sell! sell! sell!

[tiznow]

also i'm not trying to malicious in any way i enjoy discussing economic topics and enjoy discussion in general

look you made a great call on gold in this forum and if i was around during the time i woulda been by your side saying the same thing (well until the most recent run i dumped PMs back in 2006)

all i'm saying is the times are changing now markets are turning over and we heading for a recession

we are in a whole new ballgame on all fronts not just gold

gold i'm very fuzzy on and enjoy the discussion

overall as far as my opinions go the most strong one is we are in a new equity bear so that's where alot of my investments (bets) lie

 

[tiznow]

well i'm done for the night should be interesting tomorrow

CSCO dropped the bomb futures still off

25 naz 100, 65 dow

japan pretty much flat, rest of asia dormant pretty much for chinese new year

and we got UK and ECB possible rate cuts before open tomorrow

UK likely cutting rates, ECB (euro) might....this will obviously have an affect on the USD vs. other fiat currencies

 

[Dawoofdaddy]

your always implying i'm some sort of gold bear i'm just discussing the topic of gold with you everytime i take a negative tone and don't agree with you, you get defensive a try to say i'm saying gold is useless

currently, i'm pretty much neutral, while i was a gold bug when the funny money games were working, economies were expanding, people had lots of cash to invest in gold, and we had rampant worldwide inflation (inflation rates in china obscene)

i own gold, and am not selling it, and think near term (1-2 years) we could pull back to the 700s

Im not implying nor do I care if you are a gold bull or bear. What Im posting about is eventhough you post daily about gold, its very unclear reading your posts what your opinion is about gold.

You are "pretty much neutral", but you own it, arent selling it, wont short it, but still think it could fall 20%.

How can you be neutral about a commodity while owning it, and still thinking its quite possible its going to fall 20%?

:think2:

 

[tiznow]

its 15% of my holdings i'm diversified DAW (plus in my position its kinda running with the profits, i bought in the 400s and was also long alot of miners)

also i'm neutral AT THESE PRICES, if i see 700ish gold i might take another look and see about adding on i already said that

i sold my miners in 2006 and kept the gold

i have more cash than i have gold!!!

i also have some conservative longs i'll look at 40 years from now

and 50% is short (some of it hyper short via leverage so that's what controls my portfolio)

if gold goes to 200 and markets go to 3k i'll be doing just fine

 

[Dawoofdaddy]

I dont see $200 gold happening, but anything is possible. The market is and will be the boss.

If the dow falls to 3k, this thread should easily have 100k posts.

Ok, seriously this time, need to sleep for I want to be fresh tomorrow morning to listen to cnbc pundits talking about csco and still wondering IF the economy will go into or already is in recession.

:WTF:

 

[tiznow]

i was just making an outlandish example if we have a huge deflationary depression of sorts....night DAW....i enjoy the discussion

yeah tomorrow gonna be interesting with ECB and UK possible rate cuts tonight too

 

[eek.]

This is kinda like watching a Gold bug Jedi and an apprentice having a conversation....

The goldforce will be with you young Tizwalker.

Use your feelings and feel the goldforce.

 

[Talenz]

I'm curious what would happen to the price of gold if instead of China revaluing the Yuan it decides to switch to a gold standard currency?

Most expect China to buy up western assets with all their dollar reserves but there are a few who think they may instead use those reserves to try and undertake a gold standard.

I understand this might be moonbat talk but if the NWO idea is real, which it seems to be and the Asian block doesn't seem all that interested in it, wouldn't China going to a gold standard pretty much stop the NWO idea in its tracks or would the western countries (bankers) fight it, at all costs.

 

[Dawoofdaddy]

I dont think its in their best interests right now to do that since their economy and growth is dependent on exports, and the us is a major customer.

Ive read that the Chinese banking system has 2 trillion of bad loans and they are currently inflating (printing) more money than the US. I believe Chinas' money supply growth last year was 20% vs. 13-15% in US.

If China does switch to a gold backed currency, the rmb (yuan) would rise vs. the usd, and gold in terms of usd would also rise.

However, Id like to see a major country return to a gold standard. Unfortunately, the US doesnt appear to be among the candidates.

 

[Dawoofdaddy]

From Yahoo

"Euros Accepted" signs pop up in New York City

NEW YORK (Reuters) - In the latest example that the U.S. dollar just ain't what it used to be, some shops in New York City have begun accepting euros and other foreign currency as payment for merchandise.

We had decided that money is money and we'll take it and just do the exchange whenever we can with our bank," Robert Chu, owner of East Village Wines, told Reuters television.

The increasingly weak U.S. dollar, once considered the king among currencies, has brought waves of European tourists to New York with money to burn and looking to take advantage of hugely favorable exchange rates.


"We didn't realize we would take so much in and there were that many people traveling or having euros to bring in. But some days, you'd be surprised at how many euros you get," Chu said.

Now we have to get familiar with other currencies and the (British) pound and the Canadian dollars we take," he said.

