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Did anyone predict this?

WeissWeiss Posts: 9,941 ✭✭✭✭✭
On our little board? I can't remember such a dramatic fall as this.

I love it. I wish I had more $$ to put into Au right now. I don't think it's going to happen, but I can see gold hitting $850. I'm not holding out, I'm buying fits and starts.
We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
--Severian the Lame

Comments

  • daOnlyBGdaOnlyBG Posts: 1,060 ✭✭
    As soon as gold and silver prices set a bearish tone, I predicted $18 silver and $1200 gold a little while ago. Before gold and silver set that bearish tone on the charts, I did suspect a big sell-off was coming, due to a lack of consumer and production demands overseas.
    Successful BST transactions with: blu62vette, Shortgapbob, Dolan, valente151, cucamongacoin, ajaan

    Interests:
    Pre-Jump Grade Project
    Toned Commemoratives
  • nibannynibanny Posts: 2,761
    Not a straight forward prediction but at least a couple of members have been calling for a big drop for some time.
    Too bad I didn't listen! image

    I see PMs going even lower.
    The member formerly known as Ciccio / Posts: 1453 / Joined: Apr 2009
  • renman95renman95 Posts: 7,037 ✭✭✭✭✭
    The more negative I see the more bullish I am...not there yet.

    The timing may be off but I would rather buy 10oz here (or soon) than have 10oz from 2011.

    I like discounts when buying things precious. image
  • tnsprotnspro Posts: 786 ✭✭✭


    << <i>I don't think it's going to happen, but I can see gold hitting $850.q]


    At least you covered yourself in the event it does or does not happen.

    Currency Wants: Any note with serial number 00000731
  • WeissWeiss Posts: 9,941 ✭✭✭✭✭


    << <i>

    << <i>I don't think it's going to happen, but I can see gold hitting $850.q]


    At least you covered yourself in the event it does or does not happen. >>



    Heh. What I mean is it wouldn't surprise me--I wouldn't think it's impossible. If someone had told me a month ago gold could hit $850, I wouldn't believe it and I wouldn't have thought it possible.
    We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
    --Severian the Lame
  • WeissWeiss Posts: 9,941 ✭✭✭✭✭
    BTW: I'm still glad I sold at $1800 image
    We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
    --Severian the Lame
  • C0INB0YC0INB0Y Posts: 627 ✭✭
    I doubt anyone could have predict the loss of the Rule of Law in the United States in the last couple of years, which is the root cause of all this.

    COMEX is not going to be investigated.

    If Jon Corzine can get away with actually stealing almost a Billion dollars from his MF Global Client Accounts to cover the MF Global margin calls, how is a 'little' naked shorting of Futures contracts by JPM, HBC (as instructed by the FED) going to rise to any level of concern?

    Expect $1,000 within a few weeks, almost $250 under the Miners 'All-Costs'

    The Banksters want to get into Mine ownership.
    I was ‘COINB0Y' with 4812 posts and ‘Expert Collector’ ranking (Joined in 2006).
  • rickoricko Posts: 98,724 ✭✭✭✭✭
    This is fun to watch...... Cheers, RickO
  • jmski52jmski52 Posts: 22,863 ✭✭✭✭✭
    I am so screwed, after spending a bunch on home improvements (with more to go), we are now gonna need a car pretty soon. Any chance of any bargain purchase is just about out the window.

    You can bet that the price will be going back up. That's as close to a guarantee as I could ever give.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • cohodkcohodk Posts: 19,143 ✭✭✭✭✭
    image
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • derrybderryb Posts: 36,825 ✭✭✭✭✭


    << <i>BTW: I'm still glad I sold at $1800 image >>


    make sure you buy it back for less

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • gsa1fangsa1fan Posts: 5,566 ✭✭✭


    << <i>image >>




    My buddy Dave ~Nailed it!imageimage
    Avid collector of GSA's.
  • mozinmozin Posts: 8,755 ✭✭✭
    If the cost to mine gold in most parts of the world is $1200 an ounce, I don't see why the gold price should drop any farther than $1200. It may take some time for the gold mines to start closing, but they certainly cannot continue operating very long at a loss. I no longer own any gold that I consider straight bullion.
    I collect Capped Bust series by variety in PCGS AU/MS grades.
  • derrybderryb Posts: 36,825 ✭✭✭✭✭
    gold was driven up by speculation beyond its store of value. It is now only settling to its deflationary period value which remains much higher than its pre-deflationary value.

    It remains a store of value and will show its true color when the banks holding all those new dollars on reserve with the FED let the money flow to Main Street. Rising interest rates will push that cash to more profitable allocations - most likely private debt. Increased debt will drive inflation when the spending binge resumes. Now that homes are no longer ATMs, once the spigot opens look for new, creative methods of pusing loans into consumer hands.

