Gold down $95 today after losses yesterday. US Dollar gaining relative strength quickly.

[banned from Kos]

Commodities are falling everywhere.

And Merkel and Sarkozy are kicking the can hard (I know, overused term).

[Cigar11]

1. What will Glen Beck do?

[Capitalocracy]

12. Laugh all the way to the bank.

That's why you shill for gold rather than actually convert all your money to it (the fact that if you had bought gold a few years ago and sold it recently you would've made quite a bit of cash notwithstanding)

[Juneboarder]

2. Since when does gold follow the markets?

In the past it has typically been the opposite where when the markets go down, the metals go up. IMO it's all smoke in mirrors, the value of metals will be increasing in great percentages in the future.

[BeHereNow]

3. And you are correct.

Paper holding gold bugs are FOOLS.
Physical is the only hedge against the fall of the empire.
The current show is staged to benefit the very wealthy who are currently
buying PMs at bargain basement manipulated prices.
BHN

[TheWraith]

29. Oye, not this crap again.

News for everyone else who thinks that stuffing gold under their mattress is a solution: it's absolutely ridiculous in every way.

Implicitly, you believe one of two things will happen. One is massive financial catastrophe like a stock market crash, but the continuation of major institutions like banks, government, and financial markets. In which case, the only smart thing is to have your hedge investments--like gold--stored in a safe location like a bank vault, lest someone break into your home and steal it all.

OR...

You believe in a catastrophe WITHOUT the continuation of institutions like banks, government, and financial markets. In which case gold will be worth exactly shit. It's "value" is just as imaginary as paper money--you can't eat it, can't build things with it, and it won't keep you warm. The idea of gold coins being worth even a fraction of the value you put into them, in some kind of post-catastrophe world, is simple fantasy. If you really believe that that's going to happen--and by the way, it's not--you're better off investing your money in tangible goods. Dry and canned food, tools, firearms, ammunition, insulation, gasoline, clothes, etcetera.

[BeHereNow]

31. How much have you transferred to PMs? And when?

Just curious to know.
BHN

[banned from Kos]

4. Gold never has followed the big indexes closely. Its getting hammered now due to dollar strength.

Down $80 now.

[BeHereNow]

5. WHAT dollar strength- please, elaborate.

You are joking, right?
BHN

[earthside]

6. This means more recession

Oil falls on euro zone worry, dollar strength - Reuters
http://www.reuters.com/article/2011/12/12/us-markets-oil-idUSTRE7AD06820111212

Part of the point of quantitative easing was to cheapen to dollar to make our exports (such as they are) more affordable and thus spur growth.

This strengthening of the dollar is messing-up that plan.

My hunch is that the eurozone is soon to be an economic dead zone ... and all of this volatility in commodities is just a warning sign of the next economic crisis. I suspect that the Europeans may start to print euros and the Fed will announce QE3 -- look out for hyperinflation.

Gold is going to be over $2000 by spring and silver over $50.

[BeHereNow]

11. Keep stacking.

If you want to eat.
Crazy to me, how little comprehension about the global economic situation
there is on DU sometimes.
All these "the dollar is strengthening posters are delusional.
Strength backed by WHAT exactly?

You are right- the POG and POS are going to go through the ceiling when the
shit hits the fan...coming soon, BTW.

BHN

[banned from Kos]

14. You are a goldbug Doom and Gloomer

Say no more!

[BeHereNow]

15. And your transfer of dollar assets to PMs is what exactly at this point?

I'll go first-
In 2002, I transferred 16,000 dollars to PMs-
Care to do the math on my gains?

Your turn- do tell me of your preservation of assets since 2002.

BHN

[BeHereNow]

16. Crickets...

Fail-calling someone a "gold bug" is akin to calling
one a CT.
Please, do elaborate on how you have preserved your dollar assets-
I am so very interested to know.
BHN

[banned from Kos]

19. just went out. Yes, you said $ strength was "delusional" but the

DXY is up to 80.55 to support my claim.

And "doom and gloom" is appropriate if you are talking global economic meltdown. Global GDP will easily rise in the
next 3-4 years. Our own GDP will rise 3% this next year (using my favorite forecaster).

The Dollar will continue to gain strength, inflation is nearly dead, M1 is contained, and Asia/South America are booming.

If you went partial PM in 2002 - Congrats. You can now sell near the top.

[BeHereNow]

20. Tee-Hee, NO WAY am I going to sell.

Carry on- acid and delusions are an excellent way to experience the collapse.
Carry on!!!!!

BHN

[banned from Kos]

22. So we disagree about the future. I say solid growth and you say meltdown.

Hey, that is why markets function!

[BeHereNow]

21. I hope you are not holding your breath based on these sources...

DXY up based on WHAT exactly?
LOL!!!!!!!!
BHN

[banned from Kos]

23. DXY (not DWX), its the Dollar Index.

It moves like cold syrup.

Its the dollar vs 15 major currencies (or maybe 12)

[DCBob]

7. relative to the Euro.

The Euro is below $1.30 for first time in about 1 year.

[DCBob]

8. Gold is more a hedge against the dollar rather than against the markets.

Euro crisis helps the US dollar therefore gold drops.

[BeHereNow]

9. LOL!!!!!!! n/t

BHN

[DCBob]

10. what's so funny??

[BeHereNow]

13. Your complete disconnect from the fact that we live in a GLOBAL economy.

I only wish I had your "hope."
Ever watched a stack of dominos fall?
Get ready- it's started.
BHN

[Yavin4]

17. BHN, Don't Waste Your Time Arguing

This is a terrific buying opportunity for physical metals. I just upped my order for January.

[BeHereNow]

18. And that is NO accident- (buying opportunity, that is...)

The fucking ptb are buying like mad right now, thanks to the
manipulation manufactured to benefit them.

Personally- I am not in the able to buy gold at the moment,
but SILVER is a STEAL at this point!
So one maple at a time...

BHN

[Yavin4]

27. The COMEX May Not Make It Past June 2012

Something really rotten is going on.

[DCBob]

26. and you think gold is going to save your ass if that happens??

now thats something to laugh about.

[Yavin4]

28. The Global Economy Is Heading Back to the Gold Standard

There is sooo much debt out there that it won't be paid back unless the currencies of the world are inflated like crazy.

Early next decade, physical PMs will be in high demand.

[DCBob]

30. If things get that bad even a pile a gold wont do you any good..

bartering food and other necessities of life will become the primary means of trade.

[Dover]

24. I have a question about metals coinage.

I saw a story on the news yesterday about the dollar coin being minted. The story is that NO one wants to use
them and they are just gathering dust and costing for storage, so they are going to stop making them except in small
quantities. They cost 32 cents each to produce. You'd think they'd have more intrinsic value than a paper dollar. What's the story, as regards it's value?

[banned from Kos]

25. If the intrinsic value of a dollar is .32c or .03c (paper) why does it matter?

Until it rises above a dollar?

Supposedly, a nickel is worth about 5.5 cents (don't quote me).