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Gold Tumbles For 14th Of Last 15 Days To Lowest Since Feb 2010
The precious metal pummeling continues...
The 14th down day in the last 15...
To its lowest since Feb 2010...
Which is odd given the near-record physical demand...
and The US Mint selling out...
Charts: bloomberg
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And yet, gold refuses to go away and die......
Bitcoin is here to stay.
Well, until your battery dies. Do'h!...
...correct, Bitcoin is outperforming Goldcoin in 2015.
Gold, silver, bitcoin, it's all the same, it makes Blythe and Bernank blood boil
When government bonds are proven to be a sham as a safe haven, precious metals will take market share as the preferred safe haven asset. The past few years have been tough for PM investors but its nothing but a head fake in the scheme of things.
Bitcoin is going to take alot of teh shine away from PMs in teh coming years. Especially with younger people who don't want to sit around waiting weeks for teh Wells Fargo wagon to show up with their Goldcoin.
Yeah, 'cause tey are so berried in dere fones tey don't know how to go to teh coin store and buh teh physical.
Tey all starve, looking at tey fones.
Buh Buh, Shit Coiners.
You are going to sell your PMs to buh Bitcoin to send monies. And we will spit in your face when you do!
we'll kill you first, duh
You think so hey Fed-collaborator fuckhead?
I'm curious... Do you believe that calling people names is really the best approach to convincing them that your point of view is the correct/best point of view? In theory is it supposed to play out like this:
You: "Buy Bitcoins you fuckhead."
Fuckhead: "Oh, well, now that you've called me fuckhead I see your point and will buy Bitcoins right away."
You: "Good. And buy a lot or I'll call you an asswipe."
Potential asswipe: "Yes, sir. Now that you put it that way I can see your brilliance..."
Well played. I enjoyed the use of screenplay format.
Fuckhead as an insult is way under used in my opinion. It could, if used at the right time in an argument, startle me into compliance.
Fuckhead is making a strong comeback. I guess too many people forgot how powerful and convincing it is. Use it judiciously...
nah.. I still think Dickwad is much stronger
ZH readers didn't seem to notice any slight ethical problems when they used their (digital) Mastercard, American Express, Discovery and Visa to purchase bullion from APMEX and others over teh years. They also didn't seem very scared about a "carrington event" interrupting their digital orders denominated in Federal Reserve Notes. But then again, they are mildly retarded too....
Hey does bitcoin do 0% for 12 months?
Buy bullion with a cc huh? You really are a crackhead.
Sounds like a good option to me ... as long as your intention is to never pay back your cc debt.
I own some bitcoin, I think it could perform well in the upcoming monetary turmoil. That is until reality hits as the loathsome Jamie Dimon outlines here.
If millions of people around planet Earth start using Bitcoin to buh and sell merchandise and services, then Bitcoin is money. It won't matter what a few hundred dipshits on ZH think about it.
You mean crackheads like you getting their drugs with it isn't enough?
Yet a few hundred people here, have more money than millions of loser likes you. Losers who thought they would get rich doing nothing. What retards like YOU think, is what's irrelevant. Maybe you read something about economics and comeback with your weak trolling then.
Coinhead -
My PM's are lost in an unfortunate boating accident.
Back up precious metals are lead, copper, and brass.
Free 3 MOA delivery at 600 yards.
You can sit on your crypto currency tower, and rotate for fun.
I am quite happy to let you have all of the Shit coin for your own amusement.
Your boat should work alot better now without all that useless weight in it. If your bullion cannot be validated three times on teh blockchain it is worthless anyways.
That - is how the late, great legendary Fonestar met his demise. He tripped, and fell, with his block chain wrapped around his neck. All that crypto currency on the other end of the chain arrested his fall, saving him, but breaking his neck in the process.
Validate physical metals ? No fucking problem - i just show them to folks, and make the trade with them accordingly. First time, every time, a 100% success ratio.
Tats teh wey teh deel crumbles, headless coin.
...until the people you trade with (in your fantasy, SHTFING mind) notice that there's a shitload of plated, fake bars and coins floating around from China. And that because they don't have teh experience they can't really tell the difference.
Actually, I am not big on Shit Hit The Fan as much as just being a good Boy Scout. One thing the last 70 years has taught me is that reality is fluid, subject to change without notice. And, no one EVER believes world events will impact their little slice of reality. i got news for you - climate, earth events, politics, and the unforeseen have other plans for your sorry ass.
