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ES Closed As Gold Continues Trading, Passes $1900

Submitted by Tyler Durden on 09/05/2011 11:47 -0400

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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Mon, 09/05/2011 - 13:14 | 1634897 lieutenantjohnchard

it still amuses me that folks would rather play the paper game at this point in history rather than own shiny. guess that is what makes the world go around.

Mon, 09/05/2011 - 14:30 | 1635228 DoChenRollingBearing

I don't get it either. Why any intelligent and aware person is NOT FREAKING out buying physical gold is beyond me.

Mon, 09/05/2011 - 13:27 | 1634941 razorthin

At the risk of sounding like Mr. Obvious - I have no doubt that the goose egg reported on Friday was a tactic to help sell this upcoming "jobs plan". Since there is no question that all public numbers are a farce, what else could explain the release of such a number?

Mon, 09/05/2011 - 13:29 | 1634954 Prescient_Point

And meanwhile Indian bankers propaganda on Gold sucking the liquidity out of markets. Goes to show that Bankers are Bankers no matter where they are... However Indians are much wiser and take any of this crappy propaganda...

"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."

Mon, 09/05/2011 - 14:05 | 1635080 akak

Banker, heal thyself --- preferably with a bullet to the cranium.

Mon, 09/05/2011 - 14:07 | 1635099 Zeff

Reach $2000 for Nouriel to shut up. Please.

Mon, 09/05/2011 - 14:24 | 1635181 akak

The only thing that is going to finally shut up this lying and disingenuous. bankster-shilling Count Chocula is a stake of $3000 gold driven straight through his fiat-loving heart.

Mon, 09/05/2011 - 14:35 | 1635259 DoChenRollingBearing

Now you're TALKING!

+ $3000, green and ha ha ha!

Mon, 09/05/2011 - 14:21 | 1635166 davepowers

for those who saw Bob Pisani's trip to the GLD vault via limo wrapped in black garbage bags last week

http://www.kitco.com/ind/McWhinnie/sep022011.html

Mon, 09/05/2011 - 15:04 | 1635414 unununium

So now we know whose bar it was. The only remaining question is "how long has it been theirs?"

If it's an "old and cold" ETFSecurities bar then Pisani's piece is exposed as outright fraud. He was NOT showing us GLD's gold. He was showing us SOMEONE ELSE'S GOLD !!

http://www.kitco.com/ind/McWhinnie/sep022011.html

Mon, 09/05/2011 - 14:23 | 1635175 DosZap

An FYI, anyone using Kitcos Charts, they are not working.

Mon, 09/05/2011 - 14:37 | 1635272 DoChenRollingBearing

24hgold.com's chart seems to be working OK, don't forget the "h" in there!

Mon, 09/05/2011 - 14:40 | 1635298 akak

I categorically refuse to view Kitco's charts, or to even ever click on their homepage, given their endorsement of the vile, reprehensible, malicious gold-hating propagandist Jon Nadler as their official spokesman. Why any self-respecting bullion dealer would employ such a charlatan and blatant fraud as their spokesman is a complete mystery, but I will not have any dealings whatsoever with Kitco, and I encourage others here to boycott them in every way, shape and form. The vicious anti-gold lies and pro-establishment propaganda of that snake Nadler MUST be challenged, and the best way to do that is to refuse to even click on their website.

Mon, 09/05/2011 - 15:10 | 1635454 DosZap

akak @14:40,

I just read the articles of interest,(overseas) and use their REAL time metals chart free(slap it on my taskbar),24/7/365.Refresh ever 10secs.

Never read, nor listen to NADS, as he is usually like RUbini......................

Nadler is the LONE Stranger on the site..............................brought in for comedic relief.

Mon, 09/05/2011 - 15:18 | 1635494 The Deleuzian

DosZap

I read Nadler everyday, well when I can....

LOL's, it's perfectly timed, Do you really believe a site like kitco would employ a "hack'...???? Come on guys!! Smile a little bit!!!

Mon, 09/05/2011 - 15:10 | 1635455 The Deleuzian

akak

your taking it all too hard man!!

We need nadler & co because when Nadler turns goldbug you know it's time to buy farmland and that bitchin' camero you know you always wanted.... dude!!

Nadler is a goldbug, he knows as well as I, keep gold-bashing, it will only go higher!!!!!!!!!!!!

Mon, 09/05/2011 - 15:22 | 1635504 akak

Nadler, publicly turn goldbug? That would be equivalent to Bernanke going full-bore Austrian and pro-gold --- ain't never gonna happen! The man (Nadler, that is) is far too beholden to the central bankster, pro-fiat financial elite to ever truly recognize, much less publicly endorse, the value of holding gold during the collapse of the financial and monetary status-quo. He is a willing and vehement Establishment lackey to the very depths of his black and soulless heart. If you could only read some of the outrageously arrogant, ignorant and laughable private communications I have had with the man, you would realize that he is simply evil.

