ES Closed As Gold Continues Trading, Passes $1900
All stock jockeys can now step away from the terminal: both Europe and ES are now closed until late this afternoon which means the E-Trade momentum chasing baby will have to suffer its losses for at least 6 hours in complete collateral call misery. In the meantime, however, gold continues to trade for a little longer, and at last check the spam nemesis was trading over $1900 once again and just one less well known dead president away from its all time highs. We expect the record to be taken out possibly as early as this evening.
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nothing like a celebrating little tradition today, on labor day.
The barbarous relic is saying 'F.U.' to the world monetary regime.
.
Keynesians: Barbarous Relics ...
looks more like an abortion day than labor day
fiat being aborted
my wallet, my choice!
Yellow shoots.
Just change the color, and Benocides' memo still applies.
barbarous relic, bitchez
hope you're all having as happy a labor day as me!
http://azizonomics.com/2011/09/03/chinas-monetary-endgame/
+ $1900 and green
Having a pretty good day myself, thanks.
So far this weekend I have pulled $1500 from the ATM. Tomorrow: $500 more, then off to the coin shop for another Gold Eagle.
Tradition and barbaric relic. Bring it, bitchez!
Do,@13:40
Had another one of my GUT feelings(love that Gut) Thursday, and snagged another 2 Roos.
($18.00 over spot)<grin>
Happy camper going into Tues,I can't wait to see if the more, intelligent folks at CMEx do more hikes ,and lower the prices again for us.
They play so well.
Backed into the corner of their own undoing, faced with a country of now starving havenots and Gee-I-didn't-plan-for-fiat-failure's, the Fed Government, in a stroke of genius, pits the masses against evil speculators and those who've known and saved for themselves and moves for a Grand Reset, offering goodies and promises for a new nation, and demands confiscation of gold and silver for a NewWay, a multi-national currency tied to a basket of metals. As people are their witness, no citizen will ever go hungry again.
couple problems...in 1933 the money supply the people held WAS gold. Now, it ain't. Also, now there is an insignificant amount of private gold to make a difference.
It would be MUCH BETTER to just seize everyone's house and charge them rent on it if the .gov wants to go full retard and grab shit. Taxes will be much cheaper than seizures to implement as well.
Seizing people's houses (under your scenario here trav) will STOP once 25 - 50 goons are shot DEAD. MSM can't kill that story.
Same with our gold.
Same with our guns.
Will I be one of the 25 - 50 who shoots them dead? Maybe, maybe not. But, there are plenty who WILL in our country of 85,000,000 gun owners.
I don't see any problem with using gold as a benchmark without a fixed price. Certainly bonds aren't required to have a fixed price.
Looks like the latest move in gold is ironing out Dodd-Frank along the futures curve:
http://finance.yahoo.com/q/fc?s=GCM11.CMX
If this isn't how Oceana was created, I'd like to know the difference. But before the Grand Reset, as you know, was the Great Culling Forward.
Barbarian.
Who's a gold thug ?
I know how we can fix all this chaos.
Trillion dollar jobs plan. Boom.
I certainly hope so. Add another trillion dollars of debt. It'll only help my gold and silver holdings!
If you want to see how truly stupid Waters is, watch her questioning Bernanke during the house hearings re the Fed. This is a woman who has sat on finance committees longer than dirt has been around and is flummoxed by simple terms.
Maxine Waters is a genius. She's Rene Descartes personified in a short and stocky chocolate fudge stick.
Never put Descartes before hors d'oeuvres.
She represents her constituents very well
They certainly deserve each other.
http://revolutionarypolitics.tv/video/viewVideo.php?video_id=15915
Her community is upside down. Women are the source of money and housing by be being unemployed, unmarried mothers. Men are not (men) and shoot each other for slights called "disrespect". (Actual, confident men would not behave this way.) And, the worst is Maxine exploits them most.
+ $1900 and green to RSloane, bob-d, sun and Payable!
Yep, Maxine is really about the worst one in DC (at least operating in the open). She evidently does EXACTLY what herr district wants her to. They are getting what they ask for.
What a great country!
reminds me of marion(crack and hookers) barry
Shit got real in the Eurozone today. Black Tuesday tomorrow? Or Ben/Timmay/Barry to the rescue?
im going to go with the latter..mother of all saves via some nifty levitation
No saves tomorrow.
Ben & Timmah want the swan dive to continue so that QE3 is booked and bagged.
Wallowing in their own crapulence...
Sounds about right. The thing keeps falling until we get a QE announcement/capitulation from the Fed. Then decent rally. Investors soon realize this is not a liquidity problem, and a big sharp downleg ensues, starting in early Fall.
SJGR in the Eurozone today
SJGR in America very soon.
Mark Steyn has a brand new book: After America. I have read only 40 pages or so now, but he is REALLY PESSIMISTIC on our chances. Passed the point of no return and all that.
I got my copy of After America signed by Mr. Steyn. His inscription told me not to worry because in the musical they would "Change it to a happy ending."
