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Gold going up this year?
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Sorry, as the copy & paste makes it very unreadable & torture to the eyes, for more easier read, go to this site:
http://www.strike-the-root.com/columns/Chkoreff/chkoreff1.html
Read this article extracted from:
http://blogs.moneyandmarkets.com/red-hot-energy-and-gold/gold-g-o-o-o-o-o-o-o-o-o-old/
Scott Baker 02.11.09 at 10:09 am
Before we get too excited about gold (though 10% of my portfolio is in GLD or related instruments), let’s remember what FDR did in 1933:
“On March 9, the Senate passed the Emergency Banking Act after very little debate. This gave the Secretary of the Treasury the power to compel every person and business in the country to relinquish their gold and accept paper currency in exchange.
The next day, Friday March 10, Roosevelt issued Executive Order No. 6073, forbidding people from sending gold overseas and forbidding banks from paying out gold.
On April 5, Roosevelt issued Executive Order No. 6102. This was the order to confiscate everybody’s gold. It commanded everybody to deliver their gold and gold certificates to the Federal Reserve bank, where they would be paid in paper money. You could keep up to $100.00 in gold, but anything above that was illegal. Gold had become a controlled substance. Possession was punishable by a fine of up to $10,000 and imprisonment for up to 10 years.
Now the only people with a claim to gold in the Treasury were foreigners holding dollars. Since he was on such a roll, Roosevelt decided to rip them off too. On January 31, 1934, Roosevelt issued another Executive Order. Here he declared that the dollar was now only 59.06% of its former gold quantum of 23.22 grains. Now the dollar was only worth 13.71 grains of gold.
Look at it from the point of view of one of these hapless foreigners. It used to cost you only $20.67 to get a troy ounce of gold. Now it cost you $35.00. The U.S. government, under the dictatorship of Roosevelt, had just stolen 40% of your money.”
This is from http://www.strike-the-root.com/columns/Chkoreff/chkoreff1.html - an admittedly anti-FDR site. But, regardless of whether you think FDR was justified in essentially outlawing the holding of gold, you have to consider the possibility it might happen again. Just a hint of such a thing would be enough to crater the gold market, of course. What are your thoughts?
Tonite if u will to look at stock....ave abt 7 to 8%..compare to physical which is 2.9%( at time of this psot) that is the advantage of stock over physical...that is the characteristic as gold go ballistic...
Initially it is not...from experience...that is alway the case...chase physical...and then stock finally charge faster than physical gold.........good luck to all vested.
Large wave 3.........what can i say...just watch.., 929 broken...very bullish..
yup, do not b greedy.
i think the bubble is only starting..not full blown yet..
still can make $$ on gold..
wait 4 gold bubble burst.
cheongwee ( Date: 07-Feb-2009 22:10) Posted:
Really, to talk about fundamental, it is only truly fundamental if majority of the ppl accept it..
Currently only a handful are in gold..but i think BB will come to play this gold story soon if the treasury bubble burst...there will be a flight to gold for sure..
I suggest you put a little here..remember..gold bull is also a bubble...sometime in the future this bubble will burst...then gold will be US$50 per oz...that is what i read...
No doubt, i make handsome profit here, but i am not going to be blind by my ego...this is purely another bubble..
But for the momet just ride the bull and make $$$......good luck. |
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Actually, gold standard sound good...but if ppl want to manipulate the system for their selfish gain, there is nothing we can do..
In the end, a system will only work well if the ppl running them are honest and uprighteous...
Is this possible???if this is . then today we dont have all this crises...all this are cause by dishonetyand grreey and irresponsible ppl ...who run the system..
Really, to talk about fundamental, it is only truly fundamental if majority of the ppl accept it..
Currently only a handful are in gold..but i think BB will come to play this gold story soon if the treasury bubble burst...there will be a flight to gold for sure..
I suggest you put a little here..remember..gold bull is also a bubble...sometime in the future this bubble will burst...then gold will be US$50 per oz...that is what i read...
No doubt, i make handsome profit here, but i am not going to be blind by my ego...this is purely another bubble..
But for the momet just ride the bull and make $$$......good luck.
The US$ will not fail, why???because it is the world reserve currency..it is too big to fail
If you are like China, have US$1.4T in your vault, u will not call for a gold standard...your years of trading and giving US goods in exchange for their $ wiol become worthless..
