Starting with Gary
Click download link to listen on this device: Download Show
This one’s good too:
http://howestreet.com/2015/01/suddenly-not-a-bad-environment-for-gold-miners/
Thanks Matthew
No problem if John does not mind.
What is the link?
I should have listed to myself and sold, instead of hold with this excessive bullishness going on on this board. You get raped as soon as everyone screams to da moon. FML. Note to self buy when blood runs on street sell when to da moon talk comes up.
This is a blip, Stewie; just a shakeout and resetting of expectations/sentiment in my opinion. Could it turn into something worse? Yes, but I am betting against it.
Hope you’re right cause next thing i’ll see is 10% drop in gdxj after those two days.
I was hoping for 1347 and then unload my position. I do also think there is a chance we’re in 3/4 of the rally but if this turns out to be bear rally it WILL stop at that shooting star candle i pointed out. I hate it when i’m right and i don’t execute on my own plan. It sucks and i make the same mistake over and over. I never sell. I hold and buy.
I usually place a sell order and never adjust it even price goes up or down. It will be executed without my emotion involved. I sold a few hundred CEF.A yesterday since in canadian dollar, it went up a lot. My order was executed.
Stewie I concur with Matt..
If you can’t stomach it, play it the way LPG did. Trim Trim Trim..
I believe firmly we are ok here thus far. Buy into fear and red..
Thanks matt and glen. Drop is not significant enough to buy it and also we’re close to daily cycle top or at it so buys here for me are no no. That’s the problem.
Hubbard mentioned that with further pull back possible bull flag is forming on the which would concur with at least 1347. He said 1430 but im not sure if that was misspoken as he drew 1347 on chart.
http://www.superforcesignals.com/video/2015jan22goldpausepop/2015jan22goldpausepop.html
Who is going to sell big with the Greece vote coming up……..
Excessive bullishness Stewie? You were right out front of the parade telling everyone to get onboard because we were going to 1350….now you say the bulls are excessive? What about all those posts about what a great investment gold is and how it holds buying power over time and blah blah blah. Sheesh!
hahahah…you have selective hearing. Yes at very bottom i was and i bought 2x my original position so i trippled up. Since we got shooting star and i saw bullish sentiment i wanted to sell the new. I didn’t and i’m kicking myself in the butt for it.
BTW birdam you are on wrong side of the trade and based on what you been saying it will be the case going forward. $1000 gold is not happening ever again. The sooner you get that the better off you will be but good luck bro.
I am not on the wrong side of the trade. It is a pretty rare event actually. Not that it never happens but I have an exit strategy even if it does. Anyway….what the hell do you care? Just do your own gig and keep blowing smoke. Not my business.
Here’s a flashback Stewie (since you can’t even recall what you write)
On January 20, 2015 at 3:22 pm,
stewie says:
hahahah trollin trollin trollin birdman keep on trollin lol
————————-
That was in response to me saying that the current rise was a head fake and that gold was about to turn down. You were pretty bullish there buddy. And calling me a Troll was out of line. If you lost a few bucks you deserve it in my opinion since you talk like a Jacka$$.
Calling you a troll was hardly out of line. You’re always looking for someone to fight with.
When you take on everyone on a site, you’re obviously trolling and Stewie was right to call a spade a spade.
On January 18, 2015 at 12:06 am,
Birdman says:
The bottom line here is this…..gold is a relic. And not one single person on this site has yet been able to prove otherwise. You guys are all full of pork and beans. A bunch of smoke and hot air.
Reply to this comment
On January 18, 2015 at 1:00 pm,
stewie says:
hahahah after this statement you’re just a troll and nothing more!
imo, Bird is right, just a little to soon, the world is not ready to give up the old ways yet, but they will.
Very funny stuff guys……..keep it up
Stewie: Not sure where you get you gold predictions from but gold is going below $1000….I spend a fair bit $ on someone that has called golds up downs and the real estate and DOW accurately..for years….Just wait….He says this is that last opp to exit…and in summer before it tanked in the fall recommendation was to run….
We will see whos write but our track record is 2nd to none….
Bill,
Not trying to be snaky or rude but, instead of telling all of us you spend a fair bit of money (meaning a lot), on a particular nameless guru that is all knowing, why don’t you tell us the name of this guru to add some authenticity his/her prediction.
