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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 | 3016968 Squishi
Squishi's picture

else:

buy bonds

Wed, 11/28/2012 - 09:28 | 3016985 HoofHearted
HoofHearted's picture

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

Love, PPT

Wed, 11/28/2012 - 09:41 | 3017035 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 | 3017087 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 | 3017100 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 | 3017109 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 | 3017139 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 | 3017210 flacon
flacon's picture

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

Wed, 11/28/2012 - 10:26 | 3017233 savagegoose
savagegoose's picture

ohh look the wolrd econ is all better now?

Wed, 11/28/2012 - 10:30 | 3017252 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 | 3017320 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 | 3017343 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 | 3017369 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 | 3017387 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 | 3017412 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 | 3017419 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 | 3018223 Joe Sixpack
Joe Sixpack's picture

Ahhh...

 

That was the golden cliff.

Wed, 11/28/2012 - 17:07 | 3018476 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 | 3018711 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 | 3017351 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 | 3017966 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 | 3017398 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 | 3017432 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 | 3017936 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 | 3018131 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 | 3018317 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 | 3017244 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 | 3017181 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 | 3017234 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 | 3017192 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 | 3017410 dbomb12
dbomb12's picture

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

Wed, 11/28/2012 - 09:55 | 3017118 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 | 3017197 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 | 3017283 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 | 3017101 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 | 3017217 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 | 3017184 johnnymustardseed
johnnymustardseed's picture

Fuck JPM!

Wed, 11/28/2012 - 12:18 | 3017600 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 | 3016994 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 | 3017028 Muddy1
Muddy1's picture

I sure do.  BTFD

Wed, 11/28/2012 - 09:42 | 3017058 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 | 3017076 kralizec
kralizec's picture

Maybe his name is Ben?

Wed, 11/28/2012 - 09:46 | 3017079 GetZeeGold
GetZeeGold's picture

 

 

Musta brought Tim with him this morning.

Wed, 11/28/2012 - 10:22 | 3017120 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 | 3017231 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 | 3017404 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 | 3017905 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 | 3017039 Urban Roman
Urban Roman's picture

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

Wed, 11/28/2012 - 09:42 | 3017064 darteaus
darteaus's picture

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

Wed, 11/28/2012 - 09:44 | 3017071 kralizec
kralizec's picture

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

Wed, 11/28/2012 - 09:56 | 3017121 paddy0761
paddy0761's picture

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

Wed, 11/28/2012 - 10:10 | 3017180 unrulian
unrulian's picture

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

Wed, 11/28/2012 - 09:41 | 3017060 darteaus
darteaus's picture

DO NOT call my new FN 5.7x28mm crap!

Wed, 11/28/2012 - 09:52 | 3017107 Big Slick
Big Slick's picture

AU, AG and PB (7.62x39)

Wed, 11/28/2012 - 09:52 | 3017111 deeznutz
deeznutz's picture

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

Wed, 11/28/2012 - 10:02 | 3017149 General Decline
General Decline's picture

5.7x28...love that cartridge

Wed, 11/28/2012 - 10:33 | 3017254 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 | 3017317 General Decline
General Decline's picture

Can't argue with that logic

Wed, 11/28/2012 - 10:56 | 3017350 swanpoint
swanpoint's picture

i got my scar 17s yesterday.

Wed, 11/28/2012 - 11:32 | 3017448 darteaus
darteaus's picture

Best value: Mosin Nagant

Wed, 11/28/2012 - 10:56 | 3017348 swanpoint
swanpoint's picture

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

Wed, 11/28/2012 - 11:01 | 3017364 darteaus
Wed, 11/28/2012 - 12:20 | 3017605 JPM Hater001
JPM Hater001's picture

Of course not.  It's made in Argentina.

Wed, 11/28/2012 - 10:05 | 3017159 CPL
CPL's picture

Bond = equities.

 

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

Wed, 11/28/2012 - 10:50 | 3017330 Silver Bully
Silver Bully's picture

'else:

buy bonds'

 

No. BTFD. While you can.

Wed, 11/28/2012 - 10:52 | 3017337 Silver Garbage Man
Silver Garbage Man's picture

RANTING ANDY will sleep just a little bit better tonight.

Wed, 11/28/2012 - 09:26 | 3016971 dereksatkinson
dereksatkinson's picture

umm Why?

Wed, 11/28/2012 - 09:29 | 3016987 10044
10044's picture

Coz JPM says so

Wed, 11/28/2012 - 09:40 | 3017056 philipat
philipat's picture

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

 

Love, JPM

Wed, 11/28/2012 - 09:50 | 3017086 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 | 3017164 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 | 3017490 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 | 3017613 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 | 3016973 EscapeKey
EscapeKey's picture

Imagine if this took place in treasury bills.

There would be an immediate inquiry.

