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Gold Up. Silver Up. USD... Up?
Is this the overwhelming exodus of 'real-not-synthetic' Euros finding safety? Or just an aberration? It seems yet another event-risk-driven divergence is occurring as different asset-classes seem to be disagreeing over who will do the printing (when, not if, they print) and whether the mattress or barbarous relics offer most protection.
Chart: Bloomberg
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run to reality debt slaves and all your debts will be wiped clean and then some thanks to the big printer in the sky.
Just remember, Marc Faber himself was cautious on gold. If gold and silver break long term trend lines on liquidation, we could get a cascade of selling before putting a floor underneath the PMs.
.....also remember Faber could be 100% wrong....
Blasphemy! Oh, you'll smoke a turd in hell for that!
Again, referencing a broken paper Crimex game.
I hope we get a paper cascading effect. Let's get this USD proxy-of-a-reserve-currency-manipulative-tool replaced already.
.....even as we speak....
ZH feeds me with so much information that I can't keep up anymore and there is no room to put this info...brain all full :/
keep stacking
I hope that when the paper price heads to 0, it won't do so too violently - because if it crashes in a way that doesn't make sense the paper/physical dislocation might start way earlier.
I'd be so glad to keep stacking some more at 15-20$ per oz!
Golds risk on just became safe haven. Just in time for raised debt ceilings and ended Operation Twist
15 to 20 Oooooooooo yes please, pretty please!!!!!!
I remember back in the day I bought some smokables on the beach in Spain that turned out to be exactly that...horse, I think. I was still in heaven tho
They just had Schiff on CNBS and I could not believe my eyes. They had him debate a doorknob and when the doorknob took the usual position the anchors actually backed Schiff. Never seen that before.
that's because he was talking about a country other than the US. they only laugh at him when he talks about the crooks at the FED and the ponzi scheme that is the US economy
Schiff vs a doorknob is a fairly even match. I'm sorry to have missed it.
Why so butthurt?
He could star in a remake of "The Jerk" ...
and we would only need to rewrite one scene to make it topical.
"... He hates these gold bars. Stay away from the gold bars."
http://www.youtube.com/watch?v=6NxLtVG9_eg
barliman
i hope the floor is far below i need more.
I think the floor is far lower. The mining stocks really tell the tale to me. Silver is probably a pretty awesome short at these prices.
Hedge by shorting Euros and on days like today you will be happy like me.
Tired of that...we've had "a cascade of selling" in gold for MONTHS already....does it have to go to ZERO for the dinosaurs?
Not at all!
Personally, once it hits $ 32/oz I am planning on backing up a semi to take my delivery from APMEX.
barliman
Yesterday, the only thing holding Green was Silver,today it went Red,(overnight it hit 27.88) while all else was Green............WHO da hell knows.
Anyone who is a bear on the PMs, which includes me, sees it as a mania (at least at this point). Gold is awesome & it is good to have some just in case. But - when the ads are running everywhere, family members are talking about talking about getting into the business and you see lines of people lining up outside the coin shop to sell their gold, you know you have a big problem and potentially the bottom could fall out.
When everybody hates gold, I'll be a buyer.
Hm. That day may come still.
So what?
Who cares if you are not buying it for a quick trade.
Heck--you have to be careful buying names like CAT IBM DELL HPQ TIF XOM MSFT GOOG APPL
last few weeks have not been so great for these
(or JPM MS FB C)
Everybody likes it going up, just like a ho for the more boners the better.
Strange days, indeed!
Glad it's not just me.
Dollar / gold strength together is a brow raiser alright.
Im thinking CB's buying again. The MO seems familiar a la '08 '09 ish.
and yet this isn't the first time since the EUR fell off the branch, as i recall
so we have some currencies where gold is goin UP and paper is going DOWN
CAD EUR CHF all are down and their holders may be trading for PMs here, especially on the dips, until things become clearer econometrically, financially, and fiscally
i saw this while i was replying to you, and it is excellent, here, Stoploss {as is this analyst, generally, imo}:
Will Gold Fall All the Way with the Euro?
By: Julian D. W. Phillips
and he agrees with you! and focuses on the nations and reserves
but, he also has some of my stuff too, seeing india buying being "delayed" by the falling rupee, though, for now...
Early holiday - no one minding the manipulation.
Just those poor, lonely bots.
+ 1
You gotta love Gallows Humor... I laughed until I cried.. USD, the prettiest horse in the glue factory.
But I was told gold isn't a safe asset. If I want safety I am supposed to buy treasuries. You can count on the integrity of the U.S. gov. ,right?
.......hello...is this thing on?
I've been counting on their integrity for years and years.
Never had it. Never will.
LOL ...
