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Massive Sell Order Takes Out Gold Bidstack, Sends Metal To Three Month Lows
In what world is it rational to decide that dumping 800,000 ounces of notional gold into the London Fix (or COMEX open) makes sense? In the space of 4 minutes, almost 2 million ounces notional were flushed into the gold futures markets dumping the price of gold to 3-month lows.
This is the 4th down-day in a row and yet another "spike" around the open/close that regulators remains ignorant of.
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More cheap gold for the Chinese, Indians, Russians, & Turks.
You can always count on radicals giving away real money for cheap.....they don't know any better.
the regulators are not ignorant, they're complicit!
Q - "In what world is it rational to decide that dumping 800,000 ounces of notional gold into the London Fix (or COMEX open) makes sense?"
A - In Bart SHILtons world!
"Concentration is the litmus test for manipulation." - Ted Butler
The GRAND SCAM To Protect The PAPER usd Fiats, CONTINUES...
C O N F I D E N C E !!! I Say...
“Whenever destroyers appear among men, they start by destroying money, for money is men's protection and the base of a moral existence. Destroyers seize gold and leave to its owners a counterfeit pile of paper. This kills all objective standards and delivers men into the arbitrary power of an arbitrary setter of values. Gold was an objective value, an equivalent of wealth produced. Paper is a mortgage on wealth that does not exist, backed by a gun aimed at those who are expected to produce it. Paper is a check drawn by legal looters upon an account which is not theirs: upon the virtue of the victims. Watch for the day when it bounces, marked: 'Account overdrawn.'” - Ayn Rand
it puts the lotion on the skin
Take JPM at their word. They are trading for clients. The main client being the Fed. It's perfectly legal so the Regulators can do nothing. The ESF can legally "Intervene" in any market, antwhere.
Perhaps, unfortunately, "Don't fight the Fed" remains prescient??
BTFDYFI
Thats all? ONLY 20 BUCKS?
they sold the whole COMEX inventory and all were able to achieve was only 20 bucks ... well if this is the price of a victory, i am not sure how many such victories can they withstand .... good luck pal ....
And OTOH, buyers were ready to step in and take ALL they had.
Because there are buyers READY to buy.....
These types of events reinforces my belief that we are onto something good. *
* Hint of sarcasm within.
if you can't stop those manipulators in the "market", you can stop them in real world, e.g. shot them dead, burn their building, rally, revolution, etc...
You assume the manipulators are organic biological entities - maybe skynet has been running things already handing down orders to human messengers which run our shit - you know like the prisoner
You assume the manipulators are organic biological entities - maybe skynet has been running things already handing down orders to human messengers which run our shit - you know like the prisoner
"Real" inventories (to the extent that they are accurately reported) have been steadily leaking after the huge drops we saw earlier in the year, and are now solidly below the 7 million ounce level. There is less than $9 billion USD paper market value allegedly left of physical gold.
@hedgeless_horseman
I did, starting at $1900. The problem is, the CB's and BB's are clearly in control and can manipulate this market when and as they see fit. I know this is the psyops result they want to achive, BUT they seem to be winning? The manipulation gets more and more blatant and obvious but they obviously don't give a shiit. They can operate with total impunity.
So why/when will this cahnge?
They can only do this while physical metals are still available. Once the physical supply dries up, the paper game will be over. Some might say that there'll always be suckers willing to buy paper and believe they own the real thing and that's true but I don't think that matters. It will be those that want to hold physical that will be the driving force. Fundamentals support higher prices so once the excess 'supply' is taken out of the market, it'll be game on. Until then though, I don't see why they won't be able to contain prices as they have been doing so effectively.
"they seem to be winning"
They have been successful in reducing the USD price of purchasing an ounce of gold. The deep thought here is whether that constitutes "winning". Think about the global move away from the USD as the reserve currency of choice. Are these coordinated price beatdowns a show of strength, or weakness/desparation?
http://research.stlouisfed.org/fred2/series/BASE?cid=124
Does that look normal to you? Does that look like "winning"? Can you say with a straight face that currency protection isn't critically important given that fucking absurd, yet actualized information?
