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CME Hiked Cleared OTC London Gold Forward Margin By 40% Yesterday
There is much talk of a gold margin hike this morning. For one thing this is not news: it happened early afternoon yesterday. Second, it impacts a relatively innocuous contract. But of course, in the footsteps of the Chairman, at this point it is not what one does, but what one promises to do. As such this move is seen as merely a telegraphing of what the CME will do to GC should gold spike over $1900. We say do it already, and make gold margin 100%. What will the CME do then when everyone moves to trade the contract in Asia, or is happy to trade with 100% cash collateral?
A whole lot of other margins changed here
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Nice catch, Tyler!
Here's how to crash the price of gold, if they really want to:
(short answer: they won't be able to do it)
http://azizonomics.com/2011/09/08/how-to-crash-the-price-of-gold/
<-- 0% Margin.
<-- I like to gamble.
Live DEBT Free Or Die!
Stock contracts can be settled in US Dollars or Gold. NO OTHER items are widely accepted by the trading floor to settle contracts. As such, gold = money. Make gold 100% margin and be done with it.
turd why is gold stuck?? europe is in a freefall this morning. shirley the dollar cant be the safe haven!!!!
Who's Shirley?
Laverne's buddy (and isn't it "nanny nanny boom boom"?)
Don't know but she can't be serious.
But will she fart?
Yeah gold is "stuck" at $150 higher that it was a month ago, $200 higher than it was two months ago, and $600 higher than it was a year ago... you fucking troll.
Jack margins to 100% and screw the paper... Time to find out what physical will trade for in unmanipulated markets. Central Banks don't have the back bone to find out... plus they will find they are out of jobs.
BTW, gold bounced off ~$1830 and is now trading ~ $1860... Suck on that Benny!
The harder they work to slam it down, the harder I work to get cash to buy more. Take it down, I'm flush right now.
I'll second that position. Bring it on mother fuckers. Gotta do something with these dirty whore dollars.
CME is like the bully in the school yard...As soon as someone confronts them....i.e. 100% they will run off crying......
<El Gordo >
Bingo, piss on them.I am sick of their crap, trying to FORCE U.S. citizens into their BOGUS PAPER PONZI BS.
As soon as the Asian version comes on line full tilt,CME will be out of work.
I will do all my purchase thru them of I am not fully vested here on the Dips first.
They are going to allow purchases, and ship, 10oz contracts/bars.
Cash out in the RMB, or take delivery, the CME is in a world of shit.
Unfortunately they won't simply because to allow some margin is to enable their manipulation. But we can dream.
Think about what a fisherman does with his or her lure. The whole reeling it in and letting it out thingy get's the fish stirring.
Think about what a fisherman does with his or her lure. The whole reeling it in and letting it out thingy get's the fish stirring.
Great way to put it.
manipulation through GLD (and related vehicles) requires no margin.
I think T.D. meant make margin 0.00% not 100%. Anyway..... They can't set margin to 0% b/c that's the only tool they have to slow down gold at this point. Set allowed margin to 0% and gold moves straight to 2,500. Maybe it goes there anyway (?) but at least it doesn't happen at warp speed.
Ura Bonehead
Speaking for TD now?.
No WE want 100% margins, to stop their silly ass games.Get rid of the small timers.
It will get rid of bitches with no money ,or do not want to take the possession of the real deal.
Fakes is what they are.................they move margins to lower the spot, it worked well in slilver, it will not work in Gold.(for much longer).
Like I said, when the Asian exchange opens, CME will be USELESS.
Sick of these eleites thinking we can't let ANYONE else into our club, so we screw them, any way we can, and this is one way.
Gold is going well past $2,500.00 CME, No CME,(unless a miracle happens)...........don't look for it.
What makes you think the Asian exchanges won't do the same thing?
Take a deep breath and park the anger. YOU may want "100% margins" but I suspect what T.D. was suggesting (and I would agree) is the exchanges should go ahead and "stop the silly ass games" by setting available margin to 0.00% (read: NO margin, 100% cash market....). Right?
It's not complicated. Really.
For the record, I've never read a post that suggests you or anyone else shouldn't be allowed to own gold, silver, bricks.... Join whatever club you want to join. Caveate emptor.
P.S. Margin requirements are moved NOT simply to "lower the spot" but to lower volatility and cool off over-heated markets. If price gets too far out of balance with margin requirements, risk goes up, traders are not 'sized' with regard to risk for a potential correction.
