This page has been archived and commenting is disabled.

Gold And Silver "Bitcoin"-ed As Stocks Are "Baumgartner"-ed

Tyler Durden's picture





 

Whether it was President Obama's call for moar debt, less spending cuts, and a safety bid from his implicit end-QE comments, technicals from moving-averages, or reflections of the USD weakness; precious metals are surging this morning... Stocks are tumbling further (as are bonds) back to EURJPY-implied levels... call for gold bubbles in 3...2...1...

 

 

And stocks have recoupled with the all-important carry trade...

 


- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Wed, 12/04/2013 - 14:25 | Link to Comment 12ToothAssassin
12ToothAssassin's picture

Silver <19 is a bargain!

Wed, 12/04/2013 - 14:33 | Link to Comment AllThatGlitters
AllThatGlitters's picture

Silver on Fire today!

Live Spot Silver Chart:  http://www.pmbull.com/silver-price/

I knew that was gonna happen. I chickened out of buying yesterday and the day before.

Wed, 12/04/2013 - 14:34 | Link to Comment Occident Mortal
Occident Mortal's picture

Sell DJIA
Buy Gold

Been saying it all week and posting big charts to back it up.

Doing very well already.

Wed, 12/04/2013 - 14:42 | Link to Comment BaBaBouy
BaBaBouy's picture

BITcoin May Be ""Backed"" By 1 Ozs GOLD ???

 

Here She Comes ...

Wed, 12/04/2013 - 14:50 | Link to Comment fonestar
fonestar's picture

I would be interested in how many of you have even bothered reading Satoshi's seminal work, Bitcoin: A Peer-to-Peer Electronic Cash System?

It is truly a tour de force in both banking and software engineering history.

 

http://bitcoin.org/bitcoin.pdf

Wed, 12/04/2013 - 14:53 | Link to Comment Oracle of Kypseli
Oracle of Kypseli's picture

Bitcoiners and those who have been riding the one way trade of the FED better exit now thatthe doors are wide open as the bottleneck will be tighter and tighter Even if you have to give up a few more shekels of profits, get out now.

Those who exit first get the most. So said the Oracle

Wed, 12/04/2013 - 15:00 | Link to Comment fonestar
fonestar's picture

Those who trade their BTC for FRN are going to be filled with regret years from now.

Wed, 12/04/2013 - 15:09 | Link to Comment AllThatGlitters
AllThatGlitters's picture

That depends on what they then trade those FRNs for now, doesn't it?

Fonestar, you may very well be BTC's worst enemy. Your over-the-top arrogance, foolish looking certainty and general attitude has probably turned more people away from BTC than towards it. You are like a characature of a clown setting himself up for a big fall.

Wed, 12/04/2013 - 15:16 | Link to Comment fonestar
fonestar's picture

I really don't care if you join the team, in fact I would rather see ignorant, dismissive a**holes not on my team.  Your country is already far behind the rate-of-adoption following China, Germany, Canada and many other places.

Wed, 12/04/2013 - 15:22 | Link to Comment Grande Tetons
Grande Tetons's picture

I think a lot of people buy PMs to protect themselves and their familes. This decision is probably tied to the belief that the system is stacked against them and unworthy of trust. Bitcoin may be the best option...no doubt...however, I just can not place my trust in something that I can not see or touch. Further, should PMs shoot to the moon...I would not rub peoples' noses in it either.

Enjoy your gains, Fonestar, but do not lose your humility along the way. 

Wed, 12/04/2013 - 15:44 | Link to Comment fonestar
fonestar's picture

Fair enough, I don't understand the whole touch=trust thing myself but to each their own.

Wed, 12/04/2013 - 15:49 | Link to Comment Grande Tetons
Grande Tetons's picture

Jerking off to porn over the internet as opposed to having real sex with some hot chick. 

That is my best explanation! 

Good luck! 

 

 

Wed, 12/04/2013 - 15:54 | Link to Comment fonestar
fonestar's picture

+1

Wed, 12/04/2013 - 16:50 | Link to Comment therover
therover's picture

Right..and when I am done fucking that hot chick, she always asks for cash...at least for now ! HA ! 

Wed, 12/04/2013 - 21:26 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

don't understand?
Historically what you can't touch later turns to a value of zero because what you can touch needs to be used.
Silver coins (money) were melted into silver spoons, needed for eating.
Can't do that with bitcoins.
you don't understand: a primary core purpose of money is it has a non-monetary use, a consumable, a tool, a medicine.
That which has ONLY the purpose of money by definition CAN'T be money.
You just pig-headedly think otherwise.
Reality will kick you hard in the balls to teach you that lesson.

Wed, 12/04/2013 - 15:24 | Link to Comment AllThatGlitters
AllThatGlitters's picture

Your country? I haven't disclosed "my" country. Your tendency to make assumptions betrays your true level of ignorant arrogance. 

"I would rather see ignorant, dismissive a**holes not on my team."

Well that's a problem for you then. How, prey-tell, can you not be on your own team, fonestar?

 

Wed, 12/04/2013 - 15:34 | Link to Comment fonestar
fonestar's picture

Regardless of where you live, time goes forwards and not backwards, there will always be currencies and technology will always be advancing whether you like it, understand it or not.

Wed, 12/04/2013 - 16:09 | Link to Comment AllThatGlitters
AllThatGlitters's picture

LOL. Blathering a bunch of platitudes will not make your half a bitcoin go up to $2,000 either, like it or not.

Yes, technology advances. I understand that. I understand that the first mover in new technology is not necessarily the one to win. Remember Netscape Navigator? How about AOL?  Infoseek?  

I also understand that there will always be governments who will do whatever they have to in order to collect taxes. I also undersand that collusion among central banks who operate without borders, for their own benefit. Thus, even if citizens in the U.S. are not adopting BTC as fast as other countries, it doesn't matter. The Fed in the U.S. acts in concert with TPTB in other countries, including China, where BTC is technically illegal.

Your inability to recognize or even discuss the risks with BTC, and your arrogant dismissals of criticism with nothing more than BS platitudes (or gross mischaracterizations of those who raise the questions) betrays you as either a pumper looking for the greater fool, or the greater fool himself, unable to assess the thing he's fallen a little too much in love with.

 

Wed, 12/04/2013 - 17:15 | Link to Comment fonestar
fonestar's picture

That's hardly true.  In fact I have consistently said that you should not invest in something you do not understand and to those that do, allocate only a small portion.  I lived through dot.com, remember Netscape Navigator and others, worked for a Nortel subsidiary at the time.  I would hardly compare a web browser to the world's first p2p crypto-currency.

