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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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Save a country, hang a commie!
Any answers? Any rags any bones any bottles today???
Got Gold?
well tonight a few of us are going out looking for manhole covers and high tension wires to steal..........so let me get this straight. now according to my information, when you cut through the insulation on a 14,400 volt line, its ok as long as you have rubber handles on your cutter........correct ?
It was nice knowing ya...
Just make sure you are wearing steel toed boots and standing in a salt water puddle!
Heres to crispy critters:
http://www.documentingreality.com/forum/f10/stealing-copper-29472/
check and double check. thanks for the timely advice.............
Yikes!
I'm shocked, SHOCKED that you would post that :)
Give's me a whole new outlook on BBQ.
thats deadly funny as was the reply... who ARE THESE GUYS jesus there are fast people here,
Electrifying aint it?
Now starring in the latest episode of 1000 ways to die......
When cutting 14,400 volt lines you use a 30.06 or a 7.62 X 39. These tools are multipurpose and can be used as currency.
You have to jump just as you make the cut. If you're not touching the ground, then the electrons can't use you as a path to it. Practice a few times on 120V lines to make sure you have it down.
Just make sure you lick the handles on your wire cutters first..
Everyone else get a camera and watch the drift-kabob show..:)
http://www.indyarocks.com/videos/Man-Electrocuted-On-Top-Of--A-Train-467208
that is crazy isn't it. i saw that a while back.
it works safely if you short the wire to ground with a bar of gold or silver ... first
debt is not money...
+1
Awesome!!! Retirement feels that much closer.
well, now, where the hell is prechter damn it. he said gold was going to 600..........that asshole cost me a lot of frn's ..........
I would be careful because once the debt ceiling is raised gold is going to take a hard hit.
maybe , but it will continue on its same road........any pullback of that nature will be shortlived......the gold bull will not be denied.......we are seeing things now that people have not seen in over 30 years...........
Well, I basically agree, depending on what the deal is and how hard people are willing to squint to make it look good. i'm extra long at the moment, time to sell the rip so as to buy the dip not too much later, I think. But as always - ticker is the truth, and my BS or anyone else's matters not at all. So, the watchword is: watch.
Isn't that line thinking against everything Logical ? The MSM was planting that seed last week on every channel. (Debt agreement equals Gold down)
Print another $2.6 Trillion and Gold goes down...hu ?
OP-EX-PSY-OP frontrun
Biatchez !!!!!!!!!
Yes, As soon as the agreement is made, it will drop back to a min 0f $25/$45 easy.We never have an issue of seeing Gold dumped at near $50 oz margins, takes a mountain exploding in D.C to move it UP $50.
I plan on selling 50% of my position, before Tues, and wait for the DIP,that the idiots will think an agreement will mean risk OFF.
They will equate an agreement as problem solved.
And then doubling up, esp if it get's hit a $100.00+.
Going to dump all silver at $45/$50.00 if it makes it, back into 100% Gold.
I hope so, I'm looking for another chance to buy.
No debt limit raise = Gold up. Debt limit increase = QE3 + Gold up.
Very good, LJS, very good. Nice to see someone else also holding the program to this great show.
Green lights as far as I can see. Just keep an eye on the rear-view mirror for legislative risk.
Hell, my big plan assumed gold would be down this summer, fuck!
Be patient my friend until they come up with a plan...
don't worry..........just buy, buy , buy..........krugerrands are nice...... 1 oz, 1/2 oz and 1/10 oz are nice.........
Bought a 1/2 oz Philharmonic around 1PM. Hopefully my order is honored.
The DXY is barely moving at the moment. That leads me to suspect that the markets are not really taking this 'Default' business seriously.
I am thinking that the selloff in Stawks and the pop in Gold and Silver may just be the Wall St. Crowd 'Explaining' to the politicians what might happen if the debt ceiling is not raised.
Once they get their way, and you just know that they will, all of this will turn 360 degrees. Stocks will explode upwards on the 'Great News' and Metals will sell off.
This will almost certainly happen before Options Expiry on Tuesday.
If, by some miracle, that does not happen, the big shorts are going to eating some serious losses from the last 2 weeks of selling massively into the Gold rally.
Bonds have been calling bullshit on this charade all along. The media is just guiding the sheep to slaughter. "Hurry, short everything, the end of the world is here!"