As for fake silver or gold, US or Canadian mint coins seem to be safer than any other form of metal both for lack of counterfeiting as well as instant brand recognition. Value is easy to establish based on metal content too.
As for Bitcoin, when is the next crypto currency exchange gonna blow up like Mt Gox ? And, the volatility makes paper gold and silver manipulation look like stability in comparison. Sorry, no technology will ever compare to a tube of American Eagles, or a US twenty dollar gold piece.
Over 5000 years of safe haven universal world currency usage gives metals the " gold standard " of security in protecting your hard earned money from fiat, crooked banks, and governments.
That would require you getting out of your mom's basement and looking someone in the eye. Neither of which you do. But I encourage you to try that with someone holding a kilo bar in their hand.
Demand keeps rising so they keep dropping the price even more in order to sell more. What's wrong with you people? Fundamental economics.
(...we know, we know... it sucks to be emotionally invested in teh losing horse, doesn't it?)
'Teh' is a really shitty catch phrase/tag/whatever ya call it. You can do better bro.
AU is sucking as an investment. I could invest in property but taxes/repairs/general responsibility. I could buy a '15 Vette and hate myself for the next 8 years. I could but BC and watch is all piss away overnight some day in the not distant future when that Ponzi collapses. I could stack fiat that loses value every day. Stawks! Or, I'll just keep buying shiny metal.
Does the stupid and old meme of 'teh' make you feel young? haha. So people with NO MONEY are going to do what? Because even in the 'coming years', the market cap of Bitcoin will be less than 5mins of gold trading. Which is fine. Your spenting your welfare/disability whatever check on something other than drugs is a positive.
Guv bonds are debt, period. Bonds are safe haven!? Bonds are collateral!? WTF, debt is collateral and a safe store of wealth!! Let me digest that, nope can't choke it down even with a commode plunger. Captain Debtcrash, I do believe you are correct.
Scammers' motto = Paper 'R Us.
Five years and people will laugh at the idea that something could be considered a "safe haven" without a verifiable public-key.
til NSA hacks your wallet ---
Come to my farm stand with bitcions, and you will leave hungry, come with sliver and eat for a week. I can verify a silver cion, a computer digit? Not so much.
Bitcoiners aren't going to your farm, they will be dining out at teh Ritz. Caviar dreams and crypto wishes!
Another thread hi-jacked . people will you please stop engaging in useless to and fro with trolls , just let them have their idiotic one liners and be done , you are reacting exactly as they want . I am all for bitcoin but this cointroll is put here deliberately to put people off BTC with his idiocy.
^^^
this statement. could not be more accurate. people think these bonds are "safe". just wait until the maturity date comes and the investors can't be paid back. i still for the life of me cannot understand why people lend $$$ to place like argentina who have demonstrated they have no issue with defaulting on the overall principal or places like puerto rico who just pile debt on-top of more debt with absolutely no-way of paying it back. furthermore, the people who benefit in the short-run of issuing the debt (the people of argentina, puerto rico for example) have no problem blowing out of town once everything has gone to shit and the investors are left twisting in the wind. for that reason, i have no remorse for people who "invest in safe bond funds" yet when i ask "exactly what & where are those bond funds investing you?" to which they just have a dumb look on their face.
gold is the perfect insurace policy for when this shit does hit the fan. there is no-way of timing it outside of the clock i use since we've been off the gold standard which is right around every 8 years we have a stock market crash. i believe we are right around year 7 so about another 1 to go. shocker = right around the next presidential election. fed probably holds it together until then & afterwards lets it go especially if the republicans win in an attempt to say AH-HA to which the repubs better be prepared to educate the public that its only the beginning of getting back on-track. its gonna be a mess getting back to the road to fiscal sanity given the level of stupidity bush & obama have taken us.
Argentinian bonds are nickels in front of a steamroller. Gold is the steamroller.
People buy Argentinian bonds because they have insured by an underwriter in New York. The underwiter is insured by AIG. AIG is underwritten by the taxpayer. Who's the fool here?
It's teh fonestardation of teh nation.
What, is Mommy gone to the store and forgot to log off 'teh' puter? Say something when you have something worth saying and stop trolling for BC. You owe me $5 in damage to my trackball from pounding red arrows. No BC accepted.
Yes we believe you like "dollars" you fake ass phukking shill!
(and you probably are some Geezer running Windows ME with a trackball mouse).
I have to poop. Poetry time.
Paper sucks, you Wall Street fucks!
I'll see you vampires in the sun,
with my loaded silver gun.
Yer goin' down in paper flames,
from Lower Manhattan to the Thames.
