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First Bitcoin, Now Gold: All Alternative Currencies Must Be Crushed

Tyler Durden's picture




 

Gold prices just entered a bear market. Down 21% from their mid-2011 highs. Today's drop is the largest since 2/29/12 - LTRO2 and takes the price of the barbarous relic back to July 2011 lows. Silver is also seeing its biggest down-day since LTRO2 as it tests 2012 lows. Must. Destroy. All alternative currencies.

A bad day for commodities...

 

 

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Fri, 04/12/2013 - 10:55 | 3440806 SeverinSlade
SeverinSlade's picture

As China, Russia, and various CBs quietly BTMFD.

Fri, 04/12/2013 - 10:57 | 3440830 DoChenRollingBearing
DoChenRollingBearing's picture

+ 1

Ditto, BTMFD

Fri, 04/12/2013 - 11:01 | 3440843 AllThatGlitters
AllThatGlitters's picture

Karmas a bitch after all the smack I talked on Bitcoin! LOL.

Oh well. There's always next week!

Live Silver Chart continues to plummet:  http://www.pmbull.com/silver-price/

 

Fri, 04/12/2013 - 11:02 | 3440882 johnQpublic
johnQpublic's picture

the only way this doesnt work out well for me is if someone has finally figured out alchemy

Fri, 04/12/2013 - 11:04 | 3440905 Manthong
Manthong's picture

Ah..

So this is what “Whatever it takes” looks like.

Fri, 04/12/2013 - 11:06 | 3440915 Pladizow
Pladizow's picture

What would you not do to protect your printing press?

Fri, 04/12/2013 - 11:08 | 3440929 NoDebt
NoDebt's picture

What would you do for a Klondike bar?

Fri, 04/12/2013 - 11:08 | 3440944 GetZeeGold
GetZeeGold's picture

 

 

Blue Light special.....if you didn't have any real money.....now is your chance.

Fri, 04/12/2013 - 11:14 | 3440992 fonestar
fonestar's picture

OMG!!  Bitcoin is "crushed", "destroyed", "anhilated", "popped", etc, etc... (to the point where it is still much higher than January).

Oh well, I guess we can always go back to mailing each other gold bars.  Delivery is pretty quick and if you need to make change?  Well, there's a criminal banking branch near you!!

Fri, 04/12/2013 - 11:17 | 3441015 Fukushima Sam
Fukushima Sam's picture

People selling paper gold to buy more stocks. Idiots.

Fri, 04/12/2013 - 11:23 | 3441031 BaBaBouy
BaBaBouy's picture

Looks Like ...

ECONOMY Is Fucked. How Will They Gloss That ???

Fri, 04/12/2013 - 12:09 | 3441343 Harlequin001
Harlequin001's picture

It must be costing the Fed et al an absolute fucking fortune hitting the pms almost every day like this. There's no way they can keep this up. They can do it for so long and then they have to let it blow just like they did from $680 all the way up to $1900.

I remember the last time they beat it down to $700, repeatedly they went through every level of resistance all the way from $1000+ till everyone was concentrated at long term support at $716, everyone, and Merril's computer just like Goldmans' knew it.

Then bugger me if it didn't pop down past $700 just long enough for Golman et al to clear out its muppet stock at support (which is very short term for a computer, like milliseconds) before bouncing back to $825 in a matter of seconds, literally about 60. That was the clearout hit that was and so is this. It's gonna bleed but the bounce will be huge if you can hang on to your stash... The last one started at 700 and went to 1900, this one starts at 1600 and goes to ..where? I wouldn't mind betting that $3000 is easily on the cards this time and maybe $100-150 for silver...

It's hard to be sure of anything in a manipulated world unless of course, you have a seat on the board of the Fed...

Fri, 04/12/2013 - 12:20 | 3441411 Lore
Lore's picture

This is something more. This smacks of outright desperation.

Somebody has REALLY, REALLY messed up somehow, and they need the market to cough up physical FAST.

NEXT WEEK COULD BE INTERESTING.

Fri, 04/12/2013 - 12:23 | 3441421 Rubicon
Rubicon's picture

Sinclair said what??

Fri, 04/12/2013 - 13:07 | 3441677 Silver Bully
Silver Bully's picture

'Sinclair said what??'

 

-He said do nothing. Absolutely nothing.

-If you haven't bought on margin, you have nothing to worry about.

Disclaimer: I bought gold sub $1200 and silver sub $16 a few years ago. I'm not sweating, and nor should anyone else who hasn't done anything stupid.

Fri, 04/12/2013 - 13:21 | 3441748 James_Cole
James_Cole's picture

I bought gold sub $1200 and silver sub $16 a few years ago. I'm not sweating, and nor should anyone else who hasn't done anything stupid.

WGC report showed a weakening PHYS market, yet no one on here would believe it.

If you bought at $1200 great, but you've lost out on highs above $1900 if you didn't sell. PMs should be bought and sold seasonally. But no, better to just hold forever and never take profit - great investment strategy!

Fri, 04/12/2013 - 14:08 | 3441956 Imminent Crucible
Imminent Crucible's picture

Looks like you didn't get the Carmen Reinhardt memo.