While shops in many U.S. towns on the Canadian border have long accepted Canadian currency and some stores on the Texas-Mexico border take pesos, the acceptance of foreign money in Manhattan was unheard of until recently.


Not far from Chu's downtown wine emporium, Billy Leroy of Billy's Antiques & Props said the vast numbers of Europeans shopping in the neighborhood got him thinking, "My God, I should take euros in at the store."
Leroy doesn't even bother to exchange them.


"I'm happy if I take in 200 euros, because what I do is keep them," he said. "So when I go back to Paris, I don't have to go through the nightmare of going to an exchange place."



-------

And to think only a generation ago, the us peso was "as good as gold". Hardly so today.

When will Americans realize our govt & the federal reserve and its printing presses have stolen and are still stealing from us via inflation?

Eventually, people will again understand that gold is the solution.

 

[tiznow]

dollar up vs. other fiat again today

UK cut, and ECB got rid of its hawkish language and will likely cut rates in the future, they are the big losers on the day in the currency world (GBP and euro)

when i start seeing that type of stuff DAW tells me euro is toppy

 

[Dawoofdaddy]

I agree about the euro.

The EU demographics and pension problems are worse than whats facing the US.

 

[tiznow]

However, Id like to see a major country return to a gold standard. Unfortunately, the US doesnt appear to be among the candidates.

somebody would go to silver before they go gold i would think, there was some talk about it in mexico in past few years but not really sure if its lead to anything

 

[tiznow]

even american tobacco having some issues

rai getting hit pretty good today on earnings

it's one of my "conservative longs" and is basically flat line overall since october market peak

 

[Brooklynbomber]

people who have been brainwashed that "cash is king" are in for a rude awakening

"official" inflation numbers are 4.1% while the 2 year treasury is in the 2's:shocked:

just a matter of time before the public puts down the remote control and realize their pockets are being picked and move to protect what they have

 

[tiznow]

put a fork in the relentless consumer

------------------------------------------

Stores Had Disappointing January Sales
Thursday February 7, 10:39 am ET
By Anne D'Innocenzio, AP Business Writer
Retailers Report Weakest January Results in Nearly Four Decades As Shoppers Pull Back Further

NEW YORK (AP) -- The nation's retailers delivered more evidence of a stumbling economy Thursday, as merchants reported their weakest January performance in nearly four decades, extending a malaise that has deepened since the holiday shopping season.

 

[tiznow]

Jobless Claims Show Labor Market Strain
Thursday February 7, 9:32 am ET
By Martin Crutsinger, AP Economics Writer
Jobless Claims Fall but Are Still at a Level Indicating Labor Market Is Under Strain

WASHINGTON (AP) -- The number of newly laid off workers filing applications for unemployment benefits dropped last week, but not enough to indicate that strains on the labor market are easing.

The Labor Department reported Thursday that 356,000 claims for jobless benefits were filed last week, a decline of 22,000 from the previous week. The decline only erased a part of the huge jump of 72,000 in claims of the previous week.

 

[tiznow]

people who have been brainwashed that "cash is king" are in for a rude awakening

"official" inflation numbers are 4.1% while the 2 year treasury is in the 2's:shocked:

just a matter of time before the public puts down the remote control and realize their pockets are being picked and move to protect what they have

as this pig collapses into recession

sheep aren't gonna look to each other and say gee i need to run out and buy some gold

no they are gonna be like gee i need to stop spending so much damn money, start thinking about my future, and start saving (in the form of cash)

gimme a break

 

[Dawoofdaddy]

A few more thoughts about china and the rmb (yuan) becoming a gold-backed currency.

Since they are now holding over a trillion pesos in reserve resulting from our massive trade deficit, right now china stands to lose if the peso tanks too quickly.

However, as us consumer spending continues falling, asian demand for chinese goods increases, and demand from a growing chinese middle class increases, china eventually would greatly benefit via a gold-back currency.

If they make that move, I will predict the rmb will replace the us peso as the worlds' reserve currency. That distinction, which is partly why Americans have had a higher than average standard of living, will catapult China into the worlds' dominant economy.

A similar thing happened mid 20th century when the usd dismantling the british pound from its perch. The uk really hasnt been much of an economic superpower since.

It really is a shame most Americans are still asleep at the wheel about this and despicable our leaders are flushing our currency down the toilet.

 

[Brooklynbomber]

I may be moving back into the landlord biz sooner than I thought

I sold this house in 2005 for $370K and it is now for sale for $205K. It is a short sale, and in the likely event there are no takers soon to be a foreclosure. pretty decent chance I can get at $185K or $195K, 50% off peak price.

http://www.zillow.com/HomeDetails.htm?zprop=26015578

I've said for years the fundementals need to return for me to re-enter RE. I can put down 20% (37-39K) and have positive $260 month cashflow.....about a 10% yearly return on my down. House is solid too.

PS - to the sheep like tiz who missed the boat and think they are going to pick up RE and stocks at 90% off.....all I can say is :missingte:missingte