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Gold Touches 2012 Highs
Spot Gold just jumped above its February 2012 highs to trade at $1791.45. This is the highest since November 2011 as the precious metals continue to outperform stocks post-QEternity.
Chart: Bloomberg
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Did NOT see it coming.
I am deeply concerned about some of the gross inequality in investment performance among retail investors. While some portfolios have experienced 6 figure percentage gains, others haven't been so lucky. The disparity in returns across investment portfolios is estimated to be at an all-time high, with the very top portfolios earning in excess of 200% annually, and some of the least fortunate portfolios losing 50% or more of their equity. We urgently need to address this imbalance in America or we risk creating a society with a small group of elite overlords with consistently positive investment returns, while ordinary average Joe's continue to lose money in the markets. This is why I encourage congress to consider the "Equal Opportunity in Investments Act" (or EOIA), which introduces a windfall tax on annual profits in excess of 20% of account equity. At the end of each tax year, unfortunate investors will be permitted to claim a refund for any loss in excess of 5%.
As long as we get to re-distribute your million dollar bonus as well...
Dude.....leave MDB alone. Can't you see he's deeply concerned?
MDB, if a person was really concerned, they would focus on the central planning (cental banking) that results in the current disparity in wealth as opposed to a (centrally planned) tax on investment profits.
That would end the circular reasoning circle jerk; and they are having so much fun.
best troll parody ever!
did you get your obama phone yet?
I checked the UPS tracking......should arrive tomorrow.
Slow Clap
Yeah, like 100 in the room with 5 doing just that.
Yes, while MDB's clap makes him pee slow, silver is a wdonerful cure....Oh wait....a slow clap of applause. I gotcha. Carry on.
been working on that one for awhile haven't you?
So what you are saying is that I can put all my money in Apple puts and if Apple doesn't blow up I can recoup my losses? Hmmmmmm bet it all on black baby!
You can only recoup annual losses in excess of 5%. So for example if you were to lose 15% on apple puts in a single year, you would be refunded for 10% of your starting acccount equity.
Would I get a free iPhone and a Terminator 2 poster too?
In the spirit of Obama, I strongly suggest that your proposal be recast from Equal Opportunity to Equal Results. All investment income should be accumulated into a single government program and redistributed equally to all people residing in the US. That's the only fair way to truly spread the wealth around. Don't be so half-hearted in your recommendations.
exactly. How can anyone be truly equal when other people are making better or worse returns or more or less income? For Christ's sake, why do we allow some people to be 7 feeet tall and play basketball or 6"7 and 320lbs and play professional football? It's completely unfair. All those bigger and smaller than the perfect size should be exterminated to level the playing field for normal middle class people!
"...We urgently need to address this imbalance in America or we risk creating a society with a small group of elite overlords with consistently positive investment returns, while ordinary average Joe's continue to lose money in the markets."
We're already there. That small group goes by the name U.S. Congress.
no need to tax it, just bail out the losers using newly printed money.
If you're going to go full retard, go full Krugman.
I did, her mouth was wide open and squinting eyes yeeeha
I'm calling top -- when I see it that is ;)
Gold is going vertigo!
Just imagine if the Fed fools put their $85 billion a month of QE3 counterfeit into precious metals.
Maybe it would work ... ;-)
Barbaric relic!
I know a great tailor.
Does your tailor know Chuck Munger?
Gold bitchez!
Chuck the Fuck Evans needs to speak to Steve The Perv Liesman daily on cnBULLSHITbc - gold will hit 3k without much resistance.
markets are orgasmic....when ben prints its like sex......when evans speaks its like dirty sex......................
The only question is, when does this insanity cause gold to start rising in $100 increments and silver in $5 increments when these stupid rumors are dropped.
We will eventually get there but not for a while. Now is the time to accumulate. When you start seeing those huge leaps up that will be when the shit is hitting the fan and then it's mostly too late.
Got me a few more this morning at a very nice price.
gold & silver already did that in 2011. Why worry? It doesn't matter. Silver can't stay down long while gold rises. Gold CAN'T avoid rising long-term because long-term and short-term the fiat currency + bond market cluster-fuck is truly destroyed.
when evans speaks its like dirty sex......................
He is a silly bugger, isn't he?
Who could have known? Who could have possibly known this would happen? Who?
Are you speaking of the Ryder Cup. Wasn't it fantastic? And the class of Phil Mickelson and, at the last, the honorable concession of Tiger Woods...truly a gentleman's game.
Ole' to Seve and the European team and captains. Ole'.
I hate that Ole song, always sung by a bunch of greasers.
"Who could have known? Who could have possibly known this would happen? Who?"
The programmer who wrote the algorithm. Everything is on purpose, Think like a criminal.
It's momentum-driven, data-driven, exceeding the capacity of all computers and all programmers. It's the market itself. It's reacting to the fraud & corruption acting within it, like a giant hive-mind. It has a repeating pattern of restoration, like homeostasis. Take a look and think about it.
2011 dec 27 gold 01 | goldpricemodel | 277 week ROC visual confirmation
I knew. Just follow my charts and it shows months ahead of predictions for gold spot & how to do it yourself - free of charge.
2011 dec 27 gold 01 | goldpricemodel | 277 week ROC visual confirmation
2012 09 18 277week roc 01 | goldpricemodel
Roubini Says Rogers’s $2,000 Gold ‘Utter Nonsense’
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aOfwpkHV2clM&pos=5
Roubini makes another great call
“Maybe it will reach $1,100 or so but $1,500 or $2,000 is nonsense,” Roubini said.
Great call Nouriel...
LOL. We heard all that at 500, 850, 1000 and 1500. Gold is going a lot higher than $2000.
