Turd on the Brink of Insanity

So, this is how it works in the Age of Lies, Obfuscation & Nonsense.

2/29 - Bernanke testimony. Down go PMs. http://www.tfmetalsreport.com/blog/3465/csi-comex-gold-and-silver-massacre

3/8 - Bernanke buttboy Hilsenrath talks. Up go PMs. http://www.tfmetalsreport.com/blog/3494/whatever-sterilize

3/13 - FOMC minutes no QE. Down go PMs. http://www.tfmetalsreport.com/blog/3520/literally-sick-my-stomach

3/26 - Bernanke talks. Up go PMs. http://www.tfmetalsreport.com/blog/3578/thank-you-mr-ben-bernank

4/3 - FOMC minutes again. Down go PMs. http://www.tfmetalsreport.com/blog/3615/schizo

4/11-12 - More talk of QE from Bernanke, Yellen and Dudley. Up go PMs. http://www.tfmetalsreport.com/blog/3654/sack-nonsense-redux

4/13 - Bernanke talks. Down go PMs. http://www.zerohedge.com/news/no-hints-qe-latest-bernanke-word-cloud

Absolutely ridiculous and comical nonsense. NO ONE should be attempting to trade gold and/or silver futures on the Comex. The WOPRs and The Cartel are completely in charge and every mutterance and headline sends a cascade of HFT orders based solely upon phraseology and syntax. THIS IS MADNESS! In the end, the fiat price of true money is left to shift in the wind, regardless of the underlying fundamentals. Therefore, THE ONLY ONES WITH A CHANCE are the regulars in Andy's Army. EVERYONE ELSE must avoid day trading at all costs. THE ONLY OPTION is to buy physical metal on paper metal dips and TAKE DELIVERY.

Have a nice weekend. TF

483 Comments

Silver Meddler's picture

Moar dipz

I'm holding out for a further dip before buying more... but I'm watching the madness.

Dr G's picture

As I said in the last thread,

As I said in the last thread, I hope Andy knows what he is doing with his trades or that money is just money pissed into the wind as well.

How big of a chance does Turd's army really have at this point to make some profits? I'm honestly curious about this and can't wait until we hear how they've done in their first sessions. I hope they don't get their asses handed to them.

AlienEyes's picture

Second! or maybe thurd.

Second! or maybe thurd.

ClinkinKY's picture

Putting in my "reservation" for 100th post...

...now I have to go to bed so I can work graveyard shift.

silverstarfox's picture

Fifth :)

I was sitting in cash today, thinking maybe go long. Decided against it, and gold dropped big. Now I look at the charts and think gold has some more downside early next week. Anybody care to weigh in on the technicals? Looks to me like we might see another 20 to the downside mon/tue.

Turd Ferguson's picture

As I said when I introduced the service,

MODERATOR

the ONLY PERSON that I know of qualified to trade in this market IS Andrew Maguire. 

Roger Godberd's picture

Brink of insanity

The only way to trade this market is with decent hedges imho.

Too often my account has been completely screwed with a one way bet. Even with hedging you can still get it wrong if it is not managed.

Be careful in AArmy, my experience is that some prof. metals traders can be incredibly bullish and do not hedge as they only use 10% of their account on a position when using margin. Most amateurs (myself included) will often be over exposed and so can blow out.

Agree with TF. Only way to be sure is to buy phys & take delivery.

One things for sure...with the Chinese buying tons of phys and taking it off the table, these prices cannot last long...when will be see true paper/phys price divergence I wonder?

tpbeta's picture

ooh

The gold chart is forming a swastika. Does that have a special meaning?

Straying From the Flock's picture

Why

If the fundamentals and TA are pretty much a crap shoot right now, why take the chance on the paper market? If you want to gamble, give me your money and I'll flip a coin. Heads I keep your money. Tails I keep your money and I'll kick you in the balls for good measure. Pm me for the address to send cash to.

Seriously people. Is this investing or a gambling addiction?

Stack faster.

RGD

bullwhip29's picture

Down go stocks too...

DJIA rejected with authority at 50d MA

S&P currently doing a highwire act on the 50d MA. Floodgates open wide if this fails, all of yesterday's gains are wiped out and all the talking heads who spoke up yesterday look like even bigger idiots than usual. Assuming everything is still business as usual, TPTB will not permit this going into the weekend.

