China is playing a huge role says Jay Taylor
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All the viewers here know that gold is being manipulated…so what are we gonna do about it???
Still money to be made if you are a trader Tom.
I personally don’t really care because we hold gold and silver for entirely different reasons.
Gold and silver are really interesting to me because I am convinced that they both provide great barometers on world conditions.
What you do about it is buy and take delivery and never accept long delays since this means that the dealer has shorted the metal and added to your risk.
Storage in a private vault (non-bank, non-COMEX) qualifies as taking delivery.
Yes it certainly does Matthew!
Thanks Matthew
Need more “Douche Burger ” recipes to lift the price of gold.
http://www.slate.com/articles/health_and_science/explainer/2012/07/the_666_gold_wrapped_douche_burger_is_it_safe_to_eat_gold_.html
Thanks SilverFox, but please tell me why this is relevant to this site.
Al, I think Silverfox with this article just disproved the argument that you cant eat gold. Since we have all heard the argument of how useless it is as it cant even be eatin, now we can say “oooo yes it can” lol
For all the good it does anyone. Sorta interesting I guss.
I guess you can. But my question remains, so what?
Al,
I strongly recommend you start inviting celebrity chefs and promoting recipes that uses gold as an ingredient. I mean, that could help lift the POG, don’t you think?
Silverfox, I gotta admit, that is kinda funny.
For me, as I am obviously insane, I will leave to my kids and grandkids useless pieces of gold. I find that currency just sorta losses its purchasing power over time, so I prefer to leave gold and maybe a few other pointless odds and ends.
Actually, silverfox, I believe you are missing the point of gold and not understanding its use.
Gee b, do you really think he or maybe she is missing the point?
Darn, bit my tongue again!
Yawn, yawn…..zzzzzzzzzz
SF,
Your enjoying yourself that is FOR SURE!….Good for you…HOWEVER, the fight is never over until the other 5 to 6 billion have their say from the Eurasian zone, CHINDIA, BRICS add any others you want….the WRITING IS ON THE WALL!! Congrats on SHORT TERM SUCCESS. You called it and you should be rewarded. But be careful what Pierre Lasonde says: What did he say?! I will let you research that yourself.
Notice that he doesn’t have the confidence to answer the questions I posed to him yesterday. Here they are again, SFox:
1) Should we still be out of the resource industry?
2) Is the bull market for gold/silver over?
3) What, if anything, would have the potential to turn you bullish if you are still not bullish now?
Never mind, I see that you pretty much answered all three when you said: “Gold prices going higher EVENTUALLY. Maybe in 2040 or 2055.”
I didn’t know that you’re a comedian.
Whether gold prices going up or not – is almost a irreverent question for most on this website. Why?? Because ALMOST all of them lost their shirt in current downtrend.
Bigger question to you: Do you have money left to invest?
Yes I do, and I continue to buy miners and some silver. Gold will underperform the rest of the sector for several years in my opinion.
By the way, before the crash in April, I was buying silver for as much as $30. My average price is in the single digits but I now view sub-$20 the way I used view sub-$10. Until the downtrend ends, one does have to be psychologically prepared for $14-$15 silver, but I think it is possible, not probable.
Yes and plenty at that.
@ SD Marc
I couldn’t resist .. are you referring to this quote? -it’s one of my favourites 🙂
Bullion doesn’t pay interest or dividends, nor does it grow or expand by itself. That’s the price you pay for tranquillity.
~Pierre Lassonde
agree irwin !
Thanks Irwin, my thoughts exactly!
No, BUT….I love that quote..thk u Irwin!
I couldnt find it to post it but Im sure I read an article in the last couple days saying the German government was intending to look into PM price manipulation.
@Tom, there is nothing anyone in the west are going to do that isnt already being done. The people that intended to make the manipulaters pay were the Chinese. Some very wealthy people in Asia realised they were being had a few years ago, they said, they were not going to charge them criminaly or even make a “big deal” out of it, they were just going to make the manipulaters broke.
I think, they are doing just that buy scooping PMs at undervalued prices, in time,it will get revalued one way or another. How much time? no idea.
As long as it takes I guess to “bust em” I guess.
I really do like Jay Taylors views.
Out of interest, the next Indian election may change their government from a supressive to gold government to one that allows it to move more freely.
