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

Submitted by Tyler Durden on 04/12/2013 10:53 -0400

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 - 11:04 | 3440856 francis_sawyer

I thought you bitcoiners were just bragging about how you topticked bitcoin the other day and skimmed to buy gold bullion... [Not YOU of course ~ only those 'other' weak pussies]...

~~~

More importantly... Why does a bitcoiner use a BAG OF PHYSICAL COINS ~ with a '$' printed on it ~ as an avatar]?

Fri, 04/12/2013 - 11:04 | 3440899 RSBriggs

I bought 20 last month @ $20 and sold 2 this month at $200. It's all free to me - doesn't matter to me if it goes up to $1,000 or down to $20... Just like my PMs....

Fri, 04/12/2013 - 11:13 | 3440920 francis_sawyer

So... That makes you a 'speculator', right?...

~~~

Furthermore ~ What 'currency' do you hold your $360 'profit' in at the moment, &... MOST IMPORTANTLY... Did you pay your taxes on your profits?... I certainly HOPE SO... & as soon as you start answering that first question with... 'I sold to buy gold & didn't convert it to fiat... Oh no never, NOT ME'... I'm thinking that the IRS doesn't accept your capital gains taxes in gold or bitcoins...

Fri, 04/12/2013 - 11:14 | 3440999 toys for tits

Or a cartoon bank robber, with the money bag avatar.

Fri, 04/12/2013 - 11:32 | 3441030 francis_sawyer

Well ~ As for me...

~~~

I'm just sitting here doing nothing...

I hope to be continually entertained, over the next [x amount of time], by GLORIOUS success stories from all the bitcoiners who made 'lavish' profits from bitcoin by buying & selling... All the while NEVER converting back to fiat...

I'm sure the IRS is trolling these sites as well... I'm sure they're just sitting there saying 'Aww Shucks ~ they're just a bunch of kids'... They're not interested in your capital gains... Moreover ~ for you who vow to NEVER convert those profits into fiat [to PAY your capital gains to the IRS]... I'm sure the IRS is setting up bitcoin & gold bullion accounts as we speak... [for your convenience, of course]...

Please, don't stop now... We want to hear ALL your stories... Published for ALL ETERNITY [as indestructable & perpetual as your bitcoins], for all to see, on an internet blog...

~~~

Speaking of IRS...

I'm calling 'bullshit' on all this hand wringing on today's smackdown having anything to do with Blythe Masters... or 'Shalom' & Company

Monday is April 15th... TAX day... What if you need to pay your taxes... TODAY... What are you going to liquidate to raise cash???... A 'paper' gold or silver position, which has done ZILCHO in the past 2 years [& won't cost you a capital gains hit to liquidate] seems fairly obvious to me...

Fri, 04/12/2013 - 12:48 | 3441586 HulkHogan

And finally there's the reason for the sell off. The Tylers claim it's because the Japanese are scared and ZHers think it's the boogey man. But you're right, sell your worst performer and pay your taxes.

Fri, 04/12/2013 - 13:00 | 3441623 francis_sawyer

Thanks Hulk... For real ~ How hard can it fucking be?...

~~~

I mean... Fuck Me... Let's say I was holding a paper SLV position [anytime... I mean fucking ANYTIME that I bought between now and May 2011, & I owed taxes on Monday]...

It doesn't take a dipshit to figure out what I'd be liquidating if I needed to raise cash to pay my taxes... [plus maybe notch an 'offset loss' to my balance sheet]...

~~~

Probably GEORGE MOTHERFUCKING UNDEAD SOROS himself... Timing this shit... So that he can accumulate bullion over the weekend while everyone is watching Tiger Woods...

Fri, 04/12/2013 - 15:20 | 3442288 Swarmee

According to that logic we should see many other poor performing stocks and commodities being sold down by similar amounts, no? Why only sell one poor performing paper holding but not another? While I haven't combed the market, a quick glance at indices doesn't appear to support this "selling losers to pay taxes" meme. This appears very concentrated in the metals.

There are a number of TA and Fib folks I follow on various message boards who have been predicting a sharp selloff in this timeframe going back to February. While no one is ever perfect it has been very good guidance thus far. Charts appear to indicate selloff will extend into next week then sharply reverse to the upside. If physical stocks are as depleted as many suspect, and big players are BTFD then at some point it should reflect in at least the physical price as supply continues to be squeezed here, no?

I continue to enjoy physical on sale, quicker folks with higher risk tolerance can try to time the paper. Now if only local phyzz would get as cheap as the paper says, seems harder and harder to find low premium supply locally. Perhaps weak hands will provide some pre '64 bargains for us this weekend.

