Other Technical Indicators

Tuesday, January 10, 2012 at 7:50 pm

As you know, I like to poke fun sometimes at the chartists and the elliotts for relying so heavily upon their squiggly lines that they fail to see the forest from the trees. At the risk of seeming hypocritical, I thought I'd show you some charts that include those squiggly lines this evening as I continue my search for tradable bottoms.

Before we begin, a recap of today and a repost of the charts I included as an update to the earlier blog. To simply summarize, yes today was great. Both metals broke free of their recent downtrends and looked good doing it. However, keep in mind that today was a Tuesday and "Happy Tuesday" often results from The Cartel covering some shorts in an effort to "paint" the CoT survey that took place after the close this afternoon. Because of this, do not be surprised to see the metals give back some of today's gains tomorrow. Additionally, let's be sure to check the OI numbers from today when they are released tomorrow. If new money was driving today's gains, we will see a nice increase in OI. If today was primarily a Cartel short-covering event, the OI will be relatively flat. Regardless, the gains in price are real and both metals suddenly have a much improved technical picture. Let's see what the rest of the week brings. To really get me excited, silver needs to close above $30.50. Gold needs to first close above $1650. Then it needs to break the downtrend line from the highs of September. That line is currently near $1680.

OK, now let's look at two, other technical indicators as we search for a bottom. First, a disclaimer:

Look, we all know that the metals are blatantly and selfishly manipulated by The Cartel. In fact, my ability to accurately forecast price is primarily due to my understanding of this manipulation. However, as you know, the major spec money in the pits is driven primarily by HFT algos and technical indicators are some of the primary factors that cause the algos to switch from buy to sell and vice versa. So, technical analysis indicators are occasionally quite helpful in that, in the closed-loop of single market trading, if all participants are looking at the same information, price forecasting almost becomes a self-fulfilling prophecy.

So, here we go. Let's look at two of the major indicators and see if they are telling us anything. First up,

MACD

Definition: http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:moving_average_conve

Now look at these pretty charts. The blue line is the one you want to watch. Note that the blue line often bottoms shortly after price bottoms OR tops shortly after price tops. What you are looking for are price trend changes that are signaled by the blue line crossing over the red line. Look closely. Maybe print these off yourself. Notice that, recently, the blue line crossed UP through the red line in both gold and silver. This is good news!

And the other technical indicator we need to review is the...

RSI

Definition: http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:relative_strength_index_rsi

The RSI only gives you only line to follow. When the line reaches way up over 70, the commodity is generally considered to be "overbought" and subject to a decline. Conversely, when the line is down near 30, the commodity is considered to be "oversold".

First, on the gold chart, note that lows in the RSI have generally occurred one week before lows in price and a couple of weeks prior to price trendline breakouts. Also note that the RSI itself will breakout from downtrends and, when it does, it usually portends higher prices. In silver, we get a similar picture. Pay special attention to the longterm RSI trendline. It has been downsloping since May and it just broke out back at the first of the year. This is a very encouraging development.

Again, secondary technical indicators are not the be-all-end-all that many chartists make them out to be. However, they can occasionally be helpful when looking for trend changes in price...kind of like what we are currently doing. When you combine the RSI, the MACD, the price charts and the OI numbers, you begin to get a sense that we have seen the bottom in both metals . Let's now just patiently wait for price to confirm these developments.

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The Path.... The Rocky Path

Submitted by Be Prepared on January 10, 2012 - 7:52pm.

First-a-licious again, but it's really more important to focus on how to navigate all the craziness ahead. The Path we find ourselves on is a boulder-filled rocky path. I look out on this year and much is unknown, but what I do know is that I need to expect the unexpected. Personally, Silver & Gold in the short term will whip-saw all around us so I am ever so glad Turd is on the job giving us some lights to navigate this dark patch.

Sweet! Good stuff, Turd.

Submitted by Dr G on January 10, 2012 - 7:54pm.

Sweet! Good stuff, Turd. Santa has a "feeling" that gold will make a nice move in the next 48 hours (now 40 hours). We shall see if his feeling is correct, but the technicals are starting to show that a big move good be in the pipe.

I still purchased today--I've cut back a bit but am purchasing about twice a week at this point. Not big purchases, just my weekly amounts. If the price is right I do a big purchase.

Thanks Turd

Submitted by Bsong on January 10, 2012 - 7:56pm.

