nicejim Posted October 2, 2009 Report Share Posted October 2, 2009 <img> Hmmmmmm I can't remember all the smackdowns but I have a feeling that the rebounds are steeper now than in the past. Are people rushing to buy on any kind of sale prices? The silver smackdown is going well though. Link to comment Share on other sites More sharing options...
kkeegan123 Posted October 2, 2009 Report Share Posted October 2, 2009 front-running the employment data Hi Bill! Looking at the market behaviour in the metals today I don't think I am going way out on a limb to suggest that the (UN)Employment data tomorrow is really going to stink. <snip> If the news is bad tomorrow, and if gold can fly in the face of that news, it will be a mega-financial market event for our camp, as it will indicate a further loss of control over gold by The Cartel. Either way, no change in my outlook that gold and silver are ready to rumble to the upside, and hold their gains, VERY soon. GATA BE IN IT TO WIN IT! MIDAS Well, it didn't exactly fly...actually it got a good $10 kicking as usual, but has retraced back to $993 from $986 in less than an hour. Edit - now $996 almost fully retraced....good performance for gold. Link to comment Share on other sites More sharing options...
nicejim Posted October 2, 2009 Report Share Posted October 2, 2009 Have you heard of China, Jim? I appreciate you like to believe you're the only person who knows stuff, but I have indeed heard of China. What I don't know is what their maximum buy price is. $900 looked like a good floor a while back; perhaps the Chinese have raised their floor a few bucks a week or something? What I really wanted to know though, is opinions on whether the rebounds really are getting steeper, or if it's just my unreliable memory. Link to comment Share on other sites More sharing options...
bakachu Posted October 2, 2009 Report Share Posted October 2, 2009 To my layman eyes today's POG seems like it's just reacting to big swings in the dollar index, seems pretty volatile at the moment Link to comment Share on other sites More sharing options...
HPCSucks Posted October 2, 2009 Report Share Posted October 2, 2009 Back above 1,000 now. Link to comment Share on other sites More sharing options...
Jake Posted October 2, 2009 Report Share Posted October 2, 2009 Why gold if deflation is the threat? - http://blogs.reuters.com/rolfe-winkler/200...-is-the-threat/ Nice one Mr P. Thanks. And get to the Shroeder article then comments and you'll find this interesting... Sudden death for the U.S. dollar! by Larry Edelson on September 18, 2009 Click here to post your comments … This week, we’ve examined three powerful forces now arrayed against the U.S. dollar … * President Obama and Fed Chief Bernanke are not only refusing to defend the dollar, they are intentionally causing its demise with out-of-control spending and money-printing. Their motives are clear: Gutting the greenback’s value is the ONLY way they can ever hope to service our massive debt. * Foreign governments, central banks, financial institutions and investors are slashing their dollar investments. In some cases, they are dumping dollars to insulate themselves from the greenback’s head-long plunge. And by doing so, they’re causing the dollar’s decline to accelerate. * The United Nations and the G-7 plus China, France, India, Russia, Brazil and others are already laying plans to replace the U.S. dollar as the world’s reserve currency — and by doing so, will crush what little international demand remains for the greenback and send it into its death spiral. These are not mere “predictions.” As we’ve seen in my emails to you this week, each of these assaults on the U.S. dollar is happening right now. And as a result, the dollar’s value — the value of YOUR dollars — has plunged more than 14% in the last 6 months. Worse: Each of these assaults on the U.S. dollar is still in its early stages! As they continue to hammer the greenback in the months ahead, the dollar’s decline can only accelerate wildly. The fourth horseman of the dollar apocalypse Now, a FOURTH, and even more disturbing anti-dollar movement is quietly brewing in Washington, New York, London, Paris, Berlin, Moscow, Shanghai, Tokyo and many other financial capitals worldwide. Unlike the other assaults on the dollar we’ve examined, this “ultimate debt solution” is NOT yet in place. The world leaders and central bankers who discuss it now speak only in whispers; behind closed doors. But for reasons I give below, I’m