Where Is Gold Going In This Market

[midas]

Today's 1750s look close enough to me to reduce exposure a bit and book a few profits, given all the uncertainties at the moment.

Still targeting 1,800 for gold, but don't want to get too greedy, and happy to take some risk off while the Europeans are playing their own musical chairs. (Or should I say musical Russian Roulette)

No apologies to gold bugs for being a heathen and having used ETFs and leveraged ETCs to play musical chairs. I'm getting a little old to carry gold to the shop and back.

Silver still aiming for 37-40.

so after you " book a few profits " , what do you do then? where do you put your gains ?

In even more paper or digitised numbers?

Seeing as these particular holdings were for short term trading, yes pretty much so.

So yes. Mainly digits and paper on this occasion.

A Warning From Santa

" Without faith in the clearing house system where is faith that what your account statement says means anything whatsoever?

Unless MF clients are made whole in every way, the system is broken. It is as if the heads blew off the engine of finance. Where can you keep your money and investments if a clearinghouse is allowed for whatever reason to go broke, therein leaving the clients to suffer? "

http://www.tfmetalsreport.com/blog/3081/warning-santa

[fletchsmile]

Today's 1750s look close enough to me to reduce exposure a bit and book a few profits, given all the uncertainties at the moment.

Still targeting 1,800 for gold, but don't want to get too greedy, and happy to take some risk off while the Europeans are playing their own musical chairs. (Or should I say musical Russian Roulette)

No apologies to gold bugs for being a heathen and having used ETFs and leveraged ETCs to play musical chairs. I'm getting a little old to carry gold to the shop and back.

Silver still aiming for 37-40.

so after you " book a few profits " , what do you do then? where do you put your gains ?

In even more paper or digitised numbers?

Seeing as these particular holdings were for short term trading, yes pretty much so.

So yes. Mainly digits and paper on this occasion.

A Warning From Santa

" Without faith in the clearing house system where is faith that what your account statement says means anything whatsoever?

Unless MF clients are made whole in every way, the system is broken. It is as if the heads blew off the engine of finance. Where can you keep your money and investments if a clearinghouse is allowed for whatever reason to go broke, therein leaving the clients to suffer? "

http://www.tfmetalsreport.com/blog/3081/warning-santa

Bottom line. Stay away from the US banking and financial system in particular. Do not confuse the problems of the west and the US in particular with being global problems. The US is not the world. That is a common misconception of US people who can't see beyond their own country or even their own nose.

The US system is broken as you say. That does not mean the global system is broken.

As for my comments on gold. Was I right or was I right? One month later and gold has gone nowhere as I said. Meanwhile I've been making money and trading profits elsewhere.

The biggest problem for people from the US is they think that is the same for the rest of the world. It isn't. Wise up. the US time is past

[mccw]

I have blacklisted Guernsey ever since those tossers hung all the Landsbanki-Guernsey customers out to dry. They were keen enough to allow the bank to open up but did absolutely nothing to help the depositors, as far as I know the only depositors who have lost money in this mess.

correct!

by the way, i wouldn't trust any of the Channel Islands in case of a major financial meltdown. no substance in relation to what is stored there. if "island" then islands with substance, i.e. Hong Kong and Singapore.

I'm talking to collect tax free bullion.

(I don't trust any bank in any country to honour the numbers on screen) property, bullion, rice and other food stuffs are my investments of choice, +keep weapons and other useful things, all where I can see them.

Next 1-3 or 5 years cwill be serious; every way I see it- it's the difference between total meltdown to prolonged depression- either way personally I'm well positioned to be comfortable - making decent money.

Too many people can't comprehend the possibility of a point of break down of supply chains; paper currency becoming meaningless for a time and all the consequences of such things. I try to advise friends that at the very least they should be keeping a couple months food supplies at all times- but most just scoff at such suggestions as if a recession is the limit of possibility!

[midas]

Bottom line. Stay away from the US banking and financial system in particular. Do not confuse the problems of the west and the US in particular with being global problems. The US is not the world. That is a common misconception of US people who can't see beyond their own country or even their own nose.

The US system is broken as you say. That does not mean the global system is broken.

As for my comments on gold. Was I right or was I right? One month later and gold has gone nowhere as I said. Meanwhile I've been making money and trading profits elsewhere.

The biggest problem for people from the US is they think that is the same for the rest of the world. It isn't. Wise up. the US time is past

Well what have you got left ? Europe isn't looking too hot, the likes of Gordon Chang who visits China regularly

and himself obviously Chinese is telling us of some very revealing warning signs in his latest book so what does that leave?

You've got Africa hardly a powerhouse, South America and Russia. I hardly think these are going to provide an environment

of robust growth to support the entire world population?

