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And Now Gold Is Soaring

Tyler Durden's picture




 

Short-squeeze time? ... and suddenly CNBC goes quiet on the precious metals market movements.

 

 

The last 2 months has seen shorts pile back on in the futures market are squeezing in the fall...

 

We expect the BIS' Mikael Charoze, who is currently "red" after the recent gold slamdown, to promptly return to "green" at which point gold will once again mysteriously crash to its 2013 lows.

 

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Tue, 12/31/2013 - 11:18 | 4288226 GVB
GVB's picture

Early fireworks. Happy 2014 ZH'ers.

Tue, 12/31/2013 - 11:23 | 4288247 philosophers bone
philosophers bone's picture

Why do the PM price and a stacker's proximity to the coin shop have an inverse relationship?  (Price goes up as you get closer; goes down as you get further away)

Tue, 12/31/2013 - 11:30 | 4288285 Deo vindice
Deo vindice's picture

To me it looks like silver has been the focus of the past few days. That's where the hammer has really been pounding.

Tue, 12/31/2013 - 11:33 | 4288312 BaBaBouy
BaBaBouy's picture

canada Selling Last FewbOf Its GOLD Coins Left (BOC Used TO Have 26 Mill Ozs)...

Bank of Canada's gold coins to be liquidated to help balance government's budget

http://www.theglobeandmail.com/news/politics/bank-of-canadas-gold-coins-...

Canada's first gold coins had barely been minted before Ottawa yanked them out of circulation a hundred years ago in an effort to stop gold from leaving the country during the First World War.

Tue, 12/31/2013 - 11:37 | 4288326 Pegasus Muse
Pegasus Muse's picture

Interesting read.

====

GoldMoney's Head of Research Alasdair Macleod - Precious Metals in 2014

I therefore come to two conclusions for 2014: that we are heading towards a second and unexpected financial and currency crisis which can happen at any time, and that the lack of gold ownership in welfare-driven economies is set to accelerate the rate at which a collapse in purchasing power may occur.

http://www.goldmoney.com/research/research-archive/precious-metals-in-2014#

Tue, 12/31/2013 - 11:39 | 4288332 Pladizow
Pladizow's picture

Who the fuck classifies $7 as soaring???

Tue, 12/31/2013 - 11:40 | 4288333 malikai
malikai's picture

Probably people who are certain that down is manipulation and up is the squeeze that will crush JPM.

Tue, 12/31/2013 - 11:47 | 4288347 BaBaBouy
BaBaBouy's picture

SOARING ???

Hey, $7 Bucks To The BUM At the Street Corner IS "SOARING!"...

Tue, 12/31/2013 - 11:52 | 4288358 BaBaBouy
BaBaBouy's picture

BTW ......... On SILVER

Check The Silver ETF, Has NOT Gone Down Any, While The GOLD Etf
Has Been Decimated.

SILVER Is In VERY STRONG HANDS...
(They Don't Seem To Give A Fuck About The Paper Price).

Tue, 12/31/2013 - 11:55 | 4288371 TeamDepends
TeamDepends's picture

Cheers, and while we're at it, HALLELUJAH!!!!

Tue, 12/31/2013 - 12:01 | 4288400 FranSix
FranSix's picture

Globe And Mail article here.

Canada sold all of its 400 tonnes gold stored in the Mint during previous Liberal and Conservative governments.  Partly due to disbelief in bullion as a diversification asset, and partly due to a bond market downgrade in the 1990's.

The Canadian dollar sufferred accordingly.

The Conservative economics model in Canada now consists of the central bank swapping government bonds for illiquid mortgage derivative contracts, mostly propping up the housing bubble and bank stock prices.

Tue, 12/31/2013 - 12:07 | 4288426 fonestar
fonestar's picture

I don't care what they tell me the price of gold & silver is.

I did have a chance to add to my collection on my recent trip though.  Just some more 80% and 90% junk plus some neat 1980 Mexican one ounce coin.  The dealer I started off with five years ago on the west coast told me when I went in to see him that it is extremely hard for him to come accross any sizable amount of junk silver now.  Hopefully they lose control of these markets in 2014 but even if they don't it's still inevitable.

Tue, 12/31/2013 - 13:59 | 4288603 jbvtme
Tue, 12/31/2013 - 14:48 | 4289034 gold-is-not-dead
gold-is-not-dead's picture

feel so glad about 1toz on my neck bought yesterday for btcs... happy new year guys...

Tue, 12/31/2013 - 14:55 | 4289068 BoNeSxxx
BoNeSxxx's picture

Somebody REALLY wants gold to close under $1,200 for the year.

They are trying REALLY hard at it.

Methinks thou doth protest too much...

Tue, 12/31/2013 - 18:42 | 4289710 BitStorm
BitStorm's picture

You guys are honestly high-fiving over a .74% gain today in gold and a .66% loss in silver?

Tue, 12/31/2013 - 12:16 | 4288465 Odin
Odin's picture

They've been trying for 6 months to pin silver below 18.60... A'int going to happen... Keep trying bitchez.

Tue, 12/31/2013 - 17:33 | 4289529 IMACOINNUT
IMACOINNUT's picture

Deleted

Tue, 12/31/2013 - 19:27 | 4289805 StychoKiller
StychoKiller's picture

Decimated != Devastated

Tue, 12/31/2013 - 13:28 | 4288744 Zionist Jew
Zionist Jew's picture

Soaring indeed! Lulz

You paranoid loons have been barking about a dollar collapse for years.  Keep "stacking the phyz", we can beat the markets down at will.

