Greetings From FreedomFest

As part of my "vacation", I've spent the last two days at "FreedomFest" in Vegas. It has been terrific.

FreedomFest is a 3-day conference revolving around libertarianism and Austrian economics. Yep...right up my alley. And it was in Vegas! Also, right up my alley.

In the past two days, I've met with Ranting Andy and Mike Krieger. I've been interviewed by Kerry Lutz of the Financial Survival Network  and I've made the acquaintance of Rick Rule of Sprott and Pat Heller of Liberty Coin Service. All of this was very cool.

However, the main thrill was yesterday. I attended a small luncheon where Steve Forbes introduced The Judge. Judge Napolitano went on to speak to the group for about 30 minutes and then field questions. I got my picture taken with him and he also gave me his business card. I hope to finally schedule that podcast that I've been dreaming about! Again, very cool. The Judge then gave a 45 minute speech to the entire convention. He's just awesome. Great stuff.

Great stuff in the metals today, too. The Big Bad Wolves huffed and puffed again yesterday but once again failed to bring the house down. Santa was right in two fronts: One, they attacked and two, they failed. By no means are we out of the woods yet but nothing too scary, either. Gold remains firmly within it's 10-week basing and bottoming range of 1535-1635. Silver, too, is still in its 27-29 range. The good part of these ranges is this: Once we break out and UP...and we will...it will be clear to absolutely everyone with half a brain that the metals have bottomed. The shorts will either get frightened or squeezed and prices will move up rather quickly. Just be ready.

Two interesting news items I found while surfing with my phone this morning. First, this link to ZH. You should check it out. http://www.zerohedge.com/news/cme-gold-collateral-and-its-unsurprising-london-based-custodian

And then, while at ZH, I saw that Swiss 2-year note is now yielding negative .43%. NEGATIVE POINT FOUR THREE PERCENT! The Germans are also getting in the act as their 2-year is now -0.05%. This is truly incredible. On a hypothetical new issue, for a 1,000,000 franc, Swiss 2-year note, you would have to pay the Swiss government about 10,000 francs for the privilege. Are you freaking kidding me? You've heard me mention ad nauseam how negative, real rates are extraordinarily bullish for gold. How about just plain, old negative rates?? Holy Toledo! http://www.zerohedge.com/news/swiss-2y-rates-plunge-43bps-all-trust-lost

Lastly, as we continue on our trip down Memory Lane, perhaps today would be a good day to review this idea of negative real interest rates. I wrote this piece back on 2/1/12 and today is as good a time as any to go back and review it. http://www.tfmetalsreport.com/blog/3325/case-you-missed-it

OK, that's all. I have to head to the airport soon so I better wrap this up. Please check back later today though as I plan to update this thread with thoughts on the CoT, once it's out. I probably won't be able to do it until this evening, however. It should be an interesting report. For the reporting week, gold was down $42 while total OI rose by 2000 or so. Silver was down $1.40 and saw its total OI climb by 1400. 

Have a great weekend!

TF

Comments

tmosley's picture

Libero

Right, I'm sure it's "productivity" that killed the jobs.  Nevermind that more than half of jobs now are non productive (government jobs, and people employed to deal with people who have government jobs so the engine keeps turning).

If you did one single iota of research, you would see that your assertion is completely baseless.  Why?  Because different countries have differing rates of productivity!  But guess what?  Productivity is not directly correlated with employment levels!  If anything, it is NEGATIVELY correlated!  You have poor productivity in Africa and Latin America, and you also have really high unemployment.  You have medium-low productivity in Europe (ex Germany), and medium to high unemployment.  Etc etc.

Further, you fail to understand that a job is not the end all be all of civilization.  There are plenty of nations that have total employment even as they starve to death.  North Korea is a current example.  The Soviet Union and truly Communist China were two others.  Just "having a job" isn't what is important.  What is important is what we produce.  If we produce enough goods, there will be enough wealth in society that people can afford to be non productive.  We already see that with the number of non-productive people we have now.  You might as well take all those people "working" those government jobs and put them on welfare for the same amount as their salaries, and there would actually be a POSITIVE net effect on society, as they won't require a bunch of people working compliance anymore, and those people can be put to productive work.

And as to your "we need laws cause Bible" BS, well, that is BS.  If you want to get all scholarly, Cain didn't reasonably know what the effect of clubbing his brother over the head would be.  He didn't know about human anatomy.  All he knew was magic and angels floating around and scraping in the dirt because of his bitch mother.  Even if he did understand the concept of death, and understood that that concept applied to humans, he knew all about Heaven, having spoken with God personally.  Is it really a crime to send someone on an all expense paid vacation to live with the magic man in the sky who you talk with on a regular basis?

