Gold Price - Where is it heading?

bean · 20 September 2008

bean said:
GOLD IS GOING TO THE MOON === A MUST READ
WHAT PRICE GOLD???
http://http://www.moneymarketing.co.uk/cgi-bin/item.cgi?id=173208

Read this the US government is going to back the Financial debt with its GOLD reserves.

Dowdy · 20 September 2008

Dowdy said:
it'll get to a low of 830 today, then get to around 880.

The US is only postponing the inevitable crash with all these bailouts

Picked the bottom well and only $10 off the top. Damn! I'm good :

gemtrawler · 20 September 2008

My thoughts on the surprising USD strength - I'm not talking about inflation, just the dollar strength here.
(Please note I'm not an economist - so would appreciate some feedback, this could be flawed thinking on my part)..

Let's use crude numbers just to illustrate..

1. Prior to all the trouble and whilst we were in the bull market the US economy had an economy that appeared to be $10 trillion strong ( GDP) .
There was a housing bubble and commodity prices were also high, say $1 trill dollars worth of froth ,, so whilst it thought it had a $10 trillion economy and the market thought it had a $10 trill economy it was actually a $9 trill economy .. so whilst the markets had assigned it a notional value of 10 the dollar was really worth a 9.

2. so before all the financial rescue packages we really had a $9 trill economy .. maybe the dollar gradually slid back to represent this new market view and realisation of the froth and did gradually go back down to the 9 value.

3. But just after this we saw the bank collapses and we have had a huge printing and injection of money to revive the economy and bail out financial institutions.
There was also the Bush incentive package to stimulate the economy.
Let's say there was an injection of $2 trill worth of funds to achieve that ..
so now we are back to a $9 trill GDP economy of which $7 trill is real and there's $2 trill of fake GDP.

So shouldnt the dollar value be now 7 not 9 , why/how has it risen against the rest of the world currencies recently last couple of months? Especially against strong currencies like the yen.
Shouldnt the market be assessing it that way ?

yet the market now sees the dollar as a $10 again .. how's that possible?

suggests to me the USD is artificially high and has been manipulated that way.
Note we're not talking about inflation - just the USD strength here.

gemtrawler · 20 September 2008

So further to my last post(and perhaps flawed thinking) .. the US dollar should drop to its true value at some stage if left to its own devices, in which case gold should rise against it, as it has been kept artificially low.

In fact all commodities should be rising.

Uncle Festivus · 20 September 2008

US Government to secure mortgage market with gold reserves

Lee Jones - 19-Sep-2008 The U.S. Treasury Department has promised “hundreds of billions” to save the US markets using its own gold reserves.

President Bush approved the use of existing authorities by Treasury secretary Hank Paulson to make available as necessary the assets of the Exchange Stabilisation Fund for up to $50 billion to buy more illiquid mortgage assets.
When the Government bailed out the the Government Sponsored Enterprises it promised to buy illiquid mortgage backed securities, but this announcement extends that pledge. The ESF was created after the Great Depression and uses the US gold reserve as collateral for financial stability.

The trouble is, nobody knows what the real gold reserves are, or if they exist at all?

bean · 20 September 2008

RAIDS OF INDIVIDUAL ACCOUNTS

This is so important a topic, that it deserves top billing!!! Hidden inside the AIG bailout funding package, surely hastily cobbled together, but carefully enough to include a totally corrupt clause, was a handy dandy clause that permits raids. The conglomerate financial firms are permitted at this point to use private individual brokerage account funds to relieve their own liquidity pressures. This represents unauthorized loans of your stock account assets. So next, if the conglomerate fails, your stock account is part of the bankruptcy process. Finally the corrupt USGovt and corrupt Wall Street houses are desperate enough to put into policy, stated by the US Federal Reserve, outlining the authorized raid of your money.

For the full article
http://http://www.321gold.com/editorials/willie/willie091908.html

bankit · 20 September 2008

Uncle Festivus said:
The trouble is, nobody knows what the real gold reserves are, or if they exist at all?

The attached link is the official site for US Gold reserves:

http://www.fms.treas.gov/GOLD/current.html

Note at the bottom of the figures that the physical gold is "examined annually" not audited???

I had some information (but can not find it at the moment ) which states that an official audit has not been held for umpteem years.

michael_selway · 20 September 2008

gemtrawler said:
So further to my last post(and perhaps flawed thinking) .. the US dollar should drop to its true value at some stage if left to its own devices, in which case gold should rise against it, as it has been kept artificially low.

In fact all commodities should be rising.