You mentioned silver. Silver is, of course, a thinly traded market so changing available margin (increasing maintenance) will have a greater impact. Just remember that a 5% drop in silver doesn't just impact silver. Copper, sugar, wheat, crude... are other risk-on positions impacted.
PEACE. REMEMBER 9/11.
Turd called it! nice catch!
The sooner they try to stop the rise and move it to 100% the better then they won't be able to stop it LOL what fools
"No pasarán!"
"Ils ne passeront pas/On ne passe pas"
"Sie werden nicht durchkommen!"
"They shall not pass!"
http://www.entendance.com/forums/viewtopic.php?f=6&t=784&p=19224#p19224
Good post ! Classic... I'm multti linggual"
Oro femmine!Chiennes d'or!
Gold-Hündinnen!
Gold bitchez!
Sorry to ask, but can someone explain to me why margins needing to be hiked all the time? Is their fear that there's too much speculation? It feels a little like barricading a door of a burning building while people are trying to get out. Since everyone is rushing to gold and tbills, should there be higher margin requirements for tbills as well?
Reduces Volatility < ( SP) ?
They have no concern about raising EQUITY margin though, apparently equities are all just fine and not speculated on at all. But that troublesome GOLD, wow yea theyve got to keep a lid on that sucker, lots of 'speculators' around you know.
They want to force speculators out of gold and into something else. This reduces the demand for gold.
exactly. drives me nuts when i hear analyst claiming gold is in a bubble. Bubbles occur when policy drives resources into sectors, industries, or investments that would not occur in the absence of the policy. There are policies in place that discourage investment in Gold. people that claim gold is in a bubble need to read some Austrian economics.
"Bubbles occur when policy drives resources into sectors, industries, or investments that would not occur in the absence of the policy. "
Well put. Lets' count the ways that government has subsidized the housing sector.
Bicycle Repairman
Yep, it's called the market, Treasuries, and Bonds.
So when the merry go round stops, your lose your ass,and they own you TOTALLY.
Ignorance is easily cured through educating, stupidity is forever.
Feels good to fight the good fight against human filth at these criminal cabals.
Yep, nice to know your small action of picking up some gold coins REALLY pisses off a room full of joo banksters!
Once again, Karl Denninger has it right:
http://tickerforum.org/akcs-www?post=193853
If Gold is money, why do you need leverage? As Karl says, you must be consistent in your arguments....
Denninger hates gold
http://www.youtube.com/watch?v=WCwWfSYBwOQ
Denninger doesn't hate G*ld. It is impossible to hate an inanimate object. He hates the liver thief Steve Jobs, and the "so-called" Doctor Ron Paul. But not G*ld.
Look, Karl is just pointing out the double standards of the G*ld Bugs. You can't say that G*ld is a currency and also want to use leverage on it.
It's hypocritical horseshit. It's like insisting that public schools be abolished and then sending your daughter to one. Or encouraging your followers to boycott Chinese companies and then boasting to them that you bought a laptop from a Chinese company.
Bullshit. He hates GOLD. He hates gold bugs because they present reasonable and TRUE arguments that blow his dumb ideas out of the water.
He's also pissy because he has been proven wrong time and again. He's like a child with eyes shut tight and hands over his ears going "LA LA LA GOLD SUCKS DOESN'T MATTER WHAT YOU SAY LA LA LA".
I don't even know what this bullshit is about "wanting to use gold as a currency and also wanting to use leverage on it". Who the fuck is using leverage? Get the fuck out of here.
The point is, the g*ld bugs who listen to the hucksters are going to get horse-fucked when 2008 comes back.
Can you say D-E-F-L-A-T-I-O-N?
When you think you will need G*ld, you will need bullets and BBQ sauce (to eat zombies with) more.
And anyway, when TSHTF and zombies are in your yard, your REAL PROBLEM will be the IRS who will be knocking on your door to tax your gold at 100% OR MORE!
I will hold gold even in a deflationary environment because I will retain my purchasing power. Nominal gold prices don't mean shit to a tree. It's purchasing power that matters!
Yeah, okay Karl.
Your fear mongering shit stinks to high heaven. Entirely wrong on 2008 too. It was Bear Stearns not deflation.
You (Karl) keep saying that, but it never happens.
How does it feel to be so continuously and totally wrong that you have to ban anyone who even MENTIONS THE SUBJECT to keep your fragile yet overinflated ego intact?
