Oldtent Archives 2007 - 2008

The gold market chart of 1978 closely resembles the gold market chart of 2008. The patterns, once a breakout above a previous multi-year high occurred, are nearly identical. If you compare the first seven months after the breakout to a new all time high occurred in 1978 to the first seven months after the breakout to a new all time high occurred in 2008 you will see nearly identical patterns. In 1978 gold rose from the breakout price of $192 to the ultimate high of $873. That was an increase of 450%. If the current gold breakout from the $850 high increases by 450% the ultimate high will be $3,825.00. However, we are living in more dangerous financial times than existed in the 1978 to 1980 period.

“The daily chart below shows that gold is clearly overbought. The series of gaps as gold rises are called “runaway” gaps. Gold is moving into the beginning of what I call a potential buying stampede. Those who have traded out of gold (and there are a lot of them) are now being left behind. In a buying stampede, overbought conditions are traditionally ignored. The idea at this point is to get into the item (gold), and those who wait are left behind. We last experienced a buying stampede in gold during 1979-1980. It may be a bit early, but I suspect that if gold closes above 1000 we will be close to another buying stampede.

Keep it up…..Suddenly, I am able to start to completely comprehend 2_point and Ferret when they write.  I think you have them focused, and I am not kidding.  Look back at their recent posts…….completely in  English.  Now, yours………LOL.

….about 4 or 5 of the CPU thingies came when I was posting a message.  The only thing that is different that I can tell is that I had about 6 saved messages sitting so I got rid of them when I just posted the note to you.  Maybe the problem is some kind of error when the posting mechanism is overloaded.  Like I said, “A dumb idea”……..but……….

beat many to the delete part of saved posts, and many old tired ones ..

wanka…are you up for another purge of saved posts ?

we would have to take it easy and do a few at a time…but now that PMF mentions it the first time I saw the CPU message was when we did the last purge

www.safehaven.com/article-10761.htm

Wheeeuuuuu. Another Economic Stimulus package

check (maybe). Hope it buys an ounce like it did last

time but I don’t think it will. Idiots

Auric

P.S. Almost forgot. Some Russell:

www.321gold.com/editorials/russell/russell071608.html

Is it possible that the CPU thing might decrease if everybody deleted their “saved posts”, again?

We goldtenters of anonymous aliases can only hope that Canada has not also passed a security alert for people of multiple names crossing in the northward direction!  The way things are going here we may need to make a run for the border and become landed immigrants, renouncing our US second-class citizenship.  Fortunately, I already have a Canadian ready to sponsor me as a citizen, if necessary.

After all, it was thee that posted six times asking for comments on the hyperinflation article.  When I posted my thoughts on it, you responded with another article.  Then I post a debunking of the premise behind Saville’s thoughts, and you are now declining to comment on it.  Constructive criticism and genuine discussion are the ways forward for those seriously trying to determine where we are headed, but these attributes seem to be not in your nature.  Rather you prefer to post articles that contradict others opinions, and imply that one is stupid if you disagree with the article.

No, I have not yet received a proper answer from Adrian.  Here is my third e-mail to him:

“My point is that banks cannot just create money the way you described.  That is why they are having capital raisings at the moment, because they are short on reserves resulting from debt defaults.  They do not put through accounting entries to enable them to lend money, they have to borrow it from somewhere themselves.”

Have you heard from your CPA yet, or had a reply from Adrian yourself?

And for a while believed the “to da moon” prophecies

I wouldn’t worry if I was Bill.  Apart from feeling sure he isn’t short of a quid, his subscription rate will skyrocket when gold takes off.

If you look through the “Goldrunner” links to the right, that is exactly what I have been saying since the “March break” happened.  I have some charts where I have highlighted the two time periods to show the very close similarities in the price patterns of stocks as they run.  The best example is GG which is trading almost perfectly to that time period.  One that seems to be bottoming much the same is ECU.  Another that is very similar is BQI.  SLW pretty well “mirrored the moves” of GG, but lagged as the silver usually do.  IMO,, the chart of Silver itself is also in the same type of 5th wave higher, now, and it all should be very explosive.

Here is a recent chart with the similar periods (in my opinion) in red……with silver just now heading toward the old recent highs………………..ect……..

Amals, Yer welcome. He’s posted at 321gold and financialsense and

kitco whenever he has an article.

Oldlurker, I think you’re right:

Auric