Another Winner!

Mon, Jul 18, 2011 - 10:29am

I've got the re-crossing of $40 silver at about 3:09 EDT last night. Someone just won another autographed yellow hat. But who? I have no idea, frankly. I know someone out there in TurdLand has a spreadsheet of all the picks. Please post the winner in the comments section of this blog.

Our precious precious metals are sure looking fine this morning. Copper, crude and the grains are all down so it is clear that the world is looking at the PMs as safe haven plays...which they are. It's nice, too, to see that silver has shrugged off the "commodity" tag and is soaring alongside gold. Look for this to continue.

Now that silver is back above $40, look for the big money that left the pit back in May to come pouring back in. Not right away but in stages. IF silver can hold its position today and close above $40, the stages will be set for a run toward 42-42.50. It may briefly pause there before continuing higher. A close through $43 will force more dollars off of the sidelines and back into silver. Like April, we will likely see an accelerating move toward 48 and even 50. Do not think for a minute that the Forces of Darkness won't try everything in their power to paint a double-top at/near $50. Be very careful as price approaches that level. However, that's a topic for another day. For today, just enjoy the fact that silver is back above $40 and looks poised to mount another run toward 50 and...eventually...beyond.

Of course, gold looks fabulous, too. Hanging in there just above $1600 as I type. The simple fact that raiding and profit-taking at the psychologically significant sixteen hundred level hasn't occurred is interesting. If gold stays above 1600 for another hour or so, you may see buyers gain confidence that a quick drop will not be forthcoming. IF this happens, gold should skip away toward 1610. In either event, this is big news! Gold above 1600 is headline-grabbing material and it is sure to attract attention. It will help provide bids for the miners and it will provide spillover strength into the silver pit. A virtuous cycle, so to speak. Let's watch and see.

Have a great day. Rejoice and be happy. We are winning! TF

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Jul 18, 2011 - 2:59pm


It's also interesting that NATO just recognized the rebels from Libya as running the country. Libya's holdings

Libyan gold reserves believed to be within world's top 25

While the international community has administered sanctions and asset freezes against Libya, the nation's gold reserves are believed to be among the world's 25 biggest, according to the International Monetary Fund.

Jul 18, 2011 - 2:55pm

@Chin - EXACTLY!

You saying I'm NOT a giant nut bar? Thanks!! Or at least if I am one - now I know I have some cool company =]

Jul 18, 2011 - 2:50pm


I totally agree with you there. These guys who thought up this debt money system are evil geniuses. This whole freaking system is geared to appeal to our human desires to consume material stuff that appeal to our senses or will make us more acceptable in the eyes of those we ascribe worth to. The foundation of the whole idea is to scam everyone out of owning anything by making us indebted with money they loan us out of nowhere. The whole media empire bombards us with advertisements telling us what we "NEED" to be worth anything. Not only do they take what you have when you can't pay them back the nothing that they loaned you, but they get the government to make them whole by printing them more nothing that they use to buy real stuff.

Real estate is going down because the loaning nothing ponzi game is over basically. Real estate went up ridiculous amounts in the 1st half of the last decade. Home "values" increased 100's of % while wage growth was basically stagnant. If $100,000 house in 2000 appreciated to $350,000 in 2006 because of loan ponzi schemes and today it is worth $225,000, I'd say it is still way over valued. It is difficult to say just how much fake economic growth needs to come off the top yet. Shit, some people theorize the $ has depreciated 95+% since it was created. Well, how far do nominal prices today have to deflate until we get to a real $ value?

The big scam is really to con most people into being over indebted and take everything from them in the end. It doesn't really matter how much something is worth so much as it matter WHO OWNS IT. These paper money values mean nothing. As long as they can tax something, we never really own it. People with no mortgage THINK they own their property. I always tell them that famous line, "Try not paying your taxes once and find out who owns your property".

Jul 18, 2011 - 2:50pm

"When to call an entry

"When to call an entry point

Submitted by brokeboater on July 18, 2011 - 2:24pm.

What works for me is to scale in slowly. If the price goes up, buy more. If the price goes down, buy more. Back in the day when I was scaling into gold, I'd make a purchase for every $10 move. If it moved back through one of my buy points, I didn't re-buy, only if it was a new range. That worked great for establishing a long term position. Of course, I wish I'd gone all in at the beginning now, but it could have been different. My goal was preservation of capital.

And kudos to the longs who have hung in there. I bailed fairly quickly on my trading position, leaving a good bit of cash on the table. OTOH, I was green for the year and couldn't resist the temptation. 'Tis a bummer to be sitting at the station watching the express train's tail lights. Thank goodness for core positions as they do lessen the sting.

Is it better to be left at the station but still in the green, or underwater but well situated on the "to the moon" express?"

So well said. I should've added... as long as the train is headed to the moon, eh? Hey, Vinz--this is good advice.

