Where Is Gold Going In This Market

[Naam]

"Actually as Churhills post pointed out.....Not sure if valid yet....But...It seems IMF will sell for cash if they do not find a CB to buy."

hmmm... what happened to the -in this and other threads- often repeated story that all central banks in the alpha and delta quadrant (not sure about the gamma quadrant) think day and night about increasing their gold holdings?

[flying]

"Actually as Churhills post pointed out.....Not sure if valid yet....But...It seems IMF will sell for cash if they do not find a CB to buy."

hmmm... what happened to the -in this and other threads- often repeated story that all central banks in the alpha and delta quadrant (not sure about the gamma quadrant) think day and night about increasing their gold holdings?

Well it does remain to be seen where these sub 200 tons ends up.

But as for now I would not be surprised to see many CB's take a wait & see approach.

Not that I agree with it & if I were a CB with fiat reserves I would be quick to cash some in for these tons.

It is rather funny though that the FED makes a small teeny tiny move raising the discount rate...Which is my understanding nothing more than the emergency type loans...Or extended for very short terms...like over night

Suddenly everyone is talking ....again...how the sun is shining & perhaps even others (like Thailand) should start planning their exit<sic> strategy like how the US has done.....

Yet the reality of the situation felt at least here in the US of A has changed zilch...nada...zip.

Record high unemployment...check

Record high foreclosures...check

Record high bankruptcies...check

Food prices going ballistic...check

Banks closed weekly...check

It never ceases to amaze just how gullible the world is when US of A makes a move. Do they not yet realize how they got where they all are today? Do they really want to follow these foot steps? Not that any can as the good old US of A..Has the drivers seat with the worlds reserve currency & the ability to magically increase fiat beyond any silly little debt.

Yet they cannot pass a train on the same set of tracks..... They should watch their direction.

just my song satang

Edited February 20, 2010 by flying

[Naam]

"Well it does remain to be seen where these sub 200 tons ends up."

i bet my [not so] sweet àss that all will be bought by central banks.

[siamamerican]

Yet the reality of the situation felt at least here in the US of A has changed zilch...nada...zip.

Record high unemployment...check

Record high foreclosures...check

Record high bankruptcies...check

Food prices going ballistic...check

Banks closed weekly...check

Not trying to be too confrontational but this section of the forum has become the DOOM & GLOOM BOYS CLUB. Hard for a non club member to play with you guys.

The non doom and gloomers have called the markets around the world correctly the last year and will continue to have a good track record over the next 5 years. If I had listened to all the doom perpetuated on this forum I would have substantially less money than I had a year ago. Looking back if I would had taken the opposite stance of the doom and gloomers, I would have made millions. If I only had the balls to buy a USA financial ETF a year ago.

Oh, I almost forgot. Record unemployment, bankruptcies, and sky rocketing food prices; other than not being accurate, what type of individuals would benefit from this scenario? My guess are those that hold commodities - hmm, who would that be?

My opinions mirror my belief that the world economy will weather this crisis with no lasting financial impact. Maybe the doomers are correct but your track record is really not that good.

Peace:)

[Naam]

"Not trying to be too confrontational but this section of the forum has become the DOOM & GLOOM BOYS CLUB. Hard for a non club member to play with you guys."

if you don't apologise immediately it's heavy sabres, sine sine, till blood flows, tomorrow sunday at sunrise, venue: my backyard after that snacks, port wine and some fun with the attending nurses

[sokal]

So you actually believe that the IMF is selling gold for the cash ? Why would they sell gold just to put the cash on the same pile that just rolled off the infinite printing press earlier that day ?

the IMF has neither a printing press nor unlimited cash but needs cash. your answer is irrelevant as far a "China really lost..." is concerned.

I don't think having a printing press or having Ben Bernanke on speed dial is any different.

[sokal]

Yet the reality of the situation felt at least here in the US of A has changed zilch...nada...zip.

Record high unemployment...check

Record high foreclosures...check

Record high bankruptcies...check

Food prices going ballistic...check

Banks closed weekly...check

Not trying to be too confrontational but this section of the forum has become the DOOM & GLOOM BOYS CLUB. Hard for a non club member to play with you guys.

