Exactly. Those dips in gold are all short lived. All attempts to bolster the dollar, sell gold short, and beat down the prices by $15 at the close of business are failing time after time. Yesterday's fake "beat down" into the $780's didn't fool anyone. Just allowed buyers to stock up cheaper. Gold is going to close above $800 very soon. Friday's have been good days to close higher. Gold has more running to do before this leg is finished.
Gold at $806 means it went up 2% today. That is very good news. The stock I purchased yesterday also went up today......13%. Smith & Wesson, gold and guns took off today. I am in heaven with the one day result.
and early this morning, before trading the surge to above $800 I put in another order with the Mint... I got my confirmation... but the Mint's confirmation email said they could "cancel" if they have problems filling the order. Hmm???
Silver doesn't enjoy the exemption from the European Unions dreaded VAT (minimum 15%) like gold does. Silver is a New World precious metal which has a large collector/speculator base here, but few, if any, takers in Europe. With the new EU taxing silver bullion, the gold/silver ratio is increasing beyond traditional values....and there is no solution in sight to make it perform in sych with rising gold prices anymore.
But look at the bright side...our dollar is now at 93¢ Canadian - well maybe that's not the bright side. We report 2% inflation, but our dollar is losing double digits/year against foreign currencies. I feel so much better knowing that voo-doo economics is running rampant in Washington.
<< <i>Silver doesn't enjoy the exemption from the European Unions dreaded VAT (minimum 15%) like gold does. Silver is a New World precious metal which has a large collector/speculator base here, but few, if any, takers in Europe. With the new EU taxing silver bullion, the gold/silver ratio is increasing beyond traditional values....and there is no solution in sight to make it perform in sych with rising gold prices anymore. >>
What do you mean Silver is "New World", it's been used as currency since the time of Jesus. The ETF's will have more than a little impact on silver as this ratio get's out of hand. Look at the last time gold was $800 silver was twice as high as it is now.
While silver's better than a dollar, the liquidity just isn't there. Europe will change its attitude once ALL currencies begin the implosion. And Europe is very familiar with "mattress money." At least they should be unless they've adopted the American attitude that geezers are worthless and history is moot.
But silver is also dependent more on industrial than monetary use. And on THIS go-round, there ain't much hope for an industrial recovery with credit being crushed.
In short, Johnny and Janey ain't gonna be buying much with no home equity loan beckoning.
There's little hope for a US industrial second coming in the near future...manufacturing has lost 275,000 jobs since the middle of 2006. Many of the new jobs being touted are in the service sector, which traditionally offers lower wages and little in the way of benefits for employees.
<< <i>Wow, 804.20 right now. A close like that in NY on a Friday is going to make for a big story over the weekend. Maybe silver can pop up over 14.50 too? >>
going higher as we speak - just wait until the general public gets a whiff of the goldrush - IMO, I dont think the GP knows about about gold and once they find out - LOOK OUT!! me - Im holding for $1000/oz in the very near future - GO GOLD!!
currently putting together a EF/AU/BU 18th & 19th Century Type Set; and CC Morgan Set
just completed 3d tour to Iraq and retired after 28+ years in the US Army
<< <i>I'd hate to be thinking of STARTING a stash right now, but it will still beat what is about to happen to our sinking buck.
More useless and too late rate cuts coming.
The Fed boxed itself in on this one.
Ah, our spendthrift ways will now bear fruit.
Game, set, match for the sunset of America. >>
Headin to France with Alec Baldwin?
Louis L'Amour used to has a phrase he used a lot in his books for characters to compliment others who were hardy, faithful, who would be there when the goin gets tough. It was "He'll do to ride the river with..."
He wouldn't have used it in your case
Quis custodiet ipsos custodes?
Apropos of the coin posse/aka caca: "The longer he spoke of his honor, the tighter I held to my purse."
Skills are the key to survival. There are still way too many people, in the rust belt particularly, who think you can just be some poluka body thrown into a manufacturing job by joining the union and have a secure future. That doesn't work anymore. I watched guys drop out of school back in PA as soon as they could join the union and get a job in the steel mill making more than an entry level college grad in many fields. The unions are going to bleed with pension woes and the jobs aren't there if the mills close. No golden parachutes. That "watching your back" nonsense is going to sour to patronizing rhetoric. If you are >40 out of work, you better have skills that cannot be matched by a kid willing to work cheaper and harder. This is also going to come to IT. A lot of people who jumped into that gold rush learning as they go are going to be soon enough facing kids entering the workforce who have been breathing technology and computers practically from birth. In other words, those who don't have jobs that are careers and who don't keep current with the bleeding edge are in serious jeopardy of losing their standard of living with little recourse.
