This page has been archived and commenting is disabled.
The Other "Mint" Campaign Starts Off With A Bang: US Mint Sells 50,000 Ounces Of Gold On First Day Of Year
And we're off to the races. Despite, or maybe thanks to, the relentless collapse in paper gold prices, US retail continues to ignore the day to day fluctuations in the stated value of the shiny metal (most of it driven by the BIS' Benoit Gilson), and instead has learned to take advantage of every drop to BTFD. As the US mint website reports, the very first day of 2013 saw a whopping 50,000 gold ounce sales, and another 7,000 on the second, which is nearly the entire amount sold by the mint in December, and just shy of half in all of January 2012. Which in turn means that gold raids are now becoming counterproductive: instead of disincentivizing retail purchases, they are merely accelerating them, in the process leading to ever more paper to physical currency conversion. The "trillion dollar platinum coin" may well be the dumbest idea around, but the "one ounce gold coin" idea is rapidly becoming the most popular one, shared by all who see that the only possible outcome for the "developed world" is more ceaseless devaluation of every paper currency in the world.
(h/t Alex Gloy)
»
- 32788 reads
- Printer-friendly version
- Send to friend
- advertisements -
Merry New Year bitchez
FROM PNC BANK:
A number of banks in the U.S., including PNC, are seeing an unusually high volume of traffic at their Internet connections. This volume of traffic is consistent with threatened cyber attacks on the U.S. banking system and is designed to cause access delays for legitimate internet customers. For several weeks, PNC has taken steps to block this traffic and maintain online and mobile banking access for the vast majority of its customers. In some cases, those measures also may have blocked access to a small percentage of legitimate PNC customers for an extended period. We sincerely apologize to those affected.------------
Joe LIBORman discusses the Internet Kill Switch and pleads the case in the event of a banking cyber attack:
http://www.youtube.com/watch?v=ttvuSqaxF-c
The ATM's are still working fine.
How about an 'after dinner' mint?
It's waffer thin.
http://www.youtube.com/watch?v=rXH_12QWWg8
Can't eat gold.
Gold is valuable only in a City-Statist (Civilization) society.
but you can eat frn's.......dick
He's just a "PaperBug"
Paperbugs and Goldbugs are both slightly-varied City-Statist positions, about as different as communism vs socialism.
Neither paper nor gold are worth anything except in City-Statism (Civilization.)
2013 will go down in history as the year the dealers could not keep Guns or Gold on their shelves
end-year bonus = January barbarous relics for tradition
golds future is enevitable, as is the paper dollar.
The year has barely started, yet I think you are making a great observation. I intend to be part of the shelves-cleaning process.
2013 -- the year everyone pulls their heads out their asses? Maybe not everyone, but it looks like more are waking up.
What holds me back from much optimism is the FACT that Obama was re-elected, HE is what America wants.
Reminds me quite a lot of 2009! There was no physical to be found, and my favorite gun store had a huge Obama poster labelled "Salesman of the year!" And it was a pain to find ammo for range practice those days! The store owner sure cleaned up though; told me that he switched his investment strategy from stocks and bonds to ammo and clips.
I don't know about you but I live in civlization. I imagine I will still be living in civilization tomorrow, and the next day. I imagine you live in civilization as well, or you wouldn't be able to rant away on your keyboard condemning the structure that provided that keyboard, and computer, and ISP.
The price of "civilization" will soon be akin to accepting abject slavery. The continuance of our current concept of Liberty, (inalienable God-given rights), is contingent upon surplus resources.
We have two paths going forward which include the above or a calamitous collapse which gives the possibility of Liberty being reborn somewhere beyond our lifetimes.
But we really don't have a choice. All complex civilizations fail spectacularly. This coming collapse will outdo all of the previous ones by far.
So there is a silver lining, but not in our lifetimes. While it is over for those of us who love Liberty the grasping oligarchs will seek to hold back the coming anarchy not for the sake of the people, but for the sake of their privileged positions.
If you want to prosper before the collapse, you must suck up to those that you previously despised and betray everything that you ever held dear.
You are just mad because you never developed money in Civ-4 and the Zulus kicked your butt.
What a great flashback. Countless hours wasted. Loads of fun, though!
mint sales are not driven by demand
put yourself in their position .. you are a monopoly .. all your shiny rounds are bought by the authorized purchases .. *you* determine the monthly and yearly sales figures
for example, note the 2011 total sales for au
http://www.usmint.gov/mint_programs/american_eagles/?action=sales&year=2011
exactly 1 million
and note the monthly sales are thousands (000) or half-thousands (500)
supplier-driven
With respect to the demand side, their gold suppression strategy is working almost as well as their gun control strategy.
