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Jim Rogers Rotates From Gold To Rice, Sets Foundation For Next Bubble
During a presentation in Chicago yesterday, Jim Rogers may have well laid the foundation for the next bubble predicted by Zero Hedge in October, namely rice. His comments may have also spooked some of the weaker hands in gold, which has tumbled by $20 today, primarily on concerns what Chinese tightening may do to demand for the precious metal. Of course, how tightening is bad for commodities and good for stocks is one of those questions that can only be explained by the Fed's third mandate. From Bloomberg: "While gold “may go down for awhile,” the metal is “going to go over $2,000 in this decade,” Rogers, who owns gold, silver and rice, said today during a presentation to business executives in Chicago. Gold touched a record $1,432.50 an ounce in New York on Dec. 7. The price closed today at $1,387. “I’d rather own rice,” Rogers said. “I’d rather own something that’s more depressed than gold.”"
Rogers has long been bullish the MOO complex, and the recent surge in food prices merely validates his most recent predictions:
Agricultural commodities are “going to boom” as demand increases in developing markets, primarily in Asia, he said. All commodities will be supported by the weakening dollar, which is losing value because Federal Reserve Chairman Ben S. Bernanke is “printing money” by buying Treasuries in an effort to shore up the U.S. economy, Rogers said.
“Paper money is made of cotton, and I’m long cotton, by the way,” Rogers said. “One reason I’m long cotton is because Dr. Bernanke is out there running the printing presses as fast as he can.”
Rogers said he doesn’t own shares in U.S. companies and is short U.S. long-term treasury bonds. The Chinese renminbi may provide “almost sure profits over the next five to 10 years,” he said.
“In the future, it’s the stock broker who’s going to be driving the cabs,” Rogers said. “The smart stock brokers will learn to drive tractors, and drive them for the farmers, because the farmers will have the money.”
In the meantime, with the fundamental thesis that printing money will do little to strengthen the dollar unchanged, non-dilutable currencies of the precious metal variety are merely enjoying this latest shake out, which is certainly being welcome by banks like the PBoC which has the buying a few billions worth of gold to even remotely approach the actual (supposed) holdings of "sovereigns" like the GLD.
As for those who wish to catch the next bubble during the parabolic phase, we may recommend an early positioning in rice and its derivatives. And yes, rubber will be next.
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BTFD equities = go figure
Gold kinda nervous lows of the day here...
excuse me, but could we call a spade a spade at least at zerohedge?
gold is not going down due to Rodgers.
its going down because yesterday the CTFC gave JPM a free pass, and they are cratering the market praying that some physical shows up at the front door of the Comex.
Christ, can't we be honest at zero hedge?
Gold down is fine with me. Just means I get a better price on my regular purchase.
Silver down over a buck..
'The bears' said 2 months..
In 'the bears' we trust.
Starting to think you may be right.
I've updated this post with some very important info...I think. Please read before the close today:
http://tfmetalsreport.blogspot.com/2011/01/that-was-then-this-is-now.html
Jim Rogers likes publicity. He is an entertainer. He is also a trader. Consequently, he is a person, like his old pal Soros, whose statements are more misleading rather than being honest and helpful.
I agree. He is a publicity whore
My silver holding got whacked today
have to agree here. the major raid yesterday on the PMs was incredible - more so because it was during the CFTC meeting. They'll keep raiding it as much as possible throughout january, and then it'll come back up Feb and March like crazy.
Besides, any real role in rice is impossible unless you trade contracts. the 3 ETFs with some rice are a bunch of grains and agricultures. So even if rice goes up, a bunch of the other components mgiht go down. So you get what for your trouble? Shit? Yes. Shit.
> yesterday the CTFC gave JPM a free pass
I don't know who to believe any more...