After all if this person is all you say they are, I’m sure they would love the publicity and want to receive credit where credit is due.
I’m sure you did not sign a confidentiality agreement to not mention his/her name in public.
only back and fill………….
Don’t believe that you hear a lot of “to da moon” on this site.
You obviously don’t spend a lot of time reading your own blog.
+1 Irwin
No one in hear has said to the moon. Gary and Bird need to stop addressing that everyone has a gold cap on. It is one thing to be gold bug another to read a chart and be realistic of where expectations are going. Thus far me and Matt have been pretty good this despite 100 dollar drop warning issued yesterday or day before.
Geeze to da moon would imply it’s going to 2000 this year. No one has said that.
If I recall it right you were amongst the mockers last week who were saying anyone not buying was going to miss out big time. Because metals had bottomed and were going much higher. That the people on the sidelines were making a mistake. Where is all the glory talk today?
Gold was 80 or more dollars cheaper last week. Those who didn’t buy DID miss out big time. The people on the sidelines DID make a mistake.
?????
As usual you don’t know what you are talking about. Gold was 80 dollars lower more than two weeks ago.
Wrong as usual BM. Gold opened last week at 1223. It then went as high as 1307.80. That’s a move of $84.80.
Your measures are always from the very lowest point to the absolute peak. I was discussing today’s number at time of posting which was1293 and that means 80 dollars lower was at 1213. My post is times just a couple minutes after yours.
And just in case you don’t know, the vast majority cannot time the exact bottom nor the exact top never mind both so you wasted your breathe on that post. Truth is that over 75% of the people who invest for themselves lose money.
Even the experts don’t time to perfect tops and bottoms. So there are fewer who missed out on the gains than your post suggests. Most have held on in hopes prices go higher and their gains will not reflect your rosy Maximus Goldus Profitus.
Sometimes you really know how to waste everyone’s time with your silly calculations.
Nooo, I chose the opening price which is what you do. If I had chosen the lowest possible price, the move would’ve been $90.30. So, wrong again.
In the context of your complaint, it is wrong to use 1293 and correct to use the highest potential price one could have got —1307.80.
You waste everyone’s time with your constant negativity and attitude.
FAIL
I still believe we are going higher. Unlike you im here when up and down. There is no where to find you when gold is up, but when there is a down day you come out punching. I concur that you are a troll and now your not worth a breath. This board is filled with many investors/astute people and had no troubles while you were gone. The moment show up all hell breaks loose.
Im beginning to think you really are like the banker Matt put up on the youtube link. And to think I gave you the benefit of the doubt. Once it smells rotten, it will always be rotten.
Never argue with a sociopath. Never.
I agree Brian. We don’t see many posts like that one from Glen. But as usual people need someone to blame when they are losing money. Since they cannot accept gold is falling (when they KNEW it was supposed to go up) they turn to calling people Trolls. Kind of funny. Hey Glen, being a gold bear only means I took the other side of the trade. There is no market otherwise so why not can it?
Al –
You are right on the money. We are not out of this and all the talk to the contrary is just political speak and wishful thinking. Look everyone: the emporer isn’t wearing any clothes!
I personally don’t see how it could be any different, Phil.
BIRD…..Question ?…..Are you one of the 75% ?…& if that’s the case , is that why you live in a poor country ? !!!!!
Ha Ha Ha! You are priceless Irish. I won’t get into that one because its such a loaded question and we all know where you are going with it. But my record speaks for itself and I get it better than most here.
Thanks..BIRD….As you know , I am just having a laugh, by trying to ruffle your feathers haha
Cory,
Keep in mind the Fed is reinvesting the proceeds of its bond portfolio…
To my calculations, it’s small, but it’s probably about $50-100bn they put back into the market (annualized).
My 2 cts,
LPG
Very good point LPG, The Fed continues to roll over its assets. The Fed is a long way off from actually unwinding it’s balance sheet but I continue to think we will have to see major collapses or defaults in other markets around the world before the US will falter.
Meant to say the “interest collected” from its bond portfolio. Not the proceeds.
My apologies for the mess-up in terminology.
