Please. Sell your Gold NOW! It's a trap.

Most of the popular dealers are nip & tuck in what they offer for precious metals. To see what Kitco is currently paying for investment grade Silver items, scroll down to Silver products. - Link

GL

reply to post by sbctinfantry


Live Spot GoldSPOT MARKET IS OPEN
closes in 7 hrs. 14 mins.
Sep 02, 2011 10:01 NY Time
Bid/Ask 1871.00 - 1872.00
Low/High 1825.60 - 1882.30
Change +45.60 +2.50%
30daychg +209.30 +12.60%
1yearchg +619.10 +49.48%
Charts...

Just meant to ask you whether you are going to put a time-line on the "trap" being sprung.

An ATS member called "Greenbicman" made a similarly bold thread about a year ago stating that Gold was about to experience a 30% correction and guess what?

Have a good weekend,

PEACE,
RK.

Bubble ?

Thursday on CNBC of all places, commodities analyst Sharon Epperson cited the lack of retail investment in the Gold sector: The fact remains that the surveys that we've seen show that about one to two percent of investors have allocations to commodities, about one percent to two percent of their portfolio is in commodities, but only a fraction of that is allocated to Gold."

ZeroHedge/Casey Research address the institutional landscape....

Wikileaks Discloses The Reason(s) Behind China's Shadow Gold Buying Spree

Wondering why gold at $1850 is cheap, or why gold at double that price will also be cheap, or frankly at any price? Because, as the following leaked cable explains, gold is, to China at least, nothing but the opportunity cost of destroying the dollar's reserve status. Putting that into dollar terms is, therefore, impractical at best, and illogical at worst. We have a suspicion that the following cable from the US embassy in China is about to go not viral but very much global, and prompt all those mutual fund managers who are on the golden sidelines to dip a toe in the 24 karat pool. - Continues

Of course none of this is news to informed precious metals investors in the Gold/Silver camp.

GL

This from an individual who claims to know something about the PM market ?

Originally posted by sbctinfantry
Why don't you waltz into any precious metal dealer right now and try to get market value for your metal. I garuntee if you sell a silver dollar, worth around $41, you will be offered around $22.

After Friday's run-up I see that Kitco is currently paying sellers $45.25 for American Silver Eagles (silver dollars). Now folks, that's $2,00 above spot, and over twice the OPs "guaranteed" price of $22.

Perhaps this thread should be re-titled: Sell your Gold NOW!: How To Blow Your Credibility In 1 Easy Lesson!

Beware threads offering unsolicited investment advice - posters assuming to save you from yourself under the guise of social responsibility.

GL

Guys like you crack me up. Mostly because you think that places like the one offering $2 above will be buying at all when the price tumbles.

It's fine though, I don't mind being ridiculed or spoken down to by someone who can't imagine a world where the thing you possess drops in value faster than you can track it.

I don't mind lending those same people a helping hand when everything they counted on dissapears. "Guarunteed"



Hey, we can both see that this thread will go off-topic from here so don't feel upset if I no longer respond to your wonderfully crafted illusions of stability and purchasing power.

I'll stick to reality, thanks.

You aren't really being ridiculed. Anyone who has been in the markets for long enough has witnessed these events where the price drops faster than you can imagine. Last great example of this was the flash crash.

But honestly I don't think the "game" has changed yet. Do you? Nothing is really better yet in this world. Europe is the new nightmare. Who knows how much interest the US banks have over there. I am personally not into striking fear into people for no reason, but Europe has real problems. So do we in the USA, but we have different problems to deal with. Plus our economy and markets are much more flexible.

Notice that every down day we have ( minus jobs reports.. ) Europe is always down sharply as well. The only day gold has gotten hammered was the margin hike overseas. We see how that came back.

Just always remember to be diversified. Then you will never have to worry about these things. The mistakes come because as humans we react oddly to fear and greed.

One good way to be ridiculed though is to call a top in a crazy extending trending market like this. Think about how many places over the past 3 years you could have called a top in gold. You would have been burned every single time.

If you have THAT much gold and are worried you should just purchase some deep OTM put options and go back to sleep. Let them decay like any other insurance policy you can imagine. You will sleep much easier and won't have to be checked into the ER like I was plenty of times because of panic attacks related to market anxiety.