Edited December 4, 2011 by midas

[Naam]

I'm talking to collect tax free bullion.

and take it by what means unfettered where? on your yacht to your private island?

[midas]

. Do not confuse the problems of the west and the US in particular with being global problems. The US is not the world. That is a common misconception of US people who can't see beyond their own country or even their own nose.

You are incorrect because there is a global debt problem and until that is resolved there will be no recovery

[churchill]

Kyle Bass describes his visit to the Comex here at 42 mins.

[Naam]

Kyle Bass...

...says war around the corner.

[lannarebirth]

Bottom line. Stay away from the US banking and financial system in particular. Do not confuse the problems of the west and the US in particular with being global problems. The US is not the world. That is a common misconception of US people who can't see beyond their own country or even their own nose.

The US system is broken as you say. That does not mean the global system is broken.

As for my comments on gold. Was I right or was I right? One month later and gold has gone nowhere as I said. Meanwhile I've been making money and trading profits elsewhere.

The biggest problem for people from the US is they think that is the same for the rest of the world. It isn't. Wise up. the US time is past

Well what have you got left ? Europe isn't looking too hot, the likes of Gordon Chang who visits China regularly

and himself obviously Chinese is telling us of some very revealing warning signs in his latest book so what does that leave?

You've got Africa hardly a powerhouse, South America and Russia. I hardly think these are going to provide an environment

of robust growth to support the entire world population?

I read Gordon Chang's book "The Coming Collapse of China" about 10 years ago. He made some very interesting, and I thought at the time, valid points. He was wrong about nearly all of them. Eventually he will get something right.

[Naam]

Well what have you got left ? Europe isn't looking too hot, the likes of Gordon Chang who visits China regularly and himself obviously Chinese is telling us of some very revealing warning signs in his latest book so what does that leave?

You've got Africa hardly a powerhouse, South America and Russia. I hardly think these are going to provide an environment

of robust growth to support the entire world population?

Chang's latest book on China was published TEN years and four months ago in which he predicted the collapse of China by 2006. looking at China's achievement since 2006 an indepent jury's verdict on his prophecies would be

the same applies most probably to his book "Nuclear Showdown" that deals with North Korea and the Greatest Nation on Earth™.

[midas]

Well what have you got left ? Europe isn't looking too hot, the likes of Gordon Chang who visits China regularly and himself obviously Chinese is telling us of some very revealing warning signs in his latest book so what does that leave?

You've got Africa hardly a powerhouse, South America and Russia. I hardly think these are going to provide an environment

of robust growth to support the entire world population?

Chang's latest book on China was published TEN years and four months ago in which he predicted the collapse of China by 2006. looking at China's achievement since 2006 an indepent jury's verdict on his prophecies would be

the same applies most probably to his book "Nuclear Showdown" that deals with North Korea and the Greatest Nation on Earth™.

that depends on whether you judge building tens of empty cities all over the country as being an " achievement "

or building so many condominiums that they now have to slash their prices by 30% ,

or whether the society that is so preoccupied with consumerism ends up with people who see a very young girl lying in the street obviously injured and simply walk around her and ignore her ? If that is achievement then

perhaps you could be right?

[midas]

Bottom line. Stay away from the US banking and financial system in particular. Do not confuse the problems of the west and the US in particular with being global problems. The US is not the world. That is a common misconception of US people who can't see beyond their own country or even their own nose.

The US system is broken as you say. That does not mean the global system is broken.

As for my comments on gold. Was I right or was I right? One month later and gold has gone nowhere as I said. Meanwhile I've been making money and trading profits elsewhere.

The biggest problem for people from the US is they think that is the same for the rest of the world. It isn't. Wise up. the US time is past

Well what have you got left ? Europe isn't looking too hot, the likes of Gordon Chang who visits China regularly

and himself obviously Chinese is telling us of some very revealing warning signs in his latest book so what does that leave?

You've got Africa hardly a powerhouse, South America and Russia. I hardly think these are going to provide an environment

of robust growth to support the entire world population?

I read Gordon Chang's book "The Coming Collapse of China" about 10 years ago. He made some very interesting, and I thought at the time, valid points. He was wrong about nearly all of them. Eventually he will get something right.

He might have been wrong about them then because he simply predicted them too early? look at how many people

who participated in this thread who said there was not even a financial crisis or that it was over?

In his latest interview with Chris Marterson I bet he reveals things that few people know about

especially his comments about the Chinese ruling class are buying up homes in Long Island, New York ready to exit stage left ?

Edited December 4, 2011 by midas

[midas]

I read Gordon Chang's book "The Coming Collapse of China" about 10 years ago. He made some very interesting, and I thought at the time, valid points. He was wrong about nearly all of them. Eventually he will get something right.

I wonder if the predictions of respected Hong Kong economist, Ms. Wang Tao of UBS will be more accurate?

