Summer Heats Up

And it has only just begun...

243 Comments

Dolomite's picture

High Hopes...

My bride and I just watched High Society a few days back... too funny.

My only FIRST :-)  But will be steadfast in my High Hopes for silver gains smiley

It's a great evevning at Casa Dolomite.

NW VIEW's picture

Percival

That was cute

reefman's picture

Both silver and gold are

Both silver and gold are cooking nicely right about now. Let's hope for a breakout since gold at least is pushing up against some resistance now. 

reefman's picture

I'd like to see gold take out

I'd like to see gold take out $1620. 

ReachWest's picture

Turdville Citizenry?

Wow - nice video. Are those kids from Turdville Elementary School?

Now, I'll be humming that song all night - dammit.  Anyway - We all have high hopes that the EE will be exposed for their horrific shenanigans and real money will be allowed to trade freely.

Here's the latest RNN Cartoon newscast. Today we talk predominantly about MENA and it's affects on Oil and PM's. Millie Winger drops in to give a preview of an upcoming interview with JPM's Head of Global Commodities (What's her name?).

@Turd: Thanks for the mention yesterday of our cartoon on USAWatchdog.com. Fun to be recognized.

Cobalt Silver's picture

Mes Amie du Cafe

"This is 'the phony war' phase of the ongoing currency war. I suspect we might see some serious fireworks in September-October for a number of reasons that I do not care to go into at this time."

Jesse hinting at impending volatility?  You ever walk into a meeting on time and everyone is already there with a Cheshire grin plastered on their face?

 

cliff 567's picture

A trick of the mind..

Cobalt Silver

Do you realize that every member of Skull & Bones is gifted a clock that always reads five minutes slow? They are always ahead of the pack.
 
I am sure the giggles were because he was the only dupe in the room.
Beastly Stack's picture

Good Call

High Hopes that will some day unfortunately come true!

Enjoy your day tomorrow TF

ivars's picture

GSR continuing steadily to

GSR continuing steadily to stray away from/break  long term uptrend support. Looks like breakout may happen soon..below 55. Soon may mean at least 3 weeks. Or we can get head and shoulder, meaning even longer reversal.

Excalibur's picture

RNN

Reach West, cool to see your productions appearing on other sites. Must be fun for you and I got a vicarious sense of pride - as I will when Turd is on CNN explaining how he had seen it all coming (after they awkwardly ask him about his name). 

And heres a piece from Ben Davies' stable. Negative real interest rate is what makes me totally relax about the ultimate direction of gold.

Furthermore, gold is strongly underperforming relative to the rule of thumb provided by Gibson’s Paradox.

Source: Variant Perception

The rule states that for every percentage point the real interest is below 2%, gold returns 8% year-on-year times that multiple.  Real rates are currently -1.45%, which implies a 28% performance for gold over the next year.

http://www.hindecapital.com/blog/gold-poised-for-upside-breakout-of-current-range/

lodmund's picture

imminent raid

looks and feels like about feb 27th 2012 to me, i'm braced for a serious raid over the next few days

Katie Rose's picture

SRSrocco

I always give you a hat tip in appreciation for the fabulous information you impart.

HOWEVER

Your remark about "goat milk enemas" in the last thread cost you a hat tip. From me at least.

I guarantee, if you ever had raw, chilled, Nubian Goat's milk, you would not waste it on an enema. Ever. wink

thurd aye's picture

Rats jumping off the sinking ship

Haven't heard this before.

Vg

and this( i think it is part2 of the other one)

also vg.   http://www.youtube.com/watch?feature=endscreen&v=7qUECn0BUoc&NR=1

maravich44's picture

for Turd,

....

gdog's picture

First post here...  

First post here...   Bullish...devil

ratioarbitrage's picture

China gets MOPE, understands gold bashing

The following sentence referenced from this Communist Party report dated 1st August is very interesting. It was kindly posted here by another Turdite (sorry, I have lost the post).

