New Record Nominal Gold Highs in USD, GBP and EUR

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Wed, 07/13/2011 - 07:56 | 1451006 SheepDog-One
SheepDog-One's picture

Credit rating hit already priced into mark-to-full-retard 100 P/E stocks. Party on, no end to the new economic system of print as you go.

<sarc off>

Wed, 07/13/2011 - 08:26 | 1451116 66Sexy
66Sexy's picture

Senate Republican leader Mitch McConnell is just proof Dem's and Repub's are both batting for the same team.


Wed, 07/13/2011 - 07:49 | 1451008 AUD
AUD's picture

I think reaching 1000 in Pounds Sterling will be a day to remember. The Old Lady might just be losing her grip, after only what, about 400 years?

Wed, 07/13/2011 - 07:47 | 1451009 Long-John-Silver
Long-John-Silver's picture

This was seen in Argentina in 2001.

Welcome to global fiat currency meltdown Bitchez!

Wed, 07/13/2011 - 07:48 | 1451013 TooBearish
TooBearish's picture

Sell - BLythe gunna hammer it for Ben


Wed, 07/13/2011 - 07:55 | 1451035 SheepDog-One
SheepDog-One's picture

Thats the awesome part...doesnt matter HOW much they try to 'hammer it', in the end, they lose, 100% guaranteed. You cant print endless fiat, and also suppress PM's. Reality is about to appear like a tsunami, prepare for it.

Wed, 07/13/2011 - 10:05 | 1451411 Bastiat
Bastiat's picture

Yep. Confidence in the USD eroding.   Lots of money running to gold from Euro these days too.  No one can stop an international demand surge--this isn't some levered up hedge-toad driven action.

Wed, 07/13/2011 - 07:48 | 1451015 Zero Govt
Zero Govt's picture

someone get a message to Benny: "Duck"

Wed, 07/13/2011 - 07:53 | 1451029 SheepDog-One
SheepDog-One's picture

'Dagong likely to downgrade US credit rating EVEN IF debt ceiling is raised'. Huh? That kind of logic could only come from the mind of a western maniacal monetizer.

Wed, 07/13/2011 - 07:58 | 1451043 SheepDog-One
SheepDog-One's picture

'Debt cuts most severe since WW2' yea thats because WW3 is here.

Wed, 07/13/2011 - 08:00 | 1451046 bigwavedave
bigwavedave's picture

just watch them engineer another blow off top like they did in silver. bitchez

Wed, 07/13/2011 - 08:02 | 1451057 SheepDog-One
SheepDog-One's picture

Fine with me, let them keep monetizing and holding down PM's, thats a retard battle guaranteed to lose. I'm patient, and called their game long ago at $400 so they cant ever hurt me.

Wed, 07/13/2011 - 08:09 | 1451078 bigwavedave
bigwavedave's picture

just sayin'. for the record im long land and ag production on the paradise island of bali. Care to join me?

Wed, 07/13/2011 - 08:15 | 1451095 AUD
AUD's picture

Where you there in 1997-98?

Wed, 07/13/2011 - 10:07 | 1451422 Bastiat
Bastiat's picture

Same page here, SheepDog

Wed, 07/13/2011 - 10:24 | 1451513 DoChenRollingBearing
DoChenRollingBearing's picture

I´m running around the same field as you guys, SheepDog and Bastait, although my average cost basis is perhaps $1100 - $1200, only because I bought so much more at over $1000 and up than all those years where I bought smaller amounts at $300 - $500.

I still will be adding more as more fiats roll in. 

¨It´s all about the ounces!¨


So, today is a nice day to have an extra smile...  So have a great day, friends of gold!

Wed, 07/13/2011 - 10:58 | 1451722 Bastiat
Bastiat's picture

There will be a ruckus around 1500 as usual with round numbers but the war is won.

Wed, 07/13/2011 - 08:04 | 1451062 youngman
youngman's picture

EVEN should be ..BECAUSE OF...

Wed, 07/13/2011 - 08:04 | 1451063 Sudden Debt
Sudden Debt's picture

I've been called a fool many times for holding so much money in PM's.


Oh boy... do I feel stupid right now :)

Next update => 2012


Wed, 07/13/2011 - 08:27 | 1451120 doggings
doggings's picture

100% all in since early 2009. in 2008 I said to one such doubter

"I would bet everything I own, that this is what's going to happen"

4 months later I did exactly that.

Wed, 07/13/2011 - 09:04 | 1451240 hamurobby
hamurobby's picture

But seriously, I mean damn, who could have possibly seen this coming? I mean deflation and all, wow.

SARCASM. (and laughing hysterically)

Wed, 07/13/2011 - 10:20 | 1451494 DosZap
DosZap's picture

Do you have a weapon?, all those that told you that will be after your ass .............soon.

Wed, 07/13/2011 - 10:51 | 1451530 DoChenRollingBearing
DoChenRollingBearing's picture

Doh!  Stupid Bearing for buying some much gold, platinum and silver!  I should have listened to, well never mind!

Such great minds telling the dummy Bearing to be careful wasting his money on gold.

When will I ever learn from my superiors...? 

Oh wait, I am in the Tinfoil Hat Brigade now!  New Superiors!

Wed, 07/13/2011 - 08:07 | 1451077 MsCreant
MsCreant's picture

It's not fresh, nor for most here even informative, but it must be said and the rest of you have been remiss:

Gold Bitchez!