Can't eat gold.
that's my boy!
To those who claim you can't eat gold; this is true. At the same time, you can't make teeth out of paper.
There it is. Been waiting for days for that line. Thanks for the morning chuckle.
Edit: heh heh heh, Hee Hee Hee, HOO HOO HOO, HA HA HA HA HA!
I can't eat gold, but I'm eating up this fucking dip.
Another fool who thinks that society and government are the same thing.
Wrong, fuckwit.
Society has been around for millions of years.
City-Statism (Civilization), the only human society to have "government" (State) has been around only a few thousand years on the globe, and only a few hundred years on the continent I live on.
Go ahead, try again, City-Statist.
Sorry Ivymike, you're the fuckwit dude.
"Gold is valuable only in a City-Statist (Civilization) society"
Is trade a hallmark of Civilization? Because easily transportable but highly valuable goods - functioning also as money - were immediately useful for trade
Salt - one of the first commodities used as money - comes to mind
btw I am a Statist, for ZH standards, and I find your "City-Statist" term quite endearing, actually
Yeah but you can't eat salt.
"Society has been around for millions of years."
Wot? When and where?
Why.....a long time ago in a galaxy far far away.
The farce is strong in this one.
AnAnonymous says, "U.S. citizisem"
LetThemEatRand says, "Randian"
IvyMike says, "City-Statist"
You 3 are really weird.
Yeah, those three are oddballs here at ZH. Hey, but it's cool...!
Selfish and greedy, blobbing-up US 'american', anti-homo habilis, unnatural, agricultural city-statist citizenism is the mattering thing, the crustiest bit of an important can-kicking something.
Are you another form of MDB clone? What nonsense do you speak? City civilization isn’t going away any time soon. Tribalism’s days are over, the world has been transformed – not just humans but all the animals & diseases around us.
If the world reverts to a “before cities” state it’s game over for the species. Evolution may carry forward the gene-line into another species but humans as we know it would be done.
As for relevance to the article & to Zerohedge in general your only claim to adherence is “on a long enough time line everyone’s survival rate drops to zero”
Well, good for you, then, for pointing out the completely obvious.
....but you can shit it.
http://www.huffingtonpost.com/2012/12/10/gold-poop-pills-tobias-wong_n_2...
Naturally, this requires eating it first. I suppose there are other methods.
IvyMike, have you visited lately?
Here ya go fucko:
http://ediblegold.com/
Bullion sales from the US Mint fluctuate drastically.
For instance, over this same period, the Mint has SOLD NO SILVER BULLION WHATSOEVER:
http://www.usmint.gov/mint_programs/american_eagles/?action=sales&year=2013
And the sales of America The Beautiful 5-Ounce Silver Bullion Coins has been dropping since 2010:
http://www.coinnews.net/2012/12/28/us-mint-sales-cleveland-products-debut-commemorative-coins-rise/
With such low mintages, these will have some serious numismatic value in years to come...
The US Mint has not sold any silver Eagles this month because they are not releasing them to the dealers until 1/13/13.
I am a dealer and bullion sales have gone through the roof since BO got a 2nd term.
Exactly.
US Mint sales often fluctuate based on availability.
However, 2012 Gold sales are the lowest since 2007, and 2012 silver sales are the lowest since 2009:
http://www.usmint.gov/mint_programs/american_eagles/?action=sales&year=2007
By the way, how are those 5-ounce Atb bullion coins selling?
[Don't get me wrong; I'm taking advantage of the low prices to add to my stacks, but there's no arguing with US Mint Statistics: sales of bullion have dropped in recent years...]
just like guns
I'll take Guns and Gold for $5000, Alex.
Don't forget the WSJ hit piece on gold from yesterday: U.S. Mint Gold-Coin Sales Fell 25% in 2012
http://online.wsj.com/article/SB1000142412788732387420457821942177743253...
Sorry, but numismatics are a waste of time. It makes more sense to pool the money you save passing on the premium and accumulating more ounces.
numismatics are a pretty dangerous game, unless you've devoted your life to them, you're in the dark
Didn't the Mint do something like this last year? Maybe with silver? There was a big report after the new year and people were suspecting that the sales actually should have been on the December 2010 report which would have made it huge.
