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If 8:20 am Then Sell, Sell, Sell Gold

Tyler Durden's picture





 

Presented with no comment...

 

 

as gold futures saw a huge volume rush...

 

Charts:Bloomberg

 


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Wed, 11/28/2012 - 09:25 | Link to Comment Squishi
Squishi's picture

else:

buy bonds

Wed, 11/28/2012 - 09:28 | Link to Comment HoofHearted
HoofHearted's picture

and then...buy AAPL or NFLX or CMG. Anything at all. 

Love, PPT

Wed, 11/28/2012 - 09:41 | Link to Comment dlmaniac
dlmaniac's picture

Who needs Black Friday or Cyber Monday when you have good ol CRIMEX ANYDAY?

Perhaps Jamie Dimon is trying to prove he is up to whatever rigging job a Sec of Treasure is called upon.

Wed, 11/28/2012 - 09:47 | Link to Comment DeadFred
DeadFred's picture

The upside is the high correlation between this insanity and the recent declines of the equity markets. Maybe there is some code written into the algos that turn them into selling monsters when they see gold get sucker-punched.

Wed, 11/28/2012 - 09:49 | Link to Comment TruthInSunshine
TruthInSunshine's picture

There's manipulation.

And then there's just bogarting the f*ck out of it.

Wed, 11/28/2012 - 09:52 | Link to Comment economics9698
economics9698's picture

Let me guess, Senator Reid’s office leaked out there was a financial cliff deal and the bankers won!   Just a guess.

 

http://usa-wethepeople.com/2012/11/the-fiscal-cliff-was-1998/

Wed, 11/28/2012 - 10:00 | Link to Comment General Decline
General Decline's picture

Depends on your world view. Is it sell, sell, sell or is it buy, buy, buy?

Wed, 11/28/2012 - 10:18 | Link to Comment flacon
flacon's picture

AAPL puts, then buy gold. Wash, rinse, repeat.

Wed, 11/28/2012 - 10:26 | Link to Comment savagegoose
savagegoose's picture

ohh look the wolrd econ is all better now?

Wed, 11/28/2012 - 10:30 | Link to Comment strannick
strannick's picture

Dirty old gold. Blech. Meanwhile CFTC Commisioners Jill Sommers and Scott Omalia see nothing manipulative in selling 7000 + contracts in 5 minutes to send the price plunging the day after options are excersized. Stop playing Comex. There are dozens of miners who would like to meet you.

Wed, 11/28/2012 - 10:47 | Link to Comment Lewshine
Lewshine's picture

@ Stran:

Worse than that, yesterday saw the highest PUT buying in December 1690/1700 pricing...In two years. - Think maybe someone got the memo that Jamie and Blythe were gonna work their magic? This market is complete trash!

Wed, 11/28/2012 - 10:54 | Link to Comment DeadFred
DeadFred's picture

Maybe it isn't manipulation. The size of the sell order suggests that Brazil just off loaded their entire gold reserve in a few minutes. Maybe they just got the memo that it's only a barbarous relic. 

Wed, 11/28/2012 - 11:09 | Link to Comment TruthInSunshine
TruthInSunshine's picture

In less but still precious news:

 

Report: States Can Get More Than $9 From Feds for Every $1 They Spend Under Obamacare

 

WASHINGTON - States will receive more than $9 in federal money for every $1 they spend to cover low-income residents under President Barack Obama's health care law, according to a nonpartisan analysis released Monday.

 

I mean, it's not as if we have any sort of ginormous, unpayable federal debt at present, or aren't actually adding to it at 1.3 trillion (soon to be 1.6 trillion) per annum, amIright?

Fire up that modern electronic equivalent of the fiat printer, Bernank. Get busy Monetizing, bitch, or get busy dying!!

Wed, 11/28/2012 - 11:10 | Link to Comment Manthong
Manthong's picture

It’s just a good thing there are no “Operational Limitations” for the Central Banks and their minions when it comes to delivering Federal Reserve Notes.

Wed, 11/28/2012 - 11:21 | Link to Comment TruthInSunshine
TruthInSunshine's picture

 Bigger Boat Sound Clip


George: "Alright, 3 million, I counted it twice."

Diego: "2.5, 2.5, I'm sure."

George: "I'm calling it three."

Diego: "Then we are half a million off huh?"

George: "Well, fuck it. I'm not counting it again."

Diego: "Weigh it."

George: "Huh?"

Diego: "If it's 60 pounds, it's 3 million. 50, it's 2.5."

George: "I don't give a shit, it's close enough. Where do I put it?"

