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Gold And Silver Inverse Slamdown

Tyler Durden's picture


It would appear that someone tripped and flipped the algo switch this morning as the ubiquitous morning slamdown has morphed into a take-off. Perhaps it is no coincidence that every Muppet's favorite banker (cough Goldman Sachs cough) opined on Gold's coming weakness yesterday and that hedge funds are the least exposed to the precious metals on record, which as everyone BUT Goldman knows, is the traditional signal that it is a time to buy. Actually we take that back: Goldman certainly knew it, which is why it has been urgently advising its clients to sell... To Goldman.



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Tue, 02/26/2013 - 12:00 | 3277777 buzzsaw99
buzzsaw99's picture

Everything Harry tells you is a lie. Remember that.

Tue, 02/26/2013 - 12:02 | 3277790 flacon
flacon's picture

Op Ex is behind us. "Stop hunting" is behind us..... the metals are poised to go much higher. 


Tue, 02/26/2013 - 12:19 | 3277891 GetZeeGold
GetZeeGold's picture



When Muppets attack back.

Tue, 02/26/2013 - 12:22 | 3277903 AllThatGlitters
AllThatGlitters's picture

Yep, OpEx behind us and the metals go ballistic. Thanks to whomever pointed that out to me.

Check out silver going VERTICAL on the Live Spot chart:

Tue, 02/26/2013 - 12:41 | 3278004 DoChenRollingBearing
DoChenRollingBearing's picture

And just give gold and silver time...  The PMs are your best diversification against .gov and Fed malfeasance.

Tue, 02/26/2013 - 12:50 | 3278039 ParkAveFlasher
ParkAveFlasher's picture

Called it last week, bitchez.  Hope someone made some money.  As for me, I can only dream of trading because I lost my PMs in a boating accident quite some time ago.

Tue, 02/26/2013 - 12:54 | 3278056 HoofHearted
HoofHearted's picture

FND usually has some volatility associated with it, but next week we should see a real liftoff. 

Tue, 02/26/2013 - 13:08 | 3278095 gmrpeabody
gmrpeabody's picture

I just can't wrap my brain around it..., who would pay GS for their advice?

Tue, 02/26/2013 - 13:33 | 3278202 Silver Pullet
Silver Pullet's picture

I imagine that the people who PAY for their advice get different advice.

Tue, 02/26/2013 - 17:05 | 3279145 SilverRhino
SilverRhino's picture

This quarter screw gold and silver.   I've been buying powder, thousands of bullets and primers (and getting very good deals).   That stuff is like PGM's right now.   

Ammo is outrageous, for some reason the ingredients haven't caught up ... yet.  

1000% yields from 2004 to now are pretty good.   (2004: 5.56 $99/1000  2013: 5.56 $990/1000) 

Tue, 02/26/2013 - 12:26 | 3277925 ABG LINE
ABG LINE's picture


Tue, 02/26/2013 - 12:27 | 3277927 Sophist Economicus
Sophist Economicus's picture

These aren't muppets attacking.  These are muppets getting SQUEEEEEZED....

Tue, 02/26/2013 - 12:35 | 3277958 knukles
knukles's picture

Like I was once told by the Head of Sales at one of the Major Bulge Bracket firms; "You are nothing but inventory to (insert firm's name)"

Tue, 02/26/2013 - 12:36 | 3277966 knukles
knukles's picture

But then again, what was I even expecting?

Tue, 02/26/2013 - 12:48 | 3278036 ParkAveFlasher
ParkAveFlasher's picture

Rogue muppets!

Tue, 02/26/2013 - 12:26 | 3277918 AllThatGlitters
AllThatGlitters's picture

Flacon, are you the one that pointed out Opex to me the other day? If so, thanks!

Gold going straight up on the live spot chart:

Tue, 02/26/2013 - 12:37 | 3277975 Stoploss
Stoploss's picture


Tue, 02/26/2013 - 13:39 | 3278226 StychoKiller
StychoKiller's picture

Coins are quite good at rotation, being round and all! :>D

Tue, 02/26/2013 - 12:03 | 3277795 Xibalba
Xibalba's picture

it's tradition

Tue, 02/26/2013 - 12:26 | 3277921 Winston Churchill
Winston Churchill's picture

WTF ,the tradition is that when Ben speaks PM's go down.

Looks like the paper manipulators might have lost control.

Tue, 02/26/2013 - 12:30 | 3277942 Al Huxley
Al Huxley's picture

Check Friday's CoT reports - the paper managers cleared out the bulk of their short positions last week and transferred the short-side over to the speculators.  They're still in control, just now they're going to manage the price up for a while instead of down.

Tue, 02/26/2013 - 12:04 | 3277803 Skateboarder
Skateboarder's picture

I love asymptotes.

Tue, 02/26/2013 - 22:49 | 3280420 Long_Xau
Long_Xau's picture

Just wait for the discontinuities in the function.

