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Gold Holdings In GLD Surge To All Time Record
The total gold tonnage making up the GLD NAV has just hit an all time high, at 1,289.8 tonnes, even as the actual fixing price of both gold and of the the GLD ETF have been relatively flat after hitting an all time high on May 12, incidentally a day when GLD had 80 less tonnes in holdings than it does today. In less than a month GLD alone has presumably acquired 80 tonnes of gold backing up its intrinsic value. Also notable is that today GLD increased its gold holdings by 21.3 tonnes, despite a decline in both PM fix and GLD. Keep in mind that global weekly gold mine production is estimated at 30 tonnes. Did GLD acquire 66% of all gold produced in the last week today alone? We wonder if the WSJ article debating where demand for gold comes, and going as far as blaming gold to be a ponzi, is aware of this fact.
As for the question of how a seemingly relentless desire to acquire gold, translating in a 21 tonne increase in GLD gold holdings translates into a drop in the price of gold, we will just leave that one open.
Chart of absolute GLD price and GLD Net Asset Value Gold Tonnage.
And the same chart indexed to a 100% starting point.
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I want to see this vault Mr GLD.
I want to see this vault Mr IMF.
I'm calling bullshit on both. The emperor has no clothes.
You can't afford to go there and check it out, or what?
Maybe you can go take a tour.
Being such a large investor, big balla, dolla dolla, I'm sure they'd let you check it out. Why not ask them? Have you even tried?
we shouldn't have to...
but that's not the world we live in.
JB, as much as you like to harass the GBugs, do you really think the gold is there, or... in Ft Knox?
this has nothing to do with investment, but everything to do with power and trust.
"this has nothing to do with investment, but everything to do with power and trust."
Circle get's the square ;-)
you seem to revel in being recalcitrant
That would be the kindest and most generous way of putting it.
Any gold they do have will be used to suppress the price. Sad but true.
Actually, the bullion banks are not selling physical gold to suppress the price, just paper gold. Anybody who owns physical is holding on to it very tight. Why sell something valuable for less than its true worth, when you can sell worthless paper for a small fortune instead?
It's beyond my intelligence why traders / investors are obsessed with hoarding worthless metals like Gold. Personally, I recommend to buy land in Argentina - steaks there are fantastic !!!
i feel the exact same way about precious stones (wtf?)...
but i like gold. go figure. :^)
I guess 6000 years worth of monetary history, set against the equally long history of the sociopathic nature of governing elites and their never-ending financial depredations against those they rule, is "beyond your intelligence" as well.
I think you forgot to subtract the tungsten tonnage.
"What tungsten tonnage?" Says BS Bernanke as he moves for the gun under his desk.
Shalom Ben? The only gun he has under his desk, ahh, let's not go there...
Like other things central bankster, Heli Ben is shooting blanks.
Yes correct. His says REPLICA.
Neil Barofsky sat outside BS' office for half an hour before he reminded the secritary he had an appointment. "I know." She said without looking up from her nails; she was giving herself a manicure. Ten minutes later, "You may see the Honorable Chairman Bernenake." "Honorable???" He muttered under his breathe as he stood up. He knocked twice, "Come in." Said BS. Neil opened the door into the huge office. BS was sitting behind the largest mohagany desk imaginable, he was on the phone. "Yes, yes...no no no. OK, I have to go. Neil hello, how are you?" "I am well. You?" "Well, I have been better. Timmah informed me Germany is not holding hands with us anymore." "Are you speaking in code?" "Hmmm? No, so anyway, whats on your mind?" Neil sat down. He was tense, he wasn't sure how to tell him. "Well BS, my department is aware that the Fed is carrying the largest balance sheet in the world, and the fact that the Treasury is fresh out of loot..." "We will issue more, no problems there." "Yeah but I think you are missing the numbers. The spending is out of control, and from what I hear foreigners are not purchasing anymore." BS eyes got wide, then he focused them in front of him. "Neil, I am a very dangerous man." "What?" stammered Neil. He was caught off guard by this bravado. BS slammed his fists on the desk. "Did I stutter!" "Ah....No."
BS stood up, and as he did, he flashed a super soaker 100 from under his desk. "I have wrestled Jackie Chan to the death. I have taken lines off of Lindsey Lohans tit. I am wild beyond wild." Neil wanted to stand up and leave, but BS had moved to the door. "Neil, what I am about to say should frighten you." "What is it then." "I am going to kill you!" BS fired the super soaker at Neil, whose first instinct was to duck, but then he realized the soaker was spraying urine. "Is that urine?" "From a syphilitic bear. AHAHAHAHAH!!!" Neil grabbed his things and left. 'I am never going back in there' he thought as he fled the office. BS sat down, loosened his tie, and poured himself a drink. "No one is intimidating as I. No one."
That's pure gold right there.
+1205.90
It sure was, and here's some more... "It's the Debt, Stupid"
"I am a bald, middle aged, incompetent, desperate man, Neil..."
"I'm fucking BALD Neil!"
"BALDER than Lloyd for crissakes!"
Neil stood motionless as Bennie sobbed face down into the itinerary calendar on his giant mahogany desk muttering...
"Lindsay's tits, Lindsay's tits..."
