Wednesday, April 27, 2011

Contest Closed

It certainly looks like it will take a guess of 1555+ to win. We'll see.

More after The Bernank is finished mumbling.

247 comments:

  1. I really want a quick violent Cartel wack down so I can buy. Anyone expect an attach before Benny Boy speaks?

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  2. Gold and silver seemed to like the Fed. reaction

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  3. First time i ever hedged to win a yellow hat.

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  4. You guys should watch the 1M chart action of the USDX at netdania.

    It's like the 4th of July fireworks on there! ROFL

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  5. Wonder what Ben will name the new baby due in June?

    How 'bout QEII version 2.01?

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  6. http://www.ustream.tv/federalreserve Stream for the upcoming press conference 2:15.

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  7. Read the freshly released FOMC statement here:

    http://federalreserve.gov/newsevents/press/monetary/20110427a.htm

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  8. On CNBC:

    Dallas Fed Chairman...

    "The Fed can not end QEII cold turkey"

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  9. Brian Kelly on Fast Money/midday update had taken off half his silver position...now looking to get that half back at some point!

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  10. REPOST:
    Would it really be allowed for gold and silver to be rallying to highs just before or during Ben's show?

    I somehow cannot even imagine that.

    They have GOT to have that covered.

    For now, I'm waiting.

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  11. With 530+ new messages in under 4 hours (as I encountered when I came home after lunch) there is a great likelihood that I missed many valuable insights. Turd, when you get threaded discussions I - for one - will be mighty grateful. Thanks to one and all, and good luck!

    Ol' Michael

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  12. Sounds to me like Shalom Breath has just kicked the can down the road. No rate hike. And won't continue QE after June. So plenty of time to change that answer to the real one in the next 5 weeks...

    Anyone read it much different?

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  13. Lots of PM peeps are quite relieved right now..
    Looks like everybody was holding their breath, execpt Turd ;-)

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  14. @ ewe58

    Spot on, aside from the lack of more QE. He'll play goldilocks and attempt to confuse the market - he'll be nocommital. But in the end, he HAS to engage in further QE...or it all implodes. Look for him to try and prop the dollar during his press conference. It will like serve as a good opportunity to get positioned for further marches Northward on PMs....

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  15. I am still sitting dry powder. I just find it hard to believe that with the margin hikes and the Bernank speech that the EE will let price rise. This is just a hunch with nothing to back it, but I think we see 1 more raid down to 44.50 before we head back on run. What do you guys think?

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  16. Ginger - Remind me on the weekend to tell you what I have read concerning the two conditions you mentioned and underlaying health conditions that may exacerbate them. Food allergy being number one.

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  17. Hi Turd,

    Although I use warrants to trade I want to know more about the pattern you have identified with option expiries. I have fallen foul of it too often, though not catastrophically, so I thought I’d better learn a bit more about it.

    Can you or anyone tell me a bit more the timing of option expiry please: From reading around I understand that it is 4 days before first delivery date (+ complications if that is on a Friday or holiday) . But, is there a specific time for this. Is it at the close of the NYMEX or the GLOBEX on the 4th day before delivery. Does that mean that option expiry for May 2011 is on April 26th?

    Might be useful to share this info with others as it seems to be a consistent pattern when trading metals. Just a suggestion for you….the great wise Turd

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  18. @ Chin Music....I love to see your health related post. Been struggling with chronic fatigue for 1.5 years. Life has been pretty much hell. Thanks for sharing

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  19. I'd stay out of things today. The big money sharks and volatility chasers are out en masse. Expect multiple head-fakes and don't read too much into any move especially going into a weekend. I'm sitting out most likely until next Monday at the earliest.

    Yukon

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  20. Thanks johnboatcat! ...I'll look forward to and give a shout out re: yours & Chin Music's education on this over an upcoming weekend thread. ...Much appreciated!

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  21. Have faith in the Turd. Has he steered you wrong yet? Don't worry, we will be higher by end of this week regardless of the interim.

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  22. @ David

    Yeah, I could be completely wrong here, but I agree. If Uncle Ben doesn't do something, anything, to prop the dollar.....it will begin to collapse. He's going to try and punt, buy a bit more time. There's only one way this ends, though....and it ain't pretty for fiat. I will welcome any opportunity to get positioned at a lower price....

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  23. We get anywhere near 76.20, for a genuine renewed interest in the dollar over the next few weeks? You may be assured all the newly tax coffer-ed funds have been blown to float this dying, blind, three legged comatose financial dog. See spot die! I'd be surprised if spot held above last support broken of 73.745 after the benocide freak show. Ya gotta know china/japan sellin into every high voltage jolt to the cadaver-ed dollar.

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  24. "...to float this dying, blind, three legged comatose financial dog."

