Fireworks from the ECB
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+1
No matter what they call it, it’s inevitable.
They may just do it through Belgium. FED does not have to be transparent.
+1 Lawrence. The Fed, its everywhere you need to be.
More Qe, and no rate hikes like everyone keeps thinking.
Look at the BOC, everyone had been painted a picture rates would go higher and they come out yesterday and surprise the sheep and lower them.
+2
TIP OF THE iceberg…………………………………..
At first glance, I guess gold’s mooted reaction makes me wonder if people really get it. At this rate somebody could add a hundred trillion of QE before gold would reach its old high……….
If they take the lid off gold, it will reach old high in no time.
Something’s brewing Lawrence.
That is why we cannot look at the price alone. It is not a meaningful indicator. We have to look at something else. In physics it is called reference frame. In a fast moving train, you will not know how much you are traveling if you look at train itself. You have to see the outside.
I just downloaded the song “Truckin” by the Grateful Dead.
“What a looooong, strange trip its bin'”
I think the manipulators have been squeezed out, now it is just central bank policies doing the manipulation IMHO.
Right. If we know the ultimate outcome, we don’t need to know the path we get there. The path is unknowable and the destination is carved in stone.
Dan, I am confused as to why you refer to the manipulators and central banks as separate entities. Without mark to market, the manipulators never need to reveal their books, and they continue getting zero interest rates from the central banks.
Lawrence, it’s less a matter of “taking the lid off” gold and more of waiting for the epiphany again to come to markets, as I state elsewhere here…don’t forget, that once OTHER investors besides gold bugs got it in their head to buy, gold tripled from late 2008-late 2011…and no “conspiracy,” cartel or space aliens were going to stop it. Nor will gold’s next launch be stopped, once it sinks in that Draghi and everyone else could add another zero to their Q.E. budgets, and it won’t matter to anything longer term but the prices of PM’s, certain other commodities and legitimately-valued equities.
Chris, you can hold your opinion and I can hold mine. So far I am better than nearly all the analysts. What I can say is that if you keep this mentality and ignore the overwhelming evidence of price manipulation by central banks and governments, it will be ultimatey your loss in the future. You will get out of gold (and silver) so early and it makes no difference for you in the long run. If you think the government have the vested interest and power to crash a competing currency and not act on it, it is no even funny. Gold was down from 1980 to 2000 and remained depressed for 2 decades. The early 2000 run was playing catch up. You haven’t seen anything yet.
Sorry to be harsh but I feel very frustraded by people not believing ths FX intervention by central banks. They told us they have FX intervention all the time.
Just like the oil price, even when US and Saudi Arabia government told us why they let the price down, poeple keep guessing why and attribute it to economy. How off base people can be?
ditto on the lid………………
There remains a fair amount of the blind faith in central banks and their Q.E. schemes that still causes people to pile into financial assets. But that is starting to slip a little. It will slip a lot — and precious metals and certain other “stuff” will get launched — when the markets more fully make the transition fro “Oh, goodie — more free money!” to one of “Oh, my God…MORE free money!!??”
That day is coming.
Brilliant summation Chris. Every month or so I like to google “JPM Fines”
$25B and counting for JPM alone……………………….
as we have said before…………..that is a drop in the bucket……..jpm should be put out of business….along with the rest of The TBTF…………………jmho…………..j
They explained on CNBC why Greece is not receiving the QE till July, wow S&P rallying…..interesting to watch….
Greece will be in flames by that time…………..
Sacrificial lumb. Once Greece left Euro and drop to the abyss, no other country will dare to pursue the same route.
But guys Draghi looks so composed….not ‘in a gunfight’ at all CT, or where the ‘banks are printing themselves into oblivion’ or ‘throwing a hail Mary’ at the euro, as Al suggests. So relax everyone…before hitting the deck there’s no pain.
Draghi’s announcement hasn’t even made it to Sky news, at least not yet
I’m thinking of the old negotiating rule: Always look around the table and identify the fool. If you don’t see one, likely it’s you! Could that be the story of we people who visit pages like this? I guess only time will tell but some of us would like the answer in this lifetime!
