Gold: $470.60/oz

[Kat Kanning]

That's great, it starts with an earthquake, birds and snakes, an aeroplane and Lenny Bruce is not afraid.
Eye of a hurricane, listen to yourself churn - world serves its own needs, dummy serve your own needs.
Feed it off an aux speak, grunt, no, strength, Ladder start to clatter with fear fight down height.
Wire in a fire, representing seven games, a government for hire and a combat site.
Left of west and coming in a hurry with the furies breathing down your neck.

Team by team reporters baffled, trumped, tethered cropped.
Look at that low playing! Fine, then.
Uh oh, overflow, population, common food, but it'll do.
Save yourself, serve yourself.
World serves its own needs, listen to your heart bleed dummy with the rapture and the revered and the right, right.
You vitriolic, patriotic, slam, fight, bright light, feeling pretty psyched.

It's the end of the world as we know it.
It's the end of the world as we know it.
It's the end of the world as we know it and I feel fine.

Six o'clock - TV hour. Don't get caught in foreign towers.
Slash and burn, return, listen to yourself churn.
Locking in, uniforming, book burning, blood letting.
Every motive escalate. Automotive incinerate.
Light a candle, light a votive. Step down, step down.
Watch your heel crush, crushed, uh-oh, this means no fear cavalier.
Renegade steer clear!
A tournament, tournament, a tournament of lies.
Offer me solutions, offer me alternatives and I decline.

It's the end of the world as we know it.
It's the end of the world as we know it.
It's the end of the world as we know it and I feel fine.

The other night I dreamt of knives, continental drift divide.
Mountains sit in a line, Leonard Bernstein. Leonid Brezhnev, Lenny Bruce and Lester Bangs.
Birthday party, cheesecake, jelly bean, boom!
You symbiotic, patriotic, slam book neck, right? Right.

It's the end of the world as we know it.
It's the end of the world as we know it. can't I have some time alone?
It's the end of the world as we know it can't I have some time alone? and I feel fine...fine...

It's the end of the world as we know it.
It's the end of the world as we know it. can't I have some time alone?
It's the end of the world as we know it can't I have some time alone? and I feel fine...fine...

[Michael Fisher]

Politicians and the Fed avoid the impending economic meltdown yet again by debasing the U.S. dollar yet further.

I am constantly astounded by the extent to which today's dominant worldview differs from reality, and by the willingness of the world to trust and follow the U.S. economy like lemmings.

I pray that dawn will come soon, and the light of truth will reveal this nightmare of lies.

[John Edward Mercier]

Can't make the heavily in debt middle class constituents unhappy.

[Russell Kanning]

remember the good old days when you could buy some gold for $500?

[error]

remember the good old days when you could buy some gold for $500?

Good old days? Hell, that was last year or two! It's really going downhill fast now.

[John Edward Mercier]

I think the FED is out of the picture, the core CPI jumped... so lowering rates is rather risky going forward.

[Russell Kanning]

remember the good old days when you could buy some gold for $500?

Good old days? Hell, that was last year or two! It's really going downhill fast now.

that was part of the joke .... just like how fast gas has gone up

[John Edward Mercier]

The two are intertwined somewhat. Middle Eastern countries and Russia tend to place high value on gold.

[KBCraig]

Gas and gold have stayed the same. Both are priced in dollars, and it's the dollar that has tanked.

[John Edward Mercier]

Priced in dollars means nothing... they aren't directly connected.
I see this argument repeatedly, but it doesn't hold water. If it did everything priced in US$ would go up, and viewed from a foreign currency the price of gold and oil has still risen.
The debasing of the US$ through 'soft money' (credit) is only one part of the equation.

When you see a gold/oil chart they diverge several years ago. Even comparing oil priced in each currency shows dramatic differences.

[Kat Kanning]

Gold $997.5 

[malcolm]

WHEEEEEEEEEEEEEEE!!!!!!!!!!!
http://www.reuters.com/article/businessNews/idUSWEN447620080313?feedType=RSS&feedName=businessNews

U.S. gold futures rallied to a record high of $1,000 an ounce on Thursday, fueled by a combination of a weakening dollar, strong investment demand and inflation fears due to rising crude oil prices.

At 8:27 a.m. EDT, the active contract for April delivery was up $17.30 or 1.7 percent at $997.70 an ounce. Just minutes earlier, it had hit an all-time high of $1,000 on the COMEX division of the New York Mercantile Exchange.

[PattyLee loves dogs]

Gold over $1000, believers in the Fed are asked to please panic in an orderly fashion toward the exits.

[malcolm]

I realize that I may be a junkie about commodities.  (Looking at charts on a Sunday afternoon?  Go outside or something!)

Anyway, is anyone else watching this?  This is not a curve which bodes well for the equities and bond markets on Monday.

Got Gold?

[Pat K]

There might be blood on wall street today.