Gold

NEW -> Contingent Buyer Assistance Program
When you buy any type of investment you can apply this quote.





Only buy something that you'd be perfectly happy to hold if the market shut down for 10 years.

-Warren Buffet
 
[quote author="PANDA" date=1224999060]A Question to all of you since CalGal loves Panda's questions. Which Asian race have you experienced to be the most dishonest people doing business with in Irvine?



1) Indians

2) Koreans

3) Chinese

4) Japanese

5) Taiwanese

6) Vietnamese

7) Irvinese <- all other Asians living in Irvine not mentioned above.



When HMart opens up at Diamond Bar, be very careful on what you buy at the retail stores inside. 99.9% of the stores have a no refund policy even if the product is unused and brought back the next day, and no where will you see a sign stating "No Refund". Just a personal experience I had recently.</blockquote>


Realtors.
 
[quote author="blackvault_cm" date=1224999598][quote author="PANDA" date=1224999060]A Question to all of you since CalGal loves Panda's questions. Which Asian race have you experienced to be the most dishonest people doing business with in Irvine?



1) Indians

2) Koreans

3) Chinese

4) Japanese

5) Taiwanese

6) Vietnamese

7) Irvinese <- all other Asians living in Irvine not mentioned above.</blockquote>


All but Indian. Indians really aren't asian. They are white people with darker features who happen to like IT.</blockquote>


Huh? Blackvault, I am not talking about the American Indians from the Cherokee Tribe where the Pilgrims came and stole their land, I am talking about your lovable brown Dunkin Donuts Indians.
 
[quote author="awgee" date=1224996587][quote author="usctrojanman29" date=1224991855][quote author="PANDA" date=1224990582][quote author="awgee" date=1224982372]I keep reading comments that the Chinese will never sell their US treasury notes because the chinese need the US to buy their products, and the US dollar will stay strong because the US is the strongest economically and the US will lead the world economically.



<a href="http://www.reuters.com/article/email/idUSTRE49N1XX20081024">Chinese view on the US and the dollar</a></blockquote>


I don't know if many of you realize that Europe and Asia is suffering from all the money they lent to us and we cannot pay back from our extravagant L.A. style spending. Asia and Europe is not going to sit pretty when U.S.'s currency is rising while their own currencies are suffering while we are the main cause to this global recession. Deflation and the rise of the dollar is temporary in my view, and I have no idea how long it is going to last. Our country is going to experience hyper-inflation and the dollar will lose it purchasing power very fast. Look at where the herd is flocking to right now. The world is running to the dollar for safety. From my experience, if the herd is all running to one direction, I tell myself to run the other direction.



My gut tells me that something really bad is going to happen to the U.S. dollar, just like the .com bust and the real estate bust. I just don't know exactly when that will happen.</blockquote>
Sounds like that something that is telling you that is HOPE. I think I've mentioned that the US dollar is the standard in the world of currencies. Why would other nations that export to the US want to have stronger currencies because that would crush their export business (see what's going on with Japanese countries lately)? There's a reason why the Chinese won't be a seller of US Treasuries and that's because they want to keep the ball rolling on their exports to the US (the US will and can consume way more of their goods than Europe or other parts of Asian can). Looks like you are on the wrong side of the trade Panda.</blockquote>


Troj - Did you read what the Chinese are saying? Are they lying? You know their mind better than they do?</blockquote>
Who the hell really knows, but the reality is that if their exporting slows down to the US their growth rate of 10%+ will be gone. Nobody else consumes Chinese exports like us Americans. We need them (to keep buying our debt) as much as they need us (buying their exports).
 
Your relying on the credibility of an unknown "shock jock" spouting conspiracy theories?



I suppose his advice is as good as anyone else's these days.
 
Panda,



I'm not so sure of the validity of that Amero youtube video by Hal Turner.



<a href="http://www.amerocurrency.com/buyameros.html">http://www.amerocurrency.com/buyameros.html</a>

<a href="http://en.wikipedia.org/wiki/Hal_Turner">Hal Turner - Wikipedia</a>
 
[quote author="CalGal" date=1224997838]<blockquote>Troj - Did you read what the Chinese are saying? Are they lying? You know their mind better than they do? </blockquote>
Chinese never lie.

Chicken in chinese food is really chicken, right. :lol:</blockquote>


Yeah... <a href="http://online.wsj.com/article/SB122447844849849567.html">and Chinese consumer spending is still rising nearly 20%, even though the stats say otherwise</a>.



<em>Chinese consumer spending has held up well in official figures: Official data on retail sales show them growing 17.9% in September in real terms, up from a 13% to 14% pace earlier this year. But that apparent acceleration is hard to square with outright declines in car sales, down two months in a row after years of double-digit growth, and airline travel, which has decreased every month since May. Sales of major home-furnishing and appliance retailers also are off. <strong>Economists suspect actual spending is weaker than the headline figures indicate.</strong></em>



What?! The communist Chinese government would never lie about the numbers to hide the shameful fact that they are doing as well as they hoped.



