Christmas Eve Eve

Has this ever happened to you? Your spouse or "significant other" tells you something like "let's not spend money on each other this year". Let's just get "one or or two small presents" and spend money on other stuff, instead. Then you wake up on 12/23 and find all sorts of presents with your name on them under the tree and realize that, instead of relaxing, you'd better get your arse back to the mall...fast! That's where I'm headed today but first, this quick update.

Here are your updated hourly charts. You can clearly see that both gold and silver have found some price stability in their current trading ranges. Frankly, after last week, we all could use some price stability, regardless of where that price is. Now, having found a bottom, we need prices to break out of these ranges to the upside. For gold, that means a move through 1650. Silver needs to get back above 30. They both need to hold these breakouts and then move higher. At that point, another "Turd's Bottom" will be officially stamped and we can begin to move forward on 2012. Lastly, note that lease rates have moved decidedly higher and are officially back into a "neutral" area. Since we first remembered the correlation 16 days ago, the one-month rate has moved back up from -0.57% to today's -0.24%. This shows us that the overwhelming selling pressure of last week has abated.

paper_12-23amgold.jpgpaper_12-23amsilv.jpg

paper_12-23amlease.jpg

OK, four items to help you pass the time today. First, this letter from Jackass Jim Willie. This is a very interesting and important read and you need to take the time to contemplate it.

http://news.goldseek.com/GoldenJackass/1324501200.php

Next, our buddy Gonzalo has written a new piece on LTRO and the ECB. Ole Gonzo's got this whole European mess dialed in pretty well so when he writes something new, you have to read it.

http://gonzalolira.blogspot.com/2011/12/european-central-bank-loses-its.html

Two items from Eric King's site have gotten a lot of attention in the last 24 hours. First, Eric posted another brief note from his "London trader". Granted, this "source" hasn't always been 100% accurate but he's been accurate enough over the years to merit your attention. In this case, what he says echoes in large part what The Jackass was stating above.

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/12/21_London_Trader_-_There_are_Tremendous_Silver_Shortages.html

Eric also has an insightful audio interview of Santa.

http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2011/12/23_Jim_Sinclair.html

Oh, and one last thing. Sadly, peace on earth and goodwill amongst men continues on shaky ground in the MENA. You might want to keep an eye on this over the weekend:

http://www.zerohedge.com/news/iran-launching-massive-ten-day-war-game-tomorrow-close-proximity-cvn-74-john-stennis

Well, that's all for now. I recorded a fun, new podcast yesterday and I will be posting it later this afternoon so please check back over the weekend and give it a listen. I'm off to fight the mall crowds. Pray for me. TF

p.s. wtf is this? Anyone have any thoughts?

http://news.yahoo.com/space-ball-drops-namibia-133326985.html

161 Comments

foxenburg's picture

First?

First?

SilverFocker's picture

Second !

Second !

And uhh.........I to find myself in the same position, Arrrgg

Be Prepared's picture

Turd - TSA Christmas Carol

Lose Your Rights on This Christmas Night

Dashing through the Airport
With a two-wheeled piece of Luggage
O'er the Lines You Go
Grimacing all the way
X-Ray & Metal Detectors loom right
Making your innards burn bright
What fun it is to grope and feel
A TSA song tonight

Oh, Lose your Rights, Lose Your Rights
Bending all the way
Oh, what fun it is to grope
In a force march through our lines
Lose Your Rights, Lose Your Rights
Terrorizing all the way
Oh, what fun it is to grope
In a force march through our lines

Use the melody to Jingle Bells and You get the Idea! I can't believe the TSA actually has their agents singing Christmas songs as they shove you through the dehumanizing strip search!

Green Lantern's picture

Oh how I love amazon.com   

Oh how I love amazon.com    CLICK 

FriedEggs's picture

Re: spaceball

Its an Imperial spy droid...

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Image Detail

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Fried(e)

.

.

P.S.

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images?q=tbn:ANd9GcQSh8iRyrzx0pt-gHW0DLw

MMMmmm, baked i am.

Excalibur's picture

Gold space ball

The space ball will be found to be solid gold, and to be the first of many, so you had better sell your gold before the price plummets. Cannot find the CNBC link yet.

