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About G0ldfinger

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    Tri-Millennium Guru

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  • Location
    Fort Knox
  • Interests
    Hoarding gold.

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  1. G0ldfinger

    Do Renters Die Poor?

    There was an article on this topic in DER SPIEGEL recently. People remarked that renters might save less but have better lives as they spend their money and have fun, rather than starving themselves to pay off the mortgage and then pass on a huge amount of money (in the form of a house) to some nephew of 2nd degree when they croak. So, maybe richer in monetary terms, but poorer in life experience and satisfaction? Just a thought... (and a German perspective as renting is a much better thing in Germany than in the UK).
  2. G0ldfinger


    Good to see a few familiar avatars around! Still holding all my gold and silver and adding to it every now and then. The wait has been long, so a little up-move in the metals would be nice to see. But I am very patient, and one has to be, it seems.
  3. G0ldfinger


    Interestingly, Dan Norcini is not at all bullish on silver: Agressive Hedge Fund Selling Plagues Silverhttp://traderdannorcini.blogspot.de/2014/08/agressive-hedge-fund-selling-plagues.html
  4. G0ldfinger


    It seems that we are contrarians here: http://www.bloomberg.com/news/2014-08-25/gold-drops-toward-two-month-low-as-silver-slips-to-10-week-low.html
  5. G0ldfinger


    I sorta nailed this one back in the days: I think the jury is still out on this one: These are indicators that silver will outperform gold, and I think gold's resurrection is only a question of time given none of the deeper financial issues in Europe (and elsewhere) have been resolved. Call me Silverfinger!
  6. G0ldfinger


    http://gold.approximity.com/gold_charts.html http://gold.approximity.com/since1885/DJIA-Gold-Ratio_Q_LOG.html http://gold.approximity.com/since1885/Gold-Silver-Ratio_Q.html
  7. G0ldfinger

    Palladium ready to run.

    $860 was the top in Feb 21, 2011 (apart from the 2001 spike). We're over 872 right now. MAJOR outbreak IMHO.
  8. G0ldfinger


  9. G0ldfinger


    See you up thereeee!
  10. G0ldfinger


  11. G0ldfinger


    Further to Igglepiggle's growing imbalances and ALK's criticism of my thinking that QE is here to stay. ALK, don't you see how QE is becoming engrained into the system and how we are slowly getting used to it? Those people who bought your NZ house or who are buying houses in the UK, US or Germany right now, they enjoy ridiculously low interest rates. Fine if they're fixed, but most of them are not. They take on a ginormous mortgage fixed for 5 years or so, and then you think they would be able to cope with, say for starters, triple the rates when the Fed stops QE? Also, the deficit in the U.S. has been reduced by sequestering, but this is a drag on the economy. Meanwhile the Fed has until recently monetized that whole deficit! So, do you really think they will start paying down debt soon, or at least keep it constant? No, again, QE will become accustomed to as the new normal. It's like NuLabour made sure that all the UK's debt was paid back during the boom years - oh, wait, it wasn't! Great surprise!! Read that famous book on the French hyperinflation following the revolution. It's appaling how history does not just rhyme, but seemingly repeat itself right here right now. Only, as I said, this thing is big, like a supersized super-tanker, so it will take off slowly.
  12. G0ldfinger


  13. G0ldfinger


    What is the inflation rate at the time? What are interest rates doing? Who is the Fed Chair(Wo)man? Is it bail-ins or bail-outs, or both? What is MZM doing? What is money velocity doing? How is the US/Europe/China/Japan doing? How easy is credit? How are commodities like food and energy doing? One way of getting out could be to slowly turn gold into cheaper hard assets at the time (property, general stocks), but (if paper markets are still functioning) to speculate in long options to potentially cover any ridiculous spike-ups in the gold price, while keeping some bullion for SHTF liquidity reasons.
  14. G0ldfinger


    Here is where I am at: I have been somewhat surprised by the amount of time the central bankers have been able to buy with their hyperinflation of the monetary base (yes, just tripling it nilly-willy is HI in my opinion). On the other hand, as the likes of Prechter or our very own ALK simply do not grasp that the "deflation" they want to see (even ALK's house in the tundra went up in price over the past years - I'd call that INflation...) is there because of historically low money velocity and because of a certain unwillingness of banks to function as multipliers, this makes sense. For now mass psychology still is in favour of deflationary thinking while the fundamentals lean to the opposite. Fundamentals will - as always - win in the end and velocity will go back to normal and potentially way beyond normal, but it might take a while. The recent gold correction has an almost perfect historic blueprint in the 1974-76 sell-off (only, the fundamentals today are so much better for gold). So, people like Prechter or our very own ALK, who now expect gold to drop to USD 200, will most likely have to eat their hats (if they still own any at the time in question). I hope the traders have been able to trade this, and I hope the investors don't worry - just like me: I have not sold one ounce for divesting out of PMs. I still mostly hold physical gold and silver bullion, but increased gold & silver stock investments during the past two years (so far at a loss). As Igglepiggle points out: the imbalances are growing thanks to the printing presses. He is also right in pointing out that all major fiat currency turds are floating in the same bowl at roughly the same speed. That's why the golden life boat seems less necessary, but of course that's an illusion which will sooner or later disappear (and ALK will wake up and try to buy what by then will be unobtainium). Gold, like other assets, is forward looking when things get rough. The greatest increase in actual value might come (just?) before a large currency collapse or price inflation spike. "You got to be in it to win it." Recent developments in the LBM and the COMEX may be signs that the bottom has been reached and that some major players are in the process of repositioning themselves on the other side of the trade. So, Sinclair's prophecy might come true that in the end the former gold dumpers will make the most profit on the upside. Finally, I have never predicted the end of the world. The financial world as we knew it, however, ended in 2007 and we are sliding deeper into some sort of financial doom (which is entirely normal and happens quite often historically). It is so slow, however, that some (like our very own ALK) are not able to see it. This is to be expected. Further, I see no reason why gold could not be beyond USD 10,000 and the supermarket still be (a-okay) stocked. In fact, I sincerely hope that this will be the case.
  15. G0ldfinger


    Semper ad hominem, numquam ad rem.