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Italy's Revenge: VAFFANMERKEL
In this bizarro world, in which beggars have practically convinced themselves, and certainly the S&P500, they are now choosers, the latest escalation is actually biting the hand that feeds you. Below is today's front page of Italian Libero. It is self-explanatory.
Just a thought (and one which so many people forget): every action has a bigger (sorry Newton) and opposite reaction. Italy may enjoy its day in the sun, but one day soon the surreal Stockholm syndrome will end. Then it will be the turn of all those 82 million very angry Germans, as we described last year, to have a word or two about their broke neighbors.
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in da face
sigh.
its the way of the world
obama and the hoodlums have won. i's gotz ta gets back to da chickens before massa obama come home from a day of stealing
Sadly you're right. There is no beating them. That was the most accurate thing about Orwell's 1984 and Animal Farm - their relentless pessimism.
While I agree this is a little disrespectful and over the top, if anyone deserves a little ridiculing due to their antics of late, its Merkel. Her hesitancy represents a kick in the face to European solidarity - that which gave us everything good in the world, Bach, Beethoven, Rossini, Da Vinci, the welfare state, good pensions, the renaissance, free health care, Wagner, strong public sector unions. To disrespect European solidarity, as Merkel has, puts the world in danger of European disunity - that which gave us Hitler, Mussolini, Stalin, civil wars, privatisations, low income tax rates, the gullotine, the dark ages...
Articles like this will hopefully help her see her wrong doing. Eurobonds can bring about a new age of enlightenment; the alternative is disunity, war, and a return to selfish dictators...
You had me right up until "Eurobonds". Come on, man!
If you want to know the idiot behind theMAXILLOPEZpsycho here is an extract of the morons posts on ZH before he decided he wanted to be MDBs best buddy. Be warned that he is uncomfortably obssesed with prostitutes and is a 100% troll.
But he is now consistently hijacking threads so he's conning a lot of you.
http://tinyurl.com/d26n4r3
sadly more debt is not the answer to too much debt.
If you are dangeriously obese, dessert is not the way toward health.
It is the way if you want to end the misery.
Long wafer thin after dinner mints.
Careful with those wafer thin dinner mints
http://www.youtube.com/watch?v=v29QfOyuZ3Y
"...the alternative is disunity, war, and a return to selfish dictators."
And we have what now?
"the welfare state, good pensions, the renaissance, free health care, Wagner, strong public sector unions"
Those are exactly the reasons your beloved European and American states will crash and burn. You think there are unlimited resources to fund your "programs". Government is like a monster that is growing exponentially. Soon, all of the labor and resources we all have will not be enough to feed the monster. All of your so called freebies aren't free.
Unless I am a complete retard (which is still a possibility) I think MAXILOPEZphsycho was being sarcastic.
You are not retarded. Google his name and you'll find some youtube likes or something that demonstrate he's on the right side. He and MDB kill me with how many people think they're being earnest.
He's a complete troll, no sarcasm involved, he's rather poorly immitating MDB.
see http://tinyurl.com/d26n4r3
Where is it that you live without government?
I also blame the Renaissance and Wagner. I'm glad I'm not alone in this.
MDB has a new handle.
Love it.
walkure
yeah
he got me too
I down buttoned him before I realized it was our own master of silly serious satire.
So what are you saying here chief, that Bach is better than the welfare state?
Nice little trip down memory lane, you just took there... BUT this has nothing to do with today's reality. Germany has the money; Italy does not The former have been prudent with their money, while the latter have spent all their fortune away like durnken sailors. If I were German, I would answer right back at them: Ficken Sie Sich!" and don't ever come back begging again, you twats. It's high time for this "unity" to dismantle, once for all.
"Bach, Beethoven, Rossini, Da Vinci, the welfare state, good pensions, the renaissance, free health care, Wagner, strong public sector unions."
Half of these things are not like the others!
Wait. Was that supposed to be a joke? Or serious?
Claiming that unification "prevents" the possibility of another Hitler or Stalin -- who themselves quite clearly and quite deeply believed in unification and greater centralized power is pretty funny.... But I can't tell if you intended as much, or if you're just a propaganda puppet.
Centralized authority has seldom in history equalled greater freedom or greater preservation of liberty.
Really? Where was this European solidarity of yours when ailing European countries decided to 'cook the books'? When the Greek decided to cheat the tax authorities? When a doctor took a bribe so someone could get up higher on the schedule for an operation?
