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As Gold Surges By $30 In Two Days, Dollar 3 Ticks Away From 2010 Lows
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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Good points and no.
Since we went off the gold std, the dollar has lost 97% of its value.
And for those who keep saying Gold is not Money,you are so wrong, it is the only real money.
Currency, and notes, are debt notes, and are simply used as money, for the benefit of the banksters.
If gold WERE not money, NO Bank would store it period.
More importantly:
Japanese finally admit that radiation leak is serious enough to kill people...
http://www.dailymail.co.uk/news/article-1367684/Nuclear-plant-chief-weep...
The Japanese never do anything randomly. What's the symbolic meaning of a powerful man breaking down and crying in front of the public? Does that mean things are going to get a lot worse and he just fell on his sword in advance?
I don't know his personal motives, but it is clear that the Japanese government has been overwhelmed. Hell, our government appeared overwhelmed by Katrina, and this is a much larger disaster.
The barbarous relic in the house, refusing to be evicted! And like a barbarian, gold's stepping on the chickens of ivory tower academics, and smashing the bond china and slapping around the little lord banksters, guffawing its golden laugh while golden mead dribbles down it's beard
Who cares! You cannot eat gold, but you can eat dollars! And with many more of them coming, I think the Fed has found the answer to world hunger.
Not only that but a solution to the worlds energy needs. Paper, you can burn it. Imagine vast dollar burning energy complexes fueled by Zimbabwe Ben's magic press.
Hell can solve the homeless problem to, paper mache houses. Truly every problem can be solved by the printing press! All hail Zimbabwe Ben!
OT, but Reuters referred to the following website which appears to have on going radiation readings around the plants.
I'd appreciate if those who are knowledgeable about these things would take a look at the data and comment. thanks
http://www.mext.go.jp/english/
And $5bln worth of intervention loses appx 2/5 of it's move already.
I'm going to miss the US. I knew it was a corrupt whore in the 80s when I went off to defend it, but I still had hope.
No more.
I'm going to close things up and be moving to El Salvador, where you can be free.
Don't let the bastards get you down!
It's full of bastards. Some evil but most dumb, lazy or blind.
It's not easy to create the mirage of wealth on the back of inflation if the housing bubble doesn't follow close behind. The Fed continues to paint itself further into a corner. Just by reading the comments on MSM finance sites it is apparent that more folks are beginning to wake up. We're getting closer!
http://www.time.com/time/magazine/article/0,9171,718798,00.html
BTW... they can make gold and I would not be surprised it they are good at it... maybe that is why they are always sgorting it. The above is a Time Magazine article from 1924 discussing a German scientists success in creating gold... the price in 1924 dollars is $132,000 per ounce. who knows... maybe they can now do it cheaper?
DXY can go to 12 today, it won't matter. Blythe, The Bitch, will close it under 1400. Nothing else matters.
the reserve currency continues shocking everybody with just how worthless it is.
The world is in a prisoner's dilemma game, where everyone is a prisoner to the dollar, knowing if they dump the dollar, and everyone else does too, they will all lose everything. But, if they all stoically hold the dollar, all will benefit moderately and fairly. But if one person cheats, and dumps the dollar before the others, then that person will gain the most of anyone, at the expense of the others.
What will happen?
http://en.wikipedia.org/wiki/Prisoner's_dilemma
truont,
the reason (IMHO) that it hasn't hit yet, is fear.
Whats the alternative to those holding FRN's, and are too stupid to use them to buy PM's or other hard assets?.
You can convert physical to any currency on the globe, why wait to be last in line?.
Being first at the finish line has always been the winner.
x
x
All of you tards saying gold hasn't performed well aren't paying attention. It's used as a store of wealth and in theory protects against inflation. It isn't used to make money, just a protection from losing money in the back asswards market run by Brokeback Ben.
There is now a possibility that Gold has already seen its greatest % increase gains and is now just seeking high nominal gains at least in the currency that wins wether it is the dollar or the euro.
However I believe we will not see much in the way of interest rises anytime soon so it still is a great buy.
Just my humble opinion - then again it could still just be a dollar bitch / gold bitch cat fight - I really have no clue now.
I bought another ounce and a bit recently but I am not now entirely convinced it will double in value or more.
The euro in particular could crush peripheral production to maintain its yield for another decade not unlike Volckers hard dollar policey although using a different mechanism
This is for the occasional people who praise Nouriel Roubini:
http://img607.imageshack.us/img607/364/roubinioutstandingtrack.gif
PS: New user. This is my first post.
I'd praise him for speaking his mind. He knows that the kleptocrats are manipulating data and harboring criminals and has said as much. The MSM likes to parade him around because he's got some celebrity. Good link though.
When asked why there hasn't been a more systematic investigation Roubini's reply "Because then you would find the culprits."
http://www.youtube.com/watch?v=X2DRm5ES-uA (at 1:41)
It's not really about being 100% right or wrong. It's about being in the game at all.
He has been quite vocal and for that we could thank him. Making market calls is a fool's game anyhow.
it's also at the top of its descending trendline, but you forgot to mention that.
