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Gold Monkey-Hammered Below $1300

Tyler Durden's picture


The initial ramp-and-revert in gold (and silver) prices gave way to a $20 price collapse once Draghi began speaking - as if someone decided that Draghi's speech was somehow 'credibility-providing' for the status quo... we assume this move is reflective of Draghi's 'dis-inflationary' warnings (though th einitial move seemed sparked by the better-than-expected GDP print - so Taper on?) What the un-reflexive jerk in precious metals fails to see - it would seem - is the need for the European central bank to reflate by whatever means possible that deflationary trend...(even if the Fed slows, it will be back soon enough). Gold futures saw volume explode as he began speaking (and US GDP pronted) but price plunged and volume legged even higher as Draghi mentioned the 'd' word...




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Thu, 11/07/2013 - 09:56 | 4130485 BoNeSxxx
BoNeSxxx's picture

Oh now this shit is just funny

Thu, 11/07/2013 - 10:14 | 4130578 HoofHearted
HoofHearted's picture

Thank you, Super Mario. I can now buy more with the same number of USD fiats!

Thu, 11/07/2013 - 10:18 | 4130601 CrazyCooter
CrazyCooter's picture

Anyone else feel like they are in a lawless alternative realtity written by Weird Al ... ?



Thu, 11/07/2013 - 10:41 | 4130681 DeadFred
DeadFred's picture

Speaking about alternate realities, I came across this a couple days ago and wondered "what would make the euro and gold crater like that?

Thu, 11/07/2013 - 10:43 | 4130690 El Oregonian
El Oregonian's picture

I LOVE a "Christmas Sale" day!

Thu, 11/07/2013 - 11:01 | 4130787 The Phu
The Phu's picture

Ya, I just BTFD'd myself.  Thanks Super Mario and Aunt Janet!

Thu, 11/07/2013 - 11:29 | 4130921 Deo vindice
Deo vindice's picture

A very good overview of why America is like it is. The smashng of PM's is just one part of the big game and it has been going on for a long time.

It's called the grinding of America.

Thu, 11/07/2013 - 12:02 | 4131071 dark pools of soros
dark pools of soros's picture

What dip? You mean the long deep valley dip since it peaked over $1800? If you think a $20 drop is a dip then a $500 one should have you buying everyday right?

Thu, 11/07/2013 - 12:16 | 4131160 ArrestBobRubin
ArrestBobRubin's picture

Yeah. That gold stuff is strictly for jerks.

Thu, 11/07/2013 - 10:47 | 4130701 TeamDepends
TeamDepends's picture

On todays episode of As The Debt Churns, Draghi opens his mouth and drops gold $20, Barry gets a visit from Reggie Love, and Valerie Iranian Mole Jarrett burrows another tunnel under the White House.

Thu, 11/07/2013 - 10:48 | 4130705 HardAssets
HardAssets's picture

Naw . . its co-authored by the ghosts of Joe Stalin and Adolf Hitler

Thu, 11/07/2013 - 10:53 | 4130730 Honey Badger
Honey Badger's picture

I wish is was lawless.  It is only lawless for those at the top.  The law is applied harshly to everyone else. 

Thu, 11/07/2013 - 11:16 | 4130841 Croesus
Croesus's picture

@ CrazyCooter: 

C'mon you could you throw that out there, but conveniently forget...."Wheel of Fish"?


P.S. I still upvoted you...just for the awesome reference. 

P.S.S. - The Phylis Weaver's of the world, are those lost souls, riding-high, celebrating BTFATH...

They will get..."What's IN the Box"... 

Smile and keep stackin', my friend! 

Thu, 11/07/2013 - 10:19 | 4130606 GetZeeGold
GetZeeGold's picture



The Chinese fiscal welfare train just keeps on a rolling.

Thu, 11/07/2013 - 11:54 | 4131019 Central Wanker
Central Wanker's picture

Thank you, Super Mario.

It's Hyper Mario

Thu, 11/07/2013 - 10:28 | 4130635 Who Laughed
Who Laughed's picture

Anyone know what's going on with the spell checker at ZH??
Has anyone noticed over the last few weeks especially?
I'm starting to think it could be an attempt to discredit the articles and their composers...

Thu, 11/07/2013 - 11:19 | 4130887 CrazyCooter
CrazyCooter's picture

That is the NSA in the middle there, trying to see how educated you are so they can classify you. Give em a few weeks or so, they will get the bugs worked out.



Thu, 11/07/2013 - 10:38 | 4130664 Muddy1
Muddy1's picture

Here's the take from Yahoo News:  

Fed ‘Backed Into a Corner,’ Low Rates and QE Here To Stay: Belski

"Quantitative easing doesn't work."


