Not negative on gold, but $1,180 is critical
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Jerry,
I listened to McAlvany latest pod cast on his website and he recommends holding cash and gold. Gold would be physical gold. He does not mention silver but I assume he would include that but some do recommend gold and not silver. But what does he mean by “cash”? In what form. Actual dollars? Banks Cd’s? Treasury bills? Treasury and Corporate Money Market funds? Savings Bonds? What?
This is the poem cited on McAlvany:
Ozymandias
Percy Bysshe Shelley, 1792 – 1822
I met a traveller from an antique land
Who said: “Two vast and trunkless legs of stone
Stand in the desert . . . Near them, on the sand,
Half sunk, a shattered visage lies, whose frown,
And wrinkled lip, and sneer of cold command,
Tell that its sculptor well those passions read
Which yet survive, stamped on these lifeless things,
The hand that mocked them, and the heart that fed:
And on the pedestal these words appear:
‘My name is Ozymandias, king of kings:
Look on my works, ye Mighty, and despair!’
Nothing beside remains. Round the decay
Of that colossal wreck, boundless and bare
The lone and level sands stretch far away.”
Jmiller………..I think he is referring to cash….as dollar bills….., I think he has mentioned the reason for the cash/ dollar bills , it is for daily funding of necessary items, paying for food, gas,ect…………I say this because he has mentioned …BAIL INS ,so that would exclude anything associated with banks…. which we have talked about before, right or wrong time will tell.
OK. Makes sense.
That is it makes sense for someone who is overly paranoid not to have money in the bank.
Oh my………silver $16.95……….better get your shorts in before it is to late…………
The federal Reserve authorities have found themselves in an unhappy predicament, they have lost control. They can’t raise rates and to lower them into more negative territory would give a clear sign of this, it looks like there only option is to print a lot more money and cheapen the dollar. But at some point the defibrillator won’t work anymore.
If stock prices start to fall this will trigger forced selling of margin accounts so clearly they can’t allow the major stock indices to start declining.
ditto……….DT….ON the Fed….
Big support level is $1190. That gets taken out no support until $1140. Losing $1210 was huge.
You can say that again. And 1200 is also major support. When that breaks momentum will carry the day and the last major support will get shattered. So close man…so close. I have no doubts whatsoever we are going down.
NEW TOPIC………….EDUCATION………….ATLANTA TEARCHER, ARE going to get prosecuted for cheating , changing test scores……NO CHILD LEFT BEHIND, means everyone is left behind, with a big FALSE EDUCATION. This will shock the entire nation of the TEACHER’S UNION, and every teacher who has changed test scores….to make the number of children look smarter than possible, watch out…….more to come.
Mi child was stewdent of the munth at Marchin Lootin Gubmint Skool.
And, he/she obviously is doing your composing for you!
I would like to see a source, Jerry. Thanks
PBS…..this morning ….early 6:00am..
“If the dollar or any other fiat currency were universally acceptable at all times, central banks would see no need to hold any gold. The fact that they do indicates that such currencies are not a universal substitute.” —Alan Greenspan, 9/29/2014
Stewart Thomson: “Commercial hedgers (aka the “banksters”) are building what appears to be a historic short position in the dollar…”
Oops, CFS beat me to it…
FYI:
http://www.foreignaffairs.com/articles/142114/alan-greenspan/golden-rule
The central bank view of gold…….it mat not be what you think it is. Note what they,do, not what they say.
I am a simple fellow, retired, ex-military in the middle east, former GE and IBM, so I see things a bit differently. It is not a matter of how much or when on PMs for you and me, but whether or not we have the backbone to stand in the face of evil by men in the fed, banks, governments and other powers doing all in they can to
to win this growing currency war against the west. If they can instill fear in us, they win for the moment as PM’ers flee, and their phony paper money will last for a little
while longer…until Saudi Arabia demands gold and not dollars for the oil we buy and other nations refuse to accept the dollar..none of this takes into consideration
our growing debt (to 22T by ’17) and the dangers of terrorism. They cannot drive me out….I will not run!!!!! Blessings to each of you!
‘simply said’
wyn
Is it really ‘East’ vs ‘West’?
I see good, bad & ugly
on both sides of that
synthetic divide.
Interesting:
The Geopolitical Matrix
http://boardmanland.blogspot.com
FWIW
I too am a simple fellow WH, and am in simple agreement with your sentiments! Best, A
THanks Wyn, that is good!
Looks to me Natural Gas might have bottomed ($NATGAS) as reflected by its price and movement in ETFs. UNG, DCNG.
Sometimes I do not understand the US government.
It is now providing nuclear fuel to Ukraine.
