Saturday, August 9, 2008
JAMES TURK OF GOLD MONEY More Than a Helping Hand One of the basic functions of a central bank is to act as the 'lender of last resort'. This facility is used to keep banks liquid during a period of distress. For example, if a bank is experiencing a run on deposits, it will borrow from the central bank instead of trying to liquidate some of its assets to raise the cash it needs to meet its obligations. In other words, the central bank offers a 'helping hand' by providing liquidity to the bank in need. The following chart is from the Economic Research Department of the St. Louis Federal Reserve Bank. Here is the link: http://research.stlouisfed.org/fred2/series/BORROW. This long-term chart illustrates the amount of money banks have borrowed from the Federal Reserve from 1910 to the present. FOR COMPLETE ARTICLE (with chart): http://goldmoney.com/en/commentary/2008-07-29.html
Mystery Solved On July 15th the US Dollar Index closed at 71.87, the lowest close since reaching its record low in April. This index was in the process of breaking down, and in fact it had actually fallen out of its uptrend channel on the following chart. However, rather than continue lower and fall off the edge of the cliff, the Dollar Index suddenly and mysteriously reversed course. It has now risen on 12 of the 17 trading days since reaching that low, and closed today at 74.55, a 5-month high. What caused this index to suddenly pull back from the brink and then reverse course to shoot higher over the past three weeks? FOR COMPLETE ARTICLE (with chart): http://goldmoney.com/en/commentary.php
I am getting "bad data" messages from GMAIL. So, if you have sent, or are attempting to send, email to GT... Do so again using my alternate email at: GOLDTRADER@ADELPHIA.NET BUT DO NOT CLICK THE ABOVE LINK, BECAUSE IT TAKES YOU TO GMAIL. USE YOUR OWN EMAIL TO TYPE IN THE EMAIL ADDRESS. Thanks, GT
Friday, August 8, 2008
Dan basically says, in a more concise form than I have been using, that this market can easily tumble due to forced selling by longs, who are getting margin calls, which forces them to sell, as they don't have the funds to meet their margin calls due to their losses in their equity positions, and other markets... It's a self perpetuating situation that only bottoms out when those cherry picking bottom feeders, who wait for the market to come to them, finally decide the market has fallen far enough, jump in with enough volume that all the others see the market turn and also jump in...
The Dow has reached up to fill a gap between 11720 and 11705 and has reach 11710 so far... If it fills the gap, it will probably fall like a rock, maybe even if it doesn't fill the gap gold, meanwhile is susceptible to a sneak attack of selling as you have seen on recent days... offsetting that is the war between Russia and Georgia, always good for gold... Hell, everything' good for gold! Euro is still falling and seems to have detached from gold on interest rate differentials Oil is building a base, or a ledge, one to go up, the other to fall from gold is now approaching its recent high and could suck some more buyers in just before the shorts try to drop it heavily... We shall see!
gold is moving up smartly right now, but there have been too many "sneak attacks" by the shorts right after the day session closes... What with the fighting going on between Russia and it's only colony Georgia...things should only be better for gold as the world starts breaking down into battles for the remaining precious and increasingly scarce commodities needed for survival, number one, but for the maintenance of society and its physical infrastructure, which includes its communications systems, and therefore its financial system.. If that goes...everything goes!
Please pay more attention to my charts at goldtraderrr.blogspot.com Than to my comments during the day... It's very time consuming to do two blogs AND trade gold... A picture IS worth a thousand words...and lots of dollars too!
Gold has formed another short term down flag within the morning's uptrend channel (bold white lines) gold is holding the bottom support so far on three successively higher bottoms... Dollar is slipping down a bit now at .7596 gold is rising well at this moment and taking out the previous top at 86210 as it has just broken up above the down flag just mentioned...good now for the small retracement...then up further Most all rallies are, and will be, sold immediately, but should keep trending higher as gold is forming an encouraging pattern higher which should tempt new buyers in and start scaring shorts into covering their positions and driving gold back up.
Oil bounces up from 115s to 116s Dow zooms up to fill yesterdays gap down on the opening... Gold has nice run up on moderate volume but retraces back down to come close to retesting double bottom lows earlier. now rising on very light volume...but at least rising DOLLAR HITS .7610 and slips back to .7592 gold still creeping back up...
A little pull back for those greedy profit takers or shorts who just went short. and gold pulls back after a bold run up out of the down flag. A quick retrace of 61.8% down to 85910 and gold re-rallies a bit as up volume starts to build again... GOLD IS GOING UP FROM HERE!
Gold is now breaking up and out of the baby down flag and has just retraced 100% of the last down leg and just ticking above the last top at 861 LUCKY CHINESE NUMBERS KICK IN!
Gold is in a baby down flag within this trading range ans should resolve up but it is really taking its time about it and making everyone crazy with uncertainty. Even with the dollar so high, because the Euro has collapsed.. gold is still holding strong at this level and showing buying at the 87550 level for now ANYTHING COULD HAPPEN! But it's time for gold buyers to show the dollar what it's REALLY WORTH!
I have re-drawn all the trendlines to accomodate the new lows just made A larger picture chart is coming soon. The bottom in gold is here now...IMO! I am now long again, having once again lifted the short leg of my DEC/OCT hedge Very scarey on that last down move, but it only wanted to go down and test the bottom RED trend line.. Gold never gives up until it has tested EVERYTHING, driven you completely NUTS!, before it will move where it's supposed to DUE TO FUNDAMENTALS..! Right now it is working the bottom, as the shorts seem to be getting tired of pounding gold against some eager buyers, more of whom should be jumping in soon, but once again, if gold doesn't move up smartly off these lows, the shorts will jump on it again and drive it lower as all the recent longs will panic and sell out! UP VOLUME IS MORE TEPID than I would wish and for too long here! But at least gold is inching higher, but not by much!
Gold has formed its down flag which will resolve up! gold volume up is becoming better than down volume very sketchy volumes today, much lighter than usual but everyone is playing the waiting game waiting for the dust to clear while the smart traders are now buying in.. If gold breaks out the bottom of the down flag (white lines on chart) the game changes! But I see it stabilizing right now and the bulls MUST MOVE IN NOW or it goes down some more! Dollar is pulling back a bit 6:53AM PDST GOLD TAKES ONE LAST DIP TO SCARE THE SHIT OUT OF EVERY LONG THEN GOES UP! Gold has to go down to test the RED lower trendline of the MAJOR down flag
ECONOMIC REPORT U.S. productivity stays solid as hours worked fall Inflationary pressures muted; real compensation falls What bullshit! This economy is in its death throes! More work squeezed out of last worker to have a job raises productivity!
6:00ampdst Gold is going to re-test the low or at least do a 75% retrace to 86310 The usual pattern is for it to go down to the low, go a bit lower, scare you to death and then zoom up to new highs, or in this case, a lot higher... No time to check all the markets, but I just know they're all in a frenzy! DOLLAR MAKES IT ALL THE WAY UP TO .7590!
Gold is taking out trendline after trendline Volume is now increasing... This is the BIG DAY when all the BIGGEST WINNERS ARE MADE for the rest of the year! When gold finally hits its bottom in a few minutes The BIGGIES ARE GOING TO POUR IN! And gold is going up from here FOR GOOD!
When the reports come out in a minute, gold is going to go crazy in ALL DIRECTIONS....AND FAST! Dollar is WAY UP! Euro is WAY DOWN! like to last March levels! Oil fell from 121s to yesterday's lows at 117.14 and is rallying a bit now! Dow still down in the 11400s Bond up in the 116's...what jumps. lock your money in a low rates forever! Here we go...HANG ON TIGHT! 5:35AM PDST All this thrashing around in gold is on LIGHT VOLUME! These moves can be treacherous for traders.. At this moment gold is going down to test the low.. $860 is NOT OUT OF THE QUESTION!
