Thursday, March 24, 2011


Well, at least something good came out of today...we've officially added a new acronym.

By now, most of you are familiar with the dreaded FUTF formation. We saw another one appear today. This technical scoundrel only appears when all seems well and then the proverbial rug is pulled out from under yours truly. The opposite of this is the FUBM. This is the wonderful, beautiful and fantastic chart formation that forms post any particularly nasty EE raid. Today we add the FUCME (yes, that's pronounced just like it reads). It hasn't officially formed yet but I'm optimistic.

First up, take a look at this 6-hour chart of silver. Note that today's decline stopped right at the primary, short-term trendline. Provided that's the worst of it, this chart may have a FUCME on it by tomorrow.
But not let's not get ahead of ourselves. First we have to put a FUCME on the 5-minute chart to really show all the criminals at the CME, the Comex and JPM that their BS dirty tricks don't work any more. On this chart, you can clearly see that a move UP overnight through 37.47 starts the FUCME process. A move through 37.70 will accelerate the FUCME and a move back toward 38 will leave us a FUCME that is glorious to behold.
So rest well, be happy and have sweet dreams. Today was just another day. Tomorrow may not be. TF


  1. Me FUC U long time.
    From ur long long time Singapore lurker.

  2. This is a test of the Blano Broadcasting System. This is only a test.

  3. Bought the DIP...Hey Blythe FUCME.

  4. Hey what do you all think of this video analysis/theory using charts (Turd's expertise) that might predict silver hitting $750 one day?



    Bernanke to speak 4 times a year... this should be fun.

    (sorry if repost)

  6. My favorite coin shop has had a French 20 francs Lucky Angel sitting there for about three weeks. I hate to see such a fine piece of Au sitting there without a home. Will probably go toss a few odd extra Peace Dollars at it tomorrow. This IS NOT a major swap, more like a rounding error.

    Seems it's my mission in life, giving a good home to orphaned Sovereigns and Francs.

  7. Just doing some checking of previous CME rate hikes in silver margins. I also checked the silver market action the day of and the day after.

    Rate hike open high low close next close
    11/09/10 27.71 29.33 26.47 26.93 27.26
    11/16/10 25.50 25.86 25.02 25.47 25.65
    02/18/11 31.69 32.85 31.59 32.52 33.06
    03/24/11 37.24 38.14 36.84 37.13 ?

    The 11/16/10 hike in margin was meant to help beat down the silver market after a big 2 day slide. Didn't work.

    The 2/18/11 margin hike was met with some big buying....They didn't expect that one at all.

    So I guess the had the cheat today and let the big boys sell before we in the mushroom class were allowed to know.

    Had a nice run up yesterday with no EE intervention. Someone mentioned a bull trap. Sure felt like one.

    Double check my numbers, but I think I'm correct

    11/09/10 30% hike in margin
    11/16/10 6% hike in margin
    02/18/11 50% hike in margin
    03/24/11 not sure what this one was.

    Up days for silver after each one. Signs of distress for the EE I'm sure.

  8. Just found the time to go read Sinclair's latest at JSMineset. Awesome.

  9. I noticed several today posting that they were bailing from PMs. I agree that options in PMs are volatile. Might I suggest holding a stock such as CEF or EuroPacific, and not worrying over the dips, except to buy more. As long as the Fed prints to QE infinitum (whether they call it QE or not) and the Fed gov't spends us into oblivion, PMs are an important means of self-preservation.

  10. I've been a bit scared off silver. Not cause I don't think it's a good buy at twice the price but food and fuel inflation. It's a pick and choose market when you need everything. I topped off the freezer, got my pet food and some stuff for the garden. Nothing leftover to buy the dip. :) But I did load up last month at $30-$31.00. So I'm still doing okay.

  11. Lies from the banksters, and we just keep buying.
    Deceit from the Fed, and we just keep buying.
    Propaganda from the shill media, and we just keep buying.
    Ridicule from the investing community, and we just keep buying.
    Failure to enforce trading laws from the "regulators", and we just keep buying.

    Because the truth is the truth, and this army of ants will win. One ounce at a time.

  12. @Pining

    I'm with ya all the way!

  13. Jim Sinclair said:
    "You must realize that the Angels (gold prices) are not simple talk but rather a method used by the great market maven, Jesse Livermore."

    Does anyone have further information about how he calculated these price targets?

