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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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Every time the market tanks gold dips then recovers. Ultimately it will hold on and go higher.
If it breaks the previous highs, 1304 is the next target.
What happened to 900 and we were going to lose our ass?
Douche.
http://www.youtube.com/watch?v=VLnWf1sQkjY
It never hit its 1304 target from the previous H&S bottom, douche. I've always said it could go as high as 1300 before it falls.
It will hit in the 900s again. I don't know when, but the charts guarantee it.
Can you provide a timeline for my 900ish call? Nope. I never made one.
I don't know when it will get there, ColonelSanders, but it will.
And you're a fag for posting the same video again and again.
lol, what a worthless fucking call, then. If there is no timeline, there is no prediction.
It doesn't matter for the "hold and pray" investor, does it?
When it drops to 900, you'll feel like a tard for buying at 1300.
Even at 1250, you're still down if you bought gold any time during the last year.
Buying at 1300 and selling at 1250 does not make money.
Even at 1250, you're still down if you bought gold any time during the last year.
Not a good one Jonny. Stick to if you bought gold at 850 you lost a lot of money routine
http://www.youtube.com/watch?v=VLnWf1sQkjY
No you were going to go to hell and your girlfriends were all going to leave you and you were going to cry night and day and everythign horrible in your imagination was going to come true because you were WRONG! Gold was going to do everything horrible you could possibly imagine just because you bought it and were an idiot.
"If it breaks the previous highs, 1304 is the next target."
Oh Johnny. I hope the English Language is one of those 6 classes, maybe a seminar in Classical Logic might help too.
You were just telling us how Gold was going down a few weeks ago. Make up your mind douche bag.
Maybe you never read or understood that the markets change.
I can admit when I'm wrong.
Yet, when I'm right, it's like *crickets chirp.*
I'm getting my CPA, and I'm a math minor. English language in my internet posting is not a primary concern.
Hahaha, Johnny, I thought you were a super genius or something. I thought you made more in a week's trading than anyone here does in a year? Why the fuck are you studying to become an accountant? Take your tuition money that you claim to have in cash and invest it all and become a millionaire, you fucking genius.
I am. I turned 7k into more than 50k already paid in tuition, and still have about 15k of that in my checking account.
I will turn that 15k into more living expenses.
SOooooo, the majority of us here make less than 50K? Plus Fuckerstick, last week you claimed it was 75K. Were you lying then or lying now?
Don't feel bad Jizzer, I had a Social Studies experiment in 7th Grade where we had to pretend buy stocks too. I turned like 5k imagibucks into 500 quadzillion. Someday you'll get to lose money for real.
http://www.youtube.com/watch?v=VLnWf1sQkjY
Okay, so I paid 50k in tuition. I still have 15k. I spent more than 10k on living expenses.
How is that not (more than) 75k?
Perhaps if you learned how to even remotely form a sentence in a way that got your point across, people wouldn't be left feeling confused.
http://www.youtube.com/watch?v=VLnWf1sQkjY
If you can't read English, it's not my problem.
I wish you at least had some integrity - you promised that you were done talking to us goldbugs and yet you blather on about how wonderful you are - please stop, my fragile ego is suffering as I compare myself to your awesome accomplishments
WTF you mean your getting your CPA? CPA is not a fucking major you dolt. It's a test. A test my cousin failed once and boy did he get ribbed. You see because my extended family is loaded to the gills with CPA's.
What is hard to understand about that?
I'm fulfilling the educational requirements for a CPA. I need 150 hours before I can take the exam. I'm getting there.
You should get a masters in taxation. With extra courses on what to do when someone says FUCK YOUR TAXES.
simply put, your a hard ass. just a H A R D ass, know it all.
No I'm not. I'm a really soft sweet gentle kind person. Covered in a very shrewd very understanding shell. Knowing it all is a poor substitute for understanding what you know.
"If it breaks the previous highs, 1304 is the next target." so when it breaks the previous high you're in for the rally to 1304. right!
I don't trade gold. It's boring, and slow.
I make more money on FAZ and FAS when I feel like it, and they're easier to predict as well.
Oh, and VXX, although I haven't traded that lately because the VIX is fucked.
