The Cremation of 2013

165
Mon, Dec 30, 2013 - 1:15pm

* With sincere apologies to Mr. Robert Service

There were strange things done by fluorescent sun

By the Federal Reserve of old

From Treasury pops to secret swaps

That would make your blood run cold

The Wall Street nights have seen strange sights

But the strangest ever, I’m told

Was that year, oh so mean, known as twenty thirteen

When they crushed the price of gold.

.

Now their program of easing had started a’wheezing

It was growing stale and weak

And they needed QE to infinity since

The economy was bleak

But they knew without doubt if they started to shout

“We’re full-on monetizing!”

They’d see interest explode and the US debt load

Would foil all their devising.

.

But the chairman stayed cool, he was nobody’s fool

So he didn’t shout or holler

He knew that if he could make gold sell-off

It would hide the foundering dollar

So he issued his orders to sell across borders

And the bullion banks complied

And they sold. And they sold. Paper mountains of gold

And the market recoiled at the tide.

.

But at some point that paper, despite rumors of taper,

Was a promise to deliver the metal

And the Chinese could see opportunity

And they bought those contracts to settle

Yes, the lower it got the more strongly they bought

For to ship it to the Swiss

To be quietly cast into kilogram bars

Before people noticed something amiss.

.

Meanwhile, as price was jolting down,

The banks called up the Fed.

“She canna’ take much more of this, Chairman!

When our gold is gone, we’re dead!”

The Chairman, nonplussed, assured “What’s the fuss?

You can raid the GLD.

Plus we’ll sell from OUR vault to avoid a default

But to manage perception is key!”

.

The banks weren’t assured. They proclaimed “That’s absurd!

Folks will know all those tons came from you!”

But the Chairman’s reply, with a wink of his eye,

Would mollify all but a few:

“We’ve the press on our side, and not to be snide,

But they’ll write whatever we tell them.

Just peddle some tale about the end of the bull

And if people have metals, to sell them.”

.

So gold and silver sold off, and the analysts scoffed:

Falling prices prove dying demand.

But all the while certain buyers just smiled

And that metal was bought with both hands.

.

At the end of the year Fed success was clear

With the metals near multi-year lows

And there were no audits, and the Chairman got plaudits

For his “brilliant” tapering pose.

As prepared to retire, the Chairman

Was feted and praised for stock’s gains

And the bankers got paid, politicians got laid,

Life was good in the land of Keynes.

.

But something was brewing, far over the seas

Dark rumors of debts to be paid

Of currency changes and metals exchanges

And the gold-backed settling of trade

Of six thousand tons imported to China

Or is ten a bit closer-on?

With some privately thinking “The dollar is stinking,

I wonder how it stacks with the Yuan?”

.

T’was the final day of the Chairman’s reign

His great retirement bash

And every financial tycoon would be there

To toast him (and his free cash)

But the Chairman just couldn’t shake the feeling

Of something weighing on his mind

So impetuously, he’d chosen, before it was frozen

To use his clearance one last time.

.

He phoned, scratched his beard, then the copter appeared

And whisked him to the gates

He showed his ID for the guards to see

And they shuttled him past the grates.

“Wait here” he said to the watchman inside

“I’d rather go on alone”

And he stepped cautiously, while he fished for the key,

‘Cross the slate-gray quarried stone

And with naught but a lantern, he swung wide the door

And the stale air blew past his face

And he willed his hand to raise the light

For to gaze on his private disgrace.

.

The vault was old. It was empty and cold

As bleak as the march of Sherman’s.

There were just a measly 200 tons left

And he owed that to the Germans.

The chairman shivered. It had all been delivered

To settle accounts and the score

And he searched in the quiet and could not deny it

The once great hoard was no more.

.

And to his surprise, he felt starting to rise

A sense of deep dread like a squall

And he thought, in confusion, “Wasn’t this Keynes conclusion?

That this shouldn’t matter at all?”

In the darkness he shouted at his partners in crime

“What of you, Mr. Greenspan? Or Burns?

What of you, Chairman Eccles? Or you, Chairman Miller?

At dis-hoarding, we ALL took our turns!”

But his voice merely echoed through the cavernous vaults

And it sounded a lot like a tomb.

Then the Chairman did see what his legacy would be…

And he quietly left the room.

.

There were strange things done by fluorescent sun

By the Federal Reserve of old

From Treasury pops to secret swaps

That would make your blood run cold

The Wall Street nights have seen strange sights

But the strangest ever, I’m told

Was that year, oh so mean, known as twenty thirteen

When the last of the wealth was sold.

About the Author

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Lamenting Laverne
Dec 31, 2013 - 10:03pm

@ Bugz - Birds

Are you in Europe at present? If so, the birds could very well be Rooks (Corvus frugilegus) and not Crows. They behave as you describe in the late fall. We have many back home. They make me think of Valhalla and Norse Mythology, when they really get going.