    Classic afrum! :] ....I'd love to see Turd's photo for this one. ....Wait. ..Never mind. lol.

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  25. To Turditity and Beyond! Late but FWIW 1573

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  26. yea Miners starting to percolate.

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  27. @Firedollarz

    What, Me Worry? Nah. Been here way too many times b4. Ongoing Sound and Fury, signifying nuttin'. I've grown to expect a really good show though.

    Some basic math:

    - Ag in 2001: $4
    - Ag 10 years later: up 10X
    - Total no. of top-calling dumbfucks during that 10 years: we lost count at 5,000,000,036

    The 2 chances that the trends, things and conditions that have brought PMs this far will now magically disappear, or even better, reverse:

    - None
    - Snowball's chance in Hell

    Any questions?

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  28. Seems significant to me that gold is charging higher. The speculation has been in silver which isn't outperforming for once. Those going into gold are less likely to change their minds on a whim, which doesn't preclude but minimizes the chances of a head fake in silver. At least that's the theory I'm going with.

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  29. THE MARKETS:


    U.S. stocks rose after the Fed signaled the end of its bond buying program but also showed that central bankers are in no hurry to raise interest rates.

    The U.S. dollar weakened against its rivals, slipping against the euro and the yen.

    Treasurys held their losses after the Fed's interest-rate statement held no surprises.

    Gold and silver futures extended slight gains. Market participants interpreted any signs of accommodative language as the central bank being willing to accept higher inflation, which is a positive for gold and silver as inflation hedges.

    February 2012 fed-funds futures, which measure expectations for the FOMC meeting in late January, priced in a 28% chance for the committee to lift the funds rate to 0.5%, down from a 40% chance just after the Fed statement came in and a 34% chance just before the announcement.

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  30. @ flaunt

    Notice we're currently parked at supply. Looks like it may be frontrunning for a jam down to me. If this materializes, watch the demand zones for entry North.

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  31. $46.25 is the magic level. If we get up and above this level with volume, next stop will be $47.

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  32. Metals are spitting in the face of Bennie Bernokio.

    Afrum should be here soon at his first online
    conference to speak for gold and silver....

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  33. If 46.25 breaks, i expect a boom.

    C'mon baby! Puuuuuush!

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  34. BackSeatDriver....

    What you said regarding Rogers' comments and swapping silver for gold if the GSR drops crazy fast let alone to below 16:1, and then swapping back if it widens again, yes, that's part of my plan especially because swaps of precious metals ARE considered "like kind" 1031 exchanges for tax purposes and thus, no "taxable event" occurs if you swap in same dollar amounts. There are some rules, but you can do it fairly cleanly.

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  35. If Afrum is having a news conference, I need to go find my bong.

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  36. OK. The strength in gold and silver looked too convincing to me. I bought back my silver position. Still waiting to add to my gold.

    I'm not sure if waiting for the Ben Show or not is the right thing. But I'm over 50% in right now.

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  37. ewc58

    Do you call 'Bernanke Shalom' breath to emphasise that he's a Jew?

    Just curious

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  38. Turd - in case my 1569.70 is the winner. I had it wrong twice. First I had 1568.70, then I tried to correct it to 1569.70, but instead put 1590.70. I did break it down to gold and silver prices though.

    That just may have to go to the judges! LOL. All good baby... off to the races. Can't wait until the media tears Bernanke a new one.

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  39. anyone see the crosshairs drawn on ben's face on bloomberg? sarah palin gaffe.
    opinions on whether it's safe to get back in the water w/ miners please.
    1568, here we come! momma needs a new sun hat!

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  40. Markus, thanks for the link to the FED statement.
    Snipper:
    "...measures of underlying inflation continue to be somewhat low..."
    -------------------------------
    Are Ben & Co. truly divorced from reality?

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  41. @tpbeta
    http://en.wikipedia.org/wiki/Ben_Bernanke

    His name is Ben Shalom Bernanke (no kidding!!!)

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  42. In July, they will announce the next phase of money printing called...

    QEFed
    pronuciation: kweeft
    definition: The sound of air expulsion from the dollar after it has been soundly f*cked.

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  43. A raid by the EE is not out of the question before benocide speak. After it, the bankster fraudsters may be overwhelmed by peoples uncommon denominator reaction to going chaotic. Seen this before as PM's shoot the moon and dollar sells off. People, not knowing what the hell benocide goon speak initially translates into. Until the fane stream media spin docs paint it up, into a pretty rain bowed, sugar coated bull shit treat, for rank'n file human consumption........ Knowing benrons natural ability for rank'n file transparency? I'd say you need some skin in the game before the benocide freak show.

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  44. Gold starting to outperform. 1521 is a very important number.

