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Crude Back At $100, Highest Since June 15, Going Much Higher Courtesy Of European Monetization Start

Tyler Durden's picture




 

Courtesy of the IEA which earlier loudly announced 'No More SPR Releases' (although like the ECB earlier announced it would not accept defaulted Greek debt as collateral only to reneg, this is total bullshit), and another massive taxpayer funded iteration of EFSF monetization-infused moral hazard, crude is back to $100. Since the EFSF will very soon be expanded to over $1 trillion and since this is nothing less than Europe's version of QE, and paradrops money that just like the Fed's own daily POMOs will ultimately find its way into the market, as holders of toxic Greek debt shift their assets into risk holdings, we expect crude to surge to $110, then $120, then $130 and so forth until another global depression has to be called in. And, naturally, the same with every other hard asset that can not be diluted.

 

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Thu, 07/21/2011 - 11:08 | 1477162 papaswamp
papaswamp's picture

Brent closing in on $120...great for European economies right?

Thu, 07/21/2011 - 11:11 | 1477176 Clueless Economist
Clueless Economist's picture

Hah I welcome $5+ Gas...I want to see Obamanomics crushed.

Thu, 07/21/2011 - 11:19 | 1477203 SoNH80
SoNH80's picture

$5.50 heating oil might be a joke for you, but for my friends and family, it means a long, hard winter.  This is reality, but you don't have to be such an a-hole about it.  The only crushees are the middle and working classes.....

Thu, 07/21/2011 - 11:22 | 1477222 mayhem_korner
mayhem_korner's picture

Check out wood pellet stoves if you can install it in your place.  Pretty quick payback at $4+ heating oil...

Thu, 07/21/2011 - 11:27 | 1477245 SoNH80
SoNH80's picture

The wood pellet mfg.'s always seem to price just about at oil prices on a per-btu basis.  Shipping goes up during oil spikes as well.  Replacing the ol' reliable dino-juice burner is $$$$$$ as well, and we have strict fire codes that make stove placement problematic in our Cardboard Acres home.  We'll just set the ol' thermostat at 58 again.....  

Thu, 07/21/2011 - 11:44 | 1477308 Pure Evil
Pure Evil's picture

Well, as Jimmy Carter once opined, "put on a sweater and enjoy the malaise".

Not to be confused with mayonnaise.

http://www2.volstate.edu/geades/FinalDocs/1970s&beyond/malaise.htm

Thu, 07/21/2011 - 11:59 | 1477330 hedgeless_horseman
hedgeless_horseman's picture

We could invade Canada?  They have plenty of wood and oil.  I have done a lot of research, and Canada is closer to the U.S. than Iran!

Thu, 07/21/2011 - 12:04 | 1477368 Oh regional Indian
Oh regional Indian's picture

Hey, energy solution for you. Dress warm. It's so simple. Here in India, in the north, in the plains (New Delhi etc.) it get's down to 32 degrees and no one has central heating and we have those terrible, british mandated (in 1922) concrete and cement and brick housese that are freezing in the winter and boiling in the summer.

In the winter, people just dress in many layers. Sleep in wollens, covered by wollens.

But we face the cold much more, it toughens you. Thoreau bemoaned excessive heating as one of our biggest weakeners.  Running hot water is too much of a luxury.

It's really not that hard. I've lived in upstate new york through two super harsh winters. Poor man's solutions. Oh, and don't sit and drink cold soda in a heated home. Drink lot's of teas.

It's really necessary to cut back. Before your back is cut for you.

ORI

http://aadivaahan.wordpress.com/2011/07/16/66th-anniversary-of-trinity-and-thoughts/

 

Thu, 07/21/2011 - 12:13 | 1477412 hettygreen
hettygreen's picture

No need to go through the expense of an invasion when we have been just giving it up for the last twenty five years. Unless of course to thwart the Chinese 'beach head' in Vancouver. I for one will welcome our new Asian/American overlords. They can't be any worse than the Harper despotism.

Thu, 07/21/2011 - 13:25 | 1477754 The Architect
The Architect's picture

LOL. +1

Thu, 07/21/2011 - 11:59 | 1477343 HungrySeagull
HungrySeagull's picture

We were raised on Coal then Oil. Oil was a luxury. Now we heat on Nat gas. So much cheaper than oil.

