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Thread: Gold Price Watch

  1. Default

    Quote Originally Posted by DA60 View Post
    Bernanke Says ‘Prepared to Do More’ After Policy Unchanged

    'Federal Reserve Chairman Ben S. Bernanke said the central bank stands ready to add to its stimulus if necessary even after leaving its policy unchanged today and upgrading its view of the economy for this year.
    “We remain prepared to do more as needed to make sure that this recovery continues and that inflation stays close to target,” he said at a press conference today following a meeting of the Federal Open Market Committee in Washington. Additional bond-buying is still “very much on the table.”'

    http://www.bloomberg.com/news/2012-0...unchanged.html
    Too bad to the FED, recovery = destruction, and target = death of a nation.
    Funny how when one talks of trade, national borders are imaginary. When one talks of immigration, national borders are imaginary. But when one talks of expansionism and imperialism, national borders become very real.

    I am Nationalist Capitalist. Labor in control of the state, with the means of production in private hands.

    I am an American, "Progress" is a word used by those who make things worse. I cringe when I see it.

  2. Default

    Quote Originally Posted by clarkatticus View Post
    Right now the banks are still de-leveraging, it will take another year at least before significant growth occurs. Gold is being driven up by speculation alone so it sits atop a giant bubble, all you guys that think it won't tank are the same guys who fought for deregulation. I find any product touted by someone like Beck to be so suspect as to have me running the other way. Bully for any of you who invested when it was in the 600's, but it might be a good time to invest somewhere else. I know you all wish for the mighty crash of the system but the powers that be won't allow it (by hook or crook). Plan for a recovery. Think about this post in a year, I'll be considered a prophet.
    Who on this thread has typed that gold will never tank?

    Of course it will tank one day (probably)...but not before the Fed starts fighting inflation by raising interest rates.

    Inflation is gold/silver's best friend (imo).

    And massive deficit spending feeds inflation.

    And where have you read that ANY major western government/central banks is balancing it's budget or raising interest rates significantly within the next 3 years?


    BTW - you did read today that Great Britain just went back into an official recession?

  3. Default

    Quote Originally Posted by DA60 View Post
    Who on this thread has typed that gold will never tank?

    Of course it will tank one day (probably)...but not before the Fed starts fighting inflation by raising interest rates.

    Inflation is gold/silver's best friend (imo).

    And massive deficit spending feeds inflation.

    And where have you read that ANY major western government/central banks is balancing it's budget or raising interest rates significantly within the next 3 years?


    BTW - you did read today that Great Britain just went back into an official recession?
    See..that's just it....the FED can but won't raise rates simply because the banks still have all the garbage that started this mess on their balance sheets. Then take into consideration the amount of debt the US is in and start calculating debt service. There is no way they can raise rates to anything meaningful in order to suck the liquidity back out of the market. Raise rates to fight inflation = banks fail + debt service becomes unsustainable. The stress tests performed on the banks are a joke. They come to their conclusions based on phony assumptions such as rates staying at zero.

    FED is out of ammunition. If they do what they need to do then we are going into a deep depression. If they continue on this path then hello Wiemar republic. The difference between us and the Weimar republic is that the dollar is the worlds reserve currency. Other nations namely emerging markets are not going to continue to import our inflation and are going to fight to change reserve status for the dollar. We either allow that to happen and the dollar collapses or we go to war.

    Then again...I may be wrong...maybe the US dollar and the FED are not subject to the same laws of economics and human action. Maybe they are impervious.

  4. Default

    Quote Originally Posted by DA60 View Post
    [1/27/2012]

    Gold closed out the week at $1738.35/oz.
    4/15/2013 - gold price - $1336.47


    Hedge Fund Billionaires John Paulson And David Einhorn Lost $640M In Gold Market Collapse

    4/15/2013

    John Paulson took a big hit on his gold holdings

    The gold bloodbath that hit the market over the past two trading sessions has definitely caused a dent in the portfolio of billionaire hedge fund managers. John Paulson and David Einhorn suffered combined losses of more than $640 million since Friday, according to their latest SEC filings, with the bulk concentrated in the former’s massive position in the SPDR Gold ETF. Einhorn’s Greenlight took a big hit on its holdings of the gold miners ETF.

