Happy or Terrible?

Tuesday, July 17, 2012 at 3:42 am

Let's hope for a "Happy Tuesday".

Just a few items for you to review. First, this great article from Alisdair Macleod which covers some of the same territory that Trader Dan plowed over the weekend. http://alasdairmacleod.blogspot.com/2012/07/managed-money-positions-on-us-futures.html

Speaking of Trader Dan, he was talking about the grains today: http://www.traderdannorcini.blogspot.com/2012/07/grain-index-approaching-2008-peak.html. And so was ZeroHedge: http://www.zerohedge.com/news/putting-corn-harvest-drought-and-flood-context

Santa's pal Eric has written an interesting piece where he discusses several of the CoT trends that we've been covering ad nauseam here. http://edegrootinsights.blogspot.ca/2012/07/this-major-fed-move-is-about-to-create.html

And the LIEbor scandal continues to grow. HEEHEEHAHA! Just for fun, here are two articles which mention two of the primary forces behind The Evil Empire, JPM and HBSC.

Lastly, one final bit of fun from FreedomFest. While I was strolling the floor on Thursday, I ran into Kerry Lutz of the Financial Survival Network. He asked if I could spare a few minutes and I gladly obliged. Here's the link to the 5-6 minute interview. http://financialsurvivalnetwork.com/2012/07/turd-ferguson-everyone-should-be-buying-precious-metals/

That's it for now. Regardless of paper price shenanigans, I hope you personally have a Happy Tuesday!

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Comments

@ Dr G

Submitted by ClinkinKY on July 17, 2012 - 11:07am.

Agreed, and if any Turdites live in Utah, please think about supporting this woman.

@Clinkin, what a great video

Submitted by Dr G on July 17, 2012 - 11:09am.

@Clinkin, what a great video to follow up that really crappy one! Mia Love looks awesome. I love her passion.

MANY Turdites live in Utah :)

@ Dr G

Submitted by Dagney Taggart on July 17, 2012 - 11:12am.

Want to be left alone? You must stop contracting with them. If you are a US Citizen, too late. You were supposed to remain a United States Citizen. Look into it.

When not so bad is good

Submitted by billwilson on July 17, 2012 - 11:16am.

This market obviously works on other than fundamentals .. and we have been trained to sell (or at least expect big downdrafts) on Bernanke days.

But this time we seem to have selling ahead of Bernanke ... including me. But now that the usual Bernanke waterfall has not appeared (at least so far), and we have not gone down to touch the trend line ... we could see a powerful move up from here as shorts cover and previous longs buy back in. The selling may well finally be reaching an exhaustion point ... Of course I will probably be wrong and we will see a waterfall decline 2 minutes after I post this.

Brainless

Submitted by Beastly Stack on July 17, 2012 - 11:16am.

Anyone with half a brain knows that QE was not going to be announced in a testimony.

Now it appears to the markets,they know it,"the JUICE" is coming!

Could only stay away for an hr,had to take a peak,my money on the line here folks.

hummmmm

Submitted by Big Buffalo on July 17, 2012 - 11:21am.

that's the sound of the printer warming up.

Better, Stronger, Faster...Steve Austin

Submitted by Bongo Jim on July 17, 2012 - 11:24am.

A man barely alive....

I got one for ya...

Submitted by clueless one on July 17, 2012 - 11:25am.

take a look at Netdania. Silver 8 hour. Now, overlay the USD/CHF chart.

scroll back so that Nov 15th 2011 is about 1/3rd in from the left margin. (I'd post it, but I can't get it right)

The Swissie is pegged to the Euro...thus, you get a true inverse when looking at USD/CHF over EUR/USD.

Anyway...notice on 11/15, which I "think" is when they pegged the Swissie. You can see how it is inverse to the Silver chart...since the EUR and Silver usually flow.

Now...

and this is the fun part..

on June 29th 2012, you can see the USD/CHF rise...which should push silver lower. Notice how the currency rises...

BUT SILVER IS HOLDING!!!!!!!! Doesn't it look pretty dang cool??? !!!!!!!

Yeah...it's all rigged. But I personally think the "hate" on T/A is simply because the secrets are out. Now anyone can learn to read a chart...so get some negative stuff out there to scare the masses.

have a great day!

re timing of next tantalizing hint of QE

Submitted by Xty on July 17, 2012 - 11:31am.

