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Gold Surges To Near $1,250, As Stealthy Flight To Safety Accelerates, Stocks Oblivious
As stocks continue to correlate with exactly nothing, and are once again lost in their own HFT dreamworld, which fools Atari in believing the toxic crap it is churning millions of times each second is worth something (and the exchanges gladly continue to pay liquidity rebates for said churn), the capital continues to quietly flow to safety. The EURCHF is now persistently hugging the 1.29 line, which a mere month ago would have sounded like suicide for the SNB, the 2s10s30s is unchanged on the day, as the treasury complex refuses to budge, and lastly, gold, which has surged from $1,234 to almost $1,250, as ever more money is put into safe assets. As usual, stocks (especially the high beta variety) are the last to get the memo. Once they do, the snapback will, as usual, be vicious.
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you could at least mention the rather poor volumes ...
Forget about gold.
SILVER BITCHEZ!!!
gold jewlry, bitch.
gold jewlry, bitch.
short bill that is. can't reach my lips. my other b i l l , oh he can definitely reach my lips. hey i picked up the last 6 holes with a psychotherapist. he didn't think i was too nuts, my little pine nut. actually i told him about mythology that i have been learning from U. i think he was intrigued, me too. kiss kiss. goddess of memory, she R O C K s.
so what,
money fore nothing and junks for free.
L losers, i always do the L oser sign on my fore head. fore skin
get it†
The only thing that makes sense is that your are transmitting secret codes in your posts. Or you have some seriously strong weed.
R U a beaver or a squirrel?
The midget walks with a limp.......
This is Kathy's flirting technique. She comes on to two people at once all the time. I think she has serious problems making decisions.
I can tell you right now Heph, I've tried that technique before, and it just isn't productive, your "targets" like to feel like they are "special", and this technique does not engender that feeling.
oHHHHH my targets definitely feel they are special. like drop to their knees special. U should c o m e by in person, and see how special i could make U feel. oh, it come s natural. i just love engaging myself with some men. damn i got my command x button, i am free again. R U a beaver?
hey i picked up the last 6 holes with a psychotherapist. he didn't think i was too nuts, my little pine nut. actually i told him about mythology that i have been learning from U. i think he was intrigued, me too.
Intrigued? I bet that is an understatement. I found the perfect avatar for you...
http://matteo.net/wp-content/uploads/2006/11/shining-tm.jpg
Seriously, get some help.
frank i am innocent. i am like an angel. goddess angel. i really don't think i need help. U do. your sick, mostly.
Already there....
http://finance.yahoo.com/q?s=GCU10.CMX
GCU10.CMX shows a high of 3,401.50 today whats up with that?
It did that yesterday too. Probably just a glitch.
I am not liking the "flight to safety" title.
Flight to reality or flight to money would be better.
flight to capital....
flight to highly concentrated wealth...
And Silver is right in tow..
Silver isn't "in tow" it is up 2x the percentage as gold is....
My Gawd, silver is acting like....
money. Can it be?
Yes it can... It always has been money; just don't ask the 'professionals' as they will tell you it is just an overbought commodity. They want your hard earned buying power locked up in little green coupons that they can debase and erode at will.
What Do Silver and Gold Buy?
http://www.gold-silver.us/what_silver_gold_buys.html
Exactly..nice link Joe.
I loved this line at the end: "A family should probably have the equivalent of 1400 ozt. silver or 1400 grams of gold (45.0 ozt), or a combination to make it through the first year of a currency collapse as a minimum."
When I read that I giggled, there is not enough silver above ground to do this for the people living in most states in the US, let alone everyone. Checkmate.
Here is another link backing this up in a similar but different approach: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2010/8/19_Be...
Must be a hell of a spendthrift if $60,000 of gold is only enough to get through the first year of a collapse. That amount seems more like one would spend to buy your whole neighborhood and wall it off as your own little duchy.
less than 1 oz of real silver available for everyone on the planet - and I've got at least three ounces so two of you don't get ANY!!!
Actually, silver is leading the way...
I'm aboard...
Me too... core position in phys metal of course... but took this gamble last week and its doin good.
http://finance.yahoo.com/q?s=SLV101016C00021000
Indeed, just as it should be.