Tue, 02/26/2013 - 12:10 | 3277835 Alpo for Granny
Alpo for Granny's picture

I love the smell of skewered muppet in the morning.

Tue, 02/26/2013 - 14:07 | 3278345 Boozer
Boozer's picture

Granny please scramble me some eggs with a side of muppet....pretty please.

Tue, 02/26/2013 - 14:22 | 3278403 Alpo for Granny
Alpo for Granny's picture

Get outta bed and make it yourself ya drunk.

Tue, 02/26/2013 - 12:23 | 3277904 EscapeKey
EscapeKey's picture

Some lies are richer than others

Bernanke: Exit strategy will not subsidize banks

and this is said merely DAYS after it was revealed that Bank of America received yet another back-door bailout.

Completely unashamed.

Tue, 02/26/2013 - 12:30 | 3277943 Henry Chinaski
Henry Chinaski's picture

Maybe it is true that the exit strategy will not subsidize banks, just nationalize them.

Tue, 02/26/2013 - 12:32 | 3277948 rqb1
rqb1's picture

The open interest in silver at multiyear highs w/ March open interest very high for just a few days left may cause Ben & Co. some sleepless nights. 

Tue, 02/26/2013 - 12:38 | 3277981 knukles
knukles's picture

Oh come on...

It's all just show for the Big Lie, anyway.

Tue, 02/26/2013 - 12:45 | 3278025 buzzsaw99
buzzsaw99's picture

He is only partially lying. There is no exit strategy.

Tue, 02/26/2013 - 15:37 | 3278674 Kirk2NCC1701
Kirk2NCC1701's picture

Bernanke: "Exit strategy will not subsidize banks"

Technically, that's correct.  In a Clintonesque sort of way. They won't be subsidizing many retail banks -- just the shareholders of the Fed itself (GS, JPM...).

Tue, 02/26/2013 - 12:00 | 3277778 jerry685
jerry685's picture

Not yet...but soon

Tue, 02/26/2013 - 12:00 | 3277780 greyghost
greyghost's picture

surely it was something the bearded wonder said

Tue, 02/26/2013 - 12:00 | 3277783 mayhem_korner
mayhem_korner's picture



Any chance Goldman an advance copy of Ben's QE 4Eva Senate speech?

Tue, 02/26/2013 - 12:05 | 3277807 Navymugsy
Navymugsy's picture

Ben's speech leaked? Boy are we cynical or what?

Tue, 02/26/2013 - 12:09 | 3277831 EscapeKey
EscapeKey's picture

got an advance copy?

what makes you think goldman didn't write it?

Tue, 02/26/2013 - 12:36 | 3277969 SafelyGraze
SafelyGraze's picture

Why would anyone want to own gold? It just sits there....

no reply needed

Tue, 02/26/2013 - 12:02 | 3277789 Dr Paul Krugman
Dr Paul Krugman's picture

Why would anyone want to own gold?  It just sits there....

Tue, 02/26/2013 - 12:05 | 3277808 Dr. Engali
Dr. Engali's picture

Funny thing happened to me over the past few years,.... my fiat lost a big portion of it's buying power and all it did was sit there...not doing a thing.

Tue, 02/26/2013 - 12:06 | 3277814 Dr Paul Krugman
Dr Paul Krugman's picture

Thus why you should be making proper investments.

Tue, 02/26/2013 - 12:08 | 3277827 McMolotov
McMolotov's picture

I've put everything I've got into Facefuck.

Tue, 02/26/2013 - 12:12 | 3277856 EscapeKey
EscapeKey's picture

Don't forget 3,500-pe ratio Amazon, and LinkedIn.

Such bargains.

Tue, 02/26/2013 - 13:13 | 3278115 BLOTTO
BLOTTO's picture

Oh, you mean the 'proper' investments the illuminati controlled main stream media tells us?

Tue, 02/26/2013 - 12:12 | 3277849 Temporalist
Temporalist's picture

Nice chart thanks!

Tue, 02/26/2013 - 12:16 | 3277871 ParkAveFlasher
ParkAveFlasher's picture

That chart makes me think that we are actually on a gold standard right now, whether the current body politic wants it or not.

Gold is flowing in the direction of added value.  China manufacturing adds value, thus gold flows there.

Tue, 02/26/2013 - 12:23 | 3277909 francis_sawyer
francis_sawyer's picture

According to the chart ~ China gets to par in less than 30 months [not accounting for what is or already has been emptied out of western vaults]...

Tue, 02/26/2013 - 16:27 | 3278722 Kirk2NCC1701
Kirk2NCC1701's picture

We got two clubs:  The Gold-member club and the Platinum-coin club .  The BRIC & friends are in the Gold club.  The Fed & Friends are in the Platinum coin club.  Both are vying for more members, using soft, hard and even Fricking* kinetic methods in their zero-sum game. 

