Wonger

28 minutes ago, SilverPirate007 said:

I like you Wonger at least you stick to your guns! Right or wrong I respect that.

That is because when the Tsunami of debt defaults leads to Currency supply destruction Gold will be taken down along with everything else, no matter how many Gold Vendor Youtube videos you watch encouraging the purchase of Gold due to QE Inflation none will ever mention possible Deflation via Debt Default, they are leading the sheep over a cliff and it is a long way down all the way to $385 and DXY 140 will help take it there so quick they will not even be prepared for the splat on hitting the ground! 😁

If anyone else wishes to engage in the bet with the poster, then go ahead, just sell Gold Puts until the end of 2021 down to $500 generating $1900 of premium income to hedge your risk, sit back and wait to collect 3 oz of physical Gold which many posters on here have stated will not be available to buy at $500! 😉

13 hours ago, sovereignsteve said:

You still haven't explained how starting to hedge your position at $2064 (a $200 plus loss on your short position incidently) is any different to closing part of your position.

Hedging at this stage is effectively locking in your loss. You won't lose any more when gold continues to rise but also you won't make your money back if it retraces to your starting position.

There is a huge difference between hedging a position with derivatives (options in this case) and closing out a position!, next up lets be having you! 😁

22 hours ago, silenceissilver said:

I have named the state-elements, not challanged the owernship.

More made up nonsense as the poster goes along trying to wriggle out of admitting they are wrong and they expect me to enter into a bet with them? 😁

On 25/07/2020 at 09:32, silenceissilver said:

The FED has never been fully private

I will not enter into any bet with anyone who refuses to deal with fact and reality, the Fed is private and to suggest otherwise is absolutely absurd!

2 hours ago, silenceissilver said:

"you think is easily defined, I am showing you its not and can never be so.

...

unless you define this clause there is no bet!"

The FED has never been fully private, it has been enabled by the state in the first place but now it has even been attached to the treasury by presidential order. All of this wouldn't even matter because I made it clear, it needs to be a revaluation by government act (or at least presidential order). Who carries out details of this swap old US Dollar against new US Dollar doesn't matter at all.

This being said, my assumption that you would avoid the bet by coming up with endless questions about the details of how a revaluation could be carried out - well, you have just confirmed it, see your quote that I have made bold.

The Federal Reserve stock is privately held, its fully privately owned and I will not communicate with you any further as you refuse to deal with facts! 

5 minutes ago, MancunianStacker said:

They can target 2% all day long but they could get it wrong. Imagine that. 

And Subprime is contained

10 minutes ago, KDave said:

Exactly correct. Deflation has been the biggest systemic risk since late last year, with the central banks not printing enough. But people do not want to hear it, all they see is inflation. Hyper inflation is the favourite scenario for some reason, and also the least likely. 

Dont say that, the PM dealers on here will be greatly upset! 🤣

I have a figure of $285t of global debt, if I thought the CB's would QE $285t I would close out Gold shorts Immediately

1 minute ago, Stacktastic said:

I don't think much is actually being physically printed now, it seems like they are making up the numbers out of thin air. 
A sign they want to go to digital credit perhaps?

The banks have already said they want a reset in Davos recently. Lets face it they hold all the cards, with everything thats going on. 

Very good post, shame there is not more like this instead of childish nonsense!

What if the UK Government stops furlough payments on Halloween? 😉 

3 minutes ago, Stacktastic said:

I concur. 

I think all PM will go up in the next few years, potentially to new highs as they are in a bull market & the currency printing is weakening its power. 

It will eventually reset I recon but at a higher rate. That not to say that it wont go down drastically, but thats usb usual corrections, especially with silver. 

I can see £1,200, maybe £1000 gold prices but I will reset to a higher rate or the rate its at at the moment after this recession/depression. 
I personally think Silver will easily hit £50 in the next 2 years & then also reset at about £20-23 / oz. Again thats not to say it wont dip back to £12 again on a correction. 

If it went to £600 that would be because of something that is non predictable & cant be shown on any chart or prophesied. 

What if Debt Defaults drastically dwarf the Currency printing resulting in a drastic reduction of Currency supply?  

Just now, KDave said:

I can see the logic in your position, and as you have mentioned collapsing stocks on here as well, frozen trading accounts, etc - it seems to me you are expecting a deflationary collapse. 

Are you watching the dollar as an indicator? If so I would say if DXY goes above 100 we will see your systemic collapse prediction come to pass. As the FED has taken the foot off the QE, this is looking more likely by the day. Perhaps you are right. Part of me hopes so, for all the pain it will cause it will be worth it long term.

USD target 140 as ive already posted more than once

1 minute ago, mr-dead said:

ill just take a leaf out your book and claim its just on its way to $10k

Until I ask you for a date, not the romantic kind!😁

6 minutes ago, mr-dead said:

Lets hope you continue posting that chart for updates until $385 by the end of 2021 

1 minute ago, sovereignsteve said:

Closing, hedging, effectively the same depending on how much of your currently losing position you hedge. Just another way of cutting your losses, but still losses just the same.

Then I suggest you research the difference, its always good to learn 😉 

Just now, Kman said:

Gold will never go down to $600

Because that will never happen is you prediction never ending? you can never be wrong

I like to predict what will happen in the short term and I'm usually wrong but that's fine because I don't bet on my predictions until they actually start to play out

You have to wait for confirmation

Why dont you explain to everyone why you think Gold will never go down to $600? How can my prediction be never ending when Ive stated by the end of 2021 on this thread on many occasions!😁

3 minutes ago, mr-dead said:

seems wonger is going all out as we approach $1900.

as I said previously, you would have made far more money doing the polar opposite of what he suggested to date so best ignore him.

"to date"

5 minutes ago, HillWalkerDundee said:

Zero, it will be all in my safe 🙂

Worth what an oz?

12 hours ago, Eco said:

Been reading through this thread for a few days and I am actually with Wonger. Seems I am in the minority, lol.

Thats exactly where you want to be with Commercial Banks to the tune of 302000 contracts net short too in your corner!  😉

1 minute ago, Abyss said:

Leverage is a Double-Edged Sword. Over leveraged any position it can cause permanent capital destruction.

Night follows day too 

35 minutes ago, BobnotTed said:

The Nasdaq 100 futures chart shows most sustained drop over last fortnight since March crash. US Stimulus ceases in 7 days. Beginning of anticipated second crash?

https://markets.businessinsider.com/futures/nasdaq-100-futures

If so, gold will quite possibly drop for a period.

😉

1 minute ago, sovereignsteve said:

So how high does it have to go before you admit you're wrong and take your losses?

The position will not be closed, it will be hedged, this will not even be considered under $2064

11 minutes ago, Abyss said:

@Wonger pal I have missed you. How have you been mate? I am hoping all the shorting you are doing in the futures market with leverage has not left in the following state:

You do realise Leverage means I can allocate far less capital to a position?