It is indeed us who have touted gold and those of us who have warned of imminent conventional market collapse as it roared to one all-time high after another. Edelson claims that there will be a good size pullback, afterwhich US equities will blow sky high. I see that as correct. I missed the last go around. Gold likely hasn’t bottomed yet either. Gold will rise (and quickly) when people recognize the government as the monster it is, and fear it.
unemployment in Europe is 11+%….what’s the real unemployment rate in US…….looks to like the real common denominator in all economies is unemployment & too much government regulation and intervention ie central planning doesn’t work
I don’t think deflation delays purchases for the average guy, if my gas tank is empty Im not waiting to fill it because I might save $1 tomorrow.
I agree with Schiff on that point.
I think people who believe that they can print tremendous amount of something and still keep its value up are the real fools. Time is not their friend. All the previous attempts have failed, all, not exception. Why this time?
bb, but people can do as I have and move close to the office or take the bus instead. That’s happening a lot ever since the original oil bubble.
Whatever it takes…
https://www.flickr.com/photos/expd/16126476538/in/photostream/
Andrew…..Nice to see you like the GREAT BANZAI !!!
Europeans should all be saying “we are all Americans now.” ECB money printing sham will be good for the Euro zone markets just like they’ve been here in the U.S. The Germans are pissed but I bet they have developed their own backdoor exit strategy. I wouldn’t be surprised if this “QE” shell game lasts another 3 years before the music stops.
Gold is mute because it’s taking a breather. Having said that I agree with what Peter Hug over at kitco had to say about it. Watch that $1307 target…..and expect lots of whip saw action going forward. http://www.kitco.com/news/video/show/For-Petes-Sake/881/2015-01-21/If-Youre-A-Trader-Good-Luck-In-This-Gold-Market—Peter-Hug
Peter Hug is a trader. He has no idea where gold will go and does not care either.
ditto
Ive read a few different “areas to watch”, just looking at the live price charts, it looks to me we have a whole lot of “areas” to watch. or, a big wall of worry.
I think we have resumed the bull, if not, its just a matter of time anyway.
Adding 5-10% physical each month has been painless and worry free, even with “big” drops in price. It really has been the way to go, wish I could say the same about trading shares, but that all comes back when the stampeding herd of bulls on the horizon comes into focus. Course I could be hallucinating.
Confused, what is important about the 1307 Target? Kitco shows today’s high is 1308.40.
Peter Hug has never helped me or told me something I didn’t already know. Kitco is good for price monitoring, but other than that, their news is so biased it’s useless.
ditto
There’s about 1 in 10,000 good forecasters. The US is humming along composited to others countrys. 4 maybe 5% grown. This cheap energy adds to the bottom line of Many but not the energy business. There’s no way in H E double hockey stick more QE is coming. It’s more likey coming to Canada. What no one sees coming is a collapse in chinas stock market in probably s couple year. Hard to pin point right now. Your barking up the wrong tree. USA is in the drivers seat.
You really think the low energy price will boost US but not China. You should know China is a manufacturing economy and much more sensitive to the energy price. Think about it for a while.
China has its own problems. Unrelated to the oil price. People arnt buying near as much crap from China since the bust. It’s called deleveraing and it’s happened 10 houses around my place in northern WA the last year and tons of small homes. Boeing has orders for 1000 787s. I could go on for a while. China’s stock market is corrupt as hell. The US markets look like church compared. Thier AS SAFE AS ANYTHING ON THE PLANET. Study it in depth and you’ll see what’s coming.
China’s trade surpus just hit new highs.
China and US government is on totally different societal constraints. US can just abuse its privilege and Chinese government has to act very carefully. They have been talking about stability for a long time and enforce the two year long anti-corruption program until present. This action has resulted in big loss by to the elite themselves. They have no choice because people are very vigilant. They have been saying if the party does not achieve people’s trust and people will revolt and tens of millions will lose their heads, which include these elites. That is why they are fairly disciplined until now. Not because they are good guys but they need to survive. I remember someone said the if government fear the people you get freedom and if people fear the government you get tyranny.
If a guy in China praises his government like you do here, he will be laughed by people around him like a fool. Poeple do not have illusion as you have.
Nobody said I praised the USA gov. There is no gov to be praised. Irregardless I haven’t seen a single accurat prediction of the U.S. stock market rally or the crash in gold over the last 4 years accept for 2 guys. And your going to predict the next moves?