And China ain't as big and as bad as some think...



http://s.wsj.net/public/resources/images/AI-AR638_SAVIOR_NS_20081020152017.gif



Any country that pegs their currency to the dollar, needs to keep their mouth shut, or let their currency float and trade on the open market.
 
<a href="http://online.wsj.com/article/SB122489105149968665.html">http://online.wsj.com/article/SB122489105149968665.html</a>

<a href="http://online.wsj.com/article/SB122489333798168777.html">http://online.wsj.com/article/SB122489333798168777.html</a>
 
[quote author="PANDA" date=1225000622][quote author="blackvault_cm" date=1224999598][quote author="PANDA" date=1224999060]A Question to all of you since CalGal loves Panda's questions. Which Asian race have you experienced to be the most dishonest people doing business with in Irvine?



1) Indians

2) Koreans

3) Chinese

4) Japanese

5) Taiwanese

6) Vietnamese

7) Irvinese <- all other Asians living in Irvine not mentioned above.</blockquote>


All but Indian. Indians really aren't asian. They are white people with darker features who happen to like IT.</blockquote>


Huh? Blackvault, I am not talking about the American Indians from the Cherokee Tribe where the Pilgrims came and stole their land, I am talking about your lovable brown Dunkin Donuts Indians.</blockquote>


You had it right the first time. You know, where you went on explaining how you tried to do business with 10 indians. But you edited your comment since then. Do you always erase what you post? just curious as I have seen it numerous times.



Also, last time I checked Cherokee Tribe indians don't really care for IT and they don't have the same facial characteristics as white people. Perhaps that red bleeding from your gold investments is having an effect on you.
 
[quote author="usctrojanman29" date=1225011581][quote author="awgee" date=1224996587][quote author="usctrojanman29" date=1224991855][quote author="PANDA" date=1224990582][quote author="awgee" date=1224982372]I keep reading comments that the Chinese will never sell their US treasury notes because the chinese need the US to buy their products, and the US dollar will stay strong because the US is the strongest economically and the US will lead the world economically.



<a href="http://www.reuters.com/article/email/idUSTRE49N1XX20081024">Chinese view on the US and the dollar</a></blockquote>


I don't know if many of you realize that Europe and Asia is suffering from all the money they lent to us and we cannot pay back from our extravagant L.A. style spending. Asia and Europe is not going to sit pretty when U.S.'s currency is rising while their own currencies are suffering while we are the main cause to this global recession. Deflation and the rise of the dollar is temporary in my view, and I have no idea how long it is going to last. Our country is going to experience hyper-inflation and the dollar will lose it purchasing power very fast. Look at where the herd is flocking to right now. The world is running to the dollar for safety. From my experience, if the herd is all running to one direction, I tell myself to run the other direction.



My gut tells me that something really bad is going to happen to the U.S. dollar, just like the .com bust and the real estate bust. I just don't know exactly when that will happen.</blockquote>
Sounds like that something that is telling you that is HOPE. I think I've mentioned that the US dollar is the standard in the world of currencies. Why would other nations that export to the US want to have stronger currencies because that would crush their export business (see what's going on with Japanese countries lately)? There's a reason why the Chinese won't be a seller of US Treasuries and that's because they want to keep the ball rolling on their exports to the US (the US will and can consume way more of their goods than Europe or other parts of Asian can). Looks like you are on the wrong side of the trade Panda.</blockquote>


Troj - Did you read what the Chinese are saying? Are they lying? You know their mind better than they do?</blockquote>
Who the hell really knows, but the reality is that if their exporting slows down to the US their growth rate of 10%+ will be gone. Nobody else consumes Chinese exports like us Americans. We need them (to keep buying our debt) as much as they need us (buying their exports).</blockquote>


Yes, if their exporting slows down, their economy will slow down. And it already has. I do not have the stats in front of me, but Chinese exports have slowed down radically. Haven't you heard about the incredible slow down at the port? Chinese GDP just came in at 9%. I think it may be prudent to consider what the Chinese may do and what they say they will do as they become less dependent on the USA. We do need them to buy our debt, and if they don't? The next time I run across the numbers, I will post showing the decrease in US treasuries that China is buying.



Here is an article which gives further explanation to recent dollar strength and why it could continue to get stronger relative to other currencies.



<a href="http://www.nakedcapitalism.com/2008/10/currency-crisis-is-gathering-storm.html">Currency crisis a gathering storm</a>
 
<blockquote>You had it right the first time. You know, where you went on explaining how you tried to do business with 10 indians. But you edited your comment since then. Do you always erase what you post? just curious as I have seen it numerous times. </blockquote>
Yes, Panda edits his posts.

We've learned to copy his quote when you post a response to a Panda comment.

Panda can only change his quotes in his posts - but he can't change his quotes in your post.
 
