Gold Bul� Discussion Threads

[washbrook] 10/7/2010 21:37

Thanks-OILMANN

[oilmann] 09/7/2010 11:46

Interesting report on US carrier group transiting Suez Canal last week



If search web there is more information on possible military action in middle east. Wars always affect price of gold and oil. As Fred says, everything point to july/august timeframe....

Have good weekend, oilmann off to beach with family and granchildren to sit in shade, drink a few cold beers and ponder

[washbrook] 06/7/2010 22:33

U.S. Austerity Necessary to Prevent Hyperinflation

In NIA's latest economic documentary 'Meltup', we said that the simple act of the U.S. government eliminating its $7.25 per hour minimum wage and implementing a new $7.25 per hour maximum wage for government employees, would go a long way in helping rebalance America's unstable economy. NIA is very pleased that California Governor Arnold Schwarzenegger appears to have watched Meltup. Schwarzenegger last week announced plans to cut pay for over 200,000 state employees down to the minimum wage of $7.25 per hour due to a budget impasse.

Although most expect these salaries to rise back up after California passes a new budget, NIA believes the only way California will be able to survive without a bailout from the Federal Government, is if these wage cuts are made permanent. In fact, if the U.S. government wants to have any hope of preventing and/or delaying hyperinflation from occurring by the year 2015, we believe the Federal Government will need to implement similar wage cuts on a nationwide basis within the next 24 to 36 months.

Both the U.S. dollar and Euro experienced a decline in their share of the world's foreign-exchange reserves during the first quarter of 2010. Meanwhile, central banks reported a 19% increase in the "other currencies" category, which includes currencies like the Canadian dollar and Australian dollar. While many European countries are now making the right choice of implementing tough austerity cuts to counteract weakening demand for Euros, there have been no calls for major austerity cuts in the United States. Before long, NIA expects short-term confidence in the Euro to be restored, which could turn the U.S. dollar short-term bounce into a huge crash, exactly like NIA predicted in its top 10 predictions for 2010.

The U.S. is currently in a death spiral of accelerating national debt growth, endless deficits, and soon to be skyrocketing interest rates and massive price inflation. Beginning in late-2010/early-2011 as confidence is restored in the Euro and the spotlight is put on the U.S. debt crisis, NIA expects to see a dramatic rush out of the U.S. dollar that will accelerate going into 2012. A select group of educated Americans who reach the exit door first will become the wealthiest Americans of the future, while the rest of the country sees the purchasing power of their savings disappear.

Despite what the U.S. government would have you believe, deflation is a good thing. Our country was able to survive the Great Depression of the 1930s because we were lucky enough to have across the board price deflation. Shockingly, even back then the U.S. government took unprecedented measures in order to battle some areas of price deflation, which NIA believes prolonged the Great Depression.

During the Great Depression, the U.S. was faced with overproduction of agricultural commodities due to technological advances made during the Roaring Twenties. The one problem no American should have had at that time was finding food to eat. However, rather than let Americans eat cheap food, our government compounded problems by enacting the Agricultural Adjustment Act, which paid farmers to destroy their crops in an attempt to artificially raise agriculture prices. This led to millions of Americans overpaying for food and nearly starving to death.

The one problem no American should have today is finding shelter. The agriculture overproduction during the early years of the Great Depression pales in comparison to the overproduction of new homes the U.S. experienced this past decade. Rather than let Americans enjoy affordable housing, the U.S. government once again implemented wasteful policies such as the $8,000 home buyer tax credit in an attempt to artificially prop housing prices up. There are now hundreds of thousands of Americans who are "squatting" in homes, by occupying homes they neither own, rent or have permission to use.

Deflation is good for all Americans because it increases the purchasing power of their U.S. dollars. There were no good reasons for Americans to have gone without food during the Great Depression and to be squatting in homes today. These problems were created as a direct result of the government's interference in the free market, as part of their ill-conceived war against deflation. If the government simply got out of the way, food would have been affordable for all Americans during the Great Depression and housing would be affordable for all Americans today.

NIA believes it is important for the government to also get out of the way when it comes to wage controls. NIA frequently tells young people that the best way to start a successful career in the U.S. is not by getting deeply into debt to attend college, but by immediately entering the workforce and gaining first hand knowledge and experience. Without a minimum wage, a recent high school graduate who wants to start a career in the oil drilling industry, could write letters to the CEOs of oil drilling companies offering his/her services for just $5 per hour. Under current labor laws, this would be illegal, even though the high school graduate would be receiving an education that is far superior to what he/she would receive in college.

NIA's biggest fear is that the U.S. government will implement price controls during hyperinflation, by ordering stores to sell goods at government mandated prices. A couple months ago while NIA was producing Meltup, an event took place just outside of a major U.S. city that demonstrates just how devastating price controls will be on the lives of all Americans during hyperinflation. This story was largely ignored by the mainstream media, but NIA is currently producing a video that will expose the significance of what took place inside of our very own country. We will be releasing this shocking video later this month.

Please continue to spread the word about NIA by telling your friends and family to subscribe for free at:

[washbrook] 04/7/2010 10:22

Prepare for more US printing.

[washbrook] 03/7/2010 22:07

ECRI INDICATOR a warning.