CFTC proposes stringent commodity limitsJan. 13, 2011, 10:17 a.m. EST
WASHINGTON (MarketWatch) -- Seeking to combat manipulation and speculation, the Commodity Futures Trading Commission on Thursday voted to propose a rule that would restrict the number of commodity futures and option contracts that any investor can hold in energy, agriculture or metals derivatives. "Position limits help to protect the markets both in times of clear skies and when there is a storm on the horizon," said CFTC Chairman Gary Gensler. The proposal was introduced by a vote of 4-to-1.
http://www.marketwatch.com/story/cftc-proposes-stringent-commodity-limit...
Horses out. Barn door closed.
its total BS, they have a sixty comment period. Note they voted to PROPOSE a rule.
we have been here before....we've had several "comment periods" they have received literally truckloads of emails, letters, Fedexes....
it all means nothing. they work for JPM...
I don't want to buy anything that feeds the Chinese Army. The Peace bubble is about to burst too
If it's in your hands, then it's not in their mouths. How does that feed them?
glad to see war profiteering still has its proponents. by investing in rice futures you drive the price higher, cause the inflation that destroys the Chinese government from within, and sends troops out across the borders. those who repeat history are obligated to read it.
@876086
Don't worry about the Chinese Army.
Worry instead about the amerrikan army, who runs around the world like lunatiks killing millions of civilians for no reason other than to be cruel.
and who do you back in that contest?
All the powers that be are trying to do is force everyone into equities, to take the huge amount of overpriced crap off their hands before this whole corrupt to the core system implodes.
I'll buy the dips on precious metals thank you. Don't trust these criminals one bit. Not when the market has already proven it can fall 10% in 10 minutes.
It's all just one giant ponzi scam, no way this can be unravelled nicely, they aren't even trying to, they are simply trying to pump the ponzi further.
Precious metals are truth.
Sneak Preview: Market Crash (May 6th, 2010)
http://www.youtube.com/watch?v=WmpNTtQu8E4
Make sure you take delivery!!
You can't eat ri...nevermind.
Nice one.
A rice ETF anyone?:)
Don't think so. RJA may be the closest you can get.
......and a stockbroker-aid.
Better book Willie before he croaks.
As real food shortages may be imminent, food hoarding/speculating has its political risks. Like maybe you end up hanging from a lightpole.
Maybe Bernank and Geithner end up hanging from light poles instead.
Swing'em all
You're being too merciful! Pain Amplifiers are where it's at.
Yes; the 'folksy' Jim Rogers is a very astute trader; very. But he is also an elitest reptile who just called the black swarm of cyber-money down onto Asia's staple food.
After dissin' an icon, your pic's just gotta hit the most muscular pose.
Exactamundo.
Jimbo, maybe try and look yourself in the mirror sometime.
Rice? Getta life bottom-feeder.
Who needs rice? I just need beans.
Brother Zina,
You can LIVE almost indefintely on Rice and Beans, and Water.
Snag a couple of 50# bags.(of both)
I hate rice, I'll buy black beans and oats all day though. Loadin up more today this will get ugly. Dont forget salt either, at one time was the worlds main currency.
Sodium Bitches! ( Sorry, had to do it)
No need to apologize, you just beat everybody else to it!
minor correction: it's sodium chloride bitchezzzzzzzz!!!!!!
which passes the smell test?
beans...the musical fruit
+100 LOL
So are we gonna go mad max style collapse? Rome collapse? Soviet Union collapse? Or like is there's gonna be a "Viva la revolucion? With cigars and patrol caps?"
As long as the bernank ends up hanging from a lamp post i do not care what type of revolution we have, we can have a 'wear a tu-tu revolution' for all i care.
Screw that, I want a lot of fkin heads from poles.
Dos, you got that right.
NOT ONE on these guys has gone to jail, in the biggest financial crimes in world history. This will not end well.
I am almost done with my gold buying. I am near 10% in physical PMs (most in gold), which is good enough for me. There's a lot going on in my life that keeps me from upping that much more. 10% is plenty though.