TODAY'S REPORTS: Productivity ALL AT 5:30AM PDST Unit labor costs Wholesale inventories HOLY SHIT! Opened my eyes around 3am looked at my laptop and thought I'd lost my mind... I probably have, but that's beside the point. Gold has completely fallen out of bed as the news says that Asia sold off stocks and the kitchen sink, due to the Dow sell off in the U.S. yesterday? Thus gold goes DOWN? Yeah, right.. I feel like I'm reading a foreign language you have to read BACKWARDS and UPSIDE DOWN whenever I read the "financial news"... Pravda was more honest! It looks, once again, like the BIG BOYS are going to manipulate the markets until they have choked out every honest investor still breathing! This is the "seasonal" wipe out that makes you wonder if all of Austrian Economics is bullshit! Well, NO! IT IS NOT! And you are going to see why not very soon when the lid is lifted off this steaming pot called GOLD! You can only hold your finger over a streaming hose just so long before the pressure wins! more shortly...
Thursday, August 7, 2008
This is Horseshit By Cindy Sheehan " It is not if we will be extremists, but what kind of extremists will we be?" - Dr. Martin Luther King, Jr 07/08/08 "ICH" -- - -
You know, I don't care if it's not proper for a Congressional candidate to say: "horseshit." I don't care if it is not a good "tactic" to get kicked out of a Congressional non-impeachment hearing that was just a bunch of horseshit anyway. I don't care if I get accused of being too "extreme" for bucking the (cyst)em by doing everything form camping in a ditch in Crawford, Tx to non-violent civil disobedience to, lately, running for Congress as (oh no!) an independent.If people can't see how this nation is teetering on the precipice of financial ruin and dragging the rest of this planet down with us as we destroy our ecology, too…and if people don't realize how desperate our situation is, then I must say, that's horseshit!I am angry. No, I am incensed that hundreds of thousands of people are dead, dying, wounded, displaced from their homes or being imprisoned and tortured by the sadists that reside or work at 1600 Pennsylvania Avenue with the approval of their accomplices down the road in Congress. I am furious that I buried my oldest son when he was 24 years old for the unrepentant lies and the unpunished crimes of the Bush mob. Are you incensed? If not, maybe you should ask yourself: "Why?" Hypothetically: "Why am I not enraged that my country has killed or hurt so many people for absolutely no noble cause in my name and with my tacit approval?" I am steamed that the working class has to, once again, pay for the excesses of the capitalist criminals that feeds its rapacious appetite with the flesh and blood of our children and won't rest until it owns every penny in this world and has all the power.You may say, "But Cindy, it is not polite to be angry or to use such strong language in public." Horseshit! In my opinion, every citizen in this country should rise up in anger and DEMAND that George Bush and Dick Cheney not only be impeached and removed from office, but be tried and convicted for murder and crimes against the peace and humanity!We should all walk off of our jobs and refuse to work and refuse to be cogs in the wheels of psychotic consumerism until our troops, military contractors and permanent bases are removed from Iraq and Afghanistan. We should, but most of us won't. We won't because it may mean that we would lose something of "value." Material possessions are so transitory, as are our lives. We can leave a lasting impression by our courageous activism and moral sacrifice, or we can leave a pile of rusting metal or rotting wood. I choose the former for myself.We should come out of our comas of too much TV news and not enough non-biased information to push for alternatives to fossil fuels that are clean and renewable and protest nuclear facilities and off-shore oil drilling like we used to in the olden days when people actually cared enough about not poisoning our world to get off of their couches or (today) out from behind their computer screens to do something constructive instead of complacently shelling out hundreds of dollars a week for gasoline and food. I get so pissed off when one of my supporters has a tooth ache and can't afford to go see a dentist to fix it or when my sister has had a cough for almost two years and doesn't have the health insurance she needs to get fully well. And when I think that almost 50 million people in this country are non-insured or under-insured, I see red. Why, in one of the wealthiest countries in the world, do some have the "privilege" of being fully insured and healthy, when health care is a basic human right, not a privilege for the elitists? My heart hurts every night when the men who sleep propped up against my campaign office, huddled under their blankets against the San Francisco chill, wish me a "good night" and I can't choke the same words back to them, or do much of anything but give them coffee to keep warm and books to read to help pass the time. My campaign office is being visited on a daily basis by Iraq war vets who can't access the help they need to get physically or mentally healthy---and I am "extreme" because I actually want things to really change and choose to act on this desire and not sit around passively pretending that this horseshit doesn't exist? Since Casey died, even though every day I am filled with pain and longing, I have tried to be the poster-mom for this pain telling my neighbors and fellow Americans how it feels to be profoundly hurt by the Military Industrial Complex and that it wouldn't be too long before the cancer of BushCo would strike every American home and now that this prediction is awfully coming true, I see more and more apathy and less and less action.Three years ago today, I first sat in a ditch in Crawford, Texas and three years later, we are in dire straits, my friends, and the prognosis is not good, unless we all make a conscious effort to sacrifice some of today's comfort for the sake of our children and grand-children's futures. Sixty-three years ago today, the monsters of the US war machine dropped a WMD on hundreds of thousands of innocent women and children and since then, this nation has just descended into a further spiral of war and profiting from war and preparing for war and more profiting from war; which is destroying every aspect of our society and we MUST reclaim our very souls from the Military Industrial Complex before it is too late.Please don't wait for November, or January or for the Dawning of the Age of Aquarius because every second we allow this demented pattern to continue, is one second too long!Get moving!
4 comments: geist said... Tom Feeley who runs informationclearinghouse.info threatened!http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x3744026Snip...."Tom has gotten his share of death threats over the years, but what happened this week is a lot more serious.Two days ago, Tom's wife found three well dressed men in their kitchen. The man who did all the talking, told Tom's wife (I won't give her name) that Tom must "Stop what he is doing on the Internet, NOW!" As crazy as it sounds, he pulled back his lapel and showed her a gun of some kind which she could not identify. Like I said, Tom has been threatened before, but nothing like this. 4 years ago, he was in a parking lot at Long's Drug store in Southern California and when he tried to open his door to get out, a man in a car next to him opened his door at precisely the same time which prevented Tom from getting out. Then, a 40-ish year old man got out of the passenger side of the vehicle and approached Tom saying, "You need to stop what you are doing on the web". August 7, 2008 2:21 PM Clymer said... Yup, Geist: I read this too. The same thing is happening to many others. None the less - Tom Feeley can't give it up. Alex Jones can't give it up. No one can. The fact that the fed's are going after 'fringe' groups is testimonial to the fact that they are scared. The web is a huge threat to them.Recently, a loosely tied group of anonymous people, just like us used the internet to mount a counter to the Church Of Scientology.here is there initial transcript: I replaced the words Scientology, with NWO: -----------------------------------Hello, leaders of the new world order. We are Anonymous.Over the years, we have been watching you: your campaigns of misinformation, your suppression of dissent, your litigious nature; all of these things have caught our eye. With the latest attacks on those who bring attention to your affront to freedom, the extent of your malign influence over those who have come to trust you as leaders has been made clear to us. Anonymous has therefore decided that your organization should be destroyed. For the good of your followers, for the good of mankind, and for our own enjoyment, we shall proceed to expel you from the internet, and systematically dismantle the new world order in its present form.We recognize you as serious opponents, and do not expect our campaign to be completed in a short time frame. However, you will not prevail forever against the angry masses of the body politic. Your choice of methods, your hypocrisy, and the general lawlessness of your organization have sounded its death knell. You have nowhere to hide, because we are everywhere. You have no recourse in attack, because for each of us that falls, ten more will take his place.We are cognizant of the many who may decry our methods as parallel to those of the NWO, those who espouse the obvious truth that your organization will use the actions of Anonymous as an example of the persecution of which you have, for so long, warned your followers. this is acceptable to Anonymous. Over time, as we begin to merge our pulse with that of your order, the suppression of your followers will become increasingly difficult to maintain. Believers