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Gold strategy in the current economy Rate Topic: ****- 12 Votes

#3061 User is offline   Democorruptcy 

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Posted 07 May 2012 - 04:18 PM

Look at that for a V recovery

Attached File  silverv.png (15.51K)
Number of downloads: 15
Democorruptcy
If you say "Democorruptcy" quickly, it sounds a bit like "Democracy". In a "Democracy" people vote for politicians who represent their interests. In the UK's "Democorruptcy" people can only vote for expense fiddling thieving MPs who are in the hip pocket of big business and the finance sector.

Governbankment
A "Governbankment" is a Government that has no line between itself and it's banks. The UK's Governbankment does policies to enrich bankers at the expense of the public. The more money people are encouraged to borrow, the more money bankers make.

The Funding for Lending Scheme (FLS) is stealing from savers to make them pay for crimes by bankers. Via lower interest on savings, all the bank fines for PPI, LIBOR and interest rates swaps are now being paid by savers so that bankers can keep pocketing bonuses.

"We need to make a really big change: from an economy built on debt to an economy built on savings" - David Camoron Jan 2009
"Printing money is the last resort of desperate governments when all other policies have failed" - George Osborne Jan 2009
- So what do Camoron & Osborne do? Print money and leave interest rates at 0.5% when inflation is over 5%

If it is asserted that civilization is a real advance in the condition of man -- and I think that it is, though only the wise improve their advantages -- it must be shown that it has produced better dwellings without making them more costly; and the cost of a thing is the amount of what I will call life which is required to be exchanged for it, immediately or in the long run.
http://classiclit.ab...en-Part-2_4.htm

I want to tell you my secret now.... I see debt people

#3062 User is offline   200p 

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Posted 07 May 2012 - 04:18 PM

View PostFortune, on 07 May 2012 - 08:10 AM, said:

Very interesting charts. Thanks.

Would you say that the 'mega-rich' sheeple will be the ones buying gold (from me?) at 8000 GBP per oz? Hmmm nice.

Hehe they'll be a panic.

#3063 User is offline   DiggerUK 

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Posted 07 May 2012 - 05:21 PM

Time magazine

View Postwarpig, on 07 May 2012 - 01:45 PM, said:

Don't be ridiculous, what about the London Gold Pool?


I was wondering how long before this old chestnut came up.
This article from Time magazine is one of half a dozen that were run at the time.
Check out that date.

As I said, not the best kept secret conspiracy of all time.
..._
"I am, therefore I think"

#3064 User is offline   DiggerUK 

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Posted 07 May 2012 - 05:26 PM

View Postwarpig, on 07 May 2012 - 01:50 PM, said:

Can you expand on this, I don't see how this somehow disproves manipulation.


If paper sales are sales of 'fictitious' gold, how can they affect the price of real gold that a jeweler in Bangalore buys.
Aren't most of the arguments about manipulation based on the premise that real gold isn't being traded.

Or are we on to the even older chestnut of there being no gold in central bank vaults.
..._
"I am, therefore I think"

#3065 User is offline   Take Me Back To London! 

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Posted 07 May 2012 - 05:36 PM

View PostDemocorruptcy, on 07 May 2012 - 04:18 PM, said:

Look at that for a V recovery

Attachment silverv.png


Thanks for this and the previous silver report.

It does not like going under $30.
Bankers may well have acted as if they’ve been sitting in the casino during the boom years. But it was a state-owned casino, with governments as the croupiers, and central bankers behind the bar giving out free booze.

John Stepek

#3066 User is offline   warpig 

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Posted 07 May 2012 - 08:04 PM

This article is dated 1 month after The Gold Pool's (TLGP) collapse, 6 years after it's inception. One tier of the second iteration of TLGP, was gold trading on the open market, so of course everyone knew about it. The point of mentioning the London Gold Pool, is the price of gold has been successfully managed in the past. Gold trading in the public domain caused a gold carry trade and eventually the Nixon shock. The rest is current history...

Why does it matter who does or doesn't know about the manipulation, the issue is that it happens. Yes HFT is part of the manipulation.