The non doom and gloomers have called the markets around the world correctly the last year and will continue to have a good track record over the next 5 years. If I had listened to all the doom perpetuated on this forum I would have substantially less money than I had a year ago. Looking back if I would had taken the opposite stance of the doom and gloomers, I would have made millions. If I only had the balls to buy a USA financial ETF a year ago.

Oh, I almost forgot. Record unemployment, bankruptcies, and sky rocketing food prices; other than not being accurate, what type of individuals would benefit from this scenario? My guess are those that hold commodities - hmm, who would that be?

My opinions mirror my belief that the world economy will weather this crisis with no lasting financial impact. Maybe the doomers are correct but your track record is really not that good.

Peace:)

You might want to rephrase your last comment after looking at this chart. Notice the 5000+ Nasdaq in 1999. 10 year chart Dow S&P Nasdaq Gold

[flying]

Not trying to be too confrontational but this section of the forum has become the DOOM & GLOOM BOYS CLUB. Hard for a non club member to play with you guys.

The non doom and gloomers have called the markets around the world correctly the last year and will continue to have a good track record over the next 5 years. If I had listened to all the doom perpetuated on this forum I would have substantially less money than I had a year ago. Looking back if I would had taken the opposite stance of the doom and gloomers, I would have made millions. If I only had the balls to buy a USA financial ETF a year ago.

Oh, I almost forgot. Record unemployment, bankruptcies, and sky rocketing food prices; other than not being accurate, what type of individuals would benefit from this scenario? My guess are those that hold commodities - hmm, who would that be?

My opinions mirror my belief that the world economy will weather this crisis with no lasting financial impact. Maybe the doomers are correct but your track record is really not that good.

Peace:)

Well not really............

Yes it is bad & has been bad for awhile now.

It has not stopped me from making money in my trade but I have a good reputation so that helps.

Also I do not know where you live but I do live in the US 9-10 months a year. Although I own a condo, a residence & some land in LOS also.

So what I report is what I see HERE in my area of the US of A not what I hear. Perhaps your neck of the woods is different? I am happy for you if that is the case. But it is not the case here where I am located. Where I am located my statements are true.

As for being non confrontational....Well we will see & I hope your track record in that regard is not an indication of your future steps here.

But to imply that I somehow benefit by telling the truth regarding how it is here because I hold PM's is silly at best.

If you stick around & read back a ways you will see I have always said PM's are not an investment for me & I really care not how they do. Some folks talk the talk & some folks walk the walk....I do both.

I have retreated from many things US standard in the last year or two because i do not like the smell of it.

I dont talk & yet continue to play. I say it stinks & get out of those things.

As for track records on the financial conditions I will be the first to say I hope your right. I personally do not see one shred of evidence yet to support your claim but still hope your right. As for your saying XXX called shit & will continue to do so for the next 5 years......... Well congrats & good luck with that....It remains to be seen what the next 5 years bring.

As for my track record? I did not know I had one? But like I said I just state the facts as they stand now. I am not a doom & gloomer & to tell you the truth such things as I stated above do not really impact me for now as I carry no debt...have been self employed my whole life...And am quite self sufficient/supporting.

But I do have kids & see what this is doing to their future.

I am of the mind that generations should at least try to leave the place as they found it or better for the future generations sake.

The way this thing is going I cannot say I am impressed with our generations gift to the next.

Edited February 20, 2010 by flying

[Abrak]

"Not trying to be too confrontational but this section of the forum has become the DOOM & GLOOM BOYS CLUB. Hard for a non club member to play with you guys."

if you don't apologise immediately it's heavy sabres, sine sine, till blood flows, tomorrow sunday at sunrise, venue: my backyard after that snacks, port wine and some fun with the attending nurses

Actually I find this a very sensible gold thread (if such a thing exists)

What should be more worrying is that there are threads like 'Thailand Economic Collapse' where there are complete and utter lunatics who's end of the world as we know it forecast for Thailand is combined with 'buy gold'. Luckily I guess they are irrelevant because they will never sell it until the next coming of Christ which I am reliably informed by my broker is several years away

[churchill]

US as well as IMF to sell gold ( pity the UK has already sold !)

US To Trade Gold Reserves For Cash Through Cash4Gold.com

[flying]

US as well as IMF to sell gold ( pity the UK has already sold !)

