Busted by the Demand for Delivery, COMEX is trying to devaluate GOLD & Silver today:

Gold $870

Hahaha, this is your own personal soapbox!

I am facinated with what is happening atm with Silver/Gold and the Dollar/Bond Indexes...

Inyouropinion, what is the explanation for it happening right now as opposed to yesterday or tomorrow?

Dollar Down 2 1/2% in first 40 minutes of opening bell!!!!!

US Dollar Index Futures Spot Pr(NYBOT: DX-Y.NYB)
Index Value: 78.62
Trade Time: 10:11AM ET
Change: 2.06 (2.55%)
Prev Close: 80.683
Open: 79.719
Day's Range: 78.61 - 80.44

Timmmmmmmmmmbbbbbbbeeeeerrrrrrrrrrrrrrrr.....!!!!!!!!!

US Dollar Index Futures Spot Pr(NYBOT: DX-Y.NYB)
Index Value: 78.53
Trade Time: 10:12AM ET
Change: 2.15 (2.67%)
Prev Close: 80.683
Open: 79.719
Day's Range: 78.53 - 80.44

holy crap.....this is happening quicker than i thought.

Its not happening just right now, its been happening all along and now everything is culminating in the Death of the U.S. Economy... Embrace the Horror...lol

.............Me Too.......lol

I have been following it for a long time, I was simply wondering what is creating this significant move NOW.

I understand the bigger picture, Ijust wantto know why the sudden move.

I suspect ALL Countries are dumping Dollar and U.S. Treasuries ...hence both are plummiting.

I dumped the dollar in July and bought silver, I dont blame the other Countries.

Here we go ladies and gentlemen!

virtually zero interest rates announced by the fed..VERY POSITIVE FOR GOLD no lost interest opportunity for FUNDS TIED UP IN GOLD.....therefor no reason to not invest in it IF YOU COULD GET ANY.....

The FED ( rothschilds have given up the interest scam.)..WHICH MEANS THEY OWN ALL THE GOLD SOLD BY THE CENTRAL BANKS...and it means GOLD PRICE ROCKET ON THE LUNCH PAD.

My Take,

Sounds Plausable, good cal!!!!!!!!!!!

Sounds like another 'opportunity' for the gold/silver shorts to have another FIELD DAY !

OR, is it the shorts who are in trouble and buying back in to save their butts ?

GOT to be some truth there .

Eagle

And there are a lot of nasty attitudes.. They are the reason I own guns and have a food storage.

What do you think their attitudes will turn into when there is no food?

Scary.

We live in a world of underdeveloped human psyche.

TRADE DAY 12/17/2008 COMEX DELIVERY REPORT 12/17/2008 08:28:41
TENDERED/ACCEPTANCES GC DEC 08 SI DEC 08 HG DEC 08
DEL ACC DEL ACC DEL ACC
GOLDMAN SACHS & CO. 0 1
PRUDENTIAL BACHE COMODITIES, LLC 67 67
NFI DIVISION OF NEWEDGE USA,LLC 69 41
BANC OF AMERICA SECURITIES LLC 0 1 0 5
HSBC SECURITIES (USA) INC. 0 7
MF GLOBAL INC. 0 7 0 33
STERLING COMMODITIES CORP. 0 6
ASTRO DIVISION OF UBS SECURITIES LLC 30 3
THE BANK OF NOVA SCOTIA 10 2
TRILAND USA INC. 2 6
F C STONE L.L.C. 0 66
FORTIS CLEARING AMERICAS, LLC 15 7
BARCLAYS CAPITAL, INC. 0 9
RBC CAPITAL MARKETS CORPORATION 95 9
MITSUI BUSSAN COMMODITIES (USA), INC. 0 8
MF GLOBAL INC.-PIONEER DIVISION 0 10
TOTAL 25 25 263 263
=============================================================​=============================================================​=================
CUMULATIVE NOTICES
Gold 13,043
Silver 5,943
Copper 2,898

Dollar reach the LOD and headed South

US Dollar Index Futures Spot Pr(NYBOT: DX-Y.NYB)
Index Value: 78.55
Trade Time: 4:51PM ET
Change: 2.13 (2.64%)
Prev Close: 80.683
Open: 79.719
Day's Range: 78.52 - 80.44
52wk Range: N/A

Dollar hits LOD
US Dollar Index Futures Spot Pr(NYBOT: DX-Y.NYB)
Index Value: 78.51
Trade Time: 4:55PM ET
Change: 2.17 (2.69%)
Prev Close: 80.683
Open: 79.719
Day's Range: 78.51 - 80.44
52wk Range: N/A

Blowing past LOD (Low of Day)

US Dollar Index Futures Spot Pr(NYBOT: DX-Y.NYB)
Index Value: 78.48
Trade Time: 4:58PM ET
Change: 2.20 (2.73%)
Prev Close: 80.683
Open: 79.719
Day's Range: 78.48 - 80.44
52wk Range: N/A

Dollar No Longer Haven After Fed Moves Rate Near Zero (Update2)
Email | Print | A A A

By Kim-Mai Cutler and Bo Nielsen

Dec. 17 (Bloomberg) -- The world’s biggest currency-trading firms say the dollar’s appeal as a haven amid the financial crisis all but evaporated.

