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Gold, Discussion
mullokintyre
post Posted: Jan 12 2021, 10:34 PM
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I noted that Germany's largest lender, Duetsch Bank will pay $120 odd million to avoid US prosecution on charges it "engaged in foreign bribery schemes and manipulated precious metals markets".

Every time I hear some US govt rep bleat bout the currency manipulators in other countries, I laughs me head orf.
The US manipulates everything financial, and now they want to manipulate everything digital.
Gold has lost over 200 bucks and silver over 2 bucks since last Friday.
So what financial or economic news might cause such a thing?

Biden has already stated that there will be at leat two more stimulus packages, and given the financial baggage slung on the last one to appease the special interests groups, the printing presses will be going over time.
Initial Jobless claims sill going up, the November Trade deficit at 68 billion was 5 bill higher than October.
The Fed were talking about more QE less than a month ago, yet Fed govenors Clarida and Evans both spoke this week about the timelines for tapering QE. The FED have put out bullshit forecasts about no rate hikes into 2024, but only complete suckers will believe that.
Average hourly earnings rose rose from 03% in November to 0.8% in December. That will only feed into inflation, which is of course what the FED really wants.
So what causes these sudden losses when all the financial data points the other way?
The great manipulators strike again.

Anyone who falls for the leftist crap about the dems caring for the poor should consider this:
With all the demands for lockdowns, stay at homes, no dining out, who suffers the most? It ain't privileged white elites. It is estimated that about 40% of all jobs are in the low paid hospitality/ service industry. Guess who inhabits those jpbs, mostly poorly educated non white citizens, both legal and questionable. And guess who loses out in the loss of jobs?
Big business elites and the well paid public officers who inhabit the federal, state and local governments demand everyone else suffer, but not them. They can work from home, self isolate , lecture everyone else, and not lose a dime in the process. The rich get richer and the poor get poorer, no matter who is in the Whitehouse, Congress, or senate.

Mick



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nipper
post Posted: Jan 11 2021, 07:23 PM
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Gold dropped

I am glad that Bitcoin lost 12% (from a recent high of 40,000 ... I will give it that). Reaffirms the thesis.
... also glad that I hesitated to go back in, having cashed in my insurance late last year.



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
Mags
post Posted: Jan 5 2021, 09:21 AM
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In Reply To: mullokintyre's post @ Jan 5 2021, 07:15 AM

QUOTE
it seems that Joe Public is a little smarter than the experts give them credit for.


Very much so.
Much of what the media report and portray is total BS, statistics manipulated to suit a narrative: Usually to make the boomers look great and the generations around them worse.
The youth of today, in general, are far more street smart and conservative than the media will ever tell you. Yes, there are rat bags: But mostly the kids 20+ actually really impress me, far more than their flashy, kim kardashian mimicking parents.



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mullokintyre
post Posted: Jan 5 2021, 07:15 AM
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Should be even better today.
AUD fell against the USD, but precious metals still went up.
Gold up $70 in AUD, and silver up nearly a buck to go above $35 AUD.
And from Kitco News comes the stats that in 2020, there was a 455% increase in gold coin sales from US mint,
Sales of silver coins were up a mere 100%.
it seems that Joe Public is a little smarter than the experts give them credit for.
Mick



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mullokintyre
post Posted: Jan 4 2021, 10:19 AM
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In Reply To: mullokintyre's post @ Dec 21 2020, 12:40 PM

Gold jumped through USD1900, silver about to hit USD$27.
Good day for me.
Mick




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mullokintyre
post Posted: Dec 21 2020, 12:40 PM
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In Reply To: mullokintyre's post @ Dec 15 2020, 09:34 AM

Gold approaching 2500 in AUD once again, Silver having a boost and now approaching USD26.
No reason for this run not to keep right on going.
Mick



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mullokintyre
post Posted: Dec 15 2020, 09:34 AM
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Started buying up gold stocks again this morning.
Most of my watched goldies are down over 35%.
The reasons gold took off have not changed, indeed they have probably grown stronger.
Since mid 2019 when things got really strong, more CB's (including Australia) have gone down the QE route, and those who had already done so, piled even further debt on their economy.
The us is heading for further civil unrest, China is flexing its muscles, The EU is going to screw the UK, and of course more and more countries are going down the climate emergency path.
And of course we still have that pesky corona virus making life difficult.
Gold and its producers/explorers may well drop further, but in the long run it will go up.
Mick




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mullokintyre
post Posted: Dec 8 2020, 08:11 PM
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Ed steer, like Chuck Butler, Ed Casey and quite a few others, have highlighted the manipulation of the Precious metals market by the "big 4" commercial traders.
In his latest blog (found HERE) ed steer highlights the fact that the net short positions in Gold is equivalent to 90 days of world production.
In the case of Silver, its 160 days.
How is it that this level of production can be sold short before the product is even out of the ground??
They must be so confident of an engineered takedown.
All this while virtually all central banks are flooding their markets with liquidity.
These are strange times indeed.
Mick



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bg99
post Posted: Nov 21 2020, 04:53 PM
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In Reply To: mullokintyre's post @ Nov 18 2020, 10:24 PM

Charts are looking very scary for gold stocks PRU, SLR, RMS, EVN are all facing a 50-200 dma death cross ... SBM has already had its cross.Not looking good for the short term, am still a gold bull for the long term but not holding any for the time being


 
mullokintyre
post Posted: Nov 18 2020, 10:24 PM
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In Reply To: nipper's post @ Nov 18 2020, 09:38 PM

You may be right.
I wrote this in Feb 09 2009 in this forum

QUOTE
The perth Mint has gold certificates called PMG's , issued by its subsidiary, Gold Corporation. Hidden in one of its reports is the following Gem:

QUOTE


Gold Corporation continues to be the owner of the gold bullion backing the PMG [ie, certificate]. However,
even though Gold Corporation holds gold bullion in order to back the PMGs, it is not required
to do so and does not hold gold bullion for the benefit of the Holder."

QUOTE



The PMG's are a call Warrant, and "backed by the WA Government". However, if there is no gold to buy, tough titties.


I was thinking of the gold certs rather than the newer GOLD ETF.
My appologies.
Mick



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