* 'fricking...' = after Henry Frick

Tue, 02/26/2013 - 12:11 | 3277841 Dr. Engali
Dr. Engali's picture

That is similar to the same thing Corzine was spouting on CNBS before 1.6 billion dollars vaporized under his watch....but you knew that already. 

Tue, 02/26/2013 - 12:18 | 3277884 Gypsyducks
Gypsyducks's picture

Just sitting there gaining purchasing power...

Tue, 02/26/2013 - 13:08 | 3278092 LynRobison
LynRobison's picture

"Thus why you should be making proper investments" such as buying gold!


In truth, gold is not an investment for earning dollars. Instead, gold is a hedge against the collapse of the dollar. When the mathematically inevitable collapse of the dollar finally occurs, no amount of "proper investment" (outside of tangible assets such as gold and silver) will preserve your wealth. 

Tue, 02/26/2013 - 13:50 | 3278249 Pegasus Muse
Pegasus Muse's picture

This Jim Rickards interview is good, especially the last 10 or 12 minutes.

I agree with most his points. However, when he talks about the Federal Reserve’s rationale for creating inflation, Rickards emphasizes the “To Fight Deflation” cover story the Fed uses to justify its Money Printing, rather than coming right out and saying it --- it's to backstop and save the TBTF Wall Street Banksters butts when they blow up like they did in 2007/2008. Backstop the Banks -- that's the Fed's Prime Directive. 



No Way Fed Will Stop Easing: Jim Rickards

Tue, 02/26/2013 - 16:14 | 3278884 Kirk2NCC1701
Kirk2NCC1701's picture

Pegasus Muse (12:50pm),  Thx!  Best Rickards interview in a long time.  Good job Kitco and Daniela Cambone.

Tue, 02/26/2013 - 13:53 | 3278244 TWSceptic
TWSceptic's picture

His point is that gold is money. It's not supposed to be an investment... Fiat on the other hand isn't money. It's just government currency units pretending to be money. With the fed debasing them, stealing purchasing power from the citizens. This is legalized criminal activity.


BTW I think it's funny that some think this is the real Krugman. Everyone knows that he generally doesn't debate sound money / Austrian people. Let alone throw himself to the lions.

Tue, 02/26/2013 - 14:10 | 3278347 Vooter
Vooter's picture

Like, for example, the Brunswick Boat Group...

Tue, 02/26/2013 - 16:43 | 3278528 Kirk2NCC1701
Kirk2NCC1701's picture

Agreed, Mr. Ironic.  'Proper' Investment = Leveraging paper instruments to grow real assets & wealth!

One should leverage revenue streams of fiat-money from properties, businesses, royalties from IP, Copyright and Drilling or Mining + from fiat from leveraged paper instruments.   This fiat-wealth is then cycled back into a feedback loop of growing REAL assets (PM's, farms, mines, land, houses, buildings, commodities).  Assets that not only generate new out-of-thin-air fiat 'money' (actually, digital zeros and ones in your boss' PC), but can actually be used for far more than kindling, wallpaper or toilet paper.  As God intended us to. 

-- Hey, wait a minute, how did this get posted in this place?  I responsed to Paul Krugman's posting of 11:06 AM (comment 3277814), where he said: "

Thus, why you should be making proper investments"

Tue, 02/26/2013 - 12:05 | 3277809 Temporalist
Temporalist's picture

Kinda like PhD economists except infinitely more useful and valuable.

Tue, 02/26/2013 - 12:08 | 3277822 ejmoosa
ejmoosa's picture

Why would anyone want to pay people unemployment?  They just sit there.

Tue, 02/26/2013 - 12:11 | 3277845 Dr Paul Krugman
Dr Paul Krugman's picture

Comparing the human spirit to a rock is quite pathetic.  If we can create employment opportunities then they wouldn't sit there.  Thus why we need to push the economy towards growth.

Tue, 02/26/2013 - 12:16 | 3277869 EscapeKey
EscapeKey's picture

...and if only we somehow centralized job creation, and hence political power in a few hands, then we could run society much more efficiently. Like the Soviet Union.

Or, alternatively - you could allow people to do whatever the fuck they want with their money, and not try to dictate people put it in increasingly higher risk ventures by outright manipulation of base rates and money supply.

Tue, 02/26/2013 - 12:17 | 3277880 ParkAveFlasher
ParkAveFlasher's picture


Tue, 02/26/2013 - 12:26 | 3277922 ejmoosa
ejmoosa's picture

Yes, all the rules, regulations, and taxes are certainly pushing the economy towards growth- Negative Growth.

Tue, 02/26/2013 - 12:44 | 3278016 Freebird
Freebird's picture

Nothing wrong with growth as long as its anchored to something, not just hot air & well, fraud oh great wise one

Tue, 02/26/2013 - 13:44 | 3278242 Vooter
Vooter's picture

"Thus why we need to push the economy towards growth."

