Defiance

325
Sat, Nov 3, 2012 - 11:24am

Well, you can either give up or carry on with renewed determination. I choose the latter.

These are the times that try men's souls...

Let's see, what do we know for certain?

  • Quantitative Easing is now a permanent fixture of the financial markets for, without it, the U.S. bond market would collapse and interest rates would reset multiples higher.
  • The U.S. federal deficit will continue to be greater than $1T/year, regardless of the outcome of the election.
  • Later this month and into December, a "lame duck" session of Congress must come to terms with the looming fiscal cliff and well as an imminent breach of the debt ceiling.
  • Further downgrades of the credit rating of the U.S. are likely.
  • The European Union, already tattered at the edges, remains on the brink of crisis and dissolution.
  • Dollar creditor nations, led by China, are rapidly accumulating gold and silver as they exchange their devaluing fiat reserves for hard assets.
  • Dollar hegemony and reserve currency status will, one day in not-too-distant future, come to an end.

I could continue but I think you get the idea. Regardless of the paper machinations of the Comex, physical precious metal remains your best defense against the tumultuous times ahead.

The summer soldier and sunshine patriot will, in this crisis, shrink from the service of Turdville...

I think you know where I stand but where do you stand? Will you now become bitter? Will you be easily swayed by the uninformed and the disinformation agents? Do you have the courage of your convictions to not only find your way but guide others through the darkness?

Yesterday was tough and, worse, unexpected. But don't think for a minute that it was a selloff directed specifically at the precious metals. Look at the Dow and crude:

Look at the grains:

In fact, about the only things catching a bid yesterday were bonds and the dollar:

So understand that there may be more going on here than you think. The situation in Europe is tenuous, at best, and things on the ground in the U.S. aren't much better. For now, the precious metal "baby" is being thrown out with the proverbial "bath water". You should seize this opportunity to add to your stack.

  • With all of the selling in gold and silver yesterday, just whom do you think was taking the other side of that trade? Let give you a clue...it wasn't the specs.
  • Backwardation, as measured by the difference between the futures "offer" and the spot "bid", has reached a level of such extreme that it makes further significant declines highly unlikely.
  • Our friend, Andrew, reports that demand in London yesterday remained "exceptional" and "unprecedented". Though the effects of this physical demand can often by muted on an intraday basis, it nonetheless precludes the bullion banks from exacerbating the moves to the downside.

But he that stands by it now, deserves the love and thanks of man and woman...

I personally promised you a "hot, explosive and historic" summer. It, obviously, did not come to pass and, so far, it has not materialized this autumn. Do not be dismayed. I personally know of several extraordinarily brave and courageous people who are actively working to bring about an end to the blatant manipulation of precious metal price by the Bullion Bank Cartel. With firm reliance upon the protection of Divine providence, I am extremely confident that they will be successful. When they are, not only will the manipulation end but, perhaps, the plundering of Western reserves will slow, as well.

Tyranny, like hell, is not easily conquered; yet we have this consolation with us, that the harder the conflict, the more glorious the triumph...

So, again, I implore you: Do not lose faith and do not suffer from doubt. The end of The Great Keynesian Experiment is indeed upon us and you must continue to prepare accordingly. Do not be swayed by the day-to-day trading of the Comex nor the incessant noise and disinformation supplied by the financial media. Think for yourself. Study the past and the present, then consider the future. Trust your instincts. Believe in yourself and your ability to lead and inspire. Your family needs you. Your friends need you and Turdville needs you. The future demands leadership at every level and we all have a role to play. I will continue to do my part. Will you?

TF

About the Author

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turd [at] tfmetalsreport [dot] com ()

  325 Comments

Fade2Black
Nov 3, 2012 - 11:28am

First ?

First ?

MrGuboci
Nov 3, 2012 - 11:33am

2nd

Read the whole thing before noticed nobody else commented :)

SilverFocker
Nov 3, 2012 - 11:36am

Bitter?

Hell NO................Metals on sale and I am a Buyer.

I could care less what the buffoons do, one day it will be that they can non longer.

We only have a few more days until the election is over, this is my focus when I come in from hunting............The Rut is on and metals are on sale......It's a Redneck stackers dream.

meegoreng1
Nov 3, 2012 - 11:37am

Before you go out to vote....

...and think it can make a difference...

treefrog
Nov 3, 2012 - 11:38am

defiance

defiance, encore defiance, toujours defiance, and FOURTH, defiance.

Nov 3, 2012 - 11:42am

I know it's almost election time..

...and thank God because the incessant political nonsense is killing me.

Though there are just 72 hours to go, please try to keep this site on-topic. If you feel compelled to attempt to persuade or dissuade, please take it somewhere else. I think most of us here are sick of it.

(NOT intended for meegorngi's post above. Just a general observation.)

Teach
Nov 3, 2012 - 11:46am

Still in for

the long haul. Where else can you put your $? My little stack of "insurance" is one of the key components of my sense of security these days. I sure don't get the same from my pension plan or my government. Take a look around...it's a global sh*t storm in every direction. Try and find a developmental trajectory that gives one a sense of optimism. Politics? Not. Economy? Not. Environment? Not. Internationalism? Not. Social net? Not. Damned hard to do from where I sit. Not that anybody ever told me there is such a thing as a 100% guarantee....but I'll stick to the plan. Long precious metals and gardening...and going to stay that way. Thanks Turd, for the site and the guts to stay the course and call the truth as you see it.

meegoreng1
Nov 3, 2012 - 11:51am
Monedas
Nov 3, 2012 - 12:13pm

Orange ?

If you're still out there .... please reprint your post from the end of the last thread .... about the 1 kilo silver futures in India .... 66% of open interest contracts DELIVERED ! Monedas 1929 Comedy Jihad Rare Public Service Announcement World Tour

SaratogaPrepper
Nov 3, 2012 - 12:17pm

3 days until

the election. Like that is important. It's the day after that really counts. I get to find out what my wife ordered from Provident Machine Bearings. Well, I couldn't hold off any longer. Worked a boatload of overtime due to Sandy, so Upstate NY is pretty much back on (you're welcome). Placed my 24th order of the last 11 months with them. Seems they were having a HUUUGGGE sale. The wife will be proud of me. Anyways, Lake Champlain will be frozen over soon and I needed something to sit on while ice fishing. Just hope Champ doesn't steal this shipment.

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