The coming Gold crash

[KRO]

On 22/07/2020 at 01:57, Wonger said:

Im on the Asian desk, were going to open the flood gates on the offer in 3 mins!

Got a feeling there maybe compulsory redundancies on the Asian desk in the near future😀

[sovereignsteve]

I just wish people would just have the balls to admit when they're wrong. After all, we're men and apparently we're wrong almost all the time😄

[dicker]

Been married 25 years and haven't been right once yet....

[Prophecy]

6 minutes ago, Witcher said:

You will need a miracle to learn/understand the market.  It's not natural.  Honestly, it is satanic.  It's opposite of a free market.  It's a perversion of God's economic laws... yes, they actually exist and even "believers" don't know it.  We can make prediction in a true free market, but we don't know what will happen in this mess.  We know what ought to happen.  This is why we hedge... stack up and prep even if you don't care to believe in God.  
I won't be thumping anyone with Bibles, but you have to ask yourself in private, why do you have a disturbance in your "gut" if you were simply a random process from muck instead of a created living being with purpose? 

The truth is... precious metal values don't really change all that much.  It's all the fiat currencies that are constantly changing.  All these governments only ruin our purchasing power because goods are measured in fiat currency.  We know that PMs restrict such wickedness and frivolous because they are intrinsic and sound.  

Let us ask the question.... if gold somehow shot up to $50,000 per ounce, would you really want to trade that gold for fiat then?  That should be a clear sign that you are on the Titanic. I would take the life boat not the broken toothpick. 

Username checks out.

[Minimalist]

On 22/07/2020 at 01:57, Wonger said:

Im on the Asian desk, were going to open the flood gates on the offer in 3 mins!

[mr-dead]

On 22/07/2020 at 01:57, Wonger said:

Im on the Asian desk, were going to open the flood gates on the offer in 3 mins!

 

[Wonger]

To answer a few quick questions, the bet is not what it seems to anyone not in the markets, because either party can simply hedge off the risk, I can simply sell put premium for the 1oz $1900 value and the other party can simply buy a $500 put for the 3oz $5700 value, this is obviously what I would do, Im not sure about the other party, its up to them, but i know what i would do, and your not paying me $500 are you, your paying me 1oz of Gold!

Im not long equities to hedge Short Gold futures, Ive been long equities via S&P 500 futures with a target that is very close, its so close 90% of the long position is now closed, were looking to Short equities right here, Gold and equities will soon collapse, sorry guys, but thats always been my view, were going into the abyss and as much as I like the shiny, its going to be taken down with everything else!  

Edited July 23, 2020 by Wonger

[Divmad]

You're not Henrik Zeberg in disguise, by any chance? Sound like his alter ego.

[Wonger]

If you thinking of betting on this crash I hope you have an exit plan before everything is frozen up as thats whats going to happen your brokerage account will be frozen!

[Wonger]

2 minutes ago, Divmad said:

You're not Henrik Zeberg in disguise, by any chance? Sound like his alter ego.

You have been warned!

[Divmad]

Too many gloom and doomsters out there yet for your scenario to work out. Twitter is full of them. And when I bait them about their wrong calls, I get blocked. Wonder why???

[BobnotTed]

59 minutes ago, Wonger said:

equities will soon collapse

Are you thinking end of next week when various US stimulus ends?

[Eco]

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

[Prophecy]

30 minutes 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.

You think it's going to settle back down to £400 huh

[silenceissilver]

4 hours ago, Wonger said:

To answer a few quick questions, the bet is not what it seems to anyone not in the markets, because either party can simply hedge off the risk, I can simply sell put premium for the 1oz $1900 value and the other party can simply buy a $500 put for the 3oz $5700 value, this is obviously what I would do, Im not sure about the other party, its up to them, but i know what i would do, and your not paying me $500 are you, your paying me 1oz of Gold!

Im not long equities to hedge Short Gold futures, Ive been long equities via S&P 500 futures with a target that is very close, its so close 90% of the long position is now closed, were looking to Short equities right here, Gold and equities will soon collapse, sorry guys, but thats always been my view, were going into the abyss and as much as I like the shiny, its going to be taken down with everything else!  

