Gold

[yabster]

Hi JB

Gor has been my shining light re goldies been in it from the EKM days -thanks to "Steve Fleming" -wish that guy came back!

Also have TRY -dog
MEI is worth a look- was in it for the cobalt but they may have something large on their hands in Brazil- Andrew Trunks is the MD

[Aaron]

AARON, SURELY CASH WILL BE GREAT TO PICK UP ALL THE DISTRESSED DUMPED EQUITIES AND PROPERTY ETC. Whoops sorry about caps.

Meanwhile Gold powering higher. US$1481.26 oz atpit.

Still have cash but am unsure there will ever be a huge crash in my lifetime. I only want to use up cash so that I don't hold any and not take on any significant debt for now.

With interest rates so low if there is ever a crash I can borrow to buy shares or property and the dividends/rents can take care of the loan repayments.

And now to share a little happiness in these gloomy times as of today my gold producers have gained roughly 20% since the 30 June 2019 and I even topped up some NCM in June (Still not life changing amounts though). I appreciate that my success with gold miners(producers) can change quickly but am happy to let it ride for now. My gold producers are fast becoming a significant portion of my all too small investment portfolio.

Probably be stuck around 5th place in the Aussie competition for a while and will require some big changes to catch Toulouse at number 1 before year end.

OCR cut today in NZ, global QE on its way soon, still all positive for gold especially if anyone else loses faith in the idea of money.
Same old same old from central banks while the global economy slows. No idea what will happen but everyone expects central banks to sort it out and that means more funny money, more debt, low interest rates, asset purchases etc etc and high asset prices.

China and USA might succeed in destroying their currencies with their currency wars as it is now a global race to the bottom and the NZ Central bank ensured the NZ dollar doesn’t strengthen globally with today’s cut.

I will admit it is easier holding cash when the S&P 500 dropped nearly 3% in one day although it has bounced back. This may be a good time to be in cash for all I know but I am pretty certain long term it won’t be good.

[JBmurc]

Hi JB

Gor has been my shining light re goldies been in it from the EKM days -thanks to "Steve Fleming" -wish that guy came back!

Also have TRY -dog
MEI is worth a look- was in it for the cobalt but they may have something large on their hands in Brazil- Andrew Trunks is the MD

Yes GOR done very well if you want a repeat might well have it in HMX as it has the mgmt that managed GOR to the major successive company making Gold deposit --

Yes Tunks was a director at WWI for awhile I have talked with him a few times hopefully he has found a company maker with MEI I see the SP has been doing well up 200%+ recently

[Aaron]

Here is why gold is probably going higher.
https://www.msn.com/en-nz/money/fina...cid=spartandhp

Sounds like Adrian Orr is ready to go full retard

USA's next round of QE not far away.

https://www.zerohedge.com/news/2019-...-be-time-panic

Central banks can only keep digging a hole for themselves(and all the rest of us). I guess they are hoping for inflation to debase the currencies and clear the debts but their policies seem to be putting more and more wealth and income in fewer and fewer hands which I wouldn't think would boost inflation. It is trickle down economics and the evidence since the 1980s seems to be you need an huge torrent of wealth to the top for some to trickle down and it is total bull****.

No one in power is likely to change anything as it is now a fragile system and they aren't doing too badly themselves. Political change and populism will be the next step if history is any indication. Shutting the next generation out of the housing market doesn't sound like the way to prosperity for the nation as a whole but that is what the central bank is partly doing. I do still read a lot of stories about young people buying houses. I guess a generation or so ago it wasn't front page news.
I would be more angry except I assume the rate cut is to help our exporters who actually do provide wealth for society.

If/when it all finally blows up a dollar today will be worth a lot less the only question is whether there will be a crash in asset prices first. I am not ready to take that risk as it appears central banks will go all out before allowing over extended borrowers to default. Gold at $1,500 this morning over 7% rise in the last 30 days. I still have no understanding of the gold market and global production versus global demand etc etc but dumb luck is working well for me at the moment. Just sorry I didn't go full retard and go all in on gold miners and borrow against the house and margin lending to amplify the gains, I would be a lot closer to retirement if I had. Sadly I am a conservative investor.

