Jump to content


Photo

GOLD


30607 replies to this topic

#28701 warpig

warpig

    Tri-Millennium Guru

  • Members
  • PipPipPipPipPip
  • 3,101 posts

Posted 23 February 2012 - 04:07 PM

Projected PIIGS Pillage: 3233.5 Tons Of Gold To Be Confiscated By Insolvent European Banks

While hardly discussed broadly in the mainstream media, the top news of the past 24 hours without doubt is that in addition to losing its fiscal sovereignty, and numerous other things, the Greek population is about to lose its gold in a perfectly legitimate fashion, following amendments to the country's constitution by unelected banker technocrats, who will make it legal for Greek creditors - read insolvent European banks - to plunder the Greek gold which at last check amounts to 111.6 tonnes according to the WGC. And so we come full circle to what the ultimate goal of banker intervention in the European periphery is - nothing short of full gold confiscation. So just how much gold will be pillaged by the banker oligarchy (it is amusing how many websites believe said gold is sacrosanct by regional national banks, and thus the EUR is such a stronger currency as it has all this 'gold backing' - hint: it doesn't, as all the gold is about to be transferred to non-extradition countries)? As the World Gold Council shows in its latest update, between all the PIIGS, who will with 100% certainty suffer the same fate as Greece (which has shown that unlike during World War 2, it is perfectly willing to turn over and do nothing) there is 3234 tonnes of gold to be plundered. And likely more as further constitutional amendments will likely make the confiscation of private gold the next big step. how much does this amount to? At today's prices this is just shy of $185 billion. Of course by the time the market grasps what is going on the spot price of the yellow metal will be far, far higher. Or, potentially far, far lower and totally fixed as the open gold market is eventually done away with entirely in a reversion to FDR gold confiscation and price fixing days.



The chart below shows total gold holdings for the top 40 countries. Little Ireland is off the chart with just 6 tonnes of gold.


Posted Image
"There can be no other criterion, no other standard than gold. Yes, gold which never changes, which can be turned into ingots bars, coins, which has no nationality and which is eternally and universally accepted as the unalterable fiduciary value par excellence"

"Betting against gold is the same as betting on governments. He who bets on governments and government money, bets against 6,000 years of recorded human history."

Charles de Gaulle

#28702 halight

halight

    Millennium man

  • Members
  • PipPipPipPip
  • 1,763 posts

Posted 23 February 2012 - 05:01 PM

Do we know which banks will be takeing the Gold ? How many are other EU or euro area banks ? any other CBs. Any banks form USA , china ?

Would be good to know more details really so we have more of an idea on the out come.

Well it now dont really matter what anyone says. The Greeks are really bankrupt now, The last of there assets will be gone soon.
How long before there fine arts are sold off ? That should pay for a bonus for the PMs as they ahve done a really good job of looking after the country.
Please visit my book store,

http://astore.amazon...uk/investbar-21

#28703 LauraB

LauraB

    Millennium man

  • Members
  • PipPipPipPip
  • 1,078 posts
  • Gender:Female
  • Location:Wherever I lay my head
  • Interests:The Infinite. Music, esp. JS Bach. Self-sufficient peasant living, with comfort.

Posted 23 February 2012 - 09:06 PM

From Feb 2nd.. so draw big circles round each location :D
http://www.stratfor....-map-feb-2-2012


Are we playing Battleships?
I was really good at it in skool; esp. during Latin.
I just somehow knew where the enemy was. Won everytime.

#28704 Plastic Elastic

Plastic Elastic

    Centurion

  • Members
  • PipPip
  • 270 posts

Posted 23 February 2012 - 09:15 PM

[...]
I just somehow knew where the enemy was. Won everytime.

I'm sure with that sort of predictive powers you'll be more than welcome on the Fringe Forum :)
Liberty means responsibility. That is why most men dread it.
George Bernard Shaw
(1856 - 1950)

#28705 DrBubb

DrBubb

    Tri-Millennium Guru

  • Super Admins
  • PipPipPipPipPip
  • 68,016 posts
  • Gender:Male
  • Location:Hong Kong & London
  • Interests:Trading and investing in stocks and commodities. Writing articles on related subjects, while building this website. I am interested in creating ways for communities

Posted 24 February 2012 - 02:10 AM

I revisited Larry's clip from 2/20; he had said gold would encounter resistance at $1780, right where the rally stopped on Wednesday. He was saying that the next major move is to the downside.

He is now looking for $1830, after the "breakout".
But I note that Gold is now back down to $1778, so maybe it was a false breakout.
The market is "bipolar", swinging back and forth from a focus on Inflation to Deflation. Bet on swings; and stay flexible. What are bipolar markets? See: http://tinyurl.com/GEI-Manix

#28706 chris ct

chris ct

    Tri-Millennium Guru

  • Members
  • PipPipPipPipPip
  • 3,137 posts

Posted 24 February 2012 - 08:37 AM

He is now looking for $1830, after the "breakout".
But I note that Gold is now back down to $1778, so maybe it was a false breakout.