Press Release

Release Date: May 16, 2012

For immediate release

The Federal Open Market Committee (FOMC) on Wednesday announced a revised tentative meeting schedule for 2012 and a tentative meeting schedule for 2013. In order to provide ample time for the Committee's usual discussions, these meetings have been scheduled to take place over two days. In addition, the FOMC announced that, going forward, the presentation of the Summary of Economic Projections and the Chairman's press conference will occur in conjunction with the meetings scheduled for the third month of each quarter (March, June, September, and December).

Revised tentative meeting schedule for 2012:

June 19-20 (Tuesday-Wednesday)*

July 31-August 1 (Tuesday-Wednesday)

September 12-13 (Wednesday-Thursday)*

October 23-24 (Tuesday-Wednesday)

December 11-12 (Tuesday-Wednesday)*

http://www.federalreserve.gov/newsevents/press/monetary/20120516b.htm

And the July/Aug meeting falls on a long weekend, at least in Canada, and maybe the UK ? It is our only holiday that is actually still called a bank holiday, btw. That is my current expectation.

guys, QE is not going to be announced on Fed day,

Submitted by opticsguy on July 17, 2012 - 11:36am.

, or Fed minutes day. It will be announced either on a Sunday night after something happens in Iran/Syria, or it will be before market open on Options Expiration Day in July, August or September. My bet is August.

@ClinkinKY and Walmart

Submitted by NW VIEW on July 17, 2012 - 11:38am.

The video is really a warning of the future. What will the inner cities of the nation look like as the food shortages multiply? Who wants to live in southern California or populated coast states? The since of entitlement has infected many people and coupled with any rule of law or even basic law enforcement anywhere has set the stage of riots and destruction.

The time will come soon when (inner city) Walmarts and all food outlets will close down for the safety of their customers and employees. That is when the migration of the hungry will be headed for your stash of supplies.

The break down of the inner life of the youth in this nation does have an outcome over time. We will not find the youth of the Amish, Mennonite's and not even the Mormons involved in the destruction of a society. If we cannot discern what the difference is, then we are also blind. jmo

Keg, et al

Submitted by El Gordo on July 17, 2012 - 11:40am.

Credit unions typically serve local communities or industries with retail banking like services such as accepting deposits, making instalment loans, and the like. There are some really huge ones operating on a world wide basis (think military and government employees, etc.) as well as small ones established by companies to serve the interests of the company's employees. Community banks typically do the same thing and are not necessarily engaged in all the hocus pocus that the TBTF institutions are. The level of safety is determined by the amount of capital standing between the deposits and the assets, not necessarily the type of institution or its chartering entity. Therefore, I would suggest that you "bank" where ever you feel comfortable, but at least take the time to look at the balance sheets of the institutions before going all in - they are required to post them publically and have them available for inspection, so getting the information is not an issue. I'm sure that if you had questions or needed help to understand the numbers someone in the institution would assist you. Again, the measure of deposit safety is capital, but many of us also perceive a "systemic" system wide risk of economic collapse, in which case, it would not matter where you were banking. I could go on at length, but that's enough for now I guess.

Cheeky

Submitted by Big Buffalo on July 17, 2012 - 11:49am.

Looks like the markets are smelling printing as well. Gold holding at $1576-74 means higher lows. Now we just need to close above the 18 day and 45 days average, then $1602. Both charts looking good since mid-May.

Safe banks

Submitted by OC15 on July 17, 2012 - 11:59am.

It's called a safe, in your house, guarded by a full auto AR-15.

Banks, Credit Unions

Submitted by rpboxster on July 17, 2012 - 12:06pm.

I use both Schwab and a local bank. I love the convenience of Schwab: no ATM fees anywhere, free everything, and interest (some), too. I even have a branch in the building, so if I need a wire or anything, it's super convenient. I also like that Schwab is not involved in investment banking activity a la JPM, UBS, and many of the other big banks. I feel that the risk of getting MFG'd is lower with Schwab. Schwab's brokerage side is low cost and convenient, too. I picked the local bank based on its asset strength. You can check the health of banks/cu's at

http://www.bankrate.com/rates/safe-sound/ssPromo.aspx

This tool can give you an idea of how much real estate exposure and such an institution has.

Safe Banks

Submitted by Ntombi on July 17, 2012 - 12:09pm.

