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This Has Never Happened To Gold Before
For the first time since records began, hedge funds are net short gold futures, according to CFTC data...
This is what happened the last time gold saw a 'low' net long position...
Is this why Gold is spiking this afternoon?
Squeeze...
Charts: Bloomberg
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Dumping paper gold. Makes sense to be.
then this is the bottom.....at least it smells like a bottom in my miner portfolio
Please short MOAR!
CFTC data is also part of gold price policy.
Whats the value of a contract from a known Liar?
There in lies the rub..does it go to 0?
RIPS
The COT reports have been looking "bullish" for 3 years... we're just on the cusp of huge commercial covering.... well, what's a trillion between friends when you control delivery and the COMEX?
Who needs gold when there is bitcoin.
Who needs bitcoin if there's an EMP?
lol
lol....thats your shortest post in two days chumbawamba. after the dust up with the hate calif. posters yesterday. well worth the read! easy to see your fustration with the nimrod, we hate everything crowd, I feel the same way. you're also correct in that the tylers seem to feed these beast and their dislike of everything. next time i will just grap a drink, pull up a chair and drink to your health.....lol
;)
No, gold spiked due to HUGE optione expiries at the COMEX close, 1100 level.
“Who needs bitcoin if there's an EMP?..”
Keep a cold machine or two.. clueless non-security aware F.
Pop Quiz.. how many dark blades are on racks in Bluffdale?
“who needs a barbarous relic”
a little might make a nice hem weight and keep the ladies skirts nicely ..straightly hung.
Y'know I really don't like getting mad at the trolls.. but Mesh will put you all out.
eat it Munger…..
Who needs bitcoin if there's an EMP?
Welcome to Fightclub bitch.
Wanna see something really scary? Google Jim Garrow and EMP.
Canadian Womens ! I luvs Canadian Womens ! You're right, at least partially; but don't spoil their ignorance party; they were having such a good time pretending to understand something they never studied.
BTW, Chumbawamba, I read through a large part of Errant Soverign book and the listened to the podcast link.
Holy shitballs.
Quite eye-opening, eh?
Try this for more fun:
http://creditorsincommerce.com/videos-watch-cic-lt-001
-Chumblez.
Chumblez, I think you are pissing up a rope of that one. The timeline is all wrong.
Se non e vero, e ben trovato.
Gee, do ya really think some may awaken from their slumber and realize why Greenspan was knighted? Nah, don't think so.
Errant Soverign by blackstone , do you really think the leagle system gives a fuck anymore.
In case you were not clear on that the leagle system say do as we say or go to jail , if you do not we will SWAT you slaves , in America you are one of two things 1, a 14th amendment citizen , that means you are a slave black or white or 2 you are a enemy of the state under the trading with the enemy law and yes we live in a battlefield and are still under military rule since the civil war because the treaty of peace was never sigined
You are 100 % correct Abit. You know who also NEVER surrendered and also never signed a peace treaty ? The government of the Confederate States of Americia. Most of the Southerm military armies surrendered, but the government of the CSA never did. Interesting indeed ..
Who needs gold when there is a supernova.
Oh, of course an EMP is just around the corner.
Delusionalists
Technically speaking, gold is made from a supernova.
I'm not yet ware of what supra natural force of nature creates Bitcoins.
I'm not yet aware of what supra natural force of nature creates Bitcoins.
Love and puppies?
I know, that's why gold will be worthless due to massive inflation of gold during supernova.
Delusionalists
Who needs Bitcoin when I can write a crypto currency program called Shitcoin?
Don't bother. Crowded space. There's already TitCoin, PotCoin, ZeroCoin (a name fit for all cryptocurencies), etc.
https://en.wikipedia.org/wiki/List_of_cryptocurrencies
Hence the number one, of several bitcoin problems ... no barrier to entry.
...and number two, not enough girth to take advantage of the situation.
Are you people retarded?
Those copycat clone shitcoins are neither secure nor trustworthy. Stay away, there is only one true god.
my point exactly
Guess what, there are already 1000.
Just like there are few other shiny metals.
A shitcoin hustler calling others delusional. LMAO!!!
Someone creates unknown digital currency, sells it to idiots, and I'm supposed to buy in because it's worth something.
Who need Gold or Bitcoin when there is Plutonium dust in air ?
If there was an EMP blast that rendered all electronics and internet useless you wouldn't survive long enough to be able to use your gold.
Yeah? And why would that be?
Dude, if your intention is to support the bitcoin crowd, you are really doing them disservice.
Everything you utter on ZH is a steaming pile of incoherent bovine excrement.
