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The New New Normal? Futures Take Out 1,150, Carry Crumbles, Gold On Verge Of $1,200
Was this it for the bear market rally? The new new normal, same as the old normal: Risk and Carry off, Gold on...Meanwhile, the panic over at the Eccles building can be felt all the way in Europe.
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Well. These Keynesian clowns have REALLY done it now...
At this point calling the financial terrorists and corrupt government officials, Keynesians is a misnomer. What these clowns are is criminals and fraudsters of the highest usurious order.
Cmon you Precterite / Denninger "Gold going to $500...we're in a deflationary panic" Where arrrrreee yooouuu? The S+P/Gold spread just swung 98 points in a day... As you can see... when stocks go down... Gold goes right down with it eh? PWNED!
fiat collapse coming sooner rather than later
UK election effect due to massive uncertainty. Check cable to see.
UK online brokers open all night for drunken gambling - FX, gilts, FTSE. Buy gamma...
When this is all over and we have audited and closed the Fed we need to leave the building standing as a monument to the stupidity of central planning, with one of those bronze historic information plaques out front.
Anyone care to offer text?
The map is not the territory, but gold is money.
Just use the chart in this post.
I heard talking heads on CNBC use "gold" and "reserve currency" in the same sentence twice today. How dare they turn on their masters.
Declare it an epa superfund toxic waste dump and cordone it off.
yes, how bout -
"Death cometh to all bankers"....
Churchill... famous 1940 Battle of Britain speech slightly revised should do the trick! (I'm a firm believer in recycling you know...)
"Never in the field of human conflict was so much owed by so few to so many"...
Do I win?
Appropriately twisted
you have it backwards.
I said 'early' prototype Buzzy!
"The rich rules over the poor, And the borrower becomes the lender's slave."
Proverbs 22:7
"Until shit happens and they don't"
Washroom 7:11
+1000 WW!
Site of the biggest failed experiment attempting to disprove the basic laws of science.
That's easy: "There's no such thing as a free lunch."
TANSTAAFL - There Ain't No Such Thing As A Free Lunch.
Spendthrift policy makers who intentionally debase currencies and blow bubbles
Destroy the wealth and social fabric of nations and bring calamitous Troubles
"On a long enough timeline, the survival rate for any central bank drops to zero."
"They called us 'central planners', but we couldn't centrally plan shit. We didn't set interest rates and we didn't determine the money supply. The only thing we could do was treat our private bank shareholders with trillions in taxpayer money after they blew up the economy."
"There's always a bull market somewhere"
Yeah, speaking of that a$$ clown, I can't wait to see him wiggle his way out of "go long the banks" call. I hope, in the pit of his stomach, he begins to see the beginning of the end for him and his ultra-elite big money/government crew. (aka The Squid) The cards are being reshuffled boys and there is nothing you can do to stop it this time.
"There is no means of avoiding a final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion or later as a final and total catastrophe of the currency system involved."
- Ludwig von Mises
Federal Reverse.
I like this New Normal.
me too. love the name btw.
Euro to Par and goes away, Pound to $1.20, Gold to $1,500
You can pay me in old gold coins,
Markets up & gold up. The central banks boogeyman that they hoped would never come out of the closet just started sneaking out.
You mean markets DOWN and gold up, eh?
Yeah the carry trade brainwash even has me mixed up at this point.
1147 has held,party on..........
Bye, Bye...
The only two things you can own are the dollar and gold. Best house on a crap block but still the only currency you can own.
You don't own dollars -- you only hold them. ("Federal Reserve Note" is printed right on them in case you need a reminder!)
Actually our dollars are debt. They own us.
All our "stuff" owns us...
I keep trying to tell my wife that. Instead of saying "Steve, you are so right, thank you for liberating me" I get the "Well, just because you don't need shit to get by, it doesn't mean we are all like that. You know, some people just like to have nice things, to look good, to drive a nice car".
And I say "Thank you for proving my point. I'm going to meditate now".