"...Bach, Beethoven, Rossini, Da Vinci..." came out of independent nations on mainland Europe, there was at the time of each of them no European solidarity
The rest of this post is also just a waste. Pity.
Not so fast... They haven't beaten us. Not yet... Gosh, I'm sure glad you were not George Washington. Buck up buddy, our fight has just begun...
Azzurri could have easily won that match 5-0...
[Edit]: Come on, man! There were at least 4 open net chances in the last 15 minutes that were missed...
Correct me if I am wrong but it seems that the love of debt started way before Obama came into the picture.
Correct. The love of debt has tripled or more in 4 short years starting with Bush. Obama was happy to take the baton and run with it.
He didn't run with it, he strapped rockets on his skates. Just like the next administration will do regardless of what puppet is 'elected'.
Baramitt O. Bamney - Super Genius. This message was brought to you by Acme products, maker of rocket skates for children.
The love of debt is INHERENT in human nature... it's a drug that sells itself... if it's available, it will be taken.
The largest difference between the haves and the have nots is the ability to recognize this and front run it/utilize it to one's advantage.
The largest difference between the haves and the have nots is:
One creates and sells the debt, the other buys and spends it.
It's crazy how much politics is being brought into the EURO cup. I guess it is just a sign of how bad things have gotten. Even the Zombies are talking about real issues.
http://ericsprott.blogspot.ca/
It is like children in a school yard, a lot of shouting until someone gets punched in the face....
“Everybody has a plan until they get punched in the face.” ~ Mike Tyson
Can't punch someone in the face when their head is firmly planted up their ass.
Kick them in the ass and kill two birds with one stone.
If you kick them in the nuts, will you break their nose too?
"Everybody has both ears until I get punched in the face."
~Mike Tyson
it was a great stunt for both of them
between tyson and donKing, the goobers are still counting the IOUs
EH/the guy with the ear didn't seem to mind at all! maybe they are still counting the receipts; why not? tyson's been around the block once or twice with the invisible rabbit too, imo; what a career
Euro Cup Grand Finale:
Spain (hopeless debtor nation) -vs- Italy (hopeless debtor nation)
Something to be proud of, eh?
winner gets 50% off interest payments!
While the loser gets full-throttle austerity.
Euro 2012 Final = the epitome of "panem et circenses"
Karma is a bitch!
Like it or not Italy, Spain and France just saved the Euro. Germany, Holland and Finland wanted those countries to implodes as they thought to have a chance on taking market-share from them with a lower Euro, lower internal interest rates and higher guarantees given to their buyers/suppliers.
Oupps it was not like that - While Spain, Italy and France got really scared with all this mess, getting out the Euro would have favoured much more the Club Med countries then not the northern ones in the mid-term as in the case of Italy, all debt is held by Italians and not by foreign institutions and as such even with a 50% haircut they would have came out stronger.
You can play until a certain point but when you are defeated you have to admit and Italy was simply too big to swallow for anyone.
The result you'd seen in football is symtomatic of something else...
For fucks sake, pull the plug.
merkel's the ONLY one who's been showing anything approaching reality in all this, she KNOWS it cannot carry on like this.
DavidC
She has cojones, but not big enough to be the terminator.
it's at these G-20 meetings where all are handed a script, a play by play, word for word playbill. markets are just a sideshow to keep the pleebs entertained, whilst the soon to be in hell elite, are amassing all the debts they can muster! if you rent,on foodstamps, and no medicaid, see how quickly you bow to your masters!
http://www.infowars.com/n-m-mom-jailed-for-overdue-twilight-book-dvds/
http://www.infowars.com/swat-tries-to-take-down-internet-meanie-raids-grandma-instead/
http://www.infowars.com/flashback-neurosurgeon-told-death-panels-will-decide-who-deserves-surgery/
God created man. Sam Colt made them all equal.
What's she gonna do about it?
Implode her own country? Merkel is a disaster who is going to be booted out next election.
The solution: Print the money like the US and UK and Japan. Or withdraw from the Euro and implode economically. 82 million poverty stricken Germans because PIIGS wont pay back the money the germans loaned out in the first place!
Isnt it awful.
Isnt it desperate.
wow, you show you have absolutely NO idea what you are talking about, bravo
That's what happens when you loan money to your drug addict brother in law.
Never loan money that you can't afford to loose.
