• Sprott Money
    05/26/2016 - 05:58
    How many “emergency” “secret” meetings do the central planners around the world need to have before the citizens of the respective countries begin to fully understand and take notice that something...

Gold Bitcoined, Bonds And Yen Soar, Dow Back To Unch (Of Course)

Tyler Durden's picture




 

Gold was Bitcoin'd (or Baumgartner'd) as it suffered its biggest daily drop since LTRO2 on 2/29/12. The JPY rallied over 1% - its biggest rise in 7 weeks. 10Y Treasuries had their best day in 7 weeks. Macro data was absymal. But it was evident that the only thing mattered was a new high close for the Dow - as we noted 10 minutes before the close:

 

 

And thanks to some help from the old ramp standbys - HYG and VIX - they nearly made it (but not quite) as the Dow ended -0.08 points rallying 75 points off the lows on the worst macro data day in months, with the EURUSD ramping just the right amount over 1.31.

 

Not a good day for Commodities... gold...

 

A Great day for bonds...

 

Not a good day for JPY carry traders and the rest of Western Civilzation banking on Abenomics to save the world...

 

But The Dow came through so mom and pop wouldnt even know the stuff had hit the economic fan...

 

The S&P did not have such a sgood day though once Europe closed the algos were in charge and we oscillated around VWAP... and closed prefectly balance at VWAP...

 

But FX land was more active today than it has been a week or two...

 

as Treasuries reversed almost all their losses on the week...

 

Not a fun week for precious metals (or oil for that matter)...

 

 

VIS compressed back to the market (as hedges were lifted) but we note that market breadth was weak - suggesting the macro hedges were lifted as single-name positions were reduced also...

 

Charts: Bloomberg and Capital Context

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Fri, 04/12/2013 - 16:23 | 3442612 fuu
fuu's picture

100.25

Fri, 04/12/2013 - 16:24 | 3442626 malikai
malikai's picture

Isn't it odd how a currency can "collapse" yet still be worth $100?

Fri, 04/12/2013 - 16:28 | 3442667 NotApplicable
NotApplicable's picture

What's a dollar?

Fri, 04/12/2013 - 16:36 | 3442696 AllThatGlitters
AllThatGlitters's picture

Premiums came up a little on silver and dealers are reporting robust sales.  

It won't be long before they run out, or premiums jump through the roof.  

I know, we've heard that all before, but I always stepped in and said "Not True" and pointed to the link below as proof.

This time, premiums have come up. Not a tremendous amount mind you, but as a % due to the lower price, more than most realize.

Gold and Silver still trading for a bit longer. Watch how it finished up here:  http://www.pmbull.com/silver-price/

How many dealers will find technical issues with their sites and have to suspend sales over the weekend, hoping for a big Monday bounce?

 

 

Fri, 04/12/2013 - 16:39 | 3442750 CH1
CH1's picture

Maybe the overlords have something scheduled for this weekend?

Fri, 04/12/2013 - 16:43 | 3442771 Rubicon
Rubicon's picture

One thing is for sure... Sinclair et al have no fucking idea whats going on.

Fri, 04/12/2013 - 16:51 | 3442824 Bastiat
Bastiat's picture

I think he's got the big picture but I think he doesn't understand how the "markets" operate now--the scale of the goonery.

