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Gold Surges
Nothing like the smell of a fresh Eurozone (thank you Greece!) crisis in the air, to remind everyone that in an insolvent world, where every counterparty is suddenly once again suspect (and collateral-free), there is only one asset class that has no counterparty risk (although the distinction between paper and physical gold is still a far too complicated lesson for most) - gold.
And headlines like this:
- VENIZELOS SAYS GREECE, PASOK PARTY DON'T WANT ELECTIONS
but with the following caveats:
- VENIZELOS SAYS PASOK DOESN'T FEAR ELECTIONS
- VENIZELOS REPEATS CALL FOR MEETING OF COALITION LEADERS
won't help.
It would be greatly ironic if it the Greeks took three years of humiliation by the Eurozone largely stoically if with the occasional riot, but it will be the cancellation of public TV that breaks the Eurozone camel's back.
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The same will be true for the US: The only thing that will get American's fat asses of the couch will be to threaten their cheese burgers and TV remotes!
I'm actually interested in this subject... if the masses will be able to cope with it when they are unplugged from their tv's and sugary foods? My guess is that many will not be able to cope with it and take the easy way out. At least when someone knows they are a drug addict, they can somewhat prepare for the come-down and crash. Quite different if you don't even know you are a drug addict.
Without Soma, all bets are off.
GOLD!!!! It's what's for dinner (once confiscation begins).
NAKED SHORTING
SEC cracks down on CBOE ... i thought this was legal??
http://www.cnbc.com/id/100806985
... "surges" 12 Dollars? Wow!
I think it will continue to surge at some point after the whipsawas are finished, even if from a marginally lower low.
Check out the live chart: http://www.pmbull.com/gold-price/
Look at recent short interest. One of these "mini-surges" is going to turn into a face-ripping short covering rally.
The thing is, all the MoMo traders are on the wrong side, expecting a continuation of recent declines.
They won't cover until after it is clear that what they thought was a countertrend rally continues to move higher.
So we will get surges like this, and amateur shorts will continue to poo poo the pops, or short it again. They will end up covering at some point, at 10-20% higher.
Maybe JPM losing 60% of their eligible gold overnight has something to do with it?
http://www.cmegroup.com/trading/energy/nymex-delivery-notices.html
Let's face it, how many americans could actually survive 1 week without electricity and running water? Maybe 5%?
people in new orleans did just fine
O RLY they did just fine....nevermind all the deaths and disease and mayhem, and that was WITH pretty quick although not perfect food and water supplies!
Sorry, I didn't see it the same way you did...and besides normalcy was only a county away, completely different than what we're considering here.
Thats because they still had running water.
9 meals from anarchy.
https://www.youtube.com/watch?v=SUbKin-zrj4
I don't know what %, but the minority for sure. Considering the moral high ground of new york featured people who were dumpster diving literally 1 day after sandy, it is fair to say that a protracted crisis will feature death, violence, starvation, rounding up of citizenry, and potential death squad dispatching.
It is embarrassing to think I'm regarded as the wacko for having a month's worth of food, a few jerry cans, a generator, extra propane, and a couple of water bobs to store water in the bath tub. I've been asked countless times why and I just say, if there is trouble, I can't count on anyone but myself.
One easily digestible rational that I like is telling folks is if there is some sort of disaster (I usually cite to non-TEOTEWAWKI stuff: earthquake, power outage, etc.) then by having a "deep pantry" we can free up resources for other folks that might need the help more - like older folks and the infirm, etc.
Tends to get a better response than talking about the collapse of Western civilization or the Zombie Apocalypse.
Within the right community, much, much longer. When Nashville had their flood, I went up there to help out, and it was pretty incredible to see just how much people were helping eachother out with food/clothing/shelter/etc., and that was without really any support from the Red Cross at all (really, apart from my construction knowledge/work effort to help strip out the flooring/drywall to prevent molding, there wasn't much for me to do).
