All times are U.S. Mountain Time
(Yesterday's Discussion.)
Black Blade (3/4/07; 23:47:21MT - usagold.com msg#: 153037)
"Black Monday"
Black Blade: The Nikkei was down 624 points at 1 a.m. & the Dow Jones futures slipped to minus 114. The world is definitely coming to an end. Looking even worse now.
In a word - "Grim"
Liberty Head (3/4/07; 23:44:18MT - usagold.com msg#: 153036)
A Clue
While global stock markets are in general decline, WEYERHAEUSER stock was going up.
Looks like somebody is expecting a higher demand for paper products. Ah ha ha ha ha ha ha ha ha ha ha ha
Best Wishes
Black Blade (3/4/07; 23:41:32MT - usagold.com msg#: 153035)
Nikkei books biggest loss in 9 months
http://yahoo.reuters.com/news/articlehybrid.aspx?storyID=urn:newsml:reuters.com:20070305:MTFH13549_2007-03-05_06-11-53_T285432&type=comktNews&rpc=44
The sell off is accelerating. When the Mikkei closes for mid-session it should be interesting to see what the reaction is in the second daily trading session. So far it appears that a pervasive weakness exists in the Asian markets. The European markets appear set to open sharply lower and the US market futures are sharply off indicating a possible sharp drop in the opening minutes of trade on Wall Street.
- Black Blade
Goldilox (3/4/07; 23:39:17MT - usagold.com msg#: 153034)
The Pound Sterling
http://www.netdania.com/ChartApplet.asp?symbol=GBPUSD
The pound, which was threatening a 2:1 $ ratio not long ago, is also not fairing well.
It's back down under 1,93.
Goldilox (3/4/07; 23:32:11MT - usagold.com msg#: 153033)
TABLE-HK short selling turnover HK$2.01 bln by lunch
https://us.etrade.com/e/t/invest/globalstory?articleid=2816338
snip:
HONG KONG, March 5 (Reuters) - Short selling transactions
amounted to HK$2.01 billion by midsession on Monday, compared
with HK$1.26 billion at the same time on Friday, the Stock
Exchange of Hong Kong said.
A total of 181.08 million shares of 162 companies were sold
short.
-Goldilox
The caca is being "spread".
Goldilox (3/4/07; 23:28:38MT - usagold.com msg#: 153032)
Nikkei tumble joined by Hang Seng and Shanghai Composite Index
https://us.etrade.com/e/t/invest/globalstory?articleid=2816339
snip:
SHANGHAI, March 5 (Reuters) - Chinese shares fell 3.5 percent by early afternoon trade on Monday, led by blue chips, as the market was hit by weakness on global markets and a cautious mood during the country's annual parliament session.
The Shanghai Composite Index was down 3.5 percent at 2,732.423 at 0526 GMT. Turnover in Shanghai A shares was a heavy 51.8 billion yuan ($6.7 billion) by midday.
Shanghai's fall was in line with a 3 percent drop in the Hong Kong benchmark index.
"The market was affected by weak global markets, including falls in Hong kong and Japan today," said analyst Yang Weicong at United Securities. "Also, the NPC session is a sensitive period as it brings many kinds of news -- both good and bad."
This year's meeting of the National People's Congress (NPC), China's parliament, kicked off on Monday.
Investors continued to sell financial stocks, which led a plunge in stocks last week.
Sierra Madre (3/4/07; 23:09:24MT - usagold.com msg#: 153031)
NIKKEI -
Nikkei now down 3.7%
Aiyee! Panic!
SIERRA
Sierra Madre (3/4/07; 23:07:22MT - usagold.com msg#: 153030)
That chart last Autumn..
Remember that chart back about October 2006, showing how the stock market follows so closely the housing market, with a 12 month lag?
Maybe that lag is finally making itself felt.
Does anyone have that chart? Would be interesting to take a look at it now.
SIERRA
melda laure (3/4/07; 23:04:08MT - usagold.com msg#: 153029)
The special leprechaun buying season hath arrived.
An' they'll be a grabbin' anythin that gets jostled out o your nasty little pocketses.
Hmm... the flations? Well I suppose... yet when things get bumpy it often seems to me that the money becomes more reactive than resistive, and reactances can be negative... that is to say they often behave in non-newtonian fashion. Best to carry the battle to the enemy, with lots o green.