Finally Neil replied:
"Well Ben, these specific allegations you've made, I think are absolutely bizarre and I have absolutely no knowledge of anything like what you've just described..."
This fucking piece of shit, GLD, is one the greatest hoaxes ever perpetrated upon the global financial system.
When it goes...and it will, it most assuredly will...the effect will be like 100 Lehmans. Total global calamity and collapse. The true price of gold will be revealed. Central Banks will shudder and stammer and lose any remaining credibility.
God help us all.
that was awesome
awesome"
Agreed. Weapons of Mass Depreciation
Yah, if you own GLD demand delivery of the physical metal today!
Yep, all you do is just trade in your shares for the physical metal to which they correspond. Of course this special premise for your demand won't slip through the legal excavations entrenched deeply in the contract you willingly entered that were designed specifically to deny delivery; so in the vicinity of the next business quarter, and as long as there has been a significant net decrease, not increase, in the spot price of Au in that time, you may pay an exorbitant fee for the privilege of delivery (for which you must also take responsibility for any costs involved to arrange and execute), plus an egregious retroactive storage fee corresponding to the length of time you owned your shares, and then you may pick u... oh wait, you didn't segregate your holdings into blocks of 100,000 units; in fact, you don't even own a single block of 100,000 units. What were you thinking? Didn't you read the agreement? Just the prospectus? Well that was dumb. No gold for you. There will be a charge for researching your account....
On the other hand, you could, if you were so inclined, just unload your position on some newly minted dupe, withdraw the funds from your account, go visit what I would consider a real precious metals trader and pick up an actual bar of Au.
Just Sayin'
Disclaimer: all of the above is pure conjecture based on opinion and any recommendations were entirely for entertainment purposes. IE. I ain't your momma.
That's pure magic baby but the editors just called, they want bull piss
2nd edition REVISED. That is why we edit!
your a nutter butter†
Could you move your hand to your right just a bit?
I'd bet 100 dollars that isn't really "her."
LOL
Who cares Johnny? Whoever 'it' is, they've got a good eye for torso's.
I second the 'hand moving' motion.
Regards
This is a financial site. If you want porn, there are ten million times the number of porn sites as financial sites. I'm sure you can find some beaver online somewhere.
Second, everybody is like "ohhhh... velobabe is so hawt!"
I bet it's like a 55 year old dude wih herpes. Just sayin...
Regards
Yea, and though I walk through the valley of ZH, I will fear no evil, for the exceptionally pious JB will always be there to share his mirror appointed title of sainthood through the self righteous lens of what is morally acceptable and what is not, oh verily. Indeed, we here are graced by his constant presence, and the subsequent unending blather which it doth beget. Oh verily, I do genuflect sardonically before passing forth wind on your person, O JB of ZH, and follow that with a chuckle of smarmy mirth: so sayeth the sinner. The sinner, yea, who would not so much mind, driven by natural desire, to view lasciviously the 'pie of hair', though it be frowned upon by one who is so perfect an example to the whole phylum of 'troll', known as JB. So true this is, yea, that if the medium composing the ether of the internets could pass forth scent from screen to screen, surely yours would transfer the strongest of odours for all who experience your posts to behold, and shudder. Peas be with you. Allah Akbar, Amen, Amein, and Hocus Pocus.
Not just sayin':
Mean it.
and he's probably getting paid by move-on or the FED just to distract from the ZH message.
it occurs to me that VB's pleasant micro-torso and robo's treats are 'titillating' to most of us here because we really don't seek out those 10million pron sites with all the 'good stuff'... too much other shtuff to do. we just live our simple lives and enjoy a titty-biscuit or two on ZH when they're tossed out there. nice.
no apologies offered
why are you so sure of yourself?
you shouldn't be JB, you just shouldn't be so sure, cause your probably wrong.
http://www.youtube.com/watch?v=iV3fYlhRBwI
"What Happened?"
What happened?
Wake up in the morning,
clock says half past one
I have no sunglasses
As I step into the sun
There's no recollection
of the evil things I've done
My head feels like I musta' had some fun
What happened?
Who is this girl in my bed
She might be black, white, American, Indian or Japanese
To ride in control and not be a troll...
too bad its not real gold, and it is something JPM seems to use to control the price of gold.....
and may ultimately use to discipline these unruly peasants by engineering a dramatic decline in its value......
frankly, as a gold short now.....and in league with JPM, i think the peasants are getting really pretty damn stubborn with this gold thing......
we need to take gold down under 1200, preferably somewhere south of 1160 to cover our shorts profitably....
and, with the help/complete lack of concern from the CTFC, we should be able to do this easily,
as in the past......
why these peasants insist on making this so hard now, and...
god help us, standing for DELIVERY AT THE COMEX -- Jesus Christ, don't these people understand that we DO NOT actually provide them with ACTUAL REAL BULLION --
please, with all the love in the world towards the peasantry, we beg you....BACK THE HELL OFF and LET US WORK THIS MARKET THE WAY WE HAVE WORKED IT THE PAST TWENTY YEARS.
GO AWAY. YOU DON"T NEED (OR DESERVE OR QUALIFY) TO PRESERVE THE VALUE OF YOUR SAVINGS>
Those rights belong to us, the banking elite, and us, alone.
