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Another Day, Another 8amET Gold And Silver Slam Down

Tyler Durden's picture





 

As the G-20 continues to craft the most egregiously hypocritical words to describe what is declaring currency war and what is merely commenting on the need for a weaker currency, JPY has plunged back towards the week's lows and Gold and Silver have been slammed lower in another instantaneous 1% gap-down (as we have seen at 8amET every day this week). Silver now below $30 is back near the lows of the year. Treasuries are leaking higher in yield as the precious metals are sold.

 

 

and JPY has had a week at the hands of the 'G's...

 

 


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Fri, 02/15/2013 - 09:49 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

You know you've crossed over into the Twilight Zone when they don't even try to hide it anymore.

Fri, 02/15/2013 - 09:51 | Link to Comment Lost Wages
Lost Wages's picture

I think I saw 72,000 contracts trade in 5 minutes on the NetDania chart.

Fri, 02/15/2013 - 09:53 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Until we have a better plan....we're gonna print money and slam PMs.

Fri, 02/15/2013 - 09:54 | Link to Comment Short Memories
Short Memories's picture

Interesting to see the yen fall exactly along side it

 

Fri, 02/15/2013 - 10:04 | Link to Comment knukles
knukles's picture

We have seen 8 am horseshit just about every day for a year now
Somebody is behaving a bit worried going through a lot of effort to do this
Something getting.soft and ripe behind the scenes?

Fri, 02/15/2013 - 10:15 | Link to Comment Kaiser Sousa
Kaiser Sousa's picture

HEY YA'LL..JUST FORGET ABOUT THAT PHONY PAPER PRICE AND KEEP ADDING TO UR "SILVER SAVINGS PLAN"...

http://www.youtube.com/watch?v=hh-xQbfOoFI

 

im off to the links to get drunk while hittin that little white ball...keep the faith in sound "REAL "money and repeat this all day long....

FUCK YOU BERNANKE YOU BITCH ASS BANKER FUCKING MOTHER FUCKER............

Fri, 02/15/2013 - 10:17 | Link to Comment scatterbrains
scatterbrains's picture

No doubt good advice but I can't help wanting to see 1400ish to double up on my phyzz could happen by the end of Feb too. Maybe we need 80% of the ZH population to hand it over before we can begin the next phase... just saying

http://fiatflaws.blogspot.com/

Fri, 02/15/2013 - 10:28 | Link to Comment Bicycle Repairman
Bicycle Repairman's picture

Why don't you buy some nice platinum instead?

Fri, 02/15/2013 - 11:10 | Link to Comment Mugatu
Mugatu's picture

Get smart.  Weeks ago I bought DUST which is a 3x bear gold miner fund.  Not only is it completely hedging my physical gold position, but it is making me money above my phys gold losses.  The miners are even weaker than spot gold and the 3x leverage gives you an awesome hedge for little investment.  

I will patiently watch this bloodbath until gold bottoms at 1525 or $1400 or $1300, then I will take all my DUST profits and buy even more gold at firesale prices.  Quit fighting TPTB and use their little game to make even more.

Fuck Bernanke, Fuck Washington!

Fri, 02/15/2013 - 11:15 | Link to Comment fuu
fuu's picture

So now we are back to pimping 3x ETFs?

ZH wtf has happened here?

Fri, 02/15/2013 - 11:24 | Link to Comment LawsofPhysics
LawsofPhysics's picture

short term, I thought we were all here to increase our wealth.  Am I wrong?

Fri, 02/15/2013 - 11:35 | Link to Comment fuu
fuu's picture

I thought we were not our khaki's, our furniture, our jobs, our farms, or our stacks.

Maybe I've just overstayed my welcome.

Fri, 02/15/2013 - 11:45 | Link to Comment Mugatu
Mugatu's picture

Here's a hint - when you have something to say, have a point.  It makes it so much more interesting for everyone who is listening!

Steve Martin (Planes, Trains, and Automobiles) 

Fri, 02/15/2013 - 15:09 | Link to Comment Midas
Midas's picture

I even let you pay for the hotel so you wouldn't feel like you were imposing!

--John Candy RIP

Fri, 02/15/2013 - 11:45 | Link to Comment malikai
malikai's picture

Wealth and intelligence.

Anyway, Gold is breaking some levered backs right now. Reminds me of Feb 2011. We all know what happened after that.

http://blog.quantsig.net/2013/02/15/goldsilver-4/

Fri, 02/15/2013 - 11:38 | Link to Comment Al Huxley
Al Huxley's picture

Normally I'm not an advocate of 3x funds, but DUST is an exception.  The concerted effort to destroy the mining industry makes this the only 3x fund that has to be a fucking lock.  Financials are everybody's baby, they can't get fucked over or allowed to be killed long term, but nobody's going to save the miners, so the 3x bear fund in this case seems like the best way to get the supposed leverage the miners provide on gold.

Fri, 02/15/2013 - 11:51 | Link to Comment glenlloyd
glenlloyd's picture

A 3x etf that's an exception? Surely you jest.

Fri, 02/15/2013 - 13:26 | Link to Comment Al Huxley
Al Huxley's picture

I know, they must have made a mistake.  Two devices implemented in the market to remove naive retail investors/speculators of their money, but difficult for both to lose big at the same time - seems like they didn't think it all the way through.  Nevertheless, I think TPTB have more to gain by destroying the mining sector than by sodomizing DUST shareholders.  They'll probably just get rid of DUST.

Fri, 02/15/2013 - 12:09 | Link to Comment Theosebes Goodfellow
Theosebes Goodfellow's picture

They have to keep PMs hammered, knucks. The moment those "get away" from them it's game over. The time to sit up and pay attention is when they don't (but most likely can't), play "Whack-a-Mole" with them. That will mean the shift is on its way. Until then one simply has to view this as another sale on PMs. Buy 'em while their cheap, that's all I can say.

Fri, 02/15/2013 - 10:00 | Link to Comment ITrustMyGut
ITrustMyGut's picture

so true CD... IN YOUR FACE

 

but we're seeing increasing levels of that... Cheney and his "Secret" energy policy groups, 9/11, MF Global... the list of blatant 3rd world corruption and in your face , inelegible potus, you name.. lies lies lies and in your face lies

Fri, 02/15/2013 - 10:28 | Link to Comment gmrpeabody
gmrpeabody's picture

CHENEY....?

Seriously...

Fri, 02/15/2013 - 12:57 | Link to Comment Bananamerican
Bananamerican's picture

serious douche.....

you defending Dick?

Fri, 02/15/2013 - 10:05 | Link to Comment 101 years and c...
101 years and counting's picture

has anyone even bothered to look at a gold chart?  about as ugly as it gets.  its not as if the CB's are going to rig the gold market higher...like they do the worthless paper markets that "create wealth".

