Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
This in 1972 was the start of the current 4 trillion $ A DAY forex mkt....It also caused the death of gold with tricky dickie...
http://www.cato.org/pubs/journal/cj8n2/cj8n2-7.pdf
overandout:
excerpt quote was from Big Dan....
http://www.traderdannorcini.blogspot.com/
He's been around 20 years.. got him beat 1982....cbot/cme/imm/cboe. end of story....
Fear!!!!!!!!!!!!!!!!!!!!
Gold did stall out near the $1590 level this week and was unable to initially punch through this level and MAINTAIN it as it tried on 4 separate occasions on the chart shown below yet failed each time. Today it did not. It closed the pit session above that level (barely) but as the afternoon trading on the screen continued, the market garnered additional buying that took it out on the high of the day and pushed it solidly above the $1590 level. What strikes me as noteworthy is that this development in the market occured on a Friday afternoon, a day during which we can normally expect to see profitable long positions see some liquidation as those traders pocket some of their winnings and head into the next week with money in hand to await their next move. They did none of that once the trading rolled into New York. They bought more instead. The overnight dip down toward $1575 was all that they could get as far as a break in price before they realized that this market was not going to let them in at a better level. The result was that a steady stream of buying kept coming in from both frustrated shorts and from eager bulls that keep the bids flowing all throughout the entirety of the session.
What I take away from this as a student of the markets and of the chart patterns is that FEAR and CONCERN is rising. This fear is being reflected in the price action in gold. There seems to be a growing consensus that the problems affecting the economies of many nations of the West are too complex, too deep-rooted, too structural and too ingrained to prevent any short-term, transitory fix. An unnerving realization is fast taking root in the minds of investors that the West is in serious, serious trouble and the cure is going to entail measures which are going to result in severe social dislocations within their respective nations. Divisions along financial lines are going to occur as a result causing severe political pressures among politicians representing diametrically opposing segments of the population. I personally see a very strong likelihood that we are going to witness riots in our streets in the major urban areas here in the US. Imagine the fault lines that are going to be revealed in the nation when once that occurs.
Again, this is not to try to paint the worst possible picture of finanical mire that many nations of the West are currently quamired in. It is however an attempt to translate the price action in gold to the underlying sentiment that is taking hold of investors' minds. There is a growing suspicion or should I say, lack of confidence in the fiat currencies of the US, Great Britain and the Euro zone and in their respective monetary authorities and political leaders. Gold is signaling that things are going to be getting worse before they get better. A close over $1650 and things could intend turn very ugly on the social front.
like to see 40% over old high.
buy me out abx..
they'll wack au today.. options expire.
more talk on gold standard..
just revalue it....
http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/8638644/Return-of-the-Gold-Standard-as-world-order-unravels.html
we do not need a gold standard, we need a revaluation off the 42.22 bis price!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
driving in fog:
Da fed..... anddddddddddddddddd the media uses transitory compliance.....
stay focused!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
hahaha here we go... it's gonna blow!!!!!!!!!!!!!!!!!!!!!!!
go to your bunker!!!!!!!!!!!!!!!!!!!!
now 1595
gold.
http://www.financialsense.com/contributors/ron-hera/interview-jim-sinclair-on-gold-and-the-world-financial-system
Gold will be revalued!!!!!!!!!!!!!!!!!!!!!!!!!!
Bankers and political clowns and corrupt brokers with their scumbag legal compliance depts have created vehicles such as etfs' that steer u away from real cos' that produce gold/silver.....
paper i.o.u.s are garbage
THE CHEESE STANDS ALONE.... any talk of sdrs' with a basket of fiats' backed by gold is not standing alone.....
REVALUE GOLD NOW !!!!!!!!!!!!!!!!!!!!!!!!!
cgfia should now flood the news imo... with updates.....
like nike cage.. national treasure... mine it now!!!!!!!!!!!!!!
bring back the constitution.. no more using it as an option...
real money for real people, not slugs and scumbag lawyers....
end of story.
spot 1582. now 1588
they will hammer $ now.
watch gold go thru 1600....
1600.00 fast mkt
gold near 1580, need to punch thru to 1600 now.. then 1650.