My opinion as well.
"Hurry, short everything, the end of the world is here!"
We really need your revenue when we reverse on your ass.
Im not big on conspiracy but that wouldn't surprise me.
It was. A month ago it was $1OO cheaper than it is now. Dont worry it will go down again, someday.
50% sarc. 50% scared shitless:
The dead will rise long enough for the grave robbers to stripp the corpses and become overnight millionaires.
Who's gonna be the sucker that diggs up the Keynes' family grave?
I just saw that at kitco, came over here to gloat with the other gold bugs.
I just saw that at kitco, came over here to gloat with the other gold bugs.
"Any questions?" ... Yes, I have one ... Have you told Karl "Kool-Aid" Denninger?
I just saw my traditional tail risk wagging.
Is this bullish for GPL? Hahahahaha....
"Gold isn't money -- it's better than money!" -- Rick Santelli
gold is not money. its just a asset...........according to chair satan.
...and a damn good asset too! Wonder how the new Asian market for metals will do this week? They're just getting started.
oh man, forgot about that one. what if the chinese buyers start requesting delivery of product?
130,000,000 chinese will now have the ability to buy and take delivery of up to 10 ounces of silver!
Tuco Benedicto Pacifico Juan Maria Ramirez
That's 130,000,000 middle class Chinese who are the target market.
Tuco
Who the fuck cares what Benji thinks anymore?
He's screwed the pooch.
QED
Couple more questions I'd like to hear Ben answer:
Is currency an asset?
If yes, then which one is the higher quality asset, currency or gold?
the scum sucker can say in front of all who watched his testimony that gold is not money, a LIE and still, he gets his press conferences and the citizens of the United States don't INSIST on an audit and end to this, a privately owned corporation which is THE FEDERAL RESERVE CORP. made for the owners by the owners to enslave the citizens of the US forevermore. No amen here.
When will our country get over the idea that he is an expert, and instead, he was a chosen puppet with a big academic past to outwit all naysayers so that he could lie and cheat for the BIGGEST PRIVATELY OWNED CORPORATION OF ALL TIME, all made rich by the fact that US citizens are getting scammed, and ravaged all in the name that their beloved banks are toobigtofail (too sacrosanct based on their lobby power) and unless the citizens get the truth and the facts to refute the cartel, we will be enslaved by the results of a heist that was named a bailout, and possibly the heists will continue until we are a weak defensless nation with nothing left to gut but the soul and the will of the people.
Maybe this day will go into the history as the day when gold climbed $100 ?
Now that would be truly terrifying, because of the implications, and I say that as one who is massively overweight metals.
That day will come.
Uh, bigger percentage moves in the 70's. Back then $50 moves were normal, so if it were to happen today, let's try $200 to start with. I'll take it!
where is math punk?
Shouldn't you be in a corner some where worrying about the Rothchilds?
if you want to join the HPD fan club , then get in line asshole?
$1624.50 Bitchez!
Over 1622...
$1622.60 last, up $22.30, and I'm still calling for a $50 up day sometime soon. Mr. Market has long ago lost his voice in the equity market, and Mr. Gold may be his replacement.
Count it, bitchez.
Spx futures at 1328. Nothing to crazy so far. Surely the congress critters announce a deal this week especially if a nasty selloff ensues.
So, when they announce a debt plan, gold may drop some. I have no clue. 15, 25, 35 dollars. Who cares. What is this all about guys. Not the stupid debt ceiling. It is about the beginning of a 3rd world banana republic. This will take years to sort out. Until we have leaders, forget about it. Just add if you can on dumps. Been working for a few years now, me thinks. :)
Yup. Short term, it is reasonable to assume that the usual suspects on the short side will jump all over the metals instantly upon news of a deal.
Excellent buying opportunity on that pullback.
Over the medium/long term, you have to ask how an agreement to pile on trillions more in debt, much of which will no doubt be monetized by the Fed when QE3 is announced shortly, could conceivably be bad for the metals.
Good question !
Parabolic! Get it while it's still on sale at 162x
But my broker told me gold was a bubble and I should buy some NFLX, LULU and AAPL
/sarc
My wife told me that so I sold all her gold jewelery and bought that Sino-Forest stock everybody was recommending.