Fri, 04/12/2013 - 17:14 | 3442927 francis_sawyer
francis_sawyer's picture

@CH1 ^^^^^... "Maybe the overlords have something scheduled for this weekend?"

~~~

Not to worry... You've ASSURED everyone... to date... that BITCOINS are impervious to anything & that jews have nothing to do with anything...

OVERLORDS???... How could that ever be possible?...

I'm a 'conjecture' oriented 'INTELLECTUALIST'... Same as you are...

I'm just not as SMART as you... So I 'beg' your reasoning...

Fri, 04/12/2013 - 17:35 | 3443014 CH1
CH1's picture

So I 'beg' your reasoning...

<crickets>

Fri, 04/12/2013 - 18:10 | 3443104 francis_sawyer
francis_sawyer's picture

naturally ~ 'CRICKETS'... smartest thing you've ever said or commented upon...

Fri, 04/12/2013 - 18:35 | 3443181 fonestar
fonestar's picture

BLAH ~~ 'blah' Blah, Jews, Blah, BLAH ~~ '~'

Sat, 04/13/2013 - 12:00 | 3444530 phyuckyiu
phyuckyiu's picture

BLAH BLAH BLAH Bitcoin is best thing ever, you are all fools who will envy me soon enough BLAH BLAH BLAH BLAH

Fri, 04/12/2013 - 18:35 | 3443182 fonestar
fonestar's picture

.

Fri, 04/12/2013 - 23:41 | 3443994 Hive Raid
Hive Raid's picture

What do you really know? Manipulation?

Look at the 10 year silver and gold versus money supply:

 

http://www.kitco.com/charts/historicalsilver.html   (multi-year silver etc)

http://www.shadowstats.com/charts/monetary-base-money-supply

 

These fluctuations correlate pretty well, no?

There was exuberance and fear in 2011, but also a rapidly expanding money supply.

They are printing lots of money, but presumably there is significant deleveraging in an economy that has been offshored--meaning debt pay-downs and defaults collapse money supply due to the fractional reserve dynamic. Perhaps the printing is just offsetting the deleveraging.

I don't know. That's why I didn't buy in the 40s or 30s.

Ignoring the correlation and looking only at the 10 year trend, 26 silver does not seem like an amazing deal, especially if you chop off the ~50 bubble and write that off as a little mania. At 20 it may be a great buy.

People speculate on the cost to mine, but silver was under 10 in 2006. Does that mean miners were losing money if you trust seeking alpha's $25 to mine estimation? I doubt it.

It's all relative. What do you really know?

I don't study economics, so I welcome you to tell us why this is wrong.

 

 

Fri, 04/12/2013 - 16:51 | 3442832 James_Cole
James_Cole's picture

Sinclair et al have no fucking idea whats going on.

I took a look at his blog, too funny, guy has lost his mind. What's Sprott saying? Let me guess - buy my ETF's, everything's on sale!! One time only!! Buy now or forever be shut out!!

It's a great mystery why anyone is even still in his etfs. Or maybe they aren't...

http://www.google.ca/finance?cid=882109556598902

Genius at work!

Fri, 04/12/2013 - 17:07 | 3442900 AllThatGlitters
AllThatGlitters's picture

Well, he isn't in them.  Or is in them a lot less as of a few days ago (nice timing).

He was sellign the hell out of PSLV a few days ago, from his charitable trust.  

When other "gurus" asked about it, he first replied that it was because he had certain charitable obligations. Then he said he was going to swap the PHYZ for Miners.

Fri, 04/12/2013 - 17:30 | 3442991 James_Cole
James_Cole's picture

Then he said he was going to swap the PHYZ for Miners.

Sounds legit lol

Maybe he dumped the cash into one of their recent favourites CIS.to - phenomenal performance this week!

Fri, 04/12/2013 - 18:00 | 3443083 thewhitelion
thewhitelion's picture

Not that it means much, but I swapped some PHYS for RGLD and SLW yesterday.  Looked at the charts and just could not resist.

Fri, 04/12/2013 - 18:18 | 3443127 AllThatGlitters
AllThatGlitters's picture

Well, to be fair, I was thinking about doing just that, but didn't sell in time to do it.

If Sprott follows through and does buy miners, after today's big dip, having first sat on cash...  Well, respect man.

I just always wonder how the billionaires know when it is coming. Especially Sprott, who is a supposed adversary of the Fed! 

Sat, 04/13/2013 - 00:47 | 3444067 HedgeHammer
HedgeHammer's picture

Aside from nailing down one's loyalties be it good or bad. The Good guys have moles too and plenty of money to buy information. Just saying.

