This page has been archived and commenting is disabled.
Gold Jumps After China Reveals It Bought Another 19 Tons In July
One month ago, when everyone suspected that the PBOC's dramatic, 57% jump in gold holdings after a 6 year silence, to a "record" 1658 tons would be a "one-and-done" event, meant to facilitate China's admission into the SDR, we disagreed. This is what we said:
... now that the seal has been finally broken after so many years, and since today's update indicates that Chinese gold numbers are clearly goal-seeked with a specific policy purpose - to boost confidence - we await for the PBOC to start leaking incremental gold holding data every month (and especially in months when the market crashes) which will bring us ever closer to what China's true gold holdings are.
One month later, this is precisely what happened, when overnight the People's Bank of China reported that even as the price of gold dropped once more in the month of July after the epic June drubbing (when China supposedly "bought" over 500 tons of gold), it added another 610,000 ounces of the yellow metal, or 1.1%, bringing its total to 53,930,000 ounces, or 1677 tons of gold.
Our view on China's disclosure (if not accumulation: this has already happened and now the PBOC is merely picking the right moments to gradually reveal what its true gold holdings are) of gold have not changed: expect every month to see a modest, incremental increase in its gold holdings.
And while last month, the market took China's announcement as a disappointing update - speculation had been rife that China has over 3,000 tons of gold - today the market is slowly waking up to what we said a month ago, namely that China's official gold holdings are far greater than what is revealed and that the PBOC will simply keep increasing month after month, now that both FX and gold play a very specific policy role in what everyone now realizes is a global currency war.
Sure enough:
CHINA BUYS ~19 TONS OF GOLD IN JULY.
Gold up 0.2% in London at $1,116.73/oz.
http://t.co/npB9KrIeHy pic.twitter.com/E7AS1CmNcs
— Eddie van der Walt (@EdVanDerWalt) August 14, 2015
And:
Putting what China has just done in very simple context: China announces an increase in its gold holdings of over 58% in the past two months... and then this past week it devalues its currency by nearly 5% in just three days.
Even the most brainwashed Keynesians should be able to figure out what is going on by now.
One wonders how long until millions of Chinese citizens, badly burned on the stock market bubble, decide it is time to put their savings in gold once again.
But while none of this comes as a surprise to us, or our readers, what was perhaps more notable, was the latest plunge in Chinese FX reserves, which tumbled from $3.694 billion to $3.651 billion, suggesting in July China sold, via Belgium, another $40 billion or so in Treasurys just before China announced its devaluation. Expect confirmation of the recent Treasury selloff by "Belgium" when the Treasury releases its next TIC data update.
»
- 106692 reads
- Printer-friendly version
- Send to friend
- advertisements -
i believe! it must be true cause china said so, lol....
All Government lie, this is who they are, Liars.
BTW, I am still waiting for the US Government to release its latest Audit of Fort Knox Gold....last one I believe was in 1956?
Ok, so they're buying tons of gold, so what? What else are they going to do with that astronomical trade imbalance they have with everyone else? Buy food....or guns?
Farm land in other countries and export the produce back to China.
China's govt will never give up control of the monetary system to gold, the US has a better chance of taking steps toward sound money. Chinese govt gold holdings are all about control, not economic freedom. I do see these gold increase announcements coming out regularly from the Chinese from now on.
the US has a better chance of taking steps toward sound money.
Bitch please...
0.2%? Sorry, but ZH loses credability with articles like this. It's would be enough to just report the fact that they bought gold. There is no need to claim gold "jumped".
When China says jump, gold will ask how high?
With a cycle Asian and EM currency devaluation started by China's deval, Asian and EM retail buyers are going to light the physical gold and silver market as their primary protection against debased currency.
China's incremental c.b. buying of gold will be a smal fraction of the retail demand.
China is obviously pissed off it was not included in the SDR
The manipulation remains clear. Any upside moves in PM's being "Sat on" by "Someone:". IMHO, Gold is so important to the overall "System" and the PM "Market" is so small in relation to other "Markets" such as FX and Derivatives, that "They" will fight this one to the end. Until the whole system collapses.
"" I am still waiting for the US Government to release its latest Audit of Fort Knox Gold....last one I believe was in 1956? ""
Don't Forget That GOLD "Oxydizes" Rapidly, So Much Of The GOLD In FT-Knox Has "Naturally" Dissipated...
