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$1,200 - Check. Sideshow gold preparing to turn the lights out at the printers.
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Hey, thats GOLD...be-e-otches! (Sounds better).
bitches be trippin'
how long before there is a hostile takeover of one of the big gold mining companies ???
Don't expect that to happen anytime soon.
Gold to the Ferderal Reserve: "ALL YOUR BASE BELONG TO US".
End of Transmission.
"YOU HAVE NO CHANCE TO SURVIVE MAKE YOUR TIME."
China say: ALL YOUR BASE METAL ARE BELONG TO US.
Idiots! The govt & fed want the value of the dollar to go down. Its a concious decision/stategy by the administaration to help increase the country's exports. Problem is all countries want to have a week currency thus gold is going up relative to all currencies.
In the East End markets they are already shouting, "Ged your spuds & goldgrams ere!"
http://goldmoney.com?gmrefcode=gm99
How come no article celebrating yet another 52 week low in the Dollar?
I'm thinking a pic of champagne bottles, party hats, kazoos, lots of confetti and to celebrate winning the race (to date, naturally) you throw up some "USA is number 1" and "Mission Accomplished" banners.
Let's party!
I have gold but I get paid in dollars so, Mixed feelings...like Larry Wildman going off the cliff in my new Maserati.
That's why we own gold, as an insurance policy to the declining value of all fiat currencies (not just the dollar). I don't want to see the dollar collapse and gold soar, but it's all but inevitable, so I might as well protect myself and make some money while I'm at it. We can't let the bankers be the only one's to benefit from the destruction of the US Empire.
Close, but haven't seen it breached today - so far...
Not until it breaks all time low, 70.70.
Very interesting point, deadhead.
Every new low in the DXY and high in gold is a resounding vote that investors globally have lost confidence in the Federal Reserve and their money printing strategies. Its resulted in other central banks doing the same race for the bottom. "Mission Accomplished" as it relates to what the Fed has created seems very fitting, indeed.
Funny stuff.
It has little to do with losing confidence in the fed. All countries want to devalue their currency hence gold is going up.
Now let's all hope LME and comex go broke upon delivery
Spot catches up with little brother GCG0! We knew you could do it!
Grand Supercycle to retort in 3, 2, 1...
HAHAHAHAHA!
Thanks, Tyler.
I am Chumbawamba.
Yeah Chumba, I saw that and thought they stole your line. heehee
I'll just pretend it is so, and in either case I'm honored ;)
I am Chumbawamba and GOLD BITCHES!!!
No doubt it's you buddy.
Frankly, I couldn't have thought of a better title for this post.
I am Chumba's buddy Gordon Gekko proudly ANNIHILATING all Gold bears.
Hahaha. Feels good, don't it? Of course, this is nothing to celebrate, really. Just one more signpost on the road to the ultimate destination of hyperinflation and mass destitution and suffering.
I am Chumbawamba.
For those who refused to listen to us i.e.
I've been doing my part and have made a few converts, but far more refuse to open their eyes, including some of my family members who still prefer to stay safely ensconced in their warm dollar bubble.
I remember when I was a kid I had a bed wetting problem. Put aside the psychological issues, which at the time I'm sure were great, but I remember feeling so nice and cozy waking up in a warm puddle of bed piss; I never wanted to get out of bed. Well, that's what those who are holding on to hope in the dollar are doing right now: feeling safe while they lay in a puddle of their own piss.
Wake up and change the sheets already!
I am Chumbawamba.
Great..... financial advice from a guy that pisses all over himself then publicizes how comforting that scenario is.
Perhaps you're enamered with gold because of its color?
Yeah, I'm sure the call girls you pay to piss all over your face are really "enamered" with the financial advice you give to them, hmmmmmm?
I am GOLD BITCHES!!!
GOLD, BITCH!
hey numbnutts,
don't jack with chumba....we like chumba....:)
Anon = pissant
http://www.urbandictionary.com/define.php?term=pissant
A rich wall street pissant, I might add.
Carry on, bitches.
When you fully realize what's going on, it will be too late.
What part of GOLD, BITCH! don't you understand?
Please enlighten bitches on "what's going on." Thanks.
Anonymous Rich Wallstreet Pissant,
"When you fully realize what's going on, it will be too late."
Do tell. Come on, you know you want to gloat some more over us bitchez...
LORL (laugh out REALLY loud)!!!!
Don't ever change man. You are a treasure.
