Constitutional Deception

473
Thu, Jun 28, 2012 - 11:50am

Article 1. Section 7. Congress shall make any law it pleases, regardless of whether the citizens were lied to, deceived or otherwise misled into supporting its passage.

George and Obama debate health care taxes

The metals are, of course, up against it this morning. If you haven't yet read this (https://www.tfmetalsreport.com/blog/3940/lookout) or this ( https://www.tfmetalsreport.com/blog/3963/lookout-part-ii), please do so immediately. It is looking increasingly likely that the triple bottom in silver will soon fail. IF stops below 26.25 are tripped (maybe on The Globex this afternoon), silver may rapidly descend toward 25 and then continue, over the next couple of weeks, down toward 22 in a final washout move. Please be prepared for this and do not panic if it happens.

Gold is still in its 1530-1630 range but it is, of course, subject to a breakdown, too. Be vigilant.

Hang in there and don't be surprised by anything.

TF

About the Author

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turd [at] tfmetalsreport [dot] com ()

  473 Comments

Darth Smoker
Jun 28, 2012 - 12:04pm
¤
Jun 28, 2012 - 12:05pm

PM reality today and over the past year

Thanks for the update TF.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

"Face reality. Turd, Sinclair, Turk and all the others have been wrong for a LONG time now."

I'll agree they have been way off for about a year on specific calls but to say they have been wrong for a LONG time implies they weren't right for the past 8-9 years also? That's a blanket statement and incorrect. Do they get credit for any of those other years where they went against the grain of everyone else?

All those industry folks made many of those assertions under what used to be 'normal' market conditions. As you can see, we no longer have a normal or fair market because it is steered by many other factors other then fundamentals that used to matter for the most part. The news is the driving fundamental right now. That's a messed up thing and NO ONE could've expected or predicted how the de-coupling from previous metrics that used to show trends has been obliterated to the extent that up is down and the exact opposite might be true later in the day or the next trading day. There is no rhyme or reason any longer.

I do not think gold is going under $1,000 anytime soon. Do you? If so, then get out of the market ASAP as that would be the logical move if you feel the bull market is over and gold/silver are to go much lower. I don't think so and I'm not claiming to be right. I don't see $1,000 gold anytime soon. I would however be interested in your take on how that might happen.

I'm not blasting you or challenging you on this. I feel for anyone who is at the point in their evolution of thinking on this if you're still stuck in the day to day action of the metals and not the long term window. Yes, lately the metals have sucked and the trends and short term reactions blow. Holding paper right now probably isn't a good feeling. Many of us know first hand how unpleasant that can be. Trust me on that. Live and learn and move on and don't hang on the day to day in a historic marketplace convulsion. It's not an easy thing to do. You must trust what your gut told you when things were going good and bullish and what it's saying now.

Look further down the road and try not to take a daily inventory how much your stack is down or more importantly to many, how your stack is not going up like you/we hoped compared to the somewhat parabolic rate it was in the past few years previous to this past year.

We have time on our side and the guaranteed impotence and irrational greedy decision making at the top of our leaderships that assures you that they will not or can not fix this historic apex of debt we find ourselves in. That's nothing to hope for but seems to be how this is proceeding.

Were at a point where some former bulls will drop out of the bull fight because of the historic circumstances and forces at play. I don't even know how I'll be in 1 -5 years from now if something extraordinary occurs in the global marketplace that just challenges your beliefs and inner fortitude. I suspect I'll just become more resolute.

Were at the point in the metals markets that will lead to each individuals meddle being severely tested. I'm hanging in there and I could care less about the day to day movements although I watch them and I don't expect much.

What I do expect is that one day during this messed up and stagnant market phase is that I'll log on here or turn the TV on and I'll see some massive reaction at some point seemingly out of the blue that has gold over $100 and silver over $5 in one giant spike that indicates something profound has changed.

