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Failed Japanese FX Intervention Sends Gold To $1,300
At least one asset class is very much happy from the BOJ's latest FX intervention failure (see chart below): gold. Spot is pennies away from $1,300 and will pass it within hours if not minutes. To all those who still fail to see why the world is forcing a return to that barbaric relic - the gold standard - our condolences: keep shorting. To everyone else, to whom the fiat devaluation story presented on Zero Hedge almost 40% gold percent ago, is now as obvious as to those trading the JPY, well... 40%. Nuf said.
And a snapshot of BOJ intervention halflife. Pathetic
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Wow! Already worse! HA!
Amazing, how all the paperbugs of the world disappear when their pet theories dissolve into fiat mush.
Wealth consists in THINGS and/or ABILITIES, not pieces of paper or evanescent numbers in a computer. Pricing THINGS in terms of NOT THINGS is ass-backwards. Gold is not at a new "high". One ounce still weighs an ounce. On the contrary, all the BS-"money" (paper, fiat, ass-wipe, whatever you want to call it) is now trading at an all-time LOW to real money.
As ever it has, and will, in the history of the world.
Go to the "bank". Tell them you want all your little pieces of green paper, NOW. And go trade those little green pieces of paper for someTHING which is wealth (either something which preserves your wealth, oh, maybe gold/silver/etc, or something which helps you GENERATE wealth, oh, maybe tools, or land, or office equipment, or more knowledge about a subject that other people will pay you for). Because the little pieces of paper, or the little numbers on your screen that SOMEBODY ELSE has current control over, are going to dissolve into a stinky little mess.
Be like the boy scout.
Regular people don't have many pieces of green paper left in the bank, and when they do get a few they go towards things that they can eat (or play music, videos, and video games on, which, come on, honestly, you can't do THAT with gold). On average Americans don't care about generating wealth, they care about generating something that gives them the ability to consume, so greenbacks work just fine.
Have you guys ever heard of being dead right?
Yup. We're right, you're dead.
With comments like that, you should be banned for not having enough intelligence.
Gold is the most uniformly acceptable currency in the world. You can exchange gold for any fiat currency in the world, and then use the fiat to go buy things you want to eat.
You should be banned for being so myopic; it adds little to the conversation.
You miss the point because you are to worried about proving to me that you are right about gold being valuable. I am not debating that, so I don't know why you are getting defensive about it.
Take the gold out of your ass and you might not be so cantankerous.
On average Americans don't care about generating wealth, they care about generating something that gives them the ability to consume, so greenbacks work just fine.
Spitzer realized something in your post smelled like rotten fish, he just missed what it was. But I found it. Are you American? Or from Old Europe?
All that matters is that my English ist fast perfekt.
Wait, I thought we were supposed to put pennies in our ass, not gold. I'm so confused.
http://www.comedycentral.com/videos/index.jhtml?title=ass-pennies&videoI...
Hmmm... so, wealth does not confer the ability to consume? And there is something else OTHER THAN wealth which does? Redefining the word "wealth" is an interesting debate tactic, but even the most inexperienced tyro can see through that.
Yes, Americans DO care about generating wealth, even it if means they intend immediately to consume with it. And greenbacks will work less and less well, with every single passing day.
Be like the boy scout.
"Wealth consists in THINGS and/or ABILITIES, not pieces of paper or evanescent numbers in a computer."
Looks like you made your own definition of wealth. People can consume based upon numbers in a computer. They do it all the time and they like it because it is easy.
I spoke no ill will of gold, you gold bugs are just too defensive. I just sometimes think that you don't profit from defining your own reality, you profit from the reality of the masses.
I am not sure how you can "[speak] ill will", but we'll let that pass.
I always attempt to be offensive, not defensive. You don't win playing defense.
1) People can not consume based on numbers in a computer, the numbers just faciliate the distribution and consumption of things and abilities (including the computer which was produced through many millions of man hours of research and development)
2) What you define as the reality of the masses is not reality, its ignorance. Reality is bubbling along just beyond their grasp just fine. True you can make some money off a fad or an error in the masses judgement, or from what they believe which just aint so. When you say 'reality' do you just mean belief matrix?
