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Gold Jumps To 3-Week Highs On Heavy Volume
For the fourth time today, gold has been aggressively bid higher. The latest move broke recent stops and took the precious metal to 3 week highs on heavy volume...
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Miners are following suit as well
http://www.goldsqueeze.com/analysis/gold-miners-forming-a-picture-perfec...
yuuuuuge volume !
STAY AWAY FROM IT...........its going lower.....(all the smartest people on CNBS told me so).....so you'll have PLENTY of time to buy it........hehehehehe
Monkey hammer in the shop again?
Getting SOooooooo tired of 2% up one day, 3% down the next. Repeat.
Tyler's can we can an update on the Comex reserves?
They probably remain tantalizingly close, but never touching zero, as they have for the last 5 years.
I said this in another thread, and I think I'm right.
Gold and Oil both up? Check
Global currencies up? Check
"Isn't a weakening U.S. dollar (and therefore a rise is U.S. dollar denominated paper and commodities) exactly what we were expecting to happen when the dollars, being replaced in global trade, returned back to the mothership of the continental United States?"
Why, yes. It is. How perceptive of you to notice.
Of course that doesn't mean that it's happening right now. What you describe would happen over a longer period of time. But, I would say that we are seeing some of that here - rather aggressively. Perhaps there is an under-the-covers QE going on?
Let's say that you don't need as many dollars because of trade prices in USD generally falling. You're holding it in country reserves in Treasuries. So you liquidate T-notes and buy gold, say. The supplyl of (let's call it) cash hasn't changed. You've just exchanged one asset for another.
Now, if the VELOCITY of the USD is increasing, then that would make it appear as if there is a rise in USD paper and commodities.
So, wasn't it JP that been accumulating in vault for their own position over the last few months if I remember correctly?
But then again, that wouldn't have anything to do with it, would it?
Where's Blythe when we need her?
Or that other deranged kid with an assault style rifle jerking off to Mao porn somewhere in Cambodia.
And shortly, when the Saudis (Who are not happy with Washington over Syria) agree that China, it's largest customer, can buy oil in CNY, wtach out below...
Morons buy paper gold for "protection?" Who cares? Miners are different. Loaded up on those a little while ago. But if you can't touch it you don't own it.
At least paper gold is readily available!
You're explanations are sound conceptually but you need to use your economic terms better.
Holding cash = Liquidity (the desire for more, the more selling of non-cash assets into cash, assuming of course that they can be sold or are illiquid, "il-" prefix meaning "not."
At some point the need for liquidity overshadowed the changes in asset prices (or "valuations.")
If your average bank or hedge fund is low on cash, they need to liquidate investments or borrow.
The perception that Treasuries are the same as cash is based on the marketability of government securities in the secondary market. If no one has the cash to buy the Treasuries, bonds, stocks, or whatever, then those assets are illiquid.
Of course, the Fed has the ability the create money out of thin air at precisely the right time should aa liquidity problem emerge.
With so many financial entities margined to the hilt, overleveraged, and vulnerable to asset deflation--prices going down--they could easily become insolvent (net bankrupt) if the market were to sufffer a sudden drop in valuations, or if no one were buying.
The other correction is velocity. The traditional terms means the rate at which money is being spent in the economy. It is not meant to refer to the pruchase of financial assets or changes in the size of investments.
The idea of velocity is that some kinds of spending will bounce aroud in the Real Economy/Main Street far more quickly and thereby stimulate the economy far more than other kinds of spending, where the money isn't respent and just sits there.
As more and more of our economy is the financial stuff, the idea that buying more financial assets will create a trickle-down effect isn't accurate. If anything profits from the buying of selling financial assets aggregates wealth to the top where it is less likely to be spent, re-invested more likely.
The Crimex Registered Gold is down to 91K oz., Ladies and Gentlemen thats less that 3 effing tons for delivery... The Morgue has just over 10K oz. Physical is looking strong and don't know how they can keep a sustained selloff going with that little inventory.
Jesse has the chart need to scroll down a bit
http://jessescrossroadscafe.blogspot.com/
Thanks, I was waiting for an update.
My bad on the Registed picked up the wrong number is 161K oz. just over 5 tons
Comex registered gold is actually 161k ounces
https://www.google.com/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF...
There is 161K left in the registered stock (aka "the actual count", gold available for trading/delivery), 6.5 mln in the eligible (aka "the bullshit count", probably does not actually exist).
yer, how much of the eligible is rehypo'd? and at what price does the remainder take to be switched to registered
at 161 k it only takes, what , $120 million delivery demand to find out
sheesh youd think at least one billionair would be curious to find out ?? Pussies.