Qe3 will cause super inflation.... does not matter hold swiss francs and gold physical....
cgfia could value its' gold in yuan..... not worthless $$$$$$....
look down under....
pun intended...
http://www.theaustralian.com.au/business/mining-energy/its-yuan-for-the-money-for-twiggy-forrest/story-e6frg9df-1226093397794
looking for 4.50 now
gold 1580-1600 -- Monday, July 11, 02:41:59am [1]
target.
you've seen nothing yet!!!!!!!!!!!!!!!!
here's some good news for cgfia....
http://www.bloomberg.com/news/2011-07-05/south-african-gold-mines-face-strike-as-labor-union-rejects-salary-offer.html
let em strike...
7-15 no more otc contracts for unregulated au/ag...
7-15-2011 u will see cut off of otc metals......
Andrew Maguire, the famed “silver short” whistleblower, is interpreting the dynamics very differently indeed.
In an interview with King World News, he told the broadcaster that the flows could actually be indicative of something else. The pull of physical gold out of western exchanges and into Asia.
As he explained:
“Lots of people say, well look at the SLV, look at the GLD – look at how people are capitulating. Look how the gold and silver market is being sold off. Wrong. Think about it this way. If you want to buy cheap gold and silver, what do you do? You simply look for any above ground stores, i.e. SLV or GLD and you go and buy 50,000 shares of SLV , for example, and then you literally redeem them for a Comex price. Where else can you get above ground silver or discounted paper prices in size? A lot of analysts have been saying “look how negative this is” when in fact it’s the exact opposite. That metal is moving into some very strong hands and disappearing into vaults in the eastern hemisphere.”
He specifically notes the importance of the soon to be opened Pan Asia gold exchange, an Agricultural Bank of China venture.
The physical-backed exchange plans, among other things, to offer bullion contracts priced in Chinese renminbi. The RMB contracts will also be available to international investors, as agreed by the State Administration of Foreign Exchange (SAFE), and contribute to a new Beijing gold FIX price.
In Maguire’s opinion, this could make all the difference when it comes to demand — especially if it was properly factored into forecasts by analysts.
As he notes:
Just look at the scale of this to get an idea of how massive this game-changer will be, The Agricultural Bank of China has over 320 million retail customers and 2.7 million corporate customers and has integrated its customer account information system with this platform.
By creating the first ever rolling spot contract, Chinese bank customers will for the first time have ease of access to 10 ounce gold contracts in Renminbi directly from their bank accounts and with the click of a mouse.
To give a further idea of scale, if just 1% of their customers bought a single 10 ounce contract, that would equate to 1,000 tons of physical gold being drawn down….
greeks can't sell au sooooooooooooo just revalue it clowns....
http://www.mineweb.com/mineweb/view/mineweb/en/page72068?oid=131116&sn=Detail&pid=102055
swiss cheese..
gold stands alone, cheese...
cgfia next!!!!!!!!!!!!!!!!
http://www.marketwatch.com/story/swiss-parliament-to-discuss-gold-franc-2011-07-07?link=MW_popular
this is a START to stop the criminal naked short sellers.
http://www.bloomberg.com/news/2011-07-10/consob-may-ban-restrict-naked-short-selling-at-meeting-sunday-night.html
and yes it does effect cgfia...and allllllllllllllll small businesses!!!!!!!!!!!!!!
pigs could be brought back to life... just revalue it BIS @ 4,222.00 end of story...
http://www.mineweb.com/mineweb/view/mineweb/en/page33?oid=131014&sn=Detail&pid=102055
diehards in denial.. DD.... ya do your DD.... diehard in denial.... gold will be 4,222.00 soon.... what jackass wouls sell cgfia under 1.00... diehard clown....
http://news.silverseek.com/SilverSeek/1310056086.php
it's coming..
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/7/6_Whistleblower_Maguire_-_This_Will_Destroy_Gold_%26_Silver_Shorts.html
Whistleblower Maguire - This Will Destroy Gold & Silver Shorts
July 6, 2011
This morning London whistleblower Andrew Maguire told King World News that the launch of the new gold and silver exchange in China will destroy the remaining gold and silver shorts.