May I suggest you look at Norway. Healthy, oil based economy run by level headed people. Not part of the Euro or Euroland. I recommended their currency, the Norwegian Krone (NOK) to some of my friends some years ago. They exchanged Euros and CHF, for NOK-bonds, yielding around 4%. They are very happy, especially now that oil is moving up again. Fly in the ointment is that their housing market is somewhat in a bubble at present.

Rocket Stoves

Submitted by eyeswideopen on July 17, 2012 - 12:16pm.

Great prepping thread everybody. I bookmarked a few more things.

A good way to save money on storage containers is to use liquor/wine/beer bottles with a cork (10/$1.00 on ebay or Amazon) and an oxygen absorber ($15.00 for 100). I've had rice stored this way without O2's for several years and it is fine. Easy to portion also. I'm doing oats now. Good feeling also recycling the bottles.

A couple links for rocket stoves. GLTA.

A 2 Year Supply Of Asswipe (Turd Paper), Xtasy ?

Submitted by Monedas on July 17, 2012 - 12:17pm.

I, who have cornered the Turdroom humour around here, don't even have a week's supply .... even counting the phone books and IRS pamphlets I get at the rural Post Office ! Now, "a years supply", is not a precise, scientific measurement .... even for "Ponzers" and bankers it's a little vague .... so I focus on Toilet Paper futures vs. Silver Futures .... when I design my TP "stack" ! I believe silver will increase in price much more than the ubiquitous "sheets of shit paper" , and given the many substitutes from corn cobs, NY Times, grass, bark, pine cones, "free drop" Yoga techniques, kittens and bunnies, swimming in your liberal neighbor's hot tub, wet wipes, the "Pakistani Method" (squat, plop, finger wipe and rub finger in the dirt) .... there is no reason to "stack" so much "ass fodder" ! Monedas 1929 Comedy Jihad Jokes From The Turd Paper Pantry

things are beginning to look up

Submitted by Xty on July 17, 2012 - 12:18pm.

1587 and silver is looking good too - I think since up is down, Bernanke not announcing anything is actually now a positive. Perhaps that is something we can actually look forward to - paralyzed officials - anything that means less intervention.

well...

Submitted by tpbeta on July 17, 2012 - 12:25pm.

...all that chart watching this afternoon was a bit of a waste of electricity

FUBM

Submitted by Turd Ferguson on July 17, 2012 - 12:28pm.

MODERATOR

Try to run it all down again on The Bernank. We're getting wise.

Actually, I suspect that BM has now trained the algos to sell on Bernank. She's the one buying here and driving price back up.

EUR/USD and gold are tracking

Submitted by Irksome on July 17, 2012 - 12:28pm.

As is often (but not always) the case, this gold move is tied to EUR/USD. Hit Netdania's charts, look at EUR/USD, then look at gold.

Doesn't smell like manipulation of gold today.

30,000 drones into U.S. airspace in 2015

Submitted by kibbles314 on July 17, 2012 - 12:31pm.

Nothing could possibly go wrong with this fantastic idea.

http://www.truthdig.com/report/item/americas_drones_are_homeward_bound_20120717/

(S)ch(m)uck Schumer shills for the Dems...

Submitted by ClinkinKY on July 17, 2012 - 12:31pm.

...yeah I know it would be PM positive but consider the reason and the source.

-----------------------------------------------------------------------------------------

Sen. Schumer tells Bernanke to stimulate economy before November

Sen. Chuck Schumer, D-N.Y., exhorted Federal Reserve Chairman Ben Bernanke to stimulate the economy before November through some form of quantitative easing or other monetary policy, which Bernanke said could create jobs.

“Despite two false starts, we’re having a much rougher time than we ever imagined getting unemployment down,” Schumer told the Senate Banking Committee. “So get to work, Mr. Chairman.” Schumer said Bernanke needed to stimulate the economy because Congress refuses — “maybe after November we will,” he opined.

Walmart and Mobs

Submitted by cpnscarlet on July 17, 2012 - 12:32pm.

Someone help me. There is a fairly well repeated quote from an Army officer during the 1863 draft riots in New York about how the Gatling gun was one of the "kindest, gentlest" ways to handle a violent mob. I can't find it...anyone know what I'm talking about?

For an unruly mob like that, a couple of gunshots just above their heads would have cleared the ruffians out. Easy solution.

What I fear is the day when one of these "flash mobs" turn truly violent. If you like the Trayvon Martin case, just wait for the sophistry that will start after a violent flash mob event. I just hope that when it happens, a miracle will occur and several well-armed, God-fearing, accurate citizens will be around at that time.