Note to Belski, et. al.:  No shit Sherlock.

Thu, 11/07/2013 - 09:57 | 4130490 Big Johnson
Big Johnson's picture

Fuck you Steve Leasman

Thu, 11/07/2013 - 12:18 | 4131173 ArrestBobRubin
ArrestBobRubin's picture

Make that Liesman. Talk about your apt surname eh?

Thu, 11/07/2013 - 10:04 | 4130491 JustObserving
JustObserving's picture

Gold and silver immediately fell on the 2.8% US GDP data at 8:30 AM not Draghi saying something:

The American economy grew 2.8% at an annualized pace in Q3, accelerating from Q2's 2.5% pace of growth and coming in well ahead of consensus estimates for 2.0%.

Thu, 11/07/2013 - 10:04 | 4130529 Xibalba
Xibalba's picture

It trades on headlines, not supply and demand fundamentals.... 

Thu, 11/07/2013 - 10:10 | 4130562 Stuck on Zero
Stuck on Zero's picture

That figure of "2.8% at an annualized pace in Q3" is just as valid as the inflation numbers. 

Thu, 11/07/2013 - 10:10 | 4130565 SheepDog-One
SheepDog-One's picture

'GDP' now just a direct measure of central bank infusion of cash to central banks. 

Thu, 11/07/2013 - 10:23 | 4130617 gmrpeabody
gmrpeabody's picture

Exactly..., +100

Thu, 11/07/2013 - 10:17 | 4130596 Headbanger
Headbanger's picture

Bingo!   It's taper-on now as the 10 Year Treasury  yield is showing:

Thu, 11/07/2013 - 10:53 | 4130727 HardAssets
HardAssets's picture

They fell because they made it fall. All the rest are just cover stories.

Just check out their usual 'waterfall' so-called 'price' chart.

Seen it all before.

Thu, 11/07/2013 - 11:01 | 4130779 HardAssets
HardAssets's picture

This all reminds me of the stories from WW2 before the D Day invasion of Europe. They made all kinds of fake tanks and artillery ,etc out of paper mache and produced bogus radio traffic of troop movements to fake out the Germans.

The 'prices' we see, might as well be made out of cardboard.

Thu, 11/07/2013 - 11:31 | 4130934 Tall Tom
Tall Tom's picture

Not cardboard..but close. It is paper Gold that has declined in price. Great deals are here. Stack while you can.


Please put some more pressure on that Jeffery Christian, jerk, over at Comex. Sooner or later the holders of Paper will demand delivery. I like to have a Camera in the room when that happens. I want to watch his face in total shock and horror when he sees that he ruined CME Group singlehandedly.


But what I really want to see is moves in the US Treasury Notes (Direction does not matter too much.). Since the Interest Rate Swaps have been levered to the hilt even minor changes can have major affects. When that goes out of balance that will bring CME Group, and the entire Gambling House, down, crashing into rubble and ashes.


It is just a matter of time. It is only a matter of time. And time is running very short.


Thanks Mario Draghi. Hopefully your announcement will collapse the entire system since they were not expecting the shock. Hopefully the shockwaves will set off the collapse.


Other than that...Have a great morning all...

Thu, 11/07/2013 - 11:13 | 4130859 Canadian Dirtlump
Canadian Dirtlump's picture

all the gdp number from the ministry of lies was, was the current excuse to print up a bunch of metal and dump it on the market without regard for price in the slightest.


Bring on the collapse already for shit fuck sakes.

Thu, 11/07/2013 - 11:17 | 4130881 Tall Tom
Tall Tom's picture

Get real. Gold tanked as the USD strengthens. Euro Currency Traders dumped Euros and bought the "Safe-Haven" US Dollar.


This happens every single time that a Major Foreign Currency is devalued. It is clockwork. It is a reaction to a stimulus.


It is just another buying opportunity for Gold as the Fiat Currencies of the World approach their true intrinsic value of ZERO. other news...

Thu, 11/07/2013 - 09:57 | 4130492 LawsofPhysics
LawsofPhysics's picture

Just say "thank you" and go about your stacking...

Thu, 11/07/2013 - 10:10 | 4130557 F-Tipp
F-Tipp's picture

We all know what the end looks like. I'm with you - the more time I have to convert my hours of work to PMs the better.

Thu, 11/07/2013 - 10:14 | 4130577 game theory
game theory's picture

but check the production levels in China before you do that...

Thu, 11/07/2013 - 10:21 | 4130609 LawsofPhysics
LawsofPhysics's picture

why, none of that gold will leave chinese vaults, ever.

