Out of curiousity.... does trading in gold shut down after a certain percentage increase is reached? At the rate it is going so far this evening.... doesn't look like much confidence in the fix..... could be bloody this week
Maybe tomorrow someone from the administration will come out and tell us that the cost of living is still at 3%, we've got low unemployment, and he doesn't see why people are getting excited...that oughta calm things down.
<< <i>Maybe tomorrow someone from the administration will come out and tell us that the cost of living is still at 3%, we've got low unemployment, and he doesn't see why people are getting excited...that oughta calm things down. >>
<< <i>With gold at $1021.90 in Asia the Mint site still shows the Dolley Madison 1/2 oz coins available at $529.95. I just ordered some but seriously doubt if the Mint will deliver. >>
They are only worth melt so why pay the premium? >>
Where else can you buy assayed gold so close to melt in small amounts?
<< <i>With gold at $1021.90 in Asia the Mint site still shows the Dolley Madison 1/2 oz coins available at $529.95. I just ordered some but seriously doubt if the Mint will deliver. >>
They are only worth melt so why pay the premium? >>
Where else can you buy assayed gold so close to melt in small amounts? >>
Raw VF Saints or Libs are only 40-50 over spot at retail for two examples and they're not even the best bang for the buck.
I just read this thread and am a bit dumbfounded at the moment. If the fed lowered interest rates at all on a Sunday evening then our economy is going to hell!!!!
<< <i>I just read this thread and am a bit dumbfounded at the moment. If the fed lowered interest rates at all on a Sunday evening then our economy is going to hell!!!! >>
The Fed would like to get out in front of the foreign market reaction to our problems before our markets open up and the ever increasing throng of current economic policy non-believers begin pulling more of their money out of stocks.
Before the emergency move to lower the discount rate today, which is the rate at which banks lend each other money, the Fed was widely expected to again cut its headline rate by as much as a full point to 2 percent at their next meeting this coming week!
That would be one heck of a cut to the Federal Funds Target Rate that now sits at 3% I believe.
Brian Wagner Rare Coins, Specializing in PCGS graded, Shield, Liberty and Buffalo Nickels varieties.
Pharmer is out buying more govt TIPS to cover the 2-3% stated inflation rates he clung so tightly to. Time is almost up for self-protection at this point. Gold shares will likely have a heck of a week. The PPT will be up late at night in the war room.
Heard at Bear Sterns tonight: Calling Mr. Bernanke, calling Mr. Hoover, calling Mr. Greenspan......calling Mr's Dewey, Cheatem and Howe.
<< <i>I just read this thread and am a bit dumbfounded at the moment. If the fed lowered interest rates at all on a Sunday evening then our economy is going to hell!!!! >>
The Fed would like to get out in front of the foreign market reaction to our problems before our markets open up and the ever increasing throng of current economic policy non-believers begin pulling more of their money out of stocks. >>
I understand why the fed is doing what they are doing it.... Think however of the picture they are painting. "(we are meeting in two days to lower rates by a historic amount.. yet we are so scared of the market conditions we must act TWO DAYS before our meeting on a Sunday evening to do an emergency rate cut)"..... This will freak out everyone in the morning
My biggest issue is I cannot remember any instance similar to this. Can anyone else here recall a time when the fed has lowered rates two days before a meeting? On a Sunday evening????
I own a lot of silver/gold... However, this is really scary crap long term!!!!
I would assume the FED was trying to prevent a 500+ point bloodbath on Monday. This may have done it for them....unless it just wakes up everyone else who was sleeping and they start bailing.
<< <i>I would assume the FED was trying to prevent a 500+ point bloodbath on Monday. This may have done it for them....unless it just wakes up everyone else who was sleeping and they start bailing.
<< <i>I would assume the FED was trying to prevent a 500+ point bloodbath on Monday. This may have done it for them....unless it just wakes up everyone else who was sleeping and they start bailing.
While continually touting open markets, this group in Washington has done everything in their power to micromanage the economy so that their stories about it's strength were not doubted by the average guy who puts his money in a 401K and never takes a look at it. Now they're intervening 2-3 times a week to try and hold back the tide, with little effect. I think that their economic policy has has it's run and the dam is about to let loose.
A bank holiday? Criminy, does that mean they'll try to shut down the commodity markets, too?
