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The Gold, Silver Morning Smackdown Becomes A Smackup As Surge Continues
After recovering 50% of its record plunge last night, gold continues to rise this morning, topping $1450. Silver is even more exuberant this morning testing up to post-crash-low highs around $23.90. What is more interesting is that for three days in a row, instead of the seemingly ubiquitous morning smackdown of precious metals, we have seen a sudden desperate demand for silver and gold in the US morning.
Silver is lagging gold's recovery for now...
Charts: Bloomberg
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Gotta cover those shorts.
But Jon Stewart promised me.....
Why keep showing the paper price? Its irrelevant.
Smack my bitch up... [I thought that was BANNED from MTV]...
Of course this is happening.
Those that shorted 500 tonnes of paper gold, have to close their positions and buy back the contract - hence the rally!
Meanwhile, BTC is up almost 300% from its lows from its own "crash". But I guess BTC is only noteworthy when it's sensationalistic enough to be used to make a point.
BTC can't lick the sweat off of gold's golden balls.
Physical demand was already getting intolerable - and then Cyprus and the revelation of the G20's push for property bail-in seizure followed by the price smash has driven gold and silver physical demand much higher.
Most are focused on the price of gold and silver.
It's all about the flows and the desperation to secure physical - the physical gold and silver rehypothecation situation has become visible to some who thought they owned gold and it will become increasingly known as 'owner' after owner of phyz is shut out when they ask for their property.
So I take a ritalin to write a fucking grant proposal (spending your tax dollars) and I find myself over at Twitter breaking records. This is not how I pictured it working out. With that said, go gold! Yeeeeoooow.
the institutional naked shorts must be shitting themselves on every rise and the massive consumption of all america's gold.
Who cares about silver priced in Benny Bux? Just buy the shit while you can until your fingers bleed.
Really?
http://blog.quantsig.net/2013/04/25/gold-btc/
dup
Btc has the intrinsic value of pocket-lint. A pgp-signed note for amounts of gold or silver I’m proven to hold has more value than btc.
I'm out of powder. All in. I'm ready for blast off. Let the currency collapse accelerate to warp speed in 3...2...1...
... ZERO ... Hmm, strange ... nothing happened. I guess, that means we have been saved again, right?
Carefull out there as the perpetrators of the gold smack down were not exposed, they may feel comfortable to do it again. I am staying put for a while
They banned all music from MTV.
true dat
It was all downhill when Martha Quinn left.
When Beavis and Butthead left!
When the MTV astronaut left.
The M stood for MUSIC. Now it stands for MUSH.
Some of the originals are on SAT radio which is cool.
It never stood for a damn thing - eMpTVision.
nah, she was mediocre. Matt Penfield was the best.
Why do you even know what's on MTV, or any TV? Do you enjoy being lied to and supporting your own serfdom? Wakey, wakey little sheep.
So we have a lot of moving pieces. Let's try to piece them together.
Other countries repatriating gold? What if the Fed didn't have enough? This is something we've all thought about.
What if the JPM vault ransacking and the gold smackdown was to attempt to drive the price down so they could buy up the physical to replace in the vault? That could also help explain the physical PM shortages.
This could also explain any subsequent panic buys. Imagine you short gold with everything you've got to try to scare people out of it and the opposite happens, with people lining up around the block? I'd be pretty worried too.
How much unregistered gold is really left?
Did the US close the gold window after they ran out of gold? No, I think those real oligarchs know the value of gold. They are not going to use up all the physical gold in trying to manipulate COMEX prices. I think the game will continue on a while longer until everything goes poof and everyone lays their cards (how much real gold they are holding) on the table. My guess is that the US oligarchs will have the biggest stash of gold when all is said and done.
As long as they keep paying the fees for renting the gold, the game continues despite the rented gold being turned into jewelry and sold.
It will be fun to watch the finger-pointing.
US oligarchs will not be living in US when any declaration, or revelation, of their possessions comes forth.
They have ALREADY been 'Simonized'. They got multiple homes in the world, and they swap within their network when they want to visit a place where they don't own a home.
You and millions of 'patriotic' people are just 'useful tools' to them. And it has ALWAYS been that way, poor malleable peasants.
Nobody ever accounted for Yamashita's treasure - all the gold looted by Japan from Asia during WWII. Rumors are it went into black funds (with an appropriate skim off the top for the CIA types and their friends). The question is whether or not the US fed what was left to the Arabs under the table in exchange for oil...