Fri, 04/12/2013 - 14:10 | 3441957 BTFDemocracy
BTFDemocracy's picture

BTMFD? I need a new screen name.

Fri, 04/12/2013 - 14:36 | 3442089 robobbob
robobbob's picture

depends if you are investing or insuring. 2 completely different activities.

Fri, 04/12/2013 - 14:37 | 3442097 James_Cole
James_Cole's picture

depends if you are investing or insuring. 2 completely different activities.

Should be thought of as the same thing on a personal level. 

Fri, 04/12/2013 - 23:37 | 3443986 Scarlett
Scarlett's picture

TIER 1 ASSETT, IMBECILE

Fri, 04/12/2013 - 17:48 | 3443051 DosZap
DosZap's picture

Rubicon

Sinclair said what??

He said as things get into the SHTF stage to be prepared for 2-$300.00 an hour/days swings in Au.

No surprises here.

Fri, 04/12/2013 - 12:59 | 3441638 Bananamerican
Bananamerican's picture


A rising gold price blurts the unpleasant truth that a national currency is being poorly managed and that its purchasing power is being inflated.

This reality is made clear by former Federal Reserve Chairman Paul Volcker. Commenting in his memoirs about the soaring gold price in the years immediately following the end of the gold standard in 1971, he notes: "Joint intervention in gold sales to prevent a steep rise in the price of gold, however, was not undertaken. That was a mistake."

an oldie but a goodie

Sat, 04/13/2013 - 13:48 | 3444786 Anasteus
Anasteus's picture

It is costing the Fed et al nothing as they create digits out of thin air. However, they can't do it for so long as the physical supply is drying up; in fact, the lower price the more physical buying takes place. Once there is no gold available, the spot price becomes irrelevant. So, if the FED et al miss the point it will cost them everything.

Fri, 04/12/2013 - 11:32 | 3441114 fonestar
fonestar's picture

I don't know anyone buying stocks.  But that seems to be the illusion they are trying to push.

Fri, 04/12/2013 - 12:14 | 3441370 syntaxterror
syntaxterror's picture

80% of the trades are made by high frequency traders and the average hold time, if you want to call it that, is less than a second. Going long on a stock now means owning it for 2 minutes.

So, unless you hang out with high frequency traders, you probably won't meet anyone that buys stocks. LOL.

Fri, 04/12/2013 - 15:41 | 3442394 debtor of last ...
debtor of last resort's picture

There are no stocks. Only subprime stocks. Everyone should own stocks.

Fri, 04/12/2013 - 11:21 | 3441032 dick cheneys ghost
dick cheneys ghost's picture

spoken like a true Vinklevoss

Fri, 04/12/2013 - 12:01 | 3441271 silverserfer
silverserfer's picture

yes, buy a volitole unbacked digital currency to trads for another unbacked currenct that can be traded in the same manner brilliant idea dipshit!

Fri, 04/12/2013 - 12:53 | 3441608 fonestar
fonestar's picture

Your brain is backed by nothing.  Not redeemable for gold, tungsten or original thought.

Fri, 04/12/2013 - 14:49 | 3442152 silverserfer
silverserfer's picture

that's odd my brain tells me that you're quite butthurt and have to stand while you type. What a sad place you must be in to be a bitcoin supporter. My condolences. 

Fri, 04/12/2013 - 15:46 | 3442418 fonestar
fonestar's picture

You're right.  All of us in the Bitcoin community finds themselves devestated and butthurt since Bitcoin took a 60% hit in terms of FRN.  The guys on #bitcoin-dev are giving up disheartened.  MtGox is closing up and so is btc-e.com and localbitcoins.  All of the nodes are dropping like flies.  Bitcoin could have been great but now it is all over!  All in ruins!  Those DDOS attacks killed the whole damn thing!  We were so stupid to believe this could have ever worked out!

Fri, 04/12/2013 - 16:16 | 3442573 Simplifiedfrisbee
Simplifiedfrisbee's picture

I can see the liking in the concept of bitcoin, although not as proven and wise as gold and silver. But this game, once a person participates within it(even the bums do), is not meant for speculation. I could give a thought to the FRN price of bitcoin, gold, and silver or I could give a fart less what FRNs are trading for pms. When I came on to ZH, I learned this is not for the weak. Step up and be ready or sit down and wait patiently, but don't panic. Be men and be women. Don't be so easily shifted as the chess masters would like.

Sat, 04/13/2013 - 13:27 | 3444733 Anasteus
Anasteus's picture

What are you talking about, dude? Everything is running properly, all sites are up and functional.

Fri, 04/12/2013 - 15:53 | 3442462 JimBowie1958
JimBowie1958's picture

I dont think anyone is butthurt except for the speculators who dove in to PTC just  like the have in PMs and drove the prices way up speculating further rise. Then when they realized that their advisor was mistaken, they then panicked and dumped.

Dude, 8 years ago silver over $20 would have been a wet dream. Same goes for BTC going over $70 last March 1.

I doubt both have not found those prices as a new floor to trading them.

The central bank bastards are going after EVERYONE, but even after their ham-handed attacks, anything other than fiat looks pretty damned good to me.

Fri, 04/12/2013 - 12:12 | 3441358 Opinionated Ass
Opinionated Ass's picture

Oh well, I guess we can always go back to mailing each other gold bars.

