Gold Reaches New Record High - News Barely Reported By Mainstream Media

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Wed, 03/02/2011 - 09:38 | 1010788 FoieGras
FoieGras's picture

Of course it is not reported by the mainstream media. Just like record lows in 1998/1999 were not reported when people couldn't get enough of headlines with CSCO and INTC in them.

Making new highs or new lows, Gold is pretty much irrelevant to the Average Joe.

Like Livermore said: People don't want to hear about a bull market or a bear market. They want to know about a specific stock tip.


Wed, 03/02/2011 - 09:38 | 1010797 NewThor
NewThor's picture

Ben Bernanke is the reverse King Midas.

Wed, 03/02/2011 - 09:42 | 1010810 Oh regional Indian
Oh regional Indian's picture

You mean Sadim Gnik?


Wed, 03/02/2011 - 09:48 | 1010829 NewThor
NewThor's picture

Sadim Gnik! Everything he touches turns to paper!

What did the Joker say?

"It's not about the money. It's about sending a message.

Everything burns." 

Everything, except Bankers.

Wed, 03/02/2011 - 09:51 | 1010842 Oh regional Indian
Oh regional Indian's picture

haaah! very good. Very good indeed NewThor.


Wed, 03/02/2011 - 10:25 | 1010955 HellFish
HellFish's picture

Bankers will burn.  You just have to hang them up and dry them out first.

Wed, 03/02/2011 - 11:28 | 1011195 Red Neck Repugnicant
Red Neck Repugnicant's picture

The fact that gold "almost" made a new high today is completely irrelevant, except to all the perma-goofy libertarian rednecks who moronically worship it.  You goofy bozos treat gold like Lex Luther treats Kryptonite; if you supposedly collect enough of it, you might defeat Superman, the government, the plutocrats or whatever ghostly nemesis you're obsessed with today.  

Goofy cuckoo birds....

Gold has been making new highs for the past 7 or 8 years.  Big deal.  So has Apple, and a thousand other equities.  The only difference is that holding Apple would have made you far wealthier than holding gold.  

But, of course, Apple is far too modern for libertarian rednecks who want to reverse the dial of time, and return America to a permanent Gunsmoke Halloween party.  

Coins/Cans/Camaros/Conservatives/Time Machines/Goofballs 2012 

Wed, 03/02/2011 - 11:49 | 1011281 tmosley
tmosley's picture

Fuck off.

Wed, 03/02/2011 - 12:12 | 1011398 ForWhomTheTollBuilds
ForWhomTheTollBuilds's picture

+1437.  nuff said

Wed, 03/02/2011 - 12:58 | 1011408 GoinFawr
GoinFawr's picture

Hehe, 'Lex Luther' and kryptonite ref. not too bad, worth a chuckle, despite being on the 'wrong side of the trade' as far as who the good guys are.

Gold's advocates are really the opposite of Luddites though, they want to evolve not devolve, and while many might shun bitz of AApl flavoured paper (except as a means to accumulating oz's of real, no counter party risk, wealth), Ibet some still have some Istuff, ie they embrace new technology's tools, not it's sickly CEO;  not to mention the jury is still out on who will win the 'outperformance' war, Imho. Remember: an Iplod without silver is like a body without a circulatory system.

But please keep posting your delusions, they are at least more entertaining than most!


Wed, 03/02/2011 - 10:23 | 1010947 Arthor Bearing
Wed, 03/02/2011 - 10:13 | 1010921 jus_lite_reading
jus_lite_reading's picture

Things are heating up, once again. Gaddafi is "very upset" that the US and NATO are invading his country.

Funny that we always go and fight on the pretense of "helping people" when we are only halping ourselves. We can't have Germany, which imports vast amounts of oil from Libya, to slow production of their exports now...

The ALMIGHTY DOLLAR is God to these people but little do they know, their end is a self-fulfilling prophecy. Dr. Deficit is sweating this one out.

Wed, 03/02/2011 - 12:10 | 1011392 FeralSerf
FeralSerf's picture

There's an Anglo-American colonial empire to protect.  The sun never sets on it.

Wed, 03/02/2011 - 09:36 | 1010789 TeMpTeK
TeMpTeK's picture

Cramer makes case for $6k gold...

Wed, 03/02/2011 - 09:40 | 1010805 snowball777
snowball777's picture

Cramer can go suck a bag of dicks.

Wed, 03/02/2011 - 09:44 | 1010816 Confused
Confused's picture

Thanks for the laugh. 

Wed, 03/02/2011 - 09:45 | 1010822 Cognitive Dissonance
Cognitive Dissonance's picture

Candid camera shot of Cramer.


Wed, 03/02/2011 - 10:27 | 1010966 -Michelle-
-Michelle-'s picture

Whoa.  That's kind of disturbing.  I need more coffee now.

Wed, 03/02/2011 - 16:47 | 1012673 akak
akak's picture

Cramer can go suck a bag of dicks.

