"The Decade of EPIC Begins"
Here's how it works: Create an "emergency", then pass laws to deal with that created emergency. The laws are never redacted and so when the shit hits the fan they will have all the laws that they ever wanted right at their fingertips. Why else are they waiting for the last minute to decide the debt ceiling raise? House Rules Committee votes to give Boehner "maximum flexibility" to alter debt limit bill By: Philip Klein | Senior Editorial Writer Follow Him @Philipaklein | 07/28/11 9:07 PMShort of votes to past the current version of House Speaker John Boehner's bill to raise the debt limit, Republicans on the Rules Committee voted to give their leader "maximum flexibility" to bring any negotiated changes to the House floor immediately."We were expecting a vote this evening, but obviously the votes weren't there," Rules Committee Chairman David Dreier, R-Calif., said as midnight approched. In order to make sure Congress is able to meet the Aug. 2 deadline to raise the debt ceiling, Dreier said the committee needed to give Boehner so-called "same day authority" that allows him to alter the bill as needed to win over the remaining votes, without having to go through the Rules Committee process each time.Democrats on the committee seized on reports that the reason Republican leadership didn't have enough votes was that conservative members were opposed to the new money for Pell grants. They accused Republicans of blaming students for the nation's debt woes."As of right now, it's apparent we don't have the votes for a number of reasons," Dreier said, declining to address the Pell grants issue. He said there were "different issues for different members."Rep. Jim McGovern blasted the Republicans' procedural move, calling it a "martial law rule." He said Dreier himself used to refer to it that way."That's when I was in the minority," Dreier responded candidly, to laughter.The rule was agreed to 8 to 4.The House is scheduled to open at 9 a.m. tomorrow, with no votes expected earlier than 11 a.m.Read more at the San Francisco Examiner: http://www.sfexaminer.com/blogs/beltway-confidential/2011/07/house-rules-committee-votes-give-boehner-maximum-flexibility-alte#ixzz1TVHSDm3M
November Soybeans (SX11) broke trendline. If we close below it, March lows will be broken before the end of the year. Currently up about $875 per contract since recommending on 7/25.
yay! i put a gold order in last night at 1612 as soon as i heard the news about Boner's vote cancellation. T/P at 1630, had a good sleep and an even better morning.USD headed straight down, gold ans silver headed straight..... well, down. Fuck me these are strange times.
I "misspoke" on my post from 11:11 am. It should read "currently up $875 per contract since I placed my trade on 7/25." I did recommend this trade to anyone but myself.
FUCK! I meant "did not recommend this trade to anyone but myself."
Shit Just Got Real: Primary Dealers Called To New York Fed For Emergency Noon MeetingFrom an email just sent out by Morgan Stanley's David Greenlaw:The NY Fed just asked primary dealers to come downtown today at noon to meet with Fed and Treasury Dept officials. We expect to hear them outline a contingency plan for next week. Details to follow. http://www.zerohedge.com/news/shit-just-got-real-primary-dealers-called-new-york-fed-noon-meeting
If corn closes anywhere near current levels, 663.50 basis Sept. will be resumption of downtrend.
ROFL! Bermonkey's finger is itching to push the print button. Guess it's time to long LULU - lol.
Biggest crisis in the US since WWII and the stock market is rising, PMs falling and POSX falling but not fast enough. Seems to me the 6 big banks Super Trading Computers are doing a bang up job. I wonder who owns E=MC2? Sons of bitchez - inflating the death spiral to grab a few more bucks from idiots still playing. Stupid is as stupid does!
If anyone wants some shit to trade for more phyzz, check out EXPE. That gap was caused by the pros, so wait for the amateurs to come in thinking they're some genius swing traders. It should be a bloodbath.
Good article:http://seekingalpha.com/article/283081-debt-downgrade-drama-you-ain-t-seen-nothin-yet?source=yahoo"However, I will stick with my macro thesis. I want my readers well positioned in physical gold and silver and positioned in the silver ETF (SLV), the gold ETF (GLD) and the gold miners ETF (GDX). No matter what happens in Congress – “you ain’t seen nothin’ yet.” Disclosure: I am long GLD, SLV.
Wow! He loves JPM, the owner of all those ETF's!
Ha Ha hA! this blog is a hoot!
Wish Google would make up its mind! Felix or dasPro, I don't give a shit but be consistent damn it!
OK, lets put our Big Boy pants on and figure out who stands to gain by hyping PM on the "eve of discontent."IF the masses buy into this doom and gloom scenario and put their collective eggs into the PM basket then someone could clean up!
dasPro, You have a better investment, safe hedge, or superior method of holding your wealth? Or do you have any?
