Sing It Like Maureen

A nighttime raid and a new day dawns.

Just a few items today as MrsF has designs on my time. An entire day of Christmas shopping awaits and I plan to take the excursion without my phone and the ability to check the "markets".

Last night's devious attempt to run the sell stops below 1705 succeeded in tilting the charts bearishly this morning. Whatever. I couldn't care less. I do continue, though, to find it amusing that every time we get an unexpected raid for $20 in gold, the same old trolls and naysayers show up. I'm not sure what they're trying to accomplish. First of all, why would I or any of you feel foolish for being bullish in the face of the fundamentals? Additionally, by blasting me as a "cult leader" etc, they seem to think they can discourage me and get me to shut this site down. Uhhhhhhh....let me make this perfectly clear: I ain't going anywhere. The Cartel can raid and manipulate. Their disinfo agents can plant seeds of doubt. Their dupes and shills can lie and deceive. Whatever. It doesn't matter. The facts are what they are and the fundamentals do not lie. Please utilize this time and these distorted, low prices to add to your stack. Physical metal is your only protection against the ongoing destruction of paper money.

Maybe these trolls are frustrated paper traders who get angry when the free chart analysis I offer doesn't work out as planned? Look, I do my best. I not only try to give you an explanation for what has happened but I also try to predict the future. Sometimes it works, sometimes it doesn't but everyone needs to keep these two things in mind:

  1. Not even Nostradamus could have warned you that at precisely 7:55 EST last evening, some weasel on a trading desk would institute a naked sell order with the intention of blowing out the sell stops.
  2. I don't even trade anymore. Yes, I have a small handful of long-term options but I have practically begged all of the traders that frequent this site to use Andy Maguire's trading service. Given the unprecedented desperation of the manipulation, you are absolutely crazy if you are attempting to trade the metals without his guidance.

OK, back to the business at hand. Since there is such a dogged determination to keep the metals down, we'd best be aware of the support levels and where price could head if those levels are broken. For now, the lows of last week are holding and that is certainly a good sign. However, as seen last night, The Evil Ones can emerge from the shadows at any time, day or night, to blindly raid price. Please use the charts below as guidelines for dip buying.

Finally I leave you today with the reprint below. I wrote this on Saturday, November 3rd, after the metals had been savagely beaten the day before. Gold was at $1675 and silver was under $31. Like today, many were fearful and the AGAs and trolls were everywhere. The message is simple: Any fight worth winning is going to be challenging and we don't take on this endeavor because it is easy, we take it on because our destiny requires it. Setbacks and frustration come with the territory but we must persevere. Keep the faith. Be strong. Vindication and victory will soon be ours.

TF

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http://www.tfmetalsreport.com/blog/4296/defiance

Well, you can either give up or carry on with renewed determination. I choose the latter.

These are the times that try men's souls...

Let's see, what do we know for certain?

Quantitative Easing is now a permanent fixture of the financial markets for, without it, the U.S. bond market would collapse and interest rates would reset multiples higher.

  • The U.S. federal deficit will continue to be greater than $1T/year, regardless of the outcome of the election.
  • Later this month and into December, a "lame duck" session of Congress must come to terms with the looming fiscal cliff and well as an imminent breach of the debt ceiling.
  • Further downgrades of the credit rating of the U.S. are likely.
  • The European Union, already tattered at the edges, remains on the brink of crisis and dissolution.
  • Dollar creditor nations, led by China, are rapidly accumulating gold and silver as they exchange their devaluing fiat reserves for hard assets.
  • Dollar hegemony and reserve currency status will, one day in not-too-distant future, come to an end.

I could continue but I think you get the idea. Regardless of the paper machinations of the Comex, physical precious metal remains your best defense against the tumultuous times ahead.

The summer soldier and sunshine patriot will, in this crisis, shrink from the service of Turdville...

I think you know where I stand but where do you stand? Will you now become bitter? Will you be easily swayed by the uninformed and the disinformation agents? Do you have the courage of your convictions to not only find your way but guide others through the darkness?

Yesterday was tough and, worse, unexpected. But don't think for a minute that it was a selloff directed specifically at the precious metals. So understand that there may be more going on here than you think. The situation in Europe is tenuous, at best, and things on the ground in the U.S. aren't much better. For now, the precious metal "baby" is being thrown out with the proverbial "bath water". You should seize this opportunity to add to your stack.

