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Gold Tops $1,350; Surges To 4-Month Highs
Gold prices are up almost 2% today, the biggest single-day jump in over 4 months as spot prices cross $1,350 for the first time since October 2013.
Chart: Bloomberg
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GOLD Bitchez!!!!!
Fuck the fed and it's zionist rulers.
Bitcoin, it's fuck all like gold...
COMEX Commercials Are Ultra Short GOLD and SILVER Right Now...
Big Fights Coming Up In The SHIT Paper GOLD Markets...
(This Is Where THEY Fuck With The POG)
http://www.cftc.gov/dea/futures/deacmxsf.htm
Ah, paper gold during a time of crisis... it's almost as safe as Bitcoin... almost...
USD BITCHEZ!!!
Wow, BofA really nailed that call...
/sarc
$1,350? That's funny, I wonder what the "real" value of gold is...
Relatively speaking, although they're increasing short positions fast, the commercial short-to-long ratio is still pretty low. I'd be looking for well over 2:1 short - long, even up to 3:1 short - long before some 'market surprise' causes one of those 'completely normal' waterfall selloffs.
My 2014 trade is looking OK so far.
Long GOLD @ 1220...... currently 10.65% in the black
Shorth DOW @ 16,000.. currently 1.05% in the red.
Anyone else made 9% so far this year?
You haven't made 9% either. if you are invested 50-50 then you are up 4.5%. Case in point why you can never believe what another investor tells you. it's never the whole story.
You're an ass. No one gives a flying fuck how "well" you're doing you fuckin' moron. Grow up.
Don't post to show off your outstanding prowess and if you do, make sure you tell us about your lossess too you fuckin' shit turd!
What a fucking troll No body gives a fuck about your outlook.
If you're a pimp the price of pussy is up 20% this year.
Wholesale or retail?
You made 9% in what? Ever-increasingly-worthless US dollars?
Oh, wow, you da man!
Worthless compared to what?
Roubles? Yen?
Bitcoin, it's fuck all like gold...
This isn't gold rallying moron. If you're going to cheer for your own team at least make sure you show up at the right game.
You really are a tosser aren't you. Let's just take a quick look at that bitcoin rally eh. Oh... hang on...
if it's not gold rallying, what the fuck is it?
because I don't see too many people running to bitcoin in a crisis do you?
if it's not gold rallying, what the fuck is it?
Cartel controlled gold contracts moron.
Bitcoin gained $100 TODAY. just saying...
And tomorow will lose 200, no big deal.
It's FIAT currencies falling!
CHINEE Are Happy ...
it's gonna take alot of derivatives to beat this baby down from now on.
Precisely why being on the short side is a dangerous proposition , as one never knows when shit is going to happen...
Attention Goldman Sachs: how are those shorts looking boys?
And how far underwater do they have to go before Yellen dons her wetsuit and retrieves them?
LOL, it's funny because you took what they said at face value. And thy new name shall be.......Muppet!
paper gold shorts are precisely what brought down bear sterns...
Let's hope history repeats itself many times over.
Almost there............almost there......
http://www.youtube.com/watch?v=t93PJlv3EgQ
Bitcoin now up $217 since Feb 25th and nada word about it.
Last ditch effort to launder funds if you ask me.
If you live in the Ukraine maybe bitcoin is looking pretty good about now.
up $75 in the last 24 hours
Oh, yeah?
How about down $600 since December?
Ukraine imposed capital controls. Bitcoin is a long play on capital controls.
You do the math.
Math says: gold is the clear winner. Be armed, be stacked & be fast moving.
Bitcoin won't be able to get out where transmissions are stopped & snooping is used to get the wallets open because he owners are all using windoze virOS & other cell devices completely open to snooping.
Gold has no such weaknesses. If only 1% of Internet traffic with bitcoin transactions got through while the others went to usurper wallets I'd much rather take my chances with gold.
That's because 4 hours later it will be down $400. That's typical & shows why no one should be a bitcoin bag-holder.
everywhere r the signs of where this is headed...
either get your ass in gear or prepare to be draggin a rickshaw behind your ass...get to stackin....
"Last year, China imported and mined far more gold than its citizens and businesses purchased. Some think there was substantial back-channel hoarding of the metal due to uneasiness over the economy while others speculate that the People’s Bank of China , the central bank, secretly acquired the metal for its foreign reserves. A few believers of the second scenario argue that Beijing will attack the dollar by soon announcing a new gold-backed currency.
This month, the China Gold Association released data showing that the country’s consumption of the yellow metal in 2013 reached 1,176.4 metric tons, an increase of 41.4% over 2012. Yet that tonnage is far less than the total of mine production—428.2 tons—and imports from Hong Kong, 1,158.2 tons. The discrepancy: 410.0 tons.