Bill……..who are the two guys you are talking about…………thanks…….j
I have no illusion that China will not collapse. It will collapse eventually when the elites abuse their power too. But it takes time. China is now in the process moving from an agriculture society to industrial. It takes time. There are a lot of resource still available. A lof of regions are still poor. They want to get rich as well.
+1
Deleveraging ….or overextended by debt…….
More crack to the drug addict!! overdose is gonna kill the economy.It is a matter of time.They are just prolonging the time and they (central bankers) are working in tandem.Even opec (saudia arabia in particular) has done it’s part by leaving the supply unchanged.
Yes I am aware Hug/Huggy is a trader but he seems more bullish than he has in the last four years….this is good imho. Gold has yet to break that $1307 and won’t until it is ready taking a breather. This should change by the end of the month. Doc is right about this too.
YEAR END PREDICTION…………………GOLD $2000
$4000 …..2017………………$6000 ..2018……………2020…..$10,000
Do you know its near impossible to predict the price of gold?? For a huge variety of reasons. I said it before Ill say it again…this is your opportunity to get out.
Another thing, there’s not near enough gold to have it as a currency. In fact if it was tie to the dollar you would dam near never get out of a depression. Take a look at 2nd world war. Bonds and war helped pull them out and if Bernanke hadn’t of printed the whole system would have sank for a long time.
does not need to be a currency ….to go up………..supply and demand…….7 billion people who are coming out of the dark ages…..
ever price a gold ring….solid gold…..I bet you can not buy it for $35….
No offence but your living in a dreamland. Nobody and I mean nobody wants gold. We will buy realestate or fine wine before gold. Better yet a winery.
ALL ready have all the above …….winery no…farmland yes………thanks j.
Nothing could be more bullish for gold than the fact that 98% of even high net worth individuals are clueless when it comes to gold.
Bill….I do not agree with you on every issue you have stated. Central banking has proved not to work………..You need to go back and do some reading on history.
proved to proven
Like he said, he is living in a dreamland. 🙂
For the most part it has. Money in circulation has to increase with population and the economy…Unfortunately they put a lot more in to stave off deflation but it hasn’t worked. Any idea what would have happened if they hadn’t pumped stimuli!!!??
Bad would have been unimaginable…..
Dollar strength is gonna choke the pms.Euro demise has been written today.I dont exclude euro parity with usd by the end of this year.Europe needs to cut its debt through inflation and todays qe was step 1.Deflationary pressure is rampant especially in europe and ecb knows it.Swiss were clever and they opt not to take part in this monetary debasement lunacy.They are doing their due diligence and they are the ones that will survive the coming recession.They are preserving their currency.ecb is afraid of the greek elections and they opted to come out with qe to give greek electors the impression that staying in the eu/ez is beneficial.However giving that greece has the most debt the program for them wont start until july.I have an uncanny feeling that this is not going to end well.
Don, what is your opinion as to why gold is UP nearly 15% at the same time the US Dollar Index is UP about 7% ?
Gold is taking a breather atm thats all.The best of all evil is still the usd and traders know that.U.s. treasuries are still the place to be and if stock market regains upward momentum the 15% rise in gold will be cancelled in a blink of an eye.Gold yields nothing not like stocks or bonds and traders put their mouth were the money is.Gold has no chance of gaining any credit as long as usd remains strong.
I think so Don…Also markets are elastic…everyone hates gold…seller dry up and it goes up…
Foolish mortal, time and price prediction make mortal look foolish.
Oil is far more important than gold. Gold crashes and no one but gold bugs care. But when oil crashes you see implications all over the planet. I dnot know what gold bugs are smokin.
that’s because goldbug have a knowledge most people ignore……..Oil is totally manipulated by a few………….which by the way can be substituted and is not as valuable as you think…..and I think oil just crashed……….
Matthew when people own 100s of millions in yielding assets you don’t need care much about gold. They could care less as their managing businesses and realestate. Not speculating.
Yes my point is oil crashed and gold prior. But most couldnt cares less about gold, but many are crapping their pants on the oil front.
Who here bought gold at $300 and silver at $6.???? !
Who here sold their silver at $49?????! Let’s see how smart ever one is.
I’ve got the paper to prove it. Drop me your email and I’ll send you a transcript of my last trade.
