Are Gold and Silver gonna keep going down?

[sixoclockhold]

5 years later and most of us forgot the plan:

Problem is, China ain't buying it.

http://www.youtube.com/watch?v=TOjckJWqb0A

http://endoftheamericandream.com/archives/not-just-the-largest-economy-here-are-26-other-ways-china-has-surpassed-america?utm_source=feedly&utm_reader=feedly&utm_medium=rss&utm_campaign=not-just-the-largest-economy-here-are-26-other-ways-china-has-surpassed-america

#9 China is the number one gold producer in the world.

#10 China is also the number one gold importer in the world.

Whole list of goodies...

[keenkeen]

...People have been talking about economic collapse since the 1970's. And yet stocks still did better than most any other investments in the decades since then.

FIFY...

[greensoup]

5 years later and most of us forgot the plan:

Problem is, China ain't buying it.

http://www.youtube.com/watch?v=TOjckJWqb0A

http://endoftheamericandream.com/archives/not-just-the-largest-economy-here-are-26-other-ways-china-has-surpassed-america?utm_source=feedly&utm_reader=feedly&utm_medium=rss&utm_campaign=not-just-the-largest-economy-here-are-26-other-ways-china-has-surpassed-america

#9 China is the number one gold producer in the world.

#10 China is also the number one gold importer in the world.

Whole list of goodies...

I've worked with China for a long time. Some of that list is true. Mostly its white lies and half truths.

[sixoclockhold]

I've worked with China for a long time. Some of that list is true. Mostly its white lies and half truths.

If you watch the video of Soros, you will understand the defeat he at least has when it comes to China's dominance.

Now, do you believe there is over 8,000 tonnes of gold stored which isn't hypothecated in reserves for the US ?

[smashycrashy]

"1926 S&P was defended, the Algo's gave you a false sense of security, then the recovery yesterday iced it for you, were all good. Today I suspect they test 1926 at close or drop below just slightly triggering overnight futures selling and the morning, OH GAWD...honey, get the money out of the bank !

I can't !!!!!!!!!!!!

The End, we now return you to your latest Bloomy article. "

Time check? This was posted when the market was rebounding, over 1940 S&P.

Final score 1928 close...

Futures have already hit 1922 at one point...

Strap in

I am a Fuki Guru......

LOL, I literally laughed out loud. Considering how wrong you've been I'd guess I would highlight the one time I was right.. except it needs some major follow through tomorrow. The long term stock holder are overjoyed everytime the stocks drop as it allows you to get future cash flows at a discount... gold people don't get anything with gold drops just the HOPE that someone someday will take their gold in exchange for dollars. And as investors know.. HOPE is a ****ty plan.

5 years later and most of us forgot the plan:

Problem is, China ain't buying it.

http://www.youtube.com/watch?v=TOjckJWqb0A

http://endoftheamericandream.com/archives/not-just-the-largest-economy-here-are-26-other-ways-china-has-surpassed-america?utm_source=feedly&utm_reader=feedly&utm_medium=rss&utm_campaign=not-just-the-largest-economy-here-are-26-other-ways-china-has-surpassed-america

#9 China is the number one gold producer in the world.

#10 China is also the number one gold importer in the world.

Whole list of goodies...

I wouldn't read these articles, if I were you:

http://www.bloomberg.com/news/2014-08-25/china-gold-imports-drop-for-fifth-month-on-weak-demand.html

http://in.reuters.com/article/2014/07/03/idINL6N0PE46E20140703

The gold story in China is that they are using it as a shadow banking system to hide from taxes and regulation. Banks will make loans but require gold as collateral.. The Government has realized this and is cracking down which is reversing the demand.. This was just the credit bubble but using gold as collateral instead of housing and it is unwinding.

Like I said, go all in with your China gold bet. I'm 100% invested in stocks and bonds and sleep very very well at night.

[sixoclockhold]

LOL, I literally laughed out loud. Considering how wrong you've been I'd guess I would highlight the one time I was right.. except it needs some major follow through tomorrow. The long term stock holder are overjoyed everytime the stocks drop as it allows you to get future cash flows at a discount... gold people don't get anything with gold drops just the HOPE that someone someday will take their gold in exchange for dollars. And as investors know.. HOPE is a ****ty plan.





