• Steve H. Hanke
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    Authored by Steve H. Hanke of The Johns Hopkins University. Follow him on Twitter @Steve_Hanke. A few weeks ago, the Monetary Authority of Singapore (MAS) sprang a surprise. It announced that a...

Safety Flows Redirect From Facebook To Precious Metals As Europe Implodes

Tyler Durden's picture


With Facebook down over 3.5%, it appears the only real safe haven from Europe's catastrophe headline-fest is the precious metals complex. Gold and Silver are surgiung as Europe closes.

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Mon, 06/25/2012 - 12:10 | 2558272 Glasgow Gary
Glasgow Gary's picture

Gold and silver: get you some.



Mon, 06/25/2012 - 12:13 | 2558277 LawsofPhysics
LawsofPhysics's picture

Yes, physical, not paper.  No one believes the paper promises anymore.  Hell, copper may be a buy at this point.  Mr. copper has certainly been a leading indicator of many things lately.  Welcome to the post-growth world, bitchez.

Mon, 06/25/2012 - 12:18 | 2558308 DoChenRollingBearing
DoChenRollingBearing's picture

@ Glasgow and Laws, + $55,000

You guys get it.  Others will soon.

"All else will be left behind when the Gold Mothership takes off."

-- ZH member Gordon_Gekko

Mon, 06/25/2012 - 12:23 | 2558349 Rahm
Rahm's picture


Mon, 06/25/2012 - 12:26 | 2558366 LawsofPhysics
LawsofPhysics's picture

Correct.  The deflationary collapse is near an end and once all that "free" money starts flooding back to commodities, coupled with a lack of faith in all paper (BRICs already trading their own currency and commodities), then the hyperinflationary collapse will begin.  TPTB have lost control and The Fed will never let their books see the light of day (just like any other criminal organization).

Mon, 06/25/2012 - 14:10 | 2558763 The Big Ching-aso
The Big Ching-aso's picture



U can wipe your ass with paper & U can wipe your ass with gold butt one's a lot easier than the other.

Mon, 06/25/2012 - 14:23 | 2558913 agrainvest
agrainvest's picture

...and precious grains...

Mon, 06/25/2012 - 12:35 | 2558406 holdbuysell
holdbuysell's picture

Nickels have copper in them. At a discount, too. Just ask Kyle Bass.

Mon, 06/25/2012 - 12:13 | 2558283 HoofHearted
HoofHearted's picture

I was all over it all weekend, stacking as much as I could...with fear and trepidation that something would go wrong for my thesis (and thus right for the financialization of the rest of the world???) But thanks to Cyprus, Greece, and all their buddies still being broke- and trying to get Merkel to go with them- all is well in the HoofHousehold.

Mon, 06/25/2012 - 12:20 | 2558320 sunaJ
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* sunaJ and 6 billion others 'like' this.  Sign up and find out what your friends think.

Mon, 06/25/2012 - 12:20 | 2558327 vast-dom
vast-dom's picture

finally reality is lining up with my calcs. only thing that could subvert reality now is The Fed.......

Mon, 06/25/2012 - 12:22 | 2558336 LongSoupLine
LongSoupLine's picture



What?!?!...Facebook isn't the "other" currency??

Mon, 06/25/2012 - 13:00 | 2558513 silverserfer
silverserfer's picture

got me two grams of AU this weekend camping, panning, and enjoying the great outdoors. the perfect weekend!

Mon, 06/25/2012 - 14:47 | 2559025 MarsInScorpio
MarsInScorpio's picture

There is a reason why the Central Banks all want precious metals . . . and why the European banks want all of that belonging to the debtor countries.


How someone can say in light of this reality that it is only for persecuted Jews in 1930s Vienna (anti-Semitism anyone?) escapes me.


Dear Warren,


I am a barbarian Jew living my reality in 1930s Vienna. I have some places left in my clothing to sew gold coins, and since your partner (In more ways than one? Who is your wife, anyway? I never hear mention of her . . .), said that only people like me want gold, I thought you'd appreciate this opportunity to get rid of yours.


