Not wanting to shoot myself in the foot here, but anyone who knows the Gold market will also know that it does a little tank just before the NFP print.
I have no idea why it does, but it does and that is why I bought my latest batch just before the last NFP print.
If NFP is positive then that may point to a possible jawboning of rate rises which is bad for Gold.
If NFP is bad, that would mean more QE which is great for everybody (unless your name is Long Term US Dollar).
Whatever, I bought Gold to stuff under the floorboards for twenty years or so.
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.
Whatever, I bought Gold to stuff under the floorboards for twenty years or so.
Ah yes, the guy who was previously boasting how much he made buying and selling gold in the past is now claiming he only bought gold to stuff under the floorboards this time as soon as it falls below his purchase price
Its amazing how bears' retrospective investments all made heaps of money but the ones where they announce it at the time of purchase all goes to shit
Ah yes, the guy who was previously boasting how much he made buying and selling gold in the past is now claiming he only bought gold to stuff under the floorboards this time as soon as it falls below his purchase price
Its amazing how bears' retrospective investments all made heaps of money but the ones where they announce it at the time of purchase all goes to shit
Ah yes, the guy who was previously boasting how much he made buying and selling gold in the past is now claiming he only bought gold to stuff under the floorboards this time as soon as it falls below his purchase price
Its amazing how bears' retrospective investments all made heaps of money but the ones where they announce it at the time of purchase all goes to shit
I have always stated my position on Gold. I don't buy Gold to make money. I buy Gold to help protect the money that I already have.
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.
People that have mountains of debt don't own gold jimbo. You need mountains of money to buy gold lol.
Ah yes, the great gold correction is underway. I was discussing this with a friend the other day, looking at the price chart from 2007-2009. I was explaining how gold in these times is just a measure of the currency base in many respects. It's role can change some though, just as the role of houses has changed here to be more an investment product than a home. People still live in them but houses are now more like credit cards in people's mindsets.
Prior to september 2008 money creation in the US had fallen into a hole because the housing bubble had popped and the massive debt binge was over. Money = Debt.
Gold fell from $1200 aussie to around $850 and then the GFC took hold. Straight after though, money printing, QE, went into overdrive and so did the gold price. Gold corrected in 2011, it had overshot, you can see that in the chart, it was a linear growth curve up until the last leg above $1500. Then it went parabolic, and that's unsustainable, so it had to correct. Then it under shot, as markets always do eventually, then it climbed again but money printing was not offsetting money destruction as before so it retracted again.
Gold just keeps pace with inflation. That's why it's such a great hedge. The fact that it's falling again, has been for a month or so now, warns me that we are nearing the cusp of another big market collapse. This will be the last one probably, then everything will go down together. Oil, houses, everything.
I'm not so sure. A lot of contract activity during the week, someone is playing their hand to drive it lower but the move lower is not that great in comparison to the number of contracts.
Someone else is fighting back.
Friday 19th's close I am going to be watching closely...
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.
People that have mountains of debt don't own gold jimbo. You need mountains of money to buy gold lol.
Ah yes, the great gold correction is underway. I was discussing this with a friend the other day, looking at the price chart from 2007-2009. I was explaining how gold in these times is just a measure of the currency base in many respects. It's role can change some though, just as the role of houses has changed here to be more an investment product than a home. People still live in them but houses are now more like credit cards in people's mindsets.
Prior to september 2008 money creation in the US had fallen into a hole because the housing bubble had popped and the massive debt binge was over. Money = Debt.
Gold fell from $1200 aussie to around $850 and then the GFC took hold. Straight after though, money printing, QE, went into overdrive and so did the gold price. Gold corrected in 2011, it had overshot, you can see that in the chart, it was a linear growth curve up until the last leg above $1500. Then it went parabolic, and that's unsustainable, so it had to correct. Then it under shot, as markets always do eventually, then it climbed again but money printing was not offsetting money destruction as before so it retracted again.
Gold just keeps pace with inflation. That's why it's such a great hedge. The fact that it's falling again, has been for a month or so now, warns me that we are nearing the cusp of another big market collapse. This will be the last one probably, then everything will go down together. Oil, houses, everything.
Why does your chart stop in early/mid 2012??? If you continue the chart, the price is currently way below those "critical support levels", and has been for some time....
Hahahha at the e-penis waving to validate your worth.
$400k ... really? That's not even enough to buy a average house in Sydney.. I'm not going to be so tacky as to post a screenshot of my bank account but seriously, did you really expect a property investor with multiple properties in Sydney to be impressed by a $400k bank balance? With the way the Sydney market has been performing over the last couple of years? Even a beginner property investor with only their own home and 1 investment property should have made at least that much in the last 2 years.
Absolute gold.
I put trolls and time wasters on my ignore list so if I don't respond to you, you are probably on it ....
Hahahha at the e-penis waving to validate your worth.
$400k ... really? That's not even enough to buy a average house in Sydney.. I'm not going to be so tacky as to post a screenshot of my bank account but seriously, did you really expect a property investor with multiple properties in Sydney to be impressed by a $400k bank balance? With the way the Sydney market has been performing over the last couple of years? Even a beginner property investor with only their own home and 1 investment property should have made at least that much in the last 2 years.
Absolute gold.
That's just my cash holding (spare change if you like).
I have a few bob tucked away in far more productive assets than Perth property. Gold is just one thing that I happen to own.
It pisses me off when dickheads like you, leveraged the hilt with an assumed net worth take the piss out of people who actually have some real money.
You won't post a screenshot of your real liquid capital because you haven't got any.
In fairness, I shouldn't have risen to your jibes.
You are a bitter nobody. Why should I give a shit.
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.
Today there is $1,294,073 million FRN in circulation.
Exactly 6 years ago during during the GFC there was $836,836 million in circulation.
So the FED has increased the currency supply by 50% since the GFC.
So the supply of currency has increased by 7.6% per annum since the GFC.
The critical factor is the supply of currency per capita. Let's say the USA population has increased by 1% per annum since the GFC.
So the monetary inflation rate has been 7.6% minus 1% = 6.6% since the GFC.
This won't be seen in common spending and common wages because the FED and Wall street are dedicated to making sure the rich get richer and the poor remain poorer.
In the case of goods were supply and demand remain constant then we should see an increase in line with monetary inflation.
Gold was $857, 6 years ago. today $1286.
So gold price has increased 6.6% per annum since 2008............exactly the some rate as monetary inflation!!!!
See how clever Wulfie is, gold is the true inflation indicator!!! Gold screams the truth while the FED says "move on, pay no attention to the man behind the curtain".
Since the GFC gold has acted perfectly as money which is pure terror for the FED. The American banks pay virtually no interest so the best way to save money in the USA is to keep gold ingots in a tin at home!
So to know how prices have been going, simply price every thing in gold.
Gold is the true money, the green confetti is the lie!
The America government inflation stats are a lie! For example they don't take into account "productivity increase" such as the flood of Chinese goods to Walmart.
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!!!
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