Gold does not "rapidly oxidize". That's why it has been a good store of value long term.
Our gold is exceptional, it does oxidize. So rapidly that it almost seems to vaporize.
500 + 19 tons in 2 months. Remind me how long it is taking for Germany to get how many tons back?
It’s really sweet that the finance industry created the paper synthetics which allows the banks and Chinese to suppress the price of the metal in dollars while the physical is scooped up by the Chinese, Russians and other smart folks.
Take advantage of it while it lasts.. build your physical reserves, but lose it in the lake.
This will come to an ignominious end one day.
If the US Government declares that Gold rapidly oxidizes then the people will believe it.
Since they can rewrite the laws of Physics and Metallurgy then they can rewrite the principles of Chemistry with no problem.
(Hint: Your response was to a post that was obvious satire.)
The price of gold in USD certainly isn't going to go up when the PBoC reveals its real level of holdings. The next big move needs to come from the Fed now.
Talking about "prices" in a market that has no true price discovery is moronic.
Creating credits out of nothing to buy real assets is fucking brilliant.
stupid sheep.
Actually, those credits WERE created with SOMETHING.
(Millions of trees were harmed in the making of this commercial venture)
Hey, kid! I'll give you a bunch of strips of paper with pics of dead guys and a bunch of numbers on them for your (insert real asset here). NO? Well, I can always print MOAR...
No trees are required to enter digits on a computer dude.
Fucking ZH ate my comment..
except part where it call somebodies bluff..
kinda automatic mines on the table, where's yours?
whew!.....you ever listen to yourself?
be quiet and study what you said there...
I hate to get on one side of an argument when really all I'm trying to do is question the consensus in the alternative financial media that the upcoming monetary shift will see the US getting taught a lesson by the Chinese and Russians. I don't necessarily think there isn't a chance of that, only that it isn't a given as outlined here. Think about it, less than a year ago the Russians had a currency crisis and nearly slipped into hyperinflation, the Chinese had a stock market crash that saw more intervention to halt than has ever been seen, and has since devalued its currency by 5 %. According to the Alt financial media this is the kind of stuff the US is supposed to be doing not the 'good guy' Russians and Chinese. I think some of the alt financial medias' conclusion that the US is going to fall is a need for retribution for financial profligacy rather than sound analysis of history and current events. Put some of the scepticism we aim at the main-stream media at alternative media.
Here is an example of how we need to be more critical of alt financial media. Shadow stats is often quoted, and though I think inflation statistics are understated this piece proves that shadow stats is far more wrong to the upside than CPI is to the downside. Essentially John Williams just makes up numbers, and I am coming to the conclusion he is nothing more than a snake oil salesman.
http://www.economonitor.com/dolanecon/2015/03/31/deconstructing-shadowst...
I do study the facts, and come to what I believe are rational conclusions. Are you doing the same?
ls the Chapwood Index is wrong as well?
http://www.chapwoodindex.com/
Yeah probably. Please read Ed Dolan's rebuttal to shadow stats. CPI does understate inflation but likely in the 1-2% range. There is inflation from money printing but mainly in asset prices or it has been exported to places like China.
ed dolan the ivy league guy?
don't know...but those normally source of those paid turn out the false stats
I'm just asking for you to objectively look at the data. I thought the shadow stats were an actual inflation calculation based on the old methodology not just taking CPI and adding an arbitrary number to it. I was very disappointed but I would rather know the truth.
Chapwood prices stuff that the middle class uses. As this stuff goes up, living standards fall as ppl are priced out.
But keep looking at Wal-Mart store brand Mac and cheese for inflation. Cuz when that starts going up then by golly our living standards are fallin. Until then smooth sailing sarc
Sounds good but I was disheartened when I learned how shadow stats calculated its inflation rates and when I went to Chapwood's site the rates were similar. I've been burned and am now sceptical of alternative inflation calculations just as much as I am the CPI.
I guess none of us are smart enough to "objectively look at the data". But we're smart enough to subjectively look at our grocery bills. And believe me, they aren't going up by 1, or 3, or 5% per annum. Closer to 20% rings true.
If you don't know that, you don't buy groceries.
