Visit our COVID-19 site for latest information regarding how we can support you. For up to date information about the pandemic visit www.sacoronavirus.co.za.

bs-regular
bs-extra-light
bs-light
bs-light
bs-cond-light-webfont
bs-medium
bs-bold
bs-black

Community


Share knowledge. Ask questions. Find answers.

Online Share Trading

Engage and learn about markets and trading online

Fort Knox -thats where the money is

Reply
Surf_Rat
Super Contributor
Today I had to bail out of all this as the US republicans have become socialsts and I thought as a socialist you have to inflict pain on the world to protect your people so at fort Knox they have 148 million ounces at $ 700 per ounce that is 103,600 million dollars maybe that is enough money and all I wanted was R 22 000 to cover my position thanks to MTN that was my net loss this week and I cannot even blame my TA 's or my brain SARS sorry man you just lost R2000
0 Kudos
18 REPLIES 18
Not applicable
Dude, you can't bail out of gold now - the western imperialists haven't made the underlying problems go away, so gold should still have a good medium-term future. Unless they change the rules of the game again just as we start winning...
0 Kudos
Not applicable
ask yourself this......has gold really adjusted to the half trillion dollars that have been added by central banks in the last 36 hours with much more to cum. In comparism the gold market is about 100 billion....do the math! adios.
0 Kudos
Surf_Rat
Super Contributor
Hey I am a Pharmacist with a UNISA post grade in economics and marketing so supply and demand I like straight lines take a pill get better , increase supply decrease demand ,on Tuesday I posted Gold going to 900 , euro 144 and oil 100 and 15 minutes later went from profit of 15 000 going up to minus because of a curve ball , conclusion those brains there can do anything just like they did to oil cannot trust them ,they behave like fort Knox ,they make the maffia look like children
0 Kudos
Not applicable
So then, if everyone wanted to collect on the Fed's $9,700,000,000,000 debt, they would have to split only 148,000,000 oz of gold - so they would only get 1 oz of gold for every $65,000 that they are owed.
0 Kudos
Not applicable
Maths is one thing - that's what we did earlier in the week to figure out how to profit. Clearly didn't do us any good. What we really needed was criminal psychology to figure out what the Fed, DEC and FSA would do.
0 Kudos
Surf_Rat
Super Contributor
reminds me of the time I surfed at cave rock and a 40 foot whale shark decided to visit with a dorsal fin the size of a house those shark bisciuts and myself were wondering who was going to be dinner total chaos ( when the johnnies are out mate I would rather keep my legs ) and try again when the offshore blows again do not like hurricaine season)
0 Kudos
Not applicable
I am not blowing my own trumpet....but the fed did exactely what I expected them to do. VERY few people realise how close we came on Wednesday to a complete seizure of the entire western financial system....and I knew that the boneheads would'nt let it go down with out a fight and hence I cut all shorts and went long on the closing auction yesterday. However they are all closed now and I have started accumulation of gld and ang call warrants which I will complete by Monday. I lost a fortune 2 weeks ago in ang as I was "tricked" out of my longs by witnessing a deflationary scenario taking hold ie. everything was going down. However gold's action during the crises this week has renewed my faith and I will be holding the position this time as I believe the system will implode within a month and gold will fly. Gold HAS TO ADJUST to counteract the gigantic liquidity injected today, it was only due to positive equity sentiment on the day that drove it down....niks to do with fundamentals. OMHO.adios...hic!
0 Kudos
Surf_Rat
Super Contributor
makes sense i will be in early if I see the outcome of the package we have plenty space 70 dollars to 90 dollars so we see down side only got 10 dollars keep the advice going mate you sound like you got the brain for this complexity cheers
0 Kudos
Not applicable
The problem is, the Fed and SEC are filled with former executives of the Wall Street pyramid schemes. Should the system collapse, there will be criminal proceedings against current and former executives that turned the companies into pyramid schemes, including those in the Fed and SEC. So even as gravity pulls the stock prices down, the criminals in authority will fight with everything they have to boost those stock prices to make the schemes seem solvent. Sure, it all has to break down in the end, but the battle might be long and protracted. The only quick solution that I see is if top politicians realise that the Fed and SEC are part of the problem, not the solution. But I don't think that Bush is capable of such independent thought.
0 Kudos
niemand
Contributor
Timato, How does one get into gold? Krugerrands, ETF's?
0 Kudos
doomsdayza
Super Contributor
Feel your pain on MTN yesterday... Got the t-shirt.
0 Kudos
G_V_V
Super Contributor
Sentiment is everything dude. They will step in as many times as they have too, the human spirit will do anything to survive the advances of those who do not want too.
0 Kudos
Not applicable
Personally, I'm long DRD via an SSF, and I've also bought a few Newgold call warrants (GLDSBA). Newgold is an ETF, while DRD is one of the more volatile of the gold miners. The other gold companies that you could consider are GFI, HAR and ANG. Most of the smaller gold players are pretty dodgy. Even the above-mentioned 4 are hardly what I would buy for a long-term portfolio; but when gold goes up, their shares do tend to go up.
0 Kudos
Surf_Rat
Super Contributor
Hey Timato In Ghana now Elmina castle ( dungeon of no return )so making up my losses in sappi and standard bank , but had another bite at gold its like a drug when I see the euro rate and oil above 100 so we pray otherwise i will stay in the dungeon .This is where slavery began they still fish here from bible boats and nets its amazing they carve the boat out of a tree log and the paddles so if I wipe out I know where to come and fish they do not even know who the fed is here only when the fish run then the chief gets the boats out cheers internet is like catching the sattelite in the right place before it disappears ( time for some garie, pounded jam and joffie rice )
0 Kudos
Not applicable
That's uncanny - do I know you? I've been to Elmina Castle myself, back in Dec '97. I was most astounded by the contradiction of standing in the chapel, with scripture carved on the wall, after being told of how the governor would pick a female slave for the night, etc. Good beaches, alnost deserted bar the fishermen. The old Accra harbour was very picturesque - my desktop background is a scan of a photo I took there at sunset. The markets were also quite an experience; very smelly with all the fish, but the way the ladies weave through the crowds with those huge baskets on their heads is amazing. The people were very friendly, especially in the small places like Obuasi. I thoroughly enjoyed my 3 weeks in Ghana - came back and told everyone I knew that it was the greatest holiday destination ever - no-one believed me.
0 Kudos
Not applicable
Hey SR, what are you doing that makes you travel to these places?
0 Kudos
Plonky
Super Contributor
Hey Timato... when you were in Ghana did you try the local delicacy of Fufu and GrassCutter. ? Hopefully you managed to come home with some Kenti cloth as well. A great place to stay is Busua Beach south of Tarkwa.
0 Kudos
Not applicable
No, I was there to work, an odd job with my father's business straight after studying, hence a limited budget. I stayed in our client's company houses and ate mainly the food they provided, which didn't get much more exotic than plantains. But any time that I wasn't working, I donned my running shoes and walked, caught taxis or even hitched rides as circumstances dictated, mainly in Obuasi and Accra, and also a little in Kumasi and Abesim (Sunyani). The one day we got one of the company's local drivers to take us to the coast, which is when we saw Cape Coast Castle and St. George's Castle at Elmina. I've just checked my travelogue. It was actually Cape Coast Castle that made the biggest impression on me. Anyway, thanks for the memories :-) Back to the original topic of the thread, in the ancient Kingdom of Ghana (centred around Kumasi) gold was cheaper than salt. The King, when he travelled across the Sahara to Arabia for an international gathering, used a solid gold ingot as a staging post for his horse.
0 Kudos