Home Precious Metals

GOLD AND SILVER WORLD NEWS, ECONOMIC PREDICTIONS

17879818384217

Comments

  • 4000!
  • BearBear Posts: 18,953 ✭✭✭
    Only two emotions rule the investment field.

    GREED & FEAR...............................................
    There once was a place called
    Camelotimage
  • Great posts from everyone the last few days!!

    "Isn't Treasure Secretary Paulson the former CEO of Goldman? If so, that seems like a conflict of interest to have the Fed bail 'em out for their stupidity."

    Doogy,
    Heaven forbid we might see any conflicts of interest out there, this just could not happen, Ha Ha!


  • << <i>Only two emotions rule the investment field.

    GREED & FEAR............................................... >>

    fear appears to be winning, hopefully we will not break thru support levels cos if we do ....look out below!!!
    Buy the dips!!!
  • BearBear Posts: 18,953 ✭✭✭
    If it breaks thru 12,500, bar the door Nellie.
    There once was a place called
    Camelotimage
  • mhammermanmhammerman Posts: 3,769 ✭✭✭
    OK, I believe we have lift off.

    My "Trading Manager" called me today and after some small talk, asked if he could help me with any stock purchases. I said no. He asked how I was doing with my stocks and I told him I got rid of all but a couple of my stocks back in June and I was not going to trade anything until things stablilize considerably. Then he asked me about my retirement portfolio and asked if I needed to add any thing to my retirement plan...I said no, I'm still working and all's well. Then he asked if there ware any investments that he could help me with and I said no.

    I haven't heard from these guys for over a year and now they are calling me up out of the blue. Anyone else seeing this type of activity? Me suspects they are short of traders. Things get curiouser and curiouser.

  • BearBear Posts: 18,953 ✭✭✭
    When things are good......Indifference and arrogance!

    When things are bad........Attention and humility.

    Some things never change about stock brokers!
    There once was a place called
    Camelotimage
  • critocrito Posts: 1,735
    Don't "churn" yourself mhammerman.
    http://en.wikipedia.org/wiki/Churning_(stock_trade)

    And to someone who took advice to "stay in" when the NASDAQ was at 5000, a 50 point drop only seems like 1%. Nothing to fear if you ask me. Go outside and look around. The world won't cease to exist if crooks go broke. Might even be a better place to live, actually.
  • critocrito Posts: 1,735
    When the NASDAQ first started pulling back the financial experts (market pumpers) on TV were saying "anyone who buys gold @ $300/oz is a looser" and "look what a bargain JDSU is at only $70/shr." Same guys are saying the same cr@p today. It just amazes me that they can get away with giving such bad advice and stay on the air. I guess the public really does have a short memory. Must be why people go on and on about the "Bush administration's illegal wiretapping" and have absolutely no recollection that Clinton started it all. http://www.altavista.com/web/results?q=Bill+Clinton+Echelon http://www.alamo-girl.com/0024.htm

    Think I'll go out dancing again tonight. image
  • Stocks in Australia and Japan down double the Dow losses today , looks like the knife is still dropping!
    Gold holding steady , bottom falling out of silver platinum and palladium
    Dollar still rising
    Buy the dips!!!
  • This credit mess may spillover into the money market funds. If this happens we may be looking at 12,000 dow by next friday.
  • critocrito Posts: 1,735
    Glad to see the irrational exuberance in the housing market being tempered by the fundamentals.
  • critocrito Posts: 1,735
    Anyone listening to the talking heads on CNBC this morning? Apparently skyrocketing rent has no effect whatsoever on consumer spending. Rich people losing money on their million dollar homes, however, spells catastrophe for the whole economy. LOL. Homeless people can't rent a cardboard box in NYC for less than 100 grand these days. Bubble? What bubble? I don't see no stinkin' bubble. All I see is my own selfish, self interests.
  • “This credit mess may spillover into the money market funds. If this happens we may be looking at 12,000 dow by next friday.”

