FoxV

Did the ECB Save COMEX from Gold Default?

tjhorton: "If governments are knowingly involved, what can you really do?"

buy physical Gold and don't play their games. The sooner people realize the importance of the age old wisdom "5-10% of savings should be in precious metals" the sooner the CB's and governments will be forced to admit that paper is only paper.

And here are other age old wisdoms that people seem to have forgotten "A bird in the hand is worth 2 in the bush" and "Don't count your chickens before they hatch". These old truths came about for a reason. It would be in everyone's best interest to consider those reasons and evaluate the situation they, and we, are in.

Attention Gold Bugs: Hyperinflation or Deflation?

"Cayman Island boy has a commendably similar plan. Expats and pirates will have the last laugh. "

Funny you should say that Bengunnscave. Its not just that Cayman islands are a tax free zone and allow anonymous banking, but its also because I'm a sailor that the Cayman islands would be a good spot for me.

However if the Pirate title fits, I'll take it.

Arr' ye landlubbin scallywags yur capt'n Bernanke's going down with his ship and he's takin all you with 'im. Lest y'all forget, paper doesn't float.

Give my regards to Davey Jones

Attention Gold Bugs: Hyperinflation or Deflation?

Deflation Ha! You guys are all sucking in the fumes of Paulson's Bazooka

Less we forget Bernanke's Helicopter speech "Deflation: why it won't happen here"

I guess there's some spacious argument that you can make money available but you can get people to borrow, but that's a complete load of bazooka shells.

The US (world's largest debtor nation) is not Japan (World's largest creditor nation), and the American people (wasteful and financially naive) are not the Japanese people (conservative and frugal).

As the unwashed masses beg desperately to be "Stimulated" by congress again, paulson is loading up his 9 Figure bazooka to take another shot at the banks. Mean while Bernanke is setting up the Federal Reserve to be the lender of last resort to everyone.

And when my 0% interest Federally guaranteed loan comes in. I'm going to go out and buy those nicely reduce 400oz bars of gold, while my money can still buy anything at all.

Oh ya, and then I'm going to by a nice property on the Cayman islands and default on that loan.

See ya, wouldn't want to be ya.

Ignore the Hype - Gold as Currency is Dead

although gold may have many issues but...

"Long live the dollar - and the full faith and credit of the U.S."

wow, that is either the bravest or most foolish statement I have ever seen. I guess only time and Ben will tell which it is.

Dollar and Gold Rise Simultaneously? Bring On the Flying Pigs

Its all part of the race to the bottom. And the pigs are flying with bags full of money to their Caribbean banking centers

New slogan for bankers: "Red Fed gives you wings"

Can Gold Be Suppressed Indefinitely?

be careful Sharky and not just because you'll be band again. because people who smugly brag about their success that has come from the actions of others will have a bitter pill to swallow when that support and success fail

The US now walks the road to Weimar, and although you may gloat about the wheelbarrows of cash you have to your friends, you won't be fooling us

Gold Futures' Dirty Secret (Part II)

I've heard talk of long delays with orders and deliveries, and Kitco certainly has put up a very big disclaimer. However my order from Kitco arrived within 1 week; granted it was small (1oz gold, 100oz silver)

How is everyone else's experience anyone having issues with buying or delivery

Precious Metals Manipulation: Lawyers Prepare for Battle

"Its impossible for me to believe the stupidity of those still buying gold and commodities. The bell has rung and the heavens have lit up. ITS OVER!!! "

Hey all you deflationist out there. I suggest you pull out those $100 bills you've been stuffing under your mattresses and take a close hard look at them. Notice anything different over the last twenty years.

I'll give you a clue, its in the serial numbers.

When the serial number on bars of gold start increasing at the same rate as the serial number on the $100USD, I'll call the gold bull over

Until then enjoy you're paper bonds, stocks and dollars. I guess at the end of the day you'll always have one advantage over us gold bugs. You can always burn your paper notes to keep warm in the winter.

Gold Price Conspiracy?