For many years it was argued that silver could not be manipulated for any length of time because the market would seize any discount created and trap the shorts. Instead, many people discounted that any supply imbalance could exist and chose to accept estimated production and inventory numbers that were widely inflated to explain the low market price for silver.
It should be noted that it was mostly smaller speculative interests on the long side for silver. Since the Hunt Brothers were made an example of in 1980 the larger buyers have been discouraged from taking a position in silver.
Buffet made a temporary splash to get in the silver market on a large scale but then he too mysteriously sold out early in the move and for an investor with his legendary skills, one must wonder what may have gone on behind the scenes to prompt him to abandon what has since been a profitable move higher.
On the short side, there is no room for debate. Large players have been active to amass a huge position that is far greater in magnitude than the interest accumulated by the Hunts in 1980. Yet no regulatory enforcement has been directed against those short.
And for the actual consumers of the metal, there will not be any complaints with a low silver price nor any reason to rock the boat or end the manipulation. Lower silver prices are great for industrial consumers that face narrow margins in an inflationary environment.
We have mostly smaller players that want to see silver go higher, and a large entrenched opposition that operates with the blessing of a biased regulatory agency to dictate the terms of the market action. Is it any wonder that silver has been contained in price even as the supply contracts?
The low silver price for many decades has acted to limit exploration and development of new silver resources. Silver is mostly produced as a by-product of other metals. So in time this has worked to undermine the price manipulation that could not be resolved by speculative interests. We are seeing this right now in real time.
The stressed huge short interest against silver is now drawing in the sharks.
For the first time in many years, large spec-players have entered the arena on the long side.
This is exactly how a dynamic market should correct price imbalances, however that normal market function was held at bay by the corrupt regulatory regime.
The finality of dwindling supply is driving market performance.
Today we saw silver under pressure in the early hours of trading and then some very strong buying appeared to reverse the downtrend. It certainly appears that someone is lurking in the weeds waiting for the Cartel to try and pull their usual scam to drive silver lower and run the specs.
They were met head-on by heavy buying.
The inventory of silver at the COMEX is impacted by regular drawdowns and retail outlets for silver bullion continue to report high demand and often a shortage of bullion supply. It is becoming very difficult for the short interest to pretend that abundant silver is available to justify the low market price for the metal when just about every other commodity has gone much higher in recent years.
The perception of the silver market is set for a profound change.
When the shorts fail to contain the price, it will encourage more retail spec buying. When the market comes to understand that silver is not abundant, and that actual world inventory levels are in severe decline, then the race to buy real bullion will further undermine the ability of the Cartel to restrain the price.
The endgame for this intervention is directly ahead. Not heard of a single silver default for an industrial consumer... YET!
Any hint or threat of silver supply problems will immediately encourage silver users to begin aggressively acquiring and stockpiling the metal...
...the final nail in the coffin for the Cartel.
Combined with renewed spec buying, and short covering from the smaller players involved, the rush to buy and take delivery of real silver bullion will swamp the paper market and rapidly drain inventories. Prices for a product in high demand with limited supply MUST rise sharply to correct years of imbalance. Even then, it will take many more years before large new silver production can begin to meet the rising demand.
It is too early to tell if this endgame is now. It is inevitable that the physical market will trump any paper intervention, no matter how coordinated and powerful.
Now for the first time in decades there is a block of buyers on hand that is willing to step up and challenge the entrenched short interests, and there are no convenient large stockpiles of silver to help thwart this new demand.
The IMF has no silver to mobilize. The Central Banks have no silver. The documented bullion held in worldwide inventory is not sufficient to last for even a small amount of real buying pressure.
Can you say game on?
Mexico Mike @ www.smartinvestment.ca
............................................................................
Visited the Canadian Mint in Ottawa, on Saturday August 28.
Very interesting tour. After the tour we visited the boutique (gold and silver store). The mint had NO silver maple leafs for sale! The sales girl said they wouldn't have any for weeks! We are getting very close to a massive silver shortage!
Viva LeMetropoleCafe !
