A Bernank Hat Contest

170
Thu, Sep 13, 2012 - 9:58am

With little else to do for the next 2.5 hours, we might as well have some fun.

Let's make this contest a little more subjective than those in the past. I'll pick three winners from all entries that most accurately describe what, if any, actions that The Fed announces today as well as predict the 5:45 pm EDT closing Globex price of both gold and silver. Feel free to lobby for yourself but I, as The Almighty and All-Powerful Turd, shall have sole discretion in determining winners and losers.

So, please use the comments section of this thread for your predictions. I will close this thread at 12:29 EDT so that no one can sneak in post-Bernank. In the meantime, try not to get distracted by the micro moves ahead of the Fedlines. All you are seeing this morning is algo/WOPR gaming of buy and sell stops. Ignore it unless the moves become $10+ in gold and/or $1 in silver.

And for your reading pleasure, I submit the link below. Sort of a rehash of many of the common themes here at TFMR but a good read, nonetheless.

https://theeconomiccollapseblog.com/archives/china-and-russia-are-ruthlessly-cutting-the-legs-out-from-under-the-u-s-dollar

OK, have at it. I'll be back with a new thread and full Turd-analysis after we see the Fedlines.

Have a fun day!!

TF

About the Author

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turd [at] tfmetalsreport [dot] com ()

  170 Comments

Sep 13, 2012 - 10:10am

Apparently many of the early

Apparently many of the early entrants haven't paid attention to the specifics. To win, you need to:

  1. Accurately predict what actions The Fed will announce
  2. Accurately predict the 5:45 price of gold
  3. Accurately predict the 5:45 price of silver
El Gordo
Sep 13, 2012 - 10:10am

Can it be that I'm in the top 10?

Maybe.

Gold 1743.15

Silver 33.55

Fed action - They may or may not consider injecting liquidity into the market through additional asset purchases, through additional ZRIP (although there is little room to do more), through more QE(3), or utilization of other tools at their disposal should the market require such actions. They will closely monitor the European and Asian situations to be certain that no disintermediation exists or to provide dollar liquidity to the Euro market to prevent a seizure should it be needed. Of course, all bets are off should the situation in the middle east deteriorate or in the event of nuclear war in the area. Otherwise, modest economic recovery will continue in the Estados Unidos and there should be no need to make any material changes at this time.

The8thHabit
Sep 13, 2012 - 10:11am

My predictions

No formal QE3 announcement just a little change in blah-blah-blah- I mean the language of the statement - Fed is ready to step in if needed and all that crap. Gold closing on Globex at $1,702.40, Silver at $32.03.

Larry
Sep 13, 2012 - 10:14am

Sterilized QE

That's what he calls QE 3, which is already red herring BS because it's what he's been doing, non-stop since 2009. "Printing" and shipping barge loads of POSX manure to buddybankers in the EU.

But he won't say that he's initiating it now. Basically, he'll say as they say in the South, "we're fixin' ta start". The S-QE statement will be something along the lines of, "we are ready to deploy it at any time we deem necessary to help the ban... uh, economic sectors that have been hurt by us, um, no, I mean the ban... uh, drought and other outside forces that are not in our control. Oh, and those two political parties. They spend too much. They have to get spending under control. There is only so much we, the almighty Fed can do you know".

Gold 1733.20

Silver 32.60

fred704
Sep 13, 2012 - 10:16am

FRED704

Sit on my hands and let gold drop to 1683 and silver to 30.8 but we might be open to extending zirp

Dr G
Sep 13, 2012 - 10:17am

1. Fed announces formal QE 3

1. Fed announces formal QE 3 with no set closing date. Could go on for 3 months or for 12 months. Fed will announce at each subsequent FOMC meeting whether or not the new QE is ending or continuing. Operation Twist 2 will be discontinued. Interest rates remain the same (non-existant) into 2015 in need be.

2. $1810

3. $35.25

RRJJ
Sep 13, 2012 - 10:17am

Bernanke will decrease

Bernanke will decrease the interest paid on excess reserves. Markets will first tank but recover fast and finish the day higher.

Au: 1750

Ag: 34.50

What time is the all mighty speaking by the way? I seem to see different times on different sites.

Patrancus
Sep 13, 2012 - 10:19am

The Bernank will do

The Bernank will do what a good store front does and that is continue to provide excellent cover for the backroom of Treasury Department's ESF

We are going much higher despite the propaganda ruse, keep stacking.

Zoltan
Sep 13, 2012 - 10:20am

Ooo! Ooo! Ooo! I'll play

What the fed does: The Bernank will stammer, his lip will quiver, beads of sweat will appear on his forehead, more stammering, some hmming and hawing, and then say thank you and leave. He will announce jack shit. Just platitudes and promises to "continue to monitor the situation".

The price of silver and gold will spike higher when he starts, lower when people realize he isn't going to say dick then higher when people realize it doesn't really matter what he says cause he never stopped QE in the first place.

Closing prices Gold 1735 and silver 33.50.

Z

Deeper
Sep 13, 2012 - 10:22am

Fed Announces QE Infinity,

With no definite start date or timeline, only specifying open ended MBS and bond purchases. Extend ZIRP policy through mid 2015.

Closing Price today $1769.50 Gold, $34.69 Silver

170 Comments on A Bernank Hat Contest

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