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Explaining Gold's Sudden Move
From Credit Suisse (names redacted):
Few things on GOLD’s move – My colleague [] hearing Egypt's banned Muslim Brotherhood movement has unveiled its plans to scrap a peace treaty with Israel if it comes to power (per a deputy leader in an interview with NHK TV)
And my other colleague [] pointed to the $2.5~3b notional that was bought in gold futures through the intra-day high of $1,338 - was bought over ~5min.......
VOLs haven’t budged, so NOT seeing much protection being bought, but Gold telling something else.. Will keep u posted if I hear anything else.
Is gold once again the geopolitical canarie in the coalmine?
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Mubarak also joining GS.. has to wait for departure untill his office is goldplated and decorated...
Everything is up today. Those 4 guys with the sacred keyboard are good. A digit here, A digit there + enter.. Its all good.
The Muslim Brotherhood and the (eventual) scrapping of the peace deal with Israel is just the usual rethoric that has been used as an excuse to keep Mubarak in power by the west.
Please don't fall for that trick! It has been used in Iraq (as a barrier against Shiite extremists from Iran) and now they try the same with Egypt.
The irony is: the more they use these kind of excuses, the more of a self fulfilling prophecy it might become...
I meant of course Iraq during the reign of Saddam Hussein.
That is the same thing they told Jimmy Carter
in 1979!
The real irony: it has actually fulfilled itself in many Middle Eastern countries.
Like a few others above hinted at, this quote seemed to me an obvious reason (if you needed one) to buy some gold:
"Although economic growth will probably increase this year, we expect the unemployment rate to remain stubbornly above, and inflation to remain stubbornly below, the levels that Federal Reserve policymakers have judged to be consistent over the longer term with our mandate" – Ben Bernanke, remarks to the National Press Club in Washington D.C., February 3, 2011.
It's like The China Syndrome. The inflation gauge Ben is relying on is telling him that inflation is low.
Anyway, a $20 move in gold is a rounding error. The main thing is that being long gold is the way to be short central bankers.
Explaining Gold's Sudden Move
Simple: I almost bought some yesterday.....
Bummer!
I had an unusual knack of having gold go down just after I bought (short term). But, each time it went up when I gave it time.
Ben was warmily received by the Press Club today and got a standing ovation at the conclusion.
Obviously, people are in love with his free money (Negative Real Interest) policy!
Alan Greenspan will tell you the truth, you just have to listen!
http://www.youtube.com/watch?v=yRJs5yL62BA
The US dollar has never been a safe investment. Granny needs a safe yield!
Ben Bernanke, "Central Banking is an ART"
http://www.youtube.com/watch?v=M06k9H4jsEg
I hope you people have some gold and silver!
I'm still 90% cash in long-term account. That's right, cash. Crash is a coming - don't care if it's tomorrow or 10 years from now. But the SPX will test 666 again (and blow below it in my opinon), so what is the point of taking a chance that it is tomorrow.
Can't blame you. Safer than stocks. But buy some lovely .9999 silver Maple Leafs to counter the inflation monster. I'm risking half my savings in gold and silver miners. Rest is in real metal. The coming market crash may knock the miners silly. Thinking I'll take profits on the next leg up in the PMs. Enough to reduce my margin exposure quite a bit.
Ok we all sorta know the future here even if we cant exactly predict when it will come about. The rebalancing is going to be an upward revision in lots of consumption items and real estate stabilization or slightly lower. Closing the gap has been a nice little opportunity for some.....but there are some simple things you can do. The latino markets have the cheapest stuff...beef hearts are great...just strip off the membranes and make beef tips and rice.with your storage food. Grow some fruit trees. Liberty apples.dont need a spray...neither do blueberries, montmorency or surefire cherry trees, che, asian persimmon, blackberries raspberries, some pears, and a bunch of common exotics. Plant a couple of fruit trees. Trade with your neighbor. Bike to work every once in a while. Pick up that 66 cc bike engine from china cheap. It is epa registered...yes most places have a 50 cc limit but i have never been stopped and neither have most people. It is so small and quiet no one even notices it. Google it i forgot the name. Even a few semi wealthy trolls do this. I dont understand why more people.dont do some edible landscaping. My neighborhood association made me cut down my front yard garden, but edible landscaping is acceptable..start off with something easy that doesnt re require spraying and is disease free a liberty apple on dwarf root stock. You will be taxed more in the future. There are plenty of black and gray market goods that arent stolen....get friendly with your local latino grocery...they will turn you on to the.cheap stuff. Plus they are xheap hard working labor for all your lawncare needs. Dont hose them though. Build a relationship. And last take more free time and enjoy life. The motherfuckers havent figured out how to tax indolence yet. Seriously this wont be that bad and any way you can remove yourself from the taxing system by even the planting of a single fruit tree is a small victory
Some nice chunks of good advice there, top!
