Gold Bear Market Baffles Believers Who Think Favorite Commodity Should Always Go Up and Up

Both gold and the entirely fake bitcoins have seen big drops this week.  The gold bear market worsens:  BREAKING NEWS: Gold Prices Hammered Below Key $1500 Psychological Level– What’s Happening? as gold falls $86 in just one day.  When gold goes up in terms of currencies, gold hoarders rejoice.  When, like all markets, it suddenly falls, these same people go insane with fury because in their minds, gold should go in only one direction: up.  This is true of speculators of all kinds.  Stock buyers suffer the same irrational delusion.

 

The present fall in gold prices baffles the ‘experts’ who advise gold buyers here in the US: Gold News, Gold Market, Mining Companies, Silver News | Kitco News:

 

Otherwise, the decline does not appear to be fueled by any major breaking news, observers said. In fact, the slide is coming on a day when U.S. economic data has been soft and equities are on the defensive.

 

“It’s a liquidation event,” said Frank Lesh, broker and futures analyst with FuturePath Trading. “The market is forcing people out.”

 

Several traders reported that sell stops have been triggered. These are pre-placed orders activated when certain chart points are hit, often to kick traders out of positions to limit losses or book a profit,

 

I love economic analysis like Mr. Lesh, saying, ‘I am wet and standing in the rain so it is stormy’.  Of course, when there are more sellers than buyers, bids drop!  Duh!  And people who are scared of losing previous rises in value, have automatic sell orders if the price drops.  Duh, again.  This is true in all markets since the dawn of trading.  When there is a long bull market, everyone is ready to run for the hills when the price begins to drop.

 

This accelerates the drops so they become collapses as everyone rushes to the market to dump whatever they have been holding.  This is why obvious bubbles are dangerous: they rise fast and thus, as everyone rushes for the exits, fall even faster.  Nothing created by humans can avoid this certainty.  All markets operate the same way, all the time.  This is why charts and graphs are so useful, it is easier to spot a saturated market this way.

 

In the case of any market, looking at the situation of the regular buyers pays off.  I was frankly astonished several years ago when I learned the #1 buyer of gold was..INDIA!  So, any astute or careful gold buyer would watch India like a hawk.  When the value of the rupee goes down due to inflation, this does not cause a gold rush, it causes the opposite due to less money available to buy gold.  This simple formula is ignored by US gold market ‘experts’ for some odd reason which amuses me.

 

Many a gold lover hated me when I pointed out this fact.  They just did not want to believe that gold operates this way, resentment that India determines gold markets pissed off people.  Oh well.  Tough titties.

 

Now here is today’s gold headline from Bloomberg:  The Scary Risks of Safety Bubble Up – Bloomberg

 

Things people perceive to be safe may not be as safe as they think. Any investment, if you push its price up too much, will have a lousy return…Gold prices have been weak for the past few months, but it is also part of the safety bubble. The math to prove this is fairly simple. The least efficient gold producers can currently produce an ounce of gold for about $800. The fact that gold now trades for about twice that cost shows there’s a lot of precautionary demand in the market. The fundamental value is $800, but people are buying it because they’re scared.

 

Yes, people are scared.  But the ‘scared people’ in the US market is a drop in the bucket compared to ‘scared people’ in India!  And since the rupee buys much less this year due to government money printing, far from being able to buy more gold, they can buy less and indeed, they want the price of gold to go down, not up!  This rupee-gold conversion isn’t to protect against inflation but for marriage dowries.  Hard to believe, no?  Ditto in the Muslim Gulf states and others.

 

Now, someone had to unload a lot of gold and this may have a role in the sudden plunge in value in just one day, a $80+ drop is big:  Bullion bloodbath: 125-ton sell-order sets gold price for plunge! overnight!  Gold, Silver, Gold Price, Silver Price, Gold Rate, Gold News | Kitco

 

“It appears that the significant selling pressure last Friday was amplified by a four million ounces (124.4 tons of gold) selling order, to be executed on Comex opening. This was clearly too much for a relatively empty market to handle, and the initial pressure resulted into waves of selling, which in turn attracted further selling all the way down,” Gerhard Schubert, Head of Precious Metals at Dubai-based Emirates NBD, wrote in his weekly report.