YOu only make money when you "feel like it"?
Your aloofness is Super Cool. Bet the chicks just love you.
http://www.youtube.com/watch?v=VLnWf1sQkjY
Or, I guess I could hold gold for a 4% gain all year.
That sure beats making more than that in one day trading, I suppose.
^does that sound like a bubble to you DUMB ASS ?
Yes.
On both counts.
*
Johnny meets a girl in a bar. He's telling his friends about her and claims she's boring and slow in bed.
Here's what really happened.
http://www.youtube.com/watch?v=VLnWf1sQkjY
The warriors have returned from their gang meeting in the Tetons and are back on the defensive. Too bad they are backed so far into the corner that now it's only a matter of time.
http://www.youtube.com/watch?v=u05Qot_yh9c
Comex Gold Rallies on Bargain Hunting, Weakening U.S. Dollar
During the hyper inflationary period in Weimar Germany one woman spent her life saving on bed pans. Gold and silver were not available at any price... Her thinking was that at least she'd have SOMETHING to show for her labor!
That was Einstein's aunt.
BUT he owns physical gold and mining stocks.
In an interview of Toussaint on Canada's Business News Network (BNN). Touissant admits at the end of the interview that he owns physical gold but does not mention that he owns any GLD. Here is the link to interview -
Toussaint = The Big Whiff The relevant comment starts at the 5:44 mark. The 10-K linked below confirms that Toussaint indeed does not own ANY GLD shares.
But there's so much more ... listen to both parts of the interview. Let's get the basics out of the way. Jason Touissant is the Managing Director the GLD Trust and principle executive officer World Gold Trust Services, the sponsor of the GLD Trust. All of this information can be gleaned from the GLD 10-K, which linked here:
GLD 10-KNote that on page 76, as Jeff Nielson picked up on from the BNN interview, that NO officers and directors of the World Gold Council or of the GLD Trust own ANY shares.
No insiders own shares. Why would that be the case?
If GLD is as good as owing physical gold, and is fully backed by physical gold, why would Toussaint admit to owning his own physical gold, but not express confidence in the fund that he oversees by owning some the stock in GLD?
NEVER own any mining stocks in a fund in which insiders did not own a meaningful amount of shares. In fact, with junior mining stock holdings, insiders typically own 10-20% of the company.
Now let's get to other interesting aspects of the interview that Nielson did not cover. At the 4:25 mark in Part 2, Toussaint makes the statement that the bar auditor of GLD audits the bars twice a year and physically handles each of the bars once per year. HOWEVER, the auditor, Inspectorate, only looks at the bars in the HSBC vault. As per the prospectus, HSBC has subcustodians with which there is no formal contractual agreement and the prospectus specifically states that no one can have access legally to the subcustodian vaults. Here is the latest inspection report from Inspectorate, the inspection firm: LINK This particular report describes the semi-annual random sample audit.
This is great that an inspection firm goes into the HSBC vault and samples the bars for authenticity and serial numbers, but what about the bars that are at the subcustodians?
You are asked to believe that Inspectorate counts all 104,325 bars (the number of bars that would be in the vault as of 8/26) and verifies serial numbers and stamps and reconciles them with the Custodian's records? You believe that?
The annual audit is another statistical sample BECAUSE no one is allowed to have access to the subcustodian vaults. In fact there have been articles in the recent past which have demonstrated dozens of inconsistencies at GLD and SLV between the actual serial numbers on many of the bars and records kept by the Custodian of each Trust.
Finally, Toussaint makes the statement that the bars are held in allocated form, meaning that within HSBC's vault, all of the GLD bars are placed in a separate holding area and the shareholders of GLD have direct claim to those bars. If HSBC blows up, something that is within the realm of possibilities, the GLD Trust gold is not part of HSBC's asset/liability list.
HOWEVER, the prospectus specifically states that gold which is being transported in and out of the vault and the gold which is being held for redemption by an authorized participant exchaning a minumum of 10,000 shares for bars in the Trust, sit in unallocated form. And the bars at the subcustodian are in unallocated form.
