Gold just broke through $2,100 per ounce, surpassing its all-time high. This has happened while interest rates are still near multi-year highs and the USD is still near multi-year highs. Gold has normally risen when the USD falls and interest rates are cut.
Something is happening behind the scenes. The stock market is also near all-time highs. This sure seems like a blow-off top. The powers that be surely want to knock gold back, because skyrocketing gold prices let the plebs know they are losing control. It is all about the appearance of being in control. We shall see whether they can continue to fool the masses.
After 3 years of consolidation and 3 previous attempts to reach $2,100 per oz, gold is now launching above $2,100+ to a new all time record high.
🔥🔥🔥 pic.twitter.com/rMHacJWi58
— Wall Street Silver (@WallStreetSilv) December 3, 2023
* Emergency FOMC Meeting in Progress *
Waller: You seen the gold price?
Powell: Williams, can’t you guys just dump 3000 tons in the futures market tonight? It’s not like we have to own the gold.
Williams: We’re on it sir.
Daly: [Quietly chanting]
Kashkari: Anybody want food?
— Rudy Havenstein, Senior Markets Commentator. (@RudyHavenstein) December 4, 2023
ICYMI: Behind The Mysterious Explosion In Gold Prices: China’s “Massive Accumulation Of Gold”https://t.co/6Yg2HPmMwf
— zerohedge (@zerohedge) December 3, 2023
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If the price holds, 2023 will show gold up 12% for the year. I would not be surprised if 2024 has another 12% increase. GOT GOLD?
POP QUIZ: What will be the new name for gold in 2024??
UNobtanium
Ding, Ding, Ding, Ding…..Winner, winner chicken dinner!
For YOU…maybe. Every prospector in the world is laughing their fucking asses off right now…and I’M one of them!
Silver is still affordable but won’t be for too much longer.
Indeed, 20:1?
Fuck the borg
As I type we are around 81:1. Silver would be $131 at the supposed traditional 16:1 ratio.
Gold is at a new nominal Dollar high while Silver is around half of its all time high.
And that was in 1980 dollars for silver- today’s equivalent would place that at $600-650/ounce.
Q: Where have I heard that before?
A: Every day for the last 40 years as its price went sideways
Sorry about that… held for about 12 hours. But keep on stackin’!
Just look around. The shit has hit the fan. WWIII has started with a couple of big punch ups and a bunch of brushfires and Venezuela voting on whether to invade and seize 2/3 of Guyana. There haven’t really been any wars in South America for decades. Just civil war type garbage. However if you look into the Chaco Wars of the 1930’s you will see South America could be a real shitstorm. Gold is the answer. It’s money everywhere whether you have a country any more or not.
FWIW you need way bigger moves in the USD usually to get the upside we are seeing. Central banks are buying like crazy. Probably because Uncle Sam’s paper is turned to shit right before your eyes. Paper from a country that cannot enforce its borders or its “writ” (Monroe Doctrine) is a joke. FJB.
This too:
Harry, the USD is starting to turn a glowing red color from fiat flame out. It is seriously some worthless toilet paper at this point.
I noticed the MSM trying to blame the gold spike on the India rupee going into the shitter, not hardly, that’s cover for don’t let the proles figure out food is going to spike 100% going forward.
Don’t cry for us Argentina, we are about to join the 350% inflation hike club, and those poor schmoes were hoping the USD would save them. We can’t save ourselves short of a currency reset.
All true. A currency reset of ending the FED and returning to the Currency Act of 1792 would work. Anything that leaves the Ivy League Shitheads in charge of a Federal Reserve fiat regime is a nonstarter.
Soon everyone will be calling him Weimar Joe. FJB and everyone else involved in this disaster.
Warroom is a must watch tomorrow. Bannon has called this whole mess down to the last detail over the past couple of years. The shit has officially hit the fan. We now live in the “post shit hitting the fan era” which coincides with the emergence of real James Bond Villains.
I will entertain suggestions from the floor on how we proceed.
Just went to buy some groceries…$420.00 doesn’t buy much!!!Wait till it takes $1200.00 to fill the same bags!!Maybe my fellow citizens will finally get mad then.
Argent-ina = “The Land of Silver”. How’s it working out for them?
I said in admin’s 50% Fall post that the Fed doesn’t have as much control over things as it thinks it does. Unless their goal is chaos, which could be the case. Those people are psychopaths so who knows what goes on in their pointy heads.
The FED should be completely ignored and have no role regarding a replacement. They are so vain that they believe a room full of overeducated idiots or Taleb’s IYI’s can better plan or front run the individual economic needs and moves of 330,000,000 people. They likely believe as regards fiat that “the right people haven’t tried it yet” and that speaking of themselves, “We are the people we have been waiting for.”
I’ve been saying here again and again, that the Fed can control almost anything (for the example the “bond market”), for as long as [a majority of] people still accept USD as “payment” for anything.
Rudy Havenstein’s ‘It’s not like we have to own the gold‘ states exactly the same in different words.
