FWIW Posted November 6, 2009 Report Share Posted November 6, 2009 1100 just taken I calculate that it took 26 days of Gold Bull effort to get from $1000 to $1100. In comparison it takes the Treasury and Congress 15 days of effort to go from $250bn to $350bn. Got Gold? ref from http://en.wikipedia.org/wiki/Troubled_Asset_Relief_Program The initial $250 billion can be increased to $350 billion upon the President’s certification to Congress that such an increase is necessary. The remaining $350 billion may be released to the Treasury upon a written report to Congress from the Treasury with details of its plan for the money. Congress then has 15 days to vote to disapprove the increase before the money will be automatically released. Link to comment Share on other sites More sharing options...
Pixel8r Posted November 6, 2009 Report Share Posted November 6, 2009 Just checked in after working all day, RH you do cause a lot of posts to happen that are actually about the way you post. Maybe you should try to not post anything unless you have had time to fully read and understood what is being talked about. The amount of posts I read on here that are just you stating your opinion, rather than adding anything to the subject, are very high. I for one wish you didn't feel that you had to state your opinion on everything that is written. A lot of people use this board who have different interests and outlooks, imagine if we all acted the same way the S/N ratio would be very high. I almost feel you spend your whole life on here at times, trying to prove how superior your thinking is. Get a life! Pixel8r - "The school boy fantasist gold bug" Link to comment Share on other sites More sharing options...
sash777 Posted November 6, 2009 Report Share Posted November 6, 2009 I do tend to read more than I post but just wanted to say - Pixel8r and RH, you are two of my favourite posters on here - always enjoy reading your points of view and the positions you're employing, but there does seem to have been a bit of beef between you (particularly from your side Pixel8r) recently and I'm not sure it's the most helpful approach. All of us are here with the same broad aims, can we not at least try to get along? Link to comment Share on other sites More sharing options...
bitbigt Posted November 6, 2009 Report Share Posted November 6, 2009 I do tend to read more than I post but just wanted to say - Pixel8r and RH, you are two of my favourite posters on here - always enjoy reading your points of view and the positions you're employing, but there does seem to have been a bit of beef between you (particularly from your side Pixel8r) recently and I'm not sure it's the most helpful approach. All of us are here with the same broad aims, can we not at least try to get along? +1 Link to comment Share on other sites More sharing options...
fitkid Posted November 6, 2009 Report Share Posted November 6, 2009 Why all this ganging up on RH? He (and everyone) should be allowed to post whatever he likes, so long as it is not rude nor insulting (which he never is!!!). Heck... if people don't like his content or expressed views/arguments, then just discard or ignore his posts. Please don't start telling him or others what style of post/reasoning is acceptable. Link to comment Share on other sites More sharing options...
Schaublin Posted November 6, 2009 Report Share Posted November 6, 2009 I do tend to read more than I post but just wanted to say - Pixel8r and RH, you are two of my favourite posters on here - always enjoy reading your points of view and the positions you're employing, but there does seem to have been a bit of beef between you (particularly from your side Pixel8r) recently and I'm not sure it's the most helpful approach. All of us are here with the same broad aims, can we not at least try to get along? -1 When someone has written something dismissive about another's position, Is not a riposte called for? Link to comment Share on other sites More sharing options...
fitkid Posted November 6, 2009 Report Share Posted November 6, 2009 You can call me golden balls ,golden pig,golden elephant ,golden bug,long term permo gold bug,or any other derivation or combination of the word golden all i care about is that i have got lots of gold in my physical possession. Period!!!! Link to comment Share on other sites More sharing options...
Schaublin Posted November 6, 2009 Report Share Posted November 6, 2009 You can call me golden balls ,golden pig,golden elephant ,golden bug,long term permo gold bug,or any other derivation or combination of the word golden all i care about is that i have got lots of gold in my physical possession. Period!!!! fitkid, I can't help noticing that your head seems to be made of coiled wire. Do you find this to be a problem in everyday life? Link to comment Share on other sites More sharing options...
fitkid Posted November 6, 2009 Report Share Posted November 6, 2009 fitkid, I can't help noticing that your head seems to be made of coiled wire. Do you find this to be a problem in everyday life? No its golden wire. Link to comment Share on other sites More sharing options...
