Citi Predicts Gold At $3400 In "The Next Two Years", Potential For Move As High As $6000

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Wed, 12/14/2011 - 16:29 | 1980198 Magnix
Magnix's picture

I heard that many times before! BS!

Wed, 12/14/2011 - 16:33 | 1980212 strannick
strannick's picture

I heard it many times before too. As in gold's going to $700! 1000! 1500! 1625!, and to hear each of these predictions lambasted as the height of lunacy. Roubini will soon be so tweeted by goldbugs he will turn yellow and feathery with rage. So yeah, gold is going nowhere but up

Wed, 12/14/2011 - 16:36 | 1980244 Duck
Duck's picture

Dow 36,000!

Wed, 12/14/2011 - 16:40 | 1980253 Pladizow
Pladizow's picture

Suspicious timing - especially if we apply the Tyler's's's's's's' Goldman Prop desk theory!?

Wed, 12/14/2011 - 16:58 | 1980373 trav7777
trav7777's picture

well paper has not decoupled from physical and silverbugz got MONKEYTORCHED today

Wed, 12/14/2011 - 17:01 | 1980392 Killtruck
Killtruck's picture

I'm not sure what that is but it sounds bad. My stacks appear unfazed, however, and are just as shiny as they were yesterday.

Wed, 12/14/2011 - 17:06 | 1980426 bob_dabolina
bob_dabolina's picture

But an ounce of silver buys less than it did last week. 

Or am I wrong on that?

If you're looking for something shiny may I suggest silica?

Wed, 12/14/2011 - 17:14 | 1980464 mrgneiss
mrgneiss's picture

...... why don't you try pyrite, otherwise known as trolls gold?

Wed, 12/14/2011 - 17:20 | 1980495 MillionDollarBonus_
MillionDollarBonus_'s picture

I have composed a draft letter to the white house expressing my concerns about this slow recovery. I just wanted to run it past you so you can tell me what you think:

"Dear Mr President,

I am writing to you as a concerned citizen. Despite my unwavering support for your administration and the values it stands for, I am increasingly agitated about the sluggish pace of this economic recovery.
I am worried that congress is cutting spending too much and too fast and that this is damaging economic growth and I strongly suggest that without further fiscal stimulus we could be headed for a double dip recession. What is the government doing to promote growth and create jobs? With due respect, I want answers and will not be satisfied with smooth political talk. 

Yours Sincerely,

....."

Just wanted to run this by you guys and see of you had any suggestions. I know it's pretty harsh but I'm really concerned that our government simply isn't doing enough to support this fragile recovery.

Wed, 12/14/2011 - 17:23 | 1980503 redpill
redpill's picture

Coordinated Chicago/Shanghai margin hike in 5, 4, 3.....

 

Wed, 12/14/2011 - 17:44 | 1980595 gmrpeabody
gmrpeabody's picture

"I know it's pretty harsh but I'm really concerned that our government simply isn't doing enough to support this fragile recovery."

Yes..., that is a bit too harsh. BTW.., I think you better get that thermometer up your butt quick, cause you are very sick!

 

Wed, 12/14/2011 - 17:48 | 1980618 Pladizow
Pladizow's picture

Put a stamp on it!

Wed, 12/14/2011 - 17:55 | 1980641 WonderDawg
WonderDawg's picture

This might be MDB's best post yet. Bravo, sir! Fuck, I love subtle sarcasm.

Wed, 12/14/2011 - 18:19 | 1980737 BaBaBouy
BaBaBouy's picture

PILE IN, Bitchez ...

Wed, 12/14/2011 - 20:15 | 1981157 Troll Magnet
Troll Magnet's picture

DO NOT SEND THAT LETTER, DUDE!!!

i wouldn't want you to get assassinated or permanently detained.  never upset the king, dude.  never.

Wed, 12/14/2011 - 20:41 | 1981292 PersonalRespons...
PersonalResponsibility's picture

ssssshhhhhhhh!

Wed, 12/14/2011 - 18:12 | 1980705 Papasmurf
Papasmurf's picture

Lick it

Wed, 12/14/2011 - 18:58 | 1980873 Overflow-admin
Overflow-admin's picture

 

 

Linda Green
Vice President
Mortgage Electronic Registration System

Wed, 12/14/2011 - 17:40 | 1980578 RichardENixon
RichardENixon's picture

I suggest you throw in a line about being promised dollars dropped from helicopters and not standing for anything less.

Wed, 12/14/2011 - 18:00 | 1980659 Schmuck Raker
Schmuck Raker's picture

The White House will be more responsive if you sign it Million Dollar Contributor.

Wed, 12/14/2011 - 18:15 | 1980726 topcallingtroll
topcallingtroll's picture

You should recommend he continue to try to raise taxes on the rich cuz they just hoard money and keep it out of circulation, thus harming the economy.

A committee of government experts should be formed to tell us how best to spend and invest these new tax monies.

Wed, 12/14/2011 - 18:07 | 1980693 WonderDawg
WonderDawg's picture

You forgot the part about "suck my turgid member". You can put that as the P.S.

