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10-16-2008, 10:13 PM | #1 |
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Why Gold Is Dropping When It Shouldn't (by Alex Wallenwein)
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10-16-2008, 10:27 PM | #2 |
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Re: Why Gold Is Dropping When It Shouldn't (by Alex Wallenwein)
Warned people I did that fall gold would
Happened before in the eighties Its a good thing for the people bad for Gold Speculators It may even mean the end to gloom and doom for 20 years... As I said Happened before |
10-16-2008, 10:51 PM | #3 | |
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Re: Why Gold Is Dropping When It Shouldn't (by Alex Wallenwein)
Quote:
No way! You can't compare with the eighties. The debt situation and financial crisis is so much bigger than the problems we had at that time. Fact is there is no physical gold and silver available anymore all over the globe. And when something is not available anymore and people still continue to try buy but don't get it, there is no logic behind, that in the same time such a price goes down, definitely not like this! We will run out of gold and silver within the next 15 to 25 years....$ SO PEAK-GOLD and PEAK-SILVER When all the rescue plans fail, people will start loose confidence in governments and currencies like USD and EURO. By the way: Goldprice in EUR reached new all-time-high last week and Goldprice in YEN is at its highs as well. The thing today is, that there so much bullsh.....g and manipulation going on, that just because the goldprice is trading below 800 today this does not mean that the truth is reflected in this price! Lets wait until COMEX goes default, or those manipulation gets investigated. And look, they want to come up with a new Dollar called AMERO! Investors will only have trust into AMERO, if it will be gold-backed like in the good old times before Nixon! Cheers, silverman |
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10-16-2008, 10:58 PM | #4 |
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Re: Why Gold Is Dropping When It Shouldn't (by Alex Wallenwein)
There are two markets in Gold, the real one and the fake one.
The fake one, is paper based, the real one is Gold based. When the paper market in gold unfolds (as it looks like it might soon) you will find that real physical Gold is worth its weight, um, in Gold Meanwhile, in the interim, if you have some money free, and you know someone who has physical gold in stock, buying a few coins off them might not be a bad idea. A.. |
10-16-2008, 11:30 PM | #5 |
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Re: Why Gold Is Dropping When It Shouldn't (by Alex Wallenwein)
You guys are missing two important points:
1. The United States commands a lot of power in the world, so at the end of the day, people will rally around its dollar, as is happening now. The psychological factor is MORE important than anything. 2. Almost every other country in the world that has money right now, has it in Dollars (China, Saudis, Russia, etc, etc). All these countries have been selling Resources to America in return for Paper Dollars, which currently have worth. The simple fact is, if they start dumping dollars, it will cause a chain reaction that will collapse the dollar and all their wealth. America will still have what they bought, but those other countries will be out those resources plus the wealth they thought they had. The bottom line is, the US is just the safest form of currency right now and everybody is cought in its grasp and can not offload that currency because doing so would screw them as much as the US. As for the Euro, it will devalue even more in the future due to poor economics in those countries. Too much socialism and uncompetitiveness will hurt it more than it does America. |
10-17-2008, 12:00 AM | #6 | |
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Re: Why Gold Is Dropping When It Shouldn't (by Alex Wallenwein)
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But I have an excellent exercise for you: If you are in the US - can you please buy me some lets say 1'000 1-Ounce-Silver-US-Liberty coins? - As soon you found an official dealer, willing to sell lets say @ USD 15 (which is a premium of >50% to the Silver spot price).... - and the 1000 ounces will be shipped over to Switzerland (the dealer shall take care of this) - I will give you my contact details you give to the dealer, and I will pay you USD 1 per ounce which makes USD 1'000 - If all this runs smoothly and you can get even 10'000 1-Ounce-Silver-Liberty-Coins we do the same business again! Deal? Cheers, silverman Last edited by silverman; 10-17-2008 at 12:02 AM. |
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10-17-2008, 04:33 AM | #7 |
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Re: Why Gold Is Dropping When It Shouldn't (by Alex Wallenwein)
[QUOTE=silverman;53839]Oops, I believe you missed some chapters or you just came back from a one years holiday!
