HPCSucks Posted September 17, 2008 Report Share Posted September 17, 2008 Mark that comment, you may be right. I won't dare guess whats about to blow. Martial law in the US by year end is my guess. Link to comment Share on other sites More sharing options...
G0ldfinger Posted September 17, 2008 Author Report Share Posted September 17, 2008 We're witnessing the financial equivalent of a few nukes blowing up on Wall Street. Forget dotcom or 9/11. That was peanuts. Link to comment Share on other sites More sharing options...
horse Posted September 17, 2008 Report Share Posted September 17, 2008 SORRY - I NEED TO CHANGE AND CLARIFY THIS.... I just noticed you referred to a "leveraged" silver ETC. That places it in the same category as the AIG backed commodities ETFs, but its still no cause for concern (for the reasons I gave) To make 110% sure of all this, I've just come off the phone with Nigel Phelan from ETF Securities (one of their top guys) The main points to come out of that discussion were: - Now that AIG has been made stable (at least for a year or two) ETF Securities has been able to reach an agreement with the market makers such that normal trading will resume tomorrow morning - That trading will be based upon the price of the underlying commodity or index, regardless of whatever pannick selling might take place - Had AIG gone bust, investors would have lost all the money that was backed by AIG. ETF Securities is now restructuring the basis of their AIG backed ETFs such that the investor would not loose the money should AIG ever go bust in the future - Nigel is one of the few people that has been privaledged enough to actually see the silver that DOES EXIST and which backs their unleveraged silver ETF. - That silver belongs to the investors, and so even if the banks that stores it should go bust, then its value will be returned to the investors EDIT: I wish to add how impressed I am with the professionalism of ETF Securities. They have had top people phone me back twice these last two days, and on each occasion given clear and complete answers to my various questions. Shame they can't be put in charge of the government Bigbigt - Thanks for the reassurance With Silver up 13+% today, I should hopefully be up 26% with the leveraging, but tomorrow I'll be transfering into the unleveraged physically backed fund you mention or maybe even cashing them in for the real thing. If the $60 trillion credit derivitive market unravels, then the fed's $85M is going to last about 2 nanoseconds. Cheers Link to comment Share on other sites More sharing options...
lardoon Posted September 17, 2008 Report Share Posted September 17, 2008 Not much of a fan of rocket imagery, but +$81 (so far) in one day, that pic is totally warranted. I was looking for John Nadler's commentary from Monday "mocking" gold forums predictions of a +50$ or +100$ on Sunday night while the Lehman bankruptcy was going on but guess what? kitco keeps archives from every author.. except for Mr Nadler... He must be eating his hat right now Anyway, I still find it hard to get over-enthusiastic at the moment (although I am very heavily (relatively) invested in Silver) as for all we (I) know it could all be going back down tomorrow with the huge volatility we have seen recently... Below is David Morgan's tentative at explaining what kicked today's rally: Members Only Alert from David Morgan to you September 17, 2008 Silver and Gold are both up 7% as this is being typed. The move up is based upon a number of factors but two of the main ones are linked below. Before you read these two stories it is important to point out that BOTH Silver and Gold are reacting to political and financial news. Some in the precious metals community adhere to belief that only gold is a safe haven, so far this has been proven FALSE! When the Twin Towers were hit, Silver soared 11% and gold soared 7%. Both the metals have been reacting to financial and political turmoil. More will be coming in our monthly report. First the political news... 16 Die in Attack on U.S. Embassy in Yemen http://www.nytimes.com/2008/09/18/world/mi...amp;oref=slogin Now as even the mainstream press is referring to the credit crisis that myself and several others have forecast for so long, we see a whole new "sales force" has been deployed to sell the debt of the U.S. Government. You might consider asking your friends and associates what makes them feel more secure gold and silver coin in their hand, or a piece of paper backed by the government being able to extract payment from their neighbor? Here is the financial news. Treasury announces debt auctions for Fed http://ap.google.com/article/ALeqM5jnS9Vm8...DNm4iAD938H19G0 Soon I will be off to the Silver Summit, and it will be difficult to reach me but our support is available by email or phone. Get Real, Buy Real The Silver Investor Link to comment Share on other sites More sharing options...
