GOLD

[Indium]

It's not a matter of what you want, it's a matter of what I think is appropriate.

 

Wottwotril has been naughty over the past couple of days. Others have been naughty too, especially on the naughty thread, but I have to make a start somewhere. Catflap better also keeps it a little bit down for the rest of tonight, and you GOM please also behave and don't try to summon the ghost of Swampy. And let's not hope fitkid comes in and posts 5 images that carry secret or not so secret messages.

 

You watched Mad Max today didn't you!

[Errol]

Days like today are meaningless. We'll see daily moves in gold of $100+ in the years to come.

 

Just relax.

[HPCsoYESTERDAY]

Ooh - the power!!!!

 

 

It's starting to feel like the old HPC site here!

 

ROCK <-----------------------------GF-------------------------------->HARD PLACE

[Catflap]

28 posts in a single day on a gold thread from one poster including a PM to Catflap and some pointless picture.

 

2 references to swampy

 

countless baiting of Catflap and Harvipark

 

Lots of emoticons on every post

 

 

Does grumpy-old-man really need to make 28 posts on the gold thread in a single day when normal people make just a handful - this is blatant trolling and very disruptive to others who like to follow the thread.

[grumpy-old-man]

dollar index sitting at 80.......will it hold tomorrow & go up ??

 

people just don't know where to put that fiat.

 

gold & silver would be good for them right now but they probably don't realise it.

 

I wonder what happens when China wakes up......surely they will step in properly very soon.....

 

what a weekend this will be, I wouldn't like to be holding ANY paper ANYTHING personally. :o

 

we all had enough warnings from cgnao

[bitbigt]

Ladies and Gents,

 

Is the target of 600£/oz still a very likely possiblility?

oh yes!

[G0ldfinger]

Ooh - the power!!!!

 

 

It's starting to feel like the old HPC site here!

Please. I was banned on HPC myself if I might remind you of this.

 

ROCK <-----------------------------GF-------------------------------->HARD PLACE

It's at a stage now where I had to do something. And the baiting comes from both sides. Yesterday I almost banned all present personell on the mud slinger thread.

 

28 posts in a single day on a gold thread from one poster including a PM to Catflap and some pointless picture.

I can't comment on the PM, but if you think it's worth reporting, then you can do so.

 

2 references to swampy

Swampy is like the ex that you simply have to live with (because you meet her regularly at Tesco's or whatever). You can only hope she doesn't know too many of your secrets.

 

countless baiting of Catflap and Harvipark

Seems to go the other direction as well. I have no time to try and figure out who starts every time.

 

Lots of emoticons on every post

 

Does grumpy-old-man really need to make 28 posts on the gold thread in a single day when normal people make just a handful - this is blatant trolling and very disruptive to others who like to follow the thread.

I guess he gets excited about market action every now and then. People have different styles. I have to be careful here not to be too kind to GOM, I haven't read all these 28 posts I must admit. Anyway, GOM usually doesn't swear and his baiting is more subtle than other people's. I'll suspend him too if I see the need.

 

In fact, I would like to suspend DrBubb for a while because he never uses the quote tags.

[Fortune]

In fact, I would like to suspend DrBubb for a while because he never uses the quote tags.

Now you've gone and done it

[Fortune]

I'm going to stick my neck out here:

 

1. $1033 gold will hold for now and we will see another test of the all-time high. Armstrong's key turning point - April 16 - will see the start of the PM decline; possibly visiting Roman's three figures in dollars and 500's in pounds along the way. Silver the dog will follow in sympathy. Wouldn't surprise me to see the 12's again. Silver bugs you have been warned.

 

2. Possible testing of the crash lows in the DOW in May (around the 11th). Gold bug newbies will jump over the cliff and Jim Sinclair will be swamped (no pun intended) with hate mail.

 

3. Miserable gold and silver consolidation all spring and summer until the epic rally begins in the fall (Oct).

 

You can nail that to a mast.

[wren]

At least GF provides some indication to us other posters what's going through his mind and gives people public warnings. He also said when he started as a moderator that those who swear at other posters could get a short suspension, so we know where we stand.