The significance of this is that if HSBC blows up, any unallocated bars become part of the claim of the general creditors to the HSBC bankruptcy proceedings, and the GLD Trust has to stand in line with all of the other unsecured creditors to receive payment, if any, on its claims.
The Prospectus specifically states that, in the event of an HSBC bankruptcy, unallocated bullion bars could result in material loss to the Trust.
Perhaps this is why no World Gold Council officers and directors, and specifically Jason Toussaint, the Managing Director of the GLD Trust for the WGC, do not own any personal shares of GLD.
They know the Golden Truth.
Viva LeMet !
I had read about that but there is also someone from WGC who replied that while Toussaint didn't say he owns GLD that did not mean that he doesn't own GLD. Here is a link to what I refer and the comment is at the bottom from David Schraeder of the World Gold Council:
http://tiny.cc/if7vq
I don't know if it is true nor if this person is really the PR rep and seriously I don't think it matters as if you own the ETF you will likely get burned and never have the physical gold that you may think you do.
Were there a global financial collapse, with wall street firms imploding, and the Corruptocratsicans in Washington D.C. run out of town, and the federal government shutting down, does anyone really believe their stake in GLD is going to be worth more than your dog's last poop on the lawn?
Mark this:
When people discover (and this day will come) what the FED does with money (buying everything and promoting any kind of programs with worthless dollars) Gold at 1250 would look like a drop on the ocean..
Hedgie managers are putting huge junks of their personal wealth into physical. They just love the stuff.
Where is Johnny Bravo and his amazing call a few days ago that gold was topping?
No, no, he's still "right". Or so he will claim.
I've yet to see this $900 gold he keeps talking about.
It's locked in the credible threat of impending gold dump from empty coffers vault.
http://www.youtube.com/watch?v=LopVgmX7k64
Hey Heph, I watched that movie you mentioned. I had seen it before... Came to the same conclusion as I did when I watched it as a kid - Why didn't Adso stay and spend the rest of his life civilizing that savage... what a beautiful ass she had when filmed squatting. Shoot me an email sometime - i have questions. frank_owen@hushmail.com
what kind of questions, frank? let's pull this out into the open. what is with all you and HUSH MAIL?
He has a line on a virgin unicorn. Shhhhh, it's a secret.
i am not falling for that one again. the unicorn. i get it. the horn and all. damn it, it is not fair. really, what would U, B doing in my situation? i don't care anymore. i am living life as it comes to me.
enjoy s p o r t.
Well, it looked like it was going to until it broke out.
What do you want from me?
I also said that the Dow was going to be up the day before it went up 165 points. I don't hear anything about that call though....
I realize changing conditions and act according to them. I'm versatile. I can admit where I'm wrong, and don't get married to any financial position. These things separate me from the "GOLD TO 54000, S&P to 450 BITCHEZ" crowd.
And why is it that every time I'm gone, like 500 douches talk about me?
I guess if I was unemployed with nothing else to do, I'd be asking where Johnny Bravo, superstar, was as well!
http://www.youtube.com/watch?v=VLnWf1sQkjY
ColonelCooper likes it up the pooper.
See, I'm much more original than your fat douche ass.
Maybe more original, but not nearly as funny.
http://www.youtube.com/watch?v=VLnWf1sQkjY
Plagiarizing somebody else's work over and over doesn't make YOU funny.
It just means that you can copy and paste a link.
I bet I could train a monkey to do that.
command X
I can admit where I'm wrong,
When will you admit that profit and growth are possible without inflation and that the slight deflationary trend during the Industrial Revolution in 19th century America proves that fact?
There wasn't deflation during the entire period. Just during the economic crisises back then, when the economy also contracted.
Inflation and deflation went up and down throughout the entire period.
YOU'RE wrong.
The economy expanded with inflation, and busted during deflation.
The only difference between then and now is that there was no manipulation to keep inflation going for 30 years at a time.
Deflation came when it was necessary, and growth stopped when it was necessary.
