Please. Sell your Gold NOW! It's a trap.

reply to post by hero_25


I dont think that the OP is anti-gold per se as a vehicle to protect against paper assets but rather this last leg is a trap and not to buy it up there at 1900. If you are long from under 1000 you should not worry. If you bought it after the debt reduction by S&P then you will likely receive a "gut check"...some little guys will be forced out. Speculators rarely make money chasing the "hot commodity" even if we have been witnessing a paradigm shift in the role of gold as money (nothing new just the cycle coming around again). Buy Low - Sell High; altho the recent high is not "The High"...probably the top of w3 and now we are in the early stages of W4 which will be difficult for most investors to make money in and will serve to shake out the weak longs....the top of an extended W5 will be the real high and that could stretch out for a long time until gold is a part of the monetary system again. Goldbugs be careful what you wish for tho (gold monetization).as that will result in your gold being confiscated and failure to comply could cost you much more than your gold is worth plus ten years in the pokey....and yes, they do have ways now of knowing who is buying what, when and where.

The op has hit the NAIL on the HEAD.. People buying gold now, are making
the people who bought it back when, FILTHY rich...

I would go as far as calling them morons...

Gold is largely useless but very interesting from trading technicals. It has a strong bullish trend for the past years but also it has had a lack of corrections during its run,

reply to post by CosmicCitizen


But he doesn't say don't buy gold now at this price he says sell it.

If anyone has gold they need to keep it. It will not lose its value. It's something that has been used for thousands of years and has been a symbol of wealth for thousands of years v.s. paper.

It will continue to roll on towards 2000 dollars an ounce by the years end. Todays dip was just a market correction.

reply to post by galdur


Gold is nearly useless you say?
I don't know why you would think that.
geology.com...

Once again, all the nutjobs that think gold is in a bubble will come out and say "I told you so".

Then after this current correction in the price ends and Gold goes through $2,000 an ounce we will get another thread just like this one.

Don't get me wrong, gold will go into one of the biggest bubbles in history. The price will exceed a 1:1 ratio with the Dow. This is much further down the track.

Contrary to what the OP says, look at this current price correction as an opportunity to get your foot in the door. In my opinion silver is the better buy, but gold is still an excellent hedge against the carnage that lays ahead.

Originally posted by obummerdeception
The op has hit the NAIL on the HEAD.. People buying gold now, are making
the people who bought it back when, FILTHY rich...

I would go as far as calling them morons...

It's not just because a lot of people are currently buying Gold that the prices of Gold are going up. It's called INFLATION. Have you noticed the price of food these days? Everything is going up in price because it now takes more "worthless" dollars to purchase today what would have cost "half as much" only a few years ago.

What do you think will happen to the price of Gold (as well as ALL commodities) when the United States Dollar is no longer the "World Reserve Currency". I promise you, that is the NEXT shoe to drop. Not to mention, QE3 followed by QE4, QE5, QE6, etc.

Also... I keep posting this link. Here is what happens to the price of Gold EVERY TIME our debt ceiling is raised!

Originally posted by XplanetX
Once again, all the nutjobs that think gold is in a bubble will come out and say "I told you so".

Then after this current correction in the price ends and Gold goes through $2,000 an ounce we will get another thread just like this one.

It never ends! I'm glad I wasn't an idiot 3 years ago and listened to the same nut jobs trying to say that $800+ Gold was a bubble. 3 years later, my $17,000 in Gold is now worth $37,000. But... I guess I might as well admit that yep... I'm a dumb A$$ for buying Gold during the "Great Gold Bubble" of the 21st century! Ahhh shoot.... I guess I'll just have to sell my Gold next year when it is over $3,000 an ounce. By then, my $17,000 investment well only be worth $60,000 with a measly $43,000 profit. The OP is right... we are all IDIOTS! I must sell my Gold now! Hehe...

Don't get me wrong, gold will go into one of the biggest bubbles in history. The price will exceed a 1:1 ratio with the Dow. This is much further down the track.

