Wednesday, March 2, 2011

Crude, Silver and a Must Read

Just a few things I'd like you to ponder overnight.

First, the one thing I accidentally left off the previous post was the likelihood of further EE attacks overnight. They're probably greater than 50-50. Yes, price was effectively trimmed by 65 cents but that doesn't mean that she's done. I would not be the least bit surprised to see silver trade down toward 34 in asian trading tonight. Just a hunch.
Now crude, on the other hand, is a completely different story. We identified the pending breakout late yesterday and have already seen the greasy stuff move over $3 UP. Its basing now above the mini-resistance line around 102.25. I'd say that, pending a nirvana outbreak in the Middle East, this baby's headed to 105 or higher before the close on Friday.

Lastly, I need a little help because this one's bugging me. Please take time to register and read this story:
If you don't want to register, a summary can be found here:
OK, now help me with these questions:
1) Is this a credible assessment? The analyst seems credible and Bill Gertz is a respected writer.
2) If this report was written in 2009, why is it being declassified now?
3) Should we be worried that "the end of the great keynesian experiment" is coming much faster than even I expect?
4) Are you beginning to prepare for this possibility?
5) If not, why not?

More tomorrow on what promises to be a very interesting day. TF

ps This follows along quite nicely on the USDX issues we've been discussing the last few days.
And this is worthy of your consideration, too.


  1. I believe that this Pentagon study is one big piece of propaganda. There definitely are financial terrorists in the world, and they are behind the Federal Reserve and the Banks.

    The attempt to place blame on countries outside of Western Banking control is merely to try and justify the war that said Western banking interests want to instigate.

    Think about it. If you are responsible for the demise of the Western World, what better way to deflect criticism than to blame China, Russia and Iran - a few of the countries which for the most part have avoided letting the banking interests take them over.

    The reason the report has been released now is because people will NOT go to war with Iran over oil. But, you have a much better chance of doing so if you can convince them that the Lehman collapse was a financial 9/11. This is just too obvious.

    Buy oil. Buy gold.

    Don't buy in to their propaganda.

  2. It sounds credible to me. I could see China being behind it as part of a plan to accelerate their ascendence to power.

  3. It seems the Fed has found the greater fool, the Pentagon. What better means to socialize the losses than do so under the guise of 'National Security?'

    The crux of the hypothesis is complete BS. For every buyer there is a seller and all parties are known and recorded. It just takes someone to actually follow the trail.

  4. That's quite an article Turd. So many suspects with means and motive. Reminds me of the all the conspiracy aspects of the JFK assassination. Who killed him? the mob, cubans/russians, CIA, military/industrial/banking cabal? At any rate if true, it confirms what I've come to believe, WW III is underway.

  5. Two thoughts, the first I mentioned earlier...

    1) TPTB/Fed, with all the funny money about,need to take down an asset class every once in awhile. People should be prepared for it to happen again... see the current "market bubble" as an easy target for erasing $1T overnight.

    2) It's a bit long, but here is the link to "Unrestricted Warfare" written by two PLA Air Force Colonels in the 90's... it was required reading for me in the Army. It would be at least 20 more years before the Chinese would want to tangle with us in a direct conventional conflict... However, this form of unconventional warfare (law, economic, electronic...) has already been going on for about 20 years.

  6. FTA: "“This is the equivalent of box cutters on an airplane.”"

    Oh great... now they will confiscate all our investments as they are potential "box cutters". Please remove your shoes (and clothes) and place them in the bin provided.

  7. Watch the movie Inside Job, and you will see what the deal was.

    Don't BTFPD!!!

    (Buy the F-in Propaganda Dip)

  8. Your enemies are always looking for your achilles heel. Is it possible...yea remotely but in saying that we deny the real responsibility which is ours.

    My gut feeling is that this is bullshit. We had a bunch of greedy bakers writing loans and flooding the money supply- supplying debt to anyone with warm blood. They lied about the quality of those AAA rated mortgages and resold the same loans to how many different entities?? Shit they are still trying to sort out the mess.

    In the end, it was the FED who CONTROLS the money supply. Corporate greed. A reined in money supply, or a standard that would prevent those bastards from loaning and flooding the money suppy via ridiculous fractional banking and 40-1 margins would have prevented that.

    Regulation as always was non existent, and never works.

    No. I call bullshit. That catastrophe was done on purpose right here. Just like Japan's was.

  9. I am in Tyler's camp as well. The 2008 crisis was in the making for a very long time. I suppose all those folks working at McD's buying $500K homes were spies? No, simple greed and wanting something for nothing.

    Could outside parties have made profit from our troubles? Yes. But I think it's just another piece to keep us from looking in the mirror.

    When you point a finger at someone else, most likely there are 3 pointing back at yourself.

  10. Remember, "There's been an electronic run on the bank":

    Anyone ever see anything happen from this other than Rep. Krank getting his drool bib replaced?


    The next thing you saw was Hank Kimball Paulson demanding a trillion or so for his very best friends.

    Credible? I dunno. Somebody is playing some very dangerous games and there is little that we can do, it appears.

    'Cept get rich following TF!!!



  11. @Mark... I didn't want to watch Inside Job because with Matt Damon as the narrator, I figured it would have a massive slant to the left... I was pleasantly surprised.

    For anyone that hasn't seen it, it's worth the watch. Nothing terribly new info wise, but lays the whole thing out well.

    They interviews alone are worth a million bucks to watch (as are the people that refused to be interviewed).

    I saw it on the plane, I think it comes out on DVD on the 8th.

  12. Also isn't the blaze a Glenn Beck website??

    Lol captcha demen

  13. When zero cost debt is made available to speculate on non-productive assets, and that debt is allowed to climb far beyond any historic precedent, you don't need a financial terrorist to bring down the system. A butterfly flapping its wings somewhere is sufficient.

  14. Does anyone have the links to watch the movie: "INSIDE JOB"?

    I've been wanting to see it but can't find it anywhere...

  15. Propaganda- I dont beleive it for a minute- they are looking for a foreign scapegoat to try to shift the blame elsewhere. they know the endgame is close at hand- and they fear the wrath of the Sheeple. Hope they find justice at the end of a rope

  16. Inside Job doesn't come out on DVD until the 8th.

  17. Spot on Tyler. Art, forget the ascendence of China to power. It makes the argument for WAR against them. Plain and simple, those who have power do not want to share it.

    1) I say it is always important to look at all the FACTS and analyze them without emotion. That is the only way that you will be able to discern the truth.
    2) In my mind it happens according to the plan they have laid out. Does anyone else see the irony in the fact that we borrow so much money and spend that on our military and financial systems?! Hehehe.. they are funding us to go to war with them eventually!
    3) Hard to say. I wish I could figure out what those bastards are doing. I think our Government is full of f#cking power hungry idiots and they will shift blame over to whoever they can when the SHTF.
    4) Do what you can to make yourself as self sufficient as you can. That's really all a person can do right? Get your basic supplies built up, put some physical silver up somewhere handy and get to know your neighbors as well as you can. At the end of the day when this globalization mess melts down we will see a contraction take place. The world will seem a lot smaller and communities will be forced to come together some I think. It's better to have those kinds of relationships in place when a disaster hits than to do that during a disaster.

  18. "America will never be destroyed from the outside. If we falter and lose our freedoms, it will be because we destroyed ourselves." - Abraham Lincoln

  19. Can watch here,

  20. I don't see why any large nation with close economic ties to the US would benefit if they crippled our own economic strength. I doubt that fringe Islamic groups would have the expertise or tools necessary, after all they do not even believe in interest. As stated above, I agree it is the Fed/Banks, the home-grown terrorists, who are the most likely suspects. But even without any conspiracies, we are slowly eroding our own standing just by constantly piling on the debt and keeping a dubious fiat currency.
    I have little doubt that some large interests were short before the plunge and then waded in to BTFD, at the ultimate market bottom, in March 2009. I know I pitched in a few hundred.

  21. Great post Turd....I'm in the Tyler camp...what better for the bankers an pols than to create another strawman....hehehhe.....I love it...the Arabs did it....nah it was the the Chinese.....well one thing is certain....leave it to the bankers...."we don't need no godamn enemies" they are us......

  22. I think the article is crap. The chinese and russians win with us and lose with us. The ' terrorists' aren't even close to being in this game. They' re barely good at conventional terrorism. The crisis was clean over leverage and then a massive digital bank run.pretty simple, just like the bernaks attempts to prop ther house up.

  23. “The new battle space is the economy,” Freeman told the Times. “We spend hundreds of billions of dollars on weapons systems each year. But a relatively small amount of money focused against our financial markets through leveraged derivatives or cyber efforts can result in trillions of dollars in losses..."