Sun, 02/17/2013 - 16:07 | Link to Comment Catflappo
Catflappo's picture

"hide" what?  All looks totally above board to me.   [clutches chest]

Fri, 02/15/2013 - 09:49 | Link to Comment Lost Wages
Lost Wages's picture

The cheapest ounce of gold I see around is the OPM bars at Provident and the cheapest silver I see is the "donkey bars" at SilverTowne.

Fri, 02/15/2013 - 09:50 | Link to Comment earnulf
earnulf's picture

And yet ebay yields on silver are between 35 and 40 dollars, humph, go figure

Fri, 02/15/2013 - 10:07 | Link to Comment LawsofPhysics
LawsofPhysics's picture

Manipulation of PM's while losing control of the treasury market, or the next planned "crisis".  When your political puppets won't get in line, apply preasure via capital costs.  Why do we pay the gov taxes when the consitution says that they can coin all the money they need, oh yeah, we have to keep paying that private bank called the Federal Reserve. Hang in there ZHers!!!

 

Central banks know what is coming, chinese on holiday so they are taking advantage as they need to aquire more PMs on the cheap while their paper is still accepted.

Fri, 02/15/2013 - 10:19 | Link to Comment WhiteNight123129
WhiteNight123129's picture

Law of Physics here is the psychology of the markets.

On one hand there are teh hyperinflationits. They might be right but it would take a cash flow deficit from teh central bank to get there. I.e. interest on assets lower than what the CB has to pay on excess reserves. We migth get there but it will take years.

 

Second, there are the mass which confuse money and credit. You can have a boom on credit which creates a bit of inflation but this self defeating under a fixed money system and follwoed by deflation.

However there is another form of inflation coming from money (Potosi mines, assignats, or expansion of base money).

 

The hyperinflationists are disappointed and the masses think we are back to ~normal~ that is new expansion of credit with benign inflation.

The inflation coming from money is a completely different animal than the one coming from credit. It is not self defeating.

Mark my words, when the inflation starts to creep up above 4% you will see the ~back to normal~ cringe. The Fed will stop printing because in order for inflation expectations not to rise further, but that is it, the genie is out of hte bottle slowly but surely and you have a bear market for treasuries for Years.

When the 10 years cross 5%, the masses wake-up. In between Gold will fall and fall, except if you see a spike on treasuries. Patience and watch inflation go above the the typical infaltion top during expansion of credit driven inflation. Buy more close to that point. Then inflation breaches the inflation tops of the credit cycle expansion and Gold rallies like nuts.

 

Fri, 02/15/2013 - 10:23 | Link to Comment fonzannoon
fonzannoon's picture

whitenight mark my words you will never see 5% on the ten year, maybe ever. You may see 2.5%....3%...3.5%....but that's where it stops.

Ben will freeze the ten year in it's tracks there, should it ever get there. He will buy up every treasury along the way. He will personally deliver shit sandwiches to every buffalo wild wings and tell you it is hamburger, so wash it down with your .000007% makers mark which still costs $14 a glass because there is no inflation.

Fri, 02/15/2013 - 10:35 | Link to Comment WhiteNight123129
WhiteNight123129's picture

CEntral bank manipulation actually always fails in history 1793, 1825, 1839, you name it, plenty of central bank failures in history.

If inflation expectation rise to 3.5% Bernanke announcing more printing will make inflation expectations rise even further.

Keynes is right psychology makes everything look upside-down....

IF YOU DO NOT UNDERSTAND PSYCHOLOGY, DO NOT TRADE.

if inflation rises, through money (not credit), that means your salary rise, (until now we had money units pushed into foreign assets foreign currency, acting as devaluation). If that happens Gov taxes rise.

AGAIN Debt to GDP in Argentina in 2002 161% Today 2012 40%. Beautiful deleveraging. Why would the US not be able to have the good stuff too? Ok, it migth be a mild Argentina. But inflation always work to inflate up tax revenues. (not in real terms just more confettis collected to repay taxes). I mean please all governemnt have used that trick for centuries to inflate away their debt, why do you think America is different?

IF inflation is at 6% long bond at 4.5%, the governement wins.

If inflation comes at 12%, short term interest rates at 8%, the companies with pension liabilities can get rid of their fixed return obligation easily. Look Argentina stock market rallied 750% in pesos.

You put a lot of equities in the portoflio of the companies with pension liabilities, you flood the market with money (not credit) and voila, done. Move on. Problem solved.

PLEASE DO NOT CONFUSE OVER-EXCITEMENT INDUCED INFLATION WITH MONEY INDUCED INFLATION. IF YOU CONFUSE THE TWO YOU CAN NOT CONCEIVE HOW A SHITTY ECONOMY WITH TONS OF DEBT MANAGES TO HAVE INFLATION. OF COURSE THIS INFLATION DOES NOT COME FROM CREDIT.

Fri, 02/15/2013 - 10:38 | Link to Comment LawsofPhysics
LawsofPhysics's picture

If you don't understand how supply chains work, don't trade, and you sure as hell don't know how to truly hedge. In the real world supply chains are all that matters. currency wars> trade wars> real wars>, this is the only thing that 6000+ years of human history/phychology has been consistently clear on.

Fri, 02/15/2013 - 10:40 | Link to Comment fonzannoon
fonzannoon's picture

You will have price inflation continue with no wage inflation. People will get crushed under it one by one.  It will go on for a long long time.

When Lawsofphysics decides he has had enough and actually asks for compensation in something other than dollars, and everyone around him does as well, then things may happen very quickly. Until then please disburse, nothing to see here.

Fri, 02/15/2013 - 10:47 | Link to Comment LawsofPhysics
LawsofPhysics's picture

Correct, already happening.  Give me something fucking real for the fruit of my labor and that of my employees so that we can i) stay in business (buy diesel for the tractors, maintain our seed stocks, maintain the soil, etc. all requires real fucking inputs, never mind actually delivering our produce), ii) afford college for our children, ii) afford to retire.  Our lying eyes can already see that the paper promises are not buying shit.

Fri, 02/15/2013 - 10:54 | Link to Comment WhiteNight123129
WhiteNight123129's picture

Worker productivity is declining. It is good news.

http://www.bloomberg.com/news/2013-02-07/worker-productivity-in-u-s-declines-pushing-up-labor-costs-1-.html

Worker productivity declining is corporate propaganda. A unionist might say ~end of wages repression~ to describe the same phenomenon. One has to think upside down. What it tells is that corporations are forced to pay more. Why? Can get more employed people in unemployment to repress wages. Rise in unemployment is good for repressing wage because supply of labor increase in relation to demand. Next tons of money (not credit) floating around, if the Governement temporarily spends more, they might lit the inflation fire from money (a self-consuming fire as opposed to over-excitement of trade and credit type inflation). Once inflation is kick started they can retrench.

