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Gold & Silver Slammed Back Below FOMC Levels
Monday - Purge. Tuesday - Surge. Wednesday Purge.
As it seems USDJPY is responsible once again... (as the Gold/Yen trade rears its ugly head)
Although on light volume, gold and silver prices are tumbling this morning, now trading back below the pre-Dec 17th FOMC levels (making sure that status quo-huggers can point to them being down year-to-date as proof all is well in the world)...
Charts: Bloomberg
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Ve Vant to purge your souls Vitches!
Deflation causes hyper inflation.
Window dressing. Friday, will be the rampathon that happens every year too.
Going forward into 2015, based on historical commodity cycles, there is a strong cyclical upside pressure on gold prices.
"Hey, buddy! Pay before pumping!"
"OK."
"What's those- Ferns? We don't take 'em."
"How about these 1960 Franklin half-dollarz?"
"Now we're talking. Fill 'er up."
"That's not silver. That's a quarter."
"No really, I know it says it looks like a quarter, but see, this date tells you that it has 0.62425888s silver in it. So get your calculator and your scale out and we can calculate what this bag of 'em is really truly worth."
"Um, it looks like an old quarter to me. Where's it say silver?"
"It doesn't say it is silver, but the government debased our currency in the 1960s. Prior to then, coins had silver in them, see?"
"Uh, I think I'll take this other guy's 1 Ounce Silver Eagle. It says 1 Ounce of Silver on it."
I was imagining a situation where the proprietor was my age. There would be no problem with half-dollars.
Yeah, I know you guys are out there, and I don't know what things will ultimately look like, so I just diversify by portfolio of alt. currency and will have some half-dollars for you when the time comes too. Having some cartons of cigarettes in the portfolio might not be a bad idea either!
http://www.coinflation.com/
Just show em this.
Yeah, when he hears the ring of a silver eagle as it hits the table he will turn the pump back on....
Citi and JPM pushed for the derivative bailout. They know something with trillions of bad stuff out there.
We should know within a couple of years.
I've been thinking about this whole bailout thing...I'm sure Citi, and the pols involved, think they got over on everyone, but I'm not so sure.
It's one thing to pass a bill with a lot of convoluted financial mumbo-jumbo, most voters probably have no idea what is being talked about, and their eyes glaze over.
It's quite another thing to ACTUALLY bail out these banks with taxpayer money. I have a feeling that passing the bill was a LOT easier than ACTING on it will be. Once that gets out, there may well be some unexpected blow-back from a public already on a hair-trigger.
And if it happens in the next year or so, TPTB will have to do this at a time when Americans are getting revved-up for a contentious election. A party that is seen to be responsible, or attempts to defend it will be crucified.
So they got it passed. Big deal. Try actually implementing it when TSHTF...and good luck with THAT.
Co-mmiserating here gentlemen. Nothing I did this year appears to have worked. No amount of (so I thougt) well-reasoned prudence and well-founded mistrust of government availed in any respect.
I could have approved taking hard-earned cash and buying a wildly speculative condo 100 yards away from a major freeway in downtown Oakland; would not do it and now there are none available and we appear to have left a hundred grand sur la table and the wife is not happy with that let me tell you. To say nothing of the PM and Gazprom buys...
This is how men capitulate, right at the wrong time. I am walking through the atmosphere of the mathematics of capitulation from prudence and reason into fervour, blind faith and lemming behavior; breathing it. Not an entirely pleasant feeling as I rolled into SF (wonderfully clear highways) on this bright cold morning.
There's no room for prudence and well-reasoned decisions in the current world. It's a fucking turkey farm, and you either escape the farm, or party on every day without risk until the day before thanksgiving, and then - whack. And thinking you're going to get out before that day is like a turkey thinking it's going to leave the farm before thanksgiving - to the best of my knowledge, turkeys don't get the calendar.
bro u know the gritty city by the bay is headed for some fucked up times despite the attempt to San Francianize it...
yeah, buiyin a condo next to 880, 80 or r 580 in a city with a bunch of broke ass, no job having, gun toting pissed off mother fuckers sure would have been much better than accumulating real money???
if the wife doesnt understand the end game by now then just have a shot a block out the nagging...
she's either down or not...good luck...
Kaiser out from the 'O'....