Gold at $1650 is still up on the week, the month and the year. I can live with that. Yes, trading this has been impossible.

johnboatcat's picture

APMEX selling Titanic coins on Friday the 13th

Shop Our Titanic 100th Anniversary Collection

http://shop.apmex.com/acton/ct/1436/s-02bc-1204/Bct/q-0065/l-0058:30b85/ct6_0/1

and silver sinks.  Go figure!

Moderator Lincoln's picture

Hang in there, boss!

MODERATOR

You're the kind of insanity we like!

murphy's picture

Daily Bell - they want a global currency

Friday, April 13, 2012 – by Staff Report
burn150.jpg

Spanish bailout 'impossible' for eurozone, says prime minister Mariano Rajoy ... The eurozone is not equipped to bail out Spain, the country's prime minister Mariano Rajoy has admitted, as global traders continued to punish the nation's stocks and bonds. Mr Rajoy said it was "not possible to rescue Spain" but insisted his country did not need a Greek-style international bail-out anyway ...Christine Lagarde, the boss of the International Monetary Fund (IMF), also warned that Europe's rescue mechanisms were not enough to restore confidence to global markets but said the IMF could provide a "global firewall". Speaking in Washington on Thursday, Ms Lagarde, who is seeking to raise $500bn (£313.4bn) in extra funds for the IMF from the G20, warned risks to the global economy "remain high; the situation fragile". "We need a broader approach – and a stronger global firewall – if we are to push back this crisis. The IMF can help. But to be as effective as possible, we need to increase our resources." – UK Telegraph

Dominant Social Theme: What is needed is a global currency.

Free-Market Analysis: We've long since come to the conclusion that the EU's sovereign crisis is a manufactured one. This article supports such a conclusion, in our view.

http://www.thedailybell.com/

lodmund's picture

Where's Winston?

haven't heard much from him since he predicted that gold would rally from 1680 a couple of weeks ago and instead it got smashed to 1620....good job he is not running  a subscription service as i'd hate to think turdites were paying for advice like that

FriedEggs's picture

Re: Up, Down, Up, Down, A,B,A,B, start button

Gold 3 steps forwarded...

and than 2 steps back...

.

Fried(e)...still = plus 1

.

P.S. Gold to close at $1,666 on Friday April 13?

Tube's picture

Titanic privy maples

With all of the boating accidents on the blog, the Titanic privy maples should be a hot item around here...

survivalwstyle's picture

LCS

local coin shop where i go

lOOk c@ck sucker big banker i do not know

isnt it puFF puFF

give

(e)

Orange's picture

Inflation

Have I gone nuts? Just went out and bought three 9 volt batteries. $18.00 including tax. I bought them for my fire alarms, so I don't buy them frequently, however I don't remember having to pay that much. 

I suppose these are explicitly excluded from the CPI fixes. 

murphy's picture

Furthemore:

Furthemore: http://www.thedailybell.com/3789/Debt-Crisis-Plotted-to-Deliver-the-Euro-to-the-IMF

A good article on the moves being made to build this currency is entitled "The Triffin Dilemma Will Create a 3-G World" and was posted at Goldseek. In it, author Richard Mills points out the following:

In the wake of the financial crisis of 2007–2008, Zhou Xiaochuan the governor of the People's Bank of China, said that a national currency is unsuitable as a global reserve currency ... In a speech titled "Reform the International Monetary System" Zhou argued that part of the reason for the original Bretton Woods system breaking down was the refusal to adopt Keynes' bancor.

Calling Keynes's bancor approach "farsighted" Xiaochuan proposed strengthening existing global currency controls through the IMF by the adoption of International Monetary Fund (IMF) special drawing rights (SDRs) as a global reserve currency. When Special Drawing Rights were originally created in 1969 one SDR was defined as having a value of 0.888671 grams of gold, equal to the value of one US dollar at that time. After the breakdown of the Bretton Woods system the SDR was redefined in terms of a basket of four currencies.

From January 1 2011, the IMF has determined that the four currencies will be assigned revised weights based on their roles in international trade and reserves. Due to varying exchange rates, the relative value of each currency varies continuously and thus the value of the SDR fluctuates. The IMF fixes daily the value of one SDR in terms of US dollars based on the exchange rates of the constituent currencies.

We've speculated that the elites want to create some sort of formalized gold standard in the past. But more and more the logic is inescapable: The elites are opposed to gold at every level (except for themselves). They hate the idea in fact that the common man owns either gold or silver. Monopoly fiat/paper offers much more control.

Having spent a century building up monopoly central banking, all the way to 150 central banks, the power elite seems in no mood to back-peddle. The IMF is apparently their chosen vehicle to create an international monopoly fiat currency, and it continues to have a high profile.

