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Swiss Parliament to discuss gold franc. http://www.marketwatch.com/story/swiss-parliament-to-discuss-gold-franc-2011-07-07?pagenumber=1

 

Most amusing quote I have seen for some time.

 

“I can imagine that this will spark some sort of debate about gold and there may be some pressure to accept the parallel currency,” said Dr. Gebhard Kirchgaessner, an economics professor at St. Gallen University. “But it won’t have any real effect on the economy. It seems incredible to imagine that there are people out there willing to buy millions of these things.” (He is talking about gold coins)

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You will be able to show me you can think for yourself when you dont copy out wiki QE and tell me it

is your understanding.

 

However i cant see a problem about you wanting to get insurance if you are forcasting inflation

providing you can survive massive sells off in Lehman type events. The point i was making was that

a huge correction in Gold is quite possible. Part of the reason for that huge correction is that

most people are not correctly understanding the nature of QE - including the amateur enthusiasts

who are determined to edit Wiki.

 

Hi ALK,

 

Please refer to the first line of my reply

“Please don’t be offended by the way I have scripted the reply!”

That was in direct reference to the Wiki quote!

I put that in because of you previous history of being a fragile little soul!

 

 

How I see it exactly, is that you frequently post in riddles. You regularly post when you have no strength in your points that you are trying to make. Then when your views are questioned or challenged by anybody on here, you don’t debate with people and exchange ideas in a friendly grown up manor, no you take things down to a personal level and become nasty and twisted!

I am happy to continue to discuss these points with you as long as you grow up and take the personal slurs and slanders out of the debate, however if you wish to continue to act like a weak child then I suggest you Pm me and we continue the personal side in private.

Now returning to the one valid point in your last post re correction of price:-

“The point i was making was that a huge correction in Gold is quite possible”

There is nothing new about that see my post from weeks ago!

 

Posted 11 June 2011 - 05:09 PM Post #26728

“However the powers that be are frightened by what is panning out, there isn't enough gold for everyone so gold will rocket, but not until 1650 is taken out then probably a strong pullback to 1000 dollar area, hard to believe but the same could of been said about silver on its way to 50 THEN BACK DOWN TO low thirty's.”

ML

 

I have never made any claim to be anything other than an amateur Joe public on here, who has a willingness to learn from of the brighter minds on here.(The clue is in the miss spelt name!)

 

You have again gone off at a tangent to your original post because you couldn’t explain or substantiate anything as usual!

Your reply shows-

What a sad nasty weak little man you are!

Regards

 

ML

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...... Meanwhile most of us including me had seen this 'money printing' as likely to significantly increase prices and we have acted accordingly.

 

I never have. I've always approached gold as a form of liquidity.... not as primarily investment, or speculation [QE is seen in the context of an on-going global deflation.... merely a "rear-guard action" to avoid a complete rout in markets... and to pump prime speculators].Granted that many are investing/ speculating in gold, I think it is the monetary aspect of gold that is increasingly winning out, where "how it prices" [assets and other currencies] progressively eclipses "how it is priced" by currencies. Before the transition is complete [the monetization of gold], there is a good chance of renewed price volatility on jitters in the wider speculatively driven markets.

 

All we might have is faith and intellectual constructions, where already i am seeing the whole QE thing very differently.

Yes, due diligence must be done on one's own intellectual constructs [to treat theory as dogma is to mis-allocate {intellectual} resources]. The model is only as good as far as it's corroborated by real experience. An enlightened scepticism should allow there's always the chance that the model will blow up along with real world developments... which is why you should always hedge.

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You need to grasp that if a very highly liquid easy to sell asset is removed from the economy it is deflationary. The fact you are talking about infinite amounts of QE3 fiat money says fairly loudly you do not understand the implications of removing financial assets from the economy and issuing another financial asset in its place.

 

Generally speaking most holders of gold are going to assume the world does not end and continues in some form that is not massively different to the way things have been in the last few hundred years. If steel is at rock bottom prices and Gold is still at todays prices people are going to feel gold is over valued.

 

I would assume deflation in the past was happening at a time of a gold standard. In deflation you have to pay down your debts or you are busted to hell by falling income. Under a gold standard and deflation, gold is the asset most sought after to pay down your debts. If the government was printing the claim notes for gold there would not be deflation so these claim notes and gold are rising in price relative to steel because both are equally sought

after. Today in deflation people would be seeking fiat money or

government bonds which are more or less the same thing.

 

To totally avoid deflation the government will have to buy steel to prevent the price falling or

forget about debt levels and just spend spend spend. Currently it is not working out that way. But it might eventually.

 

Anyway come the next lehmans, the banking system, which is levered to hell, will need to sell

something to survive.

 

BREATHTAKING.!!!!!!!

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You will be able to show me you can think for yourself when you dont copy out wiki QE and tell me it

is your understanding.