    It is quite surprising that gold reached record highs in such deflationary times. Good indicator of where the money runs when the money runs.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    Did anyone predict this? On our little board?

    I did on another site I'm on, just not here. Had I been allowed to be here at the time, I would've here too. Now that I've been allowed to come back thanks to a kind, yet stern DW (and I admit deservedly so) I'm gonna go out on a limb and make a prediction, and mean it this time LOL. (To refresh everyones memory, the "well never see $30 silver again" was said out of total sarcasm).
    Here it is...If you are over 40 years old, you will never see $40 Spot silver again. I call it the 40/40 prediction. Silver has been over $40 twice in my lifetime and I'm getting to be in my late 40's. So I guess if I'm fortunate to live to see 75, I might...but I certainly wont be holding my breath and probably wouldn't care too much about it if it did at that point. All jmho of course.
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • nibannynibanny Posts: 2,761
    Look who's back!

    image
    The member formerly known as Ciccio / Posts: 1453 / Joined: Apr 2009
  • JulioJulio Posts: 2,501
    Welcome back. Miracles never cease. Take care. jws
    image
  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    image Recon probation is over. Where is Gecko?
    Avid collector of GSA's.
  • PerryHallPerryHall Posts: 46,140 ✭✭✭✭✭
    Welcome back.image

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    Welcome back. Miracles never cease

    When a person realizes how stupid something they said was, and the person being apologized to is willing to accept a sincere apology and grants a second chance (actually third image) the person given the new life is very grateful.
    Never realized how much I missed it here till it was snatched away. I'd like to think that I made a few friends here and I must admit I missed being able to chat with them. I even missed the hotly contested debates with some that I guess could be considered a rival.
    To me, going forward, it's a new start and I hope that I can contribute something here as much as I've taken from it.
    Special thanks to PerryHall for creating a thread when I was bammed. It was nice to see how some people genuinely said that I'd be missed. As for those who bad mouthed me on that thread when I couldn't fight back, I'll just say it has been noted and put it in the past. I wonder if they will, or can.
    Anyway, this concludes my comeback speech and it's good to be reinstated, I am truly grateful.
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • SpoolySpooly Posts: 2,108 ✭✭✭
    piecesofme got paroled! Wecome back!
    Si vis pacem, para bellum

    In God We Trust.... all others pay in Gold and Silver!
  • derrybderryb Posts: 36,825 ✭✭✭✭✭
    baley is his parole officer.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • jmski52jmski52 Posts: 22,863 ✭✭✭✭✭
    baley is his parole officer.

    lol, welcome back!
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • cohodkcohodk Posts: 19,143 ✭✭✭✭✭


    << <i>gold was driven up by speculation beyond its store of value. It is now only settling to its deflationary period value which remains much higher than its pre-deflationary value.

    It remains a store of value and will show its true color when the banks holding all those new dollars on reserve with the FED let the money flow to Main Street. Rising interest rates will push that cash to more profitable allocations - most likely private debt. Increased debt will drive inflation when the spending binge resumes. Now that homes are no longer ATMs, once the spigot opens look for new, creative methods of pusing loans into consumer hands.

    It is quite surprising that gold reached record highs in such deflationary times. Good indicator of where the money runs when the money runs. >>



    I mostly agree.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • VanHalenVanHalen Posts: 3,993 ✭✭✭✭✭


    << <i>Did anyone predict this? On our little board?

    I did on another site I'm on, just not here. Had I been allowed to be here at the time, I would've here too. Now that I've been allowed to come back thanks to a kind, yet stern DW (and I admit deservedly so) I'm gonna go out on a limb and make a prediction, and mean it this time LOL. (To refresh everyones memory, the "well never see $30 silver again" was said out of total sarcasm).
    Here it is...If you are over 40 years old, you will never see $40 Spot silver again. I call it the 40/40 prediction. Silver has been over $40 twice in my lifetime and I'm getting to be in my late 40's. So I guess if I'm fortunate to live to see 75, I might...but I certainly wont be holding my breath and probably wouldn't care too much about it if it did at that point. All jmho of course. >>



    Welcome back piecesofme. Pretty bearish prediction to come back with. Never see $40 silver again if you're over 40? I'm paying 10X what I paid 40 years ago for nearly everything I buy. I was a young kid 40 years ago but do remember 36 cent gasoline and 15 cent bottles of pop. (I wasn't old enough to buy the gas then but do remember that number on the Texaco's steel easel sign walking to school).

