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Gold Stop Hunt Goes Full Retard

Tyler Durden's picture





 

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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Fri, 06/15/2012 - 09:05 | Link to Comment LULZBank
LULZBank's picture

Stay away from the Gold threads Bitchezz!!

Fri, 06/15/2012 - 09:16 | Link to Comment BandGap
BandGap's picture

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.

Fri, 06/15/2012 - 09:21 | Link to Comment SeverinSlade
SeverinSlade's picture

Sometimes going full retard pays off.  Just ask George W. Bush, Barack H. Obama, Ben Bernanke, Paul Krugman, etc. 

Fri, 06/15/2012 - 09:23 | Link to Comment MillionDollarBonus_
MillionDollarBonus_'s picture

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.

Fri, 06/15/2012 - 09:25 | Link to Comment SeverinSlade
SeverinSlade's picture

You're right, gold IS a risk asset.  You're risking a hell of a lot if you DON'T OWN IT.

Fri, 06/15/2012 - 09:47 | Link to Comment malikai
malikai's picture

I don't know where this is all going tonight, but I know that in the end, we'll be seeing infinite spreads.

Fri, 06/15/2012 - 09:49 | Link to Comment economics9698
economics9698's picture

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.

Fri, 06/15/2012 - 09:52 | Link to Comment strannick
strannick's picture

why have a 'stop' when golds so go?

It is 1939 and we are all Austrians now

Fri, 06/15/2012 - 10:32 | Link to Comment RafterManFMJ
RafterManFMJ's picture

Well then, I'll just go throw another shrimp on the barbie!

Fri, 06/15/2012 - 10:38 | Link to Comment AgShaman
AgShaman's picture

Nice work...I like it....I like it alot!

http://www.youtube.com/watch?v=_LPRA6MUH_I

Fri, 06/15/2012 - 09:38 | Link to Comment ArrestBobRubin
ArrestBobRubin's picture

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.

Fri, 06/15/2012 - 09:44 | Link to Comment No Euros please...
No Euros please we're British's picture

m$b, I guess your sarcasm is lost on most folk, but keep up the good work, it really made me laugh.

Fri, 06/15/2012 - 12:17 | Link to Comment Bananamerican
Bananamerican's picture

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...

Fri, 06/15/2012 - 09:52 | Link to Comment Bansters-in-my-...
Bansters-in-my- feces's picture

Fuck Off MDB....

YOUR MOTHER IS A WHORE and YOUR DADDY SUCKS COCKS....

Fri, 06/15/2012 - 09:55 | Link to Comment CPL
CPL's picture

Your mother was a hamster and your father smelled of elder berries.

Fri, 06/15/2012 - 10:07 | Link to Comment tocointhephrase
tocointhephrase's picture

And must have been conceived in a mistaken experiment when messing with a petri dish!

Fri, 06/15/2012 - 13:06 | Link to Comment Miffed Microbio...
Miffed Microbiologist's picture

Any Monty Python reference gets a greeny from me! I jestingly fart in his general direction.

Miffed:-)

Fri, 06/15/2012 - 10:26 | Link to Comment BKbroiler
BKbroiler's picture

MDB is one of ZH's finest.  Quiet down.

Fri, 06/15/2012 - 10:55 | Link to Comment Raymond K Hessel
Raymond K Hessel's picture

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

Fri, 06/15/2012 - 11:51 | Link to Comment Jack Sheet
Jack Sheet's picture

MDB is a program

Fri, 06/15/2012 - 11:11 | Link to Comment TheCanimal
TheCanimal's picture

Mr. Bansters:  Name calling helps nothing and detracts from any comment you might offer.

Fri, 06/15/2012 - 10:50 | Link to Comment BandGap
BandGap's picture

Damn right, sir. You are a general in the retarded army.

Fri, 06/15/2012 - 11:10 | Link to Comment TheCanimal
TheCanimal's picture

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.

Fri, 06/15/2012 - 11:41 | Link to Comment ATM
ATM's picture

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.

Fri, 06/15/2012 - 15:41 | Link to Comment Panafrican Funk...
Panafrican Funktron Robot's picture

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.  

