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Re: China & India tell the IMF to sell its Gold!!!!
That is not the reason gold is getting killed. However, I think we know who the buyer of that gold is.Originally posted by Mega View Post
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Re: China & India tell the IMF to sell its Gold!!!!
You know what happened to the gold price the last time there was a major coordinated organized gold sale? The gold price went up like 400%Originally posted by Mega View Post
What me worry? Hell No! I already got mine
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Re: China & India tell the IMF to sell its Gold!!!!
Got my 1 oz coin! :cool:Originally posted by jtabeb View PostYou know what happened to the gold price the last time there was a major coordinated organized gold sale? The gold price went up like 400%
What me worry? Hell No! I already got mineComment
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Re: China & India tell the IMF to sell its Gold!!!!
This is what I call MEGA buy signal.Originally posted by Mega View Post
Seriously, the stated reason for selling all IMF gold to help finance poor developing countries cannot be taken at face value. :confused: :eek:
IgorComment
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Re: China & India tell the IMF to sell its Gold!!!!
Mike - Gold is fine. It's that damn currency of yours. It's up almost 9% over the last month. Tell the BoE to quit buying bonds. Gold is fine over here, we're going to keep beating the greenback with a bludgeon.Originally posted by Mega View PostComment
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Re: China & India tell the IMF to sell its Gold!!!!
You know, i NO idea WHY the £ is flying......NONE!
MikeComment
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Re: China & India tell the IMF to sell its Gold!!!!
Its called a vicious bear market rally. When I was long Yen and Short sterling, I surrendered a chunk of my gains when Sterling rallied from 139 to the Yen to 159 in a matter of two days.Originally posted by Mega View Post
Faber has already explained that although the fate of some paper currencies is sealed in the long term, in the short term you will see MASSIVE volatility. Anyone who is playing the market needs to be prepared for that.
Ive suffered a bit from that as well lately - I bought gold at $920 an ounce and saw it tumble to $870. But I didn't break any sweat - if my understanding of the UK's debt problems is right, these prices won't last very long (gold at less than £600 an ounce). You can't print gold and its not a debt obligation. The UK on the other hand has massive debt obligations in £ and foreign currencies. AND, those obligations have to be met at a time when the private sector is SHRINKING and government spending is EXPLODING (with un-dreamt of debt levels for the average British household and spiralling debt for the Government).
This is what I call a no-brainer.Comment
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Re: China & India tell the IMF to sell its Gold!!!!
The £ long term?
Dead as a tin of Span!
MikeComment
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Re: China & India tell the IMF to sell its Gold!!!!
So, I wonder why China would be asking for this??:rolleyes:hmmm. How nice that the IMF will hand over all of its gold to China while the Fed.RB simultaneously takes the treasuries off China's hands. Gold for treasuries in one swap - nice move!:eek:Comment
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