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Gold Drops Below $1200 On Heavy Volume, Silver Freefalls To Feb 2010 Lows
It appears the machines forgot the shift in DST across the pond and started their European close flush a little early. Someone/something decided it was an opportune time to dump thousands of contracts of gold and silver futures this morning - clearly ignoring Alan Greenspan's advice. Gold ETF holdings are now back at levels first seen in April 2009. Gold's break below $1,200 likely brought some momentum chasers but Silver is in freefall, down over 5% and back to Feb 2010 lows. WTI Crude also broke below the crucial $81 level...
Gold
And Silver...
and from FOMC...
Gold ETF holdings are back at levels first seen in April 2009....
and one more thing....
Charts: Bloomberg
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It's OK. We're all used to it by now.
Hit me in the face with a wrench. I like it.
If you can dodge a wrech, you can dodge a ball.
Never take a ball to a wrench fight.
At this level all-in costs are not going to sustain the gold mining industry:
http://seekingalpha.com/article/2492875-complete-second-quarter-gold-all-in-costs-show-that-peak-gold-may-be-a-reality
Guess that means no more gold mining... yeah right! I'll buy now
What are the industry's costs with $60 oil?
the oil industry will be in the same boat as the mining guys with cost of production averaging in the 70-80's via north america
greenspan told you to buy gold yesterday! he was clued in to what was coming.
Maybe. But the rational for stackers NOT to buy now is absent. Consider this.
Assume 100oz's each purchase for round numbers:
If you bought silver at $40, then again today at $17, you'd have a cost average of $28.50 ($57/200oz's)
If you bought at $40 and think you can wait until $10, you will have a cost average of $25.
Anyone that's been buying in the past KNOWS that now is the time to buy because the math makes sense and lower prices will not make a notable difference in the big picture going forward. PM's have been hit hard. Buy.
Im waiting to buy at 1215 a bar on the OPMs average myself down a bit
http://www.bgasc.com/product/1-oz-gold-bars-sealed-new-with-assay-card-by-opm-ohio-precious-metals-9999-fine-24kt-gold-bullion-gbar_1_oz_opm/1-oz-gold-bars
now i need a drop in the ammo price
Definitely buying more here at 16.50. Would love to get to 15 sometime soon, but I won't get too greedy. 16.50 will do very well for now while supply is still available and premiums haven't spiked yet.
I'd also like to send a big shout-out to all those criminal scumbags who keep monkey hammering the paper PM's for us. Thanks guys and gals!!! You're tremendous crimial efforts are doing us all a huge favor!
Keep it up...we love cheap phyzz.
Game over soon though, bitchez, so keep on stackin' that phyzz while we still can!
Alan told you all to buy yesterday...I mean sell.
well...he was right, but he said buy gold. So really he was half-right. Because he was talking to those with deep pockets, not us small-timers.
For us, we need to be stacking phyzz silver big-time at this 73:1 ratio or trading in some gold for silver playing the ratio game.
Ammo has been dropping recently, at least 223 / 5.56. You can find new Wolf brass at $ 0.28 round 1000 bulk shipped to your door. Federal is a bit higher ($ 0.33 on a good day), but that's a far cry from the start of the year, let alone two years ago. Could go lower, hopefully.
yep...deals are out there to be found for sure. I like FreedomMunitions.com a lot. Keep an eye out for their free shipping deals.
I'm pretty well stocked in all calibers from handgun to rifle though by now. 22LR is the tough one to find at a decent price anymore. I have plenty, but when I see a rare deal I grab it before it's gone...and usually I'm not quick enough because it will sell out in 2 seconds when a deal comes up. They're really killing us on 22LR prices compared to all other calibers because they know we all want so much of it.
Damn I used all my available fiat cash to buy silver when the silver fix was coming to end, thinking that the price would go up afterthat... ugggggggggggggghhh fucking bankers!
Don't worry be happy !
PAPER ROTS ........COIN DOES NOT !!!!!!
Why all the downvotes for what I said :( ?
If you were the stock market, you'd be going up with those down votes
What an upside down world we live in!!
5.56 is a lame caliber. It usually takes a few rounds to really stop somebody. 7.62 is a different story altogether. You got hit by one of those babies (pretty much anywhere), you're done moving, from shock alone...
I own a mini -30 and mini-14 so I like both BUT, energy x velocity man. That 5.56 you describe as lame is leaving the barrel at almost 4000 fps , that is a LOT of velocity. Lame or not ???? It knocks the shit out of a 200 pound deer.
