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Spot gold surges more than 3 percent to over $1,030
Kitco ^ | 17 March 2008 | staff

Posted on 03/16/2008 8:05:57 PM PDT by shrinkermd

If things continue this way, St. Pats day will be remembered as the crash day. Hope for better but with the Asian markets down 2-5%, it is hard to imagine a good day tomorrow.

(Excerpt) Read more at kitco.com ...


TOPICS: Business/Economy; Politics/Elections
KEYWORDS: endofthedollar; gld; gold; stockmarkets; stpatricksmassacre
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1 posted on 03/16/2008 8:05:58 PM PDT by shrinkermd
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To: shrinkermd

St. Patricks Day massacre?


2 posted on 03/16/2008 8:08:28 PM PDT by Proud_USA_Republican (We're going to take things away from you on behalf of the common good. - Hillary Clinton)
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To: shrinkermd

I agree its been flirting with a major crash in recent months could be hugh and series Buy pepto


3 posted on 03/16/2008 8:09:06 PM PDT by al baby (Hi mom)
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To: shrinkermd

4 posted on 03/16/2008 8:10:43 PM PDT by AdamSelene235 (Truth has become so rare and precious she is always attended to by a bodyguard of lies.)
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To: al baby

There you go again. Three percent is, well, 3%. Given your losses, I hope you’re not near any open windows above three stories.


5 posted on 03/16/2008 8:11:22 PM PDT by Mad_Tom_Rackham ("The land of the Free...Because of the Brave")
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To: shrinkermd

It’s a bit easier to imagine a good day tomorrow if you’re one of those nutty gold bugs.


6 posted on 03/16/2008 8:12:32 PM PDT by coloradan (The US is becoming a banana republic, except without the bananas - or the republic.)
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To: Mad_Tom_Rackham

Hey go to your room


7 posted on 03/16/2008 8:12:39 PM PDT by al baby (Hi mom)
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To: AdamSelene235

LOL!!! What’s with the gators?


8 posted on 03/16/2008 8:12:46 PM PDT by Proud_USA_Republican (We're going to take things away from you on behalf of the common good. - Hillary Clinton)
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To: shrinkermd

You think that the Asian markets being down 2-3% and Gold up 3% is going to mean a major crash? Ha!

If there was going to be a crash, the Asian markets would be down many times what they are now.


9 posted on 03/16/2008 8:13:32 PM PDT by furquhart (John S. McCain for President)
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To: coloradan

my daddy bought pounds and pounds of it before y2k and was to lazy to sell it back after and still has it lucky lazy sob


10 posted on 03/16/2008 8:14:03 PM PDT by al baby (Hi mom)
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To: al baby
Do you spend every night watching reruns of horror movies? This can be bad for one's mental health. :O)
11 posted on 03/16/2008 8:15:00 PM PDT by Mad_Tom_Rackham ("The land of the Free...Because of the Brave")
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To: Proud_USA_Republican
LOL!!! What’s with the gators?

I believe from left to right those are the IRS, inflation, and Chairman Bernanke.

12 posted on 03/16/2008 8:15:49 PM PDT by AdamSelene235 (Truth has become so rare and precious she is always attended to by a bodyguard of lies.)
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To: shrinkermd

Glad I bought GLD friday instead of Bsc


13 posted on 03/16/2008 8:16:09 PM PDT by omega4179 (let this be the week of the hussein keyword)
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To: AdamSelene235

14 posted on 03/16/2008 8:16:52 PM PDT by Publius (A = A)
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To: shrinkermd

15 posted on 03/16/2008 8:19:07 PM PDT by Publius (A = A)
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To: omega4179

wow. good call.


16 posted on 03/16/2008 8:20:29 PM PDT by Proud_USA_Republican (We're going to take things away from you on behalf of the common good. - Hillary Clinton)
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To: AdamSelene235

Nope - the one on the right’s the IRS - biggest mouth.


17 posted on 03/16/2008 8:20:50 PM PDT by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
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To: Mad_Tom_Rackham

you have freep mail


18 posted on 03/16/2008 8:21:12 PM PDT by al baby (Hi mom)
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To: Publius

Dang, but you’re good!