DOS attacks are, well, pretty lame.
So why isn't "unusually high volume" of market quote traffic consistent with HFT cyber attacks? I can deluge the exchanges with quotes, but PNC's site is off limits.
Sounds great.
US Mint is playing games with the sales report - no way they sold 50k on the first day of the year. These are from DEC moved into JAN to prevent the DEC monthly sales report from being even higher.
Big question is, what will be the silver sales numbers when the mint resumes selling silver on 1/7. Engineered price drop to buy the blanks? Dont know but i'm seeing silver A LOT higher by month end...
no way they sold 50k on the first day of the year.
Sure there is,IF they had 50, w/ over 3000 million folks and Foreigners wanting them, easy to move 50k, just the dealer backlogs of orders is likely unreal.
that's not impossible at all; it's around $825 for 100,000 people on average. 100k people is less than 0.4% of the population.
Definite games - part of the effort to paint year-end stats. You can't close out 2012 with gold and silver up substantially higher and with December mint sales through the roof compared to the previous year so....... the COMEX price behavior over the past few weeks ahs been trranparently manipulative.
As for the mint - I had an order in for a gold proof set in December expecting delivery for X-Mas - the mint sat on THAT for far longer than usual. It was 'on hold' for December and then processed and shipped just after the new year started. I expect you had a lot of that with gold coin orders.
Given the price of silver of late, it's funny how silver prices have been set far HIGHER than you'd expect (given past practice) for next year on Silver Eagle Proofs and ATB 5 ouncers as well as silver proof sets. Seems like the Mint is expecting higher silver prices (and doesn't want to go through multiple shut downs for repricing - gold is priced off London weekly prices but silver is not adjusted automatically).
apmex not delivering 2013 eagles until 1/13. Is this all to display the popularity of gold, thereby downplaying the real move: silver?
Not buying more gold until $1500.
When you consider where gold is going , who gives a shit about a hundred bucks?
C'mon Doc, when surrounded by trees it can be hard to see the forest. ;)
So Slaughterer, you're not buying any more Gold. So what is your point?
edit: After considering it, I realized that I actually AM greedy enough to care about saving even a couple of hundred bucks.
But then I already have a core position. For the people joining the party late, trying to time it could be problematic.
+ $1650, + $1700, + $1800, + $2000, + $whatever
Correct Dr. Engali. Physical gold is cheap now. Buy accordingly.
You may not see that price again.
The FED would have us believe that it is considering tightening while at the same time they increased their QE to nearly $100 billion a month ! WTF !
I prefer to base my decisions on actual facts, and right now it's + $100 billion a month. Everything else is BS.
I’m BTFD.
(Silver is very hot right now. It is a better buy.)
While you are right that we may not see it again, if you believe 2013 to be a year of reckoning for US dollar, it's a good possibility IMO. I think there will be a big slam by TPTB prior to the big boom. A last ditch effort, so to speak. If it comes in 2013, against the backdrop of the current price range, $1500 is possible. The only problem with trying to buy during the "big slam" is that a lot of people are waiting for the same time, and supply could be hard to come by.
Thanks trav Happy new Year to you too.
The article doesn't explain why Silver Eagle are dropping in sales. Here is why. Excerpt from an interview with James Turk at Kingworld
"...the US Mint stopped selling silver eagles. There are only two alternatives to explain it and both are bullish. Either they don’t have any physical silver, or they don’t want to sell what they do have at such a low price. As I said, either case is extremely bullish for silver.
So while the central planners may win the occasional battle or two, like the one being waged over the past couple of months, they are clearly losing the war. ..."
Silver Eagle sales dropped because the Mint stopped selling 2012 BULLION coins to dealers and will not be selling 2013 BULLION coins until January. The Mint also 'sold out' of Silver Eagle Proof sets and other Silver proof sets - leaving little available for purchase late in December.
But this morning they told me that gold is good for nothing... who is buying all those?
you might want to add that there's no Silver Eagles being sold, simply because they RAN OUT prematurely!
Liars are great diversions. In the mean time they talk the metals down and load up. They know.
ding ding ding ding ding ding
We have a winner!
This is how a government runs a business.....they don´t think ahead...they do not care about the customer..when sales are good they do not ramp up...they just quit when they want to...a government company...lol
Sincere question for fellow real money purchasers. Why are people buying current mint rather than pre-'33? I much prefer the latter as it is "off the grid". Why would anyone want to report? At some point, BHO will send the troops to collect it and they'll have a list of where to go provided by the Mint. TIA.
