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BofA Blasts Sell Bonds, Sell Gold, Buy Dollars

Tyler Durden's picture




 

"After several weeks, Gold is setting up for a sell, US Treasuries are set to resume their bear trend, and the USD is set to resume its bull trend. Get ready..." is the ominous warning BofAML's Macneil Curry sets forth in his technical treatise this weekend. Despite the plethora reasons for rates to go lower for longer (and treacherous market conditions expected ahead) and the various fundamental and technical drivers of recent precious metals strength, Curry says it's time.

 

Via BofAML's Macneil Curry,

Over the course of the past several weeks, some of our core views and themes have fallen into short term corrective mode. Specifically, we are referring to our bearish US Treasury view and our bullish US $ view (most notably against €, CHF and many EMFX, as well as gold and silver). In the week ahead, we look for these trends to re-emerge and do so in a manner that should provide some excellent low risk, high reward trade setups. Beginning with US Treasuries, we likely look to sell 10yr notes into the 2.53%/2.49% zone for the Apr-04 highs at 2.82% and beyond. In FX, we will likely look to re-initiate €/$ shorts into the 1.3676/3735 zone for a resumption of its medium, potentially long term bear trend and in $/ZAR we will likely look to re-buy near the 50d (10.5357) for a resumption of its long term bull trend and new 2014 highs (now 11.3915). Finally, gold is fast approaching the 1334/72 topping zone from which we look for significant weakness to and through 2013 lows at 1180.

Chart of the week: US 10yr Treasury yields to resume higher

In our view, the bear trend is about to resume. Intra-day charts say the 2wk consolidation is in its final stages. We will likely look to sell one last push lower, ideally to 2.53%/2.49%, for a resumption of the larger bull trend to 2.82% & beyond. 

Get ready to sell EURUSD...

The choppy range of the past several weeks has been frustrating, but now evidence says the medium, if not long term bear trend is about to resume. We will likely look to go short on one last squeeze to 1.3676/1.3735 for a resumption of the larger downtrend to 1.3104 and below. NOTE: we may also look to buy $/CHF

...and buy USDZAR

The impulsive advance (seen clearly on intra-day charts) following the test and hold of the 50wk avg/3yr t/line (10.3867/10.3778) says that $/ZAR has resumed its l/term uptrend. We will look to re-enter longs into the 50d (10.5337) for new 2014 highs

Setting up for a sell in gold

In last week’s KrystalBull we wrote that “the medium term trend has turned higher” for gold but that “gold bulls should not get too enthusiastic. AT BEST, we think it can reach the 1334/1374 area (measured move and yearlong contracting range highs) before topping and substantial weakness”. The strength of last week’s move caught us off guard and says that the 1334/1374 topping zone could be reached much more quickly than anticipated. We will look to go short into this zone. As can be seen from the chart below, gold is close to resuming its almost 3yr downtrend after a year of consolidation, with targets seen for a test and break of the 2013 lows at 1180.

 

*  *  *

Trade accordingly...

 

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Sun, 06/22/2014 - 14:12 | 4883170 Racer
Racer's picture

Curry says it's time..... to sell me your gold at bargain basement prices

Sun, 06/22/2014 - 14:34 | 4883238 Da Yooper
Da Yooper's picture

I smell a Cramer moment

 

When they say sell ( which they will buy from me )

 

I buy

Sun, 06/22/2014 - 14:55 | 4883300 max2205
max2205's picture

And BoA still can't raise it's div above 0.01 per share..

Go fuck yourselves BOA

Sun, 06/22/2014 - 15:01 | 4883317 DoChenRollingBearing
DoChenRollingBearing's picture

"Technical Trading" never worked for me, but a couple of guys swear by it.

 

+ 1 max2205

Go ahead, bash gold, and I'll buy some more when I feel like it.

BTC too!

Sun, 06/22/2014 - 15:17 | 4883359 Oracle 911
Oracle 911's picture

Tylers, you forgot the Sunday humor tag.

Anyway if BofA says sell, it is time for buy and vice versa.

-

BTW I think Chinese will release a report which will say something like:

"Gold involved in commodity financed deals is not here."

 

EDIT: Afterwards somebody gets the not so much magical bullet in his/her head.