My cousin told me the the word is golds going to make a big move. They know nothing and bought at near the peak. He’s a contrarian indicator.
I bought silver at $7. Does that count? You should know Jewish always store gold regardless rich or poor. Last year I went to a private dinner party with President/COE of largest commercial bank National Bank in Canada. He admitted he is a gold bug. He would never say that in public. BTW, I am not a gold bug, yet.
Bill you must think that gold bug only own gold………….not so, this is only part of their total assets, just like real estate , which can not be moved around, and requires a purchaser and is a target for taxation without your consent. Businesses which require attending or the employees own you, and the Obama care will sink you….
.BIll…….I own gold much cheaper than $300….and silver at a $1
You need to go back and do some calculation on a total return over a lifetime of ownership and no just pick and choose a given number.
I’m talking this bull market not all the others. I got in and then got out and watch it fall apart while the DOW experienced one of the greatest bull markets of all times…
If someone like sitting on a dead asset for a couple decades by all means fill your boots. I can then say I have my gramps gold from the depression….How cheap was that.
Its all like watch paint dry.
Bill………I own stocks………….ever heard of a DRIP PLAN………….
LONG TERM INVESTMENTS…………….not herk and jerk……..set back and enjoy the ride………………………..best …………………………j.
Bill you have all the answers…….you need your own show……………
Bill, I could ask you who buys ANY asset cheap. That is hardly the point. (Though my average price on gold and silver is well under half of the current price.)
Your cousin represents the typical investor in any asset class. They buy high and sell low. Again, not the point. Gold simply has its time and place and so do Dow stocks, oil, or any other asset class. Those who ridicule people for buying gold are just as unsophisticated as those who ridicule people for buying stocks.
Would you rather own stocks than gold at this moment?
http://stockcharts.com/h-sc/ui?s=SPY:SGOL&p=W&yr=5&mn=3&dy=0&id=p98194911811&a=385995745
“Yielding” assets that are even remotely close to as safe as gold really yield nothing in real terms. That’s why gold has smoked everything since 2000. Since most do not understand the difference between real and nominal gains, most are foolishly happy to pay taxes on gains that might really be losses.
Do you believe that the Dow is higher today in real terms than it was in ’99/’00? If so, you’ve got some studying to do.
Gold was manipulated big time by the doom and gloomers. That put the top in. Did you sell? I sure as hell did.
It’s a joke whenever it’s going down its manipulated and when moving up that’s the proper direction.
The CFTC grandfathered JPM in along with their blatant violation of position limits.
Their should have been the short squeeze of all short squeezes .
Coincidence?
Rick is sharp but became a Sprotty…He’s a salesman now…Their growing a label….
BILL ….You are correct….on the manipulation. Now, just WHY DO THEY HAVE TO MANIPULATE IT………………..
Whos they?
While Gold has a a lure non other has. While you have the Jewish community in control of Wall street for the most part. They spent millions when gold was at its heights to pump it while they made MEGA in fees….NO OTHER INVESTMENT has gouging fees like the premium in gold a silver….it was getting ridiculous….While fees are guaranteed trades are not….Go and check out the list of the Peter Schiffs. all Jewish community folk…..We will sell you the stuff for a fee and charge you a fee to store it but we will never tell you when to sell it…..Fees of 5% were common and while the price drop’s from $1900 to $1200 I don’t even know what to tell you if one bought at higher levels…The poor common man comes along cause the wheels are coming off the bus umpteen years ago… only to get SMASHED by these con men…
As Kenny Rogers says……..YOU GOT TO KNOW WHEN TO HOLD EM, AND KNOW WHEN TO FOLD EM………………..
Ya but when you cant trust any of these people what does that say? Its criminal activity…
Bill….I do agree there are con men. If an individual does not do his DD, then who is to blame. If one gets in to late , who is to blame. If one is forced to sell , who is to blame.
If one over pays ,who is to blame. The common man usually relies on someone else to do the work, the uncommon man does his own work, discovers who he can trust, and who he contribute with…a give and share, but, the trust is not easily gained…..jmho.
J……..THE LONG>
These are CERTIFIED broker dealers.
Their criminals….
Who did they get the certificate from……….THE govt., which is the problem…..
