Gold, Silver, etc...

[Wimpy]

There is a huge down side to see gold and silver going skyward as in 78.The World will be in a mess,and whats the use of having metals if you are constantly worrying if you are going to be here tomorrow.Gold will continue to go up,and it has nothing to do with inflation.It means the human race as we know it,is breaking down,so let us all pray it will go back down.I realize this will not be a popular opinion.Its much better making money in stocks and we will be alive to spend it.

The rise in the price of gold is only a symptom of dis-ease. Remove the cause of the dis-ease and the symptoms take care of themselves. Praying that the symptoms of dis-ease go away, without addressing its root causes, is a ‘Disneyland’ approach to problem solving.

Let’s look at it another way for a moment. We could say that the locks on our front doors are a symptom of dis-ease. What dis-ease are we are talking about? It is the flawed thinking that we can have something for nothing or that it is easier to take or steal from others than it is to acquire those items through work and thrift. Do we dispense with the locks on our front doors because they remind us of the ‘dark side’? Do we pray that the locks go away or do we pray that the thieves go away and sin no more?

Our prayers are more effective when directed at the cause of dis-ease AFTER we’ve taken active steps to mitigate their ill effect. Faith without works is dead. In the meantime and until those prayers are answered, it would be wise to leave the locks and the gold in place. Both will protect you from looters of all ilk.

You ask the question, “…what’s the use in having metals if you are constantly worrying if you are going to be here tomorrow…?” I’m assuming you are talking about ground zero, terrorism, and the N word. Do you realize there are numerous countries in the world where its citizens never give terrorism a moments thought? If you’ve protected yourself with gold, you will have the option to move to one of these locations where the threat of terrorism is nonexistent. Maybe you won’t have enough gold to leave the U.S., but maybe it will be just enough to allow you to leave a large U.S. city that is more susceptible to terrorism. Maybe the lock on the front door won’t be enough to thwart a determined looter, but maybe the noise of the forced entry will give you enough time to gather and protect your family.

We can either choose to accept responsibility for the circumstances in which we find ourselves and take action, or we can put on our victim faces. Both choices have their unique rewards and consequences.

 

[Show-me]

If prayers and locks don't seem to work might I recommend # 2 on my list. The sound of a shell being chambered is mighty effective.

http://www.winchesterguns.com/prodinfo/catalog/detail.asp?cat_id=512&type_id=209&cat=012C

 

[Wimpy]

If prayers and locks don't seem to work might I recommend # 2 on my list. The sound of a shell being chambered is mighty effective.

http://www.winchesterguns.com/prodinfo/catalog/detail.asp?cat_id=512&type_id=209&cat=012C

In addition to #2, on the list, a good dog would also be beneficial, but when both are barking excessively, it is probably time to consider a new locale.

 

[Show-me]

Woof Woof!

Yea even a little dog with a big bark is very effective. Woof Woof!

 

[Wimpy]

Now looks like an excellent opportunity to pick up gold and silver on the cheap before it heads on up.

You might consider using a TSP loan to borrow up to 10% of your TSP holdings and buying gold as an insurance hedge. Yeah, it takes a few weeks to get the loan money, but a person could use one of those 0% credit card offers in the interim and pay it off when the TSP loan comes through. It helps with keeping your credit line active and builds/maintains a good credit score.

You win on several fronts and get to pay the TSP fund (yourself essentially) back with cheaper dollars.

 

[robo]

By Svea Herbst-Bayliss
Sat Jun 17, 3:23 AM ET

BOSTON (Reuters) - When a 76-year-old pensioner recently told Jill Schlesinger he wanted to put 10 percent of his $100,000 portfolio into gold, the financial adviser knew the latest investment craze would likely end badly, and soon.

"With each passing quarter, people became more greedy and more complacent," said Schlesinger, chief investment officer at money-management firm StrategicPoint Investment Advisors in Providence, Rhode Island. "And people lose sight of what a diversified portfolio is and what risk is."

Suddenly, investors who had never traveled beyond the East Coast of the United States were plowing money into India and Brazil and metals mined in faraway places.

Many are now suffering double-digit losses, but they won't get much sympathy from regulators because they were warned and because losses aren't yet heavy enough, according to financial advisers.

"There have not been enough people who have been damaged to get the regulators to notice this one," said Richard Smith, president of Capital Advisory Group in Richmond, Virginia.

Less than six years after the worst bear market in many investors' memories, people were eagerly dabbling in some of the world's riskiest markets in a craze fueled by hopes of recouping money lost when the technology bubble burst.

Money-management firms' steady offering of new products also fed the frenzy.

Exchange traded funds like StreetTracks Gold Trust, iShares Comex Gold Trust and iShares Silver Trust let investors get into precious metals markets. Crude futures were available, and Deutsche Bank had a ETF to track its diversified commodities index. And more specialized ETFs were on the way.

But many of those bets ended badly. Investors who purchased the recently launched Barclays Global Investors unit's silver ETF lost roughly 26 percent if they got in at the beginning. If they bought later, they lost even more.

ETFs, which have been available for less than 20 years, are similar to mutual funds but are traded in exchanges and allow investors to participate directly in markets.

"With new products like ETFs it is easy to speculate, but investors have no one to blame but themselves for any losses on a run-up they thought looked like a sure thing," said Capital Advisory Group's Smith. "The fund firms are only producing the vehicles, they are not showing anyone how to use them."

But there were plenty of warning signs along the way, making potential lawsuits over the losses highly unlikely, according to financial advisers and analysts.

