Commerzbank predictions for gold (just for a laugh)

[dicker]

Hi All,

I think very few if any people know where the price of gold is going.  I read articles published on Kitco and have a daily chuckle at the opinions offered by Commerzbank.

They change their prediction every other day - secular bull run, no room for upside, gold will go down

I have worked in banking my whole life and it is not co-incidence that they are known as 'Comedy Bank' in the market.

Remember folks that few people know where the price of anything is going in the short term (unless you can manipulate the market).

Best

Dicker

 

 

[motorbikez]

Lol they are a joke, but not the only ones, I have a look at Kitco comments from so called experts now & again. If gold moves more than around $15 to the upside they are nearly all predicting great things, if it drops the next day by a similar amount its all doom & gloom.

At least with KWN news they are consistent,  90% of their expert commentators are perma bulls & gold & silver are going to the moon lol.

[Marquimoi88]

JP Morgan chase banks

Finally got fined couple 100 million because again caught rigging the gold and silver market so that doesn't help

[dicker]

Allegedly....

When Commerzbank closed their London IB operation, the head of the U.K. trading operation strolled onto the floor and announced this to the traders and told them to begin running down their positions, and they would be made redundant.  
 

Cue the traders dumping stock at “good prices” to friends at other banks who they would then go and work for.  
 

More amusingly the special situations desk was fired and removed from the building.  Normal traders tried to unwind the positions but it was too complex without losing large sums of money, so the special situations traders were hired back a few weeks later on higher salaries...

All allegedly of course. 
 

Best

Dicker

[Rumistacker]

On 02/10/2020 at 09:19, dicker said:

Allegedly....

When Commerzbank closed their London IB operation, the head of the U.K. trading operation strolled onto the floor and announced this to the traders and told them to begin running down their positions, and they would be made redundant.  
 

Cue the traders dumping stock at “good prices” to friends at other banks who they would then go and work for.  
 

More amusingly the special situations desk was fired and removed from the building.  Normal traders tried to unwind the positions but it was too complex without losing large sums of money, so the special situations traders were hired back a few weeks later on higher salaries...

All allegedly of course. 
 

Best

Dicker

Hilarious Dicker!  I remember being in the Aladdin casino on the day before demolition in 1997 in Las Vegas.  The dealers got all their friends to come play and payed out loosing bets because nobody cared anymore as all jobs were lost!  I even recognised staff from other Las Vegas casinos taking part in the scam.  Those that work in the casino industry are the biggest crooks....just like those bankers!