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Ahhhhhhhhh, love the smell of fear in the morning. First denial....Then acceptance.... Finally ......capitulation. Game on.
And its a Friday as well.
Jeepers....we're still in the denial stage from what I can tell.
And it's only lasted 3 years.
i remember the days (august) when flight to safety meant an increase in gold prices...
now the liquidation story is back.. where were the liquidators then???
the drop in PMs over the past 48 hours has been poorly accounted for...
even leading up to the FOMC meeting, the PM markets were fading that this was going to happen, even though equities "priced in" something more..
glad i have some bullets left, but still disappointed... the ersatz disappointment of a great buying opporunity.. guess i have to scotch tape my nuts back on. lol.
Buy the dip???? What dip??? I see a plunge. Deflationary period setting in amigo. Our biggest chink in the gold/silver plated armour.....as i posted yesterday night, it may be lights out for pms. Nobody wants to print. They will sacrifice the weak for the precious fiat!!!!!
They will print, they have no other option now.
Kito is right. So was Tyler when he called the gold price risk. In this phase cash is King, and that means either banknotes or Treasuries, nothing else. See http://ftalphaville.ft.com/blog/2011/08/11/650656/when-a-government-bond-becomes-a-giffen-good/
Of course this is just a phase. This is Ruffer's "moment of deflationary fear" and it is only after we have experienced that phase that his "inflation of currency compromise" will make PMs the safe haven.
If you are American perhaps. Paid any attention to the forex markets lately? :P
Short-term perhaps. Physical PMs will carry the day over time. There is nothing surprising going on here. The last two bubbles to burst are the debt bubble and the dollar bubble. The debt bubble has been burst; it's evidence has simply been forestalled by protracted manipulation of monetary policy.
All of the prior bubbles have migrated to the banks' balance sheets as toxicity. The last three years has been a transfer of those toxins to the CBs, who have only the ability to dilute/paper over. So again, asset bubbles beget debt bubble begets fiat bubble. The equation has not changed - there is way more debt than real asset value and the piper will be paid somehow.
I'm heavy physical and cash, so I just wait it out. :D
The volume in gold has been signaling a crash for a while. Anytime volume came in the price tanked vs driving prices up meaning supply was outstripping demand. Once people had a reason to sell there is no demand there to pick it up so expect a collapse. I'll be looking to buy in again when it stabilizes at its new bottom whatever that may be but I sold out yesterday.
It's a little early. You will recognize the dip when silver goes up 2%, then back down a little less than 2% the next day.
(that is, if it continues behaving like before... Then again, you never know these days)
3 month low for lithium exploration-penny stock of the year.
Now that's a fear index.
at the 7 oclock hour there was an interview on Bloomberg TV with Terence Keeley an MD at Blackrock who's at the G20.
If there was any doubt, any doubt at all that the banksters are in charge watch this interview and your blood will run cold (I'll post the link when it is up)
nevertheless everything is fine ... just keep cool!
on unrelated news .... NO MORE SOUP FOR YOU!
It's ALL ON SALE Today!!! Look at AG < 33!!
give it a few more hours ... it will be 28.5
going cheap. it will be 35 by eod
I just wish I had the cash on hand to BTFD.....
Sometimes luck is better than brains.
The Federal Reserve Z1 report shows the problem, you can't expand at an exponential rate forever about 60-80 years and thats it.
And que futures "Up" on bad news...if it gets anyworse we could have a 400 point up day!
Looks like the PM market ( Silver and Gold etc ) become a big ponzi to :-)
Actually it is a big ponzi. long long long blah blah blah. yer right. Long my ***
Silver is not going to stop here - remember 2008, it fell more than 50% from its high.
come on, this is just forced selling so that banks can buy cheap. I suggest you buy with them in the low 30s.
Might want to take off the beer goggles. Silver might bounce a little from the low 30's, but then it will fall again. A lot of people are getting burned and it's probably going to get worse before it gets better.
"Profit-taking" in PMs? Silver is -10% on the day today (and same yesterday), going parabolic to the downside. That stinks of margin calls everywhere and going bidless.
Next up is gold :-) Already can't wait for the big plunge and all those pumpers finnaly STFU.
I feel sorry for the bag holders tho, but that's life. the moment central banks buy you better get out and sell the crap to them. It is as it is. cycles. next 20 year is down.
Hungarianboy - what you said is bollocks. This is just a phase. Damn hard to trade these markets - I sold our gold except for the "enmergency" coins - a while before the blow-pff top and i am now trying to time re-entry but it's very difficult. Those who take the long view should sit tight and ignore the price, just accummulate with regular purchases (and ideally not brag about interim peaks in the price). Sell to the central bankers for paper and walk away for good like you seem to suggest? No. Bollocks to that. Either learn to trade or quietly accummulate. But in the end the paper money is going to zero.
Hungarian Boy is a twit
I troll who will just never quit
When the whole system tanks
From the greed of the banks
I'll use fiat to wipe off my shit
I'm sad I can't give up more green arrows. In this case I'd like to make a exception.
There, you can borrow my green pointy-uppy thing.
The metals are under attack
The system is starting to crack
They need metals low
Should the whole system blow
So that equities might just come back
Haha, another awesome limerick. :)
kudos on that en, your majesty!
Nigel Farage on EUR and Gold :
MP3 interview link at bottom.
Just love Nigel Farage, always a pleasure to hear him or read him...
Full Tilt Ponzi Group can go take a hike in the Alps...
Smelling an intra-day reversal soon, maybe today even of mythic proportions. Careful out there!
Don't underestimate TPTB. Armageddon will not be showing up anytime soon.
Michelle carousa cabaere (I really don't give a fuck if I spell it right) is an idiot with lips and tits.
Michelle is a complete wise-ass, know nothing, idiot, tits yes, lips, not so much.
She always looks to me like she's regretting not taking the diocalm before the show. Nice norgs, though, I agree.
Buying 50% position in Dec Silver @32.70
Looking for 1635 to enter 50% Gold.
1700 is 50% fibo
Better buy the physical. That contract will expire worthless. A return of some capital is better than a return of no capital.
Silver and gold will need to go much lower to clear a couple of trillion of pm derivatives before the world goes strctly physical. We may see silver at 5 bucks and gold at 250 for a few months before a reset. 1's and 0's created never went into economies, except thru bank bonuses, so economies have no way to pay the fake debt. If you can get some physical cheap, do so, as all will go underground till after the reset.
ahhahahah hahahahha ahahhaha aggh.
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