You know, I could say something to start this off like, "What a day. Wow" or "Markets plunge!" but I wont. There are billions of helpless souls out there.
I was driving home today, looking from side to side saying, "Do you think he's prepared?" or "Shit. That motherfucker is in for it soon."
We are a few. Realize that. Feel special about it. You are the informed. You are the new chosen people (those that hold the phyzz...and guns). Its time to celebrate! Grab your favorite drink. Turn out some pussy tonight. Because I have some scenarios for you below (which were already explained on the Bears vid, which can be viewed Click here ... that are coming to fruition quicker than most can comprehend.
At 2:15 tomorrow we will see two outcomes, which should be no surprise to anyone as Shalom Bernanke starts talking about transitory this, and no inflation that.
a. Ben hints at some form of printing, PM's and equities move, and squeeze shorts like lemons.
b. Ben needs more of a capitulation in order to sell it easier to Congress to pass another 5 trillion. If Ben does NOT print tomorrow, get out your popcorn. Because at this point, no one is DUMB enough to buy this ponzi. DO NOT THINK THIS IS OVERSOLD. I made that poor judgment call in 2008. Dont pick this bottom by looking at charts.
I saw many financial fucktards coming on saying "This is a great time to buy the dividend paying stocks, the big funds are stepping in right now."
Are you fucked? My contacts dumped all their LONG TERM BLUE CHIPS on Wednesday. Will they buy after QE3/money print ponzi is official...sure...who knows, all I know is that they sold. And they are laughing now.
I sat there starring at my monitor today, and it took me back to 2008. It almost feels identical. Oh wait. It is identical. So if the past is any indication of future events, we have already seen the future.
Moving on.
I would like to disseminate some facts as I am picking up some new bloggers everyday. First off, I/we/she will be launching silvergoldsilver.com again, and will incorporate a forum, chat, blog etc similar to Turds. I cant keep up with the amount of idiosy/spamming on here now, so its time to evolve so the moderators can control the trolls better and we can focus on the task at hand.
Whats that task? Some may think I have alternative means for operating this blog. I would like to make it clear I have ZERO affiliation with Zerohedge. I have no affiliation with Tinka Resources or any other Junior miner I mention. I would recommend reading the disclaimer below before reading each and every read as this blog is for entertainment only. And it gets very entertaining sometimes.
Good things come to those who wait...lets wait this one out shall we?
Thats all for tonight, I have been on the computer all day. Drink some koolaid, and get ready for tomorrow, it should be EPIC. Godspeed.
"Fiscal tightness", if I said this anti bollox in my field I would never be able to get a job again!
ReplyDeletehttp://finance.yahoo.com/video/cnbc-22844419/two-commodities-two-paths-gold-oil-26223535
Lets hope Silver does not do a 2008! I think Gold will stop that!
Most analysts seem to think QE3 being puked out by Benji is a given later today.
ReplyDeleteI don't. I think he wants the markets to tank a lot more than this before 'coming to the rescue'.
Carnage ensues.
Oil to test $76, SPX to test 1050, Dow below 10,000 and what would be really interesting is if Gold surpasses Jim Sinclair's $1764 technical level.
He claims parabolic from there onwards - who said $2500 before year end, oh wasn't that JPM!!!!!
SGS, as always your vision and humour much appreciated.
Stay safe all - I'm interested in others thoughts/predictions just for the helluvit.
I just don't see gold holding on if Ben doesn't print. Doesn't make a damn bit of sense. Sure, gold might go down "less" relative to other hard assets, but relative to that ugly shit in your pocket called dollars it will plummet.
ReplyDeleteHe doesn't need congressional approval to print 5 trillion. Sure he might piss some ppl off but most of them will bow in deference to his supposed financial wizardry.
I have a small long position on stocks right now that is currently giving me an ass raping, and it may very well go to zero if Ben plugs his ears, closes his eyes, and screams "la la la la la" during tomorrow's FOMC meeting.
why is Ag still dropping?
ReplyDeleteI have gained on the metal aswell as the dropping Aussie dollar, how will QE3 effect AUD?
ReplyDeleteSilver dropping in after market. Still viewed as industrial usage will hinder perfromance. Looks like like it needs to test 36ish again. Hope it holds.
ReplyDeleteWell for all the buyers of gold and silver, still looks like alot of upside.
ReplyDeleteWith the current economy and issues, not much is going to change.
Silver should have a catch up soon
http://www.dailyjobcuts.com
Gold is officially more expensive than Platinum!