    (I know who Jesse Livermore is)

  14. I got my first 2011 Silver Eagles from a local pawn shop. Quite beautiful. She didn't have as many as I wanted, but she did have a deal on some 1 oz bars below today's spot price. As Pining said, "we just keep buying."

  15. Pining

    "One ounce at a time"

    True, brother. True.

  16. Hey Turd, I live in Chicago and take the LaSalle street bus to work. I can egg the CME tomorrow on my way to the office.

  17. Great Work Turd! Your efforts are very appreciated and helpful. May God continue to bless you! Keep the faith and The Faith!

  18. Paint the eggs silver Matt.

  19. Something Wicked This Way Comes:

  20. I am really looking forward to the new playground mister Ferguson is building for us ants. I agree with Pining. Truth is the truth. There is right and wrong. And this community is def right and knows the truth. Good to be amongst you gentleman. -CIGA Bryan

    p.s. what you guys think about having some kind of tricky question before you are allowed to comment? i just spent some time at the ZH "tokyo out of water" comment section... ouch it's a free for all. I really hated it when Barry Ritholtz referred to it as a madhouse... but I can kinda see that now 7 months later.

    so the "tricky" question could be something specific & general like knowing the closing spot price of silver (or gold or for shits & giggles -palladium) and it could be done in ode to Tyler Durden by having the "recruit" having to report the spot price over consecutive days (5?) before being allowed into the playground? Ha.

    I kinda like it.

  21. Turd,

    Re: your previous post...

    Bart Chilton is looking at trading in silver contracts prior to the CME margin announcement.

  22. Lumpy,

    That was some nice homework. I'm always too lazy to look back like that. Seriously, nice work. Bodes well for tomorrow.



  23. Thanks SSK, I was hoping someone would be able to read it after I posted it.

  24. Matt: you gotta at least give em The Finger as you go by!!

  25. I'll second the thanks to you, lumpy. As TF said, Let's get rested for battle tomorrow.

  26. Thanks Bro. D,

    Trying to help us Milk Duds.

  27. This shit's going down. I have evangelized to several coworkers. One is now an active buyer, the other is going to get two silver ounces from me for premium only tomorrow. Then comes the SILVER LUST when she touches them and owns them for her self. Then it's off to the coin shop for lunches. LOL!

  28. For those late night wanderers...

    Ron Paul is your Anti-War, Anti-Fed, Pro-Gold, Constitutional, Liberty-minded vehicle for the coming days.

    A comical video about our nations thoughts on different wars, followed by a reincarnated founding father's opinion.

  29. Don't know if you guys know, but Ayn Rand rose from the dead and is making a movie of her book ATLAS SHRUGGED.


    Atlas Shrugged Trailer

    I credit Ayn Rand with waking me up.

  30. reefman, you little devil you. Couple of cheap ounces as a "gateway drug". LOL

  31. Bears 5 out tomorrow guys...hope you like it, monday the 28th should be a spectacle.

  32. Four minute scene from the movie ATLAS SHRUGGED

    Atlas Shrugged Movie Clip: Henry Rearden Comes Home

    Seriously though, I am considering quitting my job and working for MYSELF - NO TAXES. Screw the government; why should *I* waste my mind on looters?

    ‎"Wealth is the product of men's capacity to think." ~ Ayn Rand

  33. I go to bed tonight dreaming of a glorious full FUCME in the AM.

  34. Eric. LOL! Trust me, just wait until I tell her that if she puts the Maple Leaf next to the Philharmonic they will REPRODUCE on their own! :) LOL!

    Seriously though, I tried it the other night... and woke up the next morning with no silver at all. My WIFE put it in her locker box! Dang! LOL!

  35. Eric#1,
    Yes, Sinclair's read sure brings some perspective in times like these! Next to Turd's blog and Zerohedge, JSMineset is a regular must read sight for the turdlings.

  36. Please no ayn rand propers. A pseudo intellectual who would advise the Fukuyama 50 to leave the plant and look after their own enlightened self interest.
    There is a childish selfishness to her writing that appeals to many who haven't read that much serious lit. I don't know any deep readers that take her dimestore nietzche seriously....

    Hunter Thompson on the other hand is fo reelz

  37. @ Viking

    But Rand captured the collectivist creeps so well and ages before political correctness!

    (I can still give her her due, especially given what she went through in her early life.)

  38. SGS,

    Bears 5 out? What's that mean? Bear raid?

  39. @ Malcom

    SGS produces the talking bear videos. The ones that talk about silver manipulation and the morgue. Looking forward to it, he will have it posted on his blog.

