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WOPR just blew a vacuum tube from all the VWAP-associated petting.
Even the gold desk needs to show a good month now and again. </sarc>
AIG Is Still Working It's Ponzi Scheme
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.
Today's chart looks like a happy little tree ....
Sweet - Bob was a classic.
Golden shower. LOL, Ben "making it rain" in the gold market. Get out the umbrellas - inless you are into that shit
Do NOT Ben Dover! Keep dancing. If I see one more Ben Dover before the song is over...
short the stock market. let the plunge begin!
Got foreign-denominated leverage? Canadian mining WARRANTS.
Silver making a huge move too. How much longer does the dollar really have?
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.
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.
I did not realize I was not logged in. This is Arm
Hey Arm, looks like tranquility base has been overrun...
The dollar is taking a beating
What the heck is WOPR?
An offshoot of HAL9000 and Skynet. We estimate that in the next 300 days, it will become self-aware.
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.
ah yes, the old dial up days. my my...
I take it you didn't grow up in the 80's. It's that computer from the movie "WarGames":
From the movie Wargames
rates way down and dollar way down. my Tandy-100 is having trouble figuring this one out.
gold is a scam
Without the rule of law, a promise is the scam.
versus what? the stock market?
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....
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.
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.
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.
Well how convenient. We always need enemies to fight don't we?
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?
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.
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? :)
Leave Curby alone. Curby is cool. Not sure I agree with Curb, but no GS there.
Thanks. GOLDMAN MUST GO TO ZERO before the economy can turn around!!!!
When Lloyd Blankfein is rooming with Madoff, Consumer confidence will return. And not until
JUSTICE....where is it?
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.
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.
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.
What triggered the dollar's fall? Did Geithner say something stupid again?
Why are treasuries so strong if the dollar is weak and gold is rallying, all very odd.
Gross interventions, first over here, then over there, then all at once. Markets are broken. Unstable, gyrating, shaking, rattling and coughing up blood.
People buying treasuries, gold, and selling the dollar. What has made them so nervy ahead of the weekend?
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.
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.
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.
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.
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.
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.
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.
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.
Is Gold Getting Ready to Attack $1000?
Any idea who is bearraiding the DXY today? I have heard rumors of Treasury buying using currency swaps-which is dumping dollars/repatriation scam
the usual, yeah
anyone got any commentary on gold technicals?
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
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...
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...
this whole thing feels so much like what those few survivors felt like on the deck of the titanic...
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.
Rome, Greece, Britain; they were all the shit once too.
That spending you mentioned/ Come back in a year and compare numbers.
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 "
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 beginsWhen 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
Gota be kidding babe >: )
Too many people were bearish on gold. The deflationists will be silenced once gold moves above $1000 for good.
After three months on ZH I'm final starting to understand some of this. And I've gotten addicted. What a marvelous place.
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.
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).
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.
Occam's Razor: FASB did it....FINALLY!
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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