    Ok, I don't know all the facts so take anything I say here with a grain of salt. But I find this excuse analogous to a software/systems breach. Sure, the breach was illegal but guess what, there was a flaw. And it only took "a relatively small amount of money". If anything, presuming such sabotage happened/exists, they're doing the world a favour to make the financial system better - surely there was a flaw in the system that was vulnerable to attack. Notwithstanding the foregoing, this presumes a breach by 'financial enemies' which aside from their word, we don't know for sure actually happened.

    Surely, if they can do it (financial warfare), american's can do it better. But no subtle retaliation for the 1st time in an empire's history? Again, I'm talking out of thin air here :)

    I for some reason recall a zerohedge article whereby the money supply was contracted prior to September 2008 by the Fed. If true, and I'm just going by memory here, maybe that had a factor no?

    What was most disturbing was not this article but BB's testimony today. Yes, I purchased more physical b/c of his testimony - it was that disturbing b/c of his honesty. That answers #3 which answers #4 in the affirmative.

    TF, I answer #3 with a resounding yes after watching BB's testimony and his comments about the the debt death spiraling out of control.

  24. I'm with those who take this story with a grain of salt. If China wanted to, they could hand us our economic butts in a sling tomorrow. Nothing covert required, they already have the financial weaponry to do it. However, does anyone really believe that the S&P bottomed at "666" merely by chance in 2009? There are definitely entities manipulating the financial system, but it's certainly not by Al Qaeda.

    The fact that they are floating this story now means we need to be more vigilant now than ever about steps to curb our economic freedoms. They'll use anything as a pretext to further enslave us. The proper response to potential financial terrorist threats is to allow the private sector to properly balance risk/reward through voluntary exchange and proliferation of competition. Allowing the government to step in and construct a monolithic system is exactly what makes it vulnerable to attack.

  25. TIME OUT

    I intended this discussion to be about the potential for a total, game-changing collapse of the US economy due to our massive, now self-funded debt. The report, as I read it, does NOT blame the Russkis, the Chicoms or the Iranians for the 2008 collapse. That was, clearly, our fault, However, it is also clearly possible that foreign interests could have "helped things along".
    Now, it seems entirely plausible that holders of our debt, some of whom are NOT friends of the U.S., have the opportunity to ransack our economy whenever they choose. This is a very precarious situation.
    IF this thread devolves into some type of conspiracy-theory, 911-truth, fear-the-military-industrial-complex bullshiit, I will simply close it.


  26. The most credible assessment of this article is the inevitable that is going to happen regardless of who is to blame. I don't think we should blame anyone but ourselves here in the US. Heck, we will even blame the Middle East and rising Oil prices for our own created inflation and Bernanke printing press.

    I personally don't think this is a credible article because when you start by blaming others for your own mistakes, you lose your credibility right there. The terrorist behind all this is Bernanke, The Bankers and the Main Street bosses, no one else.

  27. flaunt: That's the kind of comment I was looking for. Thanks.
    You, too, caramel. Well done.

  28. btw, silver is creeping higher quite nicely.

  29. Keynesian Economics 101: We MUST now go to war. That is what Keynes taught. We need WAR to boost our economic output - remember, it was World War II that got us out of the engineered "Great Depression" - we will the need the war of all wars to get us out of this one. The more we destroy the more jobs will be created and the more wealth we will all have. ~ John Maynard Keynes

  30. I hate to refer to MSM reports, but this CBS "60 Minutes" report (;photovideo) (text) claims that it was likely investment banks like Morgan Stanley, GSachs, JPM, & Barclays who caused the speculative 07-08' run up in oil prices.

    While I don't dispute the fact that China will likely utilize its dollar reserves to its advantage, this is not the same as engaging in "Financial Terrorism." This is absolute nonsense. China will dump USD b/c it's in their best interest to as they shift to a consumer/services-driven economy. My intuition tells me that they came to realize how economic events would play out based on the war games, then spent a whole yr figuring out how to spin the war game's findings for the benefit of the TPTB.

    I agree w/ Tyler. This is BS propaganda to deflect blame and create an external enemy. Basically the guy equates China's move to preserve wealth and strengthen its currency (which Geithner and Obama keep begging for) w/ a direct economic attack.

    So let me get this straight... China buys USTs and props up USD, China = Currency manipulator. China reduces UST purchases & allows RMB to appreciate = Direct Economic Attack on USD and US Economy.

    Don't lie to me. It insults my intelligence and makes me very angry.

  31. Now we know things are close to the edge ... they've played the terrorism card.

    In tomorrow's news: the bond vigilantes hunted as financial terrorists.

  32. Well then... the answer is simply "yes!"

    ... but it would take a series of events.

    Like real hyperinflation, Zim style but here in the US, which would lead to people not going to work, especially for things like power and water. Once the lights go out, literally, things devolve quickly.

    That would be a worst case.

  33. It matters little from the standpoint of the ultimate outcome, no? What can be said that such things ARE underway, no doubt. But when looking at the standard question - cui bono - further concentrating power in the hands of Western banking interests seems just as likely. Nevertheless, the responsibility for allowing this to happen (to be POSSIBLE) rests squarely on the shoulders of .gov and its past and current owners.
    Scapegoats, FUD, fog and casus belli are needed b/c the system is starting to visible list, lean and creak. I am afraid your assessment is right on -- the beaker is more likely to explode, now that we've established the Evil Foreign Powers were the ones who turned that Bunsen burner just too damn high...

  34. Very good stuff. Thought provoking. Please keep it going.
    May crude just brushed 103 before falling back to 102.61

  35. I'm not into the conspiracy theory either unless it was from within our own borders.

    I'll say it again, we're on a roller coaster right now where we need bubbles, then need an asset class attacked to just make the money go "poof" very quickly... then repeat.

  36. All entities somehow causing grieve for the US establishment are branded terrorists, regardless of their motives and actions.

    The claim that the financial collapse in 08 was the result of a concerted effort by overseas players trying to criminally cripple the US seems a load of BS to me. The collapse was primarily due to shoddy mortgages being written by greedy US banks and a ginormous mountain of derivatives tumbling down.

    According to the article's logic, since every ounce of silver and gold I buy hurts JPM, and by extension the Fed, all silver and gold bugs are terrorists. But are we in it to terrorize the US? No, we buy thanks to our ability to add 1 and 1 together, as in reduced supply meets rising demand, ergo prices are bound to go up. Simple.

    I wait for the day when bankers who screwed up economies all over the world have the spine to actually admit their failures and responsibility, but I guess there is a bee's dick of a chance of that ever happening. The article is just another piece of misinformation designed to divert the blame.

    And even if China, Russia, Venezuela, etc are slowly but surely bringing the US economy to its knees, they do so using their observation skills and good ol free market mechanisms. Nothing criminal about that.

  37. Turd (relating to your TIME OUT) post.

    Do not believe it is in the interest of the Chinese (who are long US paper and short gold and silver) to speed the collapse.

    Their economy is still very leveraged to the US consumer, and they want to correct the above imbalances (eg buy as much gold as possible at the lowest possible price).

  38. This comment has been removed by the author.

  39. OK Turd, I will attempt to follow the rules;

    1) Is this a credible assessment? The analyst seems credible and Bill Gertz is a respected writer.

    I think that there is more than one reason to suspect an external player understood the mess we had created for ourselves and simply applied the right stress at a key point in the system and the rest took care of itself. The bankers set up the mess... and in so doing may have painted themselves into a corner and needed to collapse the mess before they were caught in the trap. They knew if they made it really bad the .GOV would have to bail them out and in so doing would be complicate in the ponzi scheme.

    2) If this report was written in 2009, why is it being declassified now?

    Dis-information more than likely. Round two is coming.

    3) Should we be worried that "the end of the great keynesian experiment" is coming much faster than even I expect?

    I think they will bring on round two of the "crisis" first. Never underestimate the internal inertia of a massive and complex system.

    4) Are you beginning to prepare for this possibility?

    Yes - because the system is not stable. And unstable systems are difficult to control. An unexpected event can cause the system to react in a totally unpredictable and uncontrollable manner.

    5) If not, why not?

    "A failure to plan on your part does not constitute and emergency on mine"

  40. Joe Lieberman: "This is a matter of National Security. A Cyber attack on America can do as much or more damage today by incapacitating our banks...our a conventional war attack."

  41. Turd,

    I respect that this is your forum and you don't want to get off topic. However, I do think some flexibility is in order with respect to the questions you posed.

    Here at Turd's world, if we accept that the EE (banks and the FED) exist, then by extension we must believe that they control the government. This is the only logical conclusion because the government could not function unless the FED was buying debt. He who holds the money holds the power.

    It would be very naive of us to believe that the EE limits its activities to manipulating the price of silver. When aforesaid other EE activities pertain to investments (a war is certainly a factor to take note of) then it is actually essential for each investor to determine for his or herself how far they believe the EE has gone in the past/will go in the future.

