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Gold Soars As Trading Reopens, Hits $88 Away from $2000
We may have been pessimistic with our assumption that gold would reach $2000 in under a week. At the rate it is going, it may get there tonight: upon reopening, gold immediately soared from just south of $1900, to a new all time higher of $1912 as pent up buying interest took out every offer in the market. This time around silver is not far behind and after many were staunchly pushing shorts around the $44 price, the metal also snapped above the $44 barrier. The only question we have is whether the CME will hike margins before or after gold touches $2000. Since the stop loss orders there are likely quite aggressive, we hope our Comex friends would push gold a little lower before it takes off for its next target 5-digit target. Incidentally, those who are long spam and short gold may want to consider unwinding that trade at this point.
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Coming from you Freddie Krugerand that means a lot!
Bullshit Tyler! I don't remember gold mentioned one time during Mad Max. I think I rather guarantee my survival with 1,000 cans of spam or a 1,000 gallons of napalm at this point!
Mad Max taught alot of us how to rip off a fuel tanker.
Hell you don't need to work that hard these days. Just throw a bucket under a high vehicle and stick a blade.
Is that the BAC of some Keynesian frat boy who drinks every time Bernanke thinks "easing"?
Mountain House freeze dried #10 cans look like a steal at 50 big ass cans of steak for 1 oz of gold? I go for freeze dried over spam so they don't kick the can down the road and all my supplies expire.
Think further back.
Whole city blocks were bought and sold for a few coins of silver and gold back in the 30's
Oh, practice your shooting and skinning. Those hogs will go to waste if you don't pick em off right. Be fast on your shoot too. You have to in order to stay alive.
whole city blocks were bought for $35?
If fondling one's silver is wrong . . . . . . I don't wanna be right.
http://www.youtube.com/watch?v=z-q29hbEP04&feature=related
A silver dollar that is!
"And I've got one more silver dollar,
But I'm not gonna let 'em catch me, no,
Not gonna let 'em catch the Midnight Rider."
The Allman Brothers Band Midnight Riderhttp://www.youtube.com/watch?v=uV7L4suXyAM
Florida boys...dontcha know ;-)
They played at the Wreck Bar in Daytona... in the old days before they became rock stars.
Greg came to a party at my digs one pm... Or am... can't remember. :)
Very cool.
"There ain't no revolution, it's evolution, but every time I'm in Georgia I eat a peach for peace."-- Duane Allman
And when I stopped by Kings Mountain to get a few smokes... as in dozens of cartons....
I look up there and thank the good boys that left the english to rot under the grass as they promised to hold the place forever.
lucky bastard
How cool is that ;-)
Closest I ever got to rub shoulders, literally, was when some guy named Jimmy Buffet walked in off the street past me on TI (other coast, beach bar named Skips, now gone, condo) and asked if he could sit in with the local band...the place broke out in laughter and went friggin nuts...lol.
More Allmans...always loved this one...
http://www.youtube.com/watch?v=22MRGWnPPIU
Excellent... hat tip to Santana!!!
The Wreck Bar is gone too. There is a new Wreck Bar but it's a semi yuppy hang out and bikers that got on the Harley craze.
Iron Horse in Ormond Beach and Boot Hill Saloon in Daytona are still real...
Been to Boot Hill, nice place, but I really had to settle down...really settle down...the lawyer fees were killin me...lol.
I'm gettin that urge again, for a lot of things, me amigo ;-)
Lad, u'n me getting the urge. Exciting times coming, don't cha' know.
p. 472, http://www.abebooks.com/servlet/SearchResults?sts=t&tn=bonnie-sue&x=0&y=0
But, well, there all the kids (not just yourn' nor my'n) to take care of, guide, get on the right path.
Playaz gonna' be needed: had a great discussion w/young skull full of (getting out of the mush)--He's eager, I'm working on prep.
We'll see.
Please take care of you and you'rn.
Interesting times coming.
- Ned
{OT-Translational Lift: these b my crazy helo crowd}
What fucking language are you guys speaking???
You can take the hoe outta the ghetto, but you can't evah take the ghetto outta the hoe.
The language of the good ol boy.
The city folks need the post at the corner to keep them standing, but the country boys get along just fine.
Tell you what.
Buy a few CD's of the Duke Boys and throw your family out and watch it all. By the time they finished spending that 1000 you gave them to scram, you will know all about them Duke Boys and especially the Daisy Dukes.
