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Goldman Sachs shorting gold.....Citi panning gold too!

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  • shorecollshorecoll Posts: 5,447 ✭✭✭✭✭
    If people want to play poker against guys who have $Bs and $Ts in their accounts, more power to you.

    All financial assets are artificially inflated and "they" have told you they are and "they" have told you they're going to keep them that way for at least two more years.

    If you want to bet against those powers, knock yourselves out! image

    (They refers to govts and central banks)
    ANA-LM, NBS, EAC
  • derrybderryb Posts: 37,619 ✭✭✭✭✭


    << <i>Because the economy has made a stunning turnaround and under President Obama federal spending is growing the slowest rate in decadeas. >>


    Rate of spending growth is irrelevent when you are spending record amounts. The only stunning turnaround I see in the economy is the record number of Americans dependent on Washington for life support.

    How about a chart on food stamp recipients and one on number of Americans below poverty level. Show me a chart where the federal debt has been lowered and not increased. image

    No Way Out: Stimulus and Money Printing Are the Only Path Left

  • bidaskbidask Posts: 14,022 ✭✭✭✭✭


    << <i>Are you buying or selling ? >>

    SELL!
    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.




  • renomedphysrenomedphys Posts: 3,813 ✭✭✭✭✭


    << <i>This time who knows?I personally think the economy is on an artificial high!image >>



    What a looooong, strange trip it's been image
  • MacCrimmonMacCrimmon Posts: 7,058 ✭✭✭
    My ZSL trade is SMASHING! image
  • derrybderryb Posts: 37,619 ✭✭✭✭✭


    << <i>My ZSL trade is SMASHING! image >>


    try out DSLV. imageimage

    No Way Out: Stimulus and Money Printing Are the Only Path Left

  • FredWeinbergFredWeinberg Posts: 5,924 ✭✭✭✭✭

    Coin Shop's Phone Rings:

    "Hello, can we help you?"

    "Yes, do you deal in Precious Metals?"

    "No, we deal in gold and silver"
    Retired Collector & Dealer in Major Mint Error Coins & Currency since the 1960's.Co-Author of Whitman's "100 Greatest U.S. Mint Error Coins", and the Error Coin Encyclopedia, Vols., III & IV. Retired Authenticator for Major Mint Errors for PCGS. A 50+ Year PNG Member.A full-time numismatist since 1972, retired in 2022.


  • << <i>

    << <i>

    Bubbles burst and I expect the market to crash again. Why should the market be at an all-time high, with the economy still so bad and our national debt skyrocketing? If PMs drop a lot, I'm going to load up. >>



    Because the economy has made a stunning turnaround and under President Obama federal spending is growing the slowest rate in decadeas.
    >>



    Interesting graphs you got there...

    You don't happen to also graphs that illustrate Obama's stunning "Labor Participation" rates, do you?
    Or perhaps a graph on US debt?
    Or perhaps a graph on our debt as a percentage of GDP?
    Or perhaps a graph on foodstamp usage?
    Or perhaps a graph on retail sales?
    Or perhaps a graph of the number of Senate votes that Obama's last three budget proposals have received?
  • MrEurekaMrEureka Posts: 24,412 ✭✭✭✭✭
    Speaking of graphs, here's a request. Can anybody here provide a graph showing the cumulative total value of QE vs the cumulative increase in the national debt over the same period of time?
    Andy Lustig

    Doggedly collecting coins of the Central American Republic.

    Visit the Society of US Pattern Collectors at USPatterns.com.
  • CoinJunkieCoinJunkie Posts: 8,772 ✭✭✭✭✭


    << <i>

    << <i>

    << <i>

    Bubbles burst and I expect the market to crash again. Why should the market be at an all-time high, with the economy still so bad and our national debt skyrocketing? If PMs drop a lot, I'm going to load up. >>



    Because the economy has made a stunning turnaround and under President Obama federal spending is growing the slowest rate in decadeas.
    >>



    Interesting graphs you got there...

    You don't happen to also graphs that illustrate Obama's stunning "Labor Participation" rates, do you?
    Or perhaps a graph on US debt?
    Or perhaps a graph on our debt as a percentage of GDP?
    Or perhaps a graph on foodstamp usage?
    Or perhaps a graph on retail sales?
    Or perhaps a graph of the number of Senate votes that Obama's last three budget proposals have received? >>


    Actually, the most germane graph to this discussion would be one of the stock market since W left town.

    image


  • << <i>Actually, the most germane graph to this discussion would be one of the stock market since W left town.

    image >>



    Why? Is that that graph that illustrates how stunningly awesome the overall US economy has been the last 5 years?
    image
  • coinkatcoinkat Posts: 23,816 ✭✭✭✭✭
    I am still waiting on the official word from Ralph Bellamey and Don Ameche

    The rest of you are on your own

    Experience the World through Numismatics...it's more than you can imagine.