Diego: "Uh, try the back bedroom." George: "No room." Diego: "Try the closet."

George: "Uh, we're going to need a bigger boat."

Wed, 11/28/2012 - 11:23 | Link to Comment Stackers
Stackers's picture

Sorry guys, that was me. I ran out of clothes to sew my gold into and had to dump the rest.

Wed, 11/28/2012 - 15:37 | Link to Comment Joe Sixpack
Joe Sixpack's picture

Ahhh...

 

That was the golden cliff.

Wed, 11/28/2012 - 17:07 | Link to Comment smiler03
smiler03's picture

But ZH keeps telling me that gold is a store of value so why does everybody fret about this? (I'm NOT being sarcastic)

Wed, 11/28/2012 - 18:31 | Link to Comment TruthInSunshine
TruthInSunshine's picture

It's more frustration with the obvious paper gold manipulation than anything else.

Pull up a thousand year chart of the barbarous relic and take solace if you ever find yourself trending towards the fiat bugs' viewpoints.

Wed, 11/28/2012 - 10:56 | Link to Comment Ignatius
Ignatius's picture

7,728 contracts in 5 minutes.  I'm sure they're just tryin' to get 'best price', right?  /sarc

Wed, 11/28/2012 - 14:14 | Link to Comment JLee2027
JLee2027's picture

CNBC reported "someone" sold 15,000 contracts. Anyway, it moved the price down only 30 dollars. The amounts needed to move the price down continue to grow larger and the net effect is smaller it seems to me. 

Wed, 11/28/2012 - 11:15 | Link to Comment klockwerks
klockwerks's picture

Not an expert here but have been watching gold today and being a small potatoes guy, I'm thinking it is a good time to buy. If the clowns can't come up with some agreement will gold coninue to go south? I plan on watching it and buy a sack of 1/10 or 1/4 oz  pieces. Does anyone here have any advise on either size and in case everything goes south what size is best for using or bartering. Could use some help here

Wed, 11/28/2012 - 11:28 | Link to Comment Debugas
Debugas's picture

gold will not be useful in day-to-day transactions so do not bother and buy it in 1 Oz or  bigger

Wed, 11/28/2012 - 14:06 | Link to Comment EINSILVERGUY
EINSILVERGUY's picture

I don't agree completely. The bulk should be 1oz AGE or maples. You should have some 1/10 and 1/4th ounce AGE as a bridge.

Start with 90% dimes, quarters, halves and a few silver dollars(premuims are too high to buy a lot of these)

Then move to 1 oz ASE, Maples, Phils, then 5 and 10oz bars . Anything higher than 10oz bars might be problematic for daily or medium purchases.

The 1/10 and 1/4's can be used for purchases of equal to or more than 5 oz based on a  StoG ratio of 50:1 which will come down if SHTF

 

 

Wed, 11/28/2012 - 15:09 | Link to Comment FEDbuster
FEDbuster's picture

1/10 AGE goes for about $200. in today's FRNs.  What do you buy day to day for $200.?  A 1 oz AGE is about $1800., what do you buy each day that is that amount?

I would say your best barter coin value is the pre-1964 90% silver quarter, current value $6.  Often times dealers will sell for silver value or a slight premium.  I have two local places that will sell for spot value, if buying over 10 coins at a time.  Silver is for barter, gold is for wealth preservation.  Also, food and bullets are good barter items to stock up on. They both have been going up in price over the past few years.

Wed, 11/28/2012 - 16:15 | Link to Comment Bansters-in-my-...
Bansters-in-my- feces's picture

@ klockwerks. I think buying one oz bullion coins is the best way.

1/10s and 1/4s have too much premium on them,you have to hold a long time to make that premium back up.

1/2s are not bad but still higher premium.

You want to buy gold to save your wealth not to spend like fiat.

You should only sell when you are in need of fiat.

Maple leafs are good and krugerands,any soverign,but I would stay away from the American Gold Eagle.....

Well,because it is american.

Even the eagle on it must hate it.

Cheers.

Wed, 11/28/2012 - 10:28 | Link to Comment Comay Mierda
Comay Mierda's picture

nah prob the FT or some other propaganda outlet in charge of getting algos to sell through important support levels

Wed, 11/28/2012 - 10:11 | Link to Comment TWSceptic
TWSceptic's picture

This is just too blatant, to get away with this you need help from government (or did the order come from them?)

Wed, 11/28/2012 - 10:26 | Link to Comment DeadFred
DeadFred's picture

Wall Street trading houses/TBTF banks/the Fed/US Government

It's easy to see the slashes in the line above but in real life the boundaries are a lot fuzzier

Wed, 11/28/2012 - 10:13 | Link to Comment Water Is Wet
Water Is Wet's picture

Everyone knows the way to get the best price/execution is to sell your entire huge order in 1 print, especially in a low volume market.  That's, like, Wall St. 101...

