Member Info for speedymeadie

Hi Readthecandles. This is a continuation of the commodities bull run. In a world full to the gunnels of worthless paper currency, gold, silver, oil, CU, food etc etc will become more and more expensive priced in fiat, on the other hand, priced in gold, oil is approx the same as 50 years ago. Holders of physical gold/silver are protected from the currency debasement (wrongly called inflation) bought about via the creation of currency with no effort to sustain debt. The rise today is probably the "flight to safety" due to too many wars. As for the state of play on the COMEX we will not know until next Friday nights COT report, i call it "the week late news" but i suspect a short squeeze is happening. Sooner or later the SP for GGP will reflect the POG and its off to the races. ATB Speedy

Hi All. Looking at fundamentals for gold. Debt is out of control and that alone will push the POG to ATHs and beyond. Now add on the geopolitical outlook and the rush to safe haven assets will send the POG way beyond what folks think is possible. No matter where you look around the globe all you see is problems with no easy answers. I said, a little time ago, that the world needs a cheap new energy system and an end to wars. Unfortunately the opposite is happening with energy becoming more and more expensive and wars breaking out all over the shop. Worrying time are directly ahead. ATB Speedy

@Dawn Shay. I cant see you getting away with that. Ace will reply and then sum.

Hi All. A massive increase in the amount of ggp stock on loan (+14 million). Whilst there are several uses of on loan stock the main use, by a country mile, is for shorting. This increase means the shorts are desperate to keep control. Not sure if they can achieve that goal. When game changing news hits the rush to go square will be fun to watch. ATB Speedy

Poopy

Hi Poppy. I could not agree more, toffers has worn through the floor boards. ATB Speedy

Hi Toffers. Have you never heard of "leveraged" buy out. If something is worth X it is fairly easy to raise a good % of that. ATB Speedy

Hi Tig. I am not going to get involved in your "debate" with SAS, but the Line " slug on heat" is the best, funniest line i have read on this BB. ATB Speedy

Hi All. Now Borrelli has stopped selling are we now at the low and will we now see a gradual rise to fair value? ATB Speedy

Hi Tig. Suppressing the supply of USA $ should be bad for the POG but this time it will cause a massive credit squeeze and then a depression. The big problem is the fact that it is too late and the only way out is to supply lots and lots more to keep the system alive or default on the un serviceable debt. Either way is and absolute disaster and disasters are usually good for the POG.

What the world needs now is a breakthrough in producing cheap energy and an end to wars, both are a long, long, way off. Your good friend. Speedy

Hi All. Higher treasury yields (40% drop in value) and a stronger $ (leading to ATHs for the POG in other currencies) has pushed the POG approx $200/oz of its ATHs. With trillions of $s debt the USA govs payments to service that debt has hit way beyond sustainable levels and the only way out is default or more QE. The decision is to be made this weekend and the USA gov will have to "shut down" if no agreement is made.

Over on the COMEX the bullion banks have managed to reduce their short position by approx 10% (only another 200k contracts to close). The banks are desperate to clear their books of the approx $40billion exposure on the short side, whilst the fed is desperately trying to keep the $ above water. This could go either way in the short term but med to long term the only way for the POG is higher, much higher. Hold your nerve. ATB Speedy

Hi all. Over on chatggp you can see the stock on loan has fallen 5% to just below 60mill. Lets hope this is the turning point. ATB Speedy

Hi All. 12p ha ha ha ha ha ha ha ha ha ha ha ha. It will be at least 13p. If an offer around that price is real i think i might get together with a few of the boys and put in a counter bid. ATB Speedy

@Freddie. You are as bad as Toffers with the "what ifs" there is no way that would happen, too much gold in the ground to leave it there. Speedy

Hi All. Many moons ago when we were in the low 20s a poster (cant remember his name) said we are headed for 5p. Everyone and his dog ( including me) called him a mad man. Well here we are looking like 5p is incoming. Never in my wildest dreams did i see this coming. The thing that gives me peace of mind about my investment in GGP is the amount of gold so far proven up and the ability of our BODs to get it out of the ground. I consider this now to be the low or at least very near. The rebound cannot be that far away. ATB Speedy

@toffers. You are akin to a dog chasing its own tail, going round and round in circles all to no avail.

We own 30% of a massive heap of gold. it matters not one jot to me weather we mine it or get bought for a "eye watering sum". Your constant ramblings achieve zero and you have the audacity to call me silly. Grow up. Speedy

Hi Toffers. Please give it a rest. All this "if this happens and if that happens". It really is a s simple as ABC, the gold will be mined and our market cap is roughly equal to a few years profit. Fill yer boots. ATB Speedy

Hi MH01. I have been stating this for ages. There is no "profit" from a higher POG through inflation. The "profit" for holders of physical gold/silver will come when the fed/$ is forced to stop controlling the POG with paper trades. This is happening now with the COMEX having to deliver more and more gold to traders standing for delivery. There will come a time when the liquidity providers say enough is enough and stop the trade, that will be the end of the COMEX and the end of the fix. When, not if, that happens the re rate will be "eye watering". The death of fiat will follow and the return to sound money will complete the cycle. ATB Speedy

Hi Strudel. I agree, always fun in the Cheese, meeting new people and putting faces to names. As for the salmon i prefer to wait until its wild salmon season. Having caught and cooked wild salmon i can highly recommend it, makes farmed salmon seem bland, limp and tasteless. ATB Speedy

Hi Ace. and i will eat my crombie. ATB Speedy