mccw Posted May 21, 2013 Share Posted May 21, 2013 Silver dropped in one hit down 9% at open yesterday and then rebounded all the way to close up. Funny business going on. Link to comment Share on other sites More sharing options...
Naam Posted May 21, 2013 Share Posted May 21, 2013 doing Churchill's job... When the Rothchild’s HKMEx was launched in 2011, much of the metals community assumed that the COMEX & LBMA, were they not to outright default, would fade into irrelevance with the advent of the new Asian metals exchange. Two years to the day after the exchange’s launch however, in perhaps the most glaring evidence of physical gold & silver shortage to date, the HKMEx has announced it will voluntarily cease trading, and all open positions will be closed out and financially (cash) settled on Monday 5/20! Link to comment Share on other sites More sharing options...
mccw Posted May 21, 2013 Share Posted May 21, 2013 Wow Link to comment Share on other sites More sharing options...
mccw Posted May 21, 2013 Share Posted May 21, 2013 Is there publicly available data on demand at the asian exchange? One could speculate that there was much higher physical demand that the western ones and this is what has lead to its inability to meet all commitments. Link to comment Share on other sites More sharing options...
yoshiwara Posted May 22, 2013 Share Posted May 22, 2013 (edited) Is there publicly available data on demand at the asian exchange? One could speculate that there was much higher physical demand that the western ones and this is what has lead to its inability to meet all commitments.One could equally speculate that Naam's interplanetary galactic visitors used the HKMEx toilets and the resulting overflow of nuclear toxic waste caused the exchange breakdown. Edited May 22, 2013 by yoshiwara Link to comment Share on other sites More sharing options...
Naam Posted May 22, 2013 Share Posted May 22, 2013 Is there publicly available data on demand at the asian exchange? One could speculate that there was much higher physical demand that the western ones and this is what has lead to its inability to meet all commitments. just the opposite. business extremely down. latest reports mention a few hundred contracts to be settled. Link to comment Share on other sites More sharing options...
midas Posted May 22, 2013 Share Posted May 22, 2013 Link to comment Share on other sites More sharing options...
yoshiwara Posted May 22, 2013 Share Posted May 22, 2013 Ok - Articles like these are part of the reason I dumped my gold last week. The goldbugs are out in force (or should I say sat in their bunkers, with shotgun, bottled water and a pile of gold bars). But outside of the sky is falling crowd there doesn't seem to be much support for gold. The $ appreciation has blind-sided gold. Without the $ driver gold is being sucked under by the great commodity de-leveraging. Seasonal demand is marked down (Joe Public in India, China) due to recession. A surprise there would strengthen price. Next years impending major bankruptcies also could spike Gold up. So the direction is down.Heh, <starts dancing around with flowers in the hair>. Well I'm out of the bunker now But seriously I can't wait for gold to come on down! Drop baby drop, I bought 1 oz of gold for the helluv it and can't wait to grab some more. Cause you know what? It's all part of the cycle, you just gotta time it right What goes down, must go up Except that those who bought gold in 1980 had to endure over 25 years of having their wealth systematically shredded in real terms, not to mention maybe having the misfortune of kicking the bucket in the long long interim. Once you realise that gold is not insurance and just a trade you step outside of the fantasies. Those who have lost $200 per oz in days recently now have a taste of the metal's essential volatility. Link to comment Share on other sites More sharing options...
cheeryble Posted May 22, 2013 Share Posted May 22, 2013 Those who have lost $200 per oz in days recently now have a taste of the metal's essential volatility Which some of us clearly and specifically spelled out and warned about and are still waiting for warm thanks :-) Link to comment Share on other sites More sharing options...
yoshiwara Posted May 22, 2013 Share Posted May 22, 2013 Those who have lost $200 per oz in days recently now have a taste of the metal's essential volatilityWhich some of us clearly and specifically spelled out and warned about and are still waiting for warm thanks :-)The trouble is that the stupid gold bugs recommend buying at all prices without exception, when it is going up and when it is going down. When they say buy now at 1380, they forget that they were saying buy at the higher prices also. Link to comment Share on other sites More sharing options...
