Thursday, June 23, 2011


From Tyler at ZH:

People must be scratching their heads a little, since it seems, according the rose colour glasses world i) Greece fixed, ii) Contagion avoided, iii) economic soft patch is only a soft patch and no risk of double dip, and iv) Bernanke will be there for us.

Open thread.


  1. Surely this "little blip" downward is just the market reacting to Uncle Ben not immediately opening his purse strings like they hoped (and had priced in) he would?
    Or have my rose tinted specs got covered in shit again?

  2. Silver is a risk asset, moreso than gold. Really simple, really.

  3. So I assume that Owebama's call for "nation building" at home last night is in response to his to his two and a half year campaign of "nation destruction"?

  4. This is just the result of delevaring... One must sell commodities to pay his debt. Doesn't matter if it's the oil, silver or gold. To have money - he has to sell for any price, otherwise must declare bankrupcy..

    The problem is Greeks are withdrawing their money from greek banks. It's a massive movement. So in one, two weeks - banking sector in this country will be boiled. Then Portugal. Then Irland, then ... Spain, next .... Slovakia, then Poland and UK. You'll see..

  5. Buy December corn here boys you will thank me in Novemeber!

  6. This is from Turd's site.

    "Many of us wake up and find the US Price of gold to be dramatically down in a straight line and think "damn JP Morgan or EE," why the struggle? Well, I think it is noteworth to look across the pond and notice that Euro Gold (remember gold&silver are safe-havens against all fiat currencies) was trading as high as 1083 Euros/Oz of Gold before the raid happened. The all time high closing price of gold priced in Euros is 1083.74. I am thinking that today's raid was more about controlling other major currency denomination price of gold (with the positive side effect of pushing the "transitory inflation" Bernanke was just mentioning. People will look to confirm what the authority figure had said by noticing lower crude (gas) prices, so the perception management team is winning today).

    If Euro Gold was to just casually close at an all time (nominal) high on a random Thursday, you know there will be a raid to prevent this from happening.

    Just throwing this perspective out there, as the "EE" are controlling all prices of gold, and not just the US price of gold as many of us focus on (and try to profit on).

    Here is the Price of Euro Gold over the last 3 days, and then the last one year.

    Another pretty good read:

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  8. Did you pussies listen to me and buy Corn on the slam?

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  10. Easy Mike,
    Yes, I did.
    As soon as I saw your post I jumped in the Car and shot down to the Kroger.
    Cleaned the shelf. Got some strange looks so I know we are in early!
    Don't trade futures......that's speculation and that's BAD!
    Seriously,.....with the weather, demand, and who knows what else.....I am certain you are right with this call. I will stick with what I know.
    Let us know how it goes.
    Good luck!

  11. @MikeS

    6 contracts deep on corn, $50 strike on nov 11 calls.

    best of luck to us. MA is def. lookin' solid.

    good enough dip for me, i bought @ 43.40, so $2.15 options.

  12. Although the ETF is ok, the real trade is corn futures. Goldie was buying the AG break hard this morning. You will soon understand why I said buy.

    In addition to my Dec contracts I loaded Dec Corn Calls at the 650 strike. I can spread them with the 680s for a credit right now. Than a no lose trade and $1500/contract potential.

    Stay thirsty my friends. Corn will be > $8 before you know it

  13. Ledbedder...suck my corncob

  14. Mike: I was being nice, and now you're being a dick. We'll see, we'll see.

  15. I always knew you were a fag, Mike. There. There is my immature shot back at ya! (AND I'm sticking out my tongue)

  16. Silver is a risk asset? Is that what you think head?

    When I hear people regurgitating words like risk asset, organic growth, baked in the cake, risk premium, a diversified portfolio...I realize they are full of crap.

    Words and terms such as those above are from morons on cnbc and nitwits who repeat that garbage.

    Silver and gold are monetary. Metals. It's not our fault the majority of investors and traders have brain damage...and trade as such.