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Bloomberg's "Chart Of The Day" Is The Latest Amusing Attempt To Create A Gold Selling Frenzy
The barrage to get investors to dump their gold is on in full force, after one after another media outlet takes turns to guarantee that a day of profit taking in an asset that two days ago was trading at its time highs, and experienced an uninterrupted 30% run in the past year, means the rally is over pretty much in perpetuity. The motive is clear: get people to abandon the safety of hard assets and throw their lot into the ponzi scheme, based on one week of minimal inflows following endless outflows after the first and certainly not last Flash Crash. The latest such attempt comes courtesy of Bloomberg's chart of the day, whose disturbed logic is just left of alchemy. To wit: the shares outstanding of the GLD etf have declined, therefore you must acquit, or dump your gold. Immediately. And we wish we were kidding.
From Bloomberg:
Gold investors are showing “a lack of conviction” about the potential for further price gains after a decade-long surge, according to Vadim Zlotnikov, Sanford C. Bernstein & Co.’s chief market strategist.
The CHART OF THE DAY illustrates how Zlotnikov drew his conclusion: by comparing the price and shares outstanding for the SPDR Gold Trust, the world’s biggest exchange-traded fund backed by gold bullion.
While the ETF’s price climbed 13 percent from the end of June through yesterday, the total number of fund shares dropped by 2.8 percent. There were 421.7 million shares as of yesterday, according to data compiled by Bloomberg.
The decline contrasted with a trend since 2007 in which gold prices and the share count rose together, Zlotnikov wrote today in a report. The trust’s outstanding stock almost tripled during the period as gold soared to records, capping the metal’s five-fold increase in the past decade.
“We have been observing some loss of steam behind gold ETF inflows,” he wrote. “It seems particularly noteworthy” that the Federal Reserve’s decision to carry out a second round of bond purchases, or quantitative easing, failed to boost demand for the SPDR shares, the report said.
The gold trust creates and redeems stock in blocks of 100,000 shares, known as baskets, by trading with authorized institutional investors. The number of shares outstanding peaked at 433.9 million at the end of last year’s second quarter.
Next up: Bloomberg's chart of tomorrow, will show why the color of the solar wind as interpreted by Bob Doll, means today's freak red close will be the one and only correction of the year.
As for gold, investors are hardly concerned. After all, Buy the Fucking Dip works for other asset classes, not just stocks.
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GLD outstanding shares are down ~3%..........everybody panic.
What a joke.
Maybe people are wisely buying physical instead of ETF paper gold.
+1. Totally. I'm surprised Tyler didn't mention that. Seems rather obvious that if price is rising but GLD shares declining, physical is what's being hoarded.
And as AR in his video stated, I'm sure many large elites behind the scenes are buying physical and keeping quiet about it.
exactly! what do i know, i can't tell a chart from an orange peel, but this is also my intuition -- people with bucks are going to be laying in a personal supply of gold for a while now.
Yes I feel this lack of conviction as well. I'm suddenly looking at my Gold with the attitude that it's just a shiny metal after all, it's all in my head, *I* am the one 'thinking' this has value and hoping that others think that too. It's all just a big mind game really. Remember Berkely man?
Remember Timothy Leary man? It's like, it's all just whatever we want it to be man because really, perception is all you really have man.
The truth of the matter is that today, this day today, even the House of Rothchild realized that all 6,000 tons of gold they have stashed away physically under various abodes littered about the earth, that they too have been idolicizing a fairly common base material thing, Gold. Gold which is nothing but the metaphorical cream of silver. How silly of ALL of us.
Obviously we must discard this false thing now.
Ahhhh, Whatever!
Just wait until the imminent resurgence of POGS; it is going to happen. Bah, worthless my eye!
http://en.wikipedia.org/wiki/Pogs
/dbl sarc/
Feel free to discard your Au or Ag my way; I'll gladly pay the shipping cost(s)!
News media likes to raise strawmen arguements and make largish comparisons. Spot gold is dominating, even the miners can't keep up. Machinery hasn't kept up, and neither have retailers. Gold has crushed the markets on the knowledge it is a resource finite.
Who wants GLD? The GLD shareholder contract stipulates all but the largest five shareholders will be payed in FIAT cash. How could the paper contract compete with the resource, in this case gold, is not in question. Physical is supreme. Spot will dominate.
