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And So Gold Is Under $10 From All Time Highs

Tyler Durden's picture





 

Remember when all "experts", pundits, and all other idiot verietals couldn't shut up how gold was going to triple digits imminently? Yes, neither do we.

 


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Wed, 02/23/2011 - 14:04 | Link to Comment camaro68ss
camaro68ss's picture

gold and silver bitches

Wed, 02/23/2011 - 14:07 | Link to Comment AN0NYM0US
AN0NYM0US's picture

Byron Wien on Bloomberg today said every portfolio should have gold and he expects it ot hit 1600 -

For a guy who has been wrong in perpetuity is this a sell signal?

Wed, 02/23/2011 - 14:10 | Link to Comment Sophist Economicus
Sophist Economicus's picture

Either that or he is today's Blind Pig

Wed, 02/23/2011 - 14:43 | Link to Comment egdeh orez
egdeh orez's picture

Bitches, Bitchez!

Wed, 02/23/2011 - 15:24 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

+1,

Bitches, bitchez!

Tomorrow gold will break from its upper support level of $1440 to $1650 in the span of the next month.  It will happen by the Spring Solstice.  There are too many problems with the dollar, with oil production, and with entitlements to stop it from happening.  That and the charts say so.

This is resistence of my upper support level of $1440.  This is gold.  Gold may be a little over rated in my book, I am much longer silver than gold, but it is monie.  Gold has silver at its back, and oil is surging on turmoil.  Also with gold is platinum, who broke out long ago.  This is the first step of the climb up, which ends by 2012....

Gold at $10k easy.

Oil at $500/b easily.

Silver at $500 easy.

Platinum at $13k.

The dollar will be made not the reserve currencie.

This is inevitable, unless people take matters into their own hands and buy silver.

From my blog:

http://lhmarketwatch.blogspot.com/

Cheerio, and beetleguise, beetleguise, beetleguise

Wed, 02/23/2011 - 16:12 | Link to Comment Zero Govt
Zero Govt's picture

Gold £10k easy, Oil $500/b easy etc etc....

...unless deflation (Credit Crunch II) hits first you mean.... then those figures are pie in the sky

I'm in Gold so don't think i haven't skin in the game... the target from here is Jim Sinclairs next milestone at $1,444, then his $1,650.... save the mega digits for now

Wed, 02/23/2011 - 16:56 | Link to Comment Pool Shark
Pool Shark's picture

 

"Paging Johnny Bravo, Mr. Johnny Bravo..."

Wed, 02/23/2011 - 18:08 | Link to Comment RockyRacoon
RockyRacoon's picture

He's dead meat.  His calls were so off that it wasn't even funny.

Leave the dead to their rest.

Wed, 02/23/2011 - 16:59 | Link to Comment tmosley
tmosley's picture

Sorry kid, there is no such thing as pervasive dollar deflation.  Only gold deflation.  Every time we have experienced deflation, we have had gold backed currency.  Every time we have had hyperinflation, we have had paper currency.  There has never been a paper currency that experienced a significant amount of deflation in the history of the Earth.

Or are you saying "this time is different"?

Wed, 02/23/2011 - 17:24 | Link to Comment DaBernank
DaBernank's picture

Gold = 2,000 SDRs

Wed, 02/23/2011 - 19:28 | Link to Comment akak
akak's picture

Every time we have experienced deflation, we have had gold backed currency.  Every time we have had hyperinflation, we have had paper currency.  There has never been a paper currency that experienced a significant amount of deflation in the history of the Earth.

Bingo, bingo, BINGO.

I never cease to be infuriated by all the deflationary flat-earthers who deny these simple and fundamental historical and monetary facts.  I was outraged when I heard the first pro-Establishment shill prattling on about the so-called "threat of deflation" a couple of years ago, and I remain convinced that anyone peddling that specious "threat" today is either clueless or is an active and willing participant in spreading pro-fiat, pro-bankster disinformation.

Thu, 02/24/2011 - 01:50 | Link to Comment StychoKiller
StychoKiller's picture

A lot of that Fiat is located in cyberspace, what makes you think meatspace rules apply?

Wed, 02/23/2011 - 14:15 | Link to Comment Michael
Michael's picture

The wealthy elite of the world are double crossing the Arab oil producers and Chinese investments. They are destroying the US currency and are establishing a one world currency. Lindsy Williams is 100% correct on the elitist plans. Inflation is going to the stratosphere. The big fight Americans must undertake is stopping our government from accepting a world currency. We must insist the US print it's own treasury money without interest and kill the Federal Reserve.

