Hi Ashedfc,
What are the levels at which one can initiate fresh purchases? in Gold and silver

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mor

Whenever you experience joy, peace, security, equanimity or purity, it is only because you are aligned with ALMIGHTY.

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Originally posted by ashedfc
We are heading into a deflation scare........ the solution will be money printing, leading to hyperinflation... so prepare accordingly..

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"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."

-- Rhett Butler in "Gone with the Wind"

Gold price drops sharply on US economy hopesContinue reading the main story Forex Gold Index(pm fix) $/oz
Last Updated at 24 Aug 2011, 10:25 ET
price change %
1770.00 -
-106.00 -
-5.65
Continue reading the main story
Global EconomyEnd of the world as we know it?
Europe's Wile E Coyote moment?
Charting Europe's economic woes
What turmoil means for you
The price of gold plunged by 5.6% on Wednesday to close at $1,757.30 an ounce in New York, a drop of $104 on Tuesday's finish.



ashedfc,
Can u shed light if this is just a small time balance or gold will drop further

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infocan

No currency can replace USD as World reserve currency.

No one has seen future and History is a good guide. If we look at past century, whenever US economy had contraction, recovery used to be good for 2 years and ts faltered again in 3rd year. In every third year of economic recovery there is a relapse, which typically lasts for 6-12months. But this time, the mode is and will not be as severe as the first downturn in 2008.

However, this time is little different as US had one of biggest contraction in 2008 and followed by the slowest recovery in 2009 and 2010.

Second problem - Fed is keeping interest rate low to give kick start to economy.However the cheap available money has gone to speculative activity instead of going to Business Investments that would have helped in creating jobs. Hence US recovery is slow as it is not getting the real benefits of stimulus.

US is fully capable of handling any levels of debt:The biggest and the greatest reason is - US is the most innovative society in thw World.

Default is not the end of the world. After all, Argentina has defaulted several times and it's still around.


Finally about Gold - Like the traders so often says gold takes the stairs higher and the elevator down. In fact, what’s happening right now is a classic sign of a top. This was one of the greatest bubbles. In 1980 gold went parabolic very much as it just recently did. Gold could go down another $150 to $200 in a short span of time. $1600 within a month.

"You must live in the present, launch yourself on every wave, find your eternity in each moment. Fools stand on their island opportunities and look toward another land. There is no other land, there is no other life but this.” ~Henry David Thoreau

Enjoy life's pleasures!

Quote:

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Originally posted by ashedfc

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Originally posted by pratickm

Quote:

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Originally posted by ashedfc
We are heading into a deflation scare........ the solution will be money printing, leading to hyperinflation... so prepare accordingly..

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IMHO, inflation is already here.
Whether we see true hyperinflation or not is another matter.
True hyperinflation like the Russian crisis or the Latin American crisis are rare.
Moderate to high inflation is what the governments across the world are trying to create - it wipes out sovereign debts, increases tax revenues and reduces demand for energy.

The threat of deflation was never there...it was always a smoke screen, an excuse to pass the bailouts and the massive money printing (QE).
Deflations - at least the 1930s style - are extremely rare and don't last too long.
A moderate deflation is not a threat; on the contrary it may even be slightly desirable from an affordability perspective.
There are backstops to deflation in the modern world, such as the equilisation of currencies and purchasing power between the developed world and the emerging world.
Such countervailing backstops were not available or as effective back in the 1929 - 1933 periods.

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TRUE
The deflation scare was created, so investors could rush into the US treasury (long term Junk in my opinion), when US was downgraded..

The difference in High Inflation & Hyperinflation is only the loss of faith in currency (what we call currency crisis or currency collapse). In high inflation like in India, we still have faith in Rupees, that it will stay for the future; whereas if Inflation hits 25% or 50% or 100% or more than the Currency has to be replaced & a fresh start is the only way (like Zimbabwe/Wiemar-Germany/Argentina/& many other countries in the past)..
Its hard to say when US dollar will follow that way- but imagine if Oil starts trading in another currency (except the USD) it can happen very easily & very soon.

A Global QE on a massive scale is coming very soon (US is tied politically & can't do it all alone; watch this friday's announcement from Fed). The Global QE will blast Gold to unprecedented high's. & Japan already announced 100 billion yesterday.

http://www.jsmineset.com/wp-content/uploads/2011/05/Sinclair35v2.jpg" border="0" alt="http://www.jsmineset.com/wp-content/uploads/2011/05/Sinclair35v2.jpg" />


worth reading http://www.sirchartsalot.com/article.php?id=156

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How can I buy Gold bar or coin? I went to scotiabank branch bu they told me that they charge 150$ shipping cost and bar making charges??/ Again that lady didnt know much about it. I called the online services but they mentioned to me that it will be cheaper for me to buy from the scotiabank branch. Anyways..its not going anywhere..

Called TD bank but they can only give cert but not real Gold..
Please advise..

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http://www.youtube.com/watch?v=YMVuD_in67M

E mere vatan ke logo.............

If you want to do something for our country, just dont support corruption or be part of it

Hi 7 Wonders,
Best branch to buy gold at Branch, is from Scotia Bank Branch @ KING St, downtown, I normally go there , any other branches does charge shipping , handling , aand their local branch handling charges too.
As you experienced the staff is not fully aware and educated enough to guide you properly, but the branch @ Downtown (Near King Subway Stn), is the head office with a special branch dedicated for dealing in Bullion sell and purchase.
Hope this helps.

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mor

Whenever you experience joy, peace, security, equanimity or purity, it is only because you are aligned with ALMIGHTY.

Thank you peacock

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http://www.youtube.com/watch?v=YMVuD_in67M

E mere vatan ke logo.............

If you want to do something for our country, just dont support corruption or be part of it