Gold is down today because stops got run on the paper gold exchange. That came on the back of a strengthening dollar due to a weaker euro as a mirror effect.
Please return to December of 2009 when the impending dollar rally was sold based on a sustainable US economic recovery. That was enough to convince money managers. That demand then triggers the algorithms which fires off huge fund buying for what today is no reason at all.
Our friends at the COMEX use this phenomena to bomb gold and so many of you have a heart attack selling your insurance in both shares and metals. It is like living in a mental hospital where emotions drive all decisions and most of those are total madness.
Technicals run the short term
Fundamentals run the long term.
Insurance is not a day to day item.
Despite these facts, most of the public gets pick pocketed in the paper gold market as a ritual played out every 28 days. You are not better than Trader Dan therefore stop speculating before you have no money left to protect.
Jobless claims were anticipated lower to confirm December’s US economic recovery enthusiasm, but went the other direction today. This is another wound in the assumption that started your dollar rally in December.
Other reasons given for the general decline in commodities was fear that world demand for raw material will subside. As usual the West assumes it is the engine of world demand for everything.
The West is not anymore.
As the BBC special , "The Last Days of Lehman," clearly points out, the West is F**ked and we did it.
More Here..
Commodity Demand 2010 — Set to Move Higher?
More Here..
Gold May Skyrocket For These Reasons
Link Here...
A Great Little Story On Gold
Excellent Story Here
Even though a depression is coming I dont see the Gold 5,000 like a lot of people and think most commodities will come down with gold just strengthening a little as it will be a major deflationary depression imo.
ReplyDeleteCollege kids are going to have hell getting a college entry level job in this depression and will mostly have to flip burgers and wait tables but even those tip restaurant jobs will be hard to get with all the unemployed. The health field will be the only place hiring much.
ReplyDelete3:49 will not be a deflationary collapse as you see it. Perhaps in some products such as real estate, but not OIL, GAS, FOOD etc. The cost of OIL will drive every single item that is derived from OIL 10 fold. ALL other Commodities will inflate due to the collapse of the US dollar and the inability to pay its DEBT!
ReplyDelete3:53 is is already difficult to even get a fast food job, especially in places like California. Sad thing is a lot of these positions were or are held by illegal immigrants.
ReplyDeleteAmazing !
ReplyDeleteKnee deep ( maybe farther - into this --- "mess")
and still we cannot even agree on whether or not - it's inflation or defaltion.
people will drive themselves nuts trying to figure it out; showing all whom are observing that they really have no clue after all if they really had access to the crystal ball; they sure as hell wouldn't be wasting their time posting here.
meanwhile good people - take it from a broken down chicken farmer who's seen most and definitly
heard it all. Gold will always hold it's own --
ALWAYS. Every ounce EVER mined would fit comfortably into a 60 foot by 60 foot room !
paper money meanwhile -----------------------
well; I really don't need to go there now do I.
3:55 you may be right but I think we will see oil back to 50 dollars again before we see it skyrocket.
ReplyDelete4:27 - If you have a bookie somewhere close give me a chip number and his quad.
ReplyDeletebecause if there was ever a sucker it's you and I want some of that action.
when oil hit's 50 - the entire world will have collapsed and nobody will care.
meanwhile - it's going to 150 - odds? 75 to 1
4:05 I hear the same thing. The only college grads getting a job are in nursing or something like that or they have a great connection to get them inn somewhere. It has never been this bad before. I think I read 80% are having to move back with their parents and almost half of that 20% that didnt are just waiting tables or some other job like that. Some are adding to the debt they will never be able to pay back by going for a Masters Degree which isnt getting anyone hired either.
ReplyDelete4:31 it hit $ 38 during the initial collapse. The reason I am in the deflationary camp for the beginning of this about a year or so from now is that the money supply is shrinking so there wont be a ton of money chasing too few goods at first. I could see major inflation coming later if the banks start lending recklessly. That is just my opinion however. I see a 1930's style depression. Gold will go up however unlike the other stuff.
ReplyDelete3:53 and anyone else.. WHO cares about your opinion. And I dont mean any offense, but either you buy gold/silver and sit on it like you do with life insurance, or you dont. It's simple. I have 200 silver rounds I bought last year for $12.17 each. They are in my gun safe, I will not touch them unless needed, and if i need them, then its a good thing they are close to my guns, cause i will probably need them too. A bunch of 'anons' posting on a blog(including me), should never influence your business decisions. And if you think gold/silver is going to crash, then dont buy the dang stuff, who cares.
ReplyDeleteGood Luck to all!
Next time you Copy Paste Jim Sinclair's complete article word for word, you best give credit due and back link to his site.
ReplyDeleteYou've made it look like you pulled his quote for your title, then you wrote the text with your a CRB chart.
CIGA
CIGA did you not see the link? Everyone else sees it! MORE HERE...with his name on the headline!
ReplyDeleteThis comment has been removed by a blog administrator.
ReplyDeleteLOL.......$1650 gold? LMAO
ReplyDeleteWhat does the idior parrot shill and mouthpiece know?
WHat a farce!
Hmmmmm once upon a time back in like 2003 I wanted to buy silver and gold coins...People looked at me like I was a weirdo.
ReplyDelete"Why spend 7 dollars on a silver eagle or 350 bucks on a gold coin?...That's stupid!"
So I didn't and spent my money on frivoulous things...Now 6 years later in retrospect I see those people didn't mean to be but were in a way enablers.
See if I'm right about the things I see and read and sense that means "THEIR ENTIRE LIFE HAS BEEN A LIE AND A JOKE."
So people who have nothing to gain will fight for us to invade Iran/Iraq, say that the economy is fine, support Isreal, have bases all over the world in countries that want us out, eat/drink as much as possible and drive and own whatever they want.
Like a small selfish child..."MINE MINE MINE!"
Thing is we all grow up and the Piper does have to be paid...Those who fight to not have change are the ones who seem less prepared because if they prepare then they are saying that they agree with me and they can't do that out of ego's sake.
My co-workers used to tease now they get kind of quiet and ask me where I got this or that...The tide is turning but for most it's too little too late...We still have a lil while before it goes like Greece or Argentina but come on trolls and disbelievers have you ever seen the economy this BAD ever in your life?
Compare to the late 70's / middle 80's /late 90's or the cyber bubble in the early 2000's?
This whole thing is world wide and getting worse...And I'm the crazy one?