Monday, May 21, 2012

I GUESS ITS TIME TO LIE


So what.....you can't touch me....
“I don’t envisage, not even for one second, Greece leaving. This is nonsense, this is propaganda.”
– Jean-Claude Juncker, Chairman EuroGroup FinMin Committee

When it becomes serious, you have to lie.’’
– Jean-Claude Juncker, Same guy

Sounds familiar doesn't it. A multitude of sins in the last few years seem to have this very morality at its core. The numerous testimonies of Bernanke dismissing the housing collapse, dismissing any chance of recession. Paulson repeating the same mitigating mantra and the multitude of pundits marched out to allay the fear that was gripping the peeps as the economy melted down. After it was all said and done and the initial deleveraging occurred with liquidity snatched from the jaws of death then the truth slowly ebbed out of the same individuals over the last few years. This time they were extolling the "fix" and defending it at the same time by admitting we were on the brink of total financial destruction. That we were "staring into the abyss". That we came within a few short hours of a "complete financial collapse". This would qualify as a type of "jury nullification" if these individuals were on trial.......but of course they are not and never will be. Paulson even went so far to protect himself from ANY possible prosecution in the TARP bill with a qualifier stating he could not be prosecuted for ANYTHING. I wonder what he was afraid of happening.

Breakdowns in CONfidence can never be easily addressed by further lying and distortions..and that is just what is happening. The feet are voting in the Eurozone right now with the bank runs accelerating and I believe the central bankers are going to have to act much quicker than they would like to so be prepared for a big round of some type of QE announcement coming. They have to stop the bleeding. The Greek issue is an outright hemorrage and must be stemmed. Don't sweat the small stuff on the PM trade. It will take care of itself over time. These day to day moves are almost comical so sit tight until we can see what type of channel they form. Stack your physical and stack your food and barter items and gl.


52 comments:

  1. Some comments:

    Phil Davis feels that without further announced stimulus, the best "bounce" we can get is 40%. This would target the DOW at 12,750, the S&P at 1343, and the Russell at 780. Keystone feels that a retrace back to 1340 on the S&P is possible. Thus Phil's and Keystone's number for the S&P are similar. If we can get to 1340, I will probably put my RWM hedge back on.

    Keystone notes that the markets are often bullish going into a 3 day holiday. Keystone feels that we might be down today & tomorrow, but Thursday & Friday will be up days. Let's see.

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  2. "Secret Central Bank Aid Props Up Greek Banks"

    http://www.cnbc.com/id/47513542

    I didn't know they had a super secret stash of money hidden away?! Oh wait, it's the big red "print" button prominently displayed in their currency software. :)

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  3. put in your requests for what you want me to tell the bankers for you....hope to have some fun stuff to share in a day or so.....hehehehheeheheh

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    Replies
    1. How BIG, really, is the JPM loss on the IG9 trade?

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    2. you will never know the true number....just multiply whatever number they put out by 5

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    3. but i'll ask ....actually the people i will talk to might venture a guess

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    4. Sweet, I just want to hear a number from a rival bank, there guess will probably be very close. Your X5 theory is probably correct as well.

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    5. nice consolidation day....it needs a couple like this

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  4. Kli,

    I would ask about how large they feel the world derivatives/CDS exposure is. Quadrillion?? And do they feel that debt will all be restructured in such a way that the CDS's will never trigger--similar to what happened recently with Greek bonds.

    Also, are they privately buying precious metals for themselves and their families?

    Thanks!

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  5. Yes, and where oh where are they storing their "treasure"? Governments desperate for money may confiscate. Scratch that, probably will confiscate. They are probably floored by your knowledge.

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  6. KLI: I'd like an honest forecast regarding inflation/deflation/stagflation. Grocery store and gas prices remain very high. Yet people like yourself have said deflation is just around the corner. But you've been saying this for a quite some time and I'm not seeing it. Furthermore, can you ask them if/when we'll see QE3.

    Thanks.

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  7. (Reuters) - The Financial Industry Regulatory Authority's chairman said on Tuesday that regulators plan to review allegations that Morgan Stanley shared negative news before Facebook's initial public offering with institutional investors.

    http://www.reuters.com/article/2012/05/22/us-exclusive-regulators-may-review-morga-idUSBRE84L11L20120522?feedType=RSS&feedName=businessNews&utm_source=dlvr.it&utm_medium=twitter&dlvrit=56943

    These last 3 days of FB trading have been the biggest retail fleecing I've seen in years.

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  8. inside the bowels of the bankers......if i dont reappear in a few hours.....well....you know what to do.....heheheheheh

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  9. Adam Fergusson did a book in the 1970,s
    (When Money Dies)they did a reprint of it so it will not cost you 800.00

    it is a great read.....

    some how this time around what we have is
    (The Death of Money)
    OTC will kill all money....Bonds, Pensions, Insurance, 401K,s, savings..CD,s, SSI, all of it

    sorry that is what I think.....I play in all of them......

    butt I also buy gold and silver....just in case

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  10. i am safe....was afraid to find out if they were the heavy option call spread on a miner a few months ago that i had recommended to them to review.....and they were the heavy player....big enough that it made options monster on CNBS....the miner crashed shortly after their position was taken but this guy is sharp pro and he was long gone before they dumped the miner......hehehehhee.....so i am off the hook....these guys are looking at some gold options and I made an attempt at cautioning them on the COMEX.....it was met with a chuckle....oh well....hope they're right for all of our sake....they are split between doomers and no-wayers.....won't get more specific but hard distressed assets are being bot.