LH,
Therein lies the MSM's problem.
They do not think, nor do they question.
To them GLD is REAL GOLD,SLV is REAL SILVER, as far as they know, and they could care less.
They are purely shills and robots, spouting the blather off a script handed them.
For a piece of paper and frn's.
Buy the f...g dip, right?
Only on RTX, according to RT.
I would argue that the switch from paper to physical lately (physical being illiquid) will start to skew SLV/GLD as the physical holders put on or take off protective hedges via the paper (liquid) markets. So while no one is selling their physical holdings, they are quick to short the paper markets as they see the occasional weaknesses in the uptrend. Then BTFD, remove hedges, rinse repeat.
Better bury that shit where no one can find it, cause you can bet your sweet butt they are gonna come and try to confiscate it one day.
Well, what better way to start then by going to blogs like this one and identify everyone that says they own it!
Personally, I wouldn't worry about it.
For the record, I lost all my PM's at the casino.
That's my story and I'm sticking to it.
Good story. I got robbed of mine walking home. Couldnt make any of them out, it was dark.
What would they actually DO with it? It has no value in the public opinion -- yet.
birds are falling from the sky..
Only in Lib areas, concept.
Oh, the stench!
In Arkansas
In several places,100's of tons of fish washing up on South American beaches.
Along with a major kill in Ark, with the birds.( Major Jan 1st firworks scared them shitless.flew into everything.
Wonder why it doesn;t happen on the 4th?.
Forget your earthly life, is the sea turns red.(BP Leak finally seeing the damage).
New reports of birds falling out of the sky in Louisiana:
http://www.thestar.com/news/world/article/915812--450-birds-found-dead-in-louisiana?bn=1
I think that the BP connection hypothesis makes sense but we will never know if there is a link or not.
Dead pelicans in North Carolina...
http://www.starnewsonline.com/article/20101227/ARTICLES/101229751
http://www.isurfhopkins.com/local-news/9262-new-information-in-massive-b...
I found a dead blackbird in the grill of my truck.
Y'all think it's related?
chemtrails spraying, in overdrive today in SO CAL
Yes, in blatant FU overdrive the 1st, 2nd, 3rd, the 4th, and today. Jan 1st was a singularly beautiful day without 1, not fkng 1 cloud in the sky. Then the oh so epic and magnificent display of those white KC's beginning at 11AM painted half the sky (N/NE/E) white in 2 hours, and made a mess of the W and S. Even the kids and elders watched in disbelief as we sat outside imbibing mimosas.
Regarding the Chemtrails, you can neutralize most of them in your area.
Check out www.orgonite.info, has instructions for building a cloudbuster, that, along with some tbs around your town, and the chemtrails will disappear over your area, no joke.
I have said many times in the past that the final move in the gold and silver markets will be a violent move DOWN to zero as everyone realizes they are fraudulent. Physical will disappear shortly before this time.
On the plus side, those big screen TV's people have in their homes might just turn into a nice little nestegg, as they each contain ~1/10th of an oz of silver each.
Dem TVs now have gold contacts, to boot....
Channeling A/FOA.
Ain't nothing wrong with that!
Assume TM, you mean PAPER ETF's.
Not just the ETF's, but ALL paper vehicles. Any vehicles that actually have the metal they claim to will have to PROVE IT, in a big way. They'll probably need independent auditors to come in and pick bars at random and cut them in half on camera, then assay them.
Pure irony, this situation we are in.
Should the price continue to rise, expect physical to dry up due to hoarding. Should the price fall, expect physical to dry up due to hoarding. Trust in spot$ is on the same level as trust in CPI.
I Fester
So CEF, GTU, Sprott's gold and silver funds or ETFS physical are not safe? So how safe will Canada be or their trust companies when the world is upside down and fiat is worthless? I would not expect the Internet will be working too well then either.
They are only safe if they really and truly have the gold and silver. This is the nature of counterparty risk.
Worse, even if they do have the gold and silver, what happens if a floundering Canadian government decides it needs that gold and silver more than you do? Best to keep it quietly in your own home, or somewhere where only you can get to it.
A likely scenario, IMHO.