The only way an economy grows is if the people living in that economy MAKE SOMETHING that someone else wants to buy or PROVIDE A SERVICE that someone else wants to use. That's it! Pouring fiat currency onto an economy is like nailing large branches and leaves to a sapling and calling it a tree. There's no growth--it's just a baby tree with lots of crap on top of it...

Tue, 02/26/2013 - 16:01 | 3278781 Kirk2NCC1701
Kirk2NCC1701's picture

Paul, there's no need or legitimate basis to Push, Pull or Lift or Slide an economy in a "free market".  In a regulated or manipulated market, Comrade Krugman... your models, postulates or hypotheses (not theories, you scientific hack!) very well might 'lend' themselves to Central Banksters.

Tue, 02/26/2013 - 12:11 | 3277840 EscapeKey
EscapeKey's picture

Because aliens with a gluttonous appetite for gold might just land and bid up prices.

And who knows. Perhaps they eat it, too.

Tue, 02/26/2013 - 12:13 | 3277857 Dr Paul Krugman
Dr Paul Krugman's picture

Haha, exactly.

Tue, 02/26/2013 - 12:26 | 3277924 francis_sawyer
francis_sawyer's picture

I thought the aliens were after our BITCOINS [being all 'advanced technologically superior brainbugs' & all that]...

Tue, 02/26/2013 - 12:29 | 3277941 ParkAveFlasher
ParkAveFlasher's picture

Yeah Bitcoins is great.  You give me your money, and I give you this code.  Don't worry, I don't know what the code is.


Tue, 02/26/2013 - 12:35 | 3277964 francis_sawyer
francis_sawyer's picture

I was thinking more like the SUCK KUT


Tue, 02/26/2013 - 15:59 | 3278575 Kirk2NCC1701
Kirk2NCC1701's picture

Escape Key: Because aliens with a gluttonous appetite for gold might just land and bid up prices.

No, Klingons and other aliens are after our Dilithium Crystals (energy) and Latimum (PM).  Trillion-dollar Latinum coins are now common!  Kirk out.

Tue, 02/26/2013 - 12:13 | 3277860 Kaiser Sousa
Kaiser Sousa's picture

"Why would anyone want to own gold?  It just sits there...."

why would anyone adopt the Avatar of a discredited moron???? He's just a moron....


in other news, ignore the phony paper price movements even at moments like this...there r no markets anymore...just keep stacking all my real money dudes...the debt coupon dollar days r done.......

Tue, 02/26/2013 - 12:23 | 3277907 glenlloyd
glenlloyd's picture

on a similar note even if gold just sits there and does Krugman who sits and does nothing, at least unlike Krugman it doesn't open mouth and spew garbage.

Tue, 02/26/2013 - 12:37 | 3277955 akak
akak's picture


Why would anyone want to own gold?  It just sits there....

You mean, like you?

At least gold does not spout idiocy and lies.

Tue, 02/26/2013 - 13:18 | 3278099 francis_sawyer
francis_sawyer's picture

 Why would anyone want to own bitcoins? They just sit there... [on a microchip]...


I'm going to move to India & start wearing a real big ass BLINGY LOOKIN' microchip necklace... I'll tell all the Indian chicks that it's loaded up with bitcoins... That ought to get me invited to all the hottest parties in Bollywood... They'll be lining up around the block to snort lines of coke off my boner...

In 2014... Daniel Craig is going to star in 'Bond 24' [the yet to be named next entry in the '007' series]... Rumor has it that it's going to be named BITCOINFINGER [with Poindexter von Geekenstein as the villian], who plots to take down Ft. Knox with an EMP pulse...

Tue, 02/26/2013 - 14:18 | 3278382 IrritableBowels
IrritableBowels's picture

ATM machine...

Tue, 02/26/2013 - 15:41 | 3278696 akak
akak's picture

PIN number ......

Tue, 02/26/2013 - 12:37 | 3277965 akak
akak's picture

(Dupe; I blame ZH)

Tue, 02/26/2013 - 13:38 | 3278223 Acidtest Dummy
Acidtest Dummy's picture

Au will be the scapegoat when FRN's failure is admitted, just as hippies smoking pot caused Vietnam to win the war, just as skateboarders cause urban decay. Krugman knows this, he is actively setting the stage. Why else would he be trolling ZH gold threads? Go home PK you're drunk again.


Tue, 02/26/2013 - 13:13 | 3278118 WillyGroper
WillyGroper's picture

If, "It just sits there", why is it that no physical inventory is allowed at Ft. Knox?

If, "It just sits there", why has the gold at West Point gone from reserves to custodial?

If, It just sits there", why the repatriation and massive buys by sovereigns?

Since I have no doctorate or Nobel, would you be so kind as to dumb this down for me?

Many thanks.

Tue, 02/26/2013 - 13:26 | 3278168 Vooter
Vooter's picture

Which would you rather have: Something that just sits there, or something that disappears?

