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Gold Bitcoined, Bonds And Yen Soar, Dow Back To Unch (Of Course)
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:
EURUSD must ramp over 1.31 for green DJIA
— zerohedge (@zerohedge) April 12, 2013
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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war coming?
Long MIC stocks and WW3 2014-2018 (100 yrs after WW1).
Long sticks & stones for 2019-2525.
In the year 2525, if man is still alive...
Gold to 1400...then bank closure and reset?
Who is taking posesssion of the Comex and GLD physical.
I don't know what it means for sure but Fofoa suggests that it could be support for the paper gold market being withdrawn.
He may be right, maybe not.
If your paradigm ain't working maybe try another.
Why is gold falling as all major CBs create new M0 as fast as they ever have?
Why are CBs acquiring physical at record rates?
HOW can gold be falling in this environment? Could it be that paper promises are no longer trusted? Could it be the appeal of leverage is loosing it's attraction compared the the real stuff?
Again, I do not know for certain but I know how I'm betting.
Yeah, me too.
Central Bank announcement later...
If you have had some measure of success meddling in some market in the past, and it no longer seems to be working how it used to, then you must redouble your efforts.
If that isnt effective redouble again, see the housing market for example...
Central planning 101.
I sold all my bitcoins today, 100% profit .pD. So die gold bug bitches, we got da money.
You got da fiat. WE got da money.
Ah well, all my money goes to pay rent and bills, so that I don't have to sell another kg of silver this month.
I sympathize. It's always a bad day when you have to sell metal to pay bills. I've had to do it too.
Rent > silver > platinum > gold > bitcoin speculation > fiat > electrofiat.
Haha - gloating about selling your bitcoins today - I'd say you're a couple days late on the sale there Einstein.
How much did you make?
in terms of real money or the imaginary shit you're tossing around?
Real money. When you buy gold for fiat, surely you tossed some imaginary shit of your own?
Of course you did.
And I suppose you are also writing that message from your yacht as Scarlett Johansson sucks your dick and Jessica Alba rubs your back?
confirmed troll.
Enjoy being audited by the IRS for suspicion of tax evasion.
How are you going to prove your capitali gains claims, without showing your Bitcoin transactions?
Or do you intend on actually evading taxes on these profitable trades?
Did I say that I intended to evade taxes? And I have no fear of the IRS, as I am not a citizen of the US.
Again, who gives a shit on paper gold and silver? Did the Central Banks quit buying PMs? If you had the ability to crush the paper price while buying the physical what would you do? You would crush paper as hard as you could while buying the physical through intermedaries, right? I hope silver goes to $10.00 so I can buy, buy and buy. I don't give a flying fuck about paper pricing of gold or silver. All I can see is inflation is going on everyday. Some deflation in other areas though...
the last time of such lows - beside those intraday-flashes - were at the end of June 2012, the month with the broad stock-revival due to QE-ON-HOPIUM, whilst DXI was kind of high and the Euro low.
Now, with a lowered DXI and Euro comparably high, I don't really get this. Anybody in the Euro-areas should run to get at least silver physically. What's wrong with this picture?
One possible explanation: it is clear than since the fateful takedown in gold and silver in 2011 with the blatant corruption of the margin hikes, the market is moving to a leverage of 1 on gold investment. Prior to 2011 there was most likely a multiplier applied (lets say 2 for equities but for gold futures it was much higher). If you assume the market is moving to a 1 gross leverage exposure, the price would fall but given the massive money creation, not much. However this is a one time event.
Dollarama is up 5% (Toronto stock) and all gold miners down 7% or worse.
Reflecting the true state of our "recovery".
If there was an IPO on a coming revolution, I'd go all in.
My kids will not serve the banksters. I would fight until my last breath to protect them from the scum on Wall Street and in DC. Many fathers I know feel the same way. Time for a good can of ass wooping is here.
Economic numbers/ economic activity is just putrid!!
And the markets keep going up.
This is getting fucking surreal - like an inverse universe.
I better run now - have to water my dog and take my lawn to the vet.
