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Good news: at least it is not in backwardation. We wonder how long before Bernanke uses that excuse in a public tribunal.
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bennie boy, time to type the resignation.
Sorry for hijacking this, but I though there might some interest in this:
Peter Schiff & Ron Paul are todays guests on Alex Jones.
...and Bernard von Nothaus.
Quite a line up.
Some lineup. Why didn't they invite Lyndon LaRouche?
Actually, one of his colleagues was on the show a few days ago. They're trying to get LaRouche on in the next week or so.
Sprott or QE3 being priced in?
Schiff and Paul's stock just went way down. (Junk away but AJ is a loudmouth, immature, status-seeking, fearmongering, juvenile horse's ass. It's a real shame so many people follow that fuckbag.)
The original Ron Paul, Merrill Jenkins, in 1971 wrote the book - Money: The Greatest Hoax on Earth.
Merrill was a man well before his time.
http://www.youtube.com/watch?v=pLwh9eMvcuc
Tribunal or trial?
Tribunal? Resignation?
He won't be so lucky. It'll be an open faced execution. The mob may never understand his policies but they'll certainly understand how to quarter a man with an axe.
"An axe! That takes me back..." -- Grand-Mama Addams, "Addams-Family Values"
@ Tyler---Fucking hillarious!!!
Not only does ZH have the best information, the humor is dry and it reads like Deadspin for the financial world.
Well done.
Ha ha. Like there will even be gold available for delivery (at any price in $US) in 2016.
Conductor Ben: All aboard the QE-bound express train.. We're pulling out all the stops.. Destination: Serfdom
8
Gold's a bubble. Sell the spikes (STS)! (I would buy, however, if I wasn't up to my ass in the stuff already. The problem that I can't seem to resolve is that I still can't eat the stuff.)
New and Improved Fiat Diet.
Try consuming the proportionate amount of pennies, nickles, dimes and quarters. And if that don't work......
Oh, never mind. :)
The nickels and pennies are worth keeping. Melt > Face. Plenty of pre-1982 pennies still in circulation. I don't bother to sort them out. I'm betting there will be plenty of machines to do that in the future.
http://www.coinflation.com/
If you'll give me your gold, I'll see that you get fed regularly........
double post ...sorry
Is Yogi still short silver from $8???
And when the dumbass "you can't eat gold" crowd finally figures this out, then you will see the mother of all backwardations.
Exactly! Thats why you buy now! we all know the financial world is doomed. watch the moie Dr. Zhivago.
Its brilliant. Its like selling 100 year bonds. Get the cash. Let the bond holder come knocking on your door in a 100 years to collect. no one home. Same for gold in 2016.
It's coming down at a faster rate than ever before.
Volckeresque interest rates won't stop this freight train going QE^3 mph.
QE3, if there is one which I dont believe, will be a total faceplant!
In Jim Rickards piece on KWN, he says the stock is the flow.
Meaning the fed balance sheet is large enough to perpetuate a stealth QE, or as most of would like to call it: backdoor QE.
Bullfukinshit.
He misses a very bonehead thing. When those bonds are redeemed and the Fed is payed, well guess what those payments have to come from you guessed it fresh issuance. so in effect to keep things stable the Fed must roll their purchases. This keeps them level, problem is the 1.5 Trillion deficit. All the Fed can do is roll the garbage on it's sheet, unless there is true financial wizardry I'm not sure how the Treasury pays the Fed X dollars and the Fed turns around and gives the Treasury X+ Y dollars without printing more. Rickards is only right if they balance the budget, which has about as much chance as Stephen Hawking scoring 200 points as at the NBA All Stars game.
no need for financial wisardry when it's all opaque and sitting in some "special vehicle"
one-sided entries anyone?
Shameful, ever since the KWN Rickards interview I have had the same craw stuck in my head but I have ignored it because no-one else has addressed it (at least that I had read), I just thought I was ignorant in some manner. But now, YES, how the hell could the Fed just roll over existing Ts to continue QE? The math does not seem to work. Thanks
If the FED maintained a level balance sheet, there would be no credit expansion since the treasury would only be newly issuing what is matured. This will crash the system. Well, its going to crash anyway so there will need to be some games played to make sure the selected scapegoat gets blamed.
So Rickards specifically mentioned mortgage payments on the Fed's books. Some of those mortagees are still making payments. Those payments include some interest and some principal. In regards to the stealth QE, I think he was more focusing on the interest payments, not the principal payments. If both interest and principle are "reinvested", then the balance sheet expands.
