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Gold Welcomes Its New CTRL+Ping Overlords
After days and weeks and months of pounding, gold reacted like a stung dog, soaring over $20 upon the realization that following the Philly Fed confirmation that the "recovery" is now officially dead that, gasp, the Fed really has no other choice than to CTRL+P.
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GOLD Bitchez!!!
AU-rgasm, baby!
That which is unsustainable, will not be sustained.
Maybe it's that Japanese pension fund buying -- I bet it's been so long since they bought anything other than the JGB, they don't even have the phone number for a good broker.
They probably just called AMPEX and said "We need 10T yen worth!"
what's the japanese word for "Pronto"?
"Plonto"?
I down arrowed you while laughing. Is that a hedge against my conscience?
Racist! I still up arrowed you.
Move over OWS....make way for the barbarians.
If only the Occupy movment joined us barbarians we would totally overwhelm the Crimex
they would but the cant afford the shinny. Thus their ill tempers.
I believe I have found a new trade to take part in during the collapse - Seamstress.
“I think gold is a great thing to sew onto your garments if your a Jewish family in Vienna in 1939 but I think CIVILIZED people don’t buy gold." Charlie Munger, the Vice Chairman for Warren’s Berkshire Hathaway
Old Charlie needs his diapers changed....
Check those nappys and see what was sewn into the hem.
There's a TSA App for that - https://www.google.com/#hl=en&output=search&sclient=psy-ab&q=TSA+diaper+check&oq=TSA+diaper+check&aq=f&aqi=g-K1g-bK1&aql=&gs_l=hp.3..0i30j0i8i30.750.2859.0.3031.16.14.0.2.2.0.203.1829.7j6j1.14.0...0.0.ukfD1Fo0FAc&pbx=1&bav=on.2,or.r_gc.r_pw.r_qf.,cf.osb&fp=3ae503de8fac34e5&biw=1133&bih=751
Charlie Marches On
http://www.youtube.com/watch?v=XCXcQ1oBoo4
This too will be faded. Prepare for "THE PLUNGE" across every asset class.
OK, then how about, "AUrgasm! Zzzzzzzzzzzzz...."?
Missed the boat huh?
He is a deflationist. You know... the guys who have been shorting the DOW for the last 3 years.
Gold isn't the only fiat defense, copper, aluminum etc. are still shite.
a lot of goofs are long gold and silver creating some craziness
Yeah.....for about the last 11 years. Why do you think they call them goofs?
I pick my long and short points
put your cheerleader skirt and pom poms down Alice
Pt Pd
I am always impressed by anyone who from the shelter of anonymity, calls others GOOFS
you are less than nothing
As much as I like to see the gains, I'm placing my bets on the same beliefs Slaughter... it's looking like prices are going to correct a bit lower from here (short term that is).
Good luck everyone.
Worry not, more accumulation on lower prices.
Silver Bitchez and Jon Nadler you can't buy God but you can aquire God's money, you scum bag, government drone!
QE crack junkies have to wait until June 20th for their next handout. By then, Grexit will be mission accomplished. Prepare for "THE PLUNGE" (TM).
They do QE now and Grexit turns ugly, they will be out of matches.
So slow slide or crash and burn
In the meantime they'll buy a month on QE rumors and whispers befor they actually hit the button
GOLDEN RULE: He who has the gold makes the rules.....
Trav?
tMosle.e to the white phone in the powder room?
It's not Trav. He hasn't said a word about the inferiority of dark skinned people in this thread.
Gold will win the day.
http://ericsprott.blogspot.ca/
Ground control to major Tom.....
Your circuit's dead, there's something wrong
Can you hear me, Major Tom?
Can you hear me, Major Tom?
Can you hear me, Major Tom?
Can you....
What happens once Uncle Ben's P key gets stuck?
Hyperinflation!!!
This time it will have to remain on 24/7.
I wish everyone luck in the future.
Might need to increase that to 25/8.
OH yeah...forgot about the group of people running it. 25/8/423 it is then
Now it might work.
Aw, fuck, they're devaluing TIME now?
to the moon alice!
Duh ! But not soon enough for my Call options. sigh
Please remember that trading paper is to rely on the regulated casino to deliver your payment.
Remember MF Global.
DOH!
Regulated? Hmm...I admire your faith in the powers that be!
did the same some months ago
'CTRL+P'
What a formula for success...
It is clear that Gold is overcoming the blatant CB manipulation. At least for the moment.
The sad reality is that the entire equity market is "blatant CB manipulation."
Not just equities. Bonds as well. And currencies.
Every asset class is being manipulated by our central planners.
What a fucking joke this economy is.
The fact the BofA is not below the 7 handle right now is proof that fundamentals don't matter. All aboard the crazy train!
