Posted on 11/10/2006 8:33:03 AM PST by GodGunsGuts
PS the dollar broke down below .85 (a very important number)...but not without a fight. If the USD holds below .85 the next stop will be .80, a hugely important number. If the USD breaks below that, $1650 gold will be here in no time.
And piss off the Corporate elite? Perish the thought.
Yes.
What was the price of gold the last time the USD index was below 80?
The article talks about the dollar dropping today. Right Whale said gold was also dropping, today.
Why would the Chinese waste their precious foreign reserves on that barbaric relic?
Everyone knows that the North Koreans and others have been busy counterfeiting gold by the bushel basket!
The Chinese will sensibly keep their assets in greenbacks, and maybe add a little more Euros and yen, for the sake of diversication, always a wise plan with paper assets.
Nobody smart would want to own gold - ask the experts!
Their little nuggets of wisdom are sure to appear on this thread. I know I've learned a lot about why to not own gold right here on FR.
Today is not a good indicator as it is a holiday. Let's see what happens on Monday.
LOL! They're already here.
What have you learned?
And what was the price of gold at that point?
I'm not sure many people look at gold's performance over the past month when purchasing it, unless they are speculators.
Take a look for yourself. I posted the chart. But it's not about where gold was in 2005, it's all about the direction gold will go (and by how much) as the dollar index begins heading towards .80....and when the dollar breaks below that...look out below! (or above, in the case of gold).
I am both. I have been trading short term movements in gold for the last five years on margin. My retirement is currently invested in a gold fund.
Are you claiming it went up in 2005 as the dollar dropped toward .80? Did gold fall when the dollar then rose back to .85?
"Gold is also moving on rumors the Chinese government might increase its gold reserves to diversify its large holdings of U.S. securities and to hedge against a rising yuan/falling dollar.
This has been known for a little while now.
I've run it through my translator. It means:
My butt is covered no matter what happens...
What have you learned?
Is this just a mid-term quiz, professor? Will it count for the final mark?
I've learned from you lot that only the government is in a position to know what's best for the people, especially when it comes to issues that only experts understand. If the government says paper money is good and gold is bad, then paper money is good, and gold a mere delusion.
Have I got it right so far?
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