Next Level: GOLD $1,350.00

$1136 now..

Looks like the fuse is going out FAST!

 

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$1127.70!!

Just wow!!!

 

Looks like EVERYTHING is down! WTF!?

DJIA
10,578.44
-85.55 NASDAQ
2,276.58
-35.83 TSX Gold
347.69
-7.93 RUSSELL
634.67
-9.32 GOX
210.04
-8.45 NYSE
7,353.46
-95.59 TSX
11,811.07
-136.06 USD
76.94
-0.14 HUI
448.26
-17.06

JSE
2,500.54
-40.09 Crude Oil81.05-1.47Charts..

GOLD
01/12/2010
13:19
1128.30
1129.30
-22.40
-1.95%
1127.20
1154.00
SILVER
01/12/2010
13:19
18.18
18.21
-0.37
-1.99%
18.16
18.64
PLATINUM
01/12/2010
13:19
1553.00
1559.00
-34.00
-2.14%
1551.00
1609.00
PALLADIUM
01/12/2010
13:19
421.00
427.00
-10.00
-2.32%
420.00
441.00

 

Looks like a bunch of insiders know something we don't...

Just kidding, of course there's no such thing as inside trading... :rolling:

 

SAN FRANCISCO -- February gold futures closed $22, or 1.9%, lower at $1,129.4 an ounce Tuesday, weighed down by prospects for slower growth after China moved towards raising borrowing costs, a sign the world's largest consumer of many commodities is trying to cool its rapid growth. Gold had briefly turned higher after the U.S. dollar fell. The dollar index recently traded down 0.1% at 76.98, coming off lows of 76.76.

 

This is a pretty dollar positive article.

http://www.foxbusiness.com/story/ma...oosts-cash-reserve-ratio-145535181/?test=comm

 

Uhhh....yeah. Just like the "Foundation of our (USA) economy is STRONG". How many jobs have been lost in the last couple years? Millions?

 

World economics is beyond me......

BUT, I can read. And I read that when Great Britain was the world's leading economic power, say from some time prior to the American Revolution until World War I, that their currency was the definition of value. It was called the "Pound Sterling" and it took 5 of our dollars to buy one of their pounds. As the Empire began to decline, the British were the first to begin to remove precious metal from their circulating coins. The 0.925 'sterling' standard was debased, but initially only slightly to 0.900.
Then again, after World War II, they realised that a further decline was upon them and they entirely severed their connection to precious metals in their coinage.
Nearly 20 years later the USA was compelled to follow suit. Even then our economic strength was waning.
Now the economic dynamos of the planet are moving again westward, this time across the Pacific Ocean instead of the Atlantic.
-----------
Silver, Platinum, Gold, Palladium, perhaps these new (to us) elements that seem to be so essential to the world of the future (the rare earths), retain their value because their value is real, not illusory. They can actually be fabricated into something that is useful, or sufficiently attractive that powerful people will expend the labor of their minions to obtain them. They also store well. They don't mold or otherwise become worthless with age, as might rice or wheat. A $400 cell phone has no value whatsoever intrinsically. Neither has a pair of shoes any value beyond their ability to cover one's feet, whether they be made of woven rushes or alligator skin.
-----
Bullion may not go up. It may not go down. But it will never be entirely worthless either. Keep some just in case.

 

Right on! I posted a new thread with the following quotes:


"With the exception only of the period of the gold standard, practically all governments of history have used their exclusive power to issue money to defraud and plunder the people." -Fredrich August von Hayek

"The desire of gold is not for gold. It is for the means of freedom and benefit." - Ralph Waldow Emerson

"No wonder governments don't like gold. No wonder the central banks despise and fear gold. They fear gold because when gold rises, it's telling the world that their governments are debasing the currency." - Richard Russell

"Gold is to monetary policy what the North Star is to determining location." - Steve Forbes

"Gold still represents the ultimate form of payment in the world." - Alan Greenspan

 

Currently

Gold @ $1,127.70/oz., low: $1,123.40/oz., high: $1,154/oz.

Silver @ $18.24/oz., low: $18.14/oz., high: $18.64/oz.

 

The talk of a rebounding dollar is not isolated: http://online.wsj.com/article/SB10001424052748704718204574616361239219786.html

 

Don't shoot the messenger. I'm on these forums because I like gold. You think I really believe the media spin on USD?

 

Wasn't "shooting" you. Just stating a rebuttal for the article, not you

 

It seems like there's a conductor somewhere telling the MSM to talk up the USD doesn't it?

If we can be in such debt, and print so much money and still have a strong dollar...or a dollar GETTING stronger, then heck, print more money!

We were all wrong! Printing endless money apparently causes the dollar to rise in value!!! :rolling:

 

The DOW did end on a sour note. Makes you wonder why the MSM is so quick to praise the dollar...shouldn't they be doing this at the end of the year so they have some history backing them?

That's like rewarding someone the nobel peace prize before they actually provide peace...oh wait...:goofer:

 

HAHA LOL! You hit the nail on the head, especially with the Nobel Prize...hahaha

 

Our current debt: $12,285,484,345,787.32

And our unfunded liabilities is over 106 trillion!

They could sell California to China, tax everyone 100% and it still wouldn't pay off the debt!!!

Since neither one is going to happen, how does the MSM feel now about the USD?

 

More talk of a dollar turn-around, albeit a more pragmatic view: http://www.newsweek.com/id/230379

 

Currently:
Gold at $1,136.40/oz.

Yesterday US close
Gold at $1,128.80/oz. low: $1,123.40/oz. high: $1,154

 

You have to go long term if you follow what every-one says it will lead you in the nut house.