Of Revolution and Revolutionaries

854
173
Fri, Sep 30, 2011 - 11:29am

Thanks, everyone, for the "day off" yesterday. I needed to step away and clear my head. A little fresh air always helps the cause. It's Friday. I'm back. And there are a few things we need to discuss.

First of all, the markets in general. I can't find a single one I like. The "dots" of impending collapse are everywhere. The challenge is to try to connect them...or at least connect them in a reasonably accurate manner that allows you to move with confidence. In the end, though the global central banks seem to have unlimited fiat with which to prop them up, worldwide equity markets look as if they are perilously close to outright collapse. And don't ever forget the ultimate, short-term benefit that would befall the U.S. should this occur, first eloquently brought to our attention by the great Tyler Durden nearly two years ago:

https://www.istockanalyst.com/article/viewarticle/articleid/3739425

As this pertains to the PMs, traders should exercise supreme caution here. As you can see on the charts below, a breakdown today could foreshadow even more weakness next week. As I mentioned Wednesday evening, given the unprecedented level of C/C/C manipulation we've seen, I doubt they're done. Lots of moving averages out there that might provide support levels but I'm sticking with my ruler and sharpie and they continue to show possible bottoms near $24 and $1480. Again, if you must trade, please be cautious.

Lastly, I've noticed that, nearly every day, discussion increases here regarding the ongoing protests in New York. Many here are very passionate about the dangerous and tenuous position in which the current system of crony capitalism and banker oligarchy has left us. Fine. Me, too. However, I do not feel that Marxism and Marxism-lite (socialism) is the answer.

Perhaps one or two of our NY-based turdites could venture down toward lower Manhattan tomorrow to ask a few questions of these peace-loving youths so many seem to idolize. Let's start with:

1) What is the Federal Reserve, what is it's function, when was it created and what policy are they currently following that is so ruinous to the life savings and purchasing power of the average citizen?

2) What is a Credit Default Swap and what role did it play in the 2008 financial crisis?

3) In hindsight the repeal of the Glass-Steagall Act in 1999 was not a very good idea. What was the Glass-Steagall Act and why was it important?

4) Going forward, which type of leader do you prefer? George Washington or Vladimir Lenin? Martin Luther King or Che Guevara?

I'm not going to wait for the answers. Why should I when I already have evidence like this:

Cornel West's Closing Remarks at Speach at Liberty Plaza in NYC

Is this an intelligent, thoughtful group which seeks reform within the current capitalist system that has defined America for 235 years OR is this simply a group of mind-numbed, "useful idiots" blindly repeating the mantras of a marxist revolutionary? You decide.

Clearly, in managing the situation, some police officers have over-reacted. This is always disheartening. Given the mayhem that has accompanied similar anti-capitalism "protests" in cities such as Seattle and Toronto, it would seem that the NYPD is not looking to be overly-friendly. This does not mean, however, that our mantra is "F the Police". If you think that the police are the enemy, then I must ask you two questions:

1) The next time you are in trouble....from a home invasion, a simple assault or a car accident...who will you call? Maybe you can take of yourself just fine but who will your spouse call if you're not around? How about your daughter? How about your mother? Who will they call?

2) And how did you feel about the police on 9/12/01? Were you proud of them or did you go around yelling "F the police"? Then ask yourself: What has changed? Have the police changed or have I changed? Your honest answer to that question needs to be considered.

Ok, time to conclude this post. Please understand, I know that the current system is unsustainable and must be changed. I am not, however, throwing in my lot with this first batch of "protesters". Marxist revolutions only lead to tyranny and mass graves and I won't be a party to it. Instead, we need a revolution of personal freedom and responsibility. We must reclaim representative democracy and free enterprise. When that movement finally takes to the streets, count me in. To that movement only, I will happily pledge my life, my fortune and my sacred honor. TF

p.s. Given the "controversial" nature of this post, the comments sections will be closely monitored. All views and opinions are welcome but anyone not observing TurdWorld Rule #1 (treat others the way you want to be treated) will likely see their comments deleted. We need more peace and less hate in this world and I will not allow this site to promote anger and hostility. We are all on the same team here and we need to work together if we are going to survive the turbulence ahead.

About the Author

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turd [at] tfmetalsreport [dot] com ()

  854 Comments

jrobb316
Sep 30, 2011 - 11:31am

No way

First!

Eric Original
Sep 30, 2011 - 11:34am

Way!

Way!

Piano Racer
Sep 30, 2011 - 11:35am

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Found this deal on the tubes, one per household, but it's legit and I've already ordered mine:

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Keep stacking, fellow Turdites!

