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dullard economcs thread

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didn't jnow which of the previous discussions to drop this into so thought I'd pop it in here...

turns out the austerity bullshit was based on fudged data and a mis-programmed spread sheet. I guess they should have stuck to fortran

www.nytimes.com/2013/0...

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For example, US prints loads of dollars, weakening the dollar, foreign central banks intervene to stave their own currency strength by selling their currency and then diversify those holdings into, amongst others, gold.

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Sounds like the zero sum currency wars of the 70s and 80s. Always ends in someone going bust being a race to the bottom, with social unrest to boot. Suppose that's why we have the centralised financial bodies to try and co ordinate things. They have just recently given the Japanese the green light to continue QE x 100. It's the nature of this system that boom and bust remains ever present. It's just the magnitude and scope that has multiplied in the past decade or so.

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13 handle only 9 bucks away on the futures. Decent buying from asia on that move down but dollar strength still driving across the board

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Spreadex.com

Probably not the best value but I have a credit account and handy on mobile while in work, while following the advice of someone I don't know on a pub forum ;)

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Where you do that?

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I'm spread betting Baz.

Basically £10 per point movement in the price. If I buy @ 1420 and sell @ 1430 I make £100 (minus the spread which is 1.4 for Gold June)

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how much you gambling making that amount?

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Made almost £500 yesterday trading the gold. I should have said my £1 trades are at 0.1 per point so riskier than it looked from previous posts.

I'd been taking Dairebhoy's long term view of gold price falling and buying when I guessed it would bounce back.

I bought last night however when she dipped to 1425 though so an down £160 ATM :(

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bad idea putting that money in my account.

now I'm hooked ha

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EFP is trading only $1.20/oz over the futures so yeah, can get the physical quite easily. We shipped a few thousand kilos last week. You've been reading too much Zerohedge it's sounds like marvin

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Could very well go to below 1300 and close to 1200. The central planners can put the paper price anywhere they want. Question is whether you'll be able to buy real metal at that price.
Once the big players have enough metal and are net long physical gold and when enough of the herd have bought into the perceived safe haven of the US dollar, things will start to get interesting.

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Medium term, yes. Could see a bounce in the short term though from the intraday bottom pickers. I'll take back some of my short here and sell a bounce

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Price going crazy, will it continue to go down much further?

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1394, took slightly longer than I thought but got there. Lets see if the dollar strength can continue. Shrugged off the poor industrial and producer price data quite easily

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They better not be filled with tungsten :)

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$1.20/oz over the futures rather than spot (spot is physical) so even cheaper. Open an account with the private bank and i'll but in a good word with one of our sales guys for you. You obviously have to pay the transit costs and insurance, there's a minimum size (as the min futures contract size is 100 oz for the hedge) and we can only deliver to a vault so the privates residence is a no go but otherwise, you're good to go

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I'd be impressed if you were able to ship me a few thousand kilos of physical gold at only $1.20/0z over spot and have this delivered to a private residence or vault?

Seriously dairebhoy, pm me more details. What about silver? can you ship me physical coins and bars at a similar percentage over spot to gold?

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Can't believe he's just split. He on commission, about 10 big ones coming his way if this pulls thru

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Dairebhoys flew off to Singapore for the weekend leaving me and Baz to figure it out ourselves.

I'm away to Cash4gold with the wife's jewellery before this gets any worse.

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feel like cashing in here

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you must have cashed out then?

all I know my starting was £64 and its at £120 now.

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That's not taking profit though, that's the exact opposite!

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What ever happened to BTC?

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I am actually in Singapore for the weekend, but I live here so can't blame me for that. Hope you guys made a bit of money on the move, happy trading.

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You'll never go bust taking profit baz

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there profit no doubt about it. just not sure when to pull out of it.

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I will if it did a mad reverse and ate up all my money. tho have made nearly 100% profit so far. great not having a clue lol

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Duffy, I have no considered approach to my provider, I just have a spreadex account that does sports and financial spreadbetting and it is handy to use on the phone.

Without doubt it is not good value. You can trade indices, shares, currency, commodities etc but you only trade on what the price is, you never actually own anything, receive dividends etc.

I have no clue what I'm doing either, information and knowledge like Dairebhoy has is key to this, without that you are mug punting.

And fuck that bounce yesterday, took a swing of ~ 3% in minutes. Pretty much wiped out my profit, without a Stop Loss it could have been worse.

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I'm all in

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I don't trade equities kaizen but with Carney coming in in July, there's definitely room for more upside (especially after the weak CPI data today). More room for QE. Long FTSE, short cable

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Went short again on the fail to break 1400. Bernanke and BoJ tomorrow. Long dollars across the board still the trade of the moment. Have gone short copper again too, think we head back to 6800. If it breaks there, we're straught back to 6000. Could be the trade of the year. Otherwise, i stay long EURCHF and USDCAD upside and cable downside through options. Still short JPY although have drimmed that somewhat to see what BoJ do next. USDMXN could be one to watch too. Been long MXN all year down to 12. Seen a decent rebound and looking like a good level to get back in shortly.

"dairebhoy Sunday 3 March 2013 @ 3:30 a.m. Stay long USD, DXY is going to 85"

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fuck me that gold done a wild upturn yesterday :(

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is there anyway oul dairebaiii could do a top 3 predictions of the week thing to help a brotha make some cabbage

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choc-ice how'd you choose which provider to go with out of interest?

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Daire, whats the medium view on the Ftse from your point of view. Can these new highs be sustainable or is there a crash coming?

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Oh right, thought you were just asking the question Razmatazbaz already asked, sorry just assumed you were a bit simple ;)

No need to implement new platforms, that Finsbury square lot have it locked down.

If you want to know why I choose what provider, incentives like £500 bonuses have in the past sweetened the deal. I don't really give a fuck about the software.

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I know what spreadbetting is...I'm in a retail banking software company designing and implementing spreadbet and cfd trading platforms :)

just curious

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ha, there's always someone who can provide better and cheaper platforms to the providers ;)

that's interesting cos I've just had a meeting with a client about the new Android app we're building and they are fighting with us about how many clicks it takes a user to do things. It's one click too many...

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Mkt feels a bit edgy here ahead of Bullard's speech at 4.30

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Useful vid for the big picture perspective on Gold

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USD rally, nice one Bernanke

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Bernanke has been looking even more dead behind the eyes than usual recently

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That man is a cunt.

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Toils and tribulations of being in the front line

Despite the "business as usual" talk, I get subtle despair

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It must be a stressful time for Bernanke as more people wake to the bankers charade.

Can't help but think that when the crash comes the likes of Bernanke, Geithner, Obama and these guys will be hung out to dry by men who sign their pay-cheques

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Good vid on too big to fail banks.

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Bernanke could be out by the end of the summer according to this article,

www.marketwatch.com/st...

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*thinking

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Any decent free reading material on chart reading? I am think i might like to get into forex and do a bit of trading when work is quiet..

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*thumbs

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