...can prevent market melt ups based on rumors.
Creditcane™: You can't escape me. Have a nice weekend. Boo!
SPXBullish short day. Midpoint below EMA(10). Tested and failed SMA(21) & SMA(55). Failing the 38.2% retrace (1241.13). No daily 3LB changes (reversal is 1258.47). QE2infinity. Still above weekly 3LB mid but below the monthly 3LB mid.
DXYSpinning top day. Midpoint above EMA(10). Holding above the 100.0% retrace (79.60). Holding above all SMA's. No daily 3LB changes (reversal is 79.14). Confirming the monthly 3LB reversal up.
VIXDoji day. Midpoint below EMA(10). Failing all SMA's. Failing its 61.8% retrace (26.16). New low on daily 3LB (reversal is 48.00). The grip of the "fear" zone has been eliminated (for now).
GOLDBullish long day (completed morning star). Midpoint below EMA(10). Tested and held its 61.8% retrace (1592.30). Tested and held SMA(233). No daily 3LB changes (reversal is 1802.90). Must have the precious.
EURUSDSpinning top day. Midpoint below EMA(10). Still failing all SMA's. Tested and held its 0.0% retrace (1.3022). No daily 3LB changes (reversal is 1.3252).
JNKBullish short day. Midpoint above EMA(10). Holding above SMA(89). Failing its 50.0% retrace (38.24). No daily 3LB changes (reversal is 38.30).
10YR YIELDBearish long day. Failing all SMA's. Midpoint below EMA(10). Tested and failed its 0.0% retrace (18.96). New low on daily 3LB (reversal is 21.17).
WTISpinning top day. Tested and held SMA(55). Midpoint below EMA(10). Tested and held its 38.2% retrace (93.09). No dally 3LB changes (reversal is 98.54). Not confirming the monthly 3LB reversal down.
SILVERBullish short day. Failing all SMA's. Midpoint below EMA(10). Tested and failed its 61.8% minor retrace (29.76). No daily 3LB changes (reversal is 30.17).
BKXBullish short day. Midpoint below EMA(10). Tested and held SMA(21). Tested and held its 50.0% minor retrace (37.51). No daily 3LB changes (reversal is 40.05).
HYG/LQDSpinning top day. Tested and held SMA(21). Midpoint below EMA(10). Failing its 38.2% retrace (0.7808). No daily 3LB changes (reversal is 0.7693).
USDJPYBearish short day. Midpoint below EMA(10). Failing SMA(144). Tested and failed its 50.0% minor retrace (77.740). No daily 3LB changes (reversal is 75.52).
TLTBullish short day. Midpoint above EMA(10). Holding above all SMA's. Holding above its 38.2% minor retrace (118.79). Daily 3LB reversal up (reversal is 116.71).
IT HAS BEGUN. YOU HAVE BEEN WARNED.
61 comments:
@AAIP
This is purely for you... (& I encourage any collateral eyes reading this to disassociate themselves from this comment - I'm speaking SOLELY to someone, who, I think 'gets it' in this moment)...
Anyway... Mark... TRUE STORY... I swear I don't make this stuff up...
I have an elderly friend (a man)... 85 years old... Who is a long time friend of my late father... Who has done many interesting things in his life... I talk with him all the time (& in some ways, CONSULT WITH HIM, [if, believe it or not, anyone on this blog actually believes that any LUNATIC on the planet earth would ever take to heart any of the ideas I give out])...
Anyway... miracle has it that I've got this gentlemen into COIN COLLECTING over the past few years... I've especially sold him on the idea of NICKLES...
I've graced (somewhat 'ungracefully', over the past time, some of my own personal NICKLE procuring escapades)... But this guy has literally put me to shame... SERIOUSLY...
NOT ON MY SPECIFIC advice, but little did I know that recently he showed me what he'd accumulated...
I mean... this guy was going to the bank and getting $50 at a time... I laughed when I heard that because I knew for a fact that when I went to the bank to ask for an exchange, I'd always get these EXTREMELY quizzical looks (for 1/5th of the volumes he was talking about)...
I could only chalk it up to the idea that he's 85 years old and gives off the 'personality' impression as a likeable old geezer that might have an eccentric bend...
Ostensibly... ALSO... (& this is important)... His MAIN goal in exchanging for nickles DID NOT have to do anything with Kyle Bass, or CV, or anyone else... It was strictly 'coin collecting'... An old geezer, passing his time away exchanging his social security & pension checks, for coinage in the hopes of fulfilling some nuismatic mining hobby...
Anyway... It got to the point that his harvest has supremely outdone even my own trips to the bank, or, requests for $2 rolls (in change), from supermarkets, & otherwise PAID IN CASH change transactions...
So what's my point?
Well... Today... I saw him again & he handed me something...
I said "WTF is this?"... Without the F...
Turns out that it was a piece of plastic... EXACTLY the circumference of a nickle (& side standing height)... It was EXACTLY 'in look' like a Lincoln penny... I mean - If ANYONE don't believe the story I'm telling you right now, just ask me & I'll mail the MF to you...
Piece of plastic... AN EXACT FORGERY OF A LINCOLN PENNY, only dimensioned into nickle size...
I'm out of ideas... So I invite all of the experts on this blog to explain that occurrence to me...
Respectfully,
cv
@AAIP
BTW
That 'discovery' occurred TODAY, while he was sifting thru the nickle rolls that he'd exchanged for TODAY...
... it was stuffed into the nickle roll, one of the 25 he'd exchanged for, (along with 39 'real' nickles) for those of you so engrossed in charts at the moment, or otherwise occupied with data mining who might accidentally 'miss' the INCOHERENT nature of my stories)...
I only included THAT PARTICULAR ONE because it had to do with a plastic President Lincoln (not a pantyless 'Madonna')...
That was so as to be sure my ego was rightfully checked at ther door...
cv--
that's interesting, have tried to 'check into it' "online"?
I wouldn't be, too, surprised if it came from the PROC..
(the plastic, Nickel-sized, 'Penny')
something tells me that they've been--speaking of mining--'high-grading' our circulating Coinage..
~*probably left the plastic 'Penny' as a calling-card..
AAIP
@AAIP
I dunno... But it's an entirely true story... & happened just today (in my world)...
