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Originally posted by jamiejames
The greatest commodity one can have is FOOD! So, all y'all that are collecting gold and silver...hit me up when you get hungry...cuz that's the only thing you'll be bartering for. I mean, who determines the price of gold or silver? And if 'they' determine it too be worth $1 dollar....what EXACTLY can you do about it? Not too long ago...gold was selling for $700 or so an ounce...and today's price? So, why has the value increased? And, if you bought gold, at $2,000 an ounce and it sells tomorrow or $1,000....how is that a smart investment.
Here's another smart investment....MARIJUANA! Or at least some good seeds. No???? hahahahahedit on 25-1-2011 by jamiejames because: (no reason given)
Originally posted by CosmicCitizen
They are "shaking the tree" (of weak longs).
Over the past several weeks there had been rumors that the reason for the precipitous drop in gold was primarily driven by a hedge fund liquidating its futures positions. This has now been confirmed: "Yeah, that was just me liquidating my spread position," Mr. Daniel Shak, [of SHK Asset Management] 51 years old, said in an interview. "I had a significant, fully margined position. The dollar amount of the gold liquidation was very small, it was just a lot of contracts." Of course in the extremely jittery gold market, the kind of persistent marginal gross selling of contracts was all that was needed to spook weak hands into a consistent dump of the precious metal, which as we pointed out was beyond overdone. Judging by this morning's jump in the PM complex, SHK's liquidation is now not only over but about to promptly reverse as daytrading momos realize they were duped by one single guy. Look for gold to resume its upward advance as investors realize that the gold dump was nothing more than an ongoing futures position liquidation.
Gold is the only asset that takes the escalator down and the express elevator up. Incidentally, the 3% surge in WTI was predicted by Zero Hedge yesterday on what is completely common-sensical assumptions. What kind of idiots are running this market if someone is surprised by what is happening today?
I dont understand the people that wish the world to go to hell????