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XAU/USD & XAG/USD - Gold & Silver Traders Thread

  • #14,501
  • Dec 15, 2011 3:43pm Dec 15, 2011 3:43pm
Quoting Bemac
Hey Rav. Nicely done.
Can I ask what your Demo Account Deposit Currency is?

B
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #14,502
  • Dec 15, 2011 3:47pm Dec 15, 2011 3:47pm
Quoting Sreym33
Is this PPT like Sector 7 from Transformers? LOL

The issue for me is whether people are denying this group exists. Amazing what "skeptics" will do to ignore basic historical facts.

Here it is folks, straight from the government. The secretive and mysterious Working Group (later dubbed the PPT).

http://www.archives.gov/federal-regi...der/12631.html

This kind of activity goes on all the time. CFTC policy specifically states that the goal is functioning markets, not free or fair markets. Manipulation and fraudulent behaviour merge.

As I said, plenty of evidence of this kind of activity (in a more broad sense).

For example:

http://www.newyorkfed.org/aboutthefe...int/fed04.html

So before you jump on the "oh those crazy conspiracy theorists" bandwagon, use Google. It's easy as 1, 2, 3.
  • #14,503
  • Dec 15, 2011 4:25pm Dec 15, 2011 4:25pm
Wondering about Crude as a general thermometer of fit hitting shan.... And also currently wondering about going longterm short (again) from present levels with sl above 115....thoughts please if you have any that you would like to share...

But also got one eye on the pleasantries being exchanged between Iran and the USA...and if the rumor that popped up last week, ie closure of strait or Hormuz becomes a reality then surely at that time it will be time to quickly load up on some black gold? Target +150?. Thoughts please ......... as I have had only a year or less even watching crude.. had some great profits from Oil though tbh, far more than losses, far less stress than gold, but at same time I have never analysed Oil that much, I have only ever looked and thought hmmm cheap, buy, or hmmm high and sold, funnily enough it has been right on the money 95% of the time....but then I trade it with far less frequency than yellow metal, But looking to get your thoughts and expand knowledge..
Your thoughts on any Gold/Black Gold correlation (historical/present) would be much appreciated...
  • #14,504
  • Dec 15, 2011 4:27pm Dec 15, 2011 4:27pm
Quoting lilpip
In preperation for NY.
Rotation up from silver thur. daily lows 27.85-28.00 area is noted.
gold up from major timeframe support 1551-1555 area.
Retest of wed. daily breakout is 1593 not the 95 area that I missed calculated yesterday.
In hindsite her mannerism this week, monday had 1 15 min. bar above breakout retest, and tue. breakout retest 1642 spent no time above as she turned around there and continued south.
MY eyes are on wed.daily low breakout 1593 area.
Response on the retest of 1593 is noted.
Most of the time the trend continues on a daily breakout, and even more so when the breakout is tested and confirms with a hold.
However, I dont trust her, she may be up to some shenanigans as were dealing with the higher timeframe rotations, findings support for next year or at least getting in position to start the new year and quarter.
friday
1668-70
1605-15
1537-42
  • #14,505
  • Dec 15, 2011 4:53pm Dec 15, 2011 4:53pm
Quoting Pbh
I have been analyzing a lot about this subject: Goldand I think that the only reason gold is real money isn't actually that it is "safe-haven" but is because it's against the USD. Even though it's hard to explain, so looking at it the easy way... Gold -Opposite- USD, that's what I always heard, but never understood until today.

The only reason gold has been in such an uptrend for around 11 years is that the US has been basing their monetary policy on fake results, that were shown on USD printing... that made prices go higher, and...
PBH

Welcome to gold.

Some very important points:

1. Gold is not real money. Anybody that thinks it is should try to use it online or to buy something at Walmart.
2. Gold is a commodity. The 12 year gold bull is very strongly correlated to the global commodity bull.
3. All commodities are primarily traded against the USD. The inflationary effect is real but its importance is exaggerated. An 80% increase in the price of gold from its 12 year low is about right. The other 420% or so is due to other factors.
4. The likelihood that we will return to the gold standard or gold is about zero. People who advocate this do not understand that return to the gold standard would create a defacto one world currency. They also grossly underestimate the practical difficulties. Just as tieing the monetary systems of Greece and Germany suffer from a mismatch of economies, tieing the US economy with India and China is just not going to work.
Kill the ego, or it will kill the mission.
  • #14,506
  • Dec 15, 2011 5:05pm Dec 15, 2011 5:05pm
Quoting Wheels
The issue for me is whether people are denying this group exists. Amazing what "skeptics" will do to ignore basic historical facts.
Dude, I believe you... just having a little fun. But Sector 7 is out there.
  • #14,507
  • Dec 15, 2011 5:18pm Dec 15, 2011 5:18pm
Quoting Sreym33
Dude, I believe you... just having a little fun. But Sector 7 is out there.
Don't let me ruin your fun.

Just making the record clear - not a whack job conspiracy theory, a real thing.

Amazing how many financial experts say this is a conspiracy theory when it would take two minutes to confirm its existence (on a government website, no less).

Kinda makes you wonder why people are so convinced it's a conspiracy.
  • #14,508
  • Dec 15, 2011 5:22pm Dec 15, 2011 5:22pm
Plunge Protection Team: No Different Than Santa and the Tooth Fairy?

http://seekingalpha.com/article/2873...he-tooth-fairy

Oh geez next thing ya know they will say Sector 7 is fiction, darn.

Is nothing sacred? I really wear out this emoticon.
  • #14,509
  • Dec 15, 2011 5:25pm Dec 15, 2011 5:25pm
Quoting Wheels
Don't let me ruin your fun.

