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Goldman Hikes Its 12 Month Gold Price Target From $1,735 To $1,830
The first of many gold price upgrades is here, as Goldman's David Greely finally catches on to what has been all too obvious to anyone with a frontal lobe: "Gold prices hit a new record high last week, closing at $1,663/toz on August 3. Despite this rally, the rise in gold prices has continued to lag the plunge in US real interest rates, with 10-year TIPS yields trading below 30 bp. With our US economics team lowering their outlook for US economic growth, implying US real rates will remain lower for longer, and with sovereign debt issues in both the United States and Europe intensifying, we are raising our gold price forecasts to $1,645/toz, $1,730/toz, and $1,860/toz on a 3, 6, and 12-month horizon, respectively." Next up: everyone else.
Note summary:
Gold prices rise to record high as 10-year US TIPS yields plunge to a record low
Gold prices have rallied strongly since the beginning of July, rising 12.2% to a record (nominal) high close of $1,663/toz on August 3. While the rise in gold prices has been sharp, it continues to trail the fall in US real interest rates. In particular, 10-year US TIPS yields plunged from 77 bp to a mere 24 bp over the same period, according to the US Federal Reserve. Consequently, despite this rally to yet another new record (nominal) high, we believe that gold prices will continue to rise as: a) 10-year US TIPS yields are at an historic low; b) a diminished outlook for US economic growth suggests US real rates will remain lower for longer; c) gold prices in inflation-adjusted terms remain well-below their 1980 highs; and d) sovereign debt concerns have intensified in the United States and Europe.
Raising our gold price forecasts as the diminished outlook for US economic growth suggests US real interest rates will remain lower for longer
We had expected gold prices would continue to rise through the middle of 2012, when we expected rising US economic growth would push real rates higher and gold prices lower. However, with our US economics team now lowering their outlook for US economic growth to 1.7% in 2011 and 2.1% in 2012, we now expect real interest rates will remain lower for longer, and we are now raising our gold price forecasts to $1,645/toz, $1,730/toz, and $1,860/toz on a 3, 6, and 12-month horizon, up from our prior forecasts of $1,565/toz, $1,635/toz, and $1,730/toz, respectively. Net, this revision in effect pulls forward the higher prices we expected on a 6 and 12-month horizon – as US economic growth has been slower, and US real interest rates lower, than previously anticipated – and extends the upward trajectory for gold prices through 2012. Further, the recent escalation of sovereign debt concerns suggests that the near-term risk to our new forecast is skewed to the upside, and we continue to recommend long trading positions in gold.
And full note:
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Welcome to the recovery:
http://www.youtube.com/watch?v=YatFF37gSBo
Blythe Masters (the Master Metal Manipulator) now has a blog, and she's quite full of herself. She needs to be savaged by filthy trolls:
http://blythemasters.blogspot.com/
You know, JPMorgan is also recommending long gold. Considering Rothscum and Co. have been amassing gold for hundreds of years, I'd say they've decided to pull the trigger on the recalcitrant politicians in DC. HSBC (you know, the bank founded by Sassoon and Rothscum to finance their opium trade) has been allowed into China's new gold trading hub.
All in all, I think Amerika is royally phucked.
I checked that link and I was surprized. Her outfit in the first picture is the same with either my mom's tablecloth or her curtains. I am not sure.
She's definitely being ravaged by quite a few filthy trolls.
As she should be. She's def one of the people I want to see visiting Maddoff.
My comment on Blythe's site:
Blyhte, Blythe, Blythe... so you hang out with Rothscum & Co., huh? Fucking scumnbags.. we'll be coming for you banksters soon, bitches you hear me????? we're coming for you fascist scum!!!!!
lmfao
Blythe will be among the list of those scared for their lives if this is the moment in our history where the world wakes up to physical. Once the masses turn for Silver and Gold coins and bullion there wont be any stopping it until the fraud of SLV & GLD and all other fractional reserve based precious metal holdings are exposed to the light of day.
