...And $45

Tyler Durden's picture

From $44 to $45 in 13 hours. At this rate $46 in 6.5 hours. Thank you Chairsatan Benzebub.

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slow_roast's picture

Dragging gold higher by the scruff of the neck too!

spiral_eyes's picture

your god is made of paper, dr. bernanke

Dr. Richard Head's picture

The Federal Reserve it is explodin',
violence flarin', paper a loadin',
you're poor enough for debt with wages fallin’,
you don't believe in debt, what's that credit card you're totin',
and even New York City has derivatives floatin',
but you tell me over and over and over again my friend,
ah, you don't believe we're on with fiat destruction.

Dyler Turden II Esq's picture

very good start, which stimulated this attempt:

M1 and M2, they are explodin',
The Fed's printing press, it is a smokin',
you're poor enough for food stamps, with prices risin',
you say "no blood for oil", but what's that SUV you're drivin'
while banksters and criminals, they are a thrivin'
and you tell meeeeeeeee, over and over and over again, my friend,
ah, you don't believe, we're on the eve of dollar destructionnnnnn.

writingsonthewall's picture

...except the economics of Friedman say that you can control the Economy by controlling the money supply - but the money supply has been expanded in order to stifle the out of control economy.

It's laughable that Americans don't want a depression - but they don't like the devaluation of their Dollar.

It's slightly contradictory don't you think? Called having your cake and eating it.

Friedman was wrong, he's trying to diagnose the cow's teething problem by looking at it's rear end. The money supply is a reflection of the economic situation - not the cause of the economic situation.

I presume this was simplified for comedy value.

nmewn's picture

My, but you're a busy little six week old beaver.

I'm not sticking up for any monetarist...but Friedman never envisioned this suicidal scale of Bernanke "money creation", not "supply" to keep up with expansion...what we are witnessing is pure Fabian socialism brought to you by the J. Maynard Keynes University of Statists...Friedman was a lot of things but he was not a socialist and he was against even having a Federal Reserve to provide socialists with "funds", but that was a political fight, not a monetary one.

Check your vet first there Bucky...but the trick to diagnosing an animals malady is to recognize what kind of animal your dealing with first ;-)

rsi1's picture

ZH Will you also monitor it with a post for every point it loses? or that will not be covered because its of course manipulation if it does?

Thadeous's picture

It's called correction and it's perfectly normal in any bull run.

rsi1's picture

We shall see.

As soon as there is a Comex margin rate hike, I can see already the calls that it is all manipulation to bring the price down, while a hike is perfectly normal value of the contract goes up with the price...

Iam_Silverman's picture

"As soon as there is a Comex margin rate hike, I can see already the calls that it is all manipulation to bring the price down, while a hike is perfectly normal value of the contract goes up with the price..."

Except, as far as I can tell, that hasn't worked to lower the price for more than just a few hours anyway.

I do understand what you are saying, and I am sure that there are those here that appreciate your call of irrational exuberance in the PM pits.

Chuck Walla's picture

The Benron - PBoC call is seriously funny!

DoChenRollingBearing's picture

I guess I can wait a few more days before I exchange some silver for gold.

But, at some point I will.

Although I am now off to read the Sprott post re GSR to single digits.

tekhneek's picture

LOL.

Exchange your gold for silver before the ratio drops another 20 points. Don't be a dork.

Smu the Wonderhorse's picture

Silver going stratospheric.  Jim Rogers is standing behind me whispering, "Remember thou art mortal."

fuu's picture

That was a pretty fast -$1.20.

Treeplanter's picture

The usual suspects are busy shorting the miners.  Incredible lack of movement up.  Lot higher when it ran up to near 41.

Don Birnam's picture

...In addition, the red-headed coinage stepchild: copper is modestly higher.

mick_richfield's picture

How does one invest in ( ahem ... modest quantities of ) base metals ?

I have seen copper ingots or bags of copper pennies for sale.  I wish I could find ingots of nickel or tin ... but it seems like they are not out there.

tmosley's picture

Open a scrap yard.

Seriously, any other method is just a way to get ripped off.  Shipping is too much on that crap.

Chuck Walla's picture

Find an empty house, preferably a BofA foreclosure. Look for wiring and water lines. Bingo! Instant wealth! The American Dream.