But they are not native to Northern America according to Wiki, so if you are across the pond still, I don't know.

dgstage
Dec 31, 2013 - 9:56pm

Bugzy

I do not think the end of times are here. I do think there are strong evil forces that are trying to come to reality. It will take all the good to over power. BTY all the storm clouds in Texas are dissipated by chemtrails and that just messes with our heads and health even more.

dgstage
Dec 31, 2013 - 9:55pm

Bugzy

I do not think the end of times are here. I do think there are strong evil forces that are trying to come to reality. It will take all the good to over power. BTY all the storm clouds in Texas are dissipated by chemtrails and that just mess with our heads and health even more.

Bugzy
Dec 31, 2013 - 9:42pm

Apocalyptic?

I was out and about and noticed some really big storm clouds coming over and a lot of black crows. I mean a lot; maybe 5000. They occupied every leafless tree and roof top and electrical wire for as far as the eye could see. Then they would start flying in circles and the whole sky turned black with them; the noise of their crowing was so loud you had to almost shout to be heard.

All very Alfred Hitchcock.

If there ever was an "Omen" for the end of times, it would probably look something like this. It was getting dusk on the last day of the year.. and it looked pretty freaking odd.

Let's see what 2014 brings. Maybe worth placing a bet on end of times... ROFLMAO - imagine trying to collect?

Groaner
Dec 31, 2013 - 9:27pm

Dan Norcini is on the dark side for sure

Anyone read his gloating over today's action?

i am done with him and his "no way is the market manipulated view "

I want to puke ., I posted some serious questions on his site which if course he would not post and answer.

Casting pearls before swine

alan2102bullion only
Dec 31, 2013 - 9:26pm

bullion only

"They would all have been right in an un-manipulated market"

If they all KNOW that it is a manipulated market, as they do, and that the manipulators are VERY powerful entities with essentially unlimited resources, as they also know, then why don't they account for that in their predictions? Why not make predictions based on the knowledge that the manipulation is very very likely to continue for the coming year, rather than endlessly predicting that it is going to blow up any month now?

Key Economic Events Week of 8/10

8/10 10:00 ET Job openings
8/11 8:30 ET Producer Price Idx
8/12 8:30 ET Consumer Price Idx
8/13 8:30 ET Initial jobless claims
8/13 8:30 ET Import Price Idx
8/14 8:30 ET Retail Sales
8/14 8:30 ET Productivity & Unit Labor Costs
8/14 8:30 ET Cap Ute and Ind Prod
8/14 10:00 ET Business Inventories

boomer sooner
Dec 31, 2013 - 8:36pm

Do not know if covered. From

Do not know if covered.

From Harvey.

"The total gold comex open interest fell today by 3 contracts from 381,539 down to 381,536 as gold was down $11.00 yesterday."

I believe this is the first time in a long time open interest declined on a down day, gold or silver. Open interest usually increases on down days?

bullion only
Dec 31, 2013 - 8:27pm

Best post of the year!

That was IMO the best post of the year.

They would all have been right in an un-manipulated market and this is not one of them.

As I believe Bill Holder said last night. "This manipulation will go on until the comex fails to deliver to someone, anyone. Then it will be over."

RT

cpnscarlet
Dec 31, 2013 - 8:21pm

Prediction Calendar 2013

Hello Turds -

I just had to stop by the old joint to post this...

This used to be a whimsical undertaking, but today it's a post of horror - Here's my last page of notes from my 2013 calendar:

RICK RULE Dec '12 - "2013 A banner year for Au/Ag" WRONG

TURD Dec '12 - "Takedown was last desperate move by Cartel before a huge 2013" WRONG

Craig Paul Roberts/Celente - "Bonds Away 2013" Bubble Collapses WRONG

Egon Von Greyerz - "2013 is the end of Japan" Hyperinflation. Large move in Au. WRONG (or did he mean move down?)

Bill Murphy - "Silver to 100" WRONG

Dave from Denver - "A very happy year for anyone aggressively invested in PM/Miners" WRONG

James Howard Kunstler Jan 13 - Au to 2500 Ag 125 WRONG

Byron Wein - 2013 Ag 1900 WRONG

Ned Naylor Leyland - SILVER MANIPULATION GOES MAINSTREAM IN 2013 - KIND OF...

Alf Field - "Au spectacular year in 2013" WRONG

Steve Leeb - "China lets gold fly in 2013" WRONG

Mark Grant - "Greece goes bankrupt in 2013" WRONG

James "The Jerk" Turk - "2013 a great year for silver" WRONG

Steve Leeb - "Major bottom was in the end of 2012" WRONG

Sprott Mar '13 - "Gold at new highs by August" WRONG

John Embry May '13 - "Bull market will resume in fall if not sooner" WRONG

Farber August '13 - "S&P closes 2013 at 1360 or worse" WRONG

Egon Von Greyerz Aug '13 - "Massive move to the upside this autum and in 2014" WRONG SO FAR

TUrk the Jerk again Aug '13 - "Gold at 1675 by the end of 2013" WRONG

Ron Rosen Sep '13 - "After 2nd low in Oct, gold and silver dramaically higher" WRONG

Alasdair MacLeod - "Currency crisis this winter" WRONG

SO WHAT DO WE DO WITH THIS?