ETF's are derivatives. they will eventually blow up in smoke
Paper can only be rubbed before it burns.
Now a woman.....
That is hilarious. She must be needing to put herself out there for when the whole manipulation of PMs blow up and she looses her job.
The Empire will stike back with Darth Blythe. They will lose, but they will try to blow everything up in the process.
Metal in your hand..... bank on it.
Ray1968,
Like your handle soul brutha.........
yes, you are correct..................................Smoke on the Water.
Wait till a.m., the Vamp will nail this biatch quick............it MUST go above $1,720 before a.m., or they will knock it back to $1,675.
Silver will get creamed as usual...........but they will suck in a few longs first.
Her blog is amazing in its degree of self-promotion. It is a big, long, self-aggrandizing advertisement for Blythe Masters. In short, it is her resume.
All the more reason to troll-pile her while she's too busy to babysit her blog. Let the world see that she has provoked the wrath of the little people. Her potential employers may give her points for screwing us but she will lose more points for letting us figure it out. Let's make sure her best career option involves making casts of her vagina with molten 1000-oz COMEX bars. They would make great table centerpieces.
Blythe that waspish shrew. Her eyes carious and yellow. That rue-bitten Queen of the Harpies.
$1,830.00 hoocoodanode?
I suppose if they keep guessing they'll be right some day.
At $1690 they are raising their 3 month outlook to $1645? Give em a loser's ribbon for participation.
The high tonite: $1701+/Toz.
Blythe gives me the horn ...
Canaries...coal mines...
The Canaries died 5-AUG-2011
Yeah.
But what sucks will be the rebuilding. If one thinks there is hard feelings now, just wait till some are informed their services are no longer needed...the gravy train is over and they will have to actually do something productive.
Let the rending of clothes & gnashing of teeth commence ;-)
Bill Gross just said live on bloomberg that Japan is AAA when it is AA-, the king of the bond world, what an idiot.
I wish I had it on tape.
"...on the tape"
I'd imagine you will presently.
I will try and get it on my Youtube channel here- http://www.youtube.com/user/FreeGoldObserver
That's interesting; stress disorder?
Heads will roll...
http://www.youtube.com/watch?v=auzfTPp4moA
Time to sharpen up the Batt'leth
Ok tyler, for the love of god, sign up for cloudflare for zerohedge. It's only $20 a month and it will help all this damn congestion.
Cloudflare.com. Now. Please.
Does that work?
Yes. I use it for a very high traffic site. It's an awesome service.
I just clicked on it and it wouldn't load the page... sorry but true. It also went to https for some reason.
I used to work for these folks http://www.enki.co/
excellent systems
Thanks; I bookmarked this; will check it out.
For the Communist Party USA?
Communist porn site.
Looks like I picked the wrong week to wait for a dip.
I couldn't help it........
http://www.youtube.com/watch?v=GeI5ke0BENw
LOL! "it's coming right at us!"
IMHO, $2830 is a more reasonable target.
Someday I will be as smart as the monkeys at Goolsmen Sucks. Bitchessss
And of course, never underestimate the retardation of your fellow market partisipants. The downgraded debt is rallying, just like I thought.
Knowing that before time would have been beneficial. Have you got a website I can subscribe to?
Look at my comments a few threads ago.
Actually, I have a Youtube channel called FreeGoldObserver. New material coming soon.
http://www.youtube.com/user/FreeGoldObserver
and on that video, I try and explain freegold to Peter Schiff but Ned Naylor Leyland seen my call with Schiff and expanded on in when he was talking about the Pan Asain Gold Exchange on Max Keiser's show.
Gotta re-post this since it's pertinent... keep the PM faith!
“Gold has proven to be a superman investment. It can leap over buildings and do things that investments aren’t supposed to do. And it’s laughing at us."
