LauraB Posted June 17, 2009 Report Share Posted June 17, 2009 I have a gut feeling you are right but why would Paulson buy his gold in the first quater if he could have got it cheaper in the summer? Everyone knows gold falls in the summer, but not always. Who knows; maybe Hank had a bonus & decided to spend it before his wife frittered it away on shoes for the kids? ___________________________________ Pixel8r, please forgive me saying this but who are charts for in a rigged game? Just my simple view but if I had some of the controls & Hank had given me a stack of the old tokens knowing they had a limited shelf life & knowing this throw was possibly the last chance for my power base, I would want to get the most out of them. Link to comment Share on other sites More sharing options...
ziknik Posted June 17, 2009 Report Share Posted June 17, 2009 Is anyone watching BBC Breakfast? They’ve been doing a gold report for around 10 minutes. “The gold price is rising” over and over again. They went to a gold selling party where the featured guest didn’t look like they wanted to sell because “The gold price is rising”. Followed by an interview with a guy who recommended keeping hold of gold because “The gold price is rising” And then on to a guy who remodels / reshapes gold. Link to comment Share on other sites More sharing options...
njpurser Posted June 17, 2009 Report Share Posted June 17, 2009 Is anyone watching BBC Breakfast? They’ve been doing a gold report for around 10 minutes. “The gold price is rising” over and over again. They went to a gold selling party where the featured guest didn’t look like they wanted to sell because “The gold price is rising”. Followed by an interview with a guy who recommended keeping hold of gold because “The gold price is rising” And then on to a guy who remodels / reshapes gold. I think this is much more important than daily price action. I also think, like most programming, it takes repeated exposure and therefore time. keep those pictures of rockets handy Z..... Nick Link to comment Share on other sites More sharing options...
aliveandkicking Posted June 17, 2009 Report Share Posted June 17, 2009 Is anyone watching BBC Breakfast? They’ve been doing a gold report for around 10 minutes. “The gold price is rising” over and over again. They went to a gold selling party where the featured guest didn’t look like they wanted to sell because “The gold price is rising”. Followed by an interview with a guy who recommended keeping hold of gold because “The gold price is rising” And then on to a guy who remodels / reshapes gold. If you make stuff and have a pile of useless stuff that is expensive and useful stuff is cheap and you expect inflation would you accumulate useless stuff that is expensive or useful stuff that is cheap? Seems a no brainer so far. Now if you add in the fact that the markets you sell your useful stuff to are in a bit of trouble and they tend to produce or have ownership interest in the cheap stuff you need to buy to make the stuff you sell to them it makes sense to stock up on cheap stuff to support those markets. And if you can ramp up the price of the expensive stuff you can then buy more cheap stuff. Link to comment Share on other sites More sharing options...
romans holiday Posted June 17, 2009 Report Share Posted June 17, 2009 If you make stuff and have a pile of useless stuff that is expensive and useful stuff is cheap and you expect inflation would you accumulate useless stuff that is expensive or useful stuff that is cheap? If currencies get into trouble then the useless stuff might become the most useful stuff of all... because without it you might not be able to say this is cheap and that is expensive of anything. Link to comment Share on other sites More sharing options...
aliveandkicking Posted June 17, 2009 Report Share Posted June 17, 2009 If currencies get into trouble then the useless stuff might become the most useful stuff of all... because without it you might not be able to say this is cheap and that is expensive of anything. There is some evidence the stones for the pyramids were split with iron wedges and hammers provided by the Hittites although in modern times the academics say the stones were sawn with copper. Neither iron or copper would have been cheap in those times. Iron might have been the most expensive of metals even because the secret of iron was only known by the Hittites. And you can sort of imagine the Hittites potentially had the nuclear weapons of their day because no other group of solidiers would dare to fight them unless they were numerically superior or had nothing to lose Currencies can come and go. Rulers may yet one day demand taxes in gold but unless we go back to these medieval type thought patterns why would they? Link to comment Share on other sites More sharing options...