Unless you live in the woods or in the mountains you would have a hard time getting food or water without our current system of e-commerce. I mean, you could just take it from there.
In most parts of the United States food has to be shipped in via Truck deliveries 24/7. Without these constant deliveries of food people in cities would starve to death.
So you better pray that nothing like an EMP happens because if it did it would be Armageddon, and you would probably get killed for your PMs, in people even knew they had any value.
The problem with PM worshippers is that they aren't realistic about the world that they live in. With pure arrogance and naivete they think that they can just pull out their bars or coins of gold or silver and go down to the local store to buy bread and groceries when TSHTF. It just doesn't work that way.
I use to own silver. Do you know how hard it is to sell silver outside of the Internet? Have you ever gone down to the Diamond District in NYC and tried to sell your gold or silver? I have. It's not pleasant and it's very easy to not get the proper value for your coins. You have to do shady deals in back rooms, and then you really see the depravity of bartering. You come off as a desperate person to the buyers.
Bitcoin, on the other hand, has established markets and exchange centers. It's becoming easier and easier for me to exchange my bitcoins for fiat currency thanks to new services backed by reputable parties. I cannot say the same for gold and silver.
You're right.
My food and water a delivered by e-commerce.
I'm printing 500 gallons of water from Amazon Prime as we speak.
@ Bitcoin Meiser
What a croc of shit. Yes, I have personally gone to the diamond district to buy and sell gold and done just fine. If you're scared of dealing with little orthdox jewish men in back rooms (and yes, that's how it works) then just stick to your shiny banks with their suit and tie minions like the rest of the neutered public. As far as not being able to sell it for food, it does require one more step, at the pawn shop, where any owner will pay $20/silver eagle even with spot at $15. THEN you go to the supermarket.
Maybe YOU came off seeming desperate, but that just means you suck at barter. That's not gold's fault.
Ok, if you can put up with that BS go for it, Desperado. I admit, I don't want to have to go to the town, deal in back rooms, have the buyer tell me know my coins are not worth as much as his, and then have his assistant beg me to make sure she gets the credit for bringing me in...just to get a freakin' roast beef sandwich.
I am willing to bet that most of the 7 billion people in the world are like me, so have fun being the lone wolf in the group.
I am willing to bet that most of the 7 billion people in the world are like me
Yeaht that's what I'm counting on.
When the blackout of 03 happened, NYC was a shitshow, and that was a day and a half. Miles of parked cars that ran out of gas on the street, supermarkets shut down, no ATM's, and if it would have lasted any longer than it did all hell would have broken loose. So this isn't some doomer-prepper fantasy, shit does happen, and those who aren't ready get screwed. I was lucky enough to be carrying cash and some chronic, which I bartered for a ride home, and that would have been impossible with a credit card, bitcoin, or anything like that. If things got worse I could have trade my gold watch, or some of my 30 day supply of food, water purification tablets, or toilet paper. Toilet paper is the best fucking currency in the world when things go bad. After more than 3-4 days without electricity, even cash becomes useless. That's why we prep. That's why we own gold and silver. When the lights go out, and they will, what is useful and what is not becomes quickly apparent.
Your food and water IS being deliverd by E-commerce. How do you think those shipments get to Walmart and Costco? EMP blasts would affect motor vehicles also, so trucks would not be able to ship food across the country.
As for this statement:
"I'm printing 500 gallons of water from Amazon Prime as we speak."
Yeah that sounds silly. It's as silly as saying:
"I'm going to be able to buy my water using gold or silver."
My point is, if there was an EMP blast owning gold or bitcoins would not matter. You would have much bigger problems.
Wrong crowd. Try the WaPo.
Wear fur.....they love that.
In a SHTF episode, my food and water is delivered by a backyard garden (5 acres carefully cultivated over a decade), chickens, honeybees, shotgun, rifle and a water well. The demand for barter will be very high, the demand for bitcoin will be predicated on electrical power restoration.
Mister Oh So Technical is now reduced to spreading urban myths. The fact is that only newer vehicles in the general blast vicinity would recieve enough flux energy to permanently damage controls. The overwhelming majority of vehicles will be sufficiently shielded by their shells, especially if they are not running at the time of the event. Now YOUR fragile technology on the other hand...
I'm printing 500 gallons of water from Amazon Prime as we speak.
I have a few "Instant Water" franchises available, but you must act now! The product comes in 1 gram paper packages. Empty it into a glass, and just add water!
Viola, "Instant Water"!