will become aware that salvation needn’t come at the expense of their livelihood. They will become aware that the stress and the frustration that they feel is not due to us, but a source much closer to them. Knowledge is free.We are Anonymous.We are legion.We do not forgive.We do not forget.Expect us. August 7, 2008 4:29 PM Clymer said... This post has been removed by the author. August 7, 2008 4:50 PM Clymer said... And not for nothing - but the corporate-owned propaganda machine called major network news needs a message too:Dear News Organizations.We have been watching your reporting of Anonymous's Conflict with The New World Order. As you said. The so called New World Order, have actively misused the levers of power entrusted to them, in pursuit of their own agenda. They attempt, not only to subvert free speech, but to recklessly pervert justice to silence those who speak out against them. We find it interesting that you did not mention this in your news reporting. The stifling and punishment of dissent within the totalitarian organization of New World Order. The numerous human rights violations. This Cult is Nothing but a psychotically driven pyramid scheme. Why are you, the news media. Afraid of discussing these matters? It is your duty to report on these matters.You are failing in your Duty.Their activities make them an affront to freedom.Remember. All that is necessary For the triumph of evil Is that good men do nothing.This information is Everywhere.It is your Duty to expose it.It is easy to find.Google is your friend.This is not giving attention to fringe groups,But the suppression of a powerful, criminal fascist regime.It is left to Anonymous.The NWO has been declared Fair Game.It will be dismantled and destroyed.When Anonymous, sees an evil fascist brainwashing organization.Anonymous knows, it has to help mankind.Because Anonymous knows that it is only Anonymous that can help.Members of the NWO.Anonymous is not your enemy.The NWO is your enemy.The NWO has enslaved you.Free Yourselves.Change, does not roll in, on the wheels of inevitability.But comes through continuous struggle.Freedom is never voluntarily given by the oppressor.It must be demanded by the oppressed.Take it. Demand it.We are Anonymous.We are Legion.We do not Forgive.We do not Forget.This is only the beginning.Expect us. August 7, 2008 4:51 PM Post a Comment
Topic: Weasels.......DIAMONDLOU!!!... AND GOLDOPTION!!! (7 hours ago) I AM AMAZED ON THE AMOUNT OF PEOPLE WHO TALK ABOUT GT AS IF HE WAS JESUS CRIST!! (spelling of the Lord's Name? GT) I MEAN COME ON HE WAS A SAD LITTLE OLD MAN (caca...I happen to be a VERY BIG old man who could stomp your pitiful little ass into the dirt...anytime...anyplace! GT) WHO SIMPLY LOVED HOW PEOPLE WORSHIP HIM!!! PLEASE BE MORE SERIOUSE STOP THIS STUPID FIGHT AND START LEARNING. (maybe if you and that other little asshole ungar506 had not initiated the situation with ungar's hostile post initially, and the fact that YOU joined in with your illiterate and venal comments...there wouldn't be "a stupid fight"...you dumb fuck!...GT) JIM SINCLAIR DOES MORE THAN WHAT GT DID AND HE NEVER ASKED PEOPLE TO BEG HIM TO STAY. I AM HAPPY THAT GUY WAS BANNED FROM THIS SITE. GREAT JOB MARKET WATCH. (Until it happens to you cacatui!... GT) OH AND FOR ALL YOU OTHERS WHO KEEP CRYING GROW SOME B$#"#ALLS TUI.
Posted On: Thursday, August 07, 2008, 9:12:00 PM EST Sleep Well Dollar Holders Author: Jim Sinclair Sleep well all you dollar holders in the belief that public funds will solve everything. The next time you hear a politician use the word "billion" in a casual manner think about whether you want them spending YOUR tax money. A billion is a difficult number to comprehend but one advertising agency did a good job of putting that figure into perspective. Here it is: A. A billion seconds ago it was 1959. B. A billion minutes ago Jesus was alive. C. A billion hours ago our ancestors were living in the Stone Age. D. A billion days ago no-one walked on the earth on two feet. E. A billion dollars ago was only 8 hours and 20 minutes at the rate our government is spending it. Now think about the size of the notional value of the mountain of all derivative of which 95% are OTC Derivatives: One Quadrillion, one thousand one hundred and forty four trillion. (Source: The Bank for International settlements). Many people out there are resting assured that all financial problems have been solved by the use of public funds to sustain those that created these problems in the first place. If you can sleep soundly with such a brew boiling while believing there are no CONSEQUENCES, you are taking some heavy duty sleep medication. Public money will not solve all problems and if there isn't enough we will simply print more. That's a recipe for disaster
Gold gets hit right after the close on some fairly strong volume for a few minutes but manages to rally on some very light volume which means the shorts who pounded gold didn't have any more bullets and light volume up could over come their attempt to "paint the chart" downwards to scare more traders into selling in panic... now the shorts have to cover those positions they just sold by buying contracts which will drive the gold price UP! QUITE A GAME...HUH, FOLKS?
VERY LIGHT VOLUME on the sell off into the close fairly sizeable bids coming in in spurts so there are buyers here I expect gold to go up after this close gradually all afternoon and over night! dollar makes it all the way up to .7480 before slipping back to .7469 on my delayed charts last minute of trading shows 685 contracts on a down tick some is up and most would be down volume... not abnormal on a last minute of trading, but the price did drop below the blue, very short term, up trendline which will now be redrawn or eliminated because it's so near the recent low at 87650 and gold is now just slipping lower on light volume but with upside bounces...
very light volume on any rally..100 or less contracts is average.. maybe a good jolt every now and then...but nothing consistent.. The oveall down volume hourly is quite high reaching 25K contracts in the 7am hour then declining each hour...8am: 10K...9am: 7K but gold is now rising from below the 75% retracement area at 87760 on very light volume... Could stage a big sell off in the last half hour of the day session unless some BIG VOLUME moves in to offset all this down pressure... Maybe gold just wants to go down to 860 to clean everybodys' clocks before the end of year rally to NEW HIGHS..!
gold sells off on light volume down to the 75% retrace level (see chart) Hopefully, some up volume will move in here to keep it from selling off further Almost no volume at all at 87810 area meaning great indecision on traders' part, but zing a quick jolt of 347 contract to the upside So there are buyer in those bushes...! 50 minutes until the day session close.. We may see a sell off into the close, but gold will probably regain its footing and rise the rest of the afternoon and over night I hope...
Gold has now formed a down trend channel short term (white lines) and an up channel within it (blue lines) this is a pattern that should resolve DOWN! the blue up channel that is the white channel is already pointing down! gold is on the lower line of the blue channel and could fall further before the close of the day session... The dollar is still way too strong and oil is way too weak. the Euro just does what gold does and vice versa...the run together usually the Euro leads gold a bit... More to come...
The dollar has pulled back to .7455 Euro is trying to stabilize after a wipeout down move currently at 1.5346 Oil slipping back and forth between high 119s and low 120s Dow gapped down on the opening and has not filled the gap nor do I think it will...dow going DOWnnnnnnnn! Bonds going up and down in the 115s gold is now trying to climb up the short term up trend line from the recent low at 87650 and is trading up and down along it so I will keep re-drawint the line (blue) to keep it just on the lows gold has also retraced just 50% of the last up move from the low at 87650 it is also just at the down trend line (white) and just broke down to 87920 (61.8%) just under the blue trendline as I type this... Maybe gold will go down and retest the low...wait and see!
gold broke above the short term down trend line and hit 88350 at the top of the new uptrend channel line (blue lines) it's now consolidating to move higher NEW BLOG CHART COMING UP
Gold sold off fast down to 87650 Dec and is now struggling on erratic and lowish volume to rally I am now long Dec after lifting the short leg of my hedge in Oct gold made a little money and now "losing less" in my long leg in Dec gold. PPT went to afterburners and jacked the Dollar up to .7465 but it faded a touch now at .7461 Oil pulled back into the 119s briefly but is now in the 120s barely. Dow at 11550s Bonds at 115.11 Euro at 1.5339 after getting hammered along with gold.. gold now moving up nicely And a little 50% retrace down to 879 for profit taking after a quick 6 dollar run up and making a "mini rhino horn" formation which got sold. But gold gets back on track and booms even higher.... YEA...I DID SOMETHING RIGHT FOR ONCE!
gold is showing no volume to the upside on these little rallies during the big sell off here. Haven't even had time to see what the other markets are doing.. Looks like Euro is down of course Oil still in the 120s after hitting in the 121s Dow at 11510s Bonds up to the 115s Dollar just under .7450
Gold gets hit hard on rising dollar and sinks to 88410 then bounces and is now returning to retest the low. We may see more selling today which is totally opposite to logic after the ECB and Bank of England keep rates steady and Jobless claims skyrocket! Volume is very erratic...maybe 3 minutes of moderate volume up then a sell off and repeat BUT TO THE DOWN SIDE! Who would have an interest in keeping gold low?
