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Gold, Silver Surge After John Taylor Predicts Gold To Hit $1,900 By October
In the past few minutes both gold and silver have seen a dramatic rally of buying on seemingly no news. The reason for this rally are remarks from a Bloomberg TV interview with FX Concepts' John Taylor, who just predicted that Gold will extend its rally to $1,900 by October, or in three months, coupled with a rally in the Assuie and Loonie as the EU debt crisis eases. But not for long: this record price will be promptly followed by a plunge down to $1,100 following liquidations as the latest and greatest recession grips the world, which he believes will be worse than the 2008 one due to the US running out of "gimmicks" to avert a slowdown. He believes the EU will slow as well, and the euro will drop to $1.15, and may hit parity next year (not a new call for Taylor).
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Creditors decide what debtors need.
JP Morgan now accepts gold as collateral as does the European Parliament.
++
(I bet you already knew that that was exactly where I was going with my comment, you sly dog you.)
Adding to it: Smart creditors like to have as little counterparty risk as possible in their repayments, especially when they have some of their own they need to cover.
midtowng,
People actually did that then.THEN being the operative word.
This time, I do not see people running to pay on their DEBT.
I will wait for a real knowledgable fellow to hopefully comment on this........like Jim Sinclair.
I kind of remember in 2011 when gold climbed in price during times of fear. Does that mean anything?
I agree with pleasus....In 2008 sheeple still had faith in fiat currency. Next time, I would think, would be a flight to safety in PMs. Cash for debts? I hope people are smarter than that...which will just lead to bankruptcy anyway... Smart people will default and hoard PMs, i say...But what the hell do I know? I'll tell you one thing I know...I don't want their f*ucking paper...
There are still plenty of sheeple, in the financial world and outside it, and most of them will still be sheeple when this episode rolls around.
Some smart people may default and hoard PMs as you say, but that won't be near the majority. The majority isn't even smart, let alone "aware".
Stay your course, but know the world will develop according to their thought processes for a good while longer (many years). The sheeple are a stubborn donkey. They need to be beaten between the eyes with a proverbial 2x4 MANY more times before they change their thinking.
Can't be, Rob Prechter was predicting Gold would be flat on the floor now
Elliott Wave have been predicting the PM's would crash all 2010 and 2011 and bugger me if they're not all rising
EW's Steve Hochberg said Silver would be diving at $20 this month, and it's at $40 and rising
...but they've had Elliott Waves 'scientifically validated'? ...maybe they use the same scientific frauds as Govts climate change crones
Those Elliott Waves must be right, it's reality that's wrong.. or Elliott Wave and Rob Prechter are delusional pinheaded morons maybe, just a thought!
Martin Armstrong called for $1100 Au for June 13/14. he suggested that this correction was essential for the healthy continuance of the gold bull market. he also stated that if the correction did not occur, the severity of the eventual correction was be proportional to its delay and remained inevitable. never say never.
Yardfarmer
so what you're saying is Alf Fields knows how to make Elliott Waves work (although i hear Elliott himself died poor!!!) but Rob Prechter who has promoted this sham system cannot (i have well over a years experience Prechter and his delusional team are so fuking wrong all the time it's beyond a sad joke)
Another Elliotician (Idiotician), SidEW, claimed Prechter mis-interpreted the waves because of his overly-Bearish mind-set which is why he was completely and utterly wrong every month, and his side-kick Steve Hochberg was wrong every week, throughout 2010.
So both you and SidEW are confirming the Elliott Waves can be 'interpreted' in different ways. This is not therefore a science, this is a quack VooDoo pot-luck technique because a working technique would not be open to emotional bias.
E=MCx2 is not open to "emotional bias". It is science fact, not something you can (mis)interperet differently according to your mood swings
Prechters goons have claimed to me their EW's are "scientifically validated". 2010 was proof beyond all scientific doubt EW are much, much worse than a 50/50 coin toss (pure luck). Wrong on the US Indexes, wrong on PM's, wrong on the US Dixie and wrong on Euro/USD
2010 proved without shadow for doubt or debate Elliott Waves are completely incompetent at predicting any Index, the failure rate was in excess of 90% fails. Prechter is either completely delusional and seriously needs to see a Doctor or a complete fraud and needs the Police sent in to keep him peddling anymore of his patent junk
If your talking theory of relativity.. then its E=mc^2 and even that breaks down with singularities.. though I'm not a physisist.. I only play one on the internets..
