The end of the Great Keynesian Experiment is upon us. Turd Ferguson and his band of loyal Turdites patrol this Watchtower. We are here to help each other navigate the coming economic chaos. However, no one can predict every eventuality, so please read the disclaimer and community guidelines before proceeding.

All Things Considered

Given the HUGE turnaround and rally yesterday, that prices are only down 1% or so is actually quite constructive. This is particularly true when you consider the washout that continues today in the Japanese yen.

TFMR Podcast - Monday, December 1

In a turnaround that must make even the most ardent permabear and Cartel Apologist quake in his boots, both gold and silver roared back today from their Sunday evening lows. Last month, we identified the price levels where it appeared that the paper--physical connection finally seemed to fray. Today's price action is just more evidence that we are seeing things clearly.

Madness

Tops and Bottoms are often made through wild volatility. While the jury is still out regarding a Bottom, the volatility sure is impressive. In fact, with just a few more ticks to the upside today, both gold and silver will paint TMOAORDs onto their respective charts.

SWISS GOLD INITIATIVE FAILS

In no surprise to Turdville, the SGI went down in flames today by a margin of 77-23. 

Weekend Reading & Soul Searching

Keeping our perspective in weeks like this helps all of us to keep our cool and act rationally in our own personal best interests. After I stopped screaming Friday afternoon, I was struck with the necessity of a healthy perspective.  Come on in to re-read (or read for the 1st time) several "Epic Posts" by members here that may just help us keep our heads. The heart of hte matter seems to be our commitment to hold on to our story of Keynesian failure, rather than giving into the MSM story of Keynesian success, selling our metals, writing off our losses, and re-joining the larger society. It seems to be a choice that many readers here have to revisit every couple of weeks. Are we fooling ourselves in massive cognitive dissonance, or are we right?  (image by Pining)

TFMR Podcast - Saturday, November 29

There are certainly some signs that we once again stand near the edge of the precipice. Therefore, I thought I'd just make this podcast immediately public.

Red Friday

Jeez, Louise. It's hard to know where to start. The metals are down but that's not surprising. Crude oil is staring at 5+ year lows and the bond market is continuing to rally. The "global disinflation bias" continues and it all appears to be accelerating again.

Why is it taking so long?

Which metaphor is most accurate? A collapsing stage on which the antagonists fight? Musical chairs of gold ownership? Or the Pirates of the Caribbean maelstrom that was sucking down the losers as they fired rounds at one another? I am certain the metaphor is NOT a sunny road into the future where “hope” motivates us to achieve our liberal-socialist dreams of equality, prosperity, and an easy retirement.

The Holiday Tradition

A holiday tradition continues here in Turdville as The Golden Jackass himself, Jim Willie, recently stopped by for a discussion of current global events.

Into December Expirations

If you're like me, you're scrambling to get your act together. Maybe head out of town for the day or looking forward to a house full of guests. Either way, you don't have much time so here's just a quick update.

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