Pretty good forecast but even worse that expected..JFT
OCTOBER 2014
A CRUDE REALITY
Should Saudi Arabia, along with its 11 fellow cartel members, decide to cut production on November 27th, the price of oil could rally. We would
take advantage of any bounce by increasing shorts, as we continue to remain bearish on energy on the back of rising US production and muted
global economic growth. If OPEC doesn’t cut, then we see the price of oil going lower than where it is today (WTI at $76.40USD) and think that
Canadian energy stocks could continue to fall as lower cash flow and in some cases dividend sustainability begin to weigh on the minds of
investors. Demand for oil is growing far slower than before as global economies remain weak, particularly in China and Europe. Regardless of
OPEC production cuts, we believe the price of oil will settle and remain below $80.00USD for the long term. We are also bearish on gas. The US has
a lot of natural gas, and over the past five years producers have dramatically improved their ability to get this gas out of the ground at a staggering
rate along with its oil production
WOW
I never said buy or sell their recommendation. Your putting words in my mouth…I said NO ONE HAS ANY accurate track record there why the hell would you waist your time a support an idiotic site like that…do you read the tabloids at the drug store.
Who cares that the juniors are in debt? What makes people slaves? There has to be slaves.
I use to advise Sprott Asset management…now i think their idiots…they lost their way..I sold all my funds there but some of one that is now down 75%. The best is now the worst..
Just want to know which doom and gloomer has the money to dump hudreds of tons of gold on the future market at one time? You must be joking, aren’t you?
You think that’s how it works?!
Its called a top when the majority is in and the distribution begins…then panic sets in…at some point….when there’s no liquidity or minimal bid it takes nothing to crush a market
ITS A TOP BECAUSE 95% bullish consensus…
At $1900 every average Joe was talking about gold and the end…
Why didn’t you sell? …I had a ton of silver…the bubble was in….POOF
Bill, in my experience, about 1-2% of people WITH MONEY had only a vague interest, not a position, in gold at the 2011 top.
Bill I agree with ….”when EVERY, average Joe”……….but, I am not sure, we exactly saw the every Joe, Tom, Dick and Harry……Joe maybe, but, TOM DICK AND HARRY did not show up on this last parabolic semi move……..I think we are still waiting for a bigger parabolic move. jmho.
Bill, Strange why do you assume I did not sell at 1900. I sold all my shares except 1000 of SVM and 25% of my silver. I did not sell gold since I had very little. Not worth the effort. I bought more gold on the way down. I told you I am gold investor not gold bug. I can see a lot of value in gold and silver. That is all. I am for hard currency off course. Gold definietly not on the top, look back at 2011.
Good for you ton of silver you have sold. I did not have that much, only 11000 ounces before 2011. Not I have more.
Now not Not.
Lawrence…Kudos if you sold! We getting a bounce….that’s it…when a bull market ends that’s it for a long time in the Gold department.
It doesn’t have to go to stupid parabolic to end…
JFT from Sprott (left years ago when Eric went stupid on PMs and JFT was selling them) has called every turn…I spoke with him a while ago…..No interest in putting any into gold…Commodities cycle ended…
Bill I think you have lived in a peaceful society for too long and lost vigilance. This is not about gold. It is about paper money dying. Like I said above:
“I think people who believe that they can print tremendous amount of something and still keep its value up are the real fools. Time is not their friend. All the previous attempts have failed, all, not exception. Why this time?”
Paper money has dead in ALL conutries including the young country called United States. Now your (and our’s too) leaders are following exact same path like the others. There is no secret about printing money, it has been done in any fiat currency systems. You can call it QE or ZIRP, but it has no difference with the old terms. Period.
Lawrence: Correct we are 80% electronic now and the upcoming youth know no difference you the will we assimilated. They could care less about paper gold or anything else and you cant tell them….
I guess there are far more poeple in the world than US. US has been exporting a few hundred tons of gold a year, several times of its production. Please think in a bigger scope.
Means very little in the scope. People around the world buy cars and coke with debt money…
the youth are still living with mommy and daddy…..and a debt card needs to be funded.
The youth are more broke than their parents……….have student loans out the wazoo, in debt on autos,,computers and cell phone……have zero in savings, and Obama is going to save them.
