A touch bit upset, no! If you can't be HAPPY now, you'll have a hard time being HAPPY later!
Au Revoir mi amor!
Damn, those G/S black-boxes are smok'in hot! But still not where I want it! LOWER PLEASE, while the economy is still HOT-HOT-HOT!
ps: How do you take $2,2730 gold and take it to $1050 in roughly two months? Watch what can be done when the machines are "so finely tuned"!
The problem as I see it right now, is that stocks aren't high enough, and gold's not low enough! So, bash-it-down, and talk-it-up! Economy is shinier and brighter than I've ever seen it in my life! Why would anyone want to one a worthless yellow metal under these boom-times with no inflation? Never mind Chine just infused their banks with $700-billion cash injection to keep things afloat, Europe's teetering on Recession, Vladamir is moving his rooks fast across the board, the real work-force participation rate is dismal here in Boom-town USA, dollar stores abound, people are working harder-and-harder for less-and-less, unless you got injected by Bernanke-Paulson-and Co. Millenials are swimming in debt up-to-their-ears, and actually paying for internships! Total US-debt is rock'in near $18-billion! But don't worry about the facts! We've got Baba and Facebook providing tons of jobs to workers the world over!
I predict this vibrant, booming economy will last until October 28th, 2014, that's when Yellen must deliver the news that, "sorry boys, we can't backstop you like before", the myth of $15-billion-more-a-month was just a litmus test to gauge the Markets. Things are too good for us to increase our balance-sheet beyond the $4-trillion we've already inflated your assets. But we probably won't raise rates until 2016! Let's see how "BOOMING" the Markets take that news!
Please keep sinking-sinking-and-sinking! Please oh please...I want CHEAP...not there yet, but waiting patiently! Do your job short-trolls PLEASE! Let's have a chorus of "lemmings, told-you-so's and other tasty refrains! I'm waiting!
It's not "the gold company" that's the problem, it's the GS-promise of 1050 gold eoy, and a booming stock market with absolutely zero inflation.(odd how the Market's can boom with dis-inflation, hay! Welcome to QE-effects and taper-tantrums!) You don't think they make those calls lightly and foolishly do you? You realize they have great power to pressure the gold Market? They are doing an excellent job of having Paper-Holders believing "all is well-and-dandy" in the financial world, and the end of QE will be seamless and smooth! Yet, when did the Market turn-on-a-dime? When one Fed mole mentioned that maybe QE wouldn't be ended so soon! That's when the Market's jerked some +300points in the blink-of-an-eye! They gave it all back the next day, then have proceeded to remain relatively calm, giving the appearance that, indeed, all is well, and Fed-paper is the Power and Place to Be! Let's see what happens during the Oct 28 pow-wow, and can you imagine if Yellen folds and lays-down an empty Fed hand, and takes the Market's crack away? Don't be FOOLED, imo! All is not so rosy and well, except for the Wall-Street elite. I know corporate stiffs that are suffering in this economy, yet both spouses are working at Fortune-500 companies, raising x3 children in private schools, and living in a nice neighborhood, but are essentially broke!
What should carry the Markets to record highs are "plenty of good paying jobs, with lots of participants, fueling the consumer-society"! Instead, we've taken the upper-middle-class, and turned them into working stiffs, hanging their hopes on retirement, if there is one, and if they aren't down-sized out of the program.
I'm not buying the GS/Fed cool-aide, and I see a double-top on the Dow and lots of pain to come! Gold will rebound when "the herd" finally disbelieves the QE-beneficiaries that keep shouting how good things are! Or until the masses grow-a-big-sack, and say, "enough's-enough"
Wow, wonder what will happen with a gaping hole? Goldman said "all is fine-and-well", as the Fed winds-down! What's "fine-and-well" with a 2.31% 10-year? Oil looking like it's headed to $75? Europe looking like recession? Japan-stagflated and China slowing? Never mind the noise, as Lawrence Kudlow says, "King dollar is here (funny how his Goldilocks economy came under socialist Obama, never a Republican admin.!) "Buy-buy-buy yesterday's dip"!~ What a joke!