View PostDiggerUK, on 07 May 2012 - 05:21 PM, said:

Time magazine

I was wondering how long before this old chestnut came up.
This article from Time magazine is one of half a dozen that were run at the time.
Check out that date.

As I said, not the best kept secret conspiracy of all time.
..._


#3067 User is offline   warpig 

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Posted 07 May 2012 - 08:47 PM

Commodity exchanges in strategic time zones are interlinked, they function as one global market. Unless a futures trader requests physical delivery, not a single London Good Delivery Bar is moved from one vault to another, everything is settled in cash. The credibility of these exchanges, extends to the paper trades placed on them, even if there is an estimated [45|100]:1 ratio of paper to physical gold. Pseudo paper gold masquerades as the real thing and certainly effects the price of gold in Bangalor. If the market was reliant on just physical gold, the price would have to be multiples higher due to scarcity. Why should a market trade in virtual commodities, unless it's a mechanism for price control?

View PostDiggerUK, on 07 May 2012 - 05:26 PM, said:

If paper sales are sales of 'fictitious' gold, how can they affect the price of real gold that a jeweler in Bangalore buys. Aren't most of the arguments about manipulation based on the premise that real gold isn't being traded.

Or are we on to the even older chestnut of there being no gold in central bank vaults.
..._


#3068 User is offline   DiggerUK 

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Posted 08 May 2012 - 06:50 AM

View Postwarpig, on 07 May 2012 - 08:04 PM, said:

.....The point of mentioning the London Gold Pool, is the price of gold has been successfully managed in the past.....



View Postwarpig, on 07 May 2012 - 08:47 PM, said:

......Unless a futures trader requests physical delivery, not a single London Good Delivery Bar is moved from one vault to another....If the market was reliant on just physical gold, the price would have to be multiples higher due to scarcity......


That's my starting point for asking why the conspiracy arguments are still common coin, the fixing has never worked, and is well known. It is a tool of state to protect and maintain a stable currency, something that enterprise needs to rely on.
For me it is the state that is sinsiter, not what it has to do to maintain some sort of credibilty.

As an aside, it needs to be remembered that state fixng of gold's price is an imperfect art anyway; even Sir Isaac Newton failed to find a solution.

As to your second point, gold is bought and sold many times a day to be used as security in forex deals and, as you point out, never leaves it's hole in the ground. The ratios are unknown and can only be speculated on. LBMA members only reveal gold transfers, not gold traded, which reveals b()gger all. If the truth be known I suspect that is the bulk of gold business.

But if anybody needs physical, it's obtainable. And that applies equally to central banks, SPDR, me and you, there is no shortage. When demand for delivery is high then the pog will get a boost, but that is the market for you.
The flip side to that, is a drop in price if physical holders sell.
..._
"I am, therefore I think"

#3069 User is offline   warpig 

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Posted 08 May 2012 - 11:58 AM

The current gold market is a fractional system, where only a small percentage of tangible product exists. It's possible to have a run on the commodity exchanges, the same as you can have on the banks and people need to be aware of this. There is not enough physical gold in the system to satisfy current demand.

When the world was on an gold standard, it's fair to say the government acted within its rights to control the price of gold. However, as it now trades freely on the open market, any intervention is unwarranted and unjust IMO. Raising margin hikes 7 times in nearly as many days or selling 3/4 of the worlds annual production in 4 minutes has only one motive, to cripple the price. This is the work of nefarious governments, HFT algorithms, bullion and central banks with the sole aim of protecting the reputation of their currencies. Is this common knowledge? No. Is this part of some insidious plot to push investors in to bonds? Yes. Do I class this as a conspiracy to defraud the average investor? Yes I do.

View PostDiggerUK, on 08 May 2012 - 06:50 AM, said:

That's my starting point for asking why the conspiracy arguments are still common coin, the fixing has never worked, and is well known. It is a tool of state to protect and maintain a stable currency, something that enterprise needs to rely on.
For me it is the state that is sinsiter, not what it has to do to maintain some sort of credibilty.

