Spot Gold Surges, UniCredit Sets New 2012 Price Target Of $1,600

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Tue, 09/07/2010 - 08:53 | 566973 Goldenballs
Goldenballs's picture

Up,up and away (again).Where,s Johnny Bravo ?

Tue, 09/07/2010 - 08:56 | 566981 Cognitive Dissonance
Cognitive Dissonance's picture

Lurking under any number of aliases.

Tue, 09/07/2010 - 09:25 | 567046 mrgneiss
mrgneiss's picture

JB reacting to today's rise in the gold price: "It's just a fib retracement to the _ _ . _ _ % levels from the July lows"

The beauty of this argument is that many numbers can be inputted into the blanks!

However, as we all know looking at the big picture this has nothing do to with gold, its just fiat that is tanking.

Tue, 09/07/2010 - 09:02 | 566992 Quintus
Quintus's picture

He'll be back.  If gold went to $1,000,000/oz he'll be here warning us that it's about to crash to only $600,000 "Any day now".

They're very persistent as a breed, those gold bashers.

Tue, 09/07/2010 - 09:35 | 567064 Cognitive Dissonance
Cognitive Dissonance's picture

They're very persistent as a breed, those gold bashers.

I wouldn't call him that. Maybe a genetic mutation caused by stray comic rays or a DARPA science experiment gone horribly wrong.

Just kidding JB, we love a stomach virus :>)

Tue, 09/07/2010 - 09:37 | 567070 Almost Solvent
Almost Solvent's picture

They're very persistent as a breed, those gold lovers.

Tue, 09/07/2010 - 09:49 | 567087 Quintus
Quintus's picture

That is true, but we keep ourselves to ourselves, and do not, as a rule, spend our time on Equity and Bond related blogs telling everyone there that they are idiots and are going to lose all their money 'Any day now'.

This behavioral trait is unique to gold bashers.

Tue, 09/07/2010 - 10:09 | 567121 fiftybagger
fiftybagger's picture



Equity and Bond investors are idiots and are going to lose all their money 'Any day now'

Tue, 09/07/2010 - 10:25 | 567169 Quintus
Quintus's picture

This is, of course, self-evident, but for the full 'johnny Bravo' experience, it's no good posting that here.  

You need to find a blog where Equity or Bond investors hang out and make 100 posts a day explaining to the poor dumb b*****ds why they are about to lose their money.

If, perchance, their investments actually move higher, disappear for a couple of days, revise higher your target for how low the crash will take their investment, then continue posting.

You may find that your own portfolio returns drop off somewhat, as you will be spending all your time reading and posting about something you have no interest in or exposure to, but it's a price worth paying to enlighten those misguided souls.  A form of charitable donation, you might almost say.

Tue, 09/07/2010 - 11:32 | 567307 RockyRacoon
RockyRacoon's picture

Listen, all you insensitive bastards!  Johnny is here to help his fellow man.  He neglects his studies and his investments for our own good.  Hardly an activity that deserves the vitriol.  Now if we could just get him to go away...

Tue, 09/07/2010 - 16:33 | 567864 Bow Tie
Bow Tie's picture

new rising wedge.

Tue, 09/07/2010 - 13:12 | 567483 knukles
knukles's picture

Thank God for that when all along I'd worried about it being angels playing HAARPs.  I gotta think this through. 

Tue, 09/07/2010 - 11:17 | 567277 Rick64
Rick64's picture

Where,s Johnny Bravo ?

School started again.  

Tue, 09/07/2010 - 12:19 | 567377 Cognitive Dissonance
Cognitive Dissonance's picture

Exactly. Ole JB was blogging out of his parents home (basement I suspect) which he let slip once or twice. The wonderful thing about youth, and I was there at one time as were we all, is that we're invincible and always right, until were wrong. But the hormones assure a short memory and an unbridled passion to tell the world of our brilliance.

Many of us survived our youth. Others are still within it's grasp. Still us are taking daily injections and are reliving the glory days hopped up on testosterone drugs.

Tue, 09/07/2010 - 08:58 | 566983 GlassHammer
GlassHammer's picture

See spot

See spot run

Run spot run

Tue, 09/07/2010 - 10:29 | 567174 iota
iota's picture

Now haz my lolz for the day.

