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Gold Surges To Fresh Record Spot Of $1,367.65 On Report China To Put More Reserves Into Gold
And so gold takes off, as the CRB index passes 300, with America blissfully unaware $100 oil and 20% U-6 unemployment is next, leading to a total collapse in the economy. The catalyst: Bloomberg reports China to put more reserves in gold. This time gold is flying even as the dollar is not getting crushed, implying that capital flows are not simply "gold on, dollar on." The surge in gold is once again making relative stock gains for the day priced in gold negative. With nobody daring to actually short stocks on fear of random buy-ins (such as the one in IWM today) Gold continues to be the way to express a negative bias on stocks, and one which on a pair trade basis has been profitable on any historical horizon basis as gold's "beta" is better than that of stocks.
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Android continues to grab greater chunks of the U.S. smartphone market while its competitors watch their share shrink or stagnate.
Though still No. 3, Google's Android platform saw its market share climb 5 percentage points to win 17 percent of all U.S. smartphone subscribers for the three months ending in July compared with the prior three months, market researcher ComScore reported yesterday.
This contrasts with No. 1 Research In Motion, which saw its share drop 1.8 points to 39.3 percent. No. 2 Apple also witnessed a drop in share, losing 1.3 points to take home 23.8 percent of the market.
Read more: http://news.cnet.com/8301-1035_3-20016647-94.html#ixzz12FlxThcg
I've heard you say that 3 times before.
With nobody daring to actually short stocks on fear of random buy-ins
Oh ya, there was that big drop in short interest reported justa few days ago...
Chart: ES-ZB
LSD.
http://99ercharts.blogspot.com/2010/10/es-zb.html
http://en.wikipedia.org/wiki/Lysergic_acid_diethylamide
http://en.wikipedia.org/wiki/History_of_LSD
Some of my best trips as a youth were taken without ever leaving my couch. Though I would usually wake up on the floor. :>)
Because they already have sown up what they need in terms of purchase agreements and their real purpose is to deep six the US$ and economy by whatever means. Their intention is to knock the US off its world dominating throne so that they can expand their sphere of influence to include the entire eastern hemisphere. Once they have crushed the US economy (and mind you that the USA is the one that developed the concept of economic power=military power) then they will behave more aggressively and force/enforce "close ties" with all the nations in the east. Since the US will be on its knees and unable to fund or supply its war machine, China will be the big boy in the neighborhood. Australia!!! You had better invest in some nukes and ability to toss them around because China wants your subcontinent resources.
/gc, gold futures just spiked to 1374.80
Have been buying into a number of Australian gold stocks this past month. Will interesting tomorrow.
Wow. I don't want to get too far ahead of myself but...if....gold closes here, above 1366, we can finally begin to say with conviction that JPM and the rest of the Evil Empire have officially lost control of the gold market.
Don't look now....
Gold = $1373.40/oz
You need to think this through- why 1366? Hold out for 1666- the year of the Great Plague of London and all that, significant...it's got '666' in it too.
Analytically, if the Chinese are buying it should be good for the extra 300 bucks, right?
'300'..hmm. I got it-Thermopylae! The stalwart 300 Spartans held back the Evil Persian Empire.
You work out how JPM fits into this.
Cpl: 1366 was the intra-day high of last Thursday when the Evil Empire commenced their raid that painted and "outside downward reversal" day down to 1326. This was short-term negative for all the momentum-based chartists out there. Moving back through 1366, especially closing above 1366 if we can do it, will completely negate the EE's work and turn everything very bullish again.
The question is: where will we close today???
Good answer- 1366 meant something to the price of gold. Just out of curiosity do you (or anybody else out there) have a sell target for gold?
Cpl: I have maintained since May that gold will trade at 1500 by 12/10/10. Santa Sinclair has said for almost 10 years now that gold will hit 1650 by early 2011. I'll wait for those #s to be hit and then I'll re-assess.
