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Gold Hits New All Time High Price
So much for not buying at the top: earlier spot gold hit an all time high in dollars ($1,251.5/oz) and all other currencies. Any minute now it will go back to 0, the central bankers and skeptics say, just because the politicians really have it all under control and we all just have to trust them. From Reuters: "Gold hit a record dollar high above $1,250 an ounce and new peaks in other currencies on Tuesday as concern over Europe's economic outlook lifted risk aversion, reversing early gains for the euro and stock markets. Concern grew over prospects for a European economic recovery after ratings agency Fitch warned the UK faced a "formidable" challenge in its plan to cut government borrowing."
Elsewhere, The Australian reported that a major reason for the price spike was the rumor of one or more major funds once again buying up gold in the open market:
Futures prices jumped on talk in the market that a large, longer-term macro fund was purchasing gold rather than the euro via several banks. More than one of these types of funds may have been moving into the metal.
One buyer paid a roughly $US8 premium for the option to purchase 100,000 ounces -- contracts that would be worth more than $US120 million -- of Comex gold for $US1250 an ounce at a later date, though it was unclear what type of participant this was, according to a trader.
In turn, the seller of these options may have hedged itself by buying spot gold, or Comex gold futures, pushing the market higher, said the trader, who isn't authorised to speak with the media.
That buying could have been in the amount of around 25,000 ounces, calculated based on the type of hedge, expiry of the options, market volatility and gold prices.
Look for gold to roll over $1,300 and higher as the rating agencies gradually catch up with reality, and the next wave of sovereign downgrades hits Europe. Should they focus on the UK, and Japan, then gold will really take off toward the 2+ handles as global systemic confidence really starts crumbling.
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Sounds like some big players might be organizing a concerted assault on gold a la Soros and the GBP. It's about time, that's a honeypot just begging to be shoplifted.
Oh my goodness....
Dude is just vile. Pure unadulterated evil. May he get his richly deserved reward.
Who's talking about a rally? Most people here are talking long term.
Why don't you go back and buy more of your precious paper currency that this ENTIRELY sustainable economy is based on.
Exactly, gold a store of wealth. And since it was successfully
depressed by the banksters for a few decades, it will now not only preserve but increase one's real wealth. Let the short sighted rant and rave while I buy. And, in fact, gold has never lost its central position as underpinning currencies. Rather, a bunch a greedy lying sociopaths have exploited fiat to rape and plunder the middle class. And now they need and use private guards as the public is finally awakening.
And thanks to Tyler and zerohedge staff for an excellent forum and to folks at GATA, Jim Sinclaire, fofoa and others for a valuable education.
Thank you so much for your comments, JW. I was about to make a really bad mistake and go to the Coin N Stamp Shop downtown. It sure looked like a good idea to pick up a gold coin or two, maybe some old silver coins. The information you've given me has changed my mind. Thanks again for your comments.
Where the hell are JPM, COMEX and the LGBM guys now?
C'mon guys, step up to the plate and bash gold down $50 just when I am ready to buy!
So, get off your butts already! I want to buy damn your hides!
Thx in advance!
For me "upward" is when it goes up higher and faster than other assets. Like now. I loaded up in 2005. Laugh at me all you want.
30 year chart, lol
You guys actually take the time to read this incoherent chicken scratch?
Every blog always has this raving lunatic who spews disjointed phrases and you never know whether they just have poor English skills or were lobotomized. You might think that person is actually me, and I wouldn't argue with you much, but my money is on this guy.
I am Chumbawamba.
+ the true value of the following blurb:
You are on the money. In fact I did cash out of Gold in 1980 at $850/oz, and I moved into its chief competitor, crisp, new Federal Reserve Notes. Now, I have - lemme check here - $850/oz.
Wait a minute - where's my $2221?
And for those who bought at $200 in 1978, only 1 1/2 years before the price spike, JW? What is your inflation-adjusted calculation for them? Or how about those who bought at $265 in 2001? How are they doing in inflation-adjusted terms today?