+1300. I exchange my FRNs for real stuff as fast as I earn them. I do not save FRNs at all. This perhaps explains why consumer spending is not cratering at the moment. More people are catching on to the fiat scam and exchanging their paper for real things.
You are wise, and will be very, very happy. As will your children. Continue to ignore the brainless herd and their "government is all" mantra.
When the currency begins to fail, the government will follow.
Be like the boy scout.
When the currency begins to fail, the government will follow.
I believe this is very true! Times are-a-changing and things will get better. MUCH better.
> when their pet theories dissolve into fiat mush
Heh. To paraphrase Mike Tyson: everybody has a pet theory, until they get HIT.
+100.
" 'Tis only a flesh wound! I can still bleed on you!"
And anyone who believes that the world is returning to a gold standard, even a defacto one, is a fool (at least in the developed world)... Savor the valuation of gold relative to fiat whilst it lasts because this temporary schadenfreude is the only value you will ever receive... There is no difference between paperbugs and goldbugs... Both camps fail to grasp the objective reality of value (???) for which any monetary medium of exchange is merely a physical/visual representation...
Here's a good start, go with it... Or not...
http://en.wikipedia.org/wiki/Nicholas_Georgescu-Roegen
http://stockcharts.com/def/servlet/SharpChartv05.ServletDriver?chart=$silver,pltcdanrbo%5Bpa%5D%5Bd%5D%5Bf1!3!!!4!20%5D&pnf=y
Gold bitchez!!!!!!!!!!!!!!
Wow. What can you say? Below pre-intervention levels. What a train wreck. I suspected it would at least hold a bit, didn't see such a drop coming so soon. Makes Hildebrand look like a genious, at least his intervention lasted 2-6 hours.
But, but, but, but.....Turbo Timmy says the Chinese are curreny manipulators. Shouldn't we focus our attention on those damn Commies? How about Ahmadinejad? Can't we talk about him now? Ohhhhhhh doesn't Boehner fucks printing lobby gals!!!! Obama is Kenyan.
Pay no attention to the Gold canary.
I know, I know....terrorists, terrorists, terrorists!!! 911, taliban, terror, terror, terror.
is Joe Weisanthal= Johnny Bravo?
am JonnyBravo
Johnny Bravo... Johnny Bravo...where do I remember that name from. Wasn't he the guy who was really bullish on Gold?
Johhny Bravo...just another loser in a plethora of losers who believe in Uncle Scam..because their college diplomas told them to...these idiots have no thought of their own,...heck forget about thinking in the box...these morons werent capable of thought in the jungle gym in elementary school ..they rely on the scum that is paraded onto the stage.... by their employer..the Federal Reserve... onto CNBC..the shill of all propoganda...I laugh watching Sqwuak Box..the 3 idiots sit aroung and nervously disparage gold..saying how expensive it is..and then in the next breath.they are stupid enough to admit they dont even understand gold..great its too expensive..but you dont even understand it...wow..and these are the great economic minds of the times....shouldnt be long when the crash hits..and they parade the same scum up there to say...NO ON SAW IT COMING......
Too close to option expiry. Too many calls at the round # 1300 level.
The EE will beat it back. Just be patient.
How long will they succesfully fight the tide?
All the attempts over the past few days have been pretty unsuccesful.
There are 6773 Oct10 $1300 calls outstanding. There are 426 Oct10 puts. Expiration is Monday. Do you think the EE would like to keep the price under $1300 until 1:30 Monday?
...and silver? How we lookin' there?
Silver is holding above 21. Seems to imply it and platinum will go for a rocket trip as they fulfill their duties of replacement gold.
http://www.youtube.com/watch?v=p_orbW1y1to
What the Empire is doing in gold today would be comical if it wasn't so outrageously criminal. USDX down .86. Silver making new highs. EE suppressing gold under $1300 to keep 6400 $1300 calls out of the money thru Monday. Sickening.
