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Getbig Main Boards => Politics and Political Issues Board => Topic started by: Bindare_Dundat on April 05, 2011, 07:26:27 PM
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Expect new highs in PM's soon. I'm grabbing more silver tomorrow.
This is getting too easy. I hope you guys were listening. ;D
Gold hits new record high, silver hits 31 year high
There was nothing standing in gold’s way on Tuesday afternoon, with bullion prices hitting a new record high in nominal terms. Gold (GC-FT1,453.400.900.06%) touched $1,452 (U.S.) an ounce, up about $19, stretching its gains to 10.5 per cent since it began to recover from an early year dip in late January.
http://www.theglobeandmail.com/globe-investor/markets/markets-blog/gold-hits-new-record-high/article1971582/?utm_medium=Feeds%3A%20RSS%2FAtom&utm_source=Home&utm_content=1971582
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Nation/Economy/Currency going down
Gold/Oil/Silver going up!
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I don't think the signs have ever been clearer that the country/world is beyond fucked. There is not going to be recovery any time soon, things are going to get worse as long as the idiots in charge keep coming up with bright ideas that do nothing but promote grief.
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Gold hits $1462/oz.
Silver $39.71.
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I don't think the signs have ever been clearer that the country/world is beyond fucked. There is not going to be recovery any time soon, things are going to get worse as long as the idiots in charge keep coming up with bright ideas that do nothing but promote grief.
Dude! The number of people of foodstamps has doubled, DOUBLED, since 2008!
If that's not a sure fire sign that this economy is gaining steam, than I don't know what is!
Mr. Market, as manipulated and centrally planned as it is these days, is telling us something. Fiat currencies, specifically the USD, is headed in the wrong direction.
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Dude! The number of people of foodstamps has doubled, DOUBLED, since 2008!
If that's not a sure fire sign that this economy is gaining steam, than I don't know what is!
Mr. Market, as manipulated and centrally planned as it is these days, is telling us something. Fiat currencies, specifically the USD, is headed in the wrong direction.
Big Mal told me Obama got us out of the recession!
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Dude! The number of people of foodstamps has doubled, DOUBLED, since 2008!
If that's not a sure fire sign that this economy is gaining steam, than I don't know what is!
Mr. Market, as manipulated and centrally planned as it is these days, is telling us something. Fiat currencies, specifically the USD, is headed in the wrong direction.
wow, stunning statistic! I didn't know it doubled since 2008.
If they just hand everyone welfare checks doesnt that get the economy going? Who spouted that again?
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wow, stunning statistic! I didn't know it doubled since 2008.
If they just hand everyone welfare checks doesnt that get the economy going? Who spouted that again?
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Yikes! :o
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New highs again.
Gold $1467/oz
Silver $40.01/oz
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crazy :)
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crazy :)
It's coming............ ;)
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It's coming............ ;)
did you see that schiff clipp Whork posted on goldline?
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did you see that schiff clipp Whork posted on goldline?
No, what's the discussion?
By the way, just hit $1470. ;D
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$1475.00!! Boooyahhh :P
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$1475.00!! Boooyahhh :P
Clearly a sign of confidence in our future and current fiscal path. ::) ::) ::)
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New high hit again at $1480/oz, silver hits $42.
Hahahahhahahahahahaa
A big thank you to all the crazy fools like Ron Paul, Schiff, Faber, etc..for opening my eyes.
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Hope and change economics.
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This is getting too easy. I hope you guys were listening. ;D
Gold hits new record high, silver hits 31 year high
There was nothing standing in gold’s way on Tuesday afternoon, with bullion prices hitting a new record high in nominal terms. Gold (GC-FT1,453.400.900.06%) touched $1,452 (U.S.) an ounce, up about $19, stretching its gains to 10.5 per cent since it began to recover from an early year dip in late January.
http://www.theglobeandmail.com/globe-investor/markets/markets-blog/gold-hits-new-record-high/article1971582/?utm_medium=Feeds%3A%20RSS%2FAtom&utm_source=Home&utm_content=1971582
You meant to say the DOLLAR HIT RECORD LOWS. Gold is NOT increasing in value...THE DOLLAR IS TANKING IN VALUE.
I would be surprised if the dollar lasts the rest of 2011
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Hope and change economics.
I remember all the anti Schiff posts on here saying how he lost tons of money for investors, that he sucked and Ron' gold talk was a bunch of baloney. Looks like things are going as they predicted it would, it's a slow process but one that is well under way now.
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Notice the briiliant analyst benny hasn't said shit lately?
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Notice the briiliant analyst benny hasn't said shit lately?
Someone must have told him that "working on Wall Street" didn't include selling jumbo dogs from a cart.
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Expect new highs in PM's soon. I'm grabbing more silver tomorrow.
$1486.80/oz gold
$43.05/ oz for silver
;D
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Gold just hit $1492.00.
Stocks nose dive.
