Highly Unusual Gold-Dollar-Stock Movements - Impending Collapocalypse!!

[HotRocks]

Up seven-bucks already today... wwaaaaaaiiiittt for it...

[SoundSquirrel]

Pardon my ignorance, but wouldn't gold going up be a natural response to the brown breeze we're all feeling, and the stock thing a result of all the artificial manipulation the feds have been doing?  Isn't that former link between gold and the US dollar/stocks kinda moot if the dollar and stock market are being manipulated this way?  I'm a peasant and my gold is very limited, like I even see any once or twice a year except for what I got for my wedding.  I bet this will be important when the electronic transfers I get paid in won't even work for compost.   <tugs nervously on her earrings and wedding ring and hopes we don't go back to metals before she can get some saved up>

[HotRocks]

HHOOOOLLL-LLLLEEEEE  SHIT!!!   Hong Kong recalls all of its physical gold from London

From the comments, which as per the usual, are awesome:  I think a better way to phrase the sentiment of this news is "Hong Kong demands physical delivery." This is going to be one of those classic examples of what Buffett means when he says that when the tide goes out, you see who was swimming naked." 

Yup, this could be the beginning of the end for the paper market.

Pardon my ignorance, but wouldn't gold going up be a natural response to the brown breeze we're all feeling, and the stock thing a result of all the artificial manipulation the feds have been doing?  Isn't that former link between gold and the US dollar/stocks kinda moot if the dollar and stock market are being manipulated this way?  I'm a peasant and my gold is very limited, like I even see any once or twice a year except for what I got for my wedding.  I bet this will be important when the electronic transfers I get paid in won't even work for compost.   <tugs nervously on her earrings and wedding ring and hopes we don't go back to metals before she can get some saved up>

And you're totally right, you're cutting even harder to the heart of the matter - a loss of confidence is the single biggest force behind the rise in gold prices.  That usurps any talk of inflation or deflation, the rest of the world losing confidence in our government and its currency is going to rocket-launch gold.

[Rival]

Hong Kong wants all of the physical gold that London claims to have in vaults... they open up the vaults and find not physical metal, but stacks of IOU's. So they have to run to the markey and buy enough physical to hand over... and the price spikes. The few vaults that actually contain physical metal do not want to part with it at any price. At this point, no shuffling of IOU's from one central bank to another can provide physical metal that just is'nt there.

Woe to he who does not hold the yellow metal in their hands.

[MrResponsibility]

It's an assumption that the gold is in London.  And, it's only $63 million.  That seems like only a drop in the bucket.  If it were billions, I would be worried that London or whomever may not be able to come up with the gold.  But, this little bit shouldn't be a problem.  If it is, then WOW!

It is interesting that they want to keep their gold closer to home.  As others follow suit, we may see some serious fraud uncovered.

[HotRocks]

This transaction alone might not uncover the fraud, but it could be the tiny little string on the edge of a huge sweater - all it takes is for ten-pounds of that gold to not be where the paper says that it is.  And if other nations follow this example, it'll almost certainly create a panic.

[Rival]

Well, it was $63 million yesterday morning before they decided to take delivery. Now it is $69 million. Nice profit for simply asking for delivery. I would not be suprised if other nations try this trick.

Step #1 Demand delivery
Step #2 The price spikes
Step #3 Profit!

[HotRocks]

...already up $10 today!!  VIVA LA COLLAPOCALYPSE!!!

[alan2102]

Hong Kong wants all of the physical gold that London claims to have in vaults... they open up the vaults and find not physical metal, but stacks of IOU's.

"But, but the IOU SAYS that they'll give us the gold on demand!"

"What do you MEAN they can't get the gold?!?!"

"But they SAID they would! They.... they... I mean, they......."

....................................

BWAAAAHAHAHAHAHAHAHAHA!

 

[HotRocks]

And just since those Chinamen are so wiley, I wonder if this is meant to nudge whatever huge US bank failure that's been rumored about over the edge.  Depending on how far this ratty sweater stretches, pulling on this thread might help unravel a large chunk of our banking system.  This move didn't happen without the Chinese government's approval, and perhaps at their behest. 

[Grower]

And the Chinese seemed real happy last night -- up almost 5%. Course, that might be those IMF bonds they bought talking.

[Candace66]

Gold!...................*yawn*

Gold!.................*Mmmmm* 

[HotRocks]

I mean, I don't know about you guys - but I'd much rather put my money in our awesomely transparent and clearly legitimate stock market!!

It's not like 1/4 of the action is in zombie shares or anything!!

[lowem]

I'd say. That's as good a trigger event as any to explain the over $30 gold price rise in the last 24 hours.
Now it's apparently giving the $1000 level a good run, well, for the money.

[HotRocks]

GO LITTLE GREEN LINE, GO!!!!!!