WOPR Sells. Turd Buys.

214
Sun, Jul 31, 2011 - 10:29pm

 In a surprising development <sarc on>, The Regime and The Republocrats are on track to reach a "grand compromise" that raises the debt ceiling by about $3T (buys enough time to put this issue away until after the next election). The plan also has no immediate spending cuts or tax increases (why piss off your voters before the next election?).

W.O.P.R. is running wild tonight and selling PMs. The Cartel is anxiously anticipating a cascade in gold big enough to spur some margin hikes. Will they get it? Who knows? Who cares? The United States of America, originator/printer of the world's reserve currency, just decided to increase its national debt by another 20%! I will buy what WOPR is selling. I'll take delivery of it and stack it with the rest. If you have any doubts tonight, the chart below is the only one that matters. Rest well knowing that you are doing all you can to protect yourself from the heinous criminals in Washington. More in the a.m. TF

large_gc_1_0_0_0.jpg

10:25 EDT UPDATE:

Man, oh man. This is definitely something that you do not want to be messing with today.

paper_8-1amgold1.jpg

This is crazy and it will rip your head off if you play with it. If you must trade, do so with as much time in your pocket as possible. For example, the only options I own expire near Thanksgiving,

As stated above, all of the hoopla regarding the "compromise" needs to be ignored. All that matters is that the world's largest debtor nation (and provider of the reserve currency) has just allowed itself to go another 20% deeper into debt. Over the next two years! This is what the end of The Great Keynesian Experiment looks like. As we drop deeper into the "funnel", debts rise exponentially and the "coin" spins faster and faster until the bottom simply drops out. Again, let WOPR and the day traders sell their PMs. Take advantage of today's "sale" and add to your stack. TF

paper_8-1amgold.jpgpaper_8-1amsilv.jpg

p.s. If you need some comic relief to get through the day, I give you this. From the always-brilliant Motley Fool site:

https://www.fool.com/investing/general/2011/07/25/the-arrogance-of-investing-in-gold.aspx?source=isesitlnk0000001&mrr=1.00

About the Author

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  214 Comments

Dakini Magpie
Aug 1, 2011 - 12:24pm

Boehner: "We got 98% of what we wanted."

Speaker of the House John Boehner on his debt deal with the Prez:

"July 31, 2011, 9:02 p.m. ET:

Boehner says deal 'does not violate GOP principles...We got 98% of what we wanted.'"

(From Fox news: Follow the debt deal https://politics.blogs.foxnews.com/2011/07/31/follow-debt-drama-play-play)

ewc58
Aug 1, 2011 - 12:26pm

Awesome Screenshot,

but of awful news:

save image

Shill
Aug 1, 2011 - 12:27pm

Were so screwed

Only 2% of spending cuts to take place before next election, CBO scores cuts at 50% of whats required:

  1. https://www.zerohedge.com/news/cbo-scores-bipartisan-plan-half-sp-required-savings-only-2-total-cuts-take-place-obama-reelecti


OK. This BS has to stop now and I think the markets have had enough.

Time to sell off BIG until these crooked politicians start becoming serious.

Also, if I were the rating agencies, I would downgrade the US today and go from AAA to A.

Ferd Torgerson
Aug 1, 2011 - 12:29pm

Jay Carney Press Briefing in Progress at White House

Question from reporter in yellow foam hat at back of the Press Room:

“Jay, do you think it would be a good idea for Congressional leaders to survey a focus group in Turdtown before proceeding with the debt limit vote?”

ewc58
Aug 1, 2011 - 12:30pm
ewc58
Aug 1, 2011 - 12:34pm

Andy excerpt, my brotha is fired up!

"...As you are all aware, I predicted in my July 28th RANT, “Sunday Night Special”, a lot of blustering going into the weekend, and “come Sunday night, a triumphant, “bipartisan agreement” to “temporarily” raise the debt limit by roughly $1 trillion, to $15.3 trillion, with essentially ZERO spending cuts or tax increases to back it up – in essence, the worst possible scenario for the dollar and the U.S.’s credibility.”