Whether a retail investor owns 10 oz Silver, or 100 oz Gold, his investment typically represents substantial effort and hard work. When posters (typically a person with zero experience in this market) try to incite unwarranted fear in unsuspecting investors, they're no better than purse-snatchers imho. Their hackneyed scare tactics, always shallow, devoid of rational technical/fundamental underpinnings can only be effective with the most vulnerable class of investor > the new guy. Especially the new guy that bought near the top and is now underwater a few bucks, or the newer investor that is marginally profitable. Anyone that's been here awhile has seen it all and heard it all before.

Their motive ?

Always the same...a blend of ego and sour grapes cloaked in a veil of altruism. God willing, there's a special place in hell for these individuals.

If you're new, or simply contemplating your first allocation - study the markets deeply, don't invest more than you're comfort level allows, keep your ear to the ground, and stick with the proven winners > Sinclair, Embry, Turk, Morgan et al....you'll know when it's time to sell.

Agree D4L. Some people sleep well naked, but options offer cheap insurance for those that don't.

On a side note, I thought y'all might enjoy the latest from economist Eric Janszen. As with most of most of his key analysis, I think this overview may prove to be prescient and important for all market participants as we move forward into years' end.

Illusion of Recovery – Part I: Print and pray has officially failed

GL

I hope you aren't jerking my chain. I'm going to do my best to explain this very clearly.

I'm not predicting that gold will crash on this day, month, year. I'm predicting that anyone investing in gold without the intention to manipulate the market is, at best, ignorant.

If you think it will be a currency in the coming global financial meltdown, and you don't have a bunker with a years food supply for each member of your family and a means to protect it, sat on top of a farm, in the middle of nowhere, next to a water source, you aren't going to make it bro. Sorry.

I fully understand you aren't following the discussion, however I'm not sure you're trying to derail the topic or are just arrogant and ignorant.

Take no offense, it's not mature to do so.

reply to post by sbctinfantry


THE SKY IS FALLING!!! AHHHHH!!

You are not one of those 2012 nuts are you? I promise the world isn't going to end next year buddy.

reply to post by sbctinfantry

What you did sir, was advise (in an unsolicited manner) that investors Sell their Gold NOW! on August 22 when
Comex Gold closed @ $1885. In the vernacular, this is referred to as Top Calling. Now if you really knew what you were talking about here, and actually had the courage of your convictions, you and a few others on this thread would have been shorting $1885 with reckless abandon...but you weren't. Why ? Because not only do you not understand this market, but you haven't got an ounce of skin in this game, and you never have ($22 for an oz of Silver, guaranteed ???) Yet, you have the bold faced temerity to advise that others sell good Gold positions.

Now, you've announced your departure from this thread twice, once on the last page, and again today on this one. Frankly, you're beginning to resemble Monty Pythons' Black Knight

I've only been a board member here for a few years, but even I remember when protecting one's credibility was a paramount condsideration.

GL with that.

Originally posted by sbctinfantry
I hope you aren't jerking my chain. I'm going to do my best to explain this very clearly.

I'm not predicting that gold will crash on this day, month, year. I'm predicting that anyone investing in gold without the intention to manipulate the market is, at best, ignorant.

If you think it will be a currency in the coming global financial meltdown, and you don't have a bunker with a years food supply for each member of your family and a means to protect it, sat on top of a farm, in the middle of nowhere, next to a water source, you aren't going to make it bro. Sorry.

I'm sorry but could you be clearer, when you say 'investing in gold' do you mean specifically physical gold held in direct possession only or are you also including gold paper contracts and all related gold derivatives when you say gold?

Let me be clear, during the meltdown and especially after the 'sovereign debt crisis' is resolved I see a continued use of paper currencies all around the world and a final settlement between currency zones using physical items, the best and final of which is physical gold. The result of which will be a massive deflation in everything, companies, real estate and commodities when compared to physical gold, and especially in the value of paper contract gold and all currencies compared to physical gold. After which physical gold will continue to reference this value of everything including currency and provide a daily true value of all currencies. Any attempt to manipulate the value of things including paper currency itself will be revealed and hence very difficult if not impossible to achieve. The result will be a much more stable economic system than we have today, physical gold will no longer be called an investment, it will simply be a stable item of value for saving. Gold contacts will be pointless promises, delivering the physical gold will be all that matters.

