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ECRI Declines To -10.0 From Unrevised -9.8% (Yet Prior Is Conveniently Revised To -10.2%)
The ECRI's micro dead cat bounce is over... or is it? The ECRI Leading Indicator came in at 120.8 W/W, lower from a previous number of 122.4, revised from 122.0. In practical terms, this means that the annualized change is now back to a double dip predictive -10. Which is a deterioration from last week's actual -9.8. Well, not really - the prior number was just revised to -10.2, meaning all those early chants of ECRI improvement were premature (just as we had expected, as this is merely becoming one more in the endless series of downwardly revised series to mitigate the negative data impact). Either way, the weekly chart speaks volumes. And with all input signals into the ECRI once again deteriorating, we expect the second leg down in the ECRI to continue, revised or not.
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Yeah, but the second derivative blah blah blah . . .
the change of the change...how about a change of music :)
one good turn (a playlist): http://www.youtube.com/view_play_list?p=DBB6891B8CA31A85
What about the double integral ;)
Must we wait until "everyone on vacation" returns to work to get the equity move "much" lower. I mean,,, WTF?
No, the crash is in full swing but it's controlled imo.
Some stupid bulls might still think to buy the dips but they're far and few in between. Pretty much the majority has now resigned to the double dip effect.
The mergers this week catapulted the market higher. It was the anomaly.
Market moves like this:
1 step forward, 2 steps back.
Down she goes.
Ugh. I expected a technical bounce yesterday and now I'm getting clobbered.
Huh, I am confused. I thought everyone on the web was making millions off trading. Surely they can't all lie?
Not the goldbugs! They're buying at 1300, when shipping and the "you're a retard" fee is added to the spot price.
They're still down very much.
Had to wait until gold was down $5 to come out, eh?
I suppose that when you buy bread you only pay for the price of the grain that it contains, and not the "minting", nor do you pay any premium for not buying it by the cargo container.
I mean, God, you are just so god damn stupid, I don't have words for you.
I don't pay 2.00 for a loaf of bread that is only going for 1.75, like goldbugs do.
Right, because there is no such thing as a premium brand. If you want to pay less for an oz of gold, then buy gold shot. You'll get that for around spot.
Does it matter if you have a gold coin, or a paper contract that says "gold" on it if you get the same price?
Actually, you pay more to get the same for the gold coin. That's what doesn't make sense to me.
I'd rather buy at 1220 when the price is at 1220. Buying at 1300 when the price is 1220 doesn't make sense to me.
It does, when you get rid of the counterparty risk. A real trader knows the difference.
I mean, Christ, Johnny, you seem to think that having a check is the same as having cash. What happens when you go to cash your check, and there is no money in the account, or the counterparty on the check has stopped payment? You never heard of default? Does that not happen in your world?
And how many times have they defaulted on a gold delivery?
"Ummm... errr... yeah, but it MIGHT happen, because I said it might!"
I guess I just live in reality, while gold bugs live on coulda woulda shouldas that they speculate on.
"Oh, well, if we divided all the gold into America into the currency, it'd be 54000 an ounce!"
Yeah, and if all people bought with the currency was gold, you might have a legitimate argument.
The difference between me and a gold bug is I see the world the way it is now, and the way it is going to be soon.
They take wild assed guesses at the future, and think that they know something that nobody else knows.
If they were right, they would. Yet, NOBODY knows the future, not even (especially not) Glenn Beck.
There is a difference between taking on default risk for delivery (will they go out of business in the next two weeks?), and taking on default risk for as long as you hold the product. If you can't see that, then you really are a moron.
I noticed you failed to answer the question:
And how many times have they defaulted on a gold delivery?
Because the answer is ZERO.
There's no point in paying an 8% premium for insurance for something that ISN'T GOING TO HAPPEN.
I don't know why anyone even bothers responding to JB. Just a troll.
Sorry, I thought you were talking about physical suppliers defaulting.
