Stocks Plunge, 10 Year At Record Low, Gold At Record High

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Thu, 08/18/2011 - 10:02 | 1572605 BaBaBouy
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GOLD Bitchez ...


KITCO out of 1 Ozs Bars, never seen that before ...

Thu, 08/18/2011 - 10:02 | 1572620 Pladizow
Pladizow's picture

Black Hawk drills over Bank of America in Miami???????

Thu, 08/18/2011 - 10:12 | 1572699 BaBaBouy
BaBaBouy's picture

GOLD Now @ New Highs ...


This is nothing folks, 2nd inning only...



Thu, 08/18/2011 - 10:02 | 1572627 snowball777
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Sorry. :)

Thu, 08/18/2011 - 10:15 | 1572713 TruthInSunshine
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The highly educated and extremely intelligent The Bernank has managed to break all markets.

When is someone in a public position going to mention The BubblesBananasBernank problem?

Thu, 08/18/2011 - 10:12 | 1572708 midtowng
midtowng's picture

Hope Chavez didn't have his gold at Kitco. ;-)

Over 200 tonnes of gold is leaving the market. How many counter-parties are going to get squeezed?

Thu, 08/18/2011 - 10:23 | 1572804 Smiddywesson
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Maybe they are out, maybe they are bunkering.  That is a canary in the coal mine.

Thu, 08/18/2011 - 09:59 | 1572608 Independent Rep...
Independent Republicrat's picture

The Fix is breaking bitchez.

Thu, 08/18/2011 - 10:11 | 1572686 midtowng
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But why today? The news out today isn't any worse than it has been for the last week, yet the markets had a HUGE rally over the past several days.

Now they are in full panic mode. It's as if there is more bad news on the way that only the insiders know about.

Thu, 08/18/2011 - 10:28 | 1572828 Smiddywesson
Smiddywesson's picture

This market is going to get a HUGE infusion of Benny bucks as soon as volume drops.  The Fed is not even near done with their gold acquistions.  Not at these prices.

Their game is to keep the markets up and buy gold.  Don't fall for the market collapse theory, that's not in the cards until the game is over, and it ain't over.  It is not a market, or it would have collapsed long ago.  Don't trade it like it's a market.

Expect some more 500pt swings back and forth over the next few days.

Thu, 08/18/2011 - 13:09 | 1573648 ElvisDog
ElvisDog's picture

What evidence do you have that the Fed is buying gold? Haven't heard that one before.

Thu, 08/18/2011 - 10:01 | 1572610 Boilermaker
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Hold on to your asses....this is going to hurt.

Thu, 08/18/2011 - 10:02 | 1572621 HelluvaEngineer
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BM - Hey - saw the stupidity in IYR this morning and went short.  Insane.

Thu, 08/18/2011 - 10:09 | 1572673 Boilermaker
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Yea, it's ridiculous and has been for quite a long time now.  It's down >4% now.  In my humble opinion, when they really let that go then you know the game is over.

They're trying to stick save and breath life back into it right now.  We'll see.  I wouldn't be surprised to see them try to jerk it way back up again before the close.

Thu, 08/18/2011 - 10:33 | 1572868 Smiddywesson
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My guess is they will try to shore it up in low volume during lunch.

Thu, 08/18/2011 - 10:05 | 1572638 Stoploss
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Ahhhh the irony... 666 is the break point for the RUT, LOL!!!

Thu, 08/18/2011 - 10:00 | 1572611 Kokulakai
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Bernanke Ka-put?

Thu, 08/18/2011 - 10:02 | 1572613 speconomist
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XLF is a Financial Sector ETF, right?

Did Doug recommend to buy that one, or the inverse?

Thu, 08/18/2011 - 12:03 | 1573362 WiZlon
WiZlon's picture

Kass said we've hit the bottom - the selling is overdone (you can probably find his comments on CNBC).  Looks like he was a tad early with this prediction.


Kass says buy XLF.  Tyler says buy the inverse.  One of them did good today, the other is named Doug.  :)



Thu, 08/18/2011 - 10:01 | 1572614 wang (not verified)
wang's picture

I apologize to Rosie

Thu, 08/18/2011 - 10:02 | 1572617 machineh
machineh's picture

Dow 11K -- busted to hell!


Thu, 08/18/2011 - 10:02 | 1572618 Flakmeister
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Philly Fed just crapped the couch....


Thu, 08/18/2011 - 10:05 | 1572641 narapoiddyslexia
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Has anyone ever seen -30 on the Philly Fed before? 