I find it telling, and disturbing, that we are close to seeing physical supplies as tight as they were in late 2008, when we had just experienced an almost unprecedented selloff in the precious metals, DESPITE the fact that today prices are at or near their record highs! Something is wrong with this picture.
totra, tora, tora,
buy, buy, buy
fuck those motherfuckers.
So Maples or Eagles? Discuss.
Koalas. They're so cute, the women mob you in bars!
It's a two-fer!
Koalas have that nazi-inbred-elitist tramp on the back- I dont like em :)
Eagles are the coolest, Maples cost less.
And Philharmonics are the cheapest (at least in the EU).
I also like the Libertads.
In silver, I have only Eagles no Maples. If the silver Maples are as highly polished as the gold, I would say they are a prettier coin.
I remember the first time I showed my wife a Gold Maple up against a Gold Eagle. She asked me if I was sure the Eagle was real. So I called the guy I bought it from with my last dime bag and he promised me it was. Guess I'm golden.
Eagles for me (US resident). More recognizable. Worth the extra premium to me.
Also, there are lesser reporting requirements re selling US PMs than for foreign gold and silver (last I heard, so that information might not be good anymore).
Believe that's still true: selling 25 krugs or maple leafs or Mex. onza? triggers automatic 1099 reporting. Same with bag of junk silver....
Maple leafs sure are pretty tho..
There are some very good places where you can sell silver coins from whatever country way above premium.
These networks are also used to buy silver without any trace and without the use of Visa cards.
Cash of wire transfer.
You may make a guess who uses these and with what kind of money.
You can see all the transactions passing, and it's like every second hundreds of silver and gold coins are traded, mostly by german buyers.
PLs doc that, never heard of that rule.
It comes down to no info needed when buying, to YOU & Yo Mama when selling.( Esp a SS, for the 1099)
This has been the rule as long as I have bought and sold,you sell, the IRS assumes it is NEW income, guilty till proven innocent.
Cost basis, v.s. Purchase price/sale.
If I have any PM's left that I didn't lose at the casino,
when it comes time to "sell" them I believe I will
"sell" them for something other than $US. A 1099 or
anything else of that nature will not be in the picture.
Australian Kangaroos. Low premiums (see Tulving), good packaging that protects each coin, and attractive coin.
Neither,
Rounds/Bars.
Silver is Silver.
Why pay a premium, when you can own more Silver?
+1000
Can't believe some idiot junked you.
Absolutely, and 100 oz. bars stack nicely.
By the time we begin to use (spend) this stuff
everyone will recognize the real deal. It won't
matter what they are. I bought my test kits for
both metals long ago.
Not Eagles and not Buffaloes -- none of the U.S. stuff. I can't abide having my PMs stamped with that ridiculous "In God We Trust" bullshit. It's bad enough to have Bronze-Age superstition leaving its mark on U.S. fiat currency, especially for a country with an explicity secular constitution.
That's why I make sure I buy only coins with a Monarch's face on it.
Until the MSM feels they are leading the parade they will always disparage gold. Once they are given the role of enlisting the last 20% of the suckers at the top, then they will be told to pump gold like its...gold! Once you see unanimous unwavering pumping of gold by all MSM, then start your exit. Until then, its just a ride, as you ride it up.
Six stars. Well said TD.
Citibank fraud: Sanjay Gupta, AVP of Hero Corporate Services arrested
more here: http://www.degaray.com/updates135.html
Now hoping for dip this moring in some silver and gold shares, here in Aussie.
I can't help feeling that those insane FED minutes had something to do with todays metals action. Either a pre-action or reaction.
Seriously folks, those FED comments are the scariest shit yet. Not only is the Bernank incompetent, he may be INSANE. I believe this was the quote (sic)
"....because rates rose as a result of QE2, indicates that QE2 lowered rates."
CJ,
Insanity is prevalent these days. Desperation even more so. I expect TPTB are quite desperate and desperate people do desperate things hence QE2, 3, 4 etc. until collapse.
Yes, I better sell my gold. They told me to. No reason, just lots of no reasons why it is very scary to own gold. Media pours on bs.
http://www.marketwatch.com/story/no-obvious-culprits-in-golds-big-drop-2...