Well, I think ZH was having a larf...
Posted Image
http://tinyurl.com/yjnqo5p
All I wanna hear is that JPM is soon going to explode in a gigantic supernova that will take the Fed, Goldman, AIG, UBS, HSBC, Citi, and BofA with it, leaving behind a white dwarf that we will name "God's work".
The reason for this? see 1984 thread: "http://tinyurl.com/yepltr6" ak47 bomb bioweapon semtex ar15 glock 7.62mm allah jesus buddah fuse ricin plot plan operation grenade rocket ied phone poison anthrax airport runway invasion armor body bullet explosive hollowpoint explode gas mask NBC dirty plutonium nuke suitcase gas needle hypodermic

#28707 the bugler

the bugler

    Tri-Centurion

  • Members
  • PipPipPip
  • 326 posts

Posted 24 February 2012 - 03:48 PM



#28708 klogger

klogger

    Centurion

  • Members
  • PipPip
  • 156 posts

Posted 28 February 2012 - 10:32 AM

jsmineset.com

By looking at the HUI chart, Jim thinks that the gold shares are about to take off in a big way sometime in the next 6 months.

Posted Image

The MACD is right now crossing over to the upside from a very low point AFTER Gold has doubled in value and the shares have gone nowhere for 2 to 3 years. The RSI (relative strength) at the top of the chart is nowhere near overbought, the index is above the 200 week moving average and bumping up against the 50 week moving average (after trading below it for much of last year). What I am describing is a coiled spring! I am not saying that we go straight up from here, I am saying that the "trend" should be UP for the next 2-3 years while the weeklies work their way back upwards on a cyclical basis.


Charts can be painted yes, which is why I say the "planners" have painted themselves into a corner! The have "painted" the mining shares into a position where the weak hands have already exited and are now owned by strong hands.


My point is this, mining companies are the real life twin of central banks except their product IS real money as opposed to that which is simply printed or digitized.

If you can understand this concept, that mining companies ARE the true central banks to a real monetary system with a real currency, then you will understand what I have said for several years now…"if you own mining shares, you will be a charter member of the next banking system".


The chart of the HUI and the chart of the HUI relative to Gold (attached from www.stockcharts.com) are screaming "buy" and for good reason. Major mining companies are trading like Gold is $900-1,000 per ounce, exploration companies are trading as if Gold were $300-400 per ounce!



#28709 neel

neel

    Centurion

  • Members
  • PipPip
  • 157 posts

Posted 29 February 2012 - 09:34 AM

Iran to accept payments in gold. Potentially very significant.

http://www.reuters.c...E81S0GU20120229

#28710 G0ldfinger

G0ldfinger

    Tri-Millennium Guru

  • Members
  • PipPipPipPipPip
  • 11,512 posts
  • Gender:Male
  • Location:Fort Knox
  • Interests:Hoarding gold.

Posted 29 February 2012 - 11:22 AM

Iran to accept payments in gold. Potentially very significant.

http://www.reuters.c...E81S0GU20120229

They have few alternatives.
You can't tax deflation.
“Currency Induced Cost-Push Hyperinflation” vs “Demand-Pull (non-hyper) Inflation.”
The "no income --> no inflation"-thesis is as wrong as the "price control --> inflation control"-thesis.
Don't TRADE gold! You might lose your shirt in the biggest bull run ever. That would be embarassing. © possibly by Swampy
Posted Image
Gold, silver, property, currencies, commodities charts.

#28711 Jake

Jake

    Millennium man

  • Members
  • PipPipPipPip
  • 2,657 posts
  • Location:Japan

Posted 29 February 2012 - 12:23 PM

Iran to accept payments in gold. Potentially very significant.

http://www.reuters.c...E81S0GU20120229

Bahmani was quoted as saying. "If a country should so choose, it can pay in gold and we would accept that without any reservation."

Obviously not a Buffett follower. :lol: Imagine if gold for oil really caught on with other producers... ;)
"We are reaping what has been sown over the last three decades of creating a grotesquely unequal society with an ethos of grab as much as you can by any means. A society of looters created by MPs and their expenses, bankers and their bonuses, tax-evading corporations, hacking journalists, bribe-taking police officers, and now a group of alienated kids are seizing their chance. This is not to condone but to understand." - John McDonnell MP


"Things got a bit out of hand & we'd had a few drinks. We smashed the place up and Boris set fire to the toilets."
David Cameron, 7th June 1986.

