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  • #815,101
  • Jul 13, 2013 7:23am Jul 13, 2013 7:23am
Quoting attila
{quote} All these gold bugs miss the biggest problem with staying on the gold standard.. If everybody is on it, then a let's say interest rate increase in Cyprus will affect the interest rates in the United States.. Maybe the U.S. didn't need that at the time Cyprus went about it.. Pretty much like we would all be on yuro... That worked great.. Anyway...

Staying on the gold standard, would have prevented, TARP, QE ( infinity and beyond) and the never ending budget deficits, 14 trillion in debt and growing. I could go on and on. Gold bugs see something most don't, a leash on government spending.


Well short dollar when the time comes....
  • #815,102
  • Jul 13, 2013 7:29am Jul 13, 2013 7:29am
Quoting rfurtado
{quote} Staying on the gold standard, would have prevented, TARP, QE ( infinity and beyond) and the never ending budget deficits, 14 trillion in debt and growing. I could go on and on. Gold bugs see something most don't, a leash on government spending. Well short dollar when the time comes....

yes, when a 1200 sqf home was the the middle upper class.
those who can, do. those who cant, talk about those who can
  • #815,103
  • Edited 8:30am Jul 13, 2013 7:48am | Edited 8:30am
Quoting rfurtado
According to the article the US dollar is already worthless. It has been worthless since tricky dick( Nixon) got the dollar off the Gold standard in 1971. The only reason people still believe it has value, is the current dependence of oil contracts have to be executed in US dollars. Not for long, and the US still has the largest GDP in the world. Which are the only things keeping it afloat. Since currencies were created they were backed on the value of silver and gold holdings. Its alot easier to carry paper, in the case of the USD, its actually...

commerce 101
find a product. (insert product here)
make people think they need it.
separate them from their labor (money)
now they work for" you."
"you" has many meanings, including goverment or a religion.
repeat above many times, "you" is rich
mass media provides fresh meat.

the rich find the product, the poor buy the product.

Inserted Video
those who can, do. those who cant, talk about those who can
  • #815,104
  • Edited 8:35am Jul 13, 2013 8:10am | Edited 8:35am
Quoting rfurtado
{quote} Staying on the gold standard, would have prevented, TARP, QE ( infinity and beyond) and the never ending budget deficits, 14 trillion in debt and growing. I could go on and on. Gold bugs see something most don't, a leash on government spending. Well short dollar when the time comes....
I never claimed I know what the alternative was, but for the reasons I stated the gold standard can not work in the world we live in. If you can give me an alternative to the interest rate example I gave you, then you're right.

I think you are replacing one problem with another.
  • #815,105
  • Jul 13, 2013 8:39am Jul 13, 2013 8:39am
Quoting rfurtado
The only reason people still believe it has value
You answered your own question.
  • #815,106
  • Jul 13, 2013 8:58am Jul 13, 2013 8:58am
Quoting shaan295
Only My View , What Is Your View Guys ? {image}
the aud is nearly untradable atm, without a pullback.
  • #815,107
  • Jul 13, 2013 9:03am Jul 13, 2013 9:03am
question is it bullish or bearish considering location

Quoting shaan295
Only My View , What Is Your View Guys ? {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #815,108
  • Jul 13, 2013 9:10am Jul 13, 2013 9:10am
Only My View , What You Gonna Say Guys ?
Attached Image (click to enlarge)
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  • #815,109
  • Jul 13, 2013 9:22am Jul 13, 2013 9:22am
Investor (A) keeps his money in the bank earning a measly 0.25 percent interest while his central bank prints money with wild abandon.
Hyperinflation kicks in because history clearly shows that's what happens when countries trash their own currency.
Meanwhile, Investor (A) has now retired and is now clearly fucked.

Investor (B) puts a decent affordable portion of his monthly paycheck towards Gold, puts the rest in the bank and withdraws it as needed. His central bank prints money with wild abandon.
Hyperinflation kicks in because history clearly shows that's what happens when countries trash their own currency.
Meanwhile, Investor (B) cashes in his gold which has now skyrocketted in value because history shows thats what happens when countries convert their currency to toilet paper. (AKA-Gold price post 1971 gold standard exit and inflation spike).
Investor (B) now has 5-10 times his money, and can afford to maintain a decent living standard.
Thats the way I see this shit anyway.
Come with me if you want to live....
  • #815,110
  • Jul 13, 2013 9:32am Jul 13, 2013 9:32am
Quoting tomspin
Just a quick update on COT In my view this report cannot be seen as bullish, for me it is more like sell any rallies, as you can see we have almost 2:1 ratio between sellers and buyers so Ben's words were clearly faded. The major turnaround in sentiment would be triggered by clear statement on further extension in programs which is broadly expected by Fed bears, I would look at the next Q to year end. GL next week {image}
the COT report is for results up to 7/9/2013, tuesday. FOMC and BB speak were on 7/10, wednesday. we have to wait to see next cot report.
sure the big boys can fade it, but 2740/50 is a solid fence there.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #815,111
  • Jul 13, 2013 9:33am Jul 13, 2013 9:33am
down