But I have an excellent exercise for you: If you are in the US - can you please buy me some lets say 1'000 1-Ounce-Silver-US-Liberty coins? - As soon you found an official dealer, willing to sell lets say @ USD 15 (which is a premium of >50% to the Silver spot price).... - and the 1000 ounces will be shipped over to Switzerland (the dealer shall take care of this) - I will give you my contact details you give to the dealer, and I will pay you USD 1 per ounce which makes USD 1'000 - If all this runs smoothly and you can get even 10'000 1-Ounce-Silver-Liberty-Coins we do the same business again! Deal? Cheers, silverman Add me to the list. Just check-out Ebay for the prices of physical gold/silver. Its waaay above the paper - cyber values the markets show. The few bullion traders that I have been following ran out of silver months ago and recently have no gold bullion left. |
10-19-2008, 01:01 PM | #8 | |
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Re: Why Gold Is Dropping When It Shouldn't (by Alex Wallenwein)
=
= Interesting post by Jim Sinclair about Gold and COMEX: Quote:
Link: http://www.jsmineset.com/ = = |
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10-19-2008, 02:55 PM | #9 |
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Re: Why Gold Is Dropping When It Shouldn't (by Alex Wallenwein)
bravo, i enjoyed reading. How long would you assume til it hits the fan?
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10-19-2008, 05:24 PM | #10 |
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Re: Why Gold Is Dropping When It Shouldn't (by Alex Wallenwein)
Quicker'n you can say, "Duck!"
__________________
"Life IS mystical! It's just that we're used to it" Evil cannot be killed. Only redeemed. Chat us up at: Avalon Chat |
10-19-2008, 05:47 PM | #11 | |
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Re: Why Gold Is Dropping When It Shouldn't (by Alex Wallenwein)
Quote:
give u a good idea of wen this is all gonna happen if u listen carefully youll realize hes already been right of a few of the things he was talkin about |
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10-20-2008, 06:05 AM | #12 |
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Re: Why Gold Is Dropping When It Shouldn't (by Alex Wallenwein)
It's got to hit soon, silver below $9.00 an Oz. and all the dealers are out of stock. It makes no sence at all, the last big precious metal boom was in late 70's early 80's and silver hit close to $80.00 an oz (if memory serves correctly) and you were still able to buy physical bullion.
PTB are with out a doubt buying up precious metals and loading the market with paper to hold down the value. This realy bothers me, what most don't understand is that the post civil war U.S. was built on silver and not gold. When there is no silver, this leads me to believe that we have paid someone off with our silver reserves. |
10-20-2008, 06:43 AM | #13 |
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Re: Why Gold Is Dropping When It Shouldn't (by Alex Wallenwein)
Any of you ever traveled in the East? Here in Thailand, as throughout Asia, there are gold shops aplenty, even the smallest town will have a few. At these shops you can buy gold jewelery or bars of various weights. It's an easy, quick transaction. Even more amazing is that these shops have no security: no security bars, no guards, no security cameras - one of the clearest indication you could hope for that this is a low crime environment. Whenever Thai people need some cash they sell a necklace or bracelet. There is NO SHORTAGE here at all. Interestingly enough necklaces can be broken down into individual links and you could use these to pay for small amounts. People know the value of each link. Small rings and bracelets too can be used for minor payments. Much easier then carrying coins around - how do you cut up a coin for a small payment? All this talk about coins really makes me laugh, very impractical system I think.