I recall that the London gold market was shut down during the banking holiday of 1968. Sterling never recovered its former position as an international currency and Britain declined as a capital power (in absolute terms) ever since.
Salute the automobile: The greatest anti-pollution device in human history! (Just think of city streets clogged with a hundred thousand horses each generating 15 lbs of manure every day...)
<< <i>A bank holiday? Criminy, does that mean they'll try to shut down the commodity markets, too? >>
...and you thought that you were living in a democracy...silly you. Socialism seems to be OK with the group in charge of the government, as long as those who eventually benefit are corporations and banks.
I wrote the following and posted it on the internet three years ago - mostly for entertainment purposes. But now it rings true:
>>>>>>>>>>>> Predictions from the Dark Side - April, 2005
Geologists say world oil production will soon peak and begin a long decline.
Economists and governments say world economic growth (and thus, oil consumption) will continue expanding. Danger ! – we’re on a collusion course !
So you’re one of the few countries left on Earth with oil to sell. Who are you going to sell it to ? The man typing zeroes on the computer ? The man waving wads of paper ? Or the man dropping solid gold bars at (but not on) your feet ?
Oil is purchased using USA/IMF gold. No one will know… until a few gold billion turn up missing.
The Sitting Buck will finally get picked off. Bonds away !!!
The Fed-Heads will not be grateful when the “Maestro” stops running the show. The “Jobloss Recovery” will be seen for what it really is: a prelude to hyper-stagflation.
Terrorism will continue unabated, and horrorism will grow unabashed. The Middle Beast will rear it’s ugly wellhead (again and again - but to no avail). The House of Saud will be forced into exile in Texas where they will start a “Howdy Arabia” ranch. Ironically, their new spread will be perforated with abandoned empty oil wells and Bushes.
And speaking of iron(y), Detroit will lose by default.
Japan will be in a no-gold situation. Goldzilla will attack and destroy Tokyo unreal estate.
The Chinese will buy anything they can with their Federal Reserve NOTs. Toro D’Oro will run rampant in the China shop. They’ll pull the peg on the Dollar - toilet paper investments will get flushed. No one will want to buy US Tragedy Bonds.
Europe’s “Growth vs. Stability Pact” will provide neither. Britain, England, and the United Kingdom will never agree on anything. Russia will be wooed by the United States, China, Europe, … and vodka.
When convicted of “GSE” (Government-Sponsored Embezzlement), Freddie & Fannie executives will go directly to jail. Do not pass gold.
Diesels will be scrapped in favor of donkeys. Donkey carts will be big. Genetically-engineered donkeys will be able to pull 25% more than ever before. But they’ll be 50% more stubborn.
The Baby Doomers will not be able to retire on time (if at all). Some will have to get jobs riding shotgun on donkey carts (or cleaning up after them). American cities will smell like everyone is passing the gas (pumps). “Road Rage” will take on a decidedly different atmosphere.
Citizens will finally realize that the Soylent Greenback is made out of people’s debt. And everyone will be forced to eat Soylent Greenspam for years to come. But in the Gold Folks home they’ll still eat real strawberry preserves - which will cost $500 (or a couple small pieces of silver) per jar.
Cut off the supply of oil lubrication to an economic engine, and it will grind to a destructive halt. And when it does, all the financial TV stupor-stars will be left shaking in their mute. All the really important economic facts will slip through the quacks. Stock cheerleaders will choke on their pom-poms. The S&P index will leave investors stranded & poor. The NASDAQ will do the nasty, and the DOW will be dour. The stock market bullish-it will hit the glass ceiling fan. The dreaded margin calls will not be returned.
Interest rate derivatives will vaporize. Insurers will sue. Counter-parties will counter-sue. James Bond Vigilantes will compound the problem. Junk bomb spreads will mushroom.
Checks will not be cashed. The issuance of cash will not be checked.
Trash will be burned in empty 55-gallon oil drums to generate heat for increasing numbers living on the street. The Snow job will just make it worse. Cash will be worth trash. “Throw it all in the cash can”.
“Socialist Security Privatization” is, and will always be, a triple-dip whammy of an oxymoron.
The government-issued medium of exchange will grow by leaps and bounds (digitally). But the new refrain in distant lands will be: “your imperial credits are no good out here !”. Digital petrodollars will be about as popular as diesel fumes.