Wed, 12/14/2011 - 18:15 | 1980725 Freddie
Freddie's picture

The opening is wrong.  Start with "Dear Son of Allah."  Now that is better.

Wed, 12/14/2011 - 18:31 | 1980770 TheFourthStooge-ing
TheFourthStooge-ing's picture

I found a video of Freddie on youtube:

http://www.youtube.com/watch?v=SBHEKFxPb7c

 

Wed, 12/14/2011 - 19:33 | 1981002 peekcrackers
peekcrackers's picture

How about " dear son of bitch  allah peanut butter sandwitch !

Wed, 12/14/2011 - 19:01 | 1980885 goldfish1
goldfish1's picture

it's pretty harsh

Very good.

Wed, 12/14/2011 - 19:04 | 1980900 txsilverbug
txsilverbug's picture

"Despite my unwavering support for your administration and the values it stands for"

Take this out completely.

"I am increasingly agitated about the sluggish pace of this economic recovery."

revised to:

"Your a  fucking tool who can't even tie his own shoes, your recovery sucks donkey ass"

 

"What is the government doing to promote growth and create jobs? With due respect, I want answers and will not be satisfied with smooth political talk. "

revised to:

"It is not the governments job to promote growth and create jobs. Let the free market decide, not your little fucking pea brain."

 

Add this:

"When Moochelle sucks your dick, does she swallow?  Ive always wondered"

 

Might also write that letter in a green crayon on construction paper, I hear he has a hard time reading big boy pen and paper.

 

 

 

Wed, 12/14/2011 - 20:19 | 1981174 Troll Magnet
Troll Magnet's picture

oh, duuuuuuuuude!  you are SO gonna be assassinated now!  or permanently detained. 

Thu, 12/15/2011 - 15:21 | 1984329 mkkby
mkkby's picture

Reply - none.  No need since 99.9 ARE satisfied with smooth or even stupid political talk.

Wed, 12/14/2011 - 17:15 | 1980469 JW n FL
JW n FL's picture

 

 

so does gold.

platinum $1,400(ish).. and going down further?

BEEP.. BEEP.. BEEP.. BEEP.. <--- that is my truck driver backing up.

You buy Paper anything.. with the World Credit Markets Freezing Up! and I will buy metal.. see ya in 6 months.. lets compare K-1's!

Wed, 12/14/2011 - 17:21 | 1980479 bob_dabolina
bob_dabolina's picture

The largest holders of gold are among banks and European sovereign nations. 

While you're backing the truck up, they are rolling you over.

I said this was going to happen when gold was at 1,900 but no one here wanted to listen and instead decided to ad hominem attack me. 

He who laughs last laughs best bitchez. ha. ha.

Wed, 12/14/2011 - 17:23 | 1980501 mrgneiss
mrgneiss's picture

If you think deflation is here to stay, you'd better check your history.Deflation or inflation/hypyerinflation it is just a policy choice.

21 countries have experienced hyperinflation in just the last 25 years:

http://bit.ly/sSi4Xr

These countries have experienced severe deflation over the past 50 years:

Japan.

Why does the government hate deflation and lower prices?

Because it lowers their tax revenues, it gives private citizens back their purchasing power (makes money more valuable to hold and save and invest) in their money and it lowers asset prices and other other consumer prices for goods and services we need and want.

Deflation does not allow governments to use inflation as a tax to steal our purchasing power (inflation is 100% pure government policy and is really nothing but an invisible, hidden government tax) and it lowers the taxes they collect on normal things like wages, property tax, etc.

This is one of the major reasons why there is so much effort by the Fed and Federal Government to try to re-inflate the housing bubble and to create inflation.

It’s in the government’s interests to create inflation (not too much inflation at once or too many people will wake up and realize and also dump the paper, fiat currency).

The bottom line is modern governments and central bankers have not allowed deflation to occur without first trying to interfere heavily in a country’s economy and markets and to first create inflation.

History is strewn with countless examples of interventionist policy by governments where the free market was not allowed to heal itself and purge itself of the bad investments and misuse of capital.

So if you believe deflation will prevail as Bob dabolina does, sure, sell your precious metals. If you believe as I do that printing to infinity will occur, hold onto them and buy on the dips.

Wed, 12/14/2011 - 17:33 | 1980520 bob_dabolina
bob_dabolina's picture

Baby...

Bob_D told you to sell that when Gold was @ 1,900 and silver hitting 49. 

Don't get it confused.

http://tradeonfire.blogspot.com/2011/09/gold-linear-regression.html

http://tradeonfire.blogspot.com/2011/09/profile-on-gld.html

Wed, 12/14/2011 - 17:49 | 1980623 mrgneiss
mrgneiss's picture

Silver - the only commodity in the world still BELOW it's 1980 inflation adjusted and nominal high - I'm not worried.

