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Gold & Euro Tumble As Draghi Promises More, Stocks & USD Jump

Tyler Durden's picture




 

So the 'market' got what it wanted to start with - a rate cut into the red so banks can start charging for deposits - and despite an initial kneejerk higher in EUR and lower in stocks, they are now resuming to the path the central planners would like. EUR is down 40 pips and S&P futures up 4 points. The USD is rising (as EUR weakens) and there is significant pressure on gold and silver. Treasury yields are also sliding (despite the equity strength). The press conference is up next and Draghi has 'promised' to unveil more policy there... The reaction moves are fading as we post...so it better be good

 

 

Charts: Bloomberg

 

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Thu, 06/05/2014 - 08:02 | 4826125 Ignatius
Ignatius's picture

Gold negative?  Fuck me runnin'....

Thu, 06/05/2014 - 08:08 | 4826146 Stackers
Stackers's picture

We are not going to print money  - gold goes down

we are going to print money - gold goes down

we are thinking about printing money - gold goes down

we are talking about thinking about printing money - gold goes down

we are thinking about talking about printing money - gold goes down

Thu, 06/05/2014 - 08:12 | 4826165 Da Yooper
Da Yooper's picture

They call that

 

M A N I P U L A T I O N

 

Brought to you by corupt bankers & the US government

Thu, 06/05/2014 - 08:28 | 4826219 Haus-Targaryen
Haus-Targaryen's picture

When this thing explodes, and you have essentially chaos all over the United States -- I wonder where the American middle and upper-middle classes go?  Every English-speaking country will be overwhelmed almost instantly, I could see Germany and Scandavia doing quite well.  They have a huge problem with a shrinking population, nothing a little civial war and reverse Atlantic Migration cannot fix. 

Thu, 06/05/2014 - 08:34 | 4826242 Winston Churchill
Winston Churchill's picture

I cannot see them being welcomed at that point.

If you are not already there,forget it.

Thu, 06/05/2014 - 08:45 | 4826283 Haus-Targaryen
Haus-Targaryen's picture

IDK --

Germany has a fairly large demographics problem, if they are able to import younger people with kids who are educated and/or semi-independently wealthy I think they'd be welcome.  But the Obama phone lady, and those like her will get sent through the wood chipper. 

Thu, 06/05/2014 - 09:03 | 4826361 Non Passaran
Non Passaran's picture

As far as I can tell Obama phone types get sent to Scandinavia.
(To be fair the Obama phone lady later said O'bozo is a disappointment, although perhaps for wrong reasons ...)

Thu, 06/05/2014 - 08:43 | 4826271 Da Yooper
Da Yooper's picture

Where I live the folks alive today REMEMBER their parents & grandparents talking about the last time the bankers screwed them over

They REMEMBER & are ready.

Thu, 06/05/2014 - 17:14 | 4828090 heavy.metal
heavy.metal's picture

Where's that?

Thu, 06/05/2014 - 08:17 | 4826188 Ignatius
Ignatius's picture

A truck goes by...

A dog barks...

A child coughs...

A man wins a $5 raffle...

The sun comes up....

Thu, 06/05/2014 - 08:21 | 4826196 NoDebt
NoDebt's picture

You keep throwing out random phrases like that and you might accidentally hit on the trigger phrase for the Fed sleeper agent who starts the worldwide global financial cascade.  Please be more careful in the future.

Thu, 06/05/2014 - 08:39 | 4826257 quasimodo
quasimodo's picture

$5 raffle? You are generous. The rate we are going it won't even buy him a loaf here in a year or two. The part that miffs me just a little bit is the way metals are fucked with they won't be of much help by then.

Thu, 06/05/2014 - 08:10 | 4826154 random999
random999's picture

Good opportunity to change money into gold or at least actual bills/coins. Pay to lend out fiat? You gotta be kidding..

Thu, 06/05/2014 - 08:11 | 4826161 gatorengineer
gatorengineer's picture

how could you be surprised that gold is down on a no-print announcement?  Seriously.... I understand the love of PM's, I love em too, but this for a change would be the expected behavior.....

STAWKS by the way should turn red today.... as this was a check to the Fed, to hold tapering..... 

Remember this 6/4/2014, may well have been the top.......................

 

Thu, 06/05/2014 - 08:48 | 4826301 Spitzer
Spitzer's picture

It was still an ease.

Thu, 06/05/2014 - 08:02 | 4826127 GetZeeGold
GetZeeGold's picture

 

 

Russia and China are gonna be so bloody rich when this is over.

Thu, 06/05/2014 - 08:02 | 4826128 slaughterer
slaughterer's picture

Whatever it takes...

Thu, 06/05/2014 - 08:07 | 4826140 SDRII
SDRII's picture

Obama trying to scrape together a billion for that russia defense fund. 

Thu, 06/05/2014 - 08:08 | 4826143 Hindenburg...Oh Man
Hindenburg...Oh Man's picture

so they have finally discovered an "Easing" policy that makes the markets go higher and gold lower. That was their real endgame. 

Thu, 06/05/2014 - 08:08 | 4826149 gatorengineer
gatorengineer's picture

Gold under $1200 within the week.... the hope of the ECB doing more is what kept it up.... Time to buy more at $1175.

