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That's it for now. Keep the faith! TF

5:10 pm EDT UPDATE:

11:25 pm EDT UPDATE: What Markus Said! Can't blame it on the Bushster

The teleprompter made him do it. Bankruptcy - No. Cal.: Ch. 20 Lien Strip is ALIVE

Posted here.

Summary: Bankruptcy judge in Northern California rejects lender's argument. Homeowner IS allowed to strip off underwater second mortgage.

@DPH: I would sure like to talk to you personally. It is time to bridge that gap. Please email me through this site; I will reply, then it's time to chat. I'm usually old school soul or R&B but I have broadening my horizons. Nothing to see here.... 10 year T yields show we have

10 year T yields show we have an uncontrolled debt crisis, uncontrolled spending, and hyperinflation. What could go wrong? I just bought my first allotment of gold. Have some silver but wanted to diversify the PMs a bit. Maxed the credit card to get it, am a bit shaky, but with the way things are going I can see PMs as the only monetary protection. Plus, I like the way gold looks. Bling Bling.

If it doesn't pan out (excuse the pun) then I'll just make jewelry.

P.S. One of my co-workers, remarking on today's stock collapse, told me to buy Apple. I'd rather eat the golden/silver apple my friend. I've tried to tell them but they don't listen. Just the beginning.....

Gold does what it should do at this moment, let's see how gold reacts if the insane bonds buying stops....in the near future.

Silver just needs some more confidence to break through...realy break through. Stolen from Trader Dan

Had to do it. A very cool chart. Thanks, Dan! For the POTUS, WH, and Congress



What the hell are you smoking?

Wake up and smell the metal.

The bank is bull.

The metal is real. Illuminati calling card

S&P dropped 6.66% ~ 6th largest one day drop ever

The lack of sell triggers getting hit today tells me the algo's are juicing the drop. This is very orderly and orchestrated. Someone is buying all the way down right now, which tells me when the turn comes it is going to be a rocket shot up... as for the PMs, it's all good, Ben's warming up the helicopters. Senate Banking committee probing S&P downgrade of U.S. credit ra

Yeah, that'll help

"FLASH: Senate Banking committee probing S&P downgrade of U.S. credit rating -aide" Gold's Friday close

Gold will close on Friday at the US Treasury @ $42.67 Ahhahahaha! Please check the update 5:10p BREAKING NYSE-listed Turd Check it out


I just found out that the widely followed and highly-visible-on-CNBC Dennis Gartman cut his gold holdings in half on Friday! Those of us in the precious metals investing arena have been saying for years that Dennis Gartman is the ultimate contrarian indicator! Reminds me of when he dumped his gold holdings at $550 in the summer of 2005 and missed the entire run up to $735! Another 34% run without Gartman on board will take us to $2250 (based on Friday's close)!!!

Ha ha ha ha ha what a loser! Blythe's blog found

Her very pompous blog/resume is here: https://blythemasters.blogspot.com/

She's obviously too busy to check it today and ZH/SGS trolls are running rampant.

While Blythe's away, the trolls shall play... Gold up 3.32%. Silver up 1.74%. And this idiot LOST MONEY!!!! If I can't make money on a day like today when can I????

Silver miners DOWN 7.5%. Worse than the market, with silver bullion up....??????

And CEF which is where I hold most of my gold and silver bullion, down also. Should have been up 2.5% based on the bullion price alone!!!!

