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Another Day, Another All Time High: Gold At $1,544.9

Tyler Durden's picture




 

Hopefully at this point nobody is surprised why at this rate gold will pass $1,600 within a month, silver may be $100 by the end of the year, and the dollar will be worthless, in order, to paraphrase Bernanke, reincarnate it in a fresh start version of itself, following the refinancing of all US private and public debt at 0% interest. For everyone still confused, and the naysayers, we urge you to read the following - link.

Gold:

DXY:

 

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Fri, 04/29/2011 - 10:36 | 1220358 SilverRhino
SilverRhino's picture

Don't know if it's resting so much as making solid support lines.  

Should be an interesting May.

 

Fri, 04/29/2011 - 10:43 | 1220379 Turd Ferguson
Turd Ferguson's picture

CD: You need to stop by more often.

First of all, we miss you. Second, we discussed this yesterday:

http://tfmetalsreport.blogspot.com/2011/04/change-of-leadership.html

Fri, 04/29/2011 - 10:53 | 1220418 Hephasteus
Hephasteus's picture

Have to agree. Gold to 1650 as a sideshow distraction to take focus off silver.

Fri, 04/29/2011 - 10:54 | 1220422 Cognitive Dissonance
Cognitive Dissonance's picture

LOL

I look over Meth Man's shoulder when he sneaks a peek at your blog to see what's really going on in the PM sector.

Fri, 04/29/2011 - 11:45 | 1220665 Pool Shark
Pool Shark's picture

 

Nothing like a new all-time high in gold to bring out the trolls...

Can't believe some sub-moronic fruitcake actually had the gall to junk Turd.

[shakes head in disgust...]

 

Fri, 04/29/2011 - 10:43 | 1220392 Long-John-Silver
Long-John-Silver's picture

The hold down straps on the compressing spring under Gold are breaking away. Lookout above!

Fri, 04/29/2011 - 11:41 | 1220661 Uncle Remus
Uncle Remus's picture

Sproing.

Or is it sproit?

Fri, 04/29/2011 - 12:03 | 1220748 Cognitive Dissonance
Cognitive Dissonance's picture

Sprott Physical Gold (and Silver) Trust

Fri, 04/29/2011 - 10:49 | 1220406 Math Man
Math Man's picture

Gold may be making record highs, but I haven't seen anything from ZH on Sprott selling 1.6mm shares of PSLV on behalf of his funds.

 

The most vocal bull and manager of PSLV selling his position must not be important.

Have fun when silver crashes.  Even Eric Sprott is a seller here.

 

Here are links to the SEC filings:

 

11/3/10: 14.97mm shares

4/21/11:  13.36mm shares

 

http://www.sec.gov/Archives/edgar/data/1277006/000091957411002836/d11902...

http://www.sec.gov/Archives/edgar/data/1277006/000091957410006801/d11469...

Fri, 04/29/2011 - 11:02 | 1220487 Troll Magnet
Troll Magnet's picture

Math Man

this is like the 20th time you've posted this info.  what you're leaving out is the other half of the story which is that sprott is likely selling shares to buy more bullion.  but you're not going to tell anyone that.

i've had my doubts about you but now i'm 100% sure that you're a liar and a troll. 

Fri, 04/29/2011 - 11:10 | 1220519 topcallingtroll
topcallingtroll's picture

Somehow i find myself strangely attracted to you

Fri, 04/29/2011 - 12:56 | 1220999 55 men
55 men's picture

I busted out loud when I read that. Totally out of the blue, that is why it is funny.

Fri, 04/29/2011 - 11:12 | 1220526 Burnbright
Burnbright's picture

Yep, only I never had any doubts.

Fri, 04/29/2011 - 11:04 | 1220500 Troll Magnet
Troll Magnet's picture

Math Man

this is like the 20th time you've posted this info.  what you're leaving out is the other half of the story which is that sprott is likely selling shares to buy more bullion.  but you're not going to tell anyone that.

i've had my doubts about you but now i'm 100% sure that you're a liar and a troll. 

Fri, 04/29/2011 - 16:00 | 1221941 Math Man
Math Man's picture

A liar and a troll....  hmmmmm.

I prefer purveyer of facts.

Did you miss the links to the SEC filings showing Sprotts sales of PSLV?

Sprott is a seller and you should be too.

At the very least, swap your Silver for Gold.  The rest of the market is today.

Fri, 04/29/2011 - 19:38 | 1222626 mick_richfield
mick_richfield's picture

but now i'm 100% sure that you're a liar and a troll.

 

Personally, I think Math Boy is a 3000-line Perl script running on a cheap laptop.

Fri, 04/29/2011 - 20:03 | 1222705 StychoKiller
StychoKiller's picture

Welcome to the World-Wide Currency Wrestling League™, ladies and gentlemen...In this tag-team match tonite, Gold & Silver vs the FRN, Pound, Euro, and pretty much everybody else...Let's get ready to ruuuummmmbbbllle!

Fri, 04/29/2011 - 10:36 | 1220340 velobabe
velobabe's picture

fish bowl, bitchez.

Fri, 04/29/2011 - 10:37 | 1220362 RobotTrader
RobotTrader's picture

Meanwhile, biggest profit making trade in 2011 has been to short the mining stocks while going long physical.

Never before has there been so much money made so fast.

These hedge funds must be high fiving and getting ready to take the rest of the year off.  It's going to be a huge summer at The Hamptons for Dan Norcini's much reviled "Ratio Traders"...

