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Gold Surges To New All Time Record

Tyler Durden's picture


Market regulators forcing short squeezes? Check. Central banks using mob-style gimmicks to push the price of "assets" around? Check. Market confidence back to 100%? We'll have to get back to you on that. Gold spot just touched on a fresh new intraday all time high of just under $1,579... and is going much, much higher. After all, the most important question - Everyone is broke? Check.


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Wed, 07/13/2011 - 07:35 | 1450973 malikai
malikai's picture

Tomorrow is Bastille day. Are we ready to party like its 1789?

Wed, 07/13/2011 - 07:37 | 1450979 A.W.E.S.O.M.-O 4000
A.W.E.S.O.M.-O 4000's picture

Off with their heads

Wed, 07/13/2011 - 08:08 | 1451071 66Sexy
66Sexy's picture

Simple solution.. Trade international banker digital debt money for physical gold and silver.

Then default, And laugh your ass off. WTF are they gonna do? Invade European states with the US Navy?  

The IMF has no choice but to extend and pretend.

Hell, If i was a european ruler, I would take the free money and trade it for Precious metals.

Then shoot that 'ol devil in the ass...

Wed, 07/13/2011 - 08:17 | 1451099 Ranger4564
Ranger4564's picture

Hello UN and Africom Peace Keepers... installing martial law... forcing compliance.  Wait and watch.

Wed, 07/13/2011 - 08:26 | 1451117 SheepDog-One
SheepDog-One's picture

LOL, blue helmets make such great targets.

Wed, 07/13/2011 - 08:42 | 1451169 GetZeeGold
GetZeeGold's picture


Kinda like aiming for the ball cart on the practice just gotta do it.


Wed, 07/13/2011 - 09:22 | 1451294 Ponzi Unit
Ponzi Unit's picture


A bas les aristos!

Wed, 07/13/2011 - 09:37 | 1451330 Helena Bonham-Carter
Helena Bonham-Carter's picture

Rob me the exchequer the first thing thou doest, and do it with unwash'd hands too.

Wed, 07/13/2011 - 07:52 | 1451025 Ricky Bobby
Ricky Bobby's picture


Wed, 07/13/2011 - 08:01 | 1451054 Sudden Debt
Sudden Debt's picture

Maybe this time, everybody gets free cake?

Wed, 07/13/2011 - 08:08 | 1451079 malikai
malikai's picture

Oh, I like cake. I wonder how much cake these guys got.

Wed, 07/13/2011 - 08:23 | 1451110 h3m1ngw4y
h3m1ngw4y's picture

the cake is obviously a lie


Wed, 07/13/2011 - 09:14 | 1451268 Esso
Esso's picture

Ooooooo, I hope it's that cake with the yummy, whipped icing. I could live on that!

Wed, 07/13/2011 - 12:09 | 1452267 MayIMommaDogFac...
MayIMommaDogFace2theBananaPatch's picture

You'll get urinal-cake and you'll LIKE IT too.

Wed, 07/13/2011 - 09:24 | 1451297 Ponzi Unit
Ponzi Unit's picture

Marie Antoinette, when told the people had not so much as a crust of bread, suggested they eat the soft portion of the bread instead, the cake.

Wed, 07/13/2011 - 07:38 | 1450982 Quintus
Quintus's picture

And POW! suddenly it sells off $5 just like that.

Wed, 07/13/2011 - 07:43 | 1450996 SheepDog-One
SheepDog-One's picture

I'll take gold up +$10 every morning no problem, better than any bubble 100 P/E stock out there.

Wed, 07/13/2011 - 07:55 | 1451031 mmlevine
mmlevine's picture

I keep shorting and 100 p/e stocks and getting killed.  Suggestions?

Wed, 07/13/2011 - 08:00 | 1451048 malikai
malikai's picture

Stop going short and start putting PMs in hand.

Wed, 07/13/2011 - 08:25 | 1451114 SheepDog-One
SheepDog-One's picture

Yea, step away from Bernank's rigged casino.

