Gold

[JBmurc]

I would like to confess that after spending a life time earning money and after starting with just 3 dollars in1962 I am today well off but my confession is that I do not know hardly anything about money. My suspicion however is that I know just enough to know I know f---all.. For most of my fellow humans I do wish that they knew just a wee bit more so they could evolve to my state of knowing f---all.
All my life I have heard 1000's of times that we can not just go on getting deeper in debt, but we do and the solution if it can be called that is to go into debt a bit more.
So why can we not just raise the debt limit not only in the next few months but forever and ever as we have in the past. No one has ever reached infinity yet so why can this quantify easing not just carry on?
I fully suspect it will. Thoughts as I do not understand.

Big fan of CNBC --Rick Santelli well worth watching some of his clips here is a recent one

http://www.youtube.com/watch?v=N-riVt9O3Kc

http://www.youtube.com/watch?v=8ROwgXVERq4

http://www.youtube.com/watch?v=ZEJ4jSXF2d4

Gold market is not longer real it's just paper "gold bugs" will just end up with paper gold contracts
http://www.youtube.com/watch?v=tAbYlelZx_w

[Skol]

This is from the FT, $1,000 here we come.

------------------------------------

“Gold’s a worthwhile hold when the global economy is in turmoil and you’re worried about where your assets are protected best,” says Mr Rundle. “But with the US economy resurging, the eurozone back in growth mode and the UK economy showing encouraging signs of growth, the global economy is in a much better place than, say, two years ago when uncertainty drove the market and pushed investors running to the safe arms of gold, core government bonds and the US dollar, Japanese yen.”

However, he thinks gold could fall below $1000/oz after the start of tapering and adds that the investment case for the precious metal has been tarnished by the prospects of Fed tapering and the impact it has on financial markets during the process of tapering. He says clients at ETX Capital have closed positions in gold ETFs so the expectation is that there is only one way gold will go during the QE unwind process – down.

and:


Alfonso Esparza, senior currency analyst at OANDA, agrees, saying a strong non-farm payroll number and a quick resolution to potential American involvement in Syria would boost the dollar and “in turn set the stage for the Fed to begin tapering this month, negatively impacting gold prices”.

This widespread negative sentiment is summed up nicely by Steve Ruffley, chief market strategist at CFD provider InterTrader, who says: “The speculators have already made their money from gold. There is just simply not enough fear or greed in the markets for gold to head back to $1900/oz.”

[Skol]

[QUOTE=JBmurc;428846]

JB,

6 month gold? You may as well front up with a chart for 6 week gold, how about 1 year?

There's no breakout here, it's all downhill, poverty approaches for overexposed goldbugs.


Geez your a knob >>> ^1yr , 6month , 6 week who cares simple T/A the down trend was stopped,,,, broken,,, finished ON THE DOUBLE BOTTOM !! july 1200 !! now this doesn't mean Gold is going to 2000 next week or GOLD couldn't fall further.... just the year long DOWNTREND WAS BROKEN ....where we go is anyone's guess it could well trade sideways without strong direction trading 1300-1400 etc
Or make a new break one direction for Gold HATERS like yourself your be cheerleading a strong move south past the recent double 1200 bottom which would put the long term bear trend back on track ....or for the believers in sanity in this mass money creating madness that GOLD will put check on the Trillions of new freely created $$$$$$ like it has done all through history time n time again...and break the 1420's towards 1500-1600+

I'll send a message to Bernanke to consult a country bumpkin from Queenstown called JB Murc before he makes any decisions on the US economy.
---------------

Definition of 'bumpkin':

An unsophisticated person. Not very intellegent or interested in culture.

Generally refers to someone living in a rural area.


Bumpkin is a derivative of bum, “the rear end. It may come from either the Middle Dutch word bommekijn, “ a little barrel,” or the Flemish word boomken, “shrub" Such a person may easily have been compared to a block of wood;

------------------------

When silver gets to $5 I'll be in touch, I'd like to purchase a 1kg souvenir, preferably one with lots of 8's in the serial number.
Thanks, I know you'll put one aside for me.

It'll be a piece of memorabilia of the great 21st century gold and silver crash.

How's gold and silver going compared with this?

http://www.stuff.co.nz/business/9191...on-dollar-home

[JBmurc]

can't wait until those mortgagee sales start in Auckland, will be buying at the very bottom there as a stupid money chases even stupider money.

just shows in Friday how much fear is still left in the gold market. one unknown Fed board member mentions POSSIBLE tapering in October and the market blows up. glad I didn't buy in on Thursday; knew it was too good to be true.

wilk be watching in earnest for another bottom in a few weeks. $1050 from goldmans is still on the table...

Yeah I didn't bother either really think a move past 1420-30 is needed to show us a true bullish move ....1050 will come into play if 1200 is broken....

[JBmurc]

[QUOTE=Skol;428857]

I'll send a message to Bernanke to consult a country bumpkin from Queenstown called JB Murc before he makes any decisions on the US economy.
---------------

Definition of 'bumpkin':

An unsophisticated person. Not very intellegent or interested in culture.