Mon, 09/05/2011 - 15:31 | 1635539 The Deleuzian

akak

I have never had direct communication with the man...

It doesn't matter... We all know the PM's are in a secular bull..

Ride it man... if you think Nadler is a POS!! Well he's a contrary indicator at best and a total fuckin' lost market commentator at worst!!

Either way, we win man!!!!

Mon, 09/05/2011 - 15:45 | 1635591 akak

Yeah, I agree with you.

I really used to let Nadler's bullshit get me steamed, mostly because so many (so-called) "news" outlets like to use him for quotes and interviews on gold, which is maddening in the extreme --- like asking Hugo Chavez for an interview on the benefits of American geopolitical hegemony. Nadler's irrational, illogical and innumerable anti-gold comments over the years speak for themselves, much less his formerly rabid and frequent ad hominem attacks on "Radical Goldbug Extremists".

Mon, 09/05/2011 - 16:20 | 1635708 The Deleuzian

akak

I'm proud of you bro....

Let the nonbelievers twist themselves into coils...

Nadler should not upset you...

You're smarter than that akak.

Why would you let nadler ruin your day.. many more things to worry about than market caller who's been wrong since gold broke $300

He's a broke joke...............................

Mon, 09/05/2011 - 17:01 | 1635827 akak

You're right, of course, Deleuzian.

Nadler is going to drown in his own paper, and hopefully hang after the criminal nature of the "pooled PM accounts" that he was instrumental in setting up for Kitco is finally revealed, and they are proved to be nothing but the Ponzi-esque frauds that we all really know them to be. THAT was Devil's bargain that Bart Kitner made with Nadler, and most likely explains why Nadler was not long ago summarily dismissed from his otherwise inexplicable position as the gold-hating spokesman of a major precious metals dealer.

Mon, 09/05/2011 - 17:02 | 1635849 The Deleuzian

Akak

Spread the word brother..........

Mon, 09/05/2011 - 17:26 | 1635905 slewie the pi-rat

hey ak_k!
nadler is probably just their insurance and legal's answer to: "what if we get sued for over-hype?" but he is cogent, mainstream, and for years now, incredibly freaking wrong

still, i do punch up kitco a few times/week when i can't find others on goldSeek or elsewhere (yet), including:
~merv burak,
~chuck butler (who also comes on bonner & wiggins' The Daily Reckoning - Entertaining Ideas on the Economy, Markets, Gold, Oil and Investing Strategies, but not til 3-8 hours later),
~przemislaw alphabeticus,
~the coffins,
~ned schmidt,
~warren (great charts) bevan,
and others such as ~"graceland stewie" thomson & ~jim willie, almost all of whom also publish elsewhere [3 2 1 g o l d ... Welcome! ; The Silver Bear Cafe - Precious Metals ; GoldSeek.com]
kitco also has charts for XAU & HUI (on the main page) and covers some other mining etf's as well as the toronto stock exchange, plus they have a heluva "library" as well as pdf's from some of the bullion banksters or their v. close relatives (scotia mocatta comes to mind)
other than that, you're right! they suck! L0L!!!

ahoy to ya, pirate!

Mon, 09/05/2011 - 20:05 | 1636370 Prometheus418

I like Franklin Saunders as well- not because he's an excellent forecaster (he's had plenty of terrible calls lately,) but because he's entertaining to read. Also like the real-time charts on silverprice.org.

Mon, 09/05/2011 - 17:30 | 1635918 davepowers

I once read on Mish's blog that Nadler was also Public relations Director for Kitco, in addition to his commenting job.

Don't know if it's true. I've never seen anything on the Kitco site confirming that.

If true, it would cast a different light on his commentaries, agenda wise.

Mon, 09/05/2011 - 14:43 | 1635315 The Deleuzian

Once the shinny is bought & paid for... buy quality juniors.. were talking internet stocks X's 10....

Mon, 09/05/2011 - 15:04 | 1635411 zero_sum_fame

Let's just all sing along to this one:

http://www.youtube.com/watch?v=vWz9VN40nCA

Mon, 09/05/2011 - 16:42 | 1635789 TradingTroll

GLD is a great short here. I stack too, but I fund my stacking from trading. Gold price is very weak against European events that warrant $100+ daily gains. Gold will not crest $2000 for more than a day this year. Might as well stick a fork in it. I was short GLD in Aug and will do it again.

GLD will suffer from the huge liquidity withdrawals from the market the next few weeks.

Mon, 09/05/2011 - 17:48 | 1635966 seek