It's RamaHanuKwanzMas Time!

While we wait to see if Tuesday will play out Happily or Terribly, it's time for today's holiday treat. Designed to accommodate (and offend) nearly everyone, it's RamaHanuKwanzMas!

Not much going on today. The metals aren't going up but at least they're not going down, either. To that end, I thought I'd give you some charts with support levels to watch. As stated yesterday, I do not expect a major selloff here as open interest is already quite low in gold and the RSI is moderately oversold. It is the light volume holiday season, though, so anything is possible. For now, just watch the levels on these charts while you sit back, relax, enjoy some down time and prepare for 2013.

The only item of "news" I'd like you review today is this: http://www.zerohedge.com/news/2012-12-17/charting-us-debt-and-deficit-inception. It's a very well-written piece from ZH that details the history of debt-to-GDP in America. The entire article is noteworthy but I've taken the liberty of a C&P of a few of the salient bullets. Gee, where have you heard these before?...

  • This is not a political issue: politicians on both sides of the aisle are perfectly aware that setting the US on a sustainable fiscal course would mean massive pain for the common citizen, and an immediate termination of all existing political careers: after all the myth of the welfare state is at stake. It is in everyone's interest - both GOP and Democrat - to perpetuate the unsustainable deficit status quo indefinitely. Any theatrics out of the GOP demanding fiscal conservatism are therefore just that - theatrics.
  • There is no question that it is unsustainable: US GDP is currently growing at a pace of 1.5%-2.5% at best. Total 2012 US debt will have risen at a rate of 8%, and will continue rising in the 6%-8% range.  
  • More disturbing is the influence of the Fed, whose policy of ZIRP and outright debt monetization (recall even JPM has now admitted the Fed will monetize all US debt issuance in 2013) is the only permissive factor that has allowed the US to delay the inevitable moment of reckoning as long it has.
  • Indicatively, a modest rise in the average US interest rate, which is currently at all time blended lows, to just 5%, would mean that in 3 years the US would spend, pro forma, $1 trillion in cash interest each year. At that point the US will approach Japan status, where the government needs to borrow just to fund interest outlays. Actually, instead of Japan, Weimar would be a better analogy.

Just a couple of other items before I conclude this brief post (MrsF has designs on my time again today).

  1. I'd like to personally thank again all who have "donated" money to the site (me) this year. Each gift is invaluable, regardless of size, as it helps defray the cost of the site and compensates me for my time and effort. A special thank you, too, to all of you who automatically donate a few dollars each month through the recurring donation button. Your ongoing support is greatly appreciated. Additionally, at tax time, it is vitally important that you realize your donations to TFMR are NOT tax deductible. TFMR is most certainly a for-profit endeavor and your donations are only considered gifts toward the cause. (To that end, please be sure to remember TFMR in your will and other estate planning methods cheeky) (that's a joke, btw)
  2. I also want to thank our "sponsors" for their ongoing support, which is equally vital in keeping the site online. Santa's company TRX, MiningStockValuator.com, JMBullion and Provident Metals all sponsor this site and deserve your support and attention. Google also places ads on this site and that is a significant source of revenue, too.
  3. If you're still looking for gift ideas for that Turdite in your life, please be sure to visit the TurdMart by clicking this link: http://www.tfmetalsreport.com/store. From there, you can also be directed to Amazon where anything you buy, after being sent there from this site, generates a small commishkey for moi. Also, there are still plenty of t-shirts available at this site: http://www.ebay.com/itm/330840151512?var=&ssPageName=STRK:MESELX:IT&_trksid=p3984.m1555.l2649. The site makes $5 for every shirt purchased so please consider stuffing a few stockings with this lovely item.

So, there you go. I see that in the time it has taken me to write this up, the metals have seen another algo-induced plunge. <Yawn>. Just watch the levels I gave you and relax. It's RamaHanuKwanzMas! Smile and be happy!

TF

160 Comments

Ccanuck's picture

First!!!

First!!!

My first first!!! wow I will have to feed the turd!! For all the great FREE info here. Everyone should send the turd a little christmas cheer.

Thanks Turd

Ccanuck

wtfdik's picture

Nice shirts!

i like em

agrock's picture

thurd

thurd

Dr G's picture

They will let gold have $1700

They will let gold have $1700 over their dead bodies. Sheesh. Asia likes it. London likes it. NY? Not so much. Drip, drip, drip.

Revelation's picture

How the PTB Torment Silver Investors

Prevent Silver from being editorialized in the mainstream media. If it must be discussed, then only mention its volatility and riskiness and showcase key Silver analysts in high-visibility firms to spout very bearish rhetoric regarding investment in Silver. (John Nadler of Kitco and Jeff Christian of CPM Group).

Allow for Silver ETFs that shift investment dollars from the actual metal towards worthless paper representations of the metal.
 
Build up extreme paper naked short positions on the COMEX via “bullion banks” to contain price levels. JP Morgan alone now has a short position of over 200 million ounces. Global annual Silver production is about 750 million ounces.
 
Allow the LBMA to trade more than 100 times the gold (and Silver) it has to back the trades. http://gata.org/node/8478
 
Utilize the Exchange Stabilization Fund to contain price levels. 
 