Instant Water franchises can be issued through distributers subject to underwriting discretion. Delivery and prices can only be guaranteed through 8-31-2015. Instant Water samples ship without obligation within 30 days of receipt in most states. Rates as of 3-31-2014, are subject to change. Instant Water in Florida provided by Bleached Yellow Snow Enterprizes,, licensed distributer. Advertising compliance# (_|_)
If you are having a hard time selling silver and gold coins..you are an idiot. .Never had one problem always got 90 percent or more of of listed value for sovereigns, Morgans or junk silver which blew my mind. I live in asmall town withntwo coin dealers who,pay cash never quibble and i buy from them. If you are in the anew ayork area trying to sell ...go elsewhere. If you are selling on ebay ..you are getting hosed. Try reputable dealer even JM Bullion or Apmex...orvsomeone like Atlanta Gold and Silver coin..they pay the shipping or reimburse you. Bitcoin is nice if you really believe the computer system is never going down or that govt is not going to screw with it, If bitcoin is your obsession okay by me..but if you are having trouble selling silver or gold its your fault..you have enough imagination for bitcoin but cant figure out how to sell your silver..pathetic. No one thinks they can exchange silver bar for food ..at least not at first..but ask those who lived through WWII how handy gold came induring and after..bitcoin unless you hook up with someone who,will take it in exchange for goods orbwhatever passes for a medium of exchange..I doubt anypne but a few bitcoin geeks are going to know what the hell youmare talking about...goldband silver have alwYs been a medium ofvexchange ..along with food, tradeable goods, luxury items, liquor, coffee, spices, etc. Bitcoin is going to only be useful if electronic systems never go down.
Ok now I am enlightened. My PMs will not be exchangeable if there is an EMP event but bitcoins will be safe. Phew, I finally have found a morsel of wisdom on ZH after all these years.
Miffed;-)
There wont be an EMP event. And if there was you would not be able to get to "The gold store" to do anything with your gold. I promise.
If there is an emp or a currency crises;
Yes it's true you cannot go to the store and trade gold for food.
Yes it's true most sheep don't know what gold and silver are worth.
Yes it's true most sheep don't even know the difference between Fiat Currency and Money.
BUT SOON AFTER AN EMP OR CURRENCY CRISES ALL OF THE SHEEP WILL KNOW WHAT GOLD AND SILVER ARE, WHAT THEY ARE WORTH AND THEY WILL EXCEPT THEM FOR TRADE EVERYWHERE.
Read this book - http://www.amazon.com/One-Second-After-William-Forstchen/dp/0765356864. PMs aren't gonna be that useful or rare. You can pick the jewelry off all the dead assuming of course you are vertical.
That book is entertainment fantasy, you do realize that, right? In Alas Babylon, everyone died from radioactive gold, so you can always run with that one next.
They also died from radioactive canned food.....so stay away from that.
bitcoin is suseptible to hurricane and earthquake events. not just EMP.
Bitcoin is also susceptible to total Government control, with no electronic black market escape. Heck, it hasn't been proven yet that the Gov isn't the initial nexus of the project. The concept papers are certainly there.
How did the guy at silkroad lose all his bitcoins to the feds? All his coins were seized by the feds and liquidated!!!???
I'll give you 3 cents on the dollar for your bitcoins.
Limited time offer.
Take it or leave it.
I have NO PROBLEM with owning BOTH, my coins are in COLD STORAGE, out of the system. If I wanted to I could keep them in my head, but my memory is not the best so I do keep them in physical form. I personally like being diversified.
My favorite is food, water, guns, ammo, MY FARM that is fully stocked. I could go on but I think you get the idea.
I use to own silver. Do you know how hard it is to sell silver outside of the Internet? Have you ever gone down to the Diamond District in NYC and tried to sell your gold or silver? I have. It's not pleasant and it's very easy to not get the proper value for your coins. You have to do shady deals in back rooms, and then you really see the depravity of bartering. You come off as a desperate person to the buyers.
welcome to the reel world of business post shtf... obviously you never traveled outside of usa.
i suggest you to go for a couple of months in deep africa, you will realize you still have nice " backrooms" in usa.
btw all you full mental electronics are pointless based on a futur off grid system, since after the inability to keep liquidity over the ponzi scheme of the ex nihilo vaccump pump of money, the 1st big structural synstem to get the fuck out after cash is electricity.
Those who can afford it will always have electricity, and that's the reason we buy gold.
There won't be chaos, just unbearable hardship and misery for most of the population.
The fun is, within a year we look at $5000+ prices per bitcoin.
They will buy coins from us, because they capitulate.
Lol.
Fonestar is that you?
It never ceases to amaze me, I try and tell the kiddies that TPTB actually want all currencies to be digital and what do they do...they "rebel" against me and promote digital currencies.