Pluto Posted September 17, 2008 Report Share Posted September 17, 2008 I go on a little walk, and what happens? THIS IS IT! The Cartel will be considering what they can do against it RIGHT NOW. Yep... http://www.youtube.com/watch?v=d7-e6Yhu5SU Link to comment Share on other sites More sharing options...
G0ldfinger Posted September 17, 2008 Author Report Share Posted September 17, 2008 Gold $864, Silver $12. Bless it! Link to comment Share on other sites More sharing options...
lardoon Posted September 17, 2008 Report Share Posted September 17, 2008 Bullion in ones possession has no counterparty risk - all else is fools' gold. Those who ignore this warning and are dazzled by products from the usurers will one day weep at their losses. Bullion in ones possession has burglary risk... Link to comment Share on other sites More sharing options...
whoops_apocalypse Posted September 17, 2008 Report Share Posted September 17, 2008 US Treasuries??? I read this with great interest last week... Achilles Heel, Shock Wave, Transformation Something big this way comes. Events will center upon the arch-nemesis of gold, the USTreasury Bond. Market interference is too huge, for bonds, for bank stocks, for the entire financial sector. Banking system structures are too broken. The pillars of the USEconomy are all in deep trouble, with profound deficits and insolvency the rule of the day. See the USGovt federal deficit (growing fast), the trade deficit (chronically large), the housing negative equity (worsening gradually), and insolvent banks (worse each quarter, despite the denials). A massive shock wave is coming. In all likelihood plans are in place, with events already set in motion, as the plan is probably to be event driven. CONTINUE >>> Link to comment Share on other sites More sharing options...
Pluto Posted September 17, 2008 Report Share Posted September 17, 2008 Bullion in ones possession has burglary risk... .....and as Keyenes once said "in the end we are all dead". Link to comment Share on other sites More sharing options...
G0ldfinger Posted September 17, 2008 Author Report Share Posted September 17, 2008 AIG wanted 20B last week, then it raised this number to 40B a few days later. The Fed looked at its books over the weekend and realized they need 80B. The 80B is also wrong. The final number will make grown men cry. Oh dear. Fed printing already like crazy. Link to comment Share on other sites More sharing options...
G0ldfinger Posted September 17, 2008 Author Report Share Posted September 17, 2008 FTSE100 down 23.33% this year. The unmentionable metal up 12.06%. Do you mean GOLD? BTW, this is not HPC! Link to comment Share on other sites More sharing options...
alexreeve Posted September 17, 2008 Report Share Posted September 17, 2008 Going from very happy to somewhat alarmed, this move must be heralding some serious sh1t! Link to comment Share on other sites More sharing options...
moroboshi Posted September 17, 2008 Report Share Posted September 17, 2008 Evening all, long time lurker here and finally sign up just as everything starts kicking off.... Can't quite believe the rise today in gold, and then travel home to find it busting straight through $850, where next?? p.s. many thanks to all the posters here - I've learnt a lot from the discussions here, and hope I can contribute something too. Link to comment Share on other sites More sharing options...
G0ldfinger Posted September 17, 2008 Author Report Share Posted September 17, 2008 My pension was moved to Goldmoney in April, it is now worth 31% more now than it would had I not moved it. This is entirely due to finding GF on HPC for he is the man that got me interested. That's great! However, just for the record, I have actually three "normal" (and smaller) pension schemes myself. They are not in gold. All my other savings are in physical gold and silver, and I try to keep the pension contributions small. But they are some sort of diversification, along with my future lifetime income, that is also not in gold obviously. Since I am VERY far from retiring, I am therefore possibly less exposed to gold/silver than I would like to be, although being 100% invested besides the comparatively small pension schemes. Link to comment Share on other sites More sharing options...
G0ldfinger Posted September 17, 2008 Author Report Share Posted September 17, 2008 IMO, JPMorgan and GOLDman Sucks are falling on behalf of the Fed, since they basically ARE the Fed and the Fed itself is not publicly traded. Link to comment Share on other sites More sharing options...
ares Posted September 17, 2008 Report Share Posted September 17, 2008 Are we looking straight in the face of the birth of a wave 3 move here? WAVE 1 = 250 -> 1030 +300% WAVE 2 = 1030 -> 735 -28% WAVE 3 = 735 -> 2000-3000? +300-500%?? Whats amazing is that the equities are still soooooo cheap in relation to the metal. HUI is up 13 XAU is up 10 only just out pacing the bullion! Link to comment Share on other sites More sharing options...