Fri, 04/12/2013 - 16:12 | 3442519 francis_sawyer

Indulge us all with your technical chart wizardry as well as you're retrofitted predictions from the experts from month's ago...

~~~

While your at it... Dazzle us with your stories about how you waited, in the coin shop today, & waited... WAITED... WAITED until the EXACT MOMENT that spot [WTFever], bottomed here & you, like a kung-fu artist, whipped your fiat across the counter to give your BUY order & LOCK IN your transaction...

Goddammit this place is non-stop comedy...

Fri, 04/12/2013 - 18:31 | 3443172 Professorlocknload

Looked up a mess of April 15ths here. Couldn't find a decisive pattern.

http://www.kitco.com/scripts/hist_charts/daily_graphs.cgi

My take? BIG players throughout Euroland and Japanland etc. are carrying on about needing to generate cash, or default.

Fri, 04/12/2013 - 11:04 | 3440911 Fire Cat

I keep envisioning Ben in a toga playing the lyre while Washington burns...

Fri, 04/12/2013 - 10:56 | 3440814 e m m

From now on, you should make charts of how the spread between SPX and gold tracks the price of bitcoin.

Fri, 04/12/2013 - 10:55 | 3440815 pstpetrov

I bought 8 coins yesterday. Will keep buying.

I've experienced first hand what hyperinflation is in Bulgaria in the 90's. No fun.

Fri, 04/12/2013 - 10:57 | 3440837 Dr. Engali

I bought 10 eagles...and I will continue to add on this weakness.

Fri, 04/12/2013 - 11:02 | 3440888 samcontrol

wow 10 silver ealgles, good for you Dr.
I just bought. 300k in three silver miners.

Fri, 04/12/2013 - 11:06 | 3440916 Dr. Engali

Gold.Eagles...gold. Good luck with those miners when they get nationalized.

Fri, 04/12/2013 - 11:23 | 3441053 AGuy

Where did you buy and what price over spot (it what was the commission cost per coin\oz)

Thanks,

Fri, 04/12/2013 - 11:52 | 3441203 samcontrol

i fail to see how your 15k investment is better than my 300k bet.
In a year these canadian companies wil NOT be nationalized.
I am getting your entire investment just in dividends in a year and half, if i hold ...of course....I am looking for a quick 10%,

After good paper trades i buy condos and not bitcoin.
Good luck Doctor.

Fri, 04/12/2013 - 11:58 | 3441246 The Abstraction...

What happens if American ends up owing Canada, and confiscates shares held by Americans in Canadian companies? Ditto for China and so.

Fri, 04/12/2013 - 12:23 | 3441426 Dr. Engali

You seem to think that I only have 15k in gold. You would be sorely mistaken.

Fri, 04/12/2013 - 15:24 | 3442302 willwork4food

Damn. I knew my MD was making too much.

Fri, 04/12/2013 - 13:00 | 3441642 Croesus

@ samcontrol:

In my opinion, nobody should look down on anyone they share space in the same boat with. Whether you're a big player, or someone with limited means, you're still on the same team.

If someone buys $10/face worth of junk dimes, that's still better than nothing.

I'm not impressed with your $300K stock buy. It's still paper. And that, I DO look down on, since your paper shares can be borrowed to short the market, since I can pretty much guarantee you haven't taken delivery of your shares.

In closing, stop talking like a douchebag.

Fri, 04/12/2013 - 14:30 | 3442064 samcontrol

you are always roght on here. just like a girlfriend with her period.

Doc , i don,t care about your gold just like you don,t care about my new paper silver miners.

sure Us will invade Canada within a year.....lol

@ Croesus or is it Crixus? Your post is contradictory ...look down all you want ..... since it's fantasy laland here. In real life , you are the douche and looked down on.

Gl with your coins.

Fri, 04/12/2013 - 14:57 | 3442194 Urban Redneck

Hope your miners actually mine in Canada, some of them mine elsewhere, and elsewhere there are people working on contingency plans right now...

Fri, 04/12/2013 - 14:32 | 3442065 samcontrol

you are always roght on here. just like a girlfriend with her period.

Doc , i don,t care about your gold just like you don,t care about my new paper silver miners.

sure Us will invade Canada within a year.....lol

@ Croesus or is it Crixus? Your post is contradictory ...look down all you want ..... since it's fantasy laland here. In real life , you are the douche and looked down on.

Gl with your coins.

Fri, 04/12/2013 - 15:22 | 3442293 Croesus

@ Samcontrol:

How is my post contradictory? You buy 300K worth of shares....but don't actually own your shares.....

Read up on the DTCC and Cede and Company. Possession is 9/10's of the law, dumbass.

Another so-called expert, full of opinions, long on bullshit, and short on facts.

Fri, 04/12/2013 - 12:23 | 3441433 lakecity55

Skeeter: "You didn't mine that. I am taking over all mines in the name of the Rev-- uh, uh, The People."

Fri, 04/12/2013 - 11:08 | 3440951 lunaticfringe

There is always one anonymous person somwhere- willing to share that they are a bigger dick than previously thought. You Sam, are today's winner!

Fri, 04/12/2013 - 11:18 | 3441026 hapless

"self tought" speller, too.

Fri, 04/12/2013 - 11:39 | 3441145 francis_sawyer

It's true... This man has no penis...

Fri, 04/12/2013 - 12:10 | 3441339 darteaus