Perfect we'll do it your way. The average milk price in 2005 was $3.10, but hey lets make it 2 bucks to err on your side. Now let's apply your 20% inflation, that would make milk $12.38 today, and if we actually go with real price in 2005 of $3.10 it would be $19.19 now. Ok I'll use my own memory. In 1995 I would come home from wrestling practice and stop at wawa, grab a candy bar, and it was 50 cents. With Shadowstats inflation of 8.5% it should be over 2.50, but it's less than a buck, and while there might have been some downsizing not to this extent. Your 20% inflation would yield a 19 dollar candy bar.
Again I think CPI understates inflation but to say things like we have 20% food inflation is beyond ridiculous with some simple number crunching.
OH - it's a given alright - Put simply China manufactures - Russia sell resources - Zionist/US does 'perpetual' WAR and frankly the EAST is sick of it - The future order of the world will be Yellow - Black - White - That my friend is a certainty !
Yellow, black, white. That's a ranking? A ranking of what? Just want to clarify.
Craptain Pimpcrash is here...yay
I judge inflation based on my own expenses. Right now the big ones are electricity, diesel, healthcare, and education.. All of them of been steadily increasing at about 5-15% per year, so please, go fuck yourself.
Here's the spot price of diesel over the past year:
http://www.indexmundi.com/commodities/?commodity=diesel&months=12
Yeah that's a 40% drop in 1 year. Again I don't want to get on one side of the argument considering I think CPI is understated but when one of your points is so clearly wrong, even without doing any research, I don't have any choice but to call you out. Yours is exactly the kind of analysis that is the problem in the alt financial media, and hurts its credibility. Down arrow away.
Ps if your diesel cost is up over the past year you may want to go to a different station.
cute...but kinda obvious he told some main expenses on his mind that whole
group aggregate inflate in that range he estimate
next choose highest and make picky how he wrong that way, also
cos you no choice but call him out cos more genius
or understand he probable knows diesel prices as careful as you
Hey asshat, we have been farming for 100+ years!
Short term versus long term thinking again.
I guess I would rather see myself and family successful for 100+ years and not just one.
Again, you are a moron.
Ok again I don't want to get on the "there is no inflation" side. There is inflation, it is very high in financial assets, it is understated by the CPI, BUT SHADOW STATS DON'T USE A CORRECT METHODOLOGY. If you could even call arbitrarily adding to the CPI a methodology. I am just interested in the true inflation statistics, and its frustrating that you can't get them, from the government or shadow stats!
yeh and wait for us$ become sound money system is rational when?
can someone tell when it was last?
before states war? jackson money system stable
hard precious metal holding is stability opposite is debasement as fall of rome
remember Chine used silver long years...how much is chine, russian silver?
"Think about it, less than a year ago the Russians had a currency crisis and nearly slipped into hyperinflation, the Chinese had a stock market crash that saw more intervention to halt than has ever been seen, and has since devalued its currency by 5 %. According to the Alt financial media this is the kind of stuff the US is supposed to be doing not the 'good guy' Russians and Chinese."
so there's no chance that the US had anything to do with, contributed to or instigated the Russian and Chinese market collapses? we are in a global economic war. have been for a while. unfortunately, these things typically go hot at some point. now that the global economy is cleaarly going down into a deep recession, what will be the next steps?
"I do study the facts, and come to what I believe are rational conclusions. Are you doing the same?"
I usually do except when discussing things with my wife.
I wouldn't put a lot of faith in anything the Chinese government says, or does. My favorite line from David Stockman's post today:
"China' leaders are neither wise nor deft economic managers. In fact, they are a bunch of communist party political hacks who have an iron grip on state power because China is a crude dictatorship. But their grasp of the fundamentals of economic law and sound finance can not even be described as negligible; it’s non-existent."
Also, it sure doesn't seem the Chinese themselves put too much faith in their government's wisdom in view of the massive capital flight currently going on there.
Gold mines. Already doing this.
A wearhouse is EMPTY, until PROVEN full.
A Gold Vault is a warehouse !
Got pictures of the inside of Fort Knox?
Yeah....I didn't think so.
… I don’t need any - I just put on “Goldfinger”
You can SEE all of America’s wealth !
`
Shush We are still working on the photoshoped pictures of the "inventory".
Gold plated tungsten doesn't need to be photoshopped
Still has to be made......and it's harder than it looks.
Wearhouse? Your lack of spelling capability detracts from your intellectual argument.
Wearhouse? Proof our education system sucks.........yes, it is one of my pet peeves.......
Whooowoo!
Wear ware wars!
Well, they wore it out removing all the gold years ago...