  40. Rand is a clunky polemicist whose central conceit--the superman--was cringed from nietzch....

    She also seems like she ran an s and m dungeon with Greenspan as the hump. Sorry no pocky for kitty.

    Anyone who needs a reading list say woop

  41. After redrawing lines on that may - 6 hour - silver chart....I see many convergence points for a correction (10-20%) from a 38.50 top down to target the 34 area....and that would be a nice correction, the dip where I would be buying more. I see the neckline around the 34 area as well. and a further drop to 32 is ok as well.... before the next big push to break over 40.

    all the talk about small movements between 37 and 38 and this volatile movement can plunge silver down to 34 in a blink ....back up to 36.50 and back down to 32,before the dust settles.
    You can buy more at 37 if you like. I might wait until 34,but thats my approach looking longer term. Right now,I'm wondering how much time is left before the 'summer doldrums' hits and whether this summer we will see the metals slide down,like they did last year. If they do....32 silver could easily happen.and 1300 gold once again. Buy the dips but ....wheres your bottom going to be for entry. I see 34 silver on this chart.

  42. @ Thomas

    Last summer was there a physical shortage? Last summer was there a Comex default?

    Don't wait to long for 1300....

    See this fundamental post:

    Thanks :)

  43. Another View which looks logical.

    Margin Hike not a tectic used by Blythe but a normal CME action item when there is spike in silver.

  44. @ Viking

    Polemicist Rand was, but she was out of a different era when this was a norm. I have seen a lot of people who started with Rand and then "matured." They became more sophisticated and critical thinkers, but they started their journey with Rand.

    I thought Nathaniel Brandon was the guy, not Mrs. Andrea Mitchell. ;)

  45. Sold off my miner picks today when I should have gotten rid of CXZ. Not sure how much lower it can go, but if this doesn't drop it, a complete melt down will.

    Good think I bought that AFTER it was slashed in 1/2. All the extended evacuations now make sense.

    I guess for the first time in recorded history a government lied to keep fear to a minimum.
    *end sarcasm*

  46. @Terry,
    Just watched that entire video you posted. Thanks for sharing that. Always nice to get a new perspective on things.


    I've followed his regular updates for quite awhile now. Understands the technicals, fundamentals and the history. Huge bull on physical.
    Very level-headed and bright guy.
    Well worth our fellow Turdites' time to add him to their regular rounds.

  48. I am wondering how long it will take for the people of this country to stand up to this bullshit. Somebody needs to form a group (truth committee or something) that is singularly dedicated to targeting every government official for recall who in anyway engages in or supports any kind of fraud and/or usurping done by the banks. Take the latest move of giving JPM its own vault. Every individual who contributed, seconded, organized or voted in support of this conflict of interest needs to be immediately outed and politically and legally pursued until they go down. The CFTC would be the first to go in such an action. There also needs to be a concerted move to deny banks our money. Some alternative to todays credit cards and banking fee structure should also be started to starve these mothers of funds. Organizing against them should also include a concerted effort to convince the silver longs to stand for delivery (or to get civically minded individuals with lots of money to enter the market with this intention). With the right organization, public education and financial backing this would all be possible. Is there no honorable individual or entity with the necessary clout that is willing to rally others against the fraud and abuse being perpetuated against the common man? Will it take the same 50 years countries in the Middle East have suffered to bring things to a boiling point here? When will people rise against this kleptocracy?

  49. I didn't see any mention on here but there was a 6.8 quake in Myanmar on 3/25/2011 causing a lot of deaths. Please send your positive thoughts to the people of Myanmar. On a side note, the Japan nuclear "incident" was upgraded to level 6...

  50. @ Terry,

    Thanks for sharing the video. I found it to be very informative. Gives me a whole new way to look at the CME hikes.

    To everybody in Turdtown including the Great Turd himself should watch this video.

    Scroll up to Terrys post. It is well worth your time to watch this video. I learned alot.

    Thanks Terry!

  51. Ayn Rand - the same Ayn Rand who collected Social Security?

    Another in our continuing series of "Do as I say, don't do as I do". Tomorrow: Alan Greenspan.