    The main point I would like to make is that when speculating on something as broad as the end of the "keynesian experiment" we cannot lose sight of the big picture, even though we may have to visit places that can be uncomfortable at times.

    I will always remain respectful, and if you prefer to cut out such discussion I will make sure to not mention it again.

  42. For decades the US has been installing regimes and debt-loading developing nations in the name of economic security. If there is an economic war going on then the US probably started it... guaranteed though the rest of the world will finish it.

    A good no-nonsense primer on all that would be 'The History of Oil':

    So their 'plan' might be to disrupt the economy (bid up oil) and dismantle the government (bid up precious metals) at the same time... nice. What happens after that.. foreign monetary bailout? Full-blown invasion? I guess this is the SHTF moment we've all been talking about.

  43. Hah- Financial terrorism... THE CALL IS COMING FROM INSIDE THE HOUSE!

    People selling Bear and Lehman weren't terrorists, they were smart traders. If al quaeda was shorting Lehman, more power to them. The problem was banks being leveraged 50x or 100x, and buying and selling idiotic products no one understands.

    The same stuff is happening today, with all-new derivative crap for banks and hedge funds to trade, bet on and manipulate -- Gold VIX, double inverse VIX, triple inverse corn, commercially available default swaps on companies.

    I'm still waiting for CDS on American idol contestants, securitized pawn shop loans and ETFs tracking the price of hookers and blow.

    Just keep your head down, load up on PMs, and wait out a new (hopefully better) financial system on the other side of the impending currency implosion. The winners when currencies collapse are always the ones holding precious metals. You'll be able to tell the grandkids hilarious stories about the time grandpa traded people pieces of paper (and/or electrons) for gold and silver.

  44. I'm in general agreement with Tyler. The article looks and tastes like an EE constructed tale to divert attention away from the banks, corporations, and the congressmen would were directly responsible for the financial collapse.

    The interesting part of this type of piece, though, is it goes hand in hand with what the MIC and EE have as part of their plan to bamboozle the masses through the use of disinformation and obscurification. It clearly tries to tell everyone to look over there when the truth is really right before them. And, of course, the best lie is one that has bits of truth woven within it so that it has a sense of plausibility to quell any questioning of the false info. The only truth in this article is that the sovereign funds certainly joined into the fray of shorting the market.

  45. This comment has been removed by the author.

  46. The biggest threat I see from the Chinese would be to reduce its holdings of U.S. securities which is probably close to $1.5 - 2 Trillion. If they start selling it, we are doomed.

    Since China depends a lot on our Imports, we are good, but when Dollar starts to fall, or if our economy takes a wild turn south, we will be unable to purchase the Chinese products, and all hell will break lose.

  47. Tyler and mhavoc: excellent points. thank you.

  48. Dont drink the the kool aid.These are only allegations, In the US, it used to be that you must show evidence of a crime. Allegations are bullshit.Allegation: Turd is Blythe Masters proof? Because I said so.WTF??

    Nope.It wouldn't fly in open court and it sure ain't gonna fly with the general public. show me the money . Need to see proof of purchase.

  49. This comment has been removed by the author.

  50. Dave416,

    You would like John Perkins who came clean and joined OUR SIDE. He wrote the book:

    Confessions of an Economic Hit Man ~ John Perkins

    His job was to ENSLAVE NATIONS using the great American DEBT machine.


    LOL, that was a good one!

  52. DEA, ATF, TSA, Homeland Security all created from fear and that institutionalized control will never be relinquished. If the rational solution to the bigger picture meant dissolving these institutions, then that solution is not valid if one's true aim is control not solutions.

    Suspicions like the article implied, are entered into the public record to be reflected upon as a precedent after the next "attack". And thusly any panic sell-off will be ipso facto a terrorist threat due to the precedent. Perhaps that's when control of all retirement accounts kicks in? That's my .02 anyway.

  53. My goodness, someone or other must be very concerned that A.) the economy is not only not going to recover but is set to further deteriorate, and that B.) some large number of Americans will start holding those responsible accountable, i.e. cue pictures of bloated bodies swinging Mussolini style from lamp posts. I say this since we now have some seriously silly twaddle from the Pentagon as reported by the less than venerable, Washington Times, that damn commie furriners done it to us where the crash of '08 was concerned.

    Okay, so it's likely that our very own homegrown monetary bandits were actually responsible as the report admits, but folks in Venezuela, China, and elsewhere, took advantage of the situation and made it worse. And to add insult to injury our enemies did it as part of a (not so) secret plot to destroy the U.S. How could they!!? I'm sure they piled on where possible, just as we have done to them when they have chosen to act as wantonly idiotic as we did in the years leading up to the great crash.

  54. One other thing I recall from BB's testimony today. He was asked about high UE - he agreed it is high but is a result of the financial crash of 2008 which was a result of speculation, laxed regulation, etc.

    Sure, BB's not gonna come out & name any specific perpetrators conjuring up financial warefare but, correct me if I'm wrong here, we haven't heard squat about these financial terrorists 'till this declassification. I'm not buying it.

  55. Longtime reader / first time poster.
    Does any one have a link to the actual report?
    Thanks, J

  56. +1 for Tyler. I've been reading up on the origins of the Federal Reserve and it's pretty obvious to me what's going on. The powers that be are keeping people occupied and distracted while they take the nations wealth and resources. Hope this isn't too off topic.

    Someone posted this earlier. Forgot who, but I thought it was pretty good.

  57. The facts are absolutely clear, our politicians in concert with the TBTF banks and the private central banking cartel have been stealing from the American people for over 100 years. These actions have been nothing short of national treason and all those involved need to be tried and punished to the fullest extent of the law as provided by the US Constitution.

    Please do not fall for this bullshit story! This is another fabrication for the purpose of creating a boogyman to frighten the sheeple into agreeing with the next steps the elite have planned to limit our freedoms still more. Get with it - the intent here is to get momentum behind - limiting ownership of PMs, firearms, promoting a national ID system, or whatever......

    I am shocked that this bullshit story is getting any mention on this site.

    Leta take care of our problems at home - Abolish the FED and the UN on our shores. Next, throw all the asshole politians out on their treasonist asses. Once we have cleaned house at home - the world will understand we are not going to allow anyone to mess with the US. If the do - then the sleeping dog will finally be able to bite back.

  58. I too saw it as Tyler did when I read the report a few days ago. Karl Denninger also wrote an analysis that is at:

    His conclusion was:

    Yes, I believe that the collapse had a strong element of financial terrorism involved in it.
    But I believe the people responsible are found right here, in America, and include (but are not limited to) politicians of both parties along with the present and previous Chairs of The Federal Reserve.

    Put that in your conspiracy pipe and smoke it.

  59. The banksters bought the Pentagon decades ago. Where do you suppose all that money came from for all of those toys? A single Virginia class sub costs billions each, and 50 are on order. The costs of the military industrial complex over the past sixty years is nothing short of staggering. Junkies don't badmouth their dealers. I am not suprised at all this came out of the Pentagon. Just another dis-information piece, See; Gulf of Tonkin, WMD in Iraq, Bosnian-Serb War, and dozens of others I have omitted out of respect of time. LYING, CHEATING & STEALING ARE ALL THEY KNOW. We have sociopaths at all levels of "leadership".

  60. Amen Tyler. My thoughts exactly. When I first read through the Pentagon report I opened the front door to make sure I hadn't been teleported to Mars.

    Jeff, here is the full report:

  61. Turd,

    This particular report regarding economic warfare was intriguing to me, partly for prognostication.

    While many people on this thread are discussing or dismissing the report as propaganda, that response is somewhat irrelevant to the issue of whether or not the roadmap (i.e. impending T-bond collapse) is changing in likelihood.

    Regardless of the propaganda motives of the parties releasing that report, the fact that a t-bond collapse could occur is entirely possible.

    Such a collapse seems to be of increased probability given the behavior of the commodities, USD Index, and consumer choices.

    With unemployment at unprecedented levels and ever more draconian governmental behavior, the politics can not be separated from the economic. In fact, the economics and the politics are linked.

    As an example, the Wynter Benton postings at Yahoo regarding JPM silver positions are very telling. If those postings are correct, then the $34.00 level is critical to the pricing of JPM shares. I find it intriguing that JPM shares and general stock exchange behavior began to pivot to the downside as the silver price began to hit $34.00.

    Indeed, as the silver price shows consolidation and strength at the $34+ level, the price of JPM common shares is falling. I have to think that the people in the know must be selling and must be aware of the inventories.