 

So, which country in the Middle East dumped their gold so they can convert it to ‘money’.  Note, please, that money is desired, not more gold.  Since gold has zero basis in the value of any currency these days, this hoard of gold was sitting there as an investment and now cash is needed so it is, like so many things, AUCTIONED OFF.  The buyers get to bid and the fewer bidders there are, the lower the price.  Seeing the base price fall, all other holders suddenly want to dump, too.

 

This is because in all commodity markets, there can be a very far bottom to fall.  You never know but historically, the longer the bull market, the higher the bull market, the deeper the fall and the longer the recovery.   Nixon cut the gold standard in 1972 and by 1980, it rose to $615 an ounce.  By 2001, it fell to $271.  This is a tremendous loss for anyone who bought at the top of the bubble.  It has shot up again but the peak was last year.  If history is any guide and it usually is, the fall will be at least 10 years.

 

From November 2012:  Gold “Being Liquidated for Cash” as Stock Markets Fall Ahead of Fiscal Cliff Negotiations

 

“Gold is being seen increasingly as a source of cash,” says Simon Weeks, head of precious metals at bullion bank Scotia Mocatta.

“Liquidation of gold can cover losses elsewhere.”

 

HAHAHA, pretending gold is cash!  Liquidation of anything has the exact same result.  That is, when markets fall, people who held gold bought at lower prices earlier turn around and sell these again due to fears the bear market will continue.  So they pick up their profits and flee.  Typical of any market of any sort, any era.  Unlike say, housing, gold does pretty much nothing for the holders who bought as an investment.  You can’t eat it.  You can’t sleep on it unless you like something very hard and cold.  As Midas found out, you can’t do much of anything with it except convert it into something else by trading it.

 

Gold is simply an ancient icon for international trade.  And it shows ‘wealth’ by making it into crowns or other icons of rule so these can’t be counterfeited by usurpers.  And it is pretty because it shines.  It can also be used in other ways but when gold shoots up in price, these other uses vanish due to being uneconomical.  Anyways, the gold bear market had ZERO to do with the fiscal cliff negotiations.

 

Indeed, it should have SHOT UP, not down!  The explanation set up by the writer of the article above is bogus.  There is zero cause and effect  here.  What the writer is doing is magic: ascribing an event to something totally unrelated to ‘explain’ things to followers who are gullible.

 

Now back to that huge tech geeky scam, the Bitcoin con game:  How to Get Rich on Bitcoin, By a System Administrator Who’s Secretly Growing Them On His School’s Computers | Motherboard

 

What type of software do you use to make Bitcoins?

 

To get or receive a payment you have to have the Bitcoin application running, or you could subscribe to a service that could have the application running for you. Basically Bitcoin relies on cryptography, so it’s a mathematical problem that can only go one way. I send money to you, both of our addresses are attached to the Bitcoin and randomized to keep things anonymous, and I can’t spend that Bitcoin again, because when I send the transaction, it goes out to all nodes on the network and they’ll all know that I’ve already spent that Bitcoin.

 

Then the transaction records between customer and merchant get added to a long transaction register which then goes on to become a “block.” And that’s where the mining comes in, which is how you make the actual Bitcoins. Mining is essentially a brute force hack. When you’re making Bitcoins, you’re “solving” the block. The block is a long transaction register of Bitcoins. They are all put through this mathematical equation that can only be solved one way. The only way to solve it is basically to hack it

 

Now who makes the block equations?

 

The users do. Every time a transaction is done it adds to the end of the block.

 

So trading Bitcoins creates more Bitcoins?

 

Not quite. Solving blocks creates more Bitcoins. Trading Bitcoins creates more blocks.

 

What does a user have to do to actually install the software and what happens after it’s installed?

 

I actually realized that I left out a very key point. You can download the official Bitcoin software and just click a little check box that says “generate coins.” From there your computer will try and solve a block. And if it solves the whole block, you get 50 Bitcoins. But, depending on the speed of your computer, it might take you a year or longer to solve a block. There is a service called “pooled mining,” which splits up a bunch of these problems into little tiny problems and then everyone in the mining pool splits the reward based on how much they helped.

