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Gold Stop Hunt Goes Full Retard
Did a BIS gold trader just spill coffee on his keyboard not once but twice, or did we just have another ye olde algo trick of stopping the hunts (get it?) out of all marginal players? We will never know. What we will know is that paper prices of physical objects are becoming increasingly more meaningless.
It is shaping up to be one of those before one of those weekends as we see FX, equity, and now precious metals markets gapping up and down as if they forgot that you never go full-retard as the rip-and-drip stop hunt round-trips for $14 up and cliff-dive back down. As the world becomes more and more bifurcated by the fail of reality and hope of intervention, liquidity is sucked out of the system from a bid-offer perspective. We can only imagine what FX will be like at the close.
Charts: Bloomberg
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Stay away from the Gold threads Bitchezz!!
My philosophy is that if you are going to go retard, go full retard. Damn the retarded torpedos, full retard ahead.
I'm going to ask that woman to marry me today.
Sometimes going full retard pays off. Just ask George W. Bush, Barack H. Obama, Ben Bernanke, Paul Krugman, etc.
Amazing! The ten year is trading at a yield of 1.59%! And there's a lot more to come during the Greek elections. The market has made a bold statement over the last few months. Namely that US treasuries are the true safe-haven, and that gold is not only NOT a safe-haven, but it is a RISK ASSET.
You're right, gold IS a risk asset. You're risking a hell of a lot if you DON'T OWN IT.
I don't know where this is all going tonight, but I know that in the end, we'll be seeing infinite spreads.
MDB, nothing like negative interest rates in the bond market to hit you upside the head and tell you this is a big mother fucking bubble about to pop.
why have a 'stop' when golds so go?
It is 1939 and we are all Austrians now
Well then, I'll just go throw another shrimp on the barbie!
Nice work...I like it....I like it alot!
http://www.youtube.com/watch?v=_LPRA6MUH_I
Yes, I mean who on earth would not sense the mightiness of the dollar and the underlying economy it's built on!
The yield is NOT a result of a flight to safety. Morons think that.
It's primarily due to chronic over-utilization of the interest rate swaps in place btwn the fed and ECB in the effort to prop up the euro. All at US taxpayer expense. Trillions more in debt that goes on our account
'Cause we're so wealthy and prosperous you see.
m$b, I guess your sarcasm is lost on most folk, but keep up the good work, it really made me laugh.
Some people don't grasp parody??
Is that true?
....taking EVERYTHING literally??
Spooky shit....
Me? I think MDB is a droll muthatrucka...
Cue someone who's not really sure if MDB is satire or not but wants to "hedge" with, "not your best work MDB" 3..2..1...
Fuck Off MDB....
YOUR MOTHER IS A WHORE and YOUR DADDY SUCKS COCKS....
Your mother was a hamster and your father smelled of elder berries.
And must have been conceived in a mistaken experiment when messing with a petri dish!
Any Monty Python reference gets a greeny from me! I jestingly fart in his general direction.
Miffed:-)
MDB is one of ZH's finest. Quiet down.
Can you provide some proof? A link or citiation maybe? Otherwise, SHUT YOUR FUCKING PIEHOLE.
Life is way too long to put up with screeds of the insane. I don't know who MDB is, but I think you went full retard on your reply. QED
MDB is a program
Mr. Bansters: Name calling helps nothing and detracts from any comment you might offer.
Damn right, sir. You are a general in the retarded army.
As a holder of gold and silver physical and stocks, i sadly have to agree that the metals are risky. There is circumstantial evidence that JPMorgan and the Central Banks manipulate prices and can do so virtually indefinitely. We have to deal with current prices the way they are. Since i don't know what asset class will blow up next, I'm forced to accumulate and hold these risky assets as well as other risky assets like stocks, bonds, trust deeds, real estate and treasuries.
You seem to be measuing risk in terms of Fiat and not measuring the risk of Fiat in real asset terms. That's a fatal mistake that will cause you to make unwise decisions.
It is Fiat that carries all the risk because it is created from nothing, backed by nothing and carries the illusion of being stable in value. It is until it isn't. The illusion is physical assets are risky because you are conditioned to view them in Fiat terms.