Physical audit plz
Audit the GLD!
And the Fed!
And the ... Oh, fuck it. Just audit everything!
No, don't bother. Everything's too corrupt, and not enough time to audit it all. Nuke it from orbit, it's the only way to be sure.
these charts are very bullish for physical gold. the last time the trustees of GLD started buying physical gold in bulk, the price was about 40% lower than today. this may indicate there are increasing concerns regarding the availability of bullion for delivery, or that the trustees think we are in for another leg up in gold prices.
The only thing NOT bullish for physical gold is the influence of Uncle Sam.
End of story.
that might be bullish as well.
It is starting to look that way, isn't it?
WTF? Your old avatar was the best one on here!
First of all, the chart has a clear rising wedge pattern, which is not bullish.
Second, do you really think that they haven't been "purchasing" the gold all along?
Don't you think that they've been purchasing futures as people invest in their fund, and now they must take delivery because people aren't flipping the shares as often as before? IE - people are holding GLD shares, so instead of the fund just trading the futures, they have to take delivery of the futures.
Third, the fact that they are taking delivery in the long term is ultimately very bearish. Think about it, they're already paying X price for the future, and then taking delivery.
What will having all that physical do the price when people liquidate out of the fund?
They'll have to liquidate the physical into a market with less buyers when people trade out of the ETF.
ETFs create higher prices on the way up, and lower prices on the way down.
*gasp!!! A disagreeing point!!*
Junk him mommy, before I cry, or tell Tyler on him!!! Wahhhh!!!!
Your assertion that GLD has physical is groundless. If they had physical, they wouldn't be shy about being audited. The price of GLD (and paper gold generally) will plummet when more people wake up to the fact that GLD is a ponzi shell, but this will not persuade people who possess physical to offload.
Anybody else see what Platinum just did?! Good form! Shit is about to hit ladies and gentlemen. Get ready for next tuesday, that will be the big day! The interesting thing is that it all hinges on what they can get out of oil. There will be no point going to the moon if they can not get off the ground. Plan B means peak oil is here and there will be negative growth from here on out. Plan B also means gold is the next bubble. Plan A, then you get one more bubble.
I can see Nouriel in 2012 now, "Hollywood is in a bauble."
Mr LH, What happens next Tuesday?
The first congressional hearing on the Hollywood Futures Index. The Fed also opens swaps to liquidate some of their holdings that day. These will be smoke signals as to their plans. They will repeat the moves at the end of the month, June 28th- second and final HFI hearing and another swap.
Keiser will be so proud.
Goldmoney has just passed $1 billion in total asset holdings too.
Ex-Euro funds..?
Don't worry, be happy...
The U.S. mint has run out of "blanks" again for the umteenth time after demand for the month of May set records.
For those of you reading this who are clients of the Gartman Letter, blanks are not the "molds" used to stamp the metal into coins, blanks are the coin shaped slug of metal that gives value to the coin. These blanks can be stamped into Kruggerands, Maple Leafs, Eagles, or even "Mickey Mousters" and have roughly the same value in the market place. The point here is that the U.S. mint adds very little value by stamping Gold into beautiful coins, it is the fact that they consist of Gold that creates value.
But I don't get it, if Gold is so plentiful then why does the mint have a problem with the supply of blanks?
All they have to do is print up a few of those "oh so scarce" Dollars and presto, blanks will fall from the sky onto their conveyor belt!
Maybe Mr. Gartman meant that The Treasury was having a problem creating the Dollars necessary to buy the raw Gold for the blanks. Maybe this is happening because of a cotton shortage which has spilled over to the Treasury's creation of "blank" sheets of paper?
That must be it, the "blank" shortage has been caused by a poor cotton crop!
Day after day CNBC is parading "experts" who are bullish on everything and just as oblivious. I don't mean to insult these people because I am sure most of them have high Dollar educations that cost multiples of mine and are surely more "plugged in" than I am.
With all of the bullish prognostications and assertions, virtually NO ONE has scratched the surface of the real problem, the money is bad, EVERYWHERE!
You can be an absolute genius brainchild with computer models that use PE ratio's, book value, dividend yield vs.Treasuries, money supply, etc. etc. that may point to stocks and the economy growing but all of these models will be wrong if the basic premise or foundation is wrong.
In other words, "garbage in garbage out".
We are on the cusp of the entire world figuring out that EVERYTHING that we have learned, lived with and believed in for the last 40+ years was based not only on flawed logic but on an outright fraud.
That's right, all paper money that uses Dollars as so called reserves are frauds simply because the Dollar is a fraud.
234 years ago our forefathers had more knowledge of "money" than exists today even though current "analysts" should benefit from the knowledge of history and just plain intellectual progress, they clearly have not. We are finally at the point where the fraud will be exposed if for no other reason than the negative effects of compounding interest that is PAYABLE!
This is what has happened plain and simple, as more and more debt was taken on by politicians bucking for re election, the amount of interest payable grew and compounded year after year.
The amount of interest compounded to the point where it could never be paid back in current values and we're not even talking the original principal here!
