re: **getting a bit sick of gold
Subject re: getting a bit sick of gold Posted 15/07/05 02:25 - 52 reads Posted by jazzmox IP 144.137.xxx.xxx Post #114259 - in reply to msg. #114258
perhaps gold is manipulated by endless money that can go short it if it starts to break out.
Why hold something where the odds are against you. ====================================== Comment: When gold broke above US$440 I heard there was huge European Central Bank selling to settle the price.
However the signs of change are imminent - we will be having gold futures trading in Dubai, gold trading in China, all Chinese banks selling physical gold to the public.
"Welcome millions of Chinese to the international gold market. Goodbye COT!
This poster at http://ewcc.com/ChinaGoldRush_main.html is a promotional piece for an interesting documentary on the Chinese culture. However, as I see it the promotion represents an unintended prediction of what will occur within the next 18 months. Gold is an ancient tradition in Asia as the ultimate storehouse of wealth. The Chinese are the best risk takers and gutsiest speculators on the planet. Those two most admirable characteristics will meet on the floors of the new Chinese gold exchanges and at the windows of the Chinese banks that are now permitted to offer gold to the general populace.
This factor alone, free of all other fundamental or technical criteria, will produce a total reconstruction of the international cash and derivative gold market as well as the redundancy of the now egomaniacal COT characters of the COMEX."
