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Precious Metal Margin Warfare Jumps The Pacific, As Shanghai Hikes Gold Margins For Second Time In A Month, Prepares To Crush Silver

Tyler Durden's picture




 

Wondering why gold dropped by almost $100 today? Wonder no more: today the Shanghai Gold Exchange lifted gold margins for forward contracts the second time this month to 12% beginning on Friday, in a move that is starting to resemble the CME's vendetta with silver back from May. Should we expect 3 more SGE margin hikes in the next 2 weeks? Or will the CME rightfully accept the baton and do everything in its power to dent the parabolic rise in the alternative reserve currency? We are cautiously looking at what the CME will do today and will advise readers. In the meantime, here is what else happened in Shanghai: "China’s main precious metals exchange will also widen daily trading limits for those gold contracts to 9 percent, up from 7 percent, the SGE said on its website on Tuesday. The contracts to be affected include Au(T+D), Au(T+N1) and Au(T+N2). This is the second time the exchange has raised collateral requirements on gold forward contracts this year — both times in August — as international gold prices hit a series of record highs over the past few weeks, boosted by a flight to safety on worries over a stalling U.S. recovery and crippling sovereign debt in the euro zone. Shanghai Gold T+D contract lost half a percent to 387.8 yuan per gram, or $1,884.47 an ounce, down from an intraday high of 391.9 yuan when the market opened."

More from Reuters:

“Gold prices on the global market have been rallying strongly and at an increasingly faster pace. The margin hike is a pre-emptive move in case prices crashed and caused great volatility in the market,” said Li Ning, an analyst at Shanghai CIFCO Futures.

 

At a time of market turmoil, exchanges routinely increase the margin requirements to cover the risk of a default.

 

With the SGE’s margin requirement exceeding its daily trade limit, the hike seems aimed at squeezing some speculative froth out from the market, some traders said.

 

The Shanghai Futures Exchange could raise margins on its gold futures contract soon too, said Li.

 

The new margin would require an additional 490.4 million yuan ($76.6 million) to be posted to the exchange.

 

Trading volume on the most popular gold forward contract hit a three-month high of 26,032 grams on Aug. 11, and eased to just shy of 20,000 grams on Tuesday as the exchange finished the afternoon session. The average volume so far this month stood at 14,999 grams, compared to a daily average of 9,138 grams in 2010.

 

The exchange also said it was closely eyeing silver contract price movements and would consider raising trading margins, transaction fees or costs of rolling over forward contracts should volatility persist.

At least the cause is now known. And when the effect from the SGE has been priced in and diluted, it will then be the turn of the CME. Unless of course it is much sooner.

That said, to all those who have been looking for a dip in gold, here it is.

 

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Tue, 08/23/2011 - 16:36 | 1592066 lolmao500
lolmao500's picture

Volatility on silver? WHERE? It's not there. The only ones creating volatility are the bastards at CME and JPMorgue! Hike requirements on THEM...

Tue, 08/23/2011 - 16:43 | 1592097 Hugh G Rection
Hugh G Rection's picture

"Hike their requirements indeed."

 

Anyone know how long Turd's site has been down?

Tue, 08/23/2011 - 16:50 | 1592134 LongBalls
LongBalls's picture

Trying to protect their dollar holdings?

 

Tue, 08/23/2011 - 17:04 | 1592191 Troll Magnet
Troll Magnet's picture

PM's on SALE, Bitchez!!!!!

Tue, 08/23/2011 - 17:14 | 1592230 Cash_is_Trash
Cash_is_Trash's picture

Everything must go!

Tue, 08/23/2011 - 17:20 | 1592251 rocker
rocker's picture

Physical Only !!!  Too many HFTs manipulating everything.

The HFTs have one goal at this level. To take your money before correction.  The can see every dollar going in.

Tue, 08/23/2011 - 21:50 | 1593009 ShouldveLeftHer
ShouldveLeftHer's picture

Hey, anyone notice how Hurricane Katrina started out? Follow the path. Irene starting similar, no real Hurricane has hit East Coast in over a decade. Im from MA, Cape Cod. Everyone here has become stagnant in Hurricane preperation over the past decade. Im predicting another Captains Hook Dirty South style, but the East has felt invincible till todays quake so it would be ripe for the picking. Stay long insurance if you have any, and buy some supplies if youre on the East Coast JIC SHTF but dont count yourselves out in the Gulf. If youre not prepared everywhere for everything youll end up with a bloodu cum dumpster for an ass these days. BTFD.

Tue, 08/23/2011 - 22:12 | 1593122 reader2010
reader2010's picture

I was in Provincetown at the tip of the cape when hurricane andrew hit in 1992. It was like the end of the world.

Tue, 08/23/2011 - 17:18 | 1592245 Turd Ferguson
Turd Ferguson's picture

The site went down at approx 4:30, about 10mins after filing my latest post which discussed the impending margin hikes that I raised as a possibility last evening. Massive DoS attack. Still trying to get it fixed.
Coincidence???

Tue, 08/23/2011 - 17:27 | 1592281 dlmaniac
dlmaniac's picture

Does that mean you've got CIA's attention from now on?

Tue, 08/23/2011 - 17:33 | 1592302 nope-1004
nope-1004's picture

No coincidence Turd.  The alternative reserve currency will be beat down at all costs, right to the end.

However, what I like about these margin increases is that each progressive increase leaves stronger and stronger hands in the game, and each progressive increase has marginally less and less of an effect.  It will go to 100%, for certain.

At any rate, since I don't have a bucket of cash, as I accumulate FRN's, I hold and wait for times like these, then buy and stack.  Like I said before, the Blythe monkey machine is wholly lacking any long term vision.  For that, I am grateful.

 

Tue, 08/23/2011 - 18:18 | 1592436 Smiddywesson
Smiddywesson's picture

I like what Nope seems to be saying.

Parabolic prices are dangerous, not only because prices move too fast and gets overbought, but more importantly, it allows the weak hands to stay in the game and clusters stone cold killers on the other side of the trade.

However, what I like about these margin increases is that each progressive increase leaves stronger and stronger hands in the game, and each progressive increase has marginally less and less of an effect.  It will go to 100%, for certain.

When anyone says gold prices are parabolic, and imply they are dangerous, point out that margin hikes don't factor into the usual trader's rule of thumb.  These are not speculative parabolic prices, regardless of the price curve.

