Tiny Mauritius Tells US To Shove Its Dollar, Buys 2 Metric Tons Of Gold From IMF At $1,115 An Ounce
The latest development in the gold bubble saga, and one which will likely cause the precious metal's price to spike even higher, comes from the tiny island of Mauritius which according to Dow Jones has purchased 2 metric tons of Gold from the IMF for $71.7 million. The price works out to approximately $1,115 per ounce. More as we get it. (and yes, this is a picture of Mauritius not some CNBC anchor hangout).
Some more from Dow Jones:
The International Monetary Fund announced Monday it has sold two tons of gold to the central bank of the Indian Ocean island of Mauritius for nearly $72 million.
The sale came as gold prices surged Monday to an all-time high of $1,136.72 per ounce.
The sale to Mauritius "was conducted on the basis of market prices prevailing on November 11, 2009 with proceeds equivalent to U.S. 71.7 million dollars," the IMF said in a statement.
It was the second such sale by the fund since September, when its executive board authorized the sale of 403.3 tons of gold from its holdings to bolster its finances amid the global economic crisis.
On Nov. 2 it sold 200 tons of gold to the central bank of India for $6.7 billion.
The IMF said it would sell gold directly to central banks and other official holders for an initial period before selling the remaining amount on the open markets "in a phased manner over time."
The Washington-based IMF, which currently holds just over 3,000 tons of gold, is the third-largest official holder of the precious metal after the U.S. and Germany
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on Mon, 11/16/2009 - 22:32
#132575
ok, I'm through with merideth... [edit] Please let me be Fed Chairman of that Asset Bubble, I've got a stimulus package I'd like to inject into the market...
on Mon, 11/16/2009 - 20:19
#132585
This is getting interesting.
BTW, the link above brings you to the CIA "World Factbook" web page for Mauritius. On a lark, I looked to see if the CIA has a listing on the Banana Republic of the United States of America. Bingo, sure does, though under the old name of United States. I thought the CIA wasn't a domestic operation?
https://www.cia.gov/library/publications/the-world-factbook/geos/us.html
on Mon, 11/16/2009 - 20:44
#132624
ha! who do you think murdered john kennedy,
robert kennedy, martin luther king, john lennon,
attempted ronald reagan? to say nothing of who
demolished the wtc in a controlled demolition
using nanothermite....
www.ae911truth.org
on Tue, 11/17/2009 - 13:28
#133387
Nanothermite? What's that?
on Mon, 11/16/2009 - 21:44
#132697
I love the "factbook" !
on Mon, 11/16/2009 - 21:57
#132714
Same here champ.
on Mon, 11/16/2009 - 20:21
#132589
Wait.. Big chested gals in bikinis selling me (gold) investments...
Am I watching CNBC or reading ZH?
Oh I guess since I am receiving accurate information and the big chested gals in bikinis just happen to accompany the article....
Instead of the big chested gals in bikinis distracting me to sell me some worthless investment...
It must be ZH.
on Mon, 11/16/2009 - 20:22
#132590
better do a assay on those bars.....
on Mon, 11/16/2009 - 20:51
#132636
+1
on Tue, 11/17/2009 - 10:14
#133139
Good as tungsten!
on Mon, 11/16/2009 - 20:22
#132593
Pretty nuts.. if they are wrong and are buying at the top of the market. bye bye little island.. some traders will probably buy you... You know kinda like renting a super tanker 2 store physical oil.. ya know creating an artificial shortage.. running up the price of the spot... i think you talked about this last week tyler. ha
on Mon, 11/16/2009 - 20:55
#132641
What's the chance that they could be wrong? I do not see a viable scenario for gold coming down. It seems to me to have very solid support. That which cannot go down must go up.
on Mon, 11/16/2009 - 21:22
#132670
Well let me count the ways you could be wrong since you are in a herd trade and I am long gold but at much lower levels:
1) You were a Southern Cal property buyer in 2005 and put no money down but hey, there is no way to go but up.
2) You loved the Nasdaq at 4000 and even more at 5000 in Mar 2000--because there was no way to go but up.
3) Oil looked like a screaming buy at $148 because there was no way to go but up.
I'll give you a viable scenario:
The stock market starts to tank since the Fed truly does not control it and the bear market rally ends. The dollar hits bottom and the greatest short squeeze of all time starts to take hold in a global de-risk trade. This continues for about a year--say 16 months like the first leg down in the stock market. Deflation truly takes hold even with the printing presses rolling. Gold retraces several hundred dollars as the Chinese, Indians, and every other country buying IMF gold feels a sense of ease that their dollar denominated debt is safe after all. That puts us to sometime in 2011---gold has retraced and languished.
Long term yes--there is support (unlike the tits that Robo posted on the close-up). But anything can happen in the next year and anyone piling in now is playing with the same bunch of sheep that are long the stock market and shorting the dollar. THREE very crowded trades. Can't wait for the squeeze to begin.
on Mon, 11/16/2009 - 21:37
#132684
You know the number of similarities between the three trades you mentioned and gold? ZERO. Also, there's no guarantee that a rising dollar (dxy) will guarantee a falling gold. Just because one toilet paper is rising against some others doesn't mean gold will go down. Ironically, the real bubble right now is in bears.
on Mon, 11/16/2009 - 21:43
#132695
Sorry Gordo, a chart is a chart is a chart. I've never seen something go up that can't come down. Never. Nothing.
on Tue, 11/17/2009 - 02:36
#132936
Ever charted gold in ZWD (or any other defunct currency)?
on Tue, 11/17/2009 - 14:36
#133461
Yea like the Weimer Republic?
http://www.milliondollarbabies.com/GermanTimeline.htm
Check the parabolic behavior of paper/gld.
on Tue, 11/17/2009 - 18:34
#133830
Also check the volume of notes being moved.
on Mon, 11/16/2009 - 21:44
#132698
Cute GG....I have some bubble bath for my daughter in a bear bottle. I always appreciate your input and as I said, I am sitting on lots of coin. I think we can agree to disagree that the moonshot is a matter of timing in which I think is further out than you do. Best of all, we'll both be fine.
BTW, I am glad you answered my post. I am also long a great deal of silver and it is performing poorly until today. What is your position on that metal?
on Mon, 11/16/2009 - 22:13
#132727
Both Gold and Silver are in a bull market, IMHO, and will outperform other commodities even as they rise generally. I do own some silver too - in fact, just bout some this weekend so that may have tipped the price :-)
on Mon, 11/16/2009 - 22:35
#132752
1.25T of MBS, with no end in sight, wtf don't you understand?
on Mon, 11/16/2009 - 21:45
#132699
yeah, dollar denominated debt is safe when the US is running annual $1T deficits. This is absurd nonsense.
secondly, the DXY is a beauty contest between currencies, not as compared to real assets. DXY can go to 200 and gold still hit 3000.
Look, think the scenario through...what does deflation due to debtors? It crushes them. Who is the largest debtor? The US, Japan, and the UK. This is the same duhnoshit argument that got me banned from tickerforum years ago. If the US defaults, the dollar goes to zero.
There is no scenario in which the paper of a bankrupt state is "safe." In fact, it gets less safe in case of deflation. The US has no choice but to devalue, same as we did in 1933! We *cannot* repay our debts, it's as simple as that.