Bizzaroworld - down is up and white is black losses are profits and economic collapse is a good thing
I am 'unexplicably' smirky about today's gold and silver price movement.
The latest smear article from CNBC filled with lies and half truths about Bitcoin.
Even with the loss of the exchange it is performing less volatile than good stocks with 11m float.
Last price:$94.00000
What the *&#$%@* Is Bitcoin?
no, It’s still more volatile.
but.... but won't the mining companies go bankrupt with the gold priced at this level?
If so, it is to nationalize; if Au is not money, why do governments seize it, as that communist FDR did?
Okay, I know it's Friday afternoon, but I have a serious question. How can the yen be rallying when Japan is going to double their money supply? I obviously have a complete misunderstanding of the way things should work. Can someone give me a serious answer? Or is it ALL just manipulation as part of the ongoing currency wars?...
Tyler just posted ...
The only serious answer I can provide is the following:
Do not try to use logic to make sense of this market. This is not even a market any longer really. It's just some rigged third world casino with a NYC home address. That's all.
There's no market, . . just manipulations.
I cant help but look at the charts, its a very long time personal habit. But I know its all really b.s. All of it.
IMO all you can do is firmy know the fundamentals (groan, I hate that) and act accordingly. Is the economy really improving ? Is it a good idea for all the nations to continue to print their fiat like crazy. Do you believe Wall Street, the politicians, and the mainstream media?
Though you also need to spread your bets around. The crooks run the casino.
But I think that the last straw may have been broken. The cascade effect from the European Central Bank requirements that Cyprus sell 10 metric tons of supply puts a little kick into suspiscions that "You can't have your cake and eat it too." Pschologically the message is "We're going to get it one way or another." IMO this makes the retail and commercial holders want to sell before a panic really ensues. Trying to keep my head from exploding; the state is in a new battle for real assets they could count on, but now have to take the same haircut everyone else is. I am somewhat behind on info as my work interferes with it. ei... I am not a trader. This is the most confusing time I've ever experienced. Charts, Alogs, and all that are beyond what I've ever seen. The math doesn't beat the passion, or the greed. Provident ain't moving the bottom prices on rounds. I've never seen this before.
BTMFD
Fukushima safe now !
Worker in flip-flops must now go back to nuclear Exclusive Zone.
TEPCO say so !
Everything save now !
only Japanese Economy boom, no problem -
Report to workstation immediately!
TEPCO
Check this out http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/4/12_Former_US_Treasury_Official_-_Fed_Orchestrated_Smash_In_Gold.html
Thank you. Thank you so much.
Finally, a real explanation as to what is going on.
It would seem that there is no limit as to how far down they would take the price. They are unfettered by law enforcement, so if they need one penny gold, one penny it will be.
I've done everyting right and I'm losing. I'm so filled with rage I can barely stand it.
That about sums it up, i'm right there ith you.
Have a good weekend, hopefully you can forget about it for a spell ...
Wait a minute... What happened to BTFD? You don't like deep discounts?
Or did you get caught in the Greater Fool spin cycle (bought in at $1700 and hoped to sell at $1950)? Not a true Believer/Hoarder?
The problem is that the physical tends to "dry up" when prices are down. It's only the paper market where these low priced metals are available.
But those markets are controlled by the crooks who are allowed to do as they please because it helps the government and the Fed to look good.
And so you should be. If someone broke into your house and stole your cash, you'd feel the same way. There is no difference here.
Nothing an ice cold craft beer can't take care of! Here, have one on me!
http://2.bp.blogspot.com/_l_tkbMW7gpE/THsJg8Kt_fI/AAAAAAAAAKw/JvjoVi0xJ1...
I've done everyting right and I'm losing. I'm so filled with rage I can barely stand it.
Stop Playing Their Game.
The rules are written so that you labor for them. Keeping the rules gets you drained and discarded. STOP.
Drop out of their rigged game and start doing something better.
Don't wait for permission!