Likewise, bond payments include some interest. If you're talking treasury, then yes, the US Treasury has to borrow more money from somewhere to make those interest payments. But the money then goes to the Fed, who can choose to either reinvest it or disappear it.
do you have to wear a suit to watch a tribunal? or can I wear my surf shorts and sandals (aka my trading uniform)?
Shit man! When in Rome do as the Romans do.
We can go naked and play with ourselves in public.
Beat me to it. I was going to say naked, covered in orange juice and wielding a pitchfork...sigh. At least we're all enthusiastic. Additionally: Fair turnabout for us to jerk off while a tribunal puts Ben to a slow bureaucratic painful death?
I'm more of an engineer/scientist type: could you tell me where that curve fit comes from? Is that just a semi-log regression fit? Try that one on the human population and you get some cool numbers.
I aint denying it'll go there, so don't flame me...
what happens to lady Blythe? Is JPM going to pension her off? Maybe she'll go to Canada...land of the golden pond of pension bubble! aka L.K
Must Read?
James Gleick "The Information: A History, a Theory, a Flood."
This one should be good fodder for a couple hundred thousand words time to commence the blogalicious blather and rants and perhaps even read the book.
from bloomberg:
On Gold:
Gleick: Money itself is an information technology. If you take a dollar bill, it’s just a token, an indicator that I have a claim on some amount of value.
People used to think it was worth something in itself because it was made of gold. Even now, we sometimes naively continue to have the illusion that a gold coin has value because gold is somehow precious.
Lundborg: Look at the rising price!
Gleick: Aside from the industrial uses, the dominant source of value for gold is something entirely psychological, because people agree that it stands for something.
It’s really a form of mass hysteria.
On Wall Street:
Gleick: The villainy in the financial sector over the last decade has expressed itself in an increasing abstraction of financial instruments. But it’s not the abstraction in itself. What’s to blame is the lack of regulation and lack of sense in the way it was all handled.
?
http://www.bloomberg.com/news/print/2011-03-08/from-rothschild-pigeons-t...
Anyone care to file a book review?
It’s really a form of mass hysteria.
Yeah wait till his Fortune is devalued 70:1, we'll see who is Hysterical.
Yup - it's been dollars, silver, gold, conch shells, wampum, animals, land...all imperfect attempts to act as a store of wealth. All have been gamed, just some much more than others. The dollar is one of the biggest cons of all so now folks look for agreement / consensus for real stores of wealth. Voila gold, stocks, silver, energy, ags, commodities, farm land, RE, CRE...anything hard or with some inflation adjusted value w/ real world practical utility. None are prefect, none are really that great but some are far worse than others.
I am from the places and times in wild East where no money but some trades which were made in: petrol, tobacco, beens, canned food, vodka ( the entire universe of values and means)...
>> Gleick: Money itself is an information technology. If you take a dollar bill, it’s just a token, an indicator that I have a claim on some amount of value.
He confuses real money with the derivative of real money (fiat currency).
If it's not intrinsicly valuable it's not REAL money.
I guess people have been hysterical for the last 2500 years......
Looks like an e^x exponential curve hahaha.
QE to the moon!
Politicians will say the fed the is a national treasure and such a trial would be un-patriotic and un-American. The sheeple will believe them/won't care as Jersey Shore hits 100 episodes and the raping of America will continue unbeknownst to it's slaves.
Eureka!
...so there are some speculators who take exception to the Mayan calendar?
WATCH THIS CURVE.
Hey Tyler,
Brand new Eric Sprott up on King world news fresh right now...
That is 250 dollars (why people insist on valuing gold in dollars is still a quagmire working through my mind) in five years. That is about 3 percent a year - rock on.
very cogent point, i'd bet spx futures out that far probably trade about the same price (ie 18% premium). it's a function of future interest rates being priced by the market not a directional bet on gold rising to the moon as many on this site believe will happen
Tyler, misprint?
For 2016?.Maybe Dec 2011?
Think so bud.
Shit we may not be here in 2013.
Lord Keynes always knew best; 'In the long-run we'll all be dead'.
S.O.B. shithead
Problem is I gotta eat in the meantime.
Dec 2016 hell $1,700 gold may well be by end of this month!
Ok, I see my ERROR.....sorry.
Still think it will get there much faster.
Time for a margin hike bitches!
and/or talk of no more QE (without any explaination to the
Repercussions of no more QE will be dealt with).
and/or articles on promonent main stream media sites about how precious metals are a risky investment and look overvalued.
Funky, you nailed their tactics right there.
OPEC is also increasing oil production hahaha!
