Before the Tape: 9-13-11

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Wed, 09/14/2011 - 13:13 | 1669173 americanspirit
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"It’s appropriate for Japan to make a contribution as a leading nation to increase trust in the deal."

Leading nation!  Hahahahahaha - stop, you're killing me! Leading Nation. hahahahah

Wed, 09/14/2011 - 12:42 | 1668984 steve from virginia
steve from virginia's picture

Phoenix Capital Research doesn't know whether gold is going to correct or not.

Phoenix Capital Research may or may not know what is happening now, under its own nose. This is flight out of euro to ... remaining safe havens.

Nobody wants to be caught large w/ euros, so who are the buyers if not Swiss bankers? Someone is loading up on euros and getting a better price every day. Maybe, racketeers and black market 'banks'. Mafias are needing euros to sell to Greeks and others desperate to buy gasoline and diesel fuel priced in euros. The old high-finance shadow banking of derivatives is being replaced by shadow banking of black markets and loan sharks.

Millions of Greeks (then the other PIIS) are needing euros at very high price in gold and dollars. Krona look good too but the savvy Norwegians make it hard to get krona. They have a good thing going called North Sea Oil Fields and won't sell their crude cheap (by selling their currency cheaper).

Demand for dollars in the EU equals demand for gold so buck price is not be the best guide for gold demand, which is what matters. The money trade is built around big institutions trading electronic cash. Liquidity requirements are best satisfied by currency rather than metal.

 

Wed, 09/14/2011 - 12:07 | 1668834 augmister
augmister's picture

I don't think the gold correction will give anyone here worries.  Gold under 1600 is a rip-roaring buy.  Will we see it?   Who knows?   The most important factor is to have the means to buy it at this price.  

Make your plans now!

Wed, 09/14/2011 - 11:30 | 1668701 scrappykoala
scrappykoala's picture

Is it me or does it seem like some big players are buying time. A little here and a little there but the writing is clearly on the wall. If America the big fat (yes we fat) consumer can not buy then game up. And we are credit maxed out so if we are not buying then it doesnt really matter because there will be no recovery any where. But we can still max out a credit card here and there (china) I guess but in the end .... its the end.

Wed, 09/14/2011 - 10:41 | 1668450 Overflow-admin
Overflow-admin's picture

Silver Shield ready.

Wed, 09/14/2011 - 10:35 | 1668424 anony
anony's picture

Phoenix Capital, MFHFT posting their tripe with too much regularity, too many notes.

Put these two in the penalty box for Q3 and Q4.  They need to take a rest.

Wed, 09/14/2011 - 10:30 | 1668401 Robslob
Robslob's picture

Save your money for the gold correction...it will be the last chance to load up compliments of stupid Central Bankers & Governments Globally!

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