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Golden Showers As Goldman Tells Clients To Sell Gold

Tyler Durden's picture




 

It's around that time of day again - when precious metals are sold hard for whatever reason you care to come up with (collateral requirements, margin calls, alchemy perfected). However, today there is a more mundane reason: Goldman Sachs has suggested its clients sell Gold on the basis that the gold cycle will turn in 2013 thanks to improving US growth offsetting the need for further Fed easing. Of course, Goldman telling its clients to 'sell gold' means Goldman is...

 

 

Via Goldman:

Gold prices range bound in 2012 despite perfect set up

Gold prices have remained range bound in 2012, despite a steady decline in US real rates and rise in central bank holdings that would ordinarily be supportive. To understand this dislocation we expand our modeling of gold prices to include the impact of the US Federal Reserve easing. We find that gold prices “look through” easing that does not require Fed balance sheet expansion –like Operation Twist – increasing instead on announcements of easing through expansion on the Fed’s balance sheet.

 

Improving US growth outlook offsets further Fed easing

Our economists forecast that the US economic recovery will slow early in 2013 before reaccelerating in the second half. They also expect additional expansion of the Fed’s balance sheet. Near term, the combination of more easing and weaker growth should prove supportive to gold prices. Medium term however, the gold outlook is caught between the opposing forces of more Fed easing and a gradual increase in US real rates on better US economic growth. Our expanded modeling suggests that the improving US growth outlook will outweigh further Fed balance sheet expansion and that the cycle in gold prices will likely turn in 2013. Risks to our growth outlook remain elevated however, especially given the uncertainty around the fiscal cliff, making calling the peak in gold prices a difficult exercise.

 

Gold cycle likely to turn in 2013; lowering gold price forecasts

We lower our 3-, 6- and 12-mo gold price forecasts to $1,825/toz, $1,805/toz and $1,800/toz and introduce a $1,750/toz 2014 forecast. While we see potential for higher gold prices in early 2013, we see growing downside risks. As a result, we find that the risk-reward of holding a long gold position is diminishing and recommend rolling our long Dec-12 COMEX gold position into a long Apr-13 position and selling a $1,850/toz call to finance a $1,575/toz put to protect against a decline in gold prices. Since 2009, this strategy achieved a better Sharpe ratio than a long gold position.

 

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Wed, 12/05/2012 - 10:21 | 3035312 LawsofPhysics
LawsofPhysics's picture

Paper gold?  Yes I agree, sell that shit or take delivery.

Wed, 12/05/2012 - 10:22 | 3035320 Pladizow
Pladizow's picture

Tungston Sachs!

Wed, 12/05/2012 - 10:39 | 3035400 N. B. Forrest
N. B. Forrest's picture

This can mean only one thing.  Goldman is buying gold.

 

Take that you muppets.

Wed, 12/05/2012 - 10:43 | 3035418 Harlequin001
Harlequin001's picture

'Sell gold"...

and buy silver...

OR

keep gold...

and buy more silver...

Wed, 12/05/2012 - 11:07 | 3035514 strannick
strannick's picture

Hmm yes. Improving economy, less government spending and so less need for QE, therefore declining gold price. Got it. 

GoldmanSachs, friend of the workin man, we're all in this together. Thanks Goldman.

Wed, 12/05/2012 - 11:12 | 3035573 BLOTTO
BLOTTO's picture

But, but here in the Greater Toronto Area, their are 5 different tv commercials on local 24hr news station advertising and asking me to bring in my Gold (and Silver):

...

-Harold the Jewelry buyer...'let me put cash in your pocket'

-Russell Oliver...aka, 'the Cashman...give you money for your gold ohhh yeaaaa'

-Pinco Gold...'we give the most cash..and u can take that to the bank'

-Oren Jewelers...'you know Oren, ive been to other places, but you give me the most cash

-And some other dude i cant think of his name?

...

And as you can see from my memorizing them all...that they have been on air for quite some time now.

.

If that isnt any indication NOT to sell your PMs...theni dont know what is...

 

Wed, 12/05/2012 - 11:31 | 3035659 CClarity
CClarity's picture

Ummm, typically if anticipate interest rates rise (aka inflation) hold gold as hedge on inflation.  With Abby Cohen calling a bottom in interest rates, that suggests she thinks Fed will tighten (or at least let rates find a non hyper manipulated level) and I'm sure if GS is going along with that call, the firm firmly intends to make competitive dealer bids for their customer offloads - - - and promptly move those purchases of gold from the dealer acct into GS investment portfolio - probably in Switzerland or Kyle Bass' UT vault.

Wed, 12/05/2012 - 12:22 | 3035880 Stackers
Stackers's picture

This is just the cartel trying to ramp the metals lower ahead of the QE4 announcement next week by the Fed out right monetizing $45bil/mnth in U.S. debt next year with probably the tag line of "and will continue as long as economic conditions remain slugish" or similar.

