nicejim Posted March 18, 2009 Report Share Posted March 18, 2009 A thought... China ain't gonna be happy. I was just thinking that myself. Nobody's going to be happy. Link to comment Share on other sites More sharing options...
Steve Netwriter Posted March 18, 2009 Report Share Posted March 18, 2009 I guess that's what happens when you print lots of money. Fed pumps $1.2tn into US economy http://news.bbc.co.uk/2/hi/business/7951493.stm Will any of this limitless printing be used to suppress gold? That is what is always nagging at the back of my mind, I have never disputed the role gold should play and bought into that a while ago (although not earlier enough to accumulate at the lows). If you haven't, I highly recommend this book: As Mike Maloney says on page 48: Yes, gold did what it has always done. In a move that saw it rise more than 24x (2,328%) from its Bretton Woods price of $34/oz, it revalued itself and accounted for all the paper dollars that had been printed since the last time it revalued itself, in Jan of 1934. He lists all the times in history when this has occurred. Link to comment Share on other sites More sharing options...
sideshow Posted March 18, 2009 Report Share Posted March 18, 2009 It's a good book that. It's a nice easy read also. Link to comment Share on other sites More sharing options...
lowrentyieldmakessense(honest!) Posted March 18, 2009 Report Share Posted March 18, 2009 If you haven't, I highly recommend this book: As Mike Maloney says on page 48: Yes, gold did what it has always done. In a move that saw it rise more than 24x (2,328%) from its Bretton Woods price of $34/oz, it revalued itself and accounted for all the paper dollars that had been printed since the last time it revalued itself, in Jan of 1934. He lists all the times in history when this has occurred. is that what jim sinclair did in the 70's and predicted $900 (nearly got there) when Done now it is above $10,000 (moving target given the FED) Link to comment Share on other sites More sharing options...
confounded Posted March 18, 2009 Report Share Posted March 18, 2009 If you haven't, I highly recommend this book: As Mike Maloney says on page 48: He lists all the times in history when this has occurred. Thanks I'll check it out. The manipulation has really spooked me in the past and I guess once bitten twice shy. As stated I am completely in the gold camp as being the only real currency but we are in uncharted territory and the spike in the 80's was clearly a learning point for those in charge. I am still of the view they will have one more attempt to knock it down, well I was today and when it fell below 900 I thought it was happening then bam. Now looks like it could go either way, and if it was not for the threat of a smack down (A lot less evident since the Election passed!) my bet of course would be up. Edited Anyone know the best place to buy this, I usually use the book depository and they don't stock it. Link to comment Share on other sites More sharing options...
lowrentyieldmakessense(honest!) Posted March 18, 2009 Report Share Posted March 18, 2009 Thanks I'll check it out. The manipulation has really spooked me in the past and I guess once bitten twice shy. As stated I am completely in the gold camp as being the only real currency but we are in uncharted territory and the spike in the 80's was clearly a learning point for those in charge. I am still of the view they will have one more attempt to knock it down, well I was today and when it fell below 900 I thought it was happening then bam. Now looks like it could go either way, and if it was not for the threat of a smack down (A lot less evident since the Election passed!) my bet of course would be up. Edited Anyone know the best place to buy this, I usually use the book depository and they don't stock it. not used them though http://aphrohead.com/Product.aspx?pid=16202330 and http://www.amazon.com/Rich-Dads-Advisors-I...l/dp/0446510998 Link to comment Share on other sites More sharing options...
ziknik Posted March 18, 2009 Report Share Posted March 18, 2009 ... Anyone know the best place to buy this, I usually use the book depository and they don't stock it. http://www.abebooks.co.uk/servlet/SearchRe...Gold+and+Silver www.abebooks.co.uk Link to comment Share on other sites More sharing options...
confounded Posted March 18, 2009 Report Share Posted March 18, 2009 http://www.abebooks.co.uk/servlet/SearchRe...Gold+and+Silver www.abebooks.co.uk Thanks guys Link to comment Share on other sites More sharing options...