Slam the price of precious metals on radically bullish PM news (We have seen several instances of these actions taken this year 2012).
 
Have a regulating body (CFTC) look the other way on position concentration issues, aggressive price corrections and laws regarding position limits.
 
Have a regulating body (CFTC) ignore the public on proposed position limits on Silver. In early 2011, the CFTC allowed for public comments regarding position limits on several key commodities. More than 90% of those comments called for a 1,500 contract position limit on Silver. http://www.zerohedge.com/article/ted-butler-urges-everyone-submit-response-cftc-silver-manipulation-schemes
 
Perpetuate investigations regarding manipulation in the Silver market. The CFTC is currently in a 4+ year Silver market investigation. This is the CFTC's 3rd investigation into the Silver market in the last decade. http://www.silverseek.com/commentary/cftc-silver-investigation
 
BTW, this is a work in progress, feel free to add to the list. :)
Revelation
 
rl999's picture

Awesome title

All inclusive, therefore offensive to none.

top ten. Bazinga!

rpboxster's picture

I think we're going sideways for a while...

No catalyst for significant movement.  Who knows?  I'd like a good smash down in Au to convert some end of year fiat.  

Whipped up my first batch of bacon whiskey jam on Sunday.  It takes the better part of a day.  But, it's been pure joy smeared on home made bread these last two mornings.  Mmmm.  I'm giving small jars to some family members next week.

¤'s picture

84 Lumber

I see the JPY is still knocking on that 84 door.

Once the BOJ and Abe meet in the coming days that 84 door will be kicked in.

Friday? kicking%2Bdoor.jpg

http://www.marketwatch.com/investing/currency/usdjpy

Groaner's picture

here is the housing recovery..

Marcus's picture

And check out the price of

And check out the price of gold in Japanese yen. Think the US will stand idly by as Japan devaluates its currency?

hammerman's picture

bobbay... geta to da gym

but dont waste all your time talking....bubs...   talking aint working it out...  weeee   turd who did you have in the unwatchable game last nite?  jets  jets  jets

Mr. Fix's picture

Okay, when were you going to tell me?

And to think I was actually sitting at the “old thread” patiently waiting to see what happened next,

and it never even occurred to me to check for a “new thread”.

I usually get the announcement, today somebody forgot to send it.

Now that I'm here, thank you Turd for the great job you do,

and thank you everyone else for keeping it interesting,

I must now leave you after reading today's update as I have much work to do.

I'll check back tonight, to see how it all turned out.

agNau's picture

Another day

www.youtube.com/watch?v=umrp1tIBY8Q

* yen devaluation is planned. Needs a push to get thru 118 on index.
Japan is removing ceiling, we will as well.

Bill of Rights's picture

Hypocrite alert:California teachers fund reviewing gun investmen

California teachers fund reviewing private equity gun investment

http://finance.yahoo.com/news/california-teachers-fund-reviewing-private-005019973.html

With $155 billion in assets under management, CalSTRS is the largest teachers' fund and the second-largest pension fund in the United States, making it a powerful voice in the investment community that may influence others in reaction to the shooting.

"At this point our investment branch is examining the Cerberus investment to determine how best to move forward given the tragic events of last Friday in Newtown, Connecticut," Ricardo Duran, a spokesman for the public pension fund manager, said in an email.

CalSTRS had invested $751.4 million with Cerberus by the end of March 2012, according to its website. Cerberus owns Madison, North Carolina-based Freedom Group Inc, which includes Bushmaster, the manufacturer of the AR-15 rifle used by the shooter in the Newtown killings.

Spokespeople for Cerberus and Freedom Group did not respond to requests for comment.

Be sure and PASS IT FORWARD to your favorite Libtard site.

Niklaz's picture

Someone wake me at 4:30

GATA Chairman Bill Murphy and your secretary/treasurer are scheduled to appear on the Russia Today television network's "Capital Account" program with Lauren Lyster today at 4:30 p.m. Eastern time. The program likely will be posted this evening at the Russia Today and YouTube Internet sites and GATA aims to distribute the links then.

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

achmachat's picture

not so happy...

...for those of us who have to turn parts of the metals stash into fiat during these low-price times.

Dear Santa,

bring us vindication.

yours truly,

us.

heyJoe's picture

Turd?

Is there a link to Amazon on this website?  I have some purchases to make.

Thanks.

Turd Ferguson's picture

Just had a knock at my door

MODERATOR

And the UPS guy dropped this off. What a nice surprise! Can't even remember when I bought it. I recall a day about two weeks ago where I was all pissed off about a raid and I went to the Great Panther store and bought it. I moved on and forgot all about it until just now. What a delight.

I wonder if this image will satisfy that MonkeyBoy guy??? Probably not...crying

Beastly Stack's picture

@hammerman

How's that 1317 call looking?

Clown,you are most likely a Jet Fan too!

Turd Ferguson's picture

Thank you

MODERATOR

You're very thoughtful.

Start by clicking the link below and then follow one of the items listed into Amazon. Once there, anything you buy generates a credit for the site.

http://www.tfmetalsreport.com/preparation-store

Response to: Turd?
¤'s picture

At the moment...