Looks like we made it. Closing around 1370 and 23.90, both well clear of last week's highs.
The great march to 1500+ continues...
At $25 for silver, I will be spending a couple of ounces on a nice dinner that I promised my family. They are getting pretty burned out from all of the saving I've been shoving down their throats. I've been holding off on a family vacation for a while. I'm planning on buying a nice trailer at around $35 or $40 so we can go on a little trip.
Pater familias knows best. Though skeptical at first, I think everyone has come around to my way of thinking.
I wish you the joy of rock-solid assets, pure thoughts and clean living.
No sell target for the foreseeable future...this is a fiat currency collapse in progress.
It's amazing how few reminders we get. But it's collapsing rapidly.
The 666 number is a misnomer. The actual number was not even close and was a satirical comment on a king calling him the devil. There is no "666" just silly humans believing in silly things. I'd just as soon believe there are people coming back from the dead...
But 666 is way cooler than the actual number. If it wasn't, we and Ozzy and the goth kids writing on their clothes would be using the Actual Number! BTW, does anybody know the actual number? Or maybe it's a closely held secret on parchment in a Federal Reserve vault in lower Manhatten.
it's 616....
That's right...Grand Rapids MI. is where lay the gates of hell !!
http://www.religionnewsblog.com/11133/revelation-666-is-not-the-number-o...
Wheeeee my screens are all greeeeeen gold just passed 1374 and counting, wheeee what a day babyyyyy! Fun to watch the distruction of our homeland?!?! Well soon enough it'll be OVER!!! And no March '09 rebooting this time around!!!
Chart: Gold
What a fucking trip!
http://99ercharts.blogspot.com/
http://en.wikipedia.org/wiki/Lysergic_acid_diethylamide
Wow man, look at those pretty charts. Cool!
:>)
Really?
Just give me C8H10N4O2
I hate those stupid archaic metals. Well, the ones I can never have enough of.
Rome is Burning!!!
Marketwatch - no mention of China or the move in gold. yet but yes apple gets a headline.
Dec Comex gold futures just under $1375/ounce minutes ago.
Other commodities skyrocketing too. Even LUMBER futures were limit up this week! Sugar, cotton, grains, all higher!
Gold up only $22 delivering kick to the nuts of the FED and JPM's gold puts, and stock pumping frenzy. DOW's 80 points is a deep underwater day for the monetizer maniacs.
But stocks/Wall Street are happy!
Can you spell "bubble"?
Gold @ $1374
there goes the money, to pay off my to be foreclosed, in 4 years home
"Money for nothing, chicks for free"
oops
@DarkMath,
Actually, I paid $50 sf2 in Florida. Guy went down from $2.4mln to $800k.
My message is; why to pay and be current when foreclosure takes min 3-4 years. And that without moratorium and other tricks like bankruptcy, etc, etc.
On the other hand, bullion will go to heaven, in 3-4 years. Maybe $2000/oz, maybe even $5000/oz
They always give you option to pay off loan when you are foreclosed.
Lets say, there are millions of us buying bullion instead of paying mortgages. That would be a lot of fun. And moneychangers go to hell.
I tell ya, this game is easy:
http://www.youtube.com/watch?v=lvflmlnIpdw
I'm so sorry ZeroHedgefan. It's a long story. I made a sarcastic comment about gold above to see how many time I'd get junked. Then Leblanc made some snide comment above http://www.zerohedge.com/article/gold-surges-fresh-record-spot-136765-cr... . Then I saw your Heath Ledger avatar and assumed it was the same person.
I take back anything I said about foreclosure. I didn't quite get the meaning of your post. Did you buy a place for 800k on a house and then it got foreclosed on?
DarkMath,
I am current on my mortgage, but the urge to stop paying and buying metals is huge. Selling metals before house auction will pay off the mortgage. All ethical and house might be 10c/$1 in 3-4 years.
More if everybody does it, the Fed is dead.