Losing what? Did your gold or silver get lighter? Or did you get a price low enough today to buy more? The only way to lose is if gold goes too high and you can’t get any, or if you need fiat cash super-quick and didn’t plan properly. I always keep adequate fiat in hand for emergency needs & what is excess goes to silver or gold. This isn’t rocket-science.
Reatil sales sucked, confidence sucked ... so the top three DOW stocks today were Home Depot, McDonalds and WalMart. WTF?
Gold sold off because of massive selling pressure from Japan today.
WTF? Japan prinmting like mad, yields HAVE to rise if inflation goes up and an aging population that has to CASH IN govt bonds to get their monthly sti[end. Nobody left to buy into the PONZI there. Gold should be headed UP as the locals are cashing in yen for PM's
I hope you understand that there is no reason for massive selling pressure from Japan or anywhere else. Just the opposite in fact with their decision to print a trillion $'s worth of yen.
what happened to all the yackin and cheerin? I was away makin gains on the bitcoin chaos yesterday and looks like funeral here? what happened??
OHH gold dropped $100 in a month and bitcoin gained $40 in a month? must be it
It's just a case of nerves. Everyone gets that, 'Oh shit, what if I'm wrong?!?' digestive upset at some point.
Nope, the dump truck wouldn't start so we can take a drive to the coin shop. Don't worry we got it running. The first thing I did when I got home was open up another BU silver dime order and sorted through it. Then I went to my coin dealers website and THEN I came to ZH. I wouldn't worry about us too much. We keep an eye on spot prices of course and we will BTFD. Been buying since 270 AU and 5 AG and all the way up.
I will admit that today was pretty bad for PMs but we like buying opportunities. Plus it is pretty early and we aren't drunk yet because we have to drive this truck.
http://www.youtube.com/watch?v=k4i6MeLaSX0
P.S. If BTC ever figures out what it's price should be I might buy some back. I would not run around bragging and picking fights with Goldies when your BTC 30 day chart looks like it does right now.
I buy both and cashed out a few bitcoins into gold a few days ago when it was $185.. I bought more btc on the way down 141 & 91 but liquidity is a bitch in those exchanges since very slow roads to get cash into them or btc wouldn't of crashed as hard as it did
gold is easy to buy, so not sure why that wasn't defended better
I don't really understand your 'buying opportunities' if all you do is buy all the time.. are you just taking out 20% of your social security checks and buying every month regardless of the price? I don't think the crowd here is sitting on 80k waiting for a new 'entry point' for gold right?
what is your plan?
Social Security Check?LOL No, I am not that old, only a few gray hairs, more so in my beard if I let it grow out. I sell as well and hit the $49 silver top at which point I dumped my heavy bars and took cash, not digits, cash. I can't seem to remember if I 1099'd that or not... nevermind.
My plan? I have not bought gold since 2008 to be honest and I have not sold any either. Perhaps I should have? I still could and make a 5 bagger but I'm not selling that. Silver is more my game these days. The gold can just sit where it is for now as a result of my last boating accident. Silver on the other hand needs to be inspected for corrosion and rotated. Some of it ends up in the sell box and that's what I grab when I see a parabola forming in silver.
Other than that, I simply dollar cost average it all out and I never buy in large quantities except for the time in 2008 when WSCoin did not update their site fast enough and left a dollar and half an ounce descrepency in their pricing. I cleaned them out of ALL of their silver. Some it was just melt value anyway.
To hedge, I keep an eye out for numismatic potential (low mintages) that is priced close to bullion on the last of the 90/10 US silver coins. Ihear the name APMEX and Tulving and MWMint all the time but I have other sources that sell better coins. I got a roll of dimes from APMEX last week and I was like, WTF did you assholes send me this for? But I knew what I was getting into there. Since I last posted, I have found some rolls of BU 1955D Washington Quarters that might need to be mine.:-)
The rest of the plan is pretty simple. I have pulled all my money out of the paper markets. My goal is to own as little as possible that has a title or an account number attached to it. My real estate is on the market and there is no mortgage. As for what evetually happens to my efforts in AU and AG, most of that will probably go to the kids or grandchildren should I live so long, along with the guns n ammo, hi cap clips, etc. Inheritance tax THAT bitchez! In other words, I am in it for the long haul and not just for myself.