Conclusion: The IMF is presented as the "firewall" that can contain the European conflagration. Eventually the IMF's SDR "currency" shall be elaborated on, perhaps sooner rather than later. The European crisis is a kind of shadow play and the IMF and its money are likely being positioned as a solution ... if not THE solution.

Turd Ferguson's picture

Good point

MODERATOR

I need to check in with him. Perhaps I'll be able to track him down early next week. I'll keep you posted.

Response to: Where's Winston?
boil_in_the_bag_rice's picture

Thanks Turd

Don't sweat it Turd. Long and strong.

To brighten up your day, here's a pic of my online ad selling concert tickets.

ActionFive's picture

But

They are lowering the silver margin./sarc/

They ran over the short money and ran it to 1660. They loaded shorts all day at 1660. Then they suckered longs with a rally and margin talk. Then they loaded more shorts until Bernanke speech- to sell it all.

You have to be suspect any rally that isn't green bars laminated with a red bars - until they flush that too. LOL

Maryann's picture

Stacking ammo...

You can watch live coverage of the NRA convention here:

http://www.nranews.com/#/nranews/text/generic_page,480

They have an awesome line-up of speakers for the weekend, check it out! smiley

Remember that the next president may be choosing up to three supreme court justices...

ari's picture

Today's action

All this up and down, back and forth is meant to fuck with us, to discourage PM holders. Not going to happen.

dropout's picture

Global Digital Currency

Cash tells no tales and leaves no trails. And governments hate that! Can't get their cut.

That's why this push for a 'track-able' global exchange system. One more step on the road to totalitarianism. With Canada (of all places) coming out yesterday with a planned 'chipped' mint card!  

And this is why the powers that be, must smash the owning/holding of physical gold and silver and to discredit them as being a worthless, ancient, barbarous relics! So they may siphon off your wealth, but to do that they must have a way to track that wealth. They won't win. History proves they won't. Gold and silver are forever. 

Spin, Propaganda. Half-truths. Misinformation. Misdirection. Smoke & mirrors. Wash, rinse, repeat. Call it what you like. The commonality is ~ it's all the same, with the same aim in mind. Manipulation. Don't fall for it.

Follow our fearless leaders sage advise - DO NOT TRADE this COMEX cesspit. Acquire the physical and take delivery into your own hands. Thanks Turd. Have a great weekend all!

Dr G's picture

Creating bumper stickers with

Creating bumper stickers with Ms Master's face on it will be a short road to having to sell them out of your office...in federal prison. And then after a short while, when the new stuff is built, they will send you to a FEMA camp. Good luck with that. And I'm not kidding.

On another topic, I have a hunch that gold will close today just a couple of bucks under where it was last Friday. Silver will be 6 cents below where it was last Friday.

So what does that give us? About 1658 for gold and 31.63 for silver. 

bullwhip29's picture

@ Orange

Re: 9V batteries

Did you buy these at 7-11 or something?  I would agree that batteries don't seem to be getting any cheaper (or longer lasting for that matter), but you simply got hosed on these.

http://www.walmart.com/ip/Duracell-4133331248-Duracell-CopperTop-9-volt-Batteries-4-count/14301882

Groaner's picture

Yes my name is Groaner!

I wear that badge proud after today's action.
Ok at 8am on plane.
Just got access to see the blood, sickening.

But it's awesome here.

bernard's picture

I will continue to refine my

I will continue to refine my message to get it just right. This is america no one is  going to jail for putting up bumper stickers. I am thinking:

"Blythe Masters, Financial Terrorist"

Turd Ferguson's picture

Santa

MODERATOR

My Dear Friends,

This week nine board members of the US Federal reserve spoke on the subject of QE, some of them more than one time. MSM has interpreted their message as saying we have QE ready to go but we do not necessarily see it as required.

Consumer Confidence has sundered and all the China bashers are going wild over the possibility that China growth might drop to 5% to 7%. MSM is again hammering the euro. The net result is downside pressure on gold and equities because it is liquidity that floats those boats.

QE to infinity is infinite debt monetization. That is cosmos level liquidity. The sum total of all this MSM news today, truly understood, is that QE to infinity is guaranteed in both the US and in Euroland. It is more certain than death and taxes. Because of this it is better to buy breaks in general equities to trade than sell short equities for investment, and to hold your gold insurance. The manipulators love a day like this because the long side is the side that the gold banks will be on when they makes the most money in the shortest time as they did in 1980.

Long your gold they scared out of your hands by total BS on days like today.

Regards, 
Santa

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