2011 GOLD high $1,500.00, SILVER high $24.00

Hello All,
Say what you will about our missing member, but it was nice getting finger on the pluse PM reporting. Is that happening in any other threads? If so please link me. Krispy didn't you have a constant PM thread going? If you still do please put up a link for it.

Thanks,
Steve

 

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@ Steve: I did post daily, and by the moment, in Elaine's other two threads for the past year, one about silver reaching $20 and another for gold at $1350. Once those hit their target price the threads were no longer necessary and for Elaine, she felt those threads were not even necessary BEFORE they reached those points. She abandoned both threads, started this one, and has now disappeared from this one. My entire point for posting to any of her speculative threads was to demonstrate the nonsense of fixating on certain PM target prices, which in her case, she posited would happen in the above two target prices by the end of 2009 in threads begun in September 2009, but which took 12 and 13 months to be realised. Who knows how long this threads target prices may take... silver did it in no time, gold is struggling and Elaine is nowhere to be seen on CT for the past two weeks. Maybe something else is going on in her life, and she does disappear at times, usually times when PMs correct or dip, like they have recently. While I can follow and post about all the little intraday moves, I won't be maintaining any such threads again. It was only my purpose to show how skewed Elaine's posting about them was and how far off speculative price prediction really tends to be.

 

Thats interesting, I had no idea so much history was involved but i did take notice of your mention that she kind of spoke of Americans indifferently and followed the links you provided back to where she made such statements, however I thought as long as she was posting spot prices almost hourly, and including futures as well I would let it slide. Im not interested in targets if thats what you say she was posting, I thought it was spot.

Thanks,
Steve

 

Yes, she was asking people to play a little guessing game to guess where spot price would be at a particular point in the future, like at the end of the year. The problem with her posts typically is that she only posts on days when the price of PMs are rising, hitting record price levels or when she can post a link to an article that suggests PMs will skyrocket to huge price points in a short period of a year or two. Her posts can be very misleading for others who may be swept up in her biased excitement and theres little to no proof that she's even a buyer/investor of PMs.

 

It was a market correction from the downward movement of recent profit taking. Nothing I can see indicates downward pressure except that. Add the latest Terrorist threat and election in the US and PM's are looking good. Very likelt to see $1380 Gold this week and $25 Silver. IMHO

 

dang, sounds I missed my buy-in opportunity for good.

 

Well well well....metals doing pretty well this morning. Do we have an animated tumble weed icon? Cause that's what's going on in this thread...

=)

 

HAHAHA that's great!!!

 

Well, evidently the rest of the world viewed our elections as a continuance of the Depression, possibly a double dip much deeper with so many conservatives now elected ? PMs take off when the money goes into panic modes. I believe the world's bankers think there will be a return to the situation that largely created the current economic situation. I know many here felt that the prices would start a downward drift if many liberals were unseated, however, the world doesn't seem to concur. IMHO

 

I personally hope the rest of the world thinks just that gary. I don't mind my pm's being worth more and more every day. If we can believe what to be speaker Boehner is going to do. Cut taxes and deep cuts in spending and make the atmosphere more appealing to small businesses we can get out of this like Reagan did.

So I'm fine with others pumping the price of pm's up...it just means I'll have more money to spend in the future...I just hope they can stop the coming inflation...

I was watching the Glenn Beck show yesturday and he said that the amount of Dollars floating around in the U.S. and the world equal about $800 billion. With all the printing and future printing that is coming from that 600 billion bernanke said yesturday with the option or an additional 200+ billion the amount of dollars floating around are going to be around 2,500 Billion or 2.5 trillion...

can anyone verify this? and where would one look for it?

With due respect I hope Glenn Beck is completely wrong on this...cause if he's right...that means the FED is basically flushing the dollar down the toilet...

 

The U.S. Department of Treasury - Bureau of Printing & Engraving (B.E.P.):

Annual Production Figures & Monthly Production Figures

Federal Reserve.gov

 

The "unexpected" applications for UE has gone up too as well. So I wonder if that is having an impact today. Also stocks surging today.

 

Whatever causes it, It is painfully obvious that PM's are more desirable than the US Dollar.

 

Indeed....the faith in the dollar is waning......

 

Reagan got out of it with the biggest tax increase in US history. lol
My tax liability along with that of most individuals and many smaller businesses doubled overnight when the current deductibles were suddenly disallowed by the new IRS regulations. It was a slight of hand increase, but it went beyond what many thought possible. My accountant told me "this can never last". How wrong he was. Suddenly, sales taxes were no longer deductible as well as interest with the exception being mortgages. A lot of previously deducted "business expenses" were gone.

Nope, he only raised taxes to get out of it, history does not lie and I remember this very well. In fact, these new IRS policies actually destroyed some industries here. Yacht manufacturing was GONE ! The Horse Racing Industry took a huge hit as well as those who sold the $100 business lunches. lol
Money just went from circulation to the federal government instead. Better ? Not in my opinion.

 

Going back to the original post, I think that gold will see $1600.00, and silver will see $34.00 in 2011. These are my guesses, not predictions

Elaine, I think you may have to come back and make an amendment to your prediction, otherwise this thread is going to wither away!

 

Just a few corrections for the record. The Tax Reform Act of 1986 is what I believe you are referring to. It took away some personal deductions but the only real business deduction disallowed was meals and entertainment, which I believe most would agree was abused. Personal deduction of many things was taken away, but why should we be subsidizing interest expense for cars and credit cards for people? I would say it didn't go far enough. As for "Reagan's Tax increase", remember that the Democrats controlled both houses by large margins. Reagan was in the White House but could not dictate tax policy to the Democrats. It was different 4 years later under Bush who agreed with the tax increases, Reagan didn't. Even so, at teh end of Reagan's 8 years in office taxes were MUCH lower than they were under the Carter administration. You call the tax increase the largest in history, (it wasn't), well his tax decrease 5 years earlier was the largest tax decrease in history.

The yacht tax was not in 1986 but later. That was "punishment" of the rich by Congress thinking it would simply make the rich pay more for yachts. Instead it destroyed thousands of blue collar jobs, while the rich bought their yachts elsewhere.

I know this history well Gary, if you wish to debate it. I had to study a lot of it for my CPA license.

 

She's really been MIA. Not sure what it would take for her to come back. Oh wait, I think I know.... =)

 

Apparently its not $26 silver...