KWN……………says big money is moving in to gold………..per today’s article…food for thought…………maybe, maybe not……………………………j
KWN is one of the dumbest perma bull site out there…haven’t looked at it in over a year….You need to ask why no one ever says SELL???
If young people behave like you said, it is too bad for them. Instant gratification will result in their ruin. When they get financially wiped out and saddled with debt. They may have to pick up a gun to shoot someone. People who know how to protect themselves will always be the minority. US has printed over 4 trillion dollars in the last few years. How much has gone to the general public? None. They all went to the bankers. Unless you are one of those bankers, you’d better prepare. Fortunately you don’t know the rest of the world. I have seen people buying a lot of gold. This is the biggest wealth transfer of wealth in history, from the poor to rich and from unprepared to prepared.
Since KWN says buy, so you are not going to? If they say not jump out of building, are you going to jump? I haven’t seen a more simplistic justification than this.
WOW
I never said buy or sell their recommendation. Your putting words in my mouth…I said NO ONE HAS ANY accurate track record there why the hell would you waist your time a support an idiotic site like that…do you read the tabloids at the drug store.
Who cares that the juniors are in debt? What makes people slaves? There has to be slaves.
I use to advise Sprott Asset management…now i think their idiots…they lost their way..I sold all my funds there but some of one that is now down 75%. The best is now the worst..
Bill, I don’t know who you are and I don’t care what KWN says. The decision is mine. I will not let my sons to be slaves.
It’s a fools site. Never said you were buying thiers. I SAID its a waist of time and don’t deserve the attention. My kids 21 and not living in my basement.
Since you brought up Sprott, I have to say I have great respect for Rick Rule.
Bill……..did you ever think the kid never wanted to live in the basement…….lol
Started in Japan not Europe.
EUR – USD: 1.1375
Japan started QE, EU started QE, who´s next???
KWN actually does have bearish guests, but you can’t know that if you avoid the site.
This I agree with +1
Louise Yamada has been bearish for quite sometime.
Mr. King seems to know a lot of heavy weights. But he has been too bullish. In the long term he is right but in short term listeners can suffer if they are not prepared.
You traders think a little different than I do, I bought silver until I figured I had enough and it sits gathering dust, but I don’t need money from it. I figure the time to sell should happen 2020-2025.
Gold, I buy regularly just to gather dust too, that’s supposed to preserve purchasing power, nothing more than that.
I figure trading is for shares,etfs etc. A little leverage that way.
A few ways to look at things I guess.
+3
By the way do you or anyone have a picture of this Mr King lol
Agreed!!…..I give respect to that who deserves it….at the highs KWN pumping made me sick……I emailed them and shortly there after they put in a return email stating they don’t have time for responses…
They are entitled to their opinion. Don’t listen to them if you don’t like. What is the point of interference. They are needed to balance out the thick anti-gold crowd. This is a free country, I suppose. This society needs opposite view. CNBC makes me sick.
Spot on….CNBC is a racket and if you go to the core the Jewish community is in control…Just like Holllywoooood! They are cabals…I guess like most things today…
BB， I am not a trader but I usually lighten up when price is up and load heavily when price is down. My position in PM is so heavy so I am not comfortable. I need some money to buy oil as well. I am in canada so you know why
Maybe now they do….not at $1800 they didnt…..ever…
Matthew….Maybe now someone is bearish…not at $1700 1800 1900 they weren’t…. never….
I don’t have much money but I’m only buying gold and silver. And I’m going to keep buying.
Gold is rare , currency is not. Gold is indestructible , currency is not. Gold will always gravitate to its fair value , sometimes it takes to long to do so but then again, currency will always go to zero.
I admire all your talents for reading charts and all the technicals but I’m assuming that the numbers are skewed because of the fed and the ppt , so I don’t understand how you can trust them. Do you? It seems like musical chairs with many playing and perhaps no chairs, but nobody knows it. Disclosure… 28 1oz. gold coins, 1000 1 oz. silver coins. 175k cash with plans on doubling my gold and silver.
That way if there’s inflation my pm go up and if there’s deflation my cash buys more. I might be the dumbest guy here but I sleep good at night.
Metals to new lows soon. Gold might go up in 40 years, but who has time for that? Short now and get rich.
lol
Greg, you are certainly not the dumbest guy here.
More QE is coming to the US….much more……IT IS QE TO INFINITY..got Gold?