Bill brokers and dealers in exchange bitchez. If it worked in 1849 it'll work in 2049. Or now.

"Now by far the greater part of all their purchases are made without the transmission from country to country, or from merchant to merchant, of a single ounce of silver or gold, or without the money of the state being used, in their vast transactions. They are all liquidated by bill brokers and dealers in exchange." http://davidmhart.com/liberty/EnglishClassicalLiberals/TheEconomist/Hodg...

Fri, 04/12/2013 - 12:55 | 3441622 fonestar
fonestar's picture

Enjoy your trip back to 1849.  Be sure to send a postcard.

Fri, 04/12/2013 - 14:30 | 3442060 akak
akak's picture

Spoken like a true geeksquad trendsucking doofus without an iota of historical knowledge or appreciation.

Fri, 04/12/2013 - 11:15 | 3441000 Divided States ...
Divided States of America's picture

It will be the fuckin Dow's turn next week....its call rotation

Fri, 04/12/2013 - 11:17 | 3441014 EscapeKey
EscapeKey's picture

no, it won't.

bernanke stands ready to buy equities (and bonds) in ANY quantity, should either of those drop.

Fri, 04/12/2013 - 11:16 | 3441010 BaBaBouy
BaBaBouy's picture

These Fuckers Whill Stop At Nothing ...

First The False CYPRUS Sale Bullshit From Rotters ...

Now The Comp BOTS Are All Cranking Sells...

Fri, 04/12/2013 - 12:19 | 3441391 CoonT
CoonT's picture

Here's to waiting on the sideline's, cash in hand :) :) :)

Fri, 04/12/2013 - 11:09 | 3440956 McMolotov
McMolotov's picture

Just realized "Klondike Bar" would be a great name for a lesbian tavern in the Yukon.

Fri, 04/12/2013 - 11:10 | 3440966 johnQpublic
johnQpublic's picture

what would you do oo oo

at the klon dike bar!

Fri, 04/12/2013 - 11:17 | 3441009 johnQpublic
johnQpublic's picture

at apmex :

how is it the price of gold is falling, but the price of the coins i'm watching are going up?

 

try it and keep hitting refresh

Fri, 04/12/2013 - 11:40 | 3441147 fonestar
fonestar's picture

Smart people are getting out of paper and into the phyzz.  That's what I would expect to see right before things really blow up... falling gold prices.

Fri, 04/12/2013 - 12:07 | 3441330 francis_sawyer
francis_sawyer's picture

'That's what I would expect to see right before things really blow up'

~~~

fonestar [THE GREAT] has spoken...

Other great prophecies from this market Titan...

"Ill be buying the dip [bitcoin] at $500"

~~~

The skateboard shop is conveniently located next to the Lambo dealer...

Fri, 04/12/2013 - 12:17 | 3441389 fonestar
fonestar's picture

Fonestar shall not desert you my child

Fri, 04/12/2013 - 12:46 | 3441571 francis_sawyer
francis_sawyer's picture

Got any good tips on when I should transplant my Roma tomatoes, what the pH levels of the soil I need to produce the best artichokes, the PSI I need in my valves for optimal water pressure & irrigation, the energy it'll take to lift "x" foot pounds of water from my well, what chains I should use to lift an engine block, what knife I should use to skin, what knife I should use to bone, how to raise or lower the humidity in a food cellar, how long I have to age wood, where I should safely store 100lb propane tanks, how to keep wild rabbits [or any other animal, insect, fungus, or bacteria] off my produce, what the heat differential of a Hugelculture bed will produce, what are the best caliber/accuracy definitions for various distances, how to tie knots...

Anything?... Anything at all????

Fri, 04/12/2013 - 12:59 | 3441639 FEDbuster
FEDbuster's picture

Rolls of pre-65 quarters should be under $200 FRNs this weekend at the local swap meet, yummy!   Bought 1K rounds of 7.62x39 HP last week for $400. delivered.  Getting going in the garden this week, fruit trees are blooming.  Life is good.

BTW did the Bernak announce an end to QE3?  When he stops printing a trillion FRNs a year, I'll slow down on my FRN to physical silver and other hard asset conversion. 

Fri, 04/12/2013 - 13:10 | 3441696 fonestar
fonestar's picture

I see, more of the "either/or" dichotomy from the black and white think tank.  You can either be a software guy or a hardware guy, you can play the piano but you can't swing a hammer.  You can be smart or you can be tough.  What a small, secluded universe you occupy!  Let Satoshi free your mind!

FYI, I've done a bit of gardening in the past, I am a marksman that owns a variety of rifles, built a cabin and a meat cache, have taken wild game including stone sheep and caribou.  I know what it means to haul a ruck sack filled with gear off a mountain, fight off hypothermia as well as configure load balanced routing and work with virtual machines.

Fri, 04/12/2013 - 13:45 | 3441853 quasimodo
quasimodo's picture

Well then, a big fat fucking pat on the back for you!

Fri, 04/12/2013 - 15:51 | 3442451 francis_sawyer
francis_sawyer's picture

The VIRTUAL 'Life & Times of Grizzly Adams' ... [on 2nd LIFE]... on display...

