Who Believes in Gold at $285/oz and What will it be in Dec 2000?????greenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread
RJ has been saying that his clients want out. There have been several posters with the opposite opinion. How many of you really believe Gold will be significantly less than $250/oz next December? How many don't believe that the Oppenheimers, Rockefellers and Rothschilds haven't been silently sucking up all available bullion in the meantime.
Also, did you know that 40% of the BOE auctions were purchased by gold mines? This is bullish no matter how you read it.
-- William R. Sullivan (email@example.com), January 01, 2000
Please William, before I embarrass you. Now, you think your an insider. Gold will do what ever it likes and it doesn't ask you or me for help. Anything is possible. If it wants it could go to $100.00 oz. and it won't ask you for approval. And as far as the stock market goes, don't bet it won't go alot higher, because you ain't seen nothing yet. You are to overweighted in gold. Hedge and invest the rest in high growth. 5 years from now if you keep it up you will look even dumber than you do now. Yes, i have been there.
-- ERIC (firstname.lastname@example.org), January 01, 2000.
Two basic questions for you:
What do you believe the average current extraction cost, in US$, is for an ounce of gold?
Do you believe that the market, in aggregate, can actually and truly appreciate, in any permanent way, at a rate well-above the increase in aggregate production of the economy as a whole?
-- Nathan (email@example.com), January 01, 2000.
This is the latest from FOA at Usagold - these are my beliefs too.
Load up at these prices while you can. Bubble.com is reaching, may have reached, critical mass.
"All of Another's Thoughts and my comments are directed toward "physical gold owners and by extension "physical gold advocates". These people have read all of these ongoing posts (some have been involved privately long before the current "gold forums stage") and know the thinking is strategic as it applies to a moving, evolving political target! Each group of posts are but a snapshot in time as it applies to this changing chess game. Yet, the end results remains the same, the destruction of our present pricing system for gold, a huge increase in the dollar price of physical gold, the eventual use of gold a Euro reserve settlement currency along with the new free market that must evolve with it.
"Physical Gold Advocates", such as I (and readers) have brought gold from the high $360s into the low $280s because of this ongoing timeline of events. A timeline that is now quickly being depleted as the Euro builds it's position in the world. I submit, we are not hurting in any comparable way as our gold holdings are in a good large proportion to our total assets. And certainly our asset values have not been impacted as the gold derivatives players have (gold stocks included). When behind the stage power plays are in progress, the possible short term outcome is presented. Yet, it is presented with the knowledge that readers will think bullion, not derivatives. As such, if the chess game moves into another stage, no hard loses are taken by anyone.
ALL: The historical record of physical gold alone is enough to justify a real gold holding. I add that the record for mining shares and the other leveraged derivatives are lacking in their long term comparison. These items are as new and peculiar to the modern investment scene as is the current dollar "off the gold standard"! Players often tout these paper investments to be as good as gold, yet they are truly only as good as the dollar marketplace for gold! Still, I own some gold shares (gold), but only in a small proportion.
We conclude that the coming bull market in gold will be unlike anything before it. Today, the leverage is in physical gold, not paper gold. This latter day track record of derivatives, gold stock options, gold options, gold stocks, etc. all clearly demonstrate this changing function. The horrendous ongoing, long term loses, built up by these paper bull traders is evident. With each downturn, they search for greater and greater leverage, in a attempt to return to "even". All the while, the bullion buyer slowly amasses a large "highly leveraged" position, just by channelling his would be trading loses into paid up physical and rare gold coins.
One day, the dollar paper gold markets will be driven into "Force Majeure", during a transition from the current dollar reserve system. With each political announcement, the stress on the London market will grow. We know this position and understand it well. Yet, no one can guess when the last bullion delivery will spell the end for paper credibility. I only offer the month by month level of stress and how it may impact bullion. As for this Y2K item. I fully acknowledged it potential for impact on the dollar. Yet, in my posts, I offered my feelings that it would not be severe. Clearly, we have larger items to address that this.
More later. FOA"
-- Andy (2000EOD@prodigy.net), January 01, 2000.
Eric, I am DEFINITELY NOT AN INSIDER. I look at things from the outside to make my decisions. To do otherwise would mar my objectivity. Why do you think I didn't buy gold in '98 or early '99? I had a number and I have had it irrespective of leasing, etc. When that number was reached, I researched how I could own gold. I knew I didn't want anything less than the real thing i.e. gold in my hand. I found out that jewelry never really holds it's value because of mark-up. I found out that bullion isn't easy to obtain and that coins of collectible value have very large mark-ups. I ended up buying a reasonable amount of gold eagles. I still have plenty of cash and I also own 20% of a partnership that made 25% this year on it's stock market investments.
That same partnership makes money on timber and deer leases from the property that it also owns. The gold isn't a huge investment....just one that I will enlarge if the price continues to drop..but don't count on the drop for long if it happens.
-- William R. Sullivan (firstname.lastname@example.org), January 01, 2000.
FOA (01/01/00; 20:34:38MDT - Msg ID:22008) Comment mhchuck (12/31/99; 19:13:55MDT - Msg ID:21928) Just Another Squashed Bug.---------------- ----and---------- mhchuck (12/31/99; 19:22:25MDT - Msg ID:21931) Do We Have Free markets? Yuk, Yuk, what an industry, if the price of the item they are producing rises...they all go bankrupt. Please come and get me, I'm ready for the nuthouse.---------------------
Hello and welcome mhchuck,
Well, if you have come this far down the gold trail, we might as well finish the hike. The end of this is closer than many think. My dad always said don't worry about the big bully in town. There is always someone bigger and tougher than him wait for the chance to ????? The same is true in the money power game. I never said that the Euro was not going to be a tough "dude". He is and he will work the dollar over with the help of gold. We are only pointing out (to the average person) that the timeline of the dollar is ending and the transition will be sudden and harsh on dollar asset holders. Truly, gold will not be an "innocent" bystander in this fight. It's historic power to break empires will certainly come into full use. Again, bullion will be the survivor with the most leverage in this battle. Yes, the gold mines will still have valuable reserves and be in full operation as this all unfolds. It's only the equity holdings of these "businesses" (not all, just most of them) that will be ransacked as the gold marketplace is up-ended.
-- Andy (2000EOD@prodigy.net), January 01, 2000.
Why would any one want to sell their Gold now! I have been noticing that when oil futures have gone up so hasn't Gold The Saudis are smart enough to get paid in gold for oil not the FED'S Fiat currency. The Central Banks can't get their hands on enough physical gold to cover their short positions. Gold to the moon yee haah!!!
-- Otis (Otis@sprynet.com), January 01, 2000.