Beowulf on your biography it says "unconvential"
Let he who is perfect cast the first stone.
unconventional spelling either shows lack of education or misunderstanding of the "massage."
Yet on YOUR BIOGRAPHY you write, and I quote, "I am the nail that will not be hammered down, anarchist boyscout, unconvential student of life, jack of all trades and master of none, and a killer zombies at a 1,000 yards."
First...Just what does the symbols, "unconvential" mean...as it is NOT a word?
Next...I was not aware that killer zombies are singular as zombies is the plural of zombie. Yet you use the adjective "a" to describe a group....unless you actually meant "a killer OF zombies".
Finally...Are you that fucking slow?
LOOK IN THE FUCKING MIRROR.
Your argument is so damned hypocritical and lame. Thus you damage any shred of credibility which you might have had.
When I was a kid I kept spelling it "wharehouse".
Someone has seen too many ads for men's wearhouse. Those pesky homonyms!
https://www.fiscal.treasury.gov/fsreports/rpt/goldRpt/current_report.htm
I'm thinkin' 1953
We've had several audits since 1956 but our dog ate them.
China is pissed off big style. Its communique on the purchase of the below-significance-level qty of 19t of gold in a month is a clear warning to the US/IMF: "Don't believe you can fuck with us you did last week!"
(Has nothing to do with lies/truth-nonsense. Goverments always lie, otherwise they wouldn't be governements)
You can't trust any of their numbers so why would this be treated any different
yeah tell me about it... this is another article & associated thread where the yankee-go-home crowd sits around telling the same old lies and bullshit about how the USA has no gold and doesn't manufacture anything... another short-bus crowd circle jerk...
They don't !
like I said... bullshit assertions with no backing... prove it or stfu
Is the article correct abot China foreign currency reserves?
Must mean trillion instead of billion?
I'm beginning to think that China's leadership is caught between their desire for internal and external control.
They could back their currency with gold and go full on free-market, human rights Jeffersonian Republic. If they did, they would take the place America held after WWII.
But the commie mentality of controling every breath taken by every citizen from cradle to grave is simply too heady a drug for the sociopaths running the place to be able to give up.
So we get this schizophrenic weird hybrid of sensible economic activity mixed with control freak nonsense.
Yet another barbaric development.
Wow, they have 60 billion dollars worth of gold.... Put another way $50 worth for every person in China. They are absolutely on the verge of a gold backed currency yep... NOT....
Put another way, Greece would blow through Chinas entire Gold holding in 6 months.
I like gold, I own gold, my average price being late to the party is around $1300. I will add to that when it hits 900, and every 100 less.
Gold is money, not fiat, what gold buys in physical goods (corn, Oil, Copper) are going down, Gold has to also go down.
At some point however, the price of Gold in Fiat has to skyrocket, as the end times draw near. What would be interesting to see is a graph of Gold versus a basket of commodities, on that graph gold has exploded, but I believe still over valued.
this may not be exactly what you want but it has graphs of gold against commodities
http://pricedingold.com/wheat/
I wish I was so confident like you about timing and price. Ignorance is bliss.
This may be the most intelligent fact based statement I've seen on ZH in months.
You can't print GOLD - EU is printing 60 billion a month - the FED never stops printing - Japan ditto ! You won't be able to 'print' your way out of what is coming - Rothschild's favour the EAST now !!! US will crash and burn - all indications are that they are preparing for it !
Gold is up a bit today. It hasn't jumped.
Thank God. I'm not done buying!
Yeah. Gotta have the click bait headlines. When it moves $50 to $75 at the opening, then I'll say "Wowzie!! Look at that jump"
I really could not care less how much China has. Its more what the west doesn't have!
It does not mater who has what
What does mater is how much a country has that is unencumbered
That = Gold
mr xau xag --- gosh dog dingitty your comment made me mater than a wet hen.
It is the same with a House, Farm, Car or Truck etc
Many people LOOK WEALTHY.................but are they....................Debt can be a Killer at the wrong time.
"Debt can be a Killer at the wrong time"
that's why i stay out of debt at all times
A little sidebar:
The guy I work for, makes almost twice my salary. He's in an unhappy marriage, and looking to refi his house, so he can pay off unsecured debt, sell the house, and make a break for freedom from wifey.
Right as he's about to get the loan, a timeshare company (which his wife pushed for, but he cosigned on), flagged his credit report for a delinquent account. Turns out, wifey hasn't paid on it, in over a year.
