Thursday, June 2, 2011

What I Think

Please keep in mind and never forget that The Turd is just a regular guy. I'm not some former working Wall Street stiff with an agenda. I'm not a paid agent of disinformation. I'm not trying to sell a newsletter or anything else for that matter. I'm just a dope with a MacBook. I have a few very strong beliefs about the future of the American and world economies and I seem to have an ability to forecast price movements in gold and silver.

Longtime turdite, TurdleGG, wrote me in the very early days of this blog. His advice was: "If you're going to do this, don't hold back. The world is full of obfuscating investment analysts and it doesn't need another one. Give it to us straight. Tell us what you think. It is up to us, the readers, to decide its merit." With that terrific advice in tow, we set out on this journey. Perhaps because of the honesty, this site has grown exponentially. The just-completed month of May (our sixth full month in existence) saw the site attract 2,066,434 pageviews, placing it easily within the top 10 busiest precious metals websites in the world. In light of this, it would be quite simple now to go back on my pledge to Turdle but I won't. I will continue to make predictions such as "Turd's Bottom" and "Turd's #2" because it's what I believe. Not what I know, no one can know the future, but what I believe to be true. Take or leave it. Do your own research and draw your own conclusions. Do not ever rely simply upon this blog and my opinions. Ask Mrs F and she'll tell you that I'm more likely to be wrong than right.

With that said, here is what I have come to believe: The Comex is broken and failing. The evidence is circumstantial and I can't prove anything to you. However, after fully considering facts (Scotia et al) and contemplating the recent market action and the increasingly heavy hand of C/C/C manipulation, my experience tells me that the end is drawing near for the Comex as a reliable price discovery and metals delivery vehicle. Very near. Maybe not in July but, with each subsequent "delivery" month, the likelihood of Comex default will increase.

As a precious metals investor, this seminal event has major implications for you. First and foremost, we are about to discover whether a Comex failure will be bullish or bearish for paper silver contracts. This will no longer be an academic exercise. We will see this play out in real time. I fully expect the price gap between paper and physical to widen significantly. Investors will finally take notice that paper silver is indeed just that, and, in the end, there will be a mass awakening to the true availability of physical silver. At once, it will dawn upon the investment community that the amount of silver available for investment and insurance purposes is much, much less than previously thought. Your paper futures contract or your paper ETF shares will be worth less or worthless while your physical coins and bars will skyrocket in price.

Additionally, I'm spending a lot of time contemplating how these events will effect my forecasted "roadmap" for the rest of this year. As you know, my method of prediction relies heavily upon unchanging fundamentals and repeating cycles. A collapsing Comex certainly alters the fundamentals and, since its never happened before, there are no cycles that can repeat. For now, I still expect $42-44 silver before the end of this month. From there, we'll have to wait and see how the July delivery process plays out.

In conclusion, we are very near the point where you need to begin moving out of all paper and synthetic silver. The common shares of miners, particularly those with unhedged books, will do extremely well. Your physical stack of ASEs, Maples and bars will rapidly appreciate in value. However, paper and synthetic silver will be seen as dubious, perhaps even fraudulent, investments. At the end, you do not want to be the "greatest fool".

One of the more bizarre parts of this whole experience has been my sudden ability to correspond with very well respected individuals within the precious metals community. I've learned and confirmed a lot so, in the coming days, we'll discuss the timing of the Comex collapse as well as other "big picture" revelations I've had. The world is going to be changing rapidly over the next 24 months and those who prepare will survive and even flourish. Those with buried heads are in for some very big surprises.

213 comments:

  1. This comment has been removed by the author.

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  2. Thanks Turd. your open honest opinion is always appreciated.

    I need to make some fiat so I can buy physical, I'm trying to do this by playing the paper market!

    Means to an end..

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  3. thanks Turd. I've been away a while, but good to see you still in form. I totally agree - a world of opportunity awaits!

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  4. Turd, any thoughts on SLV vs PSLV(et al) in a default scenario?

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  5. Gettin heavy on us today Turd......hehehhe......cannot disagree with your dire forecasts......because you are correct. Yes everything you say will transpire. Only the timing is the issue. My guess is and its only a guess is that the "true power" will prop this ponzi awhile longer. They cannot have the fraud exposed so soon during their CONfidence "recovery".....but we'll see.

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  6. We're all very fortunate to have your blog to read, Turd.

    Since discovering your blog I've been motivated to do a lot of reading. One thing that I've come across that is rarely touched on by PM writers is the issue of the real significance of the COMEX vs the LBMA. In essence, that the metal stocks in the COMEX are less relevant than people believe. My strong impression from what I've read is that what goes on at the COMEX is largely for the purpose of manipulating prices and perspectives. If this is true, it certainly puts a different spin on your (any many others') concerns about COMEX default. I would be very interested in your thoughts on this topic.

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  7. 2 things:

    1- anyone know a good site that breaks down the hedged (and hedge price) versus unhedged miners? or a newsletter that does so?

    2- is it possible that comex silver is being brought down intentionally so that the silver can be sent to SLV as jp monkeys probably make more money off of the SLV ETF than from comex?

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  8. Straight shootin' as always, Turd.

    Please let us know which (if any) miners you are favoring.

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  9. I stopped counting my silver and gold in ounces. I now count it in trips I have to make to move it from one place to another by hand.

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  10. I want to add to/summarize my original post that some of what I've read strongly indicates that the COMEX merely functions as a window through which the big players show all of us what they want us to see, which is not necessarily the real picture.

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  11. How would one define synthetic silver? Does that include numismatic silver? I've been stacking numismatic silver with the idea of having "grocery money" in mind.

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  12. Untill now, I've been changing my small paper-profits into physicgold I plan to and keep on doing so. Thank you for your eye on the market and keep on going!

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  13. sp, re: 2, I think that's possible. Likely, even... I also think it's possible that JPM is the fedgov's financial black ops division, that they know how this fiat game will end and are accumulating physical on behalf of said fedgov in preparation for a return to some sort of gold standard.

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  14. Turd writes:

    "The common shares of miners, particularly those with unhedged books, will do extremely well."

    This has been a bugaboo of mine for a long time. How in god's name do you determine if a miner is truly unhedged? I don't believe it's as simple as it sounds. It has to do with a miner's financing: have they cut deals for hedged silver to their lenders? Have they cut deals with SLW for future silver sales? A miner can say they are unhedged and still be hedged deep in their books courtesy of their bankers.

    It might be helpful for folks to make a list of the unhedged miners (and the heged as well).

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  15. Turd,
    Thanks for being so honest and real.
    The voice of reason and a wider/truer perspective in the midst of all the fraud and manipulation.
    God bless you and your family!

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  16. Great point on changing to Physical.

    I am exchanging more blocks of paper for physical every day starting yesterday. My strategy is to buy physical in the morning at a low price and sell paper if higher price in the evening or the next day. The price delta is being used to keep premiums low. I am buying low premium bars as I am heavy in ASE, maples, and philis.

    If the comex blows up, I think large industrial bars will come with a large premium once industrial silver is harder to procure.

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  17. Turd,

    Martin Armstrong 13 Jun 11 is a ECM cycle date.