This is the area I'm eager to learn. Economy and political insanity have kept from giving the TA its Due.

Thanks

Submitted by JavaJedi on January 10, 2012 - 7:57pm.

I too have watched MACD and RSI, but until I started lurking around here, I didn't have the bigger picture of OI and just how badly manipulated all of that stuff is.

Thanks for the wake up call, Turdville!

Again, love watching the

Submitted by bestever on January 10, 2012 - 7:58pm.

Again, love watching the action as big sellers come in to knock silver under $30. They are losing the fight. It's going to be an awesome year. If you guys didn't see the letter I wrote to the CFTC in the other thread, it's posted below for convenience. Feel free to send from your own emails :)

to:

[email protected],
[email protected],
[email protected],
[email protected],
[email protected]

To all of you supposed "regulators" who I am currently employing through my tax dollars,

I am beyond upset with your administration's inability to address and stop the naked leveraged short selling of silver. I would like to thank Bart Chilton for insinuating the truth of the situation. But to the rest of you-- what cometh of your investigation (or lack there of)? I am disgusted with your organizations seeming subservience to these commercial banking interests. Don't you dare forget that you are all employees of myself and the rest of the American public. I demand that you quit dilly-dallying and get back to work. How much easier could it be for you? Does the whole entire investigation need to be handed to you on a silver platter? Ha!

If you continue to kick the can down the road and look the other way, you are setting yourselves up for an embarrassment of epic proportions. Don't you people remember your purpose? Let me spell it out for you: serving and protecting the interests of the American public. I am writing this email to you all, so as to remind you that the victims of the silver manipulation are not faceless. We are people, American citizens... perhaps the only true patriots-- who wish to see a return to sound money. Either way, your lack of prosecution of the large commercial shorts (JPMorgan and HSBC) is akin to being complicit in this scheme of driving the metals lower.

Do you not understand what is going to happen? Let me spell it out for you. Every nuclear event in the precious metals markets simply results in physical metal transferring from Western to Eastern vaults. Is this what you want? What will we do when the Chinese have it all and all we have left is our funny money? The implications are terrifying.

Again, as a citizen, a tax payer, and therefor YOUR EMPLOYER, I demand that you respond to this email in kind. Recognize that silver investors have been bled out numerous times the past year, and we demand justice. If you guys seek to ignore or poo-poo this email like your drone did to Andrew Macguire when he spelled it all out for you, I will be doing all in my power to see that you people are removed from your positions as regulators, as it is obvious that you are all POWERLESS to protect the public from these "nefarious market forces".

I look forward to hearing your response.

Compare Silver Prices | Compare Gold Prices

nice chart work

Submitted by atlee on January 10, 2012 - 8:05pm.

Nice chart work Turd. I love you better as a "market strategist." Whether you or your audience is trading or not it is good info and helps keep a bead on the pulse of the market.

Well done...

Submitted by Bay of Pigs on January 10, 2012 - 8:16pm.

Great analysis TF. Well thought out and balanced. Very helpful.

Hundreds Threaten Suicide At Microsoft Supplier Plant

Submitted by Economical Disaster on January 10, 2012 - 8:20pm.

SEATTLE, Wash. (CBS Seattle) – Some 300 Chinese Foxconn employees who manufacture X-box 360 machines said they would throw themselves from their Wuhan, China, plant if demands for lost wages were not met.

China Jasmine Revolution, an activist revolutionary organization with a name borrowed from the Tunisian revolt that set off the Middle East unrest, reported that employees made their demands for a wage increase for 100 employees on Jan. 2.

Management at Foxconn — the world’s largest contract electronics manufacturer and a crucial link in the supply chains of Apple, Dell, Nintendo and Song — responded with an ultimatum. Employees could quit with one month’s compensation awarded for each year with the plant or go back to working.

Many employees quit, but Foxconn allegedly dishonored the agreement and awarded former employees nothing.

Around 300 workers returned to the plant in an uproar, and staged their protest on the plant’s roof on Jan. 3.

Wuhan’s mayor intervened through hours of negotiations, walking them back from the roof’s edge until 9 p.m. when workers agreed to return to work, according to China.com.

Calls to Foxconn were not immediately returned.

A Microsoft spokesperson wrote CBS Seattle a statement saying, “Microsoft takes working conditions in the factories that manufacture its products very seriously, and we are currently investigating this issue.

http://seattle.cbslocal.com/2012/01/10/hundreds-threaten-suicide-at-micr...

