There can also be credit expansion and contraction, if fractional reserve lending is possible.

looks like new highs coming v soon

I know you are seeking to post inflammatory ideas to draw attention to yourself, but oddly enough, you really are almost there this time, despite yourself.

If you so desire, look closer at history, and ignore the heat from the AE fanboi, and you see the truth:

What fails, over and over throughout history, is the artificial attempt to fuse monetary functions, aka the medium of exchnage and the store of wealth, into one via fixed parity.

Its obvious you are here to troll again and start trouble but I'll throw you a few bones to make this apparent to everybody.

The U.S. central bank has not had any gold holdings since FDR's expropriation of the private banking industry's gold in the 1930s. All of the gold in the Fed's vaults belongs to somebody else - either the US treasury (the FED holds paper certificates for this gold on its balance sheet at $42.22/troy oz (http://www.federalreserve.gov/releases/h41/current/) or it stores foreign government gold.

http://www.federalreserve.gov/moneta...able1popup.htm

NYFRB stores foreign gold:

http://www.ny.frb.org/aboutthefed/whatwedo.html

The argument is that US government has encumbered much of whatever gold it actually "holds" via leasing agreements with the bullion banks and/or foreign CBs.

WRT to Central Bank gold leasing, we know that in furtherance of the EURO freegold project, The European Central Bank and the central banks of Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Portugal, Spain, Sweden, Switzerland, and England agreed curtail gold leasing with the "Washington Agreement in 1999 -

http://en.wikipedia.org/wiki/Washing...eement_on_Gold

See also - http://www.usagold.com/newgoldmarket.html

================

The spot price of gold is set by paper, aka derivative contracts. Gold is leased to back up this system and keep it from collapsing, but gold manipulation is not about selling extra gold, its about selling extra futures contracts to buy gold that the seller doesn't have, aka "naked shorting."



http://gold.goldprice.org/2009/01/spot-gold-price.html

Which is why the COT report (http://www.technicalindicators.com/cotgold.htm) and the International BIS report on gold derivatives is watched by many, as in Gold Derivatives Update: BIS Swaps

GLD and SLV are used in analogous fashion, in that they adsorb demand for gold without immediate changes in actual metal - (yes they own metal but is it allocated and in a 1-1 relationship with dollars invested - ldo no) - GLD and SLV: Disclosure in the Precious Metals Puzzle Palace

Huge spike today...would have been like a $20 move without the dollar strengthening.

yes and if you had read my post: I was never denying that.

ring-a-ding-ding-ding-ding on the $20/oz silver

I have many maple-leafs and Silver-eagles and Libertatads but the silver price does not matter because I am not going to sell them.

Thank you for listening

Also seriously J.R it cannot be that you read one sentence you disagree it do not even bother to read the explanation and attack me personally again.
Stop that!

I've been waiting for a dip to buy since it was in the high 18's and there hasn't been one

Not sure if I should continue to be patient....

*hi-five*

same boat, though i did buy a pretty solid paper bag last week (my biggest one-day buy to date), i got a stack waiting to put that one to shame.

would've just went with one BIG buy (at least on my teacher's budget), but it was burning a hole in my pocket. now though, it looks like it was good that i did, seeing how a brother can't get a little dip.

then again, i ****ing bought three 1/10ths that average BELOW SPOT at my shop lolol. it's also funny how fast all the 90% comes out when there's a spike in silver.

Your welcome guys- this dip came minutes after my purchase today.

bought 55oz silver and 1oz gold today

One more similar purchase on next good dip and I'm done for a while

That's what they all say.

Good things.

haha..exactly.

i know i just said i'm trying to hold off for a little bit of a dip, but god knows i don't care anymore. when i get it in my head to add a little to the safe, i'm going regardless. i might check spot that morning and again when i'm headed to the shop, but at that point, i'm buying anyway.

i'm not doing it for next week.

wife told me that since we'll have our house soon, we should start tossing a couple bucks a paycheck into our ing account online to save up to buy something for the house. i told her, 'you go ahead, i think i'll just go ahead and keep buying metals'.

i think it *really* dawned on her at that exact moment that what i've been doing hasn't been all about playing with coins on the weekend.

that and a month ago when we were a little short (had just put down half on going to cancun in december the day before) on coming up with various fees for the house that seemingly fell into our lap and i said, 'no worries, i'll just sell some silver'.

'but that's yours...you collected all that and i don't want you selling $500 worth of your silver'

'yeah hun, but this is what i do it for....plus, i'm not selling any gold, that's mine'

Many thanks, to you and your wife.

what kinda % would you guys feel comfortable putting into gold/silver? Currently of my portfolio (really dont have a portfolio though.. just have my poker bankroll in dollars and then some gold/silver) I've got like 15%. I don't really feel comfortable leaving the rest in cash but then also am not sure I feel comfortable putting such a large % into gold (should I?), but what else is there? Kinda sucks because it seems like US dollar is very risky, obv don't want bonds/treasuries, so then what?

I don't know much about real estate and am not in a situation where I'd be able to even buy it since I travel a lot. I don't know much about investing in stocks to really feel comfortable choosing my own foreign stocks, so what should a poker player in my situation do? Is best bet just going higher position in gold?

23 kilos

Watching the kitco charts it just occured to me that the chart looks like whack-a-mole, and the moles are winning.

^That looks a tad rough in the texture area to rub on ones titties..........., but I still would!^

Why are you rubbing yourself with Kitco charts???

all time high bitches!

Re: 10:13

Not any more its not.

$1270!!!

Silver broke 20.50 today as well.

+2


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