Is this not an indicator that corporate profits are on the express elevator, in the down vector?

Thu, 08/18/2011 - 10:12 | 1572704 Flakmeister
Flakmeister's picture

Last hit this number in March 09

Thu, 08/18/2011 - 10:03 | 1572619 lolmao500
lolmao500's picture

That's why I'm going to buy 10 years bond shorts. Once QE3 kicks in, it's gonna skyrocket.

Thu, 08/18/2011 - 10:06 | 1572647 Flakmeister
Flakmeister's picture

There will be no explicit QE3... be careful or you may be inadvertantly committing seppuku...

Thu, 08/18/2011 - 10:09 | 1572678 lolmao500
lolmao500's picture

Yeah right. How can US treasury bonds go lower? It just cannot.

Thu, 08/18/2011 - 10:13 | 1572712 Flakmeister
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You clearly missed the Japanese reference....

Thu, 08/18/2011 - 10:21 | 1572781 lolmao500
lolmao500's picture

Ya well Bernanke cannot go japanese, he's too impolite.

Thu, 08/18/2011 - 12:07 | 1573387 TruthInSunshine
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The Bernank can not only go Japanese, he can do a fantastic bukkake & kabuki on the taxpayers while doing so.

I call The Bernank's new breed of economic theory 'Fugunomics.'

Thu, 08/18/2011 - 10:03 | 1572629 FoieGras
FoieGras's picture

No instrument in the market .. NONE... is pricing in hyperinflation. It's delfation all the way.

Stocks, Gold, Bonds, Oil etc. etc.

Thu, 08/18/2011 - 10:06 | 1572649 Thorlyx
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unfortunately not at the pump and not at the grocery store.......

Thu, 08/18/2011 - 10:38 | 1572912 Smiddywesson
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Gold is going down FoieGras?   Have you been eating Prechter pate?  Gold goes up during deflation and up during inflation, esp hyperinflation.  That's because gold is a currency.  That's because gold is the measuring stick by which all value is measured.  In short, gold is going up because central banks know all of the above, are buying it like crazy, and know what's coming next because they are in contol of a top down system.

Thu, 08/18/2011 - 13:07 | 1573635 Bay of Pigs
Bay of Pigs's picture

Most deflationists have their head up their ass on gold. They don't get it and never will. 

QE3 will only make things worse and that's where we're heading.

Thu, 08/18/2011 - 13:13 | 1573664 ElvisDog
ElvisDog's picture

I agree that QE3 makes it all worse, but I disagree that it's coming. It is the last bullet in the Fed's revolver, and if they launch QE3 and it fails then the Fed has nothing. Not only do they have nothing but the last shread of their credibility is gone. In my opinion, the Fed won't launch QE3 because they know it will fail and when it does the whole ball wax comes apart.

Thu, 08/18/2011 - 13:17 | 1573681 Flakmeister
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Thu, 08/18/2011 - 13:46 | 1573791 Temporalist
Temporalist's picture

Yes gold is the numeraire...what all other wannabe currencies are measured against.

I forgot the term for something that is purchased more as the price rises demand is that too.

Thu, 08/18/2011 - 10:03 | 1572630 ZeroPower
ZeroPower's picture


Thu, 08/18/2011 - 10:04 | 1572632 Debtless
Debtless's picture

It's nice to see the human volume back kicking some robot ass this morning.

Thu, 08/18/2011 - 10:08 | 1572663 DaveyJones
DaveyJones's picture

1st some robot ass, then some representative 

Thu, 08/18/2011 - 10:04 | 1572633 Troy Ounce
Troy Ounce's picture



Fuck, where is the party if stocks plunge to zero?

Thu, 08/18/2011 - 11:19 | 1573128 sleepingbeauty
sleepingbeauty's picture

My place, BYOWFAG (Water Food Alcohol and gas)

Thu, 08/18/2011 - 10:04 | 1572634 vast-dom
vast-dom's picture

Time to BUY TBT


Thu, 08/18/2011 - 10:05 | 1572640 swissaustrian
swissaustrian's picture

Volume wasn´t that high - interesting...

Thu, 08/18/2011 - 11:42 | 1573253 Cruel Aid
Cruel Aid's picture

Down 500 points without the panic volume.

Walk in the park?

Thu, 08/18/2011 - 10:06 | 1572643 DaveyJones
DaveyJones's picture

Ah Panic mode, it's getting so familiar it's sort of...comforting

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