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It's A Tradition... It's A Religion...It's A Barbarous Relic... It's $1,650
This the intraday chart of spot gold. Whether the surge is due to JPMorgan's outlook on 2012 GDP, to Fitch saying it does not rule out revising the US outlook to negative by the end of August, or to Gross finally admitting QE3 is possible, is irrelevant. Our work here is done.
And just in case, here is a two day chart.
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Mr William Banzai, Can you design us a Gold 1650 hat?
That's a lot of Tozs to wear on your head!
General Jim owns Momo.
Poor General Jim was wrong on most counts.
RobotTrader - Fri, Jul 29, 2011 - 11:52 AM
Gold and silver getting axed again, PM stocks down
RobotTrader - Thu, Jul 28, 2011 - 09:52 AM
I guess General Jim will have to post some more pictures of his dogs, chickens, and farm animals at jsmineset.com
lol!! two handed reverse slam dunk.
I did hear that Jim is reconsidering Robot's resume for his position of farmhand.
Yeah Robot will be really good at cleaning out the bulls stalls since what is found on the floor of them is the same as the content of most of his posts. ROTFLMAO
Hahaha!
Best laugh I have had this afternoon.
+ $1655 seems so hard to write that...
Robo must have gotten his clock cleaned in the market this past week, for his sake I hope he covered his ass. My PM stocks shot thru the fucking roof this past week, but hey, it only costs $5 to dig out of the ground. All those experts over at King World are all idiots to Robo. What does Sinclair, Norcini, Rule, Sprott, Embry, Hathaway, Russell, Turk , Davies, Lassonde, Faber, Celente, Shiff, and Dines know ???? They have been laying it out there for years, and so far they have been spot on. Robo you keep trading equities, I will stick to the lumps of metal.
Momo is less than a spot of birdshit on the sole of Sinclair's shoe.
... and you forgot to mention it doesn't pay interest or dividends.
Amazingly, some posters on the internet don't know the difference between the two.
This is the canary in the mine shaft. Gee.... I wonder what is means???
Governments can't be trusted?
Market's are corrupt?
No one can be trusted?
Central Banks are ponzi schemes from Hades?
People are finally realizing they need security that can be monkey'ed with?
That'll do nicely even if it's a tradition that you can't eat. :)
No Golden Parachute for the Dow today. That sucker's in freefall.
snoooooooze. show some real brilliance!
'Gold is not money it's a precious metal' Bernake must be shrugging this move up as just symptomatic of more irrelevant 'tail risks' due to the debt ceiling being raised..
Plenty of time to board this train.
The sooner the better...
Well... it's tradition? I always wonder why no diamonds... wake up Ben!
http://goldversuspaper.blogspot.com/2009/01/funneling-down-pyramid.html
http://goldinvestingadvice.org/diamonds-vs-goldsilver/
I just got a sneaky feeling that with all those new hundreds of billions to play with, that, TPTB are going to throw a little water on this party.
In some far off land..
In the dead of night..
When all good little boys and girls are snuggled safely in bed.
That's just because your banana hammock is too tight it's cutting the circulation to your brain.
Au contraire mon cher....this signals that some are buying
OK, well maybe some smart money is buying, but I can't help think that there are some trolls with a lot of monopoly money in the basement of the FRBNY just wainting for the right moment to pump a lot of shorts into the metal and a lot of longs into the equities.
But then, I have been delusional in the past.
And manic as well.. part of me wants to be validated for my pessimistic and defensive moves and the other part is scared as hell that I was right all along.
Right Tyler. You want to take a much earned vacation, fine. But leaving us is out of the question. Pleaseeeee.
I bet Tyler is connected to his computers with a IV :)
Even if he wanted to leave, he just can't unhook from it.
and I just sold all of my Gold in hopes of QE-3 thru infinity.. making my dollars worth more thru dillution.
are you guys telling me the more that the FED Prints the More my Gold would have been worth? becuase my paper money is being dilluted?
That cant be right? why would they do that?
The Banks would have to be self destructive to command the FED to Print like a drunken sailor!
Some people would call you a idiot for saying stuff like that....
I'm one of them.
But as long as there's still that thing called freedom of speech, you can keep doing it.
It's a piss poor attempt at sarcasm.
but still... even you got it and you're a girl!