Darn Sam, my wife usually thinks it's me.

Fri, 04/12/2013 - 12:08 | 3441332 Meat Hammer

I bought 300K in miners. Derp derp.

You're probably the douchebag that brags about your dough during dinner at a nice restaurant and then gets alligator arms when the check comes.

Fri, 04/12/2013 - 11:10 | 3440934 saints51

Doc, its time for a monster box purchase.

Edit: Thought it was silver. Even though nice score. Got a few rolls of silver eagles. Debating on what to get in gold.

Fri, 04/12/2013 - 11:13 | 3440980 Dr. Engali

I usually stagger my gold and silver purchases depending on how much extra fiat I have to convert into money.

Fri, 04/12/2013 - 11:26 | 3441068 saints51

I tend to get stuck on a set amount of weight and then I get attached to certain brands. Lately it has been sunshine mint silver 10 oz bars. Today i finally switched back to 20 oz rolls of silver eagles. Need to see what i like in the yellow stuff. might grab what you did but not as much. I need to keep a reserve when it drops lower.

Fri, 04/12/2013 - 13:25 | 3441773 Kobe Beef

Silver:gold ratio is over 50:1. If you've already got metals stacked & just want more, silver is the better buy now. Platinum:gold ratio is under 1:1. Platinum is also a better buy now for the long term holder.

Now I love gold, but I love a good deal even more.

Fri, 04/12/2013 - 11:00 | 3440862 LawsofPhysics

Exactly!!! From my post below--> Wake me when the price get's under $300 and ounce (current dollar cost average on my gold holdings), some of us have always wanted to start our own bullion bank. Fine by me, this farming shit is hard work.

Fri, 04/12/2013 - 11:41 | 3441150 francis_sawyer

Da Da DaDa Da ~ The CHORES! [lol]

Fri, 04/12/2013 - 11:01 | 3440883 mayhem_korner

+1 I have never interrupted my pattern of buying. But at these prices maybe I'll splurge and grab a sleeve of Krugs.

THEY are panicked. I am not.

Fri, 04/12/2013 - 11:09 | 3440953 DoChenRollingBearing

+ 1 to you, yes. Slow and steady buying for decades has worked very well for me. Although I do admit to having bought MORE in the past five years. Buying gold at a discount is OK with me. I will keep buying irregardless.

Fri, 04/12/2013 - 11:18 | 3441028 walküre

reset is coming by 2020

sovereigns are already failing but perception is that they're still working

cheques will stop coming in the mail soon

Fri, 04/12/2013 - 11:58 | 3441241 kekekekekekeke

make a post!!!

Fri, 04/12/2013 - 10:57 | 3440817 GRsilverking

great technicals timing for NYT bearish news. Azzholes!

Fri, 04/12/2013 - 10:57 | 3440820 dick cheneys ghost

My invisable coins are getting smaller

Fri, 04/12/2013 - 10:56 | 3440821 agent default

Anybody have volume data? This looks like a major takedown.

Fri, 04/12/2013 - 11:02 | 3440876 swissaustrian

Yes total washout. The technical damage for is so huge that it might go even lower, though.

Fri, 04/12/2013 - 12:08 | 3441321 Mine Is Bigger

Do you see any signicance to the timing (date)? Or is it one of the wripple effects from the BOJ's mega easing?

Fri, 04/12/2013 - 10:57 | 3440823 yirgacheff

That's the generosity of our central bankers: today, we are giving some nice discounts on PM. Living now the office to do some physical shopping

Fri, 04/12/2013 - 10:57 | 3440824 swissaustrian

Silver is still holding 2012 lows contrary to gold

Fri, 04/12/2013 - 11:13 | 3440984 malikai

Problem is, gold has been leading silver all the way down.

Fri, 04/12/2013 - 11:20 | 3441037 swissaustrian

Yes, sure. But I would have expected it to go down much more. At least there is a bid in the 26 area, probably commercials covering shorts.

Fri, 04/12/2013 - 10:56 | 3440826 Oldwood

Where do I get in line?

Fri, 04/12/2013 - 10:56 | 3440827 mdtrader

Everything rolling over, gold, oil, stocks. Is there a massive deflationary event coming???

Fri, 04/12/2013 - 11:07 | 3440926 teolawki

Margin calls?

Fri, 04/12/2013 - 11:13 | 3440961 NoDebt

In a crowded movie theatre they yell "fire". In a crowded market some big player leans over and whispers "maybe we should lighten up on this a little".

Deflationary event's been trying to happen for 5 years now. Just the central banks pushing back with all their might.

Fri, 04/12/2013 - 11:40 | 3441151 TheSilverJournal

The world monetary system is a fiat ponzi based on FRNs and ponzies must expand in order to keep from imploding. In 2008, the point of implosion was basically hit. So with 5 years of massive expansion of the ponzi since then, the point of implosion will be higher than where it was in 2008. So the point of implosion is somewhere between a bit higher than 2008 and a small deflationary spell.

But now, it's also a problem with rates. Rates must also be kept low to keep the monetary ponzi together so central banks and the government can siphon wealth out of the economy through the printing press. Higher prices leads to driving real yields into even further negative real territory, therefore making bonds an even worse investment and puts more pressure on investors to exit bonds, therefore driving the need to print even more to buy enough bonds to keep yields low, and that addition printing drives prices even higher, therefore driving yields into even more negative real territory, putting on even more pressure to exit bonds and therefore driving the need to print even more to keep yields low.