US To Trade Gold Reserves For Cash Through Cash4Gold.com

I saw that last year....funny stuff

joking aside I always wished that Ron Paul would have done a audit Fort Knox Bill along with the audit the FED bill

Gold has not been counted ..(independently) in over 50 years

[Abrak]

Not trying to be too confrontational but this section of the forum has become the DOOM & GLOOM BOYS CLUB. Hard for a non club member to play with you guys.

The non doom and gloomers have called the markets around the world correctly the last year and will continue to have a good track record over the next 5 years. If I had listened to all the doom perpetuated on this forum I would have substantially less money than I had a year ago. Looking back if I would had taken the opposite stance of the doom and gloomers, I would have made millions. If I only had the balls to buy a USA financial ETF a year ago.

Oh, I almost forgot. Record unemployment, bankruptcies, and sky rocketing food prices; other than not being accurate, what type of individuals would benefit from this scenario? My guess are those that hold commodities - hmm, who would that be?

My opinions mirror my belief that the world economy will weather this crisis with no lasting financial impact. Maybe the doomers are correct but your track record is really not that good.

Peace:)

Look Siamamerican, the track record of the doom and gloomers is no better or worst than the optimists. To say you would have made a fortune in a financial ETF if you had bought at the right time year last probably would not have irradicated your losses if you bought it the previous year. Lets face 2001-2010 was pretty feeble, employment in the US did not increase for the first decade ever, the stock market did not increase, real median incomes are at the same level as 1973.

So a one year good record isnt really the sort of call you can really justify for suggesting how the good the record is going to be over the next 5 years. As for the comment that financial crisis will have no lasting impact it really doesnt stack up with the facts that recoveries from financial crises are usually long and painful. Even Thailand has never produced the sort of growth that it did prior to 1997 after its financial crisis. It maybe different this time around but Bernanke is a genius** not a miracle worker.

You will have a lot more fun lambasting doom and gloomers on the Thailand economic collapse thread.

**This word was used that someone might spit their morning coffee over their computer screen

[Naam]

US as well as IMF to sell gold ( pity the UK has already sold !)

US To Trade Gold Reserves For Cash Through Cash4Gold.com

:D

I saw that last year....funny stuff

joking aside I always wished that Ron Paul would have done a audit Fort Knox Bill along with the audit the FED bill

Gold has not been counted ..(independently) in over 50 years

very cumbersome. gold is very heavy

[flying]

It maybe different this time around but Bernanke is a genius** not a miracle worker.

**This word was used that someone might spit their morning coffee over their computer screen

:D

[Naam]

"Not trying to be too confrontational but this section of the forum has become the DOOM & GLOOM BOYS CLUB. Hard for a non club member to play with you guys."

if you don't apologise immediately it's heavy sabres, sine sine, till blood flows, tomorrow sunday at sunrise, venue: my backyard after that snacks, port wine and some fun with the attending nurses

Actually I find this a very sensible gold thread (if such a thing exists)

What should be more worrying is that there are threads like 'Thailand Economic Collapse' where there are complete and utter lunatics who's end of the world as we know it forecast for Thailand is combined with 'buy gold'. Luckily I guess they are irrelevant because they will never sell it until the next coming of Christ which I am reliably informed by my broker is several years away

i [not so] humbly beg to differ. they are not lunatics but wishful thinkers. their own benefit (background the crashing of the Baht) is the reason for their wet dreams. somebody who lives from hand to mouth on a rather meager income is entitled to dreams. imagine your income is 1,000 pounds or 1,600 dollars and the baht going from 70 to 50, respectively from 42 to 33. i believe that's not funny for them.

[Abrak]

One thing that fascinates me is that a lot of Central Banks lease out their gold reserves (such as the BoE). What are they actually doing here borrowing against gold as collateral or leasing out the physical gold. It is really hard to see it as much of an asset. I bet all the Greeks have spent their gold long ago. Isnt it possible that these enormous shorts reported by several big investment banks (less face it they are not going to make a real short against something as totally intangible in worth as gold) is probably a hedge against CB leases of gold and some structured product. Gold does seem a little special in that it is the only forex reserve I can think of that you can lease and consider an asset (well ok you play forwards). Also if the IMF cant sell a 200 tons then some sort of lease seems perfect. Does someone understand these contracts?

