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OK I understand your position a little better, you've effectively already made your money and now you're `playing it safe`...

 

Sorry I can't let you get away with saying gold will correct by 50% without asking you to justify/clarify this claim. I am of the strongest opinion, this couldn't be further from the truth. You're betting against Jim S, but more importantly the central bank of India and the Chinese Government.

 

Furthermore, gold will drop by 50% in a year at some stage - and one can never be sure of getting out before that drop occurs ...i.e., big risk!
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against what ?

...against all currencies, just as after 1982!

 

Sorry I can't let you get away with saying gold will correct by 50% without asking you to justify/clarify this claim. I am of the strongest opinion, this couldn't be any further from the truth.

 

At some point gold will peak, and then correct. If left to its own devices it might well peak at a few thousand USD in a bubble/mania phase some time this next decade. After that, it will fall dramaticall;y.

 

But equally the PPT and CB's don't want such high prices to be reached, and are much more able to restrain the price than ever before. So its not at all impossible that gold will not exceed USD 1500 these next few years (i.e., no mania phase occurs), after which global economies get back on track and gold consequentially falls in price.

 

I think people place too much emphasis on the USD 850 price seen in 1982 as some kind of 'normal high' that we're again certain to reach in inflation adjusted terms. That 1982 high was without todays extreme government/CB intervention in markets, and very much exagerated to the upside due to an attempt to corner the silver market (which caused a spike in all PMs)

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I think you over estimate the size of the gold market and under estimate how little money it would genuinely take to move it will style...

 

I edited my post above which I think you missed, but just to reiterate, you're betting against governments with this line of thought. Whilst a higher gold price would in fact make it easier to move back to a tethered `pseudo gold` standard, you don't have to look this far. All you really need to know is, once geo-political tension snaps, the international pressure to repatriate gold will be immense, this will cause the gold carry trade to unwind with force and the gold ETF lie will become public. It is my honest opinion there will be so much political unrest in the world in the next 7-8 years, very little will be valued as a store of wealth.

 

At some point gold will peak, and then correct. If left to its own devices it might well peak at a few thousand USD in a bubble/mania phase some time this next decade. After that, it will fall dramaticall;y.

 

But equally the PPT and CB's don't want such high prices to be reached, and are much more able to restrain the price than ever before. So its not at all impossible that gold will not exceed USD 1500 these next few years (i.e., no mania phase occurs), after which global economies get back on track and gold consequentially falls in price.

 

I think people place too much emphasis on the USD 850 price seen in 1982 as some kind of 'normal high' that we're again certain to reach in inflation adjusted terms. That 1982 high was without todays extreme government/CB intervention in markets, and very much exagerated to the upside due to an attempt to corner the silver market (which caused a spike in all PMs)

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I think you over estimate the size of the gold market and under estimate how little money it would genuinely take to move it will style...

 

I edited my post above which I think you missed, but just to reiterate, you're betting against governments with this line of thought. Whilst a higher gold price would in fact make it easier to move back to a tethered `pseudo gold` standard, you don't have to look this far. All you really need to know is, once geo-political tension snaps, the international pressure to repatriate gold will be immense, this will cause the gold carry trade to unwind with force and the gold ETF lie will become public. It is my honest opinion there will be so much political unrest in the world in the next 7-8 years, very little will be valued as a store of wealth.

Nothing is impossible - but you are painting a very dramatic picture of the next several years. Developments on that scale would probably also bring global wars (economic and military, perhaps even nuclear). In that scenario, having or not having X kg of gold won't matter. I'd still rather have a safe home with a fair chunk of agricultural land [...plus a 2-year foddstock, windmill, livestock, water purifyer, and big set of guns!!!].

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Nothing is impossible - but you are painting a very dramatic picture of the next several years. Developments on that scale would probably also bring global wars (economic and military, perhaps even nuclear). In that scenario, having or not having X kg of gold won't matter. I'd still rather have a safe home with a fair chunk of agricultural land [...plus a 2-year foddstock, windmill, livestock, water purifyer, and big set of guns!!!].

Wouldn't we all, I guess the thing is that many are not in the same enviable position.