Fri, 04/12/2013 - 14:52 | 3442165 viahj
viahj's picture

"I see, more of the "either/or" dichotomy from the black and white think tank", project much?

Let's see you called us cavemen for not getting into BTC and that because we didn't we supported TPTB and the Fed's printer all the while procaliming every rise of BTV when denominted in $. 

Fri, 04/12/2013 - 15:28 | 3442327 fonestar
fonestar's picture

No, I called you cavemen for believing that the clock is going to start going backwards after the USD crashes.  Techonology is going to go on just fine without the USD.  I said you constantly compare silver-FRN and in so doing, validate and legitimize the USD & FRN.  What you should be doing is withdrawing support for USD/FRN and if you don't like Bitcoin, fine.. but then use a local currency or something else.

Fri, 04/12/2013 - 15:37 | 3442380 Hulk
Hulk's picture

i

t

s

v

e

r

y

t

h

i

n

i

n

m

a

r

g

i

n

l

a

n

d

.

.

.

 

 

Fri, 04/12/2013 - 17:14 | 3442935 DosZap
DosZap's picture

fonestar

Dude you have a set, after the ENDLESS diatribes prior to yesterdays Bawney Fwank takedown, you were mercilessly pounding the PM owners.

So where did Shitcoin getcha?.

Fri, 04/12/2013 - 15:01 | 3442212 silverserfer
silverserfer's picture

fonestar this isint e-harmony for goatherders

Sat, 04/13/2013 - 03:29 | 3444158 Simplifiedfrisbee
Simplifiedfrisbee's picture

Fonestar, you "graduated" from peacecorps ehh?

Fri, 04/12/2013 - 15:56 | 3442476 JimBowie1958
JimBowie1958's picture

But he is right, or seems to be from here.

Desperate hedge fund managers, brokers and other market participants will sell their gold in a bad crisis to make their margin calls for additional equity, wouldnt they?

 

Fri, 04/12/2013 - 16:51 | 3442823 TraderTimm
TraderTimm's picture

@francis "random bold tilde" sawyer

I see the moonbase is sending you signals again. Did they mention gold being dead? No? You mean markets can decline and it isn't over?

Amazing.

Fri, 04/12/2013 - 11:52 | 3441192 draug
draug's picture

The gold will rise again! (official goldbug credo)

Fri, 04/12/2013 - 12:04 | 3441292 Mine Is Bigger
Mine Is Bigger's picture

My perspective is "The fiat will fall again."

Fri, 04/12/2013 - 12:09 | 3441346 francis_sawyer
francis_sawyer's picture

yeah but that depends on what the definition of the word "IS"... is...

Sun, 04/14/2013 - 05:05 | 3446115 Long_Xau
Long_Xau's picture

Exactly. This gold manipulation just proves how volatile even the "world reserve currency" is.

Fri, 04/12/2013 - 17:04 | 3442888 DosZap
DosZap's picture

at apmex :

how is it the price of gold is falling, but the price of the coins i'm watching are going up?

 

try it and keep hitting refresh

 

BECAUSE THEY ARE SCREWING YOU.

Fri, 04/12/2013 - 11:12 | 3440974 onewayticket2
onewayticket2's picture

gotta get the price down before confiscation.....they dont want to pay up, you know.

Fri, 04/12/2013 - 14:34 | 3442084 nugjuice
nugjuice's picture

Meh, they won't confiscate. At least not yet. You can't take peoples' gold while they still have guns. It goes take guns - take gold...in that order.

Meanwhile, the price will keep going down.

But who cares? Gold shouldn't be a trading vehicle. It should be a long term store of value in a physical form that is impervious to printing, hacking, or manipulation. It's something that you buy and hold for 20 years...hell, forever, as panic insurance.

Sat, 04/13/2013 - 12:13 | 3444564 onewayticket2
onewayticket2's picture

There is already history in the USA of confiscation.

See: Gold Confiscation act of 1933. (4 yrs after the crash, btw). Which would equate to right about now.

Fri, 04/12/2013 - 12:00 | 3441263 SoilMyselfRotten
SoilMyselfRotten's picture

No McMolotov, that would be a Blondike Bar.

Fri, 04/12/2013 - 12:11 | 3441355 francis_sawyer
francis_sawyer's picture

natural? ~ & how can you tell if they shave & tattoo their pussies?

Fri, 04/12/2013 - 14:11 | 3441966 tenpanhandle
tenpanhandle's picture

gotta wait until the thaw.

Fri, 04/12/2013 - 11:11 | 3440973 Irelevant
Irelevant's picture

This is paper price. Paper price is going to ZERO fast. We are not looking at the right prices. Who wants to buy GLD shares?! This is not "manipulation" this is massive selling of paper from people that are going into physical.

Fri, 04/12/2013 - 11:17 | 3441013 RebelDevil
RebelDevil's picture

If people are going into physical, then why isn't it accounted for in the price?

Fri, 04/12/2013 - 11:21 | 3441039 Irelevant
Irelevant's picture

The entire post is dumb. Gold is not a ”currency”, per the words of JP Morgan „money is gold and nothing else”. Gold is a store of value, gold and silver are the only forms of money that have been accepted as such for over 6000+ years.

The COMEX price of gold is irrelevant, people are selling paper promises (gold) - thus crashing the price - and buying physical.

