Well I'm better off than people living in Thailand and saving in USD, Euro or GBP.Originally Posted by OhOh
Well I'm better off than people living in Thailand and saving in USD, Euro or GBP.Originally Posted by OhOh
OhOh is a gold owner.
Don't be flustered by this central bank induced sell-off my friend. Buy buy buy...
The bear action in the paper price will likely last another 6 months to a year. But we do not own physical to capture action in the paper price. We own it for the real price. The real value.
You know what I do for a living mate. It takes a bit more than a little gold price fluc to spook me. I hope they keep manipulating the gold price artificially low, coz I'm fully with you. It's still a buy. So is silver. Safer than keeping savings in any currency especially in these times, imo. And yeah it's gotta be physical for me all the way. There's no way of knowing if index gold paper is actually backed up. I pay a premium to be able to hold the stuff in my hand.Originally Posted by socal
doup;le posta
Ah, Unfortunately the gold I was carrying, over the hill and far away, got mislaidOriginally Posted by socal
Never mind. At today's prices one would be a fool not to buy more and be more careful when crossing rivers!
you have been saying that shit for over 2 years now, it's not going to happen, you are delusional, and you are buying a losing value asset. It's down 50% already, dump that shit before it loses 75% and then buy back.Originally Posted by socal
I bet you 2 big changs it won't be that low in 6 monthsOriginally Posted by Butterfly
2 changs ? who do you think I am ? socal ?
that's not a real bet, more like bargirls bets
how about this, we do a Swap, we use 1000 USD as the benchmark, and in 6 months, one of the us pay the difference to the other ?
if it's 500 USD, you pay me 500 USD, if it's 1200 USD, I pay 200 USD or whatever the amount above the 1000 benchmark. Likewise, whatever amount is below the 1000 USD benchmark, you pay me the difference ?
I will go to the ISDA website and get the draft agreement for that SWAP, how about that ?
Since your comeback you've made me nervous Butterfly. Yesterday I was convinced gold was a good buy. Now I'm not sure. Oh dear, what to do?
That's just back tracking. You called 500 in a few months. Lets bet $1K USD. $500 or less you win. $500.01 or more I win. 6 months.Originally Posted by Butterfly
Love Butters moving the goal posts from $500 to $1000. Typical.
Goldman Sachs has lowered its gold price projections and says the metal is headed to $1,200. Credit Suisse and UBS are bearish. Citigroup says the gold bull market is over.
So I guess it's time to pack it in, right?
Not so fast. As we've written before, these types of analysts have been consistently wrong about gold throughout this bull cycle. Another reason to disagree, however, is history; we've seen this movie before. In the middle of one of the greatest gold bull markets in modern history – the one that culminated in the 1980 peak – gold experienced a 20-month, one-way decline. Every time it seemed to stabilize, the bottom would fall out again. From December 30, 1974 to August 25, 1976, gold fell a whopping 47%.
1976 had to be a tough year for gold investors. The price had already been declining for a year – and it just kept on sinking. Since that's similar to what we're experiencing today, I wondered, What were the pundits were saying then?
You were wrong all along as the price rose, you think you are right now that the price has fallen ? Who bought the top anyway ?
Yes BF, I am accumulating. Unlike you, I know gold is going higher.
Oh and what are you buying again ? US treasuries ? Oh yeah, you have no savings , so you are buying nothing 5555
The big questions are 'is it going to go lower before then'? When to buy?Originally Posted by socal
So central banks are peasants now ? You know.... the people who have their faces printed on the money you carry around ?
Amid Record Demand in 2012, Central Banks Scramble to Buy Gold
Gold Rout for Central Banks Buying Most Since 1964: Commodities ...
www.bloomberg.com/.../gold-rout-for-central-banks-buying-most-since-...
Apr 25, 2013 - Central banks owned 31,671 tons at the end of 2012, about 19 percent of all the metal ever mined, the London-based World Gold Council .
If it goes anywhere near $1000 or under, the physical market will seize up anyway.
So you have to buy now if you want any. You can afford to have some unrealized losses on your big positions. Are you day trading or are you trying to secure your capital for the medium to long term ?
Central Banks are terrible market timers, many of them sold Gold at their lowest point, so it's safe to assume they are buying at the highest pointOriginally Posted by socal
regardless, Gold and Central Banks have a long history, so it's not fair to draw conclusions when they commingle
Yes, for sure.Originally Posted by socal
typical hustler technique, finding a way to optimize a bet without taking any real risks
it would be naive to think that the exact 500 number is achievable within 6 months, I will be happy with 520 or even 550 as a benchmark. For you in your typical amateurish gangster style, it needs to be 500 or 500.01
jesus christ, betting with Changs, what kind of total amateur are you ? oh, don't answer that
let's do a real bet, that is a SWAP, not some stupid beer changs or some penny change bets
Ah but the problem with your conclusion is that if what you are saying is right (gold is useless, has no real use ect) then it shouldn't be worth anything at all.
Funny how people will try and argue that the most marketable good in the universe isn't worth anything.
Can you name anything in the world that is more marketable then gold ?
I didn't say it was worthless, I said it was speculative and overvalued. Making 50% loss on your investment assets raise serious questions about the validity of your valuation model for Gold.Originally Posted by socal
Didn't you buy more at 1400 USD a few months ago ? see where we are now. Most commodities are entering their 30 years down cycle now, it's going to be brutal.
First off, I have not lost anything close to 50% on my gold holdings.
Second, I can prove to you that the price we see on gold is as manipulated as a G10 currency. Anyone buying for the long term knows that they have to put up with government intervention in the market.
I bought for 1400, yes. Even a fucking day trader knows that 1400 to like.... 1300 is nothing.
That's what idiots like you said in 2008. 30 year "down cycle" It didn't last 30 months.
Butterfly is predicting a 30 year bull market in the US dollar when the bonds that back the USD have been in a 33 year bull market. This bubble was born before I was...
The most dangerous bubble of all
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