[JBmurc]

really like Michael Pento view watch from 13min mark ... basically all central banks are hoping to ease GFC2.0

https://www.youtube.com/watch?v=24wsVVo_g-I

[Bjauck]

Here is why gold is probably going higher.
https://www.msn.com/en-nz/money/fina...cid=spartandhp

Sounds like Adrian Orr is ready to go full retard

USA's next round of QE not far away.

https://www.zerohedge.com/news/2019-...-be-time-panic

Central banks can only keep digging a hole for themselves(and all the rest of us). I guess they are hoping for inflation to debase the currencies and clear the debts but their policies seem to be putting more and more wealth and income in fewer and fewer hands which I wouldn't think would boost inflation. It is trickle down economics and the evidence since the 1980s seems to be you need an huge torrent of wealth to the top for some to trickle down and it is total bull****.

No one in power is likely to change anything as it is now a fragile system and they aren't doing too badly themselves. Political change and populism will be the next step if history is any indication. Shutting the next generation out of the housing market doesn't sound like the way to prosperity for the nation as a whole but that is what the central bank is partly doing. I do still read a lot of stories about young people buying houses. I guess a generation or so ago it wasn't front page news.
I would be more angry except I assume the rate cut is to help our exporters who actually do provide wealth for society.

If/when it all finally blows up a dollar today will be worth a lot less the only question is whether there will be a crash in asset prices first. I am not ready to take that risk as it appears central banks will go all out before allowing over extended borrowers to default. Gold at $1,500 this morning over 7% rise in the last 30 days. I still have no understanding of the gold market and global production versus global demand etc etc but dumb luck is working well for me at the moment. Just sorry I didn't go full retard and go all in on gold miners and borrow against the house and margin lending to amplify the gains, I would be a lot closer to retirement if I had. Sadly I am a conservative investor.

It does seem like we have built ourselves an inflated house of cards. None more so than residential housing. Precious metals do seem to be increasingly the safe haven as opposed to holding increasingly precarious inflated assets and fixed interest.

However is even gold an inflated asset?

[Aaron]

really like Michael Pento view watch from 13min mark ... basically all central banks are hoping to ease GFC2.0

https://www.youtube.com/watch?v=24wsVVo_g-I

Stagflation and a return to the 70s?? Not so keen on Max Keiser, a bit over the top for my liking.

[Aaron]

It does seem like we have built ourselves an inflated house of cards. None more so than residential housing. Precious metals do seem to be increasingly the safe haven as opposed to holding increasingly precarious inflated assets and fixed interest.

However is even gold an inflated asset?

Is gold an asset?? It doesn't provide an income stream. Traditionally it has been a store of value but like money if no one believes or has faith in gold it has little value.

I guess if it is accepted as a form of currency, it is not being brought out of the ground at a rate fast enough to keep up with the production of fiat currencies so logically gold gains value compared to the other currencies.

Ideally I will get a chance to invest in land or companies that provide a decent yield, but prices will have to drop first and that means fighting the fed (establishment/the man) so to speak which has been unsuccessful to date. Will keep looking for something to get rid of my cash on but nothing exciting at this stage.

[JBmurc]

Stagflation and a return to the 70s?? Not so keen on Max Keiser, a bit over the top for my liking.

Yes he is way over the top but Vs many so-called experts he's been more right than most of them put together .. wished I listen to his call on BTC @$1 ...

I more so follow M.Pento viewpoint ... lowering rates to 0% is just madness

[JBmurc]

Is gold an asset?? It doesn't provide an income stream. Traditionally it has been a store of value but like money if no one believes or has faith in gold it has little value.

I guess if it is accepted as a form of currency, it is not being brought out of the ground at a rate fast enough to keep up with the production of fiat currencies so logically gold gains value compared to the other currencies.

Ideally I will get a chance to invest in land or companies that provide a decent yield, but prices will have to drop first and that means fighting the fed (establishment/the man) so to speak which has been unsuccessful to date. Will keep looking for something to get rid of my cash on but nothing exciting at this stage.

How long have you been sitting on the sidelines again ??