It should be a Law on ZH that the paper price should only be shown if the ever-growing "premium" between paper and phyzz is shown in the same article.
The hammer is in the shop getting spec's checked out on its rotary...girder...
silver and gold have been acting very strangely these past few days...prices are rising, what the fuck.
I almost get more upset when prices move up than down.
Amen. We have so little to feel good about these days. Artifically cheap gold is the best.
Just another barbaric relic, kinda like the Statue of Liberty and the U.S. Constitution...
Wake me when Au gets to $2000 - until then its just the algos playing footsie with each other.
1200, now that would be interesting. If we see 1400, don't blink or you might miss 2k.
Dollar weakness.
Let's have a US dollar Free-fall!
Would love to see fear in the Fed's eyes when the petro-dollar ends and people rush out of the dollar.
They have control until they don't.
Then free markets return.
When the FED fails, and it will, the next move will be to kick the can upstairs to IMF SDR's. If for some reason that fails the BIS could come in as the black knight in White Knight clothing. The international banking cartel is far from finished. The FED however along with the Morgue and Goldman, could easily be sacrificed to the masses as part of a credibility increasing play by the BIS and IMF. Many people don't even know the BIS exists...
DX still in same range it's been in all this year.
Yeah. Something smells wrong about this upturn. It should take more than one jobs data report to trigger the great reversal.
Silver. must. not. hold. 16.
hilarious aint it...
u can tell that theyre scared as hell of Silver especially because it is in the reach of the peasantry if they only understood it to be a vehicle to personal and financial freedom...
oh well...more for us...
I've long believed silver is the key to killing the werewolf banking cartel. They still control gold if they want to. Worst case scenario is they allow gold to rocket up and re-establish a new currency (SDR) partially backed in gold of which the central banks have ridiculous amounts. Indeed that's the plan. Now silver they don't control. Although I do wonder about China's silver hoard and them announcing a bimetallic currency regime. Assuming they aren't owned by the bankers too.
interesting theory...
though the amount of Gold held by central banks excluding China, Russia, and India who we know have been buying the shit hand over fists, has to be drawn into serious question given their leasing and re-hypothicating in attempts to prevent the rise in the phony paper price...
Howevere if China were to re-assert Silver historical role as the 2nd REAL form of money it would only hasten a valuation based on that fact.....meaning much, much higher in debt based currecy terms..........
You mean no more cheap silver ? oh the horror !
I've always seen rehypothecation etc as schemes for the central bank owners to obfuscate WHO has stolen the gold, not as a scheme to just protect the dollar and bleed out gold. No, I believe the dollar has been on the sacrificial altar for a long time. A new global reserve currency will rise and it will at least temporarily have gold backing. I don't believe the central banks owners have dis-hoarded unless it was into their owners private coffers. They know it's value far more than most. It's their Achilles heel and they know it. That's why they hoard it.
Again Kaiser, China was the last country to DITCH silver as money. Now, here comes Kiaser Sousa who thinks they will be the first to change their mind.
SIlver's history is one of declining monetary use. Face it. Silver is more important as a commodity and is never coming back into a Store of Value role. Gold works much better and humans are gravitating to use just one. The best, most efficient one.
Gold!
This gravitation is evidenced by history: see the countries one after tho other drop it. See it leave the coinage.
Don't fight history, join it!
By your logic we should move to digital fiat. After all that's the recent trend in history! There is no gold coinage either unless you count eagles etc which there are also silver ones. Also the lack of CB silver hoards was my entire point.
digital fiat what?
Are you talking about what is used for currency? WHat are you saying?
Are you saying you want the MOE to be Gold? which is a gold standard of course. Which also has been done before and failed everytime.
Gold standards are not the answer.
Mankind is gravitating away from fixed exchange rates (aka gold standard) to free floating currencies offset by Gold as a reserve Assett at market price. It's that simple.
Just saw that you recognize the fact that Central Banks have ZERO interest in physical silver, while they have ALWAYS had supreme interest in physical Gold, and you see that as helpful to your premise that Silver is resuming some kind of monetary role.
okeedokee.
Central Banks of the world have around 30,000 tons of gold. That's out of around 160,000 tons of above ground gold.
So, if you think the "central banks have ridiculous amounts" of gold, how to you account for the 130,000 tons out their in private hands?
The CB amount, to me, seems not very ridiculous but probably pertinent as to represent the reserves of the various currencies and nothing more.
And so how do these CB's control this private, hidden world of Gold?
Indeed, your words make no sense and I highly doubt that "that's the plan" as you say.
Please describe how CB's control that 130,000 tons of gold in private hands.