Dollar is really booming due to PPT assistance this am.. up to .7438 so far on my delayed charts Euro sinking so gold should be coming down with it Oil has scooted back up into the 120s Dow is still up in the 11500s Bonds in the 115s I think gold is going to get hit some more in NY then probably do the same overnight rally as the last few days... ACQUIRE GOLD IN ASIA...SELL IT BACK IN NY! WHO PROFITS FROM THAT? ASIA!
the dollar really went wild on the jobs report, sinking to .7403 then spiking up to .7432 in five minutes and now at .7425 gold is having seizures going up and down over an 8 dollar range in just a few minutes it's building a down flag to consolidate to move up further... but in this environment of manipulation...and in NY... NOTHING IS FOR SURE! more shortly... NEW BLOG CHART COMING UP!
IF YOU SENT ME EMAIL THIS MORNING G-MAIL SAYS IT CAN'T READ IT DUE TO BAD DATA I HAVE BROUGHT UP MY G MAIL ON A SECOND COMPUTER SO FAR...NO ERROR MESSAGES...BUT NO E MAIL EITHER! SECONDARY EMAIL ADDRESS IS GOLDTRADER@ADELPHIA.NET
PLEASE NOTICE THE POSTING AREA JUST BELOW THAT I WILL RE-CREATE EACH DAY SO YOU CAN HAVE A COMMON AREA TO POST AMONG YOURSELVES! Gold has moved up once again as soon as NY gold closes at 10:30 am pdst... Very little pull back at all in the slow run up. Expect it to get bombed in ten minutes as gold enters NY. TODAY'S REPORTS: Jobless claims 5:30 AM PDST Pending home sales 7AM PDST Consumer credit NOON PDST Please DO POST WHEN YOU COME TO THIS BLOG, so I will know who has made it. If you have any trouble with it just email me at GOLDTRADERRR@GMAIL.COM
Wednesday, August 6, 2008
FROM TIMESONLINE: excerpt: "New microchipped passports designed to be foolproof against identity theft can be cloned and manipulated in minutes and accepted as genuine by the computer software recommended for use at international airports." GOOD WORK GUV'MINT DUDES! http://www.timesonline.co.uk/tol/news/uk/crime/article4467106.ece
FROM JOEL S. HIRSCHORN excerpts: "The unmistakable conclusion from all these data is that no rebellion against the power elites running the two-party plutocracy seems likely. If the bottom 40 percent of Americans in terms of income still believe in the American dream and change-spouting politicians like Obama, it is hard to believe that the more affluent middle 40 percent of the population are ready to support more radical change through political rebellion." "In God and Barack Obama We Trust could be placed on all our currency if the views of millions of Americans are taken seriously. Don’t you feel better?" FOR REST OF ARTICLE: http://www.informationclearinghouse.info/article20445.htm
FROM STEVE WATSON excerpts: "Lawrence Lessig, a respected Law Professor from Stanford University told an audience at this years Fortune’s Brainstorm Tech conference in Half Moon Bay, California, that “There’s going to be an i-9/11 event” which will act as a catalyst for a radical reworking of the law pertaining to the internet." "The Patriot Act, as well as its lesser known follow up the Domestic Security Enhancement Act 2003, also known as USA Patriot Act II, have been universally decried by civil libertarians and Constitutional scholars from across the political spectrum. They have stripped back basic rights and handed what have been described by even the most moderate critics as “dictatorial control” over to the president and the federal government. Many believed that the legislation was a response to the attacks of 9/11, but the reality was that the Patriot Act was prepared way in advance of 9/11 and it sat dormant, awaiting an event to justify its implementation. In the days after the attacks it was passed in the House by a majority of 357 to 66. It passed the Senate by 98 to 1. Congressman Ron Paul (R-Tex) told the Washington Times that no member of Congress was even allowed to read the legislation." FOR THE REST OF THE ARTICLE: http://www.informationclearinghouse.info/article20440.htm
THE U.S. USES THE "THREAT" OF NUCLEAR DESTRUCTION AS THE BASIS OF ITS WAR POLICIES SINCE HIROSHIMA AUGUST 6, 1945
FROM JOHN PILGER... excerpt: "The most enduring lie is that the atomic bomb was dropped to end the war in the Pacific and save lives. "Even without the atomic bombing attacks," concluded the United States Strategic Bombing Survey of 1946, "air supremacy over Japan could have exerted sufficient pressure to bring about unconditional surrender and obviate the need for invasion. Based on a detailed investigation of all the facts, and supported by the testimony of the surviving Japanese leaders involved, it is the Survey's opinion that ... Japan would have surrendered even if the atomic bombs had not been dropped, even if Russia had not entered the war and even if no invasion had been planned or contemplated."" FOR ENTIRE ARTICLE: http://www.informationclearinghouse.info/article20444.htm
I see that DIAMONDLOU and GOLDOPTION (the self-professed greatest analyst posting on MW!) have sneaked into GOLDTRADER'S GROUP to PITCH THEIR GROUP..."GOLD AND SMALL CAPS"! I guess having only 41 members, after being stalled at around 25 members for months, and only posting every 19 days or more...was getting to them. So they finally swallowed their false pride (it almost choked them!) and sneaked into GOLDTRADER'S TEMPLE to see if they could steal some of the flock! If goldmelter gets WARNING EMAILS from MW ADMINISTRATION (for posting that the REGULAR POSTERS at GOLDTRADER'S GROUP have moved to another group, such as CSPAN'S INTERNET FOLLIES) saying that HE is breaking the RULES that MARKETWATCH so vigorously enforces against GT and goldmelter, or anyone else who dares mention the existence of GOLDTRADER.... then it would only seem FAIR to have DIAMONDLOU and GOLDOPTION get the same WARNING for trying to purloin people from ANOTHER GROUP for their group... PLEASE POST THIS ON GOLDTRADER'S GROUP... AND... COPY AND PASTE IT IN AN EMAIL TO MARKETWATCH ADMINISTRATION.... THIS MEANS EVERY ONE OF YOU! (This is about keeping the rules at MARKETWATCH FAIR FOR EVERYONE... It's NOT about GT's feelings or pride about his Group Site.... What's fair for one, should be fair for all... Putting an END to MARKETWATCH ADMINISTRATION'S WILDLY UNFAIR POLICIES IS THE GOAL!)
gold has labored all session to break up and out of the down trend channel (blue lines) on light up volume, but has encountered selling pressure of moderate to strong volume thus pusing gold down to 88050 for the low, which took out the previous major low by two ticks. gold is on the lower edge of the intermediate down trend channel (purple lines on Big Picture Chart coming later) and has pushed the lower line of that channel a pinch lower. Apparently the shorts are taking full advantage of the myth of "seasonality" where August is where gold bottoms before taking off for the rest of the year... Get enough people to believe a thing, and they act accordingly, and it comes true... gold is now selling off rapidly into the close and has fallen completely out of the short term up trend channel (white lines) and is in the middle of the short term down channel (blue lines) Gold will probably rise all afternoon again and over night, only to repeat this process until some exogenous event or report triggers enough fear of the dollar that everyone will run to gold and drive it up. more later as appropriate.... NEW BLOG CHARTS COMING
Gold tumbles to 88150 Dec.. Is digging deep to find some buyers here volume is light 100 to 200 contracts per minute...very cautious a little more up movement finally after building another ledge that it could fall off of if the longs don't get busy and buy in. dollar pushed way up but fades right away just a bit Euro sinking, of course...it moves with gold. or vice versa.. And gold just gets hit with a strong dose of sells and gets knocked lower more shortly...
Gold seems to be having trouble sustaining any rally, even with decent volume when it starts out... The pattern so far is about four minutes of moderate to strong volume, followed by a sell off that either falls off gradually, or plunges like a few minutes ago from 89040 down to 88550 Haven't had time to check other markets, but Euro is now down a little at 1.5383 Oil is at 119 even Dow still in the 11500s at 11532 Bonds at 114.22 Dollar back up to .7435. just under its high at .74375 Not particularly good for gold...but who really cares? The dollar is dead!