Originally posted by inthewinterdark

Originally posted by sbctinfantry
I hope you aren't jerking my chain. I'm going to do my best to explain this very clearly.

I'm not predicting that gold will crash on this day, month, year. I'm predicting that anyone investing in gold without the intention to manipulate the market is, at best, ignorant.

If you think it will be a currency in the coming global financial meltdown, and you don't have a bunker with a years food supply for each member of your family and a means to protect it, sat on top of a farm, in the middle of nowhere, next to a water source, you aren't going to make it bro. Sorry.

I'm sorry but could you be clearer, when you say 'investing in gold' do you mean specifically physical gold held in direct possession only or are you also including gold paper contracts and all related gold derivatives when you say gold?

Let me be clear, during the meltdown and especially after the 'sovereign debt crisis' is resolved I see a continued use of paper currencies all around the world and a final settlement between currency zones using physical items, the best and final of which is physical gold. The result of which will be a massive deflation in everything, companies, real estate and commodities when compared to physical gold, and especially in the value of paper contract gold and all currencies compared to physical gold. After which physical gold will continue to reference this value of everything including currency and provide a daily true value of all currencies. Any attempt to manipulate the value of things including paper currency itself will be revealed and hence very difficult if not impossible to achieve. The result will be a much more stable economic system than we have today, physical gold will no longer be called an investment, it will simply be a stable item of value for saving. Gold contacts will be pointless promises, delivering the physical gold will be all that matters.

Well said.

If you want to protect yourself from the coming financial storm:

Buy PHYSICAL.

If you can't touch it, then you don't own it.

www.economicvoice.com...

But this leaked cable sent from the US embassy in Beijing in April 2009 under the name of Picutta and posted on Wikileaks does suggest that China is buying gold with the intention of weakening the dollar’s reserve currency status and that gold prices will keep going up. Read more: www.economicvoice.com...

China is buying gold to destroy the dollar?

To conclude this thread started by sbctinfantry,

I have made an important point of distinguishing between physical gold held in ones possession and everything else like gold contracts, ETF's and all derivatives thereof. Because the way we value physical gold and these other things is really quite different and actual prices for these two things will reflect this extreme difference of value in the not too distant future.

sbctinfantry has yet to specify which of these two things, physical or paper, he means when he says "gold".

For further details of the coming deflation of everything compared to physical gold please see my posts on pages 13 and 14 of this thread. Real estate will go from an average of 300 ounces of physical gold to less than 10 ounces for the same average house! Do you want a fuller explanation? my posts on pages 13 and 14 can certainly be expanded.

To continue this discussion please start a new thread with a less confusing title. sbctinfantry has definitely and sincerely said the following about selling "gold" in the quote below in direct conflict with sbctinfantry's own thread title "Please. Sell your Gold NOW! It's a trap.".

Originally posted by sbctinfantry
Am I telling you to do it today? No, do it when you feel like you're comfortable. No pressure.

So which is it sbctinfantry, Sell Now? or when one feels comfortable? Are you talking about paper? or physical? What is your response to my posts if any?

Conclusion of my posts: BUY PHYSICAL GOLD NOW

Originally posted by ExPostFacto
www.economicvoice.com...

But this leaked cable sent from the US embassy in Beijing in April 2009 under the name of Picutta and posted on Wikileaks does suggest that China is buying gold with the intention of weakening the dollar’s reserve currency status and that gold prices will keep going up. Read more: www.economicvoice.com...

China is buying gold to destroy the dollar?