For those that were scared into selling, stupid is as stupid does.
Time to pick up the miners on a pullback!
Which miners?
AEM, GG, GSS, ANV, NGD to list a few of the good ones. I also like Barrick.
~Misstrial
The "hotline" connects the press to the WH now. Scripts are written by the sales staff, saliva is readied, actors drool and spew. And everyone from the drooler to the waxy ear knows its all crap. Now that's entertainment!
i dk if u guys ever read the other "charts of the day", most of them are equally as looney. its like an half-wit with an opinion predicated on fairies is allowed to submit to it. And then the equally half-witted editors decide to not screen anything. absurdity.
What fucking nonsense. Most sane people have been waiting for a pullback to accumulate more, especially physical. I need the Lunar series II rabbits to keep that set going.
I added to my miner positions EOD today and will continue to do so until...the Bernank is indicted, Geithner fired and Obama resigns.
I still cannot find more than 2 people who own gold. Corrects for a few days or a few weeks and the weak holders panic. Right, buy CMG. Burritos are the future of this planet.
Makes me want to get out my beads and start the chant again.
I still cannot find more than 2 people who own gold
Hell, your ahead of me,if they do, no one will admit it, everyone I bring it up to says its too expensive!.OR, better yet, I would have to sell some STOCKS!!.
And these are well heeled folks.
I've been trying to convince my friend to buy just 3 gold coins...one for her husband, her child and one for herself. She told me that she and her husband discussed it and didn't know where they would hide it. I thought that was interesting...at least they know it's worth hiding!
Borrow a post hole digger.
Bag Balm, The greatest. Use it on my feet everyday.
APMEX sells these cute little (5 or 2.5 gms) Gold pendants...
Gold burns so buy a fire-proof safe such as this one here (notice the silver coin in the safe):
http://www.walmart.com/ip/Sentry-Fire-Safe-reg-Security-Chest/882239
You can always bury them too - buy a short length of plumbing pipe (plastic, like under your sink) making certain that each end (2) has threads for screw-on plumbing end-caps.
Buy two end-caps (should be located next to the pipe parts), and voila - you now have a waterproof "safe" you can bury out next to a tree or outside your window (for example).
~Misstrial
Tell them to find a burgler in thier neighborhood and give it to them. That way their gold will be as protected as thier dollars are and they have that kind of awesome security.
Tell them to find a burgler in thier neighborhood and give it to them. That way their gold will be as protected as thier dollars are and they have that kind of awesome security.
All together:
Hare Krishna, hare Krishna.
Krishna, Krishna, hare, hare.
Hare Rama, hare Rama!
Rama, Rama, hare, hare.
Poke .. Respond .. Poke again
Yawn
Impressive road marker none the less. Impressive for many.
I've just sold all my gold yesterday, and bought some AAPL with it.
It was a pleasant speculative move to play, with success -- but now, it is obvious the yellow metal is oriented towards a lenghty correction.
Those who think gold and silver will perform well in the coming decades will go from delusion to delusion.
Troll the trolls - love it!
u sold all your gold and bought AAPL? u are joking, yes?
Fool! They were the Golden Aapples of the Hesperides!
The sign of a bubble popping is the universal sentiment that its going higher and all dips are being bought with the utmost urgency.
That is what is happening in gold right now.
Same thing happened with tech stocks in 2000 after the first big crack.
They were still buying dips all the way into 2001. By 2002 they got slaughtered by selling out at the lows.
pixels aint shit. (refrain from identity crisis)
paper price discovery aint shit.
ebay speaks.
@Robo. Keeping a open mind on all markets.Does Dennis Gartman and all of the CNBC Traders on Fast Money telling everybody Gold is done a contrary indicator? Or are they not part of the universal sentiment? I ask because they are always wrong on all market calls. They are bulls on the market too. Hmmmmm. Which Way Robo?
I thought you were an established trader...is it a bubble when a large percentage of the investing community and public are under invested in precious metals or not invested at all...prices are considered a bubble when everyone that wants to or has the ability to invest has already invested.
The fact that people like you, and practically every paid pundit on mainstream websites, is busy constantly talking about the bubble in gold is proof we're nowhere near the top.
Stocks, however, at present see their most bullish point for years, and every puppet is busy trying to talk up the market... but that isn't a bubble. Right?