modigliani1 Posted November 7, 2009 Report Share Posted November 7, 2009 Roubini's view from seekingalpha. He believes gold (and other commodities) are due for a correction: Crigger: Switching gears, you've said that gold is only useful as an investment in situations of hyperinflation and catastrophic deflation. But what do you think about other precious metals with industrial applications, such as silver and platinum? Roubini: Precious metals prices are going to depend on supply conditions compared to demand. There is a global economic recovery, and that implies that demand is rising. But like I said, this isn't totally justified by the fundamentals of supply and demand, but also a wall of liquidity chasing assets, less risk aversion, and this massive "mother of all carry trades" that uses the U.S. dollar as a funding currency. So in my view, some of the increase—even in precious metals—is not justified by fundamentals. The supply looks excessive, and it looks like part of a bubble, a generalized bubble we see across the world. Crigger: But does gold still have a role to play in currency, either as a de facto or literal currency standard? Roubini: Well, the central banks are diversifying their foreign reserves, and that's increasing their demand for gold. China's doing it; India's doing it; others are doing it. Gold is going higher in part because of this central bank diversification, and in part because, of course, whenever the dollar weakens, we see an inverse relation within the dollar price of commodities, including gold. But if you ask me, can gold can go towards $1,300, $1,400, $1,500 or $2,000, like many gold bugs say? Well, there's only two scenarios in which that could happen. First would be a real increase in global inflation, and we don't see that right now. In most emerging markets and advanced economies there is actual deflation, because there's glut of supply rather than demand, workers have no pricing power and they cut wages. So in a situation where there's deflation rather than inflation, why would gold be staying high? It cannot be. It can go up above or below $1,000, but it's going to move around those levels, and it's not going to break toward $1,500. The other scenario is Armageddon, another depression, where everybody would buy canned food, guns, ammunition and gold bars and run to a cabin in the mountains. That was the risk after Lehman, but that risk has been severely reduced. So we don't have Armageddon; we don't have inflation, so gold can maybe go slightly higher. But those people who delude themselves that gold can go to $1,500 or $2,000 are just talking nonsense. The fundamentals are not justified, and those people are just talking their books. http://seekingalpha.com/article/171919-rou...or-a-correction Link to comment Share on other sites More sharing options...
Pixel8r Posted November 7, 2009 Report Share Posted November 7, 2009 Roubini's view from seekingalpha. He believes gold (and other commodities) are due for a correction: The indians obviously don't think the fundamentals aren't justified and they are not known for being a frivolous nation. Link to comment Share on other sites More sharing options...
InSilverWeTrust Posted November 7, 2009 Report Share Posted November 7, 2009 This time next year Roubini will be eating those words! Link to comment Share on other sites More sharing options...
DoctorSolar Posted November 7, 2009 Report Share Posted November 7, 2009 Roubini's view from seekingalpha. He believes gold (and other commodities) are due for a correction: http://seekingalpha.com/article/171919-rou...or-a-correction Thanks for posting. Anyone know what Roubini's track record on gold has been like? So we don't have Armageddon; we don't have inflation, so gold can maybe go slightly higher. But those people who delude themselves that gold can go to $1,500 or $2,000 are just talking nonsense. The fundamentals are not justified, and those people are just talking their books. Pretty bold statement from Roubini as he doesn't grapple with: i) the idea that gold is being monetized. Other things will deflate against gold including other currencies ii) the race to the bottom between currencies iii) quantitative easing iv) why precisely are central banks diversifying their foreign reserves? if adding gold adds stability its a sign of monetization why not discuss that? and so on. Link to comment Share on other sites More sharing options...
Pixel8r Posted November 7, 2009 Report Share Posted November 7, 2009 Roubini's view from seekingalpha. He believes gold (and other commodities) are due for a correction: http://seekingalpha.com/article/171919-rou...or-a-correction Jim Sinclair agrees with Roubini Professor Roubini says $2000 gold is nonsense. I agree. It is probably going to a minimum of Alf’s lowest estimate of $3000. Link to comment Share on other sites More sharing options...
G0ldfinger Posted November 7, 2009 Author Report Share Posted November 7, 2009 Thanks for posting. Anyone know what Roubini's track record on gold has been like? I thought we had established that he has not done his homework on gold. Link to comment Share on other sites More sharing options...