Best,
LPG
We can’t glorify war. Real sniper was killed by another vet. 75% of all
homeless people are vets who are mentally lost. We need to quit
sending our sons and daughters to fight stupid wars. The real question
should be–who really wins from all the death and destruction. Not you
or I. Since WW2, we have either tied or lost them all. GREAT TRACK RECORD.
+1
“WAR is a racket. It always has been.”
http://www.ratical.org/ratville/CAH/warisaracket.html#c1
+2
“media propaganda”
+3
+45678910…BOB , You get it , What pisses me off is people call these solders “HEROS”
IMO they are not “HERO’S …They are victims of the powers that be.
Good thoughts Bob.
I often think about this quote, when comes to war: (quoted here approximately, but the spirit is there)
“War is done by people who don’t know each other but kill each other, on behalf of people who know each other but don’t kill each other.”
Best to you,
LPG
+10
A thought on war, I think we came close to ending them, in 1914 when the brits and Germans came out of their trenches and decided to play soccer.
Started with both sides singing the same christmas carols if I recall correctly.
In any case, the generals put an end to it, but I like to think we came close that day.
LPG…+1000000000000000000000000000000000000000000000000000000000000000000000
ooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo
0000000000000000000000000000000000000000000000000000000000000000000000000000
Well said!
Bob,
I just saw American Sniper yesterday.
I happen to completely agree with you. Your thoughts and my thoughts, in my opinion, do not contradict the meaning of this movie at all.
I walked out of it being really pissed off at our government.
I think that the man was a true hero because he was put into a position where he was given little choice. I know that people can say that he should have never enlisted, but that really was not an option for him. He loved America and with the propaganda he could have felt no different. I certainly do not blame him at all. He did what he thought was honorable.
Based on what I saw of the guy in interviews, I’d say he just wanted to get some trigger time. He did not strike me as someone who would think twice about what he was doing.
Matthew
That’s what he was trained to do. The last thing you want is somebody who has second thoughts. That’s how guys on your side die. Carlos Hathcock said it best
Hathcock said in a book written about his career as a sniper: “I like shooting, and I love hunting. But I never did enjoy killing anybody. It’s my job. If I don’t get those bastards, then they’re gonna kill a lot of these kids dressed up like Marines. That’s the way I look at it.”
I understand that, Matt, but this guy seemed to love it. I wouldn’t say that about every sniper. As for thinking twice, I meant big picture, before or after the fact —not second thoughts while working.
Could not agree more Bob! We need to protect ourselves and stop attacking other countries.
+ 11 Bob
Great comment!
I really like the Aden sisters analysis (I was a subscriber for years, until last summer)
Great analysis (IMO) on gold123. Stay above $1265 = VERY GOOD, Stay above $1300 -= GREAT.
http://www.321gold.com/editorials/aden/aden012315.html
Brian
Mary Ann and Pam are two very nice ladies!
I fail to see the relevance of “nice” to knowledge.
They are good but in that article that you linked to I hesitate to think that we are going to see inflation in a broad sense kick up in the near term. As for gold they bring up a good point that through 2014 it dropped 1.5%. That’s not much and I think truly shows a bottoming process.
Cory
The main reason I linked the article is that they use two primary TA indicators, different from the DOC/GARY/RICK: 23 Month and 65 week Moving Averages. The support resistance areas ($1265/$1300) are different from the $1350 and $1250 I have been hearing on this site. It will be interesting to see which of these values (if any) truly shows support/resistance over the next weeks and months
Brian
Here’s a chart that I first put up months ago. By the market reactions at the level, you can see that 1268 has some support/resistance significance. Right now, it just happens to also be where the 55 week EMA finds itself.
http://stockcharts.com/h-sc/ui?s=$GOLD&p=W&yr=1&mn=9&dy=0&id=p99863085611&a=361926967
Coincidentally, it has a little more significance now that it’s intersecting a pitchfork trigger line nearby (blue arrow):
http://stockcharts.com/h-sc/ui?s=$GOLD&p=D&yr=1&mn=6&dy=0&id=p95058263362&a=370667893
XOP makes no sense. I hope it comes back down to around 43. Just keeps going up with oil so weak. I should have kept my position I sold at much lower prices. Picked up some UYM materials etf near the bottom today on the sharp drop and more GDX.