Dennis Gartman agreed: "Ask the average Wall Street wiseguy if they’re bullish on gold. They’ll say, ‘Yeah, you gotta be, we got money problems [with the dollar].’ If you ask them how many hold gold? 'Very few,' " which is where he sees a weakness and potential for an overvalued asset. “It’s a bubble in interest, not in owning," he said, "It’s fascinating: Everybody’s bullish, but very few are long."
(Emphasis added)....... There is a bubble in interest! See? Even Gartman can be right once in a while.
GOLD IS LAUGHING AT US
I like it, thanks for that.
Anyway here is that video of a good market call I made..
http://www.youtube.com/watch?v=U_-8cqD4BWU&feature=channel_video_title
Or as the Japanese say;
CroudFrare. Now. Prease.
^^ this
Too much traffic as all the other news sites are shit and nobody knows what's up.
"The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default"
said Greenspan on NBC's Meet the Press
He didnt say what the value of that printed money would be though..
Ok...so I got wordy ;-)
He's right to a certain extent.
The debt is owed in dollars. They can print dollars. They never said that a dollar would be valued at less than a penny when the debt was repaid. Unfortunately, if you or I print a dollar to pay off my debt I go to jail...lol.
Its kinda like you loaning me a cow with my promise to repay you with a cow plus another cow and I give you two rotting dead cows ;-)
I know you know the above...just bringing the newbs up to speed.
Greenspan himself explained it pretty well in 1966:
Under a gold standard, the amount of credit that an economy can support is determined by the economy's tangible assets, since every credit instrument is ultimately a claim on some tangible asset. But government bonds are not backed by tangible wealth, only by the government's promise to pay out of future tax revenues, and cannot easily be absorbed by the financial markets. A large volume of new government bonds can be sold to the public only at progressively higher interest rates. Thus, government deficit spending under a gold standard is severely limited. The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit. They have created paper reserves in the form of government bonds which-through a complex series of steps-the banks accept in place of tangible assets and treat as if they were an actual deposit, i.e., as the equivalent of what was formerly a deposit of gold. The holder of a government bond or of a bank deposit created by paper reserves believes that he has a valid claim on a real asset. But the fact is that there are now more claims outstanding than real assets. The law of supply and demand is not to be conned. As the supply of money (of claims) increases relative to the supply of tangible assets in the economy, prices must eventually rise. Thus the earnings saved by the productive members of the society lose value in terms of goods. When the economy's books are finally balanced, one finds that this loss in value represents the goods purchased by the government for welfare or other purposes with the money proceeds of the government bonds financed by bank credit expansion.
In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. If there were, the government would have to make its holding illegal, as was done in the case of gold. If everyone decided, for example, to convert all his bank deposits to silver or copper or any other good, and thereafter declined to accept checks as payment for goods, bank deposits would lose their purchasing power and government-created bank credit would be worthless as a claim on goods. The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves.
This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard.
http://www.321gold.com/fed/greenspan/1966.html
All true.
Miles and I discussed this very thing about a year ago. I would add it also enables eternal unfunded war making.
The debt money system is an insidious lie, a device concocted by the ruling class (statists & Keynesians) that allows any crooked politician to promise anything in the world to their constituents. Anything is possible with it (so they said) as nothing is ever ultimately paid for by the voter.
The lie is coming to an end...be prepared.
This from Bloomberg:
Such prescience! Such a grasp of the financial complexities! Maestro, Maestro!
You can't print away revulsion and rejection of a currency, in fact, the more you print the more undesirable it gets.
Therefore, Mr. Maestro is lying, again.
Hey, we are working again. Liked it this way anyhow.
McConnell got his wish. He crashed the market, in the name of Crashing Bambi. McConnel goes for the two for.
So, I revise my previous comments. We are No Longer Japan. I also said We are Japan.
Now, I say, We are Worse than Japan.