Wed, 12/05/2012 - 12:29 | 3035910 fourchan
fourchan's picture

lol if sachs is saying "sell", you know it is buying hand over fist, against its own clients who are idiots.

Wed, 12/05/2012 - 13:38 | 3036233 old naughty
old naughty's picture

You guys totally confused me.

Do we follow the squids, or don't we?

Never mind, I'd never like them.

Wed, 12/05/2012 - 14:49 | 3036539 Diogenes
Diogenes's picture

You can  always make money fading Goldman's tips.

Wed, 12/05/2012 - 17:50 | 3037303 Catflappo
Catflappo's picture

Interest rates more-or-less at zero, and someone is calling a 'bottom' in them.

No shit, Sherlock.

Wed, 12/05/2012 - 10:42 | 3035420 phalfa5
phalfa5's picture

the golden fleece

Wed, 12/05/2012 - 14:51 | 3036551 SmallerGovNow2
SmallerGovNow2's picture

Fuck GS...  or... Thanks GS for driving the price down so I can load up and BTFD...

Wed, 12/05/2012 - 10:44 | 3035424 DoChenRollingBearing
DoChenRollingBearing's picture

Since bearings don`t pee, the best I can do is ooze grease, and maybe fling some dirt, onto Goldman Sachs.

Wed, 12/05/2012 - 10:44 | 3035425 ParkAveFlasher
ParkAveFlasher's picture

The corn call from an earlier posting is ridiculous.  The company I work for lists ethanol prices as a key driver to our costs for raw materials.  I am in that buyer's office weekly to check his head. 

The supposed drought-driven corn shortage is a fallacy.  Crops that were to be lost in the northern areas were planted and harvested in the south.  I had hedged on our products' estimates as early as July but the buyer has reported net impact of drought is not nearly as worse as expected. 

As I said on the the GS reco's, I'll happily trade the reverse on that list of goods from that earlier post, and I'll happily buy any gold that anyone here is selling.

Bitchez.

Wed, 12/05/2012 - 11:38 | 3035692 jimijon
jimijon's picture

Be careful... the drought isn't over.

Wed, 12/05/2012 - 12:05 | 3035817 ParkAveFlasher
ParkAveFlasher's picture

We buy alcohol.  Our vendor's ethanol suppliers price a year forward. 

Wed, 12/05/2012 - 12:32 | 3035931 fourchan
fourchan's picture

my ounces laugh at these "price of ponzie paper" fluctuations.

Wed, 12/05/2012 - 11:24 | 3035484 Anasteus
Anasteus's picture

Sell paper shit and buy physical. The price cannot be better.

Idiotic Goldman Sucks... the China's best friend.

Wed, 12/05/2012 - 16:16 | 3036920 supermaxedout
supermaxedout's picture

Dreck-Sacks

Wed, 12/05/2012 - 10:23 | 3035323 GetZeeGold
GetZeeGold's picture

 

 

How much paper can we put you down for?

Wed, 12/05/2012 - 10:36 | 3035380 LawsofPhysics
LawsofPhysics's picture

As much physical as you are willing to part with.

Wed, 12/05/2012 - 10:36 | 3035387 EL INDIO
EL INDIO's picture

It ain’t even paper !

Wed, 12/05/2012 - 10:40 | 3035407 Jreb
Jreb's picture

Digital Gold....

Wed, 12/05/2012 - 10:44 | 3035427 EL INDIO
EL INDIO's picture

Zeros on a hard drive !

Wed, 12/05/2012 - 11:55 | 3035766 smlbizman
smlbizman's picture

this kinda reminds me of a horse race...one horse leads everystep of the way except the step that counts....the last one..

Wed, 12/05/2012 - 22:36 | 3038018 WmMcK
WmMcK's picture

And every great journey also ends with a single step.

Wed, 12/05/2012 - 10:42 | 3035415 Ookspay
Ookspay's picture

Keep talkin' Goldman, physical is taking off big time...

Wed, 12/05/2012 - 10:48 | 3035446 davinci7_gis
davinci7_gis's picture

Good....sell the paper and make the physical get back down to $1550 and I will simply buy more physical...like the Chinese!

Wed, 12/05/2012 - 11:24 | 3035624 HoofHearted
HoofHearted's picture

We're all (for some reason the striketrough isn't showing when it posts, but imagine the next word struck through) Keynesians Chinese now.

Wed, 12/05/2012 - 11:57 | 3035775 Mesquite
Mesquite's picture

And the South Korea cb...

 

Wed, 12/05/2012 - 11:17 | 3035590 WhiteNight123129
WhiteNight123129's picture

How to catch Goldman Sachs with its pants down?

 

IF THERE IS LESS NEED FOR THE FED TO EASE, GOLDMAN SHOULD RECOMMEND PEOPLE TO SHORT THE TREASURIES.  (LESS NEED TO REPRESS YIELDS), ARE THEY DOING THAT?

Liar pants on fire!

