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Gold pops.

Gold opened the week on an uptick to a new all-time high. The dollar index continues to bottom-bounce near 75.



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http://www.321gold.com/ed...

http://www.321gold.com/editorials/russell/russell111709.html

A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.

A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.

November 19, 2009 Jim

November 19, 2009
Jim Willie, The Golden Jackass

The rise in gold pre-sages a currency collapse, led by the USDollar. Gold vaults at commodity exchanges in New York and especially London are being drained by delivery demands. Gold demand is skyrocketing, as distrust for the USDollar is broadening and revolt against the US$ is deepening. The quintessential finance war is between the United States and China, with the battlefield being the US$ and Gold. The race over the $1000 price level came in the face of mammoth shorting by the same Usual Suspects on Wall Street, which do so with paper, but without the required collateral. The gold market is poised for a surprise upward move from a basic broken condition, as the Powerz are losing control. It would be a joy to watch except for the extreme hardship due to come to the betrayed American people.

http://stevequayle.com/News.alert/09_Money/091119.gold.marke...

A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.

A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.

SteveMT's picture

gold $1,145.60; silver $18.54; platinum $1,440.90.

Asian markets down some, but the metals continue to weather the storm. Add one unforeseen event and the flight to precious metals will become a feeding frenzy without end.

Metal Bid Ask
Gold $1,145.60 $1,146.60 up $4.70
Silver $18.54 $18.59 up $0.11
Platinum $1,440.90 $1,450.90 up $5.00
Palladium $365.90 $370.90 ($1.10)

Updated:11/20/2009 12:34:35 AM CST

lets keep this thread alive

lets keep this thread alive shall we....$1145.30

Gold is dead

California "pre-ban" Berkeys are the next bull market.

lol isn't that a joke?

lol isn't that a joke? arnold is a dumb sob...

A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.

A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.

1144.30...

1144.30...

~~
Teach a man to fish and you feed him for the rest of his life.
Teach a man to phish and he'll clean out your bank account.
~~

$1142...Woohooo

and climbing!

$1140

$1140

SteveMT's picture

silver up: $.93; platinum up $64; gold up $21.30

Metal Bid Ask
Gold $1,137.00 $1,138.00 up $21.30
Silver $18.29 $18.34 up $0.93
Platinum $1,445.00 $1,455.00 up $64.30
Palladium $373.20 $378.20 up $19.40

Updated:11/16/2009 12:11:42 PM CST

1137.60...

1137.60...

~~
Teach a man to fish and you feed him for the rest of his life.
Teach a man to phish and he'll clean out your bank account.
~~

swedish banks and debt

Hej Swede,

I recall how the Swedes worked through their banking crisis in the early 1990's. With the current loans to the baltics and eastern europe causing distress, another workout may be needed.
How do you think it will work this time for Swedish banks?

Tack så mycket

We will likely soon have a real estate crises here in Sweden

No wonder prices are spiking after they lowered the interest to historic lows...
Higher interest soon and higher unemployment is setting it up for a repeat event..
Banks are making record profits after bailout money...
Would not surprise me if they need more money next year...
Memory is short.

/Mike

Front Fell Off
http://www.youtube.com/watch?v=WcU4t6zRAKg

The Measuring Device used to measure Gold's Value is Broken.

For years Gold and everything else could be measured in dollars because the dollar had a set value which originally was 371.25 grains of Silver. { 480 grains in an ounce }

20 of these valuable Silver dollars equaled 1 ounce of Gold in value.
Product prices and wages stayed in balance for 160 years, under this sound money system.

Later,{ 1933 } when the Fed had distorted the dollar value further, Roosevelt declared that Gold would be valued at $35 dollars to the ounce, causing a run on Silver that is still going on, in my opinion.

This current surge in the price of Gold is pointing out that the value of a federal reserve I.O.U. note with a 1 on it is losing value at a rapid pace.
It is currently worth approximately one 1133th of an ounce of Gold, whereas the original dollar was worth one 20th of an ounce of Gold.

It also explains why Fed insiders are getting million dollar bonuses while common folks are struggling with bills.
The Fed has totally distorted the "Value" of the dollar!

End the Fed ! And push for passage of Ron Paul's repeal of legal tender laws bill which would eventually save the American monetary system, as sound honest money would replace the failing FRN.

beesting

That's what the KGX is for.

It tracks gold in the same basket of currencies as the Dollar Index.

Truly, a dollar is still a dollar. What people are speaking of when they say "dollars" are really Federal Reserve Notes.

The "Dollar" is a coin containing 371 1/4 grains of .999 fine silver. It is a very stable currency and monetary unit.