Douchinger is nothing but a coward and a bully who cannot stand reasonable opposing opinions --- especially those that blast his absurd deflationary propaganda out of the water. He is utterly, completely, laughably ignorant of monetary history and theory, and keeps tripping over his clown shoes when he even tries to expound on the subjects.
Denninger is a paper-loving slave to the financial and monetary status-quo.
You slaves are all the same , step out of the system become a sovereign, and then tell the IRS to Fu*k off
you are right on this one...Douchinger hates gold. He refers to it as a paperweight without utility...which is kinda what I refer to his head as.
Douchinger made his money pushing paper in the .com boom. He's a paper bug. He wants "capital markets," meaning leverage, ponzis, all of it.
rtfm--wtf are you talking about. what gold bug leverages anything? physical gold buyers call the bullion dealer, wire cash in full, and receive their physical gold.
"so-called" Doctor Ron Paul?
He has a medical degree from the Duke University School of Medicine.
He worked as a flight surgeon in the Air Force.
He's delivered over 4,000 babies.
how is he a 'so-called' doctor. He's a MD with a specialism in OB/GYN.
Now if you had to say 'so-called' nobel peace prize winner Obummer, I might agree.
Wah wah wah! Ron Paul is this! Ron Paul is that!
Ron Paul also claims to be on the Sub-Committee on Stringing Up Bernanke, but whenever he has the opportunity to skull-rape him, he acts like the mumbling septegenarian buffoon he is.
I consider myself a libertarian, but now I understand why Karl bans all you RP-bots from his forum.
A Libertarian who supports censorship?
Like KD, I see why you are such a douchebag on gold now.
whatever Douchinger. You were wrong. About almost everything.
Nobody listens to you nor cares what you say anymore. You banned people over predictions they made which diverged from yours and those people's predictions came true (MINE, motherfucker).
Slink on back to your stupid TF echo chamber, bitch
RTFM,
You can't say that G*ld is a currency and also want to use leverage on it.
Gold is NOT a Currency dude, it's MONEY.
Big Diff.
Since when is forex traded without margin?
If gold is money, why not apply the forex rules?
Anyone listening to anything Denninger has to say about gold still finds themselves at the starting line waiting for the pistol to go off...
+1
Not true. Karl's nightly videos (you need a G*ld Star for those, which is a no-brainer at just SIX CENTS A DAY) allow me to be ahead of the market, and be open to all possibilities.
Karl just lets you be aware that the market can do anything - it can go up OR down. Or sideways.
Here's an example:
http://www.youtube.com/watch?v=hM79IhkbbAg&feature=relmfu
Karl has a lot of good ideas, but he is completely wrong on gold. Unfortunately being wrong on gold has over-shadowed all his good ideas. He'll never change. He's too proud.
RTFM needs to respond to the arguments that first, forex markets are leveraged, and they are money, and second, that gold buyers buy the physical and don't leverage at all.
RTFM? Response?
No response = KD sux
KD=sux
KD = Kredibility Destroyed
Maybe Karl can do a dream sequence like they did in Dallas and everything he said since the Dot.com years will be a dream.
Gold and silver have been going up for 11 years now. It's called a Bull Market.
You are full of shit KD.
As Karl says, "It works until it doesn't".
Cash is also a position. You can never go broke holding cash, folks.
You can if the cash currency you hold becomes wallpaper. Ask history.
Oh yeah, like we have been hearing since forever how the Dollar Index is headed to 40!
Well, those betting on that have not only been proven wrong, I see this morning that they got SLAMMED.
AGAIN.
TPTB are spending their time painting the tape and not building a real economy. Gold is not going down, either. Its a holding pattern. How long can they keep that up?
The bad housing debt has to be liquidated. The banks have to go down. The bondholders have to take their losses. The good assets must be used to form new banks of a classical nature. The government has to either repudiate or pay its fiscal debt. Only then will shit happen and only then will gold go down.
Measured in units of the currency itself, that is true. Many Zimbabwean trillionaires stand (starve) in testament to its veracity.
However, in terms of purchasing power, you may wish to substitute "inevitably" for "never" when referring to a fiat currency position.
are you fucking stupid? Cash is worth LESS now than it was 10 years ago.
It buys less shit that you need. Buys LESS FUCKING BULLETS.
