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Wednesday Open Thread: Spot Gold: 1080.00 Silver: 19.00
...and... BEGIN!
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is today the day the dollar died? just woke up and saw that it painted 74.40.
Not yet, until silver is over 30.
Wasn't 1913 the year the dollar died? Or maybe it was 1971? Or maybe it's 2009? I guess when something loses 95% of its value over 96 years, it is tough to pinpoint the day of its ultimate demise.
Modulus of elasticity effects on the dead cat bounce.
ssssplattttt
bye bye miss american pie
2 movies tickets? that will be $250 please.
h y p e r i n f l a t i o n
http://www.youtube.com/watch?v=eZA0qNsf4m0
"bye bye miss american pie"
Drove my Chevy to the levy, but Chevy was bankrupt...
Thanks Marla! I love a royal rumble!
LOOKS LIKE MONDAY WILL BE A BANK HOLIDAY! WOOHOO!
Uh! Marla! Have we been sipping the Thanksgiving brew a tad early? Spot gold is $1180, not $1080.
Uh... what? Huh? What do you mean? (Thanks!)
Title's fixed, body still needs work (your original post for sure... and, contrary to my imagination, possibly your physique too).
on the link you say $1180 but in the description you put $1080 just a typo that's all...
Marla got a new job at the Fed's ministry of progaganda.
Normally I would never say to take a cold shower, as it causes shrinkage. But you are clear to go on that concern. :)
Happy Thanksgiving to all y'all
I don't care.
Why? Because I bought gold (physical gold) as an insurance, and not as an investment.
But the nice little profit does not hurt one bit, if I may say so myself.
What is this profit of which you speak? If it merely preserves your existing purchasing power, does the change in nominal amount actually mean a profit?
Re-read what I said: insurance, not investment.
There is a difference between these two words.
And what makes you think my main source of income is in US dollars? There are other currencies in this world, you know, and some of these are even appreciating in value.
lord laVey just hit a very sensitive nerve to us americentrics.
perhaps the real bubble is america itself.
We will profit from the overshoot in the value of the insurance policy. That's why it's wise to have some to keep, and some to sell.
And the fact that it is wayyyyy undervalued right now.
GOLD BITCHES!!!
I am Chumbawamba.
To quote rusty. Have you not been paying attention. The titanic is sinking. You do not profit from your lifeboat. You simply row it.
+100
You profit when the hundreds of Trillions of paper "lifeboats" catch on fire and the Captains all look for a spot on the Golden Island.
But that puts you right back on the titanic feverioushly bailing water. Someday somebody has to throw the ring entirely into the lava. Why try to profit from corruption when it's weak when you can end it once and for all.
There's obviously been some erasing problems. People are remembering trouble and responding differently.
http://www.emotionaliching.com/myweb/lofting/010101.html
Erase harder. I'm sure people won't remember next time.
General Public-Hand to Mouth-In Conversation
in conversation in conversation in conversation
in conversation, your mind is acting now
to take what's coming could make you change your mind
piece of the action, look who's in pieces now
it turns me 'round and around
i'm struggling, i'm waiting, watching for the sidelines
it's obvious i'm chasing, there's got to be an answer
distraction takes over when i'm deep in conversation
i'm looking & learning
that my heart is running faster all the while
when i say i'm sorry, it's not that i'm afraid
guess i'll have to guess again
one day it happens, next day it's all at rest
who made this happen to me?
i'm struggling, i'm waiting, watching for the sidelines
it's obvious i'm chasing, there's got to be an answer
distraction takes over when i'm deep in conversation
i'm looking & learning
that my heart is running faster all the while
in conversation...
in conversation, our minds are acting now
let's ask those questions again
whay am i angry? why am i doing this?
i made this happen to me
i'm struggling, i'm waiting, watching for the sidelines
it's obvious i'm chasing, there's got to be an answer
distraction takes over when i'm deep in conversation
i'm looking & learning
that my heart is running faster all the while
aahh aahh aahh aahh
in conversation in conversation in conversation
God's just going to have to find a way get around my obstructionist ways or he's going to have to stop being psychotic and I'll stop giving him psychotic breaks. I want me some equality. I want me some security. I want to make an honest living. I do not want titans. I do not want kings. I do not want monopolies. I do not want too much faith for some and no faith for others. I do not want righteousnous so that you create wrongness and beat them up. I do not want to choose between being a microsoft fanboy or an apple fan boy, McDonalds or Burger King in a world that boasts it's infinite creativity. I do not want false illusions of competitive where the stronger trample until the illusions start breaking down and then back off till attention gets diverted away.
