[partypup]

[quote=TheBreeze]Gold is up $2 to 1050.60 overnight. This could be the big one.

You guys know that it doesn’t have to be the end of the world right? Things can just get gradually worse. Jimmy Rogers likes to talk about when the British pound collapsed but it didn’t lead to the end of British society.

The dollar has already gone[/quote]

Breezy, I would like anyone to correct me if I’m wrong on this, but I really believe that this is the first time that a reserve currency has collapsed. So we’re in uncharted territory here. Comparisons to the Pound, Weimar mark, the Argentine peso or the Zimbabwe dollar are really not appropriate.

My growing concern now is that this collapse could happen with lightning speed (in a matter of months or even weeks), and I say that because in all my years observing gold action I have NEVER seen movements like this.

I think we may have seen the end of “gradual” unwinding in this crisis. You need to brace yourself for impact. Keep watching gold – every day – every hour, even. Gold will tell you everything, even if you don’t have all the facts or know all the details. And right now gold is screaming,”Red alert”.

[partypup]

[quote=TheBreeze]Gold is up $2 to 1050.60 overnight. This could be the big one.

You guys know that it doesn’t have to be the end of the world right? Things can just get gradually worse. Jimmy Rogers likes to talk about when the British pound collapsed but it didn’t lead to the end of British society.

The dollar has already gone[/quote]

Breezy, I would like anyone to correct me if I’m wrong on this, but I really believe that this is the first time that a reserve currency has collapsed. So we’re in uncharted territory here. Comparisons to the Pound, Weimar mark, the Argentine peso or the Zimbabwe dollar are really not appropriate.

My growing concern now is that this collapse could happen with lightning speed (in a matter of months or even weeks), and I say that because in all my years observing gold action I have NEVER seen movements like this.

I think we may have seen the end of “gradual” unwinding in this crisis. You need to brace yourself for impact. Keep watching gold – every day – every hour, even. Gold will tell you everything, even if you don’t have all the facts or know all the details. And right now gold is screaming,”Red alert”.

[partypup]

[quote=TheBreeze]Gold is up $2 to 1050.60 overnight. This could be the big one.

You guys know that it doesn’t have to be the end of the world right? Things can just get gradually worse. Jimmy Rogers likes to talk about when the British pound collapsed but it didn’t lead to the end of British society.

The dollar has already gone[/quote]

Breezy, I would like anyone to correct me if I’m wrong on this, but I really believe that this is the first time that a reserve currency has collapsed. So we’re in uncharted territory here. Comparisons to the Pound, Weimar mark, the Argentine peso or the Zimbabwe dollar are really not appropriate.

My growing concern now is that this collapse could happen with lightning speed (in a matter of months or even weeks), and I say that because in all my years observing gold action I have NEVER seen movements like this.

I think we may have seen the end of “gradual” unwinding in this crisis. You need to brace yourself for impact. Keep watching gold – every day – every hour, even. Gold will tell you everything, even if you don’t have all the facts or know all the details. And right now gold is screaming,”Red alert”.

[partypup]

[quote=TheBreeze]Gold is up $2 to 1050.60 overnight. This could be the big one.

You guys know that it doesn’t have to be the end of the world right? Things can just get gradually worse. Jimmy Rogers likes to talk about when the British pound collapsed but it didn’t lead to the end of British society.

The dollar has already gone[/quote]

Breezy, I would like anyone to correct me if I’m wrong on this, but I really believe that this is the first time that a reserve currency has collapsed. So we’re in uncharted territory here. Comparisons to the Pound, Weimar mark, the Argentine peso or the Zimbabwe dollar are really not appropriate.

My growing concern now is that this collapse could happen with lightning speed (in a matter of months or even weeks), and I say that because in all my years observing gold action I have NEVER seen movements like this.

I think we may have seen the end of “gradual” unwinding in this crisis. You need to brace yourself for impact. Keep watching gold – every day – every hour, even. Gold will tell you everything, even if you don’t have all the facts or know all the details. And right now gold is screaming,”Red alert”.

[partypup]

[quote=TheBreeze]Gold is up $2 to 1050.60 overnight. This could be the big one.

You guys know that it doesn’t have to be the end of the world right? Things can just get gradually worse. Jimmy Rogers likes to talk about when the British pound collapsed but it didn’t lead to the end of British society.