    I believe that some significant event will happen or coincide with this day. It could be the day people start to change their perception of things. The massive human emotions and psyche shift will occur around this date.

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  18. @Turd
    It would appear that you and I (per my comments at near the end of the last thread) are on the same page overall.

    Another pertinent question might be - if there is a COMEX default/loss of faith in one "money" commodity, will that spill over to a rush to the exits in the other (e.g. gold)? My guess would be yes.

    Also the COMEX vs. LBMA inventory and purpose question is very interesting to me. I look forward to your response to that as well.

    @everyone
    Turd is giving you a semi-veiled message. He's saying that you need to be very careful and start organizing your transition plan. Paper loss potential should be limited if you choose to continue gambling. Otherwise, if you lack self-control or don't understand how to deal with margin/leverage, just get out now. You'll probably lose more than you win and then double-kick yourself in the nads when you realize that physical was where it was at all along and now you can't even afford a 10 oz bar because it's $10k. Walking a tightrope is always high risk, doing so w/o a net over a 1000 ft drop is suicide.

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  19. Damn - great stuff, Turd. Thank you very much for your work and congrats on playing with the big boys. That has to be fun.

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  20. JFrancis,

    You're correct that the comex makes up a quite small percentage of the silver market. And that alone the would make one think that even if comex defaults, it wouldn't have too much of an effect on price. However, what a comex default would IMPLY....could be huge for silver prices.

    That is, it would bring to light that the paper market in general...and etfs like SLV, etc....and all paper metal investments worldwide could possibly be dubious of fradulent. So, a comex default may cause an 'ah ha' moment in investors that says "well if comex has been dishonest about their holdings....all these other paper metal vehicles could be too.....so, I'm fleeing to physical." a domino effect if you will.

    Thoughts?
    Rob

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  21. Everyone who is in the paper game and on this blog knows it for what it is. If you are now just discovering that the odds are in the house's favor, you need to cash out.

    GLTA and please realize that this criminal activity is not over by a long shot. When the comex goes, then the ramifications for the entire economic system are dire.

    @Turd

    I am still interested in where you see support and resistance levels. If your thoughts have not changed, then it is not necessary to respond. Thanks man.

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  22. I read this blog everyday. It's great. Thank you. I am not an investor (of any experience), but I have been buying in and out of AGQ, SLV and PSLV (and on occasion ZSL). I do not understand options well enough to trade. My question regarding the paper silver market has to do with PSLV. Do you consider PSLV to be a 'physical' holding, or a paper holding?

    How do you think it will hold up after paper and physical diverge?

    I welcome answers from anyone.

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  23. @upto

    i think u mean the govt is a black ops division of jpm...remember govt is only the circus in front of us with 0 power or $

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  24. posted this in the last thread. feels worth a repost...

    ----
    silver still struggling to regain any foothold. battle's afoot to hold 37.15ish. should be telling how it plays out...

    on the bright side:

    1) it took a string of raids in a 24hr period to drive silver below the first major resistance on the daily, short of margin hikes it feels like they've blown their wad.

    2) I'd guess many, if not most, stops got triggered on the trip to 36.4. Short of more extreme measures that's reassuring.

    3) Just noticed this as I was typing. Not totally sure, but it looks like this dip played out almost exactly like May 11, albeit with a compressed range.

    a) both 4 periods on the 8hr, 2 on daily from top to bottom.
    b) on the daily, both met the EMA(50), crashed thru the next two lower EMA's (I'm using 12, 18, 50, 150, 200) before bottoming.

    Based on that I'd guess we've seen the worst of it. Hope is more like it, more raids and there goes my theory. But if things continue to follow the patters of the 11th/12, looks like the 31st/1st are playing out exactly the same...

    ---
    looks like the EE's launched a fresh attack. 36.6 and then 36.4 NEED to hold here for this to pan out.

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  25. We all appreciate your honesty, Turd.

    I've been following this game since last summer and I don't know how many times I've seen "COMEX default imminent." How many times can someone cry wolf?

    In the end, like it has been predicted all along, the stackers will come out on top because they're the COMEX of the future. The kleptocrats have been exposed 1000x's over and they obviously have no shame and answer to no one, so fuck'em.

    In 5-10 years I think we'll all look back and laugh how we used to sweat the week-week, day-day, min-min movement by the Cartel. I know I get a good laugh at members on this board that come here day in and day out and get all excited about $1 movements. It means nothing in the grand scheme of things, but it's incredibly addictive.

    As you say, Turd...it's a great experiment. No self-respecting scientist tries to get in the way of an experimental outcome. Your best move is to let it run it's course and stick to protocol.

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  26. @uptofreedom

    I'm also curious. Turd, does your warning also apply Mr Sprott's silver ETF?

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  27. From average Joe (more or less all of us), it's good to look at it like this:

    get your physical metal before bullion dealers/shops/sellers wake up and realize they're selling something which is worth several times more.

    I think only PMs/commodities have this unique property: you can always buy at "top", and mid to long term you'll always be all right!

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  28. Comex defaulted on their nickel deliveries back in 2006. I'm sure there is a lesson to be learned from that. I'd appriciate if someone else did some research to see if they came to the same conclution. From what i can tell the price of spot rose. quite a lot.

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  29. Curious, would silver COMEX default spin into the gold side of their house?

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  30. Hey, I'm flattered to see the Turd has been reading some tmosley, or at least, has come to the exact same conclusion independently.

    A new phase started with that attack that early May morning. This is the middle of the end. I previously gave the likelihood of a COMEX failure as 50% in July, with 20% of the probability of non failure shaved off each delivery month after that (ie 60% in September, 68% in November, etc). I think I have to stick by that. Though it looks extremely bleak now, there is a good sized opportunity that the CME will pull SOMETHING to save their butts for a few more months, but as time goes on, these games will eventually force the trading to go elsewhere, and leave the COMEX an empty husk. There is a possibility that the fraud could simply follow the trading to its new home, likely the HKMEx. That is the only alternative that I can see to a paper-physical divergence and extreme appreciation of physical silver.

    Also, glad I finally figured out how to post here.

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  31. Anybody get any CDE around 26? I did. 26.05.

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  32. Your honesty and candor are greatly appreciated TURD.

    Swifty

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  33. @Rob: Thanks for your perspective. Your point about the public's perception following a COMEX default makes perfect sense. I guess where I get tripped up is that if the COMEX is indeed mostly a MOPE tool as a few claim, why allow it to default and risk destroying a hugely lucrative paper market? There must be more to the story if this is the case.

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  34. I always knew why those Scottsdale Stackers looked so good....physical stacking will be the backbone of our success.

    That being said, I have lightened silver futures in 2010 and went heavier Gold with only a few silvers. This year will be the prep of even less paper.

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  35. Turd,
    Thanks for your honesty and humility.
    I never played the paper PM game but still hold physical thru a GM account. It's because of reading your blog that I've had the guts to hold onto it after seeing it run way up and now down below my buy-in price.
    I hope your readers get out of the 'game' and buy the real thing before it's too late.

