Gold collapsing. Bitcoin UP.

[miscreanity]

$27 silver.  don't blink.

Being fully locked and loaded, only actively working the Bitcoin environment, this has become a demented carnival ride. I sigh and chortle a bit whenever I see an article about gold failing or the Euro being doomed. Then I feel a pang of sorrow for the unwashed masses, so easily led astray, and get back to my projects.

Lift the wool from your eyes.

[cypherdoc]

$27 silver.  don't blink.

Being fully locked and loaded, only actively working the Bitcoin environment, this has become a demented carnival ride. I sigh and chortle a bit whenever I see an article about gold failing or the Euro being doomed. Then I feel a pang of sorrow for the unwashed masses, so easily led astray, and get back to my projects.

Lift the wool from your eyes.

[miscreanity]

Looks heavy.

That's why the price is dropping.

[cypherdoc]

USD shoots up to $81.35.  what happened to $80?

[cypherdoc]

USD shoots up to $81.35.  what happened to $80?

shooting even more. 

[tvbcof]

USD shoots up to $81.35.  what happened to $80?

The numbers seem to indicate that you are referring to the USDX.  It is a unitless index.  I mention it because it makes people who apply a '$' sign appear to be a bit ignorant of economics.

One the topic of the USDX, I suspect that the 82 range is not maintainable for long before things start to shudder frighteningly.  I look for this to provoke QE-3 prematurely...and with the anticipated consequences for PMs.

[miscreanity]

USD shoots up to $81.35.  what happened to $80?

shooting even more.  

Do we really have to do this again, only one day since it was put in perspective?

Disregarding the values and basing analysis purely on the chart lines, a myopic view would consider whatever is being represented to be "shooting" upward.


Let's be generous: 81.3 / 80.5 = 1.0099 which is still less than 1%!

Moving on...


It sure is good to get an idea of what we're dealing with: nothing special. Fundamentally, there is still no underlying strength. This is all relative to other competitors in an overarching systemic failure, not anything of value. We don't have autonomous robots capable of performing all human labor in order to prop up GDP - yet. Instead, developed nations' GDP is now mostly based on consumption! Destruction has been redefined as creation! That's f@#8ing insanity!

What is happening now is a controlled ascent in the USD due to continuous management of the high-automated "trading" currently taking place in what passes for markets today. If it were deemed necessary to make wheat worthless in dollar or Euro terms, it would be worthless in dollar or Euro terms - not because of any connection whatsoever to actual value or supply & demand, but because of the algorithmically-obedient drone mentality of current monolithic "market" participants.

Exactly the same thing occurred with equity markets over the past year, and we're now seeing the results of that value-less launch. Without any credibility to support extreme valuations, stocks are crumbling all around as the brainless trading systems follow their patterns without any notion of actual value. They buy and sell anything and everything when squiggly lines tell them to do so.

If I wet my finger and run it along the rim of a crystal champagne flute, it will hum. If I push price low enough to make a 50-DMA turn negative, algos will sell.

The real warning for investors/traders today should be: bank/government "markets" are for entertainment purposes only.

[HorseRider]

if gold gets below 1523, all Hell is gonna break loose...

Yeah the Chinese will be filling their vaults..

No, we won't. As all human being around the world, we like to invest in something that is in a rally sell others in a crash.

[silverbox]

I like how gold bounced nicely today off that low.  A bit of sanity returns

[silverbox]

if gold gets below 1523, all Hell is gonna break loose...

Yeah the Chinese will be filling their vaults..

No, we won't. As all human being around the world, we like to invest in something that is in a rally sell others in a crash.

The Central banks disagree with you..

http://www.prweb.com/releases/2012/5/prweb9503754.htm

When they can print gold, I'll believe this crash theory

[cypherdoc]

Looks heavy.

Yes, but look how physical miscreanity looks.  myopic yes, but strong nonetheless. 

[HorseRider]

if gold gets below 1523, all Hell is gonna break loose...

Yeah the Chinese will be filling their vaults..

No, we won't. As all human being around the world, we like to invest in something that is in a rally sell others in a crash.

The Central banks disagree with you..

http://www.prweb.com/releases/2012/5/prweb9503754.htm

When they can print gold, I'll believe this crash theory

well, I can only something like "Lombardi believes"... there is no evidence. just speculation that Chinese central bank are buying.  

