How 'Bout Some Charts?

Tuesday, January 3, 2012 at 5:52 pm

The first trading day of the year certainly brought about some powerful rallies. As we've discussed in the past, trend changes can often be spotted in hindsight by looking for days where powerful, surprising rallies developed. Was today such a day? Only time will tell.

There's certainly a lot of interesting stuff going on. Let's try to take things one-by-one. First up, of course, is gold. As we've discussed since September, there has always been a possibility that gold could fall all the way down to its primary trendline. I had always drawn and speculated that that line was around 1550 or so. Well, after the close of last week and last month, take a look at this monthly chart. In the immortal words of W, "mission accomplished".

Again, a close inspection of this chart shows that gold tends to hug the lower line for a while once it reaches there. It has happened several times in the past three years. However, I fully expect this line to hold going forward so there would seem to be minimal downside risk at this point.

When we look at the shorter term charts, a couple of levels jump off the page. First of all, in the very short term, gold is likely overbought and subject to a decline tomorrow. 1605 will likely act as resistance and then 1585 or so will need to act as support. If support holds and then 1605 falls, gold will make a run to 1620 and then 1640 before pausing. Once those levels are bested, gold can begin to set its sights on the black line found on the daily chart. Once gold rises to that line, The Battle Royale will begin. Ideally, by later this month, gold will reach the line and trade up through it. It will then ride the line lower for a few hours/days and then skip away higher. At that point, I will get extremely bullish as gold will be headed to 1800 and then back to its old highs from September.

OK, now let's look at silver. Like gold, let's begin by looking at the monthly chart. Again, I've stated since September that the potential existed for silver to fall all the way back to the primary trendline. Back in September, the line was near $24. Today, it looks to be right at $25. Of course, the lows of last week could be the bottom. However, I have to think there is still a strong possibility that silver will make one, last push lower to touch this line. Time will tell. We'll keep watching the shorter term charts for clues.

Speaking of the shorter term charts, take a look at these two. First up, look at the hourly chart. Clearly $30 is an important level and one which the EE has tried to protect. Then, check out the daily chart and you really begin to get a sense as to why $30 is so important. IF silver can get convincingly above there, it will take out the downtrend line from the highs of early September. This would be a very important first step in the recovery/rally of the paper price. It may happen. I hope it does. However, I'm not convinced that the EE is ready for it to happen yet so do not be surprised if silver fails near 30 and slips lower. Let's watch this closely.

This would be a good spot to discuss some silver fundos. As I mentioned in yesterday's video, the latest silver CoT numbers are very intriguing. At the height of the silver rally back in May, the spec long position in silver exceeded 45,000 contracts. Today, that number has been nearly cut in half to about 24,000. In contrast, the bank long position in May was around 36,000 contracts. Today that number stands near 41,000! Clearly, these are extremely bullish statistics and exactly what I would be looking for, from a CoT perspective, at an important bottom. These numbers don't mean we are at the bottom but they do indicate that we are very close.

Now let's turn our attention to our old friend, Pigatha Christie. Take a look at this chart and have a laugh. Note that the POSX is almost exactly where it was a year ago. In fact, almost exactly a year ago, on the old blog I wrote about how the coming decline in The Pig would impact PM prices. It's a must read if anything to see how little some things have changed in a year, though certainly lots of volatility in between.

http://tfmetalsreport.blogspot.com/2011/01/dollar-shitcan.html

At any rate, the dollar looks to be topping again in the area around 80-81. If Q1 2012 plays out like Q1 2011, we'll certainly be in for another fun ride in the PMs.

We probably should take a look at crude, too. Note a couple of important things.

Crude is at it's own "moment of truth". If it can move through 104, it will almost certainly move toward 115.
Note how similar the crude chart is to the silver chart. Similar, that is, until early October. At some point, they will re-sync. The question is: will crude trade down to silver or will silver trade up to crude?

Finally, I suppose we should check the chart of the HUI. Before we do, however, I now have to post this link. I can't type "HUI" without thinking of this song as it sounds to me that the lyric actually says "HUI". (Frankly, it's just a gratuitous reason to post a video of Carrie Underwood. Mmmm.)

OK, back to business. Here's your chart. Note that the index stopped right near its bottom target of 480 last week. That should be it. Let's hope so because any drop through 480 and we'll have to look for 450 or even 400. The poor miner holders are already suicidal. A 400 HUI might push them over the edge.

