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So which bank was it?

It didn't say sorry....

 

 

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This headline is so good, I don't even have to read the article.

 

The UK is doomed. As Frizzers ones wrote, the UK government is the perfect contra-indicator.

 

http://goldswitzerland.com/index.php/india...-uk-buys-banks/

INDIA BUYS GOLD – UK BUYS BANKS

November 3rd, 2009 by Egon von Greyerz, GoldSwitzerland

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God bless you Goldfinger!

The other day I was telling my mates (all of whom know little about gold) about these rocket posters and the 'see you up there' tag line.

They thought it was hilarious.

 

LOL - I just showed the missus the "see you up there" line

 

never fails to make me chuckle (Don;t ask me why)

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My hoped for drop never materialised. Bugger.

 

Still hoping for a drop to at least $9xx (below £600 in sterling). That is the time to buy big.

 

Had been waiting on the same 'drop' but dry powder remains untouched rendering me a little nervous.

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Had been waiting on the same 'drop' but dry powder remains untouched rendering me a little nervous.

It may take an event such as a renewed credit crisis to take gold to a significantly lower level. Still keeping some powder dry [for silver].

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It may take an event such as a renewed credit crisis to take gold to a significantly lower level. Still keeping some powder dry [for silver].

 

Good point

 

But I'm beginning to wonder whether we will actually see another "event" such as the violent credit freeze and subsequent deleveraging that we saw in 2008.

 

After all Why would we? - I strongly beleive that what we saw late 2008 was a shock, "unexpected" (to the mainstream ,not us). The CB's clearly now stand ready to fight any liquidity issues to the point where even the first whiff of a freeze will be met full force.

 

Does anyone really think we will see a deleveraging panic equal to 2008? not IMO - I fully believe that it WILL happen but the style in which it occurs will be different - think the slow grind fought by CB's every step with their printing presses.

 

It seems that many are preparing /positioning for a set of events that are similar to the panic deleveraging of 2008 - is it possible to get the deleveraging without the panic thereby opening the door to changed inter-market correlations?

 

 

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Yes but no.... :D You're right in what you're saying, however I think prices will explode to the upside before we get anywhere near what you're describing. They will play the fiat game until the bitter end IMO.

If prices exploded to the upside wouldn't that involve currencies exploding? How likely is that to happen in the real world? Isn't it more likely that gold will increase in "price" as other currencies decrease in "price" against gold... and wouldn't this just reflect the "monetization" of gold. No schoolboy fantasy... just a mundane monetary phenomenon. :)

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Good point

 

But I'm beginning to wonder whether we will actually see another "event" such as the violent credit freeze and subsequent deleveraging that we saw in 2008.

 

After all Why would we? - I strongly beleive that what we saw late 2008 was a shock, "unexpected" (to the mainstream ,not us). The CB's clearly now stand ready to fight any liquidity issues to the point where even the first whiff of a freeze will be met full force.

 

Does anyone really think we will see a deleveraging panic equal to 2008? not IMO - I fully believe that it WILL happen but the style in which it occurs will be different - think the slow grind fought by CB's every step with their printing presses.

 

It seems that many are preparing /positioning for a set of events that are similar to the panic deleveraging of 2008 - is it possible to get the deleveraging without the panic thereby opening the door to changed inter-market correlations?

Double good point.

 

A lot depends on the future actions of governments which, if we are to be frank, are unknowable and uncertain though we can predict what they might be. Personally, I side with those who see constraints on what governments can do in the face of a continued debt deflation. Others, on the other hand, see government action as in some sense unconstrained. I suspect these differing views reflect fundamentally different "visions" where the nature of governmental power and the nature of economic theory are perceived differently.

 

Though I envsage another liquidating crisis similiar to the one seen last year, you might be right that massive stimulus and continued QE could prevent it... and we see just a slow economic stagnation instead [this is why I have already a stake in gold]. That said, I wonder if the next catalyst for a crisis could be the withdrawal of stimulus, which has to come some time next year. It wouldn't take much for these markets to panic.

 

I go with Roubini on a double-dip... but against him on gold, which I see as effectively monetized now.

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Nice 'bikes.

But why the hell did they make them chain drive?

I think you will find that it is shaft drive, they aren't going to put that much torque through a chain!

 

 

 

 

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Jeepers, gold's caught another bid this morning, 1091 and climbing!

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I think you will find that it is shaft drive, they aren't going to put that much torque through a chain!

Nope! All the Triumphs were given final chain drive when relaunched some 20 years ago.

