Wednesday, April 13, 2011

Austerity, Schmausterity II

Here's the original, which I wrote almost three months ago. I'm giving you a C&P because, if I had the time, I'd just type this same thing again. This was written on the morning after the "State of The Union" back in January. That the metals were sold off today because President O'bottom is vowing spending cuts is beyond ludicrous. You have to be a brainless Commodore 64 or a clueless, moronic, thieving money manager to fall for this BS and outright MOPE and SPIN.


WEDNESDAY, JANUARY 26, 2011


Austerity, Schmausterity

Lots of BS and SPIN this morning about President O'Bottom's speech last night. We're being led to believe that the most liberal and progressive president since Wilson has suddenly become Margaret frickin Thatcher. What nonsense. For some no BS analysis, watch this interview of David Walker. I've met this man before so please trust me when I say this: He is an honest, non-partisan number-cruncher and a standup guy. He was the Comptroller of The Currency (there's a oxymoron for ya) for several Republocrat presidents. He knows his shit. Listen to him cut through the BS: http://www.cnbc.com/id/15840232?video=1767081323&play=1

Besides, as we all learned a few days ago, cutting spending at this point will only work to eliminate any fractional "growth" the economy is producing. 
http://www.zerohedge.com/article/what-does-uk-stagflation-mean-us-and-western-economies
And growth is the key. All of The Ben Bernank's bets hinge upon the resumption of economic growth because without it, tax revenue only continues to plummet, which prompts the need for greater and greater spending, which means we are farther and farther away from the point of no return, which means that spending must increase again...
And, hot off the presses is this, also from ZH: 
http://www.zerohedge.com/article/cbos-revised-budget-sees-2011-deficit-rising-500-billion-15-trillion-4-trillion-deficit-thro

At the end of the day, why would any rational, well-informed person sell their precious metals? Additionally, when selling your PMs, you are converting them back to fiat...the same fiat that is losing value day after day. Do not let your heart be troubled. We are correct.

The rest of the post can be found here:
http://tfmetalsreport.blogspot.com/2011/01/austerity-schmausterity.html

At any rate, that the PMs held up as well as they did with declining grains. crude and copper is very encouraging. More later. TF

p.s. Somebody sent me this. A nice visual aid:

127 comments:

  1. This comment has been removed by the author.

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  2. No shit, first?

    The other Michael

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  3. This comment has been removed by the author.

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  4. I could'a had first, but I deleted my comment because I thought it was stupid.

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  5. Long time viewer, first-time poster here. Love all the acronyms. I have that itchy feeling that Gold will soon be renewing its attack on 1475. I'm out of powder otherwise I would be buying right here. Breach of the Turd-lines is my sell point.

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  6. Eric,
    I declare you honorary first.

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  7. Yes, Diplocat, it is a bad thing. Have you met a "liberal", in the current meaning of the term, who supports limited government and less spending? Is there a "liberal" who believes that the U.S. Constitution is a document of negative liberties, as the Founders intended it? Is there a liberal who recognizes that we have a spending problem, not a revenue problem? Show me that liberal and I'll recant the "bad thing" comment.

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  8. CNN Woman Anchor:

    "The US Credit Rating is the Gold Standard of the World."

    Unbelievable how subliminally the truth is found within the disinformation.

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  9. ginger

    OK, so you are getting it now. Just don't let all the chatter about the wins and the relative quiet about the losers make you dive off into stuff that is way more leveraged and complicated than you are ready for.

    The idea that "everybody is doing it, and making tons of money, and maybe I'm missing something" is FALSE. Stick to what you are comfortable with.

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  10. Scott,
    She has a rude awakening coming I fear.

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  11. HA HA. On netdania, check out the XAG volume at 13:38. Dirty dogs :)

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  12. Jack-a-roe: LOL! First time poster and you come up with a gem like "Turd Lines"! Well done, sir. And its no wonder they hold up so well- after all, wouldn't each of us be rather hesitant to cross a Turd Line? I know I would.

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  13. Mr. Turdmeister, I want to thank you again for your lovely and literate playground in which to share our information around precious metals. I feel like I'm learning by standing on the shoulders (and sometime on their backs!) of giants. Trading is something I'm long out of; I made my bit in the "Internet bubble" and my personal life - well, nobody but my girlfriend and kids care - but I'm holding on to what I can by having been all in for quite a while now.