 

Wed, 12/05/2012 - 10:21 | 3035315 unwashedmass
unwashedmass's picture

okay, the muppets who fall for this one, really, really, really deserve to be fleeced. 

 

the moon really is made of cheese, isnt' it? 

Wed, 12/05/2012 - 10:32 | 3035367 EscapeKey
EscapeKey's picture

Everyone deserves to be fleeced, except for the primary banks in the market.

* This message has been brought to you by the SEC & CFTC.

Wed, 12/05/2012 - 10:22 | 3035318 Xibalba
Xibalba's picture

Yes please.  So we're goin $2400 soon then?

Wed, 12/05/2012 - 10:25 | 3035338 Sauk Leader
Sauk Leader's picture

Where is the Anti Goldman ETF

Wed, 12/05/2012 - 10:41 | 3035414 edifice
edifice's picture

Not there and, if it were, Goldman would own it.

Wed, 12/05/2012 - 11:18 | 3035603 mick_richfield
mick_richfield's picture

PHYS and PSLV.

Wed, 12/05/2012 - 15:06 | 3036609 FoeHammer
FoeHammer's picture

Noose Corp.

By the people, for the people.

Wed, 12/05/2012 - 10:22 | 3035319 DollarDive
DollarDive's picture

Hey citi firing 11,000.... a sure sign of economic improvement

Wed, 12/05/2012 - 10:22 | 3035322 Jacque Itch
Jacque Itch's picture

Somehow this was leaked yesterday.  Imagine that!?!?!?!?

Wed, 12/05/2012 - 10:23 | 3035328 fonzannoon
fonzannoon's picture

So is it a "generational selling opportunity"?

Wed, 12/05/2012 - 10:25 | 3035339 icanhasbailout
icanhasbailout's picture

you may never have an opportunity to get fleeced like this ever again!

Wed, 12/05/2012 - 10:34 | 3035375 Pairadimes
Pairadimes's picture

Yea, you will.

Wed, 12/05/2012 - 11:31 | 3035664 Bastiat
Bastiat's picture

.... If you have any money left.

Wed, 12/05/2012 - 10:23 | 3035331 Pairadimes
Pairadimes's picture

BTFGD.

Wed, 12/05/2012 - 10:24 | 3035333 Karlus
Karlus's picture

Makes sense. The govt should also increase corporate taxes to take advantage of the windfall coming to corporations because of economic prosperity.

More Goldman muppetry

Wed, 12/05/2012 - 10:25 | 3035334 semperfi
semperfi's picture

time to back up the truck again - thanks GSAX !!!  ;)

Wed, 12/05/2012 - 10:25 | 3035336 MeanReversion
MeanReversion's picture

So a three month target of 1825 = sell?

Wed, 12/05/2012 - 10:39 | 3035403 Beam Me Up Scotty
Beam Me Up Scotty's picture

I thought the same thing.  3 month = 1825, 6 month = 1805, 12 month =1800.  Higher prices than today, and those are some bold numbers they are predicting.  A whole $25 drop.  But, I am all for sales.  Please make it go back into the $1500's range!!! 

Wed, 12/05/2012 - 10:49 | 3035454 Al Huxley
Al Huxley's picture

I agree - dump away muppets, I'd dearly love to pay < $1500/oz, and sub $20/oz silver would be great too.

Wed, 12/05/2012 - 10:24 | 3035337 BurningFuld
BurningFuld's picture

There are two ways to make money in this world: Work hard or be morally bankrupt and lie cheat and steal.

Wed, 12/05/2012 - 10:53 | 3035486 MachoMan
MachoMan's picture

false dilemma

Wed, 12/05/2012 - 12:19 | 3035863 Panafrican Funk...
Panafrican Funktron Robot's picture

Agreed, in this country, you can make money doing absolutely nothing. 

http://www.youtube.com/watch?v=lAD6Obi7Cag

Wed, 12/05/2012 - 12:19 | 3035874 Panafrican Funk...
Panafrican Funktron Robot's picture

Sorry, always have to accompany a post of that video with a post of a much better Dire Straits song.

http://www.youtube.com/watch?v=_SEULZIHru0

Wed, 12/05/2012 - 12:31 | 3035937 Essential Nexus
Essential Nexus's picture

Yes, but to become relatively rich to others, all you must do is buy the physical now.

Wed, 12/05/2012 - 17:17 | 3037142 MachoMan
MachoMan's picture

Not likely...  that would require a perfect timing decision (when to unload), at best.  More likely is that plebs can save some semblance of our present purchasing power through physical...  but relatively rich compared to a broke dick society isn't saying much...  saving present purchasing power isn't saying much either.

Wed, 12/05/2012 - 10:26 | 3035342 wildstylechef
wildstylechef's picture

Time to fleece the Muppet's of their gold

Wed, 12/05/2012 - 10:31 | 3035366 darteaus
darteaus's picture

Just in time for Christmas!

Wed, 12/05/2012 - 10:59 | 3035503 Mad Mad Woman
Mad Mad Woman's picture

It'll be a merrier Christmas for Goldman Sachs if muppets sell. Destroy Goldman Sachs!!

