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Gold Surges, Prepares To Make Run For All Time Highs
The market is starting to appreciate the "controlled demolition" of the fiat system. The concern: the thin line between controlled and uncontrolled is one brief freakout away. In which case, gold will certainly be below lead on the valuation chain.
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controlled demolition, i like it :)
THEE MUST SEE VIDEO FOR EVERYONE POSTING:
http://montanasoundmoney.org/parksvideo.html
Thunder Road Report 19 4th May 2010
At 11 AM USA East Coast Time, it looks like the machine has begun to take down Gold. You can't have Gold spiking when stocks are headed down, now can you? That would legitimize PM's and de-legitimize fiat paper.
Great buying opportunity.....
yes, got my eye on a couple hundred oz's Ag by Friday/Saturday.
Thanks JPM. Got me 5 more oz at $1170.
That was me shorting it. Look at GC on hourly or 2 hour chart. It was primed for sell-off via ascending wedge. Very common pattern.
Why can't JPM take down food and water as well ... fucking expensive nowadays
but will gold appreciation outrun dollar appreciation?
Brilliant! "In which case, gold will certainly be below lead on the valuation chain."
+10
This succinctly summarizes one of the problems with gold investing. Gold isn't what you're going to want when the scenario many are hoping for, happens. A self sufficient farm in the middle of nowhere, with fresh water and power generation is more like it.
...and guns and ammo of course.
Thank you. When we want to hear from an ignoramus devoid of any understanding of money and its history then we'll tap you for sure.
I am Chumbawamba.
As someone who stayed home and saw how desperate things got in the aftermath of a major hurricane when folks knew things would get back to normal soon, I tend to agree with Popo that if the dollar and banking systems collapse, self sufficiency will be more valuable than gold.
Only over a short timeframe. Once immediate needs are met, gold and silver go straight back to the top of the list. When SHTF, it stops spraying eventually. My guess is a month, or three at worst, though it could be as short as a couple of weeks. Though things may be really bad for years (with high crime rates as well), the initial time period when everyone goes nuts and money of all types is worthless is very short.
"Though things may be really bad for years"
Try many decades, my guess 40-60 years, Japan from their top will probably be more like 60-100 years. If nukes are used, either extinction or New Dark Age which would probably last 100s of years.
Unfunded liabilities are going to have to go.
The last time it was 100 million and between 20-30 years depending how you measure it, from a Germans persective they were in and out of chaos from basically 1922 to the late 40s or early 50s.
The reason I think it will only be a few years is because this is so big that I think the government will just collapse. In Germany and in other cases, the government held on, and they still had industrial capabilities. We don't. As such, I think the people in charge will cut and run. Hopefully we can form a new government that returns us to real free market principles.
If a new government is formed, then we've learned nothing and the result will be no different. A state is not compatible with free markets. Even though ignorance still reigns supreme, truth is spreading. The hope is that in the not too distant future, when the state has caused the vast majority of people to suffer, they will realize that any society based in aggression will fail. If so, humanity will take a huge leap forward. If not, we'll see a state that is much, much worse than anything we deal with now.
Henry David Thoreau said it very well...
Check it out: Introduction to a Stateless Society
I agree with the libertarian anarchist philosophy 100%, and I accept the minarchist compromise. That doesn't mean that I think that a stateless society will be implemented any time soon.
If you want to institute a stateless society, you need to start setting it up NOW so that your community can act as a model for others after the state collapses. Be certain that you have a militia/defense companies, as well as systems for private arbitration (including criminal arbitration).
Somalia currently has a functioning stateless society (and is only dysfunctional to the extent that foreigners try to impose centralized government upon them), but they exclude outsiders to such an extent that they can't develop their trade very well (it is a clan-based anarchy rather than a company based one--you are born into your "insurance company" and it is hard to leave--outsiders have a hard time getting in, etc). Read the Mises article: http://blog.mises.org/4712/stateless-in-somolia-and-loving-it/
The "minarchist compromise" has already been tried and look at the result. That compromise also violates the non-aggression axiom which is at the core of libertarianism. All states employ aggression, even one that begins as a minarchy (taxes, monopoly on the courts and law enforcement, etc.).
