Gold collapsing. Bitcoin UP.

[tvbcof]

Hammer at resistance level in USDX today

EDIT: USD just kissed the resistance line... last chance for me to be right  

EDIT2: Really interesting price movements today.  We are at a major decision point I think.

I think you are basically right (insofar as the USDX will only be allowed to exist at a certain level on the high side) but I don't think that it is possible to avoid spikes above the desired level high end.  The drop-dead number I've pulled out of my ass is 80-ish.  I suspect that QE3 was implemented in such a way as to pull the USDX down to that level for starters, but also to provide a little less latency as future necessities pop up.

My personal sense is that the architecture of QE3 was implemented with some haste and probably without a full study of the corner-case dynamics.  It would be interesting to find out if adversaries of the US can twang the strings in such a way to get a destructive harmonic going (if/when it suits their interests to do so.)

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[cypherdoc]

uh oh.  USD=80.25 

[SkRRJyTC]

Gold and silver are going to go under their lows from 5 days ago (~1740 or ~34), but not below major support at ~1650 or ~30, before continuing to higher highs.

Just thought I should put one of my predictions to the test as well as bashing Cypher's

Under 1740 and 34... now to find support above 1650 and 30.

My crystal ball is showing that the USDX just topped.  I think this week could contain one of those corners you like to look for Cypher.  Should be an exciting week.

USD moving up and through 80 with relative ease.

Break this line and I will admit defeat in my USD predictions

I dont think it will, due to infinite easing.

I was wrong.  Resistance line appears to be broken.  Closing above and finding support at that line would be the final nail.

EDIT: no support yet 

[cypherdoc]

I have been holding this short for months and finally Kaboom!

Think of the implications for Bitcoin:

[SkRRJyTC]

Gold appears to be having starting its own Kaboom moment.

[molecular]

I have been holding this short for months and finally Kaboom!

Think of the implications for Bitcoin:

lol: how to invest into bitcoin if you don't want to touch the stuff? well: short its enemies.

[vokain]

I have been holding this short for months and finally Kaboom!

Think of the implications for Bitcoin:

[img]http://stockcharts.com/c-sc/sc?s=WU&p=D&b=5&g=0&i=t30764221880&r=1351694485257

lol: how to invest into bitcoin if you don't want to touch the stuff? well: short its enemies.

http://www.businessweek.com/news/2012-10-31/western-union-falls-after-paring-profit-forecast-denver-mover
“Our sharply lower 2013 and 2014 revenue and earnings-per- share estimates reflect management’s decision to reduce price in key corridors in an effort to regain share,” Andrew Jeffrey, an analyst with SunTrust Banks Inc. (STI), said today in a note that downgraded the shares to neutral from buy. “Some competitive pressure is coming from new entrants, while much is likely from traditional participants.”

[cypherdoc]

lol: how to invest into bitcoin if you don't want to touch the stuff? well: short its enemies.

This  

edit:  actually there's no harm in doing both!  win on each end!

[cypherdoc]

lol: how to invest into bitcoin if you don't want to touch the stuff? well: short its enemies.

This  

edit:  actually there's no harm in doing both!  win on each end!

its like selling/shorting gold and silver to buy Bitcoin.  oh wait...

[cypherdoc]

Gold appears to be having starting failing its own Kaboom moment.

[SkRRJyTC]

Gold appears to be having starting failing its own Kaboom moment.

I see USD failing to find support after barely breaking the horizontal resistance line I drew earlier.  I also see Gold breaking its own resistance levels much more decisively...

[conspirosphere.tk]

Just out:
Jim Willie: ''Central Bank Gold Rehypothecation Scandal to Take Gold to $5,000/oz''
http://www.silverdoctors.com/jim-willie-central-bank-gold-rehypothecation-scandal-to-take-gold-to-5000oz/

[lebing]

Just out:
Jim Willie: ''Central Bank Gold Rehypothecation Scandal to Take Gold to $5,000/oz''
http://www.silverdoctors.com/jim-willie-central-bank-gold-rehypothecation-scandal-to-take-gold-to-5000oz/

is there a TLDR version?