Bed wetting is not a psychological problem. Our bodies grow at different rates as we age. First your hands and feet grow then your shins and forearms then your upper arms and thighs then your main body. Organ capacity is a back burner issue for the growth rate. If you got the extra materials it keeps up if not it falls behind.
I once grew 6 inches in 9 months. Ask me if I wet the bed.
can the two of you take this discussion to dr phil dot com or something?
(ROTFLMFAO)^2
A new internetz acronym: WML = Wetting Myself Laughing
Hey MsCreant! How you been? I've been busy getting work done around the house hence have been posting only sporadically. I have been meaning to publish an article here on ZH to sort of put forward the roadmap ahead for us goldbugs but can never seem to get it done, plus the market has been moving way too fast. This PM ride is something isn't it? Doesn't it feel wonderful getting "investment advice" from internet anonymouses, forums and a hotch-potch of independent (but uncorrupted) sources of information and actually seeing it work!? Certified Financial Advisor, my ass! Like Mogambo sayz - this investing stuff is easy! (if you know the truth i.e.).
Hey Gordo,
Went in big on the PMs (least big for me and my modest means). If it tanks for a dollar unwind, I have a very long outlook, so I'm good. I have almost made back the commission on the last 13oz. I bought, some eagles (need gold @ 1204 to be even). But my increase from the rest covers that wayyyyy big time. Got over a 100oz of silver too, got a decent deal, 84 cents over spot, my dealer had just purchased a lot of it. I'll get little breaks from him cause I'm a girl :-) But realistically, I am a regular, too.
But yeah, I don't trust you, or AN, or Chumba, or ZH, or Mish, or India, or China, or (I have read so many lately), but put together, particularly when you start reading up on the history of crashes (I mean holy sh!t, to get to my age and not be exposed to that, alone, OMG) this is the right thing to do, long term.
So thanks, I loves da bugz! All-a-yous!
Ms. Creant
Much obliged, maam.
I want one of these that says: GOLD BITCHES!
http://upload.wikimedia.org/wikipedia/en/7/73/DRIsleeper-Wireless-Alarm.gif
Chumba dude;
A rain soaked sleeping bag in a summers tent is still warm and only mildly unpleasant. We are born warm and wet. I never thought it wouldn't be so bad.
It gets cold and sucks after a few minutes though . . .
Refuse to listen to you? Not at all. Just that I'm not in the mood to make 20% per year speculating on a useless metal when I can make 200% a year playing the markets and capitalizing on fear mongers like the folks on this site. Tyler gives advice for people to buy inverse ETF's, then craps all over Ben's bubble-making policies (ie: liquidity), all the while supporting another bubble forming in Gold.
And it's not Gold Bitches.
It's another Bubble, Bitches!
I am not Chumpawamba!
Call off the search, we've finally found him: the guy that gives head to Ben on a nightly basis.
Also doubles as a bottom for Hank and Timmay. Simultaneously. You dirty whore.
Gold. Bitch.
I am Chumbawamba.
I can smell your breath from here, chump.
Tone it down a bit.... gold is a family show.
yeh he has gold plated knee pads.....
Can, could, will, and did are very different.
I am calling bullshit on your 200% return.
You don't even know how idiotic you sound when the world's greatest investors can't crack 80%. The last story of a daytrader I heard was some poor guy that lost his $500k and decided it would be better for his family if he offed them with a hammer.
Don't be that guy.
ARE YOU DEAF? GOLD, BITCH!
You must know these guys - from March '09 lows:
Bank of America $2.53 - $19.10 increase of + 755%
Goldman Sachs $59.13 - $193.60 increase of + 327%
JP Morgan $14.96 - $47.47 increase of + 317%
Citigroup $0.97 - $9.00 increase of + 928%
Oh look. Banks with printing presses know how to self agrandize.
And so do corporations with massive advertising budgets.
The Pope.
The president.
etc etc etc.
Bitch, I want percentages in gold terms
How much was your gain from 10-2007 to 03-2009?
Take your mask off, Timmay. Halloween was last month . . .
And USD is below parity with CHF...am I seeing that right?
Soon it will be below parity with the Bulgarian lev. Means nothing.
Why no CNBS Gold 1200 hats?
HAHAHAHAHA
+100 awesome
Was this the easiest trade in history or what?
Let's see, $1.25T in new money printed to overpay for Fannie/Freddie MBS, how is that going to affect the dollar?
