Gold will go up $50 this week
Beanie
price of gold $50 or more by this time next week.
If the Saudi Arabia's oppressed populace revolts, oil will go to $150/bbl and
gold easily will go past $1500.
Remember - you saw it here first!
Bremick
"Beanie" <b...@ea.ne> wrote in message news:ii41lq$dl8$1...@speranza.aioe.org...
> Turmoil in Egypt and the Middle East should be more than enough to raise
> the price of gold $50 or more by this time next week.
> If the Saudi Arabia's oppressed populace revolts, oil will go to $150/bbl
> and gold easily will go past $1500.
Then the profiteers will be selling their gold for dollars to pay for
gasoline and heating oil where maybe they should have invested their dollars
in the first place. ;>)
oly
Are you familiar with the concept of "Mr. Obvious" and "Faster than
the speed of stupid"???
Actually, it now seems that a large trader who held about 10% of COMEX
and other exchanges gold futures contracts spent a large portion of
the last month liquidation because his various hedges were no longer
working profitably for him. Supposedly the net position wasn't that
large, but the number of contracts liquidated was causing other
traders to worry about where all the selling was coming from. This was
announced last Thursday or Friday and contributed a great deal to the
Friday rally. The folks at "Zero Hedge" can explain it a lot better
than I can, should you care to google that website.
Neither Tunisia nor Egypt mean poopey to the U.S.A. Syria and Saudi
Arabia are more important, the first for political reasons and the
second because of the oil.
Gold itself is a political football, even the Federal Reserve and the
U.S. Treasury take their shots against it from time to time, and the
best thing is to not get too excited about the swings.
"Buy the dips" is one popular strategy. "Buy on a calm day when there
is no news and not a cloud in the sky" is another good strategy too.
oly
oly
P.S. A gallon of 87 grade gasoline touched $2.999 last night here in
the Patch. This was down from $3.279 two Thursdays ago. After
Friday's $3.00+ spike back to $89.00+, I don't suppose that that will
still be the price come Noon on Monday.
And to continue to talk about things that I really don't know shit
about, "How about that Baltic Dry Index???"!!!
oly
oly
>
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And to continue to talk even more about things I don't know poopey
about, "GO GREEN BAY PACKERS!!! GO GO GO!!!"
oly
"I tend to sympathize with the Underdogs, especially when they might
surprise everyone..."
Beanie
"oly" <oly...@aol.com> wrote in message
news:b603b166-db03-419e...@x11g2000yqc.googlegroups.com...
>"Buy the dips" is one popular strategy. "Buy on a calm day when there
is no news and not a cloud in the sky" is another good strategy too.
I buy a small amount of gold and silver every month thereby averaging out my
costs over the years.
I bullish on PMs because I feel that Obama and the Fed's monetary policy is
solely based on inflating the money supply and hoping for the best.
oly
> "oly" <oly2...@aol.com> wrote in message
I think that you're correct that the powers that be will choose to
inflate away a good portion of the public and private debts. This is
the politically expedient route as opposed to raising taxes and "means
testing" public social transfer payments.
OTOH, I don't think that the last year's M2 money supply figures
support the fact of rapid growth in monetary aggregates. But, one
should be wary of the government's own numbers.
oly
mazorj
oly
=====================
While you are correct that inflation is, and has been used as an easy cure
for debt, there is one important difference for the U.S. this time around.
Millions of Boomers are entering the "fixed retirement income" category.
For half a century they have been the tail that wagged the dog in commerce
and in government policy. Politicians already are more deathly afraid of
offending seniors than even the NRA, because they have the time and outrage
to be activists and voters. Pump this demographic up with millions of
incoming Boomers and it will take a lot of political guts to offend them by
inflating their fixed incomes into oblivion - even more courage than it
would have taken to stand up against the spending that got us there.
Not saying that it won't happen; but if it does, a lot of heads will roll on
Capitol Hill, where the campaign message will be "Support (or even just
allow) inflation at your own peril." Hell hath no fury like a PO'd senior
citizen.