Fri, 06/15/2012 - 12:35 | Link to Comment akak
akak's picture

Boldly stated!

Fri, 06/15/2012 - 12:47 | Link to Comment LostAtSea
LostAtSea's picture

"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..."

Fri, 06/15/2012 - 09:03 | Link to Comment Ray1968
Ray1968's picture

Hmm.... my gold bars didn't feel a thing.

Fri, 06/15/2012 - 09:07 | Link to Comment GubbermintWorker
GubbermintWorker's picture

Neither did my gold coins.....and....they carry a very special calming effect when held :-)

Fri, 06/15/2012 - 09:11 | Link to Comment CommunityStandard
CommunityStandard's picture

I prefer mine sewed into my clothing, for that 'all-over' good feeling.

Fri, 06/15/2012 - 09:18 | Link to Comment SeverinSlade
SeverinSlade's picture

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!

Fri, 06/15/2012 - 10:57 | Link to Comment viahj
viahj's picture

and the return of disco!

Fri, 06/15/2012 - 09:21 | Link to Comment tocointhephrase
tocointhephrase's picture

Is the label a 'Munger'?

Fri, 06/15/2012 - 09:42 | Link to Comment GubbermintWorker
GubbermintWorker's picture

I think MillionDollarBonus just junked us! LOL!

Fri, 06/15/2012 - 10:01 | Link to Comment IAmNotMark
IAmNotMark's picture

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.

Fri, 06/15/2012 - 11:42 | Link to Comment ATM
ATM's picture

Proof that it's a bubble! Lol

Fri, 06/15/2012 - 12:02 | Link to Comment Temporalist
Temporalist's picture

Many times I've ever put a silver coin into someone's hand they've said independently "feels like real money."

Fri, 06/15/2012 - 10:11 | Link to Comment CPL
CPL's picture

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.

Sat, 06/16/2012 - 00:15 | Link to Comment Unique Snowflake
Unique Snowflake's picture

I doubt the shorts will be required to cover. Rules will be changed. JPM is TBTF remember?

Fri, 06/15/2012 - 09:58 | Link to Comment eclectic syncretist
eclectic syncretist's picture

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.

Fri, 06/15/2012 - 10:40 | Link to Comment BigJim
BigJim's picture

Sure we could... just revalue gold @ $15,000 an ounce and we'd have plenty left over, too.

Fri, 06/15/2012 - 11:44 | Link to Comment ATM
ATM's picture

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)

Fri, 06/15/2012 - 09:04 | Link to Comment Cdad
Cdad's picture

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. 

Fri, 06/15/2012 - 09:11 | Link to Comment HelluvaEngineer
HelluvaEngineer's picture

"Market?  You keep using that word. I do not think it means what you think it means."

Fri, 06/15/2012 - 09:51 | Link to Comment ghengis86
ghengis86's picture

Inconceivable!!!

Fri, 06/15/2012 - 10:08 | Link to Comment tocointhephrase
tocointhephrase's picture

That should have been MDB!

Fri, 06/15/2012 - 10:57 | Link to Comment Raymond K Hessel
Raymond K Hessel's picture

My name is Raymond K Hessel.

You killed my economy.

Prepare to blathe.

Fri, 06/15/2012 - 09:17 | Link to Comment Everybodys All ...
Everybodys All American's picture

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.

Fri, 06/15/2012 - 10:04 | Link to Comment IAmNotMark
IAmNotMark's picture

Obama got a Nobel Peace prize.  That's much better than Bernanke getting Man of the Year.

 

Fri, 06/15/2012 - 11:46 | Link to Comment ATM
ATM's picture

I forget, was that Peace Prize for the judicious use of drone attacks?

Fri, 06/15/2012 - 09:06 | Link to Comment mrktwtch2
mrktwtch2's picture

gold..never had much use for it..lol

Fri, 06/15/2012 - 09:06 | Link to Comment LULZBank
LULZBank's picture

algo trick of stopping the hunts out of all marginal players?

Hunting the stops out of all marginal players?