Maguire stated, “The launch of this new gold and silver exchange has flown under the radar, but certainly has my attention. I firmly believe we are marking a pivotal point that will in very short order affect current precious metals price discovery dynamics. We now have an additional factor to be vended into the supply demand equation. This factor will ultimately destroy the remaining short positions in both gold and silver.”
Maguire continues:
“China is keen to diversify their cash holdings and is also encouraging citizens to make investments in gold and silver. The Pan Asia Gold Exchange is another step in this direction by opening up ease of access to physical gold and silver to their bank customers. This physical backed exchange is going to be a big game-changer.
Just look at the scale of this to get an idea of how massive this game-changer will be, The Agricultural Bank of China has over 320 million retail customers and 2.7 million corporate customers and has integrated its customer account information system with this platform.
By creating the first ever rolling spot contract, Chinese bank customers will for the first time have ease of access to 10 ounce gold contracts in Renminbi directly from their bank accounts and with the click of a mouse. To give a further idea of scale, if just 1% of their customers bought a single 10 ounce contract, that would equate to 1,000 tons of physical gold being drawn down....
“The impact on the price of silver will be even more pronounced. Silver is a much smaller market and already in tight supply. If just 1% of Agricultural Bank of China customers buy 500 ounces of silver, that would require 1.6 billion ounces of silver! I believe the leveraged and naked existing short side concentration in silver will be blind-sided by this. In my opinion it will create a massive short squeeze.
None of this potential new physical demand has been factored in by analysts and I expect a large and unanticipated drawdown of physical gold and silver over the next few months, ahead of the international contracts going ‘live.’
One of the key points here Eric is that many of these shorts are naked and heavily leveraged. Thus for every physical ounce of gold and silver taken out of the physical market and into this new exchange in China, it will force many multiples of that to be covered in the paper market.”
The Bank of International Settlements (BIS) has changed, or revised, their silver derivatives data in their derivatives reports. The change took place between their June, 2010 report, and their December, 2010 report, for the period of June, 2009. The change was from $203 billion in "other precious metals" liabilities, changed down to $93 billion.
The change took place, in Table 22A: Amounts outstanding of OTC equity-linked and commodity derivatives, By instrument and counterparty, in the category of "other precious metals", for June, 2009, Notional amounts outstanding.
In June, 2009, the silver price was about $15/oz.
http://www.silverseek.com/quotes/5silver.php
This means that the $203 billion silver liability divided by $15/oz. shows that all the banks in the world that are tracked by the BIS owed 13.5 billion ounces of silver.
But the entire world silver mining production is only about 700 million oz. of silver annually, so this is an admission that the banks owed about 19.3 years worth of world annual mine production of silver.
http://news.silverseek.com/GoldIsMoney/1309983136.php
why gold moves.... it's called churn and burn and it creates comm. duke & duke....
It also is the currency of choice and no one countries liability....
http://www.zerohedge.com/article/daytraders-account-over-90-volume-price-formation-es-crude-gold-and-silver-futures
Why cgfia will run:
#1. name.
#2. location/mill/reserves
#3.http://www.marketwatch.com/story/7-reasons-us-needs-a-good-depression-now-2011-07-05?link=MW_story_popular
go mdw!!!!!!!!!! 2.12 soon...
one of the little pigs down graded.
wait till of of the bigger pigs falls... gold will go crazy!!!!!!!!!!!!!!!!!!!!!!!!!
cgfia is freedom!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
"Of those 56 who signed the Declaration of Independence, nine died of wounds or hardships during the war. Five were captured and imprisoned, in each case with brutal treatment. Several lost wives, sons or entire families. One lost his 13 children. Two wives were brutally treated. All were at one time or another the victims of manhunts and driven from their homes. Twelve signers had their homes completely burned. Seventeen lost everything they owned. Yet not one defected or went back on his pledged word. Their honor, and the nation they sacrificed so much to create is still intact...
the cheese stands alone!!!!!!!!!!!
The future of cgfia!!!!!!!!!!!!!!!!!!!!!!!!!!!!
start stamping them out. cgfia
http://www.dailymail.co.uk/news/article-2010145/Gold-Go-vending-machine-opens-Westfield-shopping-centre.html