Tue, 09/07/2010 - 09:01 | 566989 Cognitive Dissonance
Cognitive Dissonance's picture

Twenty years from now, investors will probably find it hard to imagine that there was once a time when jewelry demand determined one of the world’s most important asset classes.

Let me fix this.

Twenty years from now, investors will probably find it hard to imagine that there was once a time when false demand and supply impulses propagated by the Fed, other central banks and their lackeys, such as JPM, Goldman etc determined the artificial price of one of the world’s most important asset classes.

Better. Anyone else wanna try? :>)

Tue, 09/07/2010 - 09:05 | 567002 bigdumbnugly
bigdumbnugly's picture

i'll try.

20 years from now most investors probably still won't have a clue either way.

Tue, 09/07/2010 - 09:36 | 567066 Cognitive Dissonance
Cognitive Dissonance's picture


I surrender to the mighty bigdumbnugly. :>)

Tue, 09/07/2010 - 10:08 | 567116 Caviar Emptor
Caviar Emptor's picture

Twenty years from now, the "golden class"will wonder what the "paper class" were thinking by not owning gold at the start of the "golden age". 

Tue, 09/07/2010 - 10:56 | 567235 TGR
TGR's picture

That got me thinking; people grow into their 'golden years', get a golden handshake, have golden anniversaries, get 'gold' medals for first place in competitions, say things like "as good as gold" etc - there's plenty of everyday reminders as to the status of gold embellished somewhere within our culture.

yet there's still people who bash it or eschew it for paper illusions.


Strange world.

Tue, 09/07/2010 - 11:35 | 567313 RockyRacoon
RockyRacoon's picture

And the king of them all:  The "gold standard of...".  It's a commonly used term to describe the best of the best.  For damn good reason.  ZH is the gold standard of financial sites.

Tue, 09/07/2010 - 12:24 | 567384 Cognitive Dissonance
Cognitive Dissonance's picture

I'll never forget about a year ago some brillant mind (aka CNBC "guest host") was beating up on Gold while pushing technology. The kicker was when he said something along the lines of "The Gold standard for tech stocks is.....".

Suddenly my morning coffee went down the wrong pipe and I was gasping for air while at the same time I was trying to laugh. :>)

Tue, 09/07/2010 - 16:05 | 567825 Temporalist
Temporalist's picture

I remember that as well they were bashing gold and insinuating it was a barbarous relic, the old song and dance.  It was only this year maybe a few months ago or so.  I can try to find it it was shared on ZH.

Tue, 09/07/2010 - 11:57 | 567348 tmosley
tmosley's picture

For some kids, the only experience they have with gold is golden showers.  This must be a contributing factor to their extreme distaste for gold.

Tue, 09/07/2010 - 13:14 | 567487 knukles
knukles's picture


Oh my, that's just wrong.  I hope it's not Dr. Freud talking.

Tue, 09/07/2010 - 09:01 | 566990 JLee2027
JLee2027's picture

Probably a new high today and silver at $20. Wow.

Tue, 09/07/2010 - 11:50 | 567334 fuu
fuu's picture

Exempted prop desks everywhere trying hard today.

Tue, 09/07/2010 - 09:02 | 566993 taraxias
taraxias's picture

But.....but.....but Johnny Bravo said it was going to $900


It looks like Alf has got more brains than Robo. Soft porn anyone?

Tue, 09/07/2010 - 15:28 | 567772 Hephasteus
Hephasteus's picture

I can fap to that. Or fap turbo to that.

Tue, 09/07/2010 - 09:08 | 567007 Thomas
Thomas's picture

Very nice.

Tue, 09/07/2010 - 09:09 | 567009 Thorlyx
Thorlyx's picture

Gold, bitchez!

Tue, 09/07/2010 - 09:09 | 567011 qussl3
qussl3's picture

Anyone get the feeling that TPTB are playing the same bagholder game with retail but instead of equities its now paper gold?

Tue, 09/07/2010 - 09:14 | 567025 LoneStarHog
LoneStarHog's picture

Hey!  Put Karl Denninger on that information list with Dennis Gartman.

Tue, 09/07/2010 - 09:17 | 567032 Sherman McCoy
Sherman McCoy's picture

This trade is beginning to seem quite herdish. Is Soros, Paulson, Tudor, Ackman, et al ad nauseum, ad infinitum going to give you the heads up when they get out?

p.s. I was long until i looked at the px in euros and got nose bleed.

