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

Sep 30, 2011 - 5:14pm

Zyphon thrown under the troll bridge

Great job to the savvy turdite veterans (Bay of Pigs, BenRoberts, Redwood in particular, to name a few) calling this lying sack out on his trollism. He gives away his entire game in the first line of that post when he says "I've followed this blog off and on for a long time (a year before it moved). Uh, Zyphon? It moved three months ago. And the original blogspot site was only created eight months before that... lying liar.

The obvious gaming of the hat tips bothers me, though- the entire purpose was to ensure that newbies could distinguish from people who earned respect through good posts from disinformation agents or simply morons who posted crap, and thus not get led down the wrong path.

No freaking way this obsequious waste of carbon earned 1/5th that many hat tips.

Edit- and yeah, DPH I know you're right about ignoring them. But after a hard week there is something satisfying about hearing the thump of wood to troll head.

ScottJ
Sep 30, 2011 - 5:16pm

Closing Thoughts

Have a good weekend all. We may have a retest of lows on Sunday night in gold/silver (the close was a bit weak, but not damming), but I still think gold will catch the safe-haven bid with equity market down. Could be wrong though, who really knows these days. We are all figuring this out together. Remember that.

Let us not be harsh on each other, as nobody can be 100% correct on everything.. it is impossible, stop holding each other to such a standard, it is tolling for everyone. The scope is wide and our personal information is only as good as our own awareness, different for each person.

Many times our own emotions and feelings mix within our understanding, leaving us arguing with biased logic and reasoning, directing our energy in a negative selfish way. We need to speak in a new way if we are to find new solutions to the complex problems we face. Be careful about how you phrase the words you speak because they are what other's are trying to derive your information from. Fill them with fear, and fear will be the reaction. Fill them with constructive thoughts, and innovation may result.

A lot of fragile people these days. And a lot of people without a voice.

If you are thinking, you are on the forefront...

May the cause of liberty prevail.

Scott

Shill
Sep 30, 2011 - 5:17pm

No I had it right bro Mental

No I had it right bro

Mental patient. :)

HeNateMe
Sep 30, 2011 - 5:19pm

Love it.

Before I head home to play Star Wars Legos with my son:

Pink Floyd - Wish You Were Here
Economical Disaster
Sep 30, 2011 - 5:19pm

TURD SHOULD...

check the IP addresses of the multi hat tip troll (MHTT) for proof and post it on his remarks.The trolls would vanish.

ewc58
Sep 30, 2011 - 5:19pm

Jesse mentions HSBC: someday I'll relay the story

of what the business driver was for English (and American) banks springing up all over Hong Kong in the mid-19th century, including HSBC (was HKSB previously: Hong Kong Shanghai Bank). Let's just say money laundering from narcotics trafficking isn't new. Or small time, or haphazard. Not by any stretch of the imagination. You might be surprised, but as it has to do with the great great grandpappy's of the banksters you've all come to know and love so well today, maybe not all that surprised. Same shit, 150 years ago is all. One of the reasons I love history so much is seeing what doesn't change with the passage of simple calendar pages.

But I think we've all had more than enough for 1 week :-)

Have a nice Friday evening everyone, maybe I'll catch you in Town later on.

Zyphen
Sep 30, 2011 - 5:21pm

@henateme

Worst thing you could do is sell at a possible low. If you're buying physical, you should be looking at a monthly chart. What is this, a barely formed blip? If you're trading it, put some stops under $29 and $1580 and hope for the best. Buy some puts for insurance on a pop and sell them if $1705 breaks.

I guess I'm still posting because of ego, mostly. I just can't believe how easily people can rationalize everything that doesn't fit in their "box" as part of some bigger conspiracy against them.

Read Marc Faber's blog. He's actually got real clients and gets to have the media call him a kook (not to his face) on national TV. It's a good gig.

Good luck to all. Have a good weekend. Maybe see ya next week.

Woody Mornings pourty
Sep 30, 2011 - 5:23pm

    RE: 1/10 Gold Eagle &

RE: 1/10 Gold Eagle & Silver Eagle AT SPOT!

Submitted by pourty on September 30, 2011 - 4:56pm. Hat Tip! 1

"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!"

Does anyone know of this company? Are they legit. No offense to the original poster, but I'm not familiar with him, and have seen no dicussion of this seemingly 'to-good-to-be-true' offer in this thread...


First.....the deal is not for tubes. Its for single coins. One per household. If I remember correctly I found them on this site a couple of weeks ago.

They are legit......I ordered one ASE as advertised. They delivered as promised and I've not received any telemarketing as of yet.

The 1/10 oz gold eagle sounds like a good deal to me however I'll wait till next week to see if we drop a bit more.

Piano Racer pourty
Sep 30, 2011 - 5:24pm

RE: 1/10 Gold Eagle & 1oz Silver Eagle

Re: legitimacy of the site:

Honestly, I have no idea. I had not heard of them before, but I browsed through their inventory and they seem to have a lot of numismatic stuff. I went through the order process and seemed like every other order I've made (Gainesville / Apmex /etc.)


I have not yet received my order, so perhaps it is all a scam - but it seems like a lot of trouble to go to - and if so I will report to VISA and have the transaction reversed.

I'll be happy to report when I receive my metal - my credit card was charged in the amount indicated by my order. I only wanted to share because there is no indication as to how long the deal lasts. As always - caveat emptor and do your own DD. I think you're right to be skeptical - I was as well. I will tell you that I have NO stake, and gain nothing, by anyone buying from them. If they are not legit - I was not aware, and did not benefit.

Zyphen Pining 4 the Fjords
Sep 30, 2011 - 5:26pm

@Pining

What you want, a comma? (a year, before it moved) Nah, whatever. Please HOLD your positions. I'm a troll. I'm just here to shake you out of your money. The EE is quaking in its boots. Add more! Take out a 2nd mortgage. Sell the kids. Just delete every post I ever made. What a complete waste of time, eh?

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