Your paper is I know not where,
I'd rather shit my underwear!
For, be there bull,
or be there bear,
silver is the suit I wear!
(With gratitude, and apologies to Dr. Seuss.)
The only paper I own is the stuff I wipe my ass with.
Market paper is worthless, because I cannot do a good job of wiping my ass with it.
Gold was worth $28.00 an ounce when I was a kid. Silver was worth whatever was printed on the coin you spent. Any one think those days are coming back?
All of the lying bum fucking aristocracy of the Age Of Paper Power can burn in their paper suits soonest.
I won't even bother pissing on them to put out the flames.
I collect gold, silver, lead, copper, real dry powder, food, tools, diesel fuel, and other useful commodities. There is a community of folks all doing the same, so skill sets and extra eyes and hands can guard each others sixes.
That Jim Morrison moment is coming. "break on through to the other side, break on through to the other side, YEAH "
HFT ain't so good for me.
Credit defaults far as the eye can see.
CDS's gonna make some messes.
Boo hoo hoo as thieves confesses.
TBTF gonna fall off a cliff - REAL NEAT.
Wall Street is a bunch of fucking dead meat.
Politicians at state and in D.C.
Rob and thieve instead of represent the people you see.
Their day is coming for proper restitution,
As folks revert to the laws of the Constitution.
Banks used to be so overleveraged bold.
Now, they're layin' bankrupt,dead and cold.
Gonna be nothing left but prepared people,
All the rest gonna be surprised fucked up Sheeple.
God bless this mess.
I must confess.
I'm a fucking poet,
and didn't even know it.
You know who you are out there.
The challenge is to honor truth, justice, and the original American Way.
Be the best Boy Scout you can be, Be Prepared.
God bless The Real America.
Your poetry sucks! Buh Bitcoin!!
https://localbitcoins.com
I gave ya the green arrow just for effort.
I collect bootlegs of The Doors concerts.
"...correct, Bitcoin is outperforming Goldcoin in 2015."
How about over 2 years? Roughly $1200 to $400. Ouch...
Did you buy at 1200? Is that why you spam BitCoin promotions?
Looking for YTD performance... pretty standard practice.
Cherry picking data? Not so much...
So you did buy at $1200.
Not right at $1200, just dollar cost average once or twice a month. $1200 is small peanuts.... if you accept the fact that a loaf of bread is going to be $100 soon then seven, eight and nine digit Bitcoin should not be hard to understand (unless you're a gold-only ZH blockhead).
Evverbuddy buh Teh Bitcoin.
You sad, pathetic shadow of former Bitcoin glorious day promoter, Fonestar, my true hero.
Smart, witty, intelligent - HE WAS A BITCOIN PIMP WHO MADE YOU FEEL LIKE GETTING FUCKED WAS A LIFE CHANGING EXPERIENCE.
You, sir, are not even a used car salesman with a car lot full of old Geo Metros in comparison.
I miss the good old days, when men were men, and thieves were nervous.
Go ask fonestar on YT who fonestar PAL is you retard.
Fonestar wouldn't even let you wash his underwear.
Me thinks this cretin sucks his dick tho
Go ask him yourself dipshit.
Resorting to common insults is a desperate move. Don't I hear footsteps on the fire escape? Mommies home! Run back to the table and grap your school book and lie that you have been a good boy and worked on your multiplication tables while she was out earning dinner.
Fonestar man I'll give you credit for persistence and determination if nothing else. If you were a mormon there would be nothing left of ZH's front door.
Hi hobopants it's your old frIend0 fonestar.
I do understand that Bread @ $100 means nobody will be wasting money on smartphones, you can figure out the rest.
WTF do smartphones have to do with BTC? Bitcoin is not a company or a dot.com scheme.
lmao! In one fell swoop, you opened your mouth and REMOVED ALL DOUBT! Idiot.
Not sure why you have it in for Gold, which at $1050/oz. comprises less than .3% of investable assets, maybe your target audience should have a wider scope?????
Blockheads 'R Us
"Tough & dumb" false ego... deeply embedded in teh American psyche.
Um no, batteries have nothing to do with it. Have you tried logic? It's been around for awhile now.
Two words for ya: Carrington event. I'm an electrical engineer, the planet is not ready.
...obviously not a computer, network engineer (or someone familiar with distributed computing).
And just what do computers run on in your world, moron? Because you just indicated it's NOT electricity.
...an electrical grid that can run on fiat currency or Bitcoin.
True but make sure you back up your hard drive.
