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Gold, Silver Plunge In Sympathy With Popexit
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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BTFD
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.
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.
Wonder if China and Russia will cash in their gold to buy some Amazon and Netflixs calls?
"Wonder if China and Russia will cash in their gold to buy Alaska" - FIXED.
Damnit Ratzinger, you could have issued the "buy gold" decree before you checked out.
7 - 17 - 27 - 37 - 47
Ho-Hum, still rangebound.
It's a little known fact that Russia only buys investments that Sarah Palin can see from her house.
Dude....that election was over 4 years ago.....let it go.
Who said I cared about the election?
Anyway, the internet never forgets.
Never forgets what ?
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.
Wash, rinse, repeat. How many times have we been thru this?
Comex reduces margin requirements, Pm's have a volume seller and dip, sovereigns rush in, retail gets some...
Wash, rinse, repeat.
Hi MDB..... Eat shit you fuck tard.
Hope you get what ya need,I sure would give it to ya.
I can dream.
I don't know why you guys feed the troll. If you don't engage it. it will go away.
So far my gold has been plunging from about $900 to $1650.
I hope it keeps "plunging" like this.
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.
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.
Yup. My gold is safely stored away, and won't be accessed unless absolutely necessary.
It's literally a systemic risk hedge.
"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...
Cramer suggests owning the ETFs. How is that PMs?
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
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.
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.
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!
Bono is 500-1 to become next pope... [lol]
~~~
http://www.paddypower.com/bet/novelty-betting/current-affairs/pope-betting?ev_oc_grp_ids=1178744&AFF_ID=3409
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.
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.
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?
JMFO - too many bulls in the closet...
sentiment = sell
only to buy at ult manipulated
JMFO
still fighting the fed?
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.
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.
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..........
I wish there was a paper ammunition market that they could push the price down and supply up.
You forgot a fuck you to Jamie 'squid' Dimon
So noted in the record.
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.
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.
It's options expiration week.
Looking forward to meeting Pope Pedophile the Third. (Pretty sure that is the next guy's name.)
oil sold off hard also....
...and cattle? Er, ass?
Excuse me, that is Pope Bendadick Pedophilic the Turd Tamper
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...
So what if the Pope is stepping down? One steps down, ten are willing to take his place!
its a PopExit, you see? some are still waiting for other exits
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'...
Don't drone me, bro!
~~~
http://leaksource.wordpress.com/2013/02/08/dont-drone-me-bro-protesters-disrupt-brennan-cia-chief-approval-hearing/
Anyone caught with that is bound to get 5 years of job security through Corrections Corp of America.
I'm off to buy more physical Silver.
F*** Y** Blythe.
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.
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
You, I love
/Algo
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...
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...
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
Wedge...gees...all round Orly
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.
:/
ORLY, why don't you take a cue from the Pope and get the heck out?
Thanks, Jon
Ex-Kitco kool aid dispenser
Yeah, coming from a low-life avatar thief, that might be good advice.
Loser.
low life? Of course I am a low life, just look at my name!
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.
i don't talk politics and religion-no comment...
...and yet you did.
What isn't political?
u win
tenis anyone?
next set...
what's LOVEof moan`e got to do with it???
Whatever happened to Slewie the piRat?? (something like that)
Totally organic selling. Everyone always wants to dump their gold on a Monday morning when nothing is happening.
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.
Great minds think alike.
When I sell I usually put in an order 100 to 200x greater than my position. Nobody seems to complain.
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...
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.
Thank you banksters, another nice dip in the price of gold...
I knew you just had to keep manipulating it
:)))))))))))))))))
BTFD!
OMG!!!!!
THE VATICAN IS SELLING ALL THEIR GOLD TO HELP THE POOR AND SICK!!!!
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.
I don't think they have that much gold... unless they only give 5$ per child...
Italics dammit +1
Pope sucked a little boys cock! OMG Sell Gold!
Dammit again! I knew I should have worn an adult diaper today..
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
ZH calls it...again,
We're gonna get a Technocrat Pope!
I wonder what color smoke that is??????
Chemtrail white of course!
Some punk from the UN is gonna show up pour water on that fire.
Tradition has officially become outlawed.....cause Zimbabwe says so.
I heard the Pope is flying out to Denver airport.
Armstrong bitches.. I sold in January looking for drop this year.. but will buy back for sure.
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!
the pope pooped and gold droops
does the pope shit in the woods?
No, he shits in his diaper.
does the pope pack shit in the woods?
only in a bear market.
is the Pope Catholic?
only when a crypto-jew is not available to assume the position.
No..No...there is a new phrase in town,and it is... "Does a little boys cock fit in the popes mouth"...?
10-1 Lenny Brownfinger is new Pope.
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.
and the bernanke and krugman will have a seizure. One can hope anyway.
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.
Totally expected when the margin requirements were lowered recently.
well, aren't you the special one,...
yes, meaning there is even less physical behind that paper.
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.
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.
They can manipulate Gold and Silver for many more years. Give up already! The governments OWN YOU!
Among all things they can manipulate and I can own, PMs remain a very decent option!
+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.
I knew you were going to say that!
Right, like the old saying...
"Never fuck the Fed! Wait until it fucks itself up."
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!
Hey cartel, is that all you got?
I am still here.
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
...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!
This is a fucking disgrace, there is no other way to charecterise this courrpt finacial charade!
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 ?
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)."
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
pay close attention to Orly, "her" mastery of the gold market intricacies is almost as good as mine
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!
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
Ahhhh yes. Coin shop for lunch.
ehhhh fuck it dude, let's go bowling.
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.
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.
Corn, Wheat, and Beans have same chart pattern as Gold and Silver.... The look Ma "Low Inflation" algos working like a charmed snake.
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.
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.
And you are crazy if you are not buying here.
http://research.stlouisfed.org/fred2/series/BASE
The party just started up again.
Mama mia, that is a lot of base money!
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?
One item: Comex delivery requests for 43 tons
http://lewrockwell.com/rep4/bankrun-on-gold.html
Hey, sorry, I guess your request got lost in the post.
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.
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...
"....a few people are starting to get it" = "capitulation" = DING DING DING DING! Top is IN!
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...
that was funny....
oh, and you forgot the "sarc" thingy...
you were being funny right???????
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
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-
Popexit?
PM takedown!
Ben Laden dead?
PM takedown!
It rains?
PM takedown!
The sun is shining?
PM takedown!
PM takedown?
PM takedown!
i'll bite
the one that was educated by jesuits
Does it rhyme with 'juice'?
I am ready to give up too.I am ready to max all cc,sell kitchen sink,and buy my last load of PM.
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.
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.
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.
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.
Hate fucking Trolls...........
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