Great news for you but sadly that the import of the Gold in 2012Q1 is as 5 times as 2011Q1 for China. However, in my opinion, it's not rare for any group of people (including the the Chinese people) buying at the top of a bubble. Chinese buying gold at 2012Q1, this is one vivid case that any bubble has someone buying at the top.

When the gold bear is more clear, we will see what will Chinese people do.

[cypherdoc]

if gold gets below 1523, all Hell is gonna break loose...

Yeah the Chinese will be filling their vaults..

No, we won't. As all human being around the world, we like to invest in something that is in a rally sell others in a crash.

The Central banks disagree with you..

http://www.prweb.com/releases/2012/5/prweb9503754.htm

When they can print gold, I'll believe this crash theory

well, I can only something like "Lombardi believes"... there is no evidence. just speculation that Chinese central bank are buying.  

Great news for you but sadly that the import of the Gold in 2012Q1 is as 5 times as 2011Q1 for China. However, in my opinion, it's not rare for any group of people (including the the Chinese people) buying at the top of a bubble. Chinese buying gold at 2012Q1, this is one vivid case that any bubble has someone buying at the top.

When the gold bear is more clear, we will see what will Chinese people do.

+1

gold bugs should know better.  when the news finally becomes mainstream, it's already too late...

[silverbox]

if gold gets below 1523, all Hell is gonna break loose...

Yeah the Chinese will be filling their vaults..

No, we won't. As all human being around the world, we like to invest in something that is in a rally sell others in a crash.

The Central banks disagree with you..

http://www.prweb.com/releases/2012/5/prweb9503754.htm

When they can print gold, I'll believe this crash theory

well, I can only something like "Lombardi believes"... there is no evidence. just speculation that Chinese central bank are buying.  

Great news for you but sadly that the import of the Gold in 2012Q1 is as 5 times as 2011Q1 for China. However, in my opinion, it's not rare for any group of people (including the the Chinese people) buying at the top of a bubble. Chinese buying gold at 2012Q1, this is one vivid case that any bubble has someone buying at the top.

When the gold bear is more clear, we will see what will Chinese people do.

+1

gold bugs should know better.  when the news finally becomes mainstream, it's already too late...

Sure when I hear the news that they are stoppin the presses (and the deficit spending) and pegging USD to gold, I'll know the bull is done and I'll probably have missed the peak.  Till then, this is a Bull market boys and girls

[tvbcof]

gold bugs should know better.  when the news finally becomes mainstream, it's already too late...

I'm still considered something of a freak amongst my friends and co-workers due to my interest in actual physical PMs.  Even my Indian ones interestingly enough.  It is anything but mainstream.  Of course my interest in Bitcoin simply confirms their suspicions.

On the bright side for pretty much all of us here, it's looking more and more like Bitcoin is winding up for a jump to the upside.  At least that's what it looks like to me.  It would be cool to me to get out of the red on Bitcoin although it is purely psychological.  As is the case with PMs, the price of Bitcoin is meaningless in practice except when I wish to buy or sell...and I'm happy with my holdings at this point.

-----

And on the topic of the convenience of Bitcoin vs. PMs, one might consider a situation where I needed an unusual amount of USD as part of a property purchase and dipped into my PM stash.  With a bit of bank-hopping and other planning, I had the USD in the account I needed within a day.

Contrast the above experience with this:  MT.Gox will not release over $26,000 USD

[hazek]

it's already too late...

ORLY: http://www.zerohedge.com/news/canary-gold-mine-historic-move-japanese-pension-fund-switches-gold-first-time-ever

[cypherdoc]

CB timing?

http://www.telegraph.co.uk/finance/personalfinance/investing/gold/7511589/Explain-why-you-sold-Britains-gold-Gordon-Brown-told.html

[silverbox]

gold bugs should know better.  when the news finally becomes mainstream, it's already too late...

I'm still considered something of a freak amongst my friends and co-workers due to my interest in actual physical PMs.  Even my Indian ones interestingly enough.  It is anything but mainstream.  Of course my interest in Bitcoin simply confirms their suspicions.

Ditto.  In all my informal polls of my coworkers, friends and family.  Nobody is invested in PMs.  One of my family members is a financial planner with 100s of clients,  only a handful own any mining or PM related etf/stocks..   

[cypherdoc]

$1523 coming right up!

[cypherdoc]

$27 silver...blink...gone.