If you want long term security, start running errands for your local Jewish community on Saturdays, we can always use a few more shabbos goy.

Tue, 12/31/2013 - 16:26 | 4289331 Cumulus Nimbus
Cumulus Nimbus's picture

Yawn. Trying too hard seems to just get you ignored troll. Perhaps you should try being a little more subtle and someone might pay you some notice.

Tue, 12/31/2013 - 12:14 | 4288458 RockRiver
RockRiver's picture

Who the fuck classifies $7 as soaring???

 

Might only be up 7 bux but it's 27 bux off the daily low. That might be "soaring".

Tue, 12/31/2013 - 12:17 | 4288469 Pladizow
Pladizow's picture

What % off the lows  - and is that soaring - perhaps an attempt at reverse propoganda?

Tue, 12/31/2013 - 12:26 | 4288514 RockRiver
RockRiver's picture

What % off the lows  - and is that soaring - perhaps an attempt at reverse propoganda?

 

2.2%

Tue, 12/31/2013 - 12:32 | 4288547 Phillycheesesteak
Phillycheesesteak's picture

Off the daily low? Or off the 52 week low from...last week? Wake me up when it gets past $1500 again.

Tue, 12/31/2013 - 18:40 | 4289711 BitStorm
BitStorm's picture

Soaring like submarines!

Tue, 12/31/2013 - 12:37 | 4288572 beegle
beegle's picture

well , isn not really 7 , more like 25 ... but yeah , you are right , nothing compared to whats coming .... 

Tue, 12/31/2013 - 16:52 | 4289422 QQQBall
QQQBall's picture

First the Income Statement - then the Balance Sheet...

 

Signed, Qbz

Tue, 12/31/2013 - 11:26 | 4288287 TeamDepends
TeamDepends's picture

Tonight we're gonna party like it's Gold 10,000 FRN's

Yeeeaaahhh

Tue, 12/31/2013 - 11:43 | 4288318 Ignatius
Ignatius's picture

At some point the Chinese are gonna protect their gold hedge by supporting the price.

Timing is a bitch (trust me, I dated her sister).

Tue, 12/31/2013 - 11:38 | 4288325 pods
pods's picture

I thought a short squeeze was something you did when you were with the missus and needed to last a bit longer?

pods

Tue, 12/31/2013 - 12:05 | 4288415 gafgroocK
gafgroocK's picture

 

 

 

What Channel do they broadcast the 50-year old white guy flash mob instructions? Anyone?

Tue, 12/31/2013 - 11:32 | 4288308 Stoploss
Stoploss's picture

Mikael Charoze,

 

DOESN'T HAVE A HAIR ON HIS ASS IF HE CAN'T GET GOLD TO 900...

Tue, 12/31/2013 - 16:41 | 4289385 MedTechEntrepreneur
MedTechEntrepreneur's picture

"Why do the PM price and a stacker's proximity to the coin shop have an inverse relationship? "

Simple....turn off the GPS locator on your cell phone.

<NSA tip>

Tue, 12/31/2013 - 11:23 | 4288251 gmrpeabody
gmrpeabody's picture

They knocked it down this morning to make the point that they were in full control...

Oops, it looks like it may not be FULL control.

Tue, 12/31/2013 - 11:26 | 4288265 jcaz
jcaz's picture

Trading against Gartman's calls is MONEY-  thanks, CNBC!!! 

Tue, 12/31/2013 - 12:45 | 4288606 Xibalba
Xibalba's picture

The only reason paper gold exists is to torture that douche

Tue, 12/31/2013 - 11:30 | 4288302 Keyser
Keyser's picture

Ok guys, how many of you broke your piggy banks this morning and drove the price higher? I didn't even have time to get an order in with APMEX before the bounce. 

Tue, 12/31/2013 - 11:35 | 4288322 thunderchief
thunderchief's picture

It's funny how much the mainstream media covers gold these days and bashes it every chance they get. Who are the true gold bug fanatics? Look no further than the manipulators and mainstream media obsession with beating it down every chance they get.
Most PM investors don't care about this paper BS either direction, but just watch CNBC and Bloomberg trip all over themselves on days like this.

Tue, 12/31/2013 - 11:48 | 4288361 ZH Snob
ZH Snob's picture

hope they slam it down again.  I still got some major stackin' to do.

Tue, 12/31/2013 - 11:17 | 4288228 GetZeeGold
GetZeeGold's picture

 

 

Oopsee daisy!

Tue, 12/31/2013 - 11:16 | 4288229 JPMorgan
JPMorgan's picture

Volatility ahead, hold on people.

Tue, 12/31/2013 - 11:20 | 4288239 ParkAveFlasher
ParkAveFlasher's picture

Just want to let everyone know, I just checked, mine is still shiny.

Tue, 12/31/2013 - 11:27 | 4288292 Rubbish
Rubbish's picture

Lucky you, mines covered in tons of earthen brown.

 

Shorters soiled their pants on that move.

Tue, 12/31/2013 - 11:32 | 4288309 TeamDepends
TeamDepends's picture

We tried and tried to save them.  Their pants that is.