Turd - you've made some great calls. Congradulations.
One question. What's the EE? Or why would electrical engineers want to beat it back?
EE's need it for circuits duh
EE = Evil Empire I think.
An EE is one of those FUCKING ACRONYMS that people use to place themselves in a POPOY.
What's EE got to do with POPOY? What's a POPOY? lol! No serious.
another fucking acronym!
Oh, I see. I hadn't noticed.
Ok,Ok.
It means Position of Power Over You. Please Don't Spread It Around. LOL.
Evil Empire?
Savings Bonds??
Thanks for the morning laughs. I needed them in the face of the bald-faced EE protection of 1300.
I've referred to JPM et al as The Evil Empire for years. Others call them the bullion banks, the cartel, the banksters, etc. For me, the Evil Empire has always just worked. We gold/anti-fiat bulls are the Rebellion vs the over-powering Empire run by The Fed.
Regarding today, isn't it amazing that gold fails to fully participate? I suppose there are some fundamentals as no one seems to want to be the first to be long with a print of $1300.10. Most of the action, however, are fresh paper shorts provided by the EE.
The chart shows a clear "Swiss Stair" accumulation over recent weeks. This is very bullish! Don't get me wrong, the EE will keep trying to generate downside momentum by freaking out weak-handed longs. Someday soon I'm sure they'll succeed again but the victories are now fleeting. The buyer(s) of size are there to hit every 1% dip bid.
Lastly, to continue with the Star Wars theme, the Comex is the EE's Death Star and let me tell you, brother, the Death Star is crippled and running on fumes. That fucker is about to blow. Maybe not in the next few weeks, but almost certainly in 2011. When it does, we "rebels" will have won a great victory. All who scoff at gold $2000 and $4000 and $5000 predictions will stand astonished.
You are TOO funny..., but it works.
I am with you there Turd. To celebrate the new high I could not resist exchanging some more paper for another gleaming slab this morning. Personally targeting 1365-1375 before any significant pull back.
Sounds about right. Santa Sinclair says 1369.
Personally, I'll get itchy around 1350. Wait for the $25-40 pullback and then load the boat with Dec10 calls.
you are usually spot on..but I think the ballgame has changed..forget about around 1300...they are going tom get their heads handed to them from 1250 to 1290......the last 3 out of 5 expiration times ...they have been blown out of the water..incliding the last 2 straight....big players are now hell bent on bringing down the criminal banking cabal.....they are tired of the corruption....look for Bof A to drop dead soon...officially..followed by other large institutions short gold and silver ...it is coming..
+1.5 Quadrillion about the banks.
Charts
Gold futures appear to be relatively flat and may actually be in a topping process.
http://99ercharts.blogspot.com/2010/09/gold.html
Silver got a bigger pop but could it be a "blow-off" top?
http://99ercharts.blogspot.com/2010/09/silver.html
Meanwhile, S&P futures continue on their merry way...down.
http://99ercharts.blogspot.com/2010/09/es_24.html
Good luck.
Topping and blow off topping will not occur until the fundamentals that are driving gold and silver change. If anything is "blow off topping", it might be intervention.
+++
The true reality for JPM, Comex, and the porn surfers at CFTC and LMBA is that it is always difficult to accomplish anything when your balls are in a vise and you are watching the handle turn, and turn and turn and turn.
Sounds like a typical day in short territory. Or in the average US regulator's S&M fantasy land.
Silver pretty solidly over $21.30.
Oh my.
21.34 in silver was the old 2008 intra-day high. Highest since 1980. James Turk has been saying exceeding 21.34 is the beginning of an explosive in silver. $25-30 around the corner in a few weeks. Trader Dan has been saying exceed 21.50 on volume and $23 could be here in a flash.
My take is if the Evil Empire starts short covering combined with a physical metal squeeze all bets are off. We'll see, but it is very interesting to watch.
