Pay no attention to this topic. nope. none at all.
topstuf
Posts: 14,803 ✭✭✭✭✭
Pay no attention. I'm just arguing with myself about what to do with gold and silver.
Gold has been whacked and silver has been destroyed today 12/15/2016.
So...sell to stop the bleed? Buy while it's cheaper. What?
So the "BANKSTERS" (whoever the hell they are) "sold" ten ..BILLION.. dollars "worth" of
..notional (not actual) gold yesterday AFTER the market (Holy Comex Market in NY) closed
and after the fed announced a MASSIVE rate increase of a ...RANGE... of .25% to .75%
How much is that really? Well at the full bore whopping .75%, that would be $7.50 on $1,000.00
At the lower end... $2.50. YOW! **For tying up a measly ONE THOUSAND DOLLARS...you can get
...TWO AND A HALF....dollars... in a ..YEAR**. Whee.
Result: A higher dollar. How's that gonna play out in the "coming boom" in US exports with
countries who don't have enough "US DOLLARS" to buy our stuff?
Where are the ...US... manufacturers going to find some CUSTOMERS ...just oozing DOLLARS?
Well, if they don't find the customers...gosh... why would they ..HIRE.. anyone?
Which begs a question of where the ..US..customers ..mired in DEBT are gonna find income
to pay off the LOANS they have so wildly ...PROMISED... to pay back?
Recession? Depression? How do they fix THAT?
Ah...lower INTEREST RATES. From almost nothing to ...where?
Payable by people unemployed by a dollar so strong no one can afford the shit they make, sell,
broker, trade, swap, steal?
How's THAT gonna affect the STOCK MARKET....that needs EARNINGS?
ah well.
Okay, back to the "BANKSTERS" who are "selling" all these gold...CONTRACTS?
Now who better than a banker knows the nature of a.....CONTRACT?
Gotta cut em some slack though, with even this PUNY rate hike, it's gonna cut into
the interest arbitrage solidly enough to be some trouble and ...well... bankers don't
worry a lot about COMPETING on rates to grab some business...ANY BUSINESS.
Rate war? Pffhht....** WE OFFER A FULL HALF PERCENT ON 20 YEAR CDs! COME IN TODAY!**
(almost at that point now)
But there's still the argument (and it's a good one) that NOTHING beats compound interest.
Can't argue that point because ....well, nothing DOES beat compound interest.
EXCEPT....THIS attack on gold has been precipitated by India.....
..............REPUDIATING THEIR CURRENCY........
How's that again? Oh..... telling people their ...MONEY... is no longer any good.
Now... who ya gonna call? Gold or your stash of ...um...cash?? It's no good.
The GOVERNMENT who printed it ...SAYS... it's no good. Nope. Sorry. The money
we printed is NO GOOD. Now STOP avoiding TAXES, you darn citizens, you!
OK back to the infallibility of nothing being better than compound interest.
Certainly the Rothschilds made a pretty good pile off of compound interest.
BOY did they!
But....hey..... in THEIR time, the money they lent out was ...BACKED WITH GOLD!...
Holy SMOKE! WIN WIN WIN!
With no RISK!
(providing prudent collateral pledged)
So.... i guess this ...compound interest....
at measly rates
with a cancellable currency....
might leave a little to be desired.
So whadda I do?
Well, never diminish the CASH (repudiatable) to a point where it would ever
be a critical issue to survival.
Yes, I do know that some people OVEREXTEND into volatile assets, but that's ANOTHER lesson.
**Don't spend yourself down to no CASH! EVER! **
The CASH might be tweaked, but if they do that then ..OF COURSE.. get the hell away from it.
So....gold is on it's ass today. Put there by sellers of ..NO gold. Wha??? heh
Banksters will continue "selling" to make up for the "no business" they will
REALLY be facing when the rates ...KILL OFF HOUSING!
How about buying some gold MINER companies?
Well, how long are they gonna mine something that is being taken down down down?
Does having ACTUAL metal mean anything?
Probably more than any promises, contracts, customers, or ...CURRENCY.
