Cutting Vacation Short

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:

And here's someone who has noticed some of the same "anomolies" that I have:

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.


About the Author

turd [at] tfmetalsreport [dot] com ()


Feb 21, 2013 - 6:12am

its not trash tak

did your dad say pay more thantop dollar - turdsblog makes u pay top dollar sheeple. trader dan is a lot smarter with no agenda.

Feb 21, 2013 - 5:55am


I find it interesting that the trolls come out when metals are downtrending. We have not seen certain avatars here in a while until last night, but interestingly, here they are again. I have wanted to give everyone the benefit of the doubt, but the lack of participation in this ongoing conversation until metals are heading down is telling. Many others simply seem to want to say "see, I told you so." Do I need to be told that metals went down this past week? Go away until you have something helpful to post.

And then there are the hired geeks who are employed to haunt a dozen or so discussion boards at a time, sitting in run down offices at used desks, reading, learning, posting, just so they can troll and bash on days like this. I am sorry that you cannot find better employment than to tell lies for a living. I hope you learn here on a PM board that the world is in a financial mess and you ought to be stacking and prepping with your mercenary troll wages.

The trash talk does not discourage me. I will continue to hold metals and put any extra fiat I earn where it will do some long term good for my family. I will trade in the metals for good land when the day comes.

Feb 21, 2013 - 5:53am

I love dollars and so do you.

When the lives of millions and millions of people depend on something working, you can bet your ass that anything will be done to keep it working.

I'm referring to the Federal Reserve System and the notes/dollars they provide.

I use them every day. I wish I had more. The more I have the happier I am. I love them.

I know a lot of people here feel the same way. We hope the price of PM's goes to the MOOOON, so we can have more dollars.

Don't be pissed, outraged, surprised, etc. when "they" do what they do to keep the System alive. Because millions of lives depend on it.

The System is waaaaay to big to fail. No matter how flawed and abused it is.

Yes I know all paper currency has failed in the past. All the other paper currencies that failed in the past did not have the modern day military fire power that we have to help negotiate.

Feb 21, 2013 - 5:53am

I can't really speak for

I can't really speak for Mannarino, but he seemed to be suggesting selling your paper and buying gold, silver and other hard assets--land maybe? Either that or just holding cash till the stock market tanks and then by back in when they reach an undervalued state. I'm not a trader, I just stack. I just thought some people might find the video as entertaining as I did.

Feb 21, 2013 - 5:53am

Today's silver action

Looks like we will travel below 28 for silver today. I just don't see any recovery on charts. Trader Dan is right all speculative money left the PM market right now. Cause big boys making good profit on stocks.

Feb 21, 2013 - 5:47am

What's Schiffs current call?

What's Schiffs current call? Anyone care to give a link or just short summary?

In regards to all the muppets and trolls. F you!!

Turd put up this site because he thinks our economy is going down the drain and so other people with the same believes could meet and discuss. If you don't agree fine, but don't spend time crticizing us or Turd. How old are you guys anyway? Grow some balls and take responsibility for your choices and don't blame others for investments that you judge as mistakes.

Feb 21, 2013 - 5:34am

@DPH: interesting article,

@DPH: interesting article, but I have one little caveat.

You quoted this: "With head-spinning speed, these gold-seekers created one of the most extraordinary societies in history -- hard-driving, overwhelmingly male, often brutal."

There is some evidence that the brutality was not as great as is generally believed and that belief is more a product of dime novels and movies than reality. The reality was that there were fairly sophisticated systems of dispute resolution, developed in an almost complete absence of government courts and state law. These myths are perpetuated by those who have a vested interest in the idea that humans are incapable of organizing society without a structure of coercive state power.

Feb 21, 2013 - 5:27am

@Green Lantern re Peter Schiff

Look at Schiff's last two major calls - the tech bubble and the the housing bubble. He was more than a year early on both. But he was absolutely correct on both. Give it a little time and he will be correct again.

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