Isn't that exactly what that meth-addicted, ADD-afflicted former GoldSachs-ite does every day on his "Had Money" show on CNBC?  I loathe having that shrill Wall Street-pimping clown on the TV for even five seconds, but even trying to avoid him at all costs I still cannot count the number of times I have seen and heard him metaphorically kneel down and gleefully suck Bernanke's, Dimon's, Blankfeins's and Geithner's syphilitic and withered little peni.  Somewhere out there, there is a bullet with Jim Cramer's name on it, and it is not getting to its target nearly fast enough.

Wed, 03/02/2011 - 10:05 | 1010888 kalum
kalum's picture

This above all worries me. Such a contrarian indicator

Wed, 03/02/2011 - 14:49 | 1012183 pslater
pslater's picture

It would mean something as a contrarian indicator if any one watched Cramer anymore....

Wed, 03/02/2011 - 09:36 | 1010790 Twindrives
Twindrives's picture

Thanks Ben!

Wed, 03/02/2011 - 09:37 | 1010793 themosmitsos
themosmitsos's picture

$1500 will get their attention

Wed, 03/02/2011 - 09:42 | 1010814 Cognitive Dissonance
Cognitive Dissonance's picture

$1500 will get their attention

MSM - "It's alive, it's alive."


Wed, 03/02/2011 - 09:39 | 1010798 Cognitive Dissonance
Cognitive Dissonance's picture

What's that? Gold at new highs? Funny, but I didn't see that on the morning news.

Must be a glitch in the (news) Matrix.

Wed, 03/02/2011 - 09:44 | 1010818 Cash_is_Trash
Cash_is_Trash's picture


Do you think we should help our fellow retard (I mean man), regarding their ignorance to the fiat system?

Someone quoted from The Matrix that those plugged into the system are so helplessly dependant on it and will even fight to protect it; therefore they remain angered at those outside it.

I think that their ignorance is too great to be repaired, but as we need the most people as possible to form a new government and currency regime once the current one crashes, I cannot help but thinking we need to educate Joe Sixpack.

Wed, 03/02/2011 - 09:47 | 1010828 Confused
Confused's picture

Of course you need to help educate others. Someone told you didn't they? Sure its possible that you have always been aware, but highly unlikely. Something woke you from your sleep. Now its your turn to help someone do the same. 

Wed, 03/02/2011 - 10:00 | 1010869 snowball777
snowball777's picture

This will sound incredibly trite, but I learned this stuff in junior high school. We had a chunk of the year set aside to teach us about finance where we learned a bit of micro econ and some high-level macro essentials. Then we did mock trading where we were all given a chunk of imaginary fiat to build a portfolio so that we learned about things like markets, commodity exchanges, bonds, and equities and tracked its progress over time.

You can't have efficient markets if the people participating in them have no idea how they're supposed to function.

Wed, 03/02/2011 - 10:21 | 1010942 Confused
Confused's picture

Oh, so that is where you learned all about fractional reserve banking. Bullshit.


Your teacher certainly didn't understand it. Not to say that didn't lay the foundation for you. But just because you have the knowledge doesn't mean it shouldn't be shared for the benefit of all. 

Wed, 03/02/2011 - 10:40 | 1011014 snowball777
snowball777's picture

We did cover the basics of the velocity of money and were aware that the bank doesn't have a stack of bills matching our account values. They didn't go into credit bubbles or endogenous money theory, but we were aware of bank runs and the monetary base. Perhaps if they had painted bankers as greedy shylocks instead of providers of a useful service to society, we wouldn't be in this mess. Too late to turn back the clock now.

Wed, 03/02/2011 - 10:47 | 1011036 Confused
Confused's picture

Fair. In NY we took a basic economics class as part of our high school curriculum. But far from perfect. Which goes back to my original statement. That is NOT the point at which you realized the problems that might be inherent in the system. It was this knowledge combined with what you learned after the fact that has formed your current opinions. And its this knowledge that should be passed on. 

Wed, 03/02/2011 - 11:06 | 1011108 snowball777
snowball777's picture

I guess my point is that it's difficult to explain the problems in the system if people are never exposed to the framework in which those problems are defined until they're adults. Old dogs, new tricks, and all that jazz.

Wed, 03/02/2011 - 10:24 | 1010949 Cognitive Dissonance
Cognitive Dissonance's picture

Not sure how old (young?) you are, but you are the exception to the rule. People leave college (not to mention high school) not even understanding the power of compound interest or how to manage their checkbook.

Wed, 03/02/2011 - 10:37 | 1011004 snowball777
snowball777's picture

My fake portfolio would have suffered from the '87 crash had I not moved on to high school, but this was a fair to middling CA public school.

I agree the state of affairs with respect to basic finance education is grim. I was engaged to such a person (thankfully, not married) and I'm sure she ended up underwater and foreclosed on as a result, but I think that reinforces my point about the need for education for functioning markets. The "every man for himself", "we need more suckers" approach is a dead end.

Wed, 03/02/2011 - 10:41 | 1011019 Confused
Confused's picture

Agreed. So why so eager to point out that you learned this all in Junior high? That doesn't change the original premise that others need to be educated. 