Wed, 12/05/2012 - 10:26 | 3035345 Inthemix96
Inthemix96's picture

Ahem, goldman......

Go fuck yourself.  Not everyone round these here places is as green as a frogs cock.

Wed, 12/05/2012 - 10:27 | 3035347 FLUSA.com
FLUSA.com's picture

Anyone have a chart showing the corelation of gold/silver value and new money creation via fed/ecb/etc?  Every month gold/silver should automatically go up X percent due to the further debasement of the currency's purchasing power....is it? 

Wed, 12/05/2012 - 10:27 | 3035350 tetsujin
tetsujin's picture

Sell the paper, for a long golden shower.

Wed, 12/05/2012 - 10:27 | 3035351 Sabremesh
Sabremesh's picture

Have Goldman Sachs EVER got a gold call right? 

Wed, 12/05/2012 - 10:45 | 3035426 Terminus C
Terminus C's picture

every single time... it has been right for them.

Wed, 12/05/2012 - 10:50 | 3035461 Al Huxley
Al Huxley's picture

I wish I could up-vote you more than once for that one.  It really captures the whole GS ethos.

Wed, 12/05/2012 - 11:14 | 3035580 GubbermintWorker
GubbermintWorker's picture

I helped raise his total. This is really good news for gold! Almost as good as Jim Cramer telling you to sell gold!

Wed, 12/05/2012 - 11:15 | 3035589 SV
SV's picture

Precisely why I think most of these comments are funny.  They somehow think GS is stupid, blah blah, when in-fact their analyst calls are never to make their clients money.  I think ZH needs to have Cognitive D do an "Understanding Psyops Series" for those obtuse by the face value.

Wed, 12/05/2012 - 11:38 | 3035691 Cognitive Dissonance
Cognitive Dissonance's picture

The only thing worse than being manipulated via mind control is being told you're being manipulated while still being manipulated. Understanding the mind control mechanism and resisting it are to entirely different things. Many have the capacity to understand, few the ability to resist.

<The key is not to resist, but to let it flow through you. This means abandoning many beliefs (which are rarely truths) few are willing to let go of.>

Wed, 12/05/2012 - 18:24 | 3037412 RockyRacoon
RockyRacoon's picture

Good stuff, CD.  I just put that in my "quotes file".

Wed, 12/05/2012 - 10:28 | 3035354 scatterbrains
scatterbrains's picture

or is this a short term set up where should the SPX crack lower...  1250ish or so and the margin calls that will hit the pm's  temporarily will cause some fools to believe that the pm's really are finished ? The reality being at that point the pm's will be at their lowest buying points going forward the next few years ?

Wed, 12/05/2012 - 10:37 | 3035392 scatterbrains
scatterbrains's picture

that is to say,  GS knows they are taking the stock market down, and never wanting to let a crisis go to waste, wants to get everyone panicked about the pm sell off that will accompany it  and get everyone to sell right at the very bottom of the next major bull run in gold....all the while GS will be buying the pm's.

Wed, 12/05/2012 - 10:28 | 3035355 Gief Gold Plox
Gief Gold Plox's picture

I guess they're still called GOLDman for a reason.

Wed, 12/05/2012 - 10:52 | 3035480 Shleprock
Shleprock's picture

Sounds like a major buying oppurtunity is coming!!

Wed, 12/05/2012 - 10:29 | 3035356 dick cheneys ghost
dick cheneys ghost's picture

'Fuck You' was already taken, thats why they called themselves 'Golman Saks'

Wed, 12/05/2012 - 10:29 | 3035358 caimen garou
caimen garou's picture

goldman says sell, BUY, BUY, BUY! fuck GS

Wed, 12/05/2012 - 10:30 | 3035359 Mad Mohel
Mad Mohel's picture

How are those motherfuckers not in front of a firing squad yet?

Wed, 12/05/2012 - 10:32 | 3035368 Sudden Debt
Sudden Debt's picture

because they own the firing squad?

Wed, 12/05/2012 - 10:45 | 3035431 ParkAveFlasher
ParkAveFlasher's picture

Nice! +1

They also trade on the squad's pension funds.

Wed, 12/05/2012 - 10:30 | 3035361 MrBoompi
MrBoompi's picture

Hey Lloyd, ask your clients where I can back up my pickup truck.

Wed, 12/05/2012 - 10:36 | 3035362 monopoly
monopoly's picture

Time to buy more. Thank you, you fucking useless squid.

Wed, 12/05/2012 - 13:27 | 3035363 darteaus
darteaus's picture

Can there be a bigger buy signal?

You just can't make this stuff up...

Wed, 12/05/2012 - 10:31 | 3035365 Super Broccoli
Super Broccoli's picture

Sell you gold because more QE is coming ????

Wed, 12/05/2012 - 10:34 | 3035374 JailBank
JailBank's picture

If Goldman is telling people to sell that means they will be buying as soon as the price is right to them.

