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...And There Goes Gold
As Bitcoin soars over $600, another alternative to the fiat currency system is being monkey-hammered lower this morning as status quo support does everything it can to rotate stocks above the key levels we discussed earlier... because stocks rising on anything but fundamentals cannot be exposed for the liquidity-fueled excesses a rising precious metals price would unveil.
Gold is still holding above recent lows but Silver has broken to fresh 3-month lows...
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Buy! Buy! Buy!
at $1,100oz i am loading up.
I would back the truck up at $18 silver, we will probably be there soon enough.
www.comparesilverprices.com shows silver eagles almost $4.00 above spot right now, maybe the phys. market is diverging?
that silver price hurts. silver 'should' be well above $40...and much more...
I agree with you... pretty unreal given everything.
BLACK FRIDAY SALE!!!
Every day at 8am est
with metals dropping off a ledge, it sure is nice to know your money is safe in bc and equities and real estate and s&p futures, where it is guaranteed to grow and grow and grow
try thie One Weird Trick to increase your ROI by a factor of a thousand: bribing the offspring of gub officials!
I still don't understand why it's not embraced more often on here to have a strategy of having a few bucks in the market and apparently bitcoin, then occasionally taking the gains to fund phyz purchases.
playing along with fraud and corruption just doesn't feel right, speaking for myself. one reason the world looks like it does is that too many of us compromise... just enough to let the real filth keep control.
I am not sure how taking the free money from the market and using it to take phyz off the market and hopefully kill the beast is bad. You are sort of turning their weapon on themselves.
in principle i agree with you. the problem is that they control the casino, and unless you are an insider, they can pretty much fleece you at any time. its like voting... voting even for a good candidate (if you can find one), in a totally rigged system, only gives the system credibility with the majority of people who still haven't realized that the system is rigged.
OMG, anyone want to sell me 2 BTC for an ounce of gold? I am desperate to be a bagholder!
>> I am desperate to be a bagholder!
I'm thinking if you're holding gold you already are.
In that case, PLEASE PLEASE PLEASE someone trade me some fiatscos, preferably USD, for my gold!
>> PLEASE someone trade me some fiatscos, preferably USD, for my gold!
You serious? It can be done in a few moments.
In the last year bitcoin is up big and gold is down big. It just seems a little ludicrous for gold folks to be calling bitoiners bag holders.
Even if an argument can be made that it's in a good cause, there are some games that I will not join.
There is too much sentiment here at ZH and in the world at large that if you can make money doing something, then you ought to do it. That's not true. It's mostly untrue because what people (including many ZHers) call "making money" is actually merely getting money. I.E. not creating wealth but merely winning in a wealth-transfer game.
I am unable to eat certain foods, not for what we normally thing of as health reasons, but because of their karma content.
I likewise am unable to participate in any "money making" endeavor that I perceive to be a zero-sum game. Zero-sum (or negative-sum) games are immoral. Only play positive-sum games.
I'm kind of worried about my retirement because I know I will not be able to accept social security checks. (Although they probably won't be on offer by then anyway...)
Well said indeed sir. And what you and 'John39' are addressing is the folly of the majority of American people who made the choice to play in that Casino to it's end. I'd say we're real close to the bare metal on those "brake pads".
Another banner record day milestone at the S&P!
And the problem with taking money from the 'market' now, is that we all know that it is supported by printed money, which is stolen wealth.
That $85 billion a month dilutes the wealth-to-money ratio of US currency worldwide, thus stealing a little wealth from everyone who holds dollars. So I have to stay out of the market even if (or especially when) I know I will make money (actually not make but get money) by being in.
'playing along with fraud and corruption just doesn't feel right'
When it comes to PM, most here are willing to buy at a manipualted price, and want to sell at the real price. Are you sure you have the moral highground?
When I put money on a counter, and the other guy puts silver on the counter -- we have just made an agreement. He could have asked for any other price, and I would have considered it and we would have come to an agreement. He could have decided not to sell at these prices. (As I do.)