Fill the pot.
Goldilox (3/4/07; 22:47:57MT - usagold.com msg#: 153028)
Nikkei now down 3% - 500 points
http://today.reuters.com/news/articleinvesting.aspx?view=CN&storyID=2007-03-05T051223Z_01_T305852_RTRIDST_0_MARKETS-JAPAN-STOCKS-UPDATE-7.XML&rpc=66&type=qcna
snip:
"If New York continues to slide and the yen continues to strengthen at this pace, there is no bottom in sight for Japan," said Kirby Daley, a strategist at brokerage Fimat.
-Goldilox
"Falling, yes I am falling,
And she keeps calling . . . me back again."
The web bot report for the week came out today, and it is BLEAK!
GOLD FINGER (3/4/07; 21:18:59MT - usagold.com msg#: 153027)
How about a little stock guessing contest?
Hello Gold Bugs.....
How many points will the DOW loose tomorrow after it closes?
100 points?
200 points?
300 points?
Over 400 points?
I guess over 400 points!!
What's the prize you maybe wondering??
ANYONE WHO OWNS PHYSICAL GOLD WILL BE A WINNER!!
GET SUM NOW WHILE IT'S A DEAL!!
GF
Black Blade (3/4/07; 21:08:16MT - usagold.com msg#: 153026)
"I See Red People"
http://finance.yahoo.com/intlindices?e=asia
Black Blade: Looks especially grim in Asian trade. "Red" across the board.
Silver Fox (3/4/07; 20:49:33MT - usagold.com msg#: 153025)
Macro Issues
Well boys, hold on to your hats. We all know that the economic floor is made of wood, and it isinfested with termites. Now, the question becomes, does the s--t hit the fan this month, or as some well informed pundits believe, we only have a minor dip, and watch the dive in 6 to 8 months in the future...
One thing for sure, March is going to be an interesting month.
(Damn, this is so much better than any action packed adventure!!!)
Hope you are holding gold & silver.
Good luck & good fortune.
SF
Black Blade (3/4/07; 20:23:31MT - usagold.com msg#: 153024)
U.S. Heading For Financial Trouble?
http://www.cbsnews.com/stories/2007/03/01/60minutes/main2528226.shtml
Snippit:
CBS) When the stock market plunges like it did this week, everyone pays attention. The man you're about to meet says hardly anyone is paying attention to what really threatens our financial future. Like an Old Testament prophet, David Walker has been traveling the country, urging people to "wake up before it's too late."
But David Walker is no wild-eyed zealot. As Steve Kroft reports, David Walker is an accountant, the nation's top accountant to be exact, the comptroller general of the United States. He has totaled up our government's income, liabilities, and future obligations and concluded the numbers simply don't add up. And he's not alone. Its been called the "dirty little secret everyone in Washington knows" – a set of financial truths so inconvenient that most elected officials don't even want to talk about them, which is exactly why David Walker does.
Black Blade: Too bad this article is narrowly focussed. I would like him or the Treasury Sec. to discuss our national debt that now is in excess of $56 Trillion (on and off budget items). The last Treasury Sec. to spill the beans was Paul O'Neill, and he only did that to get back at the insiders who got him fired.
flow5 (3/4/07; 20:16:35MT - usagold.com msg#: 153023)
Armstrong
Holy toledo! What kind of drugs are these guys on?
contrarian (3/4/07; 20:06:40MT - usagold.com msg#: 153022)
Armstrong's Call
Articfox--yes, I follow Armstrong's work, and posted here a few days ago the info about the amazing call he made for a turning point on 2007.15, which came to Feb 27, the day the Dow crashed 400 points. I think his work is brilliant and should be followed. My posting elicited no comment at the time, perhaps because this isn't a stock site, but actually the cycle can be useful for perusers of this site. It can be used as a guidepost for entering and exiting precious metals, as Urban Survival once posited, I believe--this global business cycle. It would be a contrary play.
flow5 (3/4/07; 20:01:47MT - usagold.com msg#: 153021)
Crash Mode
The history of pegged exchange rates, is that eventually, they collapse. Far East countries, which are export dependent, must at some juncture, reverse their foreign exchange positions.
