Well the day has come, and the auxiliary events that surround it are sporadically correlated to say the least. We have a Hurricane headed straight towards that rat infested puke village Manhattan, we have a BEA GDP coming out at 8:30, and then we have Jesus himself, speaking at 10 from cornhole. Now I compare him to Jesus here for several reasons. Most importantly, I compare him to the Messiah because the entire WORLD will be listening to the kyfe that wallows out of his gap tomorrow. How did one entity, one chairsatan, one Shalom in the home get so much power? He will literally bring the world to its fucking knees and beg him to print that worthless presidential faced linen that buys you japan made radiated flatscreens before hes done with you. How America is not in flames from protest just goes to show you how high, drunk, and fucked up that society is.
Moving on.
I dont see any outcomes for tomorrow. Events like this always have the anti climatic ending as the big boys on both sides have already made their bets. Some say 1000 pts up, some say 1000 pts down, some say gold to $2000 others are saying metals will get crushed.
Who fucking cares. If you are still waiting around and dont have an enormous pile of physical silver and gold, from when we have been yelling from the tops of our lungs from $15/ounce to $50 and then back down to $33, YOU WILL NEVER PULL THE TRIGGER IN THE RIGHT SPOT and will buy it at $100, $200 and $1000 and bitch and moan when the bubble goes pop and it comes all the way back down to $2/oz.
Sorry I'm yelling with caps, but the amounts of emails I get asking if now is the right time at $42.78 or $29.56 is a fools game (IF YOU ARE BUYING PHYZZ).
As Jim S said today, "I have told you time and time again that gold will be violent in its exponential stage. What you have seen is nothing compared to what is to come. Truth be known, this kitchen is going to get hotter by the day so if you cannot handle the heat sell partially at each Angel until you have cut yourself back to the sleeping well size position...For heaven’s sake stop barfing into weakness. Stop selling weakness and buying strength. That is a kindergarten type error."Click here to see the rest...
If I am wrong then I am wrong, but my trades will be reactionary tomorrow as I am relatively flat, and the big reaction will be by about Wednesday of next week when that loud sucking sound is the audiable again. Listen to Jesus tomorrow, because hes being treated like he walks on water.
That was Jim Sinclair, not Jim Rickards.
ReplyDeleteThis comment has been removed by the author.
ReplyDeletehttp://harveyorgan.blogspot.com/
ReplyDeleteThe CONFIRMED volume yesterday at the gold comex was a super monstrous 483,444 with NO SWITCHES. My goodness, the bankers decided to throw the kitchen sink, the bathtub, their mother-in-law, everything was thrown in trying to quell gold's demand and reduce its price. And the OI reduced by only 8500 contracts????
The total silver comex OI fell by only 2489 contracts from 122,543 to 120,054. There is no question that silver is in strong hands and it will be difficult to lodge the silver leaves from its tree.
It goes with contrarian reason than Bennie Boy is not going to print but puke up rehashed lines and mention keeping a close eye on things.
ReplyDeleteMy take is BOA knows no printing hence they did the deal with blow hard Buffet. They had to cushion them before the blow out.
@Adam, one last thing. -I was thinking about buying both steep puts AND calls. That way I only lose if nothing major happens in either direction. Otherwise, like I said, I'll have a finger on SDS and SPY waiting for the dealer's word tomorrow morning.
ReplyDeleteI realize SGS just said he sees an anticlimactic ending, but it could be worth throwing some kibble at.
@SGS - Nice of you to post that. Thanks buddy.
ReplyDeleteOne question for all the stackers out there, "When do you reach the point where enough enough and you begin cheering for vertical explosions in the sky?" Because I'm not there yet, never cheered for that out of greed for wanting to build higher stacks.
ReplyDeleteI'm a small timer with just a few hundred oz's. Every time the metals lurch forward I feel sick to my stomach because I don't have what I consider to be enough of the stuff.
I buy the dips, of course, and it never fails to feel right.
