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First Bitcoin, Now Gold: All Alternative Currencies Must Be Crushed
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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Stop it !! The US Gold Reserves have not been audited in 30 years. China and India increase their purchases of Gold. Chian becomes largest Gold producer. Price of Gold accelerates to $1900 an oz. Germany demands return of its gold which US says will take 7 years. Venezula demand return of their gold. Ecuador and the Netherlands demand return of their gold. Cyprus is forced to sell their gold to payoff debt. So...if all these countries want their gold back....or are being forced to sell their gold...the question is "How can the price decline?"
Answer: The entire gold grid is manipulated by the US to protect the reserve currency...the US Dollar. US =Crush the competition and at the same time accumulate as much gold as possible. Use the acccumulated gold to pacify Germany, and the State of Texas. Sooner or later, as soon as China gets some balls, the price will skyrocket.
agreed. how high do you think gold will go?
I agree there Bearing,
Wouldn't seem prudent to ever sell gold until everything else is gone.
And look at that 10 year bond yield today. Nice day for a swap from securities to money, to lighten up the IRA a tad.
What was Goldmon Sux's target on Gold?
Look at one of my last posts... I posed that it's a bad time to buy gold, and I gave the reason why:
People are selling their paper gold en masse and it will go on for a bit.
... at least this is what my banker buddies here in Zurich are telling me.
Deflation is coming, says the gold canary. There's probably a secure floor on gold prices, but stocks are gonna take a clean hit and real estate is gonna get clobbered.
The banks will use their creature, the Fed, to protect their asset values.
The CBs want inflation and they will destroy the world to achieve the goal.
that gold chart is definitely displaying a classical ‘Bactrian Caravan’ in a downward or negative precession.
OK, I lost quite a bit of money in the past two years with any gold related investment. Feeling stupid. Must delay retirment. Wife is pissed. Why would I ride somethin down for so long??? Technicians warned me months ago. But I dutifully read ZH. Read all the news all the time. Listen to gurus whom I greatly respect such as Faber and K Bass. Applied logic. Still lost money. I must be a bad investor. My friend is making it big in some speculation that makes no income but someday might. That makes me feel worse. ...... those thoughts are the tough emotional side of investing. I would feel worse if I sold and later my original thesis played out. Maybe going to sleep for a couple of years is the correct action? That's what I'm going to do, but I dread the losses that will grow if this trend persists. I hate investing.
I traded in quite a bit of fiat toilet paper in the past two years to get real money. Gold.
There fixed it for you.
It's like the lady who told David Galland "I'd love to buy gold, but I can't afford it." That's like saying, "I can't afford to change this $100 bill for five $20 bills." When the $100 bill is on fire.
p.s. Retirement is a dumb idea, and highly overrated. Most men retire, spend a few years turning into jello, and then die.
I've retired of ill health, aged 42, but I still write plays and program software. Hate the idea of a retirement in which you 'relax on a beach', that is kind of living death.
just pick a better beach!
Laying in the sun...bah humbug.
It's a bear trap.
Bad news for weak hands, and excellent buying opportunity for central banks and their closest associates before they allow the physical price to determine the market ... when it suits them.
Also good news for gold and silver bargain hunters.
Nearly your last chance to trade your fiat paper for real money before your fiat paper begins its big bust.
Thanks for the nice prices I hope it goes lower so I can back up a truck.
PAPER MARKETS GO TO HELL.
http://www.youtube.com/watch?v=ByT0FErPgfQ
Somebody has to identify and clearly say who are the people that are causing "once again" a disaster that is leading this world to misery and confrontation.
I have an idea and I hope the police dont come inmediately to my home to detain me.
I have a feeling the guys in Wall Street are all Ethiopians or Somalians because they have done it in the past many times in history and somehow they have organized it so that you cant point your finger at them...
And it is a fact that there is "one" origin to this situation, otherwise how do you explain that such far away and different countries such as New Zeland and Spain have the same problem???
It is those people in Wall Street.....
To quote a famous Biblical passage:
Can an Ethiopian change his skin or a leopard its spots? Neither can [they] do good who are accustomed to doing evil.
