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

Founder
turd [at] tfmetalsreport [dot] com ()

  854 Comments

ReachWest
Oct 1, 2011 - 12:43am

Gold Stupidity

Looks like the original video from a reporter in Calgary, Alberta regarding Gold not being backed by anything has been removed due to copyright violations. This same network has lots of news content on YouTube - I would suggest that they were uncomfortable with the content and bad publicity.

This video had gone viral and last I checked was pushing 100,000 views in 4 days - It made it to the front of Alex Jones, Max Keiser and Zero Hedge (plus many others).

All that is left is this piece on infowars, where the video in question is played (and discussed) in full. (video starts at 1:04). It's still too funny (and stupid).

Video unavailable
CreditCrumbs
Oct 1, 2011 - 12:46am

A taboo topic, don't read!

I've got to admit that I miss the numerous music videos posted in this forum on Friday nights of the past.

Pale Green Horse
Oct 1, 2011 - 12:48am

Long Jon figure it out

If you want a Bible quote, then read! By the way I do believe. Still don't know what you want to debate me about?

Most everybody is oblivious to this in the markets, and I would expect so.

Ecclesiastes 1

1The words of the Preacher, the son of David, king in Jerusalem.

2Vanity of vanities, saith the Preacher, vanity of vanities; all is vanity.

3What profit hath a man of all his labour which he taketh under the sun?

4One generation passeth away, and another generation cometh: but the earth abideth for ever.

5The sun also ariseth, and the sun goeth down, and hasteth to his place where he arose.

6The wind goeth toward the south, and turneth about unto the north; it whirleth about continually, and the wind returneth again according to his circuits.

7All the rivers run into the sea; yet the sea is not full; unto the place from whence the rivers come, thither they return again.

8All things are full of labour; man cannot utter it: the eye is not satisfied with seeing, nor the ear filled with hearing.

9The thing that hath been, it is that which shall be; and that which is done is that which shall be done: and there is no new thing under the sun.

10Is there any thing whereof it may be said, See, this is new? it hath been already of old time, which was before us.

11There is no remembrance of former things; neither shall there be any remembrance of things that are to come with those that shall come after.

12I the Preacher was king over Israel in Jerusalem.

13And I gave my heart to seek and search out by wisdom concerning all things that are done under heaven: this sore travail hath God given to the sons of man to be exercised therewith.

14I have seen all the works that are done under the sun; and, behold, all is vanity and vexation of spirit.

15That which is crooked cannot be made straight: and that which is wanting cannot be numbered.

16I communed with mine own heart, saying, Lo, I am come to great estate, and have gotten more wisdom than all they that have been before me in Jerusalem: yea, my heart had great experience of wisdom and knowledge.

17And I gave my heart to know wisdom, and to know madness and folly: I perceived that this also is vexation of spirit.

18For in much wisdom is much grief: and he that increaseth knowledge increaseth sorrow.

I like Turd Unless he becomes Fed preserver, Ron Paul hating blower of digital fiat money. We might get along. I might even take him feral hog hunting

Mudsharkbytes
Oct 1, 2011 - 12:53am

Epiphany - in that I had one…

It took me WAY longer to finally read all of today's posts than I ever imagined. That'll teach me to take a day off. What an interesting day of posts it's been too.

About my 'epiphany'.

I started out stacking gold but about a year ago exchanged it all over to silver over a period of time because it seemed at the time just about everywhere I went I was reading about how silver was getting ready to explode etc…etc…yadda…yadda.

I was so convinced that silver was destined to be priced with three digits by the end of the year that, without going into boring details, In January of this year I committed myself to an end-of-the-year expense that I figured by then I would only have to sell a very small percentage of my stack to cover. Hah, that was a big f'n mistake.

Had it not been for this commitment, all the crap silver has endured since May 1 would have been much easier for me to tolerate, instead of the nail biter it became.

This pissed me off too because, as a stacker, I was supposed to be relatively immune to the psychological damage caused by insane market fluctuations.

So I decided to fix the problem.

Instead of worrying about using any of my silver, I simply found another way to meet my financial obligation at the end of the year by selling some valuable non-metal items I have but no longer need. Problem solved!

So, now I've done a 180. An epiphany. I find myself in the odd situation where I'm now actually HOPING silver drops into the low 20s or upper teens! I have a target number of ounces of silver I've wanted to stack of and was despairing that I might not be able to make it because the prices have risen so much. Now, if silver really dumps big time, which is looking more and more likely, I just might be able to pull it off!

