Goldman Flip Flops Once Again: Mocks IEA Impact On Crude Prices, Reiterates 20% Upside In Commodities, Buying Gold

Tyler Durden's picture

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CAMDEN BEER609's picture

1 ounce of Gold = 15 ounces  of Silver = 10 barrels of crude oil.

Keep that in mind and don't worry about the spot

price of paper money.


kito's picture

doing the exact opposite of whatever they recommend at the exact moment they make said recommendation has yielded me a 67 pct return over the past decade.....that even beats my customized jim cramer inverse triple leveraged fund.

CrashisOptimistic's picture

How can they not see what is happening to Russian oil production.

It's falling.  Fast.  The decline will overwhelm ANYTHING OPEC can do.

It's like they are driving down a highway and never look up from the speedometer.

Urban Redneck's picture

How long ago was it that Russia started kicking out "Western Experts" because they were perfectly capable of finding the oil themselves?  Given the lengthy E&P lifecycle for a new oil well- that period might be suspiciously consistency between the two lengths of time. 

Everyman's picture

These fucking assholes either don't have a fucking clue or they are total unabashed liars and do not care about the outcomes other than short term.

I simply cannot really believe the shit that passes for "analysis" out of Goldman Sux or any of the other financail house any more.  I mean SERIOUSLY???  ANOTHER 180????

These fucking pricks need a bullet in their heads,  The are either more stupid than should be allowed to continue to draw breathe, or they are totally corrupt assholes criminals that need to be trteated as the souless dogshit that they are.

I mean GOD DAMN REALLY!!!!!!!!!!!!!!!!???????????????????????/

cityguyusa's picture

It sure would be nice if I could generate income just by opening my piehole.  These "upgrades" and other market manipulations need to be stopped.  Just today there was a report that identified that almost 90% of the commodity prices are due to day-traders (ie speculators).  This Goldman call just fuels the fire even more.

What reason would Goldman have to make such a prediction...I'm sure they are still trying to recapitalize and recreate their past wealth and as long as they can continue to manipulate markets and investors they will survive.  So they are very in vested in these trends.

Demand for commodities will drive them ever higher as long as there is an increasing population that can "demand" end products.  The question is since the US and Europe are not going to be such large factors on the demand side where will the demand come from?  China, Brazil, India?  It would seem unlikely that they will be able to continue to export their prodcucts and depend on the US and Europe keeping them wealthy as long as the middle class is imploding.

If these emmerging nations continue to pay slave wages they will never develop the internal demand to keep their own economies afloat when the emmerged or wealthier nations no longer have the cash to purchase those products ultimately leading to overdeveloped emmerging economies that end up crashing.

Superslam's picture

Short? Long? At this point let's just say that Goldman is shlong oil.

zorba THE GREEK's picture

 It's just like learning a new language, we recommend 

something means we want to sell something into

strength and a sell recommendation means we

would like to buy something cheap. What we have

 here, is a failure to communicate. 

bakken's picture

Maybe it is not wise to be contrary vis a vis Goldman published research. believe it either.  GS makes money with the smarts of an insider, not an investor.  How can some clown in NYC forecast whether or not Saudi will blow, or what portion of oil pricing is anxiety money?  Or if The Chinese will use price dips to sock oil away in Manchurian reserve farms using a price floor $X???X/barrel to trigger buying.

Nope, GS research is just shitty, but not regular enough to count on.  I only hedge production values(as a producer), oil as a commodity is now sensitive to a World full of influences.  I trade corn, that is easier.  Last year I broke even on my spec day trading!!!



holdbuysell's picture

"At this point we refuse to even recall whether Goldman is long or short oil."

Had to stop reading at this point, laughing to I can't recall either.

Nice one.

OT: Tyler, a good report "Brace Yourself" from Obamco was just issued. It's worth posting, if permitted.

Missiondweller's picture

" and moderate increases in monetary buying"


I assume this means central banks.

Diablo's picture

as per GS: "...over the long run silver prices tend to track the price of gold..."

so their 12mo forecast for Au is $1730

but their forecast for Ag is.....$28.90???? huh????


zorba THE GREEK's picture

 Au forecast is $1730 because central banks are

 buying [ie] too big to manipulate.

 Ag  forecast is $28.90 because it is small enough market

 to manipulate. When that party ends (fiat currency

 crisis) Ag going to the moon.

Rynak's picture

Some other mainstream investment websites also in the last 2 days have suddely switched to "buy PMs!". And when that happens in addition to GS recommending it, then that tells me that metals will be taken down soon big time.

I don't know how exactly, but i do suspect that the big justification for QE3, is just around the corner. If that were true, then RUN, because everything except of fiat will crash.

HowardBeale's picture

Goldman's existence is akin to a successful serial killer who continually taunts the public and the police; there really needs to be an end to Goldman's existence soon, as, otherwise, we're going to have an army of vigilantes that kills anything that looks like Goldman (most equally guilty, some not). It's time to reclaim America and get on with raising our families: Obama, either you take them down or American citizens will.

Careless Whisper's picture

goldmansachs, a hedge fund in drag, took biggest fed loan, according to docs released this evening.


zorba THE GREEK's picture

 QE3 will send PM's skyward and USD down.

Pete15's picture

We are so used to these crashes happening maybe a correction but come on the fundamentals scream get out of fiat, commodities are the only other option to save your purchasing power. Just because Goldman is losing its damn mind and dosent know what to do DOES NOT mean we do too; we're better than that. Maybe its possible they know we wanna do the opposite of them so they are fucking with us we got the momentum. Paul, Faber, Rogers and Schiff are getting more popular, people are listening and slowly waking up; they are realizing this sad fact



Monedas's picture

Dear Diary ! What a relief ! I sold all that old silver I bought at $6 / oz. ! Now I'll wait for it to drop to $20 / oz. and get back in ! Maybe I'll buy back in with SLV or Comex ! I've learned a lot on the blogs ! I'm a more sophisticated trader ! Monedas 2011 Sounds pretty silly ? Your so lucky to have Monedas ! The Rock !!!

SloMoe's picture

What I continue to find remarkable, is ZH's ability to distinguish a Goldman flip from a flop. Without help, I can't see the difference; they look the same to me...

slaughterer's picture

Goldman has alot of debate circles, and they change opinion day-to-day according to latest developments.  Plus, since the company has turned into a large daytrading outfit, they must change opinion as many times as a day trader to earn money.   What is deplored as flip flopping is seen inside the company as keeping the clients informed of the latest calls in a timely manner.  I would go along with this bullish call on oil as the purchasers of the IEA oil (the Morgue included) try to drive oil prices up to realize a profit on their new supplies.  Makes sense.  But they are all undermining the President of the USAs best intentions to strengthen "the recovery"  (what an overused word.

Quinvarius's picture

Goldman has long gold consistantly for a while now.

equity_momo's picture

Will hold off till Sep before i buy more Gold then.