Loading ...silver
if we get a close tomorrow above $14.00 in december comex silver, the door ain’t gonna be nearly big enough.
rno
Equiz,
- I was actually talking about anecdotal evidence in the U.S…The day is here and now for difficulty in selling a house in the lower mainland..Sales have literally dried up and next month CMHC slams the door on 100% financing..The real estate market around here is done. period. .Equiz, it’s not necessarily about lesser wealth in one’s ability to obtain credit..It’s more about debt ratios, job stability and credit history and if need be the security that will be pledged for the loan..For the consumer ,that security will be the home or perhaps the vehicle being purchased..For the small biz it could be company assets and personal guarantees of the officers. Thankfully we are going back to prudent lending practices in the future (as it always shoud have been IMO). Whether that will precipitate deflation is still the big debate of course..I don’t know Equiz, but I have yet to see deflation in the things we need…Cheers
Bulletin from Midas
Adrian Douglas has updated us his Goldman Sachs TOCOM
activity, which will be included in MIDAS, as usual. However,
this is potentially a momentus event, so I thought it fun
to get it out there to as many people, and as early, as possible….
GOLDMAN SACHS GOES NET LONG GOLD ON TOCOM
In the September 29 session on the TOCOM Goldman Sachs
COVERED 13 short contracts and bought 495 long contracts
to bring their long position to 2,525 contracts AND AS
A RESULT MAKING THEM NET LONG 28 CONTRACTS!!! The largest
net short position they held was 52,000 contracts in
March of 2006.
Below it is shown graphically. The declining net short
position has been going on for 30 months and I have
predicted for some time that GS would eventually be
net long just before the gold price explodes. Well here
we are! John Reade of UBS poked fun at me for this
analysis saying that GATA doesn’t know what an arbitrage position is. Well, Mr. Reade I do know, and this sure
as hell isn’t one! This chart documents perfectly the
demise of the gold Cartel. It should be noted that in
July Goldman Sachs advised its clients to sell gold as
they said gold was going to $740/oz. Their price prediction turned out to be accurate, however, they did not sell
gold from their own account during that time; they
covered their shorts with the aid of charitable donations
from the clients who followed their advice!
(CHART WILL BE IN MIDAS COMMENTARY TOMORROW)
Here is the estimated liquidated value of the GS
TOCOM gold position. I no longer have to extrapolate
this as their net short position has now been eliminated.
GS has lost approximately 185 MM$ on their TOCOM
position since I started tracking the data in January
2006. One has to wonder why a company as smart as GS
would tolerate being in an increasingly losing position
for so long. I think we know the answer. The suppression
of the gold price facilitated orders of magnitude
larger profits to be made in other markets.
Now that Goldman Sachs has finally come on to the GATA
side of the market we can expect a gold price explosion.
For a long time many in our camp wondered if the Cartel
was so smart they could continue their manipulation for
ever. We have seen in the last few weeks that some of
the key players have stepped on their own land mines.
The laws of economics can be frustrated but not repealed.
Cheers
Adrian
fgc
who would have thunk it. i just follow them wherever they take me. my short bonds are currently taking me to the cleaners. i hope interest rates can’t go below 0.
rno
hk_nt @ 23:33 pm - if you look at the right hand side
of this page you will see a link “redneckoki rpw” - it will explain it all there.
http://arch0708.goldtent.net/2008/08/24/fgc-one-more-time/
=CG
what does rpw stand for?
thanks.
Moggy - I admire your ability with the astro charts
Larry Pesavento on Tom O’Brien’s show, is talking about the planets and some huge event between Oct 6 and Oct 10. He thinks the big crash is there.
rpw up in the dow
no one is more surprised than myself that a buy signal in the dow has surfaced. today made point 5 of a five point rpw. buy execution is close over high of low day, whenever that may be. rpw’s show up when blood is in the street and they come in bunches. i have mentioned several in the past several days. the up move in the dow will certainly be a correction of the big down move since the ultimate top (similar to the usd move, so far), but it may be fast and furious and run further than we think possible.
rno
ment17 - agree
credit is their power, their oxygen, without the ability to incarcerate the sheep with debt - they die
This is a ruse, extreme fearmongering and extortion at the highest level.
If you can still pay up, credit is in your face
thanks moggy
eom