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Another Day, Another 8amET Gold And Silver Slam Down
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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The only "Market" that has corrections... so old fashioned.
Buy it
http://research.stlouisfed.org/fred2/series/BASE
Or buy anything. That is 190 billion in one month. 11 more months of that is coming.
It's fun to put that chart, overlayed with the gold spot price, to anyone that tells me gold is in a bubble. Debt is the real bubble.
Shhhh, you're going to disturb the group think.
Of course, you will get the crowd of people teasing the gold bugs on this. But what is a gold bug really? Simply a person opposed to dishonest people printing extra money to benefit their friends.
Apmex special today on eagles...
Buy the dip and then start a pantry because food prices are heading up FAST. The drought is not helping but the money printing and commodaties trading is behind a good portion of it as well.
http://www.naturalnews.com/036973_food_inflation_groceries_prices.html
The wants of the few outweigh the needs of the many...
CBs promoting PM purchases would only spite themselves, and end this fiat clusterfuck scam very quickly..so, they downplay the only REAL thing to do, buy PMs. When the Assholes That Be, say pull it, they are not the sole owners of a global 5000 yr constant definition of real money.
Silver's going to $13-$18 before the year is out.
Gold Miners have 20% more downside as well.
No idea on gold itself.
that's a 50% sale on silver
Ha. Ha.
15 mins for the final blow....and we go to $1,585...
DAMN! I just bought more silver last week, I wish I knew it was going on sale this week!
Unfortunately or fortunately pm's are the only lei left, they are already saying were in a Recession. At least it is real and tangible for paper is going to burn like the meteor soon.
I understand why people would want stocks, but I don't understand how you buy hand over fist at these prices. Then again, most people are horrible investors. This is a momentum play where big, late-to-the-party money is chasing a train that left the station and it's luring dumb retail in for another face ripping slaughter. Momentum and fantasy of riches could bump them a while longer but I pity the fool buying today.
Personally, I am loving this as I just filed my return last night and wanted to convert the refund into silver.
I'm just wondering if I should buy here or wait for an even better price. PMs have been shaky the past few months so I am thinking there might be more weak hands to clear out.
MANIPULATION IS GOOD
Chinese markets have been closed for the lunar new year so they can howl at the moon through the haze of their toxic smog. The scrotum suckers short huge amounts of naked, unbacked PAPER silver and gold contracts to make it appear as PM's are selling off-bullshit. Wait till Monday, I doubt the Chinese will load their junks with JPM unbacked paper contracts, as they take the small amount of remaining phyzz out of the markets at bargain basement prices...
Monday is a holiday here.....so its buy today...or tuesday..you make the call
Headed to the coin shop tomorrow for a gold eagle and 60 oz. of silver eagles. My favorite part isn't buying the coins, it's going to the bank and withdrawing $3500+ fiat paper and having the bank manager ask me what I'm doing today or what kind of nice gift I'm getting with my wife with the money. One day I'm going to look at him and say, "you know what you cocksucker, I'm going to buy gold and silver with this piece of paper you pricks have helped destroy. You wanna know why, because you and all the whores in the banking business are fucking criminals. Not street trash criminals who snag a pack of cigarettes from a 7-11, no you fuckheads are the worst kind of pussies. Now go fuck yourself and if anyone ever greets me with a good morning sir when I walk thru these doors to take my money out I'm going to grab them by their fucking hair and drag them outside and give them a Philly mouthwash. Now, please put that in an evelope for me"
Haha.
The managers are clueless pawns. Don't take it out on them.
I gotta take it out on someone, that poor prick my just get into my crosshairs.
What the fuck is a Philly mouthwash?
Since you just made me piss myself, I'm gonna have to go and change out of my wet underwear. When I come back, I'm hoping you'll have enriched not only my vocabularly, but my arsenal of means to deal with the criminal motherfuckers in my life.
Oh, and by the way, the article should read: Treasuries are leaking higher in yield as the precious metals coupons are sold. No doubt someone is going to add a few tons of the real deal to their stash following today's paper action.
Don't despair, just buy the dip.
Philly mouthwash Tony Soprano style, 0:45 seconds in - http://www.youtube.com/watch?v=5esvgAm1Fww
3D printing is going to revolutionize the manufacturing industry from a time of inception to manufacturing process. Fewer people working fewer hours when all is said and done. 3D, buy it, invest in it, use it. Not a paradigm shift but indeed revolutionary in current and possible applications.
Buy the real inputs as well, because you will need them to "print" anything and commodity prices will only be higher in the future. The Fed will see to that.
Added to the stack...
Gold is being pummelled but silver is doing fine. Nothing to see here. Please move along.
Guys, don't get emotional or try to rationalize/justify the selling. People are selling silver at a low price and you can buy it. That is a good day. Sure you could have bought more if you bought recently but wtf we're not a bunch of Nostradamus.
I think the stock market rising is killing some people. Get over it, it's got some more room to run for various reasons. You can try to get on the train late and make a 5% return but the risk/reward is skewed so best to wait until the market shows signes of weakness and then put on a good short.
WHO THE FU*%ING HECK IS SELLING??? -40$ IN A FEW HOURS... MARKET MANIPULATION??.. NOPE RIGHT?
The Federallies doing some "Inflation fighting" on options expiration.... Oil down too ,,,, see no inflation anywhere to be found, keep pumping.