Wed, 11/28/2012 - 11:19 | Link to Comment dbomb12
dbomb12's picture

It is amazing how you can affect the physical market with paper ETF,S

Wed, 11/28/2012 - 09:55 | Link to Comment gold-is-not-dead
gold-is-not-dead's picture

It's just classical paper shake off. We've seen it many times.

Wed, 11/28/2012 - 10:15 | Link to Comment knukles
knukles's picture

BINGO

Just another "Hold on boys, let's not get too happy about that fiat debasement....  Y'all ain't gonna get a clean free ride here.... Goldman was short and so....

 

Actually.

Yesterday was options/future settlement and a bazillion in the money options got converted in to futures contract longs.
So them bad ass motherfuckers betting on the rise in the price of gold now gots variation margins to deal with, we wants some of that cash, boys.
Slam 'em down.

Typical in the money options to futures being punished by the shorts...

Nothing to see here, typical manipulation.
Pay....

....and then move along

Wed, 11/28/2012 - 10:38 | Link to Comment Al Huxley
Al Huxley's picture

Great call.  Yes, when the commercials are > 2:1 short:long, you can always be sure the smack-down is coming.  Either just before, or immediately after options expiry, depending on how they feel they can make the most $ off their infinitely deep pockets and control of the rule book.  Rotten, corrupt fucks that they are..

Wed, 11/28/2012 - 09:49 | Link to Comment Top_Kill
Top_Kill's picture

Precious Wednesday!!! I see big bars of the white metal in my stocking.

Wed, 11/28/2012 - 10:21 | Link to Comment The Shootist
The Shootist's picture

Ben did it in direct response to the ZH guest article of  him being a currency manipulator. Avast!

Wed, 11/28/2012 - 10:11 | Link to Comment johnnymustardseed
johnnymustardseed's picture

Fuck JPM!

Wed, 11/28/2012 - 12:18 | Link to Comment JPM Hater001
JPM Hater001's picture

"Perhaps Jamie Dimon is trying to prove he is up to whatever rigging job a Sec of Treasure is called upon."

Even to manipulate the independent institution we call The Fed?

Wed, 11/28/2012 - 09:34 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Don't you love it when Ben Shalom subsidizes gold?

 

Everyone else blew their money buying crap on Black Friday......but not me.

Wed, 11/28/2012 - 09:35 | Link to Comment Muddy1
Muddy1's picture

I sure do.  BTFD

Wed, 11/28/2012 - 09:42 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Wow.....who the hell did you just piss off? Wonder who that guy is? He just comes in and junks leaving no explanation.....and then he leaves.

Wed, 11/28/2012 - 09:45 | Link to Comment kralizec
kralizec's picture

Maybe his name is Ben?

Wed, 11/28/2012 - 09:46 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Musta brought Tim with him this morning.

Wed, 11/28/2012 - 10:22 | Link to Comment TruthInSunshine
TruthInSunshine's picture

Yep, that's Ben "Mister Grinch" Bernax, and he has a devious plan to steal all the precious under the Christmas Trees in Whoville & replace it with Fiatski paper IOUs.

Timmmmmmay can be Max wearing the antlers and pull the sled.

 

You nauseate me, Mister Grinch,
With a nauseous super "naus",
You're a crooked dirty jockey and you drive a crooked hoss, Mister Grinch,

You're a three decker sauerkraut and toadstool sandwich, with arsenic sauce!

Wed, 11/28/2012 - 10:26 | Link to Comment FEDbuster
FEDbuster's picture

Let the paper pushers give us a Black Friday sale on physical.  Not too many better gifts to yourself or your family than some physical silver or gold. 

BTW on Black Friday gun sales set a new record of over 150K background checks in a single day.  My wish list is short: gold and silver bullion, copper, lead and brass or the means to deliver them, and nothing says I care about you like a few five gal. pails of rice, oatmeal, wheat and beans.

Wed, 11/28/2012 - 11:17 | Link to Comment kekekekekekeke
kekekekekekeke's picture

ugh why is most easy cheap long term food storage not paleo-friendly :( anyone know of any paleo prepping blogs?  Stockpile shit tons of beef jerkey?

Wed, 11/28/2012 - 13:56 | Link to Comment LosOsos
LosOsos's picture

Check out quinoa. It's sort of like a grain but it is gluten free,a complete protein, contains a bunch of amino acids, and a good source of calcium, phosphorous, and iron. Plus it goes great with leafy greens from the backyard garden :).  