China may soon become the problem

http://www.goldsilvermashup.com/zero-hedge/sol-sanders-follow-the-money-no-95-china-may-soon-become-the-problem/

[Naam]

I read Gordon Chang's book "The Coming Collapse of China" about 10 years ago. He made some very interesting, and I thought at the time, valid points. He was wrong about nearly all of them. Eventually he will get something right.

I wonder if the predictions of respected Hong Kong economist, Ms. Wang Tao of UBS will be more accurate?

China may soon become the problem

http://www.goldsilvermashup.com/zero-hedge/sol-sanders-follow-the-money-no-95-china-may-soon-become-the-problem/

this is what Ms Wang (UBS) said:

One respected Hong Kong economist, Ms. Wang Tao of UBS, is predicting a gross domestic growth [GDP] rate toward 7% before yearend.

and this is what Mr Solomon Sanders (gold & silver mashup fiat doom and gloom) said:

That’s below the red line 8% long considered by the double-domes as the minimum to satisfy jobs for China’s growing population.

is it really necessary to point out that the politicians of any country, even those with a much higher birth rate than China, would jump with joy if their country would achieve half of China's growth rate?

plaintiff Midas' case of Ms Wang and Mr Solomon as frivolous dismissed.

Bailiff... next case!

[Naam]

that depends on whether you judge building tens of empty cities all over the country as being an " achievement "

or building so many condominiums that they now have to slash their prices by 30% ,

or whether the society that is so preoccupied with consumerism ends up with people who see a very young girl lying in the street obviously injured and simply walk around her and ignore her ? If that is achievement then

perhaps you could be right?

-building empty cities is as much an achievement as building cities which are occupied.

-slashing prices by 30% after being overpriced by 100% is another achievement benefitting future occupants be they landlords or tenants.

-injured, starving, dying and ignored young (and old) girls and boys can be found in dozens of other countries too.

case as not relevant to "China's collapse" dismissed.

[Naam]

In his latest interview with Chris Marterson I bet he reveals things that few people know about especially his comments about the Chinese ruling class are buying up homes in Long Island, New York ready to exit stage left ?

there is nothing to "reveal". it is a well known fact, known to many people, that since several decades wealthy HK Chinese and since a decade mainland Chinese are buying offshore real estate to diversify their holdings by acquiring tangible assets.

that does not only apply to Chinese but to high net worth individuals from many countries for obvious reasons. wealthy individuals own already rice fields, all the physical gold they can handle, antique collectibles and works of arts.

it would be ridiculous to blame e.g. a swiss resident HNI he thinks of an "exit" when spending tens of millions for private residences in London, Paris, Monaco or New York.

[midas]

I wonder if the predictions of respected Hong Kong economist, Ms. Wang Tao of UBS will be more accurate?

China may soon become the problem

http://www.goldsilvermashup.com/zero-hedge/sol-sanders-follow-the-money-no-95-china-may-soon-become-the-problem/

this is what Ms Wang (UBS) said:

One respected Hong Kong economist, Ms. Wang Tao of UBS, is predicting a gross domestic growth [GDP] rate toward 7% before yearend.

and this is what Mr Solomon Sanders (gold & silver mashup fiat doom and gloom) said:

That’s below the red line 8% long considered by the double-domes as the minimum to satisfy jobs for China’s growing population.

is it really necessary to point out that the politicians of any country, even those with a much higher birth rate than China, would jump with joy if their country would achieve half of China's growth rate?

plaintiff Midas' case of Ms Wang and Mr Solomon as frivolous dismissed.

Bailiff... next case!

I am going to seek leave to appeal.......

[churchill]

But where is Gold ...

The decline of “safe” assets

http://ftalphaville.ft.com/blog/2011/12/05/778301/the-decline-of-safe-assets/?utm_source=dlvr.it&utm_medium=twitter

[fletchsmile]

. Do not confuse the problems of the west and the US in particular with being global problems. The US is not the world. That is a common misconception of US people who can't see beyond their own country or even their own nose.

You are incorrect because there is a global debt problem and until that is resolved there will be no recovery

So here we are in South East Asia. Which Thai, Malaysian, Singapore, Indonesia banks etc are you saying have global debt problems?

[fletchsmile]

Bottom line. Stay away from the US banking and financial system in particular. Do not confuse the problems of the west and the US in particular with being global problems. The US is not the world. That is a common misconception of US people who can't see beyond their own country or even their own nose.

The US system is broken as you say. That does not mean the global system is broken.

As for my comments on gold. Was I right or was I right? One month later and gold has gone nowhere as I said. Meanwhile I've been making money and trading profits elsewhere.

The biggest problem for people from the US is they think that is the same for the rest of the world. It isn't. Wise up. the US time is past

Well what have you got left ? Europe isn't looking too hot, ...

