From your Idol Benny pre-GFC
http://www.youtube.com/watch?v=9QpD64GUoXw
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From your Idol Benny pre-GFC
http://www.youtube.com/watch?v=9QpD64GUoXw
Digger,
That's right, 70 finance companies go into receivership, something JB Murc doesn't really want to talk about because that's 'here', not in the USA. Real bad things have happened here too, finance companies, receiverships, mortgagee sales, gold scams, leaking houses, Blue Chip, David Ross,etc. etc.
I'm more than happy to talk about it ! fact is whats to talk about NZ Finance companies pushes high yield returns via safe mortgage backed investment but the money was going into high risk spec build's that no Bank was keen on lending on ....pretty bloody simple
I myself was doing some spec build's locally glad to have sold the last one for tidy profit ...could see the writing the wall ..but thats
very micro ...I'm talking more so marco.... On why we had the bubble in the housing markets and the fact nothing really changed
SPDR Gold Trust down 42 tons for the month so far.
Yet gold is rising Skol. What's that tell you? Gold was dumped/shorted on a massive scale & that shook out massive liquidation from the ETFS. Gold would need to go back above $1550-1600 area for the same to happen again imo. There is little bang for the hedge fund's buck to short gold here & the risk is that the physical & CB demand at levels lower than the total cost of production prevents gold from going much below circa $1200. Could we see more ETF liquidation? Yes of course, however one would think most of the weak holders are already out. In regards the GFC had to happen as too many were borrowing too much too cheaply. Couldn't agree more & the likes of Goldman's peddling triple AAA rated CDOs that should have been rated at junk was the final straw. So if that was one of the major causes of the GFC, what do you call Governments that are doing the same on a much bigger in fact massive scale & at rates that are almost at zero? What will be the impact of that?
I saw Max Keiser this morning & yes he's a bit off the wall, but also very funny. Talking about the very current issue of banks involvement in physical commodity markets. Having traded the LME market for a number of years & seeing what was going on in the aluminium market for the last 4-5 years, this was always going to come to a head.
http://rt.com/shows/keiser-report/ep...ax-keiser-536/
Keiser and ditzy Stacy Herbert have been predicting financial Armageddon for years, you must be the only one that watches them.
Actually I don't read a lot of articles focussed on micro changes within sectors, unless I am really curious. From my experience, for me, it creates too much noise, that sways your opinion on making good short term trading decisions. Gold and silver have made large negative moves, backed up by speculators moving to their smallest long positions in over 6 years. This means there is little to zero downwards pressure left, best time to go long an asset is when everyone has sold in my experience.
Although I do own rare silver coins passively, I am not a perma bull or bear on gold, you can only trade well on sentiment, everything else is noise.
Quite frankly no I can't see that & just saying it doesn't make it so. Why would there be a slow decline? The only real source of supply has been the ETFs & once that is sold its done. Asia is buying gold like its going out of fashion & the developing countries that are actually solvent are buying gold & by the truck load. To put it in Skol's terms, the CBs of the BRICs have backed the truck up & are coming back for more. What amases me is that people can't see this is the start of the Asian century & it is the Asians who have a love affair with gold.