59 replies to this topic

[Smithy]

dharma, could you elaborate on what you mean by 'cash disappear'?

[dharma]

dharma, could you elaborate on what you mean by 'cash disappear'?

larry summers, some months back outlined several points
1 was negative interest rates-
my take is try retiring on negative rates
2 he said govt should do away w/cash. it should all be electronic
in this way govt will know every dollar spent and can be taxed

in the 4 phase model phase one is building a base which is what we are doing confidence is still a long ways away.
sentiment
The HGNSI rose 6.7 points yesterday to -23.3%
MarketVane’s Bullish Consensus rose a point to 43% today
and the DSI rose 4 points to 17%. these #are near the extremes.
the 10th/11th is my turn.
the gold jewellery biz in india has been demolished, just look @the charts of the larger manufacturers
now w/food stuffs hitting the skids will farmers be next? better hope not, w/o farmers there wont be much food @any price.
draghi moved rates to negative yesterday.
dharma

[dharma]

this is an interesting perspective, or @least i found it interesting
http://www.goldmoney...?gmrefcode=gata

dharma

[senorBS]

this is an interesting perspective, or @least i found it interesting
http://www.goldmoney...?gmrefcode=gata

dharma

I fond it very interesting and especially this part:



The signs are as clear as daylight. With a financial system that has the structural stability of a house of cards and the prospect of eventual bankruptcy from welfare commitments, trade with the US and EU is not the future priority for China and Russia. And without the west's Keynesian and monetary baggage to carry, they have retained in large measure an understanding of the importance of gold as sound money.

This is why so much of the world's gold has ended up in Asia, including the Middle East. Gold is destined to be an integral part of Asia's financial system, leaving the west short and out in the cold. And we know from the tonnage flowing to Asia that much of this gold has come from western central bank vaults.

It amounts to an Asian gold strategy that excludes the west, and by supressing the gold price through sales and leasing of monetary gold western central banks have unwittingly enabled China's carefully thought-out plans. How and when will western central banks break the news to us all, that the bulk of the gold reserves entrusted to them are now in Asian hands, and they have been secretly complicit since the 1970s in setting up a whole continent with what probably amounts to the largest wealth transfer in history.

[dharma]

this is an interesting perspective, or @least i found it interesting
http://www.goldmoney...?gmrefcode=gata

dharma

I fond it very interesting and especially this part:



The signs are as clear as daylight. With a financial system that has the structural stability of a house of cards and the prospect of eventual bankruptcy from welfare commitments, trade with the US and EU is not the future priority for China and Russia. And without the west's Keynesian and monetary baggage to carry, they have retained in large measure an understanding of the importance of gold as sound money.

This is why so much of the world's gold has ended up in Asia, including the Middle East. Gold is destined to be an integral part of Asia's financial system, leaving the west short and out in the cold. And we know from the tonnage flowing to Asia that much of this gold has come from western central bank vaults.

It amounts to an Asian gold strategy that excludes the west, and by supressing the gold price through sales and leasing of monetary gold western central banks have unwittingly enabled China's carefully thought-out plans. How and when will western central banks break the news to us all, that the bulk of the gold reserves entrusted to them are now in Asian hands, and they have been secretly complicit since the 1970s in setting up a whole continent with what probably amounts to the largest wealth transfer in history.

yes, exacly, this is why i posted this article.its a sad but true reality. then you have the brics forming a strong economic contingent. along w/ the rest of asia. years and years ago, it was the silk trade. when marco polo went to the east. we are coming full circle. there are a few who have studied economic history. we may have another low or not, its accumulation time. trying to pin point the bottom , lord knows how many times i tried to catch 5of 5 on the downside and it didnt come. sentiment is lopsided and the market sectors are oversold and diverging. @ the 08 lows. i was scared did some strategic buying in size and it has made a huge difference. out of that hole while everyone was looking to the 400s there were enormous profits to be had
dharma
maybe aW as opposed to a V

Edited by dharma, 07 June 2014 - 02:13 PM.

[dougie]

not unwittingly imo this is manchurian candidate esque

[dharma]

crude oil could have finished the e wave of a triangle pattern and we are about to begin an impulse up. fridays cot, is the kind of situation that the bulls want to see. large specs dramatically increasing their shorts as the commercials ease out of their shorts. the backdrop gets more bullish. doesnt mean to my mind that dipping to 1k or below is out of the question. but, i deal w/present circumstances and here and now w/sentiment running lopsidedly bearish , the cot looking more conducive to a rally, chart pattern looking favorable, and oscillators oversold and diverging this says to me we are there or mighty close to there. dharma

[dharma]

the fact of the matter is negative interest rates are an admission by the eu that the economy is weak very weak. so what banks will do is rather than get a negative return on their money, they will park it w/other cb's which offer a higher rate of return. this will further exacerbate the eu slide. it will not be long for money to find its way into miners and commodities in general. dharma

[senorBS]

the fact of the matter is negative interest rates are an admission by the eu that the economy is weak very weak. so what banks will do is rather than get a negative return on their money, they will park it w/other cb's which offer a higher rate of return. this will further exacerbate the eu slide. it will not be long for money to find its way into miners and commodities in general.
dharma

DSI sentiment showing no one embracing this rally at all, Friday's single day DSI bullish reading at 19% in both gold and silver, and both 10-day MA's are at a very, very low 15% area

BSing away

Senor

Edited by senorBS, 09 June 2014 - 11:44 AM.

[dharma]

@the december lows there seemed to capitulation . i think over this 3 yr bear , lots of folks threw in the white towel the sector to my eyes looks good and poised for an upside move. the oscillators are in position for a rally. as is the sentiment figures, now a rally has to occur or it will just be another fake. it is very much the weak seasonal time of year. . demand will not oick up for diwali until sometime in late july/august. which begins the start of the strong season indians buy gold in dollars, the rupee is not an international currency. oil could be breaking out of its triangle dharma