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  45. Curmudgeonly Dissembler

    I intend on writing the info in a word document and when finished do a copy and paste to the blog. Later when the other site is up I will do a repost there as you have suggested :)

    Ginger

    there are natural helps for the conditions you have mentioned and colloidal silver can be part but it is not the end all ... wheatgrass is another part but much more difficult in a SHTF scenario which we can survive without ... more later ... please be patient as all this is in my head now days and I have to write it

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  46. 46.25 broken. That felt good. I need a cigarette.
    naaaaw i'm kidding i dont smoke. Time to masturbate.

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  47. Gold pulling silver for a change! I like it!

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  48. Gold!!!! 1521, all time high and pierced the next angel step. 1650 And miner launch here we come!?!?

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  49. Gold just made new high 1521.5....woo woo..

    Silver sub cycle 6-3 started today...

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  50. Holy smokes... there Ag/AGQ go...

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  51. Oh thank god I went long this AM. Thank you Turd thank you thank you thank you.

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  52. Everybody bow their head and say a prayer the dollar just died

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  53. Yep. Not touching this with a 10-foot pole until after Uncle Benny gets done.

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  54. To quote the immortal Ralph Kramden - "To da MOON Alice, to da MOON!"

    Confirmation phrase: ieners - A Bobbit Moment? Wieners...classic. The confirm bot must be sentient. I had hot dogs (NY Style) for lunch!

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  55. Metals starting spiking as soon as Afrum's statement was released!

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  56. Both gold/silver breakin out crotch rockets to send up bendovers tail pipe. What does this mean approx 20 min before the freak show? Who knows????? My balls crystallized.

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  57. Wow, I missed it ;(
    Good for my physical. Sad...

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  58. I'm aware Bernanke's middle name is "Shalom," too, but is it really necessary to refer to him that way? Especially when we have so many perfectly insulting nicknames that don't evoke his religion?

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  59. Atlee said:

    If Afrum is having a news conference, I need to go find my bong.

    CLASSIC!

    I nearly spit out my water!

    Not quite so sure why there is continues skepticism now by some. We have the written statement.

    Does anyone really think Benny wil go rogue?

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  60. Atlee

    If you can't find it you could always do what we did back in the 60's. Take the cardboard tube from a roll of toilet paper ... make a pipe size hole 3/4" from one end ... cover hole with concaved tin foil (perforated) ... load favorite concoction ... hold hand over end with foil hole other end to mouth ... light, draw in, release hand ..... yeahhhhh !!!! ... I don't do this anymore :-)

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  61. I expect there will be some profittaking prior to the speech, but i doubt we will ever see 44+change printed again.

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  62. "David said...
    I am still sitting dry powder. I just find it hard to believe that with the margin hikes and the Bernank speech that the EE will let price rise. This is just a hunch with nothing to back it, but I think we see 1 more raid down to 44.50 before we head back on run. What do you guys think?"

    Actually I agree. But silver doesn't seem to agree right now :).

    I always average buys, so I went 2/3 in yet and still had/have 1/3 of dry powder left. Maybe what's currently happening is again a bull trap though.

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  63. BRICS is bidding up the metals to send Uncle Ben a message...

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  64. My my, looks like this takedown didn't last very long. Is this evidence that they are losing control and power over the PM's.

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  65. Thanks Guy and Thanks TF!!

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  66. if I turn my chart upside down, it would look like an EE raid.

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  67. Glad I pulled the trigger at 45.20

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  68. I think the smart money bidding gold up seeing that market conditions are not going to change. They know Bernanke will not do anything stupid and stray away from the story presented within the minutes. Thus, they know that gold will make it to the next tier of support found within the 1521-1650 range. The confirmation of this by the minutes has seen a steady increase, and think we have just entered a new paradigm in the gold market. They are going to be talking up their same old story, while letting gold and silver rise like it is no big deal.

    Conclusion:
    Melt-up in all markets.

    This is what I feel is going on.

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  69. @TYF
    It's his fricking name. "is it necessary to call obama by his middle name" winers

    Dick Butkis. "is it necessary to say dick" wine wine

    Grow up it's his name. I mean act like an Adult.

    People have names, other people call them by them by their names.

    He didn't say anything regarding religion.

    "Dick Butkus breath." can we say his name with out invoking dicks everytime?

    come on TYF

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  70. Holy tintinnabulation Batman, look at SLW ringing em up today! Not going to happen, but I'd take SLW closing higher than SLV today over 100 yellow hats. MFN making a new 52 week high would be a nice consolation though.

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  71. Phantom

    I realise that. He's a Jew. He has a Jewish middle name. It's the slightly contemptuous emphasis I was questioning.

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  72. Chin music-
    Lol.
    Anything above my 1568 call today will be donated to the medical marijuana legal fund of Oregon.