    As a kid, I came to respect the writings of Thomas Paine and learned - over the years - a great deal about American (and English and world) history. I recognized that the two party system wasn't "in there" and the utter sham of it all became apparent to me in 1972.

    I write all this for two reasons. One, Paine knew precisely about the corruption inherent in paper money (as did many of the Founding Fathers) when he wrote: "I remember a German farmer expressing as much in a few words as the whole subject requires; 'money is money, and paper is paper.'" in his work "Dissertations on Government, the Affairs of the Bank, and Paper Money." The other reason is that by controlling the language, the argument is perverted. The terms "liberal" and "conservative" and "left" and "right" and even "democracy" and "republic" have been so far removed from their true meanings that they only serve to DIVIDE AND CONQUER. Please don't fall for it...

    The other Michael (There have been at least 2 others!)

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  14. "Stick to what you are comfortable with."

    Sage advice! ..Thank you again, Eric. For the most part I do.. and if I'm not happy with what my limitations are I just try to learn well before I dive into a deeper end of the pool. NO one can be more paranoid about their limitations than me. I know them well. They are many. So, it makes me very very careful. You gotta stay nimble, humble, trainable.. right? :] ....I appreciate all the good info/advice. ...I hope Erica is still reading.

    ...Gotta go for late lunch.. ..........strange craving for bacon. ...BLT? :]

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  15. a moldy ham sandwich-- i'm still waiting for that dip to 38 this week.
    then i will eat a moldy ham sandwich.

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  16. I'm standing over here behind the Turd Line ...with Pining.

    ..LOL.. that is priceless.

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  17. The Turd should take his own advice and avoid political diatribes.

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  18. Be Advised Turdites:

    USD Fed Releases Beige Book Economic Survey @ 2 PM

    BTFD

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  20. mmmm bacon.

    Gotta get me some. don't know why....

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  21. OK, we are two minutes into the speech and here is my translation...

    "If you make more than $250K per year, get ready to really take it in the ass in the name of 'giving a little more becuase you've benefited more.'"

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  22. My impression of the history of the term "liberal" in the States is that all the solid, free-thinking, intellectually self-sufficient type connotations that the term "liberal" had classically were co-opted by the Progressive party* after WWII.

    As Michael pointed out, the lexicon is used against us...


    * Did you know: there actually was a Progressive candidate for President in 1912 and in 1948? Liberal Fascism by Jonah Goldberg is a hell of a read for those younger folks like myself who've had history hidden from us most of our lives.

    /rant

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  23. Actually Turd, I have never met a conservative who held to your points either.

    So anyway, back to making some money off this godforsaken silver/gold market . . .

    SK

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  24. Diplocat, you realise that the net overall impact of this 'Slashing spending all over the place' is that spending increases every year in real terms.

    There are no cuts. I wish there were, but the official figures do not show any evidence at all of a reduction in Govt spending of taxpayers money by so much of a single pound.

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  25. mmm - my sixteen year old came home at lunch and made me bacon and eggs - just can't get away from the topic.

    I am still happy that we are bouncing around above 40 - gold is locked in again - it keeps getting its boots stuck in the mud.

    I keep meaning to sell Yamana, and then it will look like it is about to do something - it must be shorted to the max.

    and Ginger - I am basically flat in my miners account, and in that time silver has risen by 25%.

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  26. Diplocat

    I, for one, did not know that. Thanks for helping to educate us backward "yanks"! :)

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  27. Bacon festival at Denny's...even a Maple Bacon Sundae!

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  28. SSK - are you SSKILLZ on Ihub?

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  29. I will say this, Obama's speech coach has done a terrific job, the mans acting abilities have improved 10 fold.

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  30. Dang! My pork bellies are in the can today!

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  31. @Ginger
    Maybe you could see some trading insight in the book "The Disciplined Trader: Developing Winning Attitudes" by Mark Douglas, byline Emotion kills successful trading... That book has helped me to see that 1)I am not alone in my stupidity and emotional over-reactions in a trade and 2)Once you recognize the pattern(s) causing your losses, go forward and overcome that losing response.

    In times when I am winning in my trades, it is partly because I read that book over and over, not all at once but I put it down until I realize I am losing (AGAIN), then I start in right where I left off reading the last time. Maybe it can help.