Tue, 12/31/2013 - 11:30 | 4288293 Rory_Breaker
Rory_Breaker's picture

MIne's below lake level

Tue, 12/31/2013 - 11:56 | 4288373 bentaxle
bentaxle's picture

...and what about your stack?

Tue, 12/31/2013 - 11:18 | 4288241 tarsubil
tarsubil's picture

Just look at the long term chart of gold and silver. Future volatility will probably be orders of magnitude higher.

Tue, 12/31/2013 - 11:26 | 4288267 101 years and c...
101 years and counting's picture

$7 drops are manipulation and $30 spurts are "normal".  love the comedy all the whiners on this board provide.

Tue, 12/31/2013 - 11:44 | 4288337 TeamDepends
TeamDepends's picture

Gold $800 ain't gonna happen my man.  How long did today's smash last?  Ten minutes, twenty?  The jig is up, they've lost control of the bull and he's having a good time in the china shop.

Tue, 12/31/2013 - 12:17 | 4288480 Odin
Odin's picture

Neither the smashes or the "spurts" are normal, how can you have any normal movement in a fraud market?

Tue, 12/31/2013 - 18:43 | 4289713 TaperProof
TaperProof's picture

I've had 1200 as the floor since it hit it last time, too many things changed once it hit those levels (bullish changes)... and the same things changed again this time.   I just dont see it going below 1200 very long.

Tue, 12/31/2013 - 11:50 | 4288364 quasimodo
quasimodo's picture

The real comedy here is trolls such as yourself who make a mess of themselves when metals get smashed, then go coo coo for cocoa puffs when metals start to actually rise.

Tue, 12/31/2013 - 22:24 | 4290140 TaperProof
TaperProof's picture

Yeah so funny. Last time I was buying gold heavily it was $650/oz , how about you?   Did you lose your shirt when you bought it at 1900?  ..because I didnt touch it then.

Hope things are cozy in your moms basement.

Tue, 12/31/2013 - 12:05 | 4288416 Oldballplayer
Oldballplayer's picture

Isnt it amusing.  I love all of the "stackers" that want it "drop some more so I can get me some."

What bullshit.  Are you "stacking" so much that you are going to wait 1% more so you can "git some."

And...you need a bunch of 1/10th ounces to get much of a "stack."

 

 

Tue, 12/31/2013 - 12:47 | 4288626 DebtSlaveZombie
DebtSlaveZombie's picture

Yes, it is amusing indeed.  Have no idea what kind of investment philosophy it is when you want something to go down so you can buy more and more.   I guess that's what gold and silver hoarders want though.  And they will get it.  So why buy any now?  It's going to 1000 gold and 15 silver...the perfect 66.66% gold to silver ratio.  The S&P will hit 2000 next year at some point... thats only an 8% rise from current levels.  We may hit that by July 1st.  The Nikkei may hit 20,000 next year.  We will have this environment until late 2015 early 2016.  Gold may hit 850 again before it goes up.  This is just the way it will be for awhile.  So why not play the game the right way and make more fiat gains to buy gold at lower levels.  That's how you win... not by buying metals all the way down.  Make paper gains then use paper to buy way more gold than you could have before.  That's how a gangsta works... use the system against itself, then profit from it. 

Tue, 12/31/2013 - 15:10 | 4289109 Gutenberg
Gutenberg's picture

Um because there will be no metals left when you look to buy. Maybe you missed the the London vaults article a few weeks ago and that little thing about Germany asking for one tenth of their gold back and we said we needed to invade Mali and give it back in seven years. Would rather have it and not need it than need it and not have it. You will learn the meaning of that in 2015 or 2016.

Tue, 12/31/2013 - 15:53 | 4289235 Tall Tom
Tall Tom's picture

You think that they can continue until 2015 or 2016??? Perhaps...But I don't think so.

 

LBMA is out. Comex may be depleted as I write.

 

When the West stops supplying China with Gold all bets are off. That may happen soon...very soon.

 

I will be laughing at these people while watching them starve. I will help the homeless over that of helping those whom have been complicit in the problem.

 

Yes 2014 is going to be very fun.

 

I have been compiling a list and checking it twice. Anonymous posting? What a laugh!!!

Wed, 01/01/2014 - 20:48 | 4291827 auric1234
auric1234's picture

Have no idea what kind of investment philosophy it is when you want something to go down so you can buy more and more.

It's called "value investing". You buy it because it's WORTH more. You don't give shit if the market disagrees.

We will have this environment until late 2015 early 2016.

Really? Apparently you know how much gold is left in fort Knox then? Did you know in advance before Nixon defaulted on his gold obligations too?

Tue, 12/31/2013 - 11:16 | 4288231 Colonel Klink
Colonel Klink's picture

Isn't that amazing how they do that?  Both the metals manipulation and the MSM.

Tue, 12/31/2013 - 11:19 | 4288232 Dr. Engali
Dr. Engali's picture

Don't worry they will be knocked back into place shortly.

Tue, 12/31/2013 - 11:19 | 4288233 HelluvaEngineer
HelluvaEngineer's picture

Can't have this...not on the last trading day of the worst year evar for gold, right?

Tue, 12/31/2013 - 11:19 | 4288235 Indian_Goldsmith
Indian_Goldsmith's picture

So thats how an internationally traded commodity is supposed to behave? Welcome to the Penny Market! Bastards! If only i could get hold of a JPM bastard!!!!

