Jump to content

Recommended Posts

JAPAN did not get all the Chinese Gold (it got hidden "elsewhere"):

 

Michael Salla has an article out on the lawsuit

http://exopolitics.org/Study-Paper-13.htm

 

Rayelan Allen has commented on this at:

http://www.rumormillnews.com/cgi-bin/forum.cgi?read=227693

EXCERPT

Whatever the total value of gold acquired during the millennia of China’s dynastic rulers it is reasonable to believe that much of it was successfully hidden from Japan, and subsequently taken out of mainland China by the Kuomintang prior to the Communist takeover in 1949. According to Benjamin Fulford (the former Asia bureau chief for Forbes Magazine from 1998-2005 before he became a spokesperson for the Dragon Family in 2007) the gold transfer was secretly conducted by the U.S. Navy which in 1938 took possession of the gold via seven destroyers to the U.S. mainland. [6] These events occurred in conformity with the 1934 Gold Act and President Roosevelt’s 1933 Executive Order (6102) which prohibited private ownership of gold, and instructed private citizens to sell all their gold to the Federal Reserve Bank at a prescribed rate of $20.67.

 

Here is how the lawsuit describes the actual transfer of the gold and roles played by the U.S. Federal Reserve and the U.S. Treasury in issuing the financial instruments that were eventually seized near Chiasso, Switzerland:

 

… following the promulgation in 1934 of the Gold Reserve Act, the law required all bullion gold and gold coin to be surrendered to the Federal Reserve … Foreign Gold held by the Treasury was also surrendered to and thus leased to the Federal Reserve, which resulted in the issuance of the series of 1934 Notes by the Federal Reserve. These Dragon Family FRNs have never been redeemed and, upon information and belief, the accrued interest was met by the subsequent issue of certain 1968 series of Kennedy Bonds

Share this post


Link to post
Share on other sites

Gold is at an interesting point technically, with the 50/200 DMA about to cross, spot gold just leapt above both.

goldcross.jpg

 

Just 10 more dollars, it could explode upwards. Not over yet though, methinks.

gold1h.jpg

Check the volume !

Share this post


Link to post
Share on other sites

Check the volume !

But there is no official volume for gold; and I don't like usng the GLD volume as a proxy when it isn't gold. My best guess at volume might come from am/pm fixing divergences. Any other ideas?

 

Dealer spreads on coins?

Dealer spreads on 1Kg bars?

Share this post


Link to post
Share on other sites

But there is no official volume for gold; and I don't like usng the GLD volume as a proxy when it isn't gold.

Looking at GLD for gold volume is as if you asked someone like Lindsay Lohan about the state of general business affairs in Hollywood, and then you based your whole investment strategy on it. Oh gee...

Share this post


Link to post
Share on other sites

Looking at GLD for gold volume is as if you asked someone like Lindsay Lohan about the state of general business affairs in Hollywood, and then you based your whole investment strategy on it. Oh gee...

 

Hah hah. Good one.laugh.gif

Share this post


Link to post
Share on other sites

Looking at GLD for gold volume is as if you asked someone like Lindsay Lohan about the state of general business affairs in Hollywood, and then you based your whole investment strategy on it. Oh gee...

 

Volume of GLD is rather associated with the weak hands that trade in and out of gold. I think it can give information on the short term price movement but has little to do with the long term trend. All in my humble opinion, of course.

Share this post


Link to post
Share on other sites

I have a question. Say you had a pile of gold accumulated over the past 5 years, and you know you need to sell 70% of it by Sep 2012. Not selling isn't an option - need the cash to buy a farm out in the hills (not in the UK I might add).

 

Would you sell now, or wait until summer?

Share this post


Link to post
Share on other sites

I have a question. Say you had a pile of gold accumulated over the past 5 years, and you know you need to sell 70% of it by Sep 2012. Not selling isn't an option - need the cash to buy a farm out in the hills (not in the UK I migt add).

 

Would you sell now, or wait until summer?

 

If you definitely need to be out of 70% of your position why not sell a little bit each month? I'd probably go for selling a definite amount of gold each month rather than selling for a definite amount of money each month. Thus, you probably won't be hitting the top between then and now, but you will also avoid the risk of having to sell at the bottom.

 

Obviously you could also look at seasonality factors, technical analysis and so on but selling gradually might be the most convenient option, especially if you sit on profits anyway.