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  32. Quintas

    Ain't that always the way? Not sure if he was the first, but I believe Wil Rogers liked to say "Figures lie and liars figure". Always true.

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  33. mmm...hog's maw plus moldy ham sandwich...

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  34. Ginger

    I don't think pathoekstra is the first to recommend that book to you... ;)

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  35. WTI creeping up, but PMs not following

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  36. I'll second Liberal Fascism by Jonah Goldberg. Real good stuff.

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  37. Obama is reading straight out of his Audacity book. What a loon. How can we possibly endure 6 more years of this?

    As for the nice visual, I agree. It's great. But aren't those ... nickels? Made from ... uh, nickel? Just wondering ...

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  38. Xty - We sail to Key West in the summer. The Bahamas with 7-11's. Great fishing. Not crowded. No passport or duties. Lots of fun on the Duvall crawl in the evenings. Fuel is less and we know lots of folks all through the Keys that we visit with. We bury all out PM's out on the flats. No one looking for gold in the Keys, right?

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  39. I'm sure all these "cuts" refer not to cuts of actual spending, but reductions of future spending increases. Solves nothing.

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  40. Excerpt from this morning's email from APMEX:

    "The wait is over! You asked to be alerted when America The Beautiful 5 Ounce Silver Coin Set became available. This is your only notice and you must take action quickly. We had over 18,000 requests for these coins and you were selected to receive one of 3,500 emails with the opportunity to purchase only one of only 3,100 available sets. You must act now because this offer is first come, first served and you don't want this opportunity to pass you by.

    We are offering these coins to you at unprecedented pricing below melt value with valued-added authentication, grading and encapsulation by PCGS. In addition, your set is packaged in a custom designed box with a foam insert with five slots specifically cut, one for each PCGS holder, to ensure safe delivery and convenient for long term storage. As you already know, only 33,000 sets have been minted of the first series of these immensely popular coins, making them one of the most coveted coin series ever released.

    These "large format", five ounce .999 Silver coins are minted in the same design as the popular America The Beautiful quarter series."
    --------------------
    After ordering the set online, I telephoned APMEX in order to confirm that the order did indeed go through.

    It did. Holy sh!t - now I know what it must feel like to score with the hottest girl in the classroom...

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  41. this Nazi thug TSA goon groping a 6 year old at the airport has me more disturbed than usual today. People had better wake up. The next step will be the cattle cars. This is satanic and disgusting. I am leaving the U.S. just as soon as I can. This place is crippled beyond repair and being nazified by the hour. Sorry for off topic but its all on the same subject. Nonstop lying,manipulating thuggery by the hacks in power. They will stop at nothing now and are fully programming the Sheeple to move slowly into the showers.

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  42. Me too Xty. :( My account too.

    Bill,
    Maple Bacon Sundae! ....salty bacon with ice cream.. that would HAVE to be good!!! !

    And I gotta say..
    Sadly, just like the progressives have seeming hijacked the democratic liberal party ...they have also hijacked the republican conservative party. It's all one and the same now. We are headed in the same direction with either party. I think we just get there at different speeds but it's the same place of destruction for the USA.

    Republicans are not the same as conservatives anymore. Republicans are much more liberal these days. You want progressive policies?...just pick your poison.. democrats or republicans should make you happy.

    What makes me really angry is that in listening to this speech right now.. how can you stand there and preach about how the country is in such bad shape from all the debt and spending ...and never even acknowledge that YOU are the very one who sped us up to warp speed with the spending?? Before the hate mail starts.. yes, I know Bush was bad. They all have been in the recent past decades. But this guy is unbelievable in his bold-faced assertions that we have to 'control spending' and 'get the debt under control'. Yeah.. like go back two and a half years and put your money where your mouth is. Totally disingenuous.

    OldNavy, pathoekstra,
    LOL.. yes, I have that one in my journal. I so appreciate it and I desperately need to go on a book buying spree. I need to just make time for it. (maybe stop reading so much here.. and pick up a book!) ..Anyway, heartfelt thanks to both of you for this one.. I will get it soon!!