  52. The money train (and luck) will run out for the manipulators, 2% of the population will wake up to this opportunity, demand will further outstrip supply, and subsequent delivery months will gain more standing for physical.
    We as players and investors will receive no help in ending this particular miscarriage.
    It's entirely up to us. Army of Ants. BTFD, and remember where silver was in May and June of 2010.
    This train is picking up speed, receiving more of a buzz in the MSM, and the fundamentals bear out that there is a long way to go toward the upside.
    As a physical holder only, I understand that this will take awhile to play out. The longer it takes for metals to go ballistic, the longer we have to take it away from these criminals.
    CFTC will spend their time dealing w/ speculation in the oil market before they ever get around to this. WE will end this game long before the law gets around to it.

  53. @turd (and everybody)

    Do yourself the favor and read this (starting at bottom of page1):

  54. BTW: Raising margins is a complete normal thing.

    A margin is ALWAYS a percentage of the contracts value not an absolute figure that never changes.

    So if the underlying raises in price the margins have to raise, too (in absolute figures). The relativ figure is even lower then last november where it was about 5 per cent 5000 USD margin for one contract worth around 135.000 USD; 27 USD per ounce) and now it's only 4,6 per cent (8,700 USD to carry a contract worth 187,500 USD; 37,5 USD per ounce).

    What do people think: Having silver going to 500 USD, making a contract worth 2.500.000 USD each and you still only have to show like 5.000 USD (which it was before Nov 2010)?

  55. Genious article "Be Mindful Of The Cornered Rat" about the freakin impossible stuff we are watching at the markets:

    Is it just me, or are you left scratching your head everyday lately as the US and World equity markets continue to levitate higher despite all obstacles that keep falling in front of them?

    "Pay no attention to the man behind the curtain!"

    And how is it that continuing debt woes in the Euro-zone no longer have any lasting negative effect on it? It too just seems to levitate higher. It seems like only weeks ago that the Euro was rolling downhill like an avalanche in the Rocky Mountains, and everyone was predicting it's imminent demise. Today it's the Dollar that is on the verge of certain collapse. How is a collapsing US Dollar supportive of it's stock markets?

    I scratch and I scratch...

  56. @ Turdle GG: Years ago, Sinclair's original angel of $1,650 was calculated by dividing US debt by ounces claimed to be held. Would be much higher with today's debt and higher toward infinity if ounces are just IOUs from JPM and GS.

  57. Could a FUCME provide a good entry point at a new Turd's bottom?

    Just asking

  58. I think a new Turd's bottom is 10% off the top (38.15 at present), so $34.3x.

    Not to say you can't play a bit of BTFD in the 36-37 area with loose change. And buying physical is never a bad idea, but 34.xx is a fair and healthy pullback zone too.

    Just my opinion...

  59. Anyone have an opinion on Barclays and why they are stopper(645)s this month?

    Or why Pru and JPM have two listings in the deliveries category?

    Would love to know

  60. G Owen home,
    Thanks for that. Yes it seems that the target needs to be reviewed.

  61. Gonzalo's latest talks about confiscation of 401k's and IRA's through something like "HART" bonds. Narrows Fed's choices down to 2. QE to infinity or confiscation. Big problem I see for number 2 is peoples stock mutuals would be forced sold thus driving down the markets..check it out..can't believe we've come to point where things like this are even being discussed..

  62. I'm getting the vibe that silver will be closing above $38 today. Turd will see the FUCME.

    Oh please! Oh please! Oh please!

  63. turdle,

    I think the other "angels" have to do with fibonacci retracements of that original $1650.

    Someone who has followed JS work more closely can chime in if I'm wrong.

  64. Marcel -

    According to Sinclair hizzone self, the real price "Angel" is $1764. There "is no solid analytical way to get to $1650". Sinclair poked fun at others in the media and copycat "analysts/promoters" that are now using the 1650 number.

    He considers it a compliment, and I'd imagine an occasional annoyance.

  65. Thanks Larry

    BTW- TF has thrown his own $1650 gauntlet down, but he didn't use JS work to get there.

  66. Good morning. Hello Thomas. Is 34 the new 31? It is looking like a very up morning indeed.

    Pining etc. isn't it amazing that it is hard to find people who actually believe that truth exists.

    We are spreading the word through silver gifts to the next generation.

    Bryan = there is a website I like that charges 3.27 a month to be a member, the price of a grande latte at the Seattle Starbucks. It absolutely stops the trolls, and is a tiny price to pay for serious comments.

  67. $37.65 now

    Fairly close to Turd's 37.70 acceleration level.

    Expect a big FUTF from Blythe today

  68. Wondering when/if the a.m. takedown will occur?

    EE has let it float as high as .67 but no breakthrough (yet).

