Happy or Terrible?

Let's hope for a "Happy Tuesday".

Just a few items for you to review. First, this great article from Alisdair Macleod which covers some of the same territory that Trader Dan plowed over the weekend. http://alasdairmacleod.blogspot.com/2012/07/managed-money-positions-on-us-futures.html

Speaking of Trader Dan, he was talking about the grains today: http://www.traderdannorcini.blogspot.com/2012/07/grain-index-approaching-2008-peak.html. And so was ZeroHedge: http://www.zerohedge.com/news/putting-corn-harvest-drought-and-flood-context

Santa's pal Eric has written an interesting piece where he discusses several of the CoT trends that we've been covering ad nauseam here. http://edegrootinsights.blogspot.ca/2012/07/this-major-fed-move-is-about-to-create.html

And the LIEbor scandal continues to grow. HEEHEEHAHA! Just for fun, here are two articles which mention two of the primary forces behind The Evil Empire, JPM and HBSC. 

Lastly, one final bit of fun from FreedomFest. While I was strolling the floor on Thursday, I ran into Kerry Lutz of the Financial Survival Network. He asked if I could spare a few minutes and I gladly obliged. Here's the link to the 5-6 minute interview. http://financialsurvivalnetwork.com/2012/07/turd-ferguson-everyone-should-be-buying-precious-metals/

That's it for now. Regardless of paper price shenanigans, I hope you personally have a Happy Tuesday!

TF

297 Comments

Hillsie's picture

First?

Surely not

kingbee4's picture

Wee hours of the morning.

Wondering what the Turd's reason for being up so late at night.  I hope it is better than mine.  But thanks for the links.

Maradona's picture

Turd why are posting around

Turd why are posting around this time?

Ivars, I thought you took your cash long time ago...

Excalibur's picture

Katie Rose

Perhaps a small venture on the side could be working/learning holidays for fellow Turdites. They learn about keeping hens and goats and cheesmaking etc and do some of the (hard) chores. They contribute ounces silver for the experience, which you can keep or turn into hay.

Everyone wins. 

(If Turd posts more often at this time I might even get a crack at the top spot. It's breakfast time for me and most of the competition are asleep wink. Congrats to fellow Brit Hillsie who will be suffering from the shock all day).

El Gordo's picture

OK Team

It's time to get cracking this morning.  Blythe is having her first cup of coffee and thinking about what to tell the monkeys this morning.  Obama is consulting his astronomer or his cosmologist or something while Hillary and Bill plot their come from behind takeover.  The moochers and dealers are getting home from work and looking forward to a good day's sleep.  Yes, it's time for another day to get underway, so let's hit it....

Carpe diem

bernard's picture

Turd do you have any pics from FreedomFest?

Did you have a booth there? I was trying to make it out but honestly glad I didn't, I heard you had to shell out a ton of extra cash to see Napolitano. 

In regards to the metals markets, who can know? My friends, we are at a very despicable and volatile time in history, where we are systematically watching the dismantlement of everything that made this country great -- the ingenuity and drive of small time entrepreneurs. Almost everyone was at one point just a small guy.  Just remember folks -- "You didn't create that success, you didn't do that for yourself. Other people did that for you!"

Last I checked, I was up till 2 am trying to work on my website, as is Turd... 

Everyone stands on the shoulders of giants, but where has the Drive gone? Where is that burning bleeding passion to better oneself and eek out a legitimate and decent living in this world? Everyone is too damn entertained. But I also fear the worst-- that technological advancement of society combined with financialization has permanently screwed the pooch here. We need less "real" workers, and we have more of a SKIM job going on now than ever.

I just want to say that I love every last one of you, every single one of you human beings out there who is awake to the situation, who ponders the situation daily, and who tries still to live every single day to the fullest with a smile on their face. It can be a burden and very disillusioning, but I commend you all to stay positive in your life and outlook.

Stack em, pack em, and rack em.

Your friend,

Bernank

www.comparesilverprices.com

Hammer's picture

Turd, I can't believe you

Turd, I can't believe you actually said, "better, stronger, faster !"............lmao !!!!! You asked for it but you forgot to mention "harder" oooo err missus......choose whichever vid suits the soul.

thesandbox's picture

RE: Turd posting at this time....

I am sure he just wanted to give Turdites in all parts of the world a chance to be first....because that's just the kind of guy he is. ;) First this morning from Casablanca!

Sisyphus's picture

ZIRP forever?

A guy on CNBC Asia (a fairly sensible lot) said last night that a negative interest rate policy could be on the cards for 10 or 20 years. This way savers get creamed and the money effectively reduces the national debt.  Negative rates are bad for cash savers (obviously), bonds, whilst the stock market just moves sideways. It's good for gold, silver and property. Just thought I'd pass that on, sorry for not having more details but it was 2am here.

Meanwhile silver prices struggling to hold above 27.5. Last night they hit 27.49 and then slumped!

Top 5 stocks on the Ozzie index Monday were gold miners. Turnaround in sentiment?

I feel vaguely optimistic today, despite Bernanke. Must be the pills.

achmachat's picture

happy or not....