Tue, 12/31/2013 - 11:17 | 4288238 tallen
tallen's picture

Efficient Markets at work.

Tue, 12/31/2013 - 11:33 | 4288304 NoDebt
NoDebt's picture

If markets were insensitive to manipulation it wouldn't do anybody any good, now would it?

Tue, 12/31/2013 - 11:21 | 4288242 The Axe
The Axe's picture

Holy GOLD MEMBER     boom!!!!!!    

Tue, 12/31/2013 - 11:22 | 4288245 Greenskeeper_Carl
Greenskeeper_Carl's picture

haha i just bought a little bit of gold and a 5 oz bar of silver, combined they are already 15 more than i paid for them. Not that i really care about these little day to day movements, but im glad i chose my moment. keep it up fuckers, i wanna buy more

Tue, 12/31/2013 - 11:22 | 4288248 Dr. Venkman
Dr. Venkman's picture

2013 was a complete joke of a year. 2014 will be a _________.

Tue, 12/31/2013 - 11:23 | 4288252 Quinvarius
Quinvarius's picture

...a punchline.

Tue, 12/31/2013 - 11:29 | 4288297 Rory_Breaker
Rory_Breaker's picture

same shit different year - SSDY

Tue, 12/31/2013 - 11:33 | 4288315 NoDebt
NoDebt's picture

Another record year for the stock market.  The numbers say it must be so.  Were you aware that 50.0000000001% of the time the year following a 20+% up year is also an up year?

You really can't argue with probabilities like that on your side.

Tue, 12/31/2013 - 11:45 | 4288348 Skateboarder
Skateboarder's picture

So what you are saying is that we go all in on that 0000000001% probability. In this crazy world, that just might work.

Tue, 12/31/2013 - 19:33 | 4289815 StychoKiller
StychoKiller's picture

Zimbabwe had the same thing happen, now where are those 100Trillion bills?

Tue, 12/31/2013 - 11:36 | 4288316 Dr. Venkman
Dr. Venkman's picture

perhaps. . .of a long and un-funny joke.

Tue, 12/31/2013 - 11:21 | 4288259 Bosch
Bosch's picture

repeat of the same old shit you saw in 2013?

Tue, 12/31/2013 - 11:25 | 4288262 SmallerGovNow2
SmallerGovNow2's picture

Chaotic and unpredictable mess.

Tue, 12/31/2013 - 11:24 | 4288268 Antifederalist
Antifederalist's picture

Return to reality.  This will not end well.  Collective popular delusion proves to be false.

Tue, 12/31/2013 - 11:28 | 4288276 Sashko89
Sashko89's picture

Fucked up

Tue, 12/31/2013 - 13:10 | 4288685 Pumpkin
Pumpkin's picture

Either ANOTHER really great year for banksters, or the very last year for banksters.

Tue, 12/31/2013 - 11:22 | 4288249 Quinvarius
Quinvarius's picture

As long as they can deliver product, short away.  It isn't like it is their gold anyway.  They have no personal consequences for looting and destroying the West.

Tue, 12/31/2013 - 11:23 | 4288250 SlipStitchPass
SlipStitchPass's picture

Break....Break.....Break Yo Neck

Tue, 12/31/2013 - 11:23 | 4288253 Wile-E-Coyote
Wile-E-Coyote's picture

Yeah baby I bought the dip.

Tue, 12/31/2013 - 11:21 | 4288256 nmewn
nmewn's picture

Its just like watching BitGold...lol.

Just exchange the paper for the physical and sleep well.

Tue, 12/31/2013 - 11:22 | 4288258 Antifederalist
Antifederalist's picture

Another day , more adventures in price discovery.   What a sick joke.

Tue, 12/31/2013 - 11:41 | 4288336 John Law Lives
John Law Lives's picture

Jim Grant would call it... price administration.

Tue, 12/31/2013 - 11:23 | 4288264 q99x2
q99x2's picture

CNBC sucks.

Tue, 12/31/2013 - 11:29 | 4288288 Antifederalist
Antifederalist's picture

And their masters suck worse.   Remember boys, what goes around comes around........

Tue, 12/31/2013 - 11:26 | 4288269 Rubbish
Rubbish's picture

Some crazy shit. One thing for sure, Gold & Silver guys ain't budging and keepa stackin. In your faces bitchez.

Tue, 12/31/2013 - 11:46 | 4288346 Being Free
Being Free's picture

...Gold & Silver guys ain't budging ...

Amen. 

I'm coming up on my 60th trip around the sun and have been accumulating pms for the last 50.  Mostly AG, a little bit at a time.  Never sold or parted with a dime of it and can guarantee I'll never trade it for a fucking piece of fiat.  It's a pretty nice stack; now if I could only remember where I stashed it.

Tue, 12/31/2013 - 12:44 | 4288617 Meat Hammer
Meat Hammer's picture

Whenever I think of my stack and the $1,700 per ounce that I paid for it, I get a little weepy over losing $500/oz, then I think about the history of fiat currencies and I feel better.

Thu, 01/02/2014 - 02:44 | 4292643 MeelionDollerBogus
MeelionDollerBogus's picture

you know, with the coming price rise in gold & silver, it's a risk but it's not a big one, you could probably get a ton of that back with just one options contract.

Yes, I know, options carry big risk in % down on down swings and expiry, blah-blah, let fear be your guide & avoid it if you fear it even a little.

