Gold Tops $1300 As Post-Golden Week Surge Continues

Tyler Durden's picture

Gold is up almost 4% this week, surging back above $1300 as China gets back from holiday...

 

Who could have seen this coming?

 

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lester1's picture

Then why do Central Banks hold it and manipulate down the price with paper claims?

lester1's picture

Bernanke and Yellen are lying Jews!

Silver Savior's picture

I saw him say this. Cracks me up everytime it comes to mind.

Took Red Pill's picture

Palladium is up to over $1000 now! Up almost $19 today! I wonder why? It's used in catalytic convertors but I thought the car market was sucking. Putin will be happy.

shizzledizzle's picture

Palladium has tons of industrial uses. From Jet engine spark plugs to catalysts in industrial chemical reactions. 

 

tmosley's picture

Because central bankers ALWAYS fight the last war, rather than the current one.

It's amazing how far behind the curve they are. These retards don't standa chance against cryptos.

kahplunk's picture

Gold and crpto multi prong attack. Gold is the line crpto is flanking.

tmosley's picture

TBH gold is a wall, crypto is the grey goo that devours the planet.

A wall is good defence for primative warfare. Crypto is the ultimate weapon. Just needs some time to spin up, and really once its lose, there is no stopping it, even if you destroy it everywhere you find it.

Philo Beddoe's picture

These retards don't standa chance against cryptos. 

A sentiment often echoed by Goldbugs in 2011. 

tmosley's picture

True, but that was when the CBs STARTED fighting the last war (the one that lasted from 71-early 80's). Maybe gold would have won out in the end, but that doesn't matter now, because the people now hold an ultimate sci-fi weapon and have deployed it. The only places it can be attacked are non-vital.

Billy the Poet's picture

Define "the people." Present documentation showing that "the people" hold bitcoin as opposed to other entities.

opport.knocks's picture

I would also like to see the ratio of bitcoin that is used to purchase real goods and services vs traded for other fiat or derivatives on any given day.

tmosley's picture

The big holders are the early investors. Nerds, not oligarchs.

This should be self evident, but your mind is gone. Reptile brain in full control.

Billy the Poet's picture

If most bitcoin is held by nerds who mined it years ago that means there is little adoption outside of the nerdosphere. It would also mean that most bitcoin has never been traded and when those nerds do finally decided to sell off their hoard then some degree of inflation and a reduction in purchasing power will result.

 

This should be self evident, but your mind is gone. Reptile brain in full control.

Why do you believe that those who request evidence of a claim have no minds? I would think that those who simply accept that which others tell them without question are the intellectual inferiors.

tmosley's picture

Absurd absolutes. Thank you for your concession. Good day.

Billy the Poet's picture

Either most bitcoin has been held long term by nerds as you asserted or it hasn't.  And you still haven't proved that assertion.

 

Absurd absolutes.

Says the man who believes that every random argument which comes into his mind is "self evident."

Golden Phoenix's picture

Shit or get off the pot - no one is interested in the play by play or holding your hand while you do your doody.

Billy the Poet's picture

If you're not here to have a conversation then what are you doing here?

silverserfer's picture

you have NO idea who the early "investors" are. newflash, they are central banks/ gov entity/CIA as in the creators of the ledger. 

Endgame Napoleon's picture

If ya’ll have the money to risk, why can’t you just be early investors in new cryptos, like the ones offering enhanced cybersecurity?

OverTheHedge's picture

Can we keep the Pokemon-as-currency theme going for a bit? That was fun.

I would happily mine coin by capturing invisible secret mutating cartoons.

And just for my new best friend Mr Mosely: https://www.youtube.com/watch?v=vfc42Pb5RA8

(Mr Mosely - you really need to relax a little. breathe in....breathe out.....breathe in.....breathe out......)

 

tmosley's picture

You are stupid and deserve poverty.

OverTheHedge's picture

You are too kind.

Actually, you have probably amassed more wealth through bitcoin than I will ever own, if all your boasting and ranting is to be believed. Well done you. Unfortunately, I am pretty confident that I am having far more fun with life than you could possibly imagine. You come accross as the bastard child of Scrooge McDuck and The Grinch, and despite what you may think, it is not flattering. If you weren't so completely up yourself, you wouldn't be so much fun to tease. Frankly, you're a bit of a sad sack. Just for you, I will give you some free advice.

If it doesn't give you pleasure, why are you doing it?

Better be a good reason.

Now, fuck off, and leave the abuse to people who really know how to do it. Like InTheMix - Remember him? He really knew how to make full use of scatalogical invective. I think he might still be with us, despite not posting often any more. You are a mere pimple on the epithelium of life in comparison to such giants of creative abuse.