 

http://tv.msnbc.com/2013/02/12/obama-calls-for-9-federal-minimum-wage-pegged-to-cost-of-living/

That is pushing up wages costs further, but they were already starting to go up in nominal terms (not real evidently).


As for Britain, they are tolerating flatflation, no growth just nominal increase in GDP (if debt is fixed it is good too). Even a decrease of 2% in real output with 6% inflation is good because that is nominal GDP increase, and relative to debt that is sweet.


Fri, 02/15/2013 - 11:00 | Link to Comment LawsofPhysics
LawsofPhysics's picture

Wages are not going up, where the fuck are you getting your information? even the Fed's website show a decline in average wages over the last tens years.  Priced in any commodity, the purchasing power of the dollar looks even worse. Clearly another unemployed MBA.

Fri, 02/15/2013 - 11:12 | Link to Comment WhiteNight123129
WhiteNight123129's picture

LawOfPhysics, I do not care if the wages go down in real terms, as long as they go up in nominal terms that is all that matters for analysis purposes.

Ok it sucks, people feel bad and so forth. But if the nominal wages rise 4.3% annualy, that is sweet to repay some mortgage debt and credit card.

Look at Argentina, they had many more pesos in salary yet they are poorer and yet the government has delevered. So I proved my point is correct. I am not saying my point is fair or is what should be done, or is even moral. I am just telling you how it is possible for inflation to actually delever the economy while empoverishing the economy at the same time.

Forget ~real value~ that does not exist in fiat. It is all a play of nominal numbers. Just an abstraction. I am not saying that some day this game will NOT end, but it will require the Fed to have to pay more money on excess reserves than they receive on assets. That would be your final epilogue. Years away.

 

Fri, 02/15/2013 - 11:44 | Link to Comment LawsofPhysics
LawsofPhysics's picture

You are contradicting yourself.  So is Argentina a good or bad place to be rellocating you and your family to right now?  

If you don't think "real value" exists, you don't understand what real "wealth" is either.

"Years away" - Based on what crystal ball? I see an exponential increase in direct monetization and debt since 2001. Go ahead, make that bet, I will not.

Fri, 02/15/2013 - 12:13 | Link to Comment WhiteNight123129
WhiteNight123129's picture

No, I am not contradicting myself. I think it stinks, but yet it works to delever.

Again throw the moral aspect out of the window for second. Argentina flood the market with new currency units.

What happens? People get poorer, but debt levels are undeniably lower. that is all I am saying. I never said that because the delevaring is happening it is good. I am just saying it is the least bad outcome. And I think US might have a mild Argentina outcome. That is all.

Now on real value. Value is a concept which is only dependent on human existence. Gold and hydrocarbons are worthless if located 4 billlion years away from teh earth.

Now if you kill 1/3 of the populatikon with the black plague. Farmland prices plunge. 

So the population element is key. And next there are value items which are independent from pyschology (food, tobacco, things that people can not control or influence only with difficulty through psychology).

And then there is the rest which is 100% collective psychology or herd behavior. Gold has a 6,000 old brand and same with Silver.

Coca-Cola brand in comparison looks like shit. But for some reason people like their fiat delusion until they reject it. The rejection point is not the logical understanding, the rejection point is the realization of the inflationary consequence. It will come but we are not there yet, for now people think we are back to ~normal~...

 

 

 

Fri, 02/15/2013 - 10:38 | Link to Comment agent default
agent default's picture

For one thing, 3.5% is enough to blow the Fed balance sheet and the US out of the water.  Hell, even 2.5 will be enough to start a chain reaction.  As far as freezing the yields, yeah sure.  But then again the dollar will be dumped, foreign bond holders will dump, and the US will become a sort of closed economy with a currency that will buy you nothing abroad.  Either way the end game is on.

Fri, 02/15/2013 - 10:41 | Link to Comment fonzannoon
fonzannoon's picture

I'd agree that 3.5% could be as high as they go. I just think it is easier to throw a few crisis events in here and there along the way to keep the sheep runng back to treasuries on their own.

Fri, 02/15/2013 - 11:13 | Link to Comment WhiteNight123129
WhiteNight123129's picture

US will be double digit rates before the bond bear market ends.

Fri, 02/15/2013 - 11:21 | Link to Comment LawsofPhysics
LawsofPhysics's picture

Interest rates cannot rise.  The U.S. government would shut down as the Fed is directly monetizing all their operations right now. Okay, your ignorance is very clear now.

Fri, 02/15/2013 - 11:40 | Link to Comment WhiteNight123129
WhiteNight123129's picture

The Government shuts down, and so what? Of course they are monetizing, but look at history, monetization always ends with very high inflation, very high rates. I mean please, open history books where did monetization end with low inflation and low interest rates?

I see contradiction here. If you expect low inflation and low interest rates as a result of the Fed program, I think you should sell your Precious metalos immediately, before it gets slammed further.

Fri, 02/15/2013 - 11:44 | Link to Comment LawsofPhysics
LawsofPhysics's picture

If the government shuts down, so does the SNAP program and all the other subsidies to food and fuel.  At that point, interest rates will be the least of your worries.  

Fri, 02/15/2013 - 11:50 | Link to Comment WhiteNight123129
WhiteNight123129's picture

I sense a good person in you LawOfPhysics. THe Fed is powerless, teh power is just in the eye of those who watch the one they believe is powerfull. Look at the Duce Massimo in Italy. One day he is the strong man, hte next the crowd hangs him upside down like a pig. Puff... gone... the power has vanished like a snap of fingers.

Look at French revolution, one day the King has is ~power from God~, the next they chop his head. Same thing, the power does not exist outside of those who look at the other.

Think of humans as highly intelligent chimps. The highly intelligent chimps put a crown on the head of one of them one day and take it offf the other. Same with bull markets, bubbles ,  Fed power, what have you.

 

Fri, 02/15/2013 - 11:55 | Link to Comment LawsofPhysics
LawsofPhysics's picture

A productive agricultural business.  Keep working on that MBA.

Fri, 02/15/2013 - 12:47 | Link to Comment WhiteNight123129
WhiteNight123129's picture

+ 1

LawOfPhysics, you are in teh right business because psychology can not influence food demand, only population size. And let me tell you, I have been in the business of money management for 13 years, No down years. My grand-father was a farmer. He had not much money (but today I think it is the right place and he would make quite a bundle if he was alive). He had a great farm, and I think it is most beautiful activity in the world, and I am not bullshiting, you wake up with the fresh air, no pollution, no sound pollution, ok the tractor stinks sometimes. If you raise pigs no good, but cows shit is not at all smelling bad in my opinion on a farm in my opinion. I actually envy you. If I knew farming I would probably quit why I do which is just fucked up. I have fond memories from being on the farm. And keep working on your farm, while I will keep shuffling money pushing air back and forth. Just because you make money at doing something does not mean you like it.