Lastly, several folks have emailed me asking how I can be so confident that the PAGE will still open and begin trading physical gold contracts sometime soon. Let me just remind you that I do have several pretty solid contacts in that area: http://www.tfmetalsreport.com/blog/2363/more-page All of the hubbub last week about China closing exchanges had to do with non-governmental exchanges. The PAGE will be a government-managed and endorsed exchange. Of course there may still be delays but I'm confident that PAGE remains on track to open for trading sometime very soon.

OK, that's all for now. I have to take LT#2 to her Tae Kwon Do lesson. I hope you all have a great overnight. Let's see what happens. Tomorrow should be a rather interesting day.

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Come on Ron Paul!

Submitted by Tyler on January 3, 2012 - 5:54pm.

sorry I had to

STACK!

Submitted by SilverHawk on January 3, 2012 - 5:55pm.

Just do it... stack 'em up!!!!

Second. . .

Submitted by Boardwalk on January 3, 2012 - 5:56pm.

.. . . time I've been Thurd in as many days. Wooo Hooo!

The dollar is set for a reversal you say?!

A New Global Economic Restructuring

Submitted by cpnscarlet on January 3, 2012 - 6:02pm.

Yawn. Nothing actionable in that video (last thread). I wouldn't say it has a religious base, but a spiritual one. PROBLEM IS...there are good spirits (angels) and evil spirits (demons). Don't know anything about this 'Theo Group", so maybe I'll do some research.

Could be something great, but the skeptic in me says 1) Hot Air, or 2) Get a ringside seat to see the Antichrist performing some "miracle" to save the planet so we make him our great leader. I'm betting on #1.

Cheers Turd

Submitted by sixdollarsilver on January 3, 2012 - 6:03pm.

Choice chart work.

Movement is....

Submitted by Be Prepared on January 3, 2012 - 6:07pm.

a temporary state of being.

Turd, Thanks for the Great Charts.... I know that it takes a great amount of work and effort to put it together for us.

I say "Movement is Temporary" because we are in a Year where many of the Rules that have previously defined our Government and our Civilization have been suspended, obliterated and positively ignored. It's critical to remember that as we scan the horizon of the Precious Metals market. T.A. is ultimately tied to the group dynamic of human behavior and its accuracy, somewhat, can be further correlated to its ability to understand a predictive outcome of whether the crowd is moving into the stadium or rushing out of the stadium....based upon events of similar duration and impact. Oversimplified... I know...

My point is that I think we are at a point where most of our compasses are going to start to diverge from true north because it doesn't exist anymore. MFiing Global exploding, Larger National Debt than GDP, NDAA...... all these type of events haven't happened in a similar vein for over 2 generations and they are colliding into each other in unexpected ways, so the North Magnetic Pole's strength has faded. So what ever "Movement" Up or Down will not have an identifiable path beyond the short term horizon. I think we can all understand the "Long" term horizon for Precious Metals, but its that time in-between and that duration in-between the "short" and "long" that will skin us alive if we are not prudent to understanding...."There are no rules....except There are no rules!"

Don't start this year believing that all of what you have know last year is a basis to guide you through this year. Take your experiences and your plan and move forward....but the path less travelled is still more rocky ahead!

OT: sorry...but I need a little clarification...if you please..

Submitted by clueless one on January 3, 2012 - 6:13pm.

but 1st...THANKS, TF/Mods...for everything you do, everything you say...and for standing up for the Joe Schmo's of the world. Much love, guys.

so..

a ZH comment linked an article regarding BofA and them calling in loans on small businesses. Basically, pay up...no more payments.

I'm not with them, but I've got a mortgage and two smaller loans right now with a pretty big bank, thankfully zero credit card debt. Although my bank is never mentioned in this whole mess of leverage and such...not sayin' they're clean, but at least they've not made ZH as of yet...

Is this where we're headed??? Wifey absolutely will not sell the house and rent, still have equity believe it or not, and will not have her comfort zone infringed upon in any way. At least not by my doing....I'll bet she'll get a wake up call eventually...so I just sit back and deal with it the best I can to keep things civil.

I'm all ears on opinions...this kinda bugs me a bit. Cuz' there ain't no way in this world that I've got coin to pay it off if they come callin'...

por favor..?

thx.

Thanks Turd

Submitted by Brotha Bob on January 3, 2012 - 6:13pm.

thanks Turd. Wow what a day. Sunshine and applesauce!

I guess the y/e tape painting did not work to well.

This weeks CoT report shall be interesting, since it will cover the drop and bounce. Curious to see net change in the banks dirty shorts, if any. They sold last week. Maybe buying this week? Just a thought.