And this is where we stand today, sovereign bankruptcies are waiting in the wings yet the average citizen and intellectual clown that gets airtime on CNBC can't make the connection between mass sovereign bankruptcies and their currencies imploding to the point of no value.
There are few if any currencies that will survive in their current form yet we are told "don't worry be happy".
Don't worry, the current currency crisis will not affect the U.S. and in fact is a good thing?!
There is one advantage to being oblivious, everything is good until you get "hit upside the head"!
Regards, Bill H.
The question is, how long can extend and pretend last?
And unfortunately ... it seems that it can go on for quite a while. I believe the following has to occur before the shell-game economy ends:
1) 50% Unemployment coupled with severe austerity in the United States will bring increased criticism of the Federal Reserve System.
2) Deficit hawks will grow lowder and Congress will become the focal point of protests, for lacking the political will to oversee the Fed.
3) A change in government, either by violent uprising or democratic change will strip the Federal Reserve of it's ability to "print" money.
In the meantime ... eat,drink and be merry. For tomorrow the economy dies.
"But I don't get it, if Gold is so plentiful then why does the mint have a problem with the supply of blanks? All they have to do is print up a few of those "oh so scarce" Dollars and presto, blanks will fall from the sky onto their conveyor belt!"
You're an idiot. Read http://goldchat.blogspot.com/2009/01/why-are-there-not-enough-coins.html: "Blank manufacturing, in the trade parlance, involves melting, casting, rolling, cutting out of the blanks (blanking), annealing and various surface treatment processes. It is a far more involved and “messy” process than minting. It is Ed’s view that while there may be enough presses (once converted) in the world to stamp out gold coins there is simply not enough gold blank manufacturing capacity in the world to meet the current demand levels."
Wow, you don't see the sarcasm in his statement?
I don't read it that way, when he says " to buy the raw Gold for the blanks" he is confusing a production capacity limitation for blank production (which the US Mint does not do inhouse but sources from outside suppliers) with a shortage of raw Gold. The US Mint is captive to its blank suppliers, which is why it will continue to have problems making bullion coins anytime there is increased demand, no matter if there is plenty of raw gold available.
All that may very well be true, Bron, and yet do you ever ask yourself WHY the world is presently seeing "the current demand levels"?
I have noticed that cruise ship passengers do not suddenly start putting on their lifevests in the middle of a calm sunny afternoon.
But all guys wear condoms all the time...just in case.
Gold coins are like condoms. You always have some, just in case. But now it's best to have a whole bunch because we're going to get fucked from all sides by a mob of syphilitic banksters.
The strength of an analogy is in its corresponding points of similarity between the compared ideas. Yours is superb!
do you ever ask yourself WHY the world is presently seeing "the current demand levels"?
1. Speculation in ETFs trading gold.
2. Speculation from retail investors patronizing 80 bajillion gold companies on the Fox News channel, Zerohedge, and everywhere else due to their lack of knowledge about the business cycle and the function of currency.
Would any of the latter mirror your own obvious lack of knowledge of monetary history as it relates to gold, and the historically demonstrable, inevitable and catastrophic failure of every fiat currency?
To paraphrase a rather old Middle Eastern text, Why beholdest thou the business cycle in thy brother's eye, and not the financial and monetary paradigm shifts in thine own?
You want to talk the history of gold?
Sure. It goes into a bubble every time there is a bad recession. Then the retail investors get killed as the price plummets.
Voila. The history of gold. History repeats itself. Think 1980.
Wow. And here I thought you were going to reply with your usual sarcasm and simplistic rhetoric!
(insert derision and contempt here)
This time its different. :) The 1980 plummet had a lot to do with Volker raising interest rates through the roof. I told myself that if I saw the Fed raise interest rates up near 10% (Volker was up near 20%) that I would sell my gold.
BS can't raise interest rates to 10% now. Thats why this is different to me. Politicians can't stop spending and the Fed can't handle deflation. Feedback loop is starting to make a high pitched squeal.
Wiki: Johnny Bravo revolves around a muscular beefcake blond young man with black sunglasses and shirt, blue jeans, a pompadour hairstyle and Elvis Presley-like tone of voice personality. Plots typically resolve around him trying to get a woman, that he has targeted throughout the episode, to fall in love with him. He is often beat up or stunned by his target or companions, or gets ditched by them in the end. Due to his narcissistic and dim-witted traits he tends to be attracted to any woman.
As part of my role at the Perth Mint, that is one question I am very focused on. I am also very interested in what investors' behaviour will be post-bubble - how many will sell, how many will hold on. However, unlike this fellow http://www.zerohedge.com/article/gold-holdings-gld-surge-all-time-record... we also consider the scenario that there will be no bubble bust, this time the fiat/debt bubble will not be able to be reflated and that people will not be selling their gold for fiat but be looking to make use of it.
If dollars are so worthless, I will gladly take all of yours.
By the way, dollar price in November = 74. What's it today? 87 or 88 or something?
Gold price in November = 1220.
Gold price today = 1205.whatever
Which asset has appreciated more since November?
Also, my offer stands to take any "worthless" dollars off your hands. I will use them, since you obviously cannot.
You do realize that the USDX measures the dollar against other fiat currencies, right? It's meaningless, to stay competitive all other currencies must eventually devalue along with the dollar.