Are all these PM pundits wicked liars? Possible, but not probable. I would dare say we haven't been "taken in" by charlatans, but we have all been the victims of our own common sense. We know what the lessons of history are, but they just aren't working...yet. We are under the velvet-lined boot on central planners and psychopaths. They have the press and the power of fiat...for now. How much longer this can go on is anyone's guess.

Here's to a better 2014.

Dec 31, 2013 - 8:05pm

@ Gold Dog

Curiously, I resolved to use MORE vulgar language. We'll balance out! Hope you have a pleasant and peaceful New Year. You ol' bitchslapping ballbusting cankerous whoreson you.

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Key Economic Events Week of 8/10

8/10 10:00 ET Job openings
8/11 8:30 ET Producer Price Idx
8/12 8:30 ET Consumer Price Idx
8/13 8:30 ET Initial jobless claims
8/13 8:30 ET Import Price Idx
8/14 8:30 ET Retail Sales
8/14 8:30 ET Productivity & Unit Labor Costs
8/14 8:30 ET Cap Ute and Ind Prod
8/14 10:00 ET Business Inventories

Key Economic Events Week of 8/3

8/3 9:45 ET Markit Manu PMI July
8/3 10:00 ET ISM Manu PMI July
8/3 10:00 ET Construction Spending
8/4 10:00 ET Factory Orders
8/5 8:15 ET ADP employment July
8/5 9:45 ET Markit Service PMI
8/5 10:00 ET ISM Service PMI
8/6 8:30 ET Initial jobless claims
8/7 8:30 ET BLSBS for July
8/7 10:00 ET Wholesale Inventories

Key Economic Events Week of 7/27

7/27 8:30 ET Durable Goods
7/28 9:00 ET Case-Shiller home prices
7/29 8:30 ET Advance trade in goods
7/29 2:00 ET FOMC Fedlines
7/29 2:30 ET CGP presser
7/30 8:30 ET Q2 GDP first guess
7/31 8:30 ET Personal Income and Spending
7/31 8:30 ET Core inflation
7/31 9:45 ET Chicago PMI

Key Economic Events Week of 7/20

7/21 8:30 ET Chicago Fed
7/21 2:00 ET Senate vote on Judy Shelton
7/22 10:00 ET Existing home sales
7/23 8:30 ET Jobless claims
7/23 10:00 ET Leading Economic Indicators
7/24 9:45 ET Markit flash PMIs for July

Key Economic Events Week of 7/13

7/13 11:30 ET Goon Williams speech
7/13 1:00 ET Goon Kaplan speech
7/14 8:30 ET CPI for June
7/14 2:30 ET Goon Bullard speech
7/15 8:30 ET Empire State and Import Price Idx
7/15 9:15 ET Cap Ute and Ind Prod
7/16 8:30 ET Retail Sales and Philly Fed
7/16 11:00 ET Goon Williams again
7/17 8:30 ET Housing Starts and Permits

Key Economic Events Week of 7/6

7/6 9:45 ET Markit Service PMI
7/6 10:00 ET ISM Service PMI
7/7 10:00 ET Job openings
7/9 8:30 ET Initial jobless claims
7/9 10:00 ET Wholesale inventories
7/10 8:30 ET PPI for June

Key Economic Events Week of 6/29

6/30 9:00 ET Case-Shiller home prices
6/30 9:45 ET Chicago PMI
6/30 10:00 ET Consumer Confidence
6/30 12:30 ET CGP and SSHW to Capitol Hill
7/1 8:15 ET ADP Employment
7/1 9:45 ET Markit Manu PMI
7/1 10:00 ET ISM Manu PMI
7/1 2:00 ET June FOMC minutes
7/2 8:30 ET BLSBS
7/2 10:00 ET Factory Orders

Key Economic Events Week of 6/22

6/22 8:30 ET Chicago Fed
6/22 10:00 ET Existing home sales
6/23 9:45 ET Markit flash PMIs for June
6/23 10:00 ET New home sales
6/25 8:30 ET Q1 GDP final guess
6/25 8:30 ET Durable Goods
6/26 8:30 ET Pers Inc and Spending
6/26 8:30 ET Core inflation

Key Economic Events Week of 6/15

6/16 8:30 ET Retail Sales
6/16 8:30 ET Cap Ute and Ind Prod
6/16 10:00 ET Chief Goon Powell US Senate
6/16 4:00 pm ET Goon Chlamydia speech
6/17 8:30 ET Housing Starts
6/17 12:00 ET Chief Goon Powell US House
6/18 8:30 ET Initial Jobless Claims
6/18 8:30 ET Philly Fed
6/19 8:30 ET Current Account Deficit
6/19 1:00 pm ET CGP and Mester conference

Key Economic Events Week of 6/8

6/9 10:00 ET Job openings
6/9 10:00 ET Wholesale inventories
6/10 8:30 ET CPI for May
6/10 2:00 ET FOMC Fedlines
6/10 2:30 ET CGP presser
6/11 8:30 ET Initial jobless claims
6/11 8:30 ET PPI for May
6/12 8:30 ET Import price index
6/12 10:00 ET Consumer sentiment

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