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Update: $1,623 And Rising..... The "Traditional" "Barbaric Relic" Hits An All Time High Of Over $1615
Here, let us explain to you how this works: you take some "tradition", you mix some central planning, you throw the imminent threat of default by the world's reserve currency and you end up with gold surging to $1615, well on its way to $10,000 and more. Any questions?
Update: $1,623
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No! Please, i need to buy more.
you should've done so 800 bucks ago, in 2008
I got mine at 1000 even and was SO afraid I'd lose...
Now I'm thinking I need more!
I'm as happy, indeed giddy as the next long in PM space, but beware...
This is an exact point in time, pure event horizon for Blythe & Co. to slam the absolute piss out of silver for JPM and somebody (HSBC/JPM, et al) to take the fucking hammer to gold for the Fed, Treasury, BoE, etc.
Just be-a-fucking-ware that specter remains lurking, looking for a kill, with vengance.
The prime motivator might just be the dollar itself on the crosses. Whilst policy to want it lower of all currencies in this world wide clusterfuck beggar thy neighbor devaluation routine, just never ever want a dumb ass out of control collapse. Looks bad. Pople get fired, thrown out of the esteblishment inner circle for that kind of shit. Unless, of course you're of a Larry Summers level.
Don't be surprised if they come in and hammer it... or wait until the euphoria wears off...
PM's are gonna go up.
But the road is gonna be major terrifying scary sometimes.
But, but, where's rat-raj gloating about all his gold shorts?
If this keeps up, he'll be talking about the gold bricks in his shorts.
Thread needs more GOLD, BITCHEZ. 5000 years of human history are asserting themselves. Stand in the way if you dare, banksters.
The drivebys seem to have less effect and shorter duration each time. They are going to need another earthquake or something.
I'm definitely seeing the same. The manipulators are seeing diminishing returns.
barbarous relics... good for bashing in kensyian skulls
As opposed to Barbarella relics, who are not even fit to hawk books on QVC
Barbarella (1968)...
Yeah but Barbarella had a hot bod(y) in her day...
After (if) we get a debt ceiling increase, gold & silver will come back down. Blythe may use that opportunity to use the downward move as momentum and hammer it down further.
Think you nailed it Knuckles. PMs have at least a couple more smack downs before the TPTB completely loose control and it stats jumping 2x, 3x, 4x... Looking for a pull back to the mid to low 1500's end of this week. Not a bad opportuity to turn a few hundred dollars in put contracts into a few ounces of real gold.
LOSE LOSE LOSE LOSE LOSE LOSE LOSE
EPIC FAILLLLLLLLLL!
Just keep steadily accumulating along the way
Speaking of, I'm starting to get that 2008 feeling.
But if you missed 2008, don't worry. It's still cheap.
Chumba-now, with the new features, you can have your normal sign-off automatically! How cool is that? - Ned
I have a question. If gold is going to $10,000, where is gasoline going?
I'll be the first to say, gold is going much higher. But $10k? ...somewhere between now and 10k, gasoline is going to double, triple and quadruple, At which point, everything will and must implode.
At a certain point, I'll be swapping everything for food and ammo.
Just sayin...
Gold is a store of wealth. Nothing else is. If you produce oil, yes, you are going to be rich, but oil is not a store of wealth.
That being said, if gold goes to $10k, the first question you should ask is, 'What happens to fiat currencie?' Because that would render fiat worthless in real terms, would it not? Still, people would want to pretend.
Then you should ask, what will oil producers wnat as collateral for their oil? Dollars? Nope. Gold. So then gold would have to back the currencie. Welcome to the New World Order.
Or we deflate.
Or what deflates? Congress just gave the President a raise in the debt ceiling. That means Treasurie can throw a few bucks at Public Pensions, SSTF, and go on issuing tens of billions of dollars per week, which means Bernanke has a free pass to monetize however much debt his ivy league assed brain thinks is necessary. That all means the President's Working Group on Financial Markets, headed by the aforementioned Geithner and Bernanke, has liquidity to work with so to keep a floor under equities if they need to. And besides, who wins from this debt ceiling, the Euro TARP, the US TARP, the STIMULUS, etc....the corporations. This is a corporate takeover, and nothing less.
