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Gold Resumes Surge As NEW QE Rumor Is Back

Tyler Durden's picture





 

We guessed it wouldn't be too long before the next rumor was dropped and Gold is surging - now over $1670 - on this latest chatter... Don't tell Gartman, but gold is now of 5% higher in math terms from the minute the "world renowned" gold swing trader sold everything 7 days ago.

 

Chart: Bloomberg

Incidentally, for all those lamenting the alleged endless manipulation by this bank or that, here is the math: one could have bought much more gold at the manipulated lower price of $1610 from a week ago, than today. Always pays, literally, to keep things in perspective.

 


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Thu, 04/12/2012 - 10:01 | Link to Comment tocointhephrase
tocointhephrase's picture

Muwhahaha

Thu, 04/12/2012 - 10:03 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Muwhahaha

Thu, 04/12/2012 - 10:15 | Link to Comment LowProfile
LowProfile's picture

Don't laugh quite yet.

They will pull out all the stops to get control of the POG.  They HAVE to...  Otherwise, it's game over.

This is going to take awhile.

Thu, 04/12/2012 - 10:27 | Link to Comment tekhneek
tekhneek's picture

Agreed.

I'm waiting for sub-30s, regardless if I'm right or not I think we have one major dip let in this then it could be off to the races. If I'm wrong, I still buy a little on a dollar cost average basis but right now I'm sitting more liquid than I have holding out for another run up, then a massive sell off (like has happened.. what.. 6-10...15 times now?)

Time will tell.

Thu, 04/12/2012 - 10:29 | Link to Comment SilverTree
SilverTree's picture

If I had a silver eagle for every QE rumor....oh, wait I do.

Thu, 04/12/2012 - 10:36 | Link to Comment Deo vindice
Deo vindice's picture

If gold is 'surging', then what about silver? In the same time frame it has gone up 3 times (by percentage) that gold has.

Silver is the "Ron Paul" of the PM's. Ignored by all the newsmakers.

Thu, 04/12/2012 - 10:49 | Link to Comment tekhneek
tekhneek's picture

$2 of silver for every $1 of gold, bitchez.

Thu, 04/12/2012 - 17:52 | Link to Comment akak
akak's picture

But only $5 to dig from the ground .... bitchez!

Thu, 04/12/2012 - 10:36 | Link to Comment bernorange
bernorange's picture

I love the smell of tradition in the morning.

Thu, 04/12/2012 - 10:41 | Link to Comment HoofHearted
HoofHearted's picture

Gartman? Isn't he hated by all of Chicago for dropping the ball and making sure the Cubs' fielder couldn't catch it.

Oh, Gartman...isn't he hated by everyone for dropping the ball on gold and making it easier (giving cover) for people to manipulate the price of gold?

Thu, 04/12/2012 - 11:15 | Link to Comment ShankyS
ShankyS's picture

Gartman - Note to self - NEVER SELL GOLD. 

Thu, 04/12/2012 - 12:22 | Link to Comment dynomutt
dynomutt's picture

No, that was Bartman.

 

QE-bunga dude!

Thu, 04/12/2012 - 10:29 | Link to Comment AUD
AUD's picture

I think we have one major dip let in this then it could be off to the races.

If I had a gold coin for every time someone has written this in the couple of years I've been reading ZH....

Thu, 04/12/2012 - 10:32 | Link to Comment SilverTree
SilverTree's picture

Synergistic!

Thu, 04/12/2012 - 10:55 | Link to Comment tekhneek
tekhneek's picture

Yeah. It's pretty cliche. Either way, "off to the races" could just mean higher than $31.50 to me... not $100,000.00 an ounce.

Thu, 04/12/2012 - 11:07 | Link to Comment Smiddywesson
Smiddywesson's picture

Agreed.  After all the hijinks in gold, I'm convinced I can't predict anything more than it will keep on marching as they destroy the currency, AND, it will jump around like a dog in fire ants trying to dislodge anyone stupid enough to watch the price too closely.

