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Thanksgiving Tally: Lunatics And Hacks Win As Gold Up 19.3% YTD; S&P Down 7.5%

Tyler Durden's picture


To some, only "Lunatics and Hacks" believe in gold and a system based on real money. To others, one look at the chart below showing the relative performance of gold and the S&P YTD is enough to determine who the lunatic and hack truly is.

Source: Bloomberg

As for the "some"...


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Wed, 11/23/2011 - 17:12 | 1908358 terryfuckwit
terryfuckwit's picture

no 1 fuckwit


Wed, 11/23/2011 - 17:25 | 1908413 MillionDollarBonus_
MillionDollarBonus_'s picture

How is it fair that redneck doomers should be rewarded for simply sitting around watching nascar while they ’stack’ their precious metals, while hardworking and innocent investors lose money in equities. This is clearly not fair, and it’s time we stood up to these self-important pigs who constantly boast about their inflated and obscene profits. I would strongly urge the Obama administration to introduce an ‘equal opportunity in investments’ policy to tax windfall gains in the precious metals sectors and use the proceeds to compensate unfortunate equity investors.

Wed, 11/23/2011 - 17:25 | 1908423 GeneMarchbanks
GeneMarchbanks's picture

Good one.

Wed, 11/23/2011 - 17:38 | 1908485 redpill
redpill's picture

I object, I am not a hack or a lunatic. I'm just a traditionalist with a barbaric fancy for shiny inedibles.

Wed, 11/23/2011 - 17:45 | 1908529 GeneMarchbanks
GeneMarchbanks's picture

My apologies. Didn't take my redpill recently.

Wed, 11/23/2011 - 18:36 | 1908696 clymer
clymer's picture

Aaaahhh, MDB.. Your expertise at trolling is unmatched.

Have a terrible holiday


Wed, 11/23/2011 - 21:31 | 1909099 phyuckyiu
phyuckyiu's picture

I thought the 'equal opportunities in investment act' was a little too over the top, otherwise some top quality trolling as always.

Thu, 11/24/2011 - 09:58 | 1910376 Thomas
Thomas's picture

mdb is the King of Trolls. He keeps the real ones out by filling the niche.

Wed, 11/23/2011 - 19:02 | 1908772 Stack Trace
Stack Trace's picture

Stay in your dreamworld while sucking on recycled waste in the real.

I prefer eating lobster and juicy steaks from the wealth my gold preserves.

Wed, 11/23/2011 - 17:45 | 1908533 DCFusor
DCFusor's picture

One of your better lines, red.

Wed, 11/23/2011 - 17:48 | 1908539 Caviar Emptor
Caviar Emptor's picture

I bought my gold purely cause I'm into metal, man. I thought it was a tribal thing. Guess it was my Texas Tea moment. 


Wed, 11/23/2011 - 23:36 | 1909348 Urban Roman
Urban Roman's picture

A barbarous relic is just one oxidation step lower than a barbaric relic.

Thu, 11/24/2011 - 02:33 | 1909826 akak
akak's picture

Funniest comment on ZeroHedge EVER!!!

+ 6.02 E23

Thu, 11/24/2011 - 09:59 | 1910382 Thomas
Thomas's picture

Saw a comment one day in which it was called the "barbequed relic". Couldn't tell if it was intentional or not.

Wed, 11/23/2011 - 17:56 | 1908571 Peterpaul
Peterpaul's picture

I know of a man who has truly straddled the barbarous - he has stacks and his wife wears 24k solid gold jewelry (either way he's covered.)

Wed, 11/23/2011 - 18:18 | 1908630 jdelano
jdelano's picture

And don't forget those of us who had the temerity To stick with our puts and shorts and dca all the way up and are now solidly in the green on trades that should have blown up in our faces.... Iow, me bitchez! Happy thanksgiving, I'm going straight for the veuve isle : )

Wed, 11/23/2011 - 20:01 | 1908905 I think I need ...
I think I need to buy a gun's picture

i didn't get my sun microsystems windfall redistribution when i was holding gold back in 2000. Please pay back tax million dollar bonus

Wed, 11/23/2011 - 21:05 | 1909027 bernorange
bernorange's picture

Some people connote "gold bug" as an epithet.  I embrace it.  In fact, I hold up the cockroach as a more specific symbol for the term.  The cockroach is an amazing and adaptable creature.  It endures in the harshest of environments.  It will survive long after humans (and sheep) are extinct.

Wed, 11/23/2011 - 23:41 | 1909359 Snidley Whipsnae
Snidley Whipsnae's picture

It's a bit surprising that MDB received 25 positive votes for his diatribe. There must be more troll support than usual... Maybe it's a Thanksgiving thing?... Or, maybe his positive votes are for humor?