Gold - just check out this chart for India - the story is similar for China and most other developing nations:

http://i51.tinypic.com/2hxqc9h.png

Dollar vs gold long term chart that even a trained monkey could extrapolate from:

http://goldratefortoday.org/30-year-gold-chart-dollar-gram/

long term dollar purchasing power:

http://observationsandnotes.blogspot.com/2011/04/100-year-declining-value-of-us-dollar.html

 

Wed, 12/14/2011 - 17:51 | 1980630 bob_dabolina
bob_dabolina's picture

Do whatever you want. It's your moolah.

 

Wed, 12/14/2011 - 23:20 | 1981920 tarsubil
tarsubil's picture

You were correct in calmly calling the short term tops in gold and silver. But next time you could be wrong and sooner or later you will be wrong and you will be selling your life boat for a pair of cement shoes. Be careful.

Wed, 12/14/2011 - 18:11 | 1980698 BLOTTO
BLOTTO's picture

'dabolina' = 'jealous'

Its true! i read and studied this behaviour in highschool. What else is it - unless your a troll.

Anyone spending this much time on a website (and not adding any value/info) - and its not porn or poker or sports - is a troll or jealous.

 

Wed, 12/14/2011 - 18:17 | 1980721 bob_dabolina
bob_dabolina's picture

The key to your comment is highschool.  You also spelled 'your' when it should be "you're"

What am I jealous of? Losing money? 

I wish I lost as much as the people who took the opposite side of my trades. Good thesis....good luck in college.

Learn grammar/spelling before you start criticizing people. 

Wed, 12/14/2011 - 18:22 | 1980748 topcallingtroll
topcallingtroll's picture

I think bob adds something. We all know the gold to da moon theory. Good to hear some different versions. I documented buysin zsl on this site one week before the great collapse. Best trade i ever made short term.

I am seriously considering buying gold at support, but gold hates me and tries to hurt me now, so I am not sure if I should.

Wed, 12/14/2011 - 18:29 | 1980766 catacl1sm
catacl1sm's picture

I think you guys are confusing a long-term view of gold and its inherent value in case of a SHTF scenario. Bob_d is looking at it from a trading perspective. From a TEOTWAWKI perspective, hanging on to your gold for dear life is the best move. From a purely trading perspective (short-term) Bob_d is the winner. Apples to apples, dust to dust, bitchez.

Wed, 12/14/2011 - 19:29 | 1980985 teolawki
teolawki's picture

"From a TEOTWAWKI perspective, hanging on to your gold for dear life is the best move"

From a TEOLAWKI perspective, hanging on to your gold for dear life is the best move.

There...fixed it for ya!

Wed, 12/14/2011 - 19:31 | 1981000 FEDbuster
FEDbuster's picture

Still wonder what the "price" discovery method would be in an economic collapse.  Will your one oz. gold eagle buy the whole cow or just a 5 lb. roast.  In Cormac McCarthy's book "The Road" (granted the worst case SHTF scenario) gold has no value to the survivors.  Food, weapons, clothing, etc... become the valuable items.  I am still reading "When Money Dies" which provides insight into post WW1 Europe.  They were trading gold watches for sacks of potatoes, grand pianos for sacks of flour, etc...  So who knows what anything will be worth?  I know, my family needs water, food and shelter to survive, so I will keep concentrating on my ability to provide those items in our uncertain future.

Wed, 12/14/2011 - 21:40 | 1981525 FMR Bankster
FMR Bankster's picture

Depends on your resources really. First food, water, shelter, things to trade, firearms, and stay close to family. Once you have those gold and silver will hold value for after things are reestablished. Recent breakdown in Bosnia (1992-95) says silver, gold, are not the first things to own.

Wed, 12/14/2011 - 19:06 | 1980905 peekcrackers
peekcrackers's picture

for the papper lovers of the world .. if you dont want Au AG ... at least buy some iron and Led

Wed, 12/14/2011 - 17:47 | 1980611 BLOTTO
BLOTTO's picture

They can't roll over our will.

Wed, 12/14/2011 - 17:53 | 1980635 bob_dabolina
bob_dabolina's picture

Tell that to the Enron investors.

Wed, 12/14/2011 - 18:01 | 1980665 tmosley
tmosley's picture

Can't tell the difference between silver and paper.  This is why you will come out of this with nothing.

Counterparty risk, bitches.

Wed, 12/14/2011 - 18:06 | 1980688 bob_dabolina
bob_dabolina's picture

Unfortunately the counter part risk is society. 

I have guns. You have silver. Who wins? 

Wed, 12/14/2011 - 18:14 | 1980708 akak
akak's picture

So you admit that you would, or will, resort to brute force and theft in the case of a financial collapse?

You are pathetic.

Wed, 12/14/2011 - 18:25 | 1980753 Freddie
Freddie's picture

This guy is a troll.  However, when things start falling apart - you will be shocked at how people will behave.  If you have a wife, daughters, sisters, nieces or aunts - make sure they are armd and know how to use a gun.

People will just be taking things like animals if things fall apart.  People voted for this in Nov. 2008.  

Do NOT follow this link or you will be banned from the site!