Unfortunately, what we got was even WORSE, by several magnitudes! Worse for America, worse for the Western World, and far worse for my already maxxed out forecast of imminent hyperinflation. Per the NIA update released late last night (text below), the debt ceiling will essentially be raised by $2.1-$2.4 trillion, to roughly $16.4-$16.7 trillion from $14.3 trillion currently, or just enough to get through the 2012 elections if you believe the fatally flawed, insanely optimistic math of the government (4.8% GDP growth, LOL!). Most of the supposed “dollar for dollar” spending cuts intended to match the debt explosion haven’t even been CONSIDERED yet, let alone included in this plan, and most of the proposed initial cuts don’t even START until 2013, AFTER the entire $2.1-$2.4 trillion debt limit increase has not only been IMPLEMENTED but likely UTILIZED ALREADY! In other words, it is very likely that the national debt will be in the $16.5 trillion region before even a dollar of spending is CUT!!!! Not to mention, we already have a $2+ trillion/year annual budget deficit, which will at the least be maintained indefinitely, if not increased due to the aforementioned optimistic math that assumes government revenues will dramatically increase due to forecast strong economic growth!

I have more than a few things on my mind about this despicable agreement to further destroy America for the benefit of Washington and Wall Street, but my most vitriolic RANTing has to be reserved for the supposedly “conservative” Republicans in the House of Representatives, led by John “limp-d**k” BONER (talk about a misnomer)..."

Shill
Aug 1, 2011 - 12:36pm

Respectfully

“Jay, do you think it would be a good idea for Congressional leaders to survey a focus group in Turdtown before proceeding with the debt limit vote?”

Respectfully Jay Carney is the biggest Douche Bag I have ever seen. If he was molded in the form of Poncho his nose would have killed everyone in the room from its enormous growth due to his blatant lying.

SICK AND TIRED OF THE LIES!!!!!!!!!!!!!

SilverWealth
Aug 1, 2011 - 12:36pm

Grannie's Gold

Having bought Gold paper on discount early this morning, Granny has had,unfortunately, to sell quickly into these nice spikes up given to her by the nice boyz on Wall Street. Why sell Gold the mad crowd may ask?

Well Mr. Sabatinni who owns the XXXEroticaAdultToys shop down on Main and Beaver has asked me to go partners with him on his new CashForGold store opening this month. So I am plowing(excuse the pun you nasty boys) some gold paper profit into this new business and looking for only a small return, 750%? or so, over the next couple of years as enthusiastic Americans sell their teeth, wristwatches,ear rings,necklaces and gold plated 'toys' to me so that they can put food on the table during the coming Krondrateif Winter. So I am in effect going into the socail working business by giving these people a chance to raise funds for In and Out Burgers, Cable T.V., Nail finishings and gymn memberships. IT is such a good feeling knowing that I am contributing to the welfare of our society.

Shill
Aug 1, 2011 - 12:39pm

Gene Sperling

"Economic Advisor" for The Regime just uttered this:

"The President did not give an inch. He simply chose to compromise".

What a joke. Put this right there with other great Obama oxymorons like "jobless recovery".

Shill
Aug 1, 2011 - 12:46pm
SuperManny
Aug 1, 2011 - 12:48pm

Turd's mixed messages?

Am I the only one getting mixed messages from Turd??

Headline says "Turd Buys" but the gold chart says "Stay away and watch!"

----------------------------

Oh, and maybe Turd or a mod could update the Turdisms, because everytime you use WOPR, etc, we have people asking what it means... just a thought. :)

ewc58
Aug 1, 2011 - 12:48pm

Don't forget your Kelp Iodine and apple pectin!

In case you maybe thought this went away?

It's been weeks since I banged the drum for Chlorella, Garlic, Apple pectin, and Kelp Iodine supplements as ways you can help your system deal with and process radioactive poisons out instead of allowing them to accumulate. This is the KEY! Take them all.

I'm begging you folks, please take this threat seriously and spend the small amount it takes to buy the supplements that may help you and yours get by here. An ounce of prevention and all that...

Highest Radiation Ever Detected At Fukushima: 10+ Sieverts An Hour Tyler Durden's picture

Submitted by Tyler Durden on 08/01/2011 11:35 -0400

Remember all those idiots who claimed that Fukushima is contained, or better yet, the drama is exaggerated? Perhaps it is time to exile them all, starting with that moron from MIT, to Fukushima where the radiation measured at the base of the main ventilation stack just hit an all time high 10 sieverts/hour. The truth likely is much uglier: this is simply the highest reading the devices are able to record. In other words, there does not exist a device that can capture the true extent of the catastrophe at Fukushima!

From Bloomberg:

“I suspect the high radiation quantity was an aftermath of venting done,” Matsumoto told reporters in Tokyo. “The plant is not running. I don’t think any gas with high radiation level is flowing in the stack.”

Tepco sent three workers around the ventilation stack today after a gamma camera detected high radioactivity levels in the area yesterday, Matsumoto said. The workers were exposed to as much as 4 millisieverts during the work, he said.

