There Goes Gold

Tyler Durden's picture

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Popo's picture

Kapow!   Good job Bernanke.  How does it feel to be a miserable failure?

TheTmfreak's picture

Dammit to hell. Can we get some more price manipulation in here so I can get more gold at very discounted prices.

TheTmfreak's picture

Gold is completely in a bubble. Get out while you still can. It is so extremely over priced, unlike linkedin. I will be willing to buy one's gold bullion for half price.

Any takers?

JW n FL's picture

http://www.wallstreetandtech.com/articles/231001412?cid=nl_wallstreettech_daily

 

UBS, Credit Suisse to Announce New Job Cuts

In addition to UBS cutting 6 percent of its IT workforce, Swiss banks UBS and Credit Suisse are set to announce thousands of fresh job cuts as they face falling trading volumes and rising costs, a newspaper reported.

the mad hatter's picture

riding this baby while I still can until they hike margins to those of silver (6k per for gold, 26k per for silver)

mr_T's picture

My chains are going to be worth a fortune... I'm not wearing that gold on roll shit fool... 24k biachezz

Hard Assets's picture

If you find one taker anywhere on this planet I will buy you a new hat.

 

Manthong's picture

I will gladly pay you Tuesday for a hamburger today.

Long-John-Silver's picture

Will you pay Tuesdays price for today's hamburger?

Hyperinflation is a bitch.

IQ 145's picture

 That, in one short post is the problem with bonds and the stock market as investments today. I think everyone who's just started studying this subject should memorize it. Any kind of inflation is a bitch if your timeline is measured in years. People have a really hard time with the fact that when they netted out 11% on their mutual fund in two years; they made nothing. Everyone needs to think purchasing power, purchasing power, purchasing power, until it's automatic.

TheTmfreak's picture

Right. Well anybody who is actually thinking correctly when they hear inflation should realize what that means. How can you continue to make the work you have done in the past, worth what it was worth. Therefore compiling your lifes work and saving to be able to do or use something of it. This is the question of the century (or two).

IQ 145's picture

 That, in one short post is the problem with bonds and the stock market as investments today. I think everyone who's just started studying this subject should memorize it. Any kind of inflation is a bitch if your timeline is measured in years. People have a really hard time with the fact that when they netted out 11% on their mutual fund in two years; they made nothing. Everyone needs to think purchasing power, purchasing power, purchasing power, until it's automatic.

IQ 145's picture

 That, in one short post is the problem with bonds and the stock market as investments today. I think everyone who's just started studying this subject should memorize it. Any kind of inflation is a bitch if your timeline is measured in years. People have a really hard time with the fact that when they netted out 11% on their mutual fund in two years; they made nothing. Everyone needs to think purchasing power, purchasing power, purchasing power, until it's automatic.

Bananamerican's picture

now THAT'S what i call automation, IQ...

DosZap's picture

TheTM<

Nice try SLICK..............

But, the Koolaid drinkers are elsewhere.

MolotovCockhead's picture

Yeah, feels like Bernanke is working for us eh? I mean working for us goldbugs, of course!

Dr. Richard Head's picture

Weeeeeeee!!!!!!!!!!!!!!!

hambone's picture

High of $1563.50 on the day...so far.

GeneMarchbanks's picture

1563.50 is sooo transitory.

+1----to myself?! You betcha, no shame.

hambone's picture

Tranzzzitory indeed - new high $1565...those (me) waiting for the last dip to buy gold and silver w/ final 25% of fiat may be outa luck? 

Bastiat's picture

Buy silver, it's very cheap . . . so's gold for that matter.

hambone's picture

Think I'll wait for the final breakthrough and successful retest before I throw the last of my cash into the pot...at this point it's only a $10 or $20 difference to see the cnfm.  And agreed, I'll buy silver but watching gold as the tell.

LetThemEatRand's picture

What's really amazing is that they were clearly trying like hell to keep a lid on gold and silver all day yesterday and into the morning.   Maybe they are running out of thumbs for the dikes.

hambone's picture

All right - I just lessened the outstanding silver supply by 200oz...should be good to get us over $40 by Wednesday am???

IQ 145's picture

 It can't hurt. Apologize for the repeats; it was my browser's fault! I'll take an even money bet you'll make it by Thanksgiving.

MolotovCockhead's picture

Fingers, thumbs and toes are all used up, too bad their dicks are way too soft to be of any use except to feed the neighbor's dog.

Cdad's picture

Surely, this suggests confidence in Ben Bernanke.

/sarc

Upswaller's picture

Anyone think it strange that silver was beaten down twice in the last couple of days, by equal amounts both times, just in time for a swing right back up?  As if TPTB knew it was going to head up?  Because news of QE3 was going to leak?

JenkinsLane's picture

That was my first thought too.

bania's picture

gold meets viagra...

Cognitive Dissonance's picture

It was me. I bought the last Gold Eagle that pushed it through resistance. I clicked "Buy" and the price went crazy.

My bad. Won't happen again.

Sorry.

Hulk's picture

+1568 CD. Buy another one. I'll even pay for it!

Cognitive Dissonance's picture

I just did. That will be $2,486.66 please.

No checks. :>)

Hulk's picture

Whoa there big fella... $2,486.66 ??? Pennies OK? Interesting that number of the beast thing you got going...

Cognitive Dissonance's picture

Sorry. I let greed get the beast best of me. :)

RockyRacoon's picture

You paid what?   Better lube-up the next time you buy from that dealer.

I just bought me one o' these for the hell of it:

2011 American Buffalo One Ounce Gold Proof Coin (BU4)

Price: $1,810.00  
Cognitive Dissonance's picture

I was trying to rip off the Hulk. He's not as dumb as he looks.

Why do I always find the smart suckers? :>)

Bananamerican's picture

Price: $1,810.00 

sheeit....that's Paul McCartney money

RockyRacoon's picture

It was spare cash.  Never hurts to hold a little numismatic coinage.  Besides, I've never regretted my buy prices since 1995 when I started accumulating the PMs.

Atomizer's picture

FOMC minutes must of been leaked.

nope-1004's picture

Ya, of course.  JPM et al. bid it up in advance, and monkey hammered it down previously.

They know QE3 is coming, and this shit about "some FOMC member thinking about QE3" is another way to get the toe wet before jumping in so PM's don't go parabolic.

All fed members know QE3 is coming.  They all know the plan.  The governments role is to manage public perception and not create hysteria, so "a few" members think QE3 is warranted.  Next week, a few more.  Next month, a few more.

Otherwise silver and gold go straight up.

In the interim Blythe beats it back down.

Ponzinomics, my friends.  Know that our government is a fascist kleptocracy.

 

goldfish1's picture
For those who wish to be precise on their interpretation of the new norm.

Definition of FASCISM

: a political philosophy, movement, or regime that exalts nation and often race above the individual and that stands for a centralized autocratic government headed by a dictatorial leader, severe economic and social regimentation, and forcible suppression of opposition

Definition of KLEPTOCRACY


: government by those who seek chiefly status and personal gain at the expense of the governed

Bananamerican's picture

no no no

"Fascism should more properly be called Corporatism because it is the merger of state and corporate power." -- -Benito Amilcare Andrea Mussolini born: 29 July 1883 – lynched: 28 April 1945) was an Italian politician who led the National Fascist Party and is credited with being one of the key figures in the creation of Fascism