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Gold Surges On NIRP Hint
The Fed's ultimate dove has been unleashed and this time he means business. Faced with the inevitable rate hike, Kocherlakota has come out swinging to explain how cataclysmic inflation is and why The Fed should use its asset-purchase tools and lower interest rates further... i.e. to negative... Gold reacted instantly...
- *KOCHERLAKOTA SAYS FED HAS ASSET-PURCHASE TOOLS
*KOCHERLAKOTA: THERE ARE WAYS TO LOWER INTEREST RATES FURTHER
And sure enough gold surges...
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Only to be purged tomorrow...
Indeed. This little game we're playing with gold and silver can continue for a very long time. When you can print and move around all the paper gold/silver promises you want, how can it not? Demand physical.
-Argenta
If I "traded" gold (which I don't) I'd be selling the shit outta that spike.
You got that right!
I'm sure Kocherlakota can explain how pension funds and insurance companies will function perfectly fine with NIRP in place.
If the Fed wants to stimulate the economy and all that, why not give me a 100 year interest only NIRP loan so I can go buy a nice compound.
Regards,
Cooter
ZIRP/NIRP leading to economic and currency collapse.
See:
http://www.safehaven.com/article/38731/zirp-leading-to-economic-collapse-much-higher-gold-and-silver-prices
Well he can certainly make a statement regarding it... which is not to say that it will be grounded in reality.
Reuters: South Africa to push for Platinum to become a Central Bank Reserve Asset
http://www.goldsqueeze.com/analysis/south-african-mining-industry-moves-...
The Chinese could always hit the Rinse, Repeat and make copper a reserve asset, that would be interesting... and could bring some of their shadow banking sector under Party control. And why not? when even the FED is talking about buying other "assets" (even if they really mean moar trash for cash, masquerading as NIRP) .
Just a blip
This chart is all you need to know about who/what is in the paper gold market. Clippings scanning algos trading paper gold back and forth
Enjoy these discounts while the robots play
tomorrow is Saturday
More negitive-er!
There is a good chance it will be purged today.
Naw they will fix it by close or later in the evening. Beat the crap out of it with paper.
Do we have a "Trinity" moment here?
http://i.ytimg.com/vi/vKeBM5LeT20/hqdefault.jpg
Barbarians at the gate......someday I'll wear a tie and buy bitcoins.
But it won't be today.
Oh, please. You look so nice with a tie hanging from your neck and dangling between your legs.
Besides, I wanted to destroy the next comment.
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Yeah, that "surge" will be smashed in due time.
I'm in debt trouble. So I'm going to start issuing loans to all my friends, that will be paid back at a negative interest rate, so I get less money returned to me than I loaned out. Who could argue with my logic?
yur my bff
NIRP, I knew it- they were floating the trial balloon on Bloomberg radio last week... "is it really such a crazy idea" etc.
these fuckers will never quit
They can't quit. The music is playing and they have to dance. NIRP, the War on Cash, Gates, Bail-ins, pick your poison. All of these will be tried until at last, the walls come tumbling down,,,
;-D
It's about the only path left on the long road to ruin. Everything else is a reset button.
A ZH surge of 1.07% from 1123 to 1135.
.
ABC - DOW plummets 500 pts, recession
ABC next day - DOW surges 200 points at open
These crooks just won't quit. They are going to keep at it until the entire system implodes.
That's what I'm talkin' about. I'm ready to load up my real estate holdings with negative interest mortgages. Bring. It. On.
That is EXACTLY what tptb want you to do. It's not about the interest rate - it's about the debt. Once you have loaded up up on expensive assets with "free" debt, they will pull the 'Bait and Switch' on you, and jack your rates to the point where you default. Then the bank gets your assets just for the trouble of issuing you a loan created out of nothing.
That is the scam that has been going on since at least 1913, and shortsighted individuals continue to fall prey to it.
How would they raise rates on fixed mortgages?
The longest term mortgage you can get in Canada is 7 years, and they arent going to offer nirp on 7 year loans. NIRP will be on short term or ARM's only so it would be easy to change the rates in a year's time.