What? You've been touting the same behavior in this pig market for 2 fukking years!
Now it's bad? No wonder we get no titty pics. Where is RobotTrader and what have you done to his ass?
You are nuts... there is no "universal sentiment" among investors or the general public regarding precious metals... people who buy precious metals are a small minority -- unlike the millions who bought tech stocks.
This desperate and almost hysterical thesis is so utterly full of shit, it is not even worthy of response. To even compare equities in the 1990s or 2000s with holding gold today, which is still universally scorned, mocked, ignored or attacked by virtually every mainstream pundit and by Wall Street banksters and their lackies, is insulting to the intelligence and just another sign of the blinkered, pro-paper Ponzi sentiments of anyone trying to suggest it.
You are so incredibly stupid. What is your malfunction?
Bubbles don't occur in in assets where there is no public participation. This is newbie shit. You call yourself a trader? You're not fit to make change.
As long as the US prints dollars why should anyone sell PM's?
I see the FED printing AT LEAST $28 BILLION dollars over the next 3 days.
Robo Homo -
Why should I sell my gold?
Universal sentiment still doubts the value of gold. The article is pessimistic on gold. The time to worry about gold is when the news stories are fawning over gold. That is hardly now, or anytime soon. There is a great deal of sentiment against gold, I see stories nearly everyday trying to deny gold's rise or merits. During the tech bubble, EVERYONE was buying tech stocks. How many people do you personally know that own gold?
If anyone is worried that there physical pm investment may turn down in value, just buy slv puts a few months out to cover your position. If we get a substantial correction, take profits and reinvest it in pm. Personally I would love to see gold at a price where I could buy an ounce with an average weeks net pay again, but I dont believe for a minute that will happen.
Well done, Hamy.
lovin these troll imp names, "topcallingtroll" and "hamywanger"
very good.
add Cdad...total pissant
you remind of the IMF. Sold your gold several times now. I recall 3 weeks ago you stated you sold your gold if memory serves me right. Is it the same gold?
My Bad , you must be a derivative of Harry Wanker
He is actually a derivative of a derivative if I am not mistaken...we have Harny and now Hamy.
A Harry Wanger Imposter??
WOW, you must have no life, wanting to impersonate that dipshit.
i don't believe you really bought AAPL -- maybe you are just egging these guys on ;)
!!! Great day !!!
Bought more gold.
Bought more silver.
Bought some gold miners.
Bought some silver miners.
Still have just a little powder dry... but not much!
Great Panther Silver was 8% down today and still above it's 50 and 200 dma with +momentum - couldn't resist either.
the chart patterns on both gold and silver stinks.
If I had a dime every time someone last decade told me that.....
Oh wait. I do!!! And I do because I have converted almost all my fiat paper into gold and silver every time they pull back.
Amazing how fools can look at random 3%, 5%, 8%, 13% pullbacks in the middle of a 500% gain and get so terrified... or disingenuous perhaps?
duplicate
gold, bitchez† no i am serious this time. when gold goes viral, i will have to stop wearing my beautiful gold jewelry. darn, will just have to wear it around my house and dance and sword fight to myself.
velobabe,
PLEASE tell us what your Avatar is.
Its driving me batty.
Looks like a semi nude dude,chick, getting ready to go Frog Gigging.
Their side - the average DOG hedge fund - had returns of 5 or 6 percent in 2010.
Our side - those who understand commodities and Gold as long-term secular growth sectors and trade them accordingly - had literally off-the-charts returns in 2010.
They're jealous, pure and simple. We've built our stakes. They want to steal them. Because after all, they are the Anointed Ones with special privileges - or Not.
The number of shared dipped because people are waking up to the idea that they should own physical gold instead of dubious ETFs.
I started buying gold with ETFs in 2005 but I'll never buy any more paper gold when I can have the real thing.
++
That's it. I'm selling all my gold and buying GOOG.
Bad day for the PM's? Hell NO - here's Gold and Silver's response to the Cartel:
http://www.youtube.com/watch?v=fa0KZFz-az4
Best reason I saw in the MSM for Gold getting "slammed" (as if) was that it was due to "optimism about the global economy ". Now maybe there is something I'm not seeing but if everyone is so optimistic about the global economy, why is oil down too?