For the U.S., imported oil, combined with unilateral transfers of funds by the Federal government to foreigners, ensure perpetual mammoth trade deficits, and an inexorable decline in the exchange value of the dollar.
Inevitably, the declining exchange value of the dollar vis-'vis the major currencies, will increase the number of depreciating, unwanted U.S. dollars, and magnify our trade deficits. Ultimately, there will be fewer dollars to recycle globally (fewer imports), higher interest rates, and higher prices.
GOLD FINGER (3/4/07; 19:55:21MT - usagold.com msg#: 153020)
I do believe.....
RECESSION IS IMINENT!
Have a glorious tomorrow!
GF
Black Blade (3/4/07; 19:46:07MT - usagold.com msg#: 153019)
Looking Grim Tonight
http://money.cnn.com/data/premarket/index.html
U.S. market index futures are down sharply (especially compared to "fair value"). At the current levels we are looking at a continuance of a tumbling market. We might be looking at "Black Monday" unless "The President's Working Group on Financial Markets" can step in overnight and flood some liquidity into the markets. Right now it looks rather grim.
- Black Blade
ji (3/4/07; 19:45:09MT - usagold.com msg#: 153018)
Human effort
The volume or velocity of money doesn't matter. What matters is that the human effort to produce whatever is used as money is equal to the value of the human effort it is traded for.
Arcticfox (3/4/07; 19:41:43MT - usagold.com msg#: 153017)
Anyone here follow Armstrong's work..This was written in 1999
http://www.nowandfutures.com/buscycle.htm
but look at 2007.15 on the graph...
Cometose (3/4/07; 18:58:07MT - usagold.com msg#: 153015)
Flow 5 Elliot Wave Theorist doubter
His predictions haven't been right either
He didn't make any money on his hunches that were in book form ......
only made money on his books ...........
Probably not an authority that one should take at his word ,because he didn't get results based on his VERBAL AFFIRMATIONS..
His talk in his books is the only medium through which he can make up for losses he sustained on his MISCALLS
Black Blade (3/4/07; 18:44:36MT - usagold.com msg#: 153014)
WE ARE IN CRASH MODE
http://today.reuters.com/investing/worldmarkets.aspx
The Nikkei is in free fall at the open, the Aussie and Kiwi markets are following and the Hang Seng is expected to crumble at the open. Looks grim outta the gate.
Gold and Silver "portfolio insurance" is looking good about now even after the hedgies sell off last week to scrounge up cash to cover huge losses in the equities and mortgage securities markets.
As always, get outta debt and stay outta debt, stash enough emergency cash for several months' expenses, accumulate Gold and Silver "portfolio insurance", and start a storage program of nonperishable food and basic necessities.
- Black Blade
flow5 (3/4/07; 18:09:32MT - usagold.com msg#: 153013)
Inflation: A Monetary Phenomenon
With the exception of hyperinflation, all the "flations" are the consequence of "too much money chasing too few goods and services", or the opposite. Inflation represents a chronic "across-the-board" increase in prices, or, looking at the other side of the coin, depreciation in money. If the depreciation of money is the consequence of a loss of confidence in the credit worthiness of the government, we have hyperinflation. The ultimate hyperinflations result when the existing government is destroyed, making its currency worthless - a 100 percent depreciation. There are, of course, degrees of hyperinflation.
It is a truism that if the flow of money in the market place increases relative to the flow of goods and services offered for sale, prices on the average will rise. Therefore, to say that a cartel or monopoly that posts a higher administered price causes inflation has to be premised on the assumption that the monetary authorities respond to such price fixing practices by increasing the volume of money and/or the public responds by increasing the rate of flow (transactions velocity) of money. The same reasoning applies to increases in wages achieved through the monopoly powers of a union. These price increases will result in a transfer of purchasing power and wealth to the groups with dominant economic powers. The resulting price distortions will weaken and depress the economy, increasing unemployment and ultimately creating a deflationary effect.
If the response of the monetary authorities is to provide additional legal reserves to the banking system, resulting in an expansion of bank credit and the money supply, other prices will rise and the monopolistically created prices will be "validated". This obviously may lead to an administered price ---credit money spiral, and we have the core of chronic inflation. If the monetary authorities try to compromise the situation and reduce the rate of inflation, we end up with stagflation. But this is preferable to an all out monetary effort to create full employment irrespective of the inflationary effects. For if the rates of inflation increase, so will interest rates; and high interest rates alone are a sufficient factor to induce a severe recession or even a depression.