Wed, 11/28/2012 - 09:37 | Link to Comment Urban Roman
Urban Roman's picture

Barbarous relic. I'mma throw all mine in the dumpster.

Wed, 11/28/2012 - 09:42 | Link to Comment darteaus
darteaus's picture

They are now giving it away with Obama phones and government cheese!

Wed, 11/28/2012 - 09:44 | Link to Comment kralizec
kralizec's picture

Just buy more, then have the boating accident...

Wed, 11/28/2012 - 09:56 | Link to Comment paddy0761
paddy0761's picture

errr... What's your address, and what night is trash night?

Wed, 11/28/2012 - 10:10 | Link to Comment unrulian
unrulian's picture

I can rent you a dumpster...and take it away when you're done

Wed, 11/28/2012 - 09:41 | Link to Comment darteaus
darteaus's picture

DO NOT call my new FN 5.7x28mm crap!

Wed, 11/28/2012 - 09:52 | Link to Comment Big Slick
Big Slick's picture

AU, AG and PB (7.62x39)

Wed, 11/28/2012 - 09:52 | Link to Comment deeznutz
deeznutz's picture

That is fine piece. Wish I had the budget for one.

Wed, 11/28/2012 - 10:02 | Link to Comment General Decline
General Decline's picture

5.7x28...love that cartridge

Wed, 11/28/2012 - 10:33 | Link to Comment TruthInSunshine
TruthInSunshine's picture

7.62x51mm with a smooth bolt action and "free float" barrel, for the longer range winning.

Don't argue. It's unbecoming of libertad.

Wed, 11/28/2012 - 10:46 | Link to Comment General Decline
General Decline's picture

Can't argue with that logic

Wed, 11/28/2012 - 10:56 | Link to Comment swanpoint
swanpoint's picture

i got my scar 17s yesterday.

Wed, 11/28/2012 - 11:32 | Link to Comment darteaus
darteaus's picture

Best value: Mosin Nagant

Wed, 11/28/2012 - 10:56 | Link to Comment swanpoint
swanpoint's picture

5.7x28 and those Five-seveN & PS90 weapons; hard to find.

Wed, 11/28/2012 - 11:01 | Link to Comment darteaus
Wed, 11/28/2012 - 12:20 | Link to Comment JPM Hater001
JPM Hater001's picture

Of course not.  It's made in Argentina.

Wed, 11/28/2012 - 10:05 | Link to Comment CPL
CPL's picture

Bond = equities.

 

no thank you.  I'll go pick up some discounted gold.

Wed, 11/28/2012 - 10:50 | Link to Comment Silver Bully
Silver Bully's picture

'else:

buy bonds'

 

No. BTFD. While you can.

Wed, 11/28/2012 - 10:52 | Link to Comment Silver Garbage Man
Silver Garbage Man's picture

RANTING ANDY will sleep just a little bit better tonight.

Wed, 11/28/2012 - 09:26 | Link to Comment dereksatkinson
dereksatkinson's picture

umm Why?

Wed, 11/28/2012 - 09:29 | Link to Comment 10044
10044's picture

Coz JPM says so

Wed, 11/28/2012 - 09:40 | Link to Comment philipat
philipat's picture

Yup, Friday is FND. Can;t loose money can we.

 

Love, JPM

Wed, 11/28/2012 - 09:50 | Link to Comment BLOTTO
BLOTTO's picture

I think we've seen this before.

.

Again...you have to ask yourself - Do you really believe the occult global elitists want to save all those useless, grazing, electronic gadget loving, not capable of independent thinking - zombies of the world?!?!

or

Screw the tiny percentage of intelligent capable of independent thinking people that have PM's? And in the process - screw 'themselves'? Because you know that they love gold/silver too...these are not stupid elitists...they are very bright...they recruit smart people to join them - not stupid.

.

And with that^ alone...i re-assure myself that Nothing New is Under the Sun...Gold and Silver are repeating itself...along with history:)

Wed, 11/28/2012 - 10:07 | Link to Comment CPL
CPL's picture

Speaking of zombies.  Ever read about the Russian sleep experiments.  9 Subjects locked in a hyperbaric chamber with stimulant gas.  Pretty creepy shit.

Wed, 11/28/2012 - 11:45 | Link to Comment lakecity55
lakecity55's picture

Dude, does that mean TPTB will try to recruit from ZH?

(Shudder)

Save me, Lord.

