GTG Posted July 27, 2008 Report Share Posted July 27, 2008 "Congress Approves Housing Market Rescue Bill" http://www.cnbc.com/id/25862539 another motive for traders to drive the $USD higher on monday One thing is certain.... there's already plenty of them around for them to buy never mind the billions that will be added as a result of this bill. We all know which direction the dollar is going in at least the meduim term though. Might try a cheeky long tomorrow. Link to comment Share on other sites More sharing options...
bitbigt Posted July 27, 2008 Report Share Posted July 27, 2008 This [low gold lease rates] suggests that shorters are getting tired. That is hopefully part of the explanation, as this is necessary for gold to rise. However, the rate going negative would suggest the alternative explanation - "central banks are arbitrarily lowering rates to inject more official gold surreptitiously into the gold market". The PPT has only got so many levels to pull, and so much cash to blow - and I think they're becoming stretched Link to comment Share on other sites More sharing options...
bitbigt Posted July 27, 2008 Report Share Posted July 27, 2008 "Congress Approves Housing Market Rescue Bill" http://www.cnbc.com/id/25862539 another motive for traders to drive the $USD higher on monday I agree they'll maybe choose to see this 'intervention' as evidence of government support and a reason for increased confidence in the US and the dollar. But surely, what this Housing Market Rescue Bill really means is that the whole nation is now to carry the risks/losses of all the reckless individuals and banks that bought houses on loans they couldnt afford. Not only is this really unfair on the financially responsible members of the US society, but it involves allocating another massive slice of the limited reserves the fed can deploy to fix the economic woes of their country. That, for me at least, would be reason to loose faith in the dollar! Link to comment Share on other sites More sharing options...
GTG Posted July 27, 2008 Report Share Posted July 27, 2008 Not only is this really unfair on the financially responsible members of the US society, but it involves allocating another massive slice of the limited reserves the fed can deploy to fix the economic woes of their country Exactly, so Mr Thrifty who has been financially prudent and lived frugally to pay down his mortgage and live within his means is going to be paying for Mr Spendthrift who has been using his house as an ATM and enjoyed all the benefits of profligate spending on exotic holidays, SUV's and Plasma TV's etc etc. I read Bernanke and the Fed are just advising banks to give these people a cut on the principle owed so they can afford the mortgage! A part from being grossly unfair that's going to send out a great message to folk, "oh don't worry about getting up to the eyes in debt, if you can't pay the bank will give your principle a hair cut until you can". It reminds me of the privatising profit and socialising losses message! Link to comment Share on other sites More sharing options...
kernull Posted July 27, 2008 Report Share Posted July 27, 2008 That, for me at least, would be reason to loose faith in the dollar! no doubt! this actually has to be a big drop in the dollar index but you know these guys, they rally financials and stuff like that Link to comment Share on other sites More sharing options...
Steve Netwriter Posted July 27, 2008 Report Share Posted July 27, 2008 http://www.goldensextant.com/LandisAMA.html Has some interesting comments about how the purchasing power of gold has changed in periods of inflation and periods of deflation and some figures in the appendix. That is an excellent article. I'm still reading it, but already it has made some excellent points. Thanks for posting it Link to comment Share on other sites More sharing options...
Bobsta Posted July 27, 2008 Report Share Posted July 27, 2008 "thru the summer, they get to one-two punch the metals with alternating rollovers each end of month, but gold will enjoy December as front month for 4 (count em!) months straight after aug 1st... and silver will join in for 3 months. that's so key to the futures market. everything waxes and wanes with the rolls. and December is only time both gold and silver are on same wavelength. http://www.caseyresearch.com/ I'm slightly confused by this. The current near-term Gold future is "August" for which the last trading day is 28 July. The current near-term Silver future is "September" for which the last trading day is 25 August according to Cantor Index, and 15 August according to IG Index. The next Gold future is "December" (LTD 24 November) according to Cantor Index, but "October" (LTD 25 September) according to IG Index. According to IG their product is based on "the official closing price of the Gold futures contract as reported by Comex" ... so they seem to imply that there is an October future for Gold traded on Comex. A quick check at: http://futures.tradingcharts.com/marketquo....php3?market=GC shows that sure enough October Gold futures contracts trade on Comex. So, is it just Comex offering this product, and the other exchanges skip it and go straight for December? I'm not that clued up on the various markets. Link to comment Share on other sites More sharing options...
qwerty Posted July 28, 2008 Report Share Posted July 28, 2008 Nice interview with the eloquent Paul Van Eeden gold is fairly priced because of the debasment of the US $ it is not "in a BULL market". and why gold mining shares are underperforming!. http://www.kereport.com/DailyRadio/Daily062008.mp3 Link to comment Share on other sites More sharing options...