In other words, the powers of the Fed are limited. The solution to this problem is to eliminate, or sharply reduce the economic powers of monopolies, oligopolies and any other form of concentration of economic power. How to do this without the creation of an authoritarian state has yet to be discovered.
flow5 (3/4/07; 17:40:59MT - usagold.com msg#: 153012)
The Elliott Wave Theorist
I have no faith in someone that can't even get their 800 number right.
mikal (3/4/07; 14:48:50MT - usagold.com msg#: 153011)
(No Subject)
http://news.goldseek.com/InternationalForecaster/1173024180.php
International Forecaster March 2007 (#1) - Gold, Silver, Economy + More
By: Bob Chapman, The International Forecast - Posted Sunday, 4 March 2007 |
Snips:
The nation's manufacturing sector, or what is left of it, slipped into recession over the past year, but our media, Wall Street, our government and corporate America somehow didn't notice it. Now we are told, after multiple revisions, that GDP growth in the third quarter of 2006 was 3% and in the fourth quarter 2.2%. The later only two weeks ago was revised from 2.6%, up to 3.5%. Obviously the government is either hopelessly incompetent or was lying. We defer to the latter. Our Commerce Department tells us orders for durable goods, like computers, vehicles, aircraft and factory machines, plunged almost 8%.
These factors add fuel to the fire as markets in Europe and Japan fell as the Chinese stock market plummeted some 10%. US markets fell 3 to 4 percent, the worst fall since 2003. This is significant because with all their funds the "Working Group on Financial Markets" could not arrest the downward tidal wave even with the help of the Fed, although they found time and money to again viciously attack gold and silver. Of course, the market problems were the result of a computer glitch and if you believe that we have a bridge for sale you should take a look at.
We are in a recession, a real recession and not only manufacturing is telling us that, but so are the credit and housing markets. We have been in recession for a year and few professionals and investors know it yet. Can they be that dumb? We do not think so. They are in denial. They do not want their money feast to end.
Bad numbers have been coming for six months, but with market manipulation the players figured the elitists could keep the game going indefinitely. Even though manufacturing is only 12-14% of GDP, if it is in recession it is problematic for the entire economy. We also have high home inventories and foreclosures and a housing slump. We see GDP falling three quarters in a row, which sets a trend, a downward trend. The Street is again betting that there is a 52% chance of an interest rate cut. Maybe, that is if the Fed wants the dollar to collapse. Foreigners are not going to roll Treasuries and agencies if US yields fall as other rates are rising in England, Europe and in other countries.
The housing problems are approaching a crisis that will play itself out over the next 2-1/2 years as we predicted so long ago. The economy is facing major risks and most people are oblivious to them or in denial. This is human nature and it is natural, but it does nothing to make the problem go away.
The cartel in spite of their recent success in knocking gold and silver lower again is losing power. Their behavior is blatant and that of someone disparate. The US Treasury is trying to control the unwinding and sale of US dollar positions and at the same time orchestrating a flight into Treasuries. This is bullish, especially when they have to use the access market to try to control gold. In their arrogance they want you to know they are screwing you and the world investing public. This is not the central banks of other countries, this is the go it alone now US Treasury and our Fed. This is not control – it is illusion of control by delusional people. This is their final act. We are about to become another Zimbabwe, so get ready for real hyperinflation as the Illuminati tries to keep the game going."
mikal (3/4/07; 13:46:01MT - usagold.com msg#: 153009)
@Rook
Thank you, I cannot elaborate on the Council on Foreign Relations position paper you linked.
Aside from the happy economy of words, a mere summary statement can be seen to be both salutary to the prevailing tone of the gold forum and most effective in rebuttal.
Neocon warmongering and isolationism in service of the military/security/industrial complex and it's affiliated illegal arms, drug and slave trade, cannot substitute for actual progress and enlightened governance in support of continuing the life of the universe and incraesing the good life of all lives.
USAGOLD / Centennial Precious Metals, Inc. (3/4/07; 13:23:57MT - usagold.com msg#: 153008)
A prize mermaid that's found a good home. Congratulations, again, Tuco.
