littledavesab Posted March 30, 2009 Report Share Posted March 30, 2009 Just when you think gold is looking rosy (or shiny and yellow) http://www.reuters.com/article/bondsNews/idUSLT8846420090329 LONDON, March 29 (Reuters) - G20 leaders are expected to discuss using proceeds from planned gold sales by the International Monetary Fund (IMF) to double funding available for poor countries which need help dealing with the global economic crisis, a source familiar with the plan said on Sunday. The source said there was not unanimous support for the idea, including within the IMF, because the IMF's low-interest lending to poor countries does not generate enough return to fund further lending. Regardless of any possible gold sales, IMF Managing Director Dominique Strauss-Kahn has already asked the G20 group of the world's 20 biggest economies to provide additional funding to double resources for IMF low-income programmes. According to a draft G20 communique obtained by the Financial Times, the IMF will be asked to "bring forward, by the spring meetings, proposals to use the proceeds of agreed gold sales to support low-income countries". ----------------- What do you think the odds are on a gold sale? Personally, I cant think of who has the $$$ to provide IMF with the kind of funds it needs? Link to comment Share on other sites More sharing options...
LauraB Posted March 30, 2009 Report Share Posted March 30, 2009 Just when you think gold is looking rosy (or shiny and yellow) http://www.reuters.com/article/bondsNews/idUSLT8846420090329 LONDON, March 29 (Reuters) - G20 leaders are expected to discuss using proceeds from planned gold sales by the International Monetary Fund The IMF might do the decent thing & let us know in advance when the sale will be; just like the Offset Gorbon did some years ago Link to comment Share on other sites More sharing options...
electroweak Posted March 30, 2009 Report Share Posted March 30, 2009 The IMF might do the decent thing & let us know in advance when the sale will be; just like the Offset Gorbon did some years ago I reckon it'll be an off-market transaction entirely with the Chinese. They (the Chinese) said already they are concerned about the USD. They don't want to tip the apple cart over either; Greenspan's money machine worked well for them as well don't forget. Thoughts? Link to comment Share on other sites More sharing options...
lowrentyieldmakessense(honest!) Posted March 30, 2009 Report Share Posted March 30, 2009 The IMF might do the decent thing & let us know in advance when the sale will be; just like the Offset Gorbon did some years ago the reason for gordons announcement? link In 1999, it was rumored that investment bank Goldman Sachs had a 1,000 ton gold short position in the markets. Goldman Sachs was betting that the price of gold would continue to fall and they would be amply rewarded for their apparent “risk”. Because of central bank manipulation, the price of gold had moved inversely to the rise of stocks for almost 20 years and bankers were making easy money on the bet gold would continue its downward spiral. However, much to the shock of Goldman Sachs and the central bankers, in 1999 gold stopped falling; and, because Goldman Sachs’ short position was so large, Goldman possibly could suffer catastrophic losses. This is when England’s then Chancellor of the Exchequer, Gordon Brown, on May 8, 1999 announced England would sell over 50 % of its gold reserves, 415 tons of the most precious metal on earth at the very bottom of the market. The decision to sell England’s gold thereby saved Goldman Sachs and insured the political future of Gordon Brown. Goldman Sachs’ is still in business and Gordon Brown is now the Prime Minister of England—proving that good things come to those who do the bidding of the powerful (whether either outcome was worth 415 tons of England’s gold is questionable) Selling a nation’s gold to save the bankers’ parasitic system is now common practice as the banker’s system continues to collapse and gold continues to rise. Since Gordon Brown sold England’s gold, gold has risen from $275 dollars per ounce to its present price of over $900 despite the thousands of tons of central bank gold sold to prevent its inexorable movement higher. Link to comment Share on other sites More sharing options...
Errol Posted March 30, 2009 Report Share Posted March 30, 2009 If the IMF sell it will send the price of gold up. It always does. Link to comment Share on other sites More sharing options...
Catflap Posted March 30, 2009 Report Share Posted March 30, 2009 Gold now looking bearish to me - head & shoulders pattern and the crossover with the moving averages: http://stockcharts.com/h-sc/ui?s=$GOL...id=p43996656231 Link to comment Share on other sites More sharing options...