Yes. Nothing can go up "forever". Otherwise one day an ounce of Gold could purchase the world! Obviously that can't happen. So sure... it is so easy to say that Gold is a Bubble. But so was the housing market in 2002... it just took 4 years to burst! Basically, the OP is trying to tell us to sell our house in 2002. I'd much rather wait until 2006 and sell my house at the peak of the bubble. Same thing with Gold! It still has a long ways to go folks.

Contrary to what the OP says, look at this current price correction as an opportunity to get your foot in the door. In my opinion silver is the better buy, but gold is still an excellent hedge against the carnage that lays ahead.

Great advice! I think you should always be about 50/50 with both Gold and Silver. It's always good to have both.

Originally posted by galadofwarthethird

Originally posted by hawkiye
OP has no clue what he is talking about. Gold and silver have always retained thier value (purchasing power) through out history. When the dollar collapses gold and silver WILL be the currency. In Zimbabwe people are digging and panning all day for a gram or two of gold just to eat...

Ah but there not doing that because they want to, there doing it because there under a parasitic system, and there info-structure was crushed long ago, thus making them slaves to those above them who know that gold is worthless but in the minds of those who believe in its worth. Why you ask? Because they cant set there own price for gold, but have to pander to those above them and there price.

And those above them like to keep them running in circles.

And so they have no choice but to be always in dept or like you said digging and working for others who get to set the standard of worth. And that's why crushing there infrastructure and means of survival is key and always the main goal of any take over or conquering that is going to be happening.

Its all about control and you being able to set a price for things, and offcourse making the rules.

And so there sitting on a gold mine "literally" and yet are dirt poor and starving to death.

What are you talking about? They are not working for anyone they are working for themselves just to find enough gold to get something to eat. Their currency collapsed because their government inflated it into oblivion. The only reason ours has not done the same is because the majority of oil trades still happen in US dollars. As soon as that stops happening enough the dollar is history.

reply to post by hero_25


Thats the best graph that I have seen in a while and people should take a long hard look at it before listening to any financial advice from the OP. people need to understand the connection between a downward spiraling economy and a rising Gold price.

28 Flags & 18 stars so far for this thread.
I dont think any Gold owners are amongst the 28/18.

I suggest when the World economies start to crash, then we will see a spike in the price of Gold and this will be the Bubble envelope. Until then the rise in Gold price just reflects the ever weakening of the US economy and the dollar, the availability of Physical Gold and the predominant buying.

PEACE,
RK

Note: DO NOT TAKE ANY FINANCIAL ADVICE OF ANYONE ON THIS SITE

Maybe this will enlighten the people who disagree, a reply to a poster in another thread that relates my stance and is relevant in this thread.

Originally posted by thejlxc
sbctinfantry, so if what you're saying is true. Gold is a trap, they may kick in your door to get it. What makes you think land or anything else is safe. Nothing AT ALL is safe, until the bankers and their imaginary debt is ended. Nothing else matters. I hope people see the truth before it's too late.

Nothing is garunteed, but you can live in a house and people must drink water and power their homes. Once you've got those things covered, if you still want gold I guess you could put your money into worse things.

I've written a thread on the topic anyway, and my investigation that is backed by scripture and not popular myth is that even Jesus himself died to the moneychangers for kicking them out of the Temple when they cornered the market for 'half-shekels'.

Even the best laid plans can fail, but lets hope that once gold evaporates and is stolen, people will band together to defend their Land, Water and Energy. For the average guy like you and me, non-hybrid non-gmo seeds are our real Gold.

I've gone into depth about the old saying "Gold is the money of kings, Silver of gentlemen, Barter of Poor, and Debt of Slaves". It does not mean that the Poor are unable to buy gold, they just can't use it in the same way Kings always have to hoard wealth and power. It is still occurring today, though the more modern form is cornering the market and manipulating the value. This has been done since gold became money. It is written in the Bible, it is part of Egypt's history, and it is history repeating itself today.

Don't ever forget that no matter what, you're in debt. The greatest illusion ever weaved by the moneychangers is that you are something more than a debt slave, just because your local bank account digital debit transaction reciept says your bank account has a positive value.