Remember 1999, the low point, the UK sold 400 tones of the stuff at the lowest price.

Remember ANOTHER, for a long time the price of gold will not be known and no one will sell.

Paper is going to 0. COMEX price is going to 0. The vaults are empty, there is nothing to take delivery on, smart money know this, they are not shorting gold, they are shorting worthless pieces of paper with gold written on them.

Fri, 04/12/2013 - 11:34 | 3441118 mkgone
mkgone's picture

I guess that's correct and the gold hype that existed at the top of the gold chart will become once more a point where dumb money went long :D.

Fri, 04/12/2013 - 12:15 | 3441375 francis_sawyer
francis_sawyer's picture

'The entire post is dumb. Gold is not a ”currency”'

~~~

Thank God someone finally had the wisdom to say it...

Fri, 04/12/2013 - 11:54 | 3441210 draug
draug's picture

Because gold always goes up stop coming with rational arguments lalalalala

Fri, 04/12/2013 - 12:53 | 3441607 defencev
defencev's picture

If people are going into physical, then why isn't it accounted for in the price?

This is a very good question. They will come up with tons of various explanations (multiples of paper gold and now even more bizzare: Japanese banks sold their physical gold (as if they ever had any substantial holdings)). The truth is that Gold peaked around 2000 per ounce and you will need to wait for another 50 years to see it going higher. I do hold some physical Gold and I am not selling it. I will buy more if the price is right but it is a part of diversified portfolio (which , however, does not include garbage like bitcoins or US government bonds). Instead of reading the garbage like blogs here try to follow investors with proven record like Faber or Gundlack. Never invest based on Vodoo, ideology or religious beliefs.

Fri, 04/12/2013 - 13:13 | 3441716 akak
akak's picture

Yawn

Fri, 04/12/2013 - 13:37 | 3441813 fiftybagger
fiftybagger's picture

ROTFLMAO

Fri, 04/12/2013 - 15:56 | 3442480 debtor of last ...
debtor of last resort's picture

You have to add: Yet.

Fri, 04/12/2013 - 11:42 | 3441153 samcontrol
samcontrol's picture

and miners are not physicall

Fri, 04/12/2013 - 18:33 | 3443173 Ludwig Van
Ludwig Van's picture

"This is paper price. Paper price is going to ZERO fast. We are not looking at the right prices. Who wants to buy GLD shares?! This is not "manipulation" this is massive selling of paper from people that are going into physical."

Bingo! The decoupling is nigh.

.

Fri, 04/12/2013 - 11:13 | 3440975 TeamDepends
TeamDepends's picture

It's almost Game Time, boys!

Fri, 04/12/2013 - 11:38 | 3441138 marathonman
marathonman's picture

When it's game time, it's pain time Baby!

http://www.youtube.com/watch?v=tbSpAsJSZPc

Fri, 04/12/2013 - 11:49 | 3441190 TeamDepends
TeamDepends's picture

Sadly, it's going to be much worse than that for Joe Sixpack and Irene Iphone when the big boys go all in.

Fri, 04/12/2013 - 11:13 | 3440997 Fox-Scully
Fox-Scully's picture

The Gold one or the Ice Cream one?

Fri, 04/12/2013 - 11:42 | 3441166 bernorange
bernorange's picture

Does it come with an assay certificate?

Fri, 04/12/2013 - 11:07 | 3440939 outamyeffinway
outamyeffinway's picture

Methinks this is the market pricing in Obamer's new CPI scheme.

Fri, 04/12/2013 - 11:07 | 3440941 nope-1004
nope-1004's picture

Bingo.  It's a fascist economic system, with fake price discovery.  If you sell these smacks, banks will happily buy.  Don't be foolish.

 

Fri, 04/12/2013 - 11:13 | 3440985 DoChenRollingBearing
DoChenRollingBearing's picture

Correct!  Selling your gold now would be about the worst possible mistake (financial anyway...) one could make.  Buy more, or at least hang on for the ride.  We may be getting close to paper - physical divergence.

Fri, 04/12/2013 - 11:54 | 3441221 draug
draug's picture

That's what people said about BTC just a couple of days ago.

Fri, 04/12/2013 - 12:12 | 3441367 DoChenRollingBearing
DoChenRollingBearing's picture

Gold > Bitcoin

Fri, 04/12/2013 - 12:17 | 3441383 Herd Redirectio...
Herd Redirection Committee's picture

Selling Bitcoin at the top = smart.

Selling your gold at the lows = not smart.

Who ever told you not to cash in your bitcoins is who you should be upset with, not people telling you to hold onto your gold.

Fri, 04/12/2013 - 12:35 | 3441502 gtb
gtb's picture

Are you comparing bitcoins to gold?

Fri, 04/12/2013 - 11:08 | 3440949 El Viejo
El Viejo's picture

First: Dr. Copper

Then: WTI and Brent and then signs in China.

Then FedEx and then Intermodal Rail.

Gold and Silver slowly reacting as well.

When will the market wake up?? Any ideas on timing?? Are earnings reports bogus??

Fri, 04/12/2013 - 11:17 | 3441018 RebelDevil
RebelDevil's picture

I say the market wakes up when the physical supply dies!

Fri, 04/12/2013 - 11:07 | 3440925 BaBaBouy
BaBaBouy's picture

SIGNED: SackMan GOLD.

 

And Courtesy ...

Ben Shalom

Fri, 04/12/2013 - 11:36 | 3441131 Canadian Dirtlump
Canadian Dirtlump's picture

The gay bastards in charge have fecal alchemy wrapped up. Everything they touch turns to shit.

Fri, 04/12/2013 - 13:02 | 3441653 Canadian Dirtlump
Canadian Dirtlump's picture

Would the gay bastard who downed me please stand up ( put your goddamned pants on first).

 

Looks like I'll have to buy a fukking tube of maples today.

Fri, 04/12/2013 - 13:21 | 3441720 akak
akak's picture

Perhaps you got downvoted for your offensive, flippant and extraneous use of the word "gay".

What is with all the rampant homophobia around here lately, anyway?    I guess the Jewbashing was not enough bigotry for some?

Fri, 04/12/2013 - 13:28 | 3441787 thisandthat
thisandthat's picture

Maybe it was for his, to quote you, "offensive, flippant and extraneous" use of the word "bastards" (a well known and ancient ad hominem insult, with no actual scientific basis to back it up)...

Fri, 04/12/2013 - 17:00 | 3442869 Overfed
Overfed's picture