ScottJ
Sep 30, 2011 - 11:37am

Oh $HUI, You Shouldn't Have

With the general stock markets looking like they are on their way to the abyss... the $HUI (gold miner index) is showing signs that the bottom being found in this $520 range. A dead giveaway to any type of fear that is trying to be instilled that the gold/silver market with regards to further weakness. (imo only).

Today's action is pretty sweet. A move over the 5day moving average with a pretty nice bullish engulfing candle. If this holds and can gain ground, things are looking good for miners, on a technical level. .

FriedEggs
Sep 30, 2011 - 11:38am

In order to be

a cop - for the most part (not all) you need to have that 'certain type of personality' ... if you know what i mean.

.

And that personality - is usually one i don't click with. Call it power tripping, call it being a bird or an asshole... but something that's standard in most of them.

.

Fried(e)

Shill
Sep 30, 2011 - 11:39am
theweid
Sep 30, 2011 - 11:41am

Jethro Tull

Once I used to join in
every boy and girl was my friend.
Now there's revolution, but they don't know
what they're fighting.

-Jethro Tull "Living in the Past"

Dr G
Sep 30, 2011 - 11:43am

Missed my morning Turd.

Missed my morning Turd. Feeling much better now, irrespective of what's happening in the markets.

Another well-written and honest post. As I've said before, it's not always the Turd's content that gets me to smile, but it's the honesty. We don't see honesty like this in many places. I know who I want standing beside me when things get really bad. An honest guy. A Turd.

Major hat-tip to Turd.

jrobb316
Sep 30, 2011 - 11:44am

In regards to the police. It

In regards to the police. It is disheartening when they have been doing (and everywhere for some time now) however the police force is set up so good people get out and the bad stay in. They have become a federalized goon squad that also needs education about the oath they all swore. I do not hate police. Many are the best people out there, genuine people that do want to serve and protect. Many know what's going on and to those that will not violate their oath and a citizens rights, I salute you.

cpnscarlet
Sep 30, 2011 - 11:45am

No, you come on!

Police never, ever have an excuse to harass or beat protesters during a peaceful protest. Pepper spray, taser, lead-in-cloak - nothing excuses the gov't stopping people from exercising a right. Peaceful protests are a practical expression of the 1st Amendment Right of Free Speech.

But if I have to listen to one more bull dyke spouting the joys of socialism, someone's getting their lights punched out!!!

There. How's that for a compromise???

Pale Green Horse
Sep 30, 2011 - 11:46am

Have The Police Changed or Have I?

I would like to give comprehensive answer to this question because it is a good one, so I will tonight after work.

Xeno
Sep 30, 2011 - 11:46am

Right On TF

TF, you are soooo right The ongoing cost of freedom is responsibility in all things.

Tom L
Sep 30, 2011 - 11:46am

$USDX

A 30 minute close below 78.85 on the USDX would end this current spike up.

Ta,

The Vet
Sep 30, 2011 - 11:46am

Silvercorp - SVM - Analysts tour mine and facilities..

Looks pretty real to me and they have quite a few independent observers who know their way around mines and financial books... From the photos here it looks like everything has been made available for scrutiny. Not the action of a dishonest company.. Can I smell the delightful aroma of singed shorts in the air this morning. SVM currently $8.15 up 0.36 on the day.

https://silvercorpmetals.com/projects/china_tour_gallery/

STATCH
Sep 30, 2011 - 11:46am

I just think there needs to

I just think there needs to be some respect towards both parties. The protesters as well as the law enforcement. I personally can't wait for a real revolution in our monetary policy and financial structure.

Gold Buffalo
Sep 30, 2011 - 11:46am

That's Better

Thanks Turd, glad we are back to a single post at the top of the page. The Double Sticky posts seemed to attract comments on two different threads which is not as easy to follow. That happens as well even when there is only one Sticky post that is kept there for a few days.

question
Sep 30, 2011 - 11:48am

Thanks Turd

Well said. Couldn't finish the vid; mindless chaos blindly followed making tummy hurt.

Spirit of the universe help us if that's the best protest that can be mounted.

SO sad.

Glad this weeks over (almost); sideways is more enervating than up or down.

HeNateMe
Sep 30, 2011 - 11:50am

Right On Turd

I agree. I am waking up from my twenty-something idealist viewpoints and moving into more conservative but balanced perspectives. At 34, I am viewing the world in a different light. I believe (based on the nature of humanity) that most police officers are on the up and up wanting only to protect and serve. I also believe that these very young protestors (as can be seen from the footage) honestly believe they are fighting something evil. However, they don't truly know what they are fighting, what they really want, or what is feasible in the future. Utopia is only an idea in one's mind.

