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 Replies: 5,649 / Views: 460,916 |
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Valued Member
United States
380 Posts |
And the RAMPANT money printing continues, pumping the markets and stamping the interest. This will not last.
Hows the church of yup going?
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Bedrock of the Community
13014 Posts |
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Pillar of the Community
United States
808 Posts |
Yeah, the "Great Reckoning" hasn't materialized in spite of all the abuses. Apparently we actually can print all the money we need, monetize all of the bad debt we want to forget about, and look to a glorious future fueled by rampant federal spending. When there are seemingly no consequences for irresponsible fiscal and monetary behavior, there's precious little incentive for those holding power to change their ways.
Maybe when our debt is so great that we have to use scientific notation to describe the number something will change. Personally, I'm not holding my breath.
Like I said before, we have to play the economic game we're dealt, not the "rational" economy we wish we had.
Edited by coinwatch
07/25/2013 12:42 am
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Bedrock of the Community
13014 Posts |
Quote:
Apparently we actually can print all the money we need, monetize all of the bad debt we want to forget about, and look to a glorious future fueled by rampant federal spending. When there are seemingly no consequences for irresponsible fiscal and monetary behavior, there's precious little incentive for those holding power to change their ways. Thats the real problem, they know they can get away with it for quiet a long time so they have no reason to put their job on the line to stop it. Itll be a few generations from now that would feel potential consequences so its easy to kick the can and say not my problem. Only voters could put an end to that making it a priority and voters have time and time again proven that more promises of things win elections. |
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Valued Member
Canada
281 Posts |
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Thats the real problem, they know they can get away with it for quiet a long time so they have no reason to put their job on the line to stop it "All that is required for evil to flourish in the world is for good men to do nothing." Edmund Burke (1729 - 1797) |
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Bedrock of the Community
13014 Posts |
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"All that is required for evil to flourish in the world is for good men to do nothing."
Edmund Burke (1729 - 1797) Exactly. The concern isn't for us its for the future, I personally dont like the idea of selling out future generations like that, but unfortunately cant do anything to stop it. Like coin mentioned if you cant change it all you can do is adapt to it |
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Pillar of the Community
United States
3670 Posts |
Interesting as that point above reminds me of scene in Cloud Atlas, where one of the main characters of that story was put in position to make a huge difference via the eventual end of slavery with his education and way with the pen as a writer. Where he had to make an un-popular choice and side with a black stow-away on a ship who saves his life. So in turn his human nature had him make a choice which could have cost him his life to side with the black stow-away and in turn help him show the others what a fine sailor he was and could help out and earn his keep on board this ship sailing for the new world called America....
This movie takes place in SIX different lifetimes and one can not appreciate the deep complexity of film until you watch all three hours lol and watch the end credits so as to put the faces together of each actor or actress and whom they played in each life, reincarnation style perhaps....
Back to my point, in the life above in first paragraph toward end of film (no chronological order as when are movies ever in anymore after Pulp fiction lol) the guy who stuck his neck out for black man as he arrives back home in England he tells the opposition figure of this life via his fiances father (agent smith from Matrix love that guy lol) that he did not want to take his side on slavery and he and his daughter were gonna move to America and join the cause to free the slaves....
Mr. Smith's character tells him his efforts basically will not amount to more then one drop in a limitless ocean (as to say things are the way they are via nature, the strong will always control the weak etc.) and he replies....
What is the ocean but a multitude of drops....
Kind of like saying why vote, my one vote means nothing, my thought or opinion is worthless so why share it, then they the big brothers of the world win....
And in the end the main theme of movie is EVERY action you do in this life, will reap the foundation for your next, via the good which out weighs the bad, or vise versa and I truly believe that myself....
Edited by Silverhawk74
07/25/2013 02:51 am
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Pillar of the Community
 United States
3789 Posts |
The thing is the market are going to do what they want too. They aren't going to do what you or I think or wish they should do.
One must go along with the markets to avoid financial problems and to profit and to avoid having money do nothing. Right now, putting tons of money into silver and gold is not a wise thing because a- these aren't the prices to be buying and b- you don't want to put a substantial amount of money into gold and silver and then watch it churn and do nothing for an extended period of time.
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Pillar of the Community
United States
593 Posts |
I just need silver to stay down a bit longer. I only have ONE pre-1965 Mint Set to buy. Prices are friendlier right now!