Sun, 06/22/2014 - 15:54 | 4883446 DoChenRollingBearing
DoChenRollingBearing's picture

 

 

Anyone who likes Bitcoin will probably like this article I just finished reading, most excellent!  A lot of BTC have been sitting around for a long time "doing nothing".  Here is the first analysis I have seen, very interesting:

"Rise of the Zombie Bitcoins"

http://letstalkbitcoin.com/blog/post/rise-of-the-zombie-bitcoins

Sun, 06/22/2014 - 16:48 | 4883572 magnumpk
magnumpk's picture

Right on, the paper traders can sell it so I can keep buying physical at depressed prices. Works for me.

Sun, 06/22/2014 - 15:16 | 4883360 TVP
TVP's picture

^

Imagine those words, plus pictures of Moyniham, Blankfein, Dimon, etc. behind a giant middle finger. 

Now there's a postcard I'd purchase.

 

 

 

 

 

Sun, 06/22/2014 - 14:41 | 4883266 macholatte
macholatte's picture

 

Via BofAML's Macneil Curry

 

Just 1 question:  what's that guy's track record over the past 3 years?

Sun, 06/22/2014 - 14:57 | 4883297 SoilMyselfRotten
SoilMyselfRotten's picture

Another opinion to toss on the dung pile of bankster predictions

Sun, 06/22/2014 - 15:35 | 4883365 Lore
Lore's picture

Is this another case of "Do as I say, not as I do?" 

Chutzpah abounds.  Behold Kerry's balls of thermate: 

Kerry says U.S. wants Iraqis to find inclusive leadership (Yahoo, 22-Jun)

The United States is not engaged in picking or choosing or advocating for any one individual, or series of individuals, to assume the leadership of Iraq. That is up to the Iraqi people and we have made that clear since day one. It is up to the people of Iraq to choose their future leadership."

The United States of America was not responsible for what happened in Libya, and nor is it responsible for what is happening in Iraq today."

What is happening in Iraq is not happening because of the United States in terms of the current crisis.

Mon, 06/23/2014 - 00:07 | 4884605 SF beatnik
SF beatnik's picture

To me, Saddam is looking pretty fucking good, right now.

 

Saddam Hussein, now more than ever.

 

Would that Kerry and 0 (that's a zero) had his balls.

Sun, 06/22/2014 - 14:53 | 4883295 Gringo Viejo
Gringo Viejo's picture

Just another of those guys that would sell their mother for a buck. People like him are a dime a dozen.

Sun, 06/22/2014 - 14:57 | 4883309 Stuck on Zero
Stuck on Zero's picture

memo to all BofA billionaire account managers: "Buy Bonds, Buy Gold, Sell Dollars."

 

Sun, 06/22/2014 - 14:16 | 4883180 SilverIsMoney
SilverIsMoney's picture

ALL THE TBTF BANKS HAVE BEEN SO WRONG ABOUT GOLD ALL FUCKING YEAR ITS OBVIOUS THEY ARE SIMPLY SPEWING US PROPAGANDA!

-Civil War in Iraq - Check

-Civil War in Ukraine - Check

-Negative GDP Print in Q1 Post Taper - Check

-Gold Up Nearly 10% Since the Taper was Announced - Check

-Silver Fix Ending in August - Check

-BOE Losing over 700 Tons of Gold - Check

-Austria asking for an Audit of their Reserves - Check

-Belgium FRAUD Bond Buying - Check

-Russia Selling 20% of it's T-Bills for Gold - Check

-China setting up Free Trade Zones for PMs - Check

-GLD inventories have barely moved since 2014 started - Check

-Crude due to Surge on ME Crisis - Check

 

The case for gold and silver are so bullish to be downright ABSURD and yet the TBTF banks keep doing everything they can to shit on it like they have ALL YEAR and ALL YEAR they've been wrong. We are setting up for something massive here and all you have to do is pay attention to the garbage being spewed by these lying fucks to see it...

Sun, 06/22/2014 - 14:23 | 4883204 Bay of Pigs
Bay of Pigs's picture

Exactly. And why does ZH publish this dogshit when we all know its not worthy of being posted here?

Sun, 06/22/2014 - 14:26 | 4883217 SilverIsMoney
SilverIsMoney's picture

I strongly suspect they post it because they want us to recognize the propaganda... I certainly wouldn't have noticed the trend this year had they not been posting this garbage all year.

 

Then again it's hard to know the motives of people when we have NO IDEA who they are... be kind of nice for them to reveal themselves at some point... or at least some of them.

Sun, 06/22/2014 - 14:35 | 4883244 SilverIsMoney
SilverIsMoney's picture

AND PLEASE DO NOT MISUNDERSTAND ME! I strongly suspect the POG and POS could crash before the end of June since these fucks ALWAYS paint the Quarter Months the way they want - what makes June even worse is it's the midpoint - notice we had our double bottom set in June and December last year.