The dollar has already gone[/quote]

Breezy, I would like anyone to correct me if I’m wrong on this, but I really believe that this is the first time that a reserve currency has collapsed. So we’re in uncharted territory here. Comparisons to the Pound, Weimar mark, the Argentine peso or the Zimbabwe dollar are really not appropriate.

My growing concern now is that this collapse could happen with lightning speed (in a matter of months or even weeks), and I say that because in all my years observing gold action I have NEVER seen movements like this.

I think we may have seen the end of “gradual” unwinding in this crisis. You need to brace yourself for impact. Keep watching gold – every day – every hour, even. Gold will tell you everything, even if you don’t have all the facts or know all the details. And right now gold is screaming,”Red alert”.

[partypup]

Okay, at the risk of being mocked, I am going to update my *chaos* prediction. Aecetia is right: I made my last prediction in early September 2008, and approximately three weeks later the market did enter a heart-pounding phase. It is only a year later that we finally discover – from Geithner and Bernanke, themselves – that the global financial system was only hours away from collapse. What I could not and did not foresee was TARP, which has managed to paper over some seismic fractures that are growing wider every day now.

However, these cracks are now reaching their breaking point. The Fed bought a year, but that year is now almost up. It really seems unlikely that any efforts by the Fed, Treasury or Congress can continue to prop up this corpse of an economy if we get hit by another rogue wave. The resistance to the dollar is now growing quite strong, and I sense that something is going to give in the next two to three weeks. There are just too many articles in global media now bemoaning the death of the dollar. When chatter reaches this level, something inevitably happens.

I don’t know if it’s going to be a run on the dollar, a COMEX failure to honor a physical delivery of substantial tonnage of gold/silver or the implosion of yet another pillar of American finance. Or it could be an Israel/Iran event that sparks the kindling.

Hard to know how this will get started, but it most certainly feels like something very big is coming very soon:

“Dollar Reaches Breaking Point at Banks Shifting Record Reserves ”

Oct. 12 (Bloomberg) — Central banks flush with record reserves are increasingly snubbing dollars in favor of euros and yen, further pressuring the greenback after its biggest two- quarter rout in almost two decades.

Nations reporting currency breakdowns put 63 percent of the new cash into euros and yen in April, May and June, the latest Barclays Capital data show. That’s the highest percentage in any quarter with more than an $80 billion increase.

“Global central banks are getting more serious about diversification, whereas in the past they used to just talk about it,” said Steven Englander, a former Federal Reserve researcher who is now the chief U.S. currency strategist at Barclays in New York. “It looks like they are really backing away from the dollar.”

http://www.bloomberg.com/apps/news?pid=20601087&sid=aS2s2mhDVBSM

[partypup]

Okay, at the risk of being mocked, I am going to update my *chaos* prediction. Aecetia is right: I made my last prediction in early September 2008, and approximately three weeks later the market did enter a heart-pounding phase. It is only a year later that we finally discover – from Geithner and Bernanke, themselves – that the global financial system was only hours away from collapse. What I could not and did not foresee was TARP, which has managed to paper over some seismic fractures that are growing wider every day now.

However, these cracks are now reaching their breaking point. The Fed bought a year, but that year is now almost up. It really seems unlikely that any efforts by the Fed, Treasury or Congress can continue to prop up this corpse of an economy if we get hit by another rogue wave. The resistance to the dollar is now growing quite strong, and I sense that something is going to give in the next two to three weeks. There are just too many articles in global media now bemoaning the death of the dollar. When chatter reaches this level, something inevitably happens.

I don’t know if it’s going to be a run on the dollar, a COMEX failure to honor a physical delivery of substantial tonnage of gold/silver or the implosion of yet another pillar of American finance. Or it could be an Israel/Iran event that sparks the kindling.

Hard to know how this will get started, but it most certainly feels like something very big is coming very soon:

“Dollar Reaches Breaking Point at Banks Shifting Record Reserves ”

Oct. 12 (Bloomberg) — Central banks flush with record reserves are increasingly snubbing dollars in favor of euros and yen, further pressuring the greenback after its biggest two- quarter rout in almost two decades.