Truer words were never typed in ZH history. No we are not Japan. We are a reserve currency, but we don't have the savings to self finance our debt, and our predilection for war and the the military industrial complex putd Weimar Germany to shame. We are about to explode.
http://www.bloomberg.com/tv/
Bloomberg TV is doing a very serious and heavy Special Coverage of this crash. They're bringing in some of the best Financial minds. Just had Jim Rogers, and Bill Gross, Krugman was on to say, "if they had only listened to me," and James Chanos is on right now.
Rubini coming up in the next segment.
Worth watching.
MonkeyFister?,LOL
<Krugman was on to say, "if they had only listened to me," >
YOU ARE shitting, RIGHT?.
Wht a friggin MORON.
Gold man, its a religion ! Heed their call. and it will be done.
Story of my life. I never sign up for any kind of blog of any sort. This is the only one I am a member of or have ever been a member of. I wait over a year (closer to 2) to sign up for this one, deciding it's well worth it. I do it and POOF. Just like the economy it goes to shit. WTF? No more list of comments under the account. No more junk buttons. That's half the fun. Not to mention the funky crashes and lack of server availability lately. Tyler, does Geithner manage your servers? PLEEEAAASSSEEEE fix this. If not I'll be mentally fucked for life (more than I already am). Thanks.
P.S. Even with the problems, it still rocks.
They will fix it. They are working right now.
You must realize. Those in the know ,(diehard ZHer's like you and I), come here first.
I am willing to bet that demand for ZH is at or exceeds record levels right now. Where the hell else would you go for the truth !?!
Zh Rules !!!
Anyone else notice the seeking alpha spam everywhere. I thought they were somewhat reputable now, they have spammers on many website forums
That site has some good content, but it isn't worth the effort of keeping the propaganda out of your mind. I dropped them long ago.
Agreed. Hence the final sentence. Just venting, pissed between server crashes and my shitty, low tech, sometimes it works but I'm fucked because I live in the middle of nowhere and they have me by the proverbial ballsack, bullshit, nasty ball sucking, vampire draining my blood in the form of monthly fees, worst ever in the known universe interwebification unconnectivity service.
KowPie,
Sorry for all the cow analogies & jokes...but they are useful. And your not alone, I'm in the sticks and a heavy fog knocks the power out.
But I got two wells...I won't die of dysentery or thirst ;-)
Amen brother. In the weeds has it's disadvantages but the pros far outweigh the cons.
Good on both of you! TWO and ONE Half!
This is starting to look like venison or fresh water for fish trading Yen...why, this is almost how an economy is supposed to work ;-)
Carbon Fiber didn't exist back then! You are a man of truth!
Real websites don't need bandwidth.
Kind of like this one:
http://www.theworldsworstwebsiteever.com/
That's pretty bad, but I sent it along to my joke list...
Synopsis of what is wrong with the site:
http://www.theworldsworstwebsiteever.com/new_page_1.htm
Actually I have the same problem.
Have Wi-Fi and remote location. Have Verizon Android, use the hot spot, but is slow 3-G and cuts out all time resulting in many double posts. But tonight special problems noted only at ZH, presumably due to traffic. Am upgrading to 4-G near future anyway to see if it will improve things.
I connect (ha ha ha) using Verizon also. For me, 3G is a rare treat and 4G is a myth designed to get me to upgrade to a more expensive phone.
Welcome Kowpie. No worries.
They tweaked it last week, and then tweaking it again last couple of days, just in time for the global economic bonfire. It'll get fixed. I'll junk you anyway if it will make you happy!
**JUNK 1**
There. Spit spot.
"Snip, snip, snip, snip..... sploosh (no, not what you think, it's the sound of glue), fwap (nor that, which is the sound of pasting said glued object)... hmmm, looks good!"
That's me cutting and pasting your jumk (boy, that REALLY DIDN'T SOUND GOOD AT ALL) to my own cardboard server file. Thanks.
Welcome aboard the precious metals express!