There are no irresponsible borrowers without irresponsible lenders
That last line should be engraved over the doorway of the Eccles building
Never loan money you can't afford to lose.
Never borrow money you can't afford to repay.
Lenders and borrowers figure it out. Leave taxpayers out of it.
Similarly, their are no irresponble lenders without irresponsible borrowers.
the best thing she could do is reject euro bonds and fiscal union. Go back to the DM and let the piggs pay back their debt in euro which should remain a reserve currency. Problem I see is the debt is in Euro and must be paid back in euro or gold. fiscal union will not work and those being educated into believing in that system are being fed lies. Its delusional.
Well she could declare war. Now theres a black swan.
After all if everyone blames you for their problems and keep gutting you about two world wars and how you should bail them out, why not give them something to really complain about. If your ecnomy is going to crash, war is always the next answer.
I wonder what the local booky Ladbrookes give the odds on that?
3 to 1?
;-)
curious that the two fuck up countries will play the final
2 fucked up and bankrupt countries that pay the highest salaries to their soccer players.
They all have money. But why use your own money when you got the tools to conspire and pillage the strongest in the family?
Wars were started for less than this shit. Fuck Italy. For good now.
In Austria, we think the typical German is behaving as dumb as ever, as our nice little walkure is showing above.
Walküres might not be strongest but sure they are the dumbest and so fell vicitm to Darwins law.
As to Italy, it is just saying: "I want my money back": For what reason should they pay 20% of ESM as well as EFSF when there's one party blocking every success and causing further damages.
If they get this money back, they will have no further bond issuances for at a about one year.
Italy has a primary surplus three times higher than that of Germany.
Well when you are a nations are a socialist paradises partying on other people's money you get enough time to practice playing soccer.
Hey now....those are the best soccer teams German tax dollars can buy!
I'd think a country is fucked up when being messed like the US, no ?
curious - might be, for analphabets.
Germany should quit being pussies and exit the Euro.
Why oh Why do they stay?
Cause they want to rule the world - It's what Germans do - genius genius
http://www.youtube.com/watch?v=gfQoms2DpDk
Great remix
Obviously we're failing badly at that. Sending a pussy to a lion's match.
Merkel had no chance against the Mafiosi. I should have seen it coming. Thought she had it in her.
Ask Germans if they're willing to get back up a 3rd time and rebuild, only to be taken advantage of again?
They can all wipe their own asses.
FUCK THIS SHIT.
why wouldn't the Germans leave the EURO ?
nobody needs them and increasingly many want to ged rid of them...
Schöne Grüsse aus Wien!
Because all that real money they lent to the PiiGs will be paid back in piigs shit. Last I checked, you can't spend Piigs Shit.
Very sensible!
All this ridiculous comparison of Merkel to Iron Lady Thatcher is completely wrong.
In the end, Angie, like a good socialist, will cede to compromise.
As for the 82 million "angry Germans," they are too busy with their careers or their beers to take organized political action against their politicians.
Nope. The foundation has been laid. If we can't enforce our own policies to benefit our country and have to concede to policies that are hurting our country, why the fuck play along at all anymore?
The German middle class is alive and strong. The biggest part of the German economy is "der Mittelstand" and "mittelständische Unternehmen". It's not just the big corporate giants that matter.
Owners of private companies will see their bottom line erode. Why bother keeping the company open? Someone is going to pay back the loans. Shut 'er down. Take the equity and have a nice life. Why keep working?
Watch unemployment in Germany soaring. Let government pay the bills. If they can't, maybe another government will. Why should I care?
Sadly you are probably correct. I never thought the German public to be so apathetic and led. I thought that was the British disease. Maybe Schauble has had something put in the beer?
Seeing that some of the pro-bailout peeps are still being so defensive, i expect something nasty waiting in the wings...
Unfortunately, in the end result you're correct.
Merkel's political foundation is slowly dwindling, most of the Germans still believe if they remain calm and play by the rules everything will come out fine.
The opposition parties will continue to chip at MErkel at every opporunity even though they have no better plan, until Merkel either cedes or goes under trying to hold her position.
Maggie only had one true son; TOny Blair! Look what that did for Britain! He and Brown, took Thatcherism to Quislingism in Irak-Afghan and then to crony capitalism in derivative square mile shenanigans during the mad GWB end term years. Then the cover up in 2009 holy baloney "we don't like tax havens, but we love being the biggest tax haven ourselves!" Brown pseudo pontification to save the world that burned Euro zone subsequently. Sinbin City...Maggie's big bang legacy. Tough lady, tougher legacy for the people; not her darling Oligarchs, the others who are just Brits.
