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Euro Gap Down Confirmed In Premarket Trade
At the Friday close, there was a spurt of rapid EUR selling at the close, taking the currency to the lowest since January 2011, at 1.3367. It turns out it was not a fat finger - with a spate of traditionally euro negative news over the past 48 hours, most notably yet another negative Greek deficit revision which will make the Troika's job that much more difficult in justifying the need to fund the next IMF bailout payment, the EURUSD is now even lower premarket at 1.3344. With the rumormill thoroughly exhausted, and with nobody in Europe having any credibility left whatsoever, we fail to see what can catalyze a move higher before the Asian open, which will likely not be a pretty way to start the final quarter of the year.
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first bitchez
Tee it up Tiger Woods!
Homo
neanderthal
So Euro down, stocks down dollar up. Interesting opening to October...
PMs down... Shit.
Did anyone see the hit piece that Fareed Zacharia did today on the "bubble" price of gold?
Yeah, and he just had to use the dusty old "you can't eat it" argument. What a douche.
Green, Rocky. State Run Media hates gold. CNN is about as "State Owned" (elite owned) as it gets.
It is so important to watch, read and then judge for yourselves. Danger everywhere, around that curve, behind that tree...
Extending on "State-owned", I may have missed if already posted here, but protesters still getting 'owned'. Article references video capture where a peaceful female protester is pepper sprayed (second link).
http://www.marketwatch.com/story/700-arrests-later-wall-street-protest-continues-2011-10-02
http://www.youtube.com/watch?v=nMoKsZp5iao
BTW, if the police move the orange net separating the sidewalk (protest zone) and roads (off-limits) and actually walk with it onto the sidewalk (1:29) then what part of the sidewalk does a protester stand on without getting arrested or pepper sprayed? (rhetorical, but feel free to voice your opinion because I'm sure how much longer we have for that)
Anyone,
http://www.sgxniftydowfutureslive.com/index_files/DOWFUTURES.htm
is showing DAX and CAC 40 futures down BIG TIME (6:25 or so PM ET).
Anyone have any expertise re this site?
It is showing gold and Euro futures very steady as of now.
DCRB, don't really have comments for that site other than it should be running real-time, but keeping my eye on Germany, as I think their news is 'everything news' for the next bit
yes, i use that and i like it a lot, but it is futures, even when the cash markets are open, but gold & silver are spot
when i first started using it, the wheat price was waaay low compared to the link below, though; then they fixed it early last month and no problems since
i got it from one of these strings, a while back, too!
this simple "idiot's" page > also has the stock "markets" > w/ the commodities with slight delay, but w/ a time-stamp of the index or price: Commodity Futures Online Trading - Bloomberg, [asia, europe and US stock indices]
Thanks slewie!
If you watch the video closely, some douchbag let loose with the pepperspray and pissed off his/her fellow officers. I don't blame them for that. Of more concern to me is the recent JPM donation to the police fellowship fund. There is about to happen a bad thing, no matter whether the police have light or dark in their hearts, they will be subverted like everyone else.
This recession brings the truth out:
http://www.neatorama.com/images/2006-06/pyramid-of-capitalist-system.jpg
military/police thugs are above professionals and certainly above anybody who actually produces something.
Ever wonder why military/police have best pensions?
CNN is full of douchebags, even worse than Fuxxated News. Nobody pushes the status quo more than those maggots. Now they've hired Erin Burnett from CNBS for their business news show
Yeah, he said the same nonsense that Canadian reporter said- gold isn't backed by the govt like dollars~!
He proclaimed that private investment demand is down and jewelry demand is down. He completed omitted the fact that central banks continue to buy.
He also lumped together video clips of Chavez, Trump and Glenn Beck implying that only "crazies" believe gold is a sound investment.
BTFD....
the reverse gear on my truck is ready for more abuse.....
STAMINA, Captain. I have been buying for decades, and see this kind of stuff all the time. I dedicate part of any new income arrival to buying gold. Did so just 6 days ago. I will later this month when I expect to get more FRNs in.