Anyone who thinks the US is not a risk needs to have their head examined.
on Mon, 11/16/2009 - 22:18
#132730
I am long gold so I don't need to have my head examined. And I have coin--bars--none of that ETF stuff. But I can tell you one thing:none of us knows what will happen and when. So chill out.
on Mon, 11/16/2009 - 22:41
#132764
Howie + 100. absolutely spot on. anyone who tells anyone else that something can only go in one direction is a pig. and pigs get slaughtered.
i got out of gold at 980 simply because i had too much company.
de-risking WILL cause gold to contract, probably violently. question is not if, but when. dont have the answer there.
on Mon, 11/16/2009 - 23:32
#132831
http://www.youtube.com/watch?v=DXCbAtkgNMw
on Tue, 11/17/2009 - 11:56
#133290
You got out at 980 because you didn't think it was hip to be in gold anymore? Are there holes in the walls of your apartment when you repeatedly bang your head?
I am Chumbawamba.
on Tue, 11/17/2009 - 13:33
#133394
Um... have you tried to talk to anyone about gold? Other than hard core individuals who were already aware of it there aren't any new people coming in (other than central banks). People still couldnt care less about it and some even really hate it. I have never seen an asset class this unloved after a multiyear bull run (from mid 200's) with so money still unconvinced. When everyone comes up to you and tells you what mining stock to buy or how much higher its going - then its time to go. And Im talking about the guy in line at starbucks or in the elevator telling you how they are killing the gold market - and you can tell by their conversation they really have no idea about gold or finance/econ - they are just herding along. That's the top and the time to go. We aint even close yet...
on Tue, 11/17/2009 - 12:04
#133297
I agree. Something like the "Heisenberg uncertainty principle". The more people try to predict the outcome, the less predictable the outcome becomes.
So when its common knowledge that the gold is going to go up, Its less lilely to go up.
on Tue, 11/17/2009 - 13:14
#133374
which turns it into a black swan event when it inevitably goes up.
on Tue, 11/17/2009 - 01:32
#132916
The intangible is confidence. Confidence in the US and the dollar. Confidence that we are not stepping on a mine
It transcends all the math and modeling. In the world of fiats, it is everything.
It seem at some point the forces of the Fed's jobs/prices dual mandate will work against it, painting them into a corner by tunnel vision in an infinitely complex, yet finite world.
Always mind your surroundings.
on Tue, 11/17/2009 - 02:10
#132931
+100
Though there may be a short term Dollar rally, the debt would drag it down.
on Mon, 11/16/2009 - 22:42
#132766
the USD is backed by $1T of Fannie/Freddie MBS and climbing, enough said.
on Mon, 11/16/2009 - 22:45
#132772
good to see you back howard....
the dollar squeeze: there are so very many geopolitical events that could ignite this in a moment let alone financial matters that all here are aware of. crowded trades are crowded trades and the beauty of them is that history shows that they all unravel, usually at an accelerated pace.
i've got no comment about gold pricing action except to say that it has been the best store of value for, say, several thousand years!
on Tue, 11/17/2009 - 00:23
#132876
Nice long spiel, not one mention of the 1.25T of MBS that Bernanke is buying, not to mention the market sentiment that he will not be able to stop buying at 1.25T.
Any analysis of the USD without looking at what is backing the USD is incomplete. Increasingly that backing is Fannie and Freddie MBS.
on Tue, 11/17/2009 - 01:55
#132924
Haven't you noticed a slight difference between the housing bubble and the dot-com bubble versus the gold bull market?
I'll give you a hint: the public hasn't started buying gold, while everyone was jumping on board the real estate and dot-com bubbles.
And just because you know a few contrarian investors that are buying gold doesn't mean anything. They don't represent the general public - which is selling gold, not buying it, if the cash4gold commercials are any indication.
I'll point out another difference as well: bubbles always have increasing supply to meet the demand. More dot-com stocks to buy, more useless McMansions being built.
Meanwhile gold production is falling.
Does this mean that the POG won't correct. Not at all. It will correct some time in the near future. But it is nothing like the bubbles that you point out.
on Tue, 11/17/2009 - 06:12
#132983
This is what is called 'the market'.
One feels, thinks, uses a ouija board to say that it's going up and the other uses a set of chicken entrails to say it's going down.
Looks like there's a current surplus of those who have been right (for several years) that gold is going to go up.
I wish I had stuck with my purchase at $900 and $700.
I wonder how many of us bought it at the lower number and still held possession of it thru the ups and downs over the last several years. Not many I would suspect. Many more entered the market at 700 and sold at 900. And so it has gone to the level it is today.
There's no scientific way to test it but an anecdotal story would be interesting on this board: those who have held it and those who traded it away at a few points higher than they paid.
on Tue, 11/17/2009 - 11:38
#133254
I started buying at 600, bot more at 560, and kept buying up to the high 900s. Bot more in the collapse last fall as did a relative. Sold some recently to raise cash but still hold most. Silver too. Have not sold a single ounce of that stuff.
Physical PMs are real savings as opposed to paper money. So count me as one who held possession of it thru the ups and downs over the last several years.
on Mon, 11/16/2009 - 21:12
#132662
If they are wrong then they can ask the US for a bail to avoid another "systemic collapse"
on Mon, 11/16/2009 - 21:39
#132689
It's only $71.7 million. That's chump change compared to the country's net foreign currency reserves of $2.9 billion.
on Mon, 11/16/2009 - 22:07
#132723
this is a good point, perspective is always important, and with mutlibillion dollar frauds, and trillion dollar deficits, $70M hardly even seems to register anymore. But that figure is still 700 $100,000 dollars.
on Mon, 11/16/2009 - 21:48
#132703
Maybe they're hedged LOL.
on Mon, 11/16/2009 - 22:03
#132721
Hedge Accordingly, your screen name is apt. You're likely hedging as you are a weak long or weak short. Run for the hills at the first sign of a pullback or advance. May I suggest you study the fundamentals & technicals behind the long gold/silver trade and why various investors & countries are buying the PM's. Gordon Gecko has been showing readers the astuteness of this investment. Will there be pullbacks & shakeouts? Yes, specifically to shake weak hands like you out of your positions. Especially in a market where demand is increasing and supply is diminishing. There is a finite supply of gold/silver; there is an infinite supply of paper & digital FRN's. Now, which asset would you want to hold in a banana republic sir?
on Mon, 11/16/2009 - 22:40
#132762
HA, have a look at today's gold chart. Most bullish I'd say:
http://www.zerohedge.com/forum/us-dollar-interest-rates-gold-charts#comm...
on Tue, 11/17/2009 - 00:22
#132872
Ignorant statement. Obviously, these are central bank reserves. They are not "day traded" or used in daily operations (unlike the US gov). This is USD gathering dust in a drawer, depreciating. Tiny Island has realized they would rather have bars of gold in the drawer. Get a clue.
on Mon, 11/16/2009 - 20:23
#132594
Here's a closeup....
on Mon, 11/16/2009 - 20:29
#132604
Robo, I thought you promised mom you wouldn't take any more pictures of sis without her agreement?
Family resemblance anyone? No, not the face. If you're even looking at the face. Something else.
on Mon, 11/16/2009 - 20:31
#132608
That is a very nice beach...
on Tue, 11/17/2009 - 10:41
#133176
That is a very nice beach...