Wed, 11/28/2012 - 12:21 | Link to Comment JPM Hater001
JPM Hater001's picture

He'll be able to give Treasury Cufflinks for Obama to wear next time he's testifying. 

Then we will all know the game is lost.

Wed, 11/28/2012 - 09:26 | Link to Comment EscapeKey
EscapeKey's picture

Imagine if this took place in treasury bills.

There would be an immediate inquiry.

Wed, 11/28/2012 - 09:30 | Link to Comment HoofHearted
HoofHearted's picture

The difference here is that gold will come roaring back.

Wed, 11/28/2012 - 09:31 | Link to Comment tocointhephrase
tocointhephrase's picture

Nice

Wed, 11/28/2012 - 09:34 | Link to Comment crusty curmudgeon
crusty curmudgeon's picture

I'm betting it will roar back and then some within two days. 

One must seize these brief opportunities quickly.  At least, that's what I kept doing until I ran out of fiat money on all the other opportunities!

Wed, 11/28/2012 - 09:53 | Link to Comment youngman
youngman's picture

I have this wierd feeling that a lot of the options are going to ask for delivery....

Wed, 11/28/2012 - 12:19 | Link to Comment Carmagnole
Carmagnole's picture

Sandy? In your Precious Metals Delivery? It's more likely than you think!

Wed, 11/28/2012 - 10:17 | Link to Comment dogbreath
dogbreath's picture

options month end smackdown.  december is a big month and the day is young

Wed, 11/28/2012 - 11:13 | Link to Comment Bastiat
Bastiat's picture

I've been wondering for some time if TSHTF on  December deliveries, esp., silver.  Popcorn.

Wed, 11/28/2012 - 10:27 | Link to Comment toothpicker
toothpicker's picture

I'm waiting for the tech analysts to come in here and say it's good for Gold because the paper price touched some mysterious level they just made up

Wed, 11/28/2012 - 10:33 | Link to Comment fuu
fuu's picture

This is just the natural outcome of a Manta Formation.

Wed, 11/28/2012 - 10:34 | Link to Comment AllWorkedUp
AllWorkedUp's picture

I'd love to think that but it will take at least a month to fix what they've destroyed in minutes. It never bounces back that quick.  It'll go up $1 - $5 a day for weeks.

These guys really need to be strung up. It's gotten beyond blatant.

Wed, 11/28/2012 - 12:48 | Link to Comment Harbanger
Harbanger's picture

Check your last post, some guy yesterday had me laughing all night.  He was convinced you and I were the same person.

Wed, 11/28/2012 - 10:00 | Link to Comment Dugald
Dugald's picture

Nice indeed but can you get it down to say 1500 I really need some more...pretty please....

Wed, 11/28/2012 - 10:09 | Link to Comment CPL
CPL's picture

It's also an indication of paper gold losing it's backing.  Happens with ETF's and ETN's all the time.  DXY collapsed the same way.

 

Leverage decay catches up with the real number and flatlines the paper product.

Wed, 11/28/2012 - 09:40 | Link to Comment darteaus
darteaus's picture

Unless it happened at MF Capital.

Wed, 11/28/2012 - 10:10 | Link to Comment SheepDog-One
SheepDog-One's picture

Or stawks...they'd have shut off the machines and cancelled all losing trades to the downside.

Wed, 11/28/2012 - 09:26 | Link to Comment It is a bargin ...
It is a bargin my friend's picture

I'm getting fucked off with this game

Wed, 11/28/2012 - 09:32 | Link to Comment DavidC
DavidC's picture

You're not the only one! I was away from my desk for less than ten minutes and Gold off from 1735 ish to 1710 ish....

DavidC

Wed, 11/28/2012 - 09:32 | Link to Comment tocointhephrase
tocointhephrase's picture

DavidC GET OUT OF PAPER GOLD!

Wed, 11/28/2012 - 09:41 | Link to Comment DavidC
DavidC's picture

I didn't say I had a position on :-)

DavidC

Wed, 11/28/2012 - 09:34 | Link to Comment Robot Traders Mom
Robot Traders Mom's picture

The only way you're getting fucked is on options, which raises the question, why would you throw money at a game you know is fixed? Because some guy named 'Turd' told you it's a good entry point?

 

This is a gift for buyers of physical. Some day, you'll be wishing you had the chance to buy gold at $1,700, not $5,700. Be happy that the manipulation has allowed us to buy as much as we can at these levels.

Wed, 11/28/2012 - 15:15 | Link to Comment Urban Roman
Urban Roman's picture

Whatchew talkin' 'bout Willis?
The Turd Hat formation is the greatest discovery in 21st century chartology.

