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CME Hikes Gold Margins By 22% And Gold Drops by....0.4%, Resumes Climb
Just after hitting a new all time high of above $1815 in spot gold, the CME immediately sent out a notice to members advising that gold margins for Tier 1 members were increasing by 22% for both initial and maintenance positions, from $4,500 to $5,500. Unfortunately for the CME, this predetermined move was telegraphed to the market weeks ago, and with rumor 57 out of 22 finally turning out correct, this latest move only managed to push gold down modestly, and at last check was once again trading above $1,800. Just like all central bank interventions, which now have a half life between 1 hour and 4 days max, so this latest exchange attempt to subdue prices will fail spectacularly. Naturally, just like in the case of silver, this will merely embolden the CME to proceed with hike after hike, which in turn will kill speculative elements while merely reinforcing the strong hands. End result: in one month gold will be above $2,000 with almost 100% certainty.
In addition, the CME also hiked CHF futures by 443%, Yen futures by 25%, Ruble futures by 36%, as well as TEN, UBE and I3. The only margins that were cut were those of Uranium which dropped from 1320/1200 to 990/900 for initial/maintenance.
CME notice goes out at 6:31 pm, and gold promptly resumes upward climb:
And CME notice:
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You have to. I'm afraid that's part of the code for ad hoc, comment section, straw polls such as these. Please refer to Chapter 17, Section 43, Paragraph 65b of the internet rule book.
And I quote:
$2150.01
Damn! I just Price-Is-Righted you!!!
I think you mean $2149.99
I'll bite. $1725 +/- $50. I think it's getting a bit ahead of itself. Eyeballing 4 month move in 50 dma 1425 to 1575 (apr to today) adding to 50dma, I call $1725. And for all you dumbfucks about to junk away, go watch an Illuminati/Alien encounter video over at youtube. Gold has moved very tightly along the 50 for quite some time.
there isn't a junk button anymore, dump truck.
use a ten year chart, gold has that exponential look of late.
http://www.kitco.com/charts/popup/au3650nyb.html
I am all in of late!
INCREASE THE MARGIN BITCZESSSSS...
MORE INCREASED MARGINS = POSSIBLE LOWER PRICES = MORE SHINY METAL IN MY POCKET
Exactly and that's my point, Make it Cash only for all trading ETF's and you going to be even with those
paper trolls.. You pay cash, let them pay cash only as well..! I know it's impossible, cause those clowns probably leveraged like 1 Real oz to : 200-500 paper oz
gimme my gold f'kers!
gold is very much bid. somthing is really odd about Asia's open, bad vibes, place has bad vibes.
Though we all remember the 5 consecutive silver margin hikes in May, don't forget about the first silver margin hike last November. Silver corrected from $29 to $25 in five days but, as you know, it went on to double from there over the next six months.
Wow. You mean people adapt when you pull the same bullshit over and over?
Who knew?
Gold Dec $2400
noted!
Heh. It won't hold 2000 this month.
Phase 3 of gold bull market bitchez!!!!
The ramp in gold over the past three days was the banks letting their shorts get covered, like they did with silver in April. Then as now upward revisions were published, sucking in retail. Now comes the margin hikes, in which the bankers are now well prepared.
When JP Morgan raised guidance I covered.
Don't forget to leave your comments for Blythe in this very difficult time for her:
http://blythemasters.blogspot.com/
If anyone has any more facebook pages, personal emails, phone numbers for any of our favorite criminal banksters - I'd hope they share with the rest of the class.
You just know these elites love hearing from their adoring fans.
Or honeypotting the slow.
Unfortunately all those helpful comments on Blythes blog have been scrubbed. So in the interests of honesty and enlightenment any contributors need to go back and repost. ;-)
check out au ag overlay chart if ya want...price patterns look similar but out of phase (like sin/cos)...but what do i know
That's true, caerus- but gold has much stronger hands involved. I don't know that margin hikes are going to do a whole lot.
agreed...i just thought it was an interesting relationship...it seems they trade in and out of phase, for the time being at least...there was divergence from feb to may as ag took off...then the ag collapse that brought them to a relative parity...now it seems to me as though the divergence is once again upon us...only this time it's au's turn...we will see
On the central bank front...probably fairly strong hands. However, there are a lot of hedge funds that are currently facing redemptions again. A guy like John Paulson cannot afford to watch his gold position go negative after the debacle in the rest of his portfolio.