Sorry, but women are just as intelligent and capable as men. Thank you for trying though.
Ps. I'm not a woman.
You could have at least added some humor to your post by ending with:
Pms. I'm not a woman.
Just kidding people, don't hang me... I love women and yes, they are tremendously capable.
On the plus side it sounds like he is back on his meds.
+++
JW, Xeno, Sudden, fuu,
People like you are why I am here.
A breathtaking $1655 to you all!
"Some people would call you a idiot for saying stuff like that....
I'm one of them.
But as long as there's still that thing called freedom of speech, you can keep doing it."
Holy shit! What a line. Son of a bitch, I have to buy depends for my keyboard if I keep reading ZH. That's the second time I've spit a drink through my nose while reading.
The Banks would have to be self destructive to command the FED to Print like a drunken sailor!
Not if they get a sizeable portion of that printing.
QE goes partially to govt, mostly to banks. About 1 to 3 ratio I suspect.
It would be zero to govt and all to banks, but they have to give govt a cut to keep govt playing along.
Yes printing debases the currency, but banks get so much of the printing they come out ahead.
And that's how they're quitely stealing the wealth of America ...exactly why the Fed was created.
And yes QE can go on irrespective of govt's debt ceiling. Because most of it goes to banks.
When Treasury can't borrow, all of it goes to banks. Bernokio can keep right on printing and buying worthless trash paper from banks,
... which does debase the currency irrespective of those who say it doesn't. They may view it as "reserves", not part of the money supply, but the rest of the world views it as part of the money supply.
Dollar losing value against gold is a fundamental topic here on ZH, discussed all the time.
Amazing you haven't picked up on it ...or did you leave the /sarc tag off.
Almost time for me to give ZH'rs a sale on my rare Silver Coins. I set them very high at $52, because I didn't want to sell them. I only made 300 of which I only about 180 left.
http://www.mundogold.com
cheers
As soon as gold hits 2000, the U.S. government will kill it.
Mark my words.
You can't fuck with Uncle Sam. He plays by a different set of rules.
http://geraldcelente.proboards.com
They can tax and raise margins. But the situation is too far gone, too complex for them to seize gold. There are too many deep currents invested in gold right now. Fucking with it would be an invitation for something worse: capital flight. And that can happen in a Geneva minute
Will they kill the whole world? Because that's who's dumping fiat to buy gold.
Um, in case you have not yet noticed, they are working on that. Look around, Open your eyes. :)
Wow. ANOTHER piece of shit faggot banging the celente boards?
Just how many of you fux ARE there in here ??
I'm tellin' ya, Tyler - you ought to just stick a boot in these guys' asses (and a cock in their mouths) and SHUT THEM THE FUKK UP !!!
.
.
.
The only thing the USA manufactures these days is YOUR OPINION !!
Shit!!!! it is going to beat my $1750 prediction by December...damn it I was too low.
$1652 and climbing...
I will always remember a dumbshit financial "expert" on the radio who was saying "gold is only useful for filling teeth" at the same time Jim made the call for $1650. Congratulations Jim! So what if it was a few months off schedule! And "fuck you" all you financial "experts" who kept (and still keep) the public out of gold.
Damn that felt good.
Mario Gabelli said the same thing this year. That corrupt moron.
where the fuck is robomomo? spalding smellies?? shits rolling over hard boys, where is the "market isn't pricing in qe3, market is pricing in an economic boom, driven by the us consumer" ROBO?? how's the dump trucking business smailes?? lololololol
dow 15k/gold 1650 will go down as one of the most priceless failed calls ever made here on zh. kudos to you momofader. general jim owns that ass.
Might want to think about who(m) 'Robo' (and certain other ZH 'characters') represents before wasting energy on some idea of vindication....
Well if you really want to find them start by trolling the dumpsters!
bWHAAAAAAAAAAAAAAAAAAA
Well if you really want to find them start by trolling the park bathrooms!
There fixed it!
DaddyO
Damn good rant!
New equity lows, new AU highs, new credit problems, new low production numbers: the fiat charade is starting to unravel. After the close I'll go for more popcorn to get through the week.
Why so much gloating? Price is indicative and proportional to confusion and desperation.
