Wild Thing

Monday, August 20, 2012 at 10:39 am

This is brutal.

I feel as if I'm at a ballgame. Fireworks are planned to start as soon as the game ends and the kids won't leave until they see them. We've been here so long that I don't even care about the game anymore, I just want it to end. But the problem is, the game isn't ending as quickly as I'd like. The home team took the lead in the eighth but now the visitors have tied it in the top of the ninth and as we head into extra innings, the kids are getting restless and the parents are getting bored and cranky. Beer sales ended an hour ago and no one is happy. When will it end? Hopefully, soon! But in a game with no time clock, it's always hard to say with certainty. Sometime soon, though, the game will end and the home team will emerge victorious. Of this, I am certain. We simply need to retake the lead and bring in our closer.

For today, though, nothing has changed so here we sit, grinnin and groanin...

Just a couple of other things to start your week. First, read this article. It's written by Henry Blodget who should be selling cars in Duluth after what he did and the bullshit "analysis" he wrote back in the late 1990s. Blodget was a top "internet analyst" back in the day and was all gung ho for stocks like Worldcom and eToys. Whatever. In America, you simply move on and hope people forget. See Bill Clinton or Al Dunlap. More recently, see Dick Fuld, John Thain, Jimmy Cayne or Jon Corzine. That said, in this article Blodget writes about the common underwriting practice of "greenshoe" whereby the IPO underwriter has the luxury of printing stock to either participate directly if a deal is "hot" or put on a risk-limited short if the deal sucks. As you know, Facebook sucked and the underwriters utilized their greenshoe to profit handsomely regardless.

http://www.businessinsider.com/facebooks-bankers-shorting-facebooks-stock-2012-8

And, in closing, another movie clip. I stumbled across this one over the weekend and thought I'd include it this morning. From 16 years ago but certainly spot on still today.

Have a great day.

TF

Comments

Jan Roos's picture

First?

Submitted by Jan Roos on August 20, 2012 - 10:41am.

maybe

boatman's picture

i am resisiting the impulse

Submitted by boatman on August 20, 2012 - 10:42am.

to say first

Dagney Taggart's picture

I love silver

Submitted by Dagney Taggart on August 20, 2012 - 10:42am.

Yes I do. Sh*t!

Money By Trading's picture

My review--bountiful charts included

Submitted by Money By Trading on August 20, 2012 - 10:42am.

My survey of recent days and my thoughts going into end of month.

http://moneybytrading.com/2012/08/18/weekend-review/

LOUP-GAROU's picture

Thanks

Submitted by LOUP-GAROU on August 20, 2012 - 10:45am.

Turd, all we can do is the right thing and stay on the course, feeling great about all my investments"hard investments"!

Dagney Taggart's picture

@Turd

Submitted by Dagney Taggart on August 20, 2012 - 10:47am.

It hurts when Will Hunting and Debka occupy the same mind.

DrkPurpleHaze's picture

Jimi thanks you...and Major Tom also

Submitted by DrkPurpleHaze on August 20, 2012 - 10:50am.

Thanks for the update yes

All of us want and need 'Blast Off!' at this point...10, 9, 8, 7, 6, 5, 4, 3.....

DrkPurpleHaze's picture

Syria over the weekend

Submitted by DrkPurpleHaze on August 20, 2012 - 10:55am.

No translation necessary...frown

waxybilldupp's picture

In the interest of "Community"

Submitted by waxybilldupp on August 20, 2012 - 10:56am.

Happy Yukon Discovery Day, Xty!

wax off

CaribSurfKing1's picture

25 trading days left till the end of summer

Submitted by CaribSurfKing1 on August 20, 2012 - 10:59am.

Until Bernanke announces QE, its sleepy time!

Rickards thinks end of Aug!

Look for  to signal  on Aug 31st at , then deliver on Sept 13th after . It’s a new dance; “Jackson Hole Two-Step.”

proformatrillionaire's picture

Henry Blodget says

Submitted by proformatrillionaire on August 20, 2012 - 11:02am.

Silver Wheaton to $ 1,000 per share. That is pretty much all he said back in the late 90's then the stock would rocket almost to the level he spouted. What a delta bravo. It seems like precious metals today works totally opposite to the late 90s Blodget system. 

Cleburne61's picture

From Silverdoctors

Submitted by Cleburne61 on August 20, 2012 - 11:03am.

http://www.silverdoctors.com/canary-in-the-coal-mine-for-silver-manipulation-pboc-adviser-recommends-china-add-silver-to-official-reserves/#more-11856

We have heard reports from Andrew Maguire that a tiny 10 million ounce physical silver order in London took several weeks to be filled, and when the order finally arrived it had clearly been sourced from the SLV.
Anyone believe that the SLV holds enough physical silver to satisfy demand for silver as a CURRENCY RESERVE FROM CHINA!?!

This perhaps is another secret the Turd was privy to, but couldn't divulge yet.

If this is true, and who could doubt its likelihood, then the game is over, and there is no more silver left in size anywhere.

If we get another sell-off at Jackson Hole, I hope you're smart enough to cram the maximum amount of phyzz you possible can.....into that hole.  Bernanke and criminal Fed: we've had enough of your screwing around with humanity.  It's humanity's turn to be its own central bank.