The gold market is small, and big sellers will have a considerable impact. At this point, a 5-10% correction would be quite natural....healthy even.
And as always...I am talking about the paper gold trade. Hat tip to you physical guys.
right...i agree completely...pump au to satisfy redemptions this week as equities continue to sell off...maybe
Let's get at least four more in the next few trading days and see how it goes.
Are you saying that's is a real value right now? Basically you can buy Nice Mercedes 500+ for like 50 oz of Gold?
Gimme a break this is unsustainable. Gold trading like a pink sheet penny stock and it will catch cold for like 200+ $$$ and back to reality in anytime from now on
I have it too, but those who are buying here? They are
kamikazes..
I think it might hit even 2k in short order actually, but
Drop going to be huge as well, mean while let's sit and watch.. I saw this before, when Silver reach $50/oz
not too long ago.. Buy, buy, buy :)))
Uhhh, that's what I said.
But what you don't realize (clearly) is that silver spiked straight up to $50 on a short squeeze. We don't have the information that that is happening now, but it seems likely (at least as one factor). They will put in a bunch more margin hikes to stop the advance and (they hope) drop the price back like they did for silver. We'll see what happens.
Any reprieve won't last long in this environment. Too much chaos for a safe haven like gold to get smashed.
Have your Mercedes 500. It's something from a dying era. The future is gold, and tractors :-)
Seems to me that it is time to put on an oil/gold gap compression trade.
For those of you that were not on silver when the margin hikes came, it will matter.
Up yours again, CME. Hahahahaha.
Let's get physical, physical...
Deliver that physical, physical...
More and more physical, physical...
##### KABOOM #####
Greeting ZHer's
I would encourage to watch this video? Why? Your being set up for more Government fleecing.
The Stock Market Crash of 2008
My recommendation is to pull your wealth out of the market and divest into safety. You cannot compete against HFT. Your dear leader is not working for you, in fact this manchild is working for the Central Banking System. Obama needs you to open your wallet to spend money on things we cannot afford. Just like children, tandems are thrown and the market is targeted to create a new taxpayer spending thrift plan to support an economy who has been crippled by jobs out sourced.
The more fear they instilled is supposed to create future tax structure by keeping the illusion going on.
For the record, don't buy into the new vision, resort to sound established principles. Just my two bits of info, take it or leave it.
You're new here, aren't you?
Nope atomizer is a really old poster. He's been around forever and he's right.
2 weeks ago I get this dream that I'm in a sims like environment and there's this huge flood or tsunami coming in. And everyone is running to this high ground. Then a couple days later same shit. Followed 2 days later by a complaint about my sunglasses. Which is a complaint about me polarizing the dreams that were simply meant to be bullshit scare tactics. Because I was about as emotionally entangled in those bullshit dreams as a piece of glass is entangled in a beach made up of bullcrap pellets for sand.
It's fuck with your head time. And if they want to play frosty the snow man then I'm jack's complete lack of emotional involvement in these fucktards little fucktard games.
Get angry and rip the nob off. Because reasonability and responsibility died. Things are going to get mean and ugly. Weather records are going to get broken. Stock markets are going to get broken. But mostly people are going to get broken.
<pats Atomizer on the head>
Atomizer,
Anyone here IN the market, is a fool......................I do not think there are many of the regs here in that category.
Should have been out months ago.
We're going to a min of 7900.....................
Then we get another QE(likely by another name).
they are whining pussies
WHINING!
duh...lol
days like these, I am thankful for mathcore metal.
Botch really is a legendary act. R.I.P.
you talking metal, it was Slayer whilst trading in 2005/2006.
Now I am kicking with Havoc (thrash metal) +coffee +...whatever else.
Slayer is the shiitte!
My first Ozzfest when I was 6 (Went with my parents), lol
negative waves man. negative waves. anywho here's my theme for...what's tommorrow? Thursday? That's it? Thursday?
http://www.youtube.com/watch?v=q1ZV4Mx7tw8&feature=player_detailpage
http://www.youtube.com/watch?v=IuezNswtRfo&feature=related
raining blood bitchez
hellz yeah, it is deff raining blood down on wallstreet...
thankfully those of us that deversified into real money (Gold & Silver) thanks to the advice of Tyler Durden, Marc Faber, Jim Rogers, Ron Paul and others, we care not about Wallstreets funny games. They will crash and burn themselves as they have always done since the inception of Wallstreet and mega banks.
idolatry. http://www.youtube.com/watch?v=b56vwZ_oclw&feature=player_detailpage
you ever watch the 'Deadwood' series? That shit is the mad note.