    To directly answer your questions-
    1. Gertz is definitely a credible writer. On the other hand, Gertz and the Wash Times are closely sourced to the GOP and the Neo-conservative camp.
    2. Therefore, the report is being declassified in prep for the 2011-2012 POTUS electoral cycle. If the WH is seen as unable to address national security threat, that is a POTUS electoral argument/point. We will see more of these types of stories as the 2nd quarter progresses.
    3. You would need to define "faster". Have you previously given a target date for the collapse of certain Keynesian policies? Schiff's interview on Fast Money was reflective of how many believe. Schiff was challenged on this very question and he answered that one can not prognosticate to days, months, or years. It could be in 6 weeks. It could be in 3 years. But, it is coming.
    4. I am preparing, but am lagging due to the economic fight against our ability to become self-sustaining. My prep priorities are as follows:
    a - Family, love, Security,
    b - Water, Food, Warmth/Power,
    c - Mobility, Work to help others/neighbors

    The difficulty is using day light hours to achieve self-sustainable "a" priorities while having a "day job" which requires "c". The bigger problem is when members of "a" do not understand the need to be self-sustainable and therefore, undermine "b" priorities and force me to work more "c" time.

    Americans need to be carefully mindful of how some financial and economic forces are stealing our personal worth by undermining our ability to move cash and money for our services/products.

    The US Federal Reserve Bank needs to print more .... and then consider buying another mint to stamp more coins after that.

  62. Prize Fighter said:

    "Suspicions like the article implied, are entered into the public record to be reflected upon as a precedent after the next "attack"."

    Well said. "Financial terrorists", high oil prices due to ME issues, EU problems, congress unable to restrain spending/deficits, cities/states debt levels, etc. The history books are being written as we speak no?

  63. Its b.s. and I won't even bother reading it. Goldman and the other crime operations simply removed liquidity for the flash crash of May 6th. There were no bids in the Market. Remember how they always claim to 'provide liquidity' in the Market as their primary excuse for high frequency theft. Well they sent a message to Congress on that day as Congress was contemplating a bill to audit the Fed and crack down on Wall Street, I do not remember now the exact bill but i do remember the timing.

    Never forget that we are dealing with the most successful crime operation in human history here. I will not waver on that. When I look at that disgusting little bug Blankfein and when I heard him and his other capos and minions 'testify' to the very people they had bribed in Congress all I see is are archetypal criminal of the first order of magnitude.

  64. rthaler,

    Re: Blankfein

    It's a tough job doing God's work, you know!

  65. Turd, is it possible to have a updated oil chart under the USDX chart while we are watching that commodity?
    Thx - just trying to help make it one stop shopping for information and ideas!

  66. I love my country, but fear my government...

    Strange timing with the USD being on the precipice... Seems like propaganda to me to deflect something coming down the road.


    Ok. I'm all right now. I think. :-)

    This logic is along the same lines as the fat people who sue Mcdonalds because - well - they made them fat.

    How does this crap even get published? What amazes me is that "the government has largely ignored this informtion" .

    Sarcasm mode off.


  68. Hey Turd,

    My wife says thanks for making a great site that makes me smile. She says it's nice to see me not working and enjoying myself for a change. She prefers the uncontrolable fits of laughter to my usual grumpiness.

    Thanks for the laugh buddy. I needed that.


  69. A famous quote from Eric Blair "War is Peace, Freedom is Slavery, Ignorance is strength" comes to mind as I see the propaganda fly. There is a serious devastation coming and it might be upon us if we aren't alert as a world people. For Americans, when you hear "Homeland Security" or "TSA" ... what comes to mind? Thats right -- A major loss of freedoms, rights, privacy, and personal security all in the name of patriotic "duty"...

  70. Turd,

    Lookie what just made the New York Times today:

    Granted it's a blog entry, not front page news (yet).

  71. One more thing. I'm sure it was Chavez in league with Bejing and Teheran who pulled Building 7 at 5:20 p.m. on 9/11. 48 stories,demolition at free fall speed. Man those Iranian guys are good aren't they? They probably had the Chinese working the computers with Chavez and some Columbian coke gangs off Canal Street spotting the whole thing on binocs.


    Incredible comments from James Turk.

    The more TPTB try to rally the USDX, the more anemic it is becoming.

    This year is looking like 2008 2nd Qtr.

    In 2007-2008 2nd qtr gold moved from 650 to 900, a 40-50% tear.

    If the 2010-2011 2nd qtr matches, the gold price could move from 1200 to 1700, another 40-50% tear.

    That same time frame saw the USD Index fall from 85 to 72.

    So, Turk is right. If the USDX falls below 71, all bets are off.

    SHTF will not be far behind.

    The prime scenario that I see...
    1. International gold and silver markets continue to illustrate USD weakness.
    2. Oil goes to 200 (gold 2000 and silver 60?)
    3. USDX collapse.
    4. Tbond/US state bonds collapse in value as internationals convert UST's to PM's.

  73. Builderberg's agenda? (or is it just a conspiracy theory?) BTW, this blog is one of the best! It really really helps! Thank yoU!

  74. 3) "Should we be worried that "the end of the great keynesian experiment" is coming much faster than even I expect?"
    I suppose that is always possible, lets hope not- I am worried, however that being said, I think we may have a few good months to go yet. my reasoning---Its not in anyones interest locally or internationally for us to go down quite yet- I dont beleive we have an "established" way forward without the US dollar as reserve currency -though admittedly there are rumblings coming from afar about IMF sovereign drawing rights and angry G-20's who want a basket of currencies by yesterday. I think we are definitely moving forward towards devaluing or defaulting on the dollar but TPTB arent quite ready yet. We are clearly playing a Dollar Armageddon Roulette game right now -but I think it will go on for A Short while longer. Am I preparing, yes- Im moving overseas, I think that whenever any nation establishes capital controls its always a dangerous warning sign, As I look at the US economic landscape I dont like what I see, and that makes me think that I should probably leave before things get ugly- what are you doing Turd?

  75. 1) Is this a credible assessment? The analyst seems credible and Bill Gertz is a respected writer.

    It's propaganda. Nothing like this is accomplished without all the parties being in cahoots with each other. I've said it since day one, there will be an orderly exit from the burning theatre for all the VIP's. Once all the VIP's are safely out then someone will shout in, "Goodluck suckers!" and everyone else will start the stampede. This too is intentional and planned. Think of all the things people will agree to of their own free will when this plays out.

    2) If this report was written in 2009, why is it being declassified now?

    Again, because it serves their purposes. You just can't go starting a war in a war weary world unless you start having some boogeymen can you? Remember, the last thing to do after getting out of the theatre and looting everyone is making sure we have a complete demolition. Connect the dots.

    3) Should we be worried that "the end of the great keynesian experiment" is coming much faster than even I expect?

    The end was always going to be parabolic in nature - meaning slow to begin moving, but then picking up more and more speed exponentially. The truth is that it's going to be faster and quicker than anyone can ever guess. Just like my fire analogy. Ever see how slow a fire starts and you're thinking you have all this time to get a hose and then you discover just how quick fire burns when it gets going.

    4) Are you beginning to prepare for this possibility?

    No. I've already started preparing. If you haven't prepared yet then you have to get prepared with the same speed at which events are unfolding. Pretend a Category 5 hurricane is going to slam into your house in 5 days. Seriously, go do everything you can as if a natural disaster is coming in 5 days. With that sense of urgency you'll be amazed at what you can accomplish.

    5) If not, why not?

    For those not doing it? Normalcy bias and no inherited memories from "bad times". Most everyone from the Great Depression generation is dead and their warnings were passed onto one of the wealthiest and most privileged generations ever to walk the Earth. We have no stories passed down from our fore-bearers and if we do then they are mostly dismissed out of hand.

    Instead, the "preper's" and "savers" will be dubbed the "haves" and they will have the have-not's turned loose on them at the behest of those that fled the theatre at the beginning. You're already seeing glimpses of that now. Don't focus on the evil thieving bankers who looted this country, focus on these public employees.

    By the end, each man will be turned on the other because everyone will believe themselves to be a "have not" and everyone else around them will be a "have".

  76. NY Times article today.

  77. I fear sooner, and am beginning to try to pull money out of institutions. It is amazingly hard, just to get things like RRSP or RESP (I am Canadian so think 401s and education savings accounts) money. Even the bank will look at you strangely if you ask for more than $1000 fiat dollars. Sometimes you have to wait a day. Food in the basement. But we have one more child in school, Grade 10, so 2 1/2 more years in the city. We live in Ottawa, and I hope it lasts 'till then.

    BTW Silver touched 34.81!

  78. I found out why silver hit 35 bucks

  79. The terrorists behind this are working in the Federal Reserve, the US Government and the US investment banks. There's no need to look any further.

    What an absolute load of propoganda BS that article was. I can't believe it was posted here, and that anyone is seriously giving it credence.

  80. If you want to know who was responsible for the economic collapse you must look no further than those who've strongarmed the future generations of americans for trillions of dollars.

