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Old 09-22-2011, 12:51 PM   #1
Edisesyethisp

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Default falling off a cliff!
What is this all about? Print money and the value goes up, I don't get it.
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Old 09-22-2011, 12:54 PM   #2
wowwieholmes

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I have no clue. Went to bed and things looked OK. Only thing I can think of is they will be announcing something PM positive and this is the pre-news sneak attack.
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Old 09-22-2011, 12:58 PM   #3
oxixernibioge

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as long as US $ can be used to buy other REAL things, people will sell assets, including commodities & PMs, to buy other things.

bit of a surprise though, huh.
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Old 09-22-2011, 01:29 PM   #4
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as long as US $ can be used to buy other REAL things, people will sell assets, including commodities & PMs, to buy other things.

bit of a surprise though, huh.
Yeah, but this is a pretty big sudden drop and nothing has changed. Everybody just decided last night that they needed cash for something? The sell off must have been precipitated by something.
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Old 09-22-2011, 01:33 PM   #5
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$36 jpm options expiry. 60 days over $36 triggers the collpase of jpm. 6 days left. have to get it under $36.
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Old 09-22-2011, 01:33 PM   #6
Edisesyethisp

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9:30, dead cat bounce?
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Old 09-22-2011, 01:48 PM   #7
wheettebott

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$36 jpm options expiry. 60 days over $36 triggers the collpase of jpm. 6 days left. have to get it under $36.
Is that business days? So expires on 9/30?

Thanks.
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Old 09-22-2011, 01:54 PM   #8
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it had been reported earlier in the year that $2-$3 days for silver would become the "norm"...perhaps that is what we are seeing here...
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Old 09-22-2011, 02:03 PM   #9
Karinochka

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DOW crashing too... off 350+ so far.
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Old 09-22-2011, 02:08 PM   #10
HarryMet

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i believe it's september 30.
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Old 09-22-2011, 02:37 PM   #11
BypeVupyide

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i believe it's september 30.
Your're so calm and cool Chad. I'd be calm too if I found giant boulders laced with gold veins in my backyard.
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Old 09-22-2011, 02:41 PM   #12
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Quote from Neuro on a different thread:

they allready pumped in 2.6 Trillion dollars worth of liquidity through the currency swap last week. If they by not openly monetizing, can keep the markets down initially, that means that those banks gets a part of that liquidity can buy up assets on the cheap. I think we will see silver down to about 35-36, probably within days, Dow to the low 10k's, and then those on the inside will start buying... And then it will accelerate as the money trickles in to the market... Rapid gains in the spring until the money runs dry. Wouldn't be surprised if we see gold at $2500, silver at $100 and DOW at 15.000 in May or so...
I think this is what we're seeing. The protestant promised a fresh $400 billion yesterday, and the banks are salivating for their shares.
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Old 09-22-2011, 03:04 PM   #13
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You guys give Christians a bad name when you refer to Babylonian Bernanke as "The Protestant".
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Old 09-22-2011, 03:13 PM   #14
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Your're so calm and cool Chad. I'd be calm too if I found giant boulders laced with gold veins in my backyard.
ouch! my back hurts from hauling them!
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Old 09-22-2011, 03:25 PM   #15
BypeVupyide

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ouch! my back hurts from hauling them!
Go ahead, rub it in! I can take it!
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Old 09-22-2011, 03:38 PM   #16
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Quote from Neuro on a different thread:

I think this is what we're seeing. The protestant promised a fresh $400 billion yesterday, and the banks are salivating for their shares.
I was just thinking of that post when I saw the numbers this morning.
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Old 09-22-2011, 04:17 PM   #17
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I can help! I got a wheelbarrow. Three of 'em actually. lol
I up you with a D10
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Old 09-22-2011, 04:44 PM   #18
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Yeah, but this is a pretty big sudden drop and nothing has changed. Everybody just decided last night that they needed cash for something? The sell off must have been precipitated by something.
I don't think this has anything to do with selling assets. This is all about the imminent default of Greece. The Euro is in big trouble, and the U.S. Dollar is indexed against the Euro. Gold is a global commodity, so as the dollar strengthens, you can purchase more of it with strong Dollars.

And on a technical level, the 200 day moving average for gold is $1500. So this is perfectly in line with expectations. Gold has been acting like this for 10 years, and I don't see why people are still surprised by it. The only short-term favorable is the seasonals. I suspect we're going into the wrong season for gold to be approaching its lows, so I would guess it won't get anywhere near $1500 any time soon. More likely it will get down to its 200 DMA moving average next summer, when it will be more in the $1600-$1700 range.
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Old 09-22-2011, 07:14 PM   #19
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I was just thinking of that post when I saw the numbers this morning.
To tell the truth I wasn't expecting it already the next day. Question now is whether 200 day moving average for silver will hold. I think it is around 35.50. Damn it I would like to go and buy silver tomorrow, but I don't have time!
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Old 09-22-2011, 10:32 PM   #20
Z2sc8gEz

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You guys give Christians a bad name when you refer to Babylonian Bernanke as "The Protestant".
We're just making fun of Alex Jones who defended Bernanke when he was accused of being Jewish, Alex said he was a Protestant. But point taken, thanks.
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