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Gold $1771

Tyler Durden's picture




 

Having retraced almost 61.8% of the September drop, Gold's recent run up - as the USD strengthens no less (from 10/28) - suggests some demand for safety is back (or more simply is the demand for German Gold making the German's hoard a little more?). Silver is actually outperforming from Friday's close but remains below Friday's highs for now.

 

UPDATE: USD vs Gold tonight!!

Chart: Bloomberg

 

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Sun, 11/06/2011 - 23:18 | 1851896 goldencross10
goldencross10's picture

Rumors of more printers being turned on?

 

Sun, 11/06/2011 - 23:27 | 1851912 qqqqtrader
qqqqtrader's picture

 

 

if so,

gold going up

spooz going down

http://www.scribd.com/AndysTechnicals

Mon, 11/07/2011 - 00:20 | 1852026 strannick
strannick's picture

Gold seems to now go up no matter what the scenario.

Gold has become risk on and goes up with stocks and commodities.

Gold has also become risk off, as it goes up with Treasuries as a 'safe haven' currency.

Though relying on Treasuries as a safe haven is like relying on an ejection seat in a helicopter. "YOUR BOUND TO GET A HAIRCUT HA HA HA..."

Mon, 11/07/2011 - 07:42 | 1852372 GetZeeGold
GetZeeGold's picture

 

 

Gold......suddenly the biggest no-brainer in history.

 

In other news.......Italy won't accept a bailout.......come again?

Mon, 11/07/2011 - 00:31 | 1852047 The Big Ching-aso
The Big Ching-aso's picture

Vices, addictions, and safe haven predilictions........

An ounce of .999 Fine Gold is still way more expensive that an ounce of .999 Fine Pot.   Not that Fine Pot is cheap by any means when you consider an oz can buy a decent flat screen which lasts for years vs an oz of Pot which, cough, doesn't.     

Then comes Pot which is edible so it's quite utilitarian outside of its main role which is to alter states of mind.     And it's still highly illegal in most places to own, smoke, eat, shit, or cultivate.  You would think that would make Fine Pot worth at least an oz of Fine Gold.   Just in compensation for the danger alone of getting caught in certain places and sent up the river for 5 to 10.

Then comes Gold which you can't eat, you can't smoke, and you can't get high on.   So that spiel about if you can't eat, smoke, drink, or screw it, then forget it, is FOS.

Conclusion:   Gold acts like one helluva drug to a lot of people or a lot of people must be hallucinating on Pot thinking it's worth something.

Mon, 11/07/2011 - 00:41 | 1852062 topcallingtroll
topcallingtroll's picture

If you cant eat, smoke, drink, screw it or snort it.

Corrected that for ya.

Yeah the pot gold ratio needs to be watched.

I agree gold appears overbought compared to pot and I think it has topped for the year, but I dont see much of a downside either.

Mon, 11/07/2011 - 00:47 | 1852067 The Big Ching-aso
The Big Ching-aso's picture

Thanks.  Forgot about snorting.     These days probably should include mainlining too.

Mon, 11/07/2011 - 01:07 | 1852088 topcallingtroll
topcallingtroll's picture

Probably drive it and surf the internet with it too.

We have then covered all our basic instincts. Drive it, fuck it, snort it, eat it, drink it, or surf it, or smoke it.

I think we now discovered what motivates people to go to work. We get green pieces of paper we can use to satisfy our basic instincts.

Mon, 11/07/2011 - 04:42 | 1852284 Transformer
Transformer's picture
I don't know what you guys are smoking, but an ounce of .999 fine pot is worth a lot more than an ounce of gold.  Wholesale on the pot is running 3200-4500 an ounce, depending on where you live in the country.  Retail, which is the price you would compare gold to is even higher.

In fact I can't remember when the last time that gold was worth more than pot.

You guys must be really stoned.

Mon, 11/07/2011 - 08:38 | 1852477 Flakmeister
Flakmeister's picture

Ummm.... me thinks you are talking about lbs....

I'm not as think as you stoned I am...

Mon, 11/07/2011 - 08:52 | 1852506 tocointhephrase
tocointhephrase's picture

Skunk weed is currently trading at £10 per Gram=£311 per troy oz. Gold is a cheap as you like and silver...well need I say more!

Mon, 11/07/2011 - 10:32 | 1852848 sullymandias
sullymandias's picture

Transformer, you're the one that's stoned. $3200 for an ounce of pot?? Even for a troy ounce, that's just an outrageous price quote.

Mon, 11/07/2011 - 01:13 | 1852102 UnpatrioticHoarder
UnpatrioticHoarder's picture

If one were to inject gold particles, would they conveniently accumulate in one part of the body where they could be later surgically retrieved? I'm thinking it could be an excellent way to safely vault gold, gram by gram, once gold hits $100,000 an ounce or so.

Mon, 11/07/2011 - 03:21 | 1852242 The Big Ching-aso
The Big Ching-aso's picture

Well, I opt that it accumulates in the penis.   That way the term, 'she's a real gold digger',  gives even non-goldbugs pause for thoughtful consideration of the useless traditional relic. 