So when the government orders the ISPs to stop providing internet service, how the fuck are you going to access your bitcoins? My gold and silver resides in my house, the feds are never going to get their corrupt filthy hands on them.
Won't happen.
AHH HAA HAAH HAA HA HA HOO HOO HOO HEE HEE HEEE !
Shit coin is here to stay - until the crypto ponzi blows up in your face, folks.
Welcome to digital currency stock market style volatility product.
Worth a hundred bucks one day, a thousand a year later, down to two hundred fifty, up to four hundred-ish, who the fuck knows when they are getting flush, or getting fleeced ?
Wonder Coin - builds strong portfolios 13 different ways.
Yes it's amazing how a 'thinly-traded-barely-owned-by-anyone-on-Earth-asset' can be volatile right? But you (pretend) to understand markets right? VOLATILITY big scary word!... now go hide under teh bed you wuss....
Coinhead -
Volatility for you means never even giving the mark a reach around while you are riding his ass to your own personal glory.
Fucktard rainbow skittle shitting Klingon from Uranus. A kind description of Ponzi dreams pimp.
We agree, Bitcoin is not very useful for stupid people.
How do you reconcile that since you do indeed appear to be pretty stupid. Remember, your computers dont work on electricity and you see no issue with trying to utilize your bitcoin without a smartphone in an environment where you prolly aint buying stuff across the net either....
'Fucktard rainbow skittle shitting Klingon from Uranus.'
See coin-headgiver, that's how you word an insult.
Because a crackhead says so. See in crackheads mentally ill mind, saying so makes it so.
Which version of btc is it this week? How's litecoin doing these days? The dozens of others? Sorry but you died in 2013 like the stale memes you're still using.
Hear me out...
FOFOA is onto something. The more demand there is for physical, the more paper gold the bullion banks release. Thus diluting the paper.
This is not something to be afraid of. We are close to the end. The lower paper gold goes the closer we are to the end
It's getting tedious however. I'm genuinely suprised someone hasn't cornered the physical market by now. It would make the VW short squeeze look like a child's game.
Which is why it has made its way up to 300-1 paper/phyzz. The thing i can't agree with FOFOA is they call for silver to be around $2 while gold goes to $50,000.
FOFOA knows nothing about Silver because the "thoughts from another' thread from GoldEagle that he has spent 8 years obfuscating and plagarizing, is not about Silver!!!!
http://www.usagold.com/goldtrail/archives/another1.html
I recommend 'Silver throughout History' by Cyrille Jubert.
Agreed. FOFOA has an enormous blindspot when it comes to silver. For him, freegold is a religion and as such he has succumbed to faith that somehow, someway, after 5000 years, silver will no longer be considered as money by human civilization -- just because central banks don't keep it in their vaults. I know ... I think it's funny too. But all it is is wishful thinking on FOFOA's part. The truth is, silver is even more undervalued than gold.
that's because silver is also an industrial metal, in case if you didn't know
gold has to go to zero, then ...
Yup...and in the end the paper is going to burn.
People just need to continue to be patient. Don't sell your phyzz...the scumbags are just trying to shake those weak hands outta that tree.
Don't give them what they want...instead continue to cost-average buying more phyzz as the scumbags continue to drive the paper prices down.
Don't spend all your dry powder at one time. Just buy 20oz's of phyzz silver each payday or once a month or whatever fits your budget. Over time you will gain a huge pile of very cheap phyzz on average.
GSR is still extremely high at 75:1 right now. Silver is the buy of the century and will continue to be until the Crimex finally implodes.
Load up on silver and hold on for the ride! When the GSR reverses and silver shoots to the moon, then trade some cheap silver in for gold at a huge discount.
I'd wait until 40:1 and then maybe trade in for an ounce or 2 just for fun. But when that GSR starts dropping under 30:1 or 20:1 or lower then maybe trade some more in. This is just to balance out the stack a little, but I say silver is the most precious and rare metal going forward...the GSR should one day be 1:1 or even negative as silver continues to be destroyed industrially and thus even more rare and valuable than gold.
Just don't worry about it folks. Play their game and take advantage of their deep, criminal discounts on this phyzz now while you still can.
That's really all there is to it.
Just proves Paper Gold is Worthless and getting more worthless by the second, We all know that.
Silver is neutral......
Silver had a headstart.
And platinum had a flying head start. That's an even sadder chart to look at. And I never once hear anyone say a single word about platinum. Guess there are no such things as platinumbugs.