I agree. A huge number of people will have to suffer because of the state before they are even willing to imagine life without a state. Will that happen "soon", maybe not. In our lifetime, probably.
No I don't. In fact, there will most likely be competing systems until the market determines the most successful (whether it be one, few or many). That's why so many strategies already exist (from agorism to voluntaryism). The link I provided contains articles that address the subject directly. If you ever decide to look into anarchy, that's day 1 material.
Somalia may be officially stateless but it is not anarchy (unless you use the statist definition of anarchy). Although, there are things that can be learned from Somalia. I'd say the best historical example of an anarchic society existed in Iceland for approximately 300 years.
I would suggest you check out the link I posted in my last comment. You've obviously been exposed to these ideas but only superficially.
Who said they ever ended - The first sentence of Bucky F's autobiography "The Dark Ages still reign...."
ordo ab chao
In the big scheme of things, yes there is order to the chaos. The unfunded liabilities just don't like the order.
A price will be paid for using the equation.
I'm not a financial expert. By "the equation," do you mean P < P + I?
Btw, have you read Damon Vrabel?
For a while yes, but unless the collapse is complete and permanent, at some point there will be a need for money, and thats when you'll want your gold and silver. And if things don't return to 'normal' then you'll probably just run out of food and ammo eventually anyway.
I feel better already
Gold and silver are for optimists. Brass and lead for realists.
I'll take them all thanks.
When I get my next check, I'll come back for more.
Actually, gold and silver are more practical and useful than brass and lead. Lesser metals are just more abundant, easier to find, that's it. But if you try to produce anything, your working prototype will have a better chance with the superior materials, be it a bullet or laser.
brass and lead? I thought ass and bread were more realistic
Nice!
Gas, grass, or ass: no one rides for free.
I am Chumbawamba.
food and water for survivalist
"Thank you. When we want to hear from an ignoramus devoid of any understanding of money and its history then we'll tap you for sure."
Ouch.
Chumbawamba hasn't been fed in a while so please keep all fingers and toes inside the car while passing through on your way to economic collapse.
Thank you for visiting ZH. Y'all come back real soon.
(Psst.......Chumba.......Please be nice, you're frightening the children.)
Sorry, sometimes I get carried away in my righteous furor.
I am Chumbawamba.
+10 more
Gosh, retarded.
Your life will be very, very short if it comes to that.
GD, peeps, you guys don't read the news from south of the border or from the favelas or from Colombia?
Unless you plan to form a militia like the Taliban and basically ruthlessly murder people, your guns and ammo aren't going to be that useful.
If it comes to freshwater and land, you're going to be on the receiving end of 30mm cannon fire in your compound from an Apache.
WOLVERINES!!!!!
+1
"How did you get shot down, Colonel?"
"It was five to one. I got four."
If your plan is to hide in isolation, wait it out, and hope the rest of the world fixes things for you... I don't even wish you luck.
If you want to part of the solution and help reshape the world, you'll need more than guns and ammo.
The pen is mightier than the sword, fyi.
sure all will want self sustaining farms lol.a pipe dream
i bet so very few will ever get close to that .
next best .. grab some gold , silver every one can do that . stash some goodies ,, plant a graden.
Don't forget brass.
Lead and brass: the precious metals of the post-SHTF world.
Yes, real life is just like Call of Duty. You get shot and regenerate.
Everyone will be armed because everyone else is going to steal from them if they aren't. And the stealers won't be armed. Because they are mindless zombies. No group of thieves will come with overwhelming force because thieves aren't smart like that.