As large as that number is, the real gap was undoubtedly bigger. Beijing does not publish gold trade statistics, and there are substantial volumes entering the country unrecorded, through Shanghai and gray routes, with both the government and the wealthy bypassing established channels. Analysts, in short, believe China’s “apparent gold consumption” last year was over 1,700 tons, making the unaccounted gold more than 500 tons.
So where did all that metal go? Some was used for jewelry that was exported. Bars may have been delivered to Iran to surreptitiously pay for oil and gas. Gold could have been lost in the complicated and opaque accounting system maintained by the Shanghai Gold Exchange. A small amount was acquired by wealthy—and nervous—Chinese in off-the-books transactions. Banks were buying for their own accounts.'
http://www.forbes.com/sites/gordonchang/2014/02/23/call-sherlock-holmes-...
Gold and silver is by it's very nature designed to get "lost".
Here is my question about China and a gold backed currency:
How can an exporting nation have a strong currency (versus constantly devaluing competitors)? If China did have a gold backed currency, it would move to the moon. There goes their edge in exports.
Would this not slit their own throat?
pods
I think its all relative, look at America at the turn of the century (1900’s) Strong Dollar, gold backed, and a very larger exporter of goods.
I think the whole “strong currency = low exports” is a bankers argument to scare people into agreeing into a weak currency
My thought were that the first nation that agrees to a gold backing would have pressure on all sides and spend all their time defending outflows of physical from the country.
If I can print up IOU's and exchange that for physical I just don't see you holding on to any physical.
Maybe they are just going to use gold as a way to show strength without backing, idk.
And China's edge has been cost and price. Well made Chinese products show no real edge with other producers.
Germany seems to have done well with goods, but they also had the PIIGS debt helping them along.
I just cannot see a currency being able to survive the current competitive devaluation paradigm.
pods
"Well made Chinese products" GEEEEEEEEEEEEEEEEEEEEEEz.
My 3 yr old tells me don't get any of that china crap. And she cain't buy Apple because she doesn't believe in global warming.
Oh the humanity.
Benghazi; 0 and billary lied; people died.
Maybe China will only accept payment in gold-backed currencies. Paradigms are a shifting.
The Chinese will never gold back their current currency. It's a printing competition to the bottom. When the currencies die and gold is valued correctly they will be in the best position having acquired so much.
That was my thought too.
Exactly, why would you tie to your currency to a commodity when imports of another commodity completely dwarf your stock of the first commodity....
Something to ponder.
If the US dollar is on the way to the dustbin of history, and in my opinion it is well on its way there - what do you suppose will replace it as the numéraire for world trade? Will commodities be priced in IMF controlled SDRs? On days like today I think not.
Or perhaps an oil producing nation would consider something of real enduring value in trade for their ever diminishing supply of Oil. The new reality. The petro$ empire is ending. As LOP is want to say: hedge accordingly.
It will not be replaced in any gradual sense...
By the time the dollar goes tits up, the international movement of oil will be a historical footnote...
So there may well be some barter, but global trade will be de minimus.....
Global trade wasn't necessary, frequently. Some food items can't be grown elsewhere but almost all natural resources could be found in many parts of the world and people could move instead of money.
Money would move internationally where it's impractical for people to do so.
They sell to their own people. Nationalize all the greedy asshole US corporations and they own manufacturing so pay it or do without it. The US power is gone and we're debt sers, China owns all our farmland etc. They win and we look for politicians and banksters to hang for selling us out.
Also important is their printing overhang. They have printed about 3X what the west has, as ZH has said.
That requires a huge reset before going to a fiscally constrained environment that a gold backed currency brings. I am not sure that it ever becomes in their goals to do so.
They might just become like every other Bankster FED out there... Until they can no longer do so.
Maybe they want to have strong imports. Of other raw resources.
Time for Forbes and others to wake up to more accurate numbers of Chinese gold purchases. 2197 tones in 2013 through Shanghai.
http://www.ingoldwetrust.ch/gold-trade-numbers-2013-broke-records
Next you'll be telling me to doubt the numeric accuracy of Jon Corzine, MtGox & the BLS!
Crimea stack!
Damn that grill I was saving up for just got a lot moar expensive.
http://www.14kgoldteeth.com/upload/apo.jpg
Flavor-Flav's broke ass is selling his gold grillz for cheap. Maybe it'll be a good fit for you. You could get it form fitted. lol
http://cdn01.dailycaller.com/wp-content/uploads/2010/10/Screen-shot-2010-10-20-at-9.48.43-AM.png
Zoloto, sukkas!
