Member Info for speedymeadie

Hi Ben. I have been a investor in the gold market for over 50 years and i can tell you without a shadow of doubt that the gold market is bent. I do not just mean the COMEX and LBMA but the whole of the industry is under the thumb of JPM et al. The gold producers will not fight their corner for fear of finance being pulled. JPM and Blackrock rule the world and with a large discovery such as Hav will want as much profit from it as is possible. JPM are not shorting GGP for trading profit, there is an ulterior motive and all will be revealed soon. In suggest we roll with the punches and await our day. ATB Speedy

Hi All. Have just sold all my physical gold/silver and GGP stock and purchased gilts and treasuries and some USA$s. I woke up in a cold sweat, it was the worst nightmare ever. ATB Speedy

Hi Rational. Not a fan of Meat then. ATB Speedy

Hi MrEMC2. No riddle. POG is being controlled by the powers that be to try and make the $ £ yen Euro look better than they are. I have been waiting for this manipulation to come to an end for over a decade now and see no end to it yet. The powers that be are shooting themselves in the foot by keeping paper prices suppressed they are enabling the cheap purchase of physical metals but at the same time reducing the profit margin of gold producers by a significant amount. One day it will end but do not hold your breath. ATB Speedy

Hi Benrumpson. The diff between owning physical gold and owning gold mining stock is the risk factor. Owning physical gold stored outside the banking system is almost risk free whilst owning gold explorers/miners is about as risky as it gets. For me personally, at this moment in time, i use my gold as a deposit acct and sell to buy stock to increase wealth then buy gold back when the stock is sold. Physical gold is a store of wealth and gold miners are a leveraged play on the POG. ATB Speedy

Hi divvyup. Nail on head comes to mind. The derivative market in gold has increased by 500% in the last few months. The bullion banks have wrong footed the large specs/hedge funds buy enticing them to go short whilst reducing their short position to almost record lows. ETFs and many funds have no physical/deliverable gold backing their positions and are leveraged 100s to1. The first to go bust will be the 3 or 2 x short positions then the run on other ETFs will cause a default to investors and they will be paid out in worthess $s not gold.
To invest in gold it must be physical and stored at place of purchase. I have long been a loud voice on the benefits of owning gold. I must admit my timing was a bit off but anyone who says they sold at the top and bought at the bottom is either a liar or lucky. Anyone who thinks they do not have enough funds to buy physical gold should purchase a small amount every month on a regular basis.
When the bullion banks go long (almost there) against the short hedge/ managed money funds the POG will respond in a way that will surprise many folks. The other big driver will be when the FED/BOE/BIS give up on suppressing the POG and let it run to true value (do not hold your breath)
Golds rise with inflation will not be profit making, the end to the price manipulation will be where the profits are made and the more physical you hold the better. ATB Speedy

Hi All. In keeping with the subject matter, over on GGPchat there is a running daily chart showing Ortex data. The short/stock on loan position on GGP has increased to approx 84million shares whilst the SP has been rising. Make of that what you will. The shorts must either step up their efforts or throw in the towel. Or they are not bothered about a loss. ATB Speedy

Hi Tig. Looking forward to seeing you next week. What dates are you thinking of for the next Stag meet? ATB Speedy

Hi Jerry. My old bones are wiser now and i tend to take it a little easier. ATB Speedy

Hi Freddie. My post re Wishbone was not a gloat about their demise but in response to a post by BTD stating that Wishbone is a better buy than GGP. ATB Speedy

Hi Ben. You would be more than welcome. From Weybridge the drive down the A3 to Eashing Near Godalming is a pleasant 45 mins drive. We are hoping to have a meet end August, early Sept, will keep folks informed when a date is confirmed. ATB Speedy

H BTD. Wishbone 2012 250p today 11p
GGP 2012 1p today 13p
Bin that ATB Speedy

Tymers. You are an odious waste of space. Go back to your two fat ladies. I have not seen one helpful post from you. All you do is try to put posters down with your higher than you attitude. If i want to post here and on GGPchat i, and others, will continue to do so regardless of you futile attempts to stop it. May i suggest you take a break from posting rubbish and go and sit a few English lessons.

Hi Sojourner. I have seen this and have commented about it on GGPchat. My main concern is that it will be linked to derivative trading and not purely physical. Derivative trading in gold has expanded some 500% in the last few months. This is not good news. ATB Speedy

i stated

Hi Sanibel. That is exactly what is stated, but i was not ready for a fall to $1700. The bullion banks are about to go long leaving the specs short and the rise to $2500 is still on the cards by the end of this year. ATB Speedy

Hi Freddie. Maybe the regulators will achieve a victory in the USA courts and gold will attain its true value. About bleeding time to. ATB Speedy

Hi Dillon. I am sure this is a win win situation either way. If the 5% is taken for $60 mil that will put a floor (low and wrong) on the SP. If they refuse to take it up GGP have 5% more. Whats not to like. ATB Speedy

Hi Sanibel. SB has 70/75% of the biggest find in ages for a peanut price. SB will want a better ROI than paying the going rate for the remaining. I am sure we are safe from a TO from that source. But what do i know. ATB Speedy

Hi Groucho. Apologies, i should have read the thread. I agree, Newcrest would be crazy to decline, the only unknown is when they will accept. ATB Speedy