Gatesy Posted September 17, 2008 Report Share Posted September 17, 2008 The silver belongs to the investor in the case of the unleveraged ETFs The leveraged and inverse ETFs are simply tracking indexes produced by AIG. Investors in those would have lost all their money should AIG not have been baled out. But as I mentioned, ETF Securities is now going to change the relationship with AIG (or perhaps move to another partner) so that risk is eliminated in the future. I'd maybe prefer they keep the relationship with AIG seeing as it has uncle sams backing. Like Northern Rock, some advise putting cash in there now... Link to comment Share on other sites More sharing options...
creditcrunch Posted September 17, 2008 Report Share Posted September 17, 2008 Going from very happy to somewhat alarmed, this move must be heralding some serious sh1t! War? http://www.presstv.com/detail.aspx?id=6938...ionid=351020104 The US will reportedly equip Israel with highly advanced smart bombs capable of taking out fortified nuclear installations in Iran. A source close to the Russian military said last week that Moscow is considering providing Iran with more nuclear assistance amid Russia's escalating tensions with the US over the August crisis in the Caucasus - which Russia says was orchestrated by the Bush administration. Link to comment Share on other sites More sharing options...
lardoon Posted September 17, 2008 Report Share Posted September 17, 2008 That's great! However, just for the record, I have actually three "normal" (and smaller) pension schemes myself. They are not in gold. All my other savings are in physical gold and silver, and I try to keep the pension contributions small. But they are some sort of diversification, along with my future lifetime income, that is also not in gold obviously. Since I am VERY far from retiring, I am therefore possibly less exposed to gold/silver than I would like to be, although being 100% invested besides the comparatively small pension schemes. I think you should hedge that with some Gold Futures. What do you think? :P Link to comment Share on other sites More sharing options...
gwizzie Posted September 17, 2008 Report Share Posted September 17, 2008 War? http://www.presstv.com/detail.aspx?id=6938...ionid=351020104 mmm...i would have expected oil to shoot up more if this was the case this move in gold has ignored every point of resistance so far.... What is the point looking at a chart!!!! Link to comment Share on other sites More sharing options...
SoylentGreen Posted September 17, 2008 Report Share Posted September 17, 2008 Hello, this is my first ever post on this site, but have you guys seen this on Jesse's Cafe Americain ???? I find the 'you are here' especially interesting I can't help feeling twangs of schadenfreude even though millions of hard working, ordinary people look like they're about to lose everything they thought they owned. Link to comment Share on other sites More sharing options...
Gatesy Posted September 17, 2008 Report Share Posted September 17, 2008 mmm...i would have expected oil to shoot up more if this was the case Did you see the move back up from 91 to 97 in the last hour or so? Link to comment Share on other sites More sharing options...
lardoon Posted September 17, 2008 Report Share Posted September 17, 2008 Are we looking straight in the face of the birth of a wave 3 move here? WAVE 1 = 250 -> 1030 +300% WAVE 2 = 1030 -> 735 -28% WAVE 3 = 735 -> 2000-3000? +300-500%?? Whats amazing is that the equities are still soooooo cheap in relation to the metal. HUI is up 13 XAU is up 10 only just out pacing the bullion! My personal interpretation (FWIW) is that Gold's rally today is mostly driven by a flight from "safe" haven (Money markets) that are broken to "real" safe haven such as GOLD. http://www.bloomberg.com/apps/news?pid=206...&refer=home So the cause of GOLD going up is at the same time potentially negative to the miners with cost of financing going up also - hence the "divergence" between stocks and physical Another reason to hold physical (although I dont...) Link to comment Share on other sites More sharing options...
gwizzie Posted September 17, 2008 Report Share Posted September 17, 2008 Link to comment Share on other sites More sharing options...
Dispassion Posted September 17, 2008 Report Share Posted September 17, 2008 46 users are reading this topic Exciting times huh? What's the biggest daily percentage move up in gold of all time? The movement in gold price does seem a day or two belated, but seems to coincide with the recaptialisation of the Fed. Link to comment Share on other sites More sharing options...
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