I wouldn't read these articles, if I were you:

http://www.bloomberg.com/news/2014-08-25/china-gold-imports-drop-for-fifth-month-on-weak-demand.html

http://in.reuters.com/article/2014/07/03/idINL6N0PE46E20140703

The gold story in China is that they are using it as a shadow banking system to hide from taxes and regulation. Banks will make loans but require gold as collateral.. The Government has realized this and is cracking down which is reversing the demand.. This was just the credit bubble but using gold as collateral instead of housing and it is unwinding.

Like I said, go all in with your China gold bet. I'm 100% invested in stocks and bonds and sleep very very well at night.

Live and learn

I once had $500 on the don't pass, guy rolled a 10, thought I was in pretty good shape so I took $1,000 odds. TEN.....

I never go all in.

[sixoclockhold]

BTW Smashy, it was meant to be funny. Glad you got a giggle effect.

Tomorrow, oh yes tomorrow, sleep well.

[mindwip]

I have plenty of cash on the side that I pulled out at 20 to 80 percent profit earlier this year.

If the market dips enough I will rebuy.


My current stock is mostly up 80 percent with the exception of one down 50 percent.


Why say this, stocks going up And is a good thing. That's when money is made. Making money on gold and silver the one time it went up is great but hard to reproduce.

[Sunday]

buying because it's pretty is a better reason, right?

In my opinion being pretty in one of the best reasons to own gold. It feels good as well..

[therealnickb]

Did we die yet?

[sixoclockhold]

Did we die yet?

You had a near death experience.

Since Golds Bottom

S&P dwn 2.5%
Naz dwn 2.5%
Russell dwn 4.0%

Gold up 2.5%

[Spec]

I have been buying a little more PM lately. I focus on silver since it is what I can afford. I usually buy $1500 worth of PMs at a time to avoid the taxes. I will get a couple of 1/10 gold coins and the rest in silver (usually 90% pre-64 coins or 1oz rounds).

I also have put aside some cash (in smaller bills) to keep just in case there is some interruption in getting money out of the bank.

Through my work I have a pension and I contribute to a 401K.

I see all of this as a well rounded financial security plan.

When I first started buying PMs they were much higher than they are now (and I had less "disposable money") but I figured it was a good idea to diversify. I have bought more PMs over time and my cost average has gone down but I am still upside down on the PMs. I don't look at the PMs as an investment. I look at them as an insurance just in case "IT" all falls apart.

I keep the cash for the same reason. If "IT" all falls apart and I have to pay $50.00 a gallon for gas or $10.00 for a loaf of bread I can feed my family and fill up my car (not for very long but it MIGHT make the difference).

I keep throwing money in the 401K because I hope and believe "IT" won't all come crashing down.

I have food put up as well as ammo (never enough ammo but I shoot a lot) I also invest in bug-in/bug-out supplies (bug out is mostly camping items which get used at least 1x month, we camp a lot).

I look at all of this as a long term prep. Diversification works best for me. Like a lot of preppers say "try and have multiple uses for an item." Money is just an item to be used and if I can find multiple uses for that money I think that works best for me and my family.

[sixoclockhold]

I hear you Spec and most important we have Jesus, so in the end, we're good.

Gold/Silver need a fan club in these times. Truth be told, I have no debt, I am prepared, I am diversified and my PM's probably amount to less than 10% of my wifes and my wealth.

No crazy town here.

[smashycrashy]

http://finance.yahoo.com/news/russia-moves-ruble-band-most-064141942.html

Just sayin'

And on the recent "strength" in gold

In fact, he points out that gold open interest has fallen on the recent increase in prices, indicating that we are seeing more short covering than fresh buying.

http://www.cnbc.com/id/102076127

Gonna have to see some follow through of a lot of real people buying gold and putting it under the mattress cuz so far everything is pointing a heavily shorted market that covered rather than a bunch of people buying. The bullish case for gold has been over for several years that is juuuust enough time for the Glen Beck buyers to figure out that they won't be retiring on all that gold they bought thinking it was an "investment" or "store of value".

[sixoclockhold]

http://finance.yahoo.com/news/russia...064141942.html

Just sayin'

And on the recent "strength" in gold

http://www.cnbc.com/id/102076127

Gonna have to see some follow through of a lot of real people buying gold and putting it under the mattress cuz so far everything is pointing a heavily shorted market that covered rather than a bunch of people buying. The bullish case for gold has been over for several years that is juuuust enough time for the Glen Beck buyers to figure out that they won't be retiring on all that gold they bought thinking it was an "investment" or "store of value".

Smashy, I finally got my 9 Ebola suits, two more sets of rubber boots being delivered today. My family will look like the CDC walking through Walmart now.

1905 close today?...incoming

Happy Columbus Day !