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Realistbear

Metals Looking Ugly Today ( Tuesday )

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http://uk.finance.yahoo.com/news/platinum-and-palladium-extend-slide-on-euro-as-equities-fall-reuters_molt-ca8a2b6c3129.html?x=0

Platinum and palladium extend slide on euro as equities fall
Jan "Janis" Harvey, 16:30, Tuesday 25 May 2010
LONDON (Reuters) - Platinum and palladium fell in Europe on Tuesday, resuming last week's slide, as investors took fright at a further drop in the euro and equity markets, and industrial end-users held out for lower prices..../
The world's largest gold-backed exchange-traded fund, New York's SPDR Gold Trust, said its holdings rose more than 16 tonnes to a record 1,236.889 tonnes as of May 24
.

1,2 million tonnes eh. Must have been a lot of mining going on very recently. Quite a lot. :ph34r:

Reflecting most of all the reality of the second leg to the monster recession/depression.

Have metals all peaked? IMO, yes they have. Metals are the last speculative bubble still in tact apart from UK house prices.

Edited by Realistbear

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http://uk.finance.yahoo.com/news/platinum-and-palladium-extend-slide-on-euro-as-equities-fall-reuters_molt-ca8a2b6c3129.html?x=0

Platinum and palladium extend slide on euro as equities fall
Jan "Janis" Harvey, 16:30, Tuesday 25 May 2010
LONDON (Reuters) - Platinum and palladium fell in Europe on Tuesday, resuming last week's slide, as investors took fright at a further drop in the euro and equity markets, and industrial end-users held out for lower prices.

Reflecting most of all the reality of the second leg to the monster recession/depression.

Have metals all peaked? IMO, yes they have. Metals are the last speculative bubble still in tact apart from UK house prices.

You're a very naughty bear.

Go and read up on confirmation bias and write a hundred lines. ;)

Incidentally RB, I thought of you when I looked through the Sky planner the other day. There is apparently a "Spectacled Bear" and there was a nature programme about it on one of the channels.

Edited by bobthe~

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RBCI at work :)

The article is real I am afraid. Don't fall into the sheeple trap of denial--nothing is a one-way bet. Goldbugs beware, the metal "safe haven" is begin to crack. No bubble lasts forever.

The question is, do you wait for the herd or do you get out before they panic and hit the sell button? The ETF ponzi must be mining thousands of tons of gold a day recently to sell so much paper.

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While it may be the last night at the palladium, the property price show must go on.

Is there a doctor in the house?

It would seem not.

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The article is real I am afraid. Don't fall into the sheeple trap of denial--nothing is a one-way bet. Goldbugs beware, the metal "safe haven" is begin to crack. No bubble lasts forever.

The question is, do you wait for the herd or do you get out before they panic and hit the sell button? The ETF ponzi must be mining thousands of tons of gold a day recently to sell so much paper.

Hmm I hate to break it to you, but paper isn't gold.

Nice use of general bear psychology though, props.

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This is a clear case of cognitive dissonance.

It afflicts most of us naturally, but anyone unable to control this should avoid taking investment decisions.

Cognitive dissonance is an uncomfortable feeling caused by holding two contradictory ideas simultaneously. The theory of cognitive dissonance proposes that people have a motivational drive to reduce dissonance by changing their attitudes, beliefs, and behaviors, or by justifying or rationalizing them.[2] It is one of the most influential and extensively studied theories in social psychology.

Dissonance occurs when a person perceives a logical inconsistency in their beliefs, when one idea implies the opposite of another. The dissonance might be experienced as guilt, anger, frustration, or even embarrassment. The idea of "sour grapes"—from the fable The Fox and the Grapes by Aesop (ca. 620–564 BCE), where the fox decides that the grapes he is unable to reach are probably not ripe enough to eat anyway—illustrates an example of cognitive dissonance: desiring something, then criticizing it because it proves unattainable, a phenomenon that Jon Elster calls "adaptive preference formation."[1]

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Hmm I hate to break it to you, but paper isn't gold.

Nice use of general bear psychology though, props.

That is where the problem lies. The paper is fiat based on an illusory amount of metal. The punters only think they are getting gold or rights thereto. The ETF that has flogged 1.6M tonnes of paper gold will go bust in nothing flat when the punters start selling and begin a gold panic. The sellers won't discriminate between the real, the paper or the futures.

"When the panic to sell (gold) begins it is more than likely that it will be an internet driven phenomenon with some website starting the process by spreading negativism and undermining confidence."

This is probably right.

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That is where the problem lies. The paper is fiat based on an illusory amount of metal. The punters only think they are getting gold or rights thereto. The ETF that has flogged 1.6M tonnes of paper gold will go bust in nothing flat when the punters start selling and begin a gold panic. The sellers won't discriminate between the real, the paper or the futures.

"When the panic to sell (gold) begins it is more than likely that it will be an internet driven phenomenon with some website starting the process by spreading negativism and undermining confidence."

This is probably right.

Can't really take you seriously when you don't even know what fiat means.

Hey ho.

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The paper is fiat based on an illusory amount of metal.

Aside from that somewhat suspect definition of fiat, what do you think will happen to the price of physical gold when people find out that it's scarcer than people thought?

Anyhoo, for a bit of fun, I've added the following as my sig:

Have metals all peaked? IMO, yes they have. Metals are the last speculative bubble still intact apart from UK house prices.

Just a mnemonic device for me really as I'm bound to forget how to get back to this thread in about 6 months time.