They dont grow city girls like that these days... all scrawny and underfed.
http://images.search.yahoo.com/images/view;_ylt=A2KJkIV0NlNOuk8AdJCJzbkF;_ylu=X3oDMTA3cnMybzJvBHNsawNpbWc-?back=http%3A%2F%2Fimages.search.yahoo.com%2Fsearch%2Fimages%3Fp%3Dcatherine%2Bbach%2Bdaisy%2Bduke%2Bnow%26n%3D30%26ei%3Dutf-8%26fr%3Dyfp-t-892-s%26fr2%3Dsg-gac%26b%3D169%26tab%3Dorganic&w=300&h=385&imgurl=womendonthavefriends.files.wordpress.com%2F2008%2F12%2Fcatherine_bach_ora.jpg&rurl=http%3A%2F%2Fpicspicspics.co.cc%2Fkeyword%2Fcatherine%2520bach%2520daisy%2520duke%2F&size=22.6+KB&name=catherine+bach+daisy+duke+%7C+PicsDigger&p=catherine+bach+daisy+duke+now&oid=73b727586937f3b6fdf99a889e26b5e0&fr2=sg-gac&fr=yfp-t-892-s&tt=catherine+bach+daisy+duke+%7C+PicsDigger&b=169?=28&no=186&tab=organic&sigr=122p9a45p&sigb=146s6hims&sigi=127bvpdj2&.crumb=iejx67HFbDo
duane's work on the layla album is great...clapton said he wrote the layla signature lick and as an added bonus he made bird noises with his slide on the title track at the end
Get a copy of 'The London Sessions' with Clapton and Howlin Wolf... Live studio sessions with Wolf showing Clapton how to 'come in at the top' on several blues/rock tunes...
Clapton deserves a lot of credit for giving the old blues guys some exposure and helping them make some dough near the end of their careers...
John Lee Hooker also got a boost from various artists recording albums with him plus doing live gigs on tv and concerts... Bonnie Rait and Hooker did some great tunes together covering Hookers old favorites...
I grew up listening to the old blues guys and then had the pleasure of hearing rockers cover their tunes later in life...
Off topic but interesting gab while watching gold in overnite trade... $1904 now...
American Eagle Platinum Proof Coins at US Mint are $2092 Melt price right now $1911.
Moe,@18:55
Platinum would be in the RED now, if the Miners could get their differences ironed out..........there's an artificial shortage because of it.
Actually it will be the Refinery that needs the stuff badly.
I don't do Proof.
I stay in ASE and Gld uncirculated or stamped bar.
http://www.forbes.com/sites/ericjackson/2011/08/22/why-im-short-gold/
yes and he's using the proceeds to buy BAC and JPM
Very tempting, very tempting indeed.
Going short oil in 2008 in the face of PEAK OIL and all alarmists about the world running out of oil, was the trade to make.
Best trade in 2011 will be to short gold if you believe like me that the paper monkeys want to secure their bonuses by year's end.
Way too tempting and way too easy to say "No".
No QE3 and the potential fallout will suck everything into the abyss... making a few very very rich on the right side of the trade.
Is the world ending? No. Is paper money going out of style? Not yet. As long as governments can print and can pretend in collusion, there's no exposure.
If making money was as easy as buying gold from a coin dealer and flipping it with profit to the next guy shortly after, then why not offer subprime loans to assist in the process? LOL
It's all you man. Shorting gold right here is like putting you balls right on the chopping block and rolling the dice (Tarentino style). Sure - it could stall at 2k and fall a few hundred - but it wouldn't take much for it rise another $300 either - all it will take are enough strong hands behind the curtain.
It's monetary policy that is driving gold - not investors' desire to purchase an asset. Keep watching those long bonds. When folks start to dump treasuries - then we'll see the begining of the hyperinflationary scenario.
Citimech,@19:33
Mr. Sinclair said to be ready for $200-$300.00 swings in hours, minutes,a day.................when this puppy hit's overdrive.
Appears we are close,really close.
Gonna take balls of steel to play from here on out.
Clink-clink. Bring it.
Bring it bitch.
If you cannot handle the rough ride, at least down a 6 pack and hold on tight, and quit bitching.
Just do it. We will finish it faster and enjoy it more.
With all the Asks and Bids falling 200 or whatever...
'
there are many butterfly coming out of the cocoon looking pretty, flush and ready to flap.
So gently falls the dollar and such costly weight increases.
China, Russia and the Oil States are fed up with their $US holdings losing value. They are ALL moving into gold - and anything else with tangible long term value. China is buying up mining companies in South America, Australia and Africa, farmland and oil contracts.