International chaos for the win! Brought to you by the Vermin running this asylum. As the carnival barker says, step right up folks, you haven’t seen anything yet! It is a fearful thing to fall into the hands of the living God. God WILL NOT be mocked!
Bankers despise chaos. It disrupts the revenue stream. They’ve lost what little control they had.
Soooo, we have COP28 demanding literally new 8-10X/yr. demand for Ag. Clif High sez $600 silver. Mebbe he’s right.
Cliff is high. At 20:1 that’s $12k gold.
One of the schemes discussed widely among metal people over the years is the revaluing of Gold to restore the Dollar. A 12K price point was calculated at the time to bring the value of the Dollar in relation to Gold that existed at Bretton Woods. Today, I don’t know if $12K would be high enough to do that. If one calculates the real number to get back to a Bretton Dollar/Gold ratio it would likely scare the crap out of them. LOL!
Or make them unimaginably wealthy.
Crap everywhere!!!
Gold is not a really practical investment but it is the world’s premier hedge. Silver is right in there but gold is king. Platinum, palladium, I’m too primitive to wrap my head around, they just look like silver. At 2k per Oz today gold is at least thirty percent cheaper in fiat than it was four or five years ago at 1900. Yay! Buy all you can get. Paper is senseless as it is really only fiat in golden clothing with a fine dose of counterparty risk to boot.
TPTB wanted to hold gold down, 2k was tolerable to them but TPTB have utterly fuqued the pup and the opening salvos of their standard last resort, world war, are upon us. Preps are in order, of all kinds. Better to have and not need than to need and not have.
Walter,
Gold has been the best investment since the start of this century.
Give up and buy some bitcoin. Stop being stubborn and buy some. You’re all missing out on the greatest investment opportunity since they started subdividing Manhattan. There’s still massive upside. How many times do we have to tell you??
You’re all missing out on the greatest investment opportunity since they started selling pieces of a bridge towards Manhattan.
FIFY
The Grid is down or the big cables are cut, or maybe Little Rocket Man just nuked the server farm. Your electric money goes “pfffft.”
Electric money supposedly gains its value from the tremendous amount of electricity required to solve some unique calculation. Like any of us give a flying whoopy what this otherwise useless calculation is?
If you have burned 30,000 gallons of gas in your car does that somehow make your car highly valuable?
And what are you going to do with a gold bar when you get nuked?
BTC’s value comes from the demand for it. The mining process is a way of ensuring an even playing field. Anyone can join the game and the rules are the same for everyone.
Anyway….. the runs are on the board for BTC and the potential for massive upside is staring you in the face. Why people wouldn’t put a couple of grand into BTC I just don’t understand. There is a genuine chance it will be a million bucks in the next 10 years, or sooner. The trend is there and it’s got history now. Adoption and interest grows every year.
It’s like you were a caveman and started collecting the heavy, shiny rocks from the river before anyone else. You can get in early with BTC. The mining won’t end until 2140
Silver stackers have been saying the same stuff as you since BTC was the same price as an ounce of silver. Silver has gone sideways and BTC is now $42k. The trend is there.
Stop being so stubborn and just buy some.
I wish I had got some buttcoin purely for speculation purposes, back in the day. But if I had, I would have also dumped all but a fraction of it by now and bought something real.
Everything else about it has turned out to be hype.
I just invented a 3D printer that prints cornbread. Ready for the A’Pockylips.
That didn’t take long. TPTB knocked gold down $66 overnight, to under $2,100. Rudy Havenstein’s satire wasn’t satire at all. Calls were made between the Fed and JP Morgan to correct the situation.
They could not hold it, at 6:40am it was at $2084.00.
It’s kinda like trying to hold down 3 balloons in water with 2 hands.
Yup. Huge reversal happening now.
It will work until it doesn’t..Then we will experience the return of the Gods of the Copybook Headings. Same as it ever was.
Silver: the most undervalued commodity on the planet.
Its general price range has remained constant over the last few years while the amount of currency created has exploded. Dollars have depreciated “Yugely” and silver’s price has remained within a constant range-WTF?
It is generally found in the earth’s crust and mined at about 7-10:1 over gold. Yet currently has a silver to gold price ratio of about 85:1-WTF?
Both “paper”(ETFs, etc) gold and silver have hundreds of paper ozs for every REAL physical oz. It’s suspected/widely accepted hundreds of people lay “paper” claim to each 1 oz of physical metals.
Exchange your green pieces of paper for PHYSICAL metal whenever you can.
I believe the terms for the multiple claims per oz.are hypothecation and rehypothecation.
Of all the metal etf’s the only one that has an ounce of metal on hand for every paper share they sell is Sprott. They also allow holders to take physical delivery of their etf shares. Redemptions are only in Good Delivery Bars meaning 400 ounce minimum to redeem in metal.
Next up: $2500 when the inverse head and shoulders pattern is completed.
Now down $87 from last night. JP Morgan gets an A+ from Powell.
The game was always rigged. There was never a time when is wasn’t rigged. Now God is going to show us a new thing under the sun. Brace yourselves.