narco

Here's CGNAO's recent technical analysis on the pound v Euro

lol not cgnao, this image has been around for ages.

A dead cat bounce imo 100% before another sharp leg down. It may well have already have topped out at 1.115

I'm currently reading this book. Prechter does make a reasonable case for deflation but he even admits that he is clueless about gold but recommends to buy some anyway. The book starts with some fairly standard Elliot and cyclical analysis with an outragreous DOW 777 prediction. Most of the information in the book is US centric with safe bank lists, bear fund phone numbers etc. He recommends Swiss and Singapore goverment debt but generally US T-bills but offers a warning about these in case the dollar starts to fall.

There is no question cash is king right now but I have to admit that I'm very concerned about the near term future of GBP and eventually all paper currencies. Interest rates are simply irrelevent, safety is paramount. The only physical paper currency I would probably consider holding is the Swiss Franc. I'm considering holding onto a cash balance in USD using Goldmoney.com for a while. When the time is right, I can just transfer all the dollars into metal instantly at the click of a button for speed and convenience.

Where were the Indian buyers when gold languished in the mid to late 90's? I look at gold in Sterling and what feels reasonable to me. I'm not a buyer of gold coins at anything above £550. I'm very bearish on Sterling but even I admit that this crash against the Euro is probably a little overdone.

Yep Gold bounced off resistance as expected. Clive Maund put out an update a few days ago. http://www.clivemaund.com/article.php?art_id=68 I’d personally like to see gold coins priced in Sterling come down a lot from here. I've actually been tempted to offload a few coins at £700 each right now, practically double what I paid. If I could buy 1 oz Britannias for around £500-£550, I'd be buyer.

Eat your words. Gold currently £600. Where is your Sterling today?

The 1st target has been hit and now heading for the 2nd one.

That much despised yellow metal hit another record high in Sterling again today.

I'm not a trader but those trendlines are just obvious! Here's an example of how you can make a prediction of price points with parallel trendlines. This isn't my chart btw.

It broke through it?

There is of course a touch point on that chart.

There are some stupid people on this board this afternoon. Pure entertainment.

Erm that chart is about the most basic technical analysis you can get. There are no support levels as we've dropped through every single one. This guy clearly agrees. http://www.cnbc.com/id/15840232?video=959510804&play=1 Such a shame about those STR funds eh.

This guy is an idiot. These coins are clearly false but why would the US send the Chinese a pile of coins dated 2007 anway?

Backwardation gets the attention of Ambrose, with typos. http://www.telegraph.co.uk/finance/economi...below-zero.html

It all depends on how you measure deflation. If you look at prices and velocity then I guess it is deflation. If it's money supply then the official statistics don't show any signs of it except in the household and private corporation sector. http://www.bankofengland.co.uk/statistics/...rrent/index.htm

No probs, I just stuck some long term technical trendlines on it. Who knows where it could go. It seems parity is almost inevitable.

How low can it go? Here you are.

Yes, let's all lock in a 5% rate before our currency collapses.

Legitimate in whose eyes? This criminal fractional reserve system you endorse is directly responsible for all the financial problems we currently face.