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

About the Author

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

  548 Comments

  Refresh
Stratajema
Feb 20, 2013 - 8:19pm

I am so hopeful...

for the $1,400s in gold and the low $20's in silver. By then it will have to be physical backed paper that I buy (e.g. PSLV, CEF) because the supply of physical coins will be gone or withdrawn by the coin dealers.

It is possible the Chinese are behind this smash because they need to buy tons and tons of gold. The downward trend is feeding on itself because of margin calls... that is how we get to the $1,400s. So glad I stopped listening to KW News back in 2011, otherwise I would have been suckered in at a much higher price.

jolidacrown
Feb 20, 2013 - 8:18pm

Opinion Only ...

Gold bottoms at 1509 by Friday.

eeaton
Feb 20, 2013 - 8:17pm

Bought More Maple Leafs

Just to feel better I bought a few rolls of Silver Maples Leafs, keep stacking!!

Bollocks
Feb 20, 2013 - 8:14pm

@philipat

Indeed.

Most of the trolls live in our own mind. We allow them in and they stay there until we realise they're imposters. Their power comes from injecting doubt. It works for them because we haven't realised the difference between looking and thinking.

Thought is doubt. Looking, free of thought, without drawing a conclusion, is now. This moment, now. There's no space for any trolls to appear now, they all exist as thought - doubt, the past.

Bollocks
Feb 20, 2013 - 8:05pm

@Boswell

"it's more mentally healthy to abruptly end a conversation with someone obnoxious than to continue speaking with them"

Yes. Yes. Yes.

Ye gods, it took a study to find that out. God knows how long it took them and how much it cost.

Jeez, nobody has any self-knowledge do they? Nobody learns from their own experience nowadays. It's all "let's test what's in front of us" and draw a conclusion after exhaustive study, much of which will be bent according to some agenda.

Nobody is allowed to realise that they are the master of their own life. Drawing attention to that is strictly not allowed. So we all live in doubt and have to run exhaustive experiments on others to draw a conclusion - which has not one iota of self-knowledge, drawn from self-observation, in it.

No wonder everyone is so desperate.

Discovering who I really am is outlawed, removed from consciousness as quickly as possible after birth by the unconscious mind-control machine. Who I really am is replaced with a doubting self that can be controlled because of the fear that arises from that doubt.

Isn't that true?

philipat
Feb 20, 2013 - 8:05pm

@Bollocks

Hence the ancient wisdom "Don't feed the Trolls"?

philipat
Feb 20, 2013 - 8:03pm

@DPH Sequestration

In response to the earlier discussion, depressingly, I think you will find that even sequestration is not an actual CUT, but simply a reduction in the rate of the (Out of control) increases already budgeted. The word "CUT" doesn't actually exist in the DC Dictionary.

I have never seen ANY Organisation, even in the Private Sector, where a 10% CUT in spending cannot be achieved with minimal pain (And another 10% with only moderate pain), just by eliminating waste. But this is Government.............................

atomic180
Feb 20, 2013 - 7:57pm

Flatline...

monkeys take lunch...

kingboo
Feb 20, 2013 - 7:55pm

Thanks PMBull

learn something new everyday........

PMBullkingboo
Feb 20, 2013 - 7:50pm

@Kingboo - Globex is closed

@Kingboo - Globex is closed for that brief period each day. Kitco charts flatline there as well. Others gap during the period.

Subscribe or login to read all comments.

Contribute

Donate Shop

Get Your Subscriber Benefits

Private iTunes feed for all TF Metals Report podcasts, and access to Vault member forum discussions!