Tuco (3/4/07; 11:23:25MT - usagold.com msg#: 153007)
Thank You
The Danish 20 Kroner coin arrived. It is beautiful! MK, Gandalf, thank you for hosting the contest and offering such a wonderful prize.
Rook (3/4/07; 08:40:40MT - usagold.com msg#: 153006)
.,.
http://www.foreignaffairs.org/20060301faessay85204-p0/keir-a-lieber-daryl-g-press/the-rise-of-u-s-nuclear-primacy.html
During the last 2 weeks, I have begun to change my -walk on the sunny side of the street- view of what possible end games the big boys have in mind.
To save you link time, one of the end games of the big boys is to have the US as the only nuke power. This link provides info on the actual state of china/russia nuke deterrent. Thier nuke forces would not survive a US limited first strike.
The game that really changed America from gold to fiat, and the founding of the fed, is being steered by 2 factors from the view of those boys, thier preplanned actions, and the -murphys law- that interrupts them, temporarily.
slingshot (3/4/07; 07:48:01MT - usagold.com msg#: 153005)
Comet ose
What a nice term. Now to finish the hot water heater. Night Owling ;0)
Slingshot------------<>
CoBra(too) (3/4/07; 07:11:11MT - usagold.com msg#: 153004)
Dire Warnings from a friend ...
As in all good cycle work a lot of FA is builds the base. Whith the world in an ever growing debt trap - in particular the Western world Chopper Ben may be forced to upon all spigots soon. All bets for a soft landing will be off by then - for the economy, the currency system crashing under the $'s de(bt)ad weight, taking every and all financial assets, mortgages and hedge funds down along with it.
Guess you all know what to do in the next few months, but read my friend's memo carefully and stay calm, cool and collected as in time who will care if he bought his bulllion
a little on the high side when it's again the only value of importance.
cb2
.....
"Here are my thoughts after Tuesday and Friday. We still believe that a GOLDEN opportunity awaits us at lower prices...the $450 level is theoretically doable...but watch $526 as this may be the bottom...to be safe and not too smart, anything under $500 is a must buy...who cares if it drops to the worst possible level foreseen of $410. At $3,000 an ounce we will not be arguing about 50 to 90 dollars on the buy price! The important thing will be...are we there at all?
The bull market is/was 52 months old....the cycle must complete by the end of April...the next two months are going to create financial turmoil if we are to arrive at under 8000 on the Dow in the stated timeframe. May, we see distress selling and the possibility of picking up the bargains.
While we are 70% liquid...the 30% are largely...about 29% in precious metals and base metal stocks...
So dust off your buy orders and wait patiently poised like a rattlesnake ready to pounce on its prey...
I understand that at Beranke Helicopters Inc they are getting the helicopters ready for takeoff full of those pieces of green paper...however, there are so many to load that takeoff is not expected momentarily...but in a few months' time. Yes as we predicted ...an inflationary depression...and Notley saw this in 1979 when he trained me...amazing insight!
....
This week has brought a big change to the markets...a very major turning point which cannot be ignored. We expected it and we have planned for it. It was no surprise to us.
As of last night, the OBVs on some stocks have turned very ugly...Yamana, Coeur d'Alène, Northern Dynasty...to name but three
The big drop in Yamana of 19.1 million shares last evening has certainly got the alarm bells ringing. Even Kinross went into a downturn OBV wise. Remember volume always precedes price.
It is for this reason that I have had certain misgivings about Granville's buy signal of 4 January...we did respect it and moved some funds back to the market but not anywhere near our commitment in May 2005 or November 2000 when we were virtually 100% long in the precious metals and commodity sectors.
Here Ian Notley's work provided invaluable insight into where we were on the cycle...an extension...always higher risk..to be followed by the D phase of the cycle...which can be a nasty down or a painful patience testing sideways movement...
But I have these several Niagara Falls type OBV charts to look at where several huge down days are causing me to ponder long and hard...that just maybe our price objectives on the downside will be achieved setting up the fabulous buying opportunity which many will miss because of the fear factor which will prevail at the moment of opportunity. Take note from our Chinese friends...CRISIS is made up of two symbols..."fear" and "opportunity" in their sign language...sage thinking!
A clear mind, independent and aloof from the daily noise wlll be important together with Notley's charts and continued input from Granville and Prechter.