Wed, 12/04/2013 - 18:39 | Link to Comment AllThatGlitters
AllThatGlitters's picture

I would hardly compare a web browser to the world's first p2p crypto-currency.

 

I wasn't comparing them. I was pointing out that an early leader in tech does not a winner necessarily make. You missed the point.  "World's First" does not mean the ultimate winner.  

 

Now, given that an actual currency intended to replace fiat is bigger, more important, and more likely to affect the livlihoods of those that deign to rule over us than which brand of web browser dominates, the liklihood of some other solution unseating BTC (and that brings control back) rises, not shrinks.

Wed, 12/04/2013 - 21:44 | Link to Comment Metal Minded
Metal Minded's picture

"including China, where BTC is technically illegal."

I don't think so. As a matter of fact, the current bull run in BTC, which began 11/06 @ $262(and which shows no sign of abating, ~1124.8 USD global average at present- https://bitcoinaverage.com/#USD|nomillibit) is the result of Chinese CNY coming into the market after the Chinese Government gave BTC its blessing through multiple media outlets. 

Cryptocurrency is a tiny market(currently about 1/2 of AG), and I believe smart money is allocating a small amount to this asset class, getting in before the possible inrush of the herd. Hate on it if you wish, but consider it an highly speculative play diversifying into a potential new asset class(only allocate a little to the class).

And for those who understand and hate the current FRN, money as debt, fractional reserve banking, etc, consider the real possibility of Cryptocurrency being the death of the USD and the rest of the world's fiat.

Wed, 12/04/2013 - 20:13 | Link to Comment Exponere Mendaces
Exponere Mendaces's picture

Actually, "AllThatGlitters" you guys MADE fonestar what he is.

We'd love to explain to you rationally, without over-the-top emotion - but you know what? You guys make it IMPOSSIBLE to be heard over your seal-like barks of GOLD GOLD GOLD and whatever else is stuck in your heads.

Combine that with the age demographic, as most here are barely able to USE a computer much less comprehend the abstract principles behind them, you get a bunch of "wizened" trolls doing nothing more than wearing down the civil discourse on the subject.

We all tried, early in the beginning to get you guys to understand, but when the wall of ALL CAPS CRAZYTOWN BULLSHIT kept on coming, some of us snapped. Because, you see, when you are faced with a shrieking cage full of shit-hurling chimps, sometimes the best move is to bare your teeth and fucking go to town.

So if you're complaining about Fonestar, you really should be complaining about YOURSELF and every other fucker on here who can't be bothered to consider an alternate viewpoint.

 

Wed, 12/04/2013 - 15:15 | Link to Comment Jack Napier
Jack Napier's picture

Everybody knows FRNs are on their way out. What I don't understand is why people trust BitCoins. It's a pure speculator's market. In an unregulated market such as BTC the big wallets (central bankers!) have the most potential to move it to their advantage. This looks like a classic pump and dump, rinse, and repeat.

This doesn't even take into account that BTC will be utterly useless in a SHTF scenario, which would not be out of the question in a currency crisis, since they don't function without both electricity and the Internet. There is no intrinsic value in digital currency!

Those who choose BTC over gold and silver are going to be filled with regret years from now.

Wed, 12/04/2013 - 15:17 | Link to Comment fonzannoon
fonzannoon's picture

So precious metals are the best play out there should the fed actually taper...which pretty much means they are fucked.

Wed, 12/04/2013 - 15:20 | Link to Comment fonestar
fonestar's picture

You guys keep mentioning this "SHTF" BS?  Did it ever occur to you that the entire globe will most likely not SHTF all at once?  What you are going to do after your SHTF?  That perhaps there's a great party going on halfway accross the globe as you are SHTFing?  That Bitcoiners and others might want to buy a ticket to that party?

Wed, 12/04/2013 - 16:02 | Link to Comment MachoMan
MachoMan's picture

You've got two competing issues...  one is that as americans we believe we have control over the world, thus if our currency fails, then the whole world goes down the shitter...  you might call this american exceptionalism...  However, on the other hand, the dollar does function as the world's financial lubrication, so... 

The big issue is that the dollar tends to lose power more quickly than people want to accept...  and any other sovereign worth its salt is hedging against it and otherwise seeking to mitigate its influence.

PS, bitcoin is just a competitor, not a savior per se.

Wed, 12/04/2013 - 17:30 | Link to Comment fonestar
fonestar's picture

"as americans we believe we have control over the world, thus if our currency fails, then the whole world goes down the shitter..."

Yes, I can quite clearly see that.  Things will likely be pretty crazy for a few weeks and months after a dollar failure but life will go on.  I would prefer to think along slightly longer timelines than a few weeks following such an incident.

Wed, 12/04/2013 - 21:23 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

those who don't will get nothing for btc years from now - not any silver, gold, paper money, land, nothing.
BTC will have zero value in 3 years. The entire market-cap for all bitcoins will be ONE dollar.

Wed, 12/04/2013 - 15:04 | Link to Comment Dr. Everett V. Scott
Dr. Everett V. Scott's picture

Here is some very interesting info on the international gold market & related shenanigans:

 

http://www.mauldineconomics.com/ttmygh/pdf/twisted-by-the-pool

Wed, 12/04/2013 - 15:45 | Link to Comment dracos_ghost
dracos_ghost's picture

I think Wei-Dai, Back and Finney and others might contest "seminal" -- derivative is more appropriate.

The system is secure as long as honest nodes collectively control more CPU power than any cooperating group of attacker nodes

Gee, Whoda thunk?

And I hardly think a 9 page paper constitutes a tour de force in both banking and software engineering history although to ~20 lines of code describing a Poisson distribution is  bar none, the shiniest example of Satoshi's godliness and all software engineering is now invalid.

 

 

 

 

 

Wed, 12/04/2013 - 15:52 | Link to Comment fonestar
fonestar's picture

I do not doubt they would.... no points for proof of concept or what?  Thanks for the whitespace anyway it screams louder than

FRANCIS SAWYER AND HIS CAPS~~~~ LOL

Wed, 12/04/2013 - 17:05 | Link to Comment dracos_ghost
dracos_ghost's picture

First off, I apologize for the spaces they were unintentional, I will offer my fat cat who decided to jump on the laptop to Satoshi as an offering at the altar. Just curious is your first name Dick?