<< <i>While silver's better than a dollar, the liquidity just isn't there. Europe will change its attitude once ALL currencies begin the implosion. And Europe is very familiar with "mattress money." At least they should be unless they've adopted the American attitude that geezers are worthless and history is moot.
But silver is also dependent more on industrial than monetary use. And on THIS go-round, there ain't much hope for an industrial recovery with credit being crushed.
In short, Johnny and Janey ain't gonna be buying much with no home equity loan beckoning. >>
went to my local coin club meeting last night and the dealers who were present said they see a downturn in business - local coin show last week had fewer people and sales - I believe people are starting to conserve their discretionary money and holding on just to pay for gas and food - sad state of affairs caused by money hungry Wall Street and the sub-prime mess - nothing will bail out the dollar now - I see some tough times ahead for this economy - the perfect storm in the financial world has just begun to brew
currently putting together a EF/AU/BU 18th & 19th Century Type Set; and CC Morgan Set
just completed 3d tour to Iraq and retired after 28+ years in the US Army
There's something fishy about a 15% plus VAT on Silver Bullion and related coins in the European Union.
As fastrudy said, little if any interest in Silver Bullion in Europe. The VAT tax has effectively removed the entire citizenry of Europe out of play for silver. Which has effectively kept money being collected from the VAT. Where's the win? I only see 2 losses.
A government entity setting up a tax that appears self defeating in collecting any sizable revenue from is a novelty!
Jerry, Yes it does seem like a strange rule. Every country wanting to join the EU must have a similar VAT tax in place before they will be accepted. I can only think that the people who initiated that law had vast holdings in gold, or made money from trading it. It's the Golden Rule. Them's that own the gold, make the rule.
Yes, let's all be patriotic and turn all our gold into the treasury at $42/ounce. This way the PPT can try to hammer gold down further in the near future. Hence we will be supporting the dollar, Louis L'Amour, and the standard of debt to which we are now all accustomed.
AU58WALKERS
Posts: 3,562 ✭
Comments
I knew it would happen.
PCGS Registries
Box of 20
SeaEagleCoins: 11/14/54-4/5/12. Miss you Larry!
Keith
just completed 3d tour to Iraq and retired after 28+ years in the US Army
PCGS Registries
Box of 20
SeaEagleCoins: 11/14/54-4/5/12. Miss you Larry!
At $831 per One ounce Coin, It will soon be a steal!
Exactly. Those dips in gold are all short lived.
All attempts to bolster the dollar, sell gold short, and beat down the prices by $15 at the close of business are failing time after time.
Yesterday's fake "beat down" into the $780's didn't fool anyone. Just allowed buyers to stock up cheaper. Gold is going to close above $800 very soon. Friday's have been good days to close higher. Gold has more running to do before this leg is finished.
roadrunner
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
NSDR - Life Member
SSDC - Life Member
ANA - Pay As I Go Member
Ankur
PCGS Registries
Box of 20
SeaEagleCoins: 11/14/54-4/5/12. Miss you Larry!
NSDR - Life Member
SSDC - Life Member
ANA - Pay As I Go Member
<< <i>the gravy train is leaving the terminal - get on quick before you miss it!! GO GOLD!!!!!
The Gravy Train with Biscuit Wheels!!!
Knowledge is the enemy of fear
NSDR - Life Member
SSDC - Life Member
ANA - Pay As I Go Member
More useless and too late rate cuts coming.
The Fed boxed itself in on this one.
Ah, our spendthrift ways will now bear fruit.
Game, set, match for the sunset of America.
That is very good news.
The stock I purchased yesterday also went up today......13%.
Smith & Wesson, gold and guns took off today.
I am in heaven with the one day result.
Proud recipient of two "You Suck" awards
Half Ounce; $22 over melt
Quarter Ounce: $19 over melt *best deal right now
Tenth Ounce: $20 over melt.
Hm....what does everyone think?
Ankur
PCGS Registries
Box of 20
SeaEagleCoins: 11/14/54-4/5/12. Miss you Larry!
recommendation in my website on October 27th
and early this morning, before trading the surge to above $800 I put in another order with the Mint... I got my confirmation... but the Mint's confirmation email said they could "cancel" if they have problems filling the order. Hmm???
Makes me wonder if I will get this deal???
cheers, Alan Mendelson
www.BestDealsTVshow.com
www.AlanBestBuys.com
www.VegasBestBuys.com
Proud recipient of two "You Suck" awards
<< <i>Silver doesn't enjoy the exemption from the European Unions dreaded VAT (minimum 15%) like gold does. Silver is a New World precious metal which has a large collector/speculator base here, but few, if any, takers in Europe. With the new EU taxing silver bullion, the gold/silver ratio is increasing beyond traditional values....and there is no solution in sight to make it perform in sych with rising gold prices anymore. >>
What do you mean Silver is "New World", it's been used as currency since the time of Jesus. The ETF's will have more than a little impact on silver as this ratio get's out of hand. Look at the last time gold was $800 silver was twice as high as it is now.