Thu, 11/07/2013 - 10:36 | 4130660 Non Passaran
Non Passaran's picture

Of course, they are producing more so that they can dump it all on the market @$999 and make their existing stockpiles... Oh, wait.

Thu, 11/07/2013 - 11:08 | 4130816 HardAssets
HardAssets's picture

Numbers crunchers often believe that the numbers they have are real. Or they would have nothing to crunch.

What if theyre not . . . and we dont know how much PMs the Chinese have or produce ?

Would there be a reason they wouldn't tell the truth about that now ?  (I'm sure you can think of a few.)

Thu, 11/07/2013 - 09:59 | 4130504 Pemaquid
Pemaquid's picture

It's beginning to look a lot like Christmas! Buy the dip!

Thu, 11/07/2013 - 10:19 | 4130604 Running On Bing...
Running On Bingo Fuel's picture

$750, or thereabouts.

But today let's buy some twitter guys, OK? Finally make some confetti rather than complain about slamming.


Thu, 11/07/2013 - 10:23 | 4130619 GetZeeGold
GetZeeGold's picture



He's the Jon Nadler mini-me!

Thu, 11/07/2013 - 11:40 | 4130970 Tall Tom
Tall Tom's picture

Who is complaining?


I will never buy Stawks. I do not buy into dishonest. What happens to Ill Gotten Gains?


They vanish. "And they're gone...gone...gone...gone. I'd like to meet you in a time..timeless place. Somewhere out of context where there are no consequences." ~ Anonymous


Fight Club..bitchez!!! Watch the end. It is fantastic.

Thu, 11/07/2013 - 10:33 | 4130652 Winston Churchill
Winston Churchill's picture

November 17th. is the day to back up the truck if they stick to form.

OPEX 18th.

Thu, 11/07/2013 - 10:00 | 4130510 unwashedmass
unwashedmass's picture


i wanna get in here and buy, but there's this horde of Chinese in front of me!!!!!!!!!!!!!!!!

Thu, 11/07/2013 - 10:01 | 4130512 Calculus99
Calculus99's picture

You have to laugh. Just like any old bit of news is a good excuse to ramp  stocks, any old bit of news is good enough for a PM smackdown.



You WANT lower prices, lower prices will

a) Enable you to quietly add at cheaper prices

b) Get more and more people bearish

c) Force all the weak longs out

d) Enable the manipulators to switch from the short to long side, ie yours and their view/position is now alligned! And yes, the manipulators will switch because they're all about making money, up or down it doesn't matter


Yes it's hard right now, yes it's crazy watching all the money printing wherepaper assets hit new highs and  value assets like gold hit new lows. But hold on!

Thu, 11/07/2013 - 10:16 | 4130591 greatbeard
greatbeard's picture

>> But hold on!

I remember that being the rallying call during the tech meltdown. 

Thu, 11/07/2013 - 10:25 | 4130612 GetZeeGold
GetZeeGold's picture



So do I....was buying gold under $300 at the time. Seemed the logical thing to a hell of a deal on the shipping.


Thu, 11/07/2013 - 11:20 | 4130890 RockyRacoon
RockyRacoon's picture

Remember when gold hit $500?   I thought I must be insane to be buying at that price... but I did anyway.  It took a lot of faith to forge ahead -- just like it does now.  It was too "expensive" then in the mind of the average fella on the street and it's the same now.  It will always seem to be priced too high, until it's not.

Thu, 11/07/2013 - 12:49 | 4131334 Hulk
Hulk's picture

I know folks who bought in at $300 and never bought anymore because they thought it was too high!!! 

Thu, 11/07/2013 - 13:32 | 4131574 saltedGold
saltedGold's picture

I wasn't buying gold back then, but I was buying silver at $5.  Silver was $5 forever it seemed.  I remember my wife giving me a hard time for buying silver at <gasp> $8!  She thought I was an idiot and I should wait for $5 silver to return.  I'm sure there are a lot of people out there waiting for $5 silver and $300 gold to return... I wish them luck.

Thu, 11/07/2013 - 11:59 | 4131044 greatbeard
greatbeard's picture

I got my PHD in Tradenomics during the tech meltdown.  It cost me a bundle but I still remember the lessons learned.  And yes, the choir was singing "hang on!!! hang on!!! all the way down.

>> ....was buying gold under $300 at the time.

Yeah, gold only briefly made the journey below $300, but it's amazing how many people got on board there.  I think I'm the only bug out there without a big old bag of sub-$300 gold.

I bought my first eagles at $461, including premium, and my first silver at $7.59, including premium.  I still have the receipt.  I made my last purchase @ $1,200, but that was some time ago.  Still have every bit of it, but that doesn't stop me from voicing my opinion.