Now, this is jeopardizing the whole deal for the loan, which means he's more or less stuck. The timeshare company definitely violated the FDCPA, but that doesn't change the fact that he's basically locked-in-place, pending an outcome which could take months (or years).
"Debt can be a killer at the wrong time"?
AMEN, brother.
Here's a free lesson to all you young bucks:
It's not a "serious relationship", until after you've been married for 10 years. Even when it is serious, you have to have an emergency fund, that gives you:
1. The ability to get restarted, if 'life turns sour' for a bit.
2. A free pass against being raped by the court system, in a divorce/custody proceeding. - They can't take it from you, if they don't know about it.
3. Emergency funds, in case of...emergencies.
Same rule applies to the ladies reading this. The people you should be able to trust the most, are often the ones who break your heart the worst.
Rule #1 isn't: You don't talk about Fight Club. - Rule #1 is: "You DO be self-sufficient".
"Turns out, wifey hasn't paid on it, in over a year."
arghh
Bitcoin fits this use case perfectly.
Possession is 9/10th of the law. It really doesn't matter if it's encumbered if you have nukes. It only matters who is holding it.
For individuals, yes, gold must be owned unencumbered, but govt it doesn't matter. IF the US, or US vaults hold 11000+ tons of their's and others' gold they will claim it no matter who "owns" it. IF that's the case, they'll be relatively well off.
If they want a currency war, then give them a curency war. Slap 20% Tarrifs on all there goods. Just be done with it and America will be 100% better in 10 years.
You think USA can wait 10 years?
Shit show will blow up within 2 years
JMHO
Now their is a brilliant comment.
Lmao I seen what you did there, or is it their?
They're just having fun with spelling.
I think you mean "there just having fun with spelling." FIFY
https://en.wikipedia.org/wiki/Fordney%E2%80%93McCumber_Tariff
That only works if you have an industrial base left.So twenty years to catch up to
where China is now.A stern chase is a long chase,rarely won..
Don't worry. Once living standards, wages, and currency have been crushed manufacturing will explode higher as mfg once again returns... But will it return to the once sought after "made in america" or with disdain ugh more low quality cheap junk from america.
Look at the quality craftsmen who remain in the country. A properly made axe from Council Tool costs around 200 dollars, while the Chinese axes can be had for 5-30. Knives are about the same and there is much more competition between the makers and not a lot of costs (many of them operate from a garage and the skill involved is actually quite low).
I think that's another form of invisible inflation, all the junk out there that people think has no higher costs. But we might see those debts coming in over the next few years.
Knives are a bad comparison, there is a lot of hype involved. Stainless steel knives are universally garbage, in my humble opinion, and that's what all the expensive ones are made of. When you (re)discover high-carbon steel, you'll find that all the good knives are cheap. Mora for example. Under 20 bucks for an awesome tool. High-C steel rusts easily, but is easy to put a razor's edge on, you can do it on a stone you pick up in the bush. Stainless is very difficult to sharpen well.
Axes, craftsmanship is more at a premium. The best ones, in my experience, come from the Nordic countries. But theres some very good ones come from El Salvador, as it happens, Condor. They also make possibly the best throwing knife around. And quite reasonably priced (good axe for $60-70).
US can supply cheap plastic trinkets to China and Russia. Now there's an economic plan.
I really think people are clueless as to how much we get away with because of the reserve currency/petrodollar thing. When they go, it won't be a gentle slide into oblivion, it will be the curtain coming down. When empires fall, they don't recover for a long, long time, I can't think of any empire offhand that has fallen and then recovered to its former status, even thousands of years later.
We cannot put tariffs on China because Obama got us into the TPP and such moves would have to be approved - by China!
19 tons is a rather small amount. That's under $700 million worth of gold. China has FX reserves of $3,651,000 million.
The Chinese public is buying at a rate of 80 tons a month. The Indian public is buying at a rate of 60 to 70 tons a month.
Yes, unfortunately their governments have and will kill their own citizens and take all that gold. That's the fundmental problem. Unfortunately, all governments seem to be going to the same endpoint.
Same as it ever was.
Russia purchased 880,000 ounces
That's 24,947,580 grams! Much more impressive, no?
Tinky
Thats like say I have a 200mm snake, instead of 8 inches
Now the key is what does the broad understand mm or inches?
