frizzers

There is a lot of support just above $16

No, there was one that people posted various conspiracies on ... It was older than that by a few months

There was a thread on gold conspiracies a while back, but I can't find it.

Can anyone post a link to it?

Thanks in advance.

Gold is another currency and is best seen as such.

We could easily see the gold price slide in USD but rise in sterling , for example.

Got that one wrong ...

for now

Silver to gold ratio:

Silver in sterling, retesting the old highs.

Massive double top or reverse head and shoulders?

Thanks to those who emailed me about Ascot. I know the company and own shares.

I have also participated in this deal.

On the upside you are buying gold at 20% discount. On the downside, there is a problem with one of their mines and they are late on delivery, or, worst possible, the company falls apart and you lose everything. That is the gamble.

Free markets are anarchic. In anarchy people dont need to borrow to get what they want they just take it. And if they cant take it they hope to destroy what the other person possesses.

In anarchy people behave because responsibility is shifted from the state to the individual. Infiinitely more crime - and a crime on a greater scale - have been committed in the name of order, than the name of disorder. You don't seem to get the main thrust of the argument which is that we have to take the power to issue currency away from the state. It doesn't matter what gets used as money - anything can and should be money, even paper promises and credit - as long as the State doesn't have the power to issue promises and the free market ie individuals are free to choose what they accept as payment. Promises issued on a definite asset such as you describe would be acceptable to some. FRB doesn't work like that. But the chances are in a free market environment the money that works best is gold and other metals

Don't really understand your point. The system of credit you describe seems fine. Couldn't facilitate of war of WW1 proportions though.

It is not suggested that a gold standard prevents wars. So why are you suggesting it was?

It says if gold was money - not paper or gold standard, gold itself - if there is no fractional reserve banking, and govts do not have the ability to issue currency, then wars on the SCALE of WW1 could never have happened.

Then you say the English came off the gold standard to pay for the Nap wars and then struggled to get back on. That's just the point. If gold was money they could not have even funded the Nap war.

no probs

 

did he say it when speaking at the University of Texas in 1927

 

http://moneymyths.org.uk/episode2.html

 

some more quotes by bankers

Both excellent - do you have dates for either?

Hi Lowrent,

I meant to say thank you. I used the GBShaw quote from your signature in my essay. I found it thanks to your sig. I would have used the Stamp one too, but there is some doubt as to whether he actually said it or whether it was attributed.

It's a bit like like that great quote that Napoleon is said to have said, 'Never ascribe to malice that which can be explained as incompetence'. But did he actually say it? If so when and where?

Anyway - good sig

CC

PS There will always be was while governments are in charge. But if they don't have the power to print money then sheer economics will reduce the scale of these wars.

Thanks for all your positive comments, chaps.

Will be quoting that squirrel skins one and also looking into that stone age book

Have signed up for the petition.

Thanks for your enthusiasm Steve N

Excellent podcast.

 

Have a copy of it with you, the next time you are on Edge TV?

 

 

No. 42, as well. The solution to the universe's problems could be solved with the right money system.

Haha. Quite right.

And I hadn't noticed the 42 thing. Good observation.

Thanks for the comments, everyone. I wasn't sure if it work as a podcast, but I think it does.

I should be able to read well - it's what I do for a living after all.

Should be working properly now.

A Reading by Dominic Frisby of his essay on gold for The Idler Magazine .

Something A Little Different. Enjoy.

http://commoditywatch.podbean.com/2009/07/...-free-and-idle/

http://idler.co.uk/

Download Essay

Why_Gold_Is_the_Currency_Of_The_Idle_and_Free.pdf

I recall a cwr podcast from earlier this year where you were considering advising a friend to buy gold with his 15k GBP savings. You mentioned that usually this wasnt a good idea when gold was breaking to new highs in GBP but that the future of the UK/Sterling were so bleak that it made sense in this case.

 

Does this advice still hold in your opinion? Or has new information shaped your view to something different.

 

Also with regard to your recent moneyweek article would you really seek the exit in gold if we got below £500? I was pretty surprised at that. I had imagined £450-500 gold would be a buy with both hands situation.

 

Thanks for the great work.

 

Cheers

I see £450 as a key level of support and if that is broken I would consider the exit. If it holds it may mark a buy.

I think everyone one should own some gold if they don't have any.

Hmm. Too much bullish sentiment about still.

All that Head & Shoulders talk looks like it was a load of old toot now. I wish I'd got out in March - can't believe I couldn't see the wood for the trees. If this looks like going any further down in GBP I am going to seriously consider pulling out and taking my (now quite small pile of...) profits with me.

Hmmm. Head and shoulders needs to test 860 imo before it is complete. But we are close to buy in sterling. Can't get a longer-term chart but 52 week moving average, blue line, usually marks an entry:

I don't have a dog unfortunately. But the foxes are so common and unafraid round here now it's astonishing.

Another tactic is, I am told, to pee nearby but it doesn't really seem to work.

Gold really needs to break $1000 and stay there now.

I am concerned that it is going to stall there again , which will mean an ugly 3 top in the chart.

I too keep chickens in my garden in Wandsworth..

We always have foexes around so I am wary about letting them run free during the day.

I have two in an eglu which I have had for about six years. One of mine has turned broody too and has barely emerged from her nest for weeks.

On the subject of the head and shoulders pattern in gold :

a head a shoulders pattern usually signifies a reversal. A head and shoulders top, for example, might come at the end of a long uptrend.

Similarly an inverted h and s will come at the end of a long down trend.

This inverted h and s in gold has come after an UPtrend , so it is not an exact technical set up.

http://www.chartpatterns.com/headandshoulders.htm