There won't be warlords and drug gangs and large militias and the army around. It'll just be you, the Postman, with your AR15 fighting off the vast unarmed zombie hordes coming for your arable land and Honda generator.
In post-SHTF - honestly wonder if any of you people even think during a given day - what happens to you if you get shot ONCE by a .22?
You die. Maybe not that second, but you will most certainly die. Because there won't be any medical care or antibiotics in SHTF. Consequently, YOU and EVERYONE ELSE will AVOID armed conflict like wild predators avoid fighting. One scratch or minor wound can get infected and then you die.
The best armed animals in the world do not fight each other or take risks like this because they know the consequences. Only idiots do it, like in the Civil War. They end up maimed or dead. Missing limbs.
If guns become necessary in SHTF, then there is no point in being alive and it won't matter because you won't be for long.
Place your faith in cooperating with your fellow man and in trade, for which gold is an answer.
That is what the goldbugs hope for, TRADE, society and cooperation. If we REALLY end up "needing" guns and ammo as "precious metals," then we're all finished.
I plan to GTFO and let all you wannabe Postmen shoot each other. I'd rather have wealth that is portable rather than a bunch of firearms of which I can perhaps carry ONE along with how much ammo?
Gotta love those stockpiling hundreds of pounds of ammunition. How you gonna carry that if you need to abandon ship? You gonna hole up like Omega Man? Well, the bad guys don't wear sunglasses in this version of the movie. They all have bigger guns and there's more of them.
Ask an operator how useful a bunch of guns are on an operation. It's a lot harder when you have to CARRY all your own ammo and the arms too. Which would you rather carry...50lbs worth of ammo or 50lbs worth of platinum?
I agree with you all the way up to the last line. I'd rather carry 50 lbs of gold than platinum. Platinum will be hard to trade, and not many people recognize it. Gold is universally recognized.
i've been saying this point on here forever - get them to play Fallout 3 on Hardcore and see how quick they lose interest in it...
most of these people can't even carry all their groceries from their car to their kitchen without bitchin
... and the cold blue steel of S&W and Remington. With enough weaponry and ammo, you can get all the gold, silver, food, and water you want from those still looking to a higher power for their defence. Wow, I finally get to live out a Mad Max movie!
yeh! and this future will come with perfect cuts and edits so you dont' have to worry about anything mundane !! like walking for a whole fucking day....to nowhere!!
think Into the Wild more than MadMax...
More like the old west than Mad Max--the REAL old west, not the one portrayed in the movies--not really a lot of crime, and people pretty much left you alone, because EVERYONE was armed, and no-one wanted to start shit and get killed. If you think that everyone who has gold and silver doesn't also have a rifle, shotgun, and pistol, you're going to be in for a big surprise--if you can still think at all after a lead bitchslap.
I've been trying to think of a good question to highlight the lead over gold argument;
Say the SHTF, will you voluntarily pay your property taxes in gold?
No, but I'll voluntarily pay in lead.
Taxes? TAXES!? WE DON'T PAY NO STINKING TAXES!
I am Chumbawamba, mang!
Um, yeah - my point exactly. Like so many have said before me, if you ever *need* gold, you won't need gold ... ;-)
Hokey religions and ancient weapons are no match for a good blaster at your side, kid.
Never really considered (reverse) transmutation as a source of ammo, but you have a point, TD.
All kudos to Alf Fields and Jim Sinclair ... they called it long ago. Evidently Sinclair has a new book out on Gold: A Pocketbook of Gold ...
Isn't gold already at all-time highs in other currencies like the Euro?
Europe is generally very "hard money" oriented, no? Of the central banks with top holdings of gold in the world, aren't Germany, France, and Italy in the top 10?
And those holdings perhaps reflect the feelings of the people.
I'm guessing they're converting their Euros into precisous metals, amoung other hard assets.
yes,gold it at an all-time high in Euros:
http://goldprice.org/charts/history/gold_10_year_o_eur.png
and GBP:
http://www.telegraph.co.uk/finance/personalfinance/investing/gold/766842...
