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Gold Surges To October Highs, Snaps Japanese Linkages
Gold prices have surged this morning to their highest since October (over $1221) as leveraged hot money greatly rotates its repo-driven way out of risk assets and into Greenspan's alternative currency. However, there is a bigger problem for the biggest pairs trade that no one is discussing - apart from us - the decoupling of the long Nikkei, short gold trade as the repo market folds in on itself from the suck out of $80 billion in collateral by China...
Gold back at its highest since October...
and the Gold/Nikkei trade is coming undone very quickly...
See here for details on the Gold/Nikkei trade and its implications...
Charts: Bloomberg
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Still stackin'
"Gold Is Money And Nothing Else" - JP Morgan's Full December 1912 Testimony To Congress http://bit.ly/1vzK5EJGold surged, ho hum. Gold surged in dollars, now THAT"S somethin!
if you quote, get it right.
"Money is gold, and nothing else."
If you have half a brain fuckwad click the link and see that its a direct quote from the zerohedge article.
Be my guest. go ahead, click your own link and find the quote as testified by Morgan.
Hey Gomer, are you really that stupid? It's the title of the fuckin article, dimwit.
Neal Kashkari, is that you? Still hiding out in your cabin after fleecing your fellow human beings?
It’s just a damn shame there is no loss consequence to the perpetual money machine
Well, I guess there are always the lampposts and tree limbs.
When the time comes I just hope we don’t run out of lampposts and tree limbs.
(the guillotine is for aristocracy, the lampposts and tree limbs are for common thieves and rustlers.)
The state of the world...battle of the fragile egos.
One fragile ego finds it necessary to attack another over a purported misquote.
Other fragile ego feels diminished by silly and meaningless attack of first.
Hey Gomer, are you really that stupid? It's the title of the fuckin article, dimwit.
My kids learned in primary school to read past the headlines.
You might want to retract your baseless insults and namecalling, assmaggot.
Anyone on ZeroHedge use GGN as a gold play?
There is an energy component in GGN
i have dozens of cardboard play but not that one.
Ah yes, paper gold can do whatever it wants.
Make margins 100% and let us see the real "price"...
Apmex was selling 1oz pamp bars for $100 UNDER spot this past weekend. What does that tell you about your "real" price?
It has a heart of tungstun?
LOL...yeah sure they were. In 15 plus years following PM's, Ive never seen that once.
Fuck you troll.
Edit: just for the record, Pamp Suisse bars are NOT under spot at APMEX.
http://www.apmex.com/search?q=1%20oz%20Gold%20Bar%20-%20Pamp%20Suisse%20...
once AGAIN you prove how stupid you really are. Take a look here; http://www.ebay.com/itm/1-oz-Pamp-Suisse-Gold-Bar-New-Design-In-Assay-SK...
Thats $1.50 over spot. Combine that with the 10% off coupon paypal had and you couldve gotten one for $100 UNDER spot. i'll be sure to think of you when mine arrives and i go to the gold store to flip it for a quick profit.
LOL
So you throw out BS numbers and then come back with some Paypal coupon shit instead of telling the truth about actual prices?
A typical misleading comment from you.
Nice strawman there, typical of sumpletons such as yourself.
When did APMEX become Ebay?
Apmex has been selling on ebay for years.
Hey dipshit, did you see they sold out in under a day?
Actually they didnt sell out, they had it gong for 3 days and sold over 5000 of them. It was still valid up until yesterday. Sounds like youre a little bitter that you missed out on it. Dont worry youll have plenty of opportunities to buy it lower.
I did this actually and did buy it for $100 below spot. Ebay has to pay the $100 sales promotion coupon though (morons) and they don't give those coupons to many people but they do say (FOR ANY ITEM). I posted the link on Z.H. Saturday when I saw APMEX was running a promotion on Ebay for Pamp bars at spot. Limit 5. I couldn't believe my luck. I think they sold 4,500 oz of these on Saturday/Sunday.
It tells me that the past is NOT precedent. Thanks for helping.
Bullshit. They are BUYING 1 ounce bars for OVER the spot price right now. If that was the case, they would have been cleaned out in minutes.
Yes, and I loved your post the other day, dripping with ZH sarcasm.
