• Monetary Metals
    05/02/2016 - 01:28
    The price of gold shot up this week, and silver moved proportionally. Headlines are screaming for gold to hit $10,000 or $50,000. Does this alleged new bull market have legs?

Gold Over $1808 - May Be Poised for `Parabolic' Rise; People in West Not Prepared for Possible Currency Crisis

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Thu, 08/18/2011 - 08:12 | 1572005 Snidley Whipsnae
Snidley Whipsnae's picture

We don't want no freakin parabolic rise!

Slow but steady is the way to permanent high level...

Thu, 08/18/2011 - 08:17 | 1572025 Pladizow
Pladizow's picture

From '70' to '80' when gold did 2,400%, some of the junior miners did tens of thousands of % - penies to hundreds of $'s/sahre.

This is where fortunes will be made again.

Thu, 08/18/2011 - 08:25 | 1572051 bigdumbnugly
bigdumbnugly's picture

we don't need no par -a - bola....

we don't need no price con - trol...

and i hope so pladdy.  but these miners ('specially silver) have been getting shorted to hell.  waitin' for the dogs to be let out.

Thu, 08/18/2011 - 09:25 | 1572348 hunglow
hunglow's picture

I thought Pladdy Boy did let the puppies out.

We buy Au/Ag.   Idiots welcome.

Thu, 08/18/2011 - 08:30 | 1572069 eri
eri's picture

No, fortunes will not be made again on miners.

Nobody trusts paper anymore.

It's all about physical now.


Thu, 08/18/2011 - 08:44 | 1572113 Shocker
Shocker's picture

Exactly, you need to have something else to protect your wealth in todays crazy times




Thu, 08/18/2011 - 08:43 | 1572116 youngman
youngman's picture

The Venezuelan miners just got the shaft.....and I see this happening all over the world...countries will take controll of the miners...at least in the third world countries

Thu, 08/18/2011 - 08:50 | 1572142 Pladizow
Pladizow's picture

Meaning those that are left in politically stable countries will be worth that much more.

Thu, 08/18/2011 - 09:02 | 1572200 youngman
youngman's picture

True...but we do not allow mining here...to enviro bad bad bad...

Thu, 08/18/2011 - 09:26 | 1572359 trav7777
trav7777's picture

we already pretty much mined out this country.

Thu, 08/18/2011 - 09:28 | 1572373 Flakmeister
Flakmeister's picture

Don't confuse them with details Trav... much easier to blame the tree huggers...

Thu, 08/18/2011 - 10:07 | 1572652 Frog-And-Toad
Frog-And-Toad's picture

Spoken at a whisper "Who is John Galt?"

Thu, 08/18/2011 - 10:09 | 1572674 Flakmeister
Flakmeister's picture

A figment of the collective imaginations of the Randians...

Thu, 08/18/2011 - 13:41 | 1573776 faustian bargain
faustian bargain's picture

Oh, is that why businesses are leaving California? I thought they were just all sick of the sunny beaches and long growing seasons.

Thu, 08/18/2011 - 13:56 | 1573830 Flakmeister
Flakmeister's picture

Yeh, they headed to Texas where the budget situation is comparable....

Thu, 08/18/2011 - 08:33 | 1572082 Thomas
Thomas's picture

One can't help but wonder what the strong buying season will bring. I, BTW, totally concur with the notion that gold is by no means over owned. I, like many of you, am now the resident go-to guy on all things financial in my little peasant hamlet having been the town crier for over a dozen years (despite the bouts of scorn). The questions I get are, at some level, emblematic of what the populace is waking up to. People know about gold but I see no evidence whatsoever that they own any. What I can see, however, is growing anger. Get long guillotines. 

Thu, 08/18/2011 - 09:03 | 1572206 Snidley Whipsnae
Snidley Whipsnae's picture

I see the same thing happening...

But I do see a bubble in the 'awareness of PMs'... Which I take to mean that some are becoming aware of PMs but either cannot or will not make purchases. Hey, maybe they are waiting for confirmation? :)

I have one friend who recently bought some gold for the first time... and in spite of what I suggested he bought numismatic gold coins that are way over priced, imo.

This is the same guy that I advised to purchase gold at ~$350...

Thu, 08/18/2011 - 09:30 | 1572391 trav7777
trav7777's picture

people know how much gold is worth because they are dumping all that jewelry and getting plasma TVs they couldn't otherwise afford or a nice downpayment on a shiny new car.  Or maybe it's the "best christmas ever" for the family as they parted with more of their wealth than ever in exchange for pricey consumer merchandise.

