Gold Price - Where is it heading?

[Joules MM1]

Swiss talking Gold Franc ?

Swiss Parliament Examines ‘Gold Franc’ Currency Today

http://www.zerohedge.com/news/swiss-parliament-examines-‘gold-franc’-currency-today

A panel of the Swiss parliament is discussing the introduction of the parallel ‘Gold franc’ currency.

Bloomberg has picked up on the news which was reported by Neue Luzerner Zeitung.

The Swiss parliament panel will discuss a proposal aimed at introducing a new currency, or a so-called gold franc.

Under the proposal, which will be debated in the lower house’s economic panel in Bern today, one coin in gold would be worth about 5 Swiss francs ($5.30), the Swiss newspaper reported. The Swiss franc would remain the official currency, the paper said.

The proposal may lead to a wider debate about the Swiss franc and the role gold might again play to protect the Swiss franc from currency debasement.

 

[CanOz]

Swiss talking Gold Franc ?

Swiss Parliament Examines ‘Gold Franc’ Currency Today

http://www.zerohedge.com/news/swiss-parliament-examines-‘gold-franc’-currency-today

FFFF F me!

The end of fiat is one step closer!

CanOz

 

[Joules MM1]

ah.......nadjers.........resold 78's

 

[Uncle Festivus]

FWIW, I don't think this is the bounce - yet. Things still have to get so dire that the USD is the only game in town, that is when gold will be at it's lowest and the time to buy? So, looking to accumulate gold miners all the way down, mostly NCM......under $24.....

As well, Lava Girl and co will try to test the technical support level at $1500, again, to break the will of gold bulls. They are still in charge, despite what is happening.....

I thought the Franc was a defacto gold currency already??

 

[aclassic]

Uncle Festivus,

Thanks for the drum re Lava Girl.

Some of us are a bit slow hey

cheers.

 

[Joules MM1]

1577 revisit looks like a south paw effort.....aided by covering

 

[Joules MM1]

China's ICBC has big dreams for bullion business
Mon May 28, 2012 4:53pm GMT
By Fayen Wong

http://af.reuters.com/article/metalsNews/idAFL4E8GS2OW20120528

excerpt

SHANGHAI May 28 (Reuters) - Industrial and Commercial Bank of China Ltd is seeking membership of overseas exchanges and aims to become a major global bullion market maker, a senior executive said on Monday.

 

[Joules MM1]

And the Currency Wars Heat Up
Peter Pham

http://www.alphavn.com/2012/05/27/and-the-currency-wars-heat-up/

excerpt

The Three Signs

The CME Group was involved in three major announcements this week, individually they mean very little but in conjunction say a lot:

The margin requirements for Gold and Crude Oil contracts were cut by 13% and 10% respectively.
They announced a 5 for 1 stock split and extended grain trading hours.
Both CME and Intercontinental Exchange (NYSE:ICE) were designated as systemic by the U.S. Dept. of the Treasury

 

[Trembling Hand]

The margin requirements for Gold and Crude Oil contracts were cut by 13% and 10% respectively.

Joules every time the exchange lifts margin rates with an uptending contract the friggin nut bag gold bugs scream conspiracy. Even though the SPAN margin specs are there for all to see.

So what are the tin hat nutters going to say now that margin is going down? No comment I bet.

 

[Starcraftmazter]

Clearly JPM and Goldman Sachs need lower margin so they can short more.

 

[Trembling Hand]

Clearly JPM and Goldman Sachs need lower margin so they can short more.

Clearly you again have shown you do not know about market mechanics - even the basics!

 

[Joules MM1]

Joules every time the exchange lifts margin rates with an uptending contract the friggin nut bag gold bugs scream conspiracy. Even though the SPAN margin specs are there for all to see.

So what are the tin hat nutters going to say now that margin is going down? No comment I bet.

yep, came across a brilliantly written blog today on the eleven thousand contracts dumped (which i happen to have some of, skiing, thankyou!).....the main point was why doesnt the cftc or such like investigate.....all i could think was, it's just a friggin trade.....so what if the guys a disappointed bull......who cares.....

http://jessescrossroadscafe.blogspo...+JessesCafeAmericain+(Jesse's+Café+Américain)

 

[Joules MM1]

Clearly JPM and Goldman Sachs need lower margin so they can short more.

that's dumb logic

.......it's a level playing field......know one other than the exchange gets to gain from the drop in margin, lower margin more participants..........the little guy cant compete anyways ......

 

[Starcraftmazter]

Clearly you again have shown you do not know about market mechanics - even the basics!

Haha what, prove me wrong - lower margin requirements mean JPM and Goldman Sachs can take bigger positions.


Why Gold has been in a downtrend, and why it will reverse soon - From the best Econ show on the planet.

[video]www.youtube.com/watch?v=sXGFSd8PfYU[/video]

Central banks, investment banks, governments - all trying to keep gold down, and all failing. Gold will prevail, hard money will rule the world!

 

[Trembling Hand]

Haha what, prove me wrong - lower margin requirements mean JPM and Goldman Sachs can take bigger positions.

Clueless as usual. Instos don't trade on min margin. But what would you know. You're not even a retail trader.

 

[Starcraftmazter]

Clueless as usual. Instos don't trade on min margin. But what would you know. You're not even a retail trader.

Haha what? The big investment banks will do everything in their power to bring down gold.

 

[Trembling Hand]

Haha what? The big investment banks will do everything in their power to bring down gold.

So now you are showing, AGAIN, that you do not understand margin. Add another one to the list that SCM is an expert on yet knows nothing. And lacks logic to his argument.

 

[CanOz]

Haha what? The big investment banks will do everything in their power to bring down gold.

LOL, there it is again...the patented SCM deflection...


Watching with interest....corn:


CanOz

 

[Starcraftmazter]

So now you are showing, AGAIN, that you do not understand margin. Add another one to the list that SCM is an expert on yet knows nothing. And lacks logic to his argument.

Lower margin requirements mean they will be able to take higher positions. Say it isn't so.

 

[Trembling Hand]

Lower margin requirements mean they will be able to take higher positions. Say it isn't so.

Absolutely incorrect.

Only idiots who don't trade thing margin effects position size.

LOL DUMB!!