I believe naive would be my word to describe what these protest are about, right now. I can vouch because I used to be 25 and furiously writing letters to the editor about how we should all be loving each other and living in peace. But I ignored (or couldn't see) the true nature of reality: polarity.

I am very grateful for the police but I am also thankful that those youngsters have the right and ability to stand up and speak their mind even if it is incoherent or idealist.

HeNateMe

D E
Sep 30, 2011 - 11:52am

Kids today...

like kids of yesterday. La Boheme for the sex and drugs. They probably don't get what happened at all, given that the corruption is truly the only bipartisan agreement we have, but you do have something: part of the so-called "left" has woken up to the massive theft which has occurred by the bankster class. If they apply themselves (a HUGE if) they might be able to decipher it, but hard work is not a hallmark of this demographic.

I believe we are on the cusp of major change, as the current system will not stand the economic disruption which is continuing to ripple through the world. Where that takes us, I don't know, "but if you go carryin' pictures of chairman mao, you ain't gonna make it with anyone anyhow..."

Lumpy
Sep 30, 2011 - 11:53am

Imagine

Imagine - John Lennon
The Vet
Sep 30, 2011 - 11:54am

Civil Unrest anywhere in the US

can't be good for the value of the dollar, but that point doesn't seem to get through to US centric traders. The rest of the world will notice however, even if it takes a little time to play out....

H8Fiat
Sep 30, 2011 - 11:55am

Agree with much

Fully agree Turd with assessment of Wall Street protestors. Could we get AARP to support efforts? I believe that would make an impact and they are additionally ones being hurt from Fed / US Gov fiscal policy.

In regards to police, I believe most to be armed tax collectors. Do you feel happy when you see a cop off the side of the road with a radar gun? Do you become more relaxed when you see one sitting at a traffic light?

When seconds count, police are just minutes away.

Waffen
Sep 30, 2011 - 11:56am
140

Police over the decades have

Police over the decades have become more and more "us vs them." They protect and serve the state, not the people, Sheriff Nottingham's men.

How else can you explain police wanting to put people away for life for filming them. I can say when 911 happened, I didn't give two cares about the police and fireman that died in 911. yes that sounds awful, but as a Texan I can with 100% certainty tell you that the wars in the Middle East are not my wars and never have been, Wall street wars and manipulations sowed these and they are reaping what they sowed.

I was much more concerned about the backlash from 911, (attacks on liberty and freedom, then the deaths of innocents, or as Max Kaiser refers to many as economic mercenaries).

One other thing, I reminded myself when it happened.. Who cared about the millions of Tutsi's hacked to pieces by the Hutus? Who cared about the children killed by our government in Waco? Why are the victims of 911 more important then those? It is hypocrisy and delusion to elevate those above the others and I will not fall for it.

Back to the police, the police are not your friends, they are the force of the state and yes there are a few good ones still, I advise you do all you can to not invite them into your life.

Jasper Puddlemaker
Sep 30, 2011 - 11:57am

Eric King interviewed Martin Armstrong...

Didn't see this posted yet. Eric King has interviewed Martin Armstrong. The audio interview will be posted "shortly."

D E
Sep 30, 2011 - 12:00pm

Cornel West

Exhibit A in getting rid of tenure...

ScottJ
Sep 30, 2011 - 12:01pm

A Collection of My Recent Thoughts....

Sorry for the continual spam of some of the same things I have written.... but just wanted to link together my thoughts....

I speak with no certainty... I feel that is obvious but I intend to make that clear.

Not to keep barking the same tree.... but I have made the argument that gold/silver are now going to catch the safe-haven bid alongside the dollar/treasuries. Obviously anything could happen, but what is logically going to happen here? We were well overdue for a pullback in gold back to the 100day MA... we must admit that..... it should have been paid more attention too..... that and this pullback was practically setup with the gap-up to start the run to 1900....

These current lows in paper gold/silver time exactly with comex options expiration and settlement dates..... We have seen this cycle before, as I have mentioned in a previous post "It's all about cycles." I also would like to keep noting that we have not seen any of these lows in normal market hours...

A close over 1639 (the 100day moving average).... is what I am interested in seeing.

https://www.tfmetalsreport.com/comment/37494#comment-37494

Now with specifics on why I think gold would catch the safe-haven bid instead of sell-off with equities... you just have to look at where we are in the cycles, with respect to the micro details and the macro details.

You seem to agree that there is a possibility for a large equity sell-off next week, as the H&S pattern found in the major indices will resolve itself next week.... not 2 or 3 weeks down the road. If this pattern fails, equities will go up (probably on dollar weakness), which would also be gold positive.... but let's examine equities down (and probably dollar up).