ZI think our old home needed 2500 dollars in oil to heat the winter back on the east coast. Down here in the South we only paid about.. 120 dollars to heat off Nat gas plus firewood chopped off our own timber.

It is theoratically possible to eliminate costs by converting to Solar and Geo over a long period of time. Same for cooling. Last year we burned 1700 kWh high summer and now we are only using roughly 540 kWh at the most. (Several hundred dollars knocked down to 35 or so) However it took a 8000 dollar replacement to make it happen.

Oh an about a thousand dollars worth of blown insulate material 6 feet deep in the center and 2 feet in the corners of the roof above us. 115 outside and 80 in here and sufficient to keep the computers pretty cool.

We once supported Oil in Alaska over a winter and that worked out to about 700 dollars per month. We made it happen until we sold the place but damn it... it hurt.

Don't choose to tolerate a life somewhere that sucks so much out of life, your money and makes you miserable. Stop banging yourself on the wall so much. Relocate somewhere else where things are better. It may not be high living, but is slower and easier on you.

Cheaper too.

Thu, 07/21/2011 - 12:10 | 1477393 SoNH80
SoNH80's picture

I hear you, Seagull.  It's the old family-friends-job-familiar territory dilemma. Maybe someday, I'll build that hut on a warm Pacific island.... I think I'll bid you all adieu ZHedgers, I've learned a hell of a lot from you all, but at some point, anger overload sets in about what's going on today.  This was a good place to blow off steam, but learning even MORE about how they're getting us can be a tough row to hoe cumulatively-- layers and layers, ignorance is bliss vs. knowledge is power.... keeping the wheels on vs. taking a stand.... you all know about that. We'll see how things go, *maybe* there will be a change for the better, but in the meantime, peace and good luck.

-SoNH80

Thu, 07/21/2011 - 12:18 | 1477428 HungrySeagull
HungrySeagull's picture

See you on the beach, Been thinking about a small Ocean Going vessal myself and use the Intracoastal waterways to shuttle between the seasons making our way as we go.

 

Yea one can get very angry reading ZH if it gets to them.

Thu, 07/21/2011 - 11:55 | 1477339 francis_sawyer
francis_sawyer's picture

Insulate the walls with empty beer cans...

Thu, 07/21/2011 - 12:43 | 1477524 magis00
magis00's picture

chaff for metal detectors, too. bonus!

Thu, 07/21/2011 - 11:22 | 1477223 Azannoth
Azannoth's picture

They only thing that supports the current system is the middle class, we won't get any revolution till the middle class has nothing more to loose

Thu, 07/21/2011 - 11:30 | 1477260 SoNH80
SoNH80's picture

Too bad the idle rich can't take the ball and run with it..... too busy sailing between St. John and Maine I guess...

Thu, 07/21/2011 - 11:34 | 1477277 Spastica Rex
Spastica Rex's picture

Blaming the victim.

But TRUE! 

http://www.youtube.com/watch?v=CyWw8ry-yiQ

Thu, 07/21/2011 - 14:25 | 1477988 ItsEvolutionBaby
ItsEvolutionBaby's picture

LOSE LOSE LOSE LOSE LOSE LOSE LOSE LOSE

Write it out 100 times.

Thu, 07/21/2011 - 11:23 | 1477229 French Frog
French Frog's picture

Can anyone recomend a good board/blog/website for daily trading/commentary on crude?

Thu, 07/21/2011 - 11:29 | 1477253 SoNH80
SoNH80's picture

Not a bad place to start....

http://www.theoildrum.com/

Thu, 07/21/2011 - 11:37 | 1477288 Spastica Rex
Spastica Rex's picture

For trading purposes?

Thu, 07/21/2011 - 11:39 | 1477292 SoNH80
SoNH80's picture

They have a gazillion links along the left side of the screen.  Peruse around.

Thu, 07/21/2011 - 11:42 | 1477300 Spastica Rex
Spastica Rex's picture

I'm there frequently and never looked past the center column. Learn sumthin' new every day!