[flying]

One thing that fascinates me is that a lot of Central Banks lease out their gold reserves (such as the BoE). What are they actually doing here borrowing against gold as collateral or leasing out the physical gold. It is really hard to see it as much of an asset. I bet all the Greeks have spent their gold long ago. Isnt it possible that these enormous shorts reported by several big investment banks (less face it they are not going to make a real short against something as totally intangible in worth as gold) is probably a hedge against CB leases of gold and some structured product. Gold does seem a little special in that it is the only forex reserve I can think of that you can lease and consider an asset (well ok you play forwards). Also if the IMF cant sell a 200 tons then some sort of lease seems perfect. Does someone understand these contracts?

Cant say I understand it either but....given the years since audit of fort knox I do wonder the same about the supposed 8000 tons.

I guess that is one of the reasons RP wants the books opened.

Edited February 20, 2010 by flying

[Abrak]

i [not so] humbly beg to differ. they are not lunatics but wishful thinkers. their own benefit (background the crashing of the Baht) is the reason for their wet dreams. somebody who lives from hand to mouth on a rather meager income is entitled to dreams. imagine your income is 1,000 pounds or 1,600 dollars and the baht going from 70 to 50, respectively from 42 to 33. i believe that's not funny for them.

But really these dreams do turn into nightmares for them. I mean they wont hold Thai baht because it is a crappy third world currency in their view so they keep it in dollars!! If you have limited means you really shouldnt be mismatching your assets and your liabilities (so you dont even have to have a view). I have always been ludicrously optimistic about how much the baht would appreciate but I have always overestimated the resilience of the BoT to waste money. Obviously the fundamentals of a currency is usually reflected in it s price (although you can usually bet successfully against the Central Bank). At one stage it was bible on TV that the baht was overvalued but nobody ever gave a rational reason. Mind you, you did ask me why the baht was undervalued once but I assumed you were just taking the piss as usual.

[lannarebirth]

Yet the reality of the situation felt at least here in the US of A has changed zilch...nada...zip.

Record high unemployment...check

Record high foreclosures...check

Record high bankruptcies...check

Food prices going ballistic...check

Banks closed weekly...check

Not trying to be too confrontational but this section of the forum has become the DOOM & GLOOM BOYS CLUB. Hard for a non club member to play with you guys.

The non doom and gloomers have called the markets around the world correctly the last year and will continue to have a good track record over the next 5 years. If I had listened to all the doom perpetuated on this forum I would have substantially less money than I had a year ago. Looking back if I would had taken the opposite stance of the doom and gloomers, I would have made millions. If I only had the balls to buy a USA financial ETF a year ago.

Oh, I almost forgot. Record unemployment, bankruptcies, and sky rocketing food prices; other than not being accurate, what type of individuals would benefit from this scenario? My guess are those that hold commodities - hmm, who would that be?

My opinions mirror my belief that the world economy will weather this crisis with no lasting financial impact. Maybe the doomers are correct but your track record is really not that good.

Peace:)

Said the pool boy turned NINJA loan salesman who was down 3% on a 5% off the top market correction that was 60% + off the lows.

[siamamerican]

Yet the reality of the situation felt at least here in the US of A has changed zilch...nada...zip.

Record high unemployment...check

Record high foreclosures...check

Record high bankruptcies...check

Food prices going ballistic...check

Banks closed weekly...check

Not trying to be too confrontational but this section of the forum has become the DOOM & GLOOM BOYS CLUB. Hard for a non club member to play with you guys.

The non doom and gloomers have called the markets around the world correctly the last year and will continue to have a good track record over the next 5 years. If I had listened to all the doom perpetuated on this forum I would have substantially less money than I had a year ago. Looking back if I would had taken the opposite stance of the doom and gloomers, I would have made millions. If I only had the balls to buy a USA financial ETF a year ago.

Oh, I almost forgot. Record unemployment, bankruptcies, and sky rocketing food prices; other than not being accurate, what type of individuals would benefit from this scenario? My guess are those that hold commodities - hmm, who would that be?

My opinions mirror my belief that the world economy will weather this crisis with no lasting financial impact. Maybe the doomers are correct but your track record is really not that good.

Peace:)

Said the pool boy turned NINJA loan salesman who was down 3% on a 5% off the top market correction that was 60% + off the lows.

