Hi Slange,
Skol isn't influencing me, Ive been on here just as long as him with my views. I enjoy his views, some of the information he and other posters have put forward has been helpful in confirming my view which I assess from time to time. There are trades to the upside from time to time, but overall my view hasn't changed for years, Gold price was pumped up by the use of ETFs and Hedge Funds using leverage as the sellers of Gold whipped up the constant fear of total depression and collapse. All of these sales pitches have been proven wrong thanks to the fullness of time and she will continue to make her way lower imo.
I enjoy Skols and a number of other posters input to the forum and on the analysis of the tradable asset, infact they have brought me much laughter from time to time. I recognise some people don't care about the fundamentals and use charts, they have also been interesting, and from time to time they have got the trades, Doomsday Monkeys however are my interest, so too is exposing on this site some of the BS and insane prediction made by people and corporations in the media to do nothing more imo than to sell expensive gold coins in the hope that they somehow will become valuable (they are valued in fiat terms) when the KAOS arrives.
The Middle east has been frighting and blowing themselves up, throwing rocks at authorities, arguing about Palestine , terrorists since I first remember watching the news in the mid 1970's, nothing has changed other than the reporting and some of the methods.............
If you think the government is moving to control everything that moves or doesn't move, then Gold will offer you no protection, no wealth protection, that idea imo is totally flawed
Global prices of commodities are falling, I agree, but not for the reasons that are now being promoted by the doomsday monkey Gold sales media....................IMO it is coming down because the excess supply that no one wanted was put into ETF's reclassified as "investment demand 'and pumped by leverage. The big push from 958 to the high was imo nothing more than a Paulson and Greenspan carefully delivered salaes pitch, fuelled then by lots of shiffs that wanted to look good and who claimed they called every dip crash and pullback in the past but who has almost no money under investment compared to their peirs and whos returns are rubbish,,,,,,,,,,,,,,,,,,people don't look at that they just say,,ohh look he is on TV, he must be right, ..........Price was pumped by ETF leverage, widespread media attention in a time of crisis and hedge funds.
Many of these hedgefunds are traders, they got in between the producer and the end users and pumped the prices of everything, they are now deleveraging as they got no returns for most clients really, and prices are falling, this is good for consumers.......................................
Ive heard all about hyper inflation
QE and how the world will end, markets will crash
The new theme of PAPER gold
Heard about manipulation, corruption blah blah blah
How somehow the cost of production will be a base, how mines going out of production will increase the price, yada yada
HEard about manipulation and how gold in physical terms will save you in a banking crisis, all of which are proven wrong , Cyprus Greece perfect examples
Depressions have been called many times since 2007/8 and linked with a reason to buy gold
The fear is over, the unknowns have been removed, its business as usual, banking system is functioning, you can buy puts if you think markets are going to fall, they have no huge imbedded middle man margins and you can sell them and get paid.
Golds time for a monster trade has come and gone and as the he stockpiles of "investment" gold and commodities in the forms of ETFs all over the globe unwind, the price will as well as those needing a hedge that chose gold have more stock available to chose from.
Gold is everywhere, commex isn't the only place on earth, shessh you can even buy it on EBAY, gold imo will continue its trend lower.
The amazing flaw in many of the arguments here is that its wealth protection and how they will be wealthly when the sHHHHeet hits the fan, but they forecast their wealth by valuing the asset they hold in FIAT terms, something they say is doomed......................
They precit depression 2.0, financial and social destruction and somehow think having a few Gold coins and bars stacked away will save them, biggest dumbest idea Ive ever heard,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,
IF IF IF the world collpases into KAOS and ruin, if a doomsday money comes up to me in such a situation and says, look, I would like to buy one of your guns and your car, and some of your food, Ill offer you 1Gram of Gold and 6 of Silver as that is worth probably 15000000 in all this Kaos its a good deal,,,,
I would reply, no worrrrries Doomsday Monkey, Here have a bullet for Free,,,BANG
Gold is used as a hedge, its traded by speculators and sold by many vendors who all preduct doom and suggest its the best for of wealth protection,,,,,,,,,,This scam will never stop, but imo the price will just fall, the big trade of our generation has come and gone, hopefully you got some.....