Tue, 08/23/2011 - 19:21 | 1592469 nope-1004
nope-1004's picture

Correct.  Been watching the manipulation for some time.  I was at my terminal watching PM prices that Sunday night in May when markets were closed and the raid began.  Of course, markets needed to be closed.  Can't have an open market to operate within, that wouldn't be fair capitalism, now would it?

Of course, many were kicked out of PM's that night.  But only kicked out of the paper game that Comex was trying to control.  My physical PM's went no where.  In fact, I bought more, as did others I know.  The manipulation and margin increase mantra is having the opposite effect of what is desired, as it only enables the strong hands to acquire more.  I know one individual who sold all his gold after that raid and replaced it with silver, reversed back to gold, then back to silver......

There are many out there smarter than the CME and JPM.  Manipulation will only work if you aren't in the physical game, and actually helps those who are in the physical game.

BTFD.  They are getting desperate.

 

 

Tue, 08/23/2011 - 19:55 | 1592712 nmewn
nmewn's picture

"There are many out there smarter than the CME and JPM.  Manipulation will only work if you aren't in the physical game, and actually helps those who are in the physical game."

Dats a fact ;-)

Tue, 08/23/2011 - 20:24 | 1592776 RockyRacoon
RockyRacoon's picture

Yup!  Raising margins just forces the trade into stronger hands.   Where's the problem?   Nary a peep of this on CNBS today, just a bunch of yelling about how gold is getting crushed.   No real explanation of why other than its "parabolic moves" being unsustainable.   That's code for "bubble".

Tue, 08/23/2011 - 20:36 | 1592805 Hephasteus
Hephasteus's picture

It's a momentum play. The only way to get it to show momentum down is to let it fade up or run up quickly. Which they do. They keep trying to focus the momentum in a downward stage but to do it they have to let the upward stage have it's show. They have to make it bigger and bigger. I mean look. Get people to buy at 1900 and then wake up next day to 1840 gold. They'll be doing it bigger. Get peope to buy 2300 to wake up next day to 2180 gold.

Tue, 08/23/2011 - 21:34 | 1592920 nmewn
nmewn's picture

"Where's the problem?"

Dead on, center mass Rocky...lol.

I'm comfortably in the black (in their fiat terms)...they never ask, how did the dollar fare today? ;-)

Tue, 08/23/2011 - 17:37 | 1592310 caerus
caerus's picture

sucks

Tue, 08/23/2011 - 17:51 | 1592350 Hugh G Rection
Hugh G Rection's picture

Thanks Turd, I was starting to go through withdrawal.  I dont believe in coincidence anymore, keep up the good work!

Tue, 08/23/2011 - 18:08 | 1592407 unky
unky's picture

Maybe its not an DoS attack, just plenty of people informing themselves ;- )

Tue, 08/23/2011 - 18:13 | 1592415 seek
seek's picture

Congrats, your blog is important enough to target now! Really doubt it's a coincidence.

Tue, 08/23/2011 - 16:49 | 1592129 trav7777
trav7777's picture

this article is nonsense...gold was technically overbought and there were a number of us looking to short it.  I had planned to enter short today but the drop began overnight and I just couldn't find my price

Tue, 08/23/2011 - 17:00 | 1592169 Vint Slugs
Vint Slugs's picture

Agree.  Did you catch that turn of phrase:  "the CME's vendetta with silver ...." ?

Tue, 08/23/2011 - 17:10 | 1592190 Libertarians fo...
Libertarians for Prosperity's picture

 

While I was expecting you to blame the gold drop on black people, I was pleasantly surprised to see you didn't.  

Yes, indeed, this article is utter nonsense.  

This article also flies in the face of all the doomer goons who claim that gold is going parabolic due to a loss of faith in the currency.  If/when gold is being hoarded because people are loosing faith in their currency, then the price cannot be easily manipulated by crushing specs with stupid Shanghai margin hikes.  When that news was released, gold only fell $30, then it consolidated in a range for 9 hours, before falling as the day was closing.   

http://www.marketoracle.co.uk/Article30030.html

 

 

Tue, 08/23/2011 - 17:14 | 1592228 trav7777
trav7777's picture

i blame black people for things they are to blame for, moron.

As far as faith in the currency, that's horseshit so far.  I expect that somebody has been printing somewhere, explaining gold's strength in all currencies.  Or maybe everyone is.

Tue, 08/23/2011 - 17:16 | 1592237 Cash_is_Trash
Cash_is_Trash's picture

i blame black people

Hahaha black people are so fucked up! Never will they get their shit straight.

Anyone name ONE country that has a successful black population?

Tue, 08/23/2011 - 17:21 | 1592249 Libertarians fo...
Libertarians for Prosperity's picture

South Africa. 

80% black African, and an incarceration rate less than half the US. 

 

Tue, 08/23/2011 - 17:36 | 1592309 mynhair
mynhair's picture

Was white first.  Been downhill since Mandela.  Just because the police are ineffectual is no reason to tout a hell-hole.  Just ask my new Afikaner new neighbor.

Tue, 08/23/2011 - 18:23 | 1592444 MsCreant
MsCreant's picture

Your pussy is awesome, I hope it continues to grace this blog with its presence.

Tue, 08/23/2011 - 20:27 | 1592786 RockyRacoon
RockyRacoon's picture

I'm going to delete my own comment, Missy, in deference to your more awesome reply.

Tue, 08/23/2011 - 17:46 | 1592315 Dangertime
Dangertime's picture

And where every white family has a razor wire fence around their house.

Try again, I have been to South Africa.

Tue, 08/23/2011 - 17:48 | 1592332 akak
akak's picture

What WilliamtheBastard fails to mention is that EVERY nation on earth has an incarceration rate well less than half that of the USA (shocking, but yes, it is true).  In fact, the incarceration rate in South Africa is above the world average.

William, you truly are a bastard.  Now go change your handle once again so that you can pretend you are a new poster, and not the same old piece of shit posting under his 14th name here.

Tue, 08/23/2011 - 18:22 | 1592442 Libertarians fo...
Libertarians for Prosperity's picture

.....EVERY nation on earth has an incarceration rate well less than half that of the USA (shocking, but yes, it is true....

Not true.  Russia is quite close to US rates, ~85% there.  And Russia is virtually all white.

Secondly, I'm not "WilliamTheBastard."

You guys really are a despicable, loathsome group of people. Bigotry, racism, and bloodlust is just part of the doomer goon culture, isn't it?

Tue, 08/23/2011 - 18:37 | 1592458 akak
akak's picture

Not true.  Russia is quite close to US rates, ~85% there.

