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"Western Central Banks Have Set Us Up; You'll Hear The Printing Presses From Mars"
As Marc Faber said at SocGen's January conference, if he could short central banks directly he would do so, but gold is the next best thing; and despite it being sucked into the general commodity malaise, Albert Edwards says "Gold is a must-have holding in this world."
Via SocGen's Albert Edwards,
The Chinese have clearly shown investors that using Yoga-like mind games (or indeed loose money) to elevate the stock-market will end in tears.
This is undoubtedly a global story and I have not one scintilla of doubt that the western central banks have set us up for an even bigger version of the 2008 Great Financial Crisis/Recession - but this time rock bottom interest rates and large fiscal deficits will mean only one thing; QE will be stepped up to such a pace that you will hear the roar of the printing presses from Mars.
Gold is a must-have holding in that world.
Gold bulls will cite the 1970s experience as to why they are not worried about the current slump in the price, which many see continuing to $900.
For after rising some 550% between 1970 and the end of 1974, gold suffered a 50% retracement from $195 back to $100 before its 9-fold surge from 1976 to 1980 from $100 an ounce---to over $920 an ounce.
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http://albainternazionale.blogspot.it/2015/07/mh370-e-il-madagascar.html
Yoga-like mind games
Yoga is not a game. I am certain of it.
You are playing with the wrong woman then.
The plan is to print to oblivion.....because there will be no one to blame.
"QE will be stepped up to such a pace that you will hear the roar of the printing presses from Mars"
OK, I'm jealous because that's a line I wish I had come up with.
Still, they won't do that until they finish raising rates to 1%. LOL
Gold....Corvette? Gold....Corvette? Vvaaaarooommmmm! Yeah, seemed like gold was losing it's currency. But 'vettes! They are a pretty good investment for a car - and they sure make you feel better!
I've been watching Corvettes for a few months. C'mon silver! Make me rich!
and remember, in '75 they didnt have the mechanisms to suffocate the gold price as they do now
No central bank will raise rates, they will all dare to, but they will not do it. If they did, you'll see a panic in every single debt loaded country in the world.
The printing presses will ROAR, and the ROARING '20s will be back, starting in 5 years from now!
And where is this stream of money going to go? Stock markets! As I have said, DOW 100,000! That's only 5x today's Dow, maybe even 200,000...
No, there is only one way for everything to go....the Abe Solution. As Japan is doing right now, the world will follow: BANZAI PRINTING!
Yet the Nikkei is no where near all time highs. That doesn't follow. Printing will be to hold the stock market where it is. +- until it breaks.
The money will go into war efforts, not stocks. Govts will spend.
But, but, but, the WSJ says gold is the new pet rock
Let’s Be Honest About Gold: It’s a Pet Rockhttp://blogs.wsj.com/moneybeat/2015/07/17/lets-be-honest-about-gold-its-...
The fiscal gap in the land of the free went from $60 trillion in 2003 to $210 trillion in 2014. That's a rate that would allow you to buy all the gold bullion in this world (2 billion ounces) and all the silver bullion in this world (1 billion ounces) every 59 days
In 2003, just a little more than a decade ago, the fiscal gap was $60 trillion. But by last year it had catapulted to $210 trillion.
http://www.brookings.edu/research/opinions/2015/04/08-federal-debt-worse...
Funny that they aren't also calling diamonds pet rocks when people are willing to pay 10x that of gold to wear one shitty rock on a finger.
I remember when I was a kid....the WSJ use to have class.
Now Rolling Stone is more respectable. Someone actually quit there because they got it wrong......WOW!
WSJ was always the propaganda mouthpiece of Wall Street. But it turned into pure shit when Murdoch bought it. But then, Satan has that special touch.
That is because Rupert Murdoch bought it.
Just look at every country, city or state run by minorities....
if want outside the Debt based monetary system, you have to be in physcial PMs
been stepping up my purchases of silver eagles...
I don't even look at them as an "investment" per se (if they go up great), more like an insurance policy against against us banks going greek...
"if he could short central banks directly he would do so, but gold is the next best thing"
Shorting gold is the next best thing? :P
Why in the last chart today prices are in Log while the old ones are not?
To make the surge more spectacular of course.
To show the similarity of the pattern, and because the value is in dollars - which are worth 80% less than they were then.
In other words, Gold to $12,000+ a Troy ounce when the fiat starts to burn.
forgive me for my noobism.
1) How likely is it that if gold goes lower it will be impossible to buy? (because everone wants it)
2) paper gold is worthless?
1 yes, very likely
2 not yet
My take:
1) nobody knows. It is well documented that gold is rehypothecated, but no one really knows how much physical is actually available for delivery. A lot of commentators here and elsewhere have suggested for years that the squeeze was imminent, but hasn't happend yet (except possibly on the scale of central banks asking for some of their gold back and being told "we'll have it for you in seven years").
2) paper gold will be worthless if #1 ever happens. Until then, it's like any other form of fiat. It works until it doesn't.
I remember when you used to go into any coin shop and buy as much gold as you wanted. three weeks ago I go into the largest gold retailer in Houston and they said they won't have any Gold Eagles until 10+ days. 10+ days!! They had zero...not a single one.
I'm not drawing any conclusions from this at all because I have no expertise in the gold supply chain, but I also do not think it's an irrelevant data point.
Same in SW FL
Posting that misleading gold chart should be an immediate ban. I'm not joking.
Log scale charts are misleading to people that don't understand log scale charts. Pretty sure you just said "Ban people that post stuff that's too hard for a 2nd grader to understand." And I say 2nd grader, because my 3rd grader understands log scale.