Print, print, print, all day long, print, print, print, while I sing this song. $45B / month or $1.5B every single day is printed to buy worthless MBS from banks at face value in order to keep the bank capitalized. Where does that money get its value from?...stolen right from your bank account. $40B every month printed to buy Treasuries. Where does that money get its value from?...stolen right from your bank account and redistributed by the omnipotent and grand central planners at the federal government.

Normally, in order from someone to borrow, someone else has to save. 4% rate to buy that home and who saved in order for the homebuyer to borrow?...nobody. Centrally planned rates fools the market into thinking there's savings when there's not, destroying capital in the process by creating malinvestments.

Fri, 04/12/2013 - 11:33 | 3441001 El Viejo

Yeah, I essentially asked the same question above: http://www.zerohedge.com/news/2013-04-12/first-bitcoin-now-gold-all-alterantive-currencies-must-be-crushed#comment-3440949

We must be seeing the same thing and yet it's not the same as 2001 or 2008. Could be a pullback before another takeoff.

See: http://stocktwits.com/message/12465036 (for 2001 & 2008 - You can get similar graph from FRED)

Fri, 04/12/2013 - 10:56 | 3440828 Jonas Parker

Looks like the banksters are really running scared...

Fri, 04/12/2013 - 10:58 | 3440831 Richard Head

Provident web site is seizing up.

Fri, 04/12/2013 - 11:00 | 3440847 Debtonation

Kitco 24 Hour Spot is too.

Fri, 04/12/2013 - 12:38 | 3441517 akak

The ghost of Jon Nadler getting revenge for being fired at last.

Polterheist.

Fri, 04/12/2013 - 12:47 | 3441568 DoChenRollingBearing

+ 1

LOL!

Fri, 04/12/2013 - 11:14 | 3440994 saints51

Slow as fuck. Guess I will order again from Gainesville.

Got this email from monarch precious metals with some coupon codes if anyone is interested.

COUPON SALE!
http://www.MonarchMint.com

$2.00 off any order (no minimum purchase required!) with coupon code: Spring2

$30.00 off your purchase of $1,575.00 or more with coupon code: Spring30

$60.00 off your purchase of $3,275.00 or more with coupon code: Spring60

Fri, 04/12/2013 - 12:19 | 3441393 lakecity55

F, yeah, Silvertowne, too.

Fri, 04/12/2013 - 10:58 | 3440833 Pimp Juice

I just weighed my gold eagles and they aren't getting any lighter..........

Fri, 04/12/2013 - 11:10 | 3440950 darteaus

Need help?

Fri, 04/12/2013 - 10:57 | 3440836 Pseudo Anonym

how about paper gold entered bear market instead of

Gold prices just entered a bear market.

besides, there appears to be evidence that phyzz is being taken out of various funds. the support for paper is diminishing while insiders are stealing phyzz at these prices

Fri, 04/12/2013 - 10:57 | 3440838 thismarketisrigged

fuck, i was hoping gold would fly since goldman shorted it. fuck u goldman

Fri, 04/12/2013 - 11:04 | 3440912 e_goldstein

Give it time. the muppet masters don't buy when things are expensive and the don't sell things when they are cheap.

Fri, 04/12/2013 - 11:11 | 3440960 DoChenRollingBearing

Indeed, time is on our side.

Fri, 04/12/2013 - 15:25 | 3442310 Svendblaaskaeg

"Indeed, time is on our side"

true that - and weather is not climate

Fri, 04/12/2013 - 10:57 | 3440840 Glass Seagull

Including US dollhairs!

Fri, 04/12/2013 - 10:59 | 3440841 Devils Advocate

Yes...I was wondering same thing how do we get inflation without wage inflation...Won't everything just lead to deflation?

Fri, 04/12/2013 - 11:05 | 3440904 mayhem_korner

Assets deflate - especially leveraged ones. Consumer staples inflate. That's what's been happening and will continue.

Fri, 04/12/2013 - 10:58 | 3440844 Frank N. Beans

this is astonishing

Fri, 04/12/2013 - 10:59 | 3440845 LawsofPhysics

"Crushed?" - Wake me when the price get's under $300 and ounce (current dollar cost average on my gold holdings), some of us have always wanted to start our own bullion bank. Fine by me, this farming shit is hard work.

Fri, 04/12/2013 - 11:01 | 3440868 RSBriggs

Ditto. But isn't it amazing how this sounds just like what the BitCoiners were saying? Wake me up when BitCoins get under 20 and I'll buy some more. Ditto gold at $1200. Ditto Silver at $18....

Fri, 04/12/2013 - 11:03 | 3440900 LawsofPhysics

Yes, but I still haven't figured out how to put those "bits" in the safe next to my lead and brass. Once they get that bug worked out, then I'll take bitcoin seriously. When fraud becomes the status quo, possession becomes the law.

Fri, 04/12/2013 - 11:09 | 3440945 dick cheneys ghost

bitcoins are invisable, no need to hide them...........

Fri, 04/12/2013 - 11:12 | 3440971 LawsofPhysics

Unfortunately, my suppliers don't accept "invisible" shit in exchange for their labor, neither does my plumber, electrician, etc...

Fri, 04/12/2013 - 11:44 | 3441169 francis_sawyer

^^^^^^Hey Briggs