There is a certain amount of divergent opinion at the moment among the three...Granville being bullish on the gold stocks, Notley and Prechter being somewhat more cautious and looking for some downside action here.
This is now where the sheep and the goats will separate...
We need wisdom, discernment and courage over the next few weeks (months) to ascertain the moment to buy...it is conceivable we first have a few days of rebound and then another thumping. The months of March and April look particularly difficult and probably we may see some extreme turbulence in both directions as the war between the bulls and the bears moves up to a final major pitched battle. The outcome we believe to be a Dow en route to below 11,000 and then below 8,000...so the bears will win.
However with Tuesday's breakdown now in place and yesterday showing further weakness, will there be a rebound? Again 1929 is useful history material...we first had the Dow break from 384 to 290, the rebound to 340 before the grand smash to 190...followed by a 6 month recovery to April 1930 and after that it was curtains for 95% of the market EXCEPT the gold and silver stocks.
So there is the picture at the moment...a real challenge to those of us who try and do our homework and dismiss the trivial excuses of the media who offer China as the reason for this meltdown...that is a woeful and painful and trite explanation to find a scapegoat for serious problems at the very heart of the financial system particularly in the USA.
Here liquidity and freedom from debt are going to be vital to the financial survival of many people as finally the hedge fund and mutual fund mentality meets the real world.
Long term we firmly believe and have not changed our stance...commodity based (particularly gold and silver) investments will be a great place to be. Canada promises to have a great future for the next five years...but first we have to cross this hurdle. For those who have read my recommended reading list then the near future will cause you no difficulty since you have read and studied for this precipitous moment in financial history. If you have not already read Prechter's "Conquer the crash" (published 2002) this would be a good time to take crash course in its contents"!
....
Cometose (3/4/07; 05:43:08MT - usagold.com msg#: 153003)
Slingshot
You da man ..........
Night owling it again .......
Sorry , I was bit late getting up ........
Enjoy your rest ......
slingshot (3/4/07; 04:33:15MT - usagold.com msg#: 153002)
Good Morning
Sundeck and Cometose.
Slingshot-------<>
slingshot (3/4/07; 02:24:18MT - usagold.com msg#: 152994)
Topaz
I am sorry to hear that your have major restrictions. I want to tell you over the years of my military service, I have no better comrade to be with than a Brit, Goofy Newfy or Aussie on Liberty. They just do not run from a fight. But on another accord you are peaceful people. I will not give up my guns. I will not give up my gold. I will not Give up my LIBERTY and there are 250 thousand gun owners in the USA that say the same. Wait till they call us TERRORIST.
Slingshot-----------<>
Topaz (3/4/07; 01:53:04MT - usagold.com msg#: 152993)
slingy.
No ...or they make it real difficult, restricting you to target pistols, members of shooting clubs etc.
Of course, like all restrictions, it only applies to the honest types who willingly handed in their guns on request.
NZ doesn't have any restrictions as yet I'm told ...and there are still places in OZ where "the Law" hasn't quite caught up.
These places are like "Oases of Freedom" downunder slingy.
Posting-wise, I'm content to spray away in close too.
slingshot (3/4/07; 01:36:02MT - usagold.com msg#: 152992)
Topaz
Can you still have a weapon in OZ?
Slingy----<>
Topaz (3/4/07; 01:34:34MT - usagold.com msg#: 152991)
slingy
No mate, I'd just used Oil as an example where market participants are (largely) suppliers and "demanders" whereas with Gold (particularly) no such parties are in evidence ...or not nearly in the same proportions.
slingshot (3/4/07; 01:26:22MT - usagold.com msg#: 152990)
Tapaz 152989
Thank you. I'm the shotgun type.
Slingshot---------<>
Topaz (3/4/07; 01:23:29MT - usagold.com msg#: 152989)
@GOLD FINGER.
There are generally two types of poster GF. Those who can draw a bead from 3000yds and hit the bullseye with one shot ...then there's those who, although arguably equally adept in the end, prefer to use a 12 gauge from 25yds and blow the sucker to kingdom come.
The important thing imo is: just keep shootin 'till they don't shoot back!
slingshot (3/4/07; 01:20:32MT - usagold.com msg#: 152988)
Fixation. T.C. and Topaz
Did I not center on oil and missed the whole message.