Wed, 12/05/2012 - 10:37 | 3035383 yogibear
yogibear's picture

LOL, right before Obama's speech to remove the debt ceiling. Perfect timing!!

 

Guess how cheap the Gold affiliates/hedgies will be picking up gold for? Amazing!

Wed, 12/05/2012 - 10:37 | 3035388 Disenchanted
Disenchanted's picture

 

 

Golem's Sacks?

 

In Jewish tradition, the golem is most widely known as an artificial creature created by magic, often to serve its creator.

Wed, 12/05/2012 - 11:46 | 3035732 mick_richfield
mick_richfield's picture

Gollum ?

Wed, 12/05/2012 - 10:38 | 3035391 Seasmoke
Seasmoke's picture

I would like to say Thank You ! To the spawn of Paulson-Corzine.

This is exactly what I was hoping for.

Wed, 12/05/2012 - 10:38 | 3035393 Dr. Engali
Dr. Engali's picture

Thanks for the advice Goldman. I'll be loading up......Improved economic outlook my ass.

Wed, 12/05/2012 - 10:38 | 3035394 SheepDog-One
SheepDog-One's picture

Golden Slacks- 'SELL GOLD!' therefore gold is about to rip higher.

Wed, 12/05/2012 - 10:38 | 3035395 Number 156
Number 156's picture

Time to buy gold.

Wed, 12/05/2012 - 10:38 | 3035396 Iam Yue2
Iam Yue2's picture

Has Russel Napier issued a call on Gold 2013 yet?

Wed, 12/05/2012 - 10:38 | 3035397 azzhatter
azzhatter's picture

Strange, I just bought 3 more coins this morning

Wed, 12/05/2012 - 10:40 | 3035408 disabledvet
disabledvet's picture

Without a doubt Goldman is on the other side of that trade.

Wed, 12/05/2012 - 10:41 | 3035411 reader2010
reader2010's picture

That must have been the research paper authored by Abby Cohen.

Wed, 12/05/2012 - 10:41 | 3035416 Mr. Magoo
Mr. Magoo's picture

Dont forget the 18,000 from hostess and Detroit going bankrupt with IL. CA. with its over 1 trillion GDP and N.Y next up on the list, yes indeed the forcast looks real bright for the future

Wed, 12/05/2012 - 10:41 | 3035417 Bansters-in-my-...
Bansters-in-my- feces's picture

Fuck yous Goldman.....
Gold is not "range bound".....
Gold is KEPT "range bound"

Fuck yous Goldmanites.

Wed, 12/05/2012 - 10:42 | 3035421 LoneStarHog
LoneStarHog's picture

Is anyone a Goldman "client"?  Does anyone know a Goldman "client"? I really, really want to see the face of one of these total idiots.  I just can't visualize what this type of moron must look like.  Does a so-called "client" have a brain?  This "client" thing really bugs the hell outta me since I can't get a visual representation.

Wed, 12/05/2012 - 13:26 | 3036191 LoneStarHog
LoneStarHog's picture

Oh look, Ma, I found me a Goldman "client".  Now I can just picture one as a Down Red Arrow, which is very apropos.

Wed, 12/05/2012 - 10:45 | 3035432 Conax
Conax's picture

This is just a heap of steaming bull shit they are trying to use to explain the smackdown still in progress.  The target here is the end of the year print.  They want the PMs (especially silver) to be lower on the 31st than they were last year, to make it all look like a bad idea, a rotten investment. 

Take a look at Kitco's historical gold chart for December '11- it started the month at 1750, ended at 1540.  

Silver got the same treatment- started at 33, ended up at 28.  So far the numbers are about the same this month.

An entire year of monetization and horrific financial news, no worries, it ends with cheaper gold and silver.

More BS from the scumbags downtown.

 

 

Wed, 12/05/2012 - 11:00 | 3035504 new game
new game's picture

timing of next add is a bitch, bitchezzzz. waiting on 30 ish.

with 27.65 close out last year, i see a very low/near flat 30 close year end. patience bitchez, patience.

MFCSers

Wed, 12/05/2012 - 14:26 | 3035854 hangemhigh
hangemhigh's picture

@ Conax      3035432

This is just a heap of steaming bull shit they are trying to use to explain the smackdown still in progress

there is lots of support under the gold price at 1670-1660.  that support consists of a 50 week  moving average, a dailly 150, a daily 200 and a daily 400....gs is talking their book encouraging muppet selling to take out that support......probable take down target is open gap in the range of 1635-1625.

Wed, 12/05/2012 - 16:48 | 3037028 Conax
Conax's picture

I just wanted to reiterate- I don't believe they will be able to tank it as easily as last year, just that they are attempting to do so.  I have no idea where it will bottom this month, but your analysis seems fairly sound.

I know I would trade a Christmas Club account full of digital confetti for a fistfull of kruges, anytime.  Blythe's temper tantrums would not put me off.