JBP Kitco is not the best place for bullion. They're shipping and insurance is high.

however as part of the over all theme of "YOU MUST NOT OWN GOLD" we pay provincial sales tax if we buy physical bullion in Ontario and you don't if you buy it in Quebec. That and Kitco is not far from me so if I ever find the shipping too much (are want to scream at them about delaying my order) I can always drive down and visit them. Montreal is a great city and they're right downtown.

btw, if you buy a Gold certificate from the bank, you do not have to pay the tax. Go figure

Gold Price Conspiracy?

as a construct of JPMorgan I would not trust GLD. I'm also Canadian, so dabbling in US equities gives me a currency risk (and if you think that's small potatoes, Keep in mind the CND did 20% against the USD in 6 months last year)

The problem with physical etfs and certificates is that at the end of the day all you have is a piece of paper who's only worth is your belief that it can be exchanged for something of value. If that's fine for you, then might as well hold currency. Its the same thing.

If you believe in gold then you probably have an inherent disbelief in the Paper debt train (wreck?) we live with. In which case, the only way to know that what you have is really worth what it is, is to have it in your hands. And this current shortage of physical metal during a price crash demonstrates that something is definitely up with the system

As for storage, I have it at home. Perhaps not the wisest thing to do, but I don't have much and its certainly not worth the risk to life and limb it would cost should somebody "activate" my 300psi, 42 tooth security system ;)

at the end of the day, just don't tell anybody you have it. When people break into a home they're looking for electronics and jewelry, not bullion

P.S.: so nobody tell anyone I keep my bars at home

Gold Price Conspiracy?

I don't know what the above is about but I did read the article, and just have to say Kitco is treading into a very dangerous place. They will take orders at a guaranteed price but they do not have to gold currently and will deliver at a future price.

So if we buy gold now at $800 (and silver, which I am doing) what happens if Kitco has to fill my order when the price is $900, $1000, or $2000. Kitco has a choice, take a hosing, or start raiding their pools.

Now there is a chance that gold will go down, but that is very unlikely. When India, China, and the middle east get a whiff of this supply crunch, they'll shoot gold to the moon, and the resulting short covering rally will send it to Pluto.

I was always suspecting big things from China to happen after the olympics. Now I understand what it will be. Buy physical metal while you can because pretty soon everyone is going to see just how much paper is worth really worth compared to gold

Remember Bird in the Hand is worth much more than 2 in the bush.

You Can Get on the Gold Train and Ride the Dollar

And add to that, the US mint just suspend Gold Eagle sales. (won't provide a link because every time I do, by post gets yanked)

So first Silver, now Gold Eagles. hmm, raises many questions doesn't it. But I'll side step those and just mention, we now have crashing prices coinciding with shortages.

This is what is known as a "Back up the truck" signal. Don't wait too long to bottom feed. The snap back from this dollar foolishness is going to be astounding.

You Can Get on the Gold Train and Ride the Dollar

Shorting gold two weeks before the time it traditionally rises (some times a lot) Nice timing. Find a dollar positive play if you wish, but betting on gold going down in September is pure folly.

All this talk of technicals, but no mention of why the USD has spiked (in a completely unnatural manner) recently. The ECB just went out and bought a wackload of USD. Why, Currency manipulation to give a cover for more interest rate cuts.

There are is so much bad paper out there, bank write downs are heading into the multi trillions (and this is without considering the derivatives fiasco). The Fed funds rate is going to 0%. Bernanke is going to throw the USD under the bus.

So ride the US Dollar at your own peril.

Gold (and Gartman) Haunting Some Investors

People are whistling dixie if they think the gold boom is over. There is multiples more bad credit out there we've seen so far still to fail. Sub-prime was just a taste of the pain to come. Europe and UK is only now getting into the picture

Right now we're in the Olympic glow, but that means just two more weeks left of the Chinese getting pushed around by Hank and Ben. When the torch goes out, the cloves come off.

Is the Price of Gold Artificially Depressed?

JBP on the surface one share of GLD equals 1/11th of an ounce of gold in their storage. However underneath the surface in the prospectus is a lot of strange statements about what they mean by "gold in their storage"

Could be tinfoil hat stuff, could be legitimate. In the end I don't really know,only JPMorgan does. And its because of that "I don't know" part that I always say if you want to buy Precious metals as a long term investment, buy physical. Its the only way you'll know what you actually have

If you want to buy short term to flip on the swings buy the stocks

As for the Confiscation issue, I'm Canadian, and so far I don't have to worry about it. As for you Americans, I guess it comes down to how you feel about it. A possible alternative is off shore stuff like Buillion Vault account (UK), or Kitco Pools (CAN). But there are Patriot Act issues with this as well so it all comes down to how much your trust your government