littledavesab Posted December 9, 2009 Report Share Posted December 9, 2009 Changing the subject slightly - has anyone ever played Pit? I used to enjoy playing my folks at Pit when I was a kid, many years ago. http://en.wikipedia.org/wiki/Pit_(game) Each deck consists of 74 cards with nine cards each of eight different commodities. The specific commodities have varied over the various editions of the game, but those used in most modern editions are Barley, Corn, Coffee, Oranges, Oats, Soybeans, Sugar and Wheat. The classic version has flax, hay, oats, rye, corn, barley, and wheat. Two special cards are also included, the Bull and the Bear. Link to comment Share on other sites More sharing options...
Methinkshe Posted December 9, 2009 Report Share Posted December 9, 2009 Changing the subject slightly - has anyone ever played Pit? I used to enjoy playing my folks at Pit when I was a kid, many years ago. http://en.wikipedia.org/wiki/Pit_(game) Each deck consists of 74 cards with nine cards each of eight different commodities. The specific commodities have varied over the various editions of the game, but those used in most modern editions are Barley, Corn, Coffee, Oranges, Oats, Soybeans, Sugar and Wheat. The classic version has flax, hay, oats, rye, corn, barley, and wheat. Two special cards are also included, the Bull and the Bear. It's a favourite game in our family - very noisy! Link to comment Share on other sites More sharing options...
mSparks Posted December 9, 2009 Report Share Posted December 9, 2009 That's nonsense. I'm willing to be convinced. Who's been bidding the price up then? Link to comment Share on other sites More sharing options...
carbon junkie Posted December 9, 2009 Report Share Posted December 9, 2009 you know how some people always manage to sell their car for more than they paid for it, & yet also manage to get the cheapest deals when they buy the new car Yes I have got a mate like that it's a form of denial - frustrating, just best to laugh it off. Link to comment Share on other sites More sharing options...
carbon junkie Posted December 9, 2009 Report Share Posted December 9, 2009 So much for biggest plunge ever, or so. http://gold.approximity.com/since1968/Gold_USD_AMAM.png Tis a mere fleshwound!! From: Link to comment Share on other sites More sharing options...
carbon junkie Posted December 9, 2009 Report Share Posted December 9, 2009 If that were true, gold would be the same price now as it was when interest rates were ~6%. If interest rates were at 6% one would conclude that the Govt. is actually doing the right thing. There would be less incentive to hold gold! Link to comment Share on other sites More sharing options...
mSparks Posted December 9, 2009 Report Share Posted December 9, 2009 If interest rates were at 6% one would conclude that the Govt. is actually doing the right thing. There would be less incentive to hold gold! The assumption that the Govt has anything more than a tiny short term control of interest rates was disproved a long time ago. Link to comment Share on other sites More sharing options...
wren Posted December 9, 2009 Report Share Posted December 9, 2009 I'm willing to be convinced. Who's been bidding the price up then? If interest rates were 6% cash would be more attractive (or less unattractive) than it is. People buy gold for want of something better. As we all know it just sits there doing nothing and maybe costing for storage and insurance. Volcker ended the last gold bull market by putting up interest rates sufficiently high to make gold less attractive. Link to comment Share on other sites More sharing options...
lowrentyieldmakessense(honest!) Posted December 9, 2009 Report Share Posted December 9, 2009 If interest rates were 6% cash would be more attractive (or less unattractive) than it is. People buy gold for want of something better. As we all know it just sits there doing nothing and maybe costing for storage and insurance. Volcker ended the last gold bull market by putting up interest rates sufficiently high to make gold less attractive. that reminds me of a post of CGNAO something along the lines when interest rates are 2% above the money supply increase sell gold cant find the post now Link to comment Share on other sites More sharing options...
carbon junkie Posted December 9, 2009 Report Share Posted December 9, 2009 The assumption that the Govt has anything more than a tiny short term control of interest rates was disproved a long time ago. That wasn't my point. Below is my point. Volcker ended the last gold bull market by putting up interest rates sufficiently high to make gold less attractive. Link to comment Share on other sites More sharing options...
