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Renewed Investor

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I love when the commodities do this! Capitulation at it's finest! A thousand boots kicking you in the nuts!

It's like 2008 all over again. I bought then and I am buying now. I was shorting all day yesterday, they were practically risk off trades. £1000 in a few hours is a new record for me. I'll be short scalping Silver again today. I'll go long this summer though, probably May/June.

Don't try to time the bottom, just buy in increments and take advantage of all this fear and panic selling. Commodities will be in the toilet for a year or two which gives plenty of time to accumulate.

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I just love it.

"Don't buy just yet", (because everyone knows it's a busted flush), "but buy soon because it will be going up again." You can go short then long as much as you like, chum. I'll be keeping my gold portfolio exactly the same. At zero.

Where's Asheron at a time like this? I'm sure he could make the case for this being a once in a lifetime opportunity to buy PM's. Just like always.

Edited by Stainless Sam

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I just love it.

"Don't buy just yet", (because everyone knows it's a busted flush), "but buy soon because it will be going up again." You can go short then long as much as you like, chum. I'll be keeping my gold portfolio exactly the same. At zero.

Where's Asheron at a time like this? I'm sure he could make the case for this being a once in a lifetime opportunity to buy PM's. Just like always.

Don't. That's like saying "candyman" three times.

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In any asset class where there's a scarcity of physical but an abundance of unbacked paper the result is always inflation. What have we seen in the last two years but paper, paper, paper? The risk here is that the bear raid actually suppresses production of gold and silver - the average cost of mining silver is around $23, right where we are now. The South African mining industry is losing money even at $30. SBG securities believe the South Africans will need a gold price of $2,000 by 2015 to stay in business.

A general switch in demand preference now from paper to physical together with a production shortage could see the prices snap back very quickly.

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In any asset class where there's a scarcity of physical but an abundance of unbacked paper the result is always inflation. What have we seen in the last two years but paper, paper, paper? The risk here is that the bear raid actually suppresses production of gold and silver - the average cost of mining silver is around $23, right where we are now. The South African mining industry is losing money even at $30. SBG securities believe the South Africans will need a gold price of $2,000 by 2015 to stay in business.

A general switch in demand preference now from paper to physical together with a production shortage could see the prices snap back very quickly.

http://silverdoctors.com/10-of-us-annual-silver-supply-just-vaporized/

Posted in the other thread, but as you mentioned mines.....

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A lot of the demand has been among the boomer section of society for whom it represented a historical asset class, but nowadays there are so many alternatives in what people would consider to be 'money', and which don't have commissions of 10%ish when converting it to or from cash.

If the s*it hit the fan, gold would be the least of our worries and those holding cold hard cash / nappies / chickens and anything that had to be imported or couldn't be stolen easily, would be the (short term) winners.

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Don't. That's like saying "candyman" three times.

Candyman

Candyman

Candyman

C'mon Asheron, where are you? What do you think of the recent slump in Au and Ag?

I have a big Short on Gold right now. I am looking for a crash to $1050 before we bottom. I am also long the USD/JPY, have a look at that pair as major resistance has been broken.

I've a horrible feeling that it won't bottom - it will just revert to historical norms but we'll have to wait and see - years away.

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I've a horrible feeling that it won't bottom - it will just revert to historical norms but we'll have to wait and see - years away.

You could be right. Well, if it recovers and starts a new up leg I have the physical to ride that move out. If not, I can short the s**t out of it and still make dough.

By keeping a diversified portfolio and always having cash at hand you have options. If you go all in on something though and it turns against you there ain't anything you can do.

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You could be right. Well, if it recovers and starts a new up leg I have the physical to ride that move out. If not, I can short the s**t out of it and still make dough.

By keeping a diversified portfolio and always having cash at hand you have options. If you go all in on something though and it turns against you there ain't anything you can do.

Good trading. But you need to be really careful doing that.

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  • 242 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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