On the other hand, it is the harbinger of Lindsay William's  2012 divine intervention.

Anyway, good luck Turd. I know how you feel. Pour yourself  a big one when you get back. 

Mickey's picture

Turd: this is why you need a secret stash in the house

in case you get crossed up like you describe. Happens all the time.

A nice touch was last year when I gave a AGE neckless --the kids laughed and said "figures" .

Have a stash for all seasons at low , mid and upper end so you have flexibility. You get a surprise gift, you smile and leave and come back in a minute or two so it all looks normal.

Bsong's picture

That would be a

104 Litre Hydrazine Propellant Tank: Model OST 31/0

http://cs.astrium.eads.net/sp/spacecraft-propulsion/propellant-tanks/104-litre-hydrazine-propellant-tank.html

It's insides contain just under one monster box, Ho Ho HO!

Air Garcia's picture

Tagged!

the big salami was in north texas the other day and I couldn't resist the opportunity ... 

got to spread the word! 

AG

Shill's picture

p.s. wtf is this? Anyone have

p.s. wtf is this? Anyone have any thoughts?

http://news.yahoo.com/space-ball-drops-namibia-133326985.html

One of the comments on the metal ball

"Obviously to the trained eye, it is an empty alien beer keg."

Ha ha ha ha ha ha

FriedEggs's picture

On a serious side note

I find it *strange* that 'Christ's Church' got struck by a 5.8 (13) and another 5.8 (13) earthquake in New Zealand - again.

Yes, i know and understand that the Ring of Fire is a volatile are in the Pacific for Earthquakes and Volcanoes...

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However, here we go again with strange coincidence's with symbolic names during this particular time of the year... 

'Christchurch gets hit with an earthquake right before - Christmas' = odd

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I asked for a case of Alcan Aluminum tinfoil this year...

HD - heavy-duty baby

images?q=tbn:ANd9GcRHX4uxFcsqKXU28eWL2k-

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Fried(e)

Be Prepared's picture

Payroll Tax (2 months) vs. Mortgage Fee (10 years)

Bruce Krasting recently made this comment about the Payroll Tax Cut Bill now Law.  It's exactly what I've been saying and I, again, don't see why this isn't so blantantly obvious to every member of Congress.  Boehner caves and now anyone buying or refinancing a house gets screwed royally.

1) The bill sucks money out those who have a mortgage. But if this method of financing the stimulus were used to cover the other ten-months of 2012 it would but a monster bite in those homeowners. It is dumb economic policy to stick it to those who borrow money for the next ten years to pay for a two-month stimulus. It is insane to think that this could be expanded to cover a full years worth of stimulus.

My point is that there is a funding hole for expanding the stimulus beyond February. We can look forward to another stupid big fight. It will be interesting to see whose pockets get fleeced next. Maybe a levy on farmers, pro athletes or even the Boy Scouts will come up for considerations. Those options are no dumber than taxing mortgages.

BagOfGold's picture

Space Balls...Alien fallout first...& then?!?...

!?!...?!?...

Bag Of Gold

Quioxte's picture

Re: space ball

Quite certain it's a Gingrich for President campaign balloon.

Shill's picture

Fight for new Nikes leads to

ClinkinKY's picture

Repost since my last post was "Last" on previous thread:)

Security questions

I know that the opinions of Turdites regarding security of their "stash" runs the gamut from "put it under your mattress" to "bury it in the yard" (to say nothing of the unfortunate members who've lost theirs in  boating accidents:) but I have a question regarding the relative safety of a bank's "security deposit box". I don't have "a fortune" but what I do have, I would like to secure. I live in an apartment so the "burying it in the yard" is not possible.  Knowing that some members don't trust the honesty/integrity of bank employees honoring the customers personal property in a SHTF scenario does anyone see any alternative to placing my "stash" in a bank security deposit box?

GM Jenkins's picture

London Trader

Merry Christmas, Turd, and to all the Turdites. Thanks for the work you put into this site.

