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Gold Breakout
In today's most hated move by the Federal Reserve, gold is surging and not looking back. The LBMA must be panic-dailing Gordon Brown to bail them out yet again as gold is preparing to surpass all time record high, not only in Euro terms, which is a daily occurrence, but in dollar as well. Alas, JPM's hands are tied now that the firm is solidly under the DOJ's microscope for decades of PM market manipulation. Too bad gold in terms of gold does not exist...yet. We are sure Barclays, pardon, BlackRock will come up with an ETF for that too.
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Got Gold?
Got Silver...
Got Bitchez?
What is ya, ignorant? The bitchez is in the limo.
Tell him the good part, Lloyd.
The good part, Ben, is that no matter whether our clients make money or lose money, GS & Co. NEVER loses any money ever, even for 63 trading days in a row.
Well what do you think Mr. Paul?
Sounds like you guys a couple of bookies
now that's funny...
there's a bitchez ETF???
Something, bitchez
ok, i guess i have to be the one to say it, this whole "bitches" thing is getting annoying - massively overused and now that it appears 17-50 times in every conversational thread in every post, it is detracting from the actual utility of shared information.
so, lets move on. bigger story is that Silver is moving. would love to get colour on what JPM is doing right now in the pit.
Couldn't agree more!
Gold and Silver Bitchez!
Gold and Silver Bitchex!
My apologies to Oso. Its been a good week and I am suffering a bit from irrational exuberance, which I am sure the market will adjust soon enough!
You used a "Z" and I offered the "X" version. That should mix it up some.
Bitchez Bitchez!
you can't eat Bitchez... Bitchez!
party pooper bitchez
I agree. The more I read the word "bitchez" on here, the more I think this blog is reaching the uneducated populus. Sounds like a bunch of LA teenagers. Once we here words like "wit" "fo sho" "cuz" etc etc we will know that ZH has infiltrated harlem LOL
This from one who ended their comment with "LOL"...
Please get a sense of humor.
Reread what you just posted. Get back to me on who is writing things that make themselves look uneducated.
BTW, what if ZH has infiltrated Harlem? That is bad because...
We wouldn't want folks, especially po folks, improving upon themselves MsCreant. That just wouldn't support the system!
Seriously Dude, I apologize for dragging my undereducated college dropout ass into your house and puking Schlitz up all over your carpet. Wherever you bought it, it sure looks expensive. To emulate South Park, (which is about the extent of my intellect), "HellaBitchez"!
fo shizzle!
It's the guys from Columbia U that are doing it.
"SW Harlem in da house, bitches!!"
he is right, quit it bitchez
Gold and Silver Bitchex!
fiat taking a haircut
berma shave
But I don't want a haircut... Pony Tail bitchez
Eurosystem's (ECB + 16-Eurozone centralbanks) Gold Reserves are down EUR 1 milion for week ended May 7 to Euro 286,698 billion worth of Gold. While that looks almost unchanged I guess it still means they sold some as Gold in Euros quotes at historic highs every day!
A tipping point
short-lived, it appears. Gold now down over 1%. Odd, actually.
Gold down in terms of what? Silver?
Your source is no good. Try kitco.com
I love me some gold breakout post in the morning. When will yipgirl show up and try to put a harsh on our mellow?
The can't eat gold folks are MIA. They have went the way of the Wankster
Also, there are those out there who hate gold (Douchinger and everyone he hasn't banned from TF) along with their dopplegangers here.
"Oh, the gov't can seize gold." OK, whatever. Why did the gov seize it in the 30s? Because it was competition for the FRN. Gold WAS the old currency there; they wanted to devalue so they had to seize the old currency and replace with the new one, the unbacked FRN.
To those who think the dollar rulez...cannot the gov't seize your dollars? They can merely establish a NEW FRN and make all the prior ones invalid, requiring you to turn them in. Cash in banks? They can electronically lop off your account or revalue it. There is no persuasive advantage to cash versus a precious metal in terms of the gov's willingnes or ability to seize it. Bank of Sealy? LOL. Banks of Sealy have gotten busted out so many times in the past 20 years in various countries that it isn't funny. The only Bank of Sealy that worked was forexing your soon-to-be-confiscated domestic notes for some denomination in another currency. IOW, translating your wealth OUT of domestic paper. The FRN is that domestic paper.
