Thread: Trading gold

Originally Posted by OhOh

If not Emma, many others would gladly go down on their knees.

yes, they would, but the weight of Gold asked would be higher than actual money they usually receive for their service

again, missing the point entirely about the real value of Gold. You guys are so far out there, you are missing the bigger picture

Originally Posted by draco888

i dont think you understand all the other characteristics of money if you are suggesting land

I think you completely missed the point I was making, gee what a surprise

I think I should downgrade you soon to Socal 1.4alpha1

Originally Posted by Butterfly

Originally Posted by socal

No technically they could not hold silver or platinum you moron. No element has the stock to flow ratio that gold has. And it took 6000 years for it to get that stock to flow ratio.

what you are saying is that they are plenty of Gold in terms of supply, so it's overpriced ? couldn't agree more

if there is an economic collapse as you suggest it (reminds me of the Mayan Calendar prediction), Gold won't be a savior, it will be a curse, but you nutters can't get around that concept with all the Kool-Aid you are drinking

No. I am saying that gold is not a commodity and that is why.

And when the US dollar does a 50% swan dive like the Thai baht and all the Asian countries (440 million ppl) did in 1997, how is gold going to possibly go with it when it never did in Asia and has never done in history ?

Originally Posted by Butterfly

Originally Posted by draco888

i dont think you understand all the other characteristics of money if you are suggesting land

I think you completely missed the point I was making, gee what a surprise

I think I should downgrade you soon to Socal 1.4alpha1

With the calls you have made here,(gold a bad investment at $1100) I am getting downgraded ?

You are just posting more and more to bury those shitty horrible calls. But don't bother. If you try and bury them I will just re-post them.

Originally Posted by socal

I am saying that gold is not a commodity and that is why.

you can call it food or even Emma for all I care, it's still a commodity despite what you and the other Gold blog nutters think and need to entertain your myths and fairy tales

Originally Posted by socal

gold a bad investment at $1100

investment my dear socal is not simply about momentum performance, but how risk is managed. Putting all your money into it is simply dumb.

But hey, you are welcome to try at home

Originally Posted by socal

I am getting downgraded ?

not you, can't go lower to 1.0

your alter ego was

Originally Posted by Butterfly

Originally Posted by socal

I am saying that gold is not a commodity and that is why.

you can call it food or even Emma for all I care, it's still a commodity despite what you and the other Gold blog nutters think and need to entertain your myths and fairy tales

As said before, you are just a brainwash victim of the US dollar cartel who put gold on a commodity exchange for the first time ever, a whopping 39 years ago.

Then the Bank for International Settlements makes it a tier one asset 38 years later

Face it. You know nothing about macro or micro economics. You know nothing about the history of money or finance.

Originally Posted by Butterfly

Originally Posted by socal

gold a bad investment at $1100

investment my dear socal is not simply about momentum performance, but how risk is managed. Putting all your money into it is simply dumb.

But hey, you are welcome to try at home

You can only buy as much gold as you understand. You understand exactly nothing so you own none and have not owned any since either of us joined this forum. Anyone can follow the cookie cutter investment mimes out there like you do but that isn't going to get you anywhere. Those are the same cookie cutters that had you invested in mortgage backed securities and bank stocks in 2007

I own as much as I understand also. Do I sound any different now then I did when gold was $1200 ?

25-06-2010, 08:53 PM #59 (permalink (Buying Gold with my Thai savings?) (Buying Gold with my Thai savings?)) Butterfly
Suspended Member



Join Date: Mar 2006
Posts: 35,436




oh yeah, gold, and how to buy an overvalued asset

don't listen to fools and hype, when the public is starting to buy gold, it's time to dump your holdings

Gold price $1200at the time

Originally Posted by socal

Do I sound any different now then I did when gold was $1200 ?

no, you sound as crazy as you were then

Originally Posted by socal

You can only buy as much gold as you understand. You understand exactly nothing so you own none and have not owned any since either of us joined this forum. Anyone can follow the cookie cutter investment mimes out there like you do but that isn't going to get you anywhere. Those are the same cookie cutters that had you invested in mortgage backed securities and bank stocks in 2007

ok I will bite, if money is to collapse, what value would Gold has if nobody has cash to pay for it ? payment in kind ? but how ? and who would determine such a rate of exchange ? one to one bargaining ?