Thu, 04/12/2012 - 11:33 | Link to Comment SilverTree
SilverTree's picture

 

Mike Maloney breaks down Price Manipulation in the Gold and Silver Market

 

 

http://rt.com/programs/capital-account/maloney-manipulation-gold-silver/

Thu, 04/12/2012 - 10:52 | Link to Comment dow2000
dow2000's picture

Agreed, leak a QE rumor heading into the weekend. Get all those PM bugs to go long and then we hammer them on Sunday night with paper. We sap up their dry powder with QE rumors, and then we hammer it down to the low 20's and cover our shorts. Maybe even coordinated margin hike for an amplied effect?!?!  I see another sub 30 / 1600 dip before they truly pull out the trillion dollar price tags.  In two years we'll be talking about quadrillion dollar packages, be patient people, we're not there yet.

Thu, 04/12/2012 - 14:05 | Link to Comment lemonobrien
lemonobrien's picture

options expire next week.

Thu, 04/12/2012 - 11:40 | Link to Comment SheepDog-One
SheepDog-One's picture

QE rumor...WHAT QE rumor, who released that, a CNBC anchor?....LOL yea right I give this about 4 hours until its denied again. Entire world markets just running on BS rumors...pathetic.

Thu, 04/12/2012 - 16:46 | Link to Comment BarberKen19
BarberKen19's picture

my neighbor's mom makes $82 hourly on the computer. She has been out of a job for ten months but last month her pay check was $14998 just working on the computer for a few hours. Read more on this web site and click Home .....  WWW.LAZYCASH.COM

Thu, 04/12/2012 - 17:58 | Link to Comment akak
akak's picture

My neighbor screwed your skank of a mom, and it took him $8200 and ten months to get rid of the clap and all the crabs.

Read more on this web site: www.kill-online-spammers-for-fun-and-profit.com

Thu, 04/12/2012 - 10:35 | Link to Comment Stoploss
Stoploss's picture

Muwhahaha

Thu, 04/12/2012 - 10:24 | Link to Comment jekyll island
jekyll island's picture

We need some more Karma.  Someone call up Gartman and tell him to short gold, that should do the trick.  

Thu, 04/12/2012 - 10:01 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Gold is not a risk trade.  It is the safe play.

Thu, 04/12/2012 - 10:07 | Link to Comment resurger
resurger's picture

Gold is the future Sir.

Thu, 04/12/2012 - 10:27 | Link to Comment WhiteNight123129
WhiteNight123129's picture

Gold is good for your health. With all the insanity around, you watch your Gold very fondly indeed (Buffet watch your insurance co fondly when the Bond market craps out and the insurance claims go to the roof, the balance sheet will be guillotined on the asset side and property and casualty accrual assumption on the liability side will implode, if the float shrinks on top of that, your father will haunt you in your dreams telling you that you were wrong, that a sound money is better.)

Thu, 04/12/2012 - 10:07 | Link to Comment dereksatkinson
dereksatkinson's picture

The miners are intermediate term oversold.  The Gold/XAU ratio is also at an extreme not seen since the 08 crash.

 

http://stockcharts.com/h-sc/ui?s=$HUI&p=D&yr=3&mn=0&dy=0&id=p55780558033

Thu, 04/12/2012 - 10:49 | Link to Comment Bay of Pigs
Bay of Pigs's picture

Not only that, the miners never recovered from pre 2008 levels. From 2001-2008 the Gold/XAU was in the range from 2 to 5.

In other words, they are more mispriced than the metals which are also underowned and undervalued at this point in time.

One big reason for the miners weakness are the shams and frauds of SLV and GLD, IMO. 

Thu, 04/12/2012 - 10:14 | Link to Comment WonderDawg
WonderDawg's picture

While in theory you might be right, but it sure acts like a risk trade with the price seemingly dependent on whether or not we get QE. Kinda like equities in that sense.