Head shot is DEVASTATING !!! 2 legged will go down at least as fast as a four legged.
ONE SHOT = ONE KILL
I'm sure you meant 3,000fps. But its much less if using a proper 64+gr hunting bullet...
5.7 x 28 does a tumbling run on entry. Expensive, but with its high velocity coupled with 20 round pistols and 50 round bullpups spraying it, it's probably the best round for multiple applications. And if you're lucky, you can get a hold of armor piercing rounds.
Ummm...just wow. You might consider taking up another hobby.
40% Nitric Acid costs about $30 per gallon. Sulfuric Acid costs about $20. Glycerin is damned cheap. No paper work necessary.
Is Backyard Chemistry a better hobby? (Whom needs the finished product?)
Really...Whom needs a gun? ( I do not own any guns...to my name.)
Its all about ammo selection. Stick with 55grs and the skinnies'll go down. Plus, an 8 mag 556 belly rig is helluva a lot lighter than the 308 equivalent.
I actually found .22 LR this week and was able to pick a few thousand rounds. No 1 box limit BS.
Stack on.
Same thing. If someone's selling someone else is buying.
Where/What you buying at $16.50?
That is right at spot as I type.
My coin dealer rounds up to the nearest dollar (to make his math easier). So today, he would be selling for $17. @16.50, that's only 3% over spot...
Unfortunately, I loaded up, last Monday. I said, "Hey, its almost November, give me two months worth" (dollar cost averaging). Still, a 17 handle is better than 37, which is where I started buying in 2011. I show my cost average at $29.36. But I'm stacking twice as many Oz per month, now, which is what really counts.
you have a coin dealer that sells only rounding up to the nearest dollar? and what is he selling for that low of a premium? I can get buffalos for 19 at mine, at least before it dropped today, but ive never seen premiums at a store that low
maybe it's that Tibetan silver
Just wait, they will be begging you to buy their silver at $6.50/oz soon.
The metal bubble still hasn't burst, metals are going significantly lower from here, and by that I mean at least another 50% down from these prices.
Govt shoots foot, reloads shoots other foot, reloads.... wTF lol yeah right.
So Amulsar project in Armenia is on hold then?
So how far below production costs are we on silver?
some of the big miners like First Majestic are somewhere now around the 19/oz COP range. But only a few have been able to manage that and it came at a huge cost to them by closures and layoffs, etc.
Industry-wide it's hard to get perfect numbers, but it seems to still be in the range between 21 to 25 bucks an ounce. It's really hurting the entire industry though.
Supplies aren't going to last at this rate for much longer though. Paper PM's leveraged at 100:1 and hardly any real phyzz in the vaults. Above ground supply getting scooped up like crazy right now.
The miners may also start cutting back supply. The CEO of First Majestic just came out with a statement to the industry that they will be holding back 35% of their Q3 production from the market for as long as it takes to break this paper manipulation. He asked for other mining companies to join F.M. and said they need to form a cartel like OPEC in order to break the paper market criminals asses.
I hope they do it. That's why these phyzz prices are a gift from the criminals. But it won't last much longer, so get it now.
Between $6 and $9 US...depending on what/who you listen to...
How does that math work with my three US pounds of $6.00 silver?
I should have known this would happen. Always does when I buy stuff. If I bought shares of APL it would tank. Anyone want to hire a sure-shorter prodigitator?
Maybe I should buy 1000 shares; and shorts on 10,000?
Let's talk in 10 years. In the meantime, I'm liking the "sale" on silver as an accumulator who has zero faith in the authorities.
you would have done better with savings bonds
Getting run over by a paper truck hurts, but not too much, and less each time. Excuse me while I open an account in a jurisdiction that actually has some METAL.
The average has nothing to do with the new purchase. You already have what you have. You will either make the new purchase for $1700.00 or $1000.00, assuming that you believe the price does go to $10/oz. Maybe it won't.
Take a wild guess on what oil companies have, that miners don't. Also, while you are fishing google for tha answer figure out what the cost to drain a mine is, vs. restarting a plug.
Anyone who did not see this in Gold/Silver and inflation assets, after what was posted yesterday; well, just give your money to someone else, sell your bodyparts and I'm certain the market will find something more productive to do with your wealth & body ex-brain. Welcome to the bear market.
Re: "Welcome to the bear market."
