Gold to Euro-statists: YOU LOSE

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machinehead's picture
machinehead
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Gold to Euro-statists: YOU LOSE

It's the dreaded 'day after.' With the smoke clearing from the EU's trillion-dollar 'vaporware' rescue, gold is not impressed. This morning, it;'s back at or beyond record highs at €962 and $1,218 per ounce.

Gold to statists: YOU LOSE!

machinehead's picture
machinehead
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Posts: 1077
Re: Gold to Euro-statists: YOU LOSE

Scheisse! I knew I shouldn't have listened to those Frenchies with their funny cigarettes!

Davos's picture
Davos
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Joined: Sep 17 2008
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Re: Gold to Euro-statists: YOU LOSE

LOL! Sinclair said it well: With respect to the extend and pretend the extends got more costly and the pretends don't last as long as they used to.

 

leweke1's picture
leweke1
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Joined: Dec 18 2008
Posts: 101
Re: Gold to Euro-statists: YOU LOSE

Yup!!!  Opened up the charts and USD and gold are both back to their mountain climbing this morning...that told me everything.  This session of  "pretend" didn't last very long...and the Merkel caption is hilarious!

machinehead's picture
machinehead
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Re: Gold to Euro-statists: YOU LOSE

According to Reuters, gold's 1 Dec 2009 record high was $1,226.10 -- based on Comex futures, I imagine.

Currently at $1221.40 on Comex futures; at record highs in some other currencies.

JAG's picture
JAG
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Re: Gold to Euro-statists: YOU LOSE

Hey Merkel is a smart cookie, seriously. Don't you think Germany's export economy is getting more globally competitive with all this Euro drama? 

And I thought the Euro was the "gold-standard" of fiat currencies. I guess gold doesn't think so.

guardia's picture
guardia
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Re: Gold to Euro-statists: YOU LOSE
JAG wrote:

Hey Merkel is a smart cookie, seriously. Don't you think Germany's export economy is getting more globally competitive with all this Euro drama? 

And I thought the Euro was the "gold-standard" of fiat currencies. I guess gold doesn't think so.

Well, can't expect miracles when the leaders are trying as hard as they can to destroy it... :( They either have to kiss their political careers goodbye, or they have to... wait, they have no choice do they? I wonder when they'll start to realize that...

Samuel

machinehead's picture
machinehead
Status: Diamond Member (Offline)
Joined: Mar 18 2008
Posts: 1077
Re: Gold to Euro-statists: YOU LOSE

Andrea Merkel and Nicky Sarkozy have to keep pedaling:

 

p.s. Dudes -- I think you had a blowout!

gregroberts's picture
gregroberts
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Max Keiser Reveals 1000 Point Plunge was Digital Financial Terro

If you hate Alex Jones this is not for you, but what MK has to say is interesting

leweke1's picture
leweke1
Status: Silver Member (Offline)
Joined: Dec 18 2008
Posts: 101
Re: Gold to Euro-statists: YOU LOSE

Silver has experienced a nice "rocket burn" ascent this morning...interesting times indeed.  Greatest Show on Earth for those interested.

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rickets
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Joined: Jun 8 2009
Posts: 238
Re: Gold to Euro-statists: YOU LOSE

Re the Max Keise video - There is so much over simplification and inaccurate information in this video, it really should be ignored.  The costs are not zero - there is something called price and when it moves against you the cost is not zero.  Further, Max has no concept that hedge funds and day traders dont short stocks when they are down 300+ for the day (for the most part)....as the math overwhelmingly says thats a bad call.  Most get out of the way or if anything mean revert the move or ride the shorts they already have and then cover in extremes.  Further, IF they short they usually do so in more conservative or fully hedged ways.  To do otherwise puts you out of business in a big hurry.

Max makes no reference to the fact that currencies had a 5 std dev move 45 minutes before the equity markets crashed.  These moves triggered massive forced moves of capital.  Max has no idea how the flow of international money works - and how that flow is forced in situations like these. 

Further, Max seems to forget that it would take 1000's of people to be in on this kind of conspiracy.  It would take many of the top trading firms all acting together - and all the employees running the trading desks to be alerted to not buy all at the same time, and then buy at the same time and lift all offers.  Further, not one of these 1000's of employees could talk or admit to what happened.

Alex Jones and Max Keiser do the same thing MSM does - fanatical inaccurate news to get ratings.  Better off to ignore them when you are trying to get accurate market information.

Dogs_In_A_Pile's picture
Dogs_In_A_Pile
Status: Martenson Brigade Member (Offline)
Joined: Jan 4 2009
Posts: 2606
Re: Gold to Euro-statists: YOU LOSE
rickets wrote:

Re the Max Keise video - There is so much over simplification and inaccurate information in this video, it really should be ignored.  The costs are not zero - there is something called price and when it moves against you the cost is not zero.  Further, Max has no concept that hedge funds and day traders dont short stocks when they are down 300+ for the day (for the most part)....as the math overwhelmingly says thats a bad call.  Most get out of the way or if anything mean revert the move or ride the shorts they already have and then cover in extremes.  Further, IF they short they usually do so in more conservative or fully hedged ways.  To do otherwise puts you out of business in a big hurry.

Max makes no reference to the fact that currencies had a 5 std dev move 45 minutes before the equity markets crashed.  These moves triggered massive forced moves of capital.  Max has no idea how the flow of international money works - and how that flow is forced in situations like these. 

Further, Max seems to forget that it would take 1000's of people to be in on this kind of conspiracy.  It would take many of the top trading firms all acting together - and all the employees running the trading desks to be alerted to not buy all at the same time, and then buy at the same time and lift all offers.  Further, not one of these 1000's of employees could talk or admit to what happened.

Alex Jones and Max Keiser do the same thing MSM does - fanatical inaccurate news to get ratings.  Better off to ignore them when you are trying to get accurate market information.

Well there you go rickets - bringing up those pesky little facts.

But then again, Jones and his ilk rarely use facts to generate their ratings.

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