• Knave Dave
    05/23/2016 - 18:16
    This past Thursday marked the one-year anniversary of the US stock market’s death when stocks saw their last high. Market bulls have spent a year looking like the walking dead. They’ve...

Endspiel: Fidelity Says "It Is Clear Now That The Fed Cannot Bail Equity Markets Out Any More"

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Fri, 09/23/2011 - 08:43 | 1700547 OrdellRobbie
OrdellRobbie's picture

silver and gold down dramatically, paulson fund will be down big again this month

Fri, 09/23/2011 - 08:44 | 1700553 sunnydays
sunnydays's picture


Fri, 09/23/2011 - 09:04 | 1700615 ??
??'s picture

BlackRock ""fear will be giving over to greed before too long"


Terrence Keeley of BlackRock at the G20 on Bloomberg TV an hour ago  discusses how BlackRock is in the middle of every important conversation and how Lagarde will be brought to heel:

"fear will be giving over to greed before too long ... I had a meeting with a central bank governor yesterday who said (Lagarde) thought the Euro would not exist in one year, I promise you  by the end of this weekend she will not hold that position ...  Christine is new on the job obviously finding her way"


Fri, 09/23/2011 - 09:21 | 1700723 Zero Govt
Zero Govt's picture

that's the same Blackrock that likes China because its Totalitarian State control 'helps' smooth the path for capitalism (at least Blackrocks shoddy authoritrian non-free market version of capitalism - fascism anyone?)

meanwhile yesterday 1,000's of the Chinese public attacked Govt buildings (great target selection by the public... for once!). The local and State Govts (public emplyees) in cahoots with Blackrock-stylee private companies are trying to steal peoples private land for their own purposes (charming!)

The Shanwei government accused villagers of having “ulterior motives” and of “inciting” villagers to attack the Communist (fascist? ..they're all the same parasites whatever label used) Party HQ and police station by 'spreading rumours about police officers beating a child to death'.

It's not like Govt ever spreads rumours (WMD, 9/11 terrorism caused by Saudis used to invade iraq etc) to incite violence is it?

Maybe Blackrock have lost the fascists plot on the Euro ..and China

Fri, 09/23/2011 - 08:52 | 1700590 kalasend
kalasend's picture

Same goes for a lot of ZHer.

I just don't think everybody is as much on physical as their comments make it look like

Fri, 09/23/2011 - 08:58 | 1700620 Temporalist
Temporalist's picture

Why because gold is still up for the year and if anyone, ZHer or not, bought physical gold in the last 52 weeks or more they have gained value?

Why do you visit ZH and learn nothing?

Fri, 09/23/2011 - 09:06 | 1700651 spiral_eyes
spiral_eyes's picture


I'm 95% physical, 5% mining stocks. The key is to buy regularly, buy the dips, and to have been in the game since at least 2006.

virtually everything in my portfolio still has a lot of squeeze room before i'm in the red on ANY trade. gold could drop to $700/oz and I'd still be in the black, because although I've been buying at $1200, and even some at $1700, the majority was accumulated much lower.

Fri, 09/23/2011 - 09:08 | 1700662 jekyll island
jekyll island's picture

OK, you're a genius.  Quit bragging.  Or at least give me your projection for Tower Hill Mining.  

Fri, 09/23/2011 - 09:25 | 1700740 spiral_eyes
spiral_eyes's picture

To be honest I'd say I was quite mediocre among ZH readers in both absolute P/L and % terms, but I don't know for sure. I mean everyone has outperformed John Paulson this year...

And Tower Hill... It's 6 times the price it was in Jan 09. Personally I would wait 'til the next QE spike and sell... that's what I'm doing with my gold mining stocks. When the big crash hits (possibly one more QE cycle away — although not necessarily) gold stocks are going into the ground short-to-medium term...

Fri, 09/23/2011 - 10:22 | 1701000 kalasend
kalasend's picture

Yeah right, swear the same allocation for other ZHer's. Who's talking about u?

Fri, 09/23/2011 - 09:00 | 1700626 reload
reload's picture

Fair enough, but if you held physical pm`s at a cost average 20% + below current market prices would you be rushing to sell? what would you do with the fiat you sold for? Most Pm holders are simply trying to avoid counterparty risk. I think most gold and silver bugs have been accumulating for a long time and their coat averages are still very comfortable.

