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#326 |
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Join Date: Sep 2002
Posts: 17,400
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![]() Breaking news....Gold powers on despite increase in margin requirements.
http://www.marketwatch.com/story/cme...ing-2011-08-10 Still trading up in Asian trading as we speak. 5pm Mountain Time *edit* Ok they were successful is slowing this baby down. http://af.reuters.com/article/metals...110811?sp=true I suspect this will be the first in a series of margin hikes much like silver had back in May. Might be some time to get on the gold train if you haven't. Last edited by Meck77; 08-10-2011 at 11:55 PM.. |
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#327 |
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Join Date: Sep 2002
Posts: 17,400
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![]() Steve Forbes predicts that within 3 years the dollar will be backed by gold again.
http://www.youtube.com/watch?v=R0tf30QFhOo |
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#328 |
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Join Date: Sep 2002
Posts: 17,400
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![]() Silver is marching to a a new drum folks. Stock market tanking and the shiny metal is holding tough. That bucks the trend as an industrial metal only. More and more people are pouring money into it for a preservation of wealth.
It takes a stronger stomach than gold because of it's volatility but keep an eye on it. It's a great way to purchase something tangible. http://www.kitco.com/charts/livesilver.html http://www.monex.com/prods/silver_chart.html I'm still bullish on gold but let's face it. Almost $2,000 an ounce is tough to swallow. For that reason alone money will pour into silver. There are trillions of printed dollars and euros with no where to go......The trend is your friend. You can buy silver eagles at your local coin shop for around $3.00 over the spot price you see quoted online. Drop in and convert just 40 bucks into a chunk of silver. Just one way to diversify yourself or family for the long run. If you want to go big www.tulving.com has the best rates. 500 oz for just $2.79 over spot. Last edited by Meck77; 08-18-2011 at 06:04 PM.. |
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#329 | |
Headmaster
Join Date: Apr 2001
Location: in the present moment
Posts: 69,057
Adopt-a-Bronco: Leo-TailGateNut |
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http://www.youtube.com/watch?v=ptIQ9oD4EYo |
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#330 |
Ring of Famer
Join Date: Oct 2003
Posts: 13,023
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![]() Would you trade in a equal amount of platinum for gold? Gold has been trading higher than platinum occasionally the last couple of weeks.
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#331 |
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Join Date: Sep 2002
Posts: 17,400
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![]() I don't track plantinum personally.
Silver up over 5.5% since yesterdays post! Stock market down almost 2%. 7.5% swing in just one day. Silver could easily give a lot of that up in a hurry though. I think the weaker hands have been shaken out of silver though. Last edited by Meck77; 08-19-2011 at 03:32 PM.. |
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#332 |
Ring of Famer
Join Date: Oct 2003
Posts: 13,023
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![]() Hugo Chavez wants physical delivery of all the gold they have abroad starting with England. They also have a lot with JP Morgan, Barclays, and the Bank of Nova Scotia. This could cause a mad scramble with gold that has already been pledged about 100 times over in paper to others.
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#333 |
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Join Date: Sep 2002
Posts: 17,400
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![]() Time to open some vaults and see if the gold is there!
Meanwhile S&P downgrades Chavez on August 19th, 2011 just because he wants to see his gold. Interesting... http://online.wsj.com/article/BT-CO-...19-712635.html |
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#334 | |
Ring of Famer
Join Date: Apr 2006
Posts: 17,539
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![]() Quote:
Check out what Michael Hudson has to say about the rating agencies... Guard-Dogs for the Banks The Case Against Rating Agencies By MICHAEL HUDSON http://www.counterpunch.org/hudson08192011.html |
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#335 | |
Ring of Famer
Join Date: Oct 2003
Posts: 13,023
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#336 |
Headmaster
Join Date: Apr 2001
Location: in the present moment
Posts: 69,057
Adopt-a-Bronco: Leo-TailGateNut |
![]() It's fast approaching time to trade your gold for silver.
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#337 |
Sauced...
