Fast Market = Fast Update

259
Thu, Oct 27, 2011 - 10:39am

No time for dillydallying today. Things are rolling so let's get right to it.

Let's start with our two base commodities as the PMs are definitely drawing some strength from them. As I type, Dec11 crude is up $2.41 at $92.61. DrC is charging higher again, too.

paper_10-27amcrude.jpgpaper_10-27amcop.jpg

These two have given a boost to silver which is finally trading back above $34.

paper_10-27amsilv.jpg

Gold is lagging just a bit but the chart suggests that it won't be lagging much longer.

paper_10-27amgold.jpg

That's all for now. I'll have a more detailed update after the close. TF

1:10 pm EDT UPDATE:

As this epic drop in the POSX continues, look for even more downside tomorrow. As noted in the post from later yesterday, once 76 gave way, The Pig looked to fall into the abyss. As you can see on the chart below, 74 looks likely as a short-term bottom.

paper_10-27ampig.jpg

Dropping to 74 tomorrow or next week would likely be the impetus for gold at 1780 and silver at 37. TF

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  259 Comments

backseatdriver · Oct 27, 2011 - 8:49pm

Re: Red Shields

Wonder if the Red Cross as any similar roots

ewc58 · Oct 27, 2011 - 8:52pm

Not gonna be that simple in eurodisney, not by a looooong shot

Tyler Durden's picture

Euro Bailout Cracks Emerge; Greece "Just Says No"

Submitted by Tyler Durden on 10/27/2011 - 17:55

"When reporting on the announcement of the math-free deus ex machina bail out that was announced last night, which nobody still has any grasp over, but it had a "trillion" in there somewhere so that alone sent the market scurrying, we suggested that it would take about 24-48 hours for reality to start settling in. It may have been considerably less. As the Telegraph reports, "A trillion euro bail-out to save the EU’s single currency is in danger of unraveling after Germany’s central bank warned that the rescue measure was too dependent on the high-risk deals that caused the economic crisis."

So what did the Bundesbank do to send tremors that threaten to fracture the brittle nanometer ice-plated facade under which the most tempestuous riptide in European history is contained? Well, first it appears to have used a calculator, something nobody else in the European Council seems to be capable of. Second, it realized that heaping leverage upon leverage to fix a problem, something even a five year old (non-Ivy league trained) would tell you is lunacy, may not be the best approach to fix the problems at hand..."

ewc58 · Oct 27, 2011 - 8:55pm
cpnscarlet · Oct 27, 2011 - 8:56pm

Did anyone post this yet?

Just to be on the safe side - must read on GLD - not that any of us have it...

https://www.bullionbullscanada.com/index.php?option=com_content&view=article&id=22649:d-day-near-for-gld&catid=48:gold-commentary&Itemid=131

Another good explanation of why GLD ain't GoLD.

@Shill - That's "Emperor S**t" to you.

UncleFester · Oct 27, 2011 - 8:57pm

@UncleFester

They are indeed the same, type. However, you are not obligated by law to take free or cheap money that you can't pay back. Although you won't find too many human beings turning down cheap money. Slavery is so appealing.

UncleFester · Oct 27, 2011 - 8:58pm

CPN, Shill, et al

Local coin guy, so no packages. My wife no longer harangues me, even the eyerolls have stopped. My friends, she is now a convert! For example...she was in a local Mex restaurant the other day with the young'ins. She hardly ever pays in cash, but this time she did. The 6 yr old was shocked, only dad has cash! They started talking about money and she calmly explained that cash was not real money. The guy next to her gave her "the look".

My home is not the same. It is sad, actually. Before, it was a cheery type place that housed only one cranky ole bastard who enjoyed "telling it like it is" to any green horn who wold listen. Now, she just agrees with me and asks "Did you pick-up silver or gold this time?"

IFester

ewc58 · Oct 27, 2011 - 9:00pm
backseatdriver · Oct 27, 2011 - 9:01pm

Xty

I listened earlier. I thoroughly enjoyed part 4 about prognostications. ;) I have not listened to part 5 yet.

BSD

UncleFester · Oct 27, 2011 - 9:04pm

Green Lantern

Indeed, you are not obligated by law to take a hand out of legal tender. But my point is...remove the legal tender and would anyone truly want it? Try this...

They do not force people to accept spoiled turnips.

They do not force people to accept flaming bags of shit.

They do not force people to accept orange crayons.

etc

IFester

Maryann · Oct 27, 2011 - 9:10pm

Arghhhh......

