Gold, Silver Plunge As Fears Monetary Punchbowl Is Taken Away Spread

Tyler Durden's picture

It seems the initial drop was merely the appetizer as Gold and Silver are now down considerably...

 

Chart: Bloomberg

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kito's picture

geeee, i guess ZIRP isnt qe after all.....duh

maxmad's picture

Or did RP just get Berstanke to agree to a silver standard!

trav7777's picture

shit is off massively now, gold down 52

Temporis's picture

Look at the dollar go! All hail the mighty dollar.

Print to infinity!!

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Mr Lennon Hendrix's picture

I just checked my PM stash and it is all still there.  Can't rehypothecate my PM, bitchez!

Mr Lennon Hendrix's picture

I have been buying miners a bit over the last few weeks.  I might go to the coin shop if gold breaks below $1680.

Also, I would like to continue the fight that was picked with me a la those who junked me yesterday when I said not to buy.  Anyone who junked me and sparred with me yesterday when I said not to buy is more than welcome to come and fight right now, especially that duchebag who is obviously Zero Hedge's gossip girl, talking shit behind members backs.

trav7777's picture

for fuck's sake i was gonna short SLV yesterday, started looking at the ST put option chain on that bitch

gold off 67, silver 2.18...correction now -69, -2.82

Troll Magnet's picture

Woohoo!  Fall!  Fall!

Wondering if I can make it to the coin shop and back to work in time during lunch...

Manthong's picture

It's just a part of the show..

And the kabuki will continue until a surprise happens.

                        Then it will be a rush to the fire exits.

tmosley's picture

Yup, looks like old Tmo might just have been right after all.  "Increasing volatility with a downward bias," being the relevant part of my prediction here.

It is fun to watch the price rise, but that same rise is very disappointing when your thesis is for a paper/physical divergence and an exchange failure.  

This is exactly the kind of move that I want to see, as it helps me to fulfill my thesis.  It also shakes out the weak hands and those who are not fit to become the next group of ultra-rich.

Max Fischer's picture

 

 

.....those who are not fit to become the next group of ultra-rich.....

Dude, you're weird, if not entirely delusional.

Max Fischer, Civis Mundi

Flakmeister's picture

You forgot narcissist with a strong streak of Dunning-Kruger...

trav7777's picture

and moron.

gold down 80+ now...brutal.

Still no evidence that I can't get silver right at/near spot.  In fact, during this whole "decoupling" that cliff mosely-yun-lareah-claven has been bleating about, we have people on ZH posting about where they've been consistently getting silver basically at spot.

akak's picture

And yet for all your vitriolic, rabidly hateful and irrational denigrations of holding silver, those who purchased it exactly one year ago (you know, during the so-called "speculative bubble") are still in positive territory, those who purchased it exactly two years ago are up a bit more than 100%, those who purchased it exactly four years ago are up 71%, those who purchased it exactly six years ago are up 252%, those who purchased it exactly eight years ago are up 411%, and those who purchased it exactly ten years ago are up 667%. 

So tell me again, junior Nadler, just what is so bad about any of this?

tocointhephrase's picture

a trav is t 2 play the paper game. Good luck with that receipt.

Theta_Burn's picture

DUDE

 Held AGQ MAR17 putz (ya no for that bernyank putz) and fucking sold them @ 5.20.... currently @ 8.20 at one point 700% increase after i sold

AGQ is fucking destroyed at the moment

Hugh_Jorgan's picture

We can't have PMs going parabolic a ruining the global Ponzi & Kubuki double-feature.

Don Diego's picture

Jon Nadler, the perfect contrarian indicator said yesterday gold was going to bypass 1800 $/oz

akak's picture

Impossible --- Jon Nadler has NEVER called for gold to rise!  For him, the price of gold is always on the cusp of a radical and permanent plunge, and the US dollar is always to remain strong, forever and ever, amen.

trav7777's picture

I feel ya lol...the techs just didn't scream short like at 49...they were not only screaming at 49, they were using profanity.  I shouldn't have waited for a perfect setup and instead should have gone for a high probability setup.

caconhma's picture

Let us see

 

·        BRENT CRUDE is still positive ($121.570)

·        Iran vs.  Zionists issues are still there

·        Iran will charge gold for its oil

·        This is an election year and Obama is their man. So

o   The FED will print, print, print

o   Obama government statistics will be nothing else by lies and fraud

·        Europe financial problems are not going away any time soon

 

PS

This time the FED was capable of pushing Gold prices down but commodities prices (gas, food, etc.,) did not move at all. The FED has failed to make inflation numbers disappear.

