Gold Surges With DXY Positive For The Day

Tyler Durden's picture

No, you are not reading that chart wrong. Gold just surged to near two month highs, hitting $1130/oz, or $12 higher, even as the dollar is green for the day. The fiat currency inferno is picking up, as traders refuse to keep their money in anything but gold or dollars - proof of tungsten gold counterfeiting is not helping the gold shorts. From the 2010 lows, the currency devaluation "safety trade" has been Gold and the USD, in a ratio of 5-1!

Intraday chart...

And from the February market lows: note the relative performance of the DXY and GOLDS:


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obewon's picture

JPM and/or GS gonna have to shell out some bucks to put out the TungstenGate fire (read: secret payoffs) . . .

Otherwise, they gonna have to continue to short the gold market big time.

Master Bates's picture

Yeah, it's a good thing they're short gold and silver, right?

I mean, since they've been wrong on all their *other* trades and all...

Anonymous's picture

The National PITW (Pissin in the Wind) Bureau has just issued the following Black Swan warning for all politically influenced markets effective immediately through 10:00AM tomorrow.

Deb Medina....more....
God Bless Texas...end

Anonymous's picture

but Cody Willard and Prechter said gold would crash!

Master Bates's picture

They're right.  That multi-year chart looks nasty.

trav7777's picture

I agree.

I plan to preserve my wealth by stockpiling the currencies of bankrupt nations

Hephasteus's picture

Good when it goes down that will suck in a bunch of new gold bugs.

truont's picture

Gold up even though FRN is up?

Maybe people are figuring out that foreign players are buying less and less treasuries with each passing auction (ie indirect take-downs are falling).

Time to grab a chair before the music stops playing...

Anonymous's picture

I got enough to count as multiple chairs. I could line them up and take a nap.

Anonymous's picture

Mrs. Bernanke: "sleep tight - don't let the goldbugs bite"

MiningJunkie's picture

Ain't no fever like Tungsten Fever!

Anonymous's picture

Anyone have experience with both CNI and Tulving?
Facebook B*tches

JT Marlin's picture

Yes, Gold is the only metal that you dig out of the ground, refine it, then stick back into the ground.  What useful purpose is there?  If people are true wealth preservers, who are afraid of the "looming" collapse, shouldn't you be buying commodities in bulk quantities, such as oil, grains, livestock, instead of a metal with no useful value, other than the fact that it is rare?

merehuman's picture

Sure. 2,000 cows in my backyard and i have to feed them

50 barrels of oil , same back yard,storage costs.

How much grain can i get in my bedroom?

Gold requires only that i keep it safe. easily done.

All other storages of value add costs and difficulty.

JT Marlin's picture

True, but don't you think that if as many have predicted, the US economy will collapse, all trade with the US will cease, and then what?  I guess I just don't understand?


Wouldn't it make more sense to spend paper money today (you know, since it is all fake anyways), to have something worth consuming, and using if the economy collapses and America is thrown into a huge headwind, instead of immovable, unedible pieces of metal that cannot be easily traded for necessities because at that point, who will have commodities?  


It just does not make sense, to me at least.  

Internet Tough Guy's picture

History shows that in an economic collapse, precious metals are at the top of the barter economy/black market. They provide perfect flexibility. If you only have eggs to trade, or wheat you need to find someone who wants eggs or wheat. And you better hurry before your commodities rot.

faustian bargain's picture

If there's no official currency, anything and everything becomes tradeable. Some things will be easier to trade than others. Precious metals are in that category.

Shameful's picture

Some of us are planning on not riding out the storm here and gold is universally the currency of refugees and the like. Sure you might not get perfect market value out of it, but if it is real bad out there it will get you to where you are going and grease the palms along the way.

If you are going to ride out the storm then I would suggest farmland, fuel supplies, livestock, food, and weapons. But I would simply prefer to move where life will continue in much the same way as I'm used to. Dealing with rioters is not for me.