Gaol!!!
Vaffanculo stupido Italianos!
Fucking greeseballs, jesus man that makes my blood boil. Respect to the Germans, they held out for long enough in the face of insanity, now they have to suffer the fools.
BEFORE THE MATCH - THE GERMANS DISSED THE ITALIANS - AND AFTER THE MATCH THEY GOT INDEGESTION!
http://deadspin.com/5922014/german-newspaper-has-brilliantly-lowbrow-front-page-ahead-of-italy-match
Rete! RETE! RETE!
Ga'bocche a Merkel e Germania! Alora, mi dia tutti i soldi rapido, lei sciocchi!
It's bad enough that "vaffan" means "fucking cunt". But coupons for instant tea on the front page? Crass.
wrong, your translation (sic) is quite incorrect - see below
when you don't know anything, better not to post
Bill
Coulda swore it meant "fucking cunt".
Jeenyos, jeenyos, jeenyos !!
The Germans have become the patsies of the world. I'm embarrassed for them.
they are still uber-alles even if they lost to Italy on this. What is important is to save the German banks, lol. I don't think Merkel is JUST doing it for the Italians. She is doing it for Germany's future; unless the whole financial ponzi collapses one day.
The fact that that is on the front page of a paper garuntees a telephone call to Monty with a F*** You in it!
If Germans kick out Euro and leave all the Southern states hanging, it's good bye to Germany's economy. It's better for them to suck it up and pay. It's like a protection racket. If they aren't willing to pay, their restaurants will be burnt to the ground and their customers will be threatened away. It's always better to pay protection money than to go against the mafia. ALWAYS.
oh please, what stupid nonsense.
German restaurants in Italia ? lol
Don't argue.
WTF is a German restaurant?
Oktoberfest with smaller beersteins, but nowdays a Dönerjoint.
WTF is a German restaurant?
Banks win Banks win Bullish
as the saying goes-
lend me a million, you own me,
lend me a billion, I own you.
The Deutschers will have the last laugh.
Thank god Apple OS 10.7 Mountian lion has a standard dictionary. I had to drag it to my doc because of frequent use
Vaffan
An old, fat, hairy Italian man.http://www.urbandictionary.com/define.php?term=Vaffan&sourceid=Mozilla-s...
"vaffan" is phonetics and short for (romanitas) "va-fa-n'culo", short for "vai a fare un culo", literally 'go do (an) ass' or: fuck you! fuck it! fuck off!
I thought "vaffan" was phonetics and short for "waffen"...
yours is the definition that comes closest to what I was told by Italian friends while driving in Italy. . . in the case of the moto-scooter lads buzzing around a larger vehicle like gnats, weaving in & out dangerously - particularly on those multi-(unmarked) lane traffic circles with a massive fountain in the center that the Europeans are so fond of, a hand gesture consisting of pinky & fore-finger extended, two middle fingers bent towards palm (think Texas steer or devil worshiping heavy metal boys), palm DOWN, with a quick upward motion flipping palm UP - the Italian version of flipping the bird, or in the UK, the "two finger salute". . .
accompanied with "Va Fa n'Culo!" - go fuck yerself. Universal language, the hand gestures vary with nationstate. . . heh.
I rather miss driving in Europe. . .
The only winner in the EURO fallout is Goldman Sachs
no the winner here is the US. Money will flee to us in a flight toward safety, allowing the fed to keep printing for a few more years.
We are the best looking ugly step sister. We are ugly for sure, but just not the ugliest.
Stupid.
Applying Newtonian physics (even as a joke) to macro-economic and social matters is meaningless and dangerous. Waving such notions as truth is pathological.
Continuously insisting on black-white narrative of beggars vs producers is also meaningless considering complexity of global economic relations.
I would really like ZH to run deeper and stop pushing agendas.
If anything this is sensationalizing not pushing an agenda. But, yeah, I do sympathize to an extent.
Your stylistic advice is noted. In the meantime, from David Rosenberg today:
The article goes on to explain how all those who believe in money growing trees (even if with good intentions) should first get familiarized with an abacus, but that is irrelevant for this conversation.
W/r/t to Newton, Rosenberg can be reached at rosenberg@gluskinsheff.com Please tell him to not abuse Newtonian physics as it is meaningless and dangerous.