"Needing help"

Submitted by beardeus on January 3, 2012 - 6:14pm.

Just reposting this from last thread. Please ignore if you shared your wisdom with me, us, earlier. Thanks!

"Hey guys. I am wanting to invest in some mining stocks, 2-3. I am a small timer and would actually be selling a small, small, percentage of my stack. I think the profits will be amazing in the miners. Especially the junior miners. I have heard this time and time again " Rick Rule - How to Make 50 to 100 Times Your Money in 2012" (http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/1/3_Ric...) and I don't want to miss it. We've already seen some real winners (Arian went from $6 to $60).

I was wondering if anyone had a list of a few, tickers, with a relatively low price per share. Mainly stocks under $10. Please only list companies that are ACTUALLY mining and are listed on the bigger exchanges.

Considerables so far:

ASM

GPL

SVM

Thanks."

Vote Ron Paul!

Thanks for the update

Submitted by Shill on January 3, 2012 - 6:17pm.

Thanks for the update Turd.

Not in the mood for the Internet today so I just relaxed and watched.. PM's looked great as did most commodities, market wise, well I am not buying it. Show me a move up over 2% in the 10 year T then I might consider entering a strong position other than that it looks like the same old same old to me.

TTYL.....

Just Looked - Didn't take too long

Submitted by cpnscarlet on January 3, 2012 - 6:18pm.

THEO GROUP - A bunch under a leader couple "channeling" 12 archangels.

Therefore - HOGWASH. Either morally (bunch of charlatans) or spiritually (they're being duped by demons). I vote for the former.

Part of me wishes I had a big lack of ethics like these people so I could take a bunch of rubes for a ride and make an easy buck too.

If anything they are saying comes to pass, time to head for the hills.

Rick Santorum's nephew endorses Ron Paul

Submitted by Tyler on January 3, 2012 - 6:18pm.

http://dailycaller.com/2012/01/03/the-trouble-with-my-uncle-rick-santorum/

No more QE?

Submitted by Turd Ferguson on January 3, 2012 - 6:24pm.

MODERATOR

rrright.....

http://www.zerohedge.com/news/global-bond-issuance-top-staggering-8-trillion-2012

Loan Issues

Submitted by Sneed Hearn on January 3, 2012 - 6:28pm.

@clueless one Loans that have not matured (i.e. come due) or are not in default generally may not be accelerated. A mortgage is a good example of that if it is a fixed term, 15 or 30 years. So long as you make the payments you should be fine. A maturing business loan is a different matter entirely as the bank has no obligation to renew it. You may have been rolling it on maturity for years but the bank has no obligation to keep on doing so unless a loan agreement or the like requires that.

Thanks...

Submitted by IndigoStar7 on January 3, 2012 - 6:29pm.

...for the update/charts.

The wild card in the POSX (and mostly everything else) would be any naval skirmish or conflict if one should unfortunately happen over in the Strait or elsewhere. We might hit 85 before we see 75 if that happens.

http://www.tfmetalsreport.com/comment/111237#comment-111237

http://debka.com/article/21615/

Stack up the physical. Don't

Submitted by Dr G on January 3, 2012 - 6:35pm.

Stack up the physical. Don't worry about the prices too much, it's always a great time to buy if you can spare the cash.

Speaking of which, I'm hoping to make a little extra physical money myself with the Iowa caucus. Just bought shares on intrade that Paul would win the caucus. Could make some nice coin and roll that into silver if it happens. Fingers crossed!

@ Sneed Hearn

Submitted by clueless one on January 3, 2012 - 6:37pm.

Thanks for the clarification!!!

Interesting

Submitted by arcticfox on January 3, 2012 - 6:37pm.

Gold has long been touted as one of the most reliable investments out there, and lately many investors have been buying it as if positive returns on the metal were guaranteed. However, all that could change in 2012 if the Chinese government gets its way. According to GFMS, a global economic consulting firm specializing in precious metals, the Chinese market absorbed around 22 million ounces of gold in 2011, meaning that it took between 30 and 35 percent of all newly-mined gold off the market[1]. While this might mean good things for value in terms of scarcity of the metal, the long-term effects are slightly harder to predict. To further complicate things, a London trader who has a history of accurate-but-difficult-to-confirm predictions recently reported that the Chinese government is attempting to reach contract agreements with multiple gold mining companies to buy all of their gold output on a long-term basis. The report has not been confirmed, but if it is true and the Chinese government succeeds in this effort, it will have a detrimental effect on global gold markets, which are heavily leveraged and have only a small fraction of the amount of gold necessary "to meet the contractual obligations of existing contracts." Should the availability of newly-mined gold go down, gold markets like COMEX would likely have to close out many short positions and dramatically reduce sales volumes on paper contracts for gold. The result would certainly be higher gold prices, but it could also result in "outright debt default of one or more…national governments," bank failures, inflation and possibly even seizure or shutdown of major global market operations, warn analysts.

http://realestate.bryanellis.com/5856/market-news-chinese-moves-in-gold-...

