Tuesday, June 19, 2012

FORGET IT .....YOU'RE BROKE

You hate government of course. But then who do you think built this bridge? Private enterprise? Doubtful. Should this bridge be private? Should investors be responsible for deciding the infrastructure of our bridges and highways? I won't go into privatizing police, firemen, prisons...etc. These post are for entertainment only and that would entail a little more work than the Fed eve deserves. The purpose of this post and the picture is for you to realize the 30 years of massive debt spending and liquidity creation from the derivative ponzi created a terrible problem for our nation and much of the developed world. We spent like drunken sailors on shore leave with no tomorrow. Now we have tomorrow. Now we face many issues ahead that are from a MALINVESTMENT nightmare we have created. We spent on "banks" and bankers. We churned out "business majors" and MBAs and not mathematicians and scientists and engineers. We failed to build infrastructure for the next decades. We wanted our "things" and we wanted them NOW! WE PUNISHED THE SAVERS AND THOSE THAT WERE OUR TRUE CONSERVATIVES......THE STRONG HANDS. Instead we gave unfettered access to our government and constitution to the ponzi...and they spent our future. Of course they threw us some cheap Chinese goods to placate us and make us believe that greed is good and interest rates so low that anyone saving for the future is a complete idiot. Well, here we are. Everyday is now another day of denial. Everyday is another sovereign in dire straits. Everyday is another fixit for the collapse. It has become so bizarre that the average citizen doesn't have a clue what to do. They don't understand and feel betrayed but they don't have anyway to sort out the daily cognitive dissonance that is being thrown at them. Professional investors have grown disgusted but they don't have any other game to play in their narrow perspective of markets. Back to the picture. That's real. Its not paper. It is what happens when a country ignores its future and lives for today. We will pay. We will pay in ways most of us cannot imagine after 30 years of binge koolaid drinking. GL if you are one of the gifted ones that believe this all ends well. Try opening your eyes. Government is you. Or at least it was. I'm not really sure what it is now or what it even does anymore.

Pay no attention to the markets initial reaction to the FOMC. It will all be sent in the direction Ben wants over the next few weeks. He needs cover before he unleashes the mother of all printing. gl


60 comments:

  1. If we don't get something tomorrrow I think I'm going to pick up a small lot of otm silver puts a few months out for insurance purposes. I already have calls, and I'm counting on a big move one way or the other. At least enough to cancel the other losing trade out. I do worry about the miners though if we start sinking again. One last brutal plunge does feel so sinister and vile so that seems quite likely :)

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    1. dont have a problem with that mover Hub......also look at the pair trade short physical gold long miners....still working too

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    2. Yes this has been a recent change as you've noted. Very interesting! Especially with that recent buyout. They pushed miners into the too cheap territory too early maybe?

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  2. Today will be a tough day. Everyone thinks that there will be no overt QE and gold and silver will get crushed. Usually the herd is wrong however the SPX has rallied so much in the past two weeks that overt QE would not be deployed by Ben. I truly have no idea what is going to happen......

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    1. all noise rudy....tune it out....any significant correction in miners is to be bought IMO....question is what kind of fib correction will they throw and when

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    2. it will vary from miner to miner of course

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  3. I'm going to get my physical buy at 1600 right here

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  4. Looks like the gamblers are betting against QE3

    Gold
    1,608.10
    -15.10
    -0.93%

    Hubz: Check your e-mail in a couple hours. I've got a good options story for ya.(with charts)

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  5. Hehehehehe,

    "You hate government of course”, “Try opening your eyes”, “Government is you”, “Or at least it was".

    Perfect words for the situation we find ourselves in and you’re RIGHT!!

    We have no one to blame but ourselves!

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  6. You guys on the East Coast will never know the joy of waking up at 6 AM to make a trade. Gawd I'm sleepy!

    But I made money today and it's a beautiful sunrise over the Cascade Mountains to my east.

    GL ALL. Shower time.

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    1. grats Jay......no love in my morning yet.....but i bet today provides some opps

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  7. rare earth players are all giddy today.
    MCP, AVL, REE are under some kind of short covering attack

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    1. suspicious right before the fomc too........hmmmmmm.....will fomc disappoint???? could be bad for metals and miners after announcement.....doesn't matter for me overall ....all short term noise...only if you are leveraged

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  8. You got that right, the brain can’t fire on all eight cylinders that early but I will admit I'm jealous of your view ;)

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  9. Well they are sending the PMs into the toilet already, it gives me hope that something big is coming.....

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  10. Just broke 1600 didn't make my buy......may regret....will see how the FOMC plays out

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  11. Well at least there's something to get excited about today , hopefully it goes our way, this trade is getting long in the tooth......

