The Golden Truth: BOOM Goes The Dynamite

Thursday, July 22, 2010

BOOM Goes The Dynamite

"I know that you don't need this gold at present. What you need is the justice which it represents, and the knowledge that there are men who care for justice" (Atlas Shrugged).

Which chart do you want to own? (click on each to enlarge)

As an aside: one of the most pathetic human beings I have ever observed, outside of Ben Bernanke, is Barney Frank.

15 comments:

HopiumThursday, 22 July, 2010
Funny no one asked the question as to why Obama and the other Trolls decided to sign that Piece of Toilet paper legislation yesterday at the Regan Memorial....Odd.

Any how Dave this puts to rest the troll that frequents here and his Dollar to the moon deflation call.

I snicker.
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Dave in DenverThursday, 22 July, 2010
the dollar bull is a source of entertainment. he always disappears when the dollar shits the bed. lol
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OllieThursday, 22 July, 2010
Waiting for the USD/CHF to bounce and then short it to the basements
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BillThursday, 22 July, 2010
Region of Malaysia Plans Gold-Backed Currency

http://www.economicpolicyjournal.com/2010/07/region-of-malaysia-plans-gold-backed.html
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AnonymousThursday, 22 July, 2010
HI Dave: OT question. Do you have an opinion on the silver miners ETF, SIL?
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AnonymousThursday, 22 July, 2010
Prechter reads this blog? Who knew.

Dude, I can't wait for the NFL season to start.
Could be the last one we see for a while.
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Dave in DenverThursday, 22 July, 2010
anonymous, i have not looked at SIL. I'm sure it's fine if you are looking to index a portfolio of silver stocks. I prefer my own research and stock selection. I like SLW, ECU, SDRG, HL, SRV and few others.
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Dave in DenverThursday, 22 July, 2010
Thanks for the link Bill. Malaysia has been threating a gold-backed dinar since like 2002 LOL. The guy who runs the country is an anti-western/anti-fiat hero in my view. I hope he does it.
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Dave in DenverThursday, 22 July, 2010
Agree Rodd. I can't believe the players would even think about striking. Of course, the shit head in the Oval Office would probably let them have extended unemployment bennies.

Broncos gonna surprise for the whole season this year...
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ACDCThursday, 22 July, 2010
http://www.telegraph.co.uk/finance/markets/7895242/Mystery-trader-buys-all-Europes-cocoa.html

"""
Most of these contracts are "options" or "futures" giving a trader the right to buy these commodities at a certain price at a certain time in the future. What made yesterday's trade so unusual was that the mystery buyer or buyers took physical delivery of the commodity.
"""

Someone/Somegroup bought 241,000 tonnes of cocoa. Annual world cocoa production: ~3 million tons (perhaps less this year after a weak harvest). Even so, that's buying ~ 1/12 of the annual world production.

Now can you imagine someone standing for delivery of 1/12 of the annual world production in silver at the Comex? Of course, the CFTC would start enforcing position limits in the blink of an eye.

The double standard here is that in the article they are speculating that the cocoa buyer may be trying to corner the market (with a 8.33% physical purchase of annual cocoa production). But the bullion banks in silver have a much greater paper short position when viewing their short position as a percentage of world annual silver production.
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AnonymousThursday, 22 July, 2010
Dear Dave,
Love u and all but why do you not jump all over the Corporate owned Repubs who are if anything much worse than B Frank.

PS Can you lose the silly AR quote, please!!
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EconomicDisconnectThursday, 22 July, 2010
I have been so sidetracked with work being done on the house I am missing all this!

I think both long term bond price targets are in the near future coupled with stock indices minimums. What a fiing joke.
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Dave in DenverThursday, 22 July, 2010
Hey gyc! the bond market is insane. who the fuck would buy a 10 yr bond yielding 2.94%? Negative real interest rate on your money for 10 years ROFLMAO...

Anonymous: there's no difference at all between Demos and Repubs...it just so happens that BF is in a position of power and he wields it in a very corrupt way. That homo should actually be in jail for as many male pages as he's sodomized.

If I'm right about the anti-Obama/Demo backlash coming in November, the Repubs will be back the batters box and I'll hurl plenty of fastballs at their heads LOL.

Yer gonna have to deal with AR quotes until I'm done reading AS lol. Sorry.
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EconomicDisconnectThursday, 22 July, 2010
The only way any of this makes sense is if it's all a joke. Occams razor says that is the best answer!
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TyroneThursday, 22 July, 2010
Bawnee Fwank...
Part I
Part II
Part III
Bonus

Cheers!
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Add comment

Why Gold?

Gold is the world's oldest currency. You exchange your fiat currency (dollars, euros, yen, yuan) into gold as an insurance policy against catastrophic Central Bank and Government policies which serve to destroy the value of fiat currencies and destroy democracy.

Gold can ONLY be considered an investment to the extent that it remains significantly and historically undervalued in relation to the fiat currencies against which its value is measured. Otherwise it remains the world's oldest currency and is completely free from the counterparty risk associated with currency by Government fiat (i.e. fiat currencies rely on a Government's "full faith and credit.")

Quote Of The Month Courtesy of "Jesse"

Unfortunately for Larry Summers, Ben Bernanke, and their friends at the BIS, they have not yet figured out how to print physical gold, silver, and other essential commodities, and the world is reaching the point where it might simply start ignoring the New York based markets with respect to essential commodities such as basic materials, oil, foodstuffs, and the like, as they become increasingly irrelevant, fraudulent, and Orwellian. And then where will the financial engineers be, except with no more excuses and no place to hide?

Here is the link to his entire commentary, well worth a read:

http://jessescrossroadscafe.blogspot.com/2010/07/gold-daily-chart-shock-and-awe-for.html

Great Quote From Jim Rogers On Govt CPI Reporting

JR: I mean, we have inflation now. If you go to the shop, whether it’s groceries, or education or insurance or health care, prices are going up for everything. The government lies about it in the US. Some countries lie, many countries don’t: Australia, China, India and Norway. Many countries don’t lie about it and acknowledge that we have inflation. Others lie about it, the UK and the US, but if you go shopping you know prices are up.

Q: Are you saying that the American Consumer Price Index (CPI) published by the US Bureau of Labor Statistics is a lie?

JR: In my opinion, yes, of course it is. Have you looked at it? They’ve changed their accounting several times in the past few decades. When housing was 20% to 25% of the CPI and housing was going up, they didn’t count it, saying rents weren’t going up, and then when home prices started going down, they counted it. It’s the same with many things. It’s staggering some of the tortuous reasoning that the BLS has used over the past 25 or 30 years. When the price of gasoline goes up, they say it’s not really going up because it’s better gasoline, better quality, therefore you’re getting more for your money. I mean, it’s endless, the stuff that they say and for some reason people sit there, although more and more people are catching on, and accept what the government says.

source: www.clusterstock.com

Quote of the Week

"The primary function of a Central Bank is to engage in the massive transfer of wealth from the middle class to the wealthy elite. The Federal Reserve was set up to do this with the blessing and support of Congress." - Dave in Denver

If you refuse to believe the above, please read "The Creature From Jekyll Island: A Second Look at the Federal Reserve" by G. Edward Griffin and then explain to me why the Senate voted down the Vitter Amendment and Congress refuses to pass a law requiring a full audit of the Fed, even though the Fed is using taxpayer-backed money to bailout Wall Street and Europe.