Gold spot thoughts??

Religious discussion isn't allowed on the forums.

 

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Yeah, but if that were strongly enforced we couldn't have half the posts on the PM section. Half here are accused to being succubis' of evil paper markets, the other fervent monks of the physical pm faith.

 

I was gonna drive to D.C. and ask the Pope to bless my metal detector, but the line was too long.

Wonder what's a foot deep under the White House lawn? For most of the 19th Century, it was more like a public park, no fences, no controls.

 

Just what Floyd R Turbo would have said were he still alive.

 

The spot price really has very little to do with the price of physical gold.

And I think it's attachment is about to be much, much less.

 

And the same for silver. The Apmex premium for 90% soared yesterday, BEFORE the Fed announcement.

 

Let Blankfein bless it. He's "doing God's work."

 

It'll play "ring around the rosies" for another couple months. Back and forth 30-50 bucks up and down like it has been doing for who knows how long. Nothing to write home about.

Nothing to see here citizens, move along. That's my buck two fifty

 

agreed. what a bunch of shrill ninnies and nutbags

 

1. The ratio of paper gold to registered gold is over 200:1 and skyrocketing. This is evidence that people are taking arbitrage between paper and physical prices, which is further validated by physical market premiums. At this rate paper is heading for zero because there won't be any metal backing it. Of course as the price changes, inevitably so too will this rate of change one way or another.

2. I was. I don't recall junk silver ever having these kind of premiums.

3. People don't care about gold so it's all being bought up?

 

You do not recall when silver dropped to like $14 and everyone was screaming how ASES were still $18 or more? It was all this board talked about for a few months.

Anyway, we can all think what we like. My view of physical pm stocks on the COMEX is people don't bother since there isn't enough demand to make it worth their while.

By the way, you do know for every ounce of shorts there is an ounce of longs, right? Neither side wants to take delivery, they use the paper to hedge risks. I buy and sell hundreds of contracts of commodities a year at work and do not take possession of a single one. It's simply how risks are hedged. It was never intended to be a supply mechanism like you seem intent on making it.

Also, I hear no one talking about pm except on coin and bullion boards. Its one of the reasons I am comfortable buying now. I like to buy when no one is talking about it.

 

There can only the most committed die hards left in the bullion trade. I'm one of them, but it's been a tough road the last few years. I'm holding out for lower prices. Not saying today is a bad price, I've just loaded up on enough at these prices for my budget that I feel good where i'm at. Now, we get a crack at $125 10oz bars, and the '01 Chevy Cavalier may just get sold.

 

I'm baaaaack, after a 3 month ban for being too political and pointing out what I believe is the hypocrisy of the site's rules when juxtaposed against the content of this section, which as @medoraman so eloquently pointed out, is highly religious, and also, just grossly political by its very nature. Who says so? Well, there's me and also the 2008 Nobel Prize winner in economics. I can post a link if you like. I have his text, but I didn't save the link. His thesis is that inflation hawkishness is inherently a "politics first, last and only" viewpoint.

Where I erred was in suggesting Peter knows of this hypocrisy and personally endorses it. That was wrong of me. Maybe he doesn't know. Or maybe he disagrees. I still believe this section stands "at natural tension" with the site's rules, as the frequency with which posters are warned of infractions here will bear out. I also read a moderator write that the main purpose of this section is to keep the "garbage" [my choice of word] off the rest of the site.

 

There will be plenty of sheep that follow once it starts going back up. It may take a few years, but it will - and they will lead the way to your new 2017 Cavalier.

At least it's not an illegal gross polluter - like my wife's TDI. (snicker!)

 

Decaf can help...

 

Sir, while I freely admit much of what people believe about PM is wrapped up in politics or even quasi-religious feelings on the subject, I do see where the moderators are coming from. We can discuss certain current events, (as they pertain specifically to pm), in conversations, but nothing else. Why? Because then this would very quickly devolve into a political free for all screaming match, and I would probably get a time out as well. No one needs another politics chatroom, plenty of those around already. There is plenty to talk about concerning economics of pm, miner capacities and health, how pm acts as an investment vehicle, basis for physical, etc etc without having to get into a full bore political screaming match. Any poster can simply sum up their political views by saying "I believe X will happen to inflation" and leave it at that. They can discuss WHY they believe that point elsewhere on the web.

The second point is you crossed the line calling Peter out. He is a gracious and generous host here. He is very hands off, and simply wants a G rated chat board about everything numismatic. If it were my board and you would have said about me what you said about Peter, you wouldn't have gotten, (and not just you sir, others have been there too), a "timeout". I am not that nice.

PM is a volatile area to discuss for all the reasons you outlined sir. CoinTalk COULD have simply banned all PM discussions altogether, but they didn't. They simply made a subsection for such discussions and allowed it to continue given rate G discussions and no political or religious screaming matches. I believe that is a fair compromise. Jim sure would have an easier time of it if he didn't have to babysit the PM section.

 

All of what you write here is undeniably true, but I continue to observe that the inflation hawks get to write the most outrageous things here in this section, and anyone who challenges them has to walk VERY carefully. That "home field advantage" frankly bugs me a great deal.

Sometimes the counter argument to goldbug inflation hawkism MUST veer into politics; there is no option.

 

Eh, I simply use history to disprove their theories. I am not an inflation hawk, and I manage to disagree without having to deep into politics. Actually, I bet you most inflation hawks here would say that this is the most anti-pm pm board out there. We have a number of economics guys here who believe in pm as an asset class, but strongly challenge any "the world will end and paper money, stocks and bonds will soon be worthless" crowd. So I am simply saying it can be done and politics aren't needed.

 

Another observation: someone must have changed Mr. "Strong Hands"' prescription meds while I was away. He was the bull's bull, now he's all "going to 2001". Then the reason hit me - he's a chart watcher. My "Investments" professor was the same one who taught a full semester on Keynes' "General Theory". He was a technical analysis hyper-critic, and it rubbed off on me. I don't DO charts. Voo-doo, to me. I only look at market fundamentals and "opportunity costs". That still looks bearish for PM's to me.

 

Glad you are back, even though I admit, I don't yet know the details of what you said that got you banned, but curiosity will lead me to find out. Ha, ha! Also, I was not a member until July, so I am not knowledgeable, once again, on specific details.