What I can't accept is, for example, medical care from a doctor at a given price, if I know that someone is holding a gun to his head to enforce that price. I will either make a deal off the books to pay him properly, or I will not take the care and tell my body to heal itself.
In the case of the silver seller, he was still able to make his own decisions. In the case of the doctor, he was not.
When I send money to a bitcoin seller and he sends the bitcoin to me...what is the difference?
That's interesting -- let me ask the Anarchist Judge.
OK, here's what he says:
"If The Abstraction sends money to an anonymous seller to purchase anything, including a BitCoin, The Abstraction is under no obligation (and indeed has no way) to assure himself that the anonymous party is acting freely. There is nothing wrong with The Abstraction assuming that the other party is indeed acting freely, and that the other party's property rights are not infringed by this transaction. It is legal."
Well ! There you go.
I wish I could hear even the tiniest comment from whoever junked me on this post.
I promise I won't be mean -- I really want to hear what you think.
Considering there is a reply button, the down vote is effectively obsolete. It makes the argument "You are wrong. QED" Which obviously, is not that convincing. I will only downvote if I think the person is legitimately trolling and not worth replying to.
Maybe it was the said "anonymous seller" you referred to in your next post?
"then occasionally taking the gains to fund phyz purchases."
Yup, I couldn't agree more. Like a few dozen Bitcoins and few dozen shares of UPRO Triple BULL S&P ETF? Bitcoin is the best place to put some extra cash short term bar NONE. At least it was. I got in under $90 each. Can't say how long this party will last. I tried to buy more Bitcoin in July when it dropped and I was blocked by DHS. They do not want you out of the Federal Reserve System, but selling Bitcoin and coming back in is far easier. Getting ready to sell cuz this Bitcoin thing might not go on forever.
"this Bitcoin thing might not go on forever. "
This is a blowoff top, at least in the short term. We will see $400 before $800, IMO. I don't hold any BTC, but did think about it last year, closer to $40!
Probably because most of us saw this as a ponzi years ago and where expecting it to crash any moment. Instead it goes up and up and up while we wait for it to crash. Most of us probably fear that once we jump in it will crash.
I mean if one has sat on the sidelines for years, it seems foolish to jump in now. But of course it could run up to 30,000 for all we know and worse yet the dollar still may have value.
obviously we don't know what the fuck we are doing, we try to act rationally in an irrational games system.
One day soon the supply will run out but there will be plenty of paper GLD on the market with nothing to back it. I think the Dinklevoss twins are involved in a last minute pump and dump in collusion with the Govt to get everyone to leave PM,s and invest in bitcoins. Then they will throw the switch when the TPP (trans pacific partnership) is enacted giving the Fascist Govt. and corporations full control of the internet. Then have fun trying to recover your bitcoin fortune
http://www.rpmex.com/RPMEX-Blog/April-2013/Fewer-Profits-in-Gold-Mining-...
http://www.forbes.com/sites/afontevecchia/2013/11/12/winklevoss-twins-sa...
http://www.theverge.com/2013/5/14/4330212/tpp-threat-to-the-global-web
A bag of weed costs more, I mean come on, this is a joke!
then buy more!! and more!!
funny how stackers keep saying the price doesn't matter but keep crying when it is low.
you guys would 'cash out' back into fiat ASAP if you could get a double you liers.
All this talk of the great reset and you only want real sound money that you can hold in your hands is bullshit.
Now you missed the boat on BTC and once you buy that will be the time it tanks losers
Double, no. Ten-bagger, I would consider.
But, honestly, if the price of gold goes to $10,000 in a period under 3 years, you would have to be pretty foolish to accept USD at that point in time.
HR Depends on the state of the USD. If you get to a reset window where dollars crashed and TPTB will bring in new fiat, then you should take that 10,000 and put into other hard asset because the price of gold will also reset to new fiat. That new price of gold won't be anywhere in the ballpark of 10K at that point. I'm hoping for closer to 25K in reality.