On the one hand MDB seems to believe in the equities markets and capitalism... On the other hand he abandons capitalism when his equities portfolio heads south... and, like any other azz hat banker he wants a socialist bail out from those that are holding PMs.

MDB... is your portfolio having a crisis of capitalism, or one of socialism...and, would you know the difference?

HAPPY TURKEY DAY TO ALL... Mmmmm GOLDEN oven baked turkey... and it's edible!

Thu, 11/24/2011 - 10:00 | 1910384 Thomas
Thomas's picture

He's not a sadist but rather a satirist.

Wed, 11/23/2011 - 17:27 | 1908434 WestVillageIdiot
WestVillageIdiot's picture

I would also urge Mr. Obama to applaud the blatant racism that took place on the Jimmy Fallon show, which was aimed at Michelle Bachmann.  That is the leadership we need in this country.  We need to reward the racism aimed properly against white people like that exhibited on Jimmy Fallon's show.  That will teach those NASCAR rednecks to boo the fine first lady. 

Wed, 11/23/2011 - 21:18 | 1908990 baby_BLYTHE
baby_BLYTHE's picture

WORLD WIDE WHITE PRIDE, baby! where is the Congressional White Caucus? Where is the so-called 'equality' the progressive-left always screams about?

Wed, 11/23/2011 - 22:11 | 1909182 trav7777
trav7777's picture

when do we get a UFC HW champ with "White Pride" tattooed across his chest?

We have cities getting sued by white firefighters who passed the test then got passed OVER for promotion that was based on the test.

"More diversity" always means more blacks even if their representation is already far in excess of their share of the population.  And it leads to Detroit or Zimbabwe, as night follows day.  Show me one fucking counterexample in all of history.

We can't nurture out nature.

Thu, 11/24/2011 - 00:01 | 1909405 baby_BLYTHE
baby_BLYTHE's picture

maybe I took a few too many hits out of my friend's bong tonight, but it seems you and I see eye-to-eye on this. Every Founding Father I look at comparatively seems to resemble one-another. Perhaps, although it may not yet be realized, the proverbial ethnic demographic we relate to has always been correct, despite the many interruptions. Cultural Marxism has been with us a long while. Reversion to mean is indeed a bitch. The system has failed... We're here to prove it now!

Wed, 11/23/2011 - 23:09 | 1909297 tarsubil
tarsubil's picture

Who the fuck is Jimmy Fallon? When did he get a TV show?

Wed, 11/23/2011 - 17:28 | 1908438 topcallingtroll
topcallingtroll's picture

Yes indeed.

It is important that the government use its powers to promote equality and a level playing field.

We should not allow such inequality to exist

Wed, 11/23/2011 - 17:49 | 1908549 Caviar Emptor
Caviar Emptor's picture

During these holidays, we need to be reminded of those less fortunate than ourselves: the globalist fiat overlords of the banking cartel. 

Wed, 11/23/2011 - 18:40 | 1908712 clymer
clymer's picture

Nouriel: "Gold is not relevant. Just ask bernanke and keynes."

Aaron: "What about James Rickards? What about the 10 year chart?"

Nouriel: "Only lunatics and hacks pay attention to charts."

Aaron: "..bbbut but but.."

Nouriel: "ENOUGH"


Wed, 11/23/2011 - 22:14 | 1909185 trav7777
trav7777's picture

so you are opposed to affirmative action, then, and all the other racial set-asides and quotas that maintain this "white privilege"?

Wed, 11/23/2011 - 23:00 | 1909244 TrulyBelieving
TrulyBelieving's picture

What if we had a system that relied on the best person qualified getting the position.    Nah, wouldn't work. Let's just keep dividing people up into groups; ethnic, religious, sex, age, etc.  This way everyone knows their place and the division and envy can continue.

Wed, 11/23/2011 - 23:40 | 1909344 Pegasus Muse
Pegasus Muse's picture

"..promote equality and a level playing field."

Since you metioned playing field, the NBA is in dire need of Affirmative Action.  There's not nearly enough diversity.  And the NFL is discriminatory in its hiring practices.    

Wed, 11/23/2011 - 17:28 | 1908441 tmosley
tmosley's picture

Fine by me.  Just discourages people from buying dollars with hard currency.

Wed, 11/23/2011 - 17:29 | 1908442 LoneStarHog
LoneStarHog's picture

Would a large donation of brass & lead suffice?

Wed, 11/23/2011 - 17:37 | 1908483 lemonobrien
lemonobrien's picture

thats cause redknecks is simpletons ans they derive everything back to its singularity... and da maths not too complex when you figure infinite growth is confined to a finite momma earths; golds.

city folks is different. complex, running around doing nothing, saying a lot; always selling, always hustlin. Dey have to give their money to people who talk complex promising a lot, delivering nothing, so they can run around with dreams in their head.

