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mementos of an Ancient Age.
mementos of an Ancient Age.
True, true, just like Yap stone money. "Yapbug" and his stash...
Topic: Gold collapsing. Bitcoin UP. - page 1319. (Read 2032272 times)
True, true, just like Yap stone money. "Yapbug" and his stash...
so i just called my local gold coin dealer and asked the price of a 1 oz Krug.
answer: $1450 which is a 4% premium over the current spot of $1394. i then asked what is their usual premium markup and she said it varies anywhere from 3-4.5% which has not varied for many years. nothing unusual.
but i'm willing to accept your supposition miscreanity and sell you my remaining gold coins for a mere $2500/oz which is a great deal given what you supposedly believe.
answer: $1450 which is a 4% premium over the current spot of $1394. i then asked what is their usual premium markup and she said it varies anywhere from 3-4.5% which has not varied for many years. nothing unusual.
but i'm willing to accept your supposition miscreanity and sell you my remaining gold coins for a mere $2500/oz which is a great deal given what you supposedly believe.
Why do you still own gold coins?
very small # compared to before.
mementos of an Ancient Age.
so i just called my local gold coin dealer and asked the price of a 1 oz Krug.
answer: $1450 which is a 4% premium over the current spot of $1394. i then asked what is their usual premium markup and she said it varies anywhere from 3-4.5% which has not varied for many years. nothing unusual.
but i'm willing to accept your supposition miscreanity and sell you my remaining gold coins for a mere $2500/oz which is a great deal given what you supposedly believe.
answer: $1450 which is a 4% premium over the current spot of $1394. i then asked what is their usual premium markup and she said it varies anywhere from 3-4.5% which has not varied for many years. nothing unusual.
but i'm willing to accept your supposition miscreanity and sell you my remaining gold coins for a mere $2500/oz which is a great deal given what you supposedly believe.
Why do you still own gold coins?
answer: $1450 which is a 4% premium over the current spot of $1394. i then asked what is their usual premium markup and she said it varies anywhere from 3-4.5% which has not varied for many years. nothing unusual.
Oh how sad to think just a few months ago I cashed out of Bitcoin at around an average of $12 to buy gold coins, After reading this tread religiously. (Bitcoin hasn't crashed, its my commons sense investing that has crashed)
Silverbox Update:
Gold: -6%
Bitcoin: +71%
Diff: +77% advantage Bitcoin
It's a little silly to gloat about these most recent movements. They're going to be corrected. This simply can't last.Gold: -6%
Bitcoin: +71%
Diff: +77% advantage Bitcoin
The pin that tiped the scale @ about $9/BTC
so i just called my local gold coin dealer and asked the price of a 1 oz Krug.
answer: $1450 which is a 4% premium over the current spot of $1394. i then asked what is their usual premium markup and she said it varies anywhere from 3-4.5% which has not varied for many years. nothing unusual.
but i'm willing to accept your supposition miscreanity and sell you my remaining gold coins for a mere $2500/oz which is a great deal given what you supposedly believe.
answer: $1450 which is a 4% premium over the current spot of $1394. i then asked what is their usual premium markup and she said it varies anywhere from 3-4.5% which has not varied for many years. nothing unusual.
but i'm willing to accept your supposition miscreanity and sell you my remaining gold coins for a mere $2500/oz which is a great deal given what you supposedly believe.
yes, it was the paper gold that contributed to the drive into the $1923 top in Aug 2011. USD's were leveraged into paper gold and that is now reversing.
Paper prices reflect demand for the underlying asset. Expectation of actualization should physical be requested is the basis for acceptance of paper trading. Since ABN AMRO defaulted, that acceptance of paper is being rejected - it's now physical or nothing.
Result:
Paper trading for gold will be based on the value of paper. Physical metal will be valued independently.
If paper will be traded for physical on exchanges, it will be on a cash basis as Jim Sinclair has stated - no leverage will be permitted. If the west can continue the market charade and obscure the purpose of holding real assets like gold, the paper price may still plummet further rather than retaining or even strengthening the connection.
So yes, leverage into paper gold is unwinding and that price may continue falling.
If miscreanity were correct we would be seeing a divergence between COMEX and London Fix—which is totally not happening.
Those are both paper gold prices. Paper does not diverge from paper.
Correct, until it does. But it is not right now.
If miscreanity were correct we would be seeing a divergence between COMEX and London Fix—which is totally not happening.
Those are both paper gold prices. Paper does not diverge from paper.
Demand goes down:
Supply goes up:
Dur.
It was paper trading alone that stove off this inevitability. There is yet a long way to go to mid 1990's levels.
Supply goes up:
Dur.
It was paper trading alone that stove off this inevitability. There is yet a long way to go to mid 1990's levels.
1. Where is the investment demand in that picture?
2. If gold were to go down to mid-90s levels then the gold production would fall to almost zero as it wouldn't be profitable to mine gold. So that's about 95 million ounces of gold supply gone.