TPTB are up to no good as usual, since they are never up to good, and only evil. They have a plan and they are executing it, no matter who gets run over in the process. They would just as soon elimination the lower 2/3 of the world's population anyway so whatever suffering is forced upon the masses in the short term is inconsequential. They will collect as much real money as they can, exchanging paper for physical by fleecing the sheeples, and then they will start a war.
The value of gold, related to other commodities is somewhere between $600 and $850 (the cost of a good suit).
It is clear that the bankers raised the price of gold well in excess of its equalized value in order to capitalize on the FEAR TRADE. The fear trade is only successful if and when the bankers lose control of the fiat currencies. I see evidence of massive manipulation, but no evidence of a lack of control ... and yet, the feartraders are gold bugs.
your taste in suits runs closer to 'mens wharehouse'. the parallel was always a good "hand sewn" suit ...think 3500- 4500 $
Looks like the Polish authorities shut down Bitcoin24.
"The Polish authority closed your bank account in Poland"
https://bitcoin-24.com/more
I am Satoshi. Soy! The seductive electrons of Bitcoin
Recuerdo... bitcoin is like a newbie Luchador stomping around the ring, el cuadrilatero, right before he's pile driven and wimpering like a puta barata.
Uno mas ves... I'm sooo mysterious because of the mask that covers my face. Te sabes... I have a bullion bank to back this bitcoin too, suckers! Huh? don't think that I wont fractionalize your bullion pendejos.
Aye aye aye, never a better time to sell my bitcoins and buy Au at the bottom of the V (we need more margin, expect the margin reqs to be lowered soon to pull you into paper, and get you in the triangle) Timing is everything, so if you want to remain an estudiante, and not be part of my upcoming culling, drop to your knees y wash me feet with Mescal... ahora! Use this p2p today for some serious PM slam down feeding while you can.
Escucha, a hot chica ring lady told me we got 20 mil or so digital luchabitcoin out there, y tambien, about 800 million people (that is, after I have the stadium collapse to cull the audience from its 6.5 bil). Take out su calculators and start number crunching. Then you'll see that ahora, today, now, you need swim quickly out of the 'current' of alternative currencies, digital currencies, and counterfeit soul currencies!
Viva El Luchador
www.askchumba.com
You may be mysterious but it's clear that you're not a fluent Spanish speaker. It would be correct to write, "una vez mas" but not "uno mas ves". And "te sabes" is reflexive whereas you probably mean "tu sabes". So, like, drop the bs.
Someone please explain to me again how a "bad" day in fraudulent paper prices constitutes a bad day for me getting to accumulate more phyzz for my stacks at a discount in exchange for my worthless fiat FRN's? hmmm...I guess I just don't "get it". ;)
Only a bad day if you expect to need to convert some to fiat in the near future.
A solely government/politician defined store of wealth that is doomed to die and then be reborn as another piece of paper similarly defined---if that is your cup of tea, by all means gulp it down and suffer the consequences.
On the other hand, PMs are not so defined. PMs can be knocked about by these same corrupt pols and banksters, but they can't kill it, like they will the Dollar, the Euro, the Yen, the Yuan, etc.
The U.S. Dollar will Die, just like all of the previous fiat currencies of prominence.
PMs will live on.
Since bloomberg closed the COMXGOLD:IND can Tyler or anyone with bloomberg pro please look it up. It might be interesting to see what the hell is going on there.
Whadda ya do when gold dumps nearly $100.00?
Simple:
http://www.youtube.com/watch?v=S06nIz4scvI
I like to buy physical just out of spite. It feels GREAT...
Advice please:
I can't get my head round gold. You buy gold when there is uncertainty. Either the stock market is volatile or currency is being debased.
So based in this, how do you time your translation from currency to gold and back.
The question I can't reconcile is:
When do you time converting from gold back to stock/currency? Time it wrong and either whole has fallen or once converted back to paper it keeps falling.
Finally and what I find most difficult is actually buying and selling gold (coins, krugerrands or UK sovereigns). Where is the best place to buy because you get skimmed theee ways. 2-3% for purchasing, 2-3% for selling plus the dealers don't match the spot price. You're getting ripped all over.