Cute. I bet you thought about that for hours.
yeah he lost me at "Market"
Nope. I looked at the spread compression + leading indicators a few weeks ago, then wrote about the taper pre-election 1 year ago. Now I get to say it with confidence. I doubt you even know what 80% of that sentence means for actionable trading.Look at my post history and go cry at your Oct statements, bitchez.
cool bro. why dont you go book a spot on CNBC and tell everyone all about that. there are no markets. period.
Is there a bid/ask? Its a market.
I see 4 IPO's doing fine, with healthy ORGANIC buying behind them. What do you see on that E-trade terminal ?
If you think the price is wrong, why don't you be a big boy and post where you think Gold, WTI & SPX should be 1 year from today? Step up, or step off. All I'm hearing is excuses. If you can't afford to play the tape, and/or make profits trading it, at least due us all ZH old-balls the honor of hearing what your target prices are, so we can all make fun of you in 1 year time.
If you lack the market intelligence and confidence to post your prices then please due (sic) me the honor and explain why you think a delfationary enviroment is BULLISH for gold and commodities, despite GS, BAML and a healthy dose of bear's TD reposted from the internet who all calling for deflation this week.
with HFT and naked shorts, it's still a market?
there is no market. it must be difficult convincing yourself otherwise every day. its cool bro. im sure you make enuff $ to feed your cats peddling your seekingalpha bullshit.
So instead of hours, VileRat actually dwelled on it for YEARS.
Wonder if he's still pleasuring himself the same way a year from now.
yeah i would like to see some forecasts that discuss a failing mining industry with massive M&A and BK's.
In my opinion the Western central banks ordered the Bullion Banks and Custodians of the largest precious metals ETFs to slam gold and silver prices today. It seems Greenspan believes gold is a good investment at this time according to remarks he made yesterday in the WSJ. These are the facts that are scaring them into full manipulation mode today.
"Former Fed Chief Greenspan Worried About Future of Monetary Policy"
http://online.wsj.com/articles/former-fed-chief-greenspan-worried-about-...
"...Mr. Greenspan said gold is a good place to put money these days given its value as a currency outside of the policies conducted by governments...." He finally called it a currency again!!!
Step by step, the gold price rigging infrastructure is being undermined. As new physical gold exchanges open in China and elsewhere, the reality of physical demand and the ground swell of demand for repatriation of sovereign gold, as seen in Switzerland and Germany, the mechanisms of rehypothication used to manipulate the prices lower will lose ground at an increasing rate.
The massive global debt incumberance is now reaching $100 Trillion and while for the time being that is causing a contraction in economic growth and in some places flat out contraction in the economies, which gives the short term impression of deflation, the longer term affect of insolvency is currency depreciation.
For the long term, in my opinion, the least risky place to preserve wealth is very likely gold and silver.
"China Moves To Dominate Gold Market With Physical Exchange"http://www.fxstreet.com/analysis/gold-investments-market-update/2014/09/...
"...The presence of international refineries and possibly international mints as possible direct participants within SGEI trading should improve liquidity and price discovery on the new international exchange and help it become a serious competitor to the existing duopoly of gold price discovery carried on in the London OTC market and the New York gold futures market.
One encouraging factor about the SGE and the SGE international platform is that there is a lot of physical gold flowing through the Exchange. Therefore, price discovery is not just based on an inverted pyramid of mostly unallocated gold as in London or mostly cash-traded futures paper gold as in New York...."
"SGX Launches New Singapore Kilobar Gold Contract To Facilitate Physical Gold Trading"
http://forexmagnates.com/sgx-launches-new-singapore-kilobar-gold-contrac...
"...According to the World Gold Council global consumer demand for the precious metal has increased almost 50% over the past ten years, while South East Asian appetite has risen a staggering 250%. ..."
The TBTF and others don't want the answer to the question where else you gonna put your money if not stocks and bonds to be "gold and silver."
it is pretty weird- the moves in metals compared to greedspan's commentary.
Why? Greeny could always smell a sale.
China, Switzerland, Germany won't rig the market? You forgot Russia. Now we can all rest easy that trading will be transparent and fair.
After you've traded commodities for a hundred years or so, you see that everything often moves as a group.
NO LOGIC to that, except that a depression wrecks all boats, and margin desks have no sense of humor.
Peeps have to sell what's liquid.
there are going to be alot of shoulder taps today. these dickheads are going to cause some serious unforseen damage manipulating these comodities. they think just because nothing has happened yet that they can push prices around forever. black swan time pretty soon
If you think the game is rigged why would you play in the game? Once you crawl out of your paranoid delusional state, think about how absolutely impossible it would be to rig a market of that size. Anyone reading a market would quickly go bankrupt is everybody else would pylon to their stupidity and take advantage of the very temporarily incorrect pricing that existed. Why don't you Google Hunt brothers and learn something rather than repeating every stupid mistake that's ever been made in history.
