Monkeys Attack

The Wicked Witch unleashed the monkeys this morning and the effects were immediately felt.

I hope you noticed the "p.s." at the bottom of the previous post:

"p.s. If there really is going to be a CFTC meeting tomorrow to discuss position limits, do not be surprised to see some EE shenanigans overnight. The Forces of Darkness may want to "remind" the commission just who really is in charge..."

Let's see...The CFTC meeting is scheduled to begin at 9:30 EDT. As a not-too-subtle reminder, the monkeys were unleashed at approximately 7:35 EDT.

paper_10-18amgold1.jpg

Bombs away and smash the PMs on the Globex after London is finished and before NY begins. Classic. Textbook. A message. "You're not in charge, Mr. Gensler. We are."

Mission accomplished. By smashing price this morning, The Cartel has also managed to tilt the charts negative, too. The rising trendlines of support have both been broken and now the metals look to trade lower before finding more substantial support near $1600 and $29. Let's hope they don't fall that far but they could.

paper_10-18amgold3.jpgpaper_10-18amsilv.jpg

Anyone interested in watching the proceeding this morning can use this link:

http://www.capitolconnection.net/capcon/cftc/101811/CFTCwebcast-live.htm#

Sorry for the short post this morning but I'd like to watch, too. More later. TF

371 Comments

onewileyz's picture

First!,,,,,

Thanx buddy!

onewileyz's picture

First!,,,,,

Thanx buddy!

humbleprofits's picture

So, does that make me second or turd?

Love that BofA is positive.  And my wife wonders why I drink.

Humble

Tesla's picture

Thanks Turd -

Appreciate that link and your comments are always rockin' man! Have a good morning!

GoldMania3000's picture

When does it end

Jan and Feb--beaten down...march/april--up up and away...may/june--beaten down...august -up up for gold..sept/oct beaten down..

nov/dec?

No market is like this. what are their price goals? maybe they want to contain it 21% increase a year?  how long can they keep silver down? they can do whatever they want --remember they act like gods

Turd Ferguson's picture

Watching the meeting

MODERATOR

It's getting ready to start and there's hardly anyone there.

I wish I had gone...

Planters's picture

They will win everytime

It is their world, you are just living in it.

RedRover's picture

Goldman Sach’s Hatzius: Fed to Stave Off Recession With QE3

http://www.moneynews.com/Headline/Hatzius-Fed-recession-QE3/2011/10/17/id/414679

The Federal Reserve will roll out a third round of quantitative easing — asset purchases from banks — and steer the economy away from a fresh recession, says Goldman Sachs Chief Economist Jan Hatzius.

The Fed, under Chairman Ben Bernanke, has already launched two rounds of quantitative easing, known widely as QE1 and QE2.

QE1 saw the Fed buy $1.7 trillion in assets from banks, mainly mortgage securities, while QE2 saw the monetary authority snap up $600 billion in Treasurys.

Critics say such policies threaten to push inflation rates up, but Fed officials say they were necessary to avoid deflation.

Get ready for QE3, Hatzius tells Forbes.

"We expect QE3 in six to nine months, probably in a seamless transition from Operation Twist," he says, referring to Operation Twist, another Federal Reserve policy under which the Central Bank shuffles its Treasury holdings around to keep long-term interest rates low.

With QE3 and other loose monetary policies, the U.S. economy should grow 0.5 percent in the first quarter of 2012, narrowly avoiding a recession, Hatzius says.

"It won't be largely effective, but it helps at the margin," Hatzius says, adding that "the idea of monetary easing in response to a weak economy has been the right strategy, and it has been useful...

 
 
humbleprofits's picture

@Turd

That yellow hat of yours certainly would have added some color to the room.

Humble

paulindoon's picture

Link??

Good morning Turd: Is there a link for the CFTC meeting??

brad_pitts_betterlooking_brother's picture

cftc

they don't seem to be in any more of a hurry to start that meeting than they have been to implement the position limits.

you might still have time to make that meeting if you leave now, turd!

Perfidious Albion's picture

I made the move btfd and suddenly..

the plughole opened

DeltaCharlie's picture

Happy birthday at start of the CFTC meeting... LOL.

