Cutting Vacation Short

548
Wed, Feb 20, 2013 - 10:04am

This is relentless and unforgiving...and I'm not talking about MrsF.

So bad that I'm cutting my mini-vacation short. I still don't have time for a full post so here are two items for you to read this morning.

ZH has been doing an excellent job chronicling the consistent, daily destruction. Here's the latest: https://www.zerohedge.com/news/2013-02-20/precious-metals-morning-slam-right-schedule

And here's someone who has noticed some of the same "anomolies" that I have: https://www.zerohedge.com/contributed/2013-02-20/curious-case-falling-gold-and-silver-prices

The charts, of course, look terrible. Having failed at hoped-for support, silver looks like $28 and gold, if $1580 fails, looks headed all the way back to the bottom of the 18-month range, near $1550.

This is all highly unusual and indicative of extreme manipulation and panic-level positioning. At the risk of sounding trite and reading like another KWN pumper, I must say it: THIS WILL PASS. THESE EXTREMES WILL BE RESOLVED SOON AND NEW UPLEGS WILL BEGIN. PLEASE BE PATIENT. THE FUNDAMENTALS ARE STRONGER THAN EVER AND PHYSICAL REALITIES WILL SOON REPLACE PAPER SHENANIGANS AS THE DRIVING FORCE BEHIND PRICE.

More later if possible.

TF

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turd [at] tfmetalsreport [dot] com ()

  548 Comments

Green Lantern
Feb 20, 2013 - 10:05am

foist?

foist?

Dr G
Feb 20, 2013 - 10:09am

yaay

I'm hoping we don't drop much further here, but all signs tell me that we will dip lower. Maybe $1575 or lower eventually for gold and $28.30ish for silver at some point in the near future? My stack is large enough, so I'm still not a buyer here.

I don't disagree with Turd that the fundamentals are strong. But I'm a firm believer that the spot price has no basis in reality and therefore no basis on fundamentals. We know this after years of watching this play out. We should not be surprised as the prices continue to drop lower and we feel the fundamentals are only increasing in bullish nature.

In other words, the PRICE of silver may drop, but that does not correlate to the VALUE of silver.

P.S. Turd's mention of KWN reminded me that I haven't visited that hell-hole of a site in the past 90 days, and it's been the best 90 days of my life. What a waste of time.

OC15
Feb 20, 2013 - 10:10am

Thurd?

Yes? YES!

Fr. Bill
Feb 20, 2013 - 10:11am
tyberious
Feb 20, 2013 - 10:12am

We'll

See if they can shake some of these silver contracts!

philly
Feb 20, 2013 - 10:12am

4th

4th today feels like 4th and goal from the 50 yard line!!

ag1969
Feb 20, 2013 - 10:12am

Wow

These guys are getting desperate. There must be some pissed off coin dealers and miners today.

6th Amendment

In all criminal prosecutions, the accused shall enjoy the right to a speedy and public trial, by an impartial jury of the State and district wherein the crime shall have been committed, which district shall have been previously ascertained by law, and to be informed of the nature and cause of the accusation; to be confronted with the witnesses against him; to have compulsory process for obtaining witnesses in his favor, and to have the Assistance of Counsel for his defense.[

sethleon Dr G
Feb 20, 2013 - 10:14am

I think what Turd is hinting

I think what Turd is hinting at is that something epic and historical is about to happen in the market. This isn't the usual "chin up, prices will recover" speech. He must have heard some sort of insider information.

TD
Feb 20, 2013 - 10:14am

Somehow on topic

NAPLES, FL—Describing it as a “real close call,” a local seagull suffering from an acute case of diarrhea told reporters that he was barely able to make it to a crowded public beach in time to relieve himself Monday. “Oh, man, I really had to go and there wasn’t a sunbather or occupied picnic table in sight—I honestly didn’t know if I could hold it,” said the gray and white seabird, who reportedly uttered a deep, contented sigh of relief upon finally reaching a densely packed group of beachgoers and releasing a voluminous torrent of loose fecal matter. “The last thing you want is to just go right there over the water or a bare stretch of sand. But thankfully I spotted a few families without beach umbrellas and was able to make it just long enough. Must have been some bad parking lot hot dog I ate.” At press time, the seagull reportedly felt another oncoming, urgent bowel movement and was rapidly racing toward the nearest convertible.

https://www.theonion.com/articles/seagull-with-diarrhea-barely-makes-it-to-crowded-b,31354/?ref=auto

tmosley
Feb 20, 2013 - 10:16am

If it doesn't resolve, the

If it doesn't resolve, the market will break and physical will finally diverge from paper. Physical will reset to a value that few would believe today, just like they never would have thought that a dollar's worth of silver would be worth $50 a mere 16 years after they stopped minting silver coins in the US. Only this will happen faster, as the "dollar" in this case isn't even a dollar, but just fraudulent quasi-receipts.

This is why I don't want the paper silver price to rise. That would at best quadruple my purchasing power over the next couple of years. My scenario resets my purchasing power upwards by orders of magnitude.

This is the inevitable result of market manipulation. And the longer they try to keep the market manipulated, the greater the reward. This instance is probably the greatest example of market manipulation in human history.

The path to the new oligarchy is not an easy one. Simple, but not easy.

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