convinced that world leaders now have no choice but to implement this solution — and that it will soon explode into the headlines. If I’m right, it will spell SUDDEN DEATH for the U.S. dollar — and an instant, explosive implosion in the buying power of your money. When this solution is unveiled, it will be too late for you to shield yourself. The trap will have been sprung. You will simply awake one morning to discover that your money buys only a fraction of what it did 24 hours earlier. My mission is to help make sure that you are NOT surprised … that you have ample time to protect your savings, investments and retirement … and that you also have what you need to continue growing your wealth — even as this ultimate debt solution robs others of everything they’ve ever earned. The ULTIMATE global debt solution It’s no secret that the U.S. credit crisis spread like wildfire around the globe — or that nearly every government on Earth has amassed enormous new debts in an effort to spend its way out of this crisis. Put simply, the U.S. government is NOT alone. Many governments around the world are now drowning in debt — and they’re desperately searching for the “magic solution” that will keep that debt from crushing their economies. And like President Obama and Fed Chief Bernanke, they fear that the only way they’ll ever be able to service their debt — let alone repay it — is to do so with cheaper money. The only way for that to happen would be for the G-20 — the world’s largest economies — to agree to a new monetary order, much like they did 65 years ago by signing the Bretton Woods agreements in 1944. Even while World War II continued to rage, Allied leaders met in Bretton Woods, New Hampshire. Their mission: To stabilize wildly fluctuating currency exchange rates. Their solution: Create a new world monetary order that pegged global currencies to the price of gold. This time around, global leaders are faced with a different problem: Massive debts that none of them can ever repay. But the solution will seem eerily familiar — and like the Bretton Woods agreements, it involves the price of gold. To instantly slash the value all of their currencies at once, world leaders simply need to raise the price of gold. For instance: The G-20 could instantly and automatically slash the dollar’s value by HALF simply by setting the price of gold at $2,000 per ounce. TO YOU, that would mean food, energy and everything else you pay for every month would instantly DOUBLE in price. BUT FOR THEM, it would mean that the cost of servicing or repaying their national debts would be cut by half. Will the G-20 slash the buying power of money by doubling the price of gold? Maybe. Maybe they’ll raise gold prices less; maybe more. If anyone tells you he knows, he’s pulling your leg. But one thing seems clear to me: With the entire developed world now drowning in a sea of unpayable and in some cases, unserviceable debt, resetting the price of gold is the ONLY way out. In fact, the process has already begun with the explicit calls you’ve been hearing in the press from heads of state for “a new financial architecture” … “a new Bretton Woods” … “new financial regulatory structures.” How soon is it likely to happen? Again — nobody knows for sure. It may be a few months from now or even a couple of years in the future. But I have absolutely no doubt that it WILL happen. Link to comment Share on other sites More sharing options...
dietcolaaddict Posted October 2, 2009 Report Share Posted October 2, 2009 Wow, Friday smackdown did not work Link to comment Share on other sites More sharing options...
Pixel8r Posted October 2, 2009 Report Share Posted October 2, 2009 Per one of their foreign ministers talking recently to Ambrose Evans-Pilchard in the Telegraph they are (to paraphrase) buying, in such a way as to not explode the market - i.e. it looks like a floor has been set at or around 1000 and they will buy any cartel bombing raids - at least that seems to be the pattern - if the cartel could bomb gold back down to 900 or 800 or 700 or 600 I think they would, but they can't, not with China with gazillions in FRN overhang able and willing to mop up any and all crumbs from the cartel. Every time in recent memory the cartel has launched bombing raids there has been strong buying strength. I think the cartel will give up for a while soon, I mean how much gold do they want to give china at a discount $1350 here we come. Link to comment Share on other sites More sharing options...
