Au/Gold keeps dropping

[KFC911]

Sent you a PM Jim....

[Joeaksa]

Originally Posted by red-beard

Getting to be time to buy...

Now may be a good time to buy. If our idiot President gets re-elected, then that will be the "its too late" time to buy as it very well may be needed after that...

[john70t]

Goldman's new money machine: warehouses | Reuters
Goldman Sachs is stockpiling aluminum in Detroit warehouses using their taxpayer supplied funds. This will drive up the cost of domestic manufacturing, and may lead to a commodities balloon based on hype.

Info for those "in the know". Step cautiously.

[red-beard]

Originally Posted by john70t

Goldman's new money machine: warehouses | Reuters
Goldman Sachs is stockpiling aluminum in Detroit warehouses using their taxpayer supplied funds. This will drive up the cost of domestic manufacturing, and may lead to a commodities balloon based on hype.

Info for those "in the know". Step cautiously.

Except the article is wrong. Aluminum is at a low. It is close to the December low of last year. I sell special metal products, including extruded aluminum.

[jyl]

Well, thank goodness one party in Congress is blocking regulation of investment banking and commodities trading and cutting the CFTC (Community Futures Trading Commission) so that it can't act. As MF Global and JP Morgan have proved, and Goldman proves everyday, our esteemed Masters Of The Universe don't need any regulation. And if you agree, they'll donate unlimited sums to your campaign, since that is now allowed.

[tfmcmahon]

If physical gold is going down in value,the chinese have it all wrong as do the Russians and Iranians and they are all very good chess players. The Hoarding Continues: China Purchases A Record 100 Tons Of Gold In April From Hong Kong | ZeroHedge

[tabs]

Originally Posted by jyl

Well, thank goodness one party in Congress is blocking regulation of investment banking and commodities trading and cutting the CFTC (Community Futures Trading Commission) so that it can't act. As MF Global and JP Morgan have proved, and Goldman proves everyday, our esteemed Masters Of The Universe don't need any regulation. And if you agree, they'll donate unlimited sums to your campaign, since that is now allowed.

With the recent revelations about the problems the Investment Banking houses have been experiencing I now support a return of Glass Steagle and a scrapping of Dodd Frank. The REGS have been on the books but it takes someone to enforce them. Usually it is not a problem of not enough regs but a lapse of that enforcement.

[Eric 88 Carrera]

But what is government itself, but the greatest of all reflections on human nature? If men were angels, no government would be necessary. If angels were to govern men, neither external nor internal controls on government would be necessary. In framing a government which is to be administered by men over men, the great difficulty lies in this: you must first enable the government to control the governed; and in the next place oblige it to control itself. -- James Madison in Federalist 51

Regulations and law do not guarantee good behavior either by citizens or government. Rather self-control, morality and ethical behavior are necessary. Our "friends" on the Left believe in the perfectibility of Government and forget that it is made up of people who have all of the same problems of the citizens that they seek to rule. Quis custodiet ipsos custodes? - Who will watch the watchmen?

[tabs]

Originally Posted by Eric 88 Carrera

Quis custodiet ipsos custodes? - Who will watch the watchmen?

The Secret Police

[john70t]

Originally Posted by red-beard

Except the article is wrong. Aluminum is at a low. It is close to the December low of last year. I sell special metal products, including extruded aluminum.

I was wondering about this. Sounds fishy.

On one hand:
-Insider trading and spreading public rumor-milling are illegal.
-But of course, a youthful exuberant reporter might be exempt from this.
-A few Detroit warehouses with scrap would not effect the worlds supply in the short term, but it could affect stock prices temporarily....

On another hand:
-The earth's bauxite reserves is supposed to be in limited supply.
-Eventually Al prices may go up depending on industry use.
-This could be manipulated by corrupt geologists and media reports....

[red-beard]

We are officially below the December 2011 low. They may "think" the price will turn around back to last summer, which is about 30% higher than today, buying low to sell high...I'm not sure how many metric tons they are storing, but it would have to be an awful lot to affect the price. My next shipment will be about 150-200 tons.

[imcarthur]

And Au is trending cautiously higher & holding at ~$1625. Everybody is holding their breath for the Greek results.

Ian

[red-beard]

I will predict: The Greeks will not do what is needed. The rest of the EU will try "one last time", fail and throw them out of the EU.

[imcarthur]

I fear you are right. That is the 'smart money' bet, unfortunately. Meanwhile the Swiss & German banks etc are filling with haven cash from Greece & Spain.

Ian

[daepp]

How glad are the Brits and the Swiss for keeping their currency???

[red-beard]

Swiss never joined the EU.

[daepp]

thats my point!

[on2wheels52]

What is the explanation for the weakness of the CHF to the $?
I was 'lucky' enough to spend a few days in Switzerland last September near the peak of $1.25/1.
Jim

[imcarthur]

Good question. Google knows all.

"(Reuters) - Switzerland's central bank says it is determined to prevent the country's currency climbing too high against the euro, but there are doubts in the options market its resolve will hold during the latest chapter of the euro zone debt crisis. Risk reversals show investors are building up bets in the options market for a break of the floor of 1.20 francs per euro the Swiss National Bank set last year to shield the economy from the flood of safe-haven flows due to Europe's crisis.

The SNB has intervened regularly to hold down the value of its currency. The bank's Chairman Thomas Jordan told a news conference on Thursday it was ready to buy foreign currency in "unlimited quantities" and "take further measures at any time." Reuters

Currency exchange is baffling to all but the experts. And they get it wrong as well.

Ian

[red-beard]

Originally Posted by on2wheels52

What is the explanation for the weakness of the CHF to the $?
I was 'lucky' enough to spend a few days in Switzerland last September near the peak of $1.25/1.
Jim

In 2000, it was 1.4 SF to $1USD, last year is was 0.8 SF to $1USD. Now 0.952