There isn't much room for them to dump it more. There's strong support at about 1220 or so and this dump didn't have much impact. Looks like time to buy in.
It has always been time to buy, Monsieur Fred le Mort.
Some times just takes less toilet paper than others.
It's KruggerMan! Able to burn down tall stacks of Fiat with his shiny lustre!
What a great summary of the treachery that's being carried out in full view for everyone to see.
i do not get the point really ... it only subsidies the buyers at low prices at the expense of Joe Sixpac ....
otherwise all that nonse of gold being a barometer , canary etc. is just nonsense;
anybody who is anybody doenst need a thermometer to see the patient is dying, all you got to do is to look at how much printing is going on and you dont need gold or bonds to tell you that
the issue is not price.
it is acquisition of physical.
the price action simply keeps the masses ignorant while the last of the metal is distributed.
Walter was wrong. The chinamen are the issue, dude.
other than the daily gapping, the market has been functioning normally
fresnel lens
http://en.wikipedia.org/wiki/Fresnel_lens#Description
deliberately-introduced discontinuities make a curve into a nearly straight line
gappy price = fresnel "market"
.
What I don't understand is how, with such regular obvious raids and apparent control of the market, PMs ever go up and how they were able to have a 10- year bull market and why they don't just dispense with the pretense and mark it down to zero already.
Because that's how the system sucks in the gold off the streets when it needs it. They allow the paper price to elevate to attract sellers, and then all the " we buy gold here shops" open up. People get desperate and turn in their gold and it makes it's way into the system. After that they just manipulate the paper price wherever they want it to be.
~"They allow the paper price to elevate to attract sellers, and then all the " we buy gold here shops" open up."~
You mean like Goldman Sachs.
The local malls here (upstate NY near Lake Ontario) have not one, but sometimes two or three freestanding "we buy gold here" carts. A chair, a digital scale, and a cash register. That's it! And they must be getting gold because they are multiplying like cheesepopes.
b/c they must buy to cover
Really..., perhaps that is the most confusing part of all of this. To me , anyways.
I asked those very questions. Let me help.
There was not a concentrated effort to stop gold until it reached the 2000 level. Prior to breaking that barrier, the plunge protection team realized that if people fled our asswipe currency- they would land on gold. Gold is also a pretty good harbinger of inflation also- so the PPT/bankers had every incentive in the world to drive gold down. They have been ever since.
So they have found a level where the producers can produce, the collectors can hoard more, and everybody is happy. It's been sideways at this level for quite some time.
+100
It makes sense...
absolutely
the median cost to produce gold is $1200-1300, and they dont want to put the miners out of business - they want the supplyto come to them
remember, when they flip the switch, TPTB WANT gold to rise as much as those that are awake to and reject the system
the higher gold goes after the reset, the more it can hedge against hyper deflation
if they reset and gold stays at $2k - mass deflation occurs. Setting gold at $30-$50k will act as a replacement for fiat bubble prices - and will simultaneously constitute YET ANOTHER mass transfer of wealth from the sheeple to the elite.
They didn't start printing money outright until 2009. They didn't clear all the bulls out of the paper market until MFG.
Those are the two events that have allowed them to take full control of the paper price.
Let them take it to 0...I'll still buy, because there's nothing quite as nice, as the feeling of "real Gold" in your hand, wouldn't you agree, Cypriots?
The 'scare tactics' aren't working for most buyers, and we'll keep on buying!
It's not most buyers they are concerned about. It's the majority and their opinions they are trying to manipulate.
well said, Mr. Croesus. I can see by your avatar that you are toit. Toit like a toiger.
On a more serious note, Croesus, I don't view any PM purchases I may or may not make, (Fuck you, NSA), as "buying". I view the transaction as a transfer from one currency to another. If I did engage in such an exchange I would be changing from a paper fiat debt-based currency to a counterparty-less metal one. (Fuck you again, NSA!)
