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Wake up Goldbugs, Gold Skyrocketed overnight; Who would have thought...
Topic Started: 20 Jun 2014, 06:49 AM (21,989 Views)
Jimbo
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miw
22 Aug 2014, 08:28 PM
Yeah yeah. I guess this is your only hope.

When someone tells me that I am standing on a railtrack with a locomotive hurtling at me, he isn't hoping that I get hit by a train.

He is telling me to get off. He is saving my life.

He doesn't benefit if I get splattered.

There is a train hurtling down the tracks and you just can't see it.
Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be :?: rising.
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miw
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Jimbo
22 Aug 2014, 08:44 PM
When someone tells me that I am standing on a railtrack with a locomotive hurtling at me, he isn't hoping that I get hit by a train.

He is telling me to get off. He is saving my life.

He doesn't benefit if I get splattered.

There is a train hurtling down the tracks and you just can't see it.
So people have been saying since Methuselah was a boy. Usually the best policy is to ignore them, but occasionally shooting them is better.
The truth will set you free. But first, it will piss you off.
--Gloria Steinem
AREPS™
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miw
22 Aug 2014, 09:17 PM
So people have been saying since Methuselah was a boy. Usually the best policy is to ignore them, but occasionally shooting them is better.
We should shoot all the leaders of the western world who cried foul when Charles ponzi had a little dig, but who then adopted his measures tenfold, in order to benefit themselves at the expense of everybody else.

The ponzi starters are long gone or dead, and knew they would be long gone or dead before it surfaced, but knew in the meantime, that they will do very well from it and that the leaders coming along in future will have to deal with it and be the ones to face the problems.

And this is the exact mess of the debt ponzi that has finally caught up with us , and that is the reason the gfc has surfaced in the first place.
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Jimbo
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miw
22 Aug 2014, 09:17 PM
So people have been saying since Methuselah was a boy. Usually the best policy is to ignore them, but occasionally shooting them is better.
Many Jews escaped from Nazi Germany because they could see what was coming. A lot people survived the 1996 Tsunami because they saw the tide going out and headed for higher ground. Many saw neither coming but heeded the warnings of others and survived.

If you are outright dismissive of the risks and the warnings, you are most at risk.
Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be :?: rising.
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miw
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Jimbo
22 Aug 2014, 09:33 PM
Many Jews escaped from Nazi Germany because they could see what was coming. A lot people survived the 1996 Tsunami because they saw the tide going out and headed for higher ground. Many saw neither coming but heeded the warnings of others and survived.

If you are outright dismissive of the risks and the warnings, you are most at risk.
I am not dismissive of the risks. I do my best to manage them and measure them. I've also tried hedging them but that's a mug's game.

I am just dismissive of the doom spruikers and liars out there who make money by scaring people and then selling their own particular snake oil safe haven investment or by selling books entitled "the sky is falling."

If you get out there and do something you will learn how to swim when the tide comes in. If you stand on the sidelines crying like a little bitch about the depth of the water, you will never get anywhere regardless of the outcome. Come the flood you are as dead as everyone else. That's what listening to the doom spruikers will do to you.
The truth will set you free. But first, it will piss you off.
--Gloria Steinem
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Count du Monet
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miw
22 Aug 2014, 07:30 PM
Be that as it may, gold sales in China have cratered the last few months. As have sales of all kinds of bling.

Party officials are afraid to wear a nice watch.
That's not surprising. If the July report from the PBC is true and the printing press has slowed down to half the 11% pa rate that was typical in the past (in essence the devaluation of cash has deceased). Then the demand for investment gold should fall. However if interest rates were also to decrease then that would be a positive for investment gold.
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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Jimbo
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miw
22 Aug 2014, 09:45 PM
I am not dismissive of the risks. I do my best to manage them and measure them. I've also tried hedging them but that's a mug's game.

I am just dismissive of the doom spruikers and liars out there who make money by scaring people and then selling their own particular snake oil safe haven investment or by selling books entitled "the sky is falling."

If you get out there and do something you will learn how to swim when the tide comes in. If you stand on the sidelines crying like a little bitch about the depth of the water, you will never get anywhere regardless of the outcome. Come the flood you are as dead as everyone else. That's what listening to the doom spruikers will do to you.
I am in the middle somewhere between boom and doom. I have made a lot of money by taking risks but I have always been aware of those risks.

Doomsters live in dugouts waiting for the end and boomsters rush in.

I sneak out of my dugout early, grab the goodies and get back before before anyone notices.

But all the while I am aware of the fact that I am only an ant feeding on a sugar lump and that sugar lump has fueled the gestation of even more ants.

One day that sugar lump will be just a single grain but there will be many ants fighting for the last bite.

Meanwhile, I am bearish on Perth property for the first time in 30 years.


Count du Monet
22 Aug 2014, 09:49 PM
Then the demand for investment gold should fall. However if interest rates were also to decrease then that would be a positive for investment gold.
Investment Gold only makes up 19% of the entire Gold market.

Edited by Jimbo, 22 Aug 2014, 10:18 PM.
Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be :?: rising.
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newjez
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Jimbo
22 Aug 2014, 06:29 PM
I have some Pounds and USD in treasuries but the Pounds have shit on me from a great height because I bought them in the UK when the GBP/AUD was $2.42 (I bought them in the UK for their coupon). The USD securities will come good though when the AUD gets back below 90 cents.

My best FX trade was moving here in 2007 when the Pound was strong against the AUD. If I went back to the UK today, I could change my AUD back for 200k pounds pure profit. I have heard some Poms in Perth are considering this option.





Roughly 50% of all gold on the planet is in Jewellery. That is where the real demand lies. What may have been considered fair value for an ounce of gold 15 years ago is no longer the case because a lot more people have improved their wealth in the last 15 years.
They will buy neck chains, rings and bangles either solid or plated because that is what many people do when they have money.

Growth in Gold jewellery sales hasn't reversed as Gold has risen in price. The opposite is true.
The new arrivals bring nothing. Those departing take a lot. Many have enough to retire.
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
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Jimbo
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newjez
22 Aug 2014, 10:30 PM
The new arrivals bring nothing. Those departing take a lot. Many have enough to retire.
And that is what points me firmly towards a bear market in Perth.

The exact reverse of what was happening 7 years ago.

Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be :?: rising.
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Poontang
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Gold has reclaimed the $1280+ position, if it is there at the close then damage to gold price I think is minimal.
There are some people who seem angry and continuously look for conflict.
Walk away, the battle they are fighting isn't with you, it's with themselves.

The first lesson of economics is scarcity: There is not enough of anything to satisfy all who want it.
The first lesson of politics is to disregard the first lesson of economics. ~ Thomas Sowell.

Who was the fool, who the wise man, who the beggar or the Emperor? Whether rich or poor, all are equal in death.
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