OK, Gold Bugs
The opinions are all over the map right now whether or not gold will rise or fall, but:
"Paul van Eeden, president of Cranberry Capital, a private holding company in Toronto, maintains that gold is "already slightly overvalued."
"Though the Federal Reserve has flooded the economic system with dollars, which normally would stoke inflation, van Eeden believes that the central bank "has mitigated a lot of the intervention by withdrawing funds out of the market." Based on a benchmark he has devised, "the actual money supply," gold should be trading at about $750 an ounce."
http://online.barrons.com/article/SB122369643017225623.html?...
IMO, don't get too heavily leveraged in gold, or stocks for that matter. Cash is still your safest mid-term bet (I'd even say certificates of deposit may not be a bad bet, unless we experience hyper-inflation).
Here is a counter argument to Mr. Van Eeden's words.
*
By James Turk:
http://www.thestreet.com/_yahoo/video/10631349/fear-5000-gol...
Mr. Turk's company Goldmoney, now claims over 803 million in assets:
http://goldmoney.com/report-monthly.html
The company began business Feb. 2001.
beesting
The reason Gold is moving up.....
Russia, China, india, and Japan are buying in mass droves....why you may ask? Because they are the largest holder of US debt, and when our dollar crumbles they don't want to be left only holding our worthless junk.
Don't let the stock market fool you......everything is not OK.....gold is telling the real story. Those countries know you cannot keep printing money and borrowing.
Right now the FED is the largest buyer of US treasuries...if they didn't by them, the auctions would fail miserably. when the auctions start failing then the dollar will fall even faster.
Great article on this very topic
http://www.321gold.com/editorials/roy_byrne/roy_byrne112309....
Global Supply is down almost 10% year over year
Government is trying to pass a 1 trillion healthcare bill
National debt is skyrocketing and will double in less than 7 years
0% interest rates have made the US dollar the new carry trade, replacing the yen
Bubbles happen when EVERYONE owns gold, remember in 1999 when 90 year old women knew what Cisco was? Still less than 1 in 10 people own gold and if they do they probably own less than 1% of their portfolio (see chart in link provided)
Buy physical gold for a worst case scenario, buy mining stocks for appreciation. Physical gold is not for a rate of return it is to maintain purchasing power through time.
People-you are uninformed
EVERYONE cannot own gold unless it's the size of a sand grain.
AND there is even LESS silver. Silver is LOST in the manufacture
and ingestion of items.
Mining stocks? Ask the holders of Barrick's about that. They
are for speculators who KNOW what they are doing and have
a good grasp of the industry.
this is an old thread from 2008
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"The essence of freedom is the proper limitation of government". ~ Founding Fathers
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"The essence of freedom is the proper limitation of government". ~ Founding Fathers
Yes,Rhonda
That is what I said! I wanted to know WHY it was here.
HUH ?
I just realized I commented on a posting over a year old. Why is that here?
I wondered that myself...
But lately I've noticed a lot of old posts on here about gold.
I think it is to show the ridiculousness of the opinions on gold at that point in time.
And it really drives home how wrong the disbelievers in precious metal usually are.
"We have allowed our nation to be over-taxed, over-regulated, and overrun by bureaucrats. The founders would be ashamed of us for what we are putting up with."
-Ron Paul
thats why I bumped it..
thats why I bumped it.. when someone calls you a cut and paste idiot,
it is fun to comeback and show when the guy is wrong..
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.
$750 GOLD !!?? HAHAHA
Man,that will not be seen again!! SOME cash on hand is a good
idea. CD's -- why would one want to risk those for a pittance of
interest? Having any money in a financial institution is simply
moronic,save for some in checking to pay imminent bills.
I truly hope that advice isn't followed. Maybe van Eeden made
a typo--meant to say $7500
Paul van Eeden does not what
Paul van Eeden does not what he is talking about. The price of gold is going up (In US Dollars) becuase the Dollar is crashing.