Holding paper dollars is a losing proposition for everyone and the smart money is seeking refuge. There aren't enough Swiss Francs, Norwegian Krona, Singapore Dollars, Australian Dolars Canadian Dollars.... name your currency - to sere as a 'safe haven' for the money looking to get out of Euro and $US holdings.... The $US may look good compared to the Euro but both have been pushed out of a plane and have faulty parachutes. The Euro may be falling faster but eventually both are going to hit the ground. The $US was propped up for years by its staatus as the world's 'resere currency' and a policyof mutually assured destruction (support the $US or we bring the world down withus). Well, we screwed the rest of the world and there's no longer any motivation to prop the dollar up - beyond a desire by holders to keep the $US worth SOMETHING for as long as it takes them to spend themon something of real value. That is China's ONLY motivation for not letting the $US completely collapse- they want to get SOMETHING for all the $US they're holdiong.
Gold, oil and other commodities have been manipulated like mad - and quite profitably - with government connivance but it looks like the end game is approaching. Ironically, the attempts to SUPPRESS the price of gold and silver - to make paper money look 'sound' - have only made it possible for the Saudis, Russians, China and others to exchange tehirpaper $US for gold and silver at bargain prices.
Expect serious games - Germany may not be able to get its 'leased' gold back, Libya ius already seeing its gold taken into 'safe custody' while Chavez may find that his gold gets 'lost' at sea during transport - with those tungsten bars on the ocean bottom, he'll have to settle for payment in poaper. But the demand for physical is overwhelming the ability of the paper pushers to manipulate prices. The miners are still getting shorted and suppressed - but you can bet the big boys are buying at every dip. Individual holders are getting whipsawed and told to avoid the'bubble' - or steered into GLD and SLV or other paper holdings. All those hedge fuinds buying gold on the COMEX and storing it in JPM's new vaults at bargain rates may be in for a real shock if they ever want to take delivery (more than a few examples of people who've paid storage fees on allocated metal having problems when they actually want to take delivery and move their gold out of a bullion bank's vaults). Meanwhile the smart money is stocking up on physical.
The manipulation going on seems to be designed to allow the really rich to suck up as much 'real' wealth as possible- be it gold, metal in the ground (AU,AG, CU, etc) or oil and gas. The ignorant/desperate selling off their gold and silver will find themselves in even worse shape when their paper savings (if they have any) and paper paychecks turn out to have no buying power. You can't sell all your accumulated crap on eBay or in tag sales if EVERYBODY is doing the same and nobody has any 'money' to buy.
A final crash and burn of the current financial system will leave a VERY few people holding assets with real value. At that point when people are scrambling for gold, you'll see serious wealth converting their gold into land and other assets - bought at rock bottom prices.
Either that or Bix Weir is right and this is a deliberate crash to burn the bankers and do a system 'reset' - but I think he's being delusionally optimistic in thinking there's rhyme and reason to this meltdown. Pure greed and incompetence seem to be the driving factors with a few planning ahead to profit from the chaos they have caused.
the mass shorting of miners, may actually force them to sell future production to generate operating capitol, as their ability to issue new shares, is impaired, by the suppressed stock price.
Perfectly logical reasons to short paper gold. Longs will scoff, but if you're playing the paper game, these are good reasons to lighten-up on paper. Those holding the physical, of course, should BTFD.
If things play out as expected, paper gold (like GLD and many 'allocated accounts') may be in real trouble - not there or with multiple claims. In that case paper gold will tank in value while physical (in safe storage) will INCREASE in value.
There's real gold - assayed physical under your personal control - and than there's 'pretend' gold - paper holdings that 'represent' physical - be it ETF's or holdings elsewhere. With all the games being played, who knows what's 'real' and what's not - what HAS real value and what does not?
No One is short gold? What fucking planet does that guy live on???
I hope he remains true to his convictions for another 600 or so and then gets margin called at say 2600 resulting a market buy order
What margin?
All cash and physical.
Everything else was a faked orgasm. Dontcha know?
Qaddafi will be killed this week, thus boosting the dollar.
Or Crazy Q throws a few scuds and wastes Tripoli in slime and chem attack.
It would not bother him one moment to do that.
Tyler, when this thing hits 2000, you must have a "2000 Bitchez" headline.. it's a must damn it, a must
and the deer in lights pic has got to be on that. If we can get Keanu to say "bogus" in his Matrix togs along with it, that is epic mark-out moment
+1, definitely need the deer in headlights ...
Talking heads yapping about 2000 by christmas this year.
Hooey.
The day after 2000 will be the bid and the asks will go to 24 and 3.
Does anybody know what Roubini meant by "spam" when he was arguing with Tyler on twitter the other day?
I didn't really follow the point that Roubini was trying to make with "spam".
From S&A Digest- The market cap of SPDR Gold Trust (GLD) hit $76.7 billion on August 19. The same day, the SPDR S&P 500 Fund (SPY) – which has been the industry's largest ETF since 1993 – had a market cap of $74.4 billion… 3.1% smaller. At the beginning of the year, the S&P 500 fund was 56% larger.