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  73. Beware head fakes. The euro is supposed to exhibit greater weakness than the dollar and it's not working even though the oil situation is worse in the EU (and especially the southern parts) and half the PIIGS are throwing in the towel. The $1.47 number was broached...and if I were in Europe, I'd be keeping my eye out for unusually colored swans... Just my $.02 - which, in my younger days, would buy me a full bottle of soda pop in Cuernavaca. ;-)

    Ol' Michael

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  74. At this rate, any pullback to the lowest it can go before the bernak speaks should be bought with conviction and depth.

    Put your money where your belief is.

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  75. Chin Music - so that's where all our toilet paper rolls have been going!

    And can we put to rest the end of QE speculation?

    Eric and Johnboatcat - thank you, thank you, thank you! That coin was going to be my last physical purchase for awhile, and I cannot believe the performance of gold. My father-in-law bought CEF too, at the bottom of that dip - so thanks to all who helped me understand those funds better.

    word ver: foxing

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  76. Uh-Oh...no POMO funny money to suppress the price today either. Looks like JPM is beginning to understand how it feels to live month-to-month like the rest of us!!

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  77. SLW up $2.20 - well, it's a start, folks.

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  78. The FED has preserved more options for itself come June, than many had anticipated. The Statement returns to the core thrust of QE2 which is that it had no hard end date, only a proposed end date in June. Market had been anticipating the FED to clarify the end date--which it did with one hand in the Statement--but also reiterated the open clause of QE2. Accordingly, FED posture towards its own policy is not as definitive as many expected. Accordingly, new information or extensions not being ruled out, the FED has left the month of June with a small question mark.

    It would appear Gold knows the answer, to that question.

    G

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  79. CookieMonster

    it was really good in brownies and favorite ... cookies :-)

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  80. I don't always buy the dips.

    But when I do, I prefer to see top callers.

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  81. Atlee...

    Regarding "bongs" and "chart upside dowwn," have you ever seen Triumph the Insult Comic Dog on Conan? Specifically, when Triumph is on Bon Jovi's tour bus with the roadies smoking a bong and talking about "what if my tail, chased me?"

    Here's the link: http://www.dailymotion.com/video/x1z09v_triumph-the-insult-comic-dog-bon-jo_animals

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  82. Stream is up!
    http://www.ustream.tv/federalreserve

    Only a splash screen so far.

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  83. On Air
    http://www.ustream.tv/federalreserve

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  84. Be careful with colloidal silver...
    http://boingboing.net/2007/12/20/another-person-turns.html
    You might turn blue like a smurf!

    Wheat grass is very good for you. If you have a Jamba Juice near you, ask for a shot of it with an orange slice. Instant energy.

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  85. finally made my first profit in options.. I went ahead and sold my June 55 positons after being down 1400 this am I sold for a 1300 profit.

    now lets see a dip :)

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  86. Because I have been doubtful and i have been making some borderline moves, and because Turd has been more accurate than me in predicting the market, I increased SLV, SLW, HL, and AUY calls yesterday and this am before and immediately after the FOMC statement. I got my AUY calls in right after the announcement was posted, but before markets responded. It has been a good morning.
    Thank you for a smile Turd,
    MHT

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  87. FOAGQ I sold 1/2 just about at that last peak. In case of pre-Ben raid or in case Ben hints opposite to FOMC (which I can see him doing..I mean hints that cause doubt)

    The rest rides to $49 or more.

    Will buy back today if it goes enough lower than I sold.

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  88. gregor - there can be no end to QE until either the US dollar becomes completely worthless, or the US reins in its debt. Unfortunately, only the first option is being pursued. Have you seen that youtube video with all the pennies on a table, and the guy has to cut up a penny to create a piece tiny enough to represent the budget cut proposed a few years ago. A few trillion dollars need to be created - and the American economy is not doing it - so they have to come from somewhere. All else is posturing. The Fed has no options.

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  89. China sending a personalized message to the head, dead fed goon. We don't want your dollars!!! BRICS now in control and dead head fed goon central bankster fraudsters garbage heaped.

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  90. Hi everyone. this is off topic, but I have need of hedging against a copper rise. Can anyone recommend a simple straightforward stock or ETF?

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  91. uh. ..Chin Music.. I was really curious and very humbly thankful to receive your upcoming comments on natural health concoctions and remedies.. ...........until I read your how-to on the bong thing and the brownies :O. ...now, not so sure I'm going to trust your 'remedies'.

    LOL.. :D :D
    Totally Just kidding. .... You've obviously grown beyond such antics ;) ...Looking forward to your c&p on whatever you want to share. ..Take your time.. no pressure and again.. THANK YOU for your efforts! :]

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  92. His lips are moving. Hence, he's lying.

    Ol' Michael

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  93. Jimmy and friends: Ag is on the move! We'll see 47 again soon.

