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Gold Tumbles To 2-Month Lows... Because It's Tuesday
Gold is down 6 days in a row and has broken back down to its lowest since mid-February (under its 200DMA once again).
As it seems someone wanted out in a hurry as Europe closed...
2500 Gold Futures contracts in 2 seconds at 11:35:48 $GC_F $GLD
— Eric Scott Hunsader (@nanexllc) April 22, 2014
The reason... aside from growth stocks are rallying which must mean the economy is fixed and therefore no need for the world's central banks to print any more money (oh wait apart from the BoJ and ECB)... is unclear... though we suspect the driver is to do with the following crucial chart...
h/t @Not_Jim_Cramer
Of course, gold is still the winner in 2014 (for now)...
Charts: Bloomberg
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So why are there so many songs that deal with horrible Mondays?
and.... maybe Lynyrd Skynyrd are gold bugs?
--> https://www.youtube.com/watch?v=ysP_X_CmE_s
Cuz Tuesday's just as bad. Lord, and Wednesday...even worse.
OH SHIT I BETTER SELL ALL MY GOLD!!!!!!!!!!!11
Better sell it to the COMEX.
They don't have any..
At all.
Who needs gold when you got a priceless collection of Franklin Mint Limited Edition Pie Plates! I'm gonna make a killin' with these!
Like these?
http://www.youtube.com/watch?v=h9w0BFiFOTs
http://www.youtube.com/watch?v=w-B-V801QBA
I bought another bambo fly pole..., I don't fish!
Laugh all you want pal, but I recently bought the ENTIRE Star Trek collector plate series! While there's no gaurantee they'll go up in value, all those other collectible plates did!
And while I can't eat my plates, I can eat OFF them! Tonight Spock gets a beard of mashed potatoes and gravy.
Spock's beard!
I c wut u did!
because heart attack Monday deals with people having to kick off the first day of the PONZI WEEK...
thats fine, i welcome the discount. I am young, i have lots of time
I'm old. May kick off any day now. Being stubborn, I will never let go my shiny @ these price levels. So....
Some young punk in my circle may inherent something of serious value. As the gov is setting young types up for perpetual servitude to us old farts, I'm not as bothered by the prospect of not seeing higher price levels as I used to be.
Weird as it sounds, people your age *should* be (quietly) rooting for the continued suppression. You're being priced out of everything else.
Dad, is that you? I love you dad.
"Some young punk in my circle may inherent something of serious value."
It must feel reassuring knowing that the young punk will promptly sell that shiny of yours to buy a new unneccessary piece of "technology" that will end up in the scrap heap a year later due to obsolescense.
The Fed is a big fan of the Moody Blues and their hit song "Tuesday Afternoon":
https://www.youtube.com/watch?v=GEMuAnFH_lM
It's just the kind of day to leave myself behind,
So gently swaying thru the fairy-land of love,
If you'll just come with me and see the beauty of
Tuesday afternoon.
Tuesday afternoon.
Meh....frankly I don't care. TPTB have a collar on gold and they will keep it that way until the whole system breaks. Gold and silver is money that doubles as insurance, and I'll be taking profits today to add to the policy.
but this is THEIR system that they are breaking.
These folks are all long gold and silver.
If you wind up with an epic deflation...you're talking credit destruction in the TRILLIONS.
Long equities to boot? Bwhahahahaha. What isn't being levered here you Wall Street folks??? All while "waiting for recovery"?!!
I mean should I be triple short JPM here? What other "obscure, non-trade able so called rehypothecatable asset to a billion time a million" you guys got here?
Just asking cuz I'm bullish and want to keep buying here Big Boyz!
@Dr. Engali
TPTB have a collar on gold and they will keep it that way until GERMANY GETS IT'S GOLD BACK OR the whole system breaks.
Fixed it for you!
