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Recalling 2004

347
Wed, Nov 7, 2012 - 10:37am

I guess now the R-republocrats understand how the D-republocrats felt eight years ago.

In 2004, George W was re-elected as POTUS. D-republocrats were incredulous. How could anyone, in their right mind, vote to re-elect the guy who:

  • Failed to stop the 9/11 attacks.
  • Failed to find OBL in the Hindu Kush.
  • Began a war with Iraq ostensibly because of their stockpile of weapons of mass destruction.
  • Did not find any weapons of mass destruction in Iraq.
  • Declared "Mission Accomplished" in May of 2003 then saw the war worsen in 2004.
  • Had overseen a stagnant and flat economy while turning the "surpluses" of 1999 into deficits.

Hmmm. On their side, the D-republocrats had decided to nominate a stiff from Massachusetts who toed the old party line and hoped to coast to victory. Sound familiar?

The moral of the story is this: In the U.S.A., it is very difficult for a challenger to unseat a sitting president. The American citizenry is equal parts cautious, apathetic and downright stupid. And, in the end, they often vote as if "the devil you do know is better than the devil you don't". The incumbent won again. It's as simple as that.

So, what does this mean for all of us here in Turdville? Please do not despair over the action in the metals today. Remember, the manipulating banks NEVER allow the appearance of cause & effect or quid pro quo. A $100 rally in gold today, immediately following Election Day, would be too obvious. Additionally, after the squeeze of yesterday, the somewhat-panicked shorts are desperate to re-gain momentum to the downside. Whatever. Let om.

Just the buy the freaking dip. Things are about to get really crazy.

  1. A lame duck session of Congress is about to begin where extremely contentious debates will be held in an attempt to avoid the "fiscal cliff" and"Taxmageddon".
  2. The debt ceiling will be reached in December or January and another credit rating reduction looms.
  3. The next FOMC meeting in December will almost certainly detail the final numbers for QE∞ and, once Operation Twist ends next month, the true size and scope of the printing will finally be known to all.

So, if you ask me whether or not I give a shit about gold and silver being down today, I will give you an emphatic "NO". The situation in the U.S. and the world is only going to become more tenuous and grave over the next 2-4 years. Your only option is to continue to plan and protect yourself and your family. Physical gold and silver are the only financial protection you have. Buy some today.

TF

p.s. MrsF's surgery went well yesterday and I am leaving soon to bring her home. Thanks to all for the well-wishes and prayers.

p.p.s. This is the final thread where I am going to allow the venting of political glee or frustration. Tomorrow, it's back to the business of trading, stacking and preparation.

p.p.p.s. And just because I mentioned "Bush" and "9/11" in the post above, please don't post a bunch of 9/11 conspiracy stuff here. We have a forum for that if you're so inclined. https://www.tfmetalsreport.com/forum/2094/911.

About the Author

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

  347 Comments

babaganoush2307 · Nov 7, 2012 - 10:43am

yep

SilverFocker · Nov 7, 2012 - 10:44am

now than I was yesterday..........was not expecting much long term , but short term, Yea.

Double Nut punch!

Nuclear Rocketman · Nov 7, 2012 - 10:46am

First, finally. Good news on Mrs. F!

GeraldBostock · Nov 7, 2012 - 10:47am

Fore!

ACM · Nov 7, 2012 - 10:48am

Get her well before all the crappola finds the fan.

HeNateMe · Nov 7, 2012 - 10:48am

I just liked the ring of that subject line. It has nothing to do with this post. 

Happy that Mrs. Turd is on the mend and heading home. Hope the rearrangement of her insides has left her feeling younger and sprier.

Now why don't y'all move to Washington State where the doobies abound! I still can't believe that measure is passing. Not to say I disagree with it, just that I never thought I'd see the day.

Anyway, I am thirsty and in search of some Funyuns. Peace.

HeNateMe

Dobocop · Nov 7, 2012 - 10:48am

Markets looking great. Dow Sub 13000. S&PSub 1400...

sengfarmer · Nov 7, 2012 - 10:48am

At least it's something:)

Dimeboy · Nov 7, 2012 - 10:49am

whenever they get more dimes, they call me!

EDIT - still going forth on the seventh - don't care!

El Gordo · Nov 7, 2012 - 10:52am

Here's a piece that I may have posted here before, but it goes a long way toward explaining where we are now:

https://cantrip.org/stupidity.html

Sisyphus · Nov 7, 2012 - 10:57am

Turd - glad to hear.

Meanwhile, PMs go up, PMs go down. Sigh.

Homer Simpson - Bed
· Nov 7, 2012 - 11:01am

$1730 and $32.50 are still the levels they are desperately hoping to defend. Just be patient. They don't see the shitstorm that lays just below the horizon.

