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

silver66's picture

I am always amazed at how-ag1969

You like hockey, give gifts about hockey, build hockey rinks and married a woman who loves hockey.

I knew I liked you for a reason, but I can't quite put my finger on it

Silver66

brad_pitts_betterlooking_brother's picture

yeah he is

but just not today.

he even admits to not knowing exactly when or knowing exactly how much PM's china now owns.   but when 'they' are ready - PM's will be set free  (my opinion maybe not free, but more free than now at least.)

pforth's picture

Rickards was the lawyer for LTCM...

Rickards was the lawyer for LTCM back in the 90's.  I believe he was the guy on the other end of the phone with Bill Murphy denying that LTCM had anything to do with gold.  There is a lot of speculation however that LTCM was ALL about gold.  That it was the beginnings of the gold cartel and Rickards was the public face of the cover up.

Karankawa's picture

Disappointed about PM's?

I wonder if Ben is a little perplexed that after guaranteeing demand for Treasuries, the 10 year rate is UP the next day 1.5%+ and the major stock indices are lackluster?

Pairadimes's picture

It's the FED

It's the FED not the bullion banks.  I've had an epiphany and I'm ashamed to say that until this sell off I have been thinking that the Banking Cartel was the source of all evil and I truly didn't include the Fed as the prime driver of the machine.  Yesterday changed that illusion for me.  It's now obvious.  The Fed  is the guarantor of all realized losses using their printing press........they have assured the banks that any losses incurred from shorting gold/silver will be fully reimbursed with public money.  The price of PM's will be what the Fed says it will be using unlimited amounts of money to manipulate it accordingly.  There is no free market......never has been.  They move the price at their discretion without concern of short squeeze losses.  This will continue until it doesn't.    I see this going on for several more years.  It will only end when the petrodollar is no more.  At that time the price of PM's will reset upward, but only so far as the new master will allow.

delacroix's picture

TERP

I'm on ometepe island in nicaragua right now, and I can attest to the inconvenience a swarm of gnats can be for a motorcycle driver.

Hondo's picture

I thought

We signed up for a hat contest yesterday not an ass kickin!

Just saying! Starting to feel a little chaffed

Bollocks's picture

silver66 ... ag1969

I think it's something to do with hockey. I kid you not.

 

luv2stak's picture

Groaner-- love to believe that 'silver high' story...

but wasn't that (very brief) 1980  high in silver due to the Hunt brother's temporary manipulation of the silver market?

And when the margins were raised, didn't they lose almost everything--like millions and millions-- and then the price of silver dropped like a stone and has stayed well below $50 ever since? (except for a brief-and-shining-moment in 2011...) 

I remember because -- my Mom quickly and gleefully sold the ancient family silver tea set at the very height of it --

and was very smug when it dropped again... ( tons of gorgeous antique silver got melted down that year...) 

so why do people keep coming back to that temporary, manipulated figure to compare a 'realistic' price of silver to today?

huiaid's picture

I am pissed!!!

And just bought 50 Maple Leaf silver coins to screw JPM by removing some physicals from the market......

Woody Mornings's picture

"I Couldn't care less"

@Turd

Well said.........SERIOUSLY, I hate it when people incorrectly say "I could care less."

In other news (probably old news for most here).........I've just discovered Walter Burien and his information regarding Comprehensive Annual Financial Reports.  Anyone care to shed some light on this for me and point me in a direction where one can wrap one's mind around deciphering theses CAFR's

I would like to know more about our country's investments and total net worth.  

Jason Foster's picture

Deja vu

The great satan whacks the metals again

Mickey's picture

could not control myself

bought some OTM SLV calls expiring next week.

I fI had guts though I  would  buy some for tomorrows expiry.

the 32's are at 4 cents-recover todays beating and you have a 10 bagger-long odds though.

throw $500 bucks into trade-and if it happens I could buy 5 tubes of 2013 ase

PhyzEd's picture

'Sup turdites.. some juicy info to noodle.

Note the last part: 
 
"The changes also allow databases of U.S. civilian information to be given to foreign governments for analysis of their own. In effect, U.S. and foreign governments would be using the information to look for clues that people might commit future crimes."
 
He is not wasting any time.
 
 
Oh and I caught an inside tip I'm going to share.. Metals markets along with miners will be all up-hill after  new years.. take it or leave it. yes
stealthbear's picture

@luv2stack

If I remember correctly, it wasn't necessarily a margin increase that caused the price of silver to drop "like a stone", it was the fact that one day the exchange changed the rules and NO one was allowed to buy silver to establish a new position.  The only people who were allowed to place buy orders were those who were short and wanted to close out their positions.  Neat trick!

Pining 4 the Fjords's picture

Just a reminder

There was once a time when we actually made and shipped stuff.  Who would've guessed?

Road_Scholar's picture

Stacked!

On days with -$1.00 silver, I try to cheer up the PM fraternity!