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  36. I've lurked a long time in the blog since its very inception, in fact my claim to fame would be the terms and conditions you read at the bottom of the blog, which I advised Turd to use when he first set up. I'm a trader by living, PM's and Fx mostly and I can honestly say 95% of the people and advice on the Internet will lose you money (which you should not have at risk if you need it) and more importantly your time. I consider my time to be priceless yet I still find time to read this blog, this is a rare thing we have here and I'm glad to have it and often recommend people who are (more and more..) showing an interest in PM's. Thanks Turd, look forward to more of the same.

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  38. Anybody that is looking at unacceptable loss on paper silver under 36 may want to revisit the concept of the stop/loss. The 1hr and 4hr charts are very ugly down near resistance 36.50. There's a lot of empty space underneath and no particular reason to think any BOS will step forward and bail you out until 34/35.

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  39. @tpbeta, @mcmoo

    I don't want to speak for Turd (or anyone else), but "physical silver" means ACTUAL PIECES OF METAL THAT YOU ARE HOLDING IN YOUR ACTUAL HANDS. Anything other than that is "paper." If you can't actually hold it in your own hands, it's not "physical."

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  41. @TMosely: Enjoy your posts at Zerohedge. Would it be beneficial somehow for these games to be moved to the HKMEx? Maybe this is going to be a "strategic" default with that end in mind.

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  42. @Pailin, how confident are you in gold 1534/1535 as a day trade bottom?

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  43. Corn popping on the open to 7.65 See how it goes.

    WTI numbers soon. Added vol there, but I'm already long and wrong. Bad economic data bad for WTI, but after tomorrow's data, don't think too many want to be short over the weekend.

    GLTA

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  44. Just checking... you CEF and PSLV physical don't you? Vrs SLV and AGQ paper...

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  45. @ Jimmy

    here's some info

    Came across this article from August 2006.

    http://news.silverseek.com/TedButler/1156198042.php

    http://www.kitcometals.com/charts/nickel_historical_large.html#5years

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  46. I had no idea, Jimmy! Thanks for that! Great reference. Just slipped it in there and didn't call it a default, of course.

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  47. @NCOT - looks like it held. phew!

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  48. Thanks Turd. Decided to hold tight till end of June. I'm not really risking much. Just bought some more on that crazy 1 minute dip. My only wish was that I found this blog earlier. There's a good group of peeps here.

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  49. @SSK

    No, but I did get some NGD at 10.

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  50. @Alexander

    I know what physical is. The question, if I may rephrase it, is - in the event of a Comex default, will Mr Sprott's 'physical' ETF be hit in the same way as SLV, or will it prosper?

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  51. You go, Turd! Thanks for the hopeful forecast on the miners :)

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  52. heard something about a new COMEX in CHINA or somewhere is this true and what does it mean

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  53. We are not worthy Turd..Cheers

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  54. @tpbeta:

    "I know what physical is. The question, if I may rephrase it, is - in the event of a Comex default, will Mr Sprott's 'physical' ETF be hit in the same way as SLV, or will it prosper?"

    ALL paper will become suddenly suspect. PLUS... ETFs can be shorted... and if you're a "market maker" =COUGH=JPM=COUGH=, you can short naked. That's the effect of creating majical shares and selling them, diluting the shares and creating inconsistencies in the price. Paper == paper. COMEX or SLV.

    You cannot short the metal in your hand, unless you lend it to someone for them to "short" it.

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  55. DE - what corn price are you looking at? My September Corn is at 7.36

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  56. @Jim
    re: gold 34/35
    Not enough to buy it. I just passed on it a few minutes ago. I've got an order in for 1530, and am sitting on 1539 already. Very small positions, just gambling, I could weather them down to gold 1000 before I'd even think "that sucks", and I wouldn't because I'd be too busy buying eagles and gold 50 pesos in there, no time to fret over paper :)

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  57. I like to pull back to the weekly closes chart to keep perspective. Gold especially. Look at those trendlines and contemplate where your physical values are headed.

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  58. @Turd

    Not to contradict anything you are saying. I just wanted to give an analogy of how I think things might play out.

    Tube of toothpaste. That is how the USA/Economy will be and how people will react. What happens when you get to the end of the tube, you squeeze for just a little bit more, then just when you think it is all gone, you squeeze harder and get just-a-little-bit-more. THEN you squeeze even harder and HARDER. Then you shove your brush bristles into the opening of the tube. THEN you cut the tube open get what is left. Then you brush with mouthwash a couple of times. Then and only then do you admit that you are out of toothpaste.

    That my friends is how the collapse of the economy will go, so I suggest you buy toothpaste!

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  59. @Pailin, feel the same. No clear up trend, lots of down-side pressure. Dust needs to settle. Thx.

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  60. @JFrancis: Honestly, I have no idea. The HKMEx is a completely unknown quantity at this point. It's really up the the Chinese government, whether they want to perpetuate Western fraud, or if they want to expose it and expand the purchasing power of the metals they have already stockpiled. It probably depends on the bullion banks. If they pull out of the COMEX and leave the CME to take the fall, and they continue to supply bullion to the Chinese at reduced prices, they might go along with it. However, the confusion following a COMEX default would probably lead to heightened scrutiny of paper exchanges everywhere, especially HK.

    How's that for a non-answer?

    The reason I bring up this possibility is because until now I haven't been able to think of a situation in which holders of physical silver might lose. This seems to be the closest thing to a loss that we could experience, as they could theoretically perpetuate the fraud on a new exchange.

    But of course, if the bullion banks have no silver ANYWHERE, then that scenario is out the window (or rather, it won't last for more than a couple of months at most).

    Of course, if China wants to stand up and reveal the fraud in the West in order to encourage a powershift back to the East, then they will force anyone operating on their exchange to uphold the highest standards. If the bullion banks moved there under such circumstances, it would in fact be all the better for us.

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  61. July Corn High of 767-3/4 today after the morning break

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  62. Looks like one of those walk-it-down days. Just enough jumps up to sucker you in.

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  63. @ Devise

    Same here, i'm getting the feeling that i found this blog a little too late and the end of the dollar is finally creeping up on us. I've got a stash of physical, but it would have been great to have accumilated more by playing the market a little first.

    Hopefully there's a little time left to make some dough before that happens.

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  64. @uptofreedom

    they're going to keep attacking it, and I have a bad feeling they'll break it.

    I respect Pailins' opinion too, hope it doesnt play out.. may off load at the next spike if there is one (and there usually is- just to give false hope!)

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  65. @ Evil

    Standard operating procedure for a monkey with an algo. What else is new? Geez, I hadn't realized the economy was bad and the dollar is close to crashing.

    Please take the price of gold lower so us little people can stack more.

    Hedge fund mgrs and trading desk monkeys have all turned into used car salesmen in expensive suits.

    Please stick around so we can all get a chuckle now and again with your tenacious grasp of the obvious.

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  66. NCOT - yep, the attacks will continue. should have sais "is holding", not "it held"... still holding, just very, very dicey.

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  67. Thank you, Turd. You are both honest and wise.

    For now, I will continue to trade SLV options (calls) with your near term target in mind. I had already made the decision to cease trading SLV options at the end of this month. You have helped me confirm that thinking. I had also pretty much come to the conclusion that one of the places the money will head to when paper silver trading goes kaput is the mining shares. My intention is to follow, or maybe get ahead of, the money.

