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#16 |
Banned
Join Date: Feb 2009
Location: Fort Worth, TX
Casino cash: $49339
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Posts: 24,946
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#17 |
Banned
Join Date: Feb 2009
Location: Fort Worth, TX
Casino cash: $49339
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It should always have a place in your overall portfolio. It should never be the main asset in your portfolio.
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Posts: 24,946
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#18 | ||
Supporter
Join Date: Feb 2005
Location: Olathe, Ks
Casino cash: $74227
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Meh, don't like metals. Commodities, yes. Metals, not so much. I traded the GLD ETF here and there some, but if I was going to own metals directly I'd be more inclined to own copper but again, I am not a metals person.
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#19 |
Banned
Join Date: Feb 2009
Location: Fort Worth, TX
Casino cash: $49339
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Metals and commodities fall into the same category for me. They are highly correlated.
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#20 | ||
Supporter
Join Date: Feb 2005
Location: Olathe, Ks
Casino cash: $74227
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I meant I would buy commodities in general and not just metals. Sorry for not being more clear on that.
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#21 |
Starter
Join Date: Aug 2005
Location: Seattle, WA
Casino cash: $5180
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Massive drop in gold prices give a precursor to next major economic crash
On April 15, gold spot prices dropped more than 7% in the first two hours of trading in the U.S., expounding upon the 5% drop in price that took place on Friday. This crash of more than $200 per ounce over the past two trading days provides a warning sign, and a precursor to a major financial crash coming to the global economy. “In July 2008, gold quickly dropped 21% - seemingly pre-empting the Lehman debacle and the collapse of the western banking system. In September 2011, gold fell 20% in a short period - as Europe's risks exploded and stocks slumped prompting a globally co-ordinated central bank intervention the likes of which we have not seen before." - Zerohedge Gold and silver have always been barometers of the strength of a particular currency, and as an asset hedge to other paper investments. When major selling of gold takes place in the markets, the primary reason is the need for sovereign countries, banks, or hedge funds to liquidate holdings to cover margin calls, or use as collateral for debt obligations. We are seeing this take place as the Troika calls for Cyprus to hand over their gold reserves to collateralize a sovereign bailout, and investment banks dumping more than 400 tons of gold onto the markets over the past few days to create solvency in preparation for a potential monetary crisis. In the aftermath of the 2008 credit crisis, gold first fell to $746 per ounce, only to climb back over $1900 as the Federal Reserve began money printing under QE1, 2, and 3. Most of that stimulus in the Western economies went to the equity and stock markets, while Asian governments concentrated on buying gold as a hedge to the dollar's devaluation. However, China today issued a negative report on GDP and manufacturing for the last quarter, and the global economy is recognizing that all areas of the world are now in recession. History shows that hyperinflation is always preceded by massive asset deflation, pushing central banks and sovereign government to monetize far above desired risks. Today's sell-off of gold, silver, oil, and other assets, coupled with China's horrific economic numbers, is a warning and a prelude to another major economic crisis coming, similar, if not worse, to what took place in 2008 in the U.S., and in 2011 in the Eurozone. http://www.examiner.com/article/mass...economic-crash |
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#22 | |
Banned
Join Date: Feb 2009
Location: Fort Worth, TX
Casino cash: $49339
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That article is so slanted and data deficient Here's the charts (first time posting a Bloomberg chart so let's see how it works. had to kind of jump through hoops to get it to work right because of the terminal settings) |
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#23 |
Banned
Join Date: Feb 2009
Location: Fort Worth, TX
Casino cash: $49339
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And just for shits and giggles
SPX vs Gold since 1980 |
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#24 |
Banned
Join Date: Feb 2009
Location: Fort Worth, TX
Casino cash: $49339
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And a SILV 5 year
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#25 |
Bucs, Pats, Noles
Join Date: Apr 2006
Location: None of your business
Casino cash: $70063
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Some of Marc Faber's Past Predictions:
• Faber is credited for advising his clients to get out of the stock market before the October 1987 crash.
• Faber predicted the rise of oil, precious metals, other commodities, emerging markets, and especially China in his book Tomorrow's Gold: Asia's Age of Discovery. • Faber correctly predicted the slide of the U.S. dollar since 2002 • Faber predicted in early 2007 that a major market correction was "imminent." • Faber correctly expressed temporary bullishness for the U.S. dollar in the middle of 2008 before it dramatically recovered • Faber correctly predicted markets in 2011 and 2012 as well including QE to infinity http://en.wikipedia.org/wiki/Marc_Faber
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![]() “Preventive war was an invention of Hitler. I would not even listen to anyone seriously that came and talked about such a thing.” ~ Dwight D. Eisenhower |
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#26 | |
In BB I trust
Join Date: May 2003
Location: Boston, Mass.
Casino cash: $29908
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Aren't you the idiot who criticizes me every time I use Wikipedia for anything. I'll need to add hypocrite to the list of insulting adjectives that accurately describe you.
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#27 | |
Veteran
Join Date: Dec 2006
Location: Los Angeles
Casino cash: $12913
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In other news...
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Homer: [looking at watch] Two hours? Why'd they build this ghost town so far away? Lisa: Because they discovered gold over there! Homer: It's because they're stupid, that's why. That's why everybody does everything. |
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#28 | |
Bucs, Pats, Noles
Join Date: Apr 2006
Location: None of your business
Casino cash: $70063
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Quote:
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![]() “Preventive war was an invention of Hitler. I would not even listen to anyone seriously that came and talked about such a thing.” ~ Dwight D. Eisenhower |
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#29 | |
"Think BOOM!"
Join Date: Nov 2003
Location: 33.675° N 106.475° W
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I think the young people enjoy it when I "get down," verbally, don't you? |
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#30 | |
"Think BOOM!"
Join Date: Nov 2003
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I think the young people enjoy it when I "get down," verbally, don't you? |
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