Gold bull market started 2001 and most probable end for it is mania. Parabolic spike up, especially in gold bull markets. This is normal correction inside secular bull market.
These highly successful investors (some are billionaires) are big buyers of gold. Mainly physical(just to name some): Frank Giustra Jim Rogers George Soros Michael Burry Paul Tudor Jones Catherine Austin Fitts Doug Casey David Einhorn John Paulson You can send all of them email and remember how stupid they are. And what comes to greshmans law - people prefer gold more than FIAT at the moment - how suprising. (6 month is almost going also negative.) http://www.lbma.org.uk/pages/index.cfm?page_id=55&show=2013
Since the market is not based on past performance or valuation, it's as legit to say that the correction of gold / silver price is when spot is low and the manipulation is when spot is high as it is to claim the other way around. To me, it's telling of who is smart or not when people talk about market manipulation and correction and try to say they know one way or another. As for permabull, to me it means someone who is always bullish on the metals, short, mid, and long term. It's those who in the early part of 2013 as the spot was falling kept spewing the silver and gold to the moon tomorrow rhetoric. Permabulls are either snake oil salesmen who have a significant vested interest people buying more metal / coins or people who have been fooled by the snake oil salesmen and are simply regurgitating the hype. On the other hand, there are realists like myself who know that there can be periods of time (months or even years) when the market is bearish short to mid term on a commodity like metals. .
I have not talked about market manipulation. You should look historic bubbles. They have behaved again and again and again like we have seen this secular gold bull market. Some of those highly successful investors see this also as secular bull market. For example: Jim Rogers, Frank Giustra and Doug Casey (to name some). So, what is your opinion, are these investors smart or not smart? I just said: This is normal correction inside secular bull market. That is the way secular bull markets have done again and again and again through the history.
Seems that Pirocco dont want to answer this? why? So I answer. I am not going to do exact calculations, but maybe central banks could lease that amount of gold to the market and they could keep price where it is. But what comes to silver market. Silver market is even more leveraged than gold market (above) and central banks dont have silver which they can lease, so if for example half of those who owns paper silver in paper would - do delivery/change paper to physical - tomorrow, would mean that there would not be physical silver for all of them for todays price. That means that Ryan is right about this argument: ...This is an important point: the silver market does not need any new "investors" for the price to go higher- it simply requires people holding paper silver (which is plentiful) to try to convert it into physical (which is scarce).... Or have I misunderstood something Pirocco?
A shiny sunny day with lotsa flowers bees and sunshine but we go inside. At 8 o'clock I sell you the monsterbox. At 9 o'clock I buy the monsterbox back from you. At 10 o'clock I sell you the monsterbox. At 11 o'clock I buy the monsterbox back from you. At 12 o'clock I sell you the monsterbox. At 13 o'clock I buy the monsterbox back from you. At 14 o'clock I sell you the monsterbox. At 15 o'clock I buy the monsterbox back from you. At 16 o'clock we drink a beer and we count the amount monsterboxes we traded, and the amount monsterboxes we brought with us. These are my counts: Amount boxes traded: 8 Amount boxes in the trading room: 1 What are your counts?
Wrong answer. What happens if people change half of those paper silver sertificates to real silver? It would affect the price of silver a lot, because there is not that kind of physical silver stock anywhere. That means that: Ryan: ...This is an important point: the silver market does not need any new "investors" for the price to go higher- it simply requires people holding paper silver (which is plentiful) to try to convert it into physical (which is scarce)....
And about this addendum specifically, obvious answer: those that bought 'paper' gold actually never wanted the gold in the first place, at the very least not at that price. Of course not. If they really wanted the gold, and really thought the price was a bottom, they would have just bought the gold already today, instead of a futures position. If they really wanted the gold, they wouldn't agree with "unallocated". Why are they then on the gold market? Again obvious answer: to churn out other peoples money by frontrunning them, key element: speed. It's easier to buy/dump a paper / electronic position, than to mess around with clumsy bars every month, week, day, hour, min and sec (high frequency trading).
4000 ounces daily trading volume, backed by 500 ounces. Nothing paper. Just repeated trades of the same silver. And in this example even everytime delivered. It is well possible that on a certain day we agree to not bring the monsterbox with us anymore, put it in the bank, and trade the ownership document 8 times. Otherwise we might have become Schwarzeneggers after a couple months.
Lol this dude is obsessed with getting and answer and WHY he is not getting one. Who gives a crap? You've exposed your arguments, what you believe in, thanks, cool. No one wants to read the same crap over and over again, so why don't you get on with your life and post some other topic.
OK, so tell me why gold is more preferred at the moment than FIAT? http://www.lbma.org.uk/pages/index.cfm?page_id=55&show=2013
Means there is 90 paper sertificates against one real gold bar. If half of these paper sertificates owners would sell paper sertificate to FIAT and then would buy physical gold, there wouldnt be that physical to buy anywhere for all of them. and I mean in whole market which is also OTC and options.Pirocco has been talking about comex all the time. OTC market and futures and options are 92xgreater than the underlying physical market.
Seems like he's not going to stop until everybody here admits they are wrong and agrees with him :lol:
Tell me why physical GOLD is more preferred at the moment than FIAT? http://www.lbma.org.uk/pages/index.cfm?page_id=55&show=2013
which means that Ryan is right: ...This is an important point: the silver market does not need any new "investors" for the price to go higher- it simply requires people holding paper silver (which is plentiful) to try to convert it into physical (which is scarce)....