  69. iFlash The anger about the margin increase stems from the pre-warning the friends of the powerful got.

  70. Armstrong is telling us to wait, if we wait till June then the star's align, hold our heads just right and squint then gold heads to 5-12K by 2015 or something like that.

    Not sure what he makes of silver, does anyone know?

  71. Yes. I think we all accept that things move up and down (hopefully more up), but it's hard to write off the first sell off as just coincidence.

    And also the eerily quiet overnight action, very flat for two days (Tues and Weds), was the East warned to wait for a better buying opportunity?

  72. Would love to hear opinions on Tyler's IMF article late yesterday and if his assertion of it's effect on metals lines up?

    By the way bom dia to all

  73. Mark, bom dia!!!1 (from Portugal)

  74. Neo,
    No, my family is from the Azores. Never been but, it is on my bucket list.

    Can not speak very much Portuguese, but I can swear pretty well

  75. anyone know what EXK CEO said that was bad for the stock?

  76. Mark,

    I read that piece as well. Like Turd, I'm a big believer in patterns repeating. Therefore, I'm in agreement with TD that "something wicked this way comes". We got plenty of 'em to pick from, n'est ce pas?

  77. Larry and Marcel: The goal is $1600 by 6/10/11, which sounds easy now but it certainly didn't when I wrote it at the bottom in January.

  78. The "pattern" is human behavior, particularly in the short term.

    "Crisis ahead? Print more liquidity. Problem solved." (as if)
    At least that's the pattern for the last 10 yrs.

  79. What ever it was it must have been good, EXK is up on the Futs. But Futs are meaningless these days.

  80. Can i get a clear text def of FUCME? All I can think as I read the comments is "thats what she said" and seeing that i'm just having my first cup of joe, I need all the help I can get :) Long-time lurker. Love reading your shit, Turd.

  81. My apologies for the disinfo on your call TF

  82. Anyone here using cash to "catch falling knives" in the real estate market?

  83. So if they decide to confiscate everyone's IRA and 401K, is there time to liquidate it first or do you just wake up one morning and it's gone?

  84. cory,

    F***k U Chicago Mercantile Exchange

  85. Bahahahahaha....I wouldn't have figured that one out. I was trying to figure out why the hell I would want Blythe to FUCME...hilarious fail on my part. Thanks for the clarification Marcel.

  86. 401k and IRA's..I would have to think that the big guys would know this was kicking in well before the sheep and would be loading up on equity puts and selling....can't seen to get my head around how this could be pulled off without a lot of unrest...

  87. re: 401k, IRAs..Maybe not 100% outright confiscation, but instead a "required" percent in Treasuries (for safety reasons, of course!)

  88. Pablo,

    As I see it they don't dare outright confiscate IRAs and 401Ks. Americans have grown soft and tolerate a lot of shit. But, send good jobs overseas, create a housing bubble that takes away their house, etc. Well as Gerald Celente says:

    "When people lose everything, they lose it."

    TPTB know this.

    What I do see happening is as the retail investor gets back into the stock market (which form what I read, they are) TPTB will crash the stock market again, stealing again from the rabble (us). Once they have done this, the politicians will step in to protect us from the evil stock market by passing a law that a certain percentage of private retirement accounts fo into US securities.

    Wait and see if this doesn't happen.

  89. Pablo,

    Best bet at this point is to read the draft legislation. My understanding is that it applies to IRA accounts only and not 401(k). Who know if it will ever become law, or what it will look like in final form.

    IMO If possible change of IRA status at some point in the future is the ONLY reason you're considering pulling funds, wait until it is clearer how it will play out.

  90. Pailin,

    Sorry, I did not try to steal your thunder.

    Took me a while to complete the work.

    Also the reason for the spelling errors.

  91. Torx, it's cool. I don't have a copyright on gov't being b@stards.

  92. Wow - should have expected that - but it is getting tiresome. Does even a thief get tired of not getting caught?

  93. Metals pushdown startin' already?

  94. @MisesFan

    EXK technicals 3/25 as I see it:
    Support 9.13 then 8.80
    Resistance 9.44, 10.20, 10.31
    Pivot point 9.54.
    Hope this is of some help to you
    Good luck today

  95. But can she get it under 37 again?

  96. Well you just know that those criminal masterminds behind the scenes in DC have a shelf of neatly filed laws just ready to go for any and every eventuality. So yes you are probably right, one day the stock market will crash hard and lo and behold here comes Senator Such-and-such with a law already written ready to vote on at 3am the next day.

