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Probably either in the next two months (like Jim Rickards expects it) or not after the election.
 
If it's not at the June meeting I don't think it happens unless an "emergency". Honestly, I am wondering what the hell they are waiting for.
 
I think we'll see some crazy shit this week 'fellas.

The Greece situation is in full melt down mode, the Swiss Franc is under attack and our own skeletons are rattling in the old closet over here as well. The fallout from the JPM revelation has shocked a lot of people "who actually matter" and I believe it is only the tip of the derivative iceberg.
 
"Oh, no, my unbacked europaper fantasy was a farce the whole time! Unbacked ameripaper fantasy here I come!"

 
Well.. The price action of gold has me baffled.

The fact we havent been able to rally makes me think we might have a bounce and then a second correction into august september..
 
dereksatkinson said:
Well.. The price action of gold has me baffled.

The fact we havent been able to rally makes me think we might have a bounce and then a second correction into august september..
Click to expand...

USD goes up, gold goes down, vice versa. Expect gold to continue to go down until the Euro situation settles down or until we have our own financial situation exposed (maybe JPM iceberg?).

If USD keeps rising, Fed will have to QE3 to make USD go down as per the currency war. QE3 should bring gold at $2000+.

My layman's take of things.
 
I think people have stopped playing the MF Global casino paper games with PMs and are buying physical now.
 
PMBug said:
I think people have stopped playing the MF Global casino paper games with PMs and are buying physical now.
Click to expand...

I have heard that sentiment expressed by others. Is there any evidence you have to support this? That would be valuable.
 
dereksatkinson said:
Well.. The price action of gold has me baffled.

The fact we havent been able to rally makes me think we might have a bounce and then a second correction into august september..
Click to expand...
I couldn't say I 'like' that comment.
But I do agree with it!

Note to Mods: Perhaps change 'like' to 'agree'. There are a lot of things stated on boards such as this that are the truth. Folks may agree with them, but don't always like it.
 
Jetstream said:
I have heard that sentiment expressed by others. Is there any evidence you have to support this? That would be valuable.
Click to expand...

Anecdotal, but likely indicative of what's happening on the retail level: http://www.pmbug.com/forum/f13/physical-gold-silver-inventory-watch-352/index7.html#post8218

Reports of major buyers bypassing the paper markets and striking deals directly with producers: http://www.pmbug.com/forum/f2/mark-cutifani-major-buyers-finding-’s-hard-get-physical-gold-281/

China using stealth mode to acquire physical cheaply without disturbing prices: http://www.pmbug.com/forum/f2/china-still-buying-gold-508/#post6602

Discussion of the ramifications on "stealth mode" buying: http://www.pmbug.com/forum/f2/central-banks-buying-gold-114/index4.html#post7743

Jetstream said:
I couldn't say I 'like' that comment.
But I do agree with it!

Note to Mods: Perhaps change 'like' to 'agree'. There are a lot of things stated on boards such as this that are the truth. Folks may agree with them, but don't always like it.
Click to expand...

"Liking" something doesn't cost anything. It's just a means to show appreciation for a post - whether it gives you warm fuzzies inside or you agree with a grim sentiment.
 
Shelby-villian said:
If USD keeps rising, Fed will have to QE3 to make USD go down as per the currency war. QE3 should bring gold at $2000+.

My layman's take of things.
Click to expand...
VERY good and 100% valid point, Shelby! indeed, just a matter of time before the Fed must intervene, to cheapen the dollar, to prop up the exports, and prevent economy from deflation. good catch!


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