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So if that logic holds true GS is"selling" Gold right now - right? Eeek. Maybe I shouldnt hold that Gold.
Gold will most certainly plunge as the next deleveraging, liquidation episode grips the market.
Luckily, nobody here holds gold for investment purposes of converting fiat into fiat with a gold intermediary.
I can only speak for myself.
I second that motion.
While gold will take its hit, my 'investment' of choice, ammo, will still climb...
Bullish Bullets for Christmas!!!!
Somebody once said silver bullets were the best investment you could possibly make.
If Goldman isn't long copper, then they must think the economy is heading for a slowdown. It seems to have been picking up lately though.. maybe they're just trying to make everybody look left while they zag right.
One word: Celente.
Bullshit. Advancing a position with the intent to take delivery used to be not only a legitimate way, but also a financially sound way to accumulate physical, pre-MF.
Um, thank you for the glance at 'pre-MF' market conditions. I'd like to add that I made some fiat with Bear Stearns a while ago... I'm not sure how that helps either you or me but it's good to know...
Only idiots own paper gold. If gold "plunges" again, there won't be much if any physical available, just as there was hardly any to be had after the 2008 plunge. Had to wait two months for delivery on silver I purchased then, and paid a 50% premium.
People are fleeing the Euro and looking for a safe haven, which obviously they think is the dollar. We will see how gold and silver hold. If silver doesn't hold that 28 mark then we will see 26 and if that doesn't hold it will fall further. Huge buying opportunity if this happens. Short lived but definitely a possibility.
Yes..., if gold and silver can't hold at these levels, they may well go down. <sarc>
I seem to remember those same people fleeing the Euro to the Swiss Fanc not too long ago. We all know how that worked out. King Dolla' is soon to shake the fool's. Operation debasement is a force that can't be stopped. Sure, gold and silver will take a dive. But as TMosley stated......have fun trying to get it.
Well if they did... They'd be pretty goddamned stupid...
To be realistic, one would one have to, eventually, convert to whatever currency is used to buy groceries, pay real estate taxes, etc.
Not all currencies are fiat currencies. The age of universal fiat had a beginning, so it will have an end. Those who hold gold are simply waiting for that day to come. Gold has the side effect of transferring purchasing power through different fiat currencies in a lossless manner as a happy side effect. If the next currency regime should again be fiat in naute, you can bet your gold will buy a lot more of it than your dollars will. It would be ill advised to trade your gold for this new fiat beyond immediate needs, however, as fiat successors to failed currencies have an even shorter average and median lifespan than the full set of fiat currencies.
Tmosley bring up an important point I discussed on Turd's site this morning, when to sell?
So in conclusion; although you need fiat to run your day to day expenses/purchases continue to buy at any price. Obviously the dips are the best entry points but accumulation is paramount. DO NOT buy so much that you are forced out of it (sell) to run your day to day operation during a massive raid. These are the days you want to be overweight fiat. Balance and adjust accordingly.
Above all rest your pretty heads. Even if, on a far outside shot, this thing does not come down in our lifetime. One's family members will most certainly be able to use the gold. Don't even question how thankful they will be for your insight.
There are still people in these markets on leverage? WTF?
Right...I own GLD...wait whaaaaaat?
Errrrr… I thought Dennis Gartman was an honest man and when he called a top in gold last week, I sold EVERYTHING I had to some guy named Diamond?, Demon?, oh, that's it Dimon. Jammy Dimon - no that's not it! Jamie, that's his name! Jamie Dimon! He said he'd do me a favour and take it off my hands. He only charged me 10% as it is Christmas! What a nice man and such a relief to be shot of the stuff!
I once had a gold fiat, it didn't work either.
Apparently, GS has a hard time lying about gold - just look at the Initial Value at the beginning of the holding period. 1,800/oz in October '10? Looks like a Freudian slip to me...
Funnier? Well the 20 /es pump job since 3am on hopium is pretty comedy as well.
If you think that is comedy, check out oil.
And what else do you expect from a Squid.
What part of "You're a fucking idiot if you entrust your investments to Goldman" do their clients not understand??
apparenlty the "fucking" part
True dat - it should be past tense for the recipients.
These people are incredible. There are no stops. I am just thankful I am nothing like these people. I am glad I can sleep at night.
Goldman is shorting so they see massive deflation
Here we go again.
Everyone is now making fun of Goldman's horrific trading recommendations.
However, when they predict a massive financial implosion in Europe or a huge U.S. recession, suddenly they are considered infalliable "experts" and those forecasts are heaped with praise here on ZH.
so go ahead, i dare you to open Cu/Zn longs
Even a broken clock is right twice a day
I said that to my daughter, and she had no idea what the hell I was talking about.
When the clocks in her world break, the digits on them don't light up any more.
A stopped clock is right twice a day, a broken clock may never be correct.
how often is a crooked clock?
Not if it's digital. Then it's blank.
I think most poeple make fun because goldman is nearly always the ' happy talk' generator.....most people here could see the economy was in trouble back in 2005
When they are down on the economy they do normally have a motive - like print more money
So in reality, their macro outlook has been in conflict with their trading recommendations. Seems like a great way to shift blame when things don't pan out.
we would love to make fun of your recommendations, but, geez, robo, youre after the fact calls are always spot on......
Robo would gladly tell you what stocks did last Wednesday for a hamburger today...
I prefer making fun of your horrific trading recommendations.
GS predict a financial implosion? More like the cause of said implosion. As I recall ZH predicted this well in advance of Goldman jumping on board. But it does not surprise me you would remember it the other way round.
They aren't "selling" those things. Can you really dispute the track record of their specific recommendations?
Or do you hold them to the same standard as your own dumb calls?
Well... All I can say is when the come out and say "Fade the Robot Trader", I'll reassess my POV on them...
Read Bogle's books. He openly says the only people who make money with investment funds are the brokers, dealers, executives at the borkers. Too much commissions, fees. etc he says.
Better to do your own research then rely on conflicted recommendations he says...at least that's what I take away from his books.
i mean, does anybody really listen to these fuckers anymore?? and if so, who?? nobody's that fucking dumb.
Im glad I shorted copper.
When the squid says one thing, do the opposite and put in a stop....besides China is cratering,...
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