The abuse you feel is short-term. You will feel better once you have more PMs tucked away. Sitting there quietly. Ready for any heirs you may have in the future.
no abuse here, bearing....
phyiscal silver coins for lunch tomorrow....
im there,,,,,
p.s. reverse gear... back up the truck....get it!!!!!!
Hey, hey. We're picking up reds and greens!
And we're there Cap'n. Maybe the red pushers missed out... Hah!
dont laugh bro. i still catching up on pm's. that could have been me....
Be careful. The market can stay irrational longer than you can stay liquid. I've only been in the market for 12 years, but I've seen bankrupt companies stay propped up for years and I've seen. I've seen them run solid companies down to penny stocks then back up to $80. Take a look at the stock price of DTG over the past 3 years. TPTB are psychopaths
Two words for strong dollar: Dry powder. The physical silver market is showing evidence of drying up. People aren't selling their physical at today's prices. The people that have been buying the past few years are taking the metal off the market for long term wealth and they don't worry about the manipulation. I'm continuing to buy, hope you are too!
Any market with a gargantuan derivatives market in the trillions written against it is inevitably crashworthy.. ie housing, silver, gold. they said homes were safe hard assets too in '05 able to weather all financial storms.
My land is the same acreage and my physical PM stack is the same number of ounces no matter what the derivatives market does. Paper and derivatives crash. Real wealth doesn't.
Good for you
@ Captain Benny, green
Just go look at the 24hgold / eBay widget (24hgold.com Home Page at the bottom) and you will see a majestic 86% premium of Silver Eagles vs. spot.
The widget is very imperfect, but I think it has some value as to showing when people do not want to let their PMs go too cheap. Gold Eagles are at a very high 25% over spot, the highest I have ever seen there.
Here's an interesting interview. Demand for physical silver is through the roof. Retail investors appear to be waking up. They're buying silver like it's the last time they'll be able to get it. Who knows ... they could be right. Interview starts at the 21:45 marks and runs about 20 minutes.
======================
“Knowing When and What to Buy in Precious Metals”
Jim addresses the important topic of "knowing when and what to buy in precious metals" in the Big Picture. Jim is also joined by Kathy Derbes CFA of KDerbes Precious Metals LLC to discuss the recent wave of precious metals purchasing at the retail level, and how the premiums have escalated.
A native of New Orleans, Kathy graduated from Vanderbilt University with a BE in Civil Engineering. Following six years of engineering experience, Kathy began her investment management career.
http://www.financialsense.com/node/6518
There is a lot to be said for having dry crisp FRNs ready to go when real bargains truly appear; which imho is high teens for silver. Sorry guys. Euro is falling apart and markets worldwide are starting to pop rivets. In cash.
Germany printing Marks?? I wonder if this could be a contributing factor?
http://www.economicpolicyjournal.com/2011/09/super-hot-insider-reports-g...
If it is, this could be a huge story!!
Germany is going to exit the euro. That's the surprise this week. They are printing marks. The euro is not long for this world. Cat is out of the bag.
here is the source (very credible) but unclear if it is specualtion based on the wording and heading of the piece
http://www.pippamalmgren.com/77.html
Not sure what to make of this. Don't go 'all in' on it though. I got very excited when I first came across it. Further thought though makes me suspicious. Would a genuine insider telegraph this?
Doubtful.
We deal with lies and lies are how they deal.
Be distrustful.
Excellent point!! Stay grounded and cynical and don't let emotion drive decisions! Thanks ISEEIT!
Yes, ISEEIT and yes Abel. Good points, green for that.
This story broke early last year as the imminent return of the DM. When I see Germans using it as primary cash for everyday spending, I'll believe it.
Hi ISEEIT.
I don't see the big deal. I just assumed Germany and other euro nations were busy secretly printing a stockpile of their own currencies since 2009.
By the way. Any word on the "new" 2009 $100 bills? The ones with the "gold colored" inlay? Hmmmm. I haven't seen any yet.