In The First Few Days Of 2012, US Mint Sells More Silver Than In

Submitted by adrock on January 10, 2012 - 8:20pm.

In the first few days of 2012, the US mint has already sold 4.3 million ounces in silver coins. This is more than in all individual months of 2011 except for January and September, when the mint sold 6.4 million and 4.5 million ounces. Is the retail love affair with physical silver coming back with a vengeance?

http://www.zerohedge.com/news/first-few-days-2012-us-mint-sells-more-silver-all-most-months-2011

Confucius says:"The Superior

Submitted by Shill on January 10, 2012 - 8:27pm.

Confucius says:

"The Superior Man is aware of Righteousness, the inferior man is aware of advantage."

Beautiful

Submitted by silverstool on January 10, 2012 - 8:27pm.

Turd, yet again you cut through the BS and lay it on the line. This level of analysis usually comes for a fair price and I would like to thank you for being generous enough to share this with like minded individuals. A timely reminder to dip into pockets and feed the Turd!

Turdville TV

Submitted by ReachWest on January 10, 2012 - 8:28pm.

Looks like the midday television newscast from Turdville ran again today. I was able to PVR it and load a version to YouTube for everyone here to see. Enjoy.

Thanks Turd!!!

Submitted by Save_America1st on January 10, 2012 - 8:29pm.

via King World News... http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/1/10_Hathaway_-_Short_Squeeze_in_Gold_to_Crush_Naked_Shorts.html

Four decade veteran John Hathaway, told King World News that we are seeing the beginnings of a massive short squeeze in the gold market. The prolific manager of the Tocqueville Gold Fund said the gold market will turn dramatically against the shorts. Here are the critical observations by one of the most extraordinary 5-star rated Morningstar fund managers: “We had extreme readings in terms of sentiment, measured any number of different ways. Usually that means you are into the dry heave stage where there is nobody left to sell. What I think we are seeing here is a terrific short squeeze. I think this is going to get the shorts concerned and there are plenty of shorts that are naked here and have to cover at some point.”

John Hathaway continues:

“I think the market is testing their fortitude, that’s what I see right now. The bigger picture continues to be monetary debasement and that’s the big driver of higher gold and silver prices. But in the short run, I think we’re just seeing a classic short squeeze. It could get very ugly for the shorts.

What I like here is it looks like you put in a low here of some significance. I think the next time around the shorts are going to be a little more timid. Let’s see when the shorts cry, ‘Uncle.’ I think that’s what we are going to see over the next several weeks.”

When asked about Louise Yamada’s 30-year XAU vs gold chart, which showed gold shares being dramatically undervalued, Hathaway responded, “I’ve noticed that the universe of investors for gold stocks is slowly expanding. Those (value investors) are people who are coming into the gold space that are basically agnostic about the future course of paper money versus gold. They’re saying, ‘Boy these stocks are cheap, got to own them.’ So there’s a new bid for gold stocks, completely different that what we saw over the last five or six years.....

Continue reading the John Hathaway interview below...

When asked about his upcoming letter, Hathaway stated, “The macro picture is it’s a world in which governments are substituting sovereign debt for private credits that have gone bad. Just changing the wrapping paper doesn’t change the contents. They are just papering over bad assets with government paper, which, ultimately, is going to make government paper go bad.

In terms of what is going on in the gold sector, and I appended a number of charts I look at all of the time, but I thought it would be good to share them. One of the things that stood out to me was the fact that central banks have turned into net buyers of gold. I don’t think that’s a trend that’s going to go away any time soon, particularly in a world of zero interest rates.

The other thing in the gold section of those charts was how rock bottom sentiment was. I’ve been saying for some time that when things look this bleak, in terms of market action, it was a good sign of a bottom. I’m not in the business of calling market turns, but I’ve been through a bunch of bottoms and when I see sentiment like this, I’m pretty sure there isn’t a whole lot of downside.

Lastly, the (mining) stocks themselves are as cheap as they’ve been relative to bullion prices in the 12 years I’ve been doing this. There wasn’t a kind word anywhere for gold stocks. Most people would say, ‘Bullion is okay, but those companies are just terrible.’ People forget that in a better market for gold bullion, which I think we’re going to see, the stocks tend to outperform.

That’s kind of a summation of what’s is in the upcoming letter. A lot of charts to back up what I just said.”