... just because you are talking does not mean their is ANY intelligence on the other end of the line.
barliman
"Hello? Hello!" Everybody's there!"
- George Carlin
Just another day of the man behind the curtain controlling Oz.
Any minute now, waiting on the late day rumor rally to push the dow into green territory to end Friday on a happy note
I have my new catch phrase waiting in the wings for that moment.
C'mon give us a taste
http://www.zerohedge.com/news/presenting-jpms-uber-prop-trading-desk-mee...
FX client accounts:
LONG XAU/USD & XAG(ONC)....I'm good...so are they.
http://implode-explode.com/viewnews/2012-05-24_5DayBankHolidayToPrepareForCollapseofEuro.html
the build bergz first keystone is the euro, the second the amero, and the third an asian currency.
maybe the destruction of the euro will set them back 50 years or so from raping us.
"The raping will continue until morale improves."
I guess lying about Consumer Confidence just won't be enough.
barliman
Oops, took their finger off of the button for a second. Release the ramp!
The robots were given the day off.
Their masters are already partying out in the Hamptons.
Well, it is International Geek Pride Day, after all.
Indeed it is.........Gooble Gobble
That explains the non-stop flights from boystown to Hamptons.
This is an interesting little article on GS price manpulation on PM miners:
http://finance.yahoo.com/news/goldman-sachs-gs-manipulating-junior-16170...
Someone knows something maybe?
Maybe there is a big "announcement" coming....
And the setup couldn't be any more perfect....just in time to let the muppets marinate in the "good news out of Eurpoe" over a long weekend!
// Cynicism off / /
PMs going nowhere fast.
Astute analysis Midge.
$20 up, $20 down. meh
Wrong, "soars" $20 up, "manipulated" $20 down
A good example of the attitude these days. A complete lack of clarity and understanding in regards to gold and silver.
FWIW, in the 15-20 years I've been following this sector almost daily I've only seen sentiment this bad once. In the fall of 2008 ($1000+ to $692 for gold and 21 to 9 for silver).
things have changed since then friend
Yup, the fundamentals for PMs are much better now, and the can is now the size of Ganymede. Gonna be hard to kick it much further.
Exactly my point tmosley. Some of these guys will never get it. Who are they kidding around here?
The USD is stuck where it was 7 years ago, and the only reason its up now is the falling Euro.
A couple o' years back, those in the know said when you start seeing $100 swings in gold, you know the wheels are coming off the cart.
Guess we're there, midget ranny porn.
Don't worry PMs will be getting hammered again soon. USD FTW!
Wrong. Gold rose from Aug 05 to May 06 from $430 to $725. USD rose at that time too.
So what's is your point?
I need a little more time to make up what is left of my mind.
Euroflighter is skewing all instruments as it surpasses mach-1.
Some bank-runners are more discerning than others.
Ok last hour Dow down 80 - How will this end up ?
87%- Dow Even or green- last hour algo buy on euro hope rumour
10 %- Dow slightly negative -Gets back most of losses.
2% - Dow ends up in a range where it currently is
1% - Dow selling accelerates in last hour
Safety in paper gold and paper silver. SMART.
I wonder how much of this flow of funds is actually going into PHYSICAL PMs?
i just swapped £1500 sterling for a chunk of shiny metal!
what a sucker
Swaped some nylon/cotton debt instruments for some Kugerrands last week.....like stealing candy from a baby.
*disclaimer: Although, I quickly lost them in a boating accident...
dang me too.. its a conspiracy i swear it
That reminds me, I need to go buy some kind of boat...
My trader just told me they are having a Memorial Day Super Sale on FB stock and I better get in now......
even the VXX is behaving strangely.. like it has a downward bias
by Ed Steer
Ed Steer’s Gold & Silver Daily
http://financialsurvivalnetwork.com/2012/05/wall-street-journal-says-com...
Making the world safer for JP Morgan to manipulate.
Why should my dollars go to bailout the Crimex? The people had no say in that decision - we get more fascist everyday.
Look out. I, that is, my best contrarian indicator, now favors gold and silver over canned tuna. But, only after the next confirmation of a rally.
Some of my silver and gold miners made new 52 week bottoms on Wednesday. Since the bullion bank vultures still have the power to naked short millions of paper ozs., i'm waiting for a strong bottom formation before I get giddy. I have enough real metal stashed, looking for those bargain ozs. in the ground. No question the bull has been pushing at the gate.
Gold is a hedge vs the shit hitting the fan. If the shit hits said fan, the miners and their gold in the ground will be nationalized, especially if it's coming from a place like the congo or south america.
