Friday Musings

378
Fri, Oct 21, 2011 - 9:38am

It's Friday and The Turd is ready for a few days of downtime. First, however, we've got to get through this day.

And it promises to be a wild one. First of all, check this out from ZH. It wasn't too long ago that the USDJPY was supposed to hold 82. Then it was 80. Surely it wouldn't break 78, they said. Now it's broken 76. The Turd is way too undercapitalized mentally to tell you wtf this all means but here's the link anyway:

https://www.zerohedge.com/news/dollar-yen-plummets-new-post-world-war-2-low

Also from ZH, a terrific piece regarding gold and the money supply (with lots of pretty charts!). This one is a must read:

https://www.zerohedge.com/news/us-money-supply-surges-surges-33-4-months-gold-follow

Linked in that article is a piece from the Motley Fool. I don't usually read the Motley Fool because I think the place is populated with DeltaBravos. In this case, one of them seems to finally have come to his senses:

https://www.fool.com/investing/general/2011/10/20/why-i-was-completely-wrong-about-gold.aspx

Lastly, Eric King's "Deep Throat" has once again checked in from London. I saw this mentioned a few times in the comments of the previous thread so I thought I'd link to it here:

https://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/10/21_London_Trader_-_Sovereign_Silver_Buying,_Middle-East_Shortages.html

I'm continuing to receive emails from around the world with anecdotal evidence of physical shortages, particularly in silver. Keep stacking...if you can find it.

Lastly, here are two updated 4-hour charts. Note that we are rangebound, until further notice. Not that that's a bad thing, mind you. Once the metals break out...in either direction...the move will be clear to see for all paying attention.

Again, if you want to keep discussing the previous thread, please utilize the comments section of that thread. This current post is a precious metals post. Please comment accordingly. TF

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  378 Comments

silvergoldsilver
Oct 21, 2011 - 9:41am

US money Supply

up 33% in 4 months. Could this be the catalyst?

silvergoldsilver
Oct 21, 2011 - 9:47am

Should be

Keep up the great work, SGS.

Maybe The Wicked Witch and The Bears should collaborate sometime...

single6
Oct 21, 2011 - 9:48am

Second

Second

GoldMania3000
Oct 21, 2011 - 9:51am

Bill Gross Was Right: Fed Board Member Tarullo Calls For Restart

Bill Gross Was Right: Fed Board Member Tarullo Calls For Restart Of MBS Monetization

zerohedge.com
OCTOBER 20, 2011

Submitted by Tyler Durden on 10/20/2011 18:15 -0400

When we first reported on Bill Gross' massive surge in duration and accelerated purchase of Mortgage Backed Securities a week ago, we said, "That's either what is called betting one's farm on Operation Twist, or, betting one's farm that the next thing to be purchased by the Fed in QE3 or QE4 depending on how one keeps count, will be Mortgage Backed Securities." It was the letter. Confirmation that Bill once again frontran the Fed comes courtesy of Daniel Tarullo who in a speech at Columbia University, talking about the labor market of all things, just said the following: "I believe we should move back up toward the top of the list of options the large-scale purchase of additional mortgage-backed securities (MBS), something the FOMC first did in November 2008 and then in greater amounts beginning in March 2009 in order to provide more support to mortgage lending and housing markets." And there you go: watch as the market rips on the expectation that the US will bail out China all over again. Oh wait, at this point China couldn't care less what happens to the GSEs stack. So unfortunately as can be expected, this is nothing but yet another bailout of US banks, which lately have been buying up MBS like crazy (Gross is not the only one with the hotline), and expecting to flip right back to Brian Sack: after all something has to be done to save the poor things from a total pancaking of the Treasury curve.

.... READ MORE ...

silvergoldsilver
Oct 21, 2011 - 9:52am

Bears and the witch

I am interested. I will contact you. I am planning another Bears Episode 8 release so lets see what we can do together!

single6
Oct 21, 2011 - 9:53am

I used to like investing in the stock market

Just a middle class guy here. Now I do not understand the markets......like Rickards states they are more about theater than anything else.

Strongsidejedi
Oct 21, 2011 - 9:53am

USD JPY

Are big funds moving into the Japanese Yen in order to position or rotate to the Yuan on Asian trading hours? I'm guessing that the PBOC are selling USTs in London trading hours, then using the Pound or Euros to rotate to Yen and gold. But, if the Chinese have a gentlemen's agreement with the Euro zone to sell their USTs in the Eurozone, you would see a sell off in USDs and a rise in Yen. If you're in forex and long Yen, conrgrats.

Drut
Oct 21, 2011 - 10:00am

a dead cat final bouncing???

Well...don't get too excited...but if yu wanna have that sorta feeling...why not? enjoy it yo!!

Alex Costa
Oct 21, 2011 - 10:03am

Bottom or Dead Cat?

We took a dip yesterday in the precious metals. I'm definitely not an expert on these things, but I fear we're in the middle of a small dead cat bounce (no thanks to the manipulators) and that we'll see silver in the 20's again. We could have hit a bottom, but I'd go dead cat.

Either way, it doesn't matter. Please, drive the price down to 10 dollars and ounce. I'd sell my car at that point for the opportunity to get more silver! I already sold my van.

NoSuckerNoBloodsucker
Oct 21, 2011 - 10:05am

EXP with MONEX company, newbie Q's

Hello all, I'm a newbie to this game, and I recently opened an account with MONEX company. However, I am concerned that the one mention about this company I have read (since opening an account) on this site was negative. The biggest negative I have encountered in dealing with this company has been the "spread" of $27 for gold, so for every decision I make, the market has to move $27 (in the right direction) for me to make a profit. Is this standard? Is it set by the company? I have generally received good customer service with my representative, though he is essentially a facilitator of trades, I come here for advice/analysis. Is this company the same "don't deal in paper" trap/vulnerability I've read about here? Is the "don't deal in paper" advice equivalent to saying "don't leverage?" With the clear manipulation in the market, I am more and more motivated to begin accumulating metal that I can touch. Hell, I'm even thinking it may get so bad that I might have to depend on a garden for most of my calories sometimes. Regardless of the survivalist measures that may need to be taken, can anyone tell me if they have experience with this company, or comparable companies?

I am very grateful for this community; its honest answers and honest inquiry.

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