A nefarious mastermind will increase the cost of oil even further – simply by not selling it. The few remaining oil suppliers (including this “Oilfinger”) will desire something substantial for their crude – like gold. Or platinum. Or palladium. Or silver. Or plutonium.
Talk of a renewed Gold Standard will increase. “Opportunity [Ft.] Knox !” Some Gold Certificates will be issued (secretly). Then too many will be issued (secretly). Gold reserves will be mobilized to cover commitments. Then the velocity of gold increases to hide the shortfall. Velocities increase until the tangible world of gold collides with the intangible world of digital credits. Here stops the Buck.
Digital credits are like a static charge. When they come up against a good economic conductor like gold, they discharge into nothingness.
In the competition for scarce oil, the good (desired) money will push aside the bad. The Argent at Arms will run the Fiat off a cliff.
Dislocation pressures are building, due to continued manipulations of all markets in the name of “stability”. The result will be major instability. The “Big One”, when it comes, will rip like a perfect 10.0 on the San Andreas. The debacle details will be covered up, whitewash-ington style.
Will we find that “deficits don’t matter” ? Try this phrase on for size: “shortages don’t matter”. It just doesn’t sound right (or even left).
A gold mind is never wasted. He who has lots of “stuff” will prevail. Thing King will rule. For he is the “Dude Uncommon” who now holds gold.
If the government wants to do something to get the country out of the mess that they made, they could re-enact some banking laws. Roll back and cap all interest rates at 9% over the prime rate. That would put some money into the hands of the consumer.
The way things are now, the government is overseeing a situation where they provide banks with cheap money...allowing the banks to charge unbelieveable interest rates when they relend it. The Fed could give no-cost money to the banks and it would not change the present situation. The people do not have money to spend after paying the interest on their loans...it's as simple as that. I know that it goes against the trickle-down theory that seems to be meeting it's end in yet another failed experiment, but why should the taxpayer finance the middle man (financial institutions). They might just as well give the money to themselves.
Comments
<< <i>Maybe tomorrow someone from the administration will come out and tell us that the cost of living is still at 3%, we've got low unemployment, and he doesn't see why people are getting excited...that oughta calm things down.
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
<< <i>
<< <i>With gold at $1021.90 in Asia the Mint site still shows the Dolley Madison 1/2 oz coins available at $529.95. I just ordered some but seriously doubt if the Mint will deliver. >>
They are only worth melt so why pay the premium?
Where else can you buy assayed gold so close to melt in small amounts?
Now $236 million.
Too bad I didn't short them
What kind of idiots are running the show there?
Those shysters are the "moneychangers" of today, similar to who Jesus chased from the Temple 2000 yrs ago
This is definitely the beginning of the end
Look for this stuff to happen weekly, then daily before we have total financial implosion.
<< <i>
<< <i>
<< <i>With gold at $1021.90 in Asia the Mint site still shows the Dolley Madison 1/2 oz coins available at $529.95. I just ordered some but seriously doubt if the Mint will deliver. >>
They are only worth melt so why pay the premium?
Where else can you buy assayed gold so close to melt in small amounts? >>
Raw VF Saints or Libs are only 40-50 over spot at retail for two examples and they're not even the best bang for the buck.
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
should have been buying more bullion ;-)
Let me say that I am not at all happy about this...but the tea leaves have been out for a long time.
J
siliconvalleycoins.com
<< <i>I just read this thread and am a bit dumbfounded at the moment. If the fed lowered interest rates at all on a Sunday evening then our economy is going to hell!!!! >>
The Fed would like to get out in front of the foreign market reaction to our problems before our markets open up and the ever increasing throng of current economic policy non-believers begin pulling more of their money out of stocks.
That would be one heck of a cut to the Federal Funds Target Rate that now sits at 3% I believe.