Fed is going to raise rates. That's why the bogus/fake/farce 3.7% GDP...
JACKSON HOLE, Wyo. -- Recent market turmoil has gotten the attention of Loretta Mester, president of the Federal Reserve Bank of Cleveland, but it hasn’t altered her view that the U.S. economy is ready for a modest increase in interest rates, she said in an interview with The Wall Street Journal.
The Fed is preparing for a Sept. 16-17 policy meeting and considering whether to raise short-term interest rates from near zero. Mester’s comments suggested she could support a move despite uncertainties at the Fed about whether the U.S. economy will be stung by turbulence in financial markets and overseas economies, though she isn’t prepared to commit.
“I want to take the time I have between now and the September meeting to evaluate all the economic information that’s come in, including recent volatility in markets and the reasons behind that,” Mester said. “But it hasn’t so far changed my basic outlook that the U.S. economy is solid and it could support an increase in interest rates.”
St. Louis Fed President James Bullard on Friday said the Federal Reserve is not likely to change its outlook based on market turbulence. "I won't deny it is a volatile period. It is a volatile period," he told Bloomberg Television on the sidelines of the Jackson Hole event there. "But the key question for the [Federal Open Market] Committee is how much you want to change the outlook based on volatility we've seen the last 10 days, and I think answer to that is going to be not very much," he said. Bullard, who's been pressing for rate hikes, also said China is unlikely to export deflation to the U.S. Bullard is not a voter this year.
One thing is certain, we are all about to get Jackson Holed.
Serge Ibaka
Anybody who is reasonably Usain will Bolt the system soon.
Read up on your Silvio Gesell. It is all there. Keynes loved him, just thought him too crude. Well, it is down to being crude for the central bankers.
Gold has always been real money.
It is the Khazarian Warlord Banksters who intend to cage it so they can Enslave all of us visa vie their Fiat .
Just keep stacking , the day or reckoning is near.
Down with Khazarian money changers.
There's a reason we sent a solid chunk of gold into space on the voyager, it ain't cuz gold is pretty. Everything written on the voyager record is just for show, the real message is "we have a lot of gold here". There's more to gold than we think.
A gold plated copper disk, aka a record, or phonograph. Gold was used for it's longevity, not to represent any value.
Longevity means different things here. it won't rot away, yet gold in a pure form is rather malleable, a REASON among others that make it good money. I see circular reasoning so far. Could it make a good record? That might be fun to find out, but I suspect it won't be much better than one of vinyl.
When your true debt is $210 trillion and rising at $6 to $8 trillion a year, you have no choice but NIRP
That is interesting. The national debt written at negative interest rates then who be paying? Can they afford it? Who gets the payments? Why not go for a quad with this dealy?
Your rich uncle from the planet Mars called the FED is paying. No need to ask where the money is coming from as long as the rich uncle is also willing to pay for European Banks and Everntually all banks. All the people know is that money arrives every day from Mars with instructions on how to monetarily save the planet.
All bets are off however, when people wish to see the money ship being unloaded and to actually count the green stuff as it hits the Banking system.
Surge = $5? Come on...thats the silly nonsense talk that they use over at BI. I guess you could have said it "exploded higher" or it's "going ballistic" or perhaps even "vertical move"...but it wasn't any of them. Just a blip...move along.
yeah, that eagle stash I've been building is looking like a better idea by the day...
ZIRP makes granny pay to feed the banksters. Won't anybody stand up against the banksters to save granny?
In a word: No!
Granny's House is the last Refuge of the Millennials.
Living on the Streets is a feature of a Third World Nation.
Riot Shotguns, Body Armour in the Banks and Stores is a feature of Wealth Gap.
"ZIRP makes granny pay to feed the banksters. Won't anybody stand up against the banksters to save granny? "
I'm the guy that Granny gets her SS check from since the Politicians gifted the money that Granny paid into SS to their buddies in places like Israel and Egypt, etc., and used it to bail out the billionaires like Dimon and Blankfein, etc., when they gambled their looted fortunes away...