Tue, 09/07/2010 - 09:20 | 567036 Quintus
Quintus's picture

If you can call the (probably) 1% of investors who have any exposure to gold at all a 'Herd'.

Tue, 09/07/2010 - 09:32 | 567061 tmosley
tmosley's picture

Black sheep herd.

Once you go black...

Tue, 09/07/2010 - 10:05 | 567053 Pladizow
Pladizow's picture

If most well educated people bought life insurance, would that too be bullish?

Gold is not being purchased by the informed as an investment but as insurance.

You dont buy gold to make money, you buy gold because you have money.

Tue, 09/07/2010 - 10:30 | 567176 Monetary Lapse ...
Monetary Lapse of Reason's picture


"you buy gold because you have money"


So simply stated... and so true.  The only thing I would add is, "you buy Gold because you have money", and you are prescient enough to realize that Fiat, and other Fiat-backed forms of investment, are not reliable stores of value in the current environment.       

Tue, 09/07/2010 - 11:06 | 567251 Anton LaVey
Anton LaVey's picture

You could also say: "You buy Gold because you have wealth, and you want insurance that this wealth is not going to evaporate tomorrow".

Money and wealth are not the same. Money is a way to count wealth, to ascertain its value, so to speak. Money comes and go, but wealth should remain.

This is exactly the reasoning I had a few years ago, when I looked around at the crisis and realized I needed something serious to protect whatever little wealth I had from the economic disaster I saw unfolding.

I started buying Gold and Silver several years ago and I have had no reason to regret that decision yet.

Tue, 09/07/2010 - 11:19 | 567281 Pladizow
Pladizow's picture

Suspicion toward a currency, once awakend, develops insomnia. - James Dines.

Tue, 09/07/2010 - 11:41 | 567319 RockyRacoon
RockyRacoon's picture

Gold is a magnificent soporific.

Tue, 09/07/2010 - 16:24 | 567850 nuinut
nuinut's picture

Gold is crystalized wealth, removed from the system entirely by its owner, and ready to be deployed back into said system at the discretion of its owner.

Should the system crash and massively deflate in gold while the gold owner holds their wealth outside the system, well good for them, eh?

This is golds function, to hold wealth securely outside the system, and in the performance of this function it finds its value. Should the system have a massive meltdown, then golds value will have been demonstrated to be exceptionally high, no?

Tue, 09/07/2010 - 11:38 | 567316 RockyRacoon
RockyRacoon's picture

...Soros, Paulson, Tudor, Ackman, et al

That's not a "herd".  That's a who's-who of investors.  And, no, they will not let you know when to exit.  It wouldn't matter because in a bubble nobody would listen.

Tue, 09/07/2010 - 09:20 | 567037 ArrestBobRubin
ArrestBobRubin's picture

The Golden Scythe is hunting down Blythe. You can run, but you can't hide.

Tue, 09/07/2010 - 09:27 | 567049 mrgneiss
mrgneiss's picture

In her case its actually a silver scythe.

Tue, 09/07/2010 - 09:26 | 567048 Amsterdammer
Amsterdammer's picture

I'm no member of the GATA, but another variable

to incorporate in this analysis is that world central banks hold

bank gold assets amount to 32,000 metric tons.

The rumourmill is back: Gold and Silver Trading biggest

scam in history


Tue, 09/07/2010 - 09:37 | 567069 What_Me_Worry
What_Me_Worry's picture

Paper gold and silver trading is one of the biggest financial scams in history.  Truly a ponzi scam and the best part is, (almost)everyone already knows it and goes on trading it anyways.

Everyone thinks they are the smartest guy in the room.

Tue, 09/07/2010 - 10:38 | 567195 Anton LaVey
Anton LaVey's picture

To which the standard answer would be: watch the show when everyone starts running for the exit... at the same time

This will make the scenes near the Titanic life boats positively tame & polite by comparison.

Tue, 09/07/2010 - 13:18 | 567498 apberusdisvet
apberusdisvet's picture

It's coming, sooner than you think.  Once silver pops $20 and stays there for a few days, it will unleash a Tsunami.  I wonder if Ben and Timmie can breathe under water?

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