Tuesday, September 6, 2011

Tuesday cinema & library (updated 200 am HST)

Utrecht Astronomy Library

11:14 am (Hawaii) What a wacky few hours. I saw the Dow Jones go from -200 to -140 or so, back to -200, then to -100. Whatever. The machines are in charge, as usual. But to see AAPL finish the day up 1.5% ... if you believe that the market follows its leaders, is this a positive for the bulls?


With the Euro and dollar up on the bizarro move by the Swiss to dive headfirst into the Euro Pool of Vomit (not to be confused with the Dollar Barf-O-Rama), is there any question that puppetry is alive and well in the Western world? I'm watching from afar, content to remain all cash in this ghetto palace of horrors. When FAZ returns to 55 or 50, I'll follow my nose into the stench of bankster sewage. By then, DGP might be down to 60 and AGQ could be sub-200. Then it gets real interesting.


Blogs
(new) SRSrocco: Frustration with gold-silver analysts (Sept 7)
"James Turk, Rick Rule and John Embry fail to understand the FALLING EROI and its impact on mining going forward. A good percentage of Junior Explorers will never reach the commercial mining stage due to the collapse of the world's financial system, declining ore grades and the falling EROI."
(new) SGS: CFTC Bart Chilton ready to take the stand? (Sept 6)
"Something struck Harvey today, and he spilled the beans."
(new) Le Fly: In big at the end (Sept 6)
"The shadows near my favorite urinal started talking to me late in the day, insisting that I sell my TZA and indeud replace it with egregious amounts of TNA and FL."
(new) Le Fly: Having trouble buying here (Sept 6)
"I am very much interested in going long here. However, I musn't betray my disciplines, buying into names that are in danger of an EPS cut."
(new) Le Fly: Pardon my lack of enthusiasm (Sept 6)

