Something's crazy! Dallor up, & PM's up!

Bullish

I havn't ever seen this before. It started last week. Oil also is goin down. All of this, goes against everything you learn. I mean, i know you have to think ( Outside the box)! They say oil is not in demand? We all know, that's not right! Are the PM's gaining more value? With the dollar, going up as well? Dollar sure is!! I know these are crazy times, but if anybody know's how or why this possible. Please feel free to chime in!

rgCoinGuy

Well, having Jim Cramer coming on The Today Show this morning and telling people if they are going to need their money from their stock portfolios in the next five years, take the hit and take it out today, there are not a lot of safe places to keep your money.

For those that didn't see it (and I know a lot of people see him as a crackpot) he predicted a 20% further drop in the stock market. When that is on THE TODAY SHOW, makes you wonder....

And Dollar is spelled with the vowels the other way around

Bullish

<< <i>Well, having Jim Cramer coming on The Today Show this morning and telling people if they are going to need their money from their stock portfolios in the next five years, take the hit and take it out today, there are not a lot of safe places to keep your money.

For those that didn't see it (and I know a lot of people see him as a crackpot) he predicted a 20% further drop in the stock market. When that is on THE TODAY SHOW, makes you wonder....

And Dollar is spelled with the vowels the other way around >>



Thanks, i noticed that! There saying the dow could be lower than 10,000 today!

rgCoinGuy

It's only 100 away at the moment, 5 minutes into trading....

And gold shot up, 875 now....

SaorAlba

Great, because I have to buy €uros next week

OPA

<< <i>Great, because I have to buy €uros next week >>



You b in luck .... Euro is down to 1.35

Placid

Europe is in trouble like us and their currency is not linked to a single goverment like the dollar so doing things to help the euro is harder for them.
Euro down= dollar up and it would seem a lot of europeans are moving their money into gold so demand for gold up.

rgCoinGuy

$9989 35 minutes into trading

Placid

I think the fed will announce a rate cut soon.

illini420

<< <i>$9989 35 minutes into trading >>



even lower now... but Gold is still doing relatively well...

mkman123

awesome to see all the PMs up! thats the way it should be! It might be a great day for gold!

Bullish

I wonder if platinum, will break $1000 today? Haha

Bullish

Wow! 9830 Dow

mkman123

shoot, silver just dropped some. Roller coaster day! I wonder if gold might hit 900! That would be neat to see if Plat dropped to 900. lol

roadrunner

Over the last few years - esp in 2005-2006, it was not unusual to see the dollar and gold rise together. It could be manipulation or something else. To see them track together in the same direction for days or weeks would be odd to say the least.

Gold stocks are still getting hammered so all forms of gold aren't doing the same. But $20 Saints are flying again with 64's up almost 6% since Friday at opening bell today (over $1400). 65's were up 5% (over $1700). The PPT can't manipulate these prices (lol). I'd guess that gold stocks are still being thrown out with the bathwater (ie the stock market). A little nudge from the PPT wouldn't be out of the question. That's probably part of what turned gold at $875, though not all of it by any means. What's happening in EU today?

roadrunner

notwilight

I said last week that when the bailout passed they would finally see that it won't fix the problem and the flight to quality will resume and gold will keep going up. --Jerry

MilesWaits

<< <i>Over the last few years - esp in 2005-2006, it was not unusual to see the dollar and gold rise together. It could be manipulation or something else. To see them track together in the same direction for days or weeks would be odd to say the least.

Gold stocks are still getting hammered so all forms of gold aren't doing the same. But $20 Saints are flying again with 64's up almost 6% since Friday at opening bell today (over $1400). 65's were up 5% (over $1700). The PPT can't manipulate these prices (lol). I'd guess that gold stocks are still being thrown out with the bathwater (ie the stock market). A little nudge from the PPT wouldn't be out of the question. That's probably part of what turned gold at $875, though not all of it by any means. What's happening in EU today?

roadrunner >>



Do you attribute the rise in Saints to the fear of confiscation RR?
Miles

FullStrike

Thinking themselves wise, they became fools. The buffoons on Wall Street never did come from the highest of the IQ pool.