Of course Bix Weir could be right and this is a deliberate system crash and reset - with the US hoarding its treasure for the aftermath..... I just don't believe anyone or any group is that selfless.
What about the hundreds & hundreds of tons of Iraqi and Libyan gold? It sure as hell isn't there any more.
In NY, West Point, Denver airport, Negev desert, or spread over a dozen other places by its thieving 'liberators'?
When it goes down, it's irrelevant but when it goes up, it's not. Such is the logic at ZH.
Beppe Grillo is the only comedian I would ever consider taking investment advice from......
Ever hear of george Carlin........?
Keep on mentioning him. :)
Grillo mocks gold.
He's also financed by Soros.
@ PInto Currency:
Thought he hated the banksters (and for that reason assumed he was pro-gold.) I humbly stand corrected.
@ Kito:
Carlin's one of my favorites. The man was a genius.
I think Grillo mocks the banks owning/hoarding the gold and that it is not exchanged freely - he does not mock the idea of people using it as money.
Let's see a little Cartel panic short covering in action, bitchez.
Fuck you, Blythe/Jamie.
Relax wait until they realize that the buying is not stopping for the bullion then they will hit the panic button at the fix......watch that one
Get your physical bullion now, WHILE YOU STILL CAN! The tea leaves say you won't be able to for long if you hold it at a major bank, anywhere, allocated or not. So many people are going to be MF Globaled, it's crazy. Why the industry plays along like patsies and refuses to set its own price is mystifying. They have the power to but they don't. To see Newmont or anothe rmajor come out and say "we will no longer abide by the paper driven manipulated prices. Our shareholders and local stakeholders deserve better. If y ou want our gold, it's spot plus 33% premium". Daydreaming I am.
Bullion availability will ultimately dictate paper price... and thats when they get nasty.
If you could literally conjure money out of thin air, would you allow 'others' to own/control the only competing currencies to yours? TPTB have used their powers to create credit to obtain control over the mining companies (and their true competition). I don't think they would leave that to chance. (I'm almost positive Rio Tinto is controlled by the oligarchs...not sure on the other majors).
One ounce PAMP Suisse bars with assay are being offered at $2000-$2300 on eBay. Hefty premium indeed! Doesn't mean they're selling at that price, of course, but since eBay is totally 'monkey see, monkey do' when it comes to pricing I imagine that there is already a history at that price.
CAN'T LET THEM TAKE DELIVERY!!!
Slamdown in 3-2-1.
If someone actually does manage to take delivery.....please send me pictures of that.
COMEX: "We Dont/Cant Deliver."
And one day, probably soon, one of those COMEX SOBs is going to say that to the wrong person. We'll know that when we read about in the paper. "body of COMEX official found face down in a ditch somewhere in New Jersey".
As I already mentioned yesterday, TPTB cannot afford to let the PM bullion run become global, or it turns into a monetary crisis.
Likewise, they can't have it spooking the herd if it goes too high too fast. So they will keep it in Max-Min limits.
Plan accordingly.
It doesnt matter, they will instead send lots and lots of brand new $100 bills, that have "Gold Colouration" on them, and you will be relieved.
Complete clown show with these MF's. Hope the Comex explodes and takes JP Morgan down!
Blythe deserves to be sentenced to a male prison....
... with no KY gel rations.
Bite the pillow...
You realize if JPM was actually spectacularly short Comex gold contracts, that they would walk away even richer by the Comex going down?
I know there's a money making opportunity in there somewhere...
According to Ted Butler, likely to be the leading honest silver expert in the world. JP Morgue is now long.
How can this be? Bloomberg just asserted the fact that gold will obviously go to $800 next!
Can you imagine living in a world where up was up and down was down? And good things made the markets go up and bad things made the market go down? Ahhhh....the days of wine and roses.
With all the reported physical shortages at the moment, can you imagine what would happen at $800!
Walmart would be selling "made in China" gold bars, maybe? (without the Warning labels of tungsten content)
Bars made in China are going to be pure gold... it's the bars made in the US that you have to be on the lookout for.
I'ts Bloomberg. "Nuff said.
Bloombrain only hires journalists that have had a lobotomy.
Good. Now gimme a beer, it's already 8:10 AM.