Paul, I am also frustrated by this fact. Some large entities are buying like crazy I guess. It cannot be retail investors because we retail investors are like mob, always panick. This is unreal. Most of my oil stocks is still at the level when oil was around 70. I have so many orders but none get filled. Damn.
Nothing can propel the mines and metals higher from here. Back to new lows soon.
Tom,
Look at the volume on the drop. Im expecting once everyone has been fed and appetite content, shorts will let it go and bulls will jump in. I sense Mark is on the ball.
I don’t agree but that is makes life interesting!
THERE IS NO NEED FOR GOLD TO BE DOWN TODAY……….ON NO NEWS………..watch closely at 1:30 EST how they play with the price around that time at the comex close, and then watch them let the price of gold and silver rise into the close of the after market of 5:15 EST……..JUST WATCH !!!!!
We will be watching Mark!
I think Mark is kind of right.
What looks like a double bottom on copper might suggest that it is rising with equities come Monday and gold will be pressed lower if the equities/gold relationship holds. We also got a fat outside day on platinum so its run should also be over.
I really think that gold will be capped below $1300 for the weekly charts. My guess is that there will be another rise in gold next week. Personally, I have started to build a position in JNUG today
Brian
$1300 the battle begins again………………..
Gold is going to meander its way back to 1200 at the minimum. I would not be betting long here but each to his own. Unless we get a really negative market reaction out of the Greek vote of the dollar suddenly slumps it still looks like a gold bear to me.
At this juncture, price makes little difference to me, Bird!
Gold is going up against other currencies………EU and Canadian dollar…….Zerohedge has an article detailing this event.
The US Dollar is rising against all currencies too.
Silver is holding up in EURO,s!!!!!!!!!!!!!
I do not see 1200……..but, long term who cares…………………gold is going much higher.
Matter of fact……………600 gold to 1200 gold is a double………………
400 to 1200 is a triple………….need I go on………….
Are you short here Bird?
GOLD WILL GO UP WITH THE GREEK VOTE ON SUNDAY……………….but will be killed by the close next Friday !!!
Given its overbought reading, that sounds reasonable. Gold moved up $82 in the last five sessions. Will we see another similar move next week? It would not surprise me. If so, we could see gold and the dollar come down together.
I think there’s also the Fed next week (27-28th).
Maybe the perfect storm, as often in the past few quarters.
GL to all investing/trading.
LPG
Good luck………….is where preparation meets opportunity……….
JERRY…..DONT confuse them.
Irish….I left a question for you below………………..j
I hope you are right Mark, but it is probably already baked into the price.
Just added some XOP on the dip. I sold yesterday on a $1 gain. I think I need to hold long term.
YEMAN ….FALLS……………………….is this considered a BLACK SWAN……
It is not good news depending on the intent of the power play. Yemen is at a strategic geographic pinch point where rebels could interrupt cargo ships destined for the Suez or passing through to the gulf of Aden Asia bound. Watch for Egypt to get involved if there is any activity that denies them one of their primary sources of revenue. I don’t think that is really the worry at this time but nobody wants to see more instability in that region right now.
Next might be Saudi Kingdom….ISIS does not like anything American…., and with Yemen next door things could be getting active………………………
The old king dies……….Yemen falls……can the new king handle the pressure………
“NO”.
Your right Bird, The Yemen position is extremely significant, I wonder if the Americans move in.
The Chinese gotta be watching with interest as well, I would imagine a lot of people are.
I am glad I brought it up…………………..j
Here is another “Stewie” from a few days ago……
On January 20, 2015 at 7:29 pm,
stewie says:
Gary this is what happens when one buys into despair and goes against the grain.
We should be getting pretty euphoric in next few trading sessions and then boom i sell and wait for correction to play it’s role.
—————
And then boom he says. OK, maybe that is not “to da moon” but close enough.
You read my comments selectively whichever fit your agenda and you do have one. I have on friday and on Monday pointed out possible topping. There are people on yahoo forums that get paid to troll so do speak. You seem to convince me you are paid dude to troll gold. I notice patterns in people when they say things selectively to find their troll agenda.
The last desperate defense of the typical goldbug who has been called on the carpet and shown to be in error is to call the other person a Troll in order to minimize their comments and in an attempt to improve their own stature amongst the gold devotees. It is really predictable but is verges on pathetic.