Experience hath shewn, that even under the best forms of government those entrusted with power have, in time, and by slow operations, perverted it into tyranny."- Thomas Jefferson
There is no Left or Right -- there is only freedom or tyranny. Everything else is an illusion, an obfuscation to keep you confused and silent as the world burns around you." - Philip Brennan
"Invest only in things that you can stand in front of and pr
gold isn't doing anything
the dollar is dying a not-so-slow death.
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"the only thing that keeps the banking system from failing is general ignorance about how the banking system works."
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I disagree to a point...
I disagree to a point... look at all the gold being purchased in large blocks by countries.. there is also a supply/ demand part to this.
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.
sure, Sierra
but as of this moment, I think the price action that we are witnessing is more indicative of a "flight to quality" by primarily state actors (China, India, Russia, etc.) and their central banks. You are right that there is a supply/demand issue, but I don't think that will weigh heavily into the price structure for another couple of months or so; although Barrick dropping their hedge and the dismal production news out of the South African mines are probably a precursor event to the third leg of the precious metals bull market.
In other words, we just began phase 2 of the bull market; we will see phase 3 begin when it becomes apparent to all that there isn't enough gold (and silver) above or underground to keep up with demand.
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"the only thing that keeps the banking system from failing is general ignorance about how the banking system works."
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dead banksters
http://www.dailypaul.com/node/107337#comment-1170881
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"the only thing that keeps the banking system from failing is general ignorance about how the banking system works."
----------------------------
I agree.. A prudent man
I agree..
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.
I agree. Gold is extremely
I agree. Gold is extremely stable long-term. The fluctuations come from changes in the value of the USD. Check out this chart: http://www.kitco.com/ind/Turk/images/feb252008_1.gif
...
Wow, that one chart
shows what an absolute failure the Federal Reserve System was, is, and always will be.
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"the only thing that keeps the banking system from failing is general ignorance about how the banking system works."
----------------------------
dead banksters
http://www.dailypaul.com/node/107337#comment-1170881
--------------------------------
"the only thing that keeps the banking system from failing is general ignorance about how the banking system works."
----------------------------
No.
Adjusted for inflation, gold is still below its previous bull market peak. And this time around things are worse...
I went to a lecture by the former fed head of the St. Louis branch a few weeks ago at my university. The topic of the lecture was "The Fed's exit strategy". In a nutshell, he admitted that the fed had printed enough money in the last year to "cause a 100% rise in prices". This is no joke people, I'm not making this up... straight from the horse's mouth. 100% price inflation. Of course he talked about how most of this money is locked away in big accounts or has been pumped into Wall st, which is why we have yet to see any dramatic rise in price levels. Until this changes we likely won't see much inflation, but my guess is the money won't sit on the sidelines forever...
Oh and if anyone is curious, the feds "exit strategy" basically consists of using some hastily developed "tools" to remove excess liquidity from the markets once the economy stabilizes. It is becoming clear that the fed is losing control of the economy. Unemployment continues to rise in spite of Helicopter Ben's 0% interest rate. Like Peter Schiff says, 'liquidity is a lot like liquid- it's harder unspill than spill". I'm no expert, but other than a short term (few months at most) correction I don't see any fundamental reason for the dollar to gain value or for gold to sell off.
"The sinews of war are infinite money" ~ Marcus Tullius Cicero
"The sinews of war are infinite money" ~ Marcus Tullius Cicero
there is no way for those
there is no way for those idiots to remove liquidity.. that is a bold faced lie.. even if they could then the economy tanks again!
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.
From Steve Quayle's Website
Renaissance Precious Metals will not post the Official MANIPULATED Spot Prices of Precious Metals as they DO NOT RELATE to the physical cost of obtaining Gold or Silver at this point in history. As of 10/09/08 Silver is averaging around $20.00/oz. and Gold $1,000.00/oz. Prices and availability change hourly. The majority of primary metal suppliers are out of most inventory and immediate availability is from the secondary market almost exclusively. Renaissance will only sell Silver, Gold, Platinum and Palladium that it can deliver to you in 7-10 days. We ship immediately on receipt of cleared funds and receipt of product that we buy from our sources and clients. We currently have Gold and Silver available, so call us daily to see what is in stock. Given the perilous times we live in you NEED YOUR METALS AS QUICKLY AS POSSIBLE. Call 406-586-4840. Thank You —Steve
PS I have purchased from Steve personally and am very happy with his company.
