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Author Topic: Gold collapsing. Bitcoin UP.  (Read 2014099 times)
Frozenlock
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June 27, 2013, 06:26:11 AM
 #5381

Oh, I thought you meant literally.  Lips sealed
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Frozenlock
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June 27, 2013, 06:28:00 AM
 #5382

Thank God I sold all my PMs.

Also, the puts I have on SLW have exploded in the last two weeks.  Grin


Edit: thanks to Cypherdoc, with his epic thread "Gold I smell trap" that made me rethink my position on PMs.
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June 27, 2013, 06:34:08 AM
 #5383

Thank God I sold all my PMs.

Also, the puts I have on SLW have exploded in the last two weeks.  Grin


Edit: thanks to Cypherdoc, with his epic thread "Gold I smell trap" that made me rethink my position on PMs.

Collapsed UP? Grin
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June 27, 2013, 09:30:05 AM
 #5384

i expect a bounce

Los desesperados publican que lo inventó el rey que rabió, porque todo son en el rabias y mas rabias, disgustos y mas disgustos, pezares y mas pezares; si el que compra algunas partidas vé que baxan, rabia de haver comprado; si suben, rabia de que no compró mas; si compra, suben, vende, gana y buelan aun á mas alto precio del que ha vendido; rabia de que vendió por menor precio: si no compra ni vende y ván subiendo, rabia de que haviendo tenido impulsos de comprar, no llegó á lograr los impulsos; si van baxando, rabia de que, haviendo tenido amagos de vender, no se resolvió á gozar los amagos; si le dan algun consejo y acierta, rabia de que no se lo dieron antes; si yerra, rabia de que se lo dieron; con que todo son inquietudes, todo arrepentimientos, tododelirios, luchando siempre lo insufrible con lo feliz, lo indomito con lo tranquilo y lo rabioso con lo deleytable.
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June 27, 2013, 10:37:15 AM
 #5385

For the record, if I held DZZ or other good short positions, I would liquidate all of them tomorrow.

can you be more specific about your time frame here? sure it could have a reaction back up, but how many have money to spare to support higher gold prices?

Mañana? Before June 28th.

If you think of paper gold as a form of credit, the collapse in prices means that credit is drying up. Nobody wants to lend their asset out anymore.

Okay... paper gold is a form of credit.  So, by selling a claim I own on gold, somehow I'm expressing that I want to hold onto my physical?  How does that work?  Aren't the lenders having their locked up assets returned to a liquid position, thus raising physical supply?

notme,

would you please find me my favorite picture of miscreanity struggling to move that huge gold rock again?  it nicely illustrates just how illiquid gold is.  thanks.

i always misplace that thing...
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June 27, 2013, 10:39:27 AM
 #5386



Just search this thread for "looks heavy" Tongue

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
12jh3odyAAaR2XedPKZNCR4X4sebuotQzN
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June 27, 2013, 10:54:30 AM
 #5387



Just search this thread for "looks heavy" Tongue

certainly not transmittable.
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June 27, 2013, 12:03:29 PM
 #5388



Just search this thread for "looks heavy" Tongue

certainly not transmittable.

I want to see the picture of you transferring 10's (100's) of millions of dollars worth of bitcoins around in one tx ... screenshots or it didn't happen Smiley

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June 27, 2013, 03:30:20 PM
 #5389



Just search this thread for "looks heavy" Tongue

certainly not transmittable.

I want to see the picture of you transferring 10's (100's) of millions of dollars worth of bitcoins around in one tx ... screenshots or it didn't happen Smiley

What would it cost to transfer 5000 pounds of gold, say overseas?

Here's a clue. It would cost at least $40,000 from NY to London. And that is without even being fully insured.

Around 1/20th of one percent?  Not bad, and I would have expected it to be much more.  As a percentage, it's actually less than the transaction fees of many/most BTC transactions even though the costs of these are very highly subsidized at this time.

If I were moving $100M I'd be hiring some serious IT talent to make sure I was using a clean system and binaries and such unless I could do it myself.  I also would be doing it in batches to reduce the chances of getting stuck on the short side of a hard fork or something crazy like that.  Indeed, it could be that a chartered flight touched down on Airstrip One with the bricks before my BTC was fully moved.