GLD LOST over 6 tonnes of gold today on a day when the price was UP 2.8% So... were the priviledged holders cashing out soem of their baskets - taking delivery of physical - today?
The prospectus for GLD has loopholes you could drive a dump truck full of bullion through....... no guarantees they hold what they think they're holding, no assays, limited audits, substantial risk..... and ONLY the big shareholders have the right to cash out their shares for physical bullion and only in 'basket' amounts.
GLD is a perfect way to divert money away from physical purchases by the 'little guy' - while leaving the big bullion banks holding large amounts of physical. It's a fine vehile for trading but don't count on it actually having what it says - and be sure you have an exit strategy if the charade blows up.
China, among others, have been using etfs to buy paper and then take physical possession...
China is 'getting PMs under the radar' and the etf route is a good one for that purpose...
silver
44.08 $ per
forty five
by friday ..
No bet. After Ben speaks it will be even either way up or down.
The World will be glued watching for one tic, one quivering lip or a PAU SE.... to certain things as he speaks. Even being pink to pale matters.
The world depends on it friday.
Otherwise shave your face in the pile instead of the mirrior and go to sleep. The sandman aint strong enough to carry that away.
I want to buy gold and silver so badly now. However usually when I do the opposite of what I want I make money. Unfortunately I can't figure out if not buying gold is doing the opposite of what I want to do or the opposite of the opposite of what I want to do. Reverse reverse psychology means I should do one more reverse? It is so hard to buy at the top of the bollinger band with the RSI so high. However I don't think it is wise to short, which means it probably is.
I am so fucking confused.
U.S. Dollar: the ultimate in counterparty risk. PS bought 30 ounces the week before last, pamp bars. Cannot wait for delivery. If the EMU implodes (and it will), gold will be a major safe haven.
Let go of your feelings Luke.
You know chicken salad is not the opposite of tuna, salmon is the opposite of tuna, 'cos salmon swim against the current, and the tuna swim with it.
Today salmon climb dams.
Dam is that a long way up.
Buy low sell high.
It's easy. No confusion.
Whether you like it or not, gold is high. The definition of high and low seems to confuse people, but things are always high or low relative to something else...
Buy platinum or silver, or gold stocks instead and trade into gold when it corrects, or they'll catch up anyway. Watch the pt & ag to au ratios. They are low in comparison. It's all relative.
Nah, screw it, buy high sell higher.
Buy metals and exchange for other assets when they tank in value.... Assets move in different cycles. Gold and other 'safe haven' holdings are increasing in value. Equities are on a roller coaster ride while real estate has tanked and may go even lower.
Bonds? who know? Holders are powerful and will fight to prevent defaults but sometimes you run out of options......
Personally, I'm going with alcohol, ammo and canned goods ;)..... and distilling equipment.
They are gonna do it too. I have not seen the Bids as I see tonight since silver broke 35 on the way to 50.
The coffin corner is around 50. But it should be something like 250 or more.
You are obviously wanting to buy gold and silver for all the wrong reasons. You might wanna get some info about the case for gold before going in. Will help clear your mind. Just sayin.
Stand aside for now. Make sure you have food and water in storage first. Then average in regardless of price over time. Good luck.
Troll
if you are one of the few albanians with some actual cash to even contemplate purchaseing with, then do it and quit thinking like a trader. Silver has been at 50 so 44 is still low
Forget the goddamn daytrade.
Buy the stuff store it in a closet with your food, guns and ammuntiion. And KEEP your mouth shut in real life about it. They already know about your transaction anyway.
Silver needs to be at least 60$...
I think it will go through 50 this time. However there is likely to be another downdraft if the fact no qe3 will be announced is not already priced in.
I think 50 was an artificial top. Silver was run up by the cabal to create better shorting conditions. 50 was unnatural and that is why I am becoming distrudstful of charts. I have also seen technical points being broken only to reverse once the tech's traded the breakout.
This market is about fundamentals now.
It doesn't need to be anything of the sort, but that'd be fine.
While I do think silver is going to pop hard sooner or later, it has only briefly dropped below 40:1 with gold in the last forty years, and your conviction doesn't actually matter. The other people buying are likely looking at those charts, and bidding accordingly. As of right now, the ratio is 44:1, and taking it to 40:1 only leads to a spot price of around $47.50.
Yes, way back in olden times, the ratio was about 16:1, but that's not necessarily a reasonable target. My guess is that it's more likely that gold could break out even more, and jack the ratio up to 60:1 or 80:1, and that'd be a hell of a good time to trade gold in for silver, and wait for the ratio to drop again. Or, silver could continue to perform well when gold cools down, and it's a fine trade all by itself.
