Bernanke Unleashes The Path To New All Time Highs In Precious Metals

Tyler Durden's picture




 

There was one thing, ONE THING only that Bernanke could do, to become a gold bug's best friend today, than merely announcing QE 3/4. It was to announce open-ended QE. This means this is the Fed's final shot and there is no way to frontrun the Fed any more by definition. It means the terminal start of currency debasement is now here. It also means that the path to all time nominal (and inflation adjusted) highs in gold, which is now just $160 away, silver, platinum, and all other metals, as well as all other hard assets is now clear. It also means that very soon stocks are about to realize what soaring "input costs" mean for the bottom line.

Thank you Chairsatan: you are truly a gold bug's bestest friend!

 

and in case you were wondering, Silver is now equal YTD with the NASDAQ and Gold is catching up to the S&P...

 

Charts: Bloomberg

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Thu, 09/13/2012 - 13:21 | 2790563 12ToothAssassin
12ToothAssassin's picture

Barbarous relics to the moon!

 

Bitchez!!

Thu, 09/13/2012 - 13:22 | 2790588 HedgeAccordingly
HedgeAccordingly's picture

More twisting and shouting YES! - Gold 1770 = http://

Thu, 09/13/2012 - 13:25 | 2790604 nope-1004
nope-1004's picture

But why is silver going up?  It's only $5 to take it out of the ground. <s>

Inflation is coming in a big way.  No turning back now.  And I'm happy we're done with numbering each successive QE..... let's call this ponzi what it is and what Jim Sinclair has said from day one:  "QE to infinity".

 

 

Thu, 09/13/2012 - 13:36 | 2790703 redpill
redpill's picture

You didn't mine that

Thu, 09/13/2012 - 13:37 | 2790711 Pladizow
Pladizow's picture

"The collapse of the people’s confidence in the created money, which was forced upon them by legal tender laws, will have a bad effect upon the government. It would be to the advantage of those really in charge to avert a total loss of confidence in their created money, to declare bankruptcy, initiate a deflation, returning so much wealth on the dollar and issuing a new redeemable one, if only to continue their power over us. It is inevitable, we will see a tremendous depression and a return to gold and silver as wealth mediums of exchange – it has always gone that way. – Money :The Greatest Hoax on Earth, Merrill Jenkins, 1971, Pg 150.

Thu, 09/13/2012 - 13:42 | 2790737 bania
bania's picture

bernank: my bff... my hero.

Thu, 09/13/2012 - 14:39 | 2791179 PAWNMAN
PAWNMAN's picture

Throw in a heavy dose of anarchy!

Thu, 09/13/2012 - 14:05 | 2790923 Karlus
Karlus's picture

Someone else mined that

Thu, 09/13/2012 - 16:33 | 2791941 Cast Iron Skillet
Cast Iron Skillet's picture

it's mine, anyway.

Thu, 09/13/2012 - 13:42 | 2790706 Kitler
Kitler's picture

Quantitative Easing = Quantitative Fleecing of "We the Sheeple"

Bernanke is an S.O.B. > Saviour Of Banksters!

Elderly pensioners are S.O.L. > Shit Out of Luck!

Thu, 09/13/2012 - 13:45 | 2790752 Peter Pan
Peter Pan's picture

An oz of silver costs $5 to take out of the earth and is valued at $35.

The cost of producing 35 fiat dollars is 10c per note or $3.50. Even less in bigger denominations.

So what is your point?

Thu, 09/13/2012 - 13:53 | 2790821 SemperFord
SemperFord's picture

You must be a newbie, RoboHomo used to say silver was useless because you could dig out an ounce for $5.

Fri, 09/14/2012 - 03:50 | 2793717 Vlad Tepid
Vlad Tepid's picture

Don't leave out MathMan.  That was his whole mantra.  Five dollars, every post.  All the while silver shot up to $50 and he lost his shirt.

Thu, 09/13/2012 - 14:05 | 2790927 Bastiat
Bastiat's picture

An oz of silver costs $5 to take out of the earth

Which earth?

Thu, 09/13/2012 - 14:26 | 2791072 Quinvarius
Quinvarius's picture

Not this earth.

Thu, 09/13/2012 - 15:57 | 2791725 elvinodiablo
elvinodiablo's picture

What does it cost JPM to take it out of their ass?

Thu, 09/13/2012 - 14:02 | 2790891 hedgelessWhoresMan
hedgelessWhoresMan's picture

Forking A

Thu, 09/13/2012 - 14:04 | 2790915 NoTTD
NoTTD's picture

Gold is so big it has its own gravity, baby!