Anyone further who dares bring up the specious argument of "Anyone who bought at the 1980 peak of $850 ..." is going to be an automatic "flagged as junk", because that is all that idiotic non-argument deserves. For every person who bought at the peak in 1980, I dare say that there are 10,000 others who bought and held at a significantly if not fractionally LOWER price.
Spot the douche who has no gold... lol...
UK wants to start cutting. Is that right? Very easy to see that once a country becomes addicited to deficit spending, there is no easy way out of the bag. You cut, your population becomes unruly, a.k.a Greek riots and then you throw yourself into a recession. Those are some lovely outcomes and solutions aren't they?
How the fed will ever be able to remove deficit spending is beyond me. How do you suddenly remove 12% of GDP from the economy? By having the hand forced I suppose. I tell ya boys, the world is in tough shape....
That presumes that all cuts are the same and that all peoples of the world will replicate the Greek response.
The West may derive from the Greeks, but they certainly do not look to them for a civilized response to austerity measures.
Austerity comes with interest. Entire nations convulse over usury. It was banned for hundreds of years for precisely this reason. The compound interest function cannot be bargained with, it cannot be reasoned with, it does not feel pity or remorse and it will not stop, ever, until you are dead.
Uhhh, yes it can. In a free market, a lender can chose to lower or suspend interest payments if he so chooses (rather than risking total default and losing the principle).
It's only in our fascist society that banks can rely on governments to back 100% of principle losses that they refuse to negotiate on interest.
Austerity for the middle class, free money and guaranteed profits for the banks.
Does it seem like to you the comments on the gold stories are always the same?Lets save some time this time around, and rather than post the same messages we always post over and over, lets go to a system where you just type the number of the comment you want to make:
#1) Gold is too expensive
#2) You can not eat gold
#3) Yes, but you can trade gold for food
#4) With lead, you can get all the gold you want
#5) Buy chickens
#6) I made more 1750X on my options trading than you did in gold
#7) Should I buy GLD?
#8) No, you should hold Physical metal
#9) Gold Bit**es
#10) Yes, but I have some IRA money I need to do something with
#11) Then buy Sprott PHYS
#12) Gold has no use and no value
#13) Gold is money.
#14) I can trade it for a cow
#15) The gov. will take it away
#16) When they unwrap my cold dead fingers away from it.
There, now just type in the # for the comment you want to make and save wear and tear on your keyboard.
+1000
that fool Johnnybravo can take the day off now
A curse be upon ye! Thou hast invoked the name of the Dreaded Troll. Thou art to be banished to the wasteland of Yahoo. Off with thee now, trundle along.
Maybe they work for the same social media consultancy
Unfortunately, the position of anti-gold fool is a full-time one, with mandatory overtime and weekend work as well.
Gold: the ultimate lubricant
Grease me up!
Hey, if I post a positive comment to everyone's comment does that make me the anti-troll?
Is that bad? Just askin'.
#9
Gold Bates?
Hey, Rebel. That's a pretty good list. Under #14 though, what type of cow.
14) A- Organic Angus dressed and delivered
B- Range fed, on the hoof
C- Road Kill, fresh
D- Road kill, day old
There, you can now have your pick.
If you don't have much room, I'd suggest "Mini-Cows"
http://www.minicowswest.com/
Won't work. Mrs. Rebel would name them, put a little bell around their neck, and buy organic vegetables at whole foods to feed them. The little fellers are too cute to be a reliable food supply.
You're probably right, but the right attitude will overcome this. Direct quote from the web site that had me laughing: "The most efficient, cutest and tastiest cows..." cute AND tasty!
a small percentage uptick on the hunger graphs (head and shoulders?) will certainly result in the "right attitude" :^)
"bovines bitches"
Angus, baby.
Not all cattlemen are unaware of the value of PM's.