The U.S. currency slid to a 13-year low against the yen today and had its biggest one-day decline versus the euro after the Federal Reserve reduced its target interest rate yesterday to a range of zero to 0.25 percent, the lowest among the world’s biggest economies. CMC Markets said today the currency’s prospects appear “ominous.” State Street Global markets said the dollar’s outlook has been “undermined.”

“The dollar has been under heavy downward pressure,” said Robert Minikin, a senior currency strategist in London at Standard Chartered Bank Plc. “This move is very well-justified and has a long way to run.” Standard Chartered is preparing to cut its dollar forecasts, Minikin said.

Yesterday’s rate cut brings the Fed’s target to below the Bank of Japan’s for the first time since January 1993. U.S. policy makers repeated plans to buy agency debt and mortgage- backed securities and said they will study buying Treasuries, a policy known as quantitative easing.

The dollar fell to 87.14 yen, the lowest since July 1995, before trading at 87.45 yen as of 3:51 p.m. in New York, from 89.05 yesterday. It depreciated to $1.4437 per euro from $1.4002 and traded at $1.4366, the weakest since Sept. 30.

‘Ominous’ Outlook

The dollar is likely to decline “longer term,” analysts including New York-based Ashraf Laidi at CMC Markets wrote in a report. “Prospects ahead appear particularly ominous for the world’s reserve currency once global economic stability starts to build up.”

The Fed’s debt purchases will cause the dollar to weaken to $1.4860 per euro, analysts led by Robert Sinche, New York-based head of global currency strategy at Bank of America Corp., wrote in a report yesterday. The Fed reduced the scarcity of dollars and investors slowed the deleveraging process, which drove the currency to a 2 1/2-year high against the euro in October, Sinche said.

“Those temporary supports for the dollar appear to have eroded,” Sinche wrote. “Aggressive quantitative easing by the Fed should add to U.S. dollar supply globally and undermine the value of the dollar.”

State Street Global Markets, a unit of the world’s largest money manager for institutions, said the Fed’s move is “perilous” for the dollar as investors accumulated an “extreme” long position on the currency, or bets it will climb.

Record Low Yields

“This implies a significant potential for a dollar unwind if the real money community attempts to chase price,” Hong Kong-based strategist Dwyfor Evans wrote today in a report. The shift toward quantitative easing “has undermined the U.S. dollar significantly over recent weeks.”

The dollar’s decline against the euro compares with a similar move in the early 1990s, indicating the U.S. currency may weaken to a record low of $1.65 late next year, Citigroup Inc. strategists Tom Fitzpatrick in New York and Shyam Devani in London wrote in a research note.

“If it walks like a duck and talks like a duck … it’s a duck,” Fitzpatrick and Devani wrote. “The dollar walks and talks like a currency going back into its bear market.”

The dollar declined 11 percent against the euro and 8 percent against the yen this month as yields on two-, five-, 10- and 30-year Treasuries fell to record lows, encouraging investors to look outside the U.S. for higher returns.

“The dollar is going to struggle while it has low yields,” said Roddy MacPherson, the Edinburgh-based head of currency strategy at Scottish Widows Investment Partnership Ltd., which manages the equivalent of $152 billion. “We’re looking to add to our short dollar position if U.S. yields continue downward.”

UBS Stays Bullish

MacPherson said he moved toward a short dollar position, or a bet it will depreciate, against the euro in the past four days. The currency may end next year at $1.40 per euro, he said.

For UBS AG, the world’s second-largest foreign-exchange trader, demand for cash amid the freeze in bank lending will support the currency. The Libor-OIS spread, a gauge of cash scarcity favored by former Fed Chairman Alan Greenspan, was at 140 basis points today, or about 14 times its average in the five years before the credit crisis began.

“There is still a premium on liquidity, which will be supportive to the dollar even in the current environment,” said Geoff Kendrick, a senior strategist in London at UBS.

Goldman Sachs Group Inc. said investors can profit from the dollar’s decline by selling the currency for its Canadian counterpart.

The U.S. currency’s drop is becoming “broader-based,” Jens Nordvig, a New York-based strategist for the U.S. securities firm, wrote today. “Temporary dollar demand from deleveraging and funding flows has come to an end. The prospect of aggressive quantitative easing is starting to have a significant negative impact on the dollar.”

To contact the reporters on this story: Kim-Mai Cutler in London at [email protected]; Bo Nielsen in Copenhagen at [email protected]

Last Updated: December 17, 2008 15:57 EST

[link to www.bloomberg.com]

It is nice taking a stroll down doomstreet as long as you put on your boots and are wearing a raincoat...