Basically, the libertarian geeks are lying about bitcoins being free of someone spying.  It is totally being run via tracking who is who.  The coding protecting names is…breakable.  And will be broken by the government if this fraud gets too dangerous for the public.  Just like Madoff tried to hide things on his computer, this can be pried open.

 

The ‘official software’ is handed out and people with powerful computers (Goldman Sachs is laughing here) can ‘mine’ these fake coins by solving math riddles.  The ‘splitting the pool’ is funny talk for ‘Ponzi pyramid scheme’.  This waste of time uses up lots of computers especially say, at universities and other places where they are supposed to work for other things.  Then, the operator’s share the loot made from selling these stupid things to other dumb people.

 

So at the top of the pyramid is all the multimillionaire computer geeks like the Winklevoss twins, and financial foolery.  They spent virtually no capital to create this ‘game’ which was then handed downwards to others with them, at the top, getting a cut.  As this spread out, the money pouring in grew as people were told about great riches to be won by playing this game.  So they were then telling each other with great encouragement by the guys at the top of the Ponzi game, that this is BETTER THAN MONEY.  And it grew, too, all you had to do was ‘mine’ it by using computers and then finding fools to buy into the dream world.

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54 Comments

Filed under .money matters, gold

54 responses to “Gold Bear Market Baffles Believers Who Think Favorite Commodity Should Always Go Up and Up

  1. Jim R

    Things that are alike
    1. Mortgaged home prices
    2. Beanie Babies
    3. Gold
    4. Bitcoins
    5. Telecom stocks
    6. Railroad stocks
    7. Tulip bulbs
    8. South Sea shares

    They all do the market dance. Fear and greed, Elaine, fear and greed. If you can transcend those emotions, you may not get rich, but you can survive.

    My guess is that the US$ market will be quite volatile over the next few years as well..

  2. Jim R

    Of course, with all that said, gold has been a traditional store of wealth for millennia. And a target for thieves of all stripes.

  3. Just Ice

    If the Rupee determines the price of gold, and governments always have an interest in controlling the value of their own currency as well as others, . . . doesn’t that still mean that the gold market is controlled by governments, just like all the gold bugs insist?

  4. lucky13

    Is the Chinese government going to introduce a gold back currency?

    And is this true?

    http://www.huffingtonpost.com/2011/12/26/yuan-high_n_1169935.html

  5. lucky13

    Jim R, you skipped real estate in Tokyo and US cities.
    Condos in US selling for big $.

  6. Jim R

    … and the “paper gold” market is 100 times the size of the real gold market.

    So your theory holds little water.

    When Eric Sprott wants to buy gold or silver, he goes to the mining companies, and other people who really have the metal. And he buys or sells over a time interval, several weeks sometimes, to avoid driving the price too sharply one way or the other.

    On the other hand, some of the paper “traders” will just happen to have a hundred tons of it burning holes in their vaults, and need to sell it all in the same hundred milliseconds at three in the morning when the Indian market is closed. Why they do this may be a mystery to you, Elaine, but some other folks have an alternative theory.

  7. lucky13

    In looking for info on Chinese money I found this:

    hahahahah

    MIAMI — Carnival Corp. says all maritime interests must assist without question those in trouble at sea, a duty that would not include reimbursing the U.S. government nearly $780,000 for costs associated with the rescue of the crippled Triumph cruise ship.

    Carnival released letters Friday replying to an inquiry by U.S. Sen. Jay Rockefeller, a West Virginia Democrat who chairs the Senate Commerce Committee, about the Triumph stranding and the cruise line’s overall safety record. Among Rockefeller’s questions was whether Carnival would repay the government for Coast Guard costs in the Triumph case as well as $3.4 million to the Coast Guard and Navy from the 2010 stranding of the Carnival Splendor in the Pacific Ocean

  8. lucky13

    JIM, what do you mean?
    Why they do this may be a mystery to you, Elaine, but some other folks have an alternative theory.

    ΩΩΩ

    ELAINE: HAHAHA. Yes, they have all these alternative theories that involve scary unknowable agents playing games just to hurt the poor baby hoarders who want their holdings go up and up and up.

    The big players think nothing of the gold market which is tiny. Compared to the Derivatives Beast, it is nothing. Note that the big players do want the Japanese carry trade to resume. That was a very easy road to infinite wealth.