Gold has been steadily climbing, having some mini crashes which are good because they firm the conviction of the wallflowers that they were smart to dump the jewelry and smart not to buy into this bubble.  If there is a stampede off the sidelines, gold will double or triple from here in short order.  There simply aren't enough paper instruments to handle the volume of dollar slosh

Thu, 08/18/2011 - 08:37 | 1572095 Oh regional Indian
Oh regional Indian's picture

Agree Pladizow. In the great mining boom in California, Levi's and Shovel sellers made most of the money. And such is how it's always been. It's the tool sellers that make the fortunes. Look no further than the world of software.



Thu, 08/18/2011 - 08:22 | 1572043 LongBalls
LongBalls's picture

The enviornment is about to take gold out of the reach of most people in the west. Next up...... silver. When gold goes over $2,000 oz. the cat will be out of the bag. People will be thrusting too and fro. Silver is becoming the best value at this point. The sheeple will awake. and when they do hold onto your shorts boys!!!

Thu, 08/18/2011 - 08:29 | 1572067 baby_BLYTHE
baby_BLYTHE's picture

Backing up the truck on some silver bars myself

Thu, 08/18/2011 - 08:27 | 1572061 CH1
CH1's picture

"Parabolic" and "falling demand" are two sides of the same coin. Establishment types need to define this as something unsustainable - hence their choice of such words.

If Joe Average ever realizes that gold and silver are the only money that endures, they are out of business.

Thu, 08/18/2011 - 08:38 | 1572101 Bicycle Repairman
Bicycle Repairman's picture

Joe Average gets paid in FRNs and pays his taxes with FRNs.  He will have to take a ride with FRNs wherever they go.  This isn't about Joe Average except when Joe gets something to barter.

Thu, 08/18/2011 - 08:33 | 1572078 Bicycle Repairman
Bicycle Repairman's picture

Yes.  A parabolic rise would garner all kinds of unwanted attention from the usual suspects.  A steady 10% per year for 20 years should do it.  Surely the FED can manage that?

Thu, 08/18/2011 - 10:16 | 1572742 passwordis
passwordis's picture

A 10% return would'nt even cover your inflation loses.  Real inflation over 8% according to the people who make it thier business to  combate offical Government propganda. Poised to double over the next two years.

Thu, 08/18/2011 - 13:56 | 1573829 Bicycle Repairman
Bicycle Repairman's picture

Yes.  As aprt of FED "management" the inflation rate would have to be tamed.

Thu, 08/18/2011 - 08:45 | 1572125 Mike2756
Mike2756's picture

It already is, it's about 3X it's monthly 200ma, about the same as oil when it pulled back. Silver went 5X but, you have to figure in the g/s ratio. 

Thu, 08/18/2011 - 09:34 | 1572418 Hulk
Hulk's picture

"Slow but steady is the way to permanent high level..."  Not in the case of major, structural, worldwide crisis. For the life of me, I don't understand why people don't get this by now...

Thu, 08/18/2011 - 08:13 | 1572010 Cash_is_Trash
Cash_is_Trash's picture

Don't. Go. Exponential.

Have. Most. Of. Working. Life. Ahead. Bitchez.

Thu, 08/18/2011 - 10:21 | 1572787 DonutBoy
DonutBoy's picture

It's inevitable - it's the way markets work.  You'll see it double in a couple of months or similar.  If you are using any leverage you have to take your best guess and move some of your savings ouf of gold, and standby for the pullback.  If it's all physical you can not worry about it and enjoy your life.

Thu, 08/18/2011 - 08:15 | 1572016 BeerGoggles
BeerGoggles's picture

This is just another Buy the dip moment. All fib levels holding.

Thu, 08/18/2011 - 08:17 | 1572021 snowball777
snowball777's picture

Crack open another tallboy, Cramer.

Thu, 08/18/2011 - 08:15 | 1572017 KnightsofNee
KnightsofNee's picture

205, 206, 207, 208, 209, 210 ounces, mmbawahhahahahahahahah, 211, 212, what? Who's that. Go away. I'm busy. 213, 214, 215 ounces, mmbawahahahahahahaha! Shhh! Did you hear that?

Thu, 08/18/2011 - 09:08 | 1572249 Dr. Richard Head
Dr. Richard Head's picture

I close the blinds around my house whilst counting me ounces. Don't want any of those paper bugs to know about me stash.

Thu, 08/18/2011 - 08:16 | 1572018 Sofa King
Sofa King's picture

"With all the focus on the nominal price of gold, the value of gold is still not understood by the majority in the western world today.  It will be soon."