Hm gooid point

But is it true that if US dollar drops and commoditie prices rise in effect, then in Australian Terms its a 0 effect?

thx

MS

bean · 20 September 2008

For us goldies for a good laugh

Hitler gets a margin call

http://uk.youtube.com/watch?v=eVB-SSkkLnY

Uncle Festivus · 20 September 2008

bean said:
For us goldies for a good laugh

Hitler gets a margin call

http://uk.youtube.com/watch?v=eVB-SSkkLnY

ROFLOL - very clever. I blame Goldman Sachs too - all those traiters

barrett · 20 September 2008

bean said:
For us goldies for a good laugh

Hitler gets a margin call

http://uk.youtube.com/watch?v=eVB-SSkkLnY

OMG Bean that is hysterical!! Loved the bit about Paul van Eeden, and Aurelian takeover.. roflmao:

Kauri · 20 September 2008

refined silver said:
I think you're a bit mixed up! Its your job as a trader to say where its heading for the next few sessions.

We'll tell you where its ultimately headed as the system breaks down. Most gold bugs by definition are focussed on the bigger picture.

I'm tired of saying where I tink it's going over the next few sessions... my job is actually to trade it... I post to fill in the time.... atween trades... and read posts.. mostly for amusement..
ultimately headed.... why nott..
Cheers
............kauri

chops_a_must · 20 September 2008

US Government to secure mortgage market with gold reserves

Lee Jones - 19-Sep-2008 The U.S. Treasury Department has promised “hundreds of billions” to save the US markets using its own gold reserves.

President Bush approved the use of existing authorities by Treasury secretary Hank Paulson to make available as necessary the assets of the Exchange Stabilisation Fund for up to $50 billion to buy more illiquid mortgage assets.
When the Government bailed out the the Government Sponsored Enterprises it promised to buy illiquid mortgage backed securities, but this announcement extends that pledge. The ESF was created after the Great Depression and uses the US gold reserve as collateral for financial stability.

Uncle Festivus said:
The trouble is, nobody knows what the real gold reserves are, or if they exist at all?

Lol. Just lol.

Giving the only real worth the US system has left, to people who have bankrupted a nation.

No wonder the money markets nearly entirely collapsed with the Chinese rapidly trying to convert to Gold stores.

Temjin · 21 September 2008

bean said:
For us goldies for a good laugh

Hitler gets a margin call

http://uk.youtube.com/watch?v=eVB-SSkkLnY

ROFL!!!!!!! HAHAHH that gave me such a good laugh! HAHAHHH! Almost cried at the end! Great find!

Great timing too, a few days just before the rally.

Temjin · 21 September 2008

chops_a_must said:
Lol. Just lol.

Giving the only real worth the US system has left, to people who have bankrupted a nation.

No wonder the money markets nearly entirely collapsed with the Chinese rapidly trying to convert to Gold stores.

And lol, where do they get their gold reserve from?? There isn't supposed to be much left in their vault, which hasn't been audited for decades!!!

Ashsaege · 21 September 2008

bean said:
For us goldies for a good laugh

Hitler gets a margin call

http://uk.youtube.com/watch?v=eVB-SSkkLnY

That was gold!

They did an Adelaide Crows version of that video too.

Uncle Festivus · 22 September 2008

My concern now, if it does get to that point, is that the ASX & ASIC halt trading for all shares, let alone goldies. Gold going through the roof and unable to trade???? Where's my bullion?

refined silver · 23 September 2008

bean said:
For us goldies for a good laugh

Hitler gets a margin call

http://uk.youtube.com/watch?v=eVB-SSkkLnY

Thats EXACTLY what happens when you use margin in gold!!

MrBurns · 23 September 2008

I think it's now time to buy physical gold but I need reassurance, that's honesty for you.

I'm about to call the Perth Mint and put a 6 figure sum into phyical gold.

Is there anything I've missed ?

wayneL · 23 September 2008

MrBurns said:
I think it's now time to buy physical gold but I need reassurance, that's honesty for you.

I'm about to call the Perth Mint and put a 6 figure sum into phyical gold.

Is there anything I've missed ?

The spread.

It's enourmous on the actual shiny stuff.

They also will log you as the holder... confiscation anyone?

Gold Price - Where is it heading?

bean

Dowdy

gemtrawler

gemtrawler

Uncle Festivus

bean

bankit

michael_selway

Coal & Phosphate, thats it!

bean

Uncle Festivus

barrett

Kauri

E/W Learner

chops_a_must

Printing My Own Money

Temjin

Temjin

Ashsaege

Uncle Festivus

refined silver

MrBurns

wayneL

VIVA LA LIBERTAD, CARAJO!

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Gold Price - Where is it heading?

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