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Related News:Canada · Commodities · Europe · U.S. .Gold Tops $1,500 on Outlook for Escalating U.S. Debt, Dollar
By Kyoungwha Kim and Pham-Duy Nguyen - Apr 19, 2011 12:45 PM ET
Business ExchangeBuzz up!DiggPrint Email . Gold bars and coins are displayed at Goldcore Ltd., in London. Photographer: Chris Ratcliffe/Bloomberg
(Corrects year in sixth paragraph.)
Gold futures rose to a record $1,500.50 an ounce as U.S. debt concerns weighed on the dollar, boosting demand for the precious metal as an alternative investment.
The greenback dropped against a basket of six currencies following Standard & Poor’s revision yesterday of its long-term rating of U.S. debt to negative from stable.
“Investors are shocked and flocking to gold as the downgrade threw a cold blanket over the dollar,” said Lim Chae Myung, a Seoul-based trader at Hyundai Futures Co. “The bullish trend becomes pronounced as more and more people get out of the dollar to buy hard assets.”
Gold futures for June delivery rose $2.40, or 0.2 percent, to $1,495.30 at 12:33 p.m. on the Comex in New York after reaching the record.
Gold for immediately delivery rose as much as 0.3 percent to an all-time high of $1,499.32 before erasing gains.
Before today, futures climbed 31 percent in the past year. Lim said the metal will reach $1,600 in 2011.
Gold has gained every year since 2001 on increased investment demand for commodities.
To contact the reporter on this story: Kyoungwha Kim in Singapore at kkim19@bloomberg.net; Pham-Duy Nguyen in Seattle at pnguyen@bloomberg.net.
To contact the editor responsible for this story: Steve Stroth at sstroth@bloomberg.net.
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Related News:Canada · Commodities · Europe · U.S. .Gold Tops $1,500 on Outlook for Escalating U.S. Debt, Dollar
By Kyoungwha Kim and Pham-Duy Nguyen - Apr 19, 2011 12:45 PM ET
Business ExchangeBuzz up!DiggPrint Email . Gold bars and coins are displayed at Goldcore Ltd., in London. Photographer: Chris Ratcliffe/Bloomberg
(Corrects year in sixth paragraph.)
Gold futures rose to a record $1,500.50 an ounce as U.S. debt concerns weighed on the dollar, boosting demand for the precious metal as an alternative investment.
The greenback dropped against a basket of six currencies following Standard & Poor’s revision yesterday of its long-term rating of U.S. debt to negative from stable.
“Investors are shocked and flocking to gold as the downgrade threw a cold blanket over the dollar,” said Lim Chae Myung, a Seoul-based trader at Hyundai Futures Co. “The bullish trend becomes pronounced as more and more people get out of the dollar to buy hard assets.”
Gold futures for June delivery rose $2.40, or 0.2 percent, to $1,495.30 at 12:33 p.m. on the Comex in New York after reaching the record.
Gold for immediately delivery rose as much as 0.3 percent to an all-time high of $1,499.32 before erasing gains.
Before today, futures climbed 31 percent in the past year. Lim said the metal will reach $1,600 in 2011.
Gold has gained every year since 2001 on increased investment demand for commodities.
To contact the reporter on this story: Kyoungwha Kim in Singapore at kkim19@bloomberg.net; Pham-Duy Nguyen in Seattle at pnguyen@bloomberg.net.
To contact the editor responsible for this story: Steve Stroth at sstroth@bloomberg.net.
haha
its a beautiful thing.
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New highs again. I would like to see a pull back right about now.
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Bamas speech and the s and p downgrade are sending clear messages.
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Yeah but the moves upward have been pretty crazy and a correction right now would set the stage for better gains down the road.
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Whens the new currency coming? I smell it already.
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NEW YORK (CNNMoney) -- Gold prices broke a new record Monday, driven by concerns over mounting debt worries in the United States and Europe.
Gold futures for August delivery reached a fresh high of $1,602.50 per ounce in early trading Monday.
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Bernake - "Gold is not money"
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Bernake - "Gold is not money"
Lol
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$1612/oz as of this morning.
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Only now, after three years of roller coaster markets, epic debates, and gnashing of teeth, are mainstream financial pundits finally starting to get it. At least some of them, anyway. Precious metals have continued to perform relentlessly since 2008, crushing all naysayer predictions and defying all the musings of so called “experts”, while at the same time maintaining and protecting the investment savings of those people smart enough to jump on the train while prices were at historic lows (historic as in ‘the past 5000 years’).