Wed, 11/28/2012 - 09:30 | Link to Comment Quintus
Quintus's picture

Totally normal action.  I'll bet contracts representing something like a month or two's worth of global production were just dumped in one trade.

Nothing suspicious about that.  Just the 'Dr Evil' strategy in action.  Again.

Of course since yesterday was Options Expiry, and since it is traditional to smack those whose options were converted into futures contracts in the face, this is not unexpected.  In fact I was expecting it and just made some nice money.

Thanks Bullion Banks!

Wed, 11/28/2012 - 09:27 | Link to Comment Bazinga
Bazinga's picture

Thanks for the gift TPTB!

Wed, 11/28/2012 - 09:30 | Link to Comment Beam Me Up Scotty
Beam Me Up Scotty's picture

My thoughts exactly.  In fact, can't they make it go down to like $1500 an ounce again? 

Wed, 11/28/2012 - 10:02 | Link to Comment Orly
Orly's picture

You'll get your wish soon enough...

Wed, 11/28/2012 - 10:59 | Link to Comment fuu
fuu's picture

Promises promises.

Wed, 11/28/2012 - 09:28 | Link to Comment CalibratedConfidence
CalibratedConfidence's picture

we'll comment.  Like 311 says "Fuck The Bullshit, Time To Through Down"

Wed, 11/28/2012 - 09:28 | Link to Comment fonzannoon
fonzannoon's picture

I will comment....

FUCKING HORSESHIT.

 

Wed, 11/28/2012 - 09:28 | Link to Comment LawsofPhysics
LawsofPhysics's picture

Big difference between paper and physical.  With a dollar cost average of under $300.  My store of value and purchasing power is still very much intact.  A bond auction must be met, that's the sound of gold heading east in exchange for some more paper promises.

Stupid fucking sheep.

Wed, 11/28/2012 - 09:43 | Link to Comment uno
uno's picture

and why is the CRIMEX Price the official price, why not a real on the spot physical price.  Seems the miners would benefit most by having a exchange which actually delivers physical gold  --- non-tungsten not imaginery futre contract.

Wed, 11/28/2012 - 09:59 | Link to Comment BLOTTO
BLOTTO's picture

Also - the massess can't afford Gold. Fuck, they probably can't afford 5oz of silver!

.

The masses are in DEBT! as a whole.

.

They can't even comprehend going to the bank to withdraw $1,800 (which they dont have) and then go to the coin shop to slap it down for a 1oz AGE round...that it is fuckin insane to the massess.

.

That gives me and should other ZedHeds - we are in tune and are in the know.

Wed, 11/28/2012 - 10:09 | Link to Comment LawsofPhysics
LawsofPhysics's picture

"Seems the miners would benefit most by having a exchange which actually delivers physical gold"

-----------------------------------------------------------

This applies to any producer of real goods and services. Fuck the god damn paper-pushing fucks and middlemen. The American collapse will be simialr to the collapse of the former Soviet Union.  Go long black markets (where you can purchase goods directly from producers).  Free markets and Nature always win in the end.

Wed, 11/28/2012 - 11:50 | Link to Comment peekcrackers
peekcrackers's picture

Right on Law +1

Free markets = true price discovery

You paper humpers can keep smoking the illusionary knob hoping one day it wil all pay off .

 

 

 

Wed, 11/28/2012 - 09:29 | Link to Comment Moe Howard
Moe Howard's picture

Quick check.... yep, my Au & Ag is still there and has not shrunk or diminished in any way.

Let them play the games. Give me a bigger dip so I can get rid of some of these FRNs that have been piling up.

Wed, 11/28/2012 - 09:47 | Link to Comment docj
docj's picture

Precisely. Drop Gold to ~1600 and Silver to ~25 and I'm converting green to shiny as fast as I can find supply.

C'mon Benron - you know you want to!

Wed, 11/28/2012 - 09:29 | Link to Comment tocointhephrase
tocointhephrase's picture

BTFD

Wed, 11/28/2012 - 09:43 | Link to Comment augustusgloop
augustusgloop's picture

BTFB (Bullion)

Wed, 11/28/2012 - 10:22 | Link to Comment tocointhephrase
tocointhephrase's picture

+1

Wed, 11/28/2012 - 09:30 | Link to Comment Who is John Galt
Who is John Galt's picture

What will be funny is if the price fully recovers by session close as the Chinese fully take advantage of the gift given to them by the NY Banksters.

Wed, 11/28/2012 - 09:36 | Link to Comment a growing concern
a growing concern's picture

It is kind of funny that whoever's doing that is actively aiding China's eventual supremacy in the world.  Once China updates its gold holdings and does some sort of gold denominated currency, the flight from the USD will make their head spin.  And then it will be our turn to make shitty plastic stuff for their consumers.