 

The Rocket III Classic model also had, and still has, a chain drive.

http://www.hermys.com/triumph/rocketiiiclassic/

 

But admitedly, they did then start putting shafts on their range, and released a new Rocket III with shaft drive.

 

I went for the Honda CB1000 'Big One' instead

http://upload.wikimedia.org/wikipedia/comm...000_Big_One.JPG

 

And if gold keeps on doing what its doing these last 24 hours, we can all buy one of each! :)

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This article courtesy of GATA:

 

Cash for Gold? Are you kidding?

 

http://www.swissamerica.com/article.php?ar...0910200425f.txt

 

Provides a good overview of the key issues about gold vs paper. Would be a good thing to send to a friend or family member to give them a new perspective.

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Good point

 

But I'm beginning to wonder whether we will actually see another "event" such as the violent credit freeze and subsequent deleveraging that we saw in 2008.

 

After all Why would we? - I strongly beleive that what we saw late 2008 was a shock, "unexpected" (to the mainstream ,not us). The CB's clearly now stand ready to fight any liquidity issues to the point where even the first whiff of a freeze will be met full force.

 

Does anyone really think we will see a deleveraging panic equal to 2008? not IMO - I fully believe that it WILL happen but the style in which it occurs will be different - think the slow grind fought by CB's every step with their printing presses.

 

It seems that many are preparing /positioning for a set of events that are similar to the panic deleveraging of 2008 - is it possible to get the deleveraging without the panic thereby opening the door to changed inter-market correlations?

 

i agree completely.

Now that the public know things can get worse it gives the CB's and gov's room to take more drastic action (like printy printy)

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Nope! All the Triumphs were given final chain drive when relaunched some 20 years ago.

 

The Rocket III Classic model also had, and still has, a chain drive.

http://www.hermys.com/triumph/rocketiiiclassic/

 

But admitedly, they did then start putting shafts on their range, and released a new Rocket III with shaft drive.

 

I went for the Honda CB1000 'Big One' instead

http://upload.wikimedia.org/wikipedia/comm...000_Big_One.JPG

 

And if gold keeps on doing what its doing these last 24 hours, we can all buy one of each! :)

The picture I posted was of a custom Rocket III, so I was correct in saying that it had a shaft drive not a chain.

 

 

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A little OT, but what the hell..

 

http://www.members.gold.org/news/2009/11/0...m_gold_treasure

Scottish metal detectorist 'has uncovered £1m gold treasure'

The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.

 

Tuesday, 3rd November 2009 (114 views)

A metal detectorist has found a haul of Iron Age gold treasure in Scotland that could be worth more than £1 million, it has been reported.

 

Four gold neckbands - known as torcs - were found by the anonymous man in a field near Stirling, which is also remaining unnamed to avoid a rush for any more treasure that may be there, according to the Daily Record.

 

"We've never seen anything like this before. The workmanship is breathtaking. Some of the gold wire used is the thickness of your finger," a source close to the team excavating the site said.

 

The neckbands - which include one made from twisted sheet gold and another encrusted with gold wire and beads - have been declared treasure under Scottish law. Last year, a similar torc found in England was sold for £350,000.

 

Five gold torcs dating back to 75 BC were found during a construction project in Ipswich in 1968, with a sixth found close to the site one year later.

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Scottish metal detectorist 'has uncovered £1m gold treasure'

They never find Federal Reserve Notes treasures, or Pound Sterling treasures. I wonder why. :)

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The picture I posted was of a custom Rocket III, so I was correct in saying that it had a shaft drive not a chain.

And I agreed some models had shafts. But what you said was that "they aren't going to put that much torque through a chain", ...and there you were wrong my friend.

Shall we now complain about each other on Dr B's run to mummy thread :-)

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And I agreed some models had shafts. But what you said was that "they aren't going to put that much torque through a chain", ...and there you were wrong my friend.

Shall we now complain about each other on Dr B's run to mummy thread :-)

You could just start a bike thread. :)

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You could just start a bike thread. :)

True, but its important to start planning how we'll spend out gold fortunes, no? ;)

 

But OK. I'll get serious now (no more 'bike or distracting postings, promise), before Dr B complains about me on his own complaint thread.

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Gold is at $1092 and we're arguing about bikes?

 

Bikes aren't even in the subject header - can we get the thread title changed please!

 

:)

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And I agreed some models had shafts. But what you said was that "they aren't going to put that much torque through a chain", ...and there you were wrong my friend.

Shall we now complain about each other on Dr B's run to mummy thread :-)

A chain wouldn't last five minutes with that amount of torque.

 

2000.00 Nm (203.9 kgf-m or 1,475.2 ft.lbs) @ 2500 RPM

 

 

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