Where Is Gold Going In This Market

[flying]

Gold is going down with the euro. What a hoot!

As long as gold & other metals have a paper counterpart none should be surprised.

Folks are running from the casino & reducing that which they never really owned.

Meaning many gamblers are heavily leveraged.

[Naam]

Gold is going down with the euro. What a hoot!

As long as gold & other metals have a paper counterpart none should be surprised.

Folks are running from the casino & reducing that which they never really owned.

Meaning many gamblers are heavily leveraged.

but where, pray tell, is the €UR connection?

[cdmtdm]

commodities based currency ?

[Jayman]

has anybody considered, what they will do with the gold they have on hand, when the shit hits the fan ? firstly how many gold holders have physical gold on hand ? i mean in the house ? of those that do are they 1 kg bars or coins or jewels ? if you have gold stocks or part of a fund etc etc how will u get your money when the gold panic run begins ? if we see a currency meltdown and gold is the new currency , how safe will physical gold holders be in reality ? if cash is worthless , how will you pay for things ?, down to the 7 eleven with a kilo of gold or booking an airline ticket with gold ? of course keeping the physical gold at home would be suicide , so where will u store it at the bank lol ? if you own gold and you have made a profit , get out and buy some land you can grow or cultivate to survive .. the dip is coming and its going to be a doozy ... anyone see similarities to the 1930"s?, people are looking for radical change, it will only take one charismatic radical leader as per Adolf and we will another war ... take a look at the amount of civil wars blazing away as we speak , who next ? greece ? spain ?

i sold my gold by the way ... because i am not greedy ....

No one is thinking to go into a 7/11 to buy stuff with gold. The idea is that as paper money loses it's value then you will retain that value in gold. You then go sell your gold for wheel barrels of paper money that you use to make purchases as needed. If you are holding only paper then you will have a problem filing a wheel barrel as paper doesn't multiply in your bank nearly as fast as they are printing it.

Maybe we can agree that paper money is "worth less" today than 5 years ago? I have a feeling it will be even more "worth less" going forward.

You are free to prepare for your future however you see fit.

[Jayman]

i would still like the gold buffs to explain how the system will work if gold becomes the new world currency .....gold is as manipulated as any of the major currencies dont be fooled into holding too long ....

not saying that gold will be the new world currency and don't think anyone here is saying that. But, with paper money being backed by gold there is less chance of over creation of paper from the central banks which is what is making the paper you are holding now even more "worth less" than before they turned the presses on full speed.

[Jayman]

Gold is going down with the euro. What a hoot!

As long as gold & other metals have a paper counterpart none should be surprised.

Folks are running from the casino & reducing that which they never really owned.

Meaning many gamblers are heavily leveraged.

I agree that it is the paper gold market that is really at hand for these moves. It is not real gold and it would be impossible for everyone holding paper gold to turn it to physical gold as it doesn't exist.

Just the same as it would be impossible for everyone to run to the bank and pull out all their paper from the digital banking world. There is NOT enough paper (even with the printing presses running full speed) to cover all the deposits. This event is what the bankers fear will happen if we lose confidence in them. Called a run on the bank and we are starting to see this in greece as we speak.

Incidentally, how many years ago was it that Bangkok Bank had a run on it's banks and depositers had a very hard time getting their funds out with ques around the blocks.

Edited May 16, 2012 by Jayman

[cdmtdm]

and where is all the gold to cover the backing of such currencies ? still in the ground ? it sure will fun when the run comes for the door lol ... gold bubble coming up ?

[Jayman]

and where is all the gold to cover the backing of such currencies ? still in the ground ? it sure will fun when the run comes for the door lol ... gold bubble coming up ?

No the gold is above ground and would require that physical gold get revalued to a much higher level to back all the paper that currently circulates.

And that my friend is why the "gold buffs" are so bullish in the long term.

