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filipo

filipo
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  • There Are Strange Things Happening With The Gold Held At The Gold ETFs [View article]
    mach,
    Maybe essential reading, but not essential adopting.
    Ron Paul is the wisest American politician and an outstandingly good man.
    Nov 11 10:55 PM | 5 Likes Like |Link to Comment
  • There Are Strange Things Happening With The Gold Held At The Gold ETFs [View article]
    New,
    According to the WGC statistics, CB's worldwide own 32,056.5 tonnes of gold.
    Total above ground reserves amount to ca. 180,000 tonnes.
    So CB's own 17.80% of all the world's gold.
    Your assessment that 17.80% would be the majority is mathematically wrong.
    You should reset your data.
    Nov 11 03:22 PM | 1 Like Like |Link to Comment
  • There Are Strange Things Happening With The Gold Held At The Gold ETFs [View article]
    New,
    I don't follow.
    Basically what you say is, since there are so many claims on physical gold that is not present in the ETF's vaults and in Comex vaults, the price of gold will collapse when these ETF's collapse, right ?

    To me it seems clear that if the future market and/or the ETF-system would collapse, the price of the underlying property would skyrocket since the contract holders would all claim their rights.
    Nov 11 02:50 PM | 2 Likes Like |Link to Comment
  • There Are Strange Things Happening With The Gold Held At The Gold ETFs [View article]
    fish,
    That is indeed the strategy that is being adopted, amazingly simple but very efficient.
    Nov 11 02:42 PM | 1 Like Like |Link to Comment
  • There Are Strange Things Happening With The Gold Held At The Gold ETFs [View article]
    Ernie,
    Shorting gold enables them to buy the physical stuff cheap on the global market.

    I don't think the US will default on their debt either, but they might at a certain point seriously consider to start inflating to get rid of the debts.

    Besides, if it is the Chinese who hold these huge shorts on Comex, they could consider this as a way of taking the US hostage.

    Maybe it's just a silly idea of mine and it's just the Fed who holds these large shorts.
    Anyway, whoever holds them, throws a lot of money at that initiative.
    Nov 11 03:25 AM | 2 Likes Like |Link to Comment
  • GLD: Please Do Not Overreact - Part 1 [View article]
    OK, got it, thanks for clarifying.
    Nov 10 04:39 PM | 1 Like Like |Link to Comment
  • Gold Bug Psychology Must Be Neutered [View article]
    Ernie,
    Exactly my thoughts.
    I consider the % of gold ownership in one's PF as a dynamic given, rather than as a static one.
    To me the 5% golden rule looks irrelevant.
    The % should not only depend on one's own level of capital, but also on the external circumstances, like political environment, economic outlook, taxes, alternative income, personal life expectancy and indeed one's own definition of "comfortable" existence....
    Nov 10 04:31 PM | 1 Like Like |Link to Comment
  • Gold Bug Psychology Must Be Neutered [View article]
    fish,
    "If all you got is $10k, you shouldnt be playing this game."
    I agree.

    "I'd say million and $50k sounds ok to me, to give up a half million in income productive assets seems weird to me."
    That's because you live in a country that still respects the law of property ownership. If you would be living in a socialist paradise where honestly earned capital and savings are regarded as suspect and subject to be seized or heavily taxed by property taxes that are about to be introduced, even that half a million should not be considered as enough.
    Since the dematerialization of stocks has been introduced, taxing authorities have a direct control on everyone's accounts. They know exactly at the penny how much each individual owns and since the State due to bad management is in dire situation, the temptation to use that knowledge is rather high.... hence polticians who hint at a property tax "to solve the problem of poverty".
    Nov 10 04:16 PM | Likes Like |Link to Comment
  • There Are Strange Things Happening With The Gold Held At The Gold ETFs [View article]
    einstein,
    What if:
    1/ The Chinese hedge their near $2Tr of US Treasuries by shorting gold contracts on Comex;
    2/ They know the US will have it exceedingly difficult to pay them back this debt.

    > if the US defaults on their debt
    < China can always default on their Comex obligations and refuse to deliver the gold that they bought by shorting.

    Just an idea that crossed my mind.......
    Nov 10 04:02 PM | Likes Like |Link to Comment
  • There Are Strange Things Happening With The Gold Held At The Gold ETFs [View article]
    New,
    In the long and interesting history of gold it wouldn't be the first and only time that the manipulators finally have to give in, forced by the events.
    If you throw a look at the number of shorting contracts that are at play on Comex, you may have an idea of the extreme lever that would start unraveling once these shorts get overwhelmed.
    Nov 10 03:56 PM | 1 Like Like |Link to Comment
  • There Are Strange Things Happening With The Gold Held At The Gold ETFs [View article]
    Thanks for your support, Last !
    Nov 10 03:48 PM | 1 Like Like |Link to Comment
  • GLD: Please Do Not Overreact - Part 2 [View article]
    I'll wait for that final lower low before adding a few ounces of gold. Don't want to spoil my average of $623/oz.
    Thanks Avi for the warning.
    Nov 10 03:23 PM | Likes Like |Link to Comment
  • GLD: Please Do Not Overreact - Part 1 [View article]
    Avi,
    One question remains after reading your once more highly interesting article.
    You say that external fundamental events do not affect equity markets. I reckon you consider global markets and not individual equities.
    I remember when the news spread that Enron, Lehman Br°s would go bankrupt, their shares reacted quite heavily on the news.
    Can you explain that a bit more into detail ?
    Nov 10 03:04 PM | Likes Like |Link to Comment
  • There Are Strange Things Happening With The Gold Held At The Gold ETFs [View article]
    David,
    "But is it really there, or is it all smoke and mirrors?"

    That is irrelevant when it comes to evaluating the value of the US CB gold holdings.
    The fact that they still account it as officially in loco means they're attached to it.
    Me too I have my doubts whether a big part of that stash might not be leased out, but that is here irrelevant. It's still in their books. The day they officially declare it's out of the books will be game-changer and only then will Mach get his point.
    But I see that day not coming, do you ? And hence Mach talks gibberish.
    Nov 10 09:03 AM | 5 Likes Like |Link to Comment
  • There Are Strange Things Happening With The Gold Held At The Gold ETFs [View article]
    mach,
    "Gold is a tiny fraction of its holdings."

    Are 71.6% a tiny fraction of its holdings ?
    Check facts before writing down nonsense, in this case check at the WGC website.
    Nov 10 08:58 AM | 8 Likes Like |Link to Comment
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