Silver jewelery is also readily available - either sterling (96%) or Karen hilltribe (99%) purity. You can also go to specialist shops and buy lab grade (99.99%) to your heart's content. Again NO SHORTAGE at all. |
10-20-2008, 06:48 AM | #14 | |
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Re: Why Gold Is Dropping When It Shouldn't (by Alex Wallenwein)
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Not just your silver reserves !....................... I bet Fort Knox has got the odd empty shelf! |
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10-20-2008, 07:01 AM | #15 | |
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Re: Why Gold Is Dropping When It Shouldn't (by Alex Wallenwein)
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China for one, over the last 18mths or so has been buying all the non-ferous metals it can get it's hands on. Originally put down to an expansion boom in construction. NOT SO! no sir, China has been spending it's dollars, big time! Lead, Copper, Zinc, Aluminium. They Know the $ is gonna crash, they want something which will have a value and if worst comes to worst, they can either control the market or use the metals. Only my view, but wait and see. |
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10-20-2008, 07:48 PM | #16 | |
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Re: Why Gold Is Dropping When It Shouldn't (by Alex Wallenwein)
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Namaste' |
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10-21-2008, 12:36 AM | #17 | |
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Re: Why Gold Is Dropping When It Shouldn't (by Alex Wallenwein)
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But what concerns Gold, yes, the few Gold and at this point it does really not matter where it is...but any quantity reported so far doesn't convince me there is enough physical silver or gold...it makes me big time laugh all these stories..."woooh I know some stores somewhere on planet earth...they still have plenty of Gold"....listen: In Switzerland there is bank, which is called Name of Bank: Zürcher Kantonalbank Street: Bahnhofstrasse 9 ZIP: 8002 City: Zurich Country: Switzerland Recent statement of the precious metals trading of the bank: "Right now we sell 3 to 5 tons of PHYSICAL Gold per day!". Ok this sounds not spectacular at first sight and I am sure Mac Donalds sells much more Ham- and Cheeseburgers measured in tons per day.... But if ZKB continues to sell only 2 TONS OF PHYSICAL GOLD A DAY MULTIPLIED TIMES 200 TO 250 BUSINESS DAYS....this give already something like 400 tons.....being sold just by a little tiny bank an average US citizen never heard, since such an average US citizen can even not make the real difference between Switzerland and Sweden....well at least most of them know...its not in the United States of America...(hopefully!).... Ok what is so special about this little tiny ZKB: well they have an ETF on Gold...the only ETF by the way which is not only physically backed by Gold....NO NO NO...if you have such ETF's you can excercise them and you get real, real physical Gold....not like with COMEX which tries to convince you that physical Gold exercise is something bad....one shouldn't do..! Hey you know the best, there is now another little Swiss private bank which will just do the same....another ETF with real physical Gold backing and if one exercises he/she gets real physical gold.... So, if you can't get physical Gold in the US. There are two excellent banks, which don't need rescue-money, without loosing money playing around and loosing money in the so-called sub-prime-debt (in Europe sub-prime-debt-people are normally called homeless!), no CDS no nothing tihsllub-positions. You can trust them! Cheers, silverman Last edited by silverman; 10-21-2008 at 12:39 AM. |
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10-23-2008, 05:15 AM | #18 |
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Re: Why Gold Is Dropping When It Shouldn't (by Alex Wallenwein)
I wasn't comparing, I was contrasting.
My point was to show (1) that in Asian countries people are close to having gold as a monetary standard. If the global economy crashed and paper money, ATM cards, credit cards became useless, people in Asian countries would be able to cope. Also (2), I was indicating that there was no shortages of physical gold around here. Always refreshing to have another perspective don't you think? "expendable wealth for the average person there is about what a homeless person here is." Hee hee, you're funny. |
10-23-2008, 01:40 PM | #19 |
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Re: Why Gold Is Dropping When It Shouldn't (by Alex Wallenwein)
Where I live in Vietnam, gold plays a similar role to what Shokdee describes in Thailand. Gold shops are everywhere selling in units from 0.12 ounces (this is called a "chi" in Vietnamese) up to 1.2 oz. bars.
