Gold tops $1600 !!!!!

yes gold has hit $1600, will it top $2000 by the end of the year? or will it sink like a lead balloon ? only time will tell finance.yahoo.com... from the link

Fears about debt send gold price to record
Investors searching for safety push gold to record price above $1,600 per ounce

and this is not the only source www.kitco.com...

Looks like it is time to start panning gold again. Depending on where you live it may be more profitable to go gold panning 4-5 days per week than it is to hold a full time job.

I All those nutters telling me I'm crazy because I dig out all the "nonclaimable" alluvial deposits I can find and run the material through my sluice box. That's in addition to working my own claims.

Hmmm, might be fun. There is supposedly still gold in a river near my home. I have never really thought to give it a try before.

Originally posted by bekod
yes gold has hit $1600, will it top $2000 by the end of the year? or will it sink like a lead balloon ? only time will tell finance.yahoo.com... from the link

Fears about debt send gold price to record
Investors searching for safety push gold to record price above $1,600 per ounce

and this is not the only source www.kitco.com...

edit on 19-7-2011 by bekod because: added link

sink like a lead balloon. ha, thats a bankers wet dream. Gold is only going to brake out and keep rising until all the world markets fall. gold still has a long way to go

Expect the gold bubble to burst around the $1900 - $2200 mark... within the next year or two depending on how fast the rate rises.

At that point expect it to plummet fast and hard.

Silver follows the gold trend, but at a more stable, slower pace (up or down).

Originally posted by CranialSponge
Expect the gold bubble to burst around the $1900 - $2200 mark... within the next year or two depending on how fast the rate rises.

At that point expect it to plummet fast and hard.

Silver follows the gold trend, but at a more stable, slower pace (up or down).

edit on 19-7-2011 by CranialSponge because: (no reason given)

edit on 19-7-2011 by CranialSponge because: (no reason given)

And what do you base your hours of research? QE1? QE2? or the new QE3 coming? or that if you base the inflation number on calculations used in 1994, inflation would be at 11.1% right? That inflation number has not even started to factor in QE2's numbers yet.

rate are not going to rise, we are not recovering from this one

Originally posted by camaro68ss

Originally posted by CranialSponge
Expect the gold bubble to burst around the $1900 - $2200 mark... within the next year or two depending on how fast the rate rises.

At that point expect it to plummet fast and hard.

Silver follows the gold trend, but at a more stable, slower pace (up or down).

edit on 19-7-2011 by CranialSponge because: (no reason given)

edit on 19-7-2011 by CranialSponge because: (no reason given)

And what do you base your hours of research? QE1? QE2? or the new QE3 coming? or that if you base the inflation number on calculations used in 1994, inflation would be at 11.1% right? That inflation number has not even started to factor in QE2's numbers yet.

rate are not going to rise, we are not recovering from this one

edit on 19-7-2011 by camaro68ss because: (no reason given)

I just simply base it on 22 years of working in the finance/economic industry.

Take from it what you will.

Originally posted by CranialSponge

Originally posted by camaro68ss

Originally posted by CranialSponge
Expect the gold bubble to burst around the $1900 - $2200 mark... within the next year or two depending on how fast the rate rises.

At that point expect it to plummet fast and hard.

Silver follows the gold trend, but at a more stable, slower pace (up or down).

edit on 19-7-2011 by CranialSponge because: (no reason given)

edit on 19-7-2011 by CranialSponge because: (no reason given)

And what do you base your hours of research? QE1? QE2? or the new QE3 coming? or that if you base the inflation number on calculations used in 1994, inflation would be at 11.1% right? That inflation number has not even started to factor in QE2's numbers yet.

rate are not going to rise, we are not recovering from this one

edit on 19-7-2011 by camaro68ss because: (no reason given)

I just simply base it on 22 years of working in the finance/economic industry.

Take from it what you will.

Well im sorry to be blunt but your 22 years of cyclical economics might have been right 3 years ago but their wrong now. The FED’s cant possible raise rates because too much money was loaned out in bonds at near zero percent interest rates. With a 14.5 Trillion dollar defect on the books a single percentage point rise in interest rates will increse the already large interest payment on debt from 300billion dollars to 400billion dollars. So every point raised by the FED’s will increase interest on debt by 100 billion annually.

The math is impossible, the only means to decrees the burden of debt is by inflating it away. This is also true for many other countries around the world.

Originally posted by camaro68ss

Originally posted by CranialSponge

Originally posted by camaro68ss

Originally posted by CranialSponge
Expect the gold bubble to burst around the $1900 - $2200 mark... within the next year or two depending on how fast the rate rises.

At that point expect it to plummet fast and hard.