Lol... Germany isn't getting that gold back.
warten, das ist Wolfram! scheisse!
it's my fault again...sorry about that everyone. I grabbed a bunch of shiny silver gear at 20...then I grabbed more at 19.75...then I figured, WTF...may as well grab a bunch more when it hit 19.50, I mean, this can't go on forever, right? hahaha
I guess as long as I keep stacking the phyzz I'll eventually drive the paper prices down to fucking ZERO!
Will the dealers give all their phyzz away for free at that point or will they charge a small premium on top of ZERO! lol
Oh well...I'm happy to be able to keep scooping it up at these levels. I mean, shit, isn't any silver under 50 an ounce a steal anyway??? Not to mention any that can be stacked this far under the average cost of production.
We know this B.S. can't keep goin' on forever though, so being patient and continuing to stack will be the key to our survival after the great monetary reset occurs.
I think its the Chinese really turning on the screws....they want it bad...and they have HFT computers too.....
"Politburo East meets Politburo West."
The last dollar denominated, rehypothecatable asset to be bought NO HOLDS BARRED!
Netflix...here we come!
and stupid china are buying hehe
oh wait a minute
Here is the most shorted asset by far and away...and it's not going up?
How many times does someone have to explain this? Sell your gold and silver, cover all of your short positions, sell your bonds, real estate, collectables, etc. and put all of the proceeds into Facebook, Linked-in, Tesla, First Solar, Groupon, Netflix and Amazon. It's the only way you can invest and have any hope whatsoever of making any money.
Sarc* much?
Special-delivery [Sark]
Meltdownnnnnnnnn!
U f0rgo7 b1tcoin! It h@z th3 invULn3rablez
Here's yer sign...
Options expiration folks
http://goldsilver.com/video/china-s-lust-for-gold-set-to-jump-25/
who's fooling who?
im stackin...no matter the phony paper price..
DEATH TO THE MONEYCHANGERS.....
more like "death to New York, New Jersey, New England, New Galactica"... I don't know. this really doesn't feel like the bills are getting paid here.
I don't pay much attention anymore. The manipulation is blatant, the system will eventually implode. Keep stackin'
Goldman upgrades gold stocks:
http://seekingalpha.com/news/1684553-goldman-upgrades-precious-metals-mi...
UH OH!
Not surprising now that the bullion banks have finished getting rid of their shorts and that the Producer/Merchants have the lowest short position in history.
Keep Stackimg.
That has been the overall mantra here.
Looks like another example of loss of faith in GLD and other ETFs. I'm in agreement with that particular lack of faith.
Looks like the gangsters have won again! Your a fool if you loose faith given the fraud in the whole sytem.
For your information GLD and ETFs are paper ownership of gold. Do you have faith in a paper certificate that says you own gold?
So Tuesdays are shopping days. Thanks for the tip!
I think we are all long enough in the tooth at this stage, AU-wise, to laugh at these kinds of price movements and simply thank our insanely corrupt central planners for selling us their last real asset at fire-sale prices.
This will not happen again for generations. It's a good time to be us.
The first thing risk worries about is getting it out the second thing is GETTING It Out? It is dollars and they will be coming home to STOCKS AND BONDS etc etc its money (re re re ....whatever) its still dollars and they are rushing home to do gooder works back home US....A. I think u know the rest of the chant eventually perhaps?
You ever get the feeling that American foreign policy does not really give a shit because of some real and hidden message? I get a feeling thar everything is a plan and the world would expect it to be chaos! Even under a central government even run by banksters? People will feel better with a strong dollar and buying only American because of no alternatives or getting old fast Americans bought very little?
What the Fed don't understand is I'm dyslexic, so $1,300/oz to me looks like $3100/oz.
F YEAH I'M IN THE MONEY.
KEEP STACKIN.
I am curious how old is everyone here? Im 31 and have been stacking since 2010.
40, also since 2010.
Blue Horseshoe loves Au.
I lost my paper gold in a boating accident.