There's silver, platinum, and rhodium even if you hate yellow things.
How are the G-men going to confiscate your gold when you pay cash to your local bullion dealer?
Anonymity is your friend.
Wise and true words to live by...
Although kitco.com is kind of hated here at ZH, I did see that they now offer Rhodium in 1 oz and larger amounts in tamper-proof plastic containers.
Rh went down from its $10,000 high to some $900, now back up somewhere north of $2k.
If Kitco is hated here, it is only because of the egregiously disingenuous, rabidly pro-bankster and pro-establishment, visciously gold-loathing, puerile and obnoxious misinformation and outright lies passed off as "analysis" by Kitco's official spokesman, Jon Nadler. The man is almost a parody of himself in his over-the-top attacks on gold and, most especially, on its advocates and owners, whom he mocks and disparages as "Radical Goldbug Extremists". He is devoid of logic or reason, as I have learned firsthand from two running email exchanges I have had with Nadler, in which he was simply laughable in his lack of honesty, and in his inability to rebutt or even address challenges to his anti-gold propaganda.
Nadler is the worst sort of snake, a narcissistic sociopath who scoffs at morality and sneers at integrity, and who will stop at nothing to peddle the elitist, criminal, paper Ponzi-pushing agenda of his central banking allies and masters.
One must have some physical gold in reserve. End of story.
hell, even just ONE bar would get you started right in the post fiat world
Silver still lagging the market, but I think that changes soon. JPM is scum and I hope the charges are brought quickly before they can get out of the scam. They stand to lose billions on a silver squeeze. Silver should be at least $75 under normal 16:1 ratio to gold. How these crooks get by with these things for so long I don't think anyone understands, other than the fact our regulators are asleep at the wheel daily.
JPM Chase is opening a Gold Bullion bank in singapore in q3 to run there own etf from..That doesnt pass the smell test..Anyone here have an idea of what they may be up to?
Gold is being set-up for a good hard swat. It serves no purpose to allow Gold to continue to clearly show the failure of internationally monetary policy, rather it remains an irritant. One head fake as to interest rate stabilization, one whiff of concocted normalcy and Gold will tumble hard. On the other hand, a systemic breakdown of the whole system will result, as it always does, with an equally hard tumble. So what do you get for your $1,235? 5,000? Not a chance in hell.
Are you short?
I've seen you're kind here before.
Chief Running Bear say when meet man with words of iron. Check vagina for sand. Probably cast in there.
"On the other hand, a systemic breakdown of the whole system will result, as it always does, with an equally hard tumble. So what do you get for your $1,235? 5,000? Not a chance in hell."
You need to look at 1933. 1933 will teach you much.
I wrote too soon. Should have kept my big fat fingers curled up...
Best laugh all morning...Tnx..
1250 for 5000 you betcha
300 to 1240 done
gold will get you a place at the table ,, nothing gets you in a bread line ...
nothing downgrading to be on food stamps or bread line .
but with gold many will set at a table of new opportunitys
Would that be a $ Trillion European swat?
8.41 Mountain EUROUSD 1.2708
that paper fly swatter is getting kind of overused and has grown increasingly threadbare in the present context and is now merely a stick being shaken at the gold steamroller, Mr. Bronson. gold has managed to take a lot of hard swats so far and has just picked up, dusted off, and resumed its inevitable ascent. interest rates will remain at zero. the last evanescent "whiffs of concocted normalcy" disappeared with the massive trillion$ european debacle. the only thing I detect is the acrid odor of your "international monetary policy" empire burning to the ground. Turn off your TV and the old Charles Bronson reruns. Come out of your cave and look around. Its a whole new world and there is no more "as it always does".
May work for a week..........or two, people (more) are waking THFU.........
HOLD...............no way when the SHEEPLE wake up,( and it's going to be real soon) NOTHING will be able to stop it.
NOTHING.
Your own words negate your premise...
"one whiff of concocted normalcy ".
TD (lol): dialing, perhaps...
Sum Ting WONG!!
Weirdest candle stick chart EVA.
I wish I could afford Gold.. so I do silver... oh and lead too :)
Silver is a gateway precious metal. You'll be into gold before you know it.