Don't you find is just a smidgeon odd that the Market stars tanking in Oct? Small coincidence huh! I guess it just so-happens that the Fed won't be buying any more MBS's and such, and the time when the big-banks can play with Fed money is getting less free! I thought the banks were supposed to be lending-out that Fed money to consumers? Instead, what did they do with the $4.5 trillion? They loaned-it-out to Corporate America, so the uber-rich could get richer still, and the big-banks could lever-up their balance-sheets, and play with Fed-money, guaranteeing them a "non-losing proposition" by parking free money at the Fed, and by playing the stock market! That is, until October...and until the Fed won't be supporting the Market to such a degree! Now the Market will throw-a-tantrum, and force the Fed to extend the party, or else! Stay-tuned sheep-le, this is how we give-away the storehouse USA to the very forces that stole-your-house, and put you in bankruptcy! How come we didn't get rescued like all the other corporate entities? Not only did they get rescued, but that got free reign of the Fed's no-limit, guaranteed credit-card! Go figure!
One more tid-bit of note, you'll remember how Goldman placed their $1050 gold target against the backdrop of a "sound, robust, healed, stock-market", with a soaring dollar, Fed ready to slowly raise interest rates back to pre-crisis levels (yeah right, as if they'll be able to do that anytime soon!) cheap-gas for all, and corporate profits (a la more corporate buy-backing than consumer-driven, imo) coming-out the wazoo! Well, let's monitor how "soaring" the Market is and will be without Fed-bond-buying!
I hear you, and my sentiments exactly; Pro-traders have already said they expect a bounce from recent lows that they will short on the top, to achieve the Goldman-Fed target of $1050 eoy; We are simply "sheep-le", losing our homes to G/S, Bank-of-America, giving our hard-earned coin to Bluffet-and-Co. This is an un-real rigged-game, and naive American stock consumers like to think it's a "free-and-fair market". Just ask verteran bank compliance lawyer Carmen Segarra, former Federal Reserve bank examiner, about the relationship between Goldman-and-the-Fed. Might as well say, Goldman-is-the-Fed. (she secretly taped conversations among the Fed about Goldman, where it was weirdly heard obyFed-members saying to "go lightly on saying anything negative about Goldman, as we wouldn't want to upset them at all"; This after Loyd Blankfein lies before Congress about G/S's complicity in the CDS/CDO mortgage bank fraud, the fall-out we're still suffering through.
The only way this game doesn't go according to the Big-Bank-Fed-Bed's plans, is if the "no-more-asset-buying" scheme is met with outright Market turmoil, and the Fed is forced to taper-the-taper, and re-ignite more asset purchasing. This is a real possibility, and don't be so naive to believe there's no correlation between the Market's swoon of late, and asset purchases ending this month! And don't even mildly consider what actual rate increases would do!
We'll see, but I still contend there will be a big day of reckoning, when the Fed's $4.5 balance-sheet, will have to be accounted. Looks like it's already started!
I hate to be an antagonist, b/c I'm long some options in another miner, but I don't think things turn favorably that easily here; Goldman-and-the-Fed wont let gold get to where it rightfully belongs, b/c they control the options markets/derivatives, where the bullion is priced in options, not physical. It such a scam, and until China or someone opens-up the real gold-based-in-actual bullion, this shorting scheme will go-on, and on, and on. Either that, or we have some big world instability where people REALLY distrust the USD. Otherwise, I'd be happy with $1,400 gold somewhere in '15, but it wouldn't surprise me to see them take it to $1050, not ironically right where Goldman targeted it! Go figure!
Xetra-Gold derivatives are based upon a zero-coupon bond denominated in euro and issued by Deutsche Börse Commodities GmbH. Launched in December 2007, Xetra-Gold® is traded on Xetra®, Deutsche Börse AG's pan-European electronic trading platform for the cash market.The contracts will be physically settled with the delivery of the underlying Xetra-Gold® ETC. Additionally, in a separate transaction between the holder of the ETC and Deutsche Börse Commodities, the holder has the right to request delivery of physical gold.