Dollar then slips back to .7433 Euro plunges to 1.5377 then rises to 1.5391 at present Oil moves up to 119.50s Dow still up in the 11550s Bonds fall rapidly to 114.12s Gold breaks out of the down trend channel on decent volume then stops to consolidate, but with the dollar so strong... It may not go higher... However, gold is continually in the process of "DISENGAGING" from the dollar and can go its OWN WAY anytime it wants... After all....IT'S THE REAL MONEY...NOT THE DOLLAR! I still see gold pulling back and going lower from here!
There is no big volume to this little rally... I think it will flop and go down some more... volume could begin to build, but usually, when gold turns around, it turns around with a big jump in on significant volume. GOLD NEVER DOES ANYTHING GRADUALLY! If gold does not get past the upper downtrend line (white) it will go back down!
For those who bought at yesterday's low at 88970.. they saw a FOURTEEN DOLLAR RUN UP... and it is logical that they would want to keep that profit, so they started to sell this morning to lock it in... as they did that, more wanted to keep their profits and so on...then the black boxes move in a crash the price. gold is going to test the bottom price at 88070 or go a bit lower than that... If it really starts to fall...here comes 860!
Gold has hit the 75% retrace point of the whole move up from 8856 From 88070 the 75% point is at 88410 Down volume is moderate so far...but if this keeps up everyone is going to bail out and the "black boxes" will start selling and volume will become very big. This could get interesting!
No real strength to the bounce back after the initial sell off Volume is extremely light at only 1.82K contracts in the first 10 minutes which is both the sell off volume AND the bounce... Gold is now selling off and will probably test the old low, or go lower... Gold could test 860 Dec gold according to Dan Norcini's comments last night Where oh where did the gold bugs go? When they finally jump back in, gold is going to ROAR!
Gold begins its sell of as we arrive in NY! Dollar is still goosed up into the .7400s Euro made a bit of a rally but took back 2/3s of it and is now attempting to move back up and is in the 1.5440s Oil has pogoed up and down between 118s and 120s and is currently at 119.25s Bonds are in the 115s, no discernible pattern at any time! PURE GAMBLE TO TRADE BONDS! I expect a big hit to gold right on the opening.. and then for gold to just wander a good portion of the morning what with no reports to react to... We shall see!
GOOD MORNING GOLD BUGS! NO REPORTS TODAY! Gold has been rising ever since it bottomed at 88070 yesterday at 12:50PM PDST after the day session closed and has kept rising all night long without any significant pull backs. What will happen when gold arrives in NY? ALL TOGETHER NOW....IT WILL SELL OFF! more shortly...
Tuesday, August 5, 2008
You better read this one folks! Excerpt: "Many Americans lack the mental and emotional strength to confront the facts. The facts are too unsettling and many are relieved when the “mainstream media” spins the facts away. Many Americans find it too appalling that any part of “their” government, even a rogue operation, could possibly have been involved in any way in the 9/11 or anthrax attacks. No evidence--not even full confessions--could convince them otherwise. Many Americans have welcomed their brainwashing by the neoconservatives: America is pure; her shining virtue causes evil men to attack her; they hate us because we are good and they are evil." FOR THE REST OF THE ARTICLE: http://www.informationclearinghouse.info/article20435.htm
Slip-Sliding Away By Charley Reese 05/08/08 "Lewrockwell" Despite all the blather about democracy, we did not invent it, do not support it and have, during the recent administration, become less democratic than we were before. We are and always have been too large a country for a true democracy. That's why the Founding Fathers created a republic. In a true democracy, the people would decide practically all the issues. In a republic, the people delegate that power to elected representatives who serve for a fixed term. A republic is a good form of government provided the people pay attention, fairly judge the performance of their elected officials and boot 'em out of office when they don't cut the mustard. It is a good form of government provided the best people, not the worst, offer themselves to serve in public office. Our government really does not support democracy, except rhetorically. When the Palestinians had a free and fair election and chose Hamas members to man their government, we refused to recognize the new government. Apparently, the Bush administration's definition of a free election is one that provides the results the president wants. Most of our "allies" are far from democratic. Egypt, Jordan, Saudi Arabia and the Gulf states are all authoritarian in one form or another. Ironically, Iran does have an elected government, but there again, it's one Bush doesn't like. Poor Hugo Chavez in Venezuela has been elected and re-elected, but still gets called a tyrant by Bush's step-and-fetch-its. China, which is a stern one-party dictatorship, seems to find our favor. I'd say that if you are a dictator seeking the favor of the United States, you must offer financial incentives, be a supporter of Israel or volunteer for lap-dog status. If you dare indicate that you are interested in the welfare of your own people and your own nation, you are likely to end up on the president's bathroom list. This basic rule of foreign policy doesn't seem to change regardless of which party occupies the White House. It also should be noted that people keep insisting that Iran give up weapons it doesn't have while remaining dead silent about the nuclear weapons Israel does have. If our government were truly interested in nuclear nonproliferation, it would support a nuclear-free zone in the Middle East that includes Israel and would not be making deals to increase the nuclear capability of India. So, the second rule of American foreign policy is that hypocrisy and expedience trump principles. Internally, we have become decisively less democratic. The present administration has a bad habit of questioning the patriotism and loyalty of people who disagree with it. It spies on everybody without any judicial restraint. It has riddled the government with partisans who are incompetent. It is the most secretive administration in American history. It lies like a drunken fisherman. It puts people in jail and holds them incommunicado without charges. It tortures people. It is contemptuous of the Constitution and especially of the principle of checks and balances. Congress is too cowardly to do it, but George W. Bush and Dick Cheney are a lot more likely to deserve impeachment than Bill Clinton was. Clinton lied about his private sexual peccadillos, while the Bush administration seems to lie about everything. Clinton lied to prevent a war with Hillary, while the Bush mob lied to get us into a war in Iraq. A big difference, I'd say. Thomas Jefferson did not believe that one generation had the right to burden another with debt. Our $9 trillion federal debt is a burden on generations too numerous to count. This is almost as serious a civic sin as lying our way into a war. We seem to be following the familiar path of history where republics slide into empire and eventually a fascist dictatorship. Too bad that freedom, like a good wife, is most appreciated in its absence. August 4, 2008
PLEASE POST THE FOLLOWING MESSAGE AT: CSPAN'S INTERNET FOLLIES AND GOLDTRADER'S GROUP IN A BRAND NEW THREAD! ------------------------------------------- (COPY AND PASTE THE MESSAGE BELOW) YOU ARE ALL BECOMING DIS-ORGANIZED! You had a nice thing going and were sharing amongst yourselves and new members, who may not have wanted to post, that were joining DAILY until we had well over 230 members Don't waste that... Obviously, we were saying something that people were interested in and now they don't know where to go.... GOLDTRADER'S COMMENTS BLOG IS WHERE THEY SHOULD GO. It's obvious to me that this group needs some leadership, because the minute some outsider steps in and causes commotion, the whole thing falls apart... I can't work under the POLICE STATE CONDITIONS that MARKET WATCH imposes on its posters... That's why I told them to FUCK OFF! Which is the same thing you need to start telling a lot of people in YOUR lives as well. CAVEAT: DO NOT DO THIS WITH YOUR EMPLOYERS! At least until you are POSITIVE you have another RELIABLE source of income! Burned bridges can haunt you for a lifetime... so BE SURE you want to burn them before you light the match! I have found great relief in ending relationships that were detrimental to MY well-being... You don't NEED ANYBODY to be who you are... But it's nice to SHARE who you are with others as long as it's a MUTUAL SHARING that is SUPPORTIVE of one another... You can find that at: GOLDTRADERCOMMENTS.BLOGSPOT.COM and GOLDTRADERRR.BLOGSPOT.COM COPY THE ADDRESSES....NOW!
BEFORE MARKETWATCH ADMINISTRATION DELETES IT!