Wed, 07/13/2011 - 09:00 | 1451229 gmrpeabody
gmrpeabody's picture

Et tu..., MsCreant?

Wed, 07/13/2011 - 10:55 | 1451673 DoChenRollingBearing
DoChenRollingBearing's picture

It also seems remiss we have no gold trolls to tell us what a bubble we are in, how much they ¨care¨for us, how dumb we are, etc.

Wed, 07/13/2011 - 08:21 | 1451105 falak pema
falak pema's picture

gold stitches, gold britches, gold ditches; but honey bitches is my favorite.

Wed, 07/13/2011 - 08:29 | 1451134 mickeyman
mickeyman's picture


Wed, 07/13/2011 - 08:43 | 1451172 TaxSlave
TaxSlave's picture

So, gold is on a rip, my wage-slave debt-chits buy less of it per hour.

I'm buying silver with them, then, because it's on sale compared to gold. For savings, not investment.

Not in the bank, not in depreciating debt-chit coupons.  Let gold zoom, cheer it on.  Hopefully it'll pull my paltry little pile of silver along behind it. 

Wed, 07/13/2011 - 09:00 | 1451230 Clay Hill
Clay Hill's picture


It's working, $37.09  @  8:58  a.m.

Oh hell, its rising faster than I can type, is that a good thing?

Wed, 07/13/2011 - 09:18 | 1451277 caerus
caerus's picture

Silver up 28% in April wasn't good.  After the May Beat Down I think we got some breathing room.

Wed, 07/13/2011 - 09:25 | 1451302 Clay Hill
Clay Hill's picture


Glad to see folks able to make a buck when they can, caerus, no jealousy here. I just hope most of my fellow ZH'ers are able to get out of the Ponzi with their skins intact.

I will.

Wed, 07/13/2011 - 08:50 | 1451205 lolmao500
lolmao500's picture

Silver... please go to 75$!

Wed, 07/13/2011 - 08:58 | 1451219 UgglyBetty
UgglyBetty's picture

Actually, public sector wages, pensions etc. were paid in Argentina 2001 in... guess what? Bonds, issued by the different provinces that the country is comprised of. So what happened was that those papers were not convertible to local currency nor of course to dollars, which is what they wanted to avoid, a run to the dollar. Just wanted to point out this non-conversion thing as I guess it's a possibility to be reused now on a more general basis, I still cannot figure out how but surely they will find the way, ideas are always reused.

Wed, 07/13/2011 - 08:59 | 1451225 SWRichmond
SWRichmond's picture

FWIW: I find the author's writing style, each line a paragraph, to be remarkably distracting and silly.  Is each thing the author has to say so significant that it requires the dramatic stand-alone paragraph?

Wed, 07/13/2011 - 09:05 | 1451244 High Plains Drifter
High Plains Drifter's picture

cramer is saying there are many countries buying gold now.  are they taking delivery of product?  

Wed, 07/13/2011 - 09:37 | 1451328 william shatner
william shatner's picture

Silver is poor man's gold,  gold is bought by rich people and central banks. I wonder which one will be the best? Could poor people be right for once, hmmm?

Wed, 07/13/2011 - 09:55 | 1451377 TaxSlave
TaxSlave's picture

Even some combination of copper or nickel, or cigarettes, whiskey, ammo, guns, propane, water filters or any other damned thing make a viable savings plan.

They will always have some useful value to somebody if not yourself.

They can't be electronically erased.

Even if other things get more expensive relative to them, their trading value will likely never go to zero.

The more compact and easier to hide they are, the more difficult it is for anyone to steal them.


Wed, 07/13/2011 - 10:30 | 1451543 DoChenRollingBearing
DoChenRollingBearing's picture


The more of the above you get, you will eventually have to change your name: NonTaxable!

Wed, 07/13/2011 - 10:30 | 1451544 mayhem_korner
mayhem_korner's picture

They can't be electronically erased.

Bingo!  Nor electronically confiscated, allocated, taxed or anything else.  Someone would need to dance with Mr. Remington to get near them...

Wed, 07/13/2011 - 10:51 | 1451628 DoChenRollingBearing
DoChenRollingBearing's picture

The Bearing is pleased to note that silver rocketed even more so far today than gold.

A silver expert should write something for me at my lil ol blog...

Bravo guys bullish on silver!

Wed, 07/13/2011 - 10:58 | 1451733 Bastiat
Bastiat's picture

Silver shorts runnning down the street with smoke and flames out of the seat of their pants.

Wed, 07/13/2011 - 11:16 | 1451872 lawrence1
lawrence1's picture

Glad some are paying to attention to silver too!  Eric Sprott mentioned in a recent interview that his clients are currently buying much more gold than silver since the big takedown, whereas silver sale predominated before. I guess the big boys got what they wanted, to scare people from silver for a while.  But Sprott still believes silver will substantially outperform gold.

I will continue to have more silver than gold until there is a clear indication of a reversal. The last few days have silver gaining substantially more than gold, although gold is in the spotlight.  Either there is a real shortage or silver, or there is not.  My reading tells me there is.  I respect fofoa but Ill go with Sprott on this one.  Fofoa argue so well that he could probably persuade a whore to return his money.  Fofoas talk of "giants" and dismissive attitude to manipulation given me some pause for thought.  Yes, its the "ounces" but silver is money too, the name for money also means silver in many languages, China accumulating silver too, Mexico planning to remonitize silver .... etc etc etc. 


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