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Gold, Silver Plunge In Sympathy With Popexit

Tyler Durden's picture




 

The precious metals market appears to have found a size seller this morning. Despite record breaking demand for physical coins from the Mint, gold and silver prices hit an air pocket around 8amET but had been sold all day in Europe. We humbly suggest that his Holiness spread out his retirement selling... of course we saw a similar gap last Tuesday and Thursday as Europe's risk-asset markets continue to slide (and perhaps collateral margin calls come due). Of course, the more important questions remain: which TBTF bank will the pope end up as vice-chairman in, and which ex-Goldman Managing Director/Partner will be the next head of the Vatican bank... and incidentally Catholic Church (it appears a Canadian is front-runner, rather coincidental given Carney's recent appointment).

 

 

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Mon, 02/11/2013 - 09:49 | 3232806 donpaulo
donpaulo's picture

BTFD

Mon, 02/11/2013 - 10:15 | 3232906 MillionDollarBonus_
MillionDollarBonus_'s picture

I just cringe when I see goldbug and silverbug lemmings get destroyed time after time in these markets. Why don't they learn? Leveraged stock investors are sitting on huge gains from last year, when doomer goldbugs were screaming from the rooftops about “the end of the world” and “financial Armageddon”. Gold and silver are obvious bubbles. There is no reason for a shiny piece of metal to product double digit returns when it produces absolutely no income and is abundant in all its industrial utilities.

Mon, 02/11/2013 - 10:18 | 3232919 LawsofPhysics
LawsofPhysics's picture

Isn't funny how an ounce of either gold or silver still purchases the same amount of just about any given commodity (you know those things you need to survive) as they did almost 100 years ago?  Bubble?  I think not.

Mon, 02/11/2013 - 10:20 | 3232924 FEDbuster
FEDbuster's picture

Wonder if China and Russia will cash in their gold to buy some Amazon and Netflixs calls?

Mon, 02/11/2013 - 10:22 | 3232940 LawsofPhysics
LawsofPhysics's picture

"Wonder if China and Russia will cash in their gold to buy Alaska" - FIXED.

Mon, 02/11/2013 - 10:38 | 3233034 redpill
redpill's picture

Damnit Ratzinger, you could have issued the "buy gold" decree before you checked out.

Mon, 02/11/2013 - 10:50 | 3233096 espirit
espirit's picture

7 - 17 - 27 - 37 - 47

Ho-Hum, still rangebound.

Mon, 02/11/2013 - 10:56 | 3233126 EscapeKey
EscapeKey's picture

It's a little known fact that Russia only buys investments that Sarah Palin can see from her house.

Mon, 02/11/2013 - 10:58 | 3233136 GetZeeGold
GetZeeGold's picture

 

 

Dude....that election was over 4 years ago.....let it go.

Mon, 02/11/2013 - 11:07 | 3233180 EscapeKey
EscapeKey's picture

Who said I cared about the election?

Anyway, the internet never forgets.

Mon, 02/11/2013 - 12:16 | 3233526 mick_richfield
mick_richfield's picture

Never forgets what ?

Mon, 02/11/2013 - 10:51 | 3233106 One World Mafia
One World Mafia's picture

The banks the Fed injects $$$ into are buying up the stock market, not including miner stocks, so the bubble is growing in non miner stocks.  It is being done to present the illusion of recovery and to one day short and pop the bubble.

Mon, 02/11/2013 - 11:25 | 3233254 One World Mafia
One World Mafia's picture

Wash, rinse, repeat.  How many times have we been thru this?

Mon, 02/11/2013 - 12:47 | 3233659 espirit
espirit's picture

Comex reduces margin requirements, Pm's have a volume seller and dip, sovereigns rush in, retail gets some...

Wash, rinse, repeat. 

Mon, 02/11/2013 - 12:39 | 3233630 Bansters-in-my-...
Bansters-in-my- feces's picture

Hi MDB..... Eat shit you fuck tard.

Hope you get what ya need,I sure would give it to ya.

I can dream.

Mon, 02/11/2013 - 12:53 | 3233676 Meat Hammer
Meat Hammer's picture

I don't know why you guys feed the troll.  If you don't engage it. it will go away.

Mon, 02/11/2013 - 15:38 | 3234302 Banjo
Banjo's picture

So far my gold has been plunging from about $900 to $1650.

I hope it keeps "plunging" like this.

Mon, 02/11/2013 - 10:58 | 3233125 Mugatu
Mugatu's picture

Please spare us all the BTFD talk.  I own gold but expected prices to drop to $1500 weeks ago.  You don't buy the fucking dip - you really want to buy the fucking bottom (or near it).  A real dip in gold is a drop below $1500.  To protect myself, weeks ago I bought DUST which is a 3x bear gold mining ETF  - and guess what?  For a small investment, I have more than offset my losses in gold.  Its a great way to hedge gold.  Lets face it, as equities rise in their ponzi scheme finish gold will fall.  The IRA masses will sell their gold and gold derivatives because it is not rising like their paper equities.  Come Summer this will all change, but until then gold brethen, you better hedge your ass off.

