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30 Minutes Later - Markets Tapering (Gold Limit Down)
The initial knee-jerk taper-on move was met with reactive buying (as per trading guru Steve Liesman's wisdom) but that hope bounce (really only seen in stocks) has faded now and assets are pressing their extremes. USD pushing higher, Treasury yields higher, stocks and gold lower... Of course, all it takes is for one algo to get the idea of pricing in the inevitable subsequent un-taper and to send the entire risk complex soaring. Silver is now below $20 and Gold is Limit Down
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Bullard might have not been full of Shyt this time - http://hedge.ly/I3zTn3
Just so happens This morning, THE S&P HIT THE 61.8% RETRACE OF THE DROP FROM THE 1802 PEAK!
WAVE THREE DOWN DRAFT DEAD AHEAD!
http://blogs.marketwatch.com/capitolreport/2013/11/20/bullard-says-blunt...
The last time the metals were repeatedly hammered lower in obvious manipulation we got the Cyprus bail-in a few months later.
I wonder what those who know, know is coming next and prepping the markets for it ?
And this is what I said yesterday while the "imbeciles" (both bulls and bears) were misinterpreting Bernanke's speech and the futures were ripping higher.
http://www.zerohedge.com/news/2013-11-19/bernanke-speaks-spiking-eurjpy-...
http://www.zerohedge.com/news/2013-11-19/bernanke-speaks-spiking-eurjpy-...
Reminds me of my favorite quote from Forrest Gump.
"Gump -- you are a f%&$# genius"
Just stating the "f%&$#" obvious reality that for some bizarre reason the flock of sheep refuses to accept (in denial?).
Gump! You are a God damn genius.
You're going to be fed chairman some day.
You forgot to mention the EURJPY, which got slammed around 10:15 a.m. EST today.
Who knew what ahead of time?
Yesterday, a story ran stating that gold closed @ $1230...then was later corrected...interesting??? See comments which were not corrected like the body of the story was...this ran as a ticker headline that gold holds below $1230...before being "corrected"
http://www.marketwatch.com/story/gold-marks-slight-gain-holds-below-1230oz-2013-11-19?link=MW_home_latest_news
Taper happens and the money center banks are dead, fed govt borrowing costs escalate (they really don't care about Main St. - Just Wall Street and K Street)
Remember, Yellen is the dovish fed chair
Do people have that short a memory ?
Its another take down job, that's so obvious
"Let Us Pray"
The Bankers say, "Let them pay."
Looks like somebody leaked the Fed Minutes early according to the 10 year Treasury yield spike I noted here at 1:24 today
http://www.marketwatch.com/investing/bond/10_year
And I told you 1800 was the peak cause the Fed delivered it as promised a month ahead of time and that meant:
SO LONG AND THANKS FOR ALL THE FISH!
wave 3 = garbage.
Elliot waves predict nothing. No price, no date, no time-frame.
Take note, this is a good example of why mining stocks should be avoided like the plague.
and you know what....fuck em. I hope they all go bust. They are a bunch of vagina faces.
They are a bunch of vagina faces.
lol
miners have fucked themselves, hence fonz's above name is apropriate.
there hedges and sell out to paper gold-fuckem...
Until manipulation is off the table i would tend to agree. After that, they'll far outperform PM's.
Until manipulation is off the table i would tend to agree.
Yeah, that'll be the day.
The Miners are the ones manipulating the Gold Market. What does a Forward Sale mean to you? The Short is not naked. They are selling Gold that is still in the Ground and not refined. They are selling Future Production.
The Gold Miners are supressing the price of Gold. They are not doing this through Actual Production and flooding the Marketplace with Physical Gold. (Just how is the Inventory over at CME Group and the LBMA looking these days? Is it increasing or is it in DECLINE?) They are doing this through selling Gold which is in the Ground and unrefined...A PAPER PROMISE.
Their Profit Models are MYOPIC.
How are my GOFO rates doing? I do not know. Are they in the Red Ink again? My bet is that if they are not bleeding red then they soon shall be.
When the Miners go bust is when Gold Prices take off. First that will restrict SUPPLY. Next they will no longer be able to Forward Sell as they are no longer in business.
Why is it that so few understand Gold?