The only good thing in this business is reading old banking stories, it is like traveling. The rest is shit.

 

 

Fri, 02/15/2013 - 11:35 | Link to Comment WhiteNight123129
WhiteNight123129's picture

So what if the Fed blows up? It would not be the first or hte last time that a central bank blows up.

I mean people do not consider the scenario and say it is impossible just because the Fed would blow up as a result? I am not sure it will lead to blow up, but I thought the people on this crowd were willing to see the FEd blowing up.

I sense some kindness behind all the appereance of brutes and tough guys in this blog. WHich I am not criticizing, I think you guys would want the right thing to be done and avoid a blow up.

But just because an outcome is psychological unpalatable does not mean that it is impossible or even improbable. If you already have died once you can not die twice so you do not care.

What do I mean? I you wanted to be all your childhood say an violionist and you lose your fingers. The result is you are dead inside. The benefit of that is that you do not reject a logical outcome just because it is unpalatable, since the most unpalatable outcome already happened to you.

So instead of having a psychological process like this which is.

The rates rising about 3.5% would blow up the Fed, &&#@$@#$@# psychological block @#(&$%@(#$&(#@& and continue with the FEd will not let that happen.

Restate the logical path in teh following way.

The rates rise. Ok, if the Fed rises above a certain threshold it that sure that it would blow up immediately?

ok look at precedents. UK post world war II, Argentina post 2002 etc... It can happen but it takes time. And so what if that happens. Life is a bitch anyway.

Then continue your thought process.. ok what can the Fed do to prevent interest rates to rise? Print more money while inflation and interst rates rise? What would be the psychological impact of that?Horrendous.

The only thing the Fed can do is actually STOP PRINTING AND INVERT FLATTEN THE YIELD CURVE FROM THE OTHER SIDE A BIT and TRY TO KEEP INFLATION ABOVE LONG BOND RATES, BUT LET LONG BOND RATES RISE AS LONG AS THEY ARE BELOW INFLATION, ALL GOOD.

 

Fri, 02/15/2013 - 11:47 | Link to Comment LawsofPhysics
LawsofPhysics's picture

Yes, now wake us when they "stop printing";

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

LMFAO!!!!

Fri, 02/15/2013 - 11:58 | Link to Comment WhiteNight123129
WhiteNight123129's picture

I will, and remember that something which is not sustainable has to stop. Do you think that printing is sustainable?

If you think it is not sustainable and agree that something that is not sustainable has to stop, why in your opinion printing would go for ever.

That is a contradiction.

I think that when the base money kicks in the circulation (similar to new massive cargo of Gold under Netherlands pure mettalic currency if you will), the price will rise. Not because new credit is created.

Example of transmission. Big Banks gamble with excess reserves (base money) in stock market. Retail investors sells his stock. To me the retail stock holder got a higher balance with his bank but I see only the intervention of base money here. Liesman is denying it because he knows that is exactly what the Fed is looking for. No new credit creation.Yet higher nominal bank balance for the retail shareholder. Cheating is beautiful!!!

Next the retail shareholders buys a book at AMAZON. Where is the intervention of anything outside of base money expansion? Did the bank lever up? No, they sold their Mortgage back securities and treasuries, got some reserves and collateralized other assets to disguise their reserves being used into stock market. But effectively they are using base money to push up stock. Retail shareholder sells and voila. Done. 

 

Fri, 02/15/2013 - 12:01 | Link to Comment LawsofPhysics
LawsofPhysics's picture

You are the one who said they will stop printing, not me.

Fri, 02/15/2013 - 12:18 | Link to Comment WhiteNight123129
WhiteNight123129's picture

I know that. Since I believe that something which is not sustainable has to stop. I think that it will stop. No contradiction.

Fri, 02/15/2013 - 15:27 | Link to Comment cornflakesdisease
cornflakesdisease's picture

I the bond bubble will pop soon.  There is still a little more looting to go on, but soon, the bond supernova will happen.  Then the govg will say, "See, this is why we need more of this, this, and this . . "

Fri, 02/15/2013 - 10:26 | Link to Comment LawsofPhysics
LawsofPhysics's picture

WWIII will happen before your proposed sequence of events comes to pass.  most urban areas on earth are several million strong, in order to keep that many people alive requires real inputs and a supply chain with real inputs that cannot withstand any sort of real inflation in capital or energy costs.  If the world still had truly sovereign states we could afford to have one or two collapses here or there, it is a global collapse this time around, unpresidented in the history of the world  where is anyone going run to?

Good luck.

Fri, 02/15/2013 - 12:00 | Link to Comment Shell Game
Shell Game's picture

"Manipulation of PM's while losing control of the treasury market"

Indeed. The gold:silver ratio liquidity indicator is MACD positive. All may not be aromatic in Denmark.....

Fri, 02/15/2013 - 09:51 | Link to Comment francis_sawyer
francis_sawyer's picture

Looks like it's time for another visit to the coin shop... Shit ~ I wish they'd create a paper market for guns & ammo while they're at it...

Fri, 02/15/2013 - 09:54 | Link to Comment LawsofPhysics
LawsofPhysics's picture

in a round about way several commodity markets already do.  the components of brass, lead, sulfate, etc. all have to be mined...

Fri, 02/15/2013 - 11:38 | Link to Comment WhiteNight123129
WhiteNight123129's picture

A gold price down is only bad is you see yourself as a seller. Actually if you see yourself as a buyer who understand the end resutl, a price slam is good news.

It is only bad news for those willing to sell. Yet many times what prompts people to buy is a higher price. Again psychology at work. Weirdo land of finance and economics....

 

Fri, 02/15/2013 - 11:42 | Link to Comment LawsofPhysics
LawsofPhysics's picture

Funny, my PM's still have the same mass.  PM's are not an investment to me, they are a safe store of value and have been for 6000+ years.

Fri, 02/15/2013 - 12:03 | Link to Comment WhiteNight123129
WhiteNight123129's picture

Absolutely correct, Precious metals are a monetary reference to strengthen credit. Without the reference you have to count on extremely discipline people to make credit and its liability side currency good. If credit side is shitty, currency side is shitty.

THAT BEING SAID. Do not underestimate the ignorance of other people ever.

The sheeple and the mainstream money manager think we are ~back to normal~. You ask them what they mean by that, and they are incappable of defining it. Then you tell them that ~normal~ was expansion of credit faster than income and monetary base and they freak-out. There is no ~back to normal~. Next they can not conceive inflation when there is tons of debt. Yet many examples in history have shown it is possible. The inflation does not come from credit but money.  If you have a pure mettalic currency as circulation medium yet tons of credit (but credit not used as circulation medium, say Netherlands end of XVIII) I can assure you that a massive amount of Gold cargo will create rise in prices, despite the shitty heavy indebted environment.

