Gold Goes Parabolic As Chairsatan Resumes Vendetta With US Dollar, Middle Class

Tyler Durden's picture

As Bernanke reminds the world that the one and only weapon in his arsenal is stealth inflation through dollar devaluation (yes, some had already forgotten it, especially all those economists, think tanks, and others who claimed there was no QE3 hint in the FOMC minutes), there is one clear winner: gold, which continues to surge to all time highs and will likely cross $1,600 within the week (if not day), from which point it is smooth sailing to $_,000.

And remember crude and plunging prices at the pump? Kiss those goodbye and thank the Chairsatan.

And the most notable chart: the biggest winner by far today is silver, followed by gold, with the stock market dead last.


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redpill's picture

Sometimes I hate being right!  Bastards are going to take us down the Keynesian hole till we're done.

Temporalist's picture

It would appear Ben Bernanke hates being right 99.99% of the time.

Scottj88's picture

Federal Reserve Note - 1971-2012.  Massive Inflation on the way...

TheTmfreak's picture

Geez, they're killing me with these prices. Can we get QE3 so I can buy more cheap gold and silver.

Ahmeexnal's picture

And meanwhile, the silver "bubble" keeps bursting.
Today silver fell off a cliff again, falling 2 dollars from 36 to 38 in 6 hours.

/sarkozy off

HungrySeagull's picture

36 was a beitoch of a support or resistant for silver this month.

RafterManFMJ's picture

I am far from expert, but I don't think this is how it works.


ah-ha! I think you are Mr. Sarky-Man

Max Fischer's picture

I bet all the loyal doomers who follow Turd Ferguson must be pulling their hair out.  


The summer doldrums (frankly, any commodity in a consolidation phase) will crush and bankrupt you in less time than it takes Bart Chilton to fix his hair. As soon as you get excited and greedy, they'll reverse and kill you time and again until the phase is over. Trust me, you won't miss out on much and you'll save yourself a lot of money if you patiently wait and avoid the temptation brought upon by greed."

As discussed here last week, the doldrums almost seemeddesigned to reclaim from you all of the profits you made during the last run-up in price. I know it is extremely tempting to buy this rally. Unfortunately, anyone buying here will likely get whipsawed

- Max Fischer, Civis Mundi


fuu's picture

omg a whole $100?!? How will they go on?


btw what is your website's url so we can come bask in your insight?

fiddler_on_the_roof's picture

Really, a Gold/Silver Bug told to sell Gold at lows ?? I am scratching my head.

I told here to buy Gold on July 1st 2011 when Gold was $1485/oz before this $100 run up.


         by fiddler_on_the_roof
         on Fri, 07/01/2011 - 13:15


         if anyone has money, they should load up on Gold now and continue for a week.

         stocks also will be great.

Smiddywesson's picture

Wow, Fiddler, after seeing gold get knocked down and come right back time after time, telling everyone to buy when it got knocked down yet again was real crystal ball work. 

It's not too hard to fortell where PMs will go if the currency is going straight to Hell.


fiddler_on_the_roof's picture

Well it could have gone down further and people could be waiting for a better entry point(see Turd's advice to sell at $1485),

especially with all those QE no QE noise people can be confused.

Once you sell, it is hard pshychologically to buy back if price goes above the sell price(waiting to drop).

A good entry point is when you get more Gold for cash.

Pegasus Muse's picture

TF is talking about people with trading accounts.  He's right about the summer chop.  We are going to see more dramatic price swings as real world events overwhelm the Fed's ability to suppress PMs. 

Most TF fans are big "buy and hold" types, not traders ..... though some are both.  They (like me) are loving life and accumulating on the dips.  I suspect there will be more buying opportunities before the Big Ponzi implodes.   

Max Fischer's picture

I disagree.  If Turd's focus was the "hold forever" crowd, he wouldn't be posting his hourly chart analysis every day.    

Everyone agrees that gold will eventually go higher - there's no need to start a blog about holding gold forever.  Turd clearly spends most his time trying to make short term price predictions, and he got this one wrong - big time.  

This is the same guy who, every day, reminds his readers that the PM markets are totally rigged, then, oddly, posts a 3-hour chart analysis.  If his prediction is right the next day, then all the doomers hail him as some sort of PM oracle.  If the analysis proves wrong, then it was all just manipulation.  This duplicity is not only hilarious, it's a clever logic trap which enables him to be right every time. Those who actually try to trade on this strategy won't find it very useful, and this latest $100 move is no exception. Personally, I find Turd's analysis very junior varsity, and perhaps this is why ZH hasn't added him to their blogroll.  

- Max Fischer, Civis Mundi 

Sheikh Djibouti's picture

Turd is special.

Just like all of you are special.

And now it's time to play ... dodgeball.

mr_T's picture

TURD did say to buy physical ..which he did and forget the noise.. I also loaded up... Average up is way to go.. very happy I bought miners after reading and listening to the Lords of the bling.. nice call wise ones... He call was right and conservative unlike these other idiots out there encouraging people to take retarded risks..

tmosley's picture

Wow, you are a fucking moron.

You can't tell that Bernanke just announced QE3.  This is the action of a single man.  Such things can NOT be predicted.  It changes the position of the markets from "normal trading" to "dollar devaluation trade".

