Qe3 Launched

Kinda figured that minor pullback last two days was nothing more then FLUFF, right before the big push to 1800 and 35 per oz., skies the limits now. The can of imminent failure has now been cracked open as we all knew it would....

I don't understand how higher food and oil prices are good for the economy.

As a dealer I think I am out of the Bullion biz for awhile. Sellers have been drying up for the last year, and with this last run up, prior to qe3, you would think that sellers would again be coming in.

This time last year I was buying from an average of 15 people a day. Now, I'm lucky to get 10 people a week. And those are mostly small time nickel and dime sellers with a handfull of jewelry.

My "stackers" aren't buying right now, either. The common comment I get is "why buy high?". They expect a collapse. But with an open ended qe..I just see rampent price increases that have no basis in traditional supply and demand.

I haven't sold any gold in a month.

My traditional coin collectors are all complaining because Morgans and Peace dollars have almost doubled in price for common dates.

I don't see an upside, unless you are a speculator.

"I haven't sold any gold in a month."

I believe that totally, people are getting smarter the noobs just into PMz, realizing these peaks can't last and lower windows will soon present themselves....

With QE-3 now, this changes the entire fundamental rules of the game however....

I think the PM price increase is a direct result of this Bizarre QE3 Decision.
Pm's are simply reflecting the devaluation of the US dollar by this action.
You will see price increases in EVERYTHING food,fuel,services etc.
Once again the "Fed" is propping up the "Fat" end of town by robbing everyone else ( a devalued dollar buys less )
I can remember not that long ago when an Aussie dollar could only buy 80 odd cents now They can get nearly 106 cents
That is quite a fair chunk of change in depreciation.
The fed is patching up a leaky boat with a rotten hull
Time to get a NEW BOAT
In the meantime all the smart people that have stacked away physical Pm's have found a safer way of preserving their wealth.
It will certainly be interesting to see what happens with the Pm prices, I am certain that the powers that be are not too happy with people maintaining wealth that they cannot access.
I can see some weird things happening with the pm charts this year

Thanks, Thunder, and I agree with your comment on that as well. Deception was what allowed the Fed to come into existence in the 1st place. Without that, they never would have gotten The US Central Bank through the Congress.

I never thought that the Congress or the President had the authority to create the Fed, myself. Perhaps this is an issue that should be reexamined by the USSC?

When you think about it, The Federal Reserve System is not any more "federal" than Federal Express is and they do not have ANY reserves. They DO have a printing press and a computer that can create tons of fiat notes, though.

Some may have heard a Fed announcement; I heard the starting pistol for the next leg up in the gold and silver bull market.