Correct again. And I just want to chime in once again before I log off.
The corporate takeover has been long underway, started way before you or I came into this world. To try and fight it now would be akin to you or I plugging our bodies into one of the Fuku reactors and expecting the rads to stop.
Corporations > US Constitution. I'm not saying I like it but I am saying that is the world we are in.
Learn to deal, bitchez.
Hard-eyed, but realistic.
Stay low and keep moving...
We choose our destiny. We buy ipads, we buy nikes, we pretend to elect our politicians, we do not march on Washington. We will get what we want; and it appears humanity is in a masochistic state of mind and wants to rebuild itself from total complacency. Why, I am still not sure.
Who is this "we"? Equaling it with "I" is just as dangerous, as acting as if it doesn't affect "I".
In other news: Current "democracies" rely on roughly 50% of the population voting for someone, who does not need to keep his word regarding the "policies" he supposedly represents, and is not a not affected by the consequences of his actions. Phrased another way: "They" vote for hope in someone, and nothing else.
Bottom line: You are not "they", and they do not "vote" democratically. The only democratic aspect absent of "you" as well of "them", is not simply killing the bastards. Everything else, is just an excercise in "suspension of disbelief" - and it's quite powerful - in fact, it is what keeps the system running... yet is rapidly losing the carpet on which it is standing.
Yet, what will YOU do, when the house of cards goes down? Will you support the opposite of what you see in "them", that is anarchy, and in the process provoke the same thing happening again? Will you support "the many" being finally supported over a few, and in the process of this "another absolutist"-ideology provoke the same thing happening again?
Will you be among those, still trapped in dualism, or will be one of those thinking in "difference", rather than "opposites"?
EDIT: This message brought to you, from someone who does not vote, is neither employed nor umemployed, owns a lowtech mobile phone, does not buy a new computer every 2 years, owns neither a car nor a TV, does not consume based on short-term considerations, but longterm efficiency, produces a low amount of waste, and consumes a low amount of energy... all while at the same time living a life, which most people would envy, because of efficiency.
How true! The United States is a country of the corporations, by the corporations, and for the corporations. Individual citizenship is worthless and meaningless.
hank, I presume that you are from Chicago, NYC and/or DC, maybe SF.
otherwise, "or not"
- Ned
Agreed completely that this is a corporate takeover. And agreed completely that our elected officials will only ever throw money/debt at our problems. But I think oil prices will ultimately function the way bondzilla hasn't.
I think we're going to see $8 gasoline far, far sooner than anyone expects.
And when we do, all bets are off. America grinds to a halt, and there won't be fuck all the Fed can do about it. Printing will only make things worse.
Things might get so bad California will allow drilling off the coast.
Rising gas prices are the likely scenario considering dim witted Bernanke and his Ivy League text books do not understand what his 14k tonnes of gold are doing in vault.
"What gold?"
-BS " Tradition" Bernanke
'The Gold Tradition' ---http://youtu.be/6-I1mugY5Ds
your avitar made me do it.
http://www.youtube.com/watch?v=W1dJ6mCkw_s
I was thinking the exact same thing. The billion pound pachyderm in the room is the price of energy. I can barely afford to drive to work now, and if the price of gasoline goes up another 20 cents per liter (up in Canada) I will have to park my car because it is no longer affordable for me to get to work. Multiply this by thousands of people like myself that are in the same situation, and suddenly it becomes clear that the end game is complete break down of consumerism because there is no more discretionary spending to be had.
The bottleneck is:
- how to "earn" your living (as always)
- Your expected lifestandard. Or more precisely: Your expected efficiency.
If you manage to earn a living, that is just sufficient for what you ACTUALLY need, you may find yourself living a life, which most others envy (and for this reason, hate you for).
Fact: The system as well as most others, expect you to work on inhuman and inefficient conditions, to sustain a highly inefficient lifestyle with little gain compared to the benefits.
Doing it different is hard - especially setting it up, and the social/moral backlash - but once you manage to go over the threshold, you never ever want to go back, to the insanity that is current western lifestyle.