Next is food (I have only a "starter" collection) and water cleaning devices. And of course I need to buy and fire more 9mm and 7.62 x 39...
+1 and he will have neighbors!
More like Collapse, American Style. Think big-screen led tvs and iPads.
Jimmy nailed the whole enchilada.
I like enchiladas.
China tightening this year .... Nooooooooooo
If the economy gets better, the new growth will need fuel = higher commodities.
If the economy doesn't get better, central banks are gonna print = higher commodities.
The only way commodity prices drop is if the economy gets worse and the PTB decide it time for a good 'ole debt and asset price deflation spiral from hell that wipes out the Fed, the TBTFs, and all their politicos and MIC cronies.
Which scenario are you betting on?
http://therookiecynic.wordpress.com/
Jim Rogers also lumped silver into the same bucket as rice. He's not selling and will buy more if it goes down (which it obviously has).
“Silver is still 40 percent below its all-time high. So silver has not been any sort of great bubble compared to perhaps some other assets we know.”
This occurred to me yesterday: Since we all know that EVERY number that is generated by TPTB is, at the very least, suspect, if not outright fraud, then:
Why couldn't they lie about the price of gold and silver?
It seems to me much easier to publish a fraudulent price than to actually go naked short 100's or 1,000's of contracts.
All of the banks and governments are in collusion, wouldn't it be easy to make a conference phone call and just say "drop them both 2%"?
i'm going to COSTCO tomorrow & load up the shopping cart with RICE now ........ my family thinks i'm nuts.
In the category of "it's better to have it and not need it, than to need it and not have it", rice is about the cheapest insurance out there.
I'll be perfectly honest with you, I don't think we're ever going to need it...but I damn sure have a lot of it. And just like you, I'm doing this for my family, who also thinks I'm nuts.
+100
And I'd keep it quiet as possible, if you know what I mean.
I have no idea what you're talking about. ;)
Most of the Americans who lived through the Great Depression are dead. Americans nowadays don't have a clue: ill-informed, dependant, vulnerable. My grandma, who is 90+ years old, still washes off the tin-foil and reuses it a few times before throwing it out. We all think that's a little nuts, but she remembers. Ask Russian fathers and mothers about shaky economic times and you will get an education. Google Dimitri Orlov if you want to know how to prepare for hyperinflation. I honestly hope it never happens, but I've become a "prepper" all the same. It makes sense to hope for the best, but be prepared for the worst.
LOL.. My sole remaining grandparent, is over 90 and lived it. I took her to lunch the other day and she didn't finish her sandwhich, so she pulled a bit of plastic wrap and a ziploc out of her purse and packed it away for later! I had to chuckle to myself.
I'm making a point of trying to be more like her.
Orlov is a complete crank.
How so?
Look at what happened in OZ! You should have a full pantry at al times. Enough food for your family is as important as gold or silver. PS get something you can eat, all beans has it's own issues.
Was there last night. 50lb bags are about $17 and change.
I'm a with you lynnybee and your are not nuts. I put 300lbs each of rice and beans away last weekend. I'm long rice 600lbs, beans 600lbs, corn 300lbs, and wheat 900lbs along with other long term storage food. Need more fat and protein though.
Wow. Kick ass supply quantities. For fat and proteins with reasonable shelf life, think peanut butter, canned corned beef, and canned chicken/tuna. They will all last a few years unopened.
I have some of that plus some coconut oil(good for two years unopened) and some nasty veg oil. What I would really like to do is get a hog and can the meat and the lard. Because of the fat nazis you can't find fresh lard anywhere (at least I have not found a local source).
Don't forget the backyard squirrels. You may have to boil the hell out of them though-some of the little buggers can be tough.
But you can't eat it, it's an investment now! I have a sandwich-heavy portfolio myself.
You don't need to go crazy. One 10KG or 20Lb sack of rice will feed one person two nice meals per day for a year.
