• Sprott Money
    05/26/2016 - 05:58
    How many “emergency” “secret” meetings do the central planners around the world need to have before the citizens of the respective countries begin to fully understand and take notice that something...

And The Winner, After Bernanke's Humphrey Hawkins Dog & Pony Show, By Unanimous Decision Is.... Gold

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Thu, 07/14/2011 - 12:54 | 1456547 Ancona
Ancona's picture

Fucking golden!

Thu, 07/14/2011 - 13:48 | 1456796 slaughterer
slaughterer's picture

Once the debt ceiling agreement is reached, Gold will drop $100 in 5 minutes, and silver will drop $5 in 2 minutes.    Both are technically unstable at these levels.   Any good news will knock them down in a second.    

Thu, 07/14/2011 - 14:27 | 1456937 caerus
caerus's picture

I would tend to agree...Uncertain about the causality, but we got a big move in EGC since 7/5.  Considering it took us about 2 1/2 months to break 1550 area I would expect and welcome a breather (after the sharp increase that began 7/5)...as long as 1550ish holds

Thu, 07/14/2011 - 15:45 | 1457273 Silver Kiwi
Silver Kiwi's picture

Good theory but where's the good news coming from??

Greece is still just days away from default,

Italy & Ireland are not far behind,

China's shell game is about to be exposed,

Global & US inflation is still steaming along at a great rate of knots regardless of BS stats to the contrary,

US housing & employment are getting worse every week,

US debt's trajectory has taken over from the Shuttle space program,

Libya & the rest of MENA is still in turmoil & showing no signs of abating (regardless of being ignored by MSM) and the oil wars haven't even started yet,

oh and don't forget that our good friend & media mogul, defender of the (bankers) faith and the greatest enemy of the sheeple the world has seen in 60 years, Rupert Murdoch, is about to be thrown to the wolves for committing the greatest sin; getting caught. Well this actually is good news, the sooner they close down Fox News and all his other propoganda machines the better off the whole planet will be.



Thu, 07/14/2011 - 16:25 | 1457390 SeverinSlade
SeverinSlade's picture

Comes down to the banksters not wanting to end the Ponzi scheme quite yet.

QE3 is going to come before the fiat currencies collapse. 

Gold and silver have gone up in pricing due to inflation worries and the problems in the Eurozone.  PPI and CPI are sure to show that inflation is [temporarily] slowing.  And the fact that JPM just issued a downward revised GDP forecast shows that the Bernank will use the threat of deflation to knock the markets down and strengthen the dollar.

Bernanke can't announce QE3 with a weak dollar and strong markets.  ZH is right.  The markets WILL dump and metals will follow (although will hold most of their strength).

Thu, 07/14/2011 - 16:15 | 1457348 SeverinSlade
SeverinSlade's picture

Have to agree well.  Seems that most PM bulls think that as soon as $1600 is taken out that $2000 will follow immediately.  They fail to realize that Bernanke is STILL in control.  He's going to end the Ponzi scheme at some point but not quite yet.

I also find it interesting that as soon as gold hit its new high my inbox was filled with soliciting emails from bullion dealers saying, "Gold almost to $1600 buy now!!!"

Don't you buy on weakness?

Once the debt ceiling deal is agreed upon, the poor economic data and decrease in inflation will take the wind out of the sails of PMs.  Like ZH has pointed out on a number of occasions, equities, commodities AND PMs will trade down leading up to QE3.  Simple point is they have to.  With the Eurozone falling apart, investors will have [temporarily] renewed confidence in treasuries.  A strong[er] dollar with the threat of deflation will have Wall Street and Washington begging for QE3.

Thu, 07/14/2011 - 16:54 | 1457535 LongBalls
LongBalls's picture

More debt is bearish for gold? Even if they approve cuts in spending they will no doubt be pushed to the outlying years and assume pie in the sky tax receipts to fund the programs that will remain. In order for those pie in the sky tax receipts to come in the economy must grow. With the export gap we have the only way to do that is to do what? DEVALUE THE CURRENCY! Our manufacturing base has been gutted! Protect yourself. You have been warned. This is a race to the bottom while consumers run from the burden of credit.

