Gold Crash

Discussion in 'Trading' started by bearice, Feb 2, 2011.

Gold price will crash?

  1. Yes

    1 vote(s)
    9.1%
  2. No

    10 vote(s)
    90.9%
  1. Ordinary people in India have 20,000 Tons of gold and India desperately needs many trillions dollars investment. Rich countries are one of the biggest investors in India but now rich countries do not have money. In fact rich countries will withdraw their present investments in India and other countries. Maybe India will sell gold to save their industries and infrastructure. Just my thought.

    India needs $1 trillion of investment in infrastructure including roads and ports between 2012 and 2017.

    http://gulfnews.com/business/market...-spending-will-push-sensex-to-40-000-1.714262
     
  2. 300,000 Tons of Gold and other treasures

    This gold find in the 1940's would have crushed the value of monetary gold around the world, per Weir. Because the US Government was the largest holder of monetary gold, it would have significantly devalued the US monetary reserves if made public . Too, its revelation would allow claims from certain Asian countries that the gold belonged to them. This would upset the balance of power and wealth in the region.

    Weir said that the treasure involved more than 300,000 tons of gold and other treasures. He did not state what part of the find was gold. But he did note that the total of all mined gold in the world was believed to be 140,000 tons. Thus, the Japanese gold find in the Philippines must have been at best only some part of the 140,000 tons.

    Therefore, per Weir, the US decided to keep the treasure find a secret. Every US President since Truman has known about the treasure and the organizations that grew up around it. Weir dogmatically asserts that the institutions that were involved with it are vast and powerful--including JP Morgan, Citigroup, AIG, the World Bank, Morgan Stanley and so forth. Accordingly, Washington power players from the early days of Bill Donovan and Edward Casey to recent times have used this treasure find to advance their own agendas through an organization known as “The Enterprise.”

    Weir wrote that after WWII a vast gold hoard of Japanese gold (most of which was stolen from other Asian countries) was found hidden in over 175 different sites in the Philippine Islands by a member of General Charles Willoughby's staff. Willoughby was General MacA rthur's Chief of Intelligence.

    This treasure, per Weir, has been known by many names including Yamashita's Treasure, The Golden Lily Treasure, The Black Eagle Fund and many others off shoots. This revelation became known to the public from the 2003 release of the book “Gold Warriors: America's Secret Recovery of Yamashita's Gold,” written by Sterling and Peggy Seagraves.

    http://www.marketoracle.co.uk/Article8813.html
     
  3. Ron Paul: "The USA Government Must Admit It Is Bankrupt".

    Ron Paul is a congressman in USA.

    Mr Kotlikoff says the debt is actually $200 Trillion.

    Mr Moylan (director of government affairs for the National Taxpayers Union) says the number is likely about $60 Trillion.

    "The Government is lying about the amount of debt. It is engaging in Enron accounting," said Laurence Kotlikoff, an economist at Boston University and co-author of The Coming Generational Storm: What You Need to Know about America's Economic Future.

    Unfortunately, the UK, France, Portugal, Ireland, Spain, Greece and Italy are in much the same predicament. Greece and Portugal will goes first and we will probably see a domino effect.

    But if the USA goes, everyone goes. We're talking about a total collapse of the economic system worldwide. USA is bankrupt.

    THE actual figure of the US' national debt is much higher than the official sum of $US13.4 trillion ($14.3 trillion) given by the Congressional Budget Office, according to analysts cited on Sunday by the New York Post.

    http://www.elitetrader.com/vb/showthread.php?s=&threadid=213208

    http://www.blacklistednews.com/?news_id=10626

    http://www.zerohedge.com/article/ron-paul-us-government-must-admit-it-bankrupt
     
  4. Ordinary people of India will not sell gold for industries/infrastructure support. I have lived in India for many years and know the mentality. Two things are very important for Indians, owning a home and owning gold, mostly in the form of Jewelry. Every block in there will have a Grocery store, a miller, a baker, a Pharmacy (they call them Chemist their) and a Jeweler, these are musts!! It’s very hard to believe their love for gold, take a visit and you'll understand.
     
  5. You did not give the "I dunno" option. [​IMG]
     
  6. Shagi

    Shagi

    Its just a minor correction of the long term trend and was a shorting opportunity of the intermediate trend, thats all. Buy Gold now and watch it scream to $1500 in the next 8 weeks. Why sell at these low prices? makes no sense.
     
  7. There is a true story about the survivors of a plane crash where some passengers survived and some died. The plane had crashed in isolated and extreme cold mountains and there was no food for miles. The surviving passengers started eating their dead passengers and they survived for 1 month and later rescued.

    Forget love for gold. Nobody can eat gold. Desperation is one of the biggest dangers.
     
  8. Nothing of that sort can fight thousand years of social and cultural behavior. 80% of Indians don't invest or may be know stocks or stock markets. In fact it’s an opportunity for banks/FI's to make people aware on other investment tools and its workings. The small city person (which is 90% of India) believes in land, gold/silver and fixed deposits with their local post office. This all will change but I don't foresee it happening soon. I'm not here to contradict you friend, again I'll say live in India for at least 3 months and come back and comment. I'm a Canadian-Indian and know what I write here.
     
  9. #10     Feb 2, 2011