~~~

You never bothered to answer my question, [earlier in this thread], about HOW you intend to pay the IRS for the $360 capital gains 'profit' that you claim to have booked by buying bitcoin at $20 & selling at $200...

Fri, 04/12/2013 - 11:48 | 3441178 LawsofPhysics

Here's my guess Sawyer... First, you tell me how the IRS knows anything about my bitcoin trades to begin with. It wasn't a significant holding (under 10k). More then that is spent in a month just keeping things goping around here. Please... the bitcoiners are unemployed geeks, many who just lost their shirt. These kids really think there aren't bigger players out there who could take positions to move the bitcoin "market". Stupid.

Fri, 04/12/2013 - 11:59 | 3441213 francis_sawyer

@LOP ~ LOL

~~~

Doesn't stop the bullshit though, does it... Hell ~ It's entertaining to me... I mean, consider the IRONY... These 'so called' EXPERTS at INTERNET SECURITY, bragging on a public blog about material CAPITAL GAINS they just conjured... With no thought whatsoever about the TAX ramifications... Here are the other ones [at latest count]

~~~

Don't worry, jeebus is in a worse position than you [because I think he mined some & sold @ $238]

Then, I think there's fonestar who is furiously daytrading like the 'ChannelingStocks.com' dweeb... I'm sure his 'GAINSKEEPER' software is throwing off sparks at the moment...

I gotta give credit, though, to CH1... Who is eerily quiet... He's just probably losing his bitcoins in a boating accident...