Heard at Bear Sterns tonight: Calling Mr. Bernanke, calling Mr. Hoover, calling Mr. Greenspan......calling Mr's Dewey, Cheatem and Howe.
roadrunner
<< <i>
<< <i>I just read this thread and am a bit dumbfounded at the moment. If the fed lowered interest rates at all on a Sunday evening then our economy is going to hell!!!! >>
The Fed would like to get out in front of the foreign market reaction to our problems before our markets open up and the ever increasing throng of current economic policy non-believers begin pulling more of their money out of stocks. >>
I understand why the fed is doing what they are doing it.... Think however of the picture they are painting. "(we are meeting in two days to lower rates by a historic amount.. yet we are so scared of the market conditions we must act TWO DAYS before our meeting on a Sunday evening to do an emergency rate cut)"..... This will freak out everyone in the morning
My biggest issue is I cannot remember any instance similar to this. Can anyone else here recall a time when the fed has lowered rates two days before a meeting? On a Sunday evening????
I own a lot of silver/gold... However, this is really scary crap long term!!!!
roadrunner
<< <i>I would assume the FED was trying to prevent a 500+ point bloodbath on Monday. This may have done it for them....unless it just wakes up everyone else who was sleeping and they start bailing.
roadrunner >>
If it ain't -350+, I'll be surprised.
<< <i>
<< <i>I would assume the FED was trying to prevent a 500+ point bloodbath on Monday. This may have done it for them....unless it just wakes up everyone else who was sleeping and they start bailing.
roadrunner >>
If it ain't -350+, I'll be surprised. >>
Me too. It's going to be ugly tomorrow.
<< <i>Watching the overseas news on the tube......Dow FUT down 227............looks like a panic.........tomorrow is going to be total madness.. >>
OUCH!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
roadrunner
I recall that the London gold market was shut down during the banking holiday of 1968. Sterling never recovered its former position as an international currency and Britain declined as a capital power (in absolute terms) ever since.
(Just think of city streets clogged with a hundred thousand horses each generating 15 lbs of manure every day...)
<< <i>A bank holiday? Criminy, does that mean they'll try to shut down the commodity markets, too? >>
...and you thought that you were living in a democracy...silly you. Socialism seems to be OK with the group in charge of the government, as long as those who eventually benefit are corporations and banks.
<< <i>What they didn't want in a 500+ day or days, was a repeat of Oct 1987. The Kitco site is talking about a possible banking holiday this week.
roadrunner >>
Stock and bond markets are closed on Friday so they could add on to that.
Proud recipient of two "You Suck" awards
>>>>>>>>>>>>
Predictions from the Dark Side - April, 2005
Geologists say world oil production will soon peak and begin a long decline.
Economists and governments say world economic growth (and thus, oil consumption)
will continue expanding.
Danger ! – we’re on a collusion course !
So you’re one of the few countries left on Earth with oil to sell.
Who are you going to sell it to ?
The man typing zeroes on the computer ?
The man waving wads of paper ?
Or the man dropping solid gold bars at (but not on) your feet ?
Oil is purchased using USA/IMF gold.
No one will know… until a few gold billion turn up missing.
The Sitting Buck will finally get picked off.
Bonds away !!!
The Fed-Heads will not be grateful when the “Maestro” stops running the show.
The “Jobloss Recovery” will be seen for what it really is:
a prelude to hyper-stagflation.
Terrorism will continue unabated, and horrorism will grow unabashed.
The Middle Beast will rear it’s ugly wellhead (again and again - but to no avail).
The House of Saud will be forced into exile in Texas
where they will start a “Howdy Arabia” ranch.
Ironically, their new spread will be perforated with
abandoned empty oil wells and Bushes.
And speaking of iron(y), Detroit will lose by default.
Japan will be in a no-gold situation.
Goldzilla will attack and destroy Tokyo unreal estate.
The Chinese will buy anything they can with their Federal Reserve NOTs.
Toro D’Oro will run rampant in the China shop.
They’ll pull the peg on the Dollar - toilet paper investments will get flushed.
No one will want to buy US Tragedy Bonds.
Europe’s “Growth vs. Stability Pact” will provide neither.
Britain, England, and the United Kingdom will never agree on anything.
Russia will be wooed by the United States, China, Europe, … and vodka.
When convicted of “GSE” (Government-Sponsored Embezzlement),
Freddie & Fannie executives will go directly to jail.
Do not pass gold.
Diesels will be scrapped in favor of donkeys. Donkey carts will be big.
Genetically-engineered donkeys will be able to pull 25% more than ever before.
But they’ll be 50% more stubborn.
The Baby Doomers will not be able to retire on time (if at all).