Reading Martin Armstrongs latest.. in recent previous write up he talks about gold too..
http://armstrongeconomics.com/693-2/2012-2/manipulating-the-world-econom...
Preferred his type writer prison work.
What a random coincidence that this ramp comes the day after the metals plant their faces into support and turn around. I'm sure no one is behind that curtain jerking prices around.
Hope everyone bought their weekly call options when they hit bottom.
dead cat bounce.
What did the cat die of - helium poisoning?
I suspect a lower bottom too, depends on euro crisis and the fed.
POG decoupling with the us dollar , finally.
I'm waiting for it to de couple from the paper assets(credit).
Might be game on.
Is it time to go all in ?
Or wait till after the Flopbook IPO?
Answers anyone ?
And de-coupling from share prices ; )
And all this even with the US Gov essentially injecting a TRILLION dollars a year into the US economy with it's prolificate spending habits. I smells a collapse coming.
I'm not dead, I feel fine! :)
IMF: More ECB unconventional easing may be needed ... just in from MarketWatch. Yippeeeee
and when is gold about to recall "no printing till obamney reinstalls at DC"?
Lots o' volume at JPM today.
Gold SOARS!!! Up a whole $30.00 an ounce now after being down several hundred bucks an ounce, and having significantly breached the $1600 an ounce level.
Try to understand this. Gold is a commodity. The dollar is rising because the euro is dropping, the yen, though still defying reality, is starting to crack, and the yuan is a joke.
Gold will keep falling. The dollar, you say is just paper. $93 of that paper will buy you a barrel of oil. A month from now, $85 of that paper will buy you a barrel of oil.
ZeroHedge has been a valuable source of info, particularly as regards the European debacle. But it is full of crazed gold-bugs and conspiracy theorists. Give it up. Your precious metals fascination is gonna cost you.
anti barabarian, a?
Charlie Munger would call him civilized.
Full tilt retard : FAIL
But at least he knows which salad fork to use at the proper time.
Sounds to me like he's stating the obvious. It's hard for many to see through their emotions, though. I thought gold was supposed to be like $5000 by now? I would think people would be hoping for lower prices to buy. I know I am. I've been celebrating the dropping prices as a chance to acquire. And like Slaughterer, I expect better prices are yet to come.
In 1930, one could buy breakfast, lunch, and supper for less than $1 paper dollar.
Can you do that today, skippy?
Hell, a jar of Skippy is bucks!
Island of Niihau bought for 1,000 oz of gold 120 years ago. that gold is worth 1.6m and Niihau worth 1b
Next year they bought a huge chunk of Kuai for the same amount and made it into the most profitable sugar farms. I'm sure it's worth at least 1b and then add back all the farming profits
learn NPV
Not sure that is a valid comparison, as they were buying totally undeveloped land at a time when there was a great deal of undeveloped land everywhere. Today, it has infrastructure and commerce (presumably). Similarly, there is a difference between virgin jungle and productive sugar plantationland.
maybe
but inflation compounds against us. 3% a year isn't just 3% after 10 years. gold has to rally by at least a comparable investment to stay even.
1 ton of gold at $300 in 2000 was 9.6m, call it 12% annualized. now add that back in to all the years it was crap
I don't even give a shite about the 12%. I did take delivery on gold and silver in 1999 when the russians were just trying to feed people. but unless it goes to 20,000 fast it's just another trading vehicle that only works in 1 of three scenarios and has a clock ticking against it.
I just think too many fools are long it
(and you said "virgin Jungle", giggity)
Gold is money. America has been on and off the gold standard many times. Inflation loving thieves vs a working economy. Bankers vs farmers. Corruption vs honesty and equality. It is always paper vs gold. Gold always wins.
http://www.youtube.com/watch?v=Q8e-e9xtFWA&feature=list_related&playnext=1&list=SP6D09BB9900764D5F
If you don't know the history of money you will be destroyed. Paper money always lies and always dies.
This cycle has happened many times in America.
This is interesting. Can you point to some of your past public predictions for reference?
GOLD is money....if you ain't got it yet (gold) or a clue I do feel for ya!
http://ftalphaville.ft.com/blog/2012/05/02/983171/marginal-oil-production-costs-are-heading-towards-100barrel/
The marginal cost of the 50 largest oil and gas producers globally increased to US$92/bbl in 2011, an increase of 11% y-o-y and in-line with historical average CAGR growth
Holy shit, stop the presses. You mean marginal cost of production mimics the market value of a good over time!!!!!!! That is freaking revolutionary. Someone should write a textbook on that.
