Okay Seriously, WTF Is Going on With Gold?

Tuesday, November 24, 2009 , , , 1 Comments

Excuse me, does this say what I think it says?


Fleets of armored trucks piled with gold bars and coins have been streaming out of midtown Manhattan in one unexpected consequence of the gold craze.

Amid gold's rise -- it has gained 32% this year and reached a record on Monday -- investors have been loading up on bullion and coins. One big problem now is where to store it. The solution from HSBC, owner of one of the biggest vaults in the U.S.: somewhere else.

HSBC has told retail clients to remove their small holdings from its fortress beneath its tower on New York City's Fifth Avenue.

In a rare moment of watching 2am teevee, I saw an infomercial for a real life "cash for gold" at hotels across the Bay Area. They'll even pay your gas to come down and unload grandpa's gold teeth. What the fuck, do you see what is wrong with this picture yet or do I have to keep yelling? Any number of fly by night outfits will be happy to take that shit off of your hands and peace out, yo. Hope that cash works out for you bwhahahahahahaha LOL. Ask Zimbabwe Ben if you have questions about how this works.

Jr Deputy Accountant

Some say he’s half man half fish, others say he’s more of a seventy/thirty split. Either way he’s a fishy bastard.


Anonymous said...

Yeah JDA, I thought gold would spike in late 2008 or into about Easter 2009. The big spike I expected never happened. After that, the fear indicators all started dropping (e.g. S&P VIX, TED spread, LIBOR, etc.). This current run up in gold has me surprised. Apparently China & other countries have something do with this in their efforts to diversiy their holdings. /s/ Osprey