Secondly,(these are intentional with all deference to Francis Sawyer), POINTS FOR A PROOF OF CONCEPT! In one breath, you call everyone an asshole for not bowing down to Satoshi and his brilliance, people are assholes not buying bitcoin hand over first and in the next breath we need to give him cred for a POC?! The World Banking system needs to be dispatched with extreme prejudice because of a cyperpunk's POC? People need to put all their wealth into Satoshi's POC? Are you fucking serious. A little late to claim academic innocence. So what, when the first real crash hits the system, the crew can just say, "Hey, it was just a POC". I'm sure all those fleeced will understand.

Go back to pumping and dumping with your mining pool -- you know, the things Satoshi specifically didn't want in the P2P network. Or should we now buy litecoins with your recommendation of mcxNow.com --OOPS.

If you want people to jump on the BTC revolution, polish your sales pitch. The braggadoccio and hyperbole ain't cutting it.

And before you hurl any more Adderal induced epithets, I've owned BTC since the original "Fuck You Blythe" campaign Max Keiser was pushing. BTC is a great trade but if you're the poster boy for the "movement" maybe it's time to rethink.

And BTW, why no love for Charlie Lee or Sunny King? They seem to be walking the talk unlike the mysterious Satoshi.

But then again, maybe I AM SATOSHI. Blows your mind there huh Morpheus.

Wed, 12/04/2013 - 17:37 | Link to Comment fonestar
fonestar's picture

Hey even Shamir, Stallman and others don't sound too crazy about Bitcoin.  But you know what?  You can't deny that Bitcoin has been out threre in the wild taking heads for four years now.  Not bad for some POC hey?  I like businesses and concepts in general that have proven themselves over time and I would count Bitcoin amongst them and don't feel that is being premature at this point.  And FYI the only epithets I have hurrled have been towards those that were deliberately dismissive and rude calling me a shill pushing "bitchcoin", "bitcon", etc, etc.  If someone wants to sound like an ignoramus should I really feel bad for addressing them as such? 

Wed, 12/04/2013 - 21:50 | Link to Comment madbomber
madbomber's picture

so you took to much adderal? basically?    lol.   

Wed, 12/04/2013 - 21:21 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

all in for quatloos & cheeseKoinz

Wed, 12/04/2013 - 14:44 | Link to Comment Ham-bone
Ham-bone's picture

since losing 10 day support...silver has tested and failed @ 10 day moving average over 10 times since Nov 1...just sitting above now but if doesn't hold above, then a big fall could be triggered.

Silver really needs a close above $20 to break the cycle of longs dumping @ 10 day moving average and going short...above $20 and shorts need to cut their losses and the next silver run is off.

Wed, 12/04/2013 - 14:53 | Link to Comment fonestar
fonestar's picture

You guys get very excited over what you are told the price of silver will be.

Carry on.

Wed, 12/04/2013 - 15:06 | Link to Comment Ham-bone
Ham-bone's picture

I'm kinda old school in that I like something which has great utility and is indispensible economically, is scarce and only getting scarcer, and seemingly priced simply @ it's replacement cost.

I've got nothing against or for bitcoin...it's just a bit too esoteric for my simple mind.  But I'm glad it makes sense to you and don't doubt there is some future for it...I guess there is such a large universe out there that we all have to pick our area and attempt to gain expertises...but that doesn't exactly mean we know much bout our neighbors business.

Wed, 12/04/2013 - 15:08 | Link to Comment fonestar
fonestar's picture

People who own silver should do fine too.  But it will be funny if and when they are forced to convert some to BTC to send to friends or relatives.

Wed, 12/04/2013 - 15:20 | Link to Comment greatbeard
greatbeard's picture

>> People who own silver should

I've often wondered about the entrenched resentment towards gold bugs but things are beginning to clear up.

Wed, 12/04/2013 - 16:23 | Link to Comment Amagnonx
Amagnonx's picture

Im around 50/50 crypto and PM's - I dont think there should be any animosity between these methods.  Crypto and PM's both offer different solutions to wealth protection - they both have some risks, and advantages.  Crypto has done very well for me recently, but I just think money is the winner right now - whichever form it might be.

Wed, 12/04/2013 - 17:00 | Link to Comment fonestar
fonestar's picture

There should be less than animosity.  Most Bitcoiners own silver as well, six or seven figure BTC means the end of COMEX much, much faster.

Wed, 12/04/2013 - 21:18 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

forced how? There grid won't be there to send to my relatives. Mail, physical delivery, perhaps but certainly no internet and no phones.

Wed, 12/04/2013 - 14:31 | Link to Comment CClarity
CClarity's picture

Signaling time for rotation out of Fed levitated assets? Planning for a Fed fail?

Wed, 12/04/2013 - 14:33 | Link to Comment 1stepcloser
1stepcloser's picture

some would argue, right now, anything below $78 is a bargain in silver...

Wed, 12/04/2013 - 14:37 | Link to Comment greatbeard
greatbeard's picture

>> anything below $78 is a bargain in silver...

Looks like one of the inmates at Turd's place got out.

Wed, 12/04/2013 - 14:40 | Link to Comment Canadian Dirtlump
Canadian Dirtlump's picture

I can conceptually see silver going gangbusters if the system breaks, or TPTB want it to, but calling for the moonshot now is indeed premature.

Anything under 35 for a decent 1oz round in your hand, in my view is a bargoon though.

Wed, 12/04/2013 - 14:55 | Link to Comment explosivo
explosivo's picture

How did you calculate this 78 number?

Wed, 12/04/2013 - 15:07 | Link to Comment Machine Parts
Machine Parts's picture

Historic gold/silver ratio = 15:1.  Current ratio 62.8:1.  Future ratio = parity.

Wed, 12/04/2013 - 15:18 | Link to Comment AllThatGlitters
AllThatGlitters's picture

Hey, I love silver myself, but come on, those "historic" G/S ratios people cite are silly.  The G/S Ratio can sit above or below the average, or move in the opposite direction, for hundreds of years. Thus, it is not a sound basis for determining current value, or directional movements. Unless you are attempting to preserve or grow wealth for your great great great grandchildren. Those who claim to be doing just that are generally under water, and not willing to admit they were wrong. The G/S Ratio always feels like grasping at straws to me. 

Wed, 12/04/2013 - 15:27 | Link to Comment jmcadg
jmcadg's picture

As silly as the silver to gold mining ratio of 9:1.

Wed, 12/04/2013 - 16:18 | Link to Comment BigJim
BigJim's picture

The Au:Ag ratio is indeed a bit of a red herring, because it presupposes that demand for both is equal.

If Ag stockpiles continue to diminish, and there arise no competitors to silver's properties (graphene, for instance), the Au:Ag ratio will almost certainly shrink.

If gold is remonetised, you can expect to see the Au:Ag ratio get even bigger.