Before doing so, I must mention that gold/silver are priced in Comex Futures (as most know), and one of their "ritualistic" (cyclical) routines is that they paper gold/silver often put lows near the comex expiration/comex settlement dates.... which happen to have been on Tuesday, and Today.... here is Harvey Organ's explanation of why this happens.... in essence, to cause paper pain on the holders of comex contracts so they do not stand for the metal (their whole goal is to keep physical demand low enough before unleashing the beast when they are ready to further their agenda).

Jesse's Cafe will show you this happens quite often. https://jessescrossroadscafe.blogspot.com/

So... when you take into fact that gold and silver have now passed this "ritualistic" take-down part of the month... and the fact that silver hit 26$ in the overnight session (Sunday Night) and has barely been under $30 during US trading hours... and gold only hit 1535 in the overnight session on Sunday Night, and has been over 1584 (santa's support... in which is derived from the exponential increase in gold prices) in all normal trading hours... then you can see that there is not intention to have major trading take place in these zones. If these prices can't appear in normal trading hours during "a slide like this," they won't be the new normal pricing, however demented these markets would be. Thus, in a situation where the equity markets were tanking (like they did in August), I would expect another safe-haven run into gold and treasuries (or at least that is what will be spinned)....

And my other comment here: "It's not rocket science, but EE Science"

https://www.tfmetalsreport.com/comment/36622#comment-36622

Not Rocket Science.... but definitely a science to the madness.... if you can figure out their game.. or that you are playing a game against them in the first place.

I think paper gold/silver retest 1584/28 area over the next two days, while equities begin to fall.... and on Friday the trade gets veryyyyy interesting... in my opinion only.

If gold and silver can find a bottom at lower highs (1584/28), it could be setting up for another stock market tank job (on Greece problems, what else), and gold (& silver) catching the safehaven bid alongside the US Treasury Bonds could be playing itself out again (Bernanke has more bonds he needs to flock people into).... it would certainly make sense in why Gold was knocked down before another "safehaven" run.

The reason I don't think the gold trade will go the other-way (down) is because it will strain the physical trade too much....and they have already made their "statement attacks" in the after-hours raiding Sunday night... If it was meant to be lasting, it would be during regular trading hours.

Here is the Head and Shoulders in Equities Market as we speak is practically formed....



Also, I believe there is too much fear in gold/silver trade... perfect scenario for it to go back up again. Especially when people see paper gold and silver under 1600 and 30 again for a short while (next two days?), and all of the TV analysts can suggest to short gold and silver.... as they are "clearly a bubble" (bear trap anyone?).


Economical Disaster
Sep 30, 2011 - 12:01pm

Turd:The next time you are

Turd:

The next time you are in trouble....from a home invasion, a simple assault or a car accident...who will you call?

They won't show up so..

Home invasion: Take care of it yourself. Assault: Take care of it yourself. Car accident: Your insurance or an ambulance.

Police: The largest organized gang in the world.

My wife's best friend is a cop. I wouldn't invite him for dinner never mind talk to him.

tankerfirstofficer
Sep 30, 2011 - 12:01pm

Free enterprise does not require government...

The other option is NO government -- the culprit behind all of this.

We engage in anarchistic paradigms on a daily basis. The food supply -- in general -- is free of a bureaucrat telling someone what food to deliver and to where. Open source software gets repaired without a government lackey filling out and assigning a fix-it ticket to someone in Germany. When we date, we don't need or want an agency to "assign" us a spouse or dating partner.

Yet we welcome, almost openly, other unnecessary intrusions into our daily lives by people who produce absolutely nothing, and have the power to prohibit or grant our ability to do business, eat certain food, and the like.

Government itself is the problem, again. On a daily basis, we engage in activity that is free from government. Why not work at expanding this sphere of influence?

CreditCrumbs
Sep 30, 2011 - 12:01pm

I Challenge You Anti Protesters

If you are critical of the Occupy Wall Street day, let me ask you what have you done to help restore the power of the people vs. the EE oligarchy? If you criticize some of these youngsters as ignorant, at least they have the guts to do something that you on your comfortable couch have not bothered to do.

Keep in mind these Gen-Y youngsters are our hope for the future. Boomers are entrenched in the status quo and are supporting it. Gen-X are too few to make a difference. Gen-Y is the only generation with a demographic bulge. Instead of criticizing them, go there immerse yourself with the young, educate and support them. Don't sit back and whine.

small_potatoes
Sep 30, 2011 - 12:02pm

amen

amen, turd. preach on.

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