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Sold all my Gold


Eco

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Just now, Cointreau said:

I feel you've made a really bad mistake Eco. The big bull run in PM's has barely started. I would never sell right now.

Cash is trash. Dammit!

Are you currently still accumulating more PM's?

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On 24/07/2020 at 10:54, Eco said:

Something like Gold is no good to anyone, its value is on the way up to this bubble when debt and fake value is being created and "currency" supply seems endless.

Even if you think it'sjust  a bubble.....why not milk it ?

Soon Gold will be the only game in town.

Just look at what Gold does when the stock market crashes.

You're all out.....I'm all in.

Opportunity of a life time imho.

 

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Just now, PolloDiablo said:

Even if you think it'sjust  a bubble.....why not milk it ?

Soon Gold will be the only game in town.

Just look at what Gold does when the stock market crashes.

You're all out.....I'm all in.

Opportunity of a life time imho.

 

You are missing point, both stocks and Gold are in a bubble. Both are approaching end of bubble.

The problem with trying to play it, is most people get burned once it pops.

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1 minute ago, Eco said:

You are missing point, both stocks and Gold are in a bubble. Both are approaching end of bubble.

The problem with trying to play it, is most people get burned once it pops.

Life's a bubble !

The failure rate of FIAT currencies is 100%

Where else could you put your devaluing currency?  What else do you plan to do with your devaluing currency?

We are on the verge of....

Sovereign debt crisis

Banking crisis

mass unemployment

recession ,

stagflation followed by inflation and possible hyper-inflation

another tulip mania like nasdaq (and we know what happened last time)

A second wave

We are also seeing hedge funds buying into PM  ETFs

Robin hood traders noticing the space

And you just sold your Gold ???

Study the history of Gold and you'll see that your timing might be a bit off.

But if you sold it to buy a farm - Respect.

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13 minutes ago, Eco said:

The problem with trying to play it, is most people get burned once it pops.

Then take profits.

Get your original stake out as quickly as possible.

To do that.....buy Silver....it will triple at least.

Get your original stake out, then your free rolling.

But Silver won;t be for the faint hearted.

 

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23 minutes ago, Eco said:

You are missing point, both stocks and Gold are in a bubble. Both are approaching end of bubble.

Gold and silver are just getting going they're nowhere near the highs they're going to reach

 

Help thread for members new to silver/gold stacking/collecting

The Money Printing Myth the Fed can't and don't money print - Deflation ahead, not inflation 

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Guys just remember, this is the last rush.

The higher this goes up the more it will fall and the more violent the fall will be. 

Wonger is right although Im not sure on 380. Maybe more like 500.

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1 minute ago, Eco said:

Guys just remember, this is the last rush.

The higher this goes up the more it will fall and the more violent the fall will be. 

Wonger is right although Im not sure on 380. Maybe more like 500.

What do you think could cause a sell off that big ?

The Fed raising interest rates to 5% maybe ?

A golden comet crashing into the earth ?

Where would all these safe haven investors suddenly put their money ?

A 20% retrace in the next month very possible.  Possibly by Friday or Monday

 

 

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This train has just begun pulling out from the station. Pay no attention to the noise. There will be big pullbacks in Silver, I would love a retest of the breakout from $19.50 . I will back up the semi truck, car, and bike if it does, I am very doubtful at this point though. If it did, it would be in the next month or two. 

 

I"m not a PM bull at all. Markets move in waves. I own all asset classes and always try to rotate into the sector in which is gearing up for a bull market. Right now, that is clearly PM's. This may be much larger than 2010/11 ever was. A potential monster. I will no doubt sell at my targets on the way up though. the world will not end. PM's will come back down to Earth. And we'll sit and wait for the next bull run.  If there are no real pullbacks, thats ok. if there is, I will take advantage.

 

Good luck to all!

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3 hours ago, Eco said:

Wonger is right although Im not sure on 380. Maybe more like 500.

I had my doubts as to whether this was actually Wonger or not, but I'm struggling to believe anyone but Wonger would ever utter this particular statement on this forum. 😄

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I think everyone is predicting a pull back atm in PMs, would make a beautiful entry point for a leveraged buy and to bulk up my silver etf 

I'd love a 8% pullback in gold and 20% in silver but maybe that's asking too much

While we're waiting for the pullback cryptos are just heating up 

Help thread for members new to silver/gold stacking/collecting

The Money Printing Myth the Fed can't and don't money print - Deflation ahead, not inflation 

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Inflation is on its way up, just watch and see. Money in savings accounts are devaluing fast! A recent study showed savings of £10k in a uk bank account in 2018 lost over £1000 of its value in just one year... The rate your pound/dollar/euro  is being devalued is getting faster. I honestly don’t buy the philosophy that cash will be king, I think you’ll watch your savings crumble. It’s exactly the reason why the rich of this world are pouring their money into precious metals. 