What is the price at
"Only a virtuous people are capable of freedom. As nations become corrupt and vicious, they have more need of masters." Benjamin Franklin
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which they are willing to buy back silver rounds? Sure, they want to SELL at high prices, doesn't anybody? But, how much are they willing to pay to buy?
I don't know about this place, but personally, I found that "the Official MANIPULTATED Spot Prices" and the prices that dealers are willing to pay to buy silver rounds and bars and gold bars are reasonably close.
government of the people, by the people, for the people
---
Well, yeah, but the other
Well, yeah, but the other dealers don't get their gold from UFO's.
People aren't selling.
___________
Lisa C.
Boston Tea Party
"Time to Party Like It's 1773!"
Charles Jay 2008.
Ron Paul "Sign Wave Across the USA" -- November 5th!
Leverage?
I wouldn't get leveraged into ANYTHING in a highly volatile market like this. That is gambling with odds that I can't stomach.
The government's pumping of money has just gotten started. Government revenue at all levels is in steep decline but spending is increasing. The line for bailouts is just forming. And the world hasn't made the inevitable rush to dump dollars. There are only two paths for the US government now - massive inflation or massive default. They will choose massive inflation because it will allow them to keep their friends afloat longer. The idea that the government will somehow inflate just enough to re-inflate the bubbles is a Keynesian pipe dream. Von Mises' crack-up has arrived.
Gold and silver are going to be the world's money when the dollar finally hits the rocks, because the world will not accept anything else, and that collapse will be within the next three years. Dramatic inflation will hit in less than two.
Trade your paper for hard assets. Gold, silver, food, supplies, guns, ammo, equipment and materials to help you make a living in a near-subsistence economy.
Good luck.
I loved Bill Buckler's chapter on
The Penultimate Stage of the Credit Collapse
He talked of "fractional reserve" banking, the "lateral" runs on banks into state-owned "savings" banks where there is a huge stampede, then says "In recent days, there have been more and more reports about the withdrawing of actual CASH."
"Should this tendency to withdraw cash intensify in coming days and weeks, we will have reached the "penultimate" stage of this deflationary credit crash. At that point, there is a stampede into real goods and real MONEY - GOLD. And once that stage is reached, the jig is up. Every bailout, every coordinated rate cut, every deposit guarantee, and every other desperate action is bringing that day closer."
The Privateer #614 - by Bill Buckler
They are trying desperately to hang on until the election, but apparently Bernanke made "a dramatic error" (a quote from the French Finance Minister) when he let Lehman go into bankruptcy exposing the CDS's to the world financial markets. It was a desperate action not thought out - oops!
Like I have been saying, DEFLATION.
"Only a virtuous people are capable of freedom. As nations become corrupt and vicious, they have more need of masters." Benjamin Franklin
---
government of the people, by the people, for the people
---
Of debt based assets.
With the printers running 24/7, there will be inflation by definition.
___________
Lisa C.
Boston Tea Party
"Time to Party Like It's 1773!"
Charles Jay 2008.
Ron Paul "Sign Wave Across the USA" -- November 5th!
The Captain is "the man".
All hands on deck.
___________
Lisa C.
Boston Tea Party
"Time to Party Like It's 1773!"
Charles Jay 2008.
Ron Paul "Sign Wave Across the USA" -- November 5th!
-
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Ron Paul "Sign Wave Across the USA" -- November 5th!
Wall Street Monsters & Meat (YOU)
by Dr. Jim Willie. I would recommend you read it tomorrow otherwise you may have a hard time falling asleep.
http://news.goldseek.com/GoldenJackass/1224227280.php