Thu, 04/12/2012 - 10:38 | Link to Comment dereksatkinson
dereksatkinson's picture

The Chinese bought 40 metric tons last month.  With or without QE, they are bailing on the dollar.  Same with the rest of the BRICs.

Thu, 04/12/2012 - 10:54 | Link to Comment Bay of Pigs
Bay of Pigs's picture

That is totally false. Gold and silver ran for years before any QE took place.

Its all about real negative interest rates. Not to mention deficits, currency debasement, unfunded liabilities, etc...

Thu, 04/12/2012 - 11:16 | Link to Comment WonderDawg
WonderDawg's picture

What, exactly, was the headline of this article?

Thu, 04/12/2012 - 11:21 | Link to Comment Bay of Pigs
Bay of Pigs's picture

Who cares. That isn't what you said.

Thu, 04/12/2012 - 11:26 | Link to Comment WonderDawg
WonderDawg's picture

Uh, yes it is. It's exactly what I said. And if you haven't noticed the way gold moves in tandem with the rumors of QE, you aren't paying attention.

Jeebus, I'm a PM guy myself, I believe in the long term advantage of owning physical, but I'm not blinded by gold fever, I can see what's happening. You should open your eyes. I know, it can be scary, but it'll benefit you in the long run.

Thu, 04/12/2012 - 12:23 | Link to Comment Bay of Pigs
Bay of Pigs's picture

You said "with the price seemingly dependent on whether or not we get QE."

That is false. Maybe open your own eyes. Perhaps take a longer look at the Golden Bull run the last 12 years. There was no QE for most of it.

Edit: And not only that, QE started in 2008 and has not stopped. These rumors are a smoke screen. 

Thu, 04/12/2012 - 12:40 | Link to Comment WonderDawg
WonderDawg's picture

I can't tell if you're being intentionally obtuse, or if you're really that fucking stupid. Either way, you're missing the point and I don't have the patience or inclination to debate with you. I deal with reality my way, you deal with it yours.

Thu, 04/12/2012 - 13:07 | Link to Comment Bay of Pigs
Bay of Pigs's picture

You remind of the warden in Shawshank. Obtuse? LMAO...

Good one.

Thu, 04/12/2012 - 13:35 | Link to Comment WonderDawg
WonderDawg's picture

Yes, in layman's terms, it means not real sharp. Slow on the uptake. Not the sharpest tool in the shed. Not to say you're not a tool, but you get the drift.

Thu, 04/12/2012 - 10:01 | Link to Comment legal eagle
legal eagle's picture

A golden woodie, just let it happen, do not be afraid

Thu, 04/12/2012 - 10:22 | Link to Comment resurger
resurger's picture

lol Epic

Thu, 04/12/2012 - 10:03 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Here's Johnny!!!!!

 

Thu, 04/12/2012 - 10:02 | Link to Comment ZeroPower
ZeroPower's picture

It's ok, he's actually long gold in ZAR monkeys.

Thu, 04/12/2012 - 10:02 | Link to Comment Capitalist
Capitalist's picture

Fade Gartman bitchez

Thu, 04/12/2012 - 10:04 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Crap......Gartman's dead again!

 

Thu, 04/12/2012 - 10:02 | Link to Comment TWSceptic
TWSceptic's picture

Gartman may be the perfect contrarian indicator.

Thu, 04/12/2012 - 10:03 | Link to Comment tocointhephrase
tocointhephrase's picture

Along with Nadler, giving it a bash (and gold) on a daily basis. What a bunch of muppet puppets!

Thu, 04/12/2012 - 10:08 | Link to Comment Al Huxley
Al Huxley's picture

That's Nadler's job (probably Gartman's too) - lie to the gullible and get them to sell whatever gold they have before the reality of the massive amounts of debt to be unwound finally hits home in a big way.  I was in the mall the other day and one of the 'cash for gold' guys was telling me that a good reason to sell any 'old gold' I had was because it helps meet demand without mining, which is very environmentally destructive!  Not even sure how to take that - I should sell my gold not because the price is going down, but because it will help OTHER BUYERS get it without having to mine it?

