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We were 24 hours off with our estimate for $1,400 gold by EOD Friday. Nonetheless, the level has just been breached. It won't stop there.
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Let's try and tighten up these forecasts ZH! :-)
can someone explain to me the major factor(s) causing it's rise so far? I was expecting a pretty big correction around 1250 (obviously was dead wrong). I don't have the numbers but is Benron's money/debt creation for QE2 really enough to offset the entire market deleveraging and paying down debt (deflatinary since it takes USD out of circulation)? Is something else happening? Are excess FRN's coming home from over seas? I was under the impression they were flowing towards emerging markets, etc.
or is it just a combo of everyone knowing that Benron is creating FRNs, more and more people waking up to what's happening and what gold/pm's are, etc.?
I personally think this is the foot of the exponential curve.
Those people still having the deflation/inflation argument better make their mind up soon.
you mean in terms of debt? I understand ala chris martenson about money being debt and needing constant exponential new debt to service old debt and interest.......but hasn't debt been declining? I'm just trying to get a handle on what the largest factor(s) are so I can keep an eye on them......
No, I meant in terms of Gold, or all the commodities for that matter.
We've reached the stage where the US is monetizing the deficit. It's the event horizon, and Ben happily stepped beyond it. The scheme is more elaborate, but it boils down to Zimbabwe/Weimar Republic economics.
Short of cutting Medicaid/Medicare, Social Security, Defence, and other mandatory spending, any "austerity" cuts will be the equivalent of rearranging the deck chairs of the titanic.
And if a party eliminates any of these, they'll never be re-elected. Fucked if they do, fucked if they don't.
Printing is therefore the easiest political option - just as it was in the Weimar Republic - and all the commodities won't look back.
This may simplify: Synopsis: Gold Is Not Money
yes I understand that line of thinking but, as was pointed out in the a more recent ZH post in the interview with chris martenson and steve keen, the deleveraging and paying down of debt + lack of demand for new credit is far more powerful than benron printing up 600 billion. Loans create new deposits, which isn't happening right now.
but alas, I was asking these questions at 1250 and here we are today.......could people be losing confidence fast enough that this is what is causing the rise?
My link above answers this question exactly.
We are watching the whole thing unravel in real time, and as we do, we are attracting a crowd, and directing their attention to the spectacle before us.
Critical mass can take a while to build, but don't be fooled... it's exponential.
The whole shithouse is about to go up in flames...
Some big traders are short big time and getting caught in a squeeze. That's all there really is to know in the short run. Remember oil in 2008? Same reason. Watch silver, up 2+% again today. No fundamentals at play here. Wouldn't be surprised to see it trade above $40 and below $20 all within a 12 month period.
Self regulating markets my ass. As an investor, I wouldn't touch any of them with a 10 ft. pole.
but...but phd eCONomists say markets are efficient!!!! and human beings are rational!
*snicker*
The market-as-regulator IS going to punish those caught short and undressed. It's called losses. Which is more than one can say for the State-as-regulator...
You aren't asking for rationality, you're asking for prescience.
I'd expect some resistance around 1420 if only because I expect Blythe to ultimately set up shop around 1440, and her history is to fall back in $15-20 increments. At this rate, we may see 1440 by later this week/early next. At gold 1440, what would silver be? 29? Probably.
We'd be due for a bit of profit-taking there. Maybe get a pullback to where we are right now, namely 1410 and 28. But buy, buy, buy all dips.
Lastly, watch that crude market. Today makes three closes above resistance around 86 on the Dec10. We could see 92 real f-ing fast.
I like days like today when both the dollar AND gold are up. Gives me a little bit more time to buy more PMs...
2:30 PM ET. Palladium up an impressive $22.00 (kitco.com).
Well, I gotta admit, you do have a pretty damn good track record when it comes to predicting the price of Gold. What's your occupation for the record?
So much for buying the dip. Dammit!
Been right there with you for a few days...
Grrrrrr
I kept some powder dry too. Did the same thing in the 1200's waiting for my dip. Finally bought at 1290. Got to that 1350 I needed to clear the commission pretty damned quick.
Don't forget silver through the roof too.
PMs female dogz. Roof Roof Roof.