  9. vengeur

    It is always amusing to watch newbie gold holders panic when gold gets whacked. It’s always the same “the sky is falling on gold ” nonesense. And plenty of news media types are always ready to report on golds imminent demise. See “we told you it was a bubble!” They are strangely silent when gold goes up, but when it gets whacked it’s HAHA HA you stupid redneck “gold bugs!” . It never changes. It’s part of the calvaire of owning gold that one has to put up with CONSTANT denigration by people who don’t own any. As one who started bying at $300 , I can assure you some people will NEVER have a good word to say about it , for them it is ALWAYS the wrong time to buy.

  10. Eso

    The bigcoin may not be so ‘fake’ if it were backed up by some real assets; no not gold, but trees. A great opportunity for the ‘greens’.

    ΩΩΩ

    ELAINE: Not only is it backed by nothing, it is always on the verge of being outright illegal due to its nature being very much a Ponzi scheme.

  11. vengeur

    I wish people had told me more than a decade ago that buying gold is stupid. Wait a minute, they DID tell me that back in the 1990’s.

    ΩΩΩ
    ELAINE: It was a stupid buy in 1990. A smart buy in 2002. And what caused it to go sky high?

    INDIA! Thanks to free trade, India was suddenly flush with foreign currencies from the EU and US. So they bought gold.

  12. Jim R

    lucky13,
    The alternatve theory I like, you can call it a working hypothesis, is that the monetary MOTU don’t want gold to shoot for the moon because it makes their currency meddling look bad. And it doesn’t bother them to blow through a lot of said currency shorting the paper markets.
    Just try and find a dealer, broker, or pawn shop that will sell you a kruggerrand for $1400, for example.

  13. emsnews

    HAHAHA. Right.

    Gads, when will people figure out that ‘money’ is for FOREIGN TRADE??? And this determines the value and the game is played by central banks who hoard dollars, mainly.

    And gold coins are more expensive than pure gold. This is because they are ‘collectables’ rather than mere commodities. You pay through the nose for gold coins.

  14. Jim R

    Anh the nose for gold coins.”
    Which brings us back to the original question. What is the “price of gold”, really?
    And krugerrands are not really numismatic coins, they are bullion coins.

    The day that poor Indians all decide to sell their life savings in the same hundred milliseconds is the day you can mark on your calendar “civilization ended today” and seal that calendar in a pvc pipe and bury it for the raccoon scientists to dig up 200, 000 years from now.

  15. Jim R

    Gack typing on andriod touch screen is random.

  16. Just Ice

    Gold coins are taxed as collectibles by the IRS. That means you pay the often higher tax on the sale as regular income rather than capital gains. Ouch.

  17. lucky13

    ‘Just try and find a dealer, broker, or pawn shop that will sell you a kruggerrand for $1400, for example.’
    But Ks are in a few weights. You mean a one ounce one for 1400?

  18. lucky13

    Thanks to free trade?
    I thought India produced almost nothing [other than people] for export.
    Like Russia its ‘goods’ are too shoddy for export.

    ΩΩΩ

    ELAINE: One of the biggest exporters of STEEL is India! And other goods, too. Traditionally, India and China were the main producers of HIGH QUALITY trade goods.

  19. Jim R

    I suppose India also trades Rupees on the international market. Crappy worthless Rupees. The FX weenies can trade in and out of ’em like they were bitcoins or something.

    … Which is, of course, the reason gold jewelry is a traditional and popular store of wealth in India, even among affluent ‘modern’ Indians who drive the nice cars and use the latest e-gadgets.

  20. igold

    China buys more gold then India. Gold (and silver)has been manipulated
    for years.Here is the real reason for the crash:
    http://www.safehaven.com/article/29484/how-the-gold-market-was-crashed

  21. ziff house

    no one [except bloggers] point out that the Dow is a bubble created by the fed. if they can do that they can rig gold with fake paper. Kitco was always anti-gold always had the india story.

  22. mark1147

    I’ll never forget the first time I saw a gold vendor at an outdoor town market in Asia — fabulous hoops of gold for neckwear, and all manner of bangles and bracelets. Some was highly finished, fine jewelry really, but the vast majority was a matte-dull in the humid air of Vietnam. But all of it was designed to be worn — highly portable! (I have much less distinct memories of later forays past gold vendors in Bangkok and Delhi, but the street markets for portable gold seem to be all over Asia, and probably N. Africa and elsewhere on the continent, if Cairo is anything to go by!)

