GOLD

[warpig]

As far as Pretcher and gold are concerned, a nod is as good as a wink to a blind horse.

 

Well if it makes you feel better I have something special for you...an admission of error on gold by the man himself-well as close to admission of error one could get. Make it your last Prechter interview! From 3:10 on.

 

http://www.elliottwave.com/freeupdates/arc...s-No-Haven.aspx

[Steve Netwriter]

Hi guys,

This is a MUST LISTEN IMO.

 

World Gold Council (WGC) President Shishmanian says "gold will never go below $1,000 again"

http://neuralnetwriter.cylo42.com/node/2915

 

I've typed up a transcript of most of it (I'm not a fast typer!)

There are lots of very good points IMO

 

If you like gold you'll love this, if you hate it.....read it and weep

 

 

 

[BlackPepper]

Hi guys,

This is a MUST LISTEN IMO.

 

World Gold Council (WGC) President Shishmanian says "gold will never go below $1,000 again"

http://neuralnetwriter.cylo42.com/node/2915

 

I've typed up a transcript of most of it (I'm not a fast typer!)

There are lots of very good points IMO

 

If you like gold you'll love this, if you hate it.....read it and weep

 

This price of gold is something I have no real concern with. If gold does return as a standard in which legal tender shall be valued against, I can see gold once again being confiscated and capped in major continents. Reap it whilst you can.

[romans holiday]

This price of gold is something I have no real concern with. If gold does return as a standard in which legal tender shall be valued against, I can see gold once again being confiscated and capped in major continents. Reap it whilst you can.

If I wasn't worried about the monetary system, which I've been labouring - largely unconsciously- some years for, then I also wouldn't be concerned about the price of gold. Once you start thinking about capital preservation [and the value of your labour] though, I reckon gold soon becomes quite predominant in your thoughts.

[BlackPepper]

If I wasn't worried about the monetary system, which I've been labouring - largely unconsciously- some years for, then I also wouldn't be concerned about the price of gold. Once you start thinking about capital preservation [and the value of your labour] though, I reckon gold soon becomes quite predominant in your thoughts.

 

Yes so true........but real value comes those who can produce and put back into society.

[romans holiday]

Yes so true........but real value comes those who can produce and put back into society.

I agree. The way I see it is that in order to do this I need to first "capitalize" myself. I'm not going to do that just by sitting in my local currency. I guess this also applies to nations.

 

Once capitalized, I'll be in a position to contribute to/ develop my local economy.

[warpig]

Thanks!

 

Hi guys,

This is a MUST LISTEN IMO.

 

World Gold Council (WGC) President Shishmanian says "gold will never go below $1,000 again"

http://neuralnetwriter.cylo42.com/node/2915

 

I've typed up a transcript of most of it (I'm not a fast typer!)

There are lots of very good points IMO

 

If you like gold you'll love this, if you hate it.....read it and weep

[d2thdr]

This price of gold is something I have no real concern with. If gold does return as a standard in which legal tender shall be valued against, I can see gold once again being confiscated and capped in major continents. Reap it whilst you can.

no it wont.

[ologhai]

Another way of trying to measure the peakiness and troughiness of gold occurred to me yesterday.

 

I thought it might be interesting to plot the increase in the price of gold as steady growth over the top of its actual price movements. Assuming that this has any validity at all, then peakiness could be seen by most/all of the price of gold plot being below the steady growth plot, and the other way around for troughiness.

 

In retrospect, I'm not sure this approach really adds much information that the idea of plotting the ratio of the price of gold over the 200 DMA, but I thought it might be worth a try.

 

Here is a chart of the PoG from the start of 2007 to yesterday (blue), with steady growth (red), 200 DMA (green) and the PoG/200 DMA ratio (white):

 

 

As you can see from the chart, if my interpretation of the steady growth line (as explained above) is true, there is still some addition upside yet to come as the steady growth line comes in below the three previous extremes of peakiness.

 

I would be interested to hear any comments, particularly on whether plotting this actually adds any information (or even a perspective) on the movements of the PoG.

[Steve Netwriter]

Another way of trying to measure the peakiness and troughiness of gold occurred to me yesterday.

