Great! Hope it was relaxing and invigorating. Now, back to work creating GSB2 so I can give you my money.
You are back? Where were you? Looks like a llama and a llama lady were in some South American looking country, but you were staring into the soul stealer. The INTERNETS. And here they are, staring back. So welcome back, Cliffski. Welcome back. It’s all good here. Your treasure is here. Your soul is here. You can run away for a moment, but you’ll always come back. Yes, welcome back. One of us. ONE OF US, FOREVER.
I made a comment somewhere here about gold price in response to some gold bug but I can’t find where it was. I just came across very plausible sounding comment that provides alternate scenario for gold bottoming out. I’ll quote it here: “I think you have missed a point. The large cost of gold storing is offset by lending gold out. Germany has lent out its gold. That’s why it is taking so long for it to get it back and return it to Germany. If the gold had not been lent and the Germans had paid for storage the gold would have been returned immediately. The nest question is why did some entity borrow gold the reason for that it is cheap to lend, the lender then sells the gold and deposits the money in a higher yielding asset. The problem is that gold has risen in price and the borrower now has a potential loss. Currently their is a concerted efforts by a number of banks to use the futures markets to push down the price of gold. This is where the banks are attempting to close out their potential loss. Meanwhile the Chinese and the Russian s are buying large quantities of physical gold draining gold from the paper markets. At some stage the paper markets which are 50 ties the size of the physical markets will default due to the lack of physical gold in the system. Hence the Swiss no strangers to the gold market want their gold back”