You are right Bobcat I think Gold will still be playing around this 1300 to 1360 levels. You watch and you watch and when you blink that is the time it moves 80 dollars in one night. I have seen it happen before.
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You are right Bobcat I think Gold will still be playing around this 1300 to 1360 levels. You watch and you watch and when you blink that is the time it moves 80 dollars in one night. I have seen it happen before.
Imagine that you're a dad with a son who was married (or not) with a family, and that son approached his bank manager to seek a lift to his credit limit (i.e. borrowing limit). The bank manager is fiscally responsible and so examines your son's financial situation, noticing that
a) his family's income has been dropping off (i.e. GDP);
b) he has been recklessly spending more on propping up his own failed business (i.e. big government) at the expense of his family's wellbeing;
c) he has an expensive new business venture (ObamaCare) which has a dubious business model, mischieviously promising people that they will be able to keep their current health plans, when in fact millions will not, unjust privileges for senior government workers (e.g. members of congress, and an IT strategy that is fault-ridden;
d) his overall employment situation is a bit shonky;
e) he has already taken out many loans in the form of bonds that he has no intention of honouring (expecting his children to do so);
f) his popularity (even within his own family) is on the rocks (i.e. less than 40% approval rating - the lowest ever).
...and so the Bank Manager insists that before your son's debt limit is raised, he must take steps to a) reduce his spending; b) remove from ObamaCare its special privileges for the privileged few, and be more fiscally responsible.
You son refuses, deciding instead to blackmail the Bank Manager by telling him that if he doesn't get what he wants with no strings attached that he will tell his family and all their friends, as well as go public, that the Bank Manager is preventing his family from functioning properly putting the whole community at risk of financial ruin. The Bank Manager tries to negotiate a compromise but your son refuses to and instead gets on the phone to all his liberal journalist mates telling them that the Bank Manager is an unreliable, irresponsible radical who is seriously jeopardising his family and theirs. They believe him and print accordingly, persuading others of the same.
As his dad, what counsel would you give you son? Doesn't his behaviour not seem just a tiny bit deceptive, narcissistic and irresponsible? What legacy do you believe he is leaving for his children to inherit? And how can you live with yourself given the monster that your parenting has created? That sort of behaviour should've been nipped in the bud long ago, not condoned. Bad behaviour should not be rewarded with a handout (Parenting 101), and if the child has slandered others untruthfully, he must be bought to account.
Obama (and he is not the only one) in his efforts to regain the political advantage over his conservative rivals has lost his love for the truth...and what's worse, he doesn't give a d*mn.
BC, I hope you aren't implying the responsible bank manager is the Republican party? It was Bush who went to war in Iraq which was a massive expense despite outright being a dubious action from the start. I think they are both to blame to some degree, however at least Obama is finally reigning in govt spending some. I agree he has been disappointing but has also been hamstrung by the far right as well. The recent mayoral elections in the US suggests the general public are laying the blame at the Republicans door. Obamacare is very flawed however so is the current health system in the US. What this displays to me is the US political system is busted & is too influenced by lobbyists & big business they represent.
The Tea Party is just more grand-standing politicians adopting an extreme position to get elected. It's difficult to see what they achieved during the budget / debt stand-off except enhancing the reputations of people like Senator Ted Cruz in the eyes of their supporters. Cruz basically did nothing of any worth in the whole saga, except egg on a lot of republicans, stoke the media fire, & stand up on the senate floor with a marathon non-fillibuster talkathon during which he read from Dr Suess books. Meanwhile the much-maligned John Boehner had a tea party gun aimed at his head & in turn aimed a gun at the nations head. He was the one who had to take the hard line & who had to take the rap when the repubs caved.
So why don't the gutless Tea Partiers take over the house speakers role with one of their own, and stop putting up a patsy like Boehner to take the heat when it comes to the crunch. They are all about manipulating their own party while cunningly ensuring they stay out of the firing line.
Off-topic:
Some of you chaps might want to look outside of mainstream media for your news reports (some may not). Try these two (fairly reliable) sites for starters:
www.newsmax.com
www.wnd.com (World Net Daily)
Let me know if you're interested in sites that are less USA-centric, and I'll suggest a few, but these are worth checking out for starters.
Beware: the investigative journalism here may challenge your long held and treasured beliefs about what makes the world go round. I've learned much from them regarding some major power plays -- particularly around the motive, means and opportunity afforded the various players involved.
Happy reading...
^thanks BC, added to my reading & research list :)
Cheers BC always good to get different perspective.
Overnight, the ECB has lowered their interest rate (cutting it in half to 0.25%).
Also, the USA reported a better than expected GDP (2.8% compared to an expected 2.0%).
These events combined would normally have had a huge negative impact on the price of Gold but it has bounced (so far) off a 1300USD support base to trade in the 1307-1310 range (down only $5-8).
ECB President Draghi is yet to speak (he will do in 30mins). It's likely that the PoG will be influenced further by whether or not he hints at a Money Printing (QE) programme for the EU.
I understand what you are trying to say Bobcat-But I feel you have missed to whole point of my post.
Do you really think it is the gov. that is calling the shots Here?
Dont you see the man behind the curtain?
Obamacare is a minnow compared the the massive influence and profits the large corporations are taking out of the everyday peoples pockets.
Doesnt it seem strange to you that these mega companies are paying less tax than an average person in some cases.
In the best case scenario they are still woefully short of carrying their load.
As Daytr pointed out the Republicans under Bush were the worst of the lot when it comes to Gov. plundering.
And why? Because they pandered and even participated in the corporate rout--Hell Cheaney sat on the board of Halliburtan(sp?)
He was in on making decisions that had the power to result in military action ---And he sat on the board of a corporation that built the military bases. And the huge merchant banks--(dont even get me started)
The corporations buy Governments and plunder the people(somebody has got to pay taxes)--Everything else is just a side show.
So there is another force that is missing from your puppet show story--the one who is pulling the strings.
Dont get me wrong -Im not necessarily supporting obamacare--just pointing out thereal root of the problem IMO
http://truth-out.org/opinion/item/19...cam-in-history