patrick.net

"Our methodology has successfully predicted 47 of the last 2 disasters."

Darlag

Is gold still going to $600 ?

indigenous says

Darlag

Is gold still going to $600 ?

680 +/-

Wave [c] typically ends in the area of the 4th wave of one less degree, as the chart indicates.

http://www.globaldeflationnews.com/goldelliott-wave-update-for-week-ending-1312014/

The current [b] wave should correct to approximately 1500 or so. Notice we called the current advance back in November when everybody hated gold.

http://www.globaldeflationnews.com/gold-elliott-waves-forecast-a-multi-month-bear-market-rally-ahead/

Vicente says

"Our methodology has successfully predicted 47 of the last 2 disasters."

smaulgld says

and every three of two of our followers are bad at fractions and math

:-) - Skeptics welcomed.

indigenous says

Is gold still going to $600 ?

Vicente says

"Our methodology has successfully predicted 47 of the last 2 disasters."

and every three of two of our followers are bad at fractions and math

anonymous says

The Swiss central bank is ready to intervene in the currency markets again to weaken the franc if necessary, the bank’s head said, just two days after the removal of a cap on the franc triggered a surge in the currency’s value.

and the US will do the same if the dollar soars.

Central banks do not control exchange rates or yields or anything else for that matter. Markets tell them what to do, not vice versa. The illusion comes from sympathetic social mood. When that social mood sours, as it has begun to do globally, central banks will be forced to defend their balance sheets in any way they can.

Central banks are just that - banks - and they have no desire to go bust by buying or holding a pile of bad assets, thereby debasing their own reserves to nearly nothing. There is some level at which central bankers say enough, and the world learned of the SNB's level Thursday.

In the coming weeks and months we will learn what those "breaking points" are for other central banks as social mood continues to become even more pessimistic.

Call it Crazy says

darlag says

indigenous says

Darlag

Is gold still going to $600 ?

680 +/-

Hmmm... It's at $1278 right now....

http://people.howstuffworks.com/voodoo.htm

darlag says

they have no desire to go bust by buying or holding a pile of bad assets, thereby debasing their own reserves to nearly nothing.

But that would mean that the dollar would have to be debased to half of what it is now for gold to be at around $ 600.00. Really?

smaulgld says

Vicente says

"Our methodology has successfully predicted 47 of the last 2 disasters."

and every three of two of our followers are bad at fractions and math

Nope. While Vicente likely said that in jest, its not too far off the mark. My last informal tracking of an Elliott waver over approximately 20 years

"Accurately predicted 137 of the last 4 downturns"

So id say his estimate is pretty spot on. Nicely done Vicente!

indigenous says

But that would mean that the dollar would have to be debased to half of what it is now for gold to be at around $ 600.00. Really?

It means no such thing. Gold and the dollar are not directly correlated in any fixed way. Both are free to float as they will. You could, however, use the DOW as a proxy for cash value and measure gold against it. When you do, you find the dollar has collapsed in value since 2000 even though the DOW has increased in price. And, even though Gold has declined in Price, relative to the DOW it has increased in value. I've posted charts before showing that correlation.

Here:

That seems to me that the Dow is inflated and the price of gold goes up in inflation?

indigenous says

That seems to me that the Dow is inflated and the price of gold goes up in inflation?

Bingo! So if the price of gold is going down relative to the price of the Dow, but the value of the Dow is going down relative to the price of gold, then it can't be inflation that we are experiencing.

I wonder what it is? /sarc

Is the Dow going down? IOW we no longer are experiencing the Yellin put?

If the dollar is deflating then the gold would go down in value. As your video states markets not the Fed create the prices, in this case the dollar.

IOW at this point in time the dollar would actually be the better place to be?

indigenous says

IOW at this point in time the dollar would actually be the better place to be?

That is the message I have been trying to convey since I started posting here. In a deflationary depression, Cash is King, NOT Trash.

But I will assure you, the mindset that one must be "invested in something", pervasive in the 70s, 80s and particularly the 90s when credit inflation was "irrationally exuberant", will not be abandoned by the general public until it is too late. The "crowd" is always the last to the game. Government is the ultimate crowd so don't look to it for help. The crowd buys at the top and sells at the bottom. It is a pre-rational herding instinct that can only be overcome with education. Only a very few will understand what is happening and how to take advantage of it. Most will suffer greatly.

ironic that the Wogster gets this albeit for the wrong reasons.