  97. POSX is catching a bid this am. 75.91 +.255

  98. Turd, just so you know (if you haven't noticed my heaping praise for you before), your work and your calls are amazing. That's why I'm here reading every day.

    The 1600 has been noted and you put it out there. The 1650 number has become a popular milestone, largely due to Sinclair's promotion of it, but every round number we get from this lofty price is going to be a war until it goes out of control parabolic.

    So, my earlier post had nothing to do with you or your targets... they are solid. I was simply quoting/paraphrasing Sinclair.

    I love yer stuff, man. Can say that on blog? :)

  99. It looks as if the USD/JPY got messed up and had to be put back to rights. It really is a race to the bottom when you start looking at currency. Sometimes the dollar is only up because the euro is in the toilet.

  100. "It's entirely up to us. Army of Ants."

    -- 100% agree. silver is helping to carry gold higher this year. gold is mainly bought by institutions, most of them are either idiots (2010 hedge fund average return is 5.6%) or short term traders who follow the orchestration of jpm and gs on comex, but silver is mainly bought and held by ants, and physical buying is the only way to defeat comex scheme - comex now only deliver 5M oz at most for a month, nobody now can get 5M oz silver in 30 days without paying 20%+ premium anywhere, sprott has proven it. I just gave tutorial to my 2 friend families on how to put some IRA money on 30% gold and 70% sliver. People are waking up. Screw you, Fed, international bankers and your servants in gov and congress world wide.

  101. Of course, if there was the serious threat of 401k and/or IRA confiscation, many/most would cash out which would mean a huge infusion of cash to the government via taxes and penalties. This would play right into their hands, and wouldn't involve the political risk of outright confiscation. It would ease the budget problem in the short term and almost all politicians think only in the short term. Me, I'm trying to transfer money from IRA to Roth a little bit each year to ease the tax burden.

  102. There's a new little schnitzel from Richard Russell over at KWN.

    Good Luck everybody today.

  103. Mark - re: "Armstrong telling us to wait."

    There is much talk and some head scratching over the Sinclair response to Armstrong’s “How and When” article. So I'll share my thoughts.

    First, I think Armstrong is a genius as well as a brilliant historian. His ability to forecast has been proven time and again. Governments and large corporations have hired him throughout his illustrious and infamous career.

    Not knowing either Sinclair or Armstrong personally, my guess is that the tone of Sinclair’s comments are not intended to diminish Armstrong’s timing as it is a sincere questioning of the “why” of this timing by Martin. Can’t imagine a kerfuffle between them, but a genuine difference of opinion between two titans in the business.

    That being said, I gotta go with Sinclair on timing the move up in gold and silver. No crystal ball here, just lots of research and a strong dose of 'gut' feeling (and an active imagination). I could be wrong and I admittedly have none of the skills required to present historic analysis or cycles pronouncements or Fibonacci formulas, much less make predictions.

    Sinclair could be wrong. Armstrong could be wrong. They both could be partly right, part wrong. But in terms of Armstrong’s “wait until June” theory, my question is the same as Sinclair just asked on his most recent post about the Armstrong article you refer to: WHY?

    Sinclair didn't and wouldn't say this, at least not in public, but has Martin Armstrong been hired by someone on the other side of gold and silver, to spin a tale that would help to instruct large investors and certain hedge funds to hold back, so that the large shorts could have the time to unwind and cover themselves?

    Continued in next post…

  104. Harold

    I'm already all in on the ROth. The last of my Roth basis will come available 1/1/2012 and 1/1/2013. So there's a bunch that can come out at a moments notice without tax or penalty. ANd as for the rest of it, in case of real emergency I can go click click click and pull that out too for only the 10% penalty.

    I know IRA confiscation has been all the chatter this morning, but I don't have my tinfoil (silverfoil?) hat screwed on quite that tightly. Yet...

    Even Gonzalo's article concluded they will opt for more QE rather than drop the bomb on retirement plans.

  105. Guys, I do not mean to sound like a complete naive idiot, so I apologize. But can anyone provide me some good reading on how to move a 401K into gold/silver?

    I'm new at this.


  106. Could this imagined “client” be someone powerful enough to (finally) spring him from prison? The mind can take us to places we’ve never imagined in an environment of the blatant corruption and desperation we’re seeing by governments, institutions and entities today.

