No Charts Tonight

Thu, Sep 22, 2011 - 11:27pm

After a long day, I knew I had to post something for you. If anything we have to start a new thread because the old one is now over 600 comments. I could take what has become the usual theme and expand on it but I'm not going to. No charts tonight. Just a brief, frank discussion about what is to come.

First of all, for those who still think in fiat status quo terms, on a percentage basis gold was down far less than equities today. If you're in silver, you got your butt kicked. But hey, if you're going to be trading silver, you'd better get used to getting your butt kicked every once in a while. When you're in a market that is controlled and dominated by an uber-short which can manipulate price at any time of their choosing, you are, occasionally, going to get your butt kicked. Period.

But my questions for you tonight are: Why does this even matter? Are you angry tonight because the fiat-conversion value of your gold and/or silver stack declined? And why did it decline? Did it decline because actual demand is less or did it decline because the paper-metal, 100:1 leveraged futures market went down? And why are you buying and holding metal in the first place? Is it because you're trying to make a fiat-based trading profit? Really? Well, OK. But why are you doing that? So you can take your profits and buy more physical metal? If that's the case, you should celebrate days like this because your fiat buys you more metal tonight than it did last night. And is QE over? Is the dollar suddenly the world's strongest currency because the U.S. implemented about $1.5T in 2012 austerity measures overnight?

Look, you need to understand right here and right now that we are far closer to the end than you think. I know how hard that is to comprehend, especially coming from a guy you don't know, who writes an anonymous blog under the pseudonym of "Turd". And I know its hard to believe because, if you were born after 1930 or so, you've never known a world without U.S. hegemony. Life has always been easy for the U.S. and its pals. We manufacture money out of whole cloth and stash the incumbent inflation on the shores of our unsuspecting imperial subjects. Well, those days are over, my friend. The proverbial chicken isn't just coming home. It's on the roost right freaking now!

Of all the things that The Bernank could have done yesterday, $400B in "Operation Twist" was actually the worst possible move. Quantitative Easing was always designed to buy time. Time was purchased in the faint hope that the economy would recover sufficiently to generate enough tax revenue that The Great Ponzi could continue. In the end, it wasn't going to work but at least, if The Bernank had opted for another trill or so of new QE, he might have succeeded in putting off the inevitable a little while longer. Now, the smartest-guy-in-the-room thinks he can massage just enough global chaos to create demand for the $400B in short-term treasuries he wants to sell. But the problem is, Mr Smart Guy won't be able to control the chaos he's created and the attendant global economic freefall will only serve to destroy the last hope of the economic growth needed to stave off the ultimate Keynesian collapse. It's a fait accompli now. Done deal. Over and out.

So, going forward, this site is going to return to its originally stated goal:

The end of the Great Keynesian Experiment is upon us. Prepare Accordingly.

Don't worry, I'll still attempt to predict future, short-term movements in gold and silver but that is not going to be the primary focus of this site. It can't be. Why? Certainty. Huh?

1) No one...not even the Great and Powerful Turd...can, on a consistent basis, predict price with a high degree of accuracy.

2) I can, however, tell you with 100% accuracy that tomorrow is not going to be like yesterday. The world in which you grew up is not the world in which you will grow old.

If, by the grace of God, we've been granted the wisdom to see this future clearly, then it is incumbent upon us to use this platform to warn and educate as many as possible while there is still time to prepare.

That's all for now. It's been a long day and I need some R&R. Let's see where the metals trade overnight. I strongly suspect that the paper futures market is headed down to fill the gap on the chart from 8/7/11 at 1665 or so. Probably not tomorrow but soon. We'll see. More in the U.S. a.m. TF

About the Author

turd [at] tfmetalsreport [dot] com ()


Sep 22, 2011 - 11:34pm

I love it

When a plan comes together............Thanks Ben for the price break.

Sep 22, 2011 - 11:35pm

First! Are you kidding me?!

First! Are you kidding me?! Awesome!!

Sep 22, 2011 - 11:37pm

Keep stacking, I love this

Keep stacking, I love this stuff.

3rd is good with me.

Sep 22, 2011 - 11:39pm

Bless you Turd.  Rest well.

Bless you Turd. Rest well.

Muddy Chicken
Sep 22, 2011 - 11:39pm

Great Post

It feels ominous in silver. 2008 style.

Sep 22, 2011 - 11:40pm

Royally f*cked

Consider the meaning of that phrase. Royally, as in by a majestic power, one that has absolute control over the facets of your life. That's how I feel and if you don't as well, there's something missing from your picture.

Turdle GG
Sep 22, 2011 - 11:42pm

For Turd, with thanks

There are many in need. When someone says, 'Why doesn't God do something about it?' I think, 'He did. He sent you. Why do you think you are here?' So there is always something to do, even if it is a small thing, little and unnoticed by the world. You have not been created in vain. You have your work, you have your calling that no other person can perform the same as you.

(stolen from Jesse)

Sep 22, 2011 - 11:42pm

Thanks Big T

God Bless

Long John
Sep 22, 2011 - 11:42pm

thanks Turd...