Wed, 11/23/2011 - 17:39 | 1908498 SHEEPFUKKER

surely you jest.  

Wed, 11/23/2011 - 18:08 | 1908609 Whalley World
Whalley World's picture

In order to "bozo proof" yourself, you should state when you are being sarcastic.  If you are not kidding, then forget it bozo.

Wed, 11/23/2011 - 21:45 | 1909127 Blano
Blano's picture

It's all sarcasm, dude (dudette).

Wed, 11/23/2011 - 18:55 | 1908747 X Yooper
X Yooper's picture

Sorry, sweetie, you blew your cover with this post.

Wed, 11/23/2011 - 19:01 | 1908765 Stack Trace
Stack Trace's picture

One word for you: DIE!


K, thx, l8r.

Wed, 11/23/2011 - 20:16 | 1908931 Hulk
Hulk's picture

LOL !!!

Wed, 11/23/2011 - 21:46 | 1909119 Blano
Blano's picture

MDB, much better than other recent efforts.

Wed, 11/23/2011 - 22:21 | 1909201 trav7777
trav7777's picture

Yes, but equity investors are disproportionately white.

Therefore any taxation should be given back to minorities who built this country, such as blacks and illegal mexicans who've arrived here in the past 10 years or so.

I mean, we owe a lot to these groups, we owe the traffic light to Garrett Morgan who invented it 10 years after it was already in Cleveland and was like the 60th patent for it.  White people traveled back in time to steal his inventions, including the wheel and the written word and the transistor.

Until the playing field is leveled once and for all, all the affirmative action in education and government hiring, as well as racial set-asides in gov't contracting, scholarships, and welfare will do nothing more than maintain the white privilege that is experienced in superior outcome in working, invention, education, investing, saving, maintaining civilization, and sticking around after the baby is born.

Thu, 11/24/2011 - 09:47 | 1910357 Phaethon
Phaethon's picture

I'd say their greatest invention has been peanut butter.  And --- I'm not going to lie --- I heard a great deal about this accomplishment during my formative years in government school.

Wed, 11/23/2011 - 23:06 | 1909288 Uncle Sugar
Uncle Sugar's picture

MDB, I believe you are RoboTrader and this is your 'therapy' avatar. Your posts are douchelicious.

Thu, 11/24/2011 - 03:37 | 1909934 Gief Gold Plox
Gief Gold Plox's picture

I hereby retract my rule of junking your posts before reading them and offer my sincere apology for being so careless as to miss the subtle sarcasm. I sir, applaud you.

It was the phrases "hardworking and innocent investors" and "equal investment opportunity" that won me over.

Thu, 11/24/2011 - 10:07 | 1910396 knukles
knukles's picture

My you choke to death on your fucking holiday dinner.

Wed, 11/23/2011 - 17:30 | 1908447 candyman
candyman's picture

Great close, this roller coaster is going straight down like this, (Sommerrodelbahn, Mieders, Austria)







Wed, 11/23/2011 - 22:53 | 1909267 covert
covert's picture

nothing new here.


Wed, 11/23/2011 - 17:13 | 1908361 rambler6421
rambler6421's picture

That makes me a lunatic.

Wed, 11/23/2011 - 17:15 | 1908371 GeneMarchbanks
GeneMarchbanks's picture

Then I must be the hack.

Speaking of hacks, somebody took a hack at that bullshit ramp in the last five minutes...

Wed, 11/23/2011 - 17:24 | 1908419 HoofHearted
HoofHearted's picture

Damn it's good to be a lunatic hack!

Wed, 11/23/2011 - 17:32 | 1908459 Odin
Odin's picture

I know... It was glorious to watch in real time... Everyone dumping before the asian market nightmare tonight...

Wed, 11/23/2011 - 17:18 | 1908388 Long-John-Silver
Long-John-Silver's picture

It's only two more days until the new moon. Just stay calm until it's past.

Wed, 11/23/2011 - 17:46 | 1908531 scatterbrains
scatterbrains's picture

notice that on 11/11/11 at the 11th hour the up move in the market (hourly line chart) died and has never looked back.

Wed, 11/23/2011 - 17:13 | 1908365 aldousd
aldousd's picture

Awesome headline.

Wed, 11/23/2011 - 17:13 | 1908368 terryfuckwit
terryfuckwit's picture

sorry never been first had to do that... long live the shiney woo

Wed, 11/23/2011 - 17:40 | 1908492 slewie the pi-rat
slewie the pi-rat's picture

you can still have gravy on yer mashed potatoes, as far as i'm concerned

YAY!  for the fringe bloggers!