I doubt silver will be remonetised (at least this side of a free banking revolution) as the stock:flow of silver isn't really suitable for money.

You can't have silver and gold both being money in a single currency because the natural ratios aren't constant (look what happened when Newton (as master of the mint) got it wrong. Silver was undervalued, and soon silver drained out of England, leaving it on a defacto gold standard).

Own both.

Wed, 12/04/2013 - 20:47 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

There is no historic linear ratio according to proper technical (mathematical) analysis.
Look at the divergence from such an average: it's gigantic.
The actual proper math requires powers & exponents.
For example, silver = e^(gold / 1000 x 1.1385) x 4.86 as seen in http://flic.kr/p/f17z1s .
The long-term scatterplot reveals the true trendline ratios of gold to silver (gold SQUARED to silver) and there are several.
http://flic.kr/p/f5bHkJ

Wed, 12/04/2013 - 14:54 | Link to Comment Triple A
Triple A's picture

Yeah it was nice, I picked up some American eagles yesterday from the local coin and jewelry store down the street. They are always 3 dollars over spot but this time they were five. They guy said inventories are really low and dealers are coming in and are even paying 3 dollars over spot. I thought that was pretty interesting.

Wed, 12/04/2013 - 15:39 | Link to Comment Never_Put_Down
Never_Put_Down's picture

Silver <$30 is a bargain IMHO

Wed, 12/04/2013 - 14:29 | Link to Comment Son of Captain Nemo
Son of Captain Nemo's picture

That's what Yellen will say.

Wed, 12/04/2013 - 16:55 | Link to Comment Crash Overide
Crash Overide's picture

"Gold and Silver have more in common with Bitcoin thatn most think."

They are both controled by the government?

Bitcoin developer Jeff Garzik explicit confirms on TV he is working with goverment and keeps updating the bitcoin protocol often to give control and power to US goverment.

Please watch the video starting at 15:30
http://blip.tv/whatstrending/week-4-06-07-11-with-lupe-fiasco-kevin-poll...

Wed, 12/04/2013 - 20:26 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

just about NOTHING.
Gold & silver have industrial uses, medical uses, dental uses, nuclear uses, have an atomic nucleus, have mass, and are easily identifiable.
BTC is easily identifiable to tech-savvy people but it means nothing to everyone else. Gold & silver money can be used with no grid. Bitcoin requires a grid.

Wed, 12/04/2013 - 14:25 | Link to Comment 12ToothAssassin
12ToothAssassin's picture

Barberous relic!

Wed, 12/04/2013 - 20:25 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

Yarrr! oh, ye said Barbarous, not Barbarosa.

Ne'ermind.

Wed, 12/04/2013 - 14:32 | Link to Comment midtowng
midtowng's picture

I hadn't considered that the stock bubble was the reason for gold's troubles. Now I know.

Wed, 12/04/2013 - 14:22 | Link to Comment Alpo for Granny
Alpo for Granny's picture

Bubble my wrinkly old white ass. This old bag is swapping her bitcoins for cases of Prime Cuts in Gravy, Ammo and Phyzz.

Come at me zombies!

Wed, 12/04/2013 - 14:45 | Link to Comment White Owl
White Owl's picture

Don't forget a case or two of Tide so you can barter with da Homies on the street.

Wed, 12/04/2013 - 14:52 | Link to Comment fonestar
fonestar's picture

And there will be a smart young lass picking up those BTC from you.

Wed, 12/04/2013 - 16:53 | Link to Comment WOAR
WOAR's picture

What, don't you want people to actually USE BITCOIN?

It seems like you just want people to swap reserve notes for bitcoin, and then sit on bitcoin as if that's what you're supposed to do.

That's the stupidest thing I've ever heard. If you want to sit on your money, buy gold, not something you can stick on a hard-drive that gets thrown away or fries itself.

Wed, 12/04/2013 - 17:03 | Link to Comment fonestar
fonestar's picture

People should use Bitcoin for transactions right now only when they are forced to.  Best to save your Bitcoin and spend your fiat.

Wed, 12/04/2013 - 17:46 | Link to Comment bombdog
bombdog's picture

And bitcoin is different from fiat because???

Oh... it's the Math stupid, It's all about the math. Why buy gold when you can buy some numbers? And your numbers are better than the fed numbers, right?

Bullshit. Encouraging people into BubbleCoin is disgraceful. At least the US dollar is backed by taxation, oil and violence. Bitcoin is just backed by smoke and mirrors and a couple of nerds holding 20% of the float. They got a huge computer network figuring out (mining) numbers for people to buy. What a crock of shit.

Wed, 12/04/2013 - 20:22 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

that defeats the proper purpose of bitcoin - to be a currency. To hoard them for fiat gains is the opposite of bitcoin's purpose - it's to use it like a pennystock.

Wed, 12/04/2013 - 20:21 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

for $5 - each - if you were smart.

Wed, 12/04/2013 - 14:25 | Link to Comment Ignatius
Ignatius's picture

The chinese have a huge investment in their gold hedge. 

With bitcoin knockin', expect gold to start rockin'.

Wed, 12/04/2013 - 14:24 | Link to Comment monopoly
monopoly's picture

"Gold bubble". Right. Lets talk about that at 3,000 or so. And yes, about time. Our patience will pay off big time me thinks. 

Wed, 12/04/2013 - 14:27 | Link to Comment Grande Tetons
Grande Tetons's picture

The sanity trade has been insane. 

3000 an ounce...fuck I hope so. I will take 1500 for now. 

Wed, 12/04/2013 - 15:53 | Link to Comment Amagnonx
Amagnonx's picture

I'll sell silver starting at $500 - below that is a rip off.

Wed, 12/04/2013 - 20:19 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

meh. At 1500 we'll see silver around 26.80 USD. Barely a move on my options. Won't get me to move a coin or bar.

Wed, 12/04/2013 - 14:30 | Link to Comment greatbeard
greatbeard's picture

>> Our patience will pay off big time

Patience? Fuck patience.  Those cocksuckers have stolen two years of advances with their bull shit light market smash down sucker punches.  Fuck patience.  I want mainstream heads rolling now.

Wed, 12/04/2013 - 14:38 | Link to Comment pods
pods's picture

"Every normal man must be tempted at times to spit on his hands, hoist the black flag, and begin to slit throats."

H. L. Mencken

Wed, 12/04/2013 - 14:48 | Link to Comment Cacete de Ouro
Cacete de Ouro's picture

Gold will not be free until the gold traders in the Bank of England, the BIS, and the Banque de France, along with the LBMA assorted fixer and clearer cartels, are taken out on a stretcher...