Fri, 07/15/2011 - 08:56 | 1458979 SeverinSlade
SeverinSlade's picture

In the short term, yes (I'm talking weeks though).  Long term, of course not.  Just reminding people that there will almost surely be a significant dip in the coming weeks.  Doesn't mean you should stop stacking physical.  I'm sure as hell not.  I do have cash reserves though to back up the truck if/when that dip comes.

Thu, 07/14/2011 - 12:55 | 1456548 Archimedes
Archimedes's picture

Where is Methman! He said silver would be at $5 dollars by now! I wanted to BTFD!

Thu, 07/14/2011 - 13:01 | 1456571 barkingbill
barkingbill's picture

yeah where is that asswipe? now that his silver bubble theory has expired...in embaressment....

Thu, 07/14/2011 - 13:34 | 1456708 camaro68ss
camaro68ss's picture

I need to get more It's "tradition" in my safe.

Thu, 07/14/2011 - 14:12 | 1456891 r101958
r101958's picture

...where is Robotripe?

Thu, 07/14/2011 - 15:32 | 1457234 jomama
jomama's picture

some people have no sense of humor.

Thu, 07/14/2011 - 12:55 | 1456549 ads56
ads56's picture

Gold is not money.

Thu, 07/14/2011 - 13:06 | 1456597 Fanatic
Fanatic's picture

"It's tradition."

Thu, 07/14/2011 - 13:10 | 1456606 darkhorse007
darkhorse007's picture

I love how we moved from "Transitory" to "Tradition"

Thu, 07/14/2011 - 13:18 | 1456644 Vergeltung
Vergeltung's picture

traditional gold, but transitory.

Thu, 07/14/2011 - 13:44 | 1456718 akak
akak's picture

It's a transitory tradition in the soft patch of the Goldilocks economy after it experiences its soft landing --- not to be confused with its double dip.  And there is no bubble in the housing market, and the subprime mortgage crisis will be contained and not spread to the broader economy.  And I can see Russia from my ivory tower!

Thu, 07/14/2011 - 13:22 | 1456656 Sgt.Sausage
Sgt.Sausage's picture

Are peas money? At least ya can eat 'em. I keep hearing "Ya can't eat gold!" but the Big O said we should eat our peas.

Thu, 07/14/2011 - 12:57 | 1456556 TaxSlave
TaxSlave's picture

Cigarettes, whiskey, and sex.  The new money.

Thu, 07/14/2011 - 12:58 | 1456561 Incubus
Incubus's picture

People still smoke? Lol.


Thu, 07/14/2011 - 13:32 | 1456695 ljag
ljag's picture

There are alot of folks out there that haven't seen the inside of a grocery store since their mama took them off the teat. Russian hotties were throwing themselves at anyone that looked like they might have 2 nickles to rub together when their country broke up. Yeah, nails, booze and sex will definitely be traded this decade.

Thu, 07/14/2011 - 15:48 | 1457282 HungrySeagull
HungrySeagull's picture

There be a grain of truth in that o' wise ant.

Thu, 07/14/2011 - 12:58 | 1456559 baby_BLYTHE
baby_BLYTHE's picture

Robotrader's prediction of DOW= 15k Gold= $1650, will fail

Gold will reach $1650 and the DOW will still be well below 13k

Thu, 07/14/2011 - 13:04 | 1456585 Vic Vinegar
Vic Vinegar's picture

Ballsy call.  I like it Blythe.

Thu, 07/14/2011 - 13:21 | 1456652 SheepDog-One
SheepDog-One's picture


Thu, 07/14/2011 - 13:42 | 1456766 Smiddywesson
Smiddywesson's picture

Maybe Robo had a fat finger event and meant DOW 1,500 and gold=$16,500.

Thu, 07/14/2011 - 12:58 | 1456560 entendance
entendance's picture

I beg to differ, the winners are folks not salivating after fed

Thu, 07/14/2011 - 12:58 | 1456564 ThoughtCriminal
ThoughtCriminal's picture

nah, just lunch break for Blythe and crew

Thu, 07/14/2011 - 13:02 | 1456573 Max Fischer
Max Fischer's picture

ZeroHedge used to post the daily commentary of Art Cashin with his infamous cocktail napkin musings all the time.    

If you don't mind me asking, why did ZH stop?  That was always good stuff.  And what ever happened to Nic Lenoir?