    Other possibilities are other commodities and commodity related stocks. Some ideas, not necessarily suggestions, but ones I will be considering both as share purchases to buy and hold and for options trading: (ETF's) DBO, DBA, MOO, HAP, FXF, RYJUX, (stocks) GPL, EXK, SVM, TRE, LNG, WPRT.

    We knew, thanks to Turd and other observer/commentators, that the paper silver market's days were numbered. Nothing that is happeneing now that Turd has not been predicting. Think about your strategy. Make a plan and execute it. My plan still rests PARTLY on options trading. I like it and I'm sticking with it. However, the objective is and always has been to accumulate physical metal. Silver if I can get it, gold if I can't.

    My game plan is still the same: FIAT -> MORE FIAT -> METAL -> LAND & INCOME PRODUCING ASSETS.

    I hope this may help others who are still working out their strategy. I welcome comments and advice from my fellow Turdites on anything I just said.

    Thanks, again, Turd!

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  68. I'm feeling there's going to be some big time raiding today. PMs not showing any strength in face of weak dollar. Equities could get pulled down and PM's smashed to follow the deflation scare script. TPTB needs to extract a lot more blood before they get the green light on QE3.

    Bad economic news is the backdrop to this theatrical event.

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  69. Good post, Turd.

    This is the toughest business in the world...no doubt about it. One minute you're a hero, the next a zero. At the end of day, no one really knows what to expect, so you have to expect the unexpected at all times. IMHO, betting on an all out Comex default is dangerous as it is clearly TBTF. Everyone that tried to short the banks into oblivion in recent years ended up getting their a$$es handed to them on a "paper" platter.

    BTW, oil inventory #'s out. This won't help.

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  70. Hi Evil- thanks for your info and I appreciate that it was more detailed and less cryptic.

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  71. @Tmosely: "However, the confusion following a COMEX default would probably lead to heightened scrutiny of paper exchanges everywhere, especially HK"

    That's a great answer. Physical holders can't lose because you can't manipulate what I have in my safe. I tend to agree with the notion that paper prices are inevitably diverging from perceived value of physical, default or not. That's a win for physical.

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  72. If I had the time, I would look into this. I never understood why Rahm Emmanuel suddenly wanted to be Mayor of Chicago. It never passed the smell test.

    "Rahm Emanuel is drawing heavy support in his mayoral bid from this city's trading and exchange community, with big donations from the financial sector helping to swell his campaign war chest to $11.8 million.

    Exchange operators CME Group Inc. and CBOE Holdings Inc. are major backers of Mr. Emanuel's bid...The CME appointed Mr. Emanuel to its board of directors in May 1998. The Chicago Board Options Exchange, now known as CBOE Holdings, was one of Mr. Emanuel's first clients after he joined investment bank Wasserstein & Co. in 1999. There he helped the oldest U.S. stock-options exchange work through thorny ownership issues tied to its spin-off from the Chicago Board of Trade." http://online.wsj.com/article/SB10001424052748704115404576096190325655786.html

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  73. Following up on my previous post.

    If you aren't using the raids to add to your physical metal stash, you have a lot to learn.

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  74. Bad call on the corn yesterday, never got a dip to buy. I hate to chase a market though. Looking for a spike up to 7.80 and may take partial profits.

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  75. @terri5125

    Are you the one that posted the OZ link a while back?
    That was an eye opener - WOW!
    Thanks!!!

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  76. Rasillon-

    When were you in my bathroom! That was hysterical but oh so very true!

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  77. and there it goes... straight through 36.4..

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  78. hmm... what are the chances of a $1 bounce?! lol

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  79. Another good post Turd and that is the reason I keep coming back to your blog man. You just lay it out there, unvarnished and your pretty damn accurate every time.

    Keep up the good work ya bastard! :)

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  80. Paper shiny getting taken to the cleaners again today. Oh look, my stack is still the same height, width, and depth. This affects it not at all.

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  81. rut roh... 36 last line in the sand...

    fwiw, I removed my bullet I had lined up for 36. Wouldn't make much of a difference to my avg price adding there. Doubled my order for 34. (AGQ 160)

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  82. OK, not so smug on that CDE buy at 26.05. Thought $26 was a secure line of support.

    Action is pretty ugly. Gonna bail on some trades here.

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  83. Gosh Tesla- posted several things and can't remember...remind me what the OZ link was about real quick...

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  84. Wow, Evil I have no idea what you are talking about. I keep hearing Jules from pulp fiction when he was talking to Brett. You know "what country are you from, do they speak English in what... Fill in the blank. Can we get a translation on that post.

    ReplyDelete
  85. Not to mention your sense of humor! I've seen some pretty funny crap from you and posters alike. A man's gotta laugh from time to time at all this mess...

    ReplyDelete
  86. oh now I remember...the "Secret of Oz"...yes that was me and glad you took the time to watch it...that did change some of my perceptions and made me think things I would have stubbornly refused to look at before. It bums me that you can't actually search on youtube to find it. You actually have to have the link.

    ReplyDelete
  87. Silver end of month is lower than today.

    Look at the monthlies of almost whatever chart you like.

    Trend is down for indexes and commodities and european currencies.

    Trend is up for Dollar and Treasuries.
    That is the monthly picture - short term markets can go higher as well as lower. Wild and wide swings near tops are a normal.

    There is no QE3 shortterm to come. No way.
    Maybe in fall after markets are 20% or so lower.

    COMEX or JPM goes bancrupt since?
    They will never ever go broke - they will just change the rules, in the unlikely case it is necessary.

    These are the first innings of a major deflationairy wave south. Of course with ups and with downs. The losses of those with buried heads will be smaller than those fighting this coming wave. Those respecting the current trend will prosper.

    Shortterm fluctuations are noise. Be it up or down. Stick to the monthly.

    As for the physical - yes there is still a window open. But time is running out. Then another window opens for a few months. Then it is over - also for the physical for a year or so.

    ReplyDelete
  88. No, I'm talking CDE at 26.

    ReplyDelete
  89. @terri5125
    That was the history of the central bank in the US and the corruption that created the boom and bust cycles to strip the people of assets and transfer them to the rich families that control the monetary system.

    Showed what actually caused the depression of the 1870's and 1930's as an intentional manipulation of the credit market...

    ReplyDelete
  90. FUBM would be nice right about here.

    ReplyDelete
  91. as soon as JoeKa leaves... this happens...

    ReplyDelete
  92. @Turd, just wondering how far you see this take down going and for how long?

    ReplyDelete
  93. @terri5125
    Please repost - I can't find it... plus it ROCKS and others that missed out should take the time!

    ReplyDelete
  94. I'm getting **** sick of these waterfalls.

    ReplyDelete
  95. Yesterdays and todays action was predictable - it is an almost each month repeating cycle.

    Check previous announcements of NFP.

    ReplyDelete
  96. Don't sweat it Art. Please keep posting on the ags. Your insight is great.

    As for exits, I have some coming off at 7.70, 7.72, 7.75 and a hair under limit at 7.88 (today's wish order)

    Interesting times. Tornado in Springfield, Mass?