BIRD….When you are proven to be wrong…Will you eat crow ?..I have a great relish , handed down from my gran…it may help .
LOL…..bro if you really are true short why didn’t you short gold on money. Show us you short gold then? I mean you would have made a fortune on the way down. I mean fortune and fast too. SHOW US YOUR SHORTS.
Good grief, go back and do a review of older posts. I have two years of positions this site that tell you exactly what I was doling and which side of the trade I took. You boys sure get riled up when the trade does not go your way. Where’s all the rah, rah rah and pom-poms now?
BIRD…..STOP IT .
This should have come up under Bird -stewie comment.
And here is a Glen mocking the Al and the analysts who were on the sideline…
On January 20, 2015 at 8:49 am,
glenfidish says:
(stocks) absolutely on fire! Sidelines must suck.
—————–
No “to da moon” comment there either. Just a lot of BS and bluster.
Actually it was intended for you since your “Never invested” and never show your hand but conveniently run your mouth.
How about we pull up all your post regarding silver has bottomed and then reversing your call that now the bottoms are not in. Your pure drama.
How about we post your call yesterday that any moment we will have a 100 dollar drop. etc etc.
Post all my calls. The good ones and the wrong ones too. I like that attention!
I have exited my position entirely. Hesitation has cost me $3,000. We topped temporary. Retracement will be to 1250 at least as doc pointed out. At worst 1220. Good luck.
Overconfidence and cockiness can ruin your game.
Yeah lately i’ve been little cocky. I admit it. It feels good to get at bottom and get this nice pop rally. Miners are acting weird so i don’t like it so i’m out until we correct RSI to nice lower levels, then i’m back in again. I should have stuck to my guns but whatever. It is what it is.
GOLD UP 21.8% against the euro……………zerohedge
Gold is up 24% from November low and 16% from the start of the year against Canadian dollar. Silver is up more. PM has been working for me.
ditto
if you want to figure the overnite low of $14.10…….that would be close to 30%
and that would only go back a couple of months……..
Friends, I remember people would cry uncle everytime US dollar rises. They believe that strong $ will hurt US export and industry. In this surge of US dollar, which far stronger than before, I did not see anyone even brought this up. Has anyone seen any well know economist talking about this topic? It is dramatic change of opinion.
Not yet……………..
What is silver price in euro terms……………….anybody………..
IRISH……………..you should know this one………………………….j
540 EURO !
1 KILO 540 EURO !
franky……………what is the increase in euros from last year to this year……thanks j
1 a KLOCK NOW ! OK ! i finge a CHATEAU Gevrey chambertin 2005 I THINK THE LOW 420 EURO 1 KILO
Thanks………………….nice increase……………………….j
Enjoy the wine…………………………..cheers…………………j
This appears to be the beginning of the gold correction I was mentioning over the week. It should continue into next week and possibly see a challenge of the 1250 figure. The stocks are technically advertising it due to the TA of a lot of them. I began to lighten up on some selective positions yesterday but will keep some of the ones I’ve held for weeks. Also looking to add to others on the pullback and purchase some I’ve missed at their lows in the past. We’ll see if this is just a correction or something more serious by February. My bet at this time is a correction unless the TA ultimately signals something more serious. A lot of the PM stocks could move back to their lows but not lower while some still have a risk of a little more to the downside.
Except regular month end manipulation, I don’t see this is particularly obvious. from January to march, it could be the strongest season for gold. I guess if we don’t have strong commitment, we will get out their position with a small profit. We end up eating a fish tail.
DOC…1250 I can not see it myself….but I have been wrong many times in the past.
Doc, you could be right, and there could be money to be made in trading the stocks, but my guess is a person owning goldshares need only close their eyes and look a few months down the road and I bet they make money too.
BB; I believe you’re correct. There are some stocks I will no longer sell while there are others I’ll pick up on this correction for a number of technical reasons. Look at a company we featured on our newsletter, Claude Resources. It actually closed up a little today while other companies pulled back. I’m hoping Claude pulls back since I’ll add to my position—-not investment advice.