Huh? Nuclear fuel to Ukraine?
I had almost the same reaction as you, Big Al.
DSLV is up 72% in this quarter alone. Isn’t that good enough for anyone here? Why bother buying miners or metals when it comes easy? On a big fat silver platter no less. The dollar is crucifying and murdering precious metals day by day and some guys are eating all the past profits of the metals bugs. And it ain’t over yet kids. The silver longs will scream like stuck pigs before the end comes.
Of course, I will have to admit that there are not many things that give me more satisfaction than when the gold-tards get beaten into oblivion. Good riddance to all of those nut cases! As a group they have done more damage to the mining business than any governments or regulations ever could have. The sooner the extreme elements lose their shirts the sooner the rest of us can get back to the business of gold again and the industry might then have a fair chance to recover and thrive once more. The trial by fire continues…..
Its gonna turn Bird, at what point is the question, my money as you know is on about $1000, hope it doesn’t go that low, might not, but waiting is definatly causeing me to practice patience.
Also, I think once the Chinese have all they figure they require, the price will be allowed to rise.
That of course comes from my belief in manipulation and clues about what the “owners” of the world want.
Tin foil hat stuff.
It’s always best to eschew hate, for killer instinct.
BB i mentioned patience a billion times.. Something bird has lots of.
Your BS meter needs a tuneup, glen. The guy clearly never takes a position in real life.
Kicked your ass at every turn this year. You have not got one right yet except at the start of the year but you went downhill since then. I expect you are broke actually and just posting out of spite these days.
Sorry, I NAILED the June lows too. You did nothing all year but change your mind every other day. Show us all a post where you said that you were buying anything, let alone DSLV. Now go take your meds, Fudd.
Only you brag about what you do Matty boy. That is not my problem.
So where are your happy silver charts today? Learned your lessons yet? Or maybe not.
Silver is an absolute gift at the current price whether it goes lower or not.
Matt,
You make a valid point. With all due respect bird, I have asked you in the past to give some type of number or target or entry point etc. You seem like or come across like a very successful investor. Why not give back to the community?
I really hope you guys just give each other a break for now.
“BB i mentioned patience a billion times.. Something bird has lots of”
Actually that is true, Glenfidish. I did not lose a nickel on gold this long while. Recall I warned many times in the past to only play the volatility and not go long. Most of the money was made short since then. Patience will be rewarded. I would not spend a red cent on gold until this trend plays itself out. The bottom is not yet in and we ARE DEFINITELY IN A BEAR MARKET!
EMBRACE the Gold Bear market,
Let it wring its destruction fully,
Then and only then….will it be “Happy times are here again”.
Just think about those people who listened to the advice of the fear mongers and doomsayers and got out of their IRA’s several years ago just so they could buy physical PMs. Paid taxes on it, took a 10% penalty and then lost about 50%. I remember reading a few people doing that on some of the PM forums. Wonder how they feel now?
Very sad. It is this last bunch who are all talk and do not even participate that make me crazy though. As if we have not heard enough of their false narratives already. This is unquestionably a bear market and there is no telling how badly it will end anymore nor how long before a recovery materializes. Even I did not expect the dollar to soar this high so fast. It is just mind numbing.
JMiller,
These are the same people who won’t sell out for profit during the next gold run high either.
Because they will still believe the SCHILLS who are screaming for $10,000 gold even now in a bear market !!!
…..the only bigger Muppets than the “To Da Moon Schills” …..are the brainwashed followers who hang off their every word.
You need look no further,
Because thats where the TRUE manipulation of the gold market is….BS spoken by those with a financial agenda.
Cheers.
The Canadian dollar is now just above 89 cents US, we haven’t seen the drop at all compared to The US. It’s not a reason to celebrate, but you won’t see me at the beach like Bird wearing a red speedo, and yelling “Raise The Drawbridge.”
I think the Central Bank manipulators are on a treadmill that when/if they ever get off will cause a rhyming of history……..
But in the meantime Bird is right for a while.
NOT NEGATIVE ON GOLD, BUT $1,180 IS CRITICAL
We tend to forget what is being traded and what isn’t. The lions share of trades in metals is not physical but paper and paper is worth very little. At $1180 for a paper ounce of gold and not a real ounce of gold I would say that paper ounces are over priced probably by $1180 an ounce. As for real gold that is another matter entirely and $1180 an ounce is far too cheap. The Silver market has the same problem.
agree with the …..is far to cheap……….
Agreed in the long term,
…..short term though…..its gonna get a heck of a lot cheaper.
A win for those on the sidelines watching atm.
McAlvany has a good piece on the FED…..and gold.