19 posted on 03/16/2008 8:21:36 PM PDT by cowdog77 (Circle the Wagons)
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To: DuncanWaring

I agree. I was doing my taxes today. I was in a death roll with short term capital gains today.


20 posted on 03/16/2008 8:22:26 PM PDT by Proud_USA_Republican (We're going to take things away from you on behalf of the common good. - Hillary Clinton)
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To: Publius

...where was that photo taken?....it’s quite powerful.


21 posted on 03/16/2008 8:22:43 PM PDT by STONEWALLS
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To: AdamSelene235

Remember the Chinese Yuan is effectively pegged to the dollar - that cartoon could just as easily (and every bit as accurately), be Chinese running from the RMB to gold...

Korean Won as well.

Koreans running from the Won, across that footbridge?

In fact, perhaps it’s not so much that the dollar is having any sort of crisis - perhaps the Euro and Yen are being cleverly manipulated by Karl Rove into a massive hysteria-induced bubble designed to wreck European competitors... :)

Just saying.


22 posted on 03/16/2008 8:23:14 PM PDT by Cringing Negativism Network
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To: STONEWALLS
It's Photoshop.

Whenever someone says that precious metals are useless and lead is a better investment, I post that picture. If "brass and lead futures" are the only investment that counts, what will you do with those futures if this ever comes to pass? Rob the gas station?

I like to make people think.

23 posted on 03/16/2008 8:25:43 PM PDT by Publius (A = A)
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To: STONEWALLS; Publius

>>...where was that photo taken?....it’s quite powerful.

At the intersections of PC and Photoshop.


24 posted on 03/16/2008 8:26:52 PM PDT by FreedomPoster (Guns themselves are fairly robust; their chief enemies are rust and politicians) (NRA)
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To: Publius

They could trade such to people that would.


25 posted on 03/16/2008 8:27:25 PM PDT by omega4179 (let this be the week of the hussein keyword)
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To: STONEWALLS; Publius
There's probably a website much like this one where you can make up your own sign. http://churchsigngenerator.com/


26 posted on 03/16/2008 8:29:25 PM PDT by diverteach (http://foolishpleasurestudio.com/eyewool/slap_hillary.html)
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To: diverteach

LOL


27 posted on 03/16/2008 8:30:30 PM PDT by diverteach (http://foolishpleasurestudio.com/eyewool/slap_hillary.html)
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To: omega4179
Year$ of gold mining on every vacation, and not one gram $old.
I'll wait ju$t a little while longer. :-)
28 posted on 03/16/2008 8:32:28 PM PDT by MaxMax (I need a life after politics)
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To: MaxMax

Gold is a hold! Good luck.


29 posted on 03/16/2008 8:34:40 PM PDT by omega4179 (let this be the week of the hussein keyword)
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To: shrinkermd
Now that makes my decision to buy a rifle...cheap. (yeah that's it)
30 posted on 03/16/2008 8:42:44 PM PDT by endthematrix (He was shouting 'Allah!' but I didn't hear that. It just sounded like a lot of crap to me.)
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To: diverteach; Publius

thanks guys!


31 posted on 03/16/2008 8:45:43 PM PDT by STONEWALLS
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To: coloradan
Platinum and palladium, ok too!
32 posted on 03/16/2008 8:46:26 PM PDT by Bogie
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To: DuncanWaring

The beautiful thing about inflation is not only are your savings and standard of living destroyed but you get to move up to a higher tax bracket as well!


33 posted on 03/16/2008 8:51:59 PM PDT by AdamSelene235 (Truth has become so rare and precious she is always attended to by a bodyguard of lies.)
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To: AdamSelene235

Hey, it’s only paper.


34 posted on 03/16/2008 8:53:07 PM PDT by Bogie
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To: shrinkermd

In the short run: Gold was much higher, in constant dollars, when it reached $800 in 1980. By a factor of—what?—about three?

In the long run: We have been on pure fiat money since 1971. The only way any country has ever transitioned from fiat money to real money is through a hyperinflation—i.e., the fiat paper money’s value as money eventually equals its value as a commodity. Thus, our paper money will eventually be affordable as fuel for the barbecue.

