???Gold???
Posted November 19th, 2008 by entropypressStAt
output
the Dow drops like a sack of wet oatmeal and the spot price of gold closes about a dollar under opening price.
This defies everything I've ever been taught about gold... Am I missing something?..or is this just the flat our manipulation that everyone has been squeaking about for the past couple of months?
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Listen to Dr.
Listen to Dr. Paul
http://www.lewrockwell.co...
http://www.1776solution.b...
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
site tracking physical vs. paper metal prices
There is a site, silverbids.com that is tracking the difference between the actual price and the spot price. The actual price is determined by tracking eBay precious metal auctions. The premiums are quite high, click on the graphs to view the data.
During the Depression the price of Gold was Fixed
at $35 an ounce. But SILVER wasn't fixed and it dropped 85%.
Gold mining stocks rose because false high prices.
Deflation means Deflation. Everything Goes Down..
Guess What...The Price of Gold is no longer fixed...
End of Story...
Well, back then dollars were
Well, back then dollars were backed by gold. So how could it drop in price when it was priced in dollars that are backed by it? Also, gold was $20 per ounce prior to the confiscation and then reset to be $35 per ounce after the gov got all the gold it wanted or was able to get. Effectively what happened was that the dollar was devalued.
By what mechanism is
By what mechanism is movement in the DJIA supposed to affect the gold price? Other than both rising over time as fiat currencies are debased; and a higher DJIA possibly implying more overall wealth, leading to increased gold demand; I just don't see the linkage.
I recently noticed that a
I recently noticed that a bottle of coke in an vending machine, went from $1.00 to $1.50. I am dropping my paper money like a bad habit.
There was a point in time
There was a point in time when the dollar was strong enough to buy the same thing for a nickel.
Very easy to understand explanation of who is controlling the...
gold.
The City of London Corporation and Vatican City are the two most wealthy private corporations in the world. They own along with the Rothschild’s well over 3/4 of the worlds gold. The Rothschilds are the managers of the wealth of the Vatican and the Crown. They also control our Federal Reserve indirectly. At this point they need to keep the world believing in the US dollar until they can get the worlds bankers together and agree on a one world currency. I believe this is under way now and will transpire with in the first 3 months of Obama's administration.
With this much gold at your finger tips it is no problem keep the value of gold low while propping up the US dollar, at least for now.
Proof the Vatican is an independent nation
http://en.wikipedia.org/w...
Proof that “the City of London Corporation” is a sovereign state inside the city of London:
http://en.wikipedia.org/w...
This has been happening
This has been happening ROUTINELY for months now. Whenever the DJIA gets crushed so does gold the same day. Don't be deterred. Yes, it's manipulation.
http://www.kitco.com/char...
http://www.kitco.com/char...
this was todays chart ..
look at how gold spiked at noon and got hammered right back down instantly ... even with the 450 point loss in the dow
My own theory
FWIW, the market dropping is a slow bubble burst back to where it should be. It's been overblown for years now, possibly even as far back as 1987. The bad news is that there is a parallel in some real estate doing the same thing. If you're trying to ride it out like I am, the best thing to do is build the equity now. Little stuff like fresh coats of paint, updated landscaping, new light fixtures and switches, ceiling fans, and such are easy to do and go a long way. Other stuff like appliance updates and room remodels are more difficult and expensive, but doable. I have the only wired-in-wall home theater in the neighborhood from that-huge equity boost for $150 in wires and wall plates while I was renovating.
The metals are relatively stable but still overpriced. Five years ago you could get a full ounce BU Double Eagle or St. Gaudens for $400 (which I should have bought then!), now it's double that. Ditto silver (which I did buy then!). I expect them to stay that way because investors do what investors do, which is hide in metals and other commodities when the paper products (stocks) get flushed down the toilet.