Ha... that old chestnut. The reality = Gold isn't a 'Bubble'... Gold's an indictator of Bubbles being created or already existing in other markets.
Volatility, the bankers are just loving it. You can make money without it, but it's a LOT harder. At least for this evening, my heart will soar.
FX stable as "no lesser of two evils", which means "punt" to the ultimate currency, THE RELIC! AKA, a Giant Cockroach. Hee HEE HEE!
CRAMER BLIND SQUIRREL
1 35,984
We always hide an easy one for the special kids.
I never get tired of this: http://www.youtube.com/watch?v=gUkbdjetlY8
Just blew soda into my nostrils.
It'll be illegal to own it if this keeps up for much longer.
I agree, if the investment bankers who own our country don't own 99% of gold and it keeps going up it will be made illegal to own. At which case they will give it to the bankers and everyone else will be stuck investing in stocks.
It's nice to live in a fascist state. <--sarcasm
When gold is outlawed, only outlaws will have gold.
No, Mr. Bond, I expect you to die.
Once you let the genie out of the bottle there ain't no puttin' it back in. Sorry bitchez.
Nope. It only takes 15 minutes to put the genie back in the bottle.
That's why I always ask the wife after being intimiate if I can leave it in..
This is just the first phase. Wait until everything (gold and silver included) goes bidless, and the whole market collapses into the abyss.
Gold and silver bidless? Good one.
Until Barry Soetero and the rest of his socialist gang are gone, no real reason for gold to stop rising. BTFD.
Pfft..I bought before Obama got elected. St. George II spent until the point of insolvency, the Democrats are just adding fuel to the fire.
Does anyone remember one of the commentators on cnbc telling a story about how his mother asked him if she should buy some gold?
Sons reply NO! and chuckled, way overbought.
That was at 1253. a 29% rise since then.
I think it was this rodent, TIMOTHY SEYMOUR.
So my question is should CNBC fire TS and hire TSs Moma?
No. Bring back Jeff Macke!
https://www.youtube.com//watch?v=79HLnTPxMho
I miss Walter Cronkite.
http://www.youtube.com/watch?v=L9qyI7JVoi8
Will we ever see another newsman who puts integrity and honesty above ratings.
Are you guys the evil speculators that Obama and the MSM were warning us about...you are all manipulating the gold and silver market to go up!
Ah, I think it's the MSM and the gubamint makin' dah prices goes up:)
Them's my buds.
Keep a-cock-in it up, folks!
Disagree, not a hard hit. Will move down and my guess is recover within 2 trading sessions when everyone figures out we are F____D Big time.
Tradition is not suppose to do this. LOL
ES already up 10 points off the lows.
Impossible to see much weakness in stocks as long as gold and EUR/USD stay well bid.
Impossible my ass. That was so 2009/10
the drive by is being defended against.
http://www.youtube.com/watch?v=XaagtEw44Ec
higher ground and the musk ox..
ES is not really plunging the way I would expect. Nor is the DXY. Evidentally, somebody out there has some hope.
Agreed. Interested in your opinion on a couple of technical observations though...
1. Gap open in the ES after ominous doji on 7/22
2. USDX testing support at 74
imho these are not bullish signs
Its not wise to stand in front of human waves of gold and silver buyers.
Futures down 1%, oil down .60 cents. This is the Armageddon that Turbo Tax T talked about. Bet we are green by the close.
lots of headwinds for PMs this week... they will get a deal (at least by wed), Comex expiry on tues, and billions in bonds to sell (supposedly without bennie buying any)... they will be hit as soon as the deal is done (sold my silver friday)
considering both the US and the EU are walking the razor's edge of default, this move might very well be real (finally).
edit*: I miss 'flag as junk' already.
I am fully committed to PMs(gold and silver mostly) and have been since 2008 (finished trading paper vehicles in 2010). I have tried to discuss/persuade friends & family of gold and silver's value... all to no avail for many reasons... no surprise to most of you. I have read many thoughts on past and possible future gold/silver confiscation. Most I can dismiss or deal with, but I do have a nagging thought. Is it possible with so few people (average people) really owning it here in the US, when the government decides to come after it they will have the blessing and assistance of the have-nots? I mean when the SHTF and if/when the Gov't takes draconian steps to gather it (rewards to turn in others), will those have-nots really see it as a problem? I am also thinking of guns. When most people do not have an immediate interest in a matter (especially in stressful/trying times), they tend to say, "so what? it doesn't affect me right now."