The utility will create a no-go zone around the stack and cover the area with protective material, he said.

At least with Chernobyl, 5 months after the explosion it was pretty much well-known what the damage really is. In Japan, however, the ongoing attempt to hide everything from the general population, many of whom will pay for their government's lies with their lives, means that reality will only gradually be comprehended. By the time all is said and done, Japan's demographics will be far, far worse than even today. But who cares: that will be some other administration's (and unborn generation's) problem.

MIDDIE
Aug 1, 2011 - 12:49pm

@ Shill

Thanks for posting that link, I think. I am near sick to my stomach after reading that. Seriously, who can write such drivel and think anyone with a brain could believe that? It is incredible to me that there are people who actually....... I can't even bring myself to write it. Taking yet another deep breath!

Violent Rhetoric
Aug 1, 2011 - 12:49pm

"The President did not give

"The President did not give an inch. He simply chose to compromise".

I LOVE this!

Mickey
Aug 1, 2011 - 12:50pm

pelosi

pelosi wants tax increases.,

if total individual taxes are 1 trillion, and if everybody paying taxes (the 51%) endured 3% point tax increase overall taxes would probably go up in the area of 100 billion. Since this tax increase only aimed at the rich sobs, the tax increase in the aggregate would be far less than 100 billion.

Way to go Nancy! Obummer!

the CBO shows tax revenues increasing from 2.2 trillion to 4.9 trillion between now and 2021 (in its prior projections) with most of it front loaded. Based on growth (not happening) and rate increases (even if it happened its nothing to speak of).

DC is pathtic.

ewc58
Aug 1, 2011 - 12:51pm

Turd, another good one from BaRack 'n Ruin...

"Shovel-ready jobs"

Ahhhhh, ya.

Shovel-ready bullshit maybe.

Dr G ewc58
Aug 1, 2011 - 12:58pm

@ewc58

The dollar vs euro is just a race to see who the tallest midget is, as if that is worthy of some sort of prize.

ewc58
Aug 1, 2011 - 12:59pm

Shill, ok, when did Pinocchio

go Mexican? indecision

That's why i call Jay "The Carney Geek". Dude may as well be biting the heads off of live chickens for a living. Clearly would stoop to anything for his daily bread.

Mickey Mickey
Aug 1, 2011 - 1:05pm

pelosi

just thinking-pelosis can really mess up Obummers Birthday party and fund raising in Chicago if she stops the bill. Might be intentional against Obummer


Aug 1, 2011 - 1:05pm

I'm pissed

Our fine president got everything he wanted and more. He just looks so smug in last night's photo--a stark contrast to the pouty-faced image of him complaining about partisan conservatives in Friday night's speech.

  • No budget battle until after an election
  • No spending cuts in an election year

Our friend, Uncle Sam, who is currently 143 lbs overweight and has a very unhealthy lifestyle will balloon up in weight even more now. We did not get the lifestyle change that this country desperately needs. We are not even trying to diet.

This was not a "balanced approach" or a "compromise." The conservatives in congress have simply rolled over, accommodated, placated! And now Boehner is claiming that "we have changed the terms of the debate in this town." I respectfully disagree.

The kids asked me if we could get our silver out and play "Pirates." I think tonight would be a good time for that. It might help me get my priorities realigned. My faith in God and the sound advice from this online community have been incredibly helpful the past year. 

ewc58
Aug 1, 2011 - 1:11pm

Something MANY here can relate to

"My faith in God and the sound advice from this online community have been incredibly helpful the past year."

Way to go Doc, doubleplus good.

Save_America1st
Aug 1, 2011 - 1:18pm

The Monkeys were late today...

I guess they wanted to wait until after the douchebags in D.C. made their little speeches. I think Dingy Harry Reid actually said something about now the sun is shining and the darkness has been lifted...or some bullshit like that.

That must have been the code words for Blythe and the Monkeys to bring it, because now the PM's are getting dumped on as I write this...

BTFD! Thank you Blythe...you wicked bitch you! ;)

oldtimegal
Aug 1, 2011 - 1:19pm

Doc J wrote: "My faith in God

Doc J wrote:

 "My faith in God and the sound advice from this online community have been incredibly helpful the past year."

Great Post Doc!!! HE is GREAT and Turd's site has been very educational and encouraging!! My appreciation to all here on the site!!!

Dr G Doctor J
Aug 1, 2011 - 1:21pm

@Doc J

@Doc J. This thing hasn't even been voted on yet. They are saying it will pass, which probably means that it won't. Who knows anymore. Hard to decipher the lies. The worst part is that our politicians are so unethical they don't even have the courtesy to lie to us all the time, just part of the time! LOL!

