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Gold Smash Leads to Surge in Demand For Coins, Bars Around World; Another buying window. Property investors need not apply
Topic Started: 24 Jul 2015, 11:56 AM (13,582 Views)
Trojan
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b_b
20 Aug 2015, 11:30 AM
3. "Gold is a way of going long on fear, and it has been a pretty good way of going long on fear from time to time. But you really have to hope people become more afraid in a year or two years than they are now. And if they become more afraid you make money, if they become less afraid you lose money, but the gold itself doesn't produce anything."
This pretty much explains why every thread here by goldbugs is about doom and gloom ... businesses closing, unemployment skyrocketing, looming banking crisis, etc
Its all about trying to create more fear for personal gain.
I put trolls and time wasters on my ignore list so if I don't respond to you, you are probably on it ....
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b_b
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Trojan
21 Aug 2015, 11:13 AM
This pretty much explains why every thread here by goldbugs is about doom and gloom ... businesses closing, unemployment skyrocketing, looming banking crisis, etc
Its all about trying to create more fear for personal gain.
No - I do not think they try to create fear.

I think they live in fear. Their fear is genuine but misguided. It is a personality disorder.

It must be a terrible way to live. Sad.
Edited by b_b, 21 Aug 2015, 11:42 AM.
(S – I) + (T - G) + (M - X) = 0
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Shadow
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b_b
21 Aug 2015, 11:41 AM
No - I do not think they try to create fear.

I think they live in fear. Their fear is genuine but misguided. It is a personality disorder.

It must be a terrible way to live. Sad.
Agreed - if you look at somebody like Crazy Ted, he is genuinely terrified. To have sold his home in 2012 indicates real panic. Also the way he exaggerates bad news... for example when employment falls from 96% to 94%, he says the unemployment rate has 'increased by 50%', or if one out of the five main data providers shows rents falling over one month, he is totally convinced that rents are 'collapsing everywhere' (even though it's just one month, and the other four data providers show rents mostly rising). It is definitely some sort of illness.

As for gold... well, it's highly volatile and has been bouncing up and down around this level for a while, after collapsing from $1810 in 2011. The falling Aussie dollar is the only thing keeping some goldbugs above water right now.
Edited by Shadow, 21 Aug 2015, 12:02 PM.
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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zaph
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Quote:
 
Gold gets dug out of the ground in Africa, or someplace.


Let them eat cake/gold.
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Jimbo
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b_b
21 Aug 2015, 11:41 AM
I think they live in fear. Their fear is genuine but misguided. It is a personality disorder.

It must be a terrible way to live. Sad.
I am not in fear.

I have a big wedge of cash, a fair bit of Gold and zero debt.

Why would I be afraid?
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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Rastus2
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Shadow
21 Aug 2015, 12:01 PM
The falling Aussie dollar is the only thing keeping some goldbugs above water right now.

I can only assume you do not realise that this is not simply luck... it's part of the appeal of Gold for some people... It can act as a hedge against AUD:USD swings.

The historical relationship between AUD:USD and Gold (in USD) is well documented.

Posted Image


Gold has a positive correlation with AUD/USD.
When gold goes up, AUD/USD goes up. When gold goes down, AUD/USD goes down.
Historically, AUD/USD has had a whopping 80% correlation to the price of gold



Shadow - Defrauded his Bank ? 2015 I have 9 different loans and my bank had no idea which ones were personal and which were investment. They had half of them classed incorrectly. When this change came in they asked me to tell them if any personal loans were incorrectly classed as investment, which I did, and they switched them to personal for the lower rate. They also had a couple of investment loans incorrectly classed as personal. They didn't ask me about those. So they stay on the lower rate too. Worked out pretty well. :)
Shadow - 2008 Sydney Median House Price 1.25M by 2014-2015

Shadow : I think this boom has already begun in several cities. My prediction :
Peak of boom: 2014-2015. Sydney Median Price: $1,250,000 Bottom of bust: 2017-2018. Sydney Median Price: $1,100,000

Shadow's Original 2010 House Boom and Crash prediction http://s836.photobucket.com/user/rastus22/media/shady-orig-2010-chart.png.html?sort=3&o=0

Shadow's attempt to edit his 2010 chart in 2015 and replace it with one that does not show a crash in 2013 http://s836.photobucket.com/user/rastus22/media/Screen%20Shot%202015-06-06%20at%207.12.52%20pm_1.png.html
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The Whole Truth
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Gold Coin Sales Surge 306% YoY In August, Silver Sales More Than Doubled – U.S. Mint

According to the latest data on the mint’s website, sales of the American Eagle Bullion gold coin amounted to 101,500 ounces last month, down 40% from the 170,000 ounces sold in July. However, year-over-year, coin sales rose 306% when compared to the 25,000 ounces sold in August 2014.
American Eagle Bullion gold
The 24k American Buffalo Bullion gold coin experienced sales of 20,000 ounces in August, down compared to 32,000 ounces sold last month but considerably up from 8,000 ounces sold in the same month last year.
http://www.gold-eagle.com/gold-coin-sales-surge-306-yoy-august-silver-sales-more-doubled-%E2%80%93-us-mint
"Panics do not destroy capital; they merely reveal the extent to which it has been previously destroyed by its betrayal into hopelessly unproductive works." John Stuart Mill
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The Whole Truth
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The MIsguided Paperati and Bifurcated Markets

"In good times people are relaxed, trusting, and money is plentiful. But even though money is plentiful, there are always many people who need more. Under these circumstances the rate of embezzlement grows, the rate of discovery falls off, and the bezzle increases rapidly.