Sucks somewhat that gold isn't taking a whipping too - not really happy the G/S ratio is so high - kind of erasing the benefits I realized by trading my gold for silver in the first place - but eh? So what - it'll all even out eventually!

For DPH & other Nuclear Bomb fans - a clip from my favorite documentary "Atomic Cafe":

Video unavailable
HeNateMe
Oct 1, 2011 - 12:56am

Slim pickings

God damn it's slim pickings around here on Friday night. Someone challenging Turd to a philosophy debate? Seriously? I'm going to bed for some more interesting wet dreams.

Bay of Pigs
Oct 1, 2011 - 12:56am

I Fester

Well bro, here's what Zyphen said that lit me up.

"P.S.: Why don't you guys read more from gold bugs that have actual credentials, a face, and - oh, I dunno - a real name? They're not optimistic enough for ya? I mean, blogs like Turd's are good places for technical discussions (which this thing has long since drifted away from) or sharing of news but there's too much pumping from random people with $500 newsletters and self-affirming radio shows (that aren't really on the radio) to draw in large numbers of subscribers for their advertisers. I'm not sold on Turd myself. He might just be repeating technical levels he got somewhere else. I'm skeptical of anybody that uses a SNL skit as their front. At least he's not asking for money yet (far as I know). Then you end up with stuff like Andrew Maguire, who doesn't exist btw. I know, it's like finding out about the tooth fairy but really, try finding actual information about this person: (edit clip)

He's either the creation of Max Keiser "Soze" or Bill Murphy. But because he's hiding out and his life is in danger or whatever, he'll never come out in public to drop his bombshell. It's funny how conspiracy theorists are so paranoid and gullible at the same time. You just gotta feed them the right bag of oats."

BOP: So I let him have it. Some here were okay with it, and some freaked out. I emailed Turd myself and asked him how this kind of bullshit should handled since so many commented on it. Personally, I don't think Zyphen knows shit from shynola, but that's my personal view.

Carry on team. I'm back to my vodka/tonic. Night all..

Mudsharkbytes
Oct 1, 2011 - 12:57am

Atomic Cafe - the whole shebang

After posting that clip I found the entire movie is available on YouTube.

If you haven't seen this documentary before - it's WELL worth the hour & a half - chock full of great footage.

As Slim Galliard says:

If you're small as a beetle,

Or big as a whale

BOOM

Atomic Cocktail!

The Atomic Cafe
ReachWest
Oct 1, 2011 - 1:00am

Zombies

Am I allowed to post this here? Have never posted a video before.

Oh well - here goes - it's late, PMs are not trading and we've had a stressful week.

.. from circa 1968 (I was 10).

Video unavailable
stoneeh
Oct 1, 2011 - 1:08am

"TF i salute your original

"TF i salute your original intent...and would pay $500 a year to rid myself of these clowns.... what was a great site is in danger of being corrupted by those who neither have a clue nor any skin in the game...."

I laughed at "in danger of". Sorry dude, much too late. Much much too late.

Mudsharkbytes Puck Smith
Oct 1, 2011 - 1:10am

@Puck T. Smith re Deteriorata - here's Magical Misery Tour

I posted the same tune here a couple of weeks ago but the versions I found on youTube weren't a nice as the one you posted - good job!

I'm looking at my rare vinyl copy of Radio Dinner right now - complete with rotten banana labels & everything.

Here's another great one from the same record - Magical Misery Tour - Tony Hendra on Vocals.

Warning - thar be profanity in these here waters:

Magical Misery Tour
UncleFester
Oct 1, 2011 - 1:15am

BOP

Thanks for the clarification...after reading, I came up with 'Who gives a shit'.

But that's just me.

IFester

Mudsharkbytes
Oct 1, 2011 - 1:19am

Okay, one more Radio Dinner - Bob Dylan

Since a lot of people have been coming down on the Wall Street protesters, this clip is apropos.

FWIW, I'm proud of what they've been doing.

National Lampoon - Bob Dylan Parody
FogHorn LegHorn terri5125
Oct 1, 2011 - 1:26am

@terri5125 hedging your longs

Hi terri I just took off two gld puts yesterday gld mar17 119p bought sept 19 @.70 and jan2112 135p @ .67 bought sept 6th. -When I purchase longs on miners or once I've got a substantial long position I wait for an "up" day and hunt some cheap puts. Another strategy is ZSL triple bear silver etf again wait for an up day look for otm .50 -.80 about 60 days out. GLL is triple bear short gold, same strategy. You can buy puts on any miners too. You can buy puts on the broad market SPY, TSL, UUP is double USD bull etf, buy calls on it. I bought puts way otm on banks today cheap cheap. There is lots of ways to play. Hope this helps Foggy :)

Mudsharkbytes
Oct 1, 2011 - 1:29am

Music videos - really?

