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Extra mouths to feed :rolleyes:

 

Have you considered getting some rabbits?

I'll feed them hungry and destitue deflationistas, or the roaming STR zombies :lol:

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Is say only a very small percentage of people (in the west) are able/in a position to make this happen - even if they really want to. Of course, this depends on the country you live in, etc. but, taking the UK as an example, unless you have loads of money/a mobile or movable job/already live in the countryside where there's a slim chance a couple of acres of agricultural land will come up for sale (at a fair price) less then a few miles away - you'd have to be extremely lucky to do this (and end up with a fair size plot of reasonable land). I guess the situation in S. Korea is quite different though...

Sure. But it doesn't hurt to have a backup plan, just in case. Besides it is only prudent to prepare the worse in the best way you can. I'm very fortunate to have bought some ridiculously cheap arigcultural land in SK and I'm aware that not many people might have such an opportunity. In those cases, the local community will be your main backup plan: helping each other out together for the things that they don't have or need to protect. Didn't Faber say the other day that he had some land out in Thailand? Even he knows what's coming. Do what you think is best for you and your family.

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Sure. But it doesn't hurt to have a backup plan, just in case. Besides it is only prudent to prepare the worse in the best way you can. I'm very fortunate to have bought some ridiculously cheap arigcultural land in SK and I'm aware that not many people might have such an opportunity. In those cases, the local community will be your main backup plan: helping each other out together for the things that they don't have or need to protect. Didn't Faber say the other day that he had some land out in Thailand? Even he knows what's coming. Do what you think is best for you and your family.

 

Yep, totally agree with all that. Prepare and plan as well as you can for you and your family. (Personally, I may well be moving to Chiang Mai myself soon - that's the area in Thailand Faber has land in, I believe.)

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Yep, totally agree with all that. Prepare and plan as well as you can for you and your family. (Personally, I may well be moving to Chiang Mai myself soon - that's the area in Thailand Faber has land in, I believe.)

 

You cannot legally own land in thailand - I believe Vietnam and Malaysia are more friendly .

 

There are ways though to be reasonably secure with your investments in Thailand if you take good advice /

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Just a thought....

 

 

http://www.investopedia.com/terms/c/cupandhandle.asp

Investopedia explains Cup and Handle

A couple points on trying to detect cup and handles: Length - Generally, cups with longer and more "U" shaped bottoms, the stronger the signal. Avoid cups with a sharp "V" bottoms. Depth - Ideally, the cup should not be too deep. Also, avoid handles which are too deep since the handles should form in the top half of the cup pattern. Volume - Volume should dry up on the decline and remain lower than average in the base of the bowl. It should then increase when the stock finally starts to make its move back up to test the old high. Retest (of old high) - doesn't have touch or come within a few ticks of old high. However, the further the top of the handle is away from the highs, the more significant the breakout needs to be.

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Hopefully lots of people attempting to trade gold today will have learned a valuable lesson.

 

Some will have been wiped out.

Come on, who would trade gold??!!

 

With all the warnings we gave them! :lol:

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well its a start

 

Georgians to pay state taxes in Gold

 

If a bill under review by the Georgia House becomes law, state residents might be paying 2010 taxes in gold.

 

Now assigned to the House of Representatives’ Banks & Banking committee, HB 430, or the Constitutional Tender Act, would require the use of gold and silver coin for the repayment of debts to the state, notably all state taxes. It would also mandate that any bank conducting business with the state accept gold and silver coins as deposits.

 

In effect, the bill seeks to revive the gold and silver standards for certain forms of state business, and Georgia would become the only state in the country to do so.

 

Reps. Bobby Franklin, R-Marietta, and Barry Loudermilk, R-Cassville, are sponsoring the bill.

 

Under the current version of the bill, the state would accept checks or other payments linked to gold coin- or silver coin-backed accounts, and could accept Federal Reserve dollars — the existing U.S. standard for nearly four decades — for other types of transactions.

 

“[Gold and silver] coins shall be the exclusive medium which the state shall accept from any person or entity as payment of any obligation to the state including, without limitation, the payment of taxes; provided, however, that other forms of currency may be used in all other transactions within the state upon mutual consent of the part of any such transaction,” the bill states.

