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    05/26/2016 - 05:58
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Bank Of America: Gold Upgraded To AAAA, 12 Month Price Target: $2,000

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Mon, 08/15/2011 - 07:25 | 1560920 Landrew
Landrew's picture

Ever notice how Mr. Potter and Buffett are never in the same room?

Mon, 08/15/2011 - 08:04 | 1560995 Thomas
Thomas's picture

Michael Steinhardt for President. (BTW-Michael Lewis put it to Warren's wrinkly ass back in the early 90's on the same topic.)

Mon, 08/15/2011 - 08:10 | 1561011 spiral_eyes
spiral_eyes's picture

quadruple A, gentlemen


"If you don't take our quadruple A, we'll blow quadruple holes in your A-hole"

Mon, 08/15/2011 - 08:52 | 1561117 CrockettAlmanac.com
CrockettAlmanac.com's picture

Every time a bell rings, Ron Paul gets a vote.

Mon, 08/15/2011 - 07:35 | 1560930 jubispupper
jubispupper's picture

The long term economic support for gold and silver is like a locomotive coming down the rails.  It's amazing how most folks just don't see it.  I am amazed when merchants still accept FRNs ...

Mon, 08/15/2011 - 07:35 | 1560931 YHC-FTSE
YHC-FTSE's picture

Warren Buffet: "I beg you to raise my taxes" 



That $80Billion net worth should come in handy to solve the deficit problem for about an hour. 

Mon, 08/15/2011 - 07:44 | 1560946 thunderchief
thunderchief's picture

Another token gesture.  Warren Buffet and his billionaire pals won't pony up until they have to send their children to private schools in Armored Cars.  That won't be too far off for these A-holes.

Mon, 08/15/2011 - 07:53 | 1560969 moregoldplease
moregoldplease's picture

Actually he and the other libtards don't have to wait for a tax increase. They can donate any amount of money they want to reduce the debt and their phony guilt. They can do this anytime for any amount. Why don't they?

Mon, 08/15/2011 - 09:38 | 1561254 Beam Me Up Scotty
Beam Me Up Scotty's picture

That is the $64 million dollar question isn't it (inflation you know---it used to only be $64,000 dollar question).

It must only feel really good when you advocate using someone elses money to give to the "poor".

Mon, 08/15/2011 - 07:42 | 1560933 NuYawkFrankie
NuYawkFrankie's picture

The words "rats", "ship" and "jumping" (not necessarily in that order) come to mind.

Mon, 08/15/2011 - 07:40 | 1560938 Flakmeister
Flakmeister's picture


These guys are always late....  Hell, they'd late to their own funeral...

Au and Crude are connected by a rubberband, can't pull too hard on one without the other coming along or getting a snap back...

Mon, 08/15/2011 - 07:49 | 1560957 BabyShoes
BabyShoes's picture

Yeah, great call, as they are near bankruptcy, no less have any bullion themselves.  The real question is why are they going mainstream with this now?

Mon, 08/15/2011 - 10:03 | 1561334 thesapein
thesapein's picture

Pissed off is my guess. Notice how the media side of this, the interviewer, keeps mentioning bubble? Wait until they admit it's actually the bursting of other bubbles or an anti-bubble for fiat.

Mon, 08/15/2011 - 07:52 | 1560966 Josh Randall
Josh Randall's picture

This is BOfA's struggle to stay relevant - must hurt them like hell to say this/admit the truth

Mon, 08/15/2011 - 07:58 | 1560977 Drag Racer
Drag Racer's picture

put a rating on gold? ha, BofA does not have the right to rate gold. nobody has the right to rate true assets because they are not something that holds a 'risk' of defaulting on. this is a stupid ploy to get a mindset that something rated actually has value and to hide the true fact that what is rated is nothing more that trading debt.

Mon, 08/15/2011 - 08:11 | 1561019 Hobbleknee
Hobbleknee's picture


Mon, 08/15/2011 - 08:16 | 1561025 thunderchief
thunderchief's picture

Well put,

I'm going to put a rating on my cat.  AA+.  Those damned Ear Mites.

Mon, 08/15/2011 - 09:03 | 1561150 wandstrasse
wandstrasse's picture

tried to rate myself, failed, there were no appropriate letters on the keybord.