Pixel8r Posted October 2, 2009 Report Share Posted October 2, 2009 I'll drink to that! Well done for finding a golden mug Link to comment Share on other sites More sharing options...
kkeegan123 Posted October 2, 2009 Report Share Posted October 2, 2009 I think the cartel will give up for a while soon, I mean how much gold do they want to give china at a discount $1350 here we come. Exactly what I was thinking. Feels nice to have gold in strong hands doesn't it. Link to comment Share on other sites More sharing options...
fitkid Posted October 2, 2009 Report Share Posted October 2, 2009 MY GOOD DEED FOR THE DAY!! A very good freind of mine has for sale 26 sovs ,1 kruger,1 brittania.He bought the gold on my advice and is now wanting to realise the profit to pay off his mortgage.anybody interested please pm me or contact him. Mark 07966 782852 http://www.mmibuildingservices.com/index.p...tact_us&a=0 HOME Welcome Company Profile SERVICES Services INDUSTRY SECTOR Experience CLIENTS Clients CONTACT US Contact Details LINKS Gas & Oil Appliances Welcome MMI Building Services Limited are a leading independent electrical, mechanical and air conditioning company Services have developed to encompass six specific operating divisions. • Electrical Installation • Electrical Testing & Inspecting inc Periodic Inspections • Portable Appliance Testing • Electrical Maintenance • Mechanical Installation, Service and Maintenance • Air Conditioning Installation, Service and Maintenance The Divisions operate individually and collectively, where complete building and maintenance services are required. From our offices in the West Midlands and the East Midlands the company enjoys continued success nationwide. A long term commitment to quality and training ensure the continued development of our company and our industry. Memberships includes: NICEIC (National Inspection Council for Electrical Installation Contractors) MMI Building Services Ltd Providing all your building services needs from installation to maintenance Link to comment Share on other sites More sharing options...
fitkid Posted October 2, 2009 Report Share Posted October 2, 2009 I have been posting genuinely new comments and data and intel and chatter quite regularly here and on other threads and I rarely get much feedback for my work (and it IS work). I haven't seen YOU post anything of value lately. All I get is the occasional meerkat pop up to have a pot shot and then scurry back to their burrow. So come on Fortune, let's see what you have to say relevant to gold on this thread! (I won't be holding my breath!) Dont worry swamp i know genious when i see it Link to comment Share on other sites More sharing options...
fitkid Posted October 2, 2009 Report Share Posted October 2, 2009 That's precisely why I'm posting them. If folks can't be bothered to discuss gold on a gold thread, then may as well try and get some discussion going via a different medium (visual)... After all, what are charts if not visual??? Do people get arsy when folks post charts? No - not unless it's KER! It's always the same in life, bar a few exceptions, the vast bulk of the herd sits back and expects everything served up to them on a plate, then they complain if the food is not to their liking! Amazing! If you want gourmet food you had better learn some recipes, pick the brains of the 3 Star Chef, and learn to cook!!! PM ME WHEN YOU SERVE THAT I WILLBE STRAIGHT ROUND Link to comment Share on other sites More sharing options...
Pixel8r Posted October 2, 2009 Report Share Posted October 2, 2009 "We're off to see the wizard, The Wonderful Wizard of Oz We hear he is a whiz of a wiz, if ever a wiz there was If ever, oh ever a wiz there was, The Wizrd of Oz is one because Because, because, because, because, because Because of the wonderful things he does We're off to see the wizard, The Wonderful Wizard of Oz" Link to comment Share on other sites More sharing options...
drbubb Posted October 2, 2009 Report Share Posted October 2, 2009 "We're off to see the wizard, The Wonderful Wizard of Oz We hear he is a whiz of a wiz, if ever a wiz there was If ever, oh ever a wiz there was, The Wizrd of Oz is one because Because, because, because, because, because Because of the wonderful things he does We're off to see the wizard, The Wonderful Wizard of Oz" You really only have two decent points there, not the minimum of three I am continuing to lighten up on Mining shares, expecting Gold to slide in the Deflationary Downswing Do be careful ! Link to comment Share on other sites More sharing options...
TrueNorth Posted October 2, 2009 Report Share Posted October 2, 2009 . . . . I am continuing to lighten up on Mining shares, expecting Gold to slide in the Deflationary Downswing Do be careful ! Wait, Dr Bubb: Are you saying -- er, that you think, . . . Gold May Be Done Here? Link to comment Share on other sites More sharing options...
bitbigt Posted October 2, 2009 Report Share Posted October 2, 2009 You really only have two decent points there, not the minimum of three I am continuing to lighten up on Mining shares, expecting Gold to slide in the Deflationary Downswing Do be careful ! I agree - but I don't think anyone is now listenning Link to comment Share on other sites More sharing options...