Haha!
Fuck ownership and accumulation. Its what got us into this mess.
It all went downhill when some fucking caveman put a stick into the Earth and said " This is mine" and clobbered the next guy over the head just so he could enjoy a false sense of freedom that he gained while supposing that owning means to be free. We all live on borrowed time, which in itself is not even a flicker on the long line of eternity.
Mathematically speaking, we don't exist...I proved that in a real analysis class..
Know why cavemen drag cavewomen by the hair?
Yeah, i once proved absolute existence of God via refining Godels modal ontological argument which had some flaws with its sub-constructive modes. Its futile , but it was good fun.
And no, why do cavemen drag cavewomen by the hair.
So they don't fill up with sand!
"The unreal is more powerful than the real. Because nothing is as perfect as you can imagine it. Because its only intangible ideas, concepts, beliefs, fantasies that last. Stone crumbles. Wood rots. People, well, they die. But things as fragile as a thought, a dream, a legend, they can go on and on. If you can change the way people think. The way they see themselves. The way they see the world. You can change the way people live their lives. That's the only lasting thing you can create."
— Chuck Palahniuk (Choke)
"The things you own end up owning you."
— Chuck Palahniuk
I thought "You don't own stuff, your stuff owns you", was from Fight Club?
It is, but Chuck wrote the book Fight Club which was the basis for the movie. Its his quote.
If memory serves, I believe I read that in Walden...Thoreau
aaaah, understood.
Those 8 words condense today's situation eloquently.
Maybe some day they will be sewn into a flag.
Nice one Cheeky!
oh, cheeky i just fell in love º º
†
……
it's also the basis behind the power of symbolism
I know. I find myself saying in my head, "Boy, I'm sure glad I can get stuff like food and beer for these stupid green things".
Oh yeah, I almost forgot GOLD - BITCHES!
- yeah, you better get while the getting is good.
Gold rallying as Euro falls.
Imagine what Gold would do if the USD fell!
Too bad the dollar is increasing in value faster than gold against the euro. I'm glad I'm holding dollars.
USD can Fall even faster thanit went up. Buyer beware applies.
dollars to gold ... ther folks all over converting their local currencies for dollars to buy gold .
the dollar looks strong . to the dopes that can not see. longer than the nose on face
I wonder how many people around the world are selling physical gold for dollars?
....
Ah, you wish to see the future?
the nose on the face . extends for one day future lol
the paper bugs are looking in egg timer time
Let's see if the Embry 2% Rule is still enforceable...
Yawn, wake me at Dow 5,000/Gold 5,000
I had a dip for you to buy but he got away (again).....
There's a dip right now, if you're expecting Dow 5K & Gold 5K...
Step right up...buy the amazing inert lump of ore that beats the pants off of corporate debt and common equity shares worldwide! It's the incredible piece of shiny metal! Only $1200 per ounce, folks! Step right up!
And silver isn't following gold at this point. Buy silver now if you have faith.
Silver does not follow gold. Silver tracks oil.
Until the 95% of people who have no clue of whats going on finally realize they need to start buying something that holds its value... and Gold will be way to expensive for them. You know the drill, right?
The rubber band is being stretched right now (gold/silver ratio), but it will snap back.
EXACTLY
Sprott loves silver almost more than he loves gold right now.
A gold/silver ratio in the high 60s is completely unsustainable. Silver will decouple from oil soon enough.
Hey sorry I'm a bit slow, but when everybody devalues their currency on the same Sunday afternoon, I'm supposed to be in gold with my credit cards totally maxed out in my new Vegas condo gotten with as little down as possible.
Right?
Change your location and you are better off. Why would you want to be in the middle of the desert when the SHTF?
+1
Reading his post I was thinking of that game: Which one does not belong?
Not only that, but in the middle of the desert with a bunch of angry gamblers and out-of-work casino workers.
Well I would hate to be policeman in Athens right now. The odds don't look good for them.