Anticucho, putaz!
Free time cannot be taxed. Take more of it, even at work! And remember if you worship bob at the church of the subgenius bob will give you slack. Slack is precious and it is bob's free gift to mankind.
Every day is a holiday for me!
and
I work every day!
Semi-retired, putaz!
...
Good point re free time not being taxed. Also, NOT SPENDING is like earning more without being taxed.
So, stop working and spending! Hang out by the pool! Spend more time at ZH!
...
Who be junking us?
Wise thinking. I like to add my 2cents. Buy Willis Jeep, manual transmission, with diesel engine. if you have one acre of land, plant Jatropha Curcas plant. Squeezing its seeds will give you about 350 gallons of non edible oil which is a replacement of diesel. Manual transmission engine allows you to push start engine and need not to worry about dead battery. There are very cheap oil extraction plants available around $700, google them. One step closer to self sufficiency.
The obligatory: Waddell & Reed
Max Keiser and Sandeep Jaitly from bullionbasis.com discuss gold standard, backwardation and other issues:
http://maxkeiser.com/2011/02/03/keiser-report-silver-stick-for-jp-vampir...
Max Keiser+Alex Jones+Gerald Celente+Webster Tarpley+Ron Paul have literally changed the world for the better.
almost 8.5 million views for the Obama Deception! Tell me who called it better? Uploaded March 2009 to youtube
http://www.youtube.com/watch?v=eAaQNACwaLw
How about, it's simply time to resume the bull? PMs have been consolidating, premiums have been going up steadily past few days, MACD is about to cross signal, buying side has been waiting, ...
Or not. Thing is, sometimes there's just no simple reason...?
As an aside, I'm very curious what platinum will do when PM's turn again.
Sorry one more question - can someone tell me why so often when we look at the gold and silver daily charts, we see all the same moves in the same directions at the same time, on different days. For instance compare Feb 1 and Feb 2 - it hit the daily low at the exact same time. Last week there were two days in silver that traced each other perfectly notch-for-notch except day 2 was $0.80 higher.
Forgive me for being a newbie but I'm trying to understand how this is possible? The odds of it happening must be very very rare?
It's not coincidence.
Click on this link.
http://tfmetalsreport.blogspot.com/
Turd Ferguson explains the ways of JPM's Blythe Masters and her flying monkeys therein.
The Egypt brouhaha has been going on for many days. I don't think you can pin gold's spike to anything having to do with that. This was all about QE3 as per the bernank today.
Hey what's all the worry ... inflation, hyperinflation, Egypt, Yemen, Jordan, Obama ... It's Super Bowl weekend it's all good.
http://www.gallup.com/poll/145922/Gallup-Finds-Unemployment-Slightly-Jan...
double
Dear Yahweh/Allah/Jesus/Shiva/Buddha/Zeus/Moroni/Bokonon,
I know that Thou can merely wave Thy great hand and bring my Lord's justice and a thousand deaths upon the evil manipulators, bankers, hedge fund managers, and Bilderbergers/Rothschilds/Rockefellers/George Soros' of our markets, but please let them manipulate my favorite asset before striking them unto dust.
"But when you hear of wars and commotions, do not be terrified; for these things must come to pass first, but the end will not come immediately.”Lk 21:9
"Commotions" means unrest in the original language. Looks like it will soon be time for the AntiChrist to make a little 7 year peace agreement between Israel and these folks...
Cramer is the stopped clock.
and a ten-year clock at that
so is that one correct *once* every ten years, or *twice*?
JFC, FRG went apeshit today...a fund I own has this as its 3rd biggest holding as of 12/31. Happy birthday to me!!!
gold is selling into asia's open.
goldman sachs aint telling anything, new..just wait for china to KO it's housing sector. energy sector should overtake gold.
Egypt = gas/oil futures flattening, then meltup. someone is going to make a ton of cash on this
TF,
Right on man! Read it every day.
Doc Jim
junk.. egypt/izrael/etc.. Massmedia dies to divert attention from what realy happening
only reason is 10yy bond.. it break out 3.5% level..
bigger %rate, bigger cost service, bigger printing..
isnt 10yy $rate BEST INFLATION FORECASTER..
ALX
If I ever observe a shortage of Ag in my hometown I will buy Platinum or Rhodium next. The Au/Ag ratio should at most be 10. It doesn't take a quant to figure that one out.