Naam Posted May 22, 2013 Share Posted May 22, 2013 Those who have lost $200 per oz in days recently now have a taste of the metal's essential volatility Which some of us clearly and specifically spelled out and warned about and are still waiting for warm thanks :-) with gold you can never lose! 12000 years ago a caveman had to shell out an ounce of gold for a bear fur tuxedo and today an ounce of gold buys a tailor made suit (not in Savile Row). summary: gold preserves wealth! Link to comment Share on other sites More sharing options...
yoshiwara Posted May 22, 2013 Share Posted May 22, 2013 Those who have lost $200 per oz in days recently now have a taste of the metal's essential volatilityWhich some of us clearly and specifically spelled out and warned about and are still waiting for warm thanks :-)with gold you can never lose! 12000 years ago a caveman had to shell out an ounce of gold for a bear fur tuxedo and today an ounce of gold buys a tailor made suit (not in Savile Row). summary: gold preserves wealth! Yes the guys who witter on about gold buying a Savile Row suit are extremely out of touch. However a few shirts from Jermyn street and some Trumpers shaving gear could just about be managed. Link to comment Share on other sites More sharing options...
midas Posted May 22, 2013 Share Posted May 22, 2013 (edited) Ok - Articles like these are part of the reason I dumped my gold last week. The goldbugs are out in force (or should I say sat in their bunkers, with shotgun, bottled water and a pile of gold bars). But outside of the sky is falling crowd there doesn't seem to be much support for gold. The $ appreciation has blind-sided gold. Without the $ driver gold is being sucked under by the great commodity de-leveraging. Seasonal demand is marked down (Joe Public in India, China) due to recession. A surprise there would strengthen price. Next years impending major bankruptcies also could spike Gold up. So the direction is down.Heh, <starts dancing around with flowers in the hair>. Well I'm out of the bunker now But seriously I can't wait for gold to come on down! Drop baby drop, I bought 1 oz of gold for the helluv it and can't wait to grab some more. Cause you know what? It's all part of the cycle, you just gotta time it right What goes down, must go up Except that those who bought gold in 1980 had to endure over 25 years of having their wealth systematically shredded in real terms, not to mention maybe having the misfortune of kicking the bucket in the long long interim. Once you realise that gold is not insurance and just a trade you step outside of the fantasies. Those who have lost $200 per oz in days recently now have a taste of the metal's essential volatility. " you step outside of the fantasies " talking about fantasies............... Courtesy of the new Daily Treasury Statement we now know that the new and improved debt target ceiling, at which the US immediately finds itself is: $16,699,421,095,673.60. http://blogs.wsj.com/economics/2013/05/17/u-s-to-hit-debt-ceiling-but-has-some-breathing-room/ Edited May 22, 2013 by midas Link to comment Share on other sites More sharing options...
farang000999 Posted May 23, 2013 Share Posted May 23, 2013 gold bugs are delusional. keep saying "but all this supposed growth is fake and interest rates will go up and it is all gonna crash"... yet apparently in another 08' crash gold is not going to go down again .... because ????????? Link to comment Share on other sites More sharing options...
givenall Posted May 23, 2013 Share Posted May 23, 2013 This is not an article. It is a book Sent from my ST18a using Thaivisa Connect Thailand mobile app Link to comment Share on other sites More sharing options...
midas Posted May 23, 2013 Share Posted May 23, 2013 gold bugs are delusional. keep saying "but all this supposed growth is fake and interest rates will go up and it is all gonna crash"... yet apparently in another 08' crash gold is not going to go down again .... because ????????? I'm just curious. When you use the word “ gold bugs “ do you include Chinese and Indians in that definition? Link to comment Share on other sites More sharing options...
Naam Posted May 23, 2013 Share Posted May 23, 2013 (edited) gold bullsh*tter skyrocketing: First, we see that the premiums on physical precious metals have never been this high. On top of that, the gold premiums in Shanghai compared to London are skyrocketing. http://seekingalpha.com/article/1450461-the-great-disconnect-between-paper-and-physical-precious-metals-prices?source=email_macro_view&ifp=0 Edited May 23, 2013 by Naam Link to comment Share on other sites More sharing options...
farang000999 Posted May 23, 2013 Share Posted May 23, 2013 gold bugs are delusional. keep saying "but all this supposed growth is fake and interest rates will go up and it is all gonna crash"... yet apparently in another 08' crash gold is not going to go down again .... because ????????? I'm just curious. When you use the word “ gold bugs “ do you include Chinese and Indians in that definition? no they are buying gold the same way they buy LV bags or Iphones. I am talking about the moron farang here who think the world is ending and hyperinflation is looming and that GOLD IS MONEY yata yata yata. Link to comment Share on other sites More sharing options...
midas Posted May 24, 2013 Share Posted May 24, 2013 (edited) gold bugs are delusional. keep saying "but all this supposed growth is fake and interest rates will go up and it is all gonna crash"... yet apparently in another 08' crash gold is not going to go down again .... because ????????? I'm just curious. When you use the word “ gold bugs “ do you include Chinese and Indians in that definition? no they are buying gold the same way they buy LV bags or Iphones. I am talking about the moron farang here who think the world is ending and hyperinflation is looming and that GOLD IS MONEY yata yata yata. Hang on a minute? If China and India are buying oil with gold how else can you describe it other than the fact that it is being used as money? http://rt.com/news/iran-india-gold-oil-543/ Edited May 24, 2013 by midas Link to comment Share on other sites More sharing options...
farang000999 Posted May 24, 2013 Share Posted May 24, 2013 (edited) How does that make gold money? Anything can be traded or bartered. So everything is money now? Edited May 24, 2013 by farang000999 Link to comment Share on other sites More sharing options...