Just making the record clear - not a whack job conspiracy theory, a real thing.

Amazing how many financial experts say this is a conspiracy theory when it would take two minutes to confirm its existence (on a government website, no less).

Kinda makes you wonder why people are so convinced it's a conspiracy.
Best trick the devil ever pulled was convincing the world that he did not exist.

Best place to hide anything is in plain sight.
  • #14,510
  • Dec 15, 2011 5:26pm Dec 15, 2011 5:26pm
Quoting AaronWard
PBH
3. All commodities are primarily traded against the USD. The inflationary effect is real but its importance is exaggerated. An 80% increase in the price of gold from its 12 year low is about right. The other 420% or so is due to other factors.
So ballooning debt is not a factor?

80% of the 12 year low is due to inflation? Where do you get this figure?
  • #14,511
  • Dec 15, 2011 5:30pm Dec 15, 2011 5:30pm
Quoting SunTrader
Plunge Protection Team: No Different Than Santa and the Tooth Fairy?

http://seekingalpha.com/article/2873...he-tooth-fairy

Oh geez next thing ya know they will say Sector 7 is fiction, darn.

Is nothing sacred? I really wear out this emoticon.
I prefer the government link to Executive Order 12631--Working Group on Financial Markets.

Lol.

Just because crazy people make up stories about this entity, we should not assume it doesn't exist (or didn't anyway).

  • #14,512
  • Dec 15, 2011 5:32pm Dec 15, 2011 5:32pm
fri. silver daily
31.67
29.85
27.75-80

gold 4hr
1593
1574
1557
silver 4hr
stay above 29.31-35 area.
  • #14,513
  • Dec 15, 2011 5:59pm Dec 15, 2011 5:59pm
Quoting LasVahGoose
This simply isn't true. Just about every country has gold coins with a dollar value and legal tender for purchases. I won't get into it with the other points tonight.
According to this argument paper is also legal currency as is nickel and zinc.

I think I will take my notebook to walmart and write a few IOUs on the Paper... which is legal tender.
Kill the ego, or it will kill the mission.
  • #14,514
  • Dec 15, 2011 6:00pm Dec 15, 2011 6:00pm
Quoting LasVahGoose
This simply isn't true. Just about every country has gold coins with a dollar value and legal tender for purchases. I won't get into it with the other points tonight.
Agreed. Not sure why the ECB has 10,000 tonnes of gold if it doesn't have monetary value. Banks don't typically store commodities in their reserves if they aren't money. Ever hear of a bank storing copper?

Check this out - for all those who call the silver bugs conspiracy theorists.

Scientific American actually puts below ground silver as having until 2029 at current production levels (not quite 2020). Recycling will extend the amount of silver available for decades beyond, but hard to imagine price will be containable when this becomes a reality and the "easy" silver is gone. Just like oil, mining will have to resort to more expensive methods to obtain what silver remains.

Hold on to the physical for the long term and ignore the noise.

http://www.scientificamerican.com/ar...w-much-is-left
  • #14,515
  • Dec 15, 2011 6:00pm Dec 15, 2011 6:00pm
Furthermore, money is supposed to be a store of value. When inflation takes hold, fiat currency loses its place.
  • #14,516
  • Dec 15, 2011 6:01pm Dec 15, 2011 6:01pm
Quoting Wheels
So ballooning debt is not a factor?

80% of the 12 year low is due to inflation? Where do you get this figure?
5% inflation compounded over 12 years. You can argue for more or less, but basically this is about double the official figures.
Kill the ego, or it will kill the mission.
  • #14,517
  • Dec 15, 2011 6:03pm Dec 15, 2011 6:03pm
Quoting Wheels
Furthermore, money is supposed to be a store of value. When inflation takes hold, fiat currency loses its place.
To be replaced by yet another fiat currency. Read some history.
Kill the ego, or it will kill the mission.
  • #14,518
  • Dec 15, 2011 6:05pm Dec 15, 2011 6:05pm
Quoting Wheels
Agreed. Not sure why the ECB has 10,000 tonnes of gold if it doesn't have monetary value. Banks don't typically store commodities in their reserves if they aren't money. Ever hear of a bank storing copper?
Gold stores value... as does copper and houses. Banks have all three.


Banks trade all sorts of commodities and governments stockpile all sorts of commodities.
Kill the ego, or it will kill the mission.
  • #14,519
  • Edited 6:30pm Dec 15, 2011 6:19pm | Edited 6:30pm
Quoting LasVahGoose
Yeah, keep laughing dumbshit.

$50 Dollar face value and it's legal tender.
.
http://www.goldamericaneagle.com/images/body-coins.png
Nothing like a bit of abuse.

At no place did I say that gold that had been minted was not legal tender. It is. As is also true of "paper" that has been minted.

Gold and paper that has NOT been minted are NOT legal tender.

It is not the fact that it is gold that makes it legal tender. It is the fact that it has been minted by the government that makes it legal tender.
Kill the ego, or it will kill the mission.
  • #14,520
  • Dec 15, 2011 6:24pm Dec 15, 2011 6:24pm
Quoting LasVahGoose
US dollar bills are made from cotton not paper. So write it on your t-shirt.
Uh... to be technically correct, cotton can in fact be made into paper.

http://en.wikipedia.org/wiki/Cotton_paper

So what you should have said is:

US dollar bills are made from PAPER made from cotton, not PAPER made of lumber and chemicals. It is unlikely that they would accept your IOU because the lumber content was too high.
Kill the ego, or it will kill the mission.
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