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  #11  
Old 05-10-2012, 07:00 PM
Primus123 Primus123 is offline
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Don't worry next week it'll have it's "safe haven" status back
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  #12  
Old 05-10-2012, 07:08 PM
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Dhaugen Dhaugen is offline
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Default Have we had a currency crash?!!

Sooooo....Gold is not a safe haven now?

Then it must have failed being a safe haven since if one is saying this, then, we must have had a USD collapse and a world wide financial collapse as well?

I must not be up on what is happening, someone wake me,..pinch me!

What was a (the) safe haven after the collapse I have missed?

OK,..... for me,..it's like this,

It's like buying health insurance and saying "Your health Insurance won't cover your surgury!" and I say, "really! I have not had to have surgury so how do you know my insurance is no good? My policy is paid for and up to date?!!"

or,

my Life insurance policy,...

I own PM's for WHEN we have the BIG ONE,..

It has not happened yet,....

talk to me about Gold after this takes place.

And yes,...I don't want a crash,... but IF it happens,...I will be a happy customer.

d
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  #13  
Old 05-10-2012, 07:19 PM
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harleyjohn45 harleyjohn45 is offline
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Quote:
Originally Posted by composer790 View Post
Gold is not being treated like a safe haven anymore.

People always run to the dollar now as well. !!!!!!!!!
Of course gold is the only safe haven, what has changed? Is the congress actually addressing the budget? Trade deficit of 51 billion this month, Europe in shambles, China's economy is slowing. Sure gold has dropped over the past few months, what does that mean? All markets go up and down. When the USA balances its budget and then start to take a chunk out of that 16,000,000,000,000.00 debt, then I will cash out. I hope they do clean this mess up.
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  #14  
Old 05-10-2012, 07:28 PM
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insidedealer insidedealer is offline
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If gold's not going to be valued as a safe haven, and instead stand on it's own against other assets, paper pledges called fiat from any country......I see that as a good thing, not a bad thing. I'll take gold all day over any fiat at these prices. Short-term swings will play out in the market but over time gold will prevail.
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  #15  
Old 05-10-2012, 07:29 PM
beachman beachman is offline
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Wow... someone start a JP morgan thread. This is insane. How come gold is not skyrocketing on this news?
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  #16  
Old 05-10-2012, 07:31 PM
Silver and Gold Silver and Gold is online now
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Quote:
Originally Posted by beachman View Post
Wow... someone start a JP morgan thread. This is insane. How come gold is not skyrocketing on this news?

I would have thought gold would shoot up also.

There is one over at The Economy, Banking, Markets and Global Stocks discussion group
JP Morgan Crashing, Convenes Emergency Call(1 2)


Zero hedge

The "World's Largest Prop Trading Desk" Just Went Bust


A month ago we warned that JPM's CIO office is nothing short of the world's largest prop trading desk. Not only were we right, but what just transpired is just shy of our worst possible prediction. At the end of the day, the real question is why did JPM put in so much money at risk in a prop trade because we can dispense with the bullshit that his was a hedge, right? Simple: because it knew with 100% certainty that if things turn out very, very badly, that the taxpayer, via the Fed, would come to its rescue. Luckily, things turned out only 80% bad. Although it is not over yet: if credit spreads soar, assuming at $200 million DV01, and a 100 bps move, JPM could suffer a $20 billion loss when all is said and done. But hey: at least "net" is not "gross" and we know, just know, that the SEC will get involved and make sure something like this never happens again.

Last edited by Silver and Gold : 05-10-2012 at 07:36 PM.
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  #17  
Old 05-10-2012, 07:36 PM
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TwoHorses TwoHorses is offline
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So, in simple terms, what happened?

CIO? Prop trading? What is this?
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  #18  
Old 05-10-2012, 07:38 PM
Silver and Gold Silver and Gold is online now
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Quote:
Originally Posted by TwoHorses View Post
So, in simple terms, what happened?

CIO? Prop trading? What is this?


JPMorgan Hit by 'Egregious' Trading Loss of $2 Billion

JPMorgan announced Thursday that it lost $2 billion in a trading portfolio designed to hedge against risks the company takes with its own money. As a result, that segment of its business is expected to record a second-quarter loss of at least $800 million.


http://www.cnbc.com/id/47377555
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  #19  
Old 05-10-2012, 07:40 PM
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TwoHorses TwoHorses is offline
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OK, I see. Thanks for the Cliff's Notes!
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  #20  
Old 05-10-2012, 07:51 PM
stupidme stupidme is offline
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Quote:
Originally Posted by composer790 View Post
Gold is not being treated like a safe haven anymore.
It is being traded as a risk asset like stocks.
With all this uncertainty with our economy, the euro, and whats going on with greece it should be going higher not lower.

For some reason gold has lost its safe haven status and just being traded like any other asset. Stocks fall, gold falls with it.. Oil falls & gold falls with it.
Stocks go up, and gold goes up.

When will or will gold EVER go back as a safe haven?
People always run to the dollar now as well. !!!!!!!!!
I view this as baiting and some what contraversial; 5000 years should not be viewed with uncertainty.
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