If you are referring to the default of paper products, yes, it has happened (you ignorant fuck). The most well known default occurred in 1971 when Nixon closed the Gold window (ie defaulted on silver deliveries). The US also had a limited default in 1933 when dollars were no longer allowed to be exchanged for gold. The same thing has occurred in every other country that left the gold standard.
In any event, to say that something can never happen just because it hasn't happened yet is the height of stupidity, again exposing you for a shitty trader, a liar, or both.
And once again, insurance against default is only one of the qualities that goes into that 8%. You can get insurance against default for spot+$9 by buying gold shot. Of course, it's not pretty, and you are going to have to have it assayed every time you trade it, whereas coins have already been assayed, and their shape is proof of that. The AGE is backed by the mint, while other products are backed by the reputations of their various mints. In addition, the AGE is also more expensive because it is produced with 100% American sourced gold. As a Keynes-tard, you should appreciate that.
Has everybody (Johnny Bravo) forgotten/ignored the recent deliveries of tungsten bars? Intentional fraud as a result of inability or unwillingness to deliver is an instance of default.
Dear John (johnny Bravo}
Until you actually have a gold or silver coin in your hand, please shut up.
As long as real gold can be bought with bits of green paper i am buying.
Evidently you still dont see the true value of paper is zero
Why don't you give me your paper then?
I happen to use it for a multitude of things, aside from investing 8% more than what an asset is worth.
Dude seriously? ok, you are heard that you are not a beleiver of gold. Let it go already. You don't even own gold. If you have this issue with it, then short it and go away(it's real simple just short the futures). And who buys at 1300? I wanted some security so I bought 200 silver coins 2 years ago for about $12.60. No big deal, I am not out to make a couple of bucks. I am holding onto them. You know, there is this great service, it's perfect for you, it's called "Yahoo finance". They have this great board, that you can scream all you want how you hate gold. Good Luck!!
yes, you do, you stupid fuck. Unless you get your bread wholesale
You're right. I go into the grocery store and say... "Well, I know that this bread is 2.00 a loaf, but here's 2.16, out of the kindness of my heart!"
If you were getting gold wholesale, you'd be paying a lot less than 1220.
I think we should limmit comments from those still in the educational system... hows that ES to GC ratio doing for ya?
+++
Oh, I see your yacht and Russian whores haven't arrived either, that surprises me considering you're the one with all the answers.
You're right here, aren't you?
Where's my yacht?
I don't go around telling everyone Gold will definitely go down!!!11eleventyone
I personally reckon it will increase, but I can't be certain. But you're certain it will go down.
Anyway, if I had your yacht and whores, I wouldn't be posting on this board.
Nope, I get clobbered on pretty much everything. Only bets that have worked are bonds. My larger positions are short S&P and long PM, which has worked pretty well so far.
"You take the good, take the bad, then you the facts of life...."
OTM Oct/Nov/Jan puts have been doing me quite well now. The were getting clobbered and now have finally reveresed to reality. Not going gangbusters yet, but defo heading in the proper direction.
The Put I bought on these bastids (http://www.google.com/finance?q=NYSE:BKS) is still working against me, but I have faith in reailty to settle in.
Has anyone noticed since the DRV consolidated 5x that the moves % wise are much more muted. I remember 100+ down days in the dow w/ $1 moves in drv = $5 today. just not happening. maybe speaks to the .01 frontrunning done by the algos. .01 only worth .002 today. kinda sucks if you hold on for the drop in the mkt.
+1, All true. Although, I'm looking for more vol. VIX is too low relative to what's happening. Sure, a "Chinese Water Torture" method to crashing this thing is fine but we've been waiting quite a while for the truth to be told in the form of stock price's and much much higher yellow coins.
I think that the fact that everybody is bearish will prove to be a contrarian indicator.
If everybody thinks the market will go one way, it will certainly go the other.
Remember the H&S top earlier this year? I knew it wouldn't hit its target because even Krudblow was talking about it.
When everybody thinks one thing, be prepared for the other.
So now you're well seasoned trader? lol go back to class Jr.
I actually MAKE money trading, unlike some of the others here...
