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LoneStarHog

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Reply with quote  #1 
One thing that I have not seen addressed in this forum is the following:  What happens with a huge upward spike in gold/silver prices?

While I consider charts completely useless in all of these highly-manipulated markets, especially the gold/silver markets, there are other reports which MIGHT indicate possible moves.  Again, even these reports are subject to being highly manipulated and the data being total crap. (e.g. The COT Report, both Futures Only & Combined, COMEX Warehouse Reports, etc.)

So, the Nightmare Scenario is a huge spike up in prices, which can occur in a few different scenarios:

1) Huge short squeeze at COMEX
2) COMEX default of physical delivery
3) Huge spike in physical premiums as physical disassociates itself from paper

If this occurs and Bullion Direct does not have the physical metals, either owed or stored, then the company could be forced into an immediate Chapter 7, rather than a Chapter 11.  Also, if customers do receive a cash payment (settlement), this is based not on the Spot Price of gold/silver, which might be multiples higher.

The truly sad thing about all this is that those who sought to protect themselves might be left at the train station when gold/silver start to move.  I do not believe that the next move upwards will be a gradual one, like seen in the past.

We shall see...

Excellent commentary from Andrew> http://kingworldnews.com/andrew-maguire-a-gold-and-silver-tsunami-is-forming-as-the-shorts-are-now-going-to-get-destroyed/
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JG

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Reply with quote  #2 
Quote:
Originally Posted by LoneStarHog
One thing that I have not seen addressed in this forum is the following:  What happens with a huge upward spike in gold/silver prices?


This is a good point. With Tulving, it wasn't quite as much of an issue -- people ended up filing their Proof of Claim forms based on the price they paid, and pretty much figured it was an investment that was never made. They never said "I own X oz of gold (or silver)".

But here, some people have owned this metal for many years (in their minds, at least, as there may have been loopholes allowing BD to "borrow" the metal), and a major price move upwards could be a significant issue.

Hopefully, Bullion Direct has all the metal. Otherwise, perhaps we hope for no major upwards price moves until this is settled?

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harley_52

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Reply with quote  #3 
Seems to me the settlement should be for the market value of the metal stolen on the day the settlement occurs.  No?  Why should the victim be responsible for market fluctuations when the ability to react to them has been misappropriated by Mr. McAllister right along with the bullion?
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Khachir7

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Reply with quote  #4 
This is why i decided to replace 100% of what i held at BD in today's relatively low prices. This way i will lock in my loss at $12k. Otherwise, if price goes up, then my loss will increase in tandem...
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Khachir7

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Reply with quote  #5 
For those who are disheartened by price declines, pls note that while gold got cheaper in dollars, it got significantly more expensive in other currencies. So, I view this as if we here are lucky to buy it at a discount due to the $'s position in the world. But of course it depends on your time horizon.
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taratot

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Reply with quote  #6 
I don't believe gold or silver is being manipulated, or ever has been. I don't think any of those three scenarios will play out. King is a sophisticated gold promoter and has an agenda to sell, so don't become married to his propaganda. It will ruin you.

All I want returned is the price I paid for my silver six months ago (plus the $1300 held in cash). It's of no consequence to me if PM prices soar or fall even further. I'm certainly not buying any more until the bear market is over - which could be years from now.
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Khachir7

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Reply with quote  #7 
Sorry, can't recall who King is and never listen to him. I am just trying to use common sense. I (and many others?) have too much money invested in the stock market as it is through 401k, other plans/investments and jobs. I also have a long time horizon. In any case, I estimate that 90% of the world population would be buying gold if they could afford it. We are lucky we can. Also, perhaps gold /silver should not be viewed in dollar terms - but rather in ounces, in absolute terms. These are just thoughts - I am not telling others what to do!
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LoneStarHog

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Reply with quote  #8 
Quote:
Originally Posted by taratot
I don't believe gold or silver is being manipulated, or ever has been. I don't think any of those three scenarios will play out. King is a sophisticated gold promoter and has an agenda to sell, so don't become married to his propaganda. It will ruin you.

All I want returned is the price I paid for my silver six months ago (plus the $1300 held in cash). It's of no consequence to me if PM prices soar or fall even further. I'm certainly not buying any more until the bear market is over - which could be years from now.


So it has been admitted that every market is manipulated (equities, bonds, FX, commodities, etc.), BUT gold and silver are NOT manipulated.  The two metals most strategic to the ILLUSION of a strong U.S. Dollar.

Sheesh!
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LoneStarHog

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Reply with quote  #9 
Quote:
Originally Posted by Khachir7
Sorry, can't recall who King is and never listen to him. I am just trying to use common sense. I (and many others?) have too much money invested in the stock market as it is through 401k, other plans/investments and jobs. I also have a long time horizon. In any case, I estimate that 90% of the world population would be buying gold if they could afford it. We are lucky we can. Also, perhaps gold /silver should not be viewed in dollar terms - but rather in ounces, in absolute terms. These are just thoughts - I am not telling others what to do!


Do not listen to people who criticize a MESSENGER and ignore the message.  Eric King posts analysis by some of the top people in the financial industry, most with 40+ years. His interviews are excellent since he does not interrupt his guests.  Pointed questions are asked and that is the job of a good interviewer.

I have been in precious metals since the 70s, and especially since 2000.  I have watched every tick of the PM markets.  Anyone who does not see the manipulation is delusional.  Years ago it was somewhat hidden.  Now it is so in your face that it signifies the end is nigh.
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LoneStarHog

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Reply with quote  #10 
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shooter magaven

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Reply with quote  #11 
Quote:
Originally Posted by LoneStarHog
I have been in precious metals since the 70s, and especially since 2000.  I have watched every tick of the PM markets.  Anyone who does not see the manipulation is delusional.  Years ago it was somewhat hidden.  Now it is so in your face that it signifies the end is nigh.


This is very interesting, LoneStar, can you elaborate on "the end is nigh" (i assume you meant near). What in your veiw would be the End. PM prices fall to dirt cheap and we all lose? Or the influences/manipulations fall away and metals rocket to the moon?
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mindmelter

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Reply with quote  #12 
Can someone explain to me how this is not silver manipulation?

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JG

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Reply with quote  #13 
Quote:
Originally Posted by mindmelter
Can someone explain to me how this is not silver manipulation?


Don't you remember that night? A few hours later, we learned that Osama bin Laden had been killed. So clearly, lots of people sold their gold (and silver, too, since they are really the same thing, right?), and there were very few buyers. Nobody wanted to be the one holding their gold when the news came out about one of the biggest news stories of the year!

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screeg

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Reply with quote  #14 
That's your nightmare scenario, that the price of gold goes up? Mine is that I'll never see my $20,000 again.
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