The Outstanding Public Debt as of 25 Aug 2011 at 02:01:40 PM GMT is:

The estimated population of the United States is 311,184,171
so each citizen's share of this debt is $47,097.17.

The National Debt has continued to increase an average of
$3.96 billion per day since September 28, 2007!
Concerned? Then tell Congress and the White House!

www.brillig.com...

So even after your weekly bills, after you've pinched all those pennies to get by, you still have this debt over your head that you never think about when you go out for entertainment on the weekend.

Check out the tread in my Signature to learn more about the Moneychangers. I also advise that gold is a bubble about to burst in another thread :

Get out of Gold now! It's a Trap!
www.abovetopsecret.com...

Keep in mind, the trolls are saying that I support the US Dollar over Gold. I do not. I also do not advise against gold, just advise against owning it before owning real assets. I only caution that in times of crisis, the government has outright stolen gold from it's people. I also advise that with country's demanding physical gold, it's going to be a really volatile investment. If you want security, gold does not offer it. If you want liquidity, gold does not offer it. If you want a monetary freeze of your assets, gold does not offer it. If you want a garuntee you will be able to feed yourself later, gold does not offer it. If you want to turn a profit, gold is not a garuntee, though if you had enough to manipulate the markets, it would be. That is what I am saying the moneychangers are doing.

Seeds to all the things I have mentioned in a time of real crisis. Selling food will net you gold as payment, far more at such a crucial moment than you would initially imagine. Also, it is sustainable. So you are investing in a future that secures you, turns a profit, and garuntees your stomach. Why do you think the MSM and Government are watching gold soar while preventing you from selling food?

Think about it. The flock is ripe for shearing, that's all I'm saying.

Aug. 18 (Bloomberg) -- Venezuelan President Hugo Chavez ordered the central bank to repatriate $11 billion of gold reserves held in developed nations' institutions such as the Bank of England as the metal rises to record levels behind a weakening U.S. dollar.

Venezuela, which holds 211 tons of its 365 tons of gold reserves in U.S., European, Canadian and Swiss institutions, will progressively return the bars to the central bank's vault, Chavez said yesterday. JPMorgan Chase & Co., Barclays Plc, Standard Chartered Plc and the Bank of Nova Scotia also hold Venezuelan gold, the president said.

"We've held 99 tons of gold at the Bank of England since 1980. I agree with bringing that home," Chavez said yesterday on state television. "It's a healthy decision."

Read More: www.sfgate.com.../g/a/2011/08/17/bloomberg1376-LQ3LOM1A1I4G01-4F3NV6CM4I0V2M0LDU44MOQ0H4.DTL

Chavez orders the return of his gold. I think it's a healthy decision, aside from nationalizing his gold industry, and siezing the mines from foreign miners, he is being careful because there is talk of freezing his assets.

I'm not on the side of Chavez, but you have all heard the saying "Know thy enemy." It's not the first time the US has stolen gold from it's rightful owners. Let's also not forget that NATO forces just stole Gaddafi's gold.

Now that Gaddafi has a two million Libyan dinar (£1 million) price on his head ‘dead or alive’ it is only a matter of time before someone takes advantage of it.

As Gaddafi and his henchmen have been removed somebody (or bodies) have to take over and that will mean taking charge of all the Libyan assets that have been frozen in foreign countries as well as those, such as the gold, that remain undiscovered, together with the obvious oil reserves.

When you consider that a BBC report on 26th May 2011 put the value of the frozen Libyan Investment Authority (LIA) at about $70 billion, making it the 13th largest sovereign fund in the world (no mean feat for the 105th most populated country) you get an idea of the size of the asset pile people will be fighting for control over. £12 billion of this is frozen in the UK.

Read More: www.economicvoice.com...

Apparently the 100 tonnes of gold has not been found, and they say there are claims (not by who) that he spent at least 25 tonnes of it fighting for his country.

So, I'll just sit back and let all of you digest that for awhile.

I'm just going to say that my theory is that Libya gold will pay Venezuela, and the Libyan governmet will be forced into dealing with western powers for pumping their Oil. The gold will never be 'recovered' and it will be swept under the rug.