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  94. xty - Yes I agree. Indeed, the only option the FED has now is to pretend it has options. :-)

    G

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  95. ...but even with all that practice, his voice is breaking. He's sweating badly. The more he stutters, the higher metals will move. ;-)

    We're screwed (but of course, most of us knew that...)

    Ol' Michael

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  96. LOL @ the clown. He is even grinning himself as he is speaking.

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  97. just opening my options account with Lind-Waldock family :)....on a dip what sort of silver options will you guys be buying ?

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  98. FOAGQ-

    Missed the peak (darn this working for a living!), but ready for the next one ....

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  99. S....L....W

    Silver Wheaton likee dat Bernank stank

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  100. I kept a small amount of my total left out to buy gold on a drop...oops!

    Ben has dry mouth and sounds nervous as hell!!

    He's projecting weakness, to me. About as inspiring as someone doing a lot of handwringing...and this, as he READS from a prepared statement....

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  101. stevy,
    I like SLV and have only done front month or two calls. Others here like SIVR ..and there are others that I'm sure you'll get some feedback on. GL!!

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  102. Ginger

    just to be clear ... the brownies and the cookies were not health food ... there will be no recipe forth coming :-)

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  103. Hell Ben: "commodity prices have increased due to global demand and growth".. wow and he didn't even smile after the joke, I did ;)

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  104. @Insight...

    He's not "projecting weakness," unfortunately, he's the "dollar personified."

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  105. Is it just my imagination...or did the Au and Ag charts just draw a middle finger over the past few minutes of the Chairman's speech? Guess I'm just seeing things. Sure looks like a middle finger though.

    Ol' Michael
    "...paper is paper..."

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  106. Wuppie! Bernie says we have no inflation - yippie! Mooore QE to everyone.

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  107. $46 is the new short term support. Repositining buy stops near that point for quick dips.

    Turd is right as usual. Took guts to buy these dips. Had to fire up long forgotten computer games to prevent myself checking silver quote constantly. Felt good to have some fun with Covenant Elites using a Warthog.

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  108. Did anyone see the graphic across the screen this morning after the Fed announcement...
    It read:

    "IF THE FED CAN'T SAVE US, WHO CAN?"

    I had to scrape myself off the floor!

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  109. My eyes are glazing over listening to him. All the hype for...this

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  110. That's ok Chin Music.. ..got some killer brownie recipes of my own. ...sans mind altering properties. :] :D

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  111. Bernanke in reference to lower GDP:

    "Lower Defense Spending in this quarter and we expect that to be made up in the future"

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  112. Watching SLW it appears it goes up a penny per Bernank sentance.

    Oh crap he just stopped.... YO SOMEONE GET THAT DAMN FOOL BACK UP.

    Whew, now he's "answering" the presstitutes "questions".

    Let the rise resume!

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  113. Not one fresh fluttered burst from the gasbag sir farts O lot; bendover. Central-bank policy makers also said they would end $600 billion of bond purchases as planned in June. Read more about Fed statement. http://www.marketwatch.com/story/us-stocks-start-mildly-higher-ahead-of-fed-2011-04-27?siteid=bigcharts&dist=bigcharts
    ............................................
    Brilliant! Ya gotta end qeII. Then what? We know the answer. Think I'll head up north to watch the ice melt from global warming. Maybe the Spring grass grow. Maybe paint dry. My balls crystallize! What a cluster flock!!

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  114. Wow I thought it was jitters from internet connection but that guy has one shaky voice. Either not telling the whole truth or one very very scared money manager.

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  115. he sure is a horrible speaker. Everyone must smell the fear.

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  116. Fortinbras...I stand corrected...yes, Ben is projecting the dollar, not weakness! LOL!!

    I would add that he actually is not commanding, but WIMPY...so, we have a WIMPY dollar! LOL!!!!!

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  117. ...what to do...what to do...

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  118. Toady's word is "Transitory"...


    No shit...word verification was bulle as in bullshit.

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  119. Turd,
    I'm confused. Mr. Bernanke is saying almost the exact opposite of you. Who am I supposed to believe? I think I will sell all my pm's and go to the mall with my newly freed up $.

    Thanks for the memories. Mr. Bernanke would not mislead us.

    Then I woke up. "/

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  120. The heck..? I was kinda hoping for the whole Calvin shebang, not an enormous up-spike. I've still got quite some fiat as I didn't have a chance to get all in during the last few quite busy days, which in this case means I'm losing money because the euro is gaining on the dollar, and the more it's gaining the less my dollars are worth in my own currency. I thought the whole deal was that the USD was going UP at least somewhat rather than DOWN? When is the Calvin supposed to start, or, is it going to start at all? Right now I only see my profits dwindling away in the wildfire that is the dollar.

