falling off a cliff!

[Cebu_4_2]

What is this all about? Print money and the value goes up, I don't get it.

[Son-of-Liberty]

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.

[gunDriller]

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.

[chad]

http://www.youtube.com/watch?v=mMDV3eISLPs

[Joe King]

What is this all about? Print money and the value goes up, I don't get it.If a lot of the fear-induced buying that's been going on that has run up and kept the price up slacks off due to those buyers perceptions of that fear being reduced, {for whatever reason that may be} and those selling are still offering, the price has to go down.
Remember, the masses still have confidence to at least some degree and actually want what the gov is doing, to work.
That's why "printing money" doesn't always equal a direct and opposite effect to PM prices.
It just depends on the masses perception of what that "printing" means.
Just give 'em time and be patient. They'll figure it out eventually. lol

[Son-of-Liberty]

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.

[chad]

$36 jpm options expiry. 60 days over $36 triggers the collpase of jpm. 6 days left. have to get it under $36.

[Cebu_4_2]

9:30, dead cat bounce?

[MNeagle]

$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.

[freespirit]

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...

[Gaillo]

DOW crashing too... off 350+ so far.

[Joe King]

Anything to do with this, perhaps?


The House Wednesday rejected a stopgap spending bill that would have put to rest fears of a government shutdown on Oct. 1. Some 182 Democrats were joined by 48 Republicans in opposing the measure, albeit for very different reasons. (http://www.christianpost.com/news/house-vote-increases-prospect-of-government-shutdown-56224/)


Oct 1st is pretty close.

[chad]

i believe it's september 30.

[mamboni]

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.;D

[madfranks]

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.

[Awoke]

You guys give Christians a bad name when you refer to Babylonian Bernanke as "The Protestant".

[chad]

Your're so calm and cool Chad. I'd be calm too if I found giant boulders laced with gold veins in my backyard.;D

ouch! my back hurts from hauling them! :D

[mamboni]

ouch! my back hurts from hauling them! :D

Go ahead, rub it in! I can take it!;D

[Joe King]

ouch! my back hurts from hauling them! :DI can help! I got a wheelbarrow. Three of 'em actually. lol

[vacuum]

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.

[Dogman]

I can help! I got a wheelbarrow. Three of 'em actually. lol I up you with a D10

[Sparky]

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.

[Neuro]

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!

[madfranks]

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.

[ximmy]

http://www.youtube.com/watch?v=mMDV3eISLPs
;D:D:p
I'm going in... Cover me Porkins... Porkins: Uh, I've got a problem here.


http://www.youtube.com/watch?
v=QHlp2vMyknQ