Fri, 09/23/2011 - 09:51 | 1700866 johnQpublic
johnQpublic's picture


Fri, 09/23/2011 - 10:11 | 1700943 Esso
Esso's picture

Yep, bought gold between $740 & $904 and silver up to just under $18.

Not trying to buy my way through the crisis, but rather trying to transfer wealth through it. Won't be opening the vault until we're on the other side.

Fri, 09/23/2011 - 09:00 | 1700629 MonkeySmoke
MonkeySmoke's picture

GSR is currently 51:1 which means trade gold for silver and when the GSR reverts, and it will, swap silver for gold and stack the difference. Meantime--exchange fiat for silver at a much better exchange rate!! kalasend what do you know about how much physical anyone has? You know nothing.

Fri, 09/23/2011 - 09:18 | 1700709 Dingleberry
Dingleberry's picture

As for PMs, physical delivery has risks.  You have the risk of theft, costs of storage, etc.....and high taxes upon redemption.  Pms are insurance. Period. Even if they exploded, most folks get paid in dollars, have 401k that aren't even allowed to invest in gold, and on and on and on.  PM-ers are buying gold/silver only to keep a semblance of purchasing power.  As I heard a wise man once say, "you may get rich if gold goes to 5k, but you won't want to look out your front window".

Fri, 09/23/2011 - 08:54 | 1700604 101 years and c...
101 years and counting's picture

any ECB rate cuts will KILL the EUR and send equities into a massive freefall.

Fri, 09/23/2011 - 09:51 | 1700868 Quinvarius
Quinvarius's picture

Gold is going to benefit greatly from the secret loans the Fed is making right now.  Just like 2008, but this time they don't even need to ask permission.

Fri, 09/23/2011 - 12:54 | 1701896 covert
covert's picture

its about time! what took so long?



Fri, 09/23/2011 - 08:45 | 1700559 El Gordo
El Gordo's picture

Is anybody squealing yet?  They're pinching pretty hard.

Fri, 09/23/2011 - 08:46 | 1700564 Quadlet
Quadlet's picture

Think your money is safe in your bank?

Fri, 09/23/2011 - 08:53 | 1700598 Momauguin Joe
Momauguin Joe's picture

Safer in well secured stores of vodka, whiskey, toilet paper, trash bags, footwear, clothing, ammo, etc....

Fri, 09/23/2011 - 09:54 | 1700879 Esso
Esso's picture

Yes, and food.

A five gallon bucket holds ~35 pounds of rice or beans.

Fri, 09/23/2011 - 10:16 | 1700970 Momauguin Joe
Momauguin Joe's picture

True that. Many more things to stock up on that will retain their value. Just off the top of my head: Cartons of cigarettes (I've personally seen cigs selling NOW for $1 A PIECE at local inner city bodega's), hammers, nails, door hinges,  rainwater, non-hybrid garden seeds, canning jars, reading glasses, over the counter medicines, vitamins, portable solar panels....

Fri, 09/23/2011 - 11:12 | 1701264 Storch
Storch's picture

Propane, antibiotics, sewing needles, wool socks...

Fri, 09/23/2011 - 13:05 | 1701978 Saxxon
Saxxon's picture

Excellent thoughts but cigarettes quickly get stale - grow your own terbacky.

Fri, 09/23/2011 - 08:47 | 1700568 Stoploss
Stoploss's picture

Holy Fucking Shit...

Fri, 09/23/2011 - 08:48 | 1700571 the not so migh...
the not so mighty maximiza's picture

I hope Fideltiy will stop sending me emails to contrubute more to my 401k then.



Fri, 09/23/2011 - 08:48 | 1700575 Miss Expectations
Miss Expectations's picture

Years of casual contagion talk.  Shall we soon see how contagious panic is?

Fri, 09/23/2011 - 08:48 | 1700576 spiral_eyes
spiral_eyes's picture

LOL i disagree.

Benny will try IOER, try another huge tidal wave of QE, try Op Twist 2, and ultimately probably try printing money and directly monetising gov't debt (an idea so hyperinflationary even Krugman scorns it)

Will any of these save the global financial system?