Thu, 06/05/2014 - 08:09 | 4826150 asking4it2k
asking4it2k's picture

All news is bad news for gold. The FED hates people investing in gold. So they tell their "primary dealers" on Wall Street to sell paper gold to artifically keep the price low. This has been their plan since 2011. It will eventually be exposed. Gold should be at least $2000+ if it was not manipulated by the FED. 

The FED wants no one to save and everyone into stocks, so when we crash were all in this together and crash together..

Thu, 06/05/2014 - 08:14 | 4826174 Da Yooper
Da Yooper's picture

The fed can FOAD

corupt cowards

Thu, 06/05/2014 - 08:14 | 4826175 RealityCheque
RealityCheque's picture

Not me, I'm buying Spain for 2oz when the crash comes!

Thu, 06/05/2014 - 08:12 | 4826166 what's that smell
what's that smell's picture

did anyone hear the latest? the price of gold is rigged.

never bet against the house if you're a muppet.

Thu, 06/05/2014 - 08:39 | 4826254 Latitude25
Latitude25's picture

Are 3 billion Asians muppets?

Thu, 06/05/2014 - 08:13 | 4826170 RealityCheque
RealityCheque's picture

So, if the bank takes your money outright when you hold it on deposit.......then why the fuck would you keep your money in a bank?

Seems fairly fuckin' black and white to me.

Thu, 06/05/2014 - 08:20 | 4826194 Hughing
Hughing's picture

Yep, TPTB want us to buy something real, indestrucable and cheap, like a house, land or GOLD!

Thu, 06/05/2014 - 08:42 | 4826266 agstacks
agstacks's picture

Where is this cheap house you speak of?

Thu, 06/05/2014 - 17:16 | 4828098 heavy.metal
heavy.metal's picture

An indestructible cheap house, mind you. Maybe it's made of gold?

 

Thu, 06/05/2014 - 08:16 | 4826182 Azannoth
Azannoth's picture

Madness! This is Maaaaaaaddddddddddddddnnnnnnnneeeeeeesssssssssssss!

Thu, 06/05/2014 - 08:17 | 4826183 buzzsaw99
buzzsaw99's picture

gold just sits there doing nothing, at least my bond fund nets out 0.01% apr bitchez. #WINNING!

Thu, 06/05/2014 - 08:25 | 4826207 schatzi
schatzi's picture

I'm glad gold is dropping - or stagnating at this price. I still have 30% of my assets in € cash. Time to buy gold. Lots of it. Bargain bin prices allows the investment slow coaches enough time to move into gold.

 

Draghi is fucking up the Eurozone, screwing over future generations that will need to pay back all this debt and screwing over the already squeezed middle classes. Bubble economics at its worst. The most blatant large scale theft ever undertaken.

Thu, 06/05/2014 - 08:25 | 4826208 youngman
youngman's picture

Its pretty amazing how gold andd silver are missing out on everything this last 6 months or so....everything else is setting records...stocks, bonds, IPOs...except gold and silver...the forgotten asset for some reason..you would think the MOMO guys would see this and start jumping in.....

Thu, 06/05/2014 - 08:27 | 4826213 SirTaxedAlot
SirTaxedAlot's picture

see you blokes at $800/oz

Thu, 06/05/2014 - 08:36 | 4826249 GetZeeGold
GetZeeGold's picture

 

 

You have no vision......I would have said $600/oz. I am a follower of the prophet Nadler.

Thu, 06/05/2014 - 08:37 | 4826252 Cortez
Cortez's picture

Bullish in-home safe companies. 

Thu, 06/05/2014 - 08:53 | 4826330 Latitude25
Latitude25's picture

Bullish high speed angle grinders.

Thu, 06/05/2014 - 08:41 | 4826264 Seasmoke
Seasmoke's picture

I would like to pay you to hold this $100,000. Do you think I could pay you a higher rate, if I deposit $500,000 ????

Thu, 06/05/2014 - 08:43 | 4826273 Falconsixone
Falconsixone's picture

What deposits? If you keep feeding that goose USD's your going to get more gold.  

Thu, 06/05/2014 - 08:50 | 4826313 NoIdea
NoIdea's picture

My gold charts seem to be broken. There are these long green candles on them. I thought all the candles were supposed to be red?

Thu, 06/05/2014 - 08:52 | 4826324 The_Ungrateful_Yid
The_Ungrateful_Yid's picture

Gold back over 1250.00

Thu, 06/05/2014 - 08:58 | 4826349 JPMorgan
JPMorgan's picture

Cash position on standby, just waiting for that big fat finger take down on precious metals to occur. 

Thu, 06/05/2014 - 09:06 | 4826380 orangegeek
orangegeek's picture

and gold is back up - KA-BOING!!!!!!!!!!

Thu, 06/05/2014 - 09:55 | 4826608 Spungo
Spungo's picture

Isn't this called defaulting on a loan? We'll pay you back, but we won't pay as much as we borrowed.

Thu, 06/05/2014 - 17:18 | 4828086 heavy.metal
heavy.metal's picture

Same as when you buy debt with negative yield, like happened with German bunds sometimes. Not a default IMO.

I think if you're stupid enough to purchase that, you get exactly what you deserved.

 

Thu, 06/05/2014 - 10:01 | 4826626 ciscokid
ciscokid's picture

Gold spiking now.

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