How about a lean, grass fed, hormone and antibiotic-free Texas Longhorn?
I can make you a deal!
#13
#8.
#17) Gold is in a bubble and will crash any day now.
Rebel, don't tell me you haven't seen that one. (Where's that Jaybay guy when you need him?)
My humble apologies. Please consider the list amended to include most noteworthy item #17)
how about my shoshine boy told me to buy gold?
Please add this as sticky content.
3,5,8,11,13,14,16
"#14) I can trade it for a cow"
You are so right. I can deliver a steer to your preferred processor priced in either gold or silver (if you are withing 180 miles R/T of Meridian TX).
I could extoll the benefits of grass fed Texas Longhorn beef to you, but that would be Off Topic and self-serving.
Darn, I am a little over 200, so looks like a no can do.
Could you deliver one 10% smaller, 10% farther?
Assuming some nominal grazing, how much hay (you know the big round ones) would I have to buy to feed per year?
Figure it would be better to store on the hoof than in the freezer.
Figure on 10% of actual body weight per day for pure roughage diet. If you are to the north of me, then hay should be cheaper/more easily available. To the south - not so much so.
The average large round bale is going to weigh anywhere from 900 lbs to 1200 lbs. Most are in 5X6 or 4X5 rolls. Horse quality hay is probably only slightly cheaper than Platinum (per ounce) right now!
We actually supplement about 2-3 lbs. per week using all-natural (Bryant Grain) 21% range cubes during hot, dry spells like we are currently suffering through.
Our show cattle and riding steers eat much better.
Around here the big round bales go for $80 per bale. So keeping a couple steers around for ornamental purposes would be a drag on cash flow . . . sounds like several hundreds per month.
Are you the guy that goes around to events riding the longhorn?
No. we have a few that we ride around town and on a few occasions ride in a parade in Glen Rose or Walnut Springs, and once or twice in Meridian and DeLeon.
You might be talking about Bob Coffey. He has two older steers that he takes to events and charges for rides/pictures.
None of our animals are ornamental - they are all made of beef. The calves that don't work out as show heifers are sold or held for the freezer. The steers that aren't quiet and well-mannered end up in the freezer too! The steers we keep for show purposes must also be of the right disposition for riders too.
Just another hedge against total transportation breakdown...
Yes, gold hit a record high earlier and is going much, much, higher. But first we have to get past the Central Bank sponsored takedown that will prolly bring gold down $25. This of course will have CNBC sqawking a double top and the gold story is over (again.)
I mean this is the same stupid fucking ass channel that last week compared gold to toilet paper. (literally)
I mean this is the same stupid fucking ass channel that last week compared gold to toilet paper. (literally)
That is stupid. Gold can be beaten into much thinner sheets than even the cheapest toilet paper, and you can wash it off too!
9, 9, 9, but say it in German..... nice shooting Reb, CB
If I'm going to translate it, I will need clarification as to its exact meaning. Which is it:
1. Gold, bitches! (buy gold, you dumb bitches)
2. Gold bitches (i.e., gold complains that it's not earning interest, has no value, and generally is disrespected by the better sort of people)
3. Gold bitches (bitches made of gold, have to think of all the possibilities)
4. Gold bitches (fellow gold bugs, I salute you)
Please let me know which (if any) is the right one, or provide your own interpretation.
It's performance art. It means whatever you take away from the experience.
I am Chumbawamba.
#9.4
No matter the price I continue to purchase small amounts of gold & silver on a monthly basis. It could be $1500 an ounce and I would and will continue to do so. I'm not buying it per say for myself, but to have a tangible hold in your hand asset that I can pass on to my son. If they need for it never arises for it in my lifetime they he can benefit from it later, when I'm gone. When you pull up the long chart on gold, it should be obvious that will continue to grind higher no matter what the situation.
#4) With lead, you can get all the gold you want
You're a lot more likely to just get more lead, though.
