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fb101
Administrator
USA
2856 Posts |
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
 Posted - 07/23/2008 : 14:42:55
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"Prices skirted a low of $920 during Wednesday NY session, and threatened to take the metal back to the high $800's if the pattern continues."
Chartwise I agree with the above, but that guy is mixing too many commodities up in the same basket. Notice how he brings up jewelery demand when he talks about POG. POG is not about jewelery and it is not an ordinary commodity. It is a currency that should be weighed against and compared to the returns made on other currencies.
And to that effect, nothing fundamental has changed to make the dollar more desirable and to make gold less desirable. If anything, fundamentals are pointing towards higher gold. Freddie/Fannie being bailed out is good for gold and bad for the dollar. Paulson and others jawboning about a strong dollar policy is meaningless.
Now if they actually start raising interest rates that would be a different story, but keep in mind that they would have to raise rates to 8+ percent just to break even with inflation and give people a reason to move out of gold and back into the dollar. |
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Cody8404
Penny Hoarding Member
USA
602 Posts |
Posted - 07/23/2008 : 16:50:55
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This sounds like most of the financial news folks.
Monday -- Stock Market up, interest rates down, oil down, gold down, the commentators say, “The world is great and everything is bliss.”
Tuesday – Stock Market down, interest rates up, oil up, gold up, the commentators say, “The world is coming to an end prepare for Armageddon.”
It really amazes me just how quickly they change their tunes. Personally I think these wild swings are preparing for a large drop in the markets and rise in commodities.
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Awake, O kings of the earth! Come ye, O, come ye, with your gold and your silver, to the help of my people, to the house of the daughters of Zion, to the help of the people of the God of this Land even Jesus Christ. |
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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
Posted - 07/23/2008 : 16:58:10
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Prior commentaries from Mr. Nadler have been bearish towards precious metals, at least that is how I have been reading them.
A quote from the above mentioned story-
"Oil declined as the U.S. government reported a weekly gain in inventories of gasoline and distillate fuels, which include heating oil and diesel. Gasoline supplies increased 2.85 million barrels to 217.1 million barrels in the week ended July 18, the Energy Department reported. Inventories of distillate fuels rose 2.42 million barrels to 128.1 million, the department said in its weekly report."
How very convienient that oil inventories have increased while downplaying (or ignoring) the fact that oil consumption has decreased due to higher gas and diesel prices.
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Nickelless
Administrator
USA
5580 Posts |
Posted - 07/24/2008 : 02:13:20
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quote:
Originally posted by horgad
"Prices skirted a low of $920 during Wednesday NY session, and threatened to take the metal back to the high $800's if the pattern continues."
Chartwise I agree with the above, but that guy is mixing too many commodities up in the same basket. Notice how he brings up jewelery demand when he talks about POG. POG is not about jewelery and it is not an ordinary commodity. It is a currency that should be weighed against and compared to the returns made on other currencies.
And to that effect, nothing fundamental has changed to make the dollar more desirable and to make gold less desirable. If anything, fundamentals are pointing towards higher gold. Freddie/Fannie being bailed out is good for gold and bad for the dollar. Paulson and others jawboning about a strong dollar policy is meaningless.
Now if they actually start raising interest rates that would be a different story, but keep in mind that they would have to raise rates to 8+ percent just to break even with inflation and give people a reason to move out of gold and back into the dollar.
It's even more basic than that. If financial talking heads really started educating the masses about the valueless, empty fiat system, we would have civil war in no time if people really understood that their money is backed by faith in the U.S. government and nothing more. Better to start a grass-roots campaign to educate people on how to survive after the inevitable crash, whenever it comes. There's no amount of tinkering or window dressing that Paulson or Bernanke or anyone else can do to give retroactive value to the fiat system. The least-worst thing that can be done is to slowly but surely prepare people for the crash so that when it happens, they will both understand in retrospect why it happened and can understand where things can and/or should go after the dollar dies and the rebuilding starts.
In the meantime, hoard as much as you can, while you can, and don't listen to the talking heads who are advocating for the fiat system. We know more than they do, not because we're more educated, but because we aren't in denial about the futility of the fiat system. |
Visit my new preparedness site: Preparedness.cc/SurvivalPrep.net
--Latest article: Stocking up on spices to keep food preps lively
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Be prepared...and prepared to help: http://www.survivalblog.com/charity.html
Are you ready spiritually for hard times? http://www.jesusfreak.com/rapture.asp |
Edited by - Nickelless on 07/24/2008 02:19:19 |
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daviscfad
1000+ Penny Miser Member
USA
1664 Posts |
Posted - 07/24/2008 : 17:10:10
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quote:
In the meantime, hoard as much as you can, while you can, and don't listen to the talking heads who are advocating for the fiat system.
I agree with that.
so what if gold or silver or platinum or palladium fall in price. personally i hope the do fall some more so i can hoard up b/c it will go back up again. Gold will always be gold. One day the fed will be no more and your paper dollar will be no good. I wouldn't let the big guys talk you out of hoarding gold and other precious metals. You might not make as much money as quick off of it as you might the stock market but i consider it safer b/c of what it is
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 07/24/2008 : 22:21:13
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quote:
I agree with that.
so what if gold or silver or platinum or palladium fall in price. personally i hope the do fall some more so i can hoard up b/c it will go back up again. Gold will always be gold. One day the fed will be no more and your paper dollar will be no good. I wouldn't let the big guys talk you out of hoarding gold and other precious metals. You might not make as much money as quick off of it as you might the stock market but i consider it safer b/c of what it is
Yep it will have its up and downs, especially during the slow summer season but many experts seem to predict silver hitting somewhere around $25-$26 per ounce later this year, early next year. I am holding onto my measley hoard for the long haul regardless. |
My hobby: collecting real money 1 copper cent or nickel at a time.
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Bearish story on PM
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