Wed, 12/04/2013 - 15:06 | Link to Comment Bastiat
Bastiat's picture

Keep on eye on the Singapore cash market.

Wed, 12/04/2013 - 15:43 | Link to Comment Never_Put_Down
Never_Put_Down's picture

Ding Dong greatbeard

Wed, 12/04/2013 - 20:15 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

fuck impatience. You're weak-hands. You're here like a court-jester for entertainment.
All you're looking for is paper.
I'm going to barter gold & silver for OTHER tangible goods with NO paper involved.
Maybe you should be a day-trader so you can make $ from the swings down or up.

Wed, 12/04/2013 - 20:14 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

ACTUALLY with outstanding currency & credit a fair valuation is 7000, so says Jim Rickards, and I'm inclined to agree, so that wouldn't be a bubble at only half the price.

Wed, 12/04/2013 - 14:28 | Link to Comment LawsofPhysics
LawsofPhysics's picture

Interesting, I still see just as many ounces in my safe...

(if I had a safe of course, can one take a "bit" on a canoe trip?)

When fraud is the status quo, possession is the law.

That is all you need to know.

Wed, 12/04/2013 - 14:28 | Link to Comment Yen Cross
Yen Cross's picture

   Everyone is pouring into PMs today. Bond yields are up 2.5% on 10s, and the dollar is getting pummeled. That gold chart is a thing of beauty! ;-)

Wed, 12/04/2013 - 14:31 | Link to Comment IridiumRebel
IridiumRebel's picture

Gold plays a long game. Stay nimble my friend!

Wed, 12/04/2013 - 14:36 | Link to Comment Yen Cross
Yen Cross's picture

  Looks like the BitShit douchebags are trolling IR.

Wed, 12/04/2013 - 14:45 | Link to Comment IridiumRebel
IridiumRebel's picture

http://m.us.wsj.com/articles/SB10001424052702304355104579232480552517224...

GLOBAL WEALTH TAX COMING

In his November investment commentary for bond giant Pimco, Mr. Gross asks the "Scrooge McDucks of the world" to accept higher personal income taxes and to stop expecting capital to be taxed at lower rates than labor. As for the IMF, its latest Fiscal Monitor report argues that taxing the wealthy offers "significant revenue potential at relatively low efficiency costs." The context for this argument is the IMF's expectation that in advanced economies the ratio of public debt to gross domestic product will reach a historic peak of 110% next year, 35 percentage points above its 2007 level.

Between 2008 and 2012, several of the developed world's most fiscally challenged nations (including the United Kingdom, Ireland and Spain) increased top personal income tax rates by an average of 8%. In the United States, the expiration of the Bush tax cuts pushed the highest federal income tax bracket to 39.6% from 35%.
What the IMF calls "revenue-maximizing top income tax rates" may be a good indication of how much further those rates could rise: As the IMF calculates, the average revenue-maximizing rate for the main Organization of Economic Cooperation and Development countries is around 60%, way above existing levels.
For the U.S., it is 56% to 71%—far more than the current 45% paid in federal, state and local taxes by those in the top tax bracket. The IMF singles out the U.S. as the country where raising top rates toward 70% (where they were before the Reagan tax cuts) would yield the most revenue—around 1.25% of GDP. And with a chilling candor, the IMF admits that its revenue-maximizing approach takes no account of the well-being of top earners (or their businesses).
Taxes can rise in ways both prominent and subtle. In the United Kingdom, the highly advantageous "resident non-domiciled" status—requiring wealthy residents to pay taxes on overseas earnings only if they "remit" the money to the U.K.—has become much harder to qualify for and more costly after recent reforms.
In France, President François Hollande finally managed to pass a 75% tax on income above one million euros and now he is seeking to limit the tax benefits of "life insurance contracts," a long-term savings instrument used by most wealthy households. As for the uniquely French "impôt sur la fortune," taxing those with net worth above 1.3 million euros, it is alive and well. Japan too is taking steps to increase personal taxation, though it hasn't yet targeted top earners in particular.
Of course these measures won't return the world's top economies to sustainable levels of debt. That could be achieved only through significant economic growth (the good way) or, as the IMF puts it, "by repudiating public debt or inflating it away" (the bad way). In October the IMF floated a bold idea that didn't get the attention it deserved: lowering sovereign debt levels through a one-off tax on private wealth.
As applied to the euro zone, the IMF claims that a 10% levy on households' positive net worth would bring public debt levels back to pre-financial crisis levels. Such a tax sounds crazy, but recall what happened in euro-zone country Cyprus this year: Holders of bank accounts larger than 100,000 euros had to incur losses of up to 100% on their savings above that threshold, in order to "bail-in" the bankrupt Mediterranean state. Japanese households, sitting on one of the world's largest pools of savings, have particular reason to worry about their assets: At 240% of GDP, their country's public debt ratio is more than twice that of Cyprus when it defaulted.
From New York to London, Paris and beyond, powerful economic players are deciding that with an ever-deteriorating global fiscal outlook, conventional levels and methods of taxation will no longer suffice. That makes weapons of mass wealth destruction—such as the IMF's one-off capital levy, Cyprus's bank deposit confiscation, or outright sovereign defaults—likelier by the day.

DIGITS GONNA GIT IT!

Wed, 12/04/2013 - 15:11 | Link to Comment LawsofPhysics
LawsofPhysics's picture

What "wealth"?  Can you take "bits" on a canoe trip?

Wed, 12/04/2013 - 15:16 | Link to Comment Yen Cross
Yen Cross's picture

  I read that earlier. Interesting times we're living in...

Wed, 12/04/2013 - 14:39 | Link to Comment Grande Tetons
Grande Tetons's picture

Like the Kardashians playing chess....somebody has to win...I think.  

Wed, 12/04/2013 - 14:54 | Link to Comment IridiumRebel
IridiumRebel's picture

Trust me, they have no ability to think. That game would never end.

Wed, 12/04/2013 - 20:12 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

Sure it would. They'll think it's like Jenga but 'tricky'

Wed, 12/04/2013 - 14:29 | Link to Comment becky quick and...
becky quick and her beautiful mouth's picture

silver needs to do something. my family has been laughing their ass off at me for going on 13+ years.

Wed, 12/04/2013 - 14:32 | Link to Comment greatbeard
greatbeard's picture

>> my family has been laughing their ass off at me

Bro, it's not the silver.

Wed, 12/04/2013 - 14:38 | Link to Comment Alpo for Granny
Alpo for Granny's picture

They are laughing at you cause you give Warren handy's in the bubble bath.