I would also be interested in Socal 2.0 opinion on that matter, I assume he has similar projection about the end of the monetary world

Originally Posted by Butterfly

Originally Posted by socal

You can only buy as much gold as you understand. You understand exactly nothing so you own none and have not owned any since either of us joined this forum. Anyone can follow the cookie cutter investment mimes out there like you do but that isn't going to get you anywhere. Those are the same cookie cutters that had you invested in mortgage backed securities and bank stocks in 2007

ok I will bite, if money is to collapse, what value would Gold has if nobody has cash to pay for it ? payment in kind ? but how ? and who would determine such a rate of exchange ? one to one bargaining ?

I would also be interested in Socal 2.0 opinion on that matter, I assume he has similar projection about the end of the monetary world

in the event of a particular currency collapsing/depreciating the price of gold in that currency rises. hardly rocket science butterfly, many examples throughout history up to and including present times.

As for predictions of an end of the monetary world? I have made none and will make none because thats not going to happen. There will always exist fiat currencies in some form or another.

Originally Posted by Butterfly

Originally Posted by socal

I am saying that gold is not a commodity and that is why.

you can call it food or even Emma for all I care, it's still a commodity despite what you and the other Gold blog nutters think and need to entertain your myths and fairy tales

what amuses me Butters is that you actually have a far far higher conviction on gold than me! there is nothing more dangerous than a true believer on either side of the spectrum. You seem to jump right in whenever gold is mentioned, interesting...

I'm not sure what else you post about but it seems a mighty high proportion of them are about how gold is going to crash, of course if you keep saying this for long enough you will of course be right eventually. So we can look forward to your Pyrrhic victory having missed out on all the gains in the meantime.

There will be a time when gold is a shitty investment I just dont think that time has come yet.

Originally Posted by draco888

ignoring all the other characteristics which make land totally unsuitable as money.

again you completely missed my point,

I was simply stating that Gold, like Land, is not money. Really fucking simple.

Originally Posted by draco888

I'm not sure what else you post about but it seems a mighty high proportion of them are about how gold is going to crash,

That's not what I am saying, I am only saying it's a bubble and yes it could last for years. I had the same strong opinions about the DotBoom and the MBS subprime mess years before it happened, hardly rocket science either to make such predictions.

Originally Posted by draco888

So we can look forward to your Pyrrhic victory having missed out on all the gains in the meantime.

can't kiss all the girls, can't we ? plenty of assets with better and safer returns, can't chase them all

Originally Posted by Butterfly

Originally Posted by draco888

ignoring all the other characteristics which make land totally unsuitable as money.

again you completely missed my point,

I was simply stating that Gold, like Land, is not money. Really fucking simple.

The point you are missing is that it is if people consider it as such. Why do you believe you are the arbiter of such things despite overwhelming indications to the contrary? It may come as a rude awakening but your opinion does not validate something as fact. Do indians view gold as money? Yes I know these peasants are irrelevant in your opinion, just as your ideas are irrelevant to them. Hell I have even heard of some weird places that make coins out of gold because they considered it money, strange huh?

Perhaps you could enlighten us peasants what is money exactly?

Originally Posted by draco888

Originally Posted by Butterfly

Originally Posted by draco888

ignoring all the other characteristics which make land totally unsuitable as money.

again you completely missed my point,

I was simply stating that Gold, like Land, is not money. Really fucking simple.

Perhaps you could enlighten us peasants what is money exactly?

For me it's just paper that you need to pay your rent and buy food.

If you manage to amass quite a lot it can also help you get some nice looking poonani to suck on.

Originally Posted by Butterfly

Originally Posted by socal

You can only buy as much gold as you understand. You understand exactly nothing so you own none and have not owned any since either of us joined this forum. Anyone can follow the cookie cutter investment mimes out there like you do but that isn't going to get you anywhere. Those are the same cookie cutters that had you invested in mortgage backed securities and bank stocks in 2007

ok I will bite, if money is to collapse, what value would Gold has if nobody has cash to pay for it ? payment in kind ? but how ? and who would determine such a rate of exchange ? one to one bargaining ?

