Daily Gold Chat

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Tuesday, October 17, 2017

Then why do price gaps occur?
(Au Gratin)
10/16/2017 - 15:31
10/17/2017 - 03:31

@KS

Orders do not have to be filled to move prices. A Million sell orders can be placed in the middle of the night when trading is thin.
Then a violent move down triggers stops which initiates a waterfall decline. We have witnessed this in the metals more than any other market. It is my belief that these orders are intended to move price.
A Million sell orders can be placed then cancelled in seconds to do the same thing.
These are not market forces at work. There is no balance here.

(Au Gratin)
(KS)
10/16/2017 - 07:51
10/17/2017 - 07:51

For every futures short position there is a long position. The futures "open interest" details the willing number of buyers and sellers at odds on a trade. Just saying.

Banning cash is not enough
(Au Gratin)
10/09/2017 - 16:14
10/17/2017 - 04:14

Jim Rickards said that it would make no sense to ban cash and leave gold and silver ownership legal.
I couldn't agree more! Without knowing all the reasons for our money going digital, one must assume there's a few reasons we aren't being told. How many dollars are in circulation outside of the USA?
If those dollars began to come home, how would that change the value of the dollar here? Perhaps that is already happening. Like a good poker player, I don't think the government is showing their hand. I also think they've got some cards up their sleeve. I think the effort to suppress gold and silver prices isn't just about some big short positions held by banks. I think it's about perception management. If cash is going to be banned, gold and silver ownership provides a way out. If the goal is to capture everyone inside the system with no way out, gold and silver are a problem. I could be wrong, but someone really, REALLY doesn't want gold and silver going up.

We need to wake up!
(chris-d)
09/30/2017 - 12:47
10/17/2017 - 12:47

If interest on savings accounts were at least 5%, equity prices would not be so inflated, and the economy would be a lot stronger. If savings accounts were earning 5%, many investors would not be buying risky stocks paying dividends of about 2%, thus removing some yield hunters from the market and reducing pressures on ever climbing share prices. The Federal Reserve Bank has the power to set the interest rates on savings accounts and it should use that power. People should save more instead of borrowing more.

The economy is significantly weaker than what most economists believe. The question is, what is the right monetary policy that will change that? Will increasing interest rates on savings create a more robust economy? Yes, it will, because use those savings instead of borrowing. High asset prices driven by low interest rates have a negative effect on the Main Street economy?

Freeze the interest rates paid to holders of existing federal and all other government debt to 1% or the rate of inflation, whichever is less, so the US, state and local governments would not be forced to pay damaging rates to finance the existing debt.

GOLDMAN SACHS and other like kind entities should not be allowed to be the symbol (control) of a government that favors Wall Street over Main Street. As a candidate, Trump said that Hillary was in the firm’s pockets. It was Goldman Sachs that Trump singled out when he railed against a system rigged in favor of the global elite, the very one that have robbed our working class, stripped our country of its wealth, and put money into the pockets of a handful of large corporate and political entities. Cohn, was president and chief operating officer of Goldman Sachs, and now is director of the National Economic Council and chief economic adviser to Trump, still is, was at the heart of it all, but is now working under a different roof. In the past, Cohn turned Goldman’s home loan unit into one of the largest mortgage trading desks and indirectly is doing it again. In the past, he aggressively pushed his sales team to sell mortgage-backed securities to stupid investors even as he watched over “the big short,” Goldman’s decision to bet billions of dollars that the market would collapse. All of this will soon happen again, but with a different twist. This time we not only have mortgaged backed securities getting shorted, but so will debt backed corporate securities. We are going to have a very interesting 2018 and beyond as all of this debt shit hits the fan. The Fed is sleep walking right into it and outright supporting it. Stupid is as stupid does. And we the people are supposed to solute these gangsters who violate our Constitution and our way of life, so they can screw us in every which way there is. Without honest money we have nothing. Debt is not money. Let those holding it, eat it. The septic tank is where all of this debt belongs that is not being used as currency.

Platinum And Palladium Predicting Stock Market Crash...?
(Vronsky)
09/26/2017 - 11:51
10/17/2017 - 11:51

In 2000 and again in 2007 the price action of PLATINUM AND PALLADIUM precisely predicted the subsequent crashes in Wall Street stocks. Fast forward to today, and again we see PLATINUM AND PALLADIUM intimating that US stocks may well be topping out as I speak. For this reason I will be doing substantial research to see if there are other factors which support a Stock Market Crash Forecast. And rest assured if US stocks crash, bear markets in stocks worldwide will follow in Wall Street's decline.

The only factor that is very difficult to determine is how the North Korean turmoil will evolve...as it is run by a wild gadfly whose actions may well have an effect on stocks worldwide.

Bitcoin
(chris-d)
09/20/2017 - 23:23
10/17/2017 - 11:23

Is Bitcoin a "Ponzi" scheme? If it is so is the US$, and so is the stock market elevated by vast gobs of QE. So is Jamie Dimon's creepy bank stacked full of falsely valued derivatives that had to be rescued by the government and will be again soon. Our entire financial system as corrupt and rotten to the core. Banks lend thin air credit created out of thin air and lend it out as money. A $100,000 house loan cost on average of $5,000 and the borrower has to pay back $100,000 plus interest. Talk about a royal screw. The truth is that this so called Bitcoin is basically a new new technology in creating cash, backed by secure data. It's about an irrefutable database than can and WILL be used by banks, cloud users to store any data and transactions that need to be covered by the Triad of Confidentiality, Integrity and Availability, or a means for banksters to track every transaction. To me that tracking every transaction is what is coming. The best concentration camp money the banks can buy.