This has been a good thread all the way through op.

Are the silver deliveries zero again today?

They should give everybody 10 OZ of gold and let them issue their own fiat currency.

US Dollar Index Futures Spot Pr(NYBOT: DX-Y.NYB)
Index Value: 78.43
Trade Time: 7:49PM ET
Change: 2.25 (2.79%)
Prev Close: 80.683
Open: 79.719
Day's Range: 78.37 - 80.44
52wk Range: N/A

Starting thursday off nicely...lol

US Dollar Index Futures Spot Pr(NYBOT: DX-Y.NYB)Index Value: 78.45
Trade Time: 12:13AM ET
Change: 0.46 (0.58%)
Prev Close: 80.683
Open: 79.719
Day's Range: 78.45 - 78.48

US Dollar Index Futures Spot Pr(NYBOT: DX-Y.NYB)
Index Value: 78.45
Trade Time: 12:13AM ET
Change: 0.46 (0.58%)
Prev Close: 80.683
Open: 79.719
Day's Range: 78.45 - 78.48
52wk Range: N/A

US Dollar Index Futures Spot Pr(NYBOT: DX-Y.NYB)
Index Value: 78.42
Trade Time: 12:21AM ET
Change: 0.49 (0.62%)
Prev Close: 80.683
Open: 79.719
Day's Range: 78.41 - 78.46
52wk Range: N/A

Like a brick...

I hear coins clanging when I see this thread pop up...

How deflation creates Hyperinflation
by Eric deCarbonnel

I keep reading about the dollar being a "new multi-year bull market" and that the US is headed for "Japan style deflation". Frankly, it is a little tiring. The people making these arguments should know better.

Deflation VS Hyperinflation

Yes, there is debt deflation, and the overall money supply is shrinking as a result. However, those calling for "multi-year bull market" for the US dollar are insane. These individuals need to review basic monetary theory. The money supply is only one of three factors that determine whether prices rise or fall. The other two are the changes in the velocity of money and the real output of the economy. The danger of hyperinflation lies in a dramatic increase in the velocity of money due to a loss of confidence, not in changes in the money supply.

Confidence and the velocity of money

When confidence in an issuing authority crumbles, money starts flowing through the economy at a feverish pace. For example, in normal, noninflationary times the money supply might be equivalent to three months of output, but in a period of hyperinflation it might drop to two weeks worth of output. Since increases in the velocity of money have the same impact on prices as increases in the money supply, a 1000% increase in the velocity of money (typical in any period of hyperinflation) is equivalent to a 1000% increase in the money supply. Due to its effects on the velocity of money, the ebb and flow of confidence have a much greater impact on the short-term trend of prices then changes in the money supply.

Deflation can create Hyperinflation

It is no accident that many of the worst periods of hyperinflation are preceded by deflation. In fiat currencies with high levels of government debt, severe cases of deflation cause a loss of confidence in the nation's currency by shrinking the economy and making the government's debt appear increasingly unsustainable. The loss of confidence then causes the flow of money to speed up as individuals become desperate to exchange cash for real goods as fast as possible, producing hyperinflation.

As an example of deflation leading to hyperinflation, consider the case of the Weimar Republic. In 1920, Germany experienced a deflationary collapse, with the average citizen finding it harder and harder to get enough money for necessities. Banks, short of money, could not honor checks, and businesses were strapped for cash to buy materials and meet payroll. Fearing a collapse that would throw millions of workers out on the street, the German government desperately printed money in an attempt to re-inflate the economy. During this period, despite the government's money printing, the mark actually gained in value against foreign currencies, so that prices of imported goods fell by some 50%.

Eventually, as a result of the money supply's rapid expansion, the nation's massive foreign debt, and the shrinking economy, German citizens lost all confidence in their currency, and the Weimar Republic experienced one of the worst cases of hyperinflation in modern economic history. Billions of hoarded marks came out of hiding and entered the marketplace. The chart below tells the rest of
the story

more...
[link to www.marketskeptics.com]
click on the link for a neato graph as to where we are compared to the Weimar Germs

Im thinking that it will be a small window to cash in gold, you gotta time it right. Dont get to greedy ;) Look how fast it happened in Germany... How fast can it happen with todays technology... ???

Dollar Making a HUGE PLUNGE South!!!

US Dollar Index Futures Spot Pr(NYBOT: DX-Y.NYB)
Index Value: 78.24
Trade Time: 12:26AM ET
Change: 0.67 (0.85%)
Prev Close: 80.683
Open: 79.719
Day's Range: 78.24 - 78.46
52wk Range: N/A

[link to www.youtube.com]

like this :)


Im all right Jack
keep your hands off of my stack

Grab that cash with both hands
and make a stash

money

so they say...

is the

root of

all evil

today