From "Gold Wars" Ferdinand Lips, pg.157
http://ebookbrowsee.net/go/gold-wars#.Uo0sFSDTnIU
"How could this happen? The price of gold, which had been steadily falling since spring, suddenly surged from $269 to $307 per ounce within a week. There should have been much excitement about the sudden increase of the gold price, but there was nothing but despair when it became apparent that for some participants and in this case it was Ashanti a rising price meant ruin. Ashanti had entered into thousands of derivative contracts (over 2,500 in all!) with no less than 17 banks, including Goldman, Sachs, Ashantis main financial advisor. According to The Financial Times of December 2, 1999, Goldman sold a wide range of financial derivatives to gold companies.31 It was the leading member of the so-called big-four of investment banks with whom Ashanti traded. The others were Credit Suisse Financial Products, Societe Generale of France and Switzerlands UBS. "
THIS IS DEMONSTRATIVE OF THE PRINCIPLE.
I strongly suggest you READ THIS BOOK.
The filename that you want is
Gold Wars 0-9710380-0-7 - 01.21.02.pdf
Scroll the list on that page. It is free.
The other book that is a MUST READ is "War on Gold", 1978, by Anthony Sutton.
I cannot find an online copy. But it is a must.
I do not mind the Down Arrows too much. But what I do mind is the IGNORANCE.
I don't know if what you say about all miners is correct (I wouldn't think so), but Barrick has been at the forefront of helping to suppress the gold price for over 15 years.
You can't forward sell that much gold - there isn't any. It's not even in the ground.
People who aren't the Fed go bankrupt doing that.
People are the fed print up the losses: the official legal counterfeiter.
So who's buying them?
Tapering on the table?? Well what the fuck else are they going to talk about at the December meeting??? How much VOL K. Henry has naked shorted this year??? How much open interest the NY Fed desk has accumulated in ES??
Why didn't one senator ask Ms. Yellen if she was aware of any other securities/positions that the NY Fed desk had accumulated other than the UST & MBS they are supposed to be buying? Ms. Yellen claims she will be transparent, well their trading book needs to become transparent. Pronto.
So tapering IS tightening....got it.
and the bernak and the rest of the fed members are taking McDonald's advice and dancing and singing.
http://www.youtube.com/watch?v=sVzvRsl4rEM
and all the while folks are waiting for foreigners to punish the US for it's printing and "dump Treasuries and the dollar"
BRICS holdings of US Treasurys from '06 up through Sept '13 (according to TIC)
'06 - $413 B
'08 - $778 B
'12 - $1.692 T
'13 - $1.761 T
Do these look like countries trying to "get out of the dollar"...can break down by country if anybody cares but suffice to say they all increased massively and (aside from Russia which is a little under it's '12 record high) are all @ record holdings...even during '12-'13 when US deficits reduced from $1.7 T of '09 to $700 B of '13...not even a roll off in holdings while Fed QE buys all new issuance...junk away haters of actual data that doesn't conform with your expectations (or logic of negative consequences for horrific policy)
Got it...don't let 'im leave the room...even if you come and get 'im.
MP reference can always help one to look on the bright side of life...thnx
The BRICS were paid in UST's by the FedRes for their losses in the RMBS frauds.
Those holdings they now have are in the short end.Right by the emergency exit.
Why are you believing ANY Govt. stats at this point.Easier to believe in skittle
shitting unicorns.When it gets serious, they lie.
Nikkei still well green
this market is a joke ...
Tapering is like saying I kill you. If he has a gun you should be careful. But when he shoots there is no bullet. I talk about depressing gold.
I love it when gold goes on sale, and silver too.
Couldn't resist Bernanke's temptation and just made my second shiny order this week, but for fuck's sake I can't grasp that physical is still available at these prices.
Anyone else just crack open a beer?
Nope, fresh bottle of bourbon :-)
Oh man, I'd love a scotch right now but I'm taking decongestants for a head cold...
Well maybe just one...
When the whole thing goes belly up, you can trade me all your BTC for a couple bottles of Blantons
In the new Digicash reset I will set up the first ever exchange of BTC for Quatloos.
Not yet. Hitting the coin shop first.
LOL
You people will not learn, will you?
Take a good look in the mirror.
You just do not get it, at all.
There are over 179,000 Metric Tons of Gold that have been produced throughout History. The vast majority of that Gold still exists.