WTF?  They're singing happy birthday to Gensler???? 

readingalot's picture

happy birthday. you've got to

happy birthday. you've got to be kidding.

paulindoon's picture

Thnx jacey - yr link works

Appreciate the link.

Bozzz's picture

Ivars, I really appreciate you sharing

This is a repost as I got tangled up in them and put it under one of Turds about three postings ago. I really wanted it viewed by as many as possible...I think it is important anyways.  

Ivars, I really appreciate you sharing your knowledge, here. I think one reason your ideas aren’t being seriously considered on Turds site is a context issue… or maybe, they are, and it’s not, and I’M just the last to figure it out.

I presume you’re from Russia or from an area close to there, and, no offense, but your writing is sometimes a bit misleading, for example, you wrote.

“Also, FED can print a lot and USD will not fall as no one wants it.” When I first read this, I thought you meant no one wanted our dollars and our dollars will appreciate in value.  Well, that didn’t make any sense, not until I read it several time and put it together with the rest of your message.

What I gather your intended message is, is that no other country wants our dollar to decrease in value as it’s on their “balance sheet”, and for this reason they won’t let it decrease. And how this happens is, it’s going to be a printing war, the U.S. against the rest of the world and the world will over whelm our efforts.

I would STRONGLY recommend that the “turites” read carefully what Ivars writes, it’s very compelling and makes a whole lot of sense.

silvergoldsilver's picture

Turd Check Email asap

BOOOOOM!

Mudsharkbytes's picture

First!

Since it seem my one & only 'First' post from a few days ago is the only one that got moderated off the main thread, I thought I'd go ahead and repost it.

OC15's picture

Ivars

I think his charts need to be stickied somewhere on this site.  Whatever data he has gathered and plugged into his models has produced impeccable and timely charts.

brad_pitts_betterlooking_brother's picture

douchebag alert

it's ok now.  dunn is done talking.  (and singing).

Moderator Washington's picture

Spam Dump

MODERATOR

Appreciate all the flags on the huge overnight spam dump.  I'm working on it, but it's time consuming finding them all (50+) and killing them one at a time.  I'll get there, but I might need to stop for sustenance at some point. frown

Dr Jerome's picture

I can't believe my ears...

Is this commissioner serious? She believes that our financial system has done a good job of self-regulating?

She uses no less that one argument fallacy per minute. Too many to call out as she speaks!

She says the CFTC wil be blamed when position limits fail to control inflation. Then she says its not the CFTCs job to control prices! All this to justify her opposition... I can't bear to listen!

Tesla's picture

Thanks Mod Wash

Don't pass out from hunger man!

Mudsharkbytes's picture

Looks like Sommers

has the head of an Asian woman mounted on her desk.

creepy.

exrocker's picture

Hearing

"this rule will make hedging more difficult... " 2nd speaker sounds as if she is against Position Limits, as was the first.

Mudsharkbytes's picture

Looks like…

they got the early morning message from the cartel - at least so far.

You ask me, nothing's going to change.  I would like to be wrong, though.

Turd Ferguson's picture

patience

MODERATOR

Let's see what Comm Chilton has to say.

redwood's picture

41

Your post dovetails with my previous post:

 

Ivars,

As always thank you for your brilliant post.  There are a lot of advanced concepts there to digest, but perhaps the most important which I  agree with you, is that USD will enter a  deflationary period next year.  Once one accepts that, it changes the entire management of one's financial planning.  It is an extremely important point.

"Declining prices, if they persist, generally create a vicious spiral of negatives such as falling profits,  closing factories, shrinking employment and incomes, and increasing defaults on loans by companies and individuals. To counter deflation, the Federal Reserve (the Fed) can use monetary policy to increase the money supply and deliberately induce rising prices, causing inflation. Rising prices provide an essential lubricant for any sustained recovery because businesses increase profits and take some of the depressive pressures off wages and debtors of every kind."

 
If one follows the above excerpt the emphasis in a deflationary cycle is the loss of profits, shrinking employment etc.
The Fed will counteract that with money printing but only to barely hold it at bay.  So in essence the predominant trend will be deflationary.
Tesla's picture

That Bch is Bought and Paid For

Grrr - She'll look good in an orange jump suit someday (hopefully soon)

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