LauraB Posted May 12, 2010 Report Share Posted May 12, 2010 And so the European private banks win the overnight battle with the Central Banks again: after shorting the EURUSD all the way to almost 1.25, they have forced the European Central Banks to buy ever more of their worthless Government bond holdings. Reuters reports that overnight CBs have been aggressive buyers of Greek, Portuguese and Irish Sovereign (if there is such a laughable concept as sovereign any more) bonds, which in turn has forced a quick short covering spree in the EURUSD and the EURJPY, which in turn has forced futures to go from 10 handles down to up 4. In other words, Central Banks now are fighting tooth and nail to prevent the market from going down ever again. To all the shorts out there- you are no longer taking on merely the Fed, now you have every money printer against you as they scramble to load up with every worthless asset imaginable. At this rate Dow, Dax and Dung Manure 36,000 is easily reachable. The only way to play this is through gold, which is now the only flight from Central Bank lunacy. From'TD', the man who never sleeps. http://www.zerohedge.com/article/here-come...d-greek-governm $1242. €978. Gulp. Link to comment Share on other sites More sharing options...
warpig Posted May 12, 2010 Report Share Posted May 12, 2010 I suspect both would strengthen, with gold going stratospheric! ramifications please for GBP and PM's. Link to comment Share on other sites More sharing options...
warpig Posted May 12, 2010 Report Share Posted May 12, 2010 Get your rocket pics out FFS! Seasonal trends my arse. Link to comment Share on other sites More sharing options...
romans holiday Posted May 12, 2010 Report Share Posted May 12, 2010 RH, I've got a bad feeling about this one, got me spooked. People in the know are buying like crazy. Yeah, but looking on the bright side, there is also an element of natural justice to over-inflated asset prices [and national egos] unwinding. The average Joe will once again buy an asset without mortgaging his whole future. Just a good old-fashioned depression, not the apocalypse. 1241 Link to comment Share on other sites More sharing options...
LauraB Posted May 12, 2010 Report Share Posted May 12, 2010 Yeah, but looking on the bright side, Always look on the bright side ..... I try to please everyone. Link to comment Share on other sites More sharing options...
HPCsoYESTERDAY Posted May 12, 2010 Report Share Posted May 12, 2010 Get your rocket pics out FFS! Seasonal trends my arse. Link to comment Share on other sites More sharing options...
sjiff Posted May 12, 2010 Report Share Posted May 12, 2010 To the moon. sjiff Link to comment Share on other sites More sharing options...
warpig Posted May 12, 2010 Report Share Posted May 12, 2010 Thanks! Link to comment Share on other sites More sharing options...
alexreeve Posted May 12, 2010 Report Share Posted May 12, 2010 Link to comment Share on other sites More sharing options...
The Mad Hatter Posted May 12, 2010 Report Share Posted May 12, 2010 I gave a presentation on precious metals investing at a meeting of an investors' club last night. I was surprised at how interested people were in options for investing in gold. Although these were sophisticated investors compared to Mr. Average, there was considerable consensus about the prospects for gold. Start of the Public awareness phase? Link to comment Share on other sites More sharing options...
malvern hills Posted May 12, 2010 Report Share Posted May 12, 2010 Ok ,so when its goes above all time highs ,how do we set targets for corrections/consolidations. Yes I know we should not be trading ,but I have a fortuitous spreadbet in profit and would like to try to actually get a payment from them. Link to comment Share on other sites More sharing options...
LauraB Posted May 12, 2010 Report Share Posted May 12, 2010 would like to try to actually get a payment from them. You mean a payment in one of those paper currencies that were the fashion for many years? Link to comment Share on other sites More sharing options...
malvern hills Posted May 12, 2010 Report Share Posted May 12, 2010 You mean a payment in one of those paper currencies that were the fashion for many years? to convert into shiny stuff and add to my core position, yup Link to comment Share on other sites More sharing options...
alexreeve Posted May 12, 2010 Report Share Posted May 12, 2010 If the supposed CGT changes come in, ie that CGT moves from flat rate of 18%, to being the marginal rate of income tax, has anyone given any thought to what is the best move if you have an STR in GM/BV sitting on a large capital gain. Can you just sell out and rebuy the next day and pay CGT on all capital gains accrued up to this point? Would you need to declare it now, orat the end of the tax year for this to work? Any expert opinion (or pointers of where to look) would be highly appreciated. Link to comment Share on other sites More sharing options...
