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Silver & Gold Are Surging
It appears OPEC (more production, lower prices, lower petrodollar revenues for longer, more uncertainty in global economy) trumps payrolls (Fed rate hike locked in, stronger dollar) for precious metals...
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I think I've seen this movie.
Buy Bitcoin instead!!
@coinhead they will come. Gold and silver aren't bad insurance especially at these prices, but bitcoin is the lowest risk highest reward insurance policy out there. Buy one bitcoin for $360, if it goes to zero oh well, but there is a very good chance it goes up 1000x. They'll get it sooner or later.
We agree.... (except the part about them getting it sooner or later).
Heh heh.. Classic Buy the Rumor Sell the News? Will it continue after the tiny rate hike that they have talked themselves into takes place, and then continue even more after the next QE round is announced?
Live Gold: http://www.pmbull.com/gold-price/
Let's not forget Silver. That ought to be gold on steroids.
Live Silver: http://www.pmbull.com/silver-price/
Who bought the Black Friday / Cyber-Monday deals?
The Ballad of The legend Fonestar,
And His Evil Henchman, Igor Teh COINHEAD
" I like Shitcoin,
It's for real,
And the Fed,
Is never gonna steal.
Mah munnies gud,
Teh blockchain's solid,
I feel Coinhead's wood,
Said a guy named Walid.
Muh diapers r white,
Teh basement is cuhl,
Les Cheetos diet rite,
Playin wit me tool.
I's teh baysment troll,
On teh Zero Hedge,
Till teh day I fool,
Off teh high rise ledge.
Mah crypto is reel,
Saez teh Goldman Sachs
Till teh day I feel,
Teh takes it backs.
Teh net fell down,
In two zreo one six,
I lost muh azz,
When teh crypto kicks.
Now I sells meh azz,
For teh Fed bux needed,
TU buh muh Cheetos
Fo muh face tu feeded.
End uv muh storee
Is buh teh silver
So's u hev teh hedge
When electron's r over. "
why not just go to vegas instead? which has the extra added attraction of loose women and/or hookers !
Because Vegas is not a revolutionary, world-changing technology?
Fiat for fiat. It's different this time.
Yep. First global, decentralized, stateless, digital currency. It is different this time.
"First global, decentralized, stateless, digital currency."
How do you know? You don't!
... you're right. That one's definitely a big conjecture out there (in teh parallel universe you seem to inhabit).
EMP attack, you won't even able to check your Bitchcoin balance. Good luck !
There are 680 alt-currencies out there... 680! http://coinmarketcap.com/all/views/all
There are not 680 different types of Silver and Gold.
This rally is great news. Now most people are only down $500 an ounce from their initial purchase
Please show how you determined that most people are down $500 from their initial purchase.
Bitcoin is 100% open source. That's how it is 100% for sure stateless and decentralized. The digital part should be obvious.
Nothing is "obvious" for this crew. Oblivious would be a better term.
Until the powers that be turn off the internet, then you are completely FUCKED as your little wallet is unable to be accessed. Good luck with that.
Anything can be fucked with but you cannot "turn off" the Internet anymore than you can "turn off" the road system. You should use up some of that paranoid energy and read up on how things work.
LOL!! i am sure that the NSA has all kinds of interesting tools that they are just itching to try out. But you keep believing the governments of the world are going to allow bitcoin to keep going when things get tough for them. Just like all the people who had their gold confiscated out of their safety-deposit boxes, only to have it replaced with a piece of paper. Don't worry, nothing like that can happen here again, right?
Buh teh blahchain is anonimuzzzz!
/That's why public servant and humanitarian Blythe Masters is preparing it for "wider use"...
...um no. She wants blockchain technology not Bitcoin. Anything else we can help you with?
Blythe is a powerfully connected opportunist. Evil yes, but not stupid. She will try to rig the game everywhere she goes, but that doesn't discount the potential of bitcoin.
You don't think that Blythe Masters and company would do whatever they need to do to attack Bitcoin to make it unusable and then hold up their alternative electronic currency to the masses as the thing they should be in instead?