Yeah, I just love it when someone digs out the ol' 30-year charts (e.g. Douche). I guess that many have not heard, "Timing Is Everything".
I purchased all my gold between 2000-2003 and silver 2003-2005. My purchases since then have only added about an additional 10%-15% and mostly silver.
Timing...Timing...Timing.....
The 1980 silver run-up was killed by changing the rules on the Hunt brothers.
The 1980 gold run-up was largely killed by the Fed raising rates on the 30-year bond to 15-20%. Let me know when they're doing that again and I'll consider selling.
If Bernanke et.al. attempted to pull a Volker, it would literally be an economic/financial E.L.E. and I would want ALL my physical gold. It would NOT be the time to sell.
It is still amazing that to this day the Hunt brothers are considered the villains. Just more proof that Goebbels was correct.
1. http://www.fnherstal.com/index.php?id=269&backPID=263&productID=66&pid_product=295&pidList=263&categorySelector=5&detail=&cHash=b5dcbec1bd
http://www.youtube.com/watch?v=HYrymIOOBdk&feature=related
2. same round as above... http://www.youtube.com/watch?v=-GpBh52NZWU&feature=related and... http://www.fnherstal.com/index.php?id=262
3. AR-15 with a 416 conversion... http://www.youtube.com/watch?v=YWDxNimtWWY which cover your .223 needs... get some extra barrels and a few.. FEW, not couple of guns. If possible. http://www.youtube.com/watch?v=I5FPaSrxyK4&feature=related
4. http://www.benelliusa.com/shotguns/benelli_m4.php and... http://www.youtube.com/watch?v=Lyed7nZf9J4
You should also have a palet of ammo for each and maybe more to barter with... IMHO.
Good Luck, JW
JW, don't forget the most important piece of your arsenal:
http://en.wikipedia.org/wiki/Dildo
I am Chumbawamba.
LMFAO... Its kinda cool when not only are we getting excellent price action on our gold and silver, but also, we are provided with a free obamunist pinata to bash and ridicule on the forum. Life is good.
Obozo definitely stimulated something with all his stimulus - The GOLD market!
LOL
He's definitely why people invented 80 grain bullets for .223 and 1:8 twist barrels to stabilize them.
It's lke a 400 yard restraining order.
And...you've...got...the...only...ones...on...the...planet.....right?
Oh no, didn't think so.
lol...wtf good is AMMO as a barter implement???
What, people are going to trade goods for the ability to shoot other people? You're insane...
When the bush is on fire, the antelope ceases to fear the hunter's bullet.
"You're a lot more likely to just get more lead, though."
That is the truth. When it comes to "preppers", PMs are generally the last item stocked, right behind ammunition, food and medical supplies.
In fact, just spent the afternoon at the range with my son. The best thing about that is I tend to depart with much more brass than I personally expended! In fact, I need to put new tires on the old tractor - the tire shop loves to offload their hazardous waste (lead wheel weights) into the bed of my truck when I visit!
God Bless small towns.
Lead will get you paper gold, but those of us who own real gold have plenty of lead to ensure its safety.
Good luck robbing the Paper Barons!
1. http://www.fnherstal.com/index.php?id=269&backPID=263&productID=66&pid_product=295&pidList=263&categorySelector=5&detail=&cHash=b5dcbec1bd
http://www.youtube.com/watch?v=HYrymIOOBdk&feature=related
2. same round as above... http://www.youtube.com/watch?v=-GpBh52NZWU&feature=related and... http://www.fnherstal.com/index.php?id=262
3. AR-15 with a 416 conversion... http://www.youtube.com/watch?v=YWDxNimtWWY which cover your .223 needs... get some extra barrels and a few.. FEW, not couple of guns. If possible. http://www.youtube.com/watch?v=I5FPaSrxyK4&feature=related
4. http://www.benelliusa.com/shotguns/benelli_m4.php and... http://www.youtube.com/watch?v=Lyed7nZf9J4
You should also have a palet of ammo for each and maybe more to barter with... IMHO.