Have you ever been to a major coin show? I highly recommend if you have not. Bring a shitload of cash. In God We Trust, All Others Pay Cash, is a very common sign to observe at the dealers tables.
For many bit-tarders (oh, sorry, I meant traders) the actual movement was -$150 not +40 so your smugness is at the cost of others on the wrong end of the Ponzi. Bit-ponzi is dangerous & stupid.
If those who mined bitcoins stuck to barter and no fiat exchanges existed that would be fine. And if unicorns shat skittles. Welcome to the real world. Before long you’ll see bitcoin at 10 digits – all zeroes.
** edit : click red triangle for instant bit-tarding mining!
Once physical supply is exhausted and paper fails we'll finally discover the true price of metals, it wouldn't suprise me in the least if a year from now we had solid copper coins valued @ $5 each the size of a half dollar.
The paper bugs keep the ponzi going, if only 25% demanded delivery the whole shebang would fall apart.
Bitcoin is up ~425% from January.
BTW, Coinbase is a Goldman Sachs outfit designed to collect bitcoins for themselves using other peoples' money. Fred Ehrsam, Goldman Sachs Forex trader, is employee #1 at Coinbase. I suspect they had a hand in the price dump cuz that's just what they do.
''The old fashioned way. Buy some bitcoins. Sell them because you know they'll drop. Buy the low priced bitcoins and repeat. You'll be rich in no time.
I sell bitcoins at market price plus 5%. It might go up to 6% if demand stays this heavy.''
ill ask you again, are you a Jewish Banker or a Winklevoss?
I'm the new Jewish banker. I want both of us to get rich.
BTW, I'm in the market for a bibliographer and biographer. As you seem to keep track of my past writings so well, are you up for the job?
It drops about 75% is one day, yet here you are still shilling, pumping and cheerleading the bitcon Ponzi.
You are the most tenacious, determined and desperate bitcon pumper I've ever seen.
> tenacious, determined and desperate
Thanks. That describes me perfectly. It also describes most of the other members of ZH. TDD.
Screw Coinbase. Even as a BTC believer, I wouldn't go near Coinbase...
They are in CA, they charge you a fee, they collect your info/data, they sell your data to banks, etc, they share your data with Big Bro/Ho. The value proposition here is ... what??? Might as well use Debit/Credit card and save myself the computer games and gymnastics.
A total honey trap for idiots.
I am putting in feelers into all the exchanges/wallets since liquidity doesn't spread around fast.. one market can tank while another holds its price. If you had money in each of the exchanges yesterday you would of made a killing.. could of bought as low as 45 in a few places while gox was down
Coinbase is fishy with their buying limits.. they said they should get rid of them...we'll see. They could be the fastest way to put cash into the system... then you can move it to other places.. moneygrams and bank transfers aint cutting it, and buying from localbitcoins is only good if you have a big miner nearby -- which would be ideal
doing god's work makes lloyd about 30 milliion a year. he ain't stupid and neither are his minions. so - they figured it out. it's an arb and they have a lot more capital to jump in and figure it out and manipulate it.
it really is a piece of cake - if you buy enough and start fake dropping sell prices well below current price and have enough inventory - owners start to panice. and then you pick up the pennies without the bulldozer.
I wonder if we will ever get a chance again to BTFD.
I wonder if we will ever get a chance again to BTFD.
To add insult to injury MtGox is showing three green bars in a row. Up up and away.
Already told you that you just won't see any much red on a friday. We already have horrible consumer confidence the drones don't need to see the last of their 401k go up in smoke. And please no morons chime in and say that people don't watch this crap because they do and word gets around. It's all about the mirage, everythings ok go spend your last pennies at walmart this wknd.