  23. Ziff house

    To pretend that these are the normal” markets of old where price is determined by supply and demand,,,,, well really! Where have you been?

  24. John

    The nationless financiers manipulate everything these days. I would be cheering for the crash, if I believed it was going to be the accidental result of extreme hubris like Elaine asserts, and if it weren’t for the billions who will suffer, sicken and die when the Money Wheel quits turning.

    Unfortunately, I think H. Sapiens crossed the Rubicon (jumped the shark?) in 2008. And as bad as Obama is, McCain would have been just as bad, albeit in slightly different ways. I remain convinced, however, that Romney deliberately threw the election. Obama is 100% a bankster puppet; within 6 weeks of losing, Romney was on the board of directors for Mariott Hotels. Now that his blind trust is unfrozen, he stands to make fat coin under the Obamanation.

    Anyway, yeah. Gold. I told everyone I know to buy gold and silver a decade ago, when they were $300 and $5, respectivley. I practically begged family members to get into both, because I knw what was coming. They didn’t listen. Their loss. Now? Gold has run so far for so long that only a fool or an immortal would have bought in the last 18 months. Elaine and I may disagree on why the world is collapsing (I think it’s purposeful, for reasons already detailed here), but we both see quite plainly that there’s very little to be done to ward off that collapse any longer. Humanity is foolish, shortsighted, lazy-brained and selfish. They will stubbornly refuse to wake up until everything goes up in flames and they can’t pretend “err’thing gonna be alright” any longer.

  25. Ziff house

    Haha , look at that K Denninger a closet gold bug, worried about a 2 tiered price, and then in the same breath ” no manipulation ” ,that guy is a kook.

  26. ziff house

    Gosh Darn! should’a invested that thar Dow Jones! it ALWAYs goes up cause USA is so strong!

  27. Hans

    So many “rational” arguments in this article (and others), why gold “should” go down, but what if the stock market fell 10-15% in two days? Everybody would be crying WOLF such a market CRASH. Let’s be honest, whatever the causes and no matter how much a correction was due, what we see here is NOT a normal or in any way predictable market event. It deserves a more thorough analyses.

  28. Jim R

    Silver is disappearing from the shelves at coin shops and metal dealers. The price may be low, but you can’t actually buy any.

    Another sign of price suppression — shortages.

  29. DeVaul

    The best place to buy gold in Bangkok is in Chinatown. This is where Thais go to buy real gold. The gold sold by Thais on the streets is for foreign tourists who are gullible and cannot see they are being scammed. Thai women will not accept fake gold, so Thai men must go to Chinatown if they want to impress their wives or girlfriends with a gift.

    Fake or low content gold is worn for decoration because of the real chance of having your gold necklace stolen in a crowded area by expert pickpockets.

    Thais increasingly view gold as more of a decorative item than a sign of wealth or “money”. They used to be like Indians and the Chinese, but now are more like Americans in accepting paper money as “real” money. It is different out in the countryside, however.

    Don’t forget that the Asian Currency Crisis stripped many Thais and other Asians of their gold holdings, and they have been trying for 15 years or so to buy it back. Some don’t even bother now, only relying on cash alone.

    I knew the bitcoin thing was a fraud. That was so easy to see. The bitcoin scam is more of a statement on the mentality of our time than anything else. The idea that “virtual” things have value is an entirely new concept.

  30. DeVaul

    Last week I was gone visiting my sons, so I am catching up on my reading. Just read Kunstler’s weekly article. It is about the gold market and the bitcoin scam. The bitcoin part is quite amusing. I recommend it.

    http://kunstler.com/blog/2013/04/smack-down-time.html

    Like any sane person, he could see how ridiculous the whole bitcoin thing was from the start. We are becoming mentally unglued, falling for scams that are beyond obvious. It’s kind of sad, but inevitable, I guess.

  31. emsnews

    Sigh, what is really sad is how gold buyers refuse, even when all evidence points to the same thing, to believe they are buying a COMMODITY that shoots up and down in price depending on various forces, nearly all of which are in Asia, not the US.

