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Gold Celebrates Complete Lack Of Inflation By Surging To New Record

Tyler Durden's picture





 

On one hand we have the BLS telling us core inflation declined to a ludicrous 0.1%, on the other hand Charles Plosser just had a soundbite, captured for posterity, that "high oil prices don't cause inflation", but luckily confirming there is someone not taking crazy pills, is the third hand, which takes gold to a new all time high of $1,481.46. We wonder, of the three hands, which one is right...

 


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Fri, 04/15/2011 - 10:21 | Link to Comment Thomas
Thomas's picture

Plosser wouldn't lie.

Fri, 04/15/2011 - 10:39 | Link to Comment e_goldstein
e_goldstein's picture

Plosser is actually right. It's not high oil prices that cause inflation; it's the filthy Central Banking system.

Fri, 04/15/2011 - 10:43 | Link to Comment Ray1968
Ray1968's picture

Right, inflation happens THEN commodity rises. The causality is reversed.

Fri, 04/15/2011 - 11:05 | Link to Comment depression
depression's picture

Agree 100%.

The justification for Fed policy is the 'deflating' housing market and persistently high unemployment. Falling house prices is no more deflationary than rising oil prices is inflationary. Every dollar increase in the price of Oil shaves off another 0.x% of GDP. The more $Trillion fiat they pump into the system the flatter GDP becomes in response, in this case excessive and uncontrolled expansion of the money supply is dampening the capacity of the real economy to respond. The Fed is pushing on a string.

Fri, 04/15/2011 - 15:01 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

dupe, sorry.

Fri, 04/15/2011 - 14:52 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

The Bearing is on a vacation cruise with his family.

A clerk here in Cozumel (Mexico) just gave me a 1964 (silver) silver US quarter, worth over $7.00 is silver...

Lucky me!

Sat, 04/16/2011 - 16:28 | Link to Comment mr_T
mr_T's picture

I was down that way last week in tulum. Watch out for the policia taxing you right before the airport. Luckly, I only had 60 usd on me. Corruption so visable and freely practiced, at least they do it to your face.

Fri, 04/15/2011 - 10:55 | Link to Comment Cash_is_Trash
Cash_is_Trash's picture

Plosser is Keynesian shit.

People today use the term `inflation' to refer to the phenomenon that is an inevitable consequence of inflation, that is the tendency of all prices and wage rates to rise. -- Von Mises

Plosser can't see the reason inflation occurs.

How about increasing the money supply when nobody wants to hold more fiat?

Change we can believe in -- you better believe this USSA Titanic is going under.

Fri, 04/15/2011 - 11:40 | Link to Comment Roger Knights
Roger Knights's picture

"Change we can believe in"

Silver coins!

Fri, 04/15/2011 - 12:29 | Link to Comment tiger7905
tiger7905's picture

Great quote from Rick Rule:

“dollar is the world’s reserve currency so it’s the fiat currency that everybody is reserving special wrath for”

His thoughts on silver tightness:

http://goldandsilverlinings.com/?p=660

Fri, 04/15/2011 - 11:43 | Link to Comment HoofHearted
HoofHearted's picture

Milton Friedman: "Inflation is always and everywhere a monetary phenomenon.

He was so good they gave him a Nobel Prize DESPITE the fact that he was known to tell the truth. (see Gore, Al; Krugman, Paul; Obama, Barack, etc.) 

Fri, 04/15/2011 - 16:20 | Link to Comment Payable on Death
Payable on Death's picture

I love uncle Milty. Still, I have not been able to reconcile his role in Nixon's closing of the gold window. Can you?

Fri, 04/15/2011 - 17:52 | Link to Comment SgtSchultz
SgtSchultz's picture

For those who haven't watched, there are some terrific Friedman clips on YouTube.  Here is one of a five part Donahue interview but check out all the others on the right side.  Some are extremely entertaining. 

http://www.youtube.com/watch?v=E1lWk4TCe4U&feature=related

If you only want to invest a couple of minutes, this is the classic Friedman v Donahue on "greed"

http://www.youtube.com/watch?v=RWsx1X8PV_A&feature=related

 

 

 

Fri, 04/15/2011 - 11:05 | Link to Comment jus_lite_reading
jus_lite_reading's picture

Yup.... the shits hitting the fan...

http://fiatsfire.blogspot.com/2011/04/fast-friday-greece-ireland-portuga...

How long can they keep this up? Radition getting placed on the back burner to the situation in europe!

Fri, 04/15/2011 - 13:01 | Link to Comment PulauHantu29
PulauHantu29's picture

great link. Hard to beleive Morgan Stanley is defaulting on its $3.3 Billion dollar property in Tokyo...ominous sign for Japan.

Fri, 04/15/2011 - 11:01 | Link to Comment CrashisOptimistic
CrashisOptimistic's picture

Psst.  Sorry to clutter your gold thread with what is important (as if y'all don't do that to oil threads), but WTI just hit 109.

Again.

Fri, 04/15/2011 - 12:05 | Link to Comment TaggartGalt
TaggartGalt's picture

Make that 110. 

Again.

Fri, 04/15/2011 - 13:14 | Link to Comment tmosley
tmosley's picture

And where is silver?