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  121. "Strong and Stable Dollar"

    ROFLMAO

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  122. The Bernank: "The dollar fluctuates"
    The reality: The dollar plunges

    Godda love this guy.

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  123. Wow... so I guess the pre-appearances pow-wows between Geithner and Bernanke was "Anything they ask me, I'll say that's in your court to answer/control and you do the same for me."

    As I said earlier today... "These are not the droids you're looking for."

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  124. Listening to him talk about the dollar being strong almost made me scream at my computer.

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  125. ...no kidding...for fans of Steve McQueen...the word verification was "Bullit"

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  126. OH, Steve Liesman of CNBC is asking about the decline of the dollar and how Fed policy has affected it...

    Ben is spouting the "strong and stable dollar" mantra....many factors make it go up and down over time
    Over the intermediate term we're doing things, like working to keep inflation low and
    working toward maximum employment.

    Price stability and strong employment....2 objectives....

    Liesman said "it's been unsuccessful so far"...they were grabbing the mike from him, but he got the comment in...

    Ben..."high standing of the dollar" in the world is testament to where it is in spite of all the crap going on...

    I'm so relieved that he repeated the strong and stable dollar mantra....it really sounds silly and the sillier he sounds, I think the better it is for us in the metals!

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  127. Bernank seems to be on a first name basis with the reporters, can someone say COLLUSION!

    Thanks John, Thanks Steve for telegraphing these questions days in advance.

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  128. "Gas is a necessity" says the wise one.

    "High gas prices are bad" he also says.

    He is a genius

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  129. Raul - I love those kinds of statements. They sound like they make sense as you hear them, and then it slowly sinks in that it is basically meaningless. I mean 'growth'? Where did he pull that from?

    gregor - indeed, and you made me laugh.

    Chin Music - I think there may be a number of us here with interesting problems, hence at the computer a bit more than others. That would be me, and the irregular hours too, when one might happen to be awake way too much. Looking forward to your continuing sharing - the new website will be a godsend - there are so many people here who have expertise in so many areas it is astounding.

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  130. "The Fed can't create more oil"

    A genius and a comedian

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  131. whoa. did he just say the middle east caused higher gas prices and is the only reason for inflation?
    cart pulling horse...
    his voice has been shaking this whole time...maybe they need to hire a former fox anchor for these conferences...lol.

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  132. Nothing to see here folks!
    Just bought 20 SLV June 43 contracts for 4.50.

    I'm betting on Turd that it will go up starting tomorrow...should have bought it in the morning rather than hendging for the Joker's conference

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  133. WTF?! He doesn't want gas prices to spread into other prices so that inflation rises. HE IS OUT OF HIS MIND!!!! High prices are EVERYWHERE. Please, mr. Bernank, show me something that hasn't gone up in price. I want to see it!

    Who believes this shit? Seriously? Shame on the media, shame on them for supressing and underrating the intelligence level of the common man and woman.

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  134. Of course, I'm biased, but every single thing I've heard so far is super bullish for gold and silver.

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  135. Ginger - no mind altering properties - do you make them without chocolate?

    Is anybody still awake who is watching this drivel?

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  136. “The Fed can’t create more oil…”
    Ben Bernanke, April 27, 2011 at the FOMC Press Briefing

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  137. Wait...he ACTUALLY seems to be growing more confident with each passing question. Although still in defensive pose, he is seems more forward hunched and alert and voice quivering less.

    Interesting and macabre.

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  138. Ironically, Shalom, means Peace. Hence the usage when used in conjunction with Ben Destroyer of Worlds Bernanke.

    That's both the only explanation needed, and the last one anybody should expect.

    On the other hand, if anyone here needs to see a list of the names of America's 100 Worst Financial Terrorists, I'll be happy to post one.

    I keep looking for an Islamic name on it because I've been told they're such a grave threat to Our Freedoms. Oddly though, I can't find even ONE Islamic name on it.

    Thus I'm very puzzled.

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  139. Oh, and I forgot - afrums' balls have crystalized! Head for the hills, that has got to be the warning sign we have been waiting for.

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  140. Inflation... due to higher gas and commodity prices.

    Gas prices will not grow at the same pace and may even go down if the mideast turmoil ceases.

    Inflation expectations medium term haven't moved very much. Inflation managed at the "mandated" level.

    Amazing logic from Quiverin' Ben. And who's mandate is that?

    And the media just nods...

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  141. Shorts have to cover here...at a loss of course.

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  142. @ ef3b83be......
    FCX is a Smart Copper Play

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  143. If I was a US president I would solve the problem in 3 easy steps within one calender year LOL

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  144. Buy gold and silver....ben said his dollars are transitory.

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  145. Uemployment....."digging ourselves out of a deep hole"

    No mention of the other huge hole that we're still digging into (debt)

    British reporter asking if the Fed can do anything to dissuade the public from "incorrectly" assuming inflation will take off"?