Mad Max's picture

I would like to know where life will continue unchanged, in a good way.  I imagine, of course, that life in various primitive countries will be mostly unchanged, as also perhaps in some highly authoritarian countries.

I think even the nicest parts of europe could be quite unpleasant if the US/UK joint venture goes down, as it seems likely to do.  And some of the nicer remote places like NZ might have food and oil issues if trade grinds to a halt.

But I'm all ears.

Shameful's picture

When I state unchanged I mean not set for a massive upheaval. I expect things to get more difficult in most nations and I expect to see a lot more crime globally. This to me is about picking the best of a bad situation.

I know the US will go off like a barrel of nitroglycerin. you have to much debt and unrealistic expectations built into a populace. So the US is right out. Canada is out because I expect them to be overwhelmed by Americans (legally or legally) leaving the US and going to greener pastures in Canada. Most of Europe will have problems because they are infected with the same debt disease as the US/UK. The UK is a joke, it's like watching 1984 unfold mixed with nightmarish fiscal and economic policy.

You mention NZ and they might do alright assuming that gold does not get cut off in the West's death throes. I'm also nominally bullish on Australia in the long term. They are linked in with the Asia story, but they need to have their housing bubble pop and have a restructuring so they will have a lot of problems in the short the medium term. I think that knowing that they are in a bubble means that one can mitigate part of the problem if one is there.

In Asia we see a lot of problems and opportunity. Japan will eventually creek and break under their massive debt load and aging population. They have an interesting mono culture so not sure how well they will hold up, I'm no expert on Japan. China has massive malinvestment. They are a major manufacturing hub, but many of their products will not have buyers which is bad and they have effectively lender financed their industry and we know where that story goes. Having said that I'm bullish on China in the long term because of their industrial base and the fact that many do save so much and less of an expectation for government to be there but I see problems there in the short to medium term. Which leads me to Taiwan, which I actually like a lot. Sure they have problems and a little to in debt for my taste but I see one of the large issues with them is a future relationship with a CP in China that is trying to invoke nationalism.

I've heard nothing but great things about Singapore and I do expect them to get hit fairly hard in the breakdown of the west but I don't think they will slip into social chaos one of the things I'm trying to avoid.

Personally I'm looking largely at Singapore and Australia in the short term to medium as I think they will "last" longer them most of the west and then Singapore, Taiwan or China/HK after a few more years.

You are right that most places will get worse in case of a major meltdown but we have to look at it on a scale and where it will fall from where it is at and what kind of chaos it will cause. Some of this is cultural, so I might expect Japan to weather the default better then the US for example. It also is a factor about how fast a prospective nation could bounce back. A nation with a large manufacturing base or massive natural resources will be better positioned to emerge from the crisis.

Also a lot of it boils down to oil. I don't think the West will destroy oil production/shipping in it's death throes, but if it does then yes the world changes vastly for the worst everywhere. And if the West decides to gamble it all on a world war. If the West goes quietly into the good night then I actually think most of the rest of the world will be able to stand back up after not to long. After all it is not like the Wests good for the debt so really they should be ready to write off this bad debt now.

Sorry for the long post but I felt the need to get my ideas out there since I know you have more experience in this then I. So I would love to know what nations you might be looking at.

Internet Tough Guy's picture

I wouldn't touch Australia. They are levered to the hilt, and totally dependent on commodity exports to China. Not to mention they are running out of water.

Mad Max's picture

A very long and detailed reply.  I should state that I do not think I necessarily have more experience on this question than you do, but I'll take that as a compliment.

New Zealand looks best for peace and stability as long as some trade is ongoing.  If trade totally collapsed it would have some trouble maintaining itself, and ethnic tensions might come up.  It is one of the most isolated countries in the world, so it could get cut off from trade very easily.

Australia I would avoid.  Their economy is good now, but extremely dependent on exporting resources.  Trade dries up and that dies.  They can barely grow food as it is now and desertification is serious and worsening.  You can't eat coal and taconite.  I would avoid Australia.