But AGQ calls go out to 2016 january now, and the cheapest call I see on that is for strike 34,  AGQ C 15JAN16 34.00 , ask= 2.00. Bid is 1.45. I look at it this way.

I suspect gold could easily be 2500 to 3500 by that time.

Or let's say it's only going to hit 1700 by then. I did a little math & I came up with this:

ln silver = gold x 3/2635 + 1297/810 (or Phi if you want, it fluctuates a little) for over a year, within about 3%. That's not too bad.

agq = silver2 x 8/191 also within about 3% overall but on last check it was off by only 2 pennies/share.

So... pop in a 1700/gold and get (usd) to get 34.353999 silver. Pop that into the AGQ eqation to get 49. Let's call the break-even for the 34 strike at 36.5 that's still $100x12.93 in your pocket. Now let's say gold does pop to 2500 by january 2016 (or realstically mid-2015):

2500 gold: 85.4161 silver , AGQ = 305.5877

so that leaves 305.587718989 - 36.5 = $100x 269.088 in your pocket.

no margin, 1 contract, maximum loss fees + $200.

Just a thought 26.9k is a nice bundle to bag for only $200+fees, http://flic.kr/p/f17z1s , AGQ chart not uploaded but you can scatterplot it yourself with libreoffice and the CSV download of data from freestockcharts.com

I know it's chasing paper but I look at it this way. At worst with buying real ounces it's a higher cost per ounce as a matter of insurance vs prior&coming loss possible. As a matter of a rise to your benefit it's a reduction in ownership per ounce.

Tue, 12/31/2013 - 11:26 | 4288270 pods
pods's picture

Gold got jealous of Bitcoin's volatility.

pods

Tue, 12/31/2013 - 11:24 | 4288271 yabyum
yabyum's picture

For those who purchased this AM. We salute you!

Tue, 12/31/2013 - 11:26 | 4288286 El Hosel
El Hosel's picture

Happy New Year Benny,

 Pull My Goldfinger, early and often.

   ....

 http://www.youtube.com/watch?v=51Wg6k9cWhM

Tue, 12/31/2013 - 11:33 | 4288303 TalkToLind
TalkToLind's picture

And another salute goes out to those who tried to buy but were booted out by buggy overloaded vendor websites.

Tue, 12/31/2013 - 11:26 | 4288275 Xibalba
Xibalba's picture

worst drop since '81....well, what happened in '82?  Yeah.  Cnbc and Joe Weisenthal can suck my gold member. 

Tue, 12/31/2013 - 11:28 | 4288281 devo
devo's picture

But Bloomberg said gold is on biggest "rout" since '81. That's not biased or anything.

Ps. I can't believe GDX trades at 21. That is going to be an awfully good deal by 2015, if not sooner.

Tue, 12/31/2013 - 11:28 | 4288282 Magnum
Magnum's picture

Dudes. It's $1210. Settle down. 

Tue, 12/31/2013 - 11:46 | 4288356 Greenskeeper_Carl
Greenskeeper_Carl's picture

ya i dont get all the excitement either. They can keep it at this level as long as they want. I'm less than 30, and this is my retirement plan. Ill buy up all I can. I understand the tylers posting when it gets monkey hammered by 25-30 in a brief period due to 'someone' selling massive numbers of contracts at once, because that is not how an actual person trying to get the most money out of a deal operates, it is most definetly manipulation. don't get me wrong, I like seeing that exposed at least somewhere, but then it goes up by 15-20 $ and everyone acts like the next stop is 10k/oz

Tue, 12/31/2013 - 11:54 | 4288375 Magnum
Magnum's picture

Someday there will be another gold rally but for now, its not done puking its guts out.  

 

If you recall the famous frantic ZH story about a massive shortage of physical silver, because the mint had sold out of 1 oz proof eagles, well then you know how stupid the authors here can be on the subject of PMs.

Tue, 12/31/2013 - 12:08 | 4288437 Oldballplayer
Oldballplayer's picture

I own gold.  I own silver.  I even own stocks and bitcoin.

 

I have to laugh at all of the doomsdayers on ZH.  If anyone had followed the darkness here they would be down a shit load from Gold and Silver, missed the bull market in stocks, and shyed away from bitcoin.

I hope you are all just joking around here.  Otherwise, its just freaking sad.

Tue, 12/31/2013 - 12:41 | 4288589 Odin
Odin's picture

When the stock and bond bubble finally bursts I'll be happy to know that I didn't participate in it. Making money off of the mechanism of the destruction of my country wouldn't sit that well with me when trying to explain to my future children the reasons why a truly free market and sound currency are of the utmost importance to a functioning and prosperous economy.

But hey, that's just me. I get it, some people don't have integrity.

Tue, 12/31/2013 - 12:53 | 4288636 Oldballplayer
Oldballplayer's picture

If you really think things are going to be that bad, then you have an obligation to participate in order to prepare. Because if it gets that bad, you will be dead. Your daughter will be in some guy's harem.

Tue, 12/31/2013 - 16:31 | 4289352 Tall Tom
Tall Tom's picture

The ends do not justify the means.

 

What a "Moral" Relativist!!!

 

You are just another atheist.

Thu, 01/02/2014 - 02:28 | 4292630 MeelionDollerBogus
MeelionDollerBogus's picture

Atheists aren't moral relativists.
They're people who aren't fooled by the slave-master fiction of 'gods'.
That fiction is written to attach puppet strings to the fool-hardy.
Those who can't believe are immune to that attack.
There's plenty of other attacks but when you follow the fiction of your overlords, crafted for the weak-minded, you are their puppet & attack yourself in their name at their bidding.