In the case of apocalypse, all bets are off- but in the off chance that the world doesn't end next Tuesday at noon, it's not a bad idea to keep your head here. What I'm looking at on my records is that I beat my 401(k) performance by 20% in the last four months, and that's a hell of a nice win for me. Lots of others who bought paper on margin in April got their heads taken off at the neck.
All these growing numbers are price as denominated in paper currency, and we're in a period of severe inflation. I track against other commodities, and all these crazy looking moves are really not that extreme. Gold and silver are in bull markets, and doing well, but they're not exponential, parabolic, hyperbolic or anything else- they're just doggedly climbing the stairs when compared to things like oil and wheat.
Once the market crashes, as I am certain it will, the PMs are going back into stocks or real estate- barring the case of absolute Mad Max-esque collapse, in which case, the PMs will be about as useful as a third nipple anyhow. Forget the dollars, and look at the ratios- they are telling the real value story, and it's not as exciting as it seems.
Though I'll admit, it is fun to speculate about the end of days, and gratifying to see the dollar values shoot up on trades, my real "hedge" is still food storage and ammo- things I can use if I lose my job, or the currency collapses. Silver is a trade, taken on because my retirement fund was being grossly mismanaged, and gold should be the same thing for most- for the most part, they just guard against inflation, and don't do much else. They're undervalued right now, so it's a good, cheap investment.
Of course, I still reserve my right to have a few drinks and rant with everyone else about war games and hanging banksters- that is, after all, what makes this site so much more interesting than other financial news sources.
*As Bob Barker*
No! HIGHER!
Bernankenstein has to be tearing out the patches of hair on the sides of his head. The sheer horror of the barberous relics rocketing north. I don't even think we're seeing true fear yet. Could you imagine if the average American Idol sheep decide to bombard the local pawn shop, coin dealer? I'm already seeing raids at a few of the good local shops with low premium. Physical market is so tight already....
You know, Tim Geithner doesn't have any eyebrows. What's weirder is the fact that Dick Cheney doesn't have a pulse. Swear to God.
Also weird -- the spell checker suggests Generosity in place of Geithner.
Dick Cheney: no heart = no pulse
People without Pulse are dead.
Living on borrowed time. Pump or not.
I don't think either one did a day's lift of gold or silver. Maybe a few coins jingling in thier pockets as a kid at the soda jerk counter.
(A cookie for you old fucks who know what that is.)
I remember having a "real" cherry coke downtown in Denver when I was a kid -- make my cookie oatmeal walnut-raisin!
Broker fees $2500K
Capital gains 12000K
HFTs losses 15000K
Xtra Accounting 300.
Five figures a week, not breaking a sweat and sleeping at night owning physical PMs -------- Priceless.
The oil/gold ratio is going to soar- Libya conquered by NWO means cheap(ish) oil, (fer a minnit) while Spanish Banker's Flu pandemic will destroy banking system as we know it, the flu-like symptoms include a yellow, golden tinge.... Just remember, (preppers) you will spend it way faster than you saved it. No matter how you slice it, you get 3 score n' 10, gold or not, and, maybe, with gold, you'll end up with less. Buy something useful (anvils are 3$/lb) when the ratios peak, until then, "To the moon"!
I truly believe that the recent surge has been brought about as the gold vaults scramble to deliver Venezuela's goods. It makes perfect sense that prior to the announcement they were just trading paper as usual. Now all of the sudden...a 200 dollar surge. Fuck yea. They are scrambling- trying to unwind, buy, and deliver.
You forget that the "scramble" for physical gold to deliver to Venezuela's demands is having a positive side effect to the price of paper gold.
It's a paper game any way you slice it. FWIW, I haven't heard Chavez personally asking for the gold to be returned. Could be a ruse to drive up gold higher.
Paper shares will burn. Metal will require much more of a inferno.
More to do with the diminishing attraction of the Swissie, IMO.
Dear Crimex, please increase margin requirements, I need to BTFD.
Dear Hong Kong, Sell fast, sell cheap so that Crimex don't matter.
Treat your Klingons from Uranus to a smiling picture of ben Franklin for that "sparkly cheap clean" look. Invest in copper, lead, brass, sulphur, potassium nitrate, and charcoal. Put them together, and, presto! Munitions for your personal defense favorite leg iron! Second recipe starts with ammonium nitrate, diesel oil, and fulminate of mercury. Add steel ball bearings, stir thoroughly, and voila! I'm going long on Home made Claymores, bitchez !
You sound like a CIA operative.
Hi DHS!
So how much does gold have to rise for JPMorgan to go bankrupt?