This Golden Bull will stomp everything in sight in due time. Sinclairs 3500 target seems rather conservative now considering QEternity.
The problem is that everything we consume will be rising as well. At least we'll hold on to our purchasing power with metal.
What will milk and gasoline be per gallon with $3500 gold?
That is assuming gold and silver are not at present manipulated downwards by the establishment.
Oh sorry, that's just tinfoil talk.
It's hard to manipulate when you don't have the real thing while more and more parties demand delivery. It's hard to keep power if you don't use the printing press to keep key commodity prices in check via manifold subsidies, thus surpressing the price of milk and eggs. All roads lead to gold. It's hard to brainstorm any circumstance right now that ISN'T bullish for the money metals.
What will milk and gasoline be per gallon with $35M gold?
After listening to the Evans interview, I should raise my target...
What will milk and gasoline be per gallon with $35Q gold?
Let's see... if gold is $35,000,000,000,000,000 an ounce, I expect gas to be $1,000,000,000,000 a gallon. A $1T bill with Obama on front...better known as an ObamaBuck.
The price of milk will remain fixed at slightly under $4.00. Finding any on store shelves will be a problem, though.
Forget gold, maybe we'd better buy a cow ...
Think long term. Buy a cow AND a bull.
"What will milk and gasoline be per gallon with $3500 gold?"
What was milk and gasoline when gold was $900?
Gasoline prices, like gold, are manipulated. Milk producers are going broke because they can't afford to feed their cows.
Another technical breakout approaching
Silver also north of $35. I wasn't aware Blythe Masters is on vacation this week.
That bitch should DIAF and be raped before doing so already.
Watch the $36 smack down with awwww. Blyth may be on vacation, but she still has an app for HFT naked shorting of the paper silver market. She just needs to finish her draw something competition with Benny.
It's possible but I think the 'real limit' the Fed will allow is $50. Once it goes to 50, the phantom shorts flood (drown) the market. If it goes north of 50, confiscation will be next.
Confiscation of silver?
LOL. Never heard that one before.
No Metal == No Market
Thanks to the algos watching CNBC.
There was was a man named Roubini
Who sported an undersized weenie
He said with chagrin
that gold would not win
While wearing a shiny new beanie.
lol
There once was a man named Bernanke
Was known to often be cranky
He called himself scholar
for destroying the dollar
and used Salman P Chase as a hankie
FUCK YOU BERNANKE AND ALL U BITCH MADE SCUMBAG BANKERS.....
Silver: "how you like me now mother fuckers........."
come on silver $36 baby right up JPM's nether regions
I would think Jamie is about to start shitting his pants soon.
Brent went beserk, too
Dammit......I knew I should have got some gas yesterday.
Fed has announced with Bernanke and now Charles Evans they want to trigger a complete trashing of the US dollar's value.
Zimbabwe is the economic policy $20.00 for a loaf of bread.
No wonder Bernanke had his kid take out a $400,000 school loan. Bernanke knows the plan is to devalue the US dollar big time.
ONLY $20? How about 0.1 grams of gold? Gold For Bread - Zimbabwe - currency collapse
To the moon and beyond!
Silver bitchez! Kitco getting monkey hammered this morning.
hilarious....
those assholes will do avything to keep Gold under $1800 and Silver under $35....
http://www.kitco.com/charts/livesilver.html
Yes, they are trying very hard to keep gold and silver from launching. It's coordinated by the central banks.
Take profit fool.
yeah, thats a brilliant idea...
trade real money for debt coupon dollars since at $35 a ounce that represents its true value in a world drowning in debt based currencies....
fuck off man....
I am taking profit -- taking profit from my paper sheet and converting to real money silver and gold fool
The Fed's choice is clear. To print the existing debt to a fraction of what it is now.
It's talk about unlimited US dollar trashing day.
The US is doing a good job of destroying itself, just like the former Soviet union. Why use the military when you have the Federal Reserve.
Ok, so what you have is a collapse of the so-called London Gold Pool with strife in South Africa. What the powers that be are attempting to promote at this time is how jewellery buyers in India will dump their gold instead of buy any. The Rupee has collapsed, you see, and nobody in their right mind will buy gold. Even the Indian gubmint is into denouncing gold buyers. What they seem to forget is that when gold is priced higher, people will chase the price, especially if its meant for show.
Yes yes...news is "Indian Farmers" to sell their gold...
India unlocks treasure trove of gold as farmers sellhttp://www.guardian.co.uk/business/feedarticle/10462455
Man, you have this game down!
the response to MDB's posts makes me understand why they used to rework Brit comedies for the US market
Even Aussie tripe is getting the treatment. Iknow of 2.
Silver was smacked right back down to sub-35. Just like a week ago Friday. The chart is just hilarious, like something Nuttyahoo might use for a prop while addressing the UN.
35: oy vey iz mir says Jamie, it's just so scaaaaary!
I'm sure I'm very late to the party today, but has anyone posted thoughts on Obummer replacing Bernanke with Little Timmy Geitner if re-elected? I read late last night and tasted vomit in my mouth, how much of a circus would that be? Thx
It is a bull market for gold. In bull markets prices tend to go higher, not lower.
Thus, on August 22 the Dow Theory signaled a primary bull market in gold . Technically, both gold and silver are under a primary bull market. Under Dow Theory primary bull markets are supposed to last on average more than 2 years. So we are talking of a powerful move, not just a "tradable" rally. If past experience serves us as a guide, we are talking of a price gains exceeding 40%. For silver it can be more (i.e. 80% given that it has a volatility that roughly doubles that of gold).
More about gold primary bull market:
http://bit.ly/Ooer8T