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let me add ABX to that list.
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Gold is a bubble. It has little economic value, and no one is going to carry around gold to do economic exchange.
Personally, the sooner it pops the better.
Thank You. FYI, at Fidelity there are NO AVAILABLE SHARES TO SHORT of GG, SLW, PAAS, SSRI, GDXJ, RGLD, SLV. all sold to miscreanity. |
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I would just like to note that the exchanges' spot price of gold has not fallen through the lower trend channel line. Good to look at the charts on the longer-term perspective. It went over the channel for a short while but is back within it.
what would you like to note for silver? |
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Yep, we're still around. We do have a few outstanding backorders, but we've mostly caught up. Some people are also missing their bitbills because we required signature on the delivery, and they weren't around to sign and they were ultimately returned to us. We are contacting those people as we get their bitbills back. As always, if you have a question about your individual order, please email us at support@bitbills.com or feel free to PM me. so why won't you be honest about whats been going on? you've said a few times that you'd be back online months ago but it hasn't happened. |
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go to the mtgox irc channel and ask him to change it. i've never had any limit on my withdrawal of BTC's.
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notice how this whole new EFSF proposal is based on leveraging up 8:1. that means more debt piled on top of existing debt. if they try this it will undoubtedly explode in their faces and we all know what happens when the debt goes boom.
The EFSF debt can be used at the ECB discount window. Money printing, not real debt. i don't think it represents money printing b/c the initial money has to come from investors: "The special purpose vehicle would issue bonds from investors and use the proceeds to purchase sovereign debt of distressed European states." http://www.cnbc.com/id/44673564 |
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notice how this whole new EFSF proposal is based on leveraging up 8:1. that means more debt piled on top of existing debt. if they try this it will undoubtedly explode in their faces and we all know what happens when the debt goes boom.
The EFSF debt can be used at the ECB discount window. Money printing, not real debt. it won't work. remember MLEC Super SIV? http://www.zerohedge.com/article/mlec-sheeps-clothing-latest-greek-bailout-proposal-picks-where-super-siv-failededit: this is just another shell bullshit game to dump the toxic sovereign debt onto the public. when is the insanity ever going to stop? |
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notice how this whole new EFSF proposal is based on leveraging up 8:1. that means more debt piled on top of existing debt. if they try this it will undoubtedly explode in their faces and we all know what happens when the debt goes boom.
The EFSF debt can be used at the ECB discount window. Money printing, not real debt. do you have the details of how this will be structured? |
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notice how this whole new EFSF proposal is based on leveraging up 8:1. that means more debt piled on top of existing debt. if they try this it will undoubtedly explode in their faces and we all know what happens when the debt goes boom.
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What I find interesting about this is that they clearly view all forms of digital money in the same light. They cannot (yet) discern what is unique about bitcoin relative to other forms of digital money (past and present). In time they will.
when its in your best interest not to understand something, you won't. |
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at least the LGE didn't deal in Bitcoins. elimination of some competition?
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@misreality: you're buying right here, aren't you? or is it puts you're buying?
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ask yourself, what are commodities in general telling me? for that matter ALL markets. copper, wheat, rice all topped in Feb. TLT began its long rise. they were the first warning signs. then in May, stocks, oil, and silver topped. i shorted the hell out of silver then and made a fortune. that was a huge confirmatory red flag for me. i told you way back that these different markets top not all at once but sequentially over months time to create maximum confusion. the silver retrace to an exact 61.8% was classic. you already know i was watching that like a hawk. when it refused to penetrate weeks ago i warned, waved my hands, jumped up and down here on this thread but no one esp. yourself would listen. silver is now down 38% from the top. AND the motive move for this wave 3 of 5 down is only 2 days old. its broken convincingly its support at 34 on high volume. i told you Ben's decision on Wed was one for the ages. the 3rd or 4th confirmation that no more USD printing was in store. you can kick and scream all day long that this is what he's done up til now and this is what he wrote in his 2002 paper but the fact of the matter is he hasn't and he won't. the USD is headed up in an unrelenting move and is going to crush all risk assets in its path. best get out of the way. edit: i should add that SLW and other silver stocks peaked in April. just another in the sequence. |
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the trouble with this theory is that all the gold bugs like yourself are standing around waiting for the other guy to go first. we've run out of buyers. we're at the end of an 11yr bull. what happened to all the Big Buyers that were supposed to jump in at the 1680 gold gap or the silver 200 DMA misreality was talking about? we knifed thru those levels like butter. the pain has just begun. listen to Ben Davies podcast. he's waiting for everyone else to stabilize the situation too. you'll be waiting a long time. |
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My advice: take some of your short profits now and sew your mouth shut so you won't have to pick your jaw up off the floor in a month.