I think Armstrong was making a point more that there needs to be corrections before rises. He believes that if gold goes parabolic the S has already HTF.
actually, Alf Fields has had considerable success predicting the price of gold using Elliot Wave with results diametrically opposed to Prechter's notable flops. generally though prediction is by its nature unpredictable.
Robert Prechter has been wrong on the majority of his calls for 2010 and 2011. Take his advice with a grain of salt.
Prechter has been predicting a top in gold since the POG was $300. He called tops in gold at every major correction. He's a joke, and anyone who listens to him has lost a lot of money on PM's (although they made money on bonds).
I don't know about anyone else, but all of these people are relying on models that were implemented long before any of this happened. The market has gone fundamentally insane, yet all of the talking heads are still pushing the same old theory based on the same old model, and da shit don't work no mo.
PM's are going up because this 100 year fiat cycle is coming to an end.
At's all it is.
Exactly.
Elliot Wave analysis might work in an environment where the creation of money is reasonable constrained, and where markets can do their thing relatively unmolested. That ain't what we got now.
Prechter himself admits that Elliott Wave Theory is based on the premise that human beings invest based on sentiment, and the stock market is an especially good place to see that sentiment reflected.
Now if the markets are to any significant degree manipulated for political reasons, as we have seen over the last several years, doesn't that completely invalidate EWT? Because this market reflects Ben Bernanke's policy, not investor sentiment.
Prechter's game is to have dozens of newsletters, subscriptions, and interviews, and then pick among the hundreds of vague predictions to show some sort of successful track record. His EWT system has some merit It's based on Dow Theory), but the numerous exceptions to the rules in the form of extensions etc. make it utterly worthless to trade, impossible to prove wrong, and dishonest in hindsight.Prechter's arguments assume the currency cannot be destroyed, but our observations prove that is a foolish assumption.
Prechter will utterly ruin his hapless subscribers because they can't think for themselves.
He said October is the shit.
So did that nutty preacher (re: the Rapture)... Of course ONLY after he predicted May & it didn't happen because apparently his 'math' was off...
I've got to give kudos to our friend RoboTrader here... At least he stics to predicting yesterday most of the time...
it isnt stopping at 1900 no matter which trader clown says so.
terrific interview. very transparent.
dear zerohedge, why cant you say or post anything about bohemian grove?
because it doesn't exist...
because its not news
Because that is where we are all hiding.
Sorry..I lost a little respect for this guy. He contradicted himself 4 times in this interview. And his past calls have not been very accurate. I guess he is as clueless as everyone else!
WHEN EVERYONE THINKS ALIKE, THERE ISN'T MUCH THINKING TAKING
Listen Taylor, FED and USD Are going into INFINITE Printing Mode.
Euro is a basket case.
Aussie and Loonie and Swissie good butt all to small market caps.
GOLD is the GoTo financial asset for the next 10years+.
Who cares what it does month to month... Just accumulate on the dips, like Sprott and others.
PS... I clearly remember all the MBA CFA Analysts Calling to short the hell out of Gold at 300. to 330. Where are these fecks now???
1100 is not out of line with a normal percentage correction in commodities or stocks.
The moves in Gold look very possible on both ends, but time period may be in doubt. That is always the tough call.
His point is that in the upcoming collapse, most everything will go down.
(Most likely imput to the collapse, oil, commodity prices squeezing the derivatives. imho. With help from the Tea Party.)
During its past ten-year bull market run, gold has never had a melt-up as John Taylor predicts -- and I doubt it will. Those of us who have been long gold over this period are pretty familar with the drill -- gold takes three steps forward and 2.46 steps back. The only way I see gold making a melt-up move is if the mob decides to take back the government for awhile and tosses out the powers that be. Ultimately, it's the mob that rules and governments merely serve at the pleasure of the mob.
That same "mob" has had 11 years to see what is happening with POG and they still haven't moved. 1% of investment in PMs. The mob would more likely go after anyone that had the foresight into PMs that they didn't. The mob that has been wrong is 99% of the U.S. and they still want their CDs, IRAs, 401ks and Mortgages instead.