Offer me a high place in the battle station. Offer me the highest seat. The chiefest post. I'll be asleep OUTSIDE on the park bench.
http://www.metrolyrics.com/outside-lyrics-the-fixx.html
Stupid may be a strong horse and you may be able to ride it far. But everything has its limits. I know because I'm outside and I'm making them. I am Jacks melanomia riddled skin.
We can assert with certitude that the universe is all center, or that the center of the universe is everywhere and the circumference nowhere. Giordano Bruno, Della causa, principio ed uno, V
Inside outside the worlds continued repulsiveness makes the universe expand. I'll be right next door but you'll think I'm too far away to even bother calling. You'll project your sense of self onto me because you won't even be able to discern outside from inside when I'm outside criticisizing. You'll call me betrayer and think me outside when I'm inside sympathizing. The person who will NOT integrate good and evil and take good with bad is the problem. I'm going to be your toughest row to hoe. This I promise.
"... I need not instruct you of my belief. Time gives all and takes all away; everything changes but nothing perishes. One only is immutable, eternal and ever endures, one and the same with itself. With this philosophy my spirit grows, my mind expands. Whereof, however obscure the night may be, I await the daybreak, and they who dwell in day look for night ... Rejoice therefore, and keep whole, if you can, and return love for love." -G.B.
beautiful treatise heph.
somewhere giordano is rejoicing while awaiting another day to break.
i read some scientific study once that claimed that it takes a human being an average of 7 times to be conscious of a habitual mistake before the habit can be broken once and for all. i always wondered if the same could be true of the collective consciousness.
you gave me the inspiration to throw the ching this weekend. thanks.
Here's a question about gold for anyone here who knows more about this than me. I was engaging in some speculation at my blog earlier today. http://cephaloblog.wordpress.com/2009/11/23/size-doesnt-matter/#comment-...
I keep seeing people commenting on financial sites that they are doing just great because they’ve invested in gold recently and I have a question about that. I’m sure that many people who own gold actually go somewhere and physically purchase it and have the actual gold. But I don’t believe that’s always the case. If all you actually have is a line in an investment portfolio somewhere that says you bought x amount of gold, how can you be sure that you are the only one who actually owns this gold and the same gold hasn’t been sold a few times over? We’ve already seen rampant naked short selling where stock certificates are never actually delivered and the market gets flooded with counterfeit stock. So how can we be sure something similar isn’t happening with gold?
There is obviously a huge demand for gold right now and the dollar isn't doing so hot. Now the dollar tanking is deliberate to a great extent since some inflation allows debts to be paid off easier, but the oligarchs are playing a risky high wire act because they don’t want the dollar to tank too much or inflation to be too high. The banksters are doing everything in their power to keep the system afloat and make sure there aren’t bank runs. So flooding the market with fool’s gold would seem to serve their purposes – they can profit from brokering the growing number of trades in gold and at the same time it keeps the price of gold from rising too high and the dollar from sinking too fast.
Just speculation on my part but I definitely wouldn’t be surprised if some of these gold investors wind up holding pyrite instead. If that’s the case, remember you heard it here first!
So is that scenario completely out in left field? Is there any way to chart what the value of the dollar should be and compare that to what the price of gold should be if the dollar were valued accurately?
And people I work with thought the day before Thanksgiving was going to be "slow".
Wheeeeeeeeeeeeeeeeeeeeeeeeeeeee!!
calling on GG, chumbawumba, lonestarhog, anyone........Is there still time?...........My buy and hide (PM's) strategy is working quite well but at what price point, oh one wonders, should I stop buying and just hide?