UFB

~~~

& again, as mentioned earlier... Until further notice... I'm chalking up todays move as nothing special... April 15th is Monday... If you owe taxes this year, you're not going to liquidate to raise cash to pay your taxes until the last minute... That would be TODAY... You sell your LOSERS... Any 'stawks' you own, NOW are winners [subjecting you to capital gains next year]...

Case closed, have a good day... watch the fucking MASTERS....

Fri, 04/12/2013 - 12:09 | 3441335 Mine Is Bigger

It may just be "divide and conquer" at work?

Fri, 04/12/2013 - 11:00 | 3440848 alien-IQ

It's all fun and games til someone pokes an eye out.

Fri, 04/12/2013 - 11:00 | 3440854 AndrewJackson

It bothers me a little bit that gold/silver are down, however, after the cyprus shenanigans I just view is it as insurance on my wealth. It is exponentially harder to confiscate something (well hidden and spread out) physically then it is for them to just declare "poof its gone". Those ounces I have are for the next generation, viewing them in $ pice is silly. Better to count the height of ones stack.

Fri, 04/12/2013 - 11:01 | 3440864 Gmacks

If it breaks 1500 we are in trouble for the short term. 1525 was a huge support level to break.

Fri, 04/12/2013 - 11:05 | 3440908 alien-IQ

and there it is: 1491.40 low.

Fri, 04/12/2013 - 11:07 | 3440928 mayhem_korner

Trouble? I beg to differ. If it breaks 1500, the lags for physical delivery might just go to months.

Fri, 04/12/2013 - 11:01 | 3440867 Oligarch

Troika wants to buy cheap from the bankrupt eu countries with large reserves.

Fri, 04/12/2013 - 11:02 | 3440894 Jonas Parker

^^^^^^

THIS!

Fri, 04/12/2013 - 11:02 | 3440869 johny2

I think those few guys doing all this selling on behalf of the FED are due for a lunch break, after such a hard working start to the day

Fri, 04/12/2013 - 11:02 | 3440870 Ban KKiller

I am buying. Is it not obvious that the crush is so "someone" can buy? This someone is desparate to buy and NEEDS lower pricing. That someone is....me. Well, the Central Banks are working with me on this too. Har-Har...

Fri, 04/12/2013 - 11:22 | 3441040 Alpha Monkey

Hear, Hear! and Here here!

Fri, 04/12/2013 - 11:00 | 3440872 jbvtme

imagine how relieved are germany and texas

Fri, 04/12/2013 - 15:23 | 3442298 silverserfer

well they havent taken possesion yet...

Fri, 04/12/2013 - 11:01 | 3440874 catacl1sm

Big green candle just came through.

Fri, 04/12/2013 - 11:04 | 3440875 Meat Hammer

Come on! USD/JPY is down, the DOW is down thanks to consumer sentiment, and gold just happens to be down $61 for no reason whatsoever??? They're envisioning all of us digging up our stash and running to the coin shop to get Joobux, while Goldman Sachs has a truck backed up to the back of the coin shop.

Look for more sabre rattling from fat ass. We just gotta have a war to prop this bitch up.

It won't be long now.

Oh, and FUCK YOU BERNANKE!

Fri, 04/12/2013 - 11:26 | 3441069 RebelDevil

One must wonder: Are the big players expecting the end, thus driving EVERYTHING down to buy it up right before the gold/silver/stock/oil/bitcoin explosion?

Fri, 04/12/2013 - 11:27 | 3441070 rubearish10

The reason Gold is getting monkey hammered is becasue global recession is in the midst of evolving in nuclear fashion. PM markets know this. It will stabilize (price unknown) but well before stocks do. By no means is gold down because of Goldman, Cypress, slower QE or economic recovery. Us smart people at ZH know that too!

What this also means is we'll see $5,000 gold when CB's confidence is completely lost in fiat and CB's fail miserably! Over and out!

Fri, 04/12/2013 - 11:01 | 3440878 GrinandBearit

Haven't pulled the trigger yet.

Come on... more, more!

Fri, 04/12/2013 - 11:01 | 3440879 scatterbrains

almost time to re-load for 2800ish... don't jump the gun though, let Benny think he's winning.. looking for 1375ish *fingers crossed*

http://fiatflaws.blogspot.com/

Fri, 04/12/2013 - 11:01 | 3440880 mdtrader

Could the JGB volatility start crushing the carry trades that have funded the markets?

Fri, 04/12/2013 - 11:17 | 3441011 NoDebt

Good catch. You might have something there.

Fri, 04/12/2013 - 11:01 | 3440881 centerline

Capital is mobilizing. The system requires yield. It requires cash flow. It has to find ways out of one place and into another. I view PM's getting crushed as a positive sign that the next leg of this crisis is under way.

Fri, 04/12/2013 - 11:03 | 3440885 soopy

All your alterantives belong to us, now.

Fri, 04/12/2013 - 11:01 | 3440886 Winston Churchill

I'm buying.

Thanks Ben, and all at the PPT.

Flowers,hookers or blow as a tip ?

Signed

the PBOC

Fri, 04/12/2013 - 11:02 | 3440889 bnbdnb

Sell gold, fill margins.

Fri, 04/12/2013 - 13:04 | 3441660 jimmytorpedo

Buy gold, fill cavities.

Fixed it for you.

Fri, 04/12/2013 - 11:03 | 3440890 Cantankerous Canuck

Something's up. Anybody know what? And "BTFD" is NOT helping.

Fri, 04/12/2013 - 11:08 | 3440936 Meat Hammer

Drudge Report - 'Nuclear War Unavoidable'

Fri, 04/12/2013 - 11:42 | 3441154 Jonas Parker

KEWL! Glow-in-the-dark gold!

Fri, 04/12/2013 - 16:21 | 3442605 francis_sawyer

FUCK DRUDGE