They'll be striking soon, too, as their benefits are getting cut just like the protesters.
The police are there to protect the top feeders from the bottom dwellers once the bottom dwellers can't supply the top with what they need to cycle back to themselves.
The can protest and kill and do whatever, there is nothing anyone can do in that government. Eventually the whole world will look like that.
Actually so far they look pretty peaceful. Unfortunately it's not going to stay like that medium or long term.
I bet they get cut less. Anyone know? If you cut them too much, you're gonna need Blackwater. That's more pricey
Soldiers were awarded higher salaries before any other civil "serf"ants when inflation took hold in Zimbabwe. - http://www.thedailynewszw.com/?p=28311
I would assume the Greek government wil be no different in their economic crisis and will make sure that the "just doing their job" soldiers and police will continue to do their job of protecting their masters.
I think you should reframe: "The equation does not look good for them". But you are 100% right.
Prices of 1 troy ounce gold coins have just hit 1000EUR in Europe.
1034€ to be exact... damn...
http://www.koopgoud.nl/ounce-american-buffalo-p-218.html?osCsid=me0ebjtrft0nt6ugm93v49tmk0
I check http://www.gold4ex.be
This firm is the biggest physical gold dealer in Belgium.
Tomorrow, Friday, will be a massive selloff!
Nobody will go into the weekend with all this crap happing at the same time
I beg to differ, I say NO ONE in their right mind takes it off the table, esp since it's the weekend like none we have ever seen.( unless your talking stocks).
No telling where it will be come Monday, damn sure not better.
Their fighting like hell to keep it under $1,200.00..........
Be sure to watch gold price 1800 eastern on Sunday when asian markets open.
The Shanghai Split
Went Global
It will continue
Forever.......
One night in Bangkok and the world's your oyster...
I would have to agree on a continued sell-off in the overall equity markets, at least until Tuesday or Wednesday. Votes for the "Financial Regulation" bill in the Senate looks like they will not take place until Tuesday or Wednesday of next week. Senator Sanders, DeMint, and others are trying to get the Audit the Fed provision in the bill, so expect for a "shake in your boots little people" sell off to send a strong message to anyone who dares stand up to the rigged-market-capitalistic juggernaut. Fear is the greatest weapon of all.
If the PTB decides to take down gold and puts their weight behind it can they do it?
edit... yep
Perhaps, but not through trickery. They would have to raise interest rates to 20+% and default on debt (giving a haircut to creditors).
The only thing that can genuinely stop gold at this point is a return to long absent good fiscal policy.
Of course, that will never happen.
Da Boyz better call the IMF and request another emergency paper dump.
http://www.gata.org/node/8601
Wait till all these folks show up at the pickup window to take physical delivery of there bullion...
+1
Harry Wanger, where are you? I need some advice on what to buy on this dip.
LOL!
Good one.
Harry is eating crow for lunch and black swan for dinner. Washed down with a giant glass of mea culpa.
I generally like people who are optimistic, but not those that are foolish. Seriously -- who couldn't read these tea leaves? To suggest this is all going to "blow over" is ludacris. Our ONLY hope is to limit the severity of the pain from this point.
He's also unhappily on the other side of my AAPL bet. Poor, poor Johnny Bravo. LOL
I noticed a scarcity of Harry Bates, or is that Master Wanger. Since MB got a new moniker we might keep an eye out for HW to log-in under a new cognomen.
yipcarl is yapping down lower. It's either personal issues or paid trolling with these guys.
Sometimes this feels like the Bates/Wanker/Yipper whack a mole show!
What wonderous topic could Tyler(s) post to attract all three of these misanthropes?
That would be a laugh riot!
Thanks for the laugh!
I can just picture their tiny heads popping up to say "But don't forget the census effect in the jobs report on Friday." or "Apple is just reloaded for another rocket shot."
snort snicker hahahaha
HarryWanger....RIP, along with the markets!
Don't think so, at the first of a rally he will be here again sharing sapience...
