Panic Buying Of Physical Gold In Europe Threatens Depletion Of Austrian Mint

Tyler Durden's picture

When global governments refuse to act responsibly toward their currency, the people will create their own currency. Welcome gold.



h/t Joel

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Hughe Crapper's picture

Sorry, My bad. I had a rational moment.

jaybaybaker's picture

In November, it was the end of the dollar, remember that? That was the time to go long the dollar. And then gold was a barbaric relic in February: time to go long gold.

So when the dollar was said to be at its end, Americans scrambled into gold. Now that the euro is said to be at its end, all European lemmings scramble into gold.

What's next? When everybody and their grandmother is loaded up with gold, the gold price will fall, and both, the euro and the dollar will appreciate.

Because we are in deflation, folks.

Time to go long the euro and short gold.

macroeconomist's picture

I replied to you in the previous thread, but it looks like you seem to be posting the same thing under every thread, which makes me conclude you are ultra-short gold..Bad choice..I recommend you cover them immediately before you lose more..

BobWatNorCal's picture

Dang, there was a long thread a month (?) ago with recommendations

on where to buy physical gold in the US. One firm was especially

recommended by many ZH commenters...what was it?

RobD's picture

Hey Bob, is NorCal short for norther California. If so hey neighbor, I'm in Nevada. APMEX is one that is recommended.

jaybaybaker's picture

Everybody piling into gold at the same time, after the move.

What can possibly go wrong?

I know you guys will laugh at me, just like I was laughed at when the dollar almost hit 70 in 2009, or gold almost went to 700 in 2008 and I went bullish.

Let's see in a few weeks, when gold has come down in a parabolic fashion.

chumbawamba's picture

Gold is money.  Gold is currency.  Too bad you haven't figured this out yet for yourself, that's on you.  But to try to scare other people away from the one and only safe haven for their wealth is a sin and a crime.  You will pay for your transgression, and by your own hand will the punishment be administered.

I am Chumbawamba.

dumpster's picture

chumba... right on these sleaze guts are trooling on the bottom ,, and to be so wrong and yet to try to  change whats real to an opinion with out merit ,,


scare people .make them unsure ,, only one word for them  spit

omi's picture

There's no point to try to point out that the view of the future of another person is wrong as you don't have the monopoly on the future. Talk about the way you placed your bets instead.


While I do think that gold will crash, I'm not playing gold as it's too volatile for me; instead, I'm playing gold miners. When they rally, they have a tendency to have shart drops. That's what I'm looking for.

SWRichmond's picture

Who's piling?  I'm holding on to what I have and not even considering letting go until reality seizes control.  When will that be?

demsco's picture

Ordinarily, I would agree that going counter trend makes sense, but not this time. Sure, there will be a pullback, so what? It appears that stocks are the only thing that go straight up anyhow. when it pulls back I will buy some more, but I buy some every month no matter what anyhow. However, I am way more bullish on silver. You also may have failed to put the whole DOJ JPM criminal investigation into account with the rise in price. Mix in political instability with currency debasement and you have THE case for gold, not as a trade, but as one of the core holdings to own, or silver.

Jim in MN's picture

I think Apmex got the most mentions...there are others...

schoolsout's picture

If you don't have much cash for gold/silver like myself, I love Bullion Direct.

Buy whatever you want, they hold it for you until you want it shipped and combine shipping.  You pay a premium, but it allows you to accumulate (if you trust them holding it for you, I've never had a problem)

jkruffin's picture

I use Bullion Direct as well,  never had any issues.  You can usually buy around .25-.75 above spot using Nucleo Exchange depending on the market.  Other places charge much higher over spot per bar/coin.  With them storing it for you too, it keeps it readily available to sell or have shipped.  Best place for accumulating smaller amounts at a time.

DeltaDawn's picture

Best source I have found: 


Problem Is's picture

"All the folks around Brownsville say she's crazy..."

Sorry, I couldn't resist...
And you better be the T.Tucker version or I will flag you... ; )

Janice's picture

In this article


butchee suggested and SilverIsKing suggested and


I use APMEX. www.