Totally.
That's just for starters. The fed.gov needs to scare up something along the order of $3-4T next year to cover both ongoing deficits and re-finance some short-term notes that will be coming due during 2010.
Who is going to be purchasing this debt? No one, that's who. The Guidotti-Greenspan rule was exceeded some time ago. The only recourse is to print.
This sucker, by which I mean the USA, is going down. All the way.
The other way to get back into the rule is for oil and gold to appreciate dramatically since they are the largest hard assets in the US reserve portfolio. Printing helps those reserve assets increase to "cover" the short term debt (12 month maturity).
The only problem is that a large increase in oil kills the economy, so that leaves us with...gold!
Gold is the only answer.
The one thing I've learned about investing is that the most valuable asset you can have is patience. Don't make a trade just because you have cash burning a hole in your pocket.
Sit on the cash until an obvious trade happens.
In this case, the obvious trade was to sell dollars and buy gold. Actually it was an obvious trade when the Fed dropped interest rates, Bush slashed taxes, and we went to war back in late 2001. Shortly afterward I started buying gold.
Gold hat or Viking Horn Helmet?
Any chance to bust out a viking helmet is one that should not be squandered. :-)
http://www.aceros-de-hispania.com/image/helmet-viking2/helmet-viking2.jpg
Viking Helmets did not have horns. The horns would rip the sails.
They instead wore tough leather hats that kept their heads warm from the cold north sea spray.
Regards, A Viking.
So then they cut holes in their leather hats for their horns to poke out?
I am Chumbawamba?
This is what happens when you f*ck a stranger in the a$$.
That was awesome....really funny. You owe me a keyboard.
Or, in the television version...
"This is what happens when you find a stranger in the Alps".
Go Banana!!
Don't forget GLD's kinky 'lil sister SLV.
haha. SLV >$100 by Dec 2011.
Unless, of course, the fraud of SLV/GLD is exposed by then.
Just stick with the DB futures-based products. Better tax treatment (as recently featured in Barron's), and no cognitive dissonance about the existence (or lack) of physical commodities in "the vault in London" LOL
Oh I meant the real thing ie. coins or bars. The ETFs will be worthless by 2012-2013 I think
Dude, I doubt they can keep the scam going that long. I'm guessing end of 2010 at the very latest.
I am Chumbawamba.
Why is the premium on the Krugerrand going up?
because they're not made from paper...
+1000
+AWESOME
I am Chumbawamba.
The premium on most gold and silver coins is going up for good reason!! Lots of scandals brewing with large bars being tampered with, and coins, (especially Eagles) are going to become the most trusted unit of both metals, so they are probably worth that premium...
Silver or gold rounds, bars, or anything unidentifiable as a brand name coin, will be seen as questionable if you are trying to sell it, so WHY take that chance??
Also--not sure if you all noticed this HUGE story, which was leaked over the holiday---The US mint has suspended all sales of Gold and Silver eagles because quite frankly, big demand from small investors is scaring them.
While gold might be a great "store of value", I think silver has the most incredible room to run.
Just my 2 cents--
Your 2 cents must be in the form of gold as you are correct.
All US gold coins will command large premiums not just 5%.
Just watch the MS US gold coins like the St Gaudens. Even the lower MS grades already carry an almost $1,000 premium over spot gold.
I love Agustus St Gaugens [kiss-kiss-kiss].
PS: Silver will do just fine have paticience.
The US Mint is required by law to meet consumer demand. Are they breaking the law (again). Is it okey-dokey if I break the law too?
I can cite precidence...
I hope so!!!!! I'm going after banker's wedding rings!!!! A sixth of an ounce a pop wil pay off in the long term . . .
I wrote an article on this over the weekend (actually I wrote the article hung over in a coffee shop, haha) and I also put it in TWIM
US mint halts sales of gold and silver eagleshttp://www.zerohedge.com/article/us-mint-halts-sales-gold-and-silver-eagles
Wonder what happens when the pres opens his yapper tonite?
Check the most appropriate box:
War is:
___ Deflationary
___ Inflationary
Ask Douchinger, maybe he and the priceless dollar cult know
100% correlation with DXY continues. anyone who is long and thinks they wont get burned if we have a negative event happen only has to look at the dubai scare and the dxy fat finger trade from two weeks ago. if u are long gold here, u are speculating on dollar-carry just like the moron momo-gunners in every other risk asset. the proof is there. deny all you want, but its right there.