 

The law would take effect on Jan. 1, 2010, and would affect billions in annual transactions with the state.

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"... the seasonal picture is still against Gold until August" - DrB.

Is it?

Thanks for the chart.

I think mine must be a shorter period.

From memory, mine shows the Jan-Feb. run-up and the Aug.-early Oct. run-up

 

1237646019097948700.gif

 

I dont recall run-ups in: May and mid.Nov-Dec, as shown in your chart.

But, there they are!

 

Something interesting here is the strong upward channel for the whole year

== ==

 

 

BTW, while those here who like Gold have been waiting for Gold to vault through $1,000,

I just clipped a nice quick 30% profit in less than 3 weeks trading other stocks.

 

That is just as good as a jump to $1,300.

 

So I had as good as a profit as that sort of jump, while Gold bulls here are still waiting.

Best of all, 80% of my original investment is now sitting there in Cash. If I put it

into GLD, and we see that sort of jump up, I have won twice, while others here win

only once!

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...I have won twice, while others here win only once!

 

Ah yes, but some of us choose to put our hard-earned money into gold and leave it there ... and then to spend our time doing something more worthwhile, and useful to others, than increasing our own wealth still further.

 

So we win twice as well.

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Ah yes, but some of us choose to put our hard-earned money into gold and leave it there ... and then to spend our time doing something more worthwhile, and useful to others, than increasing our own wealth still further.

 

So we win twice as well.

 

yes - it all about perspective really.

 

differing perspectives need neither be 'right' or 'wrong'.

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...

I dont recall run-ups in: May and mid.Nov-Dec, as shown in your chart.

But, there they are!

...

 

Happens in GBP as well, you must have missed the graph I put up in Jan

 

seasonalpoginpercentgbp.jpg

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Just a thought....

 

 

http://www.investopedia.com/terms/c/cupandhandle.asp

Investopedia explains Cup and Handle

A couple points on trying to detect cup and handles: Length - Generally, cups with longer and more "U" shaped bottoms, the stronger the signal. Avoid cups with a sharp "V" bottoms. Depth - Ideally, the cup should not be too deep. Also, avoid handles which are too deep since the handles should form in the top half of the cup pattern. Volume - Volume should dry up on the decline and remain lower than average in the base of the bowl. It should then increase when the stock finally starts to make its move back up to test the old high. Retest (of old high) - doesn't have touch or come within a few ticks of old high. However, the further the top of the handle is away from the highs, the more significant the breakout needs to be.

I do see your cup and handle but when I was talking about a "V" shaped bottom it does not include a handle, so should be safe. All looks positive to me a cup & handle with a "U" shaped bottom, within a larger "V" shaped recovery.

 

DayGold.jpg

 

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...

BTW, while those here who like Gold have been waiting for Gold to vault through $1,000,

I just clipped a nice quick 30% profit in less than 3 weeks trading other stocks.

 

That is just as good as a jump to $1,300.

 

So I had as good as a profit as that sort of jump, while Gold bulls here are still waiting.

Best of all, 80% of my original investment is now sitting there in Cash. If I put it

into GLD, and we see that sort of jump up, I have won twice, while others here win

only once!

 

Well done doc. I hope you continue to make handsome profits :rolleyes:

 

I don’t have your ability and knowledge (yet?). I will be happy IF I can win once.

 

Right now, I think things are looking very bad for most people. Winning will probably mean losing less than others for me.

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With what's coming there will be no winners.

 

People need to understand this. There will simply be people who lose less than others.

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BTW, while those here who like Gold have been waiting for Gold to vault through $1,000,

I just clipped a nice quick 30% profit in less than 3 weeks trading other stocks.

 

That is just as good as a jump to $1,300.

 

So I had as good as a profit as that sort of jump, while Gold bulls here are still waiting.

Best of all, 80% of my original investment is now sitting there in Cash. If I put it

into GLD, and we see that sort of jump up, I have won twice, while others here win

only once!

 

Well done for your quick profit. You need to realise a lot of the people who are into gold are not traders, we have other professions and are trying to protect our wealth and supplement our current earnings during the ongoing currency crisis.