Wed, 11/23/2011 - 18:06 | 1908602 terryfuckwit
terryfuckwit's picture

indeed i get a strong whiff of sanity amongst the insanity here on the hedge

Wed, 11/23/2011 - 17:15 | 1908373 Long-John-Silver
Long-John-Silver's picture

But, But, But, it's down from it's all time highs....../sarc

Wed, 11/23/2011 - 17:17 | 1908379 dereksatkinson
dereksatkinson's picture

Gold miners down 10%+ on the year... 

Wed, 11/23/2011 - 17:19 | 1908390 GeneMarchbanks
GeneMarchbanks's picture

Apples... oranges.

Wed, 11/23/2011 - 17:22 | 1908409 fonzanoon
fonzanoon's picture

Apples....pieces of shit

Wed, 11/23/2011 - 17:28 | 1908437 GeneMarchbanks
GeneMarchbanks's picture

Clearly you've been burned. Miners are for the super connected or super patient. Preferably both. I can see this is a difficult subject, I'll move on.

Wed, 11/23/2011 - 17:32 | 1908462 dereksatkinson
dereksatkinson's picture

Look at the mining indexes and explain to me the rational behind the moves we've seen?  Explain to me why companies are at levels they traded at when gold was trading at $600 an ounce?  Gold moves up $1,100..  Major gold miners go absolutely no where. 

Wed, 11/23/2011 - 17:37 | 1908482 fonzanoon
fonzanoon's picture

Maybe since "they" have such a hard time knocking gold down they just kick the shit out of the miners. who knows.

Wed, 11/23/2011 - 17:41 | 1908507 dereksatkinson
dereksatkinson's picture

It's a disconnect.  They are treating mining stocks like bank stocks.


JAG- had a $9.30 bid on it by a chinese miner.  Traded up to $8 and now trading in the low $7s..   That's $2.30 of free money but since jag is a miner, no one cares.

Wed, 11/23/2011 - 21:14 | 1909055 DosZap
DosZap's picture


IMHO< the ETF's are taking the miners Cash.

Wed, 11/23/2011 - 22:43 | 1909242 fonzanoon
fonzanoon's picture

There is a lot of truth to that.

Wed, 11/23/2011 - 17:47 | 1908514 GeneMarchbanks
GeneMarchbanks's picture

'Look at the mining indexes and explain to me the rational behind the moves we've seen?'

Like you I have more questions than answers, friend. The rational? Hee hee you're silly. I don't want you to be that crazy man walking down the avenue repeating: "The markets are rational" ad infinitum. Doesn't work like that. Let me tell where I'm at: I got a few favorite juniors I'm holding no matter what. Either the institutional $ comes or it doesn't. Bullion is a must of course. I've had no great returns since that Kinross/Red Back situation.

Either you have the stomach or you don't. I'm brainless + heartless.

Wed, 11/23/2011 - 17:48 | 1908544 dereksatkinson
dereksatkinson's picture

I'm pretty sure this trade has damaged quite a few of my brain cells.

Wed, 11/23/2011 - 17:59 | 1908584 GeneMarchbanks
GeneMarchbanks's picture

A bull is a brainless animal. If no tummy, stay away. Sorry to hear about the cells.

Wed, 11/23/2011 - 17:44 | 1908521 lincolnsteffens
lincolnsteffens's picture

All extremes revert to the mean. Just wait.

Wed, 11/23/2011 - 17:47 | 1908540 dereksatkinson
dereksatkinson's picture

The market can be irrational longer than you can stay solvent sadly...

Wed, 11/23/2011 - 17:55 | 1908566 chubbar
chubbar's picture

I share your frustration, makes no sense but I'm in for the long haul even though I'm mostly physical. I picked up a couple of miners at the lows today (dumb luck) in another account I trade for a friend. I'm sure they'll tank another 30% :). I can't believe the values I'm looking at, trading at the same dollar value it had before it proved up another boat load of reserves and started production! Another miner I bought today just added 2 million ounces of gold reserves, currently at 6 million (anticipating 10 million by late next year, hopefully won't get bought by a major in the interim) and is trading lower than when gold was at $700ish, just crazy stuff! I'm hoping for an absolute rout so I can load the boat but I can't help but add some when I see these valuations. Keep the faith!

Wed, 11/23/2011 - 19:08 | 1908787 rune420
rune420's picture

Well, some of them had hedged in at lower levels (e.g. Kinross, although they've unwound now). And I think a lot of hedge funds were long which means a lot of risk on/risk off bullshit price movements and forced liquidations in times of turmoil.

Wed, 11/23/2011 - 23:49 | 1909378 Chris88
Chris88's picture

If you take a look at the 1970s when oil prices went through the roof oil corporations share prices didn't rise too much even though you would have made a substantial profit owning oil futures.  Gold miners, like any company, are valued based upon future expected EPS which of course is reliant upon so many variables such as management and the policies they implement, input costs such as machinery (made with commodities that have gone up in price even more than gold in some cases), their productivity, debt:equity, etc. etc. etc.  Quite frankly, anybody who thinks that gold miners are going to perform well simply because gold will perform well doesn't understand basic equity valuation.