Yeah, risk is there, but in the event of global sovereign debt / currency crisis, do you really want to have all your money in computer pixels? I say hedge with USD and gold but thats my 2c.
well, the way i am positioned is short equities (clearly working out awesomely) and long medium dated puts on UUP. i cannot justify being long gold/silver here at all. not after the last two contra-proofs.
I hear you, bro. We are clearly in the last stages of the risk cycle, as GLD and the commodity complex in general is outperforming SPY.
The issue is that there is no inflation anywhere, and the Taylor rule is rebel yelling "more, more, more". There are enough bank reserves to take care of the treasury market, and it looks like little guys are coming into the market to take up slack. Without inflation, there is no pressing reason to pull the plug.
So, we have to wait on random event(s) like Dubai^2 to trigger the reverse. Could be a tiring wait. In the meantime we have JPY/USD "no, piss on me" contest .
It is never fun being a bear.
The issue is that there is no inflation anywhere
The 'flation argument is a red herring. This is a reserve currency shift.
We'll see. I the other hand expect a dollar short squeeze that will provide a new risk cycle.
And why is there a currency shift from USD? Perhaps, because BB is running the printing press 24/7? Debase the currency, ie expand the money supply, and therefore create inflation.
Yes, but to call it mere 'inflation' diminishes it to something almost 'normal', something we've seen before and will see again, something that is not historic. Certainly, what we're seeing now is historic, or perhaps epic.
Reserve shift away from fiat.
We're at the end of a multi-century era here, guys.
Peak energy means that. There's no growth future to borrow against. Transition will be from paper promises backstopped by ASSUMED future growth to effective barter
Even Sir Alan Greenspan has concurred recently
I certainly hope so. That spike down served up an awesome place to get more long.
Uh, you need to do some serious research and stop reading Denninger. Over the nine years of this Gold Bull Market, gold has had its largest advances while the DXY did basically nothing.
Go do some serious research with the charts.
These kinds of debates merely confirm that speciation takes place even in micro-environments. What we can observe in the financial blogging community are two divergent opinions:
* Hopeful optimists (Denninger, et al) - "Gosh darn it, we're 'Mericans. We can do it!"
* Realistic observers (B9K9, et al) - "Human nature always dictates the final debasement."
If you were examing a foreign country that no longer had any productive basis, yet still possessed a mentality of its former glory days, one that was rapidly expanding social spending while engaged in multiple wars, and was busily replacing the last of its productive class via importation/subsidization of low-IQ "voters", would you want to hold either its currency and/or sovereign debt?
Now do you understand why those with financial means have bugout abodes located overseas?
+FUCKING UNBELIEVABLY AWESOME
I am Chumbawamba.
More comedy from this wiseguy:
So which one are you? One of those mindless, "We're number one!" 'Mericans, or one of those who understand what Jared Diamond & Richard Lynn are saying? (Ironically, even though Diamond professes to disagree, his books actually disprove his main points.)
A lot of people @ZH tend to dismiss the notion that GS is populated by the "smartest guys on the block", yet who more than others have carefully prepared their exit strategies?
Well, I'm here, ain't I?
But I love your logic that I'm either an idiot or on your team. Just about every single one of your posts has either an insult or references a book for the 'enlightened ones'.
Incidentally, I have noticed the same thing about Diamond; his evidence and recitation thereof actually disprove what he is trying to assert.
The most interesting was when he explained lack of civilization in Africa as a selective adaptation caused by malaria's propensity to strike down concentrations of people. IOW, "blacks evolved away from civilization behaviors."
As for Douchinger; he was warned. But he's not that bright. He hasn't yet figured out - nobody did - what FUKD meant when I was posting on his forum a month ago. LOL
I argued the realist case on TF a couple of years ago...everything I said would happen did happen. He was wrong over and over again. But the cult these people surround themselves with is unassailable with reason.
yea Denninger runs a pretty tight lil Jonestown over there...there have been purges of dissenting voices at TF etc....BUT, if there were even but 10 oh Lord, of our legislators with an ounce of patriotism and a true sense of public service, Karl's prescriptions for the financial system would be spot on for a fix....
His problem has been his ongoing mindset of "they wouldn't dare, that would wreck the country"..."the bond market vigilantes won't allow BB to..." and "gold is just a paperweight"....
We all have our blindspots don't we? No one expects the spanish inquisition.
