Marking Time

While we await word from The Bernank and his Goons, here's some stuff to help you pass the time.

As you likely know, there's an FOMC Meeting going on. It wraps up later today and The Bernank will then issue his "Fedlines" at 2:15 EDT. What will they say? Will there be something contained therein that initiates a short-covering rally? We'll see...

In the meantime, here's some stuff to keep you amused. First, I was interviewed twice yesterday and both links are below. Though I'm still just a dope with a Macbook, there might be a few nuggets in here worth noting. The first interview was with Jason Burack of http://www.wallstformainst.com/. It's about a half hour in length.

Then, last evening, Rahul at http://www.altinvestors.com/ spoke with The Doc and I again.

Lastly, I've posted a few links from "Trader Garrett" before and here's another. In this post, Garrett sees many of the same things we see here and projects some optimism for the days and weeks ahead.

http://marketpendulum.blogspot.com/

That's all for now. I'll be back with an update after the Fedlines.

TF

2:30 pm EDT UPDATE:

<yawn>

I could recap the Fed non-news but why bother? Instead, here's something fun. From my pal "Big Red" in Virginia, "Prepper Rock"!!

334 Comments

Mr. Fix's picture

First Again!!!!!!!!!!!!!!!!!!!!!!!!!

Lucky me!

Just a thought,

But with all of the talk about the price of gold and silver,

There is something I am curious about.

If the good folks trying to play the paper markets suddenly lose confidence in them,

Wouldn't the price of silver and gold tank to the point of approaching zero?

Seriously, what if nobody buys paper anymore?

I'm thinking that it is inevitable that the price of gold and silver will crash massively.

Of course, there will not be any for sale at that price,

In fact it will probably simply be removed from the market.

Therefore, if you don't buy it before the crash, you will never get any.

ReachWest's picture

Thanks Turd.

Thanks Turd. Looking forward to whatever glorious bafflegab the Fed has for us this afternoon.

BM and her monkey boys are no doubt plotting how to fleece us all after the Fed announcement. Perhaps it's their turn to be fleeced?!

abguy4's picture

A thought for the Day

523149_10151005796402967_270610187_n.jpgAm8.gif...

Mr. Fix's picture

Oops,Freaky double post.

Seriously folks,

Has anybody given any thought as to what exactly will set the price of gold and silver, after a COMEX default?

I am sure there will be a moonshot in their future, but wouldn't that be almost by necessity a black market?

I'm still in the Jim Willie camp, that says, that we will not see our massive and explosive move upward until after a systemic collapse.

And there is no doubt In my mind that that collapse is coming very soon.

Turd Ferguson's picture

Do you think someone wants to keep silver under $32?

MODERATOR

Ten_of_Swords's picture

If you don't hold it you don't own it.

Here are 500,000-600,000 reasons to take delivery of all of your metals purchases:

http://silverinvestingnews.com/14271/2nd-indictment-in-unfolding-multi-million-dollar-silver-ponzi-scheme-investment-fraud-scam.html

Not even  a licensed broker?  Who needs a license when you aren't trading?  I believe that this is only the beginning of the paper unwind.  More people need to see this to understand that the paper game is just that. 

¤'s picture

FOMC Today

I expect nothing bullish out of todays statement except for a reaffirmation that they'll continue to do what they're doing ($85 bln/month) and hold out the notion that they stand ready to do more dependent on economic/employment conditions as warranted. Same old, same old.

They just announced that MBS about a month ago so I don't see any major announcement of more stimulus or asset purchases 2 weeks before a Presidential election.

However, December is a whole different matter. I'm waiting to make a small silver purchase today and waited out Friday and Sunday nights push down's into the 31.50 area twice now. I'll be ready about 2:00 p.m. today with an order lined up. I think $31 is possible but not for very long.

Hopefully I'll have to refresh my waiting order to get the smackdown price right after the non-announcment sends a small shiver through silver/gold. I could be very, very wrong and Ben throws a ceremonial World Series hard, inside curve ball to the market and surprises everyone.

Election considerations looms large in this announcement today I think. There's always next month for some type of Fed action post election.

Most_Interesting_Bernanke.jpg

benny_bomb_boom's picture

so we take a look at the big 30 again

of course this thing dives pregame and benny has been providing the bombs to make the fiat price go boom. lets see if he holds true to form. watching here. even if i am working. provident gainesville and monarch are up just in case ;D

Dr Jerome's picture

Fedspeak today?

Must spank metals in the morning, wash out some longs before the Bernank sophistry-fest begins.

malejandro's picture

Tired!

im sooo dam tired of this BS....freaking economy is falling apart, we have QE to infinity....and gold/silver on a downhill racer.?! BS!! BS!! BS!.