The next 10 business days could be bearish simply because of the manipulation of the midyear charts as usual but the world is burning before us and there's no long term escape other than silver and gold. I strongly suspect we could see new all-time nominal highs by the end of the year.

Sun, 06/22/2014 - 15:40 | 4883428 Lore
Lore's picture

I don't think we are going to see the selloff.  Consider what happened last week.  Someone on the scene is a serious player.  You don't behave like unruly children when someone in the room has a big stick.

Sun, 06/22/2014 - 17:28 | 4883682 SilverIsMoney
SilverIsMoney's picture

What makes you think that person or entity is not the same one manipulating the price downward? We had a record number of shorts get burned last week because of that buyer - so does it not stand to reason that buyer is now the same one going short while all the specs go long again?

 

I do not think there's a mystery buyer. I think it's just the banks flipping it the other way now. They're setting up a smash over the next 10 days imo. Barring of course, if war were declared... I really hope you're right but the banks have played this back and forth BS for over a year now just burning the specs all the way along.

Sun, 06/22/2014 - 15:31 | 4883404 TVP
TVP's picture

To recognize the propaganda, yes, and to get a good laugh, too.

When you are tuned into reality, it kind of makes you giggle about the fact that these assholes can actually assert such things and somehow maintain any sense of credibility whatsoever.  

Sun, 06/22/2014 - 14:38 | 4883256 PenguinMan
PenguinMan's picture

Zero Hedge Publishes this propaganda as a record of criminal activity complicit in the banks, government and private sectors.

Criminal activity which will is being very carefully documented by independant channels.

When the crash comes, first order of business is to round these people up, have a nice trial and then decide punishment.

Once everyone sees these people for what they are, confidence can return to economic policy and prosperity can return for ALL PEOPLE of the Earth.

 

Sun, 06/22/2014 - 14:59 | 4883303 The Most Intere...
The Most Interesting Frog in the World's picture

.

Sun, 06/22/2014 - 14:57 | 4883304 The Most Intere...
The Most Interesting Frog in the World's picture

How about we send them to Iraq for "efficient" ISIS "trial".

Sun, 06/22/2014 - 15:28 | 4883396 TVP
TVP's picture

As much as I agree, I'm not sure it's so simple.

Occupy Wall Street showed me how easily some sheeple can be programmed by media.  Gun control false flags have done the same.  And every election cycle does the same, also.  

Alternative media needs to be stronger before what you described can be achieved. 

And the elites understand this better than you or I, hence the rapid acceleration of mass chaos around the globe as we sit here being keyboard rebels.  

Sun, 06/22/2014 - 18:13 | 4883792 Dutti
Dutti's picture

There will be no crash. There will be continued, well coordinated money printing everywhere.

Sun, 06/22/2014 - 14:57 | 4883306 KrugerrandFan
KrugerrandFan's picture

Cuz it gives us all a giggle :-)

Sun, 06/22/2014 - 15:01 | 4883319 Dr. Engali
Dr. Engali's picture

Click bait. Why else?

Sun, 06/22/2014 - 15:11 | 4883350 holmes
holmes's picture

Exactly. And why does ZH publish this dogshit when we all know its not worthy of being posted here?

What's the matter? Is your head going to explode if your brain is exposed to a point of view different from yours?


Sun, 06/22/2014 - 17:20 | 4883658 Bay of Pigs
Bay of Pigs's picture

My head exploded a long time ago. BAC needs to be plowed under.

Sun, 06/22/2014 - 15:30 | 4883403 Greenskeeper_Carl
Greenskeeper_Carl's picture

In the new normal, non of those things matter, fundamentals don't matter. All of those things you listed should have led to a massive dollar sell off and a stock market decline, and a big surge in gold and silver( what he have seen lately hardly counts as a 'big surge' IMO. What we are witnessing here is central planning. The fed and big banks control everything, and wish to see high stock markets, stable bond markets, a relatively weak dollar, and suppressed PM prices. As long as the world accepts the dollar, nothing changes. It works until it doesn't. Not saying it won't all disintegrate eventually, since all unsustainable things must stop eventually, I just don't think this is it. I bet gold is slammed down at the open, and silver follows. Along with a healthy .75-.8 % up day in the S&p.