What is frustrating is 15 years from now people will say nobody saw the collapse coming despite the millions of people describing how it would happen.
Ain't seen nothing yet. The crisis has yet to truly explode in Europe, though it is now gaining momentum at a faster clip. When the sovereigns begin to fall, gold will follow an exponential curve up.
portugal is trading wider than WM was when it was lookin BK as a foregone conclusion during 08
damn it. somebody get the band to play louder....
They're all piled atop each other against one wall. Not sure why.
Hmmm...maybe if we move all the deck chairs to the other side...
Priceless!
TD, my money is with you buddy, just start your fund.
TD is trying to liberate you, not enslave you....................
agreed, or else where would we get our straight and fresh from the oven news..
The only fund you need is physical gold/silver along with the means to protect it
tis true sun tzu
Guess you haven't heard yet but gold is going to, gasp, correct soon... /sarc
And you can't eat it! (Even after digging it out of the ground for only $5.)
And you can't buy salt-and-hydrogenated-oils-laced-shit at your local 7/11 with it!
And it's heavy --- so, so heavy! Why, who would want the stuff?
+ $1900 to you akak and green! I finally catch up to greeting you again.
Yeah, really. Who wants gold? Oh! The Socialists would be GLAD to take it off our hands, for $50 / oz.
Gold, bitchez! Even if it does only cost $5.00 to get it out of the ground.
That's why they still value it at $42 in the books; that's what the people will be given for it.
Gold up 9% last month, silver strangely up 9% too. Strangely cause it somehow feels like silver lacked action. Yes, I know silver price is 115% up last 12 months but gold seems to have taken pride of place.
Wow, someone's been throwing everything including the kitchen sink at trying to keep gold under $1900 today.
Hope you like crockery in your spag bol!
did anyone notice the lackluster move of Pt? It is ~$15 behind Au, unfreakinbelieavable!
This morning, Telegraph had a front page [online edition] hit titled "Platinum outshines gold", quickly redacted to "Platinum could be a better bet than gold"
http://www.telegraph.co.uk/finance/commodities/8740438/Platinum-could-be...
The old distraction play. Any time they want you out of a metal they bring up platinum palladium and all kinds of crap metals. Palladium was supposed to go through the roof because of Organic LED's. Which never really became viable despite 10 years of frikking pump jockeying em. LED displays are only good in small sizes and shouldn't be used for monitors. They'll bring back tube monitors in a couple years or piss people off with LED displays that die every 2 to 3 years. The panels when they are large develope too much resistance as they age.
"Fascination with gold hampering India's growth story"
http://economictimes.indiatimes.com/markets/commodities/gold-rush-a-spee...
This sums it all up "Money spent on gold is mostly wasted because it's only hoarded and simultaneously excluded from the financial inter-mediation system," said Abheek Barua, chief economist, HDFC Bank."
How can converting currency to money and hoarding it be interpreted as "wasted"? And a growth of 8.5% FY of 2011 does not sound like a hampered number, more like boarderline overheating. The hoarding of gold instead of debt, like the Western World is so fond of, sounds pretty smart too. However, common people saving money is not what keynesians and banksters want. Title of chief economist is slang for paid liar IMHO.
Prescient_Point Mon, 09/05/2011 - 13:58
This sums it all up "Money spent on gold is mostly wasted because it's only hoarded and simultaneously excluded from the financial inter-mediation system," said Abheek Barua, chief economist, HDFC Bank."
Yes, it does sum it up...........................( translation), We can't get our filthy stinking stealing hands on it, and make a killing off your BROKEN BACKS.
Eat shit and die.(Abheek)
I have an infatuation with Pt and own some. Thanks for the news update.
But gold is the better bet to preserve our wealth. And I own MORE gold. And will buy more.
Platinum is for optimists!
Platinum is more of an industrial metal even though it is sometimes used in jewelry. Gold is more of a safehaven and store of wealth
same is true of silver
Platinum has no history as money.
All the same, I was considering some platinum as diversification. I know that you like platinum Trav; do you like it as a 'risk asset' or do you think that a major price surge is actually likely?
Actually, platinum DOES have a history as money: The Russian Empire issued platinum coins for circulation for several decades during the first half of the 19th century, in the world's first and only (ill-fated) attempt at a tetrametallic standard.
http://en.wikipedia.org/wiki/Platinum_coin#Imperial_Russia
I stand corrected. Nonetheless, as you say, the first and only attempt. Not much of a pedigree, and of no contextual significance. It is akin to moments in history from place to place, where pearls, beads and menhirs may have been used as money.
"Menhirs"! Now THERE'S a word that one does not run across every day!
Have you ever seen the stone "coins" of the island of Yap?
I shudder to think what their vending machines must look like!
The elephant in the room is...NIOBIUM.
China just bought 15% of the world's largest niobium producer:
http://www.reuters.com/article/2011/09/01/cbmm-niobium-idUSL4E7K11GL2011...
