GOLD $1,182

The Business Insider ^ | 11/25/09 | Vince Veneziani

[FromLori]

Gold is on a tear this morning, just breaking $1,182.

The dollar is losing serious ground against the Euro during early AM trading. Check out the Euro/Dollar spike in the second chart below.

[GOPJ]

If people start to panic about the dollar it’ll get much worse...

[FromLori]

Ping related thread

http://www.freerepublic.com/focus/f-news/2394272/posts

http://www.ottawacitizen.com/news/theft+Mint+RCMP/2261182/story.html

I see India is going to buy more Gold.

http://www.mydigitalfc.com/plan/india-plans-buy-more-gold-imf-410

Miners say they are running out of Gold

http://www.brisbanetimes.com.au/business/miners-were-running-out-of-gold-20091125-jqqy.html

And

http://www.reuters.com/article/americasRegulatoryNews/idUSN2326961920091...

[Travis McGee]

"There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved."

~~Ludwig Von Mises

Our masters have chosen option #2.

[FromLori]

Agree and I think it may be starting.

[NeoCaveman]

Rule 1: Do not panic

Rule 2: If you do panic, be sure to be first.

[FromLori]

Well said Travis I agree.

[stockpirate]

And the dollar is worth $28.38 per ounce.

[LomanBill]

The story is told of the
Power of gold
And its lure on the unsuspecting
It glitters and shines
It badgers and blinds
And constantly needs protecting.

Balance the cost of the soul you lost
With the dreams you lightly sold
Are you under
The power of gold?

[Travis McGee]

So, what are you saying?

We need to deny that an iceberg is dead ahead, and keep playing cards and dancing on the Titanic?

[AxelPaulsenJr]

Meanwhile, the DOW continues it’s upward march. Unemployment is slowing. New home sales are improving and people are starting to spend money again. God, can it get much worse?

[FromLori]

I camped there it has a campground that borders the cemetary.

[LomanBill]

At the end of the day, the ability to apply knowledge of Biology will be more valuable than 1s, 0s, and “gold” - both paper and metal.

[Travis McGee]

"Business will turn for the better this month or next, recovering vigorously in the third quarter and end the year substantially above normal."

~~Harvard Economic Society, May 17, 1930

[Travis McGee]

Explicame, por favor.

[FromLori]

You forgot to add the sarc comment and I almost fell for it :)

$1,200 here we come. Bernanke just got punk’d. Again. From the Financial Chronicle of India: “The Reserve Bank of India (RBI) may well buy IMF’s remaining hoard of 201.3 tonnes on acceptable terms, which are now under negotiation.”

http://www.zerohedge.com/article/india-negotiating-purchase-remaining-imf-gold-spot-hits-1177oz

[ilovesarah2012]

Unemployment can only go so high and maybe we’re almost at the peak. New home sales are up because rates are low and there are bargains (relatively speaking) but more foreclosures, especially in commercial properties) are on the horizon and most people I know are not spending. Things will get worse!

[AxelPaulsenJr]

Oh well we all make mistakes don’t we: http://www.freerepublic.com/focus/f-news/2390167/posts

[Free_at_last_-2001]

Harvard - that was the clue!

[tiki]

Can I just be a little selfish here? I hope it falls for a little longer until we sell our cotton crop.