Jul 18, 2011 - 2:46pm


Bix Weir wrote: Wednesday, July 13, 2011 2:55 PM "Watch for SILVER to blast through all the bankster "set-up" sell stops in the coming months. The CFTC, believe it or not, now has the POWER to stop the manipulators so we won't see another 30% slam in Silver...EVER AGAIN!" This would be a good thang. Bull

Jul 18, 2011 - 2:42pm

There is an old saying

There is an old saying regarding the markets: The stock market's primary function is to make as many people as it can, look as stupid as possible. The idea behind this old saying is that many times, even when everything seems "perfect", there are always things brewing/simmering under the surface that can't yet be seen by most, and massive losses result. This is, however, what makes a "free market" and is how the markets maintain checks and balances in the system. We currently have a market system that is being propped up synthetically, as all of us know. We have a level of corrupt manipulation, managed perceptions, and streams of lies by our "leaders" on a scale never before seen. The regulatory bodies that are supposed to be in place to keep the market honest and protect investors from fraud have been compromised and are working in collusion with those that are attempting to maintain this illusion that progress is being made, the economy is healing, and all of the other desperate attempts to continue a system that is broken beyond repair. The key word here is desperation. Things are beginning to get unruly and chaotic in Western economies. There is so much chatter going on amongst traders it is actually hard to sort it all out and understand what is happening. Something BIG is about to happen. The latest COT reports show that the large commercial shorts, meaning the same culprits ie., the big banks, have been bombarding naked shorts on the gold markets trying to artificially suppress the price down. Couple this with the seasonal fact that the summer has always been, historically, a very slow "consolidation" period for gold, and PM's in general. Yet, with all of this naked, unbacked by any real gold, paper selling they are blanketing over the market, and even though there aren't SUPPOSED to be any buyers of size in the summer months, they can NOT keep the price down. For the first time, in so long I can't even remember, many commodities are down, the markets are down, but gold and silver are actually acting like they are SUPPOSED to act in this environment, ie., a safe haven. Additionally, the silver inventories at Comex have now dropped to well below 27 million ounces. This will continue, and there is nothing the "deciders" can do to stop this accelerating inventory depletion except to release the price and let it play out to generate sellers.

Again, to condense and re-state: Something big is coming. As soon as it clarifies a little bit more, I'm sure it will be all over the blogs and "fringe" media. The word is out that a close above $1600 gold, and $40 dollar silver is BAD for the shorts, and will create a short squeeze. This chatter is also all over the trading desks, and King World News picked it up as well. The Comex has closed, and they are both over those levels. This could get real interesting this week. Expect them to fight hard to try and drive these prices back down, but I don't think they can defend this level. I think they'll have to retreat to higher ground and re-fortify their "troops" there. It makes sense as Turd has pointed out, that they will try to paint a double top at the $50 dollar level again, but the cabal running this show is getting more and more brazen, so they are capable of anything. They are not scared of regulatory action, the regulators are bought and paid for. They are not afraid of the Fed, they ARE the Fed. They are not afraid of Congressman, or Senators, the majority of which have been bought and paid for as well, and thus compromised. However, again, something big is in the offing, and it's feeling like much of this Ponzi is beginning to unravel. If they let it go "to far" to "manage perceptions" in order to usher in QEIII with enough political will, they run the risk of losing control of the markets. I think this happens anyway, the market is to big globally to control by a handful of corrupt bankers. But they can drag it on for another year or two with additional money printing if they handle the situation right. But the same rules of market psychology apply to the "planners" as well. The market will make them look equally stupid when it's ready...

Jul 18, 2011 - 2:35pm

where to look to see if you won

because i spent ages trying to find my guess ....

this is the blog post to check your prediction

Jul 18, 2011 - 2:33pm

Monday - Google Trends

Hey Turdities...

Last weeks interesting week has spilled over to this week:-)

This is kind of getting exciting...Someone please start fanning the financial issue for a faster burn...Mind you, 'they' are doing that quite well on there own...

Noticed some interesting top trends on Google for today:


Jul 18, 2011 - 2:30pm


I tend to agree with you .... many people think that is crazy .... I think it quite logical .... we buy physical metal with fiat we earn .... they buy physical assets with fiat they print and lend .... looked over a chart this morning listing all the countries of the world and their percentage of gold holdings to net assets .... all the PIIGS were there except for Ireland

Gold % of NA

Portugal 382.5 tons 84.8

Italy 2451.8 tons 71.4

Ireland not enough to make the chart (Canada & Australia absent also ?)

Greece 111.5 79.5

Spain 281.6 40.7

lend them fiat until they default then take the gold 1st and then other assets .... as far as Ireland is concerned no gold makes me think they are left to default .... IMHO

Jul 18, 2011 - 2:26pm

@ OC 15

I had a similar experience where a mainstream financial advisor opened his remarks to a luncheon crowd by discussing an older gentleman, a friend of one of his clients, who had actually taken delivery of some gold bullion and was storing it at home. He made his best attempt to solicit snickers from the 75 person audience. When asked pointedly about owning precious metals, his answer was sure, some minimal position in an ETF or perhaps and established mining company might be OK.

I spoke with several folks afterward who were curious, but you could see in their eyes and hear in the response that PMs must be for "someone else." They could not bring themselves to consider something that was somehow not more in their mainstream.

Most don't have a clue is right!

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