Topic: Gold collapsing. Bitcoin UP. - page 1536. (Read 2032281 times)

Too bad he's not smart enough to realize all they did was kick the can down the road while reducing their kicking power.  Oh well, he'll learn his lesson soon enough.

Except that Bitcoin isn't New Coke, it's Red Bull. 

Btw, did u guys see this:  http://www.technologyreview.com/business/39962/

Summers says Bitcoin is innovative.  No criticisms whatsoever.

This guy is one of the founding fathers of our current present day crisis.  right up there with Rubin, Greenspan, and Bernanke.  He is generally associated with GibsonsParadox for those of you who believe in naked gold shorting.

What Summers says about Bitcoin is extraordinary in light of his background.

I've been reading Arensberg from well before his site had advertising. The record stands for itself, having recommended selling of the very shares that are advertised on the site at or near peaks. Yes, always question the integrity of a source, but be equally wary of generic assumptions - i.e. do due diligence

anyone who has that many gold mining companies advertising on his site has to be suspect.


for one thing, Bitcoin would have to fail.  don't laugh.  its holding steady in the $4's with all other fiat currencies mired around parity with the USD.  and i do believe in a future digital currency.

also yes, the gold and silver price would have to turn up but especially the miners who i think are leading the price down.

its complicated but i would also have to see a certain market structure where the relationships of stocks, commodities, and bonds support the strength in pm's with the USD going off the cliff.  none of that exists right now.

A vote for Gene Arensberg of the Got Gold Report, particularly with his latest prognostication on the miners.

@cypherdoc: what would change your current perspective on the precious metals? I think you mentioned the ~$1900 high as one target. Above there, will you be calling for deflation to take hold again, ending the gold bull?

i have 3 ppl who have expressed interest so far.

come on you gold bulls; you should subscribe thus encouraging me to go quiet!

There is more to technical analysis than Elliot Waves...

I keep a general lookout but also regularly read Ed Steer's Gold & Silver daily: http://www.caseyresearch.com/gsd/edition/turkey-once-again-proves-gold-first-and-foremost-money

Convincing a fair fraction of BTC holder to switch to PMs would increase the of PMs by approximately $000.00.  OTOH, convincing people to switch from PMs to Bitcoin could explode the value of BTC.

Of course I have no idea if that is part of the OP's motivation, but if so I wish him the best of luck in the effort as it would serve me very well.

I read Turd from time to time.

He's maybe a bit too bullish, but thats ok

http://www.tfmetalsreport.com/

Martenson put out another interesting thing recently which I ran across on zerohedge.  When the trend line in his chart is seriously violated, I'll start to feel like there may be some change to the forces shaping the valuation of PMs.  Until then I'm not planning to 'jump off the bridge' with anyone, and certainly not with anyone I've run across on this forum.

  http://www.zerohedge.com/news/chris-martenson-explains-how-gold-manipulated-and-why-thats-okay

Martenson's thinking mirrors my own (or vice versa) to a higher degree than almost anyone else in the philosophical space and I only ran across his work relatively recently.

That's because gold/silver crowd care, many of them think investing in the metals is like building an escape bridge, they don't want to see it being destroyed.

I still find it hard to comprehend how a gold/silver investor can change his investment strategy in such a drastic way -- going from long to short -- seemingly purely based on some  superficial reasons.

I have to ask, what prompted you investing in gold/silver between 2005~2007? I am sure it was not technical, because EW master Mr. Prechter has always been very bearish on gold ever since it crossed $450/oz mark.

If you based on your decision on fundamentals, what were they? and what have changed?

Matthew, i'm not looking for your praise.  it doesn't have to crash as long as it keeps going in the direction i think it will.  you trolled me hard in the other thread too.  and thats ok.  you've got alot of company here

you guys should hope my subscription service takes off so i can take my views private away from this public forum.  there's nothing that heats up ppls ire more than an anti gold/silver thread i've found.  to invest successfully however one needs to be dispassionate and not take things for granted.  there are no givens.

but this thread isn't just about gold/silver.  its about making the right calls in the general economy of stocks, bonds, commodities and Bitcoin as well and planning for the future.  investing in gold and Bitcoin require an understanding of how those assets work too.

i've got a few of you interested already.  thats plenty for me as all i care about is being recognized for my work. 

the service will be 2.5 btc's per month and i'll start it up 4/1 on Sunday.  for those interested pm me your email and i'll send everyone individual addresses to make your pmt. 

its not a big deal.  investing is a hobby for me that i spend a great deal of time on and enjoy and i have enough wealth accumulated where i just like the challenge of trying to get it right.

It takes a long time to turn a tanker.  The gold market is the largest tanker one can try to ride.

You'll receive praise from me if and only if the bull market for gold actually ends and gold crashes significantly as you state it will. It hasn't happened yet. We will see in hindsight. What we've seen so far is massive volatility and no crash that would have made gold an excellent short trade from the 9th of August.

Maybe it turns out you have been over 7+ months late for this crash of yours? Would you like to give a time span for your prediction gold will crash? Also some rough price target instead of vague terms would put no one in confusion. I seem to remember you were expecting gold to go below $1000? My memory is terrible, sorry.

read the post carefully.  at the time of that post i had sold my bullion at the local coin dealer.

i also put in place short positions using DZZ and ZSL which are the double lever bear etf's on the gold price.  one can do both you know.

Good for you.
Let's just wait and see...

And in the meantime, there is no force in the universe that would convince me to turn my life savings into a paper money.
I'd rather turn them into bitcoins.. but PMs are still more reliable than bitcoin - you can touch them, trade without electricity and they have been well tested as currencies for ages.
While our current currencies, all around the world, are being sucked into a vortex of their own "value", which is in fact just a big black hole of debt...
If you don't understand this inevitable, the only possible end, how much can you predict tomorrow?

but,
https://bitcointalksearch.org/topic/m.443129

How did you pull that off? In my mind there's only one group of people that can have a "short position in bullion" -- miners. All other shorts are just paper shorts.

ohooh, some smart guy and CNBC finally got this figured out  

Gold Price ‘Too Low’: Goldman Sachs