T. D. is becoming the mainstream media. This involves growing pains and ZH buying now unneeded computer equpment, software and infrastructure from CNN, CNBC, CBS, NBC, MSNBC and the rest of establishment, dinosaur propaganda laden, government run fascist media!
Tuco
Does this mean that with their 3 month estimate at 1645 that I'll be able to buy it for 1645 in three months?
LOL. $1800 will forever be in our rearview mirror by October. Of course, we'll see wild gyrations in PMs and everything else going forward, but the long term trendline only points north. Interesting times.
Agreed. That's why I made my last (final?) purchase of more silver and SAEs this past weekend on the dip. I bought my physical...now it's time to sit back in the rocketship and ride it up the charts. My FRNs will now at this point forward be used to pre-pay my debts and add to my stockpile of food and supplies. The days of $10, $20, and even $30 silver are forever behind us. As Benny prepares to announce QE3, $40 will slip into the fog as well. Get ready for $50 to be the norm by October.
is the denial phase over now, then?
i'd say something more meaningful but i can't stop laughing.
I think they meant $18,300. Keep track of Krugerrand prices.
1830 by December is much more accurate.
Gold & Silver, Bitchez!
http://www.youtube.com/watch?v=ZNGe7iK1O-4
I suspect a portion of this crash is a result of Mr. Jeethner vowing to stay on, with Obama's nod.
He and Larry Summers needs to be thrown against the wall, and then thrown out on the street.
Wrong. Garbage gets taken to the dumps, not thrown on the street. Unless of course you're Greek.
Bad dreams! Really bad dreams! Trick or treaters dressed like, Little Red Riding HOOD!
It takes a SuperNova to create Gold, yes thats right it's fucking stardust.
So is almost everything else.
Those price targets might not last a week.
BTW, Silver is on a rocket ship right now.
Indeed. I believe the Bernak may have angered it.
Good for me, I bought Wed, Thurs, and again 5 min before the Asian open. The only shipment that isn't already in the mail is the one from tonight, but I'm certain that the mail will continue to function until the end of the week.
Was a shaky time right before I hid the bid button tonight, though. Could've gone the other way.
I know the feeling, it was hard to pull the trigger but I bout another Gold Maple after buying a Gold Philharmonic for $100 less a week ago. Dollar cost averaging. Just keep telling yourself that, in silver I'm way ahead averaging it. I'm pretty sure we won't be sorry.
Everybody talks about how overpriced the U. S. Mint is and they'd NEVER buy Mint products....
Here's a tad of that faulty thinking:
===============================================
2011-W Uncirculated Silver Eagle Scheduled
Posted: 03 Aug 2011 09:20 PM PDT
The US Mint has added a release date of September 29, 2011 for the 2011-W Uncirculated Silver Eagle.
Previously, the coin had been listed as “TBD” on the scheduled product listing and “early fall” on the tentative product page. Although an exact date has now been published, it still remains subject to potential change.
The product is an additional collectible version of the American Silver Eagle, following the proof coin released on June 30. The uncirculated version carries a finish similar to the bullion coin and is struck on specially burnished blanks. The coins also carry the “W” mint mark to denote production at the West point Mint. As with other Silver Eagles, the coins are struck in .999 fine silver with a weight of one troy ounce.
The last collectible uncirculated silver eagle was released back in 2008. The product was canceled for the following two years, as the US Mint struggled to meet demand for bullion versions of the coin. Under previous law, the US Mint was required to produce the bullion coins in quantities sufficient to meet public demand. Since they were not meeting full demand, they sourced all silver planchets to the production of more bullion coins and canceled some collector versions of the coins. The law has since been changed to allow some flexibility for the production of collector coins.
Pricing and ordering limits for the 2011-W Uncirculated Silver Eagle have not yet been published.
When last available in 2008, the collectible uncirculated Silver Eagles were priced at $25.95 each. The same year, the proof version was priced at $31.95. During the year, the market price of silver ranged from a low of $8.88 per ounce to a high of $20.92. The cumulative average for the year was $14.99.