Nice article - UK cash savers have lost 4% in a year.
Yes they are very "hard money" oriented.
Tungsten is very hard indeed.
Oh and tungstens density is very close to gold.
Their gold stock predated the use of tungsten bar scam. Also acquired in times they oversaw all the mining themselves...
I love the smell of burning fiat currency in the morning. Smells like...victory.
"Why are you always preparing? Just go."
JPM manning the barricades now. look at the waterfall engineered in silver!
anyone wanting physical should try APMEX.com, they have some with good premiums.
I saw that as well - sweet! $18.25 would be a great buy-point. Have FRNs at the ready to transfer to my local supplier of physical (he still has some Eagles and Maples on hand) at lunch time (I'd do it now but, you know, work gets in the way).
Out of curiosity I just took a look at that site...
I saw this:
http://www.apmex.com/Product/44273/Silver_Grain_Shot_999_Fine___10_oz_pa...
Specifically:
"Pure BB sized silver grain/shot for industrial, jewelry, and manufacturing, but not for investment! Sealed in clear tamper evident bags."
But not for investment? Why not? For anyone that's 'accumulating' physical silver/gold, why the concern about having it in some pre minted coin? Do people think that the weight/amount etc stamped on the coin will be the determinant of it's value or something?
Well now, it appears we can have our cake and eat it too.
Works on werewolves. Zombies...not so much.
I'm guessing because the BBs within the pack are not uniform. This type of shot is made by pouring molten silver into water, so each piece is not measured as with minted coins or bars.
If you have a furnace or kiln you can melt and pour your own bars from the shot to make measured units. So if you're going to invest all your money in silver shot to maximize your dollar trade, save a portion of your cash for something that can generate heat on the order of 962C (1763F). Or if you're handy, study the material on this website:
http://www.backyardmetalcasting.com/
With the addition of two coin presses I acquired recently, plus two additional kilns, I'm well on my way to my goal of minting coins from the Sovereign Republic of Chumbawambalia.
I am Chumbawamba, High Potentate of the Sovereign Republic of Chumbawambalia.
Wow your own country and hard currency.
All bow to the High Potentate of the Sovereign Republic of Chumbawambalia!
I just thought it seemed funny that people would prefer the pre-stamped coins, like the number that is stamped on it somehow dictates it's value. People talk like PM will be the be all end all when the shit really hits the fan, but if the shit has really hit the fan the number stamped on the coin can only be trusted as far as I can throw the guy trying to trade it with me. If that's the case don't I care far more about it's weight? Even then, how do I trust that it actually is what the guy trying to sell it is? I'm really not all that sold on physical PM being the holy grail, but am open to being educated. In my naivety it seemed that it didn't matter what form teh PM took, so long as it was the PM it was claimed to be.
Funny you gave the backyard metal casting link, I've actually spent quite a bit of time trawling that site in the past. I have the set of gignery lathe books, just haven't actually gotten around to having a crack at it yet. Birds of a feather and all, I shouldn't be surprised to see the link popping up on ZH.
The idea behind minted coins and bars is that, yes, the integrity of the minter backs up the specimen. That's why American Gold and Silver Eagles are in such high demand; people just trust them. Sure, there are fakes out there, but they are easy to detect with simple equipment.
Once you get used to handling precious metals on a regular basis, you develop a "feel" for them. There will always be scammers and tricksters out there, you just have to learn to deal with them. Not like we don't have them right now. The biggest counterfeiter is our government itself. And look at all the fraudulent paper assets flooding the markets right now. The last thing you should be worried about is counterfeit gold and silver coins since that fraud can be pretty readily detected, at least more so than a stock market valuation or a treasury yield. And how many fake Benjamins do you think you have in your wallet? It's not hard to make them.
