Get ready for a major move up. This will be what we are all waiting for!
Reason for this call is on Kitco chart this: 4/17/14. More Downside Pressure For Gold, Substantial Rally Nearby: Gary Wagner
Thu, 04/17/2014 - 11:57 | 4669724Pladizow
An Israeli doctor says: "In Israel, medicine is so advanced that we cut off a man's testicles, put them onanother man and in 6 weeks, he is looking for work". The German doctor says: "that's nothing, in Germany we take part of a brain, put it in another man, and in 4 weeks he is looking for work".
The Russian doctor says: "gentlemen, we take half a heart from a man, put it in another's chest and in 2 weeks he is looking for work".
The United States doctor laughs: "You all are behind us. Five years ago, we took a man with no brains, no heart and no balls and made him President. Now, the whole country is looking for work!"
Read the comments/posts on Zero hedge. They think like we do. Keeps me firm in my positions and to keep stacking.
A Step Back
The U.S. dollar continued to drag lower overnight after Yellen comments about leaving rates low for a long time… Not sure what was new about her accommodative stance but it was enough to hit the U.S. dollar and help risky assets. Nothing to declare overnight except the deterioration of the Ukraine/Russia situation. Three dead among Pro-Russian camp, the worst in 10 days. Ukrainian, Russian and Western diplomats are all meeting over the weekend to try to resolve the current situation. From what I have read, there isn’t much hope, especially after today’s Putin TV conference. I doubt this will end well. I will again mention that I am astounded by the Euro’s strength knowing there is a potential civil war occurring in their backyard. Today anything goes. Low liquidity will be an issue after London’s close for the long weekend. I would also find it hard to stay long on risky assets over the weekend with the Ukraine situation in mind. I think we will be consolidating the last few days gains in stocks, and it should also leave a permanent bid in precious metals.
By Hugo Murphy
All I can say is that the USA is the bully and the rest of the world is sick and tired of it. Times are a changing. China is going to eat the USA for breakfast, lunch, and dinner. Got gold and silver? If not, better get some.
June-July this year. Petrol gold or just trade in other currency's other than the $USD. It's already starting to happen. Once the system is in place, it's over IMO.
The brick nations will stop buying our debt because they do not what to fund another war. The USA has lost all credibility IMO. Great Depression 2.0 in 3....2.....1...... How do you see it any other way?
Without food stamps the US economy would already be tanking. We just loaned Ukraine 1 billion dollars to pay back nat. gas bill. They still owe another 1 billion. We will never see that money ever repaid.
Ukraine is a money pit! Even the EU can't say or do anything about it. The USA looks like a idiot to the rest of the world. Putin is a much better chess player than the USA.
I can wait. It will give me more time to keep stacking. IMO, petrol dollar is history. Just a matter of time.
TGR: You've agreed with Jim Rickards that attempts by the U.S. to "get tough" with Russia will fail. Can you explain why?
JT: Russia has its own interests to protect, but so does Europe. I'm not so sure that the Europeans will necessarily side with the United States. There could be a real crack in the NATO alliance. The Germans need natural gas, and the Russians have it. I see that the French helping Russia increase its gas and oil production through fracking. Many German companies are very much involved in Russia, as well.
TGR: You've talked about the petrodollar being replaced by "petrogold."
JT: An enormous amount of gold is flowing into China. And China has established a second gold exchange that will allow non-Chinese to buy and sell it. Not paper gold, which is fantasy gold, but real, physical gold. The gold price is being manipulated by the futures markets, by the very people we were just talking about, the bankers, the bullion guys, the people that really can't afford to lose the dollar confidence game.
The Chinese want no part of this. They have enough dollars and don't want more. Moreover, they don't want to finance America's military-industrial offensive, which is paid for by dollar manipulation.
TGR: How would petrogold work in practice?
JT: Russia would provide China with much of its energy needs and would be paid in renminbi. The Russians would then take their renminbi to the Chinese exchange and get gold for it, if they so desire. I think the infrastructure is being set up, both with petroleum exchanges and gold exchanges, in Russia and China and other countries in Asia.
We would have a much more balanced world right now if Nixon hadn't taken us off the gold standard. That allowed the elite and the military-industrial complex to pull the whole of the world into the American orbit and saddle them with American debt and American power.
Now there's blowback against American power, the currency wars and the U.S. dollar as reserve currency. Russia and China and other countries are saying, "enough already."
A post from a Zero hedge comment
Sat, 04/12/2014 - 15:00 | 4651566TruthInSunshine
Stocks are overvalued by 25% to 3,000% and consumers are now massive debt slaves "buying" a monthly payment on cars, houses, etc., while dealing with pernicious inflation and declining real wages by leveraging up on even more debt than in 2007 (where at least structural unemployment/underemployment/understatement wasn't yet a crisis).
Get ready for the real crash.
I say forget about NUGT, GDX, GDXJ, SIL, GLD, SLV. Don't sell, don't buy, hold! buy physical gold or buy physical silver.