The United States Government supposedly has 8133.5 Metric Tons. It is currently the World's Largest Institutional Reservre although I cannot say with certainty how much the Vatican has. Germany pipes in 2nd Place with 3408.3 Metric Tons. Following that is the IMF with 3217.3 Metric Tons
The combined official holdings for all countries amounts to 30 thousand tonnes,
Source: http://www.zerohedge.com/article/gold-holdings-country
So how much does the Vatican hold? Using the information in the following article we can back into that figure and get an estimate. My bet is it is not that much.
From http://www.toughissues.org/handoutsnew/Wealthy%20Church.htm
“The Vatican’s treasure of solid gold has been estimated by the United Nations World Magazine to amount to several billion dollars."
This article was published in October 2009 but claims that the information is TWO DECADES OLD.
The price of Gold in 1989 was roughly $400 per Ounce. Doing the math to convert that to Metric Tons, using $5 Billion as a basis (that is several...not a couple or a few...) is 12,500,000 Troy Ounces Multiplying by 31.103 and dividing by One Million to get the Metric Tonnage yields...388.79 Metric Tons....not that much. So let's give the Vatican a break and round that figure up to 400 Metric Tons...
So we will add that 400 in to the 30,000 Metric Tons reported by the ZeroHedge article...
What Percentage of 179 Thousand Tones is 30.4 Thousand Tons? Why that is 16.98%...roughly 17%
What can we infer from that number?
It means that 83% of all of the Gold in the World is owned by PRIVATE PEOPLE. They are not selling it.
First they are much richer than your broke ass.
Second there is absolutely no INCENTIVE to sell in a DECLINING MARKET.
The rich buy into Declining Markets. They sell into ADVANCING MARKETS.
That is why we are rich and you are not.
If the Stock Market is advancing it is time to sell Stock and garner a profit. If the Real Estate Market is advancing it is time to sell Real Estate and garner a profit..
The Rich buy into DECLINING MARKETS and Sell into Advancing Markets. That is how they get rich.
It is a Time Honored Practice. Perhaps you ought to learn it and become Rich.
But...but...but you just never learn. TAKE A GOOD LOOK IN THE MIRROR, DIPSHIT.
We have been trying to tell you. We have repeated this message on these pages forever and a half. But I guess that you are too dim to understand the message. And that is why you are not rich as you know it all, know everything..
Understand your Down Arrows now?
Why the hostility?
Probably because most proclamations preceded by "you people" means the proclaimer has delusions of grandeur.
You're the one needing to learn. LCS = value ; bitcoin = loss
Any IPO is going to insane levels in this market.
Make up a 3D printing or social media company with a catchy name collect billions.
Best time for any criminals to get an front con IPO going. Money is just flowing into anything.
Some ideas: "Make-it", "Maker", "Maked-in", "Make-agram", "Make-chat", "3dprintsocialgiveusyourmoney.com"
They better raise that limit down on gold, $30?.... The boyz can do better.
Venezuelan gold through GS to...?
http://gata.org/node/13264
Is this because Comex might go bust if they don't wash out the weak hands via taper talk? Gold is the only thing that will stop these crooks... are we getting close to that point where theire paper shorts blow up if they don't trigger a panic dump to cover into ?
So when they make clear they are doing QE infinity, gold goes down. When they announce they may taper, gold goes down. Okay, got it.
I think you've just explained the whole of centraly planed economy.
Everything and anything is bullish stock, bearish gold.
It matters not.
Whatever is in your posession, goes nowhere.
What a joke. It's not like gold got any boost from QE4EVA either, down 25% this year while equities have gone ballistic. Yet this empty threat of taper hits gold the hardest while stocks barely move. The logic is transparently ridiculous.
The only reasonable explanation is that the Fed wants it down and no-one will fight the claerly destructive and infinitely armed Fed (and in fact there are legions all too happy to collect the wages of sin by following the Fed instead).
Here's what I don't get about you gold and silver bugs: Why do you insist on owning a commodity that's so easily manipulated by the Fed?
Honestly, it's just silly.
Because when the SHTF, gold, silver and physical assets will be all that matters.
No, darling. Bullets will be all that matters. Nobody will give a shit about your shiny coin collection.
History proves that you are largely full of shit.
when you run out of bullets - and everyone does - you won't get any more without those shiney coins.
Define "SHTF".
And please don't tell me it'll be one of those End-of-the-World things, that American Protestant Bible-thumpers harp on about for decade after decade, century after century. The list of such bogus snake-oil salesmen and charlatans is a mile long.
If you're talking about a sizable crisis for some weeks or a few months, then Beans, Bottles, Bread and Bullets will be of far greater use and demand.
