Jump to content

Recommended Posts

i listened to the 3rd hour - part 2 of the big picture earlier today and it clarified some details of the great depression for me, interestingly iirc, jim said that many commodities went up in price between 1933-37.

Yes, FDRs dollar devaluation against gold helped with the debt deflation in the great depression. With currencies free floating it will be very interesting to see what happens this time round. Some might be able to depreciate, others to their chagrin might do the reverse and appreciate. I guess there always remains the last resort of a formal devaluation but could you imagine the economic state and politics of that country.

 

Reminds me of this 80s song:

http://www.youtube.com/watch?v=o8L9WSJi4hc...feature=related

Share this post


Link to post
Share on other sites
i listened to the 3rd hour - part 2 of the big picture earlier today and it clarified some details of the great depression for me, interestingly iirc, jim said that many commodities went up in price between 1933-37.

 

where and why does he think we are now? wouldnt it more like 1930 now?

 

Share this post


Link to post
Share on other sites
where and why does he think we are now? wouldnt it more like 1930 now?

 

I don't think he was specifically comparing today with 1933, just looking at early indicators - check it out 33:25 mins in. and as JP points out, in the Great Depression the US of was on the Gold Standard and couldn't get away with what they are doing today.

 

Also, as RH points out when FDR came in, the $ was devalued so a rise in commodities was of little surprise, but they tanked in 1938 following massive rise in taxes

 

 

Share this post


Link to post
Share on other sites
Count me in on that, probably along with everyone else with more than half a brain.

 

I can't imagine the level of disillusionment that will be around when he is exposed as no more the solution to the USA's problems than his predecessor was. There's just no integrity there.

 

Still, his downfall will do two positive things - peel more liberals and floating voters away from the socialist left (which will become increasingly militant and 'Soviet' in tone once existing socialist policies fail) and greatly add to society's gradual (and painful) reintroduction to reality. ;)

 

well/ what else did anyone expect him to do ?

he cant produce the debt from his arse, so words will have to do.

 

unless the entire globe prints up the jam it will only at best produce a small few months of delay, possibly a year, maybe 2 and with it a bear run on gold whacking the price down. then the real issue will return as it hasnt or wont go away.

 

we have (UK) borrowed more to rescue the system than in WW2 and it will need to be repaid.

Share this post


Link to post
Share on other sites

333333day.gif

 

At what levels are people thinking of buying at? pog is now at 876, not far off the 200mda [860]. Very tempted to wait for even lower prices.

Share this post


Link to post
Share on other sites
...

At what levels are people thinking of buying at? pog is now at 876, not far off the 200mda. Very tempted to wait for even lower prices.

Yes, I would wait for Prechter's $200/oz. ;)

Share this post


Link to post
Share on other sites
333333day.gif

 

At what levels are people thinking of buying at? pog is now at 876, not far off the 200mda. Very tempted to wait for even lower prices.

 

 

I think we've already hit the tradeable bounce at $874 (just above the 200dma). I missed the trade and won't enter now, if we break through $870 gold could be in a lot of trouble and I don't see much support below. I also can't help but feel we're going to see one of those monster 'fishing lines' at some point.

 

Sentiment is not good - and at the moment sentiment is everything.

Share this post


Link to post
Share on other sites

How are they going to put people off gold when they make it so cheap? Yet again they are giving people another opportunity to get in late, bloody decent of them if you ask me.

Share this post


Link to post
Share on other sites
I think we've already hit the tradeable bounce at $874 (just above the 200dma). I missed the trade and won't enter now, if we break through $870 gold could be in a lot of trouble and I don't see much support below. I also can't help but feel we're going to see one of those monster 'fishing lines' at some point.

 

Sentiment is not good - and at the moment sentiment is everything.

Yes, imo whether or not you buy here or wait depends I guess on what percentage of your worth you already have in bullion. With a core bullion position of 50%, I am in no hurry to buy.

 

I agree that at some stage, perhaps here, we may see a large fishing line. The market correction is looking solid..........for now.

Share this post


Link to post
Share on other sites
Yes, imo whether or not you buy here or wait depends I guess on what percentage of your worth you already have in bullion. With a core bullion position of 50%, I am in no hurry to buy.

 

 

Ditto. I'm more than happy to wait for the big one. Chasing markets now will lead to even more heartache than usual.

Share this post


Link to post
Share on other sites

 

Gold outperformed cash ISAs, property and shares over last 10 years

 

http://www.citywire.co.uk/personal/-/news/...8&ea=190101

 

You'd get flamed for posting that over on HPC. I can never work out why some people seem to loathe gold so much. That's why I'm convinced this bull market has barely started. They'll start to get it when we're thinking of selling.

 

Share this post


Link to post
Share on other sites
Sentiment is not good - and at the moment sentiment is everything.

 

No :D

 

Sentiment is good, and at the moment sentiment is the only thing there is!

But it might be about to turn.

 

You can only stay high for so long, then you just have to come back down to earth ;)

 

 

(of course I'm talking about the markets)

 

Share this post


Link to post
Share on other sites
I think we've already hit the tradeable bounce at $874 (just above the 200dma). I missed the trade and won't enter now, if we break through $870 gold could be in a lot of trouble and I don't see much support below. I also can't help but feel we're going to see one of those monster 'fishing lines' at some point.

 

Sentiment is not good - and at the moment sentiment is everything.

Fully agree!

 

This fall could be in the process of accelerating, and if so it would need to get down to below USD 700 (GBP 450) before I'd be prepared to step back in big time.

 

But I'm perhaps an exception, in that my risk tolerance is very low as the money is needed for a house purchase in next year or so.

 

Share this post


Link to post
Share on other sites
No :D

 

Sentiment is good, and at the moment sentiment is the only thing there is!

But it might be about to turn.

 

You can only stay high for so long, then you just have to come back down to earth ;)

 

 

(of course I'm talking about the markets)

 

:rolleyes:

 

You're absolutely right, but of course the market can 'run on air' for an incredibly long period of time. Like a dumb dog they'll chase the stick every time the government throws it.

 

Gold has dropped quite dramatically in Turdling, looking at bullion I'm actually quite tempted by some of the prices on offer. I'll just have to shake it out of my system by staring at my stash for a while - it's soooo shiny. :P

Share this post


Link to post
Share on other sites

I mull over decisions while tossing a 100g bar in the air... makes a very pleasing ringing sound if you flick it just right. Careful though, pleasure can turn quickly to pain if you drop it on your toe. :rolleyes:

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

×