Try some Electric Wizard. Doom metal is just so... right these days.
mmmm...mathcore...
Didnt botch become Minus the Bear? Someone told me that. Another awesome ban in a completley different way.
And ditto on slayer. Ive seen them twice!
that's not very lady-like.
Just out of the mouth of the idiot British blond on CNBC, "If we can get some good news out of Europe, we can break gold."
Good luck with that . . .
Golds gonna kick their ass after lighting their hair on fire waiting for good news out of the EU.
"evil speculators"
They have this the wrong way round. After a steep decline, brought about by naked shorting, then hike margins.
I suppose the bad guys think there are weak hands in the gold futures market that are going to get flushed out during a coming correction.
Just axed Algore what gold should be at, he said bullsh*t!
$2500 and $75 by new year.
So people buy physical, sending the price higher, because it drains liquidity from the gold market. On a lighter note, today a friend of mine said gold was over valued. I laughed and pressed him on his theory, and when he could not meet any standard for his opinion he finally said, "I guess I am just jealous I don't own any."
Now lower margin requirements once again in USTreasuries. Drive the turd herd into failing paper; USDinker dollars as the lemmings they are. THhhhhhennnnnnnn........? Once positioned. CHECKMATE. OMGoonzie Cash is trash and all the debt attached to it. All risk dumped on the sheeple as planned. rat bastards mission accomplished. Saw it right off years ago. Screw wall street thugs and the corrupt goonerment who loves money; power more then serving we the people in representitive government. I'm my own self suffiecient central bank. Let the theiving liars step across the threshold of my home unwarrented, to confiscate my assets outside the corrupt financial sytem. I'll be waitng. I'll take out as many goons with a jaw bone of an ass and then I'll bring out the good terminating tools and pile'em up like cord wood. Thx for the spec ops training 71-74 you blood sucking vampire squids .
You forgot uranium. I hear the ticker symbol USN (US Navy) is a big user. I'm going long right at the open. THERE ALWAYS A BULL MARKET SOMEWHERE!
Your friend will be buying somewhere around 10000+
Take it for what this really means. They have offically lost control. It about to go to that level of pain that most of us expect. Time to dust off the Silver, Seeds, Guns, Booze, and Mountain House Freezed Dried.
Why do you guys say things like this? You know what happens to parabolic moves...
Fucking sell your gold holdings now the damn ship is sinking! Just leave the core alone, never touch the core.
JimBob,@21:07
this move is FAR from PARABOLIC yet..........................hell, we haven't even hit the inflation adjusted high.
Where else you gonna put your frn's?.What IS SOLD, will be snatched up so fast your head will spin, we have not even come into the season yet.
Think Globally for a change................
Why is it a/ok, when it was getting nailed for $30.00/$50.00 down days, that was no big deal, now it has a few same UP days, and you would think your just going to get screwed.
I trust Sinclair on this, he has nailed this bitch, all the wy back in 2002.
It's going down, exactly like he put in writing.
It's a long way to the top...
http://www.youtube.com/watch?v=H1iR2Wi3u5o
Yep.
already sold my paper au...short now...hurts but i like it...will use profits to buy more phys...unless im wrong, in which case i will buy goldschlager...
Wonder what gold looked like during this time:
http://en.wikipedia.org/wiki/File:German_Hyperinflation.jpg
When should people have gotten out?
Gold does seem ahead of itself and I'm not buying but what would really shake these guys up is another 25% and then some backfilling.
on wires: trader rumors on Japan banks no londger dealing in forwards and swaps with French banks. Tight.
Emergency Emergency
www.youtube.com/watch?v=VCT43aawYOU
But...but...but, they said,"you can't eat gold!"
Making it a cash market wouldn't keep it from being a futures market used for hedging. The farmer gets the full price for his crop anyway when he sells it forward it's the speculator that doesn't pay for it because he uses margin. What shouldn't be allowed is for anyone to sell that which they do not have or have not planted.
As to farmers selling forward their crops, its a risky business that they would do better to be out of.
The market just does'nt take gold seriously, its FEAR or some other shit. When I opened my first securities account wi th Bache he told me 2-5% miners or gold, we are going to get back to that advice, maybe I am just dreaming
And yet silver remains capped under $40.
