So much for the COMEX default...
Submitted by Matt Harrington on Tue, 11/18/2008 - 20:26
Looks like they're gonna screw us again. Just days before the Dec. delivery notifications go in, they will stave off any incentive for arbitrage by raising the spot gold/silver prices close to the physical prices...
http://www.commodityonline.com/futures-trading/market/Gold-could-be-$900-next-week-8546.html
Like to hear your thoughts about this..
»
Gold and Silver down big as of this writing
"Only a virtuous people are capable of freedom. As nations become corrupt and vicious, they have more need of masters." Benjamin Franklin
---
around 10:57am EST on Monday Dec. 1.
government of the people, by the people, for the people
---
Let's amend this to "the COMEX bailout"!
many don't believe that COMEX will be allowed to fail... I hesitatingly, kinda agree. That doesn't mean that COMEX is the least stable and won't be falsely propped up by the same guys who've printed all the money to bail everyone else out.
What will a 'Bailout' of the COMEX signify and will it do the same to the gold market as a crash?
I may not know the truth, but I know when I'm being lied to...
I may not know the truth, but I know when I'm being lied to...
It's not a matter of failing, as to becoming irrelevant and
ignored due to lack of confidence.
That can't be propped up.
Ron Paul "Sign Wave Across the USA" -- November 5th!
As we've seen.. anything can be propped up...
It's just a matter of how much money you can throw at it.
How long it will stay propped and whether people will regain confidence in a rickety structure like that is the question.
It can still crash. It will just cost more.
I may not know the truth, but I know when I'm being lied to...
I may not know the truth, but I know when I'm being lied to...
You can't force people to "exchange" on an exchange.
.
Ron Paul "Sign Wave Across the USA" -- November 5th!
No, but if you build it they will come.
You can't force them to put their money in banks either. Yet they do.
I don't see where you're taking me...
I may not know the truth, but I know when I'm being lied to...
I may not know the truth, but I know when I'm being lied to...
A snippet from Richard Russell's Dow Theory Letter
Question: Russell, how would gold fare in an all-out deflation?
Answer: In a major deflation, any item which was backed by debt would head lower. Deflation renders debt increasingly dangerous, since in deflation debt becomes more and more difficult to carry. The only item of intrinsic wealth that IS FREE OF DEBT IS GOLD. Thus, in a time of deflation one might see a panic for the safest item of undisputed wealth - GOLD. Furthermore, if the gov't. wants to inflate in a time of deflation, and the dollar's viability is under attack, the gov't. could back the dollar with gold. The gov't. could unilaterally raise the price of the gold it owns to say $5,000 an ounce. The gov't. could then say, the dollar is partly-backed by gold, every dollar is worth one five thousandth of an ounce of gold. In other words, if the dollar falls under suspicion, the US might find it expedient to return to a version of the gold standard. Richard Russell, November 26, 2008.
I've heard the rumors about the great COMEX default....
I also ask the question... Do you really believe for so much as 1 second that they would allow that to happen? I think it's complete nonsense myself. I heard it too, but I'm not counting on it. I don't even believe it is remotely possible. I think it likely stemmed from some high profile gold analyst's fairy tale fantasy myself.
The FED
The FED is dumping gold to keep prices lower. Bernanke admitted that they sell gold at the last committee hearing.
http://www.youtube.com/watch?v=fO78QxMCxP8
http://www.meetup.com/RP2012GrandJunctionCO
I suspect that they are probably working on the final details of
"Only a virtuous people are capable of freedom. As nations become corrupt and vicious, they have more need of masters." Benjamin Franklin
---
a new gold standard right now and they don't want anyone to rock the boat at this point. Personally, I'm convinced that they are going to install a new gold standard, and average Americans are likely to suffer from it tremendously. Just think how much gold average Americans own and what they would have to do to earn enough gold in the future. In my opinion, gold has never been friendly to average people in history. In my opinion, gold helps only rich people. Just look at those who are supporting gold here at DP.
Just my opinions.
government of the people, by the people, for the people
---
Again, what DO YOU BASE YOUR
Again, what DO YOU BASE YOUR OPINIONS ON?
http://www.1776solution.blogspot.com
I would remind you that extremism in the defense of liberty is no vice! And let me remind you also that moderation in the pursuit of justice is no virtue. Barry Goldwater
http://militantjeffersonian.com
"Men do not willingly read unpalatable truths of themselves. The People like those best who fool them most, by pandering to their vices and flattering their foibles" Raphael Semmes
"In my opinion, gold helps
"In my opinion, gold helps only rich people."
And your opinion is based off what? Also, what's wrong with rich people? Who do you think is creating all the work......
What work?
Like licking their shoes till they shine? The notion that rich people create jobs is nonsense. Rich people collect interest. Poor people trying to better themselves often borrow money from rich people at usury like rates to start small business. I can't remember the last time I saw a wealthy man behind the counter of my new local pizza polar.
And save your lectures on what books I should read.
"The notion that rich people
"The notion that rich people create jobs is nonsense."
Then you turn right around and say this.
"Poor people trying to better themselves often borrow money from rich people at usury like rates to start small business."
Sooooooo without the rich, who are the "poor" going to borrow money from??? Let me guess, the government can just give it to them for *free* eh?
