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Love Explosion In Gold

Tyler Durden's picture




 

WOPR just blew a vacuum tube from all the VWAP-associated petting.

 

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Fri, 07/31/2009 - 12:12 | 20687 SV
SV's picture

Even the gold desk needs to show a good month now and again. </sarc>

Fri, 07/31/2009 - 12:14 | 20693 Anonymous
Fri, 07/31/2009 - 12:17 | 20695 The Deacon
The Deacon's picture

Heard in the NY FED's basement,

I knew Fred shouldn't have stepped out to go to Starbucks.  Man will he have some work to do when he gets back.

Fri, 07/31/2009 - 12:54 | 20772 Jim_Rockford
Jim_Rockford's picture

Today's chart looks like a happy little tree ....

Fri, 07/31/2009 - 13:26 | 20817 ShankyS
ShankyS's picture

Sweet - Bob was a classic. 

Fri, 07/31/2009 - 12:17 | 20696 ShankyS
ShankyS's picture

Golden shower. LOL, Ben "making it rain" in the gold market. Get out the umbrellas - inless you are into that shit

Fri, 07/31/2009 - 12:21 | 20700 Gilgamesh
Gilgamesh's picture

Do NOT Ben Dover!  Keep dancing.  If I see one more Ben Dover before the song is over...

Fri, 07/31/2009 - 12:22 | 20701 Anonymous
Anonymous's picture

disgusting

short the stock market. let the plunge begin!

Fri, 07/31/2009 - 12:18 | 20697 Anonymous
Anonymous's picture

Got foreign-denominated leverage? Canadian mining WARRANTS.

Fri, 07/31/2009 - 12:24 | 20707 Anonymous
Anonymous's picture

Silver making a huge move too. How much longer does the dollar really have?

Fri, 07/31/2009 - 13:17 | 20807 ghostfaceinvestah
ghostfaceinvestah's picture

How much longer do any of these fiat currencies have?  Not long, I suspect.

I'm betting the vote to increase the size of the latest handout (CARS) is not helping things.  We face a near death experience as an economy, but go right back to spending like drunken sailors.

Why should the dollar have any value when it is so easy to create out of thin air?  Bernanke printed $10B more this week, let's spend it all.

Fri, 07/31/2009 - 14:38 | 20896 Anonymous
Anonymous's picture

An investment in gold or silver is an investment in one of two scenarios:

1) Hyperinflation - We are not seeing even a sniff of this.
2) Complete collapse of monetary system - If this happens we would have severe civil unrest on the par of the collapse of the Roman Empire. Good luck holding on to your gold in those conditions.

(Kind of reminds me of all the silver and gold hordes unearthed in England from inviduals who buried their wealth to protect it from Viking and barbarian raiders. Needless to say, they were not alive to dig up their treasure)

That said we are in deflation, and till know very much politically stable. If you really think that we are going to anarchic collapse, which is a view I don't share, then you should invest in weaponry and like survival goods and not in a useless bright metal.

In any case gold is not a good investment now.

Fri, 07/31/2009 - 14:38 | 20897 Arm
Arm's picture

I did not realize I was not logged in.  This is Arm

Fri, 07/31/2009 - 15:45 | 21068 dying_bear
dying_bear's picture

Hey Arm, looks like tranquility base has been overrun...

Fri, 07/31/2009 - 23:44 | 21637 ClassyLassy
ClassyLassy's picture

97 days...

Fri, 07/31/2009 - 12:26 | 20711 glenlloyd
glenlloyd's picture

The dollar is taking a beating

Fri, 07/31/2009 - 12:32 | 20729 Anonymous
Anonymous's picture

What the heck is WOPR?

Fri, 07/31/2009 - 12:36 | 20738 Anonymous
Anonymous's picture

An offshoot of HAL9000 and Skynet. We estimate that in the next 300 days, it will become self-aware.

Fri, 07/31/2009 - 12:37 | 20741 Anonymous
Fri, 07/31/2009 - 12:40 | 20746 Anonymous
Anonymous's picture

WOPR was the "Shall we play a game?" in the Matthew Broderick 80's move Wargames. Think of it as an out of control mega computer surrogate when encountered at ZH.

Fri, 07/31/2009 - 13:50 | 20848 Anonymous
Anonymous's picture

ah yes, the old dial up days. my my...

Fri, 07/31/2009 - 12:43 | 20755 Missing_Link
Missing_Link's picture

I take it you didn't grow up in the 80's.  It's that computer from the movie "WarGames":

 

http://www.youtube.com/watch?v=NHWjlCaIrQo

Fri, 07/31/2009 - 12:49 | 20764 Anonymous
Anonymous's picture

From the movie Wargames

Fri, 07/31/2009 - 12:39 | 20744 Anonymous
Anonymous's picture

rates way down and dollar way down. my Tandy-100 is having trouble figuring this one out.