@ Theosebes Goodfellow:
Indeed you are correct, I am toit like a toiger! Pancake a Schmoke?
In all seriousness, your message deserves 1,000,000 points, at a minimum! If only what we knew was common knowledge.
I second that, FUCK YOU NSA!
With the advent of Obamacare, this means that "Israel" will now have access to all of our medical records, too.
NSA 'routinely' shares Americans' data with Israel - Snowden leak
"The NSA regularly shares raw US intelligence data with Israel without even removing information about American citizens, according to the latest revelation published by the Guardian. The report is based on a document leaked by Edward Snowden."
NSA and Israeli intelligence: memorandum of understanding – full document
"Top-secret document shows how intelligence being shared with Israel would not be filtered in advance by NSA analysts to remove US communications"
Goldman/JPM/HFTville just taking advantge of a blind and hobbled sec. Surprised?
Sounds like a good buy opportunity to me!
blind and hobbled because of the shutdown? LOL
You expect this to stop when the faux "shutdown" ends? Proves the CFTC/SEC are non-essential and need to be defunded like the DHS/TSA.
...and for me.
"dumping 800,000 ounces"
Right, while Entire
Comex REG Gold Inventory available for Delivery is 760,000 oz.
So, they are selling what's not available. What a fraud.
Just an entry on the keyboard.
Fat finger. They will settle for cash.
Yeah. CME Group was declared Too Big To Fail. They will get the cash from the Government...yeah...oh...the Government is shut down?
Yeah well they will reopen and raise the Debt Limit so they can afford to bail out CME Group...er...Wait...What do you mean that they are not going to raise the Debt Limit? What?
So just where do they get the CASH to settle?
(And if Jim Willie is right about the Breakdown of the Interest Rate Swap Derivatives Market in July...LMAO)
LMAO. Let the whole damned system Collapse and burn.
and for the personal accounts of the Big Bankers and "Friends", includes Politicos
"More cheap gold for the Chinese, Indians, Russians, & Turks."
And me, and all the rest of the 'reality conscience' people.
"More cheap gold for the Chinese , Indians, Russians, & Turks."
And ME!
Lagarde on the sell button: she learned her trading techniques from Blythe.
This isn't funny anymore.
I hold gold, and try to add when I can. However, I get my salary in a USD, and GBP combo.
I don't like it, but that's the way the world works right now. Now, the USD is very performing poorly against GBP for a while, and my gold is falling in price. Food and petrol is getting more costly (but these bastards tell us there's no inflation).
What now? It is all very well saying buy gold whilst its cheap, but that's for the long term. What now, for the short and medium term, when water and electric bills, and council taxes and mortgages come in? Shall I dump gold too?
All this gold will rise because the default is coming isn't true.
There is no default and there will never be a default. How can a country that can print unlimited dollars default in paying this crappy greenback back.
The real default is in returning paper that is worth less than it should be, and when more people REALISE this, and start telling Jack Lew, Obama, Yellen and other garbage assortments to stick it, shall we see a rise in gold.
Right now, Fedility did a token "fuck you", as did that cunt Dimon, but that's not enough.
This is one messed up world...
In a nutshell: Stay the fuck away from my gold, and stop trying to devalue it to the point where I'm left with worthless paper, and then forced to sell my gold to eat.
You make a valid point. Bravado aside, these are the times that try mens' souls. It's hard to keep the faith at a time when TPTB seem to have limitless capacity to manipulate the dollar price of PMs.
And so I ask myself:
-Can this really go on forever? Is this system sustainable? What do history and mathematics tell us?
-Do I believe that this is normal market action, or overt manipulation? Why would gold be so hated and manipulated if not for its power to bring down the system?
-When I look at my bank account statement and the gold in my safe side-by-side, which of the two inspires confidence and a sense of security? Put more simply, what does my heart tell me?
Hold fast.
