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Global recovery (not) on - check

Gold price predicted to go lower - check

Nobody here talking about gold - check

Gold price low - check

UK & US still bankrupt - check

US government on shutdown - check

Europe still bankrupt - check.

I am calling bottom today @ 1300 USD an ounce - Disclaimer I don't hold any gold.

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You could almost say our situation has.....a silver lining.

Now silver, I do have some of that :rolleyes:

Started saving in it for my retirement, so hopefully as I stack a kilo or 3 every year I will have something to retire on. I might divest into stamps and gold at some point though. Those 1kg Silver kolas are great (and only 7% VAT until Xmas)

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Jim Rickards says that in the long run (7-10 years) the natural target of gold will be around $7000. And although he's often interviewed by Kitco he's not a goldbug, as he recommends to invest only 15% in gold.

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Jim Rickards says that in the long run (7-10 years) the natural target of gold will be around $7000. And although he's often interviewed by Kitco he's not a goldbug, as he recommends to invest only 15% in gold.

What does he recommend investing the other 85% in? Facebook and Apple shares?

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What does he recommend investing the other 85% in? Facebook and Apple shares?

There should be a recent interview with Daniela Cambone on the Kitco youtube channel. I'll leave that to you.

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Having said that, I'f I'd put all my money into gold in 2008 and sold it in 2011 I'd be buying a house for cash. Hindsight is a wonderful thing I guess :)

There were posters here back in 2007/8 saying that gold was the only safe place to keep your money. I believed them and followed through on what they were saying and through sheer good luck ended up in the situation you described.

There have been other places to put money for safekeeping that have done even better of course. I could have had a much bigger house had I put the money in Apple shares - more hindsight...

Edit: Hmmm. Just read my sig. Might need an update on the London front.

Edited by salamander

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Agreed that this is either the bottom or very close to it.

I have been buying some extra G&S each month, especially if the price is on a "dip". Although I got into the PM market a bit late, my savings, as translated into Gold, have done very well; far better than the laughable levels of "interest" offered by the Banks for savings accounts. Any time I see MSM pieces encouraging people to sell their gold, I don't know whether to laugh at my good fortune or get very angry at the lies they are disseminating.

If you are a trader, then buying and selling as the price goes up and down is a perfectly valid course of action. Holders of the physical metal should sit tight. We are getting very close to the endgame now. It is no co-incidence that the Rothschilds got out of the gold market a few years ago. I have heard rumours that they might have jumped before they were pushed, but the decision was nevertheless the right one. The Rothschilds don't think in terms of years, they work in decades and centuries, with a view to enhancing their family wealth down the generations.

When you see the way things are going, and when all the fundamentals point the same way (to an almighty crash and the replacement of the USD by the Renminbi or a basket of Eastern/Asian currencies) then it's time to get out of the MSM markets; although there's no harm in taking a little fish if one swims past. Forecasting the exact time is impossible; I've lost count of the number of times I've gone to an ATM on Friday to draw cash out because I've thought that there was a "Bank Holiday" coming on the Monday.

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I'm with you on bottom calling here now too. Every takedown is leading to increased physical demand, it's not having the effect the people that be desire. I think there may be one more large takedown to really shake out weak hands, but that will be it. I'm in now anyway and holding mine until retirement (30+ years) unless things get crazy and I buy a big house with them.

Edited by honkydonkey

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If you are a trader, then buying and selling as the price goes up and down is a perfectly valid course of action. Holders of the physical metal should sit tight. We are getting very close to the endgame now. It is no co-incidence that the Rothschilds got out of the gold market a few years ago. I have heard rumours that they might have jumped before they were pushed, but the decision was nevertheless the right one. The Rothschilds don't think in terms of years, they work in decades and centuries, with a view to enhancing their family wealth down the generations.

Perhaps I am misunderstanding something here, but if a family with a proven track record of being ahead of the game in terms of decades and even centuries, got themselves out of the gold market, wouldn't this suggest that long term, gold isn't a good bet?

I suspect that metals prices could go much lower than they are now, but if/when the global dollar standard fails, all that is going to count for anything are hard assets. With that said, a US default I think would likely precipitate a sharp sell off/deflationary trend in just about everything, initially at least.

.....and on this note, wtf are the US congress playing at? Are they going to reach an agreement or am I going to have to empty my bank accounts 'just in case'?

Correct me if I am mistaken, but not raising the debt ceiling means that not only can the US government not meet its public spending liabilities, it also means that they basically don't have enough to pay US government bond holders, does it not? (which means massive financial panic)

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Perhaps I am misunderstanding something here, but if a family with a proven track record of being ahead of the game in terms of decades and even centuries, got themselves out of the gold market, wouldn't this suggest that long term, gold isn't a good bet?

I suspect that metals prices could go much lower than they are now, but if/when the global dollar standard fails, all that is going to count for anything are hard assets. With that said, a US default I think would likely precipitate a sharp sell off/deflationary trend in just about everything, initially at least.

.....and on this note, wtf are the US congress playing at? Are they going to reach an agreement or am I going to have to empty my bank accounts 'just in case'?

Correct me if I am mistaken, but not raising the debt ceiling means that not only can the US government not meet its public spending liabilities, it also means that they basically don't have enough to pay US government bond holders, does it not? (which means massive financial panic)

No, they were pushed out or got themselves out to avoid "brand-contamination" by the exposure of the manipulation and no-gold-at-the-bullion-banks/other scandals. They have their Gold stored elsewhere, already. It is positioning prior to the event, to avoid the wild swings in price. Very much to the contrary, they know what is coming and as no-one can foresee the timing, they have followed their normal protocol and got out while the going is good. I may not like their morals, but I respect their knowledge and business timing.

The POG can't go much lower; we are close to the cost of production in Western sources. I am told Chinese mining is cheaper, but all Chinese production can be retained by the Chinese CB unless they have run out of storage space (!).

It is intended as a high-stakes poker game; but I remember that sometimes in the cowboy films, the unexpected happened just as the poker hand was being played out. You should have at least two weeks' worth of household expenses in cash stored outside the banking system, anyway. If the ATM network goes down, they won't give any warnings, will they? Remember that the Oaf was discussing the deployment of troops on the streets of the UK and we never knew about it until the crisis was (temporarily) over.

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