So we could both hedge our bets. And? Is this a reason not to enter the bet in first place? I won't hedge it because it would unnecessarily reduce my gain - one troy ounce of gold. As predicted you keep coming up with new reasons why you shouldn't enter the bet. I have also asked you to explain your quote below, I don't think you know what it means, yourself. It was a clarification question about my restriction (bet void in case of a revaluation of the Dollar). So please expand on this:

On 21/07/2020 at 23:57, Wonger said:

What if the Fed announces US Treasury yield curve targeting revaluing the USD via US Treasury purchases made through the US Treasury on the Feds behalf?

[r1lee]

7 hours ago, Wonger said:

m not long equities to hedge Short Gold futures, Ive been long equities via S&P 500 futures with a target that is very close, its so close 90% of the long position is now closed, were looking to Short equities right here, Gold and equities will soon collapse, sorry guys, but thats always been my view, were going into the abyss and as much as I like the shiny, its going to be taken down with everything else!  

Coming crash will take all asset classes down with it as people run to liquidity. But $400 gold, I can see it but SP would also be hovering around that level to. 

Edited July 24, 2020 by r1lee

[mr-dead]

4 hours ago, r1lee said:

Coming crash will take all asset classes down with it as people run to liquidity. But $400 gold, I can see it but SP would also be hovering around that level to. 

How much physical gold do you think will be available @ $400 when it costs around $1k to produce?

and before you quote the recent oil price crash as a comparison lets not forget that was due to a physical storage issue which gold does not have.

Edited July 24, 2020 by mr-dead

[TheApe]

Gold still crashing towards all time high. Could hit that today😆

[BobnotTed]

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.

[Wonger]

8 hours ago, silenceissilver said:

So we could both hedge our bets. And? Is this a reason not to enter the bet in first place? I won't hedge it because it would unnecessarily reduce my gain - one troy ounce of gold. As predicted you keep coming up with new reasons why you shouldn't enter the bet. I have also asked you to explain your quote below, I don't think you know what it means, yourself. It was a clarification question about my restriction (bet void in case of a revaluation of the Dollar). So please expand on this:

You are entitled to your own opinion, the fact is you offered me a straight forward bet either Gold LBMA am or pm fix drops below $500 or it does not. However you then tried adding a clause which you think is easily defined, I am showing you its not and can never be so. The following question of "What if the Fed announces US Treasury yield curve targeting revaluing the USD via US Treasury purchases made through the US Treasury on the Feds behalf?" is fully understood by myself I can assure you, its a revaluation of the USD orchestrated  by the FED (Non Government entity) but executed through the US Treasury (Government entity) You can post here all you want accusing me of avoiding the bet, the simple truth is you have tried to add a clause and it seems you do not understand the ramification, unless you define this clause there is no bet! 

[Wonger]

2 hours ago, mr-dead said:

How much physical gold do you think will be available @ $400 when it costs around $1k to produce?

and before you quote the recent oil price crash as a comparison lets not forget that was due to a physical storage issue which gold does not have.

Where were going Plenty because stackers will be puking it up left right and centre, some might even be saying "oh I wish I had taken notice of Wonger" as Ive just lost 75% of my wealth which I thought was as Good as Gold secure  

[Wonger]

20 hours ago, TheApe said:

Yep, I had copped that and how stupid the bet was but didnt want to say it as Wonger is obviously not too good at maths 🤣

Then you show your complete ignorance of the derivative market, the laugh is on you my friend! 

[Abyss]

@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:

[Wonger]

20 hours ago, Prophecy said:

I'm setting up a gofundme page for poor old Wonger. The dude must be so in the red.

Thank you, but Its not needed as the target is $385 not $3850 😁

[Wonger]

18 hours ago, KRO said:

Got a feeling there maybe compulsory redundancies on the Asian desk in the near future😀

That is quite funny actually as HSB* did not get the Memo it seemed and questions were asked