So I failed to remember the ONE exception to my earlier claim about the shameful and shockingly sky-high US incarceration rate, which is only the exception that proves the rule.  That still takes nothing away from the fact that your statement regarding South Africa's incarceration rate was disingenuously misleading, as is virtually every one of your truth-twisting and hate-filled comments here.

Secondly, I'm not "WilliamTheBastard."

Go tell it to the the guy yelling at pigeons in the park --- we all know just who and what you really are, you vile, despicable, statist, lying, pro-Establishment sack of shit and hate-filled troll.

Tue, 08/23/2011 - 18:30 | 1592460 MsCreant
MsCreant's picture

If you are really trying to fight racism, I think it would be best to do it without all the hatred. Why should anyone listen to insults and heckling?

I don't approve of the stance of many here regarding race. But many have their reasons for it. Maybe they have been hurt by someone of another race and they over generalized. In my case my family is racist and it does not matter how much I argue. I still love them, no other way to be.

I'm not suggesting you have to love people here (fuck, I can be a real bitch at times) but you would be more convincing to someone like me if you were not spewing hatred all over the screen when you type. People come to the conclusions they come to. Until you take the shame away, there is no chance to heal it. In dissecting my own beliefs, I had to see I inherited it from my family, and it did not mean I was evil. Once the shame is off it, I can look soberly at my beliefs and see what is true and not true vs. blindly defending a point of view I had years invested in.

Of course it helped that I had the priviledge to have people around me from other races that loved, accepted, and at times defended me.

Love does that.

Tue, 08/23/2011 - 20:29 | 1592791 RockyRacoon
RockyRacoon's picture

You ole softy.   I knew it.

Wed, 08/24/2011 - 00:31 | 1593782 MsCreant
MsCreant's picture

UR2SWEET!

Tue, 08/23/2011 - 21:14 | 1592872 Libertarians fo...
Libertarians for Prosperity's picture

MsCreant

On virtually all occasions when someone presents an argument or facts which run counter to the ZH groupthink, it is met with extreme hostility and antagonism. I'm not sure if this is a "doomer" thing, or a libertarian thing, or just a "ZH fight club" thing, but it can't be denied.  Almost without exception, opposing viewpoints are met with vulgarity, hostility and narrow-minded fanaticism which discourages anyone from making counterpoints, unless they're looking for a fight.  Say one thing critical about silver, gold or Ron Paul and watch the sneering jackals circle you with foaming mouths and shit in their palms.  

Besides, do I really care if I offend a bunch of racist and bigoted pigs?  Do I really care if I offend doomer goons who take delight in watching the world burn?  Um, NO - I don't.

Now, I happen to remember ZH from the early days when the community here was full of incredibly intelligent people.  In my opinion, when Tyler started pandering to the silver goons last summer, the intelligent ones got replaced with doomer neanderthals who operate mostly with their lower brain stem. And this place hasn't recovered since.  

All I'm trying to do is make it increasingly difficult for the goons and super-pigs to post their tripe around here.  Perhaps, then, it'll make room for the smart folks who got chased out by the jackals.  If Tyler tells me to tone it down, I'll respect it and comply.  Until then, I will continue to call out the bullshit. 

 

 

Tue, 08/23/2011 - 21:17 | 1592883 tmosley
tmosley's picture

No, you lying shit.  You get attacked when you LIE about those things.  You are a known liar.  When you aren't lying outright, you are warping the truth, like trying to claim that Ron Paul was somehow owned by the banks, even though they contributed less than a quarter of a percent to his 2008 campaign.

You can get the fuck out of here, you pro-tool using motherfucker.

Tue, 08/23/2011 - 21:39 | 1592889 akak
akak's picture

What a loathesome, illogical and hate-filled perversion of a human you are.

There is NOTHING in your posts but blanket generalizations, implicitly pro-Establishment biases, and a rabid and blind hatred for those who are willing to challenge and fight the power elite and their innumerable lies. 

The simple fact is, WilliamtheBastard, you add nothing to any debate, but merely subtract from the levels of intelligence and civility (such as they might be) that already exist here --- just as you have done under your 12 other sock-puppet troll incarnations here.

Many different opinions are routinely responded to here with calm and rational argument.  Your flaming and hate-filled rants, however, are only intended to incite similar negative emotions and kneejerk responses, and you have perfected such flaming to a fine art.  You neither demonstrate respect nor do you deserve it.

Tue, 08/23/2011 - 23:41 | 1593617 DeadFred
DeadFred's picture

Sadly he is very good at it too. Check out how much of the commentary on this post he has hijacked. The banks will give him a bonus this week and maybe send some coworkers for him, probably turning over stones to find them even now.

Tue, 08/23/2011 - 21:38 | 1592944 RockyRacoon
RockyRacoon's picture

ZH from the early days, you say?   What user name did you use then?

Member for
12 weeks 4 days
Tue, 08/23/2011 - 21:42 | 1592962 akak
akak's picture

LOL!

WilliamtheBastard, you have just been hung by your own retard.

Tue, 08/23/2011 - 22:42 | 1593277 tmosley
tmosley's picture

Come to think of it, Johnny Bravo once made a very similar comment.  He sucked up to one of Tyler's responses to his nonsense saying he would "tone it down" if Tyler asked.

Makes one wonder.  It certainly explains his inane hatred of me, if they are the same person.

Tue, 08/23/2011 - 22:50 | 1593327 fuu
fuu's picture

The only thing that is regularly met with hostility is bullshit.

Tue, 08/23/2011 - 23:11 | 1593444 akak
akak's picture
Touche!
Wed, 08/24/2011 - 00:35 | 1593795 MsCreant
MsCreant's picture

You made a good faith effort in your reply to me. I feel it. Thanks. I am afraid you also look like you have missed my point and you may have an agenda (conscious, as the guys suggest, or unconscious).

Sometimes you don't fight at fight club, you just watch and see where it goes.

Carry on Hitler smiley.

Wed, 08/24/2011 - 00:58 | 1593857 trav7777
trav7777's picture

WTF...how about this:  I was never hurt by anyone from another race.  I can't see how you can say "reason" and then emotionalize in the same sentence...oh yeah, you're a woman.

I am stating FACTS, Ms.  FACTS.  Call them "hate facts," as I do...but they are still facts.  And that is what unsettles you the most.  There is nothing in error about any fact I have stated, yet they still seem rayciss.  That would indicate that the problem is on your end.  Facts should not cause you to have this sort of reaction.

I don't know wtf individuals or these people from other races have to do with the generalization.  Individual cases say nothing about valid statistical generalizations (and the converse is true too).