Maybe the bastards didn't like the implications regarding their happiness?

Fri, 04/12/2013 - 14:19 | 3441992 TheAlchemist
TheAlchemist's picture

Leave me out of this.  I'm sitting better and better every week.

Fri, 04/12/2013 - 11:26 | 3440897 Max Hunter
Max Hunter's picture

Thanks again Uncle Ben! You have unwittingly increased my Long Long term paper position by 50% with your predictable hammer downs.. Now when you lose control, I will become rich for a relatively small investment.. Probably how you did it too.. so let's celebrate together.. 

Fri, 04/12/2013 - 10:59 | 3440858 Fire Cat
Fire Cat's picture

I guess this opportunity is why I was supposed to keep FIAT on the sidelines...

Fri, 04/12/2013 - 11:05 | 3440907 walküre
walküre's picture

right. can Cypriots or French buy the dip? don't think so unless they hoarded cash at some point.

down, down, down then UP UP UP AND AWAY = RESET

Fri, 04/12/2013 - 11:15 | 3441006 Telemakhos
Telemakhos's picture

Cypriots are selling.  Or, more specifically, everyone knows that Cyprus is going to sell a specific, EUR-denominated amount of gold.  The dip you see now is everyone else frontrunning them, driving down the price relative to the EUR (and, en passant, everyone else) so that the Cypriots are forced to sell the maximum amount of gold to achieve their target amount of Euros.

Fri, 04/12/2013 - 11:18 | 3441019 EscapeKey
EscapeKey's picture

it's pretty telling that we get these kind of drops in commodities but NEVER in equities.

Fri, 04/12/2013 - 12:49 | 3441589 AllWorkedUp
AllWorkedUp's picture

Hard to see how the Cypriots are selling something that hasn't been in their possession forever. No, it's been extorted, leased, re re hypothecated for years. It doesn't exist. The only thing that's happening is they are being reimbursed for something that is long gone.

 

 All that being said. Owning gold stocks has been worse than holding tech in 2001. I don't see how this ever ends.

Fri, 04/12/2013 - 14:38 | 3442109 Urban Redneck
Urban Redneck's picture

Perhaps you weren't holding (and adding to) gold positions through 08-09...

That ended just fine... but there are people still waiting on NASDAQ 5K again.

 

Sat, 04/13/2013 - 01:34 | 3443582 Lore
Lore's picture

IF THIS DOESN'T MOTIVATE EUROPEANS TO WAKE UP AND STAND AGAINST THE TROIKA, WHAT WILL?  WILL OTHER NATIONS ROLL OVER WHEN THEIR TURN COMES?

Fri, 04/12/2013 - 11:05 | 3440917 DoChenRollingBearing
DoChenRollingBearing's picture

It is never a bad idea to keep three months or so of FIAT$ on hand for emergencies, or even opportunities.

Fri, 04/12/2013 - 11:13 | 3440990 Fire Cat
Fire Cat's picture

The emergency FIAT$ is not in the trading account. It's there, just not in the correct account. But good tip nonetheless! =P

Fri, 04/12/2013 - 12:13 | 3441374 Hard Assets
Hard Assets's picture

Please help me understand !

Apparently the 'stock market' sets new highs every day because Bernanke bucks are flooding in.

Okay.

So why is gold getting hammered? Does the same reasoning not apply?

Mad as hell !

The business channel is saying Crypus is selling their gold.

1) that news is a couple days old, isn't it?

2) how much do they have? 50 oz's ? WTF?

(Was watching Nat Gas bounce off 4.05-4.10 for a week or more, went short, 15 seconds later Goldman Sux Cox announces they see NG going to $4.50. I'm telling ya, one of these days people are going to SNAP. If 'THEY' keep f**king with us day after miserable day, people are going to SNAP !)

Fri, 04/12/2013 - 13:49 | 3441873 Citxmech
Citxmech's picture

This is because the moneymasters want to supress the price of physical to keep the ponzi afloat, but they also know that in the end, physical will be the only game left in town - so they want it as much as we do.

So, they surpress the price of phys by using paper shorts on the ETF markets and stack to the moon so they're insured for the eventual endgame.

Fri, 04/12/2013 - 14:48 | 3442148 Urban Redneck
Urban Redneck's picture

Professionals get in and get off on public fear.

Amateurs get out on public fear.

As an added incentive, those on the precipice (whether of a 99-week cliff, by virtue of cash frozen in Cypriot bank hell, or that easy-money low-interest leverage from the rigged-market broker) are forced to liquidate even more of their gold in order to make ends meet. 

 

Fri, 04/12/2013 - 11:03 | 3440835 AllThatGlitters
AllThatGlitters's picture

Hah, like I said, Karma's a bitch after all the smack I talked on Bitcoin yesterday!!

Live gold chart still plummeting too:  

http://www.pmbull.com/gold-price/

 

Oh wait, that isn't 60% in a matter of hours!

Fri, 04/12/2013 - 11:02 | 3440839 Bearwagon
Bearwagon's picture

FTMFF  =  For The MotherFucking FIAT

Fri, 04/12/2013 - 11:00 | 3440851 CClarity
CClarity's picture

To remain in charge we must control the means of transactions - we must control the currency debasements. Our biggest fear is that barter will become the people's choice.
- your Central Banking Cartel

Fri, 04/12/2013 - 11:01 | 3440852 CClarity
CClarity's picture

Oops double post. Sorry

Fri, 04/12/2013 - 11:01 | 3440884 zorba THE GREEK
zorba THE GREEK's picture

Toilet paper is now worth more than real money.....hmmm...makes you wonder..what's next?

Fri, 04/12/2013 - 11:05 | 3440891 SMG
SMG's picture

You know I have my doubts about bitcoin, but why the Oligarchy is attacking it so much, makes me think.  Maybe this bitcoin current version isn't the answer, but I wonder if a decentralized gold/silver backed version of bitcoin would be the answer.  Maybe having gold/silver for local transactions and a version of a backed bitcoin to transfer long distance.   Someway to keep the banks grubbly little fingers off the people's wealth.  Something like that, just thinking out loud.

Fri, 04/12/2013 - 12:23 | 3441425 francis_sawyer
francis_sawyer's picture

decentralized gold/silver backed version of bitcoin would be the answer.