Mon, 02/11/2013 - 11:02 | 3233163 tango
tango's picture

The clueless (Miillion Dollar Idiot) still looks upon gold as an investment and not a hedge.  I view PM as insurance in case something goes wrong.  And it's hard to beat gold's record of higher returns year after year (making MD's remark about folks taking a bath even more perplexing).  But PM is NOT for growth investment.   If that comes, fine, but the object is a hedge.  Even Cramer says at least 10% of everyone's portfolio should be PM. 

Mon, 02/11/2013 - 11:08 | 3233184 EscapeKey
EscapeKey's picture

Yup. My gold is safely stored away, and won't be accessed unless absolutely necessary.

It's literally a systemic risk hedge.

Mon, 02/11/2013 - 11:14 | 3233209 Whiteshadowmovement
Whiteshadowmovement's picture

"Even Cramer says at least 10% of everyone's portfolio should be PM."

 

wow, and that ladies and gents is all you ever need to know...

Mon, 02/11/2013 - 11:41 | 3233343 RockyRacoon
RockyRacoon's picture

Cramer suggests owning the ETFs.  How is that PMs?

Mon, 02/11/2013 - 12:38 | 3233627 Raymond Reason
Raymond Reason's picture

Who is buying the dip, besides us gold bugs and the BRICS? 

My guess is the dynastic family houses are steadily vacuuming up any gold that they haven't already outright stolen for prices that are a steal.  When the inevitable default happens at the bullion banks, there will be a fiat crash, and a demand for some kind of hard currency, but guess what, the vaults are empty....most likely stolen by secretive vatican bank.  The old families will save the day, and loan gold back to the sovereign (at interest, and many multiples of procured value).  Of course, they will give the sovereign very generous terms, allowing payback of interest and principal in a new partially backed currency managed through a central private clearinghouse, on whose board their agents must sit. 

Our only hope is that Putin poisons them all, and we can all farm for Moscow.  :p

Mon, 02/11/2013 - 12:58 | 3233694 Meat Hammer
Meat Hammer's picture

BTFD simply means, "Hey guys, the dollar doesn't suck as bad as the other fiats today, so go trade a bunch for some gold because in a few days the dollar will suck more but your gold won't"  We're not trying to get rich on PMs; we're trying to use them to not go broke.

Mon, 02/11/2013 - 14:18 | 3233986 Panafrican Funk...
Panafrican Funktron Robot's picture

I would suggest SVXY is probably the better hedge against a gold holding.  Volatility manipulation is how the gravy really gets made in the managed market meltup/gold suppression.   

Mon, 02/11/2013 - 09:54 | 3232807 GetZeeGold
GetZeeGold's picture

 

 

Print money......short PMs......rinse and repeat.

 

Finally some welfare for me.....and China, Russia, Iran, India...you get the picture. Wealth redistribution on steroids.

 

Thanks Ben Shalom!

Mon, 02/11/2013 - 10:38 | 3233035 a growing concern
a growing concern's picture

I hear Geithner has some newfound time on his hands, and I have no doubt he could get down with the pedophilia aspect. I'd say he's a lock for pope... Pope Weasel I.

Mon, 02/11/2013 - 11:27 | 3233262 DeadFred
DeadFred's picture

Angelo Scola at 8:1 is my pick. A rising star with a track record of edging out favorites for new appointments, seen by some as the only man who can turn the tide on the destruction of European culture and last but not least a member of the Congregation for the Doctrine of the Faith (formerly known as The Inquistion). Wikipedia already has him updated as a contender for pope while the others I looked at are laggards in that respect. Downside is I see no Goldman ties, but how many would advertise connections to the darkside.

Mon, 02/11/2013 - 13:38 | 3233816 FEDbuster
FEDbuster's picture

or maybe Angelo Mozilo?  He is not doing anything, they never threw him in jail and he has lots of "friends" in high places.  Maybe WB7 can give us a preview of what this might look like?

Mon, 02/11/2013 - 09:52 | 3232813 new game
new game's picture

JMFO - too many bulls in the closet...

sentiment = sell

only to buy at ult manipulated

JMFO

still fighting the fed?

Mon, 02/11/2013 - 10:04 | 3232861 EscapeKey
EscapeKey's picture

huh? open interest is nowhere near its peak.

all the focus is on an ever-pumped equities market, with such "bargains" as 1,000+ P/E ratio companies such as Facebook and LinkedIn. Oh, and Amazon who HAD a P/E ratio of 3,400 before they went negative.

but obviously, that's not a bubble. it's only a bubble when precious metals rise.

