Zitat
Original von Edel Man
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Die Riesenhausse steht weit weit bevor.
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Edel Man
Danke Edel Man, das ist Balsam auf unsere offenen Wunden. 
Auch Bill Cara bleibt optimistisch, auch kurzfristig. Folgender Kommentar aus seinem Blog von heute:
With the recent run-up in gold as well as the distinct possibility of a monetary policy change within the U.S. Administration, the trading rooms of Humungous Bank & Broker are now in a fire-fight to square short positions in other currencies against the USD. So this week, while I was writing about trade war (which will still be a feature of 2006 capital markets), I should have been focused on a global forex war.
The good thing about this battle to rebalance the currency books ahead of major changes to come in gold, equity and bond markets in 2006, is that it is almost over. In the meantime, it appears the USD is in free-fall against some currencies.
Still in play is the USD versus Yen (JPY), Euro (EUR), and Swiss Franc (CHF). As I see it, the Canadian Dollar (CAD) became rebalanced mid-day Wednesday, and the British Pound (GBP) has been square since early Tuesday. Today (overnight), the Australian Dollar (AUD) squared up.
This situation, which is most disconcerting to us traders who are not involved (as it clearly affects equity and bond markets as well), was started in my view when the U.S. Administration went too far in encouraging a strong USD, which was/is needed to assure the continuing reliance on foreign buyers of U.S. debt. You see, the U.S. debt situation is right out of control, and if foreigners don’t buy that debt, then interest rates in the U.S. will have to move sharply higher, which would send the U.S. into a sudden recession.
So traders in the big bank trading rooms spent much of 2005 short positions in foreign currencies against the USD, which created the problem in forex markets because the economic fundamentals (CPI/PPI/M3) did not support it.
The game came to an end after gold decoupled from the USD, after global traders in gold decided they didn’t care how strong the USD was going to get, they wanted gold. As soon as gold started to rocket higher in the 2H05, it was inevitable that sooner or later the longs in the USD had to reverse their positions.
Some couldn’t wait. To wit: Warren Buffett. Berkshire Hathaway has taken one of the largest losses in forex history in 2005 after being massively short the USD, against the decision of Humungous Bank & Broker to play the USD long this year. Warren, in desperation opted to quit the short Dollar trade, and when he did the transfer of wealth from Berkshire Hathaway to the big banks was complete.
I believe that as soon as the USD longs and Yen and Euro shorts are squared in the next few days, there will be a very big move up in gold.
![Freude :]](https://goldseiten-forum.com/wcf/images/smilies/pleased.gif)
In fact the next bull move in gold, as I see it, will be bigger than the one that started in the second week in November taking spot gold from $455 to $535 (almost +18 pct) in five weeks.
That move will coincide with the forthcoming international discussion that will focus on the serious problem in U.S. credit markets (individuals as well as government debt) and the downfall of mortgage-backed securities.
So just when gold “experts” and Elliot Wave Theory “experts” are telling the world they know that gold is headed back to the low 400’s, it is my call that precisely the opposite is going to happen.
I believe the next move in gold will be to $600, and then within a couple years to at least $1,000.
This morning gold (the near contracts) is about $506, down -$3.50, which is a decline of about 5.5 pct since gold hit its high last weekend. As the market in forex is so chaotic today, it is impossible for traders to confidently forecast a near-term cycle bottom in gold. But I think it is close at hand.
The 5-day charts of the USD priced in the major foreign currencies, from Yahoo Finance, are printed below. The moves are shocking. Fortunately, the big moves are almost over in forex markets, and then the price of gold will be free to move to its own level, which I believe will be much higher.
As a tell tale of the move in gold, I will be watching the CHF:EUR pair. When the Swissie outperforms the Euro (and the Pound), then Europeans are showing their discontent with money supply growth in Europe as measured against what they perceive what money is being used for (which in this case would be for uses other than wealth creation).