Definitely looks like an opinion piece. And opinions are like assholes......
It's every man for himself. Or in this case, every country. When cooperation starts breaking down, it's time to head for the exits.
I'll go with "they'll pay greece to go away" for $200, Alex.
Why would they approve the ESFS and then suddenly exit the Euro? Something doesn't add up here...
Easy fellas! PMs will rebound and rumors are a dime a dozen... deep breaths folks...
Hoping for 1.15 next 3-6 months
fuck, need to pay about $3000 dollar bills in euros, in about 4 weeks...
Payday, bitchez
it could be good for you then: the further eur/usd falls the more Euros you will get with your $
Zooro liability == $3000 / EURUSD, EURUSD VVV == Zooros ^^^
Now where did I leave my knife catching mitt?
Over there....with your hand, man; you should really get that looked at. ;)
Lots of PMIs tomorrow. Manic Monday bitchez
I'm with ya Bro'. Seriously thinking we will see 1.25 in October. I'm watching EUR/JPY. If it dips below 102.50 I'm going (small) long. This is killing the Japanese. Not sure where to set a target but 107.00 doesn't seem far fetched.
After if spikes below 1.30, look for these two words to receive massive amounts of mainstream media prominence:
TRIGGER EVENT
Look for oil to make the great unwind...with china slowing, a rush to the US dollar, as ships filled with oil (own by JPM and GS) dotting the oceans from the States to Europe. Crude breaking the all important 80 mark( on my charts) risk off-and- margin calls... Oil to 60 by Christmas...... of course it will bring the SP with it......
Oil below $80 = war. That simple.
Really? Between whom?
I'm waiting for the wti-brent margin to come in, short gasoline.
Well, if the Euro goes down... I wonder how long before the USA's deck of cards aka funny money will last.
With the Wall Street Protest, and the epic 4.6 million given to the NY Police Dept as protection money from JP Morgan Chase... I can only expect the feces to hit to whirling fan blades at some point.
So, where do you / will you stand? With the people, or with the Bankers / Wall Street / etc.
http://www.youtube.com/watch?v=QuwvNDSEM_k
The time is getting closer to decide which position we are going to take. I for one am going long on silver, guns, ammo, water and food... anyone else is welcome to do as they please. But much like Jinga, sooner or later if enough lies are exposed, or enough blocks pulled from the propped up structure, it will collapse.
Pls check this post in TF metals:
http://www.tfmetalsreport.com/comment/64599#comment-64599
They allow posting pictures, and thus post becomes much more informative.
First!?
US vs EU toe to toe? Once the devalue genie is out of the bottle i fail to see how this is anything other than the economic equivalent of a Manichean Struggle.
http://www.youtube.com/watch?v=cCZQIFodbUk&feature=player_detailpage
Great way to start the week. I hope Euro collapses, USD jumps, and silver plummets to sub 25. Back up the fucking truck. Physical of course. Paper silver is just another fucking ponzi.
This is off topic but your picture is a great way to start my week! A bit of a tush for a good push!
For a bounce, silver could washout around 15.
Wow, if it actually hit $15 that would be a serious "should I put my whole net worth into this" proposition.
$15 is the "pre-QE2" price. What's happening right now is the QE2 unwind, but silver should have tons of support at that level.
What's happening right now is the QE2 unwind,
Good point. We're now seeing the tiny boost QE2 had on the economy fading away. Falling back down thru QE2, headed down to QE1, probably down thru that too, back to Sept '08.
Would be great if PMs fall back to '08 level, second chance to load up, but not likely with much greater awareness among people how fucked up the financial system is. 3 years, trillions in back door bailouts, no economic improvement to speak of, not one perp prosecuted.
follow the yellow brick road, bitc.......er, Dorothy.
".......With the rumormill thoroughly exhausted, and with nobody in Europe having any credibility left whatsoever.....".......haha ...funny....
then now we should be Officially worried
this is good news for german exporters
And very bad news for American exporters (mythological? maybe...).