    Taking this imaginary tin-foil conspiracy idea even further into the arena of philosophy, where we ask ourselves… if we were Martin Armstrong and we had all of his capabilities and his reputation worldwide, and if we were in the later years of our life stuck in prison, and we had a chance to obfuscate methodology and fudge a bit on timing - not to lie to hurt anyone or to drive spot price down - but help to postpone the inevitable mammoth rise in precious metals for the sake of national interest (or corporate interest)… would we?

    Again, I’m not accusing anyone of anything here, and it’s all off the wall armchair speculation, but when guys like Sinclair and Armstrong agree for so long, then just a few months ago they have a huge difference of timing, something has changed. And it ain’t the pm/USD/economic fundamentals that have changed.

    The key for silver may very well be availability. No manipulation can trump that. Only of this I am certain: We shall see. By June or July, we will have our answer and we’ll know who got the timing right.

    Events and circumstances (and Black Swan’s) will play a huge role in the coming months. Manipulation trumps all charts. Whatever the price and time, Sinclair and Armstrong will both remain high above the curve in terms of all things gold and silver.

    Personally, I remain in awe of how both of these gents have done what they’ve done and called it right for so many years. Obviously we all have a vested interest in where our investments are in June. And we have a great front-row seat right here in Turdville.

    The final point I’ll make out of respect for both of these gentlemen is, no matter where we are in June price of gold and silver, neither of these men will be “wrong”. They both have valid reasons for believing what they believe.

    We shall see.

  107. Anyone have a link to any actual proposed legislation or rulemaking that would require IRA's to own government bonds? I have never heard of this.

  108. Ivan

    Check the threads from Wednesday through Thursday midday. Pablo asked the same question and got some decent answers from a variety of folks, including me.

  109. Franny

    I'm going to piss on a hornet's nest here, but it's actually pretty sketchy stuff, confined mostly to a variety of fearmonger sites. Long on fear, short on facts.

    Now, that aught to get all the responses and links from people you could ever hope for!

  110. Looks like Bob Moriarty at 321gold is calling a silver top:

    No real reasons are given other than his gut feeling though...

  111. line is kind of screaming - "buy now", or what ?

  112. CNBC just reported Gartman is on the sidelines waiting for 1390-1395


    I'm goin' all in bitches!

  113. Trying their best to beat the price down this morning and keep the longs nervous from jumping back in.. what a load

  114. Why would the government reallocate retirement funds?
    To quote Willy Horton, "that's where the money is."

    It will be done for "your" own good because the markets are risky so some percentage of your retirement funds must be in the safest possible investment, U.S tbills.

    I believe that the politicians will do anything up to and including murder to keep their game going.

  115. eric#1,

    Thank you. That's why my earlier of "wait and see".

    I made a statement about "draft legislation" because one of the opinions I had read on this topic stated that language regarding IRA account changes had been attached as a rider to an other bill in congress. Neither one of them made it out of the house, so nothing to worry about yet. However, as a result, it may be difficult to find a "draft" of that rider.

    Daniel Ammerman is one author who has written on this topic, but he is also one of the "purveyors of fear".

  116. Harvey says the EE tells Gartman when it is going to raid, but not when it's going to cover.

  117. I follow both Armstrong and Sinclair. I think Sinclair in his article today agrees to disagree with Armstrong. He does have healthy respect for Armstrong which is confirmed by the fact that Armstrong is one of the few guys who are linked from Sinclair's website.

    I did get to read the latest article of Armstrong but I was surprised to see a type written article rather than one on a computer. The reason is I thought Armstrong got released from prison recently and he may have been able to access a computer.

    I hold physical and I am trying to not get swayed short term gyrations.

    'Remember a watched pot never boils'

  118. can anyone point me to the armstrong article? thankyou

  119. There is no question in my mind that the Government is looking at any large source of available money.
    401k's, pensions, trusts etc.
    They have already raided Social Security years ago and replaced one paper obligation for another.
    Why would they stop there if they could get away with raiding S.S.?
    We have a Fed. that digitizes money at the click of a mouse somewhere like it's no big deal and they are publicly stating they are trying to drive the stock market higher in a desperate bid to raise asset value's. The scheme is out in the open yet it seems like it's normal and shouldn't be questioned at all?
    The psychology of all of this is fascinating/scary if you allow yourself to question our new "normal."
    Desperate times breed desperate actions.
    They are out of control due to desperation and 401k's and pension funds will be tapped with no afterthought. The ball is already rolling regardless of all the denials of such a thing ever happening. Anything of public/private value is fair game. I mean, they are actually selling public assets (Gov. buildings, land, etc) to lease back or just cash out while they have max. value.

