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 - 5:22am
Erewhon888Puck Smith
Feb 21, 2013 - 4:39am

@ Puck T Smith re Ivar's assertion re credit/debt/barter/gold

You asked for a reference. The answer would be David Graeber's book titled "Debt" which is an anthropologist's take on monetary economics that rejects the usual economist "barter - commodity - gold" transition. Well worth having on your bookshelf.

Just A Regular Guy
Feb 21, 2013 - 4:13am
Feb 21, 2013 - 3:54am

Turd/JustAnotherLurker -

Turd/JustAnotherLurker - where did you get the first chart in ?

Would be interested to see March's, worked as an indicator of the range they were gunning for last time I believe...the eternal optimist in me looking at this maybe being the end, or at least the brunt of, if they've reached down as far as is profitable for them...

Feb 21, 2013 - 3:29am

food for thought

I was watching this as I went to bed...... Hope you like it. My girl doesnt.

Stories from the Great Depression


Feb 21, 2013 - 3:23am

Still seeing flat part of graph

I whole heartedly know deep in my heart with 103% certainty that the price of gold, and silver especially, are still in the "flat" part of the graph. The mania phase will make today's volatility insignificant and negligible.

The plan is eventually the coin shops, pawn shops for gold scavengers etc. will beg and pay *me* the the damn premium of fiat Chuck-E-Cheeze game tokens so I can play the bankster denominated games with all the massive amounts fiat toilet paper it will take to convince me to sell my precious silver dime.

I can even foresee me even paying a Walmart cashier in silver coin and she/ he would scramble to pay it with her own fiat out of her own pocket so she can keep and take the precious silver dime home to her family hyperinflation proof!

Think about it. Why pay hundreds of dollars for,say, a tube of toothpaste or for a hamburger when it only costs one damn silver dime? Now that's what I'm talking 'bout folks!

Feb 21, 2013 - 3:05am

P.S. Turd's mention of KWN

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.

Fuck you. Eric King isn't a bandwagon hopper and he does not do this for money. He ran his site a long time for free, never opened his site to ads, and about the sponsoring from mining companies, you can say that you'd wanna buy those anyway because they're companies with great value. KWN doesn't even accept donations from its audience. They say no to your money if you offer it!

That all in great contrast to a site called TFMetals, which is fucking loaded with ads, has a store, asks for donations regularly, and only came into existence in the first place during the metals rally following QE2, fed off the mania that existed for a couple of months back then, made a few lucky calls, and never really had anything to offer besides that.

It has the gold and silver price conveniently displayed on the right frame, which is the main reason why I visit. Some of Turd's interviews are worth listening to, and sometimes there are good links posted. And KWN is a little perma-bullish, which may be annoying to some. But, KWN is the original PM interview site, everyone else copied Eric King, and he deserves the praise for what he started, noone else. And he still has the best guests and the best interviews and that makes the site invaluable and must-read for anyone serious about investing in PMs. Don't crap on KWN, especially not on a (comparatively, and literally) Turd of a website like this. Just don't.

Feb 21, 2013 - 2:48am

re: Gold fishing in France

Imagin the toilet it would take to flush that bad boy down...

Feb 21, 2013 - 2:48am

re: Gold fishing in France

Imagin the toilet it would take to flush that bad boy down...

Feb 21, 2013 - 2:08am

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