Gold $1771

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Sun, 11/06/2011 - 23:18 | 1851896 goldencross10
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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
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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
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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
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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
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Can eat it, too.  :)

Mon, 11/07/2011 - 02:04 | 1852174 AbeFroman
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-  "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
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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
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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
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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
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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
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Been there, done that, got a Zero Hedge t-shirt.

Sun, 11/06/2011 - 23:37 | 1851939 paarsons
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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
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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
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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
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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
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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
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Their gold?

Because I bet Europe has their gold leveraged up.

Mon, 11/07/2011 - 00:52 | 1852072 Temporalist
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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.

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