Prove that there was deflation during a year where the economy grew!
http://www.youtube.com/watch?v=VLnWf1sQkjY
Read the chart:
http://mises.org/images/SeanMaloneRiseFallDollarLarge.jpg
Thanks for the link that was a great chart. I'm not a financial person so forgive this question that a friend had: The gold standard was abolished in order to fuel growth of the economy. That is, fiat currency allowed the economy to grow faster than one based on gold would. I've read End the Fed and hold PMs but just wondered how those that know more about this stuff would answer. Thanks.
You never asked a question...
Unless your question is "Does fiat create growth faster than gold; and does that make things better and fiat better?"
Fiat can be printed on a gold standard it will just buy less gold. That is a slowing mechanism. And at least people know what the result of the manipulation of the paper is as it is in the open not concealed as monetary policy is presently. Unfortunately those that print the notes historically cannot control themselves nor their successors from massive printing and spending.
Oh and $1250 Au as of now.
Sorry I wasn't clear but you got what I was asking, that is Is economic growth slower in a purely gold/silver backed economy? Seems like steadier growth with less asset bubbles might not be such a bad thing. Thanks.
Yes. There is a finite amount of gold. There is theoretically a less finite amount of production.
There is more labor and resources than is practical to be backed by gold. That's why they abolished the gold standard.
The gold standard was done away with because asset backed money requires more responsible management than bankers and politicians are willing to undertake.
There were several stages to the the end of the gold standard, notably, the end of gold coin circulation and government confiscation of gold promulgated by FDR in 1933. This was done because the government wanted to reinflate the bubble that occurred in asset prices in the 1920s. FDR seized the gold and then revalued it from $20/oz to $35/oz. This allowed the government to print up more money for its reflationary schemes. Other aspects of this plan included buying food from farmers and destroying it in an effort to increase prices despite the fact that millions of Americans were starving to death.
In 1944 the Bretton-Woofd agreement set up the US dollar as the world's reserve currency by promising to use gold to back international trade. By 1971 foreign governments were demanding too much gold and Nixon "closed the gold window," severing any link between the dollar and gold which lead to the inflation and stagflation of the 1970s.
Inflation can be used to initially goose an economy into creating more jobs but this method always fails as this easy money leads to malinvestments which can not stand when inflationary stimulus is removed. It also leads to a marked decrease in the value of saved money which pulls the rug out from under working people when they discover that their retirement savings have lost a significant amount of purchasing power.
In an innovative economy based on a gold standard deflation is the norm. The amount of gold increases slowly while the amount of goods increase at a greater rate due to technological improvements and innovation. This causes the value of money to increase and prices to fall. People like this but they do not like the fact that they see their wages fall. They mistakenly believe that they are earning less than they did in the past, and while this would be nominally true, the greater reality is that even with lower wages the purchasing power of their wages has increased. More importantly any saved money becomes more valuable over time. This lead to an increase in the desire to save which leads to greater investment as saved money is loaned by banks to entrepreneurs. These entrepeneurs create new and innovative products which tempts savers to spend some of their savings thus creating more employment but does not lead to excessive consumption and bubble based economic woes.
The gold standard coupled with innovation and technological advancement is a self reinforcing system for economic stability.
When have you ever admitted to being wrong, Johnny? I've never seen it happen. All I see is whenever you post a number on gold, it's wrong. You've claimed that the purchasing power of the dollar relative to other currencies has doubled since 1985 when it has been cut in half.
Sorry, JB, but you're a liar, and a moron to boot. Enjoy doing your grandma's taxes, as that is the only job you'll be able to get with a CPA in three years (or today).
I said the purchasing power of the dollar was the same since 1985, you douche.
Don't make up lies.
DXY in 1985 = 80
DXY today = 80
That isn't cut in half, you fucking tard. It's constant.
Show me any post where I said it was doubled, and I'll buy you an ounce of gold.
I love how you make up numbers.
From the Atlanta Fed:
Date US vs 18 Countries
08/85 132.24
The range was between 125 and 141. I mean honestly, how fucking stupid do you have to be?
And sorry, you're right, I did look it up, and you did claim (falsely) that the USDX was 80 in 1985.
That only proves that you are persistently stupid, and persistently unable to look up actual facts, and persistently make shit up.
He does want to work for he fed. He has to qualify.
I had the date wrong. It was actually 1987.