Tue, 12/31/2013 - 17:54 | 4289589 Greenskeeper_Carl
Greenskeeper_Carl's picture

I gotta disagree with you on this. Not all market participants are "making money off the destruction of their country" You wnat to talk to our government and the fed about that. Im not saying people who pump and dump and flip stocks for a living really do anything for society, but actual value investors such as myself are what helps a company and grow the economy. Unfortunatly, buy and hold isnt really gonna work in the long term anymore, but that another subject. Owning shares of stock in a well run, profitable company isnt whats destroying the country

Thu, 01/02/2014 - 02:22 | 4292623 MeelionDollerBogus
MeelionDollerBogus's picture

You obviously don't understand stacking or hedging. Buying on dipping prices is how you get more, not less, of a valued thing. Gold is a valued thing.

Hedging a buy means finding a short, be it futures or options, and that means making dollars quickly, maybe with margin, maybe not, on a dropping price of the same thing bought.

You can assume people did neither but you won't be accurate.

Getting a decent amount of gold takes years for some.

Getting a decent amount of silver, perhaps less time, but given the purchasing power will be equal not far from now to over 200 of today's dollars it's really not a concern to pay 18 to 38 per troy oz, be it USD, CAD, AUD, or whatever that floats to in EUR over the last 2 years (has fluctuated quite a bit). JPY? uhhh dunno. Things are kinda fucked up there, I'm not sure how to value anything in that regards given the duality of Abenomics & fukushima. It's a lot more serious then people admit, both, that's all I can say for sure.

Tue, 12/31/2013 - 11:29 | 4288291 TalkToLind
TalkToLind's picture

I'll bet CNBC's stock ticker went from displaying negative gold quotes every 15 seconds to positive gold quotes every 5 minutes.

Tue, 12/31/2013 - 12:27 | 4288534 GrinandBearit
GrinandBearit's picture

Left for the gym this morning, gold was $1185.  Got to the gym 5 minutes later and gold was $1212.   I thought their gold ticker was broke.

Tue, 12/31/2013 - 11:32 | 4288300 Cornholiovanderbilt
Cornholiovanderbilt's picture

Are tungsten futures deliverable or are they cash settled?

Tue, 12/31/2013 - 11:34 | 4288306 ak_khanna
ak_khanna's picture

The stock, bond, commodity and currency exchanges have been reduced to gambling dens whereby the more powerful traders with deep pockets move the markets to maximize their own profits at the expense of the remaining not so powerful players. The big boys have enormous money power to move the markets in the direction which results in maximum profits for themselves. They effectively use the media to lure the other players in the market to a position where they would incur maximum loss.

The markets continue to rise till all short positions in the market are covered and the majority of traders move to the long side. Once this is done the market falls till all long positions are closed and short positions undertaken. Then rinse and repeat. The price mechanism has little to do with the actual demand, supply, fundamentals or state of the economy.

www.marketoracle.co.uk/Article40231.html

Tue, 12/31/2013 - 11:33 | 4288310 devo
devo's picture

Gold will go bonkers once the paradigm shifts, and it must shift in order for the FED to print more, which they must do.

That taper was a symbolic gesture to give the emperor clothes. Nothing more.

Thu, 01/02/2014 - 02:04 | 4292609 MeelionDollerBogus
MeelionDollerBogus's picture

http://www.physicalgoldfund.com/podcasts/

and this link,

Jim Rickards illuminates the same. Gold can fight back against a lot of things but not against inflation. It can protect who owns gold but for the majority who don't have gold the loss of purchasing power by deliberately debasing the currency vs gold to deliberately fight deflation using massive inflation... there is no defense. None.

Rickards brings up 1933 as a particular example. It's not just the confiscation, which didn't hit everyone, it's the devaluation inflation which absolutely hit everyone.

Tue, 12/31/2013 - 11:35 | 4288313 Hongcha
Hongcha's picture

It's a buy here, at or below the cost to mine.  My game plan is to stick to bullion for cash, particularly silver.  There are coin shows all year in my state.  I am already loaded to the gills with miners and not happy with that I can assure you.  I may never buy another mine stock as they are sitting ducks for all sorts of government, labor and even weather-related problems.

The lemmings are all on one side of the boat; this is the most obvious deal we have had in a long time.

No margin, no rush, no life-changing quantity.  Become a collector, so to speak.

Happy New Year gentlemen.

Tue, 12/31/2013 - 11:51 | 4288359 AGAU
AGAU's picture

I thought about buying mining stawks but decided against it, I can imagine a situation where the miners have to get bailed out, TBTB will never allow mining to stop due to low prices in my opinion.

Tue, 12/31/2013 - 11:35 | 4288320 orangegeek
orangegeek's picture

wave Y up - the gold bulls will be living it up in the months to come, but it won't last

 

http://bullandbearmash.com/chart/spot-gold-daily-moves-sharply-close-117...

 

there is more downside ahead, but that won't occur until later in 2014

Tue, 12/31/2013 - 11:35 | 4288321 papaswamp
papaswamp's picture

Whip saw to continue as paper gold folks don't know what to do and physical gold buyers go on solid buying spree ( and banks). Additionally, low prices put extraction costs above value causing the weak knee folks to bailout and mineral rights buyers to come in. Watch for physical inventory squeeze as production declines (except for Chinese and Russian held mines...most of that production will go into government coffers).