9:15am Au $1300.30 Ag $21.410 Whooo Hooooo!
12:50 $ lower. Ag 21.43 Au 1296.90
Does anyone seriously still question the existence of the JPM-led Evil Empire? Option expiry is Monday. There are 6700 $1300 calls purchased back in the summer that will expire worthless if they can keep they lid on thru 1:30 on 9/27.
Personally, I'd like to see the ChiComs or the Saudis take a gigantic, gold-plated auger and use it to bore out the assholes of each and every EE stormtrooper in the gold pit.
Maybe one day they will but, apparently, today isn't that day.
Silver got a bigger pop but could it be a "blow-off" top?
http://99ercharts.blogspot.com/2010/09/silver.html
Lets try this one more time people because its apparently a super hard thing to understand. Personally I think people are sometimes being dense on purpose. But here ya go... Oct 8, 1979 to Jan 21, 1980 saw a rise in gold of 128.50% in that time frame. And that, people, is a blow off top. Very quick, and LARGE, price appreciation in a very condensed period of time.
Lets look at silver, its just now finally above, or almost above, the level in 2008, you know, a good 2 years plus later. A blow off top/bubble? Really? Really?? Really???
If youre asking the question then its not a blow off top, those are obvious to everyone
Can I get a GOLD BITCHEZ for the 1300!
Yes, you can
...and ES futures will gap through 1130 just in time for POMO. Get ready for another reaming, shorts.
DOW and SPX futures soaring like hell also...already made up the entire mini-drop yesterday.
Man, what a crock of shit.
this post sounds like reggie. is that you reggie? what have you done to tyler?
Damn, I was gonna buy some more this weekend. Guess I won't be able to get as much.
Douchinger must have gone for a swim in the gulf and lit himself on fire afterwards seein as the pretty doorstop sells for 1300/oz now
I respect most of what you have to say because, well, you're right. A bit arrogant, but right. The thing is, your obsession with putting down Karl, gives him power. Why? Cause a bright guy like you can't leave it alone, means you think a whole lot of what Karl thinks, including thinks of you. Karl seems to always be a cunt's hair from your radar, or on it. If he is the douche you say he is, don't give him the power of talking about him all the time. It is unbecoming of one so otherwise righteously spot on.
+++
It is unbecoming?
As is a "cunt's hair", from the lips of one so divine, MsC.
The irony, the irony.
Ya gotta speak their language and grab their attention. Communication is like that. Trav7777 is definitely like that.
And I am, after all, as advertised, A MsCreant. Irony folds in on itself and dissipates. All is well.
Thanks for your sweet words on the other thread about my PM purchase.
M'lady, the pleasure was mine. You must be sleeping well.
You know it's funny, I really am. I kept waiting for the dip that didn't come (it probably will). I may end up down a couple hundred fiat in the relative short term (been through being underwater on a PM purchase before) but the time I spent worrying about it I'll never get back. Bought it and it is done. I am moving on like I needed to.
Weird having peace, knowing it is falling apart. Volker and the Obama press secretary coming out yesterday saying it ain't coming back for a long time, the reality is finally getting out there. I know what is happening. I have spent way too much time studying it. But no one else around me knowing, it is kind of like being constantly gas lighted.
Peace big Al Go.
I keep feeling the top of my head for the tin foil. I am not the sharpest knife in the drawer, but I walk around feeling like I can see the future, and most of those around me have no clue. One of us is going to be wrong.
I know how you feel. The majority not knowing is what's killimg me. It's like watching Bizzaro World from the inside. Sometimes I feel like they are the ones free to walk around the cages and look in at the ZHers, exhibits in a zoo, like some weird Planet of The Apes parallel.
How come? Let that codependent streak go. I only respond to the people who want to know. My desire to get a milk carton and stand on the corner with a "The End is Nigh!" sign has gone away.
Say, when will we start some serious discussion about stocks being in a bubble? This gold bubble talk is silly, eh?