Gold will once again be recognized as capital by more than just the central banks. The silver upside will make some people rich. There's a difference, and I know what it is. I suspect you do, too.
Edit: It's starting to look like it's gonna be a dollar day in silver.
A dollar would be nice.
Wednesday though may be $2-3 dollars.
Why Wednesday?
I've been busy with work and not keeping up as well as I should.
According to Tyler here it's when the Fed monetization begins and is 2-1/2 times the POMO size effect on the markets.
L'or, les chiennes !!
L'argent, putes!
Platinum putas!
Platino putaz!
it's ok to say bitchez...nobody is going to tattle
Gold is cheap, if you can buy it with fiat money. Some day, you won't be able to.
I've been saying a long time here at ZH that gold is cheap, a bargain really, at under $1500. Still feel that way.
Those of you who have no gold should buy some ASAP.
Amen, Bro.
Bargain under $2500.
It will be expensive at $5000.
And then real expensive at $10000.
CURRENT POWER LEVEL OVER 9000 !!1!11111
Lightning striking twice today!
lol
Since we're digging out old memes.
http://img176.imageshack.us/img176/4985/goldh.jpg
haha.
first time i saw that pirate (?) was with the caption:
'har har! im using teh internet!!1!111111'
I remember that.
Physical gold will continue to be cheap until it is no longer available.
1400 gold is the dip, as time will show.
whatever. silver and Cu will outperform Au
Who knows gringo28? I certainly do not.
That's why I have some Ag and Pt as well. More in gold though.
Oh, yeah, I just realized that I have a 1 liter plastic bottle full of pre-1982 pennies, and almost 3 liters of nickels.
Lordy, lordy. As a coin dealer I get wheat cents by the pound. I just threw them in a big metal bin with a view to taking a look at them for collectible coins -- when I got a little extra time. Hell with that. Can't melt 'em without going to jail so I guess I'll just sell 'em by the pound and scoop 'em up with a ladle.
OK, as a non coin dealer, I would think that getting WHEATS by the pound would be worth trolling through for collectibles. In my liter of Cu pennies, there are maybe 2 or 3 wheats, all common dates, so into the bottle they went.
If the metal value of nickels keeps going up, I will loot the banks of theirs...
coinflation.com
what if they accidentally fell into the smelter?
Ooops....
And Cu, Zn and Pb will outperform Ag... where are we going with this?
thunderdome? a few weeks back i switched to silver and am now 4:1 silver vs gold. have been long copper for a while and will stay that way. silver is just too nice these days.....
im about 50/50 which looks ridiculous when stacked side by side... silver has a nice long run coming up
I was 50/50 too, until the silver rocket left the spaceport. Now I have my hands full trying to analyze a chart that's arrived in outer space.
I'm going to flattly agree with gringo on this one spot silver is going to outpreform gold in the long run. The good old supply and demand argument is the basis for this. Naked silver shorts vs naked gold shorts, I am ignorant, please to enlighten me? I always seem to want to say that silver is for barter and gold is for wealth storage, even though im not sure that will affect the value of silver significantly, and definately only comes into effect with an epic fiat fail. BTW is anyone here predicting and epic fiat fail? Seriously though, I'm also uncertain as to the effects of rapidly increasing ag and au values on the change to profitability of mining sources that are not being utilized currently, and the effect of their utilization on both gold and silver supply. Any ideas/leads on this would be most appreciated.
You're over working it, my friend. Just buy gold and silver common coins and put 'em in a safe place. Forget all that mental masturbation.
Right u r Rocky... I just buy the Sprott PM Fund and let the experts decide the silver / gold mix... > 80% last 12 months.
just buy what you can and only sell some if you have a good place to exchange the wealth into - this isn't madmax.. once gold goes to $5000 and silver $100 I will sell some and put the gains into some projects
I agree, but as long as I'm making a hobby out of monetary collapse, I might as well refine my arguments. Gold and silver held together = good, I agree. I'm just saying I think silver is going to outpreform gold over the next few years based on what I know, I'm trying to know more in order to think more effieciently about the future. Sorry to come back to a dead thread, I should be in the forums anyhow.
These threads never die....
Buy American Silver Eagles and damn the price.
