Look at the difference in silver. Physical silver is selling for a $5 premium per ounce to paper spot at APMEX. Physical gold the last I checked was about $80 over paper spot. I think silver may be shaping up to be the better buy.
I thought so too but that's not it. It's coming out of Asia and there are rumors floating that Japan is on the verge of economic collapse. Look at the yen, the Nikkei, and the Japanese long bonds, all are tanking. My guess is they are liquidating all commodities that are yen denomiinated to get their money out now. It should be bullish for US equities if we end up being the safe haven. I think this is as good a place as any to start averaging into gold and better yet silver but buy physical as their prices are no longer dropping like the paper is.
A former partner of George Soros has liquidated everything he had in Japan and said it's just a matter of time now before it collapses. The Nikkei is down the most since the BOJ began easing, the yen is down 1.36 pushing the dollar higher, and they're dumping Japanese bonds like crazy. US futures are tanking and all commodities are getting hammered. I'm glad I got out of everything last week because if Japan goes there's no telling what's going to happen here. My guess is this is what was driving our equities higher the past few weeks in the face of all the bad economic data, they were front running Japans economic demise.
Before Abe started devaluing the yen their banks who I believe are in big trouble were tipped off before hand and they loaded up on paper commodities especially gold and silver at Y80 and now after Bernanke warned them to stop the currency war those same banks are liquidating their long positions at Y98+. If you look the yen is dropping again at the same time gold and silver have been selling off which indicaters the easy money is coming to a end and they are taking profit. Once they sell the commodities they are using the proceeds to buy US equities which I believe is why Bernanke made the warning. He is afraid all this money coming in from Japan will create a even bigger asset bubble. I guess this is what happens in a currency war. If I'm right all this money being taken from gold and silver tonight will go into the US equities markets in the AM and it should see another huge up day.
I hope you're right because I will be a buyer but since the cost to get it out of the ground is $1260 a ounce I doubt it. It will probably bottom around Goldmans target of $1450 and after they get Cypus' gold they will run it back up. Something is going on with gold and silver because they're getting hammered again tonight. Watch what physical sells for in relation to paper gold and silver because physical isn't dropping near as much as paper is.
Physical gold is now selling for about $80 over spot at APMEX but physical silver is selling for a whopping $5 per ounce over spot. Silver may be the better trade than gold right now.
Hey cheyn, please tell us how we're going to pay off a $17T debt while we're adding $1T+ to that debt every year with Social Security and Medicare going broke? There are only 2 ways out of this mess, 1. file a national BK (not going to happen) or, 2. Inflate the dollar so much $20T becomes insignificant. Either way it's bullish for gold long term. We are at the top of this bull market and it will end soon.
There will always be a currency to trade your gold for that you can use to buy what you need. I expect there to be a currncy like the Bitcoin that will emerge that's pegged to gold before long. That beat down in was a fraud to steal that Cyprus gold, look what it's doing now up $14 in a hour.
Just buy all the gold you can get your hands on. we will eventually have to do what Japan did and the world knows it which is why they are dropping the dollar as reserve currency. Even Australia dumped us for the Chinese Rinimbi. Just look what gold did against the Japanese yen in the last month and you'll see what will happen here eventually.
Nope I'm keeping it and leaving it to my kids, the estate taxes are based on the $50 nominal value of the coin not the gold price. You only made 85 grand in this market? What are you a pauper or something? I've made and lost $85K in a single trade.
I don't know if you would have bought it when I recommended it at $1100 you would still be up 40% in a few years.
He called his fellow lap doggers out for ignoring what could be the story of the century. another lib journo cals Gossnel, "probably the most prolific serial killer in history". In a related story Planned Parenthood fears a backlash if the Gossnel story becomes widely reported. When Roe Vs Wade was passed it was only supposed to be for first trimester abourtions not 3rd trimester. This will end up in the SCOTUS because his lawyers will argue these were abortions and the court will be forced to put limits on it.
between 1650.00 and 1900.00. If they were net buyers at those prices why wouldn't you be at 1500.00?
Considering the cost to get it out of the ground is about 1260.00 I doubt $1K is in the cards but if it does that's great because I will buy everything I can get. Those $1T annual deficits and $17T debt is still going to be around for eternity and interest rates to service that debt won't stay at 1% forever. I think todays takedown was due to the sale of that 13 tonnes of gold Cyprus sold and it was probably priced at todays gold closing price. Someone drove it down to get that 13 tonnes a lot cheaper. Someone saved $303M today and created a once in a lifetime buying op.
They say this trial is the #1 searched story online and the local Philly press is starting to turn on the national lib media for not covering it. There are also photos of the empty press seats that have been reserved for the journalists who aren't covering the trial that are going viral. This is just one more nail in the lap dog medias coffin.
How could you lose anything in this market? Just go long GOOG, PCLN, NFLX, AMZN, BWW, WFM, and PNRA and you should be green every day.