claydoctor

GLD updated chart

AMEX:GLD   SPDR Gold Trust
0
GLD making its predicted turn down off the upper TL of the channel. DUST investors have done well past few days, but this mornings GLD look upward says the markets are spooked. Not sure why, Greece issue bubbling? I heard that most central banks, all except the US, are buying gold bullion, and those storing it out of their national borders in secure locations are bring it back home. Has all the looks of a cash shortage, currency debacle, run on banks, world wide... soon. Of particular interest to me is that nations have passed laws past couple years, quietly, in effect, limit the withdrawals anyone can make out of pension funds, IRA's, and bank account each year. Not just with penalties, I mean absolutely. They say you cannot have your money if you want it, only a percentage. The run on withdrawals, not just cash form a bank, but also cash everywhere could be historic. Can you say, WORLD WIDE MARGIN CALL, and with margin buying of stocks so high, could brokers actual pay out, if they too are marginning their deposits (and they are), so in effect the whole world is on margins, with 100% of your money. If ECB's are hoarding gold, paying the huge cost and the slow process of bringing it home, what would this do to gold prices.... If I have to answer, then, well stop trading, stop reading, do something else. And, if you short this market, and profit from a huge downturn, could you actually get your cash out of your broker account? Maybe a percentage, perhaps the same percentage they have in cash of all their deposits. And if this is true, who do who think will get what ever cash is available first, right, the big boys, and the individual investor will be caught flat, asking, and getting nothing. It takes an instant to make a deposit and for them to withdraw your funds from your bank, and it takes week to ten days to get a check now on a withdrawal request, so how long then? IMO, it bears a conversation at least. Remember this headline: FXCM Comments on Swiss Franc Movement - cannot meet capital requirements". This was a trailer for the feature event coming soon to a movie house near you. Always, IMO.
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