I have talked about platnum on here before. I have a small amount. Premiums over spot are high on platinum so that may be why its not as popular as silver & gold. Russia supplies a lot of the platinum and it is used in industry as well such as in catalytic converters.
I mention it occasionally and I recently bought a fair bit of platinum and palladium......
The commie EPA has it falsely jacked to the ceiling with the catalytic converters, another farce. Digital cameras have cut industrial silver demand drastically but still in the $14-15 per oz. I suspect that silver will become the wampum of choice in the marketplace, but gold will be the favorite savings vehicle. $1 million worth of silver at $15 per oz is 66,666 oz (troy) to store, or, over 2 tons of silver. Not practical.
Gold? At $1100 per oz are 909 oz (troy), or about 62 lb to store a mill $. At 1206 lb per cu ft, it's about 90 cu INCHES. That's about 2 1/4 common gold bricks which we are familiar with from Goldfinger, no gold in Ft. Knox now.
In other words, gold will be the storage option.
I'm getting a little long in the tooth so someone please check my basic math. I was guessing that a troy ounce is about 1.09 regular ounces and 16 ounces per pound and 2000 pounds per short ton. I believe the tonnage in the journals are long tons or about 2200 pounds. I looked up the density of gold at 1206 lb per cu ft. That surprised me, I thought it was about like steel at 480-500 lb per cu ft (memory).
It's fairly close if we divide the oz of silver by the ounces of gold, 66,666/909 = a ratio of 73, which basically checks.
I don't trust Bitcoin only because of being long in the tooth. Nothing is unhackable, so says my long tooth usurping my brain.
msnbc said its because paris fights back against the evil doers...death to the money changers as it has become cliche.
Paris Hilton fights back?
She is a wirey little bitch.
Disgraceful.
Manipulation aside, the dollar is strong right now (the boat with the slowest leak).
This news makes Todd and Parker very sad.
The US dollar is rising so gold is going lower. Gee what a surprise. Does it matter? No.
GOLD = MONEY
Bits and bytes are money now.
Fuck bit-coin it's all about pokemon. If we could trade pokemon as our currency there would be no need for bit coin, gold or silver. Plus pokemon are incredibly loyal to their owners so security is guaranteed, they are encrypted with love!
I never understood what was so innovative about bitcoin.
Online computer games have their own digital currencies that gamers buy and sell for fiat.
Until POOF, then they aren't money, only an encrypted "paper" trail.
Both gold shills and BTC shills are full of shit:
There's nothing wrong in having a mix of both, as part of Asset Allocation, but stop the lies and bullshit about either one being an Investment, Insurance Policy or [LMAO] a "Store of Value".
A genuine Store of Value does not loose as much value, as PM and BTC did. Only Commodities do. As such ...
PM is a "Precious Commodity", subject to wild fluctuations in price and demand, and subject to as much manipulation as any other commodity.
Like I said: "There's nothing wrong with owning PM or hedging/speculating with BTC", but let's keep our shorts on.
FYI, I love PM (gold, platinum, silver), of which I have more PM than you suspect, and have a lot more than is/was wise for a properly allocated portfolio, but I love Truth and Perspective more. Which is why...
I pity those who were duped/conned by libertarian elements, who bought at/near the top and on the downhill slide, as this was clearly a true Misallocation of Assets (money). You have learned the hard way, that it is not "Always a good time to buy". Likewise, I commend those who have the cash and shrewdness to buy PM at depressed prices.
Strange indeed...as the world craters....I guess all is well in Greece....Japan..Brazil....China...Volkswagon....whatever...paper is good right now i guess..
Maybe all this silver I own will eventually turn into chocolate so at least I can eat it. This shit is getting old.
If you leave poo on your floor it will eventually turn into flies. We have tried it.
Ill trade you, I have a few bars of chocolate im looking to unload.
You stole them from the Belgian reserve?
PMs are a USD-priced commodity / asset - just like oil (was). As USD rises, PMs drop in price in USD. However, everyone buying the gold is pricing it in their minds in their local currency. Who cares if price falls another $10, if it's rising in local currency?
We have seen this before. I really don't care about how low they can get gold. A lower gold price will only mean that it will be cheaper to get physical gold. At one stage there will be a lack of physical available, and if just a few guys with paper claims jump out of the system, demand and supply will take it's rightful place again.
At the moment there are more than 200 paper claims for each unit of gold!
Have you ever heard of musical chairs??
Bring the price collapse on, I will use that to get physical gold and then they can do what they want.
It will come back up, just when is impossible to say.