    ReplyDelete
  97. I can't see the current administration allowing a deflationary depression heading into an election year. If this starts to occur, much pressure will be put on the Fed to monetize and have one more attempt at kicking the can down the road until Obama is re-elected. No way the President allows the economy to collapse in a deflating way when he is so close to getting a 2nd term. I'm certain more money pumping, asset propping fluff is ahead to try to get him through next year. They will not let this fall apart downward in the short term.

    ReplyDelete
  98. 35.42 up next and then 33.50 not a lot in between tbh.

    ReplyDelete
  99. Ben Bernanke said...
    I have something special planned for June 1st. You won't want to miss it!
    May 31, 2011 9:57 AM

    Blythe said...
    I was going to leave you a message last night, Mr. Ferguson, but where is the fun in showing my cards beforehand each and every time? But now I will wish you this: MAY you have an exciting week!
    June 1, 2011 6:15 PM

    ---------------------------
    I don't know about you guys after things like this happen, I give more weight to these comments by Bernanke and Blythe. For instance I was wondering why MAY was capitalized - now we know.

    ReplyDelete
  100. 35.42 and 33.50 are the next obvious supports to me.

    ReplyDelete
  101. I'm going to start nibbling here. Downside targets for me are 1510-1520 and 35.

    Sell high buy low. Holla at ya boy.

    ReplyDelete
  102. Just bought the gold eagle I meant to last time XAU was 1525. XAG is scary right now. We've blown through the bottom of the 8hr Bollinger. Not interested in paper here, unless it's low 35s, but we should get a bounce back up, at least a little bit soon, charts are whacked out to downside right now, way oversold on stop/loss triggers. This was another clearing of stops for EE gain. Sucks, but that's why you've got to be nimble in volatile paper.

    Got my second XAU order at 1530, still target sell 1544 on (now) two small positions.

    ReplyDelete
  103. This is all further proof that QE3 is coming. Protect your principal and make sure you're ready to put it to use when the time comes.

    AND DON'T FORGET TO BUY PHYSICAL!!!

    ReplyDelete
  104. Leonard........are you implying these guys are legit??? hehhehhe.....they are only dipchit traders playing mind games with the peeps on this board......SOP for message boards....gl

    ReplyDelete
  105. Leonard, they are likely the same person. Also, someone here said it best. They are making vague comments so anything that happens will be attributed to that comment. It's like if I said "Hey guys, be sure to watch what silver does at noon tomorrow. You are in for a real surprise" If the POS goes up win if it goes down win. It's like those guys that can do a cold reading off the street

    ReplyDelete
  106. Look we've blown a full $20 off the gold chart and $1.50 off the silver chart, I am SO GLAD I got out of this shit when I did... everytime that bitch leaves a calling card here something very very bad happens in short order.

    Going to use this opportunity to stack some physical, *if* any can even be bought at this bogus paper price.

    ReplyDelete
  107. Well, the EE shook me out of AGQ, this thing looks like it has no bottom, I don't want a repeat of May 1, and I want to get out with a little profit for the year.

    Maybe I'll buy back in at AGQ 160.

    Fuck.

    ReplyDelete
  108. I bought puts for protection as now we are in the weaker side of the new moon to full moon cycle...

    aiming to buy physical when the price is lower....I guess no point fighting the cycle and EE...

    ReplyDelete
  109. I'm so happy at this turn of events I just mailed in a check for a tube of englehard rounds with free fedex overnight. I'm not paying those ASE premiums anymore, when it hits the fan my rounds will do just fine.

    But I tell you, if some BoS doesn't step up soon we're looking at a close ~ 36. If nobody at all steps up we're looking at a close of < $35.50

    ReplyDelete
  110. At this point I'd say we're due for a revision of that $42-43 target for June in silver. And crude is costing me so much money right now, I don't even want to talk about it (a lot).

    ReplyDelete
  111. ZH have a posting saying the entire commodity complex is getting whacked

    ReplyDelete
  112. Freefall Mode: Activated

    ReplyDelete
  113. You guys have to be insane to trade this crap. Might be a good idea to go trade something not manipulated so egregiously like bio-techs and make your fiat that way. It is only buying phyzz for me. Size, shape, and amount never changes no matter what these assholes do in the paper market.

    ReplyDelete
  114. That was painful. I sure hope that's the bottom for now so I can breath for a minute. Damn, sick of this..

    ReplyDelete
  115. Shit. Lost most of my profits on that one. Oh, well.

    ReplyDelete
  116. I see a huge trend developing u guys:

    Excuses, excuses, excuses when Turd didnt see something coming.

    ReplyDelete
  117. The way the metals are dropping now leads me to think of the 13 Jun 11 cycle date of the Martin Armstrong ECM low.

    "We have two primary possibilities for a low shaping up on the horizon. WE could create that spike low and BOTTOM precisely on June 13th/14th in a few weeks, and this would tend to suggest we may be more likely than not going to see the 1980 high of $54 exceeded by 2013."

    "The weekly timing turning points have also
    come into play as they were given in the
    March 1st report HOW & WHEN (Page 5).
    The key weeks for this turning point were
    the last week of April/first week of May.
    The next key weeks will remain the last
    weeks of May going into the week of June
    13th."

    "The force of this decline is encouraging. The
    faster it comes down, the shorter the
    duration: remember 1987, 1929-32. This
    could lead to a marginal bounce into the
    last weeks of May, and from there silver will
    turn down into the June 13th target."

    He has commented that if the metals drop into that day, it would be a perfect scenario for the subsequent rise later.

    http://www.martinarmstrong.org/files/The%20Silver%20Crash%20of%202011%2005-06-2011.pdf

    ReplyDelete
  118. 5 lower on gold and .60 lower on silver and it's load up time. come to daddy.

    ReplyDelete
  119. This is hands down one of your very best posts ever, TF. It IS a roadmap and we all need to take heed of your words and warnings. I have not read the comments yet but I am betting most agree that these words are very timely because we don't know exactly how/when this will all play out but I need and rely on you to give me prep perspective. This post has done that.

    It's very easy to get caught up in the day to day market strategies/buys/sells ....but the big picture is dire and sobering and we need to be making daily decisions in part based on what we know to be over the horizon. Storm clouds are gathering at an accelerating speed.

    I'm not ready. I'm honest about that. So much more to get done to position myself. But I know in whose hand I am held and I am doing my best.

    ReplyDelete
  120. It's a rout! The troops are running and the lines are breaking!

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  121. OMG WHAT IS HAPPENING.

    THE END OF THE WORLD.

    Chit. I have to go change my pants. Dang.

    I had the chit scared out of me. Well at least I am no longer constipated.

    ReplyDelete
  122. I feel like I am watching kittens being run over with a steamroller right now.

    ReplyDelete
  123. I have to agree a FUBM would be cool to see right here, looks like Blythe is certainly stepping on the gas today trying to drive through as many support levels as possible.