Tue, 02/26/2013 - 13:48 | 3278260 Babushka
Babushka's picture

If you are talking about my wife then sometimes I wish she disappears! don't tell her...

Tue, 02/26/2013 - 14:19 | 3278385 ejmoosa
ejmoosa's picture

You mean like this gold did nothing?  Well, nothing but protect and expand purchasing power for the owner


"Officials discovered the trove neatly wrapped and stored mostly in ammunition boxes stacked on top of each other. There were more than 2,900 Austrian coins, many from 1915; more than 5,000 from Mexico; at least 500 from Britain; 300 U.S. gold pieces, some dating to 1880; and more than 100 U.S. gold pieces as old as the 1890s.

Among the coins were meticulous records of the purchases dating back to at least 1964, when gold averaged about $35 per ounce. The precious metal currently sells for nearly $1,600 an ounce."

Tue, 02/26/2013 - 16:04 | 3278599 Kirk2NCC1701
Kirk2NCC1701's picture

Paul Krugman:  Why would anyone want to own gold?  It just sits there....

Just sits there -- what, like CB economists? /sarc

Tue, 02/26/2013 - 12:02 | 3277793 Sophist Economicus
Sophist Economicus's picture

Gotta get back some of the bullion disgorged from GLD last week

Tue, 02/26/2013 - 12:03 | 3277797 Quinvarius
Quinvarius's picture

For what it is worth, if gold stays at these levels for another 12 months, while QE 3 and 4 continue, it will be a match for the lowest backing of the base money supply that ever took place in 2000.  Target is 3400 in 12 months to bring up to normal for this bull market.  Crazy not to buy.

Tue, 02/26/2013 - 13:37 | 3278218 francis_sawyer
francis_sawyer's picture

I saw your charts the other day [which made total sense]...


This would also imply that:

- Under a rather mundane 50-1 GSR... Ag hits $68

- Under a Ag beta [of ~ perhaps 20-1 ~ which was approached in '11]... Ag hits $170

I sure wish I hadn't taken that boating trip last summer... :-(

Tue, 02/26/2013 - 12:04 | 3277798 Cognitive Dissonance
Cognitive Dissonance's picture

Goldman employs its super duper double secret double cross......again.

<And for the win we have..........>

Tue, 02/26/2013 - 12:25 | 3277917 EscapeKey
EscapeKey's picture

all those articles about "death crosses" etc can safely be ignored. unless you think this is the time of the broken clock.

Tue, 02/26/2013 - 12:04 | 3277799 Navymugsy
Navymugsy's picture

Lots of Au/Ag stocks cratered this morning and then lo and behold, all jumped up about the same time. Why did anybody think Ben was going to stop QE? People are stupid.

Tue, 02/26/2013 - 12:43 | 3278015 Al Huxley
Al Huxley's picture

Becsuse 'the Fed minutes said they might'... And yes, people (at least in the financial media) are remarkably stupid.

Tue, 02/26/2013 - 12:05 | 3277805 BattlegroundEur...
BattlegroundEurope2011's picture

Amazed no one from GS has been "cleansed" yet.


Tue, 02/26/2013 - 12:05 | 3277812 SeverinSlade
SeverinSlade's picture

I thought the gold bull market was over?

Tue, 02/26/2013 - 12:08 | 3277825 Navymugsy
Navymugsy's picture

So if a GS guy like say, Monti loses an election do they rotate him back to the home office and dispose of him? Just curious...

Tue, 02/26/2013 - 12:11 | 3277848 McMolotov
McMolotov's picture

The Squid is always growing new tentacles. One gets cut off and two take its place.

Tue, 02/26/2013 - 12:09 | 3277829 Inthemix96
Inthemix96's picture

I had someone take the piss out of me here the other day as we dont have the RIGHT to carry or own weapons.

I just gave it some serious thought and I am afraid we do own weapons, just not the conventional ones you lucky bastards happen to own.  Me myself owns several Barrnet "Diablos", which are catapults as we call them, I believe you lot call them slingshots, and when firing quarter inch ball bearings I am quite adept at hitting a coke can from 50 yards, silently.

And if all else fails, us lot are inventive when it comes down to it, so as this post is fucking irrelevant to the conversation it just ran through my mind, (sorry for the thread jack), we wont fair to bad here when these fucking criminals need to be sorted out.

Manipulating fucking twats.

Bring this fucker down.

Tue, 02/26/2013 - 12:29 | 3277936 Temporalist
Temporalist's picture

I hear Longbows are all the rage.

Talk about tradition!

Tue, 02/26/2013 - 13:41 | 3278237 oddjob
oddjob's picture

Long silence.

Tue, 02/26/2013 - 15:25 | 3278630 Kirk2NCC1701
Kirk2NCC1701's picture

Nah, I'd pick the Crossbow.  Or, rather, the "Don't-Cross-Me-Bow".