London Gold Market
These gold futures and options will be denominated in USD and cash-settled. The contracts reflect a value of 100 troy ounces. The price of the worldwide recognized gold fixing in the London Bullion Market, provided by The London Gold Market Fixing Ltd., will be taken as the reference price for the cash settlement. With its gold contract, Eurex especially aims to offer access to clients who prefer or require a cash-settled contract. Only a small percentage of forward transactions actually result in physical delivery, therefore Eurex's cash settled contracts can accommodate both physical and financial market participant's requirements."
Rigged! Until it isn't! GS are the most crooked, corrupt organized "legal syndicate" in the world! They do make me sick at my stomach, and if you don't think they are "in-bed/w the Fed", you are one Naive B! But let them drive-it-down, b/c it will only be a good-better buying opportunity, imo. I don't believe in bogus asset inflation as a cure-all to economic malaise....as a "stop-gap" to save from a depression, yes, but not as a band-aide cure-all, "all is well no", smoke-screen! I say "buh-buh Buy Fools", stocks now that is, while GS will turn-on their high-frequency black-boxes and fleece the meet off your bones, while they "do what they don't say", just like CDS's and CDO! Shame no-one from HQ hasn't hung from a gallows pole for "crimes against humanity", a la 2008! System build on sand will crumble!
Yeah, any casual look at the charts, could see this "gap-filling coming" (GFI went way-high, way-fast, making sizeable gaps, especially at the low $4.26-31 level); Plus, now GS is exhorting folks to short-gold, in order for them to reach their $1,000 target they predicted earlier. My take, it's a big-scare fest, b/c there's every reason for gold to hold value going forward, and these thieves want to buy low-low, while they tell you to sell-and-short. GS is one of the most corrupt entities on Earth, and Loyd Blanfkien should be doing time in prison right now, not still at the helm, with his wrist slapped for "double-dealing" and causing the American Tax-Payers trillions in bail-out cost. It's a huge scam, and this idea that "all is well now in the broad Economy" is a giant hoax, all predicated on the Fed's $4-trillion-dollar ante-up. What will happen when the Fed isn't giving-away free chips anymore, to the shady bank-players sitting around the table?
The scourge of Capitalism is what you see playing-out before you eyes! Take people's homes away from them, let the banks steal-them, yet give the banks and Wall-Street executives "trillions" of tax-payer money, let them park their "free-money-chips" at the Fed and get free interest, don't make them loan-out any of that money, and then take-away any safe-haven of interest bearing accounts, and "force" hard-earned savings into the Market, call the US-dollar king, diss gold, and have the Market at record highs! Sounds like a recipe for huge disaster! Sounds like massive fraud that will have to be accounted for in some form and fashion. Gold is one of the last assets I'd let-go with this backdrop! Not saying the program traders and black-boxes h-bent on shoring her into the ground, can't take it way-way low, but "just saying", I wouldn't be buying the ferry-tale being told!
Welcome! This was always "over-punished" imo. Some big options players, wanted to send-it-in-the-toilet last Fall, and thus it fell...and there was even a similar, though quite opposite, big-options call purchase, before the last-quarter's good report, that presaged this good upward movement to come. Simply put, GFI has been mis-priced, based on being a "totally different Co. minus Sibayne's South African mines", and the naysayers betting that it couldn't effectively be re-organized into a lean-mean, producing machine, and the pundits insisted that the core-Co. GFI couldn't/wouldn't retain that old Gold Field's luster, as one of the largest top-ten mines in the world. Yet, it's a bit of a different strategy all-around, and kudos to Nick for getting the job done with re-organization, so the labor-prone mines are no longer a monkey-on-our-back, and the new Australian mines are on-track to deliver some nice production gains, especially with new, modernization techniques being studied and set to be implemented. I've followed this girls, from $12 to $2.90, and earnings have never been "all that bad", compared with the huge-huge right-down of the biggies, such as ABX and GG. GFI should have been a $5.00 stock last quarter, imo, but people are getting wise to it mis-pricing, and imo; Also, imo, "gold" is the place to be in our current world environment, from geopolitical concerns, to QE-question marks that haven't even begun to be resolved.
GLTU and GLTUA! eom!