Mon, 02/11/2013 - 10:07 | 3232862 LongSoupLine
LongSoupLine's picture

too many bulls?  fucking stupid.

 

This is a fucking paper game by the big dick eating players...nothing more.

 

Fuck yes I'm still fighting the fucking Fed asshole...every fucking time I buy physical on these fucking crooked paper bid stuffs in the shit eating premarket.

 

Fuck you Bernannke, Gensler, Blythe and all you other metals manipulating fuckers.  fucking die pricks.

 

 

Mon, 02/11/2013 - 10:22 | 3232937 Kaiser Sousa
Kaiser Sousa's picture

and a good fucking morning to you too soup...

just keep stacking homeboy...i hope this latest bullshit paper price slam continues until my dealer opens this morning....we r winning player...just hold on..........

Mon, 02/11/2013 - 13:36 | 3233830 FEDbuster
FEDbuster's picture

I wish there was a paper ammunition market that they could push the price down and supply up.

Mon, 02/11/2013 - 10:40 | 3233042 Hippocratic Oaf
Hippocratic Oaf's picture

You forgot a fuck you to Jamie 'squid' Dimon

Mon, 02/11/2013 - 10:50 | 3233097 GetZeeGold
GetZeeGold's picture

 

 

So noted in the record.

Mon, 02/11/2013 - 12:20 | 3233551 mick_richfield
mick_richfield's picture

I agree, and it's hard to see an argument against this.

In a world where all markets are controlled by the Powers, the *only* risk is systemic risk, so the only meaningful hedge is a hedge against systemic risk.

Fighting the Fed is the only way to hedge.

 

Mon, 02/11/2013 - 14:43 | 3234074 Panafrican Funk...
Panafrican Funktron Robot's picture

A correct and not easily discerned truth.  I play both sides of this, but I'm at 50% money (gold), 50% fiat gambling.  And I in no way consider myself a "goldbug".  I'm just not a fucking idiot, which the obfuscation has made most of us.  

Mon, 02/11/2013 - 09:53 | 3232817 Lost Wages
Lost Wages's picture

It's options expiration week.

Looking forward to meeting Pope Pedophile the Third. (Pretty sure that is the next guy's name.)

Mon, 02/11/2013 - 09:57 | 3232835 reload
reload's picture

oil sold off hard also....

Mon, 02/11/2013 - 10:52 | 3233111 espirit
espirit's picture

...and cattle?  Er, ass?

Mon, 02/11/2013 - 10:13 | 3232899 I am more equal...
I am more equal than others's picture

Excuse me, that is Pope Bendadick Pedophilic the Turd Tamper

Mon, 02/11/2013 - 10:13 | 3232819 LawsofPhysics
LawsofPhysics's picture

Vatican selling it's PMs.  They have considerable holdings.  The real reason the Pope is stepping down.  End game getting nearer, everything being done to save the fiat (debt) is money regime.  Now more than ever, everyone needs to take delivery.   Germany selling PMs as well, cover by many already.  Must...  defend... fiat...

Mon, 02/11/2013 - 10:37 | 3233020 Non Passaran
Non Passaran's picture

So what if the Pope is stepping down? One steps down, ten are willing to take his place!

Mon, 02/11/2013 - 10:41 | 3233053 Ghordius
Ghordius's picture

its a PopExit, you see? some are still waiting for other exits

Mon, 02/11/2013 - 10:05 | 3232820 krispkritter
krispkritter's picture

OT: Don't Shoot! I'm not Dorner! bumper stickers: 

http://www.ebay.com/itm/271153866863?ssPageName=STRK:MESELX:IT&_trksid=p...

Next we'll need a rooftop sign that says "Don’t DRONE me I’m NOT DORNER!!"

This country is getting downright scary...but if silver goes back under $30 I'm buying another 'boat load'...

Mon, 02/11/2013 - 10:14 | 3232901 EscapeKey
EscapeKey's picture

Anyone caught with that is bound to get 5 years of job security through Corrections Corp of America.

Mon, 02/11/2013 - 09:54 | 3232821 Wile-E-Coyote
Wile-E-Coyote's picture

I'm off to buy more physical Silver.

F*** Y** Blythe.

Mon, 02/11/2013 - 10:16 | 3232909 eclectic syncretist
eclectic syncretist's picture

I haven't bought physical since silver was $25-26 per ounce, but this is looking like another good possibility here.  The 5-year chart is a technicians dream and strongly suggests it will be zooming north of 75 by 2014. 

Mon, 02/11/2013 - 10:27 | 3232971 Orly
Orly's picture

No it doesn't.

