iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
20,414 Blog Posts

The Way this Ends is in a River of Blood and Tears

The most derided and mocked industry in the history of Wall Street is the gold sector. I’ve often discussed this and chided those who equated bulls to be insects, incorrectly comparing the returns of a defacto currency to the SPY. The fact of the matter is, since 2000, when this shit all started, gold is up nearly 10 fold. What has your fucking dollars done lately?

Also, with profligate spending coupled with societal collapse and violence, one can only assume, given the trajectory of things, ALL CURRENCIES WILL COLLAPSE, starting with the US dollar. We deserve it. After all, George “The Racist” Washington is on the face of the $1 bill.

In a revolutionary scenerio and political change, you should expect your savings to be decimated by a collapse in the dollar. At first slow, and then right away. You’d be wise to start diverting assets away from dollar denominated assets and into cryptos and gold now.

Worst case scenario, you have a liquid asset that holds its value. Best case scenario, you get to vampire your neighbors and buy everything at yard sale prices, post collapse.

Here’s a chart of gold. If you say MuH “SPY DONE DID BETTER” — I will hammer your fucking face until nothing is left.

Also, go fuck yourself.

Long NUGT.

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36 comments

  1. trumpmeister

    Weak trade. Will shortly get annihilated again.

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  2. narcist

    You might can’t accept “SPY DONE DID BETTER” if you ain’t from the ex-Confederacy, but that’s considered proper grammar in the Dixie region.

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  3. fxtradepro

    Indeud

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  4. peaches

    Yes Dr. Fly!

    YES.

    YES.

    YESSSSSSS.

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  5. soupbone

    NUGT is still a US dollar-based financial ‘device’, for lack of the proper term at the moment. If and when the scenarios from paragraph 2 onward play out what will become of NUGT?

    Even the physical gold choices that are supposed to be physically distanced from the financial system are questionable in a way.

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  6. narcist

    https://www.dailymail.co.uk/news/article-8443507/Trump-campaign-CANCELS-Presidents-speech-Tulsas-outdoor-crowd-claiming-radical-protesters.html

    They claim MOAR THAN ONE MILLION tickets requested (by who?).

    Then they filled about half of the 19000-seat stadium.

    Sounds about right if one follows the Mushroom Penis measurements.

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    • narcist

      It would have been nicer if he at least managed to get the stadium filled so his esteemed attendees could bring the bug home for their families.

      No luck this time.

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      • ericbakerbruce

        how’s that summer festival in Seattle going sissyboy?

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        • narcist

          Go seek mental help. Your obsession with homosexuality is getting worse.

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          • ericbakerbruce

            narcist, the disengenuous cocksucker, also seems to have a fragile ego.

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          • narcist

            Oh yeah? Or is that your projection?

            That gay shit is uncalled for and sometimes just a bit much.

            LGBTQI is all nice and good but your comments about cocks and touching men should be kept to youself.

            I don’t call my junk a cock. It’s a fat dick that your wife who you haven’t fucked for months craves.

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          • cll

            damn

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          • cll

            eric outta get a room with wolfdaddy and doodoo dive each other

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          • narcist

            I think I saw that they got thru all the invisible antifas and joined the other 6200 attendees to fill the 19000-seat stadium in Tulsa:

            https://pasteboard.co/JedLXWB.png

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    • bob smith

      A good portion of the audience were Trumps illegitimate rugrats. The rest were hired antifa members bussed in from Detroit.

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      • narcist

        I still don’t see how Antifa is scary to the soccer moms.

        Quite sure Frank Luntz would advise the GOP incumbents to stick with the MS-13 boogiemen.

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  7. purdy

    I bought GDX in Friday’s pre-mkt and sold half pennies off of the high of the day when I recognized that I felt like a genius for buying when I did. Anyway, I’m long silver, a streamer, and some GDX, but I went very short the market on Friday.

    When the market decides to go south, PMs, after perhaps getting some initial interest, usually don’t do well either. Could be different this time …this is the first end of empire/currency collapse I’ve traded.

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    • peaches

      Gold held up pretty well in March. Bounced right back while stocks took weeks.

      I own physical in case that’s the case.

      But I’m waiting on a pullback back below 1600 before I make leveraged bets or touch the miners.

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      • bob smith

        There has never been a year since at least 1995 when gold did NOT get oversold on a weekly chart. Six months into this year, it still hasn’t happened but I suspect it will.

        When the market tanks in earnest, so will the miners (again) and this will be the time to go all in. I’m waiting too.

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  8. paper is better

    Gold is about to get hammered through the floorboards, sent straight back to hell.

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    • paper is better

      That’s when you buy it… not here…. IMO………………..

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  9. juice

    Love the gold negativity here, which means, even though I’m double-heavy GLD calls, I will have to double that and go in like a young Soros, for the kill and FTW.

    Thanks for playing, plebs.

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    • peaches

      Yup. That’s America. We have got to be the people who have finally pulled off debasement with no consequences.

      There might be a pullback. There’s no reason to be fully invested in gold but anyone who owns *none* should turn down the Van Halen and give the cocaine a break.

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      • soupbone

        I feel the disconnect between traders, insurers and gold gathers in the discourse here. Not everyone is speaking the same language nor has remotely similar goals;

        traders: NUGT, GDX etc
        insurers: shares of physical yet tradeable
        odd balls: actual bars and coins stashed

        There’s ex-pat German folk around this area storing bars and coins. They also have acreages with big runs of fence, deer and other animals. They have wells, bunkers and who knows what.

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  10. moosh

    Good lord…i think Dr fly just found a honey hole on Twitter triggering tiktokers, lol

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    • peaches

      1933 gold seizure is nonsense. There were less than a handful of actual people Who had their gold confiscated, they were all fabulously wealthy and the majority were Eastern European immigrants.

      Also factor in the value of that gold of today’s dollars.

      You really think police are going to knock on doors all over America and try to take gold bullion off of people? The amount of police will be shot at point blank range with shotguns is not worth the cost of confiscating a few ounces of gold.

      But by all means bug out… everyone else is doing it!

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    • peaches

      Think of the government expenses that will be incurred shoving intestines back into police officers tummies. It’s simply not cost effective. It never happened.

      It melts. It can be dissolved and stored in glass jars.

      The only people at risk are the guys keeping gold eagles in safety deposit boxes.

      Which is the equivalent of keeping your rifle at the police station.

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  11. fout1

    I am making $98/hour telecommuting. I never imagined that it was honest to goodness yet my  companion is acquiring $20 thousand a month by working on the web, that was truly shocking for me, she prescribed me to attempt it. simply give it a shot on the accompanying site.. go to home media tech tab for more detail reinforce your heart…….   COPY .???  online jobs 2020 her

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