I stand to try to save ME.
Maybe Granny should stand up too once in a while. The 'largest voting block' and 'largest wealth demographic cohort by age' isn't exactly making waves unless you consider the status quo waves.
Do you know what I hear from ALL the Gramps and Grannys I know?
Gramps and Grannys want:
1. Their SS checks.
2. Their Pensions.
3. Their stock market investments to continue to GO UP.
4. Their 'senior discounts' and precs on everything.
5. Their 'miracle' prescription drugs.
6. Their 'independence'.
7. Good news or peace and quiet. IE: IF it doesn't make ME happy I don't wanna hear it.
Do you see a pattern? I sure do.
Seniors are worried about 'THEIRS' and not much else.
The 'Greatest Generation' gave up their lives to save your worthless skin, and all you can do is talk about yourself.
The "Greatest Generation" were a bunch of fucking sheep dupes that fought for the wrong side.
Their children, the "Baby Boomers" are the most narcisstic greedy mammon-worshiping fucks the globe has seen in thousands of years.
Dog food is better then they deserve.
So you support what Hitler/Mussolinin/Franco/Tojo had to offer do you? Good to know that there are still willing candidates for the American Nazi party. You need a serious lesson in who the enemy really is.
And that's the problem with your generation. It's not your fault but you look at things through an us vs. them lens. This was how you were raised.
None of those people were a real threat to the United States, the real enemy has been from the beginning...within... and there are a lot of em in hollywood. Inglorious Basterds.
'None of those people were a real threat to the United States'.
I see. So Japan bombed Pearl Harbor and by 1944 Hitler was 6 months away from an atomic bomb and the means (V2 rockets) to deliver it, and you say they weren't threats? I don't think so.
V2 rokets were going to reach the United States?
The lesson you never learned is that life can be full of hypocricies and false flags, but occasionaly, there is someone in front of you that does really want to kill you and those you hold dear. The iran deal is such a modern day catastrophe. If you survive you may be able to debate it a an old man.
American people or for that matter, all 1st world nations who sent their men to fight in WW I and II, have been left powerless to keep their presidents and elected officials safe. How do you keep a hero alive when entities with millions of dollars available to them hire asassins. Four US presidents were assasinated by the time JFK was killed, 1963. When you cannot protect your heroes, you are pretty much fucked and fucked hard until you die. No one else is on your side and the rich do not need heroes, they need to control the information. CIA is, from all accounts, an enemy of the American people in that they are serving a foreign interest which has its sights on expansion. Dual citizens in your government screams of a coup.
But everyone ~loves~ Israel.. US polliticians giving standing ovations that border on absurd to a man who has murdered millions of innocent people or sent them into mass migration, fleeing bombs and rubble. What a guy. Negotiations are just a decoy; this man and his club want to kill everyone. And that has been stated by people with enough clout that it should be taken into consideration. A HELLISH plan to control the world.
So what the fuck do we do? HIRE SOME FUCKING ASSASSINS TO PROTECT YOUR HEROES FROM ASSASSINS would be my suggestion. Who suggested the most loved man in the world after Jesus, JFK would drive through a southern state in an open fucking CONVERTIBLE. WHO SUGGESTED THAT?
Godam it we are just people with a life to maintain and who has the space in their heads to process the information that requires years to reaad and digest? They have families! but I have had time and I m here to tell you, Your Enemy Is In the House and has been since 1963. First task of an invading army is taking over the airwaves, controlling the information. Were it not for the internet, we would all actually believe their childlish lies and blatant unfettered theft, felonious. And these thieves, who are weak men without character and steal the dreams of stronger men and wear it like a fucking badge are not hard to find. China will deal with these bastards and thieves. If we have to go, I say. give the world to China and let them show murdering thieves what happens when their low road to success impacts the nation they call home. To think a religious cult should lead humanity because we couldn't figute out a way of keeping the only men who stood up for us alive is a legacy no man should leave behind.