Wed, 12/05/2012 - 17:15 | 3037137 hangemhigh
hangemhigh's picture

@ Conax  3037028

I have no idea where it will bottom this month,.....

i have no idea where we wind up either....i'm like everyone else.....just wanted to get out of harms way and wound up with a ticket for a roller coaster ride................

Wed, 12/05/2012 - 10:47 | 3035442 tuttisaluti
tuttisaluti's picture

Can we sue GS for willingly misguiding investors?

 

Wed, 12/05/2012 - 10:52 | 3035448 yogibear
yogibear's picture

Want to see the metals really rip, wait until they remove the debt ceiling. Unlimited credit card. Turbo Timmy already primed the pump.

Now Obama will push for unlimited debt and no debt ceiling.

It's a bitch when Washington is addicted to credit/debt. More and more until the credit rating goes to junk.

Wed, 12/05/2012 - 10:51 | 3035464 new game
new game's picture

year end monkey hammer time

12/31/11 = 1564.95 G, 27.65 S

wouldn't want it the best performing asset class...

some fear in the air, i do get a wiff.

nice! love the smell of fear!

MFCSers...

 

 

 

Wed, 12/05/2012 - 10:53 | 3035473 The Continental
The Continental's picture

The fucking popups on this site are slowly driving me away - I am really PO'd about it.

GS is too damn shrewd to believe the crap they spew for the muppets. There is no economic growth. The US economy is disintegrating. I am on the ground and small businesses, the plankton of economic life on earth, are dying slow deaths. Business owners are bailing out in fiscal 2012 - Obamacare and the re-election of the illegal alien Manchurian candidate with the "wealth redistribution" claptrap were the final straw. No more hamster wheel for producers. They are downsizing and going to ground. They have had enough of the futility of breaking one's arse to get ahead only to have it stolen by the state to buy votes of overfed, uneducated, oversexed entitled human trash and greedy corrupt banksters. Come the second quarter 2013 and you will see the bottom fall out of tax receipts and the federal and state deficits explode higher. The REAL economy, the one that actually produces real things, is dying. The FED is buying 80% of debt now. In 2013 it will be buying it all. If you believe for an instant that a social welfare state that punishs industry and hard work and rewards theft, envy, entitlement and a consumptive lifestyle can grow and prosper, then you are a fool and deserve the coming reaping.

Wed, 12/05/2012 - 11:04 | 3035527 Captain Benny
Captain Benny's picture

Yep, there is nothing gained by them except  intrusion to the experience.   They're great at killing battery life and screen area on mobile devices as well.  

Wed, 12/05/2012 - 11:05 | 3035532 Conax
Conax's picture

Hi, man. A word on popups- Run Firefox with ad-block (an add on) and there will be no popups at all.

I agree, the Main street economy is dying- but could the PTB deliberately screw the economy if that's what it takes to get people frightened of the bogeyman of deflation?  Would these shitheads really gut it just to make their market props so important they can kick them out and crash the entire thing at a moment's notice, thereby repossessing farms, homes, businesses and vacuuming up all the cheap PMs at the same time?

Is this another shearing of the sheep like they did in the 1930s?  Only the blankfein knows.

 

Wed, 12/05/2012 - 11:10 | 3035559 Hubbs
Hubbs's picture

What a magnificent rant.  Couldn't have sunmmarized it better.

Wed, 12/05/2012 - 13:04 | 3036096 bgbarrelridr
bgbarrelridr's picture

Use firefox, with ad-blocker and this freeware:

 

http://noscript.net/

Wed, 12/05/2012 - 15:20 | 3036670 Diogenes
Diogenes's picture

"The fucking popups on this site are slowly driving me away - I am really PO'd about it."

I keep a couple of sheets of tnfoil by my monitor to drape over the left and right sides as necessary.

Tinfoil is not just for hats anymore. It can block annoying ads too.

Wed, 12/05/2012 - 10:52 | 3035477 Bastiat
Bastiat's picture

Just the other day saw a photo of Lord Bankfiend himself leaving the whitehouse with SS escort past the press.

Wed, 12/05/2012 - 10:53 | 3035478 Bastiat
Bastiat's picture

Fat finger; deleted.

Wed, 12/05/2012 - 10:55 | 3035492 Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

 

Goldman Sachs is.....

BUUUUUUUYIIIIIING!!!!!!!

 

Tuco

Wed, 12/05/2012 - 10:56 | 3035493 CheapBastard
CheapBastard's picture

"The Bank of Korea increased gold reserves 20% last month to diversify investments, boosting holdings for the fourth time since June 2011 and underscoring increased demand by central banks according to Bloomberg. The bank added 14 metric tons in November, bringing the total to 84.4 tons, the bank said in a statement today. By value, holdings increased about $780 million to $3.76 billion, equivalent to 1.2% of total reserves, the bank said. “Gold is a physical, safe asset,” the Bank of Korea said in the statement. The precious metal “is a way of diversification, which helps reduce investment risk in terms of foreign-exchange reserves management,” it said. The Bank of Korea bought 16 tons in July, 15 tons in November 2011 a further 25 tons over a one-month period from June to July last year."