    The "temporary" nationalization of 401k's and pension funds, trusts etc. will come about "due to a grave threat to our financial sysytem that threatens the security of our country as we know it."
    Thats what the party line will be roughly.

    Does it appear to anyone else that practically no politicians (including Ron Paul) are in no hurry or desire to change the Fed's mandate by congressional action or to actually do anything serious about our budget? They sense hopelessness or they are watching the pre-bankruptcy plan unfold. Either way, it sucks.

    My opinion is that they all are on board with steering the crash of the U.S. as gently as possible into the ground. They see it as inevitable.
    How else do we explain all the inaction by the pol's when it's obvious our system will crash if radical changes aren't made?We've been told the obvious for years yet no one does anything about it. Why?
    There must be some plan to crash this economy in such a way that we are counting on taking down other countries economic strength at the same time as our's. We obviously retain our military might and all the other things of consequence that we ran up on a deficit charge card. We are going to leave other countries and our own citizens holding the bag is what I see. Just another banker paper scam until the gig is up and then they change the laws or accounting rules, again

    Make no mistake and take no offense but Repub.'s suck just as much as these Dem.'s do. I'm independent which is a fancy way of saying I don't trust either party to do whats right for the people of our country.
    Obama and his naive Lib. cohorts are the perfect bunch at this time to crash the integrity of the U.S. in a variety of ways. Just look at how this Libya thing is playing out. Half-assed, ill conceived with no palpable leadership present. Obama seems disinterested and Hillary is on record saying she is done in 2012 as Sec. of State.
    Why is she even staying on now? It's not because she's doing a great job.
    The whole charade of leadership or caring what is headed our way has either been a well choreographed and scripted disaster or our Central Gov. is completely void of leadership, idea's and sincerity on all levels.
    We the people, are getting screwed because central planning is working perfectly or because we are void of leadership and patriotism at the highest levels when we need those qualities the most.

    Are we in some kind of dark age's when it comes to reasoning or is it all by design?
    Sounds conspiratorial, I know.
    There is a reason why Government doesn't want you to have access to your 401k, pension, IRA's etc. until they want you to or you pay a heavy penalty for doing so.
    Ask yourself, why might that be?
    Total control of you and your dependence on them. Period.

  120. Paul -
    I think you mean Willie Sutton. Willie Horton was the murderer who Dukakis let out on furlough.

  121. Way I see it is probably too simple. I think the bullion banks are of course both long and short Silver and Gold in contracts and what they do at 8a.m. many mornings is just pull all the bids. Its much like the flash crash of May 6 2010. They say they are always there to 'provide liquidity' which of course is b.s.

    So you get elevator drops. They fake bids and then pull huge amounts suddenly. The way to fight it is either to simply BTFD or to organize metal vigilantes to make community bids strong in the preMarket so that they can't crater the market in huge down candles. But most vigilantes do not want to be buying SLV and GLD so therein is the problem. Just some thoughts.

    The reason Blythe uses the preMarket is because its 'thin'. Its like playing football and then at half time one time goes into the lockeroom and the other stays out on the field and runs up the score, moves the goal posts around and rapes all the cheerleaders. Its the oldest,sickest trick in the book.

  122. The way I see it WWIII has already begun. Only it hasn't been announced. The conquest of Africa and its resources, securing it against the Chinese and to a smaller extent, the Russians. The old colonial tactic of using military force to steal and confiscate, pillage and hoard much like the English and Spanish and Roman Empires did before. When you don't make anything anymore except weapons the best way to ensure your Empire is to steal. We will get boots on the ground soon in Libya as a result of some fake terrorist attack or some fake CIA inspired reversal in Libya. They will move into Somalia and Sudan and Zimbabwe and other countries all to secure 'the free flow of oil transport' and guard the Suez on both ends. The Endgame as always is to Balkanize all of Africa and shatter the weak nation states there. How much the Chinese will tolerate this is anyone's guess. These are all disgusting warmongers,liars and sociopaths running things in the Pentagon and State Department. Pres. Hopey McChange is pure puppet and so obvious you can see the strings tugging on his appendages. So what we get here for an economy is ultimately a National Garrison State much like in "Children of Men".