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Any thoughts or help to over to JD?

 

If its ok, can I ask for some UK centred money advice please. Our house is going onto the market this month, later than I had always planned, but held up for reasons outside of my control. It represents 95% of our retirement funds, so it is very important I don't cock this up! We have decided not to look for a down-sized replacement until the current house is sold, so that we can be cash buyers.

 

Looking ahead, upon completion, for obvious reasons I am determined to transfer the entire sum out of the solicitor's client a/c the same day. I will spread some around into UK bank a/c's up to or less than the FSA guaranteed level in each, but where do I put the rest? Bullionvault? Goldmoney? Elsewhere? We will probably buy physical with any remaining cash, but at first it has to stay liquid and accessable as we want to get the 2 kids sorted with a house each as well.

 

Thanks in anticipation of any replies.

 

If you want to move this elsewhere good Dr, I will quite understand.

Link: http://www.greenenergyinvestors.com/index.php?showtopic=16483

 

(Please post responses, if any, on that thread... and maybe here too, if Gold related)

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Comex Gold Ends Sharply Lower as Bernanke Disappoints; Bulls Lose Technical Momentum

 

Thursday June 07, 2011 2:26 PM

 

Comex gold futures prices ended the U.S. day session sharply lower Thursday and dropped below what was psychological support at the $1,600.00 level. The yellow metal careened lower following Federal Reserve Chairman Ben Bernanke's speech to the Joint Economic Committee of the U.S. Congress. The gold bulls quickly lost their newfound technical momentum. August gold last traded down $43.20 at $1,590.80 an ounce. Spot gold was last quoted down $30.20 an ounce at $1,590.00. July Comex silver last traded down $0.893 at $28.60 an ounce.

 

Bernanke said the U.S. is facing economic headwinds, especially due to the European Union debt crisis, but offered up no specifics on any fresh monetary stimulus package to promote more economic growth. The restrained tone of Bernanke's speech disappointed gold market bulls who wanted immediate gratification on economic stimulus. However, Bernanke at this time holding his cards close to his vest on the matter did not surprise most market watchers--many of whom still reckon the Fed will at some point down the road provide fresh monetary policy easing.

 

The “Bernanke bust” overshadowed several significant market place developments that occurred earlier Thursday, led by news China has cuts its interest rate by 0.25% in an effort to stimulate its economy. The surprise move by China is a bullish factor for most raw commodity markets, as China is a major raw commodity consumer.

 

In other news Thursday, the French unemployment rate was reported at a 13-year high, while Greek unemployment was reported at record high of 22%. European stocks are firmer Thursday and Spanish bond yields have fallen after a well-received Spanish bond auction Thursday. Meantime, the Bank of England left its key interest rates unchanged.

 

The U.S. dollar index traded lower again Wednesday on more profit-taking from recent gains. The dollar index bulls still have the overall near-term technical advantage. Meantime, Nymex crude oil futures were higher Thursday on more short covering in a bear market. Crude oil remains in a bearish overall fundamental and technical posture.

 

The London P.M. gold fix is $1,606.00 versus the previous London P.M. fixing of $1,635.00

 

/more: http://www.kitco.com/reports/KitcoNews20120607JW_pm.html

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I love listening to all the talking heads on Dominik Frisbys show. Do these people ever look at the charts. I mean really.

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I love listening to all the talking heads on Dominik Frisbys show. Do these people ever look at the charts. I mean really.

Which Specific comments bother you?

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http://www.silverdoctors.com/ned-naylor-leyland-reveals-actual-owner-of-bob-pisanis-gld-gold-bar/

Ned Naylor-Leyland Reveals Actual Owner of Bob Pisani’s GLD Gold Bar!!

 

.... You’ll remember that amazing video interview with Bob Pisani that CNBC ran where they went into GLD’s vaults in London- I’m sure you saw that Doc. You know they took his mobile off him and he ended up in the vaults and he held up this bar and he said ‘this is the kind of thing that GLD holds custody for you!’ And then immediately everyone jumped all over it and said ‘wait a minute, that bar isn’t on the bar list!’