I would not be so down on the US.  Sure, avoid California and the northeast like the plague.  There are more remote places that could be relatively unscathed, as long as there is local food production.  You can easily research suggested areas if you feel so inclined.

I basically agree with you on Canada.  A decent country now, but could easily be overrun by @#$#@ illegals from south of the border (irony intended) if the US were to collapse or even just enter a recognized depression.

UK a basket case.  Germany, France etc. likely to explode from ethnic tensions relating to their recent immigrants.  Just my 2 cents.

I think the nordic countries could do OK, with ability to feed themselves being the largest problem.  Following from that, I think the "eastern europe" formerly nominally communist countries such as Poland and Czech Republic could do well if they can manage their international politics with the old bear to the east.  They would only need to appease it enough to remain independent, somewhat like Switzerland has managed for a long time.  Much smaller immigrant communities compared to western europe, less energy dependence and better ability to feed themselves.

Uruguay and Panama might be worth a look.  And Chile too, notwithstanding the quake.

There are several wealthy tropical islands that would be great options if you are confident that trade will continue and you either have considerable assets or are confident that you can continue working in the international financial sector.  If you aren't confident in those assumptions, those islands are only a few weeks of interrupted trade away from starvation.

If you have white skin I would avoid anywhere in asia.  I think europeans are going to be convenient targets of lynch mobs once things get really ugly.  Just look at the Uighur issue in western China (not involving white europeans but as an example of tensions), or the various happenings prior to and during WWII.

Shameful's picture

Thanks for the reply

I completely agree that Australia is completely dependent on China or the Asian countries for it's economy, and they still have a housing bubble to pop. I'm just thinking that will continue on some level to keep them out of total collapse. Sure it's not a sure thing and I know they are leveraged up I just see them as one of the best western countries I think I could get into. You mention the Nordic countries and I could see them having problems as well. If Europe is literally melting down and they are still covering all the cool "free" services I think they might have the same problem as Canada. I had a friend a while back who was willfully unemployed in Finland, because he figured he could make almost as much not working as working. A system where that exists will not go on for ever even if there are natural resources to exploit, they may be falling later in the line but I don't like that model.

As to the US I think it will be violent, very very violent unless you are in a rural area and then the question will be about how to get fuel, as most US agg is big agg business and heavily fuel dependent (I know it's not all I have some cousins who are farmers in the rest belt). Now I might be wrong on the violence but that would mean martial law, and I don't like either scenario. Growing up in the SW I see a fair amount of tension. Now maybe it's my poor white background but there are a lot of poor angry white people (with guns) who blame part of their woes on the illegals, the "De took 're jobs!" group. So tempers will flare with them, and I'm sure the illegal pop or those with a Hispanic background will not take kindly any abuse. So I can see a lot of cultural tensions in the US and we have an angry society that feels entitled and has been acclimated to violence and will be looking for a scapegoat. The Jews were scapegoated in Germany, and I expect people to try it here to focus the mob away from stringent up bankers and their bought politicians. So sure maybe in areas of Utah or Idaho in the rural areas most of the violence will be avoided but I expect a lot of crime and violence in cities as the welfare net breaks down and people hit their limit.

Actually I've thought it over and I think America will likely be a great place to come back to with a little money. There is a lot of natural resources but they are to expensive to get now because of prices, labor costs, regulation, and environmental concerns. But post collapse/regime change it might be a lot easier to grease the wheels and open a copper mine or drill for natural gas or mine coal or uranium or any number of resources. So I've considered the idea of coming back and investing once everything settles down.

I didn't look much at eastern Europe because my family is from there and I'm a little leery of going back to the region. A lot of war and conflict in that zone and fought on that soil. Might have to do a little more research into that area. Maybe I'll get lucky and I'll hear back about being able to get EU citizenship.