Nations reporting currency breakdowns put 63 percent of the new cash into euros and yen in April, May and June, the latest Barclays Capital data show. That’s the highest percentage in any quarter with more than an $80 billion increase.

“Global central banks are getting more serious about diversification, whereas in the past they used to just talk about it,” said Steven Englander, a former Federal Reserve researcher who is now the chief U.S. currency strategist at Barclays in New York. “It looks like they are really backing away from the dollar.”

http://www.bloomberg.com/apps/news?pid=20601087&sid=aS2s2mhDVBSM

[partypup]

Okay, at the risk of being mocked, I am going to update my *chaos* prediction. Aecetia is right: I made my last prediction in early September 2008, and approximately three weeks later the market did enter a heart-pounding phase. It is only a year later that we finally discover – from Geithner and Bernanke, themselves – that the global financial system was only hours away from collapse. What I could not and did not foresee was TARP, which has managed to paper over some seismic fractures that are growing wider every day now.

However, these cracks are now reaching their breaking point. The Fed bought a year, but that year is now almost up. It really seems unlikely that any efforts by the Fed, Treasury or Congress can continue to prop up this corpse of an economy if we get hit by another rogue wave. The resistance to the dollar is now growing quite strong, and I sense that something is going to give in the next two to three weeks. There are just too many articles in global media now bemoaning the death of the dollar. When chatter reaches this level, something inevitably happens.

I don’t know if it’s going to be a run on the dollar, a COMEX failure to honor a physical delivery of substantial tonnage of gold/silver or the implosion of yet another pillar of American finance. Or it could be an Israel/Iran event that sparks the kindling.

Hard to know how this will get started, but it most certainly feels like something very big is coming very soon:

“Dollar Reaches Breaking Point at Banks Shifting Record Reserves ”

Oct. 12 (Bloomberg) — Central banks flush with record reserves are increasingly snubbing dollars in favor of euros and yen, further pressuring the greenback after its biggest two- quarter rout in almost two decades.

Nations reporting currency breakdowns put 63 percent of the new cash into euros and yen in April, May and June, the latest Barclays Capital data show. That’s the highest percentage in any quarter with more than an $80 billion increase.

“Global central banks are getting more serious about diversification, whereas in the past they used to just talk about it,” said Steven Englander, a former Federal Reserve researcher who is now the chief U.S. currency strategist at Barclays in New York. “It looks like they are really backing away from the dollar.”

http://www.bloomberg.com/apps/news?pid=20601087&sid=aS2s2mhDVBSM

[partypup]

Okay, at the risk of being mocked, I am going to update my *chaos* prediction. Aecetia is right: I made my last prediction in early September 2008, and approximately three weeks later the market did enter a heart-pounding phase. It is only a year later that we finally discover – from Geithner and Bernanke, themselves – that the global financial system was only hours away from collapse. What I could not and did not foresee was TARP, which has managed to paper over some seismic fractures that are growing wider every day now.

However, these cracks are now reaching their breaking point. The Fed bought a year, but that year is now almost up. It really seems unlikely that any efforts by the Fed, Treasury or Congress can continue to prop up this corpse of an economy if we get hit by another rogue wave. The resistance to the dollar is now growing quite strong, and I sense that something is going to give in the next two to three weeks. There are just too many articles in global media now bemoaning the death of the dollar. When chatter reaches this level, something inevitably happens.

I don’t know if it’s going to be a run on the dollar, a COMEX failure to honor a physical delivery of substantial tonnage of gold/silver or the implosion of yet another pillar of American finance. Or it could be an Israel/Iran event that sparks the kindling.

Hard to know how this will get started, but it most certainly feels like something very big is coming very soon:

“Dollar Reaches Breaking Point at Banks Shifting Record Reserves ”

Oct. 12 (Bloomberg) — Central banks flush with record reserves are increasingly snubbing dollars in favor of euros and yen, further pressuring the greenback after its biggest two- quarter rout in almost two decades.

Nations reporting currency breakdowns put 63 percent of the new cash into euros and yen in April, May and June, the latest Barclays Capital data show. That’s the highest percentage in any quarter with more than an $80 billion increase.

