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Joined: Jun 2002
Posts: 131,531
Campfire Sage
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Campfire Sage
Joined: Jun 2002
Posts: 131,531 |
Don't worry,when hawkeye said he bought gold at the fire sale a few days back, most knew not to buy.
I feel sorry for the ones who thought he called it. I'm going to save this post for posterity.  We'll all have a good laugh at it a year from now. PS For the record, "a few days back" was Monday, April 15th, 2013. Good thing I saved this post for posterity. Gold just hit $1382.00 amidst a solid upward trend starting in December. 
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Joined: Jun 2002
Posts: 131,531
Campfire Sage
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Campfire Sage
Joined: Jun 2002
Posts: 131,531 |
Here's what I said last April:
"There are no fundamentals driving the dive. It's pure emotion ... Take advantage. Eventually, when emotions stabilize, the fundamentals will reassert themselves."
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Joined: Mar 2014
Posts: 3,344
Campfire Tracker
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Campfire Tracker
Joined: Mar 2014
Posts: 3,344 |
"Sanctions could lead to retaliatory action, and that would trigger a spiral with unforeseeable consequences," warns China's envoy to Germany adding that "we don't see any point in sanctions." On the heels of Merkel's warning that Russia risked "massive" political and economic damage if it did not change course, Reuters reports ambassador Shi Mingde urged patience saying "the door is still open" for diplomacy (though we suspect it is not) ahead of this weekend's referendum. Russia's Deputy Economy Minister Alexei Likhachev responded by promising "symmetrical" sanctions by Moscow. So now we have China joining the fray more aggressively.
Via Reuters,
China's top envoy to Germany has warned the West against punishing Russia with sanctions for its intervention in Ukraine, saying such measures could lead to a dangerous chain reaction that would be difficult to control. In an interview with Reuters days before the European Union is threatening to impose its first sanctions on Russia since the Cold War, ambassador Shi Mingde issued the strongest warning against such measures by any top Chinese official to date.
"We don't see any point in sanctions," Shi said. "Sanctions could lead to retaliatory action, and that would trigger a spiral with unforeseeable consequences. We don't want this."
...
Using her [Merkel's] toughest rhetoric since the crisis began, she warned in a speech in parliament on Thursday that Russia risked "massive" political and economic damage if it did not change course in the coming days.
Russia's Deputy Economy Minister Alexei Likhachev responded by promising "symmetrical" sanctions by Moscow. But Shi urged patience, saying the door for talks should remain open even after a referendum on Sunday in which Ukraine's southern region of Crimea could vote to secede and join Russia. Merkel and other western leaders have denounced the referendum as illegal and demanded that it be canceled.
Done in Convention by the Unanimous Consent of the States present the Seventeenth Day of September in the Year of our Lord one thousand seven hundred and Eighty seven.
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Joined: Mar 2014
Posts: 3,344
Campfire Tracker
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Campfire Tracker
Joined: Mar 2014
Posts: 3,344 |
The way I see it last years take down was pure manipulation in London and New York. Once China teams up with Russia and decides to "punish" the dollar gold is going to explode to the upside.
I have been wrong before...
Done in Convention by the Unanimous Consent of the States present the Seventeenth Day of September in the Year of our Lord one thousand seven hundred and Eighty seven.
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Joined: Nov 2002
Posts: 33,683
Campfire 'Bwana
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Campfire 'Bwana
Joined: Nov 2002
Posts: 33,683 |
Alright I went and did it. Swapped $100k in equities for gold. We shall see.
Conduct is the best proof of character.
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Joined: Mar 2014
Posts: 3,344
Campfire Tracker
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Campfire Tracker
Joined: Mar 2014
Posts: 3,344 |
http://kingworldnews.com/kingworldn..._To_Sue_Banks_For_Gold_Manipulation.htmlGold manipulation investigations getting serious. I tend to believe it. Gold is going to 2200??? I kinda think so.
Done in Convention by the Unanimous Consent of the States present the Seventeenth Day of September in the Year of our Lord one thousand seven hundred and Eighty seven.
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Joined: Jul 2006
Posts: 62,043
Campfire Kahuna
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Campfire Kahuna
Joined: Jul 2006
Posts: 62,043 |
Don't worry,when hawkeye said he bought gold at the fire sale a few days back, most knew not to buy.
I feel sorry for the ones who thought he called it. I'm going to save this post for posterity. We'll all have a good laugh at it a year from now. PS For the record, "a few days back" was Monday, April 15th, 2013. Good thing I saved this post for posterity. Gold just hit $1382.00 amidst a solid upward trend starting in December. ========== Yeah, good thing. Stick to the recipes section,screwball. You won't embarrass yourself as frequently as you do here.
The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails.
William Arthur Ward
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Joined: May 2009
Posts: 18,508
Campfire Ranger
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Campfire Ranger
Joined: May 2009
Posts: 18,508 |
I once saw a blind man walk between two speeding trains without being killed.
There is no accounting for dumb luck.
However, we're still waiting for the Negro revolt and the Fluoride wars to begin.
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Joined: Jul 2006
Posts: 62,043
Campfire Kahuna
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Campfire Kahuna
Joined: Jul 2006
Posts: 62,043 |
The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails.
William Arthur Ward
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Joined: Jul 2006
Posts: 62,043
Campfire Kahuna
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Campfire Kahuna
Joined: Jul 2006
Posts: 62,043 |
Hawk, you just went above break even for the past year. I made 30% in the stock market over the same period, yet you seem happier than I am?
The only conclusion I can draw is that money doesn't make you happy, but gold does.... I identified a point in the dip when it would be wise to begin buying gold, i.e., there and lower. The key word is begin. Those who've been buying at key dip points since last April 15th, through the spring, through the summer, through the fall, and through the winter, are pretty happy right now. The course of events also demonstrates that Bob was all wet when he suggested that a buy recommendation starting in April of last year was inadvisable. Well, he didn't phrase it quite as politely as that, but you get my meaning. I was right and he was wrong, but he won't admit it. He won't step foot anywhere near this thread. ======== TFF.
The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails.
William Arthur Ward
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Joined: Dec 2009
Posts: 4,638
Campfire Tracker
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Campfire Tracker
Joined: Dec 2009
Posts: 4,638 |
Gold is crashing because it was a bubble based on people's fears of the dollar crashing. Nothing more, nothing less. Now that people are gaining faith in the dollar, gold is sliding.
I probably hit more elk with a pickup than you have with a rifle. I have yet to see anyone claim Leupold has never had to fix an optic. I know I have sent a few back. 2 MK 6s, a VX-6, and 3 VX-111s.
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