If you're talking about a "coming Gold standard", well, maybe it will go up a fair bit. But you only want enough PM for a HEDGE, not as a damn "get rich quick lottery ticket". We got enough HOPIUM from fucking Obama, so we don't need more investment Hopium from PM extremists (gold agents/brokers/shills) on ZH. I always get suspicious when people rant about PM too much on its way "up" (5-15%) or make excuses (30-40% down). That makes them sound NO different than sleazy Wall St brokers or sleazy Real Estate agents.
Bottom line:
1. PM is and will continue to be in a SIDEWAYS MARKET.
2. Buy some as a hedge, make it part of a well-diversified portfolio (10-20% in PM), and forget about it.
3. Resume a real life. Or get one.
United States of Syria.
United States of Zimbabwe.
>> Here's what I don't get about you gold and silver bugs:
Hey, you know, I've not ragged on you bitcoin folks, actually congratulated you and wished you well. But why don't you go fuck yourself?
Hey, don't be so hard on him. I'm sure his (not so local) farmer will trade a side of beef or bushel of grain for his btc.
Most people don't truly believe that ts will htf. Not deep down where it counts, so that you make genuine preparations.
Maybe they're right? They are so far.
Guess I'm a nut.
My normalcy is biased toward chaos.
Everything imaginable eventually happens. I can wait.
Gold and Silver will carry your wealth across a currency reset. To think that the BIG GOVERNMENT is just gonna lay down and say its over, you don't owe us your debt is silly. They will replace it with some new currency and everything you owed in USD will be converted to the new currency of their choice. Wait for the gold and silver to balance out and there is your wealth. That isn't to say a "bail' in" like Cypruss isn't going to happen and what ever you do not posess will be confiscated.
“With respect to personal finances, in virtually every national currency devaluation and major political upheaval in the past, gold has represented sanctuary for the affected people. Gold has not just preserved wealth, but personal freedom as well. While governments can devalue fiat currencies, they cannot, by edict, devalue gold. Yes, they can try to manipulate its price, but unless all governments join in the collusion, ultimately the price will return to market. The market for gold is global, and demand exists in all nations and among all peoples. Should the government attempt to confiscate gold, it will be an outright admission that the financial system is collapsing, and the people will know better than to hand over to a corrupt government their only means of survival. The most important point is this: devalued currencies never rise again. Once they are destroyed, they are gone forever, and those whose wealth had once been denominated in them are wiped out. As you have no doubt heard before, not one fiat currency has survived over time, and that is an indisputable fact. More significantly, no fiat currency has ever suffered the abuse that has been inflicted upon the United States dollar, meaning that it is at extreme risk. Gold has been money for 5,000 years. It has not merely survived, it has prevailed over each and every fiat currency collapse throughout history.
Given this, the most important financial question a person can ask him- or herself today is: How is my wealth denominated at this time? And given its denomination, is my wealth likely to be safe in current and evolving circumstances?”
-Stewart Dougherty - Specialist in inferential analysis, the practice of identifying historic and contemporary patterns and then extrapolating their likely effects upon the future. Dougherty was educated at Tufts University (B.A., magna cum laude), and Harvard Business School (M.B.A. and academic Fellow) – March 2010 -
because it's got tangible value no one can remove and because it's LESS manipulated than bitcoin, oil, land prices (which can be ZERO meaning tax-liens can lead to confiscation of your property) or bonds (which as revealed by LIBOR are completely manipulated)
BTFD...and thx for the Nanex charts Tyler. That's all you really need to know in this shitbox of a market.
Cue the gold and silver delays, shortages and higher premiums as they pound this thing down. Miners are losing money at these levels too. A very bad mix.
My condolences on your rocks not performing very well.
I don't think you are being sincere.
My condolences on your tunnel vision, your ten minute attention span and your lack of any semblance of historical perspective.
But have fun fondling your Shitcoin before it crashes. Oh, wait ... you can't, since it is only 'virtual'. Just like your girlfriend.
LOL
So much butthurt. My "shitcoin" is redundant on hundreds of thousands of computer across the world. Your gold is in a single location - easy to confiscate.
I can take my "shitcoin" with me anywhere in the world and it can't be detected by metal detectors or border agents. Your gold is easy to spot. I guess you could stuff it up your ass, but you're so full of shit anyway it probably wouldn't fit.
Shouldn't you be applying some zit cream right about now?