  • RYKRYK Posts: 35,799 ✭✭✭✭✭


    << <i>Are you buying or selling ? >>


    I just bought a filthy CC $20 in an OGH today, and if I had to do it over, I would do it again. image
  • SkyManSkyMan Posts: 9,493 ✭✭✭✭✭
    Give Goldman credit.
  • s4nys4ny Posts: 1,573 ✭✭✭
    Yes, Goldman got a read on shifting sentiment towards gold and took advantage of that
    with a very profitable call. Congratulations! They are, as always, the "smartest guys in the room."

    I am hearing now that one of the items that may have contributed to Goldman's analysis
    is the new requirement that gold buyers in India (a huge market) now have to supply a tax ID number.
    That political move has greatly reduced demand in India and Goldman saw this happening.

    India also raised import taxes on gold this year.
    "...India produces virtually no gold and imports about 700 tons every year to feed massive domestic demand."


  • jmcu12jmcu12 Posts: 2,452 ✭✭✭
    Locally, Indians account for, in my estimation only, about 90% of the people looking to buy gold.

    And it has to be pure, .9999. They will NOT buy anything less pure and are willing to pay stupid premiums to do so.....

    Crazy IMO but to each his/her own.
    Awarded latest "YOU SUCK!": June 11, 2014
  • CakesCakes Posts: 3,687 ✭✭✭✭✭


    << <i>Yes, Goldman got a read on shifting sentiment towards gold and took advantage of that
    with a very profitable call. Congratulations! They are, as always, the "smartest guys in the room."

    I am hearing now that one of the items that may have contributed to Goldman's analysis
    is the new requirement that gold buyers in India (a huge market) now have to supply a tax ID number.
    That political move has greatly reduced demand in India and Goldman saw this happening.

    India also raised import taxes on gold this year.
    "...India produces virtually no gold and imports about 700 tons every year to feed massive domestic demand." >>



    Don't quote me on this but I pretty sure supplying the tax id number has been in place for awhile now. I know some buyers try to smuggle in their gold to try and get around the tax.
    Successful coin BST transactions with Gerard and segoja.

    Successful card BST transactions with cbcnow, brogurt, gstarling, Bravesfan 007, and rajah 424.
  • TwoSides2aCoinTwoSides2aCoin Posts: 44,572 ✭✭✭✭✭


    << <i>Coin Shop's Phone Rings:

    "Hello, can we help you?"

    "Yes, do you deal in Precious Metals?"

    "No, we deal in gold and silver" >>



    That pretty much takes the shine out of it imageimage
  • RaufusRaufus Posts: 6,850 ✭✭✭✭✭


    << <i>It's always interesting to me to read threads on pm's on these boards. People tend to be either totally pro-pm's or they think that pm's are a waste of time.

    Last I checked, a properly diversified portfolio was the best way to make money. Obviously people can argue over the percentages you hold in each, but if you own stocks, bonds, pm's and real estate the odds are that you'll consistently make money. Also, you can throw in a percent or two of more "untraditional" investments such as rare coins, rare wine, fine art etc. and have some fun along the way. >>



    Great post!
    Land of the Free because of the Brave!
  • goldbuffalogoldbuffalo Posts: 645 ✭✭✭


    << <i>Give Goldman credit. >>



    For what? Massive manipulation?

    They've been shorting gold for a while, they have this massive short position, then, when everyone is ready they put out a story about how gold will go down. Gold goes down, GS covers their position and laughs all the way to the bank.


    What troubles me is why people listen to an investment company/bank, that lost ALL its money.

  • bidaskbidask Posts: 14,022 ✭✭✭✭✭
    Goldman call on gold now 1050 next year.....!!


    Goldman call.....limage
    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.




  • s4nys4ny Posts: 1,573 ✭✭✭
    They are trend followers. That's all. I have been following
    their research for years, mostly on stocks, and it is about
    average.

  • bestdaybestday Posts: 4,242 ✭✭✭✭


    << <i>Zero Hedge had a good article on this today. Maximum volatility + maximum leveredge = maximum profit$! Ka-ching! >>



    New Gold low in late dec early jan.. bull market start in spring of 2014
  • Ed62Ed62 Posts: 857 ✭✭
    Gold goes up when the rate of inflation less the Federal funds rate is more than 2%.

    Gold goes down when the rate of inflation less the Federal Funds rate is under 2%.

    Look it up for yourselves.

    Prediction: Gold will continue to go down.
    Ed
  • coinkatcoinkat Posts: 23,816 ✭✭✭✭✭
    Still waiting to hear from Ralph and Don...

    While looking at past trends is helpful, what was the interest rate environment? I would agree that gold has downside if the prime rate was at 4-5%. Goldman and Citi are overlooking that the cost of owning gold still remains cheap especially considering alternatives

    Experience the World through Numismatics...it's more than you can imagine.

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