tag:blogger.com,1999:blog-7982981413278241287.post8444365262938622751..comments2023-10-28T17:54:39.467-06:00Comments on The Golden Truth: Eyes Wide Open: How Significant Is The Potential Dubai Default?Dave in Denverhttp://www.blogger.com/profile/03016238915167131989noreply@blogger.comBlogger12125tag:blogger.com,1999:blog-7982981413278241287.post-67616183755132185482009-11-29T09:45:47.335-07:002009-11-29T09:45:47.335-07:00Kitco's signature product that they sell is es...Kitco's signature product that they sell is essentially a paper product that offer as if it's an investment in real physical gold. But there have been several people who have raised issue with the validity of Kitco's product - quesitons which Kitco fails to answer. In other words, Kitco, like GLD, sells a product that it represents to be backed by gold, dollar for dollar. But it won't prove it for all to see. In all probability, it is a fraud.<br /><br />My best guess is that Nadler is supposed to represent Kitco's editorial view that the price of gold is unjustifiably high. <br /><br />Nadler is a fraud and Kitco is ultimately a fraud. <br /><br />Nadler has relentlessly and arrogantly embarrassed himself for several years now. Recently he has pulled out of two precious metals conferences in which he was scheduled to debate the various issues surrounding the gold market. He is a spineless coward hiding behind false arrogance and lies.<br /><br />He's the kind of guy that, when the day oomes that gold pulls back from $5000 to $4000, will say "see, I told you so" LOLDave in Denverhttps://www.blogger.com/profile/03016238915167131989noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-23383827577920180462009-11-28T06:40:30.491-07:002009-11-28T06:40:30.491-07:00Thank you, Dave.
"Jon Nadler is basically f...Thank you, Dave. <br /><br />"Jon Nadler is basically full of shit"<br />I wonder why they keep him on the front page. He's wrong on a consistent basis, yet he is still allowed to publish articles. He's like a politician..Kristjanhttp://www.kristjanvelbri.comnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-29216523495108689992009-11-27T20:30:37.478-07:002009-11-27T20:30:37.478-07:00Kristjan: well, my realtime futures charts show t...Kristjan: well, my realtime futures charts show the gold plunge occurring around 1:30 a.m. Denver time, maybe starting down a little after 1 a.m. time my time. The LSE begins trading activity around 12:50 a.m. my time. NY Globex hours is pretty much around the clock, with a 1 hour "dark period" in the afternoon (3p.m. my time/5 p.m. NY time).<br /><br />So technically Kitco is right, the sell off did occur during NY Globex hours. But it happened to coincide with the opening of the LSE. In fact, there is a high correlation between gold selling off and the opening of the LSE. That occurrence happened every day this week. <br /><br />Kitco/Jon Nadler is basically full of shit.Dave in Denverhttps://www.blogger.com/profile/03016238915167131989noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-86568023242675970402009-11-27T15:47:32.125-07:002009-11-27T15:47:32.125-07:00Kitco says the plunge was during New York Globex h...Kitco says the plunge was during New York Globex hours, a few hours before London open. I am confused. Any help, Dave?Kristjanhttp://www.kristjanvelbri.comnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-16248765551506298532009-11-27T14:56:02.770-07:002009-11-27T14:56:02.770-07:00Back at ya on WSB, JJ. See my post above alsoBack at ya on WSB, JJ. See my post above alsoDave in Denverhttps://www.blogger.com/profile/03016238915167131989noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-64041210995155217662009-11-27T14:35:14.261-07:002009-11-27T14:35:14.261-07:00Dave,
Please see my reply at the WSB:
http://www...Dave,<br /><br />Please see my reply at the WSB:<br /><br />http://www.wallstreetbear.com/board/view.php?topic=63619&post=213262<br /><br />JJAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-54614272170929394022009-11-27T14:20:03.147-07:002009-11-27T14:20:03.147-07:00When push comes to shove, printing, printing, and ...When push comes to shove, printing, printing, and more printing, broadly defined, will ensue with each and every swoon in global financial markets. What we will increasingly have here in the U.S. is a Wile E. Coyote reality, where old Wile E. will seem to magically hover above the abyss even as the U.S. economy-if not the gobe's economy- inexorably collapses. <br /><br />The second there is even a hint that easy money and bailouts are off the table, we will see price cuts occur (in record time) in the major averages that will dwarf last year's worst carnage. And this prospect is why there will be no cessation of monetization. Gold in excess of 3k an ounce, or gold at 200 an ounce before Obama's first term is up are our choices.Edwardohttps://www.blogger.com/profile/03613197383283896190noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-10072845913915395992009-11-27T11:45:22.057-07:002009-11-27T11:45:22.057-07:00Kristjan. For sure there is going to be some liqu...Kristjan. For sure there is going to be some liquidation of December today. We'll know how much later this afternoon. <br /><br />HOWEVER, the big move down in gold occurred around the time London opened for trading early this morning. That would not be Comex liquidation-related. That would be related to panic selling in all sectors.<br /><br />Interestingly, gold on a percentage basis outperformed the SPX once U.S. stock trading opened.Dave in Denverhttps://www.blogger.com/profile/03016238915167131989noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-63206828013527730282009-11-27T11:13:09.382-07:002009-11-27T11:13:09.382-07:00Dave, I think you are forgetting something. Yester...Dave, I think you are forgetting something. Yesterday (or was it the day before) you wrote about the gold futures and that market participants would have to sell their contracts on Friday if the didn't want to get the real stuff delivered to their door. Couldn't that have puhsed the price down so violently?Kristjanhttp://www.kristjanvelbri.comnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-27110967370426034362009-11-27T10:43:17.064-07:002009-11-27T10:43:17.064-07:00Dave,
after a late night of thanksgiving revelry I...Dave,<br />after a late night of thanksgiving revelry I awoke expecting to see market fireworks, but of course the markets are giving the Dubai issue a big yawn. Carry on as usual.<br /><br />Huge win for the Broncos last night! They really put things back together and embarassed the G-men at homeEconomicDisconnecthttps://www.blogger.com/profile/02802078645713106743noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-61025216301826792912009-11-27T10:41:53.540-07:002009-11-27T10:41:53.540-07:00Correct. That's why I referenced the fact that...Correct. That's why I referenced the fact that problems related to this could surface in U.S. funds. <br /><br />The other issue is whether or not UAE will smooth over this problem.Dave in Denverhttps://www.blogger.com/profile/03016238915167131989noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-42901499393607322322009-11-27T10:27:57.915-07:002009-11-27T10:27:57.915-07:00Its not so much who holds the debt.
The big quest...Its not so much who holds the debt.<br /><br />The big question is who are the parties to the CDS.Jessehttps://www.blogger.com/profile/10098169118867085623noreply@blogger.com