DOW's got a little 30 point stick save goose from Bernanke, big deal who cares? Probably all be red by close.
lets not forget crude down almost 3% today
Thanks for the reminder.I had betta getta checken the ol' Gold/Oil ratio as its been quite a while since i last checked.
BTW,Natgas looks cheap here.Technicals & other metrics indicate oversold condition.
the gold/oil ratio at 17ish is suggesting dump gold and buy oil no ?
its cheap to store gold. not so cheap to store oil.
Hmmmm,better at <15.Ratio range 12-17 over 12 months.Natgas still looking pretty here.
or to trade into silver.
Moin from Germany,
add these chart to the mix..... ;-)
The Comex gold inventory jigsawhttp://ftalphaville.ft.com/blog/2010/08/31/330646/the-comex-gold-inventory-jigsaw/?updatedcontent=1
Thanks for the link!
Silver, less affluent bitches!
+100 Classic!
+1000
That's got to be my favorite use of the phrase, to date!
+100
not to mention silver
Very nice. I can here a whole world of people saying fuck it to the current financial/fiat system. When will the first big player make a move to go long bullion (or close out huge short position)?
Have these people forgotten that gold is a barbarous relic? We need to put our faith in our fuedal overlords.
The price of gold is arbitrary.
I wonder how many have actually gone back to the beginnig and worked their way forward?
http://www.usagold.com/goldtrail/archives/another1.html
Thanks Rocky. Can I have
Another?
I think I actually found this series through one of your postings here. Thanks for that. Extremely helpful in caulking the cracks in my understanding.
Just don't let him in your kitchen.
http://www.youtube.com/watch?v=0DfGf4M3QZo&feature=related
G O O D really good heph
"Looks like he completely destroyed my kitchen..."
Not hardly. The range and fridge went totally unscathed.
Almond my ass, I'd have had your finger for dessert.
"I hate you!!" Yeah, how 'bout another almond.
You ain't seen an Angry raccoon! yet.
i have seen badger's. now they are one mean MF animal. once on my property and once while riding my bike, he was in a ditch. they are low down mean fuckers.
i had a mother bear on my property, but never let her in my house. but bears really do damage. all the dumb rich people in the mountains can't seem to figure out how to lock their doors and damn the bear just rips the kitchen apart, cars too.
Bagers are not mean. They are hyper aggressive. It caused a lot of problems between settlers and badgers because they just didn't understand that it's mostly show.
The saddest thing has to be prairie dogs. Their holes are not a tripping or accident problem for cattle they are for humans though beause we look up when we walk.
oh please don't get me started on prairie dogs or Wyoming squirrels or something they are called. they are going to take me down on these bike paths. this is prairie dog assisted living. heph you have no idea how hard it is to kill prairie dogs. i use to drown them. shock them. bad me.
He loves that racoon. Some of the clips are just show. I like the deadman one in the cage where he's all sad in there biting on his teddy bear and the cat whisperer one.
funny story, legend or myth. like 5 years ago, on my road, twining flats rd. was found obnoxious weed, leafy spurge showed up. bad weed, really B A D. well legend has it, blamed on hunter s thompson driving from lenado rd in woody creek to visit ed bradley, all the time on twining flats, slum of aspen, as ed called his road and loved it. all the residents said hunter had it on his underside of his shit old chevy? (car in fear and loathing) spreading the weed. blame it on the good doctor. silly story probably. we all had our pests, haunting us human species.
LOL. Do you ever have to run from dogs when you go cycling? I used to have a black lab that would give me a good chase. I played the game for a while then stopped and befriended him because he started getting a bit too INTO it. LOL
go a w a y
LOL. You are such a psycho.
we have to be careful with using that P word in conjunction with my real name. well it's complicated, but it involves deposition row.
Unlike equities...
I guess we won't see Robotrader today.
or JB
err, I stand corrected (see below), and stop looking at my junk, that's not what I meant.
Regards
All summer long, I was waiting to buy the dip. Yesterday I got tired of waiting and pulled the trigger. The silver streak is mighty impressive too.
Chinaski, that is similar to what I did. I bought DGP on that last dip three weeks ago, sold at resistance, watched AU advance slowly and steadily through said resistance the last two weeks, and loaded up again yesterday; this time for the longer term.