...at least it's different!

since when didn't we have a real spike in the London morning hours anymore?

even if it was partly due to a jump of EUR/USD.

sixdollarsilver's picture

thanks TF

for all you do

thesandbox's picture

HSBC

Any ideas if all the new allegations against HSBC might just be some sort of retaliation against the "new Sheriff from the East"?????

ivars's picture

Now I am worrying how to find

Now I am worrying how to find a relatively secure bank? Or shall I cash out tomorrow whatever is there? Could someone advise? What if some chain reaction in banks related to derivatives finally starts, where to look  for those less affected,as not ALL will collapse at the same time. I can understand deposit guarantees will mean nothing very soon.

We have Swedish, Danish, Norwegian banks, Unicredit here.

ivars's picture

GSR moved further sidelines,

GSR moved further sidelines, a good sign for silver, but not enough to break the uptrend support shown here:

http://www.tfmetalsreport.com/comment/189064#comment-189064

But as GSR moving sideways now, flattening the top,  so there may be an attempt to break the support this time . Breaking that line convincingly means that silver will start to rise visibly. One more attempt is ongoing even as silver prices are flat and boring.

The fact that GSR had risen while silver price remained intact and then if GSR moves sideways and down might mean that the initial investment in gold has actually already happened since May 16th, prices being somewhat  muted by high USDx values, but all in all gold charts looking slightly better than silver; and now its time for silver to catch up and pass by. Just an option that comes out from GSR, still not visible how fast /slow that may happen.

Also, the 50 day MA for silver is now 27,82, while current price is (as I write) 27,53.  Silver  could bounce off 50 day MA, it may also cross it very soon, inviting new participants to buy, but that is a significant number which was last crossed to the downside on March 14th, 2012, when silver price was around 32,9 .

SIlverbee's picture

The first of Many

Check out the DJ booth in the Daft Punk video; look familiar?

recaptureamerica's picture

S&P 500 Nears ‘Ultimate’ Death Cross: SocGen

recaptureamerica's picture

US Economy Goes From 'Hero to

US Economy Goes From 'Hero to Zero'
http://www.cnbc.com/id/48205608

Sounds like Disneys Hercules...

recaptureamerica's picture

How Close Are We to New Great

How Close Are We to New Great Depression?
http://www.cnbc.com/id/48193471

One reason to keep stackin

recaptureamerica's picture

Grocery prices headed higher

Grocery prices headed higher as drought lingers

http://bottomline.msnbc.msn.com/_news/2012/07/16/12724800-grocery-prices-headed-higher-as-drought-lingers?lite&__utma=14933801.657980731.1342514961.1342514961.1342514961.1&__utmb=14933801.2.10.1342514961&__utmc=14933801&__utmx=-&__utmz=14933801.1342514961.1.1.utmcsr=(direct)|utmccn=(direct)|utmcmd=(none)&__utmv=14933801.|8=Earned%20By=msnbc%7Ccover=1%5e12=Landing%20Content=Mixed=1%5e13=Landing%20Hostname=www.nbcnews.com=1%5e30=Visit%20Type%20to%20Content=Earned%20to%20Mixed=1&__utmk=178442532

Another reason to keep stackin

recaptureamerica's picture

Canadians richer than

Canadians richer than Americans for first time in history
http://www.dailymail.co.uk/news/article-2174668/Canadians-richer-Americans-time-history.html

And another reason to keep stackin

recaptureamerica's picture

Donations?

recaptureamerica's picture

France's proposed tax hikes

France's proposed tax hikes spark 'exodus' of wealthy
Looming tax hikes by France's new socialist government have triggered an exodus of the Gallic super-rich to 'wealth-friendly' nations like Britain and Switzerland.

http://www.telegraph.co.uk/news/worldnews/europe/france/9404209/Frances-proposed-tax-hikes-spark-exodus-of-wealthy.html

recaptureamerica's picture

When bankers get nervous,

When bankers get nervous, watch out
As economies worldwide weaken, the pressure is rising on the world's central bankers for dramatic action that will ultimately do more damage. When that happens, the gold rally is on.
http://money.msn.com/bill-fleckenstein/post.aspx?post=23c64e21-4e78-4648-84f2-3e80ec0a3dd8

Xty's picture

Good Morning

took me a long time to catch up on all the excellent prepping talk - lots of good info in that last thread - from a better way to freeze tomatoes to ordering dried poppy pods (for floral arrangements of course) - and the alarming fact that someone claimed to have two years worth of toilet paper, if I remember correctly.

re safe banks - Ivars - there aren't any, really.  It is an interweb of disaster, and they are almost all connected.  If you can find a truly local bank or credit union (maybe a North American thing?) that is the best bet.  But check who actually owns them.  We have diversified, but that is about it.  Except for not keeping much cash in the bank - PM's are our cash, to anyone who understands me when I talk to them, even though we have yet to sell (lost it all in the rapids) - and we keep a small amount on hand.

And Canadians richer than Americans?  I no longer believe this is a good thing.  The kind of 'riches' we have been trained to love are beginning to freak me out.

and finally, yes, the Bernanke is to speak today:

Gold closes flat ahead of Bernanke speech

.