Latest comments by Don Coxe, believes bullion producers will out do bullion in next leg of the market.
http://goldandsilverlinings.com/?p=284
Want to laugh hard? Read Michael Pascoe's article dated 18 March 2011 and published on the Sydney Morning Herald in which he urges us to sell our gold because the bubble is about to burst. The guy admits he's been wrong on gold for the last three years, but we should listen this time. Anyhow, the comments by the readers are a treat.
http://www.smh.com.au/business/buy-iodine-sell-gold-and-forget-the-aussi...
Comments are now closed
I read this hack piece yesterday - for a mainstream rag it was encouraging on some levels to see his error-ridden drivel relegated to its rightful place by the majority of responders.
I see it as little more than a thinly-veiled advertorial on behalf of Fairfax sponsors - gold dealers, producers, mints etc contribute little, if any, advertizing dollars to the paper, so it's his stoic duty to steer the masses away from gold, and by default make the alternative avenues of banks, brokers, financial houses and real estate (the lion's share of the advertizers in some sections of the paper) seem relatively more attractive.
Sad really.
Why would one hold 1 ozt of gold when they could hold 40 ozt of the precious? Besides the preciouses superior utility to gold and the 1/1 ration of .999 above the crust; it just makes no sense.
Gold Up, Rob Prechter Retards predictions down (the toilet) again.... on Monday Elliott Waves chief clown, Steven Hochberg, predicted "Gold has started a multi week to multi month decline". As is a-typical for the consistently and persistently wrong calamity clown that is Hochberg he couldn't predict, sent investors in the wrong direction, he called it "down" like he's been doing for every of the past 30 weeks and Gold shot up $30
Halucinating Hochberg has been wrong on both Gold and Silver (and stocks, Euros, Dollars and what day of the week it is) right through 2010. It appears Elliott Wave International have a 'jobs for life' policy because Hochberg has been totally incomptent at predicting for his long-suffering subscribers week in week out, month after month yet (still) hasn't been sacked yet.
Probably because Eliott Wave President, Robert Prechter, has been as bigger joke throughout 2010 as his clown Hochberg. Prechter has been so wrong so often on both Gold and Silver he's actually given up trying though 12 months of total fuck ups are not enough to cheer out-of-pocket subscribers who've missed out on huge stock and metals rallies.
Indeed when General Jim (Sinclair) said Gold was about to go into a "parabolic shift" up, Prechter and Hocberg both said it was rubbish and Gold was about to fall. Sure as eggs Gold went up and the 'Elliotts R Idiots' clown show fell over themselves like the incompetent sham they are and dribbled and mumbled Gold would enter a "blow off" period (ie. the "parabolic shift" they said couldn't and wouldn't happen).
Prechter has been almost 100% wrong on Gold and Silver since before June 2010. And nearly a decade for his last right precious metals call, when he sold his Silver at the start of the biggest decade long run in the metal ever seen. He also missed (fuked up) in 2010 missing an 80% rise in the metal, his subcribers missed out again on an historical rise. No surprise though as he was wrong throughout 2010 predicting stocks would do "worse than 2008"
http://www.youtube.com/watch?v=Tz5PrY2gjz0
The Prize for 'Worst Prediction of 2010' ....the 'Rob Precter Retards' win again
Over-confident, under-performing, tragic trend caller Prechter has to dig back 140 years to the last time he won a stock competition. The only way he's getting rich are the ever poorer suckers paying subscriptions to his sham Elliott Wave service with its gross mis-selling 'Free Updates' that fraudulently misrepresent EWIìs abilities to predict cherry-picking the 13 occasions they predicted right, omitting the 162 times they called it wrong and sent investors in totally the wrong direction almost everytime.
The delusional Rob Prechter bills EWI as "Expert Financial Forcasting". That's one big whopper of a lie from his trundling circus of incompetent calamity clowns who spend the vast majority of the year throwing their last forcast in the bin, shredding their last incompetent wave count, sitting on the fence with 2 wave counts and the rest of the time guffing everybody else on the planet is an idiot, if only they were as clever as Elliott Wave!!!
Wow...I gotta get these eyes checked,all the lines look "blue" to me. No trouble seeing the color Gold though... I wish the "Fucking Pig-Dog Manipulators" would FUCK OFF and Die. Gold and silver both would definately be higher without the ENEMY.
The "Tree of Liberty,needs refreshened from time to time with "Blood". it is it's natural fertilizer.
I think Jefferson said something like that.
Smart Man.....
Gonna spread a little "fertilizer baby_Blythe?
You have lots of help.
BABY----BLYTHE.......
Don't EVER...EVER... think the Council on Foriegn Relations is "rather minor"......
PLEASE,PLEASE ., spend some time and see who started this group and what they do.
They run your country,if your American...
AND if your Not.
Save a cow,Eat a Fat fucking Banker....
I've been working at a depository recently, and Asset Strategies International out of Maryland has been moving a lot - literally, tons - of bags of 90% silver dimes, quarters, and half dollars. Obviously, the price fluctuates each day, but I've seen bags that were sold in early March go out the door for about $2,400 for $100 face value in quarters. With silver at $35, that's actually less than melt value by a few bucks.
And, if you're buying to have some cash in the event of a complete dollar collapse, what's going to be more acceptable - a bunch of silver quarters which can easily handle small transactions, or an Eagle or Maple Leaf that virtually no one's ever seen?