Beastly Stack's picture

OIL

Could we see sub 85 today?

2 weeks until the Election to get it down below 80-VERY REAL POSSIBILTY!

Capt. Willard's picture

Under which header do we file Wynter Bentons predictions?

A.   Attention seeking 

B.  Misinformation outlet

C.  Underdelivering hype artists

Although "sentiment: strong sell" was actually true

prius_driver's picture

The 2012 Wynter had a

The 2012 Wynter had a different username from the earlier Wynter.  The new one had replaced an O with a 0 (letter o with number 0).

Bugzy's picture

Starting to feel restless

This extended drift lower in prices is disturbing.

Tiring even - in fact, bordering on exhausting. My main problem is; I don't get it.

Everything, and I mean everything, screams for precious breakout. Too many trapped bollock naked in shorts? (there is a nice oxy moron).

Are the shorters really so deep in the shit? Searching for answers.

Bugzy

Groaner's picture

Get in line, it forms behind me..

double exposure

Groaner's picture

Get in line, it forms behind me..

Groaner's picture

Russel says the Bernank is throwing in the towel

Stepping down since his policies dont work.. duhh, no kidding.. At least for the 99% of us that is.

dropout's picture

Grant Williams Latest Offering

Fresh out, this video. A must watch for sure. Just the charts are a treat!

Zoltan's picture

@Prius

That statement is incorrect and has  been dealt with in the forums.

Also for the "kid in the parent's basement" crowd, WB posts go back to 2002 and deal with markets and earnings.

Now as far as the "deliberate disinformation agent" versus "failure to deliver (again)" debate, I think the jury is still out (it is for me anyway).

Z

murphy's picture

for everyone

that doesn't buy all their books from Amazon

The retailer investigated the issue, and then disabled all 7,000 PIN devices in use at its nearly 700 consumer stores on Sept. 14. It then recalled all of the devices for physical inspection and determined 63 devices, each one from a different store, had been tampered with. Stores affected were in California, Florida, New York, New Jersey, Rhode Island, Connecticut, Massachusetts, Illinois, and Pennsylvania.

http://online.wsj.com/article/SB10001424052970204425904578075442658778634.html?mod=WSJ_GoogleNews&mod=igoogle_wsj_gadgv1

Just A Regular Guy's picture

Greg Smith on Bloomberg with Stephanie watever.....

Seriously, what a f'ken cow. She interrupted every 20s and was doing exactly what the status-quo want her to do - character assassination. I guess that's why she's a journalist right?

Mr.Smith made some decent points and she just raised her voice and cried like an injured little puppy 16 year old.......

If I were M.Bloomberg I would be very irate at Stephanie whatever's effort there.

Peace.

Sisyphus's picture

Tedium

ot Te Deum

Katie Rose's picture

Serious question here...

I keep hearing about a coming "Gold Standard" where world currencies will be backed by some percentage of gold.

Bullion banks and nations are purchasing gold and taking delivery at record rates.

Where do you think silver will be in the scheme of things?

Will it be relegated to industrial use only?

Will it be used as a store of value within the new "Gold System"?

Will it return to its historic ratio of 15-17 oz per oz of gold?

Gold, gold, gold is what I hear.

Yet silver, silver, silver is what I have.

I've no doubt that those with gold will win hugely.

What do you expect to happen for those of us with silver?????

Anyone?

Slick's picture

@greg smith Bloomberg

Funny coincidence that CNBS had Blenkfein on just now too making mention of the Greg smith publications. Not much to say about it except for:

F.U. Blankfeind!

50Jim's picture

US market

Has someone figured out how many up-days there have been in the last 13 months.   It feels like you could count them on one hand.  And every day someone is going to speak, some numbers are coming out.   My God when will this end.  

I was expecting a great summer.  Then a great fall.  I better quit writing ,  I am depressing myself. 

El Gordo's picture

Know what's going on?

Sometimes I think I would like to know and understand what is going on, but I'm afraid that if I did I would be scared to death.  Ignorance truly is bliss.

Just A Regular Guy's picture

Whipsaw time

Are we off and racing? smiley

Groaner's picture

They have their HFT computers rigging the metals prices

on high speed, that they had to hire more Harvard grads to wave towels on the servers to keep them cool..

pukers. Look at the volumes they are throwiing at the metals.. man, they are stinking desperate.. to keep the ponzi scheme going at any cost.

benque's picture

50 Jim, Here it comes

Here comes your 19th nervous breakdown...this Month.

Groaner's picture

good video.. hits the nail on the head

got gold?

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