Best Of The Best Share Discussion Threads

[traderabc] 21/6/2011 18:28

Keiser Report: Financial No-Go Zone (E157)

[traderabc] 21/6/2011 18:24

Jim Rogers Interview CNN Money 20 June 2011

[traderabc] 21/6/2011 12:13

coincall, perhaps I'm wrong here but my understanding is that whenever 'supply' is artificially constricted then prices rise. Maybe this Frank Dodd thing will have the effect of increasing the disconnect between physical and paper, maybe the US is becoming more irrelevant on the world stage and the only effect will to drive even more trade out of the US and onto other world exchanges. This news is not new, the market should have moved already if it was that significant, Gold just hit an all time high in £ terms, that doesn't strike me as bearish, at least not yet.

I certainly don't see this news as a sell signal. The only sell signal that I force myself to consider are the patterns on the chart, ie violation of the 200 day MA, though with gold it seems the 150 day is the one to use. As for silver, it's better to pay attention to gold as I feel it is the one that's setting the direction.

[coincall] 20/6/2011 21:21

traderabc,

You may have seen this and I suppose it comes as no surprise to see the US take such action. Looks as though all the Keiser silver and gold followers in the US are in for a kicking, assuming the POG is put under selling pressure in the run up to July 15th.



Trading Of Over The Counter Gold And Silver To Be Illegal Beginning July 15
Submitted by Tyler Durden on 06/18/2011 13:23 -0400

Commodity Futures Trading CommissionConsumer protectionFailHendersonOTCOTC DerivativesPrecious MetalsWall Street Journal


One small step toward Executive Order 6102 part 2, and one giant leap for corruptcongressmankind.

From: FOREX.com
Date: Fri, Jun 17, 2011 at 6:11 PM
Subject: Important Account Notice Re: Metals Trading
To: xxx

Important Account Notice Re: Metals Trading


We wanted to make you aware of some upcoming changes to FOREX.com's product offering. As a result of the Dodd-Frank Act enacted by US Congress, a new regulation prohibiting US residents from trading over the counter precious metals, including gold and silver, will go into effect on Friday, July 15, 2011.

In conjunction with this new regulation, FOREX.com must discontinue metals trading for US residents on Friday, July 15, 2011 at the close of trading at 5pm ET. As a result, all open metals positions must be closed by July 15, 2011 at 5pm ET.

We encourage you to wind down your trading activity in these products over the next month in anticipation of the new rule, as any open XAU or XAG positions that remain open prior to July 15, 2011 at approximately 5:00 pm ET will be automatically liquidated.

We sincerely regret any inconvenience complying with the new U.S. regulation may cause you. Should you have any questions, please feel free to contact our customer service team.

Sincerely,
The Team at FOREX.com

[traderabc] 20/6/2011 18:40

Gold Rises To New Record In GBP - Close to Near Record Highs In Euros And Most Currencies On Global Debt Contagion Risk

From GoldCore

Gold Rises to New Record in British Pounds - Close to Near Record Highs in Euros and Most Currencies on Global Debt Contagion Risk

Gold is being supported as default risk has increased after EU finance ministers failed to agree on a new Greek loan package. Gold priced in sterling rose to new record nominal highs this morning at £954.84/oz and the weakness of the euro has seen gold rise to touching distance (9 euros) from new record highs in euro terms at €1,088/oz.

[traderabc] 20/6/2011 16:55

Mad volatility, if I was technically savy enough I'd have bought, I'm trying to find someone to help me buy these things safely, should be able to do it this week.

Bitcoin Price Tumbles After Massive Account Hack and Sell-Off on Trading Site Mt.Gox

(it was under $2, currently around $4),

The bitcoin will be back to around 17.5$/BTC after we rollback all trades that have happened after the huge Bitcoin sale that happened on June 20th near 3:00am (JST).