Now I know every Central Bank in the world hordes gold, and that the Red Chinese can't get enough of it - barbarian ChiComs that they are - and that you couldn't get the Fed to let anyone ship their nation's gold-in-holding from 33 Liberty under any circumstances - since who knows if it is even really there any more - you know, those nations that stash their cash in the underground vault are just holding paper certificates and the entire stash has never been audited, so who knows for sure that it all adds up - but any way, I'd hate for you to appear barbaric yourself, so how about doing a favor to your own international image and we'll just keep it quite that you ever had the gold in the first place.


Please let me know when I can arrange a Brinks armored truck for the transfer, along with a sizable contingent of off-duty SWAT Team state troopers to escort it. I promise I won't tell anyone I have it, or where I got it.


Your admiring barbarian,




Mon, 06/25/2012 - 12:13 | 2558282 MsCreant
MsCreant's picture

Fat gold finger!

Edit: Middle finger that is...

Mon, 06/25/2012 - 12:18 | 2558307 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Fat something that looks like a finger.

Mon, 06/25/2012 - 12:33 | 2558399 CPL
CPL's picture

Hendrix Sausage...for that time you need a big salty treat.




Japanese have decided that TV stations need to get turned off during daylight hours in the meanwhile.  So if anyone had any new media ideas on or TV holding you might want to consider pounding the sell button.



Mon, 06/25/2012 - 12:22 | 2558338 Chaffinch
Chaffinch's picture

Gold up! silver up! The sun has got his hat on!

You've gotta love the bots writing 'headlines' on a day like today. As I type the CNN world markets robot says 'North American Markets are mixed today...' - when I looked at the detail this is because Mexico (maybe on the back of its silver mines?) is up 0.12% whilst the Dow etc are all down 3.00% or thereabouts!


Mon, 06/25/2012 - 13:03 | 2558526 silverserfer
silverserfer's picture

yeah its really wierd seeing silver go up whilst  the dow go down. It almost makes you think for a second that there is organic unmanipulated market movements! Somebody slap me across the face now! 

Mon, 06/25/2012 - 12:13 | 2558284 Abraxas
Abraxas's picture

Sanity has not be completely lost it seems.

Mon, 06/25/2012 - 12:37 | 2558305 bdc63
bdc63's picture

I'm sure this is just some crazy mistake ... JPM will be in to correct it any moment now ...

Mon, 06/25/2012 - 12:15 | 2558289 jcpicks
jcpicks's picture

(physical) Gold and silver bitchez!

Mon, 06/25/2012 - 12:15 | 2558291 The Swedish Chef
The Swedish Chef's picture

Looks like someone got a sneak peak on the downgrades...

Mon, 06/25/2012 - 12:15 | 2558294 EscapeKey
EscapeKey's picture

What we need is more fraud, collusion, and Wall Street corruption, so the issues can be papered over for another year or two, thereby solving the problem once and for all.

Mon, 06/25/2012 - 12:20 | 2558321 DoChenRollingBearing
DoChenRollingBearing's picture

Yes, that'll do it, + 1

Forgot /sarc though, LOL...

Mon, 06/25/2012 - 12:37 | 2558410 sosoome
sosoome's picture

I'm relatively new around here, and one of the things I like most is not seeing  "/sarc".

just me i guess...

Mon, 06/25/2012 - 15:39 | 2559221 terryfuckwit
terryfuckwit's picture

yes it must be american that ... no where else in the world would you qualify sarcasm with a notice "/sarc" totally defeats the object. The fun is the responses from those who do get it and those that don't.....

but then again no where else in the world has as good financial journalism as ZH.../sarc on.../sarc off... WTF???

Mon, 06/25/2012 - 17:15 | 2559505 fuu
fuu's picture

/the sarcer

Mon, 06/25/2012 - 12:16 | 2558298 CcalSD
CcalSD's picture

FailBook 2.0

Mon, 06/25/2012 - 12:16 | 2558300 IndicaTive
IndicaTive's picture

 Bank Run! For me anyway. Right after lunch.

Mon, 06/25/2012 - 12:19 | 2558313 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Your cash is safe in US banks because we can print as many dollars as we want to!