Fri, 06/15/2012 - 09:09 | Link to Comment Zero Govt
Zero Govt's picture

pretty sure that's all a market price is nowadays, a stop fleecing bot

Fri, 06/15/2012 - 09:27 | Link to Comment Jolly.Roger
Jolly.Roger's picture

-------------

Fri, 06/15/2012 - 09:18 | Link to Comment Jim in MN
Jim in MN's picture

"Release the bots!!!"

Fri, 06/15/2012 - 09:18 | Link to Comment LULZBank
LULZBank's picture

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.

Fri, 06/15/2012 - 10:41 | Link to Comment Diogenes
Diogenes's picture

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.

Fri, 06/15/2012 - 11:06 | Link to Comment LULZBank
LULZBank's picture

Thanks. Appreciate the clarification.

Fri, 06/15/2012 - 09:06 | Link to Comment fuu
fuu's picture

Zee price stability!

Fri, 06/15/2012 - 09:07 | Link to Comment Splootch
Splootch's picture

You know what they think...poeple who have money to buy gold have too much money!

Fri, 06/15/2012 - 10:58 | Link to Comment Raymond K Hessel
Raymond K Hessel's picture

You, sir, are a fucking GENIUS!

Fri, 06/15/2012 - 09:08 | Link to Comment CommunityStandard
CommunityStandard's picture

Higher rates of obesity means more fat fingers.

Fri, 06/15/2012 - 09:17 | Link to Comment Jim in MN
Jim in MN's picture

So Bloomer should add 'good for the markets' to his megasoda spiel....

Fri, 06/15/2012 - 09:08 | Link to Comment Zola
Zola's picture

Bernanke is a criminal of the highest magnitude.  my only wish is that he gets punished sooner rather than later

Fri, 06/15/2012 - 09:08 | Link to Comment lolmao500
lolmao500's picture

Ban HFT!!

Fri, 06/15/2012 - 12:41 | Link to Comment akak
akak's picture

What's wrong with high fructose tuna?

Fri, 06/15/2012 - 09:08 | Link to Comment bullionbaron
bullionbaron's picture

Trying to shake out all the longs before a massive weekend revaluation perhaps? ;)

http://www.bullionbaron.com/

Fri, 06/15/2012 - 09:09 | Link to Comment FREEEEEEEEEDOM
FREEEEEEEEEDOM's picture

Gold and silver is soooo 2011, real pros stack copper.

 

Fri, 06/15/2012 - 09:11 | Link to Comment junkyardjack
junkyardjack's picture

Shhh don't let them know there are other metals, let them fight for $20 in gold

Fri, 06/15/2012 - 09:16 | Link to Comment CommunityStandard
CommunityStandard's picture

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.

Fri, 06/15/2012 - 09:17 | Link to Comment Stackers
Stackers's picture

They out there panic'n right now. i can feel it. They panic'n.

Fri, 06/15/2012 - 09:12 | Link to Comment SeverinSlade
SeverinSlade's picture

Real pros are stacking hollow points.

Fri, 06/15/2012 - 10:11 | Link to Comment IAmNotMark
IAmNotMark's picture

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.

Fri, 06/15/2012 - 11:04 | Link to Comment Overfed
Overfed's picture

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.

Fri, 06/15/2012 - 09:10 | Link to Comment lsbumblebee
lsbumblebee's picture

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. 

Fri, 06/15/2012 - 09:11 | Link to Comment Silberadler
Silberadler's picture

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...

 

Fri, 06/15/2012 - 09:11 | Link to Comment caimen garou
caimen garou's picture

Stupid is as stupid does!

Fri, 06/15/2012 - 09:12 | Link to Comment Seize Mars
Seize Mars's picture

Paper gold. What a joke. Why does anyone trade this shite? You think you're going to time it right?

Fri, 06/15/2012 - 09:13 | Link to Comment Clint Liquor
Clint Liquor's picture

Anyone who uses stops in the PM markets deserves whatever they get.

Fri, 06/15/2012 - 09:19 | Link to Comment SeverinSlade
SeverinSlade's picture

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.

Fri, 06/15/2012 - 09:41 | Link to Comment Seize Mars
Seize Mars's picture

SeverinSlade:

Wait...you mean the Federal government is breaking the law?

Huh?

Fri, 06/15/2012 - 11:05 | Link to Comment SeverinSlade
SeverinSlade's picture

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.

