Gold Explodes, Futures Touch $1801

Tyler Durden's picture

The traditional inedible religion of barbarians had been oddly patient for most of the day. No longer: next up $2000.

Update: +$13, 5 minutes alter.

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Mongo's picture

What a great tradition

BaBaBouy's picture

Yes Tyler ...


GoldToTheMoon ...

Libertarians for Prosperity's picture

This summer's gold rally was one of the strongest ever.  For the life of me, I can't understand why Turd F told everyone NOT to buy the rally in June and July.  THAT WAS A HUGE MISS!


redpill's picture

Silver hitching a bit of a ride this morning. Every barbarous relic needs a sidekick.

TruthInSunshine's picture

Thomas (below):

It feels different because it is different.

Governments and central banks have lost credibility, and their inability to maintain whatever was left of confidence through their great cons of the past is the reason it's going to crash very hard at every level.

Here is just one example that I came across in the last 10 minutes, which backs me up here, but I could've just as easily chosen from 100s of articles to support my position that governments and central bankers are grasping for straws, and that process makes them look even less credible (if that's possible):


  • Gov't Considers Turning Foreclosures Into Rentals
  • FEDbuster's picture

    You can't eat it, but the trade tastes pretty good.

    Haywood Jablowme's picture



    Ahmeexnal's picture

    UBS ain't denying that gold IS money:




    Gold, silver, platinum and palladium have fascinated people and captivated their imaginations since time immemorial. Whether as bars or coins, they all have one thing in common: they are a tangible asset against which all other material assets are measured. Their beauty, enduring value and rarity have assured them a place in our culture, and their magical appeal has had a profound impact on our civilization. 

    Just like securities and currencies, precious metals are bought and sold every day at fixed market prices. But in times of economic uncertainty, when share prices plummet and currencies lose their value, precious metals come into their own as a more resilient investment. Even today, the currencies of many countries are backed by precious metals. It stands to reason therefore, that coins and bars made of gold, silver, platinum and palladium are an ideal investment for your private wealth. 



    RockyRacoon's picture

    ...precious metals come into their own as a more resilient investment.

    Gigantic fail -- gold is NOT an investment.   It pays no returns and has no counter party risk.

    Missed the mark didn't they?  Viewing the PMs as an investment is bound to cost the person more than mere money, it will mess with the future stability of any rational person.

    RockyRacoon's picture

    In other words, let's see how we can help bankers even MORE!

    Thomas's picture

    Not in my world, but the point is made. BTW-This feels different than 2008/09. In particular, this divergence of metals with other assets is decidedly different.

    redpill's picture

    Correct.  PMs are now playing the role the USD did in 2008.  USD is no longer the reserve currency.  Gold has retaken the title.

    5000 years of human history > 40 years of pure fiat madness

    Joeman34's picture

    Then why is the 10-Year UST down to 2.15%?

    I did it by Occident's picture

    Actually for the hoi polloi, the currency most used was silver and copper.  Gold was for large transactions and aristocracy.  But point taken in any case. 

    Caviar Emptor's picture

    You got it. It's not even subtle anymore. Gold is acting like the world's money....what a surprise!

    You ain't seen nothing yet

    mayhem_korner's picture

    If it walks like a duck, quacks like a duck...

    Temporalist's picture

    Relic sounds more like Relish.

    Panic rhymes with Manic.

    Hephasteus's picture

    Bananic Republa. Free story about some "other cultures" history and culture with every purchase of a 78 cent chinese child labor produced socks.

    I did it by Occident's picture

    mmm, hot dogs. 

    Time for a BBQ.  Anybody got spare fiat to start the fire?

    tmosley's picture

    Because you don't buy rallies, retard.

    Unless you are a psychic.  Are you a psychic?  Can you foresee all that is to come?  Can you read the minds of central bankers, and ratings agency executives?  If not, perhaps you ought to stop being such a butthurt little bitch and go about your life ELSEWHERE.  You can do no better than Turd.  Indeed, your constant screeching about how silver is a bad investment sort of proves the opposite.  People who follow Turd have made a LOT of fiatscos.  

    Libertarians for Prosperity's picture

    You don't buy rallies?  So we should wait until this $250+ (so far) rally is finished before buying?