Ok, Cpn, Shill, and all the rest of you (except maybe Uncle)....all I can say is your presentation skills just must be off because there are plenty of us females (I'm not blonde but I'm sure there are plenty who are) who do get it and if we don't, well, we just need education.....cheeky

Ok, ladies, I did what I could.....got to get the doorbell...smiley

backseatdriver · Oct 27, 2011 - 9:14pm

Maryann

Every time you post it brings a smile to my face. You are always a breath of fresh air wherever I see you around "town". smiley

BSD

recaptureamerica · Oct 27, 2011 - 9:15pm

You don't have to accept frn

You don't have to accept frn for payment and you don't have to accept all forms of it. A store can decline accepting 50 or hundred dollar bills. FRNs are the ultimate scam as u know.. backed by govt says so..but that another story for another day.

crossbow onealpha · Oct 27, 2011 - 9:17pm

went to the site and they are

went to the site and they are apparently sold out - 100,000 sets @ $299 ea. for 5 oz of "special" silver

cpnscarlet · Oct 27, 2011 - 9:20pm

@Maryann - Seriously, I only

@Maryann - Seriously, I only have one wife and no concubines.

But when the true patriarchy is restored and Illuminati-inspired feminism is abolished .....

(trumpets sound and throngs of marching men enter stage right - guys, you fill in the rest)

Maryann backseatdriver · Oct 27, 2011 - 9:25pm

Thanks BSD

What a nice thing to say...thank you! I wish I had more "heavyweight" things to post but my expertise is more along the "hearth and home" type. However, I do what I can to keep up reading the awesome thinking here, of which you are certainly in that category, BSD!

Edit: Cpn, again, arghhh....smiley

Turdle GG · Oct 27, 2011 - 9:27pm

ewc58. I know how Jim Comiskey must be feeling right now...

b/c I used to work for Lehman Brothers

Watching your employer die is a nasty experience.

Perhaps Turd can employ him?!

· Oct 27, 2011 - 9:30pm

I love it.  Gender wars on

I love it. Gender wars on the night shift.

Speaking of men, women, red crosses, and legal tender laws, I thought I'd keep the non-relevancy alive. https://youtu.be/8_mD6_oFpc0
silver foil hat · Oct 27, 2011 - 9:33pm

Ni / H cold fusion...

this has been tested.... I heard of this months ago and supposedly it is so simple a device to build, anyone with some knowledge of welding can put one of these machines together. In fact, there are some garage mechanics that claim they have a working device in their barn on a farm.

Anyway... here's more information. https://www.peswiki.com/index.php/Directory:Andrea_A._Rossi_Cold_Fusion_...

It does produce some radiation, but the radiation isn't enough to penetrate a small amount of lead, or I think around two feet of concrete. The device that would power a home would take up roughly 2-3 cubic feet.... and produce 7 kw by early estimation.

Here's a 12 minute video while PMs tick up (note to mods... mentioning "PM" now makes this a PM post... lol)

Nickel Hydrogen Reactor Test - October 6, 2011

If someone starts a thread on the forums, then we can track this there. No doubt TPTB would NOT want this to get widely used... oil would be relegated to producing jet fuel. That's about it. OK, maybe grease for wheel bearings too. But not much more.

I wonder if Ghadaffi was going to fund this? (OK, now this should go on the conspiracy forum). But in all seriousness, perhaps oil's time is ending... and so the petro-oil dollar. But before it does, under "legal tender" laws, Benny can print for the FED to buy up all debts, own all real estate, etc. so the sheeple will still have to pay (work) for TPTB. By owning the very earth.... well then, who needs oil revenues?

redwood · Oct 27, 2011 - 9:34pm

Salinas - Gaddafi killed over gold currency

https://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/10/27_...

"Thinking about it a little bit more, what happened to Mr. Gaddafi, many speculate the real reason he was ousted was that he was planning an all-African currency for conducting trade. The same thing happened to him that happened to Saddam because the US doesn’t want any solid competing currency out there vs the dollar. You know Gaddafi was talking about a gold dinar."

¤ · Oct 27, 2011 - 9:39pm

BSD

Just catching up after that massive format job I just wallpapered the board with. Sorry folks.

Pretty funny comment on the new island and who might be on it laugh

Always try and occupy the high ground or at least be aware where it is around you is a good rule of thumb.

Hey...just noticing the spell check is gone. Everyone's missing?

I Run Bartertown · Oct 27, 2011 - 9:45pm

You guys rock

Thanks for the heads up on tomorrow's E Cat test. enlightened

That's something interesting to follow. Great example of the wonderful off-topic-ness I love here (and...in the distance...some fool cries 'that's not about the gold market...blah, blah'..stfu)

Eric Original · Oct 27, 2011 - 9:50pm

DPH

Great stuff there, but I'm going to come to the aid of my Canadian friends and point out one glaring error.