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  43. Ladt Gau Gau

    Actually, I think the nickel is made mostly out of copper. It's the penny that's made out of nickel. (I'm not makin' this shit up!) :)

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  44. Xty,
    Your loved. Silver won't buy you that

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  45. For any neo-turdite who thinks my "political" positions aren't subtle or nuanced enough, go back and read this:

    http://tfmetalsreport.blogspot.com/2010/12/preparing-accordingly.html

    BOTH PARTIES, "LIBERAL" AND "CONSERVATIVE", ARE RESPONSIBLE FOR THIS MESS. PLEASE DON'T ATTEMPT TO PAINT ME AS SOME TYPE OF SHILL FOR EITHER BRANCH OF REPUBLOCRATISM. ALL I KNOW IS THAT THE PATH TOWARD MORE GOVERNMENT AND LESS LIBERTY IS NOT THE ONE TO TAKE.

    This is my last comment on this matter.

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  46. booooooosh whacker/lil scamBO. white house/black house. Wouldn't trust any neoCONoplian liar rat bastard. Milking a public office for money & gain while the people suffer. It's one giant ivory toilet bowl needing a flush of sewage at distribution central; DC. Goes for the CONgress/SINate in marshmellows & spades. I equally loath all politicians of any race, color, religion, creed, or gender life style.

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  47. I will agree to keep "pure politics" off of this blog other than as SPECIFC actual policy affects the subject matter. Maybe on the new site there will be a "political forum" for people who want to engage in "Dem vs. Rep" and "Cons vs. Lib" debates, but I think that most people on this blog can agree with the following, otherwise 99% of us would not be here in the first place...

    ... THEY ALL SUCK, WE ARE STUPID AND WE ARE DOOMED... given the path our country has been on for ONE HUNDRED years now, not just the last 11.

    It's taken 100 year to get where we are economically and a lot of D's AND R's were responsible along the way.

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  48. Seems it is a giant turd sandwich and we are all going to have to take a bite.

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  49. Red Team and the Blue Team are complete destroyers of this Country.

    Now if we can get that message out to the sheeple we may have a fighting chance here.

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  50. Damn Turd... I was typing while you were posting!!!

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  51. Ginger

    Seriously, Ginger, pathoekstra is totally right on. Successful trading is all about controlling your own TFA (thoughts-feelings-actions) cycle. None of us will ever be really good traders until we master this skill.

    This book addresses the very things you have been talking about here on the board. Don't find time to read it, make time! Also "Trading For A Living" by Elder!
    :)

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  52. Let's just sic afrum on the lot of them!

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  53. Ginger,
    Yes I am still reading but I can barely keep up. Thx for remembering me! This is a new world, new language, I don’t understand most of what everyone’s talking about. But for some strange reason, I feel welcome and at home here. Just not quite sure where I fit in.

    Eric, thx for the encouragement to post more. I didn't think I had much to contribute beyond questions. But you're right...I do have my perspective….

    I respect and am in awe of the experience and knowledge y'all have in this universe of stocks, trading, global economics, understanding the interplay among different economies, commodities, etc. This is new territory for me. Though I AM surprised by how I'm actually enjoying learning about it (well, not the trading part). I think I ignored it for so long b/c I'm disgusted and saddened by the greed and materialism that keeps capitalism going.

    Right now, I’m trying to learn, be awake to what’s going on in the economic climate, be smart by buying PMs with the resources I have AND not have too much of my attention diverted to my computer and money matters. AND not get swept up in fear and scarcity mindset.

    As the recent Japan earthquake and tsunami attests, life is uncertain. Forget about someone taking my home safe...I could watch my entire house float away!! (I live in the Bay Area so this is actually a real possibility...)

    With all due respect to this world of trading and analyses, I am kinda eager to figure out my purchases so I can take a little break from all of this and not let the beginning of spring pass me by. It’s phenomenally beautiful here with buds and blossoms breaking. Nature, time with good friends (and communities of good folks like y’all) is where I find hope and inspiration each day.

    Erica

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  54. turd u said the right thing.

    at the end of the day, the government is just a puppet anyways. there is no power in d.c. anything they do will be subverted by those with power or money.

    u said it best in the past when u said...there will be a QE3 and the game is basically over.

    for the record, i have never voted at the booth, never will. all voting has to be done with currency whether dollars or PM

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  55. st comment on the subject...This is a serious speech by a community organizer.

    This is not a serious speech by a leader.

    Nothing more to add.

