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Old 09-30-2013, 01:15 PM   #1
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.gov Shutdown Gold Thread

...

We recently came back from vacation in Wyoming and three neighboring states (and I was able to get 0.75 oz of Au!).

Today I went to the bank and pulled out two grand. Every single "event" nowadays pushes me to stack more cash & gold. Last time they "shut the government down" very little happened. I am glad, however, that we saw the National Parks when we did, as I just heard they will shut the Parks down to visitors... Shut down stuff people enjoy, but the IRS will keep working, "essential employees" evidently...

Very little seems to have happened to "paper gold" prices in the past weeks. Nothing much seems to be happening today, hours before .gov goes to sleep.

Thoughts?
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Old 09-30-2013, 02:05 PM   #2
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Nobody really believes the government is going to be shut down. This is Kabuki Theater. I just heard that even if they do shut it down it's only about half of the government going on paid vacation, which is still twice the government we had before Obama was elected.
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Old 09-30-2013, 05:36 PM   #3
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its not really worth putting energy into this.

the ceiling is not there in reality.

the only thing they can do is to keep printing.

the discussion should be about what will cause printing to stop.
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Old 10-01-2013, 08:37 AM   #4
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This morning- the power ran- stores open- bank open. Seems fine to me.
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Old 10-01-2013, 10:19 AM   #5
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Originally Posted by Penn View Post:
This morning- the power ran- stores open- bank open. Seems fine to me.
I still have power too and my TV is working!! The media is reporting that the courts won't be able to do marriage ceremonies during the shutdown so there could be mass protests in San Francisco which will be hard for Nancy Pelosi to ignore. I also heard they closed the Smithsonian Museum which is causing AARP to go nuts. They are bussing in some 80 year olds from Florida to sit in lawn chairs and hold up signs demanding that they be allowed in. This could get really interesting.
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Old 10-01-2013, 10:51 AM   #6
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Think the Fed might goose the markets down a bit to add pressure on .gov? It really wouldn't surprise me at all.
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Old 10-01-2013, 11:00 AM   #7
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Originally Posted by PMBug View Post:
Think the Fed might goose the markets down a bit to add pressure on .gov? It really wouldn't surprise me at all.
Good thought. When you have trillions of dollars on your balance sheet, and a completely opaque system, you wouldn't have to do very much selling to get Republicans to completely fold and run for cover. Are there any democrats working at the Fed?
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Old 10-03-2013, 08:26 AM   #8
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Originally Posted by PMBug View Post:
Think the Fed might goose the markets down a bit to add pressure on .gov? It really wouldn't surprise me at all.
lol. Nothing to see here. <TPTB (PPT) waves it's invisible hand>

Quote :
Remember when the CME and the administration punished speculative gold longs in 2011, and crude longs in 2012 by hiking or warning to hike margins beyond the breaking point for levered holders of futures contracts? It works for stocks as well. Last night, the CME may have taken Obama's warning to the market a little too seriously, and announced a hike in the core E-Mini futures contracts of about 9% across the board for initial and maintenance margin requirements. Has Obama officially launched a war on Wall Street until it plunges to prove to Republicans just how serious "all this" is?
...
http://www.zerohedge.com/news/2013-1...mini-futures-9
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Old 10-03-2013, 10:58 AM   #9
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Originally Posted by PMBug View Post:
Think the Fed might goose the markets down a bit to add pressure on .gov? It really wouldn't surprise me at all.
Obama just did an interview on CNBC and goosed the markets down with a sledgehammer.

Nice to know that winning, even if it tanks the eonomy, is the highest priority of the President.. excuse me I meant whinning..

Last edited by Aubuy; 10-03-2013 at 02:20 PM.
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Old 10-04-2013, 10:48 AM   #10
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http://www.marketwatch.com/story/why...ist=lcountdown

If gold is a relic of little value, why doesn't the Treasury sell of all of the gold holdings to pay for debt obligations during this shutdown/debt ceiling issue?

"The Treasury’s position is, in a word, extraordinary. We hear all this skepticism these days about gold. Yet the Treasury itself considers U.S. gold holdings to be a key element in maintaining confidence in the country’s soundness—and the stability of the international financial system.

I thought gold was a joke. Totally over. I thought no one cared about gold. But if that were really the case, why wouldn’t the government just dump the holdings for whatever it could get?"

"They’d rather default than lose their bullion."

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Old 10-04-2013, 11:32 AM   #11
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Tradition!
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Old 10-04-2013, 11:36 AM   #12
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Originally Posted by Aubuy View Post:
...
Nice to know that winning, even if it tanks the eonomy, is the highest priority of the President.. excuse me I meant whinning..
I think there are multiple factions on The Hill that are going full Machiavelli right now. They are trying to achieve different ends though.

Believing as I do that the economy is going to crash one way or the other (with or without raising the debt ceiling / ending the .gov shutdown), I'd prefer that it's carnage at least achieve some worthwhile purpose. If it gets Congress to finally address meaningful entitlement reform - attacking the mandatory spending part of the budget once the debt ceiling holds strong - it just might be worth it. Sorry folks, credit card is closed. Moose out front should have told ya.
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