Fri, 04/29/2011 - 10:42 | 1220374 Internet Tough Guy
Internet Tough Guy's picture

Gold probably topped. Now we need a retracement
RobotTrader - Wed, Apr 20, 2011 - 01:14 PM

Howling over at Zero Hedge reached hysteria levels, rivaling Madison Square Garden during the NBA playoffs.

I fear many of those guys are going to get decimated.

Fri, 04/29/2011 - 11:47 | 1220688 Ruffcut
Ruffcut's picture

Hey, robutt knows how to read charts, but no one told him that his monitor is upside down.

Fri, 04/29/2011 - 10:49 | 1220413 Re-Discovery
Re-Discovery's picture

Have fun with it.  My sense is that whenever the "powers that be (read analyst community)"  decides they may need to adjust their expected Silver price upwards (I don't know, maybe because they value the mining reserves at $25 an ounce), then you might start getting a little tight in your shorts.

The move in the physical may seem gradual in comparison.

Fri, 04/29/2011 - 11:05 | 1220430 oddjob
oddjob's picture

same chart again and again....yawn.

How does your SLV comparison compensate for the corresponding base metal portion of SIL and its by-product credit?

Fri, 04/29/2011 - 12:12 | 1220785 disabledvet
disabledvet's picture

it has been said "the Morgan temperature grew slowly...like a train.  And then...

Fri, 04/29/2011 - 19:42 | 1222635 mick_richfield
mick_richfield's picture

RoboShill -- you get my award for dumbest troll.  How do you hold down this gig?  Work cheap?

Fri, 04/29/2011 - 10:37 | 1220363 slaughterer
slaughterer's picture

China must be converting USD to gold. $1.9trillion more to go.

Fri, 04/29/2011 - 10:43 | 1220377 SoNH80
SoNH80's picture

It will get easier as they go along.....

Fri, 04/29/2011 - 10:40 | 1220369 Jovil
Jovil's picture

Talk about the creepo, he will have to print another $2.5 trillion dollars to buy the bonds that China, Japan and the oil states in the Middle East will not purchase. Add to that to purchase the bonds the Chinese and Japan will be selling. It will kill the dollar and PMs will skyrocket. Read all about it here:

http://lonerangersilver.wordpress.com/2011/04/28/fed-likely-to-print-2-5...

Fri, 04/29/2011 - 10:40 | 1220376 peak experience
peak experience's picture

Robotrader, what do you think this implies for gold price in coming months?

Fri, 04/29/2011 - 10:42 | 1220385 Temporalist
Temporalist's picture

You can't ask RabidTraitor to predict something for tomorrow when it can only state what has happened in the past.

Fri, 04/29/2011 - 11:53 | 1220699 Richard Head
Richard Head's picture

Plus, he pretends he bought the past low or sold the past high.  He's a total jackoff.  Don't know why he gets special privileges on ZH.

Fri, 04/29/2011 - 12:14 | 1220805 oddjob
oddjob's picture

$

Fri, 04/29/2011 - 10:44 | 1220382 6_7_42
6_7_42's picture

Read the book at the link; the parallels to the Weimar episode and now are a total mind-fuck.

Fri, 04/29/2011 - 10:45 | 1220396 Temporalist
Temporalist's picture

Here is something from yesterday on that exact topic too but for the UK and their own QE:

The Parallels with Weimar Germany - 28 April 2011

http://goldnews.bullionvault.com/qe_weimar_042820114

Fri, 04/29/2011 - 10:42 | 1220383 cxl9
cxl9's picture

My plan again this year, as it was last year, is to defer paying all of my quarterly U.S. taxes and buy previous metals with the money. Then when the taxes are due next April, cash in the precious metal and pay the government in their debased currency. Worked out very nicely for me in tax year 2010.

 

Fri, 04/29/2011 - 10:45 | 1220390 6_7_42
6_7_42's picture

+++!

Fri, 04/29/2011 - 10:42 | 1220387 Idiot Savant
Idiot Savant's picture

Wow, I never thought Turd would make his prediction of $1600.00 by 6/10. Please accept my apology Turd.

Fri, 04/29/2011 - 10:42 | 1220389 peak experience
peak experience's picture

Why are UST bonds rising?

Fri, 04/29/2011 - 11:11 | 1220536 mynhair
mynhair's picture

Wish I knew.  China should sell while the price is up.

Fri, 04/29/2011 - 11:15 | 1220545 dugorama
dugorama's picture

what?  nominal interest rates now negative?

Fri, 04/29/2011 - 10:45 | 1220391 The 22nd Prime
The 22nd Prime's picture

A bit OT

http://news.yahoo.com/s/ap/us_severe_weather

Why aren't tornados declared terrorists by our dear Overlords? Solve our problems please.

They solved the economy, peace is breaking out everywhere, jobs are up, stocks are roaring, the dollar is AAA robust, and what's all this ludicrous talk of inflation. Controlling the weather must be their next triumph. They will conquer CO2. Goodbye tornados.

Back On Topic

Oh, I almost forgot but Hamy beat me to it; gold and silver are in a bubble. Have you seen the ridiculous price for an ounce of gold? Dump your bullion for bonds as soon as possible. Hard assets, food storage and weaponry are sooo last generational. My grandparents were debt fearing kooky paranoids with bomb shelters. Nowadays there's a Publix, a Shell and an ATM right down the street. And no matter what line I ever have to stand in, everybody seems so nice. Double plus good.

