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Gold price dives through support to new low. Gold Bubble continues to deflate.; Gold price to drop another 15% this year say strategists at Societe Generale
Topic Started: 3 Apr 2013, 10:29 AM (37,685 Views)
Pig Iron
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Bogan scum

you rode silver down 34%, and call me an idiot?

gold is down to $1358/AUD. it's got the aerodynamics of a brick right now. it'll break through $1200/oz by the end of the week if this keeps up.
Edited by Pig Iron, 15 Apr 2013, 07:57 PM.
I am the love child of Tony Abbott and Pauline Hanson
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b_b
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timmy
15 Apr 2013, 07:50 PM
you rode silver down 34%, and call me an idiot?

gold is down to $1358/AUD. it's got the aerodynamics of a brick right now. it'll break through $1200/oz by the end of the week if this keeps up.
Gold just broke below US$1400...Silver US$23.20....

Edited by b_b, 15 Apr 2013, 09:32 PM.
(S – I) + (T - G) + (M - X) = 0
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Pig Iron
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Bogan scum

b_b
15 Apr 2013, 09:29 PM
Gold just broke below US$1400...Silver US$23.20....
shit just got real.
I am the love child of Tony Abbott and Pauline Hanson
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b_b
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timmy
15 Apr 2013, 09:43 PM
shit just got real.
It looks like the goldbugs got their hyperinflation forecast right. The only problem is consumer prices are hyperinflating relative to gold.
(S – I) + (T - G) + (M - X) = 0
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Enjoy The Ride
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Amusing, the amount of hysteria involved around the Gold price.

The only problem most of the pundits here don't realise what these falls are saying.

A slew of poor economic data, coupled with the new bail-in template for dealing with bank insolvency, has the markets back to pricing either one of two outcomes.

firstly Deflation takes hold or

real interest rates move strongly positive.

The fact that under either of these scenarios property bulls get slaughtered, is a point that seems to be missed.

The garden variety goldbug, with cash, gold, silver and low or no debt. Is still strongly positioned for this outcome.

As for me I will be buying a couple of mint sealed 600oz boxes of 2013 silver pandas if they hit 12k.
Enjoy The Ride!

The case for individual freedom rests chiefly on the recognition of the inevitable and universal ignorance of all of us concerning a great many of the factors on which the achievement of our ends and welfare depend. It is because every individual knows so little and, in particular, because we rarely know which of us knows best that we trust the independent and competitive efforts of many to induce the emergence of what we shall want when we see it. Humiliating to human pride as it may be, we must recognize that the advance and even the preservation of civilization are dependent upon a maximum of opportunity for accidents to happen.”
― Friedrich A. von Hayek


"I, on the other hand, am a fully rounded human being with a degree from the university of life, a diploma from the school of hard knocks, and three gold stars from the kindergarten of getting the shit kicked out of me." Blackadder.


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stinkbug
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b_b
15 Apr 2013, 09:29 PM
timmy
15 Apr 2013, 07:50 PM
you rode silver down 34%, and call me an idiot?

gold is down to $1358/AUD. it's got the aerodynamics of a brick right now. it'll break through $1200/oz by the end of the week if this keeps up.
Gold just broke below US$1400...Silver US$23.20....

Ouch.
---------------------------------------------------------------

While it's true that those who win never quit, and those who quit never win, those who never win and never quit are idiots.

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Shadow
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Evil Mouzealot Specufestor

Enjoy The Ride
15 Apr 2013, 10:19 PM
The only problem most of the pundits here don't realise what these falls are saying.

The fact that under either of these scenarios property bulls get slaughtered, is a point that seems to be missed.
Right, so when the gold price was rising the goldbugs said this was a sign of an impending economic collapse that would slaughter property.

Now that the gold price is falling, that also means slaughter for property.

But it's funny the way property never actually does get slaughtered, despite the hopes and dreams of the property bears.

House prices just continue their slow march upwards, with the occasional minor correction every few years - just part of the cycle.

Meanwhile gold and shares are up and down like a yo-yo.

But I'm sure the property slaughter must be coming up soon... only a matter of time? The great 'Ponzi scheme' won't be able to 'defy gravity' indefinitely, right... :re:
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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Enjoy The Ride
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Shadow-commodity prices are tanking. China data missing on retail sales, GDP, and industrial production last week. Coupled with the US miss on retail sales.

Add unemployment on the uptick here is bullish property, because Stevens will cut again, although were getting close to that mathematical problem of Zero.

Or the commodity boom including PM's will continue and the asiatic growth will fuel house price growth.

Which scenario do you subscribe?



Enjoy The Ride!

The case for individual freedom rests chiefly on the recognition of the inevitable and universal ignorance of all of us concerning a great many of the factors on which the achievement of our ends and welfare depend. It is because every individual knows so little and, in particular, because we rarely know which of us knows best that we trust the independent and competitive efforts of many to induce the emergence of what we shall want when we see it. Humiliating to human pride as it may be, we must recognize that the advance and even the preservation of civilization are dependent upon a maximum of opportunity for accidents to happen.”
― Friedrich A. von Hayek


"I, on the other hand, am a fully rounded human being with a degree from the university of life, a diploma from the school of hard knocks, and three gold stars from the kindergarten of getting the shit kicked out of me." Blackadder.


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b_b
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Enjoy The Ride
15 Apr 2013, 10:19 PM
Amusing, the amount of hysteria involved around the Gold price.

The only problem most of the pundits here don't realise what these falls are saying.

A slew of poor economic data, coupled with the new bail-in template for dealing with bank insolvency, has the markets back to pricing either one of two outcomes.

firstly Deflation takes hold or

real interest rates move strongly positive.

The fact that under either of these scenarios property bulls get slaughtered, is a point that seems to be missed.

The garden variety goldbug, with cash, gold, silver and low or no debt. Is still strongly positioned for this outcome.

As for me I will be buying a couple of mint sealed 600oz boxes of 2013 silver pandas if they hit 12k.
No - the fall in gold is suggesting the hyperinflation expectations of the nut jobs (schiff, faber etc) are proving to be wrong. Hyperinflation was very unlikely because central banks were not "money printing" in terms of broad money - and market participants are finally getting the joke. So the gold price probably reflects the decline of the theories spewed out by the austrians and other lunatics.
(S – I) + (T - G) + (M - X) = 0
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Shadow
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Evil Mouzealot Specufestor

Enjoy The Ride
15 Apr 2013, 10:45 PM
Which scenario do you subscribe?
I subscribe to the view that house prices will just keep on rising in line with income growth over the medium-long term, as has been the case for the past 60+ years (apart from a brief period in the late 90s to early 2000s where prices rose faster than incomes. Australian house prices will just keep on doing this regardless of the price of gold or the general global gloom-mongering about the imminent collapse of the USA, China, Europe or whatever country happens to be in vogue for an imminent collapse at any particular time.
Edited by Shadow, 15 Apr 2013, 10:59 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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