Don't wait for the system to adapt your way. Extend it yourself to the extend you need.
Just noticed, that apparently thanks to the new "upgrade", i cannot edit my posts about 30 mins after i made them, even if NO ONE replied.... so, here goes my "edit", bypassing shitty 'pro/regress" in the form of "newer is worse" aka "updating is downgrading":
EDIT thanks to "downgrading" follows:
This message brought to you, from someone who does not vote, is neither employed nor umemployed (yet earns a living without tax-sponsering), owns a lowtech mobile phone (yet can call other people more efficiently than others), does not buy a new computer every 2 years, owns neither a car nor a TV (yet understands current events better than others), does not consume based on short-term considerations, but longterm efficiency (yet because of this enjoys a higher lifestandard), produces a low amount of waste, and consumes a low amount of energy (yet because of this can afford a national fight every month)... all while at the same time living a life, which most people would envy (GUESS WHY!), because of efficiency.
Just noticed that i apparently posted this "reply-edit" to the wrong reply of me (or it was just webapps being incapable of dealing with tabs - who knows in fucked up times of web 2.0?).
(it was instead refering to the previous post of me, one up).
At this point, i could blaim me for posting an "DOWN-grade"-induced" reply of me, to the wrong post - or i could just say "FUCK IT. You 'update" something, you ensure that it IS actually an upgrade, or take the blame".
Yep, that's a flame towards sacriledge (and if the suppliers of your 'upgrade' share the blame, you're welcome to forward my flame - yet, you are complicit in distributing what we in german call 'improveworsening'). Phrased another way: If public Zh-posters become beta-testers of supposedly release software, then either your supplier of "upgrades" does a shitty job, or you, or both (most probably the later).
(P.S.: if at this point you think "in web 1.1 everything was better", you share my sentiment and symphaty. Stop working for ineffiecient, complicated jobs, and restrict your work to practically efficient and useful work... 0 jobs offers left? Oh dear, welcome to my world, where civilization is insane, while i am sane in the lunatic asylum, that is called 'civilization'."
not that I want to do it with your post, but how does one go about junking a post now? Where's the New Wonder Interface User Manual?
Noz (the confused)
What deflates? The $600 trillion in derivatives, CDS, etc that are all linked. Talk about taking all the oxygen out of the room. If all the CDS default, the deflation could pull gold below $500/oz. Because of deflation, that same gold could buy 10 times more than it currently does. There is a real risk for deflation if the derivatives market blows up, gold would still be the answer but the paradigm would shift.
If the banks need the derivatives, they will call them, and same goes for the CDS. That is not deflationary, it is the opposite, as it will increase the money supply by cashing out insurance claims, but will also buy equities with inversely leveraged positions. And where you are getting $500 from I have no idea.
Gold performs beautifully in a deflation. Your question "What Deflates" is probably one of the most important. And the answer depends on your perspective: deflates w.r.t. what? The buying power of money increases in a deflation. But what's "money"? Well, the thing which is experiencing a buying power increase w.r.t. everything else, is gold. Gold's buying power is increasing w.r.t. (most) commodities, and w.r.t. all "currencies." The buying power of "currencies" is rising w.r.t. some things and falling w.r.t. others. "Currency" is not money, gold is. Currency is not even another comodity, as it is not "real" and would have no purpose or value absent legal tender laws. It is currency that is the artificial construct, and it is one that is being rejected.
These rejections happen periodically in history. It's just human nature for an issuer of "currency" to abuse the privilege. Greed. It's not more complicated than that.
debt ceiling raise would be 1 trillion? fed balance sheet grows another 1-2 trillion? that pales in comparison to the total of money-as-debt our society has in digital claims of 60+trillion - ergo we WILL have mild inflation followed by severe deflation followed by ultimately hyperinflation - but the big meat in the middle will be deflation as the interest and eventually the claims themselves can't be paid. The question is does the whole cycle (from mild inflation, to deflation, to hyperinflation) take 6 months or 6 years.. (I'd guess somewhere in middle)
THAT ALREADY HAPPENED. Circa Summer 2005-Spring 2009.