Max Fischer's picture


Today's hearing had no surprises at all, especially to the ZH and Turd crowd. In fact, the only thing Turd has been right about is that the Fed will continue QE indefinitely, and that's only because he heard it from ZH first.  All we heard today were confirmations of what was already known.

The only thing Bernanke said was, "The possibility remains that the recent economic weakness may prove more persistent than expected and that deflationary risks might reemerge, implying a need for additional policy support. The Federal Reserve remains prepared to respond should economic developments indicate that an adjustment of monetary policy would be appropriate."

What did you expect Bernanke to say?  That if weak economic conditions persisted, he would do nothing and that the Federal Reserve is not prepared to do anything?

Today's comments by Bernanke should have been the most predicable comments in HFSC hearing history, especially to a blogger who believes in infinite QE.  To imply that Turd was caught off guard by Bernanke's comments is pure lunacy.

All this notwithstanding, what about the $80 move before today? 

- Max Fisher, Civis Mundi

Max Fischer's picture

By the way, Mosley, how's "Drill Time" going this week?


Just another doomer goofball. 

fuu's picture

"Just another doomer goofball. "


Rather be a doomer goofball than a trolling sock puppet.

flacon's picture

"In the end we are all dead." ~ John Maynard Keynes

ViewfromUndertheBridge's picture

from A Tract on Monetary Reform and one of the most misquoted phrases that Keynes ever wrote...he was decrying the passivity of believing inflation would resolve itself in the long term...he was all for action against inflation, knowing how pernicious it is.

Keynes gets a bum rap from "Keynesianism".

Peter K's picture

... and end up in Kenya;) Hope the bamster's brother has a few free square feet to spare in that hut of his.

UpperWestSideCapitalist's picture

I loved it when the Bernack said gold isn't money.  And there was stunned silence.

francis_sawyer's picture

“Gold is Money. Everything else is credit”

-- JP Morgan, shareholder of the Private Federal Reserve Bank

kengland's picture

Bought 10 silver eagles last night. At these prices, the metal is being given away

camaro68ss's picture

i placed an order for silver last night and stopped it because i thought it was going to go down.

Im a fucking dumb ass

exi1ed0ne's picture

Is it going to go up?  Yes.

Is it going to go down?  Yes.

Does it matter if its going in your safe? :)

Jack Sheet's picture

@ camaro: "If you have the asset, the price goes down. If you don't have it, the price goes up"  ...Andre Kostolany, famous Hungarian speculator.

HungrySeagull's picture

You sir, need to take a drink and man up.


Up, down whatever who the fuck cares as long as YOU own it?

If you DONT own it and sit there wishing in one hand and shitting in the other, you lose.

Smiddywesson's picture


You can't be serious.  BILLIONS of people didn't buy silver/gold yesterday, it is statistically impossible for them all to be a dumb ass.  I wish I bought my gold at $400, but I didn't.  So what?  As long as I make a profit, or at least protect myself from the destruction of the currency THAT IS COMING, I win.  If PMs were going to top out here, and you missed your chance, I could sympathize with your feelings.  However, does anyone thing gold will top at $1600, or silver at $38???  With this government?  With this banking system??? 

Stop blaming yourself for bad trades or missed opportunities.  You missed nothing.  Nobody knows where the top will be.  Buy a little now, and if it dips some, load up.  It doesn't matter if you catch the whole move, just get into the move.  The USD being destroyed is a given, that makes this trade risk free.

XenoFrog's picture

Nah, he's pretty much a dumbass for not pulling the trigger at $32. But that's ok. I'm a dumbass for getting in at $27 instead of $7.

Invisible Hand's picture

So much for the collapse of PM.

Should have known that Bernake had to continue dollar destruction.

Have they brought the clowns in yet?

Peter K's picture

Ok, you convinced me. He is evil.

An honest individual would go after the governmental discreationary spending if he doesn't get his debt ceiling increase. But not the Chairsatan, he wants our man-child president to go after Medicare and SS. What a douche bag:( 

NotApplicable's picture

Now, with a notable (mostly marginalized) exception or two, extrapolate that perspective out across DC, and it soon becomes obvious that they are nothing more than the mafia, but with cheaper suits.

Smiddywesson's picture

"Now, with a notable (mostly marginalized) exception or two, extrapolate that perspective out across DC, and it soon becomes obvious that they are nothing more than the mafia, but with cheaper suits."


Ha Ha NotApplicable, you have the quote of the year.  The banksters are like the mafia, but with cheaper suits.  LOL

Rodent Freikorps's picture

Give us the debt increase, or granny gets it.


I'm sure they think they are sophisticated, but this is nothing more than a mugging, in reality.

Bicycle Repairman's picture

It is a mugging, but note that the weapon used (granny) is powerful.

nobusiness's picture

This will be the shortest stock hopium buzz yet.

SoNH80's picture

Hopium suppositories wearing off quickly....

HITMAN56's picture

Red - I thought I was the only one that used that comment...nobody seems to get it when I say it...Fing sheeple always say...why do you hate being right....

cgbspender's picture

Seeing silver up 5.2% is better than sex.

Thadius T. Crunk's picture

The sex you have must be different from mine.

wandstrasse's picture

you do not know how much silver he has.

lawrence1's picture

But you dont know how much sex he has.

Temporalist's picture

What's wrong with having a silver fetish?

achmachat's picture

i was going through my old duck comics, and there was a panel of McDuck's office with a frame on the wall that read:

"Only Gold and Silver are real money"

very fitting for today's speech!