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  56. @diplocat
    Two peoples separated by a common language. I too appreciate your help with that definition of the term liberal. The whole British government thing is very confusing to us cousins across the pond. Thanx for that clarification.

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  57. Very nice, post-O'bottom rally in the PMs on the Globex. Very nice.

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  58. Good grief, I was really *not* trying to start a political conversation with my opening comment. I've never expressed my political views on this blog or criticised the political views of others, and I wasn't doing it with my posts above either.

    It was just a daft little joke. I'm genuinely sorry for starting all this off: I'll remove my comments and won't bother you again. But I have to say that I do find the over-reaction rather startling.

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  59. I'm voting by signing a check right now to Provident. Mo metals, mo metals :)

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  60. ...sitting on my hands here...did raise some dry powder last Friday but haven't allocated it...

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  61. And there goes the DXY lol....this is great theater.

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  62. .....and the PMs go up, after the market realizes it's just the same old booshwah, and nothing will actually change.

    Ginger-

    Like you, I'm a newb at trading, and my learning has cost me some $... my only advice is start with real money but with small amounts, so that you actually have skin in the game (it's too easy to forget fantasy trading losses), but with small amounts the lesson is learned but the pain is not so great.

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  63. Oh good dollar is going up..I'm rich!!

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  64. To further Turd's point, THIS (http://tinyurl.com/tarpvotes) says it all.

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  65. 1 min XAG vol @ 14:47 = 25,525
    holy CR@P.

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  66. Oh, and Turd, you can rail on about politics, but dissing the Commodore 64, them's fightin' words! That was just the best little computer, I did all sorts of hardware mods and software hacks and it just kept running, it was indestructable!

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  67. Let me see, A 4 Trillion reduction in spending for the USA in 12 years, by my calculations a cup of Starbucks will be 4 trillion in 2023.....

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  68. Dip, lighten up bud :) You didn't do anything wrong. Certainly don't stop posting. We're Americans and tend to take our politics quite seriously, as you fellows found out in the late 18th century ;)

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  69. Commodore nuthin'. Go TI-99/4a :)

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  70. Is anybody else disappointed that they didn't smash silver below $40 today. I had all my orders ready and waiting.

    Is that it..is the "correction" over?

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  71. OldNavy,
    I will not let the day end without sleuthing out those 2 books and ordering them. ...With the business and everything else going on at the same time.. it's easy to keep putting things off but.. I see the wisdom in what you and pathoekstra have suggested (and suggested more than once) ..I am on it. I promise. ..Mostly, I just thank you (for caring).

    Fortinbras,
    I couldn't have said it better ever. I tried.. and I couldn't! ....Sorry for the political talk.. ..back to our pm's....

    Diplocat.. don't go! You taught me something. I didn't know that about the term liberal. ..Look.. to each his own philosophy. Some of us are just right and others aren't.. that's all.

    I'M KIDDING!! ! :D

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  72. Yes, Liberal is a dirty word in America because ideological neocons have spent years demonizing those who disagree with them (democracy?)... and millions of sheep fall in line in mindless lock-step.

    Rational people respect the opinions of others and work out their differences without the politics of fear or demonization of those with differing opinion... both ends of the American political spectrum have clearly lost their way.

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  73. On the subject of books, and "preparing accordingly", I am currently reading "When Money Dies". I didn't think it would be as interesting as it is, since it is about the hyper-inflation in Weimar Germany and, of course, that was a very different situation than the USA is in today. However, I have found more similarities than I expected and what the book really does is show how failure of the money affects people and destroys a society. Sobering and, if you expect hyper or even just strong inflation here, I think it's a must-read.

    Turd - I know this was mentioned back when you first asked for suggestions for the new site, but a book list or book review that members of Turd Town can add to would be cool, I think.

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  74. Dip, As the Great George Bernard Shaw so eloquently surmised...

    "England and America are two countries seperated by a common language"

    Dont stress it....(they're yanks mate)

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  75. Somewhere Ross Perot is laughing.

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  76. oldNavy: That would make a very good topic in one of the "forums".

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  77. This is for you, shill:

    http://www.youtube.com/watch?v=9xT8jS3Y1aQ

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  78. Diplocat

    Stand fast, mate. I forbid you to leave!!

    (We really do have a sense of humor here. Stick around and you'll see.)

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  79. Good lord: AG up 11%+; GPL down almost 3%: SLW flat. Sheesh.

