willie's latest - 31/10/12, page-17

Hi Dub and all,

I do think Jim Willie makes good sense when he talks about Gold unfortunately some of his more wild accusations leave him open to ridicule; however, sifting through and separating the dross overall I agree with his prediction for the Gold price and reasons for it.

Jim said: (Caused me to smile also.)

“The Gold bull market is entering an important second gear after a long year of consolidation. The feckless idiots who claim the Gold Bull is done seem the most ignorant in the financial classroom, the dumbest and most deficient in mental processes."

I said in a previous post to our resident bear the following.

“My thoughts and prayers are with those suffering in any way and that includes those with diminished ability for simple understanding or reasoned cognizance!”

In this instance at least Jim makes me sound downright eloquent!

Biggles,

No I was not really suggesting that the food recipients do real physical damage I was laughing at how you could turn a natural disaster in to a positive for the economy. My apologies for assuming you had a greater understanding of English comprehension. More fool me for making assumptions.

Have a look at the charts Dub has put up in his post and see how the blue red line cross over indicates a reasonable chance of Gold rising once the US election is over. The technical term is the “Golden Cross” or the “Bull Cross.” However, red line blue line should keep it simple irrespective of one’s personal level of cognizance!

My personal Gold thoughts are that the price will be held around these ($1,725.00) levels until after the election and then after the usual pre FOMC meeting (11th December) price kicking we will be off to the races and on our way to the next target of $2,000.00.

The news item about Germany’s stored Gold is interesting, I believe if one is going to hold Gold it should be held in your own possession! Maybe the British, French and Americans are fine upstanding never tell a lie, altruistic kind of people but if there is no particular reason to have to trust them I see little if any gain in doing so. Also in these times of high unemployment at least if the Gold was stored in a German vault a few local security people could be employed.

I know holding my own Gold outside of the traditional banking system leads me to believe: “There’s something reassuring about physical money.”

Cheers one and all and very best regards: Andy

Credit for the link is to Mr. Matthew Lynn:

http://www.marketwatch.com/story/why-do-the-germans-want-their-gold-back-2012-10-31?link=MW_popular

Why do the Germans want their gold back?

Commentary: There’s something reassuring about physical money