Good Luck, JW
The guy in the 5.7 vid can't fucking hit anything and that's why he thinks having a lot of shots is cool. But the gun goes bang lots of times and makes him feel good.
If this is your idea of "with lead, you can get all the gold you want" I'd like to suggest that, with that kind of shooting, all you'll get is lead, returned to you by someone who can actually shoot and doesn't try to make up for lack of skill with a big magazine or some cool factor boutique weapon.
Speaking from experience, the blowback action on the PS-90 is way, way, more reliable than any AR.
Sadly, that bastard at Ft Hood proved the effectiveness of the 5.7.
30-06 from 300 yards trumps any 5.7.
1 ounce hand-poured slugs from a 12 gauge. 24" fully rifled and triple-ported barrel at 125 yds is even more impressive!
1-3 agree
4 should be M-2 (inertia over gas) or Saiga 12
5 should be a Barrett .50
Beware the man who owns ONE rifle, he likely knows how to use it.
That's complete baseless crap; I see people all the time at the range that can't hit shit. I see at least ten people at the range who can't shoot for every one who can. And these are people who actually go to the range and (try to) shoot.
That always surprised me. I wonder if no one instructed them on how to use their sights. I started nailing stuff pretty quickly once I understood that. Not hard at all.
Utterly stupid.
You'll be killed by superior numbers WHO HAVE THE SAME FUCKING GUNS AND AMMO.
I'm a very gentle person. If I start killing it'll be nice to be able to save some for later. There's always the next life to cut someones head off stick your hand in their brains and punch stuff like you have hulk hands.
Patience is a virtue. So gang up. Be part of the cornucopia.
what comes first, lead or gold, you need gold first to buy lead, no?
Gold *has* to be priced here.
Sorry to sound like a broken record, but there are relatively few commodities that do what gold does. The density, rarity, and overall desirability of it aren't matched by many other materials. It looks cooler generally than platinum.
It's been in production decline since 2000. A grinding upward price trend is to be expected. And it is starting to see itself priced out of the ability of the "ordinary" people to afford it. Ordinary people having gold was an aberration anyhow.
Upward price is to balance supply with demand, simple as that. Not a bubble. A bubble would be marked by massive supply coming in to fill orders and with people buying the stuff on credit and lots of retail to retail transaction volume. That's not happening here.
Sure, Indians supplied most of the "demand" for a long time for this stuff and now the price has climbed so high in rupee terms that demand is soft. But SUPPLY is soft, having declined for 10 years despite the price trends. There simply isn't the SUPPLY and never will be for "consumption" to go back to what it was even 5 years ago. And, many know that once they sell or let go of this stuff, it may be hard to lay hands on again.
Jeepers...But John Nadler at Kitco said it was going down to $800 two weeks ago. I wonder why he would say that??
Jon Nadler says a great many things .... and just occasionally, some of them happen to be true. I suspect his $800 call will not be one of them, as was not his pronouncement that gold was in "bubble territory" at $600 just three years ago.
Jon Nadler: The Baghdad Bob of Gold
Richard Russell redeux
A light goes on in brain_-- Driving back from a restaurant last night we were listening to National Public Radio from China. They were interviewing many Chinese who had
lost their jobs in the big cities and were heading back to be
with their families in the country. We noted what terribly hard
lives these Chinese lead. The problem the Chinese leaders have
-- is to keep the populace employed or at least semi-content
and not in a revolutionary mood.
I have been wondering why the Chinese government has been almost pleading with the Chinese people to buy and hold gold and silver. And it suddenly occurred
to me that the Chinese government sincerely believes that gold
and silver are heading substantially higher. The Chinese leaders
want the Chinese people to benefit from any higher prices of
the precious metals.
The idea is that if the people are happy and richer by holding gold and silver, the leaders
will be that much safer. The one thing the leaders of the Communist
party want is a peaceful, contented (and richer) population.