One account with a lot of coins was compromised and whoever stole it (using a HK based IP to login) first sold all the coins in there, to buy those again just after, and then tried to withdraw the coins. The $1000/day withdraw limit was active for this account and the hacker could only get out with $1000 worth of coins.

Apart from this no account was compromised, and nothing was lost. Due to the large impact this had on the Bitcoin market, we will rollback every trade which happened since the big sale, and ensure this account is secure before opening access again.

[traderabc] 20/6/2011 16:55

Off topic.

The river traders of Brazil

Children risk getting cut to pieces as they fasten their canoes onto moving tourist boats in order to sell their goods.

[traderabc] 20/6/2011 11:37

Schiff

Merkel caves on Greece, Gross on QE3, rating agencies fraud?

[traderabc] 20/6/2011 11:36

This is a few years old, it reinforces what Rogers has said for some years, Russia may be a BRIC economy but it's just far too corrupt to invest in. Wikkileaks has confirmed this same finding in the last year.

Hermitage CEO Browder: Don't Invest in Russia Today

[traderabc] 20/6/2011 11:32

Greece MartinArmstrong pdf

[traderabc] 19/6/2011 13:06

I.O.U.S.A.: Byte-Sized - The 30 Minute Version

[traderabc] 19/6/2011 12:05

Rothschild's Indonesian Coal Play Pays Off Handsomely
Posted on June 18, 2011 by stacyherbert| 76 Comments

Stacy Summary: Deniers will shriek. But at Maxkeiser.com we live in the real world and so give you only the real data. Live in cuckoo land if you wish, but please don't talk in your sleep. For real worlders – you don't need to be a rocket scientist to know that we have hit peak oil, all the evidence supports that. As we have told you for years, however, forget what you hear (shrieked) about renewables, the plan is, and always was, coal. As you will see below, the empirical evidence is now supporting this. Our earlier assertions, however, were made based on Department of Energy own forecasts and by facts on the ground (i.e, the UK began building new coal mining operations). Our assertions were met by bombardments of shriek about peak oil being a hoax. Whatever. Just look at the frigging data. And note that this increase in coal use will lead to more global warming; you can shriek all you want but the plan is geo-engineering and not what the shriekers are shrieking about carbon taxes. Look at the facts. Trust me, you will end up dead, broke or just plain stupid if you scurry around like a headless chicken thanks to the shriekers.

[traderabc] 19/6/2011 11:50

This is long and I guess some will not like what they hear, but nevertheless it is interesting and gives food for thought, the usual Moleneaux humour is present.

The Handbook of Human Ownership - A Manual for New Tax Farmers

[traderabc] 19/6/2011 11:48

On the Edge with Michael Krieger

[traderabc] 19/6/2011 11:48

Max Keiser rallies the troops in Greece - Syntagma, Athens 16/6/11

[049balt] 18/6/2011 19:14

trader. I wish my cows had the manners to open gates rather than jump over them!!!

[jazza] 18/6/2011 13:02

UK M4 money supply is....err....negative.

so much for printing money.

[michaeld] 18/6/2011 12:49

Trader, I agree entirely with your thoughts on maintaining a strategic reserve of essential items, from food to energy fuels and even fertiliser. Unfortunately our politicians do not learn from history and the current 'money printing' by the US and to a lesser extent Britain is a prime example. The Chinese were apparently the first to try out paper money printing (unbacked by assets)as a way out of debt and that came unstuck in the Yuan dynasty around 1340 and there have been numerous examples since. Once a slide in confidence in a paper currency begins then it can rapidly slide into a rout. A panic sell off of the USD is likely to be the most serious example yet, being the Worlds reserve currency and will have very disruptive implications for World trade; food supplies etc. I'm stocking up on tins of baked beans etc, in case it happens! I hope that it doesn't.

[traderabc] 18/6/2011 12:07

the financial crisis was not caused solely by the banks.
it was caused by a huge bubble in property values that was used to secure debt.
governments had too much debt and people lived beyond their means for years.
it all collapsed and now it is pay back time.