  • With all of the selling in gold and silver yesterday, just whom do you think was taking the other side of that trade? Let give you a clue...it wasn't the specs.
  • Backwardation, as measured by the difference between the futures "offer" and the spot "bid", has reached a level of such extreme that it makes further significant declines highly unlikely.
  • Our friend, Andrew, reports that demand in London yesterday remained "exceptional" and "unprecedented". Though the effects of this physical demand can often by muted on an intraday basis, it nonetheless precludes the bullion banks from exacerbating the moves to the downside.

But he that stands by it now, deserves the love and thanks of man and woman...

I personally promised you a "hot, explosive and historic" summer. It, obviously, did not come to pass and, so far, it has not materialized this autumn. Do not be dismayed. I personally know of several extraordinarily brave and courageous people who are actively working to bring about an end to the blatant manipulation of precious metal price by the Bullion Bank Cartel. With firm reliance upon the protection of Divine providence, I am extremely confident that they will be successful. When they are, not only will the manipulation end but, perhaps, the plundering of Western reserves will slow, as well.

Tyranny, like hell, is not easily conquered; yet we have this consolation with us, that the harder the conflict, the more glorious the triumph...

So, again, I implore you: Do not lose faith and do not suffer from doubt. The end of The Great Keynesian Experiment is indeed upon us and you must continue to prepare accordingly. Do not be swayed by the day-to-day trading of the Comex nor the incessant noise and disinformation supplied by the financial media. Think for yourself. Study the past and the present, then consider the future. Trust your instincts. Believe in yourself and your ability to lead and inspire. Your family needs you. Your friends need you and Turdville needs you. The future demands leadership at every level and we all have a role to play. I will continue to do my part. Will you?
 

406 Comments

Icarus's picture

First?

First? Well that's one thing to be grateful for in this otherwise disaster of day in the market for gold/silver.

We announce the destruction of the currency yesterday and what happens?  The alternative currencies, which are not being printed into oblivion, get hammered.......Trying to figure this out is giving me a brain aneurysm.

Stock_Canines's picture

In up too early

Second

El Gordo's picture

Well, bring it on

New day, come on.  I'm ready for you.  Carpe diem.

twippers's picture

Xmas First

I'll take the first and donate it to Santa

Edit...... sorry santa, someone stole your cookie and milk

philly's picture

Of course, the EE only saw

Of course, the EE only saw yesterday as a chance to rape and pillage...didn't everyone! Of course, I expected the EEs actions and have been granted another opportunity to BTFD! Oddly enough, that seems to have been TFs message yesterday. Now if only some trolling piece of crap would come on here and start making accusations about TFs false calls.

What's that I hear...only...crickets?!?cool

oh yeah...FIFTH!

Terp's picture

And

It's not like the East has suddenly lost interest in buying our Gold...

And it's not like the M.E. suddenly wants peace and everything will be hunky-dory over there.

Temporary beat-downs. Temporary.

Turd Ferguson's picture

Ah, crap

MODERATOR

I forgot about yesterday's Hat Contest.

The closing kitco price for silver was $33.45. The winner, who guessed 33.43, was Turdite "BB".

BB, please email me your shipping info at tfmetalsreport at gmail dot com and I'll put your hat in the mail.

Thanks everyone for playing!

department of truth's picture

The Emperor's Naked (Shorts)

The fascist business model is in full bloom. The Emperors wear their naked shorts for all to see. Who in the press will comment?

TURDITES will

Just A Regular Guy's picture

Maybe not 4th Eh?

Who da f**k was heckling you Turd?
Schmucks......

Iamgolden's picture

just the same old sideways chop

When it goes it is going to be big

Terp's picture

@ BB

Congrats!

Dr G's picture

The Family

And since I'm in such a chipper mood this morning, let me share my thoughts on what will fix every single problem we face in the US. The Family.

No politician discusses it, because nobody dares, but fixing the family will fix all other issues in time. We need full families with a father that is hard working and an example for his children, and mothers that are caring and willing to sacrifice of their time for their children.