Beastly Stack · Nov 7, 2012 - 11:03am

I like your take on the outcome.I was sick to my stomach last night just thinking of the small businessman here in the United States.Oh well,we knew what was gonna happen I guess but I really was hoping for a change.

Life goes on,no matter who the POTUS guys like me are out to fend for themselves.Scary times indeed!

I have not bought into the markets yet and this really is fun to watch,as far as the equities go.The economy sucks and I we will have to see how much longer we live in FANTASYLAND!

Or is REALITY going to smack most Americans right across the face HERE AND NOW?

Glad to hear your bettter half is coming home today and I pray for a quick recovery!

tpbeta · Nov 7, 2012 - 11:05am

My theory that Obama is good for PMs is not doing so well today. But it will eventually

tobydaniel · Nov 7, 2012 - 11:05am

And the consolidation continues! Wonder how low we go? 30, 29,28? With Obama in and the elections gone, it's time for the cartel to get even more ruthless. 

Xeno · Nov 7, 2012 - 11:14am

Now I've seen it all.

I'm not talking about the election, it was as predictable as a riot in the streets. I'm not talking about today's smash down in the metals, it's as expected as a banker stealing bullion from a bankrupt commodity dealers' customers. I'm not talking about the utter failure of the constitutional republic, that happened in the '60's when Kennedy was shot. I'm not talking about legalized weed or drugs in general since laws don't stop anything anyway. I'm not talking about America having gravitated to the lowest common denominator, stupid is as stupid does.

No, I'm talking about S&P upgrading the rating on... wait for it... the pinnacle of world finance and above board dealing... the one country where millions of people will pay you hefty sums to help them get their money out of it... Nigeria.

https://www.reuters.com/article/2012/11/07/idUSWLA591620121107

Now I've seen it all. But I really shouldn't be surprised. Now I know where all the missing billions went. Kudos 'Bama, you're their hero.

Urban Roman · Nov 7, 2012 - 11:18am

Turd, I loved that comment "A stiff from Massachusetts who thought he could just toe the party line and coast to victory." Hah, that sums it up so very well.

Chris Hedges has posted a particularly acidic rant, I shall leave it as an exercise for those who read Chris Hedges to find it.

Bottom line is, 97% of Americans voted for O'Bomney. I voted third-party but never expected it to make any difference. If we had more third-party voters, they would get more ballot access and maybe matching funds. It's not like we had any real debates this time. It was very instructive to see Ron Paul completely ignored by the Republicans, and to see some of the progressive-side third party folks arrested outside the debates. 

SilverSurfers · Nov 7, 2012 - 11:21am

Rick Rule in KWN led the MORE VOLATILITY charge.

So, lets recap just a tad.

Fiscal Cliff, Taxes, debt limit to hit BHO hard coming out. Republicans either cave or not. They have to cave, throw out principles, and go along with huge tax increase, military cuts. BHO is a ideolog and has no problem cutting the military or what is left of capitalism and free private market economy. So BHO will win because he will force his socialism. Surely, the republican will shut down the government a week here, a week there, the ardent protest, BUT THEN CAVE.

The problem with the republican party is that it does not stand for REPUBLICANISM.

FED has a green light from the BHO, who knows that his counterfieter-in-Chief Bernake will print as much as is desired. So, the gold bull runs, but with flash

Of course, Bernake is the real head of the EE, he can procure any bad debt and reward an crony bankster for the chicago machine. This is where the fascism comes in, where corporate bankster monied interests and politicos hot bunk.

But, from the depts of the failed republican party, (yet again, a moderate --DEM LIGHT-- republican is in affect no choice, just a small matter of degree), there will be a couple of noble republicans who stick to their guns, and try to slow the relative size of government, but never really hitting the mark, of -- limited government --

So, BHO the idealog is in control and damned be budgets, deficits, debt limit, he will jam more socialism and more fortress mentality, backed by a FED bent on QE to infinity, and thus, a faster road to implosion than had Mitt been victorious.

So, Bernake dodged a bullet will be retained as the counterfieter-in-chief, with a primary goal of achieving employment increases while maintaining the "integrity" (hahaha) of the financial and banking systems, bailing out banks, with his trigger finger on the printing presses, and his back hand in comm with the bullion banks to suppress bullion. 

So, we have: 1) steady up channel trend, 2% caps where necessary, in bullion prices; 2) Iran; 3) Bond market implosion; 4) QE to infinity; 5) Liberal Agenda in the WhiteHouse; 6) EU Banking Trade Union; 7) Global Currency Debasement; 8) Increasing physical Demand; and the primary back drop to the immediate future, say the next 4 years. We have the potential for black swans, of course, but in the over all view, these drivers will keep the bull run in bullion alive and well, and their respective crises levels rising and falling over time, providing the volatility that Rule cite earlier.