Thu, 04/12/2012 - 12:04 | Link to Comment prole
prole's picture

You should have told him that you are the demand and promptly asked him to sell you some gold. I would be curious to hear his answer?

Thu, 04/12/2012 - 12:12 | Link to Comment tocointhephrase
tocointhephrase's picture

These places only buy, never will they sell to the public, says it all really!

Thu, 04/12/2012 - 10:29 | Link to Comment WhiteNight123129
WhiteNight123129's picture

"may?". He is for sure. I bought a bit at 1630 thanks to Gartman.

Thu, 04/12/2012 - 10:02 | Link to Comment Barry McBear
Barry McBear's picture

Gartman sold gold priced in bullets, so he's up.

Thu, 04/12/2012 - 10:03 | Link to Comment Coldsun
Coldsun's picture

I saw the spike on my iGoogle page and had to check ZH to see what happened. Thanks for the quick Post Tyler.

Thu, 04/12/2012 - 10:03 | Link to Comment Gordon Freeman
Gordon Freeman's picture

Gartman is long of horseshit...

Thu, 04/12/2012 - 10:04 | Link to Comment HarryM
HarryM's picture

The lunatics are running the asylum

Thu, 04/12/2012 - 10:03 | Link to Comment Divided States ...
Divided States of America's picture

This QE on and off stuff is worse than the 3 little pigs

Thu, 04/12/2012 - 10:52 | Link to Comment DosZap
DosZap's picture

This QE on and off stuff is worse than the 3 little pigs

No worries mate, there will be a QE 3, no way out of it......................period.And I suspect a lot sooner than they had hoped.

Thu, 04/12/2012 - 11:38 | Link to Comment SheepDog-One
SheepDog-One's picture

Cool, I'll laugh in their face at $120 WTI.

Thu, 04/12/2012 - 10:05 | Link to Comment firstdivision
firstdivision's picture

If this is a QE trade being set up (which it mostly appears to be), why are the long yields rising?

Thu, 04/12/2012 - 11:47 | Link to Comment viahj
viahj's picture

30yr auction today?

Thu, 04/12/2012 - 10:06 | Link to Comment resurger
resurger's picture

iGold Bitchez...

 

Thu, 04/12/2012 - 10:05 | Link to Comment VonManstein
VonManstein's picture

You think bernanke will kill it tomo?? smash everyone back down?

I bought the gold and solver dip phyzz anyways so just a point of interest really

Thu, 04/12/2012 - 10:12 | Link to Comment BanjoDoug
BanjoDoug's picture

DON'T ever believe the experts or the influential when they badmouth gold and say they are selling or have sold their holdings - most likely they are either stupid (thus not deserving of your attention) or they are LYING to help suppress the price, while they turn around and buy, buy, buy.....

Remember, in order to keep the world in fiat currencies, TPTB edomite-banksters need to smash/manipulate gold (mostly via paper gold) values continually....  expect this to happen until the fiat crashes.

Thu, 04/12/2012 - 10:06 | Link to Comment EL INDIO
EL INDIO's picture

More QE rumours, talk and BS.

How many times do they have to do this until people learn ? !

Even monkeys learn, I guess they are truly Muppets !

Thu, 04/12/2012 - 10:14 | Link to Comment xela2200
xela2200's picture

It is probably just the algos at this point.

Thu, 04/12/2012 - 10:23 | Link to Comment EL INDIO
EL INDIO's picture

Muppet algos !

Thu, 04/12/2012 - 10:06 | Link to Comment Magnix
Magnix's picture

Come on, when is it going to crash!?

Thu, 04/12/2012 - 10:08 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

AAPL plunges today.

 

Thu, 04/12/2012 - 10:12 | Link to Comment Quinvarius
Quinvarius's picture

This is a crashed price.  This is thirty years of enforced low prices skidding along the rock bottom. 