Wed, 11/23/2011 - 17:33 | 1908464 fonzanoon
fonzanoon's picture

It hurts. It hurts.

Wed, 11/23/2011 - 17:17 | 1908384 bb5
bb5's picture

Roubini is/was partners with Larry Summers at RGE Global economics. His other buddy is Timmay. Any questions?

Wed, 11/23/2011 - 17:22 | 1908411 Sqworl
Sqworl's picture

He is a money bitch and slut

Wed, 11/23/2011 - 17:23 | 1908415 GeneMarchbanks
GeneMarchbanks's picture

You can't blame the guy. If he accepts gold, he basically admits his life lie. Gold replaces him (& his kind) subsequently rendering his life's work obsolete.

Wed, 11/23/2011 - 17:51 | 1908555 Caviar Emptor
Caviar Emptor's picture

True that

Wed, 11/23/2011 - 17:34 | 1908467 Odin
Odin's picture

Fiiiinally some one says it...

Wed, 11/23/2011 - 17:18 | 1908386 Dick Darlington
Dick Darlington's picture

I'd rather listen to Latka than Roubini. They have similar voices but Roubini's bullshit is way more expensive.

Wed, 11/23/2011 - 17:19 | 1908393 fonestar
fonestar's picture

Roubini is a moron

Wed, 11/23/2011 - 17:20 | 1908395 bania
bania's picture

Nouriel, good luck ever living down "lunatics and hacks"

Wed, 11/23/2011 - 22:29 | 1909210 akak
akak's picture

We can add the phrase "lunatics and hacks" to "green shoots", "soft patch", "subprime crisis" and "tradition".


PS: Dear No-Real Rube-beany, fuck you, you lying Keynesian hack.

Wed, 11/23/2011 - 17:20 | 1908396 Bazooka
Bazooka's picture

Gold obviously will compress the ~26% crash it needs to catch up to S&P. The race is on! Gold and Silver go up with equities and they too shall crash and bite the dust like the equities.

The velocity is differenct, but direction is the same.

Wed, 11/23/2011 - 17:37 | 1908484 jimmyjames
jimmyjames's picture

Gold obviously will compress the ~26% crash it needs to catch up to S&P. The race is on! Gold and Silver go up with equities and they too shall crash and bite the dust like the equities.

The velocity is differenct, but direction is the same.


With a comment that stupid-it's plain to see you don't know how to interpret a simple chart-

Here ya go-spend some time learning and try to enjoy-

Wed, 11/23/2011 - 17:20 | 1908398 topcallingtroll
topcallingtroll's picture

Yeah rub it in why dontcha?

But are you guys who own gold and no other investments going to be willing to trade it in if the Dow jones industrial average trades for an ounce of gold?

Thought not.

Wed, 11/23/2011 - 18:51 | 1908735 jimmyjames
jimmyjames's picture

But are you guys who own gold and no other investments going to be willing to trade it in if the Dow jones industrial average trades for an ounce of gold?

Thought not.


if it reaches 1-1

Isn't that by historical facts-the exact time to sell gold and buy the DOW?

Wed, 11/23/2011 - 20:06 | 1908917 topcallingtroll
topcallingtroll's picture

But they will cling to their gold and their guns and wont sell because at a one to one ratio it will look like all hell is about to break loose in the world.

They should sell then, but wont.

Wed, 11/23/2011 - 21:41 | 1909116 phyuckyiu
phyuckyiu's picture

Wasn't it Lira who said that during Allende's term, you could buy a mansion for a car? I'm sure some will know a good thing when it hits them. Others will keep their car.

Wed, 11/23/2011 - 22:25 | 1909208 trav7777
trav7777's picture

LOL...this isn't like history

Talk to me when the DOW is generating a ROI with cashflow and dividends instead of forward expectations of growth.

The old paradigm is gone.  Or maybe fusion power comes at 1:1 and then u bail on the shiny.

Wed, 11/23/2011 - 17:20 | 1908399 Matt1973
Matt1973's picture

Dr Doom is a Boob

Wed, 11/23/2011 - 17:30 | 1908416 hedgeless_horseman
hedgeless_horseman's picture



Nation states going for the gold?

From Reuters late this afternoon:

German backing for issuance of joint Eurozone bonds is no longer being catorgorically ruled out in Merkel’s coalition

I have said all along that the end goal for this lap in the Global Race To The Bottom is the Eurozone gets to join the competition in ernest by issuing bonds, and then of course monetizing the debt.

