This what Daytr calls 'off to the races'.
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This what Daytr calls 'off to the races'.
This is one that I own, this is 'off to the races'.
A real company that does real things.
Skol,
We all know that from Jan this year until early October, Gold was in a bear market...you are not contributing any insights reminding us of that, or by taking a cheap shot at Daytr.
Over the past week, however, there has been a definitive change in market sentiment towards gold (you don't need to research very deeply to see that). Daytr, myself, JBMurc, etc have been trying for three weeks now to pursuade you and inform others of this turnaround...but you have chosen to ignore it (to save face?) and worse -- mislead others in your stubborn belief that the POG was/is still about to plummet.
Your arguments are now very thin, and it is getting increasingly easy for us to ignore them, especially when you not only mislead people in your ignorance (that we can forgive) but also deliberately misinterpret what your fellow posters are meaning in their posts so as to appear to still be the guru (which of course to anyone bothered to search through your track record of posts, clearly you are not).
Like Datyr, I too am putting you on 'ignore' until such a time that you a) admit you have been wrong, and b) begin providing something better informed and more constructive to this debate.
BC
Bobcat,
You can put me on ignore if you want, it's not something I'm likely to have a nervous breakdown over. Even if I was given some gold, I'd sell it at these prices, because it isn't going to last, and when it falls it'll be like earlier this year, nearly vertical. Gold doesn't produce an income, is still in a bear market and will probably continue to be.
I don't pretend to be a guru, I'm here for a bit of education and a laugh, but some posters like you obviously have a sense of humour failure at short notice. You will never convince me to own gold, my stockmarket punts are doing much better, like the one above, and I get cheques in the mail as well.
Here's a headline from the AFR.
"All the drama coming out of Washington in the last few weeks has obscured some seriously good news: federal government spending is falling. And not at a trickle: think the White Cliffs of Dover."
I picked the top in silver exactly, that wasn't too bad was it, and I picked that oil, gold and silver were bubbles, which have subsequently burst. When bubble bursts, there's no going back, unless you make some short-term trades, and I got a huge amount of pleasure out of lampooning posters and of course the financial 'experts' like Mike Maloney, Peter Schiff, the Aden sisters, Jim Rickards, Eric Hommelberg and a multitude of others with their idiot predictions of $5,000, $10,000, $15,000.
That was great fun!
Yep,everything is under control at the ole US government folks--things are just Tickity Boo over there---''pay no attention to the man behind the curtain''
:)I think I heard something about the city of Detroit cutting its spending as well...
Well thats what we are told ....fact is for a start they just brought physical which was fine when they started to take on leverage they caused problems to the marketeers of the leverage as trying to deliver the real amount of metal would have bankrupted the phony futures system so it was stated "manipulation" when the hunts just wanted more metal at the price paid for the FIAT silver paper contracts..
the real physical Silver market is tiny .....the problem was the paper market grew far to big the COMEX etc didn't stop the hunt bros and others buying up huge amount of long future orders till it was clear the buyers actually wanted the Silver BARS then it was panic stations !!...see when it's just numbers on a screen it can be controlled but when it comes to the real item ...no no
why the hunts and others wanted silver bullion---
--The period leading up to silver’s spike was fraught with inflation, stagnant economic growth, and political upheaval. In 1965, President Johnson increased deficit spending to finance his Great Society programs, tax cuts, and an unpopular war in Vietnam.
In 1971, realizing that the U.S. Treasury didn’t have enough gold to redeem all the dollars held by foreign governments and investors, President Nixon pulled the United States off the Bretton Woods monetary system—the last vestiges of a pseudo gold standard. This action effectively created a worldwide fiat currency system that continues to this day.(and hasn't it been great just look at the bubbles created)
The Hunt brothers could see the writing on the wall. With their great wealth being steadily eroded by skyrocketing inflation, they needed an asset to which they could safely anchor their massive oil fortune. At first, they thought of gold—history’s safe haven. But in 1973, U.S. citizens were not allowed to own gold, and Bunker Hunt thought the gold market was too easily manipulated for government purposes.1
So the Hunt Brothers turned to silver, and started buying it at about $2 an ounce. Total world silver production was dropping, while industrial silver consumption was exploding. And once government and private silver stocks ran out, the shortfall between supply and demand was certain to drive the price of silver skyward...
http://themonetaryfuture.blogspot.co...-physical.html
http://www.marketoracle.co.uk/Article27513.html
Skol you picked the top in the metals , oil etc because pretty much every day you stated it was going down ...going crash etc ...now had you been neutral or bullish then had changed bearish round the time the downtrend started
then yes you would have been right
Yes it is, I know people who've just moved there and bought a house for $35,000. But this is one of the reasons the city is in dire straits.
http://www.foxnews.com/politics/2013...or-corruption/
Troy (TRY) are looking good:
Argentina (Casposa) :
Quarterly gold of 14koz and silver of 356koz
Cash cost of only $AUD891/oz
30% increase in waste development and first stope production.
Brazil (Androhinas) :
Quarterly gold of 8koz at only $AUD785/oz.
Guyana (West Omai):
formal permitting, mine planning etc
Upgradeed Indicated resource of 3moz with grade between 4.7g/t and 6.2g/t.
Acquisition of Azimuth looks to be going smoothly.
Latest report can be found at:
http://www.asx.com.au/asxpdf/2013102...d62xv2zb39.pdf
JB,
"Skol you picked the top in the metals , oil etc because pretty much every day you stated it was going down ...going crash etc ...now had you been neutral or bullish then had changed bearish round the time the downtrend started
then yes you would have been right"
Incorrect, I picked the top in silver EXACTLY and sold silver, at more than the going price, remember?
While you were extolling the virtues of Jason Hommel and other scamsters and telling us silver was going to unheard-of heights.
When I'm in the USA I often read about suckers that threw heaps at gold and silver and are now poverty-stricken, a hard lesson, but it happens all the time, gold, silver, property, scams, tulips, penny dreadfuls, pyramid schemes etc.
Lots of suckers listened to Glenn Beck about how the USA was going bankrupt, hyperinflation, the EU would collapse and gold was going to the moon. lol
And did it happen, of course not, only patsys believe that codswallop, but Beck sure got out at the right time, it was impeccable.
And of course JB, let me remind you of one of your 'predictions'.
On the 25/4/2011, you predicted that silver would be $60-$70 at the end of 2011. Yeah, right!
There's a New World being built not far from here JB, the missus won't have to take your $100 voucher quite so far this year.