@malcolm short answer - no. And, as I have stated previously, I may or may not possess silver which "may have been lost in an unfortunate boating accident."The investing public will utter a sigh of relief when this debt ceiling thing blows over and PM will correct. but, don't follow me!
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No, lol.I would never put "all" my PM's in one boat :)Ok, so your without Ag, what about Au, food, water, lead, steel and copper?I dont understand ppl! Normalcy Bias!
@ledbedder honestly... you guys are a clever bunch who say it like it is. I use to frequent a NG blog that I thought was good but I get FAR AND AWAY better access to important information HERE! The links are OUTSTANDING!I'll ignore that POS reference :-) There have been noxious fumes emanating from your side of the table :-)So... you don't think PM will correct next week?!
i love people who call it doom and gloom. it is what it is. no fancy terms needed.what a "hoot".
They always have corrections. Do you not look at the charts? I call it ebb and flo...don't know what you call it. No market goes straight up or down. You wanna pick the bottom for next week, post it. Does NG stand for Natural Gas? Other than that, I have no idea what you're talking about. Hey, if you don't like it here, go away.
@dasPro: you want to speak "formal" terms, you let them rip any time you want. I'm here.
Mike S: if you are still long corn, I suggest you either get out of your spreads or buy some puts. Finishing below support.
Hmmmm, seams I have been misunderstood - That's what I get for trying to be clever :-(I will not admit to owning physical because things could get HOT when the precious US $ can no longer buy a stick of gum. No one need to know how much I process (if any).My reference to the masses was directed at others - not people here. Anyone with a basic education can figure out that PM will correct.But, let me be clear, today is not the day to be telling people to buy Gold or Silver. The charts want to suck us in .. resist .. resist.. my friends.
Funny, I was over at Turd's blog yesterday and everyone was buying miner shares and option calls. I was like hey, maybe you guys should wait until this "Debt Show" is over. I mean even though options expired yesterday, doesnt mean TPTB arent looking for an excuse to hit the metals.
Anyone think its worth buying matching calls and puts throught this debacle? Surely the one thing that we can be sure won't happen is gold and silver flatline until monday close?
Anthemius, I think it's a great idea ...I just bought a put contract AND a call contract, sept. 17, on NYSE:SPY, ATM at 130$ ...I will hold both options until late next week or week after. There is lot of volatility right now in the market and I want to make a profit out of this ... If nothing happens on the market, I can always resale the options because there will still be some time-money left in it...
DEAR CONGRESS, Last year I mismanaged my funds, and this year my family and I cannot decide on a budget. Until we have come to a unified decision that fits all our needs and interests, we will have to shut down our checkbook and will no longer be able to pay our taxes. I'm sure you will understand. Thank you very much for setting an example we can all follow.
"No one need to know how much I process (if any)."daspro what the hell are you talking about? why would anyone care if you own phys or not... sounds like you need to put on your tin foil hat and head back to maxkeiser.com
maradv,i think you're a little more bulletproof than you think. loose lips sink ships, baby.;) not hatin', just tryna get all of us on the same page.
Guys serious shit just hit the fan!This guy has picked up two separate volcanic plumes in California. See for yourself and USGS keeps trying to hide it but the cat is about out. See for yourself... No joke guys check this shit out! Could be a major earthquake coming for cali or more.http://www.youtube.com/user/dutchsinse#p/u/1/xb-BBY7pxZU
Went out to eat last night. For fun, I tried to pay with a silver eagle. Took the 19 yr. old female waitress about 2 minutes to come back. She said she couldn't take it because "it was only a dollar". So, I paid with fiat & when she brought my change back, I tried quickly to explain. I gave her a dollar of fiat. Then the eagle. I asked her which one felt like it had more value. She said the eagle. At 19, I guess getting 50% right is an achievement. LOL.
@Jasper: watched the video. Doesn't look like anywhere near a coastline, unless I missed something. So, my question, or statement is: so? Earthquakes happen all of the time. Stuff gets destroyed, people recover & move on. I don't study earthquakes or after shocks, so if I a missing something, please explain it to me. Thanks.
Ask WU, he'd probably know lol.
Isn't a debt default deflationary? That means silver will drop no?AC
The world reserve currency will not default outright as it has the ability to print to infinity. What we will get is a worthless currency and this is why we are on this Gold/Silver train to begin with. It's not about getting rich it's about preservation of a lifetime worth of work.
Led, what it means is serious pressure is building. Think San Fran or LA earthquake. Then QE 200 and martial law down there. It's the 6th biggest economy in the world. Hell that's bigger than all of Canada...