Member Info for MontyMcgree

There was talk of top slicing not long ago, in hindsight that seems like a reasonable thing to have done, I said and I quote Feb 2nd

"It's why top slicing isn't the worst idea, then at least with drops you've already cashed out some profit so you're in a more relaxed position and don't feel like you're forced to react to protect anything + you have a few quid spare to put back in if you feel the timing is right."

I remember saying gold could drop 40%, 20th January

"At some point it will drop 40% and you would be forgiven from just looking at chart to think it could drop at any time given the incredible rise, looks unsustainable, but given the state the world it should have legs yet"

I believe I got told something along the lines of "I don't understand" and "this time it's different"; ok I didn't think it would happen so soon and maybe it wont be as much as 40% but the incredible spike in gold in the past year didn't look sustainable, at some point it had to fall back and consolidate and if it wasn't wars it would be something else

The good thing about having these types of negative opinions is if you're wrong your investment goes up, if you're right you get to say I told you so and I'm sure you will all humour me with grace, thanks.

Well lets hope they're bottom prices

Yes it's a brutal day of red across the market

Why would you find that something to pick argument with? is everything ok Culpepper?

Yes a brutal day hey, exciting moves

When there's any fear/liquidity issues then institutions get forced out of positions and have to sell, some of those positions will be in gold, so yeah it's all intertwined gold isn't on an island by itself and will get sucked down on paper in the short term

Who knows what will happen this week with GGP sp but it wont be related to anything happening with GGP

Ocelot, in my opinion your unwavering positivity feels unnatural and it feels very condescending that you believe people can't see through it.

Thanks for the insightful posts bamps

I used to be part of a precious metals forum and they would do bulk orders together, I think from Germany which apparently got around VAT but this was in the 2010s and I don't know if this is still a thing, if my memory is right it was from silver-to-go but I just googled and apparently they were bought out by another company

Personally I don't see the point in physical silver, if you want to hold precious metals gold is a lot more compact and easy to squirrel away and you wont pay any VAT

If I wanted to play around with silver price id just do something like SLV or there are leveraged silver options where you can put less money in and gamble

Yes was interesting I watched this the other day

Apparently the story behind it was they wanted to help his public image so this video was filmed to make him look human, smart and to explain(lie about) where his wealth came from

I've also been watching this channel which has been going through evidence https://www.youtube.com/watch?v=PZNBaTkbloQ

SelsdonMan you are right but the trouble is the time frames can be very long with such things

I watched the Money Masters in 2014 and The Secret of Oz which is also by Bill Still, both very well done and interesting

I also enjoyed the Hidden Secrets Of Money series by Mike Maloney on youtube but I think if I rewatched that now I might disagree with some stuff he says

I used to be full on gold bug until 2020 when I learned more about QE, I watched a very long detailed series from Jeff Snider and Emil Kalinowski about the banking system, what I liked about it was not only their knowledge but they barely got 3k views an episode and weren't doing it for any other reason than to share knowledge and the love of the game: https://www.youtube.com/watch?v=FowTWPULixU

Since then sadly Emil seems to have bowed out and Jeff is in bed with Steven Van Metre and everything is a bit more "youtube"

Speedy, as you know currency is debt and you need ever expanding debt to cover the previous debt and still have currency in circulation so any notion of living within means or lowering debt is not reality

Also as I have talked about to nauseum government debt is use for liquidity in the repo market so to lower that supply would be catastrophic for liquidity

In the long term yes gold will go up, but how long can the long term be? in 2011 gold was $1900 and in 2023 gold was... **$1900**

Apparently US debt went up $18.5 trillion between 2011 and 2023, so if you're right and gold price is tied to debt and currency how can it be gold was still $1900? I know the answer will be manipulation but if true what has changed to stop further manipulation

Sorry meant to post that in the "Telegraphing a gold bubble" thread

Just out of interest, how far would gold and silver need to fall before people admit they can go down and the only way isn't up?

MH01 I'm neutral not negative, I think it's still unclear

It's also a bit difficult to guess how much good news for GGP could counteract potential negativity with gold, but momentum seems to count more than fundamentals a lot of the time.

I can't imagine selling 100% but I will let you know if I sell anything 🫡

Again, I hope I'm totally wrong for doubting and gold stabilises and gets back running

I'm neutral on GGP SP for the short term, have to see what happens with gold; at the time of writing it's -2.5% and silver is -14%

I posted on December 18th

"if you look at the gold chart in insolation and the spike up over the past couple years it looks for the world like it should be due a ~50% drop and a few years of consolidation"

Ok maybe my post was a bit excessive in both amounts and time but I am becoming more open to the idea that perhaps we could see a 30-40% drop in the coming weeks/months. I wanted to believe like everyone else this was just the beginning of a massive gold bull but it did seem a bit too good to be true 🤔that a bull was just starting at 150% up

We will see what happens, hopefully I'm wrong and everyone still super bullish for gold in 2026 turns out to right.

You know you just linked an x account called crypto rick with 20 followers?

Are we open to the possibility we had the top for gold

I know gold is up today but it never just straight falls after a peak, there's always a bull trap a "return to normal"

It's why top slicing isn't the worst idea, then at least with drops you've already cashed out some profit so you're in a more relaxed position and don't feel like you're forced to react to protect anything + you have a few quid spare to put back in if you feel the timing is right.

Element I thought you were a fan of Jeff Snider?

He said in a video recently if gold is indicating there is a problem with the dollar, why aren't we saying it anywhere but in gold?

In a substack post from yesterday he gave the following examples

"Start with the claim that the world has entered a “capital war” against fiat currencies, most prominently advanced by Ray Dalio and echoed across macro commentary. The evidence usually cited is familiar: central bank gold purchases and selective reductions in official Treasury holdings. Yet these indicators misidentify where monetary power actually resides. The global dollar system is not defined by reserve portfolios but by private balance sheets and offshore dollar creation. On that front, there is no meaningful retreat. BIS data continue to show the dollar involved in roughly 86 percent of FX transactions, unchanged for decades. SWIFT messaging remains over 50 percent dollar-based. Treasury International Capital data show foreign ownership of Treasuries near record levels outside brief, deflation-driven liquidation episodes. These are not signs of a currency under existential threat (not even close)."

"Xi Jinping calls for China’s renminbi to attain global reserve currency status"

They have wanted something new for a long time? at least that's what they publicly say

2009 - China calls for end to dollar's reign as global reserve currency - https://www.theguardian.com/business/2009/mar/24/china-reform-international-monetary-system

2011 - China says yuan could become a reserve currency:

https://www.reuters.com/article/2011/03/03/us-china-economy-yuan-idUSTRE7220DZ20110303/