No interest in the islands. I'm a programmer by trade so even though could do my job on the moon most likely I'll have to be in an urban zone for any employer. Don't have the skills or exp to be able to demand working from a remote location yet. No island for this guy, I'm still a poor student who is saying his pennies :)

I'd like to believe it would not resort to lynch mobs in Asia. I have have talked to people who spend a lot of time in the region including a UN translator that spent the better part of a decade living just in Japan and he thinks the area is a good call for the future. I also expect a level of scapegoating to happen but I don't know how bad it will be over there. I might also be taking for granted the general low level of violent crime in those places.

I had started looking into Chile right before the quake actually and liked what I saw initially. I don't like Panama because of the high expat pop that is on fixed incomes or otherwise retired. When those guys go bust the local gov will not look to kindly on us expats. Uruguay looked interesting and I was still doing research. Not a huge fan of their "neighborhood" at least Chile has the mountains.

I'm trying to find a mostly stable place I can flee to and work from and I'm willing to go most anywhere to do it. I know the whole world won't cease to exists just because the West has it's ponzi economies crash. I'm American and I think it's kinda a silly idea that the world will be plunged into another dark age if we cannot consume like we have.

Mad Max's picture

Just a thought or two in reply.  I recommend you focus on hard facts and not hope.  Some parts of eastern Europe have relatively little history of violence.  I would, of course, avoid the Balkans.  Also remember that many places you might consider in Asia have a history of lynch mobs and violence against foreigners of various kinds.  You would be the white american with no guns and no way to escape in such a situation.  To me that isn't a great person to be.  I also think you should consider local production of food in a world where trade is lower, unstable, and dependent on fuel spikes.  Australia could get awfully hungry in such a world, as could China and perhaps Singapore, HK and others.

Anonymous's picture

Australia hungry? There's only 20 million of us, and we annually export some $20 odd billion worth each year.

Only problem with Chile is they speak Spanish too damn fast. Argentina might do alright if the rest of the world falls down a notch....

Mad Max's picture

I suggest Jared Diamond's books Collapse and Guns/Germs/Steel for some discussion of Australia's agricultural issues.  It may be an exporter of wheat for now, but agriculture there is as precarious as in the Sahel, perhaps more so.  It is the driest populated continent by far (Antarctica might be drier technically speaking) and there's no sign that it will get wetter.

trav7777's picture

I did this analysis years ago...I came up with Brazil and Norway.

EVERYTHING revolves around energy and these are two net exporters with functional economies.  Each has major pros and cons.  Canada would be ideal but/for its proximity to the US.  All other major oil exporters are Russia or Arab.

Would not touch a country that was a major non-energy commodity exporter, nor a major importer.  Maybe hide out in Iceland, who knows?

Shameful's picture

Norway looks a bit rough to get into. I have heard a lot of bad stories when looking at Brazil, what has your research uncovered? I like the idea of energy exporters as well and I agree with your analysis of Canada, if it was not next to the US it would be at the top of my list.

Now I think the Middle East will be a powder keg, too many hands trying to go into the cookie jar at once, also there is the geopolitical prospects of what Israel will do if the US implodes and is not their to help them fight above their weight class. I don't know what they will do no one does, but that have a big military that is modern and have nuclear weapons so they could do nearly anything really.

For full disclosure have never looked at Russia, I don't want to. I heard a lot of anti-Soviet/anti-Russian stories as a kid and would run into a mental problem with going there for "safety" or "freedom" when people I knew were driven from their homes by Russians. It's not rational, but I'm human so I'm not a wholly rational creature.

merehuman's picture

To flee?   Stay and defend your country!

Foreign banks are taking over your country and you are gonna let them have it?

You all made your money off us and now your gonna run?

Where are the Jeffersons and patrick henrys?

Is there so little courage amongst us that we cannot cut the head of this monster?

must we by choice keep our money in the too big to fails?

Come AMERICA regain your country!!

Shameful's picture

What country? What is there to defend is there still a Constitution? If there is I don't think the Gov has got the memo on that. I think that ended with Lincoln and most definitely with FDR.