Sun, 06/22/2014 - 15:41 | 4883431 AllWorkedUp
AllWorkedUp's picture

Good on ya silver. Clearly B of A is short Gold, Traesuries, and long US toilet paper. I wonder if it will be JPM or Goldman that will trash their dervative positions on all three?

Sun, 06/22/2014 - 14:15 | 4883181 PaperBear
PaperBear's picture

"gold is close to resuming its almost 3yr downtrend after a year of consolidation"

Oh boy, are these guys buying the gold that they are telling people to sell ?

Sun, 06/22/2014 - 14:45 | 4883278 SuperRay
SuperRay's picture

Paper gold is capable of anything these manipulators want to do with it. I guarantee you that this moron doesn't own a single piece of physical. He's totally into the cool aid. I hope he's right. Back at $1250, back up the truck!

Sun, 06/22/2014 - 14:16 | 4883184 deflator
deflator's picture

 Technical analysis of rigged markets?

Sun, 06/22/2014 - 14:26 | 4883212 _ConanTheLibert...
_ConanTheLibertarian_'s picture

Rigged analysis of technical markets?

Sun, 06/22/2014 - 14:40 | 4883262 PenguinMan
PenguinMan's picture

Rigged analysis of rigged technical markets?

Sun, 06/22/2014 - 15:51 | 4883447 barre-de-rire
barre-de-rire's picture

rigged what !?!

Sun, 06/22/2014 - 14:26 | 4883216 Fuh Querada
Fuh Querada's picture

The only explanation I can think of why these TA pricks stuff their pieces full of jargon, pseudo-statistics and invalid extrapolations, claiming that they can predict future prices, is that their bosses and the idiots giving them money are too fucking dumb to see through the high-density bullshit which has no greater probability of success than flipping a coin.

Sun, 06/22/2014 - 14:16 | 4883185 deflator
deflator's picture

dub

Sun, 06/22/2014 - 14:17 | 4883186 buzzsaw99
buzzsaw99's picture

sell all your 10Y USTs to me bitchez

Sun, 06/22/2014 - 15:04 | 4883333 DoChenRollingBearing
DoChenRollingBearing's picture

H/T for a consistently good call I would never have predicted.

Sun, 06/22/2014 - 15:14 | 4883355 buzzsaw99
buzzsaw99's picture

Thank you.

Once you have eliminated the impossible, whatever remains, however improbable, must be the truth. [/Sherlock Holmes]

Sun, 06/22/2014 - 14:17 | 4883188 alexcojones
alexcojones's picture

Does GOLD Have a "Sell Before Date?"

Suprised the MSM presstitutes haven't mentioned one.

Sun, 06/22/2014 - 14:30 | 4883228 Fuh Querada
Fuh Querada's picture

No, but a shit sandwich does.

Sun, 06/22/2014 - 14:35 | 4883242 I am Jobe
I am Jobe's picture

Inline with Amerikan Sheeple Values and Taste 

Sun, 06/22/2014 - 14:22 | 4883200 gimli
gimli's picture

...... buy STAWKS you foolszzzzzzzzzz

Sun, 06/22/2014 - 14:25 | 4883207 joego1
joego1's picture

This may be true if you buy PM's looking at them like an investment instead of LIFE INSURANCE.

Sun, 06/22/2014 - 14:28 | 4883222 AccreditedEYE
AccreditedEYE's picture

Hahahaha. This is the best news I've read all weekend. You gotta love these clowns...

Sun, 06/22/2014 - 14:30 | 4883229 It's fine
It's fine's picture

Expiration buy date on Gold 2014 come 15 you won't be able to afford it same with gas and food.

Sun, 06/22/2014 - 14:30 | 4883231 unwashedmass
unwashedmass's picture

Tuesday is option expiry. 

Some people are now in serious trouble due to gold's climb. 

enough said. 

Sun, 06/22/2014 - 14:37 | 4883252 Winston Churchill
Winston Churchill's picture

BoA must be very naked short on their gold position.

Is it time to put them back on deathwatch again ?

Sun, 06/22/2014 - 18:16 | 4883800 quasimodo
quasimodo's picture

Rest assured they will bitch slap this whore back down again. That said, I think the lows will be higher each time becuase she is finally wising up to the fact and sees it coming more quickly each time. 

Mon, 06/23/2014 - 05:55 | 4884850 cooky puss
cooky puss's picture

Oww c'mon, I'm not ready yet for the big blow ^^

Sun, 06/22/2014 - 14:31 | 4883233 SmilinJoeFizzion
SmilinJoeFizzion's picture

Yes I will sell my gold and buy shares of PCLN at $1200

It's a screaming buy!

