If we are talking of the same guy (I'm sure we are.
) I musta missed that bit. He seemed dyed-in-the-wool Keynesian. If he were still with us I'm sure he would defend Henry's Super Tax.
Gold-now $US1210/ounce
- Thread starter Ajax
- Start date
) I musta missed that bit. He seemed dyed-in-the-wool Keynesian. If he were still with us I'm sure he would defend Henry's Super Tax.An hour ago I looked at the Kitco gold site and literally EVERYTHING (including the UA$) was down bar the J yen.
I'm happy too because I've got a qtr mil in the Loony which is up >5%. Diversification at work.
not doing to bad sitting on a pile of useless metal too
my cost average
$1050 an oz aussie
$11 an oz aussie
my cost average
$1050 an oz aussie
$11 an oz aussie
known all this for a long time .
no the gs perfect trading was their flash trading . average stock hold 11secs (ive posted about this ) the advise to clients is not following the flash trading . that was their top picks for the year . totally different .
ive made my thoughts well know lets wait and see.
ps. you realise i can short my stack too in corrections . hard to short a ip
Been buying for a while. Ag was A$7/oz when I started.
Bought a boxed set of four of these:
for $500. Sadly did not include Journey Begins but it is a beautiful coin and going for $1,000 on it's own.
very nice coins .something i may look at now i have the core holding i want
i have very few coins apart from pre 46 aussie ones and some round 50s .plus some i swaped with a guy for usa coins .
i tend to buy industrial silver bars and just poured gold bars (low premium)for long term holding but have a good mix of smaller sizes
I have mostly $200 coins from the 80's. I picked most of the up for face value from the banks. They were glad to get rid of them. Collectors had been holding them for years and when the gold price dropped to $140 per coin, they could only redeem them for face value.
Scored about 10 of them from a guy who ran a storage unit that had been unpaid. He was also happy to take $200 each.
I thought it was just a good free bet on the gold price. $200's are now selling for around $420 on ebay.
looks like they may try to get it below 1150 to make alot of options expire worthless . tuesday is expiry date i think i'll check is for silver
(posted this in another thread, but probably belongs here)
I've bought a bit of gold (as a hedge against equities), but was hoping to buy more. Waiting till next Friday after the options close. So far not a bad call as far as the gold price goes, but the $A slide is making it more expensive.
I've bought a bit of gold (as a hedge against equities), but was hoping to buy more. Waiting till next Friday after the options close. So far not a bad call as far as the gold price goes, but the $A slide is making it more expensive.
If we are talking of the same guy (I'm sure we are.
Definitely a Keynesian. I meant he was against Austrians like Mises.
Print and print again was ok by him. Apparently the taxpayer has forever to pay off debt......would love to get his angle on the PIIGS.
As we were often reminded, the RBA has some of the smartest people in the galaxy working there.......makes you wonder why they didn't see GFC coming.....inverted yield curve, ever widening ted spread, and libor rate were warning something's up.
And now, many think the next rate move may be down, including John Edwards. The RBA is turning out to be as reliable as BIS Shrapnel in its projections.
Another guy I respect is Mohamed El-Erian, CEO of PIMCO. He said this yesterday.
“This is not a typical retracement,” said Mohamed A. El- Erian, chief executive officer of Pacific Investment Management Co., which runs the world’s biggest bond fund, in an e-mail. “We are in uncharted waters on account of several issues, including what is going on in Europe and other important structural regime changes. In economic terms, European developments are unambiguously bad for global growth.”
“This is not a typical retracement,” said Mohamed A. El- Erian, chief executive officer of Pacific Investment Management Co., which runs the world’s biggest bond fund, in an e-mail. “We are in uncharted waters on account of several issues, including what is going on in Europe and other important structural regime changes. In economic terms, European developments are unambiguously bad for global growth.”
I hope not too many here used the Rubber Ball Theory of Stock Selection. Someone spoke of buying BHP after the initial fall, I assume on the basis that "good" stocks always rebound. (It wasn't IV as I remember but he did argue that it's intrinsic value hadn't changed) I hope sanity prevailed and they used a stop-loss.
I am wondering if anyone acted on their convictions re the supertax being bad, and shorted aussie miners and aud when it was announced.
Union bosses, Swan, Rudd, Twiggy, Clive?
Hmmmmm.........which currency has been the better store of wealth in the last 5 years?
Any American holding Aussie stocks would know which one it isn't.
Any American holding Aussie stocks would know which one it isn't.
Incidentally, I had been hanging out for a new bicycle, made from magnesium.
But couldn't wait and bought a Trek carbon.....paid for by palladium and platinum shorts
But couldn't wait and bought a Trek carbon.....paid for by palladium and platinum shorts
In case anyone is wondering what an inverted yield curve looks like, Australian yields started to invert on 7/5/10 when the 30 and 90 day bank bills crossed above 2 year bond yields. (where the dark blue plot crossed below the red and pink).
This indicates short term risk is considered higher than medium term, and short term capital is starting to freeze.
If the 2,5,10 yr bond yields cross, then this is serious folks.
This indicates short term risk is considered higher than medium term, and short term capital is starting to freeze.
If the 2,5,10 yr bond yields cross, then this is serious folks.
The look on Kevs face on the news tonight was priceless. You can just tell he has no idea what's going on.
See ya's.