Not sure what's going on right now (except that London is closing) but the bounce in currencies and bond rates is moving/rebalancing across the board right now.

Maybe the BOJ/Yen decision on intervention has leaked out to the other CB's?

Go to MarketWatch (or wherever) and check out the 'Markets'  box in the upper right and sift through the FX and Rates tabs.

http://www.marketwatch.com/?link=MW_Nav_FP

Turd Ferguson's picture

Actually, I had the Tit ans

MODERATOR

First Monday night game I've hit in a while.

Sanchez is terrible.

Response to: @hammerman
Bill of Rights's picture

YIKES there goes the DXY

Turd Ferguson's picture

You're right, Bill

MODERATOR

If it starts breaking down through 79, watch out.

Keep an eye on the 10-year note, too. Critical support at 131.75 or so.

Are we witnessing the early stages of a flight from the dollar???

Beastly Stack's picture

Turd

Thanks for posting that again!I hope we sell many.

http://www.ebay.com/itm/330840151512?var=&ssPageName=STRK:MESELX:IT&_trksid=p3984.m1555.l2649

If you would like to order these shirts,email me @mconnolly74@aol.com and I can ship out large or xlarge today in royal blue or black.I have been wearing them and no one has tried robbing my secured home yet!

TreeTop Dweller's picture

Monkey Boy writes a Christmas Letter:

Dear Santa,

How are you? How is Mrs. Claus? I hope everyone, from the reindeer to the elves, is fine. I have been a very good boy this year.

I would like an X-Box 360 with Call of Duty IV and an iPhone 4 for Christmas.

I hope you remember that come Christmas Day.

Merry Christmas,

FMB

* *

Dear FMB,

Thank you for you letter. Mrs. Claus, the reindeer, and the elves are all fine and thank you for asking about them.

Santa is a little worried about all the time you spend playing video games and intentionally aggravating others on message boards. Santa wouldn't want you to become more cynical than you are already.

Since you claim to have been a good boy, I think I'll bring you something you can use to improve your attitude and interpersonal skills with.

Merry Christmas,

Santa Claus

* *

Mr. Claus,

Seeing that I have fulfilled the "naughty vs. Nice" contract, set by you I might add, I feel confident that you can see your way clear to granting me what I have asked for.

I certainly wouldn't want to turn this joyous season into one of litigation.

Also, don't you think that a jibe at my message board attitude coming from a grossly overweight man who goes out once a year is a bit trite?

Respectfully,

FMB

* *

F'nMB !,

While I have acknowledged you have not met the "nice" criteria, your “naughty” negates your “nice” by a substantial margin.

Need I remind you that your Christmas list is a request and in no way is it a guarantee of services provided. Should you wish to pursue legal action, well that is your right. Please know, however, that my attorneys have been on retainer ever since the Burgermeister Meisterburger incident and will be more than happy to take you on in open court. Additionally, the mental exercises I alluded to will not only improve your mental health but also improve your social skills and potentially help clear up a complexion that looks like the bottom of the Burger King fry bin most days.

Very Truly Yours,

S Claus

* *

Now look here Fat Man,

I told you what I want and I expect you to bring it.

I was attempting to be polite about this but you brought my looks and my friends into this.

Now you just be disrespecting me. I'm about to tweet my banker bosses and we're gonna be waiting for your fat a**. 

I'm taking my game console, my game, my phone, and whatever else I want.

WHATEVER I WANT, MAN!

T-Bone

* *

Listen Pizza Face,

Seriously???

You think a dude that breaks into every house in the world on one night and never gets caught sweats a skinny G-banger wannabe?

With my time tested surveillance system, "He sees you when you're sleeping; He knows when you're awake". Sound familiar, genius?

You know what kind of resources I have at my disposal. I got your *hit wired, Jack.

I go all around the world and see ways to hurt people that, if I described them right now, you'd throw up your Totino's pizza roll all over the carpet of your mommy's basement.

You're not getting what you asked for but I'm still stopping by your crib to stomp a mud hole in you’re a** and then walk it dry. Chew on that, Petunia.

S Clizzy

* *

Dear Santa,

Bring me whatever you see fit. I'll appreciate anything.

FMonkeyBoy

* *

FMonkeyBoy,

That's what I thought you miserable little bast*rd.

Santa

heyJoe's picture

PIG Pounding

Wonder if the Cliff and Debt Ceiling deals are done?

Keep adding to your stack.

Happy RamuHanuKwanzMas!

Mickey's picture

Debt Ceiling increase

I think I just heard santelli say 22 trillion?

can't be-Thats 5.6 trillion over 2 years

hammerman's picture

beast you need to lighten up

during this holiday season....  no i am not a jets fans...  and be sure come shoot your mouth off on 12/26 SPX 1317...   IF YOU GOTS THE GUTS.....

Harald's picture

Jets fans and Eagles fans

Jets fans and Eagles fans deserve their teams.  And I hope the Eagles keep Andy Reid, I love to watch the look he wears on his face as he watches his team get pounded and has no clue what to do.

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