http://www.cbsnews.com/news/how-doctors-killed-president-garfield/
"How far down into the bottomless pit of communism the United States has been dragged by the Roosevelt administration under the smoke screen of an emergency is shown by a comparison of the program of the Third Internationale and the Roosevelt communistic measures forced into law here during this special session of Congress under threats to deprive Democratic Congressmen of patronage and influence, or, as the President is said to have expressed it to a London correspondent, a determination on his part to keep every Republican officeholder in office until he got what he wanted from the Democratic Congress. Among the tasks set before the communistic party in the United States, as shown in Russia/U.S.S.R.; A Complete Handbook, edited by the scholar, P. Malevsky-Malevitch, and published by Payson in New York this year, I find the following: 'Transfer to the State of all gold reserves, valuables securities, deposits, etc., the centralization of all banking operations and the subordination of all the nationalized banks to a central State bank, etc.'
You have witnessed the unlawful seizure by Franklin D. Roosevelt of gold reserves and other values belonging to the people of the United States, the destruction of banks, the attempted whitewashing of the Federal Reserve Board and Federal Reserve banks, the corruption of which he admitted in his campaign harangues; and you may have noticed that what was confiscated is not in the hands of the present constitutional Government but in the hands of the international bankers who are the nucleus of the new government Roosevelt is seeking to establish here. Roosevelt's actions are not in accordance with the Constitution of the United States. They are in accordance with the plans of the Third Internationale."
http://www.fathersmanifesto.net/wm/wm0200d.htm How The Jews Repaid America for giving them a safe refuge from the world that hates them.
Pattern my ass.. give the inter-generational conflict bullshit a rest, already. And it IS bullshit. A whole lot of seniors aren't doing too great. And why shouldn't they expect their SS since they paid into it their entire working lives?
Same reason bernie madoff's customers shouldn't expect to be paid.
Well, good for you. I am a gramp too, still working, and I left the markets years ago because of folks like you. I am in control of my own assets, no one touches them or it's the cold dead fingers routine. I may not make interest on my assets, but from the sound of this article, if you can keep the value in your assets you're doing better than the people with electronic deposits. I have what I have and when I go it gets passed on to the descendants, tax free. It is their responsibility to care for it wisely.
This is the secret of true multi-generational wealth. You acquire a true hard asset that retains its value, and invest occasionally when conditions are right. You invest, and as soon as your investment goes up 10 percent or so, you get out completely and convert back to your hard physical assets. It's a discipline, but too many are deluded by the notion that putting your money down to gamble on pieces of paper or electronic bits is really the biggest ponzi ever -- the problem with that is that money (i.e. credit) can be created out of thin air continually to keep the game going, Eventually, your electronic or paper wealth is destroyed (that is, the buying power is destroyed) and what you saved your whole life for will turn out to be extremely small.
Look, it is what it is.
This is what I hear. IF You hear something different why don't you say so?
-Because you don't do you?
IF there is intergenerational warfare afoot who exactly is prosecuting it?
Look at who actually owns the assets, who is 'owed' the pension promises, who has the controlling voting block and the lobby representation, who has asccess to the subsidized services of all kinds: it is not the youth.
The secret of multi-generational wealth is not just investing in hard assets although that is indeed a rational perspective: it is investing in your families and communities by creating stable families, investing in education and providing mentoring and on the job training, in hiring your own befor eyou hire foreigners, in creating opportunities instead of shipping them overseas, in investing tax money locally in hard infrastructure/commons instead of internationally, in allowing creative destruction in the marketplace instead of propping failure and hubris, etc..
There is much more to it tahn that; but, I'd like to see some responses that aren't more of the same trumpeting of what 'the greatest generation' did or exhortations to accrue real estate..
Wake me up when CRIMEX gold tongue-punches the 1300 fart box.
Shh! Quiet! Do not disturb the dip-buying in equities. Please, be courteous.
Any day without a $15+ smack down is a 'surge' in my mind. I bought PMs seven times in the past month and need to build up some fiat for the annual end of year smack down.
How can that be? I mean it actually makes sense!
