some GLD for the conspiracy lunatics

-> Posted by eeos @ 23:20 pm on January 28, 2012

Gold ETF Mass Exodus

Grin

-> Posted by Fullgoldcrown @ 23:06 pm on January 28, 2012

Wow…..If thats a Fractal….its pretty scary….really really Rhymes so far….yikes

Leeb – Fed Game Changer Sparks 2nd Leg of Gold & Silver Bulls

-> Posted by floridagold @ 19:00 pm on January 28, 2012
 

With gold and silver making huge moves after the Fed announcement yesterday, today King World News interviewed acclaimed money manager Stephen Leeb, Chairman & Chief Investment Officer of Leeb Capital Management.  Leeb told us yesterday’s Fed announcement is a game changer that has kicked off a huge second leg in the gold and silver bull markets. 

Here is what Leeb had to say:  “I think what the Fed said yesterday is game-changing.  They are opting for inflation and what really strikes me here, Eric, is they described their dual mandate in terms of employment first and price stability second.  I don’t know any central bank that would put maximum employment in front of price stability.  That’s not the mission of a central bank.  Again, I think this is absolutely a game-changer.”

Stephen Leeb continues:

 “Inflation will be let out of the bag, maybe for the next three to four years.  In this environment gold and silver are the best investments around.  Resistance points on charts don’t even count anymore when you are talking about a game-changing event like this.  We are really talking about the next leg higher in this bull market.  I think yesterday will go down as the beginning of the next major leg higher in the bull market.  This is the leg I expect to take gold to $3,000 before the end of 2012. 

This is a very big change.  Just step back for a moment, the Fed is keeping interest rates at zero until the end of 2014.  That’s almost three years.  This is as aggressive as it gets and as bullish as it gets for gold.  When you are looking at resistance points, that was pre-yesterday. 

Today is a new chapter that starts with the title ‘Inflation is out of the bag.’  So the question becomes where does that take gold?…. 

“Well, look at the 1970s bull in gold.  After inflation really started to assert itself, gold went up another eight fold.

I think this is a critical point, the move we’ve had in gold, over the past decade, has been in anticipation of inflation.  We really haven’t seen gold react yet because inflation is still tame.  We’ve had eleven years of a first leg in gold.  Now we get the second leg and I say hold on to your hats because ultimately you are going to put another digit on the gold price.

This is more compelling than the 70s.  Keep in mind, during the 70s when real rates were decidedly negative for a long period of time gold went up eight fold.  Today that kind of advance would take us well over $10,000.  I maintain what we’ve seen so far is just preparation for what we are going to witness over the next five or six years as inflation ramps.  And once inflation starts to take off it will be very hard to stop.

Remember, China wants to eventually back the yuan with gold.  This is why they have been accumulating massive amounts of gold.  I predict in two or three years you will see oil priced in yuan or some basket in which the yuan is the central currency.  When the yuan becomes the world’s reserve currency they will control the game.

Eric Sprott’s point about the Chinese accumulating gold through Hong Kong is dead on, but China has also been mining a lot of gold.  They have been mining every single ounce possible.  They are in an incredible hurry to accumulate as much gold as they possibly can.

This is all part of the long-term strategy by the Chinese and it doesn’t play to our advantage.  My advice to everyone right now is, yes, gold is going to be volatile, but probably much less volatile, on the downside, than anything else out there and you should definitely own it.  You should also own silver because it’s definitely going into three digit territory.”

kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/1/26_Leeb_-_Fed_Game_Changer_Sparks_2nd_Leg_of_Gold_%26_Silver_Bulls.html

grin @ 18:28 pm

-> Posted by floridagold @ 18:39 pm on January 28, 2012

I know you never worry – you have a great bunker!  :-)

What me worry?

-> Posted by grin @ 18:28 pm on January 28, 2012

Thanks Ipso, Irish et al.

-> Posted by Portugeezer @ 18:07 pm on January 28, 2012

I should of course mention that the banks in Portugal are under instructions from Europe and the government to strengthen their reserves, and this is compounded by the austerity package that we are suffering under.

We have the licences and the €2M EU loan, but the banks still have a moratorium on lending. We are dependent on the EU and the Portuguese government releasing the banks, or instructing them to lend the final €1M that we need spread over 2 years.

We must start construction work in February or the EU loan agreement lapses. So if they don’t lift the moratorium by the end of February, we will have to start the process all over again.

That’s the reality. Here in Europe we are at the mercy of the bankers as they reign in the liquidity.

Regards, Rich (I rolled the dice, now it’s fingers, toes and legs crossed).

Portugeezer @ 15:42 pm

-> Posted by ipso_facto @ 17:27 pm on January 28, 2012

Those are quite the projects you have planned. It’s going to be a first class hotel when you finish. Good luck with it!

ipso

Slowest Time of the week at the tent…Saturday Nite Poll !

