Sing It Like Maureen

A nighttime raid and a new day dawns.

Just a few items today as MrsF has designs on my time. An entire day of Christmas shopping awaits and I plan to take the excursion without my phone and the ability to check the "markets".

Last night's devious attempt to run the sell stops below 1705 succeeded in tilting the charts bearishly this morning. Whatever. I couldn't care less. I do continue, though, to find it amusing that every time we get an unexpected raid for $20 in gold, the same old trolls and naysayers show up. I'm not sure what they're trying to accomplish. First of all, why would I or any of you feel foolish for being bullish in the face of the fundamentals? Additionally, by blasting me as a "cult leader" etc, they seem to think they can discourage me and get me to shut this site down. Uhhhhhhh....let me make this perfectly clear: I ain't going anywhere. The Cartel can raid and manipulate. Their disinfo agents can plant seeds of doubt. Their dupes and shills can lie and deceive. Whatever. It doesn't matter. The facts are what they are and the fundamentals do not lie. Please utilize this time and these distorted, low prices to add to your stack. Physical metal is your only protection against the ongoing destruction of paper money.

Maybe these trolls are frustrated paper traders who get angry when the free chart analysis I offer doesn't work out as planned? Look, I do my best. I not only try to give you an explanation for what has happened but I also try to predict the future. Sometimes it works, sometimes it doesn't but everyone needs to keep these two things in mind:

  1. Not even Nostradamus could have warned you that at precisely 7:55 EST last evening, some weasel on a trading desk would institute a naked sell order with the intention of blowing out the sell stops.
  2. I don't even trade anymore. Yes, I have a small handful of long-term options but I have practically begged all of the traders that frequent this site to use Andy Maguire's trading service. Given the unprecedented desperation of the manipulation, you are absolutely crazy if you are attempting to trade the metals without his guidance.

OK, back to the business at hand. Since there is such a dogged determination to keep the metals down, we'd best be aware of the support levels and where price could head if those levels are broken. For now, the lows of last week are holding and that is certainly a good sign. However, as seen last night, The Evil Ones can emerge from the shadows at any time, day or night, to blindly raid price. Please use the charts below as guidelines for dip buying.

Finally I leave you today with the reprint below. I wrote this on Saturday, November 3rd, after the metals had been savagely beaten the day before. Gold was at $1675 and silver was under $31. Like today, many were fearful and the AGAs and trolls were everywhere. The message is simple: Any fight worth winning is going to be challenging and we don't take on this endeavor because it is easy, we take it on because our destiny requires it. Setbacks and frustration come with the territory but we must persevere. Keep the faith. Be strong. Vindication and victory will soon be ours.

TF

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https://www.tfmetalsreport.com/blog/4296/defiance

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. 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?
 

406 Comments

Just A Regular Guy's picture

@ Achmachat

Interesting info mate!

Oh boys and girls, we're still up say 8% for the year from say 1575/1700. We're doing ok :) Another green year smiley

I guess if you bought the tops of the cup-handle/inverse head and shoulders you might be a little annoyed, but nothing has changed, gold bull is play. Enjoy ze ride.