Watch out for a bull trap. What better way to decimate confidence in the metals than to let this rise for awhile to sucker everyone back in and then crush it again?
that works if you don't have all this physical leaving the warehouses....and people finding out about it. now, if they smack it down, people will just buy more.....
i know i've got a hefty cash reserve ready to walk in and buy with both hands at 900
900?? Youre not truly planning on getting any then, are you?
If you're waiting for 900, then I hope you get a great sense of pleasure of holding onto your fiat. Because you'll have it for a long time.
If it gets to $900, then "they" have fucked themselves royally.
Evil is dysfunctional...thats why 'they' are in this mess.
Ever heard of Hanslon's Razor?
Never attribute to malice that which is adequately explained by stupidity.
Hanlon's Razor is great.
"adequately explained" are the operative words.
it’s consistently wrong. Most people who do evil then pretend they didn’t know better and the gullible sheep believe it. That’s how we got into this mess to begin with.
a bullshit trap-eh!
many mouths are open and flapping and not saying much...
Yeah, kinda like you.
I disagree with the bull trap idea, as the retracement above the various MAs will support the bull case and all the stopped out paper traders will be back in long.
They had to let the price rise to slow the physical hemmorrhage.
Very interesting dilemma they suddenly find themselves in...
Their chief strategy for the financial system is "trial and error." Of course they didn't see the "physical hemorrhage" (great phrase btw) coming!
'They' will crash it to under $18,- and settle the comex default in dollars.
The high price of gold: death and destruction in Amazon mineral rush
http://www.guardian.co.uk/environment/2011/sep/26/amazon-gold-rush-price...
one of the many consequences you support for your precious
We are going to ruin the ecosystem any way you look at it. I would rather not be poor it's simple as that.
The idiocy of that remark leaves me speechless
Thank goodness, I hope it's permanent. :)
We all wish....
My maples are sourced from above ground nuggets. I have a signed certificate of authenticity from the guy who stubbed his Toe. So I'm good...
Don't you goldtards have to pass a minimum iq test to post here?
Why don't you get back to tugging on your ... PUD?
He lost his tweezers.
.
Yes, and the only reason you are here is because we let you cheat off of us.
Please remember to bring your #2 pencil next time.
PUD has already eaten his #2 pencil and is finishing off the Elmer's paste as we speak. I've a rose colored crayon I could loan him....
Don't you goldtards have to pass a minimum iq test to post here?
Do you get IQ?.
Mine came from melted Incan treasure - before I lost it in an unfortunate boating accident.
I'm going to check on that rock in my shoe, who knows!
People that own iPhones knowing that serf like workers in China are committing suicide as a way of getting out of their work place strike me as idiots as well. Any commonts on that Ms Pud?
yes, an honorable person knowing that should not buy an iphone.
they surveyed toyota prius owners and asked them about the economics of their car and why they bought it;
results - clueless and for image.
are you right, but in the wrong crowd?
tells the whole story-hollywood green idiots for vanity.
wish i had that much money to impress you.
a fucking joke-wake up dude...
And the aforementioned "honorable person" (what's that anyways?) would exactly achieve what? by not buying the phone?
PUD.. don't worry so much about the earth..its been here for millions of yrs
its going to be fine in the long run.. humans not so much...
and who knows maybe it needed plastic.
Apparently not speechless enough though...
At this point with 7 billion of us on this planet the only manner in which to live without having a negative impact on the environment is to live like a deer in the woods. So why don't you leave your computer, cell phone and all your electronics which all contain silver and do that. Go live in the woods like a deer.
the idiocy of your own remarks should leave you speechless yet there’s more trolling messages, nonstop from you. Do what you say and be speechless.
You keep posting that in every thread but .. do you want me to show you the deforestation for food people want to eat? Do you want me to show you what zinc mining does so people can drive their precious little Priuses around? Want to see soil and mineral erosion from intensive agriculture designed to grow the dumbest fuel we got (ethanol)?
Now lets consider the alternative, the South American governments realize that they can't stop gold mining and actually regulate it, add environmental restrictions to ensure as much of the woods as possible still stand, and use the tax money raised to pay for tree replanting and land cleanup. Which method do you think will be more effecting in the long run.
Please go hug a tree, it's not like we don't know that humans have an impact on the world they live in, but prohibition always makes things worse (see alcohol, drugs, etc). I wonder if you would be happier if the gold miners left the trees alone but went around stabbing people for their gold teeth.
There is a difference between willful impact and impact that one has no choice in. your argument is no argument at all
Easy to be a critic...difficult to be a creator.