Key Economic Events Week of 5/25

5/26 8:30 ET Chicago Fed
5/26 10:00 ET Consumer Confidence
5/27 2:00 ET Fed Beige Book
5/28 8:30 ET Q2 GDP 2nd guess
5/28 8:30 ET Durable Goods
5/29 8:30 ET Pers Inc and Cons Spend
5/29 8:30 ET Core Inflation
5/29 9:45 ET Chicago PMI

Key Economic Events Week of 5/18

5/18 2:00 ET Goon Bostic speech
5/19 8:30 ET Housing starts
5/19 10:00 ET CGP and Mnuchin US Senate
5/20 10:00 ET Goon Bullard speech
5/20 2:00 ET April FOMC minutes
5/21 8:30 ET Philly Fed
5/21 9:45 ET Markit flash PMIs for May
5/21 10:00 ET Goon Williams speech
5/21 1:00 ET Goon Chlamydia speech
5/21 2:30 ET Chief Goon Powell speech

Key Economic Events Week of 5/11

5/11 12:00 ET Goon Bostic speech
5/11 12:30 ET Goon Evans speech
5/12 8:30 ET CPI
5/12 9:00 ET Goon Kashnkari speech
5/12 10:00 ET Goon Quarles speech
5/12 10:00 ET Goon Harker speech
5/12 5:00 ET Goon Mester speech
5/13 8:30 ET PPI
5/13 9:00 ET Chief Goon Powell speech
5/14 8:30 ET Initial jobless claims and import prices
5/14 1:00 ET Another Goon Kashnkari speech
5/14 6:00 ET Goon Kaplan speech
5/15 8:30 ET Retail Sales and Empire State index
5/15 9:15 ET Cap Ute and Ind Prod
5/15 10:00 ET Business Inventories

Key Economic Events Week of 5/4

5/4 10:00 ET Factory Orders
5/5 8:30 ET US Trade Deficit
5/5 9:45 ET Markit Service PMI
5/5 10:00 ET ISM Sevrice PMI
5/6 8:15 ET ADP jobs report
5/7 8:30 ET Productivity
5/8 8:30 ET BLSBS
5/8 10:00 ET Wholesale Inventories

Key Economic Events Week of 4/27

4/28 8:30 ET Advance trade in goods
4/28 9:00 ET Case-Shiller home prices
4/29 8:30 ET Q1 GDP first guess
4/29 2:00 ET FOMC Fedlines
4/29 2:30 ET CGP presser
4/30 8:30 ET Pers Inc and Cons Spend
4/30 9:45 ET Chicago PMI
5/1 9:45 ET Markit Manu PMI
5/1 10:00 ET ISM Manu PMI

Key Economic Events Week of 4/20

4/20 8:30 ET Chicago Fed
4/21 10:00 ET Existing home sales
4/23 8:30 ET Weekly jobless claims
4/23 9:45 ET Markit flash PMIs
4/24 8:30 ET Durable Goods

Key Economic Events Week of 4/6

4/8 2:00 ET March FOMC minutes
4/9 8:30 ET Producer Price Index
4/10 8:30 ET Consumer Price Index

Key Economic Events Week of 3/30

3/31 9:45 ET Chicago PMI
4/1 8:15 ET ADP Employment
4/1 9:45 ET Markit manu PMI
4/1 10:00 ET ISM manu PMI
4/2 10:00 ET Factory Orders
4/3 8:30 ET BLSBS
4/3 9:45 ET Market service PMI
4/3 10:00 ET ISM service PMI

Key Economic Events Week of 3/23

3/24 9:45 ET Markit flash PMIs
3/25 8:30 ET Durable Goods
3/26 8:30 ET Weekly jobless claims
3/27 8:30 ET Personal Inc and Spending

Key Economic Events Week of 3/9

(as if these actually matter)
3/11 8:30 ET CPI
3/12 8:30 ET weekly jobless claims
3/12 8:30 ET PPI
3/13 8:30 ET Import Price Index

Recent Comments

by robobrewer, 10 min 29 sec ago
by H8Fiat, 10 min 39 sec ago
by GoldHermit, 25 min 19 sec ago
by Hubster, 40 min 53 sec ago
by RickshawETF, 47 min 22 sec ago
randomness