Gatesy Posted September 17, 2008 Report Share Posted September 17, 2008 After a pause for breath she's off again ! Link to comment Share on other sites More sharing options...
nicejim Posted September 17, 2008 Report Share Posted September 17, 2008 Now today is what a rocket should look like... I guess this is about the little FED IS BROKE story on Bloomberg? I saw that on ft.com http://www.ft.com/cms/s/0/271257f2-83f1-11...?nclick_check=1 but it's from yesterday, updated today. Is this monetisation? Link to comment Share on other sites More sharing options...
wren Posted September 17, 2008 Report Share Posted September 17, 2008 Wow, that rocket was well deserved. Shot up to 833.70 now. Link to comment Share on other sites More sharing options...
narco Posted September 17, 2008 Report Share Posted September 17, 2008 The big one would suggest a move to circa $200....it couldn't... The wee inverted one is the one i have been watching after bubb called the bottom No I think we would be looking more towards the $650 level imo. The PTB have handed my ass to me over the last few months. I've recommended friends and family to by gold who now must be thinking I'm a nut case. With the elections coming soon, I wouldn't want to rule anything out and remain on the defensive side. I'm happy with my stash right now but will only look to seriously add more if the ugly chart plays out. Link to comment Share on other sites More sharing options...
romans holiday Posted September 17, 2008 Report Share Posted September 17, 2008 The charts look terrible, but understandable given deflation in assets, massive deleveraging and a flight to cash .... but the fundamentals are screaming louder than ever. With new nationalizations almost daily, the degradation of the dollar continues.... Deflation in assets may continue, but that will not prevent a currency crisis only hasten it. Link to comment Share on other sites More sharing options...
Gatesy Posted September 17, 2008 Report Share Posted September 17, 2008 Excuse the off topic, but can any interested parties tell me what the hell Norway has done so wrong compared ot the UK in the last week. GBPNOK rocketing too this afternoon. As far as i know Norway have massive surpluses through trading gas. Gas has increased 5% this afternoon as well Link to comment Share on other sites More sharing options...
romans holiday Posted September 17, 2008 Report Share Posted September 17, 2008 It could be as you say RH, still to as fuel to the fire is money from currency panic and add to that money from bond panic. This is what I am waiting for... the mainstream will be caught between a rock and a hard place here with only one way out...... THE BIG SQUEEZE. Link to comment Share on other sites More sharing options...
njpurser Posted September 17, 2008 Report Share Posted September 17, 2008 Preserved for the afterworld: Great chart-we're off to the moon at last!! See you there. Nick Link to comment Share on other sites More sharing options...
G0ldfinger Posted September 17, 2008 Author Report Share Posted September 17, 2008 Now today is what a rocket should look like... I guess this is about the little FED IS BROKE story on Bloomberg? They're not broke. They can't be. They just announced re-enforced printing. Good luck, fiat holders of the world! Link to comment Share on other sites More sharing options...
nicejim Posted September 17, 2008 Report Share Posted September 17, 2008 The spreads on Bullionvault were the largest I think I've ever seen them 30 minutes ago. It's a lot more normal now, and the mass of flickering red and blue has gone. Panic time over? Link to comment Share on other sites More sharing options...
kernull Posted September 17, 2008 Report Share Posted September 17, 2008 the top in the dollar becomes official: "Sept. 17 (Bloomberg) -- The U.S. Treasury said it will sell bills to allow the Federal Reserve to expand its balance sheet, a day after the government agreed to take over American International Group Inc. ``The Treasury Department announced today the initiation of a temporary Supplementary Financing Program at the request of the Federal Reserve,'' the department said in a statement today. ``The program will consist of a series of Treasury bills, apart from Treasury's current borrowing program.'' Link to comment Share on other sites More sharing options...
Magpie Posted September 17, 2008 Report Share Posted September 17, 2008 I saw that on ft.com http://www.ft.com/cms/s/0/271257f2-83f1-11...?nclick_check=1 but it's from yesterday, updated today. Is this monetisation? Basically it implies the Fed is running out of funds. No worries, the Treasury can create the money by selling bills. Except this risks devaluing the dollar massively. Basically this is real money printing, very inflationary. Link to comment Share on other sites More sharing options...