Thu, 07/21/2011 - 12:40 | 1477503 LFMayor
LFMayor's picture

weren't you just leaving?  Anger management or something?  I read that if you have bunyions acting up on your mangina that heating oil will soften them and ease the pain.

Thu, 07/21/2011 - 11:28 | 1477250 lunaticfringe
lunaticfringe's picture

Geezus. Lighten up Francis.

Thu, 07/21/2011 - 11:57 | 1477346 francis_sawyer
francis_sawyer's picture

You just made the list buddy...

Thu, 07/21/2011 - 11:30 | 1477257 SheepDog-One
SheepDog-One's picture

'This only crushes the middle and working classes' then get off your ASS middle and working class and crush THEM! 

Thu, 07/21/2011 - 11:32 | 1477269 SoNH80
SoNH80's picture

I'm voting for Ron Paul in the NH Primary.  Best plan I have thus far.

Thu, 07/21/2011 - 11:40 | 1477293 Spastica Rex
Spastica Rex's picture

I'm not voting at the national level ever again, period, because I won't do anyhting that even appears to add legitamcy to this fully corrupt system.

Thu, 07/21/2011 - 11:43 | 1477303 SoNH80
SoNH80's picture

You are 100% right, but voting for RP will make me feel better, and his winning in NH might make the swine sweat a little. 

Thu, 07/21/2011 - 12:07 | 1477369 hedgeless_horseman
hedgeless_horseman's picture

Vote a straight WON AND DONE ticket, especially for judges.  That is, vote against all incumbents...term limits instituted by the common man.  Drives up lobbying costs.  Drives down legislative productivity.

 

Thu, 07/21/2011 - 13:13 | 1477706 LFMayor
LFMayor's picture

excellent.  +1 forced term limits

Thu, 07/21/2011 - 11:22 | 1477219 dbach
dbach's picture

I hope you own good walkin shoes. Sucks for suburbanites though.

Thu, 07/21/2011 - 12:01 | 1477361 HungrySeagull
HungrySeagull's picture

Shoes?

 

Get a pair of Belleville Vibriam USMC Hot weather vehicle boots. No trouble.

Thu, 07/21/2011 - 12:06 | 1477383 hedgeless_horseman
hedgeless_horseman's picture

Their 220 DES ST Hot Weather Safety Toe Boot is better, because the sole is sewn on instead of glued.

Thu, 07/21/2011 - 12:52 | 1477572 magis00
magis00's picture

merci bien

Thu, 07/21/2011 - 11:30 | 1477255 wsmith
wsmith's picture

Obama has no power.  He takes his orders like all the other serfs.

America no longer exists.

We are now the United States of Goldman Sachs.

But what the fuck do I know.

Anyway, so long.

And God Bless all you Marxist cocksuckers.

http://geraldcelente.proboards.com

Thu, 07/21/2011 - 12:00 | 1477358 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

No.  We still have the power.  Goldman Sachs controls nothing unless you want them too.  How many millions of us are there.  How many Walled Stret whores.  We have the numbers, and we have the power.  But we have to stand up and fight.  Unless you are marching against them, you are fighting for the enemy.  You can whine all you want about the banksters, but until you are pro active, and maybe you are, you are fighting for the enemy.  If all we do is whine, we will not take our freedom back.  We must march.

Thu, 07/21/2011 - 11:16 | 1477191 IQ 145
IQ 145's picture

 Whoops.

Thu, 07/21/2011 - 11:09 | 1477167 Ahmeexnal
Ahmeexnal's picture

worthless hyperinflated euro fiat freegold?

Thu, 07/21/2011 - 11:09 | 1477168 HelluvaEngineer
HelluvaEngineer's picture

Time for brain dead flouridated Americans to get what they deserve.  Break out your credit card, bitchez!

Thu, 07/21/2011 - 11:19 | 1477206 Rainman
Rainman's picture

Consumers are already deep into their credit cards to pay the gas and food bills.

http://www.bloomberg.com/news/2011-07-21/consumers-in-u-s-relying-on-credit-as-inflation-erodes-incomes.html

Thu, 07/21/2011 - 11:26 | 1477240 HelluvaEngineer
HelluvaEngineer's picture

Lucky for them the 0% prequal letters are pouring out again.  I received one the other day - 0% for 15 mos on new purchases with no transaction cost.  Might be time to buy some pretty silver coins.