 

I thought it might be interesting to plot the increase in the price of gold as steady growth over the top of its actual price movements. Assuming that this has any validity at all, then peakiness could be seen by most/all of the price of gold plot being below the steady growth plot, and the other way around for troughiness.

 

In retrospect, I'm not sure this approach really adds much information that the idea of plotting the ratio of the price of gold over the 200 DMA, but I thought it might be worth a try.

 

Here is a chart of the PoG from the start of 2007 to yesterday (blue), with steady growth (red), 200 DMA (green) and the PoG/200 DMA ratio (white):

 

 

As you can see from the chart, if my interpretation of the steady growth line (as explained above) is true, there is still some addition upside yet to come as the steady growth line comes in below the three previous extremes of peakiness.

 

I would be interested to hear any comments, particularly on whether plotting this actually adds any information (or even a perspective) on the movements of the PoG.

 

I guess you call that synchronisity

 

Guess what I've just done, with a surprising result?

 

Analysis of Gold Movements Using the New G5 Index (inspired by and for shuttle) by Steve Netwriter 27 May 2010

http://www.neuralnetwriter.cylo42.com/node/2920

 

Pick your trend

 

[BlackPepper]

no it wont.

 

It has happened before, so why will it not happen again?

[romans holiday]

I guess you call that synchronisity

 

Guess what I've just done, with a surprising result?

 

Analysis of Gold Movements Using the New G5 Index (inspired by and for shuttle) by Steve Netwriter 27 May 2010

http://www.neuralnetwriter.cylo42.com/node/2920

 

Pick your trend

Awesome chart Steve. I like the idea of a proper index of currencies. Is that a linear chart?

 

Still I wonder if only a few central currencies now are worth taking seriously in regards to gold price. US dollar, Yen.....

"Pricing in" weaker currencies will show the gold price higher than what it would against the stronger currencies. Is it possible to do one in just US Dollar and Yen?

[LauraB]

Once you start thinking about capital preservation [and the value of your labour] though, I reckon gold soon becomes quite predominant in your thoughts.

 

Seems some Greeks are already at that stage

 

In the first four months of 2010, the Greek central bank sold more than 50,000 sovereigns at its main downtown Athens office. Bank officials estimate that at least 100,000 other coins changed hands on the black market. The Bank of Greece has received as much as $409 per coin, which works out to a price of more than $1,700 per ounce of gold! Prices paid on the black market are reckoned to be even higher. A popular spot for street vendors to sell their coins is near the Athens Stock Exchange. There the traders wait for citizens to bring payments received from unloading their paper assets like stocks and bonds.

 

http://news.coinupdate.com/panicky-greeks-...ical-gold-0293/

[romans holiday]

Seems some Greeks are already at that stage

 

http://news.coinupdate.com/panicky-greeks-...ical-gold-0293/

 

This is telling:

 

There the traders wait for citizens to bring payments received from unloading their paper assets like stocks and bonds

 

Not consumers unloading cash, but investors unloading financial assets. Deflationary not hyper-inflationary.

 

Smarter investors, with a macro perspective, might also decide to unload the local currency for gold. But the mass of consumers in the real economy will keep the currency relatively strong as they increasingly value it due to its scarcity. It will appreciate against local assets.

 

The smarter gold buying investors will have a currency doubly appreciating against assets.

[Steve Netwriter]

Awesome chart Steve. I like the idea of a proper index of currencies. Is that a linear chart?

 

Still I wonder if only a few central currencies now are worth taking seriously in regards to gold price. US dollar, Yen.....

"Pricing in" weaker currencies will show the gold price higher than what it would against the stronger currencies. Is it possible to do one in just US Dollar and Yen?

 

You'd have to ask the WGC

I think they've picked a pretty good basket of currencies.

 

Yes linear...slinks away in shame.....

 

[romans holiday]

You'd have to ask the WGC

I think they've picked a pretty good basket of currencies.

 

Yes linear...slinks away in shame.....

Looking at that basket again, it does look pretty good. I've always used the dollar/ reserve currency as my gold benchmark and on first viewing your chart was struck by the similarity. I reckon dollar [besides Yen] might be the last currency to stand up respectably against gold. Other charts are starting to look truly awful.

[ecoface]

For the first time since 6th May, gold in GBP has shown weakness relative to in USD. In GBP terms gold was outpacing in USD terms.