Well, it's late Friday night and it seems everybody went home, so since the house appears empty, here's a short completely pointless music video to amuse those few who are still awake.

Dancing Green Blob
BUDDHA PRINCESS
Oct 1, 2011 - 1:34am

EndlessMountain -Silver report Update

Again, very interesting analyses very worth while watching

The Silver Log (09.30.2011) Sentiment
BUDDHA PRINCESS
Oct 1, 2011 - 1:36am
Kumanari
Oct 1, 2011 - 1:42am

Occupy Together has gone

Occupy Together has gone viral occupying over 80 cities and at least 7 countries and growing despite media black out. I would never known about it had it not been brought up here. Me thinks if it wasn't Turd who brought the subject up any other might have been blynched as a troll. I dare say no troll has been as effective in hijacking the conversation from our primary purpose, PMs anyone?

Hopefully we can return to civil conversation/education on pms next week.

The number one thing we should learn from this day is the realization that no matter how popular or intelligent we are, or think we are, there are hordes who feel and or think opposite and or the same as ourselves, most of who can think for themselves but choose to remain silent.

12,438 reads vs 465 comments most of which come from about 2-3 doz peeps tells an enlightening story......do you know who your audience is?

History will be the judge

A hui hou malama pono kakou. .

Kumanari
Oct 1, 2011 - 1:52am

Oct 1, 2011 - 2:12am

What does this all have to do with PMs? EVERYTHING

Frankly, it surprises me that folks somehow think this discussion of the protests and politics is not of interest. "I need to know about PMs!" you say. I have news for you folks: All of this stuff you deem "unimportant" is actually *critical* right now. It will affect not only the PMs market, but potentially you, your family, and the future of the entire country. You should be paying attention to it!

Am I being dramatic? Yes. But I don't think I'm exaggerating here, when I say that these protests could very well be the beginning of what we might affectionately call "shit hitting the fan."

We have a movement of people (who probably aren't all young, by the way) marching not just on Wall Street but in cities around the country. We can hope, in the positive, that these protests will have some positive effects - in our wildest dreams, perhaps they will signal the beginning of the end of the "Evil Empire."

But probably not. More likely, they will begin civil unrest, violence, and possibly riots, which could in turn lead to more volatility in the markets, more uncertainty, more civil rights being taken away. This could be the start of things deteriorating rapidly, folks.

So should we be discussing what the end goals are of the protestors and/or the people behind them and/or those potentially manipulating them? Should we be trying to have some serious, rational discussion about what kind of future we want, and how we might reach out to some of these folks? Or do we want to sit back and watch as things unravel helplessly?

I'm sorry if some of this talk upsets some folks who just want to focus on their own personal wealth issues, but I can assure you, all of this will affect you. If not these specific protests, the next ones. Because this civil unrest is only going to get bigger and more prevalent, not less, in the coming days.

FogHorn LegHorn The Doc
Oct 1, 2011 - 2:15am

sprott fund is not targeted by Morgue@kid(silverdoc)nomite

Morgue doesn't target PSLV because the 20% percent premium it trades at, keeps Sprott from doing a follow on purchase even though its filed and he could exercise it. He did the follow on in PHYS and it wiped out the hefty premium for along time, it still hasn't got back to where it was prior. The last thing the Morgue wants, is Sprott entering the physical silver market with several hundred million dollars in hand buying every available ounce of silver to be had in a market thats tighter than a mouses ear. DUH. The morgue paints the tape on silver anytime they want. I don't think its coincidence that the Morgue "chose to crash silver" after Sprott sold, so they could hire some guy to come to a blog and ask stupid questions trying to discredit one of the good guys.

Mudsharkbytes
Oct 1, 2011 - 2:35am

@Mudsharkbytes

I laughed so hard I hurt myself.

FogHorn LegHorn always_learn
Oct 1, 2011 - 2:39am

@always-learn

There no shame in asking Your Self if You have a problem ie. gambling or impulsive adrenaline seeking behavior, know Your Self, if You feel out of control there is no shame in seeking professional help. Gambling on sports or horses or stock direction, could all feed the same need. Please seek help, If You think its getting out of hand. Admitting there might be a problem, asking Your Self that question, takes courage, seeking help is the next step, Good fortune to You Sir! :) I'm not a Doctor or an adviser, I respond as a fellow who faces that same question at times. Best wishes!