As far as home hobby projects, make the time and take your time. Learning a new skill is always a slow process. I have so many projects in stasis that it's amazing I still have a flat surface to put anything down on. Learning a skilled trade is probably the best investment anyone can make at this point. You're only worth what you have or what you can do. Once you run out of what you have, it'll be up to what you can do.
I am Chumbawamba.
"the integrity of the minter backs up the specimen" which is funny given that ultimately the same PTB that are minting these coins are the same ones we hold in such high regard with regards to managing the USD. </s> I also wasn't worried about fake coins, I was just surprised that the site would say that silver other than in coin format 'wasnt for investment purposes'. Am I investing in a PM, or am I investing in a coin? I'd have thought the majority of the value was in the metal, not the form it takes.
Fair enough about getting a 'feel' for PM's, but to how many people does that apply? For PM's to ever be some SHTF currency there needs to be trust for trade... I guess if people had to deal with them enough they'd figure it out pretty quick.
"As far as home hobby projects, make the time and take your time." Oh I make the time, I just have more projects underway than I have time to deal with. Doesn't matter much to me if there is no financial armageddon, or we don't run out of oil, I still get a kick out of feeling less reliant on anyone but myself.
at least your currency will be easy to recognize
http://lyricskeeper.nl/pics/C/h/u/Chumbawamba-3-big-large.jpg
"I am Chumbawamba, High Potentate of the Sovereign Republic of Chumbawambalia."
Wasn't it just a few months ago that you were a deity? Now you're High Potentate. :>)
Moving on up to the big time..........:>)
http://www.youtube.com/watch?v=AV0fmNo7474
nice video. CD, have you seen this site? He's a local
http://questioneverything.typepad.com/
No I have not but I just placed the link in my "to read tonight" list. Thanks.
Count on premium hikes after COB today. And more premium hikes, and sell outs if the price keeps dropping. (for the record... Premiums on American Eagles "as low as $1.89" right now)
May have spoken too soon. Gold now getting whacked...
gold and silver getting whacked = opportunity to accumulate a bit more physical.
All fiat will eventually go to 0
All gold will eventually go to 0. The fiat system is here to say, whether you like it or not. I'd like to see you eat physical gold.
If you want to play with idiots, just play the paper game, make your money in the short term, get out before gold collapses.
I'd like to see you eat a $100 Federal Reserve Note.... choke.
Probably only has plastic.
Silver is on the lollercoaster this morning.
I wouldn't call it a rollercoaster or volatility. I'd say its at the end of a fishing pole with a heavy lure.
As JS says, as things get REALLY interesting, lok for $100 moves. I gues it will be like the death throes of a wounded beast. Stand back, you might get gored.
As always, when you feel we are on the cusp, you can expect a big down move.
Also, market action makes commentary. Whack the PM's b/c you want to, something will happen after the fact to explain why.
No it will be attempts to suck supply/demand into paper. As they suck more and more of it off to paper it becomes more and more apparent to even the biggest idiots that there is not enough physical. It will be a rapid transformation to the original goldsmiths fractional scam that they used the paper fiat to get away from.
Not to worry, Ben Dover is firing up is roflcopter as we speak
Not so sure, TD...this morning gold miners have seem to have become a "risky asset" again in the eyes of the big players...
If gold is soaring in Euros, etc., it SHOULD also be doing well in other fiat currencies, right?
Just a sympathy selloff as the market breaks. GDXJ at the bottom of its channel in a couple of days is probably a great speculative buy.
Hold it. We just got word that people are worried about Greece again. Gold back down to 1184.80.
Finally, something makes sense. Gold up, stocks down. Not that I trust the market enought to invest in anything riskier (not they are without risk) than FDIC insured CD's.
OT: After Mayor Bloomberg announced that the Times Square car bomb was planted by a "white man" who was upset over the "health care bill, or something" they arrested a Pakistani man fleeing to Dubai (actually took him off an airliner that had left the gate).