Feel free to express your feelings to Blythe at her personal blog
Or on her personal Facebook page. (Facebook comments are removed within minutes and expect to be permanently banned from Blythe's facebook page like we were!) ;)
-Doc
so, you alternate this crap w/ the link to your website? all day, every day?
you are a troll!!! get lost!
Time to short gold.
Probably, but I'd put some oil long against it.
Finally popped my Gold cherry today, then Lord bless me, the price kept rising.
How quaint. Silver never did that for me.
Keep playing your Paper Ponzi games, amigos. Drive it down to one thousand if you like.
Not one shit will be given here bitchez.
Well done.
I live in Southern Oregon near Jacksonville. It was founded and populated when in the 1850's a couple guys headed to the gold fields with a train of pack mules loaded with mining gear the miners would pay dear for, and they stopped in the middle of nowhere for the night, one pulled up a clump of grass for a mule and the roots were shimmering with gold.
At 250 to several hundred an ounce it was more profitable to dumpster dive than to look for gold, but at 1,800 we have a different kettle of fish.
There is a lot of gold left in Northern California and up the west coast. Just last year a guy in Nevada County was having his land graded to build a house and they hit a seven pound nugget where his driveway will be, six inches to the left and it would probably have sat there till the end of time, he sold it in March for $400,000. Had he waited till today he might have got closer to a million. It is the largest surviving nugget to come out of California.
Time for a new gold rush kiddies, but beware, the BLM and BIA and Forest Service, and about 12 other government agencies at all levels have banned gold panning years ago except in a few very VERY small areas. In this region it consists of about 80 feet of the Rogue river, panning only, no dredges or sluice boxes. Out of 94,000 square miles of Oregon panning is allowed in 0.00000000000001 of that area.
While you are out there though, there are opals and other gems to be found. Finally a hobby that turns camping into fun and profit. All I ask is that I find enough dust to pay for the beer and sunscreen. Any more than that gets donated to ZH so they can afford a spell check for us. You are welcome.
funny you mention that...there was a gold-rush that started exactly where i live and extended all the way up to georgia and north carolina. when the fantastic stories of gold in CA came round in 49, the entire matrix of camps picked up and headed west...depleting the entire area of mining experience. anyway, it was one of those things that was sort of under the surface for a while, and i've heard a few people say something or other about it lately. so i went online and ordered maps from the university geological surveys and the assay records from the mining years; the figures were quite amazing. maybe when the weather cools i'll try to pick up where they left off and spend some quality time with the boys...even the five year old can shovel dirt -- it's their chosen career at that age. actually, i've already ordered supplies. I don't expect to find mass, just build good memories -- one of those stories they'll someday share with a therapist.
and the cat's in the cradle,
janus
Yeah but can you pack heat when you are out there?
Too many dangerous dope farmers with AKs. I hate dope smokers! F them!
what?!? it's like an america i've never known...where can you not carry a gun? round here dope growers know better; they're the ones on the bad end of the guns -- but janus gives em a pass and applauds their industry.
sounds like you have a community issue, friend. get on it or shut up.
Hi all,
Been reading ZH for a few months. First time poster.
First of all, thanks to Tyler(s) for all their work. I have learned more here in a few months than years of reading elsewhere. And thanks to all the posters (special thanks to whoever mentioned FAZ a few months ago on some thread...I owe you a case of champagne, or an AGE).
Real question here: I have much of my money in physical gold and silver, as well as food, seeds, a home with land, etc., but I also have some money in PHYS, Sprott's gold fund. I have considered selling it all, waiting for a dip (if there is ever another one), and buying more physical coin. I would love to hear people's opinion on this ETN. If we get a real financial collapse/reset, which I suspect we will, will this be sellable for dollars or a new currency? Will the gold actually be redeemable? I live very near the bank at which it is, supposedly, redeemable.
Thanks in advance for any thoughts. And, seriously, thanks to all the posters on these threads. I spent years reading every mainstream news outlet, and working at some of them, always knowing that lies were being spread, but not knowing what was really going on in our financial system. The information and opinions here have been smarter, and more accurate, than anything I've ever seen. I know that many of you know this already. Just wanted to say that all your work is beginning to convert new folks. Slowly but surely.
americans do not know what to say when these questions come up. who can say? no one has ever seen this before? it is unchartered territory for any american...........