3145hsx.jpg

ag1969's picture

@Bollocks

Despite your propensity to "gay things up", please try to leave me out of it!  LMAO

tobydaniel's picture

Ready for another round of consolidation?

Monex called me yesterday before the Fed was about to talk and tried to get me to buy silver from them. I told them that silver would drop regardless of what the Feds would say. Though I am wrong a lot, I called this one from looking at history. I told him that silver has been up only 3 dollars since the Feds implemented QE2 back in November 2010. I asked him why would it go any higher with QE. We left it at that. Just comes to show that folks are misinformed when it comes to QE. QE only hurts the metals. Why you may ask? Because the banks know that people like us that like gold and silver are banking on QE. What a better physiological beating can you administer on the people that like gold and silver by imploding the price on the very days that QE gets announced. Im very skeptical about next year. I dont see any catalyst to propel gold or silver higher. You may think thats a crazy statement but all you have to do is look at what happened yesterday, and last September and operation twist. If these three things could not propel silver higher, we are SOL. Supply on the other hand is our only hope.... but not next year. These crooks are not out of bullets. Anyone who thinks these bankers out out of bullets have not studied history. They can kick the can down the road for a much longer timeframe than we think. Anyways, like always, I hope Im wrong. I really do.

ag1969's picture

Road Scholar.....

Is in the house!

SilverDog66's picture

@Turd and Turdville

Just to update on the Andy Maguire service. I signed up on this service but after a look through his past feed soon realized i was a fish out of water! If people here are considering the service, its only for serious professional traders (yes i was told this before but ignored it, silly me!frown) It basically was another language if that makes sense. Anyway, Paul from Colghan Capital recognized i was unexperienced and thankfully just swapped me onto his daily analysis/videos. I've been following his videos and webinars for a week now, also looking at past videos which are absolutely excellent. I cant stress enough how amazing his techniques work! He teaches only to trade very high probable trades and if that means you have one trade every other day then so be it! My view is changing rapidly on trading from fundamentals and technical to just technical, especially with Gold and Silver. 

The setup has been a little costly, $100 for the daily analysis. $60 for ensign charting software and about $200 for live data feed. I'm taking this trading very seriously and am trying to follow everything Paul teaches, even though i still have one or two bad habits that i need to put a stop to. 

So to conclude i can vow for Turds advice that these guys know how to trade and make money. I know I've only just started but am very confident in 2013 i will make some fiat to exchange for real money, Gold and Silver! 

I will keep Turdville updated in 2013 if the turdites are interested. 

P.S I hate to say this being a long term stacker, but last night just before the raid I saw a change in behavior (using Pauls charts) and shorted Gold. 

Edward G's picture

BB

So "BB" won the hat huh?   I call foul!   I have this vision of Benny gleefully trying the coveted item on after  an evening of carefully steering the price to his guess..

(To the real turdite BB, only joking, well done to you x)

A1Topgun's picture

The Queen

@rocoach

Is checking her TUNGSTEN ! ! !

SubjectivObject's picture

This realization needs to be

This realization needs to be spread far and wide.  I too believe that this is the source of support for the short interest and is the context for precious metals pricing.  Every option outside the system to separate the physical price from the paper price must be explored and developed.

It's the FED

It's the FED not the bullion banks.  I've had an epiphany and I'm ashamed to say that until this sell off I have been thinking that the Banking Cartel was the source of all evil and I truly didn't include the Fed as the prime driver of the machine.  Yesterday changed that illusion for me.  It's now obvious.  The Fed  is the guarantor of all realized losses using their printing press........they have assured the banks that any losses incurred from shorting gold/silver will be fully reimbursed with public money.  The price of PM's will be what the Fed says it will be using unlimited amounts of money to manipulate it accordingly.  There is no free market......never has been.  They move the price at their discretion without concern of short squeeze losses.  This will continue until it doesn't.    I see this going on for several more years.  It will only end when the petrodollar is no more.  At that time the price of PM's will reset upward, but only so far as the new master will allow.

Be Prepared's picture

Benny Explains QE.... it's bound to come out the other end....

silvercity's picture

this volatility is too much for me.

We are obviously in a currency war right now.  Since I am only a stacker I think that it is best to check the markets only once per month.  I just can't seem to take my own advice.  Watching the silver market is pointless for the stacker unless you are looking to buy a dip.  Time to take a nap.  

babaganoush2307's picture

@ Silvercity

Yeah gold and silver and USD are definitely in a currency war right now for sure!

Pairadimes's picture

I absolutely concur......PM

I absolutely concur......PM prices will not increase by more than a few percent over the next year.  The Fed will spend unlimited amounts of money to short PM's as necessary in order to maintain the price.  The sheeple must not be encouraged to hold PM's.  This will not change unless and until the use of dollars as the world's reserve currency comes to an end.  That's the only thing that will appreciably reset the price of gold.

Bollocks's picture

ag1969

****

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