romans holiday Posted June 17, 2009 Report Share Posted June 17, 2009 Currencies can come and go. Rulers may yet one day demand taxes in gold but unless we go back to these medieval type thought patterns why would they? Because the signs we use as money today no longer signify anything. Modern currencies historically evolved as signs... gold/silver were the signified. Modern economics, on the gold standard, recognised this which allowed the long period of prosperity and progress throughout the nineteenth century. Post-modern economics, where Keynes had the first foot in the door, disconnected the signs. Due to the "cultural capital" they inherited, the system made do and trundled along relatively well but it has now pretty much lost its momentum. I doubt it can survive another episode where the general populace wakes up from money illusion to question the value of their money. The once great progressive American economy can not provide a backstop as its [financial] collapse will be the very cause of the crisis. In the ensuing [financial] chaos, reality will force even the most rationalist and anachronistic of economists to recognize the role gold has played throughout history. [edited] Link to comment Share on other sites More sharing options...
nicejim Posted June 17, 2009 Report Share Posted June 17, 2009 Who knows; maybe Hank had a bonus & decided to spend it before his wife frittered it away on shoes for the kids? John Paulson, not Hank. Although I'd not be surprised if Hank has some too. Is anyone watching BBC Breakfast? They’ve been doing a gold report for around 10 minutes. There was a piece on the German gold vending machines on radio 5 this morning. Link to comment Share on other sites More sharing options...
romans holiday Posted June 17, 2009 Report Share Posted June 17, 2009 There was a piece on the German gold vending machines on radio 5 this morning. The machines are made out of gold? Have you heard of "the hole in the gang"? Link to comment Share on other sites More sharing options...
aliveandkicking Posted June 17, 2009 Report Share Posted June 17, 2009 Because the signs we use as money today no longer signify anything. Modern currencies historically evolved as signs... gold/silver were the signified. Modern economics, on the gold standard, recognised this which allowed the long period of prosperity and progress throughout the nineteenth century. Post-modern economics, where Keynes had the first foot in the door, disconnected the signs. Due to the "cultural capital" they inherited, the system made do and trundled along relatively well but it has now pretty much lost its momentum. I doubt it can survive another episode where the general populace wakes up from money illusion to question the value of their money. The once great progressive American economy can not provide a backstop as its collapse will be the very cause of the crisis. In the ensuing chaos, reality will force even the most rationalist and anachronistic of economists to recognize the role gold has played throughout history. If you decide the future you can create any reality you want. Once you take out all of the guesses that you assume are tomorrows facts what have you got? Gold will only become the asset that people use as 'money' again if we no longer type on computers that need a vast range of other valueable materials and very little gold and people decide not to use copper or any other metal as 'money'. And the USD will crumble when my viewsonic LCD is not made for a California company and my Finnish Nokia cell phone is no longer made by an American owned company and my operating system is not made by an American company and when most of the worlds computer patents are not held by another American company and when German and it seems the rest of the worlds production does not collapse because the USA is having some problems. Reality will probably record a few adjustments and the recession will end and life will trundle on somehow. In reality the logical mind selects what it thinks is important and then creates theories and then builds abstractions which it perceives as being true. But you already know that part. Link to comment Share on other sites More sharing options...
romans holiday Posted June 17, 2009 Report Share Posted June 17, 2009 If you decide the future you can create any reality you want. Once you take out all of the guesses that you assume are tomorrows facts what have you got? Gold will only become the asset that people use as 'money' again if we no longer type on computers that need a vast range of other valueable materials and very little gold and people decide not to use copper or any other metal as 'money'. And the USD will crumble when my viewsonic LCD is not made for a California company and my Finnish Nokia cell phone is no longer made by an American owned company and my operating system is not made by an American company and when most of the worlds computer patents are not held by another American company and when German and it seems the rest of the worlds production does not collapse because the USA is having some problems. Reality will probably record a few adjustments and the recession will end and life will trundle on somehow. In reality the logical mind selects what it thinks is important and then creates theories and then builds abstractions which it perceives as being true. But you already know that part. See edit. Link to comment Share on other sites More sharing options...