Some of us DO NOT take one or two anecdotes and apply them as generalizations.  In fact, I've known vastly more noncriminal black people than the opposite over the years, but this DOES NOT CHANGE the valid statistical generalization.  It does not change that areas with high concentrations of blacks will have high crime rates.  It does not change that black HS graduation rates are 50% or that herpes infection rates among black women are 50% despite the black women I've slept with not having been infected and the blacks I know all having graduated highschool.

It would be the height of idiocy to PROJECT (as you have done) the traits of the blacks or hispanics or asians or indians or anybody else that *I* know as representative of the larger trends of groups they belong to simply because MY situation is not typical either (nor is yours)!  To understand larger trends, you must simply study them.  I have known a couple of white murderers and one hispanic.  Does this mean that homicides are 66% white and 33% hispanic-committed?  Of course not.  My personal situation is NOT representative and neither is yours.

And love got nuthin to do with that.  Love away, but keep your ass out of black-concentrated neighborhoods if you want to stay unrobbed and unraped.

Tue, 08/23/2011 - 18:38 | 1592478 tmosley
tmosley's picture

Says the bigot who hates all Chinese people.

Get the fuck out of here.

Tue, 08/23/2011 - 20:48 | 1592823 Hephasteus
Hephasteus's picture

"You guys really are a despicable, loathsome group of people. Bigotry, racism, and bloodlust is just part of the doomer goon culture, isn't it?"

Don't be trying to make the doomer goon culture sound more attractive than it already is. It's too magnetic as it is.

Wed, 08/24/2011 - 01:00 | 1593864 StychoKiller
StychoKiller's picture

"Cultured Doomer Goon", sounds like a future moniker for someone! :>D

Tue, 08/23/2011 - 21:24 | 1592890 clymer
clymer's picture

You guys really are a despicable, loathsome group of people. Bigotry, racism, and bloodlust is just part of the doomer goon culture, isn't it?

 

comin' from the tool with the hitler mustache.

 

Don't you have another site to troll? How about Craigslist or 4chan?

Wed, 08/24/2011 - 19:36 | 1597289 Hephasteus
Hephasteus's picture

Jews like to honor hitler. No other race or culture in history ever go so many miles out of one bad guy that they created. He probably killed about a million jews and starved about 200,000 and they padded the numbers like a central banker on cocaine.

Tue, 08/23/2011 - 19:23 | 1592593 kalum
kalum's picture

Maybe all those other countries aren't overwhelmed with illegal criminal Mexican immigrants.

Tue, 08/23/2011 - 19:56 | 1592715 nyse
nyse's picture

...because they gave up trying to prosecute rape.

Tue, 08/23/2011 - 20:23 | 1592777 Party with Berl...
Party with Berlusconi's picture

I don't beleive in the race issue. It is an economic and education issue that affects social behavior for generations. Not with standing my contention, South Africa may have a low incarceration rate but they did have 17,000 deaths by handgun last year and 18,000 attempted murders which makes it #1 in the world. Watch your social stats.

 

 

Wed, 08/24/2011 - 01:04 | 1593871 trav7777
trav7777's picture

then, to be blunt, you're both myopic and stupid.  Both are probably willful.

Black violence rates are higher across all socioeconomic spectra...in fact, rich blacks have crime rates (and average IQs) pretty close to lower-rung whites.

Simple facts.  Economics and education?  Well, you might want to look at adoption studies where ghetto kids are adopted into upper class white familes.  Do you suppose they tend to do as well as their adopted siblings who are naturally born from the parents or do you suppose they trend more toward their biological heredity?  And, on the flipside, east asian kids adopted into white families (again, POOR AS SHIT 3rd world asian kids) tend to do...drum roll...BETTER than the white kids!  Again, nurture or nature?

I've got bad news for you: it's the latter.  Maybe it is epigenetic but it is STILL hereditary.

Tue, 08/23/2011 - 20:26 | 1592779 Party with Berl...
Party with Berlusconi's picture

 

 

 

Tue, 08/23/2011 - 21:06 | 1592851 Libertarian777
Libertarian777's picture

Shit like this pisses me off.
I'm from South Africa.
No I'm not white, nor black.

South Africa is fucked ok. There are no 'successful' black people. All the blacks who fought in the apartheid years have become the new masters. The power elite. All the poor blacks in the townships continue to stay there. Power outages are more common now than ever. Crime is through the roof.

The week I got carjacked 3 other people in my department at work got carjacked. I've had my car stolen twice (over and above the carjacking), my house broken into multiple times, a friend was kidnapped (before she managed to escape). And my experience is not unique by any stretch. We joke about it because we live through it, but put th very real friends and family who die in the back of our minds to stop being depressed.

Mandela was the only effective leader we had. Mbeki, Zuma and rest of the power elite are raping the country. We had a health minister that said, on record, that onions a a good cure for HIV. Fucking ONIONS.

Inflation is over 10%. marginal tax rates at a lofty income of $50k equivalent is 42%. Mortgage rates are 15%. VAT is 15%. Unemployment is on the order of 25% before the recession hit.

Non blacks can't get jobs because they're not black. Apartheid is back, but it's reversed. Like Ron Paul says, if debt is the problem why do you want more of it, so if apartheid is the problem why do we want more of it?

Everyone is entitled to their opinion but unless if you've lived there don't talk shit about an 80% black African country being 'successful'. It has nothing to do with being black, it's about government control of the population. The man in the street in South Africa is as fucked now as 40 years ago. Only now his ruler has the same skin colour, and he can't afford his electricity bill. You no longer work for the 'baas' now you just don't work, period.

Tue, 08/23/2011 - 21:56 | 1593040 ChewButta
ChewButta's picture

Hey "broer",

Moved down south USofA in 2004.  SAers here in gulf FL took me under their wing the first week here.  Met the first by happenstance, and he brought me into the fold.  Springbok shots, rugby, potjie, beer. and more beer.  Fine group of "mates".  They all came here on a green card; first step to US citizenship.  Most if not all got it.  Just wanted to tip my hat.  They've told me the stories.  

Friend's folks came in from SA for his wedding.  First thing they asked me was if I could make them some chili.  For huge meat lovers like you all, it was a hell of a compliment.

Cheers,

ChewButta 

Wed, 08/24/2011 - 00:50 | 1593844 trav7777
trav7777's picture

ROTFL...South Africa?  With a homicide rate higher than that in IRAQ during the war?  WTF are you smoking, crackhead?

DeathofJohannesburg blog...look at that shit...there is your success?  Where?