Sorry guys, but where is this Bloomberg news??
It would make sense given this:
http://www.independent.co.uk/news/business/news/the-demise-of-the-dollar...
Gold now at $1369!
We're all unlucky cocksuckers...
Yea, where did Bloomberg report this? I can't find anything on the terminal.
Oh boy. The cash USDX is at 77 even as we speak. A drop through 77 and gold goes even higher today.
more PM Haiku:
counting shiny coins
quantitative easing burns
holes in Fed's pocket
"I LOVE THE MONEY HOLE!"
http://www.theonion.com/video/in-the-know-should-the-government-stop-dum...
CRB index last through 300 almost 2 years ago to the day (October 14, 2008).
The current trajectory is fucking nuts. We aren't going to last another 6 months at this rate.
Enjoy this purely academic experiment brought to you by Bernanke & Co. Because when the explosions occurs, it sure as hell won't be academic.
We're all academics now!
;-)
Ain't that the truth. No wonder brainiacs love research
http://www.youtube.com/watch?v=03N8snlE75U
Chart: SPX
Dedicated to Nic Lenoir. Merci.
http://99ercharts.blogspot.com/2010/10/spx_13.html
"Japan will be forced to default on its debt, Greece’s economy is “done” and Iceland is worse off than Greece, said J. Kyle Bass, the head of Dallas-based Hayman Advisors LP who made $500 million in 2007 on the U.S. subprime collapse."
http://www.bloomberg.com/news/2010-10-13/japan-will-be-forced-to-default...
The higher gold and silver go the more attention is paid to the long correct critics of the Federal Reserve such as Ron Paul.This is very problematic for them and eventually gold may become nearly impossible for them to surpress.
Buying Silver everyday,becoming a fulltime job.Mrs sick of signing for packages,this situation is going ballistic pretty soon.
Yes. As much pride as I feel in being correct regarding gold, I am truly saddened for what it means for my fellow countrymen. Something very real and wicked this way comes.
Over the next 18 months or so, I now fear that much will change. Fiats will continue to rapidly collapse. Governments will fall. Wars will start.
To my fellow ZHers, we discussed last summer that we are the "watchmen" of the Old Testament. We have been blessed with the foresight of seeing the truth of our situation. It is up to us to warn anyone who will listen and ask them to prepare. Many will still ignore you and claim you are a lunatic/conspiracy theorist/maniac. Whatever. Shake the dust from your feet and move on but continue warning. It is your duty.
The end of the Great Keynesian Experiment is upon us. Prepare accordingly.
Totally agree,they will ignore you because they don,t want to admit that everything they believe in is going to fall apart before their eyes.The turmoil is getting faster and the side effects harder to predict,the lack of official clarity on this is deafening,having said that the elites are probably spending half the day buying Gold and Silver,makes one wonder how long the COMEX game can survive before the wheels permanently come off for all to see.
Is this why Max Keiser purportedly predicted a bank holiday yesterday?
The central planners are starting to get worried. China won't play nice in the globalists sand box.
Turd, you said 'buy every asset you can get your hands on', the other day. So, sell goldies for assets now?
Fuck no. Is your gold not the ultimate asset?
And to correct you, I said buy every dollar-denominated asset you can get your hands on.
whew, not being conversant in the native lingo, I thought you were saying trade-up. I'll hold on tight. Is the scale-out formula around 1 dow = 1 oz, or ...? and thank you again SIR T
Haven't been able to find any news anywhere about china buying more gold. No bloomberg terminal here
The market's falling. The Sky Is Crying.
http://www.youtube.com/watch?v=isGyDRW4LF4&feature=related
http://www.youtube.com/watch?v=4JvTV5DYbsA&feature=related
In gold we trust.
In silver we trust.
In platinum we trust.
In palladium we trust.
In real, physical goods we trust.
In fiat paper and the predators-that-be we despise.
Really this is a great post from an expert and thank you very much for sharing this valuable information with us.
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