No celebrating for me. Congrats to all who did make some gains today. Just for those who haven't seen them:

https://www.youtube.com/watch?v=IF24atvNkSo&feature=player_embedded - Jim Sinclair

https://www.youtube.com/watch?v=HHXdO7MrIWI&feature=player_embedded - Eric Sprott

Great stuff like usual. SENATE probe S&P

"Let's decide how we shoot this messenger." What a farce. I make predictions for two reasons:

(1) I believe that the great strength of this blog and forum is the compendium of experience and wisdom of the contributors. If I can share my humble viewpoint with others, maybe what I say or share helps someone to make a correct decision, or at least become informed as to the variety of viewpoints out there, and take comfort in the knowledge that there is someone else that shares a similar viewpoint. I too have taken comfort from that in the past, so I KNOW how important it is to get justification for one's beliefs in the face of massive disinformation from TPTB; and

(2) I want to be able to look back and see if my analysis at the time was well-informed, and correct, or not, then if not, I want to reflect and see what it was that led me astray, or caused me to miss the issue, or the conclusion. I have tried my hardest to be moral, and correct, and to be aware, and keep an open mind. It is easy to get lazy and let others do the thinking, but I strive to keep my mind active, and to constantly question everything that I hear and see. I figure, that way, if I make a mistake, or go down the wrong path to a decision, it is solely my fault, and then I know that I can live with my decisions without blaming others. It has taken a long time to get here, but it is the right path.

So, it is easy to go back and read what I had already posted, plus, actually posting here, in public, keeps me honest with myself. It is plain and simple, no exaggerating, or having selective recollection.

So, with that in mind, I predicted the following, yesterday morning:

(1) Spin from mainstream media will portray that nothing is wrong;

========> correct

(2) PM's will suffer mixed fate: silver will be very volatile, closing up near $40.00; gold will cross $1,700 and close at $1,685;

========> missed that one, but what happened?

(3) Stocks suffer, down lower;

========> correct.

(4) Miners, I am not knowledgeable enough to comment;
(5) Europe announces their own massive version of QE, EUR/USD rises;

=========> correct.

(6) More pressure mounts to sack Geithner;

=========> Boehner, et al., are playing the politics on this one, lots of articles on this issue.

(7) The Bernank sits on his thumb waiting for orders to announce QE3;

==========> sure enough, watch Bernank announce QE3 tomorrow.

(8) China/Russia continue to bash US, with meek, timid response from Barry;

==========> perhaps the easiest prediction to make; Barry is a now correctly seen by the sheeple as an empty suit. We all know he is a puppet, nothing new here.

(9) Rumors of war grow louder;

==========> strangely, silent on this front. I cannot believe I missed this. I believe strongly that something is on the horizon on this issue.

(10) Major financial institution announces substantial losses, prompting emergency, high level meetings, leading to announcement of QE3 by Labor Day;

==========> right on cue, BAC gets sued by AIG, this morning, fraud, etc., epic wrongdoing, lawsuit exposes highest levels of corruption and mismanagement. The fact that this lawsuit is being filed is amazing. That tells me that the elite are turning on one another. The shit HAS hit the fan, cover up!

(11) Geithner "resigns" by end of the month;

==========> As Geithner says he is staying on, that to me is the surest sign that he is lying. He is out by end of August. Fact.

Pretty good, huh? Except for silver volatility. What the hell? That concerns me a great deal. I am looking for a major plunge in paper silver, and hence, the Comex price. I would not be surprised to see spot get below $36 this week, as there will most certainly be a raid. I hope to be dead wrong on this, but I just cannot shake my gut feeling on this one. ZeroHedge QE3 prediction

So ZeroHedge has predicted QE3 to be announced tomorrow. What do you guys think? ZeroHedge, more often than not, gets it right. Gold prices after QE3 announcement tomorrow? Did I hear him correctly? I only caught the last half of Obama’s speech.

Normally I like to hear the words from a speaker in order to know what was really said, but with Obama, that is not necessary. The full text says it all. He is so absolutely predictable in how he reads from that teleprompter.

So according to Obama, the US credit rating is still AAA. He proves this by saying that Warren Buffet says so and that “most of the worlds” investors think so also. Later he says that the markets “continue to reaffirm our credit as among the world’s safest.” I wonder if he or any of his staff ever look at stock charts But even as he is speaking, the stock indexes are free-falling, there are riots in London, Morgan Stanley’s servers crash—probably overwhelmed by panicking investors, and our good friends at JPM say gold is headed to $2500 by the end of the year. I wonder what Buffet shorted today?

