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It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. Henry Ford


Those who surrender freedom for security will not have, nor do they deserve, either one. Benjamin Franklin
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The idea that you know what is true is dangerous, for it keeps you imprisoned in the mind. It is when you do not know, that you are free to investigate. ~ Nisargadatta Maharaj

Friday 28 June 2013

I haven't commented on gold's recent falls,which are quite frankly astounding.One can read about the conspiracy theories (like the interesting article yesterday by Jesse's Cafe) but frankly I dont want to get drawn into that emotional quagmire :-)
Luckily I was cautious just from looking at the charts and haven't recommended a buy for some time (the last setup failed and I had noted the bearish weekly chart) I did believe that physical prices were not following paper down but now some are saying this is not the case.I do believe gold will recover strongly and make new highs in the next 2-3 years but there is no technical evidence for that currently,it is a macro view because I dont believe we are anywhere near the end of Central banks printing money

I thought this was a good article

http://traderdannorcini.blogspot.co.uk/2013/06/gold-snowballing-lower.html
Posted by at

11 comments:

  1. beetlejuice28 June 2013 at 14:04

    Conspiracy theories are for nutters. It is of no coincidence that gold has been declining along with a rising USD, but the conspiracy nuts will never ever look at things in a logical manner.
    They only look to blame someone or something else for their bad calls on gold. They failed to notice the change in trend of the dollar 18 months ago and threw caution to the wind and have thus paid a huge price.

    Gold will go up again, but not until the time is right. We are approaching a bottom and should get a decent bounce, but it is not THE bottom.

    Cheers

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  2. Chartrambler28 June 2013 at 14:11

    I used to think the same.I no longer do. I generally try not to discuss CT because you can't prove one way or the other and for some reason people become over emotional about it. Cheers

    ReplyDelete
  3. Chartrambler28 June 2013 at 14:18

    the thing that opened my eyes to the possible truth of CT was the interview with Aaron Russo by Alex King.I would really recommend watching it.
    Edward Griffin is also a good source (I posted a vid of his last week)

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  4. Anonymous28 June 2013 at 14:37

    http://elliottwavepredictions.com

    ReplyDelete
  5. beetlejuice28 June 2013 at 14:59

    http://whytheconspiracytheoriesarebullshit.blogspot.com.au/2009/04/debunking-bullshit-aaron-russo-and.html

    ReplyDelete
  6. Chartrambler28 June 2013 at 15:39

    Ive seen that article before and disagree.Russo seemed entirely credible to me. We can never prove one way or the other ,just follow our gut. Recent developments....Snowden whistleblowing,Hastings "accidental" death etc do not inspire confidence that all is well. JMO

    ReplyDelete
  7. Chartrambler28 June 2013 at 15:46

    even the incredible stupidity of the people running the EEU makes sense if you accept NWO theories

    and in the UK now we have secret court hearings where people can be arraigned without representation (and Im not tslking terrorists)

    ReplyDelete
  8. Anonymous28 June 2013 at 18:50

    Oh CR,

    Gold is a broken bubble ...years after years it traded in 250-600 area and since 2000's ..boom! to the skies! ... It clearly WAS a bubble. Like the tulips'bubble in Holland in 17 century.
    At the maximum price of one tulip bulb (top of the bubble) it's value was equivalent to a 20 rooms lavish house in the center of the main city of Hollade. That was crazy!

    Gold didn't got there, but followed the same speculative bubble path.

    I'd buy gold in the old range 250-600 $/oz not more, not less ... now it's a bubble that exploded.... it's simple!

    Aunt Annie old, fuzzy trader(and her tom-cat, Pussy)

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  9. Chartrambler28 June 2013 at 19:46

    well we'll see...my own view is that the current system is bankrupt,literally and that the thieves in charge will print until the end....but we'll see

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  10. Anonymous29 June 2013 at 05:39

    NUGT +21% Das a SPICY meata ball!

    ReplyDelete
  11. Anonymous29 June 2013 at 07:01

    Dear CR,

    the danger until 2016-2017 is not inflation, it's deflation. Look at GC, look at GDX, look at all commodities all those years...
    That's why, when Mr. Bernanke has small panic attacks I keep treat him with my magic jasmine tea :). And let him scratch my puffy Pussy.:)
    The last months I've heard him saying that he's thinking at a system to increase the money rotation in economy. Cause he can pump QE until he's dead, if the money rotation doesn't increase ...there's no good. It will produce only small tiny (or large?) mk capital bubbles that will blow one after another. But no real growth. No real usage of economic capacities.
    Now he is trying to talk down the stocks (parabolic rising evolution lately) and he really thinks tapering in August or September 2013 some 10-20 bln $ to test the market.
    He sees the true range of SPX500 in the 1350-1450 area - that's why when he saw SPX 500 above 1600 he had a problem with that. Doesn't want another blow-off move like in 2000's on Nasdaq.

    The current system is not (yet) bankrupt and can easily roll another 3-5-10 years just like that. Some smart heads pumped the gold in the early 2000's and than sold gold to idiots in 2011-2012.

    Until I don't see gold in the 250-600 $/oz area , I won't buy it. Maybe I'll swing-trade it electronically , but won't buy it.
    Gold is gold's fools :).

    Aunt Annie 87-years old trader and her puffy Pussy (grey russian tom-cat). :)

    ReplyDelete

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