So what's your idea?
(I didn't see the 'Don't feed the trolls' sign).
Neither is yours PUD. I have some friends in Hibbing. I invite you to come to MN so we can go out drinking with them. You can talk about your anti-mining views with them and see what happens. They are a bunch of DFLer's too so I'm sure you will get along just fine with them and that nothing really, really bad would happen to you.
http://www.youtube.com/watch?v=XDohyM_VnE8
And this difference lies exactly in what? Please, enlighten me.
MN. ha, nice spring we are having...
18 " of ice . 4/25 crazy mon, crazy...
global warming once again...
65 this weekend though!
aberration. I’m far north of you and we had barely any snow for the winter, in total (a few heavy days) and none is coming back here.
When PUD shows up, I just rifle through all the comments and down arrow him wherever I see him. Saves me having to read the same bullshit over and over and over and over. Makes me feel better.
Your answer is not an answer. Everything is willful impact. We don't accidentally mine zinc, we don't accidentally build large sludge piles in China or India when we recycle computers or ships, we don't accidentally strip mine the top soil of every thing needed for life, then add back phosphorus and nitrogen. There aren't a lot of farmers being clumsy with large barrel of Roundup they bought on ebay as collectible, whoops I again spilled my collectible poison over corn, I'm such a klutz.
We always have choices, and we sometime make good ones and sometime make bad ones. One day will make a really big one and aliens explorers will wonder how the fuck we managed to create wasteland only inhabited by self aware tamagachi or maybe one day we'll figure it out and learn to balance shit out.
If you want to rage at someone rage at the notion that governments have always made currency untrustworthy. If you trusted your fiat money, no one would care about gold. If you trusted a gold backed paper currency from not being cheated upon, no one would care about mining gold. Precious metals are a way to short governments.
And no, I don't know how to fix the long boom and bust cycle of revolution->republic->democracy->tyranny->revolution and its financial implications.
Here's an article from the same paper PUD posted deriding tin mining.
http://www.guardian.co.uk/environment/2012/nov/23/tin-mining-indonesia-b...
Damn! I knew all tinfoil hat wearing people are actually anti-nature!
Oh, wait, tinfoil is not actually made of tin? Never mind.
If we can convince him to stop buying CFL lighbulbs and lithium batteries, and thereby creating TOXIC waste dumps in his own hometown, perhaps he would be post less often...
We impact the environment to feed ourselves. That is just. impacting the environment when you do not have to is unjust. You do not have to support the horrific mining of your precious...you choose to with willful disregard of all its negative effects. Says perfectly what your character is composed of.
Unjust? It speaks to your feeble mindedness that you even associate that concept with this conversation. Is it just when a cat plays with its still living food even if it isn't hungry? Guess what, we could live off grubs and berries and maybe we wouldn't impact the environment to feed ourselves. Of course, 99% of the population would be dead, but that would be more just, right?
The problem I have with statements like yours is that they come from people who refuse to accept reality and assign ubermencht attributes to the human race. You refuse to accept that human are animals, and I don't mean that in a deprecating way, but in the biological sense. A species that doesn't actively seeks to expand and dominate the ones around it, is a species that is dying. As we've reached the point where we own the planet in nearly every sense of the word we have two choices: expand and get off the planet or die a slow and painful death. Resources really are a zero sum game when you are trapped in a close resource loop with a growing population, which is also why so called resource economies will never work. They assume that there will never be a sociopath or even a mildly self center asshole who will want more for herself because of simple biological drives wired over billions of years of evolution. The assumption that humans are different from ants from the standpoint of evolutionary drive is what gives rise to collage bull sessions by people who end up serving coffee for the next 10 years.
If you want to solve the problems of the world and save the environment, get off ZH and figure out a way for humanity to spread among the stars (while not getting eaten by xenomorphs). Not only would you save the environment but you would be a hero to the human race too.
NO IT IS NOT. The environment produced food for living things with NO material impact, as all living things were also food, even their waste was food for bacteria. Humanity changed everything with ALL mining and ALL over-populations from SLAVE ANIMALS. We kept them too safe, then boosted our numbers, thus starving many things of plants to eat as WE fed our animals, then overstuffing OUR mouths so we made way more babies than what nature would allow normally. The price for this imbalance is WILFUL damage upon nature. HUMAN SEWAGE does more damage to the environment than total mining across the entire planet.
no difference, no willful impact: all of this activity is without choice and without it, including gold mining, civilization would collapse faster than you can even dream of. Those gold mines are CRITICAL to civilization.