And we are not talking abt just China, eveb Singapore will not be spare if US$ become worthless..virtually the whole world are awash with the $...no escape.
Because it is the world resrve currency. all commodities are px in the $...u still need them for daily trade...
The gold market is $500b small compare to derivative market which is $48T...so if just 1%($500b) move from derivative to gold will immediately double the px of gold!!!
Then why this is not so???very simple, becos now it not longer have a monetary role, all ppl know...it is just good for making jewellery which is liken by the Indian.(60% of output yearly go to this alone)..in fact gold have very little industrial uses...iron is more useful...only currently 20% are for investment demand..
I say the Persian Gulf gold-back currency will not work, becuase the ME countries have tons and tons of US$ sitting in their vault....if they do this , they are doing harm to their reserve...the dollar they have will become worthless ..
cont....next post....
The rise in the gold price during a US$ counter-trend rally foretells of a strong message. THE GOLD PRICE IS HEADING TOWARD NEW HIGHS. ALSO, THE USDOLLAR IS SOON TO EXPERIENCE SHOCK WAVES. Patience for gold & silver investors will be greatly rewarded. Numerous stories support this claim. Heavy reliance upon the printing press, as in monetization of USTreasury Bonds, is the biggest immediate threat to paper money, and the biggest immediate positive prospect for gold. The USFed has already announced this new policy, as they will purchase USTreasurys from expanded money supply. Any reluctance by foreign creditors to participate in auctions (see the Hat Trick Letter proprietary reports) will exacerbate the movement. Then there is the planned launch of the new Persian Gulf gold-backed currency in early 2010, which should act as a nuclear bomb against the USDollar in less than one year. That is the hidden motive for unprecedented attack of hedge fund crude oil positions by the sponsored Wall Street gangster bankers, aka banksters. That label is well deserved. Their crimes and protection given by USGovt authorities has been clear for the entire world to see. It has been revealed in plain view. Anyone who denies the criminal element in Wall Street, tied with ropes five feet thick to the USGovt ministries, is hopelessly blind at best, and compromisingly moronic at worst.
Uncertainties definitely will boost the value.
Gold may not necessarily always moved in the opposite direction to USD as lately it is instead moving in the same direction as USD. There are just too many other factors that also can influence the direction of gold, eg supply/demand, overbought/oversold, etc, etc, etc
cheongwee ( Date: 07-Feb-2009 02:11) Posted:
US$ forming double top...read
 Print This Post | Topic: Other, Gold — February 5th, 2009
From the above chart we can see that the US dollar has rallied to challenge its previous high, but is now being held up around 86. Here the USD appears to have formed a double top and now looks to break down through the support line that this two month rally was built on.
Watch closely for confirmation of this bearish double top formation, as a break down through 84 at the greenback’s short term support line would suggest a spike up in gold prices. As noted in an article earlier this week, gold is very close to making a new high and breaking through some more technical barriers, and so a dip in the USD could just push gold up enough to break these barriers, clearing the path for a challenge of $1000/ounce.....from Gold Price Newsletter.
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US$ forming double top...read
Print This Post | Topic: Other, Gold — February 5th, 2009
From the above chart we can see that the US dollar has rallied to challenge its previous high, but is now being held up around 86. Here the USD appears to have
formed a double top and now looks to break down through the support line that this two month rally was built on.
Watch closely for confirmation of this bearish double top formation, as a break down through 84 at the greenback’s short term support line would suggest a spike up in gold prices. As noted in
an article earlier this week, gold is very close to making a new high and breaking through some more technical barriers, and so a dip in the USD could just push gold up enough to break these barriers, clearing the path for a challenge of $1000/ounce.....from Gold Price Newsletter.
My forecast for gold is by end of 2015, it will be US$5,000 / oz.
Up to today
gold return 4% and silver 12%
as thre going get better...silver will run multi time faster than gold..
Those so call gold bug over at kitco forum said holding gold feel so good(shiok)...gold and silver is another form of investment. dont fall in love with your investment...
It is even more shiok to hold your love one hand...hold them tight...it is warm..any girl here like to hold my hand are welcome...it is free!!!But it is a bit cold after holding gold and silver for so long..
Actually, Richard Russell said it is time to buy stock when 1 oz of gold buy one dow...but i will be hasppy to let go all my gold and silver relate investment if 2 oz of gold buy one dow...
You got to set your own target...