Not to ridicule your sincere question, but it sincerely deserves ridicule. Was this sarcasm?
How much more "off the grid" can you get than an Eagle buried in under the woodpile in Eastern KY? Send all of the troops you want, you're not going to find it.
As for BHO's "send the troops"...you mean the troops that have spent the last twelve years in a no-win situation? Or are you talking about a new, Brown Shirt organization that would be tasked with this, and very possibly face incoming small-arms fire from their fellow citizens? Get real.
I don't own any real money since my terrible boating accident, but those I know who do are also avid and capable riflemen, a few of which are veterans. They tell me that the Pre-'33's aren't worth the premium.
Killtruck, there's no sarcasm in my question. Bullion transactions which, as I understand includes newly minted eagles, fall under 1099-B reporting for single transaction purchases greater than $10,000 or for a series of purchases aggregating more then $10,000 from the same dealer. Buying pre-'33 gold DE's is not reportable for any amount. So why would one go the route of requiring a 1099 to be filed for the purchase when that can be avoided altogether? And, as for your comment about not justifying the mark-up, you can buy MS-62 certified by PCGS or NGC for a smaller mark-up than what you're paying for a newly-minted eagle from the Mint. Do the math. I have, so I know I'm right. But my question still stands.
by law Silver and Gold Eagle (as well as Buffalo I believe) transactions are NOT reportable though I have no doubt that Big Brother can get records if they wish.
Buying common 'collectible' coins if all you want is physical is more expensive.
Side note: I have to wonder how in China you can buy physical for minimal premiums while here you have a nice mark-up on both gold and silver coins.
Thanks for your response. I was of the understanding (apparently wrongly) that gold and silver eagles qualify as bullion purchases that have to be reported. That's why I've focused on pre-'33 and cull 90% silver. Cull silver halves can be had for less than a 6% M/U to spot, while the pre-'33 DE's run a 22-24% M/U, although you can get them cheaper if you buy them without certification. Since I naturally don't trust people, I only buy those that have been certified. So prices, based on metal content, are equal to or lower than new gold eagles.
FL - My point didn't have anything to do with the math, which I won't argue with you. Personally, I look at it as "different strokes for different folks" - buy what you want.
My point was directed at the idea that anyone would come and try to confiscate your personal property. There are several problems with this, but chiefly, WHO is going to go door to door, risking life and limb to try and steal (int he name of the gov't) from those who (by their very nature) do not trust the government. And even then, assuming that you did get to the door, actually finding the stuff (buried under the woodpile) is a completely new issue.
If you want to buy pre-'33, go for it. They look very pretty, and I enjoy the historical significance. But I don't think that buying it in the hopes of avoiding a confiscation is a very good reason, if for no other reason than what the existence of those Pre-'33 coins proves - it's as "off-the-grid" as you can get , even back then.
If the trillion dollar platinum coin doesn't have a pic of the Bernank on it it would be truly unAmerican. Long live the King!
The coin will have a 'Cock' on one side and an 'Anyus' on the other:
Heads or Tails, it doesn't matter, we're so fucked.
"Cockus En Anyusum Sans Greecium"
How about a huge cock going through the side of Bernanke's tiny head?
let's pray banzai7 is listening
Thank you Blythe...keep selling that paper. I appreciate the discount.
She one good biach.
She's a cunt that still deserves the rope.
I didn't realize WTI would gain on a countrywide tax increase
Well let's ask the class -- why would a commodity in steady supply increase in price? Hmmm? Any Hermione Grangers out there?
Well, it seems they ARE having a fabulous sale...
Super extended Boxing week clearance event. Everything has to go.... including your 401K, pension plans and the kitchen sink.
TRADITION!!!!!!!!!!!
disclaimer: Silver and Gold are on sale again...C'ya at the dealers...........
Official Gold, bitchez?
Is that why gold is going to 1400?
*14,000*
Sure sheepdoggie, agreed, 1400 THEN 14,000.
http://abcnews.go.com/blogs/politics/2013/01/trillion-dollar-coins-the-ultimate-debt-ceiling-end-around/
We have totally lost our minds.
They'd even bust up laughing in Zimbabwe over that one.
If you think that's funny, wait until the counterfeits start to appear. At that rate just use real platinum!
