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Gold & Silver Slammed As EURUSD Plunges To 1.09 Handle
It appears hotter than expected PPI has reignited the "rate hikes sooner" meme as Treasury yields surge, EURUSD plunges (to a 1.09 handle) and gold and silver are monkey-hammered...
USD is soaring and Gold is not...
And silver even worse...
Charts: Bloomberg
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It's...It's....It's HAMMER TIME! MC HAMMER style!
Break $1130 please. PLEASE! If not now, when??
Yep 9:20, you can set your watch by it!
Eventually there will be a world-wide realization that the sovereign bonds are no safe haven. The question then is what will replace them.
When that happens I can guarantee one thing there won’t be to many financial advisors that say zero is the correct allocation to precious metals, a believe that’s so pervasive now.
I'm going to buy this dip, one of these times it will be the last dip.
Hahahaha,
I just got a $700 check from my mortgage company for a surplus in my escrow account.
30 ounces of silver coming up.
Fuck you Janet!
Get rid of that escrow man, you can pay the real estate taxes yourself and reduce your monthly payment by hundreds of dollars. Stop sending the bankers MOAR money than they need.
Too bad there's no gold in them there charts eh?
the euro is On Sale!!!
back up the boat and load the truck!!!!
early xmas!!!!!!
hugs,
eurostackers reserve int'l hedge vehicle
now explain to me why the €vil €uro goes down with gold and silver, before I ask about this interesting word... "eurostackers"
because the "price" is manipulated straight to hell! what's so freakin hard to miss about that? banksters own all these various currencies, so when they take from one pocket to put in the other and skim a bunch for the breast pocket as is the usual course of business, people like you can be confused about why this is!
The masses are being herded straight to digital hell...
http://galeinnes.blogspot.com/2015/07/the-awakening-of-technology.html
Bankers hate that simple mortgage trick.
LOL
How does that work? Whether prop taxes and insurance are paid directly or thru the bank via escrow, doesn't the amount due stay the same?
The tax bill is the same. The difference is the entire amount owed for taxes belongs to you until you pay it. With escrow you are loaning the mortgage bank free money every month (they pay you no interest for your generous loan).
Thanks for the clarification
$14 silver coming up.
Techincal charts say $12 is not impossible
As long as your buying the right way there's no problem if the price drops further, as I said there will be a point when it's the last dip in this price range.
If silver hits $12 you won't find an ounce available anywhere, unless you're willing to pay a minimum of $6-$8 premium.
I'll be waiting with open arms and a big truck.
Give it to me!!!
Yo Bunghole!
I'm not sure what your source is for yer silver but let me help ya out there. You're not buying on ebay, are you? For $700 you should be able to pick up about 36 1 oz Silver Eagles, or 40 1 oz, .999 silver bullion bars. Check into APMEX.com. They are a very reliable bullion source. I have utilized their services many times over the past dozen or so years without a problem.
Si, Janet! Chinga Tu Madre!
Pateince Grass Hopper.....................You are young........you will learn.
Could go to $1050....................the price India paid the IMF in 2009 for 200T
IGAG.... Indian givers Gold Price, has a nice ring too.
https://www.youtube.com/watch?v=51Wg6k9cWhM
I recall China purchasing a bunch back then at $1100 as well, which I consider the "back-the-truck-up" floor.
Which isn't to say it won't go lower, but that there won't be any physical for sale at those prices.
They print your grandkids money to short PMs....then they buy it.
That's OK....I'm buying it too.
Just think of it as Chinese welfare.
what happens in the real world is that higher PPI means the currency is devaluing. So the currency falls. And gold rises in that currency.
And rate hikes all through 1960 till 1980 produced higher gold prices because the hikes were not higher then inflation.
And from 2004 to 2006, Greenspan raised rates from 1 to 6 % and gold rose the whole time more then when rates were cut.
This time is different apparently...
I'm beginning to believe now that the Bernank actually meant that paper gold was a "Barberous relic"...