And Europe is very familiar with "mattress money." At least they should be unless they've adopted the American attitude that geezers are worthless and history is moot.
But silver is also dependent more on industrial than monetary use. And on THIS go-round, there ain't much hope for an industrial recovery with credit being crushed.
In short, Johnny and Janey ain't gonna be buying much with no home equity loan beckoning.
<< <i>Wow, 804.20 right now. A close like that in NY on a Friday is going to make for a big story over the weekend. Maybe silver can pop up over 14.50 too? >>
going higher as we speak - just wait until the general public gets a whiff of the goldrush - IMO, I dont think the GP knows about about gold and once they find out - LOOK OUT!! me - Im holding for $1000/oz in the very near future - GO GOLD!!
just completed 3d tour to Iraq and retired after 28+ years in the US Army
<< <i>I'd hate to be thinking of STARTING a stash right now, but it will still beat what is about to happen to our sinking buck.
More useless and too late rate cuts coming.
The Fed boxed itself in on this one.
Ah, our spendthrift ways will now bear fruit.
Game, set, match for the sunset of America. >>
Headin to France with Alec Baldwin?
Louis L'Amour used to has a phrase he used a lot in his books for characters to compliment others who were hardy, faithful, who would be there when the goin gets tough. It was "He'll do to ride the river with..."
He wouldn't have used it in your case
Apropos of the coin posse/aka caca: "The longer he spoke of his honor, the tighter I held to my purse."
<< <i>Cha-Ching! >>
That is the sound you hear when you Sell
NSDR - Life Member
SSDC - Life Member
ANA - Pay As I Go Member
<< <i>While silver's better than a dollar, the liquidity just isn't there. Europe will change its attitude once ALL currencies begin the implosion.
And Europe is very familiar with "mattress money." At least they should be unless they've adopted the American attitude that geezers are worthless and history is moot.
But silver is also dependent more on industrial than monetary use. And on THIS go-round, there ain't much hope for an industrial recovery with credit being crushed.
In short, Johnny and Janey ain't gonna be buying much with no home equity loan beckoning. >>
went to my local coin club meeting last night and the dealers who were present said they see a downturn in business - local coin show last week had fewer people and sales - I believe people are starting to conserve their discretionary money and holding on just to pay for gas and food - sad state of affairs caused by money hungry Wall Street and the sub-prime mess - nothing will bail out the dollar now - I see some tough times ahead for this economy - the perfect storm in the financial world has just begun to brew
just completed 3d tour to Iraq and retired after 28+ years in the US Army
<< <i>$900 by the Jan 2008!
Keith
Dec Gold closed at 808.10.....don't limit yourself to how high gold is going ..much higher than anyone has dreamed of....
<< <i>Go oil!!! >>
Minimum of 100.00 NEXT week...GOLD XXXX higher
As fastrudy said, little if any interest in Silver Bullion in Europe. The VAT tax has effectively removed the
entire citizenry of Europe out of play for silver. Which has effectively kept money being collected from the
VAT. Where's the win? I only see 2 losses.
A government entity setting up a tax that appears self defeating in collecting any sizable revenue from
is a novelty!
Jerry
Yes it does seem like a strange rule. Every country wanting to join the EU must have a similar VAT tax in place before they will be accepted. I can only think that the people who initiated that law had vast holdings in gold, or made money from trading it. It's the Golden Rule. Them's that own the gold, make the rule.
Edited for this link
Proud recipient of two "You Suck" awards
near future. Hence we will be supporting the dollar, Louis L'Amour, and the standard of debt to which we are now all accustomed.
$900 gold or 15,000 Dow? Which comes first?
roadrunner
roadrunner >>
Gold
<< <i>Yes, let's all be patriotic and turn all our gold into the treasury at $42/ounce.
roadrunner >>
Yes yes comrade, for the common good
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
Yeahhhhhhhhhhhhh Go oil. I don't pay enough for gas now, only $350 a month to comute to work.
I would really like to double that amount.
Only $3 a gallon for heating fuel, yeahhhhhhhh go oil.
You'll have to sell your gold to buy milk at $8 a gallon.
<< <i>[$900 gold or 15,000 Dow? Which comes first?
roadrunner >>
Gold >>
You all got it mixed gold at 900.00 .....the Dow maybe 11,000
If the dollar drops more, earnings for muti-nationals will be way up in terms of dollars.
San Diego, CA