Thu, 07/21/2011 - 11:32 | 1477266 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Chumbawumba?  Is that you?

Thu, 07/21/2011 - 11:36 | 1477282 HelluvaEngineer
HelluvaEngineer's picture

I never said anything about not paying it back.

Thu, 07/21/2011 - 12:00 | 1477357 francis_sawyer
francis_sawyer's picture

I'd love to see the default rate on those Kardashian cards...

Thu, 07/21/2011 - 12:22 | 1477436 Vic Vinegar
Vic Vinegar's picture

It is a pretty hilarious concept but I don't think you could default on one of those puppies:

For example, a prepaid card endorsed by the Kardashian sisters last year disappeared faster than some of the reality stars' boyfriends after consumer advocates and then-Connecticut attorney general Richard Blumenthal blasted the card's fees. The Kardashian card cost $99.95 for a 12-month plan, plus additional fees for ATM withdrawals, balance inquiries and calls to a customerservice representative. (The card's creator, Revenue Resource Group, recently filed a $75 million lawsuit against the Kardashians for withdrawing their endorsement.) Sen. Menendez adds, “although it’s argued that giving your teen a prepaid card helps them understand the value of money and money management, if at the end of the day all they are doing is running to you to fill it back up every time the card runs out of money, what lesson are they really learning?”

http://www.blackvoicenews.com/news/46416-fed-prepaid-cards-target-low-income-with-excessive-fees.html

Don't click on the link trav! 

Thu, 07/21/2011 - 11:10 | 1477169 mayhem_korner
mayhem_korner's picture

SPR restocking fee just went up.

Thu, 07/21/2011 - 11:40 | 1477294 SheepDog-One
SheepDog-One's picture

Thats our geniuses! 'Sell low, buy high' technique proves it!

Thu, 07/21/2011 - 11:12 | 1477177 Rockfish
Thu, 07/21/2011 - 11:12 | 1477178 the not so migh...
the not so mighty maximiza's picture

This is what recoveries are made of

 

Thu, 07/21/2011 - 11:12 | 1477179 SheepDog-One
SheepDog-One's picture

The collapsing of world economies into default seems to be highly bullish for ridiculous 100 P/E stocks. Looks like a good day to go wander around on the beach.

Thu, 07/21/2011 - 11:14 | 1477185 papaswamp
papaswamp's picture

Greeks are...packed up the ouzo and headed for the beach...the rest of europe just restocked the party bar.

Thu, 07/21/2011 - 11:12 | 1477180 Archimedes
Archimedes's picture

Seems we are in a vicious circle...(good news) causes oil to spike which is damaging to the recovery...when will it break?

Personally I can't wait to see oil at $120. This slow motion train wreck is taking too long. Let's get to the end game already!

 

Thu, 07/21/2011 - 11:14 | 1477183 EscapeKey
EscapeKey's picture

Oh, don't worry, peasant. It'll last just long enough to strip you of all your assets.

Thu, 07/21/2011 - 11:33 | 1477274 SheepDog-One
SheepDog-One's picture

Thats right, soon as the 401K's are seized and the value of your home is nothing, then theyll announce we're under a new world govt with a new currency anyway, and complacent americans wont do a thing about it then either except die off as theyre told.

Thu, 07/21/2011 - 12:01 | 1477360 Archimedes
Archimedes's picture

Well then it is a god thing I am self employed (incorporated myself) S corp, I don't have a 401K (Just an Ameritrade account I play with) rest of life's savings is in cash and I no longer pay into Social Security. (I just turned 40 last month) and I know it won't exist when I am 65-70.

Oh and Sheep Dog. Form my Post on the Philly Fed article..I actually did by some silver a few months back. I will be honest and say I bought in around $30-32. So I am still up. I am not buying now but I do expect it to go much higher. I am just waiting for that last pull back!

 

And what is up with the quick to "Junk" someone whenever they made a snarky comment or speak a little truth! Geez...  Save the junking for Robo Methman and...hey, where has Wanger been?

