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Gold buyers are getting a Margin Call
Topic Started: 19 Dec 2013, 09:10 PM (3,820 Views)
peter fraser
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Down to $1203.50


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Edited by peter fraser, 19 Dec 2013, 09:12 PM.
Any expressed market opinion is my own and is not to be taken as financial advice
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K-town
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Just a shout out to FrankRider from an 'unsophisticated' investor. How are you doing you whacky little goldbug?
Still riding the hayabusa and hating the old cheese? That's the way, champ. Or are they both gone now?
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Count du Monet
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We at $900 yet?
The next trick of our glorious banks will be to charge us a fee for using net bank!!!
You are no longer customer, you are property!!!

Don't be SAUCY with me Bernaisse
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peter fraser
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Count du Monet
19 Dec 2013, 09:41 PM
We at $900 yet?
Nope but they ring a bell at $900 so you will know.
Any expressed market opinion is my own and is not to be taken as financial advice
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goldbug
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Many paper gold buyers will be getting their calls but I'm sure the Chinese and Indians are loading up on the real stuff again. They must own half the physical gold in the world by now. For all of recorded history gold has been prized as an asset, yet a mere 40 years of paper printing has convinced the people of western nations to abandon it as a safe haven hedge.

If the past 40 years of growth had been based on true productivity and not massive compounding debts I could understand people's rejection of gold. But we are right back where we were in 1930, a vast over-production of luxury goods and services and massive unpayable debts.

I'll stick with gold for now thanks. It costs me nothing to hold and is still worth more than the equivalent of shares or property in QLD I could have bought instead.
Shadow was hopelessly wrong about the Gold Bull Market.
What else is he wrong about?
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peter fraser
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goldbug
20 Dec 2013, 06:25 AM
Many paper gold buyers will be getting their calls but I'm sure the Chinese and Indians are loading up on the real stuff again. They must own half the physical gold in the world by now. For all of recorded history gold has been prized as an asset, yet a mere 40 years of paper printing has convinced the people of western nations to abandon it as a safe haven hedge.

If the past 40 years of growth had been based on true productivity and not massive compounding debts I could understand people's rejection of gold. But we are right back where we were in 1930, a vast over-production of luxury goods and services and massive unpayable debts.

I'll stick with gold for now thanks. It costs me nothing to hold and is still worth more than the equivalent of shares or property in QLD I could have bought instead.
Yep the Chinese and Indian buyers won't get their margin call but plenty of ETF buyers will be starting to get concerned.

BTW gold is still tanking - down to $1189 now.

If you bought at $1800 that would be like losing the lounge, the family room and the kitchen from your house.
Any expressed market opinion is my own and is not to be taken as financial advice
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Shadow
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Evil Mouzealot Specufestor

peter fraser
20 Dec 2013, 08:26 AM
BTW gold is still tanking - down to $1189 now.
But FrankRider/Goldbug told me we were in a new bull run? :?:

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1. Epic Fail! Steve Keen's Bad Calls and Predictions.
2. Residential property loans regulated by NCCP Act. Banks can't margin call unless borrower defaults.
3. Housing is second highest taxed sector of Australian Economy. Renters subsidised by highly taxed homeowners.
4. Ongoing improvement in housing affordability. Australian household formation faster than population growth since 1960s.
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mel
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Shadow
20 Dec 2013, 09:34 AM
But FrankRider/Goldbug told me we were in a new bull run? :?:
He just doesn't get it, Shadow. He keeps banging on about gold being liquid but refuses to sell at highs to buy back at a lower price. I don't think he knows what he is doing.
APF - a place where serious people don't take themselves too seriously. There's nothing else like it.
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peter fraser
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Shadow
20 Dec 2013, 09:34 AM
But FrankRider/Goldbug told me we were in a new bull run? :?:

You have to appreciate that Frank Rider has a bull that runs backwards, a bit like Italian tanks during WW2.

Gold is down $31 overnight - now $1187
Any expressed market opinion is my own and is not to be taken as financial advice
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Foxy
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Zero is coming...

peter fraser
19 Dec 2013, 09:10 PM
Down to $1203.50


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But if they like gold and have paid for it does it really matter???
Peter
Who would buy gold if it went to $500.00 per fine ounce??
Peter
Edited by Foxy, 20 Dec 2013, 10:15 AM.
http://www.afr.com/content/dam/images/g/n/2/1/u/8/image.imgtype.afrArticleInline.620x0.png/1456285515560.png
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