Alternative analysts have pleaded with the public to take measures to secure their hard earned wealth by apportioning at least a small amount into physical gold and silver. Some economists, though, were silly enough to overlook this obvious strategy. Who can forget, for instance, Paul Krugman’s hilarious assertion back in 2009 that gold values reflect nothing of the overall market, and that rising gold prices were caused in large part by the devious plans of Glen Beck, and not legitimate demand resulting from oncoming economic collapse:
http://krugman.blogs.nytimes.com/2011/07/19/the-glenn-beck-debeers-connection/
To this day, with gold at $1600 an ounce, Krugman refuses to apologize for his nonsense. To be fair to Krugman, though, his lack of insight on precious metals markets is most likely deliberate, and not due to stupidity, being that he has long been a lapdog of central banks and a rabid supporter of the great Keynesian con. Some MSM economists are simply ignorant, while others are quite aware of the battle between fiat and gold, and have chosen to support the banking elites in their endeavors to dissuade the masses from ever seeking out an alternative to their fraudulent paper. The establishment controlled Washington Post made this clear with its vapid insinuation in 2010 that Ron Paul’s support of a new gold standard is purely motivated by his desire to increase the value of his personal gold holdings, and not because of his concern over the Federal Reserve’s destructive devaluing of the dollar!
http://www.washingtonpost.com/wp-dyn/content/article/2010/06/13/AR2010061304881.html?hpid=topnews
So, if a public figure owns gold and supports the adaptation of precious metals to stave off dollar implosion, he is just trying to “artificially drive up his own profits”. If he supports precious metals but doesn’t own any, then he is “afraid to put his money where his mouth is”. The argument is an erroneous trap, not to mention, completely illogical.
Numerous MSM pundits have continued to call a top for gold and silver markets only to be jolted over and over by further rapid spikes. Frankly, it’s getting a little embarrassing for them. All analysts are wrong sometimes, but these analysts are wrong ALL the time. And, Americans are starting to notice. Who beyond a thin readership of mindless yuppies actually takes Krugman seriously anymore? It’s getting harder and harder to find fans of his brand of snake oil.
Those who instead listened to the alternative media from 2007 on have now tripled the value of their investments, and are likely to double them yet again in the coming months as PM’s and other commodities continue to outperform paper securities and stocks. After enduring so much hardship, criticism, and grief over our positions on gold and silver, it’s about time for us to say “we told you so”. Not to gloat (ok, maybe a little), but to solidify the necessity of metals investment for every American today. Yes, we were right, the skeptics were wrong, and they continue to be wrong. Even now, with gold surpassing the $1600 an ounce mark, and silver edging back towards its $50 per ounce highs, there is still time for those who missed the boat to shield their nest eggs from expanding economic insanity. The fact is, precious metals values are nowhere near their peak. Here are some reasons why…
Debt Ceiling Debate A Final Warning Sign
If average Americans weren’t feeling the heat at the beginning of this year in terms of the economy, they certainly are now. Not long ago, the very idea of a U.S. debt default or credit downgrade was considered by many to be absurd. Today, every financial radio and television show in the country is obsessed with the possibility. Not surprisingly, unprepared subsections of the public (even conservatives) are crying out for a debt ceiling increase, while simultaneously turning up their noses at tax increases, hoping that we can kick the can just a little further down the road of fiscal Armageddon. The delusion that we can coast through this crisis unscathed is still pervasive.
Some common phrases I’ve heard lately: “I just don’t get it! They’re crazy for not compromising! Their political games are going to ruin the country! Why not just raise the ceiling?!”
What these people are lacking is a basic understanding of the bigger picture. Ultimately, this debate is not about raising or freezing the debt ceiling. This debate is not about saving our economy or our global credit standing. This debate is about choosing our method of poison, and nothing more. That is to say, the outcome of the current “political clash” is irrelevant. Our economy was set on the final leg of total destabilization back in 2008, and no amount of spending reform, higher taxes, or austerity measures, are going to change that eventuality.
We have two paths left as far as the mainstream economy is concerned; default leading to dollar devaluation, or, dollar devaluation leading to default. That’s it folks! Smoke em’ if you got em’! This train went careening off a cliff a long time ago.
If the U.S. defaults after August 2nd, a couple of things will happen. First, our Treasury Bonds will immediately come into question. We may, like Greece, drag out the situation and fool some international investors into thinking the risk will lead to a considerable payout when “everything goes back to normal”. However, those who continued to hold Greek bonds up until that country’s official announcement of default know that holding the debt of a country with disintegrating credit standing is for suckers. Private creditors in Greek debt stand to lose at minimum 21% of their original holdings because of default. What some of us call a “21% haircut”:
http://www.reuters.com/article/2011/07/22/us-greece-iif-idUSTRE76K6VX20110722
With the pervasiveness of U.S. bonds around the globe, a similar default deal could lead to trillions of dollars in losses for holders. This threat will result in the immediate push towards an international treasury dump.
Next, austerity measures WILL be instituted, while taxes WILL be raised considerably, and quickly. The federal government is not going to shut down. They will instead bleed the American people dry of all remaining savings in order to continue functioning, whether through higher charges on licensing and other government controlled paperwork, or through confiscation of pension funds, or by cutting entitlement programs like social security completely.