I don't think that would be a smart game move, no. Discredit the tech's namesake? They will try, the same exact way they are and will continue to try and control the gold price. They will fail and the market will win.
Guys,
The blockchain IS NOT anonymous. I am an avid bitcoin supporter, and coin haters always make that false claim that bitcoin supporters think it is anonymous. It is flat out false. The ledger is readable by anyone at anytime. What bitcoin is, is so annoyingly difficult to parse that it is semi-anonymous. AND... there are ways of doing anonymous transactions and covering your trails, but it takes a little more work.
But hookers can still hook when the grid goes down, probably not in Vegas though since the place is toast without electrons... kinda like bitcoin.
Shit, they are toast without water.
I ain't sayin it is tomorrow, but the weather patterns do not particularly good for the SW. The Southern Rockies need about 10 freaking major hurricanes to run up those hills and come out dry on the other side.
Regards,
Cooter
True if the grid goes down, everywhere in the world, forever, and we are all living off the land, with no gas, no HVAC, no modern technology, living hand to mouth, the supply chains to make bullets or anything have broken down, and people somehow are unable to restart the grid, bitcoin won't survive.
I'm not saying don't buy gold and silver, for that scenario, you'll obviously need to trade for family farm produce, hand stitched clothes, maybe a couple chickens, an ox to plow, or something that you just can't trade your labor for. I just think that scenario is way too unlikely to be a reason not to put a few hundred $'s into bitcoin.
Until it's not.
Nuclear science guarantees the Sun will continue to exhaust high energy particles in what we call solar storms. Such an event, like the 1859 Carrington storm could take out all communication orbiting and ground stations and power grids and everything with an on/off switch. It is a matter of time and so there is that risk in electronic currencies. The most recent really big solar flare was in 2012, fortunately not pointed at the Earth or everyone would be much more aware of this risk. Maybe put some heirloom grain seeds in your blockchain? The world will always need a good mash for brewing or distilling spirits, if not for chowing down.
Can you turn the electronics back on? Make new electronics? Are all hard drives toasted? If not, the Internet will be restarted, and bitcoin along with it. See your bitcoin lives on hard drives on every copy of the database, not on individual devices. It can be restarted and all balances the same.
I like PM's but I've been reading up on bitcoin and I'm convinced I need to diversify into yet another central bank killing agent and so I'm buying a couple.
I thought about buying one just for.the novelty of it all.
Both good reasons. Despite its usefulness, my favorite reason to own it is as rebellion against the empire.
You could say that about anything you choose to own. It's all risky.
A man carrying $200k (arbitrary high number) worth of bitcoin around with him looks like any other man. Carry $200k worth of gold around and it's pretty obvious, he won't get across any border, or make it out of a civil asset forfeiture stop. I think there is a 50% chance of 1000x gains on bitcoin, can't say that for Vegas. There's also a 50% chance TPTB hunt down gold and silver. Why not put a couple hundred worth of FRNs in to bitcoin?
You don't carry any of your metals around, their beauty is they are a store of value. What you carry is enough of the dominant FIAT of the time (currently not yet bitcoins) and store enough to cover a certain amount of weeks or months of your expenses. That is you don't want to carry or store 200K of your FIATS either on person or hold them as a store of value.
I like the digital currency but will buy them when they become more broadly exchangeable and in small quantities to facilitate exchange. Right now the things I like to buy don't exchange in bitcoin and or other digital currency so not useful to me as a medium of exchange. I have been meaning to drop a lazy 5k into digital but with so many options out there it's hard to choose, you start researching and there are many opinions on the best digital coin.
I am skeptical of digital currency being a long term store of value due to anyone being able to spin one up and roll it out.
Ultimately there must be "freedom" in the APEX capital good of money. Let the people decide their favorite unit of exchange and store of value without the central planners bleeding the savers to death via inflation and stock market bubbles and crashes.
Points taken. I enjoy intelligent thoughtful replies. A quick rebuttal:
I didn't mean carrying as spending money, I should have been more clear. I meant having to flee with money in extreme hostile govt situations, where your vault location or whatever has been comprimised.
