silver in backwardation= tight supply. this will lead to higher prices
miners lagging. i give bulls lots of room. all gets sorted out
w/a couple of closes over 1375, the market is tipping its hand for higher prices.
dharma
after 30 years of bull market, the bonds continue a topping process.
above 1358 indicates...............
Started by
dharma
, Feb 08 2011 11:48 AM
177 replies to this topic
#52
johngeorge
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Posted 19 February 2011 - 04:07 PM
I found this of interest:
World Bank's Zoellick Calls For Overhaul Of Monetary System, Says Yuan Should Get Prominent Role
http://www.zerohedge...-prominent-role
"World Bank's Robert Zoellick, who has recently been on a truth-telling roll, suggesting a return to the gold standard, and also highlighting that surging food prices have suddenly pushed 44 million to extreme hunger around the world raising the likelihood for many more revolutions, penned an oped in yesterday's FT, sharing his vision for a "monetary regime for a multipolar world" in which, not surprisingly he warned that the current monetary system is perilous, and that China's Yuan should be added to the SDR, as well as other currencies "over time." This is yet another dig at the dollar's status as a reserve currency, yet without China taking proactive steps to indicate its interest at becoming the new de facto world currency, the status quo may be stuck with the greenback. Essentially, China is waiting until the right moment emerges, a time when it has stockpiled enough resources, when it can, unilaterally, or in collaboration with Russia and potentially a post-EUR Europe, make an announcement that the Yuan is the new reserve currency, backed by a basket of commodities. This is precisely the step-change that Zoellick is trying to avoid: "A framework to manage a monetary system in transition may be less headline-grabbing than sudden regime change, but it is a lot more realistic. Modernising the management of international monetary affairs could prove an important contribution to future growth. The time of powerful kings is long gone. But today’s leaders still have the chance to stamp their mark on the monetary framework of tomorrow." Unfortunately, the possibility of a gradual transition in which the US willingly cedes ever increasingly more of its reserve status is unthinkable: after all the bulk of the Fed's disastrous policy is dictated that no matter what the Chair does, the world has no choice but to continue using dollars. Which will work until it doesn't (and with total US debt at almost 100% of GDP, the "doesn't" part is approaching.
Some more thoughts from Reuters on Zoellick's op-ed:
Zoellick said countries participating in the SDR should review monetary and currency issues in an SDR forum.
"This group should offer China the incentive to join the forum and eventually the SDR after it takes steps to internationalise the renminbi and moves towards an open capital account."
Zoellick said over time other major internationalised currencies could be added to the SDR basket.
"Leading powers are not going to accept the SDR as a new global reserve currency, nor the IMF as a global central bank," Zoellick said.
He added, however, that the IMF would act as a referee, "able to blow the whistle on the appropriateness of external policies but not to impose penalties" in order to support a healthy global economy.
And naturally Zoellick once again invokes the status of gold as the ultimate monetary arbiter:
Within this new framework, the IMF should be a referee, able to blow the whistle on the appropriateness of external policies but not to impose penalties. The IMF should be directed to sharpen the multilateral review of “capital account” policies, as part of the G20’s new mutual assessment process (MAP). This review should compare national policies with international information indicators, including commodity prices such as gold. The IMF’s involvement, with its 187 shareholders, offers the G20 the incentive of greater legitimacy and the support of an institution with financial resources.
All these suggestions are great. Too bad that just like with the SEC's trivial inversion of cause and effect in the flash crash and its precipitating factor, High Frequency Trading (circuit breakers do nothing to handle the reasons for a market crash: they merely moderate the symptoms), so all of Zoellick and Strauss-Khan's warnings that it is time to move to an SDR regime will not be heeded until it is too late. "
World Bank's Zoellick Calls For Overhaul Of Monetary System, Says Yuan Should Get Prominent Role
http://www.zerohedge...-prominent-role
"World Bank's Robert Zoellick, who has recently been on a truth-telling roll, suggesting a return to the gold standard, and also highlighting that surging food prices have suddenly pushed 44 million to extreme hunger around the world raising the likelihood for many more revolutions, penned an oped in yesterday's FT, sharing his vision for a "monetary regime for a multipolar world" in which, not surprisingly he warned that the current monetary system is perilous, and that China's Yuan should be added to the SDR, as well as other currencies "over time." This is yet another dig at the dollar's status as a reserve currency, yet without China taking proactive steps to indicate its interest at becoming the new de facto world currency, the status quo may be stuck with the greenback. Essentially, China is waiting until the right moment emerges, a time when it has stockpiled enough resources, when it can, unilaterally, or in collaboration with Russia and potentially a post-EUR Europe, make an announcement that the Yuan is the new reserve currency, backed by a basket of commodities. This is precisely the step-change that Zoellick is trying to avoid: "A framework to manage a monetary system in transition may be less headline-grabbing than sudden regime change, but it is a lot more realistic. Modernising the management of international monetary affairs could prove an important contribution to future growth. The time of powerful kings is long gone. But today’s leaders still have the chance to stamp their mark on the monetary framework of tomorrow." Unfortunately, the possibility of a gradual transition in which the US willingly cedes ever increasingly more of its reserve status is unthinkable: after all the bulk of the Fed's disastrous policy is dictated that no matter what the Chair does, the world has no choice but to continue using dollars. Which will work until it doesn't (and with total US debt at almost 100% of GDP, the "doesn't" part is approaching.