The turmoil in the Middle east is a logical progression of events unrest precipitated by the globalists using unwitting participants such as the Egyptian Google executive. This will backfire on them. The police state oppression and food inflation are the oppressive conditions that have outraged the people into action. These are logical conditions that precipitate events the globalists know they can use this to their advantage to bring about their world monetary government.This too will backfire on them. The oil companies and global elitists want to stop oil flow to the US so we are forced to open a huge quantity of crude oil and natural gas that exists under Gull Island, located in the waters of Prudhoe Bay in Alaska, in ANWR, The Oil and Gas Resource Potential of the Arctic National Wildlife Refuge, and the Rocky Mountain reserves that have been kept off the market till the elitists could get filthy rich off these assets.The US must demand large royalties from these reserves.

Listening to Lindsy Williams on Infowars radio today seems so eerily close to things I read 25 years ago in a book called, "The United States and Great Britain in Prophecy" by Herbert W Armstrong.  I'm dusting this book off now and am going to re read it.

You should listen to the rebroadcast of the Alex Jones program that will stream for the next 21 hours. Williams is on in the 3rd hour of each rebroadcast recurring every 3 hours.

This movie clip from Rollover (1981) is not so far from what will really happen.

Wall Street Silver Gold Theft and World Economic Collapse

http://www.youtube.com/watch?v=WI8dfFN7H1w

Wed, 02/23/2011 - 14:37 | Link to Comment Robot Traders Mom
Robot Traders Mom's picture

We both agree on the end game. That being said, Lindsey Williams hasn't been right about much thus far.

Wed, 02/23/2011 - 14:45 | Link to Comment Michael
Michael's picture

His track record is a documented 85% correct.

Wed, 02/23/2011 - 16:08 | Link to Comment ConfederateH
ConfederateH's picture

Michael, I heard the Alex Jones broadcast too, and I found it very provocative.  I am not sure that I believe everything that was said.  There are so many things that seem to be coming to a head simultaneously that I too am starting to believe in a OWG conspiracy.

Thu, 02/24/2011 - 00:57 | Link to Comment Xkwisetly Paneful
Xkwisetly Paneful's picture

Yep over the past 30yrs the song remains the same and the end game never changes but keep beating that drum.

 

85% accurate ROTFLMAO is that 4 1/2 times in the last 5?

Wed, 02/23/2011 - 14:39 | Link to Comment lynnybee
lynnybee's picture

i heard that entire broadcast / believe it.  ........ the Middle East goes back into the desert from whence it came ........ DELIBERATELY !  ...... just like everything that his happening to this country is DELIBERATE POLICY & PREPLANNED ........ unless, that ROAD to ROOTA guy is correct, we are all toast ......... anyone else here believe in BIX WEIR & his ROAD to ROOTA theory ?   

Wed, 02/23/2011 - 15:31 | Link to Comment Head for the Hills
Head for the Hills's picture

"We must insist the US print it's own treasury money without interest and kill the Federal Reserve."

 

Just out of curiosity, why should we trust those idiots running the Treasury?  And what difference would it make.  They are one in the same.  Bernanke & Geithner jack each other off every night.

Wed, 02/23/2011 - 15:34 | Link to Comment jimijon
jimijon's picture

Or read the Creature from Jekyll Island.

Wed, 02/23/2011 - 17:26 | Link to Comment DaBernank
DaBernank's picture

+1. My grandparents retired to Jekyll. I keep hoping there's a buried treasure by their graves ... no such luck.

Wed, 02/23/2011 - 15:48 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Rip the Rockies apart just to drive around in circles?

Bakken is shale and shale has a low EROEI.

Alaska is beautiful, and like the Rockies, destroy it to drive in circles?

Wed, 02/23/2011 - 14:18 | Link to Comment taraxias
taraxias's picture

As long as money printing is seen by TPTB as the only solution to prop up this dead ponzi system, *THERE IS* no sell signal.

Wed, 02/23/2011 - 14:25 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

+ $1410

Wed, 02/23/2011 - 14:34 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

Anyone.

I have a friend who is a technical trader.  He once told me there "ain't no such thing as a quadruple bottom (top)".

When I checked stockcharts.com and put in ticker GLD, that looked a lot like the 4th top coming fast.

I would enjoy traders' comments on whether or not the fourth one is the charm...

Wed, 02/23/2011 - 15:41 | Link to Comment pointer
pointer's picture

there used to be traders on here - and intelligent comments.  Nowadays this board is filled with one-liners and mispellings from people who should just read and learn instead of type their bullshit - then everone has to filter through it.

I am not a trader - I just read and try to make sense of it all.

Wed, 02/23/2011 - 15:47 | Link to Comment Dr. Richard Head
Dr. Richard Head's picture

I kan spel just fin thank yu.

Thu, 02/24/2011 - 08:04 | Link to Comment Tedster
Tedster's picture

Mnay popleo hvae ncotcid thta seppilng inst taht ipmroatn, rtahre, sa lngo as teh gsit fo teh msseag gtse acsrsso. I tned ot argeer.