~~~

'DECENTRALIZED'???... BACKED???

For chissakes you motherfuckers are stupid...

All I heard for a months was about how physical gold holders were 'DINOSAURS' & how 'DIGITAL BITCOIN' was the shit...

Now you're fucking moonwalking & saying that bitcoin needs to be 'BACKED'... Oh yeah, by what?... Gold... But wait... It needs to be DECENTRALIZED... So yeah... Let's just BACK it all by the SATOSHI BULLION BANK... You know... that 'Satoshi' dude, who is an invented name & nobody has ever heard from...

I'm confident he has all the bricks stacked up right there in his own Ft. Gox/Knox... Trust us... It's there...

The fucking stupidity never ends...

Fri, 04/12/2013 - 12:33 | 3441496 Croesus
Croesus's picture

@ francis sawyer:

This is why I enjoy reading your posts.....

 

Fri, 04/12/2013 - 11:08 | 3440931 Kaiser Sousa
Kaiser Sousa's picture

Gold just hit 1492.00

Silver 26.20...

this is so funny...

they r so stupid...

everybody - salute Ben with the middle finger and repeat after me...

FUCK YOU BERNANKE AND ALL YOU BITCH ASS BANKER MOTHER FUCKERS...

WE WILL NOT BE DEFEATED....

 

now go out this morning and add to the mother fucking stack BITCHEZ...................

Fri, 04/12/2013 - 11:13 | 3440979 dick cheneys ghost
dick cheneys ghost's picture

Kaiser, yours is the voice of reason...............

Fri, 04/12/2013 - 11:29 | 3441103 Kaiser Sousa
Kaiser Sousa's picture

Hey DC - 

just rallying the troops man...

if ya'll didnt know there's a war goin on it should be crystal clear now.....

Fri, 04/12/2013 - 11:13 | 3440983 Parabox
Parabox's picture

Just did.

Fri, 04/12/2013 - 11:24 | 3441024 Paper CRUSHer
Paper CRUSHer's picture

PAPER CRUSH-------------->GOLD RUSH.

HA!.....YEN/GOLD down +5%.....or another way to put it.....YEN RALLIES 5% AGAINST GOLD........YOU WISH, YA KIDDIN' YA DUMBFUCK PUNK ASS BITCHEZ.

Fri, 04/12/2013 - 11:45 | 3441171 GVB
GVB's picture

FUCK YOU BERNANKE AND ALL OF YR BITCH ASS BANKSTERS. WE WILL NOT BE DEFEATED!

 

 

Fri, 04/12/2013 - 11:06 | 3440933 McMolotov
McMolotov's picture

Just wondering...

Since the rumor was that Cyprus would have to give up some of its gold as a result of the bail-in fiasco, would it be possible for TPTB to drive the price of gold down in order to increase the physical amount of gold they'd take from countries? In other words, if the price drops, won't they end up taking MOAR from Slovenia, etc.?