It has been in the pipework for a long time, they knew that the USD was on it's deathbed years ago. The US has managed to keep the USD as the reserve currency of the world with absolutely no hard asset backing it. It is purely a paper promise in the end game and boy have they made the most of their ability to print it. Or simply add zero's on the end with their electronic financial system

Gold to INFINITY vs the USD. Guaranteed (due to the USD going to zero)

Originally posted by inthewinterdark
To conclude this thread started by sbctinfantry,

I have made an important point of distinguishing between physical gold held in ones possession and everything else like gold contracts, ETF's and all derivatives thereof. Because the way we value physical gold and these other things is really quite different and actual prices for these two things will reflect this extreme difference of value in the not too distant future.

sbctinfantry has yet to specify which of these two things, physical or paper, he means when he says "gold".

For further details of the coming deflation of everything compared to physical gold please see my posts on pages 13 and 14 of this thread. Real estate will go from an average of 300 ounces of physical gold to less than 10 ounces for the same average house! Do you want a fuller explanation? my posts on pages 13 and 14 can certainly be expanded.

To continue this discussion please start a new thread with a less confusing title. sbctinfantry has definitely and sincerely said the following about selling "gold" in the quote below in direct conflict with sbctinfantry's own thread title "Please. Sell your Gold NOW! It's a trap.".

Originally posted by sbctinfantry
Am I telling you to do it today? No, do it when you feel like you're comfortable. No pressure.

So which is it sbctinfantry, Sell Now? or when one feels comfortable? Are you talking about paper? or physical? What is your response to my posts if any?

Conclusion of my posts: BUY PHYSICAL GOLD NOW

Cute, and to the point. I agree most everything you stated with the exception of the italicized portions. I kid.

I have, over and over, tried to be very specific. When you remain purposefully ignorant, it derails the thread much in the way you and your fellow trolls have.

However, the entire point of this thread, as clarified over and over is basically this:

☼ I never called a top in the market, if gold goes to $5,000 an ounce, it won't matter. Why, do you ask? Well, because when it comes time to actually need the gold, it will be worthless. If you are purchasing gold before land, water, energy and other commodities you are misinformed at best, and heading for trouble. If you believe that there will be anyone buying gold for >50% of your asking price after the bubble pops, you're in for a real surprise. While you can easily connect buyer to seller in this exploding market, when the market dries up, you will be left holding a piece of metal that no one will pay your asking price for. That's fine with me, so, as I said before. If you don't want to sell, that's perfectly fine with me. However, gold is a trap, because all that glitters is not, well...

☼ I wholeheartedly agree that buying EFT's is a far weaker position than buying physical gold. Any idiot can see that in the world of derivatives and imaginary wealth packaging you're going to get burnt worst of all in the end. May I ask why you feel that if one is a bad choice, the other must be a good choice? Maybe you live in a world of false paradigms that construct a security blanket to shelter you against the knowledge of the big boys, but I do not. I also find it a little insulting that you feel the other members here share your views as well. While you pat yourself on the back for pursuing vehemently a topic that only you seem to be discussing, the real discussion continues without you.

☼ I have been a little irritiated with your trolling, I will admit, but it has been more enlightening than not. I have been forced to reassert my views, check my facts, and follow my nose in order to be more secure in my beliefs. I realize that until gold actually does collapse, and you are left holding the bag (which is not made of gold, nor filled with it) you will follow the pack and call me a shill, liar, or charlatan. I didn't create this thread for silly reasons like stars and flags, or popularity. My ideas aren't always popular, but they are the truth as best as I can convey it.

☼ Another poster stated he was glad I was "departing" this thread for a second time. I haven't departed, nor intended or implied that I would. I merely decided I would no longer let myself get caught up in a troll's best effort to derail a thread. I have decided to make one last effort to set the record straight and word it in a way that even a child with no reading comprehension skills can understand.

☼ I value everyones opinion and contributions. I have starred every single post, even when derrogatory. Please, if you have information that would seem important, do not hesitate to send it. If you are too embarrased at this point to make contact publicly, I would entertain your PM's. I understand, it is hard to accept you are on the wrong side, morally speaking.

I may add more later, but I'll wait to see if unlike every other post, this one is actually comprehended.

reply to post by sbctinfantry


My problem with your thread is 2 things.

1) Your title "Please. Sell your Gold NOW! It's a trap."
2) Your explanation for why people should "Sell their Gold".

You always like to jump to some dooms day scenario as your main reasoning to why people should be selling their gold. I must ask, do you really think the world is going to collapse into a "Road Warrior" scenario any time soon? The way you keep making your arguments I have to assume you truly believe this.