Oh wait, go take Econ 101 - Microeconomics in any high school or college. You know what is stunning, if oil prices went to $45, *gasp* the marginal cost of producing oil would lower to about $45 over time, as expensive production was taken offline. And if oil went to $250, the marginal cost of oil would rise to about $250 given enough time as expensive production was added. This happens in every product eventually, once market distortions are removed (like patents, subsidies, etc.)
Try to understand this. Gold is a commodity. The dollar is rising because the euro is dropping, the yen, though still defying reality, is starting to crack, and the yuan is a joke.
*****************
Yes gold is a commodity and so is the dollar which means money is a commodity-
How smart do you have to be to understand-
When you put gas in your car-the oil company sells you their gas for dollars and you sell your dollars for gas?
So what's your point about commodities and trying to separate the dollar and gold as being somehow different?
you obviously think in terms of months. true gold bugs think in terms of years.
Your too late. Gold has already cost me (average of $900/ oz), but if I can get out of AGQ @ $51 that average will be going up.
In 1932 gasoline was $0.10 per gallon. Gold was $20 an ounce. Therefore an ounce of gold bought you 200 gallons of gasoline.
Now an ounce of gold will buy you....in the neighborhood of 500 gallons (assuming for simplicity $1500 an ounce and $3.00 gas).
In other words in the most basic terms, gold has held and increased value for the last eighty years of chaos. Also, gas isn't that expensive if you have real assets to pay with.
Try to understand, mon cheri. It is not so terribly difficult.
In about a year you will regret not buying gold and you may also regret owning the dollar for too long.
How is it a conspiracy, they're printing and will keep printing, simple.
If gold is worth nothing but a necklace and a nice ring then why will not the Fed return the US gold hoard back to the people for shiny "American" Federal Reserve lapel pins?
Are we not wasting millions protecting it at Ft. Knox? It does nothing but sit there and stare at the guards anyway right?
DELAY THAT IPO!!!!!!!!!!!!! Emergency...
What the sale of all assets to buy facebook means to the market:
The fire sale is over, and with a circular motion of money out of n and into f, the shift to undervalued, high growth, high value, story investments will syphon money from the bloated, like banks and aapl, into the gassy: amazon, google, food, gold, silver, oil.
the stuff everyone values or uses.
Good investment strategy for this year will be: buy whats useful or valuable in the present day i.e, no credit, low wage, stagflationary, bank running environment.
Fantasy= Banksters/Feds
Reality= Us
"What we have hea, is a failyuh to communicate"
Love the entertainment from the gold is a commodity shills. Just makes me smile, and feel a little sorry for them.
I BOUGHT THE FUCKING DIP!!!
AHHAAHHAHAHHAHAHHA
1 silver in the hand is worth 10000 paper siver in the bush
Catching the falling knife always stresses me out, but I usually get lucky.
3 gold maples @ 1545 yesterday, maybe I timed it right this time ...
Don't worry about knives or spikes. Just cost average every month. It takes the stress out of the transactions. If it goes down and stays down, you will get some for that price next month. If it goes down temporarily, who cares?
You may have bought A dip, but did you buy the bottom? It's very doubtful.
gold will rise if and when the jamie morgue is done with its current operation of positioning itself for the subsequent move. With a CFTC like this it is pointless to wait for a short squeeze, a fair price or whatever action one would expect a "free market" to display. Amen.
It should not come as a surprise on the heels of JP Morgan's trading loss, that derivatives are at risk of becoming illiquid, so more QE is in store.
Dr. Berni
http://www.youtube.com/watch?v=sBCvQCS8UBI&feature=youtu.be
Look at the facts:
"The entire global gold demand in the first 3 months of 2012 was just $59.7 billion and all the investment demand for gold in the world was just $21.2 billion in the same period."
Meanwhile in the US of A, debt and unfunded liabilities increase by $23.13 billion every day. And in the world as a whole, debt and unfunded liabilities increase by about $80 billion everyday.
How they have managed to suppress gold, real money, with paper promises speaks to the power of the central bankers. But with debt now at unsustainable levels and the barabaric nations buying precious metals with increasing vigor, the central bankers are about to lose control.
This may be behind golds move :
http://www.cnbc.com/id/47461419
Ctrl+FTMFW
anybody else think this big bounce up in Gold is a head-fake? I am not too sure we won't continue lower on PM's. I was hoping for a shot below 1500 to load up...
...doing GOD's work...GS-DickinDaMuppets
Short term the currency fluctuations play a large role. Panic and fleeing from one burning boat to the other. Not a head fake exactly. The USD index just paused in the midst of its longest rally in a generation, which in turn is mainly fear-based (i.e. Euro panic). Hot money amplifies the moves either direction.