    You're so full of bullshit.....  while silver was rallying/exploding to $30, then to $40, and then to $50, you were telling people to "buy with both hands" because the Comex was going to implode, or an industrial panic was imminent, or silver was going to temporarily surpass the price of gold... blah, blah, blah...  You were carelessly telling everyone to "buy the rally," so basically you've just called yourself a retard.  

    Now, just because silver increased in value, doesn't mean you were right.  Silver went up in value, and SO DID EVERYTHING ELSE during QE2.  Cotton went from $80 to $220. Coffee went from $160 to $300.  Palladium went from $450 to $850.  AAPL went from ~$230 to ~$400.  You can pick the most ridiculous stock imaginable, and it went straight up.  Silver went up, but NOT FOR ALL THE NONSENSE YOU WERE POSTING!     

    IDIOT! <napoleon dynamite voice>


    You're so dumb it's barely even fun to mock you anymore.  

    If Turd is giving financial advice to mouth-breathing doomer goons, he needs to be held accountable for telling his readers NOT to buy the summer gold rally.  No doubt about it, that was a massive miss.  But, of course, no one wants to call him out on it because it makes the "Turdites" - like yourself - look like idiots. 


    tip e. canoe's picture

    anyone who makes any decision solely based on the advice and/or analysis of one other person (especially an anonymous one on the interwebs) deserves to get what they deserve.

    time to grow up dude.'s picture

    If Turd is giving financial advice to mouth-breathing doomer goons, he needs to be held accountable for telling his readers NOT to buy the summer gold rally. No doubt about it, that was a massive miss. But, of course, no one wants to call him out on it because it makes the "Turdites" - like yourself - look like idiots.


    It's a good thing that everything you've ever posted on Internet forums has turned out to be 100% correct. Otherwise you'd look like a hypocrite.

    Chump's picture

    Dude is obviously just a trolling dickhole.  Someone who posts asinine shit about someone as generally decent as Turd and then ends with the ever witty *LOL* are not even worth an eye roll.  Clearly he needs something to distract him from the dingy walls in momma's basement, so why give it to him?

    Bay of Pigs's picture

    I believe he is the old RedNeckRetard or Billy the Bastard/GoldenMiddleFinger.

    Just another PM douchebag. Calling gold investers "doomers" says everything you need to know about this clown. 

    fuu's picture

    The language structure is similar to Johny Bravo and his clones.

    Just my opinion though based on who he chooses to attack and the way he does it.

    geminiRX's picture

    People typically lose their ass trading the summer it's was not a miss just a cautionary disclaimer

    Smiddywesson's picture

    Turd F is an expert in gold.  Experts are particularly vulnerable to confirmation bias because they have such a command of the facts that they can form a defendable opinion on anything.  Put that together with normal seasonality and the history of gold price action, which are all out the window under these conditions, and you get a bad call.

    Gold isn't responding to seasonality anymore.  All cycles are wiped out when a financial hurricane comes along.

    Gold also isn't responding the same to normal manipulation games anymore.  The manipulation going on has reached desperate levels and gold demand is stronger. 

    Gold isn't rising due to speculation, it is rising because central banks are buying as much as they can without running the price up on themselves.  It is rising because of fiat destruction.  At this point, all price targets and historical comparisons are pretty much useless. 

    You either believe ALL central banks are buying, at a time when they are desperate for liquidity, out of a sense of tradition or because they know that gold is going to be extremely valuable in the future.  That buying is picking up, and the  depth and duration of their attacks on prices are yielding diminishing returns.  Attempts to buy on the dips are rapidly losing profitability to those who engage in steady buying. 

    It's not Turd F's fault, the game is changing and he is still a great gold analyst.

    Libertarians for Prosperity's picture

    Oh, I see... Turd got gold wrong because he's too much of an expert.  


    That's some powerful Kool-Aid he's serving over there. 

    Whalley World's picture

    Turd made me some good coin on an EGO long call.  When EGO (eldorado gold) broke support at 16, I bought $19 October call, doubled my money, thanks Turd

    Bay of Pigs's picture

    What do you have to offer on PM's? Nothing. All you do is criticize others who are far more successful than you are.

