Furry
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Investing General Discussion
- Thread starter Furious
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Kithani
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Asshat Foler
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Sanrith Descartes
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Blazin
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I certainly hope we aren’t. If the market gets back on top of the 200d that will tell us something.
nothing good happens below the 200d which will soon be descending.
even if it’s a bear that doesn’t mean it has to be Armageddon but also means the low is not likely in.
even emotionally I’m torn on this , bears are nice they allow 2+ years of good returns not really worrying about markets.
to clarify it would be a cyclical bear not a secular bear so a lost 6-14 months not a lost decade
nothing good happens below the 200d which will soon be descending.
even if it’s a bear that doesn’t mean it has to be Armageddon but also means the low is not likely in.
even emotionally I’m torn on this , bears are nice they allow 2+ years of good returns not really worrying about markets.
to clarify it would be a cyclical bear not a secular bear so a lost 6-14 months not a lost decade
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Seananigans
Honorary Shit-PhD
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Wait. Given the context of this scene, I can't tell if you think a bear market is good or bad.
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Seananigans
Honorary Shit-PhD
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Borzak
Silver Baron of the Realm
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One of the reasons various people and groups have asked for an audit of Fort Knox is not just is the gold actually there, but who owns it. Meaning what if any thing did the US use as a guarantee or collateral, or whatever else that someone else might have partial ownership of some of the gold.
Haus
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It's KNOWN that other have partial ownership of the gold reserves. It was one of the things about us becoming the reserve currency had somehow also involved many countries storing gold with us. There was just a news article about rumblings that Germany might request something like 120 tons of it back or somesuch.
I dont think we will ever know the truth about Ft. Knox. Supposedly our money supply is backed by the gold standard. If it was ever to get out that Ft. Knox is actually empty, it would cause a global monetary crisis in my opinion.
If I remember correctly, the last time there was even a partial audit was in the 1970s, and even then it was just a tiny fraction audited, not the entire place.
Seems quite suspect that out entire monetary supply is based off of a gold standard, and yet no one really knows if it exists or not.
Its almost like religion. As long as people believe it exists, then it must be true and people have faith it is still there. Seeing just how our govt has been corrupted and robbed the American people over the past decade or so gives me pause to think it actually is still there.
Sanrith Descartes
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Lambourne
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Most of the foreign country's reserves are held at the Federal Reserve of New York. Bank of England also holds many countries' reserves. Dutch central bank is quite open about where it stores its gold, 1/3rd is inside the country and the rest is spread between NY Fed, Ottawa and London.
I think it makes sense for any country to store some of its gold elsewhere. Ultimately what it's there for is to sell to another country in times of crisis and if your gold is already in a country not party to a conflict you may find yourself in you can just transfer ownership there.
If an adversary drops a nuke on Ft Knox, it would make the area inaccessible to humans due to fallout even if the vault isn't destroyed. A bunch of gold you can't trade because you can't get to it doesn't do you much good.
NY Fed was at open to tours until recently. They have some real Scrooge McDuck energy going on there. Access tunnel is a 90 ton revolving door.
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Borzak
Silver Baron of the Realm
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It would be hard to get rid of the Fort Knox gold physically. The amount of gold pushed onto the market would cause issues in the gold market. Not only that the physical gold in Fort Knox is not "investment quality" grade wise meaning it would have to be melted down and refined to match investment grade gold and then be sold. It's gold but not the same % of gold that an American Eage is. So it comes down to who owns what in Fort Knox mostly.
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Asshat Foler
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Do you mind clarifying what you mean of 2+ years of good returns not really worrying about markets? Are you referring to the market after the bear market ends?
Blazin
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Yes, now don’t get me wrong traders will be full of worry but in reality there is little worry in a strong uptrend . Traders tend to fear a revisit to the lows any day now , all while it climbs away from them .
especially in the beginning because markets turn upwards around the time news is at its worst so people think it’s wrong and are too afraid to get in .
it’s not rocket surgery, want price above moving averages , you want the long term averages to be curling up and you want the ma’s stacked from shortest to longest . When that happens get long and enjoy the ride and cut out the noise
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Jysin
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That is definitely a positive start. My fear is the upcoming earnings season kicking off next week. We are likely to get a ton of pulled guidance. Aka more uncertainty.
All of that said, I am quite long on the markets already from the lows. Happy to sit and watch it chop S&P 5300 for a while and try to find a base. I really hope we aren't going to see lows again, as that is going to get a lot more panic and fear roiling markets.
While volatility is great as a day trader, this extreme range is exhausting. Seen a lot of dumb traders playing options without stops get absolutely blown the fuck up last week. Even crazier to me is people holding options overnight. The headline risk is insane. Getting trapped in options overnight (or a weekend like this) after a big headline hits and being stuck until market open is just unacceptable risk.
All of that said, I am quite long on the markets already from the lows. Happy to sit and watch it chop S&P 5300 for a while and try to find a base. I really hope we aren't going to see lows again, as that is going to get a lot more panic and fear roiling markets.
While volatility is great as a day trader, this extreme range is exhausting. Seen a lot of dumb traders playing options without stops get absolutely blown the fuck up last week. Even crazier to me is people holding options overnight. The headline risk is insane. Getting trapped in options overnight (or a weekend like this) after a big headline hits and being stuck until market open is just unacceptable risk.
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Sanrith Descartes
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