While you are at the grocery store stop by the bakery dept and get some of those white plastic 2 1/2 gallon pails, one pail per sack of rice. They used to give them away now they charge a dollar. The pails pie filling comes in.
Put the rice in the pail, the lid seals tight and keeps the contents fresh and vermin free. Keep a juice pitcher or glass or metal container full in the cupboard for immediate use. Put the pail away in a clean dry dark place.
I think it would have fallen a little harder and faster if it wasn't for the CPI data.
everything will come down in a few weeks, why not wait to buy?
Better to short MOO (agribusiness) and buy agriculture as a pairs trade?
Forget commodities.
Credit card stocks are going to be the next big bubble.
One these morning your BS equities will just be worth -0-, markets probably wont even open due to the 'unforeseen tragedy', whether its Bernankes 'remove liquidity in 15 minutes' plan or otherwise, so Robo youll be left holding your dick without any food or any other commodities. You can think this is all a joke all you like, you'll be hit hard. Pride cometh before the fall and youre the most arrogant sumbitch I see around here.
Obviously the idiot hasn't looked at Visa, V, or MasterCard, MA, lately!! He/she is FOS
I think you guys are too harsh sometimes re: Robo. RT's not saying "buy COF buy COF!!" If anything just possibly pointing out something that may indeed be overpriced, something it seems ZH'ers might agree with.
As often as not it's a chart with a comment and not necessarily an opinion either way on direction. Some things just keep going higher despite evidence that the contrary should be happening. Not saying I like it, just the way it is these days.
That's a good observation Blano. Robo often does NOT put an editorial with his chart, I sort of realized that the other day.
RobotTrader stock up?
+100
Oops double post.
Another Robo non-sequitor. I cut you a lot of slack because I like your avatar.
Yo Robo,
Will your mom let you store rice in your bedroom? How about the garage?
Time to screw the Asians, the JP Morgue is at it again, they will not rest until they rule the worlds
NEW YORK (TheStreet) -- ETF Securities is adding one more gold ETF into the mix, but this time the gold is stored in Singapore.
ETFS Physical Asian Gold Shares is slated to debut on the New York Stock Exchange this Friday under the ticker symbol "AGOL" and ETF Securities is hoping that the lure of gold stored in Asia will help jumpstart investor demand.
The gold will be held by JPMorgan Chase in a recently purchased vault in Singapore under the London Bullion Market Association's rules for Good Delivery.
Thats wierd..why would JPM want to store it in Singapore?????? Why not the USA????? Hmmmm..less regulations over there....but don´t spit on the street...
Saw that. They're offshoring the fraud
End the Fed, end the fraud
WHO in their right mind would store,(paper ETF GOld), in a Red Chinese Bank?,when we cannot even trust OURS?.
Source FT 1/6/2011:
% Change in certain commodities since 1/1/2010:
Coal +42%. Corn +34%. Rubber +78%. Soybeans +32%. Coffee +62%. Iron ore +43%.
Key questions: did the US economy improve sufficiently to cause this giant move? If not, can the costs be realistically passed on to consumers? If not, can businesses withstand eroding margins? If not, can more layoffs, offshoring and cost cutting to maintain stellar earnings reports be far off? And if there's more unemployment and lower wages will housing prices rise? If not and if there's deflation in personal income and assets, while the cost of living rises what will the Fed response be? Can you guess? The wrong guess would be 'change the plan'.
Screw it, not one thing on there I use.
Its the poor 3rd world bstds I feel for.
BTW, got new tires?, best get em.
These takedowns at the Comex are doing nothing to lower open interest or notices standing for delivery. This is the cartel in a state of panic. Investors are catching on and da boyz better learn alchemy in hurry.
http://harveyorgan.blogspot.com/
JP Morgue- 'Hey everyone guess what? We invented more paper gold this time in a vault in Singapore! Come buy a lot!'