Wed, 02/23/2011 - 15:56 | Link to Comment AG BCN
AG BCN's picture

except today

Wed, 02/23/2011 - 16:13 | Link to Comment ConfederateH
ConfederateH's picture

Robert, I see you posts often at Fofoa.  I have pretty much stopped posting there because of the freegolders paranoia in regards to silver.  Do you agree with Fofoa on this?

Wed, 02/23/2011 - 16:49 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

I go with FOFOA on the eventual rise of gold as the wealth preserver of choice.  Along with his idea of freegold to 55k.

...

But, I do not KNOW anything!  Especially the future.  Because of that, I hold a decent amount of silver too, but lots more gold ($ value).

My guess?  Silver will do just fine, and certainly is a great speculation!  Silver has a different dynamic (obviously), so silver for me is further diversification.  Mr Lennon Hendrix seems to be perhaps the "Silver Guru" here, and his opinions would be better than mine.

Who is Robert?

Wed, 02/23/2011 - 16:44 | Link to Comment ThreeTrees
ThreeTrees's picture

Three words:  "Flag and Pennant".  The technical setup is identical to the bounce at the end of July.  Don't get me wrong, there's resistance at ~140 and it may very well go check out the 20MA to fill the small gap between 134 and 136 but as long as we get a bounce we could see gold run another 12% by my conservative estimate.  

 

Disclosure:  Went Long GLD @ 130.80

Wed, 02/23/2011 - 18:03 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

Thanks ThreeTrees!

Wed, 02/23/2011 - 14:27 | Link to Comment Michael
Michael's picture

Ka Dafy is ruining everything. He was supposed to roll over just like the the rest of the Kings in North Africa and the Middle East. That was the agreement. The Global Bankster oligarchs don't have all their controls in place yet for the final phase of the collapse. They are losing control of the situation. The Internet is still too free and they can't stop it yet.

Wed, 02/23/2011 - 14:32 | Link to Comment silver_serf
silver_serf's picture

That or maybe they were dissapointed by Mubarek's weak showing at the uprising.  They prob expected much more violence (like they would do)

Wed, 02/23/2011 - 14:37 | Link to Comment willien1derland
willien1derland's picture

+100

Wed, 02/23/2011 - 14:25 | Link to Comment Pegasus Muse
Pegasus Muse's picture

Missing in action --- the FastMoney perennial gold haters:

Dougie "gold is in for a major correction" Kass

Dennis "I sold my smallish position yesterday" Gartman

Wed, 02/23/2011 - 14:26 | Link to Comment oddjob
oddjob's picture

or Dennis "I am short of brains" Gartman

Wed, 02/23/2011 - 14:28 | Link to Comment Hephasteus
Hephasteus's picture

I thought they canceled that show and came out with Fast Monkey's Fucking a Football.

Wed, 02/23/2011 - 15:14 | Link to Comment oddjob
oddjob's picture

all the good shows get cancelled.

Wed, 02/23/2011 - 14:26 | Link to Comment Cyrano de Bivouac
Cyrano de Bivouac's picture

No, in a strong wind even a turkey can fly.

Wed, 02/23/2011 - 14:48 | Link to Comment Boonie
Boonie's picture

must hijack thread for a moment.....

as someone who enjoys the challenge of hunting these wiley birds, the wild turkey flies just as well in a gale as in a calm  

Wed, 02/23/2011 - 15:19 | Link to Comment montanassky
montanassky's picture

a pig can fly. (a big fat pig can fly)

Wed, 02/23/2011 - 15:24 | Link to Comment reader2010
reader2010's picture

that means he's shorting.

Wed, 02/23/2011 - 14:11 | Link to Comment SilverRhino
SilverRhino's picture

Odd but the silver rise is much smaller than gold today.

Wed, 02/23/2011 - 14:14 | Link to Comment Lord Koos
Lord Koos's picture

That's because a war is going on in silver right now.

Wed, 02/23/2011 - 14:25 | Link to Comment unky
unky's picture

for sure! and its a huge war. any new informations on how the OI is and will they take delivery or what will happen?

Wed, 02/23/2011 - 16:26 | Link to Comment tallystick
tallystick's picture

It was at 30K this morning, saw it at 47K earlier, now it's at 40k.

Wed, 02/23/2011 - 14:27 | Link to Comment searcher68
searcher68's picture

Die Blythe die you douchebag whore! Keep piling on the naked shorts... you're just throwing more fuel on your own fire!! Roast in hell biotch!

Wed, 02/23/2011 - 15:42 | Link to Comment Exposer of Inte...
Exposer of Internet Shills's picture

it's Silver BitcheZ.  got to put that "Z" on the end to be official

Wed, 02/23/2011 - 16:46 | Link to Comment TeMpTeK
TeMpTeK's picture

Where is Doug k"ASS"" these days.....