Thu, 09/13/2012 - 13:37 | 2790714 vast-dom
vast-dom's picture

all i want to know now is when the R2K heads to zero.

Thu, 09/13/2012 - 13:22 | 2790593 Vagabond
Vagabond's picture

US dollar through the floor!

Thu, 09/13/2012 - 13:26 | 2790637 LMAOLORI
LMAOLORI's picture

 

 

 

One of two things are coming the greatest depression of all time if obama is re-elected or

The Gold Standard Is Coming

Thu, 09/13/2012 - 13:28 | 2790658 Spastica Rex
Spastica Rex's picture

Mittens will enact a gold standard?

Interesting dichotomy you present there.

Thu, 09/13/2012 - 13:46 | 2790760 LMAOLORI
LMAOLORI's picture

 

 

I know your an O Bot I've seen your posts snicker. Mitt wouldn't end up having any other choice but like I said there's always option number one the greatest depression of all times with your Messiah especially given what the chair satan just did. 

 

Thu, 09/13/2012 - 13:59 | 2790860 Spastica Rex
Spastica Rex's picture

And I know you have an IQ under 75; I've seen your posts.

Thu, 09/13/2012 - 14:26 | 2791070 12ToothAssassin
Thu, 09/13/2012 - 14:45 | 2791077 LMAOLORI
LMAOLORI's picture

 

 

Can't handle the truth O Bot I got down arrows when I pointed out ben would print to save obama too ROFLMAO

 

Is President Obama's Depression Coming Our Way?

 

Thu, 09/13/2012 - 13:41 | 2790731 Shameful
Shameful's picture

I will guarantee the US will not go back on a gold standard this decade.

1.  The gold standard is anathema to the military/banking complex that owns the political class in the US.

2.  You can't print gold!  Hard to steal via the inflation tax when you can't print the medium of exchange.

3.  There is not a significant portion of gold left in US treasury.  Sure it's on paper, but getting an audit is impossible.

A return of the gold standard in the US can only happen under a few auspices.

1.  All wealth in the US is gone.  All assets must be cleanly stripped away, and then the owners of said assets and the slaves...err citizens to be productive once more.  Basically a system restart.

2.  There is a global gold backed reserve currency that the US would participate in.

 

So unless they can suck all the wealth out of the US in the short term I cannot see a restoration of the gold standard happening.  Be like Marc Faber, be your own central banker and go on a gold standard.

Thu, 09/13/2012 - 13:54 | 2790828 LMAOLORI
LMAOLORI's picture

 

 

Umm have you noticed how much wealth they already sucked out of the U.S.?  Not too much more to go 

 


America's lost trillions

US incomes fall to 1989 levels

Thu, 09/13/2012 - 14:05 | 2790929 nope-1004
nope-1004's picture

Shameful,

Although a gold standard would bring some honesty back, I agree with you that it likely won't happen.  Where I think this is going is a pure digital transaction based system, so the gov't can document EVERY transaction to monitor movement of goods, as well as efficiently tax every trade.  How it's repriced or revalued - well, haven't figured that out yet.

The Gold standard is just too difficult to go back to now.  No question gold is heading many mulitples higher, but that doesn't mean that TPTB will freely accept it as "the standard".

 

Thu, 09/13/2012 - 14:22 | 2791046 Shameful
Shameful's picture

You are likely correct in that is what they would like.  We already have a digital currency in many respect, but also a physical one.  If the physical connection to the paper is cut then it's already a purely digital system which makes things like VAT much easier to implement.  The problem with a digital currency is once they no longer have even the pretense of a physical paper money supply the money supply can and will jump to infinity.  It's pretty clear that they would not be able to control themselves and would instantly print like mad to buy up assets, and the currency would crash, again.  This happens once, maybe the people sign on again, but happens over and over again and the masses dumb as they are will look for alternatives.

Thu, 09/13/2012 - 14:15 | 2790995 Shameful
Shameful's picture

There is plenty left.  Wait till after the 401ks are nationalized, a special Federal sales and property tax is implemented, and it becomes illegal to buy non US financial instruments/investments.  Until then, there is still blood left in the corpse.  If there is plenty of wealth to pillage in developing nations like in SA then the good old US of A has a few more rounds of looting left to go.  Besides there is still places that need to be conquered/standardized and the US is the global enforcer.  Not saying you should get prepped for the inevitable, but that it isn't going to happen tomorrow, or next month, or probably even next year.

