On The Edge

Maybe you've noticed the correlation. Every time The Pig sells off, the conversation here inevitably turns to bacon. I'm not sure why. Maybe it's just one of those subliminal deals.

At any rate, here's a current, graphic image of ole Pigatha Christie:

edge7.jpg

As you can see, The Pig rests rather precariously on the edge this evening. The area between 76 and 76.50 has alternated between support and resistance for several months. It is currently acting as support again. The next few days should tell the tale. The POSX will either rebound decisively or support will give way, leading to an initial decline to near 75. See below:

paper_10-26pmpig.jpg

Of course, another Calvin "bounce" for The World's Reserve Currency matters little. Where you're headed tomorrow is of little importance when the long-term picture looks like this:

butcher_shop_022.jpg

Gold and silver both turned in terrific performances today as they attempt to take out significant resistance and add to their hard-fought gains of late. Gold, by closing today above 1720, looks poised for a quick run to 1765 or so. Silver, if it can just get through 34, should quickly spring toward 37.

paper_10-26pmgold.jpgpaper_10-26pmsilv.jpg

Lastly, another site update. No, I am not "trolling for dollars" as some like to claim. In fact, the site is currently on a reasonably sound footing. However, I have received numerous emails asking for:

a) A way to "donate" without using PayPal

b) A way to donate automatically/regularly, on a once-a-month basis

We have accomplished both by adding a revised "Feed The Turd" page. You can find it here:

https://www.tfmetalsreport.com/donate

Note that we've added the ability for generous benefactors to pay The Shimshock Group directly when choosing to help with site management and construction. Anyone that chooses this route can rest comfortably, knowing that their money is being applied directly to the site and not to The Turd's "credit" account at The Bellagio.

Thanks again for all your help in building and maintaining the site. Keep the faith. The rest of this week promises to be pretty interesting.  TF

283 Comments

joe rocker's picture

Not true!  Gold combines with

Not true!  Gold combines with lots of things...

https://secure.wikimedia.org/wikipedia/en/wiki/Category:Gold_compounds

Just because it's shell is full doesn't mean it won't "stick" to anything...

Dr G's picture

Uhh, all markets looking

Uhh, all markets looking good. :) Silver is going to have resistance in the 34.75 area. Clearing that sends it to 35.20.

MollyRatchet's picture

@ redwood

"For EW lovers, D wave has been aborted."

I think you meant to say "For EW Groupies, D wave has been aborted"

So we now have

Ivars Groupies, Turd Groupies, EW Groupies, Shiff Groupies, Gold Groupies, Silver Groupies, Youtube Groupies ...etc . Groupies.

Now we can all get along ...

MR (no groupies) haha ..

Dr G's picture

Ivars puts a lot of time into

Ivars puts a lot of time into his work, but you'd be an idiot to believe it sight unseen. What are you going to do? Sit around until 2014 to determine if the charting is correct? That's a no-go for me.

Silver is going up. Gold is going up. The POSX is going down. Inflation is here and hyper speed is coming. I don't need any charts to tell me that. Therefore, I buy metals every week. The cost is irrelevant to my end-game.

Dr G's picture

New Turd thread.

New Turd thread.

Hammer's picture

US durable goods beat

US durable goods beat forecast.....................well they would wouldn't they if you include the products that are made and then stockpiled in warehouses without anyone to buy them wouldn't they ? wink

redwood's picture

Molley Ratchet

Nothing wrong with hanging your hat (no pun intended) on something, it's where you with it that counts. wink

redwood's picture

should be "where you go with

should be "where you go with it that counts" and then voila you're no longer a groupie.

cpnscarlet's picture

Ag Fire

Seems to me that Ag is simply following the rest of the commodity world today. Nice moves in energy (except natgasangry) cotton, soybeans. Also like those moves in UST rates. Is reality getting a hat tip or is it just more EUR nonsense?

GROUPIES? I'd like some. How about at least we make SASHA TIREBITER the official Turdville mascot????