    Ben: public is still confident....what can we do? Communicate our policy and our objectives...
    If inflation continues, then we have to respond...at the same time we have to keep growing employment, etc. etc.

    Next question, from me....RESPOND, how??

    Oh, here's the question on the effect of the end of QE ...

    No tapering, will just end it....UNLIKELY to have significant effects on markets and the economy because "we hope we've telegraphed today" this step and it's well-anticipated in the market...already capitalized in the market...

    What matters is not the pace of purchase, but the size of the portfolio we hold...
    remain constant ..WILL CONTINUE TO REINVEST.....etc...
    Amount of ease should remain constant going forward from June.

    At some point at start of exit process...early step, stop reinvesting all or part of the maturing securities...that step constitutes a tightening. Have to make that decision based on outlook of how sustainable economy is and outlook on inflation.

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  146. Dang. I thought Calvin POSX bounce would be into 74.2 range. It stopped at 74. Probing new lows. Here comes 73.5. Crude barely budged. Where is Goldman Sachs when you need a few good goons?!

    We're near POSX uncharted territory, look to crude and other commodities for clues.

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  147. "We hope that we have...telegraphed everything we intended to do..." Yep, it's all priced in except the total collapse. Nothing to see here Benny, and yes you can keep your job. No raise though. Damn, what do these fools take us for? I wish they'd show the American public a bit more respect. But perhaps that's what we deserve. :-(

    Ol' Michael

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  148. What a freaking joke this guy is. The only way we are getting a dip on this is if the EE conducts a raid at the conclusion of his chat

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  149. Fortinbras - you will like this video.
    http://youtu.be/Cizlx6ODhuE
    yup, that's how i knew yesterday there would be no policy change and bought in. geithner was setting ben up to defer to him on the dollar, and avoid having to talk too much in that shaky voice. Notice how he CHUCKLED when he said he'd defer to geithner. 'HA HA, I'M SOO SMART. YOU SILLY PRESS PEOPLE PLAYED RIGHT INTO THAT ONE. HE SHOOTS. HE SCORES!"

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  150. Eric #1 - well the beautiful Mexican 50 peso coin I fell for is already $16 more expensive. But there is no inflation, and I think the rise in price is probably the fault of Mexican miners, but I will consult the Bernanke about it.

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  151. ef3b8

    I agree, FCX is the poster child of copper stocks. With a nice gold kicker to boot!

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  152. JoeKa said...

    Wait...he ACTUALLY seems to be growing more confident with each passing question. Although still in defensive pose, he is seems more forward hunched and alert and voice quivering less.

    Interesting and macabre.

    JoeKa...he's in his comfort zone as he gets to the memorized mantra...he's in a trance!

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  153. The Fed cannot create more oil--hot air and natural gas are different matter...

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  154. You guys are too hard on big ben.

    He is doing pretty well by his standards imho. Content blows but I think we all know that words mean nothing when they are interpreted by CNBS losers and the like. His flow is good (for him) and he looks decent. Probably got a ton of prep for this.

    I think he's doing well.

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  155. Hey guys, Bernank says unemployment is only 9%!!

    I almost feel....employed!

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  156. @ fort
    Thanks for the Conan vid. That is some funny stuff. I will finsih watching it after the clown show.
    Thanks again

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  157. Price of oil? Bernake said "supply & demand mantra" and from here moves quickly on, giving little time to analyze his assumption that the problem is supply. A classic modern propaganda technique--to force the major premise on you and not entertain questions about US reserves of oil.

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  158. Hey did Bernak actually said subtly that QE will NOT end in response to the question on the dual mandate of economic and controlling inflation.

    That in response to controlling inflation any policy shift to contain must bear in mind the impact on employment and growth potential.

    So this is all one self-fulfilling prophecy??
    Am I reading this wrong ?!

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  159. Oh, question about lack of effect. and how can you stop QE..

    BEN: Success!!! stock market up, reduced volatility, spreads, etc. like a normal easing policy.
    Just like past history, working like it should with easing.

    Upgraded forecasts, higher payroll data...etc.

    Conclusion ...2nd round wasn't effective...only valid if seen as a panacea to solve unemployment overnight. We were clear that it wasn't a panacea, that it would only turn economy in the right direction.

    Relative to what we expected, it's been successful..
    Why not do more
    TRADEOFFS LESS ATTRACTIVE at this point...Inflation is higher, must keep inflation under control.....

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  160. Snifff...only participating via core holdings in SLW and AXU at this point...just too much gyration pour moi...

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  161. " Cough " Um Ben I have a question.

    What softener should I use with my Whites? And if I use Clorox bleach on my dark's will they run?..

    Thank you.