I'd be more interested in what monday would look like if we had a descent selloff that didn't recover back to zero on a friday. This market is under complete control until it isn't anymore. You can play charts off of support levels but it's been a fools game calling the top for the past 6,000 points. I was convinced we'd be there at Nasdaq 3100 and here we are. We all know it's bs but oh well what can you do.
you coulda bought apple stock at 600? but let me see you buy it today and see how that works out of you 'long term'.. suckez.
The funniest part is trying to explain current situation with macro data. Some should stop trying to explain, even understand. This is a discount machine (market) totaly disconnected from realty. So stop looking at reality to explain it. It dosen't make any faken sens.
How many margin calls liquidated positions?
How many short contracts did JPM close out?
What happened with GLD inventory today?
Looking forward to some insights on who got royally f##*ed and how the banksters made out.
It's all about the narrative now, everything else is just a secondary thought superseded by the illusion they want maintained.
the narrative would be fine, except for one thing. all news is good. if it really is good, stocks up. if it is bad, stocks up because requiring more printing.
and since the stock markets closed basically flat today, not UUUUPPPPP, there has to be good news announced on the weekend - co-ordinated jpy, usd, eur that will make markets soar monday. and what is that news? come on kids - come on?? 'no end to printing'.
would be hard to imagine that this was a random event of the market. Something will be announced / happen this weekend that will explain it... Likely candidates are:
1) Korea
2) Major move in the Chinese economy
3) bombshell out of europe.
Just like fed minutes someone knew.
I told some young man to "fuck off" today. I'm losing it. And I don't even own any gold.
Really? What happened? Another one of those young gas station clerks take a "counterfeit detection pen" to your $100 bill? That shit annoys me too so I bought my own counterfeit detection pen and started to check the change they give back. The looks you get in return are priceless. Then all you say is "If you don't trust me then why should I trust you and it's all counterfeit anyway. Good day." Occasionally, you can get a conversation going.
All ZHers should have a counterfeit detection pen on them for this purpose. It's loads of fun for the whole family.
http://www.storesupply.com/sure-n-fast-counterfeit-detector-pen.aspx?source=2&sku=18244&gclid=CMa-qJG5xrYCFXSVMgod9zoApA
I believe we are simply witnessing the ability of Keynesians to prolong and exacerbate an economic depression.
Their unprecedented global money printing may get them the
"event that has yet to be named" that lies beyond a mere global depression.
If margin calls are happening, gold could be flooding the market in an organic way.
Also, it dropped a lot in 2008 down under $700 after it was up over $1,000. A move to 1260 could replicate that kind of thing here.
The crisis is not over.
I am neutral on Bitcoin, I ain't jumping in but I wish them luck.
All strong hands on deck!
Edit: And what if Slovenia or Portugal is getting ready to go Cyprus on us...Need the price down something serious.
You young whippersnappers should have been around last century, say around '80, now that was a ride !!! 07 and 08 was a wild rollercoaster too...
Perhaps just a coincidence, or maybe a telling symbol, the gold-dispensing ATM at the Golden Nugget casino in Las Vegas has been turned off.
.
That makes complete sense. All casino games and machines are designed to have probabilities and payouts which favor the house, even if only slightly. That's why a roulette wheel has two green spaces.
With today's drop in the paper price of gold, the gold-dispensing ATM would be seen by more than a few casino patrons as the machine with the best odds of a payout. Naturally the casino didn't take too kindly to the ATM gobbling up dollars which otherwise would have been used for gambling on their games.
and while the gold market sleeps with its loss.. here comes the bitcoins rising again past $110
All of this money printing by Ben and Jer..Abe is going to end in tears! One of these days the bottom WILL fall out and everyone will be screwed! Wont matter much if you're prepped or not, given enough time humanity will wipe itself off the face of the earth....
Where's the love? Where's the morals? Where's the ethics?
Damn it hurts even to type it much less live it!
lloyd and jamie make 30 million a year. and brian wants to join because tommie montag make 25 and he makes less. and they only join if big bad bama does what they tell him. not a lot of morals and ethics there.
Macro double top...
http://www.macrotrends.org/1333/gold-and-silver-prices-100-year-historic...