FMBoy: they have the perfect antidote to the PM pop. Look at which Feddie recently seen with hawk feather dangling from his charts is speaking at 12:45pm. Right when Blythe sends out the tanks.
Gold? - check out the oil - taking off - flying like a bird set free by the force of QE!
http://www.bbc.co.uk/news/business/market_data/commodities/143908/intrad...
Thanks.
Meanwhile the Feds Bernacular continues to claim things are contained. Which means that Ben is wearing his Oops I Crapped My Pants diapers.
Brent is now at $122.30 for a $14 spread vs WTI.
Expect WTI to play some "catch up" soon, further increasing the pressure on the PM shorts.
18% carry.
Cost of margin, debt, storage and insurance?
Bzzzzzzzzzzzzttttttt!
Somepthin's happenin' here.....
Bzzzzzzzzzzzzttttttt!
Could it be the cost of Bullshit Fatigue and the Credibility Trap being factored in, a social cost in the Contango?
Bzzzzzzzzzzzzzttttttt!
"Bullshit Fatigue and the Credibility Trap"
+ (n+1) X 10^12
Do you measure bullshit fatique in newtons or lb*ft?
Slugs/Fortnight?
silver up 1%
pslv down .66%
huh?
Buy the mining shares!
PHYS doing a follow on offering, so folks ancy about PSLV as well. Been done before, and dip was temporary during and shortly after the offering. But is enough to piss one off, n'est-ce pas?
I'm thinkin' of picking up some more, using the dip as an opportunity. The discrepancy has been arbed out of the market with passage of time prior hereto.
Same issue with CEF. Hard to enjoy the run when the reduction in premium nets you down.
I nibbled some more CEF before the secondary, was a bit pissed when it was announced and then took the oppurtunity to pile in....
actually a very good time to buy....the premium will get back to 9%...and that is a $1 increase on just the premium alone...add in the increase in prices of gold and silver..and you looking at another 1-2$
Killer shit dude
Got Gold’ s New All Time High at $1,450 – April 5
Ol All time High at $1,448.60 – March 24
(MarketWatch) http://www.marketwatch.com/story/gold-futures-trade-in-record-territory-2011-03-31
Gold's got a brand new bag!
not a scientific approach but from checking the silver and gold auction sites (daily) i've noticed less merchandise offered over the past 2 or 3 months. bids are firm unless the starting price is off the charts high. premiums are not yet over the top except for some uncirculated bu types that for some reason get bid way up. my take is that folks are holding on to their stash expecting higher prices.
Gold / silver is money - if you sell it, then what do you do with the proceeds??? Dollars? Bonds? Equities? Real lack of viable alternatives...approaching the Rubicon.
exactly. in my world i've crossed the rubicon, metaphorically speaking: only silver and gold for me.
Guns & Groceries
Dollar Index is finalizing a falling wedge pattern (like the one in end-2009); looks like its gonna bottom out in between 74-75.. the pattern is projecting a big bounce and whole commodity asset class (including PMs) is on the verge of taking a huge hit very soon..
Been hearing that same story since silver was at $13.
well, its up 3X since then.. if it shaves off $15 in 2 weeks it would be a huge hit..
$13? Try $7.50. (and gold at $420)
PMs, the top that keeps on topping.
Seems the sensible reaction - but hard to believe the market will now be allowed to follow it's natural path...seems instead the printing will continue to avoid the deflationary depression that would naturally now occur???
DXY on my screens looks ready to display the bottomless collapsing nation pattern.
LOL
I'm glad I'm not long DXY, hurray, hurray!
When DXY crash, it'll make my stash, a bonafide currency.
Look away, look away, look away down south, it's DXY.
Look away, look away, look away down south, it's DXY.
I hate to burst your bubble Jon but if the DXY can't hold above 76 for longer than a day then it is going to break down as 76 becomes over head resistance.
I'm junking you because the new breakout for gold started today.
Look for $1500-1600 before another "correction" comes. This is an eleven year Golden Bull market my friend, and this isn't the top.
Gold over $ 2,000 by June 2011
If Bernanke doesn't "resign for personal reasons"* by end of September 2011 ...
Gold over $ 2,500 by December 2011
barliman
* - no one serves who cannot be destroyed
Oil, Utilities & Groceries are the in-your-face motherfukka! catalyst that create public rage.
Even corn fed sheeple in Amerika are capable of rage and are going to let loose soon.
I already see the cracks forming all around.
Bernank is a Dead Fed Head (politically speaking).
Anyone long equities right now is clinically insane. Look at the ticker of news on RanSquawk - it's the same bullshit announcements by publicly traded corporations and 'rumors' of acquisitions and actual acquisitions (using diluted shares) that we saw as a prelude to the 2007/2008 crash, with rising oil & commodity prices as the kicker - the exact same setup.