Ounces or grams?
You need to recharge the batteries powering your sarcasm detector, XX.
I could have one that long, but I refuse to fold it in half.
Yes Winston
Used that line ..................many a time! Made me smile.
A girl in a nightclub asked one of my mates what he was wearing (as in smell) as he smelt nice.
His reply was a Hard on but he thought she would not be able to smell it from there!
We all fell about laughing.............................she was not impressed though. LOL
I knew a genie with a ten foot weenie, he showed it to the lady next door. The lady thought it was a snake, then she hit it with a rake, and now it's only five-foot-four.
I know it as
our boy Billy has a ten foot willy and he showed it to the girl next door
She thought it was a snake, so she hit it with a rake
and now it's only five feet four
Whew, Here I was feeling inadequate about 3 inches until your post. Now I realize you all are talking length, not width.
It's not the length that counts.........................it's the Breadth
There was a time, when all it took to keep a woman happy was just under 6 inches, with a picture of Ben Franklin on it. Now if you have 3" with American Express stamped on it, you are set to go.
Long and thin goes too far in, and irritates the ladies. Short and thick does the trick, and manufactures babies.
I did not need to know that.
"I did not need to know that."
It's Funny Friday.........................in the UK
Guess USA......................not so much.
Humorless as most Swedes.
Give me Dave Allen anyday.
Got Dave Allen on CD
Used to watch him all the time when he was on the TV many moons ago.
Very funny guy and he timming was great.
Hyperinflation?
Yeah just go to silverdoctors. Production and imports are in measley tons whereas demand is in incredible ounces.
Wow, 19 tons .... that's more than some countries HAVE .... like the US, Canada, England, Germany .... my Italy is pushin'.... or has passed .... 4,000 tons .... they have to store it in the hallways ?
Hey, relax. No need to worry about Italy's gold. Most of it is safely stored at the Fed. Oh wait ...
More like the European GDP sucked a goose egg and the global depression caused by inept governments is why gold is rising once again.
This was already known a week ago when they disclosed their official reserves. The gold spike cannot be related to this.
"I really could not care less how much China has. Its more what the west doesn't have!"
Since gold is a finite commodity, what China has, directly influences how much is left to the West. So yes, you do care, and so do most others, because if China indeed has about 10000 tons, it means that USA does not!
That also means that all we have been told has been lies. It is easy, audit the FED! This is so simple and easy, until it happens we have to believe they are lying. When they do the audit, we will know for certain.
Gold will be the last man standing, in spite of Armstrong et al!
The FED is up the creek with no paddle, and they know it.
Sometimes I think they pay Armstrong.
All of China's gold went up in smoke with the Tianjin explosion, of course they had to buy more.............
up in smoke with the Tianjin explosion
The Revenge of The Uyghurs:
It has been a long time coming after decades of repeated slaughter at the hands of the Chinese government, the Uyghurs just took their revenge. The Binhai area of the TEDA region in the port city of Tianjin was shaken by repeated explosions as the chemical plants and fuel depots in the region succumbed to attacks by the islamists of the Xinjiang region of China.
A well planned and executed attack by the muslims from the islamic dominated areas of ...China have long been predicted and the recent moves on the part of the Xi Jinping led communist government of the Peoples Republic of China to capture, kill or imprison the leaders of the continuous muslim unrest are reaping their reward.
Regardless of what the worlds communist sympathizing media is fed and regurgitates on behalf of the ruling Chinese regime, be aware of the truth of the past days events in China. The warring Uyghurs have been repressed in the traditional Han Chinese way through infiltration, intermarriage and marginalization. The generational approach to the destruction of any peoples group that stood in the way has worked in every area of the Peoples Republic with the exception of those dominated by islam.
An internal war in China has just been declared.
Are you working for overseas office for ISIS?
Nothing unifies a people and provides cover for theft like war.
Same as t ever was...
Are you working for overseas office for ISIS?
No, I work for me.....independent from the KGB or the CIA.
Say hello to everyone in Moscow for me.....and inform them their intel sucks.
Sounds like you're more likely working for the NSA/MIC, whether you know it or not.
It was the muzzies! We gotta kill them all! Then we'll be safe!
Ever heard of a false flag?
Classic zio tactic is to weaken a strong government by civil war. Libya, Syria, Egypt, Iraq. Easily brought about by false flag attacks.
