Tuesday, August 2, 2011

Tuesday cinema & library (updated 11 pm HST)

On Tong Society, Honolulu

2:56 pm (Hawaii) Overnight action overseas is never dull. Since my interest in gold and silver began in the spring, I became addicted to checking spot prices in Asia and Europe. It's not to the point where I need to check every 5 minutes or 30 minutes. But it's always interesting to see where price goes with or without blatant manipulation by Comex.

Currently, gold is at 1657 and silver is 40.65, both holding up fairly well since the close in New York. If the market, indeed, collapses in the next day or two, I may regret not going short via QID or FAZ. But I'm content with my mostly cash and physical metals position. In a worst-case scenario, the market plunges, money is pulled out of paper metals and physical metal price follows. Then I'll be happy to grab as much physical as possible at 39 or 35 or 32. A man can still dream.

Bigger picture, are we on the precipice of a gargantuan crash, or are we at now at the foot the QE3 mountain?

3:27 pm (Hawaii) Just starting on today's cinema and library. More coming later this afternoon. It's a hot summer afternoon in Honolulu!

Video
Steven Colbert: Explains the debt ceiling deal and coming Super Congress (Aug 2)
BNN: Yoni Jacobs: Gold bubble (Aug 2)
> Jacobs: Gold going to 500 or lower
Keiser Report: Peak Everything (Aug 2)
CNBC: Marc Faber: China bubble poses global risk (Aug 2)
TheStreet: Cramer owns physical silver (Mar 30)

Vlogs
> Comiskey warns about possible CME margin hikes in gold
> Silver Shield: "It has nothing to do with (the Rothschilds). It has to do with what's going on in (your mind). If you think the thought of slaves, you will become a slave. If you think you're independent and free, and you think logically, they have no effect on you. They can't force you to go into debt. They can't force you to go into war. They can't force you to do anything. It's your willingness to go along with it that's your problem."
bullorbearreport: Diversification rant - Key to success (Aug 2)
BrotherJohnF: Debt doomed dollar (Aug 2)
chessNwine: Stock market recap (Aug 2)
manoftruth: Stocks plunge, gold soars, mountains stable (Aug 2)
ScrapGoldBusiness: Silver and gold officially unleashed (Aug 2)
Bob Flower: The Master Pattern (Aug 2)
Sean Brodrick: How low can gold go on a pullback? (Aug 2)
GoldSilver.com: The story of money vs. fiat currency (Aug 1)

Audio
Kerry Lutz: David Morgan (Aug 1)
King World News: Jim Rickards (July 30)

Reports
MarketWatch: Moody's confirms US AAA rating (Aug 2)
Bloomberg: Fed may weigh more stimulus on slow recovery (Aug 2)
Guardian: Greece in panic as it faces change of Homeric proportions (Aug 1)

Blogs
Turd Ferguson: (pm) Breathtaking (Aug 2)
Turd Ferguson: (am) Rational minds prevail (Aug 2)
Jake Gint: Face your fear (Aug 2)
> "Some of the wilier tells in the mining industry ... stayed up even after the selloff in precious metals later in the day. This is my signal to hold fast and watch the market closely."
Le Fly: (pm) Down the sewer pipe (Aug 2)
> "The mood is outright morbid and we need Uncle Ben to get his 'press on' so we can feel a little bit better about ourselves."
Le Fly: (pm) Deadly games (Aug 2)
Le Fly: (am) Half in (Aug 2)
Le Fly: (am) Can't we just get rid of Europe? (Aug 2)
chessNwine: Stop looking for handouts (Aug 2)
> "One glaring divergence that I see is how well the Nasdaq is holding up."
Stewart Thomson: Dow pipedream in gold coffin (Aug 2)
> "At some point, I think silver disconnects from gold and implodes, while gold sits there watching the action with a smile. I think it happens at prices far above $50 an ounce, but I think it happens."
Rick Ackerman: Deal has something for everyone to hate (Aug 2)
EconMatters: What happens if US gets sovereign credit downgrade (Aug 2)
Bruce Krasting: Red Alert (Aug 2)
SilverGoldSilver: Current observations, Silver, Tinka (Aug 2)
> "My long-standing target is for the $SPX to give half of QE2 back — and that puts us to the 1225 area."
Jake Gint: Out of the woods? (Aug 1)
> "I actually bought some NUGT and DGP on Friday, thinking the veil will be dropped a little bit on the Emperor when this deal gets done."
Larry Edelson: Drastic measures needed now (Aug 1)
> "There's no question you must continue to protect your wealth like never before. That means holding gold in various mediums: physical, ETFs, gold mutual funds and mining shares. Staying OUT of the US Treasury note and bond markets. Period."

Blog commentary
vamoose1: silver (Aug 2)

Metal bling

Photo: Paul Chelsey, Honolulu Magazine

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