Interesting chart,.... the lows in outstanding open interest could just be a bottoming, and if it is, it means that we should expect a major inflow of interest again which would logically drive gold higher, would it not? The problem isn't with the chart, but with the translator again. He sees what he wants to see, but that might not be what is there. In any event, I hope he is a man of convictions and is short up to his eye balls.
Wouldn't be surprised to see GLD test the 200 day, if that's the case, no...wouldn't be buying the "dips" any time soon as the next leg down could be a painful one!
It's currently at its 3mo low channel, another $85 to get to the 2yr. If your trading buy here, with powder left for a buy near $1300.
Gotta have skin in the game to Fester.
SORRY- GOLD/SILVER IS A PONZI SCHEME TOO!
What makes it so is the bigger fool theory and how markets are financed these days. Gold in and of itself is a hard currency in normal times. These days are far from that! This hard currency has been in a bull market for 10 F ing years. Gold/silver is being financed by fed policy as policy relates to giant banks like JPM and hedge funds like Paulson's. Furthermore retail customers have been touted like nobody's business and is now all in.
Cliches like gold is a store of value miss the point. GOLD/SILVER are now a bubble currency just any other currency that is free to trade everyday 24/7. It has been, like real estate 10 years ago, propped up by every imaginable financial tool known to man. Derivative mavens, carry traders, horders, crooks, touts, fools and the seamiest sorts are all involved on the long side as government policy has made shorting almost anything suicidal.
While ZH rails against BERNAKE and QE for his bubble policies the ZH crowd clings to gold and silver, which is immune from severe downside?? While ZH uses retail as a contrary signal for trading currencies, ZH ignores retail gold/silver bullish sentiment while urging the metal higher. A dangerous mistake!
PLEASE KNOW you are playing a bubble that will go down as soon as perceived QE2 benefits has worked through this FEDERALLY RIGGED market. GOLD and silver will be converted into profits by the Institutions and I predict the pocess is just begining. It was a great trade but all good things must come to an end.
Looks like you were too slow for "WTF", huh?
Curious why you didn't choose Master Bates 2, or Johnny Bravo 2. I'm sure those are still available.
Well said. WTF. Far better than I could. Particularly the reference to retail sentiment.
What short mechanism do you subscribe to incidentally?
As well, I've got about $20MM liquid to plung into that GS Facebook SPV. Can anyone point me in the right direction?
(d)
it's true that people here ignore their own hyper bullishness about gold when they take similar hyperbullishness about stocks to mean that stocks will crash. my instinct though is that it even if gold crashes now, it will become popular again. when the next crisis hits...
I can only hope that the declines extend all week,
so that at the end of the week I can *really* buy
on the fucking dip.
Gold at triple top! How do you sell a 100 tons of gold at $1200? Run it to $1400 first!
We will look back in a few years at GOLD/SILVER prices today and laugh our asses off!!
Oh the wisdom..
Give us your unbiased opinion and advice on where the money that is supposedly leaving the PM trade is going to?
What are the paper profits worth when the underlying asset, the paper is becoming increasingly worthless?
Spare us. You don't have the answer and no, this is not a repeat of an earlier decade when the USD was respected and accepted as hard currency.
The USD is the bottom of a joke like the Ruble was.
Sell all your PMs if you like. Take those paper profits while you can and stuff the paper in interest bearing electronic cash accounts.
Good luck with that strategy.
Sell them to me!
Did you ever get a mangy, beat-up, tattered $20 bill and go "WTF is this piece of shit"; on the other hand, I never met a piece of gold I didn't like.
A family of five can barely eat for $30 at McDonalds.
But you can own a full oz of silver for that much.