The currently available 2011 Proof Silver Eagle is priced at $59.95 based on a market silver price of $37.50 per ounce.
That was Fantastic! Been there Done that! Nice comment!
12 months? More likely to see 2K before the end of the week.
Goldman Sachs is finally raising gold price estimates and giving it some cred? That's the kiss of deathperation.
Gold is now $20 away from parity with platinum. That doesn't happen that often historically and when it does it doesn't happen for long. Sometimes platinum has traded as high as almost triple the gold price. Me thinks platinum also worthy of a price hike forecast. After all it takes a lot of black gold (money that is, Texas Tea) to pull an oz of platinum out of the ground and God isn't making any more of it.
Yes, I have followed the metals for decades and only twice can I remember gold and platinum at parity, once in the 90s and once a few years ago.
Tuco Benedicto Pacifico Juan Maria Ramirez
Platinum, by the way, is "15" times more scarce than gold!
Tuco
I like platinum too (and have some), but I like gold more.
Anyone else remember not too long ago JPM was taking a sizable interest in Platinum? Hmmm...
it's gold man!
lol in this one particular case GS really means it this time.. honestly guys, they really do.
Who cares what they think?
Anyhow, it could be them trying to retain some credibility now that the wheels are falling off- kind of like the S&P's "Too little, too late" downgrade showboating. They'd look pretty dumb if they didn't bump it up a bit, and then fail to keep the price supressed.
DOW Futures off 2% and DAX Futures up 1%.
Gold up, up and beyond in USD.
Here's what I'm trying to figure out all weekend since the announcement.
What if all UST paper is downgraded and now considered almost toxic but the would-be sellers aren't finding any buyers.
Who is the counterparty that is taking the toxic paper from Asia and Europe which are selling and will be selling more as the rout continues?
For POG to rise considerably, the funds have to be liquid to convert into gold. The UST bag holders can try and liquidate the worthless paper all day and night long, but if there's no buyer for the UST paper then there's no "flight to quality", no flight into gold.
Cash reserves only go so far. With liquidity in question, the cash positions are increasing natually because nobody will know what tomorrow brings and how to keep paying bills unless you're liquid.
Gold is illiquid. Sad but true. Central banks are condemned to buy more paper (their own or their cousin's) and may have to liquidate even gold in the process.
ECB for example has no liquidity to pile into gold, FED the same. Russian and Chinese central bankers can buy gold for now but their bigger concerns are the effects of recession on resources (Russia) and the manufacturing (China).
I'm wanting the gold moonshoot as much as all the gold bugs in the world but unless there's officially a "reset", I can't see where the liquidity is supposed to be coming from to rise gold to ever higher levels.
walk,
Make it simple, whatever.
It's always been about INSURANCE until the reset.
I have never been fond of the idea of being sent home w/ a bloody rectal opening, and a pocketful of IOU's.
DAX Futures are up!
NIKKEI has recovered, only down 1% now.
Just wondering if we've seen the worst last week and the market is giving "buy" signals.
Gold is a hedge, absolutely.
My sentiments exactly. If it keeps on chuggin' along on twisted rails I'll be just fine. If not and it goes totally to shit, that's what I have my PM backup for. It's not an investment for me, simply an insurance policy for staples that I am unable to personally grow, kill or manufacture post implosion.
The most brilliant comment I have heard in a while, "and" from a KowPie no less:)
+1
Tuco Benedicto Pacifico Juan Maria Ramirez
You can't be brilliant if you don't KNOW shit.
Edit: ...sound of scissors cutting out "+1" (RE: Earlier post).
CALL Me "Poo Poo"" on Roids!
Note the crown on my logo. I am the king of shit. Hmmm....
Edit: Not quite sure about this post...
NOTED;
ECB and the FED have a printing machine, gives them all the liquidity the want. With bonds crashing their liquidity is what keeps the system alive.