 

That's just gross.

Wed, 12/04/2013 - 14:56 | Link to Comment joego1
joego1's picture

Laughing, Why? because you have insurance? My son in law gave me a hard time until I told him that if I'm wrong my kids will end up with it. That shut him right up.

Wed, 12/04/2013 - 15:17 | Link to Comment Herd Redirectio...
Herd Redirection Committee's picture

Exactly.  I hope I get to hand at least an ounce of precious metals on to the next generation, when the time comes.

Wed, 12/04/2013 - 19:57 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

who cares? Clearly the price today is better than 13 years before.
Your family are douches, apparently. Ignore them.
I would

Wed, 12/04/2013 - 14:31 | Link to Comment AllThatGlitters
AllThatGlitters's picture

Anybody take advantage of the Cyber Monday deals? Could have bought cheaper then than at this morning's lows.

Never forget to pay attention to dealer premiums.  They are already popping, and likely to get much higher, until silver is unavailable.

Wed, 12/04/2013 - 14:31 | Link to Comment NIHILIST CIPHER
NIHILIST CIPHER's picture

A gold coin in the hand is worth two bitcoins in the bush.............but sometimes a little bush ain't bad either.

Wed, 12/04/2013 - 14:32 | Link to Comment jubber
jubber's picture

yep i got some at 1899.5 this morning and some Gold at 1214

Wed, 12/04/2013 - 14:34 | Link to Comment Dr. Engali
Dr. Engali's picture

I guess I would care about the paper price of gold if I were buying or selling today, but I'm not. It's just another day of the fraud paper manipulation to me.

Wed, 12/04/2013 - 15:17 | Link to Comment Gief Gold Plox
Gief Gold Plox's picture

It's also the first time ever I've been able to correctly call a bottom and pick up some much needed silver coins.

Until they slam the price again tomorrow that is :)

Wed, 12/04/2013 - 16:32 | Link to Comment jomama
jomama's picture

i, too, picked up 200oz. Ag yesterday.  it's strangley satisfying to stick APMEX with that one!

Wed, 12/04/2013 - 14:35 | Link to Comment buzzsaw99
buzzsaw99's picture

hurray the gold bear is dead! NOT! BWA AH AH!

Wed, 12/04/2013 - 14:38 | Link to Comment chaartist
Wed, 12/04/2013 - 14:40 | Link to Comment AGoldhamster
AGoldhamster's picture

This is an arranged "fake" short squeeze to suck in all ZH gold bulls - as the next step is gold to plunge way below this years lows.

Any bets?!

Wed, 12/04/2013 - 14:50 | Link to Comment White Owl
White Owl's picture

Watch what happens next week when some good old Texas Hunt brother panic emerges and PM's go dramatically in one direction or the other.

Wed, 12/04/2013 - 14:39 | Link to Comment Sufiy
Sufiy's picture

Tyler - this is one for you to crack! All technical comments are apreciated:

 


Can Bitcoin Be The Digital Con Scheme? - Quantitative Analysis of the Full Bitcoin Transaction Graph


We do not know whether it is the shellbomb or just another scam around Bitcoin, but decided to share it and find comments from more technically sophisticated readers. All our analysis before was based on the Bubble signs which can be attributed to Bitcoin exorbitant rise and that it is unsustainable in the long term.    From this report we can take that Bitcoin Open Source is not that open after all and we can see the attempt to game the other Bitcoin participants with artificially inflated prices - pure OTC stock style Pump and Dump run by insiders.   Before you can make any of your conclusions we must accept that this report and its findings are real and correct and not just another scam around Bitcoin apart from its price. We welcome any comments from technically sophisticated readers.


Dorit Ron and Adi Shamir Department of Computer Science and Applied Mathematics, The Weizmann Institute of Science, Israel {dorit.ron,adi.shamir}@weizmann.ac.il
"5 Conclusions The Bitcoin system is the best known and most widely used alternative payment scheme, but so far it was very difficult to get accurate information about how it is used in practice. In this paper we describe a large number of statistical properties of the Bitcoin transaction graph, which contains all the transactions which were carried out by all the users until May 13th 2012. We discovered that most of the minted bitcoins remain dormant in addresses which had never participated in any outgoing transactions. We found out that there is a huge number of tiny transactions which move only a small fraction of a single bit- coin, but there are also hundreds of transactions which move more than 50,000 bitcoins. We analyzed all these large transactions by following in detail the way these sums were accumulated and the way they were dispersed, and realized that almost all these large transactions were descendants of a single transaction which was carried out in November 2010. Finally, we noted that the subgraph which contains these large transactions along with their neighborhood has many strange looking structures which could be an attempt to conceal the existence and relationship between these transactions, but such an attempt can be foiled by following the money trail in a sufficiently persistent way." http://sufiy.blogspot.co.uk/2013/12/can-bitcoin-be-digital-con-scheme.ht...

Wed, 12/04/2013 - 15:05 | Link to Comment Jack Napier
Jack Napier's picture

All it would take to hack the BitCoin PROTOCOL is enough reverse engineered clients in the public domain to outweigh the number of legitimate clients; a slim, but real possibility.

Since the validity of a transaction chain is validated by peer clients all it would take is more rogue clients than legitimate clients to undermine the entire system. Anyone who thinks this is not possible should research photonic microprocessing capabilities.

BitCoin is popular right now for all its benefits, which are many and valid, but ultimately nothing is 100% secure when it comes to computing. I do not have reason to think it is a con scheme, but I don't assume that it isn't either. It very well could be, and anyone participating needs to understand the risk they are taking. The only way to truly enforce sound currency is with metals, which don't have counter party risk, infrastructure dependency risk, system integrity risk, or default risk - unlike anything else.

Wed, 12/04/2013 - 15:11 | Link to Comment Bastiat
Bastiat's picture

I heard an NSA recruiter in the 70s say: we measure our computers by the acre.  It's beyond my imagining the processing power they have today. 

Wed, 12/04/2013 - 18:47 | Link to Comment AllThatGlitters
AllThatGlitters's picture

Well, an acre of computers in the 70's was the equivalent of a Nintendo Gameboy today LOL.

Then again, if they have acres of computers now....

Wed, 12/04/2013 - 15:06 | Link to Comment fonestar
fonestar's picture

Thanks for dp'ing that huge text fool.  Ever heard of using a link?

Wed, 12/04/2013 - 15:25 | Link to Comment superflex
superflex's picture

Ever quit being a douche?