I just knew that it dropped from 160 to 80 during Reagan. I thought it dropped to 80 sooner than 1987, but it was wrong.
Okay, so it's at the same level it was at in 1987. Big fucking deal.
JB honest how big is your C O C K?
JohnyJizz - it is a given that you are unemployed ...
You couldn't buy any gold if your life depended on it ... we all know that!
I have enough money in my checking account to buy more than 11 ounces, right now.
That doesn't even count the money in my trading account.
Only puppies and wannabe's brag about their bankroll. Might as well tell us all how big your dick is and post a link to a photobucket page showing your "ultrahot" girlfriend. BWaHaHahahaha.
http://www.youtube.com/watch?v=VLnWf1sQkjY
Well, if a douche says I can't afford it and I tell him I can, it isn't bragging.
Ah yes, there is one cheery board at ZH this morning.
Caution lads; we have been here before. Think long-term. The AU price is managed, we know that.
Sure, gives us a chance to top up. This week feels different, something's up. Won't be long now.
I feel the same way. Danger around the next corner, behind that tree.
Get diverse, spend less. Batten down the hatches. Big storm ahead.
Yes.
If you had been a Roman patrician living in the fifth century and bought gold:
You could only smile as your store of wealth increases daily as they continue to debase the currency and everyone else's buying power crumbles.
You could take comfort as the government makes one bonehead mistake after another trying to maintain a decaying status quo.
You could feel safe that your gold is accepted everywhere and anywhere in the world 24/7. Even barbarians were not so barbaric when it comes to gold. After all, they were only seeking what they had not.
After the final collapse every option was open to you, including buying out gigantic properties anywhere in the former Empire from ruined, gold hungry ex-honchos who bought into the lies.
Until that same roaming horde of barbarians came to sack your estate and take you into captivity. Great for the eventual treasure hunters that found your stash one day.
However, the term "barbarian" isn't even appropriate. The same "barbarians" that were blamed for the downfall of Rome were the same barbarians trained and paid for by the Roman government, most likely using Roman weapons that were given to them. The leaders of those barbarians were just as cultured in the Empire as any Roman aristocrat.
Kind of like how the US government trained and funded Bin Laden and then were shocked when he eventually used that knowledge and funding against them.
The Roman Empire, at least in its non-Byzantine form, fell because the people lost their will to even care if it stood or not. The Empire was able to stand strong with even ruthless, incompetent dictators as long as the will of the people remained strong.
The current fiat system cannot die until the mass of the people lose their will to even care if it stands or not. It doesn't matter how much they print..trillions, quadrillions, etc. Deficits won't matter. It will stand until the mass of the people finally accept reality that their lives won't be any worse off in the long run if it fails.
When you have gold, you can hire guards, or even your own barbarian hoard.
After the first sack of Rome by the Visigoths (I don't count the Gaulish sack, as that was 800 years prior), Romans who fled with their gold were able to come back and buy up all the land at firesale prices. Life was not bad, especially under the Rule of Theodoric the Great.
Exactly.
Unless some numb skull goes all nuclear and radiates the land.
That's the real Mad Max scenario.
That won't happen until the dollar is dropped as the reserve currency.
Then... KA BOOM!!!
http://www.youtube.com/watch?v=VLnWf1sQkjY
How fucking original.
I wish I could be a fat unemployed douche that can't see his pecker when he pisses and post youtube videos all day.
I mean, it's even the same video. I haven't seen it, but can tell by the URL.
we all know you've seen it johny.
Seen it ... he wrote & starred in it!
Here's Johny ...
http://www.youtube.com/watch?v=VLnWf1sQkjY
Hey coop,
Thanks for getting rid of the hemorrhoid ...
Did it pop when he was doing you in the butt?
Whoops, he's back. And irritated.
http://www.youtube.com/watch?v=VLnWf1sQkjY
Market driven surveys are becoming a disgrace, and the consumer attitude report is one of the worst, bouncing back and forth throughout the year, defying logic on how consumers change their minds at every whim. These surveys often support Federal Resrve statements that we are in a financial recovery. Will the Fed, apparently now entering the research survey business, be giving us an "in-depth" consumer attitude study?