Mon, 11/07/2011 - 03:36 | 1852252 knukles
knukles's picture

Can eat it, too.  :)

Mon, 11/07/2011 - 02:04 | 1852174 AbeFroman
AbeFroman's picture

-  "Git some (gold), Git some (silver). Haha."

-  "How do you get gold and silver?"

-  "Easy! You just don't lead 'em so much. Ain't war (savers vs. speculators) hell?"

Mon, 11/07/2011 - 00:54 | 1852076 fasTTcar
fasTTcar's picture

The difference is that you can grow pot.

 

Can't grow (or print) gold.

 

Mon, 11/07/2011 - 00:58 | 1852083 The Big Ching-aso
The Big Ching-aso's picture

Yeah, but if you get caught.....in some places you also get shot - right after trial.

Well, you can mine it though.

Mon, 11/07/2011 - 01:39 | 1852138 lincolnsteffens
lincolnsteffens's picture

Actually printing metals in specific shapes on demand is a new emerging technology. The only thing is, you need gold particles to print gold objects. That's it! I've got it. A new currency with 100% fine gold printed on/in the paper currency to equal the denomination indicated on the Treasury note. Am I fucking smart or what??!! Official $1,000 note will have a tenth oz. bonded throughout the rag paper. Official US Treasury currency pegged at one oz. = $10,000. Eliminate the Fed and print our own gold currency. Anything over $1,000 would be coinage. Denominations of $1 to $20 would be silver certificates made with silver in it. That would foil the current legal and illegal counterfeiters. (Foil, OMG I just made a pun.) That would also make it harder for smugglers to get money in or out of the country as metal detectors would find it.

I'm so impressed with myself especially since it is a little after midnight.  That should qualify me to be Sec. of the Treasury in the Ron Paul administration. You guys spread it around and see that I get the job.

Thanks,

LincolnSteffens

Mon, 11/07/2011 - 03:22 | 1852243 The Big Ching-aso
The Big Ching-aso's picture

I think you have a real bright future somewhere.   It might be in Mad Max' Thunderdome but hey I see big things comin' for ya.

Mon, 11/07/2011 - 01:05 | 1852087 chump666
chump666's picture

Obvioulsy you haven't tried Goldschlager?  Got a bottle haven't opened yet.  But will once the end of the world kicks in, I will mix it with a quality tequila.

You can high off gold, very high.

 

Mon, 11/07/2011 - 02:35 | 1852203 philipat
philipat's picture

Is there a Pot ETF yet? I guess it couldn't be backed by the physical;-)

Mon, 11/07/2011 - 05:40 | 1852312 Tompooz
Tompooz's picture

SmM-   Smoke &Mirrors

Mon, 11/07/2011 - 08:56 | 1852519 GeezerGeek
GeezerGeek's picture

For more information on the ETF visit the website POT.US

Mon, 11/07/2011 - 10:07 | 1852789 oddjob
oddjob's picture

Is there a Pot ETF yet?

Fucking Tenet has the symbol already. Shit.

Mon, 11/07/2011 - 09:39 | 1852685 Ganja Jane
Ganja Jane's picture

Pass the dutchie on the left-hand side.

Mon, 11/07/2011 - 00:56 | 1852082 trampstamp
trampstamp's picture

I don't know guys... gold price hit a major 6.18 retracement and there is some divergence. Others see it? Be careful out there

Sun, 11/06/2011 - 23:29 | 1851920 medicalstudent
medicalstudent's picture

sounds like a buy the rumor buy the news situation.

Sun, 11/06/2011 - 23:39 | 1851946 I think I need ...
I think I need to buy a gun's picture

BULLISH!!!!

Sun, 11/06/2011 - 23:40 | 1851949 redpill
redpill's picture

At some point people are going to freak to the degree that they just buy gold because they don't know what else to do.

Sun, 11/06/2011 - 23:51 | 1851975 Janice
Janice's picture

Been there, done that, got a Zero Hedge t-shirt.

Sun, 11/06/2011 - 23:37 | 1851939 paarsons
paarsons's picture

There might not be enough printers in the world to tame deflation.

All these banks are sitting on giant bags of shit.

But what do I know?

http://fucklloydblankfein.blogspot.com

 

Mon, 11/07/2011 - 01:07 | 1852092 James T. Kirk
James T. Kirk's picture

Money is digital. The sum total of personal smart phones used by the Federal Reserve board of governers probably have enough collective computing power to create hyperinflation. Deflationists are deluded. Creating the money is not the limiting factor. The kink in the hose will be getting someone to "borrow" and spend the created money. Enter team Pelosi, Frank, and the Messiah (or whoever is in power when the supply chain starts going south).

Mon, 11/07/2011 - 04:21 | 1852274 akak
akak's picture

"Dammit Jim, I'm a Princeton professor, not a Ron Paul!"

Sun, 11/06/2011 - 23:19 | 1851897 yabyum
yabyum's picture

Whats not to like? You take fiat and buy Junk US silver ( not the crap gleeenie beck pushes). Become friends down at the coin shop. Great folks.

Sun, 11/06/2011 - 23:20 | 1851898 Pants McPants
Pants McPants's picture

If I were on Facebook I would "like" this.