Wed, 07/13/2011 - 09:42 | 1451347 DaveyJones
DaveyJones's picture

the rule for cliffs and casinos

Wed, 07/13/2011 - 10:10 | 1451437 mmlevine
mmlevine's picture

I consider myself a fair and decent family man.  I do not booze, womanize or even speed (too fast) over the limit.  So I am a little simple - more so than the average man.

Shorting LULU, NFLX and AAPL, (by buying puts) has been my way to express my simple opinion that stocks are way overvalued and in the end, common sense should prevail.  It has not happened yet and I am the poorer for it.  However, I must continue.  I often ask what if others took a stand and rendered an opinion - would I have been made right? 

The world is imploding around me and I must in good conscience keep expressing my opinion in the only way I know how.

Wed, 07/13/2011 - 10:42 | 1451588 FeralSerf
FeralSerf's picture

As dollars become worth less it takes more of them to buy those shares of AAPL.  Maybe you should think about shorting dollars instead?

Wed, 07/13/2011 - 10:58 | 1451723 impending doom
impending doom's picture

If you knew what a hedge was, then you would not be worrying about downside risk. It is like calling car insurance downside risk. A hedge involves using 2 risky positions to place a floor on your potential loss. I am perfectly okay with losing the $5000 or so in insurance premiums that I put up to protect over 70k in metals.

Wed, 07/13/2011 - 11:02 | 1451757 mmlevine
mmlevine's picture

So I should buy AAPL, NFLX and LULU calls as well?  That would be my hedge - correct?

Wed, 07/13/2011 - 10:14 | 1451458 tarsubil
tarsubil's picture

Gold is not surging or suddenly selling off. Gold is marching. Like Basil the Macedonian, it's like the slow creeping inevitability of hot liquid mag-ma (or lava for sticklers). Only buy what you can hold in your hand, IMHO.

Wed, 07/13/2011 - 07:39 | 1450983 Mitch Comestein
Mitch Comestein's picture

Gold bitchez.  There I said it.

Wed, 07/13/2011 - 07:40 | 1450988 averagejoe
averagejoe's picture

Tick tock.  Euro facing into the abyss.

Wed, 07/13/2011 - 07:42 | 1450990 Silverhog
Silverhog's picture

Record price in the middle of the doldrums. Look out September!

Wed, 07/13/2011 - 07:42 | 1450991 Twindrives
Twindrives's picture

Obama, eat your peas bastard.  We have gold. 

Wed, 07/13/2011 - 07:44 | 1450992 smartknowledgeu
smartknowledgeu's picture

but only in terms of current de-valuing fiat money and unadjusted for inflation. adjust for real inflation (not the bogus "official" inflation numbers released by the US govt) and it's nowhere near the all time record hit in 1980. not even close.

Wed, 07/13/2011 - 08:11 | 1451087 doggings
doggings's picture

its only a matter of time.

Wed, 07/13/2011 - 09:43 | 1451352 DaveyJones
DaveyJones's picture

plenty of room to buy then

Wed, 07/13/2011 - 07:42 | 1450993 Twindrives
Twindrives's picture

Obama, eat your peas bastard.  We have gold. 

Wed, 07/13/2011 - 07:48 | 1451011 SheepDog-One
SheepDog-One's picture

And even more important, lots of guns.

Wed, 07/13/2011 - 09:48 | 1451363 MachoMan
MachoMan's picture

He has more and better trained people to use them...  I think the better argument is that we have more cannon fodder and a genuine desire for change...  the latter being about all that is necessary to effectuate change (although the bar keeps getting set higher as our killing/confinement machines keep getting more advanced).

Wed, 07/13/2011 - 09:59 | 1451386 DosZap
DosZap's picture

He has more?, no we have far more...............we are Legion.

But, is the will there?.

We shall see if it get's too onerous.

Wed, 07/13/2011 - 10:02 | 1451399 Clay Hill
Clay Hill's picture


Agreed, sir, we have many, many, more.

Now, if we could work out that air power thingy...  :-)

Wed, 07/13/2011 - 10:00 | 1451383 DosZap
DosZap's picture

They already have a MAJOR contingency plan for that.