I like reading the word "Encouraging" in Turd's Posts!

Submitted by ReachWest on January 10, 2012 - 8:43pm.

The general feeling out there from most of the comments and articles I read, here and elsewhere, is that we are on bottom for both metals. Turd's excellent technical analysis as presented above, looks to back up that "gut" feel that we are on bottom.

My question is; how long do we stay here. Of course no one can know the answer to that - but I have a "gut" feel that we move off bottom, sooner than later.

Thanks for the analysis, Turd!

http://www.bloomberg.com/news

Submitted by Shill on January 10, 2012 - 8:51pm.

http://www.bloomberg.com/news/2012-01-10/fannie-mae-ceo-michael-williams...

Farmers Sue Jon Corzine Over Missing Millions

Submitted by ClinkinKY on January 10, 2012 - 9:00pm.

By CINDY GALLI

Jan. 9, 2012

Montana farmers have filed a class action suit against former New Jersey governor Jon Corzine, charging that the failed financial firm run by Corzine stole millions from their accounts to pay off its spiraling debts, and that Corzine's "single-minded obsession" with making MF Global a big player on Wall Street led to the firm's collapse.

MF Global's clients included 38,000 wheat farmers, cattle ranchers and others who "hedged" their crop prices by placing millions in MF Global accounts. Those accounts were supposed to be "segregated and secure," according to the federal suit, meaning MF Global could not draw on those funds.

@bestever

Submitted by vamoose1 on January 10, 2012 - 9:13pm.

Admire your guts, kudos.

respectfully, i would suggest you reconsider your admiration for bart. You would have heard of the good cop/bad cop two step. gensler needs no introduction as the bad cop, and you might do some reflective thinking about the role of Chilton. I have done mine, and it took a while.

Money talks and bullshit walks, and they have done NOTHING. In fact they are part of it.

Were Chilton an honorable man, he would have long since resigned.

Media losers purposefully

Submitted by Shill on January 10, 2012 - 9:20pm.

Media losers purposefully avoiding Paul second place win, and talking about 3rd place winner Huntsman as if anyone cares. Total media blackout of Paul on CSPAN.

Nothing on CNN except the talk of Huntsman 3rd place nothingness. Total media blackout of Paul. Such a disgrace our Media has become as a primetime source for information, truthful information. We know they suck but too see it in Primetime makes it even more sickening and disgusting to watch.

Huntsman as if he matters.

Nice write-up Turd. Haven't

Submitted by redwood on January 10, 2012 - 9:30pm.

Nice write-up Turd.

Haven't heard anything yet on the Merkel-Laguarde meeting held 5 hrs ago. Usually a pullback from turnaround Tuesday but maybe less so tomorrow. Either way I'm expecting metals to go down for a few weeks after this week at least until an "official" QE3 is announced.

Survival Kits

Submitted by Dave T on January 10, 2012 - 9:36pm.

Interesting... I see where Provident Metals, which many of us know is a bullion dealer, is now selling survival kits on their site.

http://www.providentmetals.com/food-storage-survival-supplies.html?utm_s...

Nice looking kits.

NBFFT

Submitted by I Run Bartertown on January 10, 2012 - 9:39pm.

"The real show is playing out in the Primary Trend for silver and gold, UP, UP, UP for several more years in an unbeatable bull market that will give a wild ride to shake off as many riders as possible.

Devaluation is ALWAYS the inevitable outcome of the Federal Reserve's existence, because it is an engine of inflation. It was spawned to inflate, and must inflate or die. Will it inflate? OF COURSE. So instead of looking at the plain historical record -- the US dollar down to 1.3 cents of its value in 1913, when the Fed took charge of managing the dollar "

- Franklin Sanders, The Moneychanger

http://silver-and-gold-prices.goldprice.org/2012/01/gold-price-rose-2350-smashing-down.html

Long Term Charts

Submitted by I Run Bartertown on January 10, 2012 - 9:44pm.

http://www.silverseek.com/article/why-silver-monetary-collapse-part-2

"The process of the devaluation of gold and silver, started by the demonetization of gold and silver, is about to reverse at a greater speed than ever before. This is similar to what happened during the late 70s, when the gold and silver price increased significantly. However, what happened in the 70’s was just a prelude to this coming rally. The 70’s was the end of a cycle, this is likely the end of a major cycle; an end of an era of the debt-based monetary system (dishonest money).”