Fri, 04/29/2011 - 12:49 | 1220968 Forward History
Forward History's picture

You didn't hear the news? People have been saying we control the weather for years now.

Fri, 04/29/2011 - 10:47 | 1220404 Hephasteus
Hephasteus's picture

DXY just slipped back into 72.98.

Fri, 04/29/2011 - 10:49 | 1220405 topcallingtroll
topcallingtroll's picture

I am very alone and very afraid, and this has often been my best trading strategy. Long ZSL at 13.69. I finally kicked my margin habit.

Be right, sit tight as the great Jesse used to say
or be wrong, take the schlong.

We shall see.
Stopping out at 12.10. I cant sit here and watch my horse all day. Gotta get to work.

Fri, 04/29/2011 - 11:34 | 1220618 dugorama
dugorama's picture

YOU've got some brass in your pants.  walking away from the computer when shorting?

Fri, 04/29/2011 - 11:56 | 1220714 Ruffcut
Ruffcut's picture

THat's easy when you only have 10 shares.

 

Fri, 04/29/2011 - 12:11 | 1220777 topcallingtroll
topcallingtroll's picture

Two to one leverage is not shorting. It is for girlymen and reformed leverage addicts.

Fri, 04/29/2011 - 10:50 | 1220408 Frenchroast
Frenchroast's picture

Whew! Sitting here for quite a while having cup after cup of java waiting for the end of US dollar hegemony.... and finally, looks like it's just around the corner. Also, the end of the smart-mouths.... MethMan, Robotroll and Dangerdude... it was nice knowing you! ....not

Fri, 04/29/2011 - 10:50 | 1220409 Two Towers AU AG
Two Towers AU AG's picture

Silverrrr Bitchezzzzz

I agree silver is consolidating its support line in the late 40's. I see the next jump heading to the 58-60 price level by mid/end may. My idea of a "short term top" for minor correction is around 68-70 but the top for this year will certainly be beyond that probably around early 80's

sorry did not see any article on silver today to post my comment.. :(

Fri, 04/29/2011 - 10:49 | 1220412 DeweyLeon
DeweyLeon's picture

The CNBC website has changed the PM header to just "SILVER".  If I didn't know any better I'd say silver just peaked.

 

http://www.cnbc.com/

Fri, 04/29/2011 - 10:53 | 1220426 tekhneek
tekhneek's picture


GOLD FUTURES "Silver sags" LOLOLOL it's up like what, 68% YTD? LOLOL Shit's rich.

Fri, 04/29/2011 - 10:58 | 1220447 Temporalist
Temporalist's picture

Don't sweat it they still don't have a clue.

""I think what you're starting to see is a tremendous amount of speculation in the market, and it's being driven by the silver ETF...the silver ETF traded more than the SPDR (S&P 500 ETF),""

http://www.cnbc.com/id/42820116

Fri, 04/29/2011 - 12:01 | 1220730 Hearst
Hearst's picture

I can remember for years cnbc never mentioning Silver.  Gold they would flash on the banner on a timed basis but Silver nope.  Maybe when commodites were brought up you'd get a minunte blip about Silver.  These days, it's front and center and suddenly they're all experts calling tops like it's going out of style.

Fri, 04/29/2011 - 12:13 | 1220804 SilverRhino
SilverRhino's picture
  • When Cramer and his ilk are telling you to buy buy buy
  • When you see all these gold shops SELLING gold
  • When your neighbors are talking about how to get the best gold and silver.

THAT's when you start selling.   That is not now. 

Fri, 04/29/2011 - 13:05 | 1221043 Steelpulse
Steelpulse's picture

...they've changed it back to "GOLD".

Fri, 04/29/2011 - 10:50 | 1220416 6 String
6 String's picture

So predicatable. Silver take down everyday at this time. I mean, seriously, every other metal is still up, but silver? Down.

I'm surprised someone hasn't gone postal and CFTC, Goldman Sachs, commissioner yet. Oh, wait. Someone did lash out, and he is behind bars.

....and it goes on and on and on.

Fri, 04/29/2011 - 10:59 | 1220453 Long-John-Silver
Long-John-Silver's picture

This makes BTFD easy. We all know when to come in and place the order. You would think they would randomize it with dice or something simple, but no. Same Bat Time, Same Bat channel, same BTFD.

Fri, 04/29/2011 - 14:37 | 1221512 Ben Fleeced
Ben Fleeced's picture

Same Bat Fucking Dip.

 

Ahaha!

Fri, 04/29/2011 - 10:54 | 1220420 tekhneek
tekhneek's picture

Does anyone else agree that this time around it will just be a slow, consistent depreciation and devaluation so that by the time it's worthless, people are just beginning to realize what's been done to them?

I'm talking about "the masses" the people who only act when an absurdity occures, not people that prepare, but people that assume what the MSM says is true and form their opinions from that accordingly.

I've thought for awhile that one day I'd wake up and see a 10 point drop in the DXY but the past few months I feel more and more like this will just be a slow, consistent, gradual decline of power purchasing power.

Like getting robbed, very, very slowly.

Fri, 04/29/2011 - 10:57 | 1220439 SoNH80
SoNH80's picture

This isn't slow.  1981-2001 (long run trend) was slow.  This is fast, very fast.

Fri, 04/29/2011 - 11:05 | 1220486 tekhneek
tekhneek's picture

I wasn't even alive in 81, or 82 or 83 or 84 or 85 or 86 or 87 or ... heh.

Wasn't watching for that crash.

What price is gold in USD when the USD is just worthless?