I've never seen anything anything like it before... & the little 'knock-off' is uncanny... It wouldn't do me any good to even photograph it because the likeness is very good (the only thing missing is a YEAR DATE stamp on it)...
I had to fondle it a little in my fingers to believe it was true... Frankly, I can't say if it is even PLASTIC (but that's what it feels like to me - it feels like I could snap it in half if I were to try and bend it with pliers)...
Mind you... THIS DID NOT POP UP in some pennies that came back from some change at Wal Mart...
This came from a $2 nickle roll FROM THE BANK...
That's my story... NOW... proceed (Traders Anonymous) to tell cv how crazy he is whilst taking time to pro-offer your logical explanations...
---
PS... AAIP...
On the Broncos-Pats (earlier thread)...
I'm torn...
I gotta say that I'm "hooked" on Tebow... CV <3's the guy... You wouldn't believer, last week, in my household, how we were rooting for the guy... I can't see how ANYBODY could be a 'hater' of the guy...
This week?... I dunno...
I said a few weeks ago that Denver, I thought, was capable of winning these games against the likes of the Jets (or even Bears, sans Cutler & Forte)... I made the point that Tebow might meet his 'Waterloo' vs. a team like Green Bay or the Patriots that could 'light it up'... I guess we'll see this weekend how that plays out...
Personally... I'm skeptical (notwithstanding my genuine admiration of Tebow)... The main thing I have going (in Tebow's favor), was that last year he put up 30 points (& over 300 yards) vs. a shoddy Houston Texans defense... New England's D fits that bill here... So maybe it'll be a trackmeet?...
But Denver (which has been playing good D) lost Brian Dawkins last week & Von Miller is still banged up... BRADY has a HORRIBLE record covering spreads in the Mile High City (1-6 in his last 7 visits)... Is this the week he gets revenge? or not?
When in doubt... CV (as with LONGSTANDING predictions like nickles, fish, water, tools, & irrigation) tends to go home with the the girl that I brought to the dance...
At the beginning of THIS DANCE (NFL 2011)... I took the Ravens, Patriots, Saints, & Packers...
After suffering innumerable finger pointing antics about how great the:
- Dream team EAGLES
- Bills
- Lions
- Bengals
- Texans
- 49ers
- Cowboys
etc.
were...
I stuck to my original thesis... So basically, I can't abamdon the PATS here... (Not that I don't want Tebow to win - as stated above)...
Hell, if anything, I hope the Pats win & the RAIDERS take down the Lions (as I'd expressed in the last thread)... Toss ben22 a bone...
So... Fuck ME... 6 points is a lot to lay on the road (AGAINST GOD - where you're already 1-6)... But I'll take the PATS...
NOW all of you can REALLY start calling CV a douche... I'm prepared for it though... On ANOTHER blog (believe it or not - homies - I actually DO flame other blogs, not FARMING ones you buttholes - but football ones)... Anyway - if anyone here wants the link, last week, where I made this BIG TO DO about how the ARIZONA CARDINALS would 'upset' the 49ERS, I'll be happy to supply it...
Those f-ers think I'm an even BIGGER douche than you people think I am... :-)
cv--
I like the 'Home' -dog side of things..
and, really, surprised that the Line opened so low (7, from what I've seen)
Pats are good team (esp. Offense), but, now, with 'the Whole World watching', I wouldn't be surprised if the Bronco receivers, actually, drop fewer Passes, and Tebow goes for 330+ & 3+ TDs..
anyway, I'm taking the Pins..~
AAIP
@AAIP
back to the plastic penny (for a moment)... Again, I was astounded to see it... As I've never seen anything like it in my life... What's more is that it was in a roll of nickles FROM THE BANK... It's not like it showed up from a carnival barker or something...
Actually... To be honest (& this is just going BY EYE), it was definitely bigger (in circumference) than a penny but probably not that of a nickle... Though it had a thicker SIDE to it (which more resembles a nickle than a penny)...
You said PROC... I can't say, but that's as good a guess that I could possibly muster...
Interestingly... I'm not sure a lot of people on this blog even know this...
Coins from the US Mint... Though they have DOLLAR denominations, are not in the category of FRN's... 20 nickles aren't the same as a $1 FRN...
That fact may not seem like much, but consider this... In a system of FRACTIONAL RESERVE BANKING, where, ostensibly, a $1 deposit (in a bank in the Federal Reserve system) can be leveraged 10-1, then rehypothecated, the done (god knows what to) via the repeal of Glass-Steagal...
Well... I've already spent the day APOLOGIZING to everyone for my 'politically incorrect' subservience to important taxable trading transactions, but that's just another little tidbit that I though might be interesting to ADD (which, I'm sure is a redundant one, as CV is surely the least qualified in the group to talk about such things)...
So basically... Every dollar held on deposit, in 401k's, on a car loan, or any other debt money that anyone has allowed to be PUT INTO THE SYSTEM & LEVERAGED, is contributing the the debt problem that we all whine about every single day...
Which means NOTHING (of course)... In the end... Except as an excuse to tell cv what an asshat he is for mentioning it...
@AAIP
I wouldn't be surprised if the Bronco receivers, actually, drop fewer Passes, and Tebow goes for 330+ & 3+ TDs..
anyway, I'm taking the Pins..~
---
GUN TO MY HEAD??? I'd side with your logic on that bet...
I'm not going to risk any capital on it though...
JOHNNY GUT FEEL talking here :-)
@AAIP
I don't know if you caught my comments (last nights thread - very late), on the 'mettalurgy' [sp] of modern day drill bits...
check it out if you missed it...
@AAIP
Wanna know my 'more shocking' PICKS for this weekend?
Look closer to home...
The EAGLES are GIVING 3 points to the Jets (& are thus, getting SHUNNED by the public)...
Look at it this way...
- Dallas plays Sat Night (vs. Tampa)
- Giants play 1:00 PM (vs. Redskins)
If EITHER win, then the Eagles are mathematically eliminated (in the 4PM time slot)...
IT'S VERY DANGEROUS (in cv's experience), to face 'pissed off' NFL athletes who have just found out that their season is over & all the pressure is off...