The chart shows a wedge pattern with a supportive base at $27.61.  A break below that level leaves an immediate downside target of ~$23.15, then $14.75.

Upside potential is capped at ~ $36.30, though $41.40 is an outside possiblity.

Signed,

Technician

Mon, 02/11/2013 - 10:32 | 3233000 toothpicker
toothpicker's picture

You, I love

/Algo

Mon, 02/11/2013 - 10:33 | 3233003 new game
new game's picture

s.t. - i don't want a wedgee

l.t - wedgees are fun games for the child in me...

lighten the f up, laugh it off, u have no control - tptb will decide the price, for now...

Mon, 02/11/2013 - 10:34 | 3233007 new game
new game's picture

s.t. - i don't want a wedgee

l.t - wedgees are fun games for the child in me...

lighten the f up, laugh it off, u have no control - tptb will decide the price, for now...

Mon, 02/11/2013 - 11:48 | 3233378 RockyRacoon
RockyRacoon's picture

Orly, you must have missed this one:

http://www.zerohedge.com/news/2013-02-10/impossibility-economic-calculat...

The Impossibility Of Economic Calculation In A Fiat World

Mon, 02/11/2013 - 12:44 | 3233651 Bansters-in-my-...
Bansters-in-my- feces's picture

Wedge...gees...all round Orly

Mon, 02/11/2013 - 12:56 | 3233666 Orly
Orly's picture

Haven't you boys embarrassed yourselves enough already?

Okay, someone says, "...a technicians dream...to $75..."

And when Technical Analysis clearly refutes that bogus claim, somehow I have a problem?

Wow.  Okay, man.  The hypocrisy knows no bounds around here, does it?

I guess it's okay when the "analysis" (with no presentation of fact, by the way.  What I said is clearly visible on a Weekly chart...) ...when the anaylsis conforms to your upside bias then it must be right on the money?

Jokers.

:/

Mon, 02/11/2013 - 13:24 | 3233780 JonNadler
JonNadler's picture

ORLY, why don't you take a cue from the Pope and get the heck out?

 

Thanks, Jon

Ex-Kitco kool aid dispenser

Mon, 02/11/2013 - 15:36 | 3234291 Orly
Orly's picture

Yeah, coming from a low-life avatar thief, that might be good advice.

Loser.

Mon, 02/11/2013 - 18:18 | 3234884 JonNadler
JonNadler's picture

low life? Of course I am a low life, just look at my name!

Tue, 02/12/2013 - 01:47 | 3235909 RockyRacoon
RockyRacoon's picture

Your only tool is a hammer, Orly.  Try acquiring some more tools.  I'm not saying that you're not a competent analyst, just that every problem is not a nail. 

Mon, 02/11/2013 - 09:54 | 3232823 new game
new game's picture

i don't talk politics and religion-no comment...

Mon, 02/11/2013 - 09:58 | 3232836 GetZeeGold
GetZeeGold's picture

 

 

...and yet you did.

Mon, 02/11/2013 - 10:23 | 3232951 new game
new game's picture

What isn't political?

u win

tenis anyone?

next set...

 

Mon, 02/11/2013 - 10:08 | 3232874 earleflorida
earleflorida's picture

what's LOVEof moan`e got to do with it??? 

Mon, 02/11/2013 - 19:41 | 3235070 smiler03
smiler03's picture

Whatever happened to Slewie the piRat?? (something like that)

Mon, 02/11/2013 - 09:55 | 3232826 Water Is Wet
Water Is Wet's picture

Totally organic selling.  Everyone always wants to dump their gold on a Monday morning when nothing is happening.

Mon, 02/11/2013 - 10:04 | 3232859 Al Huxley
Al Huxley's picture

Absolutely.  I know whenever I want to sell gold, I always try to do it at around  8:00am - 8:30am EST, before the NY markets open.  I feel that those pre-market hours are generally when you get the verry best price.

Mon, 02/11/2013 - 10:20 | 3232923 Water Is Wet
Water Is Wet's picture

Great minds think alike.

Mon, 02/11/2013 - 10:24 | 3232955 fonzannoon
fonzannoon's picture

When I sell I usually put in an order 100 to 200x greater than my position. Nobody seems to complain.

Mon, 02/11/2013 - 10:05 | 3232866 youngman
youngman's picture

Yes...sell today because most of Asia is on Holiday...yeah that is smart...get the worst price possible.....OR.....maybe we can manipulate the markets easier when most of the players are on vacation....so tank it we do and buy up all the scrap...just computers playing...and cheating...

Mon, 02/11/2013 - 10:32 | 3232996 Non Passaran
Non Passaran's picture

And Asian proxy buyers in London aren't as busy either.
Yesterday I was thinking this may be a good week to buy some gold cheaply and it's looking good.