Well, I can't imagine what Dan Norcini would have to say about today's gold market. Unfortunately, he is hunkered down under the hurricane blowing over Houston, TX right now. I'm sure he will do his best to post something soon, but after seeing what storms are like down there, I'm sure his family's safety comes first. Gold has almost ceased trading judging by the volumes since 10:00am pdst only 1.8K so far (15mins) From 9:00 to 10 volume was 8.03K From8:00 to 9 it was 26.3K And you can see that was almost ALL DOWN VOLUME! DOES THAT MAKE ANY SENSE TO YOU? NOT TO ME. But that's what Guv'mint thinks is a "free market"... THEY ARE "FREE" TO INTERFERE IN IT... to save their criminal asses! I have re-drawn all the TRENDLINES that needed adjustment to accomodate the trading action so far today... Sometimes I leave the old trendline in position so you can see how much it has been violated in either direction... But after a while, they need to be redrawn, because the TRENDCHANNELS have changed... After all, they are only TO KEEP YOU IN THE BALL PARK so you can see where the MAIN ACTION is taking place. more on the other markets shortly...
VERY IMPORTANT ARTICLE TO READ...GO TO CAPTAIN MAY'S WEBSITES AND START READING FOLKS...YOU WILL LEARN THE TRUTH!
THANKS TO CSPANJUNKIE FOR THE LINK!
Anthrax Attacks —Assassin Nation
by Captain Eric H. May
The Lone Star Iconoclast August 3, 2008
Capt. Eric H. May
Bush League Bioterror
After 9/11 and before the passage of the Patriot Act a month later, our great national terror was the anthrax attacks waged against the mainstream media and Congress. Democratic Senators Daschle and Leahy, both targeted, had been well positioned to oppose the Patriot Act on constitutional grounds, and perhaps lead their party to do the same.
The anthrax attacks changed all that, putting Bush and Cheney in total control.
As with so many things under the Bush administration, the political reality of what had happened was transparent, but the political reporting remained vague.
The writing was already on the wall for members of the power elite, and folks were starting to hide from their duty behind the Voltaire phrase that it was a dangerous thing to be right when your country was wrong.
FOR REST OF ARTICLE:
GO TO CAPTAIN MAY'S WEBSITES AT:
AND START READING!!!
Kerim said... GT, how would interest rate decision impact the direction of gold? Can you give few scenarios? Right now I have open positions almost at every 3 dollars starting from 927 :) August 5, 2008 3:59 AM GOLDTRADER said... kerimo...Is it kerim now or kerimo? (It's KERIM) I can't even guess anymore how the market WILL act! What gold SHOULD DO, is go up NO MATTER WHAT the FED does to interest rates...! If they LOWER interest rates that INCREASES INFLATION! If they RAISE interest rates, that STOPS THE ECONOMY! This is why screwing around with increasing the money supply to avoid NORMAL MARKET CORRECTIONS ALWAYS leads to these problems... It starts out slow, taking years (over 30, in this case) and at the end, like now, things move daily and then even hourly. Sinclair is saying this is the bottom for gold, and I agree, but after yesterday and last night, I am simply lost in an INSANE WORLD, and just hanging on to my FUNDAMENTAL UNDERSTANDING of where gold HAS TO GO EVENTUALLY, AND SOON. Hang in there, I'm in higher than you are at 931.50...ouch! I sure wish I had my money available to put in here, but I have to make extra sure to prevent margin calls... This seasonal pattern has killed me THREE YEARS IN A ROW... You think I'd learn, but I always think the world has to come to its senses and gold is going to take off, instead it flops massively and I get creamed! That's why I have been forced to TAKE IT WHILE I GOT IT! Which means being an in and out trader every day.. while holding a core position of CASH GOLD COINS for the long haul. August 5, 2008 4:37 AM
Haven't been able to post much here today as the markets are going crazy. I had to hedge my longs in DEC gold with OCT gold just because I've gone through this seasonal wipe out three times and it is not pleasant for those on margin... They drive gold down farther than would ever believe and then a pinch more just to rub your nose in it. Then, when you finally give up, and sell your longs, just to have enough to trade the rally... It goes now a bit more...OR WORSE...starts right back up and leaves you with your enormous loss and hesitant to jump back in... Even worse, you jump back in long, and it goes down for a last swipe at the ones with the most balls of all...takes their money too...AND THEN... only after it has cleaned everybody's clock.... IT ZOOMS UP FOR THE REST OF THE YEAR UNTIL JAN OR MARCH of the following year... Then rinse and repeat.... for the last FIVE YEARS! Only every year, I believe the Guv'mint CAN'T pull this shit off one more minute... BUT THEY DO! And so, this year, once again....I believe...THEY CAN'T DO THIS MUCH LONGER! and so it goes... Enjoy the BLOG CHARTS COMING UP! More to say later today if I don't collapse in the heat!
Been very busy trying to keep up with the markets and post Blog Charts for you, as they are worth more than words, if you know how to interpret what you see, and have a little common sense. As soon as the Dow opened, gold plunged because the FED CANNOT ALLOW GOLD TO BE STRONG today... Typical FOMC tactics...same with any speech by Bush or anyone who is a BIGGIE... They have to paint a picture that goes along with their SPIN... BUT THIS SHIT ONLY LASTS JUST SO LONG... and pretty soon (and even now in certain smart circles) the public TOTALLY REJECTS anything the GUV'MINT SAYS ABOUT ANYTHING... And then the financial revolt is on, the Dollar Plunges... AND GOLD TAKES OFF FOR HIGHER TERRITORY FOR GOOD! NEW BLOG CHARTS BEING POSTED CONTINUALLY TODAY! STAY TUNED!
Gold fell almost exactly 75% of the move up from 88910 to 89520, back down on the opening and then zoomed up to beyond 89520, hitting 89590, which also took out a slightly higher old top at 89570 before pulling back and possibly forming a down flag to consolidate in before it moves up higher... If it doesn't to that quickly, gold will sell off again and possibly retest 88910 or even go lower. NEW BLOG CHARTS POSTED
Gold gets bashed on the opening minute with 1.63K contracts down and the usual immediate bounce back up, then a fade from the high reached on profit taking, and now probably a retest of either the low just made or even the low before the open at 88910... Right now gold is searching for a direction with those who know good prices to buy in on, and the gold bashers having fun jumping on the already weak gold price... who knows who will win? I never would have thought there were so many people left who would sell off gold with all the paper money problems going on in the world... Nothing like betting the rest of your whole life and assets on a GAMBLE that you can get your paper profits converted into CASH GOLD when the collapse arrives....IT WILL BE VERY QUICK WHEN IT BEGINS!
Gold has been moving back up very slowly on very light volume prior to the day session open at 5:20am pdst. It has punched through several lower lines of the various trend channels especially the MAJOR UP TREND CHANNEL (BLACK LINE) which I have deleted until we establish a NEW BOTTOM for this move which will determine the lower line of the New Up Trend Channel. NEW BLOG CHARTS POSTED
GOOD MORNING GOLD BUGS! TODAY'S REPORTS: Retail chain index ISM services FOMC (THIS IS THE ONE THEY'RE ALL WAITING FOR) 1:15PM EASTERN The markets ought to be fairly calm today while everyone waits to see what the FED will do to interest rates (nothing!) Gold has sold off all afternoon and over night like letting blood slowly... SIMPLY INSANE! Oil is now down to the 118s Bonds 115s Dow is at 1138 Dollar jacked up all the way to .7401 (as if it's REALLY worth that!)
Monday, August 4, 2008
Crisis Looms as Corporations Seize Control of Commodities By Barbara L. Minton03/08/08 "NaturalNews" -- - The global food crisis won’t go away any time soon. Capitalism has the average consumer by the belly. Amid growing signs of famine and outrage, the entire chain of commodities and resources of the world are now being cornered by giant corporations. Farmland, water, fertilizer, seed, energy, and most of the basic necessities of life are falling under corporate control, providing increased wealth and power to the ruling elite while the rest of humanity struggles. FOR ENTIRE ARTICLE: http://www.naturalnews.com/023757.html
Friedman: Iran war may prompt $300 oil Mon, 04 Aug 2008 14:47:19 http://www.presstv.com/detail.aspx?id=65597§ionid=351020101 George Friedman American political analyst George Friedman says an attack on Iranian nuclear facilities would be 'cataclysmic to the global economy'. The chances of a US or Israeli attack on Iran are remote because the risks to the world economy far outweigh potential benefits of such action, Friedman told Barron's on Sunday. The US and Israel, both possessors of nuclear warheads, accuse Iran of pursuing a clandestine nuclear program. They have threatened to take military action against Iran if it does not halt uranium enrichment. The United States and Israel have likely engaged in 'psychological warfare' rather than war preparations, commented Friedman, who also heads the US private intelligence corporation Stratfor. He warned that a war against Iran would likely result in Tehran retaliating with attacks on oil tankers in the Strait of Hormuz, a strategic passage for oil transfer from the Persian Gulf states. Crude oil prices may subsequently rise to 'more than $300 a barrel', which will be 'cataclysmic to the global economy and stock markets' even over a short period, Friedman added. This follows a UN nuclear watchdog declaration that Iranian enrichment does not exceed 3 percent, which is consistent with electricity generation. Tehran is a signatory to the Non-Proliferation Treaty and argues that its enrichment activities are aimed at electricity generation and further peaceful applications of nuclear technology.