I have seen enough Stupid

Submitted by Shill on January 10, 2012 - 9:51pm.

I have seen enough

Stupid Americans, you deserve your destiny.

CBS's Bob Schieffer predicts Les Paul to Finish Second:)

Submitted by ClinkinKY on January 10, 2012 - 10:01pm.

ROSE: So is the question who comes in second, or the more important question, who comes in third?

SCHIEFFER: Well, I think the more important question, Charlie, is the- is whoever's second, is that just going to be bunched up among a bunch of people, because right now, you have a large segment of the party [who] just don't like Mitt Romney, but they can't find their champion. Some of them like Les- I mean, not Les Paul, Ron Paul-

ROSE: Ron Paul-

SCHIEFFER: Some of them- Les Paul played the guitar, of course- (Schieffer, Rose, and Hill laugh)

GOP

Submitted by Bay of Pigs on January 10, 2012 - 10:05pm.

Huntsman is the new Santorum tonight...LOL. Those numbers are absurd. Both Santorum and Huntsman are single digits at best.

RP most likely got 3o% or more in both Iowa and NH. TPTB certainly can't have that. They need Mitt Romney against anyone else except Ron Paul.

It's becoming fairly predictable to see how this will all go down. Another MSM blackout of Ron Paul, just like 2008.

Smoking gun on Swiss role in $50 Sep 6 gold plunge?

Submitted by Turdle GG on January 10, 2012 - 10:06pm.

High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email [email protected] to buy additional rights. http://www.ft.com/cms/s/0/19203e9c-3ae2-11e1-b7ba-00144feabdc0.html#ixzz1j6wcWYbN

"Separately, the emails also revealed Mr Hildebrand ordered the purchase of Sfr25,000-worth of shares in Roche, Nestlé and Weatherford, and that his wife had mentioned buying put options on gold “when the time is right”."

http ://www.ft.com/intl/cms/s/0/19203e9c-3ae2-11e1-b7ba-00144feabdc0.html#axzz1j6uyA7O7

More technical indicators...

Submitted by DaddyO on January 10, 2012 - 10:13pm.

Some of you may enjoy this vid...

Whittle's comments are spot on!

DaddyO

Great Speech

Submitted by I Run Bartertown on January 10, 2012 - 10:13pm.

RP is giving right now. Hitting EVERY point! He is a machine.

And I swear, he's getting even better and smoother in his delivery.

Been out all day...

Submitted by DaddyO on January 10, 2012 - 10:20pm.

came home to see Silver closed just under the big $30. It seems the metals got some legs today and didn't get kneecapped as the market headed for its close.

So are you ready to really call a bottom, Turd?

DaddyO

Paul

Submitted by Planters on January 10, 2012 - 10:21pm.

A great second place speech......and second is first to last. I like Paul but I don't think there is a chance in hell for him. He is a radical republican and in IMO too much for the conservatives.

"Technical" Problem on CSPAN

Submitted by Boswell on January 10, 2012 - 10:21pm.

Dropped a minute or two near the beginning.

"Dropped a minute or two near

Submitted by redwood on January 10, 2012 - 10:24pm.

"Dropped a minute or two near the beginning."

Assholes is the only word that comes to mind.

RP is just freaking awesome

Submitted by Turd Ferguson on January 10, 2012 - 10:25pm.

MODERATOR

GREAT speech in New Hampshire tonight.
I can certainly understand where dyed-in-the-wool liberal democrats don't and won't support Ron Paul.
What I can't understand, however, is how any rational and thinkng person could hear Rep Paul's speech tonight and NOT support him, particularly considering the option of voting for any of the five clowns running against him.

Looking For This in 2012

Submitted by California Lawyer on January 10, 2012 - 10:26pm.

Mates, just want to weigh in on a few things.

Here is what I learned from Jan-Dec. 2011:

(1) I am far more knowledgeable about the silver and gold Comex manipulations, and the emotional aspects to it. I am not phased at all now by the recent downturn in the physical spot markets, unlike how I felt back during the April 2011 run up or the gut wrenching May massacre. The reason for this, is, of course, Turd's fantastic blog post and the awesome comments, all of them. I read all of the posts, and I draw my own conclusions. I do not offend easily, so if I don't like a post personally, I do appreciate the contrasting view point for sure.