Some more thoughts from Reuters on Zoellick's op-ed:
Zoellick said countries participating in the SDR should review monetary and currency issues in an SDR forum.
"This group should offer China the incentive to join the forum and eventually the SDR after it takes steps to internationalise the renminbi and moves towards an open capital account."
Zoellick said over time other major internationalised currencies could be added to the SDR basket.
"Leading powers are not going to accept the SDR as a new global reserve currency, nor the IMF as a global central bank," Zoellick said.
He added, however, that the IMF would act as a referee, "able to blow the whistle on the appropriateness of external policies but not to impose penalties" in order to support a healthy global economy.
And naturally Zoellick once again invokes the status of gold as the ultimate monetary arbiter:
Within this new framework, the IMF should be a referee, able to blow the whistle on the appropriateness of external policies but not to impose penalties. The IMF should be directed to sharpen the multilateral review of “capital account” policies, as part of the G20’s new mutual assessment process (MAP). This review should compare national policies with international information indicators, including commodity prices such as gold. The IMF’s involvement, with its 187 shareholders, offers the G20 the incentive of greater legitimacy and the support of an institution with financial resources.
All these suggestions are great. Too bad that just like with the SEC's trivial inversion of cause and effect in the flash crash and its precipitating factor, High Frequency Trading (circuit breakers do nothing to handle the reasons for a market crash: they merely moderate the symptoms), so all of Zoellick and Strauss-Khan's warnings that it is time to move to an SDR regime will not be heeded until it is too late. "
Peace
johngeorge
johngeorge
#53
dharma
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Posted 20 February 2011 - 01:44 AM
remember that when the dollar became the reserve currency, it was fully backed by gold
imho giving that status to another country is asking for the same medicine down the road
their banksters will do the same thing as the usa banksters did.
do i have a better idea. i dont know if i do
but, i know leaving a currency in the hands of banksters or gmen will eventually lead to
fiat.
from where i sit neither the gmen or the banksters can be trusted
dharma
#54
inamosa
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Patterns-based Trader and Investor in ETFs and Futures
Posted 20 February 2011 - 12:47 PM
I'm keeping with what I posted last week (or was it the week before that? I think the latter): it's risky to sell any of your positions.
Any new low in gold would be marginally lower (at best) than the recent low at ~$1309, IMHO. And, I wouldn't be surprised if gold just shoots higher here without making a "double bottom" of sorts.
Surprises come on the upside in secular bull markets. You should only sell if you're quite confident you can get back in at a lower price. Many of those who do sell end up getting back in at higher prices...
Gee, another upside surprise...
It shouldn't be a surprise at this point, folks. This is what secular bulls are all about. Don't try and get too fancy about it and mistake genius for a secular bull market.
And people wonder why gold is going up: http://www.businessi...--2011-2?slop=1
Dollar devaluation is the only way out...
Edited by alysomji, 20 February 2011 - 12:54 PM.
"Our job is not to predict where the market will go, but to interpret daily price and volume action to ascertain the facts of the current environment and make decisions based on that interpretation."
-Scott O'Neil (son of William O'Neil), Portfolio Manager at O’Neil Data Systems, when asked where the Dow would go in the coming months
-Scott O'Neil (son of William O'Neil), Portfolio Manager at O’Neil Data Systems, when asked where the Dow would go in the coming months
#55
dougie
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Posted 20 February 2011 - 08:03 PM
SILVER: HOUSTON, WE HAVE LIFT OFF
However silver equities in my port have been negatively diverging?