Finally, the dollar’s world reserve status is most assuredly going to be placed in jeopardy. If a country is unable to sustain its own liabilities, then its currency is going to lose favor. Period. The loss of reserve status carries with it a plethora of very disturbing consequences, foremost being devaluation leading to extreme inflation.
If the debt ceiling is raised yet again, we may prolong the above mentioned problems for a short time, but, there are no guarantees. Ratings agency S&P in a recent statement warned of a U.S. credit downgrade REGARDLESS of whether the ceiling was raised or not, if America’s overall economic situation did not soon improve. The Obama Administration has resorted to harassing (or pretending to harass) S&P over its accurate assessment of the situation, rather than working to solve the dilemma:
http://news.yahoo.com/obama-officials-clash-p-over-downgrade-threats-200358261.html
Ratings company Egan-Jones has already cut America’s credit rating from AAA to AA+:
http://www.bloomberg.com/news/2011-07-18/egan-jones-cuts-u-s-rating-to-aa-on-spending-cut-concern-1-.html
Many countries are moving to distance themselves from the U.S. dollar. China’s bilateral trade agreement with Russia last year completely cuts out the use of the Greenback, and China is also exploring a “barter deal” with Iran, completely removing the need for dollars in the purchase of Iranian oil (which also helps in bypassing U.S. sanctions):
http://uk.reuters.com/article/2011/07/24/china-iran-oil-idUSLDE76N0DJ20110724
So, even with increased spending room, we will still see effects similar to default, not to mention, even more fiat printing by the Fed, higher probability of another QE announcement, and higher inflation all around.
This period of debate over the debt ceiling is liable to be the last clear warning we will receive from government before the collapse moves towards endgame. All of the sordid conundrums listed above are triggers for skyrocketing gold and silver prices, and anyone not holding precious metals now should make changes over the course of the next month.
What has been the reaction of markets to the threat of default? Increased purchasing of precious metals! What has been the reaction of markets to greater spending and Fed inflation? Increased purchasing of precious metals! The advantages of gold and silver are clear…
European TARP?
The MSM blatantly glossed over the EU decision on the latest Greek bailout, as many pundits heralded the plan as decisive action on the part of Europe. But, what was the EU solution to the possibility of Greek default? In the end, their solution was to LET GREECE DEFAULT! Brilliant!
http://blogs.reuters.com/felix-salmon/2011/07/21/greece-defaults/
EU proponents of the plan for Greece are calling the solution a “selective default”, which I suppose, is meant to make it sound less default-ish. However, this is, indeed, a default, and many Greek bondholders are going to lose substantial sums of money as the Greek government decides who they are going to pay back, and who they are going to give the finger. Strangely, this plan also includes the creation of a kind of European Monetary Fund, or a European TARP. This means a broader strategy is being put into motion that involves continuing bailouts and fiat injections of Euros, not just into Greece, but into other countries as well, including Ireland, Portugal, Spain, and even Italy:
http://www.zerohedge.com/article/goldmans-complete-summary-european-council-decisions
Extended printing of Euros means devaluation, and devaluation means greater international interest in gold and silver. The EU Council plan is a blinding flashing neon sign telling us to BUY PRECIOUS METALS, while we still can.
Stock Market Facade Is Over And Inflation Is Here
The “great bull run” over the past two years has been somewhat successful in fooling a certain percentage of Americans into believing all the recovery talk was real. The fundamentals, though, show that this run is entirely fabricated. Besides a static real unemployment rate of around 20%, housing market hellfire, and crushing inflation in commodities, trading volume in stocks is also at a three year low:
http://finance.yahoo.com/news/Wheres-the-volume-Stock-apf-2486403790.html?x=0&sec=topStories&pos=4&asset=&ccode=
This means that the overall value of the Dow is being driven by a much smaller pool of investors. A smaller pool of active investors means a more volatile market, with a greater chance of wild swings or inflated values. This lack of stock participation also leads one to question the validity of the bull run as a whole. What, we might ask, has really been holding the markets up for so long, if so few people are feeding the machine?
We must keep in mind that since the credit crisis began the Fed has held interest rates at near zero. That’s almost 3 YEARS of near zero interest rates; far beyond the predictions of many mainstream analysts. The reason? Easy fiat from the Fed is the only thing keeping markets alive. Without it, they would crumble. We hear only of the fiat pumped into the system through bailouts and quantitative easing, but rarely do we hear about all the printing that goes on in-between these public events. The extent of Fed currency creation is made more apparent by the St. Louis Fed’s Adjusted Monetary Base:
According to the Fed publication ‘Monetary Base In An Era Of Financial Change’, the AMBSL is an index measuring the central bank balance sheet, including open market operations, statutory reserve requirements, and foreign exchange market interventions. The index, though, includes only what is reported by the fed, and without an audit, it is impossible to determine its accuracy. In all likelihood, it actually under-reports the amount of fiat being flooded into markets.