Obama then has the audacity to blame the problems on “a string of economic disruptions in Europe, Japan and the Middle East” that he identifies as “Earthquakes, spikes in oil prices, slowdowns in other parts of the world.“No problems here. In Obama’s world, the credit downgrade was simply the straw that broke the camel’s back. This was certainly not his, nor Timmy’s, nor Ben’s fault. But he cannot deny that a problem exists, though he would if he could. So he vilifies congressional representatives that demanded fiscal change and declares that they refused “to put what’s best for the country ahead of self interest or party or ideology.” Perspective is a funny thing. Although they have some controversial planks in their platform, I thought, above all, the Tea Party wanted fiscal responsibility. Wouldn’t a balanced budget be good for the country?

But Obama has a different solution: “Tax Reform” (meaning higher taxes) and “modest adjustments” (meaning cuts) to health care. I can’t see him cutting much. I expect he will keep pressing for this until he gets it… He winds up the speech with a shameless appeal to our patriotism to deflect attention away from the real problem. America deserves that AAA rating due to our universities, productive workers, innovative companies, and adventurous entrepreneurs.” This is a fabulous segue into his praise of our servicemen. Hard to stay angry at him when he discusses their sacrifice. But, I have a problem with the ethics of attacking political enemies under the cover of a eulogy for our military personnel who were recently killed. Two issues, two speeches!

But the credit rating isn’t a reflection of the US people and their fine qualities, it’s a reflection of Washington cronyism and our sycophantic politicians who enjoy their perks and are indebted to their supporters and lobbyists. And now the Senate wants to investigate S&P. That ought to help! It’s the age-old strategy of “attacking your accuser” when you are in trouble.

Obama! It’s time to man up, take your share of the blame, and dedicate yourself to helping the people who voted for you, not serving the banksters who funded you. GreenSpahn is a barbarous relic

Greenspawn, doing his best Mr. Magoo imitation, noted over the weekend that the US will never default on its debt because it can always print money. Obviously he escaped his nursing home. One wonders why he is allowed to pontificate on anything anymore now that it should be apparent to anyone with an IQ reaching triple digits that printing money doesn't work and at some point people will understand on a fundamental level that paper, is well, paper. Perhaps Greenspawn thinks that he is still the Maestro, when in fact the only thing he orchestrated was blowing bubbles. He is a barbarous relic best forgotten, a fool who thinks he has something to offer the sheeple. His legacy should be summarized in three words--"I blew it." The bubbles, that is.

PS- 1101 on the S&P is a 38.2% retrace of the entire move from 666 to 1370. I think we get there tomorrow and my guess is that it will hold. Just a guess. some bonds are already "free

some bonds are already "free falling" in price. Of his own making debt will be obummers's reelection waterloo. His handlers had already concluded long ago that with the amount of chaos he was capable of creating, that he might not get re elected for a second term anyway. The handlers plans for consolidation of the once great American republic into the worlds largest socialist debtor state is right on schedule. If you have not secured metals, at this juncture it is getting late, and you might want to think more about securing proper quantities of food and other staples so as minimize any hunger or discomfort caused directly by the interruptions of trains and trucks delivering these items to your local grocer. Hi: Icaus

I own some CEF too----imho, even tho it holds physical gold and silver its traded as a stock and people sold it into the rally and it went down---it will go up again am not selling mine. Keep the faith my friend. QE3 probably will be revealed around Jackson Hole

My bet is there will be a few more down days (AKA mining equity fire-sale) in the broad market while gold goes higher and silver ranging around 40. Looks like Blythe's plan is to drive silver buyers to gold so that she could have some breathing room. The current gold / silver ratio and margin requirement make gold more attractive to hedge fund speculators. I think it's intentionally that way. Well Said Doc J - 10,000 Hat Tips!! Then why was GTU (same management) up over 4% today? 




Inversion Immersion

After years of warning, yield curve inversion is finally here.


Holiday Week

Expect some volatility.





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