Ouch!...

[rogermexico]

Re: Ouch!...

i think gold's CLIMB was the crisis signal, much more worrisome than this selloff in terms of signalling systemic fragility. i think a selloff/correction in gold presages another interval before the true crisis. i.e. the can has been kicked another time.

Precisely, the spike from 1500 in July to 1900 was the signal, not the drops over the past few days.

We are now just in "red alarm light no longer blinking" mode, so the price is settling back..... The alarm has not been disabled, and indeed at some point will glow a steady red until the monetary system is reset...

[tacito]

Re: Ouch!...

Precisely, the spike from 1500 in July to 1900 was the signal, not the drops over the past few days.

We are now just in "red alarm light no longer blinking" mode, so the price is settling back..... The alarm has not been disabled, and indeed at some point will glow a steady red until the monetary system is reset...

Five more physical ounces for me today. When EJ says "this is not a drill", I listen.

[gnk]

Re: Ouch!...

I agree - well said.

But I'll add this - a lot of that recent rise in gold could be attributed to Europe's woes. I don't see Europe successfully kicking the can far enough down the road though. Here in Greece, many people I know are anticipating a major crisis by year's end, if not sooner. It's getting real bad here, and will worsen as the tourist season wraps up. I know many people that are looking to leave Greece in hopes of finding employment elsewhere. They think it's just a Greek crisis and will have better luck elsewhere. A friend of mine that is vacationing here in Greece but lives in Germany was very negative about Germany's future as well.

I see a new European crisis - involving banks, as well as continued societal breakdown... all gold positive. We will be way past 1600 by year's end, IMO.

[jiimbergin]

Re: Ouch!...

Five more physical ounces for me today. When EJ says "this is not a drill", I listen.

No physical today (I think I have enough) but I have bought PHYS and CEF today and even some yesterday.

[tombat1913]

Re: Ouch!...

WHAMMY! Glad someone else said it. Did everyone forget that gold was 1600 less than a month ago.

[jk]

Re: Ouch!...

i topped up my gold position when it went up on the announcement of bad employment data for june, data released in early july. at that time gold was 1520.