i'm glad we have a timeline in place. let's see. |
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@misreality and MatthewLaMe: http://www.recover-from-grief.com/7-stages-of-grief.htmlyou sirs are only in #1. but you're in good company. the gold pundits are out in force this weekend desperately trying to stem the panic out of pm's. Ben Davies at least says he was smart enough to minimize his positions in pm's (meaning he was selling) but i seriously doubt it. he and everyone else are trapped at the top and will be forced to go thru all 7 stages of grief which end in selling capitulation. thats how markets work in our boom bust age. severe swings in the pendulum killing speculators at each end of the swings. when you're silent and long gone from this thread will the pain finally end. you're in trouble and you know it. |
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truly, the PM's call was an easy one. my focus right now is on the stock mkt and what happens there.
Have you closed your shorts? You don't see gold dropping below $1600 in the short term? no and yes. yes, in the sense that i do see it dropping below 1600 short term. |
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truly, the PM's call was an easy one. my focus right now is on the stock mkt and what happens there.
Have you closed your shorts? You don't see gold dropping below $1600 in the short term? no and yes. The individuals presenting their viewpoints are obviously very proficient with charting and savvy at financial analysis, but I haven't seen any ideas other than technical methods based on assumptions that work in a situation with stable, well-defined rules and generic explanations based on traditionally-accepted investing knowledge. There is little in the way of stability now and the rules are being changed rapidly. Wave analysis has limited function under such circumstances. Remaining unaware of factors that change the rules will make the short-term gains seem paltry and fleeting compared to buying the dips in gold. It would be prudent to close half your shorts; at least set stops at a little above break-even. No sense in watching such a nice profit evaporate. Hold all physical metal. I'm buying real metal hand-over-fist. My usual dealer is sold out until next week. Price can't decline with no supply and high demand. Waves can't change the fundamentals of reality. The gap being backed and filled so forcefully introduces a larger wave of demand than would've been expected without that having been achieved - it's now a launching platform. More long call options to be opened throughout next week. Some were closed at a small profit; the rest are good until early 2012. Upper price targets still in play, although with this push down they may actually underestimate the resulting rebound. If you're worried about the downside (because of fear or margin trading), you shouldn't be in this market. Predictable that the paper price of the metals was severely hammered after they were stabilizing; a blatant assault designed to force a margin squeeze prior to futures options expiration on the 27th. Odd that it was such a quiet final day of the week for all other markets. Not to mention margin hikes, bringing the exchanges ever closer to a full cash basis. Who do you think will be buying on the way up? I guarantee the banks that have massive outstanding delivery obligations on the horizon will be among the biggest buyers, closing out their own untenable short positions. Japan is finally making noise about the Yen's "fair value" being between 80-90 per USD. The final week of the month will be a vicious bout of deflationary excess, creating even more pressure and delaying the inevitable. Shorts have over-extended themselves against a tidal wave of buying. Support broke in July and is now being retested as resistance. Just as the gap in gold below $1,680 was filled, the gaps between 0.043-0.047 will be filled. That is also a rally based on "least worst" and not any form of value.  My advice: take some of your short profits now and sew your mouth shut so you won't have to pick your jaw up off the floor in a month. you can't use gap analysis on ratio charts. gaps are EVERYWHERE. if i use the $USD/$SILVER chart, there is a gap way up there at 5.00 from June 2010. are you saying the ratio is going to go there too? oh btw, that same ratio chart is up 44% since the bottom. quite the trade, long USD short silver, huh? the $USD/$GOLD is up 27% from the bottom too. GLD has a small gap down at 132. are we going there too? |
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