I mean that is what you say you need if "TSHTF," right Karl? Bullets? Your precious FRNs buy less of those than 5, 10, 20, 30 years ago.
You can't go broke holding gold either. You can go broke following YOUR advice.
Trav, tell us how you really feel. Don't hold back.
Oh my - you put the original Harry Wanger to shame. Anyone who looks to KD as a guru instead of a fist pounding observer has more than a financial quandary.
denninger has a lot of intelligent things to say, but you have to realize, he is one of those guys that will cut his nose off to spite his face. Thats the mental mode he is in concerning gold. He's dead wrong on gold and his ego will not allow him to admit it...
The problem with Karl is that he's a classic narcissist (look it up). Though he is correct about many things, he is mainly all about his own ego. It's a psychological issue, he just thinks he knows it all. It's the reason he has to ban people who disagree with him. It's the reason he has what could be considered an irritating personality. He weirdly think TPTB read his faxes and rants. I doubt they know who he is - seriously.
Otherwise, I mostly enjoy his craziness. He makes some very interesting points that help piece the puzzle together, and for that I read him. But his echo chamber forum is just plain creepy! It is a dark world of sycophants and cowards who do nothing else but provide him with his 'narcissistic supply' (aka ass-kissing).
On another note, Karl - your web skills are awful - I've never seen seen such an aesthetically ugly site, and all those juvenile smilies (yech!). The clip art stinks too, and the the shot of your huge head next to that tiny, disproportionate microphone is just bad design. I'd suggest you get a macintosh (at least for design), but that is another of your irrational hatreds, you hate Apple like you hate gold. Emotions like hate should never be a part of your investment strategy - and that's your weakest area. Never get emotional about an investment - you should know that.
KD = day trader and wanna be economist...and, a gold hater.
KD trades on margin... but thats ok?
Exactly my thoughts as well, just go ahead and set gold margins to 100% cash!
correction its 35%
These STUPID FUCKS just won't learn, will they??? The jig is up. All they do is make it cheaper for the real players with cash, and delay the inevitable. Oh well. I guess I should thank them for bringing attention to my barbaric relics.
Wookie? vs Scrambled EGGS!
Buy on the dips baby.
now that they have the Libya gold in hand the games begin..did not take many deaths for the banksters to rob that country of the gold & oil assets..and stop the movement toward an African gold backed buck.
Mr Q bomb planes ok, threaten the FRN and down you go..this done in plain sight of the whole world with the peace movement silent.
the power the EE have is massive and it's effective.
sad days for human kind
The 'peace movement' is now in power so theyre silent about war to steal gold...bunch of nazis really is all they are.
Heck I'd buy gold at over 100% collateral.
Um.....you do all the time. It's called a markup over spot.
But I understand what you're really saying.
Depends who you are dealing with CD. You of all people should know that. Know your farmers, know your neighbors, know your coin dealers. Personally I am welcoming the return to a localized economy. Know your neighbors? got physical? you better.
I was thinking the same thing. The market would be safer than ever. The last thing governments want is an unmanipulated market. Gotta bend that bond yeild without breaking it.
Eventually it will be come obvious to a painfully significant number of the "risk-on" crowd that the ultimate gold-on-margin trade is to:
1. Secure a government grant/mortgage/loan/handout/subsidy
2. Buy physical gold coins and bullion
3. Run.
eventually, when sovereigns go TU and things like the CHF peg overnight fucks people out of 10% of their "cash", they will begin looking around for something that will hold value. In venezuela, people stockpiled appliances even.
CME paper gold trading is going to be an anachronism after PAGE ramps up for institutional investor trades an purely allocated basis -- within 90 days.
Then perhaps the CME is making hay while they are still relevant?
Gold and silver exhibiting nice fish hooks after the regular over-night takedown. For a serf like me, margins don't matter.
Did I mention I'm a white, born in USA barbarian, terrorist that's going straight to hell? My fucking corrupt government told me so.
Let's get "physical"! Olivia Newton-John
If you believe in the U. S. Constitution like myself you are White Al-Qaeda!
I am digalert.
C.D. and Cdad kick butt!
Most here assume that the government is on the other side and that gold is their enemy. The US government has a massive gold reserve and if it were revalued to a much higher number and remonitized it would go a long way to solving the US debt problems. 7k per ounce would probably do it. Some think this is far fetched but it has been done before. http://www.the-privateer.com/1933-gold-confiscation.html. After the gold was confiscated it was revalued higher. The US is not completely out of bullets. They still have gold revaluation.