Families need to sit around the dinner table in the evening and eat a home cooked meal that consists of protein and vegetables and fruit. They need to purchase those items with the money they earned working a job that they are proud of doing. It will make them feel fulfilled.

We need parents that take an interest in their children and help them each night with their homework. It isn't the teacher's job to raise our children. Parents need to be involved and take an ACTIVE roll in their child's education. Parents should know what their child is learning each day, and if the child is falling behind then they should sit with them at the table and tutor them. Once again, that isn't the job of the teacher.

Fathers should sit with their children and interview them. They should know about their friends. They should know who they are dating. Children shouldn't be afraid to discuss anything with their parents. 

Parents should lead by example and give advice, but not try to eliminate the consequences of their children's actions. Those consequences will mold them into becoming more mature adults with an understanding of right and wrong. Grandparents should be respected and cared for. They have much to contribute by way of story and example.

That fixes everything. Less poverty. Less crime. Less obesity. More jobs. Better educated citizens. A love for country and family. We need to break cycles of poverty and abuse and poor education, and the government can't do that. Not only is it NOT their job, but it is impossible to do. It is fixed by the family and within the family.

So as the politicians continue to argue about taxes and shit that doesn't matter one iota when it comes to fixing anything, they continue to ignore the building block of a stable society. The family.

EDIT: I will add that I think there is plenty of room for a political party to arise, that focuses on what can bring us together and what we can change in our country, rather than be divisive in nature.

Republicans lost this election (don't worry, I hate them also) because their only platform was countering whatever negativity the Democrats said about them. Somebody needs to step above the fray and tell us what they will do to unite us. Ignore the tax questions. Ignore the international policy questions. Start telling us what you will do that will make a difference.

IdahoSilver's picture

Western Buck

I won't be Happy until Silver goes to a Dollar!  We could call it a "Silver Dollar."

SilverTree's picture

Man up!

Last night was weak! $20 off gold and a dollar on silver, whoopde'do. I saw a chap was down $125K last night...Im sure that was money the he was prepared to loose. Man up and push on cause we ain't seen NOTHIN yet!!

Turd Ferguson's picture

Gee, I wonder who did this?

MODERATOR

Keep in mind that Uncle Ted estimates JPM's net short position to by well over 30,000 contracts. IN the face of confirmed QE∞, they are surely desperate to cover as many as possible. Expect great volatility in the days and weeks ahead and prepare to buy and stack every dip.

Turd Ferguson's picture

Got an inkling...

MODERATOR

...that today will see a pretty little FUBM in gold. wink

But what do I know? I'm just a Turd.

cpnscarlet's picture

All that's left...

All that's left to rely on are instincts and fundamentals. Even our most trusted of PM pundits have fallen so flat on their collective faces that the bleeding noses have created a Red Sea.

I'm down to nothing more to say to anyone except "Where else would you put your money besides PM?" Keep stacking if you can...I'm out of cash. Even though I'm still nicely above any personal DCA, this last year has really SUCKED! It's not so much the gains that haven't come, it's the fact that the world has completely gone bad.

The whole system is crooked. The government has abdicated its Romans 13 responsibilities and the people are no damn good. There's not one person in governance who you can voice your grievances too with any expectation of redress. I already told Bart Chilton to go fuck himself and stopped believing in his "good cop" make-believe. My last word to him was "When silver has an UPSIDE day of $1.50, then maybe I'll apologize!"

In a couple of weeks, I'll post the prediction calendar results for 2012. IT IS UGLY and frustrating. All the calls for 2000/60 and "big moves in 3 months" are legion and laughable. No one here can be right because no one is in charge. We are under the boot of political, moral, and financial repression. The only thing a good man can do at this point is draw his lines in the sand.

I would say "pray" too. But I have the distinct impression that NOTHING can stay God's hand from the terrible days of wrath that are to come.

Sorry to be such a downer, but at least I'm being honest.

CPNSCARLET

boatman's picture

Hrunner.................and WESTERN MEDICINE =disease management

Hrur:...............i did read your excellant piece.

*************************************************************************************************

disease management is what we have from western medicine.

there isn't any disease management happening at my house!