Wed, 02/23/2011 - 14:05 | Link to Comment Lazarus Long
Lazarus Long's picture

CL is 40 cents away from 100

Wed, 02/23/2011 - 14:05 | Link to Comment Cash_is_Trash
Cash_is_Trash's picture

Brent rises concomittantly

Wed, 02/23/2011 - 14:06 | Link to Comment drink or die
drink or die's picture

This chart reduces my blood pressure, which was very high after reading Timmy's comments in "Bloomberg"  (It was really from The Onion, right?   Right???).

Wed, 02/23/2011 - 14:07 | Link to Comment Caviar Emptor
Caviar Emptor's picture

Gold is more geopolitically sensitive of the PMs.

It's also geared to dollar weakness and the related issue of global reserve currency status

It's where big money goes to hide.

Silver will do well but remember it's value is also tied to perceived industrial demand which may be a bit clouded now if the economies slow

Wed, 02/23/2011 - 14:11 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

The fact that Gold has taken over the front running spot from Silver today tells me sanity is alive and well in the PM pit.

Wed, 02/23/2011 - 14:30 | Link to Comment SPONGE
SPONGE's picture

It tells me that Blythe is working overtime.

Gold is golden but silver will continue to outperform  until the  gold to silver ratio is reduced to the historical mean. Global unrest will cause gold to outperform periodically.

Wed, 02/23/2011 - 15:20 | Link to Comment apberusdisvet
apberusdisvet's picture

Silver is a coiled spring under suppression pressure for 40 (or more) years.  Screw industrial demand; the price should already be over $200 due to diminishing worldwide supply.  If the average GDP worldwide should actually attain 5%, the total supply of silver would disappear.  At that point, name your own price.

Wed, 02/23/2011 - 15:34 | Link to Comment Hearst
Hearst's picture

Good analogy I agree.  Some pretty well known iddiots are again calling for a correction in the Silver price because of its recent run up.  I don't buy it.  Silver had close to a FOUR DECADE 'correction'.  Now it's time for Silver to shine.

Wed, 02/23/2011 - 15:36 | Link to Comment Fred Hayek
Fred Hayek's picture

More like about 25-28 years according to Ted Butler.  There was an interview with him at, I think, King World News where he traced the manipulation of the price of silver on the Comex that far back.

Wed, 02/23/2011 - 15:55 | Link to Comment NotApplicable
NotApplicable's picture

I just found this article, where according to analysis by Chandni Burman in Daily News and Analysis, silver will have to reach $50 before recycling it is economically feasible. The article doesn't give much detail about the analysis behind the $50 number though, but rather talks about supply and demand imbalances. In absence of this detail, I would assume, like most everything else these days is that the main factor is energy cost.

http://www.scrapmonster.com/news/silver-recycling-can-happen-only-at-pri...

Wed, 02/23/2011 - 14:07 | Link to Comment Korg
Korg's picture

Ummm...Mission Control?????  this is Apollo 13.....we have a slight problem......

Wed, 02/23/2011 - 14:07 | Link to Comment Thunder Dome
Thunder Dome's picture

YOU CAN'T EAT GOLD!

Wed, 02/23/2011 - 14:16 | Link to Comment savagegoose
savagegoose's picture

but you can eat shit.

Wed, 02/23/2011 - 14:28 | Link to Comment HoofHearted
HoofHearted's picture

+1420 per ounce

Wed, 02/23/2011 - 14:29 | Link to Comment Marley
Marley's picture

Then buy rice.

Wed, 02/23/2011 - 15:17 | Link to Comment oddjob
oddjob's picture

is there a 2X melamine ETF?

Wed, 02/23/2011 - 19:32 | Link to Comment akak
akak's picture

Rice: The other white plastic

Thu, 02/24/2011 - 02:07 | Link to Comment StychoKiller
StychoKiller's picture

When I see comments like this, I can't help but wonder just how insane we all look to someone that just showed up today at Zerohedge and doesn't have any idea that they're looking at the most truthful sarcasm ever!

Wed, 02/23/2011 - 14:07 | Link to Comment Quinvarius
Quinvarius's picture

Silver is out the top of any identifiable long term channel.  I suspect gold is going to follow it into the begining of a parabolic repricing.

Wed, 02/23/2011 - 14:08 | Link to Comment Scottj88
Wed, 02/23/2011 - 14:07 | Link to Comment Saxxon
Saxxon's picture

Gold looks really good right now in the scenario we're in.  Unlike 2008 I don't see that much running to the USD if stocks crater hard; and when (not if) the next round of bailouts starts, that will just weaken the USD more.