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  162. The Fed can't create more oil - Ben Bernake
    The Fed can create grease for the slippery slope the POSX rides on. - Falcon15

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  163. If inflation expectations appear "unanchored", we'll have to respond to that.


    Unanchored....hasn't the anchor been pulled in and the ship sailed??

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  164. well, if i'm gonna lose this pick the price game... i want to lose big!!! keep it going!

    anyway, maybe the winner can save TF the shipping charges and accept his/her award at the first annual backyard tfmetalsreport barbecue and extravaganza!

    the missus won't mind, will she turd?

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  165. ricky-
    i had him as a professor. much more confident when he's not LYING.
    he's PISSING his PANTS because he is feeding the banks and starving the people. he knows they are TBTF. he knows what a shitstorm we've created for ourselves. he knows he's full of shit, and i'm sure it's KILLING him to be the stupid one, not the smart one this time.

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  166. it seems he is having the opposite of his intended effect, silver is rocketing

    "anyone who reads the newspapers knows the us has a very serious long term fiscal problem" hahaha

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  167. Silver to head straight to $50 +. The deal is done. The opportunity for a massive beat down has come and gone.

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  168. This is great ... the more Ben talks the higher PM's and stocks go ... keep talking dude !!!

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  169. FOAGQ-

    Lucky me, just sold a third at 349.... waiting for the dip to reload...

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  170. Wow Ben
    this press conference was a bad idea. You just made everything worse. POSX down PM up oil up.
    Brilliant move.

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  171. He didn't have any issues taking a stab at the Obama administration for not taking the dificit seriously....Fed adding to the balance sheet is perfectly fine though

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  172. ewc58 said...

    Hey guys, Bernank says unemployment is only 9%!!

    ***

    Ah, heard him say it was 8.8% early on,....isn't that a lot BETTER?? LOL!


    OH, AAA credit rating question...

    Ben...nothing new...incentive for the gang in D.C. to address the problem.
    Fiscal deficit not sustainable over longer term. Gory details follow....ending in standard of living.
    Encouraged by talk in Washington.

    To extent S & P "goads discussion" that's "constructive."

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  173. Xty: "there are so many people here who have expertise in so many areas it is astounding."

    You bet. This is truly the new type of community. Nations without borders. "Phyle", Doug Casey calls it.
    Thanks for letting this happen Mr. Turd (cracks me up saying "Mr. Turd").

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  174. What the F! is this?

    http://silver.bullionvault.com/audit/withdrawal_note.html

    Withdrawal declaration

    For the protection of all BullionVault users removals of gold from the ownership of BullionVault Clients are required to be publicly declared at least 24 hours before they occur.

    Withdrawal instructions are given by BullionVault. Checks are performed by the vault operator - Via Mat. Checks include confirming that the advertised holder has sufficient gold on the Daily Audit, and confirmation that withdrawals are limited to 5% of the vault total on any one day.

    Gold is withdrawn intra-vault on the date for action, for later shipment. Shipment dates and details are not disclosed.

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  175. A lot of our moribund miners are getting a rocket ride today! Seems the curse has been lifted.

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  176. Looks like a lot of dry powder was on the sidelines waiting for this Presser. That money is now jumping in imho...

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  177. Oops, shoulda waited.... oh well, my laddering method should see me booking profits all the way up....

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  178. Wow, ya wanna bet the idea of the post-meeting Bernank presser is "amended" pretty quickly???

    What a disaster. No wonder cockroaches operate best in darkness. They really suck out in the light.

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  179. 2 1/2 bucks in 2 1/1 hours almost. That's a buck an hour. The Fed has spoken.

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  180. Thank you Ben! Love the rocketing PMs. Got in my first options play today and it's already up over 100%! Just wish I put more money into it, but not complaining at all.

    Hope he keeps talking for a while..

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  181. the more i hear this the more i feel that physical is the fruit and evarything else is bullshit,its not even the orchard!
    physical only, buried, not stored, cuz were already done, people just dont know yet, i asked my accountant what he thought about qe2, hr said whats that? hes fired.

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  182. The volume on Silver for the day so far looks lower than expected...anybody else seeing what I'm seeing on July /SI?

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  183. Keep talking Ben!!!

    Making a mint today!!!

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  184. Did I really just say we'd see 47 again very soon???

    Uhhh, can I switch that to 48?

    Just keep it coming Ben! Please!

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  185. Ben's transparency is good...

    ...for PM

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  186. Changes in interest rates, changes in stock prices...
    Changes in latitudes, changes in attitudes, nothing remains quite the same, through all of his cunning and all of his running, it looks like Ben just lost his game. Ben just laughs because he is insane.

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  187. Hmm... Action after the Bernank spoke indicates that either:

    a) He, and the cartel, failed utterly, or

    b) This is what they intended, which begs

    c) Why would they let this happen, at this particular moment?

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