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  80. Just typed in "Turd Ferguson" on Google to see the video of him and guess who is at number 1 on the list...thats righ your very own TFmetalsreport website.

    Looking good Billy Ray.

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  81. ivie

    patience. it is likely we have to grind sideways some more before the next leg up. So far low 40's looks good

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  82. You can find a .pdf of "When money dies" at

    http://www.iamthewitness.com/books/When%20Money%20Dies.pdf

    Great book.... I don't think we are headed for hyperinflation, but then again the folks in Germany didn't either. And I think even the normal kind of high inflation will give us some of the same effects as hyperinflation.

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  83. Erica,
    You are in good company here. Many at all levels hang out here. I have been on boards where the new people are belittled and ..almost laughed at for being so green. Doesn't seem to be the case here. It is a good learning environment. I try not to take advantage too much as I fear that overposting may make the pros puke at the sight of me. ..Today I have gone over my self-imposed post limit. :] ....I feel sometimes I come across as too needy and don't want to abuse my welcome. ..That said.. no one has ever made me feel that way.. just me trying to respect the group and be sensitive to the eye-rolls behind the computer screens. :D

    This is a great group is the bottom line and you have some great questions about how to protect/preserve your wealth. I remember your posts from several days ago. Many here, including me, would love to have your 'problem'!! :]

    kiwi,
    Got some skin in the game ..but just a little. You'd think it was a million bucks though the way I fret over it. ..Didn't we start options at about the same time? How are you doing? ...Holding my own.. ...looking forward to the next couple of weeks as per Turd's commentary!

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  84. GPL ain't getting the today. Any know why? The share dilution is done. They will announce more positive exploration results any minute. And still it flounders.

    THe only way to make money today is with AG. And I don't own it. EXK has given a little love though.

    SK

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  85. Man, enough about bacon, I'm dying for bacon and fried eggs right now and trying to cut them out of my diet...;-)


    About the Prez.'s speech...more blaming and not mention the necessity of raising the debt ceiling further or the need to do it very shortly. Not one mention of cutting some Govt. jobs (except the military it sounds) not one mention of trade imbalances and not one mention of who we are actually borrowing from for the most part (ourselves via the Fed, he rolled out the Chinese example again), not one honest comment how the recent $38 billion was entirely offset by a mere $188 billion budget deficit in March 11 alone etc.
    I didn't expect him to address anyone of those but he successfully gave a heart felt speech that was easy to get sucked into in a feel good way on the surface IMO.

    I have agreed for years that both parties suck just like TF outlined in his post while I watching the Prez.
    It makes more sense to me that if we are going to dig ourselves out of this hole (I don't think it's possible at this point) that across the board spending cuts in every program and Govt. institution is fair and necessary coupled with outright elimination of some Dept.s all together.
    A drastic overhaul of the tax code that spreads the pain evenly as could be expected. Drilling for and using our own resources would be a enormous thing in of itself..

    OK, enough of that. The PM's and commodities not tanking and actually rising in price as he spoke is the true indication of what the smart money abroad (and here) is thinking about his speech and proposals..
    I agree with TF and see this as very positive also.

    PS. Love the 20 silver dollar visual and TF's O'Bottom comment.
    Pretty friggin funny!

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  86. Pat I feel your pain. SLW is my juggernaut and GPL my main spec of the day.

    SK

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  87. You pork belly jokers have me frying it up!! Pavlov's dog bit me. Don't be goin ballistic ape shit on the politicians/bankster fruadsters. Law protects the lawless ilk, blood suckin low life vermin. Why I've stated many times, prepare for 100% possession being the law among these lawless rat bastards. I draw the line at the threshold of my home; my circle of influence. Let them cross that without cause and I spill blood. The rat bastards taught me well while training to protect them in '71, from jungle terrorist hiding in the trees of southeast asia. It will only be neoCON 4th reich thugs front running for the crawling, slinkin ilk but my blood cries true freedom from tyranny!! I'll know when to gather with the honest at heart to free our constitution from mealy mouthed maggots. Not yet an inner voice whispers but soon!!

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  88. I'm reading "When Money Dies" right now actually.
    Good stuff and it's been raising my eyebrows as I try to envision where we are at and what might be coming.
    I agree...A booklist or required reading list of articles etc. that are ranked by those of us on here would be great.
    Ignorance might be bliss (not for me) but it could also be dangerous in a survival sense these days.