    Weak. Stupid. Ignorant.


    Smiddywesson's picture

    It's a common problem among experts.  I was dead serious.

    Their expertise misleads them when the game completely changes in new and previously unexperienced ways. 

    PaperBugsBurn's picture





    HSBC: The World’s Dirtiest Bank

    (Excerpted from Chapter 2: Big Oil & Their Bankers…)

    In late July, First Niagara Financial Group announced that it would buy 195 retail bank branches in New York and Connecticut from HSBC for around $1 billion. [1]  HSBC acquired the branches when it bought the spooky Marine Midland in 1980.  According to Global Finance, the UK-headquartered HSBC Holdings is the world’s 3rd largest bank with $2.36 trillion in assets. [2]  Formerly known as Hong Kong Shanghai Bank Corporation, HSBC has served as the world’s #1 drug money laundry since its inception as a repository for British Crown opium proceeds accrued during the Chinese Opium Wars.  During the Vietnam War HSBC laundered CIA heroin proceeds. 

    In Saigon the opium junta which Lucien Conein and Ed Lansdale had installed instructed the South Vietnamese military to dole out heroin to Chinese Triad syndicates who moved it to Hong Kong.  The CIA’s Thai Generals used the same Chui Chao Triads as mafia kingpin Santos Trafficante.  The Thais often sent morphine to Hong Kong, which was refined into heroin by the Hong Kong police. [3]

    Deak & Company was the major gold dealer in Hong Kong and its operations were crucial to the CIA guns for heroin trade.  Founded by OSS operative Nicholas Deak, it became the largest currency and gold trader in the US after WWII.  Deak financed CIA adventures in Vietnam, the Mossadegh coup in Iran and the CIA’s assassination of nationalist Prime Minister Patrice Lumumba in the Congo.  Deak used a Swiss subsidiary, Foreign Commerce Bank of Zurich, and its US Deak Perera branch to lure flight capital from wealthy Third World elites, mainly cocaine money from Argentina.  When Deak suddenly went bankrupt in 1985, its Hong Kong depositors were left in the lurch. [4]

    Long before the Vietnam War, the British elite had made a healthy living smuggling opium from the region.  Lord Shelbourne launched the Chinese opium trade in 1783 with Scottish merchants from the East India Company and members of the House of Windsor-allied Knights of St. John Jerusalem.

    Shelbourne’s chief propagandist was Adam Smith who worked for East India, which emerged from the slave-trading Levant Company and later became known as Chatham House, home to the powerful Royal Institute for International Affairs (RIIA).  East India worked with members of two secret societies – the Muslim Assassins and the Christian Knights Templar – in organizing the global drug trade.  In 1776 the high seas pirate Adam Smith wrote Wealth of Nations, which became the bible of international capitalism.

    In the Far East the British organized the Triad Society, also known as the Society of Heaven and Earth, to smuggle their opium.  Beginning in 1788 the Freemason Grand Lodge of England established lodges in China, one of which was the Triad Society.  Another was known as the Order of the Swastika.

    The Triads were so named due to the significance of the pyramid to the global elite.  The apex of a pyramid represents a king’s power to the ancient Freemasons, who promote monarchy as a form of government.  The base of a pyramid represents the masses of workers who are the king’s subjects.  Superimposed with an inverted pyramid representing godly powers, the two pyramids form the Star of David, an ancient symbol used by the Freemason predecessor Knights Templar and now associated with the occult, Zionism and the state of Israel. [5]

    In 1839 William Jardine- a Canton-based opium trafficker- steered Britain into the first Opium War after Chinese officials confiscated his stash. The second Opium War lasted from 1858-1860.  Lord Palmerston commanded both expeditions for the Brits.  He was also the High Priest of Scottish Rite Freemasonry in the British Empire. [6]

    Throughout the 19th century the British families of Matheson, Keswick, Swire, Dent, Inchcape, Baring and Rothschild controlled the Chinese heroin traffic.  The Inchcape’s and Baring’s Peninsular & Orient Steam Navigation Company (PONC) transported the dope around the world.  When a British subject named Mohandas Ghandi spoke out against the opium trade in 1921, he was jailed by India’s British rulers for “undermining the revenue”.