So far, the leaders of China have been very smart, and it occurs to me to tell my subscribers Do likewise.
http://www.321gold.com/editorials/russell/russell091109.html
I love the heft of kilo bars in the morning.
+100000000000
The more paper gold bought, the higher the upward spike will be. Gold is firmly entering the game of musical chairs, and VERY few folks own any form of gold.
(Filed Under Humor/Truth)
When i was a young child years ago, we played a game around Christmas time. Actually it was during Hanukkah, but that does not matter. Actually it does, because the game we played was with a spinning top thing. Most people call it a dradle and you play this game by using 'gold' coins. Wish they were real gold back then because gold was much cheaper. But then again as a kid am glad they were not real gold, because there was chocolate inside. It was really yummy and made me happy.
The End :)
PS: #9
"Most people call it a dradle "
Dreidel.
See: http://en.wikipedia.org/wiki/Dreidel
Shalom
Iambic Silvermann
http://www.southparkstudios.com/clips/257090/?tag=Dreidel
ignore Cartman
Please do this with the next article on the Fed, on Goldman and on sovereign defaults.
http://www.kitco.com/charts/livegold.html
it aint $1,251 any more...
What a fucking idiot you must be, an example of the stupidity and ignorance of the general american public who have allowed their constitution to be decimated and their wealth stolen.
Most people just do not understand gold and silver. You work hard all your life to build up a nice nest egg. For some it might be 50k for others 10 Million. The amount doesn't matter. What matters it that its just paper and that paper will one day ge hyperinflated away to the point that your life savings may not be able to buy so much as a can of beans.
One must protect everything they worked for by having 10-20% of their net worth in something tangible that has proved to be a "store of weath" for centuries. If gold goes nowhere then so be it. Your paper money will continue to be worth something. However , if hyperinflation does take hold and you don't own any precious metals , then everything you worked for for the last 20-50 years is worth nothing more than toilet paper. Gold is therefore like an insurance poilcy on your wealth.
The sad part is 99% of the public own little or nothing except for maybe some jewelery.
Some people will say...but you can't eat it. Yes, you should also have a supply of canned goods and some investment in agri, maybe a small farm.
16+9+5=unwrap my cold dead fingers from my golden bitch chicken.
I have listed to you Gold b.....z some time ago and bought some apparently physically backed ETF back then at 1075, thank you. It's very tempting to take profit now but you just keep on pushing it.
Does anyone have an idea why Gold shares are lagging? A good explanation would help retain my itching finger.
I realize I could be wrong about this, but I think gold has one more pretty good dip down before the fun really starts. It's hard not to buy on a rally like this, but I'm thinking if I wait I'll really be able to load up on the PM itself and mining companies. Although if I am wrong, I'll have to buy a ticket on the hyperinflation express while it's leaving the station and it won't be cheap.
If by fun you mean weeping, then you could be right. Personally I think there's an awesome rally ahead before the bawling begins. It will be swift and painful to the unsuspecting but an opportunity for the fundamentalists.
As I've always stated, $1500 to the upside and $600-$800 by year end. Don't donate your hats, I already have my own.
I didn't realize that there were almost any members left of the Church of Nadler --- the only church in which the sacramental vessels are made not of gold and silver, but of pressed paper. Must be messy during communion ("Behold the body and blood of Bernanke ..."). I hear that the hymn "The Old Rugged Cross of Fiat" is very inspiring, however.