Why are you so hurt by term "tradition"? Every long lasting value of humanity is tradition.
Throwing virgins into a volcano was a tradition, so was burning witches, dancing for rain, using lead plumbing, monarchies...
ES 1257.80
almost as fun as a solid gold barrel full of monkeys!
Downright tame chart compared to what the future holds. Given Obama's propensity to give other people's shit away for votes, and the Repubs weillingness to "compromise", wait until the melt-ups commence with $200 intraday ranges.
Congress still thinks we are the only super power on Earth.
They forget how a pack of jackals can, in fact, take down a lion, if they are hungry and desperate enough.
Darwin will win that one.
Darwin? I think you forget that Congress isn't allowed to believe in evolation. You have to be a Jesus 'earth is 6000 years old creationist' nutter to be elected to office in America.
Apparently, the current congress and administration might not believe in any particular god, but they do believe in miracles.
Who's the patron saint of lost causes?
Seems congress owes them a virgin sacrifice right about now.
So, how does that jibe with Decepticrats getting into office?
jeez you are a follower of the MSM are you not?
Darwin didn't roll that way.
Ever seen a dog licking it's nuts in the middle of the road?
Whatever, you're not fooling anyone kl: you know you would too if you could.
Darwin had his way with men who could lick their own nuts. The died out like those rats that kept pushing the coacaine button until the starved to death.
Only because it can.
What was that Robo call? Gold at 1650 and the Dow at 13,000? Since he is hiding in his momma's basement crying I will fill in for him:
Look at everyone scrambling for Uncle Gorilla's paper. Man if you would have only bought PCLN, AAPL, AMZN or LULU you would be rich as they are currently....oh wait, they are all down today. Nevermind.
Market Blood Bath and I just can't stop laughing.
Well.........
The blood on Wall Street IS going to hurt many, many people. Perhaps it is best to not laugh. Dow -265 shows that BAD THINGS are coming soon.
The ones who will make it through OK are those with savings and little / no debt or those with exceptional useful skills.
And of course those who own plenty plenty of gold and a gun or two to defend it.
Damn cut through 1650 like a hot knife through butter.
PA-RA-BO-LIC
<clap> <clap>
<clap> <clap> <clap>
PA-RA-BO-LIC...
I think you mean expo-nen-tial. They can be steeper. I am waiting for $100 up days, they are coming.
wonder where all the geese are that have predicted 10 of the last 0 gold collapses?
Yes, Lt., where the hell are they?
Gold is saying "If you are unemployed or low on cash or down on your luck-Ben is about to rub your nose in Shit"
TEASE.
Your work is NOT done.
It is just beginning.
Well it's off to the liquor store and gun shop for more barter items.. can't afford gold anymore.
s 'ok. Been stackin for 3 years & got some at $850/$11.00 back in '08.
Now for the mining equities to play catch up. Got to get more PMS out of the ground when the squeeze is on. I love this shit.
Nationalization of mines is the probable outcome of a rapid rise of PM prices we are witness to right now. That would take mining stock of nationalized mines to ZERO.
Correct.
Or the S. American .govs could just raise taxes on gold production.
Best to just own the physical gold itself.
everyone understand silver is up 2.5% today so far.. right?
come on! SILVER is IT!
Love it. Wish I had more of this "tradition." Nice move in silver, too.
silver
up .14 cents
in 2 minutes ..
Burn the fucking shit pile down!
"You could strike sparks anywhere. There was a fantastic universal sense that whatever we were doing was right, that we were winning . . . And that, I think, was the handle—that sense of inevitable victory over the forces of Old and Evil. Not in any mean or military sense; we didn't need that. Our energy would simply prevail."
Fear and Loathing in Las Vegas
...It's time for a series of margin hikes...
I think we're past that trick now. I think we are past paper anything as well.
Damn the margins! Full speed ahead into physical bullion.
Did we ever have a $30 day before? I remember the chat about seeing the $50 days and then the $100 whipsaw. Supposed to be the end of the dollar then.
Peas are up big today.
I think when I go into work tomorrow I'm going to demand that my employer start paying me something other than FRNs...I'm getting sick of busting my ass for what the PTBs are apparently determined to devalue into a big, fat, pile of green toilet paper...