qwerty Posted July 28, 2008 Report Share Posted July 28, 2008 Also some charts from Jesse's bookmark that site ?? great graphics and commentary!. http://jessescrossroadscafe.blogspot.com/ Link to comment Share on other sites More sharing options...
romans holiday Posted July 28, 2008 Report Share Posted July 28, 2008 Nice interview with the eloquent Paul Van Eeden gold is fairly priced because of the debasment of the US $ it is not "in a BULL market". and why gold mining shares are underperforming!. http://www.kereport.com/DailyRadio/Daily062008.mp3 I suspect Paul Van Eden identifies a "bull market" with singular upward "waves". For example he talks about a "bull market" in gold from 2005 until May 2006.... then another "bull market" from August 2007 until March 2008. Most other commentators recognise what Eden refers to as "bull markets' as "waves", or stages, with these waves belonging to a longer secular market, in which there are both upward and downward waves. They also refer to these long term trends as a "bull market". It seems the semantics here is what leads to the confusion; different people are defining a bull market differently. Link to comment Share on other sites More sharing options...
TinBrick Posted July 28, 2008 Report Share Posted July 28, 2008 FWIW, this has been mirrored by Mark Shipman, who opened a long gold position last week (Jul 14) and this week closed his long oil position. Mark Shipman's investment diary As of this morning (Jul 28), long gold is the only open position he has listed. Link to comment Share on other sites More sharing options...
bitbigt Posted July 28, 2008 Report Share Posted July 28, 2008 I suspect Paul Van Eden identifies a "bull market" with singular upward "waves". For example he talks about a "bull market" in gold from 2005 until May 2006.... then another "bull market" from August 2007 until March 2008. Most other commentators recognise what Eden refers to as "bull markets' as "waves", or stages, with these waves belonging to a longer secular market, in which there are both upward and downward waves. They also refer to these long term trends as a "bull market". It seems the semantics here is what leads to the confusion; different people are defining a bull market differently. That's a very good summary 'romans holiday' From that interview, one mght also argue that if gold is now at some kind of 'fair value' based upon the old 20 dollar coin metric, then its been undervalued for many recent years. And as we know, when prices of things race up (as gold has been) to meet their fair value, they usually overshoot. Hence, the prediction would be that gold should go much above its current fair value during this current longer bull market Link to comment Share on other sites More sharing options...
romans holiday Posted July 28, 2008 Report Share Posted July 28, 2008 That's a very good summary 'romans holiday' From that interview, one mght also argue that if gold is now at some kind of 'fair value' based upon the old 20 dollar coin metric, then its been undervalued for many recent years. And as we know, when prices of things race up (as gold has been) to meet their fair value, they usually overshoot. Hence, the prediction would be that gold should go much above its current fair value during this current longer bull market Yep, and something I found a bit strange was though they happily agreed the dollar had been inflated [and debased if I remember correctly] they did not further ask if that would involve some kind of end game for the dollar in the future. Which would of course put gold in an entirely new light. Link to comment Share on other sites More sharing options...
ziknik Posted July 28, 2008 Report Share Posted July 28, 2008 Sorry if this is old news, I haven’t seen it anywhere. The Bank of England has sold all of its gold! I have put together this graph of the UKs gold holdings. The continuous line is the Treasury. The dotted line is the Bank of England. $ is a log scale. http://www.bankofengland.co.uk/statistics/.../Tempoutput.pdf EDIT to correct graph line Link to comment Share on other sites More sharing options...
romans holiday Posted July 28, 2008 Report Share Posted July 28, 2008 what a bunch of numpties. Link to comment Share on other sites More sharing options...
drminky Posted July 28, 2008 Report Share Posted July 28, 2008 Daily smackdown time again. I get the feeling they are setting up a 'short suckers trap'. 5 days in a row we've had the smackdown at exactly the same time every day. This is getting too predictable, too easy a trade. I wouldn't be surprised to see the big boys change the game very soon and catch the danny day-trader shorts with their pants down.. Link to comment Share on other sites More sharing options...
sossij Posted July 28, 2008 Report Share Posted July 28, 2008 Nice recovery going on... sorry, I mean "noise" Link to comment Share on other sites More sharing options...
G0ldfinger Posted July 28, 2008 Author Report Share Posted July 28, 2008 'cause oil is just too cheap 100% guaranteed. Link to comment Share on other sites More sharing options...
kernull Posted July 28, 2008 Report Share Posted July 28, 2008 what a boring trading in the consecuitive days ... only platinum is promising, but gold and silver are kind of stuck, they can't make a high 'cos oil not yet corrects, and they can't make a low 'cos the lows are re-re-re-retested lets see if fun starts with consumer confidence tomorrow Link to comment Share on other sites More sharing options...
