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Is the bottoming process for gold almost done

December 3, 2014

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Discussion
24 Comments
    Dec 03, 2014 03:29 AM

    they will raise rates by mid 2015… remember banks need to make money…
    gold continues up…

      Dec 03, 2014 03:58 AM

      Thanks Sally, but please explain your rationale.

      Dec 03, 2014 03:17 PM

      In my opinion there is No Way they can raise rates in mid 2015 or we won’t be able to service our debt and the house of cards comes down.

      The banks are making a ton of money borrowing it at 0% and investing it for 10-20% gains in the market. This can go on longer than we can imagine.

      Dec 03, 2014 03:04 PM

      Governments and home owners owe too much fiat currency relative to their incomes to allow rate increases. The only way to defuze the debt bomb is to gradually pay down debt while not contracting more debt and creating debt free currency if need be to keep the economy functioning during the process of working off the debt. Any other approach would be disasterous. As for gold and silver prices let them rise. It isn’t as if the fiat currency in circulation is backed by metal any way.

        Dec 03, 2014 03:32 PM

        agreed.

      bj
      Dec 03, 2014 03:48 PM

      The banks get free money from the Fed at 0% and buy US debt at pays 1- 3% more or less. That’s the spread, and that’s how they make a good share of their money.

      When Glass Steagal was in effect, the banks made money by being the engines for economic growth on Main Street. After the repeal of Glass Steagal (by the Republican House and Senate and Democratic White House), they’ve become nothing more than parasites that programed super computers for high frequency trading at the speed of light to skim FED injected money off the top of the ‘markets’ on Wall Street. And when it all blew up, they are too big to fail or jail.

      And if you don’t think it can get worse, yet again we have a Republican Congress and Democratic President. Lord help us! And so it goes until there is nothing left of the dollar or much of anything else.

    Dec 03, 2014 03:41 AM

    Sally huh???!! THEY CANT for a myriad of reasons…research more..:)

    Dec 03, 2014 03:46 AM

    They can NEVER raise rates and they know it.

    Banks are maing money hand over fist without raising rates.

    There is no exit strategy and they know it.

    All they can do is jawbone for a while until their bluff is called .

    Tomorrows claim report and fridays non farm payroll will show how things are slowing down.

    Part time seasonal work at best

    CFS
    Dec 03, 2014 03:11 AM

    A weakening in the inverse correlation between the dollar and gold is merely indicative that current demand in gold is coming from countries that do not use dollars.
    outside of demand-supply considerations, there will always be an dollar-gold inverse correlation.

      Dec 03, 2014 03:05 PM

      The inverse correlation is much greater if you compare gold to the dollar in your pocket rather than to the dollar as measured by other currencies. The USDX first hit 80 over 20 years ago. Since gold is up 3x since then, shouldn’t the dollar be down by two-thirds instead of UP 11%? The dollars in our pockets are down by two thirds in purchasing power while the USDX looks “strong” only because it is measured in paper that is losing value at a faster rate.

        Dec 03, 2014 03:22 PM

        Good point, Matthew…couldn’t say that better myself.

      Dec 03, 2014 03:33 PM

      Bingo.

    Dec 03, 2014 03:12 AM

    Dow your really think PEOPLE move the market ? Common ?

    Dec 03, 2014 03:02 PM

    I looked at this YouTube video above
    The pope says “this helps strengthen our fraternity”

    Interesting choice of words.

    You can’t be brothers unless you have the same father

    I will leave it at that

    bb
    Dec 03, 2014 03:53 PM

    I thought it was Jesuits Franky didn’t like.

    Dec 03, 2014 03:12 PM

    ALERT!!!
    Big sell detected GDX
    16:02 $17,72 1.388.303 shares at 1 dollar a share cheaper.

    FIH
    Dec 03, 2014 03:08 PM

    Big Al: Would you consider devoting a regular segment featuring the “Dynamic Duo” of Chris and Roger in a “conversation” between them, setting. They both seem to have a most interesting concept of “Timing” which seems to fit between Day Trading and the longer term “Big Picture. Highest Regards, FIH.

    bb
    Dec 03, 2014 03:44 PM

    I thought the “church” stayed wealthy due to about a billion people giving 10% of their income.
    Other things as well of course, but that’s not a bad base to build from.