Gold

[drillfix]

Hi folks,

As posted on the silver thread, I feel some p metals are in for an up move..

I feel gold will be priming up for test of the middle bollinger bands which is approx at $1,709 there about.

Although at times we cant rely upon indicators to say it will or wont, if we look at global indexes and the Williams%R is showing many index readying up for an eventual another down leg which should give the the MACD and W%R for both gold and silver a thrust upward both on the daily and weekly.

Thats all from the Technical Babble for now.

Cheers~!

[Lego_Man]

Since there's been no major economic meltdown in my lifetime bar a few crashes, I don't expect one in the near future. History's on my side.

Fine logic!

All other stuff aside, your lifetime is hardly a representative sample when it comes to the history of economics.

[Skol]

Fine logic!

All other stuff aside, your lifetime is hardly a representative sample when it comes to the history of economics.

In my lifetime there's been no major depression, however they were a regular feature in recent history.
A few examples:

The panic of 1837,
The Long Depression 1873-1896,
The panic of 1907,
The panic of 1911,
the Depression of 1920-1921,
The Great Depression.

I can see you're one of the goldmugs that believe the ultimate meltdown is on its way, you've been reading too much 'non-mainstream media'. LOL

John Paulsons gold fund is now up .9% in the year, down 16% in September, and these are the 'experts'. Better off with money in the bank at 5%.

[skid]

Something didnt sound right about the gold fund statement so I checked the 1 year gold chart--1 yr ago it was sitting on $1350 oz---Now its $1650---Dont know about J P gold fund,but the price of gold is up a hellava lot more than .6%

[skid]

but what do us goldmugs know

[Pumice]

inflation and FX adjusted?

[Skol]

Something didnt sound right about the gold fund statement so I checked the 1 year gold chart--1 yr ago it was sitting on $1350 oz---Now its $1650---Dont know about J P gold fund,but the price of gold is up a hellava lot more than .6%

It's because Mr. Paulson has been unwise enough to put the punters money into gold mining companies.

[skid]

Gotcha--I thought you were talking about gold itself--Shes a pretty hard market for alot of companies these days

[corran]

In my lifetime there's been no major depression, however they were a regular feature in recent history.
A few examples:

The panic of 1837,
The Long Depression 1873-1896,
The panic of 1907,
The panic of 1911,
the Depression of 1920-1921,
The Great Depression.

I can see you're one of the goldmugs that believe the ultimate meltdown is on its way, you've been reading too much 'non-mainstream media'. LOL

Even the 'main-stream' media over here are talking openly about a global financial meltdown Skol. But of course it's often hard with main stream media to filter out the scare mongering and also the rose-tinted classes pieces. That's why I prefer the non main-stream stuff :-)

There have been depressions and melt-downs before but there's a few things that set this one apart I reckon such as:
- the hundreds of trillions of dollars worth of complex and intertwined derivative products
- the overwhelming debt levels many developed countries have
- the currencies and economies of the most economically powerful countries/regions (e.g., US, UK, Europe, Japan) are all extremely vulnerable (negative growth, high unemployment, huge unfunded liabilities, aging population)
- currencies are backed by nothing

I dinnae see these things getting fixed anytime soon.

Zero percent interest rates and trillions of dollars of bail-out/QE money haven't done much except shift the crisis from a banking crisis to a sovereign crisis.

[Skol]

I think you will find that we haven't had a depression because Bernanke, the Fed and central bankers in general have done a damned fine job so far of stimulating their economies. Bernanke is an expert on the Great Depression and is keen to avoid the mistakes of the '30's. We don't have a gold standard either which contributed to the depression.

Those amateur, unqualified economists, the goldbugs, know far better though and have their own crank theories.

And all of this was caused by greedy people borrowing too much money and stupid bankers lending it to them.

Just goes to show that you should live within your means.