Storing our PMs is risky. That is evidently popular wisdom as many "experts" recommend diversifying that risk by storing metals outside of an individual jurisdiction. Called diversifying political risk. My comment above was extrapolating from that inherent risk, ie you have to physically secure and securely move PMs eventually, which is much more difficult than with bitcoin. Your gold is not yours if you can't move it. Also, oon a large business facilitating scale, storing gold in centralized vaults has the moral hazard of fractional reserve of gold certificates, where bitcoin (or future bitcoin derivatives) are instantly verifiable.
PMs are the historically best store of value, but tools change over time, money is no different. It just took a LONG time for technology to advance beyond PMs, since gold was so nearly perfect, but it will surely happen or has happened.
I'm a bitcoin agnostic, but anything that, in four years, goes from 5,000 units per Papa John's pizza to $1,000 per unit smells a lot like one of Doug Casey's junior mining stocks: good to have bot 5 years ago, but maybe not so much now.
Semperfi, they are geeks and not particularly sure what to do with wiimmin. Let them tickle their bits.
Regards,
Cooter
Your "currency" requires electricity...and the SECOND it becomes a genuuine threat to the established Banks as a prefered choice of the public it will magically be linked to terrorist funding and be shut down by the Govt, only to be replaced by a "safe" digital currency...one backed by the Banks.
Technology will set us free. The 'geeks' as you call it are always about 10 steps ahead of crony old school empire dictators. Everything will be distributed, decentralized networks. Think satellites, are they going to EMP all those too? Ever hear of the 'dark web' or running distributed Internets (not the one your using to read this). It's a war for sure alright, maybe everyone could root for the good guys, not the status quo.
Every solar panel will stop working too right?
After the EMP wars, the only internet up and running will be a version that is currently called the dark net.
But hey, we never said we'd turn your lights back on. The 'centralized' power grid will be in shambles.
Good points. It's estimated that over 1/3 of the world's economy is gray and black markets.
Again, please feel free to tell me how accessible or valuable your electronic currency will be once its linked to a "terrorist" organization?
This sound more like a "ghost dance" on your part. I bet the hundreds of millions going into NSA will be the individual geeks. Especially considering that NSA and other alphabet of agencies hire very intelligent people also.
The banks already have a pseudo-digital currency that trades 1:1 with the USD. You can never own it though, you have to borrow it - it's only used to calculate debt. People only think it is equivalent to USD, but that's only the current echange rate. Visa and MC run these digital loanshark networks.
When the grid goes down, you're not going to be able to check blockchains to exchange bitcoins, but you're also not going to be able to use Visa or MC clownbux either at 99% of the places you do now because authorizations all happen over the exact, same intertubes. I think there's still a single gas-station in Nebraska that uses an imprinter to process a Visa charge manually on paper. You can also buy smokes, beer and Pringles, so I guess you could survive there for a few weeks.
I find it funny when people argue that TPTB will go after bitcoin if it's successful, but then buy gold and silver that are much easier to seize and control the transaction of (at least at business-scale transactions).
Banks are currently hedging into bitcoin. They are evil geniuses after all. They're investing in bitcoin companies and R&D, and just buying. They see that the SECOND bitcoin becomes a threat it'll be too late.
Of course, sound money advocates, who are unable to assimilate new information, will miss the boat. It's economics and science, not faith. Gold and silver are good, so is bitcoin.
One of the beauties of bitcoin is the alignment of incentives. And in the long run, even the banks can't escape free market forces.
The fuck are you talking about? Gold and Silver are much easier to take than Bitcoin?....throw your phone into a lake where I lost all my Au/Ag in a boating accident. I can go and swim out and retrive it....you?....not so much
Your bitcoin isn't on your phone dude.
Reminds me of the scene from zoolander, "oh the files are IN the computer."
Bitcoins live on the network's database, the blockchain. They are always there. Never on a mobile or anything else. Your mobile simply signs a transaction, a which is broadcast to the network, which reassigns those bitcoins to a new owner. Your signature can be a passphrase or a string of random characters, backed up or whatever. Mobile wallets hidden from view and encrypted on yyour phone. (my new favorite samouraiwallet.com) All for free with a computer.
