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Politics : Welcome to Slider's Dugout -- Ignore unavailable to you. Want to Upgrade?

To: TH who wrote (15823)	2/25/2009 3:10:19 PM
From: Charles Macdonald	1 Recommendation Read Replies (2) \| Respond to of 50735

TH - I am not the sharpest trader in the place, but I think the pullback in Gold should have been expected here. We have had a nice pop into the upper trading range. We are still well within the overall channel. On a complete flush, 920 and then something in the 880s would not be out of the question. IMO - this is overall positive for Gold. It wasn't going to break 1000 on the first, second (and maybe third try). That would announce that the powers that be have lost ALL control - and they can't have that <g>. Gold is going to do it's thing. It is just going to take it's own time. The cat is out of the bag - They may be able to corner it for awhile, but they ain't getting it back in the bag... This is GLD daily.

To: TH who wrote (15823)	2/25/2009 3:26:34 PM
From: SliderOnTheBlack	9 Recommendations Read Replies (3) \| Respond to of 50735

What can and will break the paper Gold shorts? Just one thing. Buying physical. People all over the world, buying the real thing. ...and buy they will. Gold (and silver) coins, and bars. The disconnect between the paper, and the physical market is what will break the backs of the derivative shorts. When no one will sell you any gold for the manipulated "paper" price... it will end. And it's not too far away. 401K's have been halved. Money isn't safe in money market accounts. Everything has bank, mortgage, agency, or derivative exposure. State's going bankrupt. Pension funds disappearing. People who wouldn't know a Kuggerand from a Kangaroo, will soon be buying and holding gold. A week, or so ago, a historic market event took place. It was the equivalent of a nuclear tipped missile fired across America's bow. I've actually been waiting for someone to mention it here. I don't think anyone has? In fact, it didn't receive nearly enough press coverage, or follow up commentary. I don't think people realize the ramifications of it. And that event was China and Russia bypassing the dollar denominated oil market. atimes.com China is paying Russia $25 billion now (total deal $50 B) to develop Eastern Siberian oil supplies sent directly to China. No more OPEC $USD's circulated into US Treasuries = Big US Dollar Problemo! Russia and China... Global Powers #2, and #3 teaming up, and bypassing #1's reserve currency. On top of that... private Russian coporations are about to default on $400 Billion in loans to European Banks. That on top of... 3/4th's of Eastern Europe also about to default on loans to Euro banks. That on top of... the already ongoing economic implosion in Europe... with Banks like Deutsche Bank leveraged more than was Goldman, or Citi. And then there's the realization that this will not be our last bank bailout, or stimulus package... with even Nancy Pelosi saying yesterday that "nationalization is just a matter of semantics." Yesterday we had Sen. Bob Corker from Tenn. trapping Bernanke into a "creeping nationalization, dead man walking... zombie bank" reality. And then Nancy Pelosi admits it... saying it's just "Semantics" and then hours later Obama saying we won't nationalize? Just weeks ago, Obama told us the world was going to end if we didn't get this stimulus package passed and now. Congress didn't get to read it, and Americans didn't get to see it. And then last night, he wants to throw a "homecoming pep rally" and tell us everything is fine, and recovery is just around the corner (when things are really much worse)?!?!?! I can't believe that that the gallery didn't start throwing shoes?!?! He basically told America a complete and total lie last evening. Obama handed us a shit sandwich and told us it was Kobe beef. There are already plenty of reasons to own physical gold, and I can assure you that the world is going to have a lot more... very soon. Trade paper to accumulate physical. And as Mark Skousen just said... kitco.com "As gold inevitably moves higher in price, and stock prices and the dollar fall further, the politicians of envy will speak out against the hoarders of gold and silver. They may not confiscate your gold, but they might dump Treasury gold on the market, or tax it heavily. Smart gold bugs buy their silver dollars and American eagles privately, and store it away secretly." Be a good scout, and be prepared. SOTB