Posted on 11/28/2012 6:39:45 AM PST by blam
UPDATE: Gold Just Tanked, Silver Tanked, And Oil Is Sliding
Joe Weisenthal
November 28, 2012
It's unclear what just happened, but as US trading cranks to life, commodities have dumped.
Gold just dropped about $15/oz in a couple of seconds.
Kitco
And here's Silver:
And oil is fading.
(Excerpt) Read more at businessinsider.com ...
People posing holding onto aircraft propellers. Makes my skin crawl.
Oh my gosh! Thanks for the reminder that is part of the stuff on my To Do List today. (buy winning lotto buy winning lotto buy winning lotto! :)
PRECIOUS-Gold down for week on recession, fiscal crisis fears
http://www.reuters.com/article/2012/11/16/markets-precious-idUSL5E8MGBEA20121116
Looks like this has been brewing for awhile....
And so it begins.
Why would our budget talks cause gold to drop?
Gold fell more than 2 per cent, its largest decline in three weeks, on the back of a strengthening dollar and amid worries about the US budget talks.http://www.ft.com/cms/s/0/35f5d62e-3962-11e2-8881-00144feabdc0.html#axzz2DWwmy3l3
Insider’s deal already struck?
First off this is not really gold going down. This is an anticipated reaction in an uptrend and totally predictable. Oil going down is quite another matter. It should not be going down with the dollar going down as well. It implies that the consumption of gasoline is going down with the dollar going down which signal a major, major slow down in the economy. Disaster dead ahead.
Something (financially) blew up?
Beat me to it.
Ahhh....Pussy Galore....truly.
Yup, first thing that came to mind was that fashion model who recently walked into the prop of a small plane.
Recession with deflation on the way???
Some big holders needed to cash in all at once???
Stronger dollar, for some reason?
Didn’t BP just lose all US contracts (suspended) due to the overreaching EPA slapping the shackles on them? Heard it on the news just now.
All these commodities are ridiculously overpriced. By at least 30%.
Stock markets being manipulated?
Argentina downgraded and defaulting ??
By pump-and-dumpers like this:
Kerry Lutz and David Banister--Gold and Silver are Screaming Buys!
“I’ve always wondered, “If GOLD is such a great investment, why are they trying to sell me some for paper money?”.............”
Two years ago, we were visiting our grandkids, and they let me watch Fox Business, during the hour after closing. There were tv ads after ad pushing gold as our $ was so worthless.
Our 11 year old, going on 31 grand daughter asked, “Papa, how do you pay for Gold if our dollar is so weak and bad?”
I told her that the gold sellers sold their gold for $’s.
Her reply, “That makes no sense?”
Then, she added, “Why would they sell their valuable gold for worthless dollars?”
I told her I didn’t know. Later at, our home, I put a stop loss of 5% on our GLD etfs. That was a good move.
Dingy Harry Reid must have popped off again, as he did yesterday. The man is a walking financial collapse.
Thanks, you voting cretins in NV.
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