No you don't, you spend money on worthless classes that don't teach you anything useful, and in the case of history and economics, throw out the actual lessons that have been learned and continue teaching outdated theories.
Enjoy your Keynesian apocalypse and your FAZ toilet paper.
Is that from your salaried job in JPM's precious metals group?
Rosie will be on Bloomberg radio sometime between noon and 3 ET today - (if you can stomach listening to Kathleen Hayes) acutally it will be good to see Rosie the Bear maul Kathleen the PermaBull
http://noir.bloomberg.com/audioplayers/playr_owm.html?clipName=Bloomberg...
thanx for the heads up!
-10.0 bitchez
YES! That has to be it....when the hordes of vacationers return from Wally World and discover they have no house, no money, and no job, THEN this bankrupt nation will be smacked upside the head by reality! Come on back home, ye perpetual vacationers!
Insert >deer caught in headlights< here
As usual, whenever there is the slightest whiff of deflation, financial convulsions, etc.
PM's are the first items tossed overboard.
"This is it!"
"Silver to 'da moon!"
B...b..b.but... the gold/silver ratio is at record highs! It doesn't mean that gold is overvalued or anything. It means that silver should be 90 dollars an ounce!
It's realistic... isn't it? Like gold going to 54000. That's way realistic too.
I'm going to have a zero hedge picnic when it hits 54000 and serve canned hamz to all my zerohedge bitchez.
Just curious Johnny Bravo, did you read the Adrian Douglas piece yesterday about Gold price manipulation? If so do you think the price of Gold is manipulated?
BTW, I don't think Gold is going to $54000.
No, I didn't read the piece, but I've read similar pieces.
No, I don't believe it is manipulated. If it was, it wouldn't go up like it does.
I think that the action is normal market action. Goldbugs seem to think that the action is only manipulated when the price goes down. When the price goes up, I guess that it's just "fundamentals".
It's just such a hypocritical stance to take.
Johnny Bravo,
You are what I like to refer to as a "Useful Idiot". One of the many sheeple who being too lazy to read live in a delusionary world where The Federal Reserve bank actually knows what the hell they're doing.
Here's the article again if you can find the mental acuity to move your eyes left and right for more than 5 minutes.
https://marketforceanalysis.com/articles/latest_article_081810.html
In the article you will find amazing cooincidences like the price on average of Gold only moves up outside of the Comex. While the price only moves down on average on the Comex. In fact the price moves have an almost 1 to 1 correlation. I know you've probably never completed college let alone high school but correlation is a term used in statistics. It is used to find cause and effect relationships. For example:
Daylight has a 1 to 1 Correlation with the Sun being visible.
Fresh Water Ice formation has a 1 to 1 Correlation with 32 F or 0 C.
Now Johnny, don't hurt yourself thinking too hard about these things. Just rest assured that when there is a 1 to 1 correlation you can ascribe a statistical certainty to one event causing another event.
So in our case given 10 years of price data if there is almost a 1 to 1 correlation with price moves down on the Comex then there must be something about the Comex that is driving prices down. Just like when your knuckles drag on the ground while you walk is caused by Gravity(a force pulling all things toward the center of the Earth), when prices fall on the Comex it must be caused by something. If the correlation wasn't 1 to 1 but was random them we couldn't come to the conclusion that something was acting upon the price on the Comex. Simple Random distrubution would mean you would see as many up days as down days. In fact you would actually see more up days statistically as the price as risen for the past 10 years.
If you're still with me Johnny, and I know this has been a lot of reading, I just want to say I'll be available for tutoring this fall if you need me. Just tell your mother my fee is $900/hour. She can reach me through ZeroHedge.
"like the price on average of Gold only moves up outside of the Comex"
Is that so? Then why did the price move up on the Comex for the last week or so? I guess that that doesn't count though, since it only goes down on the Comex, right?
Where did the gains come from in the price? Elves?
Now you want to sit here and talk about water and sunlight and all this other bullshit.
I don't need you as a tutor. First, you don't know what you're talking about. Second, I AM the tutor.