The Eagles 'pinned their ears back' last week and got 9 sacks off a Miami squad that was ON A ROLL...
Just saying...
Wow...
I just thought of something...
I 'ought' to be making friends here (because SERIOUSLY, I'm taking)...
BEARS (minus the points) - which might make Amen Ra happy, tho I'm not sure... Unfortunately it'll piss off MANGY MUTT...
RAIDERS - makes ben happy
RAVENS - makes cv happy, but it might piss off karen, SD, (but she thinks football is a waste of time anyway)...
EAGLES - which has some local implications
I'll go as far as to say...
TEXANS - though I think Andy T is more of a SAINTS fan...
but there's where I draw the line...
I like the SAINTS for the win this week, but I'm dubious that they cover the spread...
cv--
I wouldn't be surprised if the Cowboys & the Giants, both, Lose..
w/an Eagle win, just, 'to tighten things up a bit'..
I, still, think, it's too early to cut Philly loose(from the Playoff picture)--this area is huge NFL territory..
and, esp., now, post-Fuld, and potential 'fallout'...I'm sure the NFL wants to keep as many 'Noses'"going to the Wire", as poss. ...
ibid.
Cvienne - The other day (About a month ago) I took my son to Dairy Queen....You the place where they blow bubbles with kittens in them.
We made our order (Sans the kittens) and the cashier asked if we wanted to see something weird, I thought WOW is she going to show us a bubble with a squirrel inside?
Well she pulls a plastic penny from the till, she let me hold it and play with it, but would not let me have it.
And there are no two ways about it, it looked exactly like a normal penny, same size, markings and width as a real penny, except it was plastic.
Not sure what to make of a nickle sized plastic penny though, maybe it was worth more because it was larger :)
Mangy Mutt
@AAIP
I think you might be right about both the Giants & the Cowboys (possibly losing)... Cowboys play tonight & I'd tend to want to take the points with the Bucs there... Don't ask me why... Josh Freeman is having a sub-par year, & I'd say Rashiem Morris might get the axe at the end of the season... Not really sure what they're playing for down there & they're still the youngest team in the NFL... But the Cowboys??? I can't trust them either... Jason Garrett singlehandedly turned his own kicker into Mike Vanderjact by icing him the other week in Arizona (which reminds me, I have to "cut" him on my FF team this afternoon)...
If you're curtious... I'm not really into BOWL games that much (wish there were a playoff system)... But, since it starts today... My picks are:
OVER (in the Temple game)
UNDER (in the Utah State game)
UNDER (in the SDSU game)
@Mutt
I have no clue...
When you're CV (who wears a tin foil hat), & you walk into a room of adults, people try their hardest to look the other way...
So I doubt anyone here is interested in hearing any of my thoughts (though I've put together a few)...
In any case... I reported the incident (by telling the story)... at minimum, it now appears to be confirmed 3,000 miles away (by yourself) that I'm not making this stuff up...
But the safe thing to do is just assume it means absolutely nothing and ignore it completely... That way you don't run the risk of pissing anybody off...
cv--
w/ your 10:39..
what is the point that you're trying to communicate?
from what I've seen, over the last few days..."peep" don't much mind that you come with some ~'alternative Takes'...but, "they" are taking issue with the 'delivery'/ "addition of 'bile'"..
and, really, what Is 'under your Saddle-Blanket'?
AAIP
"Well... I've already spent the day APOLOGIZING to everyone for my 'politically incorrect' subservience to important taxable trading transactions, but that's just another little tidbit that I though might be interesting to ADD (which, I'm sure is a redundant one, as CV is surely the least qualified in the group to talk about such things)"
wow, you really are a child a lot of the time, and quite clearly never intended to give any sort of sincere apology to anyone as evidenced with the statement above. Instead it would appear in your mind you think this is all of us viewing you as politically incorrect, or put another way, you didn't really do anything wrong, it's everyone else and their perceptions. So you're "sorry" that we are all too stupid to get you....lol
.....sure, that must be it, I also greatly enjoy this new kick you've been on which is that our profits are taxed.
As for the plastic penny, I've come across these stories before, anyone interested in "money" has, after digging through all the information about the band plastic penny you can find stories on the web of the same thing from people all over the place and there's any number of ways it could happen:
http://realcent.forumco.com/topic.asp?TOPIC_ID=8737&whichpage=3
http://www.mylot.com/w/discussions/1620130.aspx
read comment one:
http://www.yelp.com/biz/united-bank-arlington-7
as mentioned above the chinese have been doing all kinds of counterfeit:
http://coins.about.com/od/worldcoins/l/bl_chinese_fakes_bought_by_pcgs.htm
thats to say nothing of all the fake RMB, which I realize is paper, but it doesn't really matter, if you read about it you'll find thousands of accounts of people getting counterfeit RMB directly out of Chinese bank ATM's, the banks are very likely in on the counterfeiting is the current claim
then of course, for a long time now there's been a larger push for "paper" money to be turned into plastic:
http://www.theglobeandmail.com/news/politics/canadas-new-plastic-banknotes-will-be-nearly-impossible-to-fake/article2068559/
http://en.wikipedia.org/wiki/Polymer_banknote
http://www.youtube.com/watch?v=YTggA4jVPj0
what does all of this "prove"?
not a damn thing
cv--
this, from the 'Comments' (linked below), should sound familiar..
"The consumer system is what is being protected -- not people. People are protected only so much that they serve the consumer purpose. The system will not "fall apart" since consumerism is too useful, too profitable.
Keeping fear alive and well is also useful for keeping the masses from making changes. Tell them repeatedly that they live in a high tech surveillance society and they have no rights, and they will likely stay home and watch TV instead of trying to make any changes to the central banker stranglehold.
Endless central banker fiat money out of thin air buys the best human behavior experts in the world. They know exactly what needs to be said, and for how long, to keep consumerism in place and protected at all costs.
The transfer of consumerism over to lesser developed countries is what is happening right now. Consumerism will still remain alive and well n the US, although it will take on a more militarized bent and be focused on protected the environment, despite that the environment is just fine."
http://www.dollarvigilante.com/blog/2011/12/12/its-all-over-but-the-rounding-up.html
I'll note that the Individual isn't expressing the "Katie y Brian"-approved POV, though, he isn't, necessarily, haranguing "others", either..
http://www.thefreedictionary.com/harangue
AAIP
@AAIP (10:59)
The best way for me to explain it is as follows... (probably a couple of parts to this)
OK... I'll cede you (& probably every one else) the point about the "delivery")...