What the hell are ya gonna do, kids...lol.
TPTB also wanted to ban encryption, would do it if they could. This tells me they don't control the digital realm as much as they want to.
Personally, I think its a double edged sword for them, they like the idea of knowing what everybody's doing & saying, however they really don't like what people do & say.
The statists conundrum...lol.
It's like trying to explain a computer program to a neandertal, but I'll try.
Bitcoins can't be arbitrarily created, and when properly protected, are as hard to steal as nuclear launch codes. This is because a bitcoin isn't a thing in and of itself, but rather an entry on a public ledger, of which there are millions of copies floating around, including copies in radiation sheilded bunkers.
The difference between that and a currency of the type a government would want to install is that you can't arbitrarily issue bitcoins to devalue existing ones, and they are semi-anonymous.
The main advantage that bitcoin has over gold is it's portability. It exists anywhere and everywhere where there is a copy of the blockchain. An EMP won't do anything to your bitcoins, and when you flee that wasteland, your bitcoins will be waiting for you in your new home. You don't even have to shove them up your ass to carry purchasing power across the border of a hostile/corrupt country.
Stupidity is precondition for arrogance.
Bitcoins can't be arbitrarily created. But, competing cryptocurrencies can be created ad infinitum: Dogecoin, Zerocoin, Blackcoin, Primecoin, Mastercoin, Potcoin, Titcoin...
The main disadvantage of cryptocurrencies over gold? They are NOT REAL!
One thing BC is good for, for the time being is last minute escapes from capital controls. I say last minute escapes, because even better is to see the controls coming and get out of the way.
Another potential disadvantage: what if the PTB decide that only one currency will be accepted for all transactions, and anyone using anything else are declared criminals? They can't claim those bitcoins, but they certainly can use the NSA to determine who has been doing bitmining and take it from there.
So? Is gold less valuable because there are other elements? The sum total of all the other cryptos is like 10% of the BTC market cap. The top 5 cryptos are like 99% of the space.
If bitcoin isn't real, then your computer's OS isn't real, nor is your internet connection. Please stop spending money on them and buy gold instead.
The problem is.............if you want my chicken it'll cost you a silver coin - not a bitcoin.
exactly.
Colddirt +100
I like the idea of Bitcoin but my reality is I'm not running anywhere, and the rancher down the road has never heard of Bitcoin, but he does like gold, silver and whiskey.
And if you want me to ship you a water filter, it's going to cost you a bitcoin. You going to send your silver through the mail? Your neighbors selling water filters?
The .gov has way faster computers than any bitcoin miner or user.
They can crank bitcoins out faster than you can check them for authenticity.
just like anything else. They will wait until the funds get significant, then they will take it all for their buddies, inlaws, and supporters.
You just make stuff up dont you ..... no one has computing power that exceeds the free market miners of Bitcoin.
And on a technical level, by design, finding a new block (mining) requires orders of magnitude more CPU power than verifying a block. That is a mathmatical property of a hash function - a one way process.
Your comment just publicised your technical incompetence, and shows that you have not even done the basic research needed to understand Bitcoin.
Try criticizing Bitcoin for actual issues it has - not bullshit ones that you just make up.
Tmosley, you are a hasbarat shill, your mother was a hamster, your father smelled of elderberries and I fart in your general direction.
Anyone seen "The Road To Perdition"? I feel like Connor at the wake scene. Why am I always smiling? Because it's all so fucking hilarious.
Even the "alternative media" is full of shit. Keep Calm and Stack On, also, fuck Israel.
Sorry you don't like that I correctly identify Nazi economics as Keynesian and therefore inferior to free market economics.
It is funny you mention that, a local sailboat is already offering refugee rides in exchange for bitcoin. Just early I guess....
TPTB certainly want people forced into digital currencies.
BUT - they do not want people using any currency (digital or physical) that they do not control.
Bitcoin looks like an experiment that got away from them. They certainly do not control it, and can not suppress it like they did with e-gold (a predecessor). They are trying to co-opt it to influence it.
I still get surprised at the vehemence and hate of some gold bugs, against Bitcoin. It is just an option. Unlike fiat currencies, no one is forcing you to use it. [fiat = by decree]
Bitcoin is an option for diversification, that works just fine while the complex systems that we rely on it many other ways, are running. Gold/Silver work fine too.
You see people posting the same old rubbish arguments against Bitcoin, most of which are rebuffed logically on the Myths page of the Bitcoin wiki ... and no presentation of actual problems (that do exist) with Bitcoin. Scaling and performance issues being the current hot button. That indicates to me that lots of people are too lazy to do real research, and just blast whatever comes to mind that suits their prejudices.
