tag:blogger.com,1999:blog-6089228851855763774.post3210719137925019656..comments2024-02-05T17:24:09.663+08:00Comments on Gold Chat: Delusions so obviousBron Sucheckihttp://www.blogger.com/profile/00530576934994289879noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-6089228851855763774.post-68592492156258942572013-06-02T19:01:57.687+08:002013-06-02T19:01:57.687+08:00RE Jim Willie gibberish
See For pundits, it's ...RE Jim Willie gibberish<br />See <a href="http://www.eurekalert.org/pub_releases/2013-05/wsu-fpi052413.php" rel="nofollow">For pundits, it's better to be confident than correct</a><br /><br />By and large, say Smith and Wooten, pundits get a better audience through confidence and the excitement it generates.<br /><br />"There is some psychological literature on the idea that people hate uncertainty," says Smith. "The fact that people don't like uncertainty would suggest that they don't like the idea of a Nate Silver sort of person standing up there and saying, 'I'm only 90 percent sure.'"<br /><br />"I like to think of it like a roulette wheel," says Wooten." If you have somebody just placing bets, that person is kind of boring. But if you have someone going, 'Oh, yeah! It's red!' and they are confident, that's the person that you are interested in." <br />meikahttps://www.blogger.com/profile/17410659353169461214noreply@blogger.comtag:blogger.com,1999:blog-6089228851855763774.post-78725398371235823932013-05-30T09:47:47.798+08:002013-05-30T09:47:47.798+08:00Bron. Thanks for the time you take to share your ...Bron. Thanks for the time you take to share your knowledge and understanding. Being a natural skeptic, I find your counterpoint very helpful in maintaining a balanced view of the PM markets.<br /><br />A few weeks ago you reported that you (Perth Mint) were not seeing supply chain issues other than essentially retail products (coins, small rounds, etc.) Is that still the case?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6089228851855763774.post-2822863176199217022013-05-28T09:57:55.439+08:002013-05-28T09:57:55.439+08:00Ferdinand, my purpose here is to remind people kee...Ferdinand, my purpose here is to remind people keep an open mind. The fact is that there are many who do not "understand that no one really knows what is happening" and instead think that they know what is going on. It is probably a futile attempt as such people won't read this blog but it is worth saying.<br /><br />I think your geopolitical point is valid, with so much gold held by central banks we have to ask why, and why they haven't taken this great opportunity to permanently sell their barbarous relic into the bull market.Bron Sucheckihttps://www.blogger.com/profile/00530576934994289879noreply@blogger.comtag:blogger.com,1999:blog-6089228851855763774.post-19909807696201439472013-05-28T09:31:28.629+08:002013-05-28T09:31:28.629+08:00Bron, not to be rude or anything, but what is your...Bron, not to be rude or anything, but what is your purpose here? We all understand that no one really knows what is happening because there is virtually no transparency in this market. Do we simple ignore the market and stay out? People are trying to give different opinions on what they see happening amd what they think is going to drive this market. If a person is foolish enough to trade off the info who's fault is that. Certainly drawing people's attention to the possibility that something is amiss is not unwarranted. The cause of the irregularities is the issue.<br /><br />Finally, let me throw my two cents of speculation on what is likely behind all the conjecture in these markets. Politics, mainly China's snub last fall to the talks in Japan following the FED's QE announcement. Since then they have been on a tear, buying everything in site. Now place on top of that the price drop in April, followed by a moved up China/US Summit to June that on the surface is being billed as talks on trade and territorial disputes. I do not doubt that they will be discussed these issues, but I also think China's gold purchase are the main reason for the urgency. China can't catch up to the US if the US has unlimited money to spend on anything they want. Now gold's role as the anti dollar becomes the tool to stop the printing machine. Not so much for economic reasons, but geopolitical necessity. Likely all the market action is forced by this reality and the banks and whoever else is more then willing to make a fortune and call it their patriotic duty or "GOD's" will if you prefer. All while the regulators close a blind eye. <br />Mind you this is pure speculation on my part, but I would submit it is much closer to reality then most realize. The error of the commentators is to believe that the markets will eventually trump the manipulations, when in fact it will be unpredictable geopolitics that is the real straw likely to break the camel's back.Ferdinandhttps://www.blogger.com/profile/03895453484997415799noreply@blogger.comtag:blogger.com,1999:blog-6089228851855763774.post-91855738124503011912013-05-28T07:25:32.862+08:002013-05-28T07:25:32.862+08:00MF Global. Even prior to that it was clear you wer...MF Global. Even prior to that it was clear you were relying on the exchange/clearing house. In any case we didn't/don't have a need to use COMEX as we don't have exposure to metal prices. Bron Sucheckihttps://www.blogger.com/profile/00530576934994289879noreply@blogger.comtag:blogger.com,1999:blog-6089228851855763774.post-35567888824676138922013-05-27T23:50:32.882+08:002013-05-27T23:50:32.882+08:00Bron-
In a previous post you said, "BTW, Per...Bron-<br /><br />In a previous post you said, "BTW, Perth Mint once had a new hire in our Treasury department suggest we should trade on COMEX. That got laughed at (and that was before MF Global). We will take our chances in the OTC market, where at least we can pick our counterparties, do due dilligence on them, and trade on our terms." I am curious what behavior Comex has engaged in that led to that statement. Thanks.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6089228851855763774.post-2106878503653105792013-05-27T14:24:01.846+08:002013-05-27T14:24:01.846+08:00Probably not much, as that exchange failed because...Probably not much, as that exchange failed because it didn't have enough volume, so it doesn't seem like it was an important market.Bron Sucheckihttps://www.blogger.com/profile/00530576934994289879noreply@blogger.comtag:blogger.com,1999:blog-6089228851855763774.post-29232042985192338332013-05-27T14:13:25.400+08:002013-05-27T14:13:25.400+08:00Hi Bron
What kind of consequences will this have ...Hi Bron<br /><br />What kind of consequences will this have on the precious metals market in Asia?<br /><br />http://hkmerc.com/en/Media-Centre/Press-Releases/HKMEx-Voluntarily-Surrenders-Authorisati.xml<br /><br />Regards<br /><br />GustavAnonymousnoreply@blogger.com