Topic: Gold collapsing. Bitcoin UP. - page 1288. (Read 2032274 times)

Frozenlock,

-what's your guess at the bottom for paper silver and gold, and
-if you think it will happen, do you have a guess for when physical stops being available for either/both?

I'm watching daily COMEX reports, and APMEX's inventory as a hopeful early indicator.
It looks like we have at least a bit more downside. How far is the trillion dollar question :-)

Counting on it.

And now silver is following:

That's incredible.

Double Digit Bitcoins, Triple Digit Gold?

Again...

Around 1/20th of one percent?  Not bad, and I would have expected it to be much more.  As a percentage, it's actually less than the transaction fees of many/most BTC transactions even though the costs of these are very highly subsidized at this time.

If I were moving $100M I'd be hiring some serious IT talent to make sure I was using a clean system and binaries and such unless I could do it myself.  I also would be doing it in batches to reduce the chances of getting stuck on the short side of a hard fork or something crazy like that.  Indeed, it could be that a chartered flight touched down on Airstrip One with the bricks before my BTC was fully moved.

I want to see the picture of you transferring 10's (100's) of millions of dollars worth of bitcoins around in one tx ... screenshots or it didn't happen

certainly not transmittable.

Just search this thread for "looks heavy"

notme,

would you please find me my favorite picture of miscreanity struggling to move that huge gold rock again?  it nicely illustrates just how illiquid gold is.  thanks.

i always misplace that thing...

i expect a bounce

Collapsed UP?

Thank God I sold all my PMs.

Also, the puts I have on SLW have exploded in the last two weeks.  


Edit: thanks to Cypherdoc, with his epic thread "Gold I smell trap" that made me rethink my position on PMs.

Oh, I thought you meant literally. 

Commodities....

Where?

The blood in the markets is accelerating....be greedy remember when it gets really really bad.

must be some sort of subliminal capitulation 

Miners are the only ones who will hedge their physical supply before they go in the market and actually sell it. This is a general commodity notion used to ensure that volatility does not affect profit and numbers are known ahead of the sale. Problem is that now most of the trades are not backed at all and are leveraged. JPM doesn't even have gold backing for its multi-billion dollar short sales of paper gold, its inventories are depleted yet it continues to put on firesales with no backing. Another issue is that before you actually intend to hedge your physical supply you must let the broker know you intend to hedge based on physical supply so you are matched against someone who wants to buy physically, or the bank is forced to take physical delivery if they are the market maker. This is kind of odd behaviour for a market which will puts extra checks in to the trader who owns the gold so they can make special arrangements for this person when the market was created for intentions of buying/selling physical commodities and not "paper" commodities. The "paper" commodities is said to create liquidity allowing physical to get better pricing, but to me is doesn't add up, as alot of hte times a big order is front-ran as soon ppl find out there is phyiscal order they become the market maker for that order making profit by placing a trade as the order is being placed.

If a big trader or company comes in to the market buying with intentions of physical delivery, more than what the inventory exists for that bank then this where the problem lies. The fact that ppl have been requesting their gold inventories and yet jpm still behaves like a 5 yr old child baffles me... but then again they have the gov't in their back pocket so there's nothing to see move along. I love the lassiez-faire attitude that these criminals have knowing that nothign will be done and even the fact that nothing is wrong.

Passing a claim on to the next trader is a hot potato scenario. Redeeming  those claims for physical would be like a bank calling in outstanding loans.

Any other asset would simply stick the holder with an item that would have to be traded, i.e. less liquid. Gold is effectively cash when other forms of money fail to maintain that purpose.

While the dollar still works fine for the average person, it is not for kings (institutional class entities). Gold is returning to a metric of value among the largest pools of wealth, and therefore increased liquidity.

Edit: corrected hot potato reference.

To clarify my question, do you mean it is wise to go long on gold? And for how long?