Revelation's picture

You Are in the Twilight Zone

Worth a Repost

Succumbing to The Trolls (Originally Posted) Wednesday, May 2, 2012 at 10:16 am
Fine. You win. I've been wrong, all along.
The global gold market is free, fair and honest.
The Comex futures market is a true, fair and perfect price discovery vehicle.
There is no demand for physical gold and/or silver in size. All of this talk about sovereign nation and central bank buying is simply a tool used to manipulate price higher.
The Federal Reserve never has, and never will, intervene in gold to manipulate and suppress price.
The bullion banks simply engage in selling forward for their mining clients.
Gold really is a barbarous relic of another time.
Fiat currency is wonderful because limitless money creation spreads wealth globally.
The Chinese are fools who mindlessly continue to accumulate dollars with no alternative but to reinvest those dollars into U.S. treasuries.
Same for the Russians.
And the Saudis.
And the Japanese.
Paul Krugman is a genius.
So is Nouriel Roubini.
So is Jeff Christian.
So is Jon Nadler.
The total debt level of the U.S. is manageable and not a problem, at all.
Economic growth will soon return the U.S. to peace and prosperity while allowing for the service of the accumulated national debt.
Barack Obama is the most intelligent and supremely qualified Chief Executive that the United States has ever had.
TARP was extraordinarily successful and actually turned a profit for the American people.
Deficits don't matter.
Money printing and quantitative easing is perfectly fine so long as the velocity of money remains low and the printing is nothing more than balances being shifted within Primary Dealer accounts.
Transfer programs such as Social Security and Medicare are fully-funded and will always be there to provide a safety net for the elderly, the poor and the disabled.
The Federal Reserve never has, and never will, intervene in the equity, treasury and/or currency markets.
Ben Bernanke is an Einstein-level genius. We are very fortunate to have him as Fed Chairman at this critical point in history.
Silver is simply an industrial metal. Always has been, always will be.
As a byproduct of mining for other base metals, the amount of silver is infinite.
Those hoarding silver are mindless robots, fooled by internet charlatans.
Jim Sinclair is a disinformation double-agent of the Rothschild family.
Trader Dan is a mindless pumper whose sole motive is personal gain.
Andrew Maguire is a figment of Bill Murphy's overactive imagination.
Ted Butler, Jim Willie and John Williams are scam artists who dupe the easily-frightened into paying for their over-priced and worthless analysis.
FOFOA, Keiser, VonGreyerz, Hoffman, Krieger, Embry, Russell, Pento, Schiff, Rickards, Celente, Rule, Fleckenstein, Faber, Quinn, Nielson, Naylor-Leyland, Turk, Martenson, Lira. All of them are nothing but 21st century snake-oil salesmen.
GLD is 100% backed by gold and it's custodian has no conflicts of interest.
SLV is 100% backed by silver and it's custodian has no conflicts of interest.
PSLV and PHYS are empty shell con games created and marketed to extract hefty NAV premiums from dupes.
Eric Sprott should be extradited to the U.S. on criminal front-running and book-pumping charges.
Mining stocks, in general, have been in a bear market since 2009 because the fundamentals are lousy.
The LBMA is a distinguished group of member firms which actively promote fair and free pricing of metal.
JPMorgan is a benevolent organization which only performs necessary investment banking services for their clients.
Goldman Sachs, Deutsche Bank, UBS, HSBC et al are similar, honest companies.
High-frequency trading helps in price discovery and provides liquidity.
The CME Group is a dispassionate facilitator of markets and clearing which stands ready to eliminate fraud and protect investors.
The CFTC is an objective and honest U.S. government agency which regulates the futures markets, always on the lookout for fraud and manipulation so that the regular investor and/or hedger can have confidence in a fair and level playing field.
 
Pining 4 the Fjords's picture

Orders for the monkeys

Groaner's picture

More negative crap from where?

http://blogs.marketwatch.com/thetell/2012/12/13/gold-set-for-dramatic-post-fed-correction-hedge-fund-manager/

slamming gold down is not enough, they have to keep the propaganda coming 

uchiki's picture

metals prices around QE dates

wish I'd checked this out before yesterday.  As a few pointed out yesterday, there was a high probability short/hedge to be had.  Excepting Twist, the move down has been pretty consistent in $ terms.metals prices around QE dates

Nana's picture

Simply Put

The PTB have committed treason on every level........

Bill of Rights's picture

Where does

Market Watch find these idiots?

Gold set for dramatic correction: hedge fund manager

http://blogs.marketwatch.com/thetell/2012/12/13/gold-set-for-dramatic-post-fed-correction-hedge-fund-manager/

Since 2001 all I have read was about a massive correction in Gold and for the last 11 years 100% of these so called economists have been DEAD WRONG!

silver66's picture

New stacker in Silver66 house

Let's keep some perspective. You want to buy your gold and silver like you buy your groceries not your perfume. Cheap is good!!

My daughter got her next pay cheque since her first stacking experience a couple of weeks ago. I asked how much she wanted to covert into real money. she said, she was not sure. We talked about Christmas coming up,holiday festivities and that she should not stack so much that she runs herself short of fiat and then resents her savings. She agreed and then said 'why don't I just take 20% and see what that buys and spend the rest. I won't miss that amount"

Mr Silver66 is pretty tickled pink right now

She has never asked yet what the price of silver or gold is, but this afternoon she will either have a bit more gold or about 3 oz of silver. Her decision not mine

I  hope they f#*kin smash the price today :-)

Silver66

onealpha's picture

Cult Leader?@!

Hahaha, Turd, you really have to just laugh at people like that.  Like we all worship at the temple of Turd, the great all knowing omnipotent one.  Geeez.  So in an effort to give you a good laugh I would like to ask everyone to follow this video and let Turd know what you want, but you cant get your money back as you haven't paid him anything!  Keep on Rockin Turd.

Oh yeah, I want to see somebody in charge of a bank go to jail, just one would make me happy.  If not that, I would like my Ring Dings back.  Maybe a lifetime supply of Ring Dings and Drakes Coffee Cakes.  Thanks Turd.

Mr. Fix's picture

RE, my problem with this Submitted by Dr G

Although I understand your position that we are just spectators,

I often say things like "I have a front row seat to the greatest show on earth here",

I also consider myself a participant,

in that all of my savings are in the shiny stuff.

Admittedly, my little stack has absolutely no effect on the price of gold in the current environment,

but Turd is right when he says that depletion of physical is the only way this ends.