Banks are not taking over, they have already taken over. They won, we lost. They stole it, and have title. There is little doubt it's a government of the oligarchs, by the oligarchs, for the oligarchs. You do realize you own nothing right? Not your land, not your bank account, not even your flesh, they own all of us because they have authority to take all we are and we have no right to stand against them.

Yep, I grew up hear and worked my menial job and I saved every penny, not doing my patriotic duty by going massively into debt. I see midnight approach and plan to leave. So yes I'll take the money I saved with me. If you read another post I plan on coming back with it to invest in an America that will respect capital, savings, and industry instead of becoming a nation of thieves, grifters, and con men.

Patrick Henry and Jefferson are spinning in their graves, as they would have revolted decades ago. We are not them and if they were to show up on the scene they would be labeled as terrorists and probably be tortured in a CIA black site as soon as they were captured.

Cut the head of the monster, where is the head? It's not GS or JPM, we all know it goes higher then that. Are you blessed with the insight to know why is the guy calling the shots and could make a stunning blow to right all the wrongs without another head of the hydra sprouting?

The only way for America to be America is to pick it after a fall. Stay if you want. I know people that see this happening and are going to stay. To me it's pointless, they have the tanks, bombs, missiles, nukes, we have handguns and rifles. They have strategic stores and plans, we have no leadership and no reserves. They openly talk of infiltrating any group that is a threat to them and on record do so. Direct confrontation is madness, the only thing that will work is to deprive the beast of labor and capital to feed on. I'm going to be doing that I will leave and deprive them of my labor and my tax burden and do my part to hasten the death of the leviathan. Though I expect them to squeeze so those who stay will be made penniless by the last rounds of looting. America is dead, the flesh and organs have been consumed, now they are cracking the bones open to suck the marrow out. We know that by 2020 the debt will be a minimum 20T, and that the Gov's rosy figures. Either we will default or devalue, in either case there will be a looting and death of the middle class as America descends into the 3rd world. A banana republic with nukes. I grew up here and love America so it pains me to see this happen but I am powerless to stop the final phase of the death of empire America. I can only hope that out of the asses many years down the line something great can grow once more.

This is the internet so we are not going to change each others minds. If you stay and fight I wish you well and I wish you success, but I think you have chosen the path of pain and death, I sincerely hope I am wrong, it takes courage to stand against the beast. I'm not a brave man, not even on the internet where I'm anonymous, I'm not going to fake courage. Though in closing I would like to ask, what are you doing to fight? Is it talk online or are you doing protests or trying to starve the beast in your own way. Staying here to "fight" but complying with the beast is not going to weaken it.

merehuman's picture

What am i doing.

I promised my self 2 months ago to alert my neighbors to reality and each person i met each day. I have done that and will keep on.

Along the way i have given up at least 20 oz silver to strangers , to make the point to them clear.

I have expanded our garden to grow more than we need.

There is enuf food packed away to feed my neighbors and us for a year.

I connect with people on utube and we exchange info.

My bottom line is my community. None of us can stand alone. The area i live in allows for selfsufficiency, fishing , hunting and farming.

Water is in abundance and the terrain allows some safety from strangers and nuclear strikes due to mountains all around and only 2 points of entry to the outside world. Our population is older and well prepared from previous life experience.

I make a karmic choice to accept the bad as i have the good. Nor would i leave my house should the wife be sick or get rid of the dog because its peed on my bed 3 times (yes it did!)

Dont get me wrong, i love life, but it must be worth living. This stubborn old kraut may die for his principles, but he will do it fighting if he must. I will be fighting for my selfrespect and the ability to love who i am as i do now.

I am still a german citizen, have distant family there encouraging me to come.

America with all its faults is home.

You too are my family and i wish you well whatever path you choose. But in the end you have to live with yourself and leaving the scene of a fight, before during or after is always a wise move. If you have children i would indeed encourage you to leave for safer climes and welcome you upon your return.