Incarceration rate low because the police do SHIT.  Murder rate twice as high as even Detroilet, and then some.  South Africa WAS a success just like Rhodesia WAS.

Tue, 08/23/2011 - 18:02 | 1592385 smlbizman
smlbizman's picture

montgomery county maryland.....oh wait does federal employment count?

Wed, 08/24/2011 - 01:08 | 1593883 trav7777
trav7777's picture

not when the federal gov't disproportionately promotes blacks on the basis of skin color.  The black middle class in the USA is an artificial gov't creation.  And, Obama just froze hiring for white people.  Well, he didn't say that, he froze hiring until more diversity could be promoted.  Simple problem though is that blacks are grossly OVERrepresented on the federal payroll.  In some agencies, they occupy half the positions (inc GSEs like FNM and FRE).  But Mont Cty isn't majority black...PG might be and now it's a clusterfuck

Tue, 08/23/2011 - 18:48 | 1592507 Hapte
Hapte's picture

I laughed out loud at your post, you're a true modern-day minstril m'boy! Keep jiving for me, I've always been fascinated by your depraved culture.

Tue, 08/23/2011 - 19:31 | 1592613 SilverDOG
SilverDOG's picture

ERITREA.

Look it up.

NE Africa.

Tue, 08/23/2011 - 17:23 | 1592261 Libertarians fo...
Libertarians for Prosperity's picture

No.

You blame black people for all sorts of bullshit, and I repeatedly called you out on it.  Your response is always the same: crickets.

 

Wed, 08/24/2011 - 01:09 | 1593885 trav7777
trav7777's picture

you keep pissing into the wind against me RNR...you had your chance with the cards and blew it; just not fast enough.

You call me out on nothing, boy

Wed, 08/24/2011 - 02:57 | 1594088 Max Fischer
Max Fischer's picture

 

<removed by the administration>

Max Fischer, Civis Mundi

 

 

 

 

 

 

 

 

Wed, 08/24/2011 - 02:52 | 1594095 Libertarians fo...
Libertarians for Prosperity's picture

I'm the only one on this forum that's had you tied to a rotisserie, lathered in bbq sauce, match in hand; just because you wiggled out of the rope while I was filling the kerosene tank doesn't mean shit.

Man to man...  you know I got you.  Nailed you. And I'll do it again.  

No tricky roadrunner shit next time, barrister.

Wed, 08/24/2011 - 08:26 | 1594475 prole
prole's picture

Smiley Stupid has officially lost touch with reality. 

Wed, 08/24/2011 - 23:58 | 1598057 fuu
fuu's picture

Took a while to find it but I understand now.

 

http://argos.zerohedge.org/article/full-criminal-complaint-and-affidavit...

Tue, 08/23/2011 - 19:40 | 1592652 SilverDOG
SilverDOG's picture

Blame is for those who are far to cowardly, to accept responsibility.

When speaking about races, time fuels irresponsible blame. 

Garnered misgivings are not readily forgotten.

Tue, 08/23/2011 - 17:07 | 1592200 Pladizow
Pladizow's picture

Wow - you are stupid and full of shit!

Tue, 08/23/2011 - 17:16 | 1592236 trav7777
trav7777's picture

are you talking to ME, jackass?

Gold had a 14-period RSI in excess of freakin 80.  It was making a 2nd top on clear technical divergence from the previous one.  Simply a matter of moving too far, too fast.  In fact, I said this on the gold thread YESTERDAY.  If you were paying attention, you could have made a lot of that worthless fiat which gets you more stupid silver Eagles yesterday than today

Tue, 08/23/2011 - 17:31 | 1592282 Pladizow
Pladizow's picture

Wow - now you are even more stupider and fullerer of shit!

Yeah, you were going to short gold and then you realized just how stupid and full of shit you are!

Tue, 08/23/2011 - 17:39 | 1592320 Dangertime
Dangertime's picture

Do not bother Trav.....they will never get it.

However, I am not convinced this run-up is over.  You may yet get your chance to short it....

Tue, 08/23/2011 - 17:41 | 1592326 Pladizow
Pladizow's picture

Yeah Travvvvvvvvvvvvv, dont bother - you are too stupid and full of shit!

Tue, 08/23/2011 - 19:03 | 1592542 kito
kito's picture

@danger---get what? that weak hands have a part in the current run up, but that over a longer period of time the true value of gold and silver will be reflected in its continued rise as more and more physical will be purchased by the awakening world?

Tue, 08/23/2011 - 20:57 | 1592838 Dangertime
Dangertime's picture

Do not get that gold can correct, just like silver.

People get blasted for suggesting such things.....even though they are true.

Tue, 08/23/2011 - 21:10 | 1592869 akak
akak's picture

But just like that disingenuous, lying, pro-bankster shill Jon Nadler, you invariably and ONLY seem to post here to suggest, insinuate and warn that the price of gold is inevitably going to fall --- even as it continues its LONG TERM upward trend, mirroring the dollar's unbroken and accelerating fall.  You seem to delight in naysaying gold's potential to save one's savings from inevitable and ongoing currency depreciation, and mislead and misdirect others away from it, rather than honestly leading them towards it.  You, sir, are a gold-hating troll, as any cursory search of your posting record here will attest.

Tue, 08/23/2011 - 17:42 | 1592330 kito
kito's picture

"stupid silver eagles" trav? what gives?

Tue, 08/23/2011 - 18:28 | 1592455 Smiddywesson
Smiddywesson's picture

Anybody notice that Trav is perfectly reasonable most of the time, and very sharp I might add, and then he launches into SuperTrav and releases beat down on everything and everyone?  Trav cannot be controlled.  He is a force of nature baby.

Tue, 08/23/2011 - 18:37 | 1592472 MsCreant
MsCreant's picture

I love what I love too Smiddy! Have you met Chumba yet? He is like that, quarrelsome and awesome!

I've enjoyed you around here. I have been keeping your point of view on Gold in the back of my mind when I consider what to do next. Not that I am sold you are right (I am sold on very little and stay, perhaps too much so, very open), but it is one of the hypotheses I am now running when I look at the landscape before us.

Thanks for your posts.

Tue, 08/23/2011 - 19:13 | 1592565 weinerdog43
weinerdog43's picture

He is a force of nature baby.

So is diarrhea.

Tue, 08/23/2011 - 23:49 | 1593653 DeadFred
DeadFred's picture

It's all about the meds, which ones he took and which ones he missed.

Wed, 08/24/2011 - 01:15 | 1593892 trav7777
trav7777's picture

LOL...I like that.