Steve Netwriter Posted March 18, 2009 Report Share Posted March 18, 2009 Thanks I'll check it out. The manipulation has really spooked me in the past and I guess once bitten twice shy. As stated I am completely in the gold camp as being the only real currency but we are in uncharted territory and the spike in the 80's was clearly a learning point for those in charge. I am still of the view they will have one more attempt to knock it down, well I was today and when it fell below 900 I thought it was happening then bam. Now looks like it could go either way, and if it was not for the threat of a smack down (A lot less evident since the Election passed!) my bet of course would be up. Edited Anyone know the best place to buy this, I usually use the book depository and they don't stock it. Tesco have it for something like £9 !!!! I checked the other day for a friend in the UK. Link to comment Share on other sites More sharing options...
Steve Netwriter Posted March 18, 2009 Report Share Posted March 18, 2009 He lists all the times in history when this has occurred. is that what jim sinclair did in the 70's and predicted $900 (nearly got there) when Done now it is above $10,000 (moving target given the FED) There appear to be many different methods, Jim did it on US debt. IMO it doesn't matter too much which way you do it, you still get a big number, and there is always likely to be a manic phase at the end with a spike and drop back. Link to comment Share on other sites More sharing options...
Steve Netwriter Posted March 18, 2009 Report Share Posted March 18, 2009 The other one to get if you can, is "The Future of Money" by Bernard Lietaer. You'll have to go to the library. I'm promoting this white paper everywhere I can: White Paper on All the Options for Managing a Systemic Bank Crisis by Bernard Lietaer Center for Sustainable Resources, University of California at Berkeley http://www.lietaer.com/images/White_Paper_...rises_final.pdf It is a MUST READ. Link to comment Share on other sites More sharing options...
gwizzie Posted March 18, 2009 Report Share Posted March 18, 2009 Hopefully lots of people attempting to trade gold today will have learned a valuable lesson. Some will have been wiped out. I dont understand what you are trying to say here, you need both buyers and sellers to make a market. Wiped out? Link to comment Share on other sites More sharing options...
romans holiday Posted March 18, 2009 Report Share Posted March 18, 2009 Well, that was a surprise to wake up to. They actually went ahead and did it. Funny, I was thinking of buying Euros last night. Will be interesting to see where pog settles here. Link to comment Share on other sites More sharing options...
sideshow Posted March 19, 2009 Report Share Posted March 19, 2009 Mish: Bretton Woods II is on its last legs and cannot possibly survive. The only thing we do not know is the timeframe. The global monetary system could collapse next month, next year, or central bankers might manage to keep it together for another five years. Meanwhile the Grand Experiment Continues. And as central bankers worldwide continue their coordinated competitive currency debasement silliness, one beneficiary is likely to be gold. http://globaleconomicanalysis.blogspot.com...-continues.html Link to comment Share on other sites More sharing options...
marmite Posted March 19, 2009 Report Share Posted March 19, 2009 Grrrrrrrr, checked POG this afternoon and thought great we are well on our way to my buy target of $850, then BAMMMMMMMMMMM !!!!!!!!!!!!!!!!!!! All the way back up to $930 Not really changed much in £ terms tho, still around that £652 mark ( missed the £638 fix this morning tho ) So where is the price going to settle now that the news is out there ?????? Are we going to see a Gold sell off tomorrow as eveyone jumps back into stock ?????? Come on Cartel, when are the summer dips going to start Link to comment Share on other sites More sharing options...
drbubb Posted March 19, 2009 Report Share Posted March 19, 2009 From the "Dash" link, just below the Logo: ========== "Possible low in Gold on 3-18 near Gold-$380 - but I am still a skeptic." My GLD chart worked pretty well in identifying a possible low yesterday, but I was too busy to trade on it As Tom Obrien said, there was heavy volume on the new low in GLD, so "we are going back down there." I think this was a news driven jump, in a market that has not yet fully corrected. There's a good chance it will drift back down IMO. Especially if stocks stay strong and attract money away from precious metals. Link to comment Share on other sites More sharing options...