Green and yes, but lots of American exporters have lots of other problems besides a high US$...
Red October.
Parity in 3.. 2.. 1..
Remember , end result is everyone has zero purchasing power.
Enjoy your circle jerking in the meantime mother fukkaz.
Yea but we'll run our USD world reserve currency hegemony right smack over your euroasses a while longer. By the time our currency collapses you eurobitchez will be 3rd world.
That is just mean. Have you no sympathy for the globalist? Surely they intend only the best. I mean, their motivation is no doubt lovely. A bunch of saviours they are. Simply attempting to rescue the world from Capitalism. Such selfless sacrifice ought to be supported don'tyathink?
"we fail to see what can catalyze a move higher before the Asian open..."
Breaking News: Greek debt crisis averted in triple deal: U.S., Italy, and Greece.
A frantic last-minute deal before the Guam markets open on Sunday has provided temporary relief to Greece in a mutually beneficial trade deal between Greece, Italy, and U.S.
1. U.S. to invest $8 billion in Greece solar energy thru Solyndra II, a govt-financed private enterprise. The ambitious sunbeam-catcher project plans to market solar electricity under the trademark-protected "Greek sunshine" brand.
2. Greece will relinquish to Italy all claims to antiqities, classical art, "birthplace of democracy", "home of the Olympics", and bragging rights to any and all aspects of classical old world history.
3. Italy will free Amanda Knox to U.S.
More breaking news:
Guam capsizes-market fails to open.
Oh noes, we need another rumor to pick the market back up. Has Nigeria announced that they will buy an unlimited amount of Greek bonds yet?
Funny you mention that but I got an e-mail from one guaranteeing €100 Million cash if I hold €1 Billion of Greek 10 Year bonds and give him my all my details. Sounds cool, easy money bitchez...
Spoos closed at the low point on Friday, a drop below 1,100 brings 1025 in sight next week. Euro, market moves down all week, dollar strong, stocks continue lower. Come Friday, if we get a bad employment report, Ha!, stocks move lower at the open, then shorts cover and we have a relief rally. Nothing moves up or down in a straight line as those of us in miners know. My guess is gold holds above last Sunday low of 1,523 or so. Silver moves lower, do not see it hitting 25, too many like me looking for a good dip to buy and 26, 24 what difference does it make when you look at the entire picture.
The question is, Miners,!!! Do they continue to tank all week similar to equities, or are they carving out a bottom here. Friday they performed well on a relative scale. I don't think they move much higher yet as Timmayys dollar moves up. I took a bet and sold all my miners last week about 10 days later than I should have but am hoping to get them all lower. And if the margin clerk keeps doing what he has been doing, then all bets are off and down we go big time.
Still say, until 2 million march on Washington, NY, Chicago and LA. nothing will change. the bastards in Congress will not even take a 3% pay cut if you ask them. Country first, Bullshit. ME and only ME> If I do some good for the country also, well, that is a bonus.
Agree that nothing will actually change. There are no consequences to their actions, so they continue to squaner everything in sight. Sick.
Unless the credit markets lockup again. Rather play a silver bounce with agq than the miners.
First part of October is make or break week - all across the board you have major supports being tested, last week was consolidation after the massive drop and the rumourmill that soon followed to prevent all-out war in the markets.
Trading at 1.3333 in the market now, setting relentlessly new cycle lows.
http://www.thebeareconomy.com
Agree, NAS 100 broke out of its bear flag Friday, it has to move up immediately or else we are in big trouble. The iceberg is dead ahead. Will they see it in time and turn fast enough to miss it.
Stay tuned.
Bulls will need Pomo and the fed and the ppt and..... GS?
Key levels this week hold or blow
Run hyg with dow, spx, naz on yahoo. veeeeery interesting.
http://youtu.be/QlVWArmysic
Not a chance, monopoly, further breaking down in the money center banks and brokers internationally has kicked the support out of the overall market.
http://www.thebeareconomy.com
In my best Andrew Dice Clay voice "Spam"
hickory dickory dock
that blog sucks cock
OH!