Thu, 04/12/2012 - 10:07 | Link to Comment sabra1
sabra1's picture

OT:

let's make this video go viral! YES WE CAN!!!

http://www.infowars.com/impeach-obama-2012-join-the-national-campaign/

Thu, 04/12/2012 - 10:07 | Link to Comment navy62802
navy62802's picture

So is the Dow ... just goosing the markets. That's all.

Thu, 04/12/2012 - 10:07 | Link to Comment Quinvarius
Quinvarius's picture

Since it is up today, Gartman will say he was "long of gold".

Thu, 04/12/2012 - 10:08 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Most assuredly.....

 

Thu, 04/12/2012 - 10:13 | Link to Comment Quinvarius
Quinvarius's picture

Since I don't think Gartman has internet access, we probably won't know what he will say until he gets his daily price telegram from Western Union.  

Thu, 04/12/2012 - 10:21 | Link to Comment HD
HD's picture

...in yen terms.

Thu, 04/12/2012 - 10:10 | Link to Comment buzzsaw99
buzzsaw99's picture

imo the fed jawbones of an[sic] asses are helping the big banks whipsaw the markets.

Thu, 04/12/2012 - 10:10 | Link to Comment xela2200
xela2200's picture

In a normal Precious Metal market, it would mean that something is coming our way as PM have a way of sniffing problems ahead. In this "market" who knows.

Thu, 04/12/2012 - 10:11 | Link to Comment The Swedish Chef
The Swedish Chef's picture

Cue FED "hawk" for PM smackdown in 3, 2, 1...

 

You stack, you wait, you don´t listen to the morons.

Thu, 04/12/2012 - 10:13 | Link to Comment Arnold Ziffel
Arnold Ziffel's picture
TABLE-Russian gold/fx reserves rise to $516.7 bln http://www.reuters.com/article/2012/04/12/russia-reserves-idUSR4E7JO01V2...
Thu, 04/12/2012 - 10:14 | Link to Comment Shizzmoney
Shizzmoney's picture

Buy gold now, await QE3, wait 60 days after election, witness crash, then sell like a motherfucker. 

Or, if you are a survivalist, just store your gold and/or sell for silver pence, place in secure place, and.........

Enjoy profit.

Easy game.

Thu, 04/12/2012 - 10:19 | Link to Comment mayhem_korner
mayhem_korner's picture

 

 

Let me know when you're at the "sell" stage.  I'll be happy to take some of your phizz, shizz.

Thu, 04/12/2012 - 10:26 | Link to Comment aphlaque_duck
aphlaque_duck's picture

There WILL come a day when PMs are overvalued in terms of income assets. It's a cycle.

Thu, 04/12/2012 - 10:31 | Link to Comment mayhem_korner
mayhem_korner's picture

 

 

I don't hold gold for "profit," and never think of it in terms of it's performance v. other assets.  To me it is a store of the purchasing power of the fiat I converted to it.

"Income assets" rely on paper claims on cash flows.  If your call of "cycles" comes to be, you may have a real hard time reclaiming those paper assets.  Water, water everywhere but not a drop to drink. 

Thu, 04/12/2012 - 11:20 | Link to Comment DosZap
DosZap's picture

I don't hold gold for "profit," and never think of it in terms of it's performance v. other assets. To me it is a store of the purchasing power of the fiat I converted to it.

 

Bingo, the life raft of dying fiat.

It's life insurance......................

Thu, 04/12/2012 - 10:47 | Link to Comment HoofHearted
HoofHearted's picture

There will come a day when gold is overvalued in terms of something. It might be income assets, it might be arable farmland, it might be cows or wheat. That day is not today. It's not likely to be next week. We'll all know it when it comes. It's when Dr. Teeth (and all the rest of the Muppets) have all their teeth gold instead of just one. Sell on that day.

Thu, 04/12/2012 - 11:51 | Link to Comment mayhem_korner
mayhem_korner's picture

There will come a day when gold is overvalued in terms of something.