    GTG pick kids up from school....a bit late but still early.

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  89. I second oldNavy's recommendation on "When Money Dies". Very riveteding and sobering at the same time.

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  90. And this one is a classic:

    http://www.youtube.com/watch?v=skQuhoG7fFM&feature=related

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  91. Nothing unusual here I don't think.

    Great Panther Silver Limited $ 3.99
    GPL -0.10

    Short Interest (Shares Short) 156,200
    Short Interest - Prior 160,100
    Short % Increase / Decrease -2.44

    Trading Volume - Today 2,352,299
    Trading Volume - Average 3,922,800
    Trading Volume - Today vs. Average 59.96 %

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  92. @ SSK

    You seem to be into the miners quite a bit, what du you think of Paramount gold and silver PZG ?

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  93. GFMS surprises with their strong prediction on Gold

    http://traderdannorcini.blogspot.com/2011/04/gfms-surprises-with-their-strong.html

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  94. Erica,

    You said: "I think I ignored it for so long b/c I'm disgusted and saddened by the greed and materialism that keeps capitalism going. "

    With all due respect, I believe you should you should educate yourself.

    We used to own a business with 150 employees. If we were lucky this greed may (sometimes not) start to produce a profit in the 12th month. By the way, those 150 families were all paid on time every two weeks. The tax people collected their share. The suppliers paid their employees, and they paid their taxes.

    Oh yes, perhaps we should not have invested the capital and put it into bonds, some years that would have been better without all the heartache.

    Respect the Capitalists and understand who is really the drain on society.

    Mark (2)

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  95. afrum

    You're stirrin my blood, man!

    Ginger et al

    Yes, there are quite a number of us here who are at more or less the same level. Ginger, your posts often speak to and for me and I am sure many others would say the same. You offer more than a little bit of good info and wisdom yourself. I can think of a number of good ideas and stocks I would not know about except for you.

    But, I will echo the words of Eric#1 and others - Don't spread yourself too thin. Focus on what you know best and get better at it.

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  96. How about getting a Mint to make a "Turd Round"?
    Put Blythe on the reverse

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  97. Silver's volume very bullish

    Silver's volume today is VERY bullish. On the NY Globex, between 2 PM and 3 PM Eastern Time (ET), silver's price rose about 30 cents on very, very heavy volume. Indeed, according to NetDania.com, this one-hour volume is one of the heaviest one-hour volumes in days, if not weeks. It is beginning to seem as if the EE's ridiculous short-selling in recent days did little more than to "compress the spring," making the spring ever more tightly coiled. Furthermore, it is possible that this tightly coiled spring is about resile violently, sending silver's price, much, much higher -- and soon, too.

    Watch out above!!

    -- Paul D. Bain
    paulbain@pobox.com

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  98. afrum, you are a true patriot sir.

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  99. JPM the whole truth and nothing but the truth

    http://truthingold.blogspot.com/2011/04/jp-morgan-earnings-nothing-is-but-what.html

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  100. DD is making a call for $45 silver by month end. We are repeating the same pattern as March 14-18.

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  101. Lol @ copper. I laugh at all the smartypants that got shaken out of the PMs at the beginning of the year and thought they could do better with copper or food or other commodities, and perhaps even bragged about it.

    You don't abandon or short the PMs. Not in this bull market, and for sure not when they're actually in shortage, as at least silver is now.


    Turd: thanks for the summary on the budget speech, always good to see bad propaganda dissected immediately. You're doing the less experienced among us a great service.

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  102. Thanks Paul, Good post. FUBM seems to be forming as we speak. Hello everyone !

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  103. "dd said...
    Silver very heavy here. I have joined the dark side and have gone short paper silver at 40. Will cover and go long if we see 39.

    April 12, 2011 2:48 PM"


    "dd said...
    DD is making a call for $45 silver by month end. We are repeating the same pattern as March 14-18.

    April 13, 2011 3:20 PM"


    So, when did you cover those underwater shorts?

