["yuan is pegged to dollar for now
that will not last long"]
the peg won't last long ?...says who - you ?
This is where you and the other "Over-the-Top Gold Hypesters" loose all credibility... you pick a remote possibility out of thin air & hang your thesis on it being a certain coming resolution and then assign a random multiplier to how it's going to ramp Gold ?
That's simply ludicrous.
Who do you think is China's primary Export Customer ?
- the USA.
The last thing in the World that China wants; is for the US Dollar to crash - that means Chinese goods become more expensive for US buyers - ie: we buy less and they sell less.
Your premise would have us believing that the Chinese are going to economically-nuke themselves....I think not.
Both China & Japan want a strong USD & a weaker homeland currency against the USD.
And that is STRONG downside support to the downside freefall that the over-the-top crowd seems to be implying for the USD.
US Policy is a weaker dollar via controlled descent...and that is exactly what we are seeing and what we will get...and it WILL be GOOD for the US Economy....we need it...and a year ago at an Economic Summit US CEO's clamored for at least a 30% weaker Dollar and Steve Forbes, Jack Kent and others called for Gold to rise to $340-$360 as a sign of adequate liquidity in the market...and amazingly; that's pretty much where we now find ourselves heading.
["can you imagine any other changes in this world?"]
...not following you there ?
- if you mean... "can I imagine any other Chicken-Little End of the World Scenario's" ? - No, as I think you and the Mega-Bull Goldbuggers have already hyped them all.
["as euro rose from 98c in November to $1.07 recently,
gold rose from #325 to #390 and now #350
you dont even get the facts right"]
...No, I do have the facts straight.
The USD has been SIGNIFICANTLY lower against the EURO than present levels.
At EURO 1.17 - Gold was significantly lower than it is now...how do you explain that ?
Sometimes the direction of the USD is the primary catalyst to Gold Prices & often it is not. Sometimes it is the threat of War, or Terrorism, sometimes it may be interest rates, deficits, or tax reform policies...you seem to want us to believe that the USD & GOLD must & always move in some specific exponential lockstep...not true & obviously so.
Tokyo-JimWillie;
...you're going to have to PUMP UP THE VOLUME if you want to be the Gloomiest, of the Doomiest Mega-Gold Bulls.... as I think Sinclair has just lost it (and I don't mean "lost it" - as in his ass in the Bullion Market of late) ...I mean psychologically - "lost it"...ie:
... he's going to "double down" on his Gold Positions at each $1 down from $350.
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re: his Email Alert
jsmineset.com
["Strategy:
Put away all the high tech technical analysis tools and break out your ruler. The prime indicator is one. It is a clean power downtrend line break out to the upside. The points are as follows:
Wednesday: $350 or better close, moving higher into the close.
Thursday: $349 or better close, moving higher into the close.
Friday: $348 or better close, moving higher into the close.
Monday: $347 or better close, moving higher into the close.
At each point I have stop orders to double my position."]
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...he evidently didn't just "throw out all of the high-tech TA Tools"...but, common sense and rational behavior as well !?!?!
- doubling down at each $1 tick below $350 ?
"each single dollar down" ?
First he's thrown out a Penny-Stock Promoter-esque PR Statement about his "INTENTIONS" to buy $1M of TanRange Stock - "sometime in the near future"...and now he's sending out PM-Alert's saying he's going to DOUBLE DOWN each $1 tick down from $350 POG !?!?!?!?
Sounds like someone is getting a bit hysterical about defending the descent of gold.
Talk about drawing a line in the sand(rotflmao) ?
...if only we could believe it was real.
If he had said $345, $330, $318 & $307....I guess we could continue to take him seriously....but, doubling down each $1 tick from $350 ?
C'Mon ?
Sinclair is coming off as a clown here; has he completely & totally lost it ? ...or did he just get crushed by this recent retracement and is he trying to get all the other mo-mo players to "ease" his pain by following this absolutely imbecilic "double down" strategy ?
Who would separate their buy stops at $1 increments and double down on each single $1 increment @ $350 ?
PS Tokyo-JimWille
On your comment of :
["the 2:1 gold:dollar ratio is well known
apparently not by you though"]
...I'll stand by my earlier comment that you got that info from that gasseous black hole in space where all the great over-the-top GoldBulls are found; commonly referred to as Uranus.
Even John Maudlin in his piece "King Dollar at the Guillotine" didn't go so far into space as to use a 2:1 ratio...ie:
["My long-held belief is that gold acts like a currency, and if the dollar drops another 10% against the euro, you could easily see another 10% rise in gold."]
...I guess you've topped Maudlin.
Please share with us who uses that 2:1 ratio ? |