Wed, 11/28/2012 - 09:30 | 3016992 HoofHearted
HoofHearted's picture

The difference here is that gold will come roaring back.

Wed, 11/28/2012 - 09:31 | 3017003 tocointhephrase
tocointhephrase's picture

Nice

Wed, 11/28/2012 - 09:34 | 3017019 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 | 3017114 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 | 3017603 Carmagnole
Carmagnole's picture

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

Wed, 11/28/2012 - 10:17 | 3017205 dogbreath
dogbreath's picture

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

Wed, 11/28/2012 - 11:13 | 3017395 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 | 3017236 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 | 3017264 fuu
fuu's picture

This is just the natural outcome of a Manta Formation.

Wed, 11/28/2012 - 10:34 | 3017270 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 | 3017676 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 | 3017140 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 | 3017171 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 | 3017054 darteaus
darteaus's picture

Unless it happened at MF Capital.

Wed, 11/28/2012 - 10:10 | 3017177 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 | 3016974 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 | 3016997 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 | 3017009 tocointhephrase
tocointhephrase's picture

DavidC GET OUT OF PAPER GOLD!

Wed, 11/28/2012 - 09:41 | 3017057 DavidC
DavidC's picture

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

DavidC

Wed, 11/28/2012 - 09:34 | 3017025 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 | 3018158 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 | 3016977 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 | 3016979 Bazinga
Bazinga's picture

Thanks for the gift TPTB!

Wed, 11/28/2012 - 09:30 | 3016995 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 | 3017146 Orly
Orly's picture

You'll get your wish soon enough...

Wed, 11/28/2012 - 10:59 | 3017357 fuu
fuu's picture

Promises promises.

Wed, 11/28/2012 - 09:28 | 3016981 CalibratedConfidence
CalibratedConfidence's picture

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

Wed, 11/28/2012 - 09:28 | 3016983 fonzannoon
fonzannoon's picture

I will comment....

FUCKING HORSESHIT.

 

Wed, 11/28/2012 - 09:28 | 3016984 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 | 3017069 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 | 3017136 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 | 3017173 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 | 3017501 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 | 3016989 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 | 3017090 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 | 3016991 tocointhephrase
tocointhephrase's picture

BTFD

Wed, 11/28/2012 - 09:43 | 3017074 augustusgloop
augustusgloop's picture

BTFB (Bullion)

Wed, 11/28/2012 - 10:22 | 3017220 tocointhephrase
tocointhephrase's picture

+1

Wed, 11/28/2012 - 09:30 | 3016993 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 | 3017031 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 | 3017115 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 | 3017155 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 | 3017191 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 | 3017352 Bicycle Repairman
Bicycle Repairman's picture

The collapse may be similar, but then the aftermath?

Wed, 11/28/2012 - 11:09 | 3017386 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 | 3017828 toothpicker
toothpicker's picture

+10

Wed, 11/28/2012 - 10:05 | 3017141 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 | 3017476 lakecity55
lakecity55's picture

Where can we trade in benniebux for Yuan?

Wed, 11/28/2012 - 09:30 | 3016996 semperfi
semperfi's picture

and at 850 am  buy buy buy

Wed, 11/28/2012 - 09:31 | 3016998 devo
devo's picture

It'll recovery quickly.

Wed, 11/28/2012 - 09:31 | 3017002 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 | 3017088 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 | 3017840 toothpicker
toothpicker's picture

.

Wed, 11/28/2012 - 09:38 | 3017012 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 | 3017302 SilverSavant
SilverSavant's picture

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

Wed, 11/28/2012 - 09:33 | 3017014 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 | 3017015 tmosley
tmosley's picture

Sell paper, buy physical.

Wed, 11/28/2012 - 09:51 | 3017106 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 | 3017431 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 | 3017706 uno
uno's picture

yes, and taking all gold from their own miners. 

Wed, 11/28/2012 - 09:34 | 3017018 10044
10044's picture

Someone just had a margin call on aapl

Wed, 11/28/2012 - 09:34 | 3017024 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 | 3017030 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 | 3017033 LongSoupLine
LongSoupLine's picture

stuff that bid Blythe you fucking superbitch.

Wed, 11/28/2012 - 09:36 | 3017034 holdbuysell
holdbuysell's picture

Grant Williams' latest is relevant:

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

 

Wed, 11/28/2012 - 12:45 | 3017670 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 | 3017038 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 | 3017040 dereksatkinson
dereksatkinson's picture

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

Wed, 11/28/2012 - 09:51 | 3017104 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 | 3017042 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 | 3017052 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 | 3017046 reader2010
reader2010's picture

That's a barbaric move.

Wed, 11/28/2012 - 09:42 | 3017062 divedivedive
divedivedive's picture

Full Moon.

Wed, 11/28/2012 - 09:43 | 3017066 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 | 3017092 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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