• BullionStar
    05/30/2016 - 21:24
    The US Gold Market is best known as the home of gold futures trading on the COMEX in New York. The COMEX has a literal monopoly on gold futures trading volumes worldwide, but very little physical...

Guest Post: It Sure Looks Like 2008

Tyler Durden's picture

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Thu, 08/18/2011 - 18:57 | 1575096 Dr. No
Dr. No's picture

Looks like 2008? not really, gold is not $500/oz.

Thu, 08/18/2011 - 19:01 | 1575107 Doubleguns
Doubleguns's picture

Shhhh, are you trying to wake the CME margin increasing bastards up.

Thu, 08/18/2011 - 19:12 | 1575135 Long-John-Silver
Long-John-Silver's picture

That pony has played it's one trick. They tried it again with Gold and all that pony got was an $1,800+ brand burned in it's ass.

Thu, 08/18/2011 - 21:30 | 1575501 pgarner
pgarner's picture


Thu, 08/18/2011 - 19:10 | 1575130 mayhem_korner
mayhem_korner's picture

According to my receipts, most of my gold is $500/oz.  ;)

Thu, 08/18/2011 - 19:23 | 1575164 urbanelf
urbanelf's picture

You seriously need to return your gold and get the $1800 kind.  Actually, I've got a few $2000 golds if you are interested.

Thu, 08/18/2011 - 20:39 | 1575329 Bunga Bunga
Bunga Bunga's picture

The same receipt you will get soon from government, forced.

Thu, 08/18/2011 - 21:59 | 1575615 Bastiat
Bastiat's picture

Yeah, he better unload that crap fast.  I'll give him $750 oz right now.

Thu, 08/18/2011 - 18:58 | 1575098 Fukushima Sam
Fukushima Sam's picture

Monetary half-life getting shorter, bitchez!

Thu, 08/18/2011 - 19:01 | 1575104 Caviar Emptor
Caviar Emptor's picture

This is the greatest buying opportunity moment the world has ever seen! 

No, this is!

No....THIS is! 


It just keeps getting better and better the worse things get and the lower it goes! 

Thu, 08/18/2011 - 20:49 | 1575348 Central Bankster
Central Bankster's picture

LOL how about those guys they parade on CNBC, calling a bottom every 10 points down on the SP. 

Thu, 08/18/2011 - 22:06 | 1575649 Clearly_Irrational
Clearly_Irrational's picture

Don't be silly, everyone knows it's not a bottom until Cramer throws in the towel.  Hasn't happened yet, therefore we're still in free fall mode.

Thu, 08/18/2011 - 19:04 | 1575108 chistletoe
chistletoe's picture

same canyon?  check.


same weather?  check.


same lone ranger and tonto?  well, not exactly, but there are similarities.


same horses?  check.


same indians?  well, there do seem to be a few more, this time around.


does history repeat?  No.


This time, the lone ranger has no bullets .....

Fri, 08/19/2011 - 00:53 | 1575112 sitenine
sitenine's picture

By the time this is played out, you will WISH it 2008!

...unless you have PM, of course.

Thu, 08/18/2011 - 19:03 | 1575116 RobotTrader
RobotTrader's picture

Put/call closed at a record high of 1.49 today, fwiw....


Thu, 08/18/2011 - 19:17 | 1575147 Gibu The Great
Gibu The Great's picture

nomo momo

Thu, 08/18/2011 - 20:50 | 1575352 Central Bankster
Central Bankster's picture

Hows that NFLX trade working out?

Thu, 08/18/2011 - 19:04 | 1575120 Caviar Emptor
Caviar Emptor's picture

We're starting the next leg down with much less dry powder

Thu, 08/18/2011 - 19:19 | 1575155 Gibu The Great
Gibu The Great's picture

My question is do we continue with that leg down tomorrow... or is this going to be a little more of a drawn out process (perhaps extending into next year).  Doug Kass says the XLF is going to be up 10-15% in 2 months and up 50-100% in the next 12, so I guess that means we're headed lower right away.  

Thu, 08/18/2011 - 19:38 | 1575190 Stumpy
Stumpy's picture

I know that the worst thing that could happen to my portfolio is a long sideway drag, killing all my calls and puts.

Thu, 08/18/2011 - 19:48 | 1575217 Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

You might consider selling some furrher out strikes puts and calls to hedge?  Volatility is probably up from when you bought your puts and calls so you may be able to capture some decent premiums.  Good luck!

Thu, 08/18/2011 - 19:05 | 1575121 RobotTrader
RobotTrader's picture

Blowoff top in 30-yr. bonds today as Tom Keene's jaw was dropping on the floor this morning.



Thu, 08/18/2011 - 19:15 | 1575143 HelluvaEngineer
HelluvaEngineer's picture

ignore.  u=>0

Thu, 08/18/2011 - 20:51 | 1575356 Central Bankster
Central Bankster's picture

How are those GLD puts working out?

Thu, 08/18/2011 - 19:08 | 1575125 midtowng
midtowng's picture

It can't be like 2008. Why? Because I read an article Yahoo Finance from CNBC that it wasn't like 2008.

Thu, 08/18/2011 - 19:45 | 1575206 Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

Case closed!

Thu, 08/18/2011 - 20:39 | 1575330 Dr. Porkchop
Dr. Porkchop's picture

2011 looks nothing like 2008.

2008 has two boobies stacked sideways on the end, 2011 has two sticks.

Thu, 08/18/2011 - 20:57 | 1575373 bid the soldier...
bid the soldiers shoot's picture


Thu, 08/18/2011 - 19:52 | 1575223 seek
seek's picture

I came here to post the same thing. It's off the front page now, but the moment I saw it, I said there's your mainstream media denial, which confirms it's exactly like 2008!

