Gold, Bitches - $1,200

Tyler Durden's picture

$1,200 - Check. Sideshow gold preparing to turn the lights out at the printers.

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Anonymous's picture

yeh he has gold plated knee pads.....

Apocalypse Now's picture

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.

Gordon_Gekko's picture

ARE YOU DEAF? GOLD, BITCH!

WaterWings's picture

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%

Hephasteus's picture

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.

Mr. Mandelbrot's picture

Bitch, I want percentages in gold terms

Anonymous's picture

How much was your gain from 10-2007 to 03-2009?

Mr. Mandelbrot's picture

Take your mask off, Timmay.  Halloween was last month . . . 

SWRichmond's picture

And USD is below parity with CHF...am I seeing that right?

Anonymous's picture

Soon it will be below parity with the Bulgarian lev. Means nothing.

LoneStarHog's picture

Why no CNBS Gold 1200 hats?

ghostfaceinvestah's picture

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?

B9K9's picture

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.

Apocalypse Now's picture

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.

Anonymous's picture

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.

bugs_'s picture

Gold hat or Viking Horn Helmet?

Grifter's picture

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

Windemup's picture

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.

chumbawamba's picture

So then they cut holes in their leather hats for their horns to poke out?

I am Chumbawamba?

Daedal's picture

This is what happens when you f*ck a stranger in the a$$.

Anonymous's picture

That was awesome....really funny. You owe me a keyboard.

Anonymous's picture

Or, in the television version...

"This is what happens when you find a stranger in the Alps".

jm's picture

Don't forget GLD's kinky 'lil sister SLV.

Project Mayhem's picture

haha.  SLV >$100 by Dec 2011.

Gordon_Gekko's picture

Unless, of course, the fraud of SLV/GLD is exposed by then.

Anonymous's picture

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

Project Mayhem's picture

Oh  I meant the real thing  ie. coins or bars.    The ETFs will be worthless by 2012-2013 I think

chumbawamba's picture

Dude, I doubt they can keep the scam going that long.  I'm guessing end of 2010 at the very latest.

I am Chumbawamba.

Anonymous's picture

Why is the premium on the Krugerrand going up?

SWRichmond's picture

because they're not made from paper...

Anonymous's picture

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--

Jim ODonnell's picture

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.

Selah's picture

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...

Mr. Mandelbrot's picture

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 . . .

Project Mayhem's picture

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 eagles

http://www.zerohedge.com/article/us-mint-halts-sales-gold-and-silver-eagles

Lndmvr's picture

Wonder what happens when the pres opens his yapper tonite?

trav777's picture

Check the most appropriate box:

War is:

___ Deflationary

___ Inflationary

 

Ask Douchinger, maybe he and the priceless dollar cult know

Oso's picture

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.

Project Mayhem's picture

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.

 

Oso's picture

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.

 

 

jm's picture

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. 

SWRichmond's picture

The issue is that there is no inflation anywhere

The 'flation argument is a red herring.  This is a reserve currency shift.

jm's picture

We'll see.  I the other hand expect a dollar short squeeze that will provide a new risk cycle.

Overpowered By Funk's picture

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.

SWRichmond's picture

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.