And most of these folks weren't correctly prepared for a disaster event, it just kinda worked out, with again some pretty impressive efficiency/coordination. Lots of church-goer help in particular.
all the talk of revolution and we gotta do this or that, and the grand "WE" will prevail nonsense on the net i've read for the past 7 years and it all comes down to TV. just like i once implied. The ONLY possible way I thought people might revolt is if one day i saw a tv at the curb of every home as they cast off the yoke of propaganda CIRCUS, SPORTS AND ADVERTISING.
Not quite what i envisioned, but that oughta learn our superiors. Cable tv packages MUST remain affordable and in play. You hear that comcast?
quit hiking my bill monthly or i might cancel it and then who knows what might result.
game of thrones, borgias, hockey, colbert must not be allowed to be interupted.
i now return you to your regularly scheduled programming.
besides, i gotta go, reno 911 repeats on comedy central right now!
TV is obsolete. For the old fashioned and "un-cool".
Toss it out (We have not had one in the house for 4 years), the net will provide.
My best guess is most will be dead within 8 weeks.
Some will suicide but most will die from typhus dysentry, and mob violence
before falling prey to third world illnesses we no longer have immunity to.
Most folks, even many prepper types, fail to understand the importance of sanitation during a crisis. If the sewers ever stop working - disease and polluted water will likely become the number one killer.
I would estimate at 10% would be dead within a week, due to lack of medical care, accidents, violence and the inability to find clean water. that percentage would rise to 25% within two weeks as an "everyman, woman and child for themselves" mentallity takes over and a semi-feudal state takes hold. Given pandemics, weather and whatnot, we could be looking at a 50% mortality rate within a month if everything were to break down. No power, no web, no fuel, food or clean water and few people with the understanding of how to not take a dump where they need to live.
Fear, Paranoia, Greed would all take precedence except in those conclaves/family units/areas that banded together early and covered each others bungholes. Preppers would survive but the Amish/Mennonites would thrive, until the gangs descended on thier communities.
Hope it never comes to this, but I have to wonder if shows like Definance, Revolution and Game of Thrones isn't trying to send a signal to people.
Sadly, your prediction would prolly only apply to us.
As the tsunami in fukushima proves, your prediction would not apply.
They didn't riot there, very low looting/crime etc. They came together to work together, our culture will not be anywhere near as civil.
And what is "the easy way out" ? Bullet in the brain ?? Outrage and revolt ???
Enlighten me. IMHO, there is no easy way out. When the plunge comes, life will never be again what we experienced in the last 20-30 years. When it ends, there will be pain for the masses, there is no other way, lots of pain, and lots of sorrow, and death for many (all eventually, but some definately sooner than others).
oh stop feeling so superior to the "masses"
gold is going up not only on the latest crises that is VISIBLE on TV,
but also due to the fact that the Cartel is now running out of ammo.....they simply do not have the gold, and it is dicey to try to
ram things down further....
since the dopey "masses" did not run and hide during this latest manipulation but rather turned the tables on the boyz and have been buying with both fists.
they try another bashing, and its going to be all gone. JPM lost something like 60% of its inventory last night .........
want to try to make it lower?
make my day, JPM, make my day.....
All this plus japan and US 10 yrs treasury bonds market could be the beginning of the awaited game changer that will finally put under the spotlight how INSOLVENT we are and shoot pm's to the moon...
moar updates on volumes and wholesalers premiums:
http://zysites.com/silververitas/
Oh no....
no more "Dancing with the Zorbas!"
The public broadcaster only has about 5% market share, doubt most Greeks care, except those who work there. Kinda like NPR, who really cares?
Big Bird cares.
"Democracy Now!" is a pretty good show. Amy Goodman's been all over the undeclared drone war, targeted assasinations, and this NSA crap.
(of course, I think technically, DN! is produced by Pacifica Radio. . . )
Big Bird rakes in about $240K /yr if I remember from the last POTUS debates. So sure, he cares a lot about the Public Television subsidies.