You see, it really isn't a race to the bottom anymore. No, it is more like synchronized diving. All the central banks are working bank left behind...everyone performing the same currency goes underwater ahead of the other currencies.

When this competition is over, the central bankers will shake hands, head off to the next round, climb the platforms, and DO IT ALL OVER AGAIN.

Wed, 11/23/2011 - 17:33 | 1908466 GeneMarchbanks
GeneMarchbanks's picture

Your finest today, I'm just not going to hide it anymore hh I'm a fan.

Regarding this upcoming EUtopia you speak of, it'll need a common Treasury, no?

Matters not, violence continues...

Wed, 11/23/2011 - 17:43 | 1908516 slewie the pi-rat
slewie the pi-rat's picture

cannonball in pike position?

france and germany in sync?

Wed, 11/23/2011 - 17:53 | 1908560 GeneMarchbanks
GeneMarchbanks's picture

Honestly... no clue. Everything tells me Germany is working on a back-up plan so-to-speak. It's all inconclusive, all in suspense.


Wed, 11/23/2011 - 17:34 | 1908471 Mark123
Mark123's picture

Those divers don't look like they are having too much fun!


Interesting that this did not have any impact on markets.  Maybe folks are beginning to think that even if ECB does go for broke with Eurobonds (or some other money printing scheme) that the game is really up and there is no easy way out.


Isn't it priceless though that nobody is paying attention to the USA any more!

Wed, 11/23/2011 - 17:49 | 1908548 kloot
kloot's picture

was released after close i believe.

risk on.

Wed, 11/23/2011 - 20:27 | 1908947 Schmuck Raker
Schmuck Raker's picture

Naw, that was around 3 ET. And, I'm certain I saw it floated much earlier in the day. Sorry, I can't cite the source.

PS no dis from me...

Thu, 11/24/2011 - 06:46 | 1910149 kloot
kloot's picture

could be, first time i saw it hit the talking forex news wire was around the close though.

was going to sell my puts anyways, but the on the news i bought calls on ms for a dead cat bounce.

Thu, 11/24/2011 - 02:59 | 1909885 trav7777
trav7777's picture

there are a number of commentators - i'm one - who have explained why this is inevitable.  Once you understand the mechanics of the growth systems like creditmoney, this becomes obvious.

There is NO other way to make the accounting work.  It would behoove everyone not to misunderstand and chalk this up to scienter or malice and just get that the math makes this happen.  That's all there is to it.

If you can parse the kookiness of hypertiger, you will see the same statements.  It's a matter of the growth needs not being met and they simply must be filled by printing or else the system itself will collapse.

Thu, 11/24/2011 - 07:16 | 1910181 Tao 4 the Show
Tao 4 the Show's picture

Kookiness of Hypertiger. - my take on this guy is that once he absorbed this picture, he became terminally embittered and compensates by talking down to everyone as the doomsayer from hell. I have met a number of people like this who take refuge in their arrogance when all else fails them, using the little knowledge they have to put others down under the guise of teaching.

Fact is, there are lots of people who got this 10 or more years ago, some long before, and quite a large number now. It is easier than ever to understand now that chunks of the former reality are falling away. ZH is a whacky place itself, but at least we all enjoy some irony and humor through it all.

Even if there were no sociopaths leading the world with perverse money systems, we'd all be facing a difficult future for reasons of energy and resource supplies, etc. Better to get together, discuss, plan, laugh, etc than fret.

Wed, 11/23/2011 - 17:26 | 1908426 mynhair
mynhair's picture

Cue Robo with the usual disparagement of miners.......

Wed, 11/23/2011 - 17:30 | 1908446 dereksatkinson
dereksatkinson's picture

Well.. I own the miners and I think they are pieces of shit.   I've made more than 4X my investment in gold but made next to nothing on miners in the past 4 years.  They are the worst sector..  Period.

Wed, 11/23/2011 - 17:34 | 1908472 mynhair
mynhair's picture

Agree they suk medium term, but for weekly and daily plays, they aren't bad.  And they are cheap!

Wed, 11/23/2011 - 17:46 | 1908536 dereksatkinson
dereksatkinson's picture

And getting cheaper

Wed, 11/23/2011 - 17:35 | 1908474 fonzanoon
fonzanoon's picture

My sentiments exactly

Wed, 11/23/2011 - 17:37 | 1908478 Long-John-Silver
Long-John-Silver's picture

Too much political risk involved with miners. The host country can nationalize the mine at any moment so it's value becomes ZERO for the investors/stock owners. This assumes that they don't experience any problems getting product out of the ground or mining costs that exceeding the products value. 

Wed, 11/23/2011 - 17:38 | 1908490 mynhair
mynhair's picture

Pray tell, what does not involve political risk anymore?

Wed, 11/23/2011 - 21:06 | 1909031 hedgeless_horseman
hedgeless_horseman's picture



+1   Ex-fucking-actly.