And on CNBC today, I saw an interview with commodities traders on the trading floor... and they were saying that every trader wanted PHYSICAL DELIVERY... they didn't want no paper gold no more...
The end of those SOB approaches.
WTF you are talking about? Since when "Traders" want physical
delivery. And for what purpose? To tight working capital up?
Traders hitting buy and sell buttons 15 times a
day. What are you saying, delivery track keep driving back
and forth with real Gold? Go back to sleep, your 1oz of GOLD
won't make you rich anyways at any price.
I buy physical and only physical.
It arrives via us post registered and no other method.
An armored truck does not condescend to drive in our neighborhood anyway. I like it quiet where I am.
I use many small quanitities spread across time to schedule delivery. The Post office don't even bat an eye anymore.
JPM Morgan will not go bankrupt. Like Bank of America they are part owners of the privately held federal reserve.
I witnessed the same interview. It was Fox Business News "on" the trading floor of the CME, in the middle of the open cryout (he was wearing a cow skin patterned jacket - anybody know what firm that is?) anyway, he said that the options traders are not selling their contracts and that everyone is hunting for physical gold and selling paper based assets. Same as 500 said above.
Big short paper hammer on Gold as I write this. $1993.82
If Au falls to 1800/1900 after 2k - then if may stall for a bit - but if it it blows through 2k and drives right to 2100 - then watch-out - it's going to be time for some serious fireworks.
Let's see what the Bernank says at Jackmyhole - that could be the starting gun for the real moon-shot.
"Event" anyone?
PS Any more news on BAC and GS?
Yeah, what's happening on GS. Got lucky and put down a nice little put on GS last week. Don't know how long I should run with it. Blankypoo may be in trouble, but since the government = GS, can't press my luck.
When Ben stops twitching, Lip twisting and other tics by this friday, the medication will be adjusted so he will speak well without none of the tell tale signs.
Thursday they have him scheduled in the old Michael Jackson Hyperbaraic chamber to flood with o2 to ensure no tremors when Ben speaks friday. And no pale allowed. All hale and pink he will be.
Gt a day off and be ready to react to the tape when it starts to flow one way or the other right after Ben speaks.
A good dose of CO will make you bright pink -- just sayin'.
Keep pumping.. This penny stock setting up for
"back to reality" times.. 2k probably the target same
as $50 for Silver few month back.
"Five figures a week, not breaking a sweat and sleeping at night owning physical PMs -------- Priceless."
Did you sold? Probably not, so it's pointless to count profits
especially in USD terms, seems you all hate paper.
You was asking for it, you got it, Parabolic move, look for
$1600 after hitting $2k and count your profits backwards..
"Count your profits backwards" ...... er, not so much. Got in long time ago. If it has a correction, I can take it, as ever. Happened with paper, too, you know. I wish you had been around before, I tried to tell you to buy gold. I tried to tell others, but you wouldn't listen.
When gold hit $750, You all insisted it was in a bubble and too expensive. You said the same thing at $1100. You said the same thing at $1500. And the same people are still saying the same thing now, just like you.
Thing is, the paper money system is dying and everybody who understands that is looking for safe havens, such as gold. The worlds reserve currency is a fiat currency and that country is hopelessly insolvent. So, what do you think is going to happen next in that movie?
The gold price has been artificially suppressed for a very long time, to keep it from competing with fiat currencies. Now, the market will not be denied, gold is merely going to it's market discovery price at a rapid pace to catch back up where it belongs.
The inflation adjusted high for gold is actually $2400, so we're not even close to the 1981 high, in real terms, and we're in a lot worse economic shape now.
I'll try it one more time -- do yourself a favor, and at least put 5% of your assets into physical gold or silver. Dollar cost average, whatever you wish, just do it. It's not too late.
(Look up the recent currency crises of Argentina, Mexico, Russia, Sweden, Belarus, and Iceland. Take your pick. )
No counter party risk Bitchez! Its the stuff of pleasant dreams...
Own land and you can lose it to unpaid taxes........ happened to lots of poeple in the 1930's
Owned Farm land is the original reason I got into PM's years ago...
General question for the bitchez:
When margins are raised on gold and if the price falls, what do you think will happen to silver (short term) this time?
nothing, coz this is all cash purchases... LOLz
Margin does not count.
Cash and wire is king.
less effect on both gold/silver each time. just shakes out the day traders with leverage but no pockets
Anyone still trading metals after May not only expect margin increases they are prepared for them. They fucked themselves doing 5 rapid margin changes in an obvious manipulation ploy. Margins can be completely eliminated turning the trade into a 100% pay to play game.
Lets see, bankers with an excuse to short silver..
double exponential bitchexps.
the Midas touch.