Gold is the blood of the earth and should be buried as a gift to her
lest you be removed from the surface of the earth by the angry Mother. - Kogi saying
So ahh . . where did these Kogi live exactly?
You jogged an old memory. 15 -20 years. It's hard to say. I found it interesting at the time. It was about this tribe buried deep in the forest primordial. Somewhere in South America presumeably. They believed that gold was the ichor of the world. Earthblood. It was ok for them to remove gold as long as they replaced it with something else. What that something was is unsure. Goodwill perhaps. Who knows. The term goodwill sounds increasingly archaic in these times.
Anyway, their shaman were chosen from birth and sequestered in a cave until the age of 10 or 12. Then, they were brought into the fecund greenery of the aforementioned forest primordial.
Damn, I planned on winning the PowerBall Wed. night and going lump on Au.
queue bubble squad to warn us....
As time goes on we will find out that the South Koreans are buying and so is everyone else.....they are getting out of the dollar...and then the big change will happen....gold will become the new reserve currency.....somehow..someway...probably not a good way...the dollar will be toast...
I hear the talking heads saying how great the weak dollar will be for exports......FUCK..we don´t export anything....idiots...its 15% of our economy...
This DOW drop is sending a signal to the politicians that their deficit plan sucks big time.....EVERYONE and EVERYCOUNTRY knows it was crap....
wait until Thursday when Spain needs to sell Bonds....I feel sorry for the Swiss...
What do you mean "find out that the South Koreans are buying"?
Gold soars to high on South Korea purchase, economic jittershttp://latimesblogs.latimes.com/money_co/2011/08/gold-soars-to-record-hi...
Exactly. Yesterday's news (posted here, btw). All those who were buying before are buying more. But the most dramatic turn in the last few weeks has been European demand. Don't underestimate US demand either
What I mean is that other countries who are not usually buying...are starting to now rather than the normal "buy US Treasuries"....they see the writing on the wall too.....
i've had a close friend and a family member contact me today asking the best way to get into PMs. Keep in mind they always poo-poo'd the idea of buying and holding physical when i would bring it up. i always felt like the boy who cried wolf.
we might very well be seeing the first chapter of the end of this current global banking paradigm. finally.
Yes that is the next phase or the second step in the meme. People who wouldn't listen, who didn't find out for themselves by recognizing the problems inherent in the system are going to want to be involved. The 1% that are invested now will quickly grow to 2% then 4% but by 2% gold will already double from this level and the rest will be clamoring for it and silver will go up threefold in a few months because all the regular people who want real money will jump at the lower priced metal.
I've been saying for years that getting in before the meme grows is one of the main reasons why I got in and it was already on a bull run for years.
It is still just the beginning but the next phase is going to blow people's minds.
jomama,@ 15:54
i've had a close friend and a family member contact me today asking the best way to get into PMs.
Sadly this is where those who are still heavy FRN's, will be calling the sellers of worst repute, and gettinjg saddled with Semi Numismatics, and re-strikes, that are WAY baove the going rate.
Never fails...............never.
hat tip to james turk for calling the running of the gold shorts. he had a thesis, and stuck to it.
Thanks I was going to give a shout out for James Turk myself for saying this summer is going to be a gold bull run like 40 years ago.
gotta give credit where credit is due.
What happened to those cute Silver Bears? Guess they've been overshaddowed by Gold.
I'm seeing gold up 2.55%
silver up 3.64%
http://www.semmo.net/streaming-real-time-quotes-gold-spot-price-silver-s...
Shh! They're on a secret spying mission in the JP Morgue...
Just think, 99.9% of the people on the street have no idea what just happened!
Takin Gonzalo's advise when the time comes.. hold, hold, hold, then right in the teeth of it: Trade for farmland acreage.
Precisely.
A monster fuck you to the status quo™ from our shiny golden rock friend today. Love it.
/ES 1250 reached and breached. NEXT.
Tradition, bitchez!
Bring back the silver bears please!!!!!!!
Dow/Gold ratio down to 7.1
Gold up 22% ytd
Stocks flat ytd
Where you at Robo
One of my exit points for PM's is if the Gold / Dow ratio approaches anywherse near 1/1, or if the Price of Gold approaches 3000 to 4000 / ounce. I hope Robo realizes that Equities and PM's have officially disconnected as of this week.