As we all know, greed and fear lead to mistakes in investing. The thing is, if the Euro crashes and burns, will it just remain as a more limited participation currency, possibly a stronger one? What to make of the potential new currencies, or say the 'light blue' sub-Euro for the periphery? A second regional currency, weaker. Is the net any different vs. USD when it all shakes out? Arguably not. The long view ignores the turbulence around the 'pricing in' of actual information.
Other than actual sovereign defaults, which are positive for gold, most of this is probably meaningless. Unless you're day trading. In which case, consult your Magic 8 Ball and have another drink.
You hear that bernankisize?
Your going down you horrible little fucking shit stain on humanity. Let's be hoping its a long drawn out affair you interfering imbicilic little cunt.
And while I'm on it, here dimon you satanic country wrecker, you will get yours as well you fuck stain.
Is Warren Buffet shorting gold? Either this is a squeeze or this is THE final chapter where GOLD is recognized as the only safe haven.
Gold miners will be better capitalized than banks and when everyone needs gold to survive, even AAPL will become obsolete.
Gold is winning!
Oh, Come on.
Do I have to explain how the virtuous circle works, again?
I, as the FED stand here, the big banks form a ring around me and consumers, well you wander about aimlessly just outside the ring. Now, I provide liquidity to the big banks by giving them money in exchange for their pocket lint. Then the big banks, with money in their pockets, will turn around to face the consumers and...
Hey! I saw that.
Stop that right now!
Quit picking each others' pockets.
If gold is going up because of a new QE coming, then stocks should go up too. But they're not.
Stocks go up as a result of the inflation brought about by QE. The liquidity bolus takes time to give the desired effect... Gold goes up on the anticipation of QE (and afterwards) because gold is a reflection of DEBT. They will both go up as a result of QE, but not necessarily simultaneously.
Actually mining stocks are going down because there is no requirement to mark a short sale any longer on Canadian exchanges, only if the asset is either a hedged or arbitrage position. This favours delta hedging strategies, which first sell the mining stock, then parry the monies into the rising trend of 30-year U.S. treasury prices. Basically, you sell the miner, and buy the option in long dated treasuries.
So what that means is, that stock will decline on a rise of treasury prices. The accumulated short sales, which have no requirement to be marked as a short sale, are considered a debt and form the underlying asset, or hedged position called an equity swap.
So any of the money coming in to mining stocks is directed into hedged positions to buy the long dated treasury. The delta hedged position, or the equity swap, or derivative, saps the value from stocks.
On Monday, May 14, something happened that hasn’t happened since Dec of 2008. Two successive near-month precious metals futures contracts were in backwardation at the same time.
http://www.acting-man.com/?p=16928#more-16928
Speaking strictly from an environmentalist point of view, being a true conservationist at heart, I think fiat is not even good enough to wipe your ass off with.
Gold is much better. Wipe it, rinse and then repeat ...
Gold went up because of the pending contagion in Greece et al defaults and the Boehner/Obama battle to raise or not raise the debt ceiling. The punch bowl has left the building.
Fibonacci retrace.
Wake me up when its over $1625 if you want to go long. Below that its short meat.
(I am a big gold bug, but you still have to trade it)
FED won't let PM prices run away. We've been here before exactly this time last year.
POG was down in the 1520s overnight. That must have freaked a few players right out. The bounce so far is actually over $50 /oz and meeting resistance.
Just the mere mention of a possible QE3 in the last FED minutes from late April (!) which happened to be released yesterday is what got the buzz started.
If you happened to buy some oversold miner or paper gold yesterday, well done. How much further is the rumor mill going to take it?
Wait until 3am tonight....then you'll see who is in control here. I would just sell into this strength.
Pssst...got a secret for ya....the cocaine just makes it FEEL like you're in control....
Mes chers amis, VIVE THE GOLD! (Almost sounds like "De Gaulle" in French). Charles de Gaulle and Ron Paul are the same type of people, both advocate of sound money, see De Gaulle famous speech that you probably all know too well back in February 1965.
There was apparently a guy pointing to small backwardation yesterday on both Gold and Silver on both month. At the same time if you check the CRB FOOD Index on Bloomberg you noticed that the CRB Food index bounced exactly two days ago in a very similar move to today´s Gold move. Looks like Food commodities should outperform Gold for a while, as Gold and food commodities are joined at the hip historically.
When a stock or commodity has a downward trend, usually shows a higher volatility. It isvery common that these jumps occur. This is not to say (yet), that gold resumes its bull run. Beware anticipated.
I can only hope in the collapse Charlie Munger finds himself at the border trying to flee and has no gold to bribe the border guard.
Is CTRL+Ping the same as urinary continence?
They have to raise the price as people empty their bank accounts into metals on dips.