Nana's picture

TLC

Submitted by Nana on August 20, 2012 - 11:04am.

Tons of

Liquid

Cash

Will vaporize soon out of IRA's, 401K's, the markets, bank accounts, savings accounts.......

Time for hard assets.......

The Green Manalishi's picture

Jim Willie

Submitted by The Green Manalishi on August 20, 2012 - 11:06am.

Jim Willie in his latest report this weekend mentions the missing allocated gold in Switzerland that could be the Firework moment.

Can't wait!

Mickey's picture

interest rates

Submitted by Mickey on August 20, 2012 - 11:07am.

10 yr has moved from 1.42 to 1.85%--since bernanke wants to keep low rates that may be the issue at hand. Its certainly not employment or inflation which are the triggers.

There are no metrics with the Fed-Its who you know, not what you know.

a_guy_in_hainesville's picture

A LOT of extra innings

Submitted by a_guy_in_hainesville on August 20, 2012 - 11:09am.

I don't know if I am looking at it correctly or not but it looks like there are MONTHS to go based on the chart in gold.  So that looks like Oct at best when those lines meet.  That would seemingly be past the explosive summer a lot of posters and websites have talked about.

Am I looking at it right?  Is this ATL-PITT from last year?  (ie LONG baseball game decided on a blown call)  We were in U2 for the last US show of that tour so I remember it.

admin's picture

Turd Ferguson wrote: It's

Submitted by admin on August 20, 2012 - 11:11am.

Turd Ferguson wrote:

It's written by Henry Blodget who should be selling cars in Duluth after what he did and the bullshit "analysis" he wrote back in the late 1990s.

Amen.

Nana's picture

Watch Out For A Silver Breakout Higher

Submitted by Nana on August 20, 2012 - 11:13am.

http://www.321gold.com/editorials/handwerger/handwerger082012.html

Nana's picture

Paul Tucker warned banks they could collapse 'before Christmas'

Submitted by Nana on August 20, 2012 - 11:15am.

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/9484419/...

Bank of England deputy governor Paul Tucker warned banks they could collapse 'before Christmas'

Bank of England officials were so concerned about the potential for a financial crisis late last year they took the extra­ordinary step of warning the entire banking system could collapse “before Christmas”.

DrkPurpleHaze's picture

650+ yr. Historical Gold/Silver Prices & Ratio's

Submitted by DrkPurpleHaze on August 20, 2012 - 11:15am.

660-year Gold/Silver Ratio.
Yellow line is Gold/Silver ratio since 1334, showing a historic ratio of 16:1 for about 500 years600-year_goldsilverratio.gif

650-year gold priced in 1998 dollars.

Go here if you can't see the whole chart

http://politicalmetals.files.wordpress.com/2011/04/600-year_gold.gif

600-year_gold.gif

babaganoush2307's picture

(Fed): CLEAR!

Submitted by babaganoush2307 on August 20, 2012 - 11:15am.

programs20120121104147747.jpg

Turd Ferguson's picture

The game is not determined by the chart

Submitted by Turd Ferguson on August 20, 2012 - 11:16am.
MODERATOR

It is, instead, in the hands of the players, who sometimes are a little more deliberate than initially anticipated.

jonoso's picture

good will

Submitted by jonoso on August 20, 2012 - 11:17am.

this is why i bought my own hollow up in the hills of tennessee  and have my own water source  and a cave to hide my silver!!!!!!!!!!

Nana's picture

Banks Can Legally Steal Customer Funds From Private Checking Acc

Submitted by Nana on August 20, 2012 - 11:19am.

http://occupycorporatism.com/banks-can-legally-steal-customer-funds-from...

In federal court, John D. Tinder, US Circuit Court Judge ruled “that Sentinel failed to keep client funds properly segregated is not, on its own, sufficient to rule as a matter of law that Sentinel acted ‘with actual intent to hinder, delay, or defraud’ its customers.”

This means that once a banking customer deposits their money into an account with a bank, the funds become property of the bank. The customer, at the point of deposit, relinquishes all rights to that money regardless of any laws in place, legal assurances, claims or guarantees; and this extends from investments to private checking accounts.

Once the bank has physical possession of your money, they own it and can use it for any means they deem fit. The veil has been lifted on separation of customer and bank funds. They are now legally co-mingled.

The bank could use it as collateral (as SMG did), to pay off debts, or place it on the stock market to bump up their trading with extra cash. And in the event that the customer allocated funds are lost, the bank does not owe the customer the money back.

Essentially, once your deposit money in your bank account it is gone.

SIlverbee's picture

check silver!

Submitted by SIlverbee on August 20, 2012 - 11:20am.

Check silver!

balz's picture

WTF silver

Submitted by balz on August 20, 2012 - 11:22am.

Nuff said.

ReachWest's picture

Away Silver - up, up you go!

Submitted by ReachWest on August 20, 2012 - 11:22am.

Away Silver - up, up you go!

proformatrillionaire's picture

Nice FUBM

Submitted by proformatrillionaire on August 20, 2012 - 11:23am.

Let's keep this going.

SIlverbee's picture

28.45!

Submitted by SIlverbee on August 20, 2012 - 11:23am.

28.45!

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