I guess Al Qaeda has decided that the individual mandate offends Allah and they are in secret league with the Tea Parties. Thank God that our security agencies are no longer politicized under our Dear Leader and can root out threats to our security where ever they come from.
I've never ever visited New York (changed plans in La Guardia once--had stomach flu and threw up in restroom--maybe a immune system response to the Big Apple) and as long as an idiot like Bloomberg is in charge, I certainly won't go there.
Bloomberg is no idiot ... he is, however, an evil little egomaniac
When gold gets the sniffles, silver gets pole-axed. Despite a positive EPS of 27c or so, despite an objectively low price of U-$6, HL is being sold off.
The fact that gold wears the pants tonight but silver doesn't is indicative of a Flight to Quality...
How bearish do the S&P daily and weekly charts look?
Next stop 950?
Suspicion towards a currency, once awakend, develops insomnia. - James Dines.
"Suspicion towards a currency, once awakend, develops insomnia. - James Dines."
Excellent quote. I repeat it here because, though I appreciate your avatar, I feel that it may cause your comment to be removed.
Don't get caught in this trap. Look at the strong economic numbers:
New orders received by U.S. factories jumped unexpectedly in March as businesses rebuilt inventories, pointing to continued strength in manufacturing, a government report released on Tuesday showed.
Orders for manufactured goods rose 1.3 percent after an upwardly revised 1.3 percent gain in February, initially reported as a 0.6 percent rise, the Commerce Department said.
Economists polled by Reuters were expecting a 0.1 percent decline.
When transportation orders were stripped out, orders surged 3.1 percent, the biggest gain in almost five years.
Excluding defense, factory orders were up 1.3 percent.
Mr. Steve Liesman or should I say "Mr. Lies-man", go sell this propaganda on CNBS.
Most propaganda is not designed to fool the critical thinker, but only to give moral cowards an excuse not to think at all. - Michael Rivero.
Yes everyone please don't fall for this 9 year bull trap in gold.
Harry, I think this article is for you
http://www.theonion.com/articles/rich-guy-feeling-left-out-of-recession,17181/
SHUT THE FUCK UP!
Then you also have this:
Pending Home Sales Hit 5-Month High in March
Pretty impressive numbers once again. Today has the feel of a big reversal off these lows. Market is digesting the latest economic numbers. Based upon past reports, we should start the run around noon.
'Pending'. I love it. Let's report on something that no one has actually committed to by signing on the dotted line, but at the same time, report that as a gain.
Wrong site buddy!
Thanks Muppet. You think you're a prognosticator now? Take off the coke bottle glasses and rub your eyes. This is a dead cat bounce like the 30's and 70's. You don't increase 21% from March 2009 lows and dance a jib. The index dropped 80% like from 10-2. Now because it's up ticked to 2.5 on Gov't programs, decreasing prices, and muppets like you thinking it's time to buy is no recovery. Let's try a 500% increase from March 2009 lows, then we can talk about a recovery. Go back to your cave.
Where is rocky the gold cheerleader? I expected to see him here. he's like a used car salesman.
Which Rocky are you looking for? If it's for some gold up-talk, I'm your man.... er, mammal.
Lots of pretty impressive numbers throughout 1930 as well.
How'd that work out for us?
We'll see how well those numbers look with the first time homebuyers tax credit gone.
They are even letting people do owner financing and get the tax credit..As long as there is a deed for title paper signed at the nearest notary your good to go..You should hear of the transfers and scams going on...And the $6500 one is for folks that have basically lost a home and are getting back in for number two...
You are so myopic....
Your motives for posting such nonsense, in light of fundamental decay, bewilder me.
Harry, you realize that "pending" home sales are contracts signed not closing, right? You heard that the tax credit expired on 4/30, right? Can you not make the connection as to why every tom, dick and harry who had a even a remote snowball's chance of hell of buying a house in the near term would have signed a contract by 4/30, right? Trust me that number will definitely be revised when actual closings come in.
for hilarity purposes, just checked cnbc. top story--pending home sales hit 5 month high. once again completely missing the f*cking point. hahaha awesome! can someone write synthetic nielsen rating swaps for me? i want to express my short view with a smart investor counterparty hahaha.