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  104. darth-

    I'd love to see the court case when they try to charge us for making "Round Turds" ....;-)

    ginger-

    Actually, you are ahead of me, I've not tried options yet, still trying to just buy low and sell high .... on a good day, that's what happens ....;-)

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  105. Cheers to our favorite angry PM lover and poetry in prose writer, Afrum

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  106. Paul Bain - look out above is right. I had to turn away as more proximate reality beckoned and find silver at 40.57 - not bad, and gold is starting a steady climb.

    And I hear there is an increased demand for pork bellies so I am selling all my miners and going into pork belly futures - maybe I can eat my way to riches. Forget crashing JPM - buy bacon and save my bacon!

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  107. paulbain,
    Today's 2pm-3pm volume is great, but it pales compared to the 2pm-3pm volume two days ago.

    DD,
    Is that the same DD that shorted silver at $40 a day or two ago?

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  108. Markus, DD covered when silver held firm and refused to break 39.75. As a trader, I have to stay nimble. For the record, I owe physical silver and gold for the security of my future, but trade the market based on very short term price action. It definitely looked as if she wanted to break support yesterday and I didn't want to be caught with my pants down, but when she didn't, I reversed and reestablished my long position. Today's actions reaffirms my decision.

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  109. Turd, and or other veteran PM traders here -

    I apologize if you have addressed this already, but I would like to know what your take is on this.

    http://www.bloomberg.com/news/2011-04-12/silver-options-bears-boost-bets-on-metal-s-drop-for-second-day.html

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  110. bot 30 shares AGQ with 7% trailing stop loss (~2x avg daily range)

    btw anyone else trading agq, can u tell me why the volume on options is basically nothing? more people in my bodega this morning. don't think i'll ever buy agq options again, this morning spread was a $1

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  111. And my entire miners' account is down, in the time I wasn't looking, a grand total of 36 dollars. It is true that we tend to talk about winners - not just because we are egotistical and want to look better than we are, but I would hope because we want to steer people toward success. But steering people away from failure is very important too - not quite as important I would suggest because one should always try to move toward positive situations rather than try to get away from negative ones.

    But then why do I still own Yamana?

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  112. Paulbain,
    Am I missing something? We're talking May Globex, right? I'm seeing better 2pm-3pm volume on the three previous days compared to today. You have to go back to Thursday of last week to find weaker 2pm-3pm volume.

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  113. Mark,

    Apologies if I wasn't clear, I didn't mean to infer that all capitalists were greedy. I wouldn't include your family business in that category. I was talking about the utter and explicit disregard for human health and well-being.

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  114. @SP
    I trade AGQ actively. Often as a day trade. Also have a core position in AGQ I have been holding since August. There are others here who are also active in AGQ. I do not trade options on AGQ because I am not happy with the volume. (liquidity) That is most likely the reason for the large spread between bid and ask. BTW I do not use stops. Good luck it is a great trading vehicle

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  115. Yes Afrum is 100% correct, It is the Law which protects the lawless. If we wish to free ourselves from the madness we must get to the very bottom of the sludge pit. It is the law which allows the nightmare to continue. It is the Law which allows a fiat creating bank to take your hard earned home. Start with researching your own birth certificate and who owns it. We own nothing and have few rights. We are slaves to the FPTB by Law! If your home is in trouble start here: http://one-heaven.org/property_home/home_contents.htm

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  116. Arum that post of your's was dripping with passion. I can relate.

    Did you hear they are coming for Wayne Madsen? Apparently some research he was doing. More on the A. Jones show today.

    AG seems to have sprouted a John Holmes. 50% retrace of its body slamming a couple of days ago. Nice. Be very interesting to see how it behaves tommorrow and Friday.

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  117. On Melman's article "On Freedom and Gold's Future" he states: I believe the solution to the problem is to reverse that way in, to start diminishing government and reduce its stranglehold over commerce.

    My question for the group is do "Do you believe that government has a stranglehold over commerce? I can agree that governement is too big, but they have managed to give free rein(reign = rein in this case) to commerce, but only to the TBTF. Plenty of commerce seems to be thriving though, albeit crooked.

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  118. Saw the first ad in the newspaper today as follows "Cash for Gold & Silver". Sign of the times.

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  119. Hey Turdites, Keep an eye on USDCHF. Right now USD is at brink of going below 89.50. CHF is where the other safe money is flowing.

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  120. I m new here . Turd mentions 2 May 44 silvers. Is this an option or a futures play?

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  121. eToro is the ultimate forex broker for novice and advanced traders.

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