In a depression all this is reversed. Money is watched with a narrow, suspicious eye. The man who handles it is assumed to be dishonest until he proves himself otherwise. Audits are penetrating and meticulous. Commercial morality is enormously improved."

John Kenneth Galbraith


The gold market in particular seems to have bifurcated, or split into two: one market for largely paper speculation and high leverage, and another for the purchase and distribution of actual physical bullion.

Is this a problem?

Yes it is. Because the attitude towards gold among the status quo in the West has become rigidly dogmatic, supported by years of lazy thinking and a determined campaign of ridicule and propaganda to try and extend the unsustainable.

You can see it emerge every so often in sites and media outlets and analysts who can be considered as creatures of the establishment, to use an older phrase, for whatever reason they may have. Some of the economist manservants of the ruling class talk about gold with the same sneering manner that a Victorian aristocrat might have discussed the 'rights' of the peoples of India or of China.

And I do not necessarily think they are bad motives, in the dishonest sense at least. Some may actually believe what they say, although for the most part I don't think that the fortunate care what is good or what is true, if it serves their own special interests. This is how they have been taught to be, how life is.

If you have been brought up, bred, and bombarded with certain points of view for most of your life, it is no surprise that you may reflexively tend to adhere to and promote those views without regard to any intervening facts, past or present. You have been programmed by your education and, dare I say it, class. I see it all the time.

And it can sometimes lead to odd divergences in reasoning. This is why certain Founding Fathers found it perfectly acceptable to declare that 'all men are created equal' and also own slaves. Or to seek to curtail the rights of the non-landed and women in terms of ruling and voting. They are running on what they knew, without proper and rigorous examination.

It is hard for someone who has come from outside that system to understand how they can rationalize such a glaring discrepancy. But if you put yourself in their place, and honestly examine some of your own habitual thinking, it is not so hard.

Hypocrisy, maybe. And maybe it is just the unexamined prejudices of the fortunate. Sometimes even what seems to be an obvious truth can only be seen clearly through tears. And we have quite a surplus of the exceptionally fortunate these days, who have been pampered and privileged by an order which care very well for them, but that seems to be passing.

A big change is what we are heading for. We have a financial system that still holds a vast amount of gold in the central banks, including the US and Europe according to their reports at least. And more importantly, it is on a mad increase in the East with the central banks and the people buying in ever increasing amounts. Those who serve the power circles of New York, Washington, and London do not want to hear about it, anymore than Winston Churchill had a regard for the thoughts of Mr. Gandhi.
And despite the huge change in the global supply and demand for bullion, we have a holdover, a significant price discovery mechanism in New York and London that is increasingly diverging from the physical realities of supply and demand.

There is going to be a reconciliation of attitudes and realities at some point. And it may be quite impressive. The longer that the status quo and their courtiers try to maintain their modern aristocracy, like vast tectonic plates unable to move but building greater and greater pressure, the more dramatic that change may be when it finally comes.

And alas, so many of our politicians are servants, although well paid and well taken, of the moneyed interests. So they will do nothing that would perturb their true lords and masters, if they wish to also become fabulously rich and rise within the existing system.

The thought of the harm that this careless disregard for justice and right reason is doing to a very large group of relative bystanders and innocents, whose proper role is to be protected by those who have been gifted with greater talents accompanied by oaths of office, is almost disheartening.

Speaking of the pampered paperati, the FOMC will be giving us their pronouncement on interest rates tomorrow afternoon. It will most likely be an exercise in cognitive dissonance, no matter what they do.

Have a pleasant evening.

"Panics do not destroy capital; they merely reveal the extent to which it has been previously destroyed by its betrayal into hopelessly unproductive works." John Stuart Mill
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createdby
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Warehouses are running out of physical gold. Those who've missed out should consider silver, platinum, and palladium. Silver especially has a lot of upside.

I have to admit, can't beat the shine and allure of the yellow metal though.
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The Whole Truth
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It's a perfect way to save money without counterparty risk cb. The fact is money in the bank is no longer safe, the bank bail-in legislation popping up in western nations testifies to this. Even the deposit guarantee created by rudd fell short of protecting large sums and we have moved a lot further down the rabbit hole since then.

Idiots like fwank (who claims to have 100k in fun tickets (Moron) ) don't seem to realize that money isn't theirs anymore. It's been legally lent to the bank and the bank is under no obligation to repay it if they go into a bankruptsy state. The debt junkies all trust the banks, they never question the hand that feeds them.
"Panics do not destroy capital; they merely reveal the extent to which it has been previously destroyed by its betrayal into hopelessly unproductive works." John Stuart Mill
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