(2) I can determine sentiment very easily now. When all the posts here are gloomy, then the bottom is likely closely at hand. If everyone is sunny and happy, I get VERY wary. This kind of conditioning is extremely unnatural, and it has taken a very long time to try to get in tune with it, but it sure works.

(3) I wish I would have read Jim Rickards Currency Wars earlier. Fantastic book. It contains an excellent true story, plus the best historical summation reference to currency, etc., that I have found. It is not too dense of a book, although one cannot just skim the book. I have another 100 pages or so to go.

(4) The western world's financial system is broken beyond repair. Can kicking is the only option until collapse. Collapse is not necessarily going to be something akin to Mad Max, though, at least for Americans. I believe it will be more changes at the margins, like increased govt intrusion into personal privacy, more red tape so that the govt can collect data, more govt programs to "help" us which actually restrict freedoms, Pyrrhic choices in everything from taxes to unemployment to health care, things like that. FEMA camps will not be filled for now, but preparations for their use will continue. More fed govt employees, tantamount to an occupying force, will be spread out among the country, due to increased instability of the financial system, but the stated reason will be due to terror concerns from extremists.

(5) The Euro will not collapse, but will fluctuate in its ballet with the USD. I finally understand why this is the case. I wish to God I had known this earlier, as I would not have wasted so much time trying to learn to trade the Forex.

(6) I will continue to stack, probably on a dollar-cost average, although I find it irresistible to avoid buying a gold 50 peso coin when I settle a nice case or two. My favorite coin, hands down. If only I had not lost them all in that damn boating incident and that unfortunate car wreck. Oh well . . .

(7) Benjamin Fulford is fascinating to read. I cannot stop, it is like crack. Maybe he is loony, maybe not?

(8) Bix Weir is another enigma. His track record is good, his reasoning is good, but his reference that the Fed is part of the good guys? Really? I also cannot shake my strong sense of disconnect between Ayn Rand and her acolyte Alan Greenspan. How can Greenspan have been such a follower, yet have created the serial bubbles which eventually lead to the current fiat mess? Either Bix is right, or Greenspan completely reversed his philosophical mindset. It has happed before, like with Earl Warren, who was a staunch conservative, until he became Chief Justice of the US Supreme Court. So, I just do not know, but I find the disconnect fascinating.

(9) The war drums and past historical parallels are overpowering. War is likely to break out with actual hostilities this year. I pray for the young lives, and hope that we can avoid losing any more soldiers to the needless wars.

(10) Gold and silver are poised to rise to $2,200 and $60, respectively. I make this prediction based not on technical analysis, but on good ole fashioned fundamentals and instinct. On the speakeasy forum, I was pretty close on the prices at the close of 2011. I said $1,650 and $34.50. I figured that the smash down would take out the weak hands, allowing shorts to cover, in anticipation of the great printing that will take place before the election. I like to think I nailed it for the 2011 close, so the run up should take place on schedule in the next several months.

(11) The wall street insider (WSI) is another fascinating read. True or just another story? The Valerie Jarret / William Daley feud, was not on my radar at all, but it was mentioned in detail by the WSI. Now, the story is confirmed by other insiders, so what do you know? Maybe there is something about this absolution stuff from the WSI? Bix Weir had Daley as a JPM plant to smash silver, but now he is out, and Weir is saying silver is about to launch to the upside. Are both Weir and the WSI sensationalizing, or something else? Damn intriguing is all I know. I am certainly reading and paying attention, I will tell you that.

(12) Nice to see the WSJ picking up on the Bernanke white paper that I analyzed a week ago. Nice to see that Bill Clinton has correctly analyzed that housing is the key to the economic recovery here in the USA. Unfortunately, no main stream media outlet will tell the truth: the TBTF banks must be rendered insolvent, bad debt must be purged, and then and only then can the economy hope for a chance to recover. Since this will never happen, then all other solutions are just more of the same, so there is NO HOPE for a true economic recovery. Thus, stack and prepare is the solution, just like last year.

(13) I have resigned myself to understand that some people just do not want to learn, or to know the truth. I have decided that helping others after a collapse may be far more productive than trying to get others to prepare accordingly. I am not sure what is the best thing to do about it, but I am starting to formulate a plan on this basis.

(14) Internet anonymity is paramount, and face-to-face meet ups with fellow Turd followers is not likely to happen. I will not seek to network on a personal basis due to this limitation. I will, however, be willing at a moment's notice to help anyone here who asks, though. Just send a message and I will do what I can. I do believe that 2012 will present unbelievable challenges, and I hope and pray that I am up for them. Tebow is an inspiration, maybe a sign, as well. Just saying . . .