Sure, I'll agree with you that one day this could very well happen (anything is possible) and when society has fully collapsed Gold probably won't have any real value to people like you and me... at least not as much as Food, Water, Energy, Land, etc. But lets be real here... Society is not going to collapse in the next 12 months.

So unless you truly believe that society is on the brink of collapsing, then I suggest you stop advising people to "Sell their Gold Now! It's a trap!".

By the way, as I am typing this; Gold is currently at $1,908.

For the rest of us who actually understand what we are "Currently Facing" and are not living out some overly paranoid fear of a total and complete collapse of Society happening any time soon (or at least within the next 12 months)... Gold with no doubt will be over $2,000 before the end of this month (maybe even before Friday) and it should be around $2,500 by Christmas which many top economist as well as JP Morgan are predicting (Just Google: "JP Morgan $2,500 Gold). By March, Gold will most likely pass the $3,000 mark. If anyone here has Gold that they would like to sell, you are much better off waiting until next Spring when Gold has passed $3,000 per Ounce. Why would you be stupid enough to sell it today at $1,908?? Unless of course you are like the OP and believe Society will collapse within the next 6 or 12 months.

OP, your title is the biggest Joke of this thread. That's why you keep getting flamed on. I promise you, the world is not going to end before the end of 2012. So buy GOLD NOW while it is still this cheap.

Continuing

☼ I never said society will collapse in six months, so your egregious error in judgement is being considered at the moment and I may decide to report you, finally, as posting off topic in order to derail a thread you don't understand. I have already handed the olive branch repeatedly, and have worked toward a real discussion of the topic. You have continually tried to insult me, my integrity and intelligence. For any other readers of your drivel, I am merely stating that those that hold gold as a last resort will find no solice in it. In fact, investing heavily into it when you have not covered the basic necessities (food production and water colection/storage) is absurd, to say the least.

☼ If you have already prepared by gathering food, water and necessities, you will find your safest bet to invest in Energy, Water, and Land. Anything and everything you own can be confiscated by theives, both working for the government and not. Weapons are therefore your main contingiency. Hiding yourself and your goods would be the most pertinent course of action, only using force when all other options are exhausted.

☼ Gold is very much a trap for those who would sink their wealth into it because fearmongering media, precious metal peddlers and doomsdayers tell them it is the safest bet in times of crisis. Executive Order 6102, signed by Roosevelt effectively outlawed the hoarding of gold in any form. What would you do today if the USG ordered you to stop hoarding money, water, food, land, and other necessities? We all realize here that nothing is guarunteed. We all realize that if the government wants to sieze something, it will.

By the way, as I am typing this; Gold is currently at $1,908.

For the rest of us who actually understand what we are "Currently Facing" and are not living out some overly paranoid fear of a total and complete collapse of Society happening any time soon (or at least within the next 12 months)... Gold with no doubt will be over $2,000 before the end of this month (maybe even before Friday) and it should be around $2,500 by Christmas which many top economist as well as JP Morgan are predicting (Just Google: "JP Morgan $2,500 Gold). By March, Gold will most likely pass the $3,000 mark. If anyone here has Gold that they would like to sell, you are much better off waiting until next Spring when Gold has passed $3,000 per Ounce. Why would you be stupid enough to sell it today at $1,908?? Unless of course you are like the OP and believe Society will collapse within the next 6 or 12 months.

OP, your title is the biggest Joke of this thread. That's why you keep getting flamed on. I promise you, the world is not going to end before the end of 2012. So buy GOLD NOW while it is still this cheap.

☼ Fear comes from doubt, insecurity, ignorance and weakness. Those who are secure in their beliefs do not fear the unknown. The price of gold is arbitrary for those who wish to see. In fact, working exactly against what you are tirelessly trying to pawn off as knowledge, the price of gold is not "cheap". $1,900 or more is the cost, per month, on the mortgage for a beautiful home. It is enough money to vacation on, or even buy a years supply of food with money left over to purchase a powerful ketadine filtration system. Perhaps an Atmospheric Water Generator? (www.spheralsolar.com...) All of these things cost well under $1,900.