Can the Fed prop up the markets forever? No. The volume versus value conflict is too revealing, and I believe we have reached a point at which the weight of negative data is preventing any further significant climbs in the Dow even in the face of manipulation. A kind of critical apex is created; a point at which two forces once balanced meet and derail each other. Stocks, at this time, are very vulnerable, especially when they are supported by a central bank induced fiat framework
When investors realize that the bull run is fake, not to mention over for a very long time, that dollar devaluation is a certainty, and that bonds are a deathtrap, where will they turn to protect their savings? That’s right…gold and silver. The price potential for metals going into the final half of 2011 is extremely high. Lows can strike abruptly, and they do often under such volatile circumstances, but unlike MSM talking heads, we look well beyond week to week progressions. The long term trend is really what matters, and the long term trend for gold and silver has been impressively positive.
To those who chose not to take my advice over the past three years, or the advice of countless other alternative analysts and economists, I can only say we stand by our record. Our purpose is to help you secure the safety of your buying power as much as possible in these dangerous days. That is all. It is not too late to establish a foundation in precious metals, and it is not too late to accept the reality of our country’s quandary. Warnings, though, are just a small window in time, and they are only useful, so far as they are heeded.
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Krugman and the other pieces of fecal matter and trash who support Kenynsian crappola are destroying this nation.
I am sick of these locusts. Whether its the NWO flaks, the liberal communist pieces of trash, the big govt repubs, etc, the failure to understand basic monetary policy is collapsing the nation.
Krugman, like Arafat, Obama and Al Gore - have proven that a Nobel Prize is pure bullshit.
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Gold hits $1641 oz
Silver $40.26 oz
Guys, load up on silver before its too late. We will see this metal take off more and more over the rest of the year and into next.
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Gold hits $1641 oz
Silver $40.26 oz
Guys, load up on silver before its too late. We will see this metal take off more and more over the rest of the year and into next.
I already missed out when it went back to the mid-30's. The central banks and all their might can't suppress it or gold for that matter.
Scary times indeed.
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I already missed out when it went back to the mid-30's. The central banks and all their might can't suppress it or gold for that matter.
Scary times indeed.
Not too late bud. Grab whatever you can now.
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This all applies to silver, which also has more uses in technology for those growing markets outside the States. There is/will be a shortage in silver that will get the price rocketing soon.
From our friends at zerohedge:
The Imminent $2.5 Trillion Debt Ceiling Hike Will Unleash A Gold Price Surge To $1,950 And Higher
Two weeks ago we presented a chart that shows the uncanny correlation between the debt ceiling and the price of gold. Now that we know the final amount of the next debt ceiling hike, somewhere in the $2.5 trillion ballpark, it allows us to extrapolate where gold will end up as a result of the debt ceiling hike which will likely be voted into law at 7pm PDT. A simple correlation rule of thumb allows us to predict that gold will be at $1,950 by the end of the year if it simply retains it close correlation to the debt ceiling. Should Bernanke announce that he will additionally need to monetize some or all of this incremental debt amount, we anticipate that gold will be well over $2,000 by the end of the year, courtesy of yet another round of accelerated dollar debasement, which also means that real gains in US stocks will be negated courtesy of the devaluation of the currency in which they are priced. The same, however, does not apply for gold, which with every passing day is priced in nothing but itself.
(http://www.zerohedge.com/sites/default/files/images/user5/imageroot/draghi/Gold%20Debt%20Ceiling%20.jpg)
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Ponzinomics at its finest.
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$1659/oz
Damn.
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Gold to hit $2,000 before year end
Last week’s events on Capitol Hill in the US were very damaging. After we abandoned the gold standard, the dollar is now the globe's reserve currency - and US politicians decided to play a game of chicken with the debt ceiling. Their behaviour verged on the shameful.
The fact that an 11th hour deal was done and the ceiling was raised is a relief, but the process shattered trust and confidence in US politicians.
There is also an uncanny correlation between the gold price and the US debt ceiling. Over the past 30 years, the gold price has tracked the ceiling whenever it has been raised.
The US economy is also flat lining, with slower growth now expected - confidence in the country evaporated overnight and a frantic hour of trading on Wall Street sent the Dow Jones Industrial Average on its worst run since the financial crisis, falling for the eighth successive day.
This gloom has also raised the prospect of more money printing by the Federal Reserve. QE3 is not a certainty, but it is now more likely than it was even last week. This will further debased the value of the dollar and will cause even more investors to flee to the safe-haven currency of gold.
Then there’s the imploding eurozone. The debt debate was a distraction from the structural problems faced in the region, China is potentially overheating, in common with most emerging markets that are battling crippling inflation.
Gold is a hedge against the debasement of currencies and rampant inflation – and all of these problems are now getting worse. The case for gold has never been stronger.
Gold at $2,000 by the end of the year is not a certainty – but everything is now in place to make it happen.
http://www.telegraph.co.uk/finance/personalfinance/investing/gold/8678682/Gold-to-hit-2000-before-year-end.html
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Today
Gold $1681/oz
Silver $42.14
GRAB IT NOW!!!!!!!!!