[cypherdoc]

Just out:
Jim Willie: ''Central Bank Gold Rehypothecation Scandal to Take Gold to $5,000/oz''
http://www.silverdoctors.com/jim-willie-central-bank-gold-rehypothecation-scandal-to-take-gold-to-5000oz/

do you have any idea how long Willie has been saying this?  his letters are teaming with doom and gloom.  got tired of reading him year after year.

[conspirosphere.tk]

do you have any idea how long Willie has been saying this?  his letters are teaming with doom and gloom.  got tired of reading him year after year.

Yes. I am reading him from several years and is always a good fun. No doom and gloom at all if you are a gold/silver bug. If I ever made any money investing is thanks to him, Bob Chapman (R.I.P.), The Mogambo, and a few others of the same kind.

Here is some snippets from this one:
"The hidden motive in the Libyan overthrow of Qaddafi was to steal his 144 tons of gold held in London. The banksters needed it. ...Tiny Ghana demanded its gold return from London, but suddenly its leader showed up dead. ...Germany will be disappointed when it learns the gold is gone."

edit: (lol. disappointed? A raving Hitler would not be enough to express it.)

edit 2: The publication TheStockMarketWatch reported in a post titled RAW VIDEO: ConEd Power Station Explodes In NYC  that the underground vault holding all of Germany’s gold reserves was completely destroyed. The actual source of this BREAKING NEWS FROM DC is The Daily Bail – here’s the quote:
In a hastily convened press conference, Fed Chairman Ben Bernanke announced Monday night that the ConEd explosion in NYC had completely destroyed the underground vault holding all of Germany’s gold reserves, thereby nullifying all recent German attempts at gold repatriation.
The gross value of the loss is $8,259,840,000.00 in today’s spot Gold/oz price of $1,720.80 at Kitco.com
Read all: http://theintelhub.com/2012/10/31/germany-loses-8-2-billion-as-geoengineered-superstorm-covers-heist/

edit 3: It was a spoof. Theintelhub took that seriously.

[silverbox]

WU looks like a buy to me down here.

I'd cover that short pronto

[cypherdoc]

WU looks like a buy to me down here.

I'd cover that short pronto

exactly what i'd expect from the inflationist White Horse guy!

[labestiol]

Just out:
Jim Willie: ''Central Bank Gold Rehypothecation Scandal to Take Gold to $5,000/oz''
http://www.silverdoctors.com/jim-willie-central-bank-gold-rehypothecation-scandal-to-take-gold-to-5000oz/

is there a TLDR version?

Too much "IOU Gold" around. This is going to deflate, and gold value will go up. Quite the same idea as for USD.

do you have any idea how long Willie has been saying this?  his letters are teaming with doom and gloom.  got tired of reading him year after year.

I'm not reading him for years (not reading him that much tbh), but according to the rise in the price of PM he's not especially wrong imo.

WU looks like a buy to me down here.

I'd cover that short pronto

Care to explain that (and give a timescale ?)
Looks to me like a great long term short

[silverbox]

Just out:
Jim Willie: ''Central Bank Gold Rehypothecation Scandal to Take Gold to $5,000/oz''
http://www.silverdoctors.com/jim-willie-central-bank-gold-rehypothecation-scandal-to-take-gold-to-5000oz/

is there a TLDR version?

Too much "IOU Gold" around. This is going to deflate, and gold value will go up. Quite the same idea as for USD.

do you have any idea how long Willie has been saying this?  his letters are teaming with doom and gloom.  got tired of reading him year after year.

I'm not reading him for years (not reading him that much tbh), but according to the rise in the price of PM he's not especially wrong imo.

WU looks like a buy to me down here.

I'd cover that short pronto

Care to explain that (and give a timescale ?)
Looks to me like a great long term short

I think the market overeacted to the downguidance and the price will come back up from here, the business model is still very profitable and with the current PE and dividend yield, its an attractive investment at the current price.

[lebing]

I think the market overeacted to the downguidance and the price will come back up from here, the business model is still very profitable and with the current PE and dividend yield, its an attractive investment at the current price.

business model?  P/E Ratio?  What am I missing?