☼ If it is true (and it is) that gold is not increasing in value, but the dollar is declining. What will these products cost then? If gold hits $3,000 an ounce, we are in serious trouble. If you are still holding on to the idea that gold will save you at this point, something like an Atmospheric Water Generator's cost will increase as well. So, some of you will be holding a piece of metal, and some of you will be able to make water from thin air (for the model just under $1,800 that's 30 Litres a day!). Tell me, how much gold will a drink of water cost if there ever is a global meltdown? Could you use that revenue to purchase the ability to power that AWG?

It's just upsetting that you don't even realize what this topic is about. You have had ample time to join the real discussion, but have chosen not to. I have made plenty of effort to explain, as simply as possible, that you are discussing a completely unrelated topic.

I suppose I will not report you, so that anyone reading this thread in the future can see what tactics there are out there to disrupt the flow of information.

Originally posted by sbctinfantry

☼ If it is true (and it is) that gold is not increasing in value, but the dollar is declining. What will these products cost then? If gold hits $3,000 an ounce, we are in serious trouble. If you are still holding on to the idea that gold will save you at this point, something like an Atmospheric Water Generator's cost will increase as well.

I don't know why you are talking about buying this stuff if a doomsday scenario isn't what you're planning for, but anyway, if the price of your AWG goes up because of the dollar dropping, there is nothing you can do about it however people that have gold will still be able to afford one, and people that kept their dollar money wont.
See? If it's price is higher, it will be because gold's price is higher/dollars price is lower. So yeah, better off having gold rather than money.

reply to post by sbctinfantry


Thanks for your reply. I actually agree with mostly everything you wrote in your 'last post'. It is important to cover your basics first (food production, water collection/storage, etc.).

But let me ask you... who do you think actually "owns gold" in this Country? You do realize that less then 1% of the population in the United States actually owns gold don't you? So really, this thread should be titled "If you don't have your basic's covered, then Don't Buy Gold! It's a trap". For those of us fortunate enough to be apart of the 1% who actually OWNS GOLD... why would you tell us to sell it? Since your thread clearly states "Sell your Gold NOW!" you are clearly talking "specifically" to the people who are like me and NOT to the 99% of the population who doesn't even own any Gold.

Obviously if someone is able to afford Gold they most likely have most (if not all) of their basics covered. Again, if people ALREADY own Gold, then I can't imagine someone having more then $10,000-$20,000 in Gold and is still paying rent or living at home with mom and dad. Who does that??

So clearly those of us who already have Gold; pretty much have our other basics covered too. I for one already own an Atmospheric Water Generator. I got mine from here: Ecoloblue.com

I also told you before that I have Solar on my house (just got my recent bill in the mail and have over $1,200 in Credit! WooHoo!!).

Another point I'd like to add... real estate/land is actually getting Cheaper! So for someone like me (the 1% of the population that actually owns Gold), I think it would be so much wiser to wait until property has finally hit its bottom. Of course no one knows exactly how long it will take for prices to bottom out and this will also vary depending on which part of the Country you live in... but lets just say for sure 12 months from now property will be worth 'a lot less' then it is today. So if Gold is worth 'a lot MORE' in 12 months from now (and it will be)... Please tell me what makes more sense to you? Buying land/property at today's prices or buying Gold 'at today's prices'? I know I'd much rather continue to buy Gold (even at $1,900) and then sell it 12 months when Gold is well over $3,000 so that I can purchase property at a much cheaper price then it is today. Call me crazy, but that makes a lot more sense to me!

BTW, the EcoloBlue system today cost $1,200... I really doubt it will go up in price in 12 months. Normally as time goes on technology actually gets CHEAPER so even as inflation hits I'm sure you could still buy an Atmospheric Water Generator for $1,200 (or even less) in 12 months.

Anyways, thanks for making yourself clear. I agree with most of what you are saying but think you are targeting the wrong audience (at least with the Title of your thread).

Have you ever been driving around and you happen to see a sign that says "Estate Sale"?
Then after you follow the signs directions and finally arrive at the address only to find out it is just a lousy Garage Sale? That's kind of what this thread feels like...