That's why they call it capitulation...you give up in the face of what seems insurmountable odds...
That is exactly when you must hold on harder as others fold...You cannot be swept away, unless you loosen your grip.
Don't be that guy.
"That is exactly when you must hold on harder as others fold...You cannot be swept away, unless you loosen your grip. Don't be that guy."
WORD!
knowledge...
understanding....
courage....
and conviction....
Look at this chart:
http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&instty...
Do you see an oportunity here?
Gold is actually one of the most useful metals. We don't use it much because it's too expensive.
It's similar to titanium. Titanium is a fantastic metal with a million uses, but we don't use it because it's expensive. I can't even imagine how much a car would cost if the entire frame were titanium.
I have a Titanium Leatherman, it was not cheap, but it is lightweight.
"Cap'n Yeller! We're taking on water! This storm is immense."
"Maintain the Course, Mr Geitner! We. Must. Suppress!"
"Aye, but were listing to port!"
"Stay the course, Mr!"
"Dump more contracts, men! We must level the Ship!"
"Aye, Cap'n!"
Gold is up versus all fiat currencies in 2014 with the exception of the Federal Reserve Note aka dollar. The London AM Fix on 31 Dec 2013 was $1201.50 and the AM fix today (31/12/2014) was 1199.25 so one could say gold virtually unchanged or down 0.18% Y/Y. Using the AM fix the gold price in British pound was up 5.89% Y/Y and up 13% Y/Y in euro. There is no PM fix on the 31st of December.
A trillion more FRNs were printed in that year, constituting 6% new money... ergo an unchanged price is really equal to down 6%.
I guess that trillion extra FRNs were hypothecated many times over and used to supress certain paper markets and lift others?
That is how it works in the paper industry,,, Buy,,, Sell,,, Buy,,, Sell,,, ad nauseum
The only difference is they include physical which is greeaaat!
Don't complain about the manipulated low prices....... BUY! BUY! BUY!
Heck I'm hoping the morons take it down even moar!
Paradoxically, not so anxious about owning more gold now, as I have time to save some more fiat before making my next phyz purchases, knowing that I will be buying at the lows, as long as this golden (pun intended) window of opportunity remains open for a while longer.
ordered 200 silver maples last weekend and there's a 3 week waiting time.
I was kind of spooked by that...
so I ordered 100 more :)
And than a friend of mine called me and he has to sell his gold and silver because he has a cashflow problem in his company asking me if I wanted to buy them for a while untill he's back on his feet.
And suddenly I bought over 2200 ounces of silver and 20 gold philly's and my now account is tapped out...
And just as I promised my wife I'd slow my PM purchases down :)
Newyear of 2015... and I'm broke
You are not broke. Your wealth is in an alternate form.
PM Collector Wife Tip: Get a couple of coins in holders and get a gold chain and give them to her for birthday, etc. A lot of her objections will cease. It worked in my case.
Or better yet melt a bullion coin down and make some attractive jewelry for her. I did that to a nice shiny 1977 krugerrand recently and surprise surprise it had no tungsten core.
Libertad Pasties!
During deflation, the weak hands must cough them up.
And then you wake up one glorious morning.
The fed has gone zimbabwe.
And there is no more for sale.
Anywhere.
Paper PMs may be getting crushed, but for you coin collectors out there, Ag Pandas have been appreciating in price for a number of years. Some mintages are very low. I acquired a 1994 Panda, small date, only 60K were made.
I have always pursued a strategery of holding 50% PMs in numismatic form.
Not only do they appreciate, but you have a nice in-your-hand collection of History.
I came to the realization that holding some semi-numi coins makes sense after first chasing the lowest cost stuff out there. This realization came after noticing my single 'collectible' fun stuff has not gone down, and has actually gone up in value, while the cheap bars and rounds have followed Spot down.
Heck, even Provident's Zombie Walker Round sells for double what I paid more than a year ago!
to bad those capsules don't stack and they take twice as much space as other bullion coins.
But they're very nice and keep their value pretty well.
PMs are a hedge, not a strategy. Don't fight the tape.
Now over a month waiting for delivery of physical that was marked as 'in stock'.
