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G0ldfinger
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Steve Netwriter Newbie

Steve Netwriter

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This time things seem to be moving in the 'right' direction.

 

GoldUS$ now 918.82, GoldGBP is 505.6.

 

But interestingly the JPY is UP.

 

NZ$JPY = 69.89

 

US$JPY = 104 <<<

 

EURJPY = 150.38 <<<<<<

 

GBPJPY = 188.55 <<<<<

 

 

So this time the JPY is going UP while Gold is rising.

 

Please note, the numbers are already out of date !

 

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G0ldfinger Newbie

G0ldfinger

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I bought my monthly allotment of gold this morning. :)

 

Haven't bought my monthly silver yet. Might do that tomorrow. :)

 

Look at the daily chart on USAGold. Gold has formed a lauch pad over the past few weeks. I think we're going to see some sort of moonshot soon.

 

goldlaunchpadzf6.png

w565.png

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nicejim Newbie

nicejim

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THE EMPIRE STRIKING BACK.

 

NOW. :o

 

EDIT: Launchpad still intact. ;)

You called the top with that Moonshot post ;-)

 

 

Bailout or no bailout, there's still more money available.

http://www.bloggingstocks.com/2008/09/29/f...l-system/print/

"When we conquer our fear of this debt monster, the ship will begin to head on the right course. When that occurs, I can't predict."

 

If you want us not to fear it, at least call it a Debt Kitten :-)

 

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Armchair Newbie

Armchair

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The difference between the spot price of Gold and the price you pay to actually hold some in your hand is such a very clear sign of where this is going.

 

As someone with all their gold in Bullion Vault I'm beginning to worry! :(

 

If I sell in Bullion Vault now and buy some coins it'll be next week before it all clears, and that may be too late!

 

Anyone else feeling the same way or has tonight just finally spooked me too much?

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G0ldfinger Newbie

G0ldfinger

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... As someone with all their gold in Bullion Vault I'm beginning to worry! :( ...

Why? You possess physical gold through BV. The disconnect of retail and wholesale market only means that the wholesale market will catch u.p at some stage because the short get blown out of the water when the manufacturers need to go shopping to satisfy retail demand.

 

No need to worry.

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dietcolaaddict Newbie

dietcolaaddict

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GEI is really finding it's purpose and market niche these days - so many insights and good calls by the posters on this thread over the last few months.

(and to think I only started reading this stuff because I couldn't afford (or wouldn't pay 6xsalary) for a tiny flat in a crappy UK town).

 

Won't gold take a serious smack tomorrow as traders etc. liquidate any gold they have to cover losses.

 

 

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lardoon Newbie

lardoon

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Why? You possess physical gold through BV. The disconnect of retail and wholesale market only means that the wholesale market will catch u.p at some stage because the short get blown out of the water when the manufacturers need to go shopping to satisfy retail demand.

 

No need to worry.

 

That is really something that has me intrigued. I remember Mish Shedlock saying that it could be a contrarian Sell indicator (ie sell when the small investors are buying in) on CWR interview not so long ago.. Now I know that sounds crazy in the current times but who knows...

 

Does anybody know if this sort disconnect between physical coins and physical bars (ie it does not only apply to COMEX bars, even on bairds the premium was roughly 3% only for a 1 kilo bar) has existed before (in this bull market or more specifically in the 1970s) and if this was a good price indicator?

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electroweak Newbie

electroweak

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The difference between the spot price of Gold and the price you pay to actually hold some in your hand is such a very clear sign of where this is going.

 

As someone with all their gold in Bullion Vault I'm beginning to worry! :(

 

If I sell in Bullion Vault now and buy some coins it'll be next week before it all clears, and that may be too late!

 

Anyone else feeling the same way or has tonight just finally spooked me too much?

I was feeling the same. Two things you should know.

1) BV is connected to the physical market - people who own LBMA Good delivery bars can sell the physical. So if they can pick up your gold cheaper, they will, and they'll sell it to LBMA members and make a profit, but the price in BV will then be moved toward physical LBMA prices by their actions. So, summary: no need to worry.

