Real DOOM: Gold

[scooterscot]

with fiat currencies going down the pan due to massive money printing , gold is never going to $600.

What printing? Nothing new has been printed. The only new money in circulation is electronic. As it turns out the FED can delete that electronic money as quickly as they created it. None of the gold bugs will talk about this mind you.

By way of example - between 2011 and 2016 the FED printing press went into overdrive, they 2x'd the balance sheet with electronic money. Gold price action crashed by half from $2k to $1k in the same period. However, using your argument gold should have went from $2k to $4k, not $1k!

Point is, when gold price appreciates due to electronic money creation - it really does pay to do your homework.

[Andy2]

Give it time.. price action has been moving inside the same channel since 1975

Spot Gold price has almost 10x since 2001, whereas the FED balance sheet despite all the printing has managed almost 7x.

with fiat currencies going down the pan due to massive money printing , gold is never going to $600.

[scooterscot]

Give it time.. price action has been moving inside the same channel since 1975

Spot Gold price has almost 10x since 2001, whereas the FED balance sheet despite all the printing has managed almost 7x.

[Andy2]

Why Gold Prices Are Hitting All-Time Highs - WSJ

you will not be laughing when gold hits $600 as predicted by our resident nostradamus

[DimPrawn]

Hey thanks for re-posting. Very interested to see how these age. I stand by my $1200 or lower gold prediction.

In fact I see gold price action has formed a perfect rising wedge pattern. 70% of the time they breakout to the downside and when they do, 90% time they re-trace to where they started.

Why Gold Prices Are Hitting All-Time Highs - WSJ

[scooterscot]

The problem with the market is there are three types of gold, real gold, fractional gold and paper gold. Even Fort Knox only keeps fractional gold. In other words there is not enough gold to cover if everyone wants to retrieve their own gold bars. Most markets just sell worthless paper which are what hedge funds are about. It is very easy for people to lose confidence in the market.

The music will continue to play fur as long as someone exchanges paper gold value for the physical.

My question, why are folks concerned with paper gold when the US can print from nothing and purchase the physical? The outrageousness.

[AtW]

The is also fictional gold, also known as fools gold or Poopers Special

[Paddy]

“ Doomsday Hedge Fund Sees Gold Topping $3,000 an Ounce

Diego Parrilla, who heads the $450 million Quadriga Igneo fund, says unprecedented monetary stimulus is fueling asset bubbles and corporate debt addiction -- rendering interest-rate hikes impossible without an economic crash. In the ensuing market mania, the manager whose portfolio is loaded up with cross-asset hedges says gold could rise to $3,000 to $5,000 an ounce in the next three to five years, up from the current price of $1,800.“

https://www.bloomberg.com/news/artic...&sref=o1Dqf087

The problem with the market is there are three types of gold, real gold, fractional gold and paper gold. Even Fort Knox only keeps fractional gold. In other words there is not enough gold to cover if everyone wants to retrieve their own gold bars. Most markets just sell worthless paper which are what hedge funds are about. It is very easy for people to lose confidence in the market.

[scooterscot]

But Scoots says it's going to $600.

https://www.contractoruk.com/forums/...ml#post2728265

His BTC, Gold and Nasdaq predictions for 31 Dec 2020 are a little off at the moment but I guess there's still 5 months to go.

https://www.contractoruk.com/forums/...ml#post2728544

Hey thanks for re-posting. Very interested to see how these age. I stand by my $1200 or lower gold prediction.

In fact I see gold price action has formed a perfect rising wedge pattern. 70% of the time they breakout to the downside and when they do, 90% time they re-trace to where they started.

[AtW]

Does that make the Thistle Hotel Heathrow good or bad?

Ugly

[Old Greg]

What if his predictions are a double bluff?

Does that make the Thistle Hotel Heathrow good or bad?

[DimPrawn]

if you follow scoots predictions ,you will lose your shirt.
he is the best contrarian indicator though.

What if his predictions are a double bluff?

[Andy2]

But Scoots says it's going to $600.

https://www.contractoruk.com/forums/...ml#post2728265

His BTC, Gold and Nasdaq predictions for 31 Dec 2020 are a little off at the moment but I guess there's still 5 months to go.

https://www.contractoruk.com/forums/...ml#post2728544

if you follow scoots predictions ,you will lose your shirt.
he is the best contrarian indicator though.

[DealorNoDeal]

But Scoots says it's going to $600.

https://www.contractoruk.com/forums/...ml#post2728265

His BTC, Gold and Nasdaq predictions for 31 Dec 2020 are a little off at the moment but I guess there's still 5 months to go.

https://www.contractoruk.com/forums/...ml#post2728544

[AtW]

“ Doomsday Hedge Fund Sees Gold Topping $3,000 an Ounce

Diego Parrilla, who heads the $450 million Quadriga Igneo fund, says unprecedented monetary stimulus is fueling asset bubbles and corporate debt addiction -- rendering interest-rate hikes impossible without an economic crash. In the ensuing market mania, the manager whose portfolio is loaded up with cross-asset hedges says gold could rise to $3,000 to $5,000 an ounce in the next three to five years, up from the current price of $1,800.“

https://www.bloomberg.com/news/artic...&sref=o1Dqf087