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With friends like GFMS, gold doesn't need enemies!

 

I cannot imagine a more grudging perspective on gold. It's as if they are trying to get retail holders to sell their gold before it hits the 900 they suggest the correction will take it to.

 

I would be inclined to lump Barrick, GFMS, and the World Gold Council into what I would call the Anti-Gold.

imo any amount of antipathy towards gold is of no consequence considering that the current global trading system is unravelling. The practicalities of gold will reassert themselves in a new gold exchange standard. You might as well tell the tide not to come in.

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imo any amount of antipathy towards gold is of no consequence considering that the current global trading system is unravelling. The practicalities of gold will reassert themselves in a new gold exchange standard. You might as well tell the tide not to come in.

 

Oh, I agree completely Roman.

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With friends like GFMS, gold doesn't need enemies!

 

I cannot imagine a more grudging perspective on gold. It's as if they are trying to get retail holders to sell their gold before it hits the 900 they suggest the correction will take it to.

 

I would be inclined to lump Barrick, GFMS, and the World Gold Council into what I would call the Anti-Gold.

 

Gosh you managed to be more polite than I would have ;)

 

Maybe it's worth noting that the GFMS failed to make note of the gold bought by China. A slight mistake !

This gold fiddling is tricky :D

 

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I suppose where we are upto on those scales changes based on which sections of society that we are talking about. HPC certainly banned the open discussion on gold as do most of the mainstream media. Only a small percentage of people follow current events and very few of those people use the internet for news. Only a tiny fraction of understand enough about what's happening to be actively following the events on forums like HPC, and only a small number of us posting on forums understand gold.

 

yes, indeed. I suppose my comments were aimed at those on hpc, rather than a wider base of people.

 

this poster has been following my interest in gold & inflation for quite some time, he has been very quiet lately until I posted a reply to him today. You mentioned name calling etc:

 

Mark Uttley I know this poster from my inner hpc days. ;)

 

I am very interested in how people react/deal with these kind of things tbh as I think it represents (in its simplest form) why we are in this situation today, a total case of denial & head in the sand approach.

 

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yes, indeed. I suppose my comments were aimed at those on hpc, rather than a wider base of people.

 

this poster has been following my interest in gold & inflation for quite some time, he has been very quiet lately until I posted a reply to him today. You mentioned name calling etc:

 

Mark Uttley I know this poster from my inner hpc days. ;)

 

I am very interested in how people react/deal with these kind of things tbh as I think it represents (in its simplest form) why we are in this situation today, a total case of denial & head in the sand approach.

You are definitely a grumpy old woman!! You seem to be making a habit of calling attention to particular posters on another site. :lol::lol:

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You are definitely a grumpy old woman!! You seem to be making a habit of calling attention to particular posters on another site. :lol::lol:

 

 

I am amazed at the attitude tbh, this particular poster I know quite well. ;)

 

so many stories I could tell, but it's not my style.

 

I will leave it now though......it's wasted energy I know, & I am detracting from the informative gold postings (& my further education), my apologies. I really mean that btw.

 

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Any takers?

 

It will go up? ;)

 

Seriously, those graphs tell me we have a long way to go yet. The fun will really begin when we are in the thousands (USD) and have monsterous take-downs - over 200 bucks in a day. The nervous nellies will really have something to worry about then. Your life (and your savings) will literally flash past your eyes. I'm mentally ready for it. Hope the rest of folks out there are too.

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It will go up? ;)

 

Seriously, those graphs tell me we have a long way to go yet. The fun will really begin when we are in the thousands (USD) and have monsterous take-downs - over 200 bucks in a day. The nervous nellies will really have something to worry about then. Your life (and your savings) will literally flash past your eyes. I'm mentally ready for it. Hope the rest of folks out there are too.

Recently saw Jim Rogers on CNBC [a case study in behavioural economics] and he could not stop talking about currency crises. If we see these they will certainly take us on a roller coaster ride. I hope to keep around a third of my liquid assets in cash in order to take advantage of the big one. The other two thirds will be in silver and gold of course.

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Well good luck to you Roman. My cojones are certainly not as big as yours. I still can't bring myself to trade my savings so I'll just take the wimpy way out - buy and hold.

 

By the way, are you still in Korea? I've set myself up in the countryside now waiting for the big one (or ones!). Hope you have an exit plan too.

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It will go up? ;) ...

I still wonder if anyone has made some effort to identify what these charts actually show. Application of some TA could be quite interesting. :)

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Well good luck to you Roman. My cojones are certainly not as big as yours. I still can't bring myself to trade my savings so I'll just take the wimpy way out - buy and hold.

 

By the way, are you still in Korea? I've set myself up in the countryside now waiting for the big one (or ones!). Hope you have an exit plan too.

I plan to make next year my last one in Seoul [am hoping the economy here will hold up that long]. My exit plan is a 100 gram bar of gold in case the currency collapses. :lol:

 

As for keeping a third of your savings in cash... I do not think this takes much courage. It is a hedge against a large position in metal and allows for you to buy at the cheapest prices on a possible liquidating dip.

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http://news.bbc.co.uk/1/hi/uk_politics/8255938.stm

He (Gordon Brown) added that as Britain moves "into a full recovery we will invest and grow within sustainable public finances - cutting costs where we can, ensuring efficiency where it's needed, agreeing realistic public sector pay settlements throughout, selling off the unproductive assets we don't need to pay for the services we do need".

The last of Britain's gold?

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The Chinese are clever enought to let them take gold down, then load-up.

 

Nick

They also now want to protect the price, as they are encouraging their population now to buy. I think the price may go down, but not very much, certainly not enough to cover physical commissions.

 

Buy and hold physical, trade paper if you are that way inclined.

 

 

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As for keeping a third of your savings in cash... I do not think this takes much courage. It is a hedge against a large position in metal and allows for you to buy at the cheapest prices on a possible liquidating dip.

 

Thanks RH. This makes a lot of sense.

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IMO this isn't receiving the attention it deserves. If this doesn't qualify as proof the gold/silver markets are manipulated then I don't know what does...

 

HAS BARRICK BEEN BARRICKED BY THE U.S.?

 

 

http://www.financialsense.com/editorials/m.../2006/0310.html

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The BBC are hardly going to cause a stampede with a poor interview like that. The BBC was so much better under a Tory govt...

 

Apparently ETFs are the only sensible way to play it, but supply and demand factors are going to push the price down anyway.

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Note that selling gold is mentioned before buying:

Some people wanting to take advantage of the high price are selling their own jewellery for scrap - but how good are the deals being offered on TV or by high-street jewellers?

 

Others may think now is still the time to buy, rather than sell gold. Paul Lewis talked to Justin Urquhart Stewart of Seven Investment Management about the options available to investors.

 

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