Edited May 16, 2012 by Jayman

[churchill]

With recent elections in France and Hollande playing a pro growth role ...... surely it is easier , less messy for Germany to give Greece more room .. ie more Q.easing to make sure a pro Euro government is elected in June

more qe good for markets , euro commodities ..

Germany will blink, and won’t let Greece exit euro

http://www.marketwat...euro-2012-05-16

and who wouldn't want to own some PM's in these markets ..

Gold and silver still the best protection against the derivatives blow up that started with JP Morgan’s loss

http://www.silversee...an’s-loss

and Soros has jumped in again ..

as he ..'nearly quadrupled exposure to the SPDR Gold Trust'

http://blogs.barrons...ought-jpmorgan/

Edited May 16, 2012 by churchill

[midas]

i would still like the gold buffs to explain how the system will work if gold becomes the new world currency .....gold is as manipulated as any of the major currencies dont be fooled into holding too long ....

i think that may apply to Japanese Yen as well

this chart showing global sovereign debt as a percentage of total government revenues

in fact as everyone closely follows events in Europe there are some other worrying signs

in Japan

BOJ's JGB Buying Falls Short Of Target For 1st Time

TOKYO (Dow Jones)--The Bank of Japan's offer to buy government bonds from the market as part of an asset-purchase program failed to attract targeted bids for the first time on Wednesday, in an indication of how far the central bank has come in flooding the market with cash as it fights deflation.

http://e.nikkei.com/e/fr/tnks/Nni20120516D16JF775.htm

[cdmtdm]

No the gold is above ground and would require that physical gold get revalued to a much higher level to back all the paper that currently circulates.

serious? enough physical gold already out of the ground to back what currencies ? usd ? eur? Gbp? yen ? wan ? i cannot accept that and what about these gold paper funds ? anyway you cant eat or drink gold so i go back to my original post ... be prepared to be self sufficient , dont walk around with your head up your ar*e and pretend this cannot happen ..its already begun and with far ,far greater consequences than we have ever seen .... what if the world bank or imf collapse ? how many hundreds of millions of people will perish because they rely on this money just to stay alive ....if foreign aid collapses u can forget about trying to close your borders ...then we will have one world ...

[cdmtdm]

i would still like the gold buffs to explain how the system will work if gold becomes the new world currency .....gold is as manipulated as any of the major currencies dont be fooled into holding too long ....

i think that may apply to Japanese Yen as well

this chart showing global sovereign debt as a percentage of total government revenues

in fact as everyone closely follows events in Europe there are some other worrying signs

in Japan

BOJ's JGB Buying Falls Short Of Target For 1st Time

TOKYO (Dow Jones)--The Bank of Japan's offer to buy government bonds from the market as part of an asset-purchase program failed to attract targeted bids for the first time on Wednesday, in an indication of how far the central bank has come in flooding the market with cash as it fights deflation.

http://e.nikkei.com/...516D16JF775.htm

yes and after that what can they do ? scary shit

[Jayman]

http://online.wsj.com/article/SB10001424052702303505504577406310678151998.html?mod=wsj_share_tweet

a Greek cbank official confirms €700m withdrawals is one day, not since May 6

[churchill]

As One JPMorgan Trader Sold Risky Contracts, Another One Bought Them

http://dealbook.nytimes.com/2012/05/15/as-one-jpmorgan-trader-sold-risky-contracts-another-one-bought-them/?src=tp

[Jayman]

As One JPMorgan Trader Sold Risky Contracts, Another One Bought Them

http://dealbook.nyti...ht-them/?src=tp

Seems now JPM has the FBI up their A$$ over all of this.

[Naam]

and where is all the gold to cover the backing of such currencies ? still in the ground ? it sure will fun when the run comes for the door lol ... gold bubble coming up ?

No the gold is above ground and would require that physical gold get revalued to a much higher level to back all the paper that currently circulates.