Why would the person that is number one in his class ask for somebody that is not number one to tutor him?
To get WORSE grades?
I love how you claim to be a trader, but you constantly ignore trends, even when your face is rubbed in them.
What are you talking about?
I said gold was going to 1220. It went to 1230. Big fucking whoop. What trend did I ignore?
I was right on the trend. It just didn't stop where I said it would.
Meanwhile, even if I went short at 1220, I'd be down like 1/2 of a percent?
You're down 8 percent the day you buy gold.
I'd rather be down 1/2 percent than 8 percent.
But yeah, missing the exact target of a trend is not the same as missing the trend.
When I bought F at 1.50 and sold it for 11, did I miss the trend because I didn't hold out for 12?
Or did I still make like 700%?
Hey retard, the trend in the comment that you replied to, ie that averaged over the course of the last ten years, if you bought every day at the AM Fix, and sold every day at the AM fix, you lost $500, but if you bought every day at the PM fix, and sold every day at the AM fix, you made $1500+.
AND YOU GET THE PREMIUM BACK WHEN YOU SELL YOUR GOLD. I don't know how many fucking times I have to say it.
Pay attention, you insufferable windbag.
"Then why did the price move up on the Comex for the last week or so?"
Now Johnny I was affraid this would happen when I used the term "on average". You got a little overwhelmed and that's OK Johnny.
Average is another word in statistics that means to sum a bunch of numbers up and then divide by the number of numbers. Does that sound like a fun thing you can do. If I give you this crayon and paper could you add up 1,5,10 and then divide that number by 3. How about this, use purple for the 1,5 and 10 and green for the sum. Once you do that send me another post and I'll give you some more color crayons to use for the final average.
How does that sound Johnny? When we're done I can get you a nice cold popsicle, does that sound good. Yummy, yummy in your tum tum! By for now Johnny.
LOL
A wonderful example of mixing satire and sarcasm with logic and critical thinking to skewer JB like a plump chicken on the back yard barbie. Where do I sign up for writing lessons from you, oh linguistic Master? :>)
I think if you guys sit in a circle and jerk each other off about the price of gold, the inane rambling lessons are free.
Hey JB, I left you a message on the other thread about that thumb up your ass. Surprise, it's you own so pull it out and place it back in your mouth.
Over and out.
P.S. Find 2 posts of mine over the past 5 days where I talk about owning Gold and I'll let you suck my thumb as well.
not even with yours-Ned
Dude where the fuck have you been. These Gold bitchez have been outta control lately. Welcome back, now if I can find Mako the deflationary collapse can continue.
They have to be out there. Gold sells for far above industrial use - that premium is based purely on desire/belief and shared demand. You can coin this as marketing. For them to profit and get their price, they need others to believe. This is why people push so hard with gold and any honest person even if they are a gold bull will agree.
BTW - I'm hardly a gold bug and I have and currently do see deflation as the major risk - in the medium to long-term I'm relatively bullish on gold, precious metals, and hard assets. I'm also a realist though when it comes to each of these and I am willing to acknowledge the other side.
Bingo Slim. As much as I love this site for the content the undeniable fact is that it to has an agenda biased in favor of Gold. If commentary is down prompt response by applying the tried and true mechanism of Gold is Blah Blah Blah and every Gold bug from here to Tapica comes out of the wood work.
Your tank just ran dry.
No doubt, of course my comments on the silver article yesterday got flagged as junk for trying to warn that being long silver prior to a market crash is a bad idea.
Nearly every indicator is pointing toward a deflationary depression, but people refuse to believe the USD can go up and PM's can go down in a fiat money system.
Being right = flagged as junk.
Goled to 54000 bitchez = you're the man.
This happens EVERY SINGLE MONTH at this time. Nothing new, and nothing to do with deflation or a market crash, save for the fact that people are trying to move the markets, and are using printed money to do it.
Price goes down = manipulation
Price goes up = it's the best asset in the world, pay 8% over the price right now!
What a load of crap.