Silver follows the gold trend, but at a more stable, slower pace (up or down).

edit on 19-7-2011 by CranialSponge because: (no reason given)

edit on 19-7-2011 by CranialSponge because: (no reason given)

And what do you base your hours of research? QE1? QE2? or the new QE3 coming? or that if you base the inflation number on calculations used in 1994, inflation would be at 11.1% right? That inflation number has not even started to factor in QE2's numbers yet.

rate are not going to rise, we are not recovering from this one

edit on 19-7-2011 by camaro68ss because: (no reason given)

I just simply base it on 22 years of working in the finance/economic industry.

Take from it what you will.

Well im sorry to be blunt but your 22 years of cyclical economics might have been right 3 years ago but their wrong now. The FED’s cant possible raise rates because too much money was loaned out in bonds at near zero percent interest rates. With a 14.5 Trillion dollar defect on the books a single percentage point rise in interest rates will increse the already large interest payment on debt from 300billion dollars to 400billion dollars. So every point raised by the FED’s will increase interest on debt by 100 billion annually.

The math is impossible, the only means to decrees the burden of debt is by inflating it away. This is also true for many other countries around the world.

Are you now talking interest rates or gold prices ?

Because they don't work the same.

Originally posted by CranialSponge

Originally posted by camaro68ss

Originally posted by CranialSponge

Originally posted by camaro68ss

Originally posted by CranialSponge
Expect the gold bubble to burst around the $1900 - $2200 mark... within the next year or two depending on how fast the rate rises.

At that point expect it to plummet fast and hard.

Silver follows the gold trend, but at a more stable, slower pace (up or down).

edit on 19-7-2011 by CranialSponge because: (no reason given)

edit on 19-7-2011 by CranialSponge because: (no reason given)

And what do you base your hours of research? QE1? QE2? or the new QE3 coming? or that if you base the inflation number on calculations used in 1994, inflation would be at 11.1% right? That inflation number has not even started to factor in QE2's numbers yet.

rate are not going to rise, we are not recovering from this one

edit on 19-7-2011 by camaro68ss because: (no reason given)

I just simply base it on 22 years of working in the finance/economic industry.

Take from it what you will.

Well im sorry to be blunt but your 22 years of cyclical economics might have been right 3 years ago but their wrong now. The FED’s cant possible raise rates because too much money was loaned out in bonds at near zero percent interest rates. With a 14.5 Trillion dollar defect on the books a single percentage point rise in interest rates will increse the already large interest payment on debt from 300billion dollars to 400billion dollars. So every point raised by the FED’s will increase interest on debt by 100 billion annually.

The math is impossible, the only means to decrees the burden of debt is by inflating it away. This is also true for many other countries around the world.

Are you now talking interest rates or gold prices ?

Because they don't work the same.

well as you stated in your post you said depending on how fast the interest rates rise you will see gold/silver crash.

Im telling you interest rates are not going to rise, there is no bubble, and the only way this country and many others like it will be able to get out of debt is by inflating there fiat paper currency.

You stated in your post that an increase in interest rates will have a adverse affect on silver and gold prices. Now you’re saying they don’t work the same? Typically when one rises the other falls

Originally posted by camaro68ss

Originally posted by CranialSponge

Originally posted by camaro68ss

Originally posted by CranialSponge

Originally posted by camaro68ss

Originally posted by CranialSponge
Expect the gold bubble to burst around the $1900 - $2200 mark... within the next year or two depending on how fast the rate rises.

At that point expect it to plummet fast and hard.

Silver follows the gold trend, but at a more stable, slower pace (up or down).

edit on 19-7-2011 by CranialSponge because: (no reason given)

edit on 19-7-2011 by CranialSponge because: (no reason given)

And what do you base your hours of research? QE1? QE2? or the new QE3 coming? or that if you base the inflation number on calculations used in 1994, inflation would be at 11.1% right? That inflation number has not even started to factor in QE2's numbers yet.

rate are not going to rise, we are not recovering from this one

edit on 19-7-2011 by camaro68ss because: (no reason given)

I just simply base it on 22 years of working in the finance/economic industry.

Take from it what you will.

Well im sorry to be blunt but your 22 years of cyclical economics might have been right 3 years ago but their wrong now. The FED’s cant possible raise rates because too much money was loaned out in bonds at near zero percent interest rates. With a 14.5 Trillion dollar defect on the books a single percentage point rise in interest rates will increse the already large interest payment on debt from 300billion dollars to 400billion dollars. So every point raised by the FED’s will increase interest on debt by 100 billion annually.

The math is impossible, the only means to decrees the burden of debt is by inflating it away. This is also true for many other countries around the world.

Are you now talking interest rates or gold prices ?

Because they don't work the same.

well as you stated in your post you said depending on how fast the interest rates rise you will see gold/silver crash.