You have to turn that thinking upside down. View Fiat in hard asset terms and you will see that the risk is all in paper, especially as central banks all must print to oblivion to ward off disaster but the bring disaster by their very existence.
This.
I like to point out a recent example of the game Diablo 3. Diablo 3 just went live with their real money auction house. This auction house allows you to sell virtual "gold pieces" for US dollars. US dollars are directly convertible with a number string representing "gold pieces" accumlated by a video game character controlled by a person. The typical reaction I get is "Wow, that's fucking absurd!", and they would be right to a point, but the real absurdity is that you can then trade in those US dollars for actual, real gold pieces you can hold in your hand. The US dollar is a distribution proxy for converting video game gold into real gold. Blows my fucking mind everytime I think about it.
Boldly stated!
"When you accept money in payment for your effort, you do so only on the conviction that you will exchange it for the product of the effort of others. It is not the moochers or the looters who give value to money. Not an ocean of tears nor all the guns in the world can transform those pieces of paper in your wallet into the bread you will need to survive tomorrow. Those pieces of paper, which should have been gold, are a token of honor – your claim upon the energy of the men who produce. Your wallet is your statement of hope that somewhere in the world around you there are men who will not default on that moral principle which is the root of money..."
Hmm.... my gold bars didn't feel a thing.
Neither did my gold coins.....and....they carry a very special calming effect when held :-)
I prefer mine sewed into my clothing, for that 'all-over' good feeling.
Forget voting for "Gold bug" Ron Paul. I'm voting for Goldmember 2012. That guy fucking loves the shiny barbarous relic. We'd have sound money in no time!
and the return of disco!
Is the label a 'Munger'?
I think MillionDollarBonus just junked us! LOL!
I carry three coins: a Austrian Taler, a Morgan dollar, and a Mexican Onza. It's good to have real money in my pocket.
Recently a cashier at the grocery store saw them while I was getting change. She asked about them so I said what they were...3 ounces of silver. She asked if they were worth anything.
Proof that it's a bubble! Lol
Many times I've ever put a silver coin into someone's hand they've said independently "feels like real money."
My physical is up 113% from purchase three years ago when it was being thrown away by banks and governments. I didn't feel anything either, then again, if owning gold or any PM other than
The sale is on silver now. Once it throws the rock through the 40 dollar window. Then all PM's rise on the short's saving their asses on a valuable and limited commodity. Bad place to be with the infinite loss and all.
I doubt the shorts will be required to cover. Rules will be changed. JPM is TBTF remember?
Right now the value of all the gold in the world is ~8.2T, US GDP is 14.6T, US deficit is 15.7T
Guess we won't be paying the deficit off with gold.
Sure we could... just revalue gold @ $15,000 an ounce and we'd have plenty left over, too.
I think the number is 30k/oz. I think that then backs the paper currency. (Probably low now. I did that calculation a couple years ago so probably has to be 50k/oz now)
Nice markets. Way to go Wall Street! And thank you Ben Bernanke for bailing out all of these sick banks so that we could all live in this wasteland of your creation.
"Market? You keep using that word. I do not think it means what you think it means."
Inconceivable!!!
That should have been MDB!
My name is Raymond K Hessel.
You killed my economy.
Prepare to blathe.
It's a sick world when a guy like Bernanke get Time's Man of the Year. Could there be a bigger fool. Yeah. Cramer and all the dunces on CNBC but you would not expect them to be the Fed chairman. Imagine now fours years later our interest rates are still near zero. Now, without question Bernanke is bailing out and exposing the US tax payer to the mess in the EU with his currency swap lines.
What a total failure Bernanke has been. Will anyone in the financial world call out this joke of a man? The line that things could have been worse is just not a reason to keep the man employed in that role.
Obama got a Nobel Peace prize. That's much better than Bernanke getting Man of the Year.
I forget, was that Peace Prize for the judicious use of drone attacks?
http://static.fjcdn.com/comments/For+you+good+friend+_0a6e3bd1f9d88e1697...
gold..never had much use for it..lol
algo trick of stopping the hunts out of all marginal players?