"I would back the truck up at $18 silver, we will probably be there soon enough"
My dozer backs up at $20 silver. Anything under 20, I load up. I don't know if it will hit 18...
Do you notice no one just ever buys at the current price?
Don't know why....I do it all the time. I did it a lot more 10 years ago which was a lot harder cause we didn't have cheerleaders back then.
If the traffic on my site is any indication of when people are buying, it seems like most people wait for a dip, then they continue to wait and wait and wait until the price goes up again, and then they finally buy near a top for fear of missing the rocket to the moon.
and there you have it.. as we always knew, most stackers here are just using the comment section to promote gold/silver buying since they run a shop/website that sells gold/silver
the gigs up.. get a real job
WTF?
My site doesn't sell anything, I didn't link to it and I have a real job.
One of these days, some smart egg on a blog such as ZH, will produce evidence of what firm or seller is behind these smackdowns for phucks's sakes. This "Anonymity" needs to be brought into open light. That would score huge viewership.
It's the FED, silly
And the ESF. Doesn't everyone already know that?
And the IMF.
Its not technically illegal for the government to manipulate markets. So there.
JP Morgue working with the blessings and backing of the FED and the Chinese government.
Do what the Chinese are doing, buy the dips, especially quality gold miners. Ridiculously cheap.
I've been buying quality Bitcoin miners.
Sound investment, I've been told.
They ain't making - uhm, won't be making - them any more once the get to 21 million.
Silver, on the other hand, gets dug out of ground for $5/oz. Gold is even worse - its supply is virtually endless and it is very recoverable. Do the math ;-)
Nice day to cost-down-average on PMs, by the way. BTFLL!
that was pretty good.
I'm buying up all the even prime numbers.
No way they can make more of those!
Sell gold while its still worth any bitcoin
LOL... that was cute.
In actuality - BUY BOTH.
I did sell 1kg silver to buy 2 bitcoins 2 weeks ago, and so far it seems a prudent investment.
21 oz for a digit on a computer screen.....THE PEOPLE IN THIS WORLD ARE NUTZ!
31oz for the joy of watching hourly increments to that digit.
Let them hammer all they want. Who cares? The BTC crowd is going to be "another thorn in their side"...
As long as Congress doesn't get involved......I wouldn't worry.
@ GetZeeGold:
I've been saying, for a long time, that BTC is NOT going to be the "subversive threat that pro-BTC people think it will be";
Admittedly, I was wrong, months ago, when I said
"Bitcoin will never see $260 again".
I WOULD BE HAPPY TO BE WRONG, AGAIN.
Not because I own any (I don't), but because I'd love to see "The Man" squirm a little MOAR.
So, if the BTC-Crowd can make it happen, I Say, Good For Them!!!
Go Gold, Go Silver, Go Bitcoin!
F**k the system. F**k the status quo. Job-well-done, and drinks all around...when you see them floating past you on the riverside.
Pity my error, bragging when I bought at 44 and sold at 96. Pride goeth...
Nobody ever went broke taking a profit.
Missing out on profit is not the same thing as a loss.
I still regret not buying the 2000BTC for GBP1500 waaaay back in the day. Twice I had that trade lined up and twice bailed. Ended up buying 20BTC for $20. Cashed out for gold & silver from Amagi metals at 1BTC=$250.
>> Who cares?
Actually, I do. One thing pecular to the gold folks that I don't see any other place, is they love to see the price of their purchase go down. Odd that. I generally like to buy things and see the price go up. I guess I've got a lot to learn about this gold thing.
Me too. Gold and silver are honorable but bitcoin will be the sand in the gears of the manipulation machinery that will grind it to full stop.
Hence....Bitcoin will be destroyed by the powers that be.
Thats really my problem w/ BTC. Its not unstoppable. Its not without its flaws.
Well of course we like to see the price go down. Who doesn't like to see their favorite things go on sale?
Bring out your dead, bring out your dead.