Peter
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I'm unwilling, just now, to hazard any short term guess about gold.
About Egypt I think it matters a whole lot more than you seem to say.
It, with Jordan has been a major contibutor to what passes for
stability in the mideast. There is some possibility that like the
Iranian revolution in '79 rather that the generals taking charge, the
Islamists might.
As for the Baltic Dry Index, you can see some things about its
behaviour here:
http://www.investmenttools.com/futures/bdi_baltic_dry_index.htm
Broadly speaking, international trade and the index are correlated.
With the index near the lows the upward pressure on gold might seem
weak. I would not bet a lot on either side of that question. Even
so, I am the proud new owner of 2 golden riders from 1750.
Frank Galikanokus
Who would that be?
JAM
Beanie
"Frank Galikanokus" <"Frank Galikanokus"@nospam.net> wrote in message
news:4D45D3DA...@nospam.net...
Changing your email addy to circumvent kill-files again, eh?
oly
The average American subscribes to the theory "that a dollar is always
a dollar" and that's what allows the Fed, The Treasury and Congress to
do what they want to do.
I know lots of people on Social Security, and their plaintiff cry of
the last month has been "WE HAVEN'T GOT AN INCREASE IN OUR CHECK IN
THE LAST TWO YEARS"!!!
The thought that getting their same checks and having the general
price level decline is as alien to them as Joe Biden slipping up and
telling the truth about anything.
The Central Bank can run circles around America's Senior Citizens.
IMHO, the Seniors will not be out in the streets until they have lost
at least 75% or more of their purchasing power. Messrs Greenspan and
Bernanke have already put the Seniors through the ringer with their
"Zero Interest Rate Policy" and its affect on the Senior's bank
balances and income from bank "investments".
And there is no anger, no demonstration, no riot.
If Ben Benranke and his ilk want to devalue the dollar, they need not
consult Congress - they just need to mouth a few bullshittaes in
Congress' general direction and then do whatever they please.
oly
oly
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Those coins sound nice, congratulations on obtaining them.
Keeping Egypt in line and not at the brink of war is very important to
Israel, first and foremost. Same with Jordan. Of course, this
indirectly impacts America. I would say that the American jobs from
making all those weapons we have sold to Egypt is the most important
direct impact on the U.S.A., and Egypt mostly didn't pay for that
stuff - the American taxpayers did.
oly
Peter
Wouldn't you, as a citizen of a great trading nation, be interested in
maintaining continued access to the Suez canal. Loss of Egypt (and
perhaps consequentilally loss of Israel) to Islamists would make the
eastern Mediterranean fairly hostile to the West. Offhand, those
sound like big losses to me.
oly
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I believe that the Suez Canal is somewhat dated because ships over a
certain size can't get through one (or more?) of the 19th century rock
cuts. Perhaps modestly useful in peace time. I have been told that
the Panama Canal has similar size restrictions for different reasons
(the locks are too small and the bottoms of the lakes are silting in).
It's very kind of you to call the U.S.A. a trading nation, but we are
more of an importing nation that balances its books with paper
entries. Thus some of the power behind Gold's ten-year rise.
I wouldn't ever ever expect the "loss" of Israel without a general
nuclear exchange. The Aswan High Dam strikes me as one of the finest
targets in the world. Most of the residents of Alexandria would get a
free trip to Cyprus.
IMHO, Egypt is just a marginal concern for Americans.
oly
Peter
> IMHO, Egypt is just a marginal concern for Americans.
I disagree, but am fairly sure that neither of us can change what
happens very much. We will surely see what happens, and probably
within the next year or so.
Frank Galikanokus
ya, umm, sure, what ever you say.
JAM
oly
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Gotta say, I've went and read up on the Suez Canal overnight and as an
engineering achievement (both the 19th Century work and 20th Century
improvements) it does seem to be very neat and well-thought out.
oly