    Asin ,
    Interesting comment, as some of the money market funds are already admitting to investing in illiquid CDO products they cannot get their money out of?

    Here is an interesting thing to watch, on CNBC yesterday a real old time floor trader said his greatest fear was that the derivate Yen carry trade would be FORCED to totally unwind if the YEN got much stronger!

    The Yen is up today 2.73%

    Gold down again today $14.90 ????

    “Bubble? What bubble? I don't see no stinkin' bubble.”
    PRICELESS
  • mhammermanmhammerman Posts: 3,769 ✭✭✭
    OK, gold is finally starting to slip from it's comfortable and steady $670. Maybe folk are dumping assets to stay afloat and there's plenty of product in an environment with diminished demand or perhaps diminished where with all. Oh well, for what ever reason...yum, yum.

    edited to add: “'Bubble? What bubble? I don't see no stinkin' bubble.'
    PRICELESS"-ditto

  • cohodkcohodk Posts: 19,102 ✭✭✭✭✭
    Gold and precious metals are a "safe haven". ROTFLMAO

    Gold is an insurance policy. ROTFLMAO

    Real estate is a guaranteed winner. ROTFLMAO

    Dont own cash. You will be killed. The dollar sux. ROTFLMAO



    I gotta stop. Getting a belly ache from laughing so much.image
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • critocrito Posts: 1,735
    You gotta give the liquidity injection time to trickle down. Then things will get really frickin' hilarious.

    The bankers who made all the bad decision can sleep easy knowing Bernanke will always rush to their rescue though. They can't lose. Only you and I can lose. Capital markets exist for them, not us.

  • OPAOPA Posts: 17,119 ✭✭✭✭✭
    FYI.....All precious metals are down considerably today..........Gold at $648.....Silver at $11.40 ..... Platinum at $1,226.....big drop for all 3. Is it time to jump in or wait until after the dust settles.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • cohodkcohodk Posts: 19,102 ✭✭✭✭✭


    << <i>FYI.....All precious metals are down considerably today..........Gold at $648.....Silver at $11.40 ..... Platinum at $1,226.....big drop for all 3. Is it time to jump in or wait until after the dust settles. >>



    I thought metals were supposed to protect me in times of economic distress. What gives?
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • OPAOPA Posts: 17,119 ✭✭✭✭✭


    << <i>

    << <i>FYI.....All precious metals are down considerably today..........Gold at $648.....Silver at $11.40 ..... Platinum at $1,226.....big drop for all 3. Is it time to jump in or wait until after the dust settles. >>



    I thought metals were supposed to protect me in times of economic distress. What gives? >>




    Another Fairy Tale down the crapper ...
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • ARCOARCO Posts: 4,396 ✭✭✭✭✭


    << <i>Stocks in Australia and Japan down double the Dow losses today , looks like the knife is still dropping!
    Gold holding steady , bottom falling out of silver platinum and palladium
    Dollar still rising >>



    Yes, it is a bloodbath in the markets. The dollar is rising because there are probably a trillion less notional dollars in existance now!! image
  • plansimplansim Posts: 185 ✭✭
    The "clinton did it" excuse is REAL REAL REAL REAL REAL REAL old right now.

    Bush came into power promising to "clean up the White House" and "restore integrity".

    So, according to the "But...but...but Clinton did it" excuse, Bush is either:

    1) an in-your-face liar
    2) criminally incompetent

    You make the choice. image
  • TwoSides2aCoinTwoSides2aCoin Posts: 44,286 ✭✭✭✭✭
    Food tastes good, still image
    Let us be thankful in all things, brothers.
  • plansimplansim Posts: 185 ✭✭
    Speaking of the markets, it looks like any rally in the making gets stomped down right away with people trying to cash out of their positions. Add to this all the technical resistance lines being broken, and it is Bad News.