~~~

Just another jew trying to profit from BOTH sides of the "PROBLEM~REACTION~SOLUTION~HEGELIAN DIALECTIC"...

Fri, 04/12/2013 - 11:03 | 3440893 JP McManus

"I don't know how much money I have, but I know how many pounds of money I have." - Ron Swanson

Fri, 04/12/2013 - 11:02 | 3440896 T-NUTZ

BLOOD IN THE STREETS BITCHEZ!!!

Fri, 04/12/2013 - 15:07 | 3442237 Urban Redneck

NOT

The move isn't even double digit, in fact it's sub 4%

Currencies have been known to move more than that in a day, and (paper) gold is a commodity.

Fri, 04/12/2013 - 11:04 | 3440898 MFLTucson

The US is a disgraced country finacially so trickery and fraud is all we know left to do.

Fri, 04/12/2013 - 11:05 | 3440902 stateside

Maybe someone got wind of a weekend nuclear strike:

Fri, 04/12/2013 - 11:05 | 3440910 philosophers bone

The problem is that the spot price is going down, but the coin dealers are simply adding to their premium over spot, so we can't really BTFD.

Fri, 04/12/2013 - 11:05 | 3440923 Racer

That's if you can actually buy any gold :( none available

Fri, 04/12/2013 - 11:11 | 3440965 mayhem_korner

The problem is that the spot price is going down, but the coin dealers are simply adding to their premium over spot, so we can't really BTFD.

That means there are two different products - GLD and gold. Coin dealers are dealing the latter.

Fri, 04/12/2013 - 11:04 | 3440913 caimen garou

get it through your fucking head ben, I don't want your fake pumped s&p! ASSHOLE!

Fri, 04/12/2013 - 11:28 | 3441091 RebelDevil

At least penny stocks and BTC are good ways for the pauper to save himself now.

Fri, 04/12/2013 - 11:06 | 3440919 Bicycle Repairman

Prepare for a barter economy. If you do not have swappable skills = SOL.

Fri, 04/12/2013 - 11:17 | 3441016 Falconsixone

Hot women will have plenty of protein opportunities but that wont be transferable protein.

Fri, 04/12/2013 - 16:23 | 3441284 francis_sawyer

That's why I buy 'Mercury Dimes' whenever I can... Bitcoin geeks would never know about that though... After all ~ It's hard to have SEX when you're stuffed in your middle school locker with a wedgie up your ass...

Fri, 04/12/2013 - 11:07 | 3440921 darteaus

Have to show the sheeple that fiat has no alternative.

OBEY.

CONSUME.

Fri, 04/12/2013 - 11:06 | 3440924 FranSix

'Bail-in.' If I had gold held in the COMEX, I would be anxious that my gold wasn't being sold at rock bottom prices.

Fri, 04/12/2013 - 11:07 | 3440927 Van Halen

Gold Just fell below the 1500 floor!

Fri, 04/12/2013 - 11:08 | 3440930 Jonas Parker

Some years ago, Jim Sinclair wrote that wide swings in the PM prices would be the indicators of an economic crash. I'm sorry that I didn't save the article. I'm wondering if what we're seeing is what Sinclair was referring to?

Fri, 04/12/2013 - 11:10 | 3440954 Bastiat

Yeah, he's also just said the bottom was in . . . and don't swings would go both ways -- I'm waiting.

Fri, 04/12/2013 - 13:16 | 3441726 Temporalist

Proving detractors wrong is a powerful tool in the message war.

Fri, 04/12/2013 - 15:24 | 3442309 Bastiat

Yep. Sinclair modified his earlier call of a bottom being in and said China and Russia will decide when the bottom's in. It's never too late to learn humility.

Fri, 04/12/2013 - 17:24 | 3442967 MrSteve

I recall Sinclair saying that prices would move $100s in each direction daily. Harry Browne wrote that you should never ever short gold because when you do, somebody just might set off a nuke and close the banks and markets, etc for a while at which time when the reopen, your account will have been a ground zero target. Today, neither of these guys seems far off from being amazingly far-sighted.