When dow and gold = 1/1 ?
Yeah, I would start selling then, but only in exchange for some other real asset such as land etc., not paper money.
If you sell any gold at this point it should be to buy silver. I don't care if you have to go homeless (if only termporarily), don't fire until you see the white of their eyes, and DO NOT SELL YOUR GOLD.
Gold is cheap says 2012 Chumbawamba from the future. Keep buying.
THE ONLY BUBBLE HERE IS IN PAPER "ASSETS".
I am Chumbawamba.
look out when silver catches up whenever that day comes....
lookout....
yeah, there aren't enough comments about gold here
Complaining about gold comments on a gold thread? Allow me to kick some metaphorical sand in your face, wimp.
I would have written "let the cutting and pasting begin . . . now!"
(least we don't have to pretend to have read some posted materials before regurgitating the same talking point, ad infinitum)
Hint: Freedom of Choice...Go read another thread!...Simple, huh?
GOLD BITCHES!!!
I am Chumbawamba.
Gold is a nice straddle on my 10s.
How's that?
Debt levels are already untenable and are worsening. Until that is dealt with globally, and particularly in the US, bullion is going higher as FIAT currencies are being debased at an accelerating rate. The FDIC is broke and the IMF claims over half of bank losses are being deliberately hidden. Besides the obvious question of.. ahem, why is no one in jail for deliberate reporting fraud if what the IMF claims is in fact true, after we connect these two dots, where does the money come from. Answer: Printing Press. Otherwise, do we really believe the FDIC will let depositors go without. There would be millions on Pennsylvania Ave if they did. D.C. and NY know this, hence the slow and gradual debasement of the currency. Bullion is going higher. Not in a straight line, nothing ever does, but it is going alot higher.
Debt levels won't be addressed. We aren't going to cut spending or raise taxes. It's a race to the fiat currency bottom.
When they touch down, we'll blow the roof, they'll spend a month sifting through rubble, and by the time they figure out what went wrong, we'll be sitting on a beach, earning twenty percent. -Hans Gruber
No, debt will not be addressed. The only feasible way to get out from under the massive debt load that exists is to inflate our way out of it. The death of the dollar will destroy the current world order and allow a new one to emerge...
Let's make this perfectly clear-- there are a handful of feasible options available that deal with debt. The US is inflating it away because it is the most desirable strategy out of a number of undesirable alternatives.
Bernanke can keep the printing presses going, and assure that the dollar is going to hell in a handbasket-- or he can stop and force financial institutions to take the hit (and some will go bankrupt).
Or he could even up the craziness factor by annoucing a bank holiday and doing the mother of all devaluations. Or even crazier, he could announce a sovereign default on AAA debt.
Again, these are feasible-- they're just not desireable. We are entering the undesriable phase.
wait till the delivery notices start coming in next week.....and then there's the "problem" of the tungsten bars.....
so, will the Comex deliver, and deliver legit product?
only the shadow knows....and jamie dimon and the vampire squid's glowing red brain, lloyd.
Hmmmmm...Why did I see Denninger running into a local Florida coin dealer this morning with his mattress?
+100!
He still does not like gold.
But he'd never admit publicly that he did, or at least, provide a perfectly sound reason why it still in no way indicates he was wrong about call on gold not taking off or the dollar gaining in strength. LOL.
Now that's some funny shit. Thanks for starting my holiday weekend off right!
To Karl:
GOLD BITCHES!!!
I am Chumbawamba.
There is no stopping it now... even when the USD is attempting to show some strength (I should emphasize attempting) gold still continues on its path. Up and to the Right.
Not to state the obvious, but this is a potentially dangerous situation. A currency collapse could happen in hours.
I'm glad I have some physical PM's. Eveyrthing else would likely be worthless.
Uh... yep.
Look out for currency collapse... or exactly the opposite... a dollar bounce to the heavens, depending on the Fed's next move.
Doesn't the timing of the Bernanke confirmation and the currency war developing time nicely. BTW, the Chinese vote "NO" for reappointment.
