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Author Topic: Gold collapsing. Bitcoin UP.  (Read 2011671 times)
devphp
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October 31, 2014, 11:06:19 AM
 #15081

Smells like the infamous "blood-in-the-street" time begins.
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DeadCoin
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October 31, 2014, 11:10:54 AM
 #15082

Gold is in a bear market, what did you guys expect? 1180 was bound to be broken sooner or later. It's going sub $1000 soon, $600-$800 is very likely within next 2 years.



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cypherdoc
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October 31, 2014, 11:12:05 AM
 #15083

Smells like the infamous "blood-in-the-street" time begins.

It's much worse than that for Gold as money.

The GDX & GDXJ are signaling much more down side.

If only Bitcoin could shed its techno communists.
cbeast
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Let's talk governance, lipstick, and pigs.


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October 31, 2014, 11:13:49 AM
 #15084

If there's blood, then the sharks will be coming. Wall Street pressure to approve the ETF, perhaps?

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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October 31, 2014, 11:17:16 AM
 #15085

... techno communists.

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October 31, 2014, 11:20:57 AM
 #15086


Yeah the term is really funny Tongue

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October 31, 2014, 11:23:16 AM
 #15087


I can't take credit for it. Got it from JR. Although quite appropriate.

And for once, i like the picture Lamb chop!
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October 31, 2014, 01:54:54 PM
 #15088

Back to the gold topic.

There is a referendum in Switzerland, in November, which is likely to secure a yes vote that the SNB holds 20% of its assets in gold (currently at 7.6%). As soon as this passes the bank will have five years to reach the 20% target. There is no legal escape for it. Considering that the SNB balance sheet has recently blown out Fed/BoE/BoJ-style - it will have to buy up to 1,700 tons of gold in the open market - and take delivery!

http://www.zerohedge.com/news/2014-10-28/things-make-you-go-hmmm-swiss-gold-status-quo-showdown

I really think this will put a floor under the current gold price, and maybe even spark another medium-term rally.


Will be interesting to watch the weasels at the SNB try to wriggle out of it ... after the shit they pulled with the EUR peg anything is possible.

Shit is being pulled again! Seems like this...

 ...On the top floor of PayPal HQ the legendary Black Phone is ringing...
 Nervously the execs crowd around until one of them summons enough courage to pick up the receiver.
 There are no pleasantries, a voice just hisses: "Remember Wikileaks? Now its the Swiss Gold Initiative"
 Drrrrrrrrr. The caller has hung up, the unseen world bankster network hath spoken.

https://goldswitzerland.com/swiss-gold-initiative-2014/

Quote
On Wednesday, October 29, we have received notification from PayPal that they can no longer receive donations on behalf of Matterhorn Asset Management AG. The reason is that we are not a formally registered charity in Switzerland and that we must seek a different approach to raising funds for this extremely important Initiative campaign. During the past two weeks we have received donations from various parts of the world and many from the United States of America. We and the Initiative Committee, chaired by Luzi Stamm of the Swiss National Parliament, are extremely greatful for the contributions that we have received to date and this setback will not stop our effort and our commitment to go through with the Social media promotional campaign that will in fact start on November 1 in Switzerland.

Anyone else get the feeling they might not keep the powder keg from blowing this time around?
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October 31, 2014, 03:21:42 PM
 #15089

flat out, no holds barred, sell signal.  gold breaks the intermed term, multi month descending triangle to the downside on high volume.

imo, once again, this will be good for Bitcoin.  just be patient!:

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Revolution will be decentralized


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October 31, 2014, 03:25:58 PM
 #15090

Quote from: cypherdoc link=topic=68655.msg9394643#msg9394643
imo, once again, this will be good for Bitcoin.  just be patient!:

I hope so, but to me they seem more positively correlated than not.
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October 31, 2014, 03:26:15 PM
 #15091

oh Lordy:





and i weep.  but i can't complain having made plenty on the last ramp of these 2:



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October 31, 2014, 03:29:31 PM
 #15092

Quote from: cypherdoc link=topic=68655.msg9394643#msg9394643
imo, once again, this will be good for Bitcoin.  just be patient!:

I hope so, but to me they seem more positively correlated than not.

i won't deny that, lately.

but the long term divergence is still present and we're still all the way up at 339 which is pretty good depending on your entry point.  think of it this way; some how the world economy continues to progress and develop despite all the shenanigans going on with the world elite and financial system.  i think they will have to resort to greater efficiencies enable by Bitcoin to keep the whole game rolling forward and avoid Armageddon.  gold and silver plunging tells me that this will happen; eventually.
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October 31, 2014, 03:33:58 PM
 #15093

this is actually very bad news for all the doom and gloomers; the Dow Theory non-confirmation that was never confirmed, didn't get confirmed, and in fact is off the table.  sorry, no Armageddon:

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October 31, 2014, 03:46:22 PM
 #15094

this is actually very bad news for all the doom and gloomers; the Dow Theory non-confirmation that was never confirmed, didn't get confirmed, and in fact is off the table.  sorry, no Armageddon:



Armageddon confirmed by the fact that all market action is driven by the central planners.

Calling it a market is humorous at this point.  "Guess what the central banks will do next" seems like a better name for this circus

Musical chairs continues
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October 31, 2014, 03:46:51 PM
 #15095

here's what a little QE moral hazard BS buys you these days.  the apparatchiks are firmly in control:

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October 31, 2014, 03:49:39 PM
 #15096

-

you just weren't born into the right family.
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October 31, 2014, 03:50:13 PM
 #15097

Armageddon confirmed by the fact that all market action is driven by the central planners.

Calling it a market is humorous at this point.  "Guess what the central banks will do next" seems like a better name for this circus

Musical chairs continues
The Federal Reserve official anthem: http://www.youtube.com/watch?v=zjedLeVGcfE
devphp
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October 31, 2014, 03:53:57 PM
 #15098

The higher all the pumped paper rises, the harder it falls.
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October 31, 2014, 03:55:16 PM
 #15099

i've been wrong in calling the bottom, for so long in terms of what seems to be an interminable decline (only 11 mo really), that it can't hurt anymore than it already has by calling the bottom yet again:

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October 31, 2014, 04:01:56 PM
 #15100

for the doom and gloomers who are into fractals, take heart in the Megaphone formation that appears to be similar to that of the 2007-8 period.  it's all in the eye of the beholder!

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