Rocks, you are an evolved Raccoon. Have some compassion for the rest of us. You see co-dependence, I personally don't want to be guilty of blind arrogance. I constantly tear apart my thesis simply because things change, and if I am complacent and don't reexamine my position, challenge it, those around me who are not on this will suffer. I am quite convinced I am going to end up with a large household of folks I'd really rather not have all under the same roof with me, many of them entitled drama queens (male and female). They don't know, they think I am nuts, and still I earn and save the best I know how. And when I do take them in, they will not get it then either. Just how it is. Knowing is responsibility. If I am wrong, wow, I could stand down some. I'm not. I've been reading and calling all my shots right since late 2004. The economy was not something I was intrinsically interested in. Organically came to it after I started to comprehend just how bad things were on the resource depletion front. I have always been about individual development. Had to pull my head out of the micro and into the macro. Never trusted history so I never read it. That puts me waaaay behind the curve.
Random rant. But Rocks, we are all at where we are at. This is a wonderful place for me because of the support. And you get to talk to the most wonderful characters. Who would da thunk that I'd have a talk like this with a sage Raccoon?
Thanks for your reply, Missy. I can see your point(s), of course. There are those I would take in to my house as well, some of them not being of my personal persuasion regarding economic conditions. They would not be relatives since I have none within reasonable driving distance from where I live. Some might be able to complement my own survival skills, and I'm not talking Mad Max scenario, just hard times.
How long will you support the drama queens? It will be much harder to move them out than let them in. Were I you (and here is where the going gets rough) I might look at establishing a base of operations away from your know residence. When the time comes to liberate yourself, you just disappear, and reappear at your back-up location. That would come as a shock to the dependent people you left behind. Is that cruel, inhuman, barbaric, or just self preservation? Beats the crap outta me. We all have to do what we think is right.
I'm with you on the history thingie. I'm not an avid history reader nor do I care to except when direct parallels are pointed out to me. Just as I don't need to read the biography of Cyrus McCormick to plant a garden.
Denninger is a total douche..there ...Ive said it...not to mention a freakin block head...lets see how much fiat the bone head can chow down when hyperdrive inflation kicks in..what a maroooon...he is can be cast for thre new stooges movie coming up....if there was one that is..
its another beautiful day in the PM world; kudos to ZH who has been spot on;
we may get a hard pullback, but it will just be another buying opp
Silver still has a lot of Butts to kick for being fondled the last 25+ years. Who the hell knows what Silver's real value is anymore.
What a nice smiley doggy you are. Got many more oz a couple days ago.
A spike means intervention?
Doubt it.
agreed. Probably someone just trading a large order sloppily. There was no followthrough with the spike. Also the size of the spike wasn't enough as it only was pushed up to 85.25, less than the previous push upward.
How in the hell can futures be up 1% this morning? Once I get all of my positions squared up, I'm done with this game...and I've been doing this for 25 years.
Congrats! Join the rest of us protesting this shit by refusing to be in it.
Don't forget to turn off the lights!
It's POMO Friday. Wall St loves welfare for the rich.
cnbcs:
"TWIW": cartel buyers need to sell to take profits = futures sold overnight in offshore markets = gapdown open in US markets = POMO pumping = higher prices until latest injection of free money runs out = gapdown open=more POMO.
the offshore hidey hole can be used to either pump, or dump, depending on what up at the dark pool reflector....for zh'ers the current terminology, i believe, is "wash, rinse, repeat..........."
Now lets see if my boyz at the Crimex can come through and push gold back down $20. PLeeaaazz! Or am going to be eating dog food
LOL
I'll play along.
Jon Nadler and his crew, with their little balls of blue.
You're already eating dog shit so dog food would be an upgrade. :>)
The nation-state is dying. Fiat money is the killer.
The history of the nation-state, as we know, is a sordid tale of theft and military conquest and coercion and trickery and manipulation and lies. But one lie stands out above all the rest. It is the lie that in the end trumps all other lies. It is the lie that, in time, will precipitate the coming of the end of the age of the nation-state.