The huge bubble in house prices was caused by the Federal reserve dropping interest rates too low for too long after the technology crash. I don't see why these debts ought to be paid back, the money was created out of thin air by a discredited organization after all.
It wasn't really money either as money is meant to be a stable medium of exchange, the $ has been anything but that over the last decade. I don't think the FED should be paid back, I think they should be abolished along with all the debt still owed. Then we start again with sound currencies.
This is already happening anyway as any pay back is cents on the $, as it has already lost about 45% of its value (against other paper currencies) in the last decade, 90%+ if you compare it against gold or many commodities.

[traderabc] 18/6/2011 11:43

Fraught with risks, but probably still a buy at close to $10. Best to keep the bitcoins on a well protected laptop that isn't normally connected to the net, encryption is a must.


New malware ferrets out and steals Bitcoins
Alert


By Dan Goodin in San Francisco

Posted in Malware, 18th June 2011 05:00 GMT


You know your virtual currency has hit the big leagues when criminals develop trojans that infect computers for the sole purpose of stealing it. Bitcoin, the open-source project launched two years ago, reached that turning point Thursday.





I hope so, I may be able to get them for $10

Malware Theft of Bitcoins a False Flag to Discredit Revolutionary Currency?




FAQ

Here you will find answers to the most commonly asked questions about bitcoins.

https://en.bitcoin.it/wiki/FAQ

[careful] 18/6/2011 11:12

the financial crisis was not caused solely by the banks.
it was caused by a huge bubble in property values that was used to secure debt.
governments had too much debt and people lived beyond their means for years.
it all collapsed and now it is pay back time.

[traderabc] 18/6/2011 11:09

michaeld, 2730 so true. I have a friend who was telling me at least 10 years ago what a disaster the EU agricultural policies were, he'd looked into the matter in some detail and was truly appalled.
I doubt things have gotten any better in the intervening years.

It was very common in older societies to stockpile food, sometimes in great amounts. Harvests were/are never guaranteed. With modern technology the long term storage of food is becoming easier more reliable and cheaper. There are techniques to store grains indefinably, where the food loses none of its nutritional value.
It makes so much sense to utilize that technology.

From what I understand this country has two weeks supply of energy and food in the event of exports being cut off. This system is foolish and we were made to regret it after the start of WW2 when the Germans took out our shipping and rationing was enforced. There is a chance we (as a nation) may regret it again. The sad thing is that with a bit of planning foresight and the sensible use of tax pounds these issues are avoidable.

[traderabc] 18/6/2011 10:35

Balt are any of yours this clever?



Udder Genius: Daisy The Cow's Great Escape

A farmer whose herd of cattle kept escaping each night had a shock when he installed CCTV - only to discover it was an inside job.

[michaeld] 17/6/2011 22:55

Yes Trader; re post 2728. Currently the emphasis of farming subsidies, via the EU, is not to grow more food but to provide a wonderful environment for wildlife. Is that wise with the likelyhood of Worldwide economic disaster looming; half the Worlds population undernourished and an increasing 'balance of payments' problem in the UK?
From a farmers point of view these subsidies are wonderful as they counterbalance the buying monopoly of the supermarkets that have tended to drive down agricultural commodity prices at the farm gate to uneconomic levels. I say get rid of these subsidies and return to the old post war marketing board system that ensured that farmers received a fair price for their produce. Most of the UK's increasing contributions to the EU are spent on these unproductive ag subsidies; some of which we get back and it's a crazy system that we cannot escape from without leaving the EU or changing our relationship with it. I really hope that the 'Euro' implodes into chaos and that this leads to a break up of the EU as it is presently set up. A friendly trading block between the European countries is fine but an undemocratic United States of Europe run by a gravy train of bureaucrats, multi national companies and merchant banks is not imho.