romans holiday Posted July 7, 2009 Report Share Posted July 7, 2009 Gold staying strong. Investors are being motivated by more than inflationary concerns here. Link to comment Share on other sites More sharing options...
FWIW Posted July 7, 2009 Report Share Posted July 7, 2009 Back in March, I made a "Twilight Zone" gold chart...I have mashed it up with the marketskeptics chart to see how 18th March 2009 fits... Link to comment Share on other sites More sharing options...
nicejim Posted July 7, 2009 Report Share Posted July 7, 2009 California is 1.8 trillion, Canada is 1.2...Expressed another way, a country a third larger than Canada I'll gladly pay over the odds if this guy wants to sell me a third of his gold. But something tells me he doesn't. Link to comment Share on other sites More sharing options...
tinecu Posted July 7, 2009 Report Share Posted July 7, 2009 Interesting find! I don't vist GIM as much as I should as I don't have a log in. Still waiting for registration to be opened. romGIM: http://goldismoney.info/forums/showthread....66&page=699 SafeBetter Thanks. Some great stuff on there. Link to comment Share on other sites More sharing options...
G0ldfinger Posted July 7, 2009 Author Report Share Posted July 7, 2009 http://www.bloomberg.com/apps/news?pid=206...d=aEVdnjdCm1W0# Debt Burden Quickens Power Shift as G-8 Loses Clout (Update2) By James G. Neuger July 7 (Bloomberg) -- The world’s most affluent nations will take decades to work off the biggest buildup in debt since World War II. The political costs may be permanent, laid bare at this week’s Group of Eight summit of leading industrial powers. Bank bailouts and recession-fighting measures will explode the debt of the advanced economies to at least 114 percent of gross domestic product in 2014, more than triple the 35 percent of the main emerging economies including China, the International Monetary Fund forecasts. ... How much U.S. debt to keep remains in dispute. Russian President Dmitry Medvedev and Indian economic adviser Suresh Tendulkar have questioned the dollar’s dominance of the world’s $6.5 trillion in currency reserves. The BRIC get-together failed to endorse a Russian call for diversification from the dollar, showing it is easier to denounce the U.S.-led world order than come up with a viable alternative. ... Why paying debt off for decades if you can inflate it away? Anway, I read that the world has $6.5 trillion in currency reserves (presumably at present exchange rates). Central banks apparently hold 30,000 tonnes of gold. I conclude that the equilibrium price of gold is $6,738.33/oz at CURRENT exchange rates. Those might change of course, and also the general circumstances (that are still pretty rosy right now). Link to comment Share on other sites More sharing options...
lowrentyieldmakessense(honest!) Posted July 7, 2009 Report Share Posted July 7, 2009 http://www.bloomberg.com/apps/news?pid=206...d=aEVdnjdCm1W0# Why paying debt off for decades if you can inflate it away? Anway, I read that the world has $6.5 trillion in currency reserves (presumably at present exchange rates). Central banks apparently hold 30,000 tonnes of gold. I conclude that the equilibrium price of gold is $6,738.33/oz at CURRENT exchange rates. Those might change of course, and also the general circumstances (that are still pretty rosy right now). seems about right at that price you get to a similar Figure if you value all the cash deposits held in the US - in the past gold has at least balanced out at or above this level edit to add Link to comment Share on other sites More sharing options...
InSilverWeTrust Posted July 7, 2009 Report Share Posted July 7, 2009 New video from Mike Maloney - http://www.youtube.com/watch?v=3q-hGMu_gNg Link to comment Share on other sites More sharing options...