    The warnings for the last 5 years about the several hundred trillion in derivative exposure by the banks and brokers is finally coming home to roost. And it is squarely the fault of one guy: "Medal Of Freedom" winner Greenspan. He lowered rates enough to make money essentially free, which he did starting in 2001 to try to stop the recession that was overdue. Nothing like unregulated capitalism to make people's dreams come true...err, at least a few (the upper 0.1%) people's dreams.

    Options expiration day (tomorrow) should be real fun. I'll be taking a few positions in them today since the time premiums are at zilch. Then, on Friday popping some popcorn and watching the fun.
  • 2ndCharter2ndCharter Posts: 1,656 ✭✭✭✭✭
    I agree - the refrigerator is full - the house is paid for - the cars are paid for - my collectibles are paid for. I don't have a ton of money to play with like the speculators getting burned but the basics are covered. (and my health is good) Be thankful for what you have.....

    Member ANA, SPMC, SCNA, FUN, CONECA



  • << <i>

    << <i>

    << <i>FYI.....All precious metals are down considerably today..........Gold at $648.....Silver at $11.40 ..... Platinum at $1,226.....big drop for all 3. Is it time to jump in or wait until after the dust settles. >>



    I thought metals were supposed to protect me in times of economic distress. What gives? >>




    Another Fairy Tale down the crapper ... >>



    Nah! Not at all. I've seen silver lose more than this percentage wise in 36 hours before. It's already picked up over 30 cents from the low point. This is a buying opportunity.

    Gold has lost very little percentage wise when compared to the overall market.

    The sky isn't falling and holding the real metal is always better than paper in times like this. Besides, haven't we been predicting this for years? I know I have. PMs will climb out of this in the short order, the market still has a ways to fall yet.

    If you bought silver or gold in the last 3 years you are still way ahead. Some of us were buying 6-7 years ago. We're even further ahead.

    This is not a time of gloom and doom, it's just a correction and metals are still a smart play.

    Yes, metals will protect us in times of economic distress, it's no fairy tale.
    "Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose."
    John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff


  • << <i>The "clinton did it" excuse is REAL REAL REAL REAL REAL REAL old right now.

    Bush came into power promising to "clean up the White House" and "restore integrity".

    So, according to the "But...but...but Clinton did it" excuse, Bush is either:

    1) an in-your-face liar
    2) criminally incompetent

    You make the choice. image >>



    Better questions to ponder:

    1) You are on the wrong forum. Left-wing loonies have plenty of places to vent their insanity.

    2) You have some weird sort of personal ax to grind but don't know how to do it or you don't know what you are talking about.

    You make the choice.

    Personally, I think it's both.
    "Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose."
    John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
  • critocrito Posts: 1,735
    Someone at CNBC should interview Jake Butcher, from the old UAB here in Knoxville, so we can finally get to the bottom of this capitalism thing. But then people might discover capitalism has more to do with politics than economics.
    http://en.wikipedia.org/wiki/Jake_Butcher

    BTW, Jake Butcher gave me my first computer in 1979 and I'll always be indebted to him for that. Thanks Jake!
  • plansimplansim Posts: 185 ✭✭
    > Personally, I think it's both.

    What, no smiley face?

    I'll pray to Jesus that you'll be less hateful and more open to other opinions. After all, over 70% of Americans dislike Bush's policies. That is an AWFUL lot of "left wing loonies" to hate. image
  • DoubleEagle59DoubleEagle59 Posts: 8,307 ✭✭✭✭✭
    Just traded all my gold for silver. (just increased my precious metal's holdings (silver) by 10%. Not too bad on a 'down' day).

    Hopefully, in about 6 to 12 months when the ratio goes back to about 48:1, I'll exchange the silver back to gold (making another 10%).

    I've been playing the gold:Silver ratio for over twenty years.

    It's a great way to build up precious metal reserves (without spending additional money) in Good and Bad times.

    I exchange all gold for silver when the ratio is north of 55 and trade it back to silver when the ratio is lower than 47.

    Also.....this downturn in the precious metals market is still a great buying opportunity. Don't think this is the end of the metal's Bull market run.