Pixel8r Posted July 28, 2008 Report Share Posted July 28, 2008 Jim has upped his $1650 target Jim Sinclair’s Commentary There is no practical solution to the present credit market problems. There are only acts of desperation in reaction to each crisis further corrupting the shaking foundation of the US dollar. This is an act of monetizing bankrupt home mortgages. Bankrupt home mortgages have more problems than just resets. This is the application of a tool that is guaranteed to put additional pressure on the US dollar once the fooled fools wake up. This is how Weimar got into irreversible monetary problems. This implies that I am wrong about gold only reaching $1650 and brings into play, fundamentally, the possibility of the two Angels above this level. Have you protected yourself from what is now inevitable? Link to comment Share on other sites More sharing options...
hotspur Posted July 28, 2008 Report Share Posted July 28, 2008 That's a very good summary 'romans holiday' From that interview, one mght also argue that if gold is now at some kind of 'fair value' based upon the old 20 dollar coin metric, then its been undervalued for many recent years. And as we know, when prices of things race up (as gold has been) to meet their fair value, they usually overshoot. Hence, the prediction would be that gold should go much above its current fair value during this current longer bull market as i have ben saying for some weeks here gold must be seen to what one gets.i think that we are in a inflationary situation(fiat money)and only at the beginning of stage two of the gold bull. base metals took the forefront which is normal if you look at the rough history of commodity bulls they will move higher but in% they have had there biggest move already.oil is blowing off at the end of its stage two move.softs are as always the big if.but as everybody knows the KING(gold)always enters the hall with his poshed up QUEEN(silver)when all the guests are there! just wait maybe 1980 1oz 700 beers or 1923 24000 loafs of bread -----------GET IT IN YOUR FIST !!!!!!!!!!!!!!!!!!!!!! listen to jim Link to comment Share on other sites More sharing options...
hotspur Posted July 28, 2008 Report Share Posted July 28, 2008 the above is based on a 17 year bull market what if this is 40 year bull move as in the 1800s industrial revolutionary spread to europe and n.am from about 1850 1st world exhibition in hyde park then holding big companys such as rio -bhp freeport-anglo-gg-etc will pay great divi over the years think about it. im always a long hold and have played the furtures and options game for years but the problem with it is you will be dead before you can enjoy it Link to comment Share on other sites More sharing options...
paulypaul Posted July 28, 2008 Report Share Posted July 28, 2008 Ive been on the podcast thread and was listening to a few of the selections and now have a few serious queries. The practical investor on the sow with Tim Wood seems to think gold is on its way back down along with other commodities. i.e. the bubble is over. http://www.thepracticalinvestor.com/new/th...ticalinvestor1/ Also on the yorba tv a couple of days ago, another fella (forgot his name - but you could find it in the archive) talking about golds lower highs being a bearish signal and that its on its ways down http://www.yorba.tv/ I know I can't ask anybody to ease my mind, but seeing as these talk shows were recommended by users on this site I would love others opinions on this bearish scenario. Regards and thanks. Link to comment Share on other sites More sharing options...
hotspur Posted July 28, 2008 Report Share Posted July 28, 2008 Ive been on the podcast thread and was listening to a few of the selections and now have a few serious queries. The practical investor on the sow with Tim Wood seems to think gold is on its way back down along with other commodities. i.e. the bubble is over. http://www.thepracticalinvestor.com/new/th...ticalinvestor1/ Also on the yorba tv a couple of days ago, another fella (forgot his name - but you could find it in the archive) talking about golds lower highs being a bearish signal and that its on its ways down http://www.yorba.tv/ I know I can't ask anybody to ease my mind, but seeing as these talk shows were recommended by users on this site I would love others opinions on this bearish scenario. Regards and thanks. i wish we all stop thinking in fiat paper money can go to the moon but gold buys you bread and water things will rollback but gold hasnt moved yet only up 300% $ 200% euro in 6-8 years most people are still 90% fiat and 10 % houses or there abouts and this is very weimar they even sell cos they think in government numbers all paper will land there were it belongs in the higher caughts with no justice for the trapped you and me --GET IT IN YOUR FIST !!! Link to comment Share on other sites More sharing options...
hotspur Posted July 28, 2008 Report Share Posted July 28, 2008 Ive been on the podcast thread and was listening to a few of the selections and now have a few serious queries. The practical investor on the sow with Tim Wood seems to think gold is on its way back down along with other commodities. i.e. the bubble is over. http://www.thepracticalinvestor.com/new/th...ticalinvestor1/ Also on the yorba tv a couple of days ago, another fella (forgot his name - but you could find it in the archive) talking about golds lower highs being a bearish signal and that its on its ways down http://www.yorba.tv/ I know I can't ask anybody to ease my mind, but seeing as these talk shows were recommended by users on this site I would love others opinions on this bearish scenario. Regards and thanks.[/quot Link to comment Share on other sites More sharing options...
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