Why is gold being sold down when the worlds largest economy is in shutdown, and the talk of default on their US $16 trillion debt is again on the table as Obama tries to raise their debt ceiling? Surely gold would be a safe commodity/asset/money to convert some of your fiat if the global financial market was in such flux?
http://www.toiletpaper.com.au/22-carat-gold-toilet-paper-1-roll/ 22 Carat Gold Toilet Paper - 1 Roll Price: 1,376,900.00 Availability: Delivered Personaly with a bottle of Champagne Current Stock: 1
I wonder if that gold toilet paper actually is a thin foil or just a massive piece of gold? Here's a golden bathroom in Dubai:
Possibly because markets are selling down the paper and buying physical, which does not affect the price discovery mechanism. GLD stockpile still dropping.
Looks like massive ETF positions are dumped on the market at one instant triggering sell stops on the way down causing the price of gold to fall. Are you referring to the diminishing physical supplies in GLD/Comex type facilities? Are you also saying that investors are buying up the physical metal at cheaper prices reducing the stockpile? If you are, Isn't this obtaining a new price discovery?
I agree. The same nonsense gets recycled over and over on this site. I'm still waiting for hyperinflation to kick in so the Gold price goes to, using that stupid expression 'Da Moon'.
Lets get the facts in place wrcmad Most if not all my posts about gold price suppression, are questions, not the same ol' shit as you suggest When evidence like this http://www.zerohedge.com/news/2013-04-15/gold-crush-started-400-ton-friday-forced-sale-comex I begin to wonder true market forces is the last thing that reflects the price of gold The reason I ask questions is because I don't know and given this is a forum specifically about the subject figure it's not a bad place to start You have derailed this thread and others with your shit sense of humor wrcmad, i'm just bringing it to your attention Also When I see responses like this and two muppets say thanks I wonder why they are involved in PM And finally to The Road Home "I agree. The same nonsense gets recycled over and over on this site..." as you just did by supporting the previous poster's view before you, I guess that makes you a hypocrite, wrcmad, what do you think about your mate's view on inflation kicking off the price of gold? Priceless isn't it
Chief Alfie, This time read my post again only slowly. This Time think maybe this guy is being sarcastic about inflation induced prices. There you go.
Ok, lets start with your "evidence": "....the initial selling, rumoured to have been routed through Merrill Lynch's floor team." IMO, if you repeat something enough, people will accept it as truth. Conspiracy theorists repetitively pushing misleading information to unsuspecting investors looking for information on the relative merits of owning metals is just as criminal as the banksters they accuse. When rumours are taken as gospel or "evidence", as is depicted in your example, the truth seriously needs questioning. If questioning the truth goes against the grain and makes you a muppet, then it clear who is shovelling the shit. To question my involvement in PM's because I have an open mind is sheer arrogance. I am not here to stroke your dented ego by supporting you in a clan like mentality. If you are looking for a scape-goat for the price falls of the assets you are holding, then look to yourself. I accept and take full responsibility for my investment decisions, and also admit when my beliefs may have turned out to be wrong. I also make sure I have contingency plans when prices go against me. As for hypocrisy? Of course I believe the gold price should rise with inflation. It is fundamental. However, I also realise it may not, and will not point an accusing finger if it doesn't. Fundamentals is merely theory. Market price is the only fact.
The following are two quotes from Martin Armstrong regarding inflation. "............The commodity hedge funds are simply collapsing. This is one reason why you will also see the low in gold unfold. With all the ranting, screaming, claims of hyperinflation, threats of investigations, and prognostications that the dollar will end, not only has gold declined, but the appetite for investing in commodities in general................ ........................We are currently in a deflationary trend because the cost of government is rising and this is producing draconian laws and escalating taxes. This is NOT a deflation because the private sector is contracting as is the case during a crash such as the Great Depression or what we saw after 2007. The deflation in this case is not because of a loss of disposable income from a contraction in private asset values, but because the cost of government is rising still reducing the disposable income. The effect is the same, the source is not. Hence, we are experiencing still the 50% decline in liquidity. Numerous hedge funds are closing because of the collapse in liquidity and that is "normally" associated with a market decline as disposable income declines. The cause of this trend is rising costs in government..........." So when it materializes that the Gold price does not rise with inflation it's simply due to the money supply shrinking faster then the Fed pumping in those fake dollars. No hyper-inflation now or in the future. The next bull market in Gold will commence when the Bond market collapses. Then you will have no other place to park your cash.
Wow, Thanks wrcmad for the fact lesson I'm no intellect tiger but lets see The theme of your reply is in your own words "rumours are taken as gospel or "evidence"" "If you are looking for a scape-goat for the price falls of the assets you are holding, then look to yourself" "I accept and take full responsibility for my investment decisions" "I also make sure I have contingency plans when prices go against me." As its a fact lesson, please show me in this thread where I: 1) Admit I am a)holding assets and b)looking for a scape-goat when I simply QUESTION why this event took place in my example? 2) Asked you about your investment methodology? 3) Asked you what your contingency plans entail? "To question my involvement in PM's because I have an open mind is sheer arrogance." Well the fact is wrcmad my reply was directed to another poster (please check) its not all about you! "I am not here to stroke your dented ego " mmm don't know why you wrote this or where this type of personal comment sits in the scheme of things, are you familiar with the term transference? Finally, I asked for an explanation for the price plunge shown on that chart in the link, you respond by emphasizing it as "rumoured to have been routed through Merrill Lynch's floor team." This doesn't explain why there was a sudden fall (you know, those facts as seen on the chart) it explains your OPINION on some delivery mechanism!!! (please re-read your gospel/evidence rant as it smacks with hypocrisy when you insert "rumoured") Dude, you just kicked a home goal and in the process somehow gave yourself a wedgie whilst simultaneously kicking yourself in the spuds on the follow through. If there was a prize for shitting on one's self, wrcmad, you have taken out this and next years award, the gold plated turd award! No more selfies mate and take your own advice by sticking to the facts