Anyone thinking about PT trades or aquisition had better bone up on Eskom and the correlation to PT thereof. Eskom's reliability consequentially affects the worlds PT price bitches. if you don't understand that, probably best to remain home and stay out of the sand box.
http://financialresults.co.za/2011/eskom_ar2011/index.php
now we know why they didnt blow up fort knox to get gold higher. other than the fact none is there
Plenty of gold there! All that FDR confiscated gold from 1934. Only problem is - it's not good for delivery! All that gold was 90% in the form of coins, which is 22 carat and the Treasury did not smelt! Only melted it. So all those bars are not "Good for Delivery" bars that is set out by the LBMA, which must be 24 carat.
yeah I think the sovereign can "deliver" this stuff if they want to.
OutLookingIn ,
So all those bars are not "Good for Delivery" bars that is set out by the LBMA, which must be 24 carat.
Believe it's .995.....................not 999.9
Either way, Eagles/Libs were only 91+.................
FOFOA also believes the gold is still there at Ft. Knox, he is NOT a conspiracy theorist. Occam's Razor and all that.
Still, it would be correct to have an audit of both Ft. Knox (and other Treasury gold vaults) as well as the Fed's holdings.
Frankly, I could care less if ithe bars are 22 kt, which does seem probable. As long as what they say is there actually IS there.
As long as what they say is there actually IS there . . . when they're also soon to say it's all theirs?
___that is, depending upon your definition of what IS. is
Priceless... gold that is.
Silver? ohhh silver! Time to get up and get to work. And you miners! Lets kick some ass after labor day!
"ES" .....what index is that?
stands for "Elephant Shit" composed of, guess what?
Beats me....equity shares...index unknown
for real though who would trade this circus act of a market without at least having live actionable stops via globex /ES ? Lets all play the stock game and wait until 9:30 am time after time to get stripped out of our positions and money.. like playing Russian roulette except in reverse with 5 rounds chambered in the 6 shooter. Who's next ?
the deer hunter. bought srs lately?
http://en.wikipedia.org/wiki/E-mini_S%26P
Super deal.....'preciate it.
According to US government investigations the sale of 75,000 E-mini contracts by a single trader was the trigger to cause the flash crash on May 6, 2010
It is the lone gunman on the hillock.. er.. in the tower... in that apartment. Whatever, it caused the 2010 flash crash via a single person using their Iphone to trade on.
Capice?
s and p 500 futures traded on the globex.
cds is still trading. it is closing at its wides and with absolutely NO liquidity!
no no, italy's stance is more provocation, the whole damn system is culminating to provocation...who's gonna throw the first punch is the real bet. a big f-ing war complete with grudges stemming from monies owed, and negotiations gone sour is the goal.
I tend to agree - it seems to be one big game of chicken - who blinks first in this Greek tragedy?
the PIGS daring ECB (i.e. Germany) to pull the plug on them, knowing that German (& French & Swiss) banks will then be in need of their own bail-out by the very same taxpayers who are being asked to support eurobonds? I doubt the PIGS will ever change from prefering to play with other people's money - if in the unlikely event that Germany boots them out of the Euro, they'll go back to living on borrowed money & time like they did before they joined the euro...just don't ask them for their gold as collateral...
or
Germany, or more accurately German politicians, who are committed to the Euro, facing increasing hostility from their own voters aka taxpayers...do they commit political suicide for what they think is the "greater good", or do they represent their constituent's interests & let the PIGS wallow in their own mud?
Then you have the "innocent" vultures, er, bystanders, like Goldman Suchs, JP Morgue, making huge CDS side bets on Greek (& Italian) sovereign default and default of exposed european banks, giving them a vested interest in default (& break-up of the euro - think of all those additional fees they could charge if instead of one euro carcass, there were again 15 that needed to each issue bonds, get rated, etc.?)
I suspect in such an environment, where it seems to be every man/woman for themselves, it will be very difficult to find a moderate solution.
That said, I expect that German politicians will turn their backs on their populace and ultimately cave to demands for supporting the issuance of euro bonds, selling it as a necessary Euro sacrifice for the sake of history & to counterbalance undue American influence and interests.
Everyone have their physical gold yet?
Got mine and will get more.
while PIIGS CDS is "kinda" offered, Spain is outperforming...
5YR CHG
GREECE 2450-2650 +200
SPAIN 415-425 +25
ITALY 445-455 +45
PORTUGAL 1000-1050 +50
IRELAND 810-860 +35
SEP 2016
Us barbarians are happpppy!
please please please do not allow me to get sucked into the Gold is always going to go up vortex. My last trade cost me over 2,000 Euros in Loss. "It's gonna go back up it's gonna go back up!" What an idiot. Rrrrrrrrr
Don't blame others for your bad sense of timing and lack of restraint.
No, you should take your loss right away, before it really gets out of control and you end up with nothing... oh the horror... 2000 euros... gasp...
If you are trading your phys, then your last sentence is approrpriate. But at least you realize it. So stop playing with yourself and gamble with paper instead of your future.