Thu, 07/21/2011 - 12:55 | 1477597 magis00
magis00's picture

Expliquez s'il vous plaît -- ¿cómo escapar a los impuestos?

Thu, 07/21/2011 - 11:18 | 1477199 ZeroPower
ZeroPower's picture

Brent.

Thu, 07/21/2011 - 11:18 | 1477201 DaveyJones
DaveyJones's picture

Yes hard to predict with diminishing supplies of the most vital substance in the history of mankind

Thu, 07/21/2011 - 12:03 | 1477367 francis_sawyer
francis_sawyer's picture

A coal fired Chevy volt in every garage & a rubber chicken in every pot!

Thu, 07/21/2011 - 11:30 | 1477258 White.Star.Line
White.Star.Line's picture

When the Titanic hit the berg, there were those who knew the inevitable result, and watching it slowly list was almost unbearable.

Of course, once they were struggling in the forty degree water, they were no better off than the clueless passengers drowning alongside them.

Thu, 07/21/2011 - 12:20 | 1477435 HungrySeagull
HungrySeagull's picture

The cold will take the struggle out of them soon enough.

Thu, 07/21/2011 - 11:28 | 1477248 DOT
DOT's picture

Nice. reminds me of "Hamurabi".

Ran on GW Basic.

My six year old could front run that game, before he could do more than simple addition and subtraction.

The ability is in us to understand our own models, and those of other humans.

Game on.

Thu, 07/21/2011 - 11:15 | 1477190 Version 7
Version 7's picture

Short term maybe, long term will be courtesy of the rocks.

Thu, 07/21/2011 - 11:18 | 1477197 espirit
espirit's picture

All proportional to the value of the dollah.

Thu, 07/21/2011 - 11:18 | 1477200 jkruffin
jkruffin's picture

Gold will be $1650 within a week, and Silver closing in on $50 again.....oil the trigger..

Thu, 07/21/2011 - 11:27 | 1477244 Bay of Pigs
Bay of Pigs's picture

Silver up $10 in a week?

From one raging bull to another, be careful on making predictions in these markets. They are treacherous and can make you look really bad.

 

Thu, 07/21/2011 - 11:45 | 1477291 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

JK can't look bad, but I don't think that will happen.  Let me ask this, if QE 3 happens, will Bernanke not use his fiat to sell calls and buy puts on PMs and oil to slam the prices down through their support?  At this point, the President's Working Group on Financial Markets is the most liquid (however solvent) Hedge Fund in the world.  He will want prices down while he monetizes the debt to prove his plan will work, and the price suppression of real assets won't last long, but he will try. 

It shouldn't last long, but I don't think the end of the summer is going to be as great as the bugs think.  I think Fall will be the time to shine, and $100 silver, $300 crude, and $3000 gold will be seen by December 21st.

Thu, 07/21/2011 - 11:52 | 1477328 Bay of Pigs
Bay of Pigs's picture

Wow. Those are some big round numbers there Mr Hendrix.

Look at that PM Bull step up to the plate. That brings Mickey Mantle to mind.

http://www.themick.com/10homers.html#Home Run #1

Thu, 07/21/2011 - 12:06 | 1477380 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

There is no sweeter sound than the crack of a wood bat.

And I bet the first thing President Palin does is issue $1k bills.  No more metal money.  No more change.  Just cash and credit and round numbers.

Thu, 07/21/2011 - 21:23 | 1479403 StychoKiller
StychoKiller's picture

Mmmm, round numbers:  36D-25-38!

Thu, 07/21/2011 - 11:19 | 1477204 CrashisOptimistic
CrashisOptimistic's picture

In the end, only oil can not be printed.

Every day that passes obfuscating stories emerge.  Iran can't pump at previous rates becuase they have been doing so for 60 yrs.  Story: They will not send to India anymore because of unpaid bills.  Russia's fields are going empty and they have to drill 6000 wells per year to hold production up.  Story: Without investment, production can't be maintained.  ("Investment" is the euphemism for funding to drill those 6000 wells, each one of which produces too little to repay the "investment", which Russia wants Total or RDS to ante up).

It won't be much longer.