DoctorSolar Posted November 7, 2009 Report Share Posted November 7, 2009 I thought we had established that he has not done his homework on gold. Yes i seem to recall this type of statement from Roubini being posted elsewhere here recently. Will try and find them. Link to comment Share on other sites More sharing options...
routemaster Posted November 7, 2009 Report Share Posted November 7, 2009 The indians obviously don't think the fundamentals aren't justified and they are not known for being a frivolous nation. Also it has been reported that Sri Lanka is buying. Gold price hits record after 'Sri Lanka purchase' (AFP) LONDON — The price of gold hit a record high above 1,100 dollars an ounce in trading here on Friday following a report that Sri Lanka had joined India in purchasing the precious metal in favour of the US currency. "The Central Bank of Sri Lanka has announced that it is buying gold to diversify its reserves," industry body the World Gold Council (WGC) said in a statement issued before gold struck a record high of 1,101.42 dollars. http://www.google.com/hostednews/afp/artic...zkKP-6RwQyIHiTg Link to comment Share on other sites More sharing options...
romans holiday Posted November 7, 2009 Report Share Posted November 7, 2009 Get a life! Well, I am trying. I do realise I spend an inordinate amount of time on this site but... well, we do live in interesting times to say the least. And if we get it right, well, we might really be able to "get a life". Personally, I don't want to work for someone else for the rest of my life. Ahhh, a life consisting of fishing in the morning, then reading in the afternoon , with the odd gold-panning expedition thrown in of course.... that would be the life. A life of leisure. Right, of to the cafe to read Paul Krugman's The Return of Depression Economics. A study in the popular psychology of mainstream economics economists of course. Link to comment Share on other sites More sharing options...
d2thdr Posted November 7, 2009 Report Share Posted November 7, 2009 This time next year Roubini will be eating those words! Roubini might be a very experienced market commentator, but how often does one have to listen to 'experts' to make up one's mind. I resepectfully disagree with Roubini or many who seem to talk sense. May be he is right, in the grand scheme of things there might be a correction of about 100 $ but that might push the price even higher. Link to comment Share on other sites More sharing options...
electroweak Posted November 7, 2009 Report Share Posted November 7, 2009 If expecting a correction, think about buying some out of the money puts? (an idea mentioned on FSN this week). EDIT to add: only if already holding a good core position and waiting to buy on any weakness! Link to comment Share on other sites More sharing options...
Errol Posted November 7, 2009 Report Share Posted November 7, 2009 I have to say that Roubini appears to not understand the function of gold at all. He also appears to have a fundamentally flawed view of what is currently taking place. Still, he's not the only 'expert' to make wrong calls. How many 'experts' were calling for $1000+ gold 10 years ago? I'm no expert but I was buying 10 years ago on the basis that gold would go to well in excess of $1000 (more like $5000). Link to comment Share on other sites More sharing options...
Pixel8r Posted November 7, 2009 Report Share Posted November 7, 2009 Well, I am trying. I do realise I spend an inordinate amount of time on this site but... well, we do live in interesting times to say the least. And if we get it right, well, we might really be able to "get a life". Personally, I don't want to work for someone else for the rest of my life. Ahhh, a life consisting of fishing in the morning, then reading in the afternoon , with the odd gold-panning expedition thrown in of course.... that would be the life. A life of leisure. Right, of to the cafe to read Paul Krugman's The Return of Depression Economics. A study in the popular psychology of mainstream economics economists of course. Agreed we do live in a very interesting that requires a lot of understanding to be gained. I guess I have been lucky in that I have been working for myself for 20 years now. Link to comment Share on other sites More sharing options...
romans holiday Posted November 7, 2009 Report Share Posted November 7, 2009 Roubini's view from seekingalpha. He believes gold (and other commodities) are due for a correction: http://seekingalpha.com/article/171919-rou...or-a-correction I always like to listen to what Roubini has to say. I think that he could be right about a coming "snap-back in the mother of all carry trades", but I do not think that gold will be as affected as other investment vehicles which have benefitted from loose monetary policy and the reflation trade. The way I see it gold could dip to US 900 or so [while at the same time exploding to new highs in other currencies] on credit crisis 2, and then recover to new highs in the dollar on further economic and currency instability. Link to comment Share on other sites More sharing options...
hotairmail Posted November 7, 2009 Report Share Posted November 7, 2009 Agreed we do live in a very interesting that requires a lot of understanding to be gained. I guess I have been lucky in that I have been working for myself for 20 years now. Now, if only we could get rid of those pesky customers.... Link to comment Share on other sites More sharing options...
Pixel8r Posted November 7, 2009 Report Share Posted November 7, 2009 Now, if only we could get rid of those pesky customers.... Actually not, I do work for some very interesting people as I am a professional advertising photographer. The only problem was last year that there really wasn't much work around in the high end advertising world. Things do seem to be picking up again now though, just worked on a image for a 35m x 9m billboard in Russia! Link to comment Share on other sites More sharing options...
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