 

On gold, today's 50-dollar takedown is something we need to get used to. Now that gold has been over a 1000 for a while changes of 50 or 100 dollars don't feel so big to me. I had a feeling a takedown was due after a few strong days.

 

I added to my little silver coin collection and also some half sovereigns. I like the size of half sovereigns because as the price of gold goes up and up even one sovereign isn't exactly cheap.

[wren]

In fact, I would like to suspend DrBubb for a while because he never uses the quote tags.

Just the other day I read a post for a couple of paragraphs until I realised it was not DrBubb's own words but he was quoting an article.

 

I always use quotes to indicate that the words are not my own.

[wren]

Just found this video at 24knews. It wonders why the Chinese government is encouraging its populace to buy gold and suggests that future monetization backing the yuan with gold is one possible reason.

From:

 

 

[mSparks]

also, that was exactly the same link as was in my earlier post.

Its not "market rigging"

Its insider trading

 

Same applies to Central Banks/IMF/World Bank/Private Banks etc - in fact any organisation that has first dibs access to information.

[aliveandkicking]

Looking like euro problems are going to take the euro back to the lows of post lehmans with gold doing something similar

 

Euro 1.25 Gold 880?

[G0ldfinger]

Silver the dog will follow in sympathy. Wouldn't surprise me to see the 12's again. Silver bugs you have been warned.

By any chance, you are not Silver Sammy, or are you? Because in that case, I would really have to load the boat.

[grumpy-old-man]

Its not "market rigging"

Its insider trading

 

Same applies to Central Banks/IMF/World Bank/Private Banks etc - in fact any organisation that has first dibs access to information.

 

I don't understand why you are trying to explain the term 'Insider Trading' to me, & comparing it to the term 'market rigging' ?? bizarre... :blink:

 

 

 

I think some big ego's got flattened yesterday by semi-detached working class GOM.

 

edit - keeping on topic, I see Jim Willie posted this on the 3rd, the day before the crash started.

Not sure if anyone has posted it already, but he discusses the disconnect between the paper & physical markets. We also were discussing this in the silver thread yesterday.

 

"A great disconnect exists in the gold market between the exchange futures contract price (the paper price) and the gold bullion paid price for transactions (the physical price). The differential in price is growing wider, enough to place tremendous pressure on the gold market itself. Look not to the gold premium paid for purchases, but to high volume purchases in the tens of million$. In mid-December, almost every demand for gold contract delivery was matched by a cash delivery, complete with 25% bonus premium offered. The officials even produced a new ledger item called 'Cash For Delivery' that was necessary to balance their badgered books. It prompted little attention. Some call it a basic bribe. Others call it a technical default.

 

 

 

Fast approaching is the event of GAME OVER for London, a condition that has already reached critical level, according to a key reliable source of information with London connections and direct experience with its market events. How long can a major metals exchange sell contracts but have miniscule supply of gold in their vaulted possession? The paper gold market and the physical gold bullion market have finally separated in a practical manner, meaning actual gold has almost no role anymore in London paper contract settlement. The absence of gold in London requires extraordinary tactics to settle contracts and to obtain gold bullion. Red tape procedures delay delivery for individuals, and bribes accompany gold delivery demands as standard practice. The London Bullion Market Assn has almost zero gold, its supply having been drained in high volumes since early December, a process currently in acceleration. The opportunity to convert fiat money into precious metal at prices considered reasonable is also vanishing. The London gold banker said"

[grumpy-old-man]

so when will the FED announce more QE & start buying physical gold then ?

 

or would it be just a lot easier to mimic history & just confiscate it through new laws ? (don't quote me on the date pedants, it's not that important in the context of the post)

 

 

h'mmm......