Actually the vessels are gold-plated tungsten.
ozzi,
dips, yes, but i dunno about that big-shakeout theory anymore, and i've been hearing (and wary of...) that prediction for literally 3+ years now - "just one more big shakeout, before it goes to the moon", etc. (i'm not mocking you)
i mention gold to friends and relates, and they cite $375 gold and they are sure it's currently in a bubble...
anyone who does an inflation-adjusted comparison to that $800 spike is looney. track the thirty-year (post-nixon) trends and sanity returns.
i moved my IRAs etc and got serious about gold in the $780s. never looked back. missed a few spikes, but never lost.
so now we're at a new high... i'm always nervous about dips, but i just don't see the forces that would dump it to that (600-800) price. too many BRIC participants that culturally respect gold far more than USD will buy it up before then (?)
as long as this market continues to have *no* "fundamental tracking", i'm in gold "for real" (no stops) and am collecting what little i can over the long-term.
again, other than PPT and related pokes, who is going to sell it down? the market-makers can use statisitics along with their inside knowledge of stop-loss and limit order clustering to measure market sentiment, and they can trigger mini (maxi?) bubbles and crashes at will. and i believe they do. but given the large numbers of 'us' buyers - we're not on any chart or graph (unless gld/cef/gtu are proxies of sorts), but i think most folks that have physical are not like the gld buyers... so...
again, i semi-subscribe to the shake-out theory, but i see the sorry shape of the world and wonder what hedge is better, and how many of us will buy on the dips for that reason alone. what force will breach that resistance? economic good news, unemployment reversal? euro recovers and all is well in euroland? isreal and iran make friends?
i don't see it... i'm nervous about fiat - i don't trust the intentions or techniques of our treserve. gold is worth a lot more than $800 bucks to me. how many others are the same?
yet... if it's an 80 billion dollar market... i'm sure the US-Fed government spent *that* much today alone on research for saving the native habitat some shrew or rat-like creature in Nevada...
"It's A Great Time For Gold Bulls, But Gold BUGS Are Still Totally Wrong...
...The bottom line is: it's great to be a gold bull and make money. But basing your investment decisions on some moral concept of money, or some sense of destiny is a disastrous idea."
Umm...http://finance.yahoo.com/news/Its-A-Great-Time-For-Gold-siliconalley-4234229269.html;_ylt=ArqIAZRemB6D4c.ERiJblTm7YWsA;_ylu=X3oDMTE2dTU3bGgwBHBvcwMxMQRzZWMDdG9wU3RvcmllcwRzbGsDZ3JlYXR0aW1lZm9y?x=0&sec=topStories&pos=9&asset=&ccode=
"It's A Great Time For Gold Bulls, But Gold BUGS Are Still Totally Wrong..."
BWAHAHAHHHHAHAHAHAHAHHHHAHAAHAHHAHAAAA!!!!
Yes, God forbid that honesty and integrity EVER be applied to financial and monetary matters!
I guess it's that time of the day again (i.e. "told you so" time):
http://gordongekkosblog.blogspot.com/2010/03/its-going-to-implode-buy-physical-gold.html
http://gordongekkosblog.blogspot.com/2010/05/mr-denninger-and-gold-or-why-dollar.html
http://gordongekkosblog.blogspot.com/2010/05/coming-financial-tsunami-redux.html
Warren from Jacksonville, huh? well you should take the time to understand the demo of Jacksonville... 900k people(ish)... and all dumb as a box of rocks, Jacksonville is lower Georgia and thats it... I could go on and on about the quality of personality of Jacksonville but why? It stands to reason that Jacksonville is maybe better off than the broad majority of the nation.
I weep for what the Nation deserves, or is capable of voting into power.
As for Gold, if any of you are even half right... Gold is not going to help you any.
I should search back for the eatern european who posted not so long ago... about the realities of deflation. Gold will not help you, things you can barter, will.
On that note... bullets may have more value... per oz than Gold... maybe not... I have both I am not so worried either way... but for those of you that have choosen gold, strictly... I really honestly do feel bad for you, please consider your options before shorting yourself.
Carry on Freaks!
"As for Gold, if any of you are even half right... Gold is not going to help you any."