They want gold to go up. Just not too quickly.
I'd go with Casey here.
Confiscation and revaluation. Overnight. BAM!
Can't happen until the cheap gloabl assets have been fully plundered. Squeeze a few more bonus rounds out the dying system.
In the long run, maybe. For the Fed's balance sheet gold to match the current monetary base, gold will have to be about $10K an ounce.
In any case, until they have political clearance for LSAP, financial repression (of EUR, gold, whatever) is required to keep Treasurys valued and thereby interest rates low. This is not a secret and is in fact well documented, see e.g. Reinhart. Conveniently, Europe is destabilizing to meet their needs. The manipulation (recently documented here from Wikileaks and Goldman Sachs sources) serves the double purpose of keeping physical gold cheap so that the banks can buy it cheaply.
Show me the gold!!!!!!! Last Fort Knox audit in 1953. Show me the real money!!!!!!!
There's no gold left at Ft. Knox until they prove otherwise. Which they won't.
This is, or will be, the ultimate reality. The USA is planning for several alternatives, but this seems to be the likeliest. A win-win with the USA is the best possible outcome. You can be a patriot and have your gold.
G/f phoned in a weird story late last night from the Midtown bar she works at.
Dude walks in with tales of endless lucre from the shipping business. This in itself is weird, since most of the clientele are either hedge fund managers (bad tippers) or lawyers (good tippers). Says he's got a "client" trying to sell 2 tons of gold, is having hard time finding buyer. He tells her a ton is worth about $60MM, which sounds about right based on spot.
I told her I thought he was completely full of shit and was just trying to get down her pants.
She said yeah, he did ask me out, but I told him, "And you think tipping me $10 on a $70 tab is gonna make me all hot in the pants?"
Sounds like another "Nigerian" gold scam. Nothing new here.
That was me. My pick up line is "Wanna come back to my place, see my gold and get your brains screwed out?". It always works. No, they don't get to see the gold.
Hello,
Do margin hikes count for both the long as the short positions?
Thanks in advance.
Perhaps they should extend Trichet's mandate for price stability to cover gold as well. Given that he stated yesterday how successful he's been with the current mandate he seems to be looking for a new challenge.
Anyone want to explain what those numbers mean/represent?
Denninger is a narcissistic douchebag blowhard who can't stand anything related to gold or apple for that matter. Hey Mr. sour grapes, this last argument about consistency of ideals-using 100% cash for gold trading....ever heard of FOREX? do the many traders who trade CURRENCY on a daily basis not use leverage? uh...its called speculation. leverage allows one to control more than they otherwise would with available cash.
dumbest argument yet.
Denninger a narcissist?
Again, this is the kind of defamatory horseshit which stops this genius of a man (an original founder of the Tea Party, no less) from contributing more to ZH.
An example of Denninger's complete lack of narcissism might be that many of His readers beg Him to run for election. He has stated that He only needs to be installed as Emperor for a couple of hours and He will solve ALL the problems that America faces (also the problems of the world, although the simplest solution to these may be to just nuke the rest of the world).
And yet, He shyly announces that He is UNELECTABLE.
Denninger is a genius, who I turn to for His advice on everything from nuclear power (he sure nailed the Fukushima situation), precious metals (gee, have you seen Silver struggle the last few weeks?), and public schools, which He rightly believes should be abolished.
And yet, He sends His own daughter to a public school which is similar to a Concentration Camp, in order to do His bit to stress the system and bring it down i.e. out of the goodness of His heart. And not because He lost His ass shorting Gold from 800, and is now broke and has to trawl eBay for fourth-hand exercise equipment like some kind of Groupon whore.
Herr Forumfuhrer Douchinger is a laughingstock with NO credibility whatsoever when it comes to gold, monetary history or monetary theory in general. Oh, but didn't you know that houses and stocks are money, too? That's straight from the ponzi-loving horse's mouth.
He could buy you a thousand times over, and yet he selflessly sends his daughter to a public school while simultaneously campaigning for their abolition.
What are YOU doing to save America, Akak?
Lemme guess, you just sit on your sofa and watch Dodgeball and "Dancing with Simon Cowell".
That's how democracy dies - TO THUNDEROUS APPLAUSE!!!!
I cannot save that which is already dead and rotting, nor do I intend to try.