(15) There is no such thing as an improper comment here on this blog in my mind, so long as it is not a personal attack on someone. Post away with your thoughts, let's share and learn, with tolerance, and civility, please.

(16) I believe Romney wins, as I believe Obummer has lost confidence from TPTB and they want him out. Romney winning will result in can kicking as you and I have never seen. I will predict the rise of a new currency within one year, with the IMF in charge. Romney will try to break all consumer groups, unions, trial lawyers and mandate some form of govt tax at all levels of any economic activity, but it will be called a user fee. Romney will crack down on guns and ownership thereof. Look for a new transaction tax, national sales tax, forced transition of retirement funds into govt t bills or other scheme, which will only result in massive govt theft of private retirement funds.

(17) If I am wrong, and Obummer wins, then brace for more centralized govt planning and massive loss of freedoms on a scale never seen before. The financial collapse will be nothing but an orchestrated theft of private property to fund govt. Pensions will be stolen. Assets will be stolen. Private property will be stolen. Govt intrusion will be unrelenting and comprehensive. Capital flight and relocation will be staggering and breathtaking.

(18) If Ron Paul wins, I will send Bix Weir a thank you card, and I will never doubt him again, ever.

(19) Bart Chilton and the CFTC: Bart is a shill. Either he is part of them, and corrupt, or he knows the truth and is ineffective or just marking his time until the next govt appointment and then a retirement payday. He is worthless. The CFTC is corrupt and part of the problem. Maybe the CME/CFTC/MFing Global mess ends up with truth shining upon the sordid details, but I say no, it gets buried, and Corzine slinks away, back into the slime.

(20) Probably forgetting something, but oh well. Good luck everybody!

Smoking gun, continued

Submitted by Turdle GG on January 10, 2012 - 10:27pm.

Follow up to my post above, see the official statement from Hilbebrand, with accompanying e-mails:

http://www.snb.ch/en/mmr/reference/pre_20120109_3/source/pre_20120109_3.en.pdf

On the fifth page of the pdf document, you can see a "Client Contact Report", in which Hilbrebrand's private banker makes notes about a meeting with Hilbrebrand (and presumably his wife as well), including this note:

"Kashya mentioned that she may look at buying Put options on gold soon , i.e. when the time is right...."

The meeting took place on August 15.

Paul so much wanted to say "

Submitted by Shill on January 10, 2012 - 10:30pm.

Paul so much wanted to say " Gold Standard " but played it safe with Sound Money. None of the other candidates should even be on the same Stage as Paul..

Romney's speech was Via telepromptor...scripted just like Obama

O'bamney vs Robama!

Huntsman equal's irrelevant media show....

Time is on our side

Submitted by I Run Bartertown on January 10, 2012 - 10:42pm.

"As the legend goes, Odysseus chose to confront Scylla (a six-headed monster) and risk losing a handful of sailors, rather than to risk the loss of his entire ship to Charybdis (a whirlpool). It is my belief that most central banks view systemic risks, austerity and deflationary depression as that whirlpool. That would make expansive monetary policy and inflation Scylla in this analogy — the lesser of two evils. The Fed's move toward inflation targeting is a pretty telling indication of where our own central bank stands on this issue.

By the 8th century BC, when Homer is thought to have written the Odyssey, gold already had a long history of being used as money. And the striking of gold coins would commence just a century or so later. So when you think about how best to protect your wealth from stormy seas and sea-monsters, choose something that has withstood the test of time. Choose gold."

http://news.goldseek.com/GoldSeek/1326234141.php

Peter Grant is USAGOLD's resident economist and a well-known analyst globally in the forex and precious metals markets.

EXK

Submitted by Bsong on January 10, 2012 - 10:54pm.

Endeavour Silver Corporation...Suposedly took Sprotts advice and held back 800,000 ounces in the last quarter. I'm going to research this as Its a quote from ZH comments. None the less interesting.

Quote from speech

Submitted by Bsong on January 10, 2012 - 10:58pm.

Only sound money and personal Liberty will solve today's problems. Ron Paul...

Folks this one sentence from Rons speech tonight does in fact some it all up.

Just heard about a guy who lost his whole stash!

Submitted by johnboatcat on January 10, 2012 - 11:02pm.