I would also be interested in Socal 2.0 opinion on that matter, I assume he has similar projection about the end of the monetary world

If a guy with Thai baht in 1996 exchanged it for gold before the 50% collapse of the baht, he would have insulated himself from the loss. He could then exchange the gold back to Baht and get double the Baht back.

Did gold "follow" the Baht ? Or any other Asian currencies ? Nope.

Why do you think this will be any diffrent for the US dollar ? , especially when you consider that there was 100 million more people effected by the Asian financial crisis in 1997 then there is in the USA.

It wont be. When the USD swan dives, gold will do what it always does.

Originally Posted by Butterfly

Originally Posted by draco888

ignoring all the other characteristics which make land totally unsuitable as money.

again you completely missed my point,

I was simply stating that Gold, like Land, is not money. Really fucking simple.

Originally Posted by draco888

I'm not sure what else you post about but it seems a mighty high proportion of them are about how gold is going to crash,

That's not what I am saying, I am only saying it's a bubble and yes it could last for years. I had the same strong opinions about the DotBoom and the MBS subprime mess years before it happened, hardly rocket science either to make such predictions.

Originally Posted by draco888

So we can look forward to your Pyrrhic victory having missed out on all the gains in the meantime.

can't kiss all the girls, can't we ? plenty of assets with better and safer returns, can't chase them all

If you are such a bubble hawk (which you are not) then why are you not talking about the 32 year old US treasury bond bull market ?

Are you aware of this bull market ?

Do you know it exists >?

I have not lived a day on this earth to see treasury bond prices fall yet gold is a bubble

First trade

Order at 33000 £ a kilo for .153 kilo on ny market Will be travelling monday. Maybe it will get filled on monday. Will see.

Originally Posted by Lostandfound

First trade

Order at 33000 £ a kilo for .153 kilo on ny market Will be travelling monday. Maybe it will get filled on monday. Will see.

So you are trading on margin ?

Originally Posted by draco888

The point you are missing is that it is if people consider it as such.

the point you are missing is that it doesn't matter what they think, they might think it's food, it doesn't change the characteristics of Gold and Land as an asset and how they function as assets. If someone wants to use Land as money, why not. It doesn't mean it is.

Originally Posted by draco888

Why do you believe you are the arbiter of such things despite overwhelming indications to the contrary?

I am not the arbiter, that's my point, and neither are the peasants or the other fools buying Gold.

If they want to use rocks as money, why not ? they can do it, doesn't mean that rock is money.

Originally Posted by draco888

Do indians view gold as money? Yes I know these peasants are irrelevant in your opinion, just as your ideas are irrelevant to them.

again, you are missing the point. They could use bones or rocks as money, doesn't mean it is today. What they believe is irrelevant. Assets like Gold and Land have well documented characteristics so trying to project differently those characteristics to fit your distorted world is irrelevant. That's all I am saying.

Originally Posted by draco888

Hell I have even heard of some weird places that make coins out of gold because they considered it money, strange huh?

yes, the coins are the money, not Gold. The Gold in the coin is the asset backing the currency, nothing else, it's collateral. If Gold was really money, we wouldn't bother making coins out of them, would we ? we would simply pay with "bits" of Gold but strangely, it's always coins

Originally Posted by socal

Originally Posted by Lostandfound

First trade

Order at 33000 £ a kilo for .153 kilo on ny market Will be travelling monday. Maybe it will get filled on monday. Will see.

So you are trading on margin ?

No idea

The bullionvault deal allows you to put a buy order in at any price,so i have put a buy in at lowish point on days price.

As far as i understand it may or may not be filled, i can cancel the order at ant time. Ive put in additional buys at days low on silver for 3k sterling too, plus another gold at a few points above days low

Will see if they get filled on monday i guess

Just learning the ropes. The most i hope to gain is so me knowledge of how it works and hoefully the price of a few lunches in beach tavernas as i sail around the med this year

In malleca now, prepping boat for le voyage......

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Your order request has been received. The details are as follows:

Security: Fine gold kilos in New York vault
Instruction: Buy 0.101kg @ GBP 33,090.00/kg
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