Gold and oil are moving in lockstep....
RBOB over 3.... which must be close to an all time high for the first week of March...
BTW, compared to the summer of 2011 when the GOR was ~1900/105, gold still has long way to run before it recoups its huge losses since then in real buying power...
normally your comments deserve +1's but http://scharts.co/1cPJCX3 doesn't look lock-step to me.
Just is what it is.
I can see some short time windows where correlation would be high but then it switches. Without an alogorithm to determine when to flip the correlation & what to figure is the next equation... I would just say "they aren't" to be simple.
Negative GOFO and Rising Gold Prices Interesting analysis of Gold Forward Offered Rates.(LBMA)
Turd's been kickin' some ass lately. I'm glad he posted that one outside the paywall so that all could see it. We'll have to watch now and see if the trend he spotted stays true to form over the next few GOFO cycles.
'Turd's been kickin' some ass lately'
Does this make up for the past two years when a 2 year old could have done better? Turd is only right when metals are going up. The rest of the time he is an excuse making turd.
Whenever I see you screen name my brain ALWAYS reads it as 'MC Dirt Nigger' which is both funny and worrying.
now THAT'S funny! I need me some parachute pants!
Bitcoin tops 600 ! 10% up today.
It'll come in extremely handy with those capital controls in Ukraine : )
http://www.coindesk.com/hold-ukraine-protestors-turn-bitcoin-fundraising/
Grab as much as you can get your hands on!
That's just mean, but true.
so, down 30% in the next 4 hours?
HAHA....... Either Gold finishes below 1340 today or the miners are going to blast off. Get the popcorn and watch. Game is rigged, but its still a game as a sheeple I dont know which way. Holding NUGT and Junior miners...
Gold shorts should have been squeezed into a bigger run than we have seen so far.
Shorts don't lose a dime on this rigged market.
They placed their calls 21 nano's ahead of their puts, 24/7/365 and then @ 22 nano's behind the put ahead of their calls, and re hypothecated 11 times before a retail enter went electronic, based on ISM beat, billary having a stroke, and putin's ultimatem. .
No story here. ISM beat according to previous post.
NOT.
New equity lows here. Maybe I haven't heard the news...
Galt bitchez
Meanwhile co-workers sending me WSJ articles why I'm an idiot
http://finance.yahoo.com/news/word-warning-gold-investor-fear-081900233....Maynard Keynes of 'barbaric relic' fame made his fortune in gold mining shares.
Watch what they do, not what they say.
they're sending you lame-stream propaganda shit from losers who either don't understand the fundamentals along with the manipulation within the fundamentals or they do understand it and they're just a bunch of scumbag liars for the cartel criminals. They act like gold is all black or white, up or down, or whatever George Soros says, blah, blah, blah...while we all know the PM's are a very murky mess of grays and some bloody reds in between all that bullshit hype. Send them back some of this action and wake them up. They most likely don't have a clue what's really going on except for what the propaganda state-run so-called "media" spin is.
http://www.tfmetalsreport.com/blog/5530/negative-gofo-and-rising-gold-prices
Slam before the close. Right?
Please may I have another?
Public banks are the answer. Have you looked at this solution?
Fuck war...make the corporations fight them. Or the Banksters...
Gold have been correctively moving up for a few months now
http://bullandbearmash.com/chart/spot-gold-daily-small-correction-push-1...
1360 has been broken as expected - 1425 is next
Hey, Bank of America, I went short gold just like you suggested and now my accounts in the red.
--
hehehe
Currency Wars: The Yuan's Silent Scream - Portrait Of A Derivatives Bomb Being Detonated TNR.v MUX GDX GLD
"David Kranzler published a very interesting article confirming our discussion about the ongoing Financial War involving USA, Russia and China now. Bo Polny on the chart above presents his view about the implications of US Dollar crash below 80.00 level for the Gold market and you can find our thoughts on the links below." http://sufiy.blogspot.co.uk/2014/03/koos-jansen-chinese-physical-gold.ht...
"Anyone else made 9% so far this year?"
I'm up about twice that because I'm in the leveraged gold ETF. When miners are trading at 10 year lows, might as well leverage this fucker to the gills :D
I don't have the balls to short anything.
Watching the BTC markets and seeing gold skyrockets methinks there is another pump and dump scheme going on. Stay tuned for the madness.
http://www.youtube.com/watch?v=wwhI7qdrsaA
Gold surges 2% and it's a headline. Bitcoin crashes 30% and it's a headline. Bitcoin explodes 20% and predictably not even mentioned. Easy to overlook eh?