Thats what jumped out at me ...Especially the beach break..
on Tue, 11/17/2009 - 12:49
#133337
You can almost feel that sand in your toes cantcha?
on Mon, 11/16/2009 - 21:47
#132701
Actually, they don't look like silicone - those are good old fashioned big ass titties :-)
on Tue, 11/17/2009 - 12:10
#133305
Yep.
I am Chumbawamba.
on Mon, 11/16/2009 - 22:11
#132726
No. Try this http://www.pokazuha.ru/view/topic.cfm?key_or=824034&lenta_type=1&type=10
on Mon, 11/16/2009 - 22:42
#132765
Oh, the back problems she must have. Her suffering is for all of us.
on Mon, 11/16/2009 - 23:06
#132808
@swgprop .............eeewwwwwww
on Tue, 11/17/2009 - 01:00
#132898
Thanks swgprop... who knew inflation was such a problem in Russia?
on Tue, 11/17/2009 - 10:43
#133181
WOW! Cargo nets..
on Mon, 11/16/2009 - 22:19
#132735
Tyler's girl has that beat... hands down... I mean hands up.
on Tue, 11/17/2009 - 05:10
#132933
BORRRRINNNGGG!!!!!
Robo, appreciate your comments, man, but DAMN.
Where's the beef??
http://4.bp.blogspot.com/_j1oIj9F_YMM/RpE6Ftj65OI/AAAAAAAAAx8/WQuUE_4msRA/s400/Aussie+Lifeguard+twins+01.jpg
on Tue, 11/17/2009 - 06:51
#132993
Beachin' fer shur.
Little boys, want some candy?
on Tue, 11/17/2009 - 17:26
#133715
hehehe...their name is 'Gemini'. Or sometimes 'Thing 1 and Thing 2'.
The boys loves them some candy.
Twins are great at the beach, where everyone loves a good tasty sandwich.
on Tue, 11/17/2009 - 22:08
#134022
This ain't beach but I know gold when I see it. I think you and I will have no conflicts on this one at all.
http://oneasianworld.com/blog/tyson.jpg
on Tue, 11/17/2009 - 22:31
#134034
OH. MY. GOD.
I didn't think they made boys that...perfect anymore. No, wait. That achingly, stunningly, salaciously, mouthwatering ambrosial anymore.
Was he not at a beach? I kinda don't remember anything much after seeing that picture.
sigh...I am not at a private terminal right now, alas! can't post anything else 'til I'm back home. (Goddam corporate 'safe' defaults!) My eyes are still blinded anyway...good thing I have shades for the trip home!
on Mon, 11/16/2009 - 20:30
#132595
one troy ounce per night* (but if you book by midnight Ted Anderson will hold the room at last weeks closing price)
http://www.oneandonlyresorts.com/flash.html
*for stays between November 20 and November 30, 2009 three night minimum (all rates quoted per night per suite)
on Mon, 11/16/2009 - 20:32
#132610
Girl, you know its true.
on Mon, 11/16/2009 - 20:32
#132611
that settles it, I'm moving there.
on Mon, 11/16/2009 - 20:35
#132614
Outstanding. Tell Ben Bernanke to take his clownbux and shove them where the sun don't shine.
on Mon, 11/16/2009 - 20:36
#132616
All I know is that if stupid asses like Kudlow and Cramer are telling everyone to buy Gold, then I'm heading for the hills...
on Mon, 11/16/2009 - 22:10
#132725
Kudlow's coke dealer is probably tired of Kudlow's kited checks and wants Krugerrands from Larry now...
Hence, Larry is bullish on gold...
on Mon, 11/16/2009 - 21:20
#132617
Beautiful wildlife ...
on Mon, 11/16/2009 - 20:42
#132622
But...but...I thought deflation and the priceless strong dollar were gonna happen? Don't tell Doucheinger and Mish lol
Artificial shortage on oil? with tankers? on 85mbdp consumption? ROTFL...you'd need 40 VLCCs per day
on Mon, 11/16/2009 - 20:48
#132630
nothing like round trip trading on ice to rev
up oil double what it's clearing value is....
this is just like jimmy carter's stunt to park
tankers in the carribean to create an oil crisis...
on the other hand it could have been the cia trying
to embarrass carter....something not very difficult
to do....
sorry folks, gold does not have a bubble - the
frn has a gigantic leak....
on Tue, 11/17/2009 - 00:27
#132881
I actually read KD's blog today, along with some of the comments - hilarious. Basically KD says "just wait until the dollar carry trade comes undone, the fallout will be enormous", then his disciples get on the message board and say "Genesis, what we cause the carry trade to end?", and he replies "Oh, just wait, it will be something unforeseen, and it is gonna be huge.".
Pure hilarity.
To his credit, he does harp on about the Fed illegally buying Fannie/Freddie MBS, but then fails to connect the falling dollar to those purchases.
on Tue, 11/17/2009 - 03:30
#132937
I LIKE Denninger!
C'mon, he does a wonderful job of unmasking the fraud, you gotta admit. Right up there with Zero Hedge. (Well, close. And there's just one of him whereas Marla has Tyler to help out....)
He has some kind of mental block on gold, don't know why. Maybe his dad lost a pile on long gold during the Volker days or something, my theory. But it's obviously some kind of emotional thing which, you know, we're each entitled to as long as we make up for it in other ways...
But if you read him for the right reasons (maybe not for advice on gold/USD/forex), he is one of the more astute commentators out there! I think they could use some of his Tickers as evidence in (God Willing) the future TRIALS of some of these legislators, Treasurers, and fatass corporates.
We don't have to agree 100% with who we read, still to get the benefit of what they have on straight, I think.
I must admit I feel sort of bad for him b/c I can relate to his rage and disappointment when the institutions he expects to do their job, and uphold what is (was) great about the US, turn out to be so badly corrupt. I'm kind of with him on that. I think this is what makes him so astute on the fraud, his rage about what SHOULD be, his expectations that at least once 'they' will do the right thing.
on Tue, 11/17/2009 - 06:59
#132998
Good post. Karl is a little too stiff about what you can and cannot say in his comments section, another emo trigger, but it is obvious his intent, heart, and mind, are in the right place. He works harder on these issues than most of us posting here do. We are lucky he is crazy like that? Mish though a deflationist I do not always agree with (inflation/deflation construct is out the door, too binary for emergent realities which must include sooo much intervention) is always fighting the good fight and a sweetie to boot.
on Tue, 11/17/2009 - 12:18
#133309
Karl is an idiot and nothing more.
I am Chumbawamba.
on Tue, 11/17/2009 - 17:35
#133731
MsCreant
Nice to hear from one person who agrees! Meh, it's not worth having a blue with half the blog over, but to me even so, 'the enemy of my enemy' etc. One thing I appreciate about Mish, is that despite his very public disagreement with Peter Schiff - and he has taken it to Schiff more than once over inflation/deflation - he had the integrity to endorse wholeheartedly Schiff's run for Congress.
Mish is big on gold and no fool - I agree that inflation is very much what's going on here, all around the world in a fiat collapse, but am also aware that in countries where hyperinflation has taken root, it has been preceded by deflation first. There's where, in my opinion, Mish comes in; in the big picture Mish and Schiff might be in more agreement than it would seem. He hasn't pointed out any deflation in Australia, for instance, b/c here there just isn't any.
