Total lack of transparency in the US and London Metals markets cause you to believe the worst, regardless of what is true. This is the main issue and is why Asia will dominate the market in the future and true price discovery will eventually take place. London especially is bogged down with old concepts and will be left in the dust bin of history - which is where they belong other than prison.
Great to see some positive action today.
Some of the most credible Chartist (Bo Polony - Charles Nenner) are calling for $2,000 gold by the end of 2014. Well, we have 4 months to see that happen. Most other Bulls have remained bullish be are hedging relative to when a move will happen. It takes courage to come out with some of the predictions we are seeing now and credibility is definitely on the line for some of these guys. I like Nenner as he always looks like he just got out of bed (the Einstein look- I don't give a s--- what I look like as I have been thinking and working on something important!). You gotta love this just from an entertainment standpoint. Good luck to all longs.
The shorts only have my sympathy for being stupid - dictionary definition of "stupid" is behavior leading to one's own destruction. - Nothing personal.
All aspects of pretty much every market are manipulated. Precious metals most of all. The Gov needs to protect the dollar at all costs. In reality you cannot win. If the metals do one day reach their true value, then the value of all you dollar denominated assets will be crushed. All you can hope for is to protect the amount of assets you put into the metals. Sorry situation to say the least, but better than having nothing when the eventual reset arrives
The miners have been beaten for so long that there is basically nobody left to sell. Today is moderate to light volume but a nice up day. On 9/26/2014 the Shanghai Gold Exchange opens that only settles in Physical Gold. Maybe that is a positive step to finding the true price of gold and taking the pricing power away from the Paper hangers at the Comex and Bullion Banks. If gold starts to move up you will see the miners really step out and EGO will be among the leaders for sure. Do not give up or be discouraged, that will bother the manipulators the most. Exert your true power in the market. Just do not sell - especially any physical as the day may come when you will want/need it and may not be able to find any.
No Way. That would make way to much sense. Gold will be MonkeyHammered again unless the Chinese want to teach us a lesson and jump in to make a large purchase. One thing you need to learn in the gold market is that news that should be Highly Positive for Gold NEVER IS. Why?? Bullion Banks using Naked Shorts and HFT Algos on behalf of the Fed and the Treasury to prop up the dollar (dead Man walking) for as long as the mindless manipulated public continues to buy the story.
I would love for Yellen to say anything hawkish at all just to see how big the Stock sell off would be.
At least enjoy the entertainment value of all this if you can.
Powers to be can not let Janet be embarrassed by a rising gold price when she flaps her jaws. Next couple days could be ugly. Put a sock in it Janet baby. Rates will never rise in our lifetimes.
In reality there are no real markets for gold and especially now Silver. It is just an open Field Day for corruption and manipulation. The Regulators are bought and paid for and the banks are approved to steal your money on a daily basis. Just another reflection of the world we live in today. Governments world wide are totally corrupt. This is the real reason that local police are armed like the military. Officials know that sooner or later the populace will rise up and the newly equipped military police must be prepared to protect them. It is truly a sad world we live in.
If the manipulation of the gold price ever ends, it could be a lot more than that. But don't count on the CFTC to ever do its job. Their miserable behinds are owned by the Banks, the Fed, and Treasury. You need to have endurance and conviction in your beliefs to own the miners or physical as there are many forces against you. They will lose in the end, but there is no way to tell when that will happen. Are you prepared to stay invested for years? If not then sell now and look for other ways to make $$ short term. Gold is insurance against devastation caused by inflation and currency collapse. Just don't kid yourself.
Any one have thoughts on how this could affect the price of Silver? It has acted very strangely this week. Hard to get much info on this or potential impact. Thoughts welcome. That is what a discussion board is all about.
Remember it was in the mid $50's during 2011 when gold peaked. Company is much better managed now and the market appreciates the dividend. Odds are good we will appreciate in the year ahead. Keep an eye on Silver as the "new" fix apparatus goes into action this Friday I think. No telling what will happen then but Silver is acting as though it is being held down this week - I know, nothing new there but the action still seems strange to me this week. Good luck to all rational speculators.
Mine certainly are. Silver is a steal at these prices. The only question is what will our currency look like when I sell. This should be part of a larger diversified metals portfolio. Very tough to trade or speculate in due to the manipulative nature of the metals market. I just think we are in a wave higher. Time will tell. Place your bets.
Historically financing WAR has been the reason that asset backed currencies have been debased. When you look around the world, there is no shortage of War right now. The US has been involved in war on a way too regular basis since Viet Nam which was the event along with LBJ's Great Society that caused the origins of the debasement of the dollar after France kept asking for the gold that they were entitled to by holding dollars at that time. War is responsible for at least 50% oft he $17.5 Trillion of debt we have. The financial situation of the US is so incredibly bad that the only things holding it together are new financial instruments such as derivatives, outright debt monetization by the Fed, and outright fear by the rest of the world of the results of the collapse of the dollar. Also let's not forget manipulation of metals prices again via derivatives. The currency is in decline- this is not in question. What YOU will do about it is.
Do you think current shareholders would get shares of the new company if this happens? We now own the Chinese assets as far as I can tell. Interesting development but not sure what it means for current holders.
Who knows if the nums are real (the gov. tends to make stuff up and then revise later when nobody is paying attention - they even admit in the announcement that the June numbers were an estimate) but a decent 2nd quarter GDP points toward higher rates sooner rather than later and FNFG's stock should like that. We need normalized rates of return for capital but I fear that the economies of the world cannot handle them - not to mention the US deficit. But in the end the market will dictate rates. The biggest fear I have is that the Interest Rate Swaps that are out there (many of them are used to hold down rates) will come under severe stress if rates rise and cause another large scale, world wide goat roping. All in all I remain bullish and like the dividend in the mean time. Or you can get next to zero for a 5 year CD.
I am not a trader. In for the long haul. It is close to impossible to trade against the manipulators. They have the big guns. I am unleveraged and have the conviction and time to wait it out. Forget the battles, focus on the war.
My post this AM was based on the poor housing start numbers plus the general pathetic state of the economy regardless of the deeply massaged numbers that the administration continues to trot out. I was not aware of the plane tragedy at that time and not sure it had occurred yet. I continue to believe that gold is the place to be.
And we are now at 50% of previous dividend. Great job by Immelt and the board at GE.
Do their salaries reflect this performance. What a cruel joke that is. The US is run for the benefit of big business and the banks. We get the crumbs if we are lucky.