G0ldfinger Posted July 7, 2009 Author Report Share Posted July 7, 2009 There is nothing new under the sun. Gentlemen, I have had men watching you for a long time and I am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the bank. You tell me that if I take the deposits from the bank and annul its charter, I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves. Andrew Jackson (1767-1845) 7th US President Source: in 1836, Jackson forced the closing of the Second Bank of the U.S. by revoking its charter http://quotes.liberty-tree.ca/quote/andrew...kson_quote_4f92 Link to comment Share on other sites More sharing options...
drbubb Posted July 7, 2009 Report Share Posted July 7, 2009 Posted on HPC - slightly tongue-in-cheek / Gold-talk on this too... 7/7/2009 Cnbc : Brace For "october Crash" - Enzio Von Pfeil, David Rosenberg - Green Shoots are little more than noise. This guy warned you BEFORE the market peaked in mid-June Podcast: http://commoditywatch.podbean.com/2009/06/...-tide-changing/ FTSE Just thought I should set the record straight (haha) Personally, I started taking some profits Tuesday on my Puts, in case market fails to break that support == == == Although I didnt say it on HPC, Yesterday I started nibbling on Gold etfs. I bought back some of the short side of my "Bull Spread" on GLD: + GLD $ 90 Calls : OQAAL / $11.80 - $12.20 - GLD $100 Calls : OQAAV / $ 8.50 - $ 8.80 (originally Bought the Bull spread at over $3.00, to have a position that would make money if Gold suddenly ran up.) I also have buy orders in place on lower strike Calls for March 2010 Link to comment Share on other sites More sharing options...
G0ldfinger Posted July 8, 2009 Author Report Share Posted July 8, 2009 ... I started taking some profits Tuesday on my Puts, in case market fails to break that support Puplava (in his last show) seems to think the S&P 500 could go back to over 1,100. I think he is once more far too optimistic on the stock markets. Link to comment Share on other sites More sharing options...
FishingwithJesse Posted July 8, 2009 Report Share Posted July 8, 2009 This song is simply beatiful... Good Night! From: News.... Yuan Deposes Dollar on China’s Border in Sign of Trade’s Future By Bloomberg News July 8 (Bloomberg) -- Huang Xinyuan, who sells mining equipment and pesticides to customers across China’s border with Vietnam, says he no longer wants payment in U.S. dollars and prefers the yuan. Sales using the greenback at Guangxi Jinbei Group, where Huang is vice president, dropped to 30 percent of contracts in 2008 from 87 percent in 2007. The yuan, which has gained 21 percent since it was allowed to strengthen against the dollar starting in 2005, offers greater stability, he said. “In recent years, the dollar has gone in only one direction and that is down,” said Huang, 45, in his second- floor office in Pingxiang, a town set amongst karst limestone hills and sugar-cane fields in China’s southwest Guangxi Zhuang Autonomous Region, three kilometers (1.9 miles) from Vietnam. “Settling our orders in yuan removes a major risk.” China expanded yuan settlement agreements last week from border zones to its largest financial centers, including Shanghai, Guangzhou and Hong Kong. The program is being rolled out across Malaysia, Indonesia, Brazil and Russia, all nations seeking to reduce the dollar’s role as the linchpin of world finance and trade. The central bank first brought up the concept of a supranational currency to replace the greenback in reserves in March. It will sponsor use of the yuan in trade by arranging export tax rebates. Russia and India said the global financial crisis had highlighted the dollar’s flaws and called for a debate before the Group of Eight leaders meet in L’Aquila, Italy, starting today. http://www.bloomberg.com/apps/news?pid=206...id=aTfv_xVi9efw Link to comment Share on other sites More sharing options...
lowrentyieldmakessense(honest!) Posted July 8, 2009 Report Share Posted July 8, 2009 This song is simply beatiful... Good Night! From: some more music and for those who want less war, less debt and less consumption/waste then the gold standard would help move us in the right direction http://petitions.number10.gov.uk/TheGoldStandard/ From: http://www.youtube.com/watch?v=Jpz5eD9L4dA http://www.youtube.com/watch?v=Jpz5eD9L4dA Link to comment Share on other sites More sharing options...
chazza Posted July 8, 2009 Report Share Posted July 8, 2009 Puplava (in his last show) seems to think the S&P 500 could go back to over 1,100. I think he is once more far too optimistic on the stock markets. I agree, he seems to have been caught up in the bullishness, a sign we are close to the top. I note he did then say after 1,100, It could be 1,050 or 1,025. But basically he we recommending buying sotcks.... Link to comment Share on other sites More sharing options...
jerpy Posted July 8, 2009 Report Share Posted July 8, 2009 Found this interesting. Know they don't exactly contribute a great deal but..."El Salvador has become the first country in the world to ban gold mining, thanks in part to opposition from Salvadorean civil society". http://www.ciir.org/progressio/internal/98...d_mining_in_el/ Link to comment Share on other sites More sharing options...
warpig Posted July 8, 2009 Report Share Posted July 8, 2009 Can anyone point out the significance of 6th November 2009 as per Jim S's "In The News Today" post on his website? Why does he think gold will hit $1650 by 06/11/09? Is this one of MA's turn dates? Link to comment Share on other sites More sharing options...
