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filipo

filipo
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  • 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, 2014. 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, 2014. 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, 2014. 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, 2014. 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, 2014. 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, 2014. 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, 2014. 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, 2014. 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, 2014. 08:58 AM | 8 Likes Like |Link to Comment
  • There Are Strange Things Happening With The Gold Held At The Gold ETFs [View article]
    machia,
    "I look at PMs simply as a recyclable commodity and not much more... which is why I particularly enjoy ridiculing those who lust after it "

    Go ridicule your own Central Bank than. They own 8,133 tonnes of the stuff.
    Nov 10, 2014. 02:59 AM | 6 Likes Like |Link to Comment
  • There Are Strange Things Happening With The Gold Held At The Gold ETFs [View article]
    charles,
    Remains to be seen.
    You got an idea what their average buying price is ?
    If tomorrow they break Comex they'll get a nice ROI moreover.
    Nov 9, 2014. 06:11 PM | 3 Likes Like |Link to Comment
  • There Are Strange Things Happening With The Gold Held At The Gold ETFs [View article]
    fish,
    Lol:
    http://bit.ly/1w63jmg

    UBS hasn't admitted, they settled which is a semantic difference.

    Yes, that huge difference of high ETF silver reserves and low silver - f.i. Chinese - stockpile is quite striking.
    In a way it doesn't surprise me: it says Chinese corporates expect they'll need less silver in the near future while investors in the West think (hope) China will keep on buying silver in huge amounts. These investors however forget that silver is only an Industrial commodity without any monetary function.
    I never understood why people collect these silver eagles. Such a waste of money !
    Nov 9, 2014. 06:08 PM | Likes Like |Link to Comment
  • Gold Bug Psychology Must Be Neutered [View article]
    fish,
    The 5% rule doesn't make much sense.
    Suppose you only have $10K of savings, so you're supposed to put $500 into gold ? That would turn out to be a very expensive investment since you have so little other asset building opportunities. I think you have interest to put all of your capital at work and build more assets by investing wisely in equities.
    However, suppose you have $1mn of savings, you're only supposed to invest $50K in gold ? I think you have interest to put half of your savings into gold then, $500K. Over here, you're considered a criminal if you keep over $500mn on your bank account.
    The % of investing in gold has to be regarded as a parabolic curve, much like the heat that your motorcycle's engine produces when gaining speed, remember ? :)
    Nov 9, 2014. 04:52 PM | 1 Like Like |Link to Comment
  • So Undervalued, They're Golden [View article]
    Dan,
    In that conversation I wasn't taking any side.
    Just mentioned it. Personally I'm not such a believer in monetary easing as the solution to the economic problems except in 2008 when it was really necessary to save us from systemic collapse.
    I think in that regard Hubbard is right saying that a well directed tax policy can do more good. However Hubbard has a very very very bad reputation so I wouldn't go as far as to back him.

    The whole world evolves towards a situation that is very positive for the futore POG.
    Regards
    Nov 9, 2014. 04:38 PM | Likes Like |Link to Comment
  • There Are Strange Things Happening With The Gold Held At The Gold ETFs [View article]
    Hebba,
    Excellent article, exactly my point: the gold ETF's are running dry on China - India... and silver isn't half so interesting as gold is.
    Nov 9, 2014. 04:28 PM | 1 Like Like |Link to Comment
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