The Fed Disappoints

222
Tue, Dec 13, 2011 - 3:48pm

HAHAHAHAHA! That's a good one! As if having the Fed overtly printing money would solve all the worlds ills.

Once again the media incorrectly spins today's FOMC minutes as a postponement or even a (gasp!) cancelation of further quantitative easing. Buy the dollar! Your evil Sith masters are such responsible stewards of the economy that they are prepared stop the presses and enforce credit discipline upon a spoiled, bloated populace.

What a joke. Up goes the dollar and down goes nearly everything else. Please, I hope you are able to see through the fog of this nonsense. Again I ask you, from where is this year's $1.5T U.S. budget deficit getting its funding? From where did the U.S. government get their funding last year? From where will they get it next year?

Oh, whatever. I'm not going to go through all this stuff again. QE to infinity is the only possible option, whether or not Maria Headiromo and Bob Pissonme agree makes no difference, whatsoever.

Anyway, back to important matters. I trust that the continued weakness in the metals is not catching anyone by surprise. Nothing has changed from yesterday or last week and the selling continues. Gold looks almost certain to head toward its 200 day moving average near 1615 and silver looks to be headed to 30. The big question is:

WILL THEY STOP THERE?

Maybe. However, I've got a sneaky feeling that they won't. I suspect that we will see a capitulation in paper selling when gold doesn't stop at 1610 and silver doesn't stop at 30. I've maintained for some time now that paper gold was vulnerable to a drop to 1550 and that paper silver could drop toward 25. Why change that forecast now?

I just saw the OI numbers for yesterday and they are very interesting to say the least. The Feb11 contract only saw its OI drop 1500 contracts. For a drop in price, this is an extremely surprising number. First of all, this nearly confirms for me that much of the front-month trading is done by WOPR. There seem to be very few, human holders of these contracts. Also, it's clear that much of the decline yesterday was due to the initiation of new short positions by The Cartel. Again, with lease rates at -0.5%, this shouldn't surprise anyone. The BIG story is the rise in Dec11 open interest by a net of nearly 500 contracts, from 1545 to 2034! The question is: Who is jumping the queue and why? Is global demand for physical metal this month finally going to be sufficient to explode the Death Star? Is this why The Cartel has desperately suppressed price over 0 in the past 3 months? I sure can't wait to see what tomorrow's numbers are.

As I wrap up, gold is 1633 and silver is 30.65. I sincerely hope that the discussions here over the past week have helped prepare you, financially and mentally, for this brutal selloff. Keep the faith. The only thing truly declining in value is paper gold and silver. I say this with confidence because thephysical gold and silver you have in your possession is invaluable and thus insulated from the day-to-day shenanigans of the paper market.

I'd like to type more but the LTs are planning a birthday party tonight for Taylor Swift and I have to go bake a cake. I hope to have more commentary this evening. TF

About the Author

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

  222 Comments

Astro_Phyz
Dec 13, 2011 - 3:54pm

First

Oh Yeah! My First First!

Bay of Pigs
Dec 13, 2011 - 3:56pm

Gartman

said today that the 11 year Golden Bull market is dead. He said it is over.

LOL. Probably time to buy with both hands, as that man knows absolutely nothing about gold.

FWIW, he called me a retard when I called him on his "Euro gold will never see 500" a few years back.

The gold and silver Delta Bravos are coming out of the woodwork today.

Last Rebel
Dec 13, 2011 - 3:57pm

Could it be me?

Could it be me?

Stupid ATT slow connection foils me .

Outfitter
Dec 13, 2011 - 4:00pm

Christmas Sale!

I just love a good Christmas sale.

Bring it on scoundrels, crooks and thieves

Woody Mornings
Dec 13, 2011 - 4:01pm
CauseChange
Dec 13, 2011 - 4:02pm

Remember the $134 Billion Bonds confiscation on Swiss Boarder

Well the emergence of this story once again is fascinating as it connects many more dots many have been following since 2007...... It could also be one of the biggest confirmed filed lawsuit in history...

https://divinecosmos.com/start-here/davids-blog/995-lawsuit-end-tyranny
Economical Disaster
Dec 13, 2011 - 4:09pm

Euro may not survive this

Euro may not survive this Christmas

28.11.2011

The European debt crisis is gathering pace. The debt of the Eurozone countries totals 89 percent of the GDP vs. the required 60 percent. The crisis has hit both secondary and primary economies. The public debt of Greece makes up 166 percent of the GDP, Portugal - 106 percent. The largest economies of the region also exceed the limit: Germany - 83 percent of the GDP, France - 87 percent, Spain - 67 percent of the GDP.

Experts continue to bury the euro. Jacques Attali, the former president of the European Bank for Reconstruction and Development, said that the euro would only last before Catholic Christmas. There is no more than a 50/50 chance for the euro to survive until this Christmas, the economist said.

https://english.pravda.ru/business/finance/28-11-2011/119756-euro-0/

Velocity
Dec 13, 2011 - 4:12pm

Watching the Insane drives you...

...fuking nutz . . . . . doesn't it?