Our magisters have really made a mess of things but one thing they will not do is deflate.  That's my story anyway, and the way I'm betting.

Wed, 02/23/2011 - 14:10 | Link to Comment Caviar Emptor
Caviar Emptor's picture

Unlike 2008 I don't see that much running to the USD 

 

Exactly. The trend began yesterday. Key divergence

Wed, 02/23/2011 - 14:56 | Link to Comment MachoMan
MachoMan's picture

the PM decoupling has been prevalent for a long time...  we're just getting confirmation now there is an objective "risk off" event... 

Wed, 02/23/2011 - 18:15 | Link to Comment RockyRacoon
RockyRacoon's picture

Nice.  Waiting until the trend is established and then predict it.

Wed, 02/23/2011 - 14:08 | Link to Comment silver_serf
silver_serf's picture

But Moodys said it was Japan that had a negative outlook!

Wed, 02/23/2011 - 15:39 | Link to Comment Fred Hayek
Fred Hayek's picture

I'd take risk evaluation from the Moody Blues before I'd listen to Moody's.  Go Now, ratings agency.  Go Now.

Thu, 02/24/2011 - 02:09 | Link to Comment StychoKiller
StychoKiller's picture

They're just some singers in a rock'nroll band! :>D

Wed, 02/23/2011 - 14:08 | Link to Comment jus_lite_reading
jus_lite_reading's picture

WTI OVER $100!!!

HOLD ON BOYS!!!

CHINA IS ABOUT TO SPILL THE BEANS ON THE EU/UK/US bond holdings..

Wed, 02/23/2011 - 14:08 | Link to Comment Harmonious_Diss...
Harmonious_Dissonance's picture

For those investing in Gold, you need the precious metals insurance policy. This is now a good time for diversification. Make sure to have PLENTY of copper-jacketed lead.

Wed, 02/23/2011 - 14:17 | Link to Comment Overpowered By Funk
Overpowered By Funk's picture

And like any insurance policy - let's hope you don't have to use it, but it certainly feels like the shit is getting deep.

Wed, 02/23/2011 - 14:40 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

I share the feeling of impending doom.

Of course I have felt the same way since Jimmy Carter.  Perhaps the Bearing will be right one day...

Wed, 02/23/2011 - 18:45 | Link to Comment Gold 36000
Gold 36000's picture

You sound like a permabearing

Wed, 02/23/2011 - 19:33 | Link to Comment akak
akak's picture

Now THAT was witty!

Very nice.

Wed, 02/23/2011 - 14:09 | Link to Comment Sophist Economicus
Sophist Economicus's picture

Paging Bob Prechter...Angry subscribers in lobby

Wed, 02/23/2011 - 15:05 | Link to Comment Eternal Student
Eternal Student's picture

Hey, now. He said he was sorry (to his subscribers who missed out on the most recent bull run in stocks these past 6 months).

Surely that should make up for everything?

 

/sarcarsm

Wed, 02/23/2011 - 14:09 | Link to Comment Caviar Emptor
Caviar Emptor's picture

Gold is the perfect hedge right now.

The dollar is no longer flight to safety. Bonds? The 5 year auction just came in very weak. Bonds selling. 

Suddenly the world of flight to safety is narrowed .

 

There's the potential now for big geopolitical events and gold is the perfect place to be

Wed, 02/23/2011 - 14:10 | Link to Comment NOTW777
NOTW777's picture

wheres doug kass - time for a fast $ appearance

Wed, 02/23/2011 - 14:13 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Under the bridge I found...I could not get enough!

Wed, 02/23/2011 - 14:11 | Link to Comment lieutenantjohnchard
lieutenantjohnchard's picture

oh, i remember the varietals quite vividly. a few of the sperm whales were spouting off within the last week, one yesterday, about an imminent collapse in gold and silver which would wipe the smile from my face.

Wed, 02/23/2011 - 14:12 | Link to Comment Dr. Porkchop
Dr. Porkchop's picture

Fall apart is a bitch

Wed, 02/23/2011 - 14:13 | Link to Comment mshorr805
mshorr805's picture

Can someone tell me if you cannot eat gold, then why are the ag's getting their asses handed to them in this geopolitical mess?

Wed, 02/23/2011 - 18:18 | Link to Comment RockyRacoon
RockyRacoon's picture

They took their profits out of the edible commodities and decided to trade their fiat profits for real money.   A no-brainer.

Wed, 02/23/2011 - 14:13 | Link to Comment etrader
etrader's picture

The EW crew will be correct with their Gold $200 call....

The trouble is it will be priced in "New dollars" ;-)

Wed, 02/23/2011 - 14:14 | Link to Comment surfersd
surfersd's picture

Everyone quick looking at WTI and start watching spot Brent. The storage issues is Cushing are keeping WTI $12 under brent. In fact WTI is $10 under Gulf Coast LLS (Light Lousiana Sweet) whic is a comparable crude to WTI and Brent.