Mon, 02/11/2013 - 09:57 | 3232832 Racer
Racer's picture

Thank you banksters, another nice dip in the price of gold...

I knew you just had to keep manipulating it

:)))))))))))))))))

Mon, 02/11/2013 - 10:10 | 3232885 earleflorida
earleflorida's picture

BTFD!

Mon, 02/11/2013 - 10:01 | 3232843 Sudden Debt
Sudden Debt's picture

OMG!!!!!

THE VATICAN IS SELLING ALL THEIR GOLD TO HELP THE POOR AND SICK!!!!

 

Mon, 02/11/2013 - 10:49 | 3233088 Wile-E-Coyote
Wile-E-Coyote's picture

No, no its to pay off all the molested children who have come back to haunt them.

The Catholic church was in bed with Hitler during WWII, possibly literally the dirty beasts. So maybe that's where the Nazi Gold disappeared to, smelters will know if they are given bags of dental crowns.

Mon, 02/11/2013 - 11:06 | 3233175 Sudden Debt
Sudden Debt's picture

its to pay off all the molested children

I don't think they have that much gold... unless they only give 5$ per child...

Mon, 02/11/2013 - 19:44 | 3235074 smiler03
smiler03's picture

Italics dammit +1

Mon, 02/11/2013 - 10:02 | 3232847 Who is John Galt
Who is John Galt's picture

Pope sucked a little boys cock! OMG Sell Gold!

Mon, 02/11/2013 - 19:46 | 3235080 smiler03
smiler03's picture

Dammit again! I knew I should have worn an adult diaper today..

Mon, 02/11/2013 - 10:02 | 3232849 dick cheneys ghost
dick cheneys ghost's picture

Traded in some FRN's (Federal Rothschilds Notes) for some 90% junk Silver coins this weekend......Greatest feeling in the world in trading fake money, for SILVER

Mon, 02/11/2013 - 10:03 | 3232850 digalert
digalert's picture

ZH calls it...again,

We're gonna get a Technocrat Pope!

Mon, 02/11/2013 - 10:06 | 3232870 youngman
youngman's picture

I wonder what color smoke that is??????

Mon, 02/11/2013 - 10:08 | 3232876 Sudden Debt
Sudden Debt's picture

Chemtrail white of course!

Mon, 02/11/2013 - 10:18 | 3232913 GetZeeGold
GetZeeGold's picture

 

 

Some punk from the UN is gonna show up pour water on that fire.

 

Tradition has officially become outlawed.....cause Zimbabwe says so.

Mon, 02/11/2013 - 10:51 | 3233101 Wile-E-Coyote
Wile-E-Coyote's picture

I heard the Pope is flying out to Denver airport.

Mon, 02/11/2013 - 10:04 | 3232860 Jason T
Jason T's picture

Armstrong bitches.. I sold in January looking for drop this year.. but will buy back for sure.

Mon, 02/11/2013 - 10:05 | 3232867 Al Huxley
Al Huxley's picture

I knew it, I knew Pope Benedict was the driving force behind this bull market!  Without his steady hand continually propping it up, looks like the game's over now - ha ha, suck it China, look what all your gold's gonna be worth now!

Mon, 02/11/2013 - 10:06 | 3232871 Frank N. Beans
Frank N. Beans's picture

the pope pooped and gold droops

 

Mon, 02/11/2013 - 10:10 | 3232883 francis_sawyer
francis_sawyer's picture

does the pope shit in the woods?

Mon, 02/11/2013 - 10:28 | 3232974 Water Is Wet
Water Is Wet's picture

No, he shits in his diaper.

Mon, 02/11/2013 - 10:28 | 3232980 oddjob
oddjob's picture

does the pope pack shit in the woods?

Mon, 02/11/2013 - 10:37 | 3233029 JOYFUL
JOYFUL's picture

only in a bear market.

is the Pope Catholic?

only when a crypto-jew is not available to assume the position.

Mon, 02/11/2013 - 12:54 | 3233683 Bansters-in-my-...
Bansters-in-my- feces's picture

No..No...there is a new phrase in town,and it is... "Does a little boys cock fit in the popes mouth"...?

Mon, 02/11/2013 - 20:21 | 3235153 silverserfer
silverserfer's picture

10-1 Lenny Brownfinger is new Pope.

Mon, 02/11/2013 - 10:09 | 3232879 orangegeek
orangegeek's picture

Not mentioned - the US Dollar is climbing.  The Euro is climbing too, but has turned back.

 

http://bullandbearmash.com/chart/dollar-daily-marginally-2/

 

The US Dollar is negatively biased against four currencies - and those four are tanking.  A rising USD will send markets and commodities to the downside.

