Sing It Like Maureen

406
Thu, Dec 13, 2012 - 9:53am

A nighttime raid and a new day dawns.

Video unavailable

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?

About the Author

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

  406 Comments

Dr G
Dec 13, 2012 - 10:17am

@Turd, my problem with this

@Turd, my problem with this whole "fight" analogy against the Cartel is that we aren't even in the battle, right?

We are just watching from the sidelines. We aren't active participants. Sure, we have a side we want to win, but us "throwing in the towel" has no effect on the battle. What we buy to stack, or what we trade in futures or options, has no effect on the outcome of the game.

Somehow we as fans, have convinced ourselves that we are on the team. We aren't. We are just watching them on TV.

Wizard
Dec 13, 2012 - 10:19am

A Thank You

To the weasel on a trading desk that instituted a naked sell order with the intention of blowing out the sell stops at 7:55 EST last evening.

THANK YOU, i will be heading out soon to my local coin shop to add to the stack.

Tra la la la, la la LOL

achmachat
Dec 13, 2012 - 10:20am

German precious metals stores

little piece of info:

some of the online sellers stopped lowering their prices after today's smack-downs.

I guess we can call this a de facto divergence of paper price and physical? ;-)

(some other stores still have the "auto pilot" on for their automatic price updates, which means that as of now, their silver maples are around 0.30€ cheaper than those who refused to lower their prices)

Dr G
Dec 13, 2012 - 10:21am

You may not be but I am

I am well immersed in "the fight" (though my role still seems so surreal) and am not simply observing. My primary job, though, is to take the battle directly to them.

Everyone on this site is indirectly involved because the only, reliable weapon against them is physical depletion. Growing awareness and taking action is critical.

Grublux
Dec 13, 2012 - 10:21am

Miners

Seem to be relatively resilient in the face of this beatdown

padme
Dec 13, 2012 - 10:21am

Dr. G, really like your essay

I am sorry to say this but some Americans have no clue how important it is to help their children to learn. My American in-laws, particularly my sister-in-law can not stand me because they think I "push" my kids too much. She brags how she is not helping her child at all, saying she will let him fail and embarrasse himself, and her family agree with her. Sometimes I wonder if I am still in the planet earth any more. Good to see a writing like the one you just posted.

Sisyphus
Dec 13, 2012 - 10:22am

So, maybe only $1,000,000,000,000 then.

According to the MSM financial media, PMs are tanking as they think Ben will stop QE when unemployment hits 6.5%, and this could happen just a year from now. In which case, 'only' $1 trillion extra dollars will be printed.

So naturally all the metals are being pummelled.

Bill of Rights
Dec 13, 2012 - 10:22am

Blankfein: Borrow As Much As You Can at These Rates Because Inte

https://www.cnbc.com/id/100306183

Blankfein said that Goldman is advising all its corporate clients to borrow "as much as they're going to need for as long as they think they could need it" because of the low interest rate environment.

The sooner than expected "growth" that Blankfein refers to is, of course, Fed manipulated growth, largely the result of money printing that will ultimately also cause price inflation, which will push interest rates higher.

Groaner
Dec 13, 2012 - 10:23am

like to see 32.80

above that and we break a down trend line for a bit.

1702 on gold

ClinkinKY
Dec 13, 2012 - 10:23am

@ TF

Couldn't help noticing that your song of the day, "The Morning After" is the theme song from "The Poseidon Adventure".

You know, where everything is "upside down".

I'm going to consider myself Ernest Borgnine, one of the few characters to survive the capsizing:)

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