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Metals Looking Ugly Today ( Tuesday )

Some Metals Looking Ugly Today ( Tuesday )

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Aside from that somewhat suspect definition of fiat, what do you think will happen to the price of physical gold when people find out that it's scarcer than people thought?

Anyhoo, for a bit of fun, I've added the following as my sig:

Just a mnemonic device for me really as I'm bound to forget how to get back to this thread in about 6 months time.

I think just looking back through RB's posts will show that he has been calling the top for a while.

Still there are plenty here I am sure who call the top incorrectly in Housing. I called the top of the Dead Cat Bounce about 9 months ago, and in Esher, some houses are going for well over 2007 peak prices. not all mind...

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Can't really take you seriously when you don't even know what fiat means.

Hey ho.

Fiat is a simple term. It means a value ascribed to something. Gold's fiat is the value ascribed to it by the market, just like anything else really. It is a myth that gold is different to other commodities or metals. Even paper money relies on the value ascribed to it based on market forces. The market has authority as it dictates value. It also cannot be beaten.

http://www.merriam-webster.com/dictionary/fiat

Main Entry: fi·at

Pronunciation: \ˈfē-ət, -ˌat, -ˌät; ˈfī-ət, -ˌat\

Function: noun

Etymology: Latin, let it be done, 3d singular present subjunctive of fieri to become, be done — more at be

Date: circa 1631

1 : a command or act of will that creates something without or as if without further effort

2 : an authoritative determination : dictate <a fiat of conscience>

3 : an authoritative or arbitrary order : decree <government by fiat>

Edited by Realistbear

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Fiat is a simple term. It means a value ascribed to something. Gold's fiat is the value ascribed to it by the market, just like anything else really. It is a myth that gold is different to other commodities or metals. Even paper money relies on the value ascribed to it based on market forces. The market has authority as it dictates value. It also cannot be beaten.

http://www.merriam-webster.com/dictionary/fiat

Main Entry: fi·at

Pronunciation: \ˈfē-ət, -ˌat, -ˌät; ˈfī-ət, -ˌat\

Function: noun

Etymology: Latin, let it be done, 3d singular present subjunctive of fieri to become, be done — more at be

Date: circa 1631

1 : a command or act of will that creates something without or as if without further effort

2 : an authoritative determination : dictate <a fiat of conscience>

3 : an authoritative or arbitrary order : decree <government by fiat>

Yes, you have no idea what fiat means.

Or what a market is.

Other than that, you are good to go.

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Fiat is a simple term. It means a value ascribed to something. Gold's fiat is the value ascribed to it by the market, just like anything else really. It is a myth that gold is different to other commodities or metals. Even paper money relies on the value ascribed to it based on market forces. The market has authority as it dictates value. It also cannot be beaten.

Disagree with your definition of fiat - it imposes a value on the market, the market doesn't ascribe that value.

Does gold have intrinsic value? Nah, unless you're a Pakistani godmother presenting her nieces with nuggets of gold as birthrights. Bit complicated, but what if the people who see that intrinsic value end up dominating the global labour market? Hmmm.

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and here is a map of the river nile, not the only nial you will find on this thread today:

egypt_map.jpg

also how is it when anyone else starts a thread on precious metals it's gets moved pretty sharpish, but when king shoulda coulda woulda starts ones it stagnates in the main forum for days.

gold is now acting like a currency RB, get used to it

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http://uk.finance.yahoo.com/news/platinum-and-palladium-extend-slide-on-euro-as-equities-fall-reuters_molt-ca8a2b6c3129.html?x=0

The world's largest gold-backed exchange-traded fund, New York's SPDR Gold Trust, said its holdings rose more than 16 tonnes to a record 1,236.889 tonnes as of May 24.

1,2 million tonnes eh. Must have been a lot of mining going on very recently. Quite a lot. :ph34r:

Wouldn't that be one thousand two hundred and thirty six tonnes? Or am I missing something?

Edited by Charlton Peston

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http://uk.finance.yahoo.com/news/platinum-and-palladium-extend-slide-on-euro-as-equities-fall-reuters_molt-ca8a2b6c3129.html?x=0

Platinum and palladium extend slide on euro as equities fall
Jan "Janis" Harvey, 16:30, Tuesday 25 May 2010
LONDON (Reuters) - Platinum and palladium fell in Europe on Tuesday, resuming last week's slide, as investors took fright at a further drop in the euro and equity markets, and industrial end-users held out for lower prices..../
The world's largest gold-backed exchange-traded fund, New York's SPDR Gold Trust, said its holdings rose more than 16 tonnes to a record 1,236.889 tonnes as of May 24
.

1,2 million tonnes eh. Must have been a lot of mining going on very recently. Quite a lot. :ph34r:

Reflecting most of all the reality of the second leg to the monster recession/depression.

Have metals all peaked? IMO, yes they have. Metals are the last speculative bubble still in tact apart from UK house prices.

Nearly back over $1200 an ounce.

Dude - you are way off on this one - just quit now before it gets more embarrassing.

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Get a grip RB...you are nothing but a Schill!

If you really knew what you were talking about, you would realise how the cabal are trying everthing in their power to keep Gold under $1200 at today's close in order to avoid a run on the Comex!

Platinum and Palladium are a whole different ball game compared to Gold and Silver. A lack of historical knowledge is going to bite you right on your furry a$$.

Does making negative metal posts make you feel more confident about your over weighted paper position or something?

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  • 261 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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