DXY @ 50? 40? 30? I mean where's the breaking point, 70?

Fri, 04/29/2011 - 11:31 | 1220602 SoNH80
SoNH80's picture

That's the $20 Trillion Question.  This movie has been shown in the Confederate States of America, Wiemar Germany, post-Communist Poland, Turkey in the 1990s, and other places.  The plot is the same, but the characters and specific features change.  There is no magic number, just sit back and watch the movie unfold.

Fri, 04/29/2011 - 12:57 | 1221002 Forward History
Forward History's picture

Consider how things come full circle: Germany faced hyperinflation and its economy was crushed following the war debt the victorious Allied nations placed on it after WWI. We all know about the dollar printing they did.

Decades later, partly as a result of crowning ourselves kings of the world after WWII, America now has the debt accumulated from this desire to play world police; it is as if we have volunteered to shoulder the same level of debt that we forced on Germany.

And, as if to make the situation even more ironic, we decided to engage in the savaging of our fiat currency, knowing what it did to the German Republic post-WWI -- and we decided to go ahead anyway.

Hitler looks up, from his lava pit, to the west of 2011, and cracks a smile. Finally got even with the Allied nations that he saw as culpable for Germany's woes...

And we did it to ourselves.

Fri, 04/29/2011 - 13:32 | 1221161 GoinFawr
Fri, 04/29/2011 - 11:04 | 1220502 SoNH80
SoNH80's picture

This isn't slow.  1981-2001 (long run trend) was slow.  This is fast, very fast.

Fri, 04/29/2011 - 11:08 | 1220522 Long-John-Silver
Long-John-Silver's picture

It took a couple of years for hyperinflation to seriously take off in Wiemar and Zimbabwe. Then it went near vertical. Look at this chart of Wiemar hyperinflation.

http://en.wikipedia.org/wiki/File:GermanyHyperChart.jpg

History repeats and when you compare the above chart with what is going on now you'll find we are repeating Wiemar inflation of the year 1921.

Fri, 04/29/2011 - 13:37 | 1221173 Kassandra
Kassandra's picture

+100

Fri, 04/29/2011 - 15:48 | 1221887 Raphio
Raphio's picture

+ 100,000

Fri, 04/29/2011 - 11:36 | 1220632 gmrpeabody
gmrpeabody's picture

Is it just me..., or do the rest of you think the water is getting warmer?

Fri, 04/29/2011 - 10:52 | 1220425 RobotTrader
RobotTrader's picture

All I can say is that the underperformance of the mining stocks and overperformance of consumer stocks like LULU, WSM, TIF, COH, will go down in the history books as the most baffling moment in stock market history.

Seems like LULU should be trading at $20 and NEM or GG should be at $200.

Instead, it's the other way around.

If I had only bought LULU at $30 last September, I could have moved out of this 600 sq. ft. Hollywood slum apartment and could have bought myself a scooter so I would not have to ride the Metro with all the local scumbags......LOL....

Fri, 04/29/2011 - 10:55 | 1220442 Internet Tough Guy
Internet Tough Guy's picture

Panic-stricken GHS'rs now chain-selling GLD and SLV
RobotTrader - Tue, Apr 26, 2011 - 10:16 AM

Yep, how ironic is it that the "sound money" advocates are the ones most heavily on margin, and those guys are getting their clocks cleaned today.

Fri, 04/29/2011 - 11:03 | 1220495 espirit
espirit's picture

Can't resist roborooter... Perhaps if you got a real job you could move out of your mom's place.

Fri, 04/29/2011 - 11:48 | 1220682 Richard Head
Richard Head's picture

You stupid fuck.  Sure, all of us could be rich now if we had a fucking crystal ball.  "Waaaahh, if only I had bought Google at its IPO I'd be rich!" 

Fri, 04/29/2011 - 12:00 | 1220742 ghostfaceinvestah
ghostfaceinvestah's picture

No kidding.  You also notice how few people think the opposite way: "If only I had bought puts on Fannie Mae in July 2008..."

Fri, 04/29/2011 - 12:03 | 1220749 Ruffcut
Ruffcut's picture

Shit Dick, if you had bought ipo google, you could buy a scooter.

Fri, 04/29/2011 - 14:35 | 1221518 au_bayitch
au_bayitch's picture

I remember it that was a strange offering. Wasn't that individuals couldn't buy the google ipo? When they could, the price had increased.

Fri, 04/29/2011 - 18:45 | 1222467 Richard Head
Richard Head's picture

If I recall, it was a reverse Dutch auction, and they kept Wall Street bankers out of it.  That should have been the clue to jump in.  The IPO priced at $85 I believe.

Fri, 04/29/2011 - 12:24 | 1220847 disabledvet
disabledvet's picture

being homeless in Malibu wasn't all bad.  Until Clint Eastwood showed up.  Damn actors....

Fri, 04/29/2011 - 10:57 | 1220432 Re-Discovery
Re-Discovery's picture

And the correlated attack that began at 10:30 AM or so has met its resistance.  More bear raids today?  Same charts, different hour.

Fri, 04/29/2011 - 10:54 | 1220436 tekhneek
tekhneek's picture

> $1,600 at the end of 2011. LOL, way off. I see this at $1,850-$50,000 come 2012.