There is a lot of Under the Radar backdoor regs fixing to come out via Exec Orders.

Obama and the Brady Bunch, and company are all working feverishly to aid us in their removal.

Obama just allowed passage of the two longuns a week act,so the BATFE boyeez can track the southern states.


You know like Fast n Furious.


Hypocrites all.

Wed, 07/13/2011 - 07:44 | 1450997 bigwavedave
bigwavedave's picture

update the chart Tyler. i dont think i have seen supression like this in 20 years.

Wed, 07/13/2011 - 07:45 | 1450999 DiveGerl
DiveGerl's picture

I have a hard time believing this rise is not a coordinated and planned one! Or is just time for everything to finally go to hell in a handbasket?

Wed, 07/13/2011 - 07:49 | 1451016 SheepDog-One
SheepDog-One's picture

Ive never heard of central banksters, politicians, or financial media whores wanting gold to go up, ever.

Wed, 07/13/2011 - 10:44 | 1451601 FeralSerf
FeralSerf's picture

I've not heard of eaters wanting food to go up either.

Wed, 07/13/2011 - 07:53 | 1451026 Internet Tough Guy
Internet Tough Guy's picture

Volatility is very low; gold is being walked higher.

Wed, 07/13/2011 - 07:56 | 1451037 francis_sawyer
francis_sawyer's picture

"being walked higher..."

BINGO (see longer comment below)

Wed, 07/13/2011 - 07:48 | 1451014 bigwavedave
bigwavedave's picture

i urge all those who are long gold. phone your dealer now and as for a quote. BID only quote please. or else you are gonna get stops run way below... this is insane action!!

Wed, 07/13/2011 - 07:50 | 1451018 SheepDog-One
SheepDog-One's picture

Im not 'long gold'. Im 'hold gold', for when they blow apart this stupid dollar with their maniacal monetizing.

Wed, 07/13/2011 - 08:03 | 1451060 Ricky Bobby
Ricky Bobby's picture


Wed, 07/13/2011 - 08:15 | 1451093 bigwavedave
bigwavedave's picture

yeah you hang in there old timer. why not just give a heads up to some other readers who might just be tempted to jump in some paper gold on this move? right.. coz you only give a fuck about yourself.... enjoy!

Wed, 07/13/2011 - 08:22 | 1451108 SheepDog-One
SheepDog-One's picture

Thats right, bigwavedave!

Wed, 07/13/2011 - 07:50 | 1451019 giovanni_f
giovanni_f's picture

Margin hikes coming.

Wed, 07/13/2011 - 07:52 | 1451023 Long-John-Silver
Long-John-Silver's picture

Just a few seconds ahead of me.

Wed, 07/13/2011 - 08:00 | 1451045 malikai
malikai's picture

So what happens when margin is 100%? What are they going to do then? 110% 120% margin? There is a finite limit to what can be acheived by fucking with the CRIMEX. It does nothing to address the underlying problems and soon, the mere act of raising margin requirements will have the same effect as banning shorts (positive indicator).

Wed, 07/13/2011 - 08:24 | 1451111 tmosley
tmosley's picture

The actual margin rate doesn't really matter, much like the position of Los Angeles relative to the San Andreas fault doesn't matter.  What matters is the movement, and how often it happens.  If you get an 8.0 every day for a week, you are going to have problems.

Wed, 07/13/2011 - 08:32 | 1451144 malikai
malikai's picture

Totally agree. The point here is that fucking with margin is going to bcome an indicator in its own soon enough. When that happens even weak hands won't be flushable with the hikes. These are desperation moves. Like QE, they're great while they work - until they don't.

Wed, 07/13/2011 - 10:27 | 1451523 thesapein
thesapein's picture

Doesn't the new asian gold and silver exchange go live this month? Hiking margins elsewhere won't matter as much then, will it?

Wed, 07/13/2011 - 07:51 | 1451021 Long-John-Silver
Long-John-Silver's picture

When do the margin changes start?

Wed, 07/13/2011 - 07:53 | 1451028 francis_sawyer
francis_sawyer's picture

I made this comment on another blog this morning [which I'll paste here]

In response to:

"Central banks all over the world have stocked up on Depends"


I don't exactly see it that way... & have been saying this for awhile...