That sounds like something I can agree with at the moment, cheers to you Mr. Racoon.
Up and up Au goes, where it stops nobody knows.
take a look at everything you have. your registered cars. your registered home. your stock portfolio, your cash in the bank, your retirement accounts... it's all THEIRS.
all you really have as an asset is physical PM's.
Gold, bugz!
Damn right, Pony!
Yeah, well, Denninger who has been WRONG on deflation, the U.S. Peso, gold/silver, etc. NOW states that gold/silver will NOT save you, as the government will just TAKE it from you. The DOUCHEBAG will not admit to being wrong and leading his Kool-Aid crowd over the proverbial cliff.
"First they ignore you, then they ridicule you, then they fight you, then you win." -- Mahatma Gandhi
don't listen to Douchinger, then.
He doesn't seem to get that they can take his trading account, his FRNs, his fucking boat, his house, and WTFever the hell else he think is his if they are so inclined.
What's going to end up happening is that after he has bankrupted and impoverished all his TF acolytes, one of them may take the hard option on his ass.
LOL.
Pathetic, isn't it? They're only starting to beg.
+ Pfffttt!
Fastest 15 Junks Ever!...errr I mean 17...I mean...
junk away. it just shows how mad you are you bought into the next bubble. keep watching beck and wasting your money if you want but i will try to be a voice of reason. no need to have an anti common sense echo chamber
OK now THAT made me LAUGH!
lol! so many junks on that first post. these satirical handles get a laugh from me. but it will actually be obama2012.
Obama2012,
Gold is monie.
Sincerely,
LH
gold is monie? how many times per day do you take out your gold coin chip off a chunk and buy something? big fat zero i bet. gold is not money. gold is a rock that is dug up purchased and buried again. stupid.
have a sense of patriotism and use all that extra REAL money you have and help the country. put it to a productive use.
http://www.huffingtonpost.com/chris-matthews/post_1216_b_779225.html?ir=...
Your "sense of patriotism" is clearly broken. If you knew what patriotism was you'd recognize the Founders of the U.S. didn't want socialism they wanted Individual Freedom above all else.
Quite right.Buy Gold so your country will have wealth after its collapsed.
your clearly joking and just trolling for fun.
Isn't the user name a give-away? Clearly, he is just joshin'.
I have no need to spend any extra monie I earn. I save it. And as far as me doing something patriotic, other than shopping locally as much as possible, I believe exchanging FRNs for gold/silver is patriotic because the less I use the US' bloodsoaked dollars, the better.
Money vs currency, you need the wikipedia before the zerohedge. BTW making fun of Beck is common fair here, not because he's pro gold, but beause he's a crazy ass hat of Faux media. Patiotism does bode well for "REAL" money, just in the opposite way from what you are thinking.
Money is different from currency. Best learn the difference, lest you be left with thousands of pounds of currency, but no money.
Chris Matthews is such a moron. I mean, wtf kind of partisan shilling is this? WTF infrastructure did Democraps build? There was no push for rail during the 90s, NONE.
The fact is that the debtpeddlers were the biggest donors of his Messiah and they give not one fuck about building anything.
Obama, I told you the gold ain't money or the gold is in a bubble routine just ain't going to cut it man. Goldbugs laughing at you. I told you soooooooo
Debt is the bubble. 1oz Gold Today equals 1oz Gold Tomorrow, 1 Dollar today does not equal 1 Dollar tomorrow.
Debt is the bubble.
And, since the debt is all fiat-based, guess what else is a bubble?
Wait, don't tell me. I know this one...
I regret I have but one junk to give for this fine thea"trick" performance.
Oh, right, because ALL commodities rising in unison = BUBBLE, it's not because your master is creating inflation.
Keep living in denial, bozo.
Some people just get a kick out of generating emotions in others. Having reviewed the poster in question, no one can be this clueless as he/she appears to be...so...
It is hard to believe how incredibly stupid you are. Stupid as a stonethat the other stones make fun of. So stupid that you have traveled
far beyond stupid as we know it and into a new dimension of stupid.
Meta-stupid. Stupid cubed. Trans-stupid stupid. Stupid collapsed to
a singularity where even the stupons have collapsed into stuponium.