But if you believe the politicians and the FED then you would not even have to worry, for all is AWSOME.
If you don't, stack.
Simples.
You are misleaded. 200 paper claims for future gold per oz of gold currently stored in comex vault.
If you order 10 hamburgers in mcdonald that has only 1 hamburger ready it dosn't mean you won't get those 10 hamburgers :)
If you don't belive me than go to mcdonald ask how many burgers rdy they got, and how many you can order. Pay and see if you get what you paid for.
Right on, moratar. People on here don't understand how COMEX gold deliveries work so stubbornly cling to misreading notions Tyler injects because they amp. up emotions. Seeing only 1 hamburger in the hopper at McDonalds is a great analogy.
McDonalds are franchises, Comex is a crooked casino. If you trust Comex, step right on up. I read that it is closer to 300 to 1 paper to physical. Who cares, if it's only 50, they can make more burgers with less cow and more sawdust, the gold, not so easy.
So, please enlighten us about this magic gold shitter called Comex of which you speak. I thank you in advance, I'll hang up and listen.
McDonalds is an analogy to portray the concept of a buffer not being the same as stocks able to deliver. If the analogy confuses you, set it aside.
Just try to grasp that COMEX physical gold is merely a buffer and does not represent physical gold holdings backing COMEX contracts. Many people hear the number 300 paper : 1 physical, immediately sieze upon the notion that means the 1 physical is held in security as a fractional reserve against the 300 paper, then shut their brains off and accuse anyone trying to clarify of being a mainstream casino lover. Lovely.
COMEX gold is not security. It backs no contracts. It is not owned by contract sellers. The gold is used as a token shuffled back and forth between parties to satisfy COMEX contract physical settlement requirements. Off-exchange transfers of physical and/or cash employing the spot market are almost always then used to enable the eligible COMEX gold to remain in the COMEX warehouse as this is less costly than taking it out and putting them back in again through the melting, casting, and assaying process.
If you follow all that, you'll realize the question that matters is not how many tokens facilitating physical delivery compliance are bouncing around the warehouse. The question that matters is how much physical gold backs COMEX sellers' contracts, i.e. how much unhypothecated gold do they actually have in their possession or own warehouses. We don't know the answer to that. Until we do, we can make no claims about what percentage of shorts are naked vs. backed. The amount of gold in a COMEX warehouse has nothing to do with that.
You do uderstand you are not buing gold from comex? You are buying at Comex, it is place where ppl trade.
Also you know you don't have to eat those (10) burgers you can sell it to some stanger at street with profit (20 burgers got sold 10 to you 10 to stanger) :) than he can sell it back to someone else (30 burgers sold, 10 to you 10 to stranger 10 to somone else). Don't call me insane becouse 30 burgers got sold and only 1 was on shelf.
You know what a "trade" is? - buy and sell. you can buy and sell at place where ppl trade. Comex is place where ppl trade.
I don't belive you can not grasp the idea.
If you see only 1 burger at shelf do you start to panic that everyone in queue will die of starvation?
To get some idea how things works you might read how options, and futures are traded:
http://www.cmegroup.com/rulebook/NYMEX/
or just look around at site:
http://www.cmegroup.com/tools-information/calendars/expiration-calendar/
Knowledge is power :) don't be the guy who got his cash robbed.
Yes i have gold as my retirement plan to avoid inflation (not to earn!) . I don't like idea of manipulating simple guys over internet to cause price increas. Herding ppl to buy gold and cause price increase is evil. Karma is a bitch only if you are a bitch :)
I think you are misunderestimating something here!
Gold is a finite resource! There is only so much gold. All gold mined in the history of mankind is in the region of 160000 tons! Including ancient gold from Syria, Lebanon, South America, the whole lot!! The yearly production is in the region of 2500 tons! so not much compared to what is there.
This is real money, paid upfront, because it takes money in the form of Diesel, Manpower, equipment, skills and capital to mine gold. It is the only asset you can have, where you owning the gold means that asset is not depending on other people's will to do work for you. That work has been done!
If you compare that with McDonald burgers, you better get some school money back. You deserve it!
Surprise yourself and go and buy a Krugerrand. Then hold it in you hand, and you can feel that this is the real McCoy!
The burger will only win, if we get to Mad Max and you are starving. Otherwise the analogy is not fitting!
Oh, and do the maths. If we say that Comex has 200 paper claims for each unit of gold, just to humour you. There are about 350000 ounces of gold deliverable in COMEX at the moment 32g/ounce makes this under 12 tons. If there are 200 claims per ton, then the total futures claims on COMEX is 2400 tons, or almost one total year production for the whole world! That, and more are already spoken for by India and China alone, and if you add Russia, certainly exceeded.