TO THOSE WHO ANSWER: "WHY NOT SAY IT IS MANIPULATED ON THE UPSIDE".. WELL HOW DO YOU EXPLAIN THAT "8AM EFFECT" IN EUROPE AND USA?? ANYBODY WHO TRADES ON A INTRADAY BASIS CAN CLEARLY SEE GOLD IS MANIPULATED, AND SMACKED DOWN ON THE DOWNSIDE BY SOME BIG GUNS...
Hoping and praying the sequestration goes through and they stall raising the debt ceiling. I'm a buyer at 26 or lower.
Dont let ¨them¨ get in your head... No matter how much naked shorting they do to bring the price down, dont get negative. I personally am always rooting for AG/AU prices to keep heading south! We know the fundamentals are all there, we know the debt is unsustainable, we know its just a question of time before fiat becomes near worthless. Instead of being bothered by their downward manipulation, be thankful that you can continue to build-up your wealth for a bit longer (and for less money to boot). I´ve been at this for almost seven years, but you know what? Enough is never enough - I want more time. I wish PM´s would go to half their actual value - but I take whatever downward movement I can get to buy as much as I can afford. This morning I bought my number XX monster box for around $16k and right now I´m scraping together what I can to buy another if the price goes down to $29/OZ. People listen to me - Dont be in such a rush to see the price go to the moon - while I´m certain that one day soon it will happen, it should not be something that we desire. When PM´s do take that meteoric rise, it will be because the economy has crumbled. Enjoy what life gives you know, because although we will maintain our wealth by owning alot of physical PM´s, the world itself will be a very different place (mostly for the worse) - and while we who invested wisely will be much better off than the masses, life itself will probably not be the same ever again. Be happy, relax and enjoy the show!
+100.
This is like group therapy.
There's no rush to get to the end game. Its coming soon enough.
It's not manipulation, it's more sellers than buyers LOL - I guess someone is 'manipulating' Apple, and even RIM/BBRY. Zynga is massively manipulated according to your logic...
Funny, no one talks about manipulation when gold goes up, yet everyone talks about nat gas and oil being manipulated on the way up? Can't have it both ways
The market has cracked, you will see aggressive selling until the next support at 1550. Now if THAT breaks, oh boy...
A print of 1475 or below and I can easily see gold have a day where it drops $100-$200 as stops get hit
next support $975, then $425
housewives in india and central banks are trying to get rid of their gold, eh? you are a funny clown.
Which sellers are you talking about? The ones clutching paper lies or the ones with gold and silver buried in their yards?
Who cares what price silver and gold go to? People don't buy them for immediate use or gratification. They buy them knowing that the world economy is sick as a dog and getting worse.
In the meantime, there has been so much lipstick put on the pig's lips (i.e. the economy) that pretty soon they will be applying lipstick around its butt hole to convince fools that the price of gold could go down to $425.
But you are a clever man and I am sure that you are using the fiat you are accumulating in this booming economy to buy houses in Detroit, Government bonds and a new mattress to store the remaining cash so as not to put more pressure on the banks to have to pay you 0.1% interest.
I hope you´re just short and trying to sway longs so you can make some $, because if not - you really need to give up smoking that crack. I understand that shorting is a legal and respectable way to make money but your efforts would be better served concentrating them on those holding paper who are much easier to influence.
---------------------------------------------------
I repeat folks, dont be in a rush for the huge increase in PM´s that will occur in the not too distant future. Take advantage on down days to keep building up your physical inventory. Sadly we know the day will one day come when PM´s skyrocket - but I repeat, its not something we should be hoping for. When that day arrives, times will have changed - probably not for the best
Does anyone remember the Comex a few days ago reducing margin requirements?
If you do, then you now know why.
This alone should alert everyone to the very big and dirty game being played.
It's clear central banks are still buying gold (some of them, anyway). It's also clear that the same banks can and will sell derivatives to push the price to bargain levels. If a CB wants to buy 100 tons of gold it does not need to pay $1900/oz when it can sell paper and make money then buy physical w/ proceeds.
With countries all seeking to depreciate their respective currencies, one of these days one of them is going to succeed! At that point any gold in reserve will be worth more than the 'Brand X' currency held in reserve. Central banks have to hedge their bets: particularly China which holds billions in dollars, euros and yen ... in cash. Best to convert some of that cash into shiny metal.
None of this has anything to do with either inflation or hyper-inflation. The gold people need to get a better grip and jettison the Weimar fixation, it's a dead end.
The Weimar fixation may or may not be a dead end.
What is a dead end, is that governments everywhere are going to stop delivering on their promises and when that happens what do you think will happen to your social security nest egg et al?
History has given us only two items (other than human ingenuity) with which to traverse dangerous times and I can tell you my friend that it's not fiat and it's not government bonds.
By the way, I did not down tick you. An honestly held opinion is still an opinion.
Of course, the news that Soros has been selling is not helping the price either. But personally, I would rather have the exchange rate for fiat dollars to gold/silver be in the direction of more gold/silver per fiatbuck when I am buying.
Soros likes it both ways (gold up or down) hence the reason why his name reads the same in both directions. A few months ago he was heralding a spike in gold prices which did take place.
Soros is a manipulator but he forgets that he cannot manipulate either the price of gold or the certainty of death forever.
His drug of choice is making money and his passion is to be recognised as a great philosopher and philanthropist. Good luck to him but the world knows what he really is.
In the end death takes care of all egos.
Sell your stockpiles of food you've been hoarding and buy gold!
Buy both!
What's the point of US dollar strength?