Some will have to get jobs riding shotgun on donkey carts (or cleaning up after them).
American cities will smell like everyone is passing the gas (pumps).
“Road Rage” will take on a decidedly different atmosphere.
Citizens will finally realize that the Soylent Greenback is made out of people’s debt.
And everyone will be forced to eat Soylent Greenspam for years to come.
But in the Gold Folks home they’ll still eat real strawberry preserves -
which will cost $500 (or a couple small pieces of silver) per jar.
Cut off the supply of oil lubrication to an economic engine,
and it will grind to a destructive halt.
And when it does, all the financial TV stupor-stars will be left shaking in their mute.
All the really important economic facts will slip through the quacks.
Stock cheerleaders will choke on their pom-poms.
The S&P index will leave investors stranded & poor.
The NASDAQ will do the nasty, and the DOW will be dour.
The stock market bullish-it will hit the glass ceiling fan.
The dreaded margin calls will not be returned.
Interest rate derivatives will vaporize. Insurers will sue.
Counter-parties will counter-sue.
James Bond Vigilantes will compound the problem.
Junk bomb spreads will mushroom.
Checks will not be cashed. The issuance of cash will not be checked.
Trash will be burned in empty 55-gallon oil drums to generate heat for
increasing numbers living on the street.
The Snow job will just make it worse. Cash will be worth trash.
“Throw it all in the cash can”.
“Socialist Security Privatization” is, and will always be,
a triple-dip whammy of an oxymoron.
The government-issued medium of exchange will grow by leaps and bounds (digitally).
But the new refrain in distant lands will be:
“your imperial credits are no good out here !”.
Digital petrodollars will be about as popular as diesel fumes.
A nefarious mastermind will increase the cost of oil even further –
simply by not selling it.
The few remaining oil suppliers (including this “Oilfinger”)
will desire something substantial for their crude –
like gold. Or platinum. Or palladium. Or silver. Or plutonium.
Talk of a renewed Gold Standard will increase. “Opportunity [Ft.] Knox !”
Some Gold Certificates will be issued (secretly).
Then too many will be issued (secretly).
Gold reserves will be mobilized to cover commitments.
Then the velocity of gold increases to hide the shortfall.
Velocities increase until the tangible world of gold collides with the
intangible world of digital credits.
Here stops the Buck.
Digital credits are like a static charge.
When they come up against a good economic conductor like gold,
they discharge into nothingness.
In the competition for scarce oil, the good (desired) money will push aside the bad.
The Argent at Arms will run the Fiat off a cliff.
Dislocation pressures are building, due to continued manipulations
of all markets in the name of “stability”.
The result will be major instability.
The “Big One”, when it comes, will rip like a perfect 10.0 on the San Andreas.
The debacle details will be covered up, whitewash-ington style.
Will we find that “deficits don’t matter” ?
Try this phrase on for size: “shortages don’t matter”.
It just doesn’t sound right (or even left).
A gold mind is never wasted.
He who has lots of “stuff” will prevail. Thing King will rule.
For he is the “Dude Uncommon” who now holds gold.
<<<<<<<<<<<<
The way things are now, the government is overseeing a situation where they provide banks with cheap money...allowing the banks to charge unbelieveable interest rates when they relend it. The Fed could give no-cost money to the banks and it would not change the present situation. The people do not have money to spend after paying the interest on their loans...it's as simple as that. I know that it goes against the trickle-down theory that seems to be meeting it's end in yet another failed experiment, but why should the taxpayer finance the middle man (financial institutions). They might just as well give the money to themselves.
For he is the “Dude Uncommon” who now holds gold.......................
Looks like this is gonna be a little more then a "correction"
Proud recipient of two "You Suck" awards
"The silver is mine and the gold is mine,' declares the LORD GOD Almighty."
<< <i>Cutting .25 on a Sunday seems counterproductive, especially with a meeting on Teusday-------------------BigE >>
They cut the discount window rate today and more than likely the Fed Funds rate on Tuesday. (Different rates for different types of borrowing).
I have a feeling Tuesday's edition will be one I'll be saving.
Here's a warning parable for coin collectors...
cut on Monday, before the USA Markets open on Monday.
They will cut by 1% to a new FED rate of 2%.
Camelot
YaHoo Asian Market