Will it begin telling us how consumers “really” feel; another trick to infuse optimism in the economy? For example, will the “San Fran Fed” now do a study showing consumers to be upbeat on the economy after its pro-immigration study, so shamelessly applauded in yesterday’s post?
It was not enough that the Fed controls the currency (sets the rate, gives to its friends, denies to its enemies, and prints as much as it wants in secret), but it now maps out social policy for every aspect of our society. With Americans rebelling against the wave of illegal immigration and uncontested legal immigration that is enveloping America’s labor market, the Fed uses tax money to beat down these concerns. Nevermind that the study is unbelievably flawed.
Hardworking Americans have had it with this social engineering. Case in point: the arguments over Arizona’s SB 1070, the immigration bill that allows Arizona to prosecute immigration violations. A CBS/NYT’s poll taken four months ago found that 60 percent of Americans supported the law or felt that it didn’t go far enough. The latest CBS poll, just being released (after Obama’s punishing lawsuit against Arizona), finds 59 percent of Americans view the bill as “just right,” while another 14% think the bill does not go far enough.
This is not just Arizona opinion; this is American opinion on immigration. With the Fed having its hands around the throat of America’s financial health and controlling the nation’s social and political life, it’s becoming difficult for freedom to breathe.
"They" are obviously scared shitless of a Gold price above $1250/oz and are fighting it tooth-and-nail.
Fun to watch. Can't wait to see what happens when "they" finally fold and have to cover.
$1250 at the moment
Gold's previous all-time high back in 1980 ... $850 ... is constantly referenced as a benchmark.
In CPI-adjusted numbers that it equates to $2,400 today, give or take. Use Shadowstats numbers of real inflation since then and arrive at numbers closer to $7,000 or more.
What is not known (and never mentioned) is if $850 ever represented a true free market price.
Paul Volcker said it was a mistake to not control the price of gold, but what he didn't say was WHEN the decision to control it began. In all likelihood it began the minute gold hit that $850 figure.
There was certainly joint CB intervention to prevent a total dollar meltdown. The next 3 decades then began a systemic gold control aided tremendously by the advent of derivative products.
So the question is: what if that $850 number was NOT a real top?
What if a free market top would have been closer to $1,500? This puts current gold expectations in a different light.
If we had a free market top of $1,500 in 1980 even the CPI-adjusted figure today would be $4,200. The Shadowstats figure would be $12,350.
It is wrong to start with a flawed number ($850) and constantly extrapolate future expectations from it?
No matter what extrapolating is done gold must play catch-up for the decades of suppression.
This 30 year pattern of papering over all crises remains intact. Add to the mix ever-increasing modern sophisticated algo systems and the danger goes off the charts.
The continual piling on of untenable debt with the accompanying derivatives is reaching a tipping point.
Use Laurence Kotlikoff's recent figure of $202 trillion as a more accurate U.S. budget deficit number ... $30K gold is not only reasonable, it could ultimately be conservative.
There is a real debt ($202T) that is 15.54 times the official debt ($13T). If you merely multiply the current POG X 15.54 you have almost $20K as a real gold price.
The real fractional reserve gold ratio, including ALL derivatives of ALL forms, is possibly thousands-to 1.
A free gold price means knowing the ramification of ALL fractional reserve scams.
Price at this point is a matter of guessing what lengths the government will go to prevent social chaos. Printing ever-increasing amounts of money in conjunction with algo-driven derivatives is the road map to 5 figure gold.
GO GATA !
Yes but you have to add the hyperinflation.
When( Not if ) the gold price goes above $5,000-10,000 , dollar will crash, hyperinflation will begin, so the dollar will have no purchasing value, even the Squid team bring their last years 20 billion dollar bonuses they will not be able to buy a single once of gold with that money.
Pointless trying to work it out when the price of gold is arbitrary.
JonnyBravo, you idiot, I told you not to set targets, 1220 came and went and now? You should be like me, and change your positions and lie so much they won't even be able to keep up with the lies, half-truths and disingenuous logic. One more slip and you're gone.
And by the way, you can't eat gold
And you can't make jonnybravo eat crow. Stupid is a strong horse. It can be ridden far. You don't have to be humble if you won't allow anyone to humiliate you.
yehh
Ah, JonNadler, Bravo's boss over there at JPM.