How's that any different than all the damn commisons on purchasign/selling financial asetts?
I'm buying and giving to my heirs.
How is the avail og physical? At this time i can confirm that the Gold To Go ATM which dispenses gold at the Golden Nugget casino in Vegas is turned off. Pushed the call button and nobody came.
Well, I've liquidated all my assets. Don't own a house or any real estate. I'm a renter. Both cars are free and clear. I've got some gold and silver. My cash is making 12%+ in first trust deeds. I've almost got all my debt paid off. Guess I'm in the best shape I can be in for whichever way this nightmare goes (INF vs DEF).
I tend to think we'll go the way of Japan... holding off deflation, and existing in a slow to no growth phase for a long time (we may never see 3% growth again in our lifetimes). Low wages, high unemployment and zero velocity won't allow INF. And the American public are too brain dead, distracted and out of touch to lose confidence in the USD, and thus raise the velocity of money.
All this debt and intervention has made us a very volatile economy that is crisis prone. We'll just keep getting battered about by one crisis after the next, just like a dazed prize fighter, until one of those punches sends us down for the count.
Today's slam just cost 'em another 500 ounces of physical, into my gun safe for however long it takes until their cyber-FeRNs vaporize. If they're leveraged 100 to 1, that's another 50,000 ounces not backed by nuthin' no more.
My (major) bullion dealer is busy as $#!+, all lines staffed, phones ringin' with nobody to answer, sold out of 90% junque, eagles, maples, phils and more. I expect price will get clocked some more, but good luck finding real silver, like in 2008.
LOL at PK's blog post from yesterday. Lust for Gold.
The fascists are pissed that people refuse to play the banksta's game in a rigged casino.
Time to buy again, then.
Ok, I bought 180,000 dollars worth of gold in September 2011 because I read this page and everybody was pumping the shit. I got 100 1 ounce coins. Although they do fit quite nicely in a case about the size of half a carton of cigarettes - (average house price is 180,000 dollars), I have lost over 30,000 dollars now on this little shit. Should I just sell this garbage now since it is tanking or hold? I already know what the answer I'll get here is but feel free to comment. I am confused I bought the equivalent of a house of shiny coins that fits in a little bag.
Tom Green Swedish
Tom
First mistake was buying it all at once.Secondly, do not fear,HOLD your Au.
Go to JSMINESET.COM
And read what the master say's.You LOSE noting till you sell.And this man has had close to 50-55yrs in the business.Also, read Kingworldnews.com( see what the billionaire hedge fund mgrs have to say).
Look at the world around all of us, it is a burning pile of dung.The FIRST thing the PTB want to do is FLEECE you of your physical AU.It will still go to $5,000.00++ an ounce, you just have have strong hands.
You are way up in the upper one percentile of gold holders in the world .... are you in such exclusive company with ANYTHING else you have ever owned ?
You could have bought a house for 180,000 and have it be worth 110,000. You think housing is going to appreciate before gold?
You think the stock market reflects reality?
Understand, this ride is going into a deep dark tunnel. Nothing is going to be easy street for possibly a long while. If you doubt this, stick your money in stocks, or stash 1800 100 dollar bills under your mattress. Nobody put a gun to your head. If you acted on gold for a quick buck, your motive was all wrong.
My counsel is, Relax, enjoy the ride, and don't do anything stupid when you're in the tunnel. Your investment will never be worth $0.
if gld is headed down , might as well buy some puts and make a few bucks in the short run. did that with today the may, 13 140 puts. my only problem was selling too quickly.
Cara de Chimba: Pussy face ! Cara de Chimbo: Dick face ! Beraco: Fool .... Colombian slang !
Baccan-source to fulfill addiction-Columbian slang
If silver rebounds as quickly and as far as bitcoin has from the low of the last couple days ($57 -> over $100) then on Monday silver will be $40 oz.
There is no conspiracy. Gold is still at a premium by historical standards, 300 to 1500 is a huge rise far out pacing inflation. it has room to go down. bitcoin is a speculative vehicle.
Your wall street want you keep equity and bonds only. Welcome to the new era of wallcracy.