#56
stubaby
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Posted 20 February 2011 - 08:22 PM
SILVER: HOUSTON, WE HAVE LIFT OFF
However silver equities in my port have been negatively diverging?
dougie:
patience! I think you could be very satisified by the end of this week!
stubaby
#57
johngeorge
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Posted 20 February 2011 - 08:40 PM
SILVER: HOUSTON, WE HAVE LIFT OFF
Gold busting a move now as well.
However silver equities in my port have been negatively diverging?
Me too.....,but, I agree along with stubaby, dharma, alysomji, etc., that it won't be long until they take off. Meanwhile I have been playing SLW. Probably should just have bought and held. However, it puts some quick cash in my account to buy some more juniors.
Peace
johngeorge
johngeorge
#58
dharma
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Posted 20 February 2011 - 09:02 PM
i feel like a party pooper
i have monday 21st as an astro date - either a short term top or acceleration. place your bets!
find a seat , comfortable or not and ride the bull.
the end of march should be problematic
dougie- if you did your homework, then the silver stocks should put a smile on your face.
there are a limited # of analysts in this space, if ones stocks have a following , they should do well
looks like some stocks are about to go vertical
dharma
#59
johngeorge
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Posted 21 February 2011 - 10:10 AM
i feel like a party pooper
i have monday 21st as an astro date - either a short term top or acceleration. place your bets!
find a seat , comfortable or not and ride the bull.
the end of march should be problematic
dougie- if you did your homework, then the silver stocks should put a smile on your face.
there are a limited # of analysts in this space, if ones stocks have a following , they should do well
looks like some stocks are about to go vertical
dharma
Gold spot @ $1403 and silver spot @ $33.71as I type. Seems you may not be a party pooper after all.
Peace
johngeorge
johngeorge
#60
dharma
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Posted 21 February 2011 - 11:36 AM
rising oil prices will only exacerbate the situation world wide. printing fiat in the western world and social unrest in the oil rich middle east will cause starvation in much of the world. what jim rogers has been talking about is coming to pass.
remember in the depression silver traded @.28 . no cb , to my knowledge, holds silver. when these things put in their final top(years away). silver will go locked limit down for days on end. gold is a different story. enjoy silvers ride. it is the more speculative of the 2. if you havent started storing food, wake up. there are going to be shortages in the west. it is not just a mid eastern phenomenon
libya brings the game to a whole new level. the usa needs to be less dependent on oil. of course govt will respond only to need. no farsighted politicians
where is andrew jackson when you need him. http://www.rollingst...ail-20110216.of course rolling stone has 6 readers.
when times get tough, the tough respond. my motto in this bull is "dont mistake genius for a bull market" its not intestinal fortitude, its experience. @some point technical analysis will have to yield to feel. take a look at the nasdaq in 99-00. there were many times the oscillators diverged only to see the market move higher. in bull markets oscillators tend to get you out way to early. and dont get too greedy, or you will be riding down the elevator shaft w/your boat full , taking on lots of water.
in 2011 alot of situations are going to come home. its not going to be pretty. we have a scientist in charge of the fed. letting the inflation genie out of the bottle, is going to cause problems. lots of problems. and he says , not to worry we can get mr. genie back in his bottle. paul volker was rare, hated in his time. today, there are few statesman, lots of politicians.
just rambling before the sun rise
dharma
remember in the depression silver traded @.28 . no cb , to my knowledge, holds silver. when these things put in their final top(years away). silver will go locked limit down for days on end. gold is a different story. enjoy silvers ride. it is the more speculative of the 2. if you havent started storing food, wake up. there are going to be shortages in the west. it is not just a mid eastern phenomenon
libya brings the game to a whole new level. the usa needs to be less dependent on oil. of course govt will respond only to need. no farsighted politicians
where is andrew jackson when you need him. http://www.rollingst...ail-20110216.of course rolling stone has 6 readers.
when times get tough, the tough respond. my motto in this bull is "dont mistake genius for a bull market" its not intestinal fortitude, its experience. @some point technical analysis will have to yield to feel. take a look at the nasdaq in 99-00. there were many times the oscillators diverged only to see the market move higher. in bull markets oscillators tend to get you out way to early. and dont get too greedy, or you will be riding down the elevator shaft w/your boat full , taking on lots of water.
in 2011 alot of situations are going to come home. its not going to be pretty. we have a scientist in charge of the fed. letting the inflation genie out of the bottle, is going to cause problems. lots of problems. and he says , not to worry we can get mr. genie back in his bottle. paul volker was rare, hated in his time. today, there are few statesman, lots of politicians.
just rambling before the sun rise
dharma