I would like to see the miners withhold production. Once the word got around that there is no physical left on the market I would think the paper game would go up in flames... or not.
Wait, I am going about all this the wrong way, keep fucking rigging the market, Silver is at bargain prices, I am buying all the way down.
the miners, especially the smaller ones are depedent on the credit of the banks to keep their mines running. Although I heard something about a PM Miner CEO coming out recently and calling for just that, Hope he doesn't tumble down a 25' embankment to his death or run into any nail guns shopping at Lowes.
The annual amount mined is trivial compared to existing stockpiles. This would have no effect on prices and the mining companies would go bankrupt
never take a wrench to the balls if you can avoid it
Guys just wait till Gold is $600 and Silver is $8.. then we can really get a bargain!
Dont rub it in bro.
If you are a true ZHer then you will buy precious metals all the way down.
Or you can admit that the central bank "money printing" = inflation thesis is wrong and improve your understanding of the monetary system (see my profile for details).
Give me a break with your smug supposedly sober analysis in the face of the rabid unthinking zh troops. You call yourself capitalist and you are a trader. A little too deep in the system perhaps? What exactly is a capitalist nowadays when there is no capitalism?
I don't care if money printing = inflation, disinflation, deflation, whatever it's terribly destructive. It's heading to a crisis of faith that much should be clear to all. Your precious rational economic analysis is about machievellian power politics - throw out your economics textbooks.
Capitalist profile says you are "Shervin D'Aguiar". Nice name. Nice twitter pic too (is that Tim Cook standing over your shoulder?) Were you born in 1979 or 1980? Does your 8-10 year career thus far give a complete understanding of the "monetary system"? Were you employed before 2007? I bet not.
Bit of a joke riding a central planning wave and working for a cartel, fresh out of school, don't ya think?
Good ad hominem arguments there. Using my age and my working career as reasons for not having a complete understanding of the monetary system.
Then again if that's all you got then there's no hope for you.
Oh and the cartel says hi.
So, questioning your education, experience and career is ad hom?
If you talk out of your ass, why can't people ask why?
Capitalism is dead just like our Republic... :(
Meh.. I try to help people see the light. I too was a Fed hating precious metals buyer but then I realised it was just my political ideology clouding my judgement.
By the way my username doesn't mean anything so don't read too much into it.
So you sold out, that's what you're saying?
Capitalism really doesn't mean anything these days, you're right about that.
Yeah cause fiat has never failed.
it's different this time
the trolls were bound to come out and play on a day like this, what can you do?
"Or you can admit that the central bank "money printing" = inflation thesis is wrong "
They just stopped QE3 yesterday didn't they? Let's wait for QE27 and lets chat then
The pigs must enjoy their day
Yes, and as you know, this pig loves to Troll Hunt on days like this.
Gold and silver are now at no brainer levels (much like 1999, 2001 and 2008).
What part of fiat do you not understand?
It still hurts.
It only hurts for a little while.
I will never complain about a sale, or cheap diesel, fucking bring it!
Hell yeah. I think I'll taking some fiatscos to the coin shop today and loading up my boat.
I hope a dying ebola patient jizzes all over your face....
"For most investors, the job now is to decide whether Greenspan's position on ending QE and buying gold is actual analysis, or purposeful obfuscation."......quoted from CNBS.
Purposeful Obfuscation being the keyword.
"Hit me in the face with a wrench. I like it."
Q: Why the wrench? I would have chosen the belt.
A: Because FUCK HIM, that's why
should have known as soon as greenspan opened his mouth and said to buy gold
The pysical mkt is now completely dissconnected from the paper market.
I say if they can keep it here, it will be guarranteed mine shutdowns and delivery defaults in 2015.
Great time to buy if you got the balls.
Wow, getting close to the final breakdown.
When people told me 800 would be seen again, I did not believe them.
The negative sentiment is getting pretty strong out there....
wow, the PTB are hosting a fire sale in PMs! I get paid tomorrow. Time to stock up.
The HUI just breached its 10 year lows
The old trick of trashing silver to pull gold down isn't working so well.
Working great for me. Cheaper silver.
you still need to get physical
I still need to get physical?
I'm talking about physical.. I do financial assets very selectively these days.
Keep stacking and make sure you have plenty of ammo. 12 gauge slugs, .223 for supression, .308 to reach out, .22 for close in and also nail guns.