You don't have to buy the ultra-premium gold product, the American Gold Eagle. You can buy gold shot, or buy a huge gold bar for spot price. Those of us who don't buy gold seven figures at a time have to pay a bit of a premium. But so what? You get the premium back when you sell it.
Are you really so ignorant as to think that different forms of gold sell for different prices, but that it is only bought back at one price? Stop being such a moron.
Do you walk into a car dealership and pay 24000 for the 22000 dollar car too by choice?
"Umm yeah, I know the blue book is 22000, but here's 24000 anyway! Goled bitchez!"
If it has extras, like a moonroof and leather seats, yes I do. You also get your money back when you sell it, which you obstinately refuse to acknowledge, because you know you are wrong, but you just can't admit it, so you bray like a jackass.
So what is the extra feature in a gold coin versus anything else?
It's all an asset to sell right? Wouldn't you buy for the lowest price possible?
If a car had all those extras, the VALUE would include those extras. You still wouldn't pay 8% more for the car than it was worth.
Yet, you do that for gold.
You should just give me 8% of your money, since you trade like you don't need it.
It is set into a form with standardized weight and composition, and in a shape that is widely recognized. In the case of AGEs and some other gold products, they are also legal tender with low face values, meaning one can carry much larger amounts of cash without filing declarations.
Come one, what other bullshit do you have for me to refute? Your weak assed arguments are going to end here, shit-for-brains.
So you paid more than it is worth to be able to sell it for what it is worth?
That sounds pretty sound to me.
Like I said, you should just give me 8% of your money, since you're willing to throw it away on speculation and hope.
Your reading comprehension is that of a third grader.
I don't pay 108 dollars for a quarter of marijuana because it is in a standard unit of measure. I still pay 100.
The standard unit of measure is part of the price, not the premium.
No, it isn't, you moron. When you buy a good delivery bar, they are APPROXIMATELY 400 ounces. Not exactly. And they certainly aren't one ounce. Add that to the other qualities i noted, which you ignored, since you are in the third grade (I guess reading must be hard for you, and you get tired after the first line or two), and you get the reason for the premium. If you want gold near spot, buy gold shot. Good luck selling it, though.
First you need to stop comparing physical gold to paper, as the paper gold house of cards will not last.
Second, if a particular coins holds a premium over the spot price the entire point is that you can re-sell it for a similar premium, if you needed to. I'm not talking about numismatics here. You pay extra for reduced risk. Coins provide extra security and potential liquidity. There are many many investment classes in which a lower yield or higher cost is associated with less risk. This is no different than buying Gold American Eagles instead of an unmarked bar.
Prove that the "paper gold house of cards will not last."
You can't. You heard some conspiracy theories from gold salesmen that there isn't enough gold, but does that mean it won't last? I doubt it.
When, EVER, has somebody failed to make their gold delivery?
*crickets chirp*
Oh, but goldline.com says it's GOING to happen... I guess that they don't have an interest in perpetuating that myth.
As far as gold versus paper, if you have a physical coin that you bought for 1300 that is worth 1220 and I have a piece of paper that I bought for 1220 that is worth 1220, who is taking the bigger risk?
You need an 8% gain just to break even. I can sell my paper all day with a couple of mouse clicks for around the same price I paid earlier in the day.
I don't need to wait for an 8% gain to break even.
I don't need an 8% gain to break even if I can turn around and resell the same coin for the same 8% premium. Idiot.
Keep your faith in GLD if you want, once again it's a matter of risk.
And who is going to pay a premium for it when the price goes down? Idiot.
It's not like you're going to sell when the price keeps rising. You won't sell until it drops. Then who will pay a premium?
Why would anybody pay 8% over the price for an asset in a downtrend?
To lose 15%? I guess that works for gold bugs.
The premium has always been the same, idiot.
And who the fuck will pay the premium when the bottom falls out?
Idiot.
It's like how people paid 200000 for a 100000 dollar condo during the housing boom. They paid a 100000 dollar premium on the price.
Now that the condo is selling for what it is worth, who else is paying the premium? Nobody. Nobody is shelling out the extra money, because condos are in a downtrend.