    ReplyDelete
  124. @ Turd
    The markets are already (and have been for some time) unpredictable from a chart analysis point of view. Said differently, the EE has been able to make "course corrections" of it's choosing at will. Given their pernicious desire to keep silver down as low as possible, and a regulatory system that is aiding and abetting them, your prediction of $42-44 seems highly unlikely. It also is evidence that your experience of waking up to the reality of our predicament remains incomplete. It's as if you've finally allowed the thought of what is really happening to penetrate your defense system, but you still remain in denial (probably because you want to continue to believe that the tools of your trade, on which so much of your public persona is based, are still valid). To fully admit that chart analysis is out of it's depth in this market manipulated world we live in, reduces you to one of us: just another voice believing that stacking is the only recourse in an economic world that is sure to collapse. Trader Dan has had his own slow conversion experience with all of this. While disempowering to longer know when the EE will pulverize your predictions, it must also be liberating because you can stop spinning your wheels, reduce your frustration and anger levels, and just settle in for the ride.

    ReplyDelete
  125. There is a lot of fear on this board. Too much.

    ReplyDelete
  126. @Turd

    Even as we speak, the EE is heavy at work ... $35.59 is my current reading ... 42-44 is disappearing in the rearview mirror, but rest assured the crash is--as you said--coming.

    ReplyDelete
  127. Lot of Ur said...
    ...

    As for the physical - yes there is still a window open. But time is running out. Then another window opens for a few months. Then it is over - also for the physical for a year or so.

    --------------
    Lot of Ur -- what do you mean by this? A window is open? For buying or selling?

    ReplyDelete
  128. Doubt it has bottomed but I think it's close. Lots of "TA sucks" talk and "Turd sucks" talk. That's screaming bottom to me.

    Sorry I didn't post yesterday, I would have been screaming "sell". My bad guys, I feel like I let you down.

    ReplyDelete
  129. @Level... yeah there is, and I can understand it.

    Taking a much calmer approach towards it and looking for the sign that this dip / rout / rape is over, then BTFD.

    I'm throwing sh1t til it sticks!

    ReplyDelete
  130. "If you aren't using the raids to add to your physical metal stash, you have a lot to learn."

    Maybe and maybe not. The alternative is to simply add physical whenever you get new fiat no matter what the market is. That means you have no fiat available to spend if and when a raid hits.

    I just don't see the quality of the information available to make those kinds of predictions about future raids. Instead when the market is going up, I see comments about "going to the moon"....

    ReplyDelete
  131. Turd will be right about 42-44 in June.

    ReplyDelete
  132. TF said "...One of the more bizarre parts of this whole experience has been my sudden ability to correspond with very well respected individuals within the precious metals community. I've learned and confirmed a lot so, in the coming days, we'll discuss the timing of the Comex collapse as well as other "big picture" revelations I've had. The world is going to be changing rapidly over the next 24 months and those who prepare will survive and even flourish. Those with buried heads are in for some very big surprises..."

    I'm glad I still read this blog as this is very exciting news to me. Can't wait for the "fly on the wall" reports.

    As for the "real" silver shares like two of my favorites, CEF and SLW, isn't it ironic that CEF has a negative NAV and if you listen to the Smallwood interview over @ financial sense, he said each share of SLW is the equilvalent of 5 oz of Ag. And Santa is going to speak at a conference this month, a real rarity for him.

    Strange times indeed.

    ReplyDelete
  133. @trollercoaster,
    Here's an excuse: you're not wanted around here.

    ReplyDelete
  134. i bot for short-term at 35.85 will be stopped out 30 cents down

    ReplyDelete
  135. 37.7 temporarily breached and no waterfall. that's a good sign.

    ReplyDelete
  136. @silberblick, so you reckon there's more to come?

    ReplyDelete
  137. Per Turds advice all paper trades I closed. Nothing but the real deal from here on in.

    I am out of the markets from here on in.

    ReplyDelete
  138. I'm pleased with the days events as it gave me great opportunity to BTFD

    I went in lighter than usual incase it goes down futher and i get to BTFD again

    ReplyDelete
  139. Pay attention traders - 2 nights in a row where we're essentially flat, followed by 2 days of routing. Our overnight friends have clearly been standing to the side. When you wake up and see that has happened (in the future) start thinking of what your downside protection needs to look like for the UK/US trade day. This is a pattern I've observed since last Fall when those margin increases were wiping everybody out in November. These moves get telegraphed to BOS and they do not buy overnight. That's a huge tell.

    We're real soft here, hope nobody is buying paper. We should settle for a bit, then see more downside on this move, even if it's not till tomorrow. You can buy then.

    I don't need to do "I told you so", but the scoffing was extreme when I called for 35s a few days ago. My point then was there would be better dips to buy (when atlee was talking about selling 37.50), and here we are, or nearly are.

    ReplyDelete
  140. This market action gives TPTB a solid excuse for rolling out more 'stimulus' and in doing so virtually guarantees higher highs for both Gold and Silver.

    'They've got us right where we want em!'
    Quit crying, Quit bitching and BTFD = FUBM

    (Turd kicks ass be pissed at the bankers and remember that without Turd you would be a lot more BLIND and CLUELESS than you currently are)

    ReplyDelete
  141. Silver has now given back half of its gains from the May 12 low. Let's hope 50% retracement is enough and we can start to see some green on those charts. Lots of damage though, will take some time to recover.

    ReplyDelete
  142. Good post blick. Silver will no doubt imo be double this time next year if not more. Turd is extremely talented in analyzing charts but it really does not much good when the damn thing can be manipulated at will and there is no accountability to any oversight group. I'm sure it is terribly frustrating to think you've got something figured out and then something like the beginning of May/June happens. There is no such thing as "support levels" when what you are trying to ascertain is a digital number that can be flicked up or down at the push of a few buttons regardless of what is going on in the real world.

    Really our only recourse is to be patient over the long term and stack the physical. You will go crazy watching kitco minute by minute wondering what does this mean or that mean, we had x volume and this happened or whatever. You may be able to point to something in hindsight but that will never be available to you before hand.

    ReplyDelete
  143. Events to smash the gold price:

    1. The unemployment report (their all-time favorite gold smash time)

    2. sometimes it’s an “economic event” such as a G-7 meeting

    3. A monthly Fed interest rate decision (their second favorite gold smash time)
    FROM
    Ranting Andy: Cartel Secrets Revealed
    http://babybulltwits.wordpress.com/2011/05/31/ranting-andy-cartel-secrets-revealed/

    June seems to be the seasonally weakest time of the year for PM's. While we hoped that maybe this year would be different, it seems the EE still remains as powerful as ever when it comes to smashing the price of gold and silver. I think all of this is timed precisely to set up for QE3 which seems all but certain at this point.

    ReplyDelete
  144. FUBM? Just feels good to say, even if they're in complete control..

    ReplyDelete
  145. I believe there was a miscalculation on QE3. I think we will probably get it, but only after a disaster collapse(for commodities) and a knockdown of equities.

    I am starting to think that the contrarians that have been on here are going to be proven right, which is very painful to say.

    ReplyDelete
  146. Can anyone direct me to the post where Turd names the guys to contact at Lind Waldock regarding opening an account? I know he just posted a link to that post a few days ago.

    At this point I think the only safe way to play the paper game is if you have the ability to stand for delivery, in the event that they crush the paper price. Either you'll get the metal or you'll get a nice premium to accept cash instead.

    ReplyDelete
  147. damn already had to get out, still no volume on the bounce means we will prob get smashed again. 10 cents on future contract is not worst thing though, can stack some more now!