FishingwithJesse Posted March 19, 2009 Report Share Posted March 19, 2009 Reinflating the housing bubble, are we? 'SLEEPLESS' NIGHTS IN BEIJING? The meat of the Fed’s statement follows with emphasis added: “In these circumstances, the Federal Reserve will employ all available tools to promote economic recovery and to preserve price stability. The Committee will maintain the target range for the federal funds rate at 0 to 1/4 percent and anticipates that economic conditions are likely to warrant exceptionally low levels of the federal funds rate for an extended period. To provide greater support to mortgage lending and housing markets, the Committee decided today to increase the size of the Federal Reserve’s balance sheet further by purchasing up to an additional $750 billion of agency mortgage-backed securities, bringing its total purchases of these securities to up to $1.25 trillion this year, and to increase its purchases of agency debt this year by up to $100 billion to a total of up to $200 billion. Moreover, to help improve conditions in private credit markets, the Committee decided to purchase up to $300 billion of longer-term Treasury securities over the next six months. The Federal Reserve has launched the Term Asset-Backed Securities Loan Facility to facilitate the extension of credit to households and small businesses and anticipates that the range of eligible collateral for this facility is likely to be expanded to include other financial assets.” Link to comment Share on other sites More sharing options...
ologhai Posted March 19, 2009 Report Share Posted March 19, 2009 I guess that's what happens when you print lots of money. Fed pumps $1.2tn into US economy http://news.bbc.co.uk/2/hi/business/7951493.stm Will any of this limitless printing be used to suppress gold? That is what is always nagging at the back of my mind, I have never disputed the role gold should play and bought into that a while ago (although not earlier enough to accumulate at the lows). To quote the article: 'The Fed said it would employ "all available tools" to promote economic recovery.' I had imagined that all the available tools had already been employed by the Fed! There are obviously more tools in the world than I had imagined... Link to comment Share on other sites More sharing options...
Pixel8r Posted March 19, 2009 Report Share Posted March 19, 2009 From the "Dash" link, just below the Logo: ========== "Possible low in Gold on 3-18 near Gold-$380 - but I am still a skeptic." I they much hope not Link to comment Share on other sites More sharing options...
surfdude Posted March 19, 2009 Report Share Posted March 19, 2009 If you haven't, I highly recommend this book: As Mike Maloney says on page 48: He lists all the times in history when this has occurred. I picked that book up in the Spring 2008 and found it enlightening and deeply informative in explaining key concepts like the history of fiat currencies, the John Law printing factory, fractional reserve banking, American indebtedness and his list of possible scenarios to play out. Definately a good read. Link to comment Share on other sites More sharing options...
Catflap Posted March 19, 2009 Report Share Posted March 19, 2009 Huge 12% spike up in Randgold Resources this morning. Link to comment Share on other sites More sharing options...
Mr Pipples Posted March 19, 2009 Report Share Posted March 19, 2009 Gold, Gossip and Russias Tu-160 Bombers by Adrian Ash - http://safehaven.com/article-12858.htm Link to comment Share on other sites More sharing options...
lowrentyieldmakessense(honest!) Posted March 19, 2009 Report Share Posted March 19, 2009 To quote the article: 'The Fed said it would employ "all available tools" to promote economic recovery.' I had imagined that all the available tools had already been employed by the Fed! There are obviously more tools in the world than I had imagined... the fed employs the "Tools" and that is the problem Link to comment Share on other sites More sharing options...
BurningRingOfFire Posted March 19, 2009 Report Share Posted March 19, 2009 The way I see it is gold needs to perform strongly today. If it doesn't I'll be extremely disappointed. What further evidence does the market need that gold is the best safe haven out there? Link to comment Share on other sites More sharing options...
sideshow Posted March 19, 2009 Report Share Posted March 19, 2009 So far so good. $950. I guess this is a key battle ground? Link to comment Share on other sites More sharing options...
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