Hunting the stops out of all marginal players?
pretty sure that's all a market price is nowadays, a stop fleecing bot
-------------
"Release the bots!!!"
Sorry Tyler, I thought it was an error, a Freudian slip, didnt know it was intentional.
Im not a professional trader so would'nt get it anyway.
Thank you.
Play on words re: the Hunt brothers got forced out of their long silver positions by rules changes in the 80s = stopping the Hunts vs today hunting the stops.
Thanks. Appreciate the clarification.
Zee price stability!
You know what they think...poeple who have money to buy gold have too much money!
You, sir, are a fucking GENIUS!
Higher rates of obesity means more fat fingers.
So Bloomer should add 'good for the markets' to his megasoda spiel....
Bernanke is a criminal of the highest magnitude. my only wish is that he gets punished sooner rather than later
Ban HFT!!
What's wrong with high fructose tuna?
Trying to shake out all the longs before a massive weekend revaluation perhaps? ;)
http://www.bullionbaron.com/
Gold and silver is soooo 2011, real pros stack copper.
Shhh don't let them know there are other metals, let them fight for $20 in gold
Except they don't compare to PMs as stores of value. There's a difference between an industrial commodity (which can be a good investment, but it's still a commodity) and a PM.
They out there panic'n right now. i can feel it. They panic'n.
Real pros are stacking hollow points.
I don't know if I'm a pro, but I'm stacking all of the above.
Shelter. Food and water. Living supplies. Personal protection. Copper, silver, and gold coins.
My next purchase is off-grid solar. A stable power source sounds good to me.
I can see your point, but copper is kinda bulky. You need a warehouse for it. Platinum and palladium might be a good bet, if, and it's a big if, the world ever gets back to normal. You might be holding those for a very long time.
Gold and silver have been money for thousands of years. They will continue to be money for the forseeable future.
Whoa! Almost got away from them that time. Don't forget we have to punish gold investors who don't give their money to the Fortune 500 parasites.
Hmmmmmmhhh...
Funny things happen when London and NYMEX are open...
WTF. My Krugs did not move a micrometer...
How about some more price repression ?
Want to buy some more...
Stupid is as stupid does!
Paper gold. What a joke. Why does anyone trade this shite? You think you're going to time it right?
Anyone who uses stops in the PM markets deserves whatever they get.
Why is it that if I print a $100 bill, I go to prison for counterfeiting, yet the Fed prints trillions of them with impunity? Maybe because I'm printing on real paper and the Fed is doing it digitally?
Furthermore, can't Americans sue the Fed for counterfeiting since Nixon ended the gold standard? After all, gold and silver are the only real money according to the Constitution. The moment that gold peg disappointed was the moment that the Fed became the biggest counterfeiting operation in the world.
SeverinSlade:
Wait...you mean the Federal government is breaking the law?
Huh?
I know, right?
Does not compute.
The Federal government never breaks the law, lies, etc. If you believe such lies then you are a crazy conspiracy theorist.
No need to worry here in NH. New 100 store "Premium Outlet" mall opened so now we can buy so called designer products and pretend we are banksters.
What a joke.
The place to go when O'bomb-a send us that $3K stimulus check! That'll get the economy back on track! /sarc
Gold settlement pricing (def.):
A joke, nestled closely to a stinking fish carcass, wrapped in a soiled newspaper on a warm day.
Got Real?
You never go full retard.
HFT computers....they only add liquidity...lol.....crooks..
Yes, nanoseconds of liquidity.
http://www.24hgold.com/english/news-gold-silver-a-few-questions-one-answer.aspx?article=3951126854G10020&redirect=false&contributor=Theodore+Butler
Read this and know WHY the silver market is screwed.
Go GATA go.... now the manipulation is openly discussed at last.
The longer PM's are artificially cheap the more we can all buy.
How f*ckin lucky are we?
Thank you TPTB, don't quite understand your logic, but works well for us all.
i guess you don't mind us contrarians coming along for the ride.