That lie is fiat money.
The successful employment of fiat money is built upon the entirely false premises that (a) the potential for "growth" is limitless and that (b) the power of the nation-state to maintain control over their populations too is without limit.
A quick review:
Basically, in its current incarnation the nation-state relies upon ever-increasing amounts of fiat money in order to maintain the functionality of an increasingly complex web of systems and infrastructures. Collapse of course becomes inevitable because in a finite world "growth" has limits, and because the end of "growth" means the arrival of contraction---and in such an inter-dependent and "growth"-addicted system, contraction quickly becomes collapse . The house of cards becomes too fragile and the whole things comes crashing down.
Take a look around! Our environment teeters on the brink of disastrous change, the nations of the world are struggling to survive (and to grow?!???!) under the weight of literally hundreds of TRILLIONS of dollars of increasingly unserviceable debt, one-sixth of the people of the world go to sleep hungry every night---and still our leaders desperately attempt to prop up the faltering system with more printed paper!!?
And at the very heart of the failure lies our fantastic belief that we can control nature and the laws of nature and the will of men through the creation of pretend money.
Fiat currency is a lie. It is a lie because:
1. It only has value if people believe in it: otherwise it's just "paper"---or nowadays, unserviceable IOU's.
2. It is the unbridled engine of unsustainable levels of growth.
3. Its employment always exacerbates class distinctions.
4. It is purposefully manipulated to keep the masses from knowing the truth about their lives.
5. It is the ultimate, unregulated tool of unbounded human greed.
Take a look at what is happening in the world today. Men are printing trillions of "dollars" and using those printed dollars to fund wars of conquest and occupation, to create increasing wealth for the wealthy and increasing poverty for the poor and incipient poor, to fool the people into believing that the government has things 'under control', to subsidize the destruction of our environment. In a world of irredeemable currency, men play god. The people of the world have no check on their power. In such a world, representative democracy becomes a farce, a charade.
At some point, this type of system eats itself alive. It is a runaway train on a finite length of track. And while I do not expect to witness the demise of the nation-state in my lifetime, I suspect that things will, over time, get much much smaller.
Welcome to the 21st century.
what's going to replace the nations then?
i think they will still be around...
Tens of millions of smaller communities, in a world run by a global financial elite.
Hundreds of millions would die first.
Agreed.
Babylon the great, mother of all harlots.
I agree with most of what you said (especially re. fiat) with a few exceptions/questions:
"Our environment teeters on the brink of disastrous change" - Que pasa, what disastrous change? I suppose the suns cyclical spewing of particulate could be considered this. however it happens every 12 or so years.
"the nations of the world are struggling to survive (and to grow?!???!) under the weight of literally hundreds of TRILLIONS of dollars of increasingly unserviceable debt" - I think you will be very surprised at how strong our nation (ruled by TPTB) comes out after this fiat / debt scare. I still hold the belief that what is happening is a manufactured process designed to allow TPTB to continue the stranglehold (and fear) of our nation and the many other nations they control. Fear is what keeps us from opening up our minds to see what is truly going on around us.
"one-sixth of the people of the world go to sleep hungry every night" - I will get several junks for this statement. Modern medicine and modern growing techniques are to blame for many of the worlds ills. "Give a man a fish and you feed him for a day, teach a man to fish and you feed him for a lifetime."
@ Blankman
Your points are excellent. My argument is surely replete with hyperbole and far-out prognostications. HOWEVER...The Western style nation-state is a relatively "new" things, perhaps 700 years old, give or take. (Post-Renaissance period) Republican Democracies have become utter fallacies under fiat currency systems. The grand illusion is that power rest with the government: but that is simply an artifice. Power rests with the money, and trillions of dollars in virtual wealth, that is used by the super-rich to claim ever-larger metaphorical (and real) tracts of land, and that is purloined from a shrinking middle class/productive capital base, eventually leads to the complete feudualization of societies.
