I guess now the R-republocrats understand how the D-republocrats felt eight years ago.
In 2004, George W was re-elected as POTUS. D-republocrats were incredulous. How could anyone, in their right mind, vote to re-elect the guy who:
- Failed to stop the 9/11 attacks.
- Failed to find OBL in the Hindu Kush.
- Began a war with Iraq ostensibly because of their stockpile of weapons of mass destruction.
- Did not find any weapons of mass destruction in Iraq.
- Declared "Mission Accomplished" in May of 2003 then saw the war worsen in 2004.
- Had overseen a stagnant and flat economy while turning the "surpluses" of 1999 into deficits.
Hmmm. On their side, the D-republocrats had decided to nominate a stiff from Massachusetts who toed the old party line and hoped to coast to victory. Sound familiar?
The moral of the story is this: In the U.S.A., it is very difficult for a challenger to unseat a sitting president. The American citizenry is equal parts cautious, apathetic and downright stupid. And, in the end, they often vote as if "the devil you do know is better than the devil you don't". The incumbent won again. It's as simple as that.
So, what does this mean for all of us here in Turdville? Please do not despair over the action in the metals today. Remember, the manipulating banks NEVER allow the appearance of cause & effect or quid pro quo. A $100 rally in gold today, immediately following Election Day, would be too obvious. Additionally, after the squeeze of yesterday, the somewhat-panicked shorts are desperate to re-gain momentum to the downside. Whatever. Let om.
Just the buy the freaking dip. Things are about to get really crazy.
- A lame duck session of Congress is about to begin where extremely contentious debates will be held in an attempt to avoid the "fiscal cliff" and"Taxmageddon".
- The debt ceiling will be reached in December or January and another credit rating reduction looms.
- The next FOMC meeting in December will almost certainly detail the final numbers for QE∞ and, once Operation Twist ends next month, the true size and scope of the printing will finally be known to all.
So, if you ask me whether or not I give a shit about gold and silver being down today, I will give you an emphatic "NO". The situation in the U.S. and the world is only going to become more tenuous and grave over the next 2-4 years. Your only option is to continue to plan and protect yourself and your family. Physical gold and silver are the only financial protection you have. Buy some today.
p.s. MrsF's surgery went well yesterday and I am leaving soon to bring her home. Thanks to all for the well-wishes and prayers.
p.p.s. This is the final thread where I am going to allow the venting of political glee or frustration. Tomorrow, it's back to the business of trading, stacking and preparation.
p.p.p.s. And just because I mentioned "Bush" and "9/11" in the post above, please don't post a bunch of 9/11 conspiracy stuff here. We have a forum for that if you're so inclined. http://www.tfmetalsreport.com/forum/2094/911.