Tue, 02/26/2013 - 12:38 | 3277985 JenkinsLane
JenkinsLane's picture

I favour the Ka-Bar Kukri. With respect to folders, Cold Steel are the only game in town IMO because the lock won't fail

under duress. I think all other much more expensive folders are rubbish because you can have no confidence in their locks

in an emergency situation, which is the one time you need to be confident.


Heinnie Haynes will cover all your needs in this respect.

Tue, 02/26/2013 - 13:46 | 3278251 KnightTakesKing
KnightTakesKing's picture

Just like anything of real value, you'll have to wait for physical delivery:


Tue, 02/26/2013 - 14:36 | 3278441 Boozer
Boozer's picture

Quite all right 96.  I personally enjoy your rants on thread or off.  Also those of

Mr. Sawyer/LongSoupLine/Freddy and a few others.  You guys wake up pissed off and

ready to fight.  Bet it would be interesting to have a few beers together.

Tue, 02/26/2013 - 15:30 | 3278646 Kirk2NCC1701
Kirk2NCC1701's picture

Prediction:  They won't have to outlaw all the low-tech weapons.  They'll just outlaw hunting of large game.  Just like in the Middle Age of Feudalism:  "Thou shallt not hunt any of the king's deer, at the pain of death".  TPTB and their political whores (Lib'tards) will just repackage it as "pro Environment".

Tue, 02/26/2013 - 12:12 | 3277836 MoneyThangs
MoneyThangs's picture

We must not let the threat of austerity bring us down - Our patriotic duty is now clear , we must stand behind Obama and vote for the largest spending program the world has ever seen. Everything will go up, you will have a job and a smoking super hot model girl friend with a nice ferarri, but first Obama needs your service. Together we can beat austerity and live like kings!

Tue, 02/26/2013 - 12:12 | 3277851 Sudden Debt
Sudden Debt's picture

why would I need a girlfriend WITH a Ferarri?


I NEED A FERARRI!! The rest will come by itself :)

Tue, 02/26/2013 - 12:39 | 3277988 Sweet Chicken
Sweet Chicken's picture

An 18 year old Italian girl tells her Mom that she has missed her period for 2 months. Very worried, the mother goes to the drugstore and buys a pregnancy kit. The test result shows that the girl is pregnant. Shouting, cursing, crying, the mother says, "who was the pig that did this to you? I want to know! The girl picks up the phone and makes a call. Half an hour later, a Ferrari stops in front of their house. A mature and distinguished man with gray hair and impeccably dressed in an Armani suit steps out of the of the Ferrari and enters the house. He sits in the living room with the father, mother, and the girl and tells them: "Good morning, your daughter has informed me of the problem. I can't marry her because of my personal family situation but I'll take charge. I will pay all costs and provide for your daughter for the rest of her life. Additionally, if a girl is born, I will bequeath a Ferrari, a beach house, 2 retail stores, a townhouse, a beach front villa, and a $2,000,000 bank account. If a boy is born, my legacy will be a couple of factories and a $4,000,000 bank account. If twins, they will receive a factory and $2,000,000 each. However, if there is a miscarriage, what do you suggest I do?" At this point, the father, who had remained silent, places a hand firmly on the man's shoulder and tells him: "You fuck her again."

Tue, 02/26/2013 - 12:18 | 3277887 Winston Churchill
Winston Churchill's picture

Wot, no brewery,

Tue, 02/26/2013 - 12:10 | 3277837 lemarche
lemarche's picture


Tue, 02/26/2013 - 12:23 | 3277905 lemarche
lemarche's picture

+40$ ON NO NEWS... YUP !!!...

Tue, 02/26/2013 - 12:11 | 3277838 Sudden Debt
Sudden Debt's picture


Tue, 02/26/2013 - 12:21 | 3277898 Cookie
Cookie's picture

drunk already??

Tue, 02/26/2013 - 12:33 | 3277951 Henry Chinaski
Henry Chinaski's picture


Tue, 02/26/2013 - 12:36 | 3277839 Lord Of Finance
Lord Of Finance's picture

Hey Dr. Paul. The "other" Dr. Paul that is.


   It does sit there. It keeps increasing in value, outperforming the stock market year after year.


   Those dollars in your investments just sit there too. Decreasing in value year after year and that is one of the many reasons my metal is just sitting there.


   I heard you call the other Dr. Paul, Ron Paul that is, "disturbing".

I will propose a disturbing question to you. A question that Ron said he wanted to ask you. He asked Mr. Bernanke, but the Bernank gave him the run around.

So I would like to ask of your opinion,


    "Is gold money?"

Tue, 02/26/2013 - 12:12 | 3277843 kaiserhoff
kaiserhoff's picture

Trying to parse that scale, but my eyes and this screen aren't quite up to it.  50/1?  Looks like it might be useful, and I hate charts.