Defamatory? What site do you think we're on? The Denninger echo chamber? We say what we want without fear around here.
And this slavish praise for KD makes me think you are some kind of masochist/stockholm syndrome follower.
In finances it is best to remain cool and dispassionate - your weird relationship with KD makes me think you are either Denninger itself here to F with us, or you are his stalker/hopeful boyfriend.
Palladium once traded at 150% margin
Please, plEASE, PLEASE take make it 100%, I need another good buying opportunity.
If they make it hundred per cent margin then the shorts will all have to deliver for the longs will insist having paid in full.
100% margin really? Gold will tank back to $500 without margin. I highly doubt any of the readers here will have the ability to go old turkey. Gold wil act like molasses.
Can someone explain what a margon hike on gold means? In an extremely simple way (think a 7 year old asking you to explain). I know, I know: "What the f*ck is this guy doing here not even knowing what a margin hike is?!?!?" But still, I would appreciate it a lot.
My simple understanding is... the big players do not have the capital to play at the level they would like to. What they do is "leverage" themselves by borrowing money from (insert organization of choice here) to purchase more of the future. For example, at 10% margin, you would have to put up $10 for every $100 they loan you to buy the gold future with. Say they raise the margin by 10% to 20%...The person with %10 of their own cash in already would have to put another $10 in to meet margin requirements.
This has the effect of taking down gold prices because when your talking millions of dollars, most do not have the cash on hand to meet the margin hike. They are forced to sell portions of the future they own to raise the cash and preserve a smaller position.
Hope this helped.
ALL of my "contracts" have been 100% trash, uh, I mean cash, from day one. May they rot in hell.
Gold is still headed a lot higher. It's only a matter of time.
http://www.marketoverflow.com/market-forecast/gold---medium-long-term-forecast
I wonder if the Chairsatan starts his meetings with:
Bernank: Hello everyone, please repeat after me: Gold is not money, Gold is not money (he lifts his hands up and asks the fellow goons to repeat), Gold is not money, Gold is not money........
This goes on for about 5 minutes in a satanic ritual sort of way followed by the Bernank saying: Ok, see you guys next month, meeting adjourned.....
It's humorous to note that the more zerohedge Time on Site stats drop the more bullshit gold monkey pumping stories Tyler Hedgehog prints.
http://www.alexa.com/siteinfo/zerohedge.com
Gold is heading back below $1000/oz soon....where it belongs.
Hedge Fund heros will bank profits and gold monkeys will get crushed but it's not a steep fall from the basement.
C'mon Tyler Hedgehog, get back to posting some real financial news for a change! Enough of the gold monkey pumping! How about some stories about the ridiculously overvalued 10 year treasury bond? Isn't there some good juice there to share?
theotheri
????????????
Gold is heading back below $1000/oz soon....where it belongs.
Why not say, $350.00??
Where/how do you get your numbers?.
Is it because our fiscal house is 100% solvent, and in order?.
Or, there are no other Western world issues, or ME?.
Explain, I am not following your pricing number.
Easy. M3 has peaked or leveled off while gold has gone through the roof courtesy of the gold monkey speculators. Here's a really simple chart:
http://mises.org/Community/forums/t/25570.aspx
Gold is the ultimate bubble and will crash hard in the near future, back down to its economic value.
Yeah, and you Nadlerites have been monotonously saying the exact same thing for ten years now --- even as the dollar has lost 30-40% of its value during the same period, and threatens to lose most of its remaining value in the fiat monetary implosion to come. You are either an ignorant fool, a liar or an idiot --- go run and hoard your precious fiat currency and paper assets, so we have yet another brainwashed clown to laugh at when your "assets" evaporate before your eyes, and you wail the cry of the damned.
Denninger is to gold what Edelson is to silver
Denninger is to gold as FOX is to news.
Denninger is to gold as the TSA is to privacy.
Denninger is to gold as Greece is to fiscal prudence.
Denninger is to gold as Keynesianism is to sanity.
Bump it to 100% please do. All the remaining weak hands will bow out and there will be more phyz for me at a better price.
Marcus,
Who know's about Knox, West point is a depository also, we KNOW they have some.
It is sposed to be in four locations, the NY Fed,Knox, West Point, and one more that escapes me at present.
Well, we know that back when Joe Dimaggio was still playing baseball that Ft Knox had gold. But today?
Assume they don't until they prove they do.