Pixel8r Posted October 2, 2009 Report Share Posted October 2, 2009 You really only have two decent points there, not the minimum of three I am continuing to lighten up on Mining shares, expecting Gold to slide in the Deflationary Downswing Do be careful ! Likewise. From: From: From: Link to comment Share on other sites More sharing options...
Pixel8r Posted October 2, 2009 Report Share Posted October 2, 2009 My Dear Friends, It is very important that the new definition of what the US currency is now be fully understood. The US dollar is now under the pressure of the Carry Trade as well as all other factors. The cost of US dollar simplified is a means between the Libor rate and the shorter term US treasury rates. The size of available funds is quite enormous according to your financial status. As an example, what limit would there be for a Goldman Sachs or JP Morgan? The operation increases the amount of dollars in transactional supply. Transactional funds are funds in the marketplace versus (as an example) funds being hoarded by US banks now. The Carry Trade is initiated and then covered by borrowing and shorting the US dollar to guard against downside risk of the basic long. Carry operations are generally not short term in their outlook. By borrowing the currency of carry and shorting it the risk is contained by buying the higher yielding currency instrument. If that currency risk is covered, a classic transaction is made. The Carry Trade is in many cases far from classic, and are used to fund higher risk transactions. Either way it puts supply into the US dollar transactional market and defined, active and strong trade interest to hold down the value of the carry currency, now the US dollar. The Carry Trade generally puts a multi-year and extremely bearish factor on the currency selected by the carry traders as the carry currency. A waning of Green shoots and the growing transparency of MOPE as illusionary encourages the Carry Trade. This nullifies the propaganda that a lower equity market or slow business recover to no business recovery is good for the dollar as a flight to safety. I am sorry to say, but a US depression would be Christmas for a dollar Carry Trader. The US dollar controls the price of gold, so therefore the more pressure on the downside of the US dollar, the more upside pressure on gold. Since the Carry Trade is usually far from classic and seeks to fund higher risk transactions than the classic form, the inviting conclusion is the Carry Trade will now be long gold. The count of days will not be far off the mark, if off the mark at all. One thing is for certain: The US dollar is very far from a SAFEHAVEN under its new definition as the Carry Currency of choice.. Gold is going to $1224, $1650 and then on to Alf’s numbers. Respectfully yours, Jim Link to comment Share on other sites More sharing options...
G0ldfinger Posted October 2, 2009 Author Report Share Posted October 2, 2009 http://gold.approximity.com/gold-silver_watch.html Link to comment Share on other sites More sharing options...
dietcolaaddict Posted October 2, 2009 Report Share Posted October 2, 2009 I'm a little busy at the moment with changing jobs etc. (and have little spare time) but let's just be careful of groupspeak people, as Dr B. once warned. A healthy debate is good for all. Don't pick on the outsider. Remember gold is the outsider as far as the MSM is concerned. Link to comment Share on other sites More sharing options...
Errol Posted October 2, 2009 Report Share Posted October 2, 2009 You really only have two decent points there, not the minimum of three I am continuing to lighten up on Mining shares, expecting Gold to slide in the Deflationary Downswing Do be careful ! No need to be careful. People should hold physical only. Buy at any price. As Jim Rogers says. Link to comment Share on other sites More sharing options...
wren Posted October 2, 2009 Report Share Posted October 2, 2009 COMEX gold or ECG? Link to comment Share on other sites More sharing options...
nicejim Posted October 2, 2009 Report Share Posted October 2, 2009 The Laugh Heard Round the World From: Link to comment Share on other sites More sharing options...
electroweak Posted October 2, 2009 Report Share Posted October 2, 2009 I just felt compelled to post Richard Russell's remark for today: Russell comment -- This is the Fed's worst nightmare. They have got to keep pumping out Federal Reserve Notes. Hold on to your gold. On my BIG THREE, bonds were down slightly, Dollar Index was down, and Dec. gold closed up 3.60 to 1004.30, and still above 1000. Try as they can, the anti-gold interests can't seem to knock gold down below 1,000. Bullish for gold. Advice -- I sold half my BYD. Also, keep your gold mining stocks. Link to comment Share on other sites More sharing options...
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