Fri, 04/29/2011 - 10:58 | 1220449 Youri Carma
Youri Carma's picture

Gold-Buying Central Banks May Signal Bullion Extending Record Price Rally, 29 April 2011, by Pham-Duy Nguyen (Bloomberg) http://www.bloomberg.com/news/2011-04-29/gold-buying-central-banks-may-signal-bullion-extending-record-price-rally.html

Gold, Gresham's Law and the Dong
28 April 2011
, by Ben Traynor (Safe Haven)
http://www.safehaven.com/article/20794/gold-greshams-law-and-the-dong

Excerpt:

But you can hardly blame the Vietnamese people for buying and hoarding gold. Not when the official base interest rate is 9%...high by the near-zero standards of the West, but even worse when you remember that Viet inflation is running at 17.5%.

That means a real rate of return on Dongs of minus 8.5%. By spooky coincidence the exact same percentage by which the Dong was recently devalued.

In this regard, gold ownership is a direct consequence of economic conditions. The only way the SBV could provide Vietnamese with an incentive to save in Dong would be to raise the nominal interest higher than inflation, and thus provide a decent real rate of return. But this would mean rates of around 20% at least. Not only would this hit the domestic economy hard, it would almost certainly cause the Dong to appreciate, which would make the trade deficit even worse.

Unable, therefore, to directly incentivize people the hold paper money, the authorities have resorted instead to marginally disrupting gold's monetary function. But this won't work. People will still prefer to hold gold because the Dong is failing to fulfill one of the core functions of money. It is a terrible store of value.

That is why the Vietnamese continue to hoard "good" money (gold) while passing the bad stuff around. Just as Gresham's Law predicts.

ESSENTIAL: REAL INTEREST RATES ARE NEGATIVE WHICH IS BULLISH FOR SILVER AND GOLD.

Somtin Dian L. Chu somehow doesn’t seem to understand.

See: Physical Silver Investors Are Being Hoodwinked by the Futures Market http://www.zerohedge.com/article/physical-silver-investors-are-being-hoodwinked-futures-market

Or maybe the one dimensional approach of silver and gold merely as a commodity like all the others like iron or allumium clouded clear judgement.

Fri, 04/29/2011 - 10:56 | 1220451 A_MacLaren
A_MacLaren's picture

The world's true Gold believers live where?
In China or India?  Nope, Vietnam.

http://www.safehaven.com/article/20794/gold-greshams-law-and-the-dong
Gold, Gresham's Law and the Dong

Vietnam's economy uses three different forms of money today. There is the official currency, the Vietnamese Dong. There is also the US Dollar, which Vietnamese people tend to trust a bit more. And then, there is gold.

Gold is a big deal in Vietnam. The average Vietnamese spends more of each Dollar of income on gold than anyone else on Earth. Total gold buying amounted to 3.1% of GDP last year. (By comparison, private gold purchases amounted to 2.5% of India's GDP, while China's were a mere 0.4%.)

Fri, 04/29/2011 - 11:14 | 1220548 falak pema
falak pema's picture

Anybody who has a currency called Dong needs to get high!

Fri, 04/29/2011 - 11:41 | 1220660 SoNH80
SoNH80's picture

Long.... Duk..... DONG!  Aiii!

Fri, 04/29/2011 - 10:59 | 1220452 RobotTrader
RobotTrader's picture

If I would have sacked up and executed the infamous "Ratio Trade" in January, I'd be dining at fancy restaurants instead of groveling for discounted scraps at Whole Foods and power chugging Monster Energy drinks all day long while sitting on the couch and eating potato chips all day, listening to all the used up hookers in my apartment building whine and complain about how hard life is....LOL...

Fri, 04/29/2011 - 11:45 | 1220482 topcallingtroll
topcallingtroll's picture

.

Fri, 04/29/2011 - 11:02 | 1220485 topcallingtroll
topcallingtroll's picture

Dollar store.

Really cheap food there.
I stock up all the time.
Also Big Lots.

Cheapest ammo is online though.
Buy in bulk.

Fri, 04/29/2011 - 11:03 | 1220492 Internet Tough Guy
Internet Tough Guy's picture

When will you interview Erik King? You must be scratching your head on gold. LOL.

ZSL screaming today, up 8%
RobotTrader - Tue, Apr 26, 2011 - 10:02 AM

Yep, the F12 punching, bit-flipping "sound money" hoarders are now ejecting en masse, giving the silver shorts some good gains today

Fri, 04/29/2011 - 11:58 | 1220727 lieutenantjohnchard
lieutenantjohnchard's picture

the old robottard still living vicariously through the lives of we few, we happy few, we band of silver holders.

look at the bright side: at least you have an excellent view of a smog choked los angeles freeway.

Fri, 04/29/2011 - 10:57 | 1220456 tekhneek
tekhneek's picture

> $1,600 at the end of 2011. LOL, way off. I see this at $1,850-$50,000 come 2012.

Fri, 04/29/2011 - 11:13 | 1220546 Cash_is_Trash
Cash_is_Trash's picture

Haha, death of dollar

Litter in the streetzz

Silver past 50, come on!!!

Fri, 04/29/2011 - 12:43 | 1220937 Treasure Freedom
Treasure Freedom's picture

If I woke up in November 2012 and saw Gold $5,000 and silver $175 it would come as NO surprise WHATSOEVER.

Fri, 04/29/2011 - 13:36 | 1221178 Temporalist
Temporalist's picture

It would only surprise me that the SGR wasn't lower (that is about 28:1 by your numbers).