Sometimes you just buy back in higher.
Just do what I do: when you get money, use part of it to buy gold. I have been doing that for decades. Sure I look at the price, but it really doesn't matter. Gold is a bargain under $1500.
Buying silver and platinum OK too.
I am Buying platinum too !!!!!!!
Careful, DGP is really for trading-especially if gold gets more volatile. Ya gotta think the banksters will keep up their "gold/silver price management" program-until they can't..
...until they can't?
Hello? The cartel has been getting it's ass kicked for a decade now. Looks like a major ass kicking is still in the works, yo.
Siding with the banksters just doesn't look like a very smart move.
It's a fighting withdrawal. They know where this is going. Hell I'll wager that a lot of the big boys will end this sitting on a pile of hard assets while the paper burns. There is still wealth to extract so they will fight the rise of the metals so long as it can be done. Indeed before it pops I expect a solid push down in the price of the metals so there can be one last filling up on the cheap.
I think you're 100% right on the money.
I think you're 100% a douche.
http://www.youtube.com/watch?v=VLnWf1sQkjY
Your boss JonNadler was looking for you earlier JB.
Said he didn't think you should have predicted, you know, a real number like $1220. But, you did, Bravo to you.
I think I want more gold 100%.
Yeah, he's right. I should have been predicting S&P to 450 and gold to 54000.
Then I'd be more credible. Those are more realistic.
Yeah, more credible than saying gold is going to $900.
How does central bank bought gold?
They only tease ya cause they like ya. We're all glad you're back, JB.
Speak for yourself, you.... you.... arborist!
john O you and me most junks for nothing.
money for nothing and junks for free.
That's the spirit Kathy!
F U
I still get the most! I'm obviously the coolest! :)
But you're the second coolest...
i am cool with that, JB.
Oh, goodie. A race to the bottom. Good luck to you both.
Okay JB; since you know more than the rest of us poor deluded souls...
What will the price of Gold be on December 31, 2010?
If you have to ask you can't afford it.
Can't as in- there is no more physical gold/silver left to short with paper. Anyone taking physical delivery is another nail in the paper cartels coffin. I was referring to his holding a leveraged gold ETF as the paper games continue... till they can't
the banksters are the best money makers on this planet - to think they will lose on gold and silver is silly
read the archive at Jim Sinclair's site (jsmineset.com) - look for 'short of gold derivative'
when the suppression of the paper gold and silver markets ends (whether through failure or design) the banksters will exercise these derivatives and end up owning the gold and silver mines that they provided financing for
the massive short positions the banksters hold in the paper gold and silver markets are chump change relative to the value of owning all the mines from which these metals flow
Hmmm, they can't? That same cartel stopped the death spiral of the Euro at 1.1896 and took it to a balmy 1.33 in six weeks! It was if Europe was fine overnight! And, to think that the cartel won't punish your silver holdings if it means their power is at stake!
You're talking paper, I'm talking real physical money....Check Ebay...
I bought july 27, absoloute bottom
...of 1999? That's when I was buying. My bottom looks better than your bottom. Na na na na na.
Yeah, but it's so hairy. And your tail gets in the way.
Rocky, you're gloating. Good for you getting in early, but give new converts some slack...
I was only taunting 10044. There is no "bottom" in gold, just "price" differences.
The markets had better close GREEN since The Messiah is blathering this evening. He will not be happy if the DOW closes below 10K and gold/silver are spiking.
or there will be spankings...
with his putter....
FORE !!!
my exact sentiments, d o g†
Might as well put QE money into Gold and Silver before the exchange rate collapses.Will Switzerland fall through to the centre of the earth as the weight of all that Gold in one place subsides the Alps ? With computer consiousness a real possibility will one turn rogue and suddenly stop buying crap and start buying Gold and Silver ?
Check out Ebay (if you aren't already) for what people are really paying for gold/silver coins. Until recently, there were mainly auctions. I'm noticing more high price "Buy It Now" offers than true auctions as demand is increasing. I think folks are finally waking up and buying "Fire insurance". At least those that have any spare FRN's.