The Klondike Gold Rush was in Canada. The Yukon Territory to be exact.

It's a popular error to make for two reasons:

1) The most used route to get there started in Alaskan ports, then went inland and over the border into the Yukon.

2) A lot of Americans don't know dick about history or geography, and pretty much ignore Canada to begin with.

ewc58 · Oct 27, 2011 - 9:50pm

FGMR review of Jim Rickards' new book

 
 

“Currency Wars”
https://www.fgmr.com/currency-wars.html

October 27, 2011 – It was my good fortune to receive an advance copy of Jim Rickards' new book, “Currency Wars”. It is a great book, and I highly recommend it.

The book is split into three parts, with the first part being almost surreal because it reads more like a novel than non-fiction. It details Rickards’ participation in an exercise at the Warfare Analysis Laboratory near Washington D.C. This group is one of the Defense Department’s leading venues for war games and strategic planning, but in a first-ever event, the game in which Rickards joined was not a war-fighting simulation. Rather, several dozen people from the military, academic and intelligence communities fought a global financial war using currencies and capital markets to support national interests. Rickards and two colleagues were invited to give the simulation some real-world, Wall Street expertise about markets, which they certainly did. 

I guarantee that when you start reading this part, you won’t put the book down until you learn the outcome of the war. It reads better than a suspense novel, even though the ending is somewhat anti-climactic and predictable. While I won’t spoil it for you by divulging the ending, I will note that gold has a big role to play. In fact, gold reappears throughout the whole book. 

In the second section, Rickards analyzes the first two currency wars (CWI and CWII). He provides an interesting historical account of the global monetary twists and turns, ups and downs that marked much of the twentieth century, with keen insight into the motivations why these currency wars were fought. CWI lasted from 1921 to 1936. Even though CWII came much later – from 1967 to 1987 – both wars were fought by competing national interests, which brought into the battle competitive devaluations and other interventionist actions of government. It is noteworthy that currency wars are a product of the post-Classical Gold Standard period that began in the aftermath of World War I, when the monetary role of government began to morph, as gold was driven out of day-to-day circulation, and then expand in new ways never before seen.

The final section of the book explains why the world is now fighting Currency War III, which Rickards believes began in 2010. He speculates that there are three possible outcomes from CWIII – paper, gold or chaos. Each of these alternatives is analyzed in detail, providing readers with much food for thought..."

Read more

backseatdriver · Oct 27, 2011 - 9:54pm

Turdle

Someone posted an awesome video of the entire minting process of that coin last night on the main thread. It was fascinating to see how many man hours went into the creation of such a behemoth coin. It is quite awesome though.

I wonder what the S/H is on that?

BSD

Economical Disaster · Oct 27, 2011 - 9:57pm

Talking To Americans: Rick Mercer On CANADA

2) A lot of Americans don't know dick about history or geography, and pretty much ignore Canada to begin with.

CANADA's Prime Minister is Prime Minister Poutine and we have 1 million people...we also have just legalized VCR's and Staplers! Capital of CANADA is TORONTO!

Rick Mercer - Talking To Americans
wanab silvergoldsilver · Oct 27, 2011 - 9:57pm

do we need any other reason

do we need any other reason not to buy gold?

:)

Turdle GG backseatdriver · Oct 27, 2011 - 10:03pm

BSD

just watched the video. wow, what a job!

ewc58 · Oct 27, 2011 - 10:06pm

Turdle

I used to sell to the Lehman IT/telecom team located in Jersey City, right across from downtown Manhattan. I used to visit them via the PATH train from Liberty Street. On nice days we'd go on the ferry at least one way...

It was a shame to see what happened to the people and the company. I've not heard good things from my remaining contacts about the culture or the way things are run under Barclays.... Big shock there, they are scum of the earth... a City of London criminal outfit and an integral cog in Global Asset Strippers, Inc.

Bay of Pigs · Oct 27, 2011 - 10:08pm

DPH

I've been to Sutter's Mill in Coloma, CA. It was fascinating walking around and looking at a place that literally changed the course of American history (CA was part of Mexico then). A truly remarkable chain of events unfolded after gold was discovered there in 1848. You'd never know it by looking at it today. Just a tiny little town with a few shops and a museum there. 

https://www.coloma.com/gold/

https://en.wikipedia.org/wiki/California_Gold_Rush

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