Im telling you interest rates are not going to rise, there is no bubble, and the only way this country and many others like it will be able to get out of debt is by inflating there fiat paper currency.

You stated in your post that an increase in interest rates will have a adverse affect on silver and gold prices. Now you’re saying they don’t work the same? Typically when one rises the other falls

I never said anything about interest rates in my post... I've been talking about gold rates, as the thread subject depicts.

reply to post by CranialSponge


im sorry, i miss read your original post and apologize . Still my above topics are completely relevant to why gold and silver will only be going up

Originally posted by camaro68ss
reply to post by CranialSponge

 

im sorry, i miss read your original post and apologize . Still my above topics are completely relevant to why gold and silver will only be going up

What I'm saying is gold is yet another "bubble" of the times that's going to burst due to global economics, and it has nothing to do (this time) with the US dollar. The rate of increase for gold will continue to rise until it pushes the global envelope, at which point it will "bubble burst" and plummet until it reaches it's balance alongside global supply and demand... right now it's a numbers game in an attempt to stabilize the US economy.

But if you think the US dollar and gold are going to continue on the same correlation path like they have been for the past few decades, you've got another thing coming.

And with regards to what you're talking about: I agree, the FED's cutting interest rates (yet another bubble) has only been for the sake of fallacious stability... this tactic has reached the end of it's rope and will soon bite the hand that fed it (pun intended).

Originally posted by CranialSponge
Silver follows the gold trend, but at a more stable, slower pace (up or down).

You're kidding...right ?

Silver is famous, no, make that infamous for wicked volatility......against the relative stability of Gold, or any other asset you might choose to name. Remember that 10% gap down on May 1st culminating a 30% correction for Silver versus a peak to trough 10% correction in Gold ? If not, look no further than today's -4% vs -1%.

Does -60% vs -30% 2008 ring a bell ?

Forive me for not going into the why's. This is fundamental information that anybody touting 22 years of experience in finance [with even a cursory emphasis on precious metals] would already be familiar with.

GL

Originally posted by OBE1

Originally posted by CranialSponge
Silver follows the gold trend, but at a more stable, slower pace (up or down).

You're kidding...right ?

Silver is famous, no, make that infamous for wicked volatility......against the relative stability of Gold, or any other asset you might choose to name. Remember that 10% gap down on May 1st culminating a 30% correction for Silver versus a peak to trough 10% correction in Gold ? If not, look no further than today's -4% vs -1%.

Does -60% vs -30% 2008 ring a bell ?

Forive me for not going into the why's. This is fundamental information that anybody touting 22 years of experience in finance [with even a cursory emphasis on precious metals] would already be familiar with.

GL

You're talking about recent past short-term US economic impacts...

I'm talking about long-term conversion of precious metals back into the currency market and possibly working its way back again as the currency of choice for international convertability. If this happens, and it's a high probability that it will, the US dollar will no longer dictate the market value of either.

Silver WILL follow the same trend as gold now.

Originally posted by CranialSponge
You're talking about recent past short-term US economic impacts...

I'm talking about long-term conversion of precious metals back into the currency market and possibly working its way back again as the currency of choice for international convertability. If this happens, and it's a high probability that it will, the US dollar will no longer dictate the market value of either.

Silver WILL follow the same trend as gold now.

Really ?

I thought you said....

Originally posted by CranialSponge
Silver follows the gold trend, but at a more stable, slower pace (up or down).

You're clearly using the present tense here, and nowhere in this thread did you speculate on the possibility of a future bi-metal standard....not relative to this statement, nor or as a stand alone premise.

Originally posted by CranialSponge
You're talking about recent past short-term US economic impacts...

Economic impacts ?

You mean GDP ? Corporate profits ? Employment rates, output gaps, trade deficits ?

C'mon fella, I simply addressed your [faulty] claim that Silver is more stable than Gold. In fact Gold is far more stable as I demonstrated, and has been since the collapse of Bretton Woods 73.

And when asked to support your claim that Gold is an asset bubble you offered....

Originally posted by CranialSponge
I just simply base it on 22 years of working in the finance/economic industry.

Take from it what you will.

Sorry, not good enough.

You continued with....

Originally posted by CranialSponge
What I'm saying is gold is yet another "bubble" of the times that's going to burst due to global economics, and it has nothing to do (this time) with the US dollar. The rate of increase for gold will continue to rise until it pushes the global envelope, at which point it will "bubble burst" and plummet until it reaches it's balance alongside global supply and demand... right now it's a numbers game in an attempt to stabilize the US economy.

I see now, Gold is another "bubble", gonna burst due to "global economics". Well that certainly explains it.

