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The coming Gold crash


Wonger
Message added by ChrisSilver

⚠️Please remain respectful to other members even if opinions differ. The truth is that no one knows what the future price of Gold will be and no one can predict with any certainty what it will be. People can make assumptions and guesses based on what they think will happen but at the end of the day anything can happen.

The future price of gold will either be the same, higher, or lower. So please debate respectfully of fellow members even if they have a different opinion or opposing views to the majority of members. 

No member will ever be banned for having a different opinion to another member but members who are rude and disrespectful do risk their account status. Please be polite and respectful of all members, we wish to maintain a pleasant place on TSF ⚠️

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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! 😉

Edited by Wonger
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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! 😁

Edited by Wonger
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2 hours ago, Wonger said:

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!

Quod erat demonstrandum!

I have never really expected to get an ounce of gold from you, however I have expected you to make up a lousy excuse to avoid the bet.

2 hours ago, Wonger said:

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? 😁

There was an act in 1913 that enabled the FED. That's why I said it was - enabled by the government and thus has state elements (apart from other state elements that I didn't even mention). The FED still relies on the government's enablement today. The FED is NOT and never was a purely private entity. It's a classical corporatist entity, held by private individuals, enabled and empowered by the state - because the private individuals lobbied at the state to get - state guaranteed privileges and thus has STATE ELEMENTS.

Anyway, that doesn't really matter in the context of our non-bet. You have shown you don't put your money where you mouth is. That's all I really wanted you to do. I'm sure you will have an answer to this too. I don't care and I might not respond, because as funny as it was, it's getting tiresome,  @Eco ah sorry, I mean @Wonger .

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2 hours ago, Wonger said:

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! 😁

OK stop obsessing about closing out your position. I agree, it's different to hedging. It's irrelevant anyway; a closed position can easily be re-opened.

You still haven't addressed my primary point about once you start hedging you are effectively locking in your loss. Simply trying to muddy the water and trying to bamboozle me with option traders' jargon doesn't wash.

Profile picture with thanks to Carl Vernon

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1 hour ago, Eco said:

 

 

1 hour ago, Eco said:

I would encourage all to sell at least 60 percent of their pm, if they are not willing to go all out.

I assume you would lead the way and sell your stack? After all, you wouldnt want people to think that you are looking for a low cost top up would you.

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On 24/07/2020 at 04:06, 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.

Apologize I didn't respond. I wouldn't quote the recent oil crash, but it's very similar. We are not looking a physical storage crisis cause no one in their right minds would store a barrel of oil at home and the value of oil vs space occupied is not realistic. But you got to look at the fact that if there is a crash and the markets get repriced down heavy (the monthly trendline), you would see the SP could potentially go down to the 400pt level. Who knows where gold and silver will be. All I can say is, the last time silver hit $50, could you ever think we would see $12 again?  Yet that's where we were just a few months ago.

Can I see that gold could hit $400, anything is possible to be honest. I love gold, I'm in my full physical position so I'd rather see it go to $10k USD. 

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2 hours ago, Eco said:

There is a lot of mocking going on in this thread.

All would do well to listen to Wonger as he has insight here that a lot are missing. 

I would encourage all to sell at least 60 percent of their pm, if they are not willing to go all out.

You joined a gold and silver bug forum on Friday to tell us you sold your gold and we should do the same. Then you attempt to glorify Mr Wong with his deflation theory sending silver to $4 and gold to whatever it was.
Get out of here - we are hardcore - 

Edited by sixgun

Always cast your vote - Spoil your ballot slip. Put 'Spoilt Ballot - I do not consent.' These votes are counted. If you do not do this you are consenting to the tyranny. None of them are fit for purpose. 
A tyranny relies on propaganda and force. Once the propaganda fails all that's left is force.

COVID-19 is a cover story for the collapsing economy. Green Energy isn't Green and it isn't Renewable.

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11 minutes ago, r1lee said:

Apologize I didn't respond. I wouldn't quote the recent oil crash, but it's very similar. We are not looking a physical storage crisis cause no one in their right minds would store a barrel of oil at home and the value of oil vs space occupied is not realistic. But you got to look at the fact that if there is a crash and the markets get repriced down heavy (the monthly trendline), you would see the SP could potentially go down to the 400pt level. Who knows where gold and silver will be. All I can say is, the last time silver hit $50, could you ever think we would see $12 again?  Yet that's where we were just a few months ago.