Fri, 11/08/2013 - 07:51 | 4134466 GetZeeGold
GetZeeGold's picture



Yeah, gold only briefly made the journey below $300


Naw it was a good year and a half chief. I should know. I bought it at $273 and watched it fall to $256. Thank goodness the LMBA sent some cheerleaders to consul me.....I never would have made it otherwise.

Thu, 11/07/2013 - 12:22 | 4131190 ArrestBobRubin
ArrestBobRubin's picture

Now's the time for PM accumulation, not price appreciation

Just take care of the first part- -  the second will take care of itself.

Thu, 11/07/2013 - 10:01 | 4130515 Chupacabra-322
Chupacabra-322's picture

Global Governence, NWO or whatever fancy Psyche Warfare/PsyOp lingo The Global Criminal Oligarch Cabal Bankster Intelligence Crime Syndicate would like to use is all identical to them. The goal all done by design & all done by Agenda is Centralized Power of the Worlds Governments with vertically integrated Global Economies owned & controlled by them.

A New World Order or New World Banking Order for The Global Criminal Oligarch Cabal Banking Intelligece Crime Sydicate. Next stop, Serfdom in a Totalitrian Authoritarian Global Fascist Police State Dictatorship.

Thu, 11/07/2013 - 10:02 | 4130518 Conax
Conax's picture

It's like killing a zombie fur seal.  You bash it over the head one morning, it lays there  dead, but the next morning it's getting up and needs a good clubbing one mo agin.

They bust his head reeel gud today.

Thu, 11/07/2013 - 10:04 | 4130525 Big Johnson
Big Johnson's picture

Good thing gold isn't really money

Thu, 11/07/2013 - 10:08 | 4130547 SheepDog-One
SheepDog-One's picture

Well apparently it's not real money...if they can choke the shit it out daily like they're doing, what makes anyone think later it will suddenly turn around and kick central banksters in the nutsack and defeat them? 

Thu, 11/07/2013 - 10:16 | 4130589 Chupacabra-322
Chupacabra-322's picture

If The Global Criminal Oligarch Cabal Bankster Intelligence Crime Syndicate could blow Gold's brains out like they did Kennedy, they would do it.

Thu, 11/07/2013 - 10:17 | 4130592 HoofHearted
HoofHearted's picture

Paper gold is not real money. Try picking up some physical metal, in size, at this price. Now if you got to the welfare moms on the street, you might be able to buy their gold teeth at spot or below, but if you want investment grade, good luck.

Gold, bitchez! (Someone had to say it.)

Thu, 11/07/2013 - 12:00 | 4131061 Tall Tom
Tall Tom's picture

I have no problem acquiring bullion. I do not pay that much over spot for it.


But I would rather get Scrap well back of Spot, have it refined, and take delivery. That way the Price Declines really are of no real cost. I have no problem doing that from Welfare Moms or others.


It is just something to consider.


Actually a Price Decline to $750 would not hurt me too much at all...if any.


I do not measure my wealth in the amount of Toilet Paper which I have.


Newly printed Currency, made of Silk Paper, is quite soft and durable. There is the added benefit that you can always spend it afterwards. Why waste money by flushing it down the Toilet?


Tyler Durden would like that. It was funny when he was selling rich women soap which he had made from the fat that they had lost from liposuction.


That is a great movie.


For your viewing pleasure:


All need to watch it again...

Thu, 11/07/2013 - 10:06 | 4130536 SheepDog-One
SheepDog-One's picture

If they can 'bad rate cut, good rate cut' this shit like they're doing, they'll hammer gold and silver into oblivion....and still no one does anything to stop the lunatics. Scary world!

Thu, 11/07/2013 - 11:23 | 4130904 RockyRacoon
RockyRacoon's picture

When a trader can make money buying the new tech IPO du jour, why should he/she bother with the barbarous relic?  The game of musical chairs music is playing faster and faster.

Thu, 11/07/2013 - 10:06 | 4130537 Dr. Engali
Dr. Engali's picture

You always get the best price whe you dump it all at once. At least that's what the traders tell me.

Thu, 11/07/2013 - 10:34 | 4130655 Non Passaran
Non Passaran's picture

Because the euro is deflating and getting more valuable by the day, so if you don't dump zee gold at once, you may miss out on that appreciation, riiight?

Thu, 11/07/2013 - 10:06 | 4130540 The Continental
The Continental's picture

The economy is not growing. All government numbers are bogus. Real GDP is shrinking. Obamacare will guarantee a horrible holiday shopping season. I buy gold and silver and could care less about so-called government econometrics.