    To the US West Coast, the families brought Chinese coolies to build JP Morgan’s railroads, slave laborers who were kidnapped (shanghaied) by the Triads.  The Triads came along too, setting up opium dens in San Francisco and Vancouver and using a network of Chinatowns as a channel for heroin.  This network exists today.  To the US East Coast the families brought African slaves and cotton.  These same families built plantations and became kings of southern cotton on the backs of shanghaied Africans.

    The Sutherland family, first cousins to the Mathesons, was the most powerful of these cotton families.  The Barings owned the clipper ships, which brought cotton to the Old World, while shipping opium and slaves back to the New World.  The Rothschild and Lehman families both entered the US via the pre-Civil War cotton trade. [7]  The Lehman’s made their fortune smuggling cotton to the Union and guns to the Confederacy.  The southern cotton barons were the channel through which the British fomented the US Civil War.

    The American families Perkins, Astor and Forbes made millions off the opium trade.  The Perkins’ founded Bank of Boston, which is today known as Credit Suisse First Boston.  The Perkins and Morgan families endowed Harvard University.  William Hathaway Forbes was a director at Hong Kong Shanghai Bank shortly after it was founded in 1866.  John Murray Forbes was the US agent for the Barings banking family, which financed most of the early drug trade.  The Forbes family heirs later launched Forbes magazine. Steve Forbes ran for President in 1996.  John Jacob Astor invested his opium proceeds in Manhattan real estate and worked for British intelligence.  The Astor family home in London sits opposite Chatham House.

    The British-organized Shanghai Green Gangs cooperated with Chiang Kai-Shek, whose KMT Army came into being from a merger of several other Triad secret societies modeled after Scottish Freemasonry.  The Masons trace their history back to the construction of the Tower of Babel.  King Henry VIII opened Freemasonry to people other than builders who became known as Speculative Masons.  Scottish Rite Freemasonry has thirty-two degrees of initiation, followed by a 33rd degree, which represents the human head atop the thirty-two vertebrae of the human back. [8] 33rd degree Masons are said to be Illuminated.  A British Crown-backed coalition of Chui Chao Green Gangs and KMT massacred trade unionists and socialists in Shanghai in 1927, putting into action the Masonic credo Ordo ab Chao (order out of chaos).

    J. H. Keswick was a prominent figure in the British-run Shanghai International Settlements where his brother Sir William Johnston Keswick was chairman from the 1930’s until the 1949 Chinese Revolution. Following the revolution Chiang Kai-Shek landed in Taiwan and his KMT Army fled to Burma.  Keswick and his Shanghai Green Gangs moved their heroin refineries into Hong Kong, which the British seized from Chinese revolutionaries.

    Cantonese heroin trafficker William Jardine followed suit, combining forces with fellow Anglo-Scot hongs, the Keswicks and William Sutherland Matheson, to form Jardine Matheson.  The families launched the Hong Kong Shanghai Bank Corporation (HSBC) after the second Opium War as a repository for their opium proceeds.  HSBC, a subsidiary of the London-based HSBC Holdings, today prints 75% of Hong Kong’s currency, while the British Cecil Rhodes-founded Standard Chartered Bank prints the rest.  HSBC’s Hong Kong headquarters sits next to a massive Masonic Temple.

    Freemasonry is a highly secretive society, making it an ideal vehicle for global drugs and arms trafficking.  According to 33rd Degree Mason Manly Hall, “Freemasonry is a fraternity within a fraternity – an outer organization concealing an inner brotherhood of the elect…the one visible and the other invisible.  The visible society is a splendid camaraderie of ‘free and accepted’ men enjoined to devote themselves to ethical, educational, fraternal, patriotic and humanitarian concerns.  The invisible society is a secret and most august fraternity whose members are dedicated to the service of an arcanum arcandrum (sacred secret).”

    The bankrupt Deak & Company’s role in the Hong Kong gold trade was filled by Sharps Pixley Ward, which holds a monopoly over the Hong Kong gold market.  Sharps is 49%-owned by the Sharps Pixley subsidiary of British merchant bank Kleinwort Benson and 51%-owned by HSBC.  Kleinwort is cozy with the Oppenheimer family’s Rio Tinto, which was founded by the British Matheson family with money generated from opium sales and with help from Schroeder Bank, which also financed Adolph Hitler.