Also, you do realize that since the FRN's (Federal Reserve Note AKA US dollar) inception in 1913, it has depreciated around 98%?
The third problem here is that you think gold is only a commodity.
You sir, are a troll.
And you, sir, have just satisfied the troll's objective. His goal is to work the readers into a froth. You are feeding the beast.
lol, sir
I'm not trying to shit stir but come on. I can argue this anyway I want. For instance. Housing inventories hit an all time high before........
Keep watching TV you dimwit. Too bad they don't advertise for a life so you can get one...or a clue.
Isn't this the way of zerohedge?
It's why I don't come here as much as I used to. The quality of posters has seriously deteriorated. It's why I got rid of the MB account, as well.
Informed poster makes a good point about there being more gold commercials than housing refi commercials in 2006.
Insult, insult, get a life, troll, nothing substantive.
Goled to 50000 bitchez, cause the United States is Zimbabwe, dollars are worthless, yada yada, Glenn Beck, United States will die tomorrow, canned hamz under the porch yo.
Rebuttal with 50000 reasons why gold is overvalued.
Insult, insult, poor grammar, I'm retarded, *junks post*
*Yawn.*
I thought you lost your password. Now you have a new reason for why you got rid of the account.
You are a super hero Master Bates. Let me show you which one.
http://www.youtube.com/watch?v=bKn0l2EtFAk
I changed my password, to something I did not know, because I intended to not post here anymore. The people used to be a lot smarter in the threads.
Now it's illiterate people insulting anybody with an opposing point of view, while making up Glenn Beck style conspiracies about why gold isn't 90 million dollars an ounce.
As for the link, sorry, I don't click on links that I am unsure of.
You used to be a lot smarter in the threads too. But you kept getting beat so you went full retard.
I must have missed that stage, as I have only been witness to his full-retard mode.
And I still haven't seen you post one substantive thing yet!
Wow!
Now call me Nadler, run along and cry, and maybe you can even tell Tyler on me. Ya fag. LOL
No, I just realized that there's no point arguing with people that don't know anything about anything that do not respond to actual arguments.
I can put up actual arguments, but all I get is
"You're a stupid troll that is paid by Nadler (whoever the fuck that is) to keep morons from buying gold."
Why should I make good arguments when I don't get any from anyone?
I could post about the economic and business cycles, but it'd just be met with conspiracy theories and insults. There's no point. It's not read.
I'd rather just post smart assed comments making fun of the illiterate and less intelligent among the posters here.
And that, in summation, is the very definition of the internet troll.
I hope you are doing as well in your putative studies as you are in pointlessly annoying and pissing people off here.
That's like saying why should I bother dancing good when I jump on peoples toes and bang them with my flailing arms and they just kick me in the nuts until I slide on my ass across the room. But since you have decended to the very pits of control freaking where you get to characterize and judge everything and everyone. Of course this is not going to make any sense to you.
You never came to a realization of poinioncy. You came to the realization that you can't control perception and simply devolved into a name caller because you are adapting regular tried and trued pimp strategy of trying to break a persons self esteem break their independance and control them. You're just not sensitive enough to know what will actually hurt someone. And you don't understand that the people have to be pre-damaged and unable to heal themselves for those techniques to work.
Basically you slid from the top of the disagreement heiarchy to the very bottom.
http://blackoutisthenewpink.files.wordpress.com/2009/08/disagreement-hie...
Responding to tone is the highest form of attack you can muster at this juncture in the fight and I've noticed you compulsively do it very often lately. But don't kid yourself Johnny. I know who I'm talking to at the most important levels. And it's really better that you stay just being annoying and feeling out of control. You're dealing with people who are too confident in thier understandings because they are to aware of too many things and maybe have too much experience for you to handle. At some point you'll realize that declaring your own genius and calling everyone else less intelligent and illiterate just won't work. Then you'll have to come to the next realization.
JB here's one argument for gold. Suppose you're a European and the euro is at $1.50. You decide that there is more downside risk for the euro than upside potential, so you buy gold at that point. This would be end of Nov 2009 when the price of gold in euros was 875 per ounce. Now the euro is about $1.20 and gold is at 1000 euros. So the euro has dropped 20% and gold in euros has risen 14%. Not perfect, but a reasonable hedge. Note that the euro and gold have been going in opposite directions since Jan 2010, so it's reasonable for Europeans to hold gold when the direction for the euro is more likely down than up. Of course you could say that it would be more profitable to buy dollars, but how can the average Hervé do that?
Can you tell me why this is a bad argument?
Do you really think you will get a cogent argument? That's not the troll way.
I'll answer for him: "Shit! You're probably right. I'm going out right now and buy some gold, just as an offset to my other investments."
That would be a reasonable response but you won't get that here from this JB troll.
jory as nations in europe russia china adapt gold as a backing for currencies ... your job as a clown will come to an end .
you may want to take up the cause of manure and horses asses
*yawn*
If this happens, when this happens, if and when, ifs and buts, candy and nuts
horses ass, clown, troll, yada yada.
Goled to 90000 because a gold salesman told me so.
