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Thanks everyone for your input, greatly appreciated.
https://seekingalpha.com/article/4359356-gold-short-squeeze-is-getting-physical-beware-others
"The banks have tried to reposition but have found it impossible to close their shorts without taking massive $20billion hit."
First, what banks have disclosed their positions?
Second, what reliable information do we have to that effect?
Third, what would you say if I told you that I have pretty reliable sources within several of the largest banks that have assured me they are fully positioned and ready for Basel 3, and have no exposure problems at all, nor do they think any of their peers are in trouble? What basis would you have for saying they've lied to me?
Hi TMT. The banks have tried to reposition but have found it impossible to close their shorts without taking massive $20billion hit. JPM have closed ages ago and left the rest in the brown stuff. The rise in physical coming will be significant when compared to the paper markets ETFs. I am just stating my view that selling ETFs now and buying physical will be a good bet. ATB Speedy
Ok, I've not commented on this here previously, but I think it needs to be said.
The banks are not going to be surprised by Basel 3. For the most part, they've already repositioned. Anyone expecting a huge change this summer may be in for an unpleasant surprise.
I'm not saying there will be no impact but it isn't going to be immediate nor as significant as some people think.
I'm quite bullish on POG but not primarily because of Basel 3. That's a sideshow, largely.
When see comments regarding managing investments for long term and their families Its becomes clear they are investors , ones that sp will be thus today@ I'm buying this tomorrow they are traders big difference between investors and traders gl
Hi Green. I am not a snowflake but that post is slightly disturbing. Love Basil though. ATB Speedy
Hi Tymers. Same as you, my physical holdings will enrich my heirs beyond their wildest dreams. My GGP holding will allow me to continue to enjoy, to the full, the finer things in life. ATB Speedy
Speedy. I have physical at a level now happy to sit with and main objective was to allow gifting to family to manage IHT. What do I think our value will be at point Ore is moved to Telfer in 2 years all I can say is more how much I have no idea. Over 4 years my strategy with GGP is to build stock with my initial investment, this is far from trading its managing ones own investment 4 years ago I bought x and now hold more without investing more that's a strategy on a Long Term investment that many loose sight off
Hi Tymers Re your 15 28 post. You are correct, gold will become a tier 1 asset(in my mind it already is). The reality is somewhat different and only 85% of spot price will be allowed. I do not have the time to explain why here, but it will mean a 85% hair cut for traders with naked shorts on the COMEX and else where. The race for physical gold will push the price of physical gold up and ETFs down as they get dumped. People do not have much longer to acquire physical metals at this manipulated low price, if you are considering a metals purchase i suggest tomorrow will not be a moment to early. For a leveraged bet for a higher POG GGP is BOOM (sorry Enrico) ATB Speedy
Nothing negative against GGP company fundamentals from me as normal - all good on that front !
First post for a couple of days and straight in with a positive.
Welcome back.
Good afternoon Sherlock!
Basel III rules move physical gold from being considered a Tier-3 asset to being considered Tier-1, which allows physical gold in bullion form to be counted at 100% value for reserve purposes. Gold in unallocated paper contracts will no longer be considered an equal
https://www.investing.com/analysis/gold-and-basel-iii-what-to-consider-200564943
@@@ Pickandshovel ; - You are right P & S - a very clear read, a very clear and concise explanation by Andrew lane, and absolutely to the point that Speedy has been extolling for months. The end of June is a meaningful date for Basel , and the banks are duty bound to respond and take action. Fiat / paper gold is going to be blown out of the window . Physical gold will replace the paper. Since there is not enough gold in Christendom ( at $$$1730 's ) to balance the banks books , and annual gold production is in decline ( until Havieron gets up to speed ) , there is no other ( legal ) answer than for the POG to react accordingly .........and rise .........and rise ........ and ????? The banks will be richer, and so will GGP shareholders.
I just hope that SD and Biswas get a move on.
What do you think Speedy me old gold Guru , and silver sage. ???
Tell me at the Stag on 26th with a glass of vintage lemonade in your hand.
Tig
Whichever macro view we take, banks will just see GGP as offering a potential ROI of 3 or 4:1 within 12 months with a level of confidence they can’t get elsewhere. That’s based on what our SP will be IMO in 12 months.
Even if gold price stays where it is :)
Oh, and don’t overlook the copper.
Pure upside from here.
I don't know if this have been covered on the forum before. I would be interested in folks thoughts on it.
From what I can tell it looks positive for future gold prices.
https://www.investing.com/analysis/gold-and-basel-iii-what-to-consider-200564943