Goldmelter tells me he has gotten at least five messages from MW ADMIN about his posts... Details coming in... Post something on Cspan's Internet Follies to let everyone know that the MW HEAVIES are out to SILENCE anyone who supports GOLDTRADER OR HIS GROUP... Aren't POLICE STATES FUN?
Monday Aug. 4, 2008 06:32 EDT Additional key facts re: the anthrax investigation (Updated below - Update II - Update III - Update IV - Update V) It's perfectly possible that Bruce Ivins really is the anthrax attacker -- that he perpetrated the attacks and did so alone. Perhaps the FBI is in possession of mountains of conclusive evidence that, once revealed, will leave no doubt that Ivins is the guilty party. But no rational person could possibly assume that to be the case given the paltry amount of facts -- many of which contradict one another -- that are now known. Several points to note:(1) Two prominent journalism professors -- Jay Rosen of NYU and Dan Gillmor, director of the Knight Center for Digital Media Entrepreneurship at Arizona State University and a practicing journalist for 25 years -- have added their names to the list of people calling on ABC News and Brian Ross to reveal their sources for ABC's false bentonite story that was used to link the anthrax attacks to Iraq. Rosen and Gillmor both write that ABC and Ross should answer three questions which they jointly outline, and they both set forth the reasons, grounded in widely accepted principles of journalistic ethics, as to why ABC and Ross should do so.(2) So much of the public reporting about Ivins has been devoted to depicting him as a highly unstable psychotic who had been issuing extremely violent threats and who had a violent past. But that depiction has been based almost exclusively on the uncorroborated claims of Jean Carol Duley, a social worker (not a psychiatrist or psychologist) who, as recently as last year, was apparently still in college at Hood College in Frederick, Maryland. Duley's scrawled handwritten complaint against Ivins, seeking a Protective Order, has served as the basis for much of the reporting regarding Ivins' mental state, yet it is hardly the model of a competent or authoritative professional. Quite the opposite. Duley herself has a history that, at the very least, raises questions about her credibility. She has a rather lengthy involvement with the courts in Frederick, including two very recent convictions for driving under the influence -- one from 2007 and one from 2006 -- as well as a complaint filed against her for battery by her ex-husband. FOR THE REST OF THE ARTICLE: http://www.salon.com/opinion/greenwald/2008/08/04/anthrax/index.html
http://www.atimes.com Betrayed by the village idiot
By The Mogambo Guru
The low-IQ socialist scumbags in the House of Representatives in Washington, DC among other legislative horrors have raised the debt limit of the US by another US$800 billion, taking the limit to a staggering $10.6 trillion, so that they could continue to act like the mental defective lowlife collectivist scumbags that they truly, truly are, which is destroying our money and our country, which is why I hate them, and which explains why I intend to vote against every incumbent as often as I can, and urge everyone else to do so, too, (except for the people in Texas who elect Ron Paul), unless I can successfully get the American people stirred up into an unruly mob so that I can take over the country and give myself a nice, big salary, a generous retirement package, and the awesome, unlimited powers of an emperor!
In the meantime, Thomas Sowell had an interesting perspective on these Congressional commie losers, too, in that he says that the housing crisis is a direct result of these selfsame Congressional morons passing laws requiring banks to loan to poor people so that they could buy houses that they could not afford, and in areas where nobody in their right mind would lend a dime because people who live there default on loans a lot, which is exactly what happened. Now we know why nobody wanted to loan money to these "red-lined" areas!
Ergo, too many loans, as required by Congress under penalty of law, were made to too many people that couldn't pay them back, and didn't, which the lenders knew beforehand, but were forced to do it! Hahaha! Thanks, Mr Sowell! I never put that two and two together before!
Now that I think about it, it's the same thing that happened to healthcare; the cost has run to back-breaking levels because the government demanded that healthcare providers provide first-class services to anybody who asked for them, whether they could (or would) pay for them or not, and the providers just added it to the bill of those who paid for their healthcare! Hahaha!
I am ashamed to have laughed at such incompetence and government bungling that is destroying America and, putting a serious look on my face, I say that the lesson to be learned here is that we have been betrayed by Congress, again and again, as it screws up everything it touches, which is what government routinely does, which is why it is obvious that the constitution never meant for them to be doing this.
In fact, the nation was supposed to be basking in liberty and free enterprise, with minimal government interference, and the Founding Fathers obviously thought that there would be no need for the Congress to ever even meet! This is why they thought it was important to include Article 1, Section 4 in the Constitution, which requires that "The Congress shall assemble at least once in every year." Hahahaha! Meet at least one day a year! Hahahaha!
Instead we have, courtesy of Gary North of garynorth.com bringing it up, The Federal Register, which "is published every weekday, and it usually is 200 pages long. Each page has three columns of fine print. These are new regulations imposed by the Federal government on the American economy." Published every weekday! And while we are here, Mr North has an article titled "The Senate's 700-Page Housing Bailout Bill: No Discussion, No Opposition", with the subhead that wins this week's coveted Mogambo Brevity Is Wit Award (MBIWA); "It's going to pass. It will not work."
And the loathsome, ruinous, nation-destroying activities of Congress could not be possible without an unlimited supply of fiat currency, instead of the strictures of Article 1, Section 10 which requires that only gold and silver shall be money, a requirement discarded by the despicable, corrupt Supreme Court, a folly for which we are now paying with inflation in prices and will continue paying for the next decade.
Now you know why we are so screwed, and who is directly responsible, which means that the voters who elected these losers are also directly responsible, and as such are going to get exactly what they deserve.
And in the words of H L Mencken, "get it good and hard". There are, I am aware, pornographic films that successfully exploit this "get it good and hard" theme in a very entertaining way, but trust me, there is no similarity.
If only there were.
NEW BLOG CHARTS POSTED Gold is now in a MAJOR OVERSOLD CONDITION relative to the MAJOR UPTREND CHANNEL bottom line (black lines on chart) This does NOT mean that gold could not go lower... It could be manipulated down to any of the THREE bottom lines of the THREE DOWN FLAGS that remain untouched... The most important one, being the bottom line of the RED DOWN FLAG! Hell, gold shouldn't even be down here, given all the FACTS in the World Economy, and ours here in the U.S.! But that is what MANIPULATION is all about... MAKING THINGS SEEM WHAT THEY ARE NOT! And the Big Boys are getting the job done! (unfortunately for the average man!) These manipulations will only make the coming catastrophe....WORSE!
"The main reason people will feel compelled to lie about you or insult you in general is because they actively dislike you. The best way to make people actively dislike you is to publish your political opinions on the internet." http://voxday.blogspot.com/
NEW BLOG CHARTS POSTED Gold has made a gradual, but steady climb off the low at 903 to which it was unmercifully pounded today. Oil is back down the 120s after a weak rally back up from its momentary low around 119.65 earlier today. The Euro is slipping back and is now at 1.5541 The dollar has managed to hold in the .7365 area Dow is making a down flag after its run up to around 11320 Most of the markets have moved in directions NO ONE could HONESTLY say the could predict... A total CASINO today. So this afternoon we just wait for gold to slowly move back up and even more overnight in Asia... I'm still tired from the weekend, so I'm going to nap now and come back this afternoon and post more charts and what ever article are important to read... Buy some gold folks...these are prices we aren't going to see again for a long time...