Now, if you want to talk about the REAL WORLD, then lets do that.  There is a concept called "natural law", which quite clearly includes a right to life.  If you murder my child, then I will come after you with a fury and vengeance unlike any you have ever witnessed.  That is, unless the "law" says I can't, in which case you have a 2/3rds likelihood of getting away with it.  Given false convictions, it is probably even worse odds than that.

Now you can argue for and against the existence of any and all laws imposed by government as much as you want, but that doesn't get us anything.  I know perfectly well that we aren't going to get an anarcho-capitalist society in my lifetime on Earth, and as such, all discussions of it are nothing but masturbation. 

However, we could and WOULD do much better if we had a system of laws which reflected natural law, and as such didn't interfere with commerce except to prosecute fraud, theft, assault (direct or indirect ie pollution, malpractice, etc), and murder.  If we must, then we can abandon the notion of freely chosen arbitrators to have civil suits go forward in government courts, if those courts would again but recognize the supremacy of natural law.  If we can't even go that far, then we could at least stop just ONE MORE stupid, intrusive law from being placed on the books, stop just ONE unconstitutional executive order, stop just ONE nonsensical defense of an unconstitutional law.  But we can't even do that, it seems.

DrkPurpleHaze's picture

El Gordo

Lol!   laugh

DrkPurpleHaze's picture

Some Saturday humor

My apologies to any swamp dwelling/alligator worshipping Turdites out there wink

historiography's picture

We debate on ideals

of markets and politics, the influence of media that creates fear and wedge issues that divide society and yet most of us here are waiting for the price of PMs to skyrocket as the dollar takes its inevitable dive down.  We prep for that moment in different ways, readying for an escape or storing food, looking to PMs as a source of freedom, or as JS calls it, a life line.  It's religious-like as we wait in hope that we're believing in the right thing, and cult-like because the mainstream sees us as wacky.

DrkPurpleHaze's picture

CCR - Born On The Bayou

Bsong's picture

+1 Tmos

+1 Tmos

Yooper Rick's picture

IS7

Many hat tips.......Born on the Bayou

Dagney Taggart's picture

@EO

"I'm happiest around here when we are talking stacking, investing, and prepping for hard times a'coming..."

As silver was getting beat up and people where losing faith, instead of being a voice of leadership and reason for ALL on "main street", all you did was run off to your holier-than-thou bacon clubhouse or whatnot with other holier-than-thou types and sit around discussing essentially worthless nonsense, including agreeing amongst yourselves that, because Turd said it would happen, since I was the new voice at the time that upset your paradigms, I must be part of the group of prophecized trolls who have come here to take over main street and do nothing but hat tip each other's obviously worthless comments. High-five fellow trolls! Are you serious? And apparently it's been agreed that I have a penis too?!? I didn't know this could be determined by committee. Clique losers gossip in shadow. If you have something to say, say it out in the open. You have much bigger problems than stacking and prepping. You ran away and hid when the fight was getting tough because deep down you care for nobody but yourselves.  You don't want a community. You want a groupthink hive mind of fundamentally the same old tired rhetoric just with a slightly more sophisticated twist than what is heard on the idiot box. On the backside of all this when our fight is won and there is rebuilding to do, you'll have learned nothing and just fall right back into the same destructive paradigms that destroyed it because you were too scared to learn how they were fundamentally derived in the first place.

Whatever you decide to do, good luck with that. There are still people here who don't know what they need to to thoroughly protect themselves and, at least from my perspective, they deserve to. Because I actually do love people.

Short Stack's picture

@Treefrog

Okay so, what, by your logic, anyone who is a Christian should stop calling themselves Christian and start calling themselves MUSLIM ?   Otherwise they are not "servants of God?"

Get real,  did you stop to think for even an instant that Muslims even give a flying f#ck what Christians think about what others should call them ?

Or Jews, or Hindus, etc. ?

Just because Wikipedia defines something one way doesn't mean we should all just blindly agree.   In the vast scheme of things, it don't mean a thing what other people think of you or call you;  what matters is what your God and you think of you.

Give it a rest already.

Dagney Taggart's picture

I nominate

tmosley for president.

Yooper Rick's picture

Dagney's no troll.

Dagney, I think you are a warrior. And as an aside you are also my heroine.

treefrog's picture

@short stack

"Okay so, what, by your logic, anyone who is a Christian should stop calling themselves Christian and start calling themselves MUSLIM ?   Otherwise they are not "servants of God?" "

christians are, of course, free to call themselves anything they wish.

"Just because Wikipedia defines something one way doesn't mean we should all just blindly agree."

wikipedia, and the instructor and texts in the classes i took in the '60s

yes, give it a rest already.

obiwan's picture

Very Cool Animation

These two guys have  great animation and could use a kickstart.

http://www.scottishninjas.com/kickstarter

DrkPurpleHaze's picture

A community question/problem

DT.....If your able to (which I doubt at this point) please try tocontain yourself somewhat  if possible as it has become almost painfully  obvious what you're all about on here or whom you might be or have been as a poster previously.