Fri, 04/12/2013 - 11:07 | 3440937 SmallerGovNow2

Spot prices not reflected in physical market.

a "cull" morgan dollar still $30 each and that's just a hair over 3/4 oz. Cull is really just a melt value investment. VG dollars are more than $35 each.

I'd like to BTFD but I don't see one in physical...

Fri, 04/12/2013 - 11:18 | 3441021 greggh99

"I'd like to BTFD but I don't see one in physical..."

You can BFTD all you like. Always could. NWT Mint always has 1 oz rounds and bars for only $1.50 over spot with free shipping. Minimum purchase only 50 oz.

http://bullion.nwtmint.com/silver_panam.php

So this claim that you can't get physical at these "fake paper prices" I always found silly.

Fri, 04/12/2013 - 16:27 | 3442641 KnightTakesKing

NWT Mint does have reasonable markups over spot but there is a LONG delivery delay from order to receipt. I ordered ASEs in late December and January.... They finally shipped the ASEs this week from the December order. That came to a 3 and 1/2 month delay between order and delivery.

Fri, 04/12/2013 - 11:07 | 3440938 SmallerGovNow2

http://www.apmex.com/Category/1640/Bulk_Silver_Dollars_Raw.aspx

Fri, 04/12/2013 - 11:07 | 3440940 unwashedmass

and the chinese and the russians are just sitting back wondering just how stupid the americans will get......how stupid....... and how much they can pull in during this operation. we are so dumb that we deserve what is going to happen to us. we really do.

Fri, 04/12/2013 - 11:33 | 3441113 Al Huxley

The bbs and central banks driving this aren't dumb, they're fucking traitors. They know what they're doing.

Fri, 04/12/2013 - 11:07 | 3440942 alien-IQ

there is another (not surprising) blood bath taking place with gold and silver mining stocks...most of which were already at or near 52 week lows prior to today.

some of these are going to make for a very sweet trade in the not too distant future.

Fri, 04/12/2013 - 11:09 | 3440947 Martin Silenus

That's no dip, looks more like a cliff. BTFC!

Fri, 04/12/2013 - 11:26 | 3441063 Falconsixone

I say it's worth $22,000oz. Well, I say it's woorth $4.00oz ...... Did someone take a bag-o-money or where they shown a picture of them horking a 12yr old, or maybe navy seals are holding pistols to some heads or maybe just do it or your fired?

Fri, 04/12/2013 - 13:07 | 3440958 Dagny Taggart

"Potter's not selling! POTTER IS BUYING!!!!!" (George Bailey)

Fri, 04/12/2013 - 11:11 | 3440959 Falconsixone

How to get people to sell their paper gold because it doesn't exist in the real matrix (Irony: Neither does the money it was bought with unless it was backed by gold) and will not exist again once it's sold. They can ship me a ton or so if it's just taking up space (the metal not the paper)..

Fri, 04/12/2013 - 11:11 | 3440962 orangegeek

Monthly spot gold has more downside - the break below 1525 is significant.

http://bullandbearmash.com/chart/spot-gold-monthly-climbs-marginally-march/

Yen is taking off - only one of "the four" to put any downward pressure on the US Dollar.

Fri, 04/12/2013 - 11:17 | 3441008 IridiumRebel

I work in NYC and receive cash in many transactions. All of the money being placed in my employees hands is on freshly printed money. The stuff is stiff and crisp and looks like it was printed the night before which it pretty much was. They can hammer this stuff down all they want. Velocity will claim many victims as we are still months away from this. MATH. Please keep pushing this shit down. PLEASE. Take your charts and "market" speak and shove it up your ass. it's all bullshit. People won't give two shits about your fucking websites when caves become the fucking housing options for more and more. I am not buying PMs for next weak to trade it out. I do not trade. I stack. I hope you make shitloads of money cuz you're gonna need every. fucking. nickel.

Fri, 04/12/2013 - 11:10 | 3440963 Racer

Probably all that Cypriot gold being dumped onto the market by the banksters to get as low a price as possible so they can steal even more 'insured' depositors money!

Fri, 04/12/2013 - 11:10 | 3440964 Kina

Unless you are wanting to sell gold or silver any time soon who the heck cares what artificial price they are trying to give it.

You are holding gold and silver not for today's world, but as insurance for when the end game arrives as is inevitable, and after.

Reckon these Aussie gold miners are going to be cheaply priced next week..with a strong AUD and lower gold price.

Fri, 04/12/2013 - 11:10 | 3440967 1835jackson

Great time to buy moar!

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

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