That'll be the day we hit 1,0o0 posts on here in short order and cheer the whole thing on with mouths agape.

ancientmoney
Jun 28, 2012 - 12:05pm

Smack it to stack it

Just DCA'd in 210 oz. of Ag bars. Feels good to get a price under $30. Didn't think we'd see these prices again in April 2011. My silver pile hasn't shrunk one bit since the manipulators decided to take some shine off the PMS so as not to attract the populace. Price does not equal ounces. Ounces in possession is all that will matter. Luckily, my work is still busy and I can make enough fiat to pay the bills--the rest goes to dinners with the wife, occasional ballgame, and buying the dips. Thanks for the cover, SCOTUS.

MisesFan
Jun 28, 2012 - 12:06pm

It is now the ObamaTax....

no longer is it ObamaCare. The SC just did us a favor, and called the Act what it really is.....a tax. Do we remember what happened in the 2010 elections? That was a prelude to what we will see in the upcoming months.

Dr G
Jun 28, 2012 - 12:06pm

I'm miserable because I can't

I'm miserable because I can't afford to buy my way into another country.

babaganoush2307
Jun 28, 2012 - 12:06pm

Jesus

This country continues to disgust me more and more each day, we have literally gone from being the greatest country in the world to what will soon be one of the shittest all due to personal interest and greed. Anyone who has a vast sum of wealth in this country, I would recommend moving to Panama before the end of the year. They have the balboa and the USD there so if the USD collapses they will just ditch it. Due to the panamanian canal they have US standards for hospitals and education. No property taxes for 20 years on new properties. Extremely cheap labor since they are moving from 3rd to 1st world. Sounds pretty good to me, i'll come back to the USA when all the bullshit stops. Untill then, I think I am gonna head abroad. We will soon go from the USA to the USSA and that is not okay with me. Keep on hoping that jobs will recover, it ain't gonna happen now that this bill has been passed. Oh and included in the bill, an report to the IRS for any sale or buy of PM's over $600 so watch your asses...so sad....

Stock_Canines
Jun 28, 2012 - 12:07pm

Turd, the other day you said,

Turd, the other day you said, "What I do know is that it is headed multiples higher when the world finally reverts back to some type of gold-backed, international trade settlement system". This gave me pause. I think many would argue and rightly so that there is simply no way to predict that the world will ever revert back to a "gold-backed, international trade settlement system". Is this the assumption that drives your thesis that gold and silver will be "multiples higher"? Is this the same assumption that leads you to believe it is going to be a explosive summer for the metals? If this assumption is the foundation for your argument, I think there is a very strong chance your analysis is flawed. There are many competent economic minds out there that strongly believe this day of a proposed gold back settlement system will absolutely never happen. I have no idea if it will or it won't, but if the underpinnings of your message is that it definitely will happen and it will be the catalyst for rampant increases in the PM prices, I think you are being somewhat careless. Many here (rightly or wrongly) take your conviction in the PMs as a big source of their confidence to invest their money into gold and silver, but I have to imagine you can perceive a future where your basic assumption fails to materialize. Certainly, it doesn't appear that this new settlement system will happen anytime soon (if ever), so what gives you the confidence that the PMs will be explosive this summer. Certainly, this seems an odd belief given that you now see silver very possibly trading down into the low 20s, although it was not long ago that you ended a post with "silver is not going to 20, period!". I don't care about the accuracy of your short term predictions, it is obvious no one has a clue as to the short term movement of the metals, but I am more concerned with your longer term thesis. It seems you are treating a potential as an absolute.

Jun 28, 2012 - 12:07pm
Sneed Hearn
Jun 28, 2012 - 12:07pm

Lawless country

There is no longer anything pretending to be the "law of the land;" there is only brute force. The despicable political class and its appointed scum simply do what they want and pretend they even know what the constitution says. Tis long past time for nullification and secession to have their place in the sun.

R.I.P. United States of America. The founders knew we would only have a true constitutional republic for as long as we could keep it alive and the final shovel of dirt just went on the coffin. It is not possible to ignore the force but the "laws" are just paper, another version of fiat currency. There is nothing immoral about disregarding paper law - but it will be unpleasant to be caught doing so. Caveat emptor.

Dr G
Jun 28, 2012 - 12:08pm

@IS7, $1000 gold isn't

@IS7, $1000 gold isn't happening.

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