  81. We'll go to Canada or back to India if we have to. We need TPTB to hold it together for another year or two until we can get everything lined up though, and this worries me tremendously.

  82. This comment has been removed by the author.

  83. badu, speaking of india, are you moving your dollars to india? what is the best way to do it? just nre/nro account?

  84. Don't know if this video has be posted here yet, but it is hilarious and true.

    Definately worth the watch:

    Don't know if Blythe is on the plane though...

  85. Just a crabby side note - I know there are lots of comments but please at least scan them before posting links. Lots of repeats.

  86. If I could print all the money I need I don't think I would worry too much about financial
    terrorists. I'd kick their ass instead. The fed/congress twins are the financial terroristas.

  87. May I also comment on Turd's questions?

    This propaganda piece, like any good wag-the-dog, has a small element of truth in it to engender plausibility. But its real purpose is innoculation and precedent, as mentioned.

    The next crash, when it happens, will be pinned on the "terrorists" and this will be the excuse to confiscate whatever remains of lower-to-middle class wealth and impose draconian economic controls.

    The next crash will need a cause and the cause certainly can't be overheating printing presses, no sir! Nothin to see here in the TBTF department! You will hear talking heads yammer on about "we were warned" and "we should have seen this coming" and now we'll just have to go over there and kick some terrorist butt, how unfortunate it had to come to this!

    Timing? Most definitely related. With the middle east spiraling out of control well ahead of the intended schedule, portions of the entire plan need to be moved up and this report needs to be parachuted in asap to cover quickly approaching crises. This middle east conflagration was not scheduled until spring or summer of 2012, but it looks like someone let the cat out of the bag a little early! The cartel is good at timing but even they can't predict everything. Go ahead and draw the timeline, based on research sources, the ultimate deadline is the end of 2012 and everything in the plan is working to a crescendo at this point. I just wonder if they will be able to get back on track and hold the timeline back to where it should be. Otherwise we are looking at complete systemic meltdown a full one year ahead of schedule.

    Preparation? You bet! Warp speed, captain! Divesting of any non-essential asset as quickly as possible and re-investing in supplies, survival, and solid metal. We've gotten a lot done in a short amount of time since my eyes were opened. It's only too depressing that certain assets are extremely hard to divest in this market (home) or have huge financial or psychological/opportunity cost penalities (401k, IRA).

  88. Sad story up here in Canada. It appears a bank have been ripped off for $2,000,000 worth of gold. So lets all band together and help them find it! (sarcasm on)
    Wonder how they like it!!!

  89. Two days ago i posted here that the Comex will not fail until they have someone or some event to blame it on.We must be getting close to the end as they are setting up the rest of the world as the bad guys.This just gives them an excuse.

    I think the end game is very near and have been prepping for years and you all should too.

    watch the dollar that will be the key

  90. @trashcan

    Yes, we have done a small amount via nre/nro but are planning to transfer more. We do not have much financial wiggle room at this point due to current obligations.

    However we also have a plan for our physical position and in this regard all I will say is that Fedex International is your friend :)

  91. Put it in perspective. If Ahmed can push a drunken green-at-the-gills bankster off his barstool with the touch of a little finger, as light as the touch of a butterfly landing on a blind elephant at the top of a cliff, which one is responsible for the subsequent fall, crash and burn?

    Believe me, I've done it (the bar thing, not the elephant thing).

  92. While we might have some lively disagreements on how #1 and #2 took place, there seems to be alot of evidence supporting the fact that #3 is happening almost exactly as described. The Chinese are frantically securing trade agreements with other countries, supporting their debt, accepting their currency and importing as much commodities as possible. They have been cornering as many raw commodity resources as fast as possible. They have become net importers of Gold and Silver while they used to be huge exporters. It has been reported on several blogs that they are dumping T-Bills in European exchange desks and using the dollars to acquire Gold and Silver. In addition they are supporting the Euro to help destroy the USD. They know they won't be able to dump all their holdings, but I am sure they have figured that they US is keeping the price of Gold and Silver artificially low allowing them to leverage their hedge in the physical Gold and Silver they do acquire. Who knows, at some point they may actually come out ahead once the true price of Gold and Silver is established. Further evidence of the true path of the Chinese:

    China "Attacks The Dollar" - Moves To Further Cement Renminbi Reserve Currency Status

    Make now doubt, we are in for a wild ride over the next few days to weeks.

    Jack C.

  93. Barry Ritholtz, who writes at his blog, The Big Picture, wrote an extensive criticism of this article which is worth reading:

  94. Silver looking okay.

    IN your folks' experience, when does this attack occur? Prior to asia? Euro?


    Futures looking nice and dainty, but too early to tell..

  95. Silver pushing towards 35 right now- would love to see it break & hold 35 tonight.

  96. Unbelievable... So it's true the U.S. military is getting involved in Libya.

    When I see stuff like this I have to ask myself... Why? Why Libya? Why not Egypt where people were being gunned down by Mubarak's thugs? There are reasons... Reasons for everything. I'm too sleepy to research them tonight.

  97. Evemts are moving fast overseas and have implications for oil especially, but also gold to some extent I think.

    Apparently now Egypt is getting involved, sending special forces into Libya. When a country in upheaval comes running to feast on the corpse you know something crazy is about to go down.

  98. /SI might print double top.

    @why the USA in LIBYA, oil and politics do come into play.

  99. double top? on what time scale the 1 min chart? LOL

  100. The banksters (and Fed) caused the financial crisis, passively assisted by a nation that consumes too much and produces too little.

    I liked seeing Crude and Silver in your blog tagline tonight. I think Oil has a lot more room to run, regardless of the so called "tools" our Treasury Secretary claims we have to keep the lid on it.

  101. 1250a how blatently obvious a line of defense on 35. Raid everyone.

  102. This comment has been removed by the author.

  103. Those $$%%%%#@# are at it again. Take a look at the dive at this late at night on the globex.

  104. JW someone is clearly freaked out about 35. Smells like fear and panic. Chumming the waters.

  105. Looks like the're gonna throw the kitchen sink at PMs tomorrow to stall any breakout. Just delaying the inevitable. Silver is extremely overbought so if gold gets hit, silver is coming down with it. Regardless, a $32-$33 handle wouldn't look so bad as a reloading point for the run to $40. Can't wait!

  106. The raid coincided with the raid in oil. Wow, war is about to break out in Libya and that's bearish for oil. Makes sense in some universe, I'm sure.

  107. Its lunch in Asia BTW.

    There's usually some consolidation, sometimes a minor dip during this time slot.

    Unusual to see such a big drop, but if there was a time to flood the bid its now.

  108. yeah 35 being sold hard. Asia doing its part.

  109. Helluvalot of chatter about ECB concerns over inflation and thus tightening.

    Whether they can realistically pull the plug on excess liquidity is moot, its the chatter that matters in the near term.

    Will be pretty funny how JCT words his spiel later tonight.

  110. Stumbled on a peice of info listed on UPS site, I dont know exactly what it means, It appears to be Special Drawing Rights conversion table.

    Exhibit 323.62 (p. 1)

    Conversion Table: U.S. Dollars to Special Drawing Right (SDR)

    1 U.S. $ = 0.6516 SDR 1 SDR = $1.53 ($1.5346 U.S.)

    Can anyone explain this or tell me what it means?

    This is getting a little freaky.

  111. Turd, good call on the second EE attack. This one feels like it could go aways. wouldn't be surprised to see low 1400's by AM. First 2 weeks in March are weak seasonally. Prepare to reload....

  112. Guess that means a 53.46% dollar devaluation - sweet !

  113. Oil getting smashed right now... big time.

    Maybe the Bernanke tools are working afterall... lol.. must be something up in the Mideast which hasn't hit the newswires yet. Night night.

  114. F:

    Re SPR use by US Postal Service — I can't vouch for this answer myself, but for what it's worth, this came up a while back and someone responded to the effect that it's no big deal — that the various nation's post offices have been using SPRs for sometime to settle up with each other.

  115. libya peace plan n the air!!!!!

  116. This 34 range sucks. I'm waiting on the sidelines for things to settle down. This is a job for you professionals.

  117. Turd, you got me. I’ve never, and I mean never, never ever (you get the picture) registered with a blog or signed up for a newsletter or anything of the sort. But…you got me to register for this one, and I even uploaded my ugly mug along with little boz’s.

    I’ll do my best to contribute in a meaningful way to the quality of this master piece that you’ve put together.

    I appreciate what you do!

  118. This might be the reason for a sudden fall!!!

  119. Welcome to the forum Boz!!

    Great pic!!

  120. Did silver go bankrupt tonight? No? Oh that's right, zero counterparty risk. Let's see what the market does with a near 2% drop while General Tso ate his chicken.