That was not me. My coin shop does not open until 9.
Maybe it was the IMF. Didn't we read an article here yesterday that they had received "enough authorization" to start selling gold in order to "help" impoverished nations?
I guess those lucky bastards in Detroit are about to get hooked up.
Might want to go to the grocery store and get some beef instead of gold.
75,000 dead cattle in a record South Dakota blizzard no one has reported on...we're at peak beef for a while.
http://freepatriot.org/2013/10/10/75000-cattle-frozen-death-plains-blizzard-never-happened/
You are joking? No one can afford steak to begin with. I eat shit meat once a week because that is all I can afford.
>> I eat shit meat once a week because that is all I can afford.
We bought a side of beef over a year ago, June 12 I believe. Dressed out it was in the neighborhood of 330# to 350#. It is, without a doubt, the best beef I have ever stuck a fork into. But here is it, almost a year and a half later, and we've still got a petty good supply in the freezer. And I've given away a fair amount. Like all the other vices in life (yes, I consider fatty meat a vice, but only for myself as I've got a blood fat issue), I've just gradually moved away from them.
Live is short. If it's a good cut of beef you desire, treat yourself.
We did the same, great way to buy. Next comes a large enough solar unit to power our large, energy efficient freezer and a chicken egg incubator. If you have that, several roosters and a bunch of hens, your family will never lack for protein.
PS - I don't know anyone whose hens sit on their eggs. It seems to have been bred out of the species. Oy vey.
Try Bantams, they will sit. We have 7 new chicks, and she's a great mom! So much fun to watch the chicks play
I believe LeGarde was talking about p profits from gold it already had sold. Of course it's easy to make a profit when you are selling someone else's gold,
Ditto, that ^^
As far as I understand the situation, the 'authorization' applies only to funds generated from sales which had already taken place. This doesn't rule out a change of tack and further sales of course - but just reading the IMF statement as it is, the relevant selling was past tense when the announcement was made.
According to the IMF website, the last (small) sale was in Dec 2010 and concluded their 'limited sales' strategy of 403.3T.
In 2012 they issued a stack of SDRs against some of those generated funds. The last move sounds kind of similar?
Actually, the authorization was to dispense profits from gold sales already conducted. Might want to re-read that article.
apparantly they are now giving the green light to start confiscating 10% of savers' deposits to mend the "european crisis"
IMO it's a crisis of perception, that not enough people realise this will continue until they are stopped.
here's the IMF report
https://www.imf.org/external/pubs/ft/fm/2013/02/pdf/fm1302.pdf
Well tongue punch my fart box, seems someone has the condition known as "hot dog finger."
pods
Been waitin all day to hear this
It's so cliche.'
Hot dog, hot dog, hot diggety dog
We're splitting the scene
We're full of beans
So long for now from Mickey Mouse (That's TPTB!)
And the Mickey Mouse Clubhouse
Some nation need the cash? I can surely think of one that just yesterday said they would NEVER be selling....
Cue the group therapy.
Why would you want to own "REAL" assets, when fake assets are doing so much better. The fucking world is living in a daydream.
Nope, no manipulation here. We all know the way to get the best price is to just dump it.
To answer the question Tyler posited- it is QUITE RATIONAL in a world where the seller does not have the gold in the first place, and he must buy to cover (at a lower price, and a larger profit when the attempt to shit on the bid succeeds).
What would be irrational is knocking down the price if one actually had gold in the first place and they were trying to unload it in the marketplace...
So who really doesn't have any gold?
Just like the guy who goes "all in" with a pair of deuces, hoping for a miracle.....
But that hope ends at some point.
Let's deal the last card already!
Of course there is no manipulation. Unless you like FEMA camp.
It's called the Exchange Stabilization Fund. Its purpose is to keep the Federal Reserve Note or fiat dollar stable. For that to happen they need to keep gold Unstabilized.
Any rise all morning has been swiftly dealt with, and now this blatent bollox, with Printer Yellen now at the helm it stinks, especialyy with all this shit going on and the US$ is down today
Patience all, soon the tide will turn. I am ready.