Mon, 08/15/2011 - 11:26 | 1561611 Bananamerican
Bananamerican's picture

A u

Mon, 08/15/2011 - 09:19 | 1561202 Eugend66
Eugend66's picture

+1 ! Debt (nothing) for something is DEAD. RIP

Mon, 08/15/2011 - 08:59 | 1560987 silver is money
silver is money's picture

Inflation adjusted high for Gold is a lot higher than 2000!!! Accumulate more physical gold and silver.

Mon, 08/15/2011 - 08:05 | 1560998 sudzee
sudzee's picture

I'm really pissed this morning. After watching the video i realised that i haven't been getting a dividend on my stash for the last 10 years. Bummer eh.

Mon, 08/15/2011 - 08:11 | 1561017 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

These fuckers are being cute, or they are plain dumb.  Either way, jokes on them.

Mon, 08/15/2011 - 08:21 | 1561034 NuYawkFrankie
NuYawkFrankie's picture

Warren "Oink! Oink!" Buffet: Never in the History of Crony Capitalism has one snout been buried in the taxpayer trough so deep for so long.

And now he's "begging" to give a fraction back - well aint that just peachy!

Sorry Buffy - Madame Defarge awaits.

Mon, 08/15/2011 - 08:38 | 1561071 Raymond K Hassel
Raymond K Hassel's picture

As Hendry has pointed out, the uber socialists are putting motes around their castles now.

Mon, 08/15/2011 - 08:22 | 1561040 PulauHantu29
PulauHantu29's picture

I hope grandma has some gold bars in her mattress.

Mon, 08/15/2011 - 11:22 | 1561596 HungrySeagull
HungrySeagull's picture

If she did, if like mine was there is going to be some deep indentations pounded by the bedsprings and 4 posters while the 6 kids were cranked out back prior to world war two,

Mon, 08/15/2011 - 08:25 | 1561045 speconomist
speconomist's picture

Weird accent? German?

Mon, 08/15/2011 - 08:29 | 1561048 Smiddywesson
Smiddywesson's picture

I think they can't hide the elephant in the room anymore.  Acknowledging gold will go higher, but capping it at a lousy $260 price gain IN A RIDICULOUS 12 MONTHS, makes it seem like just another trade and not the sea change that it really is.  They hope they can keep gold to a 15% rise over the next year, but does anyone believe they can?  Does this economic system even have another 12 months left of kicking the can?

The price action on the five minute chart on Friday looked like a daily chart of silver prices back in May.  It was brutal, and yet, they couldn't keep gold below $1740.  They can still employ margin increases, but they seem to be saving them for an emergency.  Unless we see a lot more than a lousy 2% drop, people are not going to cover.  Today will reveal if this is another May or not.  My guess is anyone trying to hold down the price will have to give it everything they have today or risk watching prices climb right back to $1800+ in one or two days. 

Mon, 08/15/2011 - 10:12 | 1561367 OpenEyes
OpenEyes's picture

They hope they can keep gold to a 15% rise over the next year

Bingo!  First thing I thought when I read the article is that $2,000, from BofA's point of view is NOT a price target, it's a (hoped for) price CAP!  While it may appear somewhat bullish on it's face, a 15% increase over 12 months is anything but bullish, they're trying to dampen some bullish enthusiasm for AU to get those looking over the fence to say to themselves "I think I can get a better return elsewhere".

Mon, 08/15/2011 - 08:36 | 1561068 gwar5
gwar5's picture

Personally I'm glad to see them rate gold AAAA. We're all mini-bullion banks stuffied with Tier 1.

Mon, 08/15/2011 - 08:36 | 1561069 Raymond K Hassel
Raymond K Hassel's picture

If things weren't so fucked up, BofA putting a buy on gold (and JPM just did it too, along with most of the commodity complex) would scare the shit out of me. At worst, it means the bubble is starting.

Mon, 08/15/2011 - 08:51 | 1561116 Johnny Lawrence
Johnny Lawrence's picture

I'm becoming wary...BofA is the latest in a long line of the big brokerage firms upgrading their gold price targets.  All these firms are still bullish on the stock market.

When all the experts agree....

Mon, 08/15/2011 - 08:41 | 1561081 WonderDawg
WonderDawg's picture

If anyone was looking for a sell signal, there it is.