Wed, 11/28/2012 - 09:53 | Link to Comment Neoisolationist
Neoisolationist's picture

It's being done intentionally. This is a take down of the USA, internally, by the bankers, NWO, and UN Agenda 21 types. Individualism v. collectivism. in the USA, the sociopaths and psychopaths are in charge. Fraudulent elections, impossible debt, etc. take down of republic in real-time. Will probably end with either a military coup or a civil war. I don't see any other way from this point, to be honest. But what is at end, at the very least, is the USA as a hegemonic power. That's the optomistic scenario.

Wed, 11/28/2012 - 10:03 | Link to Comment devo
devo's picture

Noam Chomsky, is that you? ;)

I agree, though. The masses are too lazy, clueless, and unarmed for civil war, so I think coup is more likely.

Wed, 11/28/2012 - 10:15 | Link to Comment LawsofPhysics
LawsofPhysics's picture

People in America in general are lazy fucks, no civil war.  Don't overthink this collapse, it will be very simliar to what happened with the soviet union.  Life goes on.  The black markets will simply grow.  Fuck the god damn paper-pushers, they have scripted and profitted from such collapses before, and so long as fiat floods the earth and is excepted in exchange for real goods and services, they will continue to do so as there are no real consequences for bad behavior.  Stupid fucking sheep.

Wed, 11/28/2012 - 10:57 | Link to Comment Bicycle Repairman
Bicycle Repairman's picture

The collapse may be similar, but then the aftermath?

Wed, 11/28/2012 - 11:09 | Link to Comment Chump
Chump's picture

I generally agree with your comments, but here I take issue.  The Soviet Union didn't have JIT delivery and Dancing with the Stars.  When the food deliveries stop and the boob tube don't work no more, blood will literally run in the streets.  No, it won't be a civil war.  It will be neighbors killing neighbors, devolving into neighbors eating neighbors.

Wed, 11/28/2012 - 13:27 | Link to Comment toothpicker
toothpicker's picture

+10

Wed, 11/28/2012 - 10:05 | Link to Comment devo
devo's picture

I used to think this, but the more I research China, the less I think they're capable of economic supremacy, at least without a war that results in them acquiring Australia and NZ, though slow infiltration into those property/asset markets might be tilt power in their favor without war (kind of like how they're strategically blowing up our bond market). Russia is a wolf in sheep's clothing...that relationship is precarious and can turn any moment. They have major structural, political, and immature civil issues that were pushed to the back-burner during the euphoria of high growth. A lot of economists I respect love China long-term. I see the case, but it's not as cut and dry as they make it seem.

Wed, 11/28/2012 - 11:40 | Link to Comment lakecity55
lakecity55's picture

Where can we trade in benniebux for Yuan?

Wed, 11/28/2012 - 09:30 | Link to Comment semperfi
semperfi's picture

and at 850 am  buy buy buy

Wed, 11/28/2012 - 09:31 | Link to Comment devo
devo's picture

It'll recovery quickly.

Wed, 11/28/2012 - 09:31 | Link to Comment darteaus
darteaus's picture

Government strategy:

If a coming slug of bad economic news will speed people trading paper for tangible, then slam the market first before releasing the news.

After the news hits, the market is right back where it was and your paper still has some value.

Wed, 11/28/2012 - 09:47 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Government strategy:

 

Send them all our gold and nukes.....maybe they'll stop screwing with us.

Wed, 11/28/2012 - 13:33 | Link to Comment toothpicker
toothpicker's picture

.

Wed, 11/28/2012 - 09:38 | Link to Comment HedgeFun
HedgeFun's picture

It was comex option expiration yesterday and gold mini expiration today.  This is normal activity as traders close positions.  The turbulence will end by tomorrow and likely turn up as new positions are established.

Wed, 11/28/2012 - 10:43 | Link to Comment SilverSavant
SilverSavant's picture

And that fat old Santa really does come down the Chimney. 

Wed, 11/28/2012 - 09:33 | Link to Comment EL INDIO
EL INDIO's picture

Unless you are an old man who stacked a lot of the shiny metal a long time ago then you should welcome any and all sell-offs.

I do, more please.

(Why people do not complain when it goes up sharply ? )

Wed, 11/28/2012 - 09:33 | Link to Comment tmosley
tmosley's picture

Sell paper, buy physical.