I'd say it comes from two things (one more "surface", the other "deeper")...
The surface part is pretty simple... Lately, I've been hanging around Zero Hedge a lot more than I have been around here... I'm not trying to compare the two blogs so much with regards to CONTENT, but more with regards to what the decorum is in the comment section... It's a mosh pit over there & you have to be pretty clever to be a full blown participant... Here it's like "Church Lady" from Saturday Night Live... I feel like I'm in the movie "Footloose" & everybody is John Lithgow... That's not meant to be a criticism (per se), but I'm just referring to the dynamic (since you asked)... It's like walking out of a Wild West saloon and into a Hampton's tea party... Sometimes you forget to check your rifle & spurs at the door if you know
what I'm saying... Bull in a china shop syndrome if you know what I mean...
I know it's not my place to tell people they need to 'liven up' a bit, but let me tell you it feels like somewhere between a morgue & a library a lot of times here... Maybe that's by design... Maybe this blog has become a place for quiet contemplation, but that's sure not how I remember it...
So frankly... Maybe this isn't the place for me anymore... I used to get laughs all the time by yakking it up on this blog... I read the articles and comments at Zero Hedge (and participate) as much as I can & get a laugh a minute...
---
And so now the DEEPER more compelling aspect of my "change" has to do with WHY (the transformation)... At Zero Hedge, just about everything is FARCICAL (and it's written about and talked about in those tones because THATS WHAT IT ACTUALLY IS)...
Unless I'm the only lunatic in the world, the entire world, right now, is intertwined with unsustainable economic LUNACY... How can I make that any clearer? Here... I'll describe the 'steps' (one could easily make a math equation out of this)...
- For 'society' to exist you need a sound money system
- The world money system is broken
- As is, it's "unfixable" (& needs to be completely overhauled)
- So... as I see it... It's ALL BROKEN
What's worse is that everybody knows it yet is running around pretending to have fixes so they can play the FORMER game a little longer...
I'd say, all of the ZH staff writers (Tylers) know that (& most of the commenters)... That's why its all a big FARCE... Hell - if you have the option of crying or laughing, you might as well get a good laugh, right?
I don't want to hear any arguments about the 'sensationalistic' approach that the (Tyler's) may use in presenting material... Frankly, I think there's BENEFIT to it... Why? Well, a good general needs to keep the troops entertained... The worst thing that could happen would be for everyone to get fat & lazy...
- part 2 -
Look - I know there are reasons and justifications for doing it... Ben, for example, has a fiduciary responsibility for his clients... He has to do what he does, or his other choice is to quit his job and learn how to fish or something... I'm sure there are some personal preparations he makes towards those ends that are not unlike Kyle Bass himself...
Anyway... thats the underlying theme... For the most part, I can keep my emotions under wraps... It's not like I walk around in a straight jacket
banging my head against the wall...
But weeks like this one dangle me over the edge sometimes...
The 'camel straw' occurred when I heard QQQQ talk about his gold bar trade earlier... Yeah - I guess a trade is a trade (and he obviously made a good one IF.... IF.... IF... one measures the value of every trade they ever make in fiat dollars... (that's my Waterloo every time I make a comment on this blog because all of you people seem to believe so strongly that the system won't collapse on your watch)... There's no way to reconcile the viewpoints... It'll happpen or it won't...
Neither I, nor anyone else knows how long the current FIAT system will last... It's even harder to predict what will come AFTER... I can only say the following:
- The present FIAT system is not backed by anything but faith
- There has never been a FIAT system that survived in any great civilization
- The civilizations themselves never survived in tact, they eventually were broken up & the people dispersed
- One can imagine why... The popular belief is that that they were defeated militarily, instead, they were broken apart when & as their money system collapsed
- The current system is based on fractional reserve banking
- Inherently, fractional reserve banking requires a sustained & eventual exponential growth pattern to exist or it will implode in on itself
- Growth patterns require capital, resource, labor, & productivity
- We're probably stretched to the limit in terms of all four of the above mentioned (ie, there's no capital> there is no way to service the debt
to borrow capital > the cheap oil has been been expended & is more expensive to obtain
- It doesn't mean the world is going to end, but it means the whole system must start anew
- When the system 'starts anew' ANY & ALL savings in unredeemable FIAT PAPER will vanish
- It's only a matter of time
So... KNOWING all of that (Or, maybe I don't know anything, maybe this time it'll all be different and the problem will fix itself as soon as everybody realizes that as soon as we all get jobs as soldiers, police, fireman, teachers, sanitation workers, and the rest of us go into the banking industry to pump out loans to pay all those salaries, and the rest of us all make fortunes by bidding NFLX up to a brazillion and back down to zero again, it'll all work out)...
Color me a skeptic...
- last part -
Anyway, I'm happy for anyone here that gets to enjoy profits (for however long they last), on a good trade... Frankly, I have no idea in hell
whether or not gold or silver will be a good thing to own if (when) the fiat system ever comes crashing down... All I can say is that it seems to have retained its quality as a value 'store' over the past 5,000 years...
That's my calm delivery...
My feathers get ruffled AFTERWARDS... It occurs when the "deck chair shufflers on the Titanic" (starting with flaming ANONS) start name calling
because they don't like the idea that I've told everyone that re-organizing deck chairs on the Titanic, to some, could be considered a frivolous use of time...
Of course that doesn't stop the rising chorus of others, sensing a mob, they get the courage to go in there and take offer their own kick in
the nuts...
At the crescendo of it all is listening to somebody tell me that gold has been a terrible investment (since 1980) because it's only up 100%...
Um yeah... right... May I re-frame that?...
Let's say an ounce of gold, valued in any fiat paper currency that ever existed, bought you a nice suit... (I'll let you go ahead and name the
fiat currency of your choice before dollars)...
Now go ahead in today to a suit shop and try to buy a suit with that same, now extinct currency... It's a piece of paper, it's worth nothing...