The pedophile Elmo muppeteer cares.
i thought he was "aggressively" gay? anywho...don't mess with Elmo either cuz that guy don't work there no more. "that Muppet fought back and won."
Maybe in prison Bubba will teach him how the inmates play "Tickle Me Elmo."
Nothing to do with EZ its CHF and JPY driven.
And its harldy moved (yet)
ZH trying to hijak news and present it in a way that is untrue and is just pathalogial EZ bashing..
Gold is moving to the FX market. Thats all
When gold retraces most of this (if USDJPY turns around) how would that be explained in EZ context? and why isnt EUR selling off?
why is EUR trading opposite of risk?
ZH is almost tabloid nowadays.. people like Pension Partners idiots quote ZH...
Respectfully, I'll put ZH's track record up against anyone else’s.
Wanna bet your assets on it? You can keep your liabilities.
-30-
My arguemnt is validated by ZH readership not approving of it.. and approving more so of yours, which actually adressed nothing i had said.
:)
I'm sure it would also have been validated had you found agreement.
You know, one of those "empty" kinds of arguments that convey nothing.
perhaps read what i said and look at a chart of said asets relationshp with one another.
Your comment is more stupid than the previous...
I'll give you +1. ZH does tend to sensationalise lately.
And...(PAPER) GOLD "SURGES"...from @US$1384 to @US$1391....(yawn)...
We love our gold here; no doubt about that.
I wasn't commenting on the validity of your original argument, only the foolishness of your biases, which flow whichever way they need to to make you feel smart.
so, you're posting in the comments section of a tabloid..?
"Stand up, or be set up"
--Marcus Aurelius, Meditations
All the gold which is under or upon the earth is not enough to give in exchange for virtue. -Plato
There will be no end to the troubles of states, or of humanity itself, till philosophers become kings in this world, or till those we now call kings and rulers really and truly become philosophers, and political power and philosophy thus come into the same hands. -Plato
" I am not an Athenian or a Greek, but a citizen of the world. " - Socrates
Aristotle's Qualities of a Good MoneyAbout 2000 years ago Aristotle defined the characteristics of a good form of money. They were as follows:
http://www.gold-speculator.com/gold-investing-101/4476-aristotles-qualit...
"a system of weights and measures." that was also in the US Constitution. http://www.heritage.org/constitution/#!/articles/1/essays/43/weights-and-measures i agree with your argument here...just had it today. People must have an ETHICAL framework as well if there is to be a actual "gold standard." in other words your gold must be ASSAYED....but this is done privately now! the Government does have "consistency" when it comes to coinage (it all weighs the same, is the same shape and size, same metallic content--which to me is a very big deal even though the money has been completely debased and continues to be) but if we were to go back to a gold standard...this "ethical framework" would still need to exist as well. TALK ABOUT A CHALLENGE. the last thing you want in this world of course is an ethical framework to begin with. EVERYTHING right now runs on nothing more than lying, cheating and stealing. PROTECT YOUR PHYSICAL PROPERTY BECAUSE THAT'S WHAT'S NEXT.
" I am not an Athenian or a Greek, but a citizen of the world. " - Socrates
I thought obama said that.
Could you imagine if cable TV was shut off in Amerika?
"Hey! If any of you are looking for any last-minute gift ideas for me, I have one. I'd like Ben Bernanke, the money printer, right here tonight. I want him brought from his happy statist slumber over there on 20th street and Constitution Avenue with all the other rich people and I want him brought right here, with a big ribbon on his head, and I want to look him straight in the eye and I want to tell him what a cheap, lying, no-good, rotten, four-flushing, low-life, snake-licking, dirt-eating, inbred, overstuffed, ignorant, blood-sucking, dog-kissing, brainless, dickless, hopeless, heartless, fat-ass, bug-eyed, stiff-legged, spotty-lipped, worm-headed sack of monkey shit he is! Hallelujah! Holy shit! Where's the Tylenol? "
I'm not entirely sure I get how you really feel. do you care to elaborate a bit?