Short Squeeze? The parabolic action is crazy. It stops temporarily, in a pennant formation, before exploding upward again.
I'm long physical silver and gold, but crazy days like today make me nervous.
I guess the market realized what we knew all along - no cuts will be made, and dollars will be printed until we run out of (electronic) trees.
Hang in Tyler!
58% of gold is now going to India/China and another big % is going to other SE Asian and Mid East countries.
If you bail on your PMs they are headed EAST and are not likely to be seen in these latitudes again...
Western CBs gotta think this over when they play the paper PM game. The East is taking delivery and the Western paper will blow sky high when there is no physical left except that held by CBs that are not selling/leasing.
Snindley: Do you think the eastern countries are behind the glut of the whole page "We buy gold" in the daily newspapers? If not them, who? PS the will screw you without the benefit of a kiss or lube.
What was that rocket that just launched? I thought the shuttle program was dead.
I will now watch the horror on the faces of the CNBC know-nothings as they try to explain this and the S&P500 down 2.5% on the day.
Crush those naked silver shorts. If they thought April 2011 was killing them they will be being carried out feet first by the end of 2011.
Strange, I will watch the exact same thing with undisguised and unrepentant glee ....
The first thing those momos say is "SLV" or "GLD"...they just aren't grasping reality yet.
Can you smelelllellle.... what the printer, is cooking?
Well,
1650 divided by 16, sure as hell ain't 40 dollars.....
New film sensation for realease this year: Gold Diggers of 2011
I have only been aware of the significant problems facing the dollar for 16 months. In that period I have spent all my reading time trying to decide what to do and how to protect myself and those I am responsible for. The best unifying hypothesis is that presented by FOFOA. It has taken a good deal of time to understand why he is correct in his observations but ....he is. No faith based, 'lets make the world a different/better place' garbage....just the power of observation and a bit of reasoning. It is sad to be right about all of this but it would be worse to ignore it. It is still not too late...yet. My suggestion is get some physical gold. Yes I know that 95% of ZH do not need me to tell them that but if I can help one more person survive that which comes I'm doing my job.
I know, I've been screaming about it for years...but I'm poor; I left university last year and this has been my first year working a non-minimum wage job. My family however have several london homes, decent jobs, portfolios of shares, german cars etc. They always looked upon me as a delinquent son. Now, after I've seen 300% gains, they're listening - but only starting, way too slow. My mum owns about 40oz of silver, my brother says he might buy some bullion this month.
Its agonising.
The best unifying hypothesis is that presented by FOFOA.
I don't understand why anyone needs to read FOFA to get it. Printing currency debases it. It's common sense.
Meanwhile, the Obama administration, under the leadership of Shillary, is negotiating to allow nuclear proliferation in the Middle East.
Proof positive the Obama administration will never act against Iran. Their solution is nukes for all.
What could go wrong?
http://news.yahoo.com/obama-administration-mulls-india-style-nuclear-pact-saudi-201100247.html
You still can't eeat gold, nothing has changed
Everybody loves to use the word, "bitchez" on this message board. Grow up people. You're not in the 8th grade.
May I be the first to suggest that you go fornicate yourself?
Respectfully, of course.
God damned church lady HOA nazis should all drown in lakes of blood.
get lost bitch.........ez!
FUCK off ...bitch.
Hey, TWO "vulgarities".
Say what? We're children?
Care to discuss monetary policy sometime?
it's still not too late to get some PM.
Sure about that? Support mental health week (and swear-wordz!), or I'll kill you!
Need to update that to $1,660.
Here is the final market update on the day.
Markets continued to crash on fears of economic data showing the U.S. entering a double dip recession and a renewed fears of a European debt crisis as EU regulators announced they have no plans to issue recue loans to Spain and Italy.
The Down Jones Industrial Average had its largest one day loss in over two months closing down 265.87 to close at 11,866.62 losing over 2.19% on the day.
The S&P 500 closed down 32.89 at 1,254.05 losing 2.56% on the day to enter negative territory on the year and closing well below its 200 day moving average.
The NASDAQ had the worst performance of three major indexes losing 2.75% closing at 2,669.24.
Oil closed down 1.59% at 93.38.