This pounding + a crash = good buying opportunity for producer stocks.
If I were a Rational & Honest (not beholden to the banking cabal) CEO of a gold producer and my all in mining cost was higher than the manipulated Comex / LBMA price I would stop mining my current claim and start mining the Comex / LBMA with borrowed benny bucks. Then I would either sit on that pile or sell it through the Shanghai exhcange for a $30 to $50 premium. Either this is happening with producers now or there are not many gold mining CEOs that are rational and honest.
Everyone is supposedly broke, so selling/buying 25 tons for a billion bux is so common place these days..
Can't have anyone thinking gold is a safe haven can they!
Does not scare me in the tiniest
CON
Gotta keep the confidence in the system. The con is ALL they got.
So dark, the Con of man.
It is amazing the openness of the raid.....I think it is the Chinese..why not....they are buyers not sellers...why not spend a billion to buy 10 billion...if you own gold..you are not a seller..and if you do sell .you want the best price...not try to drop it......strange..but deep down I think this is part of the end game...people cheating to get ahold of the metal...and it will get worse
It also kills the miners and makes it cheap to buy gold in the ground.
Miners are hedged short. They have already Forward Sold.
Anybody have a clue where the GOFO Rates are? Are they in the Red?
The flushing occurs because "they" know over 90% of gold traders trade on technicals and not fundys so they hit the price at just the right points and the gold muppets do their thing and sell as all good muppets do. It takes way too much time and thought to be a fundamental investor nowadays. Most people just don't have the time nor the capability to think.
stateside
If their motive was to make me hate the government and the powers that be that control the government, mission accomplished. I'll fucking make a solid gold urn for my ashes and have it tossed into a volcano before I'll cough up one Krug to these shit bags.
That's about what my overall plan is, just bury all my cash and PM's in a deep remote hole in the desert...they'll NEVER get it no matter what.
... or a few magazines of 24kt .308
Instead of storing your Gold in a Safe why not make a Safe out of Gold and paint it Black? You can see that I've nothing in my Safe, right? The perfect ruse.
The best place to hide anything is in plain sight. Misdirection. You know?
But I have no worries as mine is safely stored at the Bottom of the Pacific. (Damned Boating Accidents!!!)
Hold your lines,i am waiting for that 1209 mark then it is buy time!!! They are desperate!!!
>> They are desperate!!!
Yeah, and they've been desperate since what, $1,900? I could use a bit of their desperation. Wait a minute, I think I am getting desperate.
The paper has nothing to do with the real thing. If you don't hold it, you don't own it. Since there are 100 to 1 paper to physical, it just opens up buying opportunities for those who can afford it.
It makes perfect sense if you think Congress / Senate and President will come up with a plan to kickstart the economy without raising taxes, honour the debt ceiling, put into place an aggressive repayment plan for the $17 Trillion of US national debt and reform entitlements while also preserving a decent quality of life / retirement / spending power of ordinary folk.
What are you smokin.....????
"It makes perfect sense if you think Congress / Senate and President will come up with a plan to kickstart the economy without raising taxes, honour the debt ceiling, put into place an aggressive repayment plan for the $17 Trillion of US national debt and reform entitlements while also preserving a decent quality of life / retirement / spending power of ordinary folk."
And fund Obamacare at no cost.
Looks like someone needed some cash quick? Crazy.
Sooner or later reality overcomes whatever dream, theory or manipulation. Reality is the measure of everything made by men.
Looks like someone took a punch to their shorts.
I'd be more worried when gold is at 5.000$ than 1000$. I have a lifetime insurance against the ultimate financial shitstorm. I'm quite happy if I never have to cash in that insurance.
Great point! To you young folks out there with eyes wide open, you're witnessing a rare window at this point in the history of the fed reserve and how these banksters rule over the planet. You know that one day it all blows sky high. Forget 401k, mutual funds etc just dollar cost average into physical metal and hope and pray that they keep manipulating the price lower for the next decade or two while you amass as much phizz as you can.