While you're at it, go plant some tulip bulbs --- at least THEY, unlike Shitcoin, provide something real to appreciate. But oh, that's right, one has to wait and have patience for literally months before they appear --- far, far too long for the infantilized, 20-something, ADD-afflicted, historically clueless technogeek squad.
Prices are just signals. Austrian economics taught us that. Gold worked for a while, prior to computers and the Internet. But Bitcoin is a superior signalling system to gold. And you're about to learn that the hard way.
I wished you well with Bitcoin the other day. Now all I can say is piss off troll. And I've had gold since the 90's and $252, so I don't need your "sympathy" kiddo.
FWIW, Gold and Silver haven't even started the Mania Phase yet, which is still ahead of us, you fucking idiot.
the price signalling of bitcoin is SUPER-BUBBLE with BAG HOLDERS GALORE.
You obviously are market-illiterate.
LOL- so, you turned your $200 into $800, which now makes it your biggest asset... You're going to flee to Fiji, and plug your computer in where?
Of course you're the smartest boy in the room- your mommy always tells you that- you're the prettiest, too.
Funny that you Shitcoin tools still denominate in Dollars, tho- duh...........
Funny that gold and silver prices are still quoted in dollars, too. And it looks like I can trade fewer and fewer of my "shitcoins" for your gold and silver every passing day. ;)
Good luck with your bitcoin in a locked down internet and OS. Coming soon in a country near you. Unless you plan to trade with Linux users only.
not this Linux user.
"Your gold is in a single location" ... erm, no.
"easy to confiscate" .. erm, also no.
"Your gold is easy to spot." ...as compared to what? A bitcoin. I guess you've got me there. Atleast it exists.
"but you're so full of shit anyway it probably wouldn't fit" ...erm, no I just pooped, but I've also got a real small ass, so it still wouldn't fit.
Your bitcoin is in a single location - the internet - because foolishly it was designed so that if even a majority of the network is cut off all of bitcoin fails.
Gold on the other hand can be easily hid in several locations & it is.
You can't take your shitcoin ANYWHERE there's no grid. It's useless. All things which store or transmit bitcoins HAVE METAL IN THEM and can easily be detected and MELTED. At least if any of my gold is melted it doesn't lose value - it's still gold.
Ouch!
akak
Laughing... Ask Spykerspeed if he works at the NSA and knows Edward Snowden?
better than shitcoinz. Shitcoinz dropped from 900 to 500 in what, a day? Gold doesn't do that.
http://youtu.be/QVdtbUuMQ-g That's suckerz in bitCON watching their money EVAPORATE in just seconds.
Silver at 10$?????? I can always stay at an extended stay
Really 10? Too bad my LCS will be either sold out or will have a $15 premium...
Avoid LCSs. Takes them a year to take it on the chin
what a circus .... Yellen says white , bullard says black , bernank says white ... who are these people ??
they are charlatans, thats who...the Great and powerful Oz
Male announcer: The white zone is for immediate loading and unloading of passengers only. There is no stopping in the red zone.
Female announcer: The white zone is for immediate loading and unloading of passengers only. There is no stopping in the red zone.
Male announcer: [later] The red zone is for immediate loading and unloading of passengers only. There is no stopping in the white zone.
Female announcer: No, the white zone is for loading of passengers and there is no stopping in a RED zone.
Male announcer: The red zone has always been for loading and unloading of passengers. There's never stopping in a white zone.
Female announcer: Don't you tell me which zone is for loading, and which zone is for stopping!
Male announcer: Listen Betty, don't start up with your white zone shit again.
I am pretty sure Yellen says "I need a face transplant"
Just a magician's act. A diversionary 'explanation' to use when they hammer gold.
Of course, some days they just hammer it and don't bother fabricating 'explanations'.
This completely fiat paper printing act has only been going since 1971, only 40 years.
No paper fiat trick has lasted long term.
And people are going to put that up against gold with a history going back thousands of years ?
Or against some new 'digital currency' ? (Got nothing against it, because I don't know enough about it. I do know its very new on the block).
Hit my target percentage allocation quite some time ago. Haven't been adding to the stack, but aren't getting rid of any either.
Heard Jim Rickards on Keiser recently. He said the very wealthy historically put their 'survival' money into real estate, art, and gold. China, India, and Russia are buying gold like crazy. But I guess some here 'know better' lol
More power to them. Doesn't matter to me.