Thumbs up.

Sun, 11/06/2011 - 23:20 | 1851899 Western
Western's picture

The only thing this guarantees is a deflationary beatdown on Au, Ag, and oil IMO

Sun, 11/06/2011 - 23:47 | 1851966 fnord88
fnord88's picture

Yep. Gold will drop by 20%, whilst everything else drops by 80%.

Mon, 11/07/2011 - 00:16 | 1852019 Flakmeister
Flakmeister's picture

So cash is the best thing to hold???  You do realize that you are saying just that.

Mon, 11/07/2011 - 00:26 | 1852041 fnord88
fnord88's picture

Yeah I know, it was a bit tongue in cheek, as in, gold may fall, but only if everything else falls further.

That said, I still have 25% in cash. Nobody can say with any certainty which way the markets will go, because fundamentals are irrelevant. If they print, hold gold. If they don't, hold cash. If you are not a fool, hedge.

Mon, 11/07/2011 - 00:31 | 1852048 Flakmeister
Flakmeister's picture

The trick will be when to commit that 25%...... Yes, having some cash is prudent hedging at this time.

Mon, 11/07/2011 - 00:32 | 1852049 Motley Fool
Motley Fool's picture

I'm a fool.

Zerohedge.

Sun, 11/06/2011 - 23:22 | 1851902 navy62802
navy62802's picture

Ain't seen nothin yet.

Sun, 11/06/2011 - 23:24 | 1851906 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

I think we are set up for a run back to $1900, and then another move higher.  I think the consolidation stage is over. 

$1900/pause/$2200/Consolidate back to $2000, by Dec 21st.

Sun, 11/06/2011 - 23:27 | 1851914 navy62802
navy62802's picture

Once Europe folds, all bets are off.

Sun, 11/06/2011 - 23:28 | 1851917 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Once Europe folds, the game is over.

Sun, 11/06/2011 - 23:30 | 1851921 navy62802
navy62802's picture

You never know though. What happens if some of those nations liquidate their soverign holdings?

Sun, 11/06/2011 - 23:43 | 1851926 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Their gold?

Because I bet Europe has their gold leveraged up.

Mon, 11/07/2011 - 00:52 | 1852072 Temporalist
Temporalist's picture

I don't think any of them will be satisfied not posessing the physical.  When the sovereigns start asking for their gold back, like Chavez, which they'd be wise to do (just this year Greece's gold was sought as collateral and they rejected the notion - and then their bank bought more gold instead), the system will unravel from the pressure. 

 

Maybe the Black Swan will be that people everywhere will start asking these banksters where the gold is and who has what...if it is the people's after all not the central bank's.

Mon, 11/07/2011 - 00:36 | 1852051 TGR
TGR's picture

I doubt it - Euro central banks had only sold 1.1 tons between them up to the end of Sept this year, and they are limited to collectively sell 400 tons/year.

Also, some may have learned from Gordon Browne's 'acumen' in announcing any impending sale beforehand to ensure  the lowest possible market prices. So in the unlikely event they do liquidate, they'd be stupid to announce it beforehand (thus ensuring lower prices) - the flipside being if it is announced afterwards, the sale then instantly becomes a buy e.g. another sovereign or entity just bought x amount of tons of gold, which is bullish.

Mon, 11/07/2011 - 01:08 | 1852094 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Central Banks don't sell gold anymore, they lease it.

Mon, 11/07/2011 - 11:40 | 1853145 Ganja Jane
Ganja Jane's picture

I don't *understand* this at all! To me, it seems completely insane.

Mon, 11/07/2011 - 00:19 | 1852027 Freddie
Freddie's picture

I think you will see a deal in greece this week - not like it really matters.   The EU/ECB/IMF/whatever is holding back the $8 billion in a "bailout" payment until the Greeks decide.

Pensions and govt payrools will not get paid this week.  This shit is just like the USA Obama bailouts.  TARP was for union cops, teachers, union city and state govt workers and union thugs at GM and Chrysler plus the govt union work scum and fannie and freddie.

Greece will take the deal because if they go back to the drachma and leave the EU/Euro then nobody will pay the govt workers doing non-work.  

Mon, 11/07/2011 - 00:18 | 1852024 Goldman Hufs
Goldman Hufs's picture

This price increase is and will be driven by lower margins.  If I am not mistaken, the MF Global customers were able to transfer their positions to other firms but are still having trouble accessing their cash.  I see the margin change as an attempt to accomodate those customers so that they do not have to close out positions that would have been covered by the missing cash in order to prevent a waterfall sellof.  

I agree that gold will go higher but I'd prepare myself for margin hikes when/if the cash is "located" and returned to its rightful owners.  I think this will be sorted out within the next two weeks even if the money has to be "found" at a TBTF bank.  Once everyone is made whole the margin hikes will commence and there will be a selloff in PMs.  I disagree that it will go straight up through December.

Sun, 11/06/2011 - 23:22 | 1851903 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Gold, bitchez.