Sarc

Sun, 06/22/2014 - 14:36 | 4883251 JD59
JD59's picture

The only thing flaming out and going to its true value is the fiat U.S. Dollar.

Caution: The PTB are selling Tungsten Gold as real gold. Buyer beware of your physical buys.

Buy physical silver & physical gold from professional dealers. Gainsvillecoins is my preferred dealer, and Bulliondirect

Sun, 06/22/2014 - 14:39 | 4883260 JD59
JD59's picture

usdebtclock . org

Sun, 06/22/2014 - 14:52 | 4883292 RevRex
RevRex's picture

What do you think of Merit? Their prices are consistently cheaper.

Sun, 06/22/2014 - 15:03 | 4883327 JD59
JD59's picture

I have never used Merit, Gainsville coins has been outstanding, and I trust them so I don't worry about paying a little more.

If you do a google search on Merit Gold, you will see lots of problems.

Sun, 06/22/2014 - 15:05 | 4883336 DoChenRollingBearing
DoChenRollingBearing's picture

I use LCS (Local Coin Shops), there are two in my area.  It never hurts to have a friend in the business or if you need to sell (but please do not sell your gold).

 

Sun, 06/22/2014 - 16:28 | 4883540 ozzzo
ozzzo's picture

Tulving FTW!

Sun, 06/22/2014 - 15:05 | 4883331 JD59
JD59's picture

I have never used Merit, Gainsville coins has been outstanding, and I trust them so I don't worry about paying a little more.

If you do a google search on Merit Gold, you will see lots of problems.

Sun, 06/22/2014 - 15:03 | 4883332 JD59
JD59's picture

I have never used Merit, Gainsville coins has been outstanding, and I trust them so I don't worry about paying a little more.

If you do a google search on Merit Gold, you will see lots of problems.

Sun, 06/22/2014 - 16:11 | 4883484 deflator
deflator's picture

 I like using APMEX no problems buying or selling. I have bought a lot of gold and silver on Ebay over the years believe it or not only had one delivery problem over hundreds of purchases. Bought three four coin American Eagle gold proof sets and the gold price spiked right after and the seller never delivered. PayPal made it right but my money was tied up for three months. The whole time gold was steadily going higher. Most of my gold buys were between 600-700 range. Turned out the seller was a police officer in Philadelphia, PA.

Sun, 06/22/2014 - 16:11 | 4883495 messymerry
messymerry's picture

HOW DARE YOU!  THE POLICE ARE NOT CORRUPT!!!  <sarc.>

Sun, 06/22/2014 - 14:38 | 4883257 orangegeek
orangegeek's picture

A quick look at the USD and it looks ready to head down.

 

http://bullandbearmash.com/chart/dollar-daily-pulls-return-upside-week/

 

The only problem is that if the USD falls, the Euro should move higher.  Euro chart is ugly.

 

http://bullandbearmash.com/chart/euro-daily-finds-near-term-high-and-can...

 

Europe wants lower Euro, US likes low USD - let the battle continue.

Sun, 06/22/2014 - 14:41 | 4883265 yellencrash
yellencrash's picture

This looks like a page right out of Elliott Wave Financial Forcast.The gold chart is identical to theirs.

Sun, 06/22/2014 - 14:49 | 4883285 RevRex
RevRex's picture

Charting = Meaningless in a corrupt market

Sun, 06/22/2014 - 14:54 | 4883294 JD59
JD59's picture

Everyone in the World knows that the physical gold claims are OVER subscribed by 100 to 1, hence the reason Germany will never recieve their demanded good for delivery and shipped back to Germany stored gold in the USA. NEVER!

Maybe they will recieve gold painted bars, or gold plated tungsten bars, but not pure gold good for delivery real Gold bars. I suspect they will reciever the middle finger salute.

Sun, 06/22/2014 - 15:02 | 4883328 ozzzo
ozzzo's picture

Nonsense. The vast majority of people know nothing of the sort.

Sun, 06/22/2014 - 15:13 | 4883354 JD59
JD59's picture

They will painfully learn over the coming years. Liberals are slow learners. They learn the hard, painful, extremely slow way.

 

Of course being liberals, they most likely will never learn. aka 2008, & 2012

Sun, 06/22/2014 - 15:25 | 4883384 Cacete de Ouro
Cacete de Ouro's picture

Merrill Lynch International is an LBMA market-maker in gold. Merrill Lynch is owned by Bank of America. Therefore everything that Macneil Curry says about gold is one Big lie.