Same thing today.

 

Fri, 02/15/2013 - 09:59 | Link to Comment GolfHatesMe
GolfHatesMe's picture

Long 3d Printers

Fri, 02/15/2013 - 10:02 | Link to Comment francis_sawyer
francis_sawyer's picture

No shit... I give a lot of grief to the 'bitcoiners'... But the 3-D printing technology has my attention [in a 'hopeful' way]...

Fri, 02/15/2013 - 10:41 | Link to Comment agent default
agent default's picture

Why? Used CNC machines are pretty cheap and you can use them on pretty much any material. I don't see the reason for all this 3d printing hype.

Fri, 02/15/2013 - 10:52 | Link to Comment CunnyFunt
CunnyFunt's picture

Old Bridgeports are even cheaper and simpler to maintain.

Fri, 02/15/2013 - 11:06 | Link to Comment Kilgore Trout
Kilgore Trout's picture

Love my '65 Bridgeport and South Bend 10L.

Fri, 02/15/2013 - 12:16 | Link to Comment Overfed
Overfed's picture

And with a little creativity, they can be made into CNC.

Fri, 02/15/2013 - 10:05 | Link to Comment LawsofPhysics
LawsofPhysics's picture

You go right ahead and arm yourself with those "printed" firearms.  My tribe and I will stick with the forged stuff.

Fri, 02/15/2013 - 10:32 | Link to Comment francis_sawyer
francis_sawyer's picture

I was thinking more along the lines of 'plinking' so as not to waste the good stuff... Practice makes perfect...

Fri, 02/15/2013 - 10:00 | Link to Comment Zero_Sum
Zero_Sum's picture

+1000. I buy with both fists on days like today.

 

Fri, 02/15/2013 - 10:04 | Link to Comment fonzannoon
fonzannoon's picture

I think this could be the slam down to $1,000 or so and $20 silver that a few thought were coming. Sprott bailed and is now pitching Used Honda's and Palladium. Kyle Bass has been quietly tip toeing away from gold. I bet Ben goes to 100 bil/mo as metals continue to fall to make sure every confused soul and weak hand barf's up their PM's and buys some chipotle and priceline and Visa. Because there is nothing more gratifying than booking your vaca on your credit card while eating chipotle.

Fri, 02/15/2013 - 10:09 | Link to Comment LawsofPhysics
LawsofPhysics's picture

That's what I like about you, always the optimist...

Fri, 02/15/2013 - 10:13 | Link to Comment fonzannoon
fonzannoon's picture

LOL Yeah I must admit I am broken. When I smell flowers now I look for a casket.

 

Fri, 02/15/2013 - 10:28 | Link to Comment rqb1
rqb1's picture

Hold on until they can't fund the ESF.

Fri, 02/15/2013 - 10:36 | Link to Comment francis_sawyer
francis_sawyer's picture