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Pillar of the Community
United States
3670 Posts |
Yeah silver is still the bargain buy, but I grabbed another 1-10 gold rooster tonite and about a half oz of comm gold last week via the 1986 Liberty at near quarter oz. and the 1987 constitution right at spot on both....
Those and gold pesos in my mind are the BEST GOLD COIN bargains on market, again MCM's prices are hard to beat.....
Edited by Silverhawk74
07/25/2013 11:45 pm
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Pillar of the Community
Canada
746 Posts |
Finally broke down & got some Somalian elephants. Too beautiful to pass up & limited availability. Only $5 premium. Keeping pandas on hold for lower prices...premium still way too high ($9-$10)...
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Valued Member
United States
140 Posts |
I talked to my Local Coin shop today when I purchased two more ASE's. He has a HUGE Gold and Silver shop. He is 57 years old with no retirement, and he keeps buying and dealing with gold and silver. He said look I have a few sleepless nights as well but it is what it is. He told me that a guy bought in 9 rolls of ASE's 2 days ago when silver was in low nineteen's. I could not believe people are saleing I told him, and that guy said he is scared he is going to loss everything so he sold at that price before it went down, at least in his eyes to less than $10.00 an ounce. What does one do... Well this guy is going to continue to put a few ounces of silver away. |
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Pillar of the Community
United States
3789 Posts |
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Pillar of the Community
United States
3789 Posts |
ok lets dig into the past couple of days.
Most interesting thing I see thus far is how gold has managed to stay in the gap. More interesting is seeing how silver cant stay in the gap, notice how weak and lagging it acts. Almost seems like this one would be the first one to start it up its move lower.
So looking at Friday-
SLV- lower high, lower low, turned away from gap
GLD- higher high, lower low- still in the gap
now we look at today- 7/29
SLV- lower high, higher low still below gap
GLD- lower high, higher low
So we essentially have at this point
1- gold still in the gap but chopping around going no where
2- silver be turned back from the gap and as gold, chopping around for now.
What I am looking to see is seeing gold finally close the gap its working on and holding. Same with silver. I think based on price, if they fail at these gaps, then they trader in a lower range until the chop is resolved.
In any case, even with those gaps filled from 6/20, both are still in a downtrend. They need a lot of time to repair the damage done in price. I also remain skeptical because we have seen this same price action before. I would rather see both attempt another run at their lows, bounce and be bought up day after day with strong accumulation with good volume and then chop around before slowly grinding higher. THAT would give me a good hunch we are getting somewhere stable. Instead, we are seeing more more of a low, then chop up, down, up etc.
So keep an eye on how the gap is dealt with for now. BTW this week we have FOMC minutes so lets see if we get any sort of push in either direction, remember the REACTION is key and can give us clues.
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Pillar of the Community
United States
3789 Posts |
One word sums up how I view the gold and silver markets. BORING. Absolutely nothing is happening. chop chop chop chop.
SO I am not going to waste my time on this thread anymore!
HA! I am only kidding! Actually, from chop and a narrow range is where we get big explosive moves. Over time and within a trend, things tend to show their hand. Furthermore, when exactly everyone has gotten tired of an asset class is sometimes when something major finally happens.
So lets look at what happened today-
GLD- lower high, lower low- still in the gap
SLV- lower high, lower low, continues to drift away from the gap.
No doubt about it, silver is weaker and would be the first one to start up its leg lower if the selling pressure is brought. Gold remains in the gap. Question is: does it get filled and closed? Or will it follow silver and move away from the gap it is now? These are all questions that time will resolve.
There has been a lot of talk about how funds and traders are leaning in one way or another. Sure, we could see a short covering rally, I think we already have. Poking around I think sentiment has swayed back to one of "the worst is over." To me, I think that is the wrong view, as price is always truth and price is telling us gold and silver remain locked in a downtrend. As one trader I know puts it, "who has the burden of proof?". Well, gold and silver have that burden of proof, they have to prove that they are ready to snap out of their respective downtrends.
Now tomorrow we get FOMC minutes. Look to see what the reaction is that perhaps helps break this range we are in. I have no clue what happens and I will be looking to see how the info from the FOMC is digested by the markets.
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Posted 07/25/2013 12:34 am
