Sterling And Euro Fall On Economic Concerns - Gold Rises To Record £950.81 British Pounds An Ounce

Tyler Durden's picture

Your rating: None

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Fri, 06/10/2011 - 07:19 | 1357252 Michael
Michael's picture

You do realize we are playing out the story of the Wizzard of Oz here,

Don't You?

I'll wait for the new version of OZ coming out this summer.

Fri, 06/10/2011 - 07:20 | 1357255 bigwavedave
bigwavedave's picture

bigwavedave: "this is not the move you've been looking for"
marketmorons: "this is not the move we've been looking for"
marketmorons: "move along"

Fri, 06/10/2011 - 07:17 | 1357256 I think I need ...
I think I need to buy a gun's picture

bill gross "savers will get destroyed and pay for all this" the next few years.....and that criminal co worker of his el errian or whatever can go to hell for finally speaking a tiny truth and that jerkoff head on CNBC yesterday laughing that qe 3 is coming faster than you think......yes thankyou i can read between all the bs its called gold revaluation. these jerkoffs are going to be oligarchs while may neighbors lose everything

Fri, 06/10/2011 - 07:34 | 1357267 Michael
Michael's picture

Did you know there are 200,000,000 Americans living in America who know how to use a fire arm, and that there are double the amount of fire arms per persons in America?

Fri, 06/10/2011 - 09:50 | 1357615 Pegasus Muse
Pegasus Muse's picture

My Sig Sauer tactical assault rifle arrives monday.  What's that -- weapon number six or eight?  And I'm under-gunned compared to most of my amigos.  Just trying to catch up.  lol 

Fri, 06/10/2011 - 09:52 | 1357631 Lndmvr
Lndmvr's picture

And probably a few million unregistered foriegn gun holders. I try to keep up the american average.

Fri, 06/10/2011 - 07:25 | 1357258 hugovanderbubble
hugovanderbubble's picture

Credit Agricole is in default....

Fri, 06/10/2011 - 07:34 | 1357266 slaughterer
slaughterer's picture


Fri, 06/10/2011 - 07:32 | 1357263 GeneMarchbanks
GeneMarchbanks's picture

"Gold bullion remains owned by a tiny percentage of retail and institutional investors and there has not been any “piling into gold” yet - contrary to some sensationalist reporting. The risks posed to all fiat currencies and the real risk of an international monetary crisis will likely lead to a gold mania phase when investors and savers do actually pile into gold"


I'm looking forward to this... assuming this is so.

Fri, 06/10/2011 - 08:20 | 1357341 Michael Victory
Michael Victory's picture

I'm looking forward to summer bullion at a nice price.

The gold boyz are talking about a summer rally. WTFK

Historical tendencies predict higher moves after the June-July time frame.

Hoping the summer of 2011 is the same. 

Fri, 06/10/2011 - 07:29 | 1357264 MrSteve
MrSteve's picture

"Gold represents the lifeboat" is a little misleading; gold represents the last seat in the lifeboat which is already rowing away to escape the suction of sinking vessel.

Fri, 06/10/2011 - 07:35 | 1357270 Broomer
Broomer's picture

it is important to realize that the inflation adjusted high for gold in 1980 is over $2,400/oz.

Where can I get a gold price chart adjusted for inflation?

Fri, 06/10/2011 - 07:43 | 1357287 Broomer
Fri, 06/10/2011 - 08:18 | 1357348 Michael Victory
Michael Victory's picture


Fri, 06/10/2011 - 07:37 | 1357272 Roger Knights
Roger Knights's picture

"Gold represents the lifeboat."

It floats like a bubble and buoys like a beachball.

Fri, 06/10/2011 - 07:42 | 1357276 hamurobby
hamurobby's picture

I spend an inordinate amount of time on ebay looking for bargains on gold coins. The flow comes and goes, but right now the "no reserve" auctions are becoming less common. I have noticed that this seems to front run a rise in the fiat price paid for gold. During the last two years, there have been prices and times when there was plenty of gold coins etc for sale and you could even buy gold at or below spot, but thats rare if not the case at all right now. It seems at this point, the higher the price, the more scarce gold is becoming.  just my observation.

Fri, 06/10/2011 - 07:42 | 1357284 chump666
chump666's picture

it begins...6th mth liquity crunch

Fri, 06/10/2011 - 07:42 | 1357285 Re-Discovery
Re-Discovery's picture


Like catching 5 falling knives with two hands.