RE: "...The grand illusion is that power rest with the government..." OR even more preposterous is the assumption that the PEOPLE are sovereign...which of course is what Republican systems of governance are supposed to promote. A farce indeed!
Regardless of the use of Fiat the present age is the ' Age of Independence'.
Here is a small digital example.... http://www.mapsofwar.com/images/EMPIRE17.swf
um... I havent heard any confirmation of the intervention from any sources, which makes me think it was a rumour that some longs reacted to in a hurry.
You don't actually believe they'll let stocks fall before the end of the quarter do you?
The vote-buying rally will continue until the votes have been cast.
Gold call options expire on the 27th If the past is any guide to the future anytime now gold will drop like a stone, Gold is due a correction at least given its last few months rise, Its been good watching its move and who knows it may continue much past the 1300 mark, its just me it just looks too good to be true.
That assessment is SO 3 months ago...
No, this seems to be different. In light of OpEx coming up on Monday, the cartel would have taken down the price most of this week. That did not happen this week, making it 2 months in a row where the expected bear raids either didn't materialize or didn't have the usual effect so many of us came to expect. There goes serious dip buying...
Agreed..., and something doesn't feel right about it. Besides the fact that I need to add to my core on a pullback that won't come, it's almost like The Man wants the price of gold up.
FOFOA had a scenario he described where an end game could unfold to pay back some sovereign debt. Greece has quite a bit of gold. If the price went to the moon, Greece, and other European countries holding gold could very well get themselves out of the hole by selling.
I know this is not what you meant. THE MAN may well want it up a bit to take some profits and then let it fall to stick the rest of us with the bag. Once you know they are manipulating, all kinds of stories become possible. You don't say much on these threads but I always enjoy your comments.
Ya judging by the last 3 months of call options. Gold could drop as much as 8 bucks monday. It's going to be a bloodbath. Or a bloody tampon or maybe a bloody bandaide.
Whatever it's going to be a HUGE HORRIBLE EVENT. You can count on it.
LMAO!!!
CRINGE.....
;o)
Gold is good, but take a look at Corn and Cotton since mid July.
I can't wait till genetically engineered gold that humps all day and grows so fast it breaks your safe open.
You silly goose. If that happened gold would not be a store of value! Then everybody could own gold. Do you know something we don't?
</sarc> </paranoia> </stupidity>
I have the GLD taking out the top rail of a triangle....I believe we're in a 2007 environment, both for stocks and gold.....in 2007, gold started rallying in July and didn't stop till March 2008....I think gold hits $1500 in Q1, 2011.
What are futures doing being up 112 right now?
Defending the SPX 200 day moving average in front of the end of the quarter.
Gotcha, good call. Thanks
See, it's a new algorithm designed to protect our financial network from the terrorists trying to it take down . must be alkayda. don't worry, you don't need to know.
INFLATION
The market "price" is going up relative to the value of the exchange medium, dollars. So it stands to reason that the more dollars are available to the TBTF banks, the more money flows into the market, the higher the price of equities. What is sad is that since we psychologically measure the health of the economy on DOW levels, it artificially makes it look like we are recovering. It would be like if I traded my pounds scale for a kilogram scale and claimed I lost a whole bunch of weight.
The parasites are killing the host
the time is upon us shortly...when the host realizes what is happening..and in turn disembowels the parasites...
I wouldn't call it a failure.
For those who are long gold.....
I think Ben has issued standing orders to every Investment Bank he knows. BUY ANY DUMP OF FOREIGN CURRENCIES. He was not prepared for the first sale by Japan, but this showed the world he will do WHAT EVER is necessary to complete his mission
It truly is a race to the bottom...Why is everyone so intent on winning.
PS: This does not change my mind...there will be no hyper-inflation in the US. In the end, the USD will be come out of this remaining as the world currency. You can not have hyper-inflation in the currency the world uses, nor can you have global hyper-inflation.
You can't have global hyper-inflation? Last I looked, gold was hyper-inflating in every currency. Gold's gone global, next stop galactic. See you on the dark side of the moon.