Shameful's picture

I have a lot of admiration for what you are doing.  I'm glad you brought up your age, not because I think it's important but because it is part of my "cop out".  As a young person I don't feel I've had a chance to lead my life.  All I have done is work and study in attempt to build a better future for myself, and now it looks like that future will turn into ashes.  As my colleagues were out partying I was working late hours or studying, in some ways they had it right.  To squeeze the pleasure out of life while I worked and lived like a monk, especially if both groups are here with no future.  I want my chance to live.  Also as a young person I'm horrified by the idea that Uncle Sugar could try to shove a gun in my hands to have me murder on his behalf.  I'm not insulting vets as many of my close friends are vets, but my personal moral code does not allow for the taking of life except in the most dire of circumstances, and that does not include planning to take life.  Life is too sacred for anyone to have the right to take in the casual manner that most governments take it.  Quite frankly I don't want to go into the afterlife with blood on my hands.

I have done some things such as stocking up, because I had planned on ridding it out.  Did the whole 9 yards, year food supply (canned at a LDS cannery because of a friend), guns/ammo, water filter, precious metals including a lot of silver in case it came to trading.  What convinced me I could leave was a hard line liberal and I talking about the world, and the system we face.  She was so happy her man had won she was willing to overlook all his sins in much the same way as conservatives overlook the sin of their man.  In our conversation she dropped the line "If you don't like it then why don't you just leave?!?" That phrase changed my life.  I realized that I was a free man and I didn't have to fight and die here.  I didn't have to go down with the ship.  She was stunned when in a later conversation I thanked her for her words that woke me up.

I have no children, though I have promised to take on my nephews if things get bad.  I was there when they took their first steps and spent a lot of my free time babysitting them so my sister could work to help make ends meet.  I've given a lot of money, food, and precious metals to my sister to help take care of them and prepare for their future no matter what may come.  I love those boys like they were my own.  Their dad is in the construction biz working for his dad and doesn't have a lot of skills or the ability to leave.  That and as my sister she never listens to me.  I warned her not to buy her house when she did, because I saw it was the top of the bubble but she did anyway.  She admits that my track record is good, but in her mind I'm wrong because she thinks it can't get that bad.

nuinut's picture

NZ produces enough food to feed 15m, with a population of 4m.

Hydro, geothermal, tons of coal, tons of water, good climate.

While most Kiwis wish we were more like Aussie, they have real problems if trade slows up alright, with food and water.

NZ will have a big, and keen market there.

I am very grateful not to be in the Northern Hemisphere. 

All the best to everyone who is though; hope the conclusion of this fiat adventure is not as ugly as some predict. No way we are going to avoid some consequences though.

Shameful's picture

I heard NZ passed a cap and tax scheme. Any idea how this will affect agg production? I know NZ is a major agg producer and exporter and I looked at them since it looked like I could get in there or Australia with my background and skill set. What is your experience down there and would you recommend looking at it?

nuinut's picture

Nah, nothing has been actually passed, just a lot of talk. Politicians here are the same as everywhere else. They will talk and talk till they see what the rest of the world is going to do.

There is a recession here too. (not that it's had much impact. Housing is still at its bubble highs, except for the waterfront, which was bid up the most anyway. J6P in NZ has got no idea what is going on on your side of the world. 'Yeah, the American house prices have come off their highs a little, but it's different here'.)


nuinut's picture

As to your other question, yes I would definitely look at it. 

Seems pretty easy to get in here, judging by the numbers of foreigners who have arrived here in the last 5 years or so. Its like the UN down at my kids school.

I think the influx is one factor supporting the housing prices still.

Shameful's picture

Excellent!  Like I said I looked at it but for some reason I thought they passed cap and tax which made me leery because of the resouces based economy.  Have to look you guys up.  Hopefully there will be room for one more hardworking, educated guy to sneak it :)

faustian bargain's picture

Gosh, that sounds like one of those rhetorical questions. You must be pretty smart.

lawrence1's picture

Useful for thousands of years as a store of value and/or currency.  Other commodities  may well decrease in value as  world trade slows to a snail's pace.