 

... About three weeks after it happened, I happened to have ETFS (EFT Securities), which is another ETF product company come into see me at Cheviot. Quite why they wanted to pitch a gold ETF to me is anyone’s guess because they should have known that it wasn’t exactly going to be a success, but we had an interesting chat, and I brought up some problems with ETF’s, and I mentioned this video to them and I asked them whether they’d seen it. They said no, they hadn’t, but that sounded quite interesting, could I forward it on?

 

So I forwarded that to them and said ‘I’m very interested to have comment from you on what you think about this’.

 

I got an email back which stated ‘That was interesting, and what’s even more interesting is IT’S OUR BAR!’

 

.... the gold bar held up by Bob Pisani who was supposedly standing in the GLD’s vault is ACTUALLY OWNED BY ANOTHER ETF, ETFSecurities, and the implications considering the GLD’s prospectus allows for gold swaps, and Harvey Organ’s research incidates the GLD’s gold is swapped/rehypothecated from the Bank of England!!

*Furthermore, bar# ZJ6752 has been confirmed as a bar on the EFTS’ gold bar list:

http://www.etfsecurities.com/msl/bar_list.zip

In XLS go to tab GBS Gold, then scroll to row 8706.

 

Can you say gold rehypothecation?

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A telling difference

 

GLD-in-Euros ran up too fast into that 6/01 high of EUR 127.48, & a higher high of 128.10 a few days later.

It has been correcting since then

 

Chart

gldinfxe.png

 

The bulls (like me!) will want to see GLD-in-FXE punch through that nearby resistance level with higher-than-average volume

 

An interesting point is that GLD/Gold-in-Euros is not far from its alltime high.

 

Comparison : ThePeak : Latest : Difference

==========

Gold-in-USD : 1923.70 : 1610.40 : - $313.30 / -16.29%

GLD-in-USD : $ 185.85 : $ 156.46 : - $ 29.39 / -15.81%

GLD-in-FXE : E.133.80 : E.125.79 : - E 8.01 / - 5.99%

 

It is only 6% away from the Peak, while Gold or GLD is 16% away from the peak

 

A retest of the Gold-in-Euros peak (or even the Red line) with light volume, could be following by a renewed slide.

If stocks begin to selloff heavily again, Gold is not necessarily immune, especially if the dollar continues to strengthen

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So, euro bailout talks are now considering a "Redemption Pact" which "covers all public debts of EMU states above the Maastricht limit of 60pc of GDP, roughly €2.3 trillion".

 

Reading further, this caught my eye :-

 

Italy and other states would have to pledge gold and other forms of collateral equal to 20pc of their debt in the fund.

 

"The assets could be taken from the country's currency and gold reserves. The collateral nominated would only be used in the event that a country does not meet its payment obligations," said the proposal.

 

Prospects for gold off the back of that suggestion? The fact it's even being suggested (and by Germany at that) would seem to cement the safe haven status?

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I just wish they'd revalue gold to C20,000 ASAP and we'd be off to the races again.

Wondering here if you are buying gold for less than the best reasons.

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Wondering here if you are buying gold for less than the best reasons.

What are the "best reasons"for buying gold, I wonder?

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What are the "best reasons"for buying gold, I wonder?

Here are mine:

 

Portable wealth.

Out of the system (means testing, etc..).

Sleep easy at night.

Unstable taxation systems.

Rigged equity and bond markets.

It's Cheap!

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Here are mine:

 

Portable wealth.

Out of the system (means testing, etc..).

Sleep easy at night.

Unstable taxation systems.

Rigged equity and bond markets.

It's Cheap!

 

It's not fiat.

 

 

 

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It's not fiat.