I just wonder if it's ever going to go away or should I expect to always feel this way?
Well I did it. I went 60% phys today. silver @2.5% above spot. on the receipt my name is cash. I like that. My paranoia was extreme. And I hate my bank. all glass facade so everyone can see me pulling money out. god damn it. fuck B of A. kept double checking no one was following me.
ReplyDeleteAnd yes, as always, thanks so much for everything you do here SGS. I just donated (gotta get it in before the further debasement of USD).
ReplyDeleteThank you to everyone else in here for that matter. I've learned a lot, gotten a lot of good ideas from you guys. *salute*
@foofoojin, haha! I left BofA about six months ago for a local credit union. WHAAAT a feeling, let me tellya. If you ever do it just be careful not to trip any fees for lack of funds etc. on your way out. It can be tricky.
ReplyDeletesilvergoldsilver you are one funny motherfucker! i love you man. keep the faith.
ReplyDeleteThe Color,
ReplyDeleteI buy every week and I'm in the thousands of ounces! Fuck the price. I've bought @ 12, 17, 29, 35, 44, and gold @ 1100, 1200, 1300 some @ 1600 and will be buying when they get my 2012 Lunar coins in!
I will keep buying until:
A) we have a new monetary system
B) I can buy the Dow with an ounce of gold
C) well thats about it, the only two reason to stop and even then I would be collecting because after all its just money!
@SGS,
ReplyDeleteThat is some on your best fucking commentary! "print that worthless presidential faced linen that buys you japan made radiated flatscreens"
Truth be told its all in the water!
Revolutions are only determined and fought by less than 15% more like 5% yet everyone else get to ride their coat tails!
@The_Color
ReplyDeleteIf it wasn't for very strong feeling that I know they put me on the do not fuck with list in the computer I would have a long time ago. what I did was not touch my account for 2 months. Then closed it out. 6 months later I reopened it. I think there system Flags that I know how to and am willing to drop them. and no problems for 2 years. then a cash deposit to the teller disappeared over night and I raised hell in that branch for an hour and 15 minutes. preying I could find that deposit slip. 5 days later and one barely legible piece of paper. I got it back.
(disclaimer:I own BAC as a hedge against Silver)
@Malcom, it almost seems the blog is much about nothing in that regard. =)
ReplyDeleteThe rest is either just noise and/or fun.
@foofoojin
ReplyDeletehahahaha!!! so THAT's the trick? I left Wellsfargo in a rage and unknowingly went from point A to point B of A. It was like a trip to nowhere.
so far i am loving Star One credit union. plus, it's easier to bet against a bank that you aren't with!
Well,
ReplyDeleteIts only noise if your not listening or paying attention. I guess, if your not trading or buying stocks then I can see your position. But I've learned a shit load between here and Turds blog.
Anyway, good luck!
@malcom, not to trivialize, only to lighten the perspective. i'm very thankful for what i've learned here.
ReplyDeletefrom a strictly metals position it seems to be as Faber says, "buy a little bit every month" (and maybe more in the dips)
on the really down days, and the high flying ones too i guess, this perspective could be useful. we're supposed to detach ourselves emotionally from our investment choices but what fun is there in that??
NP!
ReplyDeleteYes is called averaging in. Love Faber, he doesn't bite his tongue.
No, if someone was to try and take my money or any of my possession's, I get pretty emotional aka violent!
I picked up some puts on the DIA today and also some puts on BAC after it popped this morning thanks to uncle warren. These are nothing more than a few lotto tickets that if they hit I'll cash out and continue to buy additional physical as well as more guns and ammo.
ReplyDeleteEpic rant in paragraph 1. Well done, sir.
ReplyDelete@PaidInGold...
ReplyDeleteThat's some funny shit!!!
I just saw Buffet at the $5B BAC Buffet, he was snacking on a one day $500M capitalization increase. Just think, he could start selling his holdings for a cool $2B in a couple weeks. Keep this up and the Buffster will play the Bruce Wayne of Wash-Ham City and Benji can play Robin. Barrak Hussein would make a good Alfred Pennyworth b/c he really doesn't do much but he's a cool guy!