Quite right to have told Bravo not to make predictions like gold at $1220.
You should make HIM pay for lunch tomorrow.
Unless, of course, he has Gender Studies class tomorrow...
he never pays, he's always broke!
Wow. I was wrong by 4%.
I made more than that in one day last week trading.
Okay, I'm wrong. So the fuck what.
So are all you "Gold to 2000 by June, Gold to 54000 in a year, and S&P to 450" idiots too.
Where are you idiots making any calls?
Oh wait, you're "holding and praying."
Yeah, that always works out.
I can't count how many times the advice on this website told people to be short during the 15 month rally.
Do I sit there and go "Oh, TD was off by 70% in April of 2009."
No. I make money regardless.
I don't trade gold because it's manipulated more than other assets.
"I don't trade gold because it's manipulated"
Ah-haah! So you do agree its manipulated. It's just one more tiny, itsy bitsy step down your journey to reality: If gold is manipulated by Central Bank selling their supplies then what happens when they run out?
Have they ever run out before?
What will happen to the price of Gold if they run out?
If it's manipulated, why do you buy it?
That's the better question.
They can bring it down as well.
Johnny, Johnny, Johnny,
You are so young and naive. Please write a 500 word essay on the London Gold Pool:
http://en.wikipedia.org/wiki/London_Gold_Pool
and have it on my desk no later than 9:00am tomorrow morning.
I see you didn't answer the question. That's typical here.
As the student it is your role to answer the question.
http://www.youtube.com/watch?v=VLnWf1sQkjY
Ok, if your pedistrian mind needs the help.
"What happens if Gold is manipulated down?"
That's certainly possible but unlikely. Why? Because they've lost control of the price. I know this because I read (unlike you) the Adrian Douglas piece:
https://marketforceanalysis.com/articles/latest_article_081810.html
Remember that one? This is the one I asked you to respond to but you said you didn't need to read it etc. It was at this point I stopped taking you seriously and started using you as my intellectual play thing.
You fuckers claim it's manipulated lower EVERY SINGLE DAY, and EVERY SINGLE TIME it drops 5 dollars.
And you spelled pedestrian wrong too.
So much for being a teacher...
This coming from the man who tells me to take an English class... LMAO!
Sorry, I'm actually taking a few time slices from my day job to hold your hand. That was a good one, cut me up for mispelling pedestrian. Good one. How about reading those 2 articles and getting back to me on their merits.
By the way I was kidding about tutoring you. You're a waste of my time even for $900/hour.
You're not fit to tutor me.
You couldn't even carry my books to class.
So I guess you're not going to read the Adrian Douglas article? You were so close to freeing your mind but I guess not.
You should be able to deduce from all the posts about gold that you have read and replied to why they can no longer hold the price of gold down. And if nothing else economics 101: supply and demand, should give you an answer. Additionally, if CBs believe gold is real money and loan it between themselves, why would you be tricked into using anything else? How have the banks been faring in holding the price of gold down, or as most champions of gold like to say, how low will fiats keep falling against the real store of wealth, gold?
Oh and if you ask why would people buy gold if it's manipulated how can you not ask why would I want FRNs if they can be printed from nothing or digitally conjured making them less valuable instantly? That is not just manipulation it is counterfeiting...somthing that can't happen to pure gold.
"Endless money forms the sinews of war." -Cicero
I say gold will be $1,500 or better one year from now.
I say the S&P 500 will be 900 or less a year from now.
I say the yield on U.S. Treasury IOUs will be higher a year from now.
That's what people said last year, only they said that the S&P would be 450 and gold would be 2000.
But you're the douchebag that says timelines don't count. Perhaps next semester you should look into taking a debate class.
http://www.youtube.com/watch?v=VLnWf1sQkjY
Stupid is a strong horse. It can be ridden far.
LOL. +++
I'm a lot smarter than some of the folks in these threads.
Fucking TREASURIES yield more than gold.
You have made about 3 or 4% this year so far, buying a manipulated market.