Gold continues to trade at all time highs several times during the day hitting over $1,660 per ounce with the last spot price being just pennies below that price.
Continue reading on Examiner.com Gold Surges to Record All Time High As World Markets Crash - Jersey City Civil Rights | Examiner.com http://www.examiner.com/civil-rights-in-jersey-city/gold-surges-to-record-all-time-high-as-world-markets-crash#ixzz1TuOjPn8hDown Jones, is that Freudian.
Fuck me sideways - its 1660!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
wishing my gold/silver ratio was a little higher, though sure silver will catch up in the long run. This is just amazing action.
Got some fiat, but is wating for a pull back even worth it??
I call gold $2000 by end of year
Like many, I have told friends and family for six years to buy gold. They did not respond. A sweet sister said her stockbroker was a "nice fellow" and had not recommended gold. I asked her how old he was. She said 32. What does he know? I asked. She said again he was "nice". I tried to tell her that being "nice" does not qualify one to be a good money manager. She didn't listen. Miliion buck portfolio, all in FRN's.
So I am happy I bought 2006-08. Cost basis about 650. Yeah, I feel better. But WTF! How could I EVER sell that shiny stuff, and not for paper. Ideas welcome. But I do suspect we'll see at least 2500. What to do THEN really is the question.
Gold to $12,000 and silver to $900 then I'm trading it for farmland or some kind of business related to agriculture - like manure producer for example.
Is this the beginning of the DJI/Gold 1:1 move?
Gold fever has already arrived here and we all know what happened when Silver fever struck, back in April. Yeah, I know, this time it's different. Props to James Turk for calling the summer rally way back.
Hopefully gold will double the dow, as predicted by mike maloney
Here's to tradition! Thanks bernank!
Can't wait for the next silver spike. When the crooks at the CME announce the next margin hike that will be the time to convert back to gold which held steady. Wait for silver crash again. Switch back to silver,
Worked very nicely last time.
Wash, rinse, repeat!
Nice trade! A buddy of mine sold about 1/2 his silver for gold at $50. Impressive.
good lord in heaven
Remember...silver will not / cannot be a monetary metal again...it has soooo many industrial uses that while its price may rise greatly it will have too unreliable a stock (ie stable tradable mass). How could it be money if, one day there is plenty but the next it has been gobbled up for use in solar??? This is why gold will be the monetary metal/ wealth asset extraordinaire. And have you considered that it might just stay that way? That it could be just what folks are looking for to store wealth while the politicians screw up the next version of fiat (and you KNOW there will be a version 2 and 3 and 4 fiat and you KNOW they will abuse it). Yes gold is coming of age, it is more than a bubble (I guess you could consider it a bubble that does not deflate).
las, I saw this and your earlier post.
It took me a LONG TIME to more-or-less understand FOFOA'a reasoning, but as you wrote above, perseverance is often worth it. The hook that first caught me was a 2009 prediction of $55,000. Radical! I always have had a spot in my heart for (certain) radicals, so I started reading. Yes, it is hard for me, but apparently some people reached enlightenment quicker than I did.
Gold has ALREADY been chosen by the wealthy and the central banks to store their wealth. They front-ran us! But as FOFOA says, we can follow in the footsteps of Giants (actually that was probably a quote from one of his two virtual mentors: Another and FOA).
To my knowledge, FOFOA has not met either one of them. But, he sure did take the ball and run with it! In my eyes, the best gold analyst out there, and I mean no disrespect to General Sinclair, Martin Armstrong, etc.
Disclosure: I donate to FOFOA, so I kind of have a dog in this hunt!
DCRB
I have read your posts on FOFOA, I contribute as well. I have learned a lot there and have not had to put up with "silver bitchez" once. Not that I'm thin skinned but the 'density of info' there is simply higher. 'More 'knowledge per page' if you will. I'd love to be able to give FOFOA the ID of FOA (maybe a birthday present).....he not only has not met them but does not know their ID.
Just looking at the Weimar price of Gold:
January 1919 = 170
January 1920 = 1,340
January 1922 = 3,976
January 1923 = 372,447
November 30th 1923 = 87,000,000,000,000
Handy if you want to convince your relations why Gold is a store of value. What would be really interesting, would be the data concerning housing during the same period.