Magpie Posted September 17, 2008 Report Share Posted September 17, 2008 They're not broke. They can't be. They just announced re-enforced printing. Good luck, fiat holders of the world! Same difference though isn't it. They've run out so they'll print some more. Thus devaluing all the existing dollars. I have to admit today is looking more hyperinfltionary than deflationary. I linked earlier to a crazy story suggesting that the US govt might set up a fund to buy toxic securities and exchange them for cash. Which would also presumably have to go on the credit card bill, along with FMx2, AIG and all the rest. Link to comment Share on other sites More sharing options...
wrongmove Posted September 17, 2008 Report Share Posted September 17, 2008 See you up there!!!! +$50 intraday. Holy cr@p. I hope everyone has their physical safely tucked away. Just be careful you don't jinx it with the rocket pictures. They have been a very good contrary indicator so far Have to say that was impressive. If it breaks the last peak (about $840?) on volume, the chart would start to look good again, even to a skeptic like me. Link to comment Share on other sites More sharing options...
romans holiday Posted September 17, 2008 Report Share Posted September 17, 2008 party pooper! Link to comment Share on other sites More sharing options...
wrongmove Posted September 17, 2008 Report Share Posted September 17, 2008 party pooper! That was not my intent. I am just a cautious individual (when it comes to dosh) Link to comment Share on other sites More sharing options...
G0ldfinger Posted September 17, 2008 Author Report Share Posted September 17, 2008 Just be careful you don't jinx it with the rocket pictures. They have been a very good contrary indicator so far Have to say that was impressive. If it breaks the last peak (about $840?) on volume, the chart would start to look good again, even to a skeptic like me. This is not about charts. This is about a global financial meltup. Wake up. Gold and tangibles are the only place to be. They can hold it down only for a very limited time. We've seen nothing yet. Link to comment Share on other sites More sharing options...
romans holiday Posted September 17, 2008 Report Share Posted September 17, 2008 One of the top ten biggest one day moves EVER in gold today. Link to comment Share on other sites More sharing options...
wrongmove Posted September 17, 2008 Report Share Posted September 17, 2008 This is not about charts. This is about a global financial meltup. Wake up. Gold and tangibles are the only place to be. They can hold it down only for a very limited time. We've seen nothing yet. Well, I do not pretend to understand the fundamentals of gold (beyond physical demand), and I very much doubt that leap was due to physical demand - too quick. But the charts seem quite readable, even to a novice like me. I prefer fundamental analysis, but it can't really be applied to gold, in the way I understand it (except for physical demand/supply). Link to comment Share on other sites More sharing options...
romans holiday Posted September 17, 2008 Report Share Posted September 17, 2008 That was not my intent. I am just a cautious individual (when it comes to dosh) Don't get caught in the headlights. Link to comment Share on other sites More sharing options...
HPCSucks Posted September 17, 2008 Report Share Posted September 17, 2008 This is not about charts. This is about a global financial meltup. Wake up. Gold and tangibles are the only place to be. They can hold it down only for a very limited time. We've seen nothing yet. You aren't wrong. This government is digging up everyone with a soothing voice to tell the sheep it's alright. There's nothing wrong. Meantime in desperation the government is ignoring competition and trading laws. We are run by a bunch of incompetent liars. Link to comment Share on other sites More sharing options...
bitbigt Posted September 17, 2008 Report Share Posted September 17, 2008 WHAT THE HELL HAPPENED.... I've been on planes since 7 am this morning, and just got home and checked the gold price Yipee!!!! Someone please tell me what happened - I'm too impatient to read all the websites etc Link to comment Share on other sites More sharing options...
wrongmove Posted September 17, 2008 Report Share Posted September 17, 2008 Does anyone know? usdx has done naff all. Big buyer, I guess. Link to comment Share on other sites More sharing options...
wrongmove Posted September 17, 2008 Report Share Posted September 17, 2008 From Reuters: "Gold climbs nearly 7 pct on safe haven buying, oil Wed 17 Sep 2008, 13:56 GMT LONDON (Reuters) - Gold rallied nearly 7 percent on Wednesday to a two-and-a-half-week high of $830.10 an ounce, as a wave of risk aversion triggered buying of the precious metal as a safe haven and oil prices climbed. Traders say losses among investment banking stocks and doubts about the government's rescue of insurer American International Group have sparked a flight to safety. AIG's share price was down 41.33 percent at 1451 GMT while spot gold was trading at $826.70/827.80 an ounce at 1451 GMT, up from its nominal New York close of $775.55 an ounce." Link to comment Share on other sites More sharing options...
LauraB Posted September 17, 2008 Report Share Posted September 17, 2008 FED there HBOS here About as deep as I go (& all for BigT ) Link to comment Share on other sites More sharing options...
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