It's immaterial whether or not they succeed in taking paper Ag to $20...

~~~

If there's anything I learned over the past 2 years... When it gets to $26, either nobody is willing to part with inventory, or MARGINS adjust accordingly...

It's like stocking up on food... You don't want to wait until the day TSHTF to run to the big box store to stock up on beans & rice...

Fri, 02/15/2013 - 10:19 | Link to Comment edifice
edifice's picture

God, I hope so. Just in time for the tax return to come in. Now, where'd I put the truck keys?

Fri, 02/15/2013 - 10:11 | Link to Comment eclectic syncretist
eclectic syncretist's picture

It looks like a good day to buy some more silver!

Fri, 02/15/2013 - 12:10 | Link to Comment Chump
Chump's picture

I bought yesterday, hence today's dip.  You're welcome.

Fri, 02/15/2013 - 10:04 | Link to Comment edifice
edifice's picture

They could call the ETFs:  GUN and AMO

Fri, 02/15/2013 - 09:52 | Link to Comment PowerzThatB
Fri, 02/15/2013 - 09:52 | Link to Comment Fiat agnostic
Fiat agnostic's picture

They're a bunch of crooks who will get their comeuppance very soon.

Fri, 02/15/2013 - 10:00 | Link to Comment GolfHatesMe
GolfHatesMe's picture

Great word, not used enough

Fri, 02/15/2013 - 13:28 | Link to Comment JonNadler
JonNadler's picture

the crooks will just switch to the long side when the time comes and make a fortune on the way up too.

They ain't getting no comeuppance, they're sociopaths, but not stupid after all

Fri, 02/15/2013 - 09:54 | Link to Comment swissaustrian
swissaustrian's picture

Somebody is taking advantage of the Chinese new year holidays to play paper games.

Any weekly close below 1620 and 30 would mean major technical damage.

Fri, 02/15/2013 - 09:59 | Link to Comment Central Wanker
Central Wanker's picture

The more technical damage, the better. I'm buying. 

Fri, 02/15/2013 - 10:40 | Link to Comment Anasteus
Anasteus's picture

Me too, a real bonanza...

Fri, 02/15/2013 - 10:00 | Link to Comment Orly
Orly's picture

I have it at 1603 but who's counting?

Fri, 02/15/2013 - 10:10 | Link to Comment fonzannoon
fonzannoon's picture

$1,595 by close today would be my guess.

Fri, 02/15/2013 - 13:24 | Link to Comment JonNadler
JonNadler's picture

Orly wasn't counting on the runnup between 689 to 1930 I can tell you that

which runnup is to be repeated soon

Fri, 02/15/2013 - 12:21 | Link to Comment Non Passaran
Non Passaran's picture

Agree.
I bought recently and below 1600 and 30 (hopefully next week) I will step up and buy 3x to 5x as much. Below 26 (Ag) I'll take a loan to buy more: we're having a strong recovery so industrial demand should be growing, no? Haven't heard anyone claiming that silver is overbought or overpriced...

Fri, 02/15/2013 - 09:57 | Link to Comment youngman
youngman's picture

When the Chinese come back next week......more of the western worlds gold will be shipped east....but I think that is the plan...so if I was a Germany or any other country "storing" my gold in New York or London......I think I would bring it on home.....you know..that gold that you THINK you own.....

Fri, 02/15/2013 - 10:02 | Link to Comment aleph0
aleph0's picture

Germany could just buy MORE at this price.

 

After all , with Nationa Debt over 2,000 Billion Euros .... what would 2,000 tons  of Gold cost ? ... "peanuts" as one Deutsche Banker once said.
.... he was fired shortly afterwards ;-)

Fri, 02/15/2013 - 10:52 | Link to Comment NoClueSneaker
NoClueSneaker's picture

Hillmar  ( "Das sind doch die Peanuts " ), Kopper still there, steeling and lying, dumb and arrogant like in his best bootlicking days ....

His last stunt is about two months old - at HSH-Nordbank,"Landesbank" with most of MBS-Crap ( Magnetar, Omega etc ), with some fancy Solyndra stocks.

Hillmar maneged to prevent backpayment of the boni of former managers who utterly screwed Hamburg.

______________________________

Germany can't buy a shit - Jens Weidmann has his "assets " in 800+ Bn. € of PIIGS-Crap. No dime left behind. Some austerity needed to became afloat. :-P

Fortunately, 650 T of german gold will sail back - 'till 2020. Jamie Dimon can play with 1200 T of german vapor-gold even after that.

Blythe, Schatzi - weitermachen, Dr. Strangelove Schäuble hat einen Herzen für dich ....

Fri, 02/15/2013 - 09:55 | Link to Comment rogeliokh
rogeliokh's picture

"Gold prices are still feeling the negative effects of a bearish report from the World Gold Council issued Thursday, which said investment demand for gold declined by 10% in 2012. Overall world demand for gold declined by 0.4% in 2012."

All currencies gets devaluated and yet Gold demand decline??? Central Banks buying like crazy
Germans want their Gold back, which nowhere to be found, and Demand decline???
Another Bullshit.. Lying f*ck!!!

Fri, 02/15/2013 - 10:06 | Link to Comment LawsofPhysics
LawsofPhysics's picture

Correct, the death of paper.  CBs using their connections and power to hedge, so should you.

Fri, 02/15/2013 - 11:32 | Link to Comment TheGardener
TheGardener's picture

In other news, ZH goldbugs expect their holdings to
be even more underwater in spring due to melting
snow and ice.

G20 combined owns how much gold ? They only need to
swap some in between themselves through the paper market
for ANY desired fiat quote. Anyway, the barbaric relict entering center stage in the currency war means we can
lay those conspiracy theories about price manipulation to rest just like those tall claims the Libor rate was "fixed" in an improper way...

Fri, 02/15/2013 - 11:50 | Link to Comment LawsofPhysics
LawsofPhysics's picture

Funny, my physical holdings still have the same mass. It's a safe store of value, not an investment dipshit.  Moreover with a dollar-cost average of $300 per ounce, they have done fine as an investment too.  Just no fixing stupid I guess.

Fri, 02/15/2013 - 13:36 | Link to Comment TheGardener
TheGardener's picture

Forgot the /sarc tag for the imbeciles, my bad.

Fri, 02/15/2013 - 10:31 | Link to Comment chdwlch1
chdwlch1's picture

It is time to "walk in the footsteps of giants."  Load up on as much 'Tradition' as you can at these artificially low prices, just like the Central Banks of the World are doing.  Protect your future by accumulating your ABCDs (Anything Bernanke Can't Destroy). 

Fri, 02/15/2013 - 09:56 | Link to Comment I need more cowbell
I need more cowbell's picture

It is blatant because they want you to see it is blatant; at end game the gloves come off, any semblance of maintaining fair and open "markets" become irrelevant. They want to show you control. Methinks they doth protest too much.

" See how much control we have, peasant, see!!" they shriek. Makes a body go Hmmm

Fri, 02/15/2013 - 10:47 | Link to Comment agent default
agent default's picture

So you mean this is a blatant slap in the face just to show you who is in charge and that there is nothing you can do about it?  And of course imply that if this doesn't work we can do a lot worse?  You certainly have a valid point  there, not necessarily true, but certainly possible.

Fri, 02/15/2013 - 09:56 | Link to Comment BullsNBeers
BullsNBeers's picture

I don't hoard physical but do keep some as a hedge against one of those SHTF situations.

I don't care whether it's denominated in fiat dollars or rubber clown noses.

Fri, 02/15/2013 - 09:55 | Link to Comment CDNX fan
CDNX fan's picture

GOLD crashing! Time to buy NFLX and BB and DUMP your "stacks" in favour of real returns in the U.S. stock markets!

 

Long live Jim Kramer! Hail Dimon! Bravo Blankfein! 

Fri, 02/15/2013 - 10:16 | Link to Comment eclectic syncretist
eclectic syncretist's picture

Next thing you know the Fed will stop printing, the 10 year bond will go to 0.001%, the budget will be balanced, the middle class will grow and prosper, the housing market will explode, politicians will become ethical, ect.

But I think I'll buy just a little silver today, just in case it doesn't happen.

Fri, 02/15/2013 - 09:57 | Link to Comment Michelle
Michelle's picture

Paulson is taking a bath on GLD yet again and isn't selling, yet.