-> Posted by Fullgoldcrown @ 16:48 pm on January 28, 2012

Vote Vote Vote

(warning we have a new pollmaster and he aint taking no multiple vote crap neither)

PS….but its ok if you are dead….you can still vote

Portugeezer

-> Posted by Irish @ 16:23 pm on January 28, 2012

Great job my friend….If some of the info I am getting is correct you are on to something….
Sinbad would be very helpful in the design of the building for the handicapped issues…

A guy named Moolman has an interesting Take

-> Posted by Fullgoldcrown @ 16:16 pm on January 28, 2012

picturegoldandsilver.wordpress.com/2012/01/26/silver-to-follow-gold-and-blast-pass-its-1980-high-of-50/

Interesting points on the Euro

-> Posted by Buygold1 @ 15:55 pm on January 28, 2012

I’m just hoping that we are entering a new phase where gold is a beast that takes on a life of its’ own.

You’d think that the Euro would get stronger without Greece, but like Portugeezer said, the German and French banks would take a huge hit. Hard to know if our markets, or any markets for that matter, are pricing in a Greek default. The U.S. market seems like it might be ready for a pause, so maybe a Greek deal is a “sell the news” event?

This latest hit on the USD has been fast and furious. Sinclair did say the top on the dollar would be 82. He called that perfectly.

Terrifying – you’re not wrong!

-> Posted by Portugeezer @ 15:42 pm on January 28, 2012

I am doing things here that make Irish in Belize look like he’s in clover.
If you have a few minutes, have a scan at this site and click on the Risk Assessment.
This was done two years ago, so we can begin to judge my sanity.
Somebody said today that this was the time to be in big debt because inflation will take care of it.
That was my bet – and I’ve put my money where my mouth is.

www.fontebispo.com/

Regards, Rich

Portugeezer

-> Posted by ipso_facto @ 13:54 pm on January 28, 2012

Whichever way it plays out it’s not going to be boring … terrifying for some maybe but not boring.

Cheers

ipso facto 12:59 but but but

-> Posted by WANKA @ 13:46 pm on January 28, 2012

wj

monsantos-gmo-corn-linked to organ failure in rats..

-> Posted by puptent @ 13:30 pm on January 28, 2012

www.huffingtonpost.com/2010/01/12/monsantos-gmo-corn-linked_n_420365.html

Ipso

-> Posted by Portugeezer @ 13:29 pm on January 28, 2012

You say “Seems to be a consensus that a Greek meltdown will hammer the euro, spike the dollar and smash gold. Is this really what’s going to happen?”

Greece would probabaly leave the Euro mechanism, hence: What happens when you throw ballast out of a hot air ballon – clue – the ballon doesn’t fall out of the sky.

Where will the damage be done? Wherever the ballast drops and the fallout spreads.
In this case the French and German banks will take the hit, but the derivative counterparties, the insurance companies, probably UK and NY based will be knocked out.

Unless the French and German banks take a haircut, voluntarily of course! Then the derivatives don’t kick-in and the banks go down. OK, back where we started from.
Another WAG, regards, Rich

floridagold … Wanka

-> Posted by ipso_facto @ 12:59 pm on January 28, 2012

The one thing I do know is that with the US and the Europeans printing money like there’s no tomorrow that holding PMs and PM shares is the best place to be.

The idea that the value relationship between one rapidly inflating fiat currency and another rapidly inflating fiat currency determines the value of real money, gold and silver is really bonkers. Gold and silver should be steadily going up in price against both of them … but then again in the short term, markets run according to what people THINK is going to happen … and everyone is a bit brainwashed.

Wanka … You are the craziest one here! :mrgreen:

Fully, I remember. Excellent times at the INN

-> Posted by Warren @ 12:55 pm on January 28, 2012

Just catching up. The EDR never found it into my bunch but FR, wowser. Wish I had more. And good old ECU: still have what was left as Golden Minerals so you can see buy and hold is in my genes. There was a time when the value of ECU alone (bought at pennies and held up to $ 3.40 and then back down again) was over twice as much as everything I have left combined today. Duh. When do you sell? Never, I guess. Was losing hope that we would ever see that mania again that existed in 2002-2004 when everything seem to go straight up. I remember when my ECU went up on paper in ONE DAY by $ 70K. Didn’t sell a share then. Dummy.

E coming.

ipso facto and RNO -11:17- i’ll witness that too………..

-> Posted by WANKA @ 12:48 pm on January 28, 2012

wj

ipso_facto @ 12:30 pm

-> Posted by floridagold @ 12:45 pm on January 28, 2012

Just no way to know what will happen.  Let’s say that Greece has reached an agreement with private bond holders – no default of course because it was voluntary with the gun against the temple – they are still going toes up.  Just may be a few more months.   Has the markets already priced a Greece default into the price – so, when this deal is really finalized and the can kicked down the road – does the markets go straight up and everyone sells Gold because the big trouble is over.   Is UP really Down?  I am so confused!  :-)