"On the other hand, if you're very safety conscious, you hold on to your gold bars"
-Evelyn De Rothschild, December 10, 2008. CNBC Interview
Because they know that the markets should be a reflection of the job they are actually doing, and because the markets would say that they are blowing chunks without their massive market manipulations, here we are.
The price to pay for this malfeasance will be beyond severe.
The laws of economics will not be denied forever.
had an order on the computer for some 1 ounce Pegasus Rounds over at Mark Maloney's (GoldSilver.com)site up for 2 days without pulling the trigger cause i felt a disturbance in the force that i knew was an imminent takedown culiminating with Bernanke Bullshit session scheduled for today...
thanks yet again u cocksucking mother fucking bitch ass MoneyChanger sociopaths...
no need to drop the big bomb as long as you assholes r gonna make dollar cost averaging so fucking easy a caveman could come up....
KEEP STACKIN.....
10 Year @ 2.78%....Even with all the 1.5 Trillion QE, Taper & Non Taper endless QE Talk...Words are having less of an impact. Need more P/E Multiple expansion..Only Gold 2000 or 3.00% 10 Year can bring this madness to an end.
John, David Einhorn nailed this a while ago. This move in the 10yr is not the move you think it is.
"If the Fed's hope is to drive investors into equities, propping up the bond market is counter-productive. While there are many parts of the cycle where higher bond prices fuel higher stock prices, at this point in the cycle the relationship has reversed. In recent months, stocks and bonds have developed a strong negative correlation -- what is bad for bonds, is good for stocks. The Fed does not understand investor psychology: If you want to get people to sell bonds and buy stocks, the best way to do that is to show them that bond prices can, and do, fall."
They can't.
The FED can't afford to have bond prices fall. That's the big issue for them. They blather on about 'taper' to maintain credibility with the mainstream, but at the end of the day, once the bond market rolls over they're fucked and the game is over. That's why they can never actually taper.
The move in relationship to home sales and mortgage rates however would demolish this illusion of an economy...how much more yield is there to find in equities (AND THIS IS BEFORE A FURTHER DOWNTURN WOULD IMPACT EARNINGS)...ZH has already highlighted how rich these P/E's are...Besides I do not really see anyone aside from Ben & foreign investors buying our debt..the days of the little guy buying bonds I believe is long gone with this non-existant savings rate...
everyone who could refi, did. Everyone left is either buying cash or can't get a loan. The long end will drift higher. We will see 3.5% in the 1st qtr of next year, and equities may take a breather and then they will climb higher.
Interest expense on the debt Fonz. I don't think they can allow the 10 yr to rise. It has nothing to do with consumer rates.
I think twist helped them with that. I don't think much of the debt is financed on the long end anymore. By the time they are done the debt will be completely financed at the short end. That, to me, seems to be the plan.
It could be, but I thought twist just offloaded foreign-held long-dated debt onto the FED. If the Treasury shifts all their exposure to the short end, that seems to me like it would be game over pretty quickly. They'd have used all their bullets at that point.
I hear you man. It always comes back to the dollar with me. I think the fed is willing to gamble on some perpetual QE at the short end to keep rates at 0%. To be honest it seems like they will patch every hole however they have to until they own the whole thing.
Sounds like a 'Fukushima clean-up' for the Central Banker establishment.
Good thing ZH is posting "Ketel One" vodka adds at the top of this page.
Watch for the Hi-Fiving and whooping when AG goes from $20 to $23. "15% up! Wow." /s
Yep, and when Bitcoin goes to $2000 and then falls to $1770, ZeroHedge will report that as a "crash".
Dude, you have no metals and never did...you missed the move from $200 an oz. to here [regardless of it's percieved drop against federal reserve notes]. So you talk shit. Bitchcoin is Nasdaq 1999. Anything tangible is better when the "lights go out" son. See anyone selling pure PMs on CL? You wouldn't dare or you'd be the next loser in "Knockout King". History of 5000 years says your wrong.
you mean $400 to $800 then to $70
looks like the gold bulls just got castrated.....can't wait to read all the gold manipulation stories again...gold is heading to 800....sorry guys
why be sorry. can't wait to buy at 350 again!
LOL
Neither can I, old man. Neither can I. :)
My offspring thank you, by the way
Please? Please $800? I cant wait!
V
800 per gram, yes it is. BTC too (oh wait! BTC weighs 0.0000000 grams so....)