What really gets me is why is Jamie Dimon's creepy bank so heavily invested indirectly in Bitcoin in order to hide transactions of debt. These hidden debt transactions to me are equivalent to borrowing and lending in the cash market to hide debt. It's a means to hide debt that is not shown on the balance sheet and thus remains off the books. It's the same thing what Goldman Sachs did with Greek debt in order to join the EU common market. Debt is booked as a notional derivative or Bitcoin, even though it is in effect a secured loan with principal to be repaid in full at maturity. Bitcoin will hit $25,000 before it hits $0. In the mean time it will go up and down. Soon there will be 1000's of Bitcoins, but with a different name.

There is a difference between currency and money
(chris-d)
09/18/2017 - 13:36
10/17/2017 - 01:36

What we are witnessing now is credit fueled misallocations of capital into the FAMG stocks. Most those FAMG entities will become surveillance states of the future. What we are now witnessing is the epic growth of US concentration camps (surveillance entities). Right now, there is one stock gowing up for every 20+ going down, and yet market indexes are going up. In other words the 20 some are getting sold off in order to pile into the one going up, which is the cause of our economic slump on Main Street. Recessions don’t come out of thin air, they are created from thin air credit, that is being lend out as if it was money. We don't have any money that backs itself, we have a currency of thin air credit that has to be paid back as if it was money. That money from here on out will devalue over time, just like it has in the last 100 years. Industrial metal rounds is the future vehicle for savings. Bitcoin is a currency just like the US$ and used as a means of moving assets from one thing or place to another thing or place. North Korea was able to buy rocket engines from Ukraine by using Bitcoin, which enabled North Korea to fire off rockets from Ukraine that they could not built by themselves. Bitcoin unlike the US$ can not be created from thin air, nor is it being lend out as money. Bitcoin is simply a currency to move from one asset to another. Soon there will be many different forms of Bitcoin currencies that will compete with Bitcoin, but Bitcoin has international recognition that the others lack.

The $20 trillion+ current US debt will double twice to $80 trillion by 2032. Today the US$ d is weaker because less people are using it. The US dollar is weaker because the Treasury/Federal Reserve balance sheets look like they are ever more junk bond status. In reality is that the weak dollar itself (and poor financials of the issuer) that has prompted the rest of the world to seek a new reserve currency GOLD. They are tired of seeing their “savings” in dollars depreciate AND don’t fancy playing the game of “never getting paid!"
Dollars are IOU's are only promise to pay more dollars (IOU's) and “settlement” is never really made. With gold, settlement is made because it is no one else’s liability. This is just one more difference between a “currency” and “money.” The traders of debt do not want the public to understand that.

On this site we need individuals who are good at stock picks. I am not, but the following is what I hold and it has been working. Feel free to take me apart.

ARCTF ATUSF EXCFF FNV GBTC GLBXF GLVMF GPL NSRPF SAND SEMFF SMDZF and I added SBGL today. Today is not a god day, but on average I have one down day fro every 4 up days. But everything I wrote above will do anyone any good if you don't save your profits in a metal currency. I kind of cheat by using FNV because I find FNV to be very liquid.

Chris-d....
(Brett Star)
09/18/2017 - 10:17
10/17/2017 - 10:17

Bitcoin makes me squeamish.....$25,000? I did read that article. The odd thing about Bitcoin is that it has value in dollars....perhaps a better indication of inflation than gold. Other than maligning the value of Bitcoin, the players seem to believe it is safe from the Wall Street crowd....which I say give them some time, there isn't a future in anything Wall Street has not mastered.
...which brings me to gold....350,000 contracts sold short...having a decisive effect, retreating to 1319.....and if our fearless leaders decided to make it against the law to borrow money to go to war, there would be no war.... Then what would we do...as the rest of the world follows us into the abyss...

Omnipotence has its' failings KS
(Brett Star)
09/18/2017 - 08:53
10/17/2017 - 08:53

But it's sure nice to see you...
How many can be so wrong for how long?

Perhaps 30 minutes......maybe less.

Swindling futurity is what we do and stand for.
(chris-d)
09/17/2017 - 19:09
10/17/2017 - 07:09

"The principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale." Thomas Jefferson.

Most western countries, especially the USA suffer from a cancerous monetary blight on their butts of so called democratic capitalism that is in no way democratic. It used to be that when another country refused to take dollars it could expect regime change in short order. But that is changing. Now there are alternatives to the US$. The people in Mexico are ever more using and promoting Mexican silver coins as a savings tool. If given a choice between cash or gold, Indian people will opt for gold not just as a means for a way to store savings but now they are even doing it as a means of underground payment system in gold rounds measured by weight. Ever since the Indian government took away their ability to use cash in large denominated notes, the people had to find another way. It won't be long now where every community will have their own digital currency. Bitcoin will reach $25,000 before $0. This coming week, gold will most likely get hit by the FED banksters, but next week the gold train will most likely hit higher levels as ever more countries refuse to accept ever more US$'s as a means of payment.

Tuesday, October 17, 2017

In 1934 President Franklin Delano Roosevelt devalued the dollar by raising the price of gold to $35 per ounce.