All for Ron Paul if he can get the nomination !

Submitted by Monedas on January 3, 2012 - 6:38pm.

Against disloyal family members going chicken shit public....like Reagan's kids, etc. ! No Turd Party vote for me ! If you can't win the nomination.....man up and man down ! Shill, unto thy own self don't be a shill ! Buy, buy, birdie, buy, buy ! Hoarders havin' fun "Tue" day ! I can be silly and giddy if I want too ! Yayayayeyeyeohohohnananalalalalololodadadahohoho ! Sing along with.... Monedas 2012 Comedy Jihad Gratitude From The Strong Rich Hands Cartel ! Thanks For Throwin' In The Towell ! PSA: http://trololololololololololo.com/

@ Dr. G

Submitted by beardeus on January 3, 2012 - 6:42pm.

Why don't you buy these?

Ron Paul to be Republican Presidential Nominee in 2012

Last prediction was: $0.41 / share

Today's Change:

+$0.08 (+28.1%)

A win in Iowa would mean a HUGE percentage increase and even if he places second, this should still be up substantially.

Edit: Hmmm... I haven't researched Intrade much. No liquidity. No shares.

I hear the "Tom Tom" of the War Drums, but...

Submitted by Be Prepared on January 3, 2012 - 6:43pm.

I am skeptical as to the motives. It's obvious OBummer has been positioning his administration into a showdown with Iran, but I am tired of "Dear Leader" putting my brothers and sisters in harms way for the purpose of bolstering his chances for a 2nd term. Finalizing extreme sanctions against Iran is leaving them boxed in a corner with very little way out...other than to retaliate..... This is not a great situation for anyone right now, except for Haliburton and their next $8 billion no-bid contract.

It might be a good time to be long Oil.....

What a measly trillion dollars looks like (repost, sorry)

Submitted by Mudsharkbytes on January 3, 2012 - 6:43pm.

I don't usually do this but since it seems a new thread was started as soon as I posted this -

This is from:

http://www.pagetutor.com/trillion/index.html

Using $100 bills:

$100

In $10,000 packets:

$10,000

One million:

$1,000,000 (one million dollars)

One hundred million (fits nicely on a pallet):

$100,000,000 (one hundred million dollars)

One billion:

$1,000,000,000 (one billion dollars)

One trillion:

$1,000,000,000,000 (one trillion dollars)

Note that the pallets in the above are DOUBLE STACKED!

Volumes

Submitted by Ircsum on January 3, 2012 - 6:45pm.

Thanks for the charts & analysis, Turd. Great to see the rally in the metals today but the volume in both gold & silver is at the same piss-poor level as the previous 6 sessions, so I hope we're not premature in breathing sighs of relief.

JAN 2012 SILVER EAGLE SALES....3,197,000

Submitted by SRSrocco on January 3, 2012 - 6:46pm.

SILVER EAGLE SALE UPDATE

Well, it looks like the US MINT dropped all its last week DEC 2011 sales on JAN 2012. They just updated their figures just a few minutes ago and here is what it looks like:

So the US MINT decided not to add anymore sales to DEC 2011 to make an even 40 million. But, 2012 looks like a good start with 3.2 million already in the first few days of Jan.

I am taking charts with a grain of salt

Submitted by Patrancus on January 3, 2012 - 6:49pm.

I am taking charts with a grain of salt in 2012 for no other reasons than the dastardly manipulations of TPTB and I am trying to not lose focus on regular systematic accumulation of physical. By spending my time reviewing this chart or that chart, it tends to cause uncertainty and delay on my part in deciding if the time is right to buy, when in all actuality for this particular time and place in the annals of American human history, the time to buy all the time has never been more apparent, and timely. Hang the charts and stack.

steveo here, newby from

Submitted by steveo on January 3, 2012 - 6:50pm.

steveo here, newby from December, glad to find this site.

I focus on copper, gold, and my specialty, copper priced in gold. But also Forex, since this ALL is really about currency wars, competitive devaluation, and ES and TF futures.