Mon, 06/25/2012 - 12:21 | 2558331 DoChenRollingBearing
DoChenRollingBearing's picture

TAKE the green cash out of the banks (fiat$ > electrons at the bank), and buy PMs.

Mon, 06/25/2012 - 12:16 | 2558301 slackrabbit
slackrabbit's picture

just did 'scooter' ...well when canada opened i 'catched a ride'....i would be happy, but we know most friends and family wont listen.

Mon, 06/25/2012 - 12:17 | 2558306 Ms. Erable
Ms. Erable's picture

Hoping that I haven't missed the (short-term) bottom in Ag; expecting the monkey-hammering in a couple of hours...

Mon, 06/25/2012 - 12:18 | 2558310 derek_vineyard
derek_vineyard's picture

i bought some 9mm and 45 cal handguns to beef up my cache

Mon, 06/25/2012 - 12:19 | 2558311 firstdivision
firstdivision's picture

The Fed's back is getting towards the wall.  Watch as they do the only special manuver they know; down,down, up, left, right, right, A, B, A, A, Ctl+P.

Mon, 06/25/2012 - 12:25 | 2558357 Pantafulius
Pantafulius's picture

Its: Up, Up, Down, Down, Left, Right, Left, Right, B, A, B, A, Ctl-P.

Voila!  Unlimited dollars!

Mon, 06/25/2012 - 13:19 | 2558590 Alpo for Granny
Alpo for Granny's picture

Ho ha ha guard turn parry dodge spin ha thrust..PRINT!!!



Mon, 06/25/2012 - 12:19 | 2558315 BlackMagician
BlackMagician's picture

No No No...must buy more first. Stay low silver a couple more years so that I can use my JP Morgan 15000 limit card to buy buy buy...tee hee

Mon, 06/25/2012 - 12:19 | 2558318 fuu
fuu's picture

Pretty sure some folks were suggesting BTFD last week, last month, last year, etc.

Mon, 06/25/2012 - 12:20 | 2558324 tahoebumsmith
tahoebumsmith's picture

Yes indeed and this time is different. With the BRICS hoarding tonnage and making deals in other currency then the dollar, you can count on it breaking past all the stops. The dollar is collapsing right before your very eyes, even a blind man can hear the paper shriveling up. The deer is going to get alot of attention in the near future...

Mon, 06/25/2012 - 12:21 | 2558333 MrBoompi
MrBoompi's picture

$27.44 for silver....fuck you Dimon and Masters.

Mon, 06/25/2012 - 12:24 | 2558356 KingdomKum
KingdomKum's picture

we few, we happy few, we band of silver holders  .  .  .  

Mon, 06/25/2012 - 12:26 | 2558364 lotusblue
lotusblue's picture

Tyler- Where is that Moodys bank downgrade you wrote about this morning? Oh Yeah, and last week also? Is it coming or no?

PMs moving though as usual-incrementally.

Mon, 06/25/2012 - 12:36 | 2558408 monopoly
monopoly's picture

Not only are we here slightly vindicated for our "outer world commitment", but I guess the "brilliant ones" have moved on to another site, for today.

Nice to be rid of them for a while.

Mon, 06/25/2012 - 12:41 | 2558432 slewie the pi-rat
slewie the pi-rat's picture

cover those paper shorts and smoke em if ya got em

Mon, 06/25/2012 - 12:41 | 2558433 robertocarlos
robertocarlos's picture

I keep waiting for a better sale price. Seems there is a new sale every second week.

Mon, 06/25/2012 - 13:02 | 2558514 Canadian Dirtlump
Canadian Dirtlump's picture

I believe the James Turkism involves the old "a top wobbles most befire it stops" idea with the expected volatitility in our beloved welfare metal. I doubt we've seen the last smash indeed but a positive response from the metals is sure a nice sign.

Mon, 06/25/2012 - 13:20 | 2558591 robertocarlos
robertocarlos's picture

Then I think it will have 100 dollar up and down days in the future, and then it will break up or down,( limit of 1500 down ), big time for good.

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