Oh that's right, kicking oil's ass.

This crisis isn't peak oil.  Get over it.  Come back in ten years.

Fri, 04/15/2011 - 13:59 | Link to Comment trav7777
trav7777's picture

bc it doesn't require any energy to mine anything

Fri, 04/15/2011 - 11:51 | Link to Comment Vendetta
Vendetta's picture

As does market manipulation, sky rocketing oil prices when the Baltic Dry Index is heading back to 2008 levels makes sense ... right?

 

http://www.bloomberg.com/apps/quote?ticker=BDIY:IND

Fri, 04/15/2011 - 11:16 | Link to Comment Mark McGoldrick
Mark McGoldrick's picture

If the M1 multiplier is well beneath 1, can someone explain if this is indicative of an inflationary or deflationary environment?

http://research.stlouisfed.org/fred2/graph/?g=cq

(Hint: the answer starts with a "D")

Judging from this graph, the greater concern should be deflation, and if this graph worsens much further, we are about to experience a big fucking crunch. 

Worries about inflation is the "sheeple trade" and everyone is attempting to capitalize on it. Like every sheeple trade, it will work for awhile, but then it won't - in a BIG way.  

Always remember, the worst kept secrets prove to be the worst trades.

Edit in:  why do you think banks are hoarding over a $1T in reserves?  Why do you think Pimco is suddenly hoarding cash?  If they thought the US dollar was going to become worthless, they'd get rid of it, not hoard it. 

Stop drinking the fucking Kool Aid. You're being duped. 

 

 

 

Fri, 04/15/2011 - 11:22 | Link to Comment Internet Tough Guy
Internet Tough Guy's picture

Yes, those banks are brilliant actors. Just look at their past performance. Why don't you hoard cash, just like them? Let us know how that works for you.

Fri, 04/15/2011 - 11:55 | Link to Comment Robot Traders Mom
Robot Traders Mom's picture

Dude, go to the Huff Po and go spread your bullshit over there. Nobody here agrees with you, respects you, or even likes you.

You are reading into a manipulated M1 number, so go ahead and follow that closely. See how it works out for you. Secondly, you are implying deflation. Because you are a troll that lives in the basement of his parents house, you probably don't realize that the cost of food, gas, and clothing is going up dramatically. That is real life, not some fucking bullshit government number designed so that social retards like you can go on and blog about how everyone with an IQ much higher than yours is incorrect.

So go ahead and buy into the deflationary myth.

Tool.

Fri, 04/15/2011 - 13:19 | Link to Comment camoes
camoes's picture

+100

Fri, 04/15/2011 - 18:02 | Link to Comment Hephasteus
Hephasteus's picture

LOL

Fri, 04/15/2011 - 13:16 | Link to Comment sun tzu
sun tzu's picture

Mark McDummy, your anger, use of profanity, and fed charts has certainly convinced me. I will immediately short all commodities because the USD is going to the mooooon!!!

Fri, 04/15/2011 - 14:04 | Link to Comment trav7777
trav7777's picture

shouldn't they be hoarding bonds?  Bc a coupon in a deflationary environment is like printing money

Fri, 04/15/2011 - 14:10 | Link to Comment Hephasteus
Hephasteus's picture

Have you heard the myth about deflation. Again.

It bears repeating.

There's this deflation force called zeus who lives on mount pimpalous. He was tasked with 12 great deeds.

It's real fucking simple here. Government overspending doesn't get paid in the future or by our babies. It get's paid within a year through inflation. 1.6 billion dollar budget deficit. That's the official number. You take the back door spending, the off balance sheet bullshit and inflation is a nightmare.

The rich pay all the taxes. LOL. That's another myth. The fed is not a fucking statisctics or facts organization. It's a myth maker. And it only spouts numbers you can't double check.

Fri, 04/15/2011 - 14:23 | Link to Comment Hugh G Rection
Hugh G Rection's picture

Gold- DOW parity, coming soon to an inflationary economy near you!

Fri, 04/15/2011 - 10:21 | Link to Comment Cash_is_Trash
Cash_is_Trash's picture

Fiat. Collapse.

Fri, 04/15/2011 - 10:45 | Link to Comment Popo
Popo's picture

Bernanke is f*cked.  He should be shaking in his boots.  But he still believes he can tap the brakes whenever he needs to.  Oh god I can't wait for him to try.  

Tap the brakes Ben.  Let's see what happens to equity markets when you try to do anything but print money, you ass.

Fri, 04/15/2011 - 10:51 | Link to Comment SheepDog-One
SheepDog-One's picture

This is the one thing that makes for sleepless sweaty nights for Bernanke....gold and silver the bane to any bankzta.

Fri, 04/15/2011 - 10:54 | Link to Comment BobPaulson
BobPaulson's picture

Not to mention the deficit.

Fri, 04/15/2011 - 10:55 | Link to Comment Cow
Cow's picture

Jim Rickards recently said that the Fed wouldn't need QE3, because they have 3 trillion on their balance sheet and the rolling over of that much debt will allow them to keep interest rates down.