Give me something ‘physical’ over the magic beans that is cash any day!

Many thanks, Elliot

Check out my ebay store, buy direct and get at least 10% discount. https://www.ebay.co.uk/str/investincoins888

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5 minutes ago, InvestInCoins888 said:

Inflation is on its way up, just watch and see. Money in savings accounts are devaluing fast! A recent study showed savings of £10k in a uk bank account in 2018 lost over £1000 of its value in just one year... The rate your pound/dollar/euro  is being devalued is getting faster. I honestly don’t buy the philosophy that cash will be king, I think you’ll watch your savings crumble. It’s exactly the reason why the rich of this world are pouring their money into precious metals. 

Give me something ‘physical’ over the magic beans that is cash any day!

Citation please. Will be interesting to see what methods used to show one can lose 10% value with inflation ~2% the past two years. 

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27 minutes ago, Martlet said:

Citation please. Will be interesting to see what methods used to show one can lose 10% value with inflation ~2% the past two years. 

Typical I can’t find the precise article, I’ve not given up however...

We have been living through the worst few years for savers in decades. The complications from the Covid shutdown are only just beginning to be felt and with Brexit on the horizon in the UK we are going to see household staples rise sharply in price. With record low interest rates, I wouldn’t keep a penny in a bank account right now. Give me physical assets any day! Precious metals and bricks and mortar, long term you can’t loose.

 

https://www.google.co.uk/amp/s/www.telegraph.co.uk/investing/funds/grim-reality-lost-decade-much-savers-have-paid-financial-crash/amp/

 

https://www.google.co.uk/amp/s/www.thisismoney.co.uk/money/saving/article-6620673/amp/How-savers-suffered-decade-rate-misery.html

 

 

Many thanks, Elliot

Check out my ebay store, buy direct and get at least 10% discount. https://www.ebay.co.uk/str/investincoins888

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Quote

At the same time, inflation — the rise in the cost of living — has run above the Government’s 2 per cent target figure for seven out of the ten years and even hit 5.2 per cent at one point.

 

1 hour ago, InvestInCoins888 said:

A recent study showed savings of £10k in a uk bank account in 2018 lost over £1000 of its value in just one year...

not the same thing ?

 

Quote

If you leave £10,000 in an account at 0.15 per cent, its value will drop to £9,080 over the next five years, assuming the current inflation rate of 2.1 per cent. 

 

HH

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On 23/07/2020 at 23:26, Eco said:

Any feedback and thoughts greatly appreciated. And please someone give me some confirmation in my decision 🤣. It still hurts to think about.

Sorry, I think I don't get you. Why would you want feedback now when you already sold all your gold. I don't think it is feedback you want but reassurances. One question... why did you not advertised your gold in TSF? 🤣🤣🤣🤣🤣🤣

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12 hours ago, Eco said:

Guys just remember, this is the last rush.

The higher this goes up the more it will fall and the more violent the fall will be. 

Wonger is right although Im not sure on 380. Maybe more like 500.

Even though I gave you props and guts to sell just before double top. I find it disingenous for you to now harp about seeing $500 gold. 

I'm not sure if you made a mistake or not, it could still be a great move, but trying to get others to follow by throwing a ridiculous low ball number is just messed up.  

 

 

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1 hour ago, Cointreau said:

Yes, I am. Waiting for dips now. I missed the one early this morning.

me too must get up earlier😀

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On 24/07/2020 at 00:26, Eco said:

Hi all,

I've been recommended to create this thread some time ago from my "friends" over on Reddit.

With "friends" like this who needs enemies.

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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Ignoring the  obvious trolling of the OP, anyone thinking of doing this at this moment in time would be very foolish in my opinion.

" I'm a gold bug and fiat money is a passing fad in the history of money" 

These are the words of Deutsch Bank's top credit strategist.

Max and Stacey explain it better than I can ......

 

 

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On 24/07/2020 at 21:39, Witcher said:


They don't know God, which is why they don't know truth.  People believe they own land, cars, themselves... nope... they own none of that.  The "State" does. 

 

OMG not another gold crash topic , anyways my opinion is the same as the rest of the forum apart from OP and wonger 😆

in my opinion from now on gold is not going to look back at all, it will continue to go up, how high it can go I am not sure but It won't go down .

Gold has passed the test of time, when there was no stock, no bitcoin and no technology etc , gold was out there doing the same thing as it is doing today so to doubt gold especially at times like this is foolish I would say , I don't know maybe I'm too bullish on gold but my price prediction is £2000 oz by Christmas and £3000 by next Christmas .

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