Only in our common era. (Boy, did I enjoy those early episodes!) This thread is getting ready to die, and I've mentioned this before, but grab a copy of Robinson Crusoe and quickly (re)read the first few chapters.
What is immediately striking is the pervasive, overriding concern for personal safety and awareness that at any time, in any place, if someone could harm, capture/enslave or kill you, they would do so without the slightest compunction.
Take a look at Boswell's journal (he was the author of Life of Samuel Johnson); right out of the box, he's fearful of highway robbery and murder. I mean, this shit happened every day.
If our schools only taught two things, we'd be a much better country:
* law of exponents (h/t KD);
* the philosphical underpinnings of the state (ie promises of "protection" in exchange for servitude)
We were once free men but are no longer. When everyone expected "the spanish inquisition" at any time/place, there wasn't any room for shenanigans. The long knives came out at the first hint of trouble, especially if it came from the direction of "city slickers".
I'm moving down under... bye bye miss americxn pie, this'll be the day the dxllar died...
don't do it DOD...they have poisonous snakes, fish, insects and BIRDS
best picture of america & UK
what lamb meat and sheepskins are not productive resources enough for you?
Plot GLD against UDN in relative terms and you'll see that over the last six months GLD has outperformed UDN by 15%. For the last 12 months, its outperformed by 23%.
While it is true that the ups and downs correlate, the two are still diverging.
"if u are long gold here, u are speculating on dollar-carry"
er, no, we're speculating on Obamadolla DROP!
Just getting started on second leg
The all time high (and resistance) of gold in euros is 800, no?
Seeing this technical indicator and the large collection of 1200 calls, if a stand is to be made, it would be here.
I think gold will put a floor irrelevant of all other events. China will probably keep converting its excess currency into gold,simply because it won't trust any of its trading partner's money. But what about equities?what about the general public cacthing the trade and cashing their retirement funds and converting them into gold?Me think that this would be a nice subject for questioning in the confirmation hearings. I bet you that many people are scared now including congress,probably more so than the Lehman crises. It is not about retirement's fund value,rather it is about a way of life.
Look at the dollar in terms of gold....72 broke over a month ago...
$USD:$gold (Not against other Fiat currencies)
also
$SPX:$gold (what rally?)
in stockcharts..
Correct, USD is a fake-out and doesn't measure anything except itself.
All are beginning to learn that Gold Is The Measure Of Value.
Chinese New Year; look for some Asian central banks to announce transfer of gold to the new repository in Hong Kong from NY & London. reason; stay in Peking's good books.
Result???
Lotsa assay certs required-61
Gold, the Comex and Exchange For Physical
This report comes via John Cheney.
We would not conclude that you cannot get gold from the Comex in the exercise of your futures contract. "Cash settled" is nothing new, and we ourselves have done this in the past. But we also have taken delivery, and have been speaking with other traders and funds, and many are spotting a trend.
Comex is putting forward the offer of paper in the form of money or ETF positions very aggressively, and making it the much easier alternative. Delivery of physical gold from the Comex is no longer as straightforward or even as semi-convenient as it had been in the past. In fact, it is difficult, and one must be very persistent and wait long periods of time.
We would like to know if there has been a recent independent audit of the Comex stores, with a clean sheet of bar numbers and the status of same. From what we hear it is a mess, as bad or worse as the recent scandal in Canada and the missing bullion.
The conclusion we reach for now is that if one is counting on the ability to receive delivery of physical gold from the Comex for whatever purposes, then don't. You will wait and fight and stand in queue to obtain the goods from Enron nation.
The theme of the day is 'appearance versus reality' in the lair of the vampire squid.
Posted by Jesse at 9:21 AM http://jessescrossroadscafe.blogspot.com/2009/12/gold-comex-and-exchange-for-physical.htmlIf any of us read and understand anything today in the context of gold and this revelation about COMEX, please make it this:
http://www.professorfekete.com/articles%5CAEFTheVanishingOfTheGoldBasis.pdf
Excellent post, and THANK YOU.
The FED hamsters are on the wheel, trying to prevent the exposure of Madoff II on a much grander scale.
Good GAWD--this is getting scary.
Great article, thanks, I might do a follow-up on this
This second leg of the gold rally will really take off when GLD starts trading at a sizeable discount to physical gold. The COMEX will then evaporate into thin air.
Who will make markets in physical gold? Probably the Chinese I guess.