InternationalRockSuperstar Posted March 30, 2009 Report Share Posted March 30, 2009 http://www.gata.org/files/PIRATES-OF-THE-COMEX.pdf so not only is HSBC one of the three banks shorting the sh1t out of gold on the COMEX but HSBC is also the custodian of GLD! have I got that right? if I have, then that's seriously f***** up! Link to comment Share on other sites More sharing options...
Member100 Posted March 31, 2009 Report Share Posted March 31, 2009 Anyone had a look at this "instrument" : GoldWorld ? Greg McCoach is involved somehow, and it looks like a 2x geared play on Gold. ++++ "Earlier this year, one of the world's leading international investment managers launched a new, one-of-a-kind investment vehicle designed to double the monthly return of gold prices. Mind you, this investment has been all but ignored by media since its launch. Gold, after all, has never been understood or appreciated by the mainstream, despite its historic economic significance. Still, for every 1% increase in the price of gold, this new gold investment vehicle delivers a positive 2% return! You won't have to open a special account to get in on the action. It trades on the NYSE. Plus, it's completely liquid... and easy to add to any stock account you own right now. The upside here is tremendous, the risk virtually non-existent... when you consider where the U.S. dollar is heading. This gold-doubling investment practically guarantees a 325% gain... in the world's historically safest investment!" ++++ You have to send in your email for a free report Link to comment Share on other sites More sharing options...
sideshow Posted March 31, 2009 Report Share Posted March 31, 2009 It will be the Deutsche Bank traded notes: DGP = PowerShares DB Gold Double Long ETN DZZ = PowerShares DB Gold Double Short ETN DGZ = PowerShares DB Gold Short ETN I added these to my watch list when they first went live but never traded them. I just played it 'safe' and bought bars. They didn't seem that liquid at first but I think they've since become more popular. Link to comment Share on other sites More sharing options...
Steve Netwriter Posted March 31, 2009 Report Share Posted March 31, 2009 so not only is HSBC one of the three banks shorting the sh1t out of gold on the COMEX but HSBC is also the custodian of GLD! have I got that right? if I have, then that's seriously f***** up! IMO there is quite lot that is "f***** up" ! Link to comment Share on other sites More sharing options...
electroweak Posted March 31, 2009 Report Share Posted March 31, 2009 Gold now looking bearish to me - head & shoulders pattern and the crossover with the moving averages: http://stockcharts.com/h-sc/ui?s=$GOL...id=p43996656231 Catflap, re your moving averages; why not 50+200DMA? Your 18 and 45DMAs seem to pick bottoms quite consistently when they cross over (18DMA going below 45DMA)!!! Link to comment Share on other sites More sharing options...
Errol Posted March 31, 2009 Report Share Posted March 31, 2009 No posts all day? What on earth is going on? Link to comment Share on other sites More sharing options...
nicejim Posted March 31, 2009 Report Share Posted March 31, 2009 No posts all day? What on earth is going on? Perhaps there's an April thread...hiding somewhere Link to comment Share on other sites More sharing options...
rgleeson Posted March 31, 2009 Report Share Posted March 31, 2009 Fox network interview with GATA, on the subject of gold price and its manipulation - the presenter points out that all the Gold reserve in Fort Knox (priced today and assuming it is all there) is worth less than what was given to AIG in bailout. A nice succinct point I think on the relative price of $/gold, and one I wasn't expecting from Fox. http://news.goldseek.com/GATA/1238518335.php Link to comment Share on other sites More sharing options...
warpig Posted March 31, 2009 Report Share Posted March 31, 2009 Just sitting here quietly... Waiting for Monday 20th April... No posts all day? What on earth is going on? Link to comment Share on other sites More sharing options...
lowrentyieldmakessense(honest!) Posted March 31, 2009 Report Share Posted March 31, 2009 Just sitting here quietly... Waiting for Monday 20th April... positioned ok Link to comment Share on other sites More sharing options...
frizzers Posted March 31, 2009 Report Share Posted March 31, 2009 What's going to happen on April 20th? There will be a turn, but where? Link to comment Share on other sites More sharing options...
lowrentyieldmakessense(honest!) Posted March 31, 2009 Report Share Posted March 31, 2009 What's going to happen on April 20th? There will be a turn, but where? us treasuries? yen? £ Link to comment Share on other sites More sharing options...
aardvark Posted March 31, 2009 Report Share Posted March 31, 2009 whats so special about the 20th of april? Link to comment Share on other sites More sharing options...
lowrentyieldmakessense(honest!) Posted March 31, 2009 Report Share Posted March 31, 2009 whats so special about the 20th of april? Link to comment Share on other sites More sharing options...
