Im shorting gold and I dont care what anyone on ET has to say Price right now: $1002
- Thread starter Port1385
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From Websters:
Main Entry: de·fla·tion
Pronunciation: \di-ˈflâ-shən, ˌdç-\
Function: noun
Date: 1891
2 : a contraction in the volume of available money or credit that results in a general decline in prices..
YES, we have seen a decline in SOME assets...but overall most consumer prices are still fucking high.
You noobs hit the deflation button as quick as you hit the ignore button...
Putz. The truth hurts...
gold seems to have found support at the 900's. Good time 2 take profit.
Let me tell you a little about deflation. 
I gauge deflation by the restaurants and stores in my area. All of the restaurants are rolling back prices. Stores are having unbelievable sales. Besides them, however, insurance companies are rolling back rates...car dealers are having extreme sales just barely covering the cost or simply taking a loss...
I just went to a Boston Market today where they were running a two for 1 deal. You eat there today then you eat there free tommorrow. Huh?
Prices are obviously on the way down and I dont need a chart to realize they are not...
How can gold keep going up when everything else is going down?
I gauge deflation by the restaurants and stores in my area. All of the restaurants are rolling back prices. Stores are having unbelievable sales. Besides them, however, insurance companies are rolling back rates...car dealers are having extreme sales just barely covering the cost or simply taking a loss...I just went to a Boston Market today where they were running a two for 1 deal. You eat there today then you eat there free tommorrow. Huh?
Prices are obviously on the way down and I dont need a chart to realize they are not...
How can gold keep going up when everything else is going down?
it's simple... there's no where else to put your money. take a look at the 13Fs of the largest funds and you'll see GLD in the top 5 positions across most of the major funds. hop onto bloomberg and do GLD Equity HDS <GO> and you'll see what i mean. another trader at my fund has been buying gold bullion and stores it in a safe along with his new sig sauer handgun... he's a little paranoid but you get the idea.
The destruction of the financials: another very good reason for gold to go up when everything else is going down.
I'm betwixt & between: some people I know are waiting for it to break before buying, using the exact same deflation argument you see here; others, well, aren't. As of right now, I'm long GDX, but that could change in a heartbeat. I can't believe the S&P could go much lower than where we are now, on the one hand; on the other, the whole world looks like it's insolvent.
I do of course have some actual gold locked away, so here I'm just talking about what to trade. Basis on that actual stuff from the days when the Newmont CEO was complaining that no one could make money mining the stuff at a price below 350.
Back then I was a madman. Now, everyone wants to know what I think.
In real life, that is. Much tougher crowd in this place.
I'm betwixt & between: some people I know are waiting for it to break before buying, using the exact same deflation argument you see here; others, well, aren't. As of right now, I'm long GDX, but that could change in a heartbeat. I can't believe the S&P could go much lower than where we are now, on the one hand; on the other, the whole world looks like it's insolvent.
I do of course have some actual gold locked away, so here I'm just talking about what to trade. Basis on that actual stuff from the days when the Newmont CEO was complaining that no one could make money mining the stuff at a price below 350.
Back then I was a madman. Now, everyone wants to know what I think.
In real life, that is. Much tougher crowd in this place.