This blog is no longer active as of October 31, 2011
This is totally unbelievable: (H/T to HotAir.com)
Speaking of money and taxes, here is Congressman Ron Paul talking about Taxes, Money and of course, the Federal Reserve: (H/T Lew Rockwell’s Blog)
Needless to say, the next couple of years are going to be very interesting to watch. 😯
The main subject: The Federal Reserve and it’s printing of money.
It is a great video to watch: (Via the Daily Paul)
(Via The American Conservative)
Transcript:
Lovers necessarily keep or share secrets. Being in a healthy relationship means achieving a certain level of intimacy, where shared knowledge of each others’ weaknesses and insecurities is protected by a bond of mutual trust. Sometimes lovers might do devilish things that outsiders wouldn’t understand, or shouldn’t be privy to, and this is fine. But by and large, what they do is simply no one else’s business.
But imagine that the man in the relationship kept it a secret that he had other women on the side, kids, a criminal record, venereal disease, and basically betrayed his lover in every way imaginable, unbeknownst to her?
Now imagine a third party felt it was their moral duty to reveal it?
No one questions that governments must maintain a certain level of secrecy, including WikiLeaks founder Julian Assange, who told Time that “Secrecy is important for many things … [but it] shouldn’t be used to cover up abuses.” The entire premise of Assange’s whistleblower organization is this: To what degree is government secrecy justified? And when particular secrets could be damaging to the other partner in the United States government’s relationship — the American people — should these secrets be revealed in the name of protecting the public?
How often does our government use “national security” simply as an excuse to cover up questionable dealings? Reports Time: “in the past few years, governments have designated so much information secret that you wonder whether they intend the time of day to be classified. The number of new secrets designated as such by the U.S. government has risen 75% … . At the same time, the number of documents and other communications created using those secrets has skyrocketed nearly 10 times…”
To say that government must keep secrets is not to say that all government secrets must be kept.
As admitted even by Pentagon officials and Defense Secretary Robert Gates, none of WikiLeaks’ revelations do anything to compromise national security or endanger American lives — but they have wreaked havoc on political life in Washington, D.C. Americans are