Read the old posts by DCRB - he did actual experimentation with Bitcoin and reported on it. His conclusion: It works, has some use cases that fit very well, and it is complementary to Gold/Silver - not in competition.
Here is another aspect that you might like to chew on.
All the fiat digital currencies are inflationary. That is: they are continuously debased by QE or printing to fund politicians/wars at the expense of savers.
Bitcoin and most of its clones, are deflationary by design. They are inherently good for savers and bad for politicians and in that sense are modelled on Gold.
So we are seeing a competition in economic ideas with digital currencies.
Mandatory use (fiat), inflationary model, identity tracked, versus, Optional, delationary model, privacy oriented.
Each approach suits a different group of people in the community.
The 1% and their acolytes, get huge benefit from fiat, and they understand that advantage.
The 99% get benefits from the long term stability of the deflationary model (Roman era example with gold and silver shows that) - but by and large have no comprehension of shearing they are getting under the fiat system.
Which model will gain the upper hand? Especially since the fiat model is now entrenched....
I do not know, and I will be dead long before any outcome is obvious. In fact the outcome may simply be an equilibrium or stalement situation.
"I still get surprised at the vehemence and hate of some gold bugs, against Bitcoin. "
As an impartial observer (i own neither gold nor BC) I'm more surprised at the persistence with which BC bugs try to make their case in clearly hostile forums. It begs the question: if BC is all that good, then why the hard sell?
As a trader, if I see a trend develop I just get on board. Talking my book I find distasteful.
Why the hard sell? Because a very small number of people hold a disproportionate share of the total amount of Bitcoin, and stand to make a huge profit from a rise in value (in dollars or other currencies).
One way to see this is true, is to note that the same people pushing Bitcoin are dismissing the other altcoins as being worthless junk, and claiming the original Bitcoin is better, without providing any real reasons for this belief. If they were actually championing the technology, they would not try to promote Bitcoin over the alt schemes, but since they have money riding on Bitcoin specifically, they trash everything else.
Bitcoin is best viewed as a penny stock, with the usual collection of promoters. But unlike the penny stock of a company which may in the future provide a useful product, Bitcoin represents nothing, and never will represent anything but the long-gone wasted energy needed to compute the magic numbers it is based on.
Who needs bitcoin when there is TWTR and FB? Idiot.
OK i just need to keep repeating this, hey I understand bitcoin is a bunch of zero's made out of thin air but my god its freedom you zerohedge pm guys are more religious than an environmentalist and a conservative Christian put together. Let me remind you WE ARE IN FAVOR OF FREEDOM AND OF ALLOWING ANYTHING TO EXIST AS LONG AS IF IT FAILS IT IS ALLOWED TO HAVE TO DEAL THE CONSEQUENCES OF ITS ACTIONS!
Please vote for freedom does not mean you need to use them but let the individuals decide what they want in a free market.
Fuc!
I would never deny someone the right to play old Bob Dylan tunes in front of the liquor store, if that's all they've got.
OK i just need to keep repeating this, hey I understand bitcoin is a bunch of zero's made out of thin air but my god its freedom you zerohedge pm guys are more religious than an environmentalist and a conservative Christian put together. Let me remind you WE ARE IN FAVOR OF FREEDOM AND OF ALLOWING ANYTHING TO EXIST AS LONG AS IF IT FAILS IT IS ALLOWED TO HAVE TO DEAL THE CONSEQUENCES OF ITS ACTIONS!
Please vote for freedom does not mean you need to use them but let the individuals decide what they want in a free market.
Fuc!
Would someone please explain to me how the feds were able to seize all the bitcoins that the guy from silkroad had? How does this make bitcoin any different than a reg bank acc?
He stupidly had his private keys stored on his laptop which was seized (screen up, unencrypted and running) from him in a public library. Had he used a brain wallet, hidden his private keys elsewhere, or even had the opportunity to shut his laptop before the feds snatched it from his hands he would have been fine. Alas, he did none of those things. Also, you can admittedly *beat* the bitcoin out of someone, coercing their password out of them, etc. (unless your private keys are stashed far away), but I could say the same for gold and cash.
Gold bugs remind me of the single color Roulette gamblers.
Bet Red - Hits black
Bet Red - Hits black
Bet Red - Hits black
Bet Red - Hits black
Bet Red - Hits Red
See! TOLD YA IT WOULD HIT RED!
More like those who bet on 00 on a modified game where 00 pays out 10000:1. Seems like a bad investment the first 30 rolls.