Fri, 04/29/2011 - 11:00 | 1220475 cabernet
cabernet's picture

The fundamentals of easy money is providing a huge tail wind for higher prices for gold, silver and all commodities for that matter. What I think is truly remarkable is that traders are something like 95% bullish on gold and silver and 95% bearish on the dollar. It has been this way for a while now. This kind of sentiment is a good backdrop for a correction to shake out the weak hands and the new speculators. Yet, corrections are over in a day or two so no fear builds up. Prices simply march higher. These markets are truly something to behold.

http://www.TheAngryGrapes.Com 

Fri, 04/29/2011 - 12:48 | 1220962 disabledvet
disabledvet's picture

and yet "the price of cabernet is low."  so what could be the problem?

Fri, 04/29/2011 - 11:06 | 1220484 Dejean Splicer
Dejean Splicer's picture

Don't forget to set your program buy triggers at $3674. This is where accelerated buying will truly begin in earnest.

Fasten seat belts, deploy neck brace.

~D'jean Splicer

Fri, 04/29/2011 - 11:11 | 1220524 Cash_is_Trash
Cash_is_Trash's picture

I hope there isn't a beat-down at CRIMEX close.

Fri, 04/29/2011 - 11:14 | 1220541 Butchery101
Butchery101's picture

The fact that Gold, priced in Euros, has not shot higher in a move to get back to its December highs worries me quite a bit - has the Chairsatan managed to convince the Chinese to park their reserves in Europe or what ?!?

 

- "Hello World" -

Fri, 04/29/2011 - 11:17 | 1220550 rubearish10
rubearish10's picture

We'll find out when Euro corrects. Gold will outperform.

Fri, 04/29/2011 - 11:28 | 1220593 Butchery101
Butchery101's picture

Well, with all sorts of pundits like Hatzius (...) having correctly (luckily ?) predicted the EURUSD push towards the 1.55 range we're seeing lately, I am not that sure that the DXY downward move we're witnessing will encourage a Euro correction soon...

Except if all neighbouring countries drop the last trade support elements the Euro zone countries get from abroad these days - has anyone here noticed there had been a TERRORIST ATTACK right in the center of Marrakesh in Morocco ??

Fri, 04/29/2011 - 12:05 | 1220756 rubearish10
rubearish10's picture

True, true....using XAU/EUR as a quasi hedge vs XAU/USD. Working well here.

Fri, 04/29/2011 - 11:33 | 1220600 falak pema
falak pema's picture

The Oligarchy's strategy is now becoming clearer post QE : USD devaluates as this deflates the USD debt in real terms. China de-facto moves to Yuan-Gold/PM standard along with India. Russia joins in based on Oil base. We now have the foundations of paradigm shift away from USD hegemony, without destroying the WS bubble that deflates over time on currency and commodity inflation. As margins will fall WS will wind down during 2011/2012. This is the Long range plan, in current terms (LT is a misnomer when we are on the very edge). Euro benefits as the fall-back alternative transient state fiat, as its sustained by China. Knowing full well that when the USD will have caved in to abyssal levels by 2013 relative to new nascent basket, it will be Euro's turn to throw in the towel. We are into a mega deflation scenario to be controlled by intermediate inflation-stagflation mode to avoid that ALL dominoes fall at the same time. Can Benocide-China manage this spiral?

Will the renegades in the Oligarchy allow this to happen?

Remember that this is a zero sum game on Western front. The losers will be MAIN STREET USA/EU and also some of the Multinationals/PD banks that won't make the grade...There will be  blood...

Fri, 04/29/2011 - 11:14 | 1220551 Crispy
Crispy's picture

On the industrial metal side copper getting hobbled...

Fri, 04/29/2011 - 11:17 | 1220554 Verstehen
Verstehen's picture

Who needs enemies when you have politicians who encourage outsourcing and say deficits do not matter? That is called shizonomics. That is the phase where the Western world actually is. The establishment only hears their own shrill voices but they will lose against the law of economics and the law of mathematics.

When debt saturation is reached then the debt must be paid off. That means contraction, recession or depression. Its actually happening in the consumer sector. Shizonomics tries to prevent this at all costs but its not working. That means the economy is contracting and the official numbers are cooked. Its getting worse not better. The status quo want to rule not the truth out. They outsourced jobs for profits and blew one bubble after another. That is treason and has inflicted long-time damage to America.

Gold would move to 10,000 if the dumb masses would understand the underlying trends. The president actually is preaching what the masses want to hear - Shizonomics! He's a false prophet. Financial Armageddon is coming to America. The Fall is near.

Fri, 04/29/2011 - 11:39 | 1220631 falak pema
falak pema's picture

The only question is what will the Sieg Heil bunch like you see as issue...a Fourth Reich of white supremacy and a subservient Caliphate...like in the nineteenth century? Or some form of power sharing without looking at each other's dicks and pigment color?

Fri, 04/29/2011 - 11:18 | 1220556 Bansters-in-my-...
Bansters-in-my- feces's picture

Thats Benny's"Green shoots",with Golden Roots.

Fri, 04/29/2011 - 11:20 | 1220559 Double down
Double down's picture

Has any one kept an eye on USDJPY?  It is getting to that cliff again.

Fri, 04/29/2011 - 11:18 | 1220561 FunkyOldGeezer
FunkyOldGeezer's picture

Silver getting spanked (yet again) as I write. I'll be looking out for the Gold/Silver ratio and transfering to Gold, if and when.

This daily volatility is wearing rather thin on me, but opportunities to make money are raised playing it.