Wed, 12/04/2013 - 18:53 | Link to Comment AllThatGlitters
AllThatGlitters's picture

Your messages pitching BTC to prospective bagholders add up to a greater amount of text than that post, yet add nothing to the conversation. Their just "BTC will make you rich, those who say otherwise love the Fed and are big dumb dummies who will get left behind." over and over again. Fool.

 

 

Wed, 12/04/2013 - 15:52 | Link to Comment seek
seek's picture

This paper was retracted days after is was issued after some glaring mistakes in methodology were pointed out:

http://bits.blogs.nytimes.com/2013/11/27/researchers-retract-report-that...

The guy that owned the bitcoins in question came forward as well:

http://www.wired.com/wiredenterprise/2013/11/trammell/

 

Wed, 12/04/2013 - 14:41 | Link to Comment Sufiy
Sufiy's picture

Tyler - this is one for you to crack! All technical comments are apreciated:

 


Can Bitcoin Be The Digital Con Scheme? - Quantitative Analysis of the Full Bitcoin Transaction Graph


We do not know whether it is the shellbomb or just another scam around Bitcoin, but decided to share it and find comments from more technically sophisticated readers. All our analysis before was based on the Bubble signs which can be attributed to Bitcoin exorbitant rise and that it is unsustainable in the long term.    From this report we can take that Bitcoin Open Source is not that open after all and we can see the attempt to game the other Bitcoin participants with artificially inflated prices - pure OTC stock style Pump and Dump run by insiders.   Before you can make any of your conclusions we must accept that this report and its findings are real and correct and not just another scam around Bitcoin apart from its price. We welcome any comments from technically sophisticated readers.


Dorit Ron and Adi Shamir Department of Computer Science and Applied Mathematics, The Weizmann Institute of Science, Israel {dorit.ron,adi.shamir}@weizmann.ac.il
"5 Conclusions The Bitcoin system is the best known and most widely used alternative payment scheme, but so far it was very difficult to get accurate information about how it is used in practice. In this paper we describe a large number of statistical properties of the Bitcoin transaction graph, which contains all the transactions which were carried out by all the users until May 13th 2012. We discovered that most of the minted bitcoins remain dormant in addresses which had never participated in any outgoing transactions. We found out that there is a huge number of tiny transactions which move only a small fraction of a single bit- coin, but there are also hundreds of transactions which move more than 50,000 bitcoins. We analyzed all these large transactions by following in detail the way these sums were accumulated and the way they were dispersed, and realized that almost all these large transactions were descendants of a single transaction which was carried out in November 2010. Finally, we noted that the subgraph which contains these large transactions along with their neighborhood has many strange looking structures which could be an attempt to conceal the existence and relationship between these transactions, but such an attempt can be foiled by following the money trail in a sufficiently persistent way." http://sufiy.blogspot.co.uk/2013/12/can-bitcoin-be-digital-con-scheme.ht...

Wed, 12/04/2013 - 15:04 | Link to Comment fonestar
fonestar's picture

We've already discussed Shamir's paper several times.  It was only released over a year ago... now do you have anything exciting to add?

Wed, 12/04/2013 - 15:31 | Link to Comment Sufiy
Sufiy's picture

The price action - it looks like OTC scam now based on paper.

 

What is your take?

 

Best

Wed, 12/04/2013 - 16:22 | Link to Comment jomama
jomama's picture

so far the extent of this poster's insights are limited to berating PM bugs and upvoting his own posts.  unless i missed something useful he posted at some point?

Wed, 12/04/2013 - 16:49 | Link to Comment Grosvenor Pkwy
Grosvenor Pkwy's picture

Bitcoin behaves like a highly speculative "penny stock" issue of a start-up software company. Bitcoin is not a single incorporated entity, but represents a large collection of software and computing equipment, and talented technical people, just like a software firm.

If it never results in a real practical product, then it is nothing more than a speculative mania which ultimately returns to zero value. The real practical product is supposed to be an actual currency that can be used to buy and sell a wide variety of items, not just a few novelties.

So far the main practical use for Bitcoin appears to be black-market and near black-market operations such as illegal drugs, gun purchases, and funds transfers designed to evade currency regulations. If these types of applications continue to be the main use for Bitcoin other than speculation on its value, then it is a risky proposition with a limited market application.

If its uses expand to normal business applications, then it could be a winner. But at this time, it is not operating like a currency, it is just a speculation of future possibilities. The use as a currency does not fit with the wild variations in value with respect to existing currencies such as dollars or euros, or if you want to compare to physical items, then compared to the price of oil. It needs to be fairly stable to be a currency. When you can buy one supertanker of oil today, or two supertankers tomorrow, that's not a stable currency.

Wed, 12/04/2013 - 14:42 | Link to Comment Fuh Querada
Fuh Querada's picture

up and down, like a honeymoon prick......
probably negative physical gold inventory at the Crimex by now.

Wed, 12/04/2013 - 14:42 | Link to Comment Mudduckk
Mudduckk's picture

Ahhem. I backed up the truck at the LCS yesterday. Boating accident on the way home. NE who this was with the profits I made on this weekend's Bitcoin sale. Yep I bat bothways.

 

Wed, 12/04/2013 - 14:45 | Link to Comment AL_SWEARENGEN
AL_SWEARENGEN's picture

This move up, courtesy of the cocksucking manipulators is like throwing a dog a bone after beating it moments before with merciless protraction.

Wed, 12/04/2013 - 14:52 | Link to Comment MsCreant
MsCreant's picture

Agree, big time. Stay the course. The conditions for why you got into PMs are only getting worse. DO NOT let them shake you off your position unless you gotta do something with $$ soon.

Bring it you silly bastards!

Fuck your stocks.

Fuck your bonds.

Particularly fuck your munis.

Fuck your musical chairs, ponzi schemes, and steam rollers. 

Fuck theft.

Fuck the Fed.

Fuck the MIC.

Wed, 12/04/2013 - 14:55 | Link to Comment Fuh Querada
Fuh Querada's picture

....and under those circumstances, fuck your luck!

Wed, 12/04/2013 - 15:00 | Link to Comment IridiumRebel
IridiumRebel's picture

Don't let Mrs IR know this but I love you.

Wed, 12/04/2013 - 15:12 | Link to Comment Bastiat
Bastiat's picture

Good to see you, Ms

Wed, 12/04/2013 - 15:34 | Link to Comment AGoldhamster
AGoldhamster's picture

Exactly that is the way to beat the market.

Great advice!

Wed, 12/04/2013 - 17:14 | Link to Comment auric1234
auric1234's picture

What market?