Seriously, anyone wishing to acquire a moderate amount of gold might just want to travel to Southeast Asia for vacation and buy some gold. I believe anyone can walk out of Vietnam carrying $10,000 in gold, no questions asked. Gold here sells for around 10% over the international spot price (currently it's around $105 per chi), just because after years of warfare people have have learned to distrust paper currency and thus they are willing to pay a premium for "real money". So, you could easily fly out of the country with 12-13 ounces. Once you factor in the planet ticket, you've probably spent 20-25% above spot price for your purchase. But then again, a net price of $900 per ounce may seem very small by 2010. |
10-23-2008, 09:35 PM | #20 |
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Re: Why Gold Is Dropping When It Shouldn't (by Alex Wallenwein)
gold is selling at an alltime high in other foreign currencies. it is priced relatively low in us dollars because the dollar is artificially pumped up. that is why there is a run on gold here. if you devalued the dollar to where it was in march, gold would be about $1200. if it was $1200 then there probably would not be the demand for it in the us. that explains some of the shortage. there are not equal supplies of commodities to match consumption all over the world so invariably there will be times when there are shortages geographically even when there is an abundance elsewhere. bananas are cheap and plentiful in south america but sometimes the stores in the us run out.
Namaste' |
10-24-2008, 09:22 AM | #21 |
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Re: Why Gold Is Dropping When It Shouldn't (by Alex Wallenwein)
If things crash, Gold will be useless for a while.
My grandpa remembers people giving him Gold Rings for Chickens in Greece in 1930's. |
10-24-2008, 10:16 AM | #22 |
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Re: Why Gold Is Dropping When It Shouldn't (by Alex Wallenwein)
Around here we have plentiful bananas too. Seriously, anyone desperate for physical gold just send me the money and I'll buy it for you. As the price of gold rises, people in Thailand sell off the jewelery they bought when the price was low. So the higher the price goes, the more comes back to the shops and stocks go up. On the other hand, if the price drops, then people with spare cash buy whatever they can afford. It's a very sensible system. "My grandpa remembers people giving him Gold Rings for Chickens in Greece in 1930's". Thanks for that info. Confirms what I wrote earlier about using rings, individual links from necklaces, etc as currency. Having a stash of KrugerRands or some bars might not be that practical if the financial system crashes. |
10-24-2008, 11:02 AM | #23 | |
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Re: Why Gold Is Dropping When It Shouldn't (by Alex Wallenwein)
Quote:
For those of us in the UK I guess this is all a little bewildering. The USD price of gold is dropping but so is the pound against the dollar so gold is actually going up now from 446 (london fix) to 451 today - so its more or less holding its value. My question is that with the inflation expected in both the US and the UK, say the price of Gold in US will go up to $1200, so what about the currency differentials. If the USD collapses the gold will rise to $1200 - but surely if the USD collapases then so will every other currency? Actually looks like the pound is collapsing before the USD - from 1.71-1.51 this week. There is alot of advice here to buy gold, but that seems now to have been directed at the US citizens. What would the advice be for those of us in the UK? I am just trying to get my head around it. Are there any forums like this one that are UK centric? Thanks, t. |
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10-26-2008, 03:13 AM | #24 |
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Re: Why Gold Is Dropping When It Shouldn't (by Alex Wallenwein)
relatively speaking, purchasing gold should be to preserve wealth, not necesarily to make money. if all currencies go down, then the relative value of gold will be the same. in 1920 when gold was $20 per ounce, it took about 25 ounces to buy a new ford, today at $800 per ounce, it takes about 25 ounces to buy a new ford. right now the price of paper gold is somewhat deflated for 2 reasons. first is that gold's price fluctuates on a yearly cycle and gold tends to go down in october and early november. it increases in price in late november. second, the dollar is being artificially pumped up for several reasons, but it will only be temporary. once the inflation factor kicks in from all the us dollars being printed, then the dollar will fall like a brick, inflation will take off and gold will rise to new highs.
Namaste' |
10-26-2008, 04:51 AM | #25 |
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Re: Why Gold Is Dropping When It Shouldn't (by Alex Wallenwein)
Not sure I see a pattern of gold increasing from October to November. Perhaps in the last 6 years that is true.
http://goldinfo.net/londongold.html |
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