EBR MOD 0's picture

go lower so I can buy more on the dips bitchezz

john39's picture

but they can rehypothecate you.

krispkritter's picture

So you went diving today? Jealous, haven't been in the water in months...

NotApplicable's picture

Goldman Bigshot = Guy from India.

Are TPTB trying to tell us something? Say RICO-like?

uno's picture

Kudlow gets to do another line of coke before saying King Dollar 

Max Fischer's picture

 

 

Can anyone guess what Turd Ferguson told his readers yesterday? 

*LOL*

Provided silver stays strong, which I think it will, gold will rally. Tomorrow will likely be gold's day. The charts seem to confirm this, too.

I would not be at all surprised if gold erupted through 1800 and began running directly toward the upper end of its trend channel, near 1850......

Look, you may think that I'm letting my emotions get the best of me. I'm certain that there will be comments made to this post that will urge caution and claim that I'm simply chasing momentum. Let me assure you that that is not the case. Use your eyes and your brain. Draw from your own, hard-earned experience. Silver has steadily moved from $28 to $37 in nine weeks.....

Does this guy get anything right?  Let's chart more manipulation!

Max Fischer, Civis Mundi

SheepDog-One's picture

Well, anyone predicting even tomorrow with charts is going to get creamed in this ass hat market.

EBR MOD 0's picture

SD1 + as long as the EE is still allowed to manipluate the markets it is a guess, IMHO.

Transformer's picture

Hey Max,  Where is your blog about predicting PM prices and conditions?  What? You don't have one?  TF is right a high percentage of the time, which is all anyone can do.  To predict what's going to happen when the Bernank speaks, well, that's pretty hard to do.  The Bernank, after all, is the representative of those who would manipulate the market.

Tsunami Wave's picture

I'd give TF Metals a 6/10 score.. which isn't bad considering he isn't at the pits in any trading floor, and only trades with the info he has available on various websites.  He knows a lot of technical analysis, makes predictions according to typical manipulations.. though he can only predict so much with his limited information. He's not sitting at a desk in JPM or the CME Group.. but he's still more right than this dumb motherfucker.

Max Fischer's picture

 

 

The only reason Turd gets anything right is because he's bullish during a PM bull run.  It's no different than having been bullish on Apple for the last year. 

However, if you look at his technical analysis where he uses extremely short term charts (often 15 minute charts) to advise on entry and exit points, he's no better than a drunk with a dartboard. Probably worse. But lucky for him, his collection of readers are some of the dumbest doomer goons in the blogosphere, so they really don't care nor notice. They're just looking for an echo chamber of PM cheerleading and which canned ham tastes better than others.  Ra, Ra, Silver! Price doesn't matter!  Buy and bury!  The COMEX is gonna default tomorrow!  The gubbermint ain't gonna git me and me gold!  My ammo stash is better than your ammo stash!

In response to Watagua beneath this post, well of course gold and silver can go up or down.  Of course, he doesn't have a crystal ball. That's not a disclaimer. That's just gratuitous, hollow bullshit. 

Max Fischer, Civis Mundi

Watauga's picture

Sorry Max, but you appear to be reading an entirely different Turd Ferguson than I am reading, or you simply dismiss as "hollow bullshit" the exact same sort of disclaimers that ALL investment analysts employ.  Why, in Turd's case, are his cautions and disclaimers and even-handedness "hollow bullshit," but in the hands of a Fidelity advisor its like manna from Heaven?

Turd provides HIS technical analysis.  Take it or leave it.  You do not need to invest based upon it.  He never tells you to do so.  Why such a burr under your saddle about Turd and his readers?