Fundamentals for crude not good, but it is tough to be short if Libya shuts down. 800K is already turned off.

Saudi Day of protest is scheduled for March 20th. Don't be short on the 19th.

Silver bitchez

 

 

Wed, 02/23/2011 - 14:29 | Link to Comment jus_lite_reading
jus_lite_reading's picture

Holy Moses! Just as I predicted on the 14th- "Silver to $40-$45 in 3-4 weeks"

My next prediction is the EU will disintegrate very soon as Brent passes the $125 threshold. So much for the EURO being as safe as the USD!

Axel Weber now seen fleeing in his minisubmarine to the coast of Norway.

Get out of stocks NOW before you can't sell. The stand comes in a few days boys. Supernova.

Wed, 02/23/2011 - 16:38 | Link to Comment Andy_Jackson_Jihad
Andy_Jackson_Jihad's picture

Even miners?  All green for me today.

Wed, 02/23/2011 - 14:16 | Link to Comment Caviar Emptor
Caviar Emptor's picture

 

The worry is not so much about Saudi Arabia and its king. No. The worry is about the fate of Saudi Aramco. It's the heart of darkness to the Saudi people because it not only saps their oil wealth and diverts it to the West, it put the royal family in power and supported the modern state of Saudi Arabia from its British roots. It was the love child of Rockefeller, Texaco, and other extreme right wing concerns. It supported Hitler

If Aramco is nationalized or taken down in any way, the built in oil discount that the US has enjoyed over the rest of the world evaporates. Then you'll see gasoline jump by a factor of 4 to equal prices paid in Western Europe

Wed, 02/23/2011 - 14:42 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

Caviar, I think Aramco was nationalized, the Saudis paid Exxon, Chevron, Texaco, etc.  That should be easy to check on wiki or Google.

EDIT:

I could not get it pasted in here, but wikipedia says it is state owned.

Wed, 02/23/2011 - 15:25 | Link to Comment GoinFawr
GoinFawr's picture

I think by 'state owned' he means pwned by a state that is not ruled by oligarchs loyal to their US based contemporaries.

Wed, 02/23/2011 - 14:16 | Link to Comment Campagnolo
Campagnolo's picture

when gold pass the all time high, silver will reach $40 oz., then by June, or before, gold will go to $1700 (22% up increase), silver will cross $55...wow, enough to say..oil right now at $100..and still more than 90% population dont get it...prepare accordingly...I can talk from my own experience....lived Chile of the 70's and Argentina of 2000, I know what recession/depresion is, good lucks guys.

Wed, 02/23/2011 - 18:44 | Link to Comment Gold 36000
Gold 36000's picture

Ferfal?  Is that you?

Thu, 02/24/2011 - 02:13 | Link to Comment slvrizgold
slvrizgold's picture

Wow you lived in Chile in the 70s and Argentina in the 2000s.   Hyperinflation is following you around isn't it.   Did you ever live in Zimbabwe?  Were you born in Germany during the Weimar?

Thu, 02/24/2011 - 03:32 | Link to Comment Campagnolo
Campagnolo's picture

Chile and Argentina is enough experince...how much experince do you have american boy?, none for sure...and that's part of the problem here, not only the goverment but their citizens, which in this case people have become lazy and ignorant...A mexican (or any other hard life inmigrant) guy can easily survive here, I wonder how many days will you last in those countries....

Wed, 02/23/2011 - 14:15 | Link to Comment surfersd
surfersd's picture

quit      ........... issues in Cushing  ........ which is    typo corrections.

 

Wed, 02/23/2011 - 14:23 | Link to Comment Sophist Economicus
Sophist Economicus's picture

Not a sophisticated 'waver' -- but couldn't this be a series of 'one-two'?  

Wed, 02/23/2011 - 14:18 | Link to Comment gigeze787
gigeze787's picture

Doug Kass: Gold Turnaround Only Temporary

CNBC: Friday, 28 January 2011 5:51 PM ET
Considering the unrest in Egypt dramatically increases the safe haven appeal of precious metals, why is Doug Kass still so bearish on gold...

Wed, 02/23/2011 - 14:44 | Link to Comment ForWhomTheTollBuilds
ForWhomTheTollBuilds's picture

Thing Ive noticed the last few weeks is how perfectly backwards the analysts have had it.  "Commodities are going up because of ME tensions."  Of course it's the exact opposite, ME tensions are rising with commodities.

 

If you believe the former, it makes sense that gold will crash as soon as things simmer down a little.

Wed, 02/23/2011 - 14:17 | Link to Comment gwar5
gwar5's picture

Stunning the USD is not going up as a flight to safety.