Sun, 06/22/2014 - 21:45 | 4884293 Dickweed Wang
Dickweed Wang's picture

 

 

Real Eyes

Realize

Real Lies

Sun, 06/22/2014 - 15:27 | 4883389 tuttisaluti
tuttisaluti's picture

Can we sue them if they are wrong?

Sun, 06/22/2014 - 15:27 | 4883391 Quinvarius
Quinvarius's picture

Even if you don't like gold, the chart says buy and so does all the negative analyst talk.  There is no point formulating an argument that will keep you riding losses if you are a trader.  Above the 200 and 50 day.  Downtrend broken.  Up for the year.  Fundamentals are crazy bullish after all gold negative predictions failed to come true.  I don't trade it.  But gold is not an interesting thing to hedge with short positions, to say the least.

Sun, 06/22/2014 - 15:28 | 4883398 ZeroPoint
ZeroPoint's picture

So I should sell my physical gold for Facebook & Groupon shares?

Sun, 06/22/2014 - 15:38 | 4883422 I Write Code
I Write Code's picture

They already bought too much gold cuervo.

Sun, 06/22/2014 - 15:52 | 4883450 eddiebe
eddiebe's picture

Sure, always trust a banker!

Sun, 06/22/2014 - 15:55 | 4883461 GrinandBearit
GrinandBearit's picture

LOL!

Fuck you BofA

Sun, 06/22/2014 - 16:26 | 4883534 goldhedge
goldhedge's picture

Never trust anyone with a surname as their first name.

Sun, 06/22/2014 - 16:34 | 4883549 Bill of Rights
Bill of Rights's picture

Funny I see long gold, silver is setting up for a nice run to $22 and the dollar looks to run to 76 we will see the next two weeks . Always do the exact opposite of what these Shills recommend .

Sun, 06/22/2014 - 17:03 | 4883597 1929agin
1929agin's picture

Deflation, War ongoing and 911 event risks rising, corporate profits down, year over year, only buybacks of shares keeping eps up..

Time to take risks seriously imo..

QE dwindling, Oil rising, July '08 scenario appears likely to move oil higher, equities begin to tremble...

Sun, 06/22/2014 - 17:09 | 4883609 huggy_in_london
huggy_in_london's picture

If its Macneil Curry, then  Buy bond, buy gold, sell USD

Sun, 06/22/2014 - 17:38 | 4883673 DavyRoySixPack
DavyRoySixPack's picture

Ok,

After a few bourbins and beer last night this is what I am coming up with ....

 

the ultimate objective of the west ... is Western hegemony ....

... which .. will use everything at its disposal ...including ...

... a temporary embrace of Bitcoin .... to support petro-dollar ......

.... if bitcoin is supported in the West ....

... expanding Bitcoin price .... at a significant amount may weaken gold paper price

.... bitcoin may be "used" as a spear head against a Euro/Asian drift away from the petro centric global nexus ...

.... I should have been hired by "Brookings:

... where was Satoschi/Bitcoin .... born .... in the West .....

... the West could bifurcate back to .... "innovator" .... as opposed to "consolidator" ...

... perhaps the West can again ... "shape shift"

... to maintain dominance (this would be a bullish bitcoin call)

... a "factoid"

...

... on the June 27th... the FBI will auction off 30,000 Bitcoin ..... of its 144,000 .... (by the way ... 30,000 Bitcoin are created every 8 days ..... (144,000 from silk road confiscation) ....

... the US and Great Britian seem to be embracing crypto-currency right now in its currency proxy war with China/Russia .....

...Petro-dollar forces may accept Bitcoin as a step-child to force a gold war Russia/China.....

.... Switzerland just ok'd bitcoin kiosks .... western hegemony may use the "infant" bitcoin crypto .... as a bridge to a wider maneuver that embraces crypto to bring in western dominance .... could buy it time ..... imagine the fed embracing crypto to depress gold price ..... to aid petro-dollar ...

...third eye is crypto ... store house ...

... I bought back into bitcoin after it went up after the Mt Gox fiasco ....

.... if bitcoin goes down after the auction ... I will buy a lot more .... if bitcoin goes up I will buy less coin ... but the same amount of dollars ..... I hope it goes down to 300 bucks so I can have a total of 20 coins ......