    Maybe this is bigger than silver. Maybe silver is a crutch along with anything of value in order to prop the dollar. As the collapsing figurative giant tries to steady himself, an ever increasing amount of weight is laid upon the crutches, the only thing of literal physical value at that moment. My lay-z-boy analysis sees the dollar resting on a monthly trendline. Looks to be about the 4th touch on this upward sloping line in 3 years with lower highs each subsequent bounce. Maybe they call this a descending triangle? Whatever it's called, the dollar looks like crap and ready for a phase 2 downward readjustment.

    Tis but a scratch!
    No it's not. Your legs cut off.
    It's merely a flesh wound.

    name that tune ;-)

  121. Crazy news coming out tonight, hard to sleep with so much to read, especially the Libya related news.

    Trader Dan's 4 hour long-bond chart looks ugly and appears to have lost support at a key point.

    I couldn't help but notice that the 4 hour long bond chart looks just like the AMZN chart EX-SKF posted tonight. Different time-lines, same bearish charts though. Stocks look bad and oil is dropping too, wonder where the money is going to go tomorrow, $ rally maybe?

    As far as silver goes, any set-back will be panic selling by weak hands who will move their money into something shitty with the rest of the sheep. Nuke the Comex. That is the only solution for Blythe at this point. "Sorry, terrorists blowed up all the silver."

  122. "bobsmith5 said...
    There is no shortage in silver at all. There are billions of ounces out there. Its just that it is being held off the market because the price is way way too low to sell at the phony suppressed current market values and people who have it know it."

    Yes, there is a shortage IN THE MARKET.

    There is no shortage IF all the silver that is held is suddenly released, there is no shortage IF all the silver that is left to be mined would suddenly become available to the market, there is no shortage IF we we find all of the billions or trillions or more of tonnes that are distributed throughout the earth and have the knowledge on how to extract them, and there is no shortage IF god suddenly decides to shit silver bricks.

    But right now, in practice, not in theory, there is a shortage, smart boy.

  123. "Drachma said...

    Are you familiar with Mr. Harvey Organ's visit to Scotia Moccata's bullion vault?"

    Actually I remember an interview that was done with, I don't remember the name, but the guy was an independent auditor that had access to the Scotia Moccata vaults. He said for sure he didn't know which vault they showed Harvey, but it must have been a customer vault, because the main vaults are highly secured and no public person would ever be granted access. He also mentioned there was more than enough metal sitting there.

    However note that this interview is at least half a year old, I think lo

    But regarding Harvey Organ's competence.. he still believes there were margin increases on the COMEX silver futures on February 18, although CME data and everyone who trades futures will be able to clearly tell you that there have been no increases since January.

    I pointed this out and actually gave him the links to the CME pages that confirm all of this in the comment section on his blog. He pretty much ignored that although I know he read it because he posted on the same thread later.

    Next day he still mentioned the wannabe margin increases as a reason for OI contraction.

    Yeah, so much for Harvey Organ.

  124. What's gonna be the breaking news when 34.98 comes around in london trading, and again tomorrow afternoon....and so on.....

  125. Anyone interested in learning more about John Perkins, who wrote "Confessions of an Economic Hitman" can go to his blog. There are videos there about his work as a hitman as well as current works in progress:

  126. The financial terrorism story appears to be calculated to provide cover. I'm not sure that the events (some type of financial crisis) that will require cover are imminent, but if so, I doubt the next crisis will be the final collapse.

    I am very impressed by Lindsey Williams' ability to predict oil price movements.
    Lindsey gets his intel from Oil executives like the late Ken Fromm of ARCO.

    In July, 2008, when oil was at about $150 and parabolic, he said that it would go below $50 in a few months, and it did. When it went above $50 again Lindsay predicted that the price would be capped for more than a year before it would be increased again. He suggested taking the opportunity to travel while oil was still cheap.

    Late last year, he said that oil would be brought back up to $150 to $200 in the coming months and that the dollar would be dead by the end of 2012. And on queue, oil is moving up strongly again.

    What this tells me is that some powerful and wealthy people believe they can control the economy and have a deliberate, measured plan to consolidate their power and wealth. However, their power is not total yet. They needed to do a dry run two years ago to measure the response of the system to manipulation. It was a kind of calibration, and also a kind of predictive programming, conditioning the masses.

    Lindsey made a point that they would not bring the price of oil all the way to $200 this time if the situation started to get out of control, but it would go to at least to $150. Again, this shows a measured approach taking into account feedback from the system they are manipulating.

    I think their experiment in 2008 made them feel that they have a fairly high degree of control. They will attempt use that to bring about a controlled decline. They don't want a sudden collapse and complete chaos. They don't want real revolution. They want a controlled collapse which will leave them with something left to rebuild. If events start to get out of hand, they will back off. They can be very patient.

    Their power and wealth will come from vast hidden oil reserves in North America, which they will not release before oil reaches $200 and the populace is demoralized and more accepting of central control. They intend to betray the Arabs, whom they made a deal with to trade oil for US debt decades ago. The Arabs will be left with worthless dollars and depleted oil reserves, which they will not sell at any price to their betrayers. Americans then will be forced to pay the price set by the oil execs, starting at $200. Black gold.

    It doesn't have to play out this way. For example, right now Max Keiser is in the Middle East trying to convince wealthy people to trade their fiat paper for silver. The point I'm making is that doom is not imminent and we do have a window of opportunity between now and the end of 2012 to change the agenda, like Max is trying to do. But that isn't a lot of time, and we can't wait to the last minute. Get busy now. The immediate defense is gold and silver, storeable food, etc.. But a wild card is any of the up and coming sources of cheap energy, which would neutralize the oil agenda.

  127. About "conspiracy theories": Paul Craig Roberts makes the point that there is now hard evidence for some issues previously discounted as conspiracies in his essay The Perfidy of Government: Evidence v. Denial. He reviews three excellent and well-documented books covering a trifecta of perfidy. If there were a futures market for perfidy, I would be long.

  128. 1. yes it's credible-believable, but the wise would not believe it for reasons stated above and more
    2.Things are declassified/classified for no, little, or great reasons.Many things are still classified from WWII, many times no rhyme or reason no one asked for declassification, it is not an automatic process. I know I worked TAGOS ships- subtrackers.
    3.Why worry this is no time for emotions,yes it probably coming faster harder than most imagined
    4.Beginning? This is taking much longer than I expected. I started in 05 but then I've had the luxury of spending 19 days in a givens life raft in 40ft seas (1985) Georges Banks scallop fishing. Life Boy Scout
    5.Why not because most have never faced true adversity. I'm from the last of a generation that "walked backwards Five miles uphill in four feet of snow barefoot to get to school and eat cold rock soup in summertime".Most of us will get thru this, main ting cool head. accept, adapt, change,smile. Teach your children well...

  129. Regarding conspiracy theories:

  130. Just a point of perspective on the report.

    1. "Financial Terrorists" in no way implies another nation, just someone with the means and motivation to harm the system (and possibly profit from it).
    2. "External" threat. External to whom? To the US? Or External to good ole boy network of insider Banksters?

    The system was weak and possibly taken out by a short is what the report says. Plausible? You bet! Who had means and motive is a question that should be asked. What other events occurred in that time frame? Oh Yeah!! Presidential Primaries.
    The house of cards would have tumbled of it's own weight eventually, but if profit and purpose can be be seized upon... why not push now?

    Now the real question is... can an entity provide a timely push to bring down the financial house in the future and if so to what motive? Profit is what immediately jumps to mind, but I would think POWER is the real answer. Wealth is power in a Democratic Republic, but I have yet to see a model predicting the form of government that would follow a total financial collapse.

    While you are preparing for the collapse, you may have to prepare for an inevitable attempt to seize all your rights at the same time. I hold physical for several reasons, but I also know that in the event of a total financial collapse, the PM's are really a financial asset after the recovery starts. That could be quite some time.

    Prepare for the worst and hope for the best!

  131. I grew up in a communist country - You bet the westerners were to blame for all our failures back then.
    The article and all the statements in there are plain express of helplessness.
    But it give us a clue that things get out of control, "the end of the great keynesian experiment" is nearing and they urgently need somebody to blame while the banksters are flown to a safe place.

  132. 1. Good propaganda will have strong elements of credibility and even truth.
    2. This information is being put out now because TPTB realize that "extend and pretend" is coming to an end.
    3. See 2. above.
    4. Been prepping since 2008.
    5. N/A
    Analysis: How convenient it would be to blame a global economic collapse on "terrorists." Takes the heat off TPTB and provides a convenient excuse to shut down the internet.

    I would expect that people like Soros and other lower profile, but powerful banksters or nations to facilitate or take advantage of any crisis in order to profit or improve their power base. It is already known that al queda insiders sold their stock positions right before 9/11. So yes it is credible, but it is a symptom not the cause of the problem.