Catflap Posted March 31, 2009 Report Share Posted March 31, 2009 Catflap, re your moving averages; why not 50+200DMA? Your 18 and 45DMAs seem to pick bottoms quite consistently when they cross over (18DMA going below 45DMA)!!! 50+200 DMA isn't precise enough, I think the futures markets tend to use similar DMA's to what I am using. I certainly wouldn't use them for picking tops or bottoms - for that I use stochastics Link to comment Share on other sites More sharing options...
surfdude Posted April 1, 2009 Report Share Posted April 1, 2009 I did a wiki check on Martin A. Armstrong and found he is an expert on cycles and developed his own cyclical theory. He is also in prison for conducting a ponzi scheme on Japanese investors. Does anyone know how he picked the 20th of April as a significant turn date? Link to comment Share on other sites More sharing options...
lowrentyieldmakessense(honest!) Posted April 1, 2009 Report Share Posted April 1, 2009 I did a wiki check on Martin A. Armstrong and found he is an expert on cycles and developed his own cyclical theory. He is also in prison for conducting a ponzi scheme on Japanese investors. Does anyone know how he picked the 20th of April as a significant turn date? http://www.greenenergyinvestors.com/index....st&p=101203 http://www.greenenergyinvestors.com/index....ost&p=15188 Link to comment Share on other sites More sharing options...
sylvester Posted April 1, 2009 Report Share Posted April 1, 2009 MUMBAI (Reuters) - India's domestic gold trading remained thin on Wednesday as banks, the primary sellers of gold, were closed due to financial year-ending holiday. "The business is slow due to a bank holiday, but there are customers enquiring for lower prices," said Haresh Acharya, head of bullion desk at Parker Agrochem Exports in Ahmedabad. Traders said the flow of scrap has slowed as prices have corrected about 6 percent from its record 16,040 rupees struck on Feb. 20. "The flow of scrap has fallen by 70 percent," said Acharya. The benchmark June gold contract was 0.41 percent lower at 15,002 per 10 grams at 1:43 p.m., after hitting a low of 14,986 rupees. Dealers said the disparity between the bank gold and local gold has reduced to nearly zero as rupee had appreciated in Tuesday's trade, igniting hopes of wedding sales ahead. The wedding season starts from mid-April. "Market may witness some buying as disparity has nearly wiped off and even the flow of scrap has reduced," said a dealer with a private bank in Mumbai. Reuters Link to comment Share on other sites More sharing options...
bleakhouse Posted April 1, 2009 Report Share Posted April 1, 2009 http://business.timesonline.co.uk/tol/busi...icle6011960.ece Beware the rush to buy a golden nest eggDavid Wighton: Business Editor's commentary If Ecuador views gold as a safe haven, it must be expecting one hell of a storm. The country has nearly doubled its central bank gold reserves in the past three months, according to data from the World Gold Council. Ecuador, which has a per capita GDP of only $7,700, spent an estimated $840million on 28.4 tonnes of gold in a move that has stunned analysts. Most central banks alter their gold reserves by only a few hundred kilograms every year, while Western central banks have been sellers for a long time. Ecuador, by contrast, spent 5 per cent of the Government's total estimated budget in a mere three months. Given that gold is typically bought as a store of wealth and a hedge against inflation and a devaluing currency, Ecuador's sudden rush into the bullion market suggests that its central bank expects its economy to take a battering. The other large gold buyers in the first quarter of this year were Russia and Venezuela. Russia has a policy of buying gold as a way of diversifying its foreign exchange reserves away from the US dollar. There are strategic and political reasons for Russia's antipathy towards the dollar, which are likely shared by Venezuela. Another surprise buyer recently was the European Central Bank, which sold 71.1 tonnes of gold last year but suddenly reversed in January, spending nearly $100 million to buy 3.3 tonnes. This change of heart has been seen by some gold analysts as an indication that the ECB expects the value of the euro to fall this year. If the ECB continues to buy gold, holders of euros should be nervous. Link to comment Share on other sites More sharing options...
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