My favorite part is when they put up the red bar with the headline and the (story developing) at the end...in other words, we got the news, but before we report it to you we're going to need to do some spinning. I mean you wouldn't want to report raw news on a news channel, right?
It may still be too early for gold(from the US Citizen's perspective). Why not wait for the Euro to fully implode....the flight to the dollar....THEN do the gold conversion before the dollar and US debt gets hosed?
Yeah, good idea! Wait until it's entirely impossible to get your hands on any physical quantity of gold, THEN go buy some.
I am Chumbawamba.
Chumba is right. Don't buy on dips. Just buy gold whenever you have some money. Never sell.
Gold is a gift under $1500.
Hey Chumba, Gordon & I have a sort of deal to have some drinks when gold hits $50k. Wanna join us?
Phuck yeah! I'll buy the first round...with GOLD of course, BITCHES!!
I am Chumbawamba.
Next time I see Gordon up I will let him know. I am sure he will be honored.
I have not responded much to the much-respected Cheeky_B, but he might want to join the party as well.
Hulk, the party does NOT start at $1500. We have to RICH first.
DCRB, just one drink at $1500? Getting real thirsty. Invite that zerOhead too, I want to meet that zany mf !
Well, OK, one drink. I will PARTY when gold moves well into the 5 figures.
Quite agree about zerO as well. There are so many others here as well who should be invited, MsC, Cursive, Shameful, etc.
Great site Tyler(s) & Marla!
Chumba, you are just the guy to maybe answer a question for me. Madhedgefundtrader above has an article on the rare earths metals.
Even if any of the N. American mines actually get up and running, I believe we have NO refining technology (to separate Europium from Neodymium for example).
If all of that is true, and if you are REAL HANDY, there might be a fortune to be made as the American Monopolist of refining rare earth metals.
Chumbawambalia would indeed necome a rich country, indeed a major power.
Count me in!
But I'm afraid on that day a beer will run about $100 and a cocktail $250.
long jim beam in the basement !!!!!!!!
I built a triple distillation, continuous column still. I'm thinking peaches!
officially, I am making peach flavored lacquer thinner, for ATF reasons.
Hulk, I just brought back a bottle of Absinthe from Italy.
I had read that when France re-legalized Absinthe, they prohibited the "bad" (= good) stuff like in the old days.
Know anything about that? I will have to crack open the bottle soon and see if "All Life is a Dream" (as it says on the bottle).
Only heard of absinthe DCRB, interested to hear its effects. In any event, I'll start heating up the creek!
Here is the thing I built. Blueprints were 30 bucks...
http://running_on_alcohol.tripod.com/id1.html
LOL
"officially, I am making peach flavored lacquer thinner, for ATF reasons."
Ironically I happen to be redoing my hard wood floors this month. Where do I send the check for a couple of gallons? :>)
I have to admit C D, I haven't fired this thing up yet, but seeing that you have a need....
Nice!
I'm having a crack at strong rocket fuel esque apple cider this year. Too many apples at my place to eat them all, so I'll drink them instead.
Wow, apple flavored lacquer thinner for ATF reasons.
Hulk, let's put a hold on that "peach" order OK? :>)
We need both. Apple for the first coat, peaches for the finishing coat.
Hard cider was traditionally drank in the morning. Moonshine at night, for that coma like sleep in the woodpile....
Now THAT was my laugh of the day!
Its a true story too... At a pig roast, 30 years ago, the fellow roasting the pig drank so much he passed out on the woodpile, in his overalls!
Slept there all night while the rest of us were catching up to him!
AU passed the S&P 1:1 ratio this morning. Same thing happened in 2009 for a short while.
