Mama Like!
Posted on 09/11/2009 8:30:17 AM PDT by Circle_Hook
Paul Walker, CEO of the GFMS metals consultancy, said recently that the gold price has risen because there have been "large, lumpy transactions in a market that has a degree of illiquidity." I can't think of a better euphemism for a short squeeze.
(Excerpt) Read more at gata.org ...
BTW, who are these people asking for old broken gold, platinum, etc. jewelry on TV? Are they American companies? People are even holding gold parties in their home. Who's getting it all?
Ain’t enough gold to meet their obligations. I keep waiting for a dip to buy more but it just ain’t happening.
‘He who sells what isn’t his’n, buys it back or goes to prison.”
I’ve been wondering the same (about the TV gold buyers). One factor is that - the demand for physical gold is very high relative to gold futures.
People short gold futures have trouble coming up with the bullion for delivery if there are any production hiccups in part because of the hoarding of coins by speculators and end-of-the-world types. This means that you actually can get pretty good prices (relative to spot markets) for the old rings etc.
As to who the buyer are, maybe they’re just entrepreneurs who figure it’s a good chance to buy “old gold” when you can sell it so well relative to the London fixings, and maybe they are agents of the big hedgers who are having trouble making delivery against futures. Either way, it’s an historically excellent time to be selling gold.
Mama Like!
please read and study jsmineset.con to find out how wrong you are to sell not buy gold at this time!!!
I couldn’t agree more!
China is trading a large portion of its dollar reserves for gold. A government official stated that they were buying when the price drops in order to keep it from moving up too fast. China could have a huge impact if this is true.
I doubt you’ll see gold below 900 for the next several years.
They are also advocating the chinese people buy gold and silver as well. Guess they have some plans for the not too distant future. The dollar is falling like a manhole cover in a swimming pool!
BO has been good for hedges against economic devastation and stupidity. I am not sure we will survive 4 years of this fascist.
When you see that trading is done, not by consent, but by compulsion - when you see that in order to produce, you need to obtain permission from men who produce nothing - when you see that money is flowing to those who deal, not in goods, but in favors - when you see that men get richer by graft and by pull than by work, and your laws don’t protect you against them, but protect them against you - when you see corruption being rewarded and honesty becoming a self-sacrifice - you may know that your society is doomed.
-Ayn Rand
I didn’t mean it couldn’t go higher, just that relative to the traded gold market you can get a really good price right now for physical gold
I can’t blame any country for unloading their dollar reserves. We are headed for rough times when the dollar is no longer the reserve currency of the world. That day is approaching fast thanks to the spending habits of our elected officials.
“when you see that money is flowing to those who deal, not in goods, but in speculation - when you see that men get richer by swapping pieces of paper than by work, and your laws don’t protect you against them, but protect them against you - when you see corruption being financially rewarded and honesty becoming a cause for job termination - you may know that Wall Street and greedy capitalist pigs are running things and your society is doomed because you were too stupid to believe that government has a legitimate regulatory function.
parsy, who says Krushev was right, Russia did bury us, by sending us Ayn Rand.
“when you see that money is flowing to those who deal, not in goods, but in speculation - when you see that men get richer by swapping pieces of paper than by work, and your laws don’t protect you against them, but protect them against you - when you see corruption being financially rewarded and honesty becoming a cause for job termination - you may know that Wall Street and greedy capitalist pigs are running things and your society is doomed because you were too stupid to believe that government has a legitimate regulatory function.
parsy, who says Krushev was right, Russia did bury us, by sending us Ayn Rand.
Yep, our successful capitalist system made us the envy of the world. The govt takes 50% of my income by threat of force and captilist take what I choose to spend. Envy, stupidity and ingratitude are hallmarks of liberalism/progressivism.
“Envy, stupidity and ingratitude are hallmarks of liberalism/progressivism.”
as opposed to the:
Greed, envy, stupidity and ingratitude as the hallmarks of the anarcho-capitalists.
parsy, who is reminded of how Ambrose Bierce defined “abatis”
You are free NOT to do business with “greedy capitalists.” It ain’t rocket science. Like I said the govt takes about 50% of my income at threat of jail or gunpoint. Last time I checked, capitalists weren’t pulling guns on me. If you don’t fall into the greedy category please send me a $100.
“Did you really think we want those laws observed?” said Dr. Ferris. “We want them to be broken. You’d better get it straight that it’s not a bunch of boy scouts you’re up against... We’re after power and we mean it... There’s no way to rule innocent men. The only power any government has is the power to crack down on criminals. Well, when there aren’t enough criminals one makes them. One declares so many things to be a crime that it becomes impossible for men to live without breaking laws. Who wants a nation of law-abiding citizens? What’s there in that for anyone? But just pass the kind of laws that can neither be observed nor enforced or objectively interpreted – and you create a nation of law-breakers – and then you cash in on guilt. Now that’s the system, Mr. Reardon, that’s the game, and once you understand it, you’ll be much easier to deal with.”
- Ayn Rand, ‘Atlas Shrugged’ 1957
Dude, since you live on Planet Earth, you are going to live somewhere that has a government. That government is going to have to tax you to do its job. Quit whining about it and get used to it. Grow up.
parsy, who says get thee to a cult de-programmer to help you escape the Ayn Rand Cult.
You seem to lack the ability to differentiate govt from tyranny. In case you haven’t noticed the later is in control now. So quit whining about the private sector expecting to make money in order to provide jobs and provide the funds for the govt sector parasite. Your 3rd person communications ended with grade-school—do you know how childish that appears?
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