If that 16:1 historical ratio slams back after a long estrangement the silver crowd will be vindicated 4x over. Silver would be pushing $80 instead of $20. It's cheap as hell folks.
http://www.taxfreegold.co.uk/goldsilverratio.html
Its important to own the physical gold and use futures to hedge any massive spikes higher and not the other way around. Do not think your safe to just buy GLD or GC/YG as they are mere bits of paper. If you own the physical and you hedge the downside with paper, if paper gets wiped out you still have the physical packed down under the pig sty.
So the argument that physical is iliquit is bs when you can hedge in the paper markets.
Zero Hedge on GLD and SLV
www.zerohedge.com/article/guest-post-gld-and-slv-disclosure-precious-metals-puzzle-palace
My guess is that Claude and Manfred are now buying Gold with their Euros.
The Greek political Thriller was a wake up call for the average Northern European - and they have a lot of Euros.
Its going to be hard to get philharmonics soon.
I read here the other day that the coin dealers in Europe are seeing big sales of bullion.
Any other European posters care to let us know about physical demand/sales over there?
Fairly high in my little corner of Europe.
At least in the south of Germany, Austria and Switzerland bullion is almost sold out.
see http://westgold.de/html/prizeList.php
for example. (ausverkauft = sold out)
On Austrian gold website Hartgeld.com are reports that most German bullion dealers are sold out.
Another big bullion dealer has some left in the web shop; but there might be a long delivery time.
(nicht verf. = not available)
http://www.proaurum.de/edelmetallshop/gold/barren.jsp?action=showSearchR...
GLD has spent the past five months developing a "cup" formation, with the lip at the highs. Often, this formation drifts sideways-to-lower for a short time, thus adding the "handle," before moving higher. In this case, however, there may be so much pressure that prices simply rise, bouncing off the high once or twice, and then adios.
No guarantees here, of course, but this sure looks like what's happening.
that paper fly swatter is getting kind of overused and has grown increasingly threadbare in the present context and is now merely a stick being shaken at the gold steamroller, Mr. Bronson. gold has managed to take a lot of hard swats so far and has just picked up, dusted off, and resumed its inevitable ascent. interest rates will remain at zero. the last evanescent "whiffs of concocted normalcy" disappeared with the massive trillion$ european debacle. the only thing I detect is the acrid odor of your "international monetary policy" empire burning to the ground. Turn off your TV and the old Charles Bronson reruns. Come out of your cave troglodyte and look around. Its a whole new world and there is no more "as it always does".
$1,218? is to the moon? fucking idiots!
Buy Gold Bitches!!!! donate to the idiot fund!
I think your just mad it isn't going to 800 just like every other idiot keeps saying it will, like you.
$1,217? I dont care where it goes... I dont buy high, to hope for higher... that makes you part of the bubble crowd.. $5,000 use 8th grade math... you hang in there... you and theother idiots fighting one of the oldest and most well entrenched suppression mech's in the world! You idiots can over take the powers of the world thru phyiscal delivery, you idiots are the lil engine that could.. carry on stupid!
http://www.youtube.com/watch?v=x3GlIpe2Acg
Tooot Tooot.
"Suppression mech" - I like that term.
I'll buy the dips - and, yes, I believe there will be more dips - until the mech explode under the pressure. And they will explode, mind you, it's just a question of time. They may have the upper hand right now, but the entire world economy is driving straight off a cliff.
When inflation slowly, inexorably, starts rising, and rising, and rising... Then, and only then, will I stop buying. And US$5,000/oz will be CHEAP compared to the final price of gold when this financial death march is finished.
Name-calling; methinks you doth protest too much.
Keep taking delivery.
Gold is a gift under $1500. Not for speculation, but for insurance and wealth preservation. You want to give FRNs to your children or grandchildren (oh yeah, inheritance tax too) rather than a quiet gold gift? Go right ahead.
Of course it is not a bad idea to keep some 3 months of FRNs in the Bank of Sealy or other secure place.
What do you guys think about buying GDX and GDXJ in addition to owning physical gold and silver? Aren't mining companies cheapter in general compare to gold and silver? Do you think the stocks of mining companies are decoupled from general equity market and are immune to any sell off in S&P?
Appreciate any comments.
Mining stocks have badly lagged the metal. They are just paper so don't expect them to act like metal. Plus you have to worry about 'windfall' taxes, nationalization of mines, etc.
Yes, own both, but, PHYSICAL first............at this point, I would think the old 5%-10% rule is shit............
