You don't think people are any more knowledgeable of money et cetera than they were 1, 5, or 10 years ago?

Essentially Operation Twist 2 would have the Fed selling SHORT dated paper because they can hold short term rates down with the discount window rate set to zero, which they have already promised to do for at least two more years. They can use the procedes from selling short dated paper to buy up long dated paper and hence support that market and keep long term rates low, without the risk caused by selling derivatives to keep long term rates low, which requires more and more exposure (just like to hold down the price of silver JPM had to accumulate an increasingly large naked short position). The problem is that the Fed does not have much short term powder on their books; they've already shifted their maturity spectrum to the long end (I had this backwards before). This will keep rates low across the maturity spectrum, maintain the size of the balance sheet and avoid the long end rate risk exposure of derivatives. The problem is that I don't see how it will do anything to support the economy or markets.

its 1800 all over again

FWIW, I think they are. I don't think I would have ever understood what a scam mainstream economics (let alone actual politics and business) is in 1980s without the help of mass use of internet. Austrian school absolutely dominates the internet. Ron Paul absolutely dominates the internet. People who are capable of having any clue whatsoever about what's going on are in a much better position to put the pieces together today than 1, 5, or 10 years ago. These people are then in a much better position to influence all of those who are not capable of having any clue whatsoever in the right direction. Furthermore, these people are in a much better position than ever before to gain a position of power.

Not saying that already after this collapse sane money will replace fiat, but it is more likely this time than the last time, the next time than this time, and the overnext time than the next time.

Initial margin is currently $9,450, so on a 100oz contract @ $1800/oz thats 5.25%. So a $95 move would wipe you out completely.

The maintenance margin is $7000 (they ask for more money long before you're wiped out completely), so all it takes before you have to pony up more money to maintain your position is a $25 move against you.

Mind you, these are the rules the exchange enforces. Most (all?) brokers have even higher margins to protect themselves (if you can't pay the brokerage is on the hook).

http://www.ebay.com/itm/1967-Canadia...a#ht_500wt_949

Less than melt shipped... .5287 AGW and about 1.1 ASW.

At $1800 gold, this is gold shipped free at melt, and free 1.1oz silver. Just bought a new laptop and now have no monies, gg me.

If the media really wanted credibility, they would explain that the printing of money will always devalue the currency and the price of gold will rise in relation to that currency...

Funny how those deadbeats tossed off their margins are coming up with the cold hard cash...

And as I've mentioned earlier in this thread (something I saw happen during the 1979/1980 blowoff), when coworkers start musing about quitting their jobs to move out west and pan for gold, and nobody looks at them like they're crazy. This will be about the time that buying junior exploration penny stocks on margin is widely thought to be a really smart thing to do.

God damn it and I was planning to buy my first ever small amount on Monday!

Should I wait now, or should I just buy it anyway?

I'd buy now cause I'm a coward.

Your timing is going to have to be good as a few hours could mean $10 or more per ounce of differentiation. In the long-term, theoretically, buying gold now is going to be a good move, but as for when the next dip in prices will be, that is a mystery with how these wave has been going. I expect it to fall below where it is now, but then again, it could make another rally.

If I were you: I wait for another dip over the next two to four weeks and buy there. The risk is that it could jump up to $1900 or $2000 and you'll have lost money. I have a real hunch that gold will fall below $1800 again before September is over.

Could just refer to:
Seems weird to me that you're making it seem like people in this thread have something to prove and are proven wrong simply due to some short term moves down in gold. We've been hearing the same thing from anti-gold people for the entire thread.

Nobody "really knows" anything, but that's always been the case and not relevant to making decisions of where to invest your money. Just because nobody knows anything for sure doesn't mean everyone has an equal chance at assessing the situation and then making a guess as to what will happen. Likelihood of gold being higher 5 years from now as opposed to lower is extremely high.

Swongs

they are definitely 1 thing.

I have a feeling that was the low and we're not gonna see gold below 1700 again.

I still feel like there is a concerted series of margin hikes in the future.

Yeah, but a purchaser will still have to come up with the cash in inflated currency, which I am sure they will glady do, once everybody figures out how much the sovereign governments f(*%ed up...

When this happened in April/May SLV dropped form something like 48 to 32 but its action was heavily margined, is this the case for gold as well?

up $30.90 at 7:06...

http://www.ebay.com/itm/2011-50-1-oz...item35b4c6f8c7

2011 GAEs for $1850 shipped (less than spot with ebucks/rebates/cc rebates), 10+ left.

..and down $42

thanks for pointing these deals out...can you possibly elaborate a bit on the ebucs and other rebates?

Whee!

Obligatory TCE was right brag.

Seriously, though, this might be the gold roller coaster for a bit until something else big happens to stabilize the market one way or the other.