Stupid so dense that no intelligence can escape. Singularity stupid.
Blazing hot summer day on Mercury stupid. You emit more stupid in one
minute than our entire galaxy emits in a year. Quasar stupid. It cannot
be possible that anything in our universe can really be this stupid.
This is a primordial fragment from the original big stupid bang. A pure
extract of stupid with absolute stupid purity. Stupid beyond the laws
of nature. I must apologize. I can't go on. This is my epiphany of
stupid. After this experience, you may not hear from me for a while.
I don't think that I can summon the strength left to mock your moronic
opinions and malformed comments about boring trivia or your other
drivel. Duh.
LMFAO! - that's about the funniest shit since the "dinosaurs giving each other massages" comment the other day.
+100
Can't take credit for it. It's an excerpt from probably the best flame of all time. Here is the full rant:
http://www.guymacon.com/FUN/INSULT/INDEX.HTM
"I never apologize.
I'm sorry, but that's just the way I am."
- Homer J. Simpson
++Credit.. Blissfully ignorant, infinitely stupid.
Don't - Feed - The - Trolls
voice of stupidity, have a nice day
Johnny Bravo , is that you?
Johnny said that he would leave Zerohedge if gold hit $1400 before $900. I for one hope he keeps his word. Robert is more generous of heart.
Is that you JB? If so, welcome back!
Gold to $55,000.
Hello, rolling bearing. Same thought, same time. Cheers old friend
Back at you merehuman. Hope things are going well for you.
Besides, we need gold bears.
You're not at Nadler or Bravo's level yet but you certainly have the potential to become ZH's greatest troll. Keep up the good work. Oh, and here's another junk for you. I hear you've started collecting them.
Thus speaks another fine example of the U.S. public edumacation system.
yes we can can can yes we can can can
gimme a slice of bernake 'n' obama's QE pie, and shut my mouth.
we all gonna get rich off obama lol.
Those that had a vision, those that had the courage of their convictions when all their peers were ridiculing them, those that are now a leg up on the world of falling fiat currencies, those that are now able to say 'I told you'....
Those are the people that I take my hat off to. They are truly courageous. They will reap the benefits of their risk. They are the true capitalists!
Long live capitalism!
Gold bitchez!
Lookin' for that sarcasm flag to match the waving tongue on that one.....
Member 1 week 5 days - either a new troll or a new 'performance artist' (guys that just try to rile everyone up).
no, he just stumbled in here, his lips still flecked with the sweet purple juice of PROPAGANDA!
Some kind juice alright, the kind you get by getting on your knees and...
Oh I'm sorry, I couldn't see his lips for all the Bernanke ass attached to them.
Troll.
The big problem with the trolls is whenever the excrement does hit the rotary oscillator, the big mouths vanish never to be seen again!
I junked him but took it back.
The sadist says to the masochist, "I'm gonna kick yer ass!"
The masochist says, "Really?!"
The sadist says, "No."
I had to log in right now just to junk you.
made me laugh; straight to the point
well, my time stamp is wrong and i emailed tyler for some advice, no reply he is busy with this great news of GOLD busting out a move. how come i can't changed my time any more. i think i am on eastern time and don't see the EDIT your time button.
see this post has 14:24 and really my time is only 12:24.
H E L P
SoS
oh you should stand back and reads you guys your like little children in a candy store.
Nice glimpse. Thank you.
hi Mr Troll: Nice to meet ya! Obama2012 lol
hate trolling you may hook up a nice yellowtail in these waters
Johnny Bravo has a new name.
Johnny's act was never this tight.
Buried canned ham in the backyard bitchez !!!
http://www.guymacon.com/FUN/INSULT/INDEX.HTM
Your mother was a Hamster and your Father smelled of Elderberries!
Goled to $200 Bitches! The TA is just all wrong....Forming a double Wedgie in Bernanke's Buttcrack... Alf, slow down this crazy thing, ALF !!!
I didn't know one planted canned ham this time of year.
Goled to $200 Bitches !!!
Are we all adults on this thread? I'm not I'm laughing so hard.
Happy to be of assistance my good Madam. It is a good day!
Obama 2012? Great name!