Counterfeits 'start' to appear? You must live in a cave, China for 1 has been busted with fake Pandas, and even fake gold from a trusted Swiss source. Who ever said every coin out there is real and legit?
Phil, we haven't even gone to first base yet on Lover's Lane. Mere fondling anywhere at these levels. First base once we break through $2,500. Second base is $50,000 and then of course it will be a "short" few "ups" and "downs" before we come out at the other end with a new currency.
Has to be. There is no alternative. Ben doesn't wear any protection.
We need to clean out the weak hands in gold before we can get the smooth easy run up to dizzy heights.
Good luck with that strategy. No weak hands on ZH as far as I can tell.
What about institutional investors invested in the GLD? There's a lot of paper gold that needs clearing out.
Is that why gold is going to 1400?
ONE can only HOPE!!!!!!!!!!!!!!!!!
Maybe the mint is out of silver coins? 0 oz. of silver inthe face of this massive buying of gold is a bit strange.
Maybe the mint is out of silver coins?
Yes, they ran out a week or two ago. There were stories on it.
the mint may have run out of 2012 silver eagles which is no surprise, after all it is the end of the year. it is planned this way.
but you can still buy 2012 silver eagles at most coin shops.
Interesting that this demand is not reflected in the paper price. Further confirmation that there are no markets and true price discovery will not be allowed in any "public" market.
not really.
given these times, would you not be desperate to get rid of your paper gold, even at lower price; or at a loss, to get the phyz from your dealer for the proceeds from selling your paper gold? it makes perfect sense to me.
Exactly my point. Broken markets... go long any physical asset of real value that can not be devalued or stolen by the current fascists in control. While fraud is the status quo, possession is the law.
Ah, the plot thickens... So if paper-AU is dropping, it's not competing with fiat-$, and a fiat collapse is averted or delayed.
You've also 'spanked' the so-called Gold Speculators, who may have bought at higher levels (say, >$1700-1775) and were hoping for $1800-2000 levels, and thus dissuaded others from joining in the foreseeable future. And I'll bet that Jim Rickards didn't see this coming in his Currency Wars. Or, if he did, it was privately, and he isn't "outing" the rats publicly.
All in all, my wager is, that it's all about keeping the Reserve Currency Status (RCS) of the fiat-USD. Because, as long as you have that 'priceless' RCS status, you can finance all sort of sh*t out of thin air. And whatever social and geopolitical plans & schemes can continue for a NWO. Hmm.
www.truthinaccounting.org
And the rest of the money that wasn't buying gold, was buying guns, ammo and clips....
And the rest of the money that wasn't buying gold, was buying guns, ammo and *magazines....
There, fixed it for you.
Well maybe him and friends have M1 Garands. Just sayin'.
2013 Silver Eagles are not for sale until the 17th. I think.
Anyone know if its possible to find sales figures for Canada Mint and for Austrian Philharmonikers? My coin site of choice (in Germany) has been selling 2013 coins since mid December.
...on pre-order.
My first batch of 2013 Maples from a German site was actually finally shipped out yesterday.
just depends. i bought both a 2013 kookaburra and a 2013 britannia in December and received both before Jan 1.
They are always for sale brah... Thank you Blythe and Jamie!!! Thanks for giving us one of the best "investments" of a lifetime! I'll need every ounce after this paper confetti game is up!
I like my personal security shiny and round.
Full metal jacket?
I left plenty of room for the imagination to fill. :)
Hollow point, then?
I love unintended consequences.
Insteand of disincentivizing people from buying PMs by intentionally suppressing the price it has caused people to just buy more of it at the artifically (controlled) low price!
Fuck you assholes, we can play the game too!
IMHO the game is not necessarily to provoke disincentive within those who already "believe" in PMs (though that is a side benefit if it works) but rather to keep those on the fence from jumping over as well as to make sure that those who are convinced that Gold is silly remain convinced.
The game is won or lost at the margins.
Now with Chinese arbitrage, they don't even have the luxury of defaulting on the COMEX instead of paying out the gold they owe. China gets what China buys or they take something of yours in China.
Gartman says gold is finished and the fed is god.
Clearly that is the case with gold, for the minutes of the FOMC’s last meeting have shaken the hopes of the most violent “Gold Bugs” malevolently, and have shaken our gold position rather materially...
violent gold bugs? lulz lulz lulz
I'm sure they want to place gold bugs under 'Perfect Citizen Act' scrutiny....2 a.m. drone strike on your house if the govt deems you 'not perfect'.
