The Gold and Silver Thread

[Trajan]

The US raised taxes & cut spending. This lowered the annual deficit. = Bad for Gold.

China imposed taxes on second homes popping the worlds biggest housing bubble. = Bad for Gold.

Cypress & other European Banks selling gold to remain solvent. = Bad for Gold.

The large move in Gold has triggered a margin increase / lower gold leverage. = Bad for Gold.

Paulson is shitting bricks....hes got to hang in there.....hes stuck.

 

[Oddball]

Market correction....Buy!

Did you?

Junk silver, yes....I'll continue.

 

[KissMy]

Swiss may soon be backing their currency with Gold!

Swiss National Bank, has revealed that 70 per cent of the country’s gold was stored in Switzerland, 20 per cent with the Bank of England and 10 per cent with the Bank of Canada.

A week ago, the Swiss Cabinet announced the nationalist Swiss People’s Party had gathered enough signatures to force a referendum that would ban the central bank from selling off any gold reserves or storing them abroad.

The party’s initiative, known as “Save Our Swiss Gold,” would go to a vote among Swiss citizens within the next few years.

It would require Switzerland’s central bank to keep at least 20 per cent of its assets in gold, and all of those on Swiss soil.

 

[Toro]

The SNB sold their gold back in the 1990s.

Sell at the bottom, but at the top. Typical central banks.

 

[william the wie]

The SNB sold their gold back in the 1990s.

Sell at the bottom, but at the top. Typical central banks.

Hey Toro, could you check my math? Looking at inflation numbers I'm getting a gold price of just under 15 (1913 dollars) when it sold at $20.50/oz. at that time.

 

[Toro]

Gold broke $1300 and is down nearly 6% overnight.

 

[Toddsterpatriot]

Gold broke $1300 and is down nearly 6% overnight.

Holy crap. It's a good thing silver and gold are the only real money. LOL!

 

[Toro]

Silver went through $20.

I wish I had the cajones to have stuck with my short!

 

[OohPooPahDoo]

MY July 130 GLD PUT that I paid $6.25 per contract the last time gold crashed is now worth $6.25 per contract again. That was a hell of a ride, as it was down to <$2.00 a one point.

Now I will ride this gold crash down with you bitches picking your pockets along the way. I got ONE MONTH left!

 

[Toro]

Gold is down another $50 and silver $1 this morning.

OPPD is getting rich!

 

[OohPooPahDoo]

Gold is down another $50 and silver $1 this morning.

OPPD is getting rich!

Ya ya ya ya!!!!

 

[Toro]

Gold is trading at $1199.

 

[KissMy]

Gold is climbing because people are finally waking up to the fact the Fed can't taper. Detroit filed bankruptcy even as the Fed was printing $85 billion to buy government debts. If the Fed tapers we will see 100 cities bankrupt like Detroit. If that ever happens, run for the hills. Deflationary depression gold & stock market crash will surely follow.

 

[Toddsterpatriot]

People are finally waking up to the fact the Fed can't taper. Detroit filed bankruptcy even as the Fed was printing $85 billion to buy government debts. If the Fed tapers we will see 100 cities bankrupt like Detroit. If that ever happens, run for the hills. Deflationary depression market crash will surely follow.

If the Fed tapers we will see 100 cities bankrupt like Detroit.

How does the Fed taper make Chicago's bankruptcy more likely?

If the Fed doesn't taper, does that somehow fill the holes in Chicago's pension systems?

 

[TakeAStepBack]

Gold has been rising since 71 with few lulls. This is one of those lulls and can be explained by easy M2, sell offs of large entities (created the closest thing to a natural correction we get) and a manipulation with ETFs.

It's rising again, and will rise even further when the federal reserve begins to "taper" off of its easing policies (I dont believe they will or can and know it). That is, if they ever actually do it. With the long end of the curve yielding negative, they know what will happen if they do. I think Ben is just waiting to leave before it happens so his "legacy" isn't tainted by those who believe the fed is doing a good job.

 

[KissMy]

People are finally waking up to the fact the Fed can't taper. Detroit filed bankruptcy even as the Fed was printing $85 billion to buy government debts. If the Fed tapers we will see 100 cities bankrupt like Detroit. If that ever happens, run for the hills. Deflationary depression market crash will surely follow.

