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BobBobson

Requesting Some Commentary In This Forum Section From The Realistbear.

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I dont trust the recent climbs in the spot gold price and feel that there must be something amiss with all this.

Perhaps the Realistbear would care to drop by and shed some light with regards to what is really going on?

With any luck he will be able to convince some of these gold nuts around here to sell thier stacks whilst they still can!

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I dont trust the recent climbs in the spot gold price and feel that there must be something amiss with all this.

Perhaps the Realistbear would care to drop by and shed some light with regards to what is really going on?

With any luck he will be able to convince some of these gold nuts around here to sell thier stacks whilst they still can!

Ooh. You are naughty.

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I dont trust the recent climbs in the spot gold price and feel that there must be something amiss with all this.

Perhaps the Realistbear would care to drop by and shed some light with regards to what is really going on?

With any luck he will be able to convince some of these gold nuts around here to sell thier stacks whilst they still can!

The art of irony is not yet dead, innit?

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There are many people that do not understand the gold bugs argument. They insist on talking about commodity markets instead of currency markets. The bugs argue that gold is not a commodity, it is a foreign currency. You cannot spend it directly, but then you cannot spend dollars here either. What you can do with it is trade it for local currency, in any country in the world, at any time in history, come war or peace. Thus it is THE global currency and always has been. It's value is not related to its use in industry. There is another use for it, it's use as currency. It is this use that gives the metal it's value. It too is confidence based, but that confidence has lasted thousands of years. All other currencies are based on debt and that means you have a credit risk as well as the risk of the printing press. Nobody can print more gold and nobody can default on it.

Thus today we saw commodities fall but gold rise. Oil is not currency, it's price depends on usage. Platinum is not currency, it's price depends on auto sales. Silver is not currency, it attracts VAT and is used in industry. Only gold has the status of currency. People are fleeing fiat currency and moving to hard currency. Your credit balance at the bank is just electronic bits and depends on the survival of the bank. This is not about investment, about making money, it is about preserving what you have. All hell can break loose, yet history shows the man with a big bag of gold in his hands does just fine.

We could see a replay of 2008. Although gold suffered price drops, it did not do so nearly as much as other metals, commodities, shares etc. People will remember that and switch to gold to ride out the storm. The timing is knowing when to get out of gold and back into, the now cheap, other assets. These things go in waves.

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I dont trust the recent climbs in the spot gold price and feel that there must be something amiss with all this.

Perhaps the Realistbear would care to drop by and shed some light with regards to what is really going on?

With any luck he will be able to convince some of these gold nuts around here to sell thier stacks whilst they still can!

I doubt that anybody knows what will happen in the next few days. We are in a very volatile situation. Like most gold bulls, I've enjoyed the ride so far and I think the macroeconomics still favour gold for the long term but something like a 25% correction would not surprise me much. The gold bulls haven't been properly tested for a long time and I'm bracing myself for a bit of pain.

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I doubt that anybody knows what will happen in the next few days. We are in a very volatile situation. Like most gold bulls, I've enjoyed the ride so far and I think the macroeconomics still favour gold for the long term but something like a 25% correction would not surprise me much. The gold bulls haven't been properly tested for a long time and I'm bracing myself for a bit of pain.

Do you base that on anything in particular or is it just a gut pessimism.

The global market is staring down the throat of a deflationary crash which will (probably) be averted by money printing. I am no expert by any means but I really cannot see where a 25% correction could coneivably come from, except from US banks naked short selling gold futures for gold they couldnt possibly ever physically deliver.

Gold price been going nuts again since the US markets stopped trading and the Asian markets came into operation. I reckon it will $1775 - $1785 by the morning, then held in place during European trading times and knocked down a good chunk when the US start trading, before repeating the process all over again.

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RB has not been on for ages.

Last Active: Jun 28 2011 01:25 PM

He ran out of patience and bought a bungalow, just before stock markets began plunging, the housing market is under renewed and serious downwards pressure, and violent riots broke out.

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RB has not been on for ages.

Last Active: Jun 28 2011 01:25 PM

He ran out of patience and bought a bungalow, just before stock markets began plunging, the housing market is under renewed and serious downwards pressure, and violent riots broke out.

Once the stock markets have bottomed out he will be back to tell everybody how he shorted the market and made a ton of cash.

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RB has not been on for ages.

Last Active: Jun 28 2011 01:25 PM

He ran out of patience and bought a bungalow, just before stock markets began plunging, the housing market is under renewed and serious downwards pressure, and violent riots broke out.

When the last bear turns... :)

I miss RB, plus there is now nobody to keep interestrateripoff on his toes ;)

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Do you base that on anything in particular or is it just a gut pessimism.

Let's just say I'm a bit wary of all the easy money gold has had in the last few days. I honestly don't think anybody has a clue about what gold will do short term. Gold is one of the most volatile asset classes.

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Let's just say I'm a bit wary of all the easy money gold has had in the last few days. I honestly don't think anybody has a clue about what gold will do short term. Gold is one of the most volatile asset classes.

Ultimately I dont have a clue either, but for what it is worth, I have always believed in my gut that the fundamentals underlying the gold market should push it to astronomical heights, but these forces will be resisted by the financial powers that be becuase it is totally unacceptable to the mainstream of the wealth siphoning classes, that gold skyrockets.

So I believe that measures will always be taken to hold gold in its place and the futures market (where gold can be 'sold' that doesn't exist) is the ideal place for this to occur. Thier are videos all over YouTube that show blatant manipulation of the metals on the NY Comex.

So yeah, you are probably right in that these explosive gains will soon be corrected........unless of course we really are at the point of the system totally breaking down. I still expect $2000 gold by the end of the year, and I expected that well before any of the recent developments were made clear.

Edited by BobBobson

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He ran out of patience and bought a bungalow, just before stock markets began plunging, the housing market is under renewed and serious downwards pressure, and violent riots broke out.

God bless RB and his patented ContraBoostTM indicator.

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  • 285 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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