Mon, 08/15/2011 - 08:42 | 1561083 MsCreant
MsCreant's picture

Silver is taking off some here.

Mon, 08/15/2011 - 08:47 | 1561098 Steelpulse
Steelpulse's picture

What about silver? Does anyone have a 12-month price target for silver?

Mon, 08/15/2011 - 11:08 | 1561548 HungrySeagull
HungrySeagull's picture

Don't concern yourself with price target.

Accumulate, Always accumulate even if it is one coin on a finished bid/ask trade. Always accumulate right now.

What you dont want to do is sell for less any coin you purchased. Keep track of them.

I personally feel there may be a day coming where it's 400 dollars for a ASE. I just feel it.

Then again, I used to feel the same way as a Gambler waiting on the river card.

Mon, 08/15/2011 - 08:56 | 1561131 wandstrasse
wandstrasse's picture

but, but, but.. it takes only $5 to get it out of the ground!

Mon, 08/15/2011 - 10:12 | 1561365 thesapein
thesapein's picture

I see a lot of insider joking on ZH.

It's even funnier just thinking how ZH readers are so far ahead of the game that they even have long standing jokes for stuff that most aren't even yet aware of.

Mon, 08/15/2011 - 10:28 | 1561405 HungrySeagull
HungrySeagull's picture

AAAA and 2000?

BULLSHIT. I say BULLSHIT!!!! *Pounds table...

Someone make a Hitler Paradoy film about this please.

I tell you why.

It will break 2000 by the end of this month. It was 1:1 on frigging Platinum last week.

Mon, 08/15/2011 - 10:38 | 1561441 beastie
beastie's picture

This clown knows he will be looking for a job soon so he will need at least one public call that will be right. That is all.

Mon, 08/15/2011 - 10:42 | 1561463 fiddler_on_the_roof
fiddler_on_the_roof's picture

I believe Gold will have a pump and dump soon( to $2000 in couple of months and then back to $1700) like silver.

All the Banks are now starting to pump it.


Mon, 08/15/2011 - 11:17 | 1561579 JW n FL
JW n FL's picture

Bloomberg has the UGLIEST BITCHES!

what the FUCK??

with all of mikes money they could not get some better looking eye candy?

i hope he got a HUGE discount!

tight fisted fuck that he is!

Mon, 08/15/2011 - 14:48 | 1562499 tsx500
tsx500's picture

i hope you're not counting Margaret Brennan in your comment ? ! ? !    http://www.youtube.com/watch?v=YWFW0B9EBx0

Mon, 08/15/2011 - 11:25 | 1561606 choorles
choorles's picture

STOP! WHAT IS MONEY? The money that the world uses today is created by private banks lending non-existent money called credit. This credit has never, does not and will never exist, except in theory on computer screens. People die and they starve all because they do not have enough digits on a computer screen. All of this credit, created by the private banks, is owed back to those same banks, plus interest. By design, there is never enough credit in circulation to pay back all the principal plus interest on the loans outstanding, which is why the concept of bankruptcy is built into the system.

Using the simple system above, banksters are given the ability to manipulate the world’s economies into ‘boom and bust’ cycles. In essence, the only difference between a boom and a bust is the amount of credit in circulation, or rather, the net amount of numbers on people’s computer screens. Initially, banksters create a boom by increasing the supply of credit in the economy. During this boom period, individuals and businesses are encouraged to take on more debt as they are more confident of increasing their income in the future. All this extra credit in the system leads to more activity, which in turn creates more confidence in the system, with many getting into more debt. This boom is akin to a fishing trawler, the bankster throws out a credit line and waits, once the bait has been taken the bankster begins to wind in the credit by taking credit out of circulation, it’s gone. The economy then moves into a slump or recession, simply because there are not enough units of credit in circulation. The banksters are then able to trawl from people the wealth that does exist, in exchange for money that never existed in the first place.




Mon, 08/15/2011 - 13:23 | 1562086 janus
janus's picture

with the massive spread in brent and crude, well, i just wish i had more dough with which to play this game...now that i'm learnin a little about it.

they'll soon be revising that 2000 number up, but after the fact...and, yes, you definitly can't eat it if you don't own it.

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