Thu, 09/13/2012 - 19:43 | 2792697 bruinjoe93
bruinjoe93's picture

Good points.  The U.S. will fight going back to the gold standard.  However, the U.S. will one day realize that it is not stronger than the market.  Either the bond market or currency market (China, Russia, India, Brazil) will force the issue.  There's a good reason why China and Russia are hoarding gold.  The answer will be revealed in the near future. I don't know what the answer willl be but I have a suspicion that precious metals will rise sharply and violently.

Thu, 09/13/2012 - 14:05 | 2790925 Bay of Pigs
Bay of Pigs's picture

PAGING KITO!

Where the fuck are you?

Thu, 09/13/2012 - 14:32 | 2791118 kito
kito's picture

see below................unlike our esteemed leaders, i admit to faulty forecasting...................

Thu, 09/13/2012 - 13:26 | 2790642 4realmoney
4realmoney's picture

Get your silver while you can!! Over $18k/box! https://www.texmetals.com/silver-eagle-monster-box.html

Thu, 09/13/2012 - 13:27 | 2790645 CrankItTo11
CrankItTo11's picture

To the moon? That's SO 2011. To Mars! 

Curiousity killed the $

Thu, 09/13/2012 - 14:01 | 2790877 Strelok
Strelok's picture

Barbarous relics to the moon!

I can't help it, every time I hear barbarous relic I LOL.

Thu, 09/13/2012 - 14:27 | 2791083 Ponzified Plebe
Ponzified Plebe's picture

Standing at the edge of the end of the world... and the view is, well bleak.

 

While I am happy to see the value of my stack increasing, I am finding myself looking the Chairstain's decision to ease with a knot in my gut, because this is where the beginning of the end seems like it is transitioning to the rising action and climax that predates "the end". The world my kids exist in will inevitably become darker and more conviluded before it gets better. Rising silver, great. Rising bread, milk, gas, and all of the other stuff we need; not so good at all.

Thu, 09/13/2012 - 13:19 | 2790568 Snakeeyes
Snakeeyes's picture

Bernanke like to create asset bubbles (metal, stocks) at the expense of inflation, risk, and seniors getting killed on their savings.

http://confoundedinterest.wordpress.com/2012/09/13/fed-pulls-the-trigger-with-new-bond-buying-program-40-billion-in-mortgage-backed-securities-per-month/

Thu, 09/13/2012 - 13:19 | 2790569 HelluvaEngineer
HelluvaEngineer's picture

Yes, I think this move today did it.  No going back now.

Thu, 09/13/2012 - 13:22 | 2790594 12ToothAssassin
12ToothAssassin's picture

Third times the charm

Thu, 09/13/2012 - 13:24 | 2790623 gojam
gojam's picture

Half a Trillion $$$$$ a year !

Thu, 09/13/2012 - 13:52 | 2790806 tmosley
tmosley's picture

For now.  Once Twist ends you can bet they will raise it.  At that point, you can bet on a trillion a year, at least.

Thu, 09/13/2012 - 14:02 | 2790888 Strelok
Strelok's picture

$1,527 per US resident. 

Thu, 09/13/2012 - 13:24 | 2790584 Haager
Haager's picture

How many people were kicked out of the rally at 12:10? I saw gold at about 1705 then, now +$60. Those will surely shoot themselves...

 

Oh, and unless s.o. is able to frontrun the easings it seems clear that there will be a top of PMs the next days. When South Africa gets the mines back to normal...

Thu, 09/13/2012 - 13:22 | 2790591 koaj
koaj's picture

$5 diesel will do wonders for the economy

Thu, 09/13/2012 - 13:32 | 2790680 malikai
malikai's picture

I'm sure it will do wonders for Romney's campaign and Goldman's bonus pool.

Two birds with one stone.

Thu, 09/13/2012 - 13:40 | 2790729 LMAOLORI
LMAOLORI's picture

 

 

Like I posted yesterday and in another post earlier today follow the money food/gas/heating fuel well hyperinflation is on the way unless we radically change course and vote out obama that would hold it off for awhile.  You can call me Sybil but I think it's wise for you to prepare.  Store Food, Weapons/Ammo items to barter and if you can you would be wise to buy a place with a little land out from the urban areas.

Thu, 09/13/2012 - 15:41 | 2791617 OneTinSoldier66
OneTinSoldier66's picture

Republicans/Democrats = The Federal Reserve Note Party

Thu, 09/13/2012 - 13:22 | 2790597 thatthingcanfly
thatthingcanfly's picture

On another thread, I placed my bet that we blow through $1800 by the end of the afternoon. It now looks like we'll be there by the end of the lunch hour.

Good day to be hedged against zero.

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