Time to sell a Phoenix house and buy phys?
me, i'm gonna buy some stocks....did you all realize that the GORO divvie is now over 5%? NSU over 4%.
better than treasuries.
Smart...Real Inflation is running at 7%-8%
BATFT...LMAO.
I will be looking for another breach of the 200 mDA in the Dow. Then I will short sell that Dow so fast it will make your head swing.
I like Double Tops.
Oh hell yes, writing a check as we speak.
Gotta drop the price...make it that much more affordable to the private money. Nab the capital before the serfs can get their grubby mits on it.
My fault guys. I bought yesterday. Stopped out today. Motherfuckers.
Me too, no shit.
This is getting old.
Trading paper past 2009 is crazy. Trading paper post MFG is just plain stupid.
Never, EVER, pick the long side in a fraud Futures contract.
looks like another sell building up here
Anyone truly holding gold ( as opposed to trading) should recognize that the increase in blatant manipulation of the paper price is directly proportionate to the fear present in the minds of the manipulators. In other words, the recent spike of shennanigans is actually quite a positive sign for those who understand that it is not if, but when they lose control completely, and the market becomes purely physical.
Of course this makes sense. However, this is a war and it is "them" meaning politicians/central bankers versus us. I expect them to deploy every trick in the book to keep the price of gold and silver down. "They" know rising prices of precious metals can get even the lowest common denominator smashing a beer can on his forehead moron concerned and scared about the stability of the system so therefore they will control the price.
You are correct up until your conclusion. They can only control the price as long as there are reasonable stocks of physical available for delivery, and those stocks are becoming very thin.
I understand that. I should have been more clear. The use of every law, regulation, margin requirement, or any tool under the sun is very much in play in my view. I hate to sound like I am throwing in the towel rather I am just trying to be realistic. They want it down and controlled so regardless of all the reasons why "this just doesn't make sense" it will happen.
Gold "should be" well above $2,000/oz. EURUSD clearly "should be" below the all time low I think around 0.80. But, they're not.
"...it will happen" until it doesn't. And my point is that the increasing signs of desparation on the part of the manipulators suggests that their control is likely to be broken sooner, rather than later.
"those stocks are becoming very thin."
And how are miners supposed to sell forward at a price that doesn't cover their production costs? It seems like this period is setting up shortages down the road.
All this sya's to me is the Dollar is about to plunge another 30-50%
Relax about Gold/Silver. Buy some today. I am.
in all likelihood, the dollar will have one more massive rally to kill the gold longs once and for all, before the curtain gets pulled back.
Anglo American markets are a laugh, like the American dream. CLEARLY the administrations and the regulators are complicit, and knock me down with a feather, GS enters with a slam dunk reco too - what's that you say about G20 and IMF meetings this week? Why can't we have some NAMES from the whistleblowers, then we could start in....
Crane the banksters.
A world in which you expect dollar strength in the short term?
It's reasons like this that Gold is probably the worst market in the world to trade due to the potential slippage. In almost every other large market (lots of volume/liquidity) you're unlikely to get more than 1-2 ticks of slippage on an order, assuming the stop isn't triggered by a big news announcement like NFP. But with Gold you can easily, and regularly, get 20-40 ticks worth of slippage. No way risk can be controlled with that sort of slippage.
By all means invest in it, but trading it is a mugs game over time because of the potential slippage.
I quit a few years ago for just that reason.
its alwasy pre mkt or overnight too, almost always. a US person just has to take it or be able to tell the future...20/30 an oz in a minute....not effecient whatsoever. its like naked call sellers..... sell for the cash and hope ti doesnt get exercised. naked option selling should be 100% margined....along with CDS's
goverment land sale at lowest since manhattan island. no longer your land now it's rockechilds land (POSTED NO TRESPASSING)
Gold is plunging straight to $900/oz.
Cut your losses.