Your miners and your gold in the ground will become Che's gold as what you thought was phyz gets Corzined. The miners are a pure paper play and not a hedge vs. TEOTWAWKI.
e) All of the above
Under the current circumstances, the inexplicable divergences were are seeing are the only specks of sanity you can hold on to.
If everything "appeared normal" ... It would be time to activate all the perimeter defenses and shoot the first thing that makes a noise.
barliman
MMmmmm....Gold...!
NOT just a breakfast drink.
"MMmmmm....Gold...!"
'Not just for showers.' Paul Krugman
barliman
Sorry, I think the floor is in. And while there may be fits and starts, we are going higher for a long while. That is where my confetti is, and I have my real money safe and sound. Euro so stretched to the down side and that is all they talk about.....Europe. And finally, is that good money from Europe moving into a real safe haven. Gotta luv it.
No surpise here. Like I said before - moderately rising PMs. And that is based upon different world pressures - collapse of euro and strength in the dollar are the main two. The overall theme will be deflation though which means a great need to cover debts. And what is excepted as payment for debts will be the strongest. PMs is at this point not recognized as that medium. But that may change some day. Finally, we may see hyper inflation AFTER the deflationary period and that also bolds well for PMs. But that is still years in the future.
3 primary mechanisms at play here:
~~~
1) gold margins lowered for paper/digital markets
2) Euro- down therefore European demand for precious metals is Up. (in additon to USD demand in Euros up)
3) USD is up (due to Euro/Europe), but since demand for Gold is up this also increases dollar denominated gold prices.
Buy the living shit out of the metals - the hedgies with their prime margin accounts at JPMorgue are now liquified through dumping the GLD after getting those big cash calls due to Jamie's fucked-up trade. Could the current environment be any LESS PM-friendly?
That chart is the first real "Green Shoot" I've seen. ...wait I mean Green Shart
Fellers, I got this funny feelin' that sometime in the near future (6 months) we're gonna' see the PM pricing take a bath-AND without the rubber ducky because nobody will probably sell at those down and dirty dollar prices.
Except the mint and gainesville coins. =)
At least until physical shortages hobble the process.
Paper is a blowfish and it will choke on itself.
Carry on, continue to stack.
FYI, spot has only moved 30 cents, and half of you are losing your hair. Get some pussy and get laid. Stop worrying about a half dollar like a bunch of pensioners.
Its about time that gold and silver decoupled from that worthless piece of eurotrash.
Fucking boring. Where is Meth MAN, and Robot Trader when you need them ?
u don't want "Master Bates" here.. he was here before mathman
I really can't understand the debate here. I'm not sure when (..and I'm sorry, I didn't notice it..) all the mal-investments were unwound & all the printed (covering) currency was rescinded - along with all those pesky 'debt' thingies; but perhaps I wasn't paying attention.
I also missed the part where we ("The West") got all that productivity loss back, where we suddenly found we undercut the BRICS with their ludicrously over-priced labour market. Come to think of it, I must be having delusions about my local economy - those closed shops & legions of un- & under- employed compatriots must just be lazy & living of our surplus economic power - sorry once again, my bad,.
I do try to keep up here, but hell - I must have missed that submission ( yesterday sometime?? - typical, I was at the dentist!...) where it explained all those bad effects & consequences of the past 50 years had been sorted - thank God for all those clever people we wisely chose to lead us (actually, deep deep down, I knew they wouldn't flunk it!).
Anyway, mustn't ramble on, just a bit sorry my PM sttrategy didn't pay off (well, you win some, you lose some as they say..), but who needs them anyway, well paying jobs will surely become more abundant as this mess finally resolves itself.. so no worries.
Must go & have a good kip now - good night all! Above all, don't worry now - remember, it's all been sorted.
It's been sorted alright.
My stack strategy.
Robot Trader reared his ugly head earlier today on ZH to everyone's surprise !
we few, we happy few, we band of silver holders . . .
- Outlines a hypothetical Widom-Larsen Theory LENR neutron-catalyzed transmutation network that produces stable gold and platinum end-products from tungsten ‘seed’ scrap metal
- Speculative analysis of the potential economics of future W –> Au ‘transmutation factories’ for production of precious metals such as gold and platinum suggests that, if present relative price relationship of tungsten vs. gold and platinum were to continue into the future, ‘conversion’ of tungsten into precious metals has the potential to become a highly profitable business activity. If such processes can be scaled-up volume-wise and production costs reduced further by riding the “experience curve,” LENRs might compete with conventional mining within 10 – 15 years.
http://blog.newenergytimes.com/2012/05/21/fascinating-reading-larsens-la...
The lines you see outside the coin shop are nothing more then wealth leaving a country. You ave yet to see a gold bubble. I will sell at 2,000 and 2,500 and the last at 3,000.
I'll start selling my silver at 300.