Oh look, there's ads for gold on both sides of the page...
looks like you just got in from your pizza route
out of work ,
you may want to check out a local starbucks .. they ae looking for back up . dish washers ,,
what will be your story in 6 months with gold pushing 1500,,
you may need a new clown costume , complete with
a size 18 hat ,, to eat,,
but by then your MO will have changed ,, as your unemployment checks ae stopped. and the guy begging on the street is a 30 year old freash out of community college .. still looking for work.
^^ PWND
You see people buying gold? No, selling. People are selling their jewlry. Selling Jory.....fn selling......
"I can't wait to get some more fiat money, because I'm going to buy X physical next week! Fiat money is worthless!"
Yeah, nobody is buying gold. That's why the price is rising. Nobody's buying it though. It's just "manipulated" right? Somehow, all the banks manipulate it downward, and the price goes up still.
Yet, nobody is buying it.
Did you happen to notice you're posting an article about GLD having to take delivery of more gold because of demand?
It must be because people are selling it...
exactly who are all the sellers selling to if nobody's buying? if your implied scenario were really the case, then we'd have a major breakout down to ... $0 ... that is, if nobody was buying. exaggerated, yes, but witness flash-crash May 6 for something more like what it would look like. not there yet.
clearly, the interest generally indicates current price direction, but... the powers-that-be can certainly move a low-volume market for periods of time. and comparing a current price to a market spike is silly. compare today to a 30 year moving average and ... it's not quite so insane as you'd like it to appear.
re: the cash for gold ads - when you can afford the ads and can sucker thousands of sheeple out of their junk at a 50% premium, and continuously make money, maybe the gold sellers aren't the smart ones... those ads would be long-goone if they weren't turning suckers into $$$. the conspiracy theory suggests that the cash-for-gold folks are actually the gob-min'ts restocking their missing supplies. better than tungsten, i suppose...
BTW, you can't convert GLD to physical unless you are LBMA approved and can manage multi-pound ingots... not quite like some of the bullion vaults, so just walking down and getting it is not so trivial for most. i don't think most of the gold is there anyway.
That makes absolutely no sense whatsoever. Are you retarded? You do realize that for somebody to be able to sell gold, someone else has to buy it, right? Maybe it's the clueless bastards scrambling for cash to pay their bills that are selling, and the smart investors who are buying? Could that be a possibility?
Jory = JohnnyBravo = Automatic "Flag as Junk"
= Master Bates.....
Again jory, please, cogent comments please.
First, you're wrong. Can't you tell the difference between writing styles?
Look, I already HAVE an account. Why would I need another one?
I already told you that I'm MB. I'm not whoever that is. I'd bet that that guy is the other anti-gold poster that disappeared. I forgot his name, but that guy wasn't me either.
He was funny though, and so is this fella.
agreed, i sign in and search them out and junk them
= I follow the crowd and junk anybody that disagrees with me because I'm obviously retarded.
Cheeky is my hero! Gold to 50000 bajillion next June!
Oh wait, it's June...
You shouldn't make accusations that are untrue without proof. Our posting styles are obviously dissimilar.
Next, as usual, you add nothing substantive except for *junk anybody that disagrees with my *lack of* arguments.*
"Jory = JohnnyBravo = Automatic "Flag as Junk"
Not even worth that effort; MB if you have a bot...
I've never even seen you before, and yet you talk about me.
I don't understand your post. I guess I just speak American English.
First, a semicolon joins two independent clauses. Neither is an independent clause, and the second part of your post doesn't even make sense
" MB if you have a bot..."
Ummm yeah. It feels good to see the people that are junking me are obviously not the happy meal with all the fries inside.
"I changed my password, to something I did not know, because I intended to not post here anymore."
...
I went to the grocery store and tried to by a six of Coors with Euros. I guess Euros aren't money, either.
Who is going to buy GLD when its Sheeple holders want to sell? Oh please God, just let one more Dummy buy this hunk of metal from me that I don't want anymore. LMFAO!!!!!!!!
GLD is not gold.
Nordstroms is wondering if you plan on living in the changing room. If so, they would like to collect rent; they need some income since nobody is buying wrinkle free khakis at the moment.
This may be the game. Start dumping GLD. Then the price of paper gold plummets. Sheeple panic and sell their physical gold, which the wolves buy up. GLD is then exposed a fraud, and physical gold (all held by the wolves) goes to Mars and beyond. The sheeple panic to buy it, but there is none to buy.
www.Gold-Silver.US
Yeah, or the fall in gold can just be the normal cycle of markets, which go up and down from time to time...
I guess that an elaborate conspiracy theory that you thought of is much more probable though, right?
jory you age ,, 15 .. ,, out of zit cream
a little log in a small pond of sewage ,
trying to push a load of spit up hill .
best to go back to your job at the savage rendering plant. washing out the returning trucks ,
you know nothing about gold. or even whats happining in the world .
best to shove your nickles in the plaster piggy jar,, for a treat next week
Hey look, more grammatically incorrect, mispelled insults!
Wow, you said he needs zit cream. Haven't heard THAT one from you before.
Well, just having come back from the latest Peace Flotilla thread (my first comment was junked off (20 x)), I am now back here in the tranquility of a gold thread.
jory and Bravo have changed nothing.