Here is my opening view on things. Waiting to get big long, was mostly flat over the New Years except for a handful of options.

http://oahutrading.blogspot.com/2012/01/2012-back-in-saddle.html

Welcome STEVEO....

Submitted by SRSrocco on January 3, 2012 - 6:53pm.

Sounds like you got a good grasp on things.... do you own any PHYSICAL Gold or Silver?

Just TRY to keep from upchucking your dinner

Submitted by Mudsharkbytes on January 3, 2012 - 6:54pm.

after reading this piece of UNSIGNED garbage:

http://www.nydailynews.com/opinion/conspiracy-theorist-ron-paul-unfit-pr...

Welcome as well... Steveo

Submitted by Be Prepared on January 3, 2012 - 6:55pm.

Big shout out for our newest Turdite, Steveo!

@SRSrocco - They robbed us...

Submitted by Be Prepared on January 3, 2012 - 6:58pm.

of our 40 million prediction just to move those sales to January 2012. The EE couldn't show a banner year and break the big 40....it wouldn't look good for "Dear Leader" and our "FRN" paper. :-)

Wow, been gone all day, get

Submitted by Eric Original on January 3, 2012 - 7:10pm.

Wow, been gone all day, get back, and find my ears are burning! Here's the deal on miner threads:

Mine focuses mostly on small to mid sized producers, but with plenty of chat about explorers as well. BOG's focuses exclusively on the pennies. Both of these threads are largely based on fundamental analysis. T's thread takes a technical approach, but does look at both the large and the small. mouser's thread and Gwyde's thread are good as well for the pennies. Those are the main ones. Most of the others are threads that are dedicated to one specific stock.

Hey nothing like a 5% up day to start the year to get everyone talking miners! I kind of thought that reports of their deaths were greatly exaggerated.

EDIT: And we all tend to frequent each others miner threads as well. It's not a competition. We're all on the same team.

Hey steveo...

Submitted by IndigoStar7 on January 3, 2012 - 7:13pm.

Welcome aboard!

If that was your first post, congrats! Thanks for the link to the charts.

Euro Ripe for Short Squeeze

Submitted by TheSilverJournal.com on January 3, 2012 - 7:14pm.

Since either Spain or Italy going bust will bring down the world’s monetary system, neither will be allowed to default. The reason the Euro is getting hammered is because of the fear of a Euro break up and not because of the Euro printing. When the Euro makes it clear that Spain and Italy will be protected from default, the Euro will rise.

At the same time, hedge funds have record bets against the Euro, setting up a scene for a short squeeze. According to the FT, “the number of short positions in the Euro – where investors benefit from a declie in prices – outweighed long positions by a record 127,900 contracts by December 27, up from 113,700 contracts the previous week. The value of the contracts is not disclosed.”

TheSilverJournal.com

OUR CURRENT SITUATION

Submitted by boatman on January 3, 2012 - 7:18pm.

i can't help thinking we are in a PERCIEVED deflationary trend [nevermind my brand of beer up 30% in 3 years---OH THATS RIGHT the CPI is 40% 'equivalent rents'---A BUNCH OF DEFLATED AFTER BEING INFLATED HOUSES.......something everyone buys daily.....hey-ooo] til EU blows up n prints or just prints n ben is forced by a 9400 dow to do the same.

i do not see how we do not see 1450 gold in feburary.

i look for major bear raid after a jan 25 FOMC ben presser saying no qe.

after all the guff he got for qe2 he will make them beg for it....they will n so he will.

BUT I WILL TAKE OUR LEADER'S HOPE AND POSITION SHOULD IT HAPPEN!!!!

hmmmmm....i guess we can't use 'dear leader'.....

exalted leader?.....naaa.......fearless leader?..........i think he was in rocky n bullwinkle

i need some help on this.

somebody help.

What a trillion really, really looks like...

Submitted by Hondo on January 3, 2012 - 7:30pm.

Is the pic in Mudshark's from above but realize each stack is interconnecting inflatables filled with hot empty air. You know the inflatables like the Christmas ones everyone just put back in the attic.

Crude oil Bull flag

Submitted by apex101 on January 3, 2012 - 7:45pm.

Also note the bull flag on crude with it beginning at 75$ or so could sent it up higher past 135$ if the 103 level gives away convincing.

Silver Chart

Submitted by Bagholder on January 3, 2012 - 7:53pm.