147 or 158 gr. 9mm for suppression.
Overfed
147 gr if ya got a suppressor for it. That's heavy enough.
I meant more like Ma with an AR-15 laying down supression fire while Pa pops the zombies at a distance with .308.
Maybe we need to get Ma a SAW.
https://www.youtube.com/watch?v=Ufmn72l8hjE
I was thinking along the lines of quieter operation. ;-)
A SAW would be awesome, but pretty much unobtainium. :-(
Freddie, those are some of my favorite calibers, i've got them all, and for all the same reasons you provided. Plus 45 ACP for the tried and true 1911 close in...
So do I, plus a few others. I believe we'll be trading them for food next year.
Springfield Armory 1911 in 45 ACP = Tack Driver.
I'll pick up the .45 drop with the 10mm.
I am still trying to find a scope for my nail gun. It seems like bankers don't need a scope.
I love the youtube videos with the old southern guy who does gun reviews. He says "good for social work": gunblast.com. This guy is real country.
https://www.youtube.com/watch?v=JLl2Qpq4VFs
.22 subsconic or silencers - good for future commisars/facist UN invaders in close in work.
Hand Grenades are better.
Becareful of those nail guns, they are very dangerous if you work in finance & banking.
Perhaps they won? But my stack stays in pace. Thanks.
Beep.... beep.... beep.... beep.... beep.
<Sound of money truck backing up>
It's always been the long game that hawkish/deflationary fed policy would result in deflationary pressure on the economy reflected in commodities, followed by renewed political pressure for easing which would in turn be inflationary. We've been dealing with inflated commodity prices for a while now, don't be surprised if they go alot lower before they start rising again.
so are the three bears flipping burgers or in some kind of traveling carnival ..... ?
I'll start buying sub $10.00 when silver reaches her normal, century long average ..... lol......
you are redefining the term "attention whore" around here
Look at me! I am an asshole!!!!
Bruce Jenner.
Cue Dennis Leary...
https://www.youtube.com/watch?v=UrgpZ0fUixs
"We are really on track for a soft landing. There are no balloons popping.”
- David Lereah, NAR’s chief economist, December 2005"I'm so mad at my neighbor. I bought my new home here in Ashburn last summer and plan to sell it next year (after holding two years to avoid taxes) to make a nice return on my investment. The problem is my neighbor is trying to sell his house (very similar to mine) right now and he keeps lowering his asking price. Each time he lowers his price, I see my potential profits next year getting squashed. Doesn't he realize he's hurting the comps for all of his neighbors by doing this? I don't think he is acting very "neighborly" by doing this. I want to say something to him and tell him he should stop putting his interests ahead of his neighbors. It's people like him who are ruining the market for the rest of us. If he would just refuse to lower his price, we could maintain our comps and everyone would benefit. What can I do to stop him?"
- Question during a real estate chat held by the Washington Post.Dennis Leary does a great impression of Bill Hicks.
Leary stole that bit from Louis CK
indeed.
i made many calls on said silver bubble at the time & had 30-50 doomers with every blow off top meme under the sun on my back. the jpm threads, i tried in 2011..... i posted housing bubble quotes at every turn. alas, the doom cult won & the rest is history .....
bay of pigs ? hello .... ? another rocket scientist.
its all a trade and the doomers got fleeced like sheep. open up that 5 year finviz chart, look at a bubble in all her glory .....
Why didn't you make a few million dollars in the options market then?
No conviction?
I see, so there can't be such a thing as an intermitent silver shortage? Things can only go one way? People are either always right or always wrong?
It's like talking to a four year old with the attitude of a 14 year old.
tmosley - 01/06/2012 - 21:32 | 2041320
When the industrial users of silver realize what has happened, and understand that they can no longer trust the futures system, and buy up months or years of supply from mines in advance, leaving none left for the minters and then none for retail. At that point, premiums explode so that silver flows back out of retail into the hands of the industrial users. This will not be a short process, though there will certainly be a brief exponential blow-off, which you will wnat to sell into (trade silver for gold only). I can see silver priced at much higher levels in terms of gold for ten to twenty years (though the blow off will be in the first five of the move). I expect the blow off to take silver to anywhere from parity to ten times parity (it will be exceptionally dangerous to wait for these levels, as it will be followed by a massive crash once industrial demand is sated for some months or years going forward). That said, there could easily bee a secondary bubble as retail gets involved in the rising prices. It might even be big enough to presere much of the premium of the first blow off. I don't know, I plan to have moved to gold long before that time, with only a small amount of silver remaining in my vault for speculation and diversification.
tmosely - Fri, 01/06/2012 - 17:13 | 2040601
Yes, I stand by all these comments.
