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I quite like this quote I copied from Steve Cook on HPC. I'm not going to argue the precise economics of the quote, I just like the general message it conveys.

 

Gold is the money of kings

 

Silver is the money of gentlemen

 

Barter is the money of peasants

 

Debt is the money of slaves

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Keep the faith. I'm a poor man, but I don't trust the system any more. I've bought another eight sovereigns today – as a regular buyer I've negotiated a discount with a local auctioneer who does house clearances and seems to have gold coins every month: it's amazing how many old people have them stashed away.

 

The Sheeple/real people are now awake!!! Good on you.

 

Bubb et al (I KNOW WHO YOU ARE)... you will be shot at dawn!

 

We tried, but now you deserve what you get...

 

Throughout history the ruling class has always sought to own gold and silver, because they represent purity and longevity. Gold and silver are precious because they are scarce, they cannot be counterfeited by man. God commanded that the tabernacle in the OT and the New Jerusalem in the NT were to be built of gold, not paper.

 

Right or wrong...it is what it is! ;)

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Throughout history the ruling class has always sought to own gold and silver, because they represent purity and longevity. Gold and silver are precious because they are scarce, they cannot be counterfeited by man. God commanded that the tabernacle in the OT and the New Jerusalem in the NT were to be built of gold, not paper.

 

Right or wrong...it is what it is! ;)

They also made a golden bull in the wilderness, and worshipped it. :)

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Keep the faith. I'm a poor man, but I don't trust the system any more. I've bought another eight sovereigns today – as a regular buyer I've negotiated a discount with a local auctioneer who does house clearances and seems to have gold coins every month: it's amazing how many old people have them stashed away. sovs

 

A poor man, as am I. And we will benefit all the more from keeping wealth outside the system. The gold price seems high compared to a couple of years ago, but you have to judge the risk for yourself and be prepared for any down moves and wild price swings. It was the same in 2007 when I first plunged into gold, having watched the market for a year and having missed out on a lot of gains, I was prepared to weather the falls without being shaken out, knowing that prices can move rapidly up and down as we have seen recently.

 

I'm not sure how knowledgeable on the gold bullion market you are, so apoliges if this is already known to you, but for the benefit of any new readers, please be careful with second hand sovereigns unless you buy from BTNA members. Almost all sovs should be fine and tradable at their bullion value, but if sovs are damaged usually after being removed from jewellery then they may only get scrap value at around 75% of spot price. I recently witnessed a jeweller trading some sov in Chards and some of the sovs did not meet the bullion criteria so they gave them back to him. If a sov is damaged on one side it will be often used in a ring or chain where the damaged side is hidden.

 

Sovereigns in Jewellery

Even "ordinary" sovereigns will become worn and polished by wearing as jewellery, but this cannot be helped. Some people worry that this will detract from their value. While this is true, the same argument could be applied to almost anything. Using and driving a car will cause wear and tear, and will decrease its value, however it would be rather stupid for most people to own a car just to leave it in a garage and never drive it. It's similar with using sovereigns and other coins in jewellery. The important thing is to obtain value by getting the pleasure of ownership.

 

http://www.goldsovereigns.co.uk/bullionsovereigns.html

 

http://www.goldsovereigns.co.uk/grading.html

 

General info

 

http://www.goldsovereigns.co.uk/information.html

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... please be careful with second hand sovereigns unless you buy from BTNA members. Almost all sovs should be fine and tradable at their bullion value, but if sovs are damaged usually after being removed from jewellery then they may only get scrap value at around 75% of spot price. I recently witnessed a jeweller trading some sov in Chards and some of the sovs did not meet the bullion criteria so they gave them back to him ...

Thanks for the reminder. In fact I'm very careful about condition, and am interested that at the auction unopened proof sovereigns (for example) seem to sell for the same price as bullion ones in indifferent condition. Often there's only me and one other chap bidding for them, and we tend to end up with about half of them each -- with £5 bidding steps I think we're both working to the same maximum bids. I bought one recently for £160 and sold it that same day to Chards for £220 (a date they were wanting). Not quite in Dr Bubb's league, but it made me feel pleased!