The Dollar ( paper ) is king now. Only thing is, it will soon become as common as Toilet Paper, hence PM's as a hedge. It's kinda hard to lug around a semi-trailer full of paper.

57loaded

there's screaming on the floor for the Fed to make a rate cut (yet they are giving away "free" money at the Fed)

in a handbasket we are goin'

there was much bad news ignored last week because of the coffee mug bailout the Titanic goings on....should really just let that sink , because the markets KNEW it wasn't enough.

LIBOR

ECB

Iceland ...glaciers are growing so they need to sell their Country as a solution to greenhouse gasses (i know that makes no sense but what does?)

roadrunner

Another reason for the apparent dollar strength is the need to exchange dollars to settle foreign debts. It's not that these buyers want to do it in as much as they have to do it. Once the currency markets settle down things will be clearer.

Do you attribute the rise in Saints to the fear of confiscation RR?.....Miles

I can conjecture that there is also a liquidity squeeze on these slabbed $20's and new investors just started asking for them. When you figure that a few hundred or a couple of thousand pieces would empty the excess on the market pretty quick, it wouldn't take long to show up in prices. I calculated a while back that if someone wanted every NGC/PCGS MS65 generic saint that they could corner the market with $100 MILL or so...if they were so inclined. It was incredible to me that only several weeks ago the 65 saints had been beat back down to $1350 or so (summer 2006 levels), though I'm not sure if any were actually trading at these levels. If you compare the quantity of Slabbed Saints overhanging the coin market at any time vs the amount of bullion gold it's not even a horse race. I'm just surprised it took this long for the MS65's to wake up again...but for how long? Ironically, the price of the 66's has been almost stagnant. A very odd market indeed. The fact that a MS61 $20 Lib which is not really more than bullion is now $1300 seems insane to me. But someone wants them, and obviously badly. We theorized here years back that down the road, slabbed $20 Libs could be a fairly scarce item and could carry a hefty premium to bullion. But until now we'd not seen this type of demand. The premium on 61's vs 1 oz of pure bullion has gone from around $50-$100 to $425.

roadrunner

JoesMaName

<< <i>
...
The premium on 61's vs 1 oz of pure bullion has gone from around $50-$100 to $425.

roadrunner >>



That may be the case on paper and perhaps some auctions - but J6P won't see it when he tries to sell one in his local B&M or PM shop.
MS60 & 61s (and even 62s) will most likely get discounted from bullion as being only 90%...

halfhunter

The premium on 61's vs 1 oz of pure bullion has gone from around $50-$100 to $425.

Kinda of like worn out Morgans selling for more than one ounce .999 govt. issued bullion coins. . . & folks are snapping them up.

Regards, John

roadrunner

That may be the case on paper and perhaps some auctions - but J6P won't see it when he tries to sell one in his local B&M or PM shop.


Who in their right mind is going to offer these to his or her local B&M shop when there are major gold dealers who buy at fairly close spreads (approx 3-6%) to their sell prices? I've never sold any slabbed gold to my local B&M's. I only buy it from them. Frankly, it's been a very rare occurence when I can afford to sell to my local B&M. There is almost always a stronger price from knowledgeable wholesalers or even national retailers. And usually the price differential can be staggering.

roadrunner

dbcoin

RR

where are you quoting your prices from? certifiedcoinexchange has shown no movement of any size in a long time.

MS65 Saints are at $1365, basically the same price from early January of this year

roadrunner

Heritage.

I'd guess you should call CCE and load up on Saints at $1365. Most of this movement has occurred in a very short period.

roadrunner

500Bay

I know the effect looks the same, but I am not so sure it is the dollar going UP, as much as the Euro is going DOWN.

It seems that when this all shakes out both dollars and euros (and most other currencies as well) will all be worth less in terms of purchasing power. The relative value to each other may change - but both will be headed down for while.

If, that is a big IF, this bailout works, we could get through this OK in a few years. I hope for all our sakes that this works.

I'm glad I am 'only' 44. I still have time. My parents generation is the one that will have this the toughest, as they are retired and do not have the years to ride this through and rebuild.