....but repeated over and over in the history books...
yup.... the wife was starting to get freaked out on Monday until i told her how many "panics" the nation's been through in the past
Yeah but most countries were not dumb enough to elect an islamo mole. - who's bosses wanted their Mohammed to destroy the country.
deleted
Like the other poster said. No one knows for sure. The educated guess is that there will be a new reserve currency and it will be backed by gold. Whether that is the US dollar or some other vehicle like the SDR remains to be seen. The in your face truth is that the currency in your hand will be devalued so pick your safe haven. There is nothing safer than physical gold/silver. Everyones situation is different. Some people are debt free. Others have mortgages etc. Some have tons of cash others dont. I suggest keeping your core savings in physical then play around the sides with your fiat. You seem to have all the necessities covered.
Thanks TJ. Yeah, seems like we are in uncharted territory, and my first bet is to have a year of food and other resources handy. The FAZ and other such trades is just gambling money, the profits from which go to more dry goods, more coins, etc. If played right, these ridiculous ETFs rise faster than food or gold and can be used to buy more food and gold. However, PHYS so far looks good to me as a way to keep money elsewhere, as well. I love to hear the dissenting opinions on ZH, and have often been convinced by them. Seriously, went from non trader idiot to trader (slightly less) idiot in a few months, with 25% gain on capital in 10 weeks (feel sorry for the poster yesterday who scared out of shorts and blamed this site). Of course, gotta be careful using levereged ETFs as gambling money to buy real assets, but, hey, it's fun...as long as bases are covered.
Thanks again for replies. And please, all involved in this site, keep it up. When we actually hit reset, we will still need voices of sanity in what is sure to be a strange time.
The federal goons can make gold "not officially redeemable", but they can't make people not accept gold... and you can bet your butt people will happily accept gold in the middle of hyperinflation or any kind of financial or system meltdown. And you can always exchange gold for currencies or anything you want outside the USSA.
It is good to have all your physical under your direct control. That way NO government action can take it away, unless you are STUPID enough to hand it over like some kind of insane wimp! I mean, the main reason to hold physical gold in the first place is because you don't trust the government and the various predatory financial markets "officials". So NOBODY can stop you from totally screwing yourself over. No matter what ANYONE says in the media, you can be certain that at least 90% of the holders of physical gold this time around WILL NOT turn over their physical gold to any "government" or "officials" under any circumstances whatsoever.
PHYS is just about as perfect and reliable as you can get without holding the physical yourself. Arguably it is safer than allocated gold held by other institutions, because you can be certain that every conventional organization will do whatever the government tells them to do, regardless of whether the government has lawful authority to demand it or not. PHYS is about as good a bet as you can find without holding your own gold, but I suspect that a total meltdown and confiscation will force Sprott to surrender his horde too. The government in Canada will bow and lick the boots of uncle scam in a nano-second, for they are predators and co-conspirators.
Do not worry about redeeming gold. You WILL be able to spend it. Surely you're not insane enough to want to trade your gold for fiat, fake, fraud, fiction, fantasy, hyperinflating toilet paper, are you? You want stuff... and you will always be able to exchange your gold for stuff.
Disclaimer: I've had 98% ~ 100% of my savings in physical gold and silver for years, so I practice what I preach and am confident in what I'm saying.
Thanks. That's about what I was thinking. Best of the bets that aren't gold under my pillow, but not perfect.
Would only exchange physical for fiat if/ when I need cash for food or land.
Like the poster above said, you want stuff. Have a plan for what you will do with you gold and silver when the time is right. You will know what that time is because gold and silver will be worth a whole lot more vs other things, fiat money will more than likely be dead on a national level, and you will be extremely hesitant to spend your gold or silver.
Gold seems to be dusting off its old function as wealth preserver of choice in "interesting times"...the memory of this use hasn't gone away after thousands of years because the tricks of mammon haven't changed in that time....What's fiat's average? every 40 years?...
WRONG. Margin hikes liquidate open SHORT INTEREST who perpetually feed the squeeze. when there are no shorts in a few weeks, there's nowhere to go but down.
it will take a lot longer than a few weeks, to cover existing shorts, without causing a moonshot
Anyone else wondering how long gold will be priced higher than platinum?
What will ramp depends upon what the central bankers decide is the new standard. Inasmuch as they are stacking gold, and not platinum, which has industrial uses and can't be ramped high enough to bail out insolvent banks, we can pretty much go to bed at night comforted by the notion that we are not going on the platinum standard.
