dewcon
Quality Control Expert
And they put Madoff in jail for that.
A little over $16,000,000,000 in paper gold contracts sold at the open today. That's not people selling gold or closing out longs. Thats $16,000,000,000 in paper contracts conjured out of thin air and thrown at the gold market. All at once. ... to do the most damage possible.
Roger rabbit, dick tracy and colonel Sanders will be hard at work investigating these fraudulent actions for the foreseeable future.
Where are you seeing the $16B?
Today's volume was 4,399. Each contract is 100 oz. of gold.
4,399 x 100 x $1,600 = $703.8 million worth of gold traded today.
Gold usually doesn't go up during market crashes. Everything sells off except government bonds.
Did you see the move in Palladium? From $2,700/oz. on Feb. 27 to $1,770.
Finding a PD ring was #1 on my bucket list at $2,700, but at this pace it won't be for long.
Is gold on the move....... i see it jumped $108 this morning? WOW.... its now $1659. Thou that kind of jump is never a good sign of our economy. This may be another one of those fast moving gold buys making it go up to the magic $1900 again.
And also have you noticed how as soon as the price of gold went up supply mysteriously appeared out of no where, when it was hard to find. A day ago.
It always concerns me spending a lot of paper money .... for a piece of paper. Like someone else said..... im not in the stock market i like THINGS (i can put my hands on.) Pretty simple if you dont have a run on them to print um all day long...... surely someone oversees this?
Trade your precious for paper? Steve you know better than that!Another 5 or $600 spike and I might start considering to sell a little.
Trade your precious for paper? Steve you know better than that!
What is this selling you speak of? I don’t hold gold to sell. I can’t think of any reason to, unless you’re broke.So a Question. Is everyone getting a 1099 when they sell?
Thanks Dave
Gold is good for that. Good luck to you also!I've been saving gold for a rainy day. Well that rainy day came being "locked down" and a couple of unexpected large bills came in. I just sold enough for a few months of bills. Yes this great hobby just saved my A$$ again!!!!! Good Luck everyone!!
What is this selling you speak of? I don’t hold gold to sell. I can’t think of any reason to, unless you’re broke.
Nope.... but I’d be careful about selling to much in the 10 gran range. Homeland security keeps an eye on it i was told. All seemed for when it got high and there were a lot of cash for gold fly by night people and drug people.
DEW, when is the last time you sold gold? And was it over $500???/ I know at least at one refinery it is required to give them your SS#
When I sold some gold 5 years ago or so, I did get a 1099.
So I ask AGAIN, Has anyone that has sold gold last year did they get a 1099? OR have the rules changed?
Thanks Dave