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Jim Puplava and David Morgan talking about a liquidity squeeze and what this will entail for the dollar and gold [on FSN].

 

Jon Exter's inverted pyramid was mentioned and here it is for those that are unfamiliar here it is. It represents a liquidity squeeze where money looks to move from illiquid to liquid assets. Dollar and gold are seen to strengthen against other assets. This pyramid has been quite central to my own ideas of where events are heading.

 

0508_clip_image002.jpg

 

 

A Moneychanger Interview: Mr. John Exter

Simplex Munditiis

http://the-moneychanger.com/articles_files...omy/exter.phtml

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Today I was awoken by a very aggressive knock at the front door. Who the hell is that I thought!? I took a look from my front bedroom and what do I see...A salesman! So I just let him be on his way...

 

Then, what do I see at my front door...A broken, scrap & unwanted Gold/Silver leaflet (I will call back later today) :angry:

 

On further inspection I actually see four of these scumbags knocking all the doors in my area!

 

They are actually based over 100 miles from my address...what the hell is going on??

 

The sheeple are going to be in deep trouble if/when TSHTF!

 

 

 

 

 

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According to Jim Willie a a gold bullion bank run is currently in progress -

 

FW: contact with strong ties to info sources

 

huge demands for physical gold are coming from entities holding allocated gold accounts

they have deposits at gold bullion banks

they are showing up unannounced, with full paperwork, demanding gold to be handed over paperwork consists of lists, bars, dates, serial numbers, weights, and smelter hallmark brands

this is a full blown run on the bullion banks

it is unclear whether they only doubt their gold remains in possession, or if fake gold is held

they are being shown the stacks of shiny pretty gold bars, and urged not to take possession but the entities are not convinced their particular own gold bars are there

big clearing houses are owed gold bullion, and the bullion banks do not have it

at the same time, the delivery process has been corrupted big

cash bribes are being offered in bids to settle in cash without delivery in futures contracts in fact, the cash bribes are patterned in a reduction over consecutive days

this gives the impression of the extraordinary period being only a brief segment of time

this is a full blown run on the bullion banks

we are fast entering the FRAMEWORK of divergence between paper gold and physical gold

my source confirmed that the divergence is an end game symptom

geez! we might see a $970 gold price before the system just shuts down

this is a run on the gold banks

did I mention this is a run on the gold banks ??

soon we might not have any prices listed on the gold exchanges

soon we might hear of an important default, from a party using courts and legal staffs

soon the physical gold price will be some average of five known private party large volume traders

this is a run on the gold banks

/ jim

 

 

UPDATE

 

Another interesting bit from Jim Willie:

"Before leaving the gold and silver front, I have been told by a reliable source, and this has yet to be confirmed that. the Indian gold purchase has turned out to tungsten filled

This is now just a rumour. I have emailed Rob Kirby and asked if he can confirm the story.

 

However, Jim Willie has reported to us that all allocated gold everywhere is being audited and proof of quality and weight of the bars are being analyzed as we speak.The bullion banks are resisting owners from taking possession of their bars. We will follow up on this story and on the Indian story as to whether its gold is tungsten or not.

 

Here is his alert to us:"

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According to Jim Willie a a gold bullion bank run is currently in progress -

 

FW: contact with strong ties to info sources

Any link?

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I'm not a chartist or a trader- I hold gold and do so for insurance reasons. I look at fundamentals... However, I'm interested in patterns (as an artist of sorts, they interest me greatly).

 

The image i've uploaded is my first attempt to annotate a chart (also my first attempt at uploading one to this site, apologies f it doesn't work!!)

 

The blue lines show the bullish movement, the thick ones are my attempt at the general strong uptrend with a secondary higher up trend in thin blue.

I have shown three steeper channels in dotted blue which intersect the main trend pushing the price up into the higher secondary trend on two occasions- the last one being the recent surge to around 1200.

 

I have added Pixl8r's consolidation lines in thin red because I like them! However I've added one more of them on the latest peak (Sorry Pixl8r!) as it coincides with the upper trend line just as in early 2008.

 

I have also highlighted the pullbacks which happen at both upper trend lines. They all have similar rates of decent, and the three which happen at the end the steeper channels follow similar consolidations don't recover very quickly.