As for Denninger, I am grateful to the man for the education I receive on his blog, as I am grateful to ZH and to so many here. I don't agree with him about fiat money and I suspect he has an emotional mental block on gold...so I don't participate on the forum, just read and learn and am happy with that...
on Tue, 11/17/2009 - 10:27
#133154
Agreed...he banned all the people who "foresaw" it.
Just wait, the notes of a BK nation are going to be priceless...PROMISE YOU
His forum is a cult of people who exist to kiss his ass. Dude has been wrong wrong wrong about all the measures the Fed would pull.
The problem with Mish and KD is they actually expect these people they DAILY call crooks and frauds and liars to follow the RULEZ. It's a very childish naivete, really.
The endgame in case of deflation would be very swift. The decline in tax receipts would very rapidly crush the government. They couldn't even pay the INTEREST on existing debt. Everybody who can add can do this math and knows the outcome.
on Mon, 11/16/2009 - 20:47
#132629
Just big enough for my pickup truck
on Mon, 11/16/2009 - 20:48
#132631
What's the source of this news?
on Mon, 11/16/2009 - 20:59
#132642
Found it: http://www.imf.org/external/np/sec/pr/2009/pr09413.htm
Oddly enough, according to Google this news is over 17 hours old?
on Mon, 11/16/2009 - 21:50
#132706
the media wears blinders (or some such version of media idiocy)
only place I had found it was zerohedge & the IMF website press release page. Goldseek just now posted it.
on Mon, 11/16/2009 - 20:57
#132644
Here's the announcement from the IMF:
http://www.imf.org/external/np/sec/pr/2009/pr09413.htm
on Mon, 11/16/2009 - 21:14
#132663
is Tungston going up AH ...had to zoom 200% to see
on Mon, 11/16/2009 - 21:14
#132665
That ain't tungsten.
on Mon, 11/16/2009 - 21:19
#132668
According to Wikipedia the country previously had 1.9 tons of gold, with this purchase they more than doubled their gold reserves.
on Mon, 11/16/2009 - 21:28
#132677
Looks like the run for the exits from the USD has started. India just yelled "fire" in the packed dollar theater. BTW, it's not a gold bubble, but an imploding dollar bubble. This is exactly what it should look like - a bubble in everything else, especially Gold.
on Mon, 11/16/2009 - 21:51
#132710
wait until most of the market trades are to sell, and then move into AU bypassing the $$.
Then we'll get some moves. Just beginning to get interesting in the PM trades.
Silly humans, never learn. Think themselves above prior generations because they can access the technology and labours of a slave pool.
Arrogance without bound. Pride before the .....
on Tue, 11/17/2009 - 06:02
#132941
'India just yelled "fire" in the packed dollar theater.'
HAHA!!! Yes and Mauritius just took off running with one of the water buckets...
on Mon, 11/16/2009 - 21:29
#132678
look mauritius has done pretty well for itself. but is it smart money?
what's the chance that they could all be wrong? i don't know but i could point you to a few municipal pension funds in scandinavia no longer asking themselves the same question. yes i see gold appreciating markedly over the next several years, and i think the support will be even more solid when inflation actually begins to occur. but the arrogance in this trade is really starting to bother me. yes i traded silver over the past few days and did very well, after losing a little on a gold short the previous week. that's dbs, not physical, and i didn't have to wait on fedex. i'm not going to say this with the same tone of arrogance and self-assuredness as all the 2k-gold-by-february people, but i really do think there will be a little correction here
on Mon, 11/16/2009 - 21:41
#132692
John Paulson, Paul Tudor Jones, Andrew Hall, George Soros - would that satisfy your definition of "smart money"? Or do you think you are smarter than those guys? The real arrogance is in the "dollar will soon rise spectacularly" trade even though it's TOILET PAPER.
on Mon, 11/16/2009 - 21:47
#132702
I dont think I'm smarter than those guys, but I'm pretty confident that I'm at least as smart as you, and a whole lot less EMO if you know what I mean. Emo traders dealing in hyperbole make me smile, whether they're trading equities, gold or currency pairs. Hell, come to think of it, I could be smarter than those guys, too.
on Mon, 11/16/2009 - 23:05
#132807
So why post anon, let us see who you are and celebrate how smart you are, with you? Seriously.
on Tue, 11/17/2009 - 02:51
#132942
And when he shows us his, we also promise not to laugh. Or at least not to point when we do.
on Tue, 11/17/2009 - 11:43
#133268
I don't know but GG seems like anything but emo to me.
on Tue, 11/17/2009 - 12:22
#133312
GOLD BITCH!!!
I am Chumbawamba.
on Mon, 11/16/2009 - 21:51
#132709
yeah of course i respect all those guys. no i don't think i'm smarter than them. but i wonder how many of them are buying right now, that would be more interesting to know than the contents of a 13-f filing from a month or two ago. it's one thing for them to keep talking, puffing up their current holdings by staying in the media with bullish predictions. but if some shit gets in the fan, i doubt guys like that would be so purely ideological about the sanctity of gold. don't forget david einhorn.
on Tue, 11/17/2009 - 00:33
#132882
Honestly GG, I could give a shit about what the "smart money" is buying and what others on this board think, so far not a single person on this board or anywhere has demonstrated how Zimbabwe Ben is going to stop his purchases of Fannie/Freddie MBS, and how, in the face of his continued purchasing and the increasing backing of the USD by those MBS, it has any chance of rallying.
We've been right for months, and trust me, will be right for many more months. I stand by my prediction - gold will be well over $2000 by mid-next year.
on Tue, 11/17/2009 - 01:53
#132923
Your prediction on gold being at $2,000 in several months may well be right.
But while the Fed has committed itself to buying Agency MBS and debt full bore until next Spring, I can guarantee you the Fed is very worried about dollar devalutaion getting out of hand.
The really sad part of that story is that the Fed may be defenseless if they allow the dollar decline to turn into a dollar rout. The best course might be engineering another safety trade, as the MBS program unwinds-- and justify another toxic debt purchase program while the market is in panic mode.
But, the other option is they might be stupid, er... they might be blinded by "printing at all costs". If they continue their bad assets way, these folks in Washington will be playing some very dangerous games with our currency, and it may turn out a whole lot worse than most can imagine.
on Tue, 11/17/2009 - 02:55
#132944
Do you think, though, they have in mind that the DXY was at, what, 72 earlier in the year?
So, if they managed through that, then 75 isn't that bad...especially considering there seems to be some global support at that level. The USD can't be routed too quickly, without the global community doing some serious diversifying first, right?
So I would think they wouldn't get too anxious until it fell to at least a 12-month low, would they?
(This is from memory - haven't checked the figures due to a slow internet connection so I hope I have them right.)
on Tue, 11/17/2009 - 11:47
#133275
Yep just like gas prices. They flog you with $4 a gallon and suddenly 2.75 to 3 doesn't seem so bad. We have been programmed.
on Tue, 11/17/2009 - 11:56
#133289
Renfield... yes, you are right about that. The Fed can let the DXY get to the 71-72 level before it breaks support and all hell breaks loose. That's only about a 5% devaluation from current levels.
