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And Now Gold Is Soaring
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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I freely admit I made a gold medallion out of a Mexican 50 peso and wear like a badge when I'm out drinking with my friends. Life's too short...and I look good.
The PAMP 1/2 and 1 OZ Silver with built in bezzels make awesome necklaces. For gold I Like to wear the Pamp 10gram or larger gold in a bezzel.
You gotta go big or go home if you're gonna do it. The Mexican 50 Peso Gold was as big as I could find a bezel for. I tried to find a bezel for a 5 oz Perth but none exist so I compensated with a thick ass cable chain that the bezel would barely slip through. The cast of American Hustle would eat their hearts over this thing. Now did anyone give me shit over it? Only sighs of envy and respect from my crew and the ladies. Hey. It is gold. There is no such thing as tacky or gaudy. Ask the Indian dude with the 24k shirt. Let's have fun here people. This is life. We need gold in it.
Can't remember who, but when I used to hang at kitco 2006/2007 some profilic writer claimed we would see more and more volatility and crazy price swings the closer to the crash we would come.
The game back then was wealth preservation, and it still is. It also appears we have some way to go yet.
Yeah I really thought 2007 was the real thing, but alot of ppl sold gold when it followed stocks down. We all underestimated the ability to kick the can--that we are still holding together only indicates the hold tptb have over what happens.
What we are clearly witnessing (as many of you have written) is that fiat devaluation (QE/manipulation) has been used to suppress price discovery in the metals. Thus, anyone invested (claims) in fiat is paying for this.
This suppression is of course not the primary reason for QE (gold is comparatively a small market). The reason we have Zirp and all the injections is to stave off the deflationary collapse we have been trying to avoid at least the past 20 years. Money is still debt and the interest on new debt must come from somewhere.
When we stop creating new debt to service old debt, payments will begin to fail exponentially and we will collapse. Every claim that is not tangible will be cancelled, and that will be the deflationary collapse.
This is also very clear.
A reform of the financial system is needed, and we have to place our bets.
Surely gold is a pretty good bet, and as long as you invest in physical, be glad that you get to take part of at least some of the QE benefits and manipulation.
The more of this volatility we have, the more will be bought and go into hiding, and the closer we come to the paper and phys dislocation event and real price discovery. At that point phys won't be available to "us" anymore--it will be too expensive.
Why play poker when you know the other players are fukkin cheating? I hear the Kingworld rants about China draining GLD and all physical supplies... strange, but the Sprott Gold Fund (PHYS) has not been touched... and still trades at a DISCOUNT to NAV. And yes, if you hold over $100K in it, you can opt to get the physical... so, WTF? Martin Armstrong is a conceited boor... but probably right.
$1180 support holding very nicely.
Big slam down then an FU reversal.
Could that have been the bottom?
No.
Monday, December 30, 2013
http://harveyorgan.blogspot.com/
Harvey Organ proposes position limits of precious metals to the CFTC | 2010
http://www.youtube.com/watch?v=yeUI87hSvr0#t=20
Enjoy
I pulled the trigger yesterday afternoon at $19.50 an ounce.
$18.85 would have been better.
I wish I could time it better like the big fish do.
i wouldnt touch gold for 6 months....
And in 6 months you won't touch it for another 6 months. I understand your plan.
Who gives a fuck what the price of gold is - I bought a shitload at 900 bucks and when it went to 1900 I did not celebrate - and when it droped to 1200 I did not bitch and wail.
Why you ask...
Because I am NOT trading -- this is my insurance policy -- I know what is coming -- and I am hopeful that owning gold is going to ensure that me and my family are not eating dog food when this fucker hits.
So enough of this bullshit talk about gold going up or down - if it goes down that is excellent - because you can buy more for your money - at the end of the day its going to be the only asset worth fuck all - so chill.
Do you suppose the NSA is filing some of these posts under "physical metal buyer" for future reference if they start making in home visits?
Pardon my paranoia.
I really do not care. I hope that they are cross correlating some of these posts as Rocket Propelled Grenade Manufacturer.
Here is a video that gives you enough on how to construct a warhead...
http://terminalcornucopia.com/#weapons
Now that we all know...Whom shall be paranoid? Whom needs a gun?
And now that they have a reasonable suspicion that YOU know...Does that cause you any concern?
I probably should have put a sarc in there.
Victor Sperandeo tells people the same thing --when they ask "When should I buy?" "What's the right price to buy at?" Etc. You buy at any price.
Random question for all ZH's: how many of you were in-country Vietnam October, 21, 1968?
The reason I ask this question: how many witnessed the sudden and very secret conversion of the Miliitary Payment Certificate Series 641 to Series 661, and the utter chaos among the Vietnamese population at that time. It was done in an attempt to render useless the "money hoarded" by black marketeers. I believe that this is a template for something similar happening here in the USA, in the near future.
Pop's was there flying slicks (UH1's). I was 3 years old...
I was in-country from Dec 1966 to Mar 1969. I extended twice, the second time to get out of the Army 3 months early.
soaring? lol. right
It's up about 4 bucks today. after losing $17 yesterday.
Soaring at the pace of, say, a fukushina sparrow.
Okay, now that's funny. A Fukushima sparrow? (And who named that city in the first place? wtf)
Simple. It's just paper buying and selling in large quantities. A joke when compared to the physical market which is consistently buying.
And.......it's gone!
"Soaring"? SOARING?
Has somebody totally frikkin lost it, hit the bubbly early, or has the biz model changed: from cutting-edge economic and financial journalism, to the National Enquirer.
Hey, how about we rename ZH to the Financial Enquirer?
ya. I watched the chart long before opening this; the article was just for me to comment but your comment said it. FUckity fuck. 1214usd/oz OH MY GEEEzzzz it's SOARRRRRed.
Pffft.