Join Date: Apr 2004
Posts: 15,031
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#338 |
Ring of Famer
Join Date: Sep 2002
Location: In the Tetons!
Posts: 26,972
Adopt-a-Bronco: WorrellWilliams |
![]() Invest in seeds. When you have to grow your own food, no amount of gold or silver is gonna help you... you may want to invest in some farming equipment too... just saying...
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#339 |
Sauced...
Join Date: Apr 2004
Posts: 15,031
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#340 | |
Ring of Famer
Join Date: Oct 2003
Posts: 13,023
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#341 |
Ring of Famer
Join Date: Sep 2002
Location: In the Tetons!
Posts: 26,972
Adopt-a-Bronco: WorrellWilliams |
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#342 |
Sauced...
Join Date: Apr 2004
Posts: 15,031
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#343 |
Ring of Famer
Join Date: Sep 2002
Location: In the Tetons!
Posts: 26,972
Adopt-a-Bronco: WorrellWilliams |
![]() Personally, I'm looking forward to going back to an agrarian(sp?) society. Don't fight it people!
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#344 |
A verbis ad verbera
Join Date: Mar 2006
Posts: 39,068
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![]() I'd rather just join a roving gang that rapes and pillages when society breaks down. Spider already doing that and he seems pretty happy!
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#345 |
Ring of Famer
Join Date: Apr 2006
Posts: 17,539
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![]() Look at the curve. The price of gold started to go up up up after 9/11.
It's volatile but the bull market has continued. How to explain the present drop? Good question -- but we know there is vastly more (at east 2-3 times more) gold in existence than the bankers will acknowledge. The present world estimate is 130,000 metric tonnes -- and this is supposedly the total. But we know for a fact that the CIA and Ferdinand Marcos recovered at least 280,000 metric tonnes in the Philippines -- in the period after WW II (into the 1980s). We have been lied to again -- surprised? They are dumping gold to drive the price down -- for a reason. I will hazard a guess. Because they are desperate. If the price of gold climbs to its real value -- whatever the market will bear - the present monetary system will collapse. I conclude: buy gold and silver now while you can. Last man out please turn off the lights on Western civilization as we have known it. MHG |
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#346 |
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Join Date: Jul 2008
Posts: 8,055
Adopt-a-Bronco: Peyton's C3-C5 |
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#347 |
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Join Date: Sep 2002
Posts: 17,400
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![]() It's a healthy pull back as it simply rose way too quickly. Speculators took some profits and weak hands folded. Furthermore the CME raised margin requirements for the paper traders. That means they have to bring more real cash to the table to trade their contracts. This too adds stability to the overall price/base of gold.
http://blogs.barrons.com/focusonfund...opper-futures/ Furthermore the USD has "gained" strength because of the turmoil in Europe. Kinda scary to the think the USD is actually considered a safe haven for the moment. http://www.marketwatch.com/investing/index/DXY Click on one year or 3 month chart to see what I mean. The swiss lost that status when they pegged their franc to the Euro. Smart money is buying this dip. Last edited by Meck77; 09-28-2011 at 07:54 PM.. |
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#348 |
Ring of Famer
Join Date: Apr 2006
Posts: 17,539
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![]() Yes, Meck -- but how do you explain the fact that both gold AND stocks are going down?
This is not natural. As stocks go down gold should be going up. This is fishy and tells us the gold markets are being manipulated down. There must be a reason. I shudder to think what Goldman Sachs has up its sleeve. Looks like a big shyte storm ahead. Only fools will sell their gold -- in this environment. When it goes down some more -- I plan to buy. Later, it will go up like a rocket. |
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#349 | |
Headmaster
Join Date: Apr 2001
Location: in the present moment
Posts: 69,057
Adopt-a-Bronco: Leo-TailGateNut |
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#350 | |
Headmaster
Join Date: Apr 2001
Location: in the present moment
Posts: 69,057
Adopt-a-Bronco: Leo-TailGateNut |
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It's really better to spend your assets on storable food now. |
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