6 months to six years...great timeline. Thanks for the intel.
we have neither had deflation or hyperinflation of any magnitude yet - not by a long shot. the deflation we had in 2007-2009 was immediately offset by central bank taking over role of commercial banks. everything has been managed pretty well so far (at risk of much steeper future decline). Gold and silver are not my focus though I think they go higher over time - but wherever they stop on this run - be it $1,800, $2,000 or $3,000 - there is a high likelihood of 50% drop after that (and then of course another large rally). I don't know how many of those cycles there are left before outright nationalization or currency dislocation - I would guess one.
You think gold is a cyclical trade, but monie lasts forever.
the govmint exists to fuel its own system. the corps exist to further themslves. then theres the American people, a separate but not equal system. why arent we equal? we dont band together to confront it. Once that happens, nothing will stop us.
you want to stop the twin cancers of corporate and political elites (The Parasite Club) eating America alive? You only need to make one quick, easy, effective policy decision:
Stop Paying Tax
...the end-game will be fast, alot of fun to watch and you've nothing to lose but everything to gain (makes a change from being shafted all your working life by these obnoxious arrogant cunts)
During 2007, Iran asked its petroleum customers to pay in non US dollar currencies. By December 8, 2007, Iran reported to have converted all of its oil export payments to non-dollar currencies.[8] The Kish Bourse was officially opened in a videoconference ceremony on February 17, 2008, despite last minute disruptions to the internet services to the Persian Gulf regions. Currently the Kish Bourse is only trading in oil-derived products, generally those used as feedstock for the plastics and pharmaceutical industries. However, officially published statements by Iranian oil minister Gholamhossein Nozari indicate that the second phase, to establish trading in crude oil directly, which has been suggested might one day perhaps create a "Caspian Crude" benchmark price
Welcome to the New World Order.
Thanks for the Evite, Lennon. Everything you said is true.
Agreed. Gold is the measure/store of financial wealth. But remember that silver is advisable as well. If (when?) the fiat experiment goes splat on its face at some point, and we return to a form of gold-backed currency, who's to say the gubernmint won't confiscate private gold again to replenish the bullion we hope/speculate is at Fort Knox? I advise both gold AND silver in responsible proportions, each for their own reasons in your portfolio.
I'm not too sure about this new comment forum format...it's going to take some getting used to.
At least there isn't a 'junk' button next to each commenter's name for the convenience of teenagers to junk-bounce all over the place.
75% of America can't even afford to buy 1 ounce of gold at current prices. Once the shit hits the fan the only way to protect the few assets they have remaining after getting ass raped by the financial terrorists will be to buy silver. Or perhaps copper, or perhaps they can trade their fiat for seashells.
Gold and Silver Check.
Copper thefts will decline in Arkansas when the new law requiring it to be documented with ID at the source...
75% of Americans may not be able to afford an ounce of gold, but I bet 68% of Americans can afford a gram of gold.
Don't forget the majority of the world measures gold differently. It's quite simple, gold never gets too expensive, it's just that you (or the general populace) will only be able to get in or get it at smaller and smaller increments as and when you/they wake up.
People round the world don't have to buy an "ounce", they just have to buy.
You should already be long physical Beans, Bullets, and Bullion.
Yep, done all the above got in at 647.00 and wished I would have bought more but oh well
Popo - is it new dollars taking oil higher or is it Gold ?
If you believe Gold is a anti- yield inert accounting metal the results may surprise you.
Although to be honest I haven't a fucking clue myself.
We all know that when a currency collapses in a country that the country immediately becomes something out of a Mad Max movie, where people spend their days searching for food in garbage heaps and shooting each other.
For instance, Argentina in 1983 and 2002, Zimbabwe in 2007, Germany in 1923, Hungary 1946, America during the Revolutionary War, Brazil in 1994, Mexico in 1993, Peru 1990, Russia in 1993, etc.
With oil at roughly 16 barrels/oz. of gold, at $10K/oz. gold would equate to $625./barrel which would equate to about $25./gallon of gasoline.
Not too many road trips to the coast at those prices.
