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but gold is just tradition; whats the big fuss?
Let's see how many people don't realise he's [sarcastically] quoting Bernanke :)
Let me tell you something.
Gold is good. But it can't cover the price of your soul.
Fuck gold and silver--right in their metallic asses.
What? Living in a hut with pork and beans is your idea of a good time?
Are zee Germans under the impression that they can eat their gold?
Perhaps they should seek councel from Doug Kass or Warren Buffet?
Bring the gold: http://www.youtube.com/watch?feature=player_embedded&v=_qO66Rmi1Mw#!
I'm Bring the Gold and I approve this political message.
That video was the inspiration for this name about 3 years ago :D
I laugh every time I watch it. Leprechaun's love their barbarous relics...and rap.
Seems like the barbarous relic is still coveted, maybe the Germans can give up some of their wonderful forests to create more paper?
It it increadible but France, UK, and USA are treating Germany not much better than Libya.
Some people cling very strongly to their traditions. Gold is the currency of central banks.
It's the looting that gets people in a dizzy.
Looks like PM's are reacting this morning. Gold, Silver and Oil are the gods of the market this morning.
Going to be a shitty day for bonds.
I went to bed and stock futures were way up. I just got up and stock futures are way down. But now they are coming back up.
What will be the catalyst to drive the stock market up?
Gold and silver are up more than 1%. But as with all of the phony stock rallies of the past 3 years the little guy gets to pay for it by way of higher oil prices.
Could somebody let me know what gas is at nowadays? I don't drive and I seldom pass a gas station. I'm just curious what the little guy is paying at the pump to make sure Barry and Benny's stock market rally continues. Thanks.
The price at the pump has not been this low since Feb '11
It is cheaper than milk or pop...lol
You could check gasprice.com. Those guys have stats on oil prices. The government agencies...not sure what they are doing anymore. Don't even bother using them as a fence post for retail energy sales anymore, it simply not in their best interests to provide timely and useful information.
the eia is also the same rocket science division that told us about the huge gains in oil production since 2005 when the case has been quite the opposite. I would trust a hedge fund manager before the civil servants to give me a proper prospectus on the current state of the only commodity on the planet that matters.
Milk on sale around here is under $2/gal., cheap soda is .69 cents for a 2 liter, gas is still over $3.
Live in Canada. The minimum wage might be 10.45 an hour but you certainly don't get much for it.
Bottle of no name soda is $2 bucks. $3 for a 2 litre bottle of the real stuff. Chicken, not breast, legs and thighs is 3.99 a lbs. Breast is around 6 per pound. If you buy a whole cooked chicken with fixings at the grocery store it's a $20 with a little change back.
Milk runs about $5 a gallon, well 4.70 for four 1 litre bags, then with taxes on top it's five.
Depends where you are I suppose. It's 1.28 a litre, which is around $5 a gallon, not including the 15% sales tax in Ontario/Canada/HST, so it's really 5.75 a gallon.
Heating oil is around .03 less than the pumps. To heat a home just with oil, it's around $2500 Canadian (same expressed in parity in USD) for a 1400 sq ft home with forced air and water heating during the winter, $1500 for the rest of the year.
The oil is going up because of inflation. The rallies are the central banks pumping money directly into the markets via JPM/GS and any number of POMO participants in the banking/investment cartels.
Reason I am paying 4 dollars a pound for medium ground beef and three years ago I was paying .89 a pound. When it's on "sale" it's 3 a pound. Which has lead me to just do what i did in the 80's and 90's, buy a cow and split the cost with other people. For $800 (split from $1600) you get a LOT of meat and you get to pick it. Don't even talk to me about fish, anythign you want to eat is $10+ a pound, the bottom feeding harbour fish (which are disgusting Talipa, Blue Gill...yuck) is cheap because it's about the same as eating a sewer rat.
I guess it really does depend on where you live, here regular can be found at $3.69 a gallon, though most are still charging $3.90 and since my car uses high octane I fueled up at $4.14 yesterday. Of course wholesale spot price on NYMEX is just $2.68 so the difference between rack and retail is about the widest it has ever been and that constitutes the largest profits for distributors and retailers they have ever known. Just a few years ago, 2008 in fact, the difference between NYMEX and what I paid at the station was generally in the range of 30-35 cents per gallon, now it is consistantly over a buck.
Compare this to the Houston region, and a few other places, where gas is $3.05, if they are making a profit and staying in business at $3.05 per gallon there why is it almost $4 here? Because this region has some 4 small local distributors who can easily fix prices, and while that is stone cold illegal there is no longer anyone in government interested in law enforcement which could remotely help the 99.
That dollar per gallon markup represents an economy killing gouging event that if the government had ANY design to protect consumers or help with jobs it would put a stop to. But, years of corrosion of our consumer protections (under both parties but especially BushCo and anything to do with oil) has lead to a total grab-it-while-you-can attitude. And it is ongoing proof that unfettered unregulated "free markets" don't work, well, they do work for a few top executives that have a bonus plan based on how much they can rape the nation for.