+1.
down whole 40 PIPS. oh no, the end is nigh. evryone panic.
After the dominoes fall, Europe will survive. The contagion will then spread to US without any further success. Trumped up terrorist cells will be used to expand platform by weakening thru fear. The world will mock and disregard all planned society measures. Restoration will prevail between East & West. Continuity will be restored. Life will continue on, as if nothing happened.
The Chameleons - Second Skin
It's like some people can't see reality.
None of this is even remotely possible with Brent north of $100 For The Entire Year.
How is this not clear?
They can see it. The question is.. "do I want this or shall I redeem my sovereign rights as a human being."
The riots in NYC are another force feed attempt to reel in your emotions between fiction vs. reality. Once again, a few bad cops keep the masses pissed off. Divide and conquer is the ultimate goal. The upper echelon laughs at you. Stirring the pot amongst the peasants helps keep them out of jail.
OT: I thought ZH would be all over the Occupy Wall Street protests.
probably because they are almost wholly ineffective?
and many of the participants are clueless regarding the real reasons of protest?
americans walking away from their debt en masse would have a much more profound effect.
ZH has given lots of coverage to the European protests and where did that get the European people? Nothing. The bailouts continue.
Watching video of the protests, it does seem very "hippie-ish", but I can't imagine they are any different than their European counterparts.
I give them credit for actually taking a stand, which is what nearly everyone on ZH has been wanting to see.
"probably because they are almost wholly ineffective?"
Maybe they are as it pertains to short-term real "change", but extremely effective in raising public awareness... That, something IS wrong and its OK to acknowledge it, moment.
The war protests brought no end to our wars. We've since expanded our "empire"... But they did showcase the just how unpopular our foreign policy had become, and helped highlight the use of our military as a corporate tool. The pre-emptive war strategy has certainly become less patriotic.
If the right direction is away from the status quo, then this is where we are headed. And as far as "walking away from debt en masse", that too was just a little snowball on top of a hill...
When there is a big move in a currency, there is often an arb play that takes paper gold down briefly in a headfake. You can look at paper gold in Euros going down and know that isn't going to last long. And when the arb loses strength, there is going to be a vicious rally to new highs.
Nobody's long this weekend. People rootin for something of a mass destruction to profit.
Kinda undecided what to go long now, whether USD or JPY... I'll prolly split between both.
Bernanke speaks Tuesday. http://www.bloomberg.com/markets/economic-calendar/
Time for some suggestive remarks on QE?
time to wipe the bankster jizz off his chin.
Dunno how long those eurozone bitchez can continue their fucking pointless meetings before greece turns into a hell of a mess, with people shooting in the streets and politicians being crucified on some traffic light... Then you'll see how world's stock markets would look like! Oh, and one more thing to The Bernank : look into my ass, there's a monkey.
Don't sell us just yet at the river. Hell, we can outtalk like the next guy! There is still plenty to discuss and many useless things to be said. Food is also good and wine especially excellent.
We all know the system is fubar, a dead horse full of maggots but the aim is to bore the markets with these endless talks, agreements, memos, powerpoints, points of future points. So that those rude market sharks simply go away and start messing up some other kid on the block, like USA for example.
Maybe first UK as an excellent appetizer, those roudy Brits sure as hell deserve that with their crappy food with tortured fried fish and of course there is that bad teeth hygiene.
Just make sure kids don't watch the Bloomberg channel next week :) They might get a bit traumatized, like "Mommy, why is there REDRUM sign flashing on the wall. And why I see all those dead people here".
There is always also SpongeBob as last resort if the going gets too tough for you. The kids love it too!
spunked yer load too soon. futures are up and you know why?
These ECB bankers are really smart, they didn't even need to move the exchange rate down to make the Euro lose 10% of value. This should give the industries in the Euro area some push