Fri, 04/29/2011 - 11:19 | 1220564 Missiondweller
Missiondweller's picture

CNBC just now: "There's plenty of silver"

Fri, 04/29/2011 - 11:30 | 1220598 Butchery101
Butchery101's picture

Yes, buried at the back of my Grandmother's garden !

 

 

Fri, 04/29/2011 - 11:42 | 1220651 tekhneek
tekhneek's picture

address?

Fri, 04/29/2011 - 12:13 | 1220800 Ruffcut
Ruffcut's picture

Underneath the fukushima nuke plant. That's where it's at.

They even make devices that will detect when you are getting closer.

Comex says that it is currently too hot for delivery and so mighty white to offer a cash settlement.

Fri, 04/29/2011 - 13:05 | 1221041 Piranhanoia
Piranhanoia's picture

hell, it's a byproduct of fission and good for everyone!  (Doorknob Trunk, just prior to falling off the boardwalk)

Fri, 04/29/2011 - 12:52 | 1220993 disabledvet
disabledvet's picture

Peru.

And Mexico.

And Arizona.

And Nevada.

And hujabujabujastan.

Fri, 04/29/2011 - 12:19 | 1220816 redpill
redpill's picture

Who are you going to trust, me or your Liesman eyes?

Fri, 04/29/2011 - 11:22 | 1220565 digalert
digalert's picture

CNBS cheerleader: Is silver a bubble?

Guest: Listen here you tramp, the dollar is what you need to worry about.


Fri, 04/29/2011 - 11:22 | 1220566 scatterbrains
scatterbrains's picture

copper looks like it's about to break down hard

Fri, 04/29/2011 - 11:40 | 1220652 bothsidesnow
bothsidesnow's picture

Go back and look at the 2008 commodity drop I think you will find that once copper broke down the other commodities were not far behind.

Oh I forgot silver is not a commodity it's real money, oh no wait it's rising because there is a shortage because it's used in industrial production. sarc/

Fri, 04/29/2011 - 16:03 | 1220855 GoinFawr
GoinFawr's picture

or both of those fundamental reasons, amongst many others

I mean, it's not as if those two things are mutually exclusive. Hell, even paper currency can be used to wipe an ass or blow a nose. See: commodity and a medium of exchange simultaneously. The difference is you can't take an ounce of silver or gold and keep adding zeros to the '1 oz' stamp on it and expect many to fall for your fraud, whereas you can take a gram or so of perfectly good writing paper, print as many zeros on it as you want, and the suckers like you will just keep begging for more.

There is a good reason that banks have always listed silver and gold as XAG and XAU respectively, you know.

Fri, 04/29/2011 - 12:53 | 1220996 disabledvet
disabledvet's picture

the rumor was "Morgan hedges silver with copper."

Fri, 04/29/2011 - 11:23 | 1220570 Bansters-in-my-...
Bansters-in-my- feces's picture

The Fucking Pig-Dog Manipulators are really smacking silver around today...

.............FUCK YOU, PPT readers.

Fri, 04/29/2011 - 12:57 | 1221004 disabledvet
disabledvet's picture

"and then silver went up again."

Fri, 04/29/2011 - 11:21 | 1220572 mynhair
mynhair's picture

Just push GPL down to 3.55.  Need to reload.

Fri, 04/29/2011 - 11:24 | 1220576 Dangertime
Dangertime's picture

I'm green again!  But that may only be momentarily.

Fri, 04/29/2011 - 11:27 | 1220597 Bansters-in-my-...
Bansters-in-my- feces's picture

If you are still holding US cotton when the ship goes down,you are an addicted ,delusional patriot.

Fri, 04/29/2011 - 11:34 | 1220611 Temporalist
Temporalist's picture

Even though I know what you mean, I'd rather have actual cotton than paper.

Fri, 04/29/2011 - 11:30 | 1220608 ivana
ivana's picture

Didn't read the whole linked doc which seems to be comprehensive description but would like to underline chapter 20.
That's where we stand now in western world and have to see how will PIIGS restructuring take place.
IMHO it will result with inevetable EUR decline and with global game changer - for western world!

Banksters will than have to conduct expropriation of valuable resources in different countries (one by one) while maintaining any sort of "growth" in already dead economies. Via corrupted and bad local politicians.
+ fight against emerging markets which will try to overtake whole finacial game ... they are not stupid anymore
Challenging time, isn't it?

Fri, 04/29/2011 - 11:34 | 1220622 chaunceyG
chaunceyG's picture

I can't take it anymore, my GLL goes down everyday.  Can someone please explain to me why people are still buying Gold at these prices?

Fri, 04/29/2011 - 11:36 | 1220629 Temporalist
Temporalist's picture

Because paper is what is thrown out in the trash.

Fri, 04/29/2011 - 11:40 | 1220641 Dangertime
Dangertime's picture

Sheep do what sheep do.

Actually, it's the bullish season for the metals.  It will end soon enough.

Fri, 04/29/2011 - 11:51 | 1220705 Pool Shark
Pool Shark's picture

 

I guess you're kinda runnin' outta time on your "silver will be below $45.50 by Monday NYSE open" prediction.

When Monday arrives, and you're proven wrong (again) I expect (hope) we'll have seen the last of you...

 

 

Fri, 04/29/2011 - 12:10 | 1220787 Temporalist
Temporalist's picture

"I expect (hope) we'll have seen the last of you."

Said the prostitute to her fetid weeping herpes sore.