It's OK, just keep buying it up. It can never happen here.

Gold has fallen considerably but too early to tell if this will be a meaningful correction to rectify the overbought status of the yellow metal. Checking out the 200-day moving average around 1500 would be healthy for this market in my opinion.

Originally posted by hero_25

edit on 24-8-2011 by hero_25 because: Spelling

This graph explains it all. It doesn't have to do with manipulation as much as it does with the devaluation of the dollar. The dips before and after the debt limit being raised could be caused by manipulation.. but in the end, it doesn't really matter.

The only reason (IMO) you shouldn't get into PMs, is if you think the US economy is going to get better, and quickly. Are there other reasons why it would take an extremely lesser amount of our worthless dollars to buy gold? Only if our dollars became less worthless, right?

That being said, I wouldn't go out and buy a ton of gold at +$1,500oz. But if you have a bunch that you bought 5 years ago, now isn't the time to sell and head for the hills.

Originally posted by galdur
Gold has fallen considerably but too early to tell if this will be a meaningful correction to rectify the overbought status of the yellow metal. Checking out the 200-day moving average around 1500 would be healthy for this market in my opinion.

What most people just don't seem to get even here is that this has nothing to do with the value of gold. It is only about the value of the dollar. If it takes more FRN's to buy gold that has nothing to do with gold it just shows the value of the dollar is declining.

I get a good laugh when people say gold has fallen significantly when it is at historical highs and not even near its previous ceiling. This is the dollar doing its funeral dance is all. How long it will go on is anyone's guess. My guess is as long as oil trades mostly in dollars it will maintain some value. When that changes significantly it is history. The US government has shown they are willing to go to war to prevent oil from trading in non-dollars. So even other powers like China and Russia are treading lightly for the time being but they are also scheming to remove the dollar from oil so it is just a matter of time as countries around the world are getting out of dollars as fast as they can.

The price of dollar debt )money) is close to an all-time high.

If that which is bought with dollars is also simultaneously at an all time high, this is obviously an anomaly that will be corrected. The capitalization of the dollar bond market is probably at least ten times that of the gold market.

Honestly.... what is going on in this thread?

Sell off your gold?

Why? Do you work for the Federal Reserve Bank or something?

HAHAHA no, Not bloody likely.


Let me go ahead and tell you *WHY* gold is not a "Bubble" and isn't going to "Burst"

And do try and follow along, because there *WILL* be a test later on.


Okay.... the reason that Gold isn't going to "Lose it's Value" and that it *ISN'T* a bubble...


IS BECAUSE GOLD HAS NOT

ACTUALLY GAINED ANY VALUE

OVER THE PAST FEW YEARS[/SIZE]


What has happened, is that the value of the DOLLAR has plummeted, and SO, it requires more dollars to purchase a like amount of gold than it did when it was only valued at $300 an ounce.


The only way the price of GOLD is going to come back down, is if the VALUE of the DOLLAR *INCREASES*

And if the value of the dollar increases, and gold's price falls to $300 an ounce again.... guess what that means?

Yup, that's right... you haven't lost any VALUE... because those $300 dollars have the same VALUE as todays $1,800 dollars.

GOLD is a hedge against inflation, because it's value remains fairly constant.... Mainly because you can't just print billions of tons of the stuff out of thin air.

Calling the increasing price of gold a "Bubble" without examining the falling value of the dollar is a REALLY weak and transparent argument.

Back to the FRB with you.

I Invest in copper jacketed lead... If you do own gold, make sure it's tangible ...it'll be hard to barter with a certificate stating "I have X amount of gold"

reply to post by sbctinfantry


Actually the trap is for everyone to sell their gold and EFTs.
Once they do this, the price will plummet and who is going to scoop up all that cheap gold?
The rich and elite, so they have all the gold and the price will once again skyrocket.
However, when more chaos hits the world, your piece of gold won't get you a slice of bread or glass of water..
Unless you hit somebody with a gold brick.

Eurozone governments control about a third of world gold reserves. If you think they won´t sell it in a crisis, think again. The IMF sold 403 metric tons (one eighth of their holdings) in 2009 and 2010.