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hari seldon
Joined: 05 Dec 2004
Location: Incheon
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 Posted: Fri Oct 24, 2008 12:13 pm Post subject: |
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| seosan08 wrote: |
| Hell, just buy gold now that it's still low! There's a HUGE price disconnect between paper (Comex) and the real world. And it's going to only grow. $1200 gold by Christmas, $2k-$3k by 2011 at the rate things are going. |
Why would anyone buy gold when it's dropping? 
http://www.bloomberg.com/apps/news?pid=20601081&sid=aTJkKKCqOxn0&refer=australia |
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hari seldon
Joined: 05 Dec 2004
Location: Incheon
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| Posted: Fri Oct 24, 2008 12:15 pm Post subject: |
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| bassexpander wrote: |
Korean won is at 1,363 to the dollar.
I figured it would start dumping again after the last big Korean gov't help announcement. |
And now it's headed down again.
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Last edited by hari seldon on Fri Oct 24, 2008 12:17 pm; edited 2 times in total |
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cheeseface
Joined: 13 Jan 2008
Location: Ssyangnyeon Shi
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| Posted: Fri Oct 24, 2008 12:16 pm Post subject: |
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Lol, I have over 60,000 US in a bank account in Jamaica......
Three more months and I triple my investment  |
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Tobias
Joined: 02 Jun 2008
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| Posted: Fri Oct 24, 2008 3:51 pm Post subject: Ding |
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| hari seldon wrote: |
....
It isn't in China's interest to allow the dollar to erode. |
Bingo. The dollar will appreciate over the next year. |
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Tobias
Joined: 02 Jun 2008
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| Posted: Fri Oct 24, 2008 4:01 pm Post subject: Four letters |
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| waltjocketty wrote: |
....there are legitimate stories in papers like the LA Times reporting that people have been lining up at banks to collect their savings and are leaving with checks for 80% of their savings.
.....
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Sounds like the writers of those stories left out some key information. This COULD be happening, if the depositors were idiots, but we don't have anything to worry about. "We" being the average TESOL grunt. Sure, some TESOLers are stupid, no doubt, but they aren't so stupid they will deposit money in an unisured bank. At least we hope not.
Perhaps the depositors being referred to were ESL students who never did homework while studying English, so they didn't know what the letters FDIC stand for. They also didn't notice their 'banks' lacked that little FDIC decal on the front door.
Let 'em burn if that's the case. Somebody has to lose in this situation. Let it be the idiots who buried their heads in the sand expecting somebody else to take care of them.
Ya gotta be vigilant in the world, boy. This is true in the good times and the bad. |
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tombirner
Joined: 19 Dec 2007
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| Posted: Fri Oct 24, 2008 11:36 pm Post subject: |
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"Lol, I have over 60,000 US in a bank account in Jamaica......
Three more months and I triple my investment Laughing Laughing"
Can anyone tell me how I can put my money into a bank account in a country like Jamaica online, or without actually going there?? |
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Tobias
Joined: 02 Jun 2008
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| Posted: Sat Oct 25, 2008 3:58 am Post subject: I think this will happen |
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| The last time I transferred money to Thailand, I wired won. The won was first converted to dollars and then to baht. At least I think this is what happened. It's been a little while. |
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poet13
Joined: 22 Jan 2006
Location: Just over there....throwing lemons.
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| Posted: Sun Oct 26, 2008 5:18 am Post subject: |
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From a friend who should know....
To paraphrase...Look for a 1500won to dollar in the next few months, and then +-1000 in the next 24 months.
If the (bank) rate is better than 1450 tomorrow morning, I'll dump another 25,000US.
I was thinking about picking up a KOSPI index fund, but I think I'm going to stay in currency. I don't understand all (vast understatement) the factors that make the KOSPI...or the Korean economy tick, so I don't think I want to play in it. |
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seosan08
Joined: 10 Oct 2008
Location: Korea
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| Posted: Sun Oct 26, 2008 3:52 pm Post subject: |
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Because it's dropping, genius! The dollar isn't going to stay high long term, in bad times, people always run back to gold. But you're too smart for that! |
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bassexpander
Joined: 13 Sep 2007
Location: Someplace you'd rather be.
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| Posted: Sun Oct 26, 2008 3:59 pm Post subject: |
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Gold is dropping because so many people are buying it right now.
Will it go up later? Hmmm....
If all of these new gold providers keep flooding the market with it after people stop buying, it may drop. |
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poet13
Joined: 22 Jan 2006
Location: Just over there....throwing lemons.
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| Posted: Sun Oct 26, 2008 4:12 pm Post subject: |
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"Gold is dropping because so many people are buying it right now."
Bass...were you being sarcastic? Cause when demand is high, scarcity increases, and price goes up.... |
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sojourner1
Joined: 17 Apr 2007
Location: Where meggi swim and 2 wheeled tractors go sput put chug alugg pug pug
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| Posted: Sun Oct 26, 2008 8:01 pm Post subject: |
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Maybe the market is flooded with gold as people who need money sell it off. It's kinda like how the market is flooded with home equity debt, because people sold their house off for need of money.
It all centers around debt bubbles and the wealth changing hands where the majority of wealth is ending up in fewer hands. |
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bassexpander
Joined: 13 Sep 2007
Location: Someplace you'd rather be.
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bassexpander
Joined: 13 Sep 2007
Location: Someplace you'd rather be.
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| Posted: Mon Oct 27, 2008 12:03 am Post subject: |
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| poet13 wrote: |
"Gold is dropping because so many people are buying it right now."
Bass...were you being sarcastic? Cause when demand is high, scarcity increases, and price goes up.... |
Yeah, that came out wrong. I meant to say that we have so many more places producing it, mining it, smelting it, or whatever you call it.
I'm no gold expert! |
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Captain Corea
Joined: 28 Feb 2005
Location: Seoul
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| Posted: Mon Oct 27, 2008 12:05 am Post subject: |
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http://news.bbc.co.uk/2/hi/business/7692449.stm
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| One of the few exchanges rising was the Seoul market, which reversed early losses to close up 0.8% after South Korea's central bank cut its key interest rate from 5% to 4.25% at a rare, unscheduled meeting. |
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