 

2) There is a way to do it if you REALLY want out of BV - here NOTE I have assumed your BVaccount is 'validated' - otherwise you will not be able to withdraw yet. Anyway.. here goes...

I reccomend doing it in chunks, but you could sell in BV and immediately buy at coininvestdirect.

Then call BV, make the withdrawal but specify that you want a CHAPS withrawal (costs 20 quid) if u r in the UK.

The funds should arrive in your bank the next day.

Meanwhile CID will send you an invoice. You then send the cash to them (again by CHAPS) and all is ok.

It worked for me, and in a week when gold went up 12% for a LARGE order. They didn't baulk at all even though I was a bit nervous they might go back on the contract.

 

Number (2) I would NOT recommend in today's banking crisis. Sit tight is my advice.

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Armchair Newbie

Armchair

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I was feeling the same. Two things you should know.

1) BV is connected to the physical market - people who own LBMA Good delivery bars can sell the physical. So if they can pick up your gold cheaper, they will, and they'll sell it to LBMA members and make a profit, but the price in BV will then be moved toward physical LBMA prices by their actions. So, summary: no need to worry.

 

2) There is a way to do it if you REALLY want out of BV - here NOTE I have assumed your BVaccount is 'validated' - otherwise you will not be able to withdraw yet. Anyway.. here goes...

I reccomend doing it in chunks, but you could sell in BV and immediately buy at coininvestdirect.

Then call BV, make the withdrawal but specify that you want a CHAPS withrawal (costs 20 quid) if u r in the UK.

The funds should arrive in your bank the next day.

Meanwhile CID will send you an invoice. You then send the cash to them (again by CHAPS) and all is ok.

It worked for me, and in a week when gold went up 12% for a LARGE order. They didn't baulk at all even though I was a bit nervous they might go back on the contract.

 

Number (2) I would NOT recommend in today's banking crisis. Sit tight is my advice.

 

Good Points.

 

I suppose the reality is that I've been reasonably certain of the economic SHTF for a while, and have therefore been in BV gold for a little over 12 months, but as this thing has progressed I'm now leaning more to the baked beans and bottled water approach.

 

It's very annoying that despite my best efforts I can't plan for the future because others have made such a complete phuck up of it.

 

The gits.

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Catflap Newbie

Catflap

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GEI is really finding it's purpose and market niche these days - so many insights and good calls by the posters on this thread over the last few months.

(and to think I only started reading this stuff because I couldn't afford (or wouldn't pay 6xsalary) for a tiny flat in a crappy UK town).

 

Won't gold take a serious smack tomorrow as traders etc. liquidate any gold they have to cover losses.

 

Same story here - the knowledge I've gained by being priced out and posting on HPC and GEI is far more valuable than any overpriced rabbit hutch I could have bought for 8-10 times my earnings which would have enslaved me for many years.

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Gatesy Newbie

Gatesy

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So what does happen next?

 

No bail out if it remained that way would presumably spell continued disaster for stock markets. Say for a moment the bail outs stopped here then, congress stops rubber stamping Paulson and Bernanke's plans. What of the fortunes for PM's? I suppose today has shown where gold holds it own as a crisis hedge; so stocks could plummet by 90% and gold retains or even marginally increases in value (something I proposed a few weeks back on the inflation/deflation thread). It's other role as an inflation hedge would presumably go out of the window as we really would have a deflation on our hands.

 

But I think most here would argue that the bail outs won't stop, but they take a while to get through. So stock indices fall some more, gold stays rock steady, (as a crisis hedge), bail out's eventually come, stock indicies bounce ( a true dead cat bounce) but only a little, gold at this stage could take a hit as folk think the worst is over, but then the inflation from the bail outs really takes hold and gold starts it final up move without really pausing for breath. When does this all happen? I'm not sure at all but I suppose if I hold my gold I'll be alright ( I now think the inflation bit for gold will kick in 2nd half of 2009). Today's stability in gold did a great deal to dispel some of the doubts for me that I suspect many have had as to whether holding gold will pay off. As a relative newbie to gold (just over a year) and suffering the recent significant corrections within that year, doubts were easily created, but for me, now they are gone.

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