    ReplyDelete
  148. Couple of things:
    Another " Ken" has appeared. That was inevitable, and unlike the Eric's, I'm not going to add a numeral or notation. Maybe I'll change with the new site.
    Next,
    @TF - with the creative use of a sharpie and whiteout, you remove the nonsense and the white noise for those that share your blog. It takes no leap of faith to understand your posits; the tipping point is past and the outcome is inevitable. Charting the unchartable is what you do best. It is why I spend a hour of each busy day in Turdville.
    Last,
    There are just a handful of people here that have a clue as to the means and methods the EE has at it's disposal to best position itself in (tinfoil hat, please) the New World Order. Things are not as the seem, or vas they are portrayed. We can not beat them on their home field... no one does paper and credit better than they.
    Stack, stack, stack.

    ReplyDelete
  149. Not one of my dozen stink bids is even close to being hit.

    Looks like we're going to need 1450 and 29 before I start adding to miners and explorers.

    ReplyDelete
  150. @atlee

    Maybe you should not be so harsh on @Evil, seeing as he posted about them trying to find what support levels need to be broken, and then 30 minutes later the bottom falls out. IIRC he's the one who is afraid for his wellbeing so d don't you think it's fortunate that he risked coming out of hiding just in time to tell us to bail?

    I respect your opinion dude but look at all sides man, don't discount anything just on your preconceived notion.

    ReplyDelete
  151. I'm back on the floor in the fetal position sucking my thumb over AGQ. Poof go the profits.

    ReplyDelete
  152. Tell me why the dollar is suddenly spiking upward?
    Mass exit from other financial instruments maybe causes dollar to spike?
    ...like suddenly there is a shortage of this (digital or real) paper?
    like a supply demand thing.

    Or is it the consequences of the banking systems fractional currency backing of loans/credit causing a reduction of allowable lending per the
    10:1 mandate or whatever it is...?

    Thanks in advance if anyone can explain this to me!

    ReplyDelete
  153. is anyone actually blaming Turd? seriously?

    make your own decisions, you are the only one pressing the buy or sell button.

    Anyone playing paper is gambling, including me.

    Anyone playing paper silver is a crazy mofo, including me.. look at any silver chart over any 3-4 week period and imagine that as a real roller coaster... and with every dip its trying to shake all the change out of your pocket!

    ReplyDelete
  154. Leonard you need to start thinking for yourself, and not relying on mumbo jumbo from the Internet.

    ReplyDelete
  155. palin great post I have noticed that.

    ReplyDelete
  156. @Leonard there are different ways of calling a drop the cloak and dagger style of Evils post makes me take it with a pinch of salt.

    I havent been on here long enough to see enough of Evils posts but I'd be interested in seeing his / her accuracy or if its just lucky timing.

    and I doubt anyone who really knew when this drop was going to happen, would be posting on here minutes before.

    Also, Evils post was warning about the weekend.

    So far ( I hope theres not more) at 35.60 we weren't even 10% off our recent peak of 38.80 and If I'm right, the high yesterday was around 38.4 and the low was just over 7% down..

    We've had worse days!

    ReplyDelete
  157. Hi Tesla-- here is the link to "SECRET OF OZ"
    this is worth watching as Tesla attests. By the way, I was not the first to post this.

    http://www.youtube.com/watch?v=U71-KsDArFM

    ReplyDelete
  158. @ievi:
    http://tfmetalsreport.blogspot.com/2010/12/opening-options-account.html

    You can search the site for specific items using the following template:
    "Lind Waldock" site:tfmetalsreport.blogspot.com

    ReplyDelete
  159. Sorry I didn't post yesterday, I would have been screaming "sell". My bad guys, I feel like I let you down.
    ++++++++++++++

    Well you are not forgiven. It STSOOM. Now I have a mess to clean up. And I am in cash looking to buy. Unfortunately I am not yet ready to trade. Good thing we have the COMEX and the CFTC with the foreign banksters at the Federal Reserve working to protect us little guys.

    Well Obama promised us change.

    ReplyDelete
  160. I think I'll hop on the motorcycle, crack open the throttle and get a fresh perspective. While I'm at it I think I'll stop by my dealer and see what he has for 100 oz bars. Seems like a decent day to add a couple or 3. The grains are hanging in there smartly with about a 1% gain for the day; I'll take that as a good sign - maybe we will bottom out and create a FUBM yet today!

    ReplyDelete
  161. oh, and if it makes anyone feel any better, I'm in the red 4 digits.. not happy about it but I'll ride it out!

    ReplyDelete
  162. Douche Bags are so Doucheie on down days.

    Keep up the great Turd no man can out think a machine, but you are doing a hell of a job!!

    Props brother.

    ReplyDelete
  163. @ Leonard

    pls do not take this the wrong way.

    We have discussed in the past the transition to QE 3. That there may have to be an event to sell it. Well, the event that the stock mkt goes down hard, maybe flash crash, without the lift of QE a possibility? Does that also take some wind out of the sails of commodity prices?
    So do I need a monkey with an algo to tell me that the criminals are looking for pressure points? Do I believe there is a traitor from the other side (a lone ranger)risking it all to help the little guy, the target, the taxpayer? No! I believe we have someone who is looking for some love from the weak kneed who need to believe that there is still good in the ranks of the banksters/hedgies/criminals. Believe what you want, at the moment you are still free in this nation.
    I view it as pure entertainment value.

    Until Turd tells me to piss off, I will still speak my mind when I choose to do so.

    ReplyDelete
  164. ncot-
    just curious - did you short last night after reading that link?
    i think long term is the only way you can play this game...

    ReplyDelete
  165. TRUTH! Thanks Turd

    Unequal weights and unequal measures...

    ReplyDelete
  166. FYI:
    Article by Ted Butler on the Nickel default in '06

    http://news.silverseek.com/TedButler/1156198042.php

    cheers! Stack it up!

    ReplyDelete
  167. @Cookie, no I didn't - wish I had!

    I'm think mid term so hopefully within a few weeks after a few more BTFDs I should be ok.

    Crappy birthday tomorrow though!

    ReplyDelete
  168. In case anyone has not yet seen this -- Trinity B bows out, apologizing for screwing with everyone's heads:
    http://screwtapefiles.blogspot.com/2011/06/trinity-b-rip.html

    Of course, the incorrigible conspiracy theorists can assume that (s)he WAS for real, but was silenced by corporate overlords. But the simpler explanation of lucky guess, perhaps aided by minimal insider info/trading experience, seems much more likely.

    Blythe and B B are comic relief. You can choose to adopt them as mascots, but it's much like not changing the socks you wore to the last won game, or throwing spilt salt over your shoulder to ward off bad luck. It works because the mind is a very powerful tool. Google 'placebo effect'.

    ReplyDelete
  169. http://www.federalreserve.gov/monetarypolicy/fomccalendars.htm

    FOMC meets June 21-22, not surprising 'deflation' pitch is the flavour of the day coupled with brutal economic reports 'planned' to come out at this time.

    Interested in reading the Fed's logic - housing/employment stink while inflation remains subdued, in the eyes of the Fed. Dual mandate, imo, screams for QE to infinity.

    Not sure if FOMC can initiate QE3 without debt ceiling being raised. If not, no QE3 on June 21.