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Today
Gold $1681/oz
Silver $42.14
GRAB IT NOW!!!!!!!!!
True - got my AK, glocks, mossberg very handy.
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Holy shit metals take off!
1,687.00 +35.20 +2.13%
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Holy shit, metals take off!
1,687.00 +35.20 +2.13%
A true sign of confidence in our currency and govt. ::) ::)
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A true sign of confidence in our currency and govt. ::) ::)
"We can just print the money."
Thank you, Greenspan.
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New record of $1692.
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"We can just print the money."
Thank you, Greenspan.
That's scary.
Purposeful currency devaluation, debt monetization and money printing is the last dying gasp of a currency and a nations economy. Scary that it's even being suggested.
Deep down inside what Greenspan is saying here is a trial balloon.
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The fact that its blantly discussed in public says alot.
Surprised that no one asked the obvious follow up questions.
Actually, I'm not surprised.
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The fact that its blantly discussed in public says alot.
Surprised that no one asked the obvious follow up questions.
Actually, I'm not surprised.
Did you see who was on the panel?
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Look at Austan Goolsbees face at 20 sec mark. He looks like he just swallowed his tongue. I bet he's thinking, "Damn Greenspan, wtf are you doing?! You never say this shit in public!" lol
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Goolsbee is a fucking c\/nt that's played a major role in destroying this economy. Good thing he had his cushy tenure position at the University of Chicago to fall back on when he just abandoned ship.
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Warren Buffett: United States deserves "quadruple A" credit rating
Investing guru Warren Buffett criticized the Standard & Poor's downgrade of the long-term US credit rating, saying it "doesn't make sense" and would have a limited impact on markets.
"I don't get it," the highly-respected founder and chairman of Berkshire Hathaway told Fox Business News late Friday, saying his Omaha, Nebraska-based company would hold onto its considerable trove of US Treasury bills.
"In Omaha, the US is still triple-A. In fact, if there were a quadruple-A rating, I'd give the US that," he said, hours after the S&P cut the US credit rating from a sterling AAA to an AA+.
Buffett said his firm holds well over $40 billion in short end T-bills and that the decision "doesn't tempt me to sell. We'll stay right there."
...
"The US, to my knowledge, owes no money in currency other than the US dollar, which it can print at will. Now if you're talking about inflationthat's a different question,, " he added.
http://www.rawstory.com/rs/2011/08/0...nt-make-sense/
lol, whoa
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Obama won't let them monetize the debt like that. That would guarantee his not being reelected. All the more reason this guy needs to be removed next year, though.
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Obama won't let them monetize the debt like that. That would guarantee his not being reelected. All the more reason this guy needs to be removed next year, though.
The energy price inflation is hitting hard. Gold is one thing, but we are forced to buy energy and food which is way higher.
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The energy price inflation is hitting hard. Gold is one thing, but we are forced to buy energy and food which is way higher.
There's inflation? Haven't heard anything in the MSM about the still ridiculously high gas prices .
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There's inflation? Haven't heard anything in the MSM about the still ridiculously high gas prices .
Drove by the station hour ago. 4.15 for 87. Ouch!
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$1703.00
At this rate it'll hit $2000 by the end of the month, never mind end of the year. lol
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One Ounce Of Religious Non-Money Tradition = $1700
And while the world's reserve currency, better known to various Chairsatans as "money" continues dropping to record lows courtesy of his dollarcidal tendencies, the "tradition" also known as a "barbarous relic" just passed $1,700. We will be sure to point out when it passes $1,800, $1,900 and $2,000 next.
http://www.zerohedge.com/news/one-ounce-non-money-tradition-1700
(http://www.zerohedge.com/sites/default/files/images/user5/imageroot/Spot%20Gold%201700.jpg)
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$1714.00!!!
Fuck me. Im selling some tomorrow and going on vacation baby!
lol
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$1714.00!!!
Fuck me. Im selling some tomorrow and going on vacation baby!
lol
I'd hold on for the ride cause it's going to be a long one up. You're going to kick yourself 2 months from now if you sell.
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bumping cause I have to watch that video ^^
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bumping because I wanna see if anyone wants to go prospecting with me :D
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Gold hits new record near $1,830 an ounce
http://money.cnn.com/data/commodities/
Aug 18 12:05pm:Gold prices are again marching in record territory, nearing $1,830 an ounce, as the global economic picture gets uglier by the minute.
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I was waiting to see it fall back under $1725 and I was going to buy 1 or 2 ounces. Bad move. I'll just wait for QE3 and Obamananke printing to infinity.
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I was waiting to see it fall back under $1725 and I was going to buy 1 or 2 ounces. Bad move. I'll just wait for QE3 and Obamananke printing to infinity.