 

However i cant see a problem about you wanting to get insurance if you are forcasting inflation

providing you can survive massive sells off in Lehman type events. The point i was making was that

a huge correction in Gold is quite possible. Part of the reason for that huge correction is that

most people are not correctly understanding the nature of QE - including the amateur enthusiasts

who are determined to edit Wiki.

 

UNBELIEVABE.!!!

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I never have. I've always approached gold as a form of liquidity.... not as primarily investment, or speculation [QE is seen in the context of an on-going global deflation.... merely a "rear-guard action" to avoid a complete rout in markets... and pump prime speculators].Granted that many are investing/ speculating in gold, I think it is the monetary aspect of gold that is increasingly winning out, where "how it prices" [assets and other currencies] progressively eclipses "how it is priced" by currencies. Before the transition is complete [the monetization of gold], there is a good chance of renewed price volatility on jitters in the wider speculatively driven markets.

 

 

Yes, due diligence must be done on one's own intellectual constructs [to treat theory as dogma is to mis-allocate {intellectual} resources]. The model is only as good as far as it's corroborated by real experience. An enlightened scepticism should allow there's always the chance that the model will blow up along with real world developments... which is why you should always hedge.

 

God forbid that we should mis-allocate intellectual resources :lol: I would imagine trying to understand what AAK is on about may fall into that category.

 

BTW, how is your gold panning going?

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God forbid that we should mis-allocate intellectual resources :lol: I would imagine trying to understand what AAK is on about may fall into that category.

 

BTW, how is your gold panning going?

lol

 

No panning at the moment.... but getting prepared for my next trip down south for the summer. Now winter. Looking to buy a solar panel for the camper, and a decent detector for the nuggets. Pruning kiwifruit at the moment in order to keep fit and have a bit of pocket money.

 

Last time's effort with pan and sluice-box:

 

DSC01808.jpg

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lol

 

No panning at the moment.... but getting prepared for my next trip down south for the summer. Now winter. Looking to buy a solar panel for the camper, and a decent detector for the nuggets. Pruning kiwifruit at the moment in order to keep fit and have a bit of pocket money.

 

Last time's effort with pan and sluice-box:

 

DSC01808.jpg

 

That looks good - 1/2 OZ? It sounds as if you are having a good time. Solar panels are getting reasonably cheap now - be interesting how you get on with actual output vs claimed.

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Hi ALK,

 

Please refer to the first line of my reply

“Please don’t be offended by the way I have scripted the reply!”

That was in direct reference to the Wiki quote!

I put that in because of you previous history of being a fragile little soul!

 

 

How I see it exactly, is that you frequently post in riddles. You regularly post when you have no strength in your points that you are trying to make. Then when your views are questioned or challenged by anybody on here, you don’t debate with people and exchange ideas in a friendly grown up manor, no you take things down to a personal level and become nasty and twisted!

I am happy to continue to discuss these points with you as long as you grow up and take the personal slurs and slanders out of the debate, however if you wish to continue to act like a weak child then I suggest you Pm me and we continue the personal side in private.

Now returning to the one valid point in your last post re correction of price:-

“The point i was making was that a huge correction in Gold is quite possible”

There is nothing new about that see my post from weeks ago!

 

Posted 11 June 2011 - 05:09 PM Post #26728

“However the powers that be are frightened by what is panning out, there isn't enough gold for everyone so gold will rocket, but not until 1650 is taken out then probably a strong pullback to 1000 dollar area, hard to believe but the same could of been said about silver on its way to 50 THEN BACK DOWN TO low thirty's.”

ML

 

I have never made any claim to be anything other than an amateur Joe public on here, who has a willingness to learn from of the brighter minds on here.(The clue is in the miss spelt name!)

 

You have again gone off at a tangent to your original post because you couldn’t explain or substantiate anything as usual!

Your reply shows-

What a sad nasty weak little man you are!

Regards

 

ML

 

I was not offended.

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[to treat theory as dogma is to mis-allocate {intellectual} resources].

(with apologies for meaning-mangling)

 

Whereas intelligent(oft-times world-weary) resources self-allocate to the wilderness.

 

To avoid excessive use of the hyphen, is my excuse. What was yours RH? - Oh yes, panning for gold. You win! :D

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Oh - No - I - Haven't! :D

I went early in order to avoid that event chris,

& with success B)

 

Luckily in my sunny (non-volcanic) mountain retreat I cannot detect the distant smell of fear, but I'm sure it exists

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Gold in Sterling £976

 

Pandas are now £996, Brittanias are £986 in CID

 

Whats betting we see £1000 gold by weekend?

 

That would be very nice to see! :D

 

 

Yes very true. I dont tend to look at the buy price as I am over invested and dont plan to make any more purchases for now

 

That must be a cool place to be in ! B);)

 

I have been holding back waiting for £27.50 in Silver and $1350 in gold to make my last purchase with available free capital! :o

 

The saying "picking up pennies in front of steam rollers" , keeps coming to mind :lol::blink:

 

Regards

 

ML

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