Well, if you look at the last 10 (20, 30,...) years it looks more like:
Bet Red - Hits Red
Bet Red - Hits Red
Bet Red - Hits Red
Bet Red - Hits Red
Bet Red - Hits Red
Bet Red - Hits Black
Bet Red - Hits Black
Bet Red - Hits Red
See! TOLD YA IT WOULD HIT RED!
You remind me of a young, rather likeable dude whose motto was "risk a lot, play hard, die young". Unfortunatelly, I can't recal his name... He died young.
Doubt it. Going down below 1000.
optimist, and good luck taking delivery if it does...
Given how practically no one (some of the people on here but that is a small fraction) in the population understands money and gold, you'll be able to take delivery below $1000. Thank your lucky fucking stars while you do.
Maybe - but though you be taking delivery, premiums will be increasing accordingly.
SheepRevolution,
Your post was the most detailed summary of the gold market I've observed this year..
CONGRATS WE NEED MORE LIKE IT.
Hands down, the myraid analyses that have said "now is the bottom" are waaaaaay better - ha ha.
Thanks
So is now the time to buy APPL?
Probably not. http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=appl&ins...
People have stopped mistaking it for http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=aapl&ins...
All the Apple Watch Edition series sell for $10,000 plus and use real gold. What makes it worth that premium price? The Apple brand or the gold? Go(ld) figure. LOL.
http://www.apple.com/shop/buy-watch/apple-watch-edition
No it's time to buy Amazon hand over fist. After that, some Netflix. Totally undervalued.
I'd be okay with that. That's the problem with us stackers. We are resilient. The longer the prices are manipulated downward, the more metal we acrue. When the spring breaks and the price adjusts to its market value, us stackers will have a great opportunity to dosomething with that wealth.
Like buy a loaf of bread with it. Or find that no one wants to deal in gold so you have sell it for shit to get cash. Or we go Mad Max and find out the exchange rate is gold for some copper jacketed lead. Who knows. Except that if it goes moon shot, the world will also be on fire.
Is plausible that along the way it could go up some reasonable (really kick ass) amount at which time it make sense to (gasp... omfg) sell some to weather the storm which might mean stocking up on something else, moving (to the extent of bribes if necessary), etc. Again, who knows.
1000 years from now, archeologists will be finding little backyard stashes of silver eagles and gold maple leaves, just like they find old roman coins today.
Keep on stacking. The worst you can do is become a part of future history.
Nah, they'll be digging up bitcoin wallets...
Last time I checked, the Plunge Protection Team wasn't manipulating the price of bread.
the price adjusts to its market value
Market Value? What does that mean?
Every positive value has its price in negative terms... the genius of Einstein leads to Hiroshima.
Pablo Picasso
Golds been brutally faced kicked in 2015; I can see it at least getting up on one knee to reach for $1300...but if one knee is all it can muster, going into 2016 isn't looking good.
If the average person doesn't "get in on the action", then the price (of any commodity) isn't going anywere significant.
Locally, furniture stores have resorted to 0% interest loans just to sell a fucken couch...people are broke..and when they have money, gold is not high on the shopping list...if it's on the list at all...which I doubt.
True ... Gold is not for the people with no money. Gold is for those with load of cash and that's the type of people buying Gold like never before.
Most likelly the majority of the people does not buy the lattest 6' iPhone, that's why his market share of Apple smartphones worldwide is below 10%. Yet Apple market cap is huge ...
People might move gold mining stocks when it gets hot, but to move the gold market, that's central banks, governments, mega-pension funds, etc. It will move when the bond market gets dicey, especially the American bond market.
Trolls are to be expected, but the quality of the current crop that has infested ZH is very disappointing.
When you say things like "Golds been brutally faced kicked in 2015", you are revealing that you haven't the slightest undestanding of the topic.
In other words, you are myopically viewing gold only through the prism of the U.S. Dollar.
I'll continue to post this simple illustration as long as the mistake continues to be made:
Although it has declined in USD about 6% since I crunched these numbers on July 4, they still illustrate why thinking about gold only in U.S. Dollar terms is a mistake, and often used for propaganda purposes.