Depends on where you live, I think. Probably wouldn't be a huge uproar about gold confiscation in my area, but owning guns- sometimes whole arsenals- is the expected thing, not an exception. Lots and lots of guns buried in PVC and packed in Cosmoline in the Midwest. Confiscation would never work here- especially in trying times, when those guns might be needed to hunt for food.
Different areas require different strategies- I have 12% defensive rounds for my weapons and 88% hunting loads. There isn't likely to be much real violence, but there is bound to be plenty of poaching if it comes down to that.
Dillon makes nice reloaders. You can't quite print ammo, but....some pounds of powder, primer and bullets are nice to have around.
They can safely ignore gold and silver this time around. In the 3Os there was a lot of gold currency outstanding, they had to get that out of the way before they could rev up the printing presses and inflate their way out of the depression. This time there is nothing standing in their way.
Although I'm not a LONG TERM gold bug, this doesn't surprise me at all. I think $2K+ is defnitely a possibility...at least in the "short" term.
HOWEVER, if you just hold on to gold forever, it does you no good at all. That is, just like a currency, you have to exchange it for something with some "real world" intrinsic value AT SOME POINT...otherwise, it is useless...
To the gold bugs who've been on the right side of this trade for the past few years - nice work...no sarcasm intended at all.
That being said, those gains are essentially meaningless until you "cash" out in one way or another.
Five years ago there were a lot of people who thought they were "rich" because they had a ton of equity in their homes. Maybe gold is different...maybe not...
Bottom line - don't count your chickens before they are hatched.
I have a feeling that when this shitstorm is over in a few years, we won't be selling our Gold, we'll be spending it.
"Cash" it in when you intend to purchase another asset or tangible good/service. Until that time comes, sit Ubu, sit.
I could be mistaken, but I don't see PM holders in the same light as home owners' equity -- that is, they aren't using their PMs as an ATM.
Re PM holders vs. home owner's equity ATM - agreed...and that is a good point.
However, I wasn't really referring to those home owners who were taking out equity lines like it's going out of style...
I was referring to those people who simply bought a house, say in '00 or so, and thought, maybe in around '05, that they had essentially won the lottery or something...
...as they would easily be able to sell the house for 3 or 4 times what they paid...
Yes, they COULD have sold the house for 3 or 4 times what they paid in '05...but they didn't...perhaps because they thought it would just keep going up...
In the end, that "wealth" was basically a mirage.
Granted, there were some people who DID sell at 3 or 4 times what they paid...and I think we all agree that they made a wise decision.
I BEGGED my wife to sell back in 05!
We were in the exact scenario you described and I would talk to her every day about it.
At least I get to do PM's without her interferece now. All I need to say is 2005 and she backs out of all financial arguments...
women need a house no matter who pays for it
58% of all gold/silver is now being purchased by 2 countries... China and India. Much more is being purchased by other SE Asian countries and Mid East oil countries.
IOWs... Western nations are not the monopoly PM purchasers that they were in 1980 and prior...
Of course, Western nations might be controlling price discovery in the paper PM mkts... How long will that last?
.
Good point. But as long the Chi-knees and the ROW consider gold is money, then the Bernank's former monopoly munny is the risk.
I don't see anything reversing the trend. Chinese-Iran just ditched the USD for trades, following the Russian deal. If oil moves away from WRC, then...... game over?
Oil prices double for USA? It's not going to be pretty.
again, there is what, .84oz/Au on the planet per human?
and the average price of a home in the US is ~$230k (give or take) or 142oz/Au?
something is definitely out of whack.
Don't count your eggs until they hatch, and Gold Always Hatches, Bitchez.
We've really been in Default since 1971, and Gold is what will square the Debt
Yes, 8-15-11 marks the 40th anniversary of Nixon closing the gold window. I have to think the demons have something special planned for that date?!
Tuco
Obama is the Amy Winehouse of spending. Won't end well.