Marla, off topic, but what's the deal with these promotional pieces disguised as articles from gold and penny stock pumper "Casey Research"? A number of people have noted that the guy "interviewed" in the most recent promotional piece (which is also posted on low rent investing websites all over the web) is paid by the companies he recommends in his stock "research reports". ZH should be better than that.
"ZH should be better than that."
+1000
And whats up with the Neilson Reaserch pop ups?
Seems like somebody is breaking the first two rules.
OK...It has been widely known that India and a few other countries have been intent on buyng IMF gold. Why does the rise in gold price surprise anyone? If you know there is a buyer.....of a large position out there....why not front run it. What we have here is not a supply and demand issue...but purely a demand issue. If someone is demanding to buy it...they are will to buy it at a higher level. Once the IMF is done selling their gold.....How much higher do you think this baby goes????
I call TOP in the gold market the day India is done buying.
Thanks for a GREAT pre-Thanksgiving laugh!
+Fibbonachi sequence
I am Chumbawamba.
Hey clown, I thought clowns were supposed to be funny. Say something funny, clown. Make me laugh clown. You stupid clown.
I think then you should take this opportunity and short Gold 100% of your networth. Report back this time next year how that turned out for you.
Probably the new BOTTOM
Today is the last Dec Comex Gold trading day. The open interest is about 122677 at this moment.
hey y'all check out mish shedlock posting under the codename "martijn" on fofoa blogspot. so funny if it aint so sickening. made me puke.. almost aspirated when i started laughing
re-Au... seems as though we have ignition of boosters, no liftoff yet!
obstreperous Al
.....what is the least crowded trade right now??
Least crowded? Bonds / T Bills? i hear there are none out there for purchase, as they are as rare as Barack Hussein Obama lying or breaking a campaign promise.
ROFL!!!!!!!!!!!!!!!!!!!!!!!!!
Well, since only about five percent of the public is invested in gold/silver, the answer is obvious and has been for nine years running.
Well the most crowded trade in the world is definately long USD. Wait till the central banks decide to stop out their positions. Will be a nuclear bomb compared to the peashooter effects of hedge funds deleveraging in 2008/early 2009.
Actually, the most crowded trade in the world is short USD, which is effectively the position of anyone with a large amount of debt, or large amounts of their "savings" in stocks and bonds, not to mention over-caffeinated and overconfident carry traders.
Where are these people sitting on mountains of cash that the goldbugs keep pointing to?
Well, those tankers parked off the coast pregnant with light sweet crude aren't going anywhere soon, and they sure as hell aren't doing it for free. Eastern European girlfriends doesn't come cheap these days, especially with the dollar being what it is, and bossman has started guarenteeing returns for his customers. You can't even run an underground casino without your prick judge of a father getting all uppity about public image or your bullshit friends skimming off the top. There's no honor in taking that after school job at Mickey Dee's, either you're slingin' rock or you got a wicked jump shot.
What's a 19 year old meth addict from Greenwich, CT supposed to do, sit idly by and let market fundamentals take over?
Pishaw!
I see no end to the debasement. All you can do is warn people and hope they listen.
http://www.hahastop.com/pictures/So_Pissed_Off.jpg
Thanks for that chuckle.
Setting the bar. Setting the bar.
That was hilarious.
a dollar colapse would boost earnings in europe trading for the first 3 months and would seriously damage the chinese exporters.
and gold is worth nothing in my eyes because there aren't many currencies who are still backed up by it. Gold is now a consumer good and thus will implode as soon as the rush starts stalling ;)
GOLD BITCHES!!!
I am Chumbawamba.
Gold might go a lot higher most think possible.
Bubbles and manias
---------
The crash of the US Dollar is no small event.
Unreal! I get pissed when I see the price of gold/silver go up because I know Zimbabwe Ben just stabbed the dollar in the heart again. Hell I'm all in on gold and silver and I pray that PMs go down. To bad I couldn't talk my employer into fixing my wages in gold...
Hell I'm all in on gold and silver and I pray that PMs go down.
My thoughts exactly.
"...couldn't talk my employer into fixing my wages in gold..."
you mean, you actually tried to?