Thu, 07/21/2011 - 11:21 | 1477213 EscapeKey
EscapeKey's picture

How do you print any delivered commodity?

Thu, 07/21/2011 - 11:31 | 1477264 CrashisOptimistic
CrashisOptimistic's picture

Civilization does not depend on just any delivered commodity.

It depends on oil, and pretty much only on oil.  Wheat can substitute for corn.  Hogs can substitute for beef.  The 18 wheel trucks that bring food from Iowa to NYC on just one or two tanks of fuel run on oil, and only on oil.

Thu, 07/21/2011 - 11:50 | 1477321 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Oil is the lifeblood of the economy, but metal is the body.  That truck is made of steel.  It has computerized componants of precious metal.  Also, PMs are the only way to store wealth.  But oil is at the crux of the problem.

Thu, 07/21/2011 - 12:22 | 1477441 HungrySeagull
HungrySeagull's picture

Steel frame, axles and 5th wheel plus engine block and wheels etc. The rest is just crap fiberglass and fancy nanny-do/don't electronics with satellite micromanage availible to the home office.

I pine for the days of the old Diamond Reos with the 13 speed double under. Same fuel mileage but much less worry if the engine gets a little warm in the heat now and then.

Thu, 07/21/2011 - 12:05 | 1477374 HungrySeagull
HungrySeagull's picture

That fucking fuel is about 300 gallons a tank. 6 miles to the gallon, 2000 miles... and around 500 dollars out of a 1200 dollar haul just to get it there.

Best just to stick it on a train a wait a few days longer. Cheaper too.

Thu, 07/21/2011 - 12:38 | 1477495 CrashisOptimistic
CrashisOptimistic's picture

Trains use diesel.

 

Thu, 07/21/2011 - 12:49 | 1477558 LFMayor
LFMayor's picture

you going to walk down to the central marshalling yards and ruck that off the boxcar yourself?  We're boned, the distribution system is configured for point to point via the roads. 

On top of that most of the tracks in these parts started being ripped up in the mid to late '80's and now only a few major spines still exist.

Thu, 07/21/2011 - 13:01 | 1477628 magis00
magis00's picture

Word

Fri, 07/22/2011 - 01:12 | 1479686 DaveyJones
DaveyJones's picture

Yup. Stupidity and corruption neck and neck

Thu, 07/21/2011 - 11:22 | 1477217 Edward Fiatski
Edward Fiatski's picture

Sky-rocketing food prices - third world is going to love it. Viva la revolution. LOL

Thu, 07/21/2011 - 12:54 | 1477588 LFMayor
LFMayor's picture

They can eat flies and crusty eyed, potbellied kids.  They have lots of those from what I've seen on the begathon commercials.

Thu, 07/21/2011 - 11:26 | 1477233 r101958
r101958's picture

+1000 crash. Also, a it is a good answer to another statement above. Energy determines the direction of the economy...not the other way around ....as many still believe.

Thu, 07/21/2011 - 11:19 | 1477205 qussl3
qussl3's picture

This on a day when both Chinese and Eur PMIs are showing signs of slowdown.

Idiots buying stawks here will have hell.

Thu, 07/21/2011 - 11:20 | 1477209 Edward Fiatski
Edward Fiatski's picture

This is what could trigger a hot war in the MENA region, our petrol per litre is too high, you see - Iran to be bombed in a few months, there won't be major dissent, hell, the peasants have sucked it up on Libya; they will demand to be shipped in C-130s over there for whatever cause that is going to be presented to them. :-)

Thu, 07/21/2011 - 11:20 | 1477210 Peak Everything
Peak Everything's picture

worth reading: The Energy Limit Model by Gregor Macdonald.

http://gregor.us/theory/the-energy-limit-model/

tick, tick, tick....

Thu, 07/21/2011 - 11:23 | 1477226 BaBaBouy
BaBaBouy's picture

Greece... It will work, just like Whipping a dead horse.

 

Commods all going to new highs, protect your Ass-Sets from the MBA/CFA Money changers...