2016 ...to 2017 ..... if I can hold on to my gold and bitcoin ..... and the gov or thief's don't get it... I think I may buy some highly depressed real estate in the mountains?

Bitcoin is the West/Gold is the East

Innovators seem to come out of the West ...

Copycatters seem to come out of the East ....

Bitcoin .... to war with paper gold price ..... A western hegemony cannon ....

 

 

 

... where the heck is Reggie ....

... put me in charge ....

... I will fix everything ...

 

Sun, 06/22/2014 - 17:50 | 4883738 Richard Head
Richard Head's picture

This Macneil Curry fuckwit can't even draw a correct trendline. His charting is like he has no training whatsoever. His work product is complete bullshit, whether you believe in technicals or not.

Sun, 06/22/2014 - 18:02 | 4883764 KingFiat
KingFiat's picture

Indeed.

But anyway I would like to thank BoA for this "fine" analysis. The kind of irrational fear this induces is probably the reason why I was able to pick up some more gold today at .26% below spot.

Sun, 06/22/2014 - 18:12 | 4883778 1stepcloser
1stepcloser's picture

Putin says he'll sell anyone his dollars...please bid it up LOL

Sun, 06/22/2014 - 18:25 | 4883827 Chuck Knoblauch
Chuck Knoblauch's picture

USD$ = POS

Insolvent USA, USA, USA

Sun, 06/22/2014 - 18:44 | 4883876 luna_man
luna_man's picture

 

 

Just be grateful, you know where these CRIMINALS, are coming from...Too many, feel now they have an edge!

 

go figure

Sun, 06/22/2014 - 19:22 | 4884008 sleigher
sleigher's picture

Question:

I have some extra cash.  Should I buy gold or silver, and why gold or why silver?  Besides the obvious reasons... Why would I buy one instead of the other?  Split between both?  Get whatever the hell I can why I can?

I do have silver already but not a large amount.  I keep thinking silver is gonna be a better PM to have, but I am no expert when it comes to this stuff.  If this is a noob thing to be asking then flame away I guess.  Just lookin for some insight.

Sun, 06/22/2014 - 20:58 | 4884204 sosoome
sosoome's picture

Silver has some added components, not the least of which is it's industrial applications, which could return more long term. It being cheaper, it is more likely to see panic buying if the masses lose faith in the banking/monetary system.

Amassing on an average in basis is still the best policy imo. Regular interval purchases until you get the amount desired. 50/50 gold/silver on a dollar basis is how I allocate.

Viewing it as a single premium insurance policy is the best way to decide how much of your wealth to allocate. Once the "premium" is paid, the policy is valid until sold, and you can pass the policy on to your heirs if you never have to cash it in. 

Sun, 06/22/2014 - 21:18 | 4884240 KingFiat
KingFiat's picture

Good advice on the regular interval purchases. And 50/50 gold/silver is just how I allocate my PM investments.

But I do not agree that PM investments are a single premium insurance policy. You have to compare the income that could be expected from a PM investment to the higher income to be expected by other more risky investments. And if you look at it this way, it is a premium you pay all the time. Still I think PMs are good insurance, if you have wealth to insure.

Sun, 06/22/2014 - 20:59 | 4884207 KingFiat
KingFiat's picture

Well, maybe a bit noob, but I`ll bite and give my two cents of advice:

- Do not buy PMs or any other investment, if you still have debt. The cost of your debt will probably be higher than the gain from your investment. Paying off debt is risk-free; investments are not.

- Diversifying is always good. It reduces your risk a lot more than it reduces your gains. If you ask me if you should buy A or B, I would say "both, and maybe also C and D".

- Be extremely sceptical about people who say they want to help you manage your investments and wealth. What they really want is to earn money from you. And you almost always end up earning less after paying them.

- Always keep a good buffer of cash. Good for unforseen expenses.

- When you see a really good deal for something you generally use (not just what is advertised as a good deal, but a price a lot lower than the usual best price), buy big. Do not be afraid to dig into your cash buffer for this. If you have the space to store it, do not be afraid by buy what you need for several years if you find it at a really good price. Just be careful not to buy more than you can use before it gets too old. This is the best investment for people without a lot of wealth.

- Do not budget. Budgeting is like diets, and diets rarely make people loose weight in the long run. But keep an eye on your long term cash flow. If you spend more than 90% of your income in the long run, you have a problem. Investigate your problem, and find out how to get rid of it. The most usual cause of such a problem is debt.