Mon, 02/11/2013 - 10:12 | 3232896 LawsofPhysics
LawsofPhysics's picture

and the bernanke and krugman will have a seizure.  One can hope anyway.

Mon, 02/11/2013 - 11:52 | 3233404 RockyRacoon
RockyRacoon's picture

If it gets really bad they'll just rejigger the "basket" of currencies the dollar is weighted against.   The proles will never notice, Santelli will rant for a couple of days, and the 1% will profit.  Just another day in the markets.

Mon, 02/11/2013 - 10:09 | 3232880 Michelle
Michelle's picture

Totally expected when the margin requirements were lowered recently.

Mon, 02/11/2013 - 10:12 | 3232895 earleflorida
earleflorida's picture

well, aren't you the special one,...

Mon, 02/11/2013 - 10:23 | 3232908 LawsofPhysics
LawsofPhysics's picture

yes, meaning there is even less physical behind that paper.

Mon, 02/11/2013 - 10:11 | 3232890 whopper
whopper's picture

At exactly 8:20 am when the NY markets open....It looked like around 8k contracts dumped at once. Funny how silver dives at the same time. What a sham these markets are. I can't wait for the whole system to fail . What a joke.

Mon, 02/11/2013 - 10:11 | 3232891 whopper
whopper's picture

At exactly 8:20 am when the NY markets open....It looked like around 8k contracts dumped at once. Funny how silver dives at the same time. What a sham these markets are. I can't wait for the whole system to fail . What a joke.

Mon, 02/11/2013 - 10:14 | 3232902 Platinum_Investor
Platinum_Investor's picture

They can manipulate Gold and Silver for many more years.  Give up already!  The governments OWN YOU!

Mon, 02/11/2013 - 10:28 | 3232978 Non Passaran
Non Passaran's picture

Among all things they can manipulate and I can own, PMs remain a very decent option!

Mon, 02/11/2013 - 10:40 | 3232999 Whiteshadowmovement
Whiteshadowmovement's picture

+1

Totally amazing that so many of you are still trying to outsmart Bernanke rather than trying to think like him...

But I guess thats why central planning works so well, at the end of the day, people are so predictable.

Mon, 02/11/2013 - 14:02 | 3233924 toothpicker
toothpicker's picture

I knew you were going to say that!

Mon, 02/11/2013 - 11:12 | 3233171 Anasteus
Anasteus's picture

Right, like the old saying...

"Never fuck the Fed! Wait until it fucks itself up."

Mon, 02/11/2013 - 10:17 | 3232917 Platinum_Investor
Platinum_Investor's picture

I bet when whoever decided to dump 8000 contracts (Billions of Gold) in seconds they laughed and said, HAHAHA lets do it on the pope announcement.  "What does pope have to do with Gold"  Who

cares it will be funny all the headlines, lets do it cause we can."  DONE!   To Easy!   Rince and Repeat!   Thieves everywhre!

Mon, 02/11/2013 - 10:19 | 3232921 Antifederalist
Antifederalist's picture

Hey cartel, is that all you got?

I am still here.

Mon, 02/11/2013 - 10:20 | 3232926 William.M.Tweed
William.M.Tweed's picture

Makes me think of that scene in Robin Hood Prince of Thieves where Friar Tuck pushes Bishop of Hereford out the window with bags of gold and silver

 

The appearance of the law must be upheld, Especially when it's being broken

Mon, 02/11/2013 - 17:18 | 3234706 IrritableBowels
IrritableBowels's picture

...and here's thirty pieces of silver to pay the devil, ON YOUR WAY TO HELL!

And my favorite: The painted man...HE HAUNTS MY DREAMS!

Mon, 02/11/2013 - 10:23 | 3232944 MFLTucson
MFLTucson's picture

This is a fucking disgrace, there is no other way to charecterise this courrpt finacial charade!

Mon, 02/11/2013 - 10:23 | 3232945 lynnybee
lynnybee's picture

of course silver is plunging !  i bought some last week, story of my life.   did i tell you about my NASDAQ & housing bubble experience yet ?

Mon, 02/11/2013 - 11:56 | 3233424 RockyRacoon
RockyRacoon's picture

Just hang in there!  The real story here was presented parenthetically:

"...a similar gap last Tuesday and Thursday as Europe's risk-asset markets continue to slide (and perhaps collateral margin calls come due)."

Mon, 02/11/2013 - 13:00 | 3233705 Orly
Orly's picture

Nice to see you again, lynnybee.

No, don't "hang in there."  Gold and silver are going nowhere fast.

See the techniccal analysis portion of the thread above.  :D

Silver is going to stay in this wedge for at least another nine months.  Don't hold your breath waiting for something to happen.

Just my two cents to at least add ballast to the other comments here.