But, the reality is that I go with the TRUTH irrespective of its popularity.

Look at my junk rating for suggesting gold was technically overbought...it WAS.  It's inarguable that it was.  It needed to correct. 

These same idiots were frothing with mosely-claven over silver and MANY of us were warning them not to jump into that pool headfirst, but to wait a bit.  And they bit our heads off.  And then look what happened.  The clavens were wrong, and they led fools off a cliff.  Had those pumpers simply said wait for the correction, they'd have gotten their lemmings WAY more physical silver for their fiatscos.

ZH has its own orthodoxy and its own set of echoes in the chamber.  At times I may hold a opinion (based on truth) which is consistent with this orthodoxy and at times I may not.  It is not that I am being unreasonable; it is that you suddenly do not want to hear the truth.

Wed, 08/24/2011 - 08:29 | 1594480 prole
prole's picture

They can't handle the truth!

Tue, 08/23/2011 - 19:44 | 1592676 Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

No question gold market moved "too far, too fast".  Retracements are good for overall health of a bull market.  Back and fill is okay. Just remember our success depends on the stupidity and evil of government.  If that is not a ticket for success none exists!                Tuco

Tue, 08/23/2011 - 17:37 | 1592311 caerus
caerus's picture

put my shorts back on this morn...

Tue, 08/23/2011 - 17:53 | 1592356 FreeNewEnergy
FreeNewEnergy's picture

Kindly remove Jamie Dimon's cock from your mouth before speaking.

Tue, 08/23/2011 - 21:21 | 1592402 gunsmoke011
gunsmoke011's picture

Not sure if it was a complete coincidence or not - but last night on FOX Business Channel - they interviewed Richard Fisher (Dallas Fed President). At the beginning of the interview - gold was trading up about 15 bucks -- by the time the interview concluded - gold was up about 4 bucks. In the interview - he was asked what Ben would be saying at jackson Hole this week - he sort of smiled and said to watch it and see - BUT - that role of Ben Bernanke and the FED was not to play like they were the Easter Bunny and go around leaving presents in everyones baskets.

Just a FWIW analysis - I read that to mean there will be no announcement of any QE 3 - which i think the markets are going to be very disappointed with. To take it a step further - I think today's gold drop will be short and sweet as people will once again go to it in the "Risk Off" trade. Treasuries are cooked so where else are you going to put money?

Go to about minute 4 in this clip and everyone can see what their takaway is

http://video.foxbusiness.com/#/v/1124535209001/feds-fisher-previews-jackson-hole-meeting/?playlist_id=87247

Tue, 08/23/2011 - 20:53 | 1592835 DCFusor
DCFusor's picture

For once I agree with you Trav.  And no, I don't come back and obsess over how many people click the red arrow.  Why should I care?

Tue, 08/23/2011 - 16:52 | 1592141 Silver Bug
Silver Bug's picture

Agreed, they are blatantly creating the volatility. I understand that the brokers need to protect themselves. This is done by one margin hike, not a chain gun reaction of margin hikes. That is blatant manipulation. Fear not as all this is going to do is push it down in the short term. Create a buying opportunity and move the physical into stronger hands. Stand and Deliver!

 

http://silverliberationarmy.blogspot.com/

Tue, 08/23/2011 - 19:24 | 1592215 akak
akak's picture

And correct me if I am wrong, but if the Shanghai Gold Exchange sets its margins as a PERCENTAGE of the gold spot price (as is apparently the case), instead of as a fixed dollar figure as does the CME, then what possible legitimate reason can it have to raise its gold margins AT ALL, regardless of a rising spot price?

Tue, 08/23/2011 - 22:46 | 1593302 tmosley
tmosley's picture

No, they still have legitimate reason to raise or lower margins based on volatility (ie the sum of the absolute value of the moves during any given period).  If the volatility gets so high that their margin requirement can get wiped out in a single trading day, or even in an hour of trading, then they have legitimate reason to raise it.

I am reserving judgement on this.  Those guys haven't shown an obvious manipulative pattern (yet), like the COMEX did with the daily rate hikes.  Until I see that clear evidence, or statistical analysis of the period leading up to and after said margin hikes, you can't really say.

Tue, 08/23/2011 - 17:03 | 1592181 sunnydays
sunnydays's picture

Rothschild is one of the owners of the exchange, so is it any wonder the manipulation of metals and stopping their rise will also happen there?   Same people behind both exchanges so they will both work together to keep it down. 

Tue, 08/23/2011 - 23:32 | 1593565 Botox4U2
Botox4U2's picture

A little birdie in Venezuela told me he thinks Chavez will get his gold sooner than expected and then he will start making moves on silver probably buying huge amounts of it and having it delivered to Caracas.  He might be in for a surprise since it is a fact that there isn't that much around in deliverable physical

Tue, 08/23/2011 - 16:38 | 1592073 fonestar
fonestar's picture

Speaking of such, what ever happened to the HKMerc to the rescue of silver idea?  I guess they don't have the volume yet to really make a dent?  Or is there any more word on whether they are just another front for the cabal?

Tue, 08/23/2011 - 16:38 | 1592075 Josh Randall
Josh Randall's picture

Slam it so I can buy more! Same $hit different continent

Tue, 08/23/2011 - 16:49 | 1592128 Aguadulce
Aguadulce's picture

Buy gold, buy SDS...tomorrows winners fo sho.

Tue, 08/23/2011 - 16:38 | 1592077 Nascent_Variable
Nascent_Variable's picture

Apologies for going off topic, but I just found this story.

"The crisis threatening the global financial system exceeds the capabilities of developed nations and requires a new International Monetary Fund 'debt facility,' former IMF head H. Johannes Witteveen said."

http://www.bloomberg.com/news/2011-08-23/crisis-too-big-for-developed-wo...

Tue, 08/23/2011 - 16:43 | 1592099 my puppy for prez
my puppy for prez's picture

creepy....

Tue, 08/23/2011 - 18:17 | 1592428 Calculated_Risk
Calculated_Risk's picture

yes! only the super brains in super congress with the super uber president, and extremely super imf brains can fix this!

 

fucking gag! these elitist fuckwads!

Tue, 08/23/2011 - 19:39 | 1592651 Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

Old deminati playbook:  PROBLEM, REACTION, SOLUTION to consolidate power and bring in a New World Order and one world currency.

Tue, 08/23/2011 - 16:38 | 1592078 Don Smith
Don Smith's picture

BTMFDFTMFW!