You got that right. Notice corn selling off after panic reports of lowest stocks since 1995 with increasing demand for ethanol. :-) Benny Boy!
Well, when your a damned fool to use food for fuel, you deserve what you get.
Using Ethanol to destroy engines is insane at 10%+ levels.Going to 15%, is slap assed crazy.(and gonna cost you/us a fortune in engine repairs).
DosZap, two home runs in one thread!
Food ETFs DBA and CORN may be good speculations, although they have had a big run.
Disclosure: I own DBA.
The lower the price the higher the physical demand.
They only play kick the can
Good call on rice, there's food riots breaking out, but Rogers always says gold over $2000 'this decade'
But Jim still lives in Singapore because the USA is so screwed. I'm bearish on gold when Jim Rogers moves back.
Rice probably is a good investment, I hate rice myself though so I'll stick with loading up on beans and oats and cans of long term food. Dont forget the real PM's either, ammo and firearms.
That is what I love about ZH. I come over here and get all kinds of excellent investment iideas. I am long Hershey bars and Bayer aspirin.
Better believe he's going to move back.
I'm sorry but gold is holding very strong since 1380 support was broken. If everyone switches over to food and bubbles that gold and silver will seek veangence.
Rice Bitchezzz!
When it comes to rice, I buy the physical.
Franks and Beans. Bitchez
Just don't ever get caught with the beans above the frank.
How'd you get the beans above the frank?
Bluster and Swagger alert
Rogers' level of investment would not be able to buy sizable physical in gold or silver (like Buffett tried to do a while back), so IMO he's rotating out of paper contracts, not the physical.
He's trading for a living. That means moving investments around, but it also means doing so only in most liquid paper contracts, not physical.
BTW, the lowest strata of earners on this planet are being starved again as "traders" pile into food commodities and launch prices for food stuffs. That is why riots are occuring, and why they are occuring in poor nations. Replay of 2007 when starvation gripped the lowliest on this planet due to speculative run ups in commodities.
"BTW, the lowest strata of earners on this planet are being starved again as "traders" pile into food commodities and launch prices for food stuffs. That is why riots are occuring, and why they are occuring in poor nations. Replay of 2007 when starvation gripped the lowliest on this planet due to speculative run ups in commodities."
Correct and Rogers knows that better than most. His ilk is reptillian and soul-less. I am in accord with David Ickes on this point.
on Fri, 01/14/2011 - 12:10
#876381
"BTW, the lowest strata of earners on this planet are being starved again as "traders" pile into food commodities and launch prices for food stuffs. That is why riots are occuring, and why they are occuring in poor nations. Replay of 2007 when starvation gripped the lowliest on this planet due to speculative run ups in commodities."
Correct and Rogers knows that better than most. His ilk is reptillian and soul-less. I am in accord with David Ickes on this point.
***********************************************************************************
Business is Business... but considering the group, does anyone here suffer so much that they might need to cause duress for many elsewhere?
I think Not!
Is my data wrong?
I have 176 new lows on the nyse
That like 125 more then monday
WFMI had that day again, yesterday. Jimmy owns the high end grocer, I am sure. Too bad Rpdgers does not have enough cash to add to his gold position on this dip. Maybe he is just jealous that he missed the move to $1800.
Platinum, bitchez!
Mr Lennon already knows platinum is my sentimental favorite too.
If those of us (inc. me) are WRONG about big problems to the world economy coming soonish, then Pt will be a GREAT play on China and the world economy.
One thing that panicked them into a 'national security' response to commodities:
In addition to the Prius, rare-earth minerals such as neodymium and dysprosium are used in motor magnets in Nissan Motor Co.’s all-electric Leaf car, General Motors Co.’s plug-in Volt and Honda Motor Co.’s Insight hybrid, as well as in mobile phones and rechargeable batteries. Toyota confirmed last year it has a task force to find rare-earth supplies outside China. -Bloomberg That alone could sink GM. Again.