Tue, 02/26/2013 - 12:11 | 3277846 monopoly
monopoly's picture

This is one sick market. Want no part of it....outside of gold, silver, and quality miners. 

Tue, 02/26/2013 - 12:12 | 3277850 A. Magnus
A. Magnus's picture

What?!?! Two days in a row of no monkey-hammer smackdown? Something tells me the White Shoe Boys have other pressing perhaps stocking their Doomsday bunkers and seed vaults for the coming Great Unwind...

Tue, 02/26/2013 - 12:20 | 3277895 Bay of Pigs
Bay of Pigs's picture

They have already done their damage to gold and silver. The crooks are flipping long again and will crush the weak hands who are short.

Tue, 02/26/2013 - 12:12 | 3277855 truont
truont's picture

Goldman tells their clients to sell gold, eh?

Former Goldman Exec blows whistle on his colleagues:

Goldman Sachs employees ask each other “How much money did we make off the client?”

I have seen five different managing directors refer to their own clients as “muppets,”

"What are three quick ways to become a leader? a) Execute on the firm’s “axes,” which is Goldman-speak for persuading your clients to invest in the stocks or other products that we are trying to get rid of because they are not seen as having a lot of potential profit. b) “Hunt Elephants.” In English: get your clients — some of whom are sophisticated, and some of whom aren’t — to trade whatever will bring the biggest profit to Goldman. Call me old-fashioned, but I don’t like selling my clients a product that is wrong for them.  c) push opaque illiquid products"

Tue, 02/26/2013 - 12:13 | 3277858 Hank Reardon
Hank Reardon's picture

Physical offtake meets loo paper

Tue, 02/26/2013 - 12:13 | 3277859 Backspin
Backspin's picture

Ha.  Bernanke just said he likes the approach Japan is taking.  Print enough to prevent deflation.

Tue, 02/26/2013 - 12:17 | 3277876 kaiserhoff
kaiserhoff's picture

It's worked out so well for them, for the last 23 years.

Tue, 02/26/2013 - 12:13 | 3277861 Sudden Debt
Sudden Debt's picture

At least there's no sign of inflation yet... just imagine when that was to happen...

Tue, 02/26/2013 - 12:13 | 3277862 Crash Overide
Crash Overide's picture

With over 300+ billion thrown from the helicopter last month I will trade the bernanke bucks for metal in my hand any day and know I got the better end of the deal everytime. 

Tue, 02/26/2013 - 12:23 | 3277906 Winston Churchill
Winston Churchill's picture

Looks like China is ready for a gold backed currency .

Prolly just waiting on the US to do something really stupid; like an

attack on Iran in June maybe ?

Tue, 02/26/2013 - 12:16 | 3277872 q99x2
q99x2's picture

Copper continues its climb as Goldman corners the market in preparations for massive manipulation.

Tue, 02/26/2013 - 12:19 | 3277893 monopoly
monopoly's picture

No sign of inlfation, good one sudden debt.  LMAO. That is why for rural delivery UPS is now adding a "surcharge" for all packages not paid by Amazon. Gotta luv it.

Tue, 02/26/2013 - 12:20 | 3277896 cccmachine
cccmachine's picture

But but they said it was a 'death cross' in gold

Tue, 02/26/2013 - 13:47 | 3278255 e_goldstein
e_goldstein's picture

Lazarus metal.

Tue, 02/26/2013 - 14:03 | 3278323 Bastiat
Tue, 02/26/2013 - 12:24 | 3277900 kaa1016
kaa1016's picture

I bought puts on GLD 2 weeks ago when it gapped and opened under the 100 week SMA, but now I'm buying 158 calls that expire Friday. The strength yesterday was impressive. It looks like the same way TLT and VXX ripped yesterday, it looks like now it's GLD's turn. 160 - 162 would be a short term target. We'll see...

Tue, 02/26/2013 - 12:24 | 3277911 EclecticParrot
EclecticParrot's picture

It's funny how we tend to assume small, sophisticated groups of Ph.D. math whizzes and physics professors employed by investment banks are deciding each morning, over dishes of greek yogurt laced with seedless blackberry jam and topped with almonds (saltless and unskinned, of course), which buttons to push on the dreaded algos, the timing, amplitude, pivot points to touch, etc.

It may sound crazy, but I've become more and more convinced that, despite the sophistication of the programs (which indeed suggests an accomplished set of individuals constructed them), the actual "switches" are being flipped by the the head guy on either the security or overnight cleaning crew, based on their particular mood that day, if the Knicks won or not, if their paper boys avoided puddles that morning, etc.  This introduces a degree of randomness that actually increases the algorithms' effectiveness, as well insulates top management against any potential charges should HFT and other vices ever be closely scrutinized.