Unless you're already in PMs. If a silver pre-1965 quarter is currently worth about $7.50, then it'll buy two gallons of gasoline. When silver shoots the moon and that same quarter is worth $20.00, and gasoline rises to $6.50, then you could buy three gallons. Gold is an excellent store of wealth, but silver is better for commerce.
But I'm not saying anything new to the ZH crowd that they don't already know.
I was thinking the exact same thing. Two gallons of gas from a quarter pre 1965, that's ANY circulated junk quarter, because it had intrinsic value of silver in it.
I think I pre 65 dime is worth almost $3.
Shows you how worthless the dollar has become.
if you play with the numbers regarding silver and gold annual supply versus oil supply, the 30cents/gallon price of gas of yesteryear seems really high. Its fun to do the math regarding it, it is really an eye opener with silver/gold much higher in value. In inference, the price of gas years ago (pre 1964) was outrageous given the supply. Now we have the means of production but supply on the downside ... at least till the taps of Iraq are turned.
A gallon of gasoline would cost 25 credits and it will count against my allotment of 20 gallons a month. These new US virtual dollars will be the cat's pyjamas.
That's ok. 25 dollar gas we can do. The only problem is being either shot doing a fill up or followed home and the tank shanked in the night.
Garages will be very popular.
I love the smell of US bankruptcy on Sunday evening.
Most would chuckle, but I agree with you. I think now so, more than ever, the risk of modern society coming apart at the seams is the greatest it's ever been. I've been buying physical PM's for years now but about a year ago I began bi-monthly purchases. I'm essentially parking some of my monthly savings. I don't care so much about price as I do the fact that I'm buying and holding something other than dollars with my savings and preparing for the worst. I'm also buying a case a month of different ammunitions for various firearms I own.
The time has come to save your money in PM's. I hear Peter Schiff started a Carribean bank, with a Master Card linked to a personal bullion account so you can spend your savings held in gold & silver. Only kicker is you can't open an account if your an American. I was bummed to hear that because I think it's a brilliant idea. Store your savings in PM's but have instant access to it as if it were paper cash in the form of a debit card.
I dont know what the diffrence betwwen Peter's new bank and James Turk's www.goldmoney.com.
And I think US Citizens can use Turk's program.
I have a Goldmoney account.
You can store your 'money' in PM's or various currencies and you can switch the holdings around. You can also use it as money in as much as you can cash in the PM's back into fiat into either your own fiat account or anybody elses. BUT as far as I'm aware you can't get a debit type card to use on the account. It would be a good addition. Maybe it will come ?
Slipping under the radar.
This is where disagree with many here. Why if we bring truth in financial market, and spend within mean will society fall apart? We get stronger, we become proud.
Now society feel like cheats, we cheats, the markets cheat. If lower financial standard of living, it not end of world. We all help each other.
You need community to survive, not bunkers, guns, or hidden beans. If it happen, instead of hiding behind rifle, go across street and bring hungry neighbor a good stew. It's how to survive, then neighbor help you fix roof.
That only works in high trust communities.
Paradigm shift? Once silver gets to triple digits I would think we aren't in Kansas any more.
Where's gasoline going? I can't tell you - it would merely be my guess - but when I learned to drive it was $0.27 per gallon. That same quarter would now buy me nearly two...
Just sayin'
I think you answered your own question Popo. Gold will reach great heights because everything is going to implode.
1. How high will the price go? That probably depends on how much the central banks need to dig themselves out of debt, because they will be holding most of the gold and they can drive that price anywhere they want. Even $60k looks reasonable if you hold all the gold, need the money to be solvent, and are able to set the price.
2. Will they make gold ownership illegal? They did last time, but last time the common man held gold. They had to wrest the coins out of people's hands. Today, almost no one holds gold except the elite. Why steal from themselves? They could make it illegal, but they don't have to this time around and it's probably not worth the hassle.
3. When? I think the central banks don't even know when. The longer it takes, the better for them. When gold and silver prices go parabolic, and the G-20 gathers for a special meeting, it's over.