The percentage change in the value of gold against these currencies for a two year period ending on July 4, 2015:
Euro +11%
Danish Kroner +11%
Japanese Yen +18%
Swedish Kroner +20%
Norwegian Kroner +22%
Turkish Lira +29%
Brazilian Real +37%
Argentine Peso +58%
Russian Ruble +62%
Ukranian Hryvnia +140%
suckers rally? what about 1200, broke that with same action to 1100. just sayin
because, paper contracts can be dumped fast and furious and below 1080 to 1045. just sayin again.
don't know where this manipulation goes, but i seriously doubt it's over...
powder still dry
physical assets galore, no gold. just not compelled to take a serious look yet.
we still haven't got the stock liquidation that causes the real dump.
margin calls til beach littered with naked corpes...
blood washing up on the shores, ha.
almost time, but not yet. Expect at least one more smack down with no follow-through
Nope, we won't reach a bottom until we reach the vomit stage.
I've already cleaned up one mess..., there's more?
Barry wants to leave Merikans with just one moar Legacy; the worse Middle Class depression since 1929, and the Fattest Bankers since 1929.
" Yes he can! "
Yes, I puked some time ago.
Or until Comex runs out of phyzz...
http://www.cmegroup.com/delivery_reports/Gold_Stocks.xls
Current Registered: 482,778 oz
Current Eligible: 7,437,555 oz (LOLOLO!)
The withdrawals will continue.
They'll work some deal with SLV, JPM, or Silver Wheaton, or pull it from their ass and cash settle.
Gold spray paint and some lead.
-Chumblez.
I thought you were supposed to spray paint tungston?
I have to agree with you there. Way too many letter writers saying we have reached the capitulation stage. I don't think we have seen anything yet. And for those that say that supply will be unavailable when Gold is below $1000 - Gold was being sold for $250/oz. on eBay when the comex price was $285. That's a fact, as I personally bought quite a bit of it. When Gold finally hits bottom, many people here will be so disgusted with their losses they will swear off ever purchasing another gram.
And speaking of bottoms, if this drags out for many more years, a large proportion of stackers today will be dumping their holdings the minute they are close to breaking even on any subsequebt rise of the PoG. This will in itself slow any appreciation in the Gold price, as the strong hands today will become the weak hands tomorrow. Such is the nature of true capitulation.
Who was the idiot that sold gold to you for 10% under the spot price? Sounds like a fish tale to me.
People who paid big bucks for Olympic Gold coins in 1976 were dumping them on eBay for under spot. The owners were happy to get close to spot price, as nobody wanted them, and the pawn shops would only give them 60% of spot - so 90% was not a bad deal to these sellers who were either disgusted with their losses, or had inherited some Gold coins that NOBODY had any interest in buying.
That, my friend, is no fish tale - it is the mark of the true bottom.
well ok then. But tell me, HOW WILL TPTB resolve the debt issue?
Jubilee slaughters old money families - not gonna happen
Hyperinflation? with the overproduction of global industrialisation the extent to which they have to accellerate the monetary base leaves them totally unable to control the pace and asset allocations to which that hyperinflation affects
We are now at the point where a gold reset to $10 k plus is the least destabilizing option for both social unrest AND the oligarchs capital legacy
Well I don't have a crystal ball, but I do have a guess. I see China, and Europe as being closer to disaster than the u.s. If these two regions begin to see serious financial difficulties, where do you suppose they will look for help? When the whole world is rushing to u.s. fiat dollars as their saviour (as in the Asian currency crisis), the u.s. dollar is set to rise once again, and the american empire will expand even more as vast portions of planetary population become beholden to the Fed. This may all take place in the guise of IMF assistance, but it will essentially be the Fed coming to the rescue of an insolvent Europe and China. In such a scenario, the u.s. debt problems will be entirely ignored or dismissed. King Dollar will rule!
The only wild card in this scenario is Gold. If China and Europe announce an explicit connection of their currencies to Gold, then I think it will be the u.s. that crawls to the Great Continent hat in hand.
Or we could just continue to muddle along for a few more decades of can kicking - who knows.
where do you suppose they will look for help?
Oh, so you missed that story where China already has some 3T+ and is selling their US treasuries...
If the Chinese sell their UST's, long rates will rise which (in theory) should make the US borrow less.
However, China's problems are like nothing compared to the US.
China makes stuff the rest of the world wants to buy.
Like the UK (until 1930's), like the US (until 1950's), like Germany now.
So, even if they have stock market crashes, bad banks, etc., my money is on Germany and China.
The US now is like the UK in the runnup to WW2: very powerful in an absolute sense, but in strong relative decline.
And clinging-on in part because of the influence of an over-large MIC.
Watson
"it is the mark of the true bottom."
Just like the mark of true top is when "Cash for Gold" stores are in every shopping and strip mall...and a RED FLAGS AND SIRENS TOP is when "Cash for Gold" businesses travel from town to town setting up shop in hotels.