    According to a July 13, 2007 article in the Financial Times, Rio Tinto recently bought Alcan to become the world’s largest aluminum producer. In 2010 they set their sights on BHP Billiton in what would be a merger of the world’s two biggest mining companies.

    Matheson’s heirs through marriage with the Fraser family are the Keswick family who now run Jardine Matheson, a wide-ranging conglomerate of shipping and industrial interests which also happens to own the Hong Kong Jockey Club, a known venue for drug money laundering.  The Swire family controls Hong Kong’s Cathay Pacific Airlines, while the Inchcape family still runs the Peninsular Orient Navigation Company (PONC).  J. H. Keswick, J.K. Swire and Sir Mark Turner all served in Britain’s Ministry of Economic Warfare during WWII and are all members of the RIIA, which was founded by Rio Tinto’s first chairman Lord Alfred Milner.  These families dominate the board of directors at HSBC. [9]  Current Directors include Lord Inchcape and Henry Neville Lindley Keswick.

    The British Bank of the Middle East that dominates the flourishing Dubai gold trade is 100% owned by HSBC.  In 1999 HSBC bought Lebanese financier Edmund Safra’s Republic Bank, another major player in world gold markets.  HSBC had already purchased the CIA-favorite Marine Midland Bank, which is clearing agent for the government of Panama and owns the Samuel Montagu gold trading firm in London.

    The HSBC ruling families have intertwining interests with other international mega-banks, the global gold and diamond trade and the Anglo/Dutch half of the Four Horsemen – Royal Dutch/Shell and BP Amoco.

    Lord Armstrong of Ilminster sits on the boards of Royal Dutch/Shell, N. M. Rothschild & Sons, Rio Tinto Zinc and Inchcape, the holding company that controls PONC.  Shell director Sir Peter Orr joins Lord Armstrong on Inchape‘s board.  Cathay Pacific Airlines owner Sir John Swire is a director at Shell, while Shell director Sir Peter Baxendell joins Lord Armstrong on the board of the Matheson-founded and Oppenheimer-controlled Rio Tinto. [10] Shell also controls BHP Billiton.

    Shanghai Settlements veteran and HSBC insider William Johnston Keswick sits on the board of BP Amoco with PONC’s #2 man Sir Eric Drake, who joins Rio Tinto board member Sir Mark Turner on the board of Kleinwort Benson, which owns 49% of the Sharp’s Pixley Hong Kong gold monopoly.  Turner joins David Keswick on the board of HSBC’s Samuel Montagu, one of five firms who gather daily at N. M. Rothschild & Sons in London to “fix” the price of gold.

    Jardine Matheson’s current chairman David Newbigging sits on the international advisory board at JP Morgan Chase and is arguably Hong Kong’s most powerful man.  The Chairman of Morgan et Cie, the bank’s international division is Lord Cairncatto who also sits on the London Committee of HSBC.  Cairncatto is also chairman of Morgan Grenfell, which in 1989 was purchased by Deutsche Bank.  Cairncatto sits on the Ruling Council at the London-based Royal Institute for International Affairs- the Crown-controlled foreign policy think tank, whose US affiliate is the Council on Foreign Relations.

    Jardine Matheson and PONC also have interlocking directorates and originate from the same Mackay family.  Jardine founder James Sutherland Matheson was the son of Katherine Mackay.  Mackay is the family name of the Earls of Inchcape.  The current Chairman of PONC is Sir Hugh Mackay-Tallack, who is also Deputy Chairman of Standard Chartered Bank.  The 3rd Earl of Inchcape J. W. Mackay is a director at Standard Chartered.  His predecessor, the 2nd Earl of Inchcape, had advocated opium trafficking in a 1923 PONC annual report.