There are even multiple signature accounts that can't be used without n out of x signatures (like 2 of 3). Created for free once again with a computer.
Bitcoin - it is not a currency.
Bitcoin - it is section of clinical psychiatry.
Most bitcoiners also own physical gold and silver.
So they have a good chance of recovery from mental illness. A doctor named "time" will be able to cure them.
Time will tell.
Bitcon
Bitcoin
Hilarious...it's like watching Abbot and Costello's "Who's on First" routine.
You bitcon twits are solid gold entertainment.
What's really interesting is how old gold bugs are treating bitcoiners just like how the mainstream has treated gold bugs for decades. Calling them idiots and twits,and not listening to reason.
Again, to you bitcoin bugs, can you please explain to me why bitcoin is any better than any other alt coin of the same flavor: the exact same security and other properties... other than to say that bitcoin is first to market? BTW that first to market thing only holds favor for so long... price takes care of everything else. Just sayin'.
Network effects is one thing https://en.m.wikipedia.org/wiki/Network_effect
Bitcoin came of age alone and in relative obscurity, which gave it time to build immunity and strength, and build those early network effects. Altcoins today are birthed into an internet that is aware of bitcoin, so they are attacked by every known vector, vectors that bitcoin's shear size protects it from.
Security doesn't come from a "flavor" of digital currency, it comes from its power. Cryptography secures address, but the network's security (against things that would actually effect the entire system and not an individual) is derived from brute force, or the ability to withstand a brute force takeover of the network. The incentive structures for participants, shared by altcoins and bitcoin may be the same, but those incentives increase in magnitude as the network and price grow.
For example, if a participant in bitcoin, say a miner finds a bug, they have incentive to try and fix it before it's exploited. If someone finds a bug in a small altcoin that only has a $100k market cap, there is less incentive to fix it, and more incentive to jump ship to bitcoin or exploit it yourself.
These types of game theoretical and economic questions are fascinating, and capturing many of the smartest minds. People are trying to understand it more fully, and it brings new people into sound money economic thought. One point is generally accepted by all who give it a fair look, it changes what we thought we knew about the subjects involved.
Until Michelle accidentally bumps the internet kill switch while she's dusting the furniture.
Yeah scary eh? They are so powerful, so powerful...
I downvoted you for assuming the Queen Wookie lifts a finger. They have white servants for that, silly.
I completely understand.
I was sarcasm. I see that others use the s/ tag, but I assume most can recognize sarcasm. I must remember to use that qualifier going forward.
Bitcoin is a fantastic idea and wonderful technology that will never be allowed to seriously compete with governments and banks.
It is most useful right now for black ops and drug money laundering.
We cant even get the us government to issue its own debt free au ag backed us notes as required by our constitution.
Cant get an audit of the fed, or learn who the owners if the 12 banks are.
All this said: Whether or not you can make some money in the meanwhile is an open question - I'll jump in when weapons manufacturers and/or Rothschild banks start dealing in them openly.
.
They don't get that because they don't want to. It will only be allowed to the point it is useful to TPTB/Government at which point they will actively attack it or take it over (and fuck it up).
Regards,
Cooter
They don't get that because they don't want to.
Governments will not be allowed to use bitcoins cause we'll track them down. They don't get to use our currency because we don't want them to. Governments of the world try to run any of their black government ops on bitcoin and we track them down. It's in the ledger.
"We cant even get the us government to issue its own debt free au ag backed us notes as required by our constitution."
That's because they need us to accept the benefit to trap us under their codes and statutes. I get why people don't like bitcoin, even it being fiat, it allows me to trade without accepting the benefit and trapping me in contracts I do not wish to be in.
It is most useful right now for black ops and drug money laundering.
Yeah, um, like, federal reserve notes? Or um, like the gold bars they use to pay off rebels in the middle east? Or maybe, drugs are smuggled in cars so all cars are bad? Am I missing something?
TREAD HIJACK!
I'm here for the "surging" gold and silver and other precious metal porn.
GOLD BITCHEZ!