Action-reaction, simple!
Well...
The BenBernanke is part of the BIS team, so...
IMO gold in a consolidation before an advance that should bring it back to the 1750-1800 . silver also appears attractive here on the short term, don't see big downside, feels like a low risk trade here. DAX is close to the end of this recovery phase before it begins to sell-off in earnest. euro looks to me to have an ultimate downside target of below $1.00, needs more time to, maybe a short covering spike first. SPX still feels higher short term although some of the big names CL, PM, T, VZ, KMB HD starting to look real extended, circling the wagons. "May you live in interesting times"-no thanks I'll take the 50's again
People who think of Gold as a trade will get the best value out of it.
Ones who take it as a religion, could be a bit disappointed.
Those who ignore its nature as the best possible money, and as a financial lifeboat in times of monetary upheaval and collapse, will be the most disappointed of all.
The paper Gold market is a farce, it is a con game just like the US banking and stock market are.
The only paper I'm accumulating is toilet paper.
WTSHTF, I'll be ready.
+1 for "hunts", Tyler
I read Harvey Organ...and he post the Gold Comex numbers every day....there is nothing going thru the Dealers accounts....nothing.....but things get settled...and the total Comex holdings never change.....I was not that good in math but this does not add up....I think people, countries, Central banks are taking delivery.....period....bringing it on home if you know what I mean....to me this action is a wild card....there is the actual you have in your hand....there is the paper ETF´s that get played everyday.....then there is the Central banks that play the market...to me the Central banks right now are keeping gold and silver "stable"...so they look better.....if you look at the big moves in the bond markets...that fear trade should be in the gold and silver markets too.....its not...its very calm right now for some reason....and funny as it is..it makes me worried....its like being on your death bed with a terminal disease...and the doctor says "everything is going to be OK"
Gold is down because central banks will print. Not one single trader/banker/economist on earth seriously believes that is possible and yet ...
If we are going to succumb to a religion, Silver is probably the best religion around.
That Gold Cult aint so bad either.
With the spread between silver and gold at around 57:1, I would say silver is the much better buy, and the one whose price is more suppressed at the moment.
Switch from the Globex to the Nymex...happens every day. Also usually means a bank or soveriegn want to make a big buy. Price gets forced down until the transaction is complete...then back up it goes. They need to load up before QE is announced, then it will become too expensive. But the banks will make $$ from the panic buying of the little people.
Man, weren't it for my gold I'd be in the red. When all is on the verge of becoming nice and rosy, I guess I'll sell and bathe in the general prosperity. In the meanwhile, see how this shines, bitchezzz!
the paper price of physical objects becomes more and more meaningless? that is difficult to understand.
then it all comes down to having the physical obect in your possession. but if the paper price of a physical object which has no use is meaningless, one could say that this physical object itself is also meaningless.
for a farm, it's something completely different.
I wonder how many gold silver bashers out there are going to pay north of $2500 and $50 for their first bits of relics.
Silly you, they are never going to pay ANYTHING for gold or silver, because gold/silver bashing, like defending fiat and central banking, is a religion for them, and like all true believers, they would rather die than admit having been wrong.
Just ask Jon Nadler.
Why is China buying the LME not big news today on Zerohedge? I would think metals would be a little more choppy on that announcement.
They bought the Commodity Metals part..................nothing to do with the GOLD or Silver markets.
LME is not in the Au, Aug business.
Iron Ore, Copper,etc,etc is what they bought.................basically for FREE a steal at 2 Billion.
People from every country are accumulating physical PM's everyday in larger and larger quantities, including central banks.
We are taking so many tonne of PM's off the table everyday, that it is just time before the charade is exposed.
Speaking about
deflation vs hyperinflation
and
phys gold vs paper gold vs dollar (in its paper, electronic and treasuries form)
Tyler (and all ZH herd) what do you think about these two articles (from martin armstrong and antal fekete)?
http://www.inflateordie.com/files/Why%20You%20Should%20Buy%20Gold%2006-1...
http://oikonomikablog.wordpress.com/2007/09/30/antal-fekete-can-we-have-...