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Stupid fucks. They aren't smart enough to see that the fed was just trying to add a cushion the past 2 months before the shtf. Put your own money where your mouth is, assholes.
I keep hearing this mime that the "paper" price and the "physical" price of PM's will disconect. Bob the coin dealer is charging a huge premium over spot to buy!
What is the price if you want to sell to Bob? I am pretty sure he will only pay the spot "paper" price! You know the phony manipulated price.
Do you really think the price will shift from the market to whatever Bob the coin dealer thinks is the price?
Tell Bob he buys your gold for something near what he's selling it for or your physical walks out the door never to be seen again. His attitude will change real quick. He knows how hard it's going to be for him to get physical to make up for losing yours.
Mimes don't talk silly
My neighbor left early this am to grab some before they are sold out...
If everyone and their mother is rushing out to buy that's a good sign lower prices are in the cards.
And to further that question, who was buying STOCKS during the selloff in 2008-2009 during a similar panic? Hmmmm, I'll give you one guess.
The sheeple keep getting fleeced as usual because they are followers.
Remember that gold and miners bottomed 5 months before equities 4 1/2 years ago.
Everyone is buying. It is a sale.
Is it raining in here? Nope that is just Krugman slobering all over this gold crash.
Maybe China? Aren't they the largest gold producers but still import gold--why? Wonder what would happen if China backed their currency (with exchangability) with gold??? Nobody ever said that the Chinese were Kaynesians . . .
A buddy of mine in downtown Toronto reporting that the lineup at the Scotia Moccatta desk is the longest he's ever seen. They're also limiting the total PM you can buy to $3,000 or 2 ounces of gold.
It took an hour or so of busy signals before I reached my dealer. He had almost nothing left. I got his last 8 1/10 oz coins ad some 1/4 ouncers. All his good silver was gone so he suggested a minimum of a months wait for more.
Is this another periodic takedown by Blythe and Ruprect, or is this the beginning of the PM roller coaster ride we were expecting a year and a half ago?
Stand your ground, we've been here before.
Crosby, Stills, Nash & Young-Deja Vu(4:15) :
https://www.youtube.com/watch?v=c7aWOh0OZrgKnowledgeU
Yesterday ZH posted and article: http://www.zerohedge.com/news/2013-04-14/mike-maloney-todays-low-gold-si....
Well, today we learned just how 'wrong' they were. /s
Old axiom: The price is what the MARKET decides it is. Whether the 'market' is free or not, manipulated or not is a separate discussion. In the final analysis... you get what someone is willing to PAY, not what you think is "deserves" to be.
To quote philosopher Jagger: "You can't always get what you want..."
Hedge/invest accordingly.
Actually, a lot of people got a lot of the cheap gold they wanted today so maybe you can! That particular physical market (gold being a metal remember) charging high "premiums" (i.e. market prices) for gold and silver.
Philoso-raptor strikes again.
I went to the monthly coin dealers show yesterday looking for phyzz [assuming "on sale" after fridays drop].
The mark-up on bullion coins was 8.5-16% over spot. VERY limited supply. I bought some qtr oz pieces but that was all. The silver rolls were astronomically priced over spot (20% vig).
People at the show were more interested in bullion than collectibles. just an observation from here in the capital of FEMA 6 region....
There isn't a coin shop in the western world with inventory. That's the big story that ought to be on Yahoo! today
Nobody is buying, this is called deleveraging... Just like stocks, a lot of paper markets are being pushed up by leveraged accounts, once unwinding begins, it goes very very fast
FALSE: You cannot sell that which you do not actually own.
You can take a position in 1 gold future valued at 136k with only 6k in margin... This move is caused by people who (are forced to) reduced leveraged long positions
Wait! What if ALL the people selling gold didn't have any? OMG!
I bought!
I just got 1 ounce silver rounds at $26.50. Coin shop said it was crazy today, he wouldnt sell any 90% under 20/face ( he used to sell at spot)
And so the much anticipated divergence begins. Spot (paper) price and physical have bid each other adieu.
My dealer has not had much of anything in silver for weeks. With all the drifting nobody was selling. No panic selling of REAL silver only paper, so far. Keep stacking, my friends......
Yes, yes, my pretties, sell me all your precious...uh, I mean barbarious relics.
The folks over at FOFOA are not surprised by this paper price decline, in fact they have been anticipating it. Gold will never be free until the paper market collapses.
two more devices were found and dismantled
One buyer for every seller....no more, no less.
I'm buying. It's gotten impossible to get silver round these parts, but I managed to get some gold nice and early. Good thing too, there's virtualy no stock to speak of any more. The online shops are all shut down over night now, because they can't keep up with demand. It's no wonder prices are going down. No, really.
Cash is king! Thanks Bernank.
omg, so funny, so true, so sad :)
$2.50 over spot.
nice pic