Wed, 11/23/2011 - 17:52 | 1908559 DCFusor
DCFusor's picture

Or lock in low gold prices with stupid hedges...

Wed, 11/23/2011 - 17:53 | 1908561 Caviar Emptor
Caviar Emptor's picture

Yeah. Climate change another danger. Floods

Wed, 11/23/2011 - 23:56 | 1909392 au_bayitch
au_bayitch's picture

+1 LJS; doesn't FCX have labor issues in Indonesia?

Wed, 11/23/2011 - 20:47 | 1908982 oddjob
oddjob's picture

What mining stocks could you have invested in over 4 years and not make a return?

Wed, 11/23/2011 - 17:29 | 1908444 Mark123
Mark123's picture

Roubini reminds me of want to throw up when you hear him ramble on (both his thoughts and voice are so annoying).

Wed, 11/23/2011 - 17:37 | 1908486 tmosley
tmosley's picture

I prefer Dr. Henry Killenger:

Wed, 11/23/2011 - 17:30 | 1908452 UGrev
UGrev's picture

Can we add "Non-PhD" to that list? "Lunatics, hacks and non-PhD's" ... :D

Wed, 11/23/2011 - 22:06 | 1909170 UP Forester
UP Forester's picture

Yeah.  I resemble that remark, and I don't need it Piled higher and Deeper to figure out it wasn't the gold standard that caused the Lesser Depression of the 30's-40's, but fractional reserve banking.

This guy's an asshat.

Wed, 11/23/2011 - 17:33 | 1908463 terryfuckwit
terryfuckwit's picture

in the absence of robo fuck you all

Wed, 11/23/2011 - 17:37 | 1908477 mynhair
mynhair's picture

...and the XRT you rode in on!


Gotta P, just stopped by to LNKD.

Wed, 11/23/2011 - 17:38 | 1908489 Long-John-Silver
Long-John-Silver's picture

and just stop with the netflix comments.

Wed, 11/23/2011 - 17:38 | 1908487 prains
prains's picture

robo's at his fuckwits anonymous meeting today

Wed, 11/23/2011 - 17:39 | 1908494 Zola
Zola's picture

Miners are run by clowns, if only they raised their dividends and stacked some of their production (why sell all your gold produced at market now if you can stack on your balance sheet and sell it at much higher prices later ). Thats only two of the ways, another is to buy back their stock smartly and opportunitsitically to counter short raids... 

Wed, 11/23/2011 - 17:44 | 1908522 dereksatkinson
dereksatkinson's picture

It still doesn't make any sense that they are trading the way they are.

Wed, 11/23/2011 - 17:38 | 1908495 Odin
Odin's picture

I saw Roubini on CNBC a couple weeks back... His smugness about his certitude in being a bull made me want to piss on his face... He seemed a little to sure, like he knows something we don't, which wouldn't surprise me given his elitist connections... In any case, even if they turn the printing press back on in the near future we will probably have some time to make good on our shorts before that... And then, ride the gold/silver train back up...

Wed, 11/23/2011 - 17:40 | 1908504 Cheesy Bastard
Cheesy Bastard's picture

Miners offer too much counterparty risk via nationalization.  Hold it, protect it, own it.

Wed, 11/23/2011 - 17:43 | 1908517 mynhair
mynhair's picture

"Hello, I'm from the Goobermint, and am here to relieve you of your physical."


- Mr. Abrams aka M1A1

Wed, 11/23/2011 - 17:48 | 1908541 Cheesy Bastard
Cheesy Bastard's picture

I forgot hide it.  Then the guys from the government can go relieve themselves.

Wed, 11/23/2011 - 17:43 | 1908513 Georgesblog
Georgesblog's picture

Gold and silver judge paper. Paper is found guilty of fraud.

Wed, 11/23/2011 - 17:44 | 1908525 Dr. Gonzo
Dr. Gonzo's picture

I'm crazy bitches! But I don't care cause I'm rich!

Wed, 11/23/2011 - 17:44 | 1908526 SHEEPFUKKER

A fiat whore is still a whore. Fuck off Roubini. 

Wed, 11/23/2011 - 17:48 | 1908542 JW n FL
JW n FL's picture



I am proud to be a Profitable Hack.

I am Proud to be able to provide for my Family and Loved Ones no matter what happens with Paper (Fiat) Money, thusly I am a Proud Lunatic!

I am even more proud of my fellow Hacks and Lunatics here! fore, it is not every day that you see common sense in use on such a large scale.

God Bless ALL! of You(s) Hack, Lunatics!

Wed, 11/23/2011 - 17:57 | 1908575 SHEEPFUKKER

Bitter boy Roubini just bitter he has been getting tooled trading ES while the smart "rednecks" have been stacking. I'll sell you some bits dickwad right near the top. 