Whether you realize it or not, and I think you fully do, you personify the word troll and coward at this point. Like a holier then thou sawed off shot gun with no clear sight at all except to aim pull the trigger with a bunch of angry BS shoved into your barrel. 

You're what I call a 'knee-capper'.  

It's been a selectively divisive and childish tactic and  your arrogance/smugness pretending to offer some relevant insights is a disguise to mostly launch attacks ad hominen.

I'll put it up to the community (and Mods) and whomever reads this post right now...are you tired of the BS from this poster and others like he/she that are purposely disrupting the site lately at certain times and in a certain way?

If you're tired of the angry, divisive crap and you want to send a clear message to those  who have an agenda or axe on here then I ask you to.... Hat Tip the heck out of the post just above mine unless it's a smirking DT.

We'll see what the community has to say about this.  I would ask everyone to try to refrain from a total war of words and vote with your HT's up above me.

Thanks.

Pining 4 the Fjords's picture

Taggert- your messiah complex is showing

You have been a member here for three whole weeks, you really feel qualified to judge how folks here, who have been through the pm wars for years, respond during a metals crisis? On what date in the last three weeks was Main so desperately in need of leadership that they needed Eric O to hold their hands (and he failed them, oh the horror!).   Because those of us who have been around a while take that type of market action in stride.  Hysterical accusations of "oh god, you shirked your duty to the community Eric" come off as, frankly, a bit unbalanced.

Really-  what the hell do you care if people blow off steam in a FRIVOLITY forum?  Why does it so anger you?  

QE to infinity's picture

Jesus Muslim?

Didn't want to even look at that link as it's obvious that it must be some kind of BS, but had a look now after reading all this about "Muslim means a servant of God". It may or may not mean that in Arabic (don't know any Arabic), but this is NOT what the article is about, so why bring pointless semantic arguments into it? The article claims that Jesus is a better "fit" with Islam than Christianity, which I think is total BS. There are a lot of idiots and cranks  out there coming out with a lot of BS, this is just one of them. End of story.

Edit: I mean that that religious studies professor who came up with the idea that Jesus is a better "fit" to Islam is an idiot/crank, not anybody on this board :) 

historiography's picture

Material Weakness

and twists in hope of justice, something we can all pray for:

http://jessescrossroadscafe.blogspot.com/

Tavakoli:  JPM's Risky Business

Moderator Holliday's picture

Dagney Taggart

MODERATOR

I'm not real appreciative of what's been going on and I'm keeping an eye on where this goes and where it's been over the course of 3 short weeks.

Check your PM box.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

"Doc" prefers to keep his virtual "Peacemaker" out of sight and holstered.

Dr Jerome's picture

religion

Nothing derails this board away from metals and prepping as does religion. 

Perhaps the professor who make the claim about Jesus needed to get published and gain some national notoriety either for a promotion to full prof or to keep a department chair off his arse. What better way?

Dagney Taggart's picture

@Indigo

I think someone is sensing their loss of influence and that their message is getting old. Narcissist much? What you are saying and doing is nothing that hasn't been done before to put down warranted dissent. THAT smacks of shill.

What's more important? A stale community where everybody believes in lollypops and unicorns who shit skittles? Or a dynamic community that deeply examines the root problems of society and doesn't suppress opinions?

Whether you know it or not, the fight is much greater than PMs or preps because none of that matters unless there is a common law, rule of law foundation under it. And I do not see one shred of exploration into these matters on your part.

Colonel Angus's picture

I'm with tmoseley on his previous comment

We probably disagree on as much as we agree on, but one less rule and one less opportunity to take away from people is good with me. The thing about making law upon law is that someone is just trying to see how much we'll endure. And most of us sit our fat, lazy asses on the couch and just take it. I am certainly glad that guys named Washington, Jefferson, Paine, Adams, Franklin, and many others saw this differently. We need a few more of those men (and women) around today. Ron Paul is one who is trying to get things accomplished, and he isn't the only one. People like Turd, Max Keiser, and the Tylers are also trying to get people to wake up. They come from different parts of the political spectrum, but they all have this desire to incite people to think. This is what I like....

So I was trimming the hedges out in front of my house this morning trying to figure out why I have such a visceral distaste for collectivism when it hit me. I am Christian, and as such I am told to take care of my fellow men, to give them water when they are thirsty, to clothe them when naked, etc. And I do my best to hire people in the neighborhood who are down on their luck when I need some help with something. And when I look around a lot of people aren't doing this. When I've asked them why they don't help out the poor, the downtrodden, etc., I'm told it is because they pay taxes and the government does it. It takes away our humanity and our chance for charity when the socialist state provides for everything. Because sharing is a choice...socialism is forced at the barrel of a gun or the point of a bayonet. (Tell me that Hitler's National Socialism or Mao's Communism were not forced. In fact give me just one instance of where a LARGE SCALE socialistic system was voluntary.)