The present occupant of the Oval Office is a perfect representative of our federal government and banking governance, a total fraud:

Thu, 11/07/2013 - 10:15 | 4130583 birdsonthebat
birdsonthebat's picture

I'll put this on The Big Board for everyone to see. Learn to stop worrying and love the financial bomb. long live the republic

Thu, 11/07/2013 - 11:06 | 4130821 The Continental
The Continental's picture

Thank you. Every American needs to see/listen to this interview. The ring of truth is clarion. Barry Soetoro is a fraud, a lair, a poser, and a criminal. It is obvious that TPTB wanted the perfect puppet in the Oval Office, a man without a soul and without a conscience, a man with no morals and no allegiance, and a sociopathic liar to boot. To be blunt Barry Soetoro is a low life scumbag moocher and loser. TPTB decided to implement the "Trading Places" plan, though using a far sleazier and dangerous character than the one played by Eddie Murphy. I'm sure they are pleased with the outcome. The re-election of one Barry Soetoro (aka Barrack Obama), a recivitist illegal-drug-abusing homosexual identity thief and pathological liar, to the presdency is proof positive that the political process in American is fatally flawed.

Thu, 11/07/2013 - 10:08 | 4130549 Stuck on Zero
Stuck on Zero's picture

Cool.  Gold on sale.  Buy all you can.


Thu, 11/07/2013 - 10:09 | 4130552 zurakowg
zurakowg's picture

I think our friends were worried, as usual. While the ECB rate cut caused Euro stocks and gold to rise sharply, this was followed by PM smack down. The rise in gold was logical and Euro stocks held their gains. But the boys couldn't let this signal from PM be seen. Stocks rising is different, of course, sends the "right" message.

Thu, 11/07/2013 - 10:10 | 4130554 RaceToTheBottom
RaceToTheBottom's picture

It is almost like they are trying to change the impressions of people how PM will historically act.  Desperately trying to convince people that the PM of today is not like the PM of yesterday.

There is no difference.

All the actions of Monkey-bashing PM come at a price and even fractional bankstering and ETF manipulation will not change that

Thu, 11/07/2013 - 10:15 | 4130582 zurakowg
zurakowg's picture

You are right, in the long run, but they will push on as long as they are successful.

Thu, 11/07/2013 - 10:54 | 4130733 e-recep
e-recep's picture

NWO shills in Turkey are mocking coin shops that are shutting down business due to lack of profits. (Around 10% of the shops in Istanbul closed this year)

Thu, 11/07/2013 - 10:10 | 4130558 Quinvarius
Quinvarius's picture

Currency collapse in free world requires a nice paint job.  No doubt they crapped their pants when gold started rising.  EUR and USD are the same currency and their exchange rates mean nothing at all to real gold.  Both fiat currencies are part of the same Central Bank rigged FOREX system where rates are agreed upon and held in bands with printing presses.  Their paper has no control or bearing on real gold because unlike their paper, there is a physical component.  Gold will always adjust over time.  

Thu, 11/07/2013 - 10:10 | 4130561 BurningFuld
BurningFuld's picture

Draghi is at zerp will make no difference to the Euro economy. Couple years of zirp then the EURO money printing starts.....provided the USD is still intact.

Thu, 11/07/2013 - 10:11 | 4130567 quasimodo
quasimodo's picture

Gawd I wish there were some chart or ticker that showed me what the stuff is ACTUALLY worth, this shit is just getting old. 

I love discounts as much as the next guy, but damn....only so much screaming the merchants can do about firesales until it falls on deaf ears.

Thu, 11/07/2013 - 10:12 | 4130572 unwashedmass
unwashedmass's picture


the premiums overseas are in the range of 30-50 higher per ounce. on the black market in india, its wild....much, much higher. 

Thu, 11/07/2013 - 10:22 | 4130615 GrinandBearit
GrinandBearit's picture

$150-200 premiums in India.

Thu, 11/07/2013 - 10:25 | 4130625 unwashedmass
unwashedmass's picture


and that's still a bargain in india. what are we at now? 59 claims to every ounce of actual gold the Comex and LBMa SAY they have? 

gonna be a lot of surprised people finding out they don't own any real gold in December 

Thu, 11/07/2013 - 10:23 | 4130621 Manthong
Manthong's picture

.. they are opening the stores ON Thanksgiving Day now..

that should tell you something.

Thu, 11/07/2013 - 11:01 | 4130784 PT
PT's picture

Yeah, 'cos you might be half way through your Thanksgiving dinner and suddenly remember that you forgot to buy the turkey!  Wouldn't that be embarrassing!  Good thing you can now just quickly sneak out and buy a turkey before your guests notice anything is amiss!

Thu, 11/07/2013 - 11:04 | 4130805 PT
PT's picture

Everyone knows you get richer if you go shopping 7 days per week instead of one day per week.  It's all those impulse buys ...