Given the rate of declines we've seen, that might buy another 2-3 months worth of time. That seems to coincide pretty well with the winding down of the MBS purchase program.
on Tue, 11/17/2009 - 01:29
#132915
You shorted gold, and you talk about ARROGANCE? What makes you think you can time this?
We have reached a tipping point where over the long term the US government is taking in less and less in tax revenues while their budget continues to grow (causing a larger deficit). If the dollar strengthens, gold may not even correct - all the central banks are buying gold and it is becoming more and more rare as the major veins have been found, why would you want to give your money away? Options are for writers premiums, trust me.
I understand the potential for a stronger dollar for a short term possible pop if you wanted to get contrarian and "outthink/beat the system" (as other currencies are also debasing and may be worse off than the US), but I think gold may have decoupled and backwardation is possible. I am also struck by poor earnings on major silver producers with record high silver prices - it would appear it is costing too much to extract silver - you know the old supply/demand curve.
on Tue, 11/17/2009 - 07:52
#133017
I trade dude. Win some lose some. Am I the only one who ever takes a loss?
Maybe my gold short was hedging another trade I had going?
on Tue, 11/17/2009 - 17:43
#133745
Mr Now:
Fundamentals (supply/demand) may at last be re-entering the investment picture here.
The powerz will do their best to cloud this simple issue with paper, as usual, but it looks like what worked for awhile in the past may have run its course.
Smell that? You smell that?...Nothing in the world smells like that.
on Mon, 11/16/2009 - 21:33
#132681
Gold filled with Tungsten?
on Mon, 11/16/2009 - 22:13
#132728
Yeah... like ethanol stretching regular gas...
Makes perfect sense to me and Ben...
on Mon, 11/16/2009 - 22:46
#132780
They pay with worthless
paper money for fake gold.
The Chinese sell us their junk
we sell them junk US treasury
bonds.
It reminds me the joke when
one gang delivers a fake
statue of Budha and the other
gang pays them with fake
money. Then they start to
fight and the other gang
are the crooks.
on Mon, 11/16/2009 - 21:35
#132683
http://www.kirbyanalytics.com/
operation grandslam.
making gold plated tungsten bars and calling them good. this story is about to take off now i would think. imagine the fear in the world today because of this. gold bars marked good for delivery. looks like assaying work is about to pick up and they will be hiring men to do the drilling of holes in each of the bars owned by the central banks..ha ha
There are two foreign depositories for gold:
1. Bank of England
2. Bank of NY
There is no doubt that the source of the "tungsten" is the Bank of England.
Tungsten is unique and one of its chief characteristics is that it has the same density of gold. Gold is very dense and so is tungsten. Tungsten is also very cheap.
One of the oldest scams is making a brick of tungsten and covering the brick with gold, sealing all the edges and covering the whole surface with real gold.
A London Good Delivery Gold Brick is a 400 oz gold brick, stamped on the bottom with the assayer (e.g. Johnson Mathey). The stamp would have the serial number and the weight of the bar to 3 decimal places.
If I were to buy gold from London and ship to say the bank of Nova Scotia, Scotia Macotta, the agent for the bank and for me would guarantee to me the purity and the weight.
For this I pay insurance, shipping fees and storage fees. If the gold comes from their own inventory, they would not assay. If it comes from another vault, then one or two bricks would be assayed.
The assay requires a hole to be drilled to make sure that gold is uniform. The core and the brick is then heated and reweighed and stamped and that new brick would have Good Delivery Status.
It would be a nightmare to assay every brick that comes to a bank.
It now seems that the Chinese asked for an assay on some of their bricks and lo and behold, some were filled with Tungsten. You can imagine the nightmare that this presents itself.
Here is Jennifer Barry's account on these findings by Rob Kirby:
Speaking of fraud and the grim reaper…doctored gold bars
on Tue, 11/17/2009 - 01:27
#132913
"There is no doubt that the source of the "tungsten" is the Bank of England."
That's funny... the Bank of England says the source has to be the Bank of NY...
American smelters simply lack British ethics, you know...
on Mon, 11/16/2009 - 21:43
#132694
That's Denise Milani, Tyler. Did you obtain copyright permission from her website? And, RobotTrader, that's not a better picture in any way compared to the real Denise.
on Mon, 11/16/2009 - 21:50
#132704
Gold trade just got a little more crowded
"With current Fed policy, gold is headed rapidly toward $2,000 per ounce, probably within six months. The forecasters who see such a price, but suggest it would take four to five years to get there, are ignoring history. Since gold was able to get from $185 to $850 in 18 months in 1978-80, there is no reason why it cannot get from $1,100 to $2,000 in six months now. What's more, although 1980's peak seemed madness at the time, and was equivalent to nearly $2,400 today, there is no reason why gold cannot go much higher if it is given another year or so to get there. The supply of gold from new mining is around 1 million ounces per year LESS than in 1980 and the supply of speculative capital that could flow into gold is many times greater. Hence, a $5,000 gold price is possible though not certain, if present monetary policy is continued or only modestly modified – and that price could be reached by the end of 2010."
http://www.prudentbear.com/index.php/thebearslairview?art_id=10309
[Edit]
on Mon, 11/16/2009 - 21:54
#132712
Gold is in supply decline...peak production was achieved in 2000. This is well-published data, though apparently little-known by the self-proclaimed brilliant deflationists.
If the US had a solvent balance sheet, we could tolerate deflation. Last I checked we were $12T in the hole give or take depending upon the true state of the Fed's balance sheet marks.
Deflation means falling incomes and falling revenues and falling everything...how in the hell could the gov pay the INTEREST on this debt, which is now the 4th or 3rd largest budget line item (and rising) in the event of significant deflation? Already we are looking at receipts covering only 1/3 to 1/2 of outlays and this picture shows no signs of other than continuing deterioration against a bleak fiscal picture in terms of entitlements and war spending (health care anyone?).
Deflation is a fast-track to sovereign default.
Years ago, I predicted Japan would default in 2009; looks like I may be off by a year or two, but somebody is going down. The debt loads are untenable. You show me how this comes out rosy for the dollar if deflation caused receipts to fall below interest outlays.
on Mon, 11/16/2009 - 22:03
#132719
This just in: Tiny Mauritius has been selected for nuclear testing according to Pentagon officials. A spokesman for the State Department has declared the island suitable for measurements of radioactive activity due to it's location. The government of Mauritius has one week to respond.
Here's Steve Liesman with the weather.
on Mon, 11/16/2009 - 22:46
#132781
LOL. This is the future.
on Tue, 11/17/2009 - 02:57
#132945
It's funny b/c it's true! :-)
on Mon, 11/16/2009 - 22:18
#132731
If they really have $2.9B in foriegn currency reserves then what do they care if it goes down some. I don't see anyone predicting $250 gold price. it is a small portion of their reserves and it is probably a long term hold so if short term it loses some value it is no big deal.
No doubt a long term hold baffles a day trader because they can't wrap their brain around the concept. It looks like a very prudent move to me.
on Tue, 11/17/2009 - 11:53
#133281
You answered your own question. "What do they care if it goes down some?"
They are worried it will go down a LOT!
on Mon, 11/16/2009 - 22:33
#132750
The only thing this guy cares about is his next appearance to lure in more subscribers...............