It'll probably go to 600 and silver goes back to 5, yet there will be no supply. (Gotta love fair markets.) Dollar gets more and more worthless by the day along with all the stocks, bond and pensions priced in them, while the typical hedges are rendered worthless and everything useful is shrunk and costs more. Eventually that price action will destroy the entire media entertainment industry once a threshold is hit. Not even being a multi-millionaire will count for much.
Welcome to the end of western capitalism btw, now take your medicine. BitCoin, financial cod liver oil, good for weening crazy ass debt junkies off their fiat meth. (and yes, it's going to hurt like a son of bitch)
shocking. soon to be under $1100, likely headed to $1000.
Good luck trying to find it for $1000
1000 paper price with a 50% phyzz premium tacked on if you actually want to take it home with ya in yer pocket.
That's the thing. People are broke. Unemployed. They'll sell it for whatever they are told to sell it for by 'the market'. I'm thinking 600 is the target range for gold and 5 bucks for silver. Some guy on here a couple of years ago was sure it only cost 5 bucks to make an ounce of silver profitable, beginning to think he was right.
Most broke people are not stacking PMs, that is not where the selling will come from. It will be from paper holders of PMs in their 401K's if anywhere.
The irony is all those 401k's, RRSP's, etc are only there until they get raided and emptied by the same people that sold them to you and run the banks. Cyprus and Greece are the beta tests. Regardless of what people believe, everyone's savings are getting gutted by inflation and the fact the banks themselves are helping raid them. After it collapses find out who, other than jews, think PM's are money. Then try to get more than the last price was posted. If the economy crashes and fiat gets nuked while Gold is at 600 and Silver is at 5.
That's all it'll be worth forever.
Or lower. China's still cranking production and they need to prop up their stock market somehow (why not sell Treasuries? they should...but they can't).
If gold goes below $1,000, I'm using my untapped HELOC and backing up the truck.
Wait for 600 an ounce.
Nadler and Dent in a circle jerk.
Good cop bad cop routine of 'yea' and 'nay'? Doubful.
I'm in the crypto corner waiting for the unavoidable collapse and helping people deploy solutions when the opportunity happens. Besides it's not like anyone here sets the price. But I can say with a certainity that $600 is the target for gold and it's $5 for silver. I didn't say that people would be able to get it for that price...unless it's paper...but that's what happens when people allow free markets to disappear without any contra action led by the same tribe that prints the money. Everyone obviously enjoys this arrangement so why bother intervening, fuck gold and fuck silver, got better things to do while helping develop something functional.
Like promote, offer solutions and help build an economy with BitCoin. Not like any of the "top dogs" in my industry I.T. seem to be adopting the dog food that will benefit them long term. Obviously they are tired of development and rebooting technology back on track, therefore: fuck them right in the ear. So most of the day is spent finding all sorts of new people to replace all the old people and businesses while sending resumes to jobs that don't actually exist.
Believe me, the 'candy' is getting handed out. Just not to anyone involved in the old and very broken shit show called fiat based capitalism or their economies.
Bitcoin Bitches
Barbarous Relics
Not real money.
We told you so.
Price Discovery
Bitchezzzzzz
Beachezzzzz
Both. BTC didn't take a slam in USD, soooooo I'll be using bitgold to convert my BTC to gold.
Bitchez.
silver to gold ratio is shooting up over 76:1 right now.
User your BTC for phyzz silver instead. That ratio is insanely wide since realistically it should be more like 15:1 or so give or take a few.
It will go to 1:1. You heard it here.
My plumber told me that yesterday
I've already got about 50lbs of silver.
Fellow oddballs, weirdo's, misfits and nerds; mount up and get ready to 01110010 01101001 01100100 01100101. In Block Chain we Trust.
Broken sarc meters and 2 retards? Or something else.
Obviously the time to buy is closer!
Inflation ticks up, so gold goes down. Makes sense.