And when you consider the fact that you're paying 1300 for 1220 gold, most of you are STILL underwater. LMAO!
When Americans gave up their gold back in 1933, they were paid $20.67 for each ounce they surrendered. If they had simply lost one of those ounces behind the sofa, today they could exchange it for over $1,200. But if they had taken that $20.67 and misplaced it until today, that amount of money would only buy what a mere $1.32 would have bought them they day they turned in their gold.
That's how well the dollar has held its purchasing power since 1933. And that's how well gold has held its.
Well if gold is going to 54000, as this site suggests, why don't more people pay 1300 for it now?
Some are, and those are the same people gloating that it made it to 1250!
A Termite-Riddled House: Treasury Bonds
Yeah, well I can produce stories from 2000 that the Nasdaq would be the same level as the Dow too.
That doesn't mean that it's the truth.
http://www.youtube.com/watch?v=VLnWf1sQkjY
Attaboy, Coop.
I bought in at $630/oz gold and $12 something/silver... Everybody told me i was nuts. The ones who couldn't see it back then still can't see it now.
And what about the idiots saying "back up the truck" the last time it was at 1240 and falling?
They bought for MORE than 1300. They're still underwater.
So you're saying that you haven't bought any more gold since it was 630 an ounce though?
Why not?
I mean, if it's inevitable that it will rise to 54000, what is paying 1300 for it?
You must know that the game is up soon, my friend.
I can't blame you.
I love how you assume that premiums would disappear in a downturn in the POG, and then you stretch that tenuous logic even further to pretend that the premium is already gone.
Here's a hint for you. In the early 80's, the price of gold in dollars was cut by 75%, but the premium for krugerrands remained at 6%, unchanged from the day of the blow off top.
"I paid 1300 for something that is worth 1250, and I'm gloating about it"
- tmosley
First, I haven't bought gold since it was under $1000 (I'm buying silver these days). Second, even if I had, I would get all my money back, just like this guy: http://cgi.ebay.com/1-OZ-FINE-GOLD-50-AMERICAN-EAGLE-COIN-1986-/18055412...
But don't let me keep you from learning how to do grandma's taxes. God knows you need your day job.
The only thing you need to know from all this Mr. Bravo is that the "price" of gold does not matter. Having gold is the only important action.
Hey, I thought JB was getting blocked after 5 moronic posts (according to him), whatever happened to that? How much of a donation does it take to make that happen? Have you guys heard of groupon? Maybe we could do a group-donate-block. Lets shorten it to groudonock.
I got another stupid e-mail that said
Ok... Ok... I guess you're cool enough.
That happens every time you get unblocked.
JB, you should be honored to have your Own Personal Troll!
Moi, a troll? Can't see how that would be possible since I've been a member longer than both of you. I'm not one of those types that needs the constant reassurance of hearing myself speak or seeing every fleeting marginal thought that passes through my mind in type, not to mention any names. Usually others have covered pretty much most of what I would want to say by the time I read through a thread. Some posts are just too ergregious to ignore.
are you a B E A V E R ?
beavers are pretty H O T.
Ahh... thanks kathy, I think beavers are pretty hot too. I'm not a beaver, just a heavy breather.
http://www.youtube.com/watch?v=VLnWf1sQkjY
"You have made about 3 or 4% this year so far"
Actually gold is up 11.6% so far this year, with its strongest season still to come. That's a pretty fair return for just buying and doing nothing.
Jonny, that's a great one, treasuries yield more than gold! Why didn't i think of that one? HA HA HA no yield and you can't eat gold either
do you know what central bank gold swap rates are ?
why do you disperse misinformation ? www.tulving.com - you can get physcial gold as low as $9 +spot. y
And by the way, you can't eat gold
But you can't print it either.
Central bankers can counterfeit anything. Hell they will be selling 10 perfect copies of valuable art to each other at discount prices once it starts crashing. All forms of counterfeiting came from bankers.
.life is precious. Time on planet is limited. Each moment a treasure we take for granted till too late.
+++++ merehuman.
Live in the moment, be aware, the power of now.
OK to buy gold too.
indeed, everything that has ever happened or will ever happen can only happen in the 'field' of now. eckhart tolle.