Certainly worked out dangerous for apples.
it didn't for coitus; the reaction on woman's side was seven times than that of male! It makes me feel pale rider of bearded hubris. Some men never forget this betrayal of man by mother nature! Whence Adam's rib. I love rib steak, saignant!
He has a certain point.
Most people will not get the joke anyway, so making fun of Newton's central point of the always exactly _equal_ and opposite reaction is dangerous as in those people's minds subconsciously another thing has been branded to be in line with today's Relativism, unwittingly.
Rosenberg is not in that danger, with his statement.
"Applying Newtonian physics (even as a joke) to macro-economic and social matters is meaningless and dangerous. Waving such notions as truth is pathological.
Continuously insisting on black-white narrative of beggars vs producers is also meaningless considering complexity of global economic relations.
I would really like ZH to run deeper and stop pushing agendas".Thank you! That had to be said.
You're welcome.
Its a rhetorical devise man, calm down. Have a good read of the comments, you really think the people reading this site give a hoot? I think ZH stopped trying to be impartial when they realised it was too difficult.
Maybe impossible at the moment given the context of deeply rooted global insanity. But if anyone can do it, to my knowledge and humble opinion, its ZH. Its a responsibility which must be taken willingly.
Oh it can be done, don’t get me wrong, it costs a fortune but it can be done. But thats not what this site is, you have got your wires crossed. This is a blog mate, its not the BBC. ZH is great, cut-throat and relentless, hilarious and tragic, but impartial they are not. And i hope they dont get any ideas of the sort, there are enough muesli munching liberals out there dancing on the head of a PC pin. Can a news source be accurate and preposterously tabloid at the same time? I think so.
like I said, its all about soccer this denouement!
Wow, the Italians really are dicks.
Uncle Ben is sending over some boxes of EuroBonds. He figures they need the instant stuff as the 5 minute recipe will not be good long enough.
If Germany is on the way to club med economics and banana republic style financing, it might as well take up their kind of politics.
Well, it's not like pissing-off and holding-down the German population has ever worked-out poorly for Europe in the past, has it?
I wonder if Merkel just doesnt want to live with being villainized in the history books...shame is, that spot should be reserved for the white house.
The only thing greater would be an outright declaration of war. I'm living (so far!) proof that you don't mess with Italians! Having said that I still VOCIFEROUSLY stand by my position that the gold should be in the bank...as "the worst case scenario" if exactly as presented here begs the question does it now "how do I recapitalize?" and the answer as I've said over and over again is "you must start small...but with voluminous quantities of the" you know what. (I know this pisses people off to no end but yo, dude WE'RE TALKING ABOUT YOUR COUNTRY!"
Fuck the Germans. Merkel's probably getting her pussy tapped by some dark-haired wop. She's on all fours, in "receiving mode". This is what you get when you trust your household budget to a human being with a cunt, a void, an absence of dick between her legs. Anything with a rigid dick will make her bend. No wonder she chose Shauble as her doppelganger side-kick, the guy has a cock but it's useless, like a castrated house cat. Anybody expecting some strong reaction from the Kraut's have it by the wrong end. They're standing by their man, the dark-haired, gambling, profligate, dissolute Mediterranean male providing the blood-infused dick muscle. They're going down with him in the gutter and will end like whores on a street corner, peddling their worn out pussies, once-cherished jewels now bearing the appearance of macerating sauerkraut. They'll end up with credit and bills worse than the Versailles treaty and their houses will look shittier than Dresden in 1945. Way to go Germany, you filthy slut!
Telling it like it is. That will get their blood boiling. One can hope.
Awkward. As a gambling, profligate, dissolute Mediterranean male I find your musings close to a 'truth' in the most extraordinary sense of that absurd concept. For a long time I've thought the Northern part of this continent was genuinely emotionally retarded all the way up until you get to the channel. Once you cross the channel I'm not sure you're even dealing with human beings anymore.
Who isn't a whore? Get over it, man.
Who isn't a whore?