    Perhaps FOMC will discuss need for QE3 but contingent on approval of debt ceiling raise. Fed's have green light for QE3 so if they don't make an announcement, not sure how the Fed spins the need for QE3 as, again, housing/unemployment stink.

    Notwithstanding, perhaps while the Fed's have the green light, they might be afraid they'll be blamed for the consequences of QE3. Ergo, may need some further cover.

    The market has been and is begging for easy money via continued QE. If they don't do it, suspect Fed will need to be begged by congress/markets/constituents for QE. If housing/unemployment won't do it, raises the probabilities of a more than moderate decline in equity markets.

    Perhaps then, the Fed needs further 'begging' so that post QE3, the Fed has clear cover to continue indefinite QE.

    ReplyDelete
  170. @Leonard
    RE: Bernanke/Blythe comments

    I was thinking the very same thing!

    I wasn't sure if someone was just being a wise-ass or not.

    Is there a common pattern to those kinds of posts?

    ReplyDelete
  171. http://www.reuters.com/article/2011/06/02/financial-regulation-cftc-congress-idUSN0228692020110602?feedType=RSS&feedName=rbssFinancialServicesAndRealEstateNews&rpc=43

    US Senate bill would force CFTC to act on position limits

    Thu Jun 2, 2011 4:23pm EDT

    * Sen Sanders to propose position limit bill next week

    * Bill would force CFTC to curb oil market speculation

    * Proposal latest effort to prod CFTC action

    By Christopher Doering

    WASHINGTON, June 2 (Reuters) - An outspoken U.S. senator who criticized the country's futures regulator for failing to crackdown on energy speculation said on Thursday he will introduce legislation next week that will force the agency to act.

    Senator Bernie Sanders said the legislation would force the head of the U.S. Commodity Futures Trading Commission to use emergency authority to impose limits on the positions investors can take in crude oil, gasoline and heating oil. The move could occur without support from the majority of the agency's commissioners.

    The bill also would raise margin requirements in the markets and force big Wall Street houses to live within prescribed limits.

    "We cannot allow Wall Street speculators to continue to rip off the American people at the gas pump any longer," said Sanders, an Independent from Vermont.

    ReplyDelete
  172. Deutche Bank is awful close to Douche Bag, just saying.

    ReplyDelete
  173. Turd, do you have any recommendations for miners? Can you recommend some we should at least consider for our own research?

    ReplyDelete
  174. Miner recommendations generally focus on operations that have the lowest cost which means they probably use inkjet cartridges from places that carry laser toner

    ReplyDelete
  175. The purported servicemen appear to be aware that they are being filmed.

    Pentagon spokesman Capt John Kirby said in a statement: "We are deeply troubled by the video. Whoever it is, and whatever the circumstances - which we know is under investigation - it is egregious behaviour and unacceptable for a member of the military."

    Marine Corps headquarters at the Pentagon said in a statement: "The actions portrayed are not consistent with our core values and are not indicative of the character of the Marines in our Corps. This matter will be fully investigated.''
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  176. oh, and if it makes anyone feel any better, I'm in the red 4 digits.. not happy about it but I'll ride it out!
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  177. Avoid repeating gossip. Ask yourself whether the source is reliable; whether the material is being presented as true; and whether, even if true, it is relevant to a disinterested article about the subject. Be wary of sources that use weasel words and that attribute material to anonymous sources. Also beware of feedback loops, in which material in a Wikipedia article gets picked up by a source, which is later cited in the Wikipedia article to support the original edit.
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    After having done enough revision, Minh decided to try his luck at the 2008 university entrance exams in Hue with hopes of getting into the Architecture faculty at the university, but unfortunately he did not pass. Again, in 2010, Minh went for the entrance exams for the Physics faculty at Hue University of Sciences.

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  179. The amount of material in the forest floor depends on the balance between inputs from litter production and outputs from decomposition, and amounts also reflect the site's disturbance history. Both litter production and decomposition are functions of the site (e.g., wet versus dry; cold versus warm; nutrient rich versus nutrient poor) and the vegetation that occupies the site (e.g., conifer versus broadleaf). A site's forest floor is determined by its areal weight, depth, and nutrient content. Typically, forest floors are heaviest and deepest in boreal forests and mountain forests where decomposition rates are slow. In contrast, the lightest and thinnest forest floors usually occur in tropical rain forests where decomposition rates are rapid, except on white sands where nutrients could not be supplied from mineral weathering.
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    SHINGLES FACTS
    Shingles is caused by the reactivation of the chickenpox virus
    People who have not had chickenpox cannot develop shingles
    Someone with shingles can give another person chickenpox if they have never had the childhood infection

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  181. During the Roman era the river was crossed by a ford, and in Anglo-Saxon times formed a boundary between Wessex and Dumnonia. From the medieval period the river served the Port of Bridgwater, enabling cargoes to be transported inlan

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  182. The pre-let is hugely important for Kingston-Upon-Thames. Once upon a time it had a growing office market and was a promising CBD that would perhaps rival Croydon, something that can be seen from the existence of Tolworth Tower, the first office tower to be built in suburban London.

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    The arrival of the railways led to a decline and commercial shipping now only docks at Dunball. The Parrett along with its connected waterways and network of drains supports an ecosystem that includes several rare species of flora and fauna

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  184. This has been a bugaboo of mine for a long time. How in god's name do you determine if a miner is truly unhedged? I don't believe it's as simple as it sounds. It has to do with a miner's financing: have they cut deals for hedged silver to their lenders? Have they cut deals with SLW for future silver sales? A miner can say they are unhedged and still be hedged deep in their books courtesy of their bankers.argan yagiaccommodation stradbroke island

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  185. US Senate bill would force CFTC to act on position limits

    Thu Jun 2, 2011 4:23pm EDT

    * Sen Sanders to propose position limit bill next week

    * Bill would force CFTC to curb oil market speculation

    * Proposal latest effort to prod CFTC action

    By Christopher Doering
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  186. Interested in reading the Fed's logic - housing/employment stink while inflation remains subdued, in the eyes of the Fed. Dual mandate, imo, screams for QE to infinity.

    Not sure if FOMC can initiate QE3 without debt ceiling being raised. If not, no QE3 on June 21.
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    SCPA student Roscoe (Rocky) Carroll won the 1981 National Endowment for the Arts Talent Search in drama and became a Presidential Scholar in the Arts. The school received the Blue Ribbon School of the United States Department of Education in 1984 and the National Secondary School Merit Award in 1985.[49][50] By 1985, it had been credited as the model for arts schools in 100 cities in the US, Europe, and Asia

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  188. The amount of material in the forest floor depends on the balance between inputs from litter production and outputs from decomposition, and amounts also reflect the site's disturbance history. Both litter production and decomposition are functions of the site (e.g., wet versus dry; cold versus warm; nutrient rich versus nutrient poor) and the vegetation that occupies the site (e.g., conifer versus broadleaf)holidays to barbadostrajes de

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    It was intended as a reminder to faculty at the university that references quickly become dated, but quickly evolved to become a hugely popular annual list that gives a snapshot of how things have changed, and chronicles key cultural and political events that have shaped a generation.

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