KISS yield curves!
I disagree. Gold "is" liquid! Like ourselves Central Banks will just have to pay up for it for the next ten years.
Tuco
A man of reason! I dis- agree though> 2 sides make a trade< I respect your wisdom
enter qe3
If ? JUST in case! LONG LEAD! Atomic # 82 Pb...
whole lot of buyers out there right now. i reckon 1700 gold before i finish this bottle of wine.
The value of said money would be "transitory".
Yes,remember that, Everything is really, truthfully TRANSITORY..........even your life.
And you'll do well Grasshopper.(<:
let's see how long masters' blog is up and running? i predict not long. she is not very well liked by the internet community , that is for sure. now she has provided the anger a place to go and manifest itself..........ha ha ha ha
They'll probably keep the blog for image polishing .. but I bet comments get disabled in 3, 2, 1.....comments are already making the image polishing goal a bit problematic :) Love it....!
My every last cent, Will go DUKE & Squint EASTWOOD!
Can anyone tell me how to short Obama?
I tried the ticker, WTF-O, didn't seem to work...
Prevent a false flag like OKC which saved Bill Clinton's second term.
Tuco
we are raising our gold price forecasts to $1,645/toz, $1,730/toz, and $1,860/toz on a 3, 6, and 12-month horizon, respectively."
No way gold will get to 1645 in three months!! Oh . . .
How about 6 and 12 weeks for those second 2 numbers . . or maybe days for the 1730?
It may be @ 1830 by Breakfast......
Silver shorts getting blown out. Seems like a fast move to $ 50.00 oz coming.
Question is:
Where does GDX open tomorrow?
So long term interest rates are going to stay low? I should have stayed at the 3.6 variable on the mortgage!! But everybody kept saying lock in, lock in, lock in. So I lock in at the fixed 5.6, and here it is 2 years and I coulda had 3.6 and there're STILL going lower!!!???
(this is still much better than the original 8.25 fixed from chase I rolled over from. I shouldn't complain too much...)
I thought long term rates were going to expode higher?
Sounds like you made a very wise decision based on the information available at that time. Good for you!
+1
Tuco
Stay the course. In the long run they MUST go up, CB intervention be damned.
Wow, ran out to return a movie and I see the nice little HK pop for both G&S! No shit stirckin, might be there by morning.
Dosn't look like platinum, palladium, copper, aluminum are feeling this dollar reset theme... only gold, while silver is trying to detach from it's copper correlation, at least the one that came back in line over the last 10 days prior to this credit down grade by the cia.. i mean S&P.. and now Goldman says buy gold hmmm. Rising cost of credit, rising taxes, budget cutting, euro implosion, depression relapse be damned.
$1730 in six months? pffft. prolly by wednesday. these guys at goldie are nothing but bailed-out whores. pure drivel. why does zh publish this crap and be a part of the facade that they are a bunch of knowledgeable legit investment bankers?
So, you are saying that T. D. should only publish pieces he believes in 100%!? One must know one's enemies which often times means posting their propaganda!
Tuco
What are you talking about?
I think you've missed the entire point, Careless.
POINT? ya inept troll!?
Yet Barrick Gold will probably sell off tomorrow (ABX). Go figure.
What's really going on here, traders confused between ABX, Barrick, and ABX, the subprime mortgage bond index?
when equities get panic sold...bear market like sold...it's tough for even the good companies to not go down...these miners still have financial risk, etc...gold otoh has no counterparty risk
The Bernank will soon change his forecast on gold from "Not sure why I'd want any" to "Wish I had a whole farkin' lot more." I rate his silver nose-hair clippers a definite "Hold."
/ \
/ \ \ /
l l \/
l l /\
/ \
-----
l l
l l
\ /
\/
Edit: The click rating system is much easier.
WTF, $1830 in 12 months? How much do they pay this guy?
The way Obama is going you can put another zero in the mix.