The Ignorati "think" FRNs are Dollars, and IT JUST AIN'T SO!
During the past ten years, the government still had bidders for its debt, hadn't reached critical mass in that debt, and the dollar still had at least some value. I wouldn't put too much reliance on short term history (post WWII period) to predict what is coming.
In my mind, from the EUR and USD pair, the EUR is the better currency. At least you have a CB that tries to hike rates and defend the currency and a country (Germany) that wants the currency strong. They may fail in their efforts but in the US you have nobody and I mean absolutely nobody interested in strong dollar + US has a large external debt and paying the foreigners is always the last thing you want to do. The weak dollar policy will rule the day. Not sure how they can reconcile this with ''we want lower oil'' strategy but in the mess we are in, you can't possibly have perfect solutions.
On his gold prediction, I can only say that it sounds total crap. This is basically momentum trading (on the upside). In reality, $1900 gold in 3 months is unlikely (possible but unlikely). However, the really good one is the $1100 gold. Good luck there. Would love to buy some there but this is mega unlikely, unless the FED starts selling the US gold reserves but I doubt that as the bars are not likely to meet the ''good delivery'' standard. They may hit Comex and paper gold - this is possible but most likely only if prices go even higher.
Apparently he's never heard of the Bernank's money machine. Fail.
big agq volume about 20 second before this new spike. couldn't enter in on time, $4 up in seconds.
So Mr. Taylor can now predict world price and demand for Gold based upon what the clowns in DC do? Laughable!
Isn't that what we all are doing? I mean, it isn't like I bought gold because of the demand for indestructable urinals.
I'd say the only difference is he's playing the fool's game of short-term market timing, which IMO, is only worthwhile if you are in on the fix (or creating the fix, as I believe Taylor to be doing).
Not entirely-
I'm buying silver, not gold, as a four-fold hedge.
First, it trends with gold, even though it is more volitile, and gold is in a picture-perfect bull market based on the long-term charts. It's a solid investment even if we slog through this mess without any big SHTF incidents, and even better if we do hit hyperinflation.
Second, it is a critical component in missiles, good as a resale investment in the case of modern world war. This was not the case in WWII, so no saying "but" and pointing at war nickels. Even if it is held *through* a world war, it will have meant that all kinds of silver has been blown into tiny molten fragments, and it unlikely to be recovered quickly, if at all.
Third, I have no idea if "peak oil" is real or engineered (abiotic oil sounds plausible as well,) but it is the case that silver is used in solar cells, and peak oil does not have to be real, if it is believed. We also have POTUS stumping for solar, stupid or no.
Fourth is technology- there are some consumer items you just must have silver for, especially if you are making delicious and nutritious foodstuffs like cell phones and iPads. They don't get smaller by switching back to copper, and added resistance does not exactly improve battery life. That silver is expensive to recover, and I suspect a lot of it ends up in the landfills. It's a tiny amount in each device, but people are nuts about getting the latest and greatest new toy, even if they don't need it- after a while, it will add up, if it isn't already.
So, only 50% of it is about the Washington circus- the rest is about a projection of increasing scarcity coupled with a growing population. It can only go up in the long term, no matter which way the chips fall.
All in all, I tend to agree with the gold is good line here- but I do vary a bit in that I have neither need nor desire to have a big box o' gold hidden away in perpetuity. Not sure what the point of that is, but if it makes you feel better, I guess it's your money. It's just an asset that I can spend at leisure- without getting snapped up into the hot money flow when inflation ramps up.
I don't keep boxes of paper cash around when times are good, either- unless I'm saving for something specific. Just saying.
Maybe this will be the scenario. It is looking like it more and more as each day passes. Gold higher than that $1900?
http://www.youtube.com/watch?v=2N8gJSMoOJc
Jim Sinclair has called this to a "T".
NO ONE believed him on $1,650.00......a year ago, and we are knocking on that door.
He has stated the next point to hone in on, is not $1600.00, or $1650.00,but $1,764.00, and then.........it's into upper five digits.
+ the usual $55,000
I am fairly new to all this, but it sounds to me like this guy has a poor grasp of the situation. Either that or he's full of shit.
It always baffles me how douchebags like this get any airtime at all.
