Wednesday, November 14, 2012

"AND THIS TIME ITS LEGAL"

"Why Johnny Ringo.....you look like somebody just walked all over your grave"
As if to place an exclamation mark on art imitating life the boyz slaughtered the hapless longs in the PM trade today. Using a series of bullish technical formations and fundamental stories as bait for the hungry PM longs the ambush was sprung today with a horrific massacre of the PM equities. Like the bullet from Doc Holliday that dropped Johnny Ringo so went the margin calls on the momo miner longs. Now don't misunderstand me, I still like the trade longer term but no one can deny that today provided some serious damage to the technical picture in miners. Of course noteworthy was the performance of the spot metal price holding its own in a severely bearish market move. THAT IS WHY YOU STACK. However many of us like to play in the casino with our paper and today was discouraging. 

Back to reality. It IS legal because THEY CAN. THEY are the house and they ARE THE LAW. You see.......this is collusion between the cartel and the gov......so don't be surprised and save yourself some anguish and accept the house rules. THEY ARE THE HOUSE RULES. You have been warned on this blog that you are in their casino. Now having made these statements I want to make another statement that you may find contradictory but I don't intend it to be. Even though they have seemingly no limitations to their power in this trade I would have to take some exception. THEY do have limitations. Yes......the same old worn out limitation......NATURE. You see....nature is not making anymore gold. A lot of very smart money knows this and they are accumulating physical just as fast as the cartel beats it down. In fact they aid in the beatdowns of the physical price. YOU SEE......there are more players in this game than us little retail sheeple. Of course the cartel still owns a monstrous amount of physical gold......(BUT NOT SILVER)...and they will only part will a limited amount of their physical even though they have and will continue to lease many times more than they control.....but most people will NEVER SEE THAT PAPER PHYSICAL......NEVER EVER! In fact in many cases if you read the fine print its EVEN LEGAL.....many people that believe they own allocated physical will either be left holding air OR they will be paid off in fiat. Fiat that may be virtually worthless compared to the metal they thought they owned. . My hypocrisy only goes so far.  Doc Holliday to Wyatt.  Of course for the Cartel there is NO "to far"....that is where the sheep always stumble believing they might have a limit to their evil. ......Once again I want to remind you the Law of Nature does limit them so have patience. 

25 comments:

  1. I was out and didn't even realized my pocket was being picked...had a scary day...seeing some 50's crosssing 200s only to have the stocks fall, clever devils they are. And all this with the actual metals up. Couldn't agree more with Ron Paul's farewell speech. Just to clarify (again), you're saying there is no safety in cef, phys, pslv? Thanks as always.

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  2. relative safety in them perhaps compared to most of the "other" etfs like SLV GLD etc.....but certainly NOT complete safety......even the miners are not safe as paper but holding the actual certificates does help.....Red may want to comment more specifically but I prefer to leave it at "paper is paper" or "its not worth the paper its written on" Once we started down the road of lawlessness...and we are way down that road ...then all paper bets are off....MF Global as Ann Barnhardt to eloquently says was the straw that broke the camels back......

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  3. and yes.....I know.....I'm still in the paper casino......so .......craps is VERY possible

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  4. The issuer or the custodian of the ETF goes tits up. You get to wait in line with other creditors. Let's take Sprott and their claims of holding gold at the Royal Canadian Mint, another corporation than can go tits up even if it is acting as an agent of the Canadian government. Don't forget clauses like force majeure, (war, earthquake, or government just went bankrupt and is rioting in the streets). Even if the physical is located in the so mentioned vaults in the quantities stated (highly unlikely), the ownership of the vaults may transfer to the lien holder, the national government or bank cartel that is helping to bail them out. Shareholders are s.o.l. and can hang out with Enron alumni.

    Even the events in Gaza and the recent episode of Days of our CIA Lives are just distractions to shift focus. You will get a very clear picture by the end of the year - either the start of controlled de-leveraging with printing presses running in the back, or last one in the government bunker gets lynched by the angry mobs.

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    1. as usual......succinct and scathingly correct

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  5. Several months ago I wrote and asked whether it would be a good idea to have a Self directed IRA to hold PM's. The PM's would be held in a segregated account in my name at a depository.
    "Red" wrote back that it was a bad idea and there is no such thing a safe segregated account.

    Well, it looks like Red was right. See article below. You have to take actual possession.

    http://www.washingtonsblog.com/2012/07/beware-allocated-gold-may-not-really-be-there.html

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    1. my first reaction to any facility that claims "allocated gold" is that its probably NOT going to be their if you need it. Gold is just TOO critical to all the players in this game to expect it to be there for YOU when things get dicey....mind you I did NOT say when the SHTF but I said "dicey".....If we get a SHTF scenario I do not believe ANY gold will be available anywhere and CERTAINLY NOT IN STORAGE facilities or ETFs etc.

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    2. I had gold in an IRA for a while but then came to my senses and took it out, paid the penalty and associated tax. I do have some stored with GoldMoney in Hong Kong which I know is at risk although I feel it is still safer stored with a third party in Asia than with a third party in the Western world.