The Pimp?
the pimp is a ho for money too - it's only the past decade or two that "pimp" has become an aspirational meme for lads.
http://en.wikipedia.org/wiki/Whore#Other_meanings
Cocks and cunts is the paradigm then, Freud would have been proud of a discovery like you. You know he talked a lot about penis envy in his later years, but what he failed to mention was that the phenomenon was more relevant to males; males constantly jabbering on about the symbolism and relevance of other peoples cocks. They're friends cocks, black mans cocks, Italian stallion cocks, they're daddy's cock, small cocks, big cocks, cocks on heads, cocks in ass, cocks here there and everywhere a cock. Makes me wonder...are you harbouring a fear of cock?
what always amuses me is how men talk about using their cocks for punishment, or referring to sexual acts as violent punishment towards those they hate - then they turn around and want a woman to do what they've just referenced as painful to another. . .fuck you! in the ass!! uh huh.
another thing that makes me laugh is the overt hatred of "pussy" & "cunt" from supposedly non-gay men. . . telling.
Guess Merkel, being a politician and a woman, reserved the right to change her mind after saying,
"Over my dead body."
Having taken windfall profits on SPY July 131 Calls,
today accumulating QQQ July 64 puts.
May know more by close or Monday:
http://richcash8tradeblog.blogspot.com/
Everyone is insolvent if we stopped and got an honest accounting of the books (without hidden vehicles and shell games with the accounts). A static, transparent accounting would reveal that all the sovereigns are insolvent. Germany, Italy, Spain, France-- all of them. If you agree this is true, how is it that we keep getting suckered into these discussions about who is going to pay?
The gamblers are leaving the casino.
Fractional reserve gambling.
Indeed they are not, the opposite actually, they cannot keep away. I'd love to say that it ends badly but it doesn't really end. Ever.
So then what do you make of the record Greek bank withdrawls in May?
They had to replace a lot of plates apparently.
Opa!!
In the USA some states help less financially off states. why not in the eu? germany can look after their new large family of adopted children in spain and greece and italy and portugal and ireland just like a family would.
And it's perfectly normal to expect bankrupt sunny boy to kick Mutti in the face ?
The power of the US federal government over states is absolute, should the non-credit-abusing states wish to enforce discipline on the abusing state. This power includes use of military or para-military force, complete control of Fed banking availability, and ability to interfere with resource movement into the state. In the Euro Zone only one of these is to some extent possible. Excepting southern California, perhaps, the rest of the nation can speak directly to the citizens of the abusing state, who in turn can migrate to any other state in the nation with enough language skills to understand work directions and comply with them. The EU was meant to prevent inter-national conflict, not enable it. This reality places limits on the ability to guide a credit-abusing EU nation except by financial incentives. Since an abusing nation can turn to international sources of credit support without threat of military intervention, the levers of compliance enforcement are weak. In this way any further integration is an experiment in incentives. With rates of tax compliance and graft extremely variable within the EZ 17, the reaction of voting populations at the national level will be interesting to observe. If there comes a point at which banking and corporate finance become a system in the EZ separate from democratic input the EZ wil have a new problem. If it gets to the point at which, for example, the German electorate cannot stop undesired change in the over-system, then you can be assured that German productivity and willingness to compromise on wages will end. Imagine what that will look like....
This short term approach of first bailing out banks by the governments and central bankers and subsequently weaker governments by better performing countries is likely to continue till the debts become so large that it would not be possible to role them forward or till the countries like Germany decide to save themselves instead of driving themselves into bankruptcy trying to save the euro.
http://www.marketoracle.co.uk/Article35345.html
Merkel caves in, keeps on bailing out the insolvent and the PIIGS take Germany down as well. Why not? Make the lender of last resort the lender no more.
'Gold is on the brink of a “violent downturn” and could even fall as low as $700 an ounce as the risk of deflation in developed economies grows and technical pointers turn bearish, one expert tells CNBC.'
Sell the news.
But surely, that's just a rumour?
In any case all the central banks are going to look pretty stupid buying gold hand over fist at $1600/oz only to see it fall to $700/oz. Don't you think? Or is it a Fed plot as their gold is still only valued at $42/oz? Ah, that barbaric old relic gold, still causing consternation and boating accidents everywhere.
If the USD price breaks support at about 1520 my money is on a 50% retracement of the bull run from 2008 - 2011 which makes 1300 a possible bottom. Can't see it going much below that under current circumstances. Supposedly the price of gold is firm in deflation, even if only as an insurance against default of the financial system.
its odd with the trend in up votes and down votes how the consensus on this thread is everyone want to see a deflatioary crash rather than an hyperinflationary one. Its going to be one or the other count on it. I personaly would rather see the hyperinflationary one as I have a better opprotunity to prepare for it. deflation keeps the powers that be in place. hyperinflation blows them up and an opprotunity to start something new is more likely.