 

what was that event list that cgnao put forward as to what would transpire (notice the underlining )

 

cgnao from June 2008

 

"ZCZC CGNAOGLD2 ALL

TTAA00 KNHC DDHHMM

BULLETIN

MAJOR DERIVATIVE MELTDOWN ALERT

NWS TPC/CGNAO

SUN JUN 08 21:26:46 UTC 2008

 

...BOND INSURERS DOWNGRADES TRIGGERING A FRESH

COLOSSAL WAVE OF DERIVATIVE LOSSES

...UNPRECEDENTED CREDIT MARKET PROBLEMS AT LEAST

ONE ORDER OF MAGNITUDE LARGER THAN AT THE HEIGHT

OF THE GREAT DEPRESSION

...MONETARY SYSTEM ONE STEP AWAY FROM TOTAL COLLAPSE

 

DERIVATIVE LOSSES SURGE, DESPITE MASSIVE INJECTIONS

OF EMERGENCY FUNDS WORTH HUNDREDS OF BILLIONS OF DOLLARS,

A GIANT $150BN US ECONOMIC STIMULUS PACKAGE AND WHOLESALE

REWRITING OF RULES TO ALLOW COMMERCIAL BANKS TO PLEDGE

RISKY ASSETS TO SECURE HIGH QUALITY CENTRAL BANK FUNDS.

 

SO FAR CENTRAL BANKS HAVE ONLY BEEN PREPARED TO LEND GOVERNMENT

SECURITIES AGAINST PLUMMETING MORTGAGE ASSETS, BUT THE SITUATION

IS EXPECTED TO GROW EXPLOSIVE IN THE COMING WEEKS.

 

AS MAJOR BANKS, INSURERS AND OTHER FINANCIAL INSTITUTIONS

AROUND THE WORLD ARE HIT BY SPIRALLING DERIVATIVE LOSSES AND

COLLAPSING COLLATERAL VALUATIONS, CENTRAL BANKS WILL RUN OUT

OF HIGH QUALITY GOVERNMENT SECURITIES.

 

AT THAT POINT THE NEXT DESPERATE MOVES OF WESTERN GOVERNMENTS

AND CENTRAL BANKS ARE EXPECTED TO BE

 

1) A COLOSSAL BAILOUT SCHEME FOR LARGE SCALE OUTRIGHT PURCHASES

OF MORTGAGE SECURITIES, FUNDED BY STRAIGHTFORWARD CREATION OF

CURRENCY WHICH WILL IGNITE A DEADLY HYPERINFLATIONARY PRICE SPIRAL

IN VIRTUALLY EVERY COMMODITY ON THE PLANET AND SKYROCKETING LONG

TERM BOND YIELDS WHICH WILL FURTHER COMPOUND DERIVATIVE LOSSES

WORLDWIDE.

 

2) DRACONIAN CAPITAL AND EXCHANGE CONTROLS

 

3) CONFISCATION OF PRECIOUS METALS

 

PREPARATIONS TO PROTECT FINANCIAL HOLDINGS OF ANY KIND, BUT IN

PARTICULAR GOLD AND SILVER BULLION, BY MOVING THEM AWAY FROM

THE USA, UK AND THE EURO AREA SHOULD BE RUSHED TO COMPLETION

AS SOON AS POSSIBLE. "

[romans holiday]

[lowrentyieldmakessense(honest!)]

1) A COLOSSAL BAILOUT SCHEME FOR LARGE SCALE OUTRIGHT PURCHASES

OF MORTGAGE SECURITIES, FUNDED BY STRAIGHTFORWARD CREATION OF

CURRENCY WHICH WILL IGNITE A DEADLY HYPERINFLATIONARY PRICE SPIRAL

IN VIRTUALLY EVERY COMMODITY ON THE PLANET AND SKYROCKETING LONG

TERM BOND YIELDS WHICH WILL FURTHER COMPOUND DERIVATIVE LOSSES

WORLDWIDE.

delayed because the FED started paying interest on reserves - therefore banks are not lending out the new money. Bit of a catch 22 situation though as the FED needs to continue to offer a higher return than banks can get elsewhere - could end up in a bit of a death spiral

 

we shall see

[Fortune]

By any chance, you are not Silver Sammy, or are you? Because in that case, I would really have to load the boat.

Nah no relation, just call me unlucky

 

Of course if this does occur I'm going to load up my boat as well. The only problem is will there be any physical to buy at that price? These comex shenanigans will ensure that the dealer and refineries will be cleaned out should this transpire.

