Is Bo Polny Changing His Tune or is Gold’s Next Stop Still $2,000?

Gold analyst Bo Polny has been predicting since May that gold will trade at $2,000 in 2014. 
In the wake of the latest smash to $1225, is Bo changing his tune and will we soon see gold place a new low below $1180, or is gold’s next stop still an astonishing $2,000/oz with only 3 months remaining in 2014?

Click here for Bo Polny’s latest on whether gold is still headed to $2,000/oz in 2014:

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The dead ITV variety show, the revived Greatest Show on Legs and grave laughs


“The East Germans want so much to open up and we opened them a bit. They’re ready for a lot more of this” Read my latest daily blog in full here

• SO IT GOES – John Fleming’s Blog

Is Risk-On About to Switch to Risk-Off?

Cranking markets full of financial cocaine so they never correct simply sets up the crash-and-burn destruction of the addict.

Human memory being what it is, almost three years of risk-on euphoria has created the illusion that risk-on is The New Normal that will continue on for years to come. Perhaps, but there are converging signals that suggest the risk-on trade is about to reverse polarity to risk-off. These include:

Read more ›

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“I Want To Be Diversified, I Want To Own Some Gold” – Faber

“I Want To Be Diversified, I Want To Own Some Gold” – Faber

Veteran investor Marc Faber, author of The Gloom, Boom and Doom Report, reiterated the need for gold in a diversified portfolio when interviewed last week on CNBC.

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Gold – Watch the €1000 Level

Gold – Watch the €1000 Level

McClellan Financial Publications, Inc
Posted Sep 15, 2014

Gold is still in a downtrend, if you examine a chart of gold prices measured in dollars. But gold in euros looks much stronger, and that’s actually a bullish condition, eventually.

People often ask at what dollar price is gold likely to find support or resistance. But it can be argued that the dollar price of gold is not very relevant for a lot of the old-school technical tools. The static price levels of prior highs and lows do not generally show much significance as support or resistance agents once they are reached again.

The big reason for this is that gold is traded around the world, and in every currency. So what might look like an important support or resistance level on a dollar-based chart could look totally different in another currency. The whole point about why prior price levels can act as support or resistance is based on the principle that traders remember buying or selling at those prices. So when that price is encountered again, a trader who thought it was a good place to buy is likely to do so again, if he has any money left.

But that factor gets diluted when gold trades all around the world. Seeing the dollar price return to the level of a prior high or low might not spur any reaction at all from a trader who operates in another currency.

The chart above shows gold priced in both dollar terms and in euros. They are obviously similar, which is what we would expect. But when there are differences, then those differences can be instructive. I have found that when the two plots disagree, it is usually the euro price plot that ends up being right about where both are headed.

This can take the form of simple divergences, or the breaking of a trendline earlier or later than the same trendline in the other plot. There are 3 pairs of dashed trend lines drawn in that chart, and for the first two the euro price of gold broke the trendline before the dollar price, giving us an earlier warning about a change in trend. The most recent line has already been broken on the euro price plot, but not yet on the dollar price plot.

Perhaps more important, the euro price of gold seems to be encountering overhead resistance at around the €1000 level. Round number resistance is nothing new; we saw it quite extensively at Dow 10,000 (remember the hats?). But a gold trader who only thinks in dollar terms would miss that insight. Read more ›

David Cameron: portrait of an a******

The weekly, free @start_coin giveaway on @StartJOIN adds up both coins you’re holding and coins you are pledging for projects.

Tommy Sheridan and Andrew Neil on Sunday Politics

Sign at ” British Bias Corporation ” march today: sack Nick Robinson the Liar

VIDEO: Debt – There’s Just Too Damn Much Of It


The fundamental failing of today’s global economy can be summarized simply: Too Much Debt

We have taken too much of it on, too fast, in too many markets around the world, to have any hope of making good on it. Not only does the math not work out, but also on a moral level, we are placing a tremendous obligation on future generations that will unfairly limit the prosperity they can enjoy tomorrow in order to finance our consumption today.

In the US alone, total credit market debt stands at over $57 trillion and is doing its damnedest to continue expanding exponentially. Since simple math shows us that this debt level cannot be supported, the key questions to ask at this stage are:

Will the unsupportable debt disappear via default, or inflation?

And very important:

When these debts do disappear, who will take the losses?

Click here to watch the 14-minute video

World War I, Cambodia and beheadings


“If you were the family of the victim, you would want to – almost feel compelled to – watch the video of the beheading.” Read my latest daily blog in full here

• SO IT GOES – John Fleming’s Blog

BBC cutting feed because of Yes Voter

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