Errol Posted December 9, 2009 Report Share Posted December 9, 2009 that reminds me of a post of CGNAO something along the lines when interest rates are 2% above the money supply increase sell gold Indeed. Interest rates would have to get well into the teens. Link to comment Share on other sites More sharing options...
electroweak Posted December 9, 2009 Report Share Posted December 9, 2009 that reminds me of a post of CGNAO something along the lines when interest rates are 2% above the money supply increase sell gold cant find the post now here it is/was: CGNAO Sep26th 11:33am (2008).. http://www.greenenergyinvestors.com/index....ost&p=62279 1) Liquidate ALL financial assets, ALL assets held on margin and ALL bank deposits in ANY bank in ANY currency ANYWHERE. 2) Hold at least 25% of your net worth in physical gold and silver, either in your direct physical possession or in allocated, segregated and insured storage in a safe jurisdiction. 3) Put the rest in very short term (three months maximum) government debt denominated in EUR or CHF until EITHER a) the European Central Bank lowers rates. OR B ) the European Central Bank stops publishing M3 data OR c) long term German government bond yields exceed the EURO broad money supply (M3) growth rate by at least 2%. If a) or B ) dump the short term government debt immediately and buy bullion regardless of price. If c) sell bullion and short term government debt to buy 30 years German government bonds. Link to comment Share on other sites More sharing options...
mSparks Posted December 9, 2009 Report Share Posted December 9, 2009 That wasn't my point. Below is my point. because low interest rates are inflationary. and holding gold in an inflationary environment is (generally) a good thing, this is well known. hence "Take it as a gift that everyone else is still sleeping" is not true. Link to comment Share on other sites More sharing options...
drbubb Posted December 9, 2009 Author Report Share Posted December 9, 2009 MSI#1 (WTIC/USD) has broken, at last: Yesterday's slide in Oil was: WTIC: $70.82 -1.80 / Pct Chg: -2.48% USO : $35.87 -0.98 / Pct Chg: -2.66% Gold was down too, and like oil, looks to have further to fall ... update Does the Piper still think this is a little Bear cub of a correction? It looks like Gold may fall at least $180-200 from the top, that's about 15%. The last 15% up was heralded as a gia-normous prooof of the bull case, and now they want to brush off a drop of the same size Link to comment Share on other sites More sharing options...
Perishabull Posted December 10, 2009 Report Share Posted December 10, 2009 Technical analysis of gold this week Link to comment Share on other sites More sharing options...
drbubb Posted December 10, 2009 Author Report Share Posted December 10, 2009 Technical analysis of gold this week The cubby has grown, it seems! Link to comment Share on other sites More sharing options...
Perishabull Posted December 10, 2009 Report Share Posted December 10, 2009 Gold retreats as hedge funds sell http://www.theaustralian.com.au/business/m...f-1225808876526 Who would have thought? Link to comment Share on other sites More sharing options...
drbubb Posted December 10, 2009 Author Report Share Posted December 10, 2009 Gold retreats as hedge funds sell http://www.theaustralian.com.au/business/m...f-1225808876526 Who would have thought? Those who thought that the Hedgies were going to be long term holders of gold, should think again GOLD fell sharply today as hedge funds sold to exit positions and capture profits before year-end, perhaps prodded by the US dollar showing some stability lately. February gold fell $US22.50 to $US1120.90 an ounce on the Comex division of the New York Mercantile Exchange. It closed lower for the fourth straight day, near a one-month low. March silver fell US62.7 cents to $US17.18. "We're entering that time where you have end-of-year position squaring by hedge funds," said Michael Gross, broker and futures analyst with OptionSellers.com. "They have been heavily long in the gold and silver markets. But the recent strength in the dollar -- even though it's not up today -- has been enough to trigger end-of-year profit-taking." A weaker US dollar for much of 2009 enabled gold to hit a record high last week, since investors often buy the metal as a hedge against a falling US dollar. However, the December dollar index is up roughly two points since Friday. It was down 0.105 point at 76.225 shortly before the Comex gold pit closed, but was up from a low for the day of 75.875. Tom Pawlicki, analyst with MF Global, also cited the sharp fall in crude oil after weekly energy-inventory data, as another factor undercutting gold. January crude was more than $US2 a barrel weaker around gold's close. Equities were also modestly lower. Funds generally have substantial profits in gold, Mr Gross said. At last week's record high, February gold was up 38 per cent for the year. Link to comment Share on other sites More sharing options...
mSparks Posted December 10, 2009 Report Share Posted December 10, 2009 Those who thought that the Hedgies were going to be long term holders of gold, should think again GOLD fell sharply today as hedge funds sold to exit positions and capture profits before year-end, perhaps prodded by the US dollar showing some stability lately. February gold fell $US22.50 to $US1120.90 an ounce on the Comex division of the New York Mercantile Exchange. It closed lower for the fourth straight day, near a one-month low. March silver fell US62.7 cents to $US17.18. "We're entering that time where you have end-of-year position squaring by hedge funds," said Michael Gross, broker and futures analyst with OptionSellers.com. "They have been heavily long in the gold and silver markets. But the recent strength in the dollar -- even though it's not up today -- has been enough to trigger end-of-year profit-taking." A weaker US dollar for much of 2009 enabled gold to hit a record high last week, since investors often buy the metal as a hedge against a falling US dollar. However, the December dollar index is up roughly two points since Friday. It was down 0.105 point at 76.225 shortly before the Comex gold pit closed, but was up from a low for the day of 75.875. Tom Pawlicki, analyst with MF Global, also cited the sharp fall in crude oil after weekly energy-inventory data, as another factor undercutting gold. January crude was more than $US2 a barrel weaker around gold's close. Equities were also modestly lower. Funds generally have substantial profits in gold, Mr Gross said. At last week's record high, February gold was up 38 per cent for the year. And I'm sure, hedge funds will almost certainly have a more or less fully hedged exit strategy before allowing this news to break, nearly all the profit from their long positions will be locked in from buying a stack of put options and the plebs are about to get ripped a new one. Link to comment Share on other sites More sharing options...
