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They'll do whatever they can to prevent that from happening and make sure the longs will be bleeding.
I think we'll have to wait untill january before we see big jumps up. After the options of 2011....
Anyone here believe that Ben is going to stop printing?...
"In the absence of the gold standard, there is no way to protect savings from confiscation by inflation, there is no safe store of value" Alan Greenspan
What else need we know?
Can't be said enough Snidley. Expansion of the money supply in excess of the production of goods and services debases the currency. All commodities will continue to rise.
The enormous cloud of paper hovering over the tiny amount of physical gold is proof enough that gold will continue to rise...
While more paper is printed in huge quantities, a little bit of gold trickles in from mining operations.
Too much paper chasing too little gold = ?
"What else need we know?"
I'd like to know when TPTB are long gold. It could be now.
They're long physical, short paper.
Paper is the cape, physical is the matador. You are the bull; gore that SOB!
I tend to believe they want a controlled increase in PM's. Not skyrocketed, but controlled. They own to much to allow failure.
The clincher could be, as far fetch as it sounds, PM confiscation. Hopefully not, but where is hope and change getting us now? Anything is possible...
The IRS already plans on confiscating 30% through taxes, so a plan is in place. As for outright seizure, they will concentrate on large stacks like those controlled by the oil producing countries. Where's Libya's gold? Is Chavez going to get his gold back?
PM confiscation didn't work in 1933. Gresham's law- good money goes to ground. It won't work now either. Gold and silver are largely untraceable. As for the IRS- you can't tax what you can't find. Gold and silver will be traded- not sold. When governments become too authoritarian, the rule of law fails.
I do not think they would confiscate for monetary purposes. As you alluded to Sean, we are entering into an authoritarian state where we, or the Global sheeple to be more precise, may not be allowed to own PM's, guns etc.
I know, sounds crazy....., but what is sane nowadays? I talked to a fellow engineer the other day and spoke about QE3. The 55 year old "smart" Engineer, did not have a clue that the Fed was monetizing the debt, bailing out banks, and supporting their illuminati masters. This is one example of the majority of clueless sheeple. The "Authoritarian's can do anything at this point, and they know it.
The denial of the facts is what bothers me the most. Very educated people are presented with overwhelming evidence of the fraud being committed by the financial and political establishment. Once they digest the details, they either dismiss it or cherry pick the issues they choose to be upset about. The normalcy bias wins again.
Yes, got to keep them holding paper (they are generously allowed to hold a variety of paper $, Euro, Y, US Treas, Eurobond. But, Gold is a no-no and will be considered a provocation and threat to national security). Bye bye Libya, Egypt, etc.
If they keep ramping the market every day $2500 in the next month is possible.
Don Coxe see's much higher gold prices
Cdad sees blatant front running in the US market for gold this morning...so good luck with that.
The problem I have with gold now is that the TBTF banks are involved...which should make all of you gold guys very, very nervous.
Yeah, I'm scared of a bunch of bankrupt banks. lol
Demand for physical gold from SE Asia, India, the Mid East and parts of Europe is in the process of blowing up the paper gold markets.
Ben is going to continue to print fiat... The 'big banks' will continue to fight a delaying action against gold rising in fiat. But rise it will...
JP Morgan is now your declared ally. Later, when the price of gold falls at this morning's gain rate x2, THEY will call it volatility. And at that time, I suspect you will be calling foul and writing treatises on the manipulated price of gold.
As for Bernanke, he just denied the opportunity to print money...so now you must add wishful thinking to your previously mentioned toxic partnership.
I assure you that a slow, steady rise would have been better for your gold position.
False argument. JPM, GS, MS - they have no allies. They are cuthroat banks out for whatever they can get.
What is more likely is that these "geniuses" who had hitherto only bought and sold derivatives on conceptual ideas wrapped in bullshit, have finally caught up with the global public sentiment on a "barbarous relic", and now they want a piece of it. It will be very hard for the banks to print gold as they do with fiat if everyone demands physical delivery. But of course the danger for fraud is always present when it involves the banks.