HPCSucks Posted July 8, 2009 Report Share Posted July 8, 2009 Can anyone point out the significance of 6th November 2009 as per Jim S's "In The News Today" post on his website? Why does he think gold will hit $1650 by 06/11/09? Is this one of MA's turn dates? I'm not sure I'd follow his dates too much. I think he once said it would already be at $1,250 by March '09. Then I think there was going to be a launch by the fourth week of June. I'm not saying he's wrong overall, but don't bank on it. Link to comment Share on other sites More sharing options...
warpig Posted July 8, 2009 Report Share Posted July 8, 2009 I'm starting to wonder if he's a little nuts. I'm not sure I'd follow his dates too much. I think he once said it would already be at $1,250 by March '09. Then I think there was going to be a launch by the fourth week of June. I'm not saying he's wrong overall, but don't bank on it. Link to comment Share on other sites More sharing options...
drbubb Posted July 8, 2009 Report Share Posted July 8, 2009 GOLD /GLD : Break or Bounce ? I'm betting: Break, So Gold can follow Oil lower Nice break underway GLD is at $89.10 -1.61 / Pct: -1.77% Link to comment Share on other sites More sharing options...
drbubb Posted July 8, 2009 Report Share Posted July 8, 2009 Can anyone point out the significance of 6th November 2009 as per Jim S's "In The News Today" post on his website? Why does he think gold will hit $1650 by 06/11/09? Is this one of MA's turn dates? Gold is on its way to $870 now. You should be asking what will happen if that breaks. $800, and even $700 are possible. I think some folks here may be in serious denial about what is going on now ! Link to comment Share on other sites More sharing options...
ziknik Posted July 8, 2009 Report Share Posted July 8, 2009 Gold is on its way to $870 now. You should be asking what will happen if that breaks. $800, and even $700 are possible. I think some folks here may be in serious denial about what is going on now ! GBP going down the pan saved us from the UDS PoG last year. Do you think this year will be different? Link to comment Share on other sites More sharing options...
G0ldfinger Posted July 8, 2009 Author Report Share Posted July 8, 2009 Gold is on its way to $870 now. You should be asking what will happen if that breaks. $800, and even $700 are possible. I know what will happen: I will buy more. I think some folks here may be in serious denial about what is going on now ! What IS going on? Link to comment Share on other sites More sharing options...
Mr Pipples Posted July 8, 2009 Report Share Posted July 8, 2009 Yesterday I started nibbling on Gold etfs. Gold is on its way to $870 now. You should be asking what will happen if that breaks. $800, and even $700 are possible. I think some folks here may be in serious denial about what is going on now ! ??? I do appreciate your sharings, Dr B - but I'm often a bit muddled by your game plan. Link to comment Share on other sites More sharing options...
InSilverWeTrust Posted July 8, 2009 Report Share Posted July 8, 2009 mmmm i've not been here long, but i'm also a bit muddled with Bubb on the Metals. Link to comment Share on other sites More sharing options...
wren Posted July 8, 2009 Report Share Posted July 8, 2009 mmmm i've not been here long, but i'm also a bit muddled with Bubb on the Metals. Maybe he's wishing the price down as he begins to make his move. Over on the silver thread there seem to be a few of us doing the same with silver. Link to comment Share on other sites More sharing options...
FishingwithJesse Posted July 8, 2009 Report Share Posted July 8, 2009 Folks, Building Causes to $1250 GOLD Stay with your game, I bought UNG , SLV today ( I have too many GOLD COIN! ) BTY , OIL $59 (SUPPORT ) WATCH OUT ! Good Night Link to comment Share on other sites More sharing options...
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