Gold gets smoked anytime the Fed has a speak of any kind.... Look things are fine, gold is down, what could go wrong?
An Animated Show: The Rising Cost of Land in the US in the Past 40 Years
http://2.bp.blogspot.com/-zb0_loydbO0/VaXDqoS8d7I/AAAAAAAAaec/a5bJ-qtMC3...
When Yellen lectured people about the necessity of building assets, she conveniently neglected to mention that said assets should have been in federal reserve districts 2, 5, or 12 and not the backwaters of 8, 10, or 11...
It doesn't have to make sense. It just has to make money.
last week I saw it dip under 14.99 silver.. had my hand on the mouse trigger, but didn't have my passwords with me..
looks like i may get another shot, for some Boat ballast...
Yes folks, Janet Yellen did exactly what she was told to do. Go out and lie to the saps Janet, they buy the "rate hike” lie and while it’s still working use it! I find the Federal Reserve the most dishonest group in DC and with Obama there that is a tough statement to make!
Janet will hike rates right after she hikes up her mini skirt.
Such thought is a good way to lose an erection.
This time its different bitches. Happy Jade Helm day btw.
Purple helmet day is tommorrow.
I consider it a gift.... Thanks.. Never intended to sell for a FRN profit anyway..
Metals are rigged. Buy bitcoin and flip them the middle finger.
24/7/365 distributed market, bitches.
Metals and Bitcoin will both shine incredibly. I have both going for me.
Paper gold is going to zero.
I see criminals everywhere !!!
Free Gold, Free Corzine, Apple pie and Chevrolet...
keep stacking the phyzz bitches, gold is the only true currency when the paper FIAT currency collapses
you will be able to trade your gold for medicine and food during the zombie-pocalypse
or else you could sell your gold now and buy food and medicine
I would suggest selling some to buy food antibiotics and tradeable goods now. A NEW set of tires.....maybe a couple years worth of shoes for the kids.....liquor...coffee ...chocolate.....pet food ...a good set of tools now is the time ...it will be too late in a few months
Here's your reason, the Yen hedge that's been in operation for many months now:
https://au.finance.yahoo.com/q?p=finance.yahoo.com&s=USDJPY=X
So PMs go down because the early rate hike is back on the table, but stocks experience barely a ripple while perched on their all-bailout-all-the-time alltime highs. The bankster winning streak continues ...
Well, you're half right. PMs go down because the paper shorting is continuous on Old Yellen days.
In silver they have been dumping 9 to 30,000 contracts a minute since 8:30.
There's no way anything could stand before an onslaught like that. If it took 50,000 a minute, they would happily provide the paper.
It's a damn disgrace. Like the SEC and CFTC, the entire Executive branch, and the sold out, commie supreme court. Like modern America itself, I guess. A sham.
+100
Bank Of Canada rate decision this morning.
Housing prices:
http://www.gettingtechnical.com/01_home/market_commentary/can_en.html
I love the word monkey-hammer.
In Japan they have a table with a little hole in the center where they put a small monkeys head thru...and you crack his skull with a hammer and eat his brains.....I wonder if this is where that term comes from...
Thanks so much for the exquisite detail. Just ate breakfast.
Just who is buying this shorted paper gold???
algos sell it to other algos via wash trades, apparently:
http://www.zerohedge.com/news/2015-07-14/how-fed-almost-admitted-hfts-ar...
the algos appear to be run mostly by citibank and jpm these days, who can back it with a infinitely expandable money supply, ya know, since they are the fed basically:
http://www.zerohedge.com/news/2015-06-29/jpm-just-cornered-commodity-der...
Loving the price on silver; have been stocking up on rolls of Silver Eagles.
This is new gold coming onto the market from off of the coast of peru from one of the largest deposits publicly acknowleged outside of national security.
Do we really think it is interest rate projections? I don't think the market is looking at that. I think it is just multiple manias going on in different directions. It is the next ten minutes that matters, not next month, as far as I can tell. Why would Wall St suddenly start planning?