Now, the tailor may not accept your gold either, but you can go exchange the gold anywhere for its value (because it has always had value), to the new currency & then buy the suit...
- Paper, over time is worthless
- Gold, over time still buys you means to exchange
What's even worse is to have to listen to that comment (about 1980 gold and 2011 gold) in the context of the discussion...
- The discussion WAS NOT about what was the best "investment" over the past 30 years...
- The discussion WAS NOT whether gold has peaked or not on the charts (which are determined by leveraged paper transactions), and all sorts of
disgusting machinations...
Hell... I didn't even know any of you in 1980 so what use is it to apply any of my thoughts on gold to the 1980 price?... On the contrary, when I started this blog in the company of all of you, I was still a believer in the fiat game... That all ended for me at Jackson Hole 2010...
So anyway... Withing 3 days time... I go from making a straightforward comment about the ramifications of letting your gold bars (in this moment) fly out of your hands... I explained that in the context of having visited 3 coin shops on that same day and failing to find one dealer who was willing to part with their inventory on what looked like a price correction...
Anybody else have any knowledge to add to the conversation?... Apparently not... "The Drama Queen is back" defense was used instead...
Mark... Please tell me how to act when someone responds to my suggestion that, given the economic climate, holding a little physical gold (at any price) might be a good idea... With... a tale about the paper price of gold has only doubled since 1980, making it a poor investment choice...
Then tells me...
What part of You Are a Manic-Depressive Nutcase don't you understand?
...and apparently are a narcissistic idiot..
Now I see ben calling me a "child" above, so I'd better cut it off here...
These are my best attempts at a more muted "delivery"... The best I can muster at the moment...
@AAIP
"The consumer system is what is being protected -- not people
That exactly sums it up... And why?
Debt slaves... A fractional reserve banking system needs growth & debt slaves...
We're all a part of it... These days I try to avoid it in every way I possibly can, but it's still impossible to avoid it completely...
That's why I butt heads with just about everyone on this blog right now because if there were a mass movement towards MY lifestyle vs. towards most of yours, you'd probably see your QUALITY of LIFE take a hit...
Ironically... Each & every one of you would adapt & probably find out that it's not as bad as you feared it to be...
But then there's that word again... FEAR
The FEAR is 10x worse than the reality...
I'll get accused of being 'arrogant' by saying that (I can feel it coming)... But what can I say? I have truly transformed within the time that I've known all of you on this blog from the "trader", to somewhat of a monetary ANN ARK KIST (but really only a run of the mill "survivor capitalist" in practice)...
cv--
at the EOD: "to each, his own.."
and, really, whether it's from "Anon.", or BinT, or, really, anybody else, it's 'on them'..
personally, if you think it ~worth the hassle, if someone comes with something that you find disagreeable--let him know..or, not..
it's one of the, Real, limits of the i-net--people cock-off about all kinds of things..
speaking of which, re: Zero Hedge, to me, there's no doubt that they cover a lot of useful info--the vast majority of which would never pass "Katie y Brian"'s lips (on-air)--but, again, to me, the 'Comments'-section, often, reminds me of the phrase: 'Keyboard Cowboys' ..
but, more importantly, with this: "...There's no way to reconcile the viewpoints... It'll happpen or it won't...
Neither I, nor anyone else knows how long the current FIAT system will last... It's even harder to predict what will come AFTER..."
I think that most, here, understand that "We live in Interesting Times"
though, peep, as per, always have to make decisions for themselves..
some want to ~believe that 'Voting for the 'Right One'' will ~straighten things out ... others think it's Time to stop Drinking Cocktails, and start Throwing them ... still, others, are found all along the spectrum, between, and beyond, those points..
"What are you going to do?" We may do well to remember ~"It's hard, enough, to Walk in your own Moccasins, let alone someone else's.."
to me, any sane individual should understand that the current Regime is replete with Fraud, but should not Wish for the "Trust", that supports it, to unravel--surely, it'd create a 'Ball of Yarn' that feels, much, more like a Mace.
AAIP
cv--
"...We're all a part of it... These days I try to avoid it in every way I possibly can, but it's still impossible to avoid it completely..."
def.
ibid.
@AAIP
What's poignant about this part... (from the above comment)...
That's why I butt heads with just about everyone on this blog right now because if there were a mass movement towards MY lifestyle vs. towards most of yours, you'd probably see your QUALITY of LIFE take a hit...
Is that I can literally calculate and quantify the 'lessening' of my economic FOOTPRINT over this time...
Not just on the surface, but below the surface...
Self sustaining behavior accomplishes a lot of things...
- It's not just the gasoline you save
- or the less wasteful use of energy
- or the net gain from recycled energy
- or the eradication of the need for the world to manufacture MORE MORE MORE to sustain individuals, because you learen how to repair things that haven't truly passed their lifespan
BELOW THE SURFACE are the ways in which people's money habits add to the ***tpile that the world has become...
- The dollars you hold in your IRA's, & 401ks, etc. are the very WMD's that a post Glass-Steagal banking system uses, rehypothecates, mis-allocates, and otherwise destroys.
- It keeps the gears lubed, but only for so long... For as the friction of fraud & mis-allocation occurs, exponentially larger amounts of "fixes" have to be pumped into the system (which, of course, increase the amount of friction in the system because of the nature of their introduction)
Most people are blissfully unaware of the destructive power of the above... Bankers are not... That's their whole game... But you can't really just blame the bankers, you have to blame the people who participate... The ones who take car loans, and swipe credit cards, and hold brokereage accounts... Even the paperboy who holds a $100 passbook saving account is a ciulprit in this system...
What's more... On this blog, that SYSTEM (as destructive as it is) is GLORIFIED on a blog like this... On ZH it's mostly REVILED...
I won't argue the "convenience" factor, or I'm not wishing we all moved back into caves...
The bottom line is... We have reached the point in the OLD GAME whereby we'd probably need a doubling of the world population (WITH tyhe added consumptive behavior patterns), to conveniently keep things humming along for all of us (based on my estimates of out age demographics) for our lifetimes... And even if we do so (because we're GREEDY), we'll exit the world having TOTALLY TRASHED THE JOINT...
Is that our legacy?