 

The level of understanding you have in the markets is admirable, but I am sure it has taken you a longtime and cost you some money in mistakes to get there. Personally I have concentrated on getting good in my profession which I do very well out of usually. I prefer doing an honest days work for an honest days pay and feel better about working hard and producing something at the end of it. To me not everything in life is about making money, it is more about enjoying your time while doing it. While you have made some money out of your trades I have done some work and earned around £2500 which I can put into gold if I wish, so the won once bit does cut it with me either.

 

I think part of the problem that has got us into this mess is the desire by people to make money off trying to trade into and out of financial instruments. We need to go back to a society where we work hard to produce & sell physical things, rather than financial instruments that enable some to gain as others lose. You have made money out of buying a option then selling it for more, but think to yourself someone somewhere has been on the other end of that deal and has lost money. Trading is quite similar to gambling in my eyes, someone wins - someone loses. No one has lost out by me earning my money, in fact they have gained by buying my service. Take a look at this recommendation I received last week from a client;

 

“My designs demand the best imagery which is why I've constantly used XXXX XXXXXXXX for all my photographic needs. XXXX is an expert in all things photographic and his cool, laid back studio (with great music!) is a place where creative ideas just happen. If you hire XXXX you won't be disappointed."

 

Please don't take this as a personal attack, it isn't. I commend you for providing this site to help people make discussions and reach a level of understanding with what is happening in the world. I am just trying to explain that being a financial trader is not for everyone and that a lot of the goldbugs on here are not attempting to be traders, but merely trying to stop our lives being destroyed by this mess created by the current system.

 

On your last statement about putting money into GLD, have you not been reading all the information that has been posted here and elsewhere about the problems with EFTs. Do the really own the gold they say they do or are they just part of the problem, derivatives based on the price of gold? If this whole financial mess has been caused by the massive build up of leverage and counter party risk caused by derivatives, how is holding a derivative of gold going to help when the SHTF?

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Montana State Legislature considers return to gold, silver dollars

 

"It further mandates that the state must accept payments in gold or silver for various fees and purchases"

 

Where one goes others will follow.

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i agree - very good post pixel8r, i agree with everything you said.

I agree too pixel8r nice post. My cup+handle was not intended for trading; just for fun- it would be nice to see a run-up from here, that is all.

I have no problem with trading some small amount of cash in a gamble, but that's what it is imo. A gamble. Not for core physical holdings at all.

 

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I agree too pixel8r nice post. My cup+handle was not intended for trading; just for fun- it would be nice to see a run-up from here, that is all.

I have no problem with trading some small amount of cash in a gamble, but that's what it is imo. A gamble. Not for core physical holdings at all.

Thanks for all the praise for my post guys, nice to here that I am not alone in my thoughts :)

 

I have built a core position in physical gold & silver which I plan on holding for a least another three years. I also have some shares which I do attempt to trade sometimes in an amateur way, with some success and some loss. I kind of think I would be better just trying to identify good miners and holding for the duration.

 

Think we are due to go through $1000 in gold convincingly soon and I doubt we will go back below it.

 

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I agree with most of Pixel8r's sentiments but I do disagree about trading being a bad thing.

 

I think part of the problem that has got us into this mess is the desire by people to make money off trying to trade into and out of financial instruments. We need to go back to a society where we work hard to produce & sell physical things, rather than financial instruments that enable some to gain as others lose. You have made money out of buying a option then selling it for more, but think to yourself someone somewhere has been on the other end of that deal and has lost money. Trading is quite similar to gambling in my eyes, someone wins - someone loses.

 

It takes capital as well as labour to create value, and for those who have only 1 (or not enough of both) there has to be a market for each, and trading the market is not a zero-sum game when value is being added.

 

Investing starts with 2 people coming together - one with an idea and another with capital, business skills etc. If they can get the idea off the ground and make some money that's a good thing (it shows that other people appreciate the idea and are willing to exchange their own labour/capital for it), but the investor in this scenario will want a higher return than many other people. Whilst the investor's money and skills are tied up in this project we all lose out because there is another project somewhere, the outcome of which we would be willing to part with our money for, which lacks funding and direction. That's where traders come in - they provide liquidity by buying the investment in expectation of selling it at a later date to someone who is happy to invest in the project at a time when there is less risk and lower future returns.