"Managed"
Congrats to all at the BIS. Earn those bonuses!!
What day is it today? It's every day!
Central bankers, and their .0001% friends, control all of us. Greece is a perfect example of how a country loses its independence and freedoms. How long can a few control the many??
All miners around the globe should cease production. That would really fuck with the PTB.
It may be coming. All that matters to these banker fucks is numbers of fiat dollars. Real products and producers don't matter anymore.
Nearly all of the miners are virtually owned by their creditors.
Supply and demand. Once the newly rich Chinese and Indians Run out of money and the miners catch up and surpass demand, prices will plummet.
20 years of calling the market like I 'wrote' it myself. How to get banned from zerohedge? Speak the truth. My old account; 'withcaution'
You forget that there is an infinite supply of paper and paper price is tied to physical price. Otherwise, wait...no...your post is still just nonsense.
This is the deflation before the inflation when all the rich rush into these PM's. I'm buying with both fists now.
Update: “Efforts to further increase transparency, no matter how well intentioned, must avoid unintended consequences that could undermine the Federal Reserve's ability to make policy in the long-run best interest of American families and businesses,” she said.
http://thehill.com/policy/finance/247970-yellen-urges-congress-to-be-war...
Thanks Ole Yellen!
Excellent job of "wash trades" in FX and commofity 'markets".
$14.00 silver...come on Mr. Yellen, you can do it! You will see dozens of trucks all driving in reverse. And dozens of poorly maintaned boats being moved to docks at remote lakes.
Is anyone aware of a similar situation in history where a paper/electronic marketplace has been used to push down physical commodity prices to this extent? What eventually happened? (e.g., price is depressed to point where physical stops trading, or what)?
Now, will Germany get it's gold back .... in less than 8 years ? LOL
Queue the "paper" versus "physical" morons.
It can't be any other way now, but sideways or down. There is no 'up' - at least, not for any sustained period. With all that is going on geopolitically, combined with with an undercurrent of fear and anxiety about a so-called 'recovery', a downturn followed by a fresh round of asset purchases by the Fed, would (Will) essentially tell the U.S. - and the world, that there is no way out...
But there's something different this time around, that didn't exist in 2008/2009/2010/2011/2012: The AIIB. The Russian situation. The instability and waning confidence in the U.S. from Saudi Arabia. The massive amount of gold accumulation by China, India, Russia and even the Middle Eastern nations. The U.S. can no longer do whatever it pleases with its currency and expect no push-back. Not now baby --- The stakes are now up there in the stratosphere, whereas before it was 'F-you, we Rule'...
The beautiful part is that the Market will have the final word. The more naked shorts being shoved at this, the more extreme the result shall be when the SHTF.
I added 100 Oz Ag yesterday and paid fiat cash for it. Said cash will become Monopoly $$ and this was a GIFT. I haven't lost anything at all as the Fat Lady is readying for the show now.
Is there still weak hands out there holding PM? I doubt it. So this is just an exercise amongst the manipulators in an effort to keep the uninformed relaxed and pliant.
They'll get it lower before any rate hike.
These "Paper Prices" for the PM's are actually completely irellevant and should be regarded as such!
I was just looking at the APMEX Website and their "Buy Back" price on the 1 OZ .9999 Pure $50 Gold Buffalo is $1,173. Their Sale Price is at $1,210. To me, the price of gold is about $1,190, the average Price of a Bought or Sold OZ of gold. The COMEX price of $1,148 is meaningless.
It's Really Just That Simple, no?
For people trading and spending cash in USD Gold may not be the best option. Yet.
For smaller nations like mine, here in Norway, the price of gold in Norwegian Krone has been stable even though in dollars gold has been falling. Weaker brent crude forces the NOK to weaken against USD. So, even though the USD has been at $1205 recently and is now trading $60-70 below that, in NOK gold is actually still slightly higher at $1145 oz. then at $1205.