Tue, 12/31/2013 - 11:38 | 4288323 Wikidguy
Wikidguy's picture

End of year rollercoaster. Same as in the last week of Dec'11

Tue, 12/31/2013 - 11:38 | 4288324 Hulk
Hulk's picture

Supply is down to 10 tons, 9.7 tons is scheduled to be delivered. As with all fraud, it eventually has to end. Not saying that we are at that point, but its coming. Then comes the BIG War....

Tue, 12/31/2013 - 11:47 | 4288357 Mrs. Cog
Mrs. Cog's picture

Agree Hulk. It is one big game of musical chairs and when the tunes stop - war is inevitable.

On the bright side, the sound of clink, clink, clink while we count stacks is its own music. Err... or would be if it wasn't all at the bottom of that deep lake. ;-)

Tue, 12/31/2013 - 12:35 | 4288565 therevolutionwas
therevolutionwas's picture

I like the electric universe logo Mrs. Cog!

Tue, 12/31/2013 - 13:05 | 4288672 Mrs. Cog
Mrs. Cog's picture

Love the Thunderbolts Project :-)

Tue, 12/31/2013 - 14:58 | 4289067 Hulk
Hulk's picture

Interesting video here , Alex Jones interviewing Joel Skousen.

Very level headed fellow who states massive nuclear war around 2020

https://www.youtube.com/watch?v=jzjm9MJFSA8

 

Tue, 12/31/2013 - 18:26 | 4289669 Mrs. Cog
Mrs. Cog's picture

Thanks for the link! I never saw the video but did review his outline for strategic locations before we chose the locale for our new abode.

Thu, 01/02/2014 - 01:53 | 4292585 MeelionDollerBogus
MeelionDollerBogus's picture

any decent protection against biological weapons?
You realize that the entire GMO food model can be adjusted for GMO weapons into food supplies, and easily into mammal-cell attacking diseases, not to mention those which already are known but adjusted to get around every vaccine?
Just imagine weaponized small pox, influenza & ebola.
You know these fuckers have no problem making this say, 20 years ago, and then what? By 2020? Why bother with a messy nuke war if you can wipe out the biologicals & take a custom-made cure, waltz in & take all the non-biotic resources?

Tue, 12/31/2013 - 11:49 | 4288327 MollyHacker
MollyHacker's picture

Interesting situation is French-Saudi for Lebenon Arms agreement: this 3billion is probably going short time wise and surely the French want to go outside dollar & EU but just guessing. Certainly the French are going to want a BIS standered arrangement $2,200 minimums. If Saudis give the 3billion dollars to Lebenon directly, the money will be laundered off. This is about 3 tenths' of a percent of French GDP agreement.

Wed, 01/01/2014 - 21:20 | 4292118 MeelionDollerBogus
MeelionDollerBogus's picture

and then http://www.bbc.co.uk/news/world-middle-east-24823846 Pakistan sold nuclear weapons to Saudi Arabia which no one should care about at all because it's not like they're terr-ists (cough 9/11 cough cough, official story).

Nope, nothing to see here, better go yell about North Korea and do nothing, and yell about Iran's non-weapon nuclear program as if it were all about weapons.

Tue, 12/31/2013 - 11:45 | 4288342 buzzsaw99
buzzsaw99's picture

zh headline: gold soars +.5%! lulz

Wed, 01/01/2014 - 21:18 | 4291997 MeelionDollerBogus
MeelionDollerBogus's picture

SKYROCKETS 1040 pennies! To tha MOOOoooon, bitchez!

Tue, 12/31/2013 - 11:54 | 4288365 ZH Snob
ZH Snob's picture

time to get that last minute stackin' done.

PMs will be close to double by this time next year.

Tue, 12/31/2013 - 18:00 | 4289609 Greenskeeper_Carl
Greenskeeper_Carl's picture

nah, not buying that. Ill keep stacking, im loving this price. But I think they can keep the manipulation up longer than most people here seem to think. We are in for a long, slow collapse, IMO. How many here were saying the same thing last year, and look where we are now

Wed, 01/01/2014 - 21:12 | 4291863 MeelionDollerBogus
MeelionDollerBogus's picture

probably more. If you compress the time-scale on a log-scale (http://goldprice.org/charts/history/gold_10_year_o_b_usd.png not compressed as described) as well as the price you can see from the 10 year chart that 2006 and 2008 are repeating but this puts the next high for gold around 3500 with a pretty good peak to form beforehand of 2500 with a good expectation of downswings from there, short-lived though.
Given the analysis so far that generally ln silver = gold *3/2635 + 1297/810 (or around Phi, as it happens, http://flic.kr/p/f17z1s) this puts
gold,silver:
2000, 48.34
2500, 85.41
3000, 150.92
3500, 266.68
to these prices in those pairs.

