What A Confidential 1974 Memo To Paul Volcker Reveals About America's True Views On Gold, Reserve Currency And "PetroGold" Note it says "PetroGold"? Like most PM hoarders, I have read untold various manipulation editorials and theory's, mostly leaving me "lost in space" and unsure which article was correct, at times wondering even if there was any manipulation. No hard facts had really be provided, though Ed Steer from Casey Research sure came mighty close! Well here are the facts, and the document can be downloaded from the link provided. The "Conspiracy Theory" has now become fact! http://www.zerohedge.com/news/2013-...r-reveals-about-americas-true-views-gold-rese
This is 40 year old news.....as for the manipulation, it is hard to argue that they were successful because within 6 years of this exchange, gold had risen nearly 30 fold....... They must be very shitty manipulators....in fact I hope they are still around because we need that kind of manipulation once more to get things going in the upward direction..
u're wasting your time here mate. unfortunately this forum is now riddled with mainstream ignoramus's who believe that gold and silver are fair valued and that prices are driven soley by normal market forces. :lol: Bunch of weak hands ... throwing their hands up in despair just because the Fed has managed to con the world for a few years longer than was originally thought possible. Weak hands and even weaker minds :lol:
During the great bull run of the 1970s, Gold actually had a correction for a few years from late 1974 @ $200 to a July 1976 low of roughly $100, before steadily increasing again (punching through the all time high of $200 in '78) until it went bananas by '79. The fundamental outlook for metals can stay the same (providing the Fed doesn't taper) while the market corrects downwards in the short term. The bull run in Gold that we saw from the start of the 2000s to 2012 was frankly due for it. If we are to use the 70s as a guide, Gold could still potentially fall to $900-$1000 based upon a 50% correction as we saw in 1976 before we break through the nominal high of $1900 at a later date. Using information 40 years old like this is highly speculative, and I know the price is going to be hugely influenced by Fed policy in the coming 6 months.
'before we break $1900' Who is 'we'? I think those that joined that 'we' some year ago, became wiser, and exited that 'we'. Who is willing here to pay again $1900 for an ounce gold? The 1970-1980 story was a high general price inflation story. What else was different back then? It's gonna need clear & present danger for many bank accounts / deposits, in order to make enough willing to pay again $1900. Or an outbreak of high general price inflation. And central banks added about 1400 tonnes gold since and including 2011. So they have now 1400 tonnes extra gold ready to sell; like they did during the 1980-2007 years. And look at the extra silver 'investment' stockpiles since 2007-2008: about a world annual supply, if not more. I see my silver as something to be sure of in own hands / own control. But if I'm realistic, I doubt that I'm gonna be able to buy back what I produced. To achieve that I should have bought in 2008 instead of 2011. But I can compensate in a degree: by continuing to buy silver at lower prices, instead of being disappointed / pessimism / etc and keeping euros on bank account. Andorra Eagle kilocoins next target! The lower the price the better. I'll see over some years / decades and some silver sales, what my silver story was compared to a bank account. That's future. For now, I don't care, just picking up the bargains in the middle of pessimistic crowds.
:lol: Good one! Yeah, it sure does take a weak mind to look at the market objectively, filter all the anonymous internet permabull shyte, concede the decision to buy when you did may have been wrong, etc. :lol: Only strong minds can close their eyes and keep telling themselves repeatedly what they need to hear to make them feel better about their stack....
I think their is a fair chance of downward pressure being put on PM prices by the bankerment in order to keep cash king, especially now with the issues facing cash and debt. but it doesn't stop me buying it as I figure it's not a maintainable practice. With silver so widely used and not the supply to meet it in sight it's only a matter of time.. something I have plenty of.. I guess I base a fair part of my thoughts on Bill Murray, of all the net hacks he seems the most logical ;-)
Just to be clear - are you saying that Precious metals (gold and silver) prices will not surpass previous highs within the next 3 to 5 years? In other words the PMs bull run is over?
Using the last gold bull run as a gauge....the time it took to go from the first spike ($200) to its mid cycle low was the same time it took to go from this low back to the spike high. It was like a 'V' shape.........there a lot of similarities between the 70's bull run and now so I would not be surprised if a similar thing happens again. We will have to wait for the low first to gauge the time frame for the recovery.....the low could be around the $1000 mark so wait a bit longer
No, I'm not saying that at all. I hope prices do surpass previous highs. However, I'm not blind to the fact that this may not happen. And looking at this possibility does not equal weak hands or a weak mind. In fact, it could be argued that it takes more balls to look at yourself objectively, than to keep trumpeting out the same old "I've got big balls so I'm holding... even though it's costing me..." propaganda. More so, I don't keep trying to convince myself that new highs in 3-5 yrs is the only possible correct outcome, and that should it not eventuate, that stackers were still correct, and the market was wrong.
I agree with what you are saying but i just have to wonder which of the two scenarios you think is more likely to occur going forward? 1. end of bull run and beginning of sideways movement or bear run 2. temporary correction and bull run will continue and leave past highs far behind within next few years
My guess would be somewhere between 1 and 2. I think the bull run ended in Sep 2011 when price broke below USD$33 - this is based on technicals, which is the only way I am able to logically define it. Thus, it follows my logic that we have been in a bear-market, or correction since 2011, so I can't see the "end of a bull run" this going forward (1) - IMO it has already occurred. In my mind, a correction (2) is already taking place, so I can't see that going forward either. A correction is temporary by definition, and a correction is always followed by a resuming overall trend which IMO is up ATM. So, I'd have to go with 2 - the closest resemblance to my guess. This is an easy guess, as eventually it will come true - that it why permabulls love to broadcast it constantly - eventually they will be right. At what price and when the bull run resumes, and when new highs are reached are anyone's guess. That is the costly factor to ignore - a cost of lost value and lost opportunity that is severely underestimated by most of the gang-buster permabull stackers, especially when compounded. It is an ignorance that has cost most of this type a fortune over the last 2 years, whether they like to admit it to themselves or not. And, no, you don't only lose when you sell.
my advice is to stop looking for the doppleganger under the bed. You are positioning yourselves in a tradable asset. Understand the market, understand the participants. Stop looking at 'manipulation' as an excuse for your pricing losses. There is money to be made, but not if ones focus is not right. I am making money in this environment.
