As Gold Surges By $30 In Two Days, Dollar 3 Ticks Away From 2010 Lows

Tyler Durden's picture

The good old old green 75% cotton/25% linen combination formerly known as the reserve currency continues shocking everybody with just how worthless it is, because even as the dollar jumped against the Yen, it plunged against the euro, and in the DXY basket the Euro weighting is about 4 times greater than the Yen. Meaning today the dollar will likely take out 2010 lows, and after that 2009, 2008 and so forth. Furthermore, the DXY has plunged in the past two days, just in time to completely neutralize any nominal increase in stocks values. In the meantime, that other hated metal, gold has risen by $30 in the past two days, reminding once again that until the Fed build an alchemist annex it will continue to be the only true store of wealth (and, yes, only true currency).

Today's DXY chart with the blue line showing the 2010 lows:

A two day chart, for those who enjoy pointing out the stock market "relief rally"

A longer-term chart showing what happens next:

And here is why there is no more trendline supprot in the DXY:

And lastly, gold:


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baby_BLYTHE's picture

We're all doomed!

Doomed, I say!

Ron Paul warns of "blood in the streets" post-currency collapse.

He is never wrong, folks.

Dr. Richard Head's picture

I remember the 2008 Pres debates.  At first I liked him because of his war stance. Paid little attention and dismissed the whole "gold" thing.  Partly because it didn't fit into anthing I was ever taught and partially because I just thought the whole idea of gold was nuts.

Then I started looking into the gold piece and the Federal Reserve. 

I haven't been able to turn back since then.  It was an interesting path to travel to reach this point.  A blessing and a curse.  As you put it, "He is never wrong, folks."

baby_BLYTHE's picture

That was me 2. I even heard him speak on my campus where we in the crowd set FRNs on fire!

I have been getting rather FED-Up and discouraged the last several months, however. Although, as Dr. Paul aptly states, "The US Government will change, when the people change".

Even though at this point I predict a Obama win in 2012, I expect Ron to do very well.
Perhaps Ross Perot 2.0?... He+ Huck/Romney + Obama in the final debates, is very possible

Dr. Richard Head's picture

I'm not so sure about an Obama win.  Reading over DailyKoz and other outlets that comprised Obama's base don't seem so lovey dovey over the "peace" president. 

Also, I have noticed many of the Obama stickers that were once on cars of my neighbors, neighbors that campaigned EVERY weekend and most weeknights for Obama, have taken their stickers down from their cars.  While I am not 100% sure of the motivation behind the removal of said stickers, it is interesting turn of the Obama base that I have seen.  Granted, these people would not, as the way things stand now, vote for Dr. Paul either.

Guess we will see who the next puppet-in-chief will be.

Rodent Freikorps's picture

No one can run to the left of Obama. Anyone who does will lose the black vote.

He will be the 2012 nominee. He is evil. He will win. The US is done.

Dr. Richard Head's picture

They could dig up Karl Marx right?  Shit, I'd take Groucho Marks right about now.

GoinFawr's picture

Let me get this straight. As/per you:

The only person, alive or dead, that could be more 'left' than the current POTUS is Karl Marx?


Dr. Richard Head's picture

You don't think Karl Marx is more left than Obama? 

GoinFawr's picture

Heh, well sure, and by a Bill O'Reilly mile too, but that is not the question I asked.

Try again.

Dr. Richard Head's picture

I never quoted him as being the ONLY one, dead or alive, more left than Obama.  It was merely a set up for a stale Groucho joke.  Hey  ohhhhhhhh!!!!!!

Bush was just as left as Obama, so perhaps we could pull Bush back up for another shot. 

GoinFawr's picture

Ahh, a segue, gotcha. You meant 'left' in a sardonic "Free to those who can afford it, very expensive for those who can't" kinda way. Phew. For a moment there I was worried that you've had a ZH account for over a year yet had somehow managed to learn absolutely nothing since. Appy polly logies.

Dr. Richard Head's picture

I appreciate your retort personally.  It caused me to think again about my remarks. Ain't nothing wrong with that. 

We're just building a community here. 

jeff montanye's picture

re obama's support:  there was a new yorker cartoon some months back where some, basically new yorker readers were gathered at a table and one confesses "i put my obama t-shirt in the bottom of the drawer."  the disappearance of the stickers is the same as the "w '04" stickers in '05.  i think, largely because of the economy and his own lack of imagination, moral compass and guts, the guy is toast.  

and don't doubt for a second that these disaffected erstwhile obama supporters can't support ron paul.  i'm proof.