You don't like shopping?  Are you a terrrrst? 

Thu, 11/07/2013 - 10:11 | 4130568 unwashedmass
unwashedmass's picture


this could be it tho, for the smackdown game. 

they are running on fumes at the Comex and LBMA

the Chinese have  managed to get about all there is to get. 

the idiot at Citi might have been right this once. 

next stop, the implosion 

Thu, 11/07/2013 - 10:12 | 4130569 Kaiser Sousa
Kaiser Sousa's picture

Fuck you Bernanke and O'le Yellen....

bought shiny yesterday....buying more today......HA - Ha!!!

Thu, 11/07/2013 - 10:16 | 4130587 Homo Erectus
Homo Erectus's picture

More to do with dollar strength than Draghi.

Thu, 11/07/2013 - 12:10 | 4131122 Tall Tom
Tall Tom's picture

When the Euro weakens, because of Draghi's action, Euro Currency owners trade the Euro for US Dollars. This increases demand for US Dollars. Thus the price for US Dollars rises accordingly.


The US Dollar "strength" is relative to Euro weakness. It has EVERYTHING to do with what Draghi did today.

Thu, 11/07/2013 - 10:16 | 4130588 Kina
Kina's picture

The employment figures make it clear the economy is nowhere near growing.

Thu, 11/07/2013 - 10:18 | 4130600 GrinandBearit
GrinandBearit's picture

All short term noise.

Dips are buying opps.


Thu, 11/07/2013 - 10:19 | 4130605 Fix It Again Timmy
Fix It Again Timmy's picture

Phhh, Gold?  Why go to all the bother of prospecting for gold-bearing rock structures, drilling countless core samples, building a mine, processing the rock tailings, smelting and refining the ore and securely storing the ingots WHEN you can sit back in your chair, take a quick break from watching porn, and create some money with a few key strokes?  Fiat currency - it does a body good.  The fact that gold has a 5,000 year old track record while most unbacked currencies have a life-expectancy of 40-50 years is entirely immaterial.....



Thu, 11/07/2013 - 11:33 | 4130944 RockyRacoon
RockyRacoon's picture

Your rating proves that people don't read thoroughly.  Shoot first and ask questions later sort of thing.  I enjoyed your comment!

Thu, 11/07/2013 - 12:15 | 4131155 Tall Tom
Tall Tom's picture



Sometimes people judge because of the previous history of posts rather than on the content of that which is posted.


FixItAgainTimmy is correct in this post. I gave him a Thumbs Up...


I enjoyed that comment also.

Thu, 11/07/2013 - 10:19 | 4130607 All Out Of Bubblegum
All Out Of Bubblegum's picture

The Banksters are mad at Bitcoin so they're taking it out on PMs.

Thu, 11/07/2013 - 10:22 | 4130616 buff90
buff90's picture

They'll keep hitting PMs until they can't and then look-out.  Just keep stacking.

Thu, 11/07/2013 - 10:23 | 4130620 Trimmed Hedge
Trimmed Hedge's picture

I wish Taylor would "monkey-hammer" me, if you know what I mean.. *wink wink*

Thu, 11/07/2013 - 10:37 | 4130667 Al Huxley
Al Huxley's picture

That's some sorry-assed manipulation -they're losing their touch - can't even hold it below 1300 into the market open - what, are they running out of paper now too?

Thu, 11/07/2013 - 10:41 | 4130679 EyesWise Shut
EyesWise Shut's picture

Draghi presse conference - interesting answer to the question WHY A 2% INFLATION TARGET?:



This comes as close as it can for a central banker to admit that the are inflating debt away!

Thu, 11/07/2013 - 12:25 | 4131210 Tall Tom
Tall Tom's picture

Answer...Because the Central Bank's intent is to steal One Half of your Purchasing Power over the next 35 Years.

(Use the Rule of 70 to figure that out.)


Few understand Compounding Interest and cannot think Exponentially. Therefore 2% does not really sound like much to most.


So they can get away with it...they think.


That is why they hate Gold. They cannot inflate that away as they cannot control it. Personally I seek appreciation rather than depreciation.


Yet the misinformed and ignorant masses do not know to seek anything at all. That is also why they get away with it.

Thu, 11/07/2013 - 10:41 | 4130682 Madcow
Madcow's picture

this seems counter-intuitive to me.  woudn't a rate cut and deflation forecast result in a higher price of gold vs a lower price?  

i don't understand this market. 

Thu, 11/07/2013 - 10:50 | 4130716 Winston Churchill
Winston Churchill's picture

Gold would go down with deflation, but not as much as everything else.

It would maintain its purchasing power, paper not anywhere near so much.