HaHa - funny and I thought all you could do was endlessly talk about charts. Being down 3% was just a simple fact and by no means was I bosting. Actually, I was stating it at a negative and you took it completely out of context. You also rambled(earlier post) about placing a stop loss on a max 3% gain which I never stated. Reality sucks for the insecure but look on the bright side, you may have found a place on Thai visa that might finally listen to you.

Also, I was many other things than a pool boy and a loans salesman(6 months-lol). That was a part of my life where I found the strength to persevere and haven't lost the taste for winning the game of life since sweeping those pools. In reality, cleaning pools after breaking 10 bones two months prior and losing 30 lbs was an accomplishment. I guess sulking about the collapse of the dot com bubble and the lack of employment in my field was an option.

Really, you need to get a life and spend some real time enjoying life outside of TV. I'm sure you aren't all that bad a person and I bet you might make a friend or two. I recommend diversifying your communications beyond charts and graphs because most of the real world realizes you can't chart success.

I'm sick as _hell but getting better everyday so my days corresponding on TV are coming to an end. The best of luck finding that happy place.

Hugs to you,

Happy Ninja:)

[lannarebirth]

Yet the reality of the situation felt at least here in the US of A has changed zilch...nada...zip.

Record high unemployment...check

Record high foreclosures...check

Record high bankruptcies...check

Food prices going ballistic...check

Banks closed weekly...check

Not trying to be too confrontational but this section of the forum has become the DOOM & GLOOM BOYS CLUB. Hard for a non club member to play with you guys.

The non doom and gloomers have called the markets around the world correctly the last year and will continue to have a good track record over the next 5 years. If I had listened to all the doom perpetuated on this forum I would have substantially less money than I had a year ago. Looking back if I would had taken the opposite stance of the doom and gloomers, I would have made millions. If I only had the balls to buy a USA financial ETF a year ago.

Oh, I almost forgot. Record unemployment, bankruptcies, and sky rocketing food prices; other than not being accurate, what type of individuals would benefit from this scenario? My guess are those that hold commodities - hmm, who would that be?

My opinions mirror my belief that the world economy will weather this crisis with no lasting financial impact. Maybe the doomers are correct but your track record is really not that good.

Peace:)

Said the pool boy turned NINJA loan salesman who was down 3% on a 5% off the top market correction that was 60% + off the lows.

HaHa - funny and I thought all you could do was endlessly talk about charts. Being down 3% was just a simple fact and by no means was I bosting. Actually, I was stating it at a negative and you took it completely out of context. You also rambled(earlier post) about placing a stop loss on a max 3% gain which I never stated. Reality sucks for the insecure but look on the bright side, you may have found a place on Thai visa that might finally listen to you.

Also, I was many other things than a pool boy and a loans salesman(6 months-lol). That was a part of my life where I found the strength to persevere and haven't lost the taste for winning the game of life since sweeping those pools. In reality, cleaning pools after breaking 10 bones two months prior and losing 30 lbs was an accomplishment. I guess sulking about the collapse of the dot com bubble and the lack of employment in my field was an option.

Really, you need to get a life and spend some real time enjoying life outside of TV. I'm sure you aren't all that bad a person and I bet you might make a friend or two. I recommend diversifying your communications beyond charts and graphs because most of the real world realizes you can't chart success.

I'm sick as _hell but getting better everyday so my days corresponding on TV are coming to an end. The best of luck finding that happy place.

Hugs to you,

Happy Ninja:)

Of course you can chart success. You say you were involved in the Dot Com and Mortgage industries huh? Well, let's take a look:

Hmmm

Anyhow, talking about the economy and making money are two different things. While we may be investors or traders, or whatever, we are still citizens of various governments with opinions and insights into our governments behavior with respect to economics. We're human beings after all, accept for maybe zorro who says he doesn't care what happens to whomever if he can make a buck.

As for making money you'll find my approach centers around taking money out of markets as opposed to putting money into them.

Edited February 20, 2010 by lannarebirth

[sokal]

One thing that fascinates me is that a lot of Central Banks lease out their gold reserves (such as the BoE). What are they actually doing here borrowing against gold as collateral or leasing out the physical gold. It is really hard to see it as much of an asset. I bet all the Greeks have spent their gold long ago. Isnt it possible that these enormous shorts reported by several big investment banks (less face it they are not going to make a real short against something as totally intangible in worth as gold) is probably a hedge against CB leases of gold and some structured product. Gold does seem a little special in that it is the only forex reserve I can think of that you can lease and consider an asset (well ok you play forwards). Also if the IMF cant sell a 200 tons then some sort of lease seems perfect. Does someone understand these contracts?