Fri, 04/15/2011 - 10:19 | Link to Comment ZeroPower
ZeroPower's picture

Nice title. Interchangeable w/ SI

Fri, 04/15/2011 - 10:23 | Link to Comment mick_richfield
mick_richfield's picture

Huzzah!   I think I'll celebrate by filling my tank with gas!

 

Fri, 04/15/2011 - 10:27 | Link to Comment mayhem_korner
mayhem_korner's picture

That'll be 2 oz of silver, plz.

Fri, 04/15/2011 - 10:32 | Link to Comment unclebill
unclebill's picture

not even 1 oz of silver

Fri, 04/15/2011 - 10:56 | Link to Comment Long-John-Silver
Long-John-Silver's picture

It depends on what your filling up. It would require 1/2 oz gold eagle to fill up a tractor trailer rig.

Fri, 04/15/2011 - 10:31 | Link to Comment Dr. Richard Head
Dr. Richard Head's picture

I'll keep my silver for now thanks.  Do you still accept 2-ply Federal Reserve Notes?  If so, I will trade you some of this paper for your goods. 

I love counting out Federal Reserve Notes when paying for something of value.  I always ask, regardless of where I am paying for something, "Do you still take Federal Reserve Notes?"  Sometimes I get the blank stare, other times I end up in some interesting conversations with other patrons around me. 

As long as suckers continue to take these notes, I will trade them for something good.

Fri, 04/15/2011 - 10:45 | Link to Comment Diplodicus Rex
Diplodicus Rex's picture

Sometimes in the comments section you get an absolute gem and this is one of those occasions. I had a hearty chuckle to myself over the line "Do you still take Federal Reserve Notes?".

I doff my cap to you sir !

Fri, 04/15/2011 - 10:45 | Link to Comment sagerxx
sagerxx's picture

Second that.  Thanks for the laugh!

 

Fri, 04/15/2011 - 12:32 | Link to Comment Strider52
Strider52's picture

I was ROTFL when someone wrote "Too Corrupt to Prosecute" a few days ago.

Fri, 04/15/2011 - 14:09 | Link to Comment Temporalist
Temporalist's picture

I like Nouriel Roubini's reply in "Inside Job" when asked why there hasn't been a more systematic investigation undertaken he said:

"Because then you'll find the culprits."

Fri, 04/15/2011 - 10:55 | Link to Comment Dr. Richard Head
Dr. Richard Head's picture

Thank you.  I used to get so angry about the situation that is imposed with us because of fiat currency.  Now I try shock therapy to those I encounter and humor. 

All I know is that there are wayyyyyyy toooooooo many bernanking zombies out there in this Amerika.  Bernanking zombies son of a bernankes, but I once stood where they stand now.  Still, hard to have too much sympathy for them anymore.  Their candid complacency is part of the problem too.

Fri, 04/15/2011 - 10:52 | Link to Comment SheepDog-One
SheepDog-One's picture

LOL great idea, Im saying that now in every store I go to. 

Fri, 04/15/2011 - 11:01 | Link to Comment Dr. Richard Head
Dr. Richard Head's picture

Had a lady behind the cash register of food joint look and me and say in response to my FRN question, "Yes we do.  By the way, I just sold a bunch of old silver for $700 the other day, so if you have any of that you can get a good price for it."

I responded, "That's a shame, you are about to miss a huge increase in silver.  Pay attention to the price over the next month or three and you will be kicking yourself.  Chances are you will be a cashier for many more moons.  Take care."

Fri, 04/15/2011 - 14:16 | Link to Comment dark pools of soros
dark pools of soros's picture

ok, now you are just making shit up...  and you will be a commenter for many more moons instead of a best selling writer

Fri, 04/15/2011 - 14:14 | Link to Comment dark pools of soros
dark pools of soros's picture

but how do you still have them if you laugh at people who accept them??  you must be taking them too... 

Fri, 04/15/2011 - 10:31 | Link to Comment sheeple
sheeple's picture

dow's going to trade 1 to 1 with silver soon, SLA in all fronts

Fri, 04/15/2011 - 10:44 | Link to Comment cowdiddly
cowdiddly's picture

Yep I just got back from the Grocery Store, Suckers highjacked me for 5 eagles for a 2 weeks worth of groceries.

Fri, 04/15/2011 - 10:32 | Link to Comment Ethics Gradient
Ethics Gradient's picture

M1 Abrams?

Is it that time already?

Fri, 04/15/2011 - 12:36 | Link to Comment mick_richfield
mick_richfield's picture

Bolo Mark III

Fri, 04/15/2011 - 10:21 | Link to Comment Bubbles the cat (not verified)
Fri, 04/15/2011 - 10:29 | Link to Comment DeadFred
DeadFred's picture

There's been an unexpected warming trend as March has gone to April.  Who could have predicted it?

Fri, 04/15/2011 - 10:37 | Link to Comment Cash_is_Trash
Cash_is_Trash's picture

Not in the Southern Hemisphere.

Those motherfuckers will spin it every which way.

Fri, 04/15/2011 - 22:13 | Link to Comment savagegoose
savagegoose's picture

i think its la nina , causing  cyclones in australia, lots of rain wet weather here. and  should be droughts on west coast of america

Fri, 04/15/2011 - 10:24 | Link to Comment rookie
rookie's picture

does anyone know what happened to Joe Battapaglia?