I cancelled Dish last year. They never sent the shipping boxes to return the receivers, and all of the worst channels (home shopping, 70s game show channel, etc...) still work.
It's kinda like the next version of broadcast TV.
Dish does that to every customer who cancels. You have a time limit to return the boxes, or they charge you a year's subscription as penalty. They will send the boxes a month late. I crawled up their ass, called Better business bureau, and a few other consumer advocates. I got my penalties returned, and a little more. So, they called me and wanted the extra $26 back. My reply: "So, you've made TWO accounting errors??" Never heard from them again.
Dr Head, wish I could give you more than 1 up.
What do you really think?
easy there Clark
That was short lived. Man I'm tired of protecting my PMs. From my wife.
Ain't it the way! Mine is always whispering "sell, sell, sell...!" even with today's ridiculous "prices"...
Women? Overly practical, not much vision. Nurturers, not hunters. They're hardwired to worry about what to feed their kids TONIGHT, not next week...or month...or year...
That's because YOU are responsible. If they sell the gold or silver today, and they enjoy spending the money, then it will be up to YOU to provide next week or next year.
Sorry boys but this is a "role" issue not a "gender" issue. I am the wife. I am the breadwinner with hubbie home taking care of the kids. I insist on the gold.
Feels good....really good. Woot!
2 years is a long time to be selling anything. Time for a regime change...and for the silver ZH brotherhood to rise once again. Bring back the talking bears!
FINALLY my unicorn which sharts gold dubloons is paying off!! HA HA fuck U Bernank!
Way past due on that Cdad,
All we have seen since May 2011 is gold and silver advocates (and producers) getting pounded into the ground and left for dead.
The enemies of PM's have had quite a run. I look forward to seeing them burn.
+ 1
History is on our side, Bay. Patience is all that is required to held our PMs. We will win.
"NEVER GIVE UP! NEVER SURRENDER!" (~ "Galaxy Quest")
That is actually a Ranger motto.
No more "Greece's Got Talent" will do it every time.
But they have short memories.
And there isn't much REAL gold left anyhow...
And note how hard it is to find fractionals now...
How many do you want? The LCS has tons of them.
meh - still below 1400
will party a little bit if it can go back to 1600 again :) if it is below this mark i keep bearish stance.
Gold surges a lot. I will be impressed at $1000/oz or $2000/oz.
Storm in a toilet bowl. Let's see it rise more than 3% in a day, or go up 1% a day for 10 days. Then it will be something to talk about. This is just normal(ly increasing) volatility on paper's path to zero.
I've got a feeling when gold is going up 10% in a few days the last thing anyone will be concerned with or even able to do is watching charts.
Yes, keep an eye on availability of physical. Day to day price movements of paper gold mean less than most people think.
This is the paper-determined "gold price". Ironically, I'd love to see GLD entirely emptied...
This is the paper-determined "gold price". Ironically, I'd love to see GLD entirely emptied...
My guess would be it's empty now and has been.
Pasok puts 'Ain't Skeered' bumper sticker on campaign vehicle? NICE!
The future of the PMs, especially silver, will hinge on supply, or lack thereof, when faced with the continuing demand that will go paraboloic when the Western sheep wake up.
For gold, just wait until the owners decide not to sell. Once the physical gold is on strong hands, and the public wants in, then watch Freegold in action.
So what, it's up a few bucks, I would hardly call this a surge.
I would call this "beating a dead horse" instead.
Wake me up once it's over $1900 again!
lol i know..it's still thirteen something. My avg price is 1550 since Dec 2010
Gold is not a dead horse its just got a hugely fat jockey setting astride it.
wait for crossing 1425
Funny thing about silver and gold is that these surges always get dwarfed by the takedowns :-/ You get a 2-3% surge and then you watch a 5-10% smackdown.
My thoughts exactly!
Typical bear market action until the bottom is found.