The IMF stated that sales will be conducted in the open market, which is interesting because until now, gold has only been made available to central banks. While the IMF remains open to central banks buying some of the gold, sales will be conducted “in a phased manner over time” to avoid disruptions to the open market.

So, will IMF sales depress the gold price? Well, remember the price rose with the first sale, when it was announced India was buying 200 tonnes of the 212 for sale. But that was an offtake deal, not an open market sale, so the question is legitimate.

One way to look at it is this: global mine production was 80.9 million ounces in 2009, so the IMF’s 6.7 million ounces could be a market-jolting 8.2% addition if dumped all at once. And an 8.2% load would indeed upset a market if we were talking about strawberries or anything else that people buy only for the purpose of consuming.

But most gold isn’t bought for the purpose of using it up. It’s bought for the purpose of holding it. So the relevant comparison for the IMF’s 6.7 million ounces isn’t annual mine production. Instead, we should compare it to the world’s existing stockpile of gold, which is roughly 2 billion ounces. The IMF sale would add just 0.3% to global inventory – hardly a market trasher.

Further, we’ve been down this road before with the IMF. When they sold gold in the 1970s, the price dropped upon the announcement of the sale, but then rose when actual sales took place.

And the dirty joke is this: when the IMF sold gold in the 1970s, it marked a bottom in the price. The late Jerome Smith advised always betting against the government: “When they’re unloading an asset, it’s time to buy.”

The IMF provides some very cushy jobs for the right people, along with a perpetual series of exquisitely catered conferences for the politically connected and politically correct. These people are not exactly known for being the brightest economic decision-makers. However noble their cause, the fact that they’re selling at all in the current environment, given the enormity of the monetary crisis that will only worsen as time goes on, tells me I want to be doing the opposite.

[siamamerican]

Not trying to be too confrontational but this section of the forum has become the DOOM & GLOOM BOYS CLUB. Hard for a non club member to play with you guys.

The non doom and gloomers have called the markets around the world correctly the last year and will continue to have a good track record over the next 5 years. If I had listened to all the doom perpetuated on this forum I would have substantially less money than I had a year ago. Looking back if I would had taken the opposite stance of the doom and gloomers, I would have made millions. If I only had the balls to buy a USA financial ETF a year ago.

Oh, I almost forgot. Record unemployment, bankruptcies, and sky rocketing food prices; other than not being accurate, what type of individuals would benefit from this scenario? My guess are those that hold commodities - hmm, who would that be?

My opinions mirror my belief that the world economy will weather this crisis with no lasting financial impact. Maybe the doomers are correct but your track record is really not that good.

Peace:)

Well not really............

Yes it is bad & has been bad for awhile now.

It has not stopped me from making money in my trade but I have a good reputation so that helps.

Also I do not know where you live but I do live in the US 9-10 months a year. Although I own a condo, a residence & some land in LOS also.

So what I report is what I see HERE in my area of the US of A not what I hear. Perhaps your neck of the woods is different? I am happy for you if that is the case. But it is not the case here where I am located. Where I am located my statements are true.

As for being non confrontational....Well we will see & I hope your track record in that regard is not an indication of your future steps here.

But to imply that I somehow benefit by telling the truth regarding how it is here because I hold PM's is silly at best.

If you stick around & read back a ways you will see I have always said PM's are not an investment for me & I really care not how they do. Some folks talk the talk & some folks walk the walk....I do both.

I have retreated from many things US standard in the last year or two because i do not like the smell of it.

I dont talk & yet continue to play. I say it stinks & get out of those things.

As for track records on the financial conditions I will be the first to say I hope your right. I personally do not see one shred of evidence yet to support your claim but still hope your right. As for your saying XXX called shit & will continue to do so for the next 5 years......... Well congrats & good luck with that....It remains to be seen what the next 5 years bring.

As for my track record? I did not know I had one? But like I said I just state the facts as they stand now. I am not a doom & gloomer & to tell you the truth such things as I stated above do not really impact me for now as I carry no debt...have been self employed my whole life...And am quite self sufficient/supporting.