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    1. thats the plan tom.......hehehehehe....wear on your patience and flush you

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  12. Well they ain't, been sitting too long to get up but it would sure be nice to grab a few profitable chips off the table for my "Self-Esteem" and all…….. hehehehehe

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  13. stopped out on other 1/2 of GENE..someone is holding it down...I have a strange feeling it will rocket soon...but a stop is a stop..

    watching GALE with high interest...news at 9:30 AM

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  14. if you put an overlay over Silver of AUS/US pair, silver follows it closely with aussie moving first..

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  15. slv just took the blue pill...

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  16. Silver ramped on the Buisness Round Table news release..CEO's will be shrinking labor force in the2nd half of the year....

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  17. SVU,...I am the one that posted it, but never bought any. I thought it was going to pull back a bit more. Oh well.

    It still seems that SVM tends to sell off in the morning, and then recover somewhat in the afternoon.

    Waiting for Ben's report.

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  18. Yep Doc been watching. I think it could go too. Bought small Monday. Should take profits right here.

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  19. Well, it's official! No QE3!!!

    The market is tanking!

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  20. I honestly thought Ben was going to announce QE3 today. That's why I sold my puts this morning.

    Heck, I even thought he was going to announce it during the last meeting. I'm actually starting to gain a little respect for Ben. I think he's finally seeing the light. You cannot print your way out of a recession. It's never worked in the past.

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  21. Gold is starting to plunge. 1592 as I type this.

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  22. Wow the miners are coming back hard!

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    1. No joke! WOW... encouraging action for now. But who knows where we will be by the end of the day.

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    2. Gold holding at 1600 is encouraging was well..... Interest rates will continue to fall. Looks like 1% on the ten year is in the cards. GOLD and SILVER are looking great long term......Kli, is right, this short term crap is noise....

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    3. Also as we speak miners are mostly Green....

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    4. Looks like I will add some physical tonight, I got a letter from my bank that they are lowering my rate to .5%. It only going lower...... so damn sad!

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  23. statement is PM bullish...formal qe on the way.

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  24. Agree with Sheeps. Miners have turned around.

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  25. my guess slv at least closes green w/higher daily bars on the macd and a volume spike.

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  26. The negative interest rates make a bullish case for gold/silver. This should only make rates worse. They've really backed themselves into a corner on the metals.

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  27. Wow, that was a very interesting gold swing.... from 1592 to 1619 in about 10 minutes.

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  28. This was just another move down for the commercial shorts to cover

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  29. Damnit AUQ, get with the program :)

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  30. http://news.yahoo.com/blogs/ticket/obama-invokes-executive-privilege-holder-faces-contempt-vote-143710603.html

    Politics suck as dems and repubs are the same shit, 2 different piles...

    but the bam man protecting his AG who was way out of line and should be fired asap is rediculous..

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  31. Remember when every time Obama got on the TV the markets tanked? Now it's Ben.

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  32. just posted a PPP chart that I had annotated 2 days ago...looks like its following it nicely........heheheheheh

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  33. Jay it was Bush, not Obama if you're referencing 2008 and killing the Markets and my freaking tooth just got longer......

    Oh Well not today, wawawawaaaaaaaaaa……………..

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  34. Bull flag forming on AUMN dailly just posted the chart above

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  35. DCTH selling off. It went up to 1.55, so quite a swing.
    Will the boyz reload soon? I might take a chance.

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    1. I think it's being accumulated in the 1.40's..this is a medium term hold for me while adding

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    2. I think you are right about the accumulation. I will probably put in a bid tomorrow.

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  36. i wonder what the news on PPP will be coming up

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  37. watch miners closing but whether buying rolls in or not the action today is solid and bodes well

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    1. maybe...also keep an eye on the KGC hourly i just posted

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  38. the final story today is the FED will have to print until infinity.....today is only a speed bump.....I'll take the action. If they were going to short the miners they had their chance today. They're long and getting longer......

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    1. Yep today could've been much worse. Hell some miners closed green.

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    2. I thought they might to play it this way and so far so good

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  39. Fleckenstein also added: “I will say this, at least Bernanke admitted today that the Fed was wrong regarding the economy. That’s something the egomaniac Greenspan never did. I don’t think Bernanke is a bad guy in the same way Greenspan is, I just think he’s misguided. Greenspan was just a duplicitous and incompetent egomaniac.”

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  40. More great commentary as usual. I seriously don't think we have much control at all anymore...bought some ppp this am and it closed green! Also bought a little GV. (Maybe shouldn't post such heresy). BB in the worse position possible, Greenjeans just an abject fill-in-the-blank. And his wife stillllllll on NBS News.

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