What is wrong wiht you gold buyers? Don't you know that gold is a terrible investment and never goes up in price, unless it is in a bubble?
What's more, you can't eat gold, which is the only logical way to judge the value of any product that isn't produced by Apple Computers or a Dot-Com company.
But a stack of Philharmonics once warm, feels sooooo comfortable up your bung. Can't do that with a laptop, can ya....
"I can't see it but I know it's mine"
- The Beatles
"I can't see it but I know it's mine"
That could also be your portion of the national debt.
The debt belongs to someone else...less than 20% is held by the public.
They chose, poorly ;-)
http://www.youtube.com/watch?v=xCUwQIn3GrU
Even more reason for the system to implode. Timmy was underwhelming today. And I like several items of your comment. They (that is, all of the DC pols) continue to choose poorly. We'll see: I did like the shot about "Demz haven't presented a plan".
Asian's markets haven't collapsed quite yet, but the sessions are young.
One could wish that "they" had to live with the results of their choices (good, indifferent, poor). But, then, as a realist here in the "Commonwealth" of MA, I've learned differently (and for the worst).
Reggie Middleton had a great post about the "ASSUMPTION" that sovereign debt == "RISK FREE", so when you say the "debt belongs to someone else" please don't forget that it has metastasized throughout all. That is, everywhere. I was so surprised that German School Districts took on lower tier MBS bonds; who knew?
That tells me (another data point) that we're all screwed. No data, no trust in the public system, yes trust in my brothers (of all stripes, some sisters too).
Degree of preparation remains to be seen.
- Ned
"They (that is, all of the DC pols) continue to choose poorly."
I withdrew, for the most part, because of the DC-Wall Street axis. Most of good sense have.
It is one set of books for us, yet another for them. As much as it pains me to admit, the left was the first to rail about the repeal of Glass-Steagall...and they are 100% correct. Allowing taxpayer coverage of "investment banks" is an obscenity. So, what happens? Lets create new state powers. Lets merge departments under Warren instead of re-instituting Glass-Steagall. I mean, they must be seen as "doing something" right. Its a joke.
Chris "My Wife Works For An Offshore Hedge Fund" Dodd...and...Bwaney "My Boyfriend's Fannie Job Is Fine" Fwank was to be our salvation? It was like I was living in another world.
"We'll see: I did like the shot about "Demz haven't presented a plan"."
They got nuthin. They all stand back and snipe...they're in a box. They promise a world of debt based on the labor of a quarter of the population. They're fucking nuts. If I hear one more time all we need is banks to give out more debt (credit) I'll lose it...we're drowning in debt. Its the one thing we have the market cornered on...idiots.
"That tells me (another data point) that we're all screwed. No data, no trust in the public system, yes trust in my brothers (of all stripes, some sisters too)."
Trust in our brothers & sisters is all there is ultimately. There's good people on the "other side".
Its the crony's of both sides that need rooting out. There is no way I can stand by and accept a tax increase on my wages while corporate board members get stock options for just breathing.
Just as there is no way I should be forced to pay for welfare recipients cell phones as they use them to organize their theft against me.
Just as there is no way I should support military strikes in support of European energy from Libya when the Europeans can do it just fine themselves...or not.
There will be a balance again...one way or the other.
Edit:
Heh...
http://blog.heritage.org/2011/07/24/white-house-confirms-it-will-likely-sign-any-debt-deal-congress-sends/
Libs were the first to scream about the demise of Glass-Stegal?
OK, I'll bite.
Glass-Stegal was overturned by Graham-Leach-Bliley under the libs first black president golden boy Bill Clinton with the help of the likes of a Major Democratic Supporter and past Goldmanite, Robert Rubin, aka Secretary of the Treasury, who went on to be a top paid or being there at Citicorp, an always incongrous entity, that became a Great Ward of the State for about the third time around during the Last Lehman.
Thats all true.
But the consequences of its repeal was first brought to my attention by those on the left. I wrote it off as the standard anti-capitalist boiler plate they always put out.
Most of those on right were yammering on about how they could "police" themselves...nothing to worry about here, they're good boys, honorable men, they wouldn't put their own companies at risk, blah blah blah.