:D

Mon, 02/11/2013 - 13:28 | 3233797 JonNadler
JonNadler's picture

pay close attention to Orly, "her" mastery of the gold market intricacies is almost as good as mine

Mon, 02/11/2013 - 13:50 | 3233869 ManOfBliss
ManOfBliss's picture

Yes, listen to Orly, because technical analysis is never wrong - especially in highly manipulated markets like precious metals.

Do NOT continue to accumulate gold and silver to protect yourself during the coming financial collapse.

And whatever you do - do NOT buy the dips!

Tue, 02/12/2013 - 01:52 | 3235916 RockyRacoon
RockyRacoon's picture

Orly, you must have missed this one:

http://www.zerohedge.com/news/2013-02-10/impossibility-economic-calculat...

The Impossibility Of Economic Calculation In A Fiat World

Mon, 02/11/2013 - 10:23 | 3232953 The Gooch
The Gooch's picture

Ahhhh yes. Coin shop for lunch.

Mon, 02/11/2013 - 10:26 | 3232959 Charles Nelson ...
Charles Nelson Reilly's picture

ehhhh fuck it dude, let's go bowling.

Mon, 02/11/2013 - 10:26 | 3232960 Frastric
Frastric's picture

This plunge revealeth his holinesses sinful desire for worldly possessions and the coveting of gold...

Whatever you can say of the Pope, at least he knows what sound money is.

Mon, 02/11/2013 - 10:33 | 3233002 El Hosel
El Hosel's picture

Its the new normal, wake up, look at futures to see if the flying pig is still green. Stocks up / gold down says "the recoverey" is holding nicely... relax,roll over, and stroke that kitty at a moderate pace.

Mon, 02/11/2013 - 10:50 | 3233102 El Hosel
El Hosel's picture

Corn, Wheat, and Beans have same chart pattern as Gold and Silver.... The look Ma "Low Inflation" algos working like a charmed snake.

Mon, 02/11/2013 - 10:38 | 3233038 Platinum_Investor
Platinum_Investor's picture

If shit ever really hit the Fan, the US government has a concentration camp or jail cell for everyone of you who speak out.   This is NAZI REIGN all over again with a pat and a hand shake and a smile of course.  

Mon, 02/11/2013 - 10:40 | 3233045 eddiebe
eddiebe's picture

I seriously doubt that this take-down has anything to do with the pope.

This is how I see it: Gold and Silver are the mortal enemy of the banksters everywhere.

Banksters want the power to print to get more of everything, especially power, but including the PM's.

Since they have unlimited amounts of Fiat, they can short the PMs to however much of a degree that they can keep confidence in Fiat going.

This could go on for a long time, especially if they can constrict the money supply by keeping wages suppressed and therefore keeping people grubbing for every penny to make ends meet.

It is my opinion they will ultimately fail in this.

When that failure becomes evident, they will re-instate a link to PM's (temporarily) in order to re-establish confidence in their fiat.

Rinse and repeat.

Mon, 02/11/2013 - 10:48 | 3233086 Quinvarius
Quinvarius's picture

And you are crazy if you are not buying here.

http://research.stlouisfed.org/fred2/series/BASE

The party just started up again.

Mon, 02/11/2013 - 11:48 | 3233374 Bam_Man
Bam_Man's picture

Mama mia, that is a lot of base money!

Mon, 02/11/2013 - 10:56 | 3233129 Confundido
Confundido's picture

In a previous comment, I had warned that gold was going to dip, when someone put a big short at $1,680-$1,685/oz last week.

Question: Who do you think were PMs margins lowered for last week? Longs or shorts?

Mon, 02/11/2013 - 10:59 | 3233143 rlouis
rlouis's picture

 

One item: Comex delivery requests for 43 tons

 

http://lewrockwell.com/rep4/bankrun-on-gold.html

Mon, 02/11/2013 - 13:29 | 3233802 No Euros please...
No Euros please we're British's picture

Hey, sorry, I guess your request got lost in the post.

Mon, 02/11/2013 - 11:00 | 3233149 Caracalla
Caracalla's picture

I give up...PMs are crap.  I put 50% of my portfolio in gold, silver and platinum and barely broke even (made a little $$$ in platinum).  I'm selling my holdings and buying Facebook, Linked-in, Netflix, Apple and Google.  No way you can fight the govenrment....if they want it to go up, it's going up.

Mon, 02/11/2013 - 11:07 | 3233178 Whiteshadowmovement
Whiteshadowmovement's picture

its good to see a few people are starting to get it, i hope you are being serious btw, aapl is still "cheap" and you have just a little time to make it to the party before retail...

Mon, 02/11/2013 - 11:43 | 3233355 ZeroAvatar
ZeroAvatar's picture

"....a few people are starting to get it" =  "capitulation" =  DING DING DING DING!  Top is IN!