Never had an issue.

schoolsout's picture

Doesn't Tulving have a min. order amount?


I've used APMEX and BD


BD has Nucleo Exchange and if you aren't familiar with it, you should be.  Buyers/sellers (private) linked up with BD acting as intermediary.  Very trustworthy so far.

dark pools of soros's picture

i buy from - great items and nothing annoying about them.

BobWatNorCal's picture

thanks, all. I think Tulving was the one that caught my eye in the

previous thread, but I'll be checking out BD and APMEX too.

VegasBD's picture

I also buy from APMEX. Fast shipping, tons of large and small $ items, never had a problem.

Problem Is's picture

I have the same question as BobWat... but for silver...
Where is the best/ most reputable place to buy??

Are Silver Maple Leaf (Leaves...) the best or just silver 1 ounce bars?

Is purity for silver bars regulated at all by anyone? Or is it trust in the seller/refiner?

Thanks for humoring this novice from NorCal...
As opposed to SoCal... The line is generally considered the Tehachapis by the way... But when your state is TBTF... the lines are often murky...

jkruffin's picture

Silver bars/coins are regulated by law, so if it is stamped .999 it is.


Although American Eagle and Maple Leaf coins are pretty, and usually get a higher premium, when the SHTF, silver is silver, whether its bar or coin or a round mint, it will all spend the same and be worth the same.


Buying in different weights is the smart way to go.  1oz can be spent easier, but if you need to make a big purchase you might need a wheelbarrow to get them there.  10z and 100oz bars are good for that type of thing.

moneymishap's picture

I love comments like this.

We are not only short fiat idiocy, we are planning on how to transport all our metal when we buy a ranch after the fallout.

Problem Is's picture

Big Thanks for the tips jkruffin...

BGO's picture has a list of over 40 U.S. dealers that sell gold and silver bars and coins

Problem Is's picture

Thanks BGO. Info appreciated...

jkruffin's picture

He must be a JP Morgan employee trying to work the wrong crowd. He doesn't realize he is talking to educated people here and not the sheeple.  LOL

Just remember the only word you need to remember:  Hyperinflation

It is coming to many countries near you.  How do you survive it?

GOLD and SILVER all day, everyday.

jaybaybaker's picture

Funny how the lemmings are always so sure about themselves.

ratava's picture

said a self assured lemming

Caviar Emptor's picture

I love these guys...such easy meat for me. 

You say gold has "given back"? 

If you bought gold in 1999 you have QUADRUPled your money!

If you bought the NASDAQ in 1999 you lost HALF !

An EIGHT BAGGER!!!! of difference in performance. 

You can't call a secular bull run that has gone on for over a decade a flash in the pan. And if you combine it with the over 10 year secular bear market in equities, it all makes sense. That little runup in the dollar over the last 5 months IS A BLIP, a teenie weenie bikini when you lok at the chart going back to 1984 which shows the dollar index loosing half its value with an intact trend!!!

Gold is getting scarcer as we speak since anyone trying to protect wealth is in an aggressive buying mode of physical gold. This is long term buying, not end of the world speculating. All over the globe people are seeing for themselves how tenuous a grip they have on their wealth if it is denominated in fiat currency of ANY stripe.


JW n FL's picture

Here Kitco has all the charts you want to see... 30 day to ten year...

Here is the 30 year...

As for the 100% annual? who wasn't? making that? Twice it was blown out to over 3 years... stupid people should buy Gold who can not make money is your pitch then?

Can't find Gold, Physical? Scarcer? Running Out?


RUN!!!!! GODZILLA!!!!!! RUN!!!!!!!


Idiots... buying Gold at all time highs... ask the last idiots who did that how thier assholes feel?


Buy Low! Sell High! no magic...

Burnbright's picture

You are a freaking broken record. I love how idiots like you use the 30 year chart to just get the top of the old high in. Hey why not look at the price of gold over the last 100 years!

Didn't you also say gold was going back down to like 800 back in Jan?