It's a non-sovereign currency. But that could change easily with the re-introduction of a gold standard, where it would be a super-sovereign currency once again. There's no 'natural' money. In a more 'natural' state you just have barter. Money per se is fiat.

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Gold Will Be Top Performer in 2012 - UBS Poll Of 8 Trillion USD Official Sector

 

Submitted by Tyler Durden on 06/15/2012 -

 

More than 80 institutions with collective assets under management of over $8 trillion attended the event and were polled regarding macroeconomic matters and their outlook for various asset classes. Gold is seen as one of the assets likely to outperform again in 2012 due to risks posed to the euro and longer term risks for the dollar. Those polled by UBS were also positive on emerging market debt. Both asset classes, gold and emerging market debt, were the top pick of 22.5% of the assembly – thereby accounting for 45% of the votes. On gold’s role as a reserve asset, the importance reserve managers attach to the yellow metal has slipped back to 2009 levels, with about 14% having the opinion that it will be the most important reserve currency in 25 years. This marks a decline from the past two years’ surveys wherein over 20% viewed gold to be the most important reserve currency

 

/more: http://www.zerohedge.com/news/gold-will-be-top-performer-2012-ubs-poll-8-trillion-usd-official-sector

 

I'm not sure if this is bullish or bearish.

If they really believe what they say, they may be long already. If so, who is left to buy ?

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It's a non-sovereign currency. But that could change easily with the re-introduction of a gold standard, where it would be a super-sovereign currency once again. There's no 'natural' money. In a more 'natural' state you just have barter. Money per se is fiat.

 

The fact that it is non-sovereign is one of it's virtues. It means it has been chosen by the people; the trading public, not the dictators.

And gold IS money; it is the most natural form of money - that of a medium of exchange. Do not make the mistake of confusing Money for Legal Tender.

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And gold IS money; it is the most natural form of money - that of a medium of exchange. Do not make the mistake of confusing Money for Legal Tender.

Anything can 'be' money... or more strictly, used as money [its basis is functional... the abstraction comes later]. Money itself is just an idea, and then the various forms it takes in the real world are currencies.

 

The fact that it is non-sovereign is one of it's virtues. It means it has been chosen by the people; the trading public, not the dictators.

A currency is an institution, and institutions create order out of chaos. There would be no trading public, no markets without institutions. They are the condtions which make civil life possible [just been reading Vico :rolleyes: ]

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http://www.silverdoctors.com/harvey-organ-gold-rehypothecation-comex-the-lbma-gld-the-bank-of-england-its-one-inventory/

 

Gold Rehypothecation- COMEX, the LBMA, GLD, the Bank of England- IT’S ONE INVENTORY!

 

.... In this explosive interview, Harvey discusses the cartel’s re-hypothecation of physical gold bullion, and documents how the bullion banks are running a shell game by re-hypothecating/ swapping/ leasing Arab investors’ gold bullion deposited at the Bank of England to the GLD and other ‘gold depositories’.

 

‘Essentially the GLD vaults hold physical gold metal, but it’s not owned by the GLD. It has to be re-swapped back to the Bank of England. The Bank of England has basically swapped the gold to the GLD, and it’s not even the Bank of England’s gold, it’s Arab investor’s gold! It’s an obligation on the part of the Bank of England to get it back! This goes along with the whole hypothecation/ rehypothecation story of MF Global. The same ounces of gold are going from one place to another to another.

The COMEX, the LBMA, the Bank of England- it’s ONE INVENTORY!! It serves three masters, and the fun begins when they all want it back!‘

 

Harvey Organ’s explosive FULL AUDIO INTERVIEW on JP Morgan’s interest rate swaps crisis and cartel gold rehypothecation is below:

 

Part 1: JP Morgan Unwinding IR Swap Book

Part 2: GLD Gold Rehypothecation

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GOLD at Risk of Major Drop Before the Final Bull Market Cycle Rally Begins

 

Thursday June 21, 2012 11:15

 

Gold has been busy consolidating in what I believe will be a 13 Fibonacci month Primary wave 4 correction. The Gold bull market I’ve been following since 2001 is a likely 13 year bull cycle that will end in 2013 or 2014 depending on how you count. This current correction pattern is working off a 34 Fibonacci month rally that took Gold from 681 to 1923 at its ultimate highs. Last fall I warned about the parabolic run likely ending in the 1908 ranges and for investors to position themselves accordingly.