Roll out the BTC bashers. Who are probably pissed at themselves, because they coulda, shoulda spent ONE single ounce of gold on BTC when it was cheap ($1). 1600 BTC would look REALLY good right now, for that mere HEDGE of 1 oz.
I continue to be utterly amazed at the 1-variable, the black+while, the either/or investment mentality of many bloggers here, who keep making it a gold vs. BTC argument. This mentality is an example of failed reasoning, and a red herring.
The key takeaway is: ANYTHING* that takes USDs/fiat out of circulation is "good".
Re-read the previous sentence over & over, till you get it in your heart & soul, not just your head. /Read slow, in case I typed too fast for ya. /sarc**
* Barter, Cash, Gold, BTC or any other cyber-currency.
** A smart-ass reference to "An Irish mother writes her son" http://abitoblarney.com/letterfromirishmothertoherson.htm
+1BTC
I hear you and the desire to participate in BTC is high. However, I cannot avoid but to think that BTC is just a distraction aimed at herding investors away from physical gold. BTC is like a shining light attracting those of us who hate TPTB and want to establish a honest monetary system. When the time will be ripe, TPTB will snap its finger and outlaw BTC with the flick of a pen writing a new set of laws. And those who invested their hard earned savings into BTC will lose everything and TPTB will have succeeded at 2 things: 1) millions of dollars will have been invested away from physical gold for a prolonged period of time, 2) Those who oppose the Money Masters will be taken to the cleaner and loose everything.
When I see China’s, Russia’s and so many other central banks hoarding gold, it tells me that at one point in the future, gold will shine again.
I don’t hate BTC. I think that the concept is great. But I can’t help but think that a lot of people will end up being hurt by it at some point in the future. And I hate to think that the Money Masters are actively using BTC to divert investors’ money away from real physical gold and silver.
Coinabul.com
Purchase gold and silver in various popular forms (eg ASE/AGE) using BTC.
Transmute bits to bullion. Modern day magic while it lasts.
Tabarnaque, there is a depressing ring of plausibility in your speculation.
The key takeaway is: ANYTHING* that takes USDs/fiat out of circulation is "good".
Buying gold takes USD out of circulation. Because you're indirectly buying it from the banking cartel reserves. So the USDs you give them come back home and are redeemed.
But how does BTC take USDs away from circulation? If I bought some, whoever sold them to me would have my USD then.
Exactly. It only works assuming the person receiving the USD then converts them back into BTC, or if he buys 'BTC mining equipment', which obviously, when the 20 m limit is hit, won't be a viable option any more (2020?).
In either case, they're still in circulation.
USDs are only redeemed when you buy gold from the Fed, or when you pay back a loan.
Or (soon to come) if you burn them for heat in the winter.
BTFBTC !!!
BITCHEZ !!!
Tell me why there won't there be 21 million more zitcoins and 21billion more titcoins in the future? Bitcoin is essentially just a combination of a pyramid scheme and a trading platform and if profitable there will be more of those in the future. You can't create artificial scarcity and expect it to be there forever!
there goes the dry powder.
Good news for non fake money fans everywhere.
As soon as they list derivatives on BTC on the CME then they will monkeyhammer BTC as well.
THANK YOU GOD!! :)
I'm loading up with my christmass bonus once again. Knock off another dollar and daddy's happy :)
"I'm loading up with my christmass bonus once again"
Chrismas boner bitchez!
YOUZE Guys still get Christmas Bonuses ??? I haven't seen one of those in 14 years !!!
BTFBTC !!!
Gold getting bitch slapped daily. Has anyone asked the dog ugly FED head Yellen what her price target is for paper gold? You know the price at which all the banks shorting it on order are all bankrupt and need more bailouts?
2000 on the S&P is in the bag bitchez.
buy
Seems that wealth transfer gold bugs anticipated already happened in bitcoin.
fixed it:
Seems that wealth transfer gold bugs anticipated already happened in REAL ESTATE
Well I for one can't wait to find out. The last time I bought physical gold it was less than $300 an ounce. Have been buying silver since it hit $19. Wake us when all those bitcoin people start taking delivery of physical. If bitcoin really has all the "value" that people claim, then it will be the hyperinflationary event to end all hyperinflationary events.