Don't know if you did yet but watch the video Emmortal posted, some good shit in there that might make you want to reconsider. I got rid of a few oz's so the girlfriend and I could go on vacation. I'll be grabbing some more silver soon. I havent bought gold for awhile but loaded up when it was around $700/oz. so Im cool for a while. 8)
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It's still undervalued in my opinion (and a lot of other people's) but with the premium on the spot right now it's going for somewhere in the $1925 range. I'm willing to wait to see what the scumbags at the Fed come up with at their Jackson Hole retreat in a few weeks.
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It's still undervalued in my opinion (and a lot of other people's) but with the premium on the spot right now it's going for somewhere in the $1925 range. I'm willing to wait to see what the scumbags at the Fed come up with at their Jackson Hole retreat in a few weeks.
If you can afford it, it's still a good buy. There have been some interesting developments over the past few days. Small news and big news which will get reported backwards (if at all) by MSM.
The small news that will probably make big news is that Chaves nationalized Nicaragua's gold industry. This will most likely get spun to play up the nasty commie lack of free market angles by the MSM.
What I doubt will get any play is that Nicaragua has 99 tonnes of gold stored outside the country. They are asking for it back (from the BoE initially). Now the thing with the gold market is, all this gold on deposit isnt really on deposit, it's all been leased, swapped, traded and leveraged (GATA argue, with a load of evidence, it's been naked shorted into the market to keep the price down). But where it might all start to get real interesting is:
What could well be a gamechanger is that according to an update from Bloomberg, Venezuela has gold with, you guessed it, JP Morgan, Barclays, and Bank Of Nova Scotia. As most know, JPM is one of the 5 vault banks. The fun begins if Chavez demands physical delivery of more than 10.6 tons of physical because as today's CME update of metal depository statistics, JPM only has 338,303 ounces of registered gold in storage. Or roughly 10.6 tons. A modest deposit of this size would cause some serious white hair at JPM as the bank scrambles to find the replacement gold, which has already been pledged about 100 times across the various paper markets.
Nothing in this is sure.. Theres a lot of guesswork.. But what seems is clear various governments and holders are showing very little faith in promises of stock or storage, and if these are leased / loaned / sold the covering of even small parts could be very very difficult in a tight physical market.
A much more interesting option is silver due to its price and it's poised to make a huge jump again. Silver has actually outperformed gold over the past year, going up around 900% compared to gold's 340% or so gains. There's heavy manipulation of silver which has kept it below $50oz but I can see it going up to around $200-300oz in the next 12 months once that manipulation is removed.
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Who is the original source of this info. Thanks.
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I believe it's from ZeroHedge. I remember the article from yesterday.
Let's be honest, though. They'll tell Chavez to pound sand before they give him 10 tons of gold.
Edit:
http://www.zerohedge.com/news/chavez-pulls-venezuelas-gold-jp-morgan-great-scramble-physical-starting
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I believe it's from ZeroHedge. I remember the article from yesterday.
Let's be honest, though. They'll tell Chavez to pound sand before they give him 10 tons of gold.
Edit:
http://www.zerohedge.com/news/chavez-pulls-venezuelas-gold-jp-morgan-great-scramble-physical-starting
Also: http://abcnews.go.com/Business/wireStory?id=14328711
Of course they will, because they have to, they don't have it. Adrian Dogulas did some research into just how far the bullion banks have issued paper reps for every physical ounce in the vault, it came out to at least 45. It didn't take into consideration the paper manipulation from Comex, LBMA and ETFs. The ZH article said close to 100 times which Jeffery Christian testified before the CFTC confirming that it is probably at least that.
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Also: http://abcnews.go.com/Business/wireStory?id=14328711
Of course they will, because they have to, they don't have it. Adrian Dogulas did some research into just how far the bullion banks have issued paper reps for every physical ounce in the vault, it came out to at least 45. It didn't take into consideration the paper manipulation from Comex, LBMA and ETFs. The ZH article said close to 100 times which Jeffery Christian testified before the CFTC confirming that it is probably at least that.
lol
oh boy.
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Just hit $1843.00.
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$1858!
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$1858!
3000 coming soon?
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True Anus, were still waiting for those instructions fir making our own gold, I would love to spin out a few more 100 oz.
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We might have hit the gold cost numbers that are driving more people into silver now. silver almost hit 43 dollars an oz today. Might be very bullish doe the next little while, we'll see soon enough.
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http://finance.yahoo.com/news/Gold-Advances-to-Record-as-bloomberg-1448057432.html?x=0&sec=topStories&pos=2&asset=&ccode=
Gold climbed to a record above $1,890 an ounce in London and New York as concern about slowing economic growth and debt crises spurred demand for bullion as a protection of wealth. Platinum gained to a three-year high.
German Chancellor Angela Merkel attempted to shut the door on common euro-area bonds as a means to solve the debt crisis, saying she won’t let financial markets dictate policy. The Federal Reserve holds its annual symposium in Jackson Hole, Wyoming, this week, amid speculation it may signal a third round of asset purchases to boost the faltering recovery.