The long term Silver chart (like Gold) looks very Bullish to me. However it seems logical Silver should Go back to 20-21 area to test the breakout from 18 months ago, no? Of course, it doesn't have to go down that far, but if you give credence to charts - then it must be considered. With rotten sentiment now, a trip down there could turn sentiment from rotten to abysmal. Experienced players in the metals market are fully aware abysmal sentiment is one of the primary ingredients required to power a market higher quickly. While fundamentals may guide the price, its sentiment (fear & greed) which drives the price day to day.

As for commodity markets in general, there is one thing - far more important - than sentiment, fundamentals, or the chart. That one thing is Structure. In commodity markets, nothing else even rates. Thats right, the only thing that matters is who is on which side of the trade. Align yourself with the people in the know - and growing wealth becomes easy. Viewing the Silver market in this light, you must ask - who are the biggest players & what are they doing. As disturbing as it may be, JP is one of those players. Understanding the diabolical genius of their short position helps to more accurately context their recent behavior. Make no mistake, Bankers are getting more LONG & less SHORT. That fact there is all you need to know :)

@Beardeus what Arian went

Submitted by TheGoodDoctor on January 3, 2012 - 7:53pm.

@Beardeus what Arian went from $6 to $60?

@Beardeus, I just might

Submitted by Dr G on January 3, 2012 - 7:57pm.

@Beardeus, I just might purchase those intrade "shares" you mentioned. You are correct that they could be sold for premium prior to the prediction outcome, and I don't think liquidity would be a problem at this stage in the game.

Do you know who's watching you?

Submitted by IndigoStar7 on January 3, 2012 - 8:00pm.

Requested an IRA "distribution" today

Submitted by Fred Hayek on January 3, 2012 - 8:15pm.

I requested an IRA "distribution" today from my precious metals IRA. I'm taking as much as I can deal with the tax implications of receiving. Who knows if the rest will be there for me to get once the flight from paper to physical reaches the tipping point and starts cascading.

Still see one more swoosh down coming

Submitted by BoblovesHawaii on January 3, 2012 - 8:19pm.

My thoughts on SPY

http://arum-geld-gold.blogspot.com/2012/01/spy-where-to-now.html

OK, so keeping terrorists in

Submitted by Smiddywesson on January 3, 2012 - 8:42pm.

OK, so keeping terrorists in jail indefinitely is SO important that we have to pass a law allowing the USA to keep their own citizens in jail indefinitely, without trial. But, we let the Taliban out???????????????? So, these jails will be filled with Americans?

Taliban leaders held at Guantánamo Bay to be released in peace talks deal

US agrees in principle to releasing top officials from Afghanistan insurgent group in exchange for starting process of negotiations

Honestly, I give up!

NDAA

Submitted by murphy on January 3, 2012 - 8:51pm.

Received from my congressman. What the hell is he talking about? Does he read the bill different from the way we read it?

Murphy

Dear Mr. Murphy,

Thank you for taking the time to contact me regarding provisions in the National Defense Authorization Act for Fiscal Year 2012, H.R. 1540. I appreciate you taking the time to let me know this issue is important to you.

As you may know, Congressman Howard McKeon of California introduced H.R. 1540 on April 14, 2011. This measure will authorize appropriations for fiscal year 2012 for military activities of the Department of Defense, for military construction, and for defense activities of the Department of Energy and prescribe military personnel strengths for such fiscal year. In your email you mentioned that the bill will allow the military to detain a United States citizen suspected of terrorist activities for an unspecified amount of time. This piece of legislation specifically states that the bill does not authorize the detention of a U.S. citizen, lawful resident aliens of the U.S. or any other persons who are captured or arrested in the United States. I hope this information is helpful.

As you may also know, H.R. 1540 passed the House by a vote of 283 to 136 on December 14, 2011. The measure then passed the Senate on December 15, 2011 by a vote of 86 to 13 and was signed into law by President Obama on December 31, 2011.

Again, thank you for taking the time to contact me. Should you have any further questions or concerns, please do not hesitate in contacting me again. I remain

Very truly yours,

Republocrat,

Member of Congress

IMF Speech

Submitted by Smiddywesson on January 3, 2012 - 9:00pm.

Hate to bring this up again, but I posted towards the end of the last thread, and there was a very important speech given by the chief economist of the IMF, Olivier Blanchard summarizing 2011.

http://blog-imfdirect.imf.org/

For brevity sake, I won't go into it again, but he actually admits we are going under unless political leaders do everything completely right, and we continue to pump liquidity into the system. Inasmuch as debt is the central issue of the speech, and kicking the can creates more debt, he's basically saying if some miracle happens, we would have to kick the can for 20 years to dig our way out of this. If the obvious happens, he concludes the speech by saying he doesn't want to even consider the adverse repercussions.