"I can't remember the last time I saw a wealthy man behind the counter of my new local pizza polar." Don't know what a pizza polar is....perhaps you meant parlor.
"And save your lectures on what books I should read." I will. It seems that reading and writing isn't quite your forte.
Now Neoconned
don't make me go back and check your spelling and grammar.
I still can't get a grip on what kind of world you want to live in.
Is it that you want a few very rich people and a nation of grateful people for the crumbs they wish to throw our way?
Is that what you want because it sure sounds like NWO to me?
Would it not be much better to eliminate the advantage to accumulating money and lending it out at high interest rates so that someone purchasing a 200,000 house ends up paying 400,000 dollars for it and placing the incentive on dispersing ones money so all of society can benefit from it?
What's wrong with them?
"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
---
Yes, what's wrong with rich people?
Also, at what point is someone rich?
In your opinion.
Ron Paul "Sign Wave Across the USA" -- November 5th!
What a bunch of dumbasses..
Why don't you calculate what 35 to 800 is today... If you don't know how to do it I'll give you the calculation... 800-35= 765/37= your numbers.... Sprinkle in manipulation of all sorts... Still a pretty good number... Please dispute it so you can show your ignorance. Anybody wanna sell your gold, give me your number, nothing like taking advantage of a willing idiot...
If gold hits $900 - that's my cue to sell!
One thing important to remember is that gold, like all commodities, is a speculative investment. I own allocated gold and pay every month to have it stored and insured - I draw no interest and only gain if I sell higher than my purchase price.
I bought most of my gold at $820 and $845 a few months back - if it goes to $900 to help COMEX futures, that will be my cue to sell. If the price is artificially "bumped" up, rest assured there will be a correction with a week or two - if it goes low enough (around $800 or less) I'll buy again.
END the FED before it ENDS US
Gold is a poor investment
You shouldn't "invest" in commodities. They should be held as a store of value, not a vehicle to grow value. It is not possible for gold to grow in value as it is a stable substance, it doesn't multiply on its own.
You "invest" in things that can grow, multiply, produce, and improve. An ounce of gold is an ounce of gold is an ounce of gold (purity being held constant). Yet a seed can become a tree and produce fruit and more seed. A business can produce useful work saving devices from raw materials which can be used to convert other materials etc. A student can learn and innovate.
Investments should be in people, and in other living things. You can't 'invest' in something that is dead or was never alive. Claiming that somehow the 'value' of an inanimate object changes is a scam. It is what it is, and that does not change. Its utility might, but that is only relative to the ability for people to use it to produce other things, not in its own ability to produce which it cannot do absent people.
Gold and Silver are a STORE OF VALUE, not an investment which can increase or decrease in value.
you can if you want
surely there are people who are good at that.
The crazy thing is that right now gold is a really good investment (because its price is artificially low) as well as an excellent store of value.
Gold is a poor store of value
If I owned 10 oz in 1980 I would have been able to buy a economy car (assuming today's prices).
5 years later in 1985, my 10oz would have purchased (in US$) only half of what they used to.
So, unless I am overlooking something, I really don't see how it's a store of value.
I think that might be another myth to add to the pile, along with other ones like gold having 'intrinsic value.'
You are picking your time points speciously.
If you had sold that gold six months ago, then you would be able to kgpy that economy car, or well, just wait a few months.
During a period of hyperinflation, gold will retain its value.
Hey, I could easily pick others
So, don't give me that;-)
The value of gold in $US has fluctuated continuously. And if the value of something is constantly going up and down, how can it be said to be a store of value?
Not true. It will appreciate in price (ie. in $US dollars). But it is not 'retaining' its value. It's value is actually being increased. Why? More people start to value it.
Five years?
That's your sample???
LOL!
*****
A pre-65 quarter still buys a gallon of gas -- and still did so when gas was around $4.00. I can still buy a nice man's suit with an ounce of gold (face value $20). How much suit can you buy with that $20 FRN?
Ron Paul "Sign Wave Across the USA" -- November 5th!
That is just one sample
There's many more examples like that that can be given. Just look at a historical gold price chart.
It is very volatile. It doesn't store value well.
Re: being able to buy a high-end man's suit, that is true today. But it's not always like that. Looking at just the 21st century, you wouldn't have been able to from 2000 to about 2004.
Decades... Generations...
You are either impatient or confused.
Ron Paul "Sign Wave Across the USA" -- November 5th!
Are you saying that is only a long-term store of value?
1st of all, I haven't heard a gold bug qualify it like that.
2ndly, its value (in $US) still fluctuates long-term.
More fundamental, value is something in people's minds. How do you store that?
The human mind is the
The human mind is the ultimate store house.
http://www.1776solution.blogspot.com
I would remind you that extremism in the defense of liberty is no vice! And let me remind you also that moderation in the pursuit of justice is no virtue. Barry Goldwater
http://militantjeffersonian.com
"Men do not willingly read unpalatable truths of themselves. The People like those best who fool them most, by pandering to their vices and flattering their foibles" Raphael Semmes
Ya, I agree
My above was probably poorly phrased.
Anyhow, I guess to sum up my position on this...
- I don't think there are any absolute stores of value.
- There are only relatives one (ie. some are better than others. But even the best one can't maintain a constant level of value).