I can tell you something... I've found that I can't change THE SYSTEM... BUT I CAN CHANGE MYSELF (I've done that & I'm continuing to do it)... For more than a year now, I've been encouraging everyone else to do that along with doing the best I can to supply an architectural blueprints...
The response?
Crickets... (except for the times when I really just have to let off some steam)...
Jesus Christ himself only really lost it one time... & that was with the moneychangers (bankers)...
cv--
w/: "...But then there's that word again... FEAR..."
to me, I'm not, exactly, sure it is Fear, itself..
there are multiple facets, different for each, that allow/drive individuals into their ~decisions..
though, I think a huge one is that few can deal with the fact that they've spent the majority of their Lives being Lied to, and Believing those Lies..
as ex.
Have you ever tried to have a conversation, with a WW II 'Vet', about FDR--what did he do to provoke the Japanese/when did he know about their imminent attack??
peep, if nothing else, are "Prideful", and, few of us like to admit that We've been had..
ibid.
cv--
w/ this: "...BELOW THE SURFACE are the ways in which people's money habits add to the ***tpile that the world has become...
- The dollars you hold in your IRA's, & 401ks, etc. are the very WMD's that a post Glass-Steagal banking system uses, rehypothecates, mis-allocates, and otherwise destroys.
- It keeps the gears lubed, but only for so long... For as the friction of fraud & mis-allocation occurs, exponentially larger amounts of "fixes" have to be pumped into the system (which, of course, increase the amount of friction in the system because of the nature of their introduction)
Most people are blissfully unaware of the destructive power of the above... Bankers are not... That's their whole game... But you can't really just blame the bankers, you have to blame the people who participate..."
that's very astute.
esp. this: "...BELOW THE SURFACE are the ways in which people's money habits add to the ***tpile that the world has become..."
but, really, we've discussed this ~3 years ago, esp. @ TBP...
it is now, as it was then..a "Society" afflicted, a la the 'Stockholm Syndrome', with Love for their Captors...
~~~
It has taken a long time to reach this point 'in the Journey', now, "We" may do well to remember why Moses took ~40 years to 'complete the Exodus'..
ibid.
note:
I'm fixin' to Bail, for a few..~
AAIP
cv, in your case...maybe sometimes saying less is saying more... think about that for a day or so. I was going to let this pass but you seem to have the need to push stuff into the ground and not absorb what peeps are saying.
I really don't know why you smacked me with ANY comments when I posted that gold trade and really don't care. Nobody else said good trade - bad trade - STFU - or anything, only you did. I felt really good about it on that day. I saw gold went down about $100, which confirmed (to me) I sold at a good time (8/22/11). I'll buy some gold again, still have some, silver too. I have never been refused a PM trade. The two places I buy gold from, well, they have more than I could possibly buy... and one of them has free shipping if over $2K purchase.
Two reasons why I sold at that time. One was, I felt gold was topping, the other, which in my eyes was the most important to me. I needed $$$ to send to S. Korea so my stepson could get an operation. Problem solved, and really surprised me because in hindsight, shit usually doesn't work out this well. I talked to him a couple of days before I posted the receipt, he's doing good, not great but much, much better than a few months ago. So in my heart, and maybe I needed to boast a bit, I felt the urge to post. I asked you if you knew what I did with the proceeds. You didn't care at the time, but, now you know.
All of this has nothing to do with you. It has nothing to do with the end of the world is coming scenario. It has nothing to do with paper vs. metal. It was just a trade, either gold, stocks or pez dispensers, it really doesn't matter. It was something "I" did which didn't affect you in any way.
Just because someone doesn't have the same thoughts as you, or do their daily chores differently, or invest or live the way they see fit, doesn't mean they're wrong does it? So that's my story, how I feel, now tear me down because that's what you do. And!, when someone posts something, unless it says "@cv", it has to do with them, not you.
@AAIP
...assuming you've bailed.
Thanks for all the thoughts... On this...
Have you ever tried to have a conversation, with a WW II 'Vet', about FDR--what did he do to provoke the Japanese/when did he know about their imminent attack??
peep, if nothing else, are "Prideful", and, few of us like to admit that We've been had...
---
That's a perfect analogy... & it aptly describes why I prefer spending more of my time over at Zero Hedge these days to this blog...
I'll confide with you... I've learned a hell of a lot more by reading stories, comments, & links on ZH than I ever learned here (including the time when I was authoring this blog)...
While I was authoring here, I mostly just scratched the surface with ZH (because I enjoyed their sardonic delivery in condensing stories)...
But as I spent more time, I was able to wade through the clutter of witticisms, snide remarks, "bile", racism, anti-semitism and really get a picture of the whole thing (which you don't really understand until you fully immerse yourself in it)...
After time, you find that despite seeming like a brothel, it really is rather self policing... Oftemtimes, the "racists", or "anti-semites", over there have other brilliant thoughts intertwined in their comments... You sort of get to know who's who, and you learn that most have a fairly complete view on things...
Hell, maybe people around here do as well, but if so, why do you keep it bottled up?
You mentioned the 'Peral Harbor' thing... Hell, I don't know the TRUE story on anything, but I heard about that there...
- I used to believe that the 9/11 attacks were pulled off by a bunch of towel headed dudes with boxcutters, but now I'm skeptical
- I never believed Lee Harvey Oswald was a lone gunman, but it never occurred to me JFK's link to silver certificates until I started reading stories there... Certainly when one considers the assasination links to former US Presidents "the banker" argument becomes a compelling one...
- You look at geo-politics now (Arab Spring 2011, Iran now, etc.)... At ZH you get full blown discussions (sometimes for days) on the subject... Here, all you get are a bunch of people parroting what they said over there, and wondering IF, just IF, it might have had anything to do with the AH movements of the ES minis...
- Of course then you get someone who tells you that its silly to apply newsstories to S&P ticks because, in the end, the market is just forming its wavecounts & fibo extensions...
I shouldn't bitch about it... It's even worse at the Ritholtz blog... There, all you have is a "member of the club" pulling up a data point, or chart porn and editorializing it in a way to make himself look important & a bunch of card carrying sychophants on his bridal train...
That OTHER blog (which used to divide this one), are a bunch of Whoppi Goldbergs & BaBa Wawa's giving THE VIEW version of the Ritholtz blog (at least that's how it used to be - I haven't even been there in more than a year now)...