And if anyone thinks theyll get an equities plunge warning, just Google- 'DOW Plunges 777 Points' and see every article from that day saying it was all TOTALY SHOCKING and UNFORESEEABLE, Caught everyone TOTALY by SURPRISE and DISMAY.
History is fun.
Two words: "Normalcy bias"
When making a large purchase today (Serger for the Wife's B'Day), I explained to the saleslady that FRNs are becoming like S&H greenstamps to me. She stated that she knows something's wrong but doesn't know what to do about it. I showed her a Silver Maple Leaf I always carry and suggested she start buying some BEFORE the FRN becomes totally worthless. The Ignorati "feel the disturbance in the Force", WE have to help them some...
Clean breakout.
Finally!!!
Lol, WHAT?? Ha haa ha ha haaaa!!! Hey where the retail stock chart boner of the day?
posted courtesy of the only man in the united states that's lost money investing in the biggest bull market in gold and silver ever(?).
where are my commrads Methman and Willy the Bastard and all my fellow clowns
+$1454
Quite the POS commentary you wrote today Jon. Keep up the good work! LOL.
http://www.kitco.com/ind/nadler/apr052011.html
Thank for reading BAy
How do you like my new disclaimer:
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
Dem's fine weezel wurds, right there! Shysters everywhere would be proud!
18% gain, or 4.5% inflation for the next four years seems low to me. Id put it nearing 1975`ish. Running at a current real 9% a year inflation. And thats probably low.
Protesters bussed in fresh from camp Bernank to CNBC, talking heads try to downplay PM's.
Ministry of Truth strikes again, I guess we should all sell gold/silver and buy Netflix. HAHAHA.
They only get the traders who've had heavy nights and had enough cocaine to kill a family of 4 on CNBC.
Dollar is so weak now even Obm tried to stir MidEast and Euro debts can barely move DXY over 76. Most of foreigners start to understand 'Treasury Ponzi'. Especially BRIC countries, they printed money even faster and larger than Ben did, people there quickly buy up everything can stores value. So if more and more people withdraw, Ponzi will collapse by itself. Only WW3 can solve current problems now.
Bernanke: "Consumers don't want to buy gold." (March 2011)
Deputy Marshal Samuel Gerard: "Do you want to change your bullshit story, sir?" (The Fugitive, 1993)
PLZ STOP GOING UP GOLD AND SILVER, I'M GETTING DIZZY!!!!
Wait, it will get NAILED after the close.
Sorta like kicking a man when he's already down.
Bstds do it everytime.
Look for a $10/$12.00 drop easily.
IF the CS hold true to form,Slvr will be slammed back below $39.00 also, if it's business as usual.
I think the PM stash is giving off a few milliSieverts more than background.
Where is spaulding?
Wow, Everything is green. Gold, Stocks.. Must be Hals new and improved software
Reports coming in that the roof is on fire. Please confirm. Advise on extinguishing with water
Just some skyshine, resume the water pumpin'...
Paging Turd, paging Turd. Please report the information booth........
How does it feel Blythe? Hope you like it. We have more of that where it came from too........
Gold
Two IH&S targets.
http://www.zerohedge.com/forum/99er-charts-0
$1709 vs spot price just represents forward LIBOR plus storage costs vs. today's spot, nothing else. That's just an annualized ~2.6% a year.
Nothing to see here folks, move along.
http://www.washingtontimes.com/news/2011/apr/5/congress-makes-first-majo...
repeal of 1099 reporting rule, sitting on obama's desk......
"We have to pass the Health care reform bill to see what's in it." Nancy Pelosi (D-CA)
Word up Nancy: Egg all over yer face is NOT a beauty treatment!
Gold & Silver Bitchez!!!
http://www.youtube.com/watch?v=ZNGe7iK1O-4
Blythe last seen with a teddy bear humping each leg.
+++++ Nice
You are sick! I like that about you...
http://www.youtube.com/watch?v=-DYaMmjTd2o
GDX is up 4% today!
dead head fed goons can't pass a budget and be lucky to pass gas. Anyone not exiting the paper fiat dollar into hard assets; fleeing benron burnokio bucks as a vegan from a slaughter house, is just plain blind and lookin through kaleidoscope hopium eyes to Keynesian ruin!! Yes! I borrowed harvey organs favorite saying to get a point across. End of the dollar when gold does go into backwardation so get the message and get out while the gettins good. Richard Russell - US Dollar Collapse Will Accelerate
I've shown chart after chart of the US dollar. I've shown how the Dollar Index has been violating support levels. To refresh your thinking, I've included an up-dated chart of the US Dollar Index (above). What we see here is a giant head-and-shoulders top with a right shoulder that is in the process of breaking down.