I understand Doc, I just see a lot of trading discussion on here,(rightfully so) and a new person might find it hard to “catch up”, I was thinking not everyone (like me) trades, its tuff, but we really don’t need to trade daily, not during a bull.
Last bull, my good example, was cuu, it went up 50x from 5 cents, this one is a perfect example of “close your eyes”, if a person watched it, they sold waaayy to soon.
Just with so much trading discussion, I guess I just tried to say, there is more than one way to “skin this cat”.
I only trade on stocks that I feel I don’t want to hold long term and appear technically ready for a run. There are others that I’m slowly accumulating for the long haul that I’ll hold for the coming months and years.
Hello Richard,
Hope all’s well.
Your comment re: holding for the coming months and years got me thinking of the following.
Me think we will see a pick up in M&A activity in the PM sector this year.
If the majors and the best of the mid-tear producers start to contemplate we’re close to the bottom or have bottomed, they’ll start their asset hunt in mass very very soon. With interest rates still low, that’s still a conducive environment for M&A, IMHO.
I don’t think some of the companies I own will be around in a few years as I believe they will end up being bought – which in a way makes me sad as I believe some of them have great assets.
Best to you & GL to all investing/trading.
LPG
LPG; I couldn’t agree more. I believe this year will be the year of multiple junior bankruptcies along with M&A. It will be the “washout” year.
Thank God for that. This has gone on long enough to make all of us a little crazy.
If you’re long on metals, you’re wrong on metals.
Nuff said
I think you need to pray ! repent ! TO JESUS !
That’s funny Frankie.
Maybe it’s Jesus telling me , to tell You!
Ha Ha. Jesus doesn’t care about gold, Franky!
Chartster, you’re a poet. 🙂
Best to you and GL investing/trading.
LPG
He nuff and he puffed,,,,but, could not blow the house down………………..lol
Yeah , okay
Talk to me in the next week or two ” cream Puffed “
chartster , thanks for the “input”………………..j
Are you short, Chartster, or just waiting for the plunge so you can buy?
Pretty bold to be bearish gold
Hope you’re not too old to join the paper bug fold!
Matthew,
I am waiting for it to bottom. And 1130 ain’t it! No matter what y’all say.
It will happen just like I said it would. However I did have the ” when it would happen, wrong “
If you’re very confident about it, why not short it or buy puts?
Thanks for the reply.
Waiting on the big turn.
I’m ok with patience
I swear there are paid bashers here. For all that don’t know how to spot one. If someone keeps repeating same thing and bashing gold when it goes up and goes down but never talks about entering or exiting position THAT’S PAID TROLL. They get paid by JPM and other banks for bashing the sentiment out.
NICE stewie ! ( JAMES STEWART ? ) ????? BUY GOLD !
lol stewie !
That is pretty funny….. Stewie, there are two sides to every market though. We can’t all be gold bulls. Just be glad for it because you can’t make money unless someone else is on the other end of the trade.
Are those who are bearish on metals also bearish on non- U.S. miners who are in production? Oil is under 50$ a barrel and these miners are paying most of their expenses in a currency other than USD while the USD price of gold rises. Consider Detour, one of the largest Canadian miners. Their AISC isn’t low (around 1150$, I believe). On the other hand, with the Canadian dollar somewhere in the neighborhood of 82-83 cents USD, the Canadian dollar price that they receive for their gold is skyrocketing. And I subscribe to a newsletter that says that Detour pays 90% of its costs in CDN. Not sure the exact price that they receive for their gold, but the Vancouver Bullion Exchange is paying 1605$ CDN for maple leafs today. And Detour has over a half million ounces a year of production… So if they have a AISC of around 1150$, have over 500K ounces of annual production, and are receiving say 1550$ an ounce for their gold, what’s not to like? Also, consider the fact that there are any number of producers who have a AISC below Detour’s who also have mines outside of the United States.
I like the low cost producers in Canada and select other non U.S. jurisdictions on pullbacks
That’s a great point Andrew. What I am looking forward to is when the Loonie bottoms because it is my belief that is when the resource trades will start to pick up. In other words, gold should be rising with the Canadian dollar and the miners. When that happens is anybodies guess but I think you will see a lot of activity as the USD begins to fall later and capital shifts to the currencies with the most upside. That means almost by definition that the TSX will get a big boost.