"I never besmirch my fellow investor for trading the tape in front of him. However, you can't go around acting like you have a dog's brain, either. For once, why don't you get ahead of the curve and quit picking up the scraps? ... With the Swiss Franc getting obliterated, thanks to the peg, I'd avoid gold as if it were the Black Death itself. There is a bubble in non-risk assets."
(new) Jake Gint: From my cold, dead hands (Sept 6)
"I believe lovely Skiffles (SKF) is a longer term hold here. ... I'm not even 50% invested in Skiffles, and this is going to be the death trade going forward, by the hammers of Thor and the jockstrap of Odin."
(new) Jake Gint: Where's the safe bet? (Sept 6
"I don't believe SLV and GLD are 'false flag' operations. ... I could be incredibly naive, but I trust the current rule of law enough to believe the audits of these depositories are valid."
Dan Norcini: Daily Comments (Sept 6)
"Have you notice by now that the only thing Central Banks these days seem to be providing is more confusion, uncertainty and volatility?"
Chris Duane (Silver Shield): Even the powerful Swiss Franc gets debased (Sept 6)
"There is not one paper asset in the world that will survive when the dollar collapses. This single largest event in human history will decimate all paper assets, as we finally learn what counter party risk means."
"I promised you on Saturday, that we would get an extreme volatile day today and the bankers threw everything at the gold/silver Comex trying to quell demand. The Swiss tried to stop its currency from being a safe haven by basically pegging it to the Euro. That leaves gold and silver as the last bastion for safe haven status."
Turd Ferguson: (am) Three great ZH reads (Sept 6)
Bruce Krasting: On the Swiss move (Sept 6)
"Do the Swiss have the will to take this fight to the bitter end? Are they so stupid to think that the floor on the Franc has no risk attached to it?"
"As for the amount of times the idiots will need to realize that QE3 coupled with the SNB action means that gold is now valued somewhere well over $2000: at least a few days."
"Nixon had no choice but to jettison paying trade debt in $35/ounce gold. With huge structural deficits required to soak up the surplus production of the free world, the gold would soon be gone and so would the U.S. market for allies' goods."
Economic Collapse: Euroland financial system doomed: 20 quotes from Euro leaders (Sept 6)
"76 percent of Germans say that they have little or no faith in the euro and one recent poll found that German voters are against the introduction of "Eurobonds" by about a 5 to 1 margin."
"The Chinese and other Treasury holders will likely use the Fed bid as an opportunity to dump big blocks of their holdings into the market, as they continue to make good on their publicly stated promise to diversify away from holding U.S. dollars."
DTOM: The looting of America: Command Center Wallshington (Sept 6)
"In the early 1990's, Catherine Austin Fitts' company developed software programs that ... moved people off public assistance into productive jobs. Problem: this ruffled the feathers of corporate insiders who were making easy money from their rigged bidding monopoly."
"We are creating that type of pattern where we are really going to start accelerating higher over the next quarter. Silver will take out the $50 highs and will go pushing into the mid 60's."
"Participants will shortly be able to go buy gold on the Pan Asia Exchange, knowing it is backed 100% by physical metal. This is China's way of bringing the RMB into the international market over time as a reserve currency."
Turd Ferguson: (am) I hope you're ready (Sept 6)
"There is no double-top. That talk is all EE-inspired nonsense. Remember, the Forces of Darkness will always attempt to create selling by painting double-tops, reverse H&Ss, ORDs, etc. Do not fall for this foolishness. Gold is going higher.
Chris Duane (Silver Shield): The meek shall inherit the earth (Sept 6)
"When the dollar collapses, I will be looking forward to communities that will attract the best and brightest to start a new future. These communities will have low taxes and regulations and appreciate the wealth and intellect that it took to invest in precious metals when the world was drunk on the dollar."
Business Insider: Nomura on what the big Swiss move means for gold (Sept 6)
"CHF's appeal as a safe haven is diminishing given the SNB's attempts to weaken the currency. Hence, we could see a situation where gold strengthens and CHF weakens going forward."
"Big banks and their attorneys are more likely to pursue what insiders describe as an all out war strategy in which they go after Fannie Mae and Freddie Mac."
"Respect the risks, as well as a potential catalyst tomorrow (German vote)."
"The costs of supporting weak member states, particularly from the German perspective, are less than the costs of disintegration. It is a dangerous illusion to believe that a country could do better should it reclaim the sovereignty it has delegated to the EU."
"This why gold's relentless upside advance continues to surprise so many market observers, they don't understand the power of phase II. The manic phase II lies in the distance somewhere."
"One should be foolish to expect anything good anytime soon when all stimulus has been withdrawn, and austerity mode is full ON. The most significant development in the last days is not in the stock market, but in the PIIGS crisis again."
Andrew Cockburn: How the Teamsters beat Goldman Sachs (Jan 8 2010)
The union made it clear that they were prepared to name names. ... Goldman proved unwilling to be charged with throwing 30,000 truckers out of work. The bank not only caved, but offered its help.
Vlogs
(new) manoftruth: Gold hits $1922, where to next? (Sept 6)
Endless Mountain: The Silver Log (Sept 6)
Endless Mountain: Swiss Franc volatility (Sept 6)
ScrapGoldBusiness: Gold and silver report (Sept 6)
Christopher Greene: Stage 2 of the economic collapse (Sept 6)
H1INC: Gold to silver ratio (Sept 6)
wepollock: Physical world cascade (Sept 6)
george4title: Why voting doesn't matter (Sept 6)
george4vlogging: Intro to fasting (Sept 6)
ScrapGoldBusiness: Silver to go stratospheric? (Sept 5)

Audio

Blog commentary
EconFreeFall: Western vs Asian Advice (Sept 6)

Book
Ferdinand Lips: Gold Wars (2001)
> The battled against sound money as seen from a Swiss perspective

Reports
Gartman said he regretted ditching two-thirds of his position when gold broke the $1,900/ounce barrier but has replaced half those positions since.

Video
International Business Times: Peter Schiff (Sept 6)



One of my faithful companions


Cheese photo: Derdutchman.wordpress.com


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