 

Wed, 12/04/2013 - 14:48 | Link to Comment AGoldhamster
AGoldhamster's picture

Same fake move in Indices. Today (or latest tomorrow) is likely a bottom - to suck in all ZH stock market bears - before again new highs.

Poor sheeple.

Wed, 12/04/2013 - 14:53 | Link to Comment MsCreant
MsCreant's picture

Why the joy in all that taunting? 

Someone leave you up someone's butt with your hands, feet, and mouth bound, Mr.AGoldhamster?

Wed, 12/04/2013 - 15:15 | Link to Comment AGoldhamster
AGoldhamster's picture

Me thinks from today on crude will again go lower, SnP higher and Gold again lower.

Taunting or not.

 

Wed, 12/04/2013 - 14:48 | Link to Comment apberusdisvet
apberusdisvet's picture

Has anyone ever wondered if Bitcoin is a truly marvelous psyop by the banking cartel to siphon off demand for the PMs just like GLD and SLV did?

Wed, 12/04/2013 - 15:00 | Link to Comment douglas
douglas's picture

How can any PM bull be against bitcoin? I have bought 4 silver CML monster boxes, 25 oz of gold pamp bars and 25 oz of paladium pamp bars in the last three days -  Where do you guys think that those of us that got into bitcoin early are putting away a good part of our bitcoin profits?

Wed, 12/04/2013 - 15:09 | Link to Comment bwh1214
bwh1214's picture

Great to hear and that’s something I kind of suspected.  Your comment doesn’t say much for bitcoin though.  I think your being smart, but that said, if too many people in bitcoin think that way won’t the bubble deflate.  Great job on the profits though.  PS don't forget captital gains, all that bling won't do you all that good if your in the clink.

Wed, 12/04/2013 - 19:54 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

how can anyone with a brain be FOR bitcoin?
It requires a power grid you don't own, it requires a network grid you don't own or control, it requires a computer which could be snooped or shut down for any number of reasons (and phones which are portable computers have no difference/benefit here), and it has none of the physical security of gold or silver which I can store securely & defend with lethal force.
Think about it.
You can get fiat profits but some who tried got it all wiped away with stolen bitwallets and stolen fiat-funds from exchanges gone dark.
You take a big risk & I take NONE of that having my gold IN MY HAND.

You don't even WANT bitcoin, you want fiat FROM bitcoin.

You're no different than chasing a pennystock. The risk of the pennystock is much lower than that of bitcoin.

Wed, 12/04/2013 - 15:01 | Link to Comment bwh1214
bwh1214's picture

I am a fan of Gold and Silver and think in the long run it is a better bet than bitcoin. That said this headline is a joke. Bitcoin-ed, is he kidding. Bitcoin went up 2500% in the past 6 months, gold and silver are down. Today Gold and silver are up 2.5% and 4 % respectively, but only after being down by much more in the past couple weeks. This headline seems more like wishful thinking.

Wed, 12/04/2013 - 16:28 | Link to Comment The Abstraction...
The Abstraction of Justice's picture

Bitcoin went up 5% todaym just a bit more than silver. I know that it is wise to stock pile on the PMs, but being wise all the time does not necessarily make you rich.

Wed, 12/04/2013 - 19:50 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

but trying to be rich when you are not does necessarily make you unwise (when all you're doing is trading).

Wed, 12/04/2013 - 15:08 | Link to Comment Hongcha
Hongcha's picture

I am conditioning myself, laboriously I might add, to stop being so concerned with day-to-day.  My miners are hammered and look like shit.  I am now doing nothing more than buying physical when I can.

I am detaching my emotions from it.  Really, I am.

I have a few nascent scenarios for the U.S., wherein I reside, in mind for the not-too-distant future:

1.  Inflation before deflation - "You're soaking in it";

2.  Steady emergence of black/grey markets (I have already seen acres of Mexican offbook mercados in fields up Petaluma way, this will increase);

3.  Bullion eventually sought by rich Chinese like they're buying RE today;

4.  Bullion trades and sales eventually outlawed.

I am hedging along these lines.

I got no beef against BTC.  I'm just not playing at that table, too fast for me.  Some few people are going to make some mighty good coin at it.

Wed, 12/04/2013 - 15:44 | Link to Comment AGoldhamster
AGoldhamster's picture

You will regret your buying when gold will be - first near - and then later even below 1000$/oz.

You are following a mantra which does not fit (anymore) for todays environment.

 

Hint: I will also buy again - but 3-400 bucks lower in price. Until then - and since weeks - short gold.
With a few oversold execptions (follow the BBs) when one lifts the shorts.

Wed, 12/04/2013 - 19:50 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

Won't ever get there - you'll be waiting for the drop from 3500 to 2500 calling for 1000 and "then I'll buy there" and you won't again there either.

Wed, 12/04/2013 - 17:43 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

a lot of miners are shit, so to speak.
Bad ore grades, labor problems, management that spends too much, etc.
Bullion isn't mines - bullion won't fail you once you've got it in your pocket.

Wed, 12/04/2013 - 15:10 | Link to Comment DebtSlaveZombie
DebtSlaveZombie's picture

You guys make me laugh.  One up day in the PM market and everyone is bringing out the champagne and skanks and grabbing for the big piece of chicken.  LOL.  Gold is up 1.8% on....Obama comments?  Uhhh.... really?  If we end QE and rates go higher gold will drop like a 2 dollar hooker.  But gold went against the trend today?  Why is gold up?  Anyone?  Can you even tell me why the hell gold is up?  You can't.  The S&P is taking a breather.  Interest rates are creaping higher, but will soon be quelled when the chairman doesnt taper in December and rates fall again and so does gold because thats what its gonna do for the next 18 months, while the S&P breaks 2000 at some point next summer.  There is support in the market.  So before you party like rock stars today remember...youre down 27% over the past year and the S&P is up 27%.... enjoy your scraps today.

Wed, 12/04/2013 - 15:28 | Link to Comment fijisailor
fijisailor's picture

End QE?  Now that is funny.  You must have drunk some MSM koolaid.

Wed, 12/04/2013 - 15:33 | Link to Comment superflex
superflex's picture

I prefer to look at PMs since 2008, when I started DCA.  

I'm sure I could pick a timeframe to compare PMs to the S&P and make you weep, but I'm not a petty little shit.

 

 

Wed, 12/04/2013 - 17:41 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

true, true.
I want it DOWN, not up. I have entries to make for agq calls and same with HVU shares before the market really dumps.
It wouldn't help me to see the cork pop before I can afford a bottle myself.

By all means I'll go short using options later after the peak but we're not there yet.

Do NOT follow this link or you will be banned from the site!