EDIT: and wow, check out the price of silver. Up we go, down we go. So much fun!

Shill
Aug 1, 2011 - 1:24pm

Ha ha ha ha

Shill, ok, when did Pinocchio

Submitted by ewc58 on August 1, 2011 - 12:59pm. Hat Tip! 0

go Mexican? indecision

That's why i call Jay "The Carney Geek". Dude may as well be biting the heads off of live chickens for a living. Clearly would stoop to anything for his daily bread.

Typ-O's are very un-becoming I know LOL!...I was to late for an Edit :)

ewc58
Aug 1, 2011 - 1:25pm

Better get this Paulie up before ScottJ beats me to it...

h/t: ZH https://www.zerohedge.com/news/ron-paul-exposes-deficit-plan-lies-cuts-are-illusory-not-current-amounts-spent-projected-spendi

Ron Paul Exposes The Deficit "Plan" Lies: "Cuts Are Illusory, Not From Current Amounts Spent But From Projected Spending Increases"

Tyler Durden's picture

Submitted by Tyler Durden on 08/01/2011 12:33 -0400

Ron Paul slams it right out of the ballpark.

When a Cut is Not a Cut

One might think that the recent drama over the debt ceiling involves one side wanting to increase or maintain spending with the other side wanting to drastically cut spending, but that is far from the truth. In spite of the rhetoric being thrown around, the real debate is over how much government spending will increase. 

No plan under serious consideration cuts spending in the way you and I think about it. Instead, the "cuts" being discussed are illusory, and are not cuts from current amounts being spent, but cuts in projected spending increases. This is akin to a family "saving" $100,000 in expenses by deciding not to buy a Lamborghini, and instead getting a fully loaded Mercedes, when really their budget dictates that they need to stick with their perfectly serviceable Honda. But this is the type of math Washington uses to mask the incriminating truth about their unrepentant plundering of the American people.

The truth is that frightening rhetoric about default and full faith and credit of the United States is being carelessly thrown around to ram through a bigger budget than ever, in spite of stagnant revenues. If your family's income did not change year over year, would it be wise financial management to accelerate spending so you would feel richer? That is what our government is doing, with one side merely suggesting a different list of purchases than the other.

In reality, bringing our fiscal house into order is not that complicated or excruciatingly painful at all.  If we simply kept spending at current levels, by their definition of "cuts" that would save nearly $400 billion in the next few years, versus the $25 billion the Budget Control Act claims to "cut". It would only take us 5 years to "cut" $1 trillion, in Washington math, just by holding the line on spending. That is hardly austere or catastrophic.

A balanced budget is similarly simple and within reach if Washington had just a tiny amount of fiscal common sense. Our revenues currently stand at approximately $2.2 trillion a year and are likely to remain stagnant as the recession continues. Our outlays are $3.7 trillion and projected to grow every year. Yet we only have to go back to 2004 for federal outlays of $2.2 trillion, and the government was far from small that year. If we simply returned to that year's spending levels, which would hardly be austere, we would have a balanced budget right now. If we held the line on spending, and the economy actually did grow as estimated, the budget would balance on its own by 2015 with no cuts whatsoever.

We pay 35 percent more for our military today than we did 10 years ago, for the exact same capabilities. The same could be said for the rest of the government. Why has our budget doubled in 10 years? This country doesn't have double the population, or double the land area, or double anything that would require the federal government to grow by such an obscene amount.

In Washington terms, a simple freeze in spending would be a much bigger "cut" than any plan being discussed. If politicians simply cannot bear to implement actual cuts to actual spending, just freezing the budget would give the economy the best chance to catch its breath, recover and grow.

Magpie Dr G
Aug 1, 2011 - 1:28pm

Dr G, just in case you're serious

and you've never really bought any "phyzz": It's like having sex for the first time....you heard it was good, but you didn't know until you tried it. After the first time you'll want to "do it" again and again. But you'll never forget the first time. Mine was local: gold+premium+sales tax at $968.38. wink

ewc58
Aug 1, 2011 - 1:28pm

Shill, typos don't bother me none...

but as a proud Italian-American, I got a chill devil

Economical Disaster
Aug 1, 2011 - 1:35pm

RE; Radiation

@ewc58 don't forget another crucial supplement that I have also been taking since MARCH. CILANTRO OIL, I add it in my mixture of kelp and chlorophyll

ewc58
Aug 1, 2011 - 1:36pm

It's 1:30 EDT

Do you know how much your PMs are down?

surprise

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