Share this post


Link to post
Share on other sites

If you definitely need to be out of 70% of your position why not sell a little bit each month? I'd probably go for selling a definite amount of gold each month rather than selling for a definite amount of money each month. Thus, you probably won't be hitting the top between then and now, but you will also avoid the risk of having to sell at the bottom.

 

Obviously you could also look at seasonality factors, technical analysis and so on but selling gradually might be the most convenient option, especially if you sit on profits anyway.

 

That sounds like a very sensible plan! Thanks.

Share this post


Link to post
Share on other sites

That sounds like a very sensible plan! Thanks.

 

Then there's your capital gains tax liability if applicable...here in the UK, anyone selling would be better off using up their allowance for the current tax year (ends April 5th)

Share this post


Link to post
Share on other sites

Ignoring the tax question, averaging out, so to speak, spreads the risk, downside and upside, over the period up to September. It's really just like the other way round, if you wanted to buy. My gut feeling tells me that prices should be much higher by September (I wouldn't even be shocked if prices doubled), but betting your farm on it (literally) is short term speculation and something I generally wouldn't do.

 

EDIT: Some of the trader types on here might give you more specific advice, e.g. based on GLD volume (where's my Lohan pic for that one...). Maybe they would encourage you to spend a fortune on puts (mind the counterparty risk, though!!!).

Share this post


Link to post
Share on other sites

Ignoring the tax question, averaging out, so to speak, spreads the risk, downside and upside, over the period up to September. It's really just like the other way round, if you wanted to buy. My gut feeling tells me that prices should be much higher by September (I wouldn't even be shocked if prices doubled), but betting your farm on it (literally) is short term speculation and something I generally wouldn't do.

 

This is what was at the back of my mind - we will see QE3 this year, which will push up the price quite a bit. How silly will I feel if it's at $2500 in Sep and I've already sold most of it.

 

But I guess my focus should be on achieving my main goal.

Share this post


Link to post
Share on other sites

Does the Farm need to be purchased NOW?

 

I hope I am not faced with such a question and the decision that needs to be made now about selling gold.

Share this post


Link to post
Share on other sites

[...] How silly will I feel if it's at $2500 in Sep and I've already sold most of it.

 

IF the price is really going to be at $2500 in September (let's face it: nobody knows) then you will likely have sold into a rising trend, and you're average selling price will be between $2500 and what it is now. Not exactly the top but not bad either I'd say.

 

But I guess my focus should be on achieving my main goal.

 

I fully agree.

Share this post


Link to post
Share on other sites

Does the Farm need to be purchased NOW?

 

I hope I am not faced with such a question and the decision that needs to be made now about selling gold.

 

It doesn't have to be, but that's what would work best for us.

Share this post


Link to post
Share on other sites

It doesn't have to be, but that's what would work best for us.

Ah. In this case, you could let gold decide when it has to be...

Share this post


Link to post
Share on other sites

Ah. In this case, you could let gold decide when it has to be...

 

I don't really want to put my life on hold in that way, have things I want to achieve. We've started down a path which leads us to a particular point. It's no set in stone, but it's a path we want to follow.

 

I think I'll sell in stages, maybe starting in a month or so, and see how its looking later in the year.

Share this post


Link to post
Share on other sites

I don't really want to put my life on hold in that way, have things I want to achieve. We've started down a path which leads us to a particular point. It's no set in stone, but it's a path we want to follow.

 

I think I'll sell in stages, maybe starting in a month or so, and see how its looking later in the year.

 

Forgive me but unless you are paying for the farm with gold, why not borrow as much of the future junk currency as possible?

Share this post


Link to post
Share on other sites

I can't properly download the latest FSN shows. They always stop downloading after a few MB. Anyone the same problem?

Share this post


Link to post
Share on other sites

Forgive me but unless you are paying for the farm with gold, why not borrow as much of the future junk currency as possible?

 

Oh I fully intend to leverage the hell out of this purchase - but it's a big farm, and I can only borrow so much!

Share this post


Link to post
Share on other sites

Oh I fully intend to leverage the hell out of this purchase - but it's a big farm, and I can only borrow so much!

Taking on debt may not be such a good idea if farm prices deflate, markets dry up, and money becomes more scarce.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

×