Even as the dollar sinks, the public seems blissfully unaware of it.
http://www.kingworldnews.com/kingworldnews/King_World_News.html
dead head fed goons can't pass a budget and be lucky to pass gas. Anyone not exiting the paper fiat dollar into hard assets; fleeing benron burnokio bucks as a vegan from a slaughter house, is just plain blind and lookin through kaleidoscope hopium eyes to Keynesian ruin!! Yes! I borrowed harvey organs favorite saying to get a point across. End of the dollar when gold does go into backwardation so get the message and get out while the gettins good. Richard Russell - US Dollar Collapse Will Accelerate
I've shown chart after chart of the US dollar. I've shown how the Dollar Index has been violating support levels. To refresh your thinking, I've included an up-dated chart of the US Dollar Index (above). What we see here is a giant head-and-shoulders top with a right shoulder that is in the process of breaking down.
Even as the dollar sinks, the public seems blissfully unaware of it.
http://www.kingworldnews.com/kingworldnews/King_World_News.html
Excuse the double post! Been a while since I've posted here! Maybe it need be said twice!! I think with Utah now passing the legal gold/silver tender bill; 3/2, making US mint gold/silver eagle bullion coins now legal tender. Many other states to follow!! These US mint coins will get scarce as sovereign states follow Utah in a backup plan to the shrinking and soon collapsing paper fiat dollar. Anyone gettin a US gold eagle under 1550 or a silver eagle under 50 may thank me later.
I fail to see why they even did it.
It's legal tender know.
Has been since the first ones were released.
Why the big deal.
Protect the people from dead head feds confiscating the people of Utah's gold/silver bullion/wealth preservation. It's brilliant! US mint coins were not legal tender and minted as uncirculated coins. Now circulating in Utah. Other states wantin their citizens to carry gold/silver bullion will protect them from the tyranny of fed goons immediately. dead head feds want it all and will take it by hook or crook lest we the people are protected by states rights!! Got it? Then get it as the window is closing fast and financial armageddon soon upon ameriCON'd.
Authorized by the Bullion Coin Act of 1985, American Eagle Gold Bullion Coins quickly became one of the world's leading gold bullion investment coins. Produced from gold mined in the United States, American Eagles are imprinted with their gold content and legal tender "face" value. An American Eagle's value is based on the market price of its metal content, plus a small premium to cover coinage and distribution.
American Eagles use the durable 22 karat standard established for gold circulating coinage over 350 years ago. They contain their stated amount of pure gold, plus small amounts of alloy. This creates harder coins that resist scratching and marring, which can diminish resale value.
Legal tender face value! That's 1 dollar for an American silver eagle! Under Utah legal tender law the face value is out and spot is legal tender. Plus you get favored status in the state with US mint bullion coins and exempt from capital gains taxes. Some of you guys are goon-a lose your asses holding paper fiat and all that's attached to it. gov goons have bated the general public to be worthless paper money bag holders in all collapses of fiat monies. The USD is a debt based fiat currency headed for the scrap heap of history in collapsed paper ponzi fiat monetary systems. Wake up and get it or bend over and get it!!
that's easy money. You buy spot at 1456, sell the future at 1710 and pocket the difference. You store it untill you have to deliver. What's the catch? Confiscation?
It's not much of a return.... The Hecla preferred convertibles has a higher yield...
.
I hate to burst your bubble, but if you ignore storage costs that future implies a (risk-free) interest rate of only 2.9% for a 5.75 year maturity, which is not so far away from the treasuries that it would be pricing in a lot of inflation, so this is not the big story that the headline hypes.
Try again.
BTW, the radiation pouring into the sea is much scarier.
Take your legal tender 50 dollar face value gold eagle or 1 dollar face value US mint silver eagle bullion coin to any bank outside the state of Utah and see what you can get for them! ......................................... Although nominally issued as legal tender, these coins' face value as currency is far below that of their value as bullion.[5] http://en.wikipedia.org/wiki/Gold_coin Wake up AmeriCON'd
Asia capped spot gold at $1454 heavy offers from Japan at that price.
Of course the spotlight is on silver right now, but Gold is really where it's at. Some of my sources report that it might get over $2,000 by 2015...with silver where it's at right now, any precious metal is a valuable commodity. Suck it, JP Morgan!
www.forecastfortomorrow.com