 

While I don't disagree with your sentiment generally, there is a point being lost in the semantics.  Gold's value does not change...it is the things around it, for which it can be exchanged, that change in value.  So I would simply say that there will come a day when something (like real estate) is a bargain.  On that day, I just might be happy to sell you some for the right weight of gold.  :)

Thu, 04/12/2012 - 12:21 | Link to Comment prole
prole's picture

I agree with your position. In Zimbabwe when the currency collapsed, those with bread/cooking oil (food) only sold it for gold, down to the grain of gold- for a loaf of bread:

http://www.youtube.com/watch?v=7ubJp6rmUYM

The Zim natives didn't seem to notice that they live on THE MOST FERTILE SOIL ON THE PLANET!

and they killed their farmers, but that is a different story

Anti gold trolls (not on this thread) say if things ever get sticky, their gold won't be worth anything .. this video, and simple logic, demonstrate that if you don't have food, ONLY gold will be worth anything

 

Thu, 04/12/2012 - 10:59 | Link to Comment DosZap
DosZap's picture

then sell like a motherfucker.

And for what may I ask?.....................fiat?, the new & improved toilet paper?.

Thu, 04/12/2012 - 11:27 | Link to Comment The Swedish Chef
The Swedish Chef's picture

For what ever people use their savings for. Real eatate is a great exit strategy, especially if you´re looking at productive real estate or rentals. 

 

I hold PMs, the little I´ve got left after I had that unfourtunate boating accident, for when the time is right to enter the real estate market.

Thu, 04/12/2012 - 10:16 | Link to Comment janchup
janchup's picture

If you want to make money in gold ALWAYS do the opposite of Dennis Gartmann

Thu, 04/12/2012 - 10:28 | Link to Comment Bastiat009
Bastiat009's picture

Most definitely ... it's actually quite amazing.

Thu, 04/12/2012 - 10:21 | Link to Comment Sandoz
Sandoz's picture

Gold spikes every time there are rumors of QE3. If this time is anything like the last 2 times we had rumors of QE3, then we'll see a good bull trap formed by the rumor followed by a drop to new lows. 

Thu, 04/12/2012 - 10:25 | Link to Comment xela2200
xela2200's picture

Could be, but at this time I think there are a lot of small shorts getting their balls squeeze.

Thu, 04/12/2012 - 10:34 | Link to Comment vote_libertaria...
vote_libertarian_party's picture

When is there NOT rumors of QEn?  Watch financial TV, financial news websites, etc..  Somebody is ALWAYS talking/reporting about the likely next wave of funny money about to be unleashed.

Thu, 04/12/2012 - 11:05 | Link to Comment DosZap
DosZap's picture

 then we'll see a good bull trap formed by the rumor followed by a drop to new lows.

Wunnerful!!!!!!!!................just what I have been waiting for.

If that does happen Physs holders will buy like biatches, and you will  be lucky to get ANY.

So make sure your finger is on the key.

Thu, 04/12/2012 - 11:28 | Link to Comment GrinandBearit
GrinandBearit's picture

After they knock the prices down with paper dumps or margin increases, it usually keeps going down for about 1-2 weeks after such an event.  I always wait 1-2 weeks after that before I buy more... it's worked 90% of the time so far.

Thu, 04/12/2012 - 10:22 | Link to Comment Paul Atreides
Paul Atreides's picture

GO GO GO keep on popping baby, don't stop!

Thu, 04/12/2012 - 10:23 | Link to Comment bnbdnb
bnbdnb's picture

Chinese GDP will beat expectations tomorrow.

Thu, 04/12/2012 - 10:29 | Link to Comment Silveramada
Silveramada's picture

man, we called the bottom at 1600-1625 a week ago in a perfect 5 waves-ABC correction, in YEN you can see the chart is perfect compared to in $....from here we should shoot up to the stratosphere and take the old 1920 level (with of course a few bumps on the road and manipulators corrections aka BUY THE DIP OPPORTUNITIES!!!)

ahhh, by the way, FUCK YOU BEN!