Can I see that gold could hit $400, anything is possible to be honest. I love gold, I'm in my full physical position so I'd rather see it go to $10k USD. 

Do you know what happens when price go down hard - the boys back up the truck and pile it in and so will the Chinese, Japanese and dirty knees. 

Always cast your vote - Spoil your ballot slip. Put 'Spoilt Ballot - I do not consent.' These votes are counted. If you do not do this you are consenting to the tyranny. None of them are fit for purpose. 
A tyranny relies on propaganda and force. Once the propaganda fails all that's left is force.

COVID-19 is a cover story for the collapsing economy. Green Energy isn't Green and it isn't Renewable.

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41 minutes ago, r1lee said:

Apologize I didn't respond. I wouldn't quote the recent oil crash, but it's very similar. We are not looking a physical storage crisis cause no one in their right minds would store a barrel of oil at home and the value of oil vs space occupied is not realistic. But you got to look at the fact that if there is a crash and the markets get repriced down heavy (the monthly trendline), you would see the SP could potentially go down to the 400pt level. Who knows where gold and silver will be. All I can say is, the last time silver hit $50, could you ever think we would see $12 again?  Yet that's where we were just a few months ago.

Can I see that gold could hit $400, anything is possible to be honest. I love gold, I'm in my full physical position so I'd rather see it go to $10k USD. 

Unfortunately  oil has never been historically money. Oil will decline and the petrodollar won't exist. Why do you think majority of oil providers for energy are looking at greener alternatives. There many corporations that are looking for something different. Silver and gold will exist but the former will be eaten up by industry and will be a. Harder to mine and b. Become rarer. Yes they will go up and down but because they are finite, they still last the test of time. And historically that's been proven.

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2 hours ago, HerefordBullyun said:

Unfortunately  oil has never been historically money. Oil will decline and the petrodollar won't exist. Why do you think majority of oil providers for energy are looking at greener alternatives. There many corporations that are looking for something different. Silver and gold will exist but the former will be eaten up by industry and will be a. Harder to mine and b. Become rarer. Yes they will go up and down but because they are finite, they still last the test of time. And historically that's been proven.

I never said oil was money. All I basically said was that it can happen to any class of assets. I would have graciously accepted physical oil at $-40 if it was the size and weight of an ounce of metal. Because it isn't, it is limited in its ability to used as a store of wealth.  Hence one of the reason there was a storage issue.  If you were able to physical store oil at $-40 you would be making a killing now at $40. I'm not trying to argue the fact that I'm for gold at $400. Im just saying there's always a possibility that it happens. Just like there's a possibility that yellow stone blows within the next year or something along those lines. I will admit I think there is a better chance that gold could see $400 before yellow stone blows.

Gold and silver have both been manipulated so much, this can go on forever and I won't be surprised that this time will not be different. Cause it's always different this time.

I love my metals and I will never part with it, until I see a replacement currency in place of the current USD.    

Edited by r1lee
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7 hours ago, HerefordBullyun said:

Unfortunately  oil has never been historically money. Oil will decline and the petrodollar won't exist. Why do you think majority of oil providers for energy are looking at greener alternatives. There many corporations that are looking for something different. Silver and gold will exist but the former will be eaten up by industry and will be a. Harder to mine and b. Become rarer. Yes they will go up and down but because they are finite, they still last the test of time. And historically that's been proven.

That's actually another topic but the big oil corporations back the so-called renewable energies because they increase the need for conventional energies! Less oil rather but more coal, gas etc. Why? Because there are times without wind and sun there is the need for an additional buffer! More "renewable" energy = more conventinal energy on top of that!

(There is of course also the theory that oil is everywhere if you dig deep enough and is created geologically all the time, not just millions of years ago andthe Russians would have the methods to dig deep enough and hold it back because they sell so much oil and gas. I don't know if that is true but if it is, oil will eventually become much cheaper and every country can get its own oil.)

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2 hours ago, Abyss said:

Can we rename this thread @ChrisSilver it needs to be called The coming Gold Boom. We have broken intraday the all time high price of Gold.

It already reminds me of last summer when gold just didn't stop climbing and when I continued to wish it would go back again so I could buy cheaper. So do I now but it seems it's futile.

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