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Message
re: I got out of equities on Thursday because of advice from someone I respect
Posted on 6/6/11 at 2:45 pm to LSURussian
Posted on 6/6/11 at 2:45 pm to LSURussian
quote:
Here is an article this morning on Soros selling his gold in the first quarter of this year, fwiw.
Oh I'm still looking for a strong correction in the next two months to the 1375 to 1425 area. I'm using leverage (futures) so I usually have fairly tight stops and will look to re-enter later.
0
Posted on 6/6/11 at 2:52 pm to LSURussian
Interesting question. Quandry when we are the largest debtor nation in history.
In theory, No - the market needs to do it. However, how can you calculate what the US has in gold reserves in relation to the US dollars in circulation? Think it would ever be an accurate figure?
However, a historical gold/silver ratio would make sense. The alleged manipulation by JP, etc appears to be out of control.
Problem: what do we have in gold inventory anyway?
In theory, No - the market needs to do it. However, how can you calculate what the US has in gold reserves in relation to the US dollars in circulation? Think it would ever be an accurate figure?
However, a historical gold/silver ratio would make sense. The alleged manipulation by JP, etc appears to be out of control.
Problem: what do we have in gold inventory anyway?
Posted on 6/6/11 at 2:58 pm to Paulu
quote:I don't know if it would be accurate or not.
However, how can you calculate what the US has in gold reserves in relation to the US dollars in circulation? Think it would ever be an accurate figure?
But I DO know it's a meaningless calculation.
quote:Already been debunked by several reliable sources. That is unless you have some new information from a reliable source. (I assume you're referring to the urban legend that JPM was shorting silver in the hundreds of billions of dollars range.) I'd like to see if you have a link backing it up.
The alleged manipulation by JP, etc appears to be out of control.
quote:That is only a problem to a few, conspiracy theorist true believers.....
Problem: what do we have in gold inventory anyway?
ETA: Welcome to the real world of the Money Talk Board.
PS-Do you own any Iraqi dinars???
This post was edited on 6/6/11 at 3:00 pm
Posted on 6/6/11 at 9:38 pm to LSURussian
Nada Dinars
Posted on 6/6/11 at 10:35 pm to Paulu
quote:
Interesting question. Quandry when we are the largest debtor nation in history.
What does that even mean?
Would you like to talk about the intricacies of BOP accounting with us. I have a feeling that should be a good time.
Posted on 6/7/11 at 5:18 am to TheHiddenFlask
Sure - how about the Fed Reserve too.
Posted on 6/7/11 at 9:23 am to Paulu
quote:Okay, you go first.
Sure - how about the Fed Reserve too.
Posted on 6/7/11 at 1:17 pm to LSURussian
Private banking or Federal Government controlled???
Posted on 6/7/11 at 2:40 pm to Paulu
You don't know how much I hate posting a link to a goldbug site, but here is the testimony about the Federal Reserve ownership of gold. Forget the rest of the article, but concentrate on the testimony only. Alvarez says that the Fed turned over their gold to the treasury in 1934 just as my grandfather had to relinquish his gold. The FED was issued certificates.
goldbug
I am holding my nose posting this because IMO gold is just a commodity. I look at young people today and I do not believe that going forward they will accept a gold backed currency. A currency has to be accepted in order to work and the populace has to have faith in whatever backs the currency. I just don't think that the children of the digital age will care about gold.
quote:
Scott Alvarez: “The Federal Reserve does not own any gold at all… we have not owned gold since 1934, um, so we have not engaged in any gold swap. Before 1934 the Federal Reserve did, we did own gold. We turned that over by law to the Treasury and received in return for that gold certificates.” Ron Paul: “…You have the securities for essentially all the gold?” Scott Alvarez: “No. No we have no interest in the gold that is owned by the Treasury. We have simply an accounting document that is called gold certificates that represents the value at a statutory rate that we gave to the Treasury in 1934?
goldbug
I am holding my nose posting this because IMO gold is just a commodity. I look at young people today and I do not believe that going forward they will accept a gold backed currency. A currency has to be accepted in order to work and the populace has to have faith in whatever backs the currency. I just don't think that the children of the digital age will care about gold.