Pumping the status quo, I 'spose
He is right about gold going up, but wrong about gold going back to 1100.
I didn't mean so much with price of gold. Surely, gold will soar. Will it drop that far? Seems low.
I was more referring to his stance on the dollar and printing and what effect that will have and really, all that's going on here and across the pond.
Out of touch. Lost in a daze. Head in the clouds. He's all over the place.
Sounds to me like he just wants to keep the ponzi scheme going.
FX Concepts is a big FX dealer. Taylor saying that fiat will collapse would be like Apple or Microsoft saying computers are worthless.
Of course he's part of the ponzi he's swimming in it.
There will be another liquidation event where capital needs to be raised at all costs. Gold and silver will be temporarily pushed down, but that will present a great buying opportunity.
"I am fairly new to all this, but it sounds to me like this guy has a poor grasp of the situation. Either that or he's full of shit."
Both!
Do you (John) have to fucking tell everybody? I was just setting up an account to buy gold...
One thing I fail to understand is that why most analysts are recommending the purchase of Gold as a safe investment? The problem today is that the price of Gold is not derived by it's physical demand or supply but more by the speculative positions standing long or short on the commodity exchange like any other traded commodity, stock or currency.
The basic mechanism of price discovery (based on demand and supply for actual use) of anything traded on an exchange has been terminally infected by speculators having access to unlimited funds and super fast computers for trading leading to volatile price swings. This has been made worse by the launch of ETFs for anything and everything under the sun by the financial community.
The price of everything including Gold is likely to suffer when the speculators unwind their positions due to some event that they have not anticipated or foreseen.
http://www.marketoracle.co.uk/Article24581.html
Gold, at this point, is NOT an investment. It's a wealth insurance policy!
I listened to this twice. Where does he say $1,100 for gold? I certainly heard $1900 in October.
Is it just me? I'd hate to think I have selective hearing!
You're not alone, when did he make a prediction on a gold collapse?
Didnt hear it.
"gold ... plunge down to $1,100"
People will want fiat paper USD again ? Give me a break.
Banks got a taste of their own medicine, collateral. The banking powers that be know that they cannot keep real estate values artificially propped up much longer. Oh well,(says the banker)fuck those real estate loan values! We have GOLD-bitches! Carry on now.
John Taylor may be half right. The up, not the down.
Davies, Turk, Hathaway, Sinclair, Schiff, among others, are calling for a big move in gold (& silver) to around $2000/oz (USD) by the end of the year.
But none of these guys that I am aware of are calling for Taylor's gold crash. They cite global demand, PM short squeeze, growing fiat wariness by investor classes, and decades of gold price suppression already still cooked into the price of gold. Seems the market is still in the long process of correcting gold to the upside.
And Sinclair says $1754 gold is a very pivotal price point that will make gold $5000 a cinch. I'm still wondering why he picked $1754 as technically significant -- anybody know?
BTW, Jim Sinclair is the guy who made the amazing call for $1630 gold for 2011 --- amazing because he made that call over ten years ago, in 2001.
Au/Ag might drop in $USD terms once the bombs start to fly, but once grass is growing in the bomb craters is the time to be spending it.
I'm hearing a lot of sound bites from this guy. He appears to be someone who is not use to being questioned. He also comes across as a Democrat.
Great thinking is rooted in political agnosticism.
All i have to add is that after listening to Dennis Gartman's 30 sec appearances on CNBC lately i conclude he really is a chump or very good at spoof.
Gartman is a cnbc celebrity(lying thief). Enough said
Quite.
When he says "you know ive been long Gold forever but now its frothy" what he really means is "i bought gold at 1100 and sold it at 1200 and got back in at 1450 and now think you should sell it at 1600 " meanwhile gold will just keep grinding up and he will jump back in at 1700. Missing Alpha all the time.
Idiot.
If you have to, tie a ribbon around your schnitzel so that you can remember that JP Morgue/Goldman etc are proxies for the GOV, and Occidental Anglo global banking cartel. They HAVE MORE POWER THAN ANY OF US GIVE THEM CREDIT. In a perverse way, give thanks that they have the power to push out the ponzi further, because it dishes out opportunity to those with eyes, willing hands, and adequate fiat reserves.