[oilmann] 02/7/2010 11:49

Washbrook - you are welcome. We live in interesting times and good research is invaluable.

Here is a chart of Cable with comments, (daily updates usually about 8am) from Nicole Elliott, a professional technical analyst with Mizuho Bank :-

www.mizuho-cb.co.uk/TresInternet/PDF'S/gbp.pdf

and her TA page:-

www.mizuho-cb.co.uk/TresInternet/TECHNICALS/FX_-_Sterling.htm

[washbrook] 02/7/2010 10:44

oilmann-thanks for your post.

[oilmann] 01/7/2010 22:30

Interesting discussion of BP, their Credit Default Swaps and possible global effects of bankruptcy

[washbrook] 28/6/2010 11:39

The widening US DEFICIT GAP:-

[oilmann] 27/6/2010 20:50

Two articles by Clive Maund

Gold



Siver

[washbrook] 24/6/2010 08:47

GOLD AS MONEY SPECIAL REPORT.

[oilmann] 21/6/2010 11:38

Washbrook thanks for your comments.

FT is running a story this morning about Saudi Arabia announcing a doubling of gold reserves. It now looks like CB's will be net buyers this year for the first time in decades. Also, HSBC announced last week they are building new gold vaults in London, apparently their current vault is full....

And lastly, 17 more reasons to own physical gold

[washbrook] 20/6/2010 13:53

For those who are interested in ELLIOTTWAVE.
Free web site.
A different view than PRECHTER

[washbrook] 18/6/2010 22:07

oilmann.THANKS I Like your input

[oilmann] 18/6/2010 16:17

Russia and Phillipines CB diversify forex reserves to gold - from fastmarkets.com


"European central banks sell tiny 1.8 tonnes of gold so far in CBGA 3; bulk of sales under IMF


London, 18 June 2010 - European central banks have sold a mere 1.8 tonnes so far in the first year of the current Central Bank Gold Agreement (CBGA) which began on September 27, 2009 - the bulk of sales were undertaken by the International Monetary Fund, the World Gold Council said on Friday.

The IMF has sold 38.7 tonnes since mid-February, and the WGC expects it to sell at at a similar pace this quarter, the WGC said in a release.

Under the third five-year agreement, announced on August 7 and initiated on September 27, the annual sales quota was lowered to 400 tonnes from 500 tonnes previously, signalling that European central banks lack selling appetite with doubts over economic prospects raising the allure of gold as insurance against further currency depreciation.

The IMF held 3,005.3 tonnes of gold at the end of March - it sold a total of 212 tonnes in the first tranche of its planned 403.3 tonne sale to the Reserve Bank of India, Bank of Mauritius and the Central Bank of Sri Lanka, the WGC said.

Total sales during CBGA2 were 1,883 tonnes - 617 tonnes below the maximum permitted sales during the five-year period of 2,500 tonnes.

Outside of the agreement, the main purchases reported over the last quarter have been by Russia and the Philippines, both of which have long-standing gold buying programmes, the WGC said.

Russia added 34.2 tonnes, or 1.1 million ounces, of gold to its official sector holdings during May, bringing total holdings to 22.6 million ounces, or around 703 tonnes, data from its central bank website showed on Friday.

Meanwhile, The Philippines central bank bought 9.5 tonnes of gold in March, taking its gold holdings to 164.7 tonnes or 13.7 percent of total reserves"

As gold hits new record in $ og $1260, have a nice weekend!

[oilmann] 17/6/2010 21:25

Gordon Harms website is worth a read too

www.stockmarket-ta.com

Impressive technical analysis in ppt format with monthly updates, thinks now may be a favourable entry point but failed to predict the 2008 crash. The other point of view to Fred's

[washbrook] 15/6/2010 12:10

Thanks oilman.
an interesting web site.

[washbrook] 15/6/2010 12:08

Got an email from Fred Stafford, I have been to several of his seminars, a gentleman.:-

[oilmann] 14/6/2010 12:40

ECRI have an excellent track record at predicting major recessions


Gold - Detailed fundamental analysis aimed at commercial and industry players



Friday's technical analysis charts, support and resistance levels

[washbrook] 13/6/2010 16:22

LEADING INDICATOR:-

[washbrook] 11/6/2010 15:29

REASONS TO HOLD GOLD

[oilmann] 10/6/2010 14:27

Washbrook

Gold is very volatile so may possibly retrace to $800. But with central banks no longer selling (Russia, China and India now accumulating) and big players like Paulson, Faber, Rodgers and HM the Queen holding huge physical positions with strong hands it seems unlikely. Who is this guy Precter, is he short gold and doing a bit of de-ramping?

Without getting into a discussion about past market manipulation it might be that $ index is going up because ECB, BoE etc are printing money faster than Fed, and since Dow went down 12% in 2 minutes recently people have been selling stock and repatriating $.

I dont trust Fed, politicians or banksters who have ruined world economy with enormous debt and derivatives and owning physical gold in vault let me sleep at night. If Gold went to $800 I would double my holding and tanks!

[washbrook] 09/6/2010 21:48

THE WORLDS
BILLIONARES
Richest English
Gerald Grosvenor(Cheshire)

[washbrook] 09/6/2010 21:38

Great Site:-