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So the USD is now fixed to the CYN, and not the other way round.

 

Interesting!

It does feel like a seminal moment; that you might think back to this day as the tipping point when Chinese fiscal policy dragged the dollar up relative to all else...(due to the unmaintainable 'peg', which will inevitably fail)...

 

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It does feel like a seminal moment; that you might think back to this day as the tipping point when Chinese fiscal policy dragged the dollar up relative to all else...(due to the unmaintainable 'peg', which will inevitably fail)...

Hasn't China just blinked? The peg is beginning to cause iintolerable internal inflation.

 

Ben gets the chance to print even more now and force Chinese inflation up still further.

 

The peg will as you say ultimately fail.

 

Interesting times indeed.

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Gold's parabolic move over the whole bull run is nothing but devaluation of all fiat currencies. All fiat currencies are in a race to the bottom, one takes the lead then another takes over.

 

Gold isn't really going up, it is the currencies it is valued in are losing purchasing power.

 

The british pound looks the weakest on here;

 

20101019-c5ur5jnm4bfggjftmgj7ytsiie.jpg

 

 

:lol:

 

A perfect analogy that fits my own thinking. I have typed the same message almost word for word many times.

 

What I am stuck with now is my understanding that gold can not fail to rise in sterling terms given the situation (certainly long term) but that there maybe no significant new highs in sterling if dollar devaluation is the driving factor over the winter.

 

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Gold20Seasonal.jpg

 

 

Bit dated this, but fwiw the seasonal pattern has shown a dip going into November. Have a little more cash than I need so will be looking to make a purchase around the end of the month. Definitely my last purchase this time, as will have soon stopped earning an income. :)

 

 

Another chart:

 

comex.png

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Gold20Seasonal.jpg

 

 

Bit dated this, but fwiw the seasonal pattern has shown a dip going into November. Have a little more cash than I need so will be looking to make a purchase around the end of the month. Definitely my last purchase this time, as will have soon stopped earning an income. :)

Here's a 40 year seasonal chart, which shows the best time is now.

 

GOLD.GIF

 

 

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Help! I've got rusty roubles!

 

I recently bought a mixed job lot of pm's, which included a 50 Rouble gold coin originally bought from Sper Bank (receipts and documentation were included in the lot)

 

I then remembered reading something about rust spots on here and a quick search revealed this:

 

Here's a head scratcher: as everyone knows from elementary chemistry courses, gold is the most inert metal in the world - it does not rust, nor corrode. Yet this is precisely what Russian commercial precious metal trading company, International Reserve Payment System, discovered on thousands of (allegedly) 999 gold coins "St George" (pictured insert) issued by the Central Russian Bank. The serendipitous discovery occurred after various clients of the company had requested that their gold be stored not in a safe, but in a far more secure place: "buried under an oak tree." As the website of IRPS president German Sterligoff notes: once buried, "the coins began to oxidize under the influence of moisture." And hence the headscratcher: nowhere in history (that we know of) does 999, and even 925 gold, oxidize, rust, stain, spot or form patinas, under any conditions.

 

 

well guess what?! on closer inspection in turns out my coin displays these spots as well

 

rouble.jpg

 

 

 

I am not that bothered, as this does not seem to be that unique - something to put down to experience. Anyone have any comments about this?

 

 

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I am not that bothered, as this does not seem to be that unique - something to put down to experience. Anyone have any comments about this?

If the gold is not .999 at least and has silver or copper in it, you always get a little patina. Also, there might be copper etc. inclusions which turn into "spots". Even a .999 coin just gets a little greasy/dusty if you touch it all the time. A soft cloth (and a little bit of breath) is usually enough to remove all patina on the common coins.

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