Fri, 07/31/2009 - 12:48 | 20763 Anonymous
Anonymous's picture

gold is a scam

Fri, 07/31/2009 - 13:03 | 20790 Anonymous
Anonymous's picture

Without the rule of law, a promise is the scam.

Fri, 07/31/2009 - 13:15 | 20806 Anonymous
Anonymous's picture

versus what? the stock market?

Fri, 07/31/2009 - 13:53 | 20850 Anonymous
Anonymous's picture

i am a bug, and i would have to agree, more or less. what isn't a scam? self reliance, survival instincts and abilities, good water, food, ammunition, firearms, good dependable friends, things to trade, etc. much more important than yellow metals....

Fri, 07/31/2009 - 12:51 | 20768 mule65
mule65's picture

Shouldn't SPY be 100+ with all this good news?  I suppose it's still early.  Buy!  Buy!  Buy!  Don't worry about dollars or metals.

Fri, 07/31/2009 - 12:56 | 20776 Anonymous
Anonymous's picture

people forgot that America has more than one enemy in the world. Chinese buying or not buying US debt is an issue but not the only one. The jihad against America has not stopped with the engagement in Afghanistan, or Iraq. Someone out there still hates America. And I suspect that that is where the non priced risk in the market lies. Unexpected large scale terrorist attacks.

Fri, 07/31/2009 - 13:57 | 20853 Anonymous
Anonymous's picture

who is our enemy and who is our friend? are you still believing that muslims are our enemies? why would you think that? bush said himself that the afghans nor the iraqis never had anything to do with 911. so may i ask you. who did? do you know? oh there may be another terrorist event, but be sure you understand, that if there is, it will be done by your own government and then it will be made to look like someone else did it. classic mossad operation. by deception, thou shall do war.

Fri, 07/31/2009 - 17:42 | 21282 Anonymous
Anonymous's picture

Well how convenient. We always need enemies to fight don't we?

Fri, 07/31/2009 - 15:57 | 21096 Anonymous
Anonymous's picture

WHO is our enemy? From the Koran: "Slay them wherever you find them...Idolatry is worse than carnage...Fight against them until idolatry is no more and God's religion reigns supreme." (Surah 2:190-)
"Fight against such as those to whom the Scriptures were given [Jews and Christians]...until they pay tribute out of hand and are utterly subdued." (Surah 9:27-)
"Say: 'Praise be to God who has never begotten a son; who has no partner in His Kingdom..." (Surah 17:111)

Who is our friend? For God so loved the world, that he gave his only begotten Son, that whoever believes in him should not perish, but have everlasting life. (John 3:16)

Oh, I forgot, Obama says that we are no longer a christian nation. So then, who IS our friend?

Fri, 07/31/2009 - 13:02 | 20788 curbyourrisk
curbyourrisk's picture

When it breaks over $1,000 I will believe it.  As for now.....GOLD is a store of value.  Get long Oil if you think we are gonna go hyper on inflation.

 

I stand by what I have said....deflation out another 2 years.

Goldbugs be damned.

Fri, 07/31/2009 - 13:59 | 20856 Anonymous
Anonymous's picture

well when it breaks over a thousand, curby, you can go buy some, oh excellent call on the deflation and going long on oil. do you work for the goldman sachs squid consortium? :)

Fri, 07/31/2009 - 14:10 | 20867 Cindy_Dies_In_T...
Cindy_Dies_In_The_End's picture

Leave Curby alone. Curby is cool. Not sure I agree with Curb, but no GS there.

Fri, 07/31/2009 - 14:22 | 20881 curbyourrisk
curbyourrisk's picture

Thanks.  GOLDMAN MUST GO TO ZERO before the economy can turn around!!!!

Fri, 07/31/2009 - 14:35 | 20893 Anonymous
Anonymous's picture

AMEN!!

When Lloyd Blankfein is rooming with Madoff, Consumer confidence will return. And not until

JUSTICE....where is it?

Fri, 07/31/2009 - 13:04 | 20793 Anonymous
Anonymous's picture

i'm just happy we have all this price stability in oil/gas/dollar and commodities in general. thank goodness for the fed. and full employment... almost forgot about the dual mandate.

Fri, 07/31/2009 - 13:05 | 20794 Anonymous
Anonymous's picture

Gold is a massive hedge fund position and this looks like th price was pushed up right at month end mark time. This whole system is corrupt and its all getting closer and closer to the ultimate end game.

Fri, 07/31/2009 - 13:18 | 20808 Gilgamesh
Gilgamesh's picture

No, sorry.  The Dollar tanked before gold spiked (there was a 15 min or so lag).  Silver was running up real-time with the Dollar drop.

 

Gold is underperforming the dollar weakness today, by a wide margin.