Doin' the Wango Tango no doubt:
http://www.youtube.com/watch?v=LqFUEcM9wR0
You haven't been paying attention Al...
AAPL 251.15 -5.26 -1.99%
The man with the teeth is all in.
http://www.aftonbladet.se/webbtv/nyheter/utrikes/article7086788.ab
greek riot (potential) video / live feed
awesome, ty!
Wow. Imagine live feeds during the storming of the Bastille!
They could just go ape and burn that sombitch down.
This is the SAME feed next to Carl Quentinilla reporting from Greece on CNBC at this moment!
What building is that to the left of the picture? It looks like one of those Hollywood wooden facades. Reminds me of the town in Blazing Saddles.
Oh, that's the Potemkin Village view.
i think its greek parliament building
I love Greeks. They are my new favorite people! America, and the rest of Europe for that matter, take note.
Wow...is that really a live feed?
That dog seems to be leading the protest... lol
haha, yeah he's not going to be too happy if he catches one of those flash-bangs before it goes off.
whoa...shit, now some stuff is happening.
They're breaking stuff now.
OH SNAP!! I HOPE EVERYONE IS WATCHING THIS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Where's Nic Lenoire????
He may want to rethink that "gold is not the answer" statement of a couple of days ago.
The gold holders in Europe didn't fair too well last time. A lot of them were put in ovens. Even the ones that hide it in their teeth didn't fair too well. There is no safe haven.
Over time you will get less and less because less and less will be produced. Until that time huge spikes in both directions. The US was able to avoid complete collapse last time at the expense of a complete destruction of Europe and large portions of Asia. This time it will be everywhere.
Brilliant Mako!!! We can't run away from the equation, sell gold and go long gas chambers and oversized ovens. Got it.
You are so offside on your gold call, it's beginning to show.
P.S. I do agree with you however that we can't run away from the equation, it's just that I don't want to hear it every thread.
Now you are just putting words in my mouth.
Never said to sell your gold, but when this goes down this time it's not going to get you rich and it's ain't going to stop the tanks and you can't eat it.
It's not the solution you make it out to be, I certainly could not blame someone for holding on to some but no it will probably not save you either.
To be honest, I am just waiting on the Greeks to throw some bankers out the window... it doesn't change anything but it might be entertaining. Someone is going to have to go.
So far the Greeks are putting in a poor showing, looks more like a soccer match instead of a riot.
Just pulling your leg there, Mako. I know this is not what you meant.
Truthfully, I do enjoy your posts, and you have my gratitude for getting me to think in ways I wouldn't otherwise consider.
Many thanks, and keep posting.
I appreciate your posts as well. Just remember, this ain't going to be pretty and it doesn't matter what you have. It's going to suck, keep your head down is really the only answer which is really not an answer at all.
Fact
Right now people keep looking for investments. You shouldn't be looking for investments in a time like this. And gold is not an investment. It's a store of value.
In 1913 when the Federal Reserve came into existence, I could buy one of the finest pistols on the shelf with a $20 gold piece or $20 in paper money. Or using the same payment I could buy a very fine suit.
Today, for one ounce of gold I can still buy one of the finest pistols on the shelf or a very fine suit. But for $20 in cash I can't even buy the cufflinks or a full box of ammo.
If you invest in gold, you deserve whatever you get. But if you use gold as a place to hold value while one economic system collapses and until a new one gets established, you stand a reasonable chance of moving a large part of your wealth through that collapse intact.
My advice to friends is never invest in gold. Given that this is a possible social collapse facing us, I tell people to make sure they have the proverbial "guns, grain, and gear" all taken care of first. Then and only then do you add the 4th G - gold - to your personal preparations, purely as a vehicle for moving wealth from here to some future point relatively intact.
Thanks Grayzone -- I tell my friends and they ignore me. Sigh.