Anyone doing metals bought gold between $350.00, and $1100.00. Silver? Between 8.00 and $21.00. And, they aren't worried about what the price corrects back to. Who gives a fuck? Paper, or metal, that is the question, period. Hear that sucking sound? It ain't your girlfriend gargling salami - it is the market toilet flushing on Friday.
Ohya. 200 and 8 for me in those days. Only I did not know better. Plowed money into the ficitious 401 k that I could not touch in anyway until I was discharged with a valid reason... ech.
I knew better at 300-400 gold and it was pretty stiff, a paycheck in those days and then some. 2000 today? Why not 20K 10 years from now?
Is that in Zimbabwae dollars or in some other form?
Correction... they would be selling gold by the gram otherwise the people would not be able to participate. Those old CPU's and exhaust converters will be quite valuable someday.
A margin hike could mean another short squeeze as shorts are forced to cover as they scramble for margin.
They call me Barbarous
I collect relics...
we call u digalert
wonder which country will be next to nationalize gold ?
my guess would be iran
If fiat keeps fleeing into Gold and it continues going parabolic, it is a strong signal the crack up boom is at hand. This is now sparks over black powder.
MethodMan from Mish's old board?
Where ya been dude?
23 March 2000 -- 'NASDAQ futures soar as trading re-opens; hits 88 points way from 5,000!'
yes and its previous 3 months being up 60%
"we hope our Comex friends would push gold a little lower before it takes off for its next target 5-digit target"
I like the sound of that.
Just curious... who else here believes that with the economic forces now involved, gold could make its push with no more serious correction?
I am afraid the deminati will trash gold just prior to 2000 as they did for silver at $49.82 on Sunday night 5/1/11?
suck on that dick!!!!!
lets get back to the good old days of the barter system.............
Can't wait to see the COT this weekend. 30k dropped off the shorts two weeks ago. If this thing we are seeing now has any legs, we may see 150k drop off by this weekend. The bankers are truly puking up blood and lung material now...
There's a sign on the wall, but she wants to be sure, because sometimes words have two meanings....Yes it makes me wonder.
http://www.youtube.com/watch?v=ugxFcmZXDyc&feature=related
amidst all the hoopla, backslapping, and exultation that the so-called rise in gold prices evokes among the more informed and prescient amongst us, it is worth calling to mind that this inert element remains as it always was and has been. what is perhaps more important is to actually listen what the golden canary is singing about. it would be immensely gratifying to suppose that the acquisitive accumulation of the shiny yellow metal is the penultimate solution to the all encompassing corruption and degeneration of an all but moribund social order and the accompanying pervasive debasement of world currencies. yet the real measure of successful adaptation to the catastrophic upheavals which are convulsing this present world are far more complex. do you presently abide in an urban center in the USA? if so, you might consider establishing a well thought out plan for an exit strategy. If this is impossible, and it will certainly be a highly unlikely option for the great majority, you might consider increased efforts at personal domestic security and devote immediate attention to the acquisition and storage of water and non perishable food. appropriate firearms and an adequate store of ammunition and a back up generator feeding an auxiliary electrical sub panel will be critical. ultimately it will not be so much what you possess, though many things are of course an unavoidable necessity, but who you are because we are presently entering an altogether new era where individual responsibility, creative capability, and foresight will not only be paramount but will be critical to survival. Perhaps in many cases that itself will come up far short.
actually gold's rise is realative. there is a reason the M3 isn't publicized anymore. in 1969 my buddy and i one day were talkin bout how we were gonna get $40 for our class rings-(gold was $35oz). since then our 8000 tons of gold has remained unchanged but we have increased the floating currency 15 fold to an ESTIMATED 3 trillion in floating paper fiat. maybe only now will i ever be able to thank HUGO CHAVEZ for pulling down the paper curtain and then damn him for what will follow....
8000 tons = 192 Million troy ounces. My head hurts...
2000 dollars times head pain = $384 followed by 9 zeros. 384 BILLION?
Suppose... 10,000 dollars per ounce times migraine... 1912 followed by 10 zeros. 1.912 TRILLION dollars?
Suppose *** Injects Demerol and Versed so I dont remember this experience** 50,000 dollar gold as once discussed in ZH.
96 followed by 11 zeros. 9.6 Trillion dollars.
That would pay off some of our deficeit wont it?
If we double this 8000 ton holding via war or other really aggressive BUYING we should be able to retire the entire current national debt and put a few trillion cash into the treasury right?
I would like to find two loose gold eagle coins at 50K each to assure a self reliant living forever which is decreasing the longer I live in this life.
Good point...
Exponential gold is a very bad sign.
As gold surges to $2,000 here’s a list of famous events by the numbers to reflect on along the way. Obviously the list could be longer but there won’t be enough time to write them all down.