Fri, 04/15/2011 - 10:49 | Link to Comment Crisismode
Crisismode's picture

Passed away yesterday from a sudden heart attack.

Fri, 04/15/2011 - 10:57 | Link to Comment Long-John-Silver
Long-John-Silver's picture

All time new high Gold announcements took a toll on him.

Fri, 04/15/2011 - 10:22 | Link to Comment Jim B
Jim B's picture

Inflation data fraud + Monetization + Historic budget deal cutting less than 1% = buy gold!

Fri, 04/15/2011 - 10:36 | Link to Comment topcallingtroll
topcallingtroll's picture

It will probably run so long and so high, eventually, that everyone will be in awe.

nevertheless i sell my last eagle box if.or when it hits 50.

Riding gdxj for now with a new basis of 40 and low change.

Fri, 04/15/2011 - 10:41 | Link to Comment topcallingtroll
topcallingtroll's picture

Of course i still think gold bugs are cocksuckers.

But maybe its me. I dunno. Lets compare returns in a year.

Fri, 04/15/2011 - 12:27 | Link to Comment DosZap
DosZap's picture

Start exercising your jaw muscles Fudgepacker.

Fri, 04/15/2011 - 11:02 | Link to Comment Long-John-Silver
Long-John-Silver's picture

Will you return and comment you sold too early like Warren Buffett did, especially when it's over $100 an ounce?

Fri, 04/15/2011 - 11:01 | Link to Comment DeadFred
DeadFred's picture

Many years ago in college I commented to my major professor (who had escaped from behind the iron curtain) about how rediculous the Soviet propaganda sounded, things like US soldiers eating Vietnamese babies. He said part of the my lack of understanding came from not hearing the propaganda in the original language.  Good propaganda is crafted to fit into a cultural and linguistic background that makes the lies feel credible.  Propaganda doesn't translate well.  Hearing a translated version of the propaganda made the inconsistency of the Soviet lies stand out.

The Fed, Treasury and MSM are pumping us full of their lies and most Americans will fall for it because the propaganda is designed to feel right.  On the other hand the Germans, Chinese and others will be scratching their heads and wondering how stupid are we to fall for this blather.  Do we really think there is no inflation, that 38 billion or less is a good start on balancing the budget, that we aren't monetizing debt, that we are really fighting for human rights in Libya?  They are going to see the dog and pony show for what it is and are rightfully going to head for the exits on the dollar.  My guess is the dollar index at 69 and gold at $1575 soon.

Fri, 04/15/2011 - 10:23 | Link to Comment UninterestedObserver
UninterestedObserver's picture

I am Jack's complete lack of surprise.

Fri, 04/15/2011 - 10:25 | Link to Comment alexwest
alexwest's picture

##"high oil prices don't cause inflation",

so 70x were jsut a fluke... how nice..

I wonder how old that mr. flosser is ?

alx

Fri, 04/15/2011 - 10:25 | Link to Comment gwar5
gwar5's picture

Can't eat gold, but you can sleep on it.

Fri, 04/15/2011 - 10:39 | Link to Comment ihedgemyhedges
ihedgemyhedges's picture

"Can't eat gold....."

Sure you can!  Scroll to the bottom.

http://www.serendipity3.com/food.htm

Fri, 04/15/2011 - 10:41 | Link to Comment Cash_is_Trash
Cash_is_Trash's picture

A thousand sheets of toilet paper?

Damn, I'd rather load-up on some scrumptious metal.

Fri, 04/15/2011 - 10:44 | Link to Comment gwar5
gwar5's picture

You can eat it but it has no nutritional value. Instead, I read Zerohedge and shit little gold nuggets.

Fri, 04/15/2011 - 11:05 | Link to Comment Long-John-Silver
Long-John-Silver's picture

You can eat it but it has no nutritional value.

Like Monsanto genetically modified corn

Fri, 04/15/2011 - 11:58 | Link to Comment Don Smith
Don Smith's picture

+AGATCAGATCAA!!

Fri, 04/15/2011 - 12:43 | Link to Comment mick_richfield
mick_richfield's picture

I never understood this.

Most people have DNA made of adenine, thymine, guanine, and cytocine --- but mine turns out to be made of caffeine, nicotine, demerol, and alcohol.

 

Fri, 04/15/2011 - 17:05 | Link to Comment Cistercian
Cistercian's picture

 Now everyone will know you are really Keith Richards.

Fri, 04/15/2011 - 11:55 | Link to Comment Vendetta
Vendetta's picture

Spam is a better investment than gold  -Nouriel Roubini

Fri, 04/15/2011 - 12:33 | Link to Comment DosZap
DosZap's picture

Have both, and your double covered.

Fri, 04/15/2011 - 14:24 | Link to Comment Temporalist
Temporalist's picture

Great I hope your kids and grandkids are happy when they read your last will and they find they are left with 150 cans of 40 year old pig flesh.

Fri, 04/15/2011 - 10:25 | Link to Comment boricuadigm-shift
boricuadigm-shift's picture

Only in Wonderland...

Fri, 04/15/2011 - 10:25 | Link to Comment Turd Ferguson
Turd Ferguson's picture

Watch silver very closely. Fridays have been very good to us lately.