:D
so you can hand me paper, that will be worth 30% less in a year.
i think not.
Yes! Cut your losses muppets!
brb.....stacking
Orly why not just short the shit out of it and use the profits to fund your purchases instead? It probably is going to $900.
I do think at some point it will be worth substantially more. So why sell here and cut losses instead of just taking what they give you and using it to your advantage?
i don't think so. you risk being completely out of the market the weekend they close out all the contracts, sell at the last price, and then go to all cash market.
and that weekend is coming.
they sold the entire comex inventory (again....how many claims are there on each ounce of gold now?) to pull this stunt today.
I am a trader, not an investor. I have never traded it or held it and I don't intend to start now. There are too many other, more stable trades to make that I don't need to fool with it.
But as far as the retail trader shorting gold, it would presumably have to be done with an ETF of some kind and those are notoriously unreliable, what with time decay and fees and opportunities for BlackRock to screw the muppets.
Another strategy, as you point out, is buying the dips. I have been doing that on Cable, for instance. The problem with that is it would take many years for gold to return to even $1200, if it gets there in your lifetime. Remember the last time gold was at these (relative) levels was in like 1985- almost thirty years ago. Who wants to wait thirty years to get their money out?
Unfortunately, the global economy is in a deflationary spiral, as pointed out repeatedly by Martin Armstrong. He also sees golden "protection" as rather foolish because the insurance would only be profitable in an inflationary environment. A quick glance at his blog would tell a lot. He has an article on there about paper vs. phyzz, which he contends are one and the same in value. It is near the bottom of the page and may at least give an alternative view for the gold bitchez crowd.
http://armstrongeconomics.com/armstrong_economics_blog/
I don't hate gold and this is nothing personal. It is lovely and I own some fine jewelry myself (the Indian kind with a deep, 24k golden tone...). But as a safe-haven investment, there are other places to be without all the headache and heartache: USTs, for instance.
:D
>> as pointed out repeatedly by Martin Armstrong.
I read the article. His contention is funds can't make any money being long commodities, especially gold. Odd, I thought hedge funds could be long and short.
Martin, like everyone else, orly included, has an axe to grind.
And what "axe" is that, pray tell?
The closest I have come to that was trying to tune my brother's Stratocaster in high school.
I said I don't trade the stuff. I read charts. That's what I do. Sorry you don't like my "axe" but that's not my problem, is it?
Maybe the "we'll let you out of prison, say what we tell you, repeat after me: gold bad, deflation coming" axe. This is conjecture on my part, but I've never quite gotten(believed) Armstrong's whole story. Agree he says some interesting things, smart guy, etc....just...?
P.S. Agree, paper gold's not my religion, be careful insulting peoples religion 'round here.
"Sorry you don't like my "axe" but that's not my problem, is it?"
No, your problem is that you have a fat bankster cock lodged in one of your orifices. And when the banksters who run game on you head for the hills because millions of starving people are ready to hang them on sight, your precious paper wealth will be worth precisely diddly squat.
I see deflation as well. Have had a fair amount of success using Treasury trading profits for phyical gold and especially silver. Seems trickier now, with rates pretty low, and metal trading at cost. But the percentage gains are nice if ten year drops from 2.70 to 2.25. Costs are coming down for mining refining also with oil. We will see.
From your keyboard to God's screen! Please!
P.S. Expect deflation in all things.
They're helping me realize my secret dream to plate my ride and pimp out my uniform with gold thread. I don't need any dental work, but I'm thinking a gold grill might be the ticket.
F U, Orly.
At this point gold is determined by the futures markets. So it can go lower than 900. BUT and pay attention here. The COMEX has the authority to force cash settlement, and also to FIX gold price. So if SHF, they can cap gold at say $950 and force a cash settlement on those standing for delivery at this price. Get physical while you can and make sure you hide it well, because when (not if) events take this turn, owning physical gold will be right up there with using chemical weapons.
What losses? My stack is increasing almost every week!