Shameful's picture

Reagan/Nixon 2012.  It's time for America to stop discriminating against the dead and elect a couple of dead presidents to run our nation into the future.  The dead already vote in Chicago and think if the massive voter power of dead could be harnessed.  They have already been rotting in the grave, so they will have experience with America's future.  And no one can question their experience or credentials.  Reagan/Nixon 2012!

jeff montanye's picture

eisenhower/nixon.  but what we really need is: who is the vice presidential running mate for ron paul and is there any way, in the event of paul's election, to avoid a president boehner given the skills and proclivities of the cia, the mossad, the "private sector"...?

Shameful's picture

We could only be so lucky for Barry to run and win again. Think of it this way, would a mainline Republican be any better now or in the future?  No same exact agenda, same controlers, same decsions getting made. Difference being the idiot conservatives would rally behind a member of Red Team. While if Barry gets in those same idiot conservatives will grumble, and per cap they are more heavily armed then idiot liberals. This grumbling will get louder as the economy further deteriorates and the COL rockets due to Zimbabwe Ben.  Also the conservatives a larger % in the armed forces, and I would prefer them to not be happy. In addition new presidents have political capital, a returning Barry would be mostly used up. So a Barry win is a move towards a Soviet style breakup. After all with those idiot conservatives be more likely to saber rattle with a member of the red faction or a member of the blue faction from the Big Gov party?

The future is a dissolution of Union or Stalinist police state, no other way out based on; the entitlement population/demographics, culture, and debts.  Can Barry pull off the gulag state?  Maybe, maybe not.  But a Newt Gingrich has a better chance at it, especially riding a fresh horse.

DosZap's picture

Shame, in normal times, I agree.

But, to be honest, we will not SEE 2012 elections.IMHO.

And that will be planned also.What Clinton wanted, berry will get, at the end of a gun.

As his ole bud Mao stated.

jeff montanye's picture

shame, thanks for the pep talk.  i've felt something of the same: obama's different affiliation, affect and race could give republicans permission to oppose what are, in so many ways, w's policies.  so far not enough but the next two years promise to be eventful and ron paul keeps on keeping on, has finally a little bully pulpit and history looks to be going his way.  godspeed to him and his supporters.


doszap: i am stumped as to what clinton wanted and obeyme will get: the only revolutionary acts of the latter are the elaboration and making bipartisan the national police state of the true revolutionary w.  he's like that part of mao.  but mao didn't leave the capitalists in charge, as i remember.

Temporalist's picture

Probably took the bumper stickers off their cars because homeless were walking up to them and asking for some of that free money for food and shelter and medical care that was promised...or their cars were getting keyed but certainly one of those two.

Dr. Richard Head's picture

I've witnessed people with Obama stickers on their cars getting harassed on the interstate on numerous occassions, so I would think the abuse being suffered by Obamanites would be motivation enough.  Oddly enough, I would like to harass both Obama/Palin/McCain/Bush stickers in the same way, but it goes against me nature.

Larry Darrell's picture

They didn't remove their Obama stickers.

Those stickers just disappeared along with the rest of the car as part of the wonderful Cash for Clunkers program.

Although I was surprised the new cars didn't come with new stickers pre-installed since he touted that massive misallocation of capital as a huge win for Amerika.


DosZap's picture


Its because they do not want to be looked at every red light, and scorned.

That instead of Super Man, they got a Shoeshine boy.

jeff montanye's picture

no.  not a shoeshine boy.  someone on a thread said something like: you are mean to jeffrey dahmer when you call obama a monster.

Bad Asset's picture

I watched him at Northup and I was hooked.  I think Donald Trump will take some of his supporters, as he might be seen as more electable.

Al Gorerhythm's picture

Yes, we all yearn for saviors, in the vain hope of finding that authentic messiah who has the god-like power alleviate us of our responsibilities and absolve us of our sins. Both camps of red/blue thinkers need a gigantic kick in the nuts.

luk427's picture

Peter Schiff, Jim Sinclair and many others have been calling this for a long time now.

duo's picture

time premiums on ITM calls on RJA are very low.  It's the new DAG.

velobabe's picture

but but, wait wait, what is going to happen to the dividends paid by the financial banks. buy backs. the dollar can't be losing ground on this occurrence. it was all planned yesterday afternoon, so the dollar should be saved and rising.

baby_BLYTHE's picture

Speaking of Ron Paul and Campaign for Liberty, anyone catch this?

Council on Foreign Relations: How Should the United States Address Its Chinese Trade Imbalance?