Wed, 12/05/2012 - 11:42 | 3035709 Bay of Pigs
Bay of Pigs's picture

“Gold is a physical, safe asset”

Did Goldman miss that part?

Wed, 12/05/2012 - 11:53 | 3035758 JonNadler
JonNadler's picture

a "safe" asset? I look at my safe and there's no gold in it, the whole Kitco pool account safe

Wed, 12/05/2012 - 10:57 | 3035498 Satan
Satan's picture

Im still laughing at the headline!

Wed, 12/05/2012 - 11:04 | 3035530 Hubbs
Hubbs's picture

Phew! How relieved to know that if Goldman says sell, then it must be a good timne to start buying.  Thanks for the heads up Tyler.

Wed, 12/05/2012 - 11:05 | 3035533 Bastiat
Bastiat's picture

Goldman's real clients get a magic decoder ring.

Wed, 12/05/2012 - 11:07 | 3035549 Flaming Ferrari
Flaming Ferrari's picture

Dogmatic believe in any investment thesis is niave. Gold does not HAVE to go up over the long term. Everyone loves to hate GS but the fact is their analysis COULD be right.

Wed, 12/05/2012 - 11:20 | 3035608 Bastiat
Bastiat's picture

Goldman gives the muppets good advice?  Talk about a fat tail!

Wed, 12/05/2012 - 11:15 | 3035584 Platinum_Investor
Platinum_Investor's picture

I recall in 2011 all the major banks came out and said to BUY GOLD.  With calls of $2200-2500.  I was so excited at this call.  Well that was the peak in Gold it went down 1 month after that and has been sideways since.

Goldman says SELL GOLD?  You get a bit nervous at first, just like I was excited by the BUY GOLD call at first.  But If this is like the 2011 call by all the banks in the same 2-3 week period then this will propell us to $2000 in the coming months.

Wed, 12/05/2012 - 11:15 | 3035587 AR15AU
AR15AU's picture

Does the letter from goldman say anything about the debt ceiling being raised?  QE3++?  The Bond Bubble?  

They can't literally be selling "green shoots" to their muppets can they?!?!?!?!

Wed, 12/05/2012 - 11:22 | 3035617 WhiteNight123129
WhiteNight123129's picture

Goldman should recommend to short treasuries if the Fed needs less printing, FUCKING LOGICAL FAILURE BLATANT HERE PEOPLE!

 

Wed, 12/05/2012 - 11:24 | 3035629 dbTX
dbTX's picture

Goldman must be short gold

Wed, 12/05/2012 - 14:30 | 3036444 Antifederalist
Antifederalist's picture

And looking to cover.

Wed, 12/05/2012 - 11:33 | 3035672 JonNadler
JonNadler's picture

I told these idiots not to say this anymore as everybody rushes to buy more physical everytime they open their stupid mouth and the little gold we have at Kitco dissapears, Oh my, my gold pool accounts, my poor, "poor" pool accounts.  

Wed, 12/05/2012 - 11:35 | 3035677 metastar
metastar's picture

Buy! Buy! Buy!

cramer sound board: http://www.cnbc.com/id/100000942

Wed, 12/05/2012 - 11:39 | 3035682 Tombstone
Tombstone's picture

In the interest of making profits, GS, like all brokers, must fleece the average "Joe investor" and then entice him back into the market to be taken again.  This is how the big boys make book.  You can bet that GS is doing the exact opposite of what they telegraph to the world.  If the economy improves that much, interest rates will tick higher, bonds will sell off and the the deficit will still rise because of the higher cost to finance it.  Thus, more QE is likely baked into the game of keeping the false currency afloat.  But, just in case gold becomes obsolete, I am stocking up on Pet Rocks and pyrite.

Wed, 12/05/2012 - 11:44 | 3035710 FiatFapper
FiatFapper's picture

Once bitten, twice shy; are there any GS clients who aren't rabid from the tentacular bites?

Wed, 12/05/2012 - 11:51 | 3035751 mick_richfield
mick_richfield's picture

The most terrible truth is that there are people who have accustomed themselves to that clammy embrace.

There are people who aspire to grow such tentacles upon themselves.

Cthulhu n'Ryleah a'ftagh.

 

Wed, 12/05/2012 - 15:24 | 3036691 Diogenes
Diogenes's picture

"Once bitten, twice shy; are there any GS clients who aren't rabid from the tentacular bites?"

You can fleece a sheep every year. But you can only skin him once.

                                                                                                         - old con man's proverb

Wed, 12/05/2012 - 11:47 | 3035731 SanOvaBeach
SanOvaBeach's picture

If u really know what is going to happen, you can become a billionarie!  I'm keep'in my PM's none the less and GS can fuck themselves.

