Gold

[JBmurc]

Gold 1302 ....yeah it's crashing all right

[Skol]

Gold 1302 ....yeah it's crashing all right

You need to be more patient, gold took 5 years to bottom out after 1980, it's only 2.5 years since the top.

Lower highs and lower lows.

[skid]

Someone said the Rouble was going to be the new world currency??
I think the concept of single international currency will slowly go out the window.(but not till my $US go up enough to sell please)

With that further tightening by the Fed-you can watch Gold--but dont forget to keep a keen eye on the share market.

Who will lead the spiral down?--my guess-- Europe

[JBmurc]

Someone said the Rouble was going to be the new world currency??
I think the concept of single international currency will slowly go out the window.(but not till my $US go up enough to sell please)

With that further tightening by the Fed-you can watch Gold--but dont forget to keep a keen eye on the share market.

Who will lead the spiral down?--my guess-- Europe

I've heard about new payment system / dollar reserve - Eurasian axis: China - Russia - India.... the big three with another doz so nations
meant to be keen on the idea(so round half of the worlds population) ...also the fact Germany depends on the likes of Russia far more than the Yanks ....years ago the World bank stated the USD days of holding the world reserve currency were numbered....yet listening to few round here and your'd think it's the 1950's all over again ....too many hollywood movies my guess (bad guys aways russian right)

[Daytr]

The US appears to be fighting a financial war of attrition on many fronts be it combatting the rise of China's global financial influence with a constant barrage of threats in regards currency manipulation, or imposing sanctions against Russia sparking a capital flight that could see Putin's plans unravel. Whilst Putin could be seen to be winning the war on the ground, the US financial weapons of mass destruction are certainly taking its toll on the Russian economy. Its not necessarily in Europe's best interests to see Russia in a state of financial desperation, with Russia being a large energy supplier to Europe, higher energy prices is the last thing a fragile European economy needs. Last week I wrote about gold having a shot at the downside that should actually be a catalyst for a bounce. Although we didn't see the size of the moves I forecast, its exactly that sort of move we saw late in the week, with gold trading below $1270 only to bounce back through $1300. The question for mine is this; is the big seller still in play or have they covered? I suspect they may have covered, however that is only conjecture on my part. Its a pretty positive move by gold to reject the 100 DMA on the downside & recapture the 200 DMA. With the Ukraine tensions continuing, equity markets still not seemingly knowing what direction to take gold should remain well supported this week & I suspect we will again be looking at $1320 sooner rather than later. Have a good trading week. Cheers Daytr

[JBmurc]

You did read what I wrote about Russia right JB? And you're still not excluding Russia from that list?

Yes that Moodys have downgraded the Russians fiat currency .....the same Moody's that gave Fanny&freddie AAA rating just before they crashed ?
End of the day Russia is the Worlds biggest Energy provider,,, right next door to doz's of Energy dependent Nations (least half of the world's population) and people really believe Russia is going to go bankrupt ....if Obama puts his foot down?
The western nations are pulling out of their failed WARS in the middle east already many nations are closing ties ...Iran-India.China Russia..Central Asian.. Even Germany has far more economic ties with Russia and more to lose if sanctions are In-forced (led by USA/Nato) ....
Cheap Energy is the backbone of any great economy ,,the USA great 50's rise came about from their own Cheap Energy abundance .....

[JBmurc]

So you think that foreign inflows of capital do not matter anymore? Tell that to North Korea; resource rich, abysmally poor.

The MSCI is also very well renowned for manipulation and insider trading, so much so it's not even illegal! How can a nation become rich when corruption is so rife (and don't even think about comparing them with the USA; do you see Obama living in the kind of extreme oppulence Yanukovich was?).

In case you haven't checked oil prices lately, they sure ain't cheap, and nowhere near thr price of the 50s! Russia may produce a ton of energy, but that high price is very tempting to off sell and not pass on to the consumer. Seen how much some projects in Russias Far East are costing these days as well? BILLIONS (that ain't cheap!).

And Fraccing Tight oil shales IS ?? ...If Oil prices were low most of your NEW North American OIL supply wouldn't exist even with the massive TAX breaks ...And yes your right the Russian energy producers will be make a mint which is likely being re-invested in major
conventional Oil projects/discoveries "Not bottom of the barrel Shale oils BS" BIG Fn difference ...one like a pond the other like throwing
a towel into a pond then squeezing the water from the towel ....

http://www.examiner.com/article/oil-...ale-gas-fields
Yesterday Chesapeake Energy, the second largest U.S. based oil and gas company, filed with the Securities and Exchange Commission to sell off its oilfield services unit which does the majority of the company’s oil and gas exploration, hydraulic fracking and drilling. Stung with high costs and mired in more than $20 billion in debt on its U.S. shale operations, the company continues to sell off billions in its assets base as it struggles to right itself. Its actions follow a developing trend of cutbacks, spin- offs, divestures and write downs for oil and gas majors operating in U.S. shale formations.

But don't tell me the big boys won't invest in the Energy Giants anymore "that'll hurt them LOL ...

[JBmurc]

Not going to rebutt my comments at all?

Well I did on your view point Russian Energy exploration as Expensive...(when they have to frac shales to produce Energy I'll agree with you)

ON corruption you know how much money it takes to get in office in the land of the free??? you think those major interest groups don't motivate the US leaders ...G.W BUSH was backed by many a US Oil major ...next minute the bulk of IRAQ oil flows through the same hands while most of the free Iraq nations didn't even have clean water.....

Gezz even locally here has some corruption (nothing like much of the world of course) I remember mid 2000's a local council supporting group inspector had to inspect and pass work on the muti unit development I was in control of ...he stated to me one on one that if I cut him a good deal on one of the units he would make sure the owner of the land down the front would be forced to cut down all of his trees...and in turn open up more of my view on the lower unit >>>told him not how I roll>>>>

[Skol]

JB,

You're a bit off the beam there, Russia's VERY corrupt, it rates #127 out of 177 countries, the 177th being the most corrupt.

The USA is #19.

http://blogs.reuters.com/john-lloyd/...nly-get-worse/

[Daytr]

I think if you included 'lobbying' in the corruption stakes the US would probably rank as the most corrupt. Yes its everywhere & its very bad in Russia. I think it will be interesting to see how Obama's financial squeeze on Putin's wealthy 'mates' plays out. I'm not sure how legal it is to seize assets like the US has, but what is legal in war? Although no war has been declared, so again back to legalities...
If this was some South American state freezing assets & potentially confiscating them the US would be the first to cry foul in regards free markets etc. In saying all that it may work & it may see Putin undermined in Russia. To me its obvious that the US want Russia to back down or they will try & force regime change i.e. put the financial squeeze on to get Putin overthrown. Its a dangerous game as Putin believe it or not is reasonably popular in Russia as he is seen as standing up to the West & also who knows if he was overthrown who would replace him. Either way those who thought this Ukraine thing was a blip are wrong, dead wrong imo.