"...couldn't talk my employer into fixing my wages in gold..."
you mean, you actually tried to?
Is it a bubble if everyone is saying it is?
I worked for JPM and I remember when oil was >$100 we were going to Delta, UAL, CAL, etc. and trying to persuade them to lock in hedges. In other words, at the time, we weren't thinking oil was a bubble but was here to stay. The same can be said for the housing bubble. The majority of people were convinced it was going to infinity.
With every move up in gold, the word "bubble" becomes used more and more and skepticism of it grows. For those skeptical gold bugs outhere, remember that this is EXACTLY the type of reception you should have expected when you initially bought it. Surely no one could have expected gold to creep up to $2,000 without CNBC, Drudge, Mom's, Dad's, et al catching on. Face it, your contrarian call has now turned into a momentum play.
Yes there will be a pullback if/when the DXY reverses. But that could be 20% from now, putting the reversal back to where we are today.
The floor has been set. Even if it drops to $700, there isn't much out there which will make me want to panic sell my holdings. It would take a seriously desperate response from the U.S. government to do such a thing and at that point I don't think I'd want to convert my gold back to dollars.
What I suspect is that the time to convert our gold back to US dollars will never come.
I hope I'm wrong.
what is so difficult for the bears to understand? out here in asia gold and silver have always been money, always will be. every shopping mall has a gold shop, what more is there to say?
wish there was more room beneath my matress
Just saying there's gonna some mighty dissapointed folks when the world as we know doesn't come to an end tomorrow.
http://www.2think.org/hundredsheep/skeptic/predictions.shtml
Funny how discussion of the sure-thing upcoming gold rally to the moon sounds like the religous right talking about the rapture. But then again, maybe I just have a tin ear.
Gideon Gono, hyperinflatorPosted by Sam Jones on Jan 27 08:48.
Quote (or rather quotes) du jour from Newsweek’s interview with Zimbabwe’s central bank governor, Gideon Gono:
I sit back and see the world today crying over the recent credit crunch, becoming hysterical about something which has not even lasted for a year, and I have been living with it for 10 years. My country has had to go for the past decade without credit.
I printed Z$1.5 quadrillion, but the exchange was operating with Z$100 sextillion.
I’ve been condemned by traditional economists who said that printing money is responsible for inflation. Out of the necessity to exist, to ensure my people survive, I had to find myself printing money. I found myself doing extraordinary things that aren’t in the textbooks. Then the IMF asked the U.S. to please print money. I began to see the whole world now in a mode of practicing what they have been saying I should not. I decided that God had been on my side and had come to vindicate me.
Caveat lector: Mr Gono, as well as being a skilled printer of banknotes, is also a highly qualified dissembler of information.
http://ftalphaville.ft.com/blog/2009/01/27/51708/gideon-gono-hyperinflator/
Rare Earth Elements will out do
Gold Silver 20 -1 the next 10 yrs
and won't be sanitized or confiscated.
How can one get invested in the rare earth elements?
http://jessescrossroadscafe.blogspot.com/2009/11/gold-is-rallying-becaus...
short and sweet and bang on!
Yep. I have to say I have had a man-crush on Jesse for a long time now.
I love that on the Yahoo Finance page there is no market update for Gold under the "Market Summary" and no mention of gold in their news stories, either.
Watch out!
"Brazil" zentral bank to buy dollars (Swap arrangement).
= Silver gets pounded for one of the last times.
So, if one wants to jump into physical possession of PM's, with an eye more on silver than gold, what's the best way to do so?
Sovereign coins? (And which ones are the best?) Bars? Whatever that junk/shot stuff folks seem to be selling by the bag?
Coins. Lots and lots of coins. Different sizes (small, medium, large) but always well-known and of a good quality. Kazakstan coins may be interesting, but French, Canadian, American, South African and British coins - well-known coins from a well-known country, in other words - will be much easier to use in the future.
Buy from a reputable dealer only and store it in your own house, in as safe a place as you can.
Coins are better than bars because (a) they are easier to hide and (b) when the time comes to use your PM "insurance", they will be easier to trade for real goods than bars.