A premium for some items:
http://cgi.ebay.com/1-oz-2010-Gold-Maple-Leaf-Vancouver-Olympic-9999-RAR...
Do it the easy way:
http://www.goldprice.org/ebay-gold-prices/
That's a great link, thanks!
30% premium on silver...hmmmm...
Even a year ago I was finding spot deals on ebay, or below spot, now...not a chance.
You still can. Just wait for reductions in spot. You'll see lots with few bids that you can pick up at better premiums. Try using a bid sniping service like https://esnipe10.esnipe.com/. That's all I use and set bid times to 7 seconds before closing.
anyone hear form that lil bitch Johhny Bravo....what a freakin moron he is...
Don't you know, that chicken$#!t only comes out to gloat when gold is tanking. Its the only time he has a fraction of a shred of credibility.
As we all know, there are no serious major arguments against gold at this time (eg, central bank dishoarding, multiple new large discoveries, a return to a stable world economy), so the only time to plant a seed of doubt among the weak hands in when gold is falling off a cliff.
I'm just done talking to fucking idiot goldbugs.
There are a lot of other interesting articles on this site that explore more relevant topics than "GOLD BITCHEZ!!! WHEN GOLD HITS 54000, WOOHOO!!!"
Like Krasting's FASB article yesterday.
I'm just too intelligent to respond to these gold pieces anymore. Gold bugs are a bunch of Glenn Beck mouth breathers that are going to get slaughtered.
If anything, I'll be in more "sophisticated" topics.
Gold went up 15 cents isn't really sophisticated. Half of you fools don't know your ass from your elbows.
I made more money in two weeks of trading in April than you people have made all year!
And aside from that, I'm actually getting educated, which is something foreign to so many gold bugs.
I'm enrolled in six classes. I don't have time to argue with people on Zero Hedge all day, like the unemployed conspiracy theorists in the gold bug threads do...
Well Johnny, you did miss the top by $30.....
http://www.youtube.com/watch?v=VLnWf1sQkjY
Oh no! 4%! Wow!
This time next year it'll be up 40%, and you'll still be yammering about how it will plummet...to $1500.
But then, you're never wrong, are you JB? Just off by a few percent, and a few months. Eventually it'll be a few dozen percent, and a few years, but you will still claim to be right.
So at what point are you wrong, Johnny?
I said I was wrong.
Where were you admitting that you were wrong when it drop 100 bucks the last time?
Oh wait, you were totally gone. Didn't even see you OR your alter ego akak.
At least I have the balls to take my lumps.
As for 1500? LOL. Not anytime soon, dude.
Then again, I've been hearing on this site that it was supposed to hit 2000 by June. Tomorrow is September.
Unlike you, I don't have any alter egos, and I use my real name to post. I have never been gone from these forums except when I have been traveling. I post basically ever day, so pull the other one.
Also, funny that you can't see the trend in gold. You think that a 10 year trend is going to stop because you say so? Good luck with that. 30% appreciation in the last 12 months, mate. 30% the 12 months before that.
Of course, I don't know what the price is going to be in the future. No-one does, except for you, apparently (snicker). All I know is that it is going up, and any other vehicle for investment is heavily exposed to fiat currency, all of which burns quite easily.
So yeah, enjoy your 100% loss on your theoretical portfolio when you are caught by a banking holiday. I say theoretical, because I know you're lying about havng made money trading, Johnny. If you had made money trading, and were as good as you claim, you wouldn't be going to school to become an accountant.
30% appreciation in the last 12 months? Not really.
How is going from 1220 to 1250 30%?
It's been almost a year since it first hit 1220, dude.
Now it's 1250.
That's like 4% Not 30%.
You don't know what I've done in my life. You don't "know" shit about me, and your post just proves that even more. Sure I made money trading, but I don't think I can always make a living that way.
I want a profession because it's the goal I made for myself a long time ago.
Trading is merely a means to get there. I can't make a good living trading. Not with 7000 bucks to invest. I don't really have a lot at a time to invest because I'm always paying the assholes at school like 15 grand every time I turn around.
I can't make a good living wagering small amounts.
I don't make any kind of long term trades. 10 years? Ha! Shit, I don't keep a position for more than a week usually.