“Gold is still the safe haven, and as long as people fear recession in the U.S. and euro-zone debt problems, gold remains in demand,” Peter Fertig, owner of Quantitative Commodity Research Ltd. in Hainburg, Germany, said by phone. More U.S. asset purchases “would be bullish for gold. Increasing liquidity will lead to higher future inflation, which is a reason to buy gold.”
Immediate-delivery gold gained as much as $42.70, or 2.3 percent, to $1,894.80 an ounce and traded at $1,881.65 by 10:14 a.m. in London. Gold for December delivery was up 1.8 percent at $1,885.90 an ounce on the Comex in New York after touching a record $1,898.60.
Gold is in the 11th year of a bull market, the longest winning streak since at least 1920 in London, as investors seek to diversify their holdings away from equities and some currencies. Global stocks earlier this month slipped to an 11- month low, and bullion reached all-time highs in euros, British pounds and Swiss francs today.
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Time to invest in Tungsten ;)
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Nation/Economy/Currency going down
Gold/Oil/Silver going up!
obama responsible for 100% of this shit.. hahahahahahaha
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obama responsible for 100% of this shit.. hahahahahahaha
Alot of it.
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Alot of it.
im sure
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im sure
Yeah, obama has been great to the nation and things. ::)
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Alot of it.
It wasn't pretty for either of them. $200 to $1000 under Bush (Increase of 500%).... $1000 to $1800 under Obama... not as much of a %, but less time -
During Bush’s presidency, the price of gold had an average annual gain of 15.45%. During Obama’s 2.11 years (771 days ÷ 365.25) in office, the price of gold has had an average annual gain of 28.78%.
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It wasn't pretty for either of them. $200 to $1000 under Bush (Increase of 500%).... $1000 to $1800 under Obama... not as much of a %, but less time -
During Bush’s presidency, the price of gold had an average annual gain of 15.45%. During Obama’s 2.11 years (771 days ÷ 365.25) in office, the price of gold has had an average annual gain of 28.78%.
8 years vs 2 1/2 you fucking dope.
Obama has taken the very worst of Bush and tripled down on it.
He has debased the currency
He has created massive instability in the ME
He has created massive regulatory and tax uncertainty
He has attacked business and gravely harmed the economy with ObamaCare
He has made us more reliant upon foreign fuels and is causing energy inflation at home
He has spent money like a $2 dollar crackhead from Harlem who won $100 on a scratch off
He has set into motion crippling debt, deficits, and unsustainable obligations as far as the eye can see
He has taken no effort whatsoever to cut spending and strengthen our finances.
He has enacted laws and regulations that have frozen the credit markets for business
AND YOU WONDER WHY THINGS ARE GETTING WORSE AND PEOPLE ARE FLEEING TO GOLD? ? ? ?
LMFAO -
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dude, i actually made your point for you. I pointed out it took less time, then went to the trouble to show you the annual price of gold has gone up 28.78% under Obama - and ONLY 15.45% under bush.
Essentially, i made your point for you. Yet, instead of reading my showing the price is increasing at a rate twice as fast under obama, you instantly shit on me and turned into a hater out of habit.
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dude, i actually made your point for you. I pointed out it took less time, then went to the trouble to show you the annual price of gold has gone up 28.78% under Obama - and ONLY 15.45% under bush.
Essentially, i made your point for you. Yet, instead of reading my showing the price is increasing at a rate twice as fast under obama, you instantly shit on me and turned into a hater out of habit.
Maybe because almoast 99% of your other posts are obama suck ups I got a little confused.
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Maybe because almoast 99% of your other posts are obama suck ups I got a little confused.
maybe. or maybe you're just in attack dog mode too much :)
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maybe. or maybe you're just in attack dog mode too much :)
Could be. But I prefer attack dog to lap dog any day. ;) ;) ;)
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Maybe because almoast 99% of your other posts are obama suck ups I got a little confused.
or maybe your homo ass needs to take a step back with your dumb ass and read.. let it soak in. And then react
Your punk ass off the cuff knee jerk reactions make you look like a talking head uninformed jack ass.
with your stupid ass
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or maybe your homo ass needs to take a step back with your dumb ass and read.. let it soak in. And then react
Your punk ass off the cuff knee jerk reactions make you look like a talking head uninformed jack ass.
with your stupid ass
Mal - why do you think people invest in Gold?
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Mal - why do you think people invest in Gold?
No faith in da cash money.... And its 100% obamas fault..
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Gee thanks for being so proactive in my thread guys.
It topped 1900 today, by the way.
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Gee thanks for being so proactive in my thread guys.
It topped 1900 today, by the way.
Its not really a good thing to be honest, no offense of course, that gold is doing this.
We have the politicians to blame for this of course and this just means that money that otherwise would be invested in productive parts of the economy and towards income producing endeavors are now being stored in gold bars.
Not good for future potential expansion, growth, or employment for sure.