Buy gold and silver or be left behind when the new scam begins.
just by inference .. thinking CHF is the real canary in the coal mine ..... Eurolanderss in deep sweat .. and Germans maybe waking up that 'export' configuration (which favored their export sales mentality) of Euro for them previously may anchor them into oblivion ...hence the 1930s style beginning rush to CHF.
What is going on with CHF is nuts .. but I'm no forexer (but do alot of foreign biz) ... just an intermediate amateur ... but gold is getting USA media attention when I think the real hand grenade now is CHF
I.e., there is no steam pipe known or designed of this caliber to handle this amount of pressure coming in for such a small state/currency
the gold train left the station a long time ago. they are not going to stop the gold train. nor are they going to stop the silver bullet........
Screw you all - I bought gold @ $800, silver @ $11 and CHF @ $ 1.16
I'm signing off now & heading for the bathtub - enjoy your melt down - if gold gets in the $2100 range I'm selling my all PM's & buying more USA farm land.
BTW - many thanks TD, you helped a bunch in asset preservation.
You are the man, no doubt. But kindly explain to us why you would sell at $2100?
Is gold a bubble? Is the currency destruction and central bank purchases of tradition going to come to an end?
What logical rationale have you formed to cap this run? I'd really like to know.
Right click on the link. On the pop up contextual menu, choose "open in a new tab" or "open in a new window." Continue reading ZH while the link loads and check the link later at your leisure.
IMO - (not investment advice). When you invest in precious metals, you need to understand that there will ultimately be a "top" form at some point in time. You also need to acknowledge that PMs are an insurance policy against risk, which seems to be changing into impending calamity as of late.
So you need to formulate a hypothesis of what drives the PMs you are in and create a dashboard of indicators that you can watch which signals the macro trends that drives PM prices.
Here are some questions to consider:
Look to the major opinion leaders. For example, Jeff Gundlach was on Bloomberg talking about his strategy to deal with the market. He essentially said that his portfolio is constructed to ride out two - THATS TWO potential secnarios. One is deflation, the other inflation. THIS TELLS YOU THAT NO ONE KNOWS WHAT THE OUTCOME IS FOR THE FUTURE.
Then determine what your metrics are. Here are 5 that I watch (refer to this article on ZH: (http://www.zerohedge.com/article/20-warning-signs-global-doomsday):
You can also add the above to the EURO scenario.
So where does all this lead? IMO we are heading for sustsained currency debasement (due to ongoing QE and its surrogates). I dont' see anyway out of this quagmire and the dashboard is starting to flash red in the Eurozone (and some parts in the US), and we are looking at a currency that will eventually be turned upon, When this happens, it's going to be ugly, very ugly. PMs are likely to become an "objective" store of value that counterparties can transact and trade on. This is why I believe PMs are going much, much higher. My guess for Gold is at least $5,000/oz and Silver, possibly $400/oz. These are my "TOPS" that I'm working from. If these are breeched, I sell. You should also be ready to sit through some very intraday violent moves which will come once the US dollar is abandonded, or some black swan event occurs, which you simply can't factor in.
If the PMs don't hit these values and you've been in a while, you're likely to do well with an insurance policy that hedges for the future.
Cheers
You're deluded. Gold didn't do anything for about 15 years in the 70's when plenty of "safe havens" were needed. The top is in on gold. A lot of folks are gonna get creamed shortly.
Not sure how you fit 15 years into the "70's", but in any event, gold went from $35 in 1970 to $512 in December of 1979.
Your statment really couldn't be more incorrect.
Why would you make a statement like that?
The only thing that stopped gold in 1980 was Volcker increasing the fed funds rate to 20% and a host of CB price suppression schemes.
Do you think that "the Bernank" has that as an option right now/any time soon/ever?
Could the US cover it's debt with an interest rate of 20%?
You are not even grasping the most elementary elements of 1st year macroeconomics. The 70ies saw inflation, the depegging of gold by Nixon, no internet or interlinking technology, no trading robots. The term globalization didn't even exist then.
You're obvkously born in 1974, meaning you're a 30-something who's testosterone is running the wrong head. You're talking your book and hoping that gold goes down. It will... but not until we go through a crisis and reset. Good luck with purchasing those shorts.