After implying how improbable it would be to pull this off, he very carefully ignored the alternative to just devalue all currencies against the SDR, and to tie the SDR to gold. The D word is taboo.

When economists try to retain some credibility by intimating it won't work, the collapse is near. When a banking initiative is denied, even tacitly, we are getting close.

Murphy

Submitted by Tyler on January 3, 2012 - 9:02pm.

I believe the bill originally did not allow for detainment of US citizens, but then the White House requested that language be added. I think it was passed with the added language allow for detainment.

DPH...Inquiring minds want to know!!!...

Submitted by BagOfGold on January 3, 2012 - 9:05pm.

Thank You for reminding me why "Eye" have never...& will never join/or use applications from any of these institutions...Facebook (or any other social sites)...& Google!...Also I am very selective about which websites I join/are required to log into...& I can count them all on one hand!...How does anyone keep their privacy guarded from inquiring minds?...On the internet...use firewalls...script blockers...ad blockers...cookie cutters...spam blockers...anti spyware & anti virus security..."throw away" email addresses...anonymous surfing etc...Be aware of products which utilize tracking systems...the biggies are cell phones...& vehicles!...There are many ways to maintain privacy...& these are just a few!...I'm sure many Turdites have lots more to add...& perhaps we can start a list!...Let's see what we come up with...& as Turd says...in order to make a difference in this world...we must start here first!!!...

Bag Of Gold

Brad Meltzers Decoded -- Ft Knox - No Gold

Submitted by Slick on January 3, 2012 - 9:07pm.

on right now History ch. Canada.

surely this Brad M. 's show has been adulterated and compromised by the agents of disinfo yet it still may prove to be mildly amusing

The Obvious Is Obviously Wrong

Submitted by vamoose1 on January 3, 2012 - 9:19pm.

Thats from Joe Granville in about 79, jesus im old, Joe wrote a newsletter then, maybe still does , only person i ever saw do this act, he just owned the stock market, uncanny, , the guy walked on water, wildly eccentric, but, for 3 or 4 years downright spooky, then mummy nature intervened, the streak ended possibly too much of a good thing, and the door closed. But it was some ride. He made us a lot of money in a dodgy market.

We find ourselves today in quite a state of affairs, only the criminally obtuse could try to deny that the PM markets, along with the related stocks, are comically manipulated, with the full cooperation of the regulators, , that JPM and GS take money, in the form of actionable inside information, and are de facto agents of a Fed/ Us Government that can hardly be seen to be doing it themselves. Its a quiet arrangement.

Be assured that this pus exuding supporating cabal think they are patriots, acting in the best interests of their Country, because if faith in the integrity of this goofy ersatz currency ever gets shaken, then we can no longer borrow at ZIRP , we can no longer print, we cease to be the world's reserve currency, and 330 million Americans meet Mad Max.

Its so thoroughly and completely over, I actually see their argument. I don't agree with it, but I do see it, and were i they , some Washington apparatchik, looking foursquare at an irretrievable endgame, Jesus, I might even do it.I like to hope i wouldn,t.

So those charming Paul Revere shoutouts, JPM and GS take their orders, trade on sensitive inside information for payment , keep these menacing PM markets quiescent, confusing and wrongfooted to the point of utter exasperation, and they move that poison paper like clockwork, every ten days another hundred billion, nothing here ossifer, and i guess it continues until it stops.

50 million Americans on food stamps (i know its 46 but they lie) suggests we may be drawing close to rowing the 5th Navy back from the Straits of Hormuz. All together now!!

One in four American children are on food stamps. This rocks my world. Full disclosure, not an American, a neighbour, and a pretty fucking good one. Thanks for protecting us as you manifestly did since 1945. Thank you sincerely. We like you, a bit brash n pushy if you must know, we like to carp and complain under that handy umbrella, well thats why they are athwart the world, for now. For now, ..one failed auction from the stone age.

But i started this intending to be chipper, so back to business, silver is going straight line to a hundred and then higher, yes i know we need to base build here, i know we kicked the piss out of the silver chart. Chris Powell at gata stated it succinctly 'there are no more markets, there are only manipulations".

In 1980 we had 11 billion ounces of silver aboveground whatever the fuck that means, does it include Indian brides IUDs, but whatever, its down 92 percent in the ensuing 32years, to a purported one billion when back then the only size use was kodak and grannys forks , now replaced by about ten thousand nascent industriaa applications, on all 7 continents.

