The Golden Truth: Are Gold/Silver Getting Ready to Rock n Roll?

Monday, March 1, 2010

Are Gold/Silver Getting Ready to Rock n Roll?

Let me preface this with the fact that every time I get "in my bones bullish," the cartel manages to pull out a big surprise attack on the metals - so maybe this is a good contrarian indicator. Having said that:

I think we're on the cusp of a big move up in the metals here - I can feel it in my bones. Gold has tested the inverse HnS breakout area (1030 area - not exactly but it did hit a 1044 intra-day low which is close enough for Government work and IED bombs), it weathered the Fed/IMF smash attack and it is really weathering the euro/pound cliff-dive well. When Greece is resolved, it will create an explosion higher in the euro and gold will do a moonshot. I think this is partially why we're seeing the commercial long side grow. Gold could well be on its way to hitting its technical objective from breaking the inverse HnS of $1350 area. From there, who knows...we're also going into what is a stronger seasonal period.

2 comments:

AnonymousMonday, 01 March, 2010
Dave how do I check my gold coins and some gold bars that I have??!!!

http://www.zerohedge.com/article/german-prosieben-tv-channel-finds-500-gram-tungsten-bar-wcheraeus-gold-foundary-bank-origin
ReplyDelete
Replies
Dave in DenverMonday, 01 March, 2010
Wow. Thanks for posting that one. I missed it.

If you have sovereign-minted bullion coins like maple leafs, eagles, philharmonics, etc, or bona fide nuimismatic gold coins, then you are probably fine with your coins. Take 'em in to a local coin dealer if you are uncertain.

As for the bars, if they were small they probably came in mint packaging and with certificates. If they are 100 oz. Comex-eligible bars, then they should have serial numbers and authentication paperwork. If none of the above applies, check with a local coin dealer.

I would bet that you are fine. But you might want to swap out your bars, if you can locally, for bars that have paperwork with them if you the ones you have do not.
ReplyDelete
Replies

Add comment

Why Gold?

Gold is the world's oldest currency. You exchange your fiat currency (dollars, euros, yen, yuan) into gold as an insurance policy against catastrophic Central Bank and Government policies which serve to destroy the value of fiat currencies and destroy democracy.

Gold can ONLY be considered an investment to the extent that it remains significantly and historically undervalued in relation to the fiat currencies against which its value is measured. Otherwise it remains the world's oldest currency and is completely free from the counterparty risk associated with currency by Government fiat (i.e. fiat currencies rely on a Government's "full faith and credit.")

Quote Of The Month Courtesy of "Jesse"

Unfortunately for Larry Summers, Ben Bernanke, and their friends at the BIS, they have not yet figured out how to print physical gold, silver, and other essential commodities, and the world is reaching the point where it might simply start ignoring the New York based markets with respect to essential commodities such as basic materials, oil, foodstuffs, and the like, as they become increasingly irrelevant, fraudulent, and Orwellian. And then where will the financial engineers be, except with no more excuses and no place to hide?

Here is the link to his entire commentary, well worth a read:

http://jessescrossroadscafe.blogspot.com/2010/07/gold-daily-chart-shock-and-awe-for.html

Great Quote From Jim Rogers On Govt CPI Reporting

JR: I mean, we have inflation now. If you go to the shop, whether it’s groceries, or education or insurance or health care, prices are going up for everything. The government lies about it in the US. Some countries lie, many countries don’t: Australia, China, India and Norway. Many countries don’t lie about it and acknowledge that we have inflation. Others lie about it, the UK and the US, but if you go shopping you know prices are up.

Q: Are you saying that the American Consumer Price Index (CPI) published by the US Bureau of Labor Statistics is a lie?

JR: In my opinion, yes, of course it is. Have you looked at it? They’ve changed their accounting several times in the past few decades. When housing was 20% to 25% of the CPI and housing was going up, they didn’t count it, saying rents weren’t going up, and then when home prices started going down, they counted it. It’s the same with many things. It’s staggering some of the tortuous reasoning that the BLS has used over the past 25 or 30 years. When the price of gasoline goes up, they say it’s not really going up because it’s better gasoline, better quality, therefore you’re getting more for your money. I mean, it’s endless, the stuff that they say and for some reason people sit there, although more and more people are catching on, and accept what the government says.

source: www.clusterstock.com

Quote of the Week

"The primary function of a Central Bank is to engage in the massive transfer of wealth from the middle class to the wealthy elite. The Federal Reserve was set up to do this with the blessing and support of Congress." - Dave in Denver

If you refuse to believe the above, please read "The Creature From Jekyll Island: A Second Look at the Federal Reserve" by G. Edward Griffin and then explain to me why the Senate voted down the Vitter Amendment and Congress refuses to pass a law requiring a full audit of the Fed, even though the Fed is using taxpayer-backed money to bailout Wall Street and Europe.