Generally refers to someone living in a rural area.


Bumpkin is a derivative of bum, “the rear end. It may come from either the Middle Dutch word bommekijn, “ a little barrel,” or the Flemish word boomken, “shrub" Such a person may easily have been compared to a block of wood;

------------------------

When silver gets to $5 I'll be in touch, I'd like to purchase a 1kg souvenir, preferably one with lots of 8's in the serial number.
Thanks, I know you'll put one aside for me.

It'll be a piece of memorabilia of the great 21st century gold and silver crash.

How's gold and silver going compared with this?

http://www.stuff.co.nz/business/9191...on-dollar-home

You Idol Bernanke's Getting out ...didn't you here

In his semi-annual testimony before the House Committee on Financial Services, Fed Chairman Ben Bernanke was very clear about how the central bank engages in quantitative easing. We are printing money, just not literally, the Chairman told policymakers, while contradicting himself regarding recent record highs in stock markets
http://www.forbes.com/sites/afonteve...not-literally/


Bernanke flunked it – and we will all suffer
"As a practitioner of markets, I love this stuff,” said Stanley Druckenmiller. “This stuff is fantastic for every rich person. It’s the biggest distribution of wealth from the poor and the middle classes to the rich ever.”--Stanley Druckenmiller

http://www.telegraph.co.uk/finance/c...ll-suffer.html

I watched the interview on CNBC with Stanley Druckenmiller---among Wall Street’s most fabled investors. He started Duquesne Capital in the early 1980s and then teamed up with George Soros, running the legendary Quantum Fund. Together they made billions of dollars by “breaking the Bank of England”, shorting the pound in massive volumes and forcing sterling out of the Exchange Rate Mechanism. That was in 1992.

[elZorro]

Some interesting charts from Equedia showing that QE4 couldn't reach any of the targets for tapering, and that these targets are still safe.

http://campaign.r20.constantcontact....finPoExDJ9o%3D

[JBmurc]

Some interesting charts from Equedia showing that QE4 couldn't reach any of the targets for tapering, and that these targets are still safe.

http://campaign.r20.constantcontact....finPoExDJ9o%3D

----Gold getting smashed will 1300 hold ??? ----Crazy when you look at what happen in the Gold market during Q.E 1 , 2 .....

The Fed’s balance sheet has grown massively in the QE3 era, up a whopping 29.2% in the year since QE3 was born! That is $818b worth of bonds purchased, a staggering amount of new money created out of thin air in a single year. Indeed as of the end of August, QE3’s $40b per month of mortgage-backed-bond buying and $45b per month of Treasury buying added up to $800b. September is adding another $85b.

QE2 only had $600b of new buying, and that was so inflationary that the gold price surged 24.7% higher over its span. Bernanke laid out his best-case (fastest) scenario for QE3 tapering in mid-June. It proposed starting the taper later this year and ending QE3 entirely by mid-2014. If you run the math on this, it would have grown QE3 by another $383b or so, taking its total over a whopping $1250b.
-doc

So Gold market has now been disconnected from the Money printing???>>>just another play thing for the major funds/Banks/traders esp with the rise of the ETF's how many Billions pulled away from phyz /PM shares etc (au/ag ETF's like the dot.com no real backing)....can't last for ever ....like I stated in the past BRING on $600 gold stop the Q.E completely IMHO these will bring the true value of Gold Silver much faster than this ongoing round
about of B.S
Might well need the Q.E to finish to help

[Skol]

Always amazes the number of goldbugs that criticize Bernanke, an educated and experienced economist who studied the great depression, yet these very same goldbugs are unable to spell or punctuate a sentence.

They probably got their economic education at the Peter Schiff school of economics.

[Daytr]

Skol, actually didn't get hit on my bid on Friday so am 2/3rds invested. So please Skol, leave it to me state my position not your supposition. I said I was going to be patient on the last 3rd. So today have lowered my bid slightly. Suspect we will see correction today & that Friday was over zealous longs squaring up before the weekend. But gold does need to trade back above $1350 quickly to maintain a track higher, so will see.

In regards the returns on my portfolio Skol. I really don't care if you believe me or not & I'm certainly not publishing what I do to all & sundry. That's why I get paid to do what I do. I will say, I do trade in juniors so there is high risk/reward & I do trade in & out, but that's as far as I'm willing to say. My background was financing junior gold mines so what I offer my clients is that knowledge & experience which helps offset some of that risk.

Seeing you have know idea really what I do, its interesting you make comments like a 'massacre on Monday' Perhaps I'll be taking a hit, will wait & see, but again leave it to me to say what my portfolio is doing rather than pulling things out of thin air.

Yep, Daytr's loaded up, won't be 100% return this 3 months, a massacre come Monday.

Down $50 in the last 24hrs.

[Skol]

You're the one that gloats about returns that I would classify as something even more outrageous than Charles Ponzi, probably to drum up a little business, right?

Why would you even post it here if you're offended when someone queries returns that would rate a mention in the Wall Street Journal?

The XGD is down over 5%