ReplyDeleteI'm not buying precious metals because some day they're going to get me a big house, a nice car and all the other materialistic crap. I'm buying precious metals because there comes a time where you have to put your foot down. I've had enough of the inbred, superstitious owl worshipers and their crazy rituals and sacrifices.
ReplyDeleteI want to see a world where I can savor every breath of air I take, where our collective talents are not constrained by some demented, arbitrarily imposed ideologies devised by cretins who can barely count.
I want to see unimpeded progress. When I first modeled the airflow around stator blades in gas turbines, I was amazed by the process of film cooling. Eternal respect to the materials and aerothermodynamics engineers who spent countless hours perfecting the process. Why are the teams producing these beautiful works of art in debt to a bunch of worthless sacks of mucus?
This monetary system must end. The cretins involved in it will have nothing to do with the affairs of man ever again. Period.
SGS...good post. Spot on in all regards.
ReplyDelete@yousif
ReplyDeleteCouldn't agree more.
@Yousif,
ReplyDeleteWell written! May I ask are you and engineer?
I bought 500 more shares of PHS.U early this morning. I bought one ounce of gold last week at CAD$1860. I buy another sack of rice or a sack of lentils here and there. I bought another 750 rounds of .45ACP and .223 last week. Etc., etc... I just buy stuff important to me and continually averaging in in moderation and occasionally stepping in big if the fancy strikes.
ReplyDeleteWe're doing the right thing, do what you can. We have all found ourselves in blogs like this, Turd's, etc. for a reason. Because we're ready and it is our time to do what's right IMHO.
"How America is not in flames from protest just goes to show you how high, drunk, and fucked up that society is."
It's truth like that that keeps me coming back. Canada is no better BTW in terms of the average person's perception of reality.
Many thanks SGS.
Bob Chapman Exposed, What you didn't Know?
ReplyDeletehttp://www.youtube.com/watch?v=dUiPwqmZX4o
******************************************
When the collaspe comes, Paper will be pretty much worthless.. At todays rates your old copper pennies are worth about three cents apiece Nickles are made out of Nickle..lol there worth about eight cent apiece.. Look for Value.. I don't look at the dates to seperate pennies, I just slide them across a scale.. They are heavier than Zinc.. And even Zinc has a value.. Paper/cloth money doesn't ! I think Copper and nickle will become mans Next poor mans gold..lol So if there is a run at the banks for Fiat, request coins..lol
ReplyDelete@bflowers1- Nickels are made out of copper.
ReplyDeleteThis is classic Jim Willie!
ReplyDeletehttp://www.contraryinvestorscafe.com/wp-content/uploads/2011/08/08252011willie.mp3
@yousif, there should be some real financial education inherent in a public or for profit school system, so those aerospace engineers can figure out a way to organize finance themselves. Instead their options are 25% annual interest to angel investors, or 7% collateralized adjustable rate loans from citibank. Instead we STILL have only have "keynesian economics" and "fixed income investing" in college finance courses I took. Colleges all use the same four or five economics, and accounting textbooks. In 2004 and 05 I knew fixed income investing premises were bullshit and I shared voluminously with all my peers and professors... who just laughed and now I was right... fuckers
ReplyDeleteI just got off the phone with Shalom, this is what he'll do tomorrow:
ReplyDelete> Wake up at 11AM
> coffee, scarf a lb of bacon
> deposit in porcelain thrown
> carefully trim his beard
> pick his teeth in the mirror
> practice these lines:
Inflation is steady to falling; the economy is showing signs of growth; unemployment claims are falling; we are watching for signs of stress and we will act if necessary - "oh shit I've used up my allotted time L8er"!
