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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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That's a keeper. Thanks FOG.
We don't need your stinking fiat paper, bitchez!
Did you want fries with that?
I don't hope to ever get social security... I was too late to buy a house at a resonable price... Didn't fall for the 401k scam... I feel bad for everyone without gold/silver.
Sometimes men just want to watch the world burn, and sometimes the 3 generations before him spent all the riches and left him with the bill.
Nowadays? Working 50 hours a week to accumulate USD monopoly money, I say let it burn and even with food shortages it'll be something like a vacation.
I don't hope to ever get social security... I was too late to buy a house at a resonable price... Didn't fall for the 401k scam... I feel bad for everyone without gold/silver.
Sometimes men just want to watch the world burn, and sometimes the 3 generations before him spent all the riches and left him with the bill.
Nowadays? Working 50 hours a week to accumulate USD monopoly money, I say let it burn and even with food shortages it'll be something like a vacation.
I don't hope to ever get social security... I was too late to buy a house at a resonable price... Didn't fall for the 401k scam... I feel bad for everyone without gold/silver.
Sometimes men just want to watch the world burn, and sometimes the 3 generations before him spent all the riches and left him with the bill.
Nowadays? Working 50 hours a week to accumulate USD monopoly money, I say let it burn and even with food shortages it'll be something like a vacation.
.
Tyler, your headline cracked me up already, as does all your other wry commentary. Just wanted to let you know it is most definitely hysterical!
Splenectomy, Bitchez!
Whats really funny, is that the news isn't talking to much about what is happening in Europe. Belgium is getting pushed to the front also along with Italy and Spain.
How can anything be happening in Belgium, they don't have a Govt (not like that's a bad thing or anything!)?
Will the price of arable land keep pace with gold in a year or so?
Barbaric relic bitchez. And so we celebrate like berzerking, mead-addled Norsemen. $1650. Arrrghhh!!!
Finished corking 30 bottles of mead just yesterday, so...berzerkin' we shall go!
Mish on economics:
http://globaleconomicanalysis.blogspot.com/2011/07/fiat-money-produces-e...
the funniest thing about mish is GoldMoney. lol @ him.
FOFOA on MIsh on economics:
http://fofoa.blogspot.com/2011/07/does-fiat-produce-endless-sea-of-wars....
Did Ambroase Evans Pritchard LOSE his mind?.
How in the hades could he see this as positive?
http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/867357...
BEWARE TEH PUMP AND DUMP
Even though these gold and silver like duh! entries are short, they get me juiced! Weeeeeeeeee
Silver? I tend to think that the manipulators were very successful in scaring newer silver buyers. Plus fofoa´s bias for gold and his admittedly elegant silver bashing. But if there is indeed a serious silver shortage, as is well argued by credible folks like Eric Sprott, I would be buying silver now while gold is getting the attention. And I am. Thoughts?
I have NO PROBLEM with diversifying re PMs. Most of mine is Au. Next is Pt. Then Ag, but that is a lot of ounces to store vs. gold.
Other than what I read here at ZH and occasionally in other places I do not know much about silver.
Tyler! Maybe you should invite one of the knowledgeable Silver Bulls (tekhneek, tmosley, Mr Lennon Hendrix, etc.) to publish a "Case for Silver" article here at ZH.
I did well in silver (got my ass handed to me early May though) over all net ++++.
The gold silver debate though is heavily to gold WHEN IT IS GAME OVER FOR THE DOLLAR. At that point gold is a wealth asset and silver is a possibly very high priced industrial metal. Up to that point the paper markets can shake us all over the place. If there is a physical short then paper metals could actually tank as folks realize that paper is not how you get metal, it is how you can get paper to buy metal. I have committed to taking a bit off the table and putting it into physical from time to time. The risk is that you are long paper but paper fails. Better to slowly accumulate physical until you finally join the All Inn club.
lawrence1 @ 22:01
Stick with Gold for the bulk,I will make my PM's purchases reading, and learning from foplks who have no VESTED interest in the sale of it.
Hold what the big boy's do, have some Silver, maybe 30% of your total PM's IMHO.
With markets reacting so negatively to debt ceiling sell-out, I suspect it's about time to look for another false flag event.
Zerohedgers take your GLD profits now. The FED can't be that stupid. Any real inflation in inputs is going to shock the economy again. Both small business and the consumer will say enough. Deflation baby. While GLD will probably go up in during the early stages I would not take the risk. Hyper inflation can't happen because it will focus the consumer on basic needs and destroy housing. Check out www.theamazingreset.blogspot.com The system is worse off than the Leo's of the world can see but its not the end either. I think the Bernank will talk QE III and do some things to juice the markets or maybe they will do QE III and force funds and banks to stay out of commodities. I'm not sure... I don't like what the Bernank is doing but he's no dummy....
I don't have any money
got nothing to lose
i'm not afraid.
Gold is a barbarous relic cherished by a Euro-Asiatic-African mindset that has poisoned the minds of billions. One only needs to take a look at how Amerindians (Aztecs, etc.) treated gold as ornaments and referred to gold as 'excrement of the god' due to its abundance. With the coming of Cortez and the gold insanity of the Europeans, the Aztec civilization was destroyed. Indeed, if you want to replace gold, study Amerindian societies in the pre-conquest New World.
Gold has, in actuality, limited human economic development. By being the sole focus of Western Capitalism as a safeguard against inflation and devaluation of a fiat currency; that sole focus has eliminated and retarded the development of alternatives. Unfortunately, in today's world, few ever consider alternatives. A mental incapability has manifested itself in Capitalist systems. Because of gold. Just like fiat currencies, gold is used to enslave. People are only trading fiat currency enslavement for gold enslavement. How easy is it to confiscate gold? Ask FDR.
FDR did not confiscate gold. He merely bought back, through legal enforcement, the gold at a lower price. Allowing only small amounts and certain forms (wedding rings, etc) to be held privately.
Keep on worshiping gold. You are programmed for it. You are forced to. You are trapped in the system. The system that is bringing everything down around us. Worshipers of gold are part and parcel of the problem. Symptomatic. Viewing gold as liberation when history tells us otherwise. You will never break the cycle - only repeat it.
You need to cut back on the vodka.
Oh, and learn a bit more of monetary history before spouting such nonsense.
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