Fri, 07/31/2009 - 13:26 | 20816 lsbumblebee
lsbumblebee's picture

What triggered the dollar's fall? Did Geithner say something stupid again?

Fri, 07/31/2009 - 13:38 | 20829 mdtrader
mdtrader's picture

Why are treasuries so strong if the dollar is weak and gold is rallying, all very odd.

Fri, 07/31/2009 - 13:45 | 20842 Anonymous
Anonymous's picture

Gross interventions, first over here, then over there, then all at once. Markets are broken. Unstable, gyrating, shaking, rattling and coughing up blood.

Fri, 07/31/2009 - 13:51 | 20846 mdtrader
mdtrader's picture

People buying treasuries, gold, and selling the dollar. What has made them so nervy ahead of the weekend?

Fri, 07/31/2009 - 14:21 | 20879 curbyourrisk
curbyourrisk's picture

Traders are expecting the FED to stay with QE in perpetuity....In effect they are waiting for Ben to monetarize the debt.  If it does not happen, as I believe it won't, bonds will change direction FAST and rates will spike.

 

Fri, 07/31/2009 - 13:39 | 20830 Anonymous
Anonymous's picture

In the context of a COT-liquidating attack on gold like we saw this week, especially given it was roll week, options expiry and a record Treasury auction, this week's manipulated smack of gold was very weak.

My trading associate agrees with that analyis. Usually they take gold down 5-10% on a week like this week.

The gold shorts/bears should be freaked out.

Fri, 07/31/2009 - 13:42 | 20837 mdtrader
mdtrader's picture

Too many people bullish of gold. Makes me nervous. Sure it can go to $1500 maybe $2000 longer term, but it might just wipe out the longs first with a trip to $700, perhaps $600 on a second deflationary shock.

Fri, 07/31/2009 - 13:57 | 20854 lsbumblebee
lsbumblebee's picture

Look for a big finish up in equities. Can't have them lagging behind when gold had such a big day now can we? No no no that just won't do.

Fri, 07/31/2009 - 14:20 | 20878 Anonymous
Anonymous's picture

dow moved up pretty good past few days, so did dollar, when gold/silver hardly moved or even dropped. it's in equilibrium once more. gold/silver heading for year high. waiting for IMF to unload some on a good price, then restock your supplies of gold and sky's the limit.

ZH can promote deflation all it wants, but common sense will tell you that when (not if) the economy gets back on it's feet inflation will sky rocket. deflationary signs only encourage me to buy more gold/silver. inflation reduction has hardly ever been an objective for the fed, nor will it now.

Fri, 07/31/2009 - 15:46 | 21069 I need more cowbell
I need more cowbell's picture

What common sense?

- $20-30T (USA alone ) wealth loss, so far; and housing is nowhere near done going south, nor CRE, nor a lot of shit

- massive under-and-unemployment; wages in decline. Many many of those jobs are not coming back, ever.

- Japan, world's second largest economy, tried same bullshit we're trying, didn't work. There are more analogies to Japan than differences.

- Deflation for a very good while.

Fri, 07/31/2009 - 14:17 | 20874 Anonymous
Anonymous's picture

Big push for S&P to close over 1000. Has to happen to sucker in more fish into the pond. With the news lately, these markets should have seen at leat 25% correction from present level. You know what the say, the bigger they are, the harder they fall. I just hope it takes out some of these C**ksucking Traders this time around. Douchbags should have drowned on their own saliva during the last drop, instead of getting bonuses for their incompetance.

Fri, 07/31/2009 - 15:28 | 20889 mdtrader
mdtrader's picture

Crude joins the party, what is going on? Are they going to devalue the dollar at the weekend lol!

Higher crude bullish for consumer spending, honest.

Fri, 07/31/2009 - 14:41 | 20901 Anonymous
Fri, 07/31/2009 - 14:42 | 20903 Anonymous
Anonymous's picture

Any idea who is bearraiding the DXY today? I have heard rumors of Treasury buying using currency swaps-which is dumping dollars/repatriation scam

Fri, 07/31/2009 - 18:36 | 21373 Anonymous
Anonymous's picture

the usual, yeah

anyone got any commentary on gold technicals?

Fri, 07/31/2009 - 14:44 | 20905 Anonymous
Anonymous's picture

looks to me like crude is up on dollar weakness, bond are up because the combo of lousy GDP and much higher energy costs will take this economy down even harder.. gold is a head fake up with oil but will get slammed as it becomes obvious that the economy is going to drown on higher taxes, higher energy and joblessness

Fri, 07/31/2009 - 14:58 | 20944 Anonymous
Anonymous's picture

why would gold drop if economy is going to drown? I fail to see the correlation. economy HAS drowned and gold has remained high.

also: deficit has never been so high, obama might increase taxes on some issues but overall spending will be much higher, not to mention 2,5m he plans on creating...