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    3. damn funny but so true...just don't buy Chinese stocks :)

      seeing selective buying of miners on opex...

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  6. thank you cartel for the physical purchase discount...:-)

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  7. Just so we are in the know how the market works..

    http://s8.postimage.org/o1nkk2y2t/Fed_Rate_Spx_500_71_current.jpg

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  8. lets see if silver holds 32.50 today

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  9. Just to repeat myself......THIS IS A GIFT...purchasing physical here with reality looming ahead will seem just that .....A GIFT....so while we are bored today with the game recheck your preparation......IF you don't have the physical you want then take the time today.

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  10. There goes 32.50...GE Christianson saying exactly what you are saying: http://news.goldseek.com/GoldSeek/1352993049.php

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  11. It looks like miner shake out move is almost done....the net buy line is 32.68
    100hr sma seems to be bounce pt..

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  12. Hello folks,

    1st time poster, long time reader. Appreciate all of the thoughts from everyone as we go through the next phase of meltdown, USA. I bought physical American Silver Eagles today. Are there any other types silver physical that I should consider as a storage of wealth. What types of gold. Some have suggested actual rings earrings and other 14 ca. would be as good as any other. Thoughts?

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    1. junk gold is a VERY good way to own gold 14k jewelry GREAT

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  13. i know this is beating a dead horse but this is getting VERY long in the tooth for a reason....the entire fiat system is at risk and they are desperate on holding the gold and silver JPM short position.....eventually they will have to retreat and reposition or they will get over ran.....and that will be explosive...hang on

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  14. KWN I stated last week that 2013 would be a very difficult year. The statistics I am discussing with you today are just signals of things to come. I think 2013 will be an annus horribilis, and people can expect to see major change. I am not a pessimist by nature, but I am a realist, and right now investors need to be warned about what is coming.

    It is important to warn investors about the risks and to help protect against these risks. The risks going forward are greater than ever. Where we are at this moment reminds me very much of what Brutus said in Shakespeare’s Julius Caesar:

    ‘There is a tide in the affairs of men, which taken at the flood leads on to fortune; omitted,
    all the voyage of their life is bound in shallows and in miseries. On such a full sea we
    are now afloat; and we must take the current when it serves, or lose our ventures.’

    I think that’s where we are now. Investors who make the right choice have a chance to protect themselves. Investors who make the wrong choice, they stand to lose everything.”

    Greyerz also added: “It’s very interesting that silver is holding up better than gold. Normally, if there is a move down in the metals, silver plunges the most. To me, silver holding up, and this is a sign that we are very near the end of this correction.”

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  15. Just catching up on some Martin Armstrong reading and he says that dealers can no longer pay cash for gold in France. So deduce that this scenario will spread. Any further info on this would be appreciated.

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    1. here ya go

      http://lewrockwell.com/slavo/slavo59.1.html

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  17. Sheeps,

    Just found your comment from the other night and thanks for the advice, I just used the twelve hour example with the gen to illustrate my stupidity on not thinking though calculating my fuel needs, ironically due to the fact I needed to fill the gen hourly, which got old really fast, only ran it three hours in am to cool down reg/freezer and charge what needed to be charged and off for a good part of the day and back on for three at night for ref/freezer and light.

    I also picked up a few boxes of Glad Freezer Ware to freeze water and stacks neatly, appeals to my ocd……. You also inspired me to go dig for and through my old camping bin, forgot I had a couple of Coleman Propane Lanterns and two Burner Stove and some other assorted goodies….. Just fired up one of the lanterns after replacing the mantle, forgot how bright they were! One other thing I thought useful to go along with my new hiking shoes was a few cans of Bear Spray, never know when the wild life’s going to jump out in front of you while hiking the trails….

    Passing along the list to the family and neighbors with the thought in mind the better prepared they are the less of my stuff they’ll need! Funny thing is folks are no longer mocking me they are actually listening!!!!! To your question Why? Suppose when you strip away all the BS and get down to brass tacks, ain’t we all hardwired to do just that, Live!

    Thanks Again!!

    LIPA Update:

    CYA and Finger Pointing are just getting started……..

    http://www.wric.com/story/20101061/ny-utilities-con-ed-lipa-subpoenaed-in-sandy-work

    Just a little history….

    http://en.wikipedia.org/wiki/Long_Island_Power_Authority

    LIPA is a Quasi-State Government run agency and one wonders WHY it’s the model of efficiency hehehehe!! LIPA is sort of similar to the Port Authority of NY/NJ and if you live round these parts, I needn’t say more! Funny part about all this is guess who gets to appoint the brain trust that runs LIPA…. The same folks throwing around those suuuepeenie’s, Hint they all hang together in Albany. I find it somewhat ironic that our current Governor’s “Pappy” set up LIPA to rid us of the evil private utility company LILCO…… hehehehe should be a fun show to watch!

    Can’t say we don’t have a sense of humor……….

    http://www.youtube.com/watch?v=ApfM0lW2OjU

    Good stuff today Kli thanks for keep reality front and center!



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  18. I have not watched the movie but thanks for sharing this review. This link will get you to a wonderful blog space where different articles are posted. You should like what you are about to read.

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