Wallowing In The Mire

126
Wed, Aug 17, 2011 - 9:31am

What the true proverb says has happened to them: “The dog returns to its own vomit, and the sow, after washing herself, returns to wallow in the mire.” 2 Peter 2:22

Ole Turd ain't much of a biblical scholar but I'm pretty sure Saint Peter wasn't prophesying about the decline of the U.S. dollar when he wrote this. But...

Ole Pigatha sure is living up (down) to her name today. We are getting very close to a test of the lows from back in early May. IF those lows fail, the Pig will rapidly decline toward critical and final support around 72. If you're wondering, the all-time, spot low is 70.81, found back in March of 2008. Not coincidentally, this was when gold was breaking the $1000 level for the first time. If it heads back there again soon, and it looks like it might, it will likely correlate with gold tackling the $2000 level for the first time.

The PMs reached my short term objectives overnight. Yesterday, I told you to look for a test of the 1800 level and we got an early morning peak today of almost 1798. I also mentioned that silver would catch some EE-inspired resistance at 40.40. It reached 40.38. They both since tailed off and I'd expect that to continue.

Now, don't get me wrong. Nothing would make me happier than to see the metals catch a bid this morning and plow right through those levels. They might. Someday very soon, they will. I just don't think that today is the day. A typical advance from this type of technical position would be to pull back a little here. Gold could drop back toward 1770-75. It might even see 1760-65. From there, though, I look for the next advance that will carry it through 1800 and beyond. Silver is the same. The 40.40 level is all that stands between silver and a retest of the resistance near 42. It will take solid effort to get through there and I don't think that the momentum is there today to pull it off. Let's look for a pullback under 40, maybe to 39.75 or so. From there, silver should catapult forward and break the EE line at 40.40.

The general commodity rally we forecast last week is certainly in full swing. Crude is back up to 88.50 this morning and the December corn just made new contract highs yesterday. Expect this rally to continue for another 2-3 weeks.

Lastly, someone emailed me this link. Probably more than a few of you will find this interesting:

https://www.activistpost.com/2011/08/4-ways-to-break-silver-manipulation.html?utm_source=twitterfeed&utm_medium=twitter

Have a great day! TF

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  126 Comments

SuperManny
Aug 17, 2011 - 3:47pm

RE: Dent and other forecasters

I guess if he calls a 'top' every time we make a new high eventually he'll be right for a brief period of time.

I've always been intrigued by people who make forecasts like that. A couple of other people often mentioned here in the comments section are Clif High and Lindsey Williams. Now don't get me wrong, I have a great deal of respect for Clif... as a matter of fact I'm the guy who gathered up all his old interviews and made them publicly available through file-sharing sites and torrents. The torrent files are still available here; https://thepiratebay.org/torrent/5524719/Web_Bot_Project_Interviews_2004...

Lindsey Williams sez;

Lindsey Williams on Alex Jones Tv: Total Economic Collapse of America in 2 Years. Within TWO YEARS you will not recognize America. You will be so poor you will not be able to rebel [10/20/09]

The 'Elite' are supporting John McCain for the next presidency [2008]

...from mid-2008 to mid-2009, news of super giant oil fields, ready to produce, would be announced for two locations, in the Northern Slopes of Russia and in Indonesia, which oil fields would together contain more oil reserves than the entire Middle East. This news would drive oil prices down to $50/barrel; and that OPEC countries, especially in the Middle East, would be bankrupted by this price decrease.

The dollar will be totally dead by the end of 2012

Gold price will stay flat through August 2011, then from Sept. to Dec. will increase 20-25%

Clif High sez;

[Summer 2011] very rapid rise of gold/silver above/beyond anything accrued in May.

...reports in the [mainstream media] of [disappearing inventory] will be coincident with, or just ever so slightly ahead of [default!!!!@!!@!] for [(deeds to) precious metals]. {Early to mid Summer} --from Shape Report 10 Clif also forecast economic collapse for Nov. 2009. When it didn't happen he said the year was wrong... the collapse would happen in Nov. 2010 [An event bigger than 9/11] Shape Report 11 refers to an increased manipulation and a 'darkening' of gold and silver. "...increase in values is most acute in the ‘intensity’ field, and rises very sharply from early August to a plateau that extends in an upward rising arc through September, and all the way until the [mood (and other contexts) crash] of very early December, 2011. Then the emotional intensity value does level off, but still, it does not retreat to previous levels..." ---------------------------------------- Man he nailed that 'rise in early August' didn't he? As you can see, this forecasting stuff is tricky business, but these 2 guys both have hit a few over the years.
The Vet
Aug 17, 2011 - 4:35pm

Venezuela's gold mines....

Venezuela has gold in the ground, but it will stay there while Hugo is in charge. No industry that he has nationalized has prospered; most haven't even survived, even those that were fully built and operating before he stole them. There are no profitable gold mines and no significant miners either. The last is Rusoro who only managed to survive by emphasis on their "Russian" connections (actually they are Canadian listed) and Rusoro couldn't make money working under Chavez's rules.

Don't expect to see Venezuela as a significant producer for a long time, even though they have some of the best fully proved up deposits in the world; the international companies who did the drilling assaying and engineering are all now in the international courts claiming compensation. Hugo never intended them to mine a single ounce. All he wanted was the exploration for free, but they never gave him access to the data, so while he may know the general area to look there are years of drilling and engineering that he will have to repeat unless he pays for it and it won't be cheap. Gold Reserve (GRZ) wants $2.1 billion and Crystallex is claiming over $3 billion.

maravich44 The Vet
Aug 17, 2011 - 4:43pm

@ The Vet..

. good stuff as always. Please post more if you are so inclined. Thank You.

Animal Sacrifice
Aug 17, 2011 - 5:15pm

Fidel, Hugo, et. al.

The United States CIA made more than 20 failed assasination attempts on the life of Fidel Castro over the decades but his ashé was so strong and his power in Santo (as well as that of Santeros and Babalawos who were doing works to protect his life) so outlandish that they never got close. And this happened with virtually every Santero on the Island and all of them in Florida having Fidel's name in their Ogún working for his death. (When Fidel made the charge that the CIA had made over 20 attempts on his life the CIA responded that they only knew of five but in this one case I trust that Fidel was right.)

I do not know if Hugo is a Santero but there is no way, even if he is, that he shares the great ashé in any meaningful measure that Fidel had and still has.

The USA can, and should for the stability of the world, excise Hugo from the planet. It sounds barbaric but is the sad, basic truth. The same is true for a growing number of South American Fidel-wannabes. Got to get them done before they undergo the ceremonies that Fidel underwent in Africa.

Se Aalafia Ni,

Ogúnlaná

Kumanari
Aug 17, 2011 - 7:28pm

MargaritaTime

Good on ya girl, there are many that need to expedience this vid several times. There was another one a week or so ago ( a sunday) don't have time to look it up. Far too many are caught up, blinded by all dis "stuffs" as we say. This is the same as what John Trudell teaches us.

Mahalo nui loa

Watcher
Aug 17, 2011 - 10:19pm

Alright, who are you and what

Alright, who are you and what did you do with Turd?

The end is surely near when I see TF quoting Scripture. What's next? Pictures of Mary in a silver coin?

Moe, Larry, cheese. Moe Larry cheese....

The Three Stooges: Moe larry The Cheese. Limburger

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