    Asia holds a lot, a lot of gold, a lot of US debt, trillions and trillions of US trade dollars and a host of other things.

    NEWS: MANY commodities are dropping due to Asians not bidding them up.

  32. Ziff house

    So there is the biggest money debasement in history , and no consequences ? Rising gold should be at least one .
    But a shakeout for whatever reason, some talk of this being a deflationary trigger, I think gold wil be the final bubble we are setting up for now. That will be the time to worry about assets.

  33. DeVaul

    “Rising gold should be at least one .”

    Why? What law of nature says it should be?

  34. Ziff house

    Commodity, also considered tier 1 capital. And I’m sure I can find EMS quotes to the contrary that reflect a certain ambivalence on this subject.

  35. Ziff house

    Law of shiny objects.

  36. Ziff house

    And I’m sure if everyone does it at once the printing can go forever, happy times, no one will notice.

  37. Ziff house

    And as for Asia controlling price now, you could see it in the charts, if it ran up overnight Comex would knock it down the next day.

  38. DeVaul

    “Commodity, also considered tier 1 capital…”

    “Law of shiny objects.”

    These are not natural laws.

  39. Elaine, the news of the day is than an epic economic and political paradigm shift has occurred.

    A number of stock sectors entered a bear market on Thursday March 21, 2013, as Reuters reported ‘Cyprus and European data rattle the Euro’, and as the NYT reported ‘Mood sours in Cyprus as E.C.B. gives bailout ultimatum’.

    And now today, on Monday, April 15, 2013, the world passed through an investment pivot point, on the exhaustion of the world central banks’ monetary authority inability to stimulate global growth and trade, as World Stocks, VT, Nation Investment, EFA, Small Cap Nation Investment, IFSM, traded lower, transitioning from bull to bear market. The markets have turned from Risk On, ONN, to Risk Off, OFF.

    The two levers of Liberalism’s prosperity have failed to produce more wealth.

    First, a full expansion of both toxic credit investing, JNK. And second, carry trade investing, ICI, built upon a falling Japanese Yen, FXY, have been achieved, as is witnessed by Leveraged Buyouts, PSP, and IPOs, FPX, and Global Industrial Producers, FXR, trading lower in value.

    The most toxic of debt, such as Fidelity’s Distressed Investments, FAGIX, specifically assets taken in by the US Federal Reserve under QE1, Junk Bonds, JNK, and Emerging Market Bonds, EMB, have been the credit basis of Liberalism’s Grand Finale Stock Rally that that began nine months ago with a Euro Yen, EUR/JPY, currency carry rally, have all turned lower. And Action Forex report that the Grand Master of carry trades the Euro Yen trade closed lower from its recent burst higher at 128.30.

    Major World Currencies, DBV, and Emerging Market Currencies, CEW, traded lower, commencing competitive currency devaluation as the US Dollar, $USD, UUP, and the Japanese Yen, FXY, traded higher.

    The seigniorage, that is the moneyness of the Milton Friedman Free To Choose Floating Currency Regime, was based upon national sovereignty of democratic states. It failed Monday April 15, 2013, on falling currencies, giving confidence to the concept that regionalism is rising to replace capitalism and all forms of socialism, with the result being that Large Cap Dividend Stocks, DTN, such as S&P Telecom, IST, Utilities, XLU, and Pharmaceuticals, XPH, are no longer underwriting Dividend Growth, VIG.

    Under Liberalism, moneyness came from Asset Managers, such as BLK, WDR, EV, STT, WETF, and AMG, and the Too Big To Fail Banks, RWW, such as BAC, C, and JPM,and was underwritten by Liberalism’s finance schemes, such as Free To Trade Agreements and Financial Deregulation.

    The era of speculation based upon ever increasing moral hazard is over, finished and done. The global debt bubble served to leverage up the most speculative of stocks, such as the vice stocks held in the Fidelity Mutual Fund VICEX, the Gaming ETF, BJK, as well as Small Cap Value Shares, RZV. But now, the dynamos of global growth and corporate profitability are winding down, and the dynamos of regional security, stability and sustainability are winding up regionalism, thus terminating the concept of investment choice.

    Investors should start thinking of an investment strategy that is based upon the concept that regional leaders, such as the EU Finance Ministers, and regional bodies such as the ECB, are going to introduce regional governance with new taxes, bank deposit bailins, and capital controls.