IT is very hard to not want the system to burn a fiery death, to obtain the justice you seek, satisfy the need for the conman to to get shanked, revel in the partially displaced righteous desire to see retribution against the fraud, lies, and the sense that you've been made a fool. It's interesting to see yourself want to cover up the shame you feel for being a sucker (I do), and for being a greed blinded participant of this usurious system (only some of us here, but definitely including myself here). It's breaking down but not in the way you envision it. This B movie will hopefully stretch out for years. The collapse, if to occur now is NOT what you want to occur. Be advised that the extended duration, that long painful wind-down is providing a banquet of opportunity... not just to preserve purchasing power and rewards of your labor (or complicity or theft... whatever happens to be your case) in a portable storage medium, but it is also allowing you the time to reposition your 'physical' AU/AG and your physical body (including your family members) to new geographical locations. Without this, if you happen to be in the 'wrong' country, you will then understand how all your efforts are then literally taken away, either by direct implicit confiscation, or, indirect regulatory confiscation (90% taxes, etc). Understand that totalitarianism is on its way, and the crescendo of its entrance is correlated to the speed of the populations perspective waking up regarding the essential nature of gold, as well as the continued ability of the COMEX manipulators to slow the death of the fiat system. Stop deluding yourselves, unroll that notion that the citizenry of your country will stand up straight, force their crooked spine erect, and fight back in any meaningful way. The big stick, the electric prod, the totalitarian God is growing and there is NO stopping it. Nothing is forever though... all hail the cycle! Let's invoke the powers of our own preservation and insist that our past wishes are not granted.
Still enamored by the ponzi... yours truly, Hook line and Sphincter
Really good post Hook. I think you may enjoy the 3 page article I posted immediately above yours. Check it out.
Yes, be thankful for the time to be able to do prep work. Use it for what it is.
It will collapse because of mathematical reasons on it's own.
Money can be slave girls?! In some instances, I'm alright with that.
Agree that authoritarian changes are afoot and the exits have been closing for several years.
As Milton Friedman said, our best hope may be that totalitarianism is very expensive to maintain and tends to collapse on their own too. Control of food and energy will be key to outlasting it.
I would highly recommend all those interested in Gold an Silver (and the mythical Gold Standard)
to read Martin Armstrongs latest.
Gold vs Money
http://www.martinarmstrong.org/files/Gold%20v%20Money%2007-19-2011.pdf
I am a Au/Ag advocate, but understanding what it IS and what it is Not is very important.
It is NOT a Hedge against Inflation per se, it is a Hedge against GOVERMENT.
Martin's other recent works.
http://www.martinarmstrong.org
We had better be careful what we wish for. Pay particular attention to page 3.
Good article on the foolishness of a gold standard, though someone may want to tell Martin it was "Coxey's Army".
this analysts has great charts as of last friday Kitco - Commentaries - Warren Bevan
on his gold chart, the price performance reflected in the dance with the 4 colored moving averages [short (13 day) to long term (200 day)] is a bull chart suitable for framing. with mon & tues in the books and working on wed, gold went niceley above 1600, back to the 1580 range and is now @ 9196+.
the silver chart is more chaotic, but look at the horizontal red lines, and (if we accept them) the one @ $39.08 is in play, now. the dojo mojo closed above the red line in fri and the momo mojo kicked in on monday, well above 40, and now, after trading below 38.50 is @ 39.57.
one could almost overlay a "w" on silver, now past, at lower price.
so far, with the new highz in gold and the higher ratchet in silver, over 39.08, the price in fiat is climbing. again. if things continue to hold, which looks probable, here.
so, that the "technical" stuff. why do prices behave this way? my new theory is that all the nations and conglomernationz which have imported Disney & Disneyland have taken us to fantasyland, where the leaders are now behind the curtain, calmly deciding how to get the most they can out of us for their styoooopid damned mistakes and criminal designs. calmly? LOL!
Slewie, would love to smell the sweet fragrance of your speculation on the probable reactions from the GOV at the time of a publicly recognized COMEX default (regardless of the notion that a technical default has already occurred).
that gold price shld be 1596. it keeps changing!
i think they have a published plan, but i may have dreamed it.
so, this is hearsay, based on something i read a while back by somebody who seemed to know about this stuff, but i can't remember who, which is proably a good thing.
if they can't cover their shorts in phys = force majeure, which lQQks like in the french, it's feminine...
so, they settle in fiat. fair and square. a'la offenbach.
