Pailin's Trading Corner

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@SW,

Watched the Max Keiser thing.  I think that Pollack was quite accurate in his description of things.  

My personal take is that I want to see all the make-believe continue. I want the muddle-through, money printing, inflate-it-away, etc. scenario to succeed, because the alternative is just what Pollack is describing:  the loss of my paper wealth, which is considerable.  All the legal changes, precedents, that Pollack is discussing is just the banks building an impregnable legal/political/military bullwark to protect themselves, with the very considerable help of the American electorate.

Now, many here would ask why I don't somehow "protect" my wealth.  Well, the answer is I do, as much as I can, like all here.  Ultimately, though, one needs fiat capital to create an income stream.  So  it becomes a balancing act:  how much "capital uncertainty" can each one of us live with?  If the system survives, albeit progressively weaker, our paper wealth survives, too.  We all have a vested interest in not wanting the system to blow up.  That's what the Caseys, Sprotts, et al are missing.  Nobody but a minuscule elite survives an apocalypse.  I don't think anybody will be safe living on a winery in fucking Argentina...

There are no easy answers--that's why we live in such interesting times.

unloaded 2/3ds ZSL at almost even. LSO set for a drop if get it for the remaining 1/3d. No buy orders right now...just watching. still holding pslv. looks like Eur/USD & silver correlation is coming back together.

Asia closed all next week....hmmmm, takedown probabilities increase IMO. But will probably not make a play for it.

Thanks to everyone for your takes on the Pollack thing.

Beginning now to buy UNG. Close to a D target down leg. Who knows?

Gold at resistance and GDX weak is ominous. Looking to scale in shorts today, bias down next week. IMO.

This is just me and my bias now.

The bank holidays will likely be a last resort.  The path of inflation is easier and more likely.  This is what I like to think.

The problem with this line of thought, however, is the behavior of the bankers at this point.  A book I find very interesting is The Collapse of Complex Societies.  One of the points in the book is that at a certain point the elite well connected class knows the endgame is close.  At this point they engage in reckless looting of society with no regard to the consequences.  They feel as though they are fighting for their very survival.  The degree of lawlessness we are witnessing points to something happening.

In any case, Pailin raises a good point.  I have spent some time in the third world with my business, which involves mining ventures.  If most of us on this board lose 90% or our assets, we are still living far better than most of the world I have seen.  We are fat cats that may bitch about the system, but we are beneficiaries - to this point.

I attended a presentation by Bill Clinton here in Canada a couple of years ago.  He spoke of the need to shift resources from developed countries to those underdeveloped.  It was a slick operation.  There are many "operations" happening simultaneously, humanitarian intent being a great cover.  Yeah, right just like the earthquake in Haiti couple of years back and the grand efforts for relief.   The origins of the earthquake still suspicious.

Inflation is one financial operation, but there will be many.  Sorry folks, but please remember than man is the most lethal of all living entities, if not guided by ethical considerations.  And from what I witness there is very little ethos happening right now.

thank you for the tip..glad to see you back

Silver looking to make a bid for $31 - wait we hit it

Granny reporting from Fema District 9.

Camps all stocked and ready to go. Nice running water. The shepards bark all night long so this is a problem. Camp guards pass out back issues of "Juggs" in exchange for cigarettes.

They tell me the precedent is in. They rounded up the 'Japs' in 41'. "So that's what these are all about?" I asked. "Yeah, huge fucking columns of Persian terrorists living in our midst. Once the go is given in the Gulf we need to bag them fast..."  "Oh I get it, before another Thermopylae right?" .... "TherpMopa-what?"... pause... "so what am I doing here?" I ask.  "You were on that terrorist site, 'Turd somethin'  right? Posting all that stupid shit, right?"  "Well this is what you get for that. Now  shut the fuck up or you go back on the water slide, got me?"