After a quick review of the public threads on MW... it appears that everyone and their grandmother KNOWS that these markets are being severely MANIPULATED by the FED and other agencies of the Guv'mint! The dollar gets a mighty goose and OIL CRASHES! Thus the stock market is healed and you should buy some of that worthless paper! There is almost nothing else to say today, except that this won't last very much longer... because markets this manipulated are NEVER able to sustain themselves when the majority of investors no longer TRUST the market to operate RATIONALLY... So they take their money out of all traditional investments AND PUT IT INTO THE WORLD'S MOST STABLE SAFE HAVEN... GOLD!
After a nice run up all morning... The NY gold haters jump on gold with no mercy... and all the weak gold longs run for the hills, crying for their mamas. This dip will go back up as those traders who wait for dips like these move in and pick up the pieces left over from the slaughter... The shorts who just made a bunch of money have to lock it in by buying to offset their position, thus driving gold back up. Stay tuned...big money is available to those with balls enough to take it.
Gold has broken just below the uptrend channel (white lines) Oil is falling again to the 124s Euro is of its highs of the day and forming a down flag which resolves up just like gold Dow is down all day currently at 11216 Dollar is at .7345 sort of the low middle of its trading range but is towards the down side of trading in recent days Without PPT assistance, it will just keep falling.
Things are moving so fast today I can barely get a chart or a comment out before its all old news. Dollar is down from its highs Gold is doing a nice run back up after this morning's sell off Oil is flying up and down on various rumors and facts.. but at the moment is back up near its high for the morning. Euro is moving back up. Dow is taking it in the shorts again... Bonds, after leveling off in the 115-116 area took a dip this morning and then turned around and shot right back up to the 116s again...a very wild and basically un-tradeable market... unless you're standing in the pits...a complete roulette wheel.. that should ultimately crash driving long term interest rates through the roof.. Remember, interest rates are "the price of money"... When money is losing its value...people who lend it want MORE OF IT to compensate for the loss of its value! gold is doing a little normal pull back here and will reverse and continue even higher as it reaches up to hit the 75% retrace point at 91980
HSBC profit drops 29% as bad debt charges soar Write-downs total $3.9 billion; bank remains cautious on outlook By Simon Kennedy, MarketWatch Last update: 8:02 a.m. EDT Aug. 4, 2008 Comments: 23 LONDON (MarketWatch) -- HSBC Holdings on Monday reported a 29% drop in first-half net income as bad debt charges surged to over $10 billion, though the banking giant increased its payout after growing profits outside the United States. http://www.marketwatch.com/news/story/hsbc-profit-slides-29-bad/story.aspx?guid=%7BCD21FAB1%2DBEB8%2D4DDE%2DA3EF%2DA0E64F91AAF6%7D
Worst inflation in 27 years trumps tax rebates Real spending falls 0.2% in June as incomes rise 0.1% By Rex Nutting, MarketWatch Last update: 9:02 a.m. EDT Aug. 4, 2008 http://www.marketwatch.com/news/story/worst-inflation-27-years-trumps/story.aspx?guid=%7B5A153311%2D54CC%2D4AEA%2DA26D%2D09F2B841A4AE%7D#comments
Bush wins Gold in inflation race with Hank and Ben tieing for silver. The next race is currency devaluation, but we all know its in the bag ooops I'm in the discount window! Why are the medals made of gold and silver? They must be valuable !
NEW BLOG CHARTS POSTED Gold moved back up strongly after bottoming right before the opening of the day session in NY. Volume was strong and gold exceeded the 75% retrace point at 91380 (see charts) and is now pulling back to around 90980 (75%) The new short term up channel (white lines), because it is short term...doesn't HAVE to resolve down...IF it's the first up channel after a bottom... When it's a down flag at the top of a run up, it DOES resolve up to higher prices It's a consolidation pattern then. At a bottom it's just a turn around pattern as prices move back up. caveat: UNLESS IT ISN'T! Still haven't had time to check the other markets or morning reports yet... Too busy posting for you folks... But after a while, you just know what is going on by watching gold... back after my review of things...
POSTED A REALLY REALLY BIG PICTURE FOR OLDBILL The SUPER MAJOR UPTREND CHANNEL (BLACK LINES) has a MAJOR DOWN FLAG (RED LINES) within it. This down flag RESOLVES UP! Support is in the 900 area...but gold should NOT be going down to $800! Even though, historically August is where gold bottoms out just before it ZOOMS UP for the rest of the year... DON'T COUNT ON SEASONAL PATTERNS TO REPLAY ANYMORE! The ECONOMIC SYSTEM IS BROKEN BEYOND REPAIR AND WON'T BE CONSIDERED "FIXED UNTIL TOTAL BANKRUPTCY OF IT IS ADMITTED AND LOSSES ARE TAKEN...HUGE LOSSES! Which ALL will be pawned off on regular tax paying citizens of the World! The "biggies" won't be hurt that bad...that's why they're the biggies! That is, only if they have their assets in REAL MONEY....GOLD!
GOOD MORNING GOLD BUGS! Gold comes into NY and gets slammed! We're used to that right? Gold has taken out Friday's low and is now down to 90690... Buy all you can down here...it's called "cost averaging" (buying more each time gold goes lower) After gold goes back up, your "average" price will be good. It's just not possible to"pick the bottom" of anything consistently. more after I review the markests...
Sunday, August 3, 2008
You folks are getting your messages spread out all over the place... You're posting on Goldtrader's Group, Cspan's Internet Follies, and on various old threads on Goldtrader's Group... JUST LET IT DIE! Then we can see what happens there from now on. Maybe MWAdmin will delete it... So, COPY AND PASTE from there what you think is important to you... I copy and paste all kinds of things and then save them in DRAFT emails in my INTERNET EXPLORER. (As long as you don't have a "send to" address on them, they can't go anywhere!) You can also save a lot in a document in MS Works or any wordprocessing program. You all can divide up the project and each of you save one or two threads (you have to open each thread and then copy and paste the whole thread...because LINKS WILL NOT BE ACTIVE if they are not opened for the copy procedure after the thread has been deleted!) Then you can all share, or re-post the threads on Cspan's Internet Follies (although that will drive MWAdmin up the wall, and they will probably delete everything!) But if you all think what we have discussed for the last FOUR MONTHS is valuable for history and for the public to have access to, as they become more aware of our economic situtation and begin looking for information, then you probably should copy the Group Post's for posterity.... ONCE IT'S GONE....IT'S GONE! I don't have the time to do it, with all that I'm doing right now. Plus, I already have what I need to save. Think about it... BUT, PLEASE STOP POSTING AT GOLDTRADER'S GROUP. It is my baby, and I say let her go without suffering!
JOSEPHBLOE...Yeah locke figured that one out pretty quick...but I think he had some doubts there for awhile as I reduced my IQ in regards to spelling, grammar and punctuation. I just tried to equal the average poster on MarketWatch who doesn't proofread what he/she posts, or use Google to spell check words they aren't sure about.. CSPANSSECRETARY...Yes folks, I posed as a 23 year old "I'm very pretty" (in the bio) girl and created CSPAN'S INTERNET FOLLIES for CSPAN...as she indicated she didn't know how to do it, and we were pressed for time to get another Group created so you could all go there and ABANDON GT's Group, leave it as a GHOST TOWN and see what kind of creepy crawly things would infiltrate it and take up habitation there. The Avatar I used for cspanssecretary is posted above. But later I screwed myself on that one by accidentally clicking on the REPORT Picture link... (right under the Group's Name by the BLUE TRIANGLE with the exclamation point inside of it)... it also let's you REPORT a Description that offends your tender senses... As soon as I clicked on it...MWADMIN had my Avatar deleted within an hour...so I replied to them, but can now only find half of the replies, which I will post once I find them. (I copied everything from GT's Group regarding the posts by the "nasties" and my emails between myself, my alter egos and MWADMIN so we could make a case against them if we want to. So, the main point is that CSPANJUNKIE didn't do anything wrong, except that she now tells me she is getting "hate mail" from MWADMIN about posting any of my requested articles... WELCOME TO THE UNITED POLICE STATES OF AMURIKA!