I Hope You're Ready

Tue, Sep 6, 2011 - 9:37am

This is certainly setting up to be a wild and wooly week. Traders around the globe are back from "holiday" and realizing that things are seriously messed up. The latest symptom of which is this:


Now, the proper question to ask yourself is "why?". Why would the Swiss attach their currency to the dreadful and soon-to-be-meaningless euro? What do they know that we don't know? What are they afraid of? I suppose we'll have our answers in due time.

To no one's surprise, The Cartel used the Swissie headline as cover to initiate their usual 3:00 am raid. As you can see, gold was immediately bid back up.

Speaking of being bid back up, gold made new alltime highs before the raid, topping out at $1923.70. This gives us a rather interesting statistic:

1) Gold margins were hiked on 8/11 with the price at 1818. After a quick 5% correction, price had fully recovered one week later and was trading back above 1818 on 8/18.

2) Gold margins were hiked again the day after gold reached 1918 on 8/23. After a quick 10% correction, price has fully recovered nine days later.

Hmmm. I guess we know to buy the dip the next time gold margins are raised. Probably in another week or so or once gold trades through $2000.

For today, expect lots of volatility and wild swings, even on the 1-minute chart. Price may dip again into the targeted area shown below and I'll be waiting for it if it does. By the way, there is no double-top. That talk is all EE-inspired nonsense. Remember, the Forces of Darkness will always attempt to create selling by painting double-tops, reverse H&Ss, ORDs, etc. Do not fall for this foolishness. Gold is going higher.

Silver is once again caught up in the whole "is it a currency or is it a commodity" thing. Today, the world apparently thinks its a commodity as it is down about $1 in sympathy with stocks, crude and all of the other "risk off" trades. Whatever. BTFD. For today, if I get a chance to buy it under $42, I'll be all over it like stink on sht, like white on rice, like ugly on an ape, like...well, you get the picture.

That's all for now. Gotta go. More after the close. TF

About the Author

turd [at] tfmetalsreport [dot] com ()


Sep 6, 2011 - 9:56pm

Thanks Larry, friends as

Thanks Larry, friends as always brother.


Sep 6, 2011 - 8:28pm

RE: A " Perfect Storm" is Forming


Well yes... as you can see their is a temporary rush into the US dollar… I know I would not buy however the majority will...the Greenback “ Comfort” is like coming home after a long leave or home cooking for many. This is a game of confidence and nothing else – and a strong Greenback will signify “ Strength” however short lived or un-fundamental.

Review the recent demise of the Swiss Franc – this is no error they system cannot fail on its own. It has to be a combine effort of failure the Swiss have now joined the party.

I do hope it gets knocked down as I have mountains of “ DRY POWDER” ready to jump back into this game.

again IMHO... Cheers

Sep 6, 2011 - 8:08pm

James Hillman on Paper "Persons" and Trading ~~~

Only 44 seconds ~ But this is a bit of seeing our financial world unraveling from a deeper point of view ~ American archetypal psychologist - James Hillman

Accentuate the Positive
Sep 6, 2011 - 7:27pm

Could someone share thier

Could someone share thier opinion on my situation.I've LOADED up on some SLV Oct 60 call's.I got in alittle high at 16 cents per option,is there any waythis thing is going to come my way in time to save my perverbial butt?Thanks to anyone who can help Johnboy

Sep 6, 2011 - 7:13pm

IMF says global economy faces a 'threatening downward spiral'

The International Monetary Fund has called on the US and Europe to abandon fiscal austerity and switch to stimulus measures, warning that the global economy faces a "threatening downward spiral".

"There has been a clear crisis of confidence that has seriously aggravated the situation. Measures need to be taken to ensure that this vicious circle is broken," she said.

The comments come at the start of a dramatic week for the eurozone as Italy prepares to roll over record sums of debt and Germany's constitutional court (left) issues its long-awaited verdict on the legality of the EU's bail-out machinery.

Markets are already tense after the EU-IMF 'Troika' withdrew abruptly from Athens on Friday, accusing the Greek government of failing to comply with rescue terms.

This story was in the Monday edition of The Telegraph......and the link is here.