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  11. he did say he wont play GLD so he did listen to what i said last time

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  12. Hmmm. The destruction continues. The nowayers think we continue down this ridiculous road or things actually are improving? I find alot of financial pros are always bullish long-term. This has been the case since I started paying attention over 30 years ago and watched Wall St. Week. Birinyi comes to mind, now calling for 1700 on the s&p.

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  13. the other side of that coin is not in their generation to consider.....too far removed......and they have been cultivated

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  14. droke. With the long-term bull market in gold and mining stocks in full swing, there exist several fantastic opportunities for capturing profits and maximizing gains in the precious metals arena. Yet a common complaint is that small-to-medium sized traders have a hard time knowing when to buy and when to take profits. It doesn’t matter when so many pundits dispense conflicting advice in the financial media. This amounts to “analysis into paralysis” and results in the typical investor being unable to “pull the trigger” on a trade when the right time comes to buy.

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  15. on a different format so pardon my lack of posts ....but im watchin

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  16. headed down to WS now....will check in when i get free time gl

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  17. Look at the miners perform, they are being bought up fast!

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  18. Doctrader - trying to sneak that RWM trade in on me while I take a few days off for surgery. You are the sneaky one. Gonna have to watch you.

    Nice trade.

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  19. So far, 1298-1300'ish is holding on the S&P. Perhaps this is the downside target for now, and they will pump the markets tomorrow and Friday for Memorial Day.

    Let's see.

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  20. Name Price Change % Chg
    EUR/USD 1.2581 -0.0103 -0.81%

    Gold
    1,541.80
    -34.80
    -2.21%

    I'm really starting to wonder if QE3 is dead. It seems like folks prefer the dollar to gold before the European implosion.

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  21. Inlet,

    I really don't think it was all that "sneaky".
    Sold RWM to buy some FTR which is doing fine so far. But, I think the market is going lower to the 1250 area soon. So, I am hoping that they pump the markets into Memorial Day and thus maybe buy some RWM on Friday. Will see what happens.

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  22. When will it break $1500?

    Gold
    1,538.00
    -38.60
    -2.45%

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  23. Miners holding up well so far, hopefully the usual afternoon swoom doesn't knock em.

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    Replies
    1. Agreed miners are out performing the market and gold right now. A couple of my miners turning green on the day.....As a side note, oil broke through 90 which is great for the miners...

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  24. silver down 3% but PAAS up 1.5%. interesting. miners are fighting to hold on. hopefully this gold sell off is just a retest of of may 16 bottem. HUI trying to stay above 400

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  25. I am liking the miner action...GPL shook the tree as usual. Slv down but recovering and stable. I believe we are ok in this trade!

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    Replies
    1. Sheeps...have they shut down the SKF message board? Been trying to see the board and it keeps taking me to the Sprint board. Yahoo must be tired of the SKF board.....

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    2. skf is a douchebag board now so i cant imagine the bankers caring

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  26. hey all..

    all stocks starting with S in sent to Sprint.....LOL

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    Replies
    1. Answers my question.... Thanks

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    2. sgy atpg and sister had one

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  27. hey all..

    what was that natural gas play you all posted in the past?

    also do you have a play on coal

    looks like the big boys are playing..

    http://www.foxnews.com/opinion/2012/05/22/obamas-war-on-coal-hits-your-electric-bill/print#ixzz1vdALNXOI

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  28. Wlt and clf I play. and for nat had sandridge SD is interesting to me

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  29. HUI. goldbugs is trying to break above 420. a very good sign if it can get over

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  30. pay no attn to short term miner moves like yesterday....just hold until channel forms...then trade only marginally.....very strong movements today yesterday was just shakeout.....welcome back inlet ......you are my hero

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  31. on crappy movile devices in the middle of muggy NY.....ugggh

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  32. Love this action, would today count as retest? It was close... Miners looked fantastic today. Go AUQ go! ;)

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    Replies
    1. very telling action.....on a day like this you have to feel good

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  33. As for NG plays i like Encana, nice dividend. If you want to play something a little wild you might swing for SD.

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  34. Since the first two QE's didn't save the world, Helicopter Ben is trying a new approach:

    http://img.gawkerassets.com/img/17njqksgep7zajpg/original.jpg

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  35. Great action today, gone and expected to see a beating, but all were up except pzg...anyone else holding that one? It's been behaving exceptionally badly considering it had good news yesterday. WELCOME BACK INLET! good to see you. Little ppp going in the right direction too. May buy a bit more.

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  36. kli,

    Did you bring this slop in with you? Hehehe…. You had to pick this week to hang with the miscreants!! I’m up to my eye balls in alligators this week and next, I most certainly owe you a Dinner or at least an Adult Beverage or Two!!!! Hopefully next time you’re back up to the Cement Swamp our schedules can meet up.


    Don’t know if anyone else is tired of all this Facebook drivel, it’s nonstop!! I'm not saying I’m cynical but if I was...... I might think this whole thing was set up from the start to deflect the peeps from the real show!

    Glad to see your up and about Inlet!!!

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  37. anyone play that ROSG KLI posted....I hope...sent email to kli about it at 6

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  38. good to see ya chuck.....and tom i had a lovely day in the city with only a couple a drops today.....offered to see the prop desks in Goldman today......and i politely declined the generous offer.....lets just call it a case of "uncomfortable" for me to be there

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    Replies
    1. KLI: You got offered to see the Wizard of Oz and turned it down? :)

      I couldn't resist. Sorry.

      Delete
  39. Did you know that you can create short links with Shortest and get money for every click on your short links.

    ReplyDelete