Sun, 11/06/2011 - 23:26 | 1851909 CashCowEquity
CashCowEquity's picture

$1900 gold by Dec 2

Sun, 11/06/2011 - 23:38 | 1851943 TheSilverJournal
TheSilverJournal's picture

$1900 gold by Friday.

Sun, 11/06/2011 - 23:26 | 1851910 Bazooka
Bazooka's picture

Tyler:
Your innovative association of this and that exogenous event for any and every particular inflexion of gold price is astounding.....and yet wrong.

Gold and Silver prices are nothing more than another pair of equities. ES goes up. Gold and Silver go up. Vic a versa.

Tell me, if Gold was a true haven, why has it not exceeded $2k when DOW has fallen 20% from May to Oct?

Safe Have my ass,

Sun, 11/06/2011 - 23:31 | 1851923 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

What happened to your theory in August?  Kind of put a bullet in it, didin't it?

Sun, 11/06/2011 - 23:33 | 1851930 ForWhomTheTollBuilds
ForWhomTheTollBuilds's picture

"Safe Haven" is another term dreampt up by the same media who can't understand how a lump of inedible metal with limited industrial uses could have value.

 

Safe havens exist nowhere and never have. 

 

Gold holders will indeed be some of the biggest nominal winners in whats to come.  Too bad the rules will change making it impossible to experience those gains legally. 

 

 

 

 

Sun, 11/06/2011 - 23:38 | 1851944 Big Slick
Big Slick's picture

A, U... Gimmee all your gold.

Sun, 11/06/2011 - 23:50 | 1851973 fnord88
fnord88's picture

Ron P-Au-l 2012 ;)

Mon, 11/07/2011 - 00:29 | 1852044 fnord88
fnord88's picture

Did you all like my little joke? Personally, I thought it was gold.

 

AHAAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAA

I crack myself up.

Mon, 11/07/2011 - 09:09 | 1852559 GeezerGeek
GeezerGeek's picture

Does anyone know where I can get some 1 oz. gold-colored tungsten rounds? Seems to me that the goons that come to confiscate your gold won't know the difference. As long as the color seems right and the weight seems right...

It would be similar to all those gold-plated coins I see offered for sale to entice the uninformed.

Sun, 11/06/2011 - 23:34 | 1851933 LynRobison
LynRobison's picture

Put your faith in paper assets if you like, but a paper dollar is nothing more than an empty promise to pay. Paper currencies always lose their value at the whim of politicians. I am all in physical PMs. 

Sun, 11/06/2011 - 23:45 | 1851959 ForWhomTheTollBuilds
ForWhomTheTollBuilds's picture

Myself, I prefer to be "heavily in" so as to avoid dealing with my committment issues.  I have tried to structure my ownership in such a way that when the big rule changes come, I protect pieces of it from confiscation, taxation, looters etc.  It seems to me there will be no way to avoid committing felonies on a daily basis if I really expect to just "walk away with the money" after a big gold revaluation event.  The elites just don't allow people who play by any set of rules to get ahead.  If you want to be like them you have to see yourself as somehow "above" everyone else.

 

I think it will be "windfall profit taxes on people who just so totally don't deserve to profit because they got lucky when everyone else was suffering"

 

Personally, I think I'll get more satisfaction out of "being right" than actually being rewarded for it financially. This will be most fortunate.

Mon, 11/07/2011 - 01:24 | 1852120 passwordis
passwordis's picture

The information flow today is entirely different than it was in 1933.  We don't need to wait for the newspaper to read news that is already 24-48 hours old.  

When credible people, in positions to know, start making noise... you should have plenty of time to trade your gold for silver.. or land.. or whatever else you choose.

 

 

Sun, 11/06/2011 - 23:49 | 1851971 Freddie
Freddie's picture

Who the hell junked you?  This place lately has plenty of union Democreep Huff Po mole scum who love the Kenyan Muslim.

Sun, 11/06/2011 - 23:53 | 1851979 fnord88
fnord88's picture

I didn't junk him, just you.

Sun, 11/06/2011 - 23:42 | 1851957 holdbuysell
holdbuysell's picture

Seems you're not too knowledgeable about the eastern (Asian) societies.

Learn the cultures over there and you'll realize that gold has never dwindled in importance as a store of value for thousands of years.

It's ingrained from generation to generation, starting at birth.

Good luck with your 'Gold is another equity' schpeel. You'll get laughed out of every asian country.

Sheesh.

Mon, 11/07/2011 - 01:31 | 1852129 Temporalist
Temporalist's picture

Agreed.

The Asian market's demand, and particularly China's market entry only recently for its people, the countries with the largest populations, that have emerging economies and are creditors, is only going to grow. 

 

Sun, 11/06/2011 - 23:27 | 1851913 tmosley
tmosley's picture

Just more schizophrenia.  The "final" run up won't be reflected in the price of paper gold, certainly not in the West.

Sun, 11/06/2011 - 23:28 | 1851918 Burnbright
Burnbright's picture

Well thats what cutting margin requirements across the board by CME does right?

Sun, 11/06/2011 - 23:32 | 1851928 tmosley
tmosley's picture

Most likely.