As an aside, it needs to be remembered that state fixng of gold's price is an imperfect art anyway; even Sir Isaac Newton failed to find a solution.

As to your second point, gold is bought and sold many times a day to be used as security in forex deals and, as you point out, never leaves it's hole in the ground. The ratios are unknown and can only be speculated on. LBMA members only reveal gold transfers, not gold traded, which reveals b()gger all. If the truth be known I suspect that is the bulk of gold business.

But if anybody needs physical, it's obtainable. And that applies equally to central banks, SPDR, me and you, there is no shortage. When demand for delivery is high then the pog will get a boost, but that is the market for you.
The flip side to that, is a drop in price if physical holders sell.
..._


#3070 User is offline   warpig 

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Posted 08 May 2012 - 12:01 PM

There's a good interview with AEP here.

http://www.telegraph...ial-crisis.html

#3071 User is offline   R K 

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Posted 08 May 2012 - 12:25 PM

View PostBanana Monarchy, on 01 May 2012 - 02:20 PM, said:

He's a self-confessed unabashed metal head. He's as far from a contrarian as it's possible to be. He's so convinced by his position he repeatedly calls the oscillator bottoms as lows, rather than selling the counter-trend tops. Newbie errors.

There's a $100 move in gold on its way, but I suspect he'll be the wrong side of the trade.


$1614, as expected

"The problem with capitalism is that eventually you end up with everyone else's money" RK
"We have now entered The Great Rebalancing 2007-20xx" - RK
"Gold will go to $1000, Silver to $18" - RK August 2011
QE £100bn and build 1m council homes - RK
Carney announces the launch of Empire 2.0 - Rise of the Banksters Oct '13

#3072 User is offline   MrFlibble 

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Posted 08 May 2012 - 01:16 PM

View Postbulltraderpt, on 08 May 2012 - 12:28 PM, said:

I'm readily funds if Gold slips to $1450.


It's starting to come apart.

If Europe blows up the price could go anywhere (downwards), wouldn't be surprised to see it half in price one day, followed by it double the next as the entire spare stock is bought by the Chinese.

Just wait until this currency crisis moves into the USD, the EURO is just the appetizer.
"Gold is the money of kings; silver is the money of gentlemen; barter is the money of peasants; but debt is the money of slaves." - Norm Franz

In Gold we trust...

#3073 User is offline   Take Me Back To London! 

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Posted 08 May 2012 - 01:35 PM

View PostMrFlibble, on 08 May 2012 - 01:16 PM, said:

It's starting to come apart.

If Europe blows up the price could go anywhere (downwards), wouldn't be surprised to see it half in price one day, followed by it double the next as the entire spare stock is bought by the Chinese.

Just wait until this currency crisis moves into the USD, the EURO is just the appetizer.


Dear Mr Flibble,

Do you still have those reserves ready for your sub £900 target gold?
Bankers may well have acted as if they’ve been sitting in the casino during the boom years. But it was a state-owned casino, with governments as the croupiers, and central bankers behind the bar giving out free booze.

John Stepek

#3074 User is offline   Take Me Back To London! 

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Posted 08 May 2012 - 01:44 PM

View Postbulltraderpt, on 08 May 2012 - 12:56 PM, said:

Gold just dropped off a cliff $24.00!


One has to have to be laid back about these things and a sense of humour, with the election results and more doubt about the euro last weekend, I expected gold to get whacked, even when it should be doing the opposite, I have seen it so many times :lol:

More discount price gold. :) Some 2012 sovereigns for me.

This post has been edited by Take Me Back To London!: 08 May 2012 - 01:56 PM

Bankers may well have acted as if they’ve been sitting in the casino during the boom years. But it was a state-owned casino, with governments as the croupiers, and central bankers behind the bar giving out free booze.

John Stepek

#3075 User is online   Errol 

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Posted 08 May 2012 - 01:55 PM

Starting to get a bit more interesting now. Still not low enough in GBP though. Ideally, would want a couple of hundred lower at least (fingers crossed).

This post has been edited by Errol: 08 May 2012 - 01:55 PM

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