So whatever... Let's just say I have a big appetite for interesting journalism & editorial & find the present menu (apart from ZH) a little lite on calories...
Not that I won't keep looking for it...
"All of this has nothing to do with you. It has nothing to do with the end of the world is coming scenario. It has nothing to do with paper vs. metal. It was just a trade, either gold, stocks or pez dispensers, it really doesn't matter. It was something "I" did which didn't affect you in any way."
AMEN!
In between now and the end of the world we've all got our own lives to live.
cv--
w/: "...Certainly when one considers the assasination links to former US Presidents "the banker" argument becomes a compelling one..."
don't forget about James A. Garfield, or, really, even, RWR, ol' #40, shot, nearly killed, ~2 months after his was Inaugerated...and, subsequently, quite, changed, subsequently..
from ol' #20..
James A. Garfield quotes:
The chief duty of the National Government in connection with the currency of the country is to coin money and declare its value. Grave doubts have been entertained whether Congress is authorized by the Constitution to make any form of paper money legal tender. The present issue of United States notes has been sustained by the necessities of war; but such paper should depend for its value and currency upon its convenience in use and its prompt redemption in coin at the will of the holder, and not upon its compulsory circulation. These notes are not money, but promises to pay money. If the holders demand it, the promise should be kept.
James A. Garfield quotes:
Whoever controls the volume of money in any country is absolute master of all industry and commerce.
James A. Garfield quotes:
Liberty is no negation. It is a substantive, tangible reality.
James A. Garfield quotes:
Next in importance to freedom and justice is popular education, without which neither freedom nor justice can be permanently maintained.
James A. Garfield quotes:
By the experience of commercial nations in all ages it has been found that gold and silver afford the only safe foundation for a monetary system. Confusion has recently been created by variations in the relative value of the two metals, but I confidently believe that arrangements can be made between the leading commercial nations which will secure the general use of both metals. Congress should provide that the compulsory coinage of silver now required by law may not disturb our monetary system by driving either metal out of circulation. If possible, such an adjustment should be made that the purchasing power of every coined dollar will be exactly equal to its debt-paying power in all the markets of the world.
http://quotes.liberty-tree.ca/quotes_by/james+a.+garfield
AAIP
two-parter
The Earl of Caithness, quotes about Debt:
Our whole monetary system is dishonest, as it is debt-based... We did not vote for it. It grew upon us gradually but markedly since 1971 when the commodity-based system was abandoned.
Dr. Mary J. Ruwart, quotes about Debt:
In 1847, Marx and Engels proposed ten steps to convert the Western nations to Communist countries without firing a shot. Most of these ideas have been successfully implemented in our own country with little, if any, resistance! ... One of the ten steps called for "centralization of credit in the hands of the state, by means of a national bank with state capital and an exclusive monopoly" just like our own Federal Reserve! ... Another of the ten steps called for instituting "a heavy progressive or graduated income tax" just like our own federal income tax! ... Another step proposed by Marx and Engels was "abolition of all right of inheritance," which we come ever closer to as inheritance taxes increase. Taking wealth at gunpoint, if necessary that one person has created and given to another person is theft. Whether the wealth creator is alive or dead, the act and the impact are the same. Another step was "free education for all children in public schools." Although our country still has many private schools in addition to the public ones, the content of both is dictated by aggression-through-government, to teach aggression. Marx and Engels also recommended the "extension of factories and instruments of production owned by the state." In the past century, more and more services have become exclusive, subsidized government monopolies (e.g., garbage collection, water distribution, mass transit, etc.). As a result, we pay twice as much for lower quality service! Marx also called for the "centralization of the means of communications and transport in the hands of the state." Television and radio stations are licensed by the Federal Communications Commission. A station that does not pursue programming considered "in the public interest" is stopped at gunpoint, if necessary from further broadcast. ... Radio stations have an elite ownership as well. Those who benefit from aggression-through-government have little incentive to tell the public that licensing is a tool of the rich! ... Another of the ten steps calls for "confiscation of the property of all emigrants and rebels" ... [O]ur law enforcement agents can seize the wealth of anyone suspected of drug crimes without a trial! [T]he Internal Revenue Service (IRS) has also been seizing the assets of taxpayers without a trial if the IRS thinks they might have underpaid their taxes! The wealth we have created can be taken from us at gunpoint, if necessary without a formal accusation or a chance to defend ourselves! ... In addition, Marx and Engels called for "abolition of property in land and application of all rents of land to public purposes." In other words, land would not be privately owned. No homesteading would be permitted. Our federal and local governments have title to 42% of the land mass of the United States. Most of the remaining land is under government control as well. For example, today's homeowners can pay off their mortgages, but must still pay property taxes to the local government. If they stop payments, their property is taken from them. They are, in essence, renting their home from the local government.
Louis McFadden, quotes about Debt:
The Federal Reserve Bank of New York is eager to enter into close relationship with the Bank for International Settlements.... The conclusion is impossible to escape that the State and Treasury Departments are willing to pool the banking system of Europe and America, setting up a world financial power independent of and above the Government of the United States.... The United States under present conditions will be transformed from the most active of manufacturing nations into a consuming and importing nation with a balance of trade against it.
Carroll Quigley, quotes about Debt:
The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world.
Lysander Spooner, quotes about Debt:
And the men who loan money to governments, so called, for the purpose of enabling the latter to rob, enslave, and murder their people, are among the greatest villains that the world has ever seen. And they as much deserve to be hunted and killed (if they cannot otherwise be got rid of) as any slave traders, robbers, or pirates that ever lived.
http://quotes.liberty-tree.ca/quotes.nsf/quotes_about!ReadForm&Count=50&Start=51&RestrictToCategory=debt
AAIP
Weekly 3LB Update 12/16/11
GAZA, Dec. 15 (Xinhua) -- Gaza university student Mohamed Abu Suleiman had this week a tough argument over the change with a taxicab who took him from Tufah neighborhood in eastern Gaza city up to al-Azhar university in the west.
The driver insisted on giving Abu Suleiman a piece of biscuit instead of half an Israeli Shekel (about 0.13 U.S. dollars) because he did not have enough change, after the student paid him two Shekels (0.52 dollars).