 

So, traders are middle men (like estate agents and mortgage brokers ;-P). We might not like their existence or the percentage they take (in my experience, IT recruitment consultants sometimes take over 25% of someone's hourly rate) but they serve a purpose. I've no issue with traders unless they're taking no-lose gambles with someone else's money.

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I agree with most of Pixel8r's sentiments but I do disagree about trading being a bad thing.

 

 

 

It takes capital as well as labour to create value, and for those who have only 1 (or not enough of both) there has to be a market for each, and trading the market is not a zero-sum game when value is being added.

 

Investing starts with 2 people coming together - one with an idea and another with capital, business skills etc. If they can get the idea off the ground and make some money that's a good thing (it shows that other people appreciate the idea and are willing to exchange their own labour/capital for it), but the investor in this scenario will want a higher return than many other people. Whilst the investor's money and skills are tied up in this project we all lose out because there is another project somewhere, the outcome of which we would be willing to part with our money for, which lacks funding and direction. That's where traders come in - they provide liquidity by buying the investment in expectation of selling it at a later date to someone who is happy to invest in the project at a time when there is less risk and lower future returns.

 

So, traders are middle men (like estate agents and mortgage brokers ;-P). We might not like their existence or the percentage they take (in my experience, IT recruitment consultants sometimes take over 25% of someone's hourly rate) but they serve a purpose. I've no issue with traders unless they're taking no-lose gambles with someone else's money.

 

I was not commenting on investing in general, just trading. I think there needs to be taxes introduced to discourage short term investment holding and promote longer term investment. Sure money is needed to make the world go around, but all the financial news is about short term trading, hence we get insults like Jim Cramer's "Mad Money". I realise there will always be traders who hold for the short term, but don't think it should be encouraged for everyone to try.

 

I believe I read something recently about possible changes to the tax system to encourage longer term investments. Everyone trading brings very high volatility which is only good for the best traders and not the world in general.

 

Take a look at this post on jsmineset the other day. Traders were selling lehmans by naked shorting them, which helped to bring about the collapse;

 

Naked Short Sales Hint Fraud in Bringing Down Lehman (Update1)

By Gary Matsumoto

 

March 19 (Bloomberg) — The biggest bankruptcy in history might have been avoided if Wall Street had been prevented from practicing one of its darkest arts.

 

As Lehman Brothers Holdings Inc. struggled to survive last year, as many as 32.8 million shares in the company were sold and not delivered to buyers on time as of Sept. 11, according to data compiled by the Securities and Exchange Commission and Bloomberg. That was a more than 57-fold increase over the prior year’s peak of 567,518 failed trades on July 30.

 

The SEC has linked such so-called fails-to-deliver to naked short selling, a strategy that can be used to manipulate markets. A fail-to-deliver is a trade that doesn’t settle within three days.

 

“We had another word for this in Brooklyn,” said Harvey Pitt, a former SEC chairman. “The word was ‘fraud.’”

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I think part of the problem that has got us into this mess is the desire by people to make money off trying to trade into and out of financial instruments. We need to go back to a society where we work hard to produce & sell physical things, rather than financial instruments that enable some to gain as others lose. You have made money out of buying a option then selling it for more, but think to yourself someone somewhere has been on the other end of that deal and has lost money. Trading is quite similar to gambling in my eyes, someone wins - someone loses.

 

 

Yeah but... I agree totally with this sentiment - it is self evident that gambling is a zero sum game but people have to eat! I sold my property in the Summer of 07 - good timing and luck and use the cash to support myself via trading. I am unemployed and see no prospect of ever working again. My background is in mech engineering but after years of unemployment , I went to Russia and studied Russian for 4 years at University - I lived on the income from my apartment while there. I did get some work here as an interpreter for a few years but gradually this work was taken by native Russian speakers from the Baltic states - because they are cheap and easy to hire and fire.

 

If I had the opportunity to use my skills and contribute to society, I would but I cannot so I do what I can to survive and so does everyone else.

 

My point is that everyone has to make the best of living in a decaying society. When we reach a critical point of poverty and repression, there will be a revolution and the cards are shuffled anew!

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