Slingshot-----<>
TownCrier (3/4/07; 01:19:02MT - usagold.com msg#: 152987)
To hammer the point home
Gold 'enjoys' THE most perverse price discovery mechanism know to the modern marketplace.
Veritible "Good Eats" for the intelligent diner (-- to carry forward the A.B. theme).
Amen.
R.
TownCrier (3/4/07; 01:12:36MT - usagold.com msg#: 152986)
God luv ya, Topaz! This is why yer 1 of my favorites!
"the Price of Gold is determined by, on one hand a group who doesn't possess gold supplying the ASK side of the arrangement ...and a group who doesn't want gold, coming into the market to provide the BID..."
Alton Brown would readily identify that as a recipe designed to serve up deliciously cheap prices for all comers savvy enough to dine on the metal.
To borrow the words of one of our greats... "Get you some."
R.
slingshot (3/4/07; 01:10:42MT - usagold.com msg#: 152985)
Tannehill
Nice to see your out there, Chime in when you want. But there must be something that is bugging you?
Slingshot----------;0)
Topaz (3/4/07; 01:06:51MT - usagold.com msg#: 152984)
Currencies Gold.
http://www.galmarley.com/Chart_pages/currency_charts.htm
There was a time when I used to refer to "alt-currency" Gold ...where $PoG was a genuine proxy for the "others" namely currencies on the opposite side of DX.
As can be seen in the accompanying Charts, this is no longer the case as Gold NOW represents an alternative to ALL currencies.
We can rest assured this is but a means to an end compadre's ...not an end in itself.
Giddy-up aggie next week imo.
slingshot (3/4/07; 01:05:00MT - usagold.com msg#: 152983)
Hello Topaz
Good to hear from down under and your Grand daughters ride on a horse. Great beast they are and most intelligent.
I did have the priviledge to ride a working horse and had the most wonderful time,(terrifying) as to using the reigns and heels directing the animal. Ocala was her name and was most acute to each movement. There is nothing to discribe when man and beast act as one. Not your usual D*** A** Yankee.
Now to oil. there is nothing much more to say as the race to claim the resources that are finite Only the POG to POO.
Slingshot-------<>
Tannehill (3/4/07; 00:47:50MT - usagold.com msg#: 152982)
slingshot (3/4/07; 00:15:07MT
Nope, I don't have anything to say, just lurking by.
Topaz (3/4/07; 00:40:49MT - usagold.com msg#: 152981)
Hey slingy!
Just got back from giving the g-daughter her first horse-riding lesson ...getting her instructed I mean ...wow, that "pirelli" (sp?) method sure is user friendly both for Horse and fledgeling rider ;-)
A while back the subject of the Price of Oil came up. We identified that, in fact there were approx 20 P's of O dependant on factors as diverse as crude quality, transport etc and the PRICE generally quoted (say Brent) was but a reflection of the overall market.
It takes some stopping and thinking about eh? ...but once you've done it, it's filed away as only mildly relevant in the scheme of things.
Mildly relevant largely because Oil is consumed as fast as it's pulled from the ground. (give or take)
The same basic process for price discovery is also applied to Gold and Silver except that a whole lot of different circumstances come into play.
SO DIFFERENT is it that it could be said that the Price of Gold is determined by, on one hand a group who doesn't possess gold supplying the ASK side of the arrangement ...and a group who doesn't want gold, coming into the market to provide the BID...
...and via this quaint little arrangement, they expect ME to value my Gold in Hand accordingly?
Ain't gonna happen at MY place ...and many thousands of other places elsewhere I'd imagine.
slingshot (3/4/07; 00:37:51MT - usagold.com msg#: 152980)
Oh! the Horror of It All
In my past posts I stated I wanted to meet some of the Great Posters on this Forum. Well, I can understand the reserve not to. But, you can even ask my wife, I have the strangest ability to meet people in the most Arkward circumstances. So one day, in a crowd or resturant or what ever,a word, name will prompt me to say. Hey Are you so and so?
What a nice day that will be.
Slingshot---------<>
slingshot (3/4/07; 00:05:11MT - usagold.com msg#: 152978)
mikal
Picture is worth a thousand words, but preception much more.
Chow.
Slingshot--------<>
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