Thu, 07/21/2011 - 11:26 | 1477243 Edward Fiatski
Edward Fiatski's picture

Now, now, that's how the game has been played since time immemorial. Perhaps, the money changers are right? They have conquered the world many times over (World Wars being a reset of the 'game'), maybe they do have an answer to Mankind's troubles... a single Global currency, perhaps? Perhaps not. LOL

Thu, 07/21/2011 - 11:24 | 1477234 MassDecep
MassDecep's picture

View this for an Excellent description of Silver manipulation!!!

http://youtu.be/Y--jCrDOSjk

Thu, 07/21/2011 - 11:33 | 1477272 Dr. Engali
Dr. Engali's picture

What ever happened to the talking bears?

Thu, 07/21/2011 - 11:41 | 1477296 False Capital
False Capital's picture

SGS said on his blog that they'd be back in a few weeks.

Thu, 07/21/2011 - 11:35 | 1477280 YesWeKahn
YesWeKahn's picture

I would like reiterate our strong dolar policy.

Thu, 07/21/2011 - 11:42 | 1477299 Bay of Pigs
Bay of Pigs's picture

I believe it's spelled "doelarr" Mr Rubin.

Yeah I'm freeeeeeeeee, freeeeeeeeeeeeeeeeefallin.....

Thu, 07/21/2011 - 13:23 | 1477751 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Bay of Pigs:  Wearin' the throwback!

+1!

Thu, 07/21/2011 - 11:36 | 1477283 John Law Lives
John Law Lives's picture

It is amazing how much the act of increasing the fiat currency supply hurts Mr. and Mrs. Joe Sixpack.  The money printers are the very definition of sociopaths.

Thu, 07/21/2011 - 11:43 | 1477306 SheepDog-One
SheepDog-One's picture

Their intent is to crush us, started long ago, but ramped up 20 years ago with NAFTA and GATT and all that ensuring our production and manufacturing base is gone, now last stages of printing the money to worthless. 

Thu, 07/21/2011 - 11:48 | 1477318 John Law Lives
John Law Lives's picture

It sounds like a global race to push the great R-E-S-E-T button.  I'm sure the elitists who have RUINED our economy will know what is best for us once the R-E-S-E-T button is pressed (sarcasm on)...  

Thu, 07/21/2011 - 11:41 | 1477295 BillyTheBlade
BillyTheBlade's picture

Im glad I got in to USO and DIG the day of the SPR release.  I had a feeling that any dip would be very shortlived.

Thu, 07/21/2011 - 11:43 | 1477305 r101958
r101958's picture

Looking at patterns lately, it seems that TPTB are attempting to control the price of three commodities now. Trying to keep oil below $100; Gold below $1600 and Silver below $40. These may also be natural points of resistance but there looks to be much manipulation going on in the background.

Thu, 07/21/2011 - 12:06 | 1477382 HungrySeagull
HungrySeagull's picture

There is a one hell of a force resisting those three. They MUST rise...

And when they do, they are gonna EXPLODE.

Thu, 07/21/2011 - 11:52 | 1477326 NotApplicable
NotApplicable's picture

Meanwhile Krugman is blaming high gold prices on Glen Beck.

http://krugman-in-wonderland.blogspot.com/2011/07/gold-at-1600-paul-krug...

Thu, 07/21/2011 - 12:07 | 1477388 francis_sawyer
francis_sawyer's picture

Shit just gets wackier by the day yo...

Thu, 07/21/2011 - 12:02 | 1477365 Franken_Stein
Franken_Stein's picture

 

Tomorrow, July 22,  HKMEX is going to launch its silver future.

Wish us all luck that this will curb silver price manipulation.

 

Thu, 07/21/2011 - 12:08 | 1477390 HungrySeagull
HungrySeagull's picture

Yea, that damn City is so filthy rich they can take a bath in the stuff. Streets of gold and all that crap. Never mind backing trucks, they dock ships to load up.

And when that happens, the prices MUST go up and not a damn thing Crimex can do about it.

 

Be like the old Boom town Comstock Lode all over again.

Thu, 07/21/2011 - 18:02 | 1478856 burncycl
burncycl's picture

I hear Canada has weapons of mass destruction and is host to terriorists plotting to do harm to the United States.

 

Wood and oil, here we come!

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