Yep watching these corrupt scumbag crooks each and every day sends One & All up the bloody wall. You can't make sense of human tossers obsessed with power, money and keeping their crumbling Empire, this Era of Debt/Credit afloat

The harder they bail, the more counterfeit wealth they siphon into their own pockets, the more pear-shaped the economy goes the bigger this shitshow of puss on society becomes

"HaHaHaHaHaHaHaHa"

Hang in there Turd. Keep a hold of your marbles mate, at least until this most corrupt of regimes collapses in their own worthless wanking

Best thing to keep your sanity: Stop Paying Your Taxes (to this human crap)

Do something truly rock solid sane and bring these dysfunctional suckers to an end... fast

Bullets Beans Bullion
Dec 13, 2011 - 4:12pm

Damn

My $1660 purchase from yesterday now looks somewhat over valued, still I got dry powder to buy at $1620 which I did. Buy low sell high.

punchbowl
Dec 13, 2011 - 4:17pm

Good Calls big T

Lately you have been upping your average.

Practically seems like your forecast is baked in the cake.

Key Economic Events Week of 10/14

10/15 8:30 ET Empire State Fed MI
10/16 8:30 ET Retail Sales
10/16 10:00 ET Business Inventories
10/17 8:30 ET Housing Starts and Bldg Perms
10/17 8:30 ET Philly Fed MI
10/17 9:15 ET Cap Ute and Ind Prod
10/18 10:00 ET LEIII
10/18 Speeches from Goons Kaplan, George and Chlamydia

Subscribe or login to read all comments.

Contribute

Donate Shop

Get Your Subscriber Benefits

Private iTunes feed for all TF Metals Report podcasts, and access to Vault member forum discussions!

Key Economic Events Week of 10/14

10/15 8:30 ET Empire State Fed MI
10/16 8:30 ET Retail Sales
10/16 10:00 ET Business Inventories
10/17 8:30 ET Housing Starts and Bldg Perms
10/17 8:30 ET Philly Fed MI
10/17 9:15 ET Cap Ute and Ind Prod
10/18 10:00 ET LEIII
10/18 Speeches from Goons Kaplan, George and Chlamydia

Key Economic Events Week of 10/7

10/8 8:30 ET Producer Price Index
10/9 10:00 ET Job Openings
10/9 10:00 ET Wholesale Inventories
10/9 2:00 ET September FOMC minutes
10/10 8:30 ET Consumer Price Index
10/11 10:00 ET Consumer Sentiment

Key Economic Events Week of 9/30

9/30 9:45 ET Chicago PMI
10/1 9:45 ET Markit Manu PMI
10/1 10:00 ET ISM Manu PMI
10/1 10:00 ET Construction Spending
10/2 China Golden Week Begins
10/2 8:15 ET ADP jobs report
10/3 9:45 ET Markit Service PMI
10/3 10:00 ET ISM Service PMI
10/3 10:00 ET Factory Orders
10/4 8:30 ET BLSBS
10/4 8:30 ET US Trade Deficit

Key Economic Events Week of 9/23

9/23 9:45 ET Markit flash PMIs
9/24 10:00 ET Consumer Confidence
9/26 8:30 ET Q2 GDP third guess
9/27 8:30 ET Durable Goods
9/27 8:30 ET Pers Inc and Cons Spend
9/27 8:30 ET Core Inflation

Key Economic Events Week of 9/16

9/17 9:15 ET Cap Ute & Ind Prod
9/18 8:30 ET Housing Starts & Bldg Perm.
9/18 2:00 ET Fedlines
9/18 2:30 ET CGP presser
9/19 8:30 ET Philly Fed
9/19 10:00 ET Existing Home Sales

Key Economic Events Week of 9/9

9/10 10:00 ET Job openings
9/11 8:30 ET PPI
9/11 10:00 ET Wholesale Inv.
9/12 8:30 ET CPI
9/13 8:30 ET Retail Sales
9/13 10:00 ET Consumer Sentiment
9/13 10:00 ET Business Inv.

Key Economic Events Week of 9/3

9/3 9:45 ET Markit Manu PMI
9/3 10:00 ET ISM Manu PMI
9/3 10:00 ET Construction Spending
9/4 8:30 ET Foreign Trade Deficit
9/5 9:45 ET Markit Svc PMI
9/5 10:00 ET ISM Svc PMI
9/5 10:00 ET Factory Orders
9/6 8:30 ET BLSBS

Key Economic Events Week of 8/26

8/26 8:30 ET Durable Goods
8/27 9:00 ET Case-Shiller Home Price Idx
8/27 10:00 ET Consumer Confidence
8/29 8:30 ET Q2 GDP 2nd guess
8/29 8:30 ET Advance Trade in Goods
8/30 8:30 ET Pers. Inc. and Cons. Spend.
8/30 8:30 ET Core Inflation
8/30 9:45 ET Chicago PMI

Key Economic Events Week of 8/19

8/21 10:00 ET Existing home sales
8/21 2:00 ET July FOMC minutes
8/22 9:45 ET Markit Manu and Svc PMIs
8/22 Jackson Holedown begins
8/23 10:00 ET Chief Goon Powell speaks

Key Economic Events Week of 8/12

8/13 8:30 ET Consumer Price Index
8/14 8:30 ET Retail Sales
8/14 8:30 ET Productivity & Labor Costs
8/14 8:30 ET Philly Fed
8/14 9:15 ET Ind Prod and Cap Ute
8/14 10:00 ET Business Inventories
8/15 8:30 ET Housing Starts & Bldg Permits

Recent Comments

by Robertoe, 11 min 42 sec ago
by Dirty Swan, 12 min 31 sec ago
by lakedweller2, 19 min 51 sec ago
by Blankone, 1 hour 6 min ago

Forum Discussion

by Solsson, 3 hours 42 min ago
by Pete, 7 hours 35 min ago
by SteveW, 8 hours 17 min ago
by Phoenix79, Oct 17, 2019 - 6:28pm
by NW VIEW, Oct 17, 2019 - 4:40pm
randomness