 

Are we headed back into the longer term channel or is this our new support...it wasn't last time...

 

There is a lot going for gold at the moment and we're still in the steeper uptrent (just)- also there are big buyers out there at around 1050-

 

Does this chart mean anything at all?? Do any charts mean anything at all-

 

Love to know your opinions.

 

I'm not selling either way.

post-1592-1261343733_thumb.png

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According to Jim Willie a a gold bullion bank run is currently in progress -

 

FW: contact with strong ties to info sources

 

huge demands for physical gold are coming from entities holding allocated gold accounts

they have deposits at gold bullion banks

they are showing up unannounced, with full paperwork, demanding gold to be handed over paperwork consists of lists, bars, dates, serial numbers, weights, and smelter hallmark brands

this is a full blown run on the bullion banks

it is unclear whether they only doubt their gold remains in possession, or if fake gold is held

they are being shown the stacks of shiny pretty gold bars, and urged not to take possession but the entities are not convinced their particular own gold bars are there

big clearing houses are owed gold bullion, and the bullion banks do not have it

at the same time, the delivery process has been corrupted big

cash bribes are being offered in bids to settle in cash without delivery in futures contracts in fact, the cash bribes are patterned in a reduction over consecutive days

this gives the impression of the extraordinary period being only a brief segment of time

this is a full blown run on the bullion banks

we are fast entering the FRAMEWORK of divergence between paper gold and physical gold

my source confirmed that the divergence is an end game symptom

geez! we might see a $970 gold price before the system just shuts down

this is a run on the gold banks

did I mention this is a run on the gold banks ??

soon we might not have any prices listed on the gold exchanges

soon we might hear of an important default, from a party using courts and legal staffs

soon the physical gold price will be some average of five known private party large volume traders

this is a run on the gold banks

/ jim

 

 

UPDATE

 

Another interesting bit from Jim Willie:

"Before leaving the gold and silver front, I have been told by a reliable source, and this has yet to be confirmed that. the Indian gold purchase has turned out to tungsten filled

This is now just a rumour. I have emailed Rob Kirby and asked if he can confirm the story.

 

However, Jim Willie has reported to us that all allocated gold everywhere is being audited and proof of quality and weight of the bars are being analyzed as we speak.The bullion banks are resisting owners from taking possession of their bars. We will follow up on this story and on the Indian story as to whether its gold is tungsten or not.

 

Here is his alert to us:"

 

Things are really coing to a head now. No wonder the Chinese didn't go for the IMF gold. Those smart folks are already one step ahead. I wonder how GM and BV will discover price with no COMEX? Ebay perhaps?

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There is a lot going for gold at the moment and we're still in the steeper uptrent (just)- also there are big buyers out there at around 1050-

 

Does this chart mean anything at all?? Do any charts mean anything at all-

 

Looks reasonable to me. For me, the major supports are 1080, 1033, 1000 and 950. The key weekly Fibonacci 38% retracement come in at 1019 (near the previous March 2008 high). That the number to watch. Anything above that and there's nothing really to sweat about. Of course, take everything I say with a pinch of salt.

 

EDIT: spelling

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Stocks (SPY) and Gold (GLD) are charting amazingly well together ... update

zzzzr.gif

 

It will be interesting to see if stocks slide through SPX-1085 just as Gold is sliding through

its equivalent support (near $1090-1100). If it happens together, then we may see a powerful

deleveraging slide in both of these together.

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I wonder how GM and BV will discover price with no COMEX? Ebay perhaps?

 

if more customers are coming to them as buyers than sellers then they raise their prices.

 

if more customers are coming to them as sellers than buyers then they lower their prices.

 

if more customers are doing business with their competitors then they narrow their spread (or go bust or somehow offer a higher value service).

 

pretty simply stuff really.

 

the eggs futures market was closed down in the '40s. I haven't had any trouble aquiring eggs lately. :)

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Buying some gold in GBP here. Tough decision, would have liked it to be lower (wouldnt we all), though the Sep-March cycle could play out again and sitting in GBP otherwise and looks oversold on a ST basis at least....

 

Any further current thoughts on £GOLD out there?

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