Wed, 12/05/2012 - 11:52 | 3035754 Bastiat009
Bastiat009's picture

I will NEVER believe or trust Goldman Sachs, or any other companies that can only survive thanks to bailouts paid by me, but that said, gold is once again falling fast. I for one don't know what will happen but I know that has happened or is happening and for now I see that QE3 has had no effect on gold or on the US$ just like the eurozone crisis has had very little on the euro.

Don't ask me why, don't ask me how.

Goldman is a company run by crooks and employing young immature people with very little culture.

Wed, 12/05/2012 - 11:59 | 3035755 TomGa
TomGa's picture

"Improving US Growth Outlook"??  Easy to say as Goldman slashes its expectations for Q4 GDP to 1%.  Long term growth, doubtful.

 

Business Insider, Dec 5, 2012

 

"The latest data has prompted Goldman to cut its Q4 GDP forecast. It now sees just 1% growth." "As a result of our analysis, we have cut our tracking estimate of Q4 real GDP growth from 1.3% to 1.0%."

 

http://www.businessinsider.com/goldman-slashes-q4-gdp-forecast-to-just-1...

Wed, 12/05/2012 - 12:02 | 3035801 Mesquite
Mesquite's picture

If Goldman Sachs suggests it....

Great track record they have....

Long record too...

Hmmm

Wed, 12/05/2012 - 12:09 | 3035831 antidisestablis...
antidisestablishmentarianismishness's picture

If GS had said to buy gold would any of you be selling it?

Wed, 12/05/2012 - 12:27 | 3035903 tradewithdave
tradewithdave's picture

Maybe a more germaine rhetorical question relative to GS ability to predict the future would be:

If Goldman Sachs told you that someone found a fully functional laptop in a garbage room in downtown New York, would you believe that the person who discovered it was able to login to the email account and identify the owner?  Of course you would.  

Next question.   

Wed, 12/05/2012 - 13:36 | 3036226 lakecity55
lakecity55's picture

They would bite off their own testicles before they ever said that.

Wed, 12/05/2012 - 12:13 | 3035844 tradewithdave
tradewithdave's picture

If snake bites are so violent, then why do they use a snake on the logo at my doctor's office.  Are they looking for business? 

Silver heal thyself. 

http://tradewithdave.com/?p=14000

Wed, 12/05/2012 - 12:18 | 3035861 Intoxicologist
Intoxicologist's picture

My expanded modeling suggests that Goldman's recommendations are equivalent to the bucket of barn litter I cleaned out of my chicken coop yesterday.

Scratch that.  That barn litter will help produce black gold next spring in my compost heap.  My vegetable garden will not be Muppetized!

Wed, 12/05/2012 - 12:19 | 3035870 jmcadg
jmcadg's picture

Fuck, not yet, I'm not in a position to buy phyzz.

Hold back on your muppetry for a few weeks.

 

Wed, 12/05/2012 - 12:21 | 3035881 Glass Seagull
Glass Seagull's picture

Local (in a city with population in the 7-figures) bullion dealers getting "cleaned out."  Say resupply is slow as well.  Safe sales are also ramping.  

 

SELL!!  

Wed, 12/05/2012 - 12:30 | 3035915 Confundido
Confundido's picture

I shall not sell. When I think of my grandma, when she was young, it was worth $20.67/oz....If I die, will AAPL still be around as a going concern? Not sure. Gold? Of course. Buy real estate instead? 6,000 years of jewish survival tells me that real estate is not the way to go. You need mobility. Just like they escaped Assyria, Egypt, Jerusalem, Alexandria, etc. today, we will need to escape too. 

Wed, 12/05/2012 - 13:21 | 3036152 The Continental
The Continental's picture

Exactly, my ambiguously Hebraic ZH compatriot!

Gold! It is the only real option for wealth preservation now more than ever. Never before has the world built such a bubble of paper debt and derivatives. Never before has government been so rapacious and simultaneously so capable of manipulating the markets and stealing wealth and property through taxation, inflation and regulation. Never before have we had ZIRP and such massive monetization for years with no end in sight. The entire world is living off wealth borrowed from future decades. If you are holding your wealth in paper, you are holding one of those IOUs from the future and it is printed in flash paper. Your IOU will not be redeemed for present value - you'll be lucky to get anything of value for it. You must hold gold.

What astounds me is that gold has not already exploded in price. The bankers and government have done an outstanding job dumbing down 99% of the population about what is money and why gold is so special in that regard. What is more astounding is that the present gold bull is being driven entirely by only 1% of the population, those intelligent and couragous enough to invest based on facts, history and common sense, not the unfounded gibberish and misinformation of MSM talking heads and self-serving corrupt politicians. When that 1% becomes 5%, we will see a gold price for the history books.

Wed, 12/05/2012 - 15:28 | 3036711 Diogenes
Diogenes's picture

I'm told the Babylonian  Talmud advises to invest 1/3 of your money in land (real estate) , 1/3 in business (stocks) and 1/3 in gold.

Do NOT follow this link or you will be banned from the site!