 

Today we have Gold trading around 1600 and our recent forecast in May was for a rally into Mid June topping around 1620-1650 ranges in US Dollars. The intermediate forecast still calls for a possible drop to 1445-1455 ranges this summer, the same figures I gave out on TheStreet.Com interview last September for a Primary wave 4 low.

 

Only a close and a strong move over 1650 will eliminate the downside risk in my opinion.

 

jun212012_1.jpg

 

/more: http://www.kitco.com/ind/Banister/20120621.html

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http://news.goldseek.com/GoldenJackass/1340820786.php

CHINA RECASTS GOLD BARS

 

.... The Chinese are removing thousands of metric tons of gold bars from London, New York, and Switzerland. They are recasting the bars, no longer to bear weights in ounces, but rather kilograms..... It seems patently clear that the Chinese are preparing for a new system for trade settlement system, to coincide with a new banking reserve system. They might make a sizeable portion of the new 1-kg bars available for retail investors and wealthy individuals in China.....

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Just pulled the rock back from over the hole to load up the truck!

 

Long & Strong people - you know it makes sense.

 

Try not to stress -it has been and is going to get even messier.

 

I'm ~95% out of the banking system, feel much better for that.

 

Take it easy all,

 

SafeBetter B)

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REMEMBER THIS ??

 

on April 22, 2012 Forbes reported China would begin purchasing oil from Iran in gold on June 28, 2012 bringing a de facto end to the US Dollar as the world’s reserve currency. In response, world renowned Gold analyst Jim Sinclair stated:

 

Dear CIGAs,

 

The implications of China paying for Iranian oil in gold is the most important event in the modern history of gold

 

1. It is reasonable to assume that China has been threatened with total or at least selective exclusion from the SWIFT system if it pays in any currency for Iranian oil.

 

2. Gold has been decided by China as the means of making payment for massive international purchases free of the SWIFT system.

 

3. Other Asian and Middle Eastern nations will now see the gold they hold as money free of Western economic interference.

 

4. Gold now is not only money free of liability, but also free from interference regarding settlement by the long arm of Western influence.

 

5. The SWIFT system is becoming ever more a weapon of Western international political will.

 

6. In case of war anywhere, it is now demonstrated for all to see that only gold will buy the materials required. Paper currencies are under the SWIFT system’s control in settlement.

 

7. Far from being a barbaric relic, gold is now clearly the money of state survival in every sense.

 

8. It is reasonable and possible for the supply of physical gold to fall far behind the size of the massive short positions now common to algorithm and hedge fund paper shorts. That will make an effective cover at a reasonable price as compared to a certain day’s close impossible the following day on an exogenous event.

 

9. It may not be possible to use TA of any nature to determine a price of overvaluation for gold. Should the USA decide to take on China in full out economic war with the physical market totally illiquid, such as through isolation from the SWIFT system, consider the gold price that might result.

 

Make up your own mind.

http://golden-rule.org/2012/06/29/on-green-light-the-event-and-drake/

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Gold's LOW - May Be in place ...

 

(from DrB's diary, in case you havent seen it yet):

 

Gold / GLD is still in a medium-term Triangle formation

 

I reckon it needs to break above

KEY RESISTANCE at: HK$1,225 / $158 / $1,630

A BREAK of the Resistance may make this Fractal become the defining pattern

 

gldweek2.gif

 

The last leg down looks more "stretched out" this time

 

As for the Gold Miners, it would be hard to find more Bearish sentiment than this

 

gdmp.png

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