Mon, 11/07/2011 - 01:11 | 1852098 topcallingtroll
topcallingtroll's picture

Some of your fan club have taken the day off I see.

Sun, 11/06/2011 - 23:29 | 1851919 chump666
chump666's picture

This is not an inflation hedge trade, this is a pure FEAR trade like in Sept 2011 when it hit 1900.  Something very brutal is up, I am thinking Italy + China = meltdown overkill off.  HFT's have been gaming the market all Asian session. 

Bad vibes.

Sun, 11/06/2011 - 23:34 | 1851932 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Gold does well in "deflation".  Example, August.

Gold is a safe haven now.

Sun, 11/06/2011 - 23:31 | 1851922 Oswald Spengler
Oswald Spengler's picture

The fiats are in their death throes so no surprise here. The surprise comes later when PMs are outlawed, confiscated, melted down and replaced by ration stamps. Don't like it? Tell the gestapo.

Sun, 11/06/2011 - 23:53 | 1851980 Dane Bramage
Dane Bramage's picture

http://www.youtube.com/watch?v=R6Mj1Us13Yk

 

But, in reality (& assuming you're referring to the uSA), any confiscation scheme would yield extremely limited compliance (<1%), just like last time. 

Sun, 11/06/2011 - 23:31 | 1851924 Yen Cross
Yen Cross's picture

 Just more bond buy backs.    U.S. Treasury buy backs.  Not monetary expansion.

Sun, 11/06/2011 - 23:33 | 1851931 Subprime JD
Subprime JD's picture

You can't put gold in your car, therefore, it is worthless

Sun, 11/06/2011 - 23:35 | 1851937 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

But oil producers will trade oil for gold.  De facto, you can put it in your car.

Sun, 11/06/2011 - 23:42 | 1851954 Subprime JD
Subprime JD's picture

Warren Buffet called gold a "barbaric relic" and since he's worth billions surely he knows what he's talking about. Thus, you all should sell my your gold for .10 on the dollar :)

Sun, 11/06/2011 - 23:45 | 1851962 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

You have an impressive resiliance in your fighting.

Sun, 11/06/2011 - 23:52 | 1851976 Freddie
Freddie's picture

Either he is abeing sarcastic or he is a scum sucking lawyer who voted for the muslim.

Sun, 11/06/2011 - 23:54 | 1851981 Subprime JD
Subprime JD's picture

Fuck Obama, Ron Paul or BUST!!!

Mon, 11/07/2011 - 00:14 | 1852018 reefermadness
reefermadness's picture

RP will bust the economy if he got his way, fortunately there are enough sane people to stop that from happening. 

Mon, 11/07/2011 - 00:25 | 1852040 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

The economy was busted long ago.

Mon, 11/07/2011 - 00:58 | 1852085 topcallingtroll
topcallingtroll's picture

Please forgive reefermadness, Ron Paul.

He knows not what he does.

Lead him to truth and rightousness.

Amen.

Mon, 11/07/2011 - 00:37 | 1852056 Freddie
Freddie's picture

Bust the economy?  LOL!  You are kidding right?  Obama's unemployment rate is about 16%.  Ron Paul would be light years better.  Is Huffington Post sending all their libtard idiots over here like the homeless heading to Zucotti Park?

Mon, 11/07/2011 - 00:08 | 1852007 Goldman Hufs
Goldman Hufs's picture

Freddie, this is your second failed attempt to turn a gold thread into a political debate.  Better luck next time.

*Spoiler alert:  Both sides are equally corrupt.

Mon, 11/07/2011 - 00:34 | 1852038 Freddie
Freddie's picture

Who is running the printing presses and looting the treasury to "bail out" union govt workers because the big union states are broke? 

It is totally related.  The Repubs suck but the Dems and Obama are evil.   Bush is an open borders elite Dem lite but if he did half the shit the islamic did he would have been impeached in his first year.   

My guess is you voted the muslim ticket in 2008.

Mon, 11/07/2011 - 00:37 | 1852057 Goldman Hufs
Goldman Hufs's picture

The unelected officials of the Federal Reserve Bank have been running the printing presses for almost a hundred years.  Has something changed in the past five minutes that I missed?

Mon, 11/07/2011 - 00:21 | 1852034 devo
devo's picture

Of course Warren Buffet said that; he wants you to buy stock in his companies.

Mon, 11/07/2011 - 00:30 | 1852045 Subprime JD
Subprime JD's picture

Buffet is a crony capitalist douche. But for the multi trillion bailout his banks would have crumbled

Mon, 11/07/2011 - 00:56 | 1852080 Goldman Hufs
Goldman Hufs's picture

Couldn't agree more.  Whenever I see somebody reading one of his books I like to lean over and say, "You do realize that no matter how many times you read that your father will never be a US Senator."

Mon, 11/07/2011 - 07:07 | 1852355 JOYFUL
JOYFUL's picture

Sorry, that workaround got nixed too, when Gaddafi got the hook.  For now, it's still all F -iat, or your tires go F- lat...real quick.

However, in the forthcoming general anarchy, early adopters of wood, coal, or alcohol powered systems will be one step ahead for drive by hits on still existing retail outlets.  

