Gold

[JBmurc]

Merkel minister calls for gold reserves as collateral for bailouts
Berlin, Ramadan 23, 1432, Aug 23, 2011, SPA

A leading member of Chancellor Angela Merkel's
government called Tuesday for cash-strapped eurozone members to use their gold reserves as collateral for any future bailouts, according to dpa.

Labour Minister Ursula von der Leyen said in the future that money
from the European Union-led rescue fund should only be paid out when
the states receiving the assistance provided collateral.

Von der Leyen believes that the gold reserves and industrial
holdings held by many nations could be used as collateral for loans,
according to information from German public television.

The Labour Minister, who is a vice president of Merkel's
conservative Christian Democrats (CDU), is also member of a special
new CDU party commission set up to review the debt crisis gripping
parts of the 17-state eurozone.

The commission was established following conflict within the ranks
of the CDU over how to deal with the financial problems facing
members of the currency bloc.

Von der Leyen's comments also came amid signs of fresh tensions
among eurozone members over the 109-billion-euro second rescue
package for Greece, which is due to be pieced together next month.

About five eurozone states, led by Finland, have been calling for
Greece to provide collateral before agreeing to the second bailout
out.

The price of gold has surged this year amid a flight to safety by
investors unnerved by the turmoil in share markets, which has been at
least in part triggered by the eurozone debt crisis.

Gold climbed to a record high Tuesday, when it breached the key
1,900-dollar an ounce mark.

[Skol]

Here it comes.

[shasta]

Spring?

[Skol]

I bought the WSJ and Barron's yesterday and there was some very bearish comments about gold.

Barron's ran a 1 page article on Ron Paul, who incidentally, doesn't own any gold. He owns some gold shares which have performed in a mediocre fashion and bets agains the S&P 500, which won't be much fun at the moment. Paul has been railing against the Fed and says he will ban it. LOL.

Barron's reports that Paul has been warning of the great inflation since 1971 when Nixon dropped the gold standard. His warnings seem to have fallen on deaf ears and Barron's says gold may fall as born-again goldbugs cash in or bite the dust. Gold mining shares will pull back even more if history is any guide according to them.

Goldline (Glenn Beck's partners in crime) report record sales especially to 'mom and pop' investors, for many experts the 'ultimate contrarian indicator'.

WSJ says "so far this month there has been a 36% increase in assets in inverse gold funds, which essentially bet against the price of gold".

[JBmurc]

The bull market is not over long-term. The market will reveal its intent based upon the closings laid out. We did NOT get through the NORMAL projected resistance at 1910-1960, so that is good news in that we avoided a PHASE TRANSITION up to 2500 that would have warned we are in VERY serious trouble until the ECM turns in 2015.75

http://www.10sigma.com/files/Gold%2008-24-2011.pdf


I see from M.A chart on the gold monthly uptrend channel since $700 which we have broke out of going to 1900 would likely see gold get as low as 1600 end of the year an still be part of the longer term monthly bull trend

[Skol]

Here's a quote from Winston Churchill.

"Now this is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning".

We might see history being made. Your grandchildren might joke about the great 2011 gold crash.

[trackers]

26% gold margin requirements hike, apparently:

http://www.zerohedge.com/news/and-th...-again-time-27

[Skol]

I notice there's already been some comments on the internet from some very, very scared gold 'investors'.

Down $113, one of the biggest falls ever.

[JBmurc]

Here's a quote from Winston Churchill.

"Now this is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning".

We might see history being made. Your grandchildren might joke about the great 2011 gold crash.

Think your find it will be known as the great start to the Fiat credit collapse ...

Gold's not causing the Monterey problems of the world it's the barometer of the safety of wealth since 400BC..

if it does say move into a long bear market that would mean our world fiscal problems have be fixed an FED interest rates would be above inflation not well below so much as to mean you actually lose money if you take out a US bond..

[Skol]

Crashes don't need debt or monetary problems, all they need is a collection of over-enthusiastic 'investors', if I can call them that, and a very steep chart.

Maybe they can put spellcheck on Sharetrader.

Still heading south. Probably all the derivatives, ETF's and very liquid gold assets going to work. Too bad about the dudes that own gold bullion, by the time they get to the gold shop it's gonna be over.

What's gonna happen when the hundreds of millions of Chinese and Indian 'investors' wake up in the next hour or so?

Chinese are very clever people according to Bermuda, they know when to buy oil according to him. At $140, just before the crash.