    "Gold is money, and nothing else" (JP Morgan, 1912)

    "“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)

    "I only golf on days that end in 'Y'" (DE59)
  • mhammermanmhammerman Posts: 3,769 ✭✭✭
    "Sunday February 25, 2007 7:06 PM



    I think "deep reserves" refers to the idea that the gold is not very high on the govt's asset list.

    BTW---I believe volatility is aboyt to make its way back into the equity markets. Investors would be wise to keep an eye on BRIC. "

    And the award goes to our very own...cohodk
  • DoogyDoogy Posts: 4,508


    << <i>> Personally, I think it's both.

    What, no smiley face?

    I'll pray to Jesus that you'll be less hateful and more open to other opinions. After all, over 70% of Americans dislike Bush's policies. That is an AWFUL lot of "left wing loonies" to hate. image >>




    by the looks of the his log-in ID, you truly are 'beating a Deadhorse'. As an Independent, i'll be the first to say that Clinton had some screwed up policies, but Bush's mess takes the cake. To quote John McCain on the administration's fiscal responsibility (or lack thereof): "this admin. has spent money like a drunken sailor on shore leave".
  • cohodkcohodk Posts: 19,102 ✭✭✭✭✭
    Hopefully, in about 6 to 12 months

    A lesson I learned from a seasoned pro....HOPE has no place in investiing.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • You'll get a chance next Nov. just like everyone else to make your opinion count.

    Do you believe that posting has anything to do with intelligence in this place? Do you think that's air you're breathing now?

    image


  • << <i>

    << <i>> Personally, I think it's both.

    What, no smiley face?

    I'll pray to Jesus that you'll be less hateful and more open to other opinions. After all, over 70% of Americans dislike Bush's policies. That is an AWFUL lot of "left wing loonies" to hate. image >>




    by the looks of the his log-in ID, you truly are 'beating a Deadhorse'. As an Independent, i'll be the first to say that Clinton had some screwed up policies, but Bush's mess takes the cake. To quote John McCain on the administration's fiscal responsibility (or lack thereof): "this admin. has spent money like a drunken sailor on shore leave". >>



    First, I don't "hate" anybody. Not worth the negative impact.

    Second, nobody beats a deadhorse.

    Third, I am a Libertarian.

    Clinton was a disaster whose legacy is a stained blue dress and 9-11, Bush has been a huge disappointment, but the hatred from the left far outweighs anything the far right had for Clinton. It's totally irrational more often than not. I don't care much for either far sided viewpoint. Besides, each of them is just one of the wings of the bird of prey and we, the people who make the country work and pay all the bills, are simply revenue enhancers and mean little else. We are the prey.

    Anyway, none of this has much to do with this thread. In fact, our real Darth Vader here is the despicable Alan Greenspan.

    PS- Never take anything McCain says without a large block of salt. That guy is pure looney tunes. It's a miracle he's actually a Senator, but thankfully that's all he will ever be.

    Can we please carry on with the topic of this great thread?
    "Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose."
    John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
  • Hah!! Back on topic.

    I just picked up 4 100 oz. Englehards at $11.75!!

    Woo-Hoo!!!

    Been trying to buy, but the stuff has been hard to find locally.
    "Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose."
    John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff


  • Very nice post DoubleEagle 59. I like the way you think. Hope you make a ton. Personally, I'm scared. I too thought that when the stockmarket gets crazy, gold and silver should be at a much stronger position.

    eddye mackimage
  • cladkingcladking Posts: 28,639 ✭✭✭✭✭
    The damage in metals is being caused by the unwinding of the Yen carry trade.

    People borrow yen for next to nothing to invest it all over the world but a dispro-
    portionate amount goes into commodities, especially silver and gold. With the Yen
    soaring they're exposed and have to cover shorts anyway.

    Gold would be up reflective of the current distress except for this and silver would
    be treading water. I think you need to worry more about gold than silver since
    there isn't as much carry trade in it relative the market as silver.