"If I accepted the piece of biscuits instead of getting half Shekel, this means that a round-trip transportation would cost me four Shekels everyday instead of three Shekels," said Abu Suleiman, one of thousands of students in the Gaza Strip, who might suffer due to a severe lack of money change in the enclave.
Last week, the ministry of transportation of Islamic Hamas movement in the Gaza Strip decided to rise the transportation fee from one Shekel to 1.5 Shekels -- a set price for each passenger going from one neighborhood in Gaza city to another. However, amid a lack of money change, taxi drivers keep a box of biscuits and give a piece of it instead of the change.
Sources inside Hamas rule revealed that the government has studied a plan to resolve the crisis of change in the Gaza Strip by making new plastic coins to replace the small change. It will be the first time ever that such kind of local plastic money is issued instead of the Israeli currency...."
http://news.xinhuanet.com/english/world/2011-12/16/c_131310801.htm
Two bills were introduced in the House of Representatives on December 15, 2011 which seek to immediately alter the metallic composition of the one cent and five cent coins. Although the text of the bills is not yet available, statements released by Rep. Steve Stivers who introduced the bills H.R. 3693 and H.R. 3694 indicate that the legislation would require the coins to be made from steel.
“This legislation is a common-sense solution to decrease the cost of minting pennies and nickels,” said Stivers. “Not only will it cost less, but steel is an American resource that we have and can manufacture right here in our backyard.”
Since 2006, the cost to manufacture and produce both the cent and nickel have exceeded their face values. Based on the most recent information from the US Mint’s 2010 annual report, the costs were 1.79 cents for each cent and 9.22 cents for each nickel. The total losses related to producing cents and nickels from 2006 to 2010 are $243.1 million.
Under existing law, the Secretary of the Treasury may prescribe a composition of copper and zinc for the one cent coin. Currently, the coins are struck in copper plated zinc with a net composition of 97.5% zinc and 2.5% copper. The five cent coin is currently required under law to consist of an alloy of 75% copper and 25% nickel.
The bills introduced by Stivers would require both coins to be made from steel, with the penny coated in copper. According to Stivers, the appearance of the coins would not change, just the materials to make them..."
http://news.coinupdate.com/legislation-seeks-steel-cents-and-nickels-1117/
ibid.
Hey folks.
I've been suffering a tough cold this weekend. That's one of the reasons I've been invisible. I'm going to be taking tomorrow off and will have some market views to post. I should feel better...couldn't be any worse.
Get well, AT! And in the meantime, folks might have a look at the recent Kyle Bass letter for some Sunday evening ruminations:
http://www.scribd.com/doc/75784106/Hayman-Capital-Letter-Dec-14
Andy - Sorry to hear you are feeling under the weather, Although it is never any fun to be sick, at least it was this weekend and not next. Otherwise in stead of Ho-ho-ho, it would be cough, wheez, sneez.
Them Seahawks are on a tear though, I wonder if they are doing that to get my hopes up, before they start stinking again.
Mangy Mutt
Kim Jong Il passes.
EURUSD struggling to hold 1.3000.
EURCHF under 1.2200.
Threats of S&P sovereign downgrades this week.
Packers lose. Colts win. Did Vegas get stung?
Who has bets that Philly, over the 'Pokes, is 10-Star "Lock of the Season" ?
(yes, re: NFL)
AAIP
TNX down again. Apparently it didn't believe in the push higher.
DD struggling to hold $44.00.
BAC back to testing its lows (5.03) from the week of the swap lines intervention.
Nothing like slamming a a bunch of NyQuil and sleeping for 14 hours....
@Mutt
Seahawks have been impressive for sure...I hope they make it...it could happen...the Lions could lose their last two games. Seems like a longshot...but stranger things have happened.
AT,
good to hear 'NightKill' is, still, living up to its Name..
though, this: "sleeping for 14 hours...." is, usually, a good thing when 'illin''..gives the Body a chance to 'fight-back', and not have to worry about 'other operations'..
I had a 'Cold', last week..was odd, really Sore throat, w/Earache(s), hardly any nasal congestion, and no chest congestion...
but, definitely, felt so bad that I had to remind myself ~"how much worse I could feel.."
feeling better, now, though, still, not yet ~100%..
AAIP
I'm, still, wanting, to know who thinks the Eagles, over Dallas, is 'a Lock' (?)
personally, I think one can etch that in Stone..
ibid.
How many times will Bloomberg run a story saying that the S&P cut of US ratings was a mistake because investors are buying even more of them? Don't the reporters know the difference between buying for safety and buying because it's a good investment?
Piecing together some stuff on the S&P500...
The last several days price action is NOT bearish looking....it's falling in a really choppy/grinding sort of way....definitely looks more correcting lower than anything ominous.
IOW: I'm not looking for any big drop in the next several days. Looks like a hodgepodge till the end of the year.
Andy T
Unless France loses its AAA rating. Then the chopping and grinding becomes flushing.
Since the SPX is still above its weekly 3LB mid the short/intermediate term trend is bullish. That's fighting the long term trend which is bearish as as there was a monthly 3LB reversal down and we're below the monthly 3LB mid. Once they're back in agreement watch out.
Another thing. The SPX also appears set to close below EMA(10) on the monthly chart. Major sell signal for many traders.
TNX low of 18.10 today (so far). So someone is buying a boatload of 10yr and likely selling everything they can to do so.
Remember BAC traded under $5 in the AH not during regular hours. Not sure what will happen if it trades below $5 during the normal session.
AmenRa,
re:
http://www.finviz.com/quote.ashx?t=BAC
LOD: 5.00 !
ibid.
AAIP
Not any more. BAC low 4.94.
AmenRa,
that Co. (BAC) is a , real, beaut. ...
EPS (ttm) -0.33
Dividend 0.04
Inst Own 57.29%
Insider Own 0.02%
http://www.finviz.com/quote.ashx?t=BAC
you gotta 'love it' when Insolvent firms pay Dividends..
to begin with..
AAIP
Capt'n she can't take any more. She's gonna blow.
Damn the weekly 3LB was in agreement with the monthly 3LB until the last five minutes. Bastids.
new thread
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