Nothing more dangerous than leverage and confirmation bias put together. While incidentally most of you've been right so far, I don't think that anyone can answer some very basic questions like: how much is it gold worth or how do you value it? Would it be plausible for gold to rise mostly because of this particular reason? I mean what better way to suck everybody in than using something that is impossible to value, has no particular application hence demand is pretty much unquantifiable in terms of price equilibrium, but constantly being taught as the ultimate refuge of value. A few year down the road (after the bubble pops) I wouldn't be surprised to find out that "el cartel" was behind this like so many times before.
FTR, I'm of the opinion that stocks are for the most part, still hugely overvalued and just inches away from an epic implosion followed by a long journey to their fair value around 300 spx500 points, so no, I'm not taking the other side either.
Sounds like you're calling tops and bottoms...
If stocks fall that low what makes you think that they won't must continue to crash through That floor? Look at what the weightings are and ask yourself what these stocks are going to do for customers (especially as unemployment continutes to ratchet up, not to mention the continuing weight of debt [that just really ain't being shedded]).
Gold stands alone. It's all other stuff that jumps around! Again, what reasons would an unbacked IOU (fiat) have to gain in value (esp now that the cat is out of the bag)?
It's not gold vs stocks or paper, it's why gold? Why not something else? Something that has a way to value it based on more conventional metrics than the willingness of the next buyer to pay more.
I'm not putting a floor around 300, but hopefully by that time the wheat will be separated from the chaff and we can have something to invest in, not just participate in a pyramid scheme.
Sinclair said 1764 would be a war--we overshot that but haven't held that for long. He also has said for years: when it really gets going you'll see "volatilty to set your hair on fire" and $100/day swings. We could be there. Just remember: $100 down from here means NOTHING.
Silver? who knows when but the it has a date with supply and demand -- not long I think. I get the feeling the current stuffing of silver is in anticipation of an attack on gold after the overshoot.
All this assumes we haven't left the old paradigm.
http://presscore.ca/2011/?p=3598
Gold, you magnificent bastard!
Peak banks, bitchez.
The Discount I was looking for finally happened peace paper Im switching to all GOLD ;)
Helicopter Ben....do you condsider raising margin requirements tradition? Why would you get involved if this was not considered real money? FYI...Gold is REAL MONEY...now go fys.
CME hikes will give the sheeple reason to believe that anything but complete manipulation of the gold/silver market will be the reason for a future smack down of gold (perhaps monday). Silver is being manipulated low so a smackdown of gold will take silver into the 20/s. Have plenty of cash on hand as this could be the last ever discount of gold/silver
So this is what it was like to live in Zimbabwe in the early to mid 90s...
in other news...GOAL!!!!
If all they can manage tonight is a little stop-running dip, it's Donkey Kong time.
1/1/2012 - gold 4325 silver 146.80
Why not? Let's check dick lengths right after New Years.
.
Check this out; gold might have entered a new range.
http://content.screencast.com/users/a99er/folders/Test/media/4482e0ee-99...
Yep and tonight's little raid ran into intense buying. 40K contracts and gold coming back strong. Can't imagine Blythe and her monkeys can hold silver through another strong gold day.
Those saying the move in gold has not been parabolic are both correct and incorrect - depending on the time scale. Anyone who would claim in the long-term, since inception of the move from about $265 or so, that the gold move has been parabolic should re-school themselves regarding technical analysis. However zooming in on the short-term, on July 1st of this year, gold was $1,480 and today it has posted $1,800 (in just 6 weeks that's a $320 move and that is parabolic).
Silver is down because margins were raised 5 times in May and THEY REMAIN HIGH therefore the little guy, as well as small and mid-sized companies had sold out and remain out. This is not the case with gold. As Tyler mentioned, don't think this hike will be the only one and certainly the price may spring back after raises have been implemented but certainly gold is in deeply overbought territory and is due for a correction at some point. Some here have mentioned Jim Sinclair (who was right long before the current johnny come latelies). Mr. Sinclair has never said that gold would be off to the races and never pull-back...
I find it hard to believe that practically no-one here at ZH is the least bit concerned about this hike. Maybe this is just a harbinger of things to come in the next couple of weeks (as the whistleblower Andrew Maguire mentioned regarding silver that they do not send out memos when a price smash is about to occur but rather signals in the marketplace). Be leery of the powers that be continuing to raise margins sequentially and they may even dump gold from GLD. I have no doubt they will do what they can to protect themselves as holders of options that have been written.