The same thing will happen to gold when the downtrend starts.
People don't pay premiums for declining assets. Gold will not appreciate forever.
The same people who paid the same premium every other time the bottom has fallen out (1980, 2008).
I can't believe how stupid you are. Sub human, yet able to input a response into a computer. It boggles the mind.
And your metaphor is stupid too. The premium would be more in line with a realtor's fee. Even if the bottom completely fell out of the real estate market, you will still pay a realtor a transaction fee, and it is a set percent of the price.
People were paying the same premium when the spot price was $200, idiot.
You asked for proof that the paper gold markets are going to eventually fail (haven't been reading ZH very closely apparently), yet then you turn around and make a completely unsubstantiated claim that the bottom will fall out of the gold market. Based on what? Asian central banks are increasing their hoards of it, consumers across the globe are purchasing physical gold.
And why? It is not that gold is "appreciating," it is that people are losing confidence in fiat currency. The only way for the "bottom to fall out" of the gold price is for the people of the planet earth to suddenly believe sovereign debt is no longer a problem and their paper money won't lose any value. Good luck with that.
do you even vaguely understand what will happen to the dollar in a deflationary depression?
+++
All this means is that the CFTC does nothing as the bullion banks collusively pull their bids. Nobody is selling physical silver.
I'm sure there is nothing to do with options expiration next week. Certainly this exact same pattern hasn't occurred every single month for the last year. Certainly the markets aren't corrupt. None of them. I'm sure Bernie will be exonerated in the end.
Translation: "I buy into a market that I say is corrupt and manipulated. Then, when I think it's corrupt or manipulated, I cry about it, even though I already knew it was manipulated."
Only goldbugs would bet red on the roulette wheel when they know it's going to come up black and then cry about how it came up black.
If you knew it was going to be black, why bet on red? Principles? The desire to lose money?
I don't buy into the market, I take chips off the table, and cash them in before everyone finds out that the casino is circulating a hundred times more chips than it has money to back it up.
Buying physical gold and holding it it the opposite of gambling. What you pretend to do is gambling.
Buying an asset for 8% more than it's worth in speculation that it will increase to more than you paid for it is NOT gambling? How so?
You must be able to read the future then.
Maybe you should start buying higher beta assets, since you're so sure about the future that you're always right and all.
You could make 70%, instead of minus 8%.
I make like two or three swing trades a year. You constantly pay more for assets than they are worth in hopes that they'll go your way.
One of us is gambling, and it isn't me.
You keep saying the same stupid shit. I buy an AGE for spot+8%. I sell an AGE to the same dealer five seconds later for spot+7%. This is their spread. It only has to appreciate a percent or so to make back the spread. Further, I could also take the same gold coin and sell it on Ebay for spot+8%, if I could be bothered to do that, and lose NOTHING in the transaction.
And by the way, gold is up 30% in the last 12 months alone. I've owned gold for the better part of a decade. Go back to your basket weaving class, JB.
What the hell are you talking about 30% in the last 12 months alone?
It was 1220 last year. It's what, 1225 today?
That isn't 30%. That's less than 1%.
http://www.kitco.com/
1 year change, on the left hand side.
You keep braying, and any credibility you might have had at some point just keeps getting whittled away. Sort of like how you keep saying that the dollar buys twice as much as it did in 1985, even though the dollar index is half of what it was then.
You are way off base there. Maybe you should look at the data before spouting out numbers.
As Steve Jobs said, if you don't want to buy gold, don't. Is it really that hard? Wow, you need a hobby. As for some of your other comments, well, the premium never goes away and is there if you sell it someone else, perhaps not back to the dealer, but to other collectors or whatever. Gold is and always has been the "I don't trust the government fiat currency" trade, well, you seem to think that printing, QE and whatever else is good for our money, that is your business, I don't. Gold has also not gone up, the value of the dollar has dropped, it is pretty straight forward, perhaps there is some premium built in now, but generally speaking that is how it works.