Why do you think Germany could not get their gold delivered from the US.? Why is the first thing that gets removed by USA in Libya, Irak, Ukraine etc the gold.?
My guess is because US had not got the gold they claim they have! It has not been audited for more than 60 years. It has gone! https://www.youtube.com/watch?v=-DT7bX-B1Mg
Guys, you are being hoodwinked by the banksters. They are most likely buying when prices drop.
Wake up, resist, refrain, think. Don't let the fuckers lead you down the garden path.
It's awesome you see past the mainstream portrayals of the situation and I commend you for that. I suggest however, that you not jump to the conclusion that moratar is ignorant of all that.
I encourage you to consider the possibility that you are misinterpreting the role that COMEX gold stocks play in how COMEX functions. No one here is defending all the mainstream ideas you just enthusiastically knocked down.
If you do just a little bit of research into what COMEX gold stocks actually are, who owns them, what purpose they serve, I think you'll come by an even deeper, more accurate understanding of the situation than you think you have right now. Hint: COMEX gold stocks do not back COMEX gold paper. They do not serve as security for sell contracts.
Maybe you are not misleading ppl, maybe you just don't know how it works.
It can be fixed eazily.
Figuing out how comax works by your own, don't trust anyone not even me, go check yourself. Becouse atm you are talking nonsense.
http://www.cmegroup.com
I agree 100% with you:
THINK. Don't let the fuckers lead you down the garden path.
Thank You Cartel! Lower please!
Take a look at the BDI, now at 550, heading straight down, and approaching its all time low. Same with the Bloomberg Commedity Index, about ready to break 80. Rates heading up along with a surging USD that is about to break 100. Oil/energy is a complete mess and about to run out of actual storage (hard to believe). Retailers have reported very poor results, some as a result of company mismanagement, others as a result of losing marketshare to new channels (e.g., ecommerce), and all suffering from a slowing economy. Of course when consumers have to deal with the triple H syndrom of increasing healthcare, housing, and higher education, it doesn't leave much to spend on the next iPhone6-POS.
The global economic imbalances are growing more severe by the day and eventually will be put under more stress when the Chinese allow the Yuan to float freely and most likely support a devaluation of another 10% (as they fully enter the currency devaluation game in an effort to drive exports and their economy). So one final surge/run for cover into the USD which will continue to hammer PM prices (at least on paper). Not much you can do during this process other than be prepared for the eventual unwinding of positions that are once again, well over extended/leveraged. Never hurts to dollar cost average with PM purchases during these down times but only with physical and maybe some of the strongest miners. I always love buying insurance when it is dirt cheap so let the slaugher of PM prices continue as one thing TPTB should clearly understand now is this simple concept.
+1. Well said. I was looking at the CRB the other day as well. Demand destruction, while the PPT continues to put a floor on the market. I like the idea of another $USD surge. The last gasp before reality sets in.
Sometimes I think we will never see true price discovery ever again.
JP needs to cover it's massive phys short.
Short win when they cover at low prices.
See the logic?
When the value of the dollar soars - but dollar based assets. There is no economic or debt based reason for dollar strength.
Oil consumption is also near all-time highs, yet the price is also at multi-year lows. Doesn't mean anyone is "manipulating" the price of oil.
oil consumption is not near all time highs.
Just more paper short positions that will eventually have to be covered.
These paper shorts will eventually be the "rocket fuel" for the next bull market.
No I don't think so. Naked shorts have to be closed out with a buy before contract expiration every month. If they were continuously rolled over they would have to be added to in size in increasing amounts to continue driving the price down. We'd see mounting open interest, which we don't see.
A naked short just buys psychological leverage to be able to jam the market down at key times of the day/week for short term manipulation purposes. Thus paper trading is not effective for long term price manipulation. For long term, must be siphoning physical stocks out of hypothecation schemes and making physical deliveries.
The revelation of those hypothecation schemes or their running out of physical gold to continue will be the end of suppression. That's when people who thought they held physical gold discover they don't. Those people will hit the markets with their legal settlement cash to try to buy some. That's when prices will rise.
Could still take years from what I can gather, as they have literally unlimited paper gold and USD supply, plus full media control, etc
With the market never knowing how much capital really is used to suppress prices, it's hard to estimate any viable timeframe imho
Yeah, it could take a while, but not because JPM can print money.