Now we have Rouge House Republicans who will not just capitulate UNTIL AFTER they have ranted and delayed sufficient to save honor, and then capitulate, and the deficits will roll on, the printing presses will roll on, as more and more republicans take turns falling on thier swords, delaying this and that, but in the end always capitulating. The injection of fiscal cliff and humiliated republicans, trying to save face, will cause increased volatility (on the LOG scale, if you are diggin what I mean), within the up trend -dont fight the FED--, due to the inherent political divisiveness providing trading opportunities for adjusting cash-gold-silver percentage positions over the coming presidential term, 4 years of rocket shots and take downs, providing wealth protection and profit opportunities. Dont think things cant get worst, they will, and profit accordingly if you trade, and keep stacking your little bit of freedom under Totalitarian Socialistic Fascism in the USSA. Tocquiville got it right.

So, Expect increased disorderly bull-market in-channel volatility over the next 4 years.

Silver Alert · Nov 7, 2012 - 11:25am

Denninger, https://market-ticker.org/, has put his alert status at 1, meaning he expects all hell may break lose within a few weeks. He hasn't spelled it out yet but appears to think it has to do with what's in the ZH post this morning.

Greek Brothel To Sponsor Broke Elementary School

oops, wrong ZH post. Let's try:

Mario Draghi Sends Risk Reeling After Exposing Bitter European Truth

edit: Reggie Middleton has now followed up with:

I believe Germany poses the biggest threat to global harmony for 2012. Here's why...
my mothers keeper · Nov 7, 2012 - 11:31am

turd! i couldn't get past this:

"In 2004, George W was re-elected as POTUS."

gw was never re-elected. in 2000, he was appointed. this is important. we should never forget that the supreme court stepped between us and the ballot box.

"In 2004, George W was elected as POTUS."

there, fixed that for you.

Groaner · Nov 7, 2012 - 11:31am

with the old risk on and off routine even though the markets futures were off over 100 points.

so today we see who won out.. the Cartel again, for now that is.

This crash today has to be a huge slap in the face to the Obama administration, a vote of no confidence.. duh

Nana · Nov 7, 2012 - 11:31am

Glad to hear she is coming home.

Dawg · Nov 7, 2012 - 11:33am

I awoke, climbed out of bed without waking Mrs. Dawg, saw the sun had risen, the sky was clear, winter was in the air and the metals are pounded.

Just another day in paradise with no changes that includes looking at my excel spreadsheet and feeling warm and fuzzy about my "stacks" of precious metals, firearms, ammo and the small 10 acre farm we own.

Yes, another day in paradise!

BRING IT ON! We here in Turdville are ready for it........

Arf

foscotanner · Nov 7, 2012 - 11:34am

I think metals are okay

EUR/USD was 12870 and now 12760 = Battered

Dow was 13300 earlier in futures and now 12883 = torpedoed.

Gold was 1730 and now 1711 = Not too bad

Silver was 3235 and now 3157 = disappointing.

oil down over $3

so all in all.........

Groaner · Nov 7, 2012 - 11:38am

Hi Benny,, uh, need you start up the presses,, wake up the PPT, start buying everything in site,, it will help for another week.. thanks your buddy bommer..

GDP · Nov 7, 2012 - 11:39am

I'm in the middle of refinancing my underwater house. My interest rate is dropping about 1.75% which should free up at least $200 a month. If I have the time and patience, why would cost averaging be better than just waiting for say 10%-15% moves down and then unloading in one or two or three buys a year? So far in my short stacking career...I been buying when I see at least 10% percent down moves...Thoughts please?

Punk-Assets · Nov 7, 2012 - 11:43am

I bought gold heavy at 1715 then 1678. Given the broad market plunge I am feeling pretty good about the metals. Im talking about stacking the real stuff- I don't fool with the paper.

Beastly Stack · Nov 7, 2012 - 11:45am

From the looks of the action this morning it appears Gold will stay above 1700-

I wanted to buy at 1670 but I do not see that being likely,I'll wait to see how CRIMEX closes today b4 entering on the long side.

Could we have a top in the 30 year TBond?Could very well be just above this 150 handle-certainly bears watching!

Fiscal cliff and talk of a US downgrade-ultimately Bullish Metals and Bearish Bonds!

Anonymous · Nov 7, 2012 - 11:47am

Removed comment.

ballyale · Nov 7, 2012 - 11:49am

Then the US has rarely been more united. (Sarc). The problem is that there are two companies and each one of them hates the other with increasing fervor.

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Key Economic Events Week of 11/12

11/14 8:30 ET Consumer Price Index
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