Gold futures have ended flat as investors marked time ahead of two-day testimony by Federal Reserve chairman Ben Bernanke.

The most actively traded contract, for August delivery, settled down 40 US cents at $US1,591.60 a troy ounce on the Comex division of the New York Mercantile Exchange.

Expectations of Federal Reserve policy actions kept gold prices mired as investors were unwilling to make large bets in either direction ahead of a key monetary policy update from Fed chairman Bernanke.

...

http://www.businessspectator.com.au/bs.nsf/Article/Precious-metals-close-lower-W9SQQ?OpenDocument

​So strap down the kids and get out the popcorn - as the whole world has to wait for the pearls of wisdom to drip from the mouths of swine.  He has become the face of evil to me - that blank look and trembling lip as he lies to himself and the rest of us to satisfy his masters.  Not that I am bitter or anything - one of the many things I cannot fix at the moment.  So I am going to worry about stacking kibble for the Queen of dogs, Mouse, who ran out of duck strips last night and is not impressed.

Groaner's picture

So we will probably see the usual smack down today

because the Fraud Master, Bernank is speaking.. 

Anyone have a tally of what happens to the metals everytime there is a FOMC meeting or notes read?

Not good I think..

Let's see what has been exposed over the past 20 years.

First we found out the leaders of the churches are all perverts who molest little boys, no problem.

Then we find out wars are fought only to enrich the Bankers and the war industries while the Leaders lie and use flimsy excuses to start them.

Then we found out that our Capitalist economy is designed to make a few extremely rich while it makes the rest at the bottom of the food chain poor, no more middle class.

The best is that the legal system has two standards laws for the 99% and none for the 1%.

Finally the result is a Criminal banking system that has destroyed the economies of the world that will never be brought to justice..

Please fill in the blanks where I missed a whole bunch.

I dont know a lot but what I do know makes me mad as hell!

Xty's picture

there was a time when gold rose as Bernanke spoke

in fact, it was a dollar a minute, when he announced the big stimulus.  No one is expecting it anymore, even though it has been inevitable, so maybe this is the moment?   Actually, many wise people, some of them Turdites, have been predicting an announcement of further easing now, and I am with them.  I still believe the Fed will try to save Obama by 'saving' the housing market - some sort of mortgage buying programme, probably.  Or maybe just negative interest rates, which they are convinced will force the banks to lend - but to whom?  The only ones borrowing right now are governments - a cluster-somewordthateludesme if ever there was one.  Or more of nothing but the now comical caveat that there are tools they could use if necessary, and then hints from various fed officials that more printing and shrinking the money supple are both just around the corner.

Groaner's picture

Gold and silver rose very nicely for years without any QE

The money supply has increased astronomically by the Feds backdoor covert moves, trillions going to the banks, etcs thats never announced. 

To me the only explanation why gold and silver have not been rising is extreme manipulation, not deflation.

They are like coiled springs.. ready to explode when they have to let them lose.

tpbeta's picture

Today

I predict small waterfalls, but will not breach resistance.

ivars's picture

Xty- no safe banks

I have to get used to that idea before taking action. Hopefully I will  do it before the calamities begin. People here are much less exposed to processes in global finances, including my family.

I think Svenska Handelsbanken is one of the safest traded banks in the region- anyone heard of it:)?

There are no press, analytics, gurus , TV shows, blogs in Latvian that would be of any value/quality, and besides, people still does not understand basic things about capitalism or whatever it is we are living now in as most of people had lived biggest part of their lives in Soviet Union.

Personally, I think 2012 will be relatively calm still in terms of banks ( I hope) , but with recession/credit crunch 2013 will be interesting. But that is of course playing a bit with fire, trying to time things.

I do not think Bernanke will say anything that will do significant good to PM's - more likely USDx will go up after dust settles. And then he will have to act. I mean, perhaps its good for him to say things that force him to act. Right now there is not enough pressure. Pushing USDx up at 88 by saying no QE soon would be an obvious excuse to start QE soon.

murphy's picture

random dots

More of the same from Bernank today When QE comes it will be from a Fed meeting or a surprise leak before a Fed meeting.

Groaner you are on the money. It's all manipulation. Sprott's not buying his phyzz from the paper market. He's going directly to the miners. For all we know when he buys size, he could be paying a premium over the bs paper price. And what about all the Central Banks buying? Do we really know what they are paying when Mexico buys 100 tons and Vietnam buys 25 tons? And that goes double for China and Russia who don't even comment on what and when they buy till after the fact.

OAN- I think Steed and Rocky posted something about why are the law breaking banks  suddenly news? I also was thinking the same thing.

LIBOR - 14 of the 18 banks probably complicit

HSBC- all of a sudden a 400 page report over an investigation of a few years of money laundering?

JPM- same thing

Banks laundering money is not new news. Iran Contra/ Panama/ CIA crack sales in the 90's/ Afganistan poppies (not dried flowers).

They are just setting the table very slowly for a new world currency a few years down the road.

By the way, where has Jim Rickards been the last couple of weeks? He has been very quiet.

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