Unrecoverable, if you care to suck an antibiotic bandaid, live it up and hop over to your local landfill with a box of toothpicks. Forget it its gone, maybe Newt Gingrich will go spelunking at 790 dollars an ounce. Maybe Boeing will when their Dreamliner devolves into a wet dream. Or Apple when its sauce without it.

So just for fun, a radical proposition, Silver goes vertical right now , right here, forget conventional thinking, pitch common sense, because nobody seems to appreciate how cheap 27 or 29 2012 dollars actually is.

The Chinese LOVE to gamble, probably their overcircumscribed childhoods, that suffocating culture, that impossibly complex language, little pictures and symbols, good lord be in no doubt why they are so fucking smart, except they eat with sticks, and philistines that we are, we did manage to figure out a fork.

That may be a rather phyrric victory, when we are taking in their laundry. :)

The SILVER IS GONE, in any tangible quantities, ITS GONE. The new worlds reserve currency is the what?? the yuan vamoose, does it leave me warm n fuzzy, nor do their sheets.

Conclusion.

Silver is going straight up. Its a rare earth METAL, its strategically and militarily vital. Its about to go no offer.

The correct Policy response of the United States would be to viciously slag it in a massive PR campaign, make it very clear that its a grey piece of shit that has nothing to do with numismatics its for i pads or menstrual pads whatever, carve it out, BEFORE IT CARVES THE UNITED STATES anew one.

Fight the losing battle IF YOU MUST AS YOU DO, with Gold, we are told you have some..................... do ya? Get silver out of the game, or it will tAKE YOU DOWN, shockingly and suddenly ... FAR BETTER TO RAM IT TO 500, make those covetous chinamen pay for silver what they make us pay for rare earths

Otherwise, the Fifth Navy, stroke.......stroke,..... stroke, its quite a voyage...

from another forum re: NDAA

Submitted by Drifter on January 3, 2012 - 9:20pm.

bottom line, section (e) completely contradicts all the hyperbole heard across the internetz

now tear it apart boys

I found the bill that was signed into law. It appears to be a non-issue.
... =h112-1540

History of bill: Number 7 is the one passed and fixed the detention of US citizens problem

http://thomas.loc.gov/cgi-bin/query/z?c112:h1540:

SEC. 1021. AFFIRMATION OF AUTHORITY OF THE ARMED FORCES OF
THE UNITED STATES TO DETAIN COVERED PERSONS
PURSUANT TO THE AUTHORIZATION FOR USE OF MILI-
TARY FORCE.
(a) IN GENERAL.—Congress affirms that the authority of the
President to use all necessary and appropriate force pursuant to
the Authorization for Use of Military Force (Public Law 107–40;
50 U.S.C. 1541 note) includes the authority for the Armed Forces
of the United States to detain covered persons (as defined in sub-
section (b)) pending disposition under the law of war.
(b) COVERED PERSONS.—A covered person under this section
is any person as follows:
(1) A person who planned, authorized, committed, or aided
the terrorist attacks that occurred on September 11, 2001,
or harbored those responsible for those attacks.
(2) A person who was a part of or substantially supported
al-Qaeda, the Taliban, or associated forces that are engaged
in hostilities against the United States or its coalition partners,
including any person who has committed a belligerent act or
has directly supported such hostilities in aid of such enemy
forces.
(c) DISPOSITION UNDER LAW OF WAR.—The disposition of a
person under the law of war as described in subsection (a) may
include the following:
(1) Detention under the law of war without trial until
the end of the hostilities authorized by the Authorization for
Use of Military Force.
(2) Trial under chapter 47A of title 10, United States
Code (as amended by the Military Commissions Act of 2009
(title XVIII of Public Law 111–84)).
(3) Transfer for trial by an alternative court or competent
tribunal having lawful jurisdiction.
(4) Transfer to the custody or control of the person’s country
of origin, any other foreign country, or any other foreign entity.
(d) CONSTRUCTION.—Nothing in this section is intended to limit
or expand the authority of the President or the scope of the
Authorization for Use of Military Force.
(e) AUTHORITIES.—Nothing in this section shall be construed
to affect existing law or authorities relating to the detention of
United States citizens, lawful resident aliens of the United States,
or any other persons who are captured or arrested in the United
States.
(f) REQUIREMENT FOR BRIEFINGS OF CONGRESS.—The Secretary
of Defense shall regularly brief Congress regarding the application
of the authority described in this section, including the organiza-
tions, entities, and individuals considered to be ‘‘covered persons’’
for purposes of subsection (b)(2).