Up to 30%...............IMHO, if your smart.
As Gordon_Gecko, Hulk and Chumbawamba, 3 of the more noteable experts on gold here at ZH would say (and of course I agree):
Just buy the physical gold.
That was easy.
Patience is now the name of the game. Mega Patience and the ability to hold your position
[and keep your powder dry.]
I already have, it's called the IMF.
Stop saying bitches, bitches!
There you go bitching, again and again!
Nadler's so panicky he's pushing rhodium.
http://video.foxbusiness.com/v/4186877/is-rhodium-the-true-precious-metal
Oh my God, you actually soiled your eyes and mind by stooping so low as to READ that asshat's daily PM-hating rant? Haven't you learned your lesson YET?
This guy does a GREAT job of demolishing the insane pro-bankster, anti-gold propaganda of Nadler:
http://www.tomaveni.com/Commentary/Nadler-01.htm
To Oso:
I love your avatar and find your posts interesting. I hope you can laugh at us this morning. Or see it as desensitization therapy. Folks really like to play, hard.
All youze traders is gamblerz and thugz. Bankaz is ganstaz. If da cultcha fit, get wid it.
LOL! That was good. If folks could only see exactly whom is using these words....
Chumba was and is a very bad influence on me. When I looked at my wife and said "gold bitchez" , she almost had a stroke!
But, but...I thought dollar was the safe haven, no?...ROFL!
GOLD, BITCHES!!!
why are gold shares declining on the monthly charts...?
HUI is trying to tell you something...
1. Michael Crook from Barclays Wealth (Transfer) Management says he knows gold is going to $800. That’s an interesting name he has, “Mr. Crook”. The Crook argues that after all the liquidity has been extracted from the system, the fair price for gold is $800.
2. That’s like saying that as 100 nuclear bombers fly towards their targeted cities, “after all the radiation is gone I expect the cities to do well, that’s my prediction”.
3. Sorry Mr. Crook, but here’s my message to you: quantitative easing is not ending, liquidity is not being extracted. QE is being ramped up, and exponentially. The Crook apparently is based in England, which in my view is the leading candidate to take centre stage next, in the great global govt paper money crisis. I hope he’s prepared, because if the pound takes the kind of beating against gold that I think it can, I would suggest that the Crook might want to consider leaving town, before a lynch mob of enraged clients, clutching nothing but burning toilet paper money, come looking for him. Bottom Line:
4. The Gold Punisher is on the warpath. Are You Prepared?
http://www.321gold.com/editorials/thomson_s/thomson_s_051110.html
5. I’ve spoken repeatedly about being equally prepared to handle yourself at gold $700 and $1400 pricing. We’re closer to the latter now. What if Mr. Crook and the rest of the wealth transfer agents turn out of be correct in their gold price “prediction”? The answer is that you want to be a buyer of gold at $1100, $1000, $900, $800, $700, $600, $500, $400, $300, $200, $100, and $1. Whether price actually goes to any of those prices, we can’t know. All we can do is hold the cash necessarily to be able to act if we are lucky enough to see lower prices.
Stewart Thompson !
added note
I believe Sinclair said it would go to $1278 then on to $1650
Follow the yellow brick road witches!
I don't believe him but $800/ounce is better than 2-cents. The real value of a fiat dollar.
Stocks of Gold coins and small bars getting patchy in England. No dealers are out of stock but most are out of small bars and the smaller coins. Apparently the wholesaler for the austrian mint is easily shifting 100,000 of the 1oz Philarharmonic silver coins a day. OK thats peanuts in money terms - but its the production capacity. People are not buying in the hope of selling for a profit. They are buying in the hope of NOT having to exchange them for food / cows / chickens etc. Anyway fiat in the bank earning no interest is loosing its appeal for the sheeple. Owning a little of the shiny stuff is much more satisfying
coininvestdirect, one of the better options for UK peeps, german company with london offices - hardly any gold in 1oz variety at the moment. only random year maples and eagles. demand must be very strong right now.
The Portuguese must be happy campers
www.imf.org/external/np/sta/ir/prt/eng/curprt.htm
At these prices their gold reserves are now higher then $15 billion and rising.
Please please please, world, just wait a few weeks to blow all to hell. Gold please come back down a little bit too. I just need a few weeks! Gonna pop my cherry and get some physical!