    The world is a tough place and civilization is fragile. America has experienced a golden age, but now we are going back to normal:

  133. Bin Laden said right after 911 that the goal was the financial ruin of the US. It seems to be working. We started spending money...going into tremendous debt...right after 911. We haven't slowed down since.

    Just saying...

  134. Back to trading. I think there will be yet another EE raid, dropping prices close or even below 34 (BTFD here) then the asians (and me) will buy it back to 35.5+ beginning of next week. Lot of strong buy orders at 35 through 38. Hoping to make more fiatscos to trade for metal locally.

  135. speaking of possible financial terrorism and all the china shorts etc could bernanke QE plan be financial warfare on the financial terrorists? Think about it, if china russia arabs wanted to do the short attack kill plan then QE would be a counter attack on it. hmmmmmmm interesting

  136. This is HUGE news IMHO:

    China "Attacks The Dollar" - Moves To Further Cement Renminbi Reserve Currency Status

    Submitted by Tyler Durden on 03/02/2011 20:24

    In a surprising turn of events, today's biggest piece of news received a mere two paragraph blurb on Reuters, and was thoroughly ignored by the broader media. An announcement appeared shortly after midnight on the website of the People's Bank of China. Reuters provides a simple translation and summary of the announcement: "China hopes to allow all exporters and importers to settle their cross-border trades in the yuan by this year, the central bank said on Wednesday, as part of plans to grow the currency's international role. In a statement on its website, the central bank said it would respond to overseas demand for the yuan to be used as a reserve currency. It added it would also allow the yuan to flow back into China more easily." To all those who claim that China is perfectly happy with the status quo, in which it is willing to peg the Renmibni to the Dollar in perpetuity, this may come as a rather unpleasant surprise, as it indicates that suddenly China is far more vocal about its intention to convert its currency to reserve status, and in the process make the dollar even more insignificant.

  137. ""Re SPR use by US Postal Service — I can't vouch for this answer myself, but for what it's worth, this came up a while back and someone responded to the effect that it's no big deal — that the various nation's post offices have been using SPRs for sometime to settle up with each other.""

    Thanks John,glad someone knew.

  138. According to wikipedia it's 1 USD to .6 SPR

  139. we know china will take gold and silver as payment for all thier dollar store junk so who cares if they dont want dollars. we win they lose cause we get more and more as golld and silver rise and they get less gold and silver for more goods etc. jmo wacked out and all lol

  140. They are so completely out of silver Kitco is saying that as of 3/14 you have to have a 1k order. If things were not so tight, I'd sell every drop I bought from them back and buy it from some place else.
    We have criminals at the Fed, Crimes, JPM, HSBC and now Kitco

  141. China would be wise to ramp up production of it's stars and stripes flags to meet the demand of those rushing to defend the EE now that "national security" has been invoked.

    All is forgiven, the EE have been defending US. interests all along.

  142. Anyone else notice that after delivering a mere 1 Gold and 9 Silver contracts on Tuesday, yesterday's delivery report from Comex shows NO Gold and NO Silver deliveries?

    Never mind. I'm sure it was just an oversight. After all, the inventory reports show that they have PLENTY of metal sitting in stock ready to deliver. Yeah. Sure they do.

  143. I downloaded the report, the DOD report, and it looks credible. I have to say that it is plausible that it is an attack. However, by who? China? They have the $$ to do it and they want reserve currency status. The Saudis? Most attackers against us come from there and they have the $$ to do it, but not the motive, that I know of. Russia? I don't think so, but they have a motive, revenge, and the $$ so it is possible. China is my choice. Not done reading it, but you can download the report from Scrib.

  144. Looking back at 9-11, if we read the events symbolically, the targets and results of the attacks have been prophetic.

    Twin towers destroyed represents the takedown of our financial system and economy--in two phases. The Pentagon being seriously damaged represents pain and harm to the US military. But be encouraged... The attack on the capital building (presumably) was thwarted by people like us who were wiling to sacrifice themselves for their country. This symbolizes that the US congress--the representatives of the people--will survive intact. Perhaps we have hope for the future (if we can vote out the corruption and idiocy.)

    Just thinking out loud.

  145. Chris: yes, that announcement from PBoC is hugely important.

  146. Just watched Beck online. He discussed the article which questions whether there was financial terrorism in 2008 which was in the Washington Post:

    I don't know if people outside the US are aware that Glenn Beck's show can be watched anywhere in the world via this link:

    I would recommend watching last night's episode

  147. This comment has been removed by the author.

  148. I think this is whats going to happen:

    1. Trouble is going to spread to Saudi arabia
    2. Brent will hit 150USD and force one euro country to default.
    3. 2 weeks after this, the US will be attacked much like we had in 2008.
    4. Weimar Style Hyper-inflation
    5. New global currency if the US population does not wake up, and take back the country.

  149. During Asia/London hours, EE painted the tape with a "double top". It's the financial version of a scarecrow - "shoo, shoo, stop eating the silver tree".

    I'm thinking a massive raid is in the works.

  150. I would like to point out the great irony in the inconsistent way with which we treat "conspiracy theories" on this thread/site.

    We have no problem accepting that Blythe and the EE are manipulating the price of precious metals, presumably because we have some financial knowledge and can see it on the charts, or because we trust in Turd's analysis of EE movements.

    Yet, to the majority of the world, the PM manipulation story and the existence of an EE is a huge conspiracy! Just try and talk to someone about it and see what happens. We already believe in conspiracy!

    There is absolutely no difference between our group and a group like Architects for 9/11 Truth or Physicists for 9/11 Truth. Based on their expert scientific knowledge, they can clearly see that the towers could not come down at free fall speed from planes crashing into them. Nor could Building 7 collapse from...nothing happening to it?

    My point is not that we should believe everything we hear, but I have been disappointed by the tone with which we talk about conspiracies. It is utter comedy to watch someone say:

    "Wow, look at that EE raid for $.50 on the Globex! Ridiculous!"

    and then in the next sentence:

    "Whoa, whoa, let's take it easy with the conspiracies here buddy."

    It would be a wonderful study to explore the human psyche and determine why we accept some truths but cling with a death grip to certain lies.

    I suppose all truth will be revealed in time.

    Good luck to all today.

  151. Good morning Turd Town,

    If we're talking financial terrorists, let's just be sure to start at the top, eh? The Morgue is the largest shareholder in the criminal alien enterprise known as the Fed, the parasitic system of the global financial oligarchy that was imposed on America and which has gutted the dollar and hollowed out our real, physical economy. In a short 100 years of the Feds's existence, our once great land has been led to financial and societal ruin.

    In light of these well established facts I find it really odd that anyone could be too worked up about "external" threats. Yes, I do believe they exist, but if one were to rate the relative threat they pose to the USA, I'd give our own 5th columnists borrowed into every key positions of power a 9 (out of 10). And relative to the threat that our America-based traitors pose, the other patsies this neocon knucklehead Gertz tries to finger rate about a 1.5. Again, not saying they're not out there or aren't dangerous, just saying to think about the ability to harm us that each really possesses. Are you more worried about the Bernank, Geithner, and Napolitano or some rag-tops in an Afghan cave?

    On the bright side, it's far from over... Could the Morgue actually wind up going down? Hard to wrap one's mind around thatr, but there it is. You've heard of death by a thousand cuts? How about 10,000 then- - that is about how many lawsuits the Morgue Crime Syndicate has now been hit with. The combination of their Ag Shorts and this stuff could combine to implode this hell-spawned crime syndicate. One can hope. Take a look at this story:

  152. I will BTFD $34 and below....bring it on Blythe

    People may not be aware of the Endless Mountain Silver analysis which is updated every day...He is very good and worth watching.

  153. This analysis is excellent:

    North America is Destroying the Silver Price:

    Look at the chart when you BUY the 4pm US Close...

  154. Result of the above analysis: Buy/Add Silver near the 4pm Close!

  155. I have a question, I have read JP morgan has liquated 25% of its silver position.

    If they choose to liquidate another 25% of thier paper postion , how would that affect the price?

    Im assumeing it would be bought up quickly in the market . But wouldnt this now transfer the risks to the buyers?

    Could this cause a drop in price later on?

    I dont know, just asking.

  156. fred - if that is true, then it could account for the recent rise in Silver.


  157. Despite the obvious allure of conspiracy theories, the student of human nature finds the theorists far more compelling than the theories.

  158. Jason Hommel: Here's why silver is going to $500 per ounce.

    A note of caution, he doesn't mention al-Qaeda once, although if he isn't with the EE he must be with the terrorists.

  159. urexi,

    Ok, gotcha. So is the well coordinated plan to suppress the price of PM over 10+ years just a theory then? Whew, I'm so relieved because my wallet is under the silly impression that we've been stolen from.