******************************************************************************************

where did the school money go?...................try retire after 20 years for the school ADMINISTRATION and teachers.........20 years?.....child please.......

you would not BELIEVE the school stuff i HAVE SEEN thrown away.

the inside of WHOLE schools ripped out and changed to some principals' PET project.............only to be RIPPED out again in a year or two.

Dr G's picture

@Turd, my problem with this

@Turd, my problem with this whole "fight" analogy against the Cartel is that we aren't even in the battle, right?

We are just watching from the sidelines. We aren't active participants. Sure, we have a side we want to win, but us "throwing in the towel" has no effect on the battle. What we buy to stack, or what we trade in futures or options, has no effect on the outcome of the game.

Somehow we as fans, have convinced ourselves that we are on the team. We aren't. We are just watching them on TV.

Terp's picture

zerohedge

Byzantium's picture

cartel invincibility (repost from last thread)

So, they have full control within their hierarchy, of the politicians, the regulators, the police, the judiciary, the accounting & auditing bodies, the MSM & associated media, and every other social and organisational structure that matters. They can laugh at the law because they are above the law. They seem absolutely invincible, just as the Soviet Union did 3 or 4 years before its sudden and total collapse.   

It doesn't mean necessarily that the cartel is close to collapse; but on the other hand, as the fall of the Berlin wall showed us, when change comes, it can come quickly and with little warning.

Fundamentals are like sleeping giants; one day they awake, they just need the right trigger. The cartel is figuratively speaking, sitting in a sea of petrol, having nightmares about matches and sparks. 

As to the criminal leaders of the cartel, they well know that the security of an omni-powerful ruler, such as say Nicolae Ceaucescu of Romania, can change in the space of a single afternoon. We don't know which afternoon it will be, and nor do they. 

Wizard's picture

A Thank You

To the weasel on a trading desk that instituted a naked sell order with the intention of blowing out the sell stops at 7:55 EST last evening.

THANK YOU, i will be heading out soon to my local coin shop to add to the stack.

Tra la la la, la la  LOL wink

achmachat's picture

German precious metals stores

little piece of info:

some of the online sellers stopped lowering their prices after today's smack-downs. 

I guess we can call this a de facto divergence of paper price and physical? ;-)

(some other stores still have the "auto pilot" on for their automatic price updates, which means that as of now, their silver maples are around 0.30€ cheaper than those who refused to lower their prices)

Groaner's picture

like to see 32.80

above that and we break a down trend line for a bit.

1702 on gold

Turd Ferguson's picture

You may not be but I am

MODERATOR

I am well immersed in "the fight" (though my role still seems so surreal) and am not simply observing. My primary job, though, is to take the battle directly to them.

Everyone on this site is indirectly involved because the only, reliable weapon against them is physical depletion. Growing awareness and taking action is critical.

Grublux's picture

Miners

Seem to be relatively resilient in the face of this beatdown

padme's picture

Dr. G, really like your essay

I am sorry to say this but some Americans have no clue how important it is to help their children to learn.  My American in-laws, particularly my sister-in-law  can not stand me because they think I "push" my kids too much. She brags how she is not helping her child at all, saying she will let him fail and embarrasse himself, and her family agree with her. Sometimes I wonder if I am still in the planet earth any more. Good to see a writing like the one you just posted.

Sisyphus's picture

So, maybe only $1,000,000,000,000 then.

According to the MSM financial media, PMs are tanking as they think Ben will stop QE when unemployment hits 6.5%, and this could happen just a year from now. In which case, 'only' $1 trillion extra dollars will be printed.

So naturally all the metals are being pummelled. smiley

Bill of Rights's picture

Blankfein: Borrow As Much As You Can at These Rates Because Inte

http://www.cnbc.com/id/100306183

Blankfein said that Goldman is advising all its corporate clients to borrow "as much as they're going to need for as long as they think they could need it" because of the low interest rate environment.

The sooner than expected "growth" that Blankfein refers to is, of course, Fed manipulated growth, largely the result of money printing that will ultimately also cause price inflation, which will push interest rates higher.

ClinkinKY's picture

@ TF

Couldn't help noticing that your song of the day, "The Morning After" is the theme song from "The Poseidon Adventure".

You know, where everything is "upside down".

I'm going to consider myself Ernest Borgnine, one of the few characters to survive the capsizing:)

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