Fri, 04/15/2011 - 10:31 | Link to Comment Stormdancer
Stormdancer's picture

I just swapped about about 1/4th of my stack for gold yesterday.  And I still hope you're right :)

Fri, 04/15/2011 - 10:41 | Link to Comment mayhem_korner
mayhem_korner's picture

Do I hear 43?  Anybody?  44?

Fri, 04/15/2011 - 14:59 | Link to Comment Bay of Pigs
Bay of Pigs's picture

Tears of the Moon Bitchez...

And where have the topcallers/PM bears gone?

 

Fri, 04/15/2011 - 11:54 | Link to Comment Vendetta
Vendetta's picture

the cartel shifted their take down algorithms to Mondays instead of Fridays.

Fri, 04/15/2011 - 10:24 | Link to Comment Sweet Chicken
Sweet Chicken's picture

"Do you expect me to talk?"

"No Mr. Bond...I expect you to die."

Fri, 04/15/2011 - 10:41 | Link to Comment oddjob
oddjob's picture

names are for tombstones,baby.

Fri, 04/15/2011 - 10:28 | Link to Comment AUD
AUD's picture

The Fed could meet its gold obligations with MBS of more than 10 years duration.....snort, snigger.

Fri, 04/15/2011 - 10:27 | Link to Comment umop episdn
umop episdn's picture

Beg pardon, but does anyone else smell burning fiat?

Fri, 04/15/2011 - 10:35 | Link to Comment mayhem_korner
mayhem_korner's picture

That's me..it's nippy & I didn't feel like running to the wood pile to stoke the coals, so I tossed in a wad of FRNs.  New ink gives it a nice bluish flame.

Fri, 04/15/2011 - 10:45 | Link to Comment Cash_is_Trash
Cash_is_Trash's picture

I couldn't find proper paper for the fireplace, so I burned the contents of my wallet.

"You are not your fucking khakis"

Fri, 04/15/2011 - 12:48 | Link to Comment Mises
Mises's picture

Now THAT'S Deflation!

Fri, 04/15/2011 - 12:24 | Link to Comment mt paul
mt paul's picture

i love the smell 

of burning fiat 

in the morning ..

Fri, 04/15/2011 - 10:25 | Link to Comment AvoidingTaxation
AvoidingTaxation's picture

I want a fucking deep! BTFD!!

Fri, 04/15/2011 - 10:26 | Link to Comment SheepDog-One
SheepDog-One's picture

You cant eat gold, but RoboTrader can suck it!

Fri, 04/15/2011 - 10:32 | Link to Comment topcallingtroll
topcallingtroll's picture

He is a fake.

He never gives his buy and sell prices in real time.

But he is deftly in and out of the hot sectors at just the right time?

Hmm......

Fri, 04/15/2011 - 10:35 | Link to Comment Ethics Gradient
Ethics Gradient's picture

How do you two get past the Capchas?

Fri, 04/15/2011 - 10:39 | Link to Comment Careless Whisper
Careless Whisper's picture

i give real time. AAPL below 330 and i'm shorting it. look to cover around 318. stop loss 336. 2:1 risk reward. let's see what happens.

Fri, 04/15/2011 - 10:45 | Link to Comment topcallingtroll
topcallingtroll's picture

I am in love!

Fri, 04/15/2011 - 10:44 | Link to Comment Ethics Gradient
Ethics Gradient's picture

Nice. Proper trading. Money where you mouth is type stuff.

But then shouldn't you be chucking all you assets at PMs and then going to mow the lawn?

Fri, 04/15/2011 - 10:44 | Link to Comment topcallingtroll
topcallingtroll's picture

If you hit the button three times it will go through with a blank capcha. Check it out.

Fri, 04/15/2011 - 10:45 | Link to Comment Ethics Gradient
Ethics Gradient's picture

You deserve some respect for that!

Fri, 04/15/2011 - 10:44 | Link to Comment SheepDog-One
SheepDog-One's picture

I dont think hes even THAT sophisticated...he just hunts around for anything thats up, posts it here, and insinuates he bought it earlier. But his stupid troll posts DO look like a machine is just writting the crap, stringing together pre formed words like that internet AI website does.

Fri, 04/15/2011 - 10:42 | Link to Comment oddjob
oddjob's picture

TCT,you are a Dickhead....your call to sell silver in the high 20's looks pretty fucking stupid now.

Fri, 04/15/2011 - 10:56 | Link to Comment Crisismode
Crisismode's picture

He's not so stupid . . . he figured out a way to trick Captcha.

That's gotta be worth something.

Fri, 04/15/2011 - 10:34 | Link to Comment sheeple
sheeple's picture

can't eat the dow too, but everyone' pimpin it

Fri, 04/15/2011 - 10:46 | Link to Comment Temporalist
Temporalist's picture

Can't eat a foreclosure notice either nor bankrputcy filing.

Fri, 04/15/2011 - 10:47 | Link to Comment SheepDog-One
SheepDog-One's picture

I agree if who you mean by 'everyone' is Geithner and Bernank'.