SGS, this is from Eric De Groot's site that Santa often references. http://edegrootinsights.blogspot.com/
ReplyDeleteAlso, the GLD Puke Indicator (buy signal triggers whenever GLD tonnes
in trust drop >1% in one day) flashed two consecutive buy signals, the
23rd & 24th. It's been incredibly accurate, and the last time a double
signal happened was in September of 2008 just before gold rose from
about $750 to over $900. It coincides very nicely with your
statistical concentration studies.
SGS,
ReplyDeleteThis country should be burning but no one here gives a shit. Everyone is a slave to the tv or their own petty lives. No one knows history or even current events and yet everyone is up to date on Jersey Hore. The Super Congress that was snuck through and the real reason for the debt ceiling orchestrated nightmare should have heads on pitchforks and still no one cares. I've thought many times people would be pissed off enough to hit the streets but that won't come until breakfast, lunch and dinner isn't on the table anymore.
HI, thanks for the video, SGS!!
ReplyDeleteI have metals, but feel I need more. My guy at CMI is urging me to bag another gold buy, the action is moving to silver. I'm just shy of 20% metals, slightly more silver than gold in terms of the money spent. Started stacking in March 09. Am attempting to trade mining stocks, but have kept core in my lower buys.
We pulled my mother's big CD out of BOA and the VP there looked sick....that was right around the crash and her retirement was looking iffy and probably still is.
We only have checking at Wells Fargo since my mother's automatic deposit of SS goes in there.
Most of the cash is in 2 credit unions and a very strong local bank.
We yanked her annuity out of the Hartford and have in a credit union annuity now.
This spring we invested in a solar system which should pay off in 8 years, at over 11% return on investment. We have a 12 year contract with El Paso Electric...they buy what I produce. It's a 72% system, with a bit of extra juice to power a future electric car, just in case. If I'm still alive in 12 years, at least my bill will be reduced by about 70%.
Have food stored...but no guns. Not there yet!
I'm nervous as hell.
ive only got 100 oz silver. am i screwed?
ReplyDelete@ TZM
ReplyDeleteWe The People are all screwed,but you are less screwed then 99.9% of US.
http://news.goldseek.com/GoldSeek/1314280523.php
ReplyDelete@TZM: relax. You're better off than so many more people. Just buy an oz. a month if that is all you can afford. BUT, I recommend you get long storing food first & alot of bottled water. Food prices are only going to go up. I use www.efoodsdirect.com. Their food is very, very good tasting & their prices are reasonable.
ReplyDeleteIB margins for gold this morning up to 9450/7000 from 8613/6380. Silver now 28,775/17,760 from 27,216/16,800. Probably only a matter of weeks before they look the same.
ReplyDeleteI could be wrong, but past market experience gives me the impression that the market has been setting the bears up for pain for several months now. There is an obvious head & shoulders top on the S&P 500 that has played out very nicely and for the past three weeks has been consolidating in what appears to be a bear flag. Me thinks this is all too obvious and da bears have been lulled into a sense of overconfidence that this market is coming down.
ReplyDeleteI predict that the Bernank says something, totally expected by those in the know, that will rally the markets and send us at least back to 1250 - 1300 and possibly on to a continuation in this totally fabricated bull market. I also think that there is going to be more work done to scare and shake ma & pa out of their gold/silver holdings, which will likely be successful unfortunately, but will also allow folks like those here another beautiful buying op for some really cheap phyz.
Keep your eyez on the prize folks. The picture is most clear and steady when you look far off toward the horizon where you can take in the full view. Don't get distracted by all the near-term minutia that will be thrown at you. The world economy is a shambles and our equity markets are the largest MLM Ponzi scheme going.
If I turn out to be correct, and I certainly don't know that I will, I think we should expect to be shocked at how low the fucktards are going to suppress paper gold, as they did with silver. I don't think it's outside the realm of possibility that we see anywhere from low $1600's to even as low as $1100 - $1200 gold again. I actually hope we do because I'll be investing very large if we do.
Thanks as always to SGS for staying real.
Rich
Btw... In case I am wrong...