Tue, 08/23/2011 - 16:38 | 1592079 theMAXILOPEZpsycho
theMAXILOPEZpsycho's picture

Love to see silver back in the 30s, it would be worth a little options play on december futures at 38.50 or so

Tue, 08/23/2011 - 22:03 | 1593077 Fiat2Zero
Fiat2Zero's picture

If you want to see silver in the 30's I'm afraid you'll need a "hot tub time machine."  But you wouldn't have to go back that far in time.  No, the basing at 39 is pretty strong, and demand is getting stronger all the time.  It's decoupling from commodities (like oil), being recognized as a monetary metal, by all Asians and Indians, and finally by people on this blog.

Tue, 08/23/2011 - 16:39 | 1592080 Jackson A-Hole
Jackson A-Hole's picture

BTFD!

Tue, 08/23/2011 - 17:20 | 1592253 Mesquite
Mesquite's picture

Right on...Merely brings it (Au) down to the lower trend line..

So those not already in can get some.. Nice..

Can be Grateful for these buy ops..

Tue, 08/23/2011 - 16:39 | 1592083 achmachat
achmachat's picture

shake those weak hands out! shake, shake, shake!

Tue, 08/23/2011 - 16:39 | 1592084 pazmaker
pazmaker's picture

How is Shanghai preparing to crush silver?  I see it in the headline but don't see anything in the article alluding to that?

Tue, 08/23/2011 - 16:43 | 1592098 Tyler Durden
Tyler Durden's picture

"The exchange also said it was closely eyeing silver contract price movements and would consider raising trading margins, transaction fees or costs of rolling over forward contracts should volatility persist."

Tue, 08/23/2011 - 16:46 | 1592113 pazmaker
pazmaker's picture

Thanks Tyler...sorry  I promise I really did read it!!   Don't know how I missed that!

Tue, 08/23/2011 - 17:29 | 1592289 spiral_eyes
spiral_eyes's picture

raising margins and crushing silver aren't the same thing. this isn't bunker hunt buying on margin. it's not gonna make any difference. this is fuckloads of people sick of the zirp and near-zero treasury yields rushing into the last haven left — PMs.

Tue, 08/23/2011 - 17:50 | 1592348 I did it by Occident
I did it by Occident's picture

Yeah, but my question would be what is the half-life of their intervention?  I'm thinking the cycle sure is speeding up.  Like when Japan and Swiss intervened in their currencies which took only a few days to erase. 

 

Tue, 08/23/2011 - 17:40 | 1592319 dumpster
dumpster's picture

nobody reads any thing

and blame  the gods of spitting on sand

from the lips of an expert

to the ears of the wanna be...

Dear CIGAs,   on the 12th of aug

1. Those holding gold to hedge the systemic risks of the Western financial world simply stay in your position.
2. Traders lighten up your positions as gold approaches the next two Angels.
3. No market fails to have reactions at some point.
4. Reactions in this market will be deep, but brief when they occur.
5. The undervaluation of good gold shares has passed manic.
6. Utilization of some of your gold profits into good gold shares is pure logic.

Respectfully,
Jim

Tue, 08/23/2011 - 18:34 | 1592468 Smiddywesson
Smiddywesson's picture

"The exchange also said it was closely eyeing silver contract price movements and would consider raising trading margins, transaction fees or costs of rolling over forward contracts should volatility persist."

Myopic, margin hiking, yellow skined bitchezz!

Tue, 08/23/2011 - 16:40 | 1592087 dwdollar
Tue, 08/23/2011 - 16:41 | 1592091 Eagle Keeper
Eagle Keeper's picture

Drive it down baby! I need some more...

Tue, 08/23/2011 - 16:55 | 1592148 Cash_is_Trash
Cash_is_Trash's picture

Agreed!

In the long-term, we're all broke, right Keynes?

Tue, 08/23/2011 - 16:42 | 1592092 kito
kito's picture

its ok. sooner or later, the only trading in pms will be all "cash" transactions. the only pm "trading" market to exist will be that which lets one "trade" his gold for food, guns, land, etc.....let them have their silly margin hikes....just gets us to where we need to be faster.....

Tue, 08/23/2011 - 16:42 | 1592093 spiral_eyes
spiral_eyes's picture

margin hikes are a load of shit. are people buying gold cause they're speculating on margin? nope, they are buying gold because of sovereign leverage, dollar debasement, the fiat race to the bottom, the zero interest rate policy, U6, the trade deficit to china, the deindustrialisation of the united states, reliance on arab oil, etc, etc, etc. 

this could knock gold back for a week, at most. then market forces will take it up. BTFD. 

Tue, 08/23/2011 - 17:21 | 1592258 DaveyJones
DaveyJones's picture

The more they show their hand the more obvious the problems. They work against themselves

Tue, 08/23/2011 - 16:42 | 1592094 reader2010
reader2010's picture

Biden along with his grand daughter did his job right in Beijing.

Tue, 08/23/2011 - 17:02 | 1592179 Hugh G Rection
Hugh G Rection's picture

Ya. I guess Biden's grand daughter sat on the right Chinese Eggrolls...

Tue, 08/23/2011 - 17:07 | 1592199 reader2010
reader2010's picture

No. She was introduced to one of princlings as possible mate to sweeten the deal? After all, there is no wasting any taxprayers' money at all. 

Tue, 08/23/2011 - 16:42 | 1592095 Nothing To See Here
Nothing To See Here's picture

Buying PMs on margins amounts to supporting the system. I buy my PMs with cash on hand. When everyone else does the same, margin hikes will be as irrelevant as Paul Krugman.

Tue, 08/23/2011 - 16:47 | 1592119 Max Hunter
Max Hunter's picture

Zackly!!

Tue, 08/23/2011 - 16:44 | 1592105 Sudden Debt
Sudden Debt's picture

WE WANT CHEAP GOLD AND SILVER!!

before the lemmings get it :)

 

Tue, 08/23/2011 - 16:44 | 1592107 digalert
digalert's picture

.

Thanks for the info

I'm actually waiting for word from the Treasonous Bernank.

The message won't affect whether I buy or not, only the time I've got left to aquire.

Tue, 08/23/2011 - 16:45 | 1592108 LookingWithAmazement
LookingWithAmazement's picture

A Comex or LBMA crash is a myth: 99% of the speculators don't want physical. They just want online paper buying & selling and when there's shortage of coins & bullion, or a hike, they just sell their fractional stuff and take profits. Even the new Shanghai Gold Exchange does not drive up prices, but drives them down. So will Hong Kong's. Will there be a run again on paper gold & silver after the hikes and when they're crashed? Yes, but the margin hike-story will repeat itself. No silver to 100$, no gold to 5.000, 12.000 or even 20.000$ (Mike Maloney). I don't believe all the collapse-horror-stories no more. Said before: it's a boring world.