Mon, 02/11/2013 - 11:53 | 3233403 Whiteshadowmovement
Whiteshadowmovement's picture

haha, boy if I had a nickel for everytime Ive seen this comment on ZH in one form or another, Id throw the rest of my money away...

Mon, 02/11/2013 - 11:08 | 3233183 Kaiser Sousa
Kaiser Sousa's picture

that was funny....

oh, and you forgot the "sarc" thingy...

you were being funny right???????

Mon, 02/11/2013 - 11:12 | 3233199 Whiteshadowmovement
Whiteshadowmovement's picture

AAPL is going to get ramped back to $600 so sure as the sun will rise tomorrow. Its an easy 25% for anyone who wants it

Mon, 02/11/2013 - 11:14 | 3233211 jimmyjames
jimmyjames's picture

I give up...PMs are crap.  I put 50% of my portfolio in gold, silver and platinum and barely broke even (made a little $$$ in platinum).  I'm selling my holdings

**************

Selling into the last shakeout that inevatably must happen in order for a bull market to resume?

Its been that way for years-

Mon, 02/11/2013 - 11:24 | 3233251 balz
balz's picture

Popexit?

PM takedown!

 

Ben Laden dead?

PM takedown!

 

It rains?

PM takedown!

 

The sun is shining?

PM takedown!

Mon, 02/11/2013 - 11:47 | 3233351 rehypothecator
rehypothecator's picture

PM takedown?  

PM takedown! 

Mon, 02/11/2013 - 11:34 | 3233301 Pseudo Anonym
Pseudo Anonym's picture

i'll bite

and which ex-Goldman Managing Director/Partner will be the next head of the Vatican bank...?

the one that was educated by jesuits

Mon, 02/11/2013 - 11:45 | 3233366 ZeroAvatar
ZeroAvatar's picture

Does it rhyme with 'juice'?

Mon, 02/11/2013 - 11:50 | 3233384 valkir
valkir's picture

I am ready to give up too.I am ready to max all cc,sell kitchen sink,and buy my last load of PM.

Mon, 02/11/2013 - 12:08 | 3233487 One World Mafia
One World Mafia's picture

The Obama White House wants to keep the illusion of recovery going until they get high powered weapons away from Americans and while the fascist NDAA works its way thru the courts.

Mon, 02/11/2013 - 14:54 | 3233510 Bansters-in-my-...
Bansters-in-my- feces's picture

Who ever wrote this article ,knows shit about the gold and silver market.

If they did they would know this large seller was prompted to sell because of the price they got to  this said gold and silver for,or should I say what they got PAID to lease this gold and silver for and then DUMP it on the market.

THAT is what drove the price of the said metals down today.

Look and see kitcos gold lease  rate data and charts.

The charts don't match the data half the time cause of deciet but if you watch close you can catcth this and see what really happened.

 

The silver and lease rates went down to NEGATIVE -0.450% OR MORE AND SO DID THE GOLD LEASE RATE.

Now they are back up,and they price of gold and silver got wacked.

Easy to see it played out.

You could make money off the scam every time if you catch it .

Just buy the morning after the

lease rates have gone back up,cause the precious gets slammed always,always ,always after the lease rates have come back up from the NEGATIVE -0.455 % OR MORE.

Check out the crime scene charts at kitco and learn.

 

Mon, 02/11/2013 - 12:28 | 3233594 Bansters-in-my-...
Bansters-in-my- feces's picture

Gold and Silver got hammered because the Gold and Silver lease rates went negative for all month leases in both metals, starting  from friday until monday morning bullion banks got paid to lease gold ond silver and sell it into the market.

This is what just happened.

This happens all the time.

Would you lease gold for -0.540 %  ...?

Thats a NEGATIVE.

Mon, 02/11/2013 - 13:05 | 3233685 mogul rider
mogul rider's picture

Sprott and his minions have been talking their book for 18 months and are getting killed.

All the silver is gone...... blah blah fucking blah

You clowns are stuck in the gold and silver closet and the air is almost gone. Sell and take your losses.

You will see 1200 and 12 before you ever see 2000 asnd 50.

Mon, 02/11/2013 - 14:12 | 3233963 HyperinflatmyNutts
HyperinflatmyNutts's picture

Hate fucking Trolls...........

Mon, 02/11/2013 - 13:24 | 3233784 No Euros please...
No Euros please we're British's picture

Hahaha, those Chineses and Russians are gonna eat shit now!!! The Fed really knew what they were doing to get rid of all that gold....... Oooops I mean, did they? No I'm sure they didn't although we'll thank them for it in the future "if" they did ;-)

 

 

 

 

 

sarc off

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