What is your problem anyway. People recommend to buy gold to retain purchasing power, not as a trade. So get that fact through your head and stfu about trading, it isn't a trade to "make money" on, its a currency to store your wealth in.


JW n FL's picture
by Burnbright
on Wed, 05/12/2010 - 10:36

You are a freaking broken record. I love how idiots like you use the 30 year chart to just get the top of the old high in. Hey why not look at the price of gold over the last 100 years!

Didn't you also say gold was going back down to like 800 back in Jan?

What is your problem anyway. People recommend to buy gold to retain purchasing power, not as a trade. So get that fact through your head and stfu about trading, it isn't a trade to "make money" on, its a currency to store your wealth in.




                 You are a salesman... quoting me as saying that Gold was doing what in January?

Look bottom feeder, what I say I mean and what I mean I explain thru 3rd party verifiable information.

I don't stir up a hornets nest to make a sales, I don't live in a world where ego purchases and / or fear purchases make much sense...

So, dont quote me as saying something I did not say... its bad enough your an idiot but proving yourself to be a LIAR! is not in your own best interests.

I will say it again slowly... if you review the historical data available, anywhere... Gold looks to be nearing its all time highs again... and the last time people bought at the all time high, things did not go well return wise for them...

Now, I speak plain english... I speak the truth... here I will even site the truth for you again..

You, LIE! You, cannot use the truth as a backstop so You spin, cajole and or worse use fear to herd people into a purchase.. other than Lie that I said something that I never said and other than the fact that you refuse to even admit the truth about Gold getting closer to the top of the top right now, in inflation adjusted dollars... well its is plain to me what kind of person you are and what you are up too. 

So, plainly... Fuck You Liar!

Village Idiot's picture

Too funny!  Hey JW - if we ever square up for a pissing match, please forward me the link to this thread, first - I hate getting my ass kicked. Not that you are necessarily always right, of course. And no disrespect to burnbright.

MarketTruth's picture

"Buy Low! Sell High! no magic..."

Agreed, so Mr Big Shot show us all where is the 'low' you are talking about in the past decade besides the blip in late 2008? (where many of us backed up the truck BTW)


JW n FL's picture

I was in at $600 out at $900 and chickened out and back in at $980(ish)... so 3 years of the roof is beign blown off is getting old... every fucking time Gold moves the roof is being blown off for 3 fucking years... well I have heard the roof is being blown off so many times now that I dont fucking think that the roof is going anywhere near what the salesmen say. I own Gold as a Hedge, a physical hedge... to go with my Brass, wink wink.


having said that... whats the risk verse the reward? at $1,250? for a pop to $5k per the 8th grade math? or the real number that all of the Governments of the World! will let it reach?


People who buy Gold are hedging as a rule which has changed into a panic run or flight to safety... but the Gold Salesmen in here, are not pushing numbers... they are pushing fear for the General Publics consuption, this is not the first time I have been thru this with the bottom fucking feeders.

jomama's picture

apparently you can't afford gold?  pick up some silver then. 


i'm embarassed for you watching you get up here and try to compenstate.

JW n FL's picture

Canary in a coal mine... how aprapos.


See above idiot.

AR15AU's picture

At this point, the lemmings are holding a few USD and the "hope" of social security and foodstamps (40 million Americans on foodstamps now).  The people holding bars of gold are an elite few. Your post is and act of desperation, and sounds like the flat out bullshit of MSNBC / CNBC.  

Scarlo's picture

242k ounces only translates to roughly 300 million USD. At that bi-weekly rate, extrapolated for a year, you'd have almost $8B.  That's a drop in the bucket - I mean seriously - that's a couple quarters worth of bonuses at GS, FFS.  This might be a good opportunity to short the blip, but that's it. This isn't the final rave party before the hangover.

JW n FL's picture

How dare you!!!!!


... Gold to the Moon Bitches!!!! and Beyondddddddd!!

Gordon_Gekko's picture

You mean like Robert Prechter.

jaybaybaker's picture

There will be a good point to short in the coming days, but not yet today. I am definitely advocating selling here.

Hephasteus's picture

Nice of you to drop buy and advice us all.