In my opinion there is a stong possibility that a perspective paradigm shift could occur. that is...
Fiat is considered and stated as fractional values of AU and AG.
Here, the ponzi is french kissing distance to its closure. This, is not an ideal scenario, as who wouldn't want years more of opportunity. At the rate (assuming a consistent draw down of dealer silver based on reductions in the past year) we have approximately 8 months left to reduce 26.74 million oz in the dealer inventory to 0. This will precipitate the iron fist of gov fiat protection to appear.
In love with my fiat, don't you f'n look at my girlfriend! Hook line and Sphincter
re GOV, i think these are CFTC-approved real paper rules. so GOV might owe them some money for trying to suppress the price for GOV and getting hoZed. again. but i don't think there wld be much in public.
the silver price is the price at which you can buy actual silver for green stamps, plus dealing with the seller, if a professional bullion trader.
the stories of people bringing in the sterling for $45-50/ oz are getting apocryphal. so how could banks not be able to buy silver, unless the price increases were due to, say, inflation, and people just refused to sell b/c they understood its value in a world of international cartels based on the shell game, the ponzi, and the papier?
so, da boyz set the price in the markets they "control"? hey, one is welcome to go join them and straighten them out. the hunt broz.
this time, we have a bigger, more de-centralized community of insane buyers trying to escape the vast blanket of fiat snow to come.
Well, the silver prices are being actively manipulated by banks to keep them artificially low. Same with gold, but they have a much smaller impact on the gold market. If they ever stop the manipulation, the prices will shoot up an incredible amount.
This was not an impressive interview. Very hard to understand his conclusions given the facts he cites seem to contradict them.
There is one glaring omission from his analysis; energy and what impact that will have on everything.....and it will have quite an impact.
If gold is worth $1100 an ounce, then that means the dollar is worth a thousandth of a cent. In other words, nothing.
Any large drop in the POG would be met by monster buying from Asian investors and CBs. They can easily absorb lots of it with their reserves. They're just waiting for such a drop. They weren't in 2008.
+ $1595
Yes, remember when India bought at $1040 (near the record high at the time) some two years ago.
Big drop in gold's price will have not Aisan byuers swarming all over whatever physical gold is left.
liquidations for what? worthless currency paper? I think not.
DING DING DING ! We have a WINNAH!
No kidding. The whole point of having gold is to NOT be in paper currency.
Happy to take this piece and spike from JT but I gleen no great insight here. For PM advice, I stick with Jim Sinclair, James Turk, Eric Sprott, Rick Rule, James Dines, John Embry, John Hathaway, Bob Chapman, Jeff Nielson, and last but not least, Max Keiser.
This All Star Team of unpaid PM advisors have all my bases covered. The only thing better than their advice and performance has been the price :-)
Martin Armstrong either missed this or he is not aware, in regard to The Wonderful Wizard of Oz, the author Frank Baum wrote about Dorothy's Silver Slippers, not Ruby Slippers. Only through the cooperative deception by gooberment and the banksters were her slippers changes early in the 20 century. Some things never change...
You pumpers and stupid spawn of stupid parents make me laugh
We told you to watch 50 buck silver and take profits and you called us idiots. We sold at 49 and promptly watched as your leveraged silver play sent you to the fucking poorhouse whre you had to borrow money from your hooker girlfriend to pay the rent for the basements you clearly live in.
Yet we also said that silver would rebound and it is now,
Here is guy at least a 1000 times fucking smarter than you fucking goofs and you flame him again.
Are you really that fucking stupid?
You clearly hold about 2 ounces of silver and 1/10 of an ounce of gold cuase you sold your silver at 32 which you bought at 49 otherwise you would take this guys opinion seriously.
But please feel free to have your fucking head handed to you AGAIN! on a silver platter. No pun intended.
Get the fuck out of your parents basement and learn or you will be the last fucking fish in the room
again
Yes gold is going somewhere near his call and yes it will fucking crash because the banksters are planning amonster takeout of you idiots.
Armstrong is saying the same thing so educate yourselves before you open your yap.
It has not tested the 144 MA for a long long time and it will the further the deviation the harder the crash. That is how this cycle is working.
