[Samseau]

(06-28-2011 05:45 AM)Vicious Wrote:  

With Greece and the USA debt rattling ominously at the same time I have simply not dared to put my latest real estate gains into any market. Right now they are sitting on a bank account with a measly 3% yearly interest rate but seeing how I there's so little consensus on the market right now (other than telling people to brace themselves) I can't imagine doing anything else.

Well, if you have an options account and you think things will tank, now's a great time to buy some puts.

[thegmanifesto]

(06-28-2011 05:45 AM)Vicious Wrote:  

With Greece and the USA debt rattling ominously at the same time I have simply not dared to put my latest real estate gains into any market. Right now they are sitting on a bank account with a measly 3% yearly interest rate but seeing how I there's so little consensus on the market right now (other than telling people to brace themselves) I can't imagine doing anything else.

Which bank is giving you 3%?

[Vicious]

(06-28-2011 12:00 PM)thegmanifesto Wrote:  

(06-28-2011 05:45 AM)Vicious Wrote:  

With Greece and the USA debt rattling ominously at the same time I have simply not dared to put my latest real estate gains into any market. Right now they are sitting on a bank account with a measly 3% yearly interest rate but seeing how I there's so little consensus on the market right now (other than telling people to brace themselves) I can't imagine doing anything else.

Which bank is giving you 3%?

Swedish one called Blue Step is handing me 3.25%. 3 month lock when withdrawing.

[MrM27]

(06-28-2011 05:08 PM)Vicious Wrote:  

(06-28-2011 12:00 PM)thegmanifesto Wrote:  

(06-28-2011 05:45 AM)Vicious Wrote:  

With Greece and the USA debt rattling ominously at the same time I have simply not dared to put my latest real estate gains into any market. Right now they are sitting on a bank account with a measly 3% yearly interest rate but seeing how I there's so little consensus on the market right now (other than telling people to brace themselves) I can't imagine doing anything else.

Which bank is giving you 3%?

Swedish one called Blue Step is handing me 3.25%. 3 month lock when withdrawing.

What are the holdings of that fund/CD that is giving 3% in this day and age of ZIRP? A lot of money market funds are holding bad euro sovereign and bank debt. I've got my cash in short term T-bill funds.

[Vicious]

Can't quote the exact holdings but the Swedish state guarantees (there's an english word for this but I can't remember it at this second for soem reason) that in the event of a bank collapse it will compensate all account holders their full amount.

[thegmanifesto]

(06-28-2011 05:08 PM)Vicious Wrote:  

(06-28-2011 12:00 PM)thegmanifesto Wrote:  

(06-28-2011 05:45 AM)Vicious Wrote:  

With Greece and the USA debt rattling ominously at the same time I have simply not dared to put my latest real estate gains into any market. Right now they are sitting on a bank account with a measly 3% yearly interest rate but seeing how I there's so little consensus on the market right now (other than telling people to brace themselves) I can't imagine doing anything else.

Which bank is giving you 3%?

Swedish one called Blue Step is handing me 3.25%. 3 month lock when withdrawing.

Impressive. Thanks for sharing, Vicious.

I checked out the site, but I could only read some parts. My Swedish is pretty poor.

Can Americans open accounts with them?

[Vicious]

(06-29-2011 03:21 AM)thegmanifesto Wrote:  

Impressive. Thanks for sharing, Vicious.

I checked out the site, but I could only read some parts. My Swedish is pretty poor.

Can Americans open accounts with them?

You have to be a Swedish national, though if you have a registered company in the coutnry you could get around that.

This is the Swedish govt details (in English) on how the National deposit insurance work:
https://www.insattningsgarantin.se/en/
Worth to note is that it's capped at 250.000SEK~ $400000 as it is mainly geared towards private savings rather than corporate capital. Though it's fairly easy to get around that as well with multiple accounts. Not that it's a problem though, Swedish banks are historically solid with no mid-to-major bank going down during the financial crisis.

[truedat]

Im loving those pounds of gold I bought at $1,420 2K-2,500 an ounce in 2011. Bet on that.

[truedat]

Gold just dipped and soon it was say goodbye to the 1,700's. If you have dollars laying around get in now because it will def be above 2K by the end of the year.

[Samseau]

Yes, margin requirements for gold were hiked recently. It will give a small buying opportunity.


QE3 has already started. By promising to keep rates low until 2013, it means the Fed must be manipulating the markets with some kind of liquidity injections to keep rates at those levels.

[Jase]

I'm all in. Find hard t believe that I will get a windfall though although I would neck myself if precious metals went parabolic and I wasn't in the game.

[PDX]

The dip is on. Who's buying?

[thegmanifesto]

(09-23-2011 12:30 PM)PDX Wrote:  

The dip is on. Who's buying?

I think I may pull the trigger soon.

[rudebwoy]

Silver is at 31, I bought big time today to add to my stockpile. Bigger gains are going to be had by silver than gold.

[mycleverid]

First off: I'm not a metals believer at all. Not for pure speculation. As a hedge, I get. As your big, speculative upside play, not so much. So, take that into account when I ask this question.

Are you guy's factoring the dollar-for-dollar loss that buying gold in dollars will cause you as the dollar strengthens and the euro shits itself to death?