Fascist police enforcers will be reduced to tasering from bicycles.

Mon, 11/07/2011 - 00:09 | 1852009 Uber Vandal
Uber Vandal's picture

Shares of PCLN, NFLX, GRPN, Pets.com, World Com, Circuit City, Borders, and many others would provide good kindling to run a Stanley Steamer, or my avatar of a steam locomotive.

And gold does fit nicely in the trunk or glove box.

Come to think of it, Wiemar Republic Reich-marks, Zimbabwe notes, Netherlands Guilders after they were called, Continental dollars, and many other paper units of exchange (except for the collector value now), would also work just as good for kindling.

Mon, 11/07/2011 - 00:21 | 1852033 homersimpson
homersimpson's picture

You're pretty dumb if you can't put gold in your car.

Mon, 11/07/2011 - 01:20 | 1852112 dwayne elizando
dwayne elizando's picture

Most cars do have platinum or palladium in them though. The punjabis at the local gas station will trade you some gasoline for gold or silver right now!

Mon, 11/07/2011 - 07:12 | 1852358 thadoctrizin
thadoctrizin's picture

My stash fits nicely under the seat.

Sun, 11/06/2011 - 23:34 | 1851934 midgetrannyporn
midgetrannyporn's picture

Goldschlager bitchez!

Sun, 11/06/2011 - 23:46 | 1851965 holdbuysell
holdbuysell's picture

Haven't checked prices in a while. Has Goldschlager gone up in prices?

Or are they 'debasing' it?

Sun, 11/06/2011 - 23:52 | 1851978 midgetrannyporn
midgetrannyporn's picture

debased, from wiki:

Goldschläger was reformulated to contain less gold due to some alleged accounts of individuals suffering allergic reactions...

Sun, 11/06/2011 - 23:37 | 1851940 AmazingLarry
AmazingLarry's picture

WTF? Is Gartman on CNBS right now?

GLL calls. Get to it pronto, kids.

 

 

 

Sun, 11/06/2011 - 23:45 | 1851963 ZeroPower
ZeroPower's picture

Gold looks good, watch out for a silver trap to take out the next round of bulls... you know, the "silver to $1000" type.

Sun, 11/06/2011 - 23:48 | 1851969 PulauHantu29
PulauHantu29's picture

The Debt Deflation Death Downward spiral is what my brother calls it.

Unless the CBs start printing...I mean PRINTING, we will head into one Hell of a depression I'm afraid. Luckily, gas prices are tame..but if they start rising.....all bets are off.

Mon, 11/07/2011 - 01:46 | 1852148 T1000
T1000's picture

If we're in a deflation spiral of death, why are gas prices inflating?

Sun, 11/06/2011 - 23:52 | 1851977 Darth Silver
Darth Silver's picture

the below article:

http://www.zerohedge.com/contributed/hit-big-withdrawals-fed-sells-assets-borrows-cash

coupled with this seems connected.  fed seems like they are doing money printing but say they are not.  sounds very washington like to me. 

somethings smells very bad, and my guess is it is about to get very bad.  belly up to the phyzz bar folks and get Au and Ag while you can.

Sun, 11/06/2011 - 23:56 | 1851985 monopoly
monopoly's picture

A few glitters here, a little glitter there. Moving up in a well defined pattern and chart. Not too fast, no parabola. Just in line with the idiocy of these goverments and what they are doing. 

Gold will divorce itself from the markets and the dollar at some point. I think we here in America are just a small part of this equation. Many sheeples think this is going to be OK and we are recovering. Very few pull down the blinders to see what is really out there. But in Europe, they are getting it. They know where the Euro is going long term and each country must protect itself. 

Are you going to do it with Turbo Timmaayys worthless dollars, or do you want something that has No Master. Long way to go. Pumps and dumps, you bet, but this is so far from over I do not even have a clue how it ends. I just know.....It Will End.

PS

If gold holds into our markets what is really nice, most of the Trolls and naysayers will move on to those "intelligent sites". :)

Mon, 11/07/2011 - 00:51 | 1852071 topcallingtroll
topcallingtroll's picture

I aint going nowhere.

And I still think we saw the top in gold for the year.

I'm calling it.

Mon, 11/07/2011 - 00:08 | 1852008 ViewfromUnderth...
ViewfromUndertheBridge's picture

at some stage those MF Global accounts are going to trade...

http://www.rjobrien.com/mfglobal/

Mon, 11/07/2011 - 00:24 | 1852037 Quadlet
Quadlet's picture

Ouch

Mon, 11/07/2011 - 00:11 | 1852010 reefermadness
reefermadness's picture

Gold over 2K by EOM. 

Mon, 11/07/2011 - 00:17 | 1852023 Yen Cross
Yen Cross's picture

 Based on my charts ! XAG retraces . I don't need " hate letters".   1350 off that 16 something number makes sense. 

 

  I always tell the truth.

Mon, 11/07/2011 - 00:19 | 1852030 vast-dom
vast-dom's picture

Eurozone Collapse, ILLEGAL Fed printing, negative fundamentals.........ya think? Gold up? Really?