They have owners. Those owners understand monetary history. It is the owners of Central Banks that ultimately matter. Nobody knows how much gold they have. You can pretend you know though if it makes you feel more in control. Silver will re-emerge as a money for the average man if gold returns to prominence. I've never understood the camp tha is pro-gold and anti-silver. All you do is alienate potential allies in the return to sound money. A smart man owns both.
Who is meant by "they"?
If you mean the owners of the majority of the worlds Gold, then how do you know who, how many they are, and their thoughts and intentions?
"nobody knows how much gold they have"- who are you talking about? It IS known for fact how much CB's have- around 30k tons. That means then that we DO know private hands have 130Ktons...so again, who are you talking about please?
How and why will silver reemerge. Mankind has been doing the opposite for hunderds of years. And now, now we have fiat paper and electronic ease. So how, please walk me through, how does silver reemerge? Not specific, of course, but generaly walk me through the thought process.
your logic is in short supply there.
So in your world, "they" (the super rich and bankers??) are "scared" (cause they got in their position by their emotional whims) of Silver.
They are afraid of SIlver because the little people can buy it up. (cause, being super rich,its not like they could buy it before, and in bigger quantitites, than the shrimps like you n me...no, not at all/sarc)
If they only understood what we conspiratards have been preaching to the world on umpteen websites and high visitor aggro sites like ZH (as in , not hard to find "info").
If they only understood it to be the (? better?) way to achieve what they already have- personal, financial "freedumb".
Yea, man, those super rich guys sure are dumb Kaiser.
/sarcoff
cool...
u up voted urself as reward for ur idiocy and vacuousness...
no additional comments from me shall u recieve...
shrimp.
What an inteligent and thoughtful reply! You really move a discussion forward. Kudos to you!
Silver is in shorter physical supply than gold and is ruthlessly shorted in a similar fashion. It would be far easier for a very wealthy group of individuals to break the backs of the cartel by demanding physical silver rather than gold. There is far less of it and it is even more undervalued than gold based on above ground supplies. I'm with kaiser though. This response is for other readers.
Silver is NOT scarce. Retail is hammered by demand of course by guys like you so retail channels are tight, sure but Silver the element is not at all scarce.
As for shorting, not sure why or what significance you attach to that fact but so what? Many things are shorted in these paper markets. But oddly enough, you think that's means something to silvers value without realizing the gold market is WAY WAY bigger than the silver market so the silver (tiny) market is EASY to whip around as the dogs tail is want to do (so, LDO, how COULD they control the gold market???).
But, the biggest flaw in the whole premise is that you can go into the casino, play their paper forward games and then think you can "BREAK" them by "DEMANDING" they deliver physical...all while ignoring the fine print on the door when you walked in that tells you, and all other muppets, that they really DON'T ever have to give you metal. They can cash you out at the "cash" value at their discretion (effectively).
wasting ur time BTG...
i long ago stopped arguing with assholes who r ignorant of monetary historical facts or just Moneychanger obedient vassals.....
How gentlemanly of you to take a discussion down to the ground and insult and name call. That is a time proven way to avoid facts and derail a conversation. Again, Kaiser, you demonstrate your worthiness and honor. Kudos to you!
I agree Kaiser. However, for those interested by the discussion who have slightly less faith in the CB's, silver from mines is declining and above ground supplies are tiny compared to gold. Original us geological society report can be found a couple of comments down in this link:
http://www.ronpaulforums.com/showthread.php?275817-Anybody-got-the-real-...
Well, BTG, I didnt name call or dis respect either of you. I challenged your assertions and had some reasons for doing so.
Sadly, in his day and age, few and far between are those who can engage in a discussion based on facts and reasoning.
Good day to you.
I didn't name call or disrespect you either. Your faith in central planning leads me to believe you aren't interested in my opinion but only pushing your opinion or agenda.
Central banks have no silver hoard. Silver mine outputs are declining, silver has been used commercially for decades in non-recoverable form e.g. Bombs or missiles with silver circuitry (http://www.ronpaulforums.com/showthread.php?275817-Anybody-got-the-real-...). The same entities that attempt to control gold price spend enormous efforts capping silver. If as you say silver was unimportant monetarily I do not believe they would take the time and effort to do so.
Central banks are owned by people some of whom come from families that are notorious for gold hoarding as part of their eternal financial plan for the family's wealth. Much of the worlds gold not in CBs is in religious institutions and/or in other private hands unlikely to financialize it. Central Banks want people to see gold as you point out as an asset to back up digital currencies. I would rather act outside their prescribed paradigm as I do not trust them. I also am aware of their power and influence. Outside their power but something they clearly want kept under control is silver. Within their power and something they also want under control and plan to leverage financially going forward is gold. Again a smart man hedges his bets and buys both.
