Nobody Has ‘Good Model’ Of What Moves Gold

[EE_]

I know this is probably a silly article to post on a Bitcoin forum...but this used to be a gold & silver site.
Should we rename Gold-Silver.US to Bit-Coins.US?

Yellen: Nobody Has ‘Good Model’ Of What Moves Gold; Investors Buy When Seeking Protection
By Kitco News
Thursday November14, 2013 11:29 AM

(Kitco News) - Federal Reserve chief nominee Janet Yellen said Thursday “nobody has a very good model” of what moves gold prices but investors want to hold the precious metal when they are worried about a collapse in financial markets and economic perils.

Yellen, nominated by President Obama last month, appeared before the Senate Banking Committee in a confirmation hearing. During a question-and-answer session, she was asked whether rises and falls in the price of gold can act as an economic indicator.

“I don’t think anybody has a very good model of what makes gold prices go up or down,” she said. “But, certainly, it is an asset that people want to hold when they are very fearful about (a) potential financial-market catastrophe or economic troubles and tail risks.

“And, when there is financial-market turbulence, often we see gold prices rise as we see people flee into it.”

After asking his question about gold, committee member Dean Heller (R-NV) said he was more satisfied with Yellen’s answer then he was with current Federal Reserve Chairman Ben Bernanke’s answer when he was asked about his opinions on gold in July.

Back in July, Bernanke told the same Senate committee that “nobody really understands gold prices and I don't pretend to understand them either."

http://www.kitco.com/news/2013-11-14/Yellen-Nobody-Has-Good-Model-Of-What-Moves-Gold-Investors-Buy-When-Seeking-Protection.html

[Twisted Titan]

THANK YOU


I saw this live during the confirmation hearing.


I almost fell outta my chair.


A jew that doesnt know why a gold shekel is valuable?

[Uncle Salty]

She is absolutely correct. How could anyone have a model. The real movement of gold is done in a dark market at prices that never see the light of day.

The COMEX and LBMA are a circus side show to distract from what is really happening among the real gold participants.

Soon all will be revealed. Until then, the price of gold means shit. There is no fucking rhyme or reason. It is distorted beyond all belief.

[Blink]

I know this is probably a silly article to post on a Bitcoin forum...]


That made me smile. Thanks.......

[chad]

the 2 heads of the fed "don't know" what moves gold? i would say ask their bosses.

[mick silver]

i really dont give a fuck what they tell me the price is . all i know is i got gold at 200.00 to 700.00 and i way ahead of most .

[MNeagle]

http://ts4.mm.bing.net/th?id=H.4718589730293887&pid=15.1&H=160&W=160

[mick silver]

silver may go below 20 bucks tonight

[ximmy]

I guess nobody has heard of price control?

Government dictated ceiling on precious metals to keep up the appearance of a sound dollar.

[Hypertiger]

The limited supply of gold in relation to the demand for yield by billions of mindless yield locusts is what drives Gold...

[Hypertiger]

In 1944 the US Dollar was made the global trade medium of exchange that all the other currencies of the world were fixed to...making them derivatives of the US dollar.

the gold market is regulated due to the fact that while the US Dollar makes up 25% of the global credit supply...the other 150 Trillion dollars of non US dollar denominated credit is more than enough...demand...to blow gold sky high if Billions of mindless yield locusts all of a sudden got the bright Idea to consume it like starving animals.

You all have zero clue that what you all post is basically speculative nonsense based on speculative nonsense...Because you all get your information from the favorite clueless people you think have a clue.

[ximmy]

Hypertiger, for some reason you remind me of Baghdad Bob


You all have zero clue what you all post is basically nonsense...Because you all get your information from the favorite clueless people you think have a clue.

http://www.free-lebanon.net/wp-content/uploads/2012/08/Baghdad-Bob.jpg

[Twisted Titan]

The limited supply of gold in relation to the demand for yield by billions of mindless yield locusts is what drives Gold...


Limited?


There are subterannean vaults packed to the rafters that predate napoleon.


Notthing is limited when it comes to gold other then a false apperence.

[Hypertiger]

Please...The only thing that rules me is Truth...Your lies do not other than to cause me to materialize to annihilate them.

Out of sight and out of mind is the religion of the blind.

[Son-of-Liberty]

Nobody has a good model because they just manipulate it wherever they feel like it. Fundamentals are out the window for the time being.

[mick silver]

Gold Will Have Its Day http://www.thedailybell.com/news-analysis/34723/Gold-Will-Have-Its-Day/

[Hypertiger]

You want the Gold manipulation to stop?

Stop trying to manipulate it...But you are one of 7 Billion manipulators of Gold...You have to convince the other 7 Billion or so to join you and give up trying to manipulate gold into doing what you want it to do.

Good luck.

"The process by which banks create money is so simple that the mind is repelled." Chapter III, Banks .--John Kenneth Galbraith Money: Whence it came, where it went - 1975 p.18

“The study of money (Power), above all other fields in economics, is one in which complexity is used to disguise truth or to evade truth, not to reveal it.”--John Kenneth Galbraith Money: Whence it came, where it went - 1975, p15

"All the perplexities, confusions and distresses in America arise not from defects in the constitution or confederation, not from want of honor or virtue, as much as from downright ignorance of the nature of coin, credit and circulation." (Absolute capitalist economics)--PRESIDENT JOHN ADAMS

"Simplicity adds up to the multiplication of complexity into perplexity which is then divided unequally and subtracted to obtain the required yield of power the absolute capitalists want to manipulate the Universe how they desire."--Hypertiger

"The essential claim of sophistry is that the actual logical validity of an argument is irrelevant (if not non-existent); it is only the ruling of the audience which ultimately determines whether a conclusion is considered "true" or not. By appealing to the prejudices and emotions of the judges, one can garner favorable treatment for one's side of the argument and cause a factually false position to be ruled true."--Sophistry A.K.A Democracy or Truth by Popular delusion/consensus

Sophistry is the upholstery or observable chaotic noise that hides the invisible order or signal...The unseen foundation of Truth that the seen hierarchical structure of lies depends and is built upon.

[Hypertiger]

Fund a mental retardation until you reach the logical conclusion of the take more power than you give equation where the persuasion of salvation transforms into damnation and you are rewarded with total annihilation.

[Hypertiger]

The English language allows you to fall into hot water by skating on thin ice.

[Horn]

The logical conclusion is that we all create posts that look exactly like yours, and the forum fades into the infinite.