Beginning of the end. Obama needs to drop the moratorium (he won't).

Glad I bought gold and silver.

Wed, 02/23/2011 - 14:18 | Link to Comment scratch_and_sniff
scratch_and_sniff's picture

It was even on a front page of yahoo the other day, "Why gold is a bad investment" ...how do they get it so wrong so consistently? Relentless, 10+ years. I'm not one for MSM conspiracy theories, but this takes the piss.

Wed, 02/23/2011 - 14:39 | Link to Comment trav7777
trav7777's picture

this is because if gold is a good investment it means the EOWAWKI is coming.  Everyone knows that.  A gold stampede means unhinging of everything that all these pundits and analysts revolve around, the paper markets.  I mean look at Douchinger.

The entire paper economy functions on confidence, and such a thing is fleeting.

Wed, 02/23/2011 - 15:10 | Link to Comment Vernon Maxwell
Vernon Maxwell's picture

Denninger once claimed that the better hedge for a TEOTWAWKI scenario was a bunch of dollar puts or calls or some other paper nonsense.  I noticed that the post in which he made this claim - http://market-ticker.denninger.net/cgi-mt/akcs-www?archived-post=2361-Listen-To-The-Hucksters,-Lose-Your-Ass.html - is no longer "present." 

How convenient.

Wed, 02/23/2011 - 17:19 | Link to Comment Diplodicus Rex
Wed, 02/23/2011 - 14:18 | Link to Comment falak pema
falak pema's picture

Gold vs oil vs sliver...the investor's enigma...like choosing between three pretty girls...sigh sigh..sigh...what a shame I'm married.

Wed, 02/23/2011 - 14:51 | Link to Comment SilverBaron
SilverBaron's picture

Buy them all!  I'm starting a company that will make gold suppositories so you can safely travel with your loot.  How big of a chunk of gold do you think one could hold up thier A$$?

Wed, 02/23/2011 - 15:26 | Link to Comment philgramm
philgramm's picture

I once dropped a turd (not to confuse with resident metals guy turd ferguson) that was 11 inches long and diameter of 30mm.  Admittedly, I almost disemboweled myself that day but it's a workable size for a suppository

Wed, 02/23/2011 - 15:53 | Link to Comment DeltaDawn
DeltaDawn's picture

Please tell me you didn't measure it...

Wed, 02/23/2011 - 18:42 | Link to Comment Gold 36000
Gold 36000's picture

Rather thin.  I measured on at 50 mm.  It was hard to do.  Damn thing kept falling apart.

Wed, 02/23/2011 - 15:55 | Link to Comment velobabe
velobabe's picture

not just suppositories, but something that can go up a cunt, too†

Wed, 02/23/2011 - 18:21 | Link to Comment RockyRacoon
RockyRacoon's picture

We already have those.

Thu, 02/24/2011 - 02:19 | Link to Comment StychoKiller
StychoKiller's picture

Ben-wa ballz?

Wed, 02/23/2011 - 14:18 | Link to Comment Savonarola
Savonarola's picture

Kass would have to do the Bossa Nova on Fast Money to be taken seriously.

Wed, 02/23/2011 - 14:19 | Link to Comment Oh regional Indian
Oh regional Indian's picture

Gold had a lot of catching up to do with Silver. The ratio was trending down too fast.

Nice little re-tachment and off it'll go again.

We could see a little dip soon. options Expirey or geo-political or crazy announcement by some dick-tater.

ORI

http://aadivaahan.wordpress.com/2011/02/23/ihumor-for-un-funny-days/

Wed, 02/23/2011 - 14:19 | Link to Comment SilverSerf
SilverSerf's picture

The atmosphere is so much better at ZH when PM's rise and the trolls are hiding elsewhere.

Wed, 02/23/2011 - 14:41 | Link to Comment Client 9
Client 9's picture

Typical behavior of a reckless and speculative mob that wages everything on a simple one-way bet.  All the more reason to expect a significant pullback when the dust settles and the US gets it's spending under control.

Wed, 02/23/2011 - 14:49 | Link to Comment silver_serf
silver_serf's picture

Doesn't your persona management software let you choose avatars?  Come on guys that is so 2001!

https://www.fbo.gov/index?_cview=1&id=d88e9d660336be91552fe8c1a51bacb2&m...

Wed, 02/23/2011 - 15:00 | Link to Comment Richard Head
Richard Head's picture

"US gets its spending under control." HAHAHAHAHAHA!

Wed, 02/23/2011 - 15:25 | Link to Comment Client 9
Client 9's picture

What do you think the Wisconsin protests are about?