While there may be a few canned ham aficianados and preppers who read and post to TFMR threads, how does that impact Turd's analysis?  And what makes you think that the preppers are wrong (I am not a canned ham fan, even at $2.50 per ham, so I disregard those very few-and-far-between posts)?  It does not take a genius to see that is happening to the U.S. Constitution, day-by-day, and how central power is growing at the expense of liberty, and how, if you can put 2 and 2 together, it is easy to see how it all could easily fall into place in a nation with $130T in debt and obligations that is the "safe haven" for Europe's money as the EURO and the EUROZONE collapse into chaos.  As the old line goes, better to be prepared 10 years early than 10 minutes late.  Even the most conventional, prudent investor should have some physical gold and silver, some good self-defense and hunting guns and ammo, and a good plan to get to a safe place with good supplies in the event of either a natural or manmade catastrophe.  So, how does any of that condemn Turd? 

oddjob's picture

Turd predicts it will rise and fall, or fall and rise. Its really hard to look bad making those predictions yet he is pulling it off.

Bay of Pigs's picture

You never hear from Max or Trav when TF hits it right.

Armchair QB's, who never put themselves out there until AFTER the move. Weak ass shit.

trav7777's picture

hey man, nobody is more pissed than I.  I took a look at some TA suggesting silver was time for profittaking...I agreed with that.  The technical case didn't look compelling enough for me to go short, but I did actually punch up SLV and the options chain on AMTD yesterday, plus the chart just to see where i thought it was.

Saw overhead resistance and some pretty bullish moves but nowhere near the overboughtness that it had for a LONG time en route to 49.  Just wasn't feeling it.  Mistake, I agree.

That's the difference between me and Turd...I don't just randomly feel the need to speak if I have nothing to say that I have no basis to have confidence in.

akak's picture

.

 

I don't just randomly feel the need to speak if I have nothing to say that I have no basis to have confidence in.

Approximately 85% of your posts say otherwise.

Bay of Pigs's picture

+1

I, I, me, me me....

Such humility. LOL...

Beam Me Up Scotty's picture

Turd is one of us too.  Hes not trying to pump and dump anything for his own benefit.  Hes just in the lighthouse trying to warn those who are willing to hear his warning.  You know, we all have those that we try to talk to about the future that aren't willing to hear it.  I'll take his analysis over alot of other people.

He knows full well of the manipulation aspect of the metals even when he makes a chart based on fundamentals.

Floordawg's picture

Someone shit the bed.... a wet one too.

Tsunami Wave's picture

Does red neck repugnicant/texas gunslinger/libertarians for prosperity/Max Fischer get anything right? He said Gold was going to $1,000 per ounce 2 summers ago. He keeps saying silver should be much lower than $30 per ounce.

AgShaman's picture

I have a love/hate relationship with the PM paper traders.

I love when they think gambling at the CME's Casino can be productive long term....it provides buying opps for me/us in the phyzz.

I hate when they complain about the spoof trading and manipulation....like the boy that cried "Wolf". Everyone should know by now what kind of casino they are playing in....enter at your own risk.

 

Watauga's picture

Max:  While the part of Turd's post that you cite is, technically, accurate, you clearly have removed it from its context.  Turd cautioned several times that he has no crystal ball and that PMs could move south as easily as north.  As for your question whether Turd gets anything right, I would say that yes, Turd gets a great deal right.  Why?  Because he has maintained a long-term bullish position and most, if not all, of his "recommendations" are for buying on dips.  He knows that the markets are manipulated by the big monied interests, so he is always cautious.  However, his long-term position, shared by many on ZH and in the investment world, is that PMs are going higher, higher, and then higher.  So, you can "LOL" about the excerpt you posted, but you should be more fair in posting and include context.

European American's picture

Well, at least he's willing to put it out there on the line, "MAX". 

 

Don't point the finger unless you are Perfect. Then again, when you're perfect there won't be any reason to point the finger.

Imminent Collapse's picture

These discussions miss the basic point:  PMs are not traded in a free market.  They are completely manipulated. 

No amount of analysis matters. 

If and when TPTB lose the ability to manipulate the market, the ability to look at fundamentals and trends may be instructive as to a price point.  Until then, there is only one thing that you need to know - which direction TPTB want the price to go.  No need to blame Turd, except for the fact that he is actually attempting to rationalize his predictions.  Admit that you can't and then go to the casino if you like.  OR buy PMs for their long term value and don't worry about the ups and downs (but take delivery).  Cheers!

idea_hamster's picture

Really, no one took the punch bowl away -- we still have ZIRPetuity.

What we've realized is that the bowl is empty and it won't be refilled.