Posted on 6/7/11 at 2:57 pm to Blakely Bimbo
quote:
I am holding my nose posting this because IMO gold is just a commodity. I look at young people today and I do not believe that going forward they will accept a gold backed currency. A currency has to be accepted in order to work and the populace has to have faith in whatever backs the currency. I just don't think that the children of the digital age will care about gold.
Took the words right out of my mouth. When push comes to shove, gold is simply a commodity that I do not see tons of inherent value. Yes, it is a great conductor and is in high demand due to the jewelry market, but I do not see inherent value that makes gold a more secure backing than anything else in this world.
If shite ever does hit the fan and the world economy shuts down, gold is not what I want to be using to barter.
This post was edited on 6/7/11 at 2:58 pm
Posted on 6/7/11 at 3:30 pm to lynxcat
Yes - gold is a commodity. Silver has better industrial values.
Gold and Silver go back hundreds of years as "money" - even thousands.
China and India are buying tons of the precious metals.
Tough situation because when we actually have to adjust rates up, our interest payments are going to eat most of our revenue. Like a poorly run bankrupt business that cannot cover operating expenses let alone pay interest on an interest only loan.
Gold and Silver go back hundreds of years as "money" - even thousands.
China and India are buying tons of the precious metals.
Tough situation because when we actually have to adjust rates up, our interest payments are going to eat most of our revenue. Like a poorly run bankrupt business that cannot cover operating expenses let alone pay interest on an interest only loan.
Posted on 6/7/11 at 3:35 pm to Paulu
quote:
Yes - gold is a commodity. Silver has better industrial values.
Gold and Silver go back hundreds of years as "money" - even thousands.
China and India are buying tons of the precious metals.
Tough situation because when we actually have to adjust rates up, our interest payments are going to eat most of our revenue. Like a poorly run bankrupt business that cannot cover operating expenses let alone pay interest on an interest only loan.
I see where you are going with this but you are looking at the entire situation as static. If the US loses purchasing power and the government begins defaulting, the ripple effects across the world economy will be larger than we have ever seen in human history. India and China will lose a primary selling partner for their products destroying their economies at the same time as the US.
Posted on 6/7/11 at 3:55 pm to Baylor
quote:
Baylor
quote:
Yea, this thread is several weeks old.
I sold about 3.5 weeks ago.
"Date Fail" on my part. Sorry.
Looks like the prevailing wisdom on the $ board is that we are either at or near a corrective bottom or.......on brink of total collapse of the US economy. I think I'll go with at or near the bottom of a correction. I'll be on the lookout out for stocks to be putting in a decent bottom and jumping back in sometime over the summer.
Most of my retirement is usually in broad based investment vehicles not individual stocks so timing market swings is more critical than idividual stock fluctuations.
Posted on 6/7/11 at 4:08 pm to Sid in Lakeshore
The Trannies and the Financials (track the ETF XLF) have been breaking down. Don't think we have seen the intermediate bottom and need to look for an up move.
Posted on 6/7/11 at 4:53 pm to Sid in Lakeshore
I don't think this board has any kind of consensus at all on the direction of the market.
Posted on 6/7/11 at 5:10 pm to kfizzle85
quote:
I don't think this board has any kind of consensus at all on the direction of the market.
Outside of particular securities, the board almost never has a consensus. I agree, kfiz.
LKND is probably the closest we have had to a consensus
Posted on 6/7/11 at 6:04 pm to Paulu
quote:Do you think you are limited to the number of characters you can use to post a question or comment on this board?
Private banking or Federal Government controlled???
If not, please start using complete sentences so that we can KNOW WHAT THE frick YOU ARE TALKING ABOUT!!!!!!!
Posted on 6/7/11 at 6:48 pm to lynxcat
quote:
gold is not what I want to be using to barter.
correct, guns, ammo, food and water are the real commodities once it hits, if it hits....
This post was edited on 6/7/11 at 6:50 pm
Posted on 6/7/11 at 7:03 pm to Fat Bastard
Necessities - add booze and wine to the list. Gonna need plenty if we get to that situation
This post was edited on 6/7/11 at 7:26 pm
Posted on 6/7/11 at 7:05 pm to lynxcat
Excellent points
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