Horrible story!

His niece gave it all away at Halloween to kids who came to the door. She thought it was chocolate. When asked about it later he stated, "Well I sold the boat you know!"

THE MORE I RESEARCH... THE MORE I REALIZE HOW SCREWED WE ARE..

Submitted by SRSrocco on January 10, 2012 - 11:03pm.

OUR BANKING SYSTEM IS SCREWED BEYOND REPAIR

As I sit and watch the CLOWNS (minus Ron Paul) give their silly speeches to their supporters, I am reading some of the most surprising information I have come across in a quite a while. The U.S. Banking system is so beyond repair, it's not even funny.

I am doing a few more charts-graphs for my article coming out next week and I assure you, this article will be an EYE OPENER. I can't believe I did not know this information before. I imagine some of the folks here probably know some of what I found out tonight, but I tell you.... I am completely Shocked. I really didn't know our banking system was this bad. (and I knew it was bad to begin with).

Anyhow, time to be in PHYSICAL GOLD and SILVER. Stop reading the chartists like MAUND and etc. Where Silver and Gold are going is well beyond anything thing these folks can comprehend on their little charts.

It's still early a strong

Submitted by Shill on January 10, 2012 - 11:04pm.

It's still early a strong showing in NH for RP may get others to rethink their vote, it is doubtful but who would have Thought that a mere 7 years after 9/11 a person with a name similar to that of a terrorist mastermind could get elected POTUS, stranger things have happened.

Good evening, Sleep well

WorldRussian warships leave Syrian port of Tartus

http://en.rian.ru/world/20120110/170695026.html

Caption: Coming for your checkbook and your guns commoner!

Rombama won't go for guns....

Submitted by Be Prepared on January 10, 2012 - 11:14pm.

He will go for the ammo and tax it into oblivion.....much easier and doesn't have to take on the 2nd amendment. Without ammo, weapons are useless. There are just so many ways the government can screw with us under the cover of seemingly benign reasons. Romney and Obama are cut from the exact same cloth....big government....nanny state......no freedom. The future is brigh.......ht..... really.

@California Lawyer - Great Post!

Submitted by Be Prepared on January 10, 2012 - 11:18pm.

Here....have a twinkie before Hostess goes out of business....

I agree Turd

Submitted by LaMachinna on January 10, 2012 - 11:23pm.

I decided to sign up to volunteer for Ron Paul, especially after his speech. Even my husband was very impressed with it, which is a turn. I am amazed by this man, this true leader, this patriot, who is giving of his life, his energy, his money, etc. for his true love of us and our country. I heard an interview where he said he's not real sure he can imagine himself in the White House....he knows the odds....And, that's what makes it even more significant and giving of what he is truly doing for us as a nation. And not expecting anything in return. Yep, got my respect and vote!

its almost too much..

Submitted by Lxan on January 10, 2012 - 11:34pm.

waiting on Turds bottom to back the truck up!!! Im going in heavyyyyyy

Oh and hello from newb to turdville, Thanks for the great site everyone!!!!!

@Bsong

Submitted by Irene on January 10, 2012 - 11:34pm.

EXK: we talked about EXK holding their savings in kind earlier today, here's the link

http://www.proactiveinvestors.com/companies/news/23288/endeavour-silver-says-q4-silver-production-up-25--23288.html

California Lawyer

Submitted by retireyoung on January 10, 2012 - 11:43pm.

Also being a California lawyer, albeit retired, I am most interested in your Assertion 16. You present "argument" but no "evidence". What is there in Romney's past record that would lead you to seriously assert any or all of your "predictions"? Assuming you can find something there, what evidence do you have that the Congress, probably both Houses being controlled by Republicans, would allow such dire predictions as you have made to be enacted into law?

Text of Ron Pauls NH speech

Submitted by Drifter on January 10, 2012 - 11:47pm.

http://www.washingtonpost.com/blogs/election-2012/post/ron-paul-new-hampshire-primary-night-speech-text/2012/01/10/gIQACW2WpP_blog.html

The more I think about it...

Submitted by LaMachinna on January 10, 2012 - 11:48pm.

it makes me realize how much of a patriot our Turd is too. He is doing the EXACT same thing for us, our families and our country.

Turd, man, thank you so much for all you do and give to help us! You have always had my respect and love, but just realize how much bigger of a gift you have been giving us. You get my vote!