Gold Retreats on Bernanke Comments

[creshka46]

http://online.wsj.com/article/SB1000142 ... lenews_wsj

this sheds some light on the situation

[blackrabbit]

Thanks for the article.

[Ardent Listener]

Bernanke gets more attention from the markets than the possibility of WWWIII brewing in the middle east. Remember that.

[fb101]

Hey, I've been in a coma far a few years.
When was it exactly this A**Wipe got some genuine credibility?
Oh well, I guess GS had their shorts in place...............

Thanks for the article.

[Engineer]

Bernacke has a pretty good history of making the markets (stocks AND commodities) drop when he speaks. Obama did too...for a while at least.

The old concept of don't fight the Fed is still valid today, at least for short term trades. They want "controlled" inflation, and will continue the PM smackdowns whenever prices get out of hand.

[Delawhere Jack]

Bernanke gets more attention from the markets than the possibility of WWWIII brewing in the middle east. Remember that.

The middle east can't print FRN's to levitate the markets.

[beauanderos]

BS. Author doesn't have a clue, as do most. They get paid to write words, after an event, trying to explain a rationale for what happened, after its happened. It's just fodder for the masses to read, otherwise the WSJ would be nothing but empty pages. 90 percent of what is written is conjecture, a subjective take on why something did something. Who can prove the guy wrong? It's just his imagined spin on what caused the sell-off. It was another engineered sell-off, which you can watch as it happens on Netdania, minute by minute feed. Who sells thousands of contracts every time the market drops? Not someone hoping to gain in the market, only someone trying to cap an advance. A seller, looking for a profit, will trickle a large position into the market to maximize their gains, not dump it all at once. And did anyone else even notice how the volume increased dramatically... AFTER hours, mostly more selling when there are fewer buyers around to repudiate the foray? What Bernanke says is just posturing (some call it jaw-boning) and he is lying thru his teeth if he claims the economy is improving. They're doing all they can to cap the breakout that started yesterday (and has a long way to run) because sentiment was beginning to become glowing again and sidelined money from hedge funds was starting to funnel into precious metals again. The markets will recover from this and start back up again, but once again they probably ruined a few people to accomplish their dastardly goals. Next time, if outright naked shorting doesn't work, they'll revert to the margin increases again from CME. The ECB LTRO just infused another 500 billion or so to 800 banks today... so TPTB had to come in and stomp the rally or we would be near $40. It really pisses me off when sheep read crap like these "explanations" and fall for it, only to be led to slaughter time after time. Wake up, people.

[fb101]

Thanks beauanderos......
Watch your BP !

[madman326]

mr. beauanderos, you are way over my head with todays posts. i knew i had a lot to learn, but now i fell like a speck of dirt! i am gonna keep trying to understand all this and learn from it. maybe i can figure somethings out before i die. lol.

[beauanderos]

mr. beauanderos, you are way over my head with todays posts. i knew i had a lot to learn, but now i fell like a speck of dirt! i am gonna keep trying to understand all this and learn from it. maybe i can figure somethings out before i die. lol.

I don't "know it all" by any means. Far from it. I just read alot of analysis (a couple of hours a day) written by guys with alot more experience than I have. I assimilate what they provide and spit it back out in my own words. I can't begin to dispense what I glean from all my daily sources, you would basically have to read the same sources, and your take might be different. I can tell you there are two different sets of rules, one for the sheep and one for the shephards. They tell you what they want you to think, but its mostly just propaganda to brainwash you into thinking that the system is still intact and that fiat still has value. Rising precious metals prices, as 68camaro points out, is the canary in the coal mine that heralds a cave-in. They have to keep the frickin canary from keeling over. One example is how they repeatedly understimate joblessness, but then, in following months, adjust the numbers higher, so that a perception grows that subsequent consecutive months is perceived by the public that joblessness is "falling." They do the same thing by massaging the CPI and PPI with hedonics, and just plain out lies. Read John Williams Shadowstats.com (I think that's his site). If I seem like I'm angry, it's because we have all watched this happen, over and over again (I told you yesterday this was coming), and yet people continue to act clueless and display dismay, like stunned deer in headlights. I'm actually happy this takedown occurs, with predictable regularity (I can even tell what times of day it is most likely to occur), because it gives me a chance to "reload my guns" with relative value buys on USLV. If the market went merely straight up, you could only profit from the rise. But when you know how to play both directions you can optimize your gains. Sorry if my rant is rambling.

[madman326]

thanks a bunch beauanderos!!! the canary metaphor helps. CPI? PPI? and thanks for the site, ill be sure to check it out!

[68Camaro]

Attention newbies.... there are some people worth listening to, a great many not. If you're not somewhat discerning, then God help you... If you haven't got a clue, then at least pay attention to the trends Ray speaks of. You don't have to follow Ray's exact advice, but he IS explaining what is happening, and it's not a mystery, and Ray does have a clue - maybe a few...

[dan53]

Pm's nosedived because the dollar took off.

[68Camaro]

Pm's nosedived because the dollar took off.

Sometimes forums make it difficult to tell when people are joking, but you're joking, right? Dollar goes up a half percent and PMs fall 5-10%? I don't think so....

[dan53]

I am not joking.

[dan53]

All you have to do is pull up a chart of the dollar and compare that with a chart of silver. Most often, when the dollar gains.....even if its a little....the price of silver declines.

[68Camaro]

OK, you're free to believe that. Sometimes there is a small correlation, granted, but oftentimes not. To make sense they need to correlate well, and proportionally.

The USD reacted at same time as the PM smackdown. Does that mean the the USD and PMs are that strongly related? Or does it mean they reacted to the same stimulus - which is the Bernank speaking, and anything else that may come with that?

Oil also reacted. Bonds reacted. The markets shook at his power.

[fb101]

Here's my dollar chart.
Don;t look like that big a takeoff to me.........


http://quotes.ino.com/chart/?s=NYBOT_DX&v=d12

[ScottyTX]

Sorry if my rant is rambling.

For god sake's keep ranting a few of us might be able to actually learn something here Ray.....

[dan53]

fb101, you are looking at a one year chart. Key the 3 day tab at the bottom and look again.

[beauanderos]

Brother John F had some good commentary on today's action:

[68Camaro]

Listening to both Bro John and Ron Paul reminds me that the masses (who require entertainment) will never follow either because of the 15 second sound bite attention span of the masses.

However, some good info there if you can sit through it. The smash, emphasized by Bro John's graphics, is the perfect illustration (again) of the artificiality of the market. 250-500 million "ounces" of fake paper silver dumped in a controlled fashion. And yet people yawn at this, and (nothing personal) even otherwise well informed people here at RC are calling this "normal".

And yes, the symbolism of this smash happening even as Paul was holding up a silver dollar in the Bernank's face, is priceless. Thanks to Bro John for pulling this together for those of us unable to follow to this level of detail. The Bernank knew what would be happening in the market exactly as Paul confronted him, and had to be fighting his emotions not to throw it back into Paul's face.