Still time to buy gold imo. - Page 53 - Economics -- Two Plus Two Poker Forums

**Bigdaddydvo** · 12-21-2009, 03:09 PM

We're south of $1100 right now...$1093 atm

KUJustin · 12-21-2009, 04:43 PM

Any thoughts on the US gov't blocking a Chinese company from trying to acquire a small US mining company? They cited security concerns due to many of the mines being near sensitive military operations. I'm wondering if there's more to it than that.

http://www.nytimes.com/2009/12/22/bu...2&ref=business

tolbiny · 12-22-2009, 11:06 AM

Congrats to all those who waited to buy- 1075 right now. 1074 is supposed to be a resistance level- then we have 1050 and then 1000 iiuc.

Lefty McDog · 12-22-2009, 11:24 AM

Quote:

Originally Posted by tolbiny

Congrats to all those who waited to buy- 1075 right now. 1074 is supposed to be a resistance level- then we have 1050 and then 1000 iiuc.

Just went long 2 mini futures contracts at $1078 !

stop is set for $1063.

**Bigdaddydvo** · 12-22-2009, 11:45 AM

Wonder if people are selling off in earnest right now to square books away before the end of the year.

ErikTheDread · 12-22-2009, 12:27 PM

Quote:

Originally Posted by KUJustin

Any thoughts on the US gov't blocking a Chinese company from trying to acquire a small US mining company? They cited security concerns due to many of the mines being near sensitive military operations. I'm wondering if there's more to it than that.

http://www.nytimes.com/2009/12/22/bu...2&ref=business

Quote:

other sensitive and classified security and military assets that cannot be identified

Yes, there's more to it. Lizard people alien technology.

J.R. · 12-23-2009, 01:31 AM

==========

Jim Sinclair on King World news 12.21.09

Egon von Greyerz of Switzerland's Matterhorn Asset Management

J.R. · 12-23-2009, 01:32 AM

Mediocre_Player · 12-23-2009, 06:23 PM

heh didn't think i'd get a 2nd crack. i bought about a year ago at ~ 990 and with it some GDX. will probably reload if it gets into 1025-1045 range.

gold/silver ratio has firmed up quite a bit this year.

GuvnorJimmy · 12-23-2009, 06:39 PM

All short-term. This dollar rally will not last long.

Another guy who I have a great amount of respect for:

http://www.youtube.com/watch?v=zT4rOlCWGFg

HIV · 12-23-2009, 07:54 PM

Quote:

Originally Posted by GuvnorJimmy

All short-term. This dollar rally will not last long.

Another guy who I have a great amount of respect for:

http://www.youtube.com/watch?v=zT4rOlCWGFg

the interviewer looks a lil like lady gaga

Borodog · 12-25-2009, 12:03 PM

Bought at the local minimum to get the wife's birfday present:

Got her one 2.5g pendant that I will get a 22 karat chain for, and two 1g that I will have turned into earrings. Apmex has them if you are interested in getting some for that special gold buggette in your life.

**Bigdaddydvo** · 12-25-2009, 12:13 PM

Quote:

Originally Posted by Borodog

Bought at the local minimum to get the wife's birfday present:

Got her one 2.5g pendant that I will get a 22 karat chain for, and two 1g that I will have turned into earrings. Apmex has them if you are interested in getting some for that special gold buggette in your life.

Merry Christmas Boro, nice to see you back.

Thoughts on the recent pullback? IMO the dollar is getting an artificial bounce from sovreign debt default risk of Greece, et al, thus making this a nice buying opportunity.

Borodog · 12-25-2009, 12:27 PM

Absolutely. Like I said, I bought at $1080, and I am praying that gold stays low or goes lower until I get my Christmas bonus.

**Bigdaddydvo** · 12-27-2009, 06:40 PM

Up to around $1110 with the spot market opening.

Lots of Gold H8 in this piece. Some HighLOLights:

Quote:

Nouriel Roubini, economics professor at New York University and one of the few experts to warn about the epic U.S. housing bubble and its consequences when there was still time for central bankers to safely deflate it, this month warns about "the new bubble in the barbarous relic that is gold."

Reminding clients of his financial advisory service that gold "has no intrinsic value," Roubini finds no fundamental justification for gold's rise "with no near-term risk of inflation or depression."

But pretty green pieces of paper obviously do, amirite?

Quote:

Gold, truth to tell, is a lousy investment. It pays no dividends and incurs high storage costs. It is illiquid (try paying for groceries with a gold bar). And it's in almost infinite supply.

Central banks and the International Monetary Fund can and do regularly sell off gold from their reserves, flooding the market. Gold producers bring uneconomic mines back into production when a rise in gold prices makes them viable again.

Yes, I also try to buy bread with a share of Google

Also, Central Banks have become net buyers of gold this past year signifying a huge shift. Apparently CBs have called into question the intrinsic value of the $Trillions of pretty green pieces of paper they've accumulated through the years.

Quote:

Economic conditions today arguably are better than at the time of the mania three decades ago. The U.S. dollar has strengthened — accounting for gold's recent retreat - and will strengthen further as its economy recovers and its yawning trade gap with China narrows. It's the weakening of the greenback, more than anything, that accounts for the recent rush to gold.

I would instaswap today's economy for that of 1980. Then the dollar could be and was defended, albeit with significant pain. Today? The interest rates it would take to tame price inflation would slaughter this economy kept on life support by zero interest rates.