“Global central banks are getting more serious about diversification, whereas in the past they used to just talk about it,” said Steven Englander, a former Federal Reserve researcher who is now the chief U.S. currency strategist at Barclays in New York. “It looks like they are really backing away from the dollar.”

http://www.bloomberg.com/apps/news?pid=20601087&sid=aS2s2mhDVBSM

[partypup]

Okay, at the risk of being mocked, I am going to update my *chaos* prediction. Aecetia is right: I made my last prediction in early September 2008, and approximately three weeks later the market did enter a heart-pounding phase. It is only a year later that we finally discover – from Geithner and Bernanke, themselves – that the global financial system was only hours away from collapse. What I could not and did not foresee was TARP, which has managed to paper over some seismic fractures that are growing wider every day now.

However, these cracks are now reaching their breaking point. The Fed bought a year, but that year is now almost up. It really seems unlikely that any efforts by the Fed, Treasury or Congress can continue to prop up this corpse of an economy if we get hit by another rogue wave. The resistance to the dollar is now growing quite strong, and I sense that something is going to give in the next two to three weeks. There are just too many articles in global media now bemoaning the death of the dollar. When chatter reaches this level, something inevitably happens.

I don’t know if it’s going to be a run on the dollar, a COMEX failure to honor a physical delivery of substantial tonnage of gold/silver or the implosion of yet another pillar of American finance. Or it could be an Israel/Iran event that sparks the kindling.

Hard to know how this will get started, but it most certainly feels like something very big is coming very soon:

“Dollar Reaches Breaking Point at Banks Shifting Record Reserves ”

Oct. 12 (Bloomberg) — Central banks flush with record reserves are increasingly snubbing dollars in favor of euros and yen, further pressuring the greenback after its biggest two- quarter rout in almost two decades.

Nations reporting currency breakdowns put 63 percent of the new cash into euros and yen in April, May and June, the latest Barclays Capital data show. That’s the highest percentage in any quarter with more than an $80 billion increase.

“Global central banks are getting more serious about diversification, whereas in the past they used to just talk about it,” said Steven Englander, a former Federal Reserve researcher who is now the chief U.S. currency strategist at Barclays in New York. “It looks like they are really backing away from the dollar.”

http://www.bloomberg.com/apps/news?pid=20601087&sid=aS2s2mhDVBSM

[partypup]

[quote=Arraya]

Now think people. If the Fed and banks said that the dollar and global economy would be crushed if their books were looked at, what do we think will happen when they are. It’s going to happen in a month or so.
[/quote]

Arraya, I think your prediction is right on target. I expect something is going to give in about a month. I have also been hearing that the week of Oct 25 – Nov 4 is a *hot* date. Lots of chatter now about that time period. We won’t have long to wait.

[partypup]

[quote=Arraya]

Now think people. If the Fed and banks said that the dollar and global economy would be crushed if their books were looked at, what do we think will happen when they are. It’s going to happen in a month or so.
[/quote]

Arraya, I think your prediction is right on target. I expect something is going to give in about a month. I have also been hearing that the week of Oct 25 – Nov 4 is a *hot* date. Lots of chatter now about that time period. We won’t have long to wait.

[partypup]

[quote=Arraya]

Now think people. If the Fed and banks said that the dollar and global economy would be crushed if their books were looked at, what do we think will happen when they are. It’s going to happen in a month or so.
[/quote]

Arraya, I think your prediction is right on target. I expect something is going to give in about a month. I have also been hearing that the week of Oct 25 – Nov 4 is a *hot* date. Lots of chatter now about that time period. We won’t have long to wait.

[partypup]

[quote=Arraya]

Now think people. If the Fed and banks said that the dollar and global economy would be crushed if their books were looked at, what do we think will happen when they are. It’s going to happen in a month or so.
[/quote]

Arraya, I think your prediction is right on target. I expect something is going to give in about a month. I have also been hearing that the week of Oct 25 – Nov 4 is a *hot* date. Lots of chatter now about that time period. We won’t have long to wait.

[partypup]

[quote=Arraya]

Now think people. If the Fed and banks said that the dollar and global economy would be crushed if their books were looked at, what do we think will happen when they are. It’s going to happen in a month or so.
[/quote]

Arraya, I think your prediction is right on target. I expect something is going to give in about a month. I have also been hearing that the week of Oct 25 – Nov 4 is a *hot* date. Lots of chatter now about that time period. We won’t have long to wait.

[Author]

Posts