$1912 – Titanic Sinks
$1929 – Stock market crash
$1937 – Hindenburg Explodes
$1945 – Atom bombs dropped on Hiroshima and Nagasaki
$1963 – President Kennedy Assassinated
$1977 - Elvis dies
$1981 - AIDS epidemic begins
$1986 – Chernobyl Nuke Disaster
$1999 – Y2K scare peaks, many turn to Oprah for guidance.
1913 - Federal Reserve Act passes depleted Congress
1995 - Government blows up its own building in OKC
2001 - Government blows up three buildings in downtown NYC
1971 Aug 15th Nixon's Executive Order to "transitorily" end dollar to gold convertibility.
I am looking forward seeing the birthyear of everyone alive today come and go.
Y2K was irrevelant. I was still collecting pay via western union telegraph and we had no fancy electronics beyond a regular color tv driven by vacumn tube in those days. Not a computer anywhere.
Tyler, Have you read the latest from Martin Armstrong?
How about doing a piece on his latest?
The Rise and Fall of the Euro http://www.10sigma.com/files/Rise%20and%20Fall%20of%20the%20Euro%2008-21-2011.pdfGold parabolic? More like the flipside of the USD going asymptotic with the X-axis.
A $20 St. Gaudens US gold coin will cost you about 100 times that today.
This illustrates that the FRN has lost 99% of it's value vs gold
If you want to do the same excercise with say a Morgan, it's about 97.5%.
Im long spam and long gold, so think Im hedged...
Gold over platinum for the first time since?
http://imgur.com/m7VkS
It's done that a few times this year. Briefly.
Blink when watching Kitco and you lose.
How can anyone with half a brain think that gold is in a bubble. Do they not read, listen or speak to anyone on the planet. What is a bubble? When something with no value is bid up to ridiculous extremes. We all know exactly what is going on so I am not going to list all the facts. Sure, it looks vulnerable on the charts, too steep and way outside its channel and way above the 200dma. So at some point a correction, you bet and maybe a real one. But a bubble, not even worth commenting over.
Remember the 3 stooges: Obama, Bernank and Geithner. Then tell me you are going to sell your gold. I mean the president of the free world calls Buffet for advice. What more evidence do you need. Do wish I had more physical, kept waiting for a dump since 1,500 and it never happened.
And how about those miners today guys. We had a good day for a change. Lets see if we have follow thru tomorrow.
One thing I have been considering is the 'natural limits' which eventually bring all bubbles down. The physical or financial constraints which put a relative upper limit on price and then act as a prick to pop the bubble.
For example corn. You can drive that up a few hundred percent but in the end people will just plant more next year and so your supply blossoms and prices correct, sometimes severely.
Well, Gold on the supply side you maybe get an additional 2% added to above ground inventories per annum. And there is about 165,000,000,000 grams in that pool of supply. That may seem like a lot. But compare that with the quantity of all fiat currencies (digital as well as paper) and you can see that even at $2000 per 31.1 gram troy ounce we're just starting to get into the territory of appropriate pricing.
Add to that the fiat currenices are being inflated (quantity) in an attempt to wash out the nominal debts of the world, AND that most of that above ground gold pool is really not going to be sold at any price, so is out of play...
... and that gold is now sought as a valuable national treasure, compared to being sold as a "barbarous relic" ( Ven is not the only nation considering this move, BTW)...
If any thing gold is actually recovering from a severe multi decade mugging. Its gotten out of the hospital and gone to the gymn. Its build up its strength and is taking martial arts training...
...and it is going to kick some serious bankster bootie as pay back for its prior undeserved treatments.
"You have disgraced the Shaolin temple." -- Bruce Lee
Hey guys
Sorry to be such a N00b, but can anyone point me to a site that shows how much money was given to the banks, vs how much has been paid back?
Some idiots on another site are saying the banks have paid back all the trillions they "borrowed" and that the banks are now free of FED debt.
Thanks for the help- you guys rock!
You will have to go all the way back to the crash in the early 1900's and move towards the Carter administration and go from there.
I suspect much of it is imaginary binary 00000000 to 11111111 multiplied many times over.
Anyone want to bet that the ship holding Chavez's gold goes doen in a sudden storm? In a DEEP part of the Atlantic...... where it would be VERY VERY difficult to retreive all those tungstern... oops... 'gold' bars.....
I'll also perdict that Libya's gold is sent for 'safekeeping' to London - where it can also be used as collateral for all the loans needed to rebuild destroyed infrastructure (with funds paid to US and European construction companies....) and that US and European oil companies will have Libya's oil production back on line in record time.
Whoops. So solly, junkjunk all sunk.
That would mean war.