Central banks are the greatest fools, selling at the bottom and buying at the top, who else has unlimited purchasing power for the likes of Soros and Pimco to sell to? lol!

Fri, 02/15/2013 - 10:11 | Link to Comment LawsofPhysics
LawsofPhysics's picture

Central banks that are primary dealers get their paper for FREE!  The "price" of any commodity is fucking irrelevant, how is this being a "fool" again? 

Fri, 02/15/2013 - 10:24 | Link to Comment Michelle
Michelle's picture

First of all, clean out your potty mouth.

Second, we already know the central banks absorb all the "losses" implying that they are bad banks that everyone sells to so they themselves don't have to show a loss. My comment was more of demonstrating the example of the greater fool theory and nothing more. Chill.

Fri, 02/15/2013 - 10:40 | Link to Comment LawsofPhysics
LawsofPhysics's picture

Cursing aside, my points are simple as well, 1) all previous "theories" are null and void as this is the first global meltdown from global banking fraud, and 2) nothing changes until the perpertrators of this fraud are held accountable and executed.  Once it is clear that there will be real consequences for bad behavior, all of this fixes itself, not before.

Fri, 02/15/2013 - 10:40 | Link to Comment kralizec
kralizec's picture

Buy, Buy, Buy!

ETA - Awesome, more physical coming, got it just before it started ticking up.

Now, I am scheduling my boat trip.

Fri, 02/15/2013 - 09:57 | Link to Comment NoWayJose
NoWayJose's picture

Chinese traders going to have a very happy new year when they come back next week. Might see PMs rise this afternoon as some shorts cover.

Fri, 02/15/2013 - 09:57 | Link to Comment pan
pan's picture

Thank you Blythe!

Fri, 02/15/2013 - 09:59 | Link to Comment Glass Seagull
Glass Seagull's picture

China to launch its own gold etf to allow investors to fill China's vaults for them, just as Fed/Treasury allow GLD investors to fill their vaults (via swap outs). Gold efts are an important mechanism for CBs to get the gold back.

Gold war taking an interesting turn.

Fri, 02/15/2013 - 09:59 | Link to Comment Stuck on Zero
Stuck on Zero's picture

China and Russia are so pleased wiith this.  They get much more of the West's gold for the $$.

 

Fri, 02/15/2013 - 10:28 | Link to Comment augustusgloop
augustusgloop's picture

Vlad is riding across the steppe bare chested w/ a cross bow or swimming with narwhals  as the tools high five themselves to a vente starbucks in cubeland for causing major technical damage to Gold and Silver. 

 

 

Fri, 02/15/2013 - 11:55 | Link to Comment TheGardener
TheGardener's picture

China and Russia mildly impressed . The West will proudly
say at G20 meeting : "See what we did to OUR gold price ?"

China and Russia just pleased to be taken seriously.

Fri, 02/15/2013 - 09:59 | Link to Comment LongSoupLine
LongSoupLine's picture

I'm buying more...

 

Fuck you JPM, fuck you Blythe, fuck you Bernanke, fuck you HSBC.  Shove all that fucking paper up your fucking Fed dick hiding asses you fucking worthless pricks

Fri, 02/15/2013 - 09:59 | Link to Comment edifice
edifice's picture

APMEX:

 

$1,642.19 for random mint 1 oz. gold bars (1-9 Qty., no assay card)

$318.80 for random mint 10 oz. silver bars (1-19 Qty.)

Fri, 02/15/2013 - 10:01 | Link to Comment sudzee
sudzee's picture

PMs just being G-20-d. The ponzi has a leak to hard money. Hard money just sits and can't be re-hypothicated to support the ponzi.

I'm about to add a bit to the leak.

Fri, 02/15/2013 - 10:01 | Link to Comment steveo77
steveo77's picture

The odds that last nights Meteor strike and the AD14 Asteroid close fly by are just a coincidence are 5.5 million to 1.    There is significant danger for the next two days.

 Debris field in front of Asteroids
This research from UCLA.    What happened in Russia last night hasn't happened for 100 years on earth.  And we have not noticed a close flyby of a 15 story building by 15 story wide cube (Asteroid 2012 AD14 to put things in perspective), ever before.

So is this a coincidence?  Well the asteroid that hit Russia (now call it a meteorite since it hit) odds are 1 day in 100 years or 36500 to 1, or .0027%. 
They think that big of an  object gets kind of close to earth  every 40 years, but some say every 1120 years, lets use 40.    40*365= 14600

So that is one in 14600 odds, or .0068% chance on any given day.

The odds of both happening on the same day is .0027% * .0068% = .000018%, or about 5.55 million to 1 odds.     Hmmm

 It is obvious, the powers that be will do anything to not scare the sheeple.
There should have been warnings, not "don't worry". 
Stay near home, have your emergency supplies prepared.

More info and pictures here
http://nukeprofessional.blogspot.com/2013/02/debris-field-in-front-of-as...

Fri, 02/15/2013 - 10:04 | Link to Comment jubber
jubber's picture

Gold is a barometer of how shit everything is, they have to keep it dowm so Jo Public doesn't realise how fucked we are.

Fri, 02/15/2013 - 10:09 | Link to Comment RealityCheque
RealityCheque's picture

Just like the 80s, AU is the barometer of reality. Therefore it must be locked down for as long as possible.

Fri, 02/15/2013 - 10:06 | Link to Comment youngman
youngman's picture

Even though the price has dropped all week...the number of contracts has not dropped....I bet the Chinese eat this up next week...the graphs show a cliff and then the "real" market of buyers slowly buy it up....then another cliff slam...whoever is doing it is just shifting the hard metal to othr locations...nothing has changed in the worlds economics...fiat paper is still being printed ...deficits are growing...interest rates are inching up..inflation too...oil is up...this is some game they are playing...is if for the G-20....is is for options expire.....is it for the treasuries sale.....its NOT the value of gold...

Fri, 02/15/2013 - 12:26 | Link to Comment TheGardener
TheGardener's picture

The Chinese are on board I recon with the paper price fixes at increasingly irrelevant bucket shop exchanges.

Chinese buy their 100`s of tons OTC or from miners with forward contracts.

If the manipulation efforts were directed up instead of down, (hold on gold zealots, just a thought experiment)
it would suit China just as well , trying to convert trillions of green paper currency reserves into something more tangible you have to be ready to pull every trick as in getting your accounts receivables into non-bankruptcy territory, yell or cry if need be .

Fri, 02/15/2013 - 10:06 | Link to Comment unrulian
unrulian's picture

sale

Fri, 02/15/2013 - 10:06 | Link to Comment katwoman
katwoman's picture

Just checked Kitco to pick up another Monster Box of silver eagles-price has hardly dropped...

Fri, 02/15/2013 - 10:06 | Link to Comment Madcow
Madcow's picture

Gold Gold Gold ... Ha ! 

There's not going to be "inflation".   Google "sudden stop" sometime to see what's going to happen as the deflationary collapse intensifies.  Gold is useless in a world without grocery stores - 

Fri, 02/15/2013 - 10:33 | Link to Comment augustusgloop
augustusgloop's picture

MC- 

The stackers are on farms and have root cellars full of lead, turnips, potatoes, whatever.

 

It's the ladies and gents in their Ford Foci commuting to work from the exurbs with a Starbucks cup in the cupholder, iPhone in lap (frying their gonads), paying 20 dollars a gallon looking for a food store that has anything on the shelves that are screwed.

Fri, 02/15/2013 - 10:33 | Link to Comment Winston of Oceania
Winston of Oceania's picture

Gold will never be useless because "chicks dig it" and that is why men began to dig it up. That my friend will never ever change, besides if i had extra food i would trade it for gold or silver long before many other things.

Fri, 02/15/2013 - 11:16 | Link to Comment Orly
Orly's picture

Finally, someone besides myself understands the basic attraction to gold.  Gold is about sex.  Sex is power.  Power is money.  Not the other way around.

You boys think you're so cerebral with all your inflation talk and hedging and what-not.

