Just shot up again. Maybe more bad news is out.
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"Never underestimate the power of stupid people in large numbers!" - Homer J. Simpson...Originally posted by TimberWolf View PostComment
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Treasuries Price In QE3 as Barclays Says Traders Anticipate $500 Billion - BloombergOriginally posted by TimberWolf View Post
Only bad news if you have any money (paper money that is).Comment
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Originally posted by DimPrawn View PostFunny thing is I suspect the gold is long gone. Ask Gordon.
Is that why there has been such a sudden scramble tor Tripoli - for Libya has 144 tons of Oold- bit I bet its not to be found in Tripoli !!! Good luck boys !
As for Chavez - the UK and the US have to find the Gold - if they dont it will start a run on Gold as other countries would then demand their Gold back - they could of course try to invade - but that would also spark a Gold Crises too ..
Following a 6 month stalemate in which neither side had attained any advantage, it suddenly took just a few days for the Libyan rebel forces to steamroll unopposed into Tripoli.
While we are confident that the political aftermath of this outcome will be very much comparable to what is happening in Egypt right now, many wonder why it is that the Libyan situation has progressed with such speed.
Perhaps the answer can be found in the 143.8 tons of gold held by the Libyan Central Bank. Granted it is nowhere near close the 366 tons of gold that Venezuela supposedly has per the WGC, most of it likely held offshore and not being repatriated, the question of where the global gold cartel may find some of the much needed physical to satisfy Chavez' demands has been now answered. Of course we assume that said gold has not already departed Libya in direction Caracas over the past 6 months. Which, in retrospect, we probably should, as it would explain why gold is now at $1875 and rapidly rising.Last edited by AlfredJPruffock; 22 August 2011, 21:44.Comment
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Still climbing through the night. Those Yanks...Comment
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Quite a big fall today - from £37,300/kg to £35,600/kg. Over 4% down and back to last week's price. Some good news out?Comment
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Originally posted by AlfredJPruffock View Post
144 tons of gold would be worth around $7.2 bln (at $50k per KG).
Do you really think US govt would move a finger for such a pityful amount of money?
QE3 is estimated to be equivalent of 10,000 tons of gold, why bother with logistics trying to take 144 tons of heavy metal out of warzone?Comment
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Size of Gold 'Bubble' Now an 'Absurdity': Analyst
This guy needs to understand how 'bubbles' work - they are not meant to be anything other than absurd...“For those pundits that believe gold will keep rising to $2,500 an ounce, let's do some simple math: the current reservoir would be valued at $12 trillion and the next 20 years of production would produce gold worth $3.8 trillion, bringing the total value to $15.8 trillion” said Wadle.
“Even assuming earnings for the Dow stocks rise by only 2 percent (Japanese deflation scenario) over the next 20 years and the market only trades on a P/E of 10x an investor would still make 130 percent over this period,” he said.
To match this return gold would need to top $4,400 an ounce according to Wadle.
“This is absurd,” he said.
Friday will be a big day for all the markets when Bernanke deos or doesn't announce QE3Last edited by Jog On; 23 August 2011, 21:44."Is someone you don't like allowed to say something you don't like? If that is the case then we have free speech."- Elon MuskComment
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He will announce it otherwise Bank of America and Soc Gen will be gone by Monday morning.Originally posted by Jog On View Post
Oh and gold will hit $2,000.merely at clientco for the entertainmentComment
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