By all means by only gold... or don't. I'm not interested in debating people who insist central banks are omnipotent or worse yet worthy of trust. So I will close here with respect.
more than i was willing to do....
but hey just for good measure...
"The Coinage Act of 1873 or Mint Act of 1873, 17 Stat. 424, was a general revision of the laws relating to the Mint of the United States. In abolishing the right of holders of silver bullion to have their metal struck into legal tender dollar coins, it ended bimetallism in the United States, placing the nation firmly on the gold standard. Because of this, the act became contentious in later years, and was denounced by people who wanted inflation as the "Crime of '73".
By 1869, the Mint Act of 1837 was deemed outdated, and Treasury Secretary George Boutwell had Deputy Comptroller of the Currency John Jay Knox undertake a draft of a revised law, which was introduced into Congress by Ohio Senator John Sherman. Due to the high price of silver, little of that metal was presented at the Mint, but Knox and others foresaw that development of the Comstock Lode and other rich silver-mining areas would lower the price, causing large quantities of silver dollars to be struck and the gold standard to be endangered. During the almost three years the bill was pending before Congress, it was rarely mentioned that it would end bimetallism, though this was not concealed. Congressmen instead debated other provisions. The legislation, in addition to ending the production of the silver dollar, abolished three low-denomination coins. The bill became the Act of February 12, 1873, with the signature of President Ulysses S. Grant.
When silver prices dropped in 1876, producers sought to have their bullion struck at the Mint, only to learn that this was no longer possible. The matter became a major political controversy that lasted the remainder of the century, pitting those who valued the deflationary gold standard against those who believed free coinage of silver to be necessary for economic prosperity. Accusations were made that the passage of the act had been secured through corruption, though there is little evidence of this. The gold standard was explicitly enacted into law in 1900, and was completely abandoned by the U.S. in 1971."
Conspiratards. The both of you.
You still cling to the fact that CB's take ZERO interest in silver and yet, distortingly, you think this means awesomeness for silver.
It seems you cling very hard to thoughts/hopes/ideas of what you want/should be in life. Ignoring what is and has been.
You do realize a gold standard is central planning, right?
Now who has resorted to name calling? Any true adult knows most major decisions are made behind closed doors whether at the FED, the BIS, Military or intel agencies. If you believe otherwise that speaks to your ignorance, not mine. Mind you that last part isn't an insult it's a statement of fact. If you believe most major decisions are made in an open democratic process (let alone within a republic functioning under rule of law) you clearly aren't paying attention.
Sir,
When Mrs. Kaiser said:
" assholes who r ignorant of monetary historical facts or just Moneychanger obedient vassals....."
you said:
"I agree Kaiser."
That's quite disrespectful sir.
I was agreeing it wasn't worth debating you. Not any ad hominem attacks. I'm certainly capable of that, but I haven't. You now have in more than one comment. Anyways, I have only been posting to help others. It's clear your mind is made up and that is your perrogative.
Shhhhhh, don't ruin it. We're not supposed to talk about such things.
Standby for Act II: whack-a-mole.
You are such a conspiracy theorist, everyone knows TPTB can't just sell billions of Ag shorts in a few seconds. </s> ?
Have the big "let China in" IMF meeting this weekend, yes, no???????
When it's realized that the Federal Reserve's only plan now is what it always was.
Printing and debt.
Buy all those US treasuries and stick them in off-balance sheet so nobody can tell what their doing.
All That's left is the Federal Reserve's shell game of buying with printed money from thin air and hiding.
seeting up nicely for a Monday squid smackdown....Morgoon goons at the triggers...
bought 2 1/2oz American Gold Eagles last week due to the hella high premiums on Silver and spotty selection due to the well documented supply shortage...
despite the ratio still being completely ludicrous, figured it to be a good time to diversify the physical portfolio....
great coins by the way.....
DEATH TO THE MONEYCHANGERS.
Take a look at the Mexican 50 Peso pieces. They are 1.2057 oz. and you can get them for a relatively low premium of about $22.95 which works out to only about $19 per oz. markup.
My lcs was selling them for $10 over spot. Sadly, all gone
Really a 3 week high? Let me put my cock away I'm so excited... Wake me when that yellow shit hits $2000 an oz.
And even my mining stocks are up 50% from when I bought them a month ago.
It will be very interesting to see what happens around the wee hours of the morning next Sunday -Monday-or Tues nights....not fight night, but smack down night.
Yes, watching intently for this. The hammer was missing in action this last Monday morning. It better be functional this coming Monday morning. Want moar cheap physical.
Gold 200 day MA is just under $1177. If it crosses that, things may get interesting.
Back in NUGT! This is better than Vegas. Come on Congress just shutdown the government as we go over the 2011 highs.
Sell All Rallies.
Why ?????