"A toxic mix of gold, greed and alcohol"
That's impossible. That article is full of shit just for that statement alone. I think I hit a Spotted Owl on my way into work today with my gas guzzling 4x4 truck. Didn't hurt the truck though thank God. Not sure about the owl though.
Paging AKAK
It's not that gold has become more valuable, it's that the value of the dollar is becoming less valuable. If you want to place blame, place it where it belongs, with the federal reserve.
while obviously gold preserves purchasing power/prevents someone from getting wiped out as could happen if holding nothing but fiat, gold also enhances purchasing power (if productiviity is high). More goods/services produced relative to supply of gold means prices go down in terms of gold.
Nice article on Guyana. Personally, I love it here. My miners work for a percentage of production, feed their families, build nice homes, send their kids to school, and enjoy a rising standard of living. There was plenty of crime here when gold was $300 an oz, that's the culture. Too bad about the American father and son, but we all know the risks. Assinine tight gun control laws are responsible for the sucess of criminality here though. Please buy gold, we'll keep mining.
And, fuck you very much, Pud
Yawn...
Pud, do you honestly think that mom and pop gold and silver buyers trying to preserve a little bit of what they have worked for all of their lives is causing this problem?
Pud, ok, you have been playing the same fricking tune all week, PLS go play with your PUD in a corner now!!.
You should be FAR more concerned about FukUSshima.
Could it possibly be that if we had truly free laissez faire markets rather than mercantilistic corporate/political elitism (essentially socialism) that the true costs of gold (and other) mining would would come to bear and also perhaps the artisanal miners would find healthier careers? Have you ever considered the possibility that globalism and global environmentalism via the UN Agenda 21 might be really playing to the hands of the global elites to control the works?
"I care not what puppet is placed on
the throne of England to rule the Empire, ...
The man that controls Britain's money
supply controls the British Empire.
And I control the money supply." - Baron Nathan Mayer Rothschild
"GIVE ME CONTROL OF A NATION'S MONEY AND I CARE NOT WHO MAKES THE LAWS." -- Mayer Amschel Rothschild
Source: in 'The Creature from Jekyll Island' p. 218
Looks like a multigenerational slogan - no reason why it can't work globally as well as nationally, is there? Why limit yourself.
PS: The Rothschilds are really into global environmentalism. You're not a Rothschild by chance, are you?
actually most Amazon damage is to clear space for farming, not mining
Thank goodness! Those little mine children will be able to eat tonight!
Gold, it's for the children.
quite the evil reply
You're the one that wants to starve children.
You never see stories of little kids down in mines jumping off of tall buildings, do you?... DO YOU?!...
EPIC … wish I could +100 that
Feeding hungry children is evil?
Perhaps you ought to set up a human hunt in these mining areas. Thin the population to a more sustainable level. That would be the humane thing to do. You know, rather than removing their only economic opportunity and causing them to starve to death.
But hey, libs gonna lib.
When it says LIBby LIBby LIBby on the label, label, label, they will steal it steal it, steal, it, off your table, table table...
I am going to send the Green Giant over to your house to beat you up...
Oh, cry me a river. I told you where you are, and that there are rules at this place, you should mind. This is ... uhm ... I promised not to talk about it. But nevermind, take off your shirt and shoes!
This is commodity schizophrenia at its best. Or worst if you were sucked into going short the precious...
Be a Whiz,
Buy the Phyz,
Kill the Paper Biz
Kill the Paper Biz
Buy physical gold and save a tree.
See PUD, buying physical gold helps save the environment.
Today is first day of settlement, no?
Ya. Three business days prior to the 1st.
Where have we seen this pattern before? Yes, we are going higher, much higher!!!
This time is different?
I love the smell of elevated gold and silver prices in the morning....smells like....VICTORY!
50cents is not a surge, sounds like silver doc. Price Rockets! Surge, Storms up Launches , Moon shoot ect...
10$ is a surge
50$ is a rocket up
100$ is a Moon shoot
.50c is just a burp
A gold full sovereign briefly available this morning on UK gold coin dealer site, now no gold again for many days in a row now
http://www.bullionbypost.co.uk/gold-coins/full-sovereign-gold-coin/2013-gold-sovereign/