Which brings up the FINAL ploy.
Make gold ILLEGAL! Aiyeee!
Oh NO! Contraband GOLD!
Now THAT could be scary. Just like Al Capone got so scared and didn't know what to do
when they made.....BOOZE.... illegal.
Gosh, I'd hate to have to start a gold MAFIA!
Okay... done.... guess I won't CAPITULATE....today.
Comments
Woah... what did I just read?
Somebody's too deep into a 3x Bullish PM ETF on full margin!
Loves me some shiny!
Nice use of hyperbole! You're obviously thinking a lot, but using words like destroyed, bleed, massive, whopping, measly, boom, anyone, wildly, puny, any, NOTHING, and other absolutes make it seem a lot more like ranting than rational discourse.
Diversification means home runs are rare, but so are strikeouts, even though both do occur, mostly you're hitting singles and doubles
Liberty: Parent of Science & Industry
Nope...never.
I never subject myself to MASSIVE TOTAL DESTRUCTION AND WHOPPING BLEEDS!
Rational discourse invited.
And....of course.... refute the statements.
Like Baley said diversification is paramount. My losses in physical PM value are being offset by gains elsewhere. And, I still have insurance coverage on those other assets, although currently lower, to boot. When the tables turn the increase in coverage of my PM hedge will compensate for the losses in my diversification. Bet on both teams, and profit by increasing your bets on the current winner.
Recent events are the reason for short term plays only, covered with protective stops, with leveraged ETFs.
"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
Correct. Gold is for the long run. Unless or until actual "investing" is fundamentally justified, all sorts of "insurance" is needed.
Since it isn't actual gold being sold, this is just another tactic to profit from and force some capitulation.
As I said, the lower prices will have to curtail supply from the mines.
Did someone say "dollar bubble?"
"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
I doubt it. I've been looking for a week for whoever is paying $1.035 for dollar bills!
(according to Kitco dollar chart)
I'm willing to sell. No limits. Will borrow to finance, too.
I have a display on the wall behind me that contains 200+ oz. of 1-5 oz. bars and ingots...that silver is worth a lot less than it was a few years ago but I still enjoy looking at it...... so there is that
You've shown us that cabinet before, chumley, and it's an awesome collection! Enjoyable, and there is also, that you can add to it "on sale"
Liberty: Parent of Science & Industry
As long as you "average in" and "average out" and avoid the use of leverage, I think it will be pretty hard to actually lose a lot of purchasing power over the long haul. You can even play an educated guess once in awhile, but the essence of wealth management is to avoid doing something really dumb.
Nice ruminations, by the way.
I knew it would happen.
Sounds like you((OP) are close to capitulating.
Or, having a nervous breakdown.
Not at all. I have more money than I can outlive and more gold than I can lift. And WOULD have more silver than I could even STORE had I not sold when it was higher.
(I am NOT a fan of silver)
That's a brain fart reminder to MYSELF of why I shouldn't care what the Comex does with the "price" of gold. See, every once in a while I ruminate on things to control knee jerk stupidity.
If anything, I would buy more but have NO idea where I'd keep it.
HUNDREDS of ounces here, boss.
Oh, I'm ....beginning.... to like silver again just on spec that Trump ...MIGHT... bring back some industrial usage.
How confident am I on his doing that?
Maybe 10-15%
But I never have had nor ever WILL have anywhere near the investment in silver as in gold.
Maybe I'm Asian.
Dude, you really should start watching football.
Knowledge is the enemy of fear
Looks like there is no way out....
... everything is doomed..... 
Oh well... I will just ride this one out... my gold is safe, my silver is safe.... both worth a tad less.... Cash is good... at least for now.... The sun is shining, but it is five degrees outside.... 71 degrees inside....Now there is an apt analogy.... come in from the cold and count your gold. 
Cheers, RickO
You REALLY know how to hurt a guy!
Fates worse than death shouldn't be allowed on here!
As it drops I'll keep adding to the stack.
My YouTube Channel
Stack of footballs?