But I agree with your premise that a slow steady rise would be much better.
JPM, GS, MS - they have no allies.
JPM, GS, MS - they have no allies.
You don't actually believe this, do you? How about the Fed? Quite an ally, wouldn't you say?
Yes alright, granted. Although I don't really make a distinction between the (private) federal reserve (bank) and the squids, considering the same actors can be found revolving around the same doors in these institutions. They're all alumnis of each other aren't they?
My friend is not the Fed, not JPM or HSBC, but billions of Asians, Indians and Mid Easterners buying physical gold.
I could give a rats ass what JPM/HSBC predict! They are only making predictions to give the appearance that they still are 'all knowing seers' and by extension have some control over the PMs mkts.
Their days of control are numbered and the number is dimishing.
Hmmm, these kind of 'predictions' always remind me of 2008 and $200 oil...
Yep. Those who listened to the gold pumpers and bought into that ramp in 2008 got CREAMED by the BUSINESS END of a STALLION APPENDAGE.
If you think it can't happen again, let me tell you: IT CAN. And probably will.
These gold pumpers should be thrown into ASS-pounding prison along with them folk who refuse to pay to educate their kid, and send them to a public school.
Thank Chango for folks like Prechter, Karl 'Morpheus' Denninger and Daneric who bring much needed sanity to this world. I will laugh like a drain when gold fails to hit 3000 dollars an ounce this year and PROVE KARL correct - AGAIN!
"I'm made as hell and I ain't gonna take it any more!!!!"
The forces driving gold, the fundamentals, have not changed. What would it take to change them, worlwide?
A stronger dollar? Does anyone believe that Ben is going to hike interest rates and strengthen the dollar? Does anyone know what would happen to the US and world economies if Ben hikes interest rates now?
Karl is a day trader cum wannabe economist, keep reading Karl and following his advice and you can spend the remainder of your existence under a bridge.
Ben doesn't control interest rates - the market does.
Interest rates are low because we are in a deflationary depression.
In a deflationary depression, the dollar rises, and Gold, Silver and crAAPLe fall.
Ergo, the price of Gold, Silver and crAAPLe must be falling, even as we speak. Ignore your lying eyes, and follow the Math. Which never lies.
If you are not intelligent enough to understand this bullet-proof logic, you must not visit the Ticker forum, as it requires an IQ in the high double-digits.
"Ben doesn't control interest rates - the market does."
Wake up and smell the roses... Ben IS THE MARKET!
Did you miss QE1,2, and now the enormous T purchases by the Fed? Zero interest rates announcement by Ben for the next 2 years? are you living in a cave?
and yes RTFM, Ben is controlling interest rates... Until this scam blows sky high...
Karl has done a number on your head...
oh, horseshit, Snid.
are you saying Karl Denninger is wrong? WTF? He is a world class expert on markets, computers, nuclear reactors and scuba diving!
You obviously have no understanding of economics or montary theory. The movement in gold prices is consistent with the creation of M2 and credit over the last ten years. Listening to predictions is for the ignorant. If M3 stops and production rises- I sell my gold- it is that simple.
When I turn on the Television and see a show called "Flip that Coin", I will know its time to sell.
Oil and gold are different. Do you know the difference?
It is bit of a bubble, based on demand fervor.
But it is certainly bubbling.
Sorry but bullshit. CMG is a bubble.
Demand fervor? Yes, the demand fervor is coming from the East and it isn't showing any sign of letting up... In fact, it's accelerating...
“Gold, unlike all other commodities, is a currency,” he told attendees at a conference in Washington D.C. on August 23, saying he did not think the precious metal was in a bubble despite recently reaching a new record above $1900. And a flight to safety amid inflation fears is what’s causing soaring gold prices."
"Gold Sales in India May Increase 25% During Festival Season, Jeweler Says"
A coupel of things to note about the Indian demand story. Forst off, yes, marriage season, a festival of lights called Diwali, another festival that is literally about "wealth" accumulation, all of these are big gold buying times.