Fri, 04/12/2013 - 11:30 | 3441106 WillyGroper
WillyGroper's picture

I seem to recall an interview w/Jim Rogers where he said he's not selling his gold but, "If gold should get to $1200, I hope I buy more". 

Suppose this is the target of TPTB? 

Fri, 04/12/2013 - 12:51 | 3441602 Croesus
Croesus's picture

TO THE F.U. BERNANKE CROWD:

Don't hate the Bernanke. Try to see it from a different angle. Every time the Gold price gets hammered, there are increasing numbers of people and institutions who are stacking the physical stuff.

The point: The more they nail the price, the faster the physical supply disappears.

From one perspective, the Bernank is helping the cause.

All of this nonsense, is just "redistributing the wealth".

 

 

 

 

Fri, 04/12/2013 - 14:31 | 3442067 DoChenRollingBearing
DoChenRollingBearing's picture

Good observation , + another 1

Fri, 04/12/2013 - 11:11 | 3440943 Boston
Boston's picture

As China, Russia, and various CBs quietly BTMFD.

China, Russia......and me!

 

Orders filled:

1500

26.50

 

Next orders entered:

1450

24.00

 

Fri, 04/12/2013 - 11:40 | 3441142 YC2
YC2's picture

Sounds like you will have some nice 1s and 0s there.

Fri, 04/12/2013 - 11:13 | 3440993 Stuck on Zero
Stuck on Zero's picture

Dang.  I bought last weeks dip. And the week before. And the week before that.

 

Fri, 04/12/2013 - 11:36 | 3441127 EINSILVERGUY
EINSILVERGUY's picture

I bought 30 ounces Au yesterday. Makes sense it goes down today.  Oh well might as well buy some more today

Spreads are widening on the physical.  ASE are $4 over spot at Gainsville.  AGE are at 5% premium.  I expect these will wien if we see any further drops

Fri, 04/12/2013 - 14:34 | 3442076 DoChenRollingBearing
DoChenRollingBearing's picture

Happens to me all the time.  I buy, the price goes down.

It's OK though.  I have more ounces "than the next guy".

Fri, 04/12/2013 - 18:13 | 3443113 Professorlocknload
Professorlocknload's picture

Price is irrelevant, quantity is what counts.

Fri, 04/12/2013 - 11:43 | 3441003 Anasteus
Anasteus's picture

"As China, Russia, and various CBs quietly BTMFD."

So should we; follow the giant footsteps. The New Eldorado has just been officially launched. Whoopeeee!

This is by far the biggest scam the FED has ever got involved in. The physical supply is drying up at rapid pace but they pretend exact opposite.

Good luck with the figure skating on thin ice! Aaand... some more magnificent and high jumps, please!

Fri, 04/12/2013 - 11:29 | 3441093 Bangin7GramRocks
Bangin7GramRocks's picture

That's why it's obviously only an apocalypse trade. All of these countries buying and the price continues to go down! It is easily manipulated and price controlled. It only makes sense if you expect an eventual economic collapse, but I have a sneaky suspicion that many people here trade it like bitcoins from a Gateway PC in their split-level basement.

Fri, 04/12/2013 - 11:51 | 3441181 Awakened Sheeple
Awakened Sheeple's picture

BTFD

Fri, 04/12/2013 - 11:49 | 3441186 NewAmericaNow
NewAmericaNow's picture

This was expected. The gold and silver being sold is only paper GLD and SLV. People know promises of the real thing are just that promises. Many will find the Gld and Slv they thought they owned DOES NOT EXIST. Physical is always the way to go. Let the idiots panic.

Fri, 04/12/2013 - 13:23 | 3441763 j0nx
j0nx's picture

Where is best place to buy silver coins online? No fucking way I'm paying $6 over spot at APMEX for eagles.

Fri, 04/12/2013 - 15:10 | 3442244 Swarmee
Swarmee's picture

Www.comparesilverprices.com has an excellent matrix of dealers and costs for various products, also shows premium to spot, updated continuously. Note that it does not include shipping, nor cost variations based on check vs credit vs wire but these will all vary per individual order anyway. Realize that if you are not buying large lots to meet minimum wire transfer amounts then you will have to wait 10 business days for checks to clear at most places.

Your LCS is always a great place to start, but I realize not everyone is lucky enough to have one nearby, and the premiums are not always competitive. But I often try to make some purchases locally regardless to support local small business. I consider the extra premium worth it for the conversation as many of these guys have their fingers on the pulse of the market and will share info with regulars. They are also your best bet if you ever need to buy or sell in a hurry, better to have that relationship established well ahead of needing it. Happy shopping!

Fri, 04/12/2013 - 15:26 | 3442314 DosZap
DosZap's picture

As China, Russia, and various CBs quietly BTMFD.

Don't forget the #1 consumers in the world,India is dancing to "Burn baby Burn".

Fri, 04/12/2013 - 11:00 | 3440813 RSBriggs
RSBriggs's picture

OMG.  It's a BUBBLE.   BitGOLD !!!!!!  PANIC!!

Funny thing though - neither the quantity of my PMs nor the number of BitCoins in my acount have changed.   My PMs and my USB key still all weigh the same...

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