Sentiment has turned; all of the rationales for gold have collapsed (to use a favorite ZH keyword)... no rate rise, no inflation, no monetary collapse, commodities in decline, money velocity sinking, etc. In fact, the world is starting to look downright deflationary. Current support looks to be in the $1,200 ballpark. As usual, gold is proving to be a volatile unsafe investment... consider the possibility of having to wait 10-15 years to get back to the previous highs... clearly not desirable if you are at or in retirement.
Why not hedge with some treasury zeros?
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/4/12_Former_US_Treasury_Official_-_Fed_Orchestrated_Smash_In_Gold.html
Today a former Assistant Secretary of the US Treasury told King World News that the smash in gold and silver today was entirely orchestrated by the Federal Reserve. Former Assistant of the US Treasury, Dr. Paul Craig Roberts, also warned KWN that stocks of available physical gold are “rapidly declining.” Below is what Dr. Roberts had to say in this extraordinary and exclusive interview.
Eric King: “Dr. Roberts, we have this smash on gold and silver today. Gold down $75 at one point and silver was down $1.75, your thoughts here?”
Dr. Roberts: “This is an orchestration (the smash in gold). It’s been going on now from the beginning of April. Brokerage houses told their individual clients the word was out that hedge funds and institutional investors were going to be dumping gold and that they should get out in advance.
Then, a couple of days ago, Goldman Sachs announced there would be further departures from gold. So what they are trying to do is scare the individual investor out of bullion. Clearly there is something desperate going on that has one of the best gold & silver purchase & storage platforms
“I have assumed from the beginning that it is the Fed’s concern with the dollar because the dollar is being printed in huge quantities at the same time that other countries are abandoning the use of the dollar as international payment.
The exchange value of the dollar is (being) threatened, and if that collapses the Fed loses control over interest rates. Then the bond market blows up, the stock market blows up, and the banks that are too big to fail, fail. So it’s an act of desperation because they’ve got to establish in people’s minds that the dollar is the only safe place, it is the only safe haven, not gold, not silver, and not other currencies.
And to help protect this policy they have convinced or pressured the Japanese to inflate their own currency. The Japanese are now going to print money like the Fed. They are lobbying the ECB to print more. So I see this as a dollar protection policy.
...I know where the gold is coming from in the market, it’s just paper. It’s naked shorts, there is no gold there. If somebody wanted to take delivery on those contracts nobody would be able to provide it. I don’t know what the source of the (physical) gold is. Some people are saying that the actual stocks available for possession are rapidly declining.”
Eric King: “Going forward, Dr. Roberts, what do you expect out of all of this? If the gold is coming out of Western central bank vaults and flowing to the East, the old saying is, ‘So goes the gold, so goes the power.’”
Dr. Roberts: “Well, I think the power of the West has already been lost. When you have off-shored your manufacturing and professional service jobs, you’ve hollowed out your economy. So gold or no gold, the United States economy has been severely damaged and I don’t think it can recover.
This gold business (smash in price) is something to do with the dollar. They are trying to save this Federal Reserve policy of negative real interest rates. You can’t do that if the dollar loses value relative to gold because it implies it should be losing value relative to other currencies.
If the dollar’s exchange value drops, then the price of imports that come in here (to the US) rise. So you get domestic inflation, and if you have domestic inflation you can’t have zero interest rates, or negative real interest rates. So the Fed would lose control and that’s the basis of this policy.
They are trying to destroy gold as a (safe) haven from the dollar in order to carry on the Fed’s policy of negative real interest rates. That is what is driving the illegal policy of selling naked shorts in order to manipulate a market. If you and I were to do something like this without the government’s instruction or protection, we would be arrested (laughter ensues). So the fact that it’s illegal, being done by the authorities, tells me that they are seriously worried about the dollar.”