Wed, 11/23/2011 - 18:13 | 1908601 Quinvarius
Quinvarius's picture

Roubini likes to debate the ocean and the stars.  His bathtub provides water and his electric lightbulb provides light...until his house burns down.  Then he can get a bucket of water from the ocean by starlight.

Wed, 11/23/2011 - 18:16 | 1908625 Hicham
Hicham's picture

Woooow. Regretting already getting out of FAZ yesterday, hopefully there's another takedown soon...or I'll have to move back into paper gold and oil.

At least bloody NFLX is keeping going down. That company drove me nuts when it was worth $200+....

Wed, 11/23/2011 - 18:16 | 1908629 AmazingLarry
AmazingLarry's picture

Who cares. Short it all and go long shovels.



Wed, 11/23/2011 - 18:23 | 1908645 monopoly
monopoly's picture

The miners will have their day in the sun. Agree on all you say but I have a chunk of them and as frustrating as they can be at least they have real earnings, do not need bail-outs and you can read and understand their numbers, unlike many such as the banks. Sure there is risk, but can you spell GRPN.,

When the sheeples finally realize that gold is not going back to 800, then they will get involved. Part of the furstration is when we have some decent profits and the market does its bi monthly tank, they sell them since that is where the real profits are. 

No one every said this was easy, but I am keeping my miners along with my gold and silver.

Wed, 11/23/2011 - 18:44 | 1908666 DavosSherman
DavosSherman's picture

U Clueless Economic POS

“There is no means of avoiding the final collapse of a boom brought about by credit expansion.

The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.” ~Ludwig Von Mises AKA NOT A LUNATIC OR HACK like you - you effing POS clueless economic moron who I wouldn't let teach my dog how to count.

This is precisely why we are where we are today-----there are only a handful of good economic teachers & you NR are not one of them.


Wed, 11/23/2011 - 19:04 | 1908775 Quinvarius
Quinvarius's picture

There are real economists.  Then there are government sponsored economic alchemists trying to hocus pocus an outcome.

Wed, 11/23/2011 - 18:30 | 1908673 topcallingtroll
topcallingtroll's picture

So what asset class returned 30 percent this year?

Hint. It has a better thirty year return than stocks and gold.

Wed, 11/23/2011 - 18:48 | 1908727 tekhneek
tekhneek's picture


Wed, 11/23/2011 - 20:13 | 1908925 topcallingtroll
topcallingtroll's picture

Of course its hindsight.

I have never owned a goddam thirty year usa treasury bond in my life. I would never touch them.

It would take a real contrarian to have dollar cost averaged into thirty year usa treasurys since 1981. Or my clueless progressive pro government sister who doesnt want to own stocks or gold.

Wed, 11/23/2011 - 21:44 | 1909123 tekhneek
tekhneek's picture

Or my clueless progressive pro government sister who doesnt want to own stocks or gold.

LOL! I have one of those too. I love the "Buy gold? Gold's too fucking expensive!" response. I always just laugh my ass off. She honestly doesn't get it and I'm not one to try and nail jell-o to a wall either.

Happy thanksgiving man. Don't forget money is money and paper is paper.

...and hindsight's 20/20 -- not 30% YTD. Gold + FAZ >30% YTD ;)

Wed, 11/23/2011 - 18:59 | 1908759 jimmyjames
jimmyjames's picture

So what asset class returned 30 percent this year?


Don't count your chickens until they hatch son-

The year isn't over yet-about 40 days left and with this shitshow unwrapping at warp speed-everything can change-in a new york minute-

Wed, 11/23/2011 - 19:56 | 1908895 MFL8240
MFL8240's picture

Sell everything and go into dollars, seems to suit you.  Gold is not messured on returns, it is meassured on VALUE and fiat money printed out of thin air has none.

Wed, 11/23/2011 - 19:03 | 1908773 monopoly
monopoly's picture

Well done tekhneek, my thoughts exactly.

Wed, 11/23/2011 - 19:54 | 1908890 MFL8240
MFL8240's picture

Roubini made one very obvious call on the housing market and that somehow qualifies him to be the economist all these rectums in the news media pay homage too.  Well, I am a regular guy and my net worth is up over $1 mil in holding only Gold while all my genius Phd friends many who  took his and others advice and told me I was a nut have lost their asses in stocks.  So keep the price suppressed Mr. Roubini because I want more of this junk at a lower price, you keep the paper money.  

Wed, 11/23/2011 - 20:10 | 1908918 Wakanda
Wakanda's picture

Happy T day fellow ZH lunatics and hacks.  PM victory is sweet so drink a toast to the sheeple and their fiat leaders to wish them well.  They are going to need any prayer of goodwill that drifts their way.

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