Jayman Posted May 24, 2013 Share Posted May 24, 2013 How does that make gold money? Anything can be traded or bartered. So everything is money now? guess you need to tell us your definition of money then if you expect a valid answer to your question. Link to comment Share on other sites More sharing options...
mania Posted May 24, 2013 Share Posted May 24, 2013 (edited) How does that make gold money? Anything can be traded or bartered. So everything is money now? No I think you have Money & Currency confused. Gold has always been money Fiat paper is a currency/coin of a realm creation that is used as money Edited May 24, 2013 by mania Link to comment Share on other sites More sharing options...
PCA Posted May 24, 2013 Share Posted May 24, 2013 How does that make gold money? Anything can be traded or bartered. So everything is money now? No I think you have Money & Currency confused. Gold has always been money Fiat paper is a currency/coin of a realm creation that is used as money I'd say you got it even more confused. Gold was never money and also never will. Link to comment Share on other sites More sharing options...
mania Posted May 24, 2013 Share Posted May 24, 2013 (edited) How does that make gold money? Anything can be traded or bartered. So everything is money now? No I think you have Money & Currency confused. Gold has always been money Fiat paper is a currency/coin of a realm creation that is used as money I'd say you got it even more confused. Gold was never money and also never will. You are not one for historical facts I guess Edited May 24, 2013 by mania Link to comment Share on other sites More sharing options...
midas Posted May 24, 2013 Share Posted May 24, 2013 How does that make gold money? Anything can be traded or bartered. So everything is money now?No I think you have Money & Currency confused. Gold has always been money Fiat paper is a currency/coin of a realm creation that is used as money I'd say you got it even more confused. Gold was never money and also never will.Ron Paul - If Gold Isn't Money, Why Are Central Banks Buying It Up ? http://goldsilver.com/news/ron-paul-if-gold-isn-t-money-why-are-central-banks-buying-it-up/ Link to comment Share on other sites More sharing options...
farang000999 Posted May 24, 2013 Share Posted May 24, 2013 Yes, China has almost 2% of it's reserves in gold and the rest in worthless fiat! Link to comment Share on other sites More sharing options...
PCA Posted May 24, 2013 Share Posted May 24, 2013 How does that make gold money? Anything can be traded or bartered. So everything is money now? No I think you have Money & Currency confused. Gold has always been money Fiat paper is a currency/coin of a realm creation that is used as money I'd say you got it even more confused. Gold was never money and also never will. You are not one for historical facts I guess Guess further if you like, History and fact in one sentence is already topic enough to keep you busy forever. Link to comment Share on other sites More sharing options...
mania Posted May 24, 2013 Share Posted May 24, 2013 (edited) Guess further if you like, History and fact in one sentence is already topic enough to keep you busy forever.And yet no substance? Why don't you go ahead & tell the class the average lifespan of any fiat or the longest any single fiat currency ever survived? You have reminded me why I stopped reading this forum Thanks Edited May 24, 2013 by mania Link to comment Share on other sites More sharing options...
Naam Posted May 24, 2013 Share Posted May 24, 2013 Yes, China has almost 2% of it's reserves in gold and the rest in worthless fiat! -the Swiss and the Brits have sold most of their gold. -the two countries with the highest percentage of gold in its reserves (Portugal 90%, Greece 82%) are bankrupt -the second biggest gold producing country Australia holds 9% of its reserves in gold. -the country that pumps daily crude oil valued 800 million dollars, Saudi Arabia, holds 3% of its reserves in gold. Link to comment Share on other sites More sharing options...
PCA Posted May 24, 2013 Share Posted May 24, 2013 Guess further if you like, History and fact in one sentence is already topic enough to keep you busy forever.And yet no substance?Why don't you go ahead & tell the class the average lifespan of any fiat or the longest any single fiat currency ever survived? You have reminded me why I stopped reading this forum Thanks lol - gotta ask yourself, why did you come back? Link to comment Share on other sites More sharing options...
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