Vypuero's picture

Gold to be more specific

I meant this (from Wiki):

Pure metallic (elemental) gold is non-toxic and non-irritating when ingested[69] and is sometimes used as a food decoration in the form of gold leaf. Metallic gold is also a component of the alcoholic drinks GoldschlägerGold Strike, and Goldwasser. Metallic gold is approved as a food additive in the EU (E175 in the Codex Alimentarius). Although gold ion is toxic, the acceptance of metallic gold as a food additive is due to its relative chemical inertness, and resistance to being corroded or transformed into soluble salts (gold compounds) by any known chemical process which would be encountered in the human body.

and beware:

Soluble compounds (gold salts) such as gold chloride are toxic to the liver and kidneys. Common cyanide salts of gold such as potassium gold cyanide, used in gold electroplating, are toxic by virtue of both their cyanide and gold content. There are rare cases of lethal gold poisoning from potassium gold cyanide.[70][71] Gold toxicity can be ameliorated with chelation therapy with an agent such as Dimercaprol.

colihondro's picture

You can eat it, but be careful how much...

ewc58's picture

Great points about Loyalty

Yet, anyone familiar with some of the things I diverge on with Turd and others here, or with how totally independent-minded a dude like Shill is, or sees how totally miscast all-around Town Nice Guy DPH is in the role of Villain had a good morning chuckle at the thought of that fictional overnight story from the eurozone. Talk about a herd of cats as your core fan base. If I'm guilty in any way of being Loyal to our Host and trying to be deferential to his wishes about how to use his FREE GIFT, I suppose I can own that.

That's a huge step up from being inconsiderate and obstinate, or a thick headed ego maniac who continues to use front page space inappropriately for epic charts even after being encouraged (very nicely and repeatedly) to post the upshot on the front page with imbedded links to a deep dive treatment contained in a Town Forum. Or on Sapos Joint, whatever. It is a fair approach that in no way diminishes anyone's freedom of speech or exposure on Main Street. The position is NOT if anyone has the "right" to post what, when, and where. At least up to the point Turd himself steps in to shut you down due to TSS (Terminal Stubbornness Syndrome).

The issue at hand also has nothing at all to do with whether the output is "right" or  "wrong". That position is stupid.

As I said the other day, this whole area may be Ivars' Pet Project, but it is not Turd's.  So WTF is the problem here exactly? I'd hoped that would have helped frame the issue more clearly.  For the umpteenth time, here's the point: use a forum. Or create your own "Ivars Ville" blog, get wildly popular like Turd has made himself, and start a FroYo chain in Latvia. And please tell us about all of these things on the front page, with links to click if we choose to know more. No force feeding, not cool. Especially when not in your own home (h/t: Miss Manners)

I also note a disturbing correlation between some of the same posters who continue to try to side-track this debate, and those who post nearly nothing of any value (of any type) for the benefit of Town residents at large. See, it's one thing to kiss the butt of those one loves, or to staunchly defend them from repeated, polite requests to use Turd's blog appropriately. But, do these follower tendencies result in any value delivery though? No, none.   I've just looked back in comment History and don't see a whole lot of valuable content from some of these back-benchers. In some cases, none at all.  I'm guessing that is why they're back there.

I'll keep re-framing the issue properly as needed to overcome any recurring static and other odd background noises:

Summary/upshot: on Main Street

Deep dive content: off-Broadway

Brimstone's picture

Serfdom for all!!!!

 

Without austerity things deteriorate rapidly

Another “wow” moment. If one starts at a tough debt-to-GDP ratio, say 100%, in a low-growth, low-inflation environment, it is imperative to get the budget deficit under control. Austerity, as measured by the primary surplus, can bring down the debt-to-GDP ratio noticeably over the course of a decade – noticeably enough that the austerity can be eased, or market interest rates fall, before the decade is over (see Exhibit 3). But without austerity, the debt piles up faster than GDP can grow, so the policy is not credible.

http://www.zerohedge.com/news/gmo-does-euro-bailout-math-finds-arithmetic-sovereign-debt-crisis-daunting-not-insuperable

Any attempt to payback these debts, whether its Europe, America or anywhere else is a guaranteed ticket into debt serfdom for the entire population ( well, all but the top .01%).  We can argue all day about the ethics or morality of not paying these debts but it is ultimately pointless as everyone who has a heart beat has their hands dirty one way or another and some dirtier then others.

Lets use Portugal as an example.  Why on earth would the population willing submit to its external debts when the lenders are just as culpable for lending at levels that any sentient being should be able to determine are unserviceable?  Yes it would be painful, but ultimately far less so then another hundred years of debt serfdom.

This global empire of debt must be brought down and the sooner the better.  The longer it exists, the longer all but the welathiest and most connected are little more then financial livestock.

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