See kitco.com for the true path of gold versus other currencies, correcting for the slides in the FRN or if the movement was really about true market buying and selling.

Am I Missing Something ?

Where is the current physical Silver stored that you claim backs the U.S. dollar?

Or is paper Silver used in your example?

beesting

Yes, you are..

...he's telling you how it used to be, not how it is now. Back when they were United States Treasury Notes, and not FRNs.

somewhat

I will gently point out how this statement opens up an attack by people who don't want sound money:
Product prices and wages stayed in balance for 160 years, under this sound money system.

There were booms and busts before the Federal Reserve. When huge strikes of gold/silver were discovered, there was inflation with higher prices.
When banks extended too much credit, there were subsequent busts.

I firmly believe in sound money and carry and spend silver eagles. Exaggerating the benefits of sound money will open the door to attacks by the opposition.

Hi riverrun, I agree with you.

But if you have any of those charts from long ago please figure out the percentages of up swings and down swings in those days, to be able to compare the Great depression and today to then.

I feel the booms and busts from that day were nothing compared to the booms and busts of the days of the current Fed//IMF regulated banking systems, however those people that benefit from an unstable federal reserve note's value will always grasp at straws to discourage the general public from using any type of ""CONSTITUTIONAL"" money !

P.S. the personal income tax was implemented only in 1942, and the USA prospered immensely without it, before it was implemented!

Ron Paul is My President !

beesting

Now $1136.70

Keeps going up!

And someone on CNBC is talking about returning to the gold standard.

Unprompted and not Dr. Ron Paul! Unbelievable!

History does not long entrust the care of freedom to the weak or the timid.
Dwight D. Eisenhower

Brand new record

$1135.80 they said on CNBC

History does not long entrust the care of freedom to the weak or the timid.
Dwight D. Eisenhower

SteveMT's picture

Gold Advances to Record as Investors Seek Dollar ‘Insurance’

By Millie Munshi and Nicholas Larkin

Nov. 16 (Bloomberg) -- Gold prices jumped to a record for the fourth time in six sessions as investors purchased the precious metal as an alternative to a slumping dollar.

The U.S. Dollar Index, a six-currency gauge of the greenback’s strength, fell as much as 0.6 percent today, extending this year’s losses to 7.8 percent. Before today, gold jumped 26 percent in 2009 as the lowest interest rates ever, coupled with increased government spending, sent the dollar to a 15-month low on Nov. 11.

“People want to own gold now because gold is the ultimate currency,” said Gijsbert Groenewegen, a partner at Gold Arrow Capital Management in New York. “It’s clear that with such low interest rates, the dollar is being allowed to weaken, and there’s no incentive to hold it. There’s an increasing awareness among investors that they should hold some insurance against the lower currency.”

More:

http://www.bloomberg.com/apps/news?pid=20602081&sid=aRAMOumh...

Goldseek an "attack site"?

I went to check out that article again from last week that talked about tungsten being used to counterfeit gold bars and was awarded a scary looking red screen that said the site had been labeled an "attack site" that installed trojan viruses. Has anyone else seen this as well? Is someone trying to keep us from learning something?

http://news.goldseek.com/GoldSeek/1258049769.php

SteveMT's picture

Khomar: I see that warning also

Searches that I've done reveal no new updates....nothing since the initial report from 11/13.

Silence.

That's the problem with

That's the problem with today's environment -- what do you say to that? Is it silence because it is not true, or is it silence because it is being suppressed? Is there any way to really know?

silver finally showing some

silver finally showing some strength... I would not be surprised to see the metals get whacked sometime in the future..

A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.

A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.

and just like that, silver

and just like that, silver catches up and breaks out...$18.17

glad i picked up a couple more ounces of silver about 2 weeks ago during the price stall....$20 is the next target, get your silver up before we blast through $20 and never look back.

SteveMT's picture

gold: 1,132.90: silver $18.17

Say good-bye to buying anything.

Metal Bid Ask
Gold $1,132.90 $1,133.90 up $17.20
Silver $18.17 $18.22 up $0.82
Platinum $1,426.00 $1,436.00 up $45.30
Palladium $367.90 $372.90 up $14.20

Updated:11/16/2009 9:13:03 AM CST

SteveMT's picture

All metal popping up: platinum up $40;paul-adium up $10+

No stopping now. Silver up also.

Metal Bid Ask
Gold $1,129.50 $1,130.50 up $13.80
Silver $17.88 $17.93 up $0.52
Platinum $1,421.30 $1,431.30 up $40.60
Palladium $364.10 $369.10 up $10.40

Updated:11/16/2009 8:55:22 AM CST

Testing gold

Is there a process for testing coins or bars for purity?