Gartman cites GATA on CNBC, asks: Who cares if gold is rigged?
Who really cares any longer, Gartman asked rhetorically, if the gold market is manipulated? The important thing, he contended, is that the gold price is rising steadily.
http://www.cnbc.com/id/33962643#
on Mon, 11/16/2009 - 23:42
#132846
Yeah I heard that and I wanted to puke in his face. Who cares if we're just sheep as long as we're fed and have a place to sleep?
Funny how The General Electric Channel has Gartman on the show every time gold makes a spectacular move up. It's like he's there to explain how this is an anomoly and go back to bed everybody.
on Mon, 11/16/2009 - 22:36
#132755
I wonder where Mauritius will store it?
Interestingly, there's also an IMF assement letter on Mauritius:
http://www.imf.org/external/pp/longres.aspx?id=4385
on Mon, 11/16/2009 - 22:39
#132761
And if you are into gold, careful if you are holding the GLD ETF.
"Excerpt from the GLD prospectus on page 11:
http://www.spdrgoldshares.com/media/GLD/file/SPDRGoldTrustProspectus.pdf
Gold bars allocated to the Trust in connection with the creation of a Basket may not meet the London Good Delivery Standards and, if a Basket is issued against such gold, the Trust may suffer a loss. Neither the Trustee nor the Custodian independently confirms the fineness of the gold bars allocated to the Trust in connection with the creation of a Basket. The gold bars allocated to the Trust by the Custodian may be different from the reported fineness or weight required by the LBMA’s standards for gold bars delivered in settlement of a gold trade, or the London Good Delivery Standards, the standards required by the Trust. If the Trustee nevertheless issues a Basket against such gold, and if the Custodian fails to satisfy its obligation to credit the Trust the amount of any deficiency, the Trust may suffer a loss. "
This quote was lifted from an interesting article on the tungsten issue. The article can be found at: http://www.marketoracle.co.uk/Article14996.html
Almost like holding some mortgage back securities. What are the darn things worth? I suppose if its true, "real gold" will really spike - but go trade the stuff.
on Mon, 11/16/2009 - 22:44
#132768
As of 10:44PM spot gold priceis down $3.00
on Mon, 11/16/2009 - 22:45
#132770
Do you have any idea how hard it is to explain to that girl that you are "short" and that I will be rich soon? It is very difficult! I am getting made fun of bigtime for staying short by our risk manager. TRADERS PRAYER... " God please get me out of this short and I will never go anything but long from now until eternity".
on Mon, 11/16/2009 - 22:48
#132775
Maybe someone can educate me. I am of the belief that gold is a non consumable resource. Roughly the amount taken out of the ground equals the amount possessed today, minus a few fillings and bottles of Goldschlager. And it isn't freely traded but horded. So the value built into its price is not for consumption but for storage of wealth. So when someone sells gold form their stores it only goes into the buyers stores. No destruction of supply.
Now gold hit a recent bottom in 1999 and has only gone up in the last 10 years. And if I look at the data points 3/08, 3/09, 11/09 the DXY was at (est.) 78, 89, 74 respectively and for GLD was at (est.) 87, 92, 110 respectively how is it assumed that a fall in dollar can be contributed to a rise in the price of gold. Other correlations go further back than 3/08. From 1/98 to 3/02 the dxy shot up but gold traded sideways.
I don't understand all the talk about gold going up only because of the declining dollar. It seems to me that it is only speculation, which is fine by me. Frankly someone very smarter than I always told me to follow the silence and not follow the talk. I heard a lot of talk about tech stocks, real estate, oil and now gold. But as I said, maybe someone can help educate me.
on Mon, 11/16/2009 - 23:15
#132817
my simple boiled down approach is that, yes there is the uncertainty of US dollar/fiat going to hell so there is the knee jerk reaction to go grab SOMETHING besides ammo and water which gold has been there forever.... and then you have the quick to take advantage crowd who will pump this fear 10 times or more higher without any care if it can skyrocket or not.. they are making $$$ in the now on fears of the future - and THAT practice has been going on for just as long as gold has been around as currency..
on Tue, 11/17/2009 - 03:13
#132950
"I don't understand all the talk about gold going up only because of the declining dollar."
Not true. Check out the Aussie charts (one of the perceived 'stronger' currencies these days, it seems) over the last couple months.
http://goldprice.org/gold-price-history.html
Gold is rising in ALL currencies, predominantly due to demand/buying, these days. Only not as dramatically as in USD.
In Kitco's 'weighted currency' index, gold is nudging its all-time nominal high (look at the one-year chart on the webpage):
http://www.kitco.com/kitco-gold-index.html
And that is 'nominal', neither inflation-adjusted nor using John Williams' (shadowstats) numbers.
In other words, gold has a long way to run.
I am long gold/silver but not b/c it's not so much that I'm in the church of gold, as that I can't see a trend when it's right in front of my nose. And understand the reasons for it.
I'll drop gold or any other investment the second it looks like there's a viable currency alternative that will take over as, (Bonner's words) 'the trade of the decade'.
But in the meantime, I think one must be deep in the Faith In the Power-That-Be to think that any pure fiat currency is going to come out of this as a winner. The OECD countries are deeply, irrevocably in debt, and the toxic assets that form the foundation of the OECD currencies are on the nose with the 'third world' creditors countries.
And no, despite being Aussie, I don't believe in the sustainability of the Chinese 'boom'.
on Tue, 11/17/2009 - 05:03
#132967
Solid precious mineral miners are moving in multiples of 2 to 5 times gold
on Tue, 11/17/2009 - 17:52
#133756
Hey SRV
True, and nowhere are people (well, some people) more aware of this than Aus all right.
However, much as I agree that miners are a good investment generally right now, it's not as 'safe' as owning metals themselves. So much depends on the mine itself, knowing about its production, its history, its owners, its balance sheet. You could wind up with a Barrick, for instance, or a Bre-X...
Plus, as I continually point out to people here, there is a production 'boom' going on right now, largely fuelled by China, that may or may not last.
While in the long term miners are still good, they may be in for some rocky times if (when?) the Chinese boom falters.
So, yes good investment, but risky. We better know what we're doing when buying the mines.
on Mon, 11/16/2009 - 22:48
#132785
EVEN DODOS ARE BUYING GOLD
The "barbarous relic," as Keynes called gold, seems to be popular again and gaining by the day. After years of Central Bank selling, we see a reversal of this trend. India bought a large amount within the last couple of weeks. China is increasing their holdings. Now Mauritius is doing the same.
Mauritius is a small island nation located off the coast of Africa. It is acknowledged to be the home of the dodo bird. As described by the Canadian Museum of Nature: "First seen by Europeans in 1598, the Dodo was extinct shortly after 1640. Mauritius, an island in the Indian Ocean, was its only home. Human activity is to blame for its extinction." Today, the term "dodo" is often used to refer to someone stupid.
Because gold is "useless," and all countries are in need of capital to support their economies, it would seem "stupid" to tie up usable funds in an inert metal. While that might be a way to rationalize Mauritius's recent purchase, it cannot explain away the behavior of China, India and the other Central Banks that are adding to their gold stock. The dodo never lived in any of these countries.
Perhaps even the dodo is capable of seeing the impending international currency collapse or the death of fiat currency.