enrieb Posted June 17, 2009 Report Share Posted June 17, 2009 Time to cash in your gold? http://news.bbc.co.uk/1/hi/uk/8104479.stm A new kind of party plan is sprouting, where rather than buying make-up or Tupperware, guests are bringing and selling their gold. A popular idea from America, it is thought the parties have been brought about by the economic climate and the high price of gold. Link to comment Share on other sites More sharing options...
lowrentyieldmakessense(honest!) Posted June 17, 2009 Report Share Posted June 17, 2009 Time to cash in your gold? http://news.bbc.co.uk/1/hi/uk/8104479.stm they are making this up surely are there any parties for selling overpriced property Link to comment Share on other sites More sharing options...
warpig Posted June 17, 2009 Report Share Posted June 17, 2009 Is there a beginners thread we can point him to? If you decide the future you can create any reality you want. Once you take out all of the guesses that you assume are tomorrows facts what have you got? Gold will only become the asset that people use as 'money' again if we no longer type on computers that need a vast range of other valueable materials and very little gold and people decide not to use copper or any other metal as 'money'. And the USD will crumble when my viewsonic LCD is not made for a California company and my Finnish Nokia cell phone is no longer made by an American owned company and my operating system is not made by an American company and when most of the worlds computer patents are not held by another American company and when German and it seems the rest of the worlds production does not collapse because the USA is having some problems. Reality will probably record a few adjustments and the recession will end and life will trundle on somehow. In reality the logical mind selects what it thinks is important and then creates theories and then builds abstractions which it perceives as being true. But you already know that part. Link to comment Share on other sites More sharing options...
aliveandkicking Posted June 17, 2009 Report Share Posted June 17, 2009 Is there a beginners thread we can point him to? Another computer person who thinks the contents of his imagination describes reality. Link to comment Share on other sites More sharing options...
warpig Posted June 17, 2009 Report Share Posted June 17, 2009 You have a way of saying nothing in far too many words. Another computer person who thinks the contents of his imagination describes reality. Link to comment Share on other sites More sharing options...
HPCsoYESTERDAY Posted June 17, 2009 Report Share Posted June 17, 2009 Another computer person who thinks the contents of his imagination describes reality. some basic Questions for you. why do central banks hold gold? indeed why are the Chinese buying Gold?, Why do Indians value gold so much, Why does gold represent a store of value? finally, please inform us of your predictions re. the gold price in 1 month, 6 months, 12 months, 2 years Link to comment Share on other sites More sharing options...
aliveandkicking Posted June 17, 2009 Report Share Posted June 17, 2009 You have a way of saying nothing in far too many words. Seems like a conversation to me. Link to comment Share on other sites More sharing options...