Wed, 11/28/2012 - 09:51 | Link to Comment uno
uno's picture

there's the problem for countries or SWF, get the physical in size.  For individuals this is perfect.  For large buyers, getting delivery 'aka Hurrican Sandy excuse' or other delays or salted tungsten bars is a major problem.  Maybe they go straight to the miners.  Just seems like the crimex price is usuable for small sellers/buyers or paper day traders, not real physical delivery.

Wed, 11/28/2012 - 11:27 | Link to Comment Winston Churchill
Winston Churchill's picture

Ding Dong.

Exactly what large buyers have been doing.Direct deals with the miners

bypassing the MLME and CRIMEX.

Nobody has any idea of China's holdings because of it,we can only guess.

We only see imports thru' Hong Kong.China has plenty of other entry points,

Wed, 11/28/2012 - 13:01 | Link to Comment uno
uno's picture

yes, and taking all gold from their own miners. 

Wed, 11/28/2012 - 09:34 | Link to Comment 10044
10044's picture

Someone just had a margin call on aapl

Wed, 11/28/2012 - 09:34 | Link to Comment Dre4dwolf
Dre4dwolf's picture

Because people wakeup , drink coffee and instantly rush to their computer to sell off their paper gold holdings.

 

I wonder, do people wakup 8:30 in the morning throw all their gold into a shopping bag and drive to their local "we buy gold for cash" place at 9 AM?

 

lol

 

Its pure BS

Wed, 11/28/2012 - 09:36 | Link to Comment Rastadamus
Rastadamus's picture

I love that they keep doing this and allowing poor  folks like me to save money and purchase gold at what will be bargain basement prices......

 

Wed, 11/28/2012 - 09:35 | Link to Comment LongSoupLine
LongSoupLine's picture

stuff that bid Blythe you fucking superbitch.

Wed, 11/28/2012 - 09:36 | Link to Comment holdbuysell
holdbuysell's picture

Grant Williams' latest is relevant:

http://www.mauldineconomics.com/ttmygh/the-mousetrap

 

Wed, 11/28/2012 - 12:45 | Link to Comment RockyRacoon
RockyRacoon's picture

That is a good piece that all should read.  Skip the Agatha Christie thing at the top and go down to the real meat of the article.   Spooky, and a boost to the spirits when ya feel all down and out.  The house of cards is getting wobbly.

Wed, 11/28/2012 - 09:38 | Link to Comment Dre4dwolf
Dre4dwolf's picture

Does anyone really even count a 30$ move as a "move" ? for gold? because I count that as noise, It really doesnt even catch my attention really.... unless its like a 200 $ move in the price.... 

When the move on the price of the metal is less than the spot premium + delivery fee... I mean... who cares ? 30$ is like an ant trying to move a mountain.... doesn't mean anything.

Wed, 11/28/2012 - 09:38 | Link to Comment dereksatkinson
dereksatkinson's picture

21k contracts in 5 minutes..  really?  couldn't work out of that order?

Wed, 11/28/2012 - 09:51 | Link to Comment Quinvarius
Quinvarius's picture

Dude when you have 3.5 billion is silver to sell for a client, you dump it all at once.  Everyone who was trained at JPM knows how to get you the best price.

Wed, 11/28/2012 - 09:38 | Link to Comment Angus McHugepenis
Angus McHugepenis's picture

I can't get to my silver pimp til Friday so keep pushing it down til then. I have a shitload of worthless paper to unload on my poor, unsuspecting pimp.

That's how we roll in the silver ghetto bitchez.

Oh... Thank you Bernank. Or fuck you if you turn on me.

Wed, 11/28/2012 - 09:40 | Link to Comment Dre4dwolf
Dre4dwolf's picture

Silver Grill, Silver Gat, Silver Dubs All the way.... even my cat is named Silve-ster

Wed, 11/28/2012 - 09:39 | Link to Comment reader2010
reader2010's picture

That's a barbaric move.

Wed, 11/28/2012 - 09:42 | Link to Comment divedivedive
divedivedive's picture

Full Moon.

Wed, 11/28/2012 - 09:43 | Link to Comment DavidC
DavidC's picture

All it does is to show the utter despearation 'they' have. And all it does it to prduce opportunities for China, India, Russia, Turkey, Iran et al to buy gold at cheaper prices.

What utter fuckwits to present such an opportunity.

DavidC

Wed, 11/28/2012 - 09:48 | Link to Comment Mad Mohel
Mad Mohel's picture

It's like when you were a kid and fucked up and knew you fucked up, then just to avoid getting busted you did even stupider shit to get out of the pickle. The whole time you knew you were digging yourself deeper but couldn't stop yourself. Looking back you think, "that was a dumb motherfucker, what was I thinking?"

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