Mon, 11/07/2011 - 00:28 | 1852042 bill1102inf
bill1102inf's picture

Pop before the drop

Mon, 11/07/2011 - 00:33 | 1852050 SHEEPFUKKER
SHEEPFUKKER's picture

Debtflation

Mon, 11/07/2011 - 00:55 | 1852079 Yen Cross
Yen Cross's picture

Yen knows a " Sheep F...ER when he see's one :(

Mon, 11/07/2011 - 00:34 | 1852052 Newager23
Newager23's picture

Gold and silver are currently a risk trade and are following the S&P and DOW. The de-coupling event has not yet happened. When this event happens, gold and silver will become a risk-off trade and a safe haven.

What is happening in Europe is an omen for a de-coupling event. What will cause it is soverign debt defaults (and bond losses). The global bond market is around $50 trillion. That is a huge market, and if only 5 percent of that money tries to move into gold, it will be a huge de-coupling event. 

I'm waiting for it, and I think it will happen. When? My guess is sometime in the next 24 months. In the meantime, look for gold to selloff with the S&P.

www.goldsilverdata.com

 

 

Mon, 11/07/2011 - 00:39 | 1852060 SHEEPFUKKER
SHEEPFUKKER's picture

AU and AG were surging in August when the S&P was selling off.  It was only when the terrorists at the CME stepped up that they both tanked.  I think the correlations are somewhat irrelevant as long as the markets are un-free. But I do think that your prognosis for the future will be correct when the sheeple realize that won't be many options left.

Mon, 11/07/2011 - 01:19 | 1852107 Nage42
Nage42's picture

The timing nature would be a factor for a broker/trader who had to answer performance numbers on a monthly basis.  For anyone with an "income" (i use the term loosely cause we have no idea what the fiats will be worth in time) and next to little hard assets, that person should not be trying to time the market.

Anyone who has any concept of history and believes in even the slightest concept of fundamentals and/or cause-and-effect should have already had a single digit percent of total savings in Gold before 2008.  Ramp that up to low double digits through 2008-9.  Approaching high teens when QEs where shown to not work, and early twenties as sovereigns start to throw sh1t at each other.

As we see governments starting to lurch around with reckless policy decisions over the weekend that have the ability to destroy peoples' livelihoods and futures, that total savings number could arguably be north of 33%.

As for myself, I have no house, kids, car, nada~, so I'm north of 50% now.

You prolly do want to hold back some cash to give your accumulation a little boost if there is a wild dip gyration.

I guess my touchstones are:

cash can go to zero, gold cannot.  The chances of a total fiat/society breakdown is NOT zero.  Throughout history the only things that survived reset events were:  gold, weapons, land-holdings (hard to hold during the calamity without weapons and followers), and prostitutes.  As for myself, I'm not too keen on being a prostitute... I'm picky about who I sleep with.

So, the only real question is... to what degree are you gold hedged?  You are not a student of history/logic if you say zero, and again, you are not being logical if you say 100% also, that's not allowing for the [slim] chance of some unforeseen positive "black swan".

Good luck all, it seems like the flashes on the horizon can be heard much clearer as thunder than the distant rumblings of a few years ago.

 

edit: darn spelingz!

Mon, 11/07/2011 - 00:36 | 1852055 chump666
chump666's picture

Gld is trading in a nice range, sitting ontop of the 5day EMA.  it's a good trend.  There is a 1800 top there

looks like Euro Zone is-about-to-implode trade is on:

-- The euro pares earlier gains as worries over Greece and Italy come to the fore
-- Focus is on whether Italian bond yield will keep rising
-- Traders are skeptical Japan's intervention after October 31

Mon, 11/07/2011 - 00:37 | 1852058 chump666
chump666's picture

tight.

Mon, 11/07/2011 - 00:54 | 1852075 jomama
jomama's picture

/yawn

 

still no correlation between supply and demand.  

 

wake me up when that happens.   zzZZzzzZzZZZzzz

Mon, 11/07/2011 - 00:54 | 1852077 alagon
alagon's picture

Nixon decided to abandon the gold standard and replace it with oil standard.

Mon, 11/07/2011 - 00:55 | 1852078 topcallingtroll
topcallingtroll's picture

Gold has topped for the year or I aint no top calling troll.

Mon, 11/07/2011 - 00:59 | 1852086 Marigold
Marigold's picture

Gold $10,000 .. Money needs to be a valued commodity not fiat paper.

Mon, 11/07/2011 - 01:12 | 1852101 Conax
Conax's picture

I always worried about the 'windfall' tax they could slap on PMs, but I worry less in regards to silver.

Were they to do this, the people would have less incentive to bring in their scrap, hurting the stocks they rely on for a percentage (10-15% ?) of industrial and investment demand. Prices would rise to compensate, and they wouldn't be a party to that.

I'd be more worried about a "nationalization of strategic metals", and those evil hoarders who would not turn it in.. The trick with silver is going to be getting out completely at just the right moment. Two weeks before they make the grab.