Fri, 07/31/2009 - 14:59 | 20947 Anonymous
Anonymous's picture

jobs*

Fri, 07/31/2009 - 15:46 | 21070 Anonymous
Anonymous's picture

Gold and silver's last hurrah well below previous highs.
Too many bulls and big trader shorts.
Black market currency expert Franz Pick knew devaluations come in Fall, not now.
Look for raging dollar strength on short covering as Mr Market takes a cold plunge...

http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID3251493

JubileeProsperity.com

Fri, 07/31/2009 - 15:48 | 21073 i.knoknot
i.knoknot's picture

this whole thing feels so much like what those few survivors felt like on the deck of the titanic...

ug

Fri, 07/31/2009 - 16:09 | 21124 LuisvonAhn
LuisvonAhn's picture

When Americans stop spending $ 37 billion a year on movie tickets, $ 93 billion on legal gambling, $ 16 billion for professional sports teams, then we will have a problem. Americans have the greatest standard of living the world has ever seen. There is no stopping progress, if you are worried buy yourself a hand gun and invest in a good fireproof safe. Doomsday scenarios are for punters. The only thing gold is good for is around my gal.

Why do we have $11 trillion +- in outstanding public debt and why do others still buy it? Visit Mexico, Colombia, Brazil, China, Vietnam, India, Turkey, Russia, Italy(Sicily), Morocco, on and on. Go two hours outside any of their capitals and try to drink the water there, use a pay phone, visit a jail.

Fri, 07/31/2009 - 16:25 | 21159 I need more cowbell
I need more cowbell's picture

Rome, Greece, Britain; they were all the shit once too.

That spending you mentioned/ Come back in a year and compare numbers.

Fri, 07/31/2009 - 16:39 | 21190 LuisvonAhn
LuisvonAhn's picture

It's a bet. See ya on 7/31/10.

Read Democracy in America  "American democracy was seen to have its potential downside: the despotism of public opinion, the tyranny of majority, conformity for the purpose of seeking material security, the absence of intellectual freedom which he saw to degrade administration and bring statesmanship, learning, and literature to the level of the lowest. Democracy in America predicted the violence of party spirit and the judgment of the wise subordinated to the prejudices of the ignorant "

Sun, 08/02/2009 - 15:34 | 22423 Rusty_Shackleford
Rusty_Shackleford's picture

Bingo, Mein Freund.

Most people have no real appreciation or understanding of history.

 

"As it will be in the future, it was at the birth of Man—
There are only four things certain since Social Progress began:—
That the Dog returns to his Vomit and the Sow returns to her Mire,
And the burnt Fool's bandaged finger goes wabbling back to the Fire;

And that after this is accomplished, and the brave new world begins
When all men are paid for existing and no man must pay for his sins,
As surely as Water will wet us, as surely as Fire will burn,
The Gods of the Copybook Headings with terror and slaughter return!"

From The Gods of the Copybook Headings

by Rudyard Kipling

 

Fri, 07/31/2009 - 17:33 | 21266 Rhea
Rhea's picture

Gota be kidding babe   >: )

 

 

Fri, 07/31/2009 - 16:22 | 21151 Expected Returns
Expected Returns's picture

Too many people were bearish on gold. The deflationists will be silenced once gold moves above $1000 for good.

Fri, 07/31/2009 - 17:41 | 21279 jwacpa
jwacpa's picture

After three months on ZH I'm final starting to understand some of this.  And I've gotten addicted.  What a marvelous place.

Fri, 07/31/2009 - 19:41 | 21437 Anonymous
Anonymous's picture

So as the banks are collapsing you are going to store your wealth....in US paper? No way. The banks will be seen as very unreliable. Hence, you have to go with gold. What else? Some euros, cash hoarding.

Fri, 07/31/2009 - 20:05 | 21458 LuisvonAhn
LuisvonAhn's picture

Good point, never looked at it that way. I guess we'll never be able to use a bank again. Who, in their right mind would believe in the fractional reserve banking system. Need to stock up on all sorts of commodity monies; metals, wampum, seashells, bags of barley, peppercorns, oh don't forget a shovel, grain silo, leather satchel ( my wallet will never fit all those beads).

Fri, 07/31/2009 - 19:43 | 21440 Anonymous
Anonymous's picture

Oil is up because the word is out: the US is planning iminent bombing of Iran. THE Air Force is currently engaged in a massive build-up in terms of manpower and hardware.

Fri, 07/31/2009 - 23:51 | 21642 ClassyLassy
ClassyLassy's picture

Occam's Razor:  FASB did it....FINALLY!

Sat, 08/01/2009 - 17:32 | 21971 Anonymous
Anonymous's picture

like most americans, you folks are all paranoid, driven (and controlled) by fears, and ignorant of anything that happens outside your borders. get real.

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