 

 

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I'm also not there yet - but trying to get there :-)

 

I've never fired gun, and know nothing about farming. But hey - its fun to learn.

That is also my long term plan to buy a house with some land. I have already fired some guns though, which was fun.

 

 

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IMO this crisis has all the contributory elements for war, countries are already positioning themselves in a world that has reached critical mass with limited resources. IMO it would be unwise to bet against gold.

 

Nothing is impossible - but you are painting a very dramatic picture of the next several years. Developments on that scale would probably also bring global wars (economic and military, perhaps even nuclear). In that scenario, having or not having X kg of gold won't matter. I'd still rather have a safe home with a fair chunk of agricultural land [...plus a 2-year foddstock, windmill, livestock, water purifyer, and big set of guns!!!].
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Nothing is impossible - but you are painting a very dramatic picture of the next several years. Developments on that scale would probably also bring global wars (economic and military, perhaps even nuclear). In that scenario, having or not having X kg of gold won't matter. I'd still rather have a safe home with a fair chunk of agricultural land [...plus a 2-year foddstock, windmill, livestock, water purifyer, and big set of guns!!!].

Have you seen China/Russia/India/Pakistan state TV recently?

They're like full colour HD re-runs of 1938.

1938 Rome:

http://www.youtube.com/watch?v=4hiBLceU12I

 

2009 China:

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Bernanke's mention of the dollar moved the market down from the day's high...

 

The outlook for inflation is also subject to a number of crosscurrents. Many factors affect inflation, including slack in resource utilization, inflation expectations, exchange rates, and the prices of oil and other commodities. Although resource slack cannot be measured precisely, it certainly is high, and it is showing through to underlying wage and price trends. Longer-run inflation expectations are stable, having responded relatively little either to downward or upward pressures on inflation; expectations can be early warnings of actual inflation, however, and must be monitored carefully. Commodities prices have risen lately, likely reflecting the pickup in global economic activity, especially in resource-intensive emerging market economies, and the recent depreciation of the dollar. On net, notwithstanding significant crosscurrents, inflation seems likely to remain subdued for some time.

 

The foreign exchange value of the dollar has moved over a wide range during the past year or so. When financial stresses were most pronounced, a flight to the deepest and most liquid capital markets resulted in a marked increase in the dollar. More recently, as financial market functioning has improved and global economic activity has stabilized, these safe haven flows have abated, and the dollar has accordingly retraced its gains. The Federal Reserve will continue to monitor these developments closely. We are attentive to the implications of changes in the value of the dollar and will continue to formulate policy to guard against risks to our dual mandate to foster both maximum employment and price stability. Our commitment to our dual objectives, together with the underlying strengths of the U.S. economy, will help ensure that the dollar is strong and a source of global financial stability.

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Although I suppose the bottom line remains this ...

 

The Federal Open Market Committee continues to anticipate that economic conditions, including low rates of resource utilization, subdued inflation trends, and stable inflation expectations, are likely to warrant exceptionally low levels of the federal funds rate for an extended period. Of course, significant changes in economic conditions or the economic outlook would change the outlook for policy as well. We have a wide range of tools for removing monetary policy accommodation when the economic outlook requires us to do so, and we will calibrate the timing and pace of any future tightening to best foster maximum employment and price stability.
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IMO this crisis has all the contributory elements for war, countries are already positioning themselves in a world that has reached critical mass with limited resources. IMO it would be unwise to bet against gold.

You are truly illuminated good sir,we are just seeing the undercard at the momment building upto the main event CHINA Versus WoRLD X1.As for the gold questions when is the insanity going to stop and the conscious awakening begin.

 

Live spot prices say all that needs saying:- WAKE UP !!!!!!!!!!