Fri, 04/15/2011 - 10:30 | Link to Comment topcallingtroll
topcallingtroll's picture

buying BIDU at 145 ish a few days ago is the stupidest thing i have ever done.

that means it will probably work out fine.

so i doubled down on stupid by giving it one third of my spec money.

what did you buy lately robo?

Fri, 04/15/2011 - 10:30 | Link to Comment AUD
AUD's picture

How's that deflation trade working out for you?

Fri, 04/15/2011 - 10:42 | Link to Comment Ethics Gradient
Ethics Gradient's picture

I think his sysop upgraded his GPU - hence the new and improved avatar.

I'm not sure you need HD on a malfunctioning algo server, but I imagine he was upset that he couldn't display moving pictures of pretty ladies in high definition. He's there to server complete bankers after all...

Fri, 04/15/2011 - 10:57 | Link to Comment Zero Govt
Zero Govt's picture

Elliott Wave International has been predicting Gold would collapse every month since May 2010... how can it be Gold has risen every month and Rob Prechters 'Financial Forcasting Experts' have got it wrong every week of every month with such consistency to be completely wrong?!!

Maybe Prechters next spot on CNBC he could inform viewers why he and his team are so fuking crap at predicting because he's not telling his paying subscribers why he gets it wrong week after week, month after month (the arrogance of the man!)... do tell how you got the whole of 2010 wrong on every index (Dow, S&P, Nasdaq, Gold, Silver and US Dollar to name but a few) with all your cock-up technical indicators and fuk-up calamity clown Elliott Waves

How many charts did you throw in the dustbin (where they belong) in 2010 Prechter? All of them every month is the right answer. Did you refund subscribers for their monthly fees for your total incompetence, sorry 'Expert Financial Forcasting' service? 

Fri, 04/15/2011 - 10:58 | Link to Comment Crisismode
Crisismode's picture

Well, you know what P.T. Barnum said . . . .

Fri, 04/15/2011 - 11:07 | Link to Comment Zero Govt
Zero Govt's picture

"There's a Sucker Born Every Minute"

Fri, 04/15/2011 - 12:39 | Link to Comment Peterpaul
Peterpaul's picture

"Two every minute in the postwar period."

Fri, 04/15/2011 - 10:30 | Link to Comment RockyRacoon
RockyRacoon's picture

I'm waiting for the time when higher gold will not be met with jubilation, but with trepidation for what an extremely high gold price means for each of us.

Fri, 04/15/2011 - 10:42 | Link to Comment Dr. Richard Head
Dr. Richard Head's picture

Extremely high gold price will mean soveriegnty for those who have prepared and empoverishment for those who refused to hede the warnings.  Paper bugs beware, Darwin has a an appointment with you.

Fri, 04/15/2011 - 10:48 | Link to Comment Grifter
Grifter's picture

Very well stated, Mr. Racoon...I sorta crossed that point, but on the silver side, around Christmastime.  I know BTFDFFS is the unofficial ZH slogan of late, but I've been terrified to accumulate more physical at these prices. 

Of course, I felt the same way at $17.67/oz, and $26.20/oz (I only started committing to PM's in May of last year.)

Fri, 04/15/2011 - 11:14 | Link to Comment Smiddywesson
Smiddywesson's picture

Three Quotes:

"(Prices) are never to high to buy, or too low to sell"  - Jesse Livermore

"I sold the wheat, which showed me a profit, and bought more cotton, which showed me a loss."  -  Jesse Livermore

"The Republicans are going to bankrupt us unless you let me spend more."  -Timmothy Geithner

I don't know which way gold prices will go, but in light of so many actions which WILL bankrupt us, I have my opinions.  However, the quotes from Livermore show what a trader does under such circumstances.  He keeps the gold until it shows you losses.  Real traders are never afraid to give back profits.  That's the price of making large profits.

Fri, 04/15/2011 - 10:34 | Link to Comment truont
truont's picture

Damn speculators!  Irrationally ignoring Labor Bureau's core-CPI official figures!

Why would they doubt?  :)

Fri, 04/15/2011 - 10:35 | Link to Comment sheeple
sheeple's picture

fuk bls, y the fuk would a "labor" bureau estimate CPI figures

Fri, 04/15/2011 - 11:00 | Link to Comment Crisismode
Crisismode's picture

It's a labor of love.

Fri, 04/15/2011 - 10:34 | Link to Comment Zero Debt
Zero Debt's picture

End the monopoly on the medium of barter now!

 

Fri, 04/15/2011 - 10:35 | Link to Comment SWCroaker
SWCroaker's picture

I'm stealing that...

Fri, 04/15/2011 - 10:38 | Link to Comment Bitchin Bear
Bitchin Bear's picture

Going to see Atlas Shrugged tonight.  In going over some of my favorite parts I came across these lines..."Whenever desroyers appear among men, they start by destroying money, for money is men's protection and the base of a moral existence.  Destroyers seize gold and leave to its owners a counterfeit pile of paper.....Paper is a mortgage on wealth that does not exist, backed by a gun aimed at those who are expected to produce it.  Paper is a check drawn by legal looters upon an account which is not theirs; upon the virtur of the victims.  Watch for the day when it bounces marked:'Account Overdrawn.' "

Pretty much sums it up, no?  Can't wait for the movie but nothing could ever do the book justice.  It should be required reading.