    With the strong sell of the world major currencies, DBV, and the Emerging Market Currencies, CEW, on Monday, April 15, 2013, the concepts of currencies, credit and money, must be reexamined and redefined.

    The dynamos of global growth and corporate profit are winding down capitalism, European socialism and Greek socialism, terminating, currencies, credit and money.

    The end of credit has commenced, on Monday April 15, as seen in most all of the credit instruments seen in this Finviz Screener … http://tinyurl.com/c4eouwr … EMLP, AUSE, BRAF, DRW, KBWY, DWX, JNK, SEA, IST, EMB, PGF, BKLN, PICB, VIG, XLU, ROOF, IYR, XPH, CWB, VNQ, DTN, MUB, DBU, FNIO, PHO, DWM, DOO, DLS, REM, EDIV, DGS, BWX, IHY, EFA, REZ, KBWD, EUFN, PSP, IFGL, TAO, IFSM, AMJ, DSUM, UJB, PCEF, FLOT, SHY, BND, MBB, GOVT, trading lower in value.

    Most decisively on Monday, April 15, 2013, the dynamos of regional security, stability, and sustainability are winding up regionalism, establishing a new trust, the trust in mandates of technocratic government, as in the Cyprus Bank Deposit Bailin, as the the world passed through Peak Currencies, DBV, and CEW, Peak Credit, JNK, and Peak Money, VT, communicating and end to Liberalism’s currencies, credit and money.

    Austrian economist Ludwig von Mises provides insight into the end of the crack up boom Liberalism’s money. The boom can last only as long as the credit expansion progresses at an ever-accelerated pace. The boom comes to an end as soon as additional quantities of fiduciary media are no longer thrown upon the loan market. But it could not last forever even if inflation and credit expansion were to go on endlessly. It would then encounter the barriers which prevent the boundless expansion of circulation credit. It would lead to the crack-up boom and the breakdown of the whole monetary system.

    Diktat money was born out of the Cyprus Bank Deposit Bailin and issued in Authoritarianism; it is defined as the compliance required, as well as the trust that is engendered, the debt servitude that is enforced, and the austerity that is experienced, such as heavy losses on large bank deposits, levying additional taxes, privatizations, and sale of a country’s central bank’s gold reserves, when sovereign regional sovereign leaders such as Olli Rehn, and sovereign regional sovereign bodies such as the EU Finance Ministers or the ECB, invoke mandates for regional security stability and sustainability.

  40. emsnews

    And so why did the Pink Diamond go for nearly $40 million? The rich continue to get much richer! Wealth is shifting and the ZIRP lending by central banks continues!

    Yes, the slow down has returned thanks mainly to Europe and the US cutting deficit spending and this affects Asia heavily.

  41. ziff house

    the bailout was never to save the economy it was to save the banks.

  42. Ziff house

    The objection is not the take-down so much as the way it was done, they way the system is run these days , outside the law.

  43. emsnews

    Asians are buying SYSTEMS and BUSINESSES and NOT COMMODITIES!

    Learn to read, please, Jim.

  44. Jim R

    Look, Elaine, it’s OK to be wrong.

    But jamming your fingers in your ears and yelling LALALALA! does not make you seem any more right.

    Theoretical paper prices of gold have been set artificially low. And Asians are BUYING gold, not selling. In addition to anything else they can buy, because it looks like “sound as the dollar” just doesn’t mean what it used to.

  45. lucky13

    Jim R, can you translate for me?
    In 500 words or less?

  46. emsnews

    Good lord, the religion of gold leads to such problems with rational thinking!

    The reason there is not enough gold for sale suddenly is due to the price dropping. SO…holders of gold are not PUTTING IT ON THE MARKET. This, in turn, causes prices to rise again.

    All commodities work this way, by the way.

  47. Jim R

    The 500-words-or-less version:
    1. It was not some Indian who was sad over the state of the Rupee selling 500 tons of gold at the open of the London market. It was JP Morgan.
    2. No actual gold was harmed in this transaction.
    3. When this charade blows up, you, the taxpayer, will be on the hook for it. JP Morgan is too big to fail/jail. The biggest welfare queens on the planet are in lower Manhattan.

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