Economical Disaster
Oct 1, 2011 - 3:04am

Can the DEBT scam Continue for YEARS in the USA?

LOOK AT JAPAN:

The healthcare system is universal. Pensions for those who retired some years ago are adequate.... But there is one issue.

Debt. Gigantic amounts. Gross national debt has reached 230% of GDP, by far the highest in the developed world. By comparison, tottering Greece just breeched 150% and the U.S. 100%. Japan's catastrophic level of indebtedness has been made possible by factors that are unique to Japan, but some of them have begun to reverse, and the endgame has started.

When the bubble burst in 1989, government debt was minimal. As the stock market and real estate were crashing, the government passed an endless stream of stimulus packages ("supplemental budgets"). In rural areas, bridges to nowhere are visible everywhere, and so we know where some of the money went. These stimulus packages accomplished two things: minor upticks in GDP and large jumps in government debt.

https://www.testosteronepit.com/home/2011/9/21/how-long-can-japan-play-t...

GOLD will go up for YEARS

donnojackshit
Oct 1, 2011 - 3:04am

Paper Ag might stay in the twenties to thirties

Many posts here have indicated that this low paper price of Ag represents the beginning of the disconnect with physical price. I think that this is indeed the case. The Morgue IS the market, and by keeping the paper price low they can prevent new entrants into physical ownership because as we saw in 2008, retail lead times of supply went out to 6 months. As we head into stagflation, those with physical may be forced to liquidate their stash to stay afloat-and liquidate at maybe less than they paid. Those without physical won't be able to get any. I remember 4 yrs ago reading a blog by Shelby Moore where he suggested that TPTB would not be able to make ownership of Au illegal- they would simply levy a 50% plus capital gains tax. However with Ag, being their Achilles heel, and used extensively in manufacture, they would more than likely outlaw ownership. If the paper price is LOW, then when they initially offer to buy back the citizen's physical, it will be in the low twenties to thirties. Also then fairly cheap for them to seize funds like Sprott by paying them this dodgy price when they forcefully nationalise these ETFs and large bullion holders. Mmmm they could nationalise the silver miners too, as they are according to Rick Rule very good value right now. Makes it tough to establish a fair price when attempting to barter too whilst in this stage of true price discovery suppression. So if all this crap is true, then we are truly in the end game. So maybe

Q...
Oct 1, 2011 - 3:04am

Thumbs Down

https://www.tfmetalsreport.com/comment/37917#comment-37917

-

I understand the emotional need for a Thumbs Down button.

However, Turd, I'd like to ask you to consider that one carefully.

Personally, I recommend against it, for most likely the benefits won't match the disadvantages.

-

Let us remember:

Concentration on the essential is what's needed;

Starvation is what's on the menu for trolls.

-

Divide et impera is how people are kept under control.

-

Thanks for your patience.

maravich44 Bay of Pigs
Oct 1, 2011 - 3:20am
maravich44
Oct 1, 2011 - 3:38am

@ Mr Hyde.

..you still awake? Thank you for all your efforts, your patience is incredible. Check out *The Fuse* Jackson Browne. Not sure if you are a fan but anyway.

Fred C Dobbs
Oct 1, 2011 - 3:48am
Stormdancer
Oct 1, 2011 - 4:03am

Eastman Kodak

I speculated some time ago that things are so fragile right now that a disorderly collapse of financial dominos across the globe could originate from almost any corner at almost any time. And that includes the failure of a large multi-national corporation as the trigger.

Eastman Kodak is something to keep an eye on now...and I bet there are more derivative laden multi-nationals lurking just behind the smoky veil of MOPE.

How long has it been since we heard much about municipal debt and California in particular? It's hard to keep it all in view, but those have not gone away and haven't gotten anything but worse...

Time is not our friend right now.

DigMyEarth
Oct 1, 2011 - 4:20am

What a load

The take here on the protesters is seriously disappointing. Because they don't have the proper political leanings you disrespect their work ethic, knowledge and motivations? I thought this was the place to get pissed at the financial elite and those power mongers who sleep with them?

Destroy the world, eh, and give me my silver and gold? You are no better, and perhaps worse, than those who seek to keep the masses down. Let silver and gold burn if they are nothing more than the emblems of our own greed and bitterness.

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