I understand why it was done, retrospect is a wonderful thing. But what we see today is the consequence/result of social & financial engineering.
The wall of separation has to be built again or it will happen again.
My opinion of you has risen.... a honest admission on your part...
I want a bipartisan show trial that ends in the lynching of Gram and Rubin.
I try and call em like I see em Flak.
I believe I first ran across the discussion over on Yves blog, some on the left were not happy which peaked my interest on what had been repealed. I didn't pay much attention to it when it was happening.
But don't get your hopes up with me, I'm still a gapped toothed country hick, who's never crossed the county line, with or without my passport...lol...and my opinion of Marx and his idyllic centrally planned economy will never change, I rest comfortable on the history of it...and I'm still never gonna tell you how much I make/made ;-)
That statement hits the nail on the head. The public has lost it's innocence and no longer trusts the markets or the political system. Once our eyes are opened they can never put things back the way they were. The public may be sheeple, but they know they were lied to and can never trust again no matter how many trillions they throw at this abortion.
Philharmonics are my favorite and, though I live in the US, prefer them to Eagles. If they try to confiscate Eagles or tax them at 90% I'll still have my Phils.
We can't eat gold but we can certainly use gold to exchange for as many Ipods as we like to fill our stomach!
You cant eat paper either but you can wipe your ass with it.
Agreed.. instead of going parabolic.. it goes "full boner".
Yes, a new unit of measure, as in, "Gold was up 2 Boner's today as Global paper tumbled 5 Bernank's."
The "Geitner Counter" is the new tool to measure G3, the velocity of gold thru the system.
Euro standing on the edge of a cliff, and the frn is strapped on top of an old nasa SRB. But what i really can't wait for is, how in the hell are they going to simultaneously kill the frn and the euro at the same time? Monetization requires a weaker note, oops, somehow i suspect Ms. Merkel has shit running down her leg, right about now.
why worry.. buy some now as the debt ceiling is being raised and you can sell some at $1700 and hold the rest.. it will be a stagger step all the way up...
do you really think gold will crash against fiat?? only if there is a serious liquidity crunch but then it will skyrocket afterwards
Is it going to come down anytime soon? I have to cover at arnd 12 midnight ET, thats when indian markets open....
horrible trade my friend, the trend is your friend until it isn't.
i've fought the fed and the fed won.
Haha...you are an idiot. It's going to be significantly higher by that time as the Asian markets get more and more worried. I hope you get crushed.
Why are you like that my friend? please empathise with me :( It was just that i put my faith in your govt's maturity...i guess i was wrong :(
So you are saying if they raise the debt ceiling that is bearish for PM's ?
Hu?
Gold $1618.91 at the moment !
see for yourself....................
http://www.sgxniftydowfutureslive.com/index_files/DOWFUTURES.htm
I'll assume you're serious, so I won't rub your nose in it.
But if you had faith in the US gov't, you just learned a very important lesson.
;(
Sorry I made fun of you on another thread rajat, because I half-thought you were a troll. So here is some free advice.
1. Never, ever, expect my US government to act like an adult, and,
2. buy physical gold and silver, because it will always be worth something.
Never have faith in the US government sir, very few here do.
I have zero sympathy for you...as I said before, you're terminally stupid.
Rajat,
You need to study up on fight club. They're hitting you to make you better.
You're right, I empathize.
I empathize with the fact that you are a troll that has no better life than trying to get a rise out of commentators on this forum.
I empathize with the fact that you pretend to be Indian just to add some "pizzaz" to your trolling. You are about as Indian as the Pope is Chinese.
I empathize with the fact that having so much time to troll means that you're either unemployed or too retarded to get another job. Either way, I really feel sorry for the taxpayers that support you.
How's that? Was that kind enough? Now STFU and go away.
:clappa:
+ 1615
Words have influence, he comes to confuse the illiterate, the gullible, the weakest amongst us, the young, to get their last penny...then coyly asks for sympathy or empathy as he reaches under his cloak for a dagger.
I give him nothing but contempt.
Faith in our government? Are you really that naive? We don't even have faith in our government.