Barclays said clearly that its silver ETF wasn't for the faint-hearted, according to financial advisers. And mutual funds that offered other ways to get into recently successful markets also cautioned investors in other ways.

Vanguard told its clients that the energy market was overheated, and Oppenheimer Funds recently raised the investment minimum for its Developing Markets fund to $50,000 to keep out investors who can't afford a potentially heavy loss.

"This was clearly a message to investors that the emerging markets were overheated and that there was a lot of hot money in the asset class," said Dan Lefkovitz, analyst at research firm Morningstar Inc. in Chicago.

Still, despite the warnings, investors made a critical mistake with commodities in the last months.

"Wall Street decided that commodities could be bought and held forever," and that prompted investors to plow in some $200 billion over the last three to six months, said Leonard Kaplan, president of commodities brokerage firm Prospector Asset Management in Evanston, Illinois.

"That was incredibly ignorant and it will happen over and over again because the public is infinitely stupid about these things," Kaplan said.


Much better prices now!!! Sell when they are yelling and buy when then are crying!!! I personal know nothing about investing in commodities. I have enough problem with the S&P..

 

[robo]

A Chart Blog

Saturday, 17 June 2006

***Gold ETF Enters Support Zone***

After a harrowing decline the last 5-6 weeks, the StreetTracks Gold ETF (GLD) finally reached a support zone and RSI became oversold. This paves the way for a bounce and possibly a continuation of the long-term uptrend.


http://www.decisionpoint.com/TAC/HILL.html

 

[Machinist Mate]

The Chinese are thinking about selling 10% of their reserves.If they decide to do that,that is the equivelent of 20% of the worlds supply.Gold could be like blowing tumbleweed in Arizona,and prices would dive.Keep your eyes on China as they could cause allot of turmoil in the Gold Fields.Thars gold in them hills,but only if China keeps theirs.

 

[nnuut]

Good info MM. That's scary, with all of the gold I have!! HA HA HA HA HA HA HA HA!!

 

[Show-me]

http://www.nwtmintbullion.com/All_Silver.php

 

[Bullitt]

Some biased information from a gold bug who has a vested interested in you buying into the world collapse scenario.
-----------
Why Gold will Keep Going Up For Years
http://www.gata.org/node/8281

 

[JTH]

Some biased information from a gold bug who has a vested interested in you buying into the world collapse scenario.
-----------
Why Gold will Keep Going Up For Years
http://www.gata.org/node/8281

Same story on a Youtube video, they won't admit it's a bubble and it's burst.
SLV's Head & Shoulder is almost done.

View attachment 8221

 

[Bullitt]

XAU is clearly leading gold on its trek lower here with a three top series of lower highs, but I'm sure there's a gold bug out there that will tell you this action is bullish.

 

[Bullitt]

Before you go buying gold because that free information site safehaven tells you inflation is guaranteed, understand that the biggest retailer in the world, Walmart, is cutting prices. This is not out of compassion for main street, this is deflation. Of course Bob Prechter and all those goons who salivate over gold will continue to tell you that, "Everyone should have 3-5% of your portfolio in gold," or, "Gold performs in deflation just like it does in inflation". Problem is, they've bought lower than you have and they know that as soon as main street catches on, it's C Wave time for them to sell into.

Wal-Mart says that it isn't so. Its executives attribute the chain's slowing sales to a general decline in food and electronics prices, a trend they say has begun to ease.

The company says it believes that, despite increasing consumer optimism, many Americans will continue to struggle in the months ahead. So, it is cutting prices this week on roughly 10,000 items, mostly food and other staples. The company declined to specify the sizes of the cuts.

http://online.wsj.com/article/SB10001424052702304198004575172271682347064.html?KEYWORDS=walmart

They just make you feel so compassionate for the little guy don't they? Spare me. I don't think Uncle Ben would be too happy if Wally World came out and said we're lowering prices because the re-inflation scheme being run by the crooks isn't working.

 

[CountryBoy]

Thanks Bullitt,

It explains alot and brings some things into focus. I've been leary about all the gold hype.

CB

 

[KevinD]

I wish I had some gold....

 

[wwwtractor]

As long as you have you stop loss in, why fight the trend when there is money to be made? My SLV and EWL sold but GLD and IAU are still going up to date.

 

[FAB1]

Did gold slip a bit today? Maybe a good sign for stocks.

 

[JTH]

If you'll allow me, there are a few things I'd like to point out. There is a difference between catching the trend and chasing the trend. This looks to be more a case of chasing an overbought breakout. Take a look at this chart of gold, you can see it's dipped below the 50 day moving average about 10 times in the last 3 years. Look at how extended it is over that average. Everything eventually comes back to it's 20/50/200 moving average, maybe not today, maybe not tomorrow, but sooner than you'll realize. Based on the 50 moving average and the 23.6 Fibonacci levels I would not consider an entry untill we pulled back to the 1500s.

View attachment 14956

 

[KevinD]

It's really not that gold is becoming more valuable...it's that the dollar is losing value. It takes more worthless paper dollars to buy the same ounce of gold.

http://www.telegraph.co.uk/finance/8691873/No-sign-of-gold-losing-its-appeal-as-it-hits-1780.html

Commerzbank neatly summed up the case for gold in a note to clients yesterday. "Driven by concerns on sovereign debt in Europe and the US, many market participants are currently piling into gold, because they believe it provides protection against purchasing power erosion due to inflation and currency devaluation," the German bank said.

"The yellow metal is viewed not only as a safe haven and store of value, but increasingly as an 'alternative currency' too."

Gold's role as a currency cannot be overstated. The devaluation of paper money by quantitative easing is making the metal more and more attractive to investors seeking safety.