I think lower yields are in the cards, and deflationary pressures.
No advisor in the investment space has called it correctly since 2002, because nobody could anticipate the massive derivatives bubble. BCA Research I remember being the only advisor calling the onset of a massive inflationary rally in 2002 after the Nasdaq crash, while everybody else was calling either hyperinflation or deflation.
I doubt if that can be repeated this time around.
It goes back a long way. Sir James Goldsmith called this market in 1997(google video), though you would not have said that the oil price low was in 1998 ~$11 and would grow to ~$147 and took 10 years.
I depict the historic pyramided networked junk bond scheme of derivatives in this way:
http://www.flickr.com/photos/11747277@N07/4578339702/sizes/l/
You can download this huge-ass chart if you like, or if you have a membership in stockcharts.com, you can always change the variables to suit your own purposes:
http://stockcharts.com/h-sc/ui?s=$BVSP&p=W&st=1995-10-06&id=p21324832134&a=118706852&listNum=2&listNum=2
The yield curve is very steep right now, though I expect it to flatten and yields to decline for the long haul. (which means another peak in long bond prices.)
-F6
Base metals getting whacked hard. Copper is down $.20/lbs on the spot market. That is a walloping.
:(
I am Chumbawamba.
JPM heating up the board Ag down over 4%
Choosing between the US$ and the Euro is like choosing between HIV positive and Herpes. Gold and Silver are the real alternatives
More like choosing between Ebola and cancer. Only difference being how long it takes before you die
already have cancer
Again. Gold is a thin market, and easily manipulated. While gold can maintain purchasing power, it is a lowsy trade. Imagine that fiat does completely collapse. That is immensely deflationary.
Physical gold (much like every other commodity) would still be there after a fiat collapse, but money supply would be WAY down. Thus gold would be denominated in far less dollars. Eg. a trader would view this as loss.
Again, central banks only control 5% of monetary supply. A collapse of the other 95% can hardly be offset
Fiat collapse is deflationary, all right. Against gold. Or do you think people will rush into dollars as they lose value? Are people rushing into euros now?
Stop thinking of gold as a commodity. It's money/store of value.
Absolutely right my friend.
Let them who wish, keep the printed paper which is actually debt that has to be redeemed by the Govt. After all it is a promise to pay. And we know how govts pay!!
This would be the ideal situation, IMHO... That way you will maintain your purchasing power (even though it would be measured in smaller numbers as you mentioned), and at the same time you could write off your numerical losses on gold and not pay any taxes!!!
Just the opposite of what happens now where as you maintian your purchasing power as the dollar depreciates, but you have to pay taxes on those numerical gains... which really arent gains at all, you are just not losing the wealth you have already accumulated.
Fresh Bear Meat Warning:
http://www.grandich.com/2010/05/fresh-bear-meat-in-our-future/
Since you have qualified your view:
You would be correct. What you may have missed is that I do not buy gold in the belief that it will be "worth" more fiat dollars. What's the point? One sure does get fatigued re-explaining this.
If all hope in fiat collapses, gold will rise to help offset the debt deflation. For more info, read The Importance and Relevance of Gold in World Monetary System by Peter Millar of Valu-Trac Asset Management:
http://www.gata.org/files/PeterMillarGoldNoteMay06.pdf
Going back to some form of a gold standard will be the last resort of governments, but the market will eventually force it.
wierd choice of verbs, does nothing is more apt.
Oh no Silver getting chopped. TBT getting chopped. No more imminent hyperinflation?
Always amazed, that the SHEEPLE think the USD is a safe haven,compared to PM's.
ALL PM's have dropped like a rock since this a.m............
Because the USD is UP over 83.....................
Oh no, gold now also heading south! What's up? USD + Bonds. I love it.
mahhh since everyone is going off the cliff I might as well join
btw USDX is 57%+ weighted on EUR it's like picking poison and right now the preferred attack is on EUR