Instead, I think they've [CB's] pretty much abandoned the idea of trying to control this [gold] through paper markets... Not that it means that gold will just go vertical here... But more that it will continue it's decade long broad technical pattern... (which is bottom left to top right)...

The only thing that will basically keep up will be crude (but gold will be more steady)...

Stealthily... it ALREAdY IS the new dollar...

The CB's screwed up because they figured they could keep people chasing after paper wealth (after 2000)... it worked for awhile with housing, but that's gone now...

All that's left is to continue to conjure mountains upon mountains of new debt into existence (threaten TEOTWAKI if things like 'debt ceilings' aren't raised, or if any country should, dog forbid, default)...

They'll siphon off as many of those freshly minted debt notes (dollars, euros, yen, & yuan) as possible & buy physical gold with them (for the day when it actually all does collapse)... CB's don't need granite countertops, or iPods, they need gold... Stacks & stacks of it... & the last thing they want to see is it falling into private hands...

J6P will never be able to keep up with them because the price of gold (at $200) was in J6P's reach, @ $1,500, not so much... At $3,000... 4geddabout it (when cornflakes cost $6 a box & gasoline is $5)...

In 2002, J6P needed to be thinking about buying gold... Instead, someone convinced him that gold had done nothing but LOSE 75% since the 1980 bubble peak... Here, Johnny, why not buy this nice shiny house that you can live in, and will double in price in 5 years... Even better, take out a 2nd mortgage on it to put in granite counter tops, a sub zero freezer, send your kid to college & take a cruise while you're at it...

It's a 'managing' game right now... Best thing to hope for is to try not to let it get out of hand... There are all sorts of propaganda tools to use for that (& luckily J6P is relative stupid & rather easily distracted... not to mention possibly broke & out of work)...


Right where he 'should' be...


Wed, 07/13/2011 - 08:05 | 1451066 Internet Tough Guy
Internet Tough Guy's picture

The CBs have as much gold as they can get; there simply isn't enough on the market to buy in size.

The paper price suppression game will be played to allow as much time as possible to convert to other real assets. Walking the price up stretches the physical supply as much as possible. Eventually (soon) a paper claim will default on physical delivery and the game will end. Physical only gold market at much, much higher prices. Dollar hyperinflation. Freegold.


Wed, 07/13/2011 - 08:43 | 1451174 francis_sawyer
francis_sawyer's picture

"there simply isn't enough on the market to buy in size."

But what is there, they will gladly take (as stealthily as possible)...


I think they want this game to go on for as long as they can... It's akin to going to the local bank an exchanging $10 or $20 notes for rolls of nickles (cause you know the melt value of the 1946-2011 nickle is 6.5 cents, & further, there's no 'transaction tax' associate with the exchange)...

But it is unrealistic to walk into the bank an say you want $10,000 worth of nickles, please (marbles, maybe)...

So you just keep doing it gradually for as long as you can, an hope the people stay distracted on other things (which you usually get your wish on)...


The day that fiat finally collapses (which might be an engineered event - when it happens) - I'm guessing the "right ones" will hold most of the gold...



Wed, 07/13/2011 - 07:55 | 1451033 freethinker4now
freethinker4now's picture

Ah crap, down €770, tried to play the breakout. Doh!

Wed, 07/13/2011 - 08:17 | 1451098 bigwavedave
bigwavedave's picture

dont do it mate. wait. buy the physical tradable stuff. take in some coinage on dips. dont chase the stops on blowouts for fuck sake.

Wed, 07/13/2011 - 10:09 | 1451432 DosZap
DosZap's picture

Well Gold id dragging all the other metals now.......funy how that works.

Gold can get the crap knocked out of it, and the rest go up.

Gold takes a major walk up, and it's Happy Land for all PM's.

Wed, 07/13/2011 - 08:07 | 1451070 Paper CRUSHer
Paper CRUSHer's picture

BTW Tyler.......beneath ya trading desk....that gold nitrous gauge,its giving an incorrect pressure reading.Should read 1573 precisely......needs a little knock:

The Central Banksta' intervention and manipulation is indeed going global.