Hmmm new debt ceiling to print trillions more...gold goes down LONG TERM? What kind of economics is that?
its called the manipulated market theory that phd's thought up
Why? Perhaps becuase you've been spamming every post with your idiotic jibe about making money on your gold short since yesterday. I'm glad you failed.
+1. It is now clear how rajat asshat makes the dot stay on his forehead. Look closely and you will see the wingnut on the back of his head.
Dan Norsini on King World News " Shorts are piling on hard for this coming week, could be a drop on the 27th"
Options expiration - always a drop in that area. From what level though - we'll see.
Either way, unless you daytrade gold, it should not matter in the medium/long term. Both the mini-default/debt limit increase are good for gold in that time-frame.
I know but I got a load of cash in May and I figured I would wait till July 27th to blow it all on gold. It worked last year.
Patience. They're bound to take it to the bottom of the channel again. Might only reach 1590 when it does, maybe more, but patience.
Best advice: every 5% drop buy 5% of cash allocated, every 10% buy 10%. Good luck.
$1590, I can live with. I got Canadian cash too and the CAD is down on this gold rally so far FFS.
Do you just randomly pick a time to short? You must be a novice if you are trying to short here. What in the price action says anything about a fall? Only fools get in front of a trade.
Why are you asking us if it will come down? You made the trade, you decide.
don't forget to add some goldbugs with critical thinking and paranoia
Traaaaaadition!
http://www.youtube.com/watch?v=gRdfX7ut8gw
Nice...I doubt many people would've picked up on that.
not much multiculturalism in that video....
http://www.youtube.com/watch?v=GlY7YnWvZBU
Better they come up with a plan quick
Remember: Nothing goes straight up or down...
Ummm....Lehman, MBIA, AMBAC, Citi, Bear, etc. all went down in a straight line.
www.silvergoldsilver.blogspot.com
I have always been a man of tradition.
Never forget: the FRN is just a piece of paper. Sound and fury signifiying nothing. But gold...ah...I can't wait till the 98 percent of those US citizens who own no gold scramble for it.
Remember tho, Gold isn't money as said by the Almighty Bernanke. Gold is just a worthless metal that you can't eat.
/sarcasm.
And it only costs a few bucks to pick it up off the ground, anyway. What's the big deal?
well, it used to cost $5 to dig it out of the ground because that was the tradition but with things being all transitory and shit, now it's going to cost $7 which means no more double shot of espresso to go with a hazelnut flavored ipad.
I've given up cutting my lawn as I'm chewing through so many mower blades. The shit's everywhere. A nuisance metal.
ah yes, the 'wise' one who studied the depression and replicated it perfectly
The 98% are now looking for the local cash4gold site. Many people are stupid.
But as W.C. said, never smarten up a chump nor give a sucker an even break.
Those sites are evil. Gold IS money and they taking advantage of the needy by giving them a fraction of it's worth.
Is there Any exchanges that hold to shariah law? Maybe someone can chime in on it. The 1:1 exchange rules, fair market price and such.
http://www.catsforgold.com/
endgame bitchez!
SO WHEN THEY RELEASE THE NEW CONAN MOVIE, WILL HE CONQUER GOLD???
I don't know.. but Arnie better show up in a cameo.. and there better be some jugs in it just in case it totally sucks, which it probably will.
no, but he will solve the riddle of steel which is gold.
Buffet still does not know what to do with gold...
buffetts a pimp, a repulsive pig
My "traditional barbarous relic" is shouting from the roof top. And the diamonds are very happy, too.
" Any questions?"
What happens when austerity actually bites due to less govt stimulus in economy?
Paper pushers have to find something productive to do?
Not sure how a default would really be so USD bearish, honestly.
Seems like a constraint in supply to me but whatever.
Funny thing is that it's not US currency. It is Federal Reserve currency. Strange world.
The $ is holding up well, all else considered.
Wouldn't it be great after all the banker doomsday bullshit that we defaulted and yields went lower.
I wonder if those 22K 1600 strike GC calls are still out?
You go girl.
Gotta admit...... western leaders are sooooo,...smart!!
Beware of the Deal...