Sep 6, 2011 - 6:48pm

@CPN,Slavery was wrong,


Slavery was wrong, agreed, but it was not the reason for the war. 75% or more of fed revenue came from import duties on the south as they refused to buy inferior goods from northern manufacturers. When the Morrill tariff was enacted tax rates went from 20% to 48%. Small farmers couldn't afford this as it would bankrupt them.

Lincoln-Douglas debates

I am not, nor ever have been, in favor of bringing about in any way the social and political equality of the white and black races, that I am not nor ever have been in favor of making voters or jurors of negroes, nor of qualifying them to hold office, nor to intermarry with white people; and I will say in addition to this that there is a physical difference between the white and black races which I believe will forever forbid the two races living together on terms of social and political equality. And in as much as they cannot so live, while they do remain together there must be the position of superior and inferior, and I as much as any other man am in favor of having the superior position assigned to the white race. I say upon this occasion I do not perceive that because the white man is to have the superior position the negro should be denied everything. I do not understand that because I do not want a negro woman for a slave I must necessarily want her for a wife. My understanding is that I can just let her alone.[24]

1st inaugural address:

Apprehension seems to exist among the people of the Southern States, that by the accession of a Republican Administration, their property, and their peace, and personal security, are to be endangered. There has never been any reasonable cause for such apprehension. Indeed, the most ample evidence to the contrary has all the while existed, and been open to their inspection. It is found in nearly all the published speeches of him who now addresses you. I do but quote from one of those speeches when I declare that "I have no purpose, directly or indirectly, to interfere with the institution of slavery in the States where it exists. I believe I have no lawful right to do so, and I have no inclination to do so." Those who nominated and elected me did so with full knowledge that I had made this, and many similar declarations, and had never recanted them. And more than this, they placed in the platform, for my acceptance, and as a law to themselves, and to me, the clear and emphatic resolution which I now read:

Resolved, That the maintenance inviolate of the rights of the States, and especially the right of each State to order and control its own domestic institutions according to its own judgment exclusively, is essential to that balance of power on which the perfection and endurance of our political fabric depend; and we denounce the lawless invasion by armed force of the soil of any State or Territory, no matter what pretext, as among the gravest of crimes."

My point is if Lincoln would let slavery continue and thought blacks were inferior, why was there a war?This is one of the greatest propaganda programs ever perpetrated on the people of this country. Also, check out how many countries around the world abolished slavery in the 1800's without a war. It was about $$ my friend, same as today. They are gonna screw us for every friggin penny they think they can get and then piss on us when we ask for help. History provides fabulous guidelines if we will just read them. A lot of this comes from my grandparents who told me about the atrocities committed on southern civilians during the war and the destruction of their grandparents property. If all you have ever read is gov't info you are so mis informed and that is not a dig but the truth. God bless all, sorry for the long rant but it had to be said.

Big L
Sep 6, 2011 - 6:31pm

Join the Euro?

Why would the Swiss attach their currency to the dreadful and soon-to-be-meaningless euro?

Why cling to a sinking boat?

#1 The boat you were on already sank.

#2 You believe the other boat passengers will be rescued and you want to join them.

#3 You can save some passengers and profit. ( Warren Buffet/BOA?)

Just thinking out loud.....?

Bobbejaansilver foil hat
Sep 6, 2011 - 6:20pm

RE :- Nigeria Shifting FX Reserves to Chinese Yuan

How will this affect my windfall from the Nigeria National Petroleum Company?

I think I can see alittle chink in your future plans [wink]

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BillAuAgsilver foil hat
Sep 6, 2011 - 6:08pm

How will this affect my

How will this affect my windfall from the Nigeria National Petroleum Company? Maybe I should e-mail my Barrister, John M'Gotyu.

Nigeria is slowly falling under the dark cloak of Islam. In ten years Christians will be purged from the country.

In addition China is actively working the country for Gold and rare earths. It's a simple matter to get a government bureaucrat to say they want the RMB. How much do you think it costs to bribe a Nigerian bureaucrat?

silver foil hat33 and a turd
Sep 6, 2011 - 5:38pm

re: Nigeria Shifting FX Reserves to Yuan

How will this affect my windfall from the Nigeria National Petroleum Company? Maybe I should e-mail my Barrister, John M'Gotyu.

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