Gold can not hyper-inflate. Currencies inflate, hyper-inflate or deflate. Inflation or deflation is nothing more than the relative value of a currency with respect to goods and commodities. Gold happens to be one of those commodities.
TD and Marla. As much as I love the 'junk' button, I would love even more an 'I agree!' button, an ITA button would be super!
The BOJ failure is interesting from the point of view of attempts to control the gold market via their currency.
Some folks told me I was a dope when I bought some more physical a few days ago. Ha! HA I say! I'm guessing $1400 is not far off.
Yeah, gold has gone up. If it has gone up in a truthful manner, whey is the yen strengthening? Alright gold bugs, tell me why the yen is going us when Japan has 200 % debt to GDP, a demographics bomb as exports are dropping. I think they are known as speculators. Enjoy your little gold spike!
The Yen is going up because because the loss of purchasing power of the dollar since 1985 is the opposite side of the trade:
http://stockcharts.com/h-sc/ui?s=$XJY:$USD&p=M&st=1980-01-01&en=(today)&id=p26579836264&a=181133547&listNum=2
The yen is going up because it is a safe haven. Yes, the dollar depreciation contributes to this. The main reason why is speculators are deluded into believing the yen is the safest best in the world because it was in the past. I call BS! They will eventually lose their shirts when Japan becomes a third world nation.
So Vampy, you think the overall outlook for gold/silver is bearish? Really?!?
In the short term yes. When the next panic comes professional investors are going to be hit with massive margin calls from over leveraging. They are going to liquidate everything including paper gold to save their jobs, which they will lose anyways. Gold bugs have an affinity for gold, most investors are indifferent to a shiny metal. Over the long run, when the masses finally wake up, gold and silver will then appreciate as the fiat system collapses. The collapse is not here yet. We at ZH know what is going on, but we represent a small portion of the population and investor class.
Gotta give em credit, at least he is out trolling when it is "up" rather than coming around only when it is down. There is a kind of integrity in that.
Edit: Read what he said above. I'll not change this cause I wrote it. I think the above is a very likely scenario. I just want my PMs now so that I don't need to try to find them later.
MsCreant, I am not a troll. I appreciate the information on ZH. It is very good. Often, we have members who are obsessed with the Mad Max fantasy and use this to promote their gold and silver bullish positions. Dabbling in the markets make me realize that who is controlling the markets are the wealthy classes and big time investors. ZH has pointed out this fact, which is good and a hell of a lot better than the MSM. I am taking a perspective of all stock and commodity markets being overvalued at the moment and that includes gold/silver. As I said, in the long run gold/silver will rise in value when the dollar becomes worthless. We are not at that point though.
I should have been more clear, I wanted to take back the troll thing but I did not want to be a weasel and change what I wrote, so I edited it. Apologies.
No hard feelings. I enjoy arguing when people are willing to listen. It is when they are not willing to listen to different opinions their credibility diminishes. They are all dogma with not logical arguments to back it. I am not a professional investor and I am slowly learning how to invest to old fashioned way, through pain.
I see what you're saying...but I was talking specifically about physical bullion. Nobody I know buys that for the "short term." It's not like flipping physical is generally profitable. I'm looking months or years down the road, not days.
You're right about ZH; I'm just starting to understand a lot of the technicals, but this site has given me more real info than I've ever gotten from the financial media. It's a bit like drinking from the fire hose, of course, LOL.
I have come to the conclusion that our leaders want us to be stupid financially so they can propagate this economic fraud on us. ZH educates on these topics and thus why we are dubbed "tin foil hat" people.
As your argument for physical delivery, it makes sense over the long term. It is a good hard asset to own under any situation.
Its not just financially stupid that they want us. Its stupid about pretty much everything. Add in indoctrinated and incapable of critical thinking skills and they've got a passive herd of sheep ready for shearing and eventual slaughter.
No. I'm not wearing a tin foil hat. Mine's made of silver.
:o)
Not quite as good as silver bullets, though.
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