OK 1 THIME MORE ! https://www.youtube.com/watch?v=KupQQXJIMPY
Some good gold analysis :
http://silver-and-gold-prices.goldprice.org/2015/01/gold-price-has-now-closed-two-weeks.html
Your eyes should be trained on what’s happening with The Central Banks they are telling you we aren’t in control anymore, The US dollar is going parabolic, Europe is practicing currency debasement and Canada is dropping rates, all the while Abenomics has failed and Russia has a severe currency crisis. What does this tell you, open your eyes.
Most of you posters are so wrapped up in your own problems that you are missing the big picture. Low rates have choked the system and there is no way out.
Bob M is one of the few people who talk about the derivatives casino which has been created by allowing the interest rates to remain at historic lows and causing a huge speculation bubble by keeping them there over many years. It has also caused excessive stock market gambling and a monstrous debt bubble.
Actually DT, the debt is so massive that nothing going forward is going to be able to sidestep this catastrophic situation.
Everything as it stands now is a subservient derivative of the unpayable debt paradigm.
It will not be only banks, cities and municipalities that will implode as this global default black-hole gains speed……………………….we are talking about entire nations and the governing class of those countries will be lost before this reversion to the mean has met its mathematical end point.
The world as we’ve known it is toast, now its just the timelines in questions as I’ve said many times before.
V
Vortex, why couldn’t gold just be revalued to pay the debt, at least to pay enough off leaving the remainder serviceable?
I would agree tho that another system has to be implemented.
BB,
Because gold, in and of itself is not the answer to the worlds debt problem and a new path to sustainability. A new awakening of human consciousness goes far beyond monetary instruments and materialistic nonsense.
An inflated arbitrary gold price of say $10,000 – $50,000 (whatever number you want) an ounce would only be a temporary and illusionary price band aid or fix to an unchanged deplorable human condition that would remain in place but continues to lack any true morale based foundation.
Anyone who thinks that by revaluing gold would be the magic elixir for what ails the world or a debt clearing panacea is stunningly foolish and utterly naive!
The very entrenched demonic political institutions, entrenched broken financial systems, entrenched global war machine and the entrenched elite bloodlines that run the system for their personal benefit must be rooted out and topped and a full restructuring from the ground up.
What is so hard and mind blowing for the average gold bug to understand or even believe to start with is that a gold standard is actually what the ruling elite desire in some form. It’s true! They fool, misdirect and propagandize the dumbed-down public into thinking they despise the thought of a gold standard, but in actuality the 1% – 2% of the world’s richest families whom already own, possess and control 85% of the world’s assets, also own and privately store thousands of tons of gold for themselves and their historical legacy and progeny.
For them to also control the institutions, banks and politicians that would form the backbone of the architecture for a world gold standard would lead to an even greater dark age.
Moving to revalue gold and institute a hard structured gold standard would only serve to imprison and enslave the world populations to an even greater degree than we already are. The worlds ruling elite have it all and they would still own everything and everyone and would harness even greater power to dictate everything in gold terms as a financial entity.
The only option is a dismantling of the system, and trillions of dollars in debts defaulted upon and forgiven. But most importantly, the people who are responsible for these heinous acts against humanity must be removed from power, family wealth stripped and returned the national treasuries and the rule of law reinstated across the globe and world banking structure rebuild as mundane public utilities as their were meant be by in their original form.
Anything short of these drastic options that address the very core of the dark heart of humanities elite families and their immense power over the world, its populations and industry is a fools dream and a fraud.
Gold does indeed have a place and we all should own some quantity of this true real money, but it and it alone while even being revalued is not the answer!
V
ditto on the 4th. paragraph………………………………
Well Said Vortex.
I agree completely.
I have been saying for some time we need an entirely new system, what that is I have no idea, the world might not be ready for it yet but I do think that discussions about it play a part in its development.
Guys thinking of going long JDST or DSLV on Monday depending how monday morning shapes up. Doc pointed out commercial (JPM & co) shorts in COT have increased. 100 pts rally, topping, resistance. Could be nice move on the other side.
‘If I were Greek, I’d be tempted to vote for the Marxist’
I don’t know how “da boyz” feel about posting links to other sites, but I enjoyed this writing by John Rubino on gold in Euro & C$.