Thu, 04/12/2012 - 10:30 | Link to Comment HD
HD's picture

Two hours ago I saw Ben Bernanke come out of Maria Bartiromo's dressing room. She had printers ink hand prints on her ass - and Ben had Cheetos dust on his pants zipper. There was talk of "stimulus".

One hour ago a new QE rumor started.

 

 

Thu, 04/12/2012 - 12:26 | Link to Comment prole
prole's picture

That story kind of stimulated me

Thu, 04/12/2012 - 10:30 | Link to Comment Bear
Bear's picture

QE rumors ... ES up the same percent as AU

Thu, 04/12/2012 - 10:31 | Link to Comment gold-is-not-dead
gold-is-not-dead's picture

I'M ALIVE :)

Thu, 04/12/2012 - 12:28 | Link to Comment prole
prole's picture

A pox on whoever downvoted you. Probably Methman lurking ... angry .. suicidal ..

Thu, 04/12/2012 - 10:34 | Link to Comment bnbdnb
bnbdnb's picture

The bear run is over. Again.

 

Next up, +750k unemployment claims, and DOW 18k.

Thu, 04/12/2012 - 10:40 | Link to Comment HD
HD's picture

I doubt anyone believes QE is coming. They know it's a BS rumor to bump the market up off the wave of bad data this morning.

It will be interesting to see if they start to sell it off before close like yesterday.

Thu, 04/12/2012 - 10:45 | Link to Comment bnbdnb
bnbdnb's picture

Key words, "Inflation will moderate". Thats the feds concern. They keep saying that, with the numbers about to come in on PPI, they have justification.

Thu, 04/12/2012 - 10:54 | Link to Comment HD
HD's picture

The Fed WILL print...but not now. First, Ben needs commodity prices way down and needs to keep the ten year down. The best way to do that is to let the market fall 15% to 20% - and that (with the shit storm that is coming to the EU) will allow Ctrl+P.

Thu, 04/12/2012 - 10:37 | Link to Comment youngman
youngman's picture

I think its the 3%(us)...going to 5%....more and more people and countries see gold and silver as the "safe haven"...not someones debt anymore.....and at some point it will be 40%....

Thu, 04/12/2012 - 10:40 | Link to Comment israhole
israhole's picture

Gartman is "now of"...lol, good one!

Thu, 04/12/2012 - 10:44 | Link to Comment The Continental
The Continental's picture

Can someone here please explain to me why the FED has not been engage in continuous QE since 2008? 

Presently, the FED is buying ~80% of new debt issuance. Granted some of this comes from the proceeds of long bond sales (Operation Twist). But the only way for the FED to maintain short term interest rtes at virtual zero is to buy any bonds dumped onto the market. So QE never stopped. The FED is trying to con the markets with anti-gold propaganda and a disgustingly self-serving rewriting of recent history vis-a-vis the 'beneficent' role played by the central bank in the economy during the 20th century. So what am I missing here?

Thu, 04/12/2012 - 10:47 | Link to Comment bnbdnb
bnbdnb's picture

Nothing, just semantics. IMO...

Thu, 04/12/2012 - 11:41 | Link to Comment GoinFawr
GoinFawr's picture

yep. kinda like the egregious discrepancies between dictionaries and financial institutions regarding the definition of the word "allocated"

 @continental: I think that you're absolutely right, since '08 'debt monetization', 'QE', 'money printing', or whatever the kids are calling it these days hasn't once come even close to slowing down, let alone 'stopping'. Investors are being led by the nose to watch for the exact wrong thing. When rumours of 'a new round of QE' are spread it is really just a signal that there is no immediate intention of even reducing the frenetic rate of 'printing' that is already in play.

'ZIRP' is the indicator that really matters, IMO. Tough to be 'hawkish' in that kind of environment, no? Zirpbabwe.

It begs the old philosophical question: If BenBee cuts down a trillion trees to print fiatscos and forks them over for nothing to his friends who stay schtump, does he have to make a sound?

