PRX 0.00% 0.4¢ prodigy gold nl

No amount of faith, is going to make traders interested in ABU...

  1. 494 Posts.
    No amount of faith, is going to make traders interested in ABU only production results in a few weeks time.

    ABU can only prove its worth by bucking the current anti gold market trend, through going into proven profitable production, which they will do when other gold players are going out of business.

    If you can do that in the worst of times, you will be a darling in improved gold sentiment times.

    You need a strong stomach to be in Gold right now. No short term gain here, you need to wait for proven production. The volume of shares traded the price is easily pushed or shorted down.

    The whole Gold sector is negative and waiting (for ever) on FOMC chair Janet Yellen to indicate a definite US interest rate rise and the resulting Gold sell off and US stocks nose dive.

    But rate wont rise fast or high, the US stock market is full of borrowed QE 123 cash.

    Gold short sellers are out in force, expecting the resulting drop in the US gold price, what ever she says.

    Until the US rates are raised every time the market expects a possible US FED rate rise but does not get one Gold is sold off even more.

    I would say over sold (but that is no comfort) or at least the real drop in Gold is factored in to the market, despite the inevitable market over reaction once a US rate rise is actually indicated and made.

    The resulting nose dive in US stocks, will also no doubt cause the US Fed to sell off ETF paper gold, to stop people pulling money from US stocks and to try to dispel Gold as a safe haven in times of fear factor.

    But the money will flow to other stock markets with QE like Europe.

    Every other country is trying to devalue right now through QE to become competitive.

    The reversal of the US economy, will then no doubt evoke a QE 4, else they will wake up and realize that you don't solve a debt problem by paying debt with three times more debt.

    If you cant afford it don't buy it!

    I have had my confidence in the worlds financial system severely shaken, with this new age Lloyd Blankstien, Guytner, Paulson, Obama never never plan.

    The world is a much worse place not letting failed institutions have the failure they deserve.

    No one has confidence, in a failed and saved institution, what ever the cost of failing might have been.

    This is the sham the save my ass and save my personal fortune bankers sold to Obama.

    We would have paid for it if they failed but would have had a quick recovery.

    We are paying for it any way to save them failing, but now its for decades life times if not decades.

    Roll on US elections and vote the republicans in, we might then get some Reganomics and Thatcher style financial balls in power!

    and a US FED ROn Paul driven, Audit and resulting cleanout, with some big heads rolling.

    Then the republicans can start with a clean slate. (one more year fingers crossed)
 
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