Golden Phoenix's picture

It's possible in a way. There are geo locating apps that give you credits for checking in to local businesses. Then you can cash out the points for cash. Don't know if any allow checkout in cryptocoins but they can always be bought with the proceeds. Basically the same idea as the Pokemon but the location yields cash instead of a cartoon icon. There are apps that pay people to get exercise by walking. And there are other apps which pay people to scan a specific item in a store which is like finding a Pokemon on the shelf. Walking to a store could accomplish all three at the same time. If someone were a grocery distributor or something similar it'd just be collecting extra gravy for what they already do every day. If someone enjoyed walking it'd give them destinations. 

If you like PMs walk by the resale shop on the way and see if you can find anything that's sterling silver. 

It'd probably take forever to build up $20 but if you're walking around anyway it'd pay better than Pokemon charging players to play and a reason to get some fresh air is reward in itself. Not my thing but thinking outside of the box is fun too.

Golden Phoenix's picture

Seriously? Go to Facebook or something and do a simple search on cryptocurrency related groups. You'll meet a ton of people. Unless that doesn't support your narrative in which case they're all liars who don't exist or exist only to fool you.

Solid Gold Bubble's picture

You'd have better luck preaching to a brick wall.

 

1 ozt Au = 0.229 BTC

Billy the Poet's picture

1 ozt Au = 0.229 BTC

 

How does that statistic prove that most people who hold bitcoin are individual early adopters? That is the specific question being addressed.

And I'll repeat my suggestion that if most bitcoin holders are independent early adopters as tmosley states then that means that adoption of bitcoin has remained within a small, specialized group.

Golden Phoenix's picture

You're not going to find your answer on the inside of your eyelids. Open them and take a look around.

Billy the Poet's picture

I have no narrative. An assertion was made and I asked for evidence. An examination of bitcoin related conversations on social media can only provide anecdotal evidence unless you define certain terms, measure specific items, correlate the data and produce a resulting theory. Such a study would not take into account those who hold bitcoin but who do not discuss it on social media so that area would remain entirely gray.

Bitcoin may very well be the greatest thing since sliced bread but unsubstantiated assertions don't prove that to be true. Asking for evidence of assertions is normal procedure for any thinking person and does not necessarily indicate the presence of any competing narrative. If you said, "There are a whole lot of cows in my pasture" and I asked for an actual head count you probably shouldn't assume that I am saying that you have no cows at all.

silverserfer's picture

Tmos, you are so wacky. 

silverserfer's picture

 One thing is for sure, cryptos draw in weak hands like moths to a bug zapper. 

Silver Savior's picture

I do have a feeling that all these so called "retards" will end up not being so "retareded" after shit hits the fan. I am into crypto a little too but I don't see what good it would do in a crisis. 

Case in point, the wildfires are near me in Cali. Communications were knocked out and the stores went to only cash in the blink of an eye. Fundamentally crypto is similar to debit cards because it's electronic. 

Now if nothing too bad ever happens then I see crypto as a total replacement for currency as we know it but there are drawbacks to it and I never hear you addressing those.

tmosley's picture

"Retards" in this case is referring to central bankers.

If TSHTF, they will either be fled or dead.

syzygysus's picture

BLASPHEMY!  The gods of Crypto will smite your smug gold stack!

Billy the Poet's picture

Stick with rounds and bars while avoiding calves.

Chupacabra-322's picture

Personally, if you can’t hold it. It ain’t worth Shit.

malek's picture

If you bigmouth state "central bankers ALWAYS fight the last war"
then you should also be able to tell us what was the previous central banker war, BEFORE gold?

Just for the record.

Silver Savior's picture

That "pet rock" saves many people's asses in a crunch.

philipat's picture

Now that would not be the Bullion Banks trying to take advantage of the China close, would it? Nah, they would never do a thing like that would they?

Silver Savior's picture

It's just the sole financial asset next to silver and platinum group metals that is going to save your financial ass. But nothing to see here. Move along. I hear Wall Street has a new financial vehicle for you to buy. 

0valueleft's picture

Palladium has platinum in it's rear view mirror, who saw that coming? Silver Savior did, kudos.

Michigander's picture

1350.,,SMASH...1350...SMASH.

When(if) it breaks 1500, publish a story. Otherwise...STFU.

abyssinian's picture

Wow, great news for me, after 4 years I am only down $300 per oz....I will go attending my 400% gains from ethereum and bitcoins from this year alone...let me know when gold trades back at $1600 and in will sell for even money..hopefully before 2030

kahplunk's picture

The hammer is starting to crack.

tmosley's picture

It is not. It's the same as it ever was, and it won't change until the dollar collapses or the people stop using the fully co-opted pricing mechanism. Which they won't.

BigWillyStyle887's picture

My jewish co worker hides gold under his little hat thing. He must love articles like this.