Because JPM/Fed/Gov have stocks from the past they can surreptitiously dishoard. And because physical gold buyers who would otherwise go to the physical market and take possession mistakenly think they are getting physical gold when they buy a GLD share (thwarted demand for physical).
But the ability to print money or run a cash-settled, side-bet book on gold price can't conjure up any physical used to depress prices that isn't first purchased, thus defeating the purpose. Unlimited spending of printed money and unlimited paper gold selling can't lower physical gold's price.
Guys, the price is set by paper. As the metal is being drained out and the paper supply increasing, the price will have to go down on grounds of confidence in the contract, just to mention one reason. There will be a crash and then a decoupling. But for some time there will be n price for gold, until revaluation.
BTW somewhere along the line the US government may decide they need your gold to save the "nation". So be careful with those boating accidents and make sure you declare your gold when they tell you to. Or give them a face full of buckshot. Your call.
Anything else new under the sun? Keep stacking. One day the grasshoppers will regret what they have done.
You bet. The bankers are trying to kill the mining market but there are some out there who are going to survive just fine. Mining stocks have never been as great a bargain as they are now, never in history. And you can bet your bottom dollar that it will be the same banking mafia who will swoop in and buy them all up once the bottom is in. I don't think we're there yet. Gold could really take one final hammering here and to be honest that doesn't bother me one bit. As you said, keep stacking and keep buying mining shares. Grasshoppers are fucking stupid... which reminds me of a joke:
Johnny had a theory about grasshoppers and he set out to prove it in biology class one day. He set a big grasshopper on the desk at the front of the classroom and said "Hermon, jump!" And the grasshopper jumped. Then, like the vicious little bastard that he is, Johnny tore off one of the grasshopper's hind legs and said ""Hermon, jump! And Hermon jumped... only this time he went off on an angle he wasn't counting on. Johnny picked up the grasshopper, tore off his other hind leg, set him on the desktop and said "Hermon, jump!". And Herman walked a short distance before collapsing in a heap. Johnny finally tore off all the rest of the grasshopper's legs and said "Hermon, jump?" Hermon did nothing, he just lied there moaning. And Johnny proudly proclaimed "See, I was right! Grasshoppers with no legs are deaf."
It's interesting that while the purveyors of NWO are continuing to manipulate the price of gold through their paper puppets scheme at the morgue, the BRICS keep piling up the shiney by the ton. I for one hope to be around when the paper finds an an ember and begins to burn.
I'm so Fucking tired of these daily/weekly poundings in Gold/Silver. Sure, I know well they are hedges against our USD, however this is very troubling to me. Some of it because of the laughing of friends who are up to their eyeballs in equities for the last few years making hay.
FUCK
Forgot to mention my other fear is that fighting the Fed and Wall Street investment banks always ends up in getting me and others whacked in the short-medium term.
Stop trying to time a short in a controlled/manipulated market, they can run your stops and go back to before within seconds, you get utterly fukked even though the price didn't really change after all
Just fucking stack things they can't print
I sense another boating accident in my future...
Reading through this thread, I kinda would rather see a spam post talk about how their sister made $5000 a month just by laying on her back.
Reading through all these was four minutes that I will never get back.
A result of the Keynesian Mobilization of France.
A sort of mini -me 1914 moment.
If you have gold do not cave in and sell just because the banksters flood the market with derivates based on ass-wipe. Once the day of reconing comes he with gold and silver will be king.
what's best source for physical these days?
any place to just walk in and purchase in manhattan?
Same demand same price, so why are you surprised?
Physical selling does not move the price. Price is 100% determined in the paper market.
This is not strange in any way and anyone who thinks it is ain't an expert (or, if they really are, are holding back information to sell you something.)
Knowing this I hope you see that holding gold is not going to make you rich because the price rises. It won't.
Gold will need to be repriced by the international banking system when this paper market kills off the physical market.
Gold is still the only real asset on the central bank balance sheet.....unless you count treasuries...
Physical selling doesn't matter?
Tell that to the miners who bring 2,400 tonnes of NEW gold to market every year. That's 24,000 tonnes over 10 years. That's $83 billion a year (at current prices) and it's been over a trillion dollars over the past decade.
And that doesn't include any trading of the existing 150,000 tonnes of existing gold.
And you say that has nothing to do with the market?
$83 billion a year - thats about as much as the US spends on various intelligence agencies (officially)
also, 2400/150000 = 1.6% physical inflation ... vs real USD inflation of about 8%++ ?
... I prefer this to most other assets out there