Until then, I know lots of folks saying "look how much my bitcoin is worth", yet they aren't doing a damn thing with all that "wealth".
Gee I wonder why?
Who needs gold ..moar Pu.
Nuclear is forever...bank on it.
.......impeach Ogeiger
Capitulation yet? Retail investors have been burnt hard as demonstrated by the deep outflows in the GLD/Gold ETFs. Setting up for a nice buying opportunity. Still could get much worse, but I'm adding some miners here.
see @Eritrea
not me. i love the miners....so cheap, jesus, and GORO pays a 6% divvie. Insanity.
this is like watching folks throw money on the ground and just picking it up.
Guess I better trade my gold for BTC huh?
Hahahahaaaaaaa.
I'm going to have enough money to buy the Sydney harbour bridge from that guy, after all.
Bitchez.
Gold drops $8 bucks and "down goes gold" ?
The histrionics at ZH is getting silly.
We're trying to get the last of the CNBC viewers.....just consider it some sweeps week silliness.
down 32% 'on expectations the FED will pull back stimuli...'
yeah whatever
I think this says it all.
http://finance.yahoo.com/q/bc?t=1y&s=GLD&l=on&z=l&q=l&c=spy&ql=1
excuse me, but, JPM needs to take the last of the actual gold held in GLD, if there is any, to meet Dec delivery. If 3.5% of current contract holders show up and ask for bullion, the game is over.
70:1 levered now. nosebleed central.
but i don't see bubbles, do you?
I have been hearing this "unable to meet delivery" story every month since the april smashdown. I am not trying to be a dick here, but that story is crap. Everyone is apparently happy to settle in cash.
I keep hoping that all those bitcoin holders start buying gold and taking delivery. Nothing changes otherwise. Will certainl help those of us who have been stacking since 1980. Bring it!
Yeah everyone is happy... until suddenly Nixon shows up in TV, and then they aren't happy anymore.
The day will come. In the meantime, I keep stacking.
Phase changes, by their very nature, are both sudden and unpredictable, and invariably take the vast majority of both the sheeple and the enlightened by surprise.
Well, you can't actually take delivery from GLD unless you're a giant institution so the charade will continue.
Down goes Frazier, Down goes Frazier.
ZH has become a bitcin shill, gold is now bad. /s
I believe you are correct sir.
did you not look at the chart? it shit the bed to the tune of 20 bennybux in nanoseconds. the price you mentioned was after the snap back...
And it was right back up an hour later. Check the chart.
ZH has shifted into virtual reality (aka btc)...
i think silver just close that gap from august on a weekly chart.
The Comex is a fraud run by the American Jewish banking cartel.
Read up on how courrpt we have become: http://www.silverdoctors.com/the-comex-fraud-is-growing-larger-69-times-more-paper-than-gold/
D.C. and Wall St. are just one huge crime syndicate breaking/ignoring laws every day
If you continue to combine this crime with a religion you take away the personal responsibility perpetrated by individuals, who I assure you, spend more time playing golf then praying at a temple.
So, in the future, please blame the American Golfing banking cartel in the future --- thank you for your consideration.
+1
Why don't the Chinese, Russians etc bid the paper market and take delivery, at least support it, just don't understand why they don't do this, or are they biding their time?
Why buy paper when you can buy dore bars?
They prefer to buy gold in private.
and maximize the OZ per $
before the $ is toast
its not just the fed that kill the gold/silver price. chinese sell paper PM too. so thay can load the truck whit phizz on the dip
jubber
For the same reasons that the Chinese were instrumental in helping the American Government haul away the crime scene and Russia's Putin looked the other way when asked if 9/11 was an inside job!
You answered it correctly. Just biding their time and getting that much stronger in the process.
Just another failed tool in the handbag of the Fedup!
Really who today with half a brain gives a rubber duck what the dying on it's knees financial cabal does?