...I needed that~

Sep 22, 2011 - 11:44pm

Repost from the end of the

The Mutton Birds - Anchor Me (Original Version)
Key Economic Events Week of 2/17

2/18 8:30 ET Empire St Manu Idx
2/19 8:30 ET Producer Price Idx
2/19 8:30 ET Housing Starts & Bldg Perms
2/19 2:00 ET January FOMC minutes
2/20 8:30 ET Philly Fed
2/21 Fed Goons all day at Chicago Conf.
2/21 9:45 ET Markit flash Feb PMIs

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Key Economic Events Week of 2/17

2/18 8:30 ET Empire St Manu Idx
2/19 8:30 ET Producer Price Idx
2/19 8:30 ET Housing Starts & Bldg Perms
2/19 2:00 ET January FOMC minutes
2/20 8:30 ET Philly Fed
2/21 Fed Goons all day at Chicago Conf.
2/21 9:45 ET Markit flash Feb PMIs

Key Economic Events Week of 2/10

2/11 10:00 ET Job Openings
2/11 10:00 ET CGP Hump-Hawk House
2/12 10:00 ET CGP Hump-Hawk Senate
2/13 8:30 ET CPI
2/14 8:30 ET Retail Sales
2/14 9:15 ET Cap Ute & Ind Prod
2/14 10:00 ET Business Inventories

Key Economic Events Week of 2/3

2/4 10:00 ET Factory Orders
2/5 8:15 ET ADP Employment
2/5 9:45 ET Markit Service PMI
2/5 10:00 ET ISM Service PMI
2/6 8:30 ET Productivity & Unit Labor Costs
2/7 8:30 ET BLSBS
2/7 10:00 ET Wholesale Inventories

Key Economic Events Week of 1/27

1/28 8:30 ET Durable Goods
1/28 10:00 ET Consumer Confidence
1/29 10:00 ET Pending Home Sales
1/29 2:00 pm ET FOMC Fedlines
1/29 2:30 pm ET Powell presser
1/30 8:30 ET Q4 GDP first guess
1/31 8:30 ET Pers Inc and Spending
1/31 9:45 ET Chicago PMI
2/2 10:00 pm ET Chiefs win SB LIV

Key Economic Events Week of 1/13

1/14 8:30 ET CPI
1/14 9:00 ET Goon Williams
1/15 8:30 ET PPI and Empire Fed
1/16 8:30 ET Retail Sales and Philly Fed
1/17 8:30 ET Housing Starts
1/17 9:15 Et Cap Ute and Ind Prod

Key Economic Events Week of 1/6

1/7 8:30 ET US trade deficit
1/7 10:00 ET ISM Services PMI
1/7 10:00 ET Factory Orders
1/8 8:15 ET ADP employment
1/9 8:00 ET Goon Chlamydia speech
1/9 1:20 ET Goon Evans 2:00 ET Goon Bullard
1/10 8:30 ET BLSBS
1/10 10:00 ET Wholesale Inventories

Key Economic Events Week of 12/16

12/16 8:30 ET Empire State Manu Idx
12/16 9:45 ET Markit flash PMIs Dec
12/17 8:30 ET Housing Starts and Bldg Perms
12/17 9:15 ET Cap Ute and Ind Prod
12/19 8:30 ET Philly Fed
12/20 8:30 ET Final guess Q3 GDP
12/20 10:00 ET Pers Inc and Spending
12/20 10:00 ET Core Inflation

Key Economic Events Week of 12/9

12/10 8:30 ET Productivity and Unit Labor Costs
12/11 8:30 ET CPI
12/11 2:00 pm ET FOMC fedlines
12/11 2:30 pm ET CGP presser
12/12 8:30 ET PPI
12/13 8:30 ET Retail Sales
12/13 10:00 ET Business Inventories
12/13 11:00 ET Goon Williams speech

Key Economic Events Week of 12/2

12/2 9:45 ET Markit Manu PMI
12/2 10:00 ET ISM Manu PMI
12/2 10:00 ET Construction Spending
12/4 9:45 ET Markit Services PMI
12/4 10:00 ET ISM Services PMI
12/5 8:30 ET Trade Deficit
12/5 10:00 ET Factory Orders
12/6 8:30 ET BLSBS
12/6 10:00 ET Wholesale Inventories

Key Economic Events Week of 11/25

11/25 8:30 ET Chicago Fed Nat'l Idx
11/25 7:00 pm ET CGP speech
11/26 8:30 ET Advance Trade
11/26 9:00 ET Case-Shiller home prices
11/26 10:00 ET New home sales
11/26 10:00 ET Consumer Confidence
11/27 8:30 ET Q3 GDP 2nd guess
11/27 8:30 ET Durable Goods
11/27 9:45 ET Chicago PMI
11/27 10:00 ET Pers Inc & Cons Spndg
11/27 10:00 ET Core inflation
11/27 2:00 pm ET Beige Book

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