<<makes list of things you cant eat>>
gold
tanks
ovens
<<things you can eat>>
greek bankers
Your broad generalizations don't hold water, even though I tend toward a mildly dystopian view myself. With respect to the European gold holders, what about the Swiss? They faired quite well -- a little too well, of course, as they never had to repatriate some of the gold that was deposited by the victims to which you refer.
He just popped an anti depressant pill while waiting at crimex's pantry
So simple its stupid.
DEFLATION. For 20-30 years at least ...
In deflation, hold money (real money) and short everything else.
GOLD will maintain its purchasing power. Everything else gets flushed.
Looks like the Black Holers were right about Hadron. Now watch as everything gets pulled into the singularity.
I'm not Harry, but I remain cautiously optimistic. The support at 1147'ish held, as expected. I think we can rally back up to 1170 near the 50sma where it will be resistance. I bought some GOOG today (right before it popped $6, luckily).
Non-Farm Payrolls are out in the morning, and I expect it to be a rather good number with the addition of the Census jobs. Interpolating the ADP numbers, we could see a +250k number, which will be incredible headlines to trumpet into the weekend for the bulls.
I remain underwater on my main SPY position, but I will hold further. I'm also looking at buying some Morgan Stanley (MS) if it gets to around $27. Major support right there.
Also, AAPL is very juicy at $247'ish.
support held at 1147ish....this time.
We can;t take out every level of support in one day.
give it time, as that support turns into resisitence!
My concern is that if we have enough foreign banks and entities about to go tits up, we may be on the receiving end of ring fencing, which will mean selling by [some] foreigners of US assets. Get enough selling, and even the PPT may not be able to right the ship, if it triggers cascading and self-reinforcing margin calls. I think that during the 2008 debacle, a lot of foreign markets got a double whammy - derisking and ring fencing by US insolvent entities. We're going to be on the receiving end this time.
I thought you and Harry said AAPL was a "can't miss" at $260. Is it "more can't miss" at $247? If it falls to $200 would it be "mega can't miss"?
No offense Cyan, but I think you are out of your mind to be touching AAPL at these levels. It's begging for a vicious correction here. The new trend is down for this beast...you'll never see over 272 again.
What's that about 1147 again? Hello 1145 and still dropping!
question: where is harry?
answer: trying to meet his margin requirements
I at least had some respect for him when I "thought" he was a trader, but when I went though his post of a few years ago... it became apparent he was all in long and had been since 14,000.
The guy lost all credibility as far as I'm concerned. I don't mind listening and considering a dissenting point of view (eg. Leo's solars) as long as those putting forth those arguments don't disappear without a trace as soon as the market goes the other way.
I'm sure Harry will be posting again the first day we close green again.
answer: trying to meet his margin requirements
LMAO!
I'll go out on a limb and say either from noon today (Thur) or tomorrow for sure, we'll see at least a 1-day gain for the Dow. Perhaps a slide slightly further. Double bottom. And then the rally will resume.
Several 'reasons' to justify a rally. A perceived resolution to the drama involving GS as well as Greece being 2. Gulf oil spill being capped would be another. Jobs report at 8:30AM on FRI. AIG earnings before the bell also.
Is is all B.S. ?? No doubt. But that's been the story for a year...
Today would be the best time for an up day. Selloff into the weekend to setup for the usual Monday meltup.
Dow -72 @ 12:30. It would take a heck of a stick save to make it to plus territory, but odder things have happened.
The street tickers are starting to look like the end of the new Star Trek movie
Get us out of here, Scotty.
You bet your ass, Captain.
(They go nowhere, start to sink into the black hole)
I said get us out of here, Scotty.
I'm giving her all she's got, Captain!
(They sink deeper)
All she's got isn't good enough, what else do you got?
----
All that's left is for acting Captain James Tiberius Bernanke to order the ejection of the warp core, shouting "Do it, do it, DO IT!"
Unfortunately for Europe, my guess is they are said warp core.
So, the U.S. (via GS antics in Greece) has worked to destroy the EURO, as a means to guarantee oil will be forever traded in a USD bourse? Was it all worth it?