Sat, 04/13/2013 - 08:12 | 3444272 Gazooks
Gazooks's picture

GS says short, money shorts

 

who the fuck needs a mole when you have satan itself

Fri, 04/12/2013 - 16:56 | 3442855 AllThatGlitters
AllThatGlitters's picture

LOL.  Check it out, they just stuffed Silver under $26 in the last few minutes.  

 

Maybe Sinclair is a tool of those that want to push PM's lower.  Possible? All his fame comes from what, one call that a bull market would start, at an inflection point?

Fri, 04/12/2013 - 17:25 | 3442968 catacl1sm
catacl1sm's picture

It's almost in free fall. Fucking amazing. Bitcoined bitchez.

Fri, 04/12/2013 - 18:02 | 3443086 Bunga Bunga
Bunga Bunga's picture

Gold bitcoined, but bitcoin gets golden ... trading above 100 again.

Fri, 04/12/2013 - 18:22 | 3443141 Mine Is Bigger
Mine Is Bigger's picture

The way it is going, bitcon may hit an all-time high in a week or two.

Fri, 04/12/2013 - 18:55 | 3443243 Supernova Born
Supernova Born's picture

"Bitcoined" sure made it to verb quickly.

They have a verb, the proponents now need a nickname.

Bitcoin viri.

Fri, 04/12/2013 - 19:34 | 3443347 Bunga Bunga
Bunga Bunga's picture

... here we go ... bitcoined.com

Fri, 04/12/2013 - 18:33 | 3443174 nmewn
nmewn's picture

Thought I'd never see 1400 again...as they say, timing is everything.

I hope to hell all the rest of the "former sovereigns" of europe are forced to exchange all of it to cover their debt...the object (for us) has always been to relieve them of as much of it as possible.

Its clear, they can't be trusted with it ;-)

Fri, 04/12/2013 - 18:00 | 3443082 Croesus
Croesus's picture

Yes, guys who've been in the business longer than you've been alive have NO CLUE what's happening....because they've never seen this before.....

 

Fri, 04/12/2013 - 18:58 | 3443248 1fortheroad
1fortheroad's picture

What's Happening??

Uncle Ben is injecting 85 billion a month and you expect the Markets to be rational??

 

Fri, 04/12/2013 - 20:58 | 3443622 Papasmurf
Papasmurf's picture

He can't stop or things will completely collapse.  Morphine withdrawal would kill the patient.

Fri, 04/12/2013 - 18:18 | 3443124 AllWorkedUp
AllWorkedUp's picture

Absolutely no fucking clue is right. This ain't the 70's and 80's. This is the era of manipulation 24/7 and the crushing of any semblance of free markets or threat to the USD fiat joke. Sinclair and all the rest of them should just shut their pieholes.

Fri, 04/12/2013 - 18:50 | 3443240 johngaltfla
johngaltfla's picture

Gold Bulls and traditional market gurus have NO CLUE AS TO WHAT IS ABOUT TO HIT!!!!!

 

Attention Carry Concealed Licensees, Ham Radio Operators, and Precious Metals Owners: Registration is Confiscation

Fri, 04/12/2013 - 16:59 | 3442865 HardAssets
HardAssets's picture

World War 3 ?

Fri, 04/12/2013 - 18:26 | 3443150 deKevelioc
deKevelioc's picture

This take-down smells of incredible desperation.  What can be so bad that these jokers need to trash paper metals?  We all know, but could there be something worse, like war?  When I saw the metals sliding from levels that are already cheap, something BIG must be on the horizon.  It's amzing to be around to see this insanity, and it will get worse.  We haven't seen the final act, yet.

Fri, 04/12/2013 - 17:13 | 3442925 Room 101
Room 101's picture

Yeah, premiums are up.  A couple percent today.  Naturally, the decrease in price is due to a decrease in demand.  That's why premiums are up and the dealers are overwhelmed.Here is a dealer price comparison tool.  Note that the head of Liberty Coin and Precious Metal is a ZHer. 

https://comparesilverprices.com/

 

Fri, 04/12/2013 - 16:42 | 3442772 malikai
malikai's picture

Lovely little trinkets with all sorts of beautiful pictures of masonic symbolism intertwined with a denominational symbol, featuring a long dead figure who turns just a little, every time one is printed.

Fri, 04/12/2013 - 21:37 | 3443721 jekyll island
jekyll island's picture

A dollar is an IOU nothing

Fri, 04/12/2013 - 16:28 | 3442668 TraderTimm
TraderTimm's picture

Waiting for the "Gold is dead" pronouncements... oh wait, markets can fall and it will still be around?

Amazing.