I think there is a realistic risk of GLD (the ETF, not the physical stuff) getting seized by the government in order to 'protect financial stability' or other b.s., but this authoritarian move could definitely only happen under 'emergency' conditions like a banking system crisis or a big war in Pakistan or something along those lines.
If that happens though they will separate shortly before the nationalization or crisis I think and there would be all sorts of wierd insider trading signals ala Bear Stearns.
I was not refering to a possible nationalization which may also happen. Since GLD can be used for delivery against COMEX a large portion of the "gold" they are supposed to have in physical form is not there any longer.
This is the reason many of the large "players" have left GLD to take delivery of their physical gold. This created a "hole" in GLD to fill in the "hole" in the COMEX.
When these holes are discovered by the market it will trade both of these at a discount to the actual physical price of gold.
In the event of an actual nationalization of gold then all ETF's are neaningless as well as the COMEX which accomplishes the same thing but the "discount" to physical gold is now 100%.
In this case you had better have your gold either out of the country or in actual physical form in your possession. A somewhat similiar thing happened when gold was trading in various countries at prices much higher than the US prior to Nixon going off gold in 1971.
Bet there will be a real physical market in gold trading in Asia somewhere, probably in China.
TOLD YOU SO.
Feels good, don't it. And to OWN it.
If only my gold were a bit warmer and wetter . . . ; )
I would absolutely LOVE to hear from Karl Denninger and Robert Prechter right now.
or Nic 'Dollar Rally' Lenoir? Good luck trading, Nic.
I am going to start referring to people like that as "dollar bugs".
I prefer "dollar fags", but then some might get offended. To those who do, don't: I suck cock all the time.
I am Chumbawamba.
you and barney f?
I already did. Great minds etc., you know.
I wouldn't. Fuck those two flaming ass hats.
I am Chumbawamba.
Karl Denninger never likes gold in his lifetime.
Denninger is a good guy, but if he thinks hallucinated computer pixels will be useful during a 'hard stop' he is mistaken.
Don't have to agree wtih everything Denningers says to respect when he i in fact being very brilliant and perceptive.
I don't believe the bonds are as real of a thing as the bond guys make them out to be. I think the people who own most of them just burn them once in a while to keep the image of the debt alive.
And I don't believe in deflation lasting for very long but I'm not going to stop listening to the people who worry about it. If belief makes things real then hallucinated computer pixels are as hard as a lexan riot shield.
Brilliant and perceptive? Hardly. He's smart, no doubt, smart enough to see the fractures in the system, but too dumb to figure out what's causing them. In the end, he's a fiat monkey who loves to bathe in paper assets and thinks the game can be fair if only it weren't so rigged.
What a douche. And I'm speaking for everyone who's ever been kicked off his forum for besting him in an argument. Which is to say, many.
I am Chumbawamba.
Yes, he does kick out people, who is gold bug or in disagreement with him. A narrow mind guy, he is.
It's detail orientation. I am balanced on big picture and detail. I go enough into detail to keep myself from looking like a complete ass but not to deep into detail to make it a mud pit to wallow in. He's too deep into the details. But he finds some neat stuff there.
Never argue with a facist. Which highly detailed people ultimately become.
B
I
N
G
O
I got banned after I cornered him in a Peak Oil discussion. I was TravIsGod then. Yeah, this was AFTER Cantarell peaked. Now he mentions Cantarell but still can't accept that oil has peaked. I argued inflation, got banned. Ghostwrote some shit on synthetic debt and what was "causing" things, and he moved the fucking posts to his Gold forum. Then my verbiage started showing up in his freaking tickers.
Went back as "FUKD" and got posting restrictions for laughing at him over STILL refusing to accept Peak..he calls it a religion. Fucking religion? After he acknowledged the then 34% drop in Cantarell production? This ain't no religion mfer.
The dude wants the paper economy to continue; all his cult does. They want to be the vultures with cash who get to buy up everyone else when the "reset" comes.
He thinks the problem is we're in a con game with fraud; no, the flaw is SYSTEMIC, like in the Matrix. Can't accept peak energy because the consequence is that everything he knows as far as "capital markets" and fiat paper has just got blowed up. Who's gonna pay to listen to his blather in a post-peak world where real things matter and fictitious hallucinated pixels don't?
Except the "cash" he thinks he'll use to buy stuff up will be worth dog poo. Mr. Denninger will himself be getting reset - into BANKRUPTCY.