Thu, 11/07/2013 - 12:04 | 4131085 robertocarlos
robertocarlos's picture

But the definition of deflation IS that the paper buys more.

Thu, 11/07/2013 - 12:50 | 4131337 Winston Churchill
Winston Churchill's picture

Paper assets excluding actual  currency.

Thu, 11/07/2013 - 10:54 | 4130737 SWCroaker
SWCroaker's picture

I see your problem: stop thinking of this as a "market".     

Thu, 11/07/2013 - 12:27 | 4131221 ArrestBobRubin
ArrestBobRubin's picture

It's easy really: all you really need to understand is that there's really nothing to understand.


Thu, 11/07/2013 - 12:35 | 4131264 monad
monad's picture

First you kick the guy in the nuts because his head is harder to reach. Then when he keels over, you kick him in the face for maximum ROI.

Thu, 11/07/2013 - 10:43 | 4130687 Bagbalm
Bagbalm's picture

Part of the reason they do this is to instil fear. It keeps folks who might decide to buy gold out of the market because they see wild swings and are afraid they will suffer a loss. As if you don't have the same risk in any investment. But try to tell them that. It seems lost on people that the down side risk doesn't run to zero like so many other things.

Thu, 11/07/2013 - 10:43 | 4130689 Sufiy
Sufiy's picture

Twitter: profit is not important now for us, we can get it at any moment ... we heard it already ... sweet memories 1999 ...

Comex Registered Gold Falls To New Low at 640,552 Ounces - Claims Per Ounce Still Around High of 59 

Jesse reports another New Low at COMEX. With this rate of outflow COMEX will be empty very soon - can we assume that now higher Gold prices will come to save it?

Thu, 11/07/2013 - 12:33 | 4131254 Tall Tom
Tall Tom's picture

Good report. I want to see Jeffery Christian's face in shock and awe when he understands that he destroyed CME Group singlehandedly.

Thu, 11/07/2013 - 10:55 | 4130744 eddiebe
eddiebe's picture

Banksters are asserting control with every move they make in all markets and we the people stand by powerlessly. This will not stop until we the people stand up against them. Where are our champions?? 

Answer: Playing nicely along with our masters collecting scraps from the bloody feast.

Thu, 11/07/2013 - 10:57 | 4130756 LooseLee
LooseLee's picture

Ha! The only 'growth' is the growth in unpayable debt....FOOLS!

Thu, 11/07/2013 - 11:01 | 4130785 laomei
laomei's picture

Here's a cool thing I learned.  Funds in China have been taking in MASSIVE amounts of cash via bank financial products to short the crap out of gold.  At the same time, the companies doing it have been buying up physical with their profits.  It's kinda funny to see.  It's all cool though, cus they are backing the loans using US insurance companies.  It's all pretty win-win.  If gold goes up, us insurance companies on are the hook for billions and I get my 10% ROI.  If gold goes down I get my 10% ROI.

Thu, 11/07/2013 - 11:22 | 4130896 Winston Churchill
Winston Churchill's picture

Thanks for  the confirmation.

Most here surmised this about a month ago.The PBOC is a major player

in GLD shorting  down the phys price and spending worthless dollars they will never be paid

back.How can the FedRes complain about it ?The irony is sweet.

If you are going to be raped anyway,lie back and enjoy it.

Thu, 11/07/2013 - 12:57 | 4131390 Hulk
Hulk's picture

This gives us a great look into the how and why fraudulent, corrupt systems fail. The fraudulent paper gold system will fail, by the very mechanism you outline...

Thu, 11/07/2013 - 14:04 | 4131706 laomei
laomei's picture

Yep, it's all glorious bullshit.  Endless piping hot steamy bullshit, built on a base of more bullshit.  But hey, what the fuck, why not jump on the bandwagon and get your 10% with zero actual risk?  As long as the system doesn't break by the time the contract is up, investors get their money, the funds get their profit (which turns into physical gold) and the insurance companies get their premiums, which turn into RMB-denominated profits which are funneled through to a tax-free haven yet are still "pretend dollars" that they can claim for their next profit statement.

Until of course, the day that it doesn't work out.  In which case the insurance companies get bailed out by the us government, because allowing them to fail would end the world.


Just doing my little part to make the world a worse place I guess.

Thu, 11/07/2013 - 11:03 | 4130801 Alpha Monkey
Alpha Monkey's picture

meanwhile bitcoin over 300 now.