But I do have kids & see what this is doing to their future.

I am of the mind that generations should at least try to leave the place as they found it or better for the future generations sake.

The way this thing is going I cannot say I am impressed with our generations gift to the next.

Classy reply!

I wasn't referring to you specifically in reference to doom & gloomers track record. I would include you as a member but only from an economic perspective. As for your statement about record bank foreclosures..., I agree it is worse than it has been in a while. I'm a little anal, unlike the previous poster that checked off your statements, and the word record should be taken off most those statements. Only have to back 20 years to see higher inflation, bank closures and unemployment.

Our generation in America has some work to do just as most of the developed world. We have become addicted to living beyond our means and with a little luck this will slowly stop.

As for where I live, the answer is Thailand. Been traveling lots and slowing down now to figure out my next move. Work won't be in the cards - just fun times. I really could use a few months break from the heat. Trout fishing in the USA sure sounds good.

Take care

[siamamerican]

Of course you can chart success. You say you were involved in the Dot Com and Mortgage industries huh? Well, let's take a look:

Hmmm

Anyhow, talking about the economy and making money are two different things. While we may be investors or traders, or whatever, we are still citizens of various governments with opinions and insights into our governments behavior with respect to economics. We're human beings after all, accept for maybe zorro who says he doesn't care what happens to whomever if he can make a buck.

As for making money you'll find my approach centers around taking money out of markets as opposed to putting money into them.

Well, I'm a whatever I guess. I do what feels good, makes sense ethically and at times screw the pooch. Investing is an extension in most instances of the person you are and me being a optimist has benefited me the last 5 years.

As for charting and success, I disagree it even comes close to guarantying success. Using the past bubbles to make your case is extremely weak. Why don't you throw in another bubble - the Great Depression. I didn't need a chart to know that we were in the middle of the biggest real estate bubble ever seen in America. It had to pop but bankers were making money, builders were making money and home owners were making money. Nobody cared!

Tell me what is going to happen over the next 1, 2, 18 months to the Dow using your charts. You've probably been successful over the last 2 years because the environment is perfect for your type of investor. I've basically been a cyclical investor in equities and real estate the last 2 years and doing well but realize that this isn't a long term strategy as far as I'm concerned. I wonder how it works out for you when things calm down.

Hugs,

Ninja

[Naam]

i [not so] humbly beg to differ. they are not lunatics but wishful thinkers. their own benefit (background the crashing of the Baht) is the reason for their wet dreams. somebody who lives from hand to mouth on a rather meager income is entitled to dreams. imagine your income is 1,000 pounds or 1,600 dollars and the baht going from 70 to 50, respectively from 42 to 33. i believe that's not funny for them.

But really these dreams do turn into nightmares for them. I mean they wont hold Thai baht because it is a crappy third world currency in their view so they keep it in dollars!! If you have limited means you really shouldnt be mismatching your assets and your liabilities (so you dont even have to have a view). I have always been ludicrously optimistic about how much the baht would appreciate but I have always overestimated the resilience of the BoT to waste money. Obviously the fundamentals of a currency is usually reflected in it s price (although you can usually bet successfully against the Central Bank). At one stage it was bible on TV that the baht was overvalued but nobody ever gave a rational reason. Mind you, you did ask me why the baht was undervalued once but I assumed you were just taking the piss as usual.

we should to be fair Abrak! my best guess is that the "wet dreamers" neither have the financial means nor are they informed about existing possibilities of hedging and matching their income/liabilities (in case they have the means). look at the postings concerning finances. i don't refer to this thread only but include those like "racist Thailand introduces 150 Baht ATM charge" . except for a handful of posters who have left i can't detect even a dozen TV-members who have more than a rudimentary knowledge or experience concerning personal investment.

[Naam]

The IMF stated that sales will be conducted in the open market, which is interesting because until now, gold has only been made available to central banks. While the IMF remains open to central banks buying some of the gold, sales will be conducted “in a phased manner over time” to avoid disruptions to the open market.

So, will IMF sales depress the gold price? Well, remember the price rose with the first sale, when it was announced India was buying 200 tonnes of the 212 for sale. But that was an offtake deal, not an open market sale, so the question is legitimate.