Fri, 06/15/2012 - 09:15 | Link to Comment MarkD
MarkD's picture

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.

Fri, 06/15/2012 - 11:08 | Link to Comment Overfed
Overfed's picture

The place to go when O'bomb-a send us that $3K stimulus check! That'll get the economy back on track! /sarc

Fri, 06/15/2012 - 09:15 | Link to Comment Jim in MN
Jim in MN's picture

Gold settlement pricing (def.):

A joke, nestled closely to a stinking fish carcass, wrapped in a soiled newspaper on a warm day.

 

 

 

Got Real?

Fri, 06/15/2012 - 09:15 | Link to Comment SeverinSlade
SeverinSlade's picture

You never go full retard.

Fri, 06/15/2012 - 09:16 | Link to Comment youngman
youngman's picture

HFT computers....they only add liquidity...lol.....crooks..

Fri, 06/15/2012 - 09:18 | Link to Comment Clint Liquor
Clint Liquor's picture

Yes, nanoseconds of liquidity.

Fri, 06/15/2012 - 09:19 | Link to Comment Marigold
Marigold's picture

Go GATA go.... now the manipulation is openly discussed at last.

Fri, 06/15/2012 - 09:20 | Link to Comment silverdragon
silverdragon's picture

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.

 

Fri, 06/15/2012 - 09:25 | Link to Comment tocointhephrase
tocointhephrase's picture

Action-reaction, simple!

Fri, 06/15/2012 - 09:23 | Link to Comment kralizec
kralizec's picture

Well...

The BenBernanke is part of the BIS team, so...

Fri, 06/15/2012 - 09:27 | Link to Comment geewhiz190
geewhiz190's picture

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

Fri, 06/15/2012 - 09:30 | Link to Comment LULZBank
LULZBank's picture

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.

Fri, 06/15/2012 - 12:44 | Link to Comment akak
akak's picture

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.

Fri, 06/15/2012 - 09:31 | Link to Comment MFL8240
MFL8240's picture

The paper Gold market is a farce, it is a con game just like the US banking and stock market are.  

Fri, 06/15/2012 - 10:11 | Link to Comment zorba THE GREEK
zorba THE GREEK's picture

The only paper I'm accumulating is toilet paper.

WTSHTF, I'll be ready.

Fri, 06/15/2012 - 09:35 | Link to Comment mayhem_korner
mayhem_korner's picture

 

 

+1 for "hunts", Tyler

Fri, 06/15/2012 - 09:38 | Link to Comment youngman
youngman's picture

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"

Fri, 06/15/2012 - 09:39 | Link to Comment Bastiat009
Bastiat009's picture

Gold is down because central banks will print. Not one single trader/banker/economist on earth seriously believes that is possible and yet ... 

Fri, 06/15/2012 - 09:42 | Link to Comment silverdragon
silverdragon's picture

If we are going to succumb to a religion, Silver is probably the best religion around.

That Gold Cult aint so bad either.

Fri, 06/15/2012 - 11:15 | Link to Comment Overfed
Overfed's picture

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.

Fri, 06/15/2012 - 09:44 | Link to Comment papaswamp
papaswamp's picture

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.

Fri, 06/15/2012 - 09:47 | Link to Comment dingoj
dingoj's picture

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!

Fri, 06/15/2012 - 09:54 | Link to Comment forrestdweller
forrestdweller's picture

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.

Fri, 06/15/2012 - 11:59 | Link to Comment Silver Garbage Man
Silver Garbage Man's picture

I wonder how many gold silver bashers out there are going to pay north of $2500 and $50 for their first bits of relics.

Fri, 06/15/2012 - 12:50 | Link to Comment akak
akak's picture

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.

Fri, 06/15/2012 - 13:16 | Link to Comment silverserfer
silverserfer's picture

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.

Sun, 06/17/2012 - 17:26 | Link to Comment DosZap
DosZap's picture

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.

 

Sat, 06/16/2012 - 00:18 | Link to Comment silverdragon
silverdragon's picture

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.

Sun, 06/17/2012 - 08:23 | Link to Comment boogey_bank
boogey_bank's picture

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-...

 

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