Don't like gold? I don't give a flying fuck. Buy silver, buy TIPS, trade you mythical Sharebuilder account or whatever. No one cares. Of, when you buy your loaf of bread for $2.00 you do pay $2.16 thanks to sales tax.
I hate people who type/shout in caps, but.....
THE PREMIUM IS TACKED TO BOTH SIDES OF THE FUCKING TRADE, YOU IDIOT! THE PREMIUM YOU PAY IS BASED ON THE TYPE OF GOLD YOU BUY. OTHER THAN THE FACT THAT IT OBLITERATES YOUR ENTIRE ARGUMENT, WHY WON'T YOU AT LEAST TRY TO DISPUTE THE POINT, INSTEAD OF REPEATING THE SAME TIRED ASS SHIT WITH DIFFERENT ITEMS?
Fucking bread and cars. At least try comparing apples and oranges to each other. They're always a fair comparison.
where the hell do you get this "8%" shit, except out of your ass?
He's talking about the premiums on certain gold coins, namely the AGE.
Johnny Bravo,
You are little more than the malignant pustuole on the cervix of a dead crack whore. You continue to put words in the mouth of the "Goldbugs", to back an argument that wouldn't exist if you didn't troll around starting them.
"Goldbugs" don't complain about premiums, you pop up and taunt them about it.
"Goldbugs" don't whine about losing money on gold when it drops eight dollars. Or eighty. You pop in and tell them how stupid they are for buying into a bubble.
"Goldbugs" understand that the market is manipulated. You call them stupid, and call CFTC testimony and released Federal Reserve meeting notes a conspiracy. "Goldbugs" don't complain about potential manipulations, they wait them out.
"Goldbugs" are not playing a sell the rallies game. Most don't plan to sell their gold, they plan to SPEND it.
Which leads to a very basic theory of owning PM's. Try to clear the syphilis from your addled brain and understand this:
I have one Gold Eagle. If I sell that Eagle today, I can go to town and buy a new lawn mower. If we shit out, the markets and economy slide off into the abyss, and gold goes to your projected $8-900/oz.? If anyone's still making mower's, they're going to sell it to me for an Eagle because nobodies got any damn money to spend. Will you have $900? If we inflate to "Gold Bitches 54,000,000,000,000", know what I can buy with my Eagle? The same fucking lawnmower. Problem with your paper is by the time you cashed your 54,000,000,000,000 paycheck and ran to the store, your mower cost 75,000,000,000,000,000. In virtually every scenario, I have a store of wealth equal to the cost of a mower. Do you? Who's really taking the riskk here?
If you could get the smug outta your eyes for two fucking seconds and read between the lines a little, you might see that most of the "Gold Bitchez" are a shot at the Ponzi more than I'm gonna buy Manhattan with one ounce of gold.
Grow up, Troll.
JB understands the reason for owning physical about as well as he understands women:
http://www.youtube.com/watch?v=xnGnl-UElVA
Funny. I'm betting when our Bravo gets out on the town it goes something like this:
http://www.youtube.com/watch?v=VLnWf1sQkjY
Not getting involved in the substantive argument (partly as I'm beginning to suspect there's more to JB than is traditionally given credit around here - yes, OK, junk away; and yes, OK, I'm hardly guiltless myself), but ColonelCooper: for the phrasing of that first sentence insult, I salute you. We should p'raps negotiate a royalty agreement, as I shall be using it as & when the need arises!
He could also be the malignant pustuole on the left nut in ZH's scrote sac. They're all yours.
This thread is a perfect example of why he a given no credit around here, despite the fact he's a bright kid.
Nobody mentioned gold. Not in the article, not in a post, not anywhere, until he drug his fat troll ass in here and started insulting people who buy PM's. If he wanted to spew his shit on GOLD THREADS, his would at least be a valid opinion, and even his tactics "somewhat" acceptable, as the whole gold subject tends to get overemotional. The shit that this douchenozzle pulls is trolling of the absolute worst kind.
I appreciate the fact that ZH is a place where NO thought is censored. It is incredibly unique. But Goddamn, if I could make one exception.... (I know, I know, not really)
uh, no...oil went overboard first.