+1
+ 2 (Tb and Dy)
actually the body needs fat also..get some crisco....canned bacon......etc
I hopped over to MSN.com to check my local weather report and noticed they have a headline: Global Food Chain Stretched to Limit . . . Rising demand and bad weather send prices soaring. Not one friggin mention of speculation in the commodities markets or the Ben Bernanke.
Jeesh, makes me question the legitimacy of the weather reports from their site.
Bad weather bitcheez!
This Gold/Silver dip is a physical scrammble.
While everyone is in a skittles induced Riverdance over at the Dow.
Muni's have started a "STAMPEDE" !!!!!!!!!!!!!!!!!!!!!
http://finance.yahoo.com/q?s=CXE
Many penetrated down through their 52 week lows.
http://finance.yahoo.com/lookup?s=muni
Grab your kanckles !
Funny - When they have collateralized all the food in the world with debt it will turn to paper and you can't eat that.
whats a kankle????
From the Urban Dictionary:
Calves that become feet without taking an ankle break.
For a visual checkout out Hillary Clinton.
Jim rogers gave an interview where he listed Silver and Rice as his picks for 2011. The problem with Rice is that India has a record rice harvest and so has Sri Lanka.
http://dawnwires.com/business/rice-prices-will-rise-jim-rogers/
Jim says; "Gold? Gold will be CRUSHED".
Platinum staying above $1800. Who cares if gold dips, short it, see if we care. There are two sides on every trade. One side has to win eventually. As for now, Blythe will churn gold lower and Carlos Slim will buy the f'n dip, Rodgers will shop at Whole Foods and GE will sell NBC to buy netflix.
Oops. I see gold is down $30
People who do not understand finance make me laugh. Gold is monie. It is the first loan of recourse for the banks. It is the prop trade. Shorting gold is treason to the economy. It should be illigal for anyone to short gold, because gold has no paper contract.
Yet paper binds itself to gold like a dog dry humping gold's leg. People think of gold as just another trade when it is monie. But here people do not understand it lasts forever, can be made into pieces, and is recognized worldwide as those two things. What is monie? Read the definition. It applies to gold, and only gold.
Gold is at the bottom of its support, so what. It has been there this whole year. And since all of the world's monie revolves around gold, because gold is monie, equities would crash if gold goes down past $1350. I would love to see equities crash. Dow Jones 10k with gold at $1300 would be awesome.
But like I said I could care less. I have been watching platinum move from $1730 to $1820 and loving every minute of it. Keep gold at $1350. More time for all the bugs to buy!
Check my post in the intel earnings story. I see sheep. Fattened for a slaughter.
Gee I sure hope it doesn't get fed into a futures roll that ends with DELIVERY!!!
You can't lose until you take the vital first step. Win.
Rogers merely gets advance notice of raids on gold and currencies. Once the banks spend enough of of our money running down paper gold, they will mysteriously show up with all their bank vaults full of the real thing.
+1000
We've been writing on this for some time. China is doing everything they can to put the brakes on their economy. This may slow gold and silver but, it can't stop hungry people. The next bubble is food prices and it could get ugly. The numbers are just scary.
http://blog.commodityandderivativeadv.com/2011/01/14/food-inflation-is-h...
Tell you guys something; JPM and Jim Rogers and the rest of the round-eye Westerners keep fucking with commodities and we are going to see some serious fireworks. Asia is a very large place and they eat a lot of rice.
The Renmin Ribao will be on this like . . . white on rice. They will trumpet headlines blaming the food inflation in the PRC on Lao Wai speculators. Watch and see.
And own an awful lot of USTs.
May you live in interesting times.
There's really no such thing as rotating from gold and silver into the soft commodities, in a macro sense, because all the emerging market central banks will simply buy more gold and silver as a hedge against rising food costs. In other words, gold and silver are the money one needs to buy softs and energy.
True. It's not called rotation unless you run OTM. In the real world it's called CUTTING YOUR LOSSES !!!!