..and when I pointed that out here back in 2010, I was savaged as everyone "knew" gold was going to $5000 or $10,000 an ounce...fools.
traveling cash for gold shop came to my town...local media with the help of coin shop took in a rare gold coin worth ~$5000...they were offered $50 for the coin...saying it was a very common coin and was only gold plated...
Oh, well by all means, gold is a worthless relic because some scumbag con artist was trying to scam a coin from someone. LOL. That prolly made sense in your head.
Have you looked online? The places I look at aren't delivering the lower marked up metal until sometime in August. Preordering physical metal sounds whacky to me. Sure you can get physical metal, but its not near the spot price like say a week ago. So the price is nearly the same with a greater percentage markup. Its interesting to watch what's going on.
Some of the metal forums appear like the posters are collecting this stuff like rare beanie babies, art, comic books and baseball cards. Not really for the pure gram/ounce/kilo of gold/silver/whatever. Which is why I mention getting physical metal at near spot prices. I would rather have a fire poker made out of gold spray painted black then some rare proof elephant coin.
I agree.
Gold was in a bubble (just look at the graph objectively), got to around 1,800 and popped.
When a bubble bursts, usually get 1/3 off the top quickly (levered players being cleared out), and
another 1/3 from the top over time.
The only thing different this time was that the last guys in weren't levered (Central Banks).
So the 2/3 off in total takes a lot longer (eg political problems selling at a loss).
And 2/3 off is only an 'average' bubble.
The Nikkei did 38,000 -> 8,000.
I do think there is a disaster coming - but from a gross excess of debt, not inflation.
Which is why I think the smart money is in cash, small bills held in physical form, secretly, outside the banking system.
Watson
gold can get in a bubble, true
but if you think gold bubbles behave the same way equities do yer a chump. TPTB urge on equities all the way - even after the top. gold is reigned persistently
that said, im not disagreeing that a healthy allocation cash is a good option
A family member told me about the run on one of the banks they used, Indymac. Depositors lost a ton of money in that Countrywide spinoff scam. Did that ever really make the news? Its now called Onewest bank. Obviously not. I know a bit too many people starting to hide, hidden compartments, different denominations of cash for a rainy day. And they think I am the crazy one.
In my business I work on plans. And you wouldn't believe what people are building, well hidden in the plans. Only a couple of engineering disciplines would notice this stuff too. Multiple escape tunnels, safe rooms, who knows what else this is for, people are very paranoid about something. I didn't want to get involved in some of these things because jeez I wonder if someone else is going to come to me asking questions when TSHTF.
The oldest house in the little New England town I grew up in had a hidden safe room for when the Indians showed up to get some payback.
"Gold was in a bubble.."
that is a really dumb statement...
please provide the notional "paper price" value of all the above ground Gold mined that still exist in private and institutinal vaults today and then tell me the notional value of all "paper" investment vehicles or derivatives thereof that r in the quadrillions just to give u a head start....
and then tell us the percentage of paper assests owned by "investors" relative to the percentage of PHYSICAL GOLD held by same "investors"....
then tell us again, "where is the REAL bubble....?"
typical bullshit propaganda...
dumb.
ps: Federal Reserve Notes aint fucking money....
dumb.
If Gold was in a bubble, you would not be seeing the hardships from gold miners. The reality is that the with the current fiat bubble the minning costs are very close to the spot price.
Which means its not the gold that is inflated but the index used to value it.
Production cost (of anything, not just gold) unrelated to market price.
If you can produce below market, you take your profit and live well (possibly very well).
If your total cost of getting it out of the ground, processing and refining to standard is above market price, then you will lose money.
If you do this for a while you will go broke.
If your business is full of debt you will go broke that much quicker.
If there was going to be hyper-inflation, we would already have had it (ZIRP for how many years?).
In practice, all that has happened is that a huge amount of debt has been rolled up and added to,
resulting in a debt juggernaut whose ultimate implosion will make the 1930's look tame.
Watson
Silver is like a bullet in this market. Its already hjit TPTB between the eyes. When silver can't be delivered that's what will collapse the trust. It will free gold and put a wooden stake in the Dollar.
having lost 98% of its purchasing power since 1914 its already got a stake thru it...its just a dead man walking....
i just got back from running errands...
saw people dumping old matresses and Silver Eagles under the overpasses...
shits getting bad.........
lmao
Which overpass? I'm going to leave work early to go help out some of those homeless people. No reason they should have to put up with litter like silver eagles. I'll make sure the homeless eagles have a home.
And old mattresses, oh boy!
lol and they say you cant create gold. thanks for the laugh.
The homeless are starting to build under the LA overpasses. Alvarado under the 101 has stick framed obamavilles.