I knew many a pathetic soul in the early 80's that lost it all in GOLD/SILVER. When the hostages were released after Reagan was inaugerated gold dropped 10% in one day! Half the COMEX went belly up, seats prices collasped it was a mess.. Every bartender and cabbie in NYC went broke as retail types lost it all. It took almost 30 years to break even on that trade. The silver dudes are still down 50% so do'nt give me that happy horseshit that hard metal is king. A smelly twenty dollar bill in a money market fund since 1980 is worth at least fifty dollars!
what are you talking about? the dollar is worth loads less now. money markets give no interest. and by the way...where is your dude reagan now?
ii knew many a pathetic soul that continued to believe in the corrupt form of america in the 21st century....they just loved it so and thought the dream would go on forever, while the culture became one of constant war, corrupt finance, torture and loss of liberties. but hey....its the red white and blue and lots just keep the dirty machine going. hahaha. lets buy lots of shit apple stock and ge and how about monsanto....cuz like we want to make lots of shit money from these crap corporations...yeah man ...monkeyhammered!
You have no idea whats going on the shadow banking sector do you , its over - it cannot extract any more capital.
There will be little or no yield on debt - all that epic money creation built up over the decades will run to Momma.
Do yourself a favour and take a weekend trip to Ireland or Greece - when it finishes here its going global.
Have you got any tickets ? - some people are getting desperate.
www.youtube.com/watch?v=Cf5X-f72dp4
http://www.youtube.com/watch?v=PIb6AZdTr-A
HAHA - it wouldn't be funny.............unless you were truly serious.
http://www.youtube.com/watch?v=kYXKlUob5Zg&NR=1&feature=fvwp
According to the BLS CPI Inflation calculator (which in itself is utter bullshit to the downside), $20 in 1980 has the same purchasing power as $53.11 in 2010. So, it looks like 30 years in a money market has yielded you exactly -$3.11. Nice work.
http://data.bls.gov/cgi-bin/cpicalc.pl?cost1=20&year1=1980&year2=2010
(d)
Really, you knew so many who "lost it all" in gold and silver? That would be odd, considering that the prices of gold and silver never went to zero. But anyway ...
Funny how you fail to mention that the prices of silver and gold were only even within 30% of their 1980 peaks for a matter of a few days or weeks, and that the vast bulk of the buying in precious metals in 1979 and 1980 occurred when the prices of both metals were far below their peak prices. Only the most disingenous and ignorant agenda-peddling sophist would take the prices at a market top as some sort of "proof" of anything.
Also funny how you neglect to mention the vastly, almost infinitely greater number of people who truly lost most or all of their savings in the NASDOG bubble of the late 1990s (in which many stocks, unlike gold or silver ever, DID fall to zero), in the Asian Currency Crisis in the late 1990s, in the Argentinian currency collapse of 2001-2002, the Mexican currency collapse of the early 1990s, the simultaneous Russian hyperinflation, not to mention Zimbabwe and Brazil and Yugoslavia and Ecuador and any number of African nations and Brazil in the 1990s and Argentina in the 1990s and Brazil in the 1980s and Bolivia in the 1980s and Brazil again in the 1970s and so on and so on and so on .......
that only convinces me more that gold is the way to go, silver and agriculture as well.
these manipulative people. they always over value the u.s. dollar, overvalue their ge and their apple.
but gold, silver, oh no....it must be a bubble about to pop. oh yeah? maybe the establishment in this country is a bubble about to pop? i think more the latter. too bad for them.
Yes there is a time and place for smart moves, when interest rates were nearly 16%, I dumped the PM's and parked the cash in a savings account - when gold was at $250, it was a time to jump in with both feet. Yes, there will be a time to dump gold, but my kids will see that, not I.
Thank God for bigger fools! Hope we never run out of them! Even a sucker born every minute can not support GOLD/SILVER forever. Hope you find a buyer at a level that makes you happy... Good trading.
Trading ? - do you think Europeans in general trade ?
It is clear that you have a weak tactical mind at best - this is a strategic game of prisoners dilemma.
The only logical response in a world without trust is to defect and get physical.
The only logical response in a world without trust is to defect and get physical.
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Well said DORK! Strategy is what is needed re PMs. not tactics...
It's not trading. Ever heard that old Chinese proverb... "Saving is good, investing is better, but hoarding is best"?
I disagree - Investment is best but when commercial banks abuse their credit monopoly and the CBs protect their mistakes at all costs by incorporating their losses on "our" currency balance sheets, well there can be only one response.
I am buying and holding Gold because the central authorties refuse to invest in capital creation.
PS houses and junk is not capital in my book - they are loss engines of consumption.
The Chinese were probably a lot more familiar with hard times than you?