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Gold Up $41, Hits Record $1761
While the massive drubbing across risk assets has modestly subsided, the global investing herd has finally realized that in the absence of shifting money into bonds (or even in addition to), there is a certain shiny yellow metal that may be just as good a store of value (granted, inedible) that despite a lack of cash flows (and who needs cash flow in a fiat based exchange system which will soon be wiped out anyway), is probably just a good substitue and as of this night is providing 1761 reasons as to why it is becoming increasingly obvious that if anybody listened to Hugh Hendry's presentation from last year in which he suggested people panic, it is the central planners. Should the Fed proceed with announcing QE3 tomorrow in the form of Operation Twist 2, gold will likely resume it vertical ascent to $2,000 which may be breached as soon as Friday. Alternatively, should Bernanke keep mum and disappoint everybody, all bets are off, across every single asset class.
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Its just transitory.
Yeah, we may have been waiting for this, and it's not like we want it, we just prepped for it, but if this is the big "it" showing up that we have been waiting for, we may very much be like those folks standing on the beach watching, as the Tsunami pulls the water out to sea, and then it roils and starts it's big run inland.
So what's up with silver, is it good now to hold both?
Silver appears to be weathering the storm just fine, compared to most things. Don't be greedy.
Bought at 11, 15, 17, 21, and 27. I agree.
...woe, Hang Seng -1232. http://www.youtube.com/watch?v=ssN2_B7351U&feature=relmfu
...wow, they are really freaking out in London too.
Mr. Vestment - oddly your linked tune reminds me of this semi-modern dirge of sorts:
http://www.youtube.com/watch?v=_hMagNuhLkk
the only thing better than Au going up is Ag going down. so great, please hold till friday.
oh go die already.
Yes, it is a great buying opportunity in silver, because this much manipulation of a PM during such a crisis is inevitably going to lead to a compression/spring effect in the price. I see silver bursting out soon.
Ag respond's to Au's downswings and keeps going down even when Ag rises. The Au:Ag ratio actually increased with today's drop in prices. Couldn't ask for better conditions.
1} If it can't be grown...it must be mined.
2} If you ain't growing or mining...you're
making your money off inheritence, one of
roughly 50% on the .gov tit, or servicing
growing & mining.
3} Get thy ass growing or mining. Get off the tit.
4} Bread is $6.50/loaf & gas $4/gal. here.
5} If you can read my "welcome to here" sign; you're
in range. Stay the course...keep physically fit.
6} Aurium will always trumph Argentum...duh,...they
represent units of labor...go figure.
I wonder what the tulip/gold price is. Parabolic phase will run 2k~ is my guess.
price decoupling from Ag is evidence of a pump and dump?
ya know I haven't seen any douche nozzles mention that ya can't eat gold lately. I think they finally had their fill of STFU and realized we might know what we were talking about 'roun here
You cant eat paper either but you can wipe your ass with it.
yes it does seem silver price is well under control and no one really knows if and when the price will be allowed to run free. I will keep on buying physical because your money in a bank account is losing 15-20% if not more in value per year..Year onyear silver will beat that soundly and that validates the decision...
No one will turn down your silver when the currency collapses. It is irrelevant what it is priced at now, the price is priceless.
Buy silver it is on sale. Amazing how many people walk right by a bargain.
GOLD is like the ipod/iphone/ipad for douches with money, instead of credit.
Just trend-following lemmings.
http://www.youtube.com/watch?v=NOKhQ8ObQ7E
Exactly. I am scouring the dealers for bargains in silver. Please push the price down.
long home invasions
I need to start printing up some "NO GOLD ON PREMISES" signs to go with the "BEWARE of Dog" and "NO TRESSPASSING" signs you can pick up at the hardware store. cha ching!
We serve Pb to uninvited guests.
this bad, bad vibes...dax down close to 6%. means US open will fall hard. expecting a relief rally, we don't get in. some bad sh*t is brewing, even despite the fed. not looking good at all
gold just past 1776, the revolution has started...
Exactly.
Trichet ECB has lost his f******* mind, ECB buys more Spanish/Italy sends the Dax down an extra%
total chaos.
*****When in Doubt, Go to War
""It is political suicide for politicians in the west to make the necessary cuts in government expenditures to limit the explosive growth in government debt at the federal, state or local level......""
http://seenoevilspeaknoevilhearnoevil.blogspot.com/2011/02/why-war-is-me...
*****Why A U.S.A. Default Is Very Likely
""Of course, eventually the Treasury could run out of gimmicks, and the possibility of default is non-trivial (PS: This is why we keep saying the US doesn't deserve its AAA status!)......""
http://seenoevilspeaknoevilhearnoevil.blogspot.com/2011/01/must-read-mor...
*****OT: Film Festival Short
The Creek....
http://www.youtube.com/watch?v=BLRAqfN48zo&feature=related
U.S. Mint Gold Coins are now almost at bullion prices.
Silver is becoming a bargin, I purchased some Mexican 100 peso 1977-1979 70% silver coins at melt plus shipping from Provident Metals this weekend.
Now I think I have to double my order.
Disclaimer: I am only a buyer, I have never sold a PM back I have purchased since my first 1997 ASE, and I certainly do not have a connection to the US Mint [I do have a son at West Point, but not the mint part] or Provident other than liking how they do business. No popcorn, just bargains.
Damn, and I was just getting used to $1600.
They're setting up the PA and wheeling in the fat lady.
Holy shit it's blowing off. I sold an ounce at 1645 thinking they would contain there for a couple weeks.
Glad to see you, wondered where you were.
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