you guys want to seriously get into gold and silver to preserve what you've got, go here.....
this is a serious traders chat board....on gold, silver and the markets....just select the appropriate date.
good group of guys...mostly europeans, but several yanks, a few canadians and one or two asians. gives a very good conversation on what's really happening...from a perspective beyond the idiotic commentary of the US financial media.
kev....that situation with the currencies has already happened.....and been run around by the firms handling the trades. my firm simply called me up and asked me if I would like to continue my account with leverage as it....when i said yes, they said, well, we've got to move your account to our UK branch. I said okay, and .......two days later, bingo.
more interesting with the CTFC is the situation with the Comex....JPM essentially controls the price of gold and silver thru massive short possitions. currently they are short something like one third of the world's annual production. (yes, this is beyond insanely risky, and yes, if it goes south...it would probably be another "bad bet" the US taxpayer would pay for).....the situation is only slightly less bad in gold....
well ... for years now, under pressure from everyone else trying to trade gold and silver, the CTFC has conducted farcical "investigations" and concluded there is no manipulation of the markets. finally, now, the situation is so bad that they have been forced to hold hearings on the positions, and consider position limits. this is going to happen on 3/25....
they are between a rock and a hard place. if they institute position limits, JPM is screwed (ha...the US taxpayer will pick up another 100B in bad JPM positions going south. Jamie Dimon will still get a great bonus).....if they say there is "no manipulation"....well, they will essentially be endorsing blatant corruption of the Comex.
3/25....the metals world is waiting with baited breath for this one. all this "movement" of gold and silver, the trashing over the past couple weeks, is simply the big banks trying to position for it and get the metals down as far as they can to cover what they can before the big day.
the nice thing is, its all giving little guys a fabulous opportunity to move into physical gold and silver before the $##$%$@#%$#% hits the fan.
oh, i forgot one thing....its coming out in the rumor world that JPM doesn't have even a tenth of physical necessary to cover its shorts......the olde nightmare scenario.
anyway, it is all a great buying opportunity. gold gets anywhere between 1060-1080...its time to back up the old truck.
kev....i'd like to think we keep our retirement cash...but the government is now owned by the investment banks..........and they are calling the shots.
think of the patriot act and what they pushed thru in terms of controlling the population with that one in the name of "national security" and the emergency situation.
put it in context, and imagine how easy it will be....to call a bank holiday, devalue the dollar, and tell people not to worry as they can invest their retirement in treasuries and get a solid stream of income in retirement (forget that the dollar will have been devalued at that point and will be facing further devaluation as the years go by)....tell someone that they can get 2K per month as a "steady stream" and most the population will leap at the chance.....
and no one in the media will be allowed to tell them that 2k will be what it costs to buy a tank of heating oil......or a month's worth of food three years out.
we're working now with a population mesmerized by the mass media (who never lie, or no, or "omit" certain facts)......and handicapped by an abysmal level of economic knowledge.
Look at the guys here....most have no clue as to what's really going on....or simply refuse to believe there's any problem at all.
three things to know now...recent changes in banking regs....
--- money market managers can now refuse redemptions at their own discretion. yeah....so, push comes to shove, you may not be able to get your money out if the dollar takes a sudden nosedive.....if you want to keep your money in cash at a brokerage now, its probably smarter to use a foreign currency ETF and put it in Aussies or Canadian dollars.
--- Citibank changed the rules of its checking accounts two weeks ago. Now, at their discretion, they can demand that you submit any request for a withdrawal in writing....and wait seven days. sounds like they are getting ready for a run on their bank, eh?
-- and this one is a stunner. you know when the patriot act was first written, it allowed the government to open up your safe deposit box and confiscate any guns or drugs found within. when it was renewed last year, this clause was changed -- to include .....gold and silver. interesting, eh?
the middle class is resource to be mined. clearly, the government and the banks consider your assets their assets.........
we are going to have to work hard to protect what we have in the years just ahead.
i think that the situation with the IRas, 401(k)s may be what lights the fuse.
right now, Ben is selling 100-200B in bonds every two weeks (talk about putting the middle class in chains for the next three generations, who these bulls think is going to pay the interest due on this is a complete mystery. the reality is taxes will have to go to the moon to pay simply the interest on all this debt.........debt incurred SOLELY to pay off the banks derivatives!!!! fox is selling this as us going into the hole because of entitlements which is complete BS...since 2008, the banks have stolen (there is no other word) ONE POINT SEVEN Trillion dollars from the Treasury. Not a dime has gone into Social Security since 2000...NOT A DIME. Talk about screwing the little guy....alll that SS money has gone to paying for Bush's wars, and to pay off the investment banks......beyond obscenity....but Fox has all these right wingers convinced SS is the problem. sheer ignorance is destroying us....
well, now, even that isn't enough....so there's a proposal kicking around congress to mandate that people convert their IRAs and 401(k)s to annuities >>> all stocks sold, and all money invested in Treasuries......all to support the dollar.....
which is needed now because, those of us watching the auctions know, the Chinese and the Japanese are walkign away. Our auctions are failing.....the dollar is about a minute from tanking.....
so what better than to force the middle class into Treasuries....take their retirement savings, force them into treasuries, make them support the dollar for another year or two before -- numbers don't lie and there's no hope now, we've passed the point of no return mathematically -- the dollar loses over half its value as the Treasury has to start defaulting on debt.
and these guys here think that DDR is going to keep climbing.
i marvel at the power of the media to keep the average guy mesmerized and convinced that everything is "recovering".
nothing could be further from the truth. the truth is that anyone clued in is trying to get out now and as far away from our markets as possible. its terrifying. you have to wonder -- with foxtv fueling sheer hatred of obama -- if this country is going to be able to hold together.
frankly, i have my doubts. i expect we're going to see some serious violence in the not too distant future....once people really begin to grasp how badly they have been misled.
<Timing can be everything.
Sentiment : Sell>
Good god Dude - When are you going to realize - The cataclysmic scenario you have been spamming this MB about since this stock was $3 - $4 in Spring 2009 has been averted. And here you are still plugging away<LOL>. I really feel bad for you. Your shorts must have been obliterated. Oh Well; One day you'll realize what has occurred and moved on to greener pastures.
the germans just said they would like to consider the european central banks putting some gold behind the euro.
that's ain't gonna be happening here because that would inhibit Ben's 24/7 printing operation.
you guys thinkin' everything is a-okay are in for a very rude, harsh awakening in the not so far off golden furry future you imagine.