Middle class (what is left of it) is wondering how they are going to pay for their meds and doctor visits with their policiies being either cancelled or skyrocketing premiums and high deductibles. They will start to cancel non essentials, not buy new stuff, and definitely cut back on all spending with this much uncertainty on their expenses. Businesses will also. This could be the beginning of a very deflationary trend until this healthcare mess is resolved or repealed. There is so much deterioration of credibility that it will have some effect on future purchasing decisions. However, this bifurcation between PM market and equities just does not make any sense at the moment.
Somewhere, in some dark and dank corner, Jeffrey Christian and Jon Nadler are both jerkin' the gherkin.
Wait for 3:30 remarks indicating tapering isnt on the table from fed member.
Given bitcoin's recent upward price movements and today's drop in PM prices does anyone have any sort of general insights into the trends of the relationship between the two (even if only during FOMC releases)?
Bitcoin's price action and the fervor of followers has a very "Black Tulip Mania" feel about it.
Western Central Banks are desperate to prop their fiat currency schemes, therefore PM's are punished as they compete with "favored" stores of value such as binary digits in a bank, real estate, equities, and the fiat itself.
Asia is buying Gold because they know that sooner or later tangible stores of value trump fantasy valuations of currencies and equities propped by central bank magical printing of money from nothing (debt).
As to Gold/Bitcoin; it's possible Bitcoin is taking value away from Gold and other PM's as some choose to convert their fiat to Bitcoin instead of PM's (article here on ZH recently discussing this). PM's - and especially Gold - are valued the world over, and they don't require electricity, an ISP, or a computer with a MAC address.
Thanks
Bitcoin doesn't sell for a 20% premium to spot in India.
no, it sells to a 100% premium or 50% loss to the week before.
Talking about any ratio of Gold to Bitcoins is absurd. WTF.
"Baffle 'em with Bullshit" in full force.
Look at the price of gold falling. You better sell it all to me now before it becomes worthless!
iran's going to dump alot of precious-medals on the world market it's been hoarding for several years-- payments (hard assets?) from india, china, pakistan, et.el., once Geneva Accord is agreed upon...
jmo
for food & machinery, for weapons but not for paper.
Everything according to plan now.
Long predicted 18xx was achieved.
Now down we go.
Some markets even sharply.
Possibly for the rest of the year. And even into Q1 and the next fights of Dems/Reps.
With ups and downs of course.
Around SnP 1750 is next target and support.
There markets could reverse.
Of course just my opinion which could be dead wrong.
So anyway do your own decisions.
http://flic.kr/p/enJ7Cs Whut you talkin' bout, Willis?
I am trying to imagine what a vagina face looks like and I keep visualizing a little old white haried lady called yellen
Thanks for destroying the image of the female anatomy with your visual.
And when the 10Y goes above 3% they will come out and say 'just kidding on the taper'.
<-- /sarc
<-- trololololol
Wait, they can do that?
Tapering bullshit. It is the only equity volatility card in the deck, played by the dealers and the players. Churn, baby, churn.
As for gold, it brings a false method to their madness. The ruse is plain site when equities rip when the card is pulled and gold is left in the DUST.
And look what's not participating in the closing ramp. IWM is green. Fuck yeah.
I'm thinking of going long TLT, you know just to drive the 10 year over 3.5% and finally put an end to this.
That's a muppet move. As soon as the HFT's see too many people in that trade they'll shove it the other way & take all your money even if the ETF has to move opposite to the so-called correlations.
Gold and Silver have been thrown to the investment trash dump for some reason...there is a big push by the players to make it look like trash...at least in the west....I bet by next year the East will have bought enough of ours that we have panic among the vaults....they will no longer own it..but they will not let it leave their vaults....and the Eastern buyers will be pissed off....very mad....
I'm pretty sure that when Eastern buyers buy, they literally take delivery. Hence all the traffice through Swiss refineries.
Mine isn't an investment it's an insurance policy. If I don't need it gets transfered to the kids.
Yep, very deflationary.
http://www.foxnews.com/politics/2013/11/20/second-wave-health-plan-cance...
Smart people buy good assets when they are low... not chase greed and hype .. when the stock market crashes and all hell breaks loose, i would sell gold/silver. then buy the blood soaked equities. Until then, I'm not interested in selling gold or silver.
Great strategy. Dow to Gold ratio 5:1 - 1:1. Has not been there very often but when it does it's always a win.