Thu, 11/07/2013 - 11:06 | 4130822 youngman
youngman's picture

Every day that goes by..I see the games that are being played worldwide..and i want to get out of the is a way of doing that...but I think more and more people should be doing the same and seeing the same things I am..but I also think we are still only 3% of investors...most of the rest are still playing....and can´t figure out why??????  I see our Obamacare..and I see in a year that will cost and extra trillion dollars in printed money as it will be a gigantic  failure...only the takers signing up....they payers will not....destroying our healthcare as we know it..and our employment will drop because of it...layoffs or the only thing to do is print...and they will....trillions more.....and try to tax more...but that will slow the economy even more.....if we add 5 trillion to the worlds fiat next year gold should be up.....I think it will be..but these days makes one wonder

Thu, 11/07/2013 - 11:40 | 4130968 RockyRacoon
RockyRacoon's picture

If you are a professional gambler, and can borrow money at zero rates to ply your trade, and you will be forgiven for cheating or not repaying your debts, why wouldn't you?

Thu, 11/07/2013 - 12:47 | 4131320 Tall Tom
Tall Tom's picture

Because it is...immoral??? That is why I will not play the Stawk Market.


Before any recovery ever happens morality must make a strong comeback. So much trust has been violated that I do not believe that this generation will ever place trust in Bankers or Politicians again in their lifetime. Actually that will be one of the benefits of a Total Financial Collapse...which is Mathematically unavoidable at present.


Exponential Growth leads to exponential collapse in any adiabatic system. It is unsustainable Mathematically. The rate of Growth of Revenue has diverged from the Exponential Rate of Growth of Debt which ensures collapse. There is no rational denial of this outcome. Math does not lie. People who use Statistics might. But the Mathematical Truths are there for all to see and the consequences are unavoidable.


Doing that which is moral and just may cost you profits in the short term. But the benefits far exceed any transitory gains from being thieving and conniving. That is why I will not act in such a self destructive and wreckless manner.

Thu, 11/07/2013 - 13:40 | 4131621 RockyRacoon
RockyRacoon's picture

Morality and profit-taking are mutually exclusive in this market.  Don't expect right and proper behavior from these scoundrels!

Thu, 11/07/2013 - 11:07 | 4130825 Spumoni
Spumoni's picture

Be thee well and worry not

lo yon banksters- full of snot.

Greedy stoopids bent for hell

freak ye not, it will be well.

Just keep stacking shiny metal

yellow, white or copper-petal.

Ore grade is slight and not increasing

only fiat, ever leasing

time from gold, but shitheads play

not knowing that when comes the day

when their game ends, and not so well

their sorry souls will burn in hell.

As for me and all my kin

the same is true now as then-

patience makes a hunter whole

so cave not to the stupid troll!

Thu, 11/07/2013 - 11:13 | 4130867 muleskinner
muleskinner's picture

Chiang Kai-shek shipped the Chinese gold off the China mainland and over to Taiwan one moonless night.  Or, that's the story, anyhow.

The US gov loaned the Nationalists in China 135 million dollars to help the war effort in China against the communists, the Red Army.

The Nationalists bought real estate in New York City.

Why spend all that money on stupid armaments that will be salvaged when you can buy entire city blocks in NYC?

Mon, 11/11/2013 - 02:56 | 4142180 nwowatcher911
nwowatcher911's picture

Seems like alot of 'Assets' have run amuck asof late...

Mon, 11/11/2013 - 02:57 | 4142181 nwowatcher911
nwowatcher911's picture

Also there is a mega gold transfer in hawaii this week, complete with chinese escort, under guise of another military drill.. except in this drill, they get to keep the gold..

Thu, 11/07/2013 - 11:22 | 4130900 F.A. Hayek
F.A. Hayek's picture

PM holders: What is considered to hold more value - coins, ingot, or does it not matter and why?

Thu, 11/07/2013 - 11:31 | 4130938 The Continental
The Continental's picture

Bullion coins issued by government mints such as US, Austria, Canada and Australia are to be preferred, despite small premia. Whne dealing with gold bullion, counterfeiting is always a concern. Most will not accept a bar without an assay. If a mint bullion coin meets Fisch test and specs, most will accept on it's face as genuine. I like silver american eagles too.

Thu, 11/07/2013 - 18:16 | 4132704 auric1234
auric1234's picture

Fill a glass with cold water, then put your glass on top of electronic scale.

Tie the coin to a light knot and sink it on the glass. Make sure it's completely underwater while holding the coin through the knot at the same time.

The increase in weight of the glass equals the weight of the water displaced by the coin. That's 1.612 g for one ounce of pure gold, and 1.927 g for krugmans.

More reliable than Fisch.


Thu, 11/07/2013 - 12:00 | 4131063 robertocarlos
robertocarlos's picture

You'd be stupid not to sell your shiney and buy twitter shares. Then after you cash the twitter shares in for double your money you can buy a small SA country.

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