BrobamaReds's picture

QEEEEEEEEEEEEEEEE!   Here, Pig, Pig, Pig, Pig.......

Tail Dogging The Wag's picture

I went to bed with $44 and woke up with $45

Talk about serial one-night-stands!

 

Cinfultreat's picture

aaaaaannnnnndddd it's GONE!

Cash_is_Trash's picture

The 3X inverse Silver ETF (that Robo has his nest egg in) will do that to ya

Robot Traders Mom's picture

Robot Fucktard has no money. Nothing. He is a kid.

ArgentDawn's picture

South Park vs Cafe Del Mar (Johannes Dahlberg Financial Crisis Mash)

 

http://www.youtube.com/watch?v=4TlPo0yCSa4

Matxeu's picture

'this line is for bank members only'

Temporalist's picture

I just linked that video again...didn't see your post.

Doc's picture

Up up and away bitches!

bob_dabolina's picture

Time to hike margin requirements....again

Double down's picture

I almost had a heart attack yesterday.  The PSLV has a premium north of 25%!

Mark McGoldrick's picture

Yep.  Sprott is a smart guy, and he knows that silver worshippers are like evangelicals - you can tell them anything and they'll usually believe it if it fits within their rigid ideologies.  The most extreme example of this is the "price doesn't matter" bullshit. Imagine selling a product to a group of lunatics, and you've convinced them the price doesn't matter.  Amazing! 

Through conspiracy theories and hyperbolic press releases, he's convinced all the silver goons to pay 25% premiums for his fund - while, at the same time, filing to sell all of his shares (page 113):

http://www.sec.gov/Archives/edgar/data/1494728/000104746911001913/a22025...

*LOL*

 

 

 

Bay of Pigs's picture

Sorry your short positions aren't working out for you.

LMAO.

Temporalist's picture

Holy shit who is more rigid and dogmatic than you?  If you need an answer it's because you're as dense as you are convinced of your own blind beliefs.

ColonelCooper's picture

Better zip up your fly, I see a school girl coming.

NOTW777's picture

thank you very much

TruthInSunshine's picture

The proper context by which to comment is one of tragedy.

Bernanke is either a) wholly incompetent or b) criminally motivated. Either answer should put the fear of God in every American.

Most every bubble now being produced via his actions will soon become a new crisis for entire classes of citizens and investors.

Ask your friends and neighbors one simple question if they are confused about the events of today:

Why does the U.S. Government borrow money from a private bank, known as The Federal Reserve Bank, and pay it interest on the money borrowed?

Arkadaba's picture

Most important and unasked question.

MachoMan's picture

If the U.S. is going to backstop the banking system, then it makes no sense for it to pay interest to the banking system...  if the banking system was truly independent (read: not a welfare queen), then I could at least entertain the possibility of an argument in favor of paying the interest...  but at this juncture, it makes no sense...  nor can it given any prospective life gained by the banking system was the direct result of the government's (read: taxpayers') backstop.

TruthInSunshine's picture

 But, do we print our currency in the United States?

That's not as simple a question as it may appear at face value.

If we do, why do we need to borrow it from a private bank and pay interest upon the loans?

If we don't, what does that imply?

MachoMan's picture

If we don't that implies we have the world's reserve currency...

And we need an independent banking system to help eliminate political machinations from control of the money supply...  the problem of course, is that like virtually all predominant economic theory, it works on paper and amonst the other assholes to agree to hold all other assumptions equal, but fails miserably in the real world.

A Man without Qualities's picture

"Bernanke is either a) wholly incompetent or b) criminally motivated."

I know most people on this site tend to go for option b, I think it's a bit of a, plus some Stockholm Syndrome for good measure.  Bernanke is not a confident guy and seeks approval from those around for support.  The banks have got him boxed into the corner, all the while telling him QE was good, QE would help the recovery, don't worry about a bit of transient inflation, sell some puts, nobody will dare fight you, the Fed.  

Now, he's probably too busy fighting the daily fires to think about how we got to this position, but make no mistakes, the Fed has been the architect of its own demise as they have turned themselves into the supreme bad bank and the currency is starting to show the strain.