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

1/10 Gold Eagle & Silver Eagle AT SPOT!

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

Silver eagle

https://ecom.uscoins.com/ProductInfo.aspx?productid=228874
1/10 gold eagle
https://ecom.uscoins.com/ProductInfo.aspx?productid=202170

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???

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