This page has been archived and commenting is disabled.
Gold Drops Below $1400
After retracing 61.8% of the gold crash, spot gold prices have fallen back and are now trading back under $1400 for the first time in four weeks. It would seem more time is perhaps needed to enable the gathering of physical gold to fufill Germany's demands... (and cue, the death of gold headlines) So, in summary, we have had a notable increase in tapering discussions - Treasury yields have surged, the USD has surged, Gold has dropped, and credit has widened - all reflecting lower liquidity flow expectations; but stocks just keep going...
Charts: Bloomberg
»
- 32713 reads
- Printer-friendly version
- Send to friend
- advertisements -
Somebody is getting really really rich.
Hang on one sec...nope...not this guy. I am bearish, believe in the economic fundamentals in owning gold, and, not coincidental, completely and utterly on the wrong side of the global markets---Not just before, not only now, but for a long long time to come, I foresee.
Aside from all that, I AM looking forward to the new Blacklist show on nbc. I hope to find a nice appliance store to watch it. Life is good. Thank you Rogers, Schiff, zh (sorry brothers, but if you all weren't all going on and on about this arcaic 'truth' thing often referenced here I could be in bliss), and all the rest who say, money printing bad, honesty good. I say Phooey. From now on, in all things, there should be a shadowy, private, anonymous, criminal mystery body helping to 'coordinate' the 'effeciency' of it, and effectively destroy it, again 'it' being anything transacted in existence.
Midde men in every transaction. If I make a mistake, I 'print' or equivalent, my way out. United States of Zionica forever!
...and now, if you will excuse me....back to money losing...
this whole world, i have no clue what is going on.
all i know is that i will continue to add everytime gold falls to certain levels, because i am sure it will be 3000 plus in the forseeable future.
next level i add is 1350 if it gets there
said this in an earlier post, take it down for real, below $1,000, and do it now. i can't wait to see the fire works and scramble for physical at that price...
Bitcoin is up today...
Look at the JPM stockpile, and ask yourself is this price action, adding to or removing liquidity from the physical supply, (answer that, and you will understand the price action)....
I thought the chart back to 2008 suggested $1200 as a target but would be good to see a pro do a chart.
These cocksuckers suck.
Precious Metal holdings are a threat to overweening governments. And that is exactly why one holds them and hides them until those governments collapse or are overthrown. Otherwise those overweening governments own your ass in every respect monetarily. They can devalue your worth away through inflation. They can tax your land out from under you. They can seize your pension/IRA/401K etc. They can refuse to give you the money you have in the bank. They can declare the pieces of paper in your hand worthless over the weekend. They can do so many things.
What you must make them do is to laboriously try to find what they can not find. And if they don't like it, you can stick a gun up their nose and pull the trigger.
Now that is what I call being hedged.
The sudden scramble for gold in the East is the canary in the goldmine falling off its perch.
How soon before we get a new pricing mechanism for the trade of physical gold to obsolete the corrupt Crimex?
One should Not own USD...they might be the last domino, they will also be the biggest.
The central banks are not stupid. My guess is they push the paper price as low as possible then when they default they pay out as little as they can. All the while, physical is being removed from inventories. GLD will be 300$ an oz, the sheeple will declare that gold is bust and you won't be able to buy an oz of physical. Thoughts?
I used to have a dog, a Maremma, that I named 'Chappi"
~~~
pretty much this dude here
http://www.google.com/url?sa=i&rct=j&q=sheep+dog+breeds&source=images&cd...
I think I'll probably regret taking the red pill for the rest of my life...
Plese don't think that way and become like the guy in the Matrix that made a deal with the devil to go back into the Matrix.
As Jacob H. Huebert would say, "We have the truth, and in many ways the truth has already set us, free.
Is There Hope for Liberty in Our Lifetime?
Stefan Molyneux? Seems unlikely
The matrix is the pyramid
That's an interesting approach. A quote and lecture from a lawyer. A highly controlled actor in the pyramid speaking about desires for liberty. Liberty is wholly contradictory to the end goals of the pyramid and all of its actors. I'm sure you could have come up with a far better source and quote that would have far greater meaning, influence and legitimacy.
I thought we were past pricing gold in dollars. Do we not now price gold against the Dow?
Push it down, buy it up, set to gold standard.
Any questions?
As someone who considers himself to be an anarcho-capitalist, what does a "Gold Standard" mean exactly?
Is that something akin to where a "Government" sets what the price of Gold is, by mandate? Saying that it's worth $20.67 and can't move from there, until a president comes along and confiscates it, and then revalues it for the benefit of those that are controlling it's price in the market?
The way I look at it, only I can determine what the value of gold is for myself. No one else can determine that for me.
"The way I look at it, only I can determine what the value of gold is for myself. No one else can determine that for me."
I think you're confusing real market value with sentimentality there and one can't eat sentiment...
I see what you're saying and get you're point, but I was thinking more along the lines of the following...
If I go to look at a car and it's price is 5 ounces of Gold, it's up to me whether or not I believe the car is worth 5 ounces of Gold. Not what the Gov't might be saying the Gold is worth.
When it comes to food, yeah, that might be a different story if I really am starving. I couldn't eat my Gold or sentiment, yes. If I really was starving I'm sure I would trade whatever Gold I had for food. But that's probably what it would take, starvation, in order to overcome my sentiment.
I hope that helps.
