Fed Funds Rate Cut to Lowest Level Ever
The Federal Reserve has cut its target for a key interest rate to the lowest level on record and pledged to use “all available tools” to combat a severe financial crisis and prolonged recession. The central bank says it reduced the federal funds rate, the interest that banks charge each other, to a range of…
Knocking on Schiff, which is comical, means you called the stock market bottom and started buying there. Otherwise, Schiff’s gold call has way, way out outperformed your paper assets, this year and seven preceding years.
hannible the false wealth is the dollar, at least the home has intrinsic value, I would not pay the crazy amounts we are paying now but in 10 years with the printing press at full gear and with the world also printing we will get inflation and I will want to own things with intrinsic value.
And someone thinks this is going o stop the value of homes is going to stop going down. Wait until we hear about Americans firms and banks that lost money in his Ponzi Scheme, then you will see million dollar homes selling for pennies. Don;t you see we have been living in a false state of wealth. Homeowners face reality,
I am back, had to do some shopping for the baby. I am now ready to buy that brooklyn heights townhouse with 1000 ounces of gold. If the economy turns up I am sure gold will go up as well. Since it hit the lows of 700’s it has kept bouncing off of that level. My charts say it has broken the lower highs and lower lows pattern. I will take my charts over any others in the industry. Matter of fact I know plenty of the bloomberg guys who do the programming at bloomberg and one has actually helped me with my charts… I have nailed almost every move in this market. Though I will be the first to say that all the technical patterns that helped me call this baby to a T have gone away. I am now investing blindly like most. But I have done great and am willing to take some losses but not alot of them. Therefor I am only in the market for the short term and in small amounts.
it’s easy as pie to buy gold coin and bullion, but you need cash sweetie, they will not let you put in on plastic.
Peter Schiff and friends we got here…
He got it right – what went down.
He got it wrong – what went up (including gold).
The gold market is significantly manipulated. From what I understand, the spot price of gold is inconsistent with what gold’s actually worth. And I use the classic notion of “worth” as whatever someone will pay for it.
When the spot price was in the $700’s, licensed dealers and jewelers were asking much higher.
And there’s been a general silver bullion shortage, yet the price has gone down substantially these last 10-or so mos. Last I checked, prices rise as supplies drop.
If y’all really wanna get good financial news – REAL information, not MSM-filtered nonsense, go to
http://www.marketoracle.co.uk.
Hands-down best economic site I know. And it’s a compendium, so it’s not just the opinions of one “expert.”
My Bloomberg charts aren’t wrong…IT IS A CHART OF LOWER HIGHS AND LOWER LOWS SINCE THE PEAK AT MARCH 18, 2008.
AS far as your assumption that GLD is purchasing the actual gold…you may not want to assume….
http://seekingalpha.com/article/110609-the-problem-with-gld-and-slv-etfs
Dave that is wrong, the chart is no longer lower lows and lower highs. We just broke out of that chart. Actually we kept hitting the 700 mark and bouncing up. I would say that gld the etf is the actual thing promoting gold. The more people purchase the etf the more the actual gold has to be bought. Sure we don’t know if they are keeping pace but we have to assume they are. Like I have written I use gld as a trading mechanism. Wait until they get a leveraged gold etf, gold will skyrocket and then fall like oil has. All these etf’s have actually made these things very crazy. The movements are much faster than I have ever seen..