But the real story in India might be silver. As the precious (Au) gets really expensive, I've seen many first time silver investors at the place I buy (major outlet in bangalore). And they are investors because they are buying bars. A half kg. bar is the standard bullion bar sold here. It's all over the news here. So it might be that traditionally India has driven th egold market, this time I think we'll see it give the silver bull a little smack on the behind.
Both silver and gold are money. Gold is the senior currency. You won't go wrong with either.
The real buyers are not your city buyers buying bars. They are still the poor farmers buying Gold at the end of harvest, buying when a girls child is born, buying for each ceremony....
Any one who listened to your Silver story and sold their Gold and bought silver based on your advice last May 2011, they lost a ton. keep your silver to yourself.
silver is not associated with wealth in India. They are secondary to Gold by a wide margin, maybe it will have a pump and dump next year.
Ramadan coming up Aug 1. Muslim folks will also join. How much do muslim's like silver - Not much, I think..
Where's my correction to $1650 bitchez?
Somewhere over the rainbow, Dorothy.
yellow brick road is such a misleading term....
1650? As the 'Sage of Niceville' so rightly points out, Gold is not worth buying higher than $200!
JP morgan wants to draw a line in the sand, but they will soon realize that that line will be crushed and surpassed way above their wall of worry. I wonder what will happen to the comex, whose blatant manipulation of the commodities market has reigned supreme for a long time? What will happen when the sheep wake up?
What will happen when the sheep realize that they own nothing but paper and/or paper promises and physical is screaming higher and higher? What will happen when all the paper promises can't deliver physical silver? I would be very, very worried if I were one of these scam artists (Jamie Dimon, Blythe Masters, Kitco, SLV, etc, etc, etc.). The day is coming...and...FAST!
http://www.gallup.com/poll/149195/Americans-Choose-Gold-Best-Long-Term-I... < The fallacy in this poll is that it does not ask HOW these Americans HOLD their gold. I will venture to say that the majority hold it in places like GLD, unallocated accounts, etc. No other words: PAPER!
"I will venture to say that the majority hold it in places like GLD, unallocated accounts, etc. No other words: PAPER!"
You are not looking at the big picture and the big picture is that gold prices are being driven higher by physical purchases in the East.
Typical Amerocentric comment. Open your eyes... there is a wide world out there and the US is not the dynamo driving PM prices.
The US/London still are hanging onto control of gold prices through the LBMA/Comex paper manipulations, but how much longer can that last if soverigns demand their gold in storage be delivered to their home countries? Hugo went first... who next? How long till a fail to deliver? How much gold will central banks give up to bail their bullion banks that cannot deliver physical?
It's the paper pushers that are worried, not those holding physical.
The topic was AMERICANS and gold. Are you capable of READING and COMPREHENDING? I am well aware of where strong PHYSICAL DEMAND is emanating. Everything I posted was TRASHING paper and TOUTING physical. R_E_A_D !!!!!
"The topic was AMERICANS and gold."
I am not concerned with the small amount of physical PMs being purchased by the West... The action is in the East!
Why are you so anxious to have the conversation limited to the West?
Scared that readers might find out what is happening in the East?
Hey, there is no, or very little, censorship here. I vote that the site remain free of censorship... If you want a limited conversation; ie, censorship, there are millions of shill controled sites that offer that option.
I was commenting on the POLL...Do you understand that it is NOT a poll that I conducted...Censorship and all the rest of your ramblings?...Are you on friggin' DRUGS?
"if sovereigns demand their gold in storage be delivered to their home countries? Hugo went first... who next? How long till a fail to deliver?"
This may pose a problem, but I expect that gold will not be delivered to "terrorist states". In the meantime large stacks of gold that is stored outside of the "system" will be vacuumed up.
"terrorist state" You make me sick... This failing empire will rue the day it declared for emperialism. You enjoy getting patted down before getting on a commercial flight?
The Patriot Act... probably your bible, eh?
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