Wed, 03/02/2011 - 11:05 | 1011099 snowball777
snowball777's picture

It's the 'when' and 'by whom' that's up for debate.

Wed, 03/02/2011 - 13:43 | 1011887 trav7777
trav7777's picture

some people are ineducable.  Piss into the wind for all it's worth

Wed, 03/02/2011 - 10:38 | 1010973 reescher
reescher's picture

I've got my 3.5 year-old daughter investing already. DEO and MCD are where her savings go right now. Whenever I crack a pint of the black stuff I quickly mention the relationship (in relative terms) between the stuff in the can and her stock. When asked about her money she says she's "inwested in stocks". She also enjoys opening the bullion deliveries that show up and inquires as to what they are and why we have them. Says they're bigger than the other coins. Next year, we'll move on to CDS.

Wed, 03/02/2011 - 12:02 | 1011345 dexter_morgan
dexter_morgan's picture

That's awesome. Wish I had done that with my now young adult children.

Wed, 03/02/2011 - 09:49 | 1010835 Cognitive Dissonance
Cognitive Dissonance's picture

I agree and I've been trying. But the toughest life lesson I re-learn on a daily basis is that you can't educate the unwilling. I think Mother Nature might need to push the reset button and let us start all over again.

That is as long as I can keep my new iPhone4. :>)

Wed, 03/02/2011 - 10:00 | 1010867 silvertrain
silvertrain's picture

 I cant remember the author to give the credit but I go by the quote ,

 "hear me now and believe me later"

Wed, 03/02/2011 - 10:00 | 1010877 snowball777
snowball777's picture

"believe me now and hear me later" - Hans unt Franz

Wed, 03/02/2011 - 10:16 | 1010927 Pladizow
Pladizow's picture

I've tried for 2.5 years with no luck to educate friends about PM's and debt and recently gave up.

And these are people in the biz.

It's like turning the lights on when someone is asleep, they rush to cover their eyes and yell at you to turn the lights back off.

Wed, 03/02/2011 - 10:24 | 1010950 High Plains Drifter
High Plains Drifter's picture

I believe its a sign of the times. Most people will never ever wake up no matter what facts you present to them or any other proofs. They simply refuse to listen and never will. This is way most people are. So for me, I went from a evangelistic attitude about it, to wait and see attitude and if they want to know something, they can ask about it, otherwise, I don't care anymore. Its all a learning process even for someone who wakes up. If you attempt to use common sense and say to yourself ,that hey I see this happening and I want to warn my friends......and of course after I warn them they will immediately see what is happening and agree and prepare. This however has not been the case. It is always 3 steps forward and 2 steps back again and again and again and again. It never changes. Therefore this country as we have known it is doomed to fail, just like some of the founding fathers knew all too well.

From the beginning there was a war between good and evil in this country since its inception. That war continues to this day. In the beginning some bought into the freedom and liberty lie and took it seriously and some went along just to get along and some had alternative ideas about what was to happen here. As a young man I was taught that this nation was founded upon judeo Christian principles whatever that means ,never mind that judaism and Christianity are like oil and water and simply do not mix. In the beginning the Chrisian people were here, but also was the enemy here as well. So now as we live in this year of 2011, we look back and we see the great plan coming together for those who want the world as their osyter and we continue to argue daily about this and that. Things are done right before our eyes because now they have control of it all and they simply don't give one good damn what any of the sheeple think. So we begin the dying process and we watch our boob toobs and are entertained and nobody as George Carlin said one time, nobody cares. I came from the neocon and I swam across the rubicon and I will never go back now. I cannot and will not. What is truth is truth and nothing will ever change that. I am now a 3 percenter and damn proud of it.

Wed, 03/02/2011 - 09:38 | 1010799 antidisestablis...
antidisestablishmentarianismishness's picture

Central banks buying gold is bullish? 

Wed, 03/02/2011 - 09:40 | 1010806 Quintus
Quintus's picture

Are you suggesting that it isn't?

Wed, 03/02/2011 - 09:57 | 1010863 SheepDog-One
SheepDog-One's picture

Central banks hoarding gold means the end is near.

Wed, 03/02/2011 - 09:39 | 1010802 Oh regional Indian
Oh regional Indian's picture

A very good time indeed to move some gold into silver.

Gold will fold. it gives governments their credibility.

What when a supranational government needs no credibility at all?

Unless it's for trading with Planet Xers.


Wed, 03/02/2011 - 09:48 | 1010833 snowball777
snowball777's picture

In America, we're often told of the 'melting pot' which, as a metaphor, contains the inherent sense of 'conversion' from an immigrants native culture to some westernized ideal of homogenized banality. I'd like to see us move toward a different analogy of the awesomely diverse salad with myriad ingredients that retain their original flavor and sum up to a greater whole than the constituent parts.

Wed, 03/02/2011 - 09:55 | 1010853 Oh regional Indian
Oh regional Indian's picture

Excellent observation snow. And desire too. Diversity, polarity....that is the stuff of life and creation. 

Beign at the top of a mountain is exhilarating because it is far away from the bottom.


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