+1
The way they are handling the debt ceiling is that the ratings agencies, if they still have any balls, are going to have to downgrade. $4t over 10 years is just pissing in the wind. An 18 month extension or less will be seen as rediculous. Ceding Congressional authority to the Pres (the McConnell plan) is unconstitutional; if SCOTUS doesn't act, the revolution will be on.
So the markets may get a temporary pump, but the smart money will be looking for an exit.
$4t over 10 years is just pissing in the wind.
Yeah, but they can't even agree on that!!!!
I smell default and its getting louder and closer.
China is the only honest rating service that matters and they have said that the U. S. has already defaulted!
Tuco Benedicto Pacifico Juan Maria Ramirez
Did you see someone wearing this t-shirt in Austin this weekend?
roses are red, violets are blue, in soviet russia, POEM WRITES YOU!
go gold! go silver! slay the beast of U$URY!!!!
Default Bitchhez.
And I don't even own any gold.
I have mixed feelings about all this.
On one hand i am happy to see gold rise, on the other hand i am sickened by the fact that this summer didn't go as planned, gold didn't correct and i can't BTFD to add to my position.
Dammit
Sniff........Sniff..........Ladies and Gentlemen this smells similar to when LEH went tits up. Gold and SI ran up bigtime over night only to start a big fall over the next few days. I remember well as I was on a vacation and saw my account run up so high it made my eyes bug out. By the end of that morning I was scrambling to get rid of all my PM contracts. If I'd waited two more days to do so I would have been broke - literally - financially ruined.
Longs should be cautious here. Good luck.
Anybody carrying a leveraged position in paper PMs has a death wish, imho.
I have no PM.
But I think you are right.
If I were to have PM it would be physical.
The paper PM market is as much a shadow as the $1.5 Quadrillion derivatives market.
Let me see if I get this.
Last week the Euro has a crisis.
The insiders make money.
This week the Dollar has a crisis.
The insiders make money.
But nothing has been created.
Is that about right?
Yep, a fortune made by those who have the "deal/no-deal" script in hand.
Not sure I understand the analogy.
But my instinct tells me you are right.
The whole thing is a criminal enterprise.
Slightly OT, though not entirely -- thought this was a nice backdrop to a Sunday evening beer as we watch the current episode of the Fiat Soap Opera -- Fuck the Fed by Neal Fox:
http://www.youtube.com/watch?v=-6Fpoebz2LE
Well, this is nothing so far...
Just lickin' my chops for whats to come ...
http://i.dailymail.co.uk/i/pix/2011/07/22/article-2017658-0D197886000005...
I heard they named this animal, "TEPCO."
I tried to Buy Gold at NyseLife Aug 11, hit the offer, but then offer disapears and a new higher offer apears. Tryed it five times. Gold is at HFT mode. No trade volume.
Just got back from a weekend in Silverton CO getting the whole tourist dump on mining and milling. Seems to me Gold and Silver aren't that easily "picked up off the ground"! Those guys were pretty tough back in the early 1900s....and even into the 1960s.
The hot springs and ice climbing in Ouray are very nice. Silverton had a trippy speed skiing run that was an expressway to the afterlife. I wonder if they still hold that tough bike race from Durango to Silverton called the Iron Horse Classic. Pretty views.
Timmaay just said default would be "devastating"! Devastaing to the banksters....no doubt. Oh, boo-hoo. Sorry Timmaay, there will be Dancing in the STREETS if we default on the fraudulant crap debt the banksters ran up. The rest of the world lunched on our Foreign Aid for decades; they can handle a little hair cut now.
Sounds about right but as in the name , I'm already all in so it's cool :)
just rotated the silver...
stays fresher
if you turn and restack the bars
every 6 months or so...
tough job, but somebody needs to do it ..
paper is poison
Just like they used to rotate the Dynamite Crates?????
I like to make the bars and rounds into little forts for my kid's army men.
GOP PLAN: They will offer their own bill tomorrow. GOP to give members details of bill at 2p ET, release bill to public later.
Great! An obnoxiously one sided bill that will surely screw over the middle class is what is needed. /sarcasm.
Don't get me wrong the final bill will screw over the middle class, but at least it will be bipartisan.
I don't think there is a middle class anymore.
The one thing that is definately dead in Washington is bipartisanism. It has been replaced by a sponsor/puppet master. That is who they are answering to.