"The rate of increase for gold will continue to rise until it pushes the global envelope...."

Right, "global envelope", forgot about that...thanks for the gibber....er, I mean clarity.

Cheers!

I don't know if this works for gold, but warren buffet said he made all his money swimming against the stream, when everyone is buying, he's selling, and vice versa

and isn't this what you always read about 6 months before the bubble bursts ?

I'd sell in 3 months, maybe 4

Originally posted by syrinx high priest
I don't know if this works for gold, but warren buffet said he made all his money swimming against the stream, when everyone is buying, he's selling, and vice versa

In May of 2006 Buffet announced he had liquidated Berkshires 130MM ounce hoard of Silver.

"I bought it very early, I sold it very early. Other than that it was perfect,” he joked.

After coining the phrase: Weapons of Financial Mass Destruction, Buffet got is tit caught in the wringer over some derivative bets involving AIG - Link. Quite a little scandal. Word on the street says he was taken to the woodshed by TPTB and forced to sell all 130MM ozs. Coincidentally [I doubt it] Barclays was in the process of launching the first ever Silver ETF, SLV and they needed major supply. Ultimately the ETF was quietly funded by late April 2006 with...you guessed it...130MM ounces.

Not only does the ETF siphon-off investment demand that would otherwise funnel into physical bullion, but had Barclays gone into the open market for that amount of supply, ka-ching!, there would have been an immediate spark in the market price of Silver.

Manipulators - 1

Retail investors - 0

Buffett Loses His Silver

Mr. Buffett always said he would make it known when he sold his silver and he kept his word, using the occasion of his company’s annual meeting to tell of the sale. While he did not reveal the exact amount, time and price of the sale, he indicated that he "sold too early" and did not profit from the sale. I found that very surprising and particularly unusual for Buffett. - Full Text

Win some, lose some...and in the end, I guess Buffet puts his pants on one leg at a time just like everybody else.

Cheers!

Originally posted by OBE1

Originally posted by CranialSponge
You're talking about recent past short-term US economic impacts...

I'm talking about long-term conversion of precious metals back into the currency market and possibly working its way back again as the currency of choice for international convertability. If this happens, and it's a high probability that it will, the US dollar will no longer dictate the market value of either.

Silver WILL follow the same trend as gold now.

Really ?

I thought you said....

Originally posted by CranialSponge
Silver follows the gold trend, but at a more stable, slower pace (up or down).

You're clearly using the present tense here, and nowhere in this thread did you speculate on the possibility of a future bi-metal standard....not relative to this statement, nor or as a stand alone premise.

Originally posted by CranialSponge
You're talking about recent past short-term US economic impacts...

Economic impacts ?

You mean GDP ? Corporate profits ? Employment rates, output gaps, trade deficits ?

C'mon fella, I simply addressed your [faulty] claim that Silver is more stable than Gold. In fact Gold is far more stable as I demonstrated, and has been since the collapse of Bretton Woods 73.

And when asked to support your claim that Gold is an asset bubble you offered....

Originally posted by CranialSponge
I just simply base it on 22 years of working in the finance/economic industry.

Take from it what you will.

Sorry, not good enough.

You continued with....

Originally posted by CranialSponge
What I'm saying is gold is yet another "bubble" of the times that's going to burst due to global economics, and it has nothing to do (this time) with the US dollar. The rate of increase for gold will continue to rise until it pushes the global envelope, at which point it will "bubble burst" and plummet until it reaches it's balance alongside global supply and demand... right now it's a numbers game in an attempt to stabilize the US economy.

I see now, Gold is another "bubble", gonna burst due to "global economics". Well that certainly explains it.

"The rate of increase for gold will continue to rise until it pushes the global envelope...."

Right, "global envelope", forgot about that...thanks for the gibber....er, I mean clarity.

Cheers!

Plain and simply put:

Fiat currency is on its way out.
More specifically, the USD as an anchor currency.

Thus the fed's will no longer hold dominance over gold/silver pushing its value all over the damn place like a commodity instead of the true currency that it is.

Silver is no more "volatile" than gold. Period.

The fact of the matter is that neither of them is volatile at all, and the fraudulent banksters making them such since the induction of fiat currency is soon coming to an end.

Gold and it's close family relative, silver, will both stabilize, and continue to climb in price for the duration of the big global shopping spree until such time that it becomes the new reserve currency. Once that happens, GDP will push precious metal prices back down to a more viable international trade currency.

My suspicion is the big gold shopping spree will come to a halt in the next year or two as supply maxes over production rate. And it'll be sometime soon after that when the USD gets yanked out of the equation.

As for your attempted pissing match over comprehension (or lackthereof) from my posts, I'm not even going to go there... nor am I interested in arguing semantics with you.

I'm done.