Your creativity tops that of a con artist.
Lighten up, Frances's. :-) Obviously that was tongue-in-cheek.
(No, it wasn't me)
whose cheek?
Get ready for a lot of this rhetoric from the Administration and corporate Big Media. They are not amused by these upstarts who refuse to go along with the agenda and be bagholders.
I needed a good laugh, thank you.
Silver going bonkers.
Why buy companies like Priceline with 19 Billion market caps and net revenues that are only 450 million annually with little room remaining for growth
Why buy companies like NFLX that are pricing 9 Billion in market cap althought they have never had net income over 130 million a year.
You could simply not simply buy real money which equates to less money for paper stocks and give Ben a little justice for his insanity.
It won't stop there. No it won't. As long as Bernanke is in charge of the economy, keep buying and holding.
As every week passes, it looks like FOFOA is becoming absolutely right (also Sinclair, etc.).
Think I'm going to have to donate to his site again, without FOFOA I would not have bought as much gold.
fofoa.blogspot.com
dude have you looked into fofofoa.blogspot?
fofoa brings good review ... read them all, plz i beg you
I have indeed read that one, as well as all the gold sites, etc.
But, maybe I should go ahead and just start fofofofofofoa.blogspot.com. Get the name while I can...
Thanks for reminding me. I just donated again.
+1 Do Chin! Hats off to....FOFA, Daily Reckoning, KWN, Blanchard (who took them on single handed and won), Gainsville Coin, Jim Rickards, Doug Noland, Max Keiser, Jim Willie, Jesse's Cafe Americain, Jim Rogers, Taleb, John Hussman, Casey Research, Automatic Earth, Daily Bell, and many, many more. I sincerely thank you for being there when times were tough and believing in the future of PM investment was trying to say the least.
We have not won the war but now we are beginning to win a few battles. I hope that one day the world will once again be able to say 'sound as a dollar', but with an out of control Fed and treasury and bought and paid for politicians it will not happen.
In the darkest days, days when absolutely no one wanted gold, I could only think 'well, gold will never go to zero'....and that was all there was to keep me going.
Easy with the acceptance speech, Sally. ;)
Snidley,
I would add James Turk, John Embry, Ted Butler, GATA, Martin Armstrong, Richard Russell and others to that list. These people are the experts to listen to, and not the Gartman's and Nadler's of the world.
I wonder how Ronald Rosen and the other Prechterites are doing these days?
nathan a martin R O C K s
http://economicedge.blogspot.com/
I said 'and many, many, more' and you are correct. All have my best regards and respect.
...and, it was not an acceptance speech...a simple reply to OBAMA2012.
...obviously obama2012 wants all that own a bit of gold to throw it into the socialist system that passes for 'American Democracy' these days. Gotta pay those bank lobbyists somehow.
Indeed many share the honors of predicting this.
+ $1408
yeah baby, some early morning e^x action for ya!
what is the female e^x action COWBOY†
the exponential function does not know gender
e^x is the keyboard way of writing 'e raised to the power of x'
e is the natural number that is approximated by 3-(5/63)^(1/2)
Did you see that? I did it again by using the symbol "^" to mean 'raised to the power of'
You with me, COWGIRL??
NOPE
sure isn't simple, now is it.
haha,
you're a stange cookie, kathy. I think I like you...
Honestly I'm amazed that it's only $1400. I mean we have the international bankers calling for a new gold standard already and gold would have to be a many multiples of the current price to fill that role. The current price is insanely low.
You are channeling FOFOA and I'm right there with you.
They beta test by advertising their future plans. They do this on every major future event for several reasons. One so that they told you so when they do implement a gold standard, you will not be surprised to find out and you will accept it. I will point out that this is easy to do when gold should have been the standard all along. The hard part was having the FIAT accepted, and that was accomplished long ago by easy credit, and easy oil. Now that oil ain't so easy, they are folding the chairs. The party is over. Back to the basics.
The second reason is they want to see how people, all people, respond to these clear and precise messages (ending fractional reserve lending/gold standard). The game will go on as long as it can. They will pull the plug once oil production declines, or a revolution starts. Until then, they will ease it in slow.
One of the purposes of the media is trial balloons