Having said that, the premise of this article (fiat currency devaluation = higher gold valuation in fiat terms) is unsupported by the facts. It is a far more likely scenario that the price of gold in USD terms will continue to be intentionally suppressed via COMEX price manipulation. That isn't a reason not to buy gold (people should definitely buy it), but buying it for the purposes of short term speculation is dumb.
Perhaps the algos are reading ZH now. Gold spiked $20 off it's low at the comex open today just as this article was published. Keep it up Tylers!
I quickly read the story, but Jesus Christ how the fuck do you guys still have the energy to still yap about them? I am exhausted.
You can't print the $2 quadrillion in liabilities (SS, Medicare, backstopping derivatives, and so on) the dollar has been saddled with.
Can you?
The chart shows values in the freegold range.
Folks laugh at $55k but this shows it would merely be history repeating.
Bitcoin user NOT affected
What about the BC users who bought at $1000 ?????
There has been several surveys done of this and nobody has actually stepped forward crying about this , all indicators point to some bots that went beserk on the Mt.Gox , the price was not genuine , there were no human buyers , that's why Gox went belly up. The answer is if you don;t want to get Corzined hold the BTC in your own personal wallet.
How many are there in a Monster Box?
I prefer Bitgold.
Bitcoin has surged nearly 30% against its competitor gold in the last couple of months. Http://theindex.io This should continue as gold is suppressed by paper.
The gold promoters are no more ethical than the Wall Street players they despise. Sold their ways at the top of the market and cost many their life savings with false dreams of hyperinflated riches.
Hi Martin !!!
Charlatans selling gold to muppets who genuinely think there will be a return to a gold standard. Hilarious. What a bunch of planks.
It's not our fault that they don't pay you enough at the troll farm to afford any.
I am convinced we are all either Mad as Hatters or really really really prescient.
What is the price [premium] to take physical possession at the time of purchase?
"Gold is a must-have holding in this world."
I'm waitng for 681 support to be tested..
I'm waiting for it to break down through 400 ...
I wouldn't touch gold until it levels off for some time...
Good choice. Wait to buy paper gold at 681. There will be no physical left. Cheers.
Sure there will be. People will be forced to sell to pay off debts, buy things, pay taxes, etc. QE is deflationary in the long run because it creates massive over investment and thus over supply. That's why you see stores lined with merchandise nobody is buying. Deflationary. The central banks are out of ammo, anyway. The crash won't come anyway until bank runs start. All these guys hocking gold are tricking people into keeping all the dollars in circulation. Take them out, and you create even more deflation. Gold is not legally money. It's an asset.
Once in a BLUE MOON the worm turns. Today could be that day.
"Yoga-like mind games"??
keep on playing those mind games forever...?
Yoda-like???
These are not the momentum stocks you're looking for ...**waves hand***
INDICTMENT
Americans are criminals because Americans violate the Constitution of the United States of America.
The U.S. President Obama, the entire U.S. Congress, the CIA, the FBI, the U.S. Military, and the entire Police Force of these United States SWORE to protect, serve and uphold the U.S. Constitution.
The U.S. Constitution forbids usage of debt as money (referred to as 'notes') and stipulates that only gold and silver can be used as money.
Yet,
Americans commit or support and condone the murder and torture human beings throughout planet earth in the name of democracy and freedom, all for the sake of acquiring Constitutionally fraudulent and illegal Federal Reserve Notes a.k.a (counterfeit) U.S. Dollars.
Since the United States is a democracy and Americans only elect Democrats and Republicans who perpetuate this unlawfulness,
Americans are indicted criminals according to the United States Constitution.
Spread the word.
Close....but no cigar.
There arent elections theres dieBOLD!!
RIPS
Gold is finished because I read it last week in the Wall Street Journal.
They told me to be 'honest' and realise it was a 'pet rock'.
What a bunch of tossers.
Hillary, Louis Lerner have set the bar for Ctrl+alt+delete. Restore to a previous time? Oh noes, you have mutiple saving points. Which one should we direct to cleanse your computer? Simple example......We have more sophisticated software.
https://forensiccontrol.com/resources/free-software/
It means the US will continue to use force to support its broken system.
Shades of global warming hockey stick illustration. With all the manipulation going on, there's no telling what the real truth is. I still think you're better off holding double-jambs than gold when the reset comes ... and if it doesn't come.
Who woulda thunk it? As we posted in Jul 24:
...it’s worth noting that GC just tagged that yellow .500 Fib level and the bottom of a fairly well-formed channel at 1072.3 that could mean a significant bounce. The initial target would be the neckline (1140) of the just-completed H&S Pattern (that targets 970.) If things really got going, 1285 looks mighty interesting.
http://pebblewriter.com/markets/gold/
The 1971-80's graph is a hyperinflationary bust when Nixon defaulted on US debt and killed the gold standard. The ensuing wreckage was pretty obvious back then, as the Saudis and OPEC got stuck with TBONDS for their gold.
Our age is a hyperdeflationary bust- since all currency (except physical gold) is debt. Overall money supply collapses, no matter how much the FED and CBs print because the private sector has created too much dollar-denominated debt(like an order magnitude more than FED.) As those "assets" lose value, the money supply collapses, margin calls are made and the dollar will be pretty tough. The FED has to manipulate the stock market to prevent the triggering of a deflationary bust-they have no chance as financial systems begin to die all over the globe(China, Greece, MFGlobal.) They are just stretching out the disaster, hoping a solution walks up. But since the system is totally flawed as a mechanism, it's going down hard...really hard. Hence all the autocratic reforms, wealth hoarding by rich and so forth. Good luck out there
*Yoda
There, fixed it for ya
GOT to keep Uncle Scam's titties FULL and FLOWING for the sucklers...