Monty Pelerin www.economicnoise.com
on Tue, 11/17/2009 - 01:01
#132899
Your funeral pal.
on Tue, 11/17/2009 - 17:53
#133757
Silver silver burning bright:
I had to read that post 2 or 3 times, but I think he's actually in agreement with you...
on Mon, 11/16/2009 - 22:51
#132791
Well Doucheinger was panicing about a Dollar crash today and now it is back at 75. Doucheinger needs to chill the heck out and relax a bit. Reduced my consumption of his "Tickers" because of these all to frequent freak out sessions. Little by little he loses credibility when he does this.
http://market-ticker.denninger.net/archives/1631-You-Stupid-Fool-Bernanke.html
on Tue, 11/17/2009 - 07:01
#132999
You're right. Denninger has been predicting an "immanent parabolic blowoff" for various economic elements for like, two years. Immanent. Heh heh. Forget Zero Hedge, how about Zero Credibility.
on Tue, 11/17/2009 - 10:40
#133173
This is what happens when you ban every dissenting opinion and self-create an echo chamber.
Doucheinger COMPLETELY missed the Fed printing, despite being told by people far smarter than he that it would happen. He said the Fed would not put the gun in its mouth and if they did "bondzilla" would smack them down. ROTFL
Yet still his acolytes cling to the "deflationary vortex" theory...black holes on balance sheets swallowing imaginary money. Douche doesn't "believe" in peak oil either. Total LOL there as anyone with a brain can rattle off half a dozen nations that have peaked (54 of the top 65 actually have). If a REGION of the earth can peak, doesn't it follow by induction that the earth can peak too?
The dude threatened to put TOD on the banned sites list on TF. TOD! I mean that site is beyond comparison as far as having levels of real research and data that will blow your mind right outta your head on a constant basis but because some article there made claims about the unit cost of algae biofuel that KDouche didn't agree with, he threatened to ban the damn site unless the poster referencing it didn't delete the link! Total WOWZA. TOD is a place real geologists hang out and talk about real oil wells.
The funniest thing about TF is the penis envy they have of ZH.
TF is a great place to go if you want to read "skullfucked" and hear mantric deflation chants, but if you want real scoops, real analysis, real data, ZH, TOD blow that crackden out of the water
on Mon, 11/16/2009 - 22:52
#132792
i'm calling a bubble in the gold-plated tungsten story. mark the day
on Mon, 11/16/2009 - 23:02
#132803
I own gold but I just have one problem:
Why is the IMF selling gold?
We must assume that the IMF has access to the same information that we have, plus more. If gold is destined to go much higher, why would they sell it now?
on Mon, 11/16/2009 - 23:06
#132809
are you trolling? everyone knows the IMF likes to flood the market to keep the price down... i wouldn't be surprise if they have some swindle lined up to acquire more gold by artificially inflating some other worthless 'security' so as to buy more of the real deal
on Mon, 11/16/2009 - 23:20
#132823
must be that tungsten gold
on Tue, 11/17/2009 - 00:03
#132862
thats a solid point. If i had something "valuable" the last thing i would be doing is selling is for paper crap. I'd let demand build by "peeling" my supply
(bud dealers do that, lol)
I'd horde Gold until i had too much and the price was 10k per oz, with buyers lined up to pay.
WHy sell all my Gold at 1045-1115, unless I had some other motive.
on Tue, 11/17/2009 - 01:02
#132901
Because technically the gold didn't really cost them anything...just think about it.
on Tue, 11/17/2009 - 07:13
#133002
That got under my skin too. I felt like "hey, who gave you that?" Like a kid who needs money for their rent in college, you help out, and then they turn around and buy candy, beer, and magazines with it.
on Tue, 11/17/2009 - 12:55
#133343
And worst of all, porn!
I am Chumbawamba.
on Tue, 11/17/2009 - 17:56
#133761
Yo, if guys don't get sex they gotta get pr0n, or else it falls off...this is a NEED dude. Don't be hatin on pr0n...
I bet the IMF clones are big, big buyers of the Forbidden Fruit. ;-)
on Mon, 11/16/2009 - 23:03
#132806
how much is the going rate for metric pounds of Mauritius Booty??
on Mon, 11/16/2009 - 23:32
#132834
The bubble is in FIAT MONEY, not GOLD and when it bursts you get hyperinflation.
Just when the sheeple thought they had this bubble thing figured out....
on Tue, 11/17/2009 - 01:00
#132897
+100
and the Fiat Fairy waved its fake wand and created another $5 Trillion.
on Mon, 11/16/2009 - 23:35
#132838
I don't know TD, it looks the girl has got 2 metric tons of Gold right on her chest? Who wants to blow that bubble?
Anyone ? Anyone at all?
on Mon, 11/16/2009 - 23:51
#132855
I don't know TD, it looks the girl has got 2 metric tons of Gold right on her chest? Who wants to blow that bubble?
Anyone ? Anyone at all?
on Tue, 11/17/2009 - 00:03
#132863
This IMF-Mauritius sale values the gold at $1016.33 per ounce.
It was 2 metric tons (2 million grams) at $71.7 million, and 1 oz. = 28.3495 g.
on Tue, 11/17/2009 - 13:01
#133357
We don't do precious metals in avoirdupois ounces. 1 ounce troy = 31.1g.
I am Chumbawamba.
on Tue, 11/17/2009 - 02:13
#132864
Found this, silly:
http://www.islandcrisis.net/wp-content/uploads/2009/03/sodomy-in-mauriti...
on Tue, 11/17/2009 - 01:10
#132903
The only market that is never a bubble is the market you are long.
Is gold a bubble? Don't know. What is the appropriate value for something that has value, but not use, because we just say it has value? Right now gold is being valued at somewhere between 11% and 12% of total world GDP. Is this too high or too low?
And is Mauritius the proverbial "shoe shine boy" of Joe Kennedy in 1929?
We'll see.
on Tue, 11/17/2009 - 01:23
#132911
Do you know why I like silver? Because everyone is talking about gold.
on Tue, 11/17/2009 - 09:20
#133075
percent...WISE...
on Tue, 11/17/2009 - 01:56
#132925
I'm thinking now, after the Bernankes, Geithners, and Paulsons of the US have exhausted the middle class blood supply, they're going to need a nice island retreat to hole up while the rest of the world eats itself...maybe Mauritius is on the short list.
on Tue, 11/17/2009 - 02:28
#132934
Interesting, a tax haven for rich Indians is now buying gold...
on Tue, 11/17/2009 - 02:54
#132943
Hasn't anyone considered that Mauritius is no doubt entirely owned by the same folks who own the IMF? Selling Gold to Mauritius is likely just selling Gold to yourself, it hasn't really changed hands at all. Its just likely a means to send a message to the Golbugs to Buy, Buy, Buy and drive the price up further, thereby putting further pressure on the Dollar. It appears to me that this is a concerted effort on a number of fronts to force Bernanke to play his hand and defend the "strong dollar" by raising the fed funds rate. That WOULD unwind the dollar carry trade, and be just spectacular armageddon. Beauty here with this ploy is you never risk the Gold at all, since you are just selling it to yourself Publicly so everybody hears about it.