#28712 Jake

Jake

    Millennium man

  • Members
  • PipPipPipPip
  • 2,657 posts
  • Location:Japan

Posted 29 February 2012 - 03:54 PM

WTF just happened? Gold down 61 dollars :o
"We are reaping what has been sown over the last three decades of creating a grotesquely unequal society with an ethos of grab as much as you can by any means. A society of looters created by MPs and their expenses, bankers and their bonuses, tax-evading corporations, hacking journalists, bribe-taking police officers, and now a group of alienated kids are seizing their chance. This is not to condone but to understand." - John McDonnell MP


"Things got a bit out of hand & we'd had a few drinks. We smashed the place up and Boris set fire to the toilets."
David Cameron, 7th June 1986.

#28713 warpig

warpig

    Tri-Millennium Guru

  • Members
  • PipPipPipPipPip
  • 3,101 posts

Posted 29 February 2012 - 04:09 PM

Take down.

Posted Image

WTF just happened? Gold down 61 dollars :o


"There can be no other criterion, no other standard than gold. Yes, gold which never changes, which can be turned into ingots bars, coins, which has no nationality and which is eternally and universally accepted as the unalterable fiduciary value par excellence"

"Betting against gold is the same as betting on governments. He who bets on governments and government money, bets against 6,000 years of recorded human history."

Charles de Gaulle

#28714 G0ldfinger

G0ldfinger

    Tri-Millennium Guru

  • Members
  • PipPipPipPipPip
  • 11,512 posts
  • Gender:Male
  • Location:Fort Knox
  • Interests:Hoarding gold.

Posted 29 February 2012 - 04:19 PM

Ho, ho, ho -- is it Christmas already? :lol:
You can't tax deflation.
“Currency Induced Cost-Push Hyperinflation” vs “Demand-Pull (non-hyper) Inflation.”
The "no income --> no inflation"-thesis is as wrong as the "price control --> inflation control"-thesis.
Don't TRADE gold! You might lose your shirt in the biggest bull run ever. That would be embarassing. © possibly by Swampy
Posted Image
Gold, silver, property, currencies, commodities charts.

#28715 stunlee

stunlee

    Centurion

  • Members2
  • PipPip
  • 273 posts
  • Gender:Male

Posted 29 February 2012 - 04:24 PM

Great, I love these massive manipulations, 45 dollars in 4 minutes! Very close to the 50 day MA, but I don't think I will be buying just yet.

#28716 DrBubb

DrBubb

    Tri-Millennium Guru

  • Super Admins
  • PipPipPipPipPip
  • 68,016 posts
  • Gender:Male
  • Location:Hong Kong & London
  • Interests:Trading and investing in stocks and commodities. Writing articles on related subjects, while building this website. I am interested in creating ways for communities

Posted 29 February 2012 - 04:53 PM

GLD : $166.52
Change: -6.50
Percent Change:-3.76%
Volume: 20,550,090 so far, versus average of maybe 12 million shares
I need to check the latest from "the Piper", Mr.Gold
1)
"2012 is the year the dollar falls as a result of a significant drop in dollar contract and settlement utilization. Imagine the demand for gold as the dollar closes below the antiquated measure of .7200 on the redundant USDX. When this occurs you will be looking back at $2111 from higher levels.

Please keep in mind that this is not a dress rehearsal but rather the real thing. There is no practical means to handle the problems at hand. We are at the dead end of the road the can has been kicked down.

Volatility in gold is going to go wild so just keep your head down and hold your insurance close to your chest."


2)
"Silver is a game, but one hell of a game. Another try by silver at $50 looks imminent." - JS

WTF?
How about a $62 drop in Gold instead?
Tell me again, someone. Why do people take this ramping so seriously?
The market is "bipolar", swinging back and forth from a focus on Inflation to Deflation. Bet on swings; and stay flexible. What are bipolar markets? See: http://tinyurl.com/GEI-Manix

#28717 Errol

Errol

    Millennium man

  • Members
  • PipPipPipPip
  • 1,379 posts
  • Gender:Male

Posted 29 February 2012 - 05:08 PM

You read too much into it. I don't read 'ramping' (if indeed that is even applicable to the gold/silver markets) into what Sinclair said.

He explicitly warns of imminent volatility - Volatility in gold is going to go wild - something he has been saying for a long time and something I've been expecting as well. We will see days with $200+ moves in the future.

As for the bit about 2012 ("2012 is the year the dollar falls as a result of a significant drop in dollar contract and settlement utilization. Imagine the demand for gold as the dollar closes below the antiquated measure of .7200 on the redundant USDX. When this occurs you will be looking back at $2111 from higher levels") - I would expect Gold to go above $2000 in 2012 as well. There's a long way to go in 2012.

People need to cut Mr. Sinclair some slack. He's always advocated NO TRADING and that gold is insurance/protection against what is coming. In that context you can't really 'ramp' as people should buy regardless of price (although again he generally advises people to buy on the 'fishing lines' and sell on the 'rhino horns').