Mon, 11/07/2011 - 01:38 | 1852139 fellatio is not...
fellatio is not fattening's picture

Hypothetic question, as friends have asked me and I just don't know.  The Gubment sends a notice that "ALL GOLD MUST BE RETURNED TO THE FEDERAL RESERVE"  Obviously they set up a process where we bring it to any bank and get paid a price (spot -? or Spot + ?) I assume the spot price would rise dramatically?  What would happen to the metal that we did NOT turn in, be it gold or silver?  Any logical thoughts?  Thanks much

Mon, 11/07/2011 - 01:53 | 1852156 bill1102inf
bill1102inf's picture

IF that happened, the gov would set the BUY price at whatever they wanted. Say $1000/oz. THAT is what you would get, MINUS any TAXES after you PROVED your purchase price, otherwise, you will be taxes at whatever % they use on the total amount.  THEN they would set the 'value' at whatever they wanted. Its that simple.  They can set it at $3000 USD and if someone wants to or needs to get out of dollars and wants gold, THAT is what the gov will sell it for. It will be ILLEGAL for the hidden gold to be sold off market.  Sure, you could sell some for less than what the gov is selling for, but you could go to jail too.

Mon, 11/07/2011 - 01:57 | 1852163 bill1102inf
bill1102inf's picture

P.S.

Unlike other illegal things, cocaine, alcohol during prohibition, etc. The 'street' value would become MUCH MUCH MUCH MUCH less than whatever the gov is paying for gold.  Right off the bat, if they are collecting 35% tax, and buying for 1000 and you dont have a real receipt for your purchase you are going to get $750.00 from the fed.  But remember, it does not matter, its waht $750 WILL GET YOU.  If gasoline goes to $7.50 from $3.50 its like getting $300.00 for your precious.

Mon, 11/07/2011 - 02:13 | 1852185 Conax
Conax's picture

One truism is that everything changes, nothing stays the same forever. Therefore, I would bury it for a future without these laws in place. Better come up with my price if you want it, you vampires. I have a shovel.

Mon, 11/07/2011 - 09:10 | 1852561 ParkAveFlasher
ParkAveFlasher's picture

Well if Canada and Mexico do not adopt similar measures, then the law becomes moot.  Ingots could and would be smuggled, and wealth would simply vacate the US of A.

Mon, 11/07/2011 - 04:57 | 1852293 fellatio is not...
fellatio is not fattening's picture

Thanks much

Mon, 11/07/2011 - 01:19 | 1852108 Yen Cross
Yen Cross's picture

  Well , Hell? I'll do a short @ the 1.04 something, with a tight stop!

Mon, 11/07/2011 - 01:25 | 1852121 falun bong
falun bong's picture

Shine on you crazy diamond

Mon, 11/07/2011 - 01:36 | 1852133 Troy Ounce
Troy Ounce's picture

 

 

 

Tyler

If Wall Street owns the US Government, surely it will also "own" the price settings mechanism for gold?

 

Mon, 11/07/2011 - 01:47 | 1852149 SHEEPFUKKER
SHEEPFUKKER's picture

True, but it's a global game now with the U.S. becoming less and less relevant by the day.

Mon, 11/07/2011 - 01:45 | 1852146 plata pura
plata pura's picture

Gold? Verily the gsr will go to 14/1 with the price of gold going up! Verily their is a reason why them hebrewians call both money and the precious kesef. The third industrial revolution be waiting and when spurs be put to it; kick the tires and light the fires; for all kinds of shit go silly. In one of my quatrains it read that 1ozt .999 ag will trade for 1 acre of fertile land. I command thee to trade gold for silver. your main stash should be the 1977-79 1ozt of silver .925 the coin is large with scales and press. !he 1949 version was the first 1ozt round silver coin,

Mon, 11/07/2011 - 01:51 | 1852155 plata pura
plata pura's picture

In conclusion the seuculum and the fourth turning will make this sissified rhubarb appear like a pillow fight at yale............................

Mon, 11/07/2011 - 02:53 | 1852214 caerus
caerus's picture

 

gold?
yellow, glittering, precious gold?
this yellow slave
will knit and break religions, bless th’ accursed,
make the hoar leprosy adored, place thieves,
and give them title, knee and approbation
with senators on the bench...

 

Mon, 11/07/2011 - 06:35 | 1852343 nontaxpayer
nontaxpayer's picture

Gold, the ultimate hedge fund - lifetime wealth option that never expires!

Mon, 11/07/2011 - 08:44 | 1852492 navy62802
navy62802's picture

Hello 1776.

Mon, 11/07/2011 - 09:06 | 1852550 ParkAveFlasher
ParkAveFlasher's picture

The value of gold is in its non-reactivity and luster, oh yeah and the fact that you can bury it for a thousand years at the bottom of the sea and if pure, it retains said properties.  Try that with anything paper, or better yet, the breathed promises of governors, or better yet, with anything else on earth.

That said, the market is choppy (I've heard the term "violent") and if you are trading, God Bless your straight ruler and your nerve.  If you are holding, open up that time capsule in five-six years and throw a party. 

Mon, 11/07/2011 - 11:42 | 1853165 Ganja Jane
Ganja Jane's picture

Gold is off-sale.

I'll continue to take advantage of the silver sale.

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