The modern day gold standard could look like this: Gold and silver are the money, both in coin and electronic form. You make purchases with actual coin or debit cards, and everything is denominated in milligrams of gold or silver. Copper pennies for rounding out, as well as nickel nickles. Your funds are managed at a secure site where you have a physical claim on X milligrams of each metal, with the stock regularly audited. As you make purchases your account gets adjusted down. The mint is open to gold and silver, so that anyone can redeem their metal, in any form, for coins or debit card bumps. Productivity finally means falling prices, government can't create money from nothing so it shrinks to constitutoinal dimensions, and in twenty years we're all working 20 hours/week if we want to get by, 40 if we want to wallow in wealth.
Definintion of a Gold Mine: "A hole in the ground with a liar at the top." - Markl Twain
Definition of a Bull Market in Stocks: "An ocean of fake liquidity with Charles Ponzi at the top." - Bucky Schwartz
Definition of Bug-Eyed Losers: "Gold bugs claiming manipulation while their maxed-out credit cards can no longer build their "stacks".
So in order to make a repatriation shipment they drop the price, buy some and send it Germany? Genius...
Patience Grasshoppers.
http://arstechnica.com/tech-policy/2013/05/feds-seize-money-from-top-bitcoin-exchange-mt-gox/
The government's war on bitcoins has begun.
As a pecentage, what is the loss? How does this compare to other investment and monetary sectors?
I remember when gold dropped down from 950 to about 750 and eveyroe panicked. i called my dad who said now is the time to buy More so I did load up (true the GLD not phys sorry) and silver plunged to about $9.55...loaded the truck with SLV.....
My Dad, he's a smart guy. I think I got my "Cheapness" from him, learning to Buy low and Sell high.....it works.
Story on Drudge: DHS shuts down DwollA ACCESS TO Mt Gox
<---- Say you got a $200k windfall. Do you... (a) Pay off the $200k mortgage! Or...
<---- (b) Buy BTFD!
Assume that you don't spend it on stuff or invest in other assets.
Personally, I'd choose (a). Both take fiar/debt out of circulation, but I can sleep better in a place I own free & clear (have prop. taxes either way). If I lose my job, not having a mortgage (no debt-service payments) is a darn sight more useful.
kirk
easy answer.
If you believe that hyperinflation is in the near future (it, or something like it IS) you do not pay off debt, you wait for it to become earier to pay....after all that is what the Fed is doing for the USG...and you apply cash to 'real' things...I suggest physical gold.
Freegold explains this drop in price. NOT ONE OTHER THEORY DOES!!!
Splain that Lucy!!!
In 2010 FOFOA expressed the idea that 2013 could be the year the gold market collapsed.
In December 2012 FOFOA observed that support for the gold market had been withdrawn (as best we could observe....they don't come out and announce this stuff).
It is your money but hey...don't you think you should check out his ideas.
In February (because of FOFOA) I bought DGLD (3x Ultra Inverse GLD). My 'losses' from the drop in 'gold' prices has been offset by the increased cash price of the DGLD.
Correct thought leads to correct action plan leads to correct actions.
What will you do when gold hits 300 and the GLD closes? I know what I'm doing. I hope you do too.
OH yeah...but do you really think anyone will sell you gold at even $500/ ounce?
Another discount! I must be on comex's good side today.
Now it is happening as the speaking of Jon Nadler was having predictions. The caution he was having people to be was a bone they were choking.
Gold is going to 500. CNBC told me so this morning.
The PTB are losing control. Things must be terrible behind the curtain. There are two options: (1) They don't know what else to do so they are going to do more of the same; (2) A third party may be forcing their shorts to be multiplied so that the third party can acquire more cold; (3) They are looking to cover all their shorts (or at least dollar wise break even) and then go long because the gig is up.
Gold is insurance against government stupidity. You can never have enough insurance.
This is like the old days when I started stacking and just didn't give a fuck about money... and silver and gold were dead and practicly given away for free. I just wanted to stack a pile gold and silver. Didn't care about making money. Then I got corrupted when the price got high and I got drunk on imaginary clown dollars dancing in my head. I'm glad they fucked my shit up so I can get back to my old self and not give a shit about clown money again. I just want silver and gold. That's all I want.
I saw a kilo of gold trade at an auction recently for under $1000 per oz. that's where this relic is headed morons.
Did they aution off the Hope Diamond at the same estate sale you were at for a few hundred as well? Nobody autions off large gold bars at estate sales. Your full of shit.
hope and change diamond..?
In the past in east europe under communism, grocery prices were kept low, but the shelves were empty. If paper spot is low and physical is scarce, then market is not at demand supply equilibrum.
Mr. moron Gainesville coins has all the gold you could possibly want one day delivery.....
http://www.gainesvillecoins.com/category/489/gold-bars-and-rounds.aspx?id=489&cat=&orderby=&sortdir=asc&graphicalview=False&maxview=15&filterby=showall&page=2
FUCK THE SPOT PRICE OF GOLD / SILVER FOR FUCKSAKE IT MATTERS NOT Fucking Bingo!!!!
The kill switch
KFS=Keep Fucking Stacking as we decimate these fuckers in the toilet paper gold. MUHAHAHAHAHAH
Let me get serious, we the physical are going to kill their plan as there is no physical to deliver worldwide empty vaults of gold ,,,just ask Germany all major banks are settling in CASH I wonder why the fuck they would do that and undermine their own credibility explain??????? We all know the answer to the question ZH folks in the wilderness.
Something's up because it concerns China taking very little physical delivery so far this month compared to other months.Can't they take delivery of large quantities?It can't be that the Chinese just stopped buying.Funny it happens at the same time as this debt ceiling situation and the other news that pissed off Republicans.