When we stack, and we do it in numbers, we can actually make a difference if not in the outcome, at least in the timeline.

The entire system will implode eventually, the bigger our stack, the sooner that happens.

Admittedly, it won't make much difference in the scheme of things,

but for us as individuals who have had the foresight to invest in the precious metals,

we will undoubtedly be winners in the long run.

We couldn't possibly be winners unless we had actually been playing the game.

So in a very real way, we are  participants.

PaullyMoore's picture

Can't think of a better day to

stack!  Blythe gives us a gift after Ben announces another $500b in FRN printing.

Ircsum's picture

My stance.

Being retired, I don't have a lot of spare fiat but can usually scrape a little together about every 2 months. I'd been sitting on my latest 'scrapings' for about 10 days. With QE4eva on the horizon it seemed a good time to jump in again BUT.......every time folks have been wildly enthusiastic for the PMs or Doomberg have trotted out their analysts with bullish forecasts, the metals have been smashed - just to prove everybody "wrong". So I held off until this morning. I may not have got the bottom but I was happy with my little purchase. Buying when folks are weeping & wailing seems a better time than when they're expecting PMs to go "to the moon" - just needs a little discipline. wink

Condor's picture

Anyone Else Read the Most Recent from QBAMCO?

I thought the latest letter from QBAMCO was interesting.  http://www.scribd.com/doc/116587147/Qbamco-It-s-Time

Apparently Lee and Paul are trying for a more mainstream explanation for the gold and silver manipulation.   Their theory is that China, Russia, South Korea, et. al. are operating their own hedge funds that naked short the metals so that they can take physical delivery out east.   While this might save them a certain percentage on the purchase price, what of the massive losses they would be accruing in the sovereign hedge funds?   The math on this does not make sense to me.   Does it to anyone else here?

hammerman's picture

turd

you are bout the only guy not caving in and predicting a stock market sell off ?   yes the PM's will take a tempoary hit too....  where are you?    who you taking in tonights game?  hehe   hehe

Mr. Fix's picture

@ Bill of Rights

" Where does Market Watch find these idiots?"

As someone who spent years reading the articles there, then posting in the comments section,

it is my experience that Market Watch is nothing but a propaganda tool for the statist agenda.

Their articles are beyond biased, they are criminally negligent in their reporting of facts, and what they consider news.

There were very few of us in the community who considered gold a good investment,

and any commentary in support of gold or silver investment would simply be deleted by the administrators.

I have since concluded that not only do these people have an agenda,

they are skillfully executing it with every tool at their disposal.

They are not idiots,

they are evil geniuses.

I guess by now it's no small wonder that my account got deleted.wink

Groaner's picture

what happened to the good old days when the metals trade

inverse to the dollar.. the PIG is going down, but we are going no where..

Cant figure out what the metals trade with anymore.

Terp's picture

Not on the sidelines

I know my small purchases every month don't amount to much in the grand scheme of things.  And my few micro-Gold contracts amount to less than a small gnat buzzing around the Cartels.  But together, all of us are like a swarm of annoying gnats flying around the EE!  Have you ever been on a river in Canada - or in the rainforest in Africa or South America - or around the swamps in Australia??? Me neither - but I know there are some here that can assure us that one gnat, blackfly, botfly, mosquito is just a pest, but a swarm gets annoying quick!

We're in this fight! We may be a tiny part - but we sure are annoying!!

I say we keep it up!

:P

Edit: And a swarm of turds is even MORE annoying!

kn33bar's picture

Have no choice

Once your eyes are opened you can  not go back 

Pining 4 the Fjords's picture

Hammerman- 2 questions

First, aren't you that poster AGoldHamster that got kicked off for general assholishness quite some time ago?  And second, when you write "hehe   hehe" I cannot help being reminded of the laugh of Beavis- actually, your entire post reads like the voice of Beavis.  Do you wear a Metallica T-shirt?

Hrunner's picture

Maureen

Ironically, Maureen McGovern also sang the theme song for this movie

I agree with the movie tagline!

Doubly ironic, the movie plot involved the following:

"The film begins with a tunnel collapse at the Sonderditch mine, in a scene that establishes the courage of Slater and his chief miner, 'Big King', and the bond of trust between them. This is contrasted with the contempt with which some other white managers treat the black miners. It is soon revealed that the collapse was no accident, but part of a plan by a London-based criminal syndicate, which includes the mine-owner's son-in-law Manfred Steyner, to destroy the mine so that the syndicate members can profit from share-dealing."  http://en.wikipedia.org/wiki/Gold_%281974_film%29

Prophetic?

hammerman's picture

pinner... no..i not ur boy...

but i am a guy who comes in here and expressses my opinion ...  if you want a boyfriend go get a skimmer mag ....   cheez

Mr. Fix's picture

@ Condor

You said,

"The math on this does not make sense to me.   Does it to anyone else here?"