Gold is the BEST diversification there is if you do not own any.
How many junks does it take for a forum ban? Trolls have taken over this thread.
He is diluting the GLD with real gold, backwards dilution.
How would he turn this into dilution of gold, is he going to have a new offering of shares? I believe you have to have a certain amount of GLD shares to be able to demand delivery (I read that its around 11M if thats true not too many people are prepared to hold that amount where it would be safe).
GLD is absolutely horseshit. If they alledgedly bot 80 tonnes of gold that would have had a profound affect on the price. What has happened over the last two weeks? Nada. (Today's $15 drop was the usual bullshit that comes along with jobs Friday). I would love to see a full audit of GLD. I have been buying GTU and CEF, those I know are audited.
They've been buying gold futures each time that somebody buys into their fund, settling at regular dates.
Therefore, the delivery of all the physical has already been paid for over time, and would account for the recent run ups in the price of gold, before it dropped to 1205 from 1250.
You can surely check GLD's financial statements at any time you wish. If you know anything about auditing, why not audit them yourself?
My brotha'! You are a toon Coon. I'm the real deal, fur and all.
Here is my response to ole JB / MB:
Angry raccoon!
That WSJ article really harped on the "you can't smoke it" anecdote... But actually, you CAN smoke gold when its in ETF form... Bingo. There's your demand!
You are correct. GLD has been causing demand for gold, which has driven the price up artificially.
This whole gold thing is weird. The tin foil economic apocalypse brigade seem to think it is a certain bet, and anyone attacking gold is part of an establishment conspiracy to keep them down. Well guess what. It's not a sure thing - it's a risky trade like any other. Maybe it'll pay off and maybe it won't. Why is that so hard to accept?
b/c there is a gross widespread ignorance to how our system of debt -> new money. People don't understand the rich monetary history silver and gold have. Nobody understands gold is not an "investment". It won't yield anything. It's a real tangible item that cannot have it's supply artificially increased easily. But what gives it value you ask? ....the fact that everyone KNOWS it's rare.
unfuckingbelievable the ignorance about gold/silver. "you can't eat it or use it at the grocery store!!1!!11oneonebbqwtf!"
gold is not trade
of course someone with blinders on . may miss whats going on in the world
as nations switch to gold back currencies ... as they now are in the process of doing . that will make the price of gold go down ,, of course lol
somehow the little know it all's know nothing about whats happening ... and depend on a rigorous understanding of plain vanilla wrapping
You call us little know it alls. Your post speaks for itself.
If and when, someday, somehow...
Also, if young people know less than old people - why did old people drive the United States off of a cliff when they were in charge of it?
I'm just saying... it's been the baby boomers in charge for at least 20 years now. Not my generation...
Look what's happened since.
Your incessant, mean-spirited, shallow and illogical trolling of this forum is indicative of a obsessive, misanthropic, and psychologically disturbed mind.
LOL. Who is mean spirited? I don't tell people to get their zit cream in every post.
Only the people that I disagree with are delusional.
Gold to 50000? Really? Ummm.... yeah, Mr. Gold Salesman.
So what if I come here when I'm bored for an hour or so?
Delusions are more indicative of psychological illness than making fun of retarded people on the internet for an hour a day...
where exactly do you see the evidence of nations switching to gold backed currencies? one would be talking about a 1 for 1 equality of gold reserves to money supply, right? all the gold ever mined is worth something on the order of $6 trillion. prior to the explosion in money supply over the last two years, the monetary aggregate of most of the world was estimated at $60 trillion. how again does making currencies gold backed reduce the price of gold?
to find out about nations goimg with a goldbacked currency..zit heads ,, needs to be informed ,
and their is more than enough gold .. as this demand will then drive up the price of gold .. until it reaches the point of covering the liabilities of the nations ,
you may want to read
http://news.goldseek.com/GoldenJackass/1275508800.php
or follow the ravings of an unemployed 30 year old
and as far as age ,, most of the damage in the economy has been fostered by 20 something computer geeks ,, with twisted mindsets ,, as the run the black boxes and algorithms destroying legitimate trading .
and providing the large banks access to front running , and naked shorts .
Jeff, I can see that you are a reasonable fella. And your question is reasonable. The backing of currency with gold is in assorted reports and news stories -- not as the title necessarily but in the sub-text. Knowing the history of money/gold is vital in seeing the move. There are many sources for this information but it has been dealt with many times on other ZH posts. Just ask yourself these questions: Why do central banks hold gold as a vital part of their assets? Why does the IMF use gold in international transactions? Why does anyone care about the "price" of gold? Why the fervor in discussions, both pro and con? The mere fact that gold is in any conversation must tell you something. Gold is an indicator of safety and security. That is its highest and best use. It's a barometer. And, incidentally, it meets all the criteria for the definition of money. I'll leave it to others to point you to the specific links for study.
tpbeta, you need to pull your head out of your ass.
Then you can wipe it with your GLD.
That little voice in your head isn't schizophrenia - it's your common sense telling you that your gold gamble might just go pear shaped. Hope you're hedging.