Beef is getting expensive (they say next year will be worse), but chicken is cheap. How the hell can they sell boneless, skinless chicken breasts for a $1.50/lb.?
Do you live on a poultry farm? Because here Fred Meyer has boneless breasts on SALE for $3.99 a pound this week. They also have Hillshire Farms susages and kielbasa at $3.99 normally $4.28 and now in the new and improved size of 13 ounces rather than that whole pound they were till a few months ago. Before last spring I used to get those two for $5 when they were still a pound and they were on sale about every other week. Just as well, I don't really want to think what they are made of and the fat content, lard, I mean lord. The inflation rate for these is (don't mind the smoke I am doing math in my head) like 112%. Almost as high a rate as hamburger. What really got me in the market yesterday was tortillas, I remember not that long ago when tortilla based food was an end of the month staple because they practically gave them away, under a buck. Now, $3.19 for ten tortillas.
"What will be the catalyst to drive the stock market up?"
Plunge Protection Team
Rumors spread by media of all stripes
Idiots running around with their hair on fire screaming 'the sky is falling'.
The POO is what's scaring me at this point.
If gold is a tradition, what is paper money, Mr. Bernanke?
Dear Charmin, (cough) what is the difference between what you do and what Mr. Madhoff does?
That is what they say - but it is "Do as we say not as we do" with gold. Why are the central banks trying to make gold grabs when they all say it is worthless in reality.
But the Germans don't realize their gold is already gone it is all tungsten sitting at Fort Knox and it has already been given to all the countries and banks in bailouts.
It really would be great if Germany asked for their gold from the Fed. THEN things would get really interesting. So interesting that I would bet war would begin with Germany for some made up reason or another. Just like Libya, Iraq or any country who dares puts gold above the U.S. dollar.
Stop it! Stop!I can't take any more of this gold, that gold, my gold, your gold, yes, no, maybe gold, whose gold, fools gold....
Just give it to me and I'll hold it in a segregated account until ya'll getcher shit unfuzzied.
If you want it off limits, Fritz, you'd better get it out of New York...sticky fingers there...
I wonder if it is all comingled in a Gordian knot of leases.
Does anyone have segregated accounts any more?
Ask MF Global's old customers.
I love when collateral is used for collateral as collateral because the collateral needed to be collateral to back up other collateral.
Yes, MF Global reminds us that counter-party risk is everywhere. Except physical Gold.
That sounds incestuous.
G20 has some balls asking for Germany's gold.
Balls? Meh, they'll give it up like a girl on prom night because of some demented logic that the situation can be fixed. They have to loot the shit out of Italy, Portugal, Spain and Ireland first before going after France and Germany. Meanwhile attempting to seize pensions from people in Greece and Italy.
However as one of the Tyler's has brought up. Only reason the situation is being raised at all is because nobody trusts anyone on that tiny spit of land called europe anymore.
I'm personally waiting for Turkey to eat Greece and Northern Iraq for the fait d'accompli as part of a risk management project with the Chinese.
The ottoman empire didn't die, it was just sleeping for a little while.
Yes, and it takes even bigger balls to ask for this;
Senior Minister and rival to Merkel, Ursula von der Leyen, demandedthat the debtor ‘PIIGS’ countries offer Germany more reliable guaranteesand allow it access to their gold reserves and industrial facilities aspayment for loans.
G20 tacit admission that only hard assets have true value. All other solutions just add more paper bullshit to the already overflowing heap.
60% of the Au is where again?
Like they said: At the center of the world!
Unfortunatly, some morons thought that the center of the world was America...
SO JUST TAKE THAT 5$ SHOVEL AND DIG!!!
Notice how no one asks the US to sell it's gold? Why bother..when HP inkjets are so convenient to order online
I wish they'd say ' no fuckIng way FUCKTARDS'
They SHOULD say "Nuts!".
In a way this is a redux of the Battle of the Bulge. "Hey, Klaus, is that a gold ingot in your pants or are you just happy to see us?"
Smells more like Treaty of Versailles, and we all know how that worked out.
Anybody else here think that the Germans are pushing it a bit too far lately?
They arent pushing hard enough frankly.
They if they allow the status quo to continue, they WILL pay.
Perhaps not through hyperinflation, but recaping the ECB, higher inflation and other transfer payments tend to add up.
Not to mention when it becomes clear only they have the production to pay for anything, their bond yields will reflect it.
Paying for 500% of your GDP in BS transfers so the Greeks can avoid taxes, the French play games with labor laws aint going to fly in Germany.
The Germans are acting as if gold is important. They won't let go of any gold for any reason any more.
I am not a gold bug, but if this isn't a ringing endorsement of gold I don't know what is.
I still hold to my topcall that we have seen the top in gold for the year.
I like your top calls so far...
in dollar terms, you could be right.
too bad i don't care too much anymore about dollar terms.
Gold is going to $1800 today!!!!!
See the London am fix today...$1,764!!!
If that doesn't ring a BIG bell for you brush up on your Jim Sinclair and Jesse Livermore.
Let's see if they can paint an ORD with all the MF Global liquidations this afternoon...it's now or never for them.
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