The only person in political office today who is speaking the truth about the nature of money is Ron Paul. Thus, no one who matters will sound any warnings, or do anything to avert the hyperinflation that is coming.

BTW: I got a silver dime in my change at the 7-Eleven a couple of days ago. It stuck out like a sore thumb, and sure enough, the date was 1959. Looks practically uncirculated. Weird.


35 posted on 03/16/2008 8:59:15 PM PDT by Arthur McGowan
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To: AdamSelene235
"The beautiful thing about inflation is not only are your savings and standard of living destroyed but you get to move up to a higher tax bracket as well!"

And even more beautiful, the dems want to increase taxes to "help" the economy. Keeps all that nasty $ out of the public hands, you know.

36 posted on 03/16/2008 9:00:50 PM PDT by boop (Democracy is the theory that the people get the government they deserve, good and hard.)
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To: Mad_Tom_Rackham

I am long on rope.


37 posted on 03/16/2008 9:02:49 PM PDT by BurbankKarl
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To: AdamSelene235

As the Jimmy Carter character on Saturday Night Live said, “Inflation is your friend! With enough inflation for long enough, everyone will be a millionaire!”.


38 posted on 03/16/2008 9:04:43 PM PDT by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
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To: Arthur McGowan
Looks practically uncirculated. Weird

Probably kids getting into Uncle Charlie's coin collection.

39 posted on 03/16/2008 9:05:45 PM PDT by MaxMax (I need a life after politics)
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To: shrinkermd

Some action, yes, but not really a surge.

A surge will be when the price is changing two or three hundred dollars per day. (up or down!)
There are literally trillions of dollars and euros and whatever else you might have worldwide that are looking for a safe haven.

If gold ever gets seen as that safe haven, the price could go to the five digit range.


40 posted on 03/16/2008 9:06:30 PM PDT by djf (She's filing her nails while they're draggin the lake....)
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To: Arthur McGowan

Hang on to it! That dime is worth about 1.50 for the silver melt value.

Soon, that thin dime might buy you a gallon of gas.


41 posted on 03/16/2008 9:08:21 PM PDT by djf (She's filing her nails while they're draggin the lake....)
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To: djf
If gold ever gets seen as that safe haven, the price could go to the five digit range.

...by 2157. Count on it.

42 posted on 03/16/2008 9:10:04 PM PDT by period end of story
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To: djf

A quarter already will. Just like it did in 1959.


43 posted on 03/16/2008 9:10:50 PM PDT by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
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To: Publius

Last night’s news had a story on folks selling their gold stuff to the gold and coin dealers to buy gas. One gal had a coin from her grandma that she sold so she could pay her rent.


44 posted on 03/16/2008 9:11:25 PM PDT by geopyg (Don't wish for peace, pray for Victory.)
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To: Arthur McGowan

some junkie uesd it to help buy some beer


45 posted on 03/16/2008 9:12:41 PM PDT by al baby (Hi mom)
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To: BurbankKarl

I’m long on tar. Oh and feathers too.


46 posted on 03/16/2008 9:15:26 PM PDT by sharkhawk (Here come the Hawks)
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To: geopyg

As the price of gold rises and the price of real estate collapses, in a few years a roll of 20 one-ounce gold coins will buy you a house free and clear.


47 posted on 03/16/2008 9:16:28 PM PDT by Publius (A = A)
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To: furquhart
If there was going to be a crash, the Asian markets would be down many times what they are now.

If you can keep your head when all those about you are losing theirs ... then you don't understand the situation!

48 posted on 03/16/2008 9:21:25 PM PDT by dr_lew
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To: shrinkermd
The race is on.

Slaughter in the streets...the smell of blood everywhere.

Cash is the only place to be...where's yours?

49 posted on 03/16/2008 9:22:47 PM PDT by Mariner
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To: Arthur McGowan
I got a silver dime in my change at the 7-Eleven a couple of days ago. It stuck out like a sore thumb, and sure enough, the date was 1959. Looks practically uncirculated. Weird.

People cash in hoards of change when they are having tough times, and often do not look for the silver. Either that, or someone's coin collection got raided for change...

50 posted on 03/16/2008 9:22:53 PM PDT by Smokin' Joe (How often God must weep at humans' folly.)
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