Tue, 08/23/2011 - 16:54 | 1592146 kito
kito's picture

I don't believe all the collapse-horror-stories no more.

@amazement

double negative, which, in fact,  means you do believe them.

take a look at some of the coin websites and explain why, if this is paper driven, the vig on gold eagles are soaring.

take a look at the amount of central bank buying of gold. how does that factor into gold prices?

the price of pms are not based on the comex my friend. they are based on real world purchasing.

Tue, 08/23/2011 - 17:09 | 1592209 spiral_eyes
spiral_eyes's picture

or as yoda would say: no more, i don't believe the collapse horror stories

i.e, BTFD 

Tue, 08/23/2011 - 17:16 | 1592240 DonnieD
DonnieD's picture

Does anyone keep track of the spread between spot and offered price on some of the major sites? On Apmex, for instance seems, the spread seems to be widening but I haven't kept track. Perhaps I'm delusional.

Tue, 08/23/2011 - 19:34 | 1592627 Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

Yes, premiums for gold in particular are increasing causing spreads to increase.

Tue, 08/23/2011 - 20:37 | 1592807 RockyRacoon
RockyRacoon's picture

That doesn't mean he's not delusional as well.  

Tue, 08/23/2011 - 20:49 | 1592828 DonnieD
DonnieD's picture

Some days it's worse than others.

Tue, 08/23/2011 - 17:30 | 1592293 Mesquite
Mesquite's picture

Some folks minds are made up...

No sense trying to confuse 'em with facts..

 

Tue, 08/23/2011 - 16:58 | 1592162 goldfreak
goldfreak's picture

is this the new troll? A boring world indeed!

Tue, 08/23/2011 - 17:20 | 1592254 New_Meat
New_Meat's picture

debasement of the trollz? debasement of the currencies? meh! - Ned

Tue, 08/23/2011 - 17:00 | 1592170 tmosley
tmosley's picture

Silver more than doubled last year.  You're saying there is absolutely no way it could ever happen again?  

Also, I notice that you didn't say anything about gold never reaching $2000.  It wasn't long ago that that was considered an impossible level.

Funny how you say on one hand that a Comex or LBMA crash is a myth, while on the other claiming that Shanghai and HK are pushing down the price of the metals.  DOn't you know what the end result of ANY form of manipulation is?  An explosion in the opposite direction!  If they are manipulating PMs down, then that means the time to get long is NOW.  If they were allowing the market to decide the price, then you can do what you like and be fairly confident of a reletively stable market.  But the fact is that if these organizaitons are supressing prices AS YOU YOURSELF CLAIM THEY ARE, then there will, by definition, be an extreme market reaction in the opposite direction at some point.

Tue, 08/23/2011 - 17:20 | 1592252 akak
akak's picture

Your logic is impeccable, tmosley, but the gold-hating trolls and servile minions of the power elite never let logic, reason or facts get in the way of their tiresome repetition of pro-Establishment talking points and lies.

Tue, 08/23/2011 - 21:02 | 1592852 Smiddywesson
Smiddywesson's picture

Well thought out Tmosley, but you might as well recite it for your bathroom tile while you shower, nobody who has rejected reality will listen to you.  

Tue, 08/23/2011 - 21:25 | 1592893 tmosley
tmosley's picture

I am never concerned with the people I attack.  I am only concerned with those who might be swayed by these silver tongued devils.  I will fight them everywhere I see them so that other readers see their stupidity, hypocrisy, and outright lies.

Tue, 08/23/2011 - 21:37 | 1592926 akak
akak's picture

That is exactly why these lying, disingenuous, misleading and misrepresenting mouthpieces for the power elite enrage me so much as well.  Individually, they are merely babbling idiots and/or shills for a corrupt, evil and collapsing sociopathic power structure, but their lies and pro-Establishment propaganda are not just read by those of us who post here, but almost certainly by a vastly larger audience, more easily swayed, who do NOT participate in these threads, but who regularly read them nonetheless.  THEY are the ones who are the real targets, and the real victims, of the malicious and malevolent lies spewed by the PM-hating, central bankster and fiat-loving trolls in this and other online forums.

Wed, 08/24/2011 - 01:19 | 1593899 trav7777
trav7777's picture

you fucking bitch, you led those people OFF A FUCKING CLIFF at $50.

It's taken HOW MANY months to crack 40 again?  Dead money- they would have been better-served by saving their fiatscos and trading them in for silver which is miraculously STILL available when it bottomed in the low 30s.

Reading you cast yourself as fuckin ZORRO or some kind of hero to the sheep...wtf.  You are their worst enemy- a fool leading the blind.

Tue, 08/23/2011 - 17:14 | 1592229 Pladizow
Pladizow's picture

To: LookingWithAmazement

So how large is youir short position?

If you dont have one, dont offer any excuse and simply STFU!

Tue, 08/23/2011 - 20:32 | 1592800 LookingWithAmazement
LookingWithAmazement's picture

No short position. Somebody is short in gold, as I cited yesterday.

Tue, 08/23/2011 - 17:25 | 1592268 Sudden Debt
Sudden Debt's picture

Buy stocks than or put your money in a savings account that gives you 1% per year.

My physical has did a bit better than that, but oké, your checking account at a bank is much more safe...... .......

 

Tue, 08/23/2011 - 18:03 | 1592391 Fiat2Zero
Fiat2Zero's picture

That's just it, the Traders are on their way out.  It's about demand for physical.  Margin hikes are having less and less of an effect - except for the fact that there are always a ton of new people who just got in at the (local) top, crying as gold and silver plummet.  Volatility - deal with it.  Not believing in collapse horror stories is to close your eyes to basic facts, as we are on the cusp of major bank failures in the US and Europe, with new events every week (Greek bank bailed out, Italian banks plummeting, BAC on the verge).  To not believe in collapse, at least of the banking system, would be simply ignoring basic facts.

The fractional game is drawing to a close.  I can't tell you how much longer it will go, but it is going to wipe a lot of unsuspecting people out.

5K, 12K, 20K - this all depends on how much money we print.  Gold, the universal monetary hitching post, can be said to be constant, while the fiat currencies rapidly inflate M2 globally.  It's easy to make a number go to infinity if the denominator is going to zero (the intrinsic value of paper and ink).

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