New Record Nominal Gold Highs in USD, GBP and EUR

Tyler Durden's picture

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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>

66Sexy's picture

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

 

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?

Long-John-Silver's picture

This was seen in Argentina in 2001.

Welcome to global fiat currency meltdown Bitchez!

TooBearish's picture

Sell - BLythe gunna hammer it for Ben

 

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.

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.

Zero Govt's picture

someone get a message to Benny: "Duck"

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.

SheepDog-One's picture

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

bigwavedave's picture

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

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.

bigwavedave's picture

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

AUD's picture

Where you there in 1997-98?

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!¨

- FOFOA

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

Bastiat's picture

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

youngman's picture

EVEN IF.......it should be ..BECAUSE OF...

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

  

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.

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)

DosZap's picture

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

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!

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!

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.

falak pema's picture

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

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. 

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?

caerus's picture

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

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.

lolmao500's picture

Silver... please go to 75$!

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.

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?

High Plains Drifter's picture

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

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?

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.

 

DoChenRollingBearing's picture

+++

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

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...

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!

Bastiat's picture

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

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.