What I can predict is near term action, and even if I'm wrong, I use stops.
If I'm not wrong, I make money. It's easy.
I don't hold and pray, and I certainly don't guess very much. If I do, I take a minor kick and that's it.
The most important thing about trading is knowing when you're wrong, not always being right.
You people don't seem to understand that.
It's not about always making the right choice. It's about getting as close as you can to making the right choices, and being stopped out when you're wrong before it hurts you.
$1450 by Feb. 2011.
Less than 6 mos. from now.
Book it.
dupe.
doh!
Johnny my offer to tutor you still stands. 6 classes is a lot of work. Make sure to get permission from your mother first because my fee is 900/hour.
I don't need a tutor. I'm number one in my class.
I tutor vets for community service for my fraternity pledge.
Like I said... 4.0. Dean's List. Academic Achievement Award.
I don't need some douche on ZH with no education to tutor me.
tutor vets? HA HA HA HA HA AH
come on Jonny just get a new name and start all over again. When you get to the "I tutor vets" routine you might as well get a new name
how's Jonnyculo
I do asshole. I have to for my Beta Alpha Psi membership.
tutor vets? HA HA HA HA HA AH
come on Jonny just get a new name and start all over again. When you get to the "I tutor vets" routine you might as well get a new name
how's Jonnyculo
Hey Jizzer, where ya been?
http://www.youtube.com/watch?v=VLnWf1sQkjY
At school, learning real things. Then I stopped by your wife's motel room for a quickie.
Not posting on zero hedge, making up fake conspiracy theories.
I bet it was a quickie. Did you jizz in your pants when she whispered in your ear? BwaHAHAHAha. Fucking pup.
http://www.youtube.com/watch?v=VLnWf1sQkjY
No, but I jizzed in her butt after she told me that I was way better than her fatass limpdick husband who posts on ZH all day.
You like to fuck the ass ?
I have more class then that.
Only whores...
You must be young, and inexperienced....
ahh, what it was to be ignorant...once.
you said you were done talking to us goldbugs ...
she squealed like a pig, ... And your wife... moaned like a whore when they ravaged her again and again.
"They"? Are you throwing in the Johnny's frat brothers now?
Frat pledge? Do they still do that?
F U
R R
you're done really? aaawww, don't be sore Jonny am sure gold will drop 5 dollars tomorrow and then you can make a really big deal of it HA HA HA HA
I've never been laughed at by people that bought something when it was 4% higher than market price before.
Buy at 1300 and sell at 1250! That'll show em! LMAO!
http://www.youtube.com/watch?v=VLnWf1sQkjY
"I'm just done talking to fucking idiot goldbugs."
Such an eloquent well-worded generalization. Some of us prefer to be referred to as "anti-fiat bugs", or "last asset class standing bugs".
Is the above statement one we can hold you to?
Yeah, for now.
Just stop talking about me constantly, and you won't see me post in these threads. It's that simple.
For now, I'm off to do homework!
I have a #1 in my class ranking to protect.
Ya, you ARE tough to ignore, and fun to talk about.
It must make the really old ZH hands rather perturbed, to say the least.
I really don't know how you keep up with all the responses, counter-responses, etc.
How are the chicks in your class? Any hotties?
I just go down the line and look for my avatar, responding to people that respond to me.
Yeah, there are some hotties in my classes for sure. I used to take more online classes, but I've been going to campus more because all the chicks are hot there.
Hey Johnny. Any idea's why gold is at 1240.00? Any chance it's about failed monetary policy, or national debt that can never be repaid without massive currency debasement, or an accelerating loss of confidence in the world reserve currency, A man of your sophistication surely can help us see why paper is the answer...
Speculation by conspiracy theorists.
http://www.youtube.com/watch?v=6TdhyZ9rBEY
i always get it wrong
Interesting times indeed as the HUI is running into resistance at 500 now and soon enough we will know if this will be a breakthrough or headfake. The paranoid part of me thinks that if the cartel cannot manage the gold price down through normal means then maybe an equity market crash can perform the same function.
Nope. Not when most of the cartel honchos have bought gold too. Different times from 2008.