ReplyDeleteKey resistance points to watch for gold, imo, are at 1795, 1812, 1830-1837 and the 1849 "angel" per JS. Finally, if gold gets back to 1873 then we're likely to re-visit the highs and continue upward.
highrise408
ReplyDeleteMetal value
On June 13, 2008, the value of the metal in a United States nickel coin reached $0.06013, a 20.3% premium over its face value.[10] This was due to the rising price of copper and nickel and the decline in value of the United States dollar.[11] In an attempt to avoid losing large quantities of circulating nickels to melting, the United States Mint had earlier introduced new interim rules on December 14, 2006 criminalizing the melting and export of cents and nickels. Violators of these rules can be punished with a fine of up to $10,000, five years imprisonment, or both.[12] See Title 31, United States Code Section 5111(d).[13] The rules were finalized on April 17, 2007.[14]
As of 14 March 2011, the value of the metal in a nickel is $0.0665396, 33.07% more than its face value.[15]
As of 10 April 2011, the value of metal in a nickel is approximately 7.1 cents at current spot prices for constituent metals, a 40%+ premium over face value.
Costs of producing and shipping 5-cent (nickel) coins during fiscal year 2007 was $0.0953 per U.S. nickel. Canada, which produced a "nickel" of nearly pure (99.9%) nickel starting in 1922 (except during the war years of 1942-45 and 1951-54), switched to cupro-nickel in 1982. Since late in 2000, this denomination is usually produced in plated steel. The metal value of some of these older coins is greater than their face value. In a similar move, on February 8, 2008, a bill was introduced in the U.S. House of Representatives that would allow for changing the metal components in U.S. coins due to the rising cost of commodities and the declining U.S. Dollar.[16] No such bill has yet been signed into law.
The silver content of nickels minted during World War II from 1942 to 1945 is 1.75 g (0.062 oz), and is valued at about $2.86 based on the closing price of silver on April 22, 2011.
http://en.wikipedia.org/wiki/Nickel_%28United_States_coin%29#Metal_value
Coin metal value %age of face value
ReplyDelete1909-1982 Cent (95% copper) $0.0269168 269.16%
1946-2011 Nickel $0.0600640 120.12%
1982-2011 Cent (97.5% zinc) $0.0059018 59.01%
1965-2011 Dime $0.0226802 22.68%
1965-2011 Quarter $0.0567026 22.68%
From http://www.coinflation.com/ where one can also find out that a nickel is 75% copper and 25% nickel.
Wynter Benton is back ladies and gentlemen! SGS I know she's not your favorite but she was a crucial ally in the spring against the Morgue and introduced me to your site.
ReplyDeletehttp://messages.finance.yahoo.com/Business_%26_Finance/Investments/Stocks_%28A_to_Z%29/Stocks_J/threadview?bn=10073&tid=402940&mid=402940
NO QE3 for today.
ReplyDeleteThe Bernank speaks and everything drops. Quite a guy! LOL
ReplyDeleteHere's what you do people, listen carefully. I haven't moved more than 5% of my stack in a single options bet since March when I loaded up on SIL calls 25, 27, and 30 (most of them paid off nicely). Shalom will announce his usual bullshit, but NO QE3 (for now). We'll see how far silver slides, but like SGS, I will be nearly all in at that point. not just all in phyzz, but options as well. that is how confident I am we'll see at least $45 by September.
ReplyDeleteSorry, off topic. Remember I mentioned FIS (uranium) the other day @ $0.50.
ReplyDeleteDoes anyone know what happened to FIS? Why it went up?
Shalom = LOOK UP BELOW.....SLPAT! TOLD YOU TO LOOK UP!!!
ReplyDelete"Bear with me folks I came unprepared today and we'll book an extra day in Sept and we'll do a couple rounds of golf, shooters & jalapeno poppers.
@ledbedder - re gaps and fills. There was a gap in FIS on TSX this morning of about 25% (sheesh!)
ReplyDelete... still don't know if I am understanding this ...
In your opinion would this gap need to get filled?