And when the euro was crashing, the POG went up a ton.
Yes. There is definately a chill in the air. Brrr. The themometer is not the only thing heading lower!
Silver /Gold ratio blowing out - this is bad ju ju for economy
Who cares about ECRI ? That´s THE news today :
Aug. 20 (Bloomberg) -- Payrolls increased in 37 U.S. states in July, led by a jump in Michigan that may reflect a gain in auto making.
Employers in the Michigan added 27,800 jobs last month, the most since October, figures from the Labor Department showed today in Washington. Massachusetts, New York and Minnesota rounded out the four states with the biggest job gains. Employment in the District of Columbia climbed by 17,800, the most since records began in 1990 and second behind Michigan.
The U.S. lost 131,000 jobs last month as the government cut temporary workers conducting the 2010 census, and private payrolls rose a less-than-forecast 71,000, according to Labor Department figures released Aug. 6. Manufacturing employment increased by 36,000, a seventh consecutive gain.
;=)
HUH?
This should be good for a 1.5% move up in the S&P don't you think? I sure love the smell of hopium in the morning!
Isn't Michigan basically in a conservorship though...I hope those jobs are still around 2-3 years after the gov't money runs out.
If there is not one already, there should be a government position created entitled Czar of Propaganda.
Theyve got that covered to the nth degree in the form of the presidential press secratary, assisted by reuters, ap, and cnbc.
Together they make Baghdad Bobs legendary reporting seem credible by comparison.
I thought it was named BLS.
Lol, yeah, them too! Its a team effort.
Leo, it's dipping, buy, buy, buy!
Is the Greek solar magnate buying now?
But this is the Summer of Recovery!
which is why my short oil trade is doing so well...
Given the pattern of this data series, I'm thinking that the duration of the ECRI in negative territory is perhaps more important than whether the WLI is at -9.8, or -10.2, etc, or crosses some rubicon negative number.
So... every week it remains negative, the more solid the case for the double dip... well at least in my twisted mind. And while we don't know exactly the contents of the inputs that go into these numbers... I think we have enough of a clue to conclude the numbers will remain relatively weak. It may not hook down to a -20, but a long duration of WLI below zero still cannot be good case for economic growth.
I'd very much agree with that. It's almost like volume - a few blips or some reset in the numbers isn't a major indicator of significance. Now, if it sits there (or similarly a ton of shares trade at a given number) that tends to lend credence to a number.
AUD/JPY definately not working. Is that strange smell a flash-crash coming?
We can only hope. Anyone else think VIX is lower than expected here?
Yes the VIX seems to be too low for the past two days action. Something seems afoot on that. I am assuming the low volume (even though we had volume yesterday), so I am thinking of loading up on more as I believe that VIX will pop here shortly.
Elections tmr, Yen meeting Monday, no surprise shorts are covering or at least paring back exposure.
Just waiting for the upward momentum to peter out and no QE in Japan to go way short.
I like hearing alternative views, but have to say JB's constant rant against the "8% premium" on gold coins really ruined this comment area...
Johnny Bravo is our token douche nozzle, and none of them get it. Theyre all in one 'camp' or another with their believe their asset of choice will rise, what they dont realize is theyll bagholderize all of ya!
Gold knowitalls like JB dont realize that the elites own TONS of gold to your ounces, and will be happy to tank it to the basement to wipe you out. There is no trade, only control.
Eh, they've already tried that, and it worked, until the other central banks stopped cooperating, and those left started running out of gold.
Like yesterday, all the 'smart posters' were saying get long for POMO...where are they today and how did they do with that long?
I was wondering exactly that (minus the mild sarcasm - the few comments which did effectively answer your question were along the lines of waah!/wtf?). Perhaps the Ataris have been reading ZH, and realised people were on to them? Markets do seem to be sl-o-o-wly creeping up on [insert random slightly optimistic headline reason here].
There are certainly a lot of details like that to take into consideration.I read and understand the entire article and I really enjoyed it to be honest.
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