Eswar Prasad, Nandlal P. Tolani Senior Professor of Trade Policy, Cornell University; Former Head of the China Division, International Monetary Fund

Peter Schiff, President and Chief Global Strategist, Euro Pacific Capital

Shang-Jin Wei, N.T. Wang Professor of Chinese Business and Economy, Columbia University; Former Head of the Trade and Investment Division, International Monetary Fund

Joyce Chang, Global Head of Emerging Markets and Credit Research, J.P. Morgan

I donated to Peter's Senate run in 2010, but regret it after this and his inconsistent & buggy PAY-TO-PLAY radio broadcasts.

We are happy for your success, Peter. But Not all of us are worth 100 million!

I, myself, have only around 4k to my name (not counting student loans).

Rodent Freikorps's picture

As democracies go, the US is late on dying. Plan accordingly.

Temporalist's picture

So your point is that because Schiff is speaking to CFR he's now one of them?  Because he's been trying to alert the right people and dissent about the way things have gone and instead speak his mind about how they should go he's bad suddenly?


baby_BLYTHE's picture

No. I still admire and respect Peter. He is just another Politican to me now, though...

Although I am a firm beliver in the majority of NWO conspiracies, the Council on Foreign Relations is rather minor in the grand scheme of things.

So you are correct in saying it is not a really big deal. Just thought it was interesting to see.

Dr. Richard Head's picture

Add Peter's showing up at a Cock Borthers...excuse me...Koch Brothers event and Peter's desire to bomb Iran (with sufficient evidence) and I stopped following him like I used to.  He is spot on indeed, but his head is getting bigger. 

Congressman Ron Paul's humility speaks volumes for me, as I lack that sort of control.

Temporalist's picture

Don't confuse support and desire.

Dr. Richard Head's picture

Hard to tell with Peter.  Was he just trying to wrangle votes from the right and not look soft on nuclear war (Israel excluded of course) or were those his true feelings?  I don't know either way, plus it is moot since he didn't win.  Granted, he would have been much better than whoever else ended up winning.  Some wrestling cunt from my understanding.  Stupid sheeple of CT. 

zaknick's picture

I've always wondered if he's related to those Schiff at the redshield moneygrubbing moneychangers on Frankfurt on Maine.

That and his bomb, bomb Iran joo warmongering and he's SUSPECT

baby_BLYTHE's picture

The thing that really made me suspect of Schiff was when he announced plans for Europac to set up an "offshore base" of operations to service "sophisticated clients".

This is no better than what Goldman Sachs, JP Morgan or any of the TBTFs practice. They don't want to pay US taxes.

Temporalist's picture

Yes the office is in the Carribbean because of their tax structure.  He didn't make the rules he just plays by the ones given.  Don't hate the playa...

Temporalist's picture

Peter Schiff's father Irwin is in jail for tax protest serving 13 plus years in fighting for what he believes:

"In 1968 he testified[4] before the Senate Committee on Banking and Currency in opposition to the removal of gold backing from Federal Reserve Notes. In 1976, he published a book entitled The Biggest Con: How the Government is Fleecing You.[4] Schiff was a candidate for the Libertarian Party presidential nomination in 1996, and he participated in a Libertarian Party debate in Washington on July 5, 1996.[5]"


And your anti-semitic rants do what?

baby_BLYTHE's picture

I love that guy, Irwin Schiff!

America Freedom Fascism is one of the best documentaries ever made! He was in it.

Rusty_Griswold's picture

What types of silver do you buy and what do you pay over spot?

Debtless's picture

10 oz bars - as little over spot as possible...Hans Tulving...+500

Rusty_Griswold's picture

I meant Blythe, but thank you.

baby_BLYTHE's picture

I have only ever used Apmex to purchase my Gold & Silver.

MonsterBox's picture

I like the Maples.  they're about $3 over spot (I think) but are four 9's and readily recognizable.  big plus is they look real good.  i'm pretty sure in a monsterbox (500 coins), the premium is less.

Temporalist's picture

I think the maples are plain, with the head of some dead relic on them, and that extra .0009 isn't worth an extra $1...but then what is a dollar worth anymore anyway.  Better that you're buying Ag than an Android.

Temporalist's picture

Blythe girl stop saying he's never wrong please.  Perhaps if you think there is no evolution you'd agree with him in creationism...Adam and Eve and evil snakes, forbidden apples and 40 days and nights of rain and all that.

I'm fairly certain that RP would tell you himself that he's frequently wrong.

Rusty_Griswold's picture

There are a ton of people on here who are big fans of Ron Paul, but she seems to take it way too far...something doesn't add up.

baby_BLYTHE's picture

Already know about his father being a high-ordered Freemason.

she seems to take it way too far

So the dollar is fine? Ben saved us from a Depression? All this printing and bailing out will have zero cost nor consequence?

I thought we still had to pay for all of that...

I will keep my Gold and Silver. You all can keep your worthless cash. We shall see who stands strongest in the end