N: NDAA, "Perfect Citizen", Fiscal Cliff up the butt and MORE! - YouTube
This is how things happen time after time while everyone is worried about the pebble in their own shoe, or a 1% +- 'market' direction, they wake up in a totalitarian fascist Democidal nightmare.
In 1984, the "make you perfect" just before they put a bullet in your head.
Gartman needs to explain how the fed will be able to acheive just a stagnant balance sheet. As soon as the market recognizes that QE is over, watch out. 20-30 percent innitial drop in stocks would be for sure just based off the lack of flowing funds. And once the stock market drop, benny boy, shifts back into 5th gear and continues the printing press. No freaking way the bernank stops the monthly hit of qe.
"And once the stock market drop, benny boy, shifts back into 5th gear and continues the printing press. No freaking way the bernank stops the monthly hit of qe."
That's right. Fed's been the only game in town. He stops and the bottom drops out. He and rest of the members know that.
It's all smoke and mirrors now.
Gartman.... obviously thinks they are going to unprint $16 trillion and not print another Trillion each year to keep the USA out of debtors prison.
The gold market exists to make Gartman look like a fool.
Just think of the profits they'll make when they're revalued to $1trillion each. Hahahahaha.
Gold is not money just like the Fed isn't monetizing debt.
The enormity of the debt and how the US is addressing it (it isn't).
More Fed lip service diversion to buy time, in the meantime just continuing to monetize.
I agree..people are buying...countries are buying...central banks are buying......the big price drops are just paper players....the casino....in the end real gold and silver will be in big demand...big demand..and there will be paper defaults..only payable in paper
Fed is very worried the US dollar will be dumped. So their trying tio buy more time for the debt ceiling talks.
Funny how we never hear of the Fed buying gold to presumably back their currency again at some point...only other central banks around the world. In other news, no cuts at the Pentagon. I think it's obvious how this will play out.
The 'FED' may or may not own gold, in any case, I believe pretty much all the assets of the country are collateral for all the money they loan to the govt. In any case, I'm pretty sure if you were somehow able to look into it, you'd find that the individuals who own the FED, or their family trusts, have PLENTY of gold, locked safely away in private family vaults. Just a guess...
If so, then they can BTFD, using paper fiat, right? Now that's Alchemy: Paper or Digital Money into real, hard gold!
Why, at this rate, there might soon be enough to build/rebuild a... Temple in a nice climate?
I sold me gold today.. via CEF at 21.00 .. we got one last break down this year is my guess.
if you can't take the pain get out of the dentist's office i always say
WOW even ZH crowd are accepting that GOld has one more downdraft, And seeing that folks here are accepting that idea, I think the bottom is in for Gold.
Prob the same ppl that have been BTFD since $1950
Physical demand is always up, but where are the suuply shortages????
If a delivery failure is the only thing that can stop the paper raids, when is that forcasted?
How many more GATA articles do I have to endure about pending supply shortages??? They never physciallly materialize.
It can only mean one thing. As great as physical demand is, it has not outpaced mining supply. Yet.
In my opinion Benoit Gilson is just a cock-puppet of his masters who would send him to an arse raping prison if he refused to corrupt the gold market they way they want.
I supose he likes to be raped by his masters for money than by prisoners.
Likewise that silver manipulating slag in the USA.
Must I say it? BTFD bitchez.
You get a 1% discount when purchasing if you tell them your address and the room in which you'll keep the precious. It makes it easier for them to repo when the SHTF.
Silver is on a fire sale.
Step 1: Short AGQ
Step 2: Buy Physical
Step 3: ???????
Step 4: Profit
Beware of the Franklin Roosevelt curse on gold : private ownership restrictions, confiscation; all on a Friday night. Buy silver and platinum.
LOL, manipulation and Fed gum flapping.
Fed has to push rates back down with all the debt.
FOMC is buying time and hoping for a resolution to the debt ceiling.
Resolution will be a new ceiling of $20/$19 trillion.
Extend and pretend.
And when we breach that ceiling in 2 or 3 years from now?
Spending 1.6 trilllion more than they take in?
Austerity? Not freakin' likely with the latest round of pork filled bills and Congress' pay raise.
We have an election next year....they will not give enough to go past that...I see a 1 year deal
Physical is the most perfect weapon against CBs. They have to hammer down the POG to hide their printing, but that only makes their real problem worse.
The harder they try, the worse it will get for them.
I love irony.
pods