And that my friend is why the "gold buffs" are so bullish in the long term.

to fully back all existing worthless fiat currency on this planet the estimates for an equivalent gold price are between 45,000 and 68,000 US-Dollars (present value) per ounce.

an that my friends is causing wet dreams and hallucinations of some (but not all) gold lovers. gold is indeed a very powerful drug, even if not ingested.

[Jayman]

and where is all the gold to cover the backing of such currencies ? still in the ground ? it sure will fun when the run comes for the door lol ... gold bubble coming up ?

No the gold is above ground and would require that physical gold get revalued to a much higher level to back all the paper that currently circulates.

And that my friend is why the "gold buffs" are so bullish in the long term.

to fully back all existing worthless fiat currency on this planet the estimates for an equivalent gold price are between 45,000 and 68,000 US-Dollars (present value) per ounce.

an that my friends is causing wet dreams and hallucinations of some (but not all) gold lovers. gold is indeed a very powerful drug, even if not ingested.

A contraction of the current money supply would have to go along with any serious change to the financial system. The M3 expands and contracts in all countries and has for a long time. Why do you discount such important things when you make your over the top attempts to belittle anyone that chooses to think that we are in a long term bull trend. Gold has gone up for the last 11 years. Stop denying and start dealing with the reality.

[Naam]

As One JPMorgan Trader Sold Risky Contracts, Another One Bought Them

http://dealbook.nyti...ht-them/?src=tp

Seems now JPM has the FBI up their A$$ over all of this.

it is a well known fact that bankers are avoiding any losses because they know the FBI, the NSA and the local sheriffs are immediately up their asses should their bank incur any losses. especially in 2008/2009 the poor banker chaps faced hard times when they were wrongly accused to be responsible for a fistful trillion of losses.

luckily, before the handcuffs and leg chains of the various law enforcement agencies were snapped on them it turned out that they were innocent like newborn babies. by sheer coincidence the real reason for the missing trillions were discovered by Captain Jean-Luc Picard and his crew serving on the starship Enterprise. it took only a few away missions to collect evidence which proved beyond any reasonable doubt that a concerted conspiracy of Species 4278 from the Delta Quadrant and the Ferengi Empire defrauded the banks by cashing in forged cheques and beaming the cash to a parallel dimension where it was laundered by purchasing precious metals such as Unobtainium, gold-pressed Latinum and alloys consisting of Trilithium and Bullshitium.

after that revelation, politicians all over the world sighed with relief and compensated the banks with fiat money they took and will take for years to come from the pockets of their relevant taxpayers. rumour has it that in case fiat money should be considered worthless at any time the politicians in charge will take go after those who have tangible assets (e.g. gold and silver) and confiscate them.

[Naam]

and where is all the gold to cover the backing of such currencies ? still in the ground ? it sure will fun when the run comes for the door lol ... gold bubble coming up ?

No the gold is above ground and would require that physical gold get revalued to a much higher level to back all the paper that currently circulates.

And that my friend is why the "gold buffs" are so bullish in the long term.

to fully back all existing worthless fiat currency on this planet the estimates for an equivalent gold price are between 45,000 and 68,000 US-Dollars (present value) per ounce.

an that my friends is causing wet dreams and hallucinations of some (but not all) gold lovers. gold is indeed a very powerful drug, even if not ingested.

A contraction of the current money supply would have to go along with any serious change to the financial system. The M3 expands and contracts in all countries and has for a long time. Why do you discount such important things when you make your over the top attempts to belittle anyone that chooses to think that we are in a long term bull trend. Gold has gone up for the last 11 years. Stop denying and start dealing with the reality.

stop denying and face reality that gold has been going down for the last 32 years because it's "intrinsic" as well as its fluctuating market value could not match inflation. period!

and no ridiculous and unfounded comments that the FBI is up the àss of bankers who generated losses without violate any law changes that fact.