Look the other way.  Look inside and you'll understand your attraction to the shiny rock.  Coming on the blog and stating over and over again how high gold is going to go is akin to standing on the streetcorner in a do-rag, holding your...thing.  It's like checking the safe every fifteen minutes, I suppose: you have to make sure it is still there.

:D

Fri, 02/15/2013 - 16:49 | Link to Comment JonNadler
JonNadler's picture

out of all the stupid theories about gold I ever heard, this must surely be the dumbest

what's next? you can't lay gold?

Fri, 02/15/2013 - 12:40 | Link to Comment TheGardener
TheGardener's picture

"Gold is useless in a world without grocery stores - "

I`m old enough to remember grocery stores though I do not
tend to buy food at all.
Seldom do I travel to town these days but if ,I only drive past super - and hypermarkets. Wouldn`t even feed any of
their offerings to my dogs and livestock and call shitty
industrially processed food "groceries".

Is this what you meant to say about a useless world without gold and grocery stores ?

Fri, 02/15/2013 - 10:06 | Link to Comment Confundido
Confundido's picture

Can anyone tell me how can anyone stop this? Lease rates are negative, which means they are doing this unhedged...who's going to corner them? Who's going to push for the delivery? NOBODY!

Fri, 02/15/2013 - 10:09 | Link to Comment youngman
youngman's picture

"Who's going to push for the delivery? "

 

I bet someday the Chinese do.....

Fri, 02/15/2013 - 10:14 | Link to Comment El Hosel
El Hosel's picture

The jokers in charge have become accustomed to vaporizing TRILLIONs to preserve the illusion... The Gold market is tiny, easy for them to have their way for now.  Once our large trade partners have a  enough gold they can pressure the price the other way, why would they be in a hurry? US, Europe and Japan are "fixed" so they are putting gold and silver on sale for the rest of the world... right.

Fri, 02/15/2013 - 10:37 | Link to Comment chdwlch1
chdwlch1's picture

Only one small problem I see with your logical scenario...the same folks who are the stock holders of the World's Central Banks also own the major mining companies.  Look at Rio Tinto for example...

Fri, 02/15/2013 - 11:16 | Link to Comment KansasCrude
KansasCrude's picture

WTF are you talking about?  They are hitting the CRIMEX hard for deliveries;  38.5 Tons this FEB. and my guess after today that number will go up some more.  Thats over 40% of the exchanges inventory.

From Harvey Organ

 

The CME reported that we had 129 notices filed for 12,900 oz of gold today.   The total number of notices so far this month is thus 11,022 contracts x 100 oz per contract or 1,102,200 oz of gold.  To determine how much will stand for February,  I take the OI standing for February (1464) and subtract out today's notices (129) which leaves me with 1335 notices or 133,500 oz left to be served upon our longs.

Thus the total number of gold ounces standing in this  active month of February is as follows:

1,102,200 oz (served ) + 133,500 oz (to be served upon) = 1,235,700 oz or 38.43  Tonnes.

http://harveyorgan.blogspot.com/

Fri, 02/15/2013 - 10:07 | Link to Comment RealityCheque
RealityCheque's picture

No use complaining, we all know we are playing for keeps in a crooked game. The day to day swings in paper on the comex have to be seen as they are, irrelevant in the longer run. Those paper contracts still have to be backed by the real thing (or a lie about having the real thing, eh bernanke?!) and cartel banks will be running mighty short of the stuff before long. Fortunately my shiny weighs the same today as it did yesterday and the day before. 

The cartel action is so obvious now that it betrays the state of emergency they are in. Chinese indexes are back up and running next week, how nice that the West put AU and AG on sale for them while they were on holiday.

Its a crooked game but we should all know that before we started playing. So no whingeing! Be damned thankful that that you are being given repeated opportunities to buy this stuff at prices that are still affordable.

Fri, 02/15/2013 - 10:09 | Link to Comment My Days Are Get...
My Days Are Getting Fewer's picture

I think JS is correct - do nothing.

Wait until the prices for gold and silver are so low that your nerves as searching for the sell button. That would be the time to add.

Fri, 02/15/2013 - 11:20 | Link to Comment Taffy Lewis
Taffy Lewis's picture

I've got lots of dry powder waiting for $1500. I've changed my strategy from silver to gold because in the near future I'll be moving to SE Asia.

Anybody know any problems of taking some gold coins in carry-on bags on international flights?

Fri, 02/15/2013 - 13:12 | Link to Comment Stuntgirl
Stuntgirl's picture

Depends on how many coins and what denomination.

For international flights, your best bet is coins smaller than 1oz, put them with other regular coins in a wallet purse. They will show on the scanner, but if they're not in the bags but in the wallet you put on the tray, it won't stand out.

Small bars 1 oz, 50 gr, put them mixed with memory cards and batteries in your photo equipment bag, in a pocket. Again, you want the metal sheet to show on the scanner in a place where a metal sheet makes sense.

If you roll or pack them together, they WILL stand out massively.

I have heard of people getting rolls accross and saying they are collectibles, and getting away with it, but it's best to not even be questioned. Also bear in mind that the quantity of valuables to declare will change from country to country, as will the treatment of gold, so don't even get questioned.

Fri, 02/15/2013 - 14:59 | Link to Comment Taffy Lewis
Taffy Lewis's picture

Great advice, Stuntgirl. Thanks a lot!

Fri, 02/15/2013 - 10:10 | Link to Comment orangegeek
orangegeek's picture

Gold monthly shows bigger picture - gold is likely to continue down well below 1600.

 

http://bullandbearmash.com/chart/monthly-gold-shows-bearish-macd-pointing/

Fri, 02/15/2013 - 10:18 | Link to Comment semperfi
semperfi's picture

retest of 1550 - silver retest 26

Fri, 02/15/2013 - 10:10 | Link to Comment monopoly
monopoly's picture

when Gartman shorts gold you know we are close to a turn. Never thought I would see 1,600 again. Looks like it is time for another call to our gold broker.

Fri, 02/15/2013 - 10:21 | Link to Comment Quinvarius
Quinvarius's picture

Is he short now?  Best news ever if you want the price to rise. 

Fri, 02/15/2013 - 11:14 | Link to Comment They Tried to S...
They Tried to Steal My Gold's picture

1588 is your bogey on Gold. Be interesting to see if the Chinese come in on Monday and start buyiing. 

Barrick screwed things up for the miners - when they didn't sell African Barrick to the Chinese. That would have put a bid under the miners. 

If Gold goes down to 1500 - I expect some signs of consolidation in the Miners group. In the interim - continue to buy Silver - cost average throughtout the year -as the metal becomes more and more rare...

 

 

Fri, 02/15/2013 - 11:23 | Link to Comment El Hosel
El Hosel's picture

.... Quinvarius,     Denny would say short of it.    Just like the "Market" and reality / The "Market" is short of reality.

Fri, 02/15/2013 - 11:29 | Link to Comment AlphaHunter001
AlphaHunter001's picture

2 trades - he's long gold in yen terms (which is still at all time highs) and short gold in USD terms (which is obviously breaking down) - so basically he's making money both ways

Fri, 02/15/2013 - 10:14 | Link to Comment Meat Hammer
Meat Hammer's picture

I can practically set my watch by this shit it's becoming so predictable.  The best part is it happens on pay day!  I know where I'm going on my lunch break today.  Mr. Coin Man?

Fri, 02/15/2013 - 10:17 | Link to Comment semperfi
semperfi's picture

And I love it!!!  That means I'll get more OZs when the time comes very soon to trade the paper I've been accumulating for metal.

Fri, 02/15/2013 - 10:18 | Link to Comment katwoman
katwoman's picture

Volatility in Comex gold options is exploding

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