    Glad it was just my wallet's imagination and thank you so very much for clearing all that up for us. I'm relieved to know that things are exactly as we're told they are, and that history is but an unconnected stream of random events that were not ever manipulated into existence to further the interests of the most wealthy and powerful people and forces in the world.

    I for one will sleep much better tonight knowing all is well. Thank you for sharing your considerable wisdom in this matter.

  160. I am half expecting a relentless attack by the EE today. 33.75 anyone?

    What I am losing sight of is the big picture... If silver continues its rise, how much does this hurt them. How desperate are they to continue suppressing PMs. Or does it somehow serve their interests to allow silver to continue in a bullish trend, albeit not as fast a rise as we would like.

    I welcome your perspective.

  161. Conspiracy theorists? really? did you find ENRON interesting? or Bernie Madoff? or the sub prime mortgage scandal?
    or how about this posted today in the Wall st journal?

    Why the Dollar's Reign Is Near an End

    If you think corruption in DC and wall st is only a conspiracy theory, you need to become a student of reality

  162. Fellow Turdites.
    The answer is right before your eyes. Take this advice with you to the grave. These are the truest words I have ever heard. "FOLLOW THE MONEY, FOLLOW THE MONEY"
    Who got the money?
    JPM and GS , pure and simple. It doesn't get any easier than this. JPM and GS wiped out their competitors, Bear Stearns and Lehman Bros., and they had massive shorts already set-up,[well documented], and then they took control, total control of the US Gov., and proceeded to get the US Tax payer to give them a few more TRILLION.
    There's your terrorists. This has been written about extensively elsewhere. Our system is so completely rotten that we no longer need any outside terrorists. They are your fellow Americans that walk among us - you know them by their billion dollar bonuses, [bone - us].


    The biggest moeny is made in the SITTING on a position. ADD to it if you have the liquidity. BTFD.

    If you have not read "Reminscences of a Stock Operator", I highly suggest you do.. Not only a great read, but HUGELY INSIGHTFUL. It's based on Jesse Livemore, the Boy Plunger...

  164. DR Jerome,

    I suspect that Jp Morgan is going to get out of the silver business for a while by dumping thier paper silver at any price, and holding real silver.

    They have to find a way out this mess, and pass the losses to new buyers.

    Thats what Im thinking,

  165. Chris, - once again with all due respect to Mr Livermore, he put a gun to his head and blew his brains out after losing 95% of his fortune. Accumulated 100 million and then lost 95 of it. People read his stuff and it encourages them to momentum chase I suspect which the banksters love because then you become a mark for the banksters. If one makes a habit of buying high to get profit acceleration it can become a dangerous habit. And if and when a trend changes and you cannot emotionally acknowledge it, your finished. Just my opinion of course but I really thing that all the talk about the J. Livermore is great psy op for banksters who are in the market daily across all price grids both long and short.

    anyway, may he rest in peace.

  166. rthaler71 - Jim Sinclair who knew Livermore and who's father was a long-time business associate of Livermore's has stated many times that this story of Jesse losing all his money and killing himself over it is simply not true.

    Like many exceptional people he had issues with depression, but it was not remorse for his losses that made him pull the trigger. According to Sinclair's professed personal knowledge, Livermore died with most of his fortune intact.

  167. Dear Dr. Jerome,
    I've considered that too. Here's where I'm at.
    They make money both long and short. They make multi-millions daily since they know precisely where the price is going - and when. They want this game to go on. They really don't care about the level it's played at. Maybe raising the stakes just keeps the riff-raff away from the hi-roller table. This is their Casino - never forget that. When you play they take a fee, and then they take your money too. I have felt for a long time, that these thieves do not really care about the price - just as long as they control the game. Power and control matters most to them - they already have more money than they can possibly spend. For them the game is everything. We agonize over a dollar move up or down. They plan that on a daily basis, so that they can front run the price and clean us out. They let it rise a little to keep us in the game - just like casinos let you win just enuf to stay at the table.
    This Game has no basis in reality. Fundamentals do not apply, we've discussed that ad nauseaum. We only have the one remaining question."Do they at some point loose control?" Here's a question for you.
    Do they engineer a major geo-political "event" to get the specs to flee back to the US dollar and thereby crush the PM price? And will we do it, or will our Israelie buddies do it for us?

  168. Is anyone buying SLW silver wheaton today expecting a pop after close due to a positive earnings release??? I think buy today sell tonight pm for 5% gain???? anyone doing this?

  169. rthaler71: regardless of what happened to Livermore, the BOOK is filled with INSIGHT. And this insight is valuable to both the novice and veteran trader. Though it will be best understood by people that have traded the markets and have EXPERIENCED the emotions fear and greed.

  170. Quintus I did not know that, thanks for it.

    Regarding insights in the book, this may be but any romanticizing of trading is a warning. Most get into it hoping to make the big score or amass great wealth. Better to regard it as a grind and a business I think. When people start swinging for the fences and chasing momentum all their dreams can quickly go up in smoke. Just my opinion.

  171. Everything in 08/09 was planned ...just like it's being planned now. Too perfect of a storm then and now coming together just when the powers need it. There are no coincidences. Some of us had been lulled into thinking we lived in a free country where the people call the shots. Some of us are awake now and realize we've been played for decades while those in control carefully put all their games pieces into place.

    Financial Terrorists? Absolutely. And they are from within. The boom was lowered then when they needed it to be ...and it will be again. Just one of the many reasons I'm thankful for this blog to help us all be wide awake and take advantage of the time we have to prepare.

  172. Interesting situation developing in gold.

    Any comments from the professionals?

  173. Here is Denningers take on it:

    "Financial Terrorists: Right Here, Not There"

  174. This article puts it all together nicely:

  175. rthaler71,

    Fyi, Santa himself has a different take on what happened with Jessie, there is much more to his story. If interested, check his previous interviews w/ Eric King on KWN-- Jim has provided some very interesting Jessie details and stories during those. Jim would know, his father Bert Seligman and JL were business associates for many years.

    Enjoy and good luck today to all!

  176. For those of you that have 401Ks or IRAs, if SHTF and the dollar dies, how are you planning on protecting your retirement funds, if at all? According to GainesVille, one can fund their IRA with PMs (although you have to pay someone else to hold it for you). So, this could be one option for IRAs, but work 401ks, do you just consider that money you'll never see again?

  177. urexi,

    go play shrink on some other blog. You are way out of your depth here.

  178. My oh my would you take a look at what the Chinese al-Qaeda anti-EE types are doing to the price of silver! (it helps if you place one hand over your heart as you look)

  179. Tyler - the thing is that if Turd allows discussion of things like 9/11 etc., the whole place will become a shouting match. This blog is, as Turd has frequently had to remind people, about the end of the Great Keynesian Experiment. So that is what we discuss.

  180. Have you seen the USDX, well down at the moment, seems to have taken the PM with it, looking for the bounce!

  181. DX/Y collapsing... and Gold/ Silver dropping?


  182. ragedmaximus

    I'm sympathetic to the idea, but frankly I don't have any way of knowing if they'll be up 5% or down 5%. I don't know how in the hell they could possibly dissapoint, but betting on this seems akin to betting on which color gumball drops out of the machine. Just not my style.

    If everyone and his brother expects blockbuster news and guidance from SLW, isn't that already priced in? It could be the old buy the rumor sell the news sort of deal.

    I'm holding a postition in SLW that I've had for while. Lightened up a few days ago. Can't decide if that was a mistake. Can't decide on whether I'll reload today. Silver price today will probably have more to do with it, not the earnings release. Am in need of a dip.

  183. justmy02 - I think the key is this:

    I should imagine money just came out of both dollars gold and into Euros on expectations of higher ECB interest rates.

    I would hope that buyers of metals will step in and take advantage of this hot-money inspired dip.

    Anyone who cares about the long-term health of the dollar better hope that some buyers of greenbacks emerge too. Quickly.

  184. ~$34.30 level seems support for now

  185. @rthaler71
    Before coming to this blog you have to learn every word by uttered by Santa by heart. That's prerequisite. ;)

  186. Dr. Jerome-

    Once again, we are in agreement: Bear raid(s) very probable. So short term I am ready to play this today (just 'vegas money', not core holdings) just like I did yesterday- if we see some minor drifting lower on low volume by 1:30, I will flip my AGQ to ZSL and sit glued to the screen preparing to bail if it starts to go up. As long as these raids have a degree of predictability I am going to trade them, make $ off the EE's tricks, then use the proceeds to buy physical.

    Long term, I really don't know. It is all on the table- crashing the market, or war, or hyperinflation, or long slow descent... all I can say is hedge what you can, in all areas of your life.

  187. @ James,

    brotha, that was really funny! Thanks dude.

  188. "all I can say is hedge what you can, in all areas of your life"

    I love this advice.