Wed, 07/13/2011 - 08:10 | 1451085 GFORCE
GFORCE's picture

TBTF banks making a fortune in gold? Check

Wed, 07/13/2011 - 08:22 | 1451107 bigwavedave
bigwavedave's picture

yeah. do you know how they do it? its so simple.....


All price discovery is done via bid/offer. markets move on volume only. so say there is low volume. price goes up or down without money down. not every bid or every offer equals a transaction. price can go 1...2...3...4...5...6..7...8. with no trades. or the other way. until they find the volume.. the buyers or the sellers (stops are the easiest targets). 

my advice is to get out of the way. just take the physical. dont trade what you love. go MOMO on something you DONT believe in. you will lose less money.

Wed, 07/13/2011 - 08:28 | 1451126 BetweenThe Coasts
BetweenThe Coasts's picture

'The Fate Of Gold & Oil

Is Paulson Being Eyed For The Next Panic Trade?

Martin Armstrong


Wed, 07/13/2011 - 10:11 | 1451448 blindman
blindman's picture

"We are due for a correction – It’s Just Time. The months ahead are September and November in particular for turning points. What we have to pay close attention to is the “hype” that comes out. If the Investment Bankers are looking to force a liquidation to make a bang-up trade for the year since things have been quiet, the news will be spun to support their agenda. This is part of the game. When they wanted all the little guys in for 1980, they made the Hunts a household name. That was the setup. The little guy buys thinking he is running with the big dogs. The real big dogs stay well hidden in the bushes and will NEVER step into the limelight.
The week before Labor Day (last week of August) may become the key week where a change in trend develops thereafter. Keep in mind, cyclically, most of the biggest periods of volatility take place right after Labor Day. Paulson – you are dancing with the devil. Watch your ass!
So for now, pay attention. The dogs are getting hungry and they have had a quiet year so far. The second half of the year is shaping up for a return to volatility. Of course they will yell and scream at this writing. On the one hand they claim I manipulated the WORLD economy because I had too many “big” clients. On the other, they claim because of their own half-baked allegations, I am not credible whenever I write about THEM. It seems they want it both ways. As Cicero always said, when you can’t respond to the argument, attack the speaker. The fact that they will attack me personally DEMONSTRATES that they have no response to my observations."
soooo.. as he said " watch your ass ".

Wed, 07/13/2011 - 10:18 | 1451481 qussl3
qussl3's picture

An excellent read.

Thank you.

Wed, 07/13/2011 - 08:47 | 1451191 monopoly
monopoly's picture

Don't understand why this is such a big deal guys. This is the 11th year of this bull market. Manipulation, bubble, central banks. You are trying to make excuses for this rise. It is just another bump up on this broken road we are on. On its way to 1,600, then maybe 1,500 then back up again.

Nothing has changed. You are going way too deep with all this crap..... Just mumble, Obama, Geithner and Bernank and that is all you need. Try and buy the dips and trade around core on the rips. Or buy LULU> I think not.

But you cannot short this market. All it takes is a little foam at the mouth, a little wetness on his beard and up we go just like the ride on space mountain.

Wed, 07/13/2011 - 10:07 | 1451420 Confucious 222
Confucious 222's picture

Remember badzooka and his "sell gold and silver now" advice? I do.

From 6-25-11:

"PS: Have you seen that Gold and Silver are declining with the equities? Safe haven my ass! They should be reaching newer highs if these were safe havens, while equities are falling. However, the USD is turning up and short term treasury bills are at high demand. Investors are willing to pay Geithner to own short term T bills!" 

The .gov pimps always recommend selling PM's RIGHT NOW. Then, you can look at buying them back later. Maybe.

Wed, 07/13/2011 - 10:55 | 1451677 Temporalist
Temporalist's picture

Ben Bernanks just said, when asked by Ron Paul why central banks hold gold:

"It's tradition."


Wed, 07/13/2011 - 12:08 | 1452250 MayIMommaDogFac...
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