Altyngold Share Discussion Threads

[excellance] 28/11/2020 16:30

All currencies are mickey mouse currencies these days, since they are only backed by the potential success of politicians...and not the hard reality of hard commodities.

Mind you, for any currency to be backed by a single commodity is a bit unrealistic.

[cyberbub] 28/11/2020 14:48

It is possible - Zimbabwe did it - but it involves pegging your Mickey Mouse currency to a hard one, and severe hardship for a number of years. In future the Mickey Mouse currency may well be the USD and the hard currency will be gold.

[brasso3] 28/11/2020 10:32

Excellance

History would suggest that it is not possible to control hyperinflation. Although, I would not underestimate the FEDs arrogance and to try that approach.

[excellance] 28/11/2020 10:24

QE was originally conceived and implemented in Japan to try and end years of deflation following their megs stock market bear run.

It was later copied in 2008 by the fed and BOE to prevent a long term crash and bear market, and it has worked, except now those markets are totally dependent on that free money in perpetuity, or the markets will collapse.

The only option is incremental weening off of QE over decades, and slowly allowing interest rates to rise to a point where investors are happy to bid for govt bonds.

A quick solution would be to allow or induce hyper inflation for a year or two, then wack interest rates up to ridiculous levels and abandon QE, which scares the life out of most politicians, economists and business folk including banks.

[jc2706] 28/11/2020 09:54

Harrisun,

An interesting quote there. I think that the 'powers that be' consider this to be 'management' rather than 'manipulation' and perhaps the opprobrium should be directed more at the referenced trading houses rather than the central banks. I am sure that there was a real danger that their bonuses would have been cut. Unfortunately their greed and avarice can result in real hardship for others.

The real problem is that, ultimately, the abyss cannot be avoided. The problem is that with every year that reality is not faced, the drop associated with the abyss gets that much greater. This should have been dealt with long ago and certainly in 2007/8. Instead a Brown inspired can kicking process meant that the road got ever longer and the abyss ever deeper.

[brasso3] 28/11/2020 09:34

FED/ US expected to print $3 - $5 trillion in 2021. The gold price today is just a black friday sale.

[excellance] 27/11/2020 18:34

QE must continue forever, because the alternative is unaffordable interest rates, so now interest rates are artificial as are the money markets, and in fact most markets these days are not what Maggie would have called "free", everything is controlled, from oil to food, electricity to gold.

at some point common sense MUST prevail when the penny drops, or the pound euro and dollar.

[harrisun] 27/11/2020 17:57

you might hear of $1650 paper gold, or feasibly $1000 paper gold, but all that is is PAPER.

For years governments in the West have conspired to keep the price of gold down, as Gordon Brown amply demonstrated by telegraphing an intention to sell tonnes of gold in advance....result it dropped the price of gold and no seller would go out of their way to do what he did if they wanted the best price.

Now even if this pandemic is brought under control, it won't dissolve the massive currency spend of nations who have had printing presses working 24/7 on fiat money.

This and quantitive easing or DEVALUATION as it really is, will push up prices eventually, and forcibly conspiring to keep interest rates low just to service massive amounts of debt won't work forever, not with all the devaluation.

The cost of mining gold and other resources then has to rise, so the idea of prices much lower than the cost of mining seems strange.

Even with the move to renewables, energy prices won't drop, even if politicians constantly spot that rubbish especially on the BBC!

Electricity prices rise inexorably, and renewables especially as many of them were guaranteed 48p per KW index linked for 25 years.

Even on current consumer prices of around 16.4997p per kWhh, you imagine changing an average size 24kw gas boiler to electricity. 24 x16.5p per hour or around £4 an hour!


Gold price suppression is even documented:

"Eddie George spoke to Nicholas J. Morrell (CEO of Lonmin Plc) after the Washington Agreement gold price explosion in Sept/Oct 1999. Mr. George said "We looked into the abyss if the gold price rose further. A further rise would have taken down one or several trading houses, which might have taken down all the rest in their wake. Therefore at any price, at any cost, the central banks had to quell the gold price, manage it. It was very difficult to get the gold price under control but we have now succeeded. The US Fed was very active in getting the gold price down. So was the U.K."

[bsg] 27/11/2020 16:29

$1650 I've heard.

[c0lin1] 27/11/2020 16:18

gold correction over.. fill your boots

[bsg] 27/11/2020 15:31

At least the spreads better, shame gold's tanking.

[stevea171] 27/11/2020 15:16

MM's have been accumulating stock here, presumably for a large buy order in the background or making a killing when 'what happens next' .....

[onedayrodders] 27/11/2020 14:56

Gold bobbing around the well touted bottom ready for the big long surge.With the USD Index spending more time now with a 91 handle, odds are the gold move called could be right

[onedayrodders] 27/11/2020 14:38

4976 ... Indeed cyber ... been like that for a decade, at least the timing of many slaps. Can't say for sure who it is but definitely that has been the time for so many paper attacks.

Might get a comment from zerohedge confirming the same later

[nevgroom] 27/11/2020 14:37

Forget PoG - What's with this tsunami of trades at 14.22??

[mrmcnee] 27/11/2020 14:32

Gold RSI is the lowest it has been for 3 years, seriously oversold therefore - the bounce back could be very strong.

[jc2706] 27/11/2020 14:30

Paper gold always trumps physical in the short term. But my understanding is that premiums are high in physical with similar levels to March. That would suggest that any hit in paper prices should be temporary

[c0lin1] 27/11/2020 14:23

open down finish up..i fell it in my bones

edit...correction over

[onedayrodders] 27/11/2020 14:19

Not looking good

[cyberbub] 27/11/2020 13:57

It's always when the NYMEX/"Crimex" comes online that we get a smack down FFS

[onedayrodders] 27/11/2020 13:38

Moment of truth for Gold now ... so called expected big bounce and massive cup and handle or into the wilderness again and more years of pain for us all.If gold can't progress from here given all that has gone on, it never will.

[glavey] 27/11/2020 05:34

Of course the share price of any gold minor respond to movements in the gold price, but in this case there's also the consolidation and the intent behind the consolidation.

4939