Price/oz Gold

Chg Gold

Chg%

US Dollar -- 11/16-14:22 -- -- 1141.80 +23.30 +2.08%

Australian Dollar +0.67% 11/16-14:20 1.0646 0.9394 1215.82 +17.07 +1.42%

Brazilian Real +0.76% 11/16-14:21 1.7036 0.5870 1945.68 +25.66 +1.34%

British Pound +1.02% 11/16-14:21 0.5934 1.6853 677.67 +7.18 +1.07%

Canadian Dollar +0.68% 11/16-14:22 1.0452 0.9568 1193.67 +16.61 +1.41%

Chinese Yuan -0.02% 11/16-04:33 6.8227 0.1466 7793.57 +163.61 +2.14%

Euro +0.63% 11/16-14:21 0.6661 1.5013 760.89 +11.10 +1.48%

Hong Kong Dollar +0.00% 11/16-13:55 7.7545 0.1290 8856.41 +183.01 +2.11%

Indian Rupee +0.40% 11/16-13:55 46.0050 0.0217 52546.91 +883.40 +1.71%

Japanese Yen +0.90% 11/16-14:22 88.8600 0.0113 101495.89 +1200.00 +1.20%

Mexican Pesos +0.50% 11/16-14:21 12.9602 0.0772 14803.14 +234.68 +1.61%

Russian Ruble +0.82% 11/16-14:20 28.6310 0.0349 32699.47 +410.27 +1.27%

S.African Rand +0.63% 11/16-14:22 7.3721 0.1356 8420.36 +122.76 +1.48%

Swiss Franc +0.69% 11/16-14:22 1.0054 0.9947 1148.41 +16.10 +1.42%

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My take on it

 

1140 (yawn)

1200 mild interest

1500 buckle up!

2000 obvious

3000 mild to moderate interest

4000 reasonable prices approaching

 

Followed shortly thereafter by - "No, I will not exchange my ounce gold coin for your one million (a short time later) one billion (an even shorter time later) one trillion US dollar note - are you mad!"

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Thrust is Go, all engines. It's looking good.

 

BEHoLD THE RETURN oF THE KING CGNAo

 

I HoPE HE WILL STAY THIS TIME AND CoNTINUE To INSPIRE THE MASSES WHITH HIS INFINATE WISDoM.

 

 

k2072303.jpgk1939636.jpg

 

 

THE KNIGHTS NEED THEIR LEADER IN THE BATTLE To LEAD THE MASSES To THE GoLDEN LIGHT oF TRUTH

 

k1628504.jpgx19141498.jpg

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My goal is to preserve my wealth [which is what we keep hearing gold is about], not to get rich! [which is what many here seem to actually be hoping for].

 

My past buying/selling of gold has already significantly increased the number of GBP I own (doubled my investment after tax: equivalent of 15 years of max-capacity saving), and so that means I have already secured a future 'preservation of my wealth'.

 

So now its time to reduce the risk profile of my GBP allocations. For that reason, 90% of my fiat is going into property (UK and Switzerland), plus extending this with ~25% mortgage. Over the next 20 years, this asset class will preserve its real value and bring a considerable income (BTL components). Any nominal value change from here will be minimal (20% down), slow (taking years), and transient (within 10 years prices will be higher - especially Switzerland). So risk is absolutely minimal.

 

Given the future I am expecting (deflationary pressures for 2-4 years, followed by significant global inflation, especially in UK), this plan will work fine, whilst fiat gets undermined. Meanwhile, I might miss out on a 50% further gain in GBP gold from here, but for this to have a massive impact on my overall wealth I'd have to have 50% of my GBP in gold, and that would mean I couldn't hold these properties and the benefits they bring. Furthermore, gold will drop by 50% in a year at some stage - and one can never be sure of getting out before that drop occurs ...i.e., big risk!

 

Finally, if we do enter some hyper-inflationary period (I do not think this is at all likely), I still have 6% of my wealth in gold and 8% in energy investments, and could divert additional cash from my offset mortgage savings to add to this. So I have that backup. Plus the house prices will soar in nominal terms.

 

Most critically of all - I sleep well feeling financially secure and pretty much immune to whatever happens, I have a safe job, and I will have a lovely home for the family. Beyond that, my financial dabblings are just a casual hobby - which is why I post less often on GEI these last several months.

 

Good luck big t but i think you are exiting very prematurely from what is clearly the safest assest class to be hold up in, i think there will be some further contractions in the property market in the future and some serious upward movements in the price of gold.Everyones circumstances and aspirations direct a different path.

