Wednesday, 12/18, Market WrapUp (Effects Are Felt From Venezuela's Turmoil)

Financial Sense Online ^ | 12/18/2002 | James J. Puplava

[Lee_Atwater]

wow...354 now

[rohry]

"Why does Hong Kong and Sydney want to rocket up the price of gold?"

They don't want to "rocket up" the price of gold. Chinese and Muslim buying is the answer. They are buying our gold to get out of the "dollar reserve" currency. They will sell dollars and buy gold as reserves...

[Nuke'm Glowing]

Great answer about gold and right on the money. The derivatives of the money center banks are about to come home to roost. BOHICA America, your 401K is about to be good for bird cage lining soon.

[rohry]

"Kudlow and Cramer are trashing gold and declaring deflation dead. They are very good contrarian indicators. Those guys are two of the biggest clowns on TV."

Agreed...and LOL!

[who knows what evil?]

Approaching $355...I need to go to bed but this is like watching a car wreck in slow motion...can't take my eyes off of the graphs at Kitco (the site keeps crashing, by the way).

[DarkWaters]

Apparently Blanchard said what they did because the market wasn't worth it with the current manipulation going on however I don't if this is really true or not. Also a report from a couple of weeks ago is spreading through the more in the know investors known as the Howe/(someone else) report. Ever since then gold has been climbing steadily breaking its previous movement patterns. Venezuela has been cooking for some time with that commie in control their(admires and is supported by Castro) and that is why I believe that this mess is contrived to hurt the U.S. and allow communism to flow with less hindrance than past years here into South America. Iraq doesn't help. Large debt everywhere. Poor sales for the holiday season. Commodities on the rise(the momentum can have its effect). The Asians(see communist Chinese) and Arab states are buyers and could be helping this momentum upward to hurt our economy even further(don’t' rule out the strategic advantages for foreign countries not friendly to us). And I guess the list can go on for some length.

However, all of this and more has finally gotten the wiser investor to take some notice and at least take some risk exposure of their backs for that just in case event. Will be interesting to see if this turns into a panic of sorts.

[palmer]

anybody who's ever seen what happens to a small town when the mill closes down knows how devastating it is in human terms

Sure whatever, but we all get cheaper sneakers and we can use the savings to buy some extra crap at ChinaMart. Or invest it in the stock market, yeah that's the ticket!

[Nuke'm Glowing]

I think you can detect some panic. Someone with big money in the know is anticipating something very, very bad.

[Lee_Atwater]

Same here ... As far as Kitco, it is very slow tonite, might be a few people monitoring the action.

[StockAyatollah]

Hong Kong merchants are probably well-endowed

Well maybe they should work in porno rather than gold speculation. Here's a gold thread for you gold bugs.

[arete]

Ahhh, looks like someone stepped in to put a stop to it. Did someone wake up Sir Al?

Richard W.

[B4Ranch]

(snip)Today we find ourselves at the opposite end of the spectrum. (snip)

It may just be time to change everyone in Washington, D.C. and our State capitols so we can get America back together again. The Tea Party is coming closer everyday.

[steveegg]

Ahhh, looks like someone stepped in to put a stop to it. Did someone wake up Sir Al?

I wouldn't necessarily say that; Kitco has the spot market at $347, while the morning London Fix is at $345.75 (up from yesterday's afternoon fix of $338 and morning fix of $337.05).

If only I had some cash for this ride, and I knew where the top of the hill was (it's out there somewhere), No, I haven't become a gold bug, but Jim's "things" sure look mighty good right now

[Tauzero]

In ChinaMart's favor, they do sell guns. :)

[Semaphore Heathcliffe]

and in a larger sense what is the long term strategic outlook for a country when it's citizens no longer know how to weave cloth, or how to make steel, or how to build ships or how to grow food?....

might as well enjoy the ride, Party People in the Back, cuz we gonna ride this sucker all the way in.

[steveegg]

Well, if America forgets how to grow food, it's all over for the entire world as (almost) no one else knows how to grow food in quantity.