So, do we finally reach the point here? Is it that no large scale political system is very tenable because we're all jerks and bastards? Cain killed Abel when there was complete freedom, and Stalin killed millions in a repressive system. Personally I'd rather trust others as equals and choose when I want socialism/sharing with others instead of having one much larger entity tell me  how things must be distributed even if it makes no sense to anyone involved...

Please point out the errors of my ways. I've been known to be wrong many times. And I still would really love to have Turd's much more erudite musings on this issue. I mean he actually went to FreedmFest while I stayed in my office working on some research.

Bsong's picture

@ mod

JMO, Dagney's post are on point and relevant.

I'm certain Dagney's post are being misinterpreted.  She has given sufficient reference to figure it out.

Dr Jerome's picture

PMs down? Oh no!

In April of '11 if someone had said metals will give up the gains stay stuck at lower levels for a whole year, many people would have rejoiced that they could cost average their stacks and actually afford twice as much AG.

For me, this isn't about getting rich any more. When metals take off again, I am afraid we are at the endgame. I don't really want to see this economy collapse so soon, or at all if there is a chance of weeding out the crooks. But then, when in human history have the psychopaths not weaseled and murdered their way back into power within two generations after getting pitched out?  Though I would enjoy a period of a peaceful, fair economy.

My wife and I bought 320 vegetable seed packets for a nickel each at a clearance sale this morning!  I suspect food will be a highly valuable commodity before the next president's term is up.

Preaching to the choir... sometimes they need it most.

Keep stacking and prepping.

DrkPurpleHaze's picture

DT

The projection and mirroring of certain phrases and names is interesting. It's probably hard to see when the mirrors needs to be turned around so forcefully onto others.

Think what you need to think and your need to actually be the one in the spotlight just as you accuse me of is completely transparent.

Anyone who knows me here hopefully knows by this time that I'm about what's ' good  or positive' for the site as it's evolved. TF himself has been supportive of it as have many others. Your short lived and ill aimed intentions have little to do with me. It's all about you and the attempted turnaround and mirroring onto me is pathetic. I'm sure this aspect is lost on you.

I think many people see it for what it is.  I do not need people to like me because quite frankly familiarity breeds contempt and I understand that part of it. That's what the IU button is for.

Your unfamiliarity seems to be breeding the same contempt. Consider yourself in this matter for once and not others because that's all you've been doing....talking about others and playing turnaround while preaching.

Good luck.  

Santa's Elf's picture

@ EO

I haven't posted for a while but just wanted to add my voice of support to your comments.  It seems to me Main St. has lost some of its former glory, with fewer valuable insights being shared and more venom being spewed than I can ever remember.   While I'm not suggesting this site has lost its value, I'm finding it less fulfilling to visit these days.  Whatever the case, I'm grateful for many contributors here that have opened my eyes to new concepts/possibilities (Turd, EO, Jack, Green Lantern, Pining, S Roche, Prize Fighter, Victor the Cleaner, Katie Rose, BP... just to name a few).   Best wishes all.

rl999's picture

Freedom Fest podcasts

Podcasts from big names at freedom fest:

Peter Schiff, Trace Meyer, Ranting Andy, John Schmidt, Rick Rule.

http://financialsurvivalnetwork.com/category/kerry-lutz-podcasts/

Also, in thursdays TTM podcast TF said he had a short one as well (w. Mr. Lutz) , but I've been unable to find it yet.

I Run Bartertown's picture

Why

is it the most 'tolerant and loving' of huggybears that always want to run people off?

I hope everyone stays! And a few like senseosensei, rl999, realitybiter, and DT I'll mention by name since I've gotten the impression (it's impossible to tell with the vague, spineless statements about an imaginary secret society...childish posts about roaches and whores -wink, wink, know who I mean...huhuh...and then running off to say that no one you just (maybe-who knows?) insulted is worth your time to respond to.) that we've all been considered part of the 'cabal'.

Just stay. They'll get touchy about the hat tips...so what? It happened to a list of people who garnered too much support are now gone. I don't mean the mods, I mean the only real 'cabal' we have here...and yes I know I've now irrevocably 'run afoul' of our own PTB. I just wish that we still had the voices that have already been run off. I'm not sure, but I might've been part of the last 'cabal' who got run off. It doesn't matter. Stay and keep this great place alive!

Dagney Taggart's picture

@Indigo

How does CCR's Born of the Bayou further the PM dialogue again?

Shame, really a shame.

BoblovesHawaii's picture

My weekend report

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