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Jim Sinclair has said tonight that the new floor under the gold price is now $1045.

 

Important Concepts To Help You Understand This Market

 

Dear CIGAs,

 

1. I would recommend that you review the paper by Martin Armstrong titled "How All Systems Can Collapse Overnight."

 

The US dollar has declined slowly and in an orderly manner. Loss of confidence internationally is building. All of sudden the orderly decline, like all bear markets, will become completely disorderly.

 

Gold will be up $75 and then gain another $75 in the US hours as shorts are taken out on a stretcher.

 

2. There is a floor in gold at $1045 where India purchased from the IMF. China is in to "saving face." and therefore more likely to buy the remaining IMF gold at $1044 than to step up in price.

 

Others knowing that would more than likely front run China again.

 

3. Now the community is back into top calling. Before you subscribe to this please review the market action of gold on its second move above $400 in 1979.

 

Be careful as gold is going to $1224-$1278, $1650 and then on to Alf numbers.

 

Ask yourself if you are a speculator or an insurance holder?

 

 

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http://www.marketwatch.com/story/december-...11-15?dist=news

 

 

 

Gold for December delivery rose as high as $1,140.70 an ounce.

 

It ended up $22.50, or 2%, at $1,139.20 an ounce on the Comex division of the New York Mercantile Exchange.

 

The thinly traded November contract climbed $22.50, or 2%, to $1,138.6 an ounce, the strongest settlement price for a Comex front-month contract.

 

There were "huge short covering rallies in all the precious metals," said George Gero, a precious-metals trader for RBC Capital Markets. Trading patterns "signify buyers [are] interested in the long term holding of the metals as the dollar fell."

 

The latest gains for the precious metal came as the dollar slipped as investors piled into so-called risk assets such as U.S. stocks and higher-yielding currencies. Bolstering risk appetite, the U.S. government showed retail sales in October rose more than anticipated, led by a rebound in auto sales from a post-clunkers slump.

 

 

Gold Is Precious to the IRS, TooThe tax code treats gold, silver and precious-metals ETFs as collectibles, not capital gains. Sell them at a profit, and you could be taxed at hefty rates.

Also weighing on the dollar, over the weekend leaders at the Asia Pacific Economic Cooperation Forum pledged to maintain stimulus measures, efforts which have helped this year's rebound in commodities, emerging stocks and currencies - to the dollar's detriment.

 

The dollar index /quotes/comstock/11j!i:dxy0 (DXY 74.90, -0.25, -0.33%) , which tracks the U.S. currency versus a basket of foreign counterparts, fell about 0.5% to 74.963 in recent trading, after briefly erasing the day's decline, and compared to 75.298 in late New York trading on Friday.

 

The index has lost about 16% since early March. Read related dollar story.

 

/quotes/comstock/11j!i:dxy0

DXY 74.90, -0.25, -0.33%

 

 

"The metal seems set to extend higher as record-low interest rates, inflation concerns, central-bank purchases and falling mine output draws a broad spectrum of investment demand," said James Moore, analyst at TheBullionDesk.com. "We are looking to see if the dollar index breaks lower, which could push gold above $1,150 and on toward $1,180," he wrote in a note to clients.

 

Federal Reserve Chairman Ben Bernanke said Monday in a speech that the U.S. economy still faces considerable challenges, but the most likely outcome is "moderate" growth with subdued inflation. :lol::lol::lol:

"A certain portion of the buying interest has come from the continued weakness of the dollar, but there is more to it than that," said Darin Newsom, senior analyst at Telvent DTN.

 

"This is a different type of gold rally, with support coming from both sides of the market -- investment [and] fundamental." ;);)

 

In gold exchange-traded funds, holdings in SPDR Gold Shares /quotes/comstock/13*!gld/quotes/nls/gld (GLD 111.80, +0.17, +0.15%) , the biggest gold ETF, fell slightly to 1,113.83 metric tons as of Friday.

 

In other metals futures, December silver gained $1.02, or 5.9%, to $18.40 an ounce. December palladium added $19.25, or 5.4%, to $376 an ounce, and January platinum rose $55.90, or 4%, to $1,444.60 an ounce.