ReplyDeleteSilver/Gold ratio still expanding! If Gold g
Riots in my home country coming here soon, then martial law! I cannot believe that I am thinking of buying a hand gun! Why did I decide to have kids who have to live through this in their early years! This is seriously getting depressing! I do not want to be PM wealthy and living in a Mad Max movie!
http://www.bbc.co.uk/news/uk-england-london-14450248
It will be mostly b: the Bernake wants more "capitulation" but will print for kicks and giggles but won't tell anyone. He will be nebulas to the max, like the Sphinx in Egypt. Shalom in the home dude! :)
ReplyDeleteThank god silver is not moving...this will enable us to catch an even bigger move on open and possible buy some phyzz. $1740. Wow. Big deal. Should saying $5601 wow.
ReplyDeleteI believe one of two things is going to happen, and it should be resolved over the next day to several days. This divergence between gold and silver won't hold. Either gold comes crashing down or silver explodes to the upside. I think the outcome depends on what comes out of the FOMC meeting tomorrow. If I'm wrong and Ben prints and gold continues going up while silver continues shitting itself, then I'll reposition.
ReplyDeleteDamn, this is getting good! Silver Bears 7 comes out, couple days later it all happens! SGS, better get to work on Silver Bears 8 soon. At this rate we will be approaching the 9th inning in a month of two! What a day!
ReplyDeleteOil @ 76 down 5% in asia is keeping silver down right now.
ReplyDeleteFOMC here we come baby! Be quick on the keyboard the platforms will crash with stickies everywhere!
Wow, Asia getting hammered.
ReplyDeleteDOW might be down 10% tomorrow even before Ben opens his gob!
Tomorrow, wow, not sure I am going to get much work done!
the past few days have been insane to watch.
ReplyDeleteSinclair's gold $1,764 number is very close ($1,740), at which point he says gold goes parabolic. Why the fuck is silver down $2 after this morning Asia? Silver hast to be the most shorted commodity in the history of the world. Does it have any possibility of breaching $40?
ReplyDeleteCan we expect a quadruple margin hike on gold? Why has the CME not called a 100% payment up front gold? What are they waiting for?
That will just give him the excuse to print then. "Oh Ben the Saviour" I can see it now...
ReplyDeleteChinese consumer prices accelerated further to 6.5% in July from 6.4% in the previous month, official data showed Tuesday, beating expectations and keeping alive the prospect that Beijing may maintain a restrictive monetary policy.
ReplyDeleteWell China is about to take it up the ass even more. Crazy shit.
SGS do you have any gold positions?
KAM.V
ReplyDeleteBuckanear2 He said higher probability of it going parabolic, not that it will.
ReplyDeleteSince I loaded the boat years ago on PM's, I'm ambivalent on the price right now. When they break from fiatdom, they will break hard, but when? Who knows? Right now, I'm looking at the energy sector. How low is the question, but the weakness will be short lived. And there is a way to get some phyzz, propane. It stores forever, unlike gasoline, and will be worth its weight in gold in the coming crisis.
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteSGS if gold and platinum are at 1:1 does that mean platinum is undervalued aswell?
ReplyDeletewhat does platinum do from here, is it prudent to buy investment platinum coins?
ReplyDeleteMy advice for this market: Remember 2008: deleveraging. Oil goes below 45, buy it. copper goes below $2, buy it. the bankers are the pigs and their going to get slaughtered and have to sell their commodity positions at any price. Same thing happens as 2008. We started crashing from the same prices in everything but the precious metals. Nymex crude oil was at 115 two months ago. just study the 10 year charts here on all commodities except gold and silver. Silver is offering an investment opportunity here, its the only blanket buying opportunity
silver's positive again, look for %3 up days every day here on out. Someone said the asian markets are epically horrible tonight, and silver was down .5% well europeans open next and most of them have that 15% vat tax on silver so they dont give a shit about it (except for the swiss), but american buying will lift price consistenly tomorrow. I for one am hoping it isn't an big up day so I can buy my 4 daily ounces at a good price.
ReplyDelete"...this blog is for entertainment only. And it gets very entertaining sometimes."
ReplyDeleteIndeed it does. Looking forward to your .com.
Hopefully there is some kind of real course set tomorrow. I've had enough late nights watching this drama unfold.
Interesting day so far. Before getting some shut eye, I offered up
ReplyDelete$76 Oil (dropped to $75.68), SPX 1050 (hit 1079), Dow 10,000 (10,444 lowest), reasonable success, sadly didn't stay down there, but Gold hit through the intriguing Sinclair $1764 up to $1772. Still at $1750 and rising. No parabolic yet.
On this info I can't see The Bernanke QE3ing today, those numbers would have to have gone lower than my suggestions, with a rally up from the lows, surely the impetus is not there?
Now if there is no hint, we should get some proper fireworks.
Either way looks good for gold and silver to me. Safe haven or Hyperinflation.
Thanks Ben.