Quoting shaan295
Only My View , What You Gonna Say Guys ? {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #815,112
  • Jul 13, 2013 9:36am Jul 13, 2013 9:36am
Quoting rfurtado
When it happens, short the USDX, buy gold , buy silver
buy grains and stock them in your basement.
i do not think a market crash will happen like it did in 2008/2009. a market correction will happen, but it will not be a crash.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #815,113
  • Jul 13, 2013 9:41am Jul 13, 2013 9:41am
Quoting Ill-b-back
Investor (A) keeps his money in the bank earning a measly 0.25 percent interest while his central bank prints money with wild abandon. Hyperinflation kicks in because history clearly shows that's what happens when countries trash their own currency. Meanwhile, Investor (A) has now retired and is now clearly fucked. Investor (B) puts a decent affordable portion of his monthly paycheck towards Gold, puts the rest in the bank and withdraws it as needed. His central bank prints money with wild abandon. Hyperinflation kicks in because history clearly...



Once upon a time there was a time when uncle Sam declared the possession of Gold illegal and confiscated it.......


History will repeat.......
  • #815,114
  • Jul 13, 2013 9:44am Jul 13, 2013 9:44am
Quoting tomspin
Just a quick update on COT In my view this report cannot be seen as bullish, for me it is more like sell any rallies, as you can see we have almost 2:1 ratio between sellers and buyers so Ben's words were clearly faded. The major turnaround in sentiment would be triggered by clear statement on further extension in programs which is broadly expected by Fed bears, I would look at the next Q to year end. GL next week {image}
the cot result was exactly for the week before FOMC and BB speak. do not know how many of the shorts were burnt on that huge spike on wednesday, the day after the cot report.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #815,115
  • Jul 13, 2013 10:44am Jul 13, 2013 10:44am
Quoting infinitus
{quote} Once upon a time there was a time when uncle Sam declared the possession of Gold illegal and confiscated it....... History will repeat.......
Once upon a time uncle sam illegally imprisoned the Japanese too. He also declared alcohol illegal. Uncle Sam is a dick head.
  • #815,116
  • Jul 13, 2013 11:03am Jul 13, 2013 11:03am
Quoting infinitus
{quote} Once upon a time there was a time when uncle Sam declared the possession of Gold illegal and confiscated it....... History will repeat.......
When History repeats, turn over your Gold to uncle Sam in return for toilet paper and invest it in residential housing and survive collecting rent...
  • #815,117
  • Jul 13, 2013 11:16am Jul 13, 2013 11:16am
Quoting ffleo
{quote} the cot result was exactly for the week before FOMC and BB speak. do not know how many of the shorts were burnt on that huge spike on wednesday, the day after the cot report.
Those who were burned are retail traders with too much leverage,you know the one that sell support.
I am bearish untill there is a balanced cot, and comms become buyers and non comms become sellers and this market equalibrium continues.
Some people are still bullish but since february all I can see is retracements here and there.
Nothing has changed in fed policy and nothing has changed in europe so grinding lower in a ranging way is on the table.
swing it!
  • #815,118
  • Jul 13, 2013 11:18am Jul 13, 2013 11:18am
Quoting attila
{quote} There is only one question occupying my mind: How will I profit from all these?
Thatīs the best and only question that matters for us. You can do it easy (short SP) and gain some easy money or elaborate and gain shitload of money...

I elaborate.

And itīs not about entirely about trading, make sure your broker is in Switzerland, your account lead in a safe haven currency etc.

Do your homework and end up rich. The time is coming, I am giving it months. The last knee jerk really to new highs based on the Benīs fart into thin air is a hot air baloon - and the arrow is already in flight.
Quant Hedge Fund CEO
  • #815,119
  • Jul 13, 2013 11:19am Jul 13, 2013 11:19am
Quoting FXMastermind
{quote} Thatīs the best and only question that matters for us. You can do it easy (short SP) and gain some easy money or elaborate and gain shitload of money... I elaborate. And itīs not about entirely about trading, make sure your broker is in Switzerland, your account lead in a safe haven currency etc. Do your homework and end up rich. The time is coming, I am giving it months. The last knee jerk really to new highs based on the Benīs fart into thin air is a hot air baloon - and the arrow is already in flight.
But you are a US citizen, hm? So Switzerland is not so safe anymore. There are other options, will post them via PM if interested.
Quant Hedge Fund CEO
  • #815,120
  • Jul 13, 2013 11:24am Jul 13, 2013 11:24am
Quoting shaan295
Only My View , What Is Your View Guys ? {image}
That this view of yours is completely worthless. Those candles were formed during heavily manipulated market and you canīt expect them to give you any relevant information, especially stand-alone as they are.

And especially in this pair, which massively driven by fundamentals.

= doesnīt matter what candles you got there. What does matter is critical results from China on Monday morning. Number will be obviously cooked (we are talking China), but they will move markets.
Quant Hedge Fund CEO
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