- Remember that PM investments are financial insurance. In the long run they give you less gains than most other investments. But PMs never go to zero, so you never loose all your wealth here. The lower gains from PM investments compared to other investments can be seen as an insurance premium on your wealth. Do not pay this premium unless you have some wealth to insure. I did not begin to invest in PMs until I was debt-free and good for more than $300k.

- Never think that a price difference of 0.1% does not matter because you think you will earn 5% on your investment. It always matters, and you should always try to get the best price and the lowest cost possible. Do not be afraid to wait. The train may be leaving today, but a new train is leaving again tomorrow.

- And finally, to go full circle, avoid debt. Debt is like a weight around your neck when you are swimming. No big problem, if the weight is not too heavy; you just have to work a bit more to keep your head over the water. Interest rates are like how heavy the weight around your neck is, and interest rates go up and down. If interest rates go up too much, you might drown.

If you found this advice useful, feel free to pay your two cents to bitcoin address 1DVtdpMgSNjWq2U2CJRYr58nakr8X9f1d

 

Mon, 06/23/2014 - 10:31 | 4885448 sleigher
sleigher's picture

I did and will.  I like what you said about debt and I have been doing that for a while.  Down my last $1k in debt to be paid off.  That is happening this week.  I also will never go into debt again.  Not for a car, not for anything.  

I appreciate the answers though, I figured I would get barked at by the dogs.

Mon, 06/23/2014 - 19:55 | 4887538 KingFiat
KingFiat's picture

Wrouf, wuf. Now you got barked at :)

Seriously, I think you are on the right path. Getting free from debt is IMHO the first step. Getting a cash buffer is the second step. I try to maintain a $5-10k buffer. Sometimes I am a bit over, and sometimes I am a bit under. And when the cash buffer tends to get to large it is time to place some of the extra cash into investments - something that can give you extra income without you having to work for it. And when you have a lot of your capital in the usual investments, divert some of it into secure investments like precious metals.

I have to admit that I am not always completely debt-free. I have a line of credit at my bank that I rarely use. It is nice to have, and it costs me nothing if I do not use it. Last time I used it is about 10 months ago, and I only used it for two days. I digged into it partly because I was low on cash, but mostly because I wanted to be a good customer at my bank. If I did not do something something this this, I guess my bank would hate me. They failed at all the usual ways banks make money from their customers. Banks are corporations who want to make money from their customers, and I am a conscious banking consumer.

Sun, 06/22/2014 - 20:00 | 4884073 Ludwig Van
Ludwig Van's picture

.

Every month about a week ahead of options expiration, I check the max pain strike. Last Monday (6/16) the SLV max pain strike price was 20. Yes, TWENTY -- when the spot price was was rising slowly from upper 18. Keep in mind too, that SLV price is about 4% under spot. In other words, max pain was *significantly higher* than spot. To inflict max pain, calculating the required spot to bring the SLV strike to 20, I reckoned spot silver had to close between 20.86 and 20.90. I kept that number in mind as I watched the action.

The dramatic rise came Thursday early. (Retail can't start trading 'til 9:30.) All the (previously ITM) $19 SLV puts were wiped out -- too close to expiry to salvage any part of the position (costing more to exit than the position value).

Spot silver closed the week at $20.875.

Metalheads are so used to seeing manipulation to the down side that manipulation to the UP SIDE never comes to mind. But manipulation it was. Indeed. By superlative chart-painters. Does anyone really believe the little poke above the 3-years line of price decline signals a new bull market? Maybe I'm jaded, but I don't trust it.

.

Sun, 06/22/2014 - 20:30 | 4884133 RaceToTheBottom
RaceToTheBottom's picture

Someone woke up with a horse head placed in their bed.....

Sun, 06/22/2014 - 22:20 | 4884369 Cdn1
Cdn1's picture

Why does BAC give this guy a salary and let him use their name?  He is mostly using Elliott Wave, famous for it's wrong way Peach Fuzz navigation.

Mon, 06/23/2014 - 01:47 | 4884730 damicol
damicol's picture

And someone somewhere listens to this cunt.

Could they be same gullible faggots that voted for the kenyan monkey, or the ones sucking his cock now

Mon, 06/23/2014 - 06:53 | 4884889 Wahooo
Wahooo's picture

The score is what, Market 2000 BofA 0?

Mon, 06/23/2014 - 07:47 | 4884945 Ban KKiller
Ban KKiller's picture

BofA getting ready to meet again with DOJ to pay bagman? Yep, Holder too frightentened to jail banksters. Stooge.

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