When the daily chart is up like this and looks like a step on a staircase, watch your ass for bears!!!
so did oil
Don't be so excitable. It's up ~1% and stutter stepped on hitting the 20 Day Moving Average. It really has to break above 1430 before it's really considered a surge.
Nothing more than a 2 1/2 day sale for non Chinese buyers.
I look forward to the day that TPTB loses control and every smack down attempt fails.
"ZH hits surge after gold-surge post" is more like it.
Not worthy of ZH, unless hit-manipulation has been added to all those market manipulations.
Perhaps the HFT algos have added ZH to their reading list?
this closure of the state TV channels is a major mistake by government; even under the Colonels it never occurred.
What is the EZ trying to do to the Greeks?
Out of the frying pan into the fire.
A surge of all of $14! Oh be still my racing heart. Only about 30 more such surges and we will be back to where we were several years ago.
Two potentially key observations/questions re: gold move today:
1. Haven't seen too many views here re: China gold etf, any thoughts on the impact it will have?
2. What up with B. Quick? Buffet prefers blondes or,,,,Having not had the pleasure of C'iN B S, in awhile, it was a bit of a shock is all.
Platinum bitchez!
Imagine you are a Japanese car company executive. It's Tuesday and you are trying to decide if you should send a shipload of cars to the United States. You check the Yen/Dollar exchange rate and see that the cars can be sold at a profit in the United States at a given price. You load up the cars. The ship sails. Now it's Wednesday and you check the exchange rate and it has changed by 5%. Now you have a problem. If you sell the cars at the price you had wanted now, you lose 5% (possibly your whole profit margin). Or you can raise the dollar price 5% and possible be left with unsold cars.
Some of us are old enough to remember fixed exchange rates (1950's and 1960's) when exchange rates of large countries barely changed from month to month. When they did it was labeled an exchange rate crisis. Now we have a crisis just about ever day. No way to run a railroad much less the world's economy.
What is needed is a common currency. But to have such a thing you need to get the politics out of it. No more "Abenomics" trying to cure things by manipulating currency. And the best way to do that is by making all currency commodity based and the best commodity to base them on is gold.
You can't have a common gold-based currency because every currency is a promise to deliver gold, and not all promises were created equal.
jtlien,
"what is needed is a common currency".
Are you trying to be a comedian. See European common currency.
we few, we happy few, we band of silver holders . . .
"Gold Surges"????
Methinks ZH may have spoken too soon.
Gold will go to $900 before it goes to $1800.
Take that to the bank.
you spelled GLD wrong.
Nice exaggerated vertical scale......
almost as nice as the <1% "surge" in gold prices.........
slow news day?
Gold surges as .....US Dollar tanks - again.
http://bullandbearmash.com/chart/spot-dollar-climbs-early-falls-close-open/
The markets are falling as the USD tanks - if the USD climbs back, the US indexes are in big trouble.
The Euro, Yen and GBP are all that hold the USD down - let's how long this works for.
yeah that's a 'surge' alright. up almost +1%... while down -17% YTD.
@ZH - What blatant propaganda to feed the spiderbots (google-bombing); gold hasn't surged if you zoom out to daily or any other macro timeframe.
ZH is just posting asinine analysis on a small timeframe green candle.
Edit: nvm, just read other posts and the sentiment seems to agree that it's a bullshit article to spike their page-views.
i love those golden spikes
This is the corner that they have been painted into. Give the people free TV, and show what is happening in the world, or cancel TV, and risk having the people wake up from their TV induced stupor.
Either way, this is going to get messy.
To be honest in the short term I could do with gold being lower (much lower).
There is never a cartel raid when you want to lighten JPM's vault just a little more.
More investors running for Safe Haven Hard Assets looks like.
Wait, I don't get it. Bad news are good for gold now??
I thought all news are bearish for gold, no matter their content. I must have missed the last memo.
Gold was stronger today- the monkey hammer shifted over to the little white whipping boy again.