If that's a jump - must be the Paris, Kentucky jump and not the Paris France one. (google thong paris kentucky).
I guess we have different versions of what jump is.
@gmak
yes a Jump = a Hump........................in some parts of the world
The fiat Ponzi crapper of the shaman banksters of the Anglo Empire of Chao$ is imploding and there is nothing that USSA can do other than Civil War reloaded as the foodstamp Wallmart "economy" unwinds or blow up the entire planet in WW3 out of pure spite.
Onward to the future we "bought" on tick!
So, when gold is up 0.2% it's a jump and when it's up 0.5% is soaring???
Poor poor goldbugz. Their investment is down 40% from all time high! Imagine what would ZH write if stocks would be 40% down. If AAPL is down 3% the tittle is "Apple is crashing"
:)
It's funny that if someone had bought a piece of property at the peak and it's current value is down 40%, people would be laughing at them that they made a bad investment.
But to a goldbug, the same 40% drop is just shrugged off because they say gold is "insurance", not an investment.
You're pretty confident that everyone that has gold here only bought at the peak, none before or none in the last couple years. Gold is not insurance, it is money. And it still will be when paper money collapses, just like every other time in human history. Is that time soon? Quite possibly.
It really doesn't matter when you bought it if your are using it as a TRUE HEDGE.
I doubt I will ever sell my physical holdings in my life time. It's a last resort sort of thing. It allows me to keep playing in the pool knowing I have a safety net if things should go awry.
(If you are hedging against your wealth, and your wealth keeps increasing, you keep adding gold to your pile regardless of the price. It's nice to be ms cleo and know when the bottom is, but if you are not psychic, then the next best strategy is to just buy a little at a time. Sure that will mean that some trades are not the best, but if you are buying it this way, than you bought when it was VERY LOW as well, mittigating the hurt.)
One thing is for sure: peak has been defined in dollars, not supply. Compare the physical supply of gold (pretty darned restrained) compared to the physical supply of paper currency (not restrained too much, I'd say). Now, we consider the law of supply and demand, without the purposely manipulated markets. You will come to appreciate gold, as it has been throughout history, when the manipulation of its price no longer works.
It's the obvious manipulation that has made me buy the gold in the first place.
The key here is to spread out your risks. Have your feet in a bit of everything. Realestate, gold, cash, heavy equipment... etc...
If you are buying PHYSICAL metals as an investment vechicle, than you probably have not heard of the internet yet.
Most gold is bought as insurance, in case the unthinkable happens. Most people limit this risk to 10 or 20% of their holdings. So a 40% swing means nothing, it is a hedge.
I own gold only so that I can sleep at night knowing that fools are rigging and manipulating the market. One day the shananigans may be so bad, that the only thing that keeps me above water is the 10-20% I kept of the global gambling table.
(The truth is none of us know what will happen in the future, it's foolish to think we do, but that does not mean we should not put ourselves in a position to be able to take on all eventualities, including a global currency reset where those stuck in banking vechicles take a serious hair cut.)
If you are putting 100% into gold, you have serious problems. (It may work out for you... but it may not)
Judging by history its not insurance, but assurance.
Physical Metals are a poor investment if you are trying to hit one out of the park. I only buy them as a risk managment and a sleeping aid. I am sure that is why China bought the 19 tons. (It's about divirisification and risk managment, not some stupid conspiracy to go on the gold standard, lol)
correct
offers some peace of mind confidence future way to afford needs in troubles
gold is money silver also....
and outlived how many currencies?
Exaclty. It all about TIMING. That gold may very well soar at some point, maybe even soon, doesn't mean much for people who follow ZH and have been long gold and short stocks over the last few years.
Well first of, I don't consider mine an investment per se, and secondly The majority of my asset is an "insurance policy" and still up about 400%
So your assumption that gold is a conventional investment is wrong
Your assumption that every one bought their gold at the exact altime high or even recently is wrong
Your assumption that gold bugs somehow now feel poor is wrong
Your assumtion that Apple cannot fall 40% is wrong
Your assumption that people who have taken a percentage of their wealth and have secured some level of a guarateed financial future for their families is a bad thing is wrong.
And last but not least, your assumtion that people that hold gold are bugs is wrong stockroach.
Better keep that bag on your wrong head.
+1000
cowdiddly..............................you knocked that one out of the Park!
Tell us oh wise one. What should we buy today? We'll track your prediction for you.