The Google translation is not very good (any improvements from Chinese speakers welcomed) but the implication is that they get it. MOPE is a lie, gold bashing is a lie, US hegemony via USD reserve status is what it was always about. I had a go at parsing it in Mandarin and it is not as vague as it looks. Later in the report they make more explicit their aim of ensuring that the population has private gold (stating that 5g per person is pitiful), as well as their absolutely rapacious desire to increase the quantity of central government gold by any means possible. There is a rather non-Chinese sense of urgency. A good read despite Google.

http://www.qstheory.cn/zxdk/2012/201215/201207/t20120727_172665.htm

目前,有越来越多的人认识到,“黄金无用论”包含着太多的谎言,其实是拥有全球74%官方黄金储备的美国,为打压其他货币从而维持美元霸权地位设计的一场“烟雾”。

Currently, there are more and more people recognize the "golden useless contains too many lies, in fact, have 74% of the world official gold reserves, the United States, to suppress the other currencies in order to maintain dollar hegemony design a"smoke."

uki's picture

GSR

@Ivars: I am not sure if you've seen the weekly forecasts for GSR from Commerzbank (as the link is 3 lines long I don't paste it here, type bullion weekly to find them). They are somehow über-bullish about GSR perspectives and show the trendline a bit lower than your charts. This leaves space for some more consolidation between 56.5 and 57 and then bounce higher targeting 60-61.

Byzantium's picture

Latest on EuroGold

For the second day running, Eurogold looks like it wants to break away from the 1,300 cap. Remember, the highest ever Eurogold price was an intraday price of 1345, last summer. We can probably expect cartel or market action, to stop it reaching 1310.

What is interesting, is to compare today's dollar price action to the euro price action.

from   http://www.goldprice.org/gold-silver-ratio.html

What looks like a mini retracement / smackdown in the dollar price, is regardless a mini spike up in the Euro price.

Mindful that this is likely normal market action, it is also hard to imagine that the flying monkeys are not monitoring the POG in all major currencies. 

LongGoldLongSilver's picture

Sydney, anyone?

Anyone going to the Gold Symposium in Sydney in October? Haven't been but contemplating going this year. Last year saw some pretty solid speakers and Egon von Greuyerz will be there this year. http://www.gold.symposium.net.au/

http://www.miningstockvaluator.com

jui567's picture

@Turd

Do you think that Jesse is referring to the same thing (cause for fireworks) when he writes: "I suspect we might see some serious fireworks in September-October for a number of reasons that I do not care to go into at this time." Also, are you in agreement with him regarding the timing of this thing (not in the summer, but in September-October). Many thanks.

XianRen's picture

QiuShi translation

"目前,有越来越多的人认识到,“黄金无用论”包含着太多的谎言,其实是拥有全球74%官方黄金储备的美国,为打压其他货币从而维持美元霸权地位设计的一场“烟雾”。"

Translate (bear with my grammar): Currently, more and more people have realized this "Gold Is Useless" theory is very misleading, and in fact merely a piece of disinformation cooked by US government (which controls 74% global sovereign gold reserve) to maintain US Dollar's monopoly over other currencies.

I think the author overestimates EE's arsenal in that "74%" statement, still "QiuShi" is no average magazine here. "QiuShi" in Chinese means "seeking truth". They are basically the spokesman magazine for the ruling party. When they come out saying things, they are setting an official, strategic tone. 

boatman's picture

just caught a snippit on bloomberg/ tom keane

head BNP Paribas econ man says 'opened ended employment number targeted QEX' will be hinted at at jackson hole by benny..........aug 31.

Lamenting Laverne's picture

@ Sandbox - re earlier comment

I would be very interested to hear what you lean in class today about the electrical failure cited in the Alaskan plane article.

Be Prepared's picture

The Low Junp...

Be Prepared's picture

America's New Rocket Program...

Be Prepared's picture

No Suppression Here...

Bollocks's picture

Did someone say raid...?

RAID !!!

Be Prepared's picture

The Real Olympic Shot Put...

cavalier's picture

Hedge Funds Short Platinum to bet on falling Euro

Hedge funds are betting that platinum will decline as a way to play the euro falling.

Since platinum is used mainly to scrub pollutants from diesel cars and europe makes the most of them, this is viewed as another way to play the declining euro. These short postions are a large part of the platinum market. Many miners are losing money because of the lower prices and may have to scale back production.

Ernie Pantusso's picture

Berkshire Hathaway said its

Berkshire Hathaway said its cash pile had grown to $40bn.

W. Buffet said “ to be seeking to find uses for the cash.”

http://www.ft.com/cms/s/0/76ba9728-ddb2-11e1-8be2-00144feab49a.html#axzz2339HmT5w

If we consider the 1bn theory (buyable silver above ground = ca. 1 billion oz), with just Berkshire Hathaway‘s cash he could buy the entire buyable silver stock on the planet.

Fucking unbelievable.

Cash parked at negative rates by the way

What will happen when these subjects will begin to touch the silver market

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