    An implosion that appears to have started in the gold market last Friday spread throughout the commodities complex on Monday, with everything from crude oil to soybeans falling. Physical gold lost more than $200 per ounce, sliding nearly 15% over the past two trading sessions.

    Players in the gold market got hurt, and among those are some of the world’s most high-profile investors. John Paulson, of the eponymous hedge fund with approximately $20 billion under management, took a big hit. Just with his positions in gold miners Paulson lost more than $171 million over the past two trading sessions, if his latest disclosed holdings remained unchanged. Add an additional $430 million in losses from his 21.8 million stake in the SPDR Gold Trust, and total paper losses climb to $601 million.

    Among his individual gold equity positions, Paulson took the biggest hits in AngloGold Ashanti, Freeport McMoran (which has exposure to several other metals including copper and silver), and Novagold. Paulson & Co. is AngloGold’s largest shareholder, with more than 7% of the shares, and lost $93 million on that stake. Novagold, where the hedge fund titan owns 11.36% of shares outstanding, delivered losses worth $13.3 million, while Freeport McMoran’s losses added to $31.7 million.

    Fellow hedgie billionaire David Einhorn also suffered heavy losses, even though they were nowhere near Paulson’s. Einhorn’s Greenlight Capital, which had nearly $8 billion under management as of our latest count, had major positions in the Market Vectors Gold Miner ETF and Barrick Gold. With the later, which Paulson also owns, Einhorn’s hedge fund lost $9.7 million. On his position in the former, of which Greenlight owns about 3%, Einhorn lost $31 million, for a combined hit of $40.7 million.

    It remains unclear what caused the violent selloff. As I wrote previously, rumors of a forced sale of gold by the Cypriot government, along with calls by Goldman Sachs and other banks to short the yellow metal, and a weak GDP print from China, seem to have exacerbated the declines. Nervous margin call and stop-loss selling seem to have fueled a self perpetuating cycle, RBC Wealth Management’s George Gero told Forbes on Monday.

    http://www.forbes.com/sites/afonteve...old-bloodbath/
    Last edited by dujac; Apr 15 2013 at 07:32 PM.

  5. Smile

    Quote Originally Posted by dujac View Post
    4/15/2013 - gold price - $1336.47
    Hedge Fund Billionaires John Paulson And David Einhorn Lost $640M In Gold Market Collapse
    4/15/2013
    John Paulson took a big hit on his gold holdings
    The gold bloodbath that hit the market over the past two trading sessions has definitely caused a dent in the portfolio of billionaire hedge fund managers. John Paulson and David Einhorn suffered combined losses of more than $640 million since Friday, according to their latest SEC filings, with the bulk concentrated in the former’s massive position in the SPDR Gold ETF. Einhorn’s Greenlight took a big hit on its holdings of the gold miners ETF.... ...
    http://www.forbes.com/sites/afonteve...old-bloodbath/
    If they don't sell, all it is is a paper loss. Whether they sell will depend upon their wisdom I guess- that said, it they were fund managers, the gain/loss would be to their investors... then whether the final outcome is gain or loss would then depend on the decision of the investor whether he wants to liquidate his find holdings or hold on...the world isn't so simple... its the working of the wisdom of many people...
    Last edited by Bic_Cherry; Apr 16 2013 at 11:57 PM.
    ~ Matthew 25:40: "The King will reply, 'I tell you the truth, whatever you did for one of the least of these brothers of mine, you did for me.'"- (NIV)
    Regards
    B.C.

  6. Smile An exodus of Europeans and Americans to China and SE Asia in the near future?

    An exodus of Europeans and Americans to China and SE Asia in the near future?
    Quote Originally Posted by headhawg7 View Post
    From thread: Gold Price Watch
    See..that's just it....the FED can but won't raise rates simply because the banks still have all the garbage that started this mess on their balance sheets. Then take into consideration the amount of debt the US is in and start calculating debt service. There is no way they can raise rates to anything meaningful in order to suck the liquidity back out of the market. Raise rates to fight inflation = banks fail + debt service becomes unsustainable. The stress tests performed on the banks are a joke. They come to their conclusions based on phony assumptions such as rates staying at zero.