But of course if bitcoin has a decline its the end of the WORLD. (To some rather misinformed people.)

Fri, 04/12/2013 - 17:06 | 3442901 fonestar
fonestar's picture

The gold and silver only crowd:

"The enemy of an enemy is an enemy"

Fri, 04/12/2013 - 18:05 | 3443092 Croesus
Croesus's picture

Poor Buttcoin Pumpers.....

What's it going to take, to get it in your thick heads that Buttcoin is NOT 'anti-establishment'?It's not "Good as Gold".

 

 

Fri, 04/12/2013 - 18:40 | 3443210 fonestar
fonestar's picture

It doesn't get any more anti-establishment than Bitcoin! 

And there is no comparison between gold and Bitcoin!  YOU are making that up!

Fri, 04/12/2013 - 18:44 | 3443224 dick cheneys ghost
dick cheneys ghost's picture

Tell me how many bitcoins in this picture.........

 

 

 

 

 

 

 

 

 

 

If you can guess the right answer, Ill give them to you.........

Fri, 04/12/2013 - 18:49 | 3443237 Croesus
Croesus's picture

@ Fonestar:

No, I never claimed Buttcoin is good as gold. Your fellow BTC pumpers were doing that. Anti-establishment? I call bullshit.

It doesn't get any more pro-establishment than a 'currency' that travels along the net architecture (bought and paid-for, by TPTB), and maintains a record of ownership (like http://www.wheresgeorge.com/). It doesn't get any more track-able than that.

The legal framework isn't there, but that's today. DotGov would love to be able to know how you spend your money, where you spend it, when you spend it, and more importantly, "did you pay taxes".

It's about power, man.

Fri, 04/12/2013 - 19:29 | 3443332 fonestar
fonestar's picture

"bought and paid-for by TPTB" are you serious?

So you are saying because ARPANET was government funded research program 40 years ago they control all network devices on Earth?  I am not even going to debate this.  Just the lack of basic reasoning is disturbing. 

Fri, 04/12/2013 - 21:46 | 3443747 MeelionDollerBogus
MeelionDollerBogus's picture

Why don't you check who owns the most used, largest capacity network transit paths & hubs NOW.

Then you can give yourself a -1.

Sat, 04/13/2013 - 02:13 | 3444118 fonestar
fonestar's picture

I know the people who own hubs... the ones that didn't upgrade to a switch back in 1997?  LOL...

Sat, 04/13/2013 - 00:46 | 3444068 Croesus
Croesus's picture

@ FONESTAR:

Not saying DotGov controls it, just that they have unrestricted access to all of it. DotGov is a revolving door for BigBiz. Do you think that net architecture was put in place without backdoors for DotGov?

To quote your words: "Just the lack of basic reasoning is disturbing."

To prove that point, consider the DotGov-BigBiz incest in these diagrams:

http://endthelie.com/2012/04/18/18-venn-diagrams-showing-how-corrupted-a...

This is a very superficial study on that.

Now, to show you that DotGov LIKES BITCOIN, I submit for your perusal:

http://developer.mintchipchallenge.com/challenge.php

 

That's right, young Fonestar, it's the Mintchip Challenge, brought to you by the Royal Canadian Mint! A contest to develop e-currency apps. Geeh, sounds a lot like Buttcoin to me, only it's a Canadian DotGov agency. And the irony of it all? The contest winner got $50,000 in Gold Bullion.

Now, I'm sure you'll come up with some justification like "well, that's Canada, not here"........Cyprus is Cyprus, not here or Canada, but similar bail-in plans are in place (or in effect) in all 3, are they not?

There was a reason I said "Bitcoin plays right into the hands of the establishment it claims to be fighting against".

(h/t Terminus C)

Sat, 04/13/2013 - 02:11 | 3444116 fonestar
fonestar's picture

That is completely false.  The Canadian MintChip was anounced a few years back and I have heard nothing of it since.  Besides the fact that MintChip is also a digital currency, it has absolutely **nothing** similar to Bitcoin in terms of protocol, issuance and architecture.  MintChip is a centrally planned, centrally controlled currency by The Bank of Canada.  Bitcoin has no central authority.  You may wish to actually bother reading up on some of these obvious differences, unless of course your primary purpose was just to help spread FUD which I don't discount.

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