Nope. It's dead in the water.

Will the endgame be fun to watch (and profitable if you're long gold)?

You betcha.


Fri, 09/23/2011 - 08:48 | 1700577 sudzee
sudzee's picture

Printed 1's and 0's no longer accepted as money.

Fri, 09/23/2011 - 09:11 | 1700675 Zgangsta
Zgangsta's picture

So...stock up on nickels, quarters, and five dollar bills?

Fri, 09/23/2011 - 08:48 | 1700580 Terra-Firma
Terra-Firma's picture

Zerohedge......is the only change you should believe in


everything else is just obummer.

Fri, 09/23/2011 - 08:50 | 1700586 youngman
youngman's picture

Interesting..he didn´t really say what to do with your money did he???

Fri, 09/23/2011 - 09:02 | 1700636 the not so migh...
the not so mighty maximiza's picture

its implied   babes, bullion, bullets, beans, beer, and bunkers

Fri, 09/23/2011 - 08:50 | 1700588 boom goes the d...
boom goes the dynamite's picture

Is  today Black Friday or is that next week?

Fri, 09/23/2011 - 08:50 | 1700589 orangedrinkandchips
orangedrinkandchips's picture

His ass will be fired for TELLING THE TRUTH....


poor bastard.

Fri, 09/23/2011 - 08:55 | 1700606 cossack55
cossack55's picture

No shit. His chances of guesting on Quack on the Street just went to the same level as Mike Pento.

Fri, 09/23/2011 - 08:57 | 1700610 DaBernank
DaBernank's picture

Poor KITCO live silver page is broken doesn't even send a chart anymore, their servers must be broken with people hitting "refresh" on their browsers every second. Not really worried, not "all in" had some speculative positions in ETFs that are getting wiped, c'est la vie, I did well now I give some back. If it's *risk capital* it's not a huge problem now is it? People betting with their retirement money, kids' college funds, food money, are fucked.

Fri, 09/23/2011 - 08:53 | 1700593 junkyardjack
junkyardjack's picture

The real drop is about to come.  Moves like this have got to crush a lot of hedge funds.  Everyone bet on Gold and its done for now, LT holders may be in the clear by later this year but can the levered funds using OPM withstand the pain?  AAPL is the last standing safe haven for now

Fri, 09/23/2011 - 09:10 | 1700668 Scisco
Scisco's picture

Psssttt. I got a secret. Apple sells luxury goods. All but a few are getting wiped out right now. When it comes down to a choice between the iPhone 5 and or keeping yourself warm, who do you think is going to win.

Fri, 09/23/2011 - 09:34 | 1700773 Going Loco
Going Loco's picture

But you can burn an iphone to keep warm. While you tuck in to your oh-so-nourishing ipad.

Fri, 09/23/2011 - 09:39 | 1700792 Spastica Rex
Spastica Rex's picture

iPhone 5 and then riot against the evil government for not keeping us warm.

Fri, 09/23/2011 - 11:16 | 1701292 Storch
Storch's picture

Two thirds of those in the poverty index pay for cable telivision. Obviously the iphone will win.

Fri, 09/23/2011 - 11:17 | 1701294 Storch
Storch's picture


Fri, 09/23/2011 - 08:52 | 1700596 Bindar Dundat
Bindar Dundat's picture

The world is not ending you idiots!   It is just changing.

Fri, 09/23/2011 - 08:53 | 1700601 junkyardjack
junkyardjack's picture

Like it did for the Mayans

Fri, 09/23/2011 - 08:56 | 1700611 cossack55
cossack55's picture

Our turn next year.

Fri, 09/23/2011 - 09:03 | 1700643 Temporalist
Temporalist's picture

I think the great monster Bernankenstein killed the Mayans and is back for the second coming to destroy what is left.

Fri, 09/23/2011 - 09:32 | 1700766 Wynn
Wynn's picture

The Mayans weren't destroyed. They just said fuck it.

Fri, 09/23/2011 - 08:56 | 1700612 Mitzibitzi
Mitzibitzi's picture

I agree. But my opinion would likely be different if I lived in an inner city.

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