Thu, 04/12/2012 - 10:51 | Link to Comment digalert
digalert's picture

Isn't it amazing how gold and silver charts are almost identical? Thus forcing me to buy my physical equally in gold and silver, it's my diversified portfolio. crash JPM buy silver

Thu, 04/12/2012 - 12:33 | Link to Comment prole
prole's picture

Well we are not going to crash anything . But I think it is wise to "gradually accumulate gold*" and silver too, to avoid being muppets.

*Marc Faber

Thu, 04/12/2012 - 10:54 | Link to Comment HurricaneSeason
HurricaneSeason's picture

Wait until our geniuses get on tv to debate another trillion or 2 being added to the debt ceiling in September or sooner. QE is just another name for writing bad checks, which they do every month in hundreds of billions in bond purchases. Adding trillions to the debt ceiling will be a real circus this time. China might start selling our old bonds faster.

Thu, 04/12/2012 - 10:59 | Link to Comment Bear
Bear's picture

Watch out .... Apple will soon fall from tree

Thu, 04/12/2012 - 10:59 | Link to Comment beachdude
beachdude's picture

"Don't tell Gartman, but gold is now of 5% higher in math terms..."

I'm looking forward to either/both FM on cnbc today. Even Lee and the cast have been subtly ridiculing him the past several weeks.


Thu, 04/12/2012 - 11:02 | Link to Comment Frank N. Beans
Frank N. Beans's picture

we're back to bad news is good news

fuck you bernanke

 

Thu, 04/12/2012 - 11:06 | Link to Comment the 300000000th...
the 300000000th percent's picture

Its been QE all alone with operation do the twist, its just back to the ol fashioned hard core QE

Thu, 04/12/2012 - 11:18 | Link to Comment Sizzurp
Sizzurp's picture

Front running the fed has pushed up the bond market for years.  It's a tried and true game.  If the game didn't exist, interest rates would be 10%.  Therefore it will never end as long as they are in control.  It can't end.  QE to oblivion.

Thu, 04/12/2012 - 11:38 | Link to Comment chibato
chibato's picture

Isn't what is happening with QE3 basically the same thing that happened with Greece (and the debt ceiling for that matter)?  They are going to defualt..no they are saved...no they're going to default...no, saved, until people became so desensitized that when, in essence, Greek defualted people didnt really even care. If the same thing would have happened initially, the shock would have been much worse.  To QE, not to QE until it finally happens and John Q Public are glad that they stop talking about it.

Thu, 04/12/2012 - 11:58 | Link to Comment mick_richfield
mick_richfield's picture

I want a chart showing the frequency of anti-PM postings by obvious trolls on ZH, versus PM prices a day or two later.

Remember how they all showed up here yesterday or the day before?

This could be an excellent market timing tool.

Thu, 04/12/2012 - 12:35 | Link to Comment prole
prole's picture

Sandoz .... Would you care to comment?   .. No comment?

Thu, 04/12/2012 - 16:11 | Link to Comment ViewfromUnderth...
ViewfromUndertheBridge's picture

Bring back Johnny Bravo!!!!

Thu, 04/12/2012 - 18:03 | Link to Comment akak
akak's picture

Bite your tongue!

A day without JohnnyBravo is like ..... a day without hemorrhoidal flareup.

Thu, 04/12/2012 - 15:07 | Link to Comment Clowns on Acid
Clowns on Acid's picture

The BRICS do want to deal in USD, but they do because it is (was) the reserve currency. Thanks to Mr BenDover the USD, as it exists today, is dead, it's only a question of time, and not that much time (6 to 18 months?).

The BRICS are stocking up on Gold and silver to a lesser extent. When the market chatter turns to the BRICS thinking of creating a "new" reserve currency based on Gold/silver (and believe me if I am thinking about they are doubly so), we will see a parabolic move toward 2000/oz.

That time is not far away (perhaps pre election?). The probablility of QE3 is becoming moot.

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