You've got Africa hardly a powerhouse, South America and Russia. I hardly think these are going to provide an environment

of robust growth to support the entire world population?

Sorry if it comes as a surprise to you but when I said "problems of the west and US in particular", I was including Europe under west

Think you're missing another big continent too. Give you a tip... Many people on Thai Visa live there

Do your research and you'll find various countries of interest to add to your list. Some not too far from home either

[Naam]

Think you're missing another big continent too. Give you a tip... Many people on Thai Visa live there

Antarctica?

[fritter1970]

Naam did not increase his gold holdings and neither did Mrs Naam

My name Naam. I talk like baby. Wife name Mrs Naam. I also call wife Mummy because Naam Mummy's boy.

[Naam]

Standard Bank anals (yesterday):

Precious metals

Weakness has begun to creep into markets once again as the mood once again has swung towards a focus on Europe. Despite gold edging lower, significant physical demand remains largely absent. However, as we’ve seen in the past, this buying usually emerges below the $1,650 level, which should then limit further downside.

With so much of the market sentiment depending on the European Summit on Friday, we expect demand to remain lacklustre. Nevertheless, we would view any downside in gold as a buying opportunity, given our long-term view that the metal will push higher in 2012.

Gold support is at $1,715 and $1,683. Resistance is $1,765 and $1,782. Silver support is at $31.89 and $30.64, resistance is at $33.67 and $34.19.

[Naam]

. Do not confuse the problems of the west and the US in particular with being global problems. The US is not the world. That is a common misconception of US people who can't see beyond their own country or even their own nose.

You are incorrect because there is a global debt problem and until that is resolved there will be no recovery

Midas, notwithstanding the fact that a global debt problem does indeed exist i would like to hear your definition of "recovery".

[midas]

. Do not confuse the problems of the west and the US in particular with being global problems. The US is not the world. That is a common misconception of US people who can't see beyond their own country or even their own nose.

You are incorrect because there is a global debt problem and until that is resolved there will be no recovery

Midas, notwithstanding the fact that a global debt problem does indeed exist i would like to hear your definition of "recovery".

that is very easy to answer because I share the views of Steve Keen recently interviewed on BBC Hard Talk

( not because he happens to be an Australian also ) but because I believe he explains the root of the problem and the only way that there can be a meaningful recovery so clearly. I know you don't like watching YewTube but I don't see the point of me paraphrasing a Professor of Economics when he has already answered the question you have asked me in this interview?

Edited December 6, 2011 by midas

[Naam]

I believe he explains the root of the problem and the only way that there can be a meaningful recovery so clearly. I know you don't like watching YewTube

i promise to watch YewToob if you tell me that in this clip "meaningful recovery" is defined and explained. but i'm not interested in any additional explanation, besides the 739 explanations i have already read, of the "root of the problem".

waiting patiently...

[midas]

I believe he explains the root of the problem and the only way that there can be a meaningful recovery so clearly. I know you don't like watching YewTube

i promise to watch YewToob if you tell me that in this clip "meaningful recovery" is defined and explained. but i'm not interested in any additional explanation, besides the 739 explanations i have already read, of the "root of the problem".

waiting patiently...

if you're not interested in listening to his articulate explanation what he is saying basically is

there cannot be a recovery until we end the Ponzi scheme of the last 40 years and the banks should only be allowed to

lend money for the purposes of genuine production rather than only artificially fuelling increases

in asset prices. And for the 740 th time there cannot be a " meaningful recovery "

until they stop kicking the can down the road

Edited December 6, 2011 by midas

[Naam]

there cannot be a "meaningful recovery"

what part of my simple demand "please define/explain meaningful recovery" it it you don't understand Midas?

[midas]

there cannot be a "meaningful recovery"

what part of my simple demand "please define/explain meaningful recovery" it it you don't understand Midas?

and I would have thought it would be very plain and simple to you Naam ?

Meaningful recovery to me means an element of genuine growth based on true productivity

instead of gambling no matter how small,as many young people as possible in employment,

and a realistic relationship between earning ability and asset values instead of

creating bubbles.

As Steve Keen says essentially if we don't start all over again we face

a lost 20 years. What is more important? propping up one's share portfolio

or giving the next generation at least a better chance of getting work and

enjoying their lives?

[Naam]

What is more important? propping up one's share portfolio or giving the next generation at least a better chance of getting work and enjoying their lives?

i'd say propping up one's (not necessarily share) portfolio because that possibility exists. giving the next generation a better chance to enjoy their lives without going through a rough time is impossible. they will have to manage and cope with similar problems i had to cope growing up as a poor son of impoverished parents in post-war Germany.

by the way, i don't think it's right what the next one (or more generations) will be facing. being a realist and pragmatic i'm just stating facts.