MsCreant,
This helps my gold and silver portfolio greatly! I need it to go much higher before I can afford a home.
you tell 'em, missy.
LOL - I've seen it too! It always gets monkeyhammered at the end!
(Pump & Dump )n
Fool me 10 times, shame on you. Fool me 20 times, shame on... shame on... means you can't get fooled again.
God, I never thought it would be possible to actually miss "W". Compared to what we got now.
There will be beat downs until the music stops, but I must say that the opportunity for $15 silver is closing sometime soon.
go on then--
http://www.ebay.com/itm/4-Rolls-25-100-Coins-2016-Canada-1-Troy-Oz-Silve...
Hah! $17.32/oz.? No thanks.
And if they make it illegal to own or move your silver? The drowning man panics and pulls everything down with him. Good luck escaping or hiding with 5000 oz of silver.
Zerobrains have already confirmed that if gold & silver become illegal they will be lining up to turn it over to authorities. After all, Zerobrains have confirmed that central-authorities are all-powerful and should be respected. They have said as much about Bitcoin and because they are totally intellectually consistent, it must also be true with their metals.
Who the hell are you talking about???
Himself
...zerobrains (who say "they" can turn off teh internet all around planet Earth whenever they feel like it).
Do you hear voices whipering this into your ears?
Ignore him except to throw him a down vote. He is here shilling his biz. He has several coworkers to upvote his posts and add to the pro-shitcoin comments.
Bitcoin is the Commodore/Amiga of the 2010s. It is so full of potential and may one day be the way people transact but it won't be bitcoin. Now if you happen to hold a physical Coomodore puter in working condition that is worth real money to some collector. 20 years from now when you pull out your shitcoin wallet people will laugh and say, yeah, I got fucked on that scam too. They will of course lie about how much they really lost or maybe claim they got out just before the quantum computers came online at Langley and all the shitcoin accts evaporated.
"Bitcoin is the Commodore/Amiga of the 2010s"
Ouch man....to those of us that are old enough to know that system....just....ouch!....*Zing*....*Golfclap*
I can see predicting the future in some ways, like the national debt will implode, or stocks will crash back to sustainable P/E ratios. But predicting technology is a pure guess. Like watching Space Odyssey 2001, or those black and white predictions of flying cars, or there will never be a need for more than 5 computers worldwide. You'll look like an idiot.
Making something "illegal" automatically makes the price skyrocket (simple supply and demand) just look at guns/ammo/drugs! Also, if "they" make it illegal to hold either PM's (gold, silver, lead) or guns, is the day I will officially become an outlaw!
Go ahead, put me on your list....... BITCHES!
Is silver back to 14 yet?
Sorry, not biting on this one again.
Don't ignore the trend in gold. Over the last few years it's a ski slope down.
I agree about the trend...... but, do yourself a favor, look at the 20 year chart, not the 3 year chart! (must look past the manipulation of printed money)
Hey...when you play with paper gold...anything is possible in the "new normal"...
Nope, gold NEVER rises into a rising interest rate. I learned that from Kitco.
Gold shorters are just cashing in for year end closing.
Forward speculation of QE4 after rate hike.
On the performance of the last two months, there would have to be a real kiloton explosion somewhere for this to go up anywhere serious..Even after the dirty Turks nearly caused WW3 it only lifted fifteen/twenty bucks for a measly hour ffs.
Paper paper everywhere
As soon as Yella lifts her skirt on the 15th and gives 25bps, down, down, down is where gold is off to..Why oh why did I swap my house for a solid gold SUV? Always last on the boat, that's me...Still..it'll melt down into lovely jewelery for the kids
Well fuck me if it didn't just jump £8/oz while I was writing that..
I remember 1979 when it was closing in on 900 just waiting for Carter to pull the trigger.
Shits a lot deeper now, so wtf?
We can debate FA until the cows come home. Looks to me like a legit move off of a quite clear pattern setting up 1050ish as the main pivot point. I wouldn't step in front of this one on the short side rather be looking for optimal entries on the long side. Could carry to 1200ish over the next couple weeks. If this were to occur an idiot like myself would monitor how it behaves between 1170ish and 1200ish.