Re: the London Trader, he's actually been quite accurate, with the exception of one terrible call in September. I evaluate his performance here:

http://screwtapefiles.blogspot.com/2011/12/london-trader.html

beardeus's picture

Peter Schiff coming to AZ January 9th

Be Prepared's picture

@ClinkinKY

Posted a response in last thread... :-}  Merry X-mas!

Indentured_Servant's picture

wtf is this!

That looks like a standard fuel or cryo tank from a spacecraft. Low Earth orbit is littered with failed spacecraft, craft that expired or ran out of fuel etc. There have even been a number of spacecraft collisions with at least one of them being intentional. The spherical tank is likely made out of titanium. It could also be part of a payload from a research balloon.  What goes up, must come down.

Believe it or not, with the advent of GPS, small, lightweight computers etc, amateurs are launching their own balloons and attaining heights in excess of 85,000 feet. My wife is involved in this. She has some spectacular pictures of Mt. Rainier and the North Cascade mountain range that show black space above, deep neon blue below and the curvature of the Earth.

Edit: I just re-read the article. 14" in diameter and 12lbs. makes me think it could still contain liquid though I doubt it. The weight could be hardware inside. These tanks can contain hypergolic fuels like hydrazine which will kill you graveyard dead. Best not to screw with one if found.

I_S

beardeus's picture

@ Indentured_Servant

I wouldn't mind seeing some of those photos.

Shill's picture

Congress OKs temporary

Congress OKs temporary payroll-tax-cut extension - MarketWatch

( Insert gasping for breath huffing ) We worked hard to get this done, our number one concern was the American people...

Winning little hearts and minds, one shotgun lode of non-lethal rubber buckshot at a time...

Quioxte's picture

Christmas Eve Eve

I can relate, Turd.  I'm convinced it's a diabolical conspiracy: Totally ambush you on Christmas morning (in violation of the truce) and fall back into a strong defensive position.......making sure you don't get any on Christmas night!  At that point, your only move is to double her day-after-Christmas-sale allowance and hope for something sweet.  They are masters at leveraging a tie, a couple pairs of socks and a barbeque mitt to a resounding victory.  Kind of like Dingy Harry & Obummer did to Boehner. (He got screwed, too.)

Roll the dice and go for broke, Turd............buy lingerie!

Shill's picture

Edit: I just re-read the

Edit: I just re-read the article. 14" in diameter and 12lbs. makes me think it could still contain liquid though I doubt it. The weight could be hardware inside. These tanks can contain hypergolic fuels like hydrazine which will kill you graveyard dead. Best not to screw with one if found.

Oh know its a Terrorist attack...( Blame Iran )

Economical Disaster's picture

One Must Prepare For The End of the WORLD..

We have become a nation of media induced materialistic, frenzied, credit card DEABEAT LOSERS..

SEATTLE - The release of Nike's new Air Jordan basketball shoes caused a frenzy at stores across the nation early Friday, with police using pepper spray on a group of rowdy customers near Seattle and officers arresting some shoppers after a crowd broke down a door in suburban Atlanta.

A group of about 20 people were sprayed after getting into fights at the Westfield Southcenter mall in suburban Seattle, Tukwila Officer Mike Murphy said.

The crowd started gathering around midnight at four stores in the mall and had grown to more than 1,000 by 4 a.m., when the stores opened, Murphy said.

"Around 3 (a.m.) there started to be some fighting and pushing among the customers," he said. "Around 4, it started to get pretty unruly and officers sprayed pepper spray on a few people who were fighting, and that seemed to do the trick to break them up."

Art Lomax's picture

MFG News

Senators to AG Holder - use every resource available.

http://www.btrtrading.com/Press/Letter_DOJ_Baccus.htm

Drifter's picture

Exactly

dammit

Your spouse or "significant other" tells you something like "let's not spend money on each other this year". Let's just get "one or or two small presents" and spend money on other stuff, instead. Then you wake up on 12/23 and find all sorts of presents with your name on them under the tree and realize that, instead of relaxing, you'd better get your arse back to the mall...fast!

tpbeta's picture

The metal ball

Looks like a Russian space ship's helium tank, if you ask me

http://fernlea.tripod.com/tank.html

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