Guest Posted January 29, 2004 Report Share Posted January 29, 2004 Looks like Jack Nicholson last year, but with a tan http://www.schnittshow.com/main.html Link to comment Share on other sites More sharing options...
Sphinxter Posted January 29, 2004 Report Share Posted January 29, 2004 Great thoughts yobob and sphinxter! debt gona sink the ship only thing I can't get behind 100% is POG in a deflation enviroment.I mean like gold drops to 250.00 wont that 250.00 buy alot more than it will now with POG 410? then there is the other thought when bonds and paper burn POG will shine??? Yeah, I've worried about gold in a deflationary environment ever since reading "Conquer the Crash" by Prechter. But here's what I've come to believe. In a full blown deflationary crisis where gold goes to $250, cash would be a far better investment. But how wouuld you hold cash? In a bank? You mean like in Argentina where people were forbidden from accessing their cash because it would have wiped out the banks? Even if you have your cash stuffed in an A rated bank, there is no guarantee that you will have access to it. If you have your cash in a lesser bank, or merely one that is unfortunate, remember that FDIC is private insurance, albeit regulated, and has enough assets to cover approximately 5% of all assets and is, by law, required to pay out up to $100k per account at a minimum of 5% per year. So if you have your cash in a bank that goes under there is some chance that over the next 20 years you may eventually get it all back. Of course, FDIC could simply go under too. The other alternative is to hold big piles of cash around the house but that seems a tad risky. You could hold it in a safe deposit box unless you are a client of Washington Mutual which has a new policy forbidding the holding of cash and precious metals in their boxes. A Patriot act sponsored rule that is being emulated by other banks across the nation. So, in summary, I think having direct access to $250 gold in a deflationary explosion will be a magnificent investment. Link to comment Share on other sites More sharing options...
Butterfield 8 Posted January 29, 2004 Report Share Posted January 29, 2004 Cash in Swiss francs might not be a bad idea. For Swiss banks to close their doors, the government would have to default. Link to comment Share on other sites More sharing options...
Butterfield 8 Posted January 29, 2004 Report Share Posted January 29, 2004 My idea of an all-purpose hedge is Canadian silver maples. If silver goes up, they go up. If silver goes down, they are still worth five Canadian dollars and you can buy milk with them. Link to comment Share on other sites More sharing options...
brian4 Posted January 29, 2004 Report Share Posted January 29, 2004 Good morning crew! There are still a few who don't know where we are- had 2 e-mails from stoolies wanting directions-so pass it on where we are. Link to comment Share on other sites More sharing options...
soup Posted January 29, 2004 Report Share Posted January 29, 2004 I was lucky enough to cover some stuff near the lows yd. Do you guys think 1133 which was strong support will now become resistance? Link to comment Share on other sites More sharing options...
brian4 Posted January 29, 2004 Report Share Posted January 29, 2004 first turn in 2 minutes second (a big one) top of the hour. when rates rise good shorts are the banksters. Link to comment Share on other sites More sharing options...
brian4 Posted January 29, 2004 Report Share Posted January 29, 2004 yep Soup 1133 should be a ceiling might get over it for awhile my stops are 1137. This is a blip too early to tell anything yet the turn on the hour will tell us a lot. Link to comment Share on other sites More sharing options...
Sphinxter Posted January 29, 2004 Report Share Posted January 29, 2004 Gold decline stopped hard at 50 dma. Silver clubbing was jut a pile-on by da boyz. Why did they do it? Because they could. Silver has no ties to the actual supply demand dynamics of gold but they treat it just the same nonetheless. Fark em. Fark em all. Link to comment Share on other sites More sharing options...
Sphinxter Posted January 29, 2004 Report Share Posted January 29, 2004 Superr de dooperr rescue in the bond pits this morning. I wonder how many of my tax dolors that cost? Take a close look at the axis, that's quite a plunge there. Link to comment Share on other sites More sharing options...
brian4 Posted January 29, 2004 Report Share Posted January 29, 2004 Butters you are right about the maples and you are buying them at a discount with your $-great deal. Link to comment Share on other sites More sharing options...
Bearman Posted January 29, 2004 Report Share Posted January 29, 2004 Heaven help any bulls if some event happens truth be told events have been on going the mk is on Alert Link to comment Share on other sites More sharing options...
brian4 Posted January 29, 2004 Report Share Posted January 29, 2004 those dip buyers got barbecued when they hit the electric fence-ouch! Link to comment Share on other sites More sharing options...
brian4 Posted January 29, 2004 Report Share Posted January 29, 2004 the electric fence of course being 1133 Link to comment Share on other sites More sharing options...
Bearman Posted January 29, 2004 Report Share Posted January 29, 2004 as liquidity goes all ships sink Open-Outcry Traded Markets GC G04 4120 4120 4035 4063 -83 SI H04 6550 6565 6260 6370 -260 Link to comment Share on other sites More sharing options...
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