No one finds it fishy that all "alternative currencies" got smashed down in the same week? ;p The fed is obviously printing up dollars buying up these "alternatives" and then selling them at a loss to flood the market and create panics.
right now serious arbitrage between the btc exchanges but reason it exists, is that it is a pain in the ass to get cash into each one... I see $20 differences on prices where if you had accounts set up you can buy low, send coins to other exchange, sell high but then moving that cash back to the other is the wall...
that is one of the main reasons the prices are wack
http://bitcoincharts.com/markets/currency/USD.html
I got out, there was money to be made buying low, but now the system may be broke beyond repair, and the banksters seem intent on toppling it. They got trillions to dump big turds on it. Time to sell out btc and get back into silver.
There have been some significant changes in the commitment of traders report the last weeks. Values are oscilating more than normal specially on silver and palladium.
I got one more silver dollar, Not gonna let them get me no, midnight rider...
I've done everyting right and I'm losing. I'm so filled with rage I can barely stand it.
Don't get mad - get even.
many have been experiencing the frustration of calling ii wrong, getting in late during the rally and then having no more funds left to BTFD.
You have to learn from your mistakes and admit, that you did not do everything right.
No-one does everything right...
Gold has been on a rally until February 2011 when it almost reached 2000 USD/oz.
since then it has consolidated mostly sideways, since there seemed no immediate thread
of high inflation, or so the Central Bankers would like everyone to believe.
Gold is mostly an Inflation Hedge and since it is traded in USD,
the price of Gold usually falls when there seems no immediate threat of Inflation.
When the USD falls versus other currencies, it becomes cheaper to buy Gold for other currencies...
Many had expected the Euro to tank, as it should have, and the USD and Inflation to rise.
But the Central Bankers (Bernanke) won't let that happen.
Bernanke will do anything to keep the USD lower than the Euro,
and to keep Inflation CPI (excluding Food,Oil and Energy) as low as possible.
Until now that seems to have worked for Bernanke, but not so much for Europe
and Australia and Asia.
Inflation is rising rapidly in the rest of the World.
The price of Oil in Asia (Tapis) is always much higher than in the US. (Tapis US 110 -120)
In Australia a litre of fuel is 1.30 -1.50 AUD and to buy an Apple computer or Adobe softwear
is 200% MORE EXPENSIVE THAN IN THE USA.
Inflation is hitting hard in the rest of the world.
Since Bernanke manipulates the USD with TWIST 85 billion each month
and unlimited ZIRP (zero interest rates) he exports inflation to the rest of the world.
In the US however, it is cheaper to buy Oil and other commodities like Gold,
since all commodities are bought and sold in USD.
So to me, it is little wonder that the price of Gold has come down a bit,
since this relates to Bernankes USD devaluation.
Gold is linked to the USD, since to buy it, the USD is the only valid currency,
and it can be only sold into foreign currencies, after USD conversion.
By manipulating the USD, Bernanke manipulates the price of Oil, Gas, Gold
and all other Commodities.
my advise;
don't get mad, get even.
wr;)
The greatest trick the devil ever pulled was making people believe she was manipulating PMs down (when in fact it was up).
That's the only thing that matters to these idiots... completely oblivious to the fact that the 99% are suffering. As long as the Dow is soaring nothing else in the world matters
An interesting post from Pope of Wall Street on the Yahoo GLD board:
"I see the move on Friday as the final stop running after a very difficult 6 month intervention. This is not how gold uptrends finish. It needs to spike out and then show you it has no support A 6 month controlled war against price is not a top. I would be doing heavy accumulation all the way back to 1800. It really needs to spike out with a 75%-125% gain and then drop for it to be ready to settle. Gold is not an easy trade, but there is no reason to be selling just because some stops were run. Running stops very quickly at some percieved technical point is usually how a raid ends. The goal was the stops."
I believe that gold might be the ultimate bubble. Its not used as a currency, we are not going back to a gold standard and gold is not a safe haven in deflationary times. The Gold bugs argument is that gold is a safe haven and that it is a great inflation hedge. It's correct that its is a great inflation hedge, but we are not going to hyperinflation.
No signs of extra ordinary inflation despite all this money "printing". The truth is that we are deflating at a rapid pace but very few notice due to the massive ammounts of "printing". When the creation of new money at this speed will stop, people will start notice.