[cdmtdm]

every bull run must come to an end at some point,11 years a hell of a run ... Naam made mention of a subject gold and silver holders dont want to think about ... a change in the laws as to the ownership of both those metals ..happened before and could be the bunny they pull out of the hat closer to crisis time .... forcing u to swap the metal for paper or lose it ....

[Jayman]

^^^^^^

and that's just a taste of what you get when you join.

http://ww.naams-nonsense.org

[binjalin]

every bull run must come to an end at some point,11 years a hell of a run ... Naam made mention of a subject gold and silver holders dont want to think about ... a change in the laws as to the ownership of both those metals ..happened before and could be the bunny they pull out of the hat closer to crisis time .... forcing u to swap the metal for paper or lose it ....

Oh yea can see the Thai government doing that ! Dear Chinese hand over your gold or...

Edited May 16, 2012 by binjalin

[Jayman]

every bull run must come to an end at some point,11 years a hell of a run ... Naam made mention of a subject gold and silver holders dont want to think about ... a change in the laws as to the ownership of both those metals ..happened before and could be the bunny they pull out of the hat closer to crisis time .... forcing u to swap the metal for paper or lose it ....

oh please... #1, who knows how much gold I have. #2 good luck finding it, hope you brought your metal detector.

Any talk of confiscation is more reason than ever to own physical and not paper gold or gold being held by a custodian.

[cdmtdm]

http://www.the-privateer.com/1933-gold-confiscation.htm

here it is ...now we have a world crisis looming ... u really think they well let a minority of the worlds population prosper because they have gold ? while the other 98% dont ... watch the goal post change at some point thats all i am saying ... remember i held and sold happy with the great outcome ... dont be dills and think u will be ok because u have gold ....

[Jayman]

the 1933 gold buy back is no secret. That is how we filled up fort knox. You need to remember that happened in only the US and not the whole world. Here in Thailand gold is bought and sold on every street corner. I don't think that the thai police will get away with going door to door and taking everyone's gold.

Also, confiscation is a bit of a misnomer as the gold was bought back by the US gov at a set price and not just confiscated as some would have you believe.

[Naam]

every bull run must come to an end at some point,11 years a hell of a run ... Naam made mention of a subject gold and silver holders dont want to think about ... a change in the laws as to the ownership of both those metals ..happened before and could be the bunny they pull out of the hat closer to crisis time .... forcing u to swap the metal for paper or lose it ....

oh please... #1, who knows how much gold I have. #2 good luck finding it, hope you brought your metal detector.

Any talk of confiscation is more reason than ever to own physical and not paper gold or gold being held by a custodian.

nobody will know how much gold anybody has if it is not spent. but should the need arise to spend it gold can be confiscated as easy as taking candy from a toddler.

[Naam]

http://www.the-priva...onfiscation.htm

here it is ...now we have a world crisis looming ... u really think they well let a minority of the worlds population prosper because they have gold ? while the other 98% dont ... watch the goal post change at some point thats all i am saying ... remember i held and sold happy with the great outcome ... dont be dills and think u will be ok because u have gold ....

you sold for what? worthless fiat money?

[cdmtdm]

govt"s all over the world deem anything they see fit to be illegal ... drugs , alcohol , guns , gay marriage , burkhas , taliban , ..short selling ( remember that ) and on it goes .... dont kid yourself that something like this could not happen .....

[Naam]

^^^^^^

and that's just a taste of what you get when you join.

http://ww.naams-nonsense.org

lame diversion! scared to comment on facts? such as "gold and inflation" or "FBI up JPM bankers àrses"?

[cdmtdm]

http://www.the-priva...onfiscation.htm

here it is ...now we have a world crisis looming ... u really think they well let a minority of the worlds population prosper because they have gold ? while the other 98% dont ... watch the goal post change at some point thats all i am saying ... remember i held and sold happy with the great outcome ... dont be dills and think u will be ok because u have gold ....

you sold for what? worthless fiat money?

land with access to lots of water