Thats pattern as I have said many time before is a standard pattern in all markets during bull runs. Big moves during out of hours trading, then back filling during high volume sessions. It happens in equities and other commods as well. Of course if a normal pattern happens in PMs and its down its a conspiracy.
Actually you stated,I stated, "...in off market periods" where is the conspiracy?
Gold will dip, as it did today, violently in off market periods
Actually you stated,
Clearly I do not understand the English language. As your sentence made reference to dip, "off" market periods and then used the inclusive "as it did today". Where clearly the falls where during the High vol Comex hours.
Here it comes - hyperinflation!!!
http://watch.bnn.ca/squeezeplay/december-2010/squeezeplay-december-8-2010/#clip386602
Stock up on freeze dried food and ammo
What i'm interested in is the last time the US had hyper-inflation, what effect did that have on Australia?
To dismiss this as some US-centric problem that won't effect Australian prices is a bit pre-mature I believe. Because back then not all commodity prices were denominationally fixed and universally traded in US dollars.
Considering all of these commodities are now valued and traded in US Dollars
That's not an easy question to answer. I'm not a historian.
But the economics of Australia around that time were centered around the
Robertson Land Acts in an attempt to break up the domination of land holdings by free settlers "squatters". In the prior decade there was the gold rush of course. And then there was the collapse of commodity prices and the crash of the Federal Bank in the 1890's.
What effect it did have in the last real hyper-inflationary event in America was a huge jump in the Lerner Commodity Price Index.
During the Revolutionary War, the Continental Congress authorized the printing of paper currency called continental currency. These easily counterfeited notes depreciated rapidly, giving rise to the expression "not worth a continental."
Between January 1861 and April 1865, the Lerner Commodity Price Index of leading cities in the eastern Confederacy states increased from 100 to over 9000. As the U.S. Civil War dragged on the Confederate States of America dollar had less and less value, until it was almost worthless by the last few months of the war.
http://eh.net/encyclopedia/article/weidenmier.finance.confederacy.us
To dismiss this as some US-centric problem that won't effect Australian prices is a bit pre-mature I believe. Because back then not all commodity prices were denominationally fixed and universally traded in US dollars.
Considering all of these commodities are now valued and traded in US Dollars
Corn CBOT 5000 bu C/ZC (Electronic)
Corn EURONEXT 50 tons EMA
Oats CBOT 5000 bu O/ZO (Electronic)
Rough Rice CBOT 2000 cwt RR
Soybeans CBOT 5000 bu S
Rapeseed EURONEXT 50 tons ECO
Soybean Meal CBOT 100 short tons SM/ZM (Electronic)
Soybean Oil CBOT 60,000 lb BO/ZO (Electronic)
Wheat CBOT 5000 bu W/ZW (Electronic)
Cocoa NYBOT 10 tons CC
Coffee C NYBOT 37,500 lb KC
Cotton No.2 NYBOT 50,000 lb CT
Sugar No.11 NYBOT 112,000 lb SB
Sugar No.14 NYBOT 112,000 lb SE
Livestock and meat
Commodity Contract Size Currency Main Exchange Trading Symbol
Lean Hogs 40,000 lb (20 tons) USD ($) Chicago Mercantile Exchange LH
Frozen Pork Bellies 40,000 lb (20 tons) USD ($) Chicago Mercantile Exchange PB
Live Cattle 40,000 lb (20 tons) USD ($) Chicago Mercantile Exchange LC
Feeder Cattle 50,000 lb (25 tons) USD ($) Chicago Mercantile Exchange FC
Commodity Main Exchange Contract Size Trading Symbol
WTI Crude Oil NYMEX, ICE 1000 bbl (42,000 U.S. gal) CL (NYMEX), WTI (ICE)
Brent Crude ICE 1000 bbl (42,000 U.S. gal) B
Ethanol CBOT 29,000 U.S. gal AC (Open Auction) ZE (Electronic)
Natural Gas NYMEX 10,000 mmBTU NG
Heating Oil NYMEX 1000 bbl (42,000 U.S. gal) HO
Gulf Coast Gasoline NYMEX 1000 bbl (42,000 U.S. gal) LR
RBOB Gasoline (reformulated gasoline blendstock for oxygen blending) NYMEX 1000 bbl (42,000 U.S. gal) RB
Propane NYMEX 1000 bbl (42,000 U.S. gal) PN
Precious metals
Commodity Unit Currency Main Exchange
Gold troy ounce USD ($) NYMEX
Platinum troy ounce USD ($) NYMEX
Palladium troy ounce USD ($) NYMEX
Silver troy ounce USD ($) NYMEX
Industrial metals
Commodity Unit Currency Main Exchange
Copper Metric Ton USD ($) London Metal Exchange, New York
Lead Metric Ton USD ($) London Metal Exchange
Zinc Metric Ton USD ($) London Metal Exchange
Tin Metric Ton USD ($) London Metal Exchange
Aluminium Metric Ton USD ($) London Metal Exchange, New York
Aluminium alloy Metric Ton USD ($) London Metal Exchange
Nickel Metric Ton USD ($) London Metal Exchange
Cobalt Metric Ton USD ($) London Metal Exchange
Molybdenum Metric Ton USD ($) London Metal Exchange
Recycled steel Metric Ton USD ($) Rotterdam (source?)
*************************************************
Anyway. If any astute investors, traders or history buffs out there want to enlighten me further or point out any errors in my amateur reasoning then please do so.
I'm only here to learn after all.
Cheers
gumby.
Gumby I'm not sure what your point is?
What i'm interested in is the last time the US had hyper-inflation, what effect did that have on Australia?
Thanks Gumby loads of information just what i was afteri actually have Rogers book but are yet to read it im quite a big fan of Jimmy he's quite down to earth thats what i found good about him.
This is pretty funny...and a little scary at the end.
Why People Don't Buy Gold
~
divergence on gold seems to be getting worse fwiw.... could see a large correction around the corner
Yes IMO we are going to correct, not what I call large, maybe 1300 area.
Come on boys help out JP Morgan and throw a bit out the window.
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