Indians like gold, makes sense they dont like what their present government is doing.
I think that will have an effect on the price.
I agree with Jay, the american people will probly wnot wake up.
I have been waiting for the banks to attempt to collateralize some of that massive hoard of private gold holdings held outside the financial system in India and by doing so use them to extend credit to the millions of Indians who currently do not use even the most basic of bank services. It is what I would do. An obvious choice that would take gold off the market on the one hand while integrating more people into more conventional banking in the process. The only kink is that the idea would confirm the principle of gold as money in the minds of most holders if too high a percentage of lending against value was undertaken. How else do you get millions of people into traditional banks though when they have not until recently even embraced the idea of savings accounts?
Interesting comment, Bird!
Oh they will, but again the question is one of time frame!
Just got off the phone with the best performing manager in Canada for 10yrs.
He went bearish on gold 2.5 yrs ago. He’s Still not buying..
Everyone has an opinion, Billy.
Certainly recently that person has been correct.
Well, that’s for sure Al. The first thing he said everyone makes mistakes. BUT his insight to buy commodities 2000 and sell out in 2008 was perfect. His % returns speak for them selves. We discussed the Gold equities that have cash no debt and cash flow may hang in there. The rest are cash burners going down…Only if Europe erupts again will gold look attractive. Safety first!
Thanks Billy.
I would take issue with absolutely having to have cash flow.
There are some juniors out there that have plenty of cash and no debt, great management and proven properties. I think that they too will do well.
I absolutely agree, Al.
Agree fully Al about not giving up on folks. They deserve so much better.
Interesting piece on KWN about China’s preparedness to mine gold for all in costs of between $2000 and $2500.
Thanks Reverend. More fuel for the fire of positive things for gold coming out of China.
KWN is nothing more than a gold propaganda machine, what evidence can you produce?
That’s funny, I never see anyone demanding evidence for Reuters or Bloomberg coverage.
Wall Street reacts to Reuters or Bloomberg’s coverage, can you say the same thing for kwn?
Nope.
Funny logic. And when did Reuters or Bloomberg ever properly cover the bull market in gold? The answer is… they didn’t. They never acknowledged its existence, let alone mention that gold had become very cheap at $250. Then, after ignoring the huge gains being made, they came in at every intermediate term peak to call it a bubble —a bubble that has now popped, of course.
The financial MSM takes the other side of everything they tell their dupe followers to do. Yet those dupes are skeptical of everyone BUT those ministers of propaganda. It’s a funny, twisted world.
As for KWN’s influence, your “nope” is just your guess.
Of course not.
Your last two comments were great as you didn’t call anyone stupid for having an opinion. Thank you!
I can’t really comment on KWN, but remember I have said that I really don’t care about the price of precious metals because we plan to give them to our kids as my parents gave theirs to me. Presumably, not to make sandwiches by the way!
Some will and lots won’t. If gold sees $1000 there will be no cash flow unless the management get out the pan to keep cost down. Most of them have buried them self’s in debt and paper dilution. I’ll go with the guy that’s put 20% on a $150mil under management. I went with Bob Ms “I’ll know when to get out watch the site” advice. In May he said Juniors will be up a 100% by Sept and 1000% in a year. He wrote a piece 2.5 years ago “triple digit returns” That hasn’t turned out to well. 7 figure loses….Hold tight!? As my professional said it could be years for a turn. He’s actually interested in making money in the current environment and is. I was retired before I ran into 321gold.com. Bob was right in the early days…. its the wrong once in a while that’s expensive…
As I have said forever Billy, diversification is the key.
Trust me, Bob is a great friend but that certainly does not mean that I buy everything that he suggests!
So when is this supposed phsical gold market going to be set up in China? Also, when people argue that “Gold doesn’t pay a dividend or earn interest”, why doesn’t anyone respond with the obvious point that over 70% of stocks don’t pay a dividend either!!
Net of the true inflation numbers, most dividend payers don’t pay a dividend either! Gold is up 5 times since the REAL stock market top in 2000. That kind of gain makes up for a lot of dividends.
Great point Mr. Johnny A!
Yes it certainly does, Matthew
AL, you are tops there’s no worries there. Bob’s just extreme. A lot of fear pumping there.
i agree only 1 ting china and USA and euro have the same controller !!!!!!!!