Tue, 12/31/2013 - 12:02 | 4288378 Obama_4_Dictator
Obama_4_Dictator's picture

Man you guys never cease to amaze me in your short sighted thinking....on Monday it was well over 20 an oz....6 months ago it was over 24 an oz....a year ago it was at 34 an oz....and you guys are celebrating it at 19.76 an oz?!?  I'm confused....BTW, I am a huge S & G bug.....but come get with reality we are fucked and have been fucked and will continue to be fucked....there is NOTHING to celebrate

 

Personally, I think it's gonna be a long strange trip down, where everything is manipulated and prices of g&s stay low, the dollar keeps slowly losing status and the middle class and little people become toally insolvent,  and we all are forced to liquidate at maniplualted low prices because of increased taxes, and no jobs...don't get me wrong - I hope I'm wrong but I doubt I will be

Tue, 12/31/2013 - 12:25 | 4288527 therevolutionwas
therevolutionwas's picture

And China keeps feverishly buying the stuff.  Me too. (well not "feverishly," can't afford that).

Tue, 12/31/2013 - 12:36 | 4288576 ParkAveFlasher
ParkAveFlasher's picture

Nominal price vs. purchasing power ... if no money is available to fund a transaction, and the denominator of the transaction thus increases, then what have you lost in the nominal decrease in price?  The prerequisite of $800 gold is that few have $800 to spend.  Ironically, same as $1800 gold.  

Tue, 12/31/2013 - 11:55 | 4288379 Obama_4_Dictator
Obama_4_Dictator's picture

Dupe

Tue, 12/31/2013 - 11:59 | 4288389 the grateful un...
the grateful unemployed's picture

bear trap

Tue, 12/31/2013 - 12:01 | 4288394 Kaiser Sousa
Kaiser Sousa's picture

email from a red pill swallowing, brainwahsed, disinformed, dispondent real money purchaser... keep in mind, if they r still pugged into the Matrix, they r ur enemy....

"last 5 years----end of 09   17 bucks

end of 10  30 bucks

end of 11 28 bucks

end of 12   30 bucks

end of 13    19 bucks

it is amazing to me that you act like these numbers are anything close to what you and the metal gurus predicted years ago!!!    Man, you act like I wasnt in the bar---like I did not hear you pontificate years ago about the urgency of the situation--get out of the dollar now!!! yeah, I know man, Im full of shit---it never happened-----in fact you've always been "the prudent investor."

and let us not forget that part of time it was 50 bucks  (yup, keep stacking)

yeah, no way a retired guy on youtube in his 60's could have gotten fucked converting all of his retirement savings into metal last few years-----just non-sensical ramblings is all it is

and what does the metal guru have to say to the retired guy in his 60's?    keep stacking----pay no attention to the fact   THE FACT that you lost yo ass     dont worry about the fact that you are in your 60's and retired---how is the dude supposed to live today???   no one gives a fuck about that---keep stacking

at some time in the future metal will win     please be advised that we have NO IDEA  NO IDEA  NO IDEA  NO IDEA when this will happen

but everything we say makes sense

yeah, you completely deny that any person in the last 7 years that came in at the wrong time on the time continuum could have been walloped by metal ---silly, nonsense, demonstrably proven wrong by the very economic charts you produce----gut I GUARANTEE that when or it metal goes up next year you will be crowing in an email first thing---and no way will you ever admit that anyone could have been hurt in the previous 7 years------yeah, everyone in the last 7 years bought low and went high-----"

happy new year ZH'ers...

 

Tue, 12/31/2013 - 12:22 | 4288509 therevolutionwas
therevolutionwas's picture

Who said put your entire life savings into metals?

Tue, 12/31/2013 - 12:45 | 4288605 Kina
Kina's picture

Create your straw men so you can whinge. ..sort of like masturbating in oublic there dude

Wed, 01/01/2014 - 20:20 | 4291766 MeelionDollerBogus
MeelionDollerBogus's picture

ignoring the 50 high, next 260 high and all the reasons behind all the massive rises before is highly ignorant. Before you know it silver at 100 will be a low.

Tue, 12/31/2013 - 12:03 | 4288422 Zero Point
Zero Point's picture

*Yawn*

Someone wake me when paper gold reaches $0.00

Tue, 12/31/2013 - 12:03 | 4288424 Jim B
Jim B's picture

Bought some silver this morning!  Thank you market slammer!  I caught the low for a change!

Tue, 12/31/2013 - 12:05 | 4288429 Atomizer
Tue, 12/31/2013 - 12:08 | 4288436 Dr. Gonzo
Dr. Gonzo's picture

Silver Maple Leafs are the fucking bomb. Gold one's aint bad either. I say spend the extrra buck twenty for beauty of the coin. Plus you get a $5 face value floor. You can't get that garuntee with a Twitter stock purchase. 

Tue, 12/31/2013 - 12:19 | 4288474 BeetleBailey
BeetleBailey's picture

Just bought 300oz more of them for one of my clients....she has over 600oz of them....Beautiful.

Tue, 12/31/2013 - 12:07 | 4288441 eddiebe
eddiebe's picture

I wouldnt exactly call this 'soaring', but it's a good start. 

Tue, 12/31/2013 - 12:07 | 4288445 Obama_4_Dictator
Obama_4_Dictator's picture

And Now Gold is Dumping......

Tue, 12/31/2013 - 12:12 | 4288451 Dr. Gonzo
Dr. Gonzo's picture

Good. Going back down a bit. I slept late this morning. I got nothing but time, no debt, and a steady income stream. Come to me motherfuckers!

Tue, 12/31/2013 - 12:18 | 4288483 Obama_4_Dictator
Obama_4_Dictator's picture

Last time I checked we are all on barrowed time...

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