Gold is now a bad investment.

[Meck77]

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.

[Meck77]

Steve Forbes predicts that within 3 years the dollar will be backed by gold again.

http://www.youtube.com/watch?v=R0tf30QFhOo

[Meck77]

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.

[baja]

Originally Posted by Meck77

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.

Hey you finally got one right. Well almost the best commodity to buy today is heirloom seeds packed for 10 years life span. and this product.

http://www.youtube.com/watch?v=ptIQ9oD4EYo

[Arkie]

Would you trade in a equal amount of platinum for gold? Gold has been trading higher than platinum occasionally the last couple of weeks.

[Meck77]

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.

[Arkie]

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.

[Meck77]

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

[mhgaffney]

Originally Posted by Meck77

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

Sharp that you picked up on this.

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

[Arkie]

Originally Posted by Rohirrim

Billionaire financier George Soros, who called gold "the ultimate bubble," dumped almost his entire $800 million stake in bullion in the first quarter, well before a commodities slump blamed partly on reports he was liquidating his holdings.

Famed gold bull John Paulson held his ground, but Soros was joined in the retreat by several other big names, including Eric Mindich and Paul Touradji, according to 13-F filings with the U.S. Securities and Exchange Commission that provide the best insight into where hedge funds are placing their bets.
http://www.huffingtonpost.com/2011/0..._n_863083.html

Media BS. Soros could have had over a billion in bullion today. Gold has gone up $400/oz in the 3 months since he dumped it in May. That could have quickly been $215 million dollar mistake, but they didn't mention he used the proceeds to buy gold mining stocks.

[baja]

Originally Posted by Arkie

Media BS. Soros could have had over a billion in bullion today. Gold has gone up $400/oz in the 3 months since he dumped it in May. That could have quickly been $215 million dollar mistake, but they didn't mention he used the proceeds to buy gold mining stocks.

It's fast approaching time to trade your gold for silver.

[TheDave]

Gold and Silver Slaughter Resumes Once More, With Feeling...

[Tombstone RJ]

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...

[TheDave]

Originally Posted by Tombstone RJ

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...

Some of you watched Mad Max way too much growing up...

[Arkie]

Originally Posted by Meck77

A little perspective on the price of gold.



Uploaded with ImageShack.us

Quoting this to put gold back in perspective. Meck posted this last month at the debt deadline before gold shot up another $200 past $1900. Of course it's going to correct to the red line. That's a buying opportunity for good investors.

[Tombstone RJ]

Originally Posted by TheDave

Some of you watched Mad Max way too much growing up...

They didn't farm in mad max!!

[TheDave]

Originally Posted by Tombstone RJ

They didn't farm in mad max!!

True... was it water world?

No, doubt they did any farming either... Well whatever post apocalyptic farming based movie i was thinking of.

[Tombstone RJ]

Personally, I'm looking forward to going back to an agrarian(sp?) society. Don't fight it people!

[cutthemdown]

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!

[mhgaffney]

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

[ghwk]

Originally Posted by Tombstone RJ

Personally, I'm looking forward to going back to an agrarian(sp?) society. Don't fight it people!

I just put artificial grass in my backyard, I couldn't grow a dandelion back there! I'm Fu@@ed!

[Meck77]

Originally Posted by mhgaffney

How to explain the present drop? Good question -

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.

[mhgaffney]

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.

[baja]

Originally Posted by mhgaffney

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.

The globalists are changing the margins forcing the speculators out of the market in a last ditch effort to hold down the price of gold and prop up their worthless paper money yet gold is now going back up. Major shiit is about to happen.

[baja]

Originally Posted by mhgaffney

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.

We will see $5000 an ounce gold before this is all over.

It's really better to spend your assets on storable food now.