My tablets acting up
That surge is just Mr. Yellen sellin another felon QE melon
Johnny
Surge today
Confiscated tomorrow
NIRP also means that your bank is going to start charging you for your deposits held at their branch.
Bailin anyone?
This will happen after they abolish cash. If they actually manage it.
That's easy enough to take your deposits and move them to another electronic form like a gift card, bitcoin, or even a credit union (credit unions are outside the Fed, and FDIC). So transfer money away from the banks that charge fees. At the worst people will take their money out and buy hard assets like PMs. Even worse would be buying tv's, electronics, tradeable goods.
Narayana R. Kocherlakota (born October 12, 1963) is an American economist and is the 12th and current president of the Federal Reserve Bank of Minneapolis. Appointed in 2009, he joined the Federal Open Markets Committee in 2011. In 2012, he was named one of the top 100 Global Thinkers by Foreign Policy magazine.[1]
Isn't Foreign policy Magazine the Council of Foreign Relations Invention.
So CFR has invaded the Federal Reserve and FOMC.
-
Have to agree with Ayn Rand's last speech that Capitalism is Destroying Capitalism.
Can't say I agree with anything she ever said. Anybody who can refer to other human beings as 'useless eaters' doesn't deserve to live.
Gold 1127 -.875
0920 cdt.
Oil is up 2.5% gold up only 1.2% GOR is dropping though and that's a good thing for gold and oil since it's happening with both moving up.
Gold you can take with you, a barrel of oil, not so much. We are all well and truly f*cked.
so easy a caveman could do it /s
When is the next $100B $UST dump from China scheduled...?
Next month. I assume they are going to liquidate their entire US Treasuries holdings. Punishment for excluding them from the SDR?
Gold is going to double very shortly and all at once. Mark my words.
gold isn't going to double anytime soon. It hasn't seen any safe haven buying. All commodities are in a deflationary bust right now. Until gold breaks free you aren't going to see anything. Gold "should" have surged huge on the China deval but didnt, should have on the Greek debt crisis but didn't, and there is no reason to think it will now.
Hope is not a strategy. Prayer is a strategy (maybe not particularly effective, but better than hope).
You may not have noticed, but nothing is 'doing what is supposed to do' right now. Panic is stalking the globe. In another article ZH points out that there has been panic buying in the Colombian Peso today? Really? Is that the new safe haven?
Investors are fleeing, the threat of balin-ins is only 4 months away, Kotcherlakota is saying go negative and Bullard is saying raise. Not even the Fed agrees and Yellen can't keep control. Bit coin may be easy but it is vulnerable to the kill switch.
Just because something hasn't happened doesn't mean it can't or won't, and just because New York classifies gold as a commodity doesn't make it so. Then there is the little problem of the 125 to 1 leverage on the Comex.
I suspect that ones China trounces the Treasury market they will come out with the coup de grace, a gold backed yuan and a fixed gold price much higher than where it is now. That will make their citizens instantly weathier than they are now and eliminate the stock induced panic brought on by the Western banks.
You are correct as far as the Western man is concerned. 50 years of disdain for gold in the West has convinced many that gold is not money.
The Chinese, Indians, Middle Easterners, Russians and many other small countries are not so convinced, as gold is money to them.
The Central banks have also done their best to steal as much of it at reduced prices.
The only question is when will gold be money again for the average man, and I am not talking about a return to the gold standard,
To do NIRP they must outlaw cash or the cash gets stored outside the banking system, and the banks default en masse.
Except...
They can't stop you from buying highly liquid "stuff" to avoid their bank subsidy.
That "stuff" is then properly called cash.
So they can't outlaw cash.
They can only trade a cash they control for one they don't.
Watch the alternate currencies, crypto and/or metallic explode.
I am often reminded how many of our cultural fables are so deeply relevant. NIRP is grasshopper thinking.
Cant these BIS pee aich dees do anything right. I need them to keep my accumulation costs low
NIRP is proof that economist are stupider than a brick.
Cats on Mars
https://www.youtube.com/watch?v=97xfV6yXcrk