Thu, 08/18/2011 - 19:10 | 1575128 Random_Robert
Random_Robert's picture

Enough of that crazy-talk. This is nothing like 2008...

2008 was all GWB's fault.

This time it's those pesky tea-partiers.

 can't believe our perfect utopian pelosi-paradise where no one has to work and money is free is being trampled underfoot like this.


That's it- I'm calling the President of my local Bilderberg chapter.

Thu, 08/18/2011 - 19:12 | 1575137 mayhem_korner
mayhem_korner's picture

I do declare it's high time for Senora Pelosi to take another trip to Syria.  Maybe outfit her with a headscarf with "Assad Rocks" embroidered on it.

Thu, 08/18/2011 - 19:13 | 1575139 papaswamp
papaswamp's picture

I think this is a bit worse than 2008...the convusions are worse. I think there will be one more stick save that will last into Q1-2 2012...then the game is over. Or the powera that be will just step away and let it fall sooner rather than later.

Either way a major conflict or series of medium ones will break out. ME will start things off, followed by Asia.

Thu, 08/18/2011 - 19:20 | 1575157 SamAdams1234
SamAdams1234's picture

It is worse: political instability that was not present in 2008.

Thu, 08/18/2011 - 20:38 | 1575321 sun tzu
sun tzu's picture

How is it more unstable now? One party rule has always been disastrous. 

LBJ 1963-1968

Jimmy Carter 1976-1980

Bush Jr 2002-2006

Obama 2008-2010

Thu, 08/18/2011 - 21:03 | 1575392 ZippyDooDah
ZippyDooDah's picture

I think he was referring to the international scene.  World > USA.

Thu, 08/18/2011 - 19:44 | 1575202 Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

China reaffirmed recently that any attack by NATO or another entity on Pakistan would be considered an attack on China.  The U. S. is itching to dismantle the Paki nukes.  Stay tuned.

Fri, 08/19/2011 - 06:54 | 1576277 Bobbyrib
Bobbyrib's picture

Whatever..I have some cheap, "disposable" shit to buy from Walmart made from our friends in China. /sarcasm

Another word for the globalization loving crowd is liberal.


Thu, 08/18/2011 - 20:06 | 1575248 roccman
roccman's picture

yep the next FF will be something that strangles oil supplies


and of course the dinner table is set for the ME to be blamed


the last act of masking peak oil effects and racking the world into rationing/martial law/kill off


think about it

Thu, 08/18/2011 - 20:40 | 1575332 sun tzu
sun tzu's picture

Oil dropped to $33/brl in March 2009. Marginal demand determines prices.

Thu, 08/18/2011 - 20:45 | 1575342 roccman
roccman's picture

wrong EROEI determine prices

Thu, 08/18/2011 - 19:18 | 1575151 Gonzalo Lira
Gonzalo Lira's picture

Didn't I write exactly this just a couple of days ago? I'm sure I did . . . and didn't I call it . . . uh, something like . . . "The Sequel"?


You know, I think I even got interviewed on it on The Alyona Show . . . or was I dreaming?


Thu, 08/18/2011 - 19:24 | 1575167 nyse
nyse's picture

I actually printed this out and distributed around my office. Well done ;)

Thu, 08/18/2011 - 19:45 | 1575205 Hulk
Hulk's picture

Thats not a dental office, is it?

Thu, 08/18/2011 - 20:52 | 1575357 Narcolepzzzzzz
Narcolepzzzzzz's picture


Thu, 08/18/2011 - 20:10 | 1575258 Shell Game
Shell Game's picture

ah, but yours did not include snazy chart.. 

Thu, 08/18/2011 - 19:19 | 1575156 Caviar Emptor
Caviar Emptor's picture

We didn't have this in 08:


Recent readings taken at the [Fukushima Daiichi] plant are alarming.

When on August 2nd readings of 10,000 millisieverts (10 sieverts) of radioactivity per hour were detected at the plant, Japan's science ministry said that level of dose is fatal to humans, and is enough radiation to kill a person within one to two weeks after the exposure. 

10,000 millisieverts (mSv) is the equivalent of approximately 100,000 chest x-rays.

It is an amount 250 per cent higher than levels recorded at the plant in March after it was heavily damaged by the earthquake and ensuing tsunami. 

"How much radioactive materials have been released from the plant?" asked Dr Tatsuhiko Kodama, a professor at the Research Centre for Advanced Science and Technology and Director of the University of Tokyo's Radioisotope Centre, in a July 27 speech to the Committee of Health, Labour and Welfare at Japan's House of Representatives. 

According to Dr Kodama, the total amount of radiation released over a period of more than five months from the ongoing Fukushima nuclear disaster is the equivalent to more than 29 "Hiroshima-type atomic bombs" and the amount of uranium released "is equivalent to 20" Hiroshima bombs.

Thu, 08/18/2011 - 19:29 | 1575181 centerline
centerline's picture

And no news at all about it any more.  Amazing.  Full scale media blackout.

Thu, 08/18/2011 - 20:55 | 1575366 OutLookingIn
OutLookingIn's picture

Something like the MSM reporting of the strawpoll and how Ron Paul wasn't even there! According to the MSM.

Thu, 08/18/2011 - 19:42 | 1575199 Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

After the Fukushima disaster thunder thighs Hillary Clinton flew over to Japan and agreed that the U. S. Government's stance regarding foodstuffs imported from Japan to the U. S. is that they would be safe!  So our masters are not even testing imported food coming from Japan!

Fri, 08/19/2011 - 07:01 | 1576286 Bobbyrib
Bobbyrib's picture

Japan would do the same for us. It's not like they banned the importing of American beef when Mad Cow disease hit, is it? /sarcasm.


We need a candidate for President who will make sure we are not the world's bitch.

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