I see this drop, which will hopefully grow, as an excellent time to add ounces.

No more, no less.
Want to get paid for polls? Try YouGov

#28718 DrBubb

DrBubb

    Tri-Millennium Guru

  • Super Admins
  • PipPipPipPipPip
  • 68,016 posts
  • Gender:Male
  • Location:Hong Kong & London
  • Interests:Trading and investing in stocks and commodities. Writing articles on related subjects, while building this website. I am interested in creating ways for communities

Posted 29 February 2012 - 05:18 PM

You read too much into it. I don't read 'ramping' (if indeed that is even applicable to the gold/silver markets) into what Sinclair said.

??
"Please keep in mind that this is not a dress rehearsal but rather the real thing. There is no practical means to handle the problems at hand. We are at the dead end of the road the can has been kicked down.

Volatility in gold is going to go wild so just keep your head down and hold your insurance close to your chest."

If that's Not Ramping, then I am Bill Murphy!
There's nothing clear-headed and thoughtful in what JS, just bullish nonsense.

Look at my chart- it suggested a possible important resistance level for Gold:
Posted Image

Do you see that in the writing of JS?
You have to stand on your head to see a $60 drop in what he said.
What a BS artist is Mr JS !
Why can you not see the ramping nonsense clearly for what it is?
The market is "bipolar", swinging back and forth from a focus on Inflation to Deflation. Bet on swings; and stay flexible. What are bipolar markets? See: http://tinyurl.com/GEI-Manix

#28719 G0ldfinger

G0ldfinger

    Tri-Millennium Guru

  • Members
  • PipPipPipPipPip
  • 11,512 posts
  • Gender:Male
  • Location:Fort Knox
  • Interests:Hoarding gold.

Posted 29 February 2012 - 05:33 PM

http://www.bloomberg...w-stimulus.html

Gold Falls as Fed Offers No New Stimulus
...
Gold plunged, heading for the biggest decline this year, on expectations that the Federal Reserve will refrain from taking new action to bolster the economy.

The dollar rebounded after Fed Chairman Ben S. Bernanke, in prepared testimony for Congress, gave no signal that the central bank is considering additional measures to spur the economy. He said the inflation outlook is “subdued.” The greenback gained as much as 0.5 percent against a basket of competing currencies.

The market is very, very disappointed as there is no mention of any additional stimulus,” Fain Shaffer, the president of Infinity Trading Corp. in Medford, Oregon, said in a telephone interview.

The poor market! So disappointed! Inflation subdued, aha. I'll call Bernanke for an apology when my insurance premiums and fuel bills go down.

Gosh, is this the kind of "gold" the Fed holds?

http://www.bloomberg...IJ9P3LcurEo.jpg
Posted Image
You can't tax deflation.
“Currency Induced Cost-Push Hyperinflation” vs “Demand-Pull (non-hyper) Inflation.”
The "no income --> no inflation"-thesis is as wrong as the "price control --> inflation control"-thesis.
Don't TRADE gold! You might lose your shirt in the biggest bull run ever. That would be embarassing. © possibly by Swampy
Posted Image
Gold, silver, property, currencies, commodities charts.

#28720 Errol

Errol

    Millennium man

  • Members
  • PipPipPipPip
  • 1,379 posts
  • Gender:Male

Posted 29 February 2012 - 05:37 PM

(1)'Please keep in mind that this is not a dress rehearsal but rather the real thing. There is no practical means to handle the problems at hand. We are at the dead end of the road the can has been kicked down.'

This is not ramping. I see no incompatibility with the above statement to falling prices. The closer we get to total meltdown the more TPTB will try and control the gold/silver prices. I believe this is 'the real thing' but still expect savage price drops (and rises) - i.e. volatility.

(2)Volatility in gold is going to go wild so just keep your head down and hold your insurance close to your chest

Again, this does not imply either prices going exclusively up or down. It says that there will be volatility - i.e. prices moving in both directions in an unpredictable and extreme way. No ramping here. It is entirely consistent with what Jim has been saying for the best part of 10 years.

(3)There's nothing clear-headed and thoughtful in what JS, just bullish nonsense.

Nothing 'clear-headed' in the man who owned the gold market in the 70/80s, has run numerous brokerage/clearing firms and made a gold price call 10 years out that missed in price by a few months only? Really?

As Client Eastwood would say, 'Do you feel lucky?' ...

(4)What a BS artist

See my response in (3). Really?

(5)You have to stand on your head to see a $60 drop in what he said

Not at all. See my response to (1). Volatility implies savage moves both ways - something that Sinclair has been taking about for years. Nothing inconsistent here. In any event, these sorts of moves are only an issue for traders.
Want to get paid for polls? Try YouGov




0 user(s) are reading this topic

0 members, 0 guests, 0 anonymous users