RE
on Tue, 11/17/2009 - 04:17
#132958
Compare USD/GOLD vs. INR/GOLD or even EUR/GOLD.
on Tue, 11/17/2009 - 06:03
#132982
Don't suppose it would be too much and too language police-ey to suggest that dramatically overused phrases like "spot on", "not so much", and others be replaced with something original?
I mean this is a darned creative bunch and to be subjected to these from such a highly articulate crew irks me.
And while I'm at it in the pet peeves department, could you provide a link to a full-screen shot of the lady from Mauritius? My eyes aren't what they used to be.
on Tue, 11/17/2009 - 12:59
#133351
Spot on Anon. Read the comments you might find a link, or something that may allow you to google it. But as for handing you something like a child... not so much...
on Tue, 11/17/2009 - 07:04
#133001
I am a bit sceptical of the official gold production figures.
China for example may be heavily subsidizing its domestic gold production and filling its coffers secretly with the stuff.It should be no surprise as it is not a free market nation(A bit like the good old USA)
on Tue, 11/17/2009 - 08:46
#133056
HAHA, so now we're taking investment advice from Mauritius? Hilarious!
on Mon, 01/11/2010 - 05:16
#189717
Well, while Mauritius is not perfect it is surely successful in many ways considering the size and the resources of the island. And it is true, why would you take financial advice from us? When your taxpaying money which your governments nicely borrow from you is invested here? we don't mind. Laugh some more and check how much your country is in debt first..
Have a good one!
on Tue, 11/17/2009 - 09:34
#133092
And what happens to gold when the dollar rallies and equities go down ?
http://www.zerohedge.com/forum/market-outlook-0
on Tue, 11/17/2009 - 09:42
#133105
My god people, don't believe everything this Kirby moron says. Looks like there is/was a company in China making gold-plated tungsten products ("except for monetary uses", wink wink):
http://www.tungsten-alloy.com/en/alloy11.htm
That's good stuff, makes every one of you goldbugs shart in your shorts a little... I figure if they did a good job then the bars could be 70% "catalytic convertor metal" and 30% "jewelry material". I have zero faith in the dollar but I refuse to dumbly march into a gold buying frenzy. A friend once said of the gold market: "it's always easier to find a seller than a buyer".
on Tue, 11/17/2009 - 11:46
#133274
HA HA HA...
Now the Chinese government's edict that it's citizens should invest in gold makes sense.
The Chinese goverment is obviously a lot more clever at screwing over it's people than the US gov't (probably because it needs to be).
on Tue, 11/17/2009 - 13:28
#133389
Assuming the tungsten story is true, that means the real supply of gold is less than expected.
Also, prudent buyers of gold bars should be testing their gold upon receipt.
on Tue, 11/17/2009 - 12:15
#133308
How is China screwing it's people by advising them to buy gold again? And does the Chinese government benefit from that screwing?
on Tue, 11/17/2009 - 15:33
#133552
What keeps these various small nations from just being "regime changed"? The US has the means and a rational motive to do so.
on Tue, 11/17/2009 - 16:33
#133650
This tread needs moar pics
on Tue, 11/17/2009 - 19:59
#133903
Ahhh...The mountains of Mauritius.
on Wed, 11/18/2009 - 01:34
#134202
No one can accurately predict the price of gold or anything else. It is obvious that gold is in an uptrend. Getting long and protecting your position with risk management stops is the way to profit. Circle-jerking around the fundamentals is a waste of time. Why ask why? The future will take care of itself.
on Wed, 11/18/2009 - 01:40
#134209
In the title of this article you didn't spell ton properly. A ton is 2,000 pounds but a metric tonne is 2,200 pounds.
on Wed, 11/18/2009 - 09:55
#134391
The tungsten issue may be approaching critical mass. I hope Mauritius had an independent assay done. This was posted yesterday on Ben Fulford's blog:
China has stealthily introduced a new financial system based on the renminbi which is well on its way to becoming fully convertible, according to a high-level Chinese source. In addition, China is purchasing 10,000 tons of gold to back up a new fund designed to develop and market heretofore forbidden and suppressed technologies. The fund will be based outside of China and will be controlled by prominent members of the Chinese overseas community. The gold purchase will take some time because of the logistics of transporting it and the Chinese wish to test it thoroughly. Both the Chinese government and MI6 now confirm reports that much of the gold sold by the Federal Reserve Board over the past decade is in fact gold plated tungsten.
For its part, the renminbi is now convertible with South American currencies, the rouble, Middle-Eastern currencies, the yen, South East Asian currencies and African currencies. “We will slowly introduce our new financial system in parallel with the old one and hope that people steadily migrate towards it,” the Chinese official says.
Meanwhile, the latest G20 meeting ended in acrimony and chaos. The leadership of the West is in total disarray and will remain so until the Federal Reserve Board’s bankruptcy becomes visible even to brainwashed section of the Western public. This is now expected by January or February. Both MI6 and a senior Chinese government source now predict the collapse of the Federal Reserve dollar by that time.
We are also hearing various reports that many Pentagon and other US alphabet suit agency figures with both US and Israeli citizenship have recently fled to Israel. Things are coming to a head.
on Thu, 11/19/2009 - 13:09
#135975
i hope all the women in Mauritania are big breasted girls in bikinis and wearing pigtails...huh what's that about gold....mmmmmm boobies
on Thu, 11/26/2009 - 02:04
#142968
A day will come when we will see the balance tilt in favour of developping countries. How many of you actually realize that the quality of life we live in the western society is just not worth it. It's just too stressful.Chill out people. Is gold worth as much as your life or is your life worth more than gold? You can buy material but not health...so forget gold and enjoy life. Would you still take your mobile phine on your most idyllic holiday of a lifetime, to Mauritius maybe?; in case your business went down overnight? Think. We are all slaves of capitalism; no matter how much money we have, we will never be happy. Our ancestors had to sweat days and nights to bring us peace and harmony to flow with civilization, and yet we still want a reason to fight each other.
Why bury our head in the sand when we all know we can't escape reality. The reality is the US$ is going down and too fast. We all know the world will need to depend on crude oil for another 100 years. Whosoever takes control of the energy market for the next 100 years will dominate the world economy...OPEC is looking at replacing the unstable US dollar very soon and this is why there is a mad rush for the PM....you might soon need a wheelbarrow full of dollars to buy a loaf bread just like we, Mauritians, used to do some three generations ago when we used to be poor. BTW did you know that Mauritius is an volcanic island and has no natural resources whatsoever...we have built the island with our sweat and blood and not from oil unlike any other nation in the world, our only resource is our brain and so we use it wisely.
"When you go to Mauritius, you gather the idea that Mauritius was made first, and then heaven; and that heaven was copied after Mauritius" Mark Twain
US$ Check this out;
http://www.goldprice.org/buying-gold/2006/04/how-much-is-gold.html
on Mon, 01/11/2010 - 02:53
#189698
Nice post. Mauritius is a Birds Of Heaven.You can see Casela Bird Park, In park there are 140 birds species and over 25,000 birds.Mauritius is a best place for holiday especially for bird lovers. September to November is a best time. Experience Fishing Lake in Casela Bird Park.Attractions are Port Louis, Caudan Waterfront, Grand Bay, Pamplemousses garden For more details refer http://www.theearthtraveler.com/birds-of-heaven-called-mauritius.html