That is until the banksters fuck you over - and they are about to
Wishing will not save you, use your goddamned brain or change and listen.
people who trade against the banksters using leverage often get destroyed, but it is still very difficult to tell the future.
people who opened leveraged long @ 50 without tight stops lost money. we know. we thank you for warning them & a good i told you so.
and these great "planners" want to execute this plan because...??? they want the silver at a lower price. just like anyone else with money. many experienced silver traders have been really bearish here, since "the blow-out" but they may have missed "the dip" too, eh?
if we have a deflationary collapse of the wonderful worldwide credit bubble from the "advanced" nations, these PM prices might suffer. like just about everything else, but not so bad, one would hope, as things less traditional, or of paper made.
PM's & cash. if one has prairie lands, wheat, cattle, and horses, too...+++ & say hi to the horses for me!
Your post suddenly reminded me about the story of the silver monkeys at the COMEX village.
If you want to count your savings in ounces you are fine; prices float a lot in silver market.
In my opinion silver is a good investment for the medium and long term.
Playing games with the paper value of silver will only get you burned.
NOOOOO fiscal union, get lost you superstate fascist junkies
what goes around comes around, banksters, in time will receive there's as well.
1,900 dollars would be overbought. I would say 1,600 dollars by end of the year. I doubt gold will continue to climb 300+ dollars in three months unfettered, or such a parabolic trend. Silver is understandable, because it's a much smaller market, low liquidity market, and a industrial metal, which is more volatile to speculatory movements, but gold I doubt that. Only scarcy events can do that in the short term. I think the debt ceiling will increase I am pretty sure of that. I don't get the markets will got 300 bucks in 3 months, corrections would prevent that before it hits anywhere near 1,900 dollars.
You type and sound like a trader (not that there's anything wrong with that!), but do you buy & sell your homeowner's/life insurance policies? Why then, are you speculating about the $FRNs/Toz of Wealth Insurance that Aurum represents?
I think the idea is that:
-There's a fake solution to US and Greek debt that sustains during a low volume summer
-Possible implosion of debt and therefore currency and a big margin rush to the exits in Fall
-margin call makes gold get thrown out(paper future crap market)
-Gold hits 1100(maybe but maybe not) during the deflationary crash
-Gold rebounds as QE3 comes online to prevent negative GDP and the dollar flooded into the market to save debtors AGAIN
-It's possible, like in March 08, that both dollar and gold race up together(especially if there has been a lot of dollar based derivatives and lent money that needs to be repatriated to settle up.)
-Euro, in my opinion, might have a huge crisis due to insolvency but remember that reneging on the debt takes euros off the market and explodes the 100x dervatives associated with each euro. So the euro, IMO,will have a bad deflationary episode as well. Think of all the euros taken out of circulation if Greece, Spain etc cannot be counted on to pay the debt. Principal and interest explode...
A friend who had an accident and can't drive asked me to take her to a jewelry store yesterday to take in a repair. i told her the place would be chaotic. she disagreed. it was, with people lined up to sell jewelry and silver trays, flatware, anything. i had to sell something recently to pay a debt and who knows why those queueing and curling out the door around the sidewalk were there--some selling because they're behind on the mortgage and others because they think gold and silver have hit the high? i just stood back, observing the flesh and PMs parade.
hey, g_b! these are the folks, who feel they "missed" selling @ 45-50, i think. they probably sat around kicking themselves, saying: "if it gets back to 40, i'll sell, then."
this is economics: individual buy or sell decisions based on price, perspective, and ideas about "money" too, in this case. producers, fabricators/mints, consumers/investors. a tradition, we have now been reminded.
gold now 1600.90; Ag = 40.09
another late bankster dump coming? turn on the fan in there, j.p.!
and speaking of traditions: just read that Bachmann's migraines render her unable to function. qualifies her, i think, for the office.
i wld not recommend tea-bagging a woman with a migraine. but i do not share the values of the political class.
nor do i. my response to both your sentences.
This Taylor guy is just throwing numbers around like countless others before him.
How fresh.
My ignore list is getting overcrowded these days
This man is a joke. Not a shread of statistical data just hisopinion. Lol!
...I was a bit underwhelmed by Mr Taylor's prognostications and analysis.