Wed, 02/23/2011 - 15:29 | Link to Comment philgramm
philgramm's picture

yes, I'm sure a couple of billion funbucks saved in cheese country will solve the 100 billion dollar POMO each month.  "trolling ain't easy" ---HOVA

Wed, 02/23/2011 - 18:40 | Link to Comment Gold 36000
Gold 36000's picture

enough drops fill the bucket!

Wed, 02/23/2011 - 15:31 | Link to Comment GoinFawr
GoinFawr's picture

Not dividing the middle class, surely?

Thu, 02/24/2011 - 02:22 | Link to Comment StychoKiller
StychoKiller's picture

Too little, too late!  What're those protesting Decepitcrat/Unionists gonna say when the Police and Fire(wo)men are leading the looters in their neighborhoods?

Wed, 02/23/2011 - 16:59 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

Mr. Dick Butthead,

Agree.    HAHAHAHAHA!

Wed, 02/23/2011 - 15:36 | Link to Comment Husk-Erzulie
Husk-Erzulie's picture

Timmay, you rascal, that's you isn't it...

Wed, 02/23/2011 - 18:40 | Link to Comment Gold 36000
Gold 36000's picture

Oh shit timmy!  You are becoming too obvious.  Get a new ID!

Wed, 02/23/2011 - 19:32 | Link to Comment doggings
doggings's picture

All the more reason to expect a significant pullback when the dust settles and the US gets it's spending under control.

@ Agent 9.

I dont usually find myself responding to the paid trolls, never mid agreeing with them, but in this instance you are correct, after the US gets it's spending under control, you could expect that.

however as that won't happen naturally any time before the sun freezes over, that leaves only the rug being pulled and a very nasty fall to follow your arrogant pride.

so wake me up when the "spending is under control", otherwise am sleeping very soundly at (originally) 78% / 22% gold / silver (but just over 50/50 in funny money denomination now)  and very bored of your type of nonsense

((((((yawn)))))))

 

Wed, 02/23/2011 - 14:45 | Link to Comment silver_serf
silver_serf's picture

Well isn't that you cue to hide then ?

Wed, 02/23/2011 - 14:20 | Link to Comment Caviar Emptor
Caviar Emptor's picture

 

OPEC's BIG BLUFF:

The longer it takes for them to respond to the events, the less credible their threat becomes. The rumors that they have no real production buffer become more credible as time goes on. 

Also the more domestic unrest they have in their countries, the more constrained they'll be to respond to US $100 oil as opposed to helping out their own. 

Wed, 02/23/2011 - 14:20 | Link to Comment Dick Darlington
Dick Darlington's picture

Go my son!

Wed, 02/23/2011 - 14:21 | Link to Comment tmosley
tmosley's picture

Those guys must have been thinking of silver, which certainly WILL see triple digits, likely this year, and certainly before the end of next year.

Wed, 02/23/2011 - 14:21 | Link to Comment Bastiat
Bastiat's picture

I'm sure all the PM top-callers were massively short -- I mean they wouldn't have been just talking shit, would they?

Wed, 02/23/2011 - 14:24 | Link to Comment SilverSerf
SilverSerf's picture

No, no way. That would be so cheap.

Wed, 02/23/2011 - 14:32 | Link to Comment Bastiat
Bastiat's picture

I'm sure they'll all be expressing their regrets and telling us how much they lost any day now.

Wed, 02/23/2011 - 14:29 | Link to Comment strannick
strannick's picture

Dougie Kaaasssss, come out to playeeeyaaaa.

Also, over in Kitco room 800, John Nadler is giving a lesson on Cognitive Dissonance. He doesnt realize the class is mostly filled with smarmy spitballing throwing goldbugs. The burly nurses aids are waiting outside for an appropriate time to enter and restrain him.

Wed, 02/23/2011 - 14:28 | Link to Comment lunaticfringe
lunaticfringe's picture

Tyler...I was reading all of the headlines on ZH today and was feeling kind of depressed. So I thought I'd bring promising hope to Americans everywhere.

http://thecivillibertarian.blogspot.com/2011/02/we-have-promising-future...

Wed, 02/23/2011 - 14:31 | Link to Comment daybyday
daybyday's picture

all time high in gold is 1432.50 when we trade 22.5 this article will have relevance until then back to the salt mines nice try ZH.

Wed, 02/23/2011 - 14:35 | Link to Comment Bastiat
Bastiat's picture

OK tomorrow then.

Wed, 02/23/2011 - 14:36 | Link to Comment strannick
strannick's picture

Wow.

That kind of nitpicky obfuscating semantic reminds me of the university imbeciles. Or John Nadler

Wed, 02/23/2011 - 14:59 | Link to Comment daybyday
daybyday's picture

FACTS ARE FACTS...but maybe you subscribe to Bernank way of thinking and whats a few trillion among friends and don't mind the details...kinda sounds like CNBC reporting to me...and thats what zh should not be about.

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