It was paper trading alone that stove off this inevitability. There is yet a long way to go to mid 1990's levels.
yes, it was the paper gold that contributed to the drive into the $1923 top in Aug 2011. USD's were leveraged into paper gold and that is now reversing.
this is what miscreanity has ass backwards.
misreality,
you keep saying "it iz tim". either you're lying to me or you're an idiot. which is it?:
you keep saying "it iz tim". either you're lying to me or you're an idiot. which is it?:
A while back, I stated that I would no longer offer time estimates. The "markets" have been destroyed and offer no ability of price discovery now. I also had said that a dollar spike with no correction before consolidation, combined with a commodity collapse (esp. gold), would indicate paper/physical separation; general lack of dollar support in terms of real assets.
I do like the ad hominem, though. You'll end up eating your words regarding gold. Maybe you'll donate some of your BTC to a worthwhile organization when it happens.
The price for gold will surely go down rapidly as the divorce from paper to physical occurs. Are you saying that the price will rise even in excess of where it is now even with the split? I'm not so sure.
When the actual "USD/$1 face" price of 90% circulated coins started to go up, while the paper silver was crashing, in Sept. 14-16, 2008, I had less than a week before the friendly SWAT team from Finnish government raided my home and offices, confiscating almost all gold and silver that they could find. When they gave them back several months later, the "paper discount" had already disappeared.
Guys, if you want to buy silver right now, consider buying paper! Last time it gave a windfall to those who dared to buy at $9/"oz" in 2008. Of course there is a risk that it will not be honored, but last time it was. Don't think "this time it is different". Have your physical stash in a safe place, but don't run into the already thin market to buy more - in the event that COMEX defaults, your present stash will be more than enough of an insurance.
misreality,
you keep saying "it iz tim". either you're lying to me or you're an idiot. which is it?:
you keep saying "it iz tim". either you're lying to me or you're an idiot. which is it?:
A while back, I stated that I would no longer offer time estimates. The "markets" have been destroyed and offer no ability of price discovery now. I also had said that a dollar spike with no correction before consolidation, combined with a commodity collapse (esp. gold), would indicate paper/physical separation; general lack of dollar support in terms of real assets.
I do like the ad hominem, though. You'll end up eating your words regarding gold. Maybe you'll donate some of your BTC to a worthwhile organization when it happens.
The price for gold will surely go down rapidly as the divorce from paper to physical occurs. Are you saying that the price will rise even in excess of where it is now even with the split? I'm not so sure.
Gold collapsing. Bitcoin UP.
misreality,
you keep saying "it iz tim". either you're lying to me or you're an idiot. which is it?:
you keep saying "it iz tim". either you're lying to me or you're an idiot. which is it?:
A while back, I stated that I would no longer offer time estimates. The "markets" have been destroyed and offer no ability of price discovery now. I also had said that a dollar spike with no correction before consolidation, combined with a commodity collapse (esp. gold), would indicate paper/physical separation; general lack of dollar support in terms of real assets.
I do like the ad hominem, though. You'll end up eating your words regarding gold. Maybe you'll donate some of your BTC to a worthwhile organization when it happens.
misreality,
you keep saying "it iz tim". either you're lying to me or you're an idiot. which is it?:
you keep saying "it iz tim". either you're lying to me or you're an idiot. which is it?:
I signal this article that seems important, but I'm unable to judge how trustworthy it may be:
Force Majeure Was the End Game All Along, COMEX Will Default in the Next Week!
Force Majeure Was the End Game All Along, COMEX Will Default in the Next Week!
What was the basis for this? How does the author know this will happen?
Theoretically, forced settlement at a fixed price is an ideal outcome for any naked short selling campaign. From this point of view the proposed scenario makes perfect sense. Not sure about the timing however.
The are very good reasons why true gold bugs only accept physical gold. This is one of those reasons.
This is also why Bitcoiners shall control their own bitcoins and do not trust any third parties such as exchanges, pools, online wallets with it for any larger amounts and for any longer than it is absolutely necessary.
In 2008 there already was a default in silver. An Indian exchange forcibly paid spot+6% on the contract holders. It was about as blatant as the Cyprus deal (where no effort to pressure the debtors of the bank was taken, instead the creditors were erased). I mean, silver is in no way scarce, and the international shipping is far less than 6%. If there was opportunity to get silver at the fake spot price, surely the exchange would rather have delivered than defaulted, don't you think so??
Bitcoin is the only reason why I am not shortsqueezing the silver market right now..
At least, with such a statement, we should know if he's right quite soon.
I understand that the price may be manipulated so that short holders can sell these shorts, but the author made some bold claims that the COMEX won't satisfy "delivery" (Yet I remember a lot of the metals are only transferred by ownership, stored in warehouses and not actually delivered) starting next week.
I signal this article that seems important, but I'm unable to judge how trustworthy it may be:
Force Majeure Was the End Game All Along, COMEX Will Default in the Next Week!
Force Majeure Was the End Game All Along, COMEX Will Default in the Next Week!
What was the basis for this? How does the author know this will happen?
I signal this article that seems important, but I'm unable to judge how trustworthy it may be:
Force Majeure Was the End Game All Along, COMEX Will Default in the Next Week!
Force Majeure Was the End Game All Along, COMEX Will Default in the Next Week!
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