ShankyS's picture

Well it is apparent the SPX no longer gives a flip what the dollar does. I guess it is gold's turn to be the dollar's bitch.

Anonymous's picture

Until gold flips the dollar over - then it's gonna hurt. Squeal like a pig, greenback!

Master Bates's picture

gold SURGES like less than 1%.  *yawn*

what a SURGE..

Meridian's picture

Bates nobody cares that you don't like gold, but you repeat yourself ad naseum. Bates thinks a "like 1%" rise in gold isn't a surge. We got it, roger that, loud and clear, coming through. Now go out and enjoy that warm weather or inflate that "girlfriend" of yours again.

Anonymous's picture

Master Bates, do you think there is a possibility you are wrong?

Master Bates's picture

Yes, and I even say so repeatedly.  Yet, I never hear the same from the goldbugs, EVER.
It's always wow, gold went up ten dollars!  Next it'll be to 5000!

Anonymous's picture

Replying to Shameful and MM, if it's worth anything (it's not) I have two homes outside of the US which are exactly my EOTWAWKI locations. Both are in SA, one is Colombia, the other is Uruguay. Both are hacienda's (farms) with plenty of land, and (relatively) peaceful self sustaining economies.

Now before the haters start going off on Colombia, let me tell you as somebody who does business in SA and has ownership there the drug trade has mostly moved to Mexico. Does it still exist? Sure. It is greatly reduced and is on the way down as Colombia is very pro market. People there want the same as people here, peace and a better life for their children.

My reasons for buying there is because I see an uptrend in their economies, the dollar is still relatively strong (2/1), Colombia especially is rich in commodities, Uruguay is the Switzerland of SA. Buying and owning anything is still done on a cash basis, the markets there are small and I feel like fortunes can be made with the right patience as foreign investment is still a trickle when compared to Asian markets. The women are stunning.

If you want more info on Colombia or Uruguay, you can go to to get a good feel for things or to look at land in Uruguay. Buena suerte!

Shameful's picture

Thanks for the advice I'll look into that. I do have some questions if you see this. My concern is employment of course. I have several degrees now but my education is in accounting and law and my job experience is in computer programming. Now accounting and law are heavily focused into the US (because I was/am a dumb kid ok) so are mostly worthless as an expat. But do you know if SA has a big enough IT industry to employ a significant amount of programmers? The work should mostly be the same as most computing languages are English based. I was looking Eastward because I see an abundance of programming work in places like Australia and Asia but have less exposure to what the market might be like in SA.

I'm totally open minded about where I end up. My criteria is reasonable safe so I'm not robbed and or murdered, and will afford me a chance to use my skill set to make a living. It would be a great irony to go to SA. I grew up in the SW and never learned Spanish, but learned a chunk of Mandarin and then go to SA :)

Anonymous's picture

We export metals out of Colombia and make trips down south at least 4-5 times per yr. The type of work you would be looking for would be found in Bogota, or Medellin as far as Colombia is concerned. Montevideo in Uruguay would be where you would look for accounting work. You of course would need to talk to an abagado (lawyer) to get a work permit, and show some means of support.

Bogota is a big city (8MM+-) the surrounding area can be very dangerous, stay where the locals stay, don't be a fool and you'll be fine. The coast Barranquilla, Santa Marta, and Cartegana are much safer but then again they are much smaller as well (1.5MM+-) Uruguay on the other hand is extremely safe, Montevideo, Punta Del Este is very nice but is touristy and not much industry other than tourism and is expensive.

Look at that much of the time you can find businesses for sale, or situations wanted. I almost bought an internet cafe in Medellin 3 yrs ago but net after expenses was $20k, not worth it for me. Of course wealth consists not in having great possessions, but in having few wants.-Epicurus

Anonymous's picture

Don't mean to piss on the party, but has anyone noticed that gold has moved up with equities? What is going to happen when equities go back down (or is that not going to happen)?

Maybe this is just wishful thinking on my part (long gold).