    FED is out of ammunition. If they do what they need to do then we are going into a deep depression. If they continue on this path then hello Wiemar republic. The difference between us and the Weimar republic is that the dollar is the worlds reserve currency. Other nations namely emerging markets are not going to continue to import our inflation and are going to fight to change reserve status for the dollar. We either allow that to happen and the dollar collapses or we go to war.

    Then again...I may be wrong...maybe the US dollar and the FED are not subject to the same laws of economics and human action. Maybe they are impervious.[bold font added]
    Nothing is not subject to the economic force of nature... agreed the FED is selling its family 'treasures' (the trust by the world in the USD). China isn't stupid, Chinese are good businessmen AFAIK, many are 1/2 honest (like Americans)... Current Chinese govt is fairly cautious/ sensible (maybe they know that USA has big weapons)... but in future, wont be surprised that Yuan will achieve world exchange status or even gold if the world avoids war along its path to economic progress. Along the way, people will suffer (like Zimbabwe) Wiemar republic like quality of life... the sick and the infirm will die and the living suffer, but life will go on... the ho-hum existence on Earth we all know too well. Inflation in the USA will spike and the FED raising interest rates would become a joke if the world dumped USD for either the Yuan (Indian Rupee? AUD, Sterling) or gold (and gold spikes to USD6000/oz (or higher))... quality of life in USA will go downhill and like the capital outflows from the USA due to FED quantitative easing (QE), an influx of US citizens as immigrants to Asia/ China will occur... such would be the population demographic of the near future.
    Last edited by Bic_Cherry; Apr 17 2013 at 12:16 AM.
    ~ Matthew 25:40: "The King will reply, 'I tell you the truth, whatever you did for one of the least of these brothers of mine, you did for me.'"- (NIV)
    Regards
    B.C.

  7. Default

    Quote Originally Posted by Bic_Cherry View Post

    If they don't sell, all it is is a paper loss. Whether they sell will depend upon their wisdom I guess- that said, it they were fund managers, the gain/loss would be to their investors... then whether the final outcome is gain or loss would then depend on the decision of the investor whether he wants to liquidate his find holdings or hold on...the world isn't so simple... its the working of the wisdom of many people...
    the point is that so many idiots in this thread were completely wrong

  8. Default

    Quote Originally Posted by dujac View Post
    the point is that so many idiots in this thread were completely wrong
    Sure, they may have been idiots to buy at almost 1800 dollars an ounce at the time, but in time you will be wrong. This is merely a massive corrective wave and was expected. The rate at which it declined so fast is the stuff that makes it look quite manipulated. It's a paper manipulation and there is a reason for it. You can't hardly find physical gold and silver at dealers without either a wait time or massive premium at this price. Paper and physical will eventually catch up. You think because gold has tanked it won't go back up? It's a flush out. But it was also done to burn out a bunch of over leveraged paper traders. Will it go lower, yep, sure will. Sentiment isn't at an all time low just yet. There is another reason as well. Global deflation is a major issue right now. Right, how can there be deflation when governments print all this money. That money isn't going into the economy, it's been going to banks to keep them alive and going to buying treasuries to keep interest rates low. It doesn't hit the money supply at all. Deflation is again rearing it's head, they were counting on the consumer going back to increasing their credit to the previous levels, but that hasn't happened. The consumer may be stupid, but they aren't as stupid as the US government when it comes to spending. They aren't going to do that again if they don't know if their job is safe. They've been burned enough to know better. They aren't going to "borrow" enough money to inflate this fake economy. Maybe if we got 0.25% interest rates on stuff we borrow, we might consider it, but we don't get that, only the banks do. So as deflation continues to be more of a possibility, Big Ben will eventually step in. First they will increase the current amount of 85 billion per month. That will make the stock market all happy, until it isn't enough. Then at some point in the future, Big Ben will have to inject this money directly into the money supply to stave off deflation. At that point, you have your recipe for major inflation.
    Last edited by Drago; Apr 20 2013 at 11:35 PM.

  9. Default

    Quote Originally Posted by Drago View Post

    Sure, they may have been idiots to buy at almost 1800 dollars an ounce at the time, but in time you will be wrong.
    show me anything i wrote that will be wrong

  10. Default

    Last edited by dujac; May 02 2013 at 11:57 AM.

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