- Max Fischer, Civis Mundi  

Thu, 07/14/2011 - 13:31 | 1456694 lookma
lookma's picture

And what ever happened to Nic Lenoir?

Who knows, but we all need to give a hearty "pat on the back" to whoever is responsible for the cessation of that stream of utter rubbish!


Thu, 07/14/2011 - 13:39 | 1456740 akak
akak's picture

Now if Tyler(s) would only pull the plug on the Keynesian ravings of little leo quislingasskiss.

Thu, 07/14/2011 - 13:03 | 1456579 alexwest
alexwest's picture

blah blah blah ..

#continuation of yesterday's deranged activity, as
#explained by Art Cashin

there's alwways some kind of smart ass who exactly would explain why/what/how HAPPENED YESTERDAY..

yet to hear what will happen tomorow.. hey mr 'jerk me off' (H)art(d) Cashin.. any details?


Thu, 07/14/2011 - 13:03 | 1456584 monmick
monmick's picture

He actually meant to say "you can't eat gold".

Thu, 07/14/2011 - 13:05 | 1456589 KCMLO
KCMLO's picture


Thu, 07/14/2011 - 13:06 | 1456598 economists_do_i...
economists_do_it_with_models's picture

I have no position either way, but the GLD:UDN relationship seems a bit strained on a short-term basis.  The other recent times featuring such a sharp run-up were May 2010 and Nov 2010.  Both featured a flight to safety (UUP, TLT, VXX, etc) while risk assets (SPY, commodities, FXA, FXE) suffered.  I think GLD & SLV will pause/dip before moving higher.

Thu, 07/14/2011 - 13:18 | 1456614 Threeggg
Threeggg's picture

The big purchasers (Large Volumes) of PM's are moving in now with the drawdown and capping  going into the Comex close.

20 minutes to go.


Thu, 07/14/2011 - 13:14 | 1456618 worldlymrb
worldlymrb's picture

Gold the 4,000 year tradition

Thu, 07/14/2011 - 13:13 | 1456619 surfwon
surfwon's picture

that fucking liar will eat those words

Thu, 07/14/2011 - 13:16 | 1456632 YesWeKahn
YesWeKahn's picture

Gold will be 10000000$ by the time this idiot resigns with total disgrace.

Thu, 07/14/2011 - 13:34 | 1456704 theMAXILOPEZpsycho
theMAXILOPEZpsycho's picture

I think when he gets hanged or gullotined a pile of gold eagles should be the last thing he gets to see

Thu, 07/14/2011 - 13:17 | 1456636 LawsofPhysics
LawsofPhysics's picture

No surprise here as more and more search a safe store of value and hedge against inflation.  Any comments on the recent bond auction?  Rates starting to be forced higher yet, bond rout and greece x14,000,000,000,000?

Thu, 07/14/2011 - 13:20 | 1456647 The Alarmist
The Alarmist's picture

Gold is not money, therefore it is out of the control of Bernansky, and therefore it might actually be useful as a store of value and therefore worth something, therefore it goes up.  Or is the dollar going down?  Whatever.

FM Baby, FM!

Thu, 07/14/2011 - 13:23 | 1456662 SheepDog-One
SheepDog-One's picture

Gold is not fake money, therefore central fractional reserve banksters have no use for it. Cant derivative a gold coin...therefore no use.

Thu, 07/14/2011 - 13:44 | 1456773 JohnG
JohnG's picture

The LBMA can.

Thu, 07/14/2011 - 13:45 | 1456776 JohnG
JohnG's picture


Thu, 07/14/2011 - 13:22 | 1456659 Caveman93
Caveman93's picture

Just got a major boner!

Thu, 07/14/2011 - 13:25 | 1456669 zorba THE GREEK
zorba THE GREEK's picture

 The real question is not; whether or not gold is money, but whether or not fiat 'toilet paper'

 dollar is money.

Thu, 07/14/2011 - 13:26 | 1456676 lookma
lookma's picture

Its almost as if the Euro was built to solve the dollar reserve currency debt problem through a revalution of its gold reserves...oh wait, that is the fundamental point of the EMU's structure.

Who knew?  Hint--->>> http://fofoa.blogspot.com/2011/07/euro-gold.html



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