It's not understood because we here in the west have a hard time with religion.


Tue, 10/04/2011 - 09:25 | 1736702 DosZap
DosZap's picture

It's not understood because we here in the west have a hard time with religion.

It has noting to do with religion,( if you think it does explain) and all to do w/being te Reserve currency of the world for 60+ years,WE,in the west have never known REAL serious  currency debasement,change of currency, or had to concern ourseves with a new government, and Constitution,and Dictators ever.

That's why we are called SHEEPLE,if you never had to worry about wolves eating the flock, you do not fear them,out turn is coming,very soon.



Thu, 08/18/2011 - 08:16 | 1572020 Snidley Whipsnae
Snidley Whipsnae's picture

Bring on some margin hikes to calm gold down... and blow out the specs...

25% per yr is more than enough... beyond that lie dragons

Thu, 08/18/2011 - 08:24 | 1572044 DrunkHarryReid
DrunkHarryReid's picture

I'll bet some of those short the Dec 12 5000 Call are not sleeping as easy as they had hoped.

Here is to hoping JPM tries to offer Chavez SI since they don't have enough GC in storage.

Silver Bitchez!

Thu, 08/18/2011 - 08:28 | 1572065 Snidley Whipsnae
Snidley Whipsnae's picture

If everyone continues to accumulate PMs in a slow but steady fashion we will blow up the paper games, the fucking bankers, and the damed Fed...

Then we can get on with restoration of a real currency and financial system...

Thu, 08/18/2011 - 12:10 | 1573400 DosZap
DosZap's picture

Snidely Whipsnae, @8:28

I am really getting ILL on all this DRAMA, about GOLD GOING PARBOLIC, GOLD GOING APESHIT.....................

Look at Pla, and Silver, and Plat....................they have done at least as well, and a couple better.

Fear Mongeing bitcheszz,,,,,,,,,,,,,,,,,

This has been a ORDERLY run up IMHO, esp considering the state of our union, and the rest of  planet earth.

To be honest if the market had been FREE to run, it would /should already be at $5,000.

Thu, 08/18/2011 - 08:17 | 1572022 deezy
deezy's picture

unleash the beast

Thu, 08/18/2011 - 08:17 | 1572024 The Swedish Chef
The Swedish Chef's picture

You can´t eat barbarous relics. Only buy what you can eat: paper, debt and hopium.

Thu, 08/18/2011 - 08:18 | 1572028 Sathington Willougby
Sathington Willougby's picture

If you don't know why gold could go parabolic, have a smoke.  You just got fucked.

Thu, 08/18/2011 - 08:18 | 1572029 fiftybagger
fiftybagger's picture

Don't worry, they'll just crater stocks to stop it.  And when that stops working, oh snap.....

Silver For The People


Thu, 08/18/2011 - 08:26 | 1572052 LongBalls
LongBalls's picture

Stocks are cratering. And where are the people going? Gold. Gold is now the world reserve currency and safe haven asset.

Thu, 08/18/2011 - 08:19 | 1572031 antidisestablis...
antidisestablishmentarianismishness's picture

Gotta love it when the main reason to own an asset class is that it hasn't gone parabolic yet.

Thu, 08/18/2011 - 08:22 | 1572042 Quintus
Quintus's picture

I don't recall anyone ever suggesting that that's the main reason to own gold.  There are many reasons to own it, but that's not one that I've ever heard.

Thu, 08/18/2011 - 08:20 | 1572032 DosZap
DosZap's picture

They did not print it but y/oy , India's purchases are UP 161% to date. And, they are just entering their traditional Holiday season.

This time IT really is different, and anyone who says Gold is in a mania, and is due for a Blow Off...................is either an idiot, has none, or is a drone for the establishment.(that has a PILE,and act like they do not).

Soro's never really was serious when he said a year or so ago it was in a bubble...............he was simple posturing ,hoping his blathering would cause a drop, so he could buy more.

Thu, 08/18/2011 - 08:38 | 1572099 fiftybagger
fiftybagger's picture

If you go back and listen carefully, Soros did not say gold was in a bubble.  What he said was "gold is the last bubble" subtlely implying that it has barely begun yet.

Thu, 08/18/2011 - 08:51 | 1572102 Pladizow
Pladizow's picture

Soro's stated it would be the "Ultimate" bubble, ultimate being synonimos with "Last".

He didnt neccisarily say it is currently in a bubble but that some day it inevitably will be.

And he could well be correct - after the curriencies and soverign debt collapse.

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