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Given the likely fall of the dollar, is it better to hold gold in $ or £ or euros?

Erm... i think you may have a misconception here!

You can fund an account (say with BullionVault) using $,GBP or Euro. You can then sell your gold into any of these 3 currencies as you choose. Gold IS a currency itself, and cannot be "held" in dolars, pounds, euros or anything else for that matter; it has a value in all these currencies simultaneously, depending on how hot the presses are in each country! :)

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So Gold's struggling to punch through $900, and Silver's stuck at $13.33333

 

Does anyone think that maybe, just *maybe* in the TA world we've got here a little too quickly?

 

I appreciate there was a blip over $900 last week - but it didn't last long.

 

The fundamentals are there, stronger than ever, but I fear in the eyes of traders a pullback is needed before we can advance further.

 

 

Or maybe I'm spouting utter tosh. :rolleyes:

 

I think the euphoria [idiocy] of last week is wearing off. Investors are starting to think of the ramifications of rtc2 which can only mean one thing for POG.

 

Does not mean that another dip couldn't happen... but I think this is becoming increasingly unlikely now that gold is coming more into its own... notice that the commodities are also performing well.

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This is why you shouldn't play the gold market on margin. It will kill you.

Yup, I know. It did.

 

I was young and reckless.

 

When I look back now at the size of some of the positions I held back in February it scares me. It sure was a piece of cake to make a shed-load of cash on the way up. Unfortunately it was darned near impossible to hold onto it.

 

I don't play that game any more (well I do, just with tiny amounts and with a completely different attitude).

 

 

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The unfunded liabilities argument is different - it asserts that we can't possibly save up the $60 trillion needed to fund future commitments so we should cut or reduce Medicare and Social Security now. It is an intentional blurring of the future redistribution with current deficits in an attempt to attack the idea of redistribution.

I'm not an expert on social security and medicare in the US, but they would appear to be run as trust funds so perhaps people are expecting (and entitled to) a defined benefit when their time comes. As such, 'unfunded liabilities' may well accurately reflect the situation in the US, much like public sector final salary pensions in the UK.

http://www.msnbc.msn.com/id/7053462/

 

Mind you, at least they bothered to set up trust funds for such things in the US. Here in the UK public sector pensions will just paid directly out of future taxes, in the typical off-balance-sheet scam approach beloved by the spivs who run our country these days.

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I'm not an expert on social security and medicare in the US, but they would appear to be run as trust funds so perhaps people are expecting (and entitled to) a defined benefit when their time comes. As such, 'unfunded liabilities' may well accurately reflect the situation in the US, much like public sector final salary pensions in the UK.

http://www.msnbc.msn.com/id/7053462/

 

Mind you, at least they bothered to set up trust funds for such things in the US. Here in the UK public sector pensions will just paid directly out of future taxes, in the typical off-balance-sheet scam approach beloved by the spivs who run our country these days.

 

I think that's about right. I'm not saying that the unfunded liabilities theory is totally wrong, just that it tends to be stressed in a rather alarmist way by people whose agenda is to attack wealth redistribution.

 

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Forgive my ignorance, but if the recent events in the US are having an adverse effect on the $, and gold is priced in $, what impact would this have for us in the UK?

 

I'm assuming that everyone here buys bullion in £s, not $s, and although sterling has problems, the US has always been ahead of us (starting with the sub-prime crisis). Could the dollar fall dramatically against the pound, and what would this mean for POG in UKP?

 

If that's combined with the possibility of a smackdown before the November elections, can we see any better buying opportunities for gold ahead?

 

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If that's combined with the possibility of a smackdown before the November elections, can we see any better buying opportunities for gold ahead?

 

Of the two time I have bought gold so far, both were just before 'smack downs' , I was a bit worried at first but.... I'm not going to wait for any smack downs,

and will convert my GBP at the first opportunity: if I am fortunate to be buying just after a smack down then, lucky me.

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I'm not going to wait for any smack downs,

and will convert my GBP at the first opportunity: if I am fortunate to be buying just after a smack down then, lucky me.

 

muhahaha, then its gets smacked down (again), and you spend the next few weeks biting your lip as you watch the price slowwwwwlly creep back up, as the thought of how many more ounces your money would get now compared to then gently nibbles at your peace of mind. :D

 

 

 

ahem, yes, I bought a little silver at $19..

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BV has $900 now

 

It's good to break the resistance at $902, looks like a challenge on $1000-$1003 may happen very soon!

 

Oil up by 20% is pretty exciting. It looks like the oil market has decided that it won't be debt that strangles the world economy, but energy prices after all, so let's see how quick the world can restructure, if any of our politicians are interested. Perhaps they're expecting the free markets to think long term and guide the changes in infrastructure, because the financial sector has always been good at that hasn't it...?... oh wait, hold on... It is up to the state, isn't it...? Someone should tell the electorate quick, before they vote in conservative governments again.... I wonder who in the media will help us...? oh crap...

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Mike Malony appears in the second hour of goldseek radio this week, well worth a listen.

 

He works with R.Kyosaki, and it appears the duo are really making their voices known about PM.

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i m not going to get carried away with silver, the price increase may come up as a brief spike. It still comes out of the ground at ratio between 50 and 100 to one.

 

Check out Griffin Mining's last trading statement, they mined 800 ounces of gold to 90,000 ounces of silver.

 

 

Rhodium, another silver coloured metal always provides a reminder that falls are as dramatic as the rises

RhodiumPriceProduction.jpg

 

rd00-09.gif

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What the hell happened to XAU??
Looks right to me, it largely behaves as leverage on the movement of the gold/silver price.

I expect to see both the XAU and HUI close to their peaks in March, if and when gold hits $1000 again.

post-2092-1222114478_thumb.png

post-2092-1222114489_thumb.png

post-2092-1222114518_thumb.png

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I watched quite a few things over the weekend, but I think this was the documentary I referred to earlier.

 

It's pretty light on content really, but kind of 'fun' (if you know what I mean) to watch...

 

.

 

Thank you :D

I've watched a few, but not those.

 

You'll see. You'll see. You'll see.

 

 

Actually, I was just watching this YouTube video about the the crash of 1987.

 

What is it about the September / October? :unsure:

 

Right onto that one next :D

 

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