What Gold market? The vaults are empty.
pretty common to see this at the end of month..simply view Futures calendar for last day notice, delivery
example, the low seen in the past month was Nov 30
The alternative SWIFT system now started by Russia and China to avoid the use of dollars (in international cash transactions) could have a few repercussions coming to all of us:
They will not use dollars and so may begin the use of a new currency.
If we call this currency the Rubiyon as an example, it would be more successful if it were backed by gold.
If the Rubiyon was gold backed (say 10,000 per ounce of gold), it would swiftly eliminate rehypothicated paper gold used at Comex.
This would also make the Rubiyon a wonderful safe haven (far better than putting your cash into the $18,000 Dow Jones).
This would also force the FED to stop manipulation. Who would buy paper gold?
This would mean either the PM's would dramatically increase or the U.S. economic system would collapse.
Careful when crossing the Rubiyon.
Happy New Year!
Gotta reply, something I've posted on several times before. Keep the USD as Reserve Currency, since its used to Price All Commodities Globally..but..paste:
This is what I see as the Move the EastBloc Nations, or those I refer to as the BRIC & BRICets (Group Of 77) =in total over 120 Nations, and the reference of EastBloc is not Geographical, since most all Latin America is included, minus Colombia of course.
All the EastBloc nations would simultaneously, same day, same time, Hard Peg to China's Yuan, and China would ReValue the Yuan to 2 to $1/USD (I'll use 2 to 1, though of course its my best example, and you'll note that this was the Exchange Rate when Nixon Closed the Gold Window and in 71 and in the 70-80's).The above is the Basic idea.
incidentally, this is how Gold goes to $10,000+ and Silver over $500
when the Move comes it will happen in this kind of way, likely over a Week Holiday, like mid-Feb 2015 when China closes their Markets for their biggest Holiday, the New Year week celebration
"If the Rubiyon was gold backed (say 10,000 per ounce of gold), it would swiftly eliminate rehypothicated paper gold used at Comex."
As much as I like the idea, it won't happen any time soon, imho. The last thing China wants is quick appreciation of its currency. Same goes for Russian Federation. However, in the declared economic war against Russia and soon against other countries non-aligned with D.C. policies (China included, as long as it is backing RF), all bets may be off and the theoretical 'Rubiyon' may be more effective and relatively cheaper than millions of soldiers and ballistic missiles...
Good for me! I just placed my last order of the year. I'll keep buying some every month as long as it stays rigged.
Sell the paper.
Buy the physical.
Shoot a bankster in the face.
Happy New Year!
Russia and China have replaced the SWIFT system today. Things were moving so quickly, that they decided to implement their alternate system to SWIFT immediately.
Now we will see if Russia and China announce a new currency that is backed by gold and silver.
It amazes me that the FED have continued the Keynesian policies that brought us to this point (200 trillion in debt which we can't pay). They are really stupid to let the Russians and Chinese start this first.
Toddy time!
They've had silver on the ropes since earlier in the year, but that darned gold is trying to close out the year the same price as last December. This cannot be tolerated. It closed out last year at (surprise) $1205.
They will stab and beat and grind until it backs down from $1200.
The whole year= zero.
No matter, the Chinese and the Indians and the Russians will keep on buying.
Stupid America will be the ones with no gold, right when it matters the most.
Just grabbed 4 OPM 10oz bars. What the hell. They're cheap.
Little over a third of the way now to my 1000 oz goal.
Gold update:
http://www.globaldeflationnews.com/gold-elliott-wave-update-for-week-end...
More harsh lessons for the gold & silver religion:
1. the Regime will not allow your idols to appreciate in value
2. YOU must depose the Regime FIRST, then your idols will be THE currency
ie your idols cannot depose the Regime, only bullets can do that
Well then, the regime better keep those idols coming or the derivative demons will eat their asses up.
In 49 BC, Julius Ceasar crossed the Rubicon. He did so in violation of the law and with the full knowledge that he could not go back. He was then considered an outlaw in his own country.
Thus began the Roman Empire with Julius Ceasar at its helm. His task was much more difficult than ours, which is supporting the rubiyon or gold backed currency.
The printing presses should be stopped from stealing our wealth and Gold backed currency (which is in our constitution) should forever be America's right.
The ONLY rights you have are the ones that you get AND retain with weapons, not principles or wishful thinking or shiny lead.