Hell, lets just run up water and air too...
Rubber? Can somebody explain why rubber is going up?
Gold bugs are padding their rooms.
Lol'
Padding their positions more like it. You want a laugh?
From cnbc:
Dollar recovered from what? A binger? Did it wake up on the beach naked and alone?
“I’d rather own rice,” Rogers said. “I’d rather own something that’s more depressed than gold.”"
What an idiot and liar.... with Gold one can purchase Rice no matter the social climate.
There are so many mouth-pieces trying to talk down gold and silver it shows how weak they are becoming.
by Spalding_Smailes
on Mon, 12/20/2010 - 16:51
#819500
Jim Rogers would not buy gold at this price - REUTERS 2011 INVESTMENT SUMMIT
http://www.youtube.com/watch?v=yZDVJ4L0Lbg&feature=related
The MMV down over 5.5 %
Eaton Vance Massachusetts Municipal Income Trust
http://finance.yahoo.com/q?s=MMV
Volume picking up in the stampede out of public debt
I'm goint to change the subject abruptly but not with a 6-month AAPL chart.
I think munis are in a panic selloff. I am thinking about picking up a CA tax-free fund. What do you make of this, Curly?
He doesn't hate gold and he wasn't talking it down (I was there Wednesday), he just thinks you'll make more, quicker, in other things, most notably foodstuffs and rubber. He said he liked rice because that's the staple for the 2+ billion people in Asia and it hasn't moved that much (down from recent highs). I like it 'cause it's crazy labor intensive to grow (read "Outliers"), and there are occasional shortages or runs on packaged rice. He also said he wished rice was a bigger index component but it can't be yet because it's so thinly traded, so if he's pushing a postion here, it's to grow open interest if anything.
Rogers used to say the best commodity to won is SUGAR. What happens to his sugar?
He talked about that, too, made the point that despite its recent (2 yr) run it's still well below its IA all time high. That said, the 30 yr sugar chart looks a little like gold to me...
well I hope Rogers owns a Rice farm and he isn't playing with the paper stuff. My Fiance's parents do so it looks like I can concentrate on the yellow stuff!
maybe rogers should move to Thailand like Marc Faber(and me) where Rice and Gold is grown and easily accumulated
I'm going to immediately sell my little stash of gold in my old sock and buy 47,000 lbs of rice and store it in my ...?
Grain silo. This is a clear example of just how fucked they've become. They are attempting to herd people away from gold into illogical nonsense.
If they really want to plunge the price of gold, then some key prosecutions need to take place to re establish trust. Gold spikes in value due to counter party risk and of course massive money printing.
We can't afford trust. SEC needz more monies. They only have 1 billion budget and can't do much. We'll just have to do it the old fashioned way. Lie, keep lying keep up the lie. Wait for it to stick.
Buy gold at $1250 near the bottom of this pullback; buy silver at $23 near the bottom of this pullback.
Now, looking for help here--if we face TEOTWAWKI (catastrophic social/economic/political failure), when does it happen, what is/are the catalyst(s), and is it a slow-to-boil or flash fire? If we don't face TEOTWAWKI, how bad will the meltdown, if any, be, how long will it last, and when do we know we are at bottom?
I figure that you cannot know whether and when to buy physical PMs or paper/electronic PMs unless you know the answers to these questions. If TEOTWAWKI, better buy physical only PMs and everything else--fuel, weapons, ammo, food, water. If not TEOTWAWKI, then paper/electronic PMs and such will be fine.
Why do ZH readers and posters all seem to think "the end is near"? Are you clued into something that 1000 times your number just cannot see? Is it their normalcy bias? Is it that they are lambs being led to slaughter by the political/corporate/financial interests of global hegemons?
If 99/100 ZH readers believe we face TEOTWAWKI in by the end of, say, 2014, does that not cry out for a contrarian view and action based on it?