    Silver appears to have decoupled from gold so is no longer good insurance probably.
    It's still a great bull bet though. I still think we'll avoid recession and silver will come
    bounding back.
    Tempus fugit.
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    [ After all, over 70% of Americans dislike Bush's policies.

    Then please explain to me how the man got elected for a 2nd time...................


    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • critocrito Posts: 1,735
    Since Ross Perot got almost 20% of the vote Democans and Republicrats have united to make sure that never happens again. No third party candidate has even the slightest chance. That's also why no one will be going to jail for making bad loans, as in the days of Jake Butcher.

  • critocrito Posts: 1,735


    << <i>Since Ross Perot got almost 20% of the vote Democans and Republicrats have united to make sure that never happens again. No third party candidate has even the slightest chance. That's also why no one will be going to jail for making bad loans, as in the days of Jake Butcher. >>



    Where's page 203? Oh, there it is.
  • bidaskbidask Posts: 14,017 ✭✭✭✭✭


    << <i>Someone at CNBC should interview Jake Butcher, from the old UAB here in Knoxville, so we can finally get to the bottom of this capitalism thing. But then people might discover capitalism has more to do with politics than economics.
    http://en.wikipedia.org/wiki/Jake_Butcher

    BTW, Jake Butcher gave me my first computer in 1979 and I'll always be indebted to him for that. Thanks Jake! >>

    Capitalism meant easy credit but that is changing.
    I manage money. I earn money. I save money .
    I give away money. I collect money.
    I don’t love money . I do love the Lord God.




  • critocrito Posts: 1,735
    I thought it meant the rich get richer and the poor get poorer, regardless of how stupid the rich are or how hard the poor work.



  • I thought metals were supposed to protect me in times of economic distress. What gives? >>


    Another Fairy Tale down the crapper ...
    Also priceless

    “So, according to the "But...but...but Clinton did it" excuse, Bush is either:

    1) an in-your-face liar
    2) criminally incompetent”

    Ha ha ha,
    Who can we blame?
    Ever since the Democrats took over the congress just look what’s happened!


    As far as Gold and Silver go, we should all heed the advice of the big firms on wall Street at this time, “Buy and hold for the long term” that means ten of fifteen years, or until you die!
  • critocrito Posts: 1,735
    The saying is "gold is a hedge against inflation".
  • With the metals going down with the market this shows TRUE Manipulation...the government fused with trillions of dollars and plans to make some money...the free fall will stop when they have placed all their bets.


    NOT to forget: The market will start to rise when all the governments $ have been place.....From out of the blue the Fed will drop the interest rate and the market will fly until the end of the year...and don't forget next year is election year and things have to look rosie!!!!
  • critocrito Posts: 1,735
    I find it more than a little coincidental economist Friedrich Hayek observed a "spontaneous order" that's essentially the same observation physicist Mitchell Feigenbaum made when developing chaos theory. Completely different fields of study, same observation. Now that's REAL science! But I'm sure Bernanke likes to believe he's needed, if only to keep idiotic rich people wealthy at everyone else's expense. image

  • cladkingcladking Posts: 28,639 ✭✭✭✭✭


    << <i>I thought metals were supposed to protect me in times of economic distress. What gives? >>


    Another Fairy Tale down the crapper ...
    Also priceless

    “So, according to the "But...but...but Clinton did it" excuse, Bush is either:

    1) an in-your-face liar
    2) criminally incompetent”

    Ha ha ha,
    Who can we blame?
    Ever since the Democrats took over the congress just look what’s happened!


    As far as Gold and Silver go, we should all heed the advice of the big firms on wall Street at this time, “Buy and hold for the long term” that means ten of fifteen years, or until you die! >>





    It's probably pretty safe to blame just about every republocrat since Hoover. image
    Tempus fugit.
  • plansimplansim Posts: 185 ✭✭
    > Ever since the Democrats took over the congress just look what’s happened!

    I thought there was (at least) an "8 month delay" rule so 911 could be blamed on Clinton.

    This fuzzy math gets awfully confusing.
This discussion has been closed.