Fri, 04/15/2011 - 10:47 | Link to Comment Temporalist
Temporalist's picture

The movie will be in 3 parts.  You are just going to see part I fyi.

Fri, 04/15/2011 - 11:01 | Link to Comment IEVI
IEVI's picture

When I read Atlas shrugged I loved it. Now I realize the sociopaths in charge have taken Ayn Rand's ethical egoism to a sickening extreme. I blame the baby boom generation. The "Me generation" has fucked up the world to an unbelievable extent. They have raped an pillaged the world to satisfy their own hedonistic desires and then justified it by convincing themselves that their greed is justified self interest. On top of that the boomers fucked up their kids(the fufutre) by catering to their every whim, trying to be their friends instead of parenting them, and convincing them that they are special and entitled. The fuckers on wall street want to believe they are like Reardon in Atlas Shrugged..the producers..and the masses are they weaklings looking for a handout. They want to believe the world would not run without them pulling the strings and cashing the checks. They believe the politicians are corrupt soles who must be bought to keep them in line and stop them from ruining the world that they have created. The problem is they are deluding themselves. The producers are the small business owners, the doctors, the plumbers, the construction workers, the engineers. The fuckers on wall street and in government produce nothing but pain and misery for the rest of the world.

What kind of people send kids to die in wars just to fatten the checkbooks of the companies that they profit from? What kind of people drive commodity prices up just to make a buck, without any regard for the people that are actually dying from their profit driven actions.

The worst part is that they have now infected masses. The fraud in business starts at the top but permeates all the way down to the bottom of our corporate world. I can understand why the common man would not hold himself up to a higher ethical standard when he sees every political and corporate leader acting unethically. In reality all the peasants will get for acting morally is nothing..stepped on, taken advantage of or destroyed (think of the suckers who saved their fiats, didnt buy a house they couldnt afford and didn't go into debt, or how about the whistleblowers that get fired, or demoted, or silenced).

The world is fucked up. We need a reset....not just a reset of the financial system.. a reset of the people. I don't know how it can happen. Maybe mother nature will do us a favor and wipe us all off the face of this planet. Of course the only ones that will probably survive are the cockroach banksters and politicians hiding in the bunkers that the real producers paid for.

Fri, 04/15/2011 - 11:12 | Link to Comment Bitchin Bear
Bitchin Bear's picture

I can only assume from your comments that you are not a member of the "Baby Boomers".  I have to admit I am sick to death of this generation being blamed for the ills today.  Had it not been for this generation you wouldn't have the things and technology that you have today.  You are quite naieve to think Boomers deserve the blame for today's ills - I agree with almost all of your points; however this is not a generational thing - this is the nature of man!  It has always been and will always be. It don't make it right but there it is.

Fri, 04/15/2011 - 13:13 | Link to Comment IEVI
IEVI's picture

You may be right about it being the nature of man. I question that myself all the time. However, you have to admit that the baby boomers have taken self interest to a whole new level..at least the boomers on wall street and on capital hilll have.

 

And actually I am a boomer..right on the edge.. 1964.

 

Fri, 04/15/2011 - 12:01 | Link to Comment Vendetta
Vendetta's picture

Your brainwashing is complete -congratulations.  Your reward will be a shit sandwich courtesy of the banking cartel

Fri, 04/15/2011 - 13:12 | Link to Comment IEVI
IEVI's picture

Brainwashed?... hardly.

Fri, 04/15/2011 - 12:02 | Link to Comment Vendetta
Vendetta's picture

Your brainwashing is complete -congratulations. 

Fri, 04/15/2011 - 14:03 | Link to Comment DosZap
DosZap's picture

IEVI,

Remember this, and you have the answer.

"There is nothing new under the Sun"

Nothing.

Fri, 04/15/2011 - 14:29 | Link to Comment Temporalist
Temporalist's picture

Except the record nominal price of Gold in FRNs.

Fri, 04/15/2011 - 10:37 | Link to Comment Chuck Yeager
Chuck Yeager's picture

Saws this last night...

 

!*danger*!  this film might make you think.

 

http://www.theeconomicsofhappiness.org/

 

Fri, 04/15/2011 - 10:45 | Link to Comment FranSix
FranSix's picture

There is still a theory 'out there' that the commercials are overwhelmingly short gold. The psychological limit where ppl begin to accept gold is in a bull market was supposed to have been reached was $1300/oz.

Fri, 04/15/2011 - 10:47 | Link to Comment SheepDog-One
SheepDog-One's picture

Bankaz HATE gold and silver, like garlic to vampires. Theyll never accept it.

Fri, 04/15/2011 - 10:53 | Link to Comment FranSix
FranSix's picture

Bankers may hate gold but they're hoarding it in ETFs. In lacking available gold to bolster their reserves, they may resort to buying gold mining shares.

Fri, 04/15/2011 - 11:02 | Link to Comment SheepDog-One
SheepDog-One's picture

Unless theyre holding PHYSICAL PM in a vault, theyre not holding jack shit.