It's an irrelevant question if you bought gold in euros. In fact, that's an excellent example of buying gold as a hedge. But, for those buying in dollars, have you factored in how when the dollar strengthens it will become cheaper to buy gold in dollars?

I'm asking more out of academic curiosity than any desire to swim in that pool. I happen to be in the group of people who feels gold has become one more currency -- a currency inflated by mining at a relatively predictable rate of 1% a year. I'm curious how you guys (if you do) factor in what happens to gold as it competes with true currencies.

[zoom]

Why are you so bullish on the dollar? The ecomony is only going to get a lot worse and the federal reserve is only going to print more money, thus devaluing the US dollar.

"I'm curious how you guys (if you do) factor in what happens to gold as it competes with true currencies."
True currencies? The US dollar is nothing more than IOU from the Federal Reserve. It has no backing to it, unlike gold and silver which will always have value.

[cellblock4]

(09-24-2011 08:09 AM)zoom Wrote:  

Why are you so bullish on the dollar? The ecomony is only going to get a lot worse and the federal reserve is only going to print more money, thus devaluing the US dollar.

"I'm curious how you guys (if you do) factor in what happens to gold as it competes with true currencies."
True currencies? The US dollar is nothing more than IOU from the Federal Reserve. It has no backing to it, unlike gold and silver which will always have value.

i would argue that a shotgun has more value than gold or silver if shit really hits the fan. it seems like gold/silver is a hedge, but if we really do implode, do you think you'll be shaving off a piece of that gold brick in your pocket to buy milk and eggs? IMO, the veil of civility is just that: a thin veil.

[zoom]

I wasn't necessarily talking about an end of the world scenario, I was just stating that gold and silver are safe investments that will gain value in the future.

I would agree that a shotgun would have more value in a doomsday scenario, but it wouldn't be used to buy necessities.

[rudebwoy]

The dollar is dead and will lose alot of it's value in the upcoming months. Precious metals will continue to rise, which is a good way to protect your financial investments.

[camrondells]

As early as 2003 some of the guys cornered me at a party and tell me how he as much as possible hoarding silver. He also mentioned that his shirt has holes, it warned that the guns from the hands, he always wore leather hammer.

[thegmanifesto]

Do you guys think gold and silver will sell off here like 2008?

And money will rush into the dollar?

[Gunner]

(09-26-2011 12:13 AM)thegmanifesto Wrote:  

Do you guys think gold and silver will sell off here like 2008?

And money will rush into the dollar?

Gold 1,400
Silver 18

Those are my targets for buying, right now the USD is the king of the world.

[thegmanifesto]

(09-26-2011 01:12 AM)bars Wrote:  

(09-26-2011 12:13 AM)thegmanifesto Wrote:  

Do you guys think gold and silver will sell off here like 2008?

And money will rush into the dollar?

Gold 1,400
Silver 18

Those are my targets for buying, right now the USD is the king of the world.

Interesting.

I am thinking the same thing on silver.

What kind of time frame do you think that will happen in?

[Samseau]

Without QE, PM's should only maintain current price levels but not increase.

Right now the Euro is dying. This is a 2008 redux. Money is flowing into the dollar as a response to the crisis. And as long as the USA can profit from Europe's demise, with fresh foreign funds flowing into US Bonds, why would the Fed need to do more QE?

QE is a response to a lack of demand for US Bonds. The FED picked up the slack when demand for US Bonds was dropping after 2009. That's all QE comes down to. Low demand for US Bonds and there will be QE. The FED's recent Operation Twist is just a way to help push money into short term bonds so the US will be flush with tons of cheap cash to profit from the death of Europe.

Downright devilish, if you ask me.

As far as the bottom goes, I will be SHOCKED if silver stays below 30 and gold stays below 1500. The demand for the metals has become voracious as the prices for them have dropped due to Europe's liquidation. Dropping below 30 or 1500 and the big big big big money funds will start buying, pushing the prices right back up.



Metal dealers everywhere are taking huge losses from this.

Quote:

I am thinking the same thing on silver.

What kind of time frame do you think that will happen in?

It really depends on how long the Euro's death lasts. If Europe's death takes 4-6 months, like the 2008 crisis did, then PM's will stay low throughout the year. There should be plenty of time to buy.

Fuck, we might not see PM's rise again until 2013. Once Obamacare kicks into 2014, we'll see the USA's deficit really explode, Japan style. Then money printing will become all the rage. My timeline for the bankruptcy of the USA is around 2020, so these next two years are gonna be impossible to predict. The dollar will probably stay king until the USA's bankruptcy starts in earnest.

I personally did not expect the Euro to go down so easily, and it may still yet be saved with heavy Euro printing.



NOTE: Be wary of rate increases. Any rate increases means the death of the PM bull run. The FED said they will not increase rates until 2013, so there's nothing to fear just yet.

[rudebwoy]

The powers that be don't want the common man getting into precious metals, it is the only thing that has value these days.

So they suppress the market price to keep the "Joes" away and believing in the stock market etc.

I tried to buy more silver today, my dealer does not want to sell at these low prices unless it is a huge order.