aliveandkicking Posted June 17, 2009 Report Share Posted June 17, 2009 some basic Questions for you. why do central banks hold gold? indeed why are the Chinese buying Gold?, Why do Indians value gold so much, Why does gold represent a store of value? finally, please inform us of your predictions re. the gold price in 1 month, 6 months, 12 months, 2 years I had the impression Central banks dont hold much gold. And you can reason that providing they can buy gold with their own balance sheet there is no need to hold much gold. If they do hold gold maybe it is because they want to sell it at some point or some countries demand settlement in gold sometimes. I think the Bank of international settlements might be settling in gold for the net differences? Are the Chinese buying so much gold? They are also supposedly buying iron ore. Gold does seem to be an Asian thing i agree. Could be cultural or maybe the area is so unstable it just makes sense to be able to run to the hills carrying some gold? Anyway the Chinese announced on November 9 they would spend 286B USD over the next 2 years to stimulate internal chinese demand. And if the chinese get gold then the gold seller got USD? Or are the chinese as a major gold miner supporting their own mines? What will the seller do with the USD that are being spent? Perhaps he will buy US products. And there are many to chose from, so the US economy, as the largest manufacturing nation on earth gets stimulated when it needs it. The USA and China have long standing relations so not much is going to change there. There actions are likely to support the USA rather than undermine it. Gold is a store of value. If you bury it it will remain like it is for millions of years. If you worry about the future to the point that you believe our current system will break down then gold makes sense. On the other hand if you are wealthy gold is heavy and creates all manner or risks so unless you have a private army and are handy with guns and killing i am not so sure it does make sense. As for the price of gold i was earlier responding to the idea the USD was about to become worthless which seems pretty unlikely to me for the reasons i pointed out. Probably by early 2010 some kind of bottom will be in place for US housing. Meanwhile the financial crisis is spreading into the real economy around the world and all currencies are going to suffer i would imagine. There are actually relatively very few USD in the world. The rest are USD which are owed to other people. Since people are paying what they owe back and some are losing what is owed the relative amount of money that people think of as USD is declining and the real amount is not really rising dispite the actions of central banks. Therefore the USD could rise because the USD is the real thing that backs most of what people imagine is the USD, which is in fact commercial bank money denominated in USD. Very counter intuitive but it reflects the realities of banking. At the end of the day the whole situation is so complex i dont know either way. But when people cant see the complexity and only see certain outcomes then i tend to want to point out they might be missing something in their hurry to create their desired realities. For most of us the future is unknown. And really there is not one future but many depending on what happens today or tomorrow. Link to comment Share on other sites More sharing options...
Gatesy Posted June 17, 2009 Report Share Posted June 17, 2009 Time to cash in your gold? http://news.bbc.co.uk/1/hi/uk/8104479.stm I've said it before and I'll say it again: When the mainstream is encouraging people to BUY gold not sell it that may be the time to sell. Link to comment Share on other sites More sharing options...
dietcolaaddict Posted June 17, 2009 Report Share Posted June 17, 2009 There's now a short-term head and shoulders pattern at the end of the long-term inverse head and shoulders pattern Link to comment Share on other sites More sharing options...
stobar Posted June 17, 2009 Report Share Posted June 17, 2009 I've said it before and I'll say it again: When the mainstream is encouraging people to BUY gold not sell it that may be the time to sell. Why - when Supply/demand reasoning suggests the opposite? I don't get it. Link to comment Share on other sites More sharing options...
Gatesy Posted June 17, 2009 Report Share Posted June 17, 2009 Why - when Supply/demand reasoning suggests the opposite? I don't get it. Was property porn on TV suggesting you buy or sell houses at the top? Link to comment Share on other sites More sharing options...
stobar Posted June 17, 2009 Report Share Posted June 17, 2009 Was property porn on TV suggesting you buy or sell houses at the top? You think gold has 'topped' then? Link to comment Share on other sites More sharing options...
FWIW Posted June 17, 2009 Report Share Posted June 17, 2009 Good read here with important history... Might help some people or it might not... http://www.gold-speculator.com/mark-lundee...lver-comex.html Quote I Like: The “reserve currency” feature in the BWA made the US dollar gold’s replacement for monetary reserves internationally, and the unit of account for settlement of international trade imbalances. To protect the system from inflation, the US Treasury was not to issue more than $35 paper dollars for every ounce of gold held in its gold reserves. Unfortunately, no one has more disrespect for Federal Law than Washington’s “policy makers.” Ten years after the ink dried on Bretton Woods, we see in the chart below how Washington started printing paper money in excess of its gold reserves. After WW2, much of “America’s gold” actually belonged to European banks. Their gold was brought to America during the 1930s for safe keeping from Hitler. They had no problem depositing their gold in the NY Fed’s vaults, * until * Washington began printing paper dollars in excess of their gold reserves. For the second time since 1913, the paper dollar became inflationary. Link to comment Share on other sites More sharing options...
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