As for oil, the bubble has popped. OPEC wants to try to settle the price at around $70-80, and their shills are all over the news claiming that, but I don't see it happenning. More like $40-50, and we're seeing close to that now. If the bottom falls below that, we could go back to the $1/gal days we saw back in the 90s (we can hope!).
hedge funds are liquidating
hedge funds are liquidating because they are forced to.. as they have to have dollars when liquidating, it artificially strengthens the dollar. thus gold goes down in price.. also the funds are selling gold.. NOT physical gold but PAPER gold.. the spot price is down but the physical price of gold is still up! just hold on a little longer that will change!
"When governments fear the people there is liberty. When the people fear the government there is tyranny."
-Thomas Jefferson
I am more concerned about the return of my money than the return on my money. --Mark Twain
What's happening
Goyen (Yiddish): Human cattle to be milked.
Buy low, sell high ;)
Nothing you've ever learned starts with;
"Every single day. . ."
The
Plunge Protection Team has arrived
Let's see... The U.S. Mint
Let's see...
The U.S. Mint doesn't sell Gold Eagles anywhere near the spot price: http://catalog.usmint.gov...
The people at ebay don't sell Gold Eagles anywhere near the spot price: http://shop.ebay.com/?_fr...
Seems to me the spot price is missing something...
missing something
You're missing something.
Right now, everything is about de-leveraging. Until it's over, there are essentially only three kinds of assets: 1) the dollar 2) the yen 3) everything else. Actually, gold and silver are holding up very well, considering. I would not be surprised to see significantly lower prices. On the other hand, a short squeeze in gold or silver or both is possible too. The prices of gold and silver could sky rocket. China might kick it off. Everything is volatile, and the variables are hidden. I am not selling my physical metals.
I did just read that China
is mulling raising it's gold reserve. Article found on www.fourwinds10.com says "China's central bank is considering raising it's gold reserves by 4,000 metic tons from 600 tons to diversify risks brought by the countries huge foreign exchange reserves, the Guanzghow Daily reported". Article is call "China is Moving to be #2 Holder of Gold Bullion".
You may be interested in
this:
http://news.silverseek.co...
“The ultimate result of shielding men from the effects of folly is to fill the world with fools.”
-- Herbert Spencer
Interesting
Thanks.
all it takes is 1
all it takes is 1 billionaire like Jim Rodgers to buy silver and that will bust the whole thing wide open! after Silver goes then Gold goes! its coming.. only this time the US federal government cannot bankrupt the silver market guy who buys mass silver on the futures market because the Federal government does not have a 3 billion ounce stockpile like they had in 1980 when the screwed the hunts!
"When governments fear the people there is liberty. When the people fear the government there is tyranny."
-Thomas Jefferson
I am more concerned about the return of my money than the return on my money. --Mark Twain
Didn't Buffet try that once in the 90s?
I seem to recall that happening and the silver price spiking to $13/oz...
no he bought at about 4.00
no he bought at about 4.00 .. the price went to about 6.25 or 7.25 i can't remember which.. then settled back down to about 5.00 .. when the silver etf was started (I think ) thats when buffett sold out.. at about 8ish.. millions of ounces he had was used to fund the etf because there was not enough to come from the comex.
"When governments fear the people there is liberty. When the people fear the government there is tyranny."
-Thomas Jefferson
I am more concerned about the return of my money than the return on my money. --Mark Twain
Forget about any market common sense and expectations...
when it comes to precious metals. That's what I've learned from watching it. It is totally and completely manipulated, and there is nothing to keep it from continuing to be.
nice rally spike...
right down after a good open. I'm not even looking at the spot price anymore.
Well, check out the price action on the
3 following charts, and then tell me what you think.
http://www.goldseek.com/q...
http://www.silverseek.com...
http://www.goldseek.com/q...
notice the time frame starting at 10 am.
“The ultimate result of shielding men from the effects of folly is to fill the world with fools.”
-- Herbert Spencer
this has been going on now
this has been going on now for months! lol
"When governments fear the people there is liberty. When the people fear the government there is tyranny."
-Thomas Jefferson
I am more concerned about the return of my money than the return on my money. --Mark Twain
I know, at the same time,
each day. It's like the guy hits the button before he goes out for lunch.