One way to look at it is this: global mine production was 80.9 million ounces in 2009, so the IMF’s 6.7 million ounces could be a market-jolting 8.2% addition if dumped all at once. And an 8.2% load would indeed upset a market if we were talking about strawberries or anything else that people buy only for the purpose of consuming.

But most gold isn’t bought for the purpose of using it up. It’s bought for the purpose of holding it. So the relevant comparison for the IMF’s 6.7 million ounces isn’t annual mine production. Instead, we should compare it to the world’s existing stockpile of gold, which is roughly 2 billion ounces. The IMF sale would add just 0.3% to global inventory – hardly a market trasher.

Further, we’ve been down this road before with the IMF. When they sold gold in the 1970s, the price dropped upon the announcement of the sale, but then rose when actual sales took place.

And the dirty joke is this: when the IMF sold gold in the 1970s, it marked a bottom in the price. The late Jerome Smith advised always betting against the government: “When they’re unloading an asset, it’s time to buy.”

The IMF provides some very cushy jobs for the right people, along with a perpetual series of exquisitely catered conferences for the politically connected and politically correct. These people are not exactly known for being the brightest economic decision-makers. However noble their cause, the fact that they’re selling at all in the current environment, given the enormity of the monetary crisis that will only worsen as time goes on, tells me I want to be doing the opposite.

Sokal = TV's master of copying and pasting

http://www.caseyresearch.com/displayCddPrint.php?id=351

[sokal]

The IMF stated that sales will be conducted in the open market, which is interesting because until now, gold has only been made available to central banks. While the IMF remains open to central banks buying some of the gold, sales will be conducted “in a phased manner over time” to avoid disruptions to the open market.

So, will IMF sales depress the gold price? Well, remember the price rose with the first sale, when it was announced India was buying 200 tonnes of the 212 for sale. But that was an offtake deal, not an open market sale, so the question is legitimate.

One way to look at it is this: global mine production was 80.9 million ounces in 2009, so the IMF’s 6.7 million ounces could be a market-jolting 8.2% addition if dumped all at once. And an 8.2% load would indeed upset a market if we were talking about strawberries or anything else that people buy only for the purpose of consuming.

But most gold isn’t bought for the purpose of using it up. It’s bought for the purpose of holding it. So the relevant comparison for the IMF’s 6.7 million ounces isn’t annual mine production. Instead, we should compare it to the world’s existing stockpile of gold, which is roughly 2 billion ounces. The IMF sale would add just 0.3% to global inventory – hardly a market trasher.

Further, we’ve been down this road before with the IMF. When they sold gold in the 1970s, the price dropped upon the announcement of the sale, but then rose when actual sales took place.

And the dirty joke is this: when the IMF sold gold in the 1970s, it marked a bottom in the price. The late Jerome Smith advised always betting against the government: “When they’re unloading an asset, it’s time to buy.”

The IMF provides some very cushy jobs for the right people, along with a perpetual series of exquisitely catered conferences for the politically connected and politically correct. These people are not exactly known for being the brightest economic decision-makers. However noble their cause, the fact that they’re selling at all in the current environment, given the enormity of the monetary crisis that will only worsen as time goes on, tells me I want to be doing the opposite.

Sokal = TV's master of copying and pasting

http://www.caseyresearch.com/displayCddPrint.php?id=351

I had to, usually I provide disclosure

[sokal]

Big developments today. Gold was going up with the dollar this morning by quite a high margin and stocks where getting clobbered (-190 dow) while gold stocks gained. Oil was down by almost $2 too.

Gold was decoupling from everything. Is the train leaving the station for gold stocks or at least putting a floor under them ?

[Naam]

Big developments today. Gold was going up with the dollar this morning by quite a high margin and stocks where getting clobbered (-190 dow) while gold stocks gained. Oil was down by almost $2 too.

Gold was decoupling from everything. Is the train leaving the station for gold stocks or at least putting a floor under them ?

is there one more DOW besides the one which went down -53.13

[churchill]

Big developments today. Gold was going up with the dollar this morning by quite a high margin and stocks where getting clobbered (-190 dow) while gold stocks gained. Oil was down by almost $2 too.

Gold was decoupling from everything. Is the train leaving the station for gold stocks or at least putting a floor under them ?

Rumours again that the Chinese are about to announce purchase of IMF gold .

http://www.kitco.com/reports/KitcoNews.html