And they are easier to put in a bag in case it gets really, really bad, and you find yourself having to leave in a hurry. It's surprising how so much money can occupy so little space.
My thanks to you, good sir.
From Jim Sinclair's site:http://jsmineset.com/
Jim Sinclair’s Commentary
CIGA JB Slear, the gold delivery man, shares his views.
Jim,
Here’s a quick update on the December COMEX open interest; Last week Monday, we had over 295,000 contracts held overnight. As of today’s data, there are 193,660 held overnight. Tomorrow is the last trading day for Dec Comex Gold, Monday next week will end the month of November, by then all open interest in December gold would stand for delivery (of course there are legitimate hedges in there too). December ’09 might be like December 1979.
Happy Thanksgiving.
JB Slear
Fort Wealth Trading Co LLC.
A while back the Rothchild's announced they where exiting the gold market.
What I want to know is who believed them?
Who here isn't aware that the Queen of England is actually worth trillions through front company holdings? Monsanto?
Prince Charles sits on the board of directors of the top 100 largest corporations in the world, and the royal family is worth only 40 billion?
RiiiiiiiiiiiiiIIIIIIIIIIIIIIIIIIIIIIIIIIIIIGHT.
That's why they need Rothchild as their personal financier and banker. Because Bill Gates has more money than the Queen of England. RiiiiiiiiiiiIIIIIIIIIIIIIIIIIIGHT.
That's why the Vatican's personal banker is Rothchild, because they have so little money.
RiiiiiiiiiiiiiiiiiiiiiIIIIiiiIIIiiIiiiIIIIIIIIIIIGHT.
Do as the rich do, not as they say.
Rothschild is the Vatican's banker? Now, that is something new. Especially since... er... he is Jewish.
Please do us a favor and google for "Istituto per le Opere di Religione". And stop posting that kind of bull until you have gotten an education in, let's say, reality.
Then again, I am just your friendly neighbourhood Satanist, so what do I know?
what's going to do better than gold? Try junior exploration gold miners. The seniors are all topped out and will have to buy explorers to just keep extraction rates constant. Look for near or starting producers like <no talking book here please;-)> or your favorite small timer du jour. I'm serious-anyone look at the chart of Homestake mining in the 30's to 40's? Makes GOLD appreciation look mediocre.
Of course, this is nominal price of gold. Nominally priced in useless currencies like the dollar. And if the dollar goes down in flames, so will the stock market and the country.
In other word, you are advising everyone to invest in promissory notes and IOUs issued by junior companies, very often with gold production still a long time away, all of this being backed by a fiat currency? Interesting, to say the least.
Can I interest you in some Lehman Brothers stock? Jim Cramer told me once this is the kind of company that can only go up.
The problem with investors is perspective. We've had this 39 year flirtation with fiat money ever since Nixon slammed the Gold window shut on the grimy French's fingers in '71. Of the entire span of our country's existance, fiat money has only been in place for a fraction of the time. The continental was dstroyed, the dollar will be too.
Much more important than talking about Gold which any 9 year old looking at a LT chart can see is in a bullmarket is talking about when we get exchange controls, and what to do about it. Obambi can't let you take your money and run. They've already gone after wealthy tax cheats, when the deficit doubles again, they're coming after me and you. After all, you gotta pay your "fair share".
Grimy French fingers?
"There can be no other criterion, no other standard, than gold" announced French president Charles de Gaulle (Feb. 4th 1965).
See: http://www.commoditynewscenter.com/articles/Insight/Smoking_Guns_&_Monet...
Methinks the General had a point. He was worried at the time at the level of debt the US had. It took 40+ years for the US to verify what the General said. Think of it as poetic justice.
Reminds me of that saying by that other Frenchman, Voltaire:
"Paper money eventually returns to its intrinsic value -- zero."
Yup, I think those grubby Frenchmen may be onto something after all. And they do have the 4th or the 5th largest gold reserves in the world, after all. Wanna bet the "lingots" of the "Banque de France" are made of the real stuff, and not 90% tungsten?