    I'm in my late 40's now and fully expect to see prices of most everything at 10X their current levels (assuming I pass of natural causes in my 80's). $15 for a bottle of pop and $37 for a gallon of gas? Yep. And maybe a lot more than that.
  • PerryHallPerryHall Posts: 46,140 ✭✭✭✭✭


    << <i>baley is his parole officer. >>

    image

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • CCC2010CCC2010 Posts: 1,997 ✭✭✭


    << <i>Welcome back. Miracles never cease

    When a person realizes how stupid something they said was, and the person being apologized to is willing to accept a sincere apology and grants a second chance (actually third image) the person given the new life is very grateful.
    Never realized how much I missed it here till it was snatched away. I'd like to think that I made a few friends here and I must admit I missed being able to chat with them. I even missed the hotly contested debates with some that I guess could be considered a rival.
    To me, going forward, it's a new start and I hope that I can contribute something here as much as I've taken from it.
    Special thanks to PerryHall for creating a thread when I was bammed. It was nice to see how some people genuinely said that I'd be missed. As for those who bad mouthed me on that thread when I couldn't fight back, I'll just say it has been noted and put it in the past. I wonder if they will, or can.
    Anyway, this concludes my comeback speech and it's good to be reinstated, I am truly grateful. >>



    Welcome Back Rich!!! imageimageimageimage
    References:Coinsarefun,DerryB,Bloodman,Zubie,Gerard,Skyman,Bestclser1,Lakesammman,Yellowkid,PerryHall,Piecesofme,HTubbs,grote15
    Coinfame,Kaelasdad,Type2,UNLVino,MICHAELDIXON
    Justacommeman,tydye,78saen,123cents,blue62vette,Segoja,Nibanny
  • johnny9434johnny9434 Posts: 28,335 ✭✭✭✭✭


    << <i>BTW: I'm still glad I sold at $1800 image >>

    wait for $900 and take it back. double your pleasure
  • BaleyBaley Posts: 22,660 ✭✭✭✭✭
    welcome back Pieces!

    As far as "did anyone predict this?", here is one call of the Gold top from Sept 2011, in this thread , not sure if there's a clearer call of the top on these boards that anyone can find.. Target gold price was and still is $888

    Liberty: Parent of Science & Industry

  • DNADaveDNADave Posts: 7,271 ✭✭✭✭✭
    I wasn't making predictions, but I sold almost all of my silver at $32.00 in the last week of October 2012...put $40,000 on the house principle.

    I was pretty nervous about it, but now I'm feeling great about it....and feeling good about buying now at 15X.
  • renman95renman95 Posts: 7,037 ✭✭✭✭✭
    velcome back comrade p. how was fema camp? is good, no?
  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    velcome back comrade p. how was fema camp? is good, no?

    LOL, thanks. Good to be back and on my best behavior image
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • AmigoAmigo Posts: 966

    Welcome back POM

    LOL, if there was a way to collect from you I'd take a bet on that in a heartbeat. I'm well over 40. I recall 27 cent gas and 5 cent coke and candy bars. New cars for 3000

  • OPAOPA Posts: 17,121 ✭✭✭✭✭


    << <i>Welcome back POM

    LOL, if there was a way to collect from you I'd take a bet on that in a heartbeat. I'm well over 40. I recall 27 cent gas and 5 cent coke and candy bars. New cars for 3000 >>



    Yup...the so called "GOOD OLE DAYS" I remember them like they just happened yesterday, but your $3k for a new cars must be for the higher priced models. I also remember: new tires every 10k miles, change the plugs & caps every 10k miles, transmission overhauls every 70k miles along with a brake job every 15-20k miles....Yup the good old days image
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • jmski52jmski52 Posts: 22,863 ✭✭✭✭✭
    I'm over 60 and I'm making a 60/60 prediction - if you are over 60, you will see silver over $60 in your lifetime.

    Either that, or you'll be seeing $0.75/gallon gas (which is unlikely with oil over $100 now).
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • daOnlyBGdaOnlyBG Posts: 1,060 ✭✭


    << <i>Either that, or you'll be seeing $0.75/gallon gas (which is unlikely with oil over $100 now). >>


    Don't tease me with the thought of $0.75/gal..
    Successful BST transactions with: blu62vette, Shortgapbob, Dolan, valente151, cucamongacoin, ajaan

    Interests:
    Pre-Jump Grade Project
    Toned Commemoratives
  • OPAOPA Posts: 17,121 ✭✭✭✭✭


    << <i>I'm over 60 and I'm making a 60/60 prediction - if you are over 60, you will see silver over $60 in your lifetime.

    Either that, or you'll be seeing $0.75/gallon gas (which is unlikely with oil over $100 now). >>



    Don't tease me with either one and I'm over 70image
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
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