A shame that in the last two years you have failed to progress to the maturity level of a 16 year old.
I also note that you have AGAIN failed to answer my question. Why didn't you make millions in options?
SPOILER ALERT: Because you have no conviction :)
Irritable bowel syndrome.
I could post hundreds of these ....
You spilled forth soooooooooooooooooo much crap back in the day. A bubble pumper like no other .... lol.
Good old Spaulding Smails, the truck driver from Chicago. LOL
yup ..... & clowned ivy league pimps and doomers all in 2011 .... not talking shit after something hits ....
called it all in black in white in the teeth of bear porn, doomer what if's .....
did you ever study dollar denominated debt like i said .. ? .. funny how that shit plays out in real time with the reserve currency, letters of credit, velocity, new found oil glut & the best economy out of all the shit show. suddenly our bonds not so bad when you take another look at the german banks and euro shit show .....another win .... china, lol, her beloved consumer explosion has fallen flat, per capita be damned she will be the next reserve currenccccccyyyyhhhhehehehe ... wow ..
china, opec all getting monkeyhammered on the flood of hot money .....
am sure you bought silver at 4 and sold at 49.
Silver and gold still have 4000 years of history behind them as being money, the fiat crap coming out that sewer reserve not so much. The day gold and silver finally go where they should I am sure you will come by to say hi
I'm wondering if bob dabolina will make an appearance today?
or how about the "it takes $5 to dig it out of the ground" guy
Wow, you really are creepy. Like, homosexual manstalker creepy. Like when I caught Trav ranting and raving about me on another website after two years after he got banned from ZH creepy.
Let it go man. You gotta grow. Don't get so hung up on the past. You won't see me pulling up your old posts. You know why? Because they were irrelevant then, and they are irrelevant now.
.... wow ......
try moving the focus away from your bad calls. in black and white, dave koresh 7th day adventest doomer cult leader, acting like he never pumped silver like a 2 cent bitch. so you outed as a fraud, creepy indeed you still show your grill around these parts.
so many bad calls, so much money lost .... buying grips of eagles like a fool at $40.00 now your stuck ..., or did you trade futures like turd ? fools soon parted with said money as bubble pops ....
i bet you buy options instead of sell them you clown .......
You are a sad little child. Enjoy your gloating.
isn't he the same troll who said gold would never go to 1000? With a different name of course
I'm right here fuckhead. And I never claimed to be a rocket scientist, but I'm still sitting on some silver purchased @ $4-5 and gold under $300.
And physical gold and silver are not, and never have been, in a bubble. Your ignorance shining brightly as usual Spaulding.
please compute that normal century long average, adjustment for inflations,
as you proved us all how much you know....
century long would be from 1914
please start there
and please compute the betterment of lifestyle ect since 1950 with said dollar, tech, & the gdp print in the trillions .....
Come on Putin, China, somebody call these fuckers on their limitless toilet paper bluffs! I can't take it much longer ...
umm... they want it lower.
I guess that's true, at least until they get off the dollar. It's getting off the dollar that I'm impatient for, surely that's in their interest. The exorbitant privilige has gone on far too long.
How do you get off a phantom or an illusion?
They will trade in USD until they can, and then in next means of exchange.
What matters is what physical goods (and labour) you are offering and whats goods and services you are receiving in exchange.
Russia and China (States) have different priorities than yours (individuals).
Obviously states have different priorities, but for the last several decades the US has been fucking with price discovery at will and in an accelerating manner. This should bother both individuals and states that don't have the power to meddle that the US, with its reserve currency, does.
How long will individuals and states allow the fruits of thier labor and non-renewable resources to be consumed in exchange for false paper promises? Individuals may not have much choice in that, but some of stronger state alternatives to the west surely do.
They gotta sell something to prop up the dow.
Gold is going to Goldman's lows being Goldman wishes it so. Silver might as well be free.
this shit is so hilarious...
do they really think they r gonna shift the sentiment of those who understand what this is all about...?
dont think so...
these r the times when u find out who has courage and conviction...
knowledge and understanding..
i shall not be moved.
DEATH TO THE MONEYCHANGERS.
Without additional massive government deficits there will be no inflation. In fact, there will be deflation. I fail to see how gold increases in value now, when it failed to increase against the dollar (in the last three years) while the Fed was printing trillions and massive government debts were accumulated.