Canada dumps gold. Makes me want to cry.
8 posts
• Page 1 of 1
Canada dumps gold. Makes me want to cry.
by JadeDragon » Mon Feb 08, 2016 8:45 pm
“The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.” – George Bernard Shaw.
-
JadeDragon - Realcent Moderator
- Posts: 5434
- Joined: Mon May 19, 2008 3:00 pm
- Location: Canada
Re: Canada dumps gold. Makes me want to cry.
by silverflake » Tue Feb 09, 2016 12:29 pm
Isn't this a classic signal of a bottom? To my Canadian friends, sorry to hear about this move.
But on an individual level - keep stacking.
But on an individual level - keep stacking.
Last edited by silverflake on Tue Feb 09, 2016 2:03 pm, edited 1 time in total.
-
silverflake - Penny Hoarding Member
- Posts: 982
- Joined: Wed Nov 24, 2010 9:49 pm
- Location: Virginia
Re: Canada dumps gold. Makes me want to cry.
by 68Camaro » Tue Feb 09, 2016 1:42 pm
I think (sadly) that it is a classic sign of desperation from the powers and this was Canada's response to a request to help stabilize the markets. I would never throw any stones at Canada for this move because I suspect as others have years before me that the US has little to no gold left itself that isn't encumbered. At least Canada still has its reserves in the ground.
In the game of Woke, the goal posts can be moved at any moment, the penalties will apply retroactively and claims of fairness will always lose out to the perpetual right to claim offense.... Bret Stephens
The further a society drifts from the truth, the more it will hate those that speak it. George Orwell.
We can ignore reality, but we cannot ignore the consequences of ignoring reality. Ayn Rand.
The further a society drifts from the truth, the more it will hate those that speak it. George Orwell.
We can ignore reality, but we cannot ignore the consequences of ignoring reality. Ayn Rand.
-
68Camaro - Too Busy Posting to Hoard Anything Else
- Posts: 8375
- Joined: Thu Dec 30, 2010 6:12 am
- Location: Disney World
Re: Canada dumps gold. Makes me want to cry.
by silverflake » Thu Feb 11, 2016 9:15 am
Didn't Britain dump it's gold about 15 years ago almost precisely at the last bottom? Pretty sure. My point is, here's the ultimate brainless move by the Canadian Government in terms of value for it's people....I'm telling you, it's the sign of a bottom. When the government finally capitulates, it's time for the market and sentiment to turn.
My question is does the U.S. truly hold the gold it says it has? Hmmmmm....
Stack until your back hurts from lifting it.
My question is does the U.S. truly hold the gold it says it has? Hmmmmm....
Stack until your back hurts from lifting it.
-
silverflake - Penny Hoarding Member
- Posts: 982
- Joined: Wed Nov 24, 2010 9:49 pm
- Location: Virginia
Re: Canada dumps gold. Makes me want to cry.
by JadeDragon » Thu Feb 11, 2016 3:17 pm
It's a very Liberal Government move. Stupid,
“The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.” – George Bernard Shaw.
-
JadeDragon - Realcent Moderator
- Posts: 5434
- Joined: Mon May 19, 2008 3:00 pm
- Location: Canada
Re: Canada dumps gold. Makes me want to cry.
by nero12345 » Thu Feb 11, 2016 8:33 pm
JadeDragon wrote:It's a very Liberal Government move. Stupid,
Agreed, I'm one for change, but it has to make sense. These liberals are making it hard to wrap my head around their moves.
Silver and Gold
•It does nothing – but it hides no mistakes.
•It holds no press conferences – but it tells no lies.
•It makes no promises – and never delivers less.
•It does nothing – but it hides no mistakes.
•It holds no press conferences – but it tells no lies.
•It makes no promises – and never delivers less.
-
nero12345 - Penny Collector Member
- Posts: 476
- Joined: Thu Feb 24, 2011 8:14 pm
- Location: Cape Breton
Re: Canada dumps gold. Makes me want to cry.
by Engineer » Sun Feb 14, 2016 12:10 am
silverflake wrote:Didn't Britain dump it's gold about 15 years ago almost precisely at the last bottom? Pretty sure. My point is, here's the ultimate brainless move by the Canadian Government in terms of value for it's people....I'm telling you, it's the sign of a bottom. When the government finally capitulates, it's time for the market and sentiment to turn.
My question is does the U.S. truly hold the gold it says it has? Hmmmmm....
Stack until your back hurts from lifting it.
In the race to inflate currency, governments tend to buy when prices are high and sell when they're low. A great example is all of the largest countries filling strategic oil reserves in 2008. China building massive storage facilities made it that much worse.
-
Engineer - Super Post Hoarder
- Posts: 3266
- Joined: Thu Jan 12, 2012 5:08 am
Re: Canada dumps gold. Makes me want to cry.
by Know Common Cents » Sun Feb 21, 2016 8:54 pm
These things will continue to happen. After all, we live in Bizarro World now, don't we?
"I don't know what I'm doin' but I'm sure havin' fun" Herman Munster
I've recently adopted the Groucho Marx philosophy for dealing with politics and other life challenges, "Whatever it is, I'm against it!" (Horse Feathers 1932)
I've recently adopted the Groucho Marx philosophy for dealing with politics and other life challenges, "Whatever it is, I'm against it!" (Horse Feathers 1932)
-
Know Common Cents - Penny Hoarding Member
- Posts: 610
- Joined: Sat Jan 01, 2011 8:36 pm
- Location: In the middle of the Midwest
8 posts
• Page 1 of 1
Return to Economic & Business News, Reports, and Predictions
Who is online
Users browsing this forum: No registered users and 9 guests