Trying to make sense out of nonsense is the first problem. 

coming up with multiple theories on how the manipulation works, maybe a fascinating academic exercise,

but in the end, it does not change anything.

Admittedly, they might be trying to shift the blame for what is so blatantly obvious,

to evil forces on the other side of the world,

but for us, it ultimately does not matter.

Since nobody in this country will be held responsible anyway,

the games will continue until there is no metal left.

Maryann's picture

Family and metals

Dr G, that was a great post about the family.  I wholeheartedly agree with you.  Our culture has  been conditioned over the years to slowly but surely minimize the importance of family and parenting.  I just hate how fathers, in particular, are portrayed in the media as inept and dumb.  I think that is such an insult to men.  Staying involved in your child's education is a parents responsibility, and on top of that, an honor and joy.

I have been guilty of impulse buying in the past thinking I'll miss the opportunity, only to have price decline shortly after.  This time I waited, and though it's only a few dollars difference, makes me happy. smiley

¤'s picture

Stay the course

Do what your instincts tell you to do and be true to yourself no matter what.

Stay the course if you think you've plotted a sound one and stick to your guns.

It's time like these that will shake out the weaker hands (and minds) only to kick yourself in the ass next year or the one after that for having bailed out.

Be strong and stay long...

onealpha's picture

I am surprised by the way

I am surprised by the way Gold and Silver have reacted to yesterday's news, but I am not really worried about it.  Seriously, there are too many factors in favor of PM's and the fundamentals are shit.  However, if the Fed is a able to keep the PM trade in suspended animation for an extended time then shit on me.  It really doesn't matter any more does it?  Everything will be shit.  At some point the illusion has to connect to reality or we are all living a bullshit dream.  I don't have any grand plans of living on a farm or going on a long walk.  However, if the paradigm has changed to bullshit as reality, then I am just not going to care anymore.  I am going to collect my gold and silver because it is the only way I can passively say FU! to the Fed and the Corportate Banks that have taken control of my country.  I do not want to go back to sleep and I dont regret taking the red pill.  The optomist in me believes that this is all contrived as cover for the shorts to lighten their load after the big buildup prior to the announcement, create the illusion of a big selloff to match the cover story in the press, and help dampen enthusiasm for PM in the markets.  By my calculations, we should see Gold and Silver recover and begin climbing shortly.  Slow and Steady for the foreseeable future. 

Oh yeah, Turd, I also found this great instructional video on how to be a Cult Leader.  I think you are doing it all wrong.  Maybe this will help you.

Katie Rose's picture

thurd aye

One of the hardest lessons I have had to learn in my 64 years is that in order for there to be a happy giver there must be a gracious receiver. Someone must humbly say "Thank You!" in order for the giver to feel that wonderful warm glow that comes from an act of goodness.

Dr. G's generosity to me was unasked for and totally unexpected. I was "blown away" by his generosity - and very grateful.

I've also been deeply saddened by the reaction of many here to his act of loving kindness.

At age 40 I smugly looked at my place in the world and silently declared that by age 50 I could easily retire. At age 50 I declared Bankruptcy. My entire 40's was spent fighting for my life due to Lyme Disease. At age 51 I had nothing but my clothing and a used automobile. Everything had been sold to pay for my illness. My home, my rentals, my furniture - all gone.

I had many near death experiences while ill. My heart was forever changed.

I know what it is like to start over again with nothing. I am not bitter about it. I am grateful that I was given another opportunity at life. I have worked hard for what I have now. But I realize how transient it is.

What I have learned is that when it is all said and done, it is all about our hearts and our ability to love. It  truly is.

In the days ahead we all are going to be tested.

Saying "Thank You!" is going to be as important as extending a helping hand. Both are acts of love and generosity. I don't believe we will make it unless we can become both givers and receivers.

Keg's picture

@Dr G

Excellent comments.  My first grade teacher wife came home yesterday making very similar comments about education and parents.  She is reaching her tipping point and may not be able to take it much longer.

TallBloke's picture

A Shortage Perhaps?

I've lurked for ages and really appreciate the whole Turd community! I've been stacking for a while and have been the butt of a few jokes and disdain. I'm now slowly dumping my ETFs for physical (even though they have been profitable) because I'm getting real nervous.

Anyway, I'm in the UK and buy my Britannias (CGT exempt in the UK as a "coin of the realm") from Coininvestdirect.com as there cheap, quick, and efficient, and also give you a chance to avoid some of the scummy 20% VAT due on Silver in the UK. Normally I get a shipment date the day the payment cleared and this time I had to wait 6 days, now this is a VERY efficient German company. Also I buy by the 100 so the coins come in neat sheets of 25 which are  hermetically sealed, but this time none of the sheets were intact and a lot of the coins were individual or in twos and threes. Are supplies getting tight?

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