"Don't we merit better trolls than this? Come on people..."
Not yet, I need more smackdowns. Make it last and make it good baby!
Silver's up as well.
Anybody in the know, why is it that we need to have the silver price these days given at a 1/10000 dollar accuracy?
Because when you sell 10 million ounces short, you need all five significant digits.
Oh, the central banks can't let that happen. Press the button, initiate SLV, GLD printing & dumping into the market. Pick up the phone and call COMEX.
Its not decoupling, the yen and nikkei have dropped today. So the link itself remains much valid.
Besides... Variance analysis of that linkage shows that there's significant difference in short term relationships.
CME will default. That's the real payday
As a market observer for many years I believe Gold should be at $1640. That's the point when sellers come around and start trading in physical bullion for paper dollars. Under $1640 and mines close as well.
Damn man, don't often see you say anything positive about gold (not that there's been much positive to say about it). I've seen other analyisis of gold price that seem to make sense to me and your estimate is certainly in the range, if on the low side. After the ass kickin' I've had I'd love to see some $1,500+ spot prices. My retirement cash flow could use a boost. Back in my days of being in the rat race a $100 here and a $100 there, no big deal. Now an extra hundred or two a month makes a big difference.
I'm feeling the pinch too. I haven't had a beer in a bar in years. I made my own pizza last night with store bought frozen dough. It was decent.
Interesting you should say that. In 2012, I was unemployed for a bit, and sold some gold at $1660/Oz to make a few bill payments. I felt bad about pulling off of my stack, but not terrible, because I thought that was a reasonable selling price. Now? Not a chance I'd sell at these rip-off prices. What can you even buy for that kind of money now? Property in Detroit?
I hear you. At $1525 I sold for fiat and took my son to Europe on an epic trip. Didn't feel it was a bad trade although the Euro was high 140s at the time. If / when spot hits $1600 I'll consider doing it again. There was a long resistance at $1640 range before dumping to $1200.
cny is a different story, but not in us$ index, http://forex.tradingcharts.com/chart/US%20Dollar_Chinese%20Yuan%20Renmin...
Somebody Is Manipulating the Numbers: ‘In The Realm Of Economics A Change Of This Magnitude Is A Collapse’.... Judgment Day… Is inevitable?
http://investmentwatchblog.com/somebody-is-manipulating-the-numbers-in-the-realm-of-economics-a-change-of-this-magnitude-is-a-collapse-judgment-day-is-inevitable/
I'm seriously hungover. Anybody seen my pants?
Unfortunately, you left them on the floor and the dog shit on them .You will have to report to work wearing your FurFest suit...
On your head. Is that your nose peeping out the fly?
We snapped some folks.
If it follows recent patterns gold will fall tomorrow the same amount that it rises today plus a fraction of a percent. Somebody is making a killing front running the huge daily ups and downs.
money is a contract upheld by force
gold is an asset
two different things
Anyone notice chain store sales and Redbook this morning? Sort of going the wrong direction for this time of year....
.
Gold is money, everything else is the Tribe's curse.
Interesting development considering this recent great read linked by ZH in the recent week:
http://www.zerohedge.com/news/2014-12-04/inside-look-shocking-role-gold-...
Uh, that's the hyperlink in the first paragraph (do a mouse-over and you'll see the link... you don't have to actually click).
http://www.zerohedge.com/news/exter-inverted-pyramid-refresher
God damn it! I should have turned my buck-01 CDN dollars into gold when I had the chance. ZH warned me but I didn't listen because I still believe in a deflationary death spiral. Speaking of inflation, I'm tired of chicken but what ccan you do when beef has doubled in price. That's the only good that has me puzzled.
I take it you haven't tried to buy bacon in Canada recently...I'm all but priced out, cutting back on other groceries so I can still afford some bacon.
I forgot about bacon. Must be supply demand as nice bacon is 9 dollars for 500 grams on sale or $1.80 a hundred grams for some nice locally made no name brand. I don't buy much bacon lately but I looked at it yesterday. I bought pork tenderloin on sale for $5 a pound instead.
As soon as the cat was out of the bag, they changed the game.
http://gold-silver.us/forum/showthread.php?80722-Why-Metals-are-Diverging