[grumpy-old-man]

delayed because the FED started paying interest on reserves - therefore banks are not lending out the new money. Bit of a catch 22 situation though as the FED needs to continue to offer a higher return than banks can get elsewhere - could end up in a bit of a death spiral

 

we shall see

 

the important word you used there was 'delayed' but you didn't highlight the rest of that line in commodities.

I think this super spike in certain commodities will definetly happen. We are already seeing a spike (note not 'super') in a lot of commodities generally across the board aren't we ?

 

but yes, you are right as in 'we shall see'.....

[mSparks]

I don't understand why you are trying to explain the term 'Insider Trading' to me, & comparing it to the term 'market rigging' ?? bizarre... :blink:

in http://www.housepricecrash.co.uk/forum/ind...t&p=2350011

you said:

Market rigging is all about timing....

 

Market rigging is where you can set the price to what you would like, no-one can do this, the market is bigger than any one institution, a price requires at least two agents.

 

What your "Legatus" and others can do is get information before anyone else, and use this information to see what the market will price at once it gets this information.

 

The difference is acute.

[aliveandkicking]

1) A COLOSSAL BAILOUT SCHEME FOR LARGE SCALE OUTRIGHT PURCHASES

OF MORTGAGE SECURITIES, FUNDED BY STRAIGHTFORWARD CREATION OF

CURRENCY WHICH WILL IGNITE A DEADLY HYPERINFLATIONARY PRICE SPIRAL

IN VIRTUALLY EVERY COMMODITY ON THE PLANET AND SKYROCKETING LONG

TERM BOND YIELDS WHICH WILL FURTHER COMPOUND DERIVATIVE LOSSES

WORLDWIDE

 

Cgnao seems to have an impressive ability to predict the future and yet appears totally wrong

 

there are massive deflationary forces around the world.

 

There are no massive inflationary forces at work at the moment other than lower interest rates and plenty of money in the banks.

 

There is no possibility of a hyperinflationary price spiral getting out of control while deflationary forces are so massive and CB's are relatively impotent to reverse that until sentiment changes

 

 

 

 

[grumpy-old-man]

in http://www.housepricecrash.co.uk/forum/ind...t&p=2350011

you said:

 

 

Market rigging is where you can set the price to what you would like, no-one can do this, the market is bigger than any one institution, a price requires at least two agents.

 

What your "Legatus" and others can do is get information before anyone else, and use this information to see what the market will price at once it gets this information.

 

The difference is acute.

 

well we will have to agree to differ then. edit - also, 'market rigging' were not my words, but Reinhardt's, I was quoting him but I do agree with him.

 

I am of the belief that one multi-country organisation does exist & is so big & powerful that it creates & runs the agenda for the whole westernised market.

Once you understand & can interpret the top level agenda the rest just starts falling into place. This is done by watching MSM, world government (especially the US though ) politcal statements & policy creation, financial institutions holdings, governing world bodies, IMF, WHO et al & the many websites that capture all this data.

 

edit - let's leave this one here though as I don't want to take the gold thread off track .(bearing in mind yesterdays postings). These will have to be my last words on this matter msparks but perhaps we can discuss on another thread sometime.

[aliveandkicking]

well we will have to agree to differ then.

 

I am of the belief that one multi-country organisation does exist & is so big & powerful that it creates & runs the agenda for the whole westernised market.

Once you understand & can interpret the top level agenda the rest just starts falling into place. This is done by watching MSM, world government (especially the US though ) politcal statements & policy creation, financial institutions holdings, governing world bodies, IMF, WHO et al & the many websites that capture all this data.

 

edit - let';s leave this one here though as I don't want to take the gold thread off track .9bearing in mind yesterdays postings). These will have to be my last words on this matter msparks but perhaps we can discuss on another thread sometime.

 

It is pretty obvious the Feds can trade on the knowledge they have by being the markets biggests players. Pretty obvious that the largest speculative positions they dont like can be targetted and destroyed. On the other hand if there are many smaller players all moving with the market there is not so much they can do.

 

If the potato harvest fails the feds cannot so easily drive down the price of potatos unless there are already large stock piles of potatos.

 

Gold seems an easy target because so much is stockpiled doing nothing at all while not much is consumed or needed.