Mmmm and now I'm just talking dirty! Raging gold boner here I come!
Chump,
$1,200.00 Gld is cheap.............
If you cannot afford it, buy Slvr.........NOW.
I thought Au > Ag...?
I'm not overly concerned about the price coming back down some, it would just be a little nice icing.
I can remember well, long, long ago (well, actually not quite 3 years) when gold was at 600 and 1200 seemed like a pipe dream every time Sinclair would mention it. Now 1650 doesn't seem to far off...
Tyler/Cheeky/Robo or anybody. The massive amount of money shuffling that is occuring and providing liquidity will supposedly stabilize the markets for another year or so. What happens if Gold continues its ascent at an even faster rate? Will it continue to be an afterthought or will a very fast climb cause some turbulation in the governments and banks and then what is the likely scenario in the market?
We still have been unable to find out Who the Driver was in the Maquire Hit. This in and of itself is astounding. I have found some sites where this is an ongoing topic. Understand that this involved a police chase complete with helicopters, and several criminal offenses apparent..Yet, as far as the MSMedia is concerned, No Coverage. The Identy of the Driver has been "Swept Under The Rug", like so much more, but this is Major....yet ? Think about it. I'll paste a bit:
http://seminal.firedoglake.com/diary/40528
Andrew Maguire exposes systemic fraud by CFTC and JPMorgan April 3rd, 2010Andrew Maguire’s revelation of JP Morgan Chase gold and silver manipulation is being hidden by the mainstream media. Maguire struck by hit and run driver in London, suffers minor injuries.
Finally there is concrete proof, delivered in real time no less, of long suspected market fixing in the gold and silver markets. As this explosive story develops only the Huffington Post has run with it, the Wall Street Journal, CNBS, Fox Money, Bloomberg and all of the other US mainstream financial media are not covering what could be the largest financial fraud in history.
===============================
On March 26th while out shopping with his wife, Mr. Maguire's car was hit by a car careening out of a side road. The driver of the vehicle then tried to escape. When a pedestrian eyewitness attempted to block the driver's escape, he accelerated and would have hit him had the pedestrian not jumped out of the way. The car then hit two other cars in escaping. The driver was apprehended by the police after police helicopters were called in and following a high speed chase.
Andrew and his wife were hospitalized with minor injuries. They were discharged from hospital today and should make a full recovery.
========================================
When there is a hit and run incident in the United States, involving more than one victim, and the police are said to have apprehended the suspect, has there ever been a case in your experience where the media failed to identify the suspect’s identity in the press a full ten days after the event.
That it did occur is irrefutable:
JPMorgan ‘chase’ story in UK
http://www.youtube.com/watch?v=WNE0vtY6foI
Hmmm 007 failed to complete his mission
Perhaps standards have fallen..........
http://www.youtube.com/watch?v=oNx1CFkZlxo
gold bastards...
nah, doesn't have the same ring. i wouldn't buy the mug.
What, 90 comments here so far, and not ONE rabid anti-gold troll? Have they all given up? MasterBates, YipCarl, JohnnyBravo --- has the golden avalanche swept them all away?
Damn, what's the world coming to, if you can't even count on the pro-establishment trolls to swarm an exclusively gold-related story!
I went down to the 7-11 the other day and they wouldn't trade me a Krugerand for a pack of smokes. Gold is heavy and stupid.
Bitchex; an exchange for rude comments. Now largely
electronic, but formerly the walls of bathrooms.
Got a monitor opposite the terloit, so it kinda is on the bathroom walls!
$1224 Biatchies! Getting close...
$1230..Wow..this is getting more fun to watch by the second.
Record, Biatchies!
Oro, Putas!
1234. Said in other thread that it wouldn't make it past the PM fix. Now all we need is a week for everyone to figure out that broke bank A is bailing out broke bank B. Then a paper smash and then you start seeing 90 bucks a day worth of raise instead of the 60 bucks a day during 2008.
Also waiting for the big boys to take delivery. Trucks backing up could start an avalanche..
http://www.youtube.com/watch?v=-ohT1LfhC7M
hehe
People are getting very, very nervous in such an unstable financial environment. I expect that the gas stations will soon refuse to honor greenbacks and only take silver rounds, 90% silver, and 1/10 and 1/20 ounce gold. It will be the halcyon days once again for the Austrian school adherants!