Wrong.
Printing press just jammed this morning. Tech will fix it after his coffee break.
I think the FED and their lackeys will be in charge until the first huke goes off or the next administration can pull of a FED audit. Betting on a nuke.
Look at Platinum!
Tells you how messed up the PM markets are. The stuff is much rarer than gold, is only mined in about 3 places in the world (mostly South Africa), has huge industrial applications, and yet it's $200 cheaper than gold. Go figure.
<<<----- Gold on its way to 700$
Gold "Surging" ??? tell that to all those poorer ZH'ers who stacked it @ 1500$....
I only watch the price of gold as a curiosity, my stacks remain. No "poor guy" here.
Can you spare me a dime ?
Looks like a short squeeze for the day, but I'm pretty sure this is NOT the 4Q Ag squeeze that Maguire called for after his 8-bitter lunch at the pub.
And if he says it is, I say BOLLOKS
what happened? did Gart-the-man go short?
I feel his embarrassment.
MANIPULATION!!!
Itz called a sqwort sweeze.
Newz is justan allgoes excuse, to work a virtual market.
What relation is a paper contract to physical metal, again?
When will on the table phyz be quoted distinct from the paper play?
How could they ever quote 2 prices, as soon as they admit that real gold if you want to hold it is this price but if you want a paper that says you have some it is this price.. the Jokes stop.
Gold will take off when its time. The element of "lost faith" is not quite here yet...but its easy to see on the horizon now.
surging!
Yeah? Up or down?
And now its un-surging. Rates Up. Stocks Up. Dollar Up. PMs... down.
Chump Hubbs here.
It seems everytime I would buy PM's on the "dips" a few days later they would drop even more.
Just bought a few days ago with Gold at 1058, so am expecting another drop any second now.
I don't understand. Interest rates going up should make me want to get rid of my stacks of barbaric relics even more because my neither my relics or my barbarianism happen to pay interest. Confirmation by Hilsensloth speaking as the anus for the Fed of a Dec rate hike should have driven down even further the fiat value of my relics ??? A truly bizarre world we live in.
Oh well, I'm off to Calebas to stack some more lead and enjoy the company of shoppers that say "excuse me, good morning, and how are you doing". Yes, the place is simply overrun with "White Cracka Honkey's" that have manners and act like decent human beings. So opposite of shopping anywhere else these days ...
Stocks are going down, and some investers are dumping stocks and have no idea what to do with their money. So they temporarly put it into PMs as they validate their choice because they SEEM to be rising.
But the reason they are rising is BECAUSE they put their money into PMs. Guess what happens when PMs stop rising?
Member for 25 weeks? Man, we all gotta listen to you!!
Short squeeze.
I have news for you genius: the S&P is up 33 points (1.6%). So money is going into both stocks and PMs. Next brilliant theory.
Gold and silver are on a dramatic spike up? It's got to be a CONSPIRACY and the markets are being MANIPULATED by the banksters, Fed and the secret underground world government.
Or is it only a conspiracy when it goes down?
No one believes the ACTUAL price of physical gold is manipulated...thats really an impossible thing to manipulate.
What IS manipulated is the paper gold.
The idea is that the paper gold is used as a platform to give confidence in fiat paper, by monkey hammering gold they can prop up the US dollar and it's markets to some extent.
There are a lot of motives to drive the paper gold price down, not a whole lot of motives to drive it up. So yes, when it goes up it's much more probable that something REAL is happening than when it goes down.
When you give a group of Talmudian Jooz the right to control the west's currencies, what the hell do you think is going to happen?
Its still early and its a Friday
I always get nervous when gold spikes up this much. Makes me wonder if someone knows something I don't. Should I buy more ammo?
I think I can smell TROLLS. They seem to panic and come out of the woodwork when "PET ROCKS" are on the move. The "PET PAPER" and "PET DIGITALS" fans are in for a big shock soon. I fully expect to see the RELIGIOUS red herring commenters trying to distract us from our path. _JOHNLGALT.
I guess the boyz just guaranteed today, there will be no rate hike from the fed.