If the Fed tapers we will see 100 cities bankrupt like Detroit.

How does the Fed taper make Chicago's bankruptcy more likely?

If the Fed doesn't taper, does that somehow fill the holes in Chicago's pension systems?

A third of the federal stimulus went to plug holes in city & state debts. The fed buys these bad debts & holds them at zero interest. This is back door monetization (sterilizing debt) that has been filling Chicago's debt holes. When it stops, bankruptcies begin.

 

[Toro]

Gold has been rising since 71 with few lulls. This is one of those lulls and can be explained by easy M2, sell offs of large entities (created the closest thing to a natural correction we get) and a manipulation with ETFs.

It's rising again, and will rise even further when the federal reserve begins to "taper" off of its easing policies (I dont believe they will or can and know it). That is, if they ever actually do it. With the long end of the curve yielding negative, they know what will happen if they do. I think Ben is just waiting to leave before it happens so his "legacy" isn't tainted by those who believe the fed is doing a good job.

Gold fell 70% over 20 years. I'd say that's more than a "lull."

 

[AmazonTania]

Plenty of blame of the sell off in the stock market is attributed to the notion that the Fed is going to taper. There might be some people out there who believes that the fed is going to taper. I'm not one of them. The Fed knows if it tapers it'll throw the economy right back into recession (officially, anyway) which will cause them to un-taper. Tapering today just plants the seeds for more QE tomorrow, which is why I believe the Gold market is rallying.

 

[Toddsterpatriot]

People are finally waking up to the fact the Fed can't taper. Detroit filed bankruptcy even as the Fed was printing $85 billion to buy government debts. If the Fed tapers we will see 100 cities bankrupt like Detroit. If that ever happens, run for the hills. Deflationary depression market crash will surely follow.

If the Fed tapers we will see 100 cities bankrupt like Detroit.

How does the Fed taper make Chicago's bankruptcy more likely?

If the Fed doesn't taper, does that somehow fill the holes in Chicago's pension systems?

A third of the federal stimulus went to plug holes in city & state debts. The fed buys these bad debts & holds them at zero interest. This is back door monetization (sterilizing debt) that has been filling Chicago's debt holes. When it stops, bankruptcies begin.

A third of the federal stimulus went to plug holes in city & state debts.

Yes. I remember the wasted Obama spending from 2009.
We're talking about a 2013 taper. Stay focused.

The fed buys these bad debts & holds them at zero interest.

The Fed doesn't buy Detroit or Chicago paper.

This is back door monetization

The Fed buys US Treasury and Fannie and Freddie securities, not munis.

that has been filling Chicago's debt holes.

Obama gave Chicago money recently? Link?

 

[KissMy]

If the Fed tapers we will see 100 cities bankrupt like Detroit.

How does the Fed taper make Chicago's bankruptcy more likely?

If the Fed doesn't taper, does that somehow fill the holes in Chicago's pension systems?

A third of the federal stimulus went to plug holes in city & state debts. The fed buys these bad debts & holds them at zero interest. This is back door monetization (sterilizing debt) that has been filling Chicago's debt holes. When it stops, bankruptcies begin.

A third of the federal stimulus went to plug holes in city & state debts.

Yes. I remember the wasted Obama spending from 2009.
We're talking about a 2013 taper. Stay focused.

The fed buys these bad debts & holds them at zero interest.

The Fed doesn't buy Detroit or Chicago paper.

This is back door monetization

The Fed buys US Treasury and Fannie and Freddie securities, not munis.

that has been filling Chicago's debt holes.

Obama gave Chicago money recently? Link?

The Fed bought federal stimulus debt. Stimulus money filled holed in city & state budget debt. The current $85 billion monthly Fed QE3 is buying government bonds holding interest rates on munis way low. This dramatically cut debt payments for city & states, and Detroit failed & had to file bankruptcy. The federal government is also handing lots of healthcare money to the states. Through Federal roads, bridges, military, homeland security, TSA, etc. they are funneling money over to cities & states any way they can.