Fri, 04/15/2011 - 10:46 | Link to Comment SheepDog-One
SheepDog-One's picture

Poor bastards who got sucked into the big BS '$1 MILLION dollars' put bet on $25 silver.

Fri, 04/15/2011 - 10:48 | Link to Comment topcallingtroll
topcallingtroll's picture

Some of you have wondered how i make it past the capcha.

Here is the secret.

Hit the save button three times in row and you dont have to bother answering.

Fri, 04/15/2011 - 10:48 | Link to Comment proLiberty
proLiberty's picture

To that point, on "inflation", Ludwid von Mises said, "The notions of inflation and deflation ... were not created by economists, but by the mundane speech of the public and of politicians."  And so it is true in spades today when all manner of people are willingly clueless about the cause.

 

von Mises defined "inflation" as the moment the central bank creates new money with which it dilutes the value of the existing money in use.   Inflation then is manifested in the broader economy by rising prices for goods and services, but more in some sectors before it shows up in others.  Some players in the economy, such as gasoline stations, and sellers of commodities can respond by raising their prices sooner.  Other players, such as the owner of commercial real estate under long term lease, or union members with multi-year contracts, cannot respond changes in prices nearly as quickly,

In the 1990's, Greenspan's money-printing flowed into Dot.Com stocks.  After that boom went bust, those who had access to the next wave of fiat money decided they were not going to make that mistake again, they were going to put their money in a safe place: real estate.   With the Bernanke ZIRP, we are starting to wise up  a little and are resolved to not confuse wealth with money, which is why the prices of real things like gold and oil is getting bid up. 

So in reality, the well-educated Charles Plosser is has an upside down view of reality.  Money printing causes high prices.  High prices does not cause money printing.  He does not explain it that way.  But the price of each commodity is expressed in its ratio with all other commodities.  Money is just a commodity, and when the supply goes up even though the level of wealth has not changed, the value of each unit must necessarily fall.  That is exactly what is going on.  If the brilliant fools at the Federal Reserve Corporation and the other central banks of the world refuse to understand this, then my only rational way to respond is to ride the wave they create when they co-inflate.

And for this reason, I am long gold and DBC, and short fiat money and fiat debt.

 

 

Fri, 04/15/2011 - 10:49 | Link to Comment proLiberty
proLiberty's picture

see:

The Definition of Inflation According to Mises: Implications for the Debate on Free Banking
Nicolás Cachanosky

http://libertarianpapers.org/articles/2009/lp-1-43.pdf

 

Fri, 04/15/2011 - 10:50 | Link to Comment Dr. Impossible
Dr. Impossible's picture

...should i sell some yet

short story, when the announcement came, "bush jr. appointed to pres.(first term) i knew the US was going to war, (figured NK,was wrong but, cuz kim threatened his daddy)anyhow, knew also US didn't have cash for a war, and gold was trading (100yr chart) very low, garage sales had scrap 18k jewelry for pennies...i bought in BULK, now sitting on ALOT(est500oz+flakeafterrefinement) of scrap G, yet happily cash BROKE right now..have been for 3+yrs now...should i sell some yet? I'm thinking this whole crisis has to be getting close to its inflection point, (2-4 more yrs left). Adding I'm 37yrs young, able and consistently work 70hrs weekly, by choice... i just don't keep the cash... so the question is, should i start bringing out the dry powder yet, and take g profits, to acquire some of these struggling local businesses yet? contemplating taking loans even(haven't since 97) or wait another 6mos-1yr to re-visit this decision?

..if cash is king....am i screwed??   hahahhahahahha

Fri, 04/15/2011 - 10:52 | Link to Comment Temporalist
Temporalist's picture

I'd wait until RE is at its breaking point as the signal...when people are not throwing cash at foreclosures and shortsales.

Fri, 04/15/2011 - 11:12 | Link to Comment Dr. Impossible
Dr. Impossible's picture

on that, my assesment has been "scroched earth policy" nothing less. and adding CRE's to the RE basket. was also thinking, there's alotta small P.stones in that drum, maybe sift out those, for a leveraged cash(x10, or maybe x100 if i can find it) short silver, for short term trading. or am i just recieving to much "propaganda" from the other traders around me...their claim is"look, the DOW has made the biggest short term move ever"(being a gold holder i laugh at this point), claiming im just sitting on my hands....then i reffer to them...the gold price since 97 when i began aquiring gold..and trading ALWAYS has unforeseen risks.

disclaimer...i guess i could be called "short debt"

Fri, 04/15/2011 - 10:52 | Link to Comment percolator
percolator's picture

Plosser is right that "high oil prices don't cause inflation", it's excessive money printing that causes high oil prices.

Fri, 04/15/2011 - 11:00 | Link to Comment SheepDog-One
SheepDog-One's picture

Right, high prices dont cause inflation, gangsta banstaz do.

Now they cant even pass along higher prices, since the peasantry has no money. Even those on wealth stamps and 99 weeks of unemployment are on FIXED income! FED rock, meet hard place.

Fri, 04/15/2011 - 10:54 | Link to Comment Internet Tough Guy
Internet Tough Guy's picture

Eric King and General Jim having lunch at a five star restaurant where Robotrader valet parks their cars.

Do NOT follow this link or you will be banned from the site!