They do keep raising the requirements for margin on the metals..last I heard it was 25% for gold and 30% for silver.
If I'm not mistaken in 1980 it went to 100% to kill the rise. So if i have 30,000 in cash I can buy 100,000 in silver...if they raise margin requirements to 50% I need to raise 20K overnight or sell...
Can you explain that Joe?
ReplyDeleteGood morning btw. :)
ReplyDeleteAre they disallowing margin in commodities?
Seems like that would be a good idea for stocks too.
I think Joe is just being carcastic in order to mock Axstone and his followers. I bet they are bitching over at GIM. I'll go check right now.
ReplyDeleteThis was expected a run from 900 to the 950s should surely have a pullback. I would even expect we dip below 900 again before making new highs.
I dont think it was sarcasm Peter.
ReplyDeleteI stumbled in the kitchen after waking up late. It didnt hit until after I posted.
It will certainly drive the pog down a bit. Interestingly, oil didnt get hit much.
They do keep raising the requirements for margin on the metals..last I heard it was 25% for gold and 30% for silver.
ReplyDeleteIf I'm not mistaken in 1980 it went to 100% to kill the rise. So if i have 30,000 in cash I can buy 100,000 in silver...if they raise margin requirements to 50% I need to raise 20K overnight or sell...
mdp