Amazingly, I still this is possible. Central banks are starting to tinker with the idea of dumping gold to close budget gaps. The recent failure of Gold at 915 on the recent rally was pretty convincing that we are still in a Gold Bear market on the Longer term trend. I actually added to my shorts at 905. I will hold all Gold shorts for a while unless Gold breaks above 950.
Marketsurfer's bold gold proclamation
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Amazingly, I still this is possible. Central banks are starting to tinker with the idea of dumping gold to close budget gaps. The recent failure of Gold at 915 on the recent rally was pretty convincing that we are still in a Gold Bear market on the Longer term trend. I actually added to my shorts at 905. I will hold all Gold shorts for a while unless Gold breaks above 950.
Yup, yup, you just hold onto those shorts!
Don't you see the world is beginning to realize that we have no ability to ever repay all this debt? The dollar is just debt piled on more debt, all the way to Pluto and back.
Lets be totally honest. The stimulus, no matter if its $800 billion or a TRILLION is going to fail. There is no way it can revive our economy. As long as we have the trade deficit, our economy is dead meat, because eventually our credit will be no good.
And guess what? Those dollars are going to be BAD DEBT before its over...
up upyes thats because there are many who do not want to believe gold is king.... shorting gold right now is like telling water its not wet....
Feel free to believe PAPER is worth more...
When the Bundesbank decides to sell ALL their gold I'll start thinking about it. Till then, I don't trust paper promises or debt.
When the Bundesbank decides to sell ALL their gold I'll start thinking about it. Till then, I don't trust paper promises or debt.
Quote from makloda:
Why is it I see the word "believing" popping more often in Gold related than any other threads? Is being long Gold a quasi-religion
if something is quasi-reliqion then it is a fiat currency, not the gold currency...
p.s. for makloda newbies from investopedia:
What Does Fiat Money Mean?
Currency that a government has declared to be legal tender, despite the fact that it has no intrinsic value and is not backed by reserves. Historically, most currencies were based on physical commodities such as gold or silver, but fiat money is based solely on faith.
Most of the world's paper money is fiat money. Because fiat money is not linked to physical reserves, it risks becoming worthless due to hyperinflation. If people lose faith in a nation's paper currency, the money will no longer hold any value.
I do wonder why this call remains open in Surfer's view, originally posted in April 08, so much has changed since that time, he suggested a low in stock market which we hit and went through and still might go throw, obviously projection on gold must have something to do with what was happening in stock markets, which is now a totally different picture. So?
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