Tue, 02/26/2013 - 12:25 | 3277916 mdtrader
mdtrader's picture

All the people that have been shorting gold recently are taking pain now too, on top of the pain from other markets yesterday. This means more short covering in the gold market, I suspect. :-)

Tue, 02/26/2013 - 12:31 | 3277946 ejblues
ejblues's picture

I always assume, either 1) GS is lying so that they can be on the opposite side of the trade (every trade needs two sides... they need to create a market for the inverse of the trade they want to make), or 2) they are wrong.

So, I think betting against what GS says (not what they actually do) is a reasonably high probability bet. 

Tue, 02/26/2013 - 12:34 | 3277954 americanspirit
americanspirit's picture

I'll bet Ms. Master's shorts are getting tight in the crotch

Tue, 02/26/2013 - 13:13 | 3278108 Canadian Dirtlump
Canadian Dirtlump's picture

by the looks of it a reasonably juicy brear trap was set last week, so it may well be this:

Some douchbag expert momo trader is getting the double knit hugo boss shirt he bought on his visa last week torn off his spindly body after piling some shorts on last friday after a cocaine / martini fueled night out.

Tue, 02/26/2013 - 12:37 | 3277972 orangegeek
orangegeek's picture

Gold climbs $31 in 2 hours. 


Weeeeee!!!!   Do it again uncle Ben.  Do it again!!!

Tue, 02/26/2013 - 12:46 | 3278030 Grand Supercycle
Grand Supercycle's picture

SP500 daily & weekly uptrends simultaneously completing protracted topping process.

Resultant downtrend will have good momentum.

Tue, 02/26/2013 - 12:51 | 3278046 Pareto
Pareto's picture

I was in my favorite store last week when Au & Ag were taking another beatdown.  As I was scoping the rounds for sale, I was quickly informed that they were out of singles.....they had a few sunshines, but, little else.  I would have to buy in 20 lots if I wanted something diffferent.  Second, I asked whether there was a lot of selling, or, anything going on.  He said, HUGE buying.  Opened his receipt book for me.  Both silver and gold coins were being purchased aggressively.  Several invoices showing silver purhcases at $6K to $10K, and some at +$30K.   The sellers were no more no less than usual.

Anyhow the 2 sunshines that i bought, probably put the floor in on silver.....I figure. ha!

I love that store.

be well ZH stackers

Tue, 02/26/2013 - 12:56 | 3278064 CheapBastard
CheapBastard's picture

Must be those dog-gone speculators...where's pelosi?

No, wait, the Iranains...yes, they MUST be behind this...

No, breaking news has it those sneaky Chinese central bankers are loading up again with a few tons while no one was looking...

...or maybe the Indians grabbing 40 tons of the yellow metal?

Tue, 02/26/2013 - 13:33 | 3278198 Canadian Dirtlump
Canadian Dirtlump's picture

the chinese carried out a cyber attack which allowed indian smugglers to send bullion to turkey so it could be used by iran to circumvent sanctions.


policy result will be to bomb iceland, ban the trade of precious metals without a license, and set up checkpoints on every corner.



Tue, 02/26/2013 - 13:12 | 3278110 CitizenPete
CitizenPete's picture

So Bonds it is!

Tue, 02/26/2013 - 13:41 | 3278238 Lordflin
Lordflin's picture

 Andrew Macquire has suggested that shorts have been transferred out of the hands of bullion banks, and into the weaker hands of hedge funds... he was predicting a large move up in the metals this week... Jim Sinclair has stated that banks will move to the long side of the pm market, and that any correction will be over by mid March... latest... Personally, I have been following this market for years and while I do not have the experience of the above mentioned gentlemen, I have seen too much in this market to get my hopes up... instead I will wait and see... On the other hand, my metal doesn't care how it is priced in dollars, and I am not selling anytime in the forseeable future.

Tue, 02/26/2013 - 14:05 | 3278334 Jim B
Jim B's picture

Personally, I am long physical until the spending, bond, stock market ponzi is over....

Tue, 02/26/2013 - 14:24 | 3278407 NoWayJose
NoWayJose's picture

Gold will ultimately win the currency wars, because it will be worth just as much in the future as it does today - in the winning currency. What that means is that gold will be worth a lot more in every other currency - especially the ones that lose the currency wars!

Tue, 02/26/2013 - 13:51 | 3278274 countrygal
countrygal's picture

Looks like the mint might sell a record number of ASE's for February. I know a local coin deal was selling 2013 ASE's for $7 over spot and told by the mint, he wouldn't get more from them until the middle of March. 

Tue, 02/26/2013 - 14:03 | 3278325 geewhiz
geewhiz's picture

I figured when goldman sucks told everbody gold was going down they knew there was nobody left stupid enough to believe them. So they had to be using reverse psychology and planned to paper gold it down to maybe 1550. But nope, gs figured there's still a healthy dose of idiots out there dumb enough to believe what they say and so pulled off thier usual straightforward deception. Just can't guess what color the manipulators are going to rig thier roulette wheel to stop on.

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