And to those who say that we will not need Gold (but something else like food or guns) in such extreme circumstances, I say that empires and governments have constantly collapsed throughout history but it did not mean the end of the world. As long as you believe that human society will exist and there will be division of labor, you need money (i.e. Gold) – because:
a) You cannot store indefinitely all your needs especially perishable items such as food.
b) You do not know with 100% certainty what you will need in the future.
c) You cannot produce/manufacture everything that you will need today or in the future by yourself.
http://gordongekkosblog.blogspot.com/2010/05/mr-denninger-and-gold-or-wh...
So shut the f**k up.
These pathetic souls, such as JW in FL, who see the termination of the existing corrupt and sociopathic financial system, and the current (failing) experiment in fiat currency, as "The End of the World" really sicken me. They implicitly buy into and affirm the self-serving propaganda of the financial and political elites, who are however facing the end of THEIR perverted and unsustainable world --- for the rest of us, the collapse of the present kleptocratic power structure will more likely be a liberation.
GG,
I thing your points are very appropriate. Besides gold, I would add that to be prepared one should consider their skill set . . . do we have skills that provide a needed service or product? If people have to pick and choose in tough times, are they likely to pick a skill that we have. Most people push paper or do a trivial service type job that will be the first things that can be done without. I think the trades will be the careers of the future. Might be wise to use the time we have to build relevant skills.
During the civil war, Sherman went deep behind enemy lines in his march to the sea. Scantily provisioned he invoked a system of foraging. Armed men would rove the countryside (with foraging caps which meant nothing to the indigenous population) invested with the power to appropriate foodstuffs and essentials for the invading army. Resistance was not tolerated.
In WWII, the liberating allied armies appropriated the sovereign right of a nation to print their own currency in effectively printing counterfeit notes for foraging and setting up administration. It was enforced with strength of arms. They used pure unbacked fiat currency within a separate sovereign's land.
Modern monetary policy is essentially just a variant of the same theme. Create a trading mechanism, injure the people's confidence in their trade, obtain goods and services without any real exchange. Defraud by virtue of extortive force.
With that history lesson, I understand the wacko paper currency is the bomb, hold it through all peril types. Actually I can't understand them in the least--they must be some of the most genetic misfits destined for winnowing by the survival of the fittest darwinian society we have constructed. To willingly bare one's throat to the teeth of a predator and depend upon the compassion and forebearance of a plunderer is the height of ignorance. But the world is full of folly today. Mark such fools and avoid their counsels and company.
From 1947:
http://www.time.com/time/magazine/article/0,9171,854758,00.html
And 1936:
http://www.time.com/time/magazine/article/0,9171,848594-1,00.html
Carry on holders of IOUs of indeterminate duration and without any subjective, intrinsic value. Carry on in the adoration of relativism. Sup on air and house yourself in castles in the clouds.
I see forage caps and locusts--the sky is black with them.
Guns won't help you either
Nadler, you're using your JW handle today? Any reason why you're not using Johnnybravo today?
So many troll handles, so many anti-gold lies to spin and peddle, so many people awakening to the criminal and corrupt reality of the financial and monetary system, so little time ....
.
I see a few folks have gone full-retard on us now on the zero hedge boards...
What is it with some people going manically looney when the gold prices rise? Its as if it awakens a secret retard deep within their soul that unleashes the most bitter and vitriolic diatribe imaginable... Are these the same people who got burned in each of the last asset-class bubbles? Are they also the same people now finding the "safety" of bonds, treasuries, and dollars?
I am so so sorry, I really and truly am.
Come back to us, please dont go full retard on the world now... we're all rooting for you!
You should see the Israel Palestine threads. That is full retard for you. This is nothing. Go ahead, I dare you, have an opinion on the issue.
"Go ahead, I dare you, have an opinion on the issue"
OK, I'll give it a shot -
The Palestinians should all buy gold. The Isrealis should too.
Hows that?
Party on Silverman. It would be so cool if gold united the world!!!
Wait till gold does this at the end of them month. The door to maniacal hasn't even been unlocked yet.
http://www.youtube.com/watch?v=lLWwWsM22eY