    In 2006, when controversy swirled over the potential sale of US port operations to Dubai firm DP World, virtually no media attention was paid to the current contractor – PONC.  Today the old opium transport firm has split into two parts.  P&O NedLloyd, the shipping arm, was bought by AP Meller-Maersk, the massive Danish shipping firm controlled by the billionaire Maersk family.  P&O, the port operator arm, was bought in 2006 by DP World.  Each arm had controlled part interest in the Port of New York.  In 2007 it was announced that its port operations would be sold to insurance giant AIG. The next year AIG went belly up.

    HSBC has a big presence in Vancouver, which is on the receiving end of most US-bound Southeast Asian heroin.  Canada’s Hudson Bay Company is controlled by P&O NedLloyd and the Keswick family that controls Jardine Matheson.  P&O’s #2 man Sir Eric Drake sits on the board at Hudson Bay, while HSBC and Jardine Matheson director Henry Neville Lindley Keswick sits on the board of Canadian paper giant MacMillan Bloedel, which the British Duke of Devonshire controls.

    Beginning in the early 1990’s HSBC went on a global shopping spree.  In 1994 HSBC formed HongKong Bank Malaysia Berhad.  In 1997 it formed Brazilian subsidiary Banco HSBC Bamarindus S.A. and acquired Argentina’s Roberts S.A. de Inversiones.  In 1999 it bought Malta’s biggest commercial bank. [11]

    In 2000 it has acquired France’s CCF, Turkey’s Demirbank TES and the Egyptian British Bank.  In 2002 it bought Mexico’s Grupo Financiero Bital S.A. de C.V. and Turkey’s Benkar Turketici Finansmani ve Kart Hizmetleri A.S.  It took over Bank of Bermuda and acquired stakes in China’s Ping An Insurance, India’s UTI Bank and China’s Bank of Communications. [12]

    By 2003 HSBC was the world’s second largest bank.  In November 2003 the bank’s Istanbul, Turkey headquarters was destroyed in a suicide bombing.  A separate bombing that same day killed the British consul general.

    In 2005 HSBC bought Household International, a dirty Chicago bank which researcher Sherman Skolnick says was incarnated out of the remnants of Australia’s Nugan Hand Bank. [13]  Household is a subprime mortgage lender and was intimately involved in creating the US property bubble.



    [3] Hot Money and the Politics of Debt. R.T. Naylor. The Linden Press/Simon & Schuster. New York. 1987. p. 199

    [4] Ibid. p. 323

    [5] Rule by Secrecy: The Hidden History That Connects the Trilateral Commission, the Freemasons and the Great Pyramids. Jim Marrs. HarperCollins. New York. 2000

    [6] Dope Inc.: The Book that Drove Kissinger Crazy. The Editors of Executive Intelligence Review. Washington, DC. 1992. p.114

    [7] Ibid. p.125

    [8] Masonry: Conspiracy Against Christianity. A. Ralph Epperson. Publius Press. Tuscon, AZ. 1997.

    [9] The Editors of Executive Intelligence Review. p.193

    [10] Annual Report. Shell Transport & Trading Company, p.l.c. 1991


    [12] Ibid


    Tyler Durden's picture

    Next time just the cliff notes version please

    Vinny's picture

    How are those 2 bears of yours doing lately?

    lynnybee's picture

    Tyler, you are just way tooo coool.    sincerest respect & admiration to you for the best website & education i've ever had.   NOW I KNOW WHAT THE HELL IS GOING ON IN THIS WORLD !!!   thank you, dear Tyler.    you are tooo wonderful for words.    Can I job shadow you sometime ?   

    Thomas's picture

    Job shadow? Sounds dirty.

    lynnybee's picture

    it's not dirty !   job shadowing is where you quietly observe & learn.    it would be so fun to be quiet as a mouse & just follow Tyler Durden (whoever he may be) as he goes about his business of running this website.   ........ quietly observing, taking notes & learning = job shadowing   (maybe i'm just too old for this website ).

    Thomas's picture

    He's probably some skanky guy who never showers. Maybe like Walstreetpro...

    PaperBugsBurn's picture

    Thanks got it!


    You are a true good guy and a treasure to this community!

    Whatta's picture

    cliff notes and a gratuitous picture of a bikini washing a motor cycle.

    Crack-up Boom's picture

    Amen.  I swear gold went up $10 while I read the first few paragraphs!