Icarus Posted December 10, 2009 Report Share Posted December 10, 2009 The cubby has grown, it seems! Hope I don't get a margin call on my stack. So, should I use my gold and silver to buy a pile of green paper? With Insane government budget deficits, massive printing of money and shrinking gdp how could holding paper possibly be a bad idea? Link to comment Share on other sites More sharing options...
surfdude Posted December 10, 2009 Report Share Posted December 10, 2009 Changing the subject slightly - has anyone ever played Pit? I used to enjoy playing my folks at Pit when I was a kid, many years ago. http://en.wikipedia.org/wiki/Pit_(game) Each deck consists of 74 cards with nine cards each of eight different commodities. The specific commodities have varied over the various editions of the game, but those used in most modern editions are Barley, Corn, Coffee, Oranges, Oats, Soybeans, Sugar and Wheat. The classic version has flax, hay, oats, rye, corn, barley, and wheat. Two special cards are also included, the Bull and the Bear. I had forgotten that, Yes I used to play Pit with my family when I was a kid too. Thanks! Link to comment Share on other sites More sharing options...
lowrentyieldmakessense(honest!) Posted December 10, 2009 Report Share Posted December 10, 2009 here it is/was: CGNAO Sep26th 11:33am (2008).. http://www.greenenergyinvestors.com/index....ost&p=62279 1) Liquidate ALL financial assets, ALL assets held on margin and ALL bank deposits in ANY bank in ANY currency ANYWHERE. 2) Hold at least 25% of your net worth in physical gold and silver, either in your direct physical possession or in allocated, segregated and insured storage in a safe jurisdiction. 3) Put the rest in very short term (three months maximum) government debt denominated in EUR or CHF until EITHER a) the European Central Bank lowers rates. OR B ) the European Central Bank stops publishing M3 data OR c) long term German government bond yields exceed the EURO broad money supply (M3) growth rate by at least 2%. If a) or B ) dump the short term government debt immediately and buy bullion regardless of price. If c) sell bullion and short term government debt to buy 30 years German government bonds. cheers and climategate anyone This misconception has been drilled into the collective imagination by a concerted, generational propaganda campaign led by mainstream media, which makes the efforts of the now defunct TASS (Telegraph Agency of the Soviet Union) pale in comparison. Joseph Goebbels famously said "If you tell a lie big enough and keep repeating it, people will eventually come to believe it". The second part of his quote is less famous and more sinister: "The lie can be maintained only for such time as the State can shield the people from the political, economic and/or military consequences of the lie. It thus becomes vitally important for the State to use all of its powers to repress dissent, for the truth is the mortal enemy of the lie, and thus by extension, the truth is the greatest enemy of the State. Link to comment Share on other sites More sharing options...
drbubb Posted December 10, 2009 Author Report Share Posted December 10, 2009 So, should I use my gold and silver to buy a pile of green paper? With Insane government budget deficits, massive printing of money and shrinking gdp how could holding paper possibly be a bad idea? Try telling me something that the whole market doesnt know! As I have said many times: The US dollar merely needs to outrun other currencies, like the Euro, to strengthen. And a strengthening of the dollar will bring waves of deleveraging, as we are seeing now, as the carry trade is unwound. What the market WASNT PAYING ATTENTION TO (and I was monitoring), was that the Euro was vulnerable to a correction, thanks to debt problems of sovereign countries, like Dubai, Greece, Spain, and the Balkan and Baltic countries. If you want to make money, you better know something that the whole market doesnt know! Link to comment Share on other sites More sharing options...
G0ldfinger Posted December 10, 2009 Report Share Posted December 10, 2009 If you want to make money, you better know something that the whole market doesnt know! The market clearly does not know that there will be (hyper-)inflation. Otherwise interest rates would be sky high or central banks would have to monetize more. Link to comment Share on other sites More sharing options...
grumpy-old-man Posted December 10, 2009 Report Share Posted December 10, 2009 The market clearly does not know that there will be (hyper-)inflation. Otherwise interest rates would be sky high or central banks would have to monetize more. agreed imo. Link to comment Share on other sites More sharing options...
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