Don't answer that it's a rhetorical question!
chill out everyone, it is just a small dip ffs.
stay focused on the long term or are you guys in this for a short trade and quick profit?
i am in this game for the next 10-15 years, maximum.
peace out bitchez!!!
buy an OZ today and help drain the beast
No kidding. Between the panic and all the bitcoiner scammers, ZH is hardly recognizable from two years ago. Just goes to show that greed will always trump good sense for many people.
and there goes "paper" gold and "paper" silver. BTFD folks...phyzz, that izz...not that paper shit.
China, says thank you once again for cheap gold bars and scoops up more real wealth to add to their many tonnes of the precious stuff and laughs
perhaps it is china (or a proxy) that is forcing the price down to drain LBMA and COMEX and get the most OZ for the $buck
it definitely is, and the traitors dwelling on our soil and in the UK aren't doing much to stop it, so they can maintain their status quo. until they can't.
is it gold?
or is it paper?
or is it just an entry in a computer database?
Someone continues to smash the price until the very last ounce of the remaining 587,234 ounces in the registered COMEX inventory has gone. But no worry, once COMEX inventory is empty they may get a refill by GLD.
I think it has something to do with the big December delivery month...COMEX is panacking
Bang dat ho... Hi Ho Silver.
What is Bitcoin?
Is that a philosophical question?
The stuff that jingles in Mr. Galt's pocket.
I would hold off on buying as it may be going lower yet, could see a smash down to the June lows within the next 15 days or so.
We have the release of the Fed minutes this Wednesday and the jobs reports on the Dec 6th.
And we all know what THEY like to do around such times.
I wonder who will be purchasing gold and silver mines when their prices to produce become too near to the spot price.
That'd be a real giveaway
Bitcoin has a chart that reflects supply and demand. Gold does not yet have that. It is shocking to see what a free market looks like after 40 years of leveraged derivatives setting prices at the whim of the central planners...also making it unprofitable to run a business in the process.
And Gold & Silver Are Roaring Back ...
Need to update the headline to reflect both PM's recovering all of the 'plunge' within 45 minutes.
Somebody just wanted/needed to buy some cheap physical so they crashed the paper price. Prices back up where they were now.
Jesse: COMEX Claims Per Ounce Of Gold At 69 To 1
Jesse has updated the latest information from COMEX and it has even higher leverage now: Fractional Gold Reserved System is run at the all-time-high leverage with 69 Owners per 1 ounce of Gold.http://sufiy.blogspot.co.uk/2013/11/jesse-comex-claims-per-ounce-of-gold...
Tylers, I'll repeat the question I asked you yesterday: Have any of you bought BTC?
Recently or a while back?
It's a fair question. :-)
Let gold and silver drop, like to $350 per ounce on gold, and I will keep snatching it up.
Just bought 10- 2oz freedom girls.
http://silvergoldbull.com/silver/2-oz-freedom-girl-silver-round
Actually an attractive coin, but "freedom girl" looks kinda slutty like she' just left an all nighter and can't find her crown.
In my opinion it seems like the frequent gold and silver slams combined with the negative press and "expert opinions" are an attempt to reprogram the idea that gold and silver are money to gold and silver are "barbarous relics" that have no value or "yield". This seems to be the case in the western world were confidence in Fiat and the markets must be maintained.
One can add to the chorus of all the gold-bashing in those "expert opinions" the disinformation of those who ignorantly or disingenuously claim that gold (and silver) is "just another asset class", as if it were merely and purely a commodity like antimony or copra, and not the fundamentally monetary metal with the millennia-long monetary history that it has.
The West to East transfer of gold explained for those that don't already know.
http://koosjansen.blogspot.com/2013/11/west-to-east-gold-distribution-up...
getting anhilated now...
BC/Gold/Silver walk in 2 a bar, while BC gets drunk, gold and silver pass-out before ordering.
People profiting in bitcoin should be trading some in for gold/silver right now if they know whats good for them. Sell high, buy low, buy low sell high. Simple right?