How well could the government do by minting tons and tons of gold coins at current prices ...and then confiscating the lot?
Do I believe there's some unusually brisk pricing action? Yes. Do I think gold is in a bubble...no. There aren't enough participants to be in bubble territory. And I think it has a ways to go before becoming bubblicious.
The value of gold isn't necessarily going up, it could just be that the value of other things are falling. When I look at it that way I get worried that I don't have enough gold.
If you and me buy a bottle of whisky between us and then go home and start bidding up the price to buy one another out, we are in a bubble. During the bidding process it might seem like we are getting richer as our share of the bottle goes through a market value of $100, $500, $1000. The bubble bursts when one of us walks away and the other is left with some very expensive liquor. A bubble does not need 100% of the American/world population to be bought into the market for it to be a bubble.
but it does need lack of correlation between price and value.
if your whisky was the last bottle on earth, it's likely that a price of $1000 is a bargain.
the silver market is tiny. only about $5bil including the miners, if demand increases 1% poof, supply will all be spoken for. poeple focus on gold, but silver is the achilles heel in the pm market. its fast becoming a rare earth mineral. IMO ( no, I don't work for casey research)
the bankers are the house. they are the riggers of the game. Antal Fekete( www.professorfekete.com lots of good reading there) said " for the entire modern era of gold production there has been about 2500 tons of annual production and all of it has dissapeared into private hoards without the price going up. For any commodity with such demand pressures the price would go up but gold never wanted for a buyer." So who are these private hoarders that have been massively long for 30 or 40 years. All the currencies will crash, whatever the new currencies will be (Amero whatever) will confiscate the remaining savings of the middle class. It will be like the revaluation of the ruble 100old:1new with no change in retail pricing. asset prices will crumble, maybe there is even a second new currency because the first one sucks. But in any event the guys with the gold will come in and buy the world and those people with debts will become debt slaves. this is an engeneered take down. keeps the bankers in power too because they keep saying " we didn't see it coming". when comex defaults on delivery methinks 25-3500 veryquickly. ebay will become the unofficial spot market priceing mechanism. the higher the price of gold goes eventually the lower asset values crash because these are distress sales with so few buyers. the greater the advantage to the purchasers who know what they are doing.
anybody still believe the banks/insiders are short. the only reason to be short now is to bankrupt a public company after looting the till and stick the taxpayer with the mess.
not to rain on anybodys parade, but there is plenty of physical gold to dump on the market, to suppress price. the massive naked shorts could be a trojan horse. there is enough evidence to indicate a substantial shadow inventory of gold, not reported in official figures. never underestimate an adversary, who could destroy your wealth. this goes beyond greed and lust for power, its a disease, these bastards would steal the pennies from a dead mans eyes. on a brighter note, there is very little physical silver available, to dump on the market, and our appetite for electronics, assures a continued consumption rate, beyond current production. why wouldn't you sacrifice a chunk of your gold holdings, if you knew you would get it all back, without giving up what you purchased with the gold. this isn't checkers, it's chess, and the stakes are high.and we're late to the game.
...but wouldn't selling gold be an admission by the Fed that gold is indeed a store of value?
I don't doubt that they have strategies for maintaining power...but there has to come a point where reality comes into play...? Maybe I'm not being cynical enough though.
I don't doubt that they have strategies for maintaining power...
Like maybe another war? (Iran) or escalating another war? (Afghanistan)
And, pray tell, how are they going to pay for yet another war?
By printing money, perhaps? Yeah, right. That's gonna work real good.
my bet would be africa. china is gettin way too chummy with those resource rich machete wielding monsters. after we get them to decimate each other,with help from the weapons we sell to both sides, we will betray our allies, and go in for the kill, install good little puppets, who nullify chinese contracts, and nationalize whats been developed. we'll tell china to take it up with the U.N. and maybe for a kicker we'll use H.A.R.P. to cause another earthquake in eastern china.all in a days work, for the globalists.plus, too many of those darkies are muslims, that must mean they're bad .rally around the flag, we're off to save the world, and we can't even save ourselves.