Also, remember that Sinclair believes and quotes Martin Armstrong very frequently. Armstrong recently said that gold will most likely hit its peak by the end of August.
Armstrong said gold would hit its peak by the end of August??????? I believe Armstrongs "peak" number for gold is five figures.
Regarding silver, margin and other paper-related events will become irrelevant in the coming months as silver enters price discovery determined by physical supply and demand.
You need to read Armstrong's article entitled "Gold - The Final Frontier?" In this article he says "Timing wise, a high [in gold] is ideally due in August with a shift in trend thereafter taking place in September." Notice this does not say THE high, but a high. Of course Armstrong believes in five-figure gold but that is long-term and not now.
It is finally sinking into Americans thick TV controlled skulls that Obama is Mugabe. Ditto for the rest of the world. He is a flash mob looting and robbing Amerika with The Ben Bernank and The Goldman Sack.
I find it hard to believe that practically no-one here at ZH is the least bit concerned about this hike.
I think most people expect that they will try every trick in the book to save fiat currrencies. This is just one ave of attack for them. The last one will be confication like FDR.
I don't quite see your logic.
If a stock had gone from $14.80 to $18.00 in six weeks nobody would think twice about it.
Why is it "parabolic" for gold?
How and why do you hike margins on a long-term tradition? I don't get it.
monetary revolution is here!!! follow it at www.silverrevolucion.com
Just buy the gold dip - bitchez!
Why does Tyler keep looging me out? I am tired of remembering my password Tyler. At least he laid off the integers and division questions. Tyler gets to count his gold bars all day and b**g Blythe at night.
Get Firefox.
Isnt this the same group of scumbags that lowered the margin requirements on the S&P just before it collapsed. You know the S&P that was 40% overvalued??
TYler,
Gold going to crash here like silver...
money will flow to SPY..
Anyone care to comment on the possibility of a large central bank selling a lot of gold to prevent their currency from collapsing? Or put another way, what might cause a big boy to sell a lot of gold in a hurry? This is the risk I worry about because I do not understand it. Perhaps the big boys will want to keep all their gold even if they are collapsing because they'll need it on the other side? I don't know. Anyone?
Didn't they buy the gold to PREVENT their currency from collapsing?
So, the fagsters up'ed the margin requirements on gold and the Swiss Franc. Which will make no fucking difference in the long run. Physical Gold is being acquired as wealth insurance and is NOT their bitch like Silver. I personally would stay far away from unallocated gold ETFs like GLD. IF you must have an ETF in your IRA (for example) stick with Sprott, or Zürich Kantonalbank or CEF. For the fagsters, feel free to suck my %&$
Paper v Physical: *
Lets say I wanted to start a company whose only asset was physical gold -bullion grade.
Me and my pals buy a tonne of gold (35,840oz) at -lets say $1,000/oz sometime in our more calmer past. So my company is basically worth £35,840,000 on that hour, of that day.
To keep it simple, I issue 35,840 shares to my funding partners; so the share price is now locked to the spot value of gold. I don't ever need to buy more gold (cos if I do, I have to issue the equivalent in new shares to support this injection of capital). Now I sit back and watch my shares fluctuate in value on a daily basis, and trade shares in and out when it suits me. Now we are at $1,800/oz, my shareholding should match that value without question, and be totally secure.
So is someone telling me GLD does not operate on that basis? Is it phantom gold, or are they creating phoney shares? Has it been hijacked?
* I am a believer in praise-the-lord physical, and wouldn't trust the contemporary markets in stocks and shares at all, I'm just asking a dumb question in the assumption that there is some regulation and honesty on the NYSE or wherever to protect naive fools such as I.
Ever since the creation of the Federal Reserve system in 1913, EVERY SINGLE CHAIRMAN of the Fed, without exception, has been Jewish.
Keep that in mind. Is it anti-Semitic to own physical gold and silver?
?
"EVERY SINGLE CHAIRMAN of the Fed, without exception, has been Jewish." - Moe Howard
I am no fan of apartheid Israel or Zionism, but the above quote is simply NOT TRUE.
Volcker and Eccles are at least two of the non-Jews out of 14 chairmen.
http://en.wikipedia.org/wiki/List_of_Chairmen_of_the_Federal_Reserve
You have to be careful, you can really confuse some of the people here with facts that are orthogonal to their world view....
Same old technique that exchange use to suppressing the price of PM, one day this will not work, and.....you know what will happen......accumulate your physicals!!!
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