Fri, 06/10/2011 - 07:56 | 1357311 ivars
ivars's picture

Gold is positioning itself for a minibubble in October-November:


Fri, 06/10/2011 - 07:58 | 1357316 Eally Ucked
Eally Ucked's picture

Meanwhile Kitco gets involved in gov. investigation and ask court to appoint receiver.

Fri, 06/10/2011 - 08:07 | 1357326 YHC-FTSE
YHC-FTSE's picture

5*s for this piece! Precisely what I was thinking about this morning! Particularly in regards to historical inflation adjusted prices for gold and the threat of rising interest rates on the horizon.

Fri, 06/10/2011 - 08:12 | 1357335 Sofa King
Sofa King's picture

Fuck Silver and Gold.  That's the moneychangers ware.  Bitcoins are the future my friends.  Peer to Peer currency will bring the assraping the bankers.  Minion Schumer is up in arms; must be a credible threat to the return to the money of Kings and the Gentlemen robbers.

Fri, 06/10/2011 - 08:15 | 1357342 FunkyOldGeezer
FunkyOldGeezer's picture

Ivars: Why post links that don't work and can't be viewed anyway? Therefore anything you write (with such arrogance and authority) is of absolutely no use. You either want to convince us or you don't... what is it?

BTW, what happened to Silver hitting 20?

Fri, 06/10/2011 - 08:40 | 1357392 sudzee
sudzee's picture

Paper silver, ya right. Try to redeem physical from kitco's "safe storage" today.

Fri, 06/10/2011 - 08:57 | 1357442 ping
ping's picture

Aaaand it's just fallen by ten GBP an ounce... Tyler, the Rand Corporation reverse vampires are monitoring your every post. Careful, man!

Fri, 06/10/2011 - 09:21 | 1357545 GMRobertson
GMRobertson's picture
I am amazed.  Only Reuters carried a few lines prior to the drop in the Euro yesterday afternoon.  It continues down today.  Had little to do with Trichet or econ news - it is all that the Starbatty (Group of Four) lawsuit that German funding or involvement with the EFSF, EFSM and ESM are not in accord with the German constitution.  Oral arguments to be heard July 5th.  It seems most analysis of the likelihood that the Karlsruhe will rule for the plaintiff is based upon the results - and therefore all who do comment, who did notice this, state emphatically that Karlsruhe will rule that German participation is constitutional.  But every legal scholar and academic source I can find comes to the conclusion that the EFSF, EFSM, and ESM are unconstitutional.  It should be remembered that while the Karlsruhe can refuse to hear any motion that will do harm to Germany, once they do start proceeding they are obliged to be strictly in accord with the constitution.  The Germans by design call this a "constitutional court" given the dismal failure of the German court systems under Hitler and how they became tools of the Nazis.   I find it incredible no one has noted this development and no one has it  front and center nor did I find one NYC available press carry the story this AM.
Fri, 06/10/2011 - 11:22 | 1357992 Curtis LeMay
Curtis LeMay's picture

Politicians 'Are Lying Through Their Teeth' on Greek Aid



Financial Times Deutschland writes:

"When it comes to the construction of the next bailout for Greece, all the stakeholders are lying through their teeth to such a degree that one hardly knows who one should point the finger at first.",1518,767919,00.html

= = = = =

Wonderful. More lies from the, yuch spit, "euro elite"...

Just bulldoze Brussels before fiscal Armageddon visits us all..

Fri, 06/10/2011 - 13:46 | 1358518 falak pema
falak pema's picture

"Just bulldoze Brussels before fiscal Armageddon visits us all.."

You are worse than your avatar, who was a true hawk aka Dr Strangelove parody and viz. the Fog of War  testimony; as you are like Pi squared : a cross between a Patton and a Lemay...Now that is truly a level of hubris which is uber-alles. 

Fri, 06/10/2011 - 15:01 | 1358952 Curtis LeMay
Curtis LeMay's picture

"Worse"? For who, for you??

Dude, put the bong down. Reality is your friend...

EU = Despotism.

Open your God damn eyes before those who entrusted you with their portfolio drag you down the ku'damm behind the Merc you conned them out of...


Do NOT follow this link or you will be banned from the site!