 

This change co-incides with a rallying GBP since about midnight last night.

 

Anyone got any idea why the relative confidence in GBP in the last 12 hours? In GBP terms gold has dropped from 845 to 834.

 

 

[warpig]

Oddly there's no sign of this in silver/GBP, which I assume is a strong sign for silver.

 

For the first time since 6th May, gold in GBP has shown weakness relative to in USD. In GBP terms gold was outpacing in USD terms.

 

This change co-incides with a rallying GBP since about midnight last night.

 

Anyone got any idea why the relative confidence in GBP in the last 12 hours? In GBP terms gold has dropped from 845 to 834.

[50sQuiff]

For the first time since 6th May, gold in GBP has shown weakness relative to in USD. In GBP terms gold was outpacing in USD terms.

 

This change co-incides with a rallying GBP since about midnight last night.

 

Anyone got any idea why the relative confidence in GBP in the last 12 hours? In GBP terms gold has dropped from 845 to 834.

 

Absolutely nothing has changed. I think we're just seeing a corrective wave in the Dollar index. I'm taking this opportunity to buy a few more ounces and move my cash to Swiss government bonds though!

[electroweak]

Lease rates doing something. Backwardation in 1,3,6m gold.

[dietcolaaddict]

Silver Sammy alive and well.......reincarnated as a prominent poster on HPC

 

RBCI

[Schaublin]

Silver Sammy alive and well.......reincarnated as a prominent poster on HPC

 

RBCI

 

Gotta love Realistbear. 22 000 posts since 05 and he still does not understand. Perhaps he would be better advised doing more reading and less posting. In 05 I was just beginning to become interested in economics. Since then, I have sold property (Summer 07) and bought PMs with the goal of being able to buy a small holding. I am much closer to my goal thanks to seeing through people like RB and looking at real facts - thanks to many knowledgeable posters here like Pixel8er, GOldfinger and many others.

[Errol]

 

The target of 1400 to 1450 looks good. As the breakout gains shape hopefully a minimum measuring objective can be calibrated more precisely.

 

Once gold starts moving I would not be surprised to see a breakaway gap that does not get filled, but leaves many punters on the sidelines waiting for a pullback.

 

http://jessescrossroadscafe.blogspot.com/

[kernull]

i always suspected that, but now i see i am not the only one:

 

"In Bernstein's view, people who advocated the gold standard were "deluded," "intoxicated," "obsessed," and "haunted." He contends that the gold standard was "primitive" and the result of "cupidity and stupidity." Not only does he believe that gold is not useful for anything save adornment, but that dire political and social consequences result from its use as money."

http://www.fame.org/HTM/Book%20Review%20Th...20Bernstein.htm

 

sure will be interesting to read. i also believe that who think we are going to be on gold standard some day are going to be very disappointed. what gold bugs miss to see is that the FOREX system is already a back bone for unified currency system, it just needs to evolve enough to be connected to all the banks and all credit/debit cards of all the citizens in the world. In 20 or 30 year from now, we could have it done and all the hopes for gold standard will be dead completely.

Also gold bugs miss that human specie is evolving into a new specie and in 100 years from now we probably will be able to create,destroy or convert the matter as we want to. Somebody said gold was a 5000 years bubble, i bet it is. A barbaric relic that you will see in a museum 200 from now. And if you think you aren't going to live by that time you could be very wrong. A trend in inmortality has already started and it is now your decision how long you will live, but some folks still want to deny the advances of thechnology, digging the ground is the only future they see.

[romans holiday]

Also gold bugs miss that human specie is evolving into a new specie and in 100 years from now we probably will be able to create,destroy or convert the matter as we want to. Somebody said gold was a 5000 years bubble, i bet it is. A barbaric relic that you will see in a museum 200 from now. And if you think you aren't going to live by that time you could be very wrong. A trend in inmortality has already started and it is now your decision how long you will live, but some folks still want to deny the advances of thechnology, digging the ground is the only future they see.

There's a better chance of being resurrected by future cryogenic technology if you freeze yourself while still relatively young. The younger the better apparently, so you better get a roll on if you're into that sort of thing..

 

btw,,,, read Bernstein"s "Power of Gold", wasn't a bad read.