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June 27, 2013, 05:52:15 PM
 #5390

Again...

Nekrobios
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June 27, 2013, 05:55:34 PM
 #5391

That's incredible.

Double Digit Bitcoins, Triple Digit Gold?
Frozenlock
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June 27, 2013, 06:06:25 PM
 #5392

That's incredible.

Double Digit Bitcoins, Triple Digit Gold?

Counting on it.

And now silver is following:

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June 27, 2013, 06:19:21 PM
 #5393

That's incredible.

Double Digit Bitcoins, Triple Digit Gold?

Counting on it.

And now silver is following:



Frozenlock,

-what's your guess at the bottom for paper silver and gold, and
-if you think it will happen, do you have a guess for when physical stops being available for either/both?

I'm watching daily COMEX reports, and APMEX's inventory as a hopeful early indicator.
It looks like we have at least a bit more downside. How far is the trillion dollar question :-)


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June 27, 2013, 06:20:49 PM
 #5394

I'm not that sophisticated.

All I know is that it was a down-trend and I got out.  Wink
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June 27, 2013, 06:23:39 PM
 #5395

I'm not that sophisticated.

All I know is that it was a down-trend and I got out.  Wink

Ahhhh.  I'm catching the falling knives, buying increments on the way down.  Which is tough when your premise for the trade expects the eventual upturn to be violent.

Your position is a bit less stressful   Cheesy

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June 27, 2013, 06:43:34 PM
 #5396

For the record, if I held DZZ or other good short positions, I would liquidate all of them tomorrow.

must be some sort of subliminal capitulation  Wink

Of sorts Smiley

The risks of remaining in the system exceeded my threshold late last year.

I strongly suspect another Lehman event took place at the end of May. If the effects of whatever occurred had not been temporarily averted, I believe we would've seen a widespread banking failure. Since that has been averted, there must have been a heavy cost - far greater than that of 2008 was. The results cannot be far off.

Because of that, squeezing an extra 10-20% or more out of the short paper play simply doesn't hold greater weight than the danger of unrealized gains being frozen and potentially lost entirely if left in the system. Deteriorating trust at the highest levels trickles down - those lower down may be trapped if they remain connected.

I should've added that I'd be removing profits by acquiring physical metals, bitcoins, and as many real assets as I could get my hands on that have as little contractual necessity as possible between myself and direct possession.
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June 27, 2013, 08:16:27 PM
 #5397

Gold below 1200.
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June 27, 2013, 08:18:32 PM
 #5398

Gold below 1200.

Very close to gold production price. very very close

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June 27, 2013, 08:32:52 PM
 #5399

today silver is holding better that gold  I wonder if the push to 1200 on gold was to trigger stops. the ration want to 66.3

Los desesperados publican que lo inventó el rey que rabió, porque todo son en el rabias y mas rabias, disgustos y mas disgustos, pezares y mas pezares; si el que compra algunas partidas vé que baxan, rabia de haver comprado; si suben, rabia de que no compró mas; si compra, suben, vende, gana y buelan aun á mas alto precio del que ha vendido; rabia de que vendió por menor precio: si no compra ni vende y ván subiendo, rabia de que haviendo tenido impulsos de comprar, no llegó á lograr los impulsos; si van baxando, rabia de que, haviendo tenido amagos de vender, no se resolvió á gozar los amagos; si le dan algun consejo y acierta, rabia de que no se lo dieron antes; si yerra, rabia de que se lo dieron; con que todo son inquietudes, todo arrepentimientos, tododelirios, luchando siempre lo insufrible con lo feliz, lo indomito con lo tranquilo y lo rabioso con lo deleytable.
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June 27, 2013, 09:13:44 PM
 #5400

Gold below 1200.

Very close to gold production price. very very close

Imho effect of production price on the gold price doesn't matter that much in the short run.  It's important obviously, but I have the feeling that some gold bugs (I consider myself to be one) think that the price will magically rebound at the cost of production.  But the amount of metal already mined is pretty big vs the new supply.  What will 10% less supply per year do versus other factors such as QE etc. ?  The more costly mines will shut down and the average cost of mined gold will go down, all else being equal (and supply will drop some, obviously).
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