 

December copper added 13.1 cents, or 4.4%, to $3.1035 a pound.

 

Moming Zhou is a MarketWatch reporter based in New York. Myra Saefong contributed to the story.

 

Polya Lesova is reporter for MarketWatch, based in Frankfurt.

 

 

I'm not a gold bug, but I assume gold is going up because they realize as do all truly informed investors that the fundamental problems that got us into this situation in the first place have not and, apparently, will not be addressed. Instead, the fools are simply attempting to inflate yet another bubble. They have succeeded, temporarily, in equities, but not in jobs, something that partly indicates the complete folly of their attempt to push off the total crash that _should_ have occurred if proper market forces had been allowed to flush out the perpetrators of this mess. It has only been delayed and will, as a result of their political attempts to save the infirm and undeserving, come back with a vengeance, being a far greater crash the second time than it would have been if they'd have let the market function properly.Reply Link Track Replies Report Abuse twopackshaker 31 minutes ago+1 Vote (2 Up / 1 Dn)

 

Here is the list of the top goldbugs in the world and the amount of gold they store in their vaults in metric tons:

 

1 United States 8,133.5

2 Germany 3,412.6

3 International Monetary Fund 3,017.3

4 France 2,487.1

5 Italy 2,451.8

6 China 1,054.0

7 Switzerland 1,040.1

8 Japan 765.2

10 India 757.7

11 Netherlands 612.5

12 European Central Bank 536.9

13 Russia 523.7

14 Taiwan 423.6

15 Spain 416.8

 

Gold doesn't seem so worthless to me when all of the major governments and financial institutions in the world are hoarding it.

 

 

Federal Reserve Chairman Ben Bernanke said Monday in a speech that the U.S. economy still faces considerable challenges, but the most likely outcome is "moderate" growth with subdued inflation.

 

is that the same Helicopter Ben who said that we weren't in recession, that the subprime issues would be contained and that they wouldn't affect the overall economy? Why should anyone believe a thing he says now?

 

http://www.commodityonline.com/futures-tra...mber-12796.html

 

 

 

 

Benny keeps printing new dollars out of thin air and backed by nothing, which dilutes the value of every dollar in your pocket.!

 

 

 

 

 

 

Just practicing for tomorrow. From Jim Sinclair at jsmineset.com

 

1. I would recommend that you review the paper by Martin Armstrong titled "How All Systems Can Collapse Overnight."

The US dollar has declined slowly and in an orderly manner. Loss of confidence internationally is building. All of sudden the orderly decline, like all bear markets, will become completely disorderly.

Gold will be up $75 and then gain another $75 in the US hours as shorts are taken out on a stretcher.

2. There is a floor in gold at $1045 where India purchased from the IMF. China is in to "saving face." and therefore more likely to buy the remaining IMF gold at $1044 than to step up in price.

Others knowing that would more than likely front run China again.

3. Now the community is back into top calling. Before you subscribe to this please review the market action of gold on its second move above $400 in 1979.

Be careful as gold is going to $1224-$1278, $1650 and then on to Alf numbers.

 

 

 

 

 

 

 

 

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I wouldn't bank on the USA (of the UK) having much of the gold they claim to have. The Americans won't allow an audit of Fort Knox.

Absolutely ;)I reckon i've got more than them :lol::lol: But i wouldnt let anyone audit mine either.But mines mine theirs is the peoples/sheeples :o:huh::unsure:

 

71019217.jpg

42-17217620.jpg42-17217621.jpg42-17217619.jpg

 

SSSSSHHHHHHH THEY MIGHT AWAKEN !!!!!!!!!!!!

 

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http://www.marketwatch.com/story/december-...11-15?dist=news

 

 

1 United States 8,133.5

2 Germany 3,412.6

3 International Monetary Fund 3,017.3

4 France 2,487.1

5 Italy 2,451.8

6 China 1,054.0

7 Switzerland 1,040.1

8 Japan 765.2

10 India 757.7

11 Netherlands 612.5

12 European Central Bank 536.9

13 Russia 523.7

14 Taiwan 423.6

15 Spain 416.8

 

What happened to No 9 and where is the UK?

 

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