<em>?I think we're ending the financial crisis now,? he said. ?There will be countries, like the U.S., that will go into recession. But this need not be a global recession. And there are some encouraging signs on that front.?</em>



<a href="http://www.theglobeandmail.com/servlet/story/RTGAM.20081024.wdecloet1025/BNStory/SpecialEvents2/">Would you bet against him?</a>
 
[quote author="awgee" date=1225065558]<em>?I think we're ending the financial crisis now,? he said. ?There will be countries, like the U.S., that will go into recession. But this need not be a global recession. And there are some encouraging signs on that front.?</em>



<a href="http://www.theglobeandmail.com/servlet/story/RTGAM.20081024.wdecloet1025/BNStory/SpecialEvents2/">Would you bet against him?</a></blockquote>


Yeah, I would. He missed a <a href="http://www.morningstar.ca/globalhome/industry/managermonitor.asp?reportid=139">huge opportunity after the dot com bust</a>. His funds are <a href="http://morningstar.scotiabank.com/globalhome/industry/managermonitor.asp?reportid=446">just now starting to see a positive return</a>.

<em>

The $24.6-million CI Global Opportunities returned 47.9% for the three months ended Aug. 31, compared with a 2.2% loss for the median fund in the Alternative Strategies category. However, the fund lost 3% in 2006 and returned only 0.9% in 2005.



The $78.8-million CI Trident Global Opportunities, which is more flexible in its exposure to credit markets, returned 43.5% for the past three months. It gained 0.1% in 2006 and 5.7% in 2005.</em>



The smartest man? Not so much. More like temporary genius. Tip of the day: Google is your friend. Don't be afraid to ask your friend questions, your friend usually has the answers.
 
[quote author="Trooper" date=1225071860]I've got to ask awgee. Why are you selling that Maple Leaf if you are so bullish on gold ?</blockquote>


Sssshhh! He needs Panda to start overbidding on the next one he sells to him. Don't give Panda any more hints! I gotta support awgee in this one, and help him keep the bids coming from Panda.
 
I'd also like to add that if you call up any bullion dealer (Monex, NWT mint) they are out of everything (except industrial usage 1000 ounce silver). I've been watching the Ebay market on Gold and Silver Maple leafs, and they are flying off the shelves. Even the "Buy it Now" auctions that are 30-50% above spot are selling.
 
[quote author="graphrix" date=1225072468][quote author="awgee" date=1225065558]<em>?I think we're ending the financial crisis now,? he said. ?There will be countries, like the U.S., that will go into recession. But this need not be a global recession. And there are some encouraging signs on that front.?</em>



<a href="http://www.theglobeandmail.com/servlet/story/RTGAM.20081024.wdecloet1025/BNStory/SpecialEvents2/">Would you bet against him?</a></blockquote>


Yeah, I would. He missed a <a href="http://www.morningstar.ca/globalhome/industry/managermonitor.asp?reportid=139">huge opportunity after the dot com bust</a>. His funds are <a href="http://morningstar.scotiabank.com/globalhome/industry/managermonitor.asp?reportid=446">just now starting to see a positive return</a>.

<em>

The $24.6-million CI Global Opportunities returned 47.9% for the three months ended Aug. 31, compared with a 2.2% loss for the median fund in the Alternative Strategies category. However, the fund lost 3% in 2006 and returned only 0.9% in 2005.



The $78.8-million CI Trident Global Opportunities, which is more flexible in its exposure to credit markets, returned 43.5% for the past three months. It gained 0.1% in 2006 and 5.7% in 2005.</em>



The smartest man? Not so much. More like temporary genius. Tip of the day: Google is your friend. Don't be afraid to ask your friend questions, your friend usually has the answers.</blockquote>


So, you are saying that you have better overall returns?
 
[quote author="Trooper" date=1225071860]I've got to ask awgee. Why are you selling that Maple Leaf if you are so bullish on gold ?</blockquote>






Awgee, as we have discussed in the past, I believe that deflation lies in our future, and that gold prices will reflect the deflationary pressures building from billions of dollars of bad loans being vaporized. But that having been said, I believe that gold is oversold at the moment. (Ultimately I expect it to become much cheaper, but I believe we are headed for a short counter trend rally right now)



But regardless of differences in belief of the macro direction of our economy, I thought I would share some thoughts that might help you with your arbitrage.



If I am not mistaken, during normal periods the premium for an ounce of gold is somewhere around 4% about spot. As your auction today shows, you are able to get a 15% premium over the spot price. I believe this is due to panic in the marketplace that has manifested itself in the shortages you mentioned earlier.



While buying large quantities of gold wholesale to sell in small quantities on Ebay is one way to play the current situation, I believe that going with paper gold ( either the GLD ETF or DGP ) offer you a more efficient way of playing arbitrage. Simply sell some of your physical holdings and replace that with paper gold that sells for the spot price. When things settle down and the premium for physical gold returns to normal levels, you can sell your paper gold and buy more physical gold.
 
[quote author="morekaos" date=1225105923]If gold spikes again I will be there ready to sell it again.</blockquote>


So will I.
 
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