I think how you feel about gold depends on when you bought it. I expect many of the goldbugs bought their gold under $600, so they are feeling quite happy and justified. Furthermore, buy and hold turned out to be the best move for those people, or even buying as the price rose. I remember waiting too long back in the 80's when gold had come off its peak of $850/oz. I bought in at $400 only to watch it decline to $250 before I finally got out. I remember thinking that the best time to buy gold was when everyone was thinking that we would have extreme inflation (remember Howard Ruff?) and not when we actually have inflation. Probably the same now. The important point from a fundamental point of view is to buy when people expect some version of Armageddon, even if the actual probability of that is close to zero. Myself, I just use it as a trading vehicle and try to profit from the short term swings. GLD would make as good a trading vehicle as any, though would not be an appropriate form of disaster insurance due to what I and others perceive to be its inherent dishonesty.
Now THAT is a reasoned and valid point of view. It points up the fact that experience and education are vital in the proper understanding of exactly what gold is, and what it represents.
double jerk ... you keep watching with that double coke . as the nations of the world buy gold to back up their currencies ,,,as they are doing now
best to think of something new ,, as you are about as out of touch with reality as mr doggy .
I'm going to improve your life substantially, dumpster.
First, sell four or five ounces of gold.
Go to your local community college. Take English 030, then 060, then 090. Eventually you will be at a high school level in American English.
Then, you can finally make bank as a market investment oracle and ditch the trailer. See? I provide solutions.
work on you own life
first get a job.
as far as english level ,, take that to your local job market , and run circles around those that give a shit
any one with zero assets , zero experence and still in puberty should have more on the resume than good english, and telling every one of your work as stand by pizza driver .
the dumpster will just hack away ,,
but content that his life experience sans the big mouth of a educated out of work wanna be .
lets make a bet ,, when gold goes to 800 and stays their as per your rantings . dumpster will deposit 800 real 100s by mail to your YMCA room. a real winner
but in the same token when gold hits 1400 fat chance . will give you the address of my business with particulars web site etc. send the oz of gold there and we can see whos blowing a lot of wind.
but when this year comes to a close johnny bravo will morph into mr sling blade. and blabber in some quite place for fools . and low level asst night mgr at a local wendys . speaking and writing choice spoken english .
that will impress the night watchman for sure .
The Sling Blade reference was priceless!
Reload Original"I'll sit back with a martini and enjoy the show as the "safe haven" investment goes badly awry."
You and Johnny Bravo write very similarly, except you are a little sloppier....which is also telling. Also, the only thing that separates you two from Harr is that he NEVER gets angry, which is also telling. Ok, tin hat off.
+ 1 Mr Lennon.
Wow, I just came back from the Peace Flotilla thread and got pounded there! Awesomely acrimonius and rancorous. My first post was junked 20 x and I got "disappeared"!
Nows there's a Fight Club! jorys and Bravos ain't squat.
Yeah those Mid East threads are tuff. It's like walking into a mosh pit; don't bring your drink!
I wouldn't say that we write that similarly. At least you acknowledge that there are differences.
Anyone who uses the acronyms: "LMAO," LOL," or "LMFAO" as if they mean something or add some sort of wit to their communications is immediately suspect in my book and exposes themselves as a twenty-something or an older person with an MTV Beach Party complex.
ROTFLMAO.
:^)
Goldbugs will have to learn the hard way"
Oh we've been learning papo, we've been seeing our gold holdings double in price.
Troll on Nadler!
The thing is, Jory, Dumpster is right. Nations' central banks are buying gold at high prices after decades of dumping it. Why? And please limit yourself to one exclamation point per "LMMFAO." It's just gauche.
Remember when central banks such as the Idiot Brits were selling gold? That was the time to Buy Gold. Now that central banks are Buying Gold, it's time to Sell Gold. Central Banks are Dumb Money.
LMFAO!!!
Don't you think maybe an entity that can produce creditmoney out of thin air might, just might, dump gold at a loss at an opportune time to prop up its creditmoney?
Don't you think maybe an entity that can produce creditmoney out of thin air might, just might, dump gold at a loss at an opportune time to prop up its creditmoney?
and as they dump any amount of gold ,, do you not think that the chinas the russians and the assorted currency play will be buying to shore up the buying power ..arron
it has not gold to dump just paper , , yes they have been doing that all the way up to gold 1220 .
sometime these shorts of gold will have to produce the gold .. as the world keeps buying ,
and thats the rock and the hard place
Well, at least the last two sentences made sense.
Since when does a short ever have to purchase a physical commodity? If they're shorting in GLD paper, they can buy paper GLD to cover.
Uh I forgot to tell you it was just a gold plated fund. It was in the fine print.
GDX....
Im starting to believe a bit more in the physical backing of GLD..
A friend from Horizons Betapro (Canadian ETFs) told me that they actively manage their commodity contract rolls, whenever there is a need for re-balancing (so, always) for the PM-backed ETFs, they deal with futures for delivery or simply keep rolling them over.
So you guys questioning how on earth Gold FELL today well, obviously gold itself wouldnt rise right TODAY when this particular news is released to us folk but it would have been rising over the period of delivery of previous contracts (which is in line with our thesis here).
Oh shit what is Asia doing??? Selling??? Hmmm....