Fri, 04/29/2011 - 12:46 | 1220954 Dangertime
Dangertime's picture

Hmmmm, unless you can find where I posted  *"silver will be below $45.50 by Monday NYSE open"*.....you are just another liar not unlike mosley.

Still afraid to rationally discuss the price of silver?

Why the fear????

Fri, 04/29/2011 - 11:53 | 1220701 falak pema
falak pema's picture

The only time I speculated it was in RE. I bought at a high which was not supposed to be the end. It was and I took a cold bath. I hope that I've learned my lesson. So I remember one thing : sell when every body's grand son is buying, so that you can buy when the cannons start firing. If you're still alive! 

 

Fri, 04/29/2011 - 11:38 | 1220627 Temporalist
Temporalist's picture

Some fat cow Scott Shelady on Blmbrg just said that silver is too hot, people will get burned, big banks aren't short silver and even if they were they could get out easily, silver has no reason to go up in value against gold, that because silver for the past 25 years was in a steady ratio with gold it should be at that ratio.

I am going to buy more silver today.

Fri, 04/29/2011 - 11:39 | 1220646 camoes
camoes's picture

I saw that as well! I guess we should trust the fatso with the cow suit.

He said that if the banks had the short positions it would show massive losses at the banks.

Discredited bloggers saying if this never showed up in the financial MSM, then it must not be true...

BUY SIGNAL!!!! LOL

Fri, 04/29/2011 - 12:35 | 1220909 Creed
Creed's picture

Temporalist

 

just don't discount the power of those brainwashers; most people are used to letting those xxxxxxxxxx do their thinking for them

 

they did the same full court press in January & did knock metals down for a short time

 

altho what's going on now smacks of a desperation play- ALL HANDS ON DECK PREPARE TO REPEL BOARDERS

Fri, 04/29/2011 - 12:58 | 1221008 disabledvet
disabledvet's picture

if i'm a bank with 10 tons of silver sitting in it why sell?

Fri, 04/29/2011 - 11:36 | 1220628 bothsidesnow
bothsidesnow's picture

Be careful for what you wish for the aftermath of the Weimar inflation was not pretty especially for those who swooped in and took everything from the native Germans.

Just sayin.

Fri, 04/29/2011 - 11:40 | 1220655 topcallingtroll
topcallingtroll's picture

A voice of reason.

You are either swooper or swoopee my mom used to tell me.

I am a.vulture, but i do not rip off dumb people who dont know the value of granny's silver like some posters brag about.

Fri, 04/29/2011 - 11:49 | 1220690 bothsidesnow
bothsidesnow's picture

From the looks and sounds of it seems like their are a number of people pissed off at about the Boomer generation here.

Seems like they would like to see them vanish or better yet exterminated.

I say to them also be careful about what you espouse or wish for you are sounding a bit extreme and this is sounding to much like Germany.

No one wins in a Germany like situation. No one, got it.

Fri, 04/29/2011 - 12:27 | 1220863 disabledvet
disabledvet's picture

so you don't believe in the "nobody wins" scenario?

Fri, 04/29/2011 - 12:33 | 1220886 Creed
Creed's picture

the Ticker Forum is full of boomer hate

also tons of ridicule for anyone drawing unemployment or social security despite the fact those people paid taxes into the system for just such a reason

 

very harsh statements indicative of a punative or cruel nature towards the old, feeble or unfortunate; they probably kick puppies too

 

there's a lot of 20-30 somethings that didn't get loved enough by their parents; you can see it in how seniors are treated by family at senior centers

 

Fri, 04/29/2011 - 12:34 | 1220904 redpill
redpill's picture

Uh, the baby boomers at the most are 65 years old, most much less.  So the people in senior homes are probably not baby boomers, and the 20-30 somethings who didn't get loved by their parents are probably their grandchildren, and the parents who didn't love them are probably the boomers.

 

Fri, 04/29/2011 - 12:41 | 1220939 Creed
Creed's picture

thanks for agreeing with me redpill :) it's nice to find an ally out here once in a while

Fri, 04/29/2011 - 13:06 | 1221031 topcallingtroll
topcallingtroll's picture

Real loving parents dont attempt to burden their progeny with excessive debt just because they cant accept a little bit of sacrifice in their medicare and social security.

Fuck off asshole boomer. You have already destroyed this country and you are just selfish putting so much debt on the children. History will remember the children of the greatest generation became the selfish generation. p>

Fri, 04/29/2011 - 13:18 | 1221093 Creed
Creed's picture

fuck off asshole boomer?

so the fact that my wife and I have paid in a combined 60 years of social security taxes makes me an asshole boomer for expecting to receive something back from that?

I think you have rocks in your head, along with a lot of misdirected hate.  Go fuck yourself.

 

 

by topcallingtroll
on Fri, 04/29/2011 - 13:06
#1221031

 

Real loving parents dont attempt to burden their progeny with excessive debt just because they cant accept a little bit of sacrifice in their medicare and social security.

Fuck off asshole boomer. You have already destroyed this country and you are just selfish putting so much debt on the children. History will remember the children of the greatest generation became the selfish generation. p>

Fri, 04/29/2011 - 12:08 | 1220773 Temporalist
Temporalist's picture

Where do you see posts like that?  I don't.

Fri, 04/29/2011 - 12:12 | 1220796 topcallingtroll
topcallingtroll's picture

It is fortunately rare but there was one fuctard bragging three days ago.

Fri, 04/29/2011 - 11:59 | 1220735 ivana
ivana's picture

That's how the real shit started.
And will start again in many different countries - first PIG, than others. Last USA

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