chazza Posted May 12, 2010 Report Share Posted May 12, 2010 If the supposed CGT changes come in, ie that CGT moves from flat rate of 18%, to being the marginal rate of income tax, has anyone given any thought to what is the best move if you have an STR in GM/BV sitting on a large capital gain. Can you just sell out and rebuy the next day and pay CGT on all capital gains accrued up to this point? Would you need to declare it now, orat the end of the tax year for this to work? Any expert opinion (or pointers of where to look) would be highly appreciated. http://www.greenenergyinvestors.com/index....c=10119&hl= My sentiments exactly, all thoughts welcome Link to comment Share on other sites More sharing options...
Pluto Posted May 12, 2010 Report Share Posted May 12, 2010 Could this be linked to the German PM's dealer selling out of all stock? OK, putting the implausibility of the Germans leaving the Euro aside, if they did (a big "if" I know), ramifications please for GBP and PM's. JL Germany Leave Euro = Euro Collapse Euro Collapse = World War Link to comment Share on other sites More sharing options...
Jake Posted May 12, 2010 Report Share Posted May 12, 2010 Germany Leave Euro = Euro Collapse Euro Collapse = World War who against who? Link to comment Share on other sites More sharing options...
GTG Posted May 12, 2010 Report Share Posted May 12, 2010 Looks like another test of the BO area around $1230 (nice and healthy) and then on to $1250 ish. Don't expect to see much more than a 23.6% pull back at this stage. Link to comment Share on other sites More sharing options...
Pluto Posted May 12, 2010 Report Share Posted May 12, 2010 who against who? Take you pick. Whoever the bogey man they pin it to. Then it's world war to distract the proles from what is really going on. Here's the leader board right now... Iran Pakistan North Korea Afghanistan China Link to comment Share on other sites More sharing options...
LauraB Posted May 12, 2010 Report Share Posted May 12, 2010 ( NAW ) 05/12 08:57AM AUSTRIAN MINT SAYS SOLD 243,500 OZ GOLD IN COINS AND BARS IN LAST 2 WEEKS, MORE THAN IN ENTIRE Q1 ( NAW ) 05/12 08:58AM AUSTRIAN MINT SAYS GOLD ORDERS COMING ENTIRELY FROM EUROPE IN LAST FEW WEEKS, SIGNS OF "PANIC BUYS" It's from zerohedge. It's not my place, but I could dress it up Cgnao style? €984.55/oz! Link to comment Share on other sites More sharing options...
creditcrunch Posted May 12, 2010 Report Share Posted May 12, 2010 We are just only a few trading hours from breaking through EUR 1000. Link to comment Share on other sites More sharing options...
Pluto Posted May 12, 2010 Report Share Posted May 12, 2010 Are we getting scared yet? Fear is your friend. Link to comment Share on other sites More sharing options...
Ret45 Posted May 12, 2010 Report Share Posted May 12, 2010 Are we getting scared yet? Fear is your friend. At these prices I'm afraid to buy more gold. But I'm also afraid not to buy more gold. So I'm buying silver with my crappy euro Link to comment Share on other sites More sharing options...
electroweak Posted May 12, 2010 Report Share Posted May 12, 2010 At these prices I'm afraid to buy more gold. But I'm also afraid not to buy more gold. So I'm buying silver with my crappy euro I've been saving this AWESOME video ... describes how I'm feeling. From: the music is white zombie - real solution #9. The pictures are cgnao-esque. Link to comment Share on other sites More sharing options...
DoctorSolar Posted May 12, 2010 Report Share Posted May 12, 2010 the music is white zombie - real solution #9. The pictures are cgnao-esque. At least its contained.......... Fresh pile of Sterling cash here destined for gold. Pretty much feeling like you right now Ret45. Ultimately this is not the top for gold so if we go down from here it will be temporary. A disciplined averaging in approach seems like the best compromise. Link to comment Share on other sites More sharing options...
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