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[invisage] 26/4/2020 13:04

Bank of England holds lots of gold

[chestnuts] 26/4/2020 12:59

Invisage

Once the contagion starts it will take most of the big banks out,

Hsbc

Gets most of its profits from Hong Kong and asia , The real estate bubble as burst already so this is why its my favourite bank to go bust and yes it probably is one of the biggest banks which are short on gold.

This is why i think the Uk government will nationalise all the banks in the near future, i dont think the people will stand a bail out or a bail in, so they will not have a choice.

And i hope this time a few go to prison, but they will say the system allowed us to do it. Lets face it the system as been broken from the day it was setup.

[invisage] 26/4/2020 12:52

Which banks have the most exposure to Gold . i.e. they have sold Gold contracts but won't be able to deliver?


Is it HSBC? I think you are very bearish on HSBC? Is this the reason you think the banks will go bust as they won't be able to deliver on their gold contracts?

[chestnuts] 26/4/2020 12:43

Invisage

I would think there is to much upward pressure in the market, but i did put that pattern on to show its not easy to decipher charts, put it another way, am i selling gold, not a chance. would i short gold not a chance, if the banks decided to short paper gold down as a desperate act to see if they could close out some of the long positions asking for delivery i think they would just make things worse as there are a lot of people watching gold. Waiting to pounce.

[invisage] 26/4/2020 12:27

Gold hit $1770 on Thursday and came back... Chestnuts do you think the bearish scenario below could be in play ?




chestnuts - 19 Apr 2020 - 23:36:14 - 9156 of 9264
CHARTS - CHAR
On gold their is another pattern and its a bearish pattern

1921.6 down to 1045 A wave
1045 upto 1749 B wave

1749 down to 876 = C wave

A wave and C wave are =

This is a zig zag pattern and i have been looking to see if this would happen, thats the problem with charting their is always possible negative pattern

[chestnuts] 26/4/2020 10:38

Invisage i was pleased with my call on the dow at 29396 and top at 29568 pretty close

[chestnuts] 26/4/2020 10:37

Invisage

1792.25 when usa dollar was born and gold set at $19.39

2020.55 21st July one of my dates but i have said data from and 200 yrs might not be as accurate so any thing between June 1st and end of Aug i will call a good call.

[invisage] 26/4/2020 10:00

Decent call

chestnuts - 22 Dec 2019 - 16:41:51 - 82809 of 87516
The Really Useful Silver thread - AG


Been looking at the dow and using fib and the golden section we could be near a top at 29396 so not far to go,
Also if you look at the usa debt clock it is nearing 2,36 trillion i reckon it should get there about the end of January.

Hope every one as good xmas

[invisage] 26/4/2020 09:58

Can you explain why you have used each of these numbers



1792.25

2020.55

[chestnuts] 26/4/2020 09:53

Heres another ratio

1792.25 divided by 2020.55 = .887

Now if we divide 2020.55 with 1792.25 = 1.1273

If we then 2020.55 - 1.1273 = 2019.422= 3rd of june last yr this to me was the start of wave 5 upto this point was a truncation

another ratio gold bottomed 2nd of Dec 2015 and so the cycle to July 19th 2020.55 is 4.65 yrs

1.1273 divided by 4.65 = .243

88.7 = .243

This is the cycle from 21st of April to

Lets see how this goes on.

[chestnuts] 25/4/2020 23:41

Invisage

The trouble is with books is that if they were correct all the time it would be easy to predict tops and bottoms after all when i pointed that this yr would be really bad for the markets every one thought i was mad albeit it was 10 yrs ago , in the past well even now if i mention that it might be a good idea to buy gold as the markets could crash and we could be heading either for a reset or hyperinflation people glaze over. It wont be until the last month of the markets crashing that gold will take off in the panic .

When i saw on the news that the chinese closed down Wuhan, i heard the bell ringing and i started buying extra food and i will keep my supplies just in case, i told a few people and some of my very close friends who i told about that the collapse in 2007 was coming they listened and have bought extra food and supplies but i have been ridiculed a couple of time , but each of them appologised and some have even bought gold, its going to get very messy in the future. So if you havent bought any physical it might be a good idea.

[invisage] 25/4/2020 23:11

According to the GANN book I am reading it states


March 20 to March 27. Minor changes occur around this date and sometimes major tops and bottoms occur on this date.


23rd March was a major bottom this year.


The next date to look out for is in May


May 3 to 10 and 21 to 28. The changes this month are of great importance as those that occur in January and February, and many major tops and bottoms have occurred around these dates in the past and change in trend has taken place

[chestnuts] 25/4/2020 23:10

Invisage

I think you will see big movements on every thing as forced sellers there will be buyers, it will turn in to chaos before they will reset, thats what i think will happen so make sure you have plenty of food in your house and some cash as money in the bank will be frozen if i am right. The powers at be will blame covid but the real culprits is the system.

[invisage] 25/4/2020 22:49

Yes but if these countries sell gold the gold price will drop.

[chestnuts] 25/4/2020 22:10

Invisage
This is where with everything in such a mess they will press the reset button

==============What about the oil producing countries that have dollar liabilities and are short of dollars as they getting less for their oil now so need more dollars to pay their liabilities?

Will they have to sell their gold to pay for their dollar liabilities?========================

[invisage] 25/4/2020 21:55

The bear market low for the SPX at 666.79 in 2009. It has an exact square root of 25.82. Going back 258.3 months, and we have the August 1987 peak before the crash on Aug. 25.



GANN

[invisage] 25/4/2020 13:51

What about the oil producing countries that have dollar liabilities and are short of dollars as they getting less for their oil now so need more dollars to pay their liabilities?Will they have to sell their gold to pay for their dollar liabilities?

[chestnuts] 25/4/2020 13:18

Anthony / Invisage

I think every one thinks the Dollar is king but as we have seen with Switzerland they have sold a fair chunk out to pay for corona, now its only going to be a short time before all the other countries do exactly the same which will happen in the next few months which will cause urgent action to stabalise the dollar ie go back to some sort of gold standard.

[chestnuts] 25/4/2020 13:02

Invisage

do i do time analysis on gold.

do you not think that seen i have gone back to 1698 when sir isac Newton recoined Britain

And the detail from 1792.25 does this not illustrate that i do.

[invisage] 25/4/2020 12:28

Are you saying DOW and Gold has topped Ando?

[invisage] 25/4/2020 12:27

Would be good if you can write 2 lines with your thoughts on your charts to share what you think Ando? thanks

[andonis] 25/4/2020 10:23

good work chest. As aways tops

[invisage] 25/4/2020 10:21

Are you still long DOW Ando?