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Paper gold market will crash at Comex
Commodity Online ^
| 02/09/09
Posted on 02/11/2009 7:37:53 PM PST by TigerLikesRooster
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To: TigerLikesRooster; PAR35; AndyJackson; Thane_Banquo; nicksaunt; MadLibDisease; happygrl; ...
2
posted on
02/11/2009 7:38:17 PM PST
by
TigerLikesRooster
(kim jong-il, chia head, ppogri, In Grim Reaper we trust)
To: TigerLikesRooster
Funny but true. Back in 1984 I took an extra $5,000 with me to South Africa so I could buy gold cheeper. You know how that went.
I tried the same thing on diamonds and that did work. But I had to go to the black market.
3
posted on
02/11/2009 7:45:23 PM PST
by
AGreatPer
(Obama is not my president until we see his birth certificate. A real one.)
To: TigerLikesRooster
In the absence of demand for physical, the large institutions have basically been able to keep the price low by selling it back and forth between themselves.
They HAD to do that to make the paper market for stocks and bonds and various instruments look more attractive.
The S is about to HTF.
4
posted on
02/11/2009 7:52:16 PM PST
by
djf
To: TigerLikesRooster
I want to believe Gold Bugs sometimes, but I haven’t seen them be right yet.
I do believe we need to go back to the Gold Standard though. Fiat Currency is a disaster
5
posted on
02/11/2009 7:56:20 PM PST
by
downwdims
(The Borrower is Slave to the Lender)
To: downwdims
Seems they may have been crying wolf one too many times in last three decades. However, things are pretty dire now, and odds are in their favor.
6
posted on
02/11/2009 8:02:38 PM PST
by
TigerLikesRooster
(kim jong-il, chia head, ppogri, In Grim Reaper we trust)
To: downwdims
There really isn’t much difference in the opinion of a gold bug, and someone who says “fiat currency is a disaster.”
7
posted on
02/11/2009 8:03:29 PM PST
by
coloradan
(The US has become a banana republic, except without the bananas - or the republic.)
To: downwdims
I am not a "gold bug", but their case looks pretty damn convincing
the post-Lehman redemption panic gave investors the fire sale price in the low 700s. Since then it's been straight up, with all-time highs in plain sight.
8
posted on
02/11/2009 8:36:00 PM PST
by
FreepShop1
(www.FreepShop.com)
To: downwdims
I’ve been accused of being a goldbug but all I did was follow investment advice. I have money market accounts, bond accounts and very aggressive stock accounts. My gold assets haven’t lost a penny and are in fact up over 100%.
It a hedge against all things that you try to get to. Greed always loses.
To: TigerLikesRooster
10
posted on
02/11/2009 8:59:10 PM PST
by
fso301
To: coloradan
I’m not selling Gold is the difference. And usually the Chicken littles are.
I’m with you TLR, This time might be different.
11
posted on
02/11/2009 9:08:46 PM PST
by
downwdims
(The Borrower is Slave to the Lender)
To: FreepShop1
Gold has been the one commodity (perhaps silver, I haven’t checked it) that behaved that way.
The Gist of this guy’s argument is that gold should breakout to 2k an ounce. Fundamentally he’s correct, but I don’t think the reality will prove it out.
I’m buying gold as part of my portfolio as well, but this is the normal tactic of gold bugs to stoke crazy demand by unsophisticated investors.
12
posted on
02/11/2009 9:15:23 PM PST
by
downwdims
(The Borrower is Slave to the Lender)
To: TigerLikesRooster
I have some gold, too.
Can I ask a silly question?
If our currency ObamaBucks are worthless as our fiat currency isn’t backed by anything, what could we trade it for?
13
posted on
02/11/2009 9:33:11 PM PST
by
wac3rd
(In the end, we all are Conservative, some just need their lives jolted to realize that fact.)
To: wac3rd
They may have to use foreign currency. In the worst case, they could arrange a barter trade.
14
posted on
02/11/2009 9:39:50 PM PST
by
TigerLikesRooster
(kim jong-il, chia head, ppogri, In Grim Reaper we trust)
To: downwdims
The only function of the Federal Reserve should be to use open market operations only to keep the price of gold unchanging. That and drastically reduced corporate and capital gains taxes would suck the world’s industrial base to the United States.
15
posted on
02/11/2009 9:49:55 PM PST
by
arthurus
( H.L. Mencken said, "Every election is a sort of advance auction sale of stolen goods.")
To: coloradan
Fia currency is political currency and is expanded and contracted to suit political desires, not the market.
16
posted on
02/11/2009 9:51:29 PM PST
by
arthurus
( H.L. Mencken said, "Every election is a sort of advance auction sale of stolen goods.")
To: coloradan
Yea, they’re both right...
17
posted on
02/11/2009 10:03:35 PM PST
by
Axenolith
(Government blows, and that which governs least, blows least...)
To: arthurus
They have five mandates. All of them contradictory
18
posted on
02/11/2009 10:21:34 PM PST
by
downwdims
(The Borrower is Slave to the Lender)
To: TigerLikesRooster
Once the fanatical Iranian dictatorship announces they have nuclear weapons (thanks to the Kremlin), gold, silver and most likely platinum will be jolted upward, based on the fear factor.
19
posted on
02/11/2009 10:25:56 PM PST
by
M. Espinola
(Freedom is not 'free'.)
To: TigerLikesRooster
*que Indiana Jones theme*
20
posted on
02/11/2009 10:28:01 PM PST
by
Xenophon450
(Through false sensory perceptions of the flesh, you paint without colours on a canvas blank.)
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