Gold, lost its Glister?

padington

merlingrey wrote: »

Until the bond market explodes, low interest rates are a superglue to a house of cards, once that's gone it'll only take a gust of wind to take it all down.

We should be worried, i gain no satisfaction from it, i'd rather be in a booming stock market and non-recession economy but you have to play the hand you are dealt and hedge against this sort of thing.

Also don't forget about the bitcoin. When hell breaks loose and you need things which your government is trying to refuse you, bitcoins are going to become increasingly very very handy. On the other hand, when governments resort to using their gold reserves to pay for food, things could get scary for gold.

merlingrey

padington wrote: »

Also don't forget about the bitcoin. When hell breaks loose and you need things which your government is trying to refuse you, bitcoins are going to become increasingly very very handy. On the other hand, when governments resort to using their gold reserves to pay for food, things could get scary for gold.

I don't really like bitcoin, but from a business and speculative future point of view i do like the exchanges, they top slice money from all the transactions, it's like a casino: who would you rather be the player or the casino?

Today mtgox is the sort of outfit that if listed would be on the AIM, and if it goes the way people think it could go it would end up on the FTSE 100.

Unfortunately they are not a listed company here or anywhere and probably never will be.

Glen_Clark

DiggerUK wrote: »

there is no way to unwind the QE debasement in my opinion.
Only possible way for it to unwind

Isn't there a contradiction somewhere?

[Deleted User]

merlingrey wrote: »

Picked up 3 sovs @ £225 each earlier

Hi merlingrey - just wondering - it wasn't clear to me from what you said if you had bought the sovs yesterday for 225, or if "earlier" meant at some time in the past. Which did you mean? Also, if you don't mind me asking, who do you buy them from? Some time ago I was looking at Bullionbypost, but I think the lowest price for 10 2013 sovs I saw yesterday was 233 each.

(BTW that website shows the 2012 out of stock.)

WR

sabretoothtigger

Glen_Clark wrote: »

Isn't there a contradiction somewhere?

unwind, snap. explode implode. whatever :eek:

DiggerUK

merlingrey wrote: »

The FED has a special client account with the banks to sell naked shorts, or so i hear anyway: http://www.paulcraigroberts.org/

Never mind what you hear, go and check the facts. Then you would discover that The Federal Reserve doesn't own any gold.

The link you give then claims that this is all based on circumstantial evidence anyway.
" People ask me how I know that the Fed is rigging the bullion price and seem surprised that anyone would think the Fed and its bullion bank agents would do such a thing, despite the public knowledge that the Fed is rigging the bond market and the banks with the Fed’s knowledge rigged the Libor rate. The answer is that the circumstantial evidence is powerful."

No, the price is dropping, because people are selling. But why are they selling?
..._

Ark_Welder

DiggerUK wrote: »

Never mind what you hear, go and check the facts. Then you would discover that The Federal Reserve doesn't own any gold.

The link you give then claims that this is all based on circumstantial evidence anyway.
" People ask me how I know that the Fed is rigging the bullion price and seem surprised that anyone would think the Fed and its bullion bank agents would do such a thing, despite the public knowledge that the Fed is rigging the bond market and the banks with the Fed’s knowledge rigged the Libor rate. The answer is that the circumstantial evidence is powerful."

No, the price is dropping, because people are selling. But why are they selling?
..._

Some of the recent articles from the FT are listed here: http://www.ft.com/in-depth/gold-prices

If you don't have an account then google each headline in turn and click on the resulting link to the FT to follow.


+++

Another example of the tripe contained in the PCR article can be found here: http://www.bundesbank.de/Redaktion/EN/Pressemitteilungen/BBK/2013/2013_01_16_storage_plan_gold_reserve.html

Ark_Welder

markwilkinson wrote: »

Odd comment really. Well for my intelligence anyway (that's an admission, not an excuse for derision, which I imagine will happen anyway).

No worries. Just think along the lines of MC Rothschild vs. The Israelites. Hope that clears things up.

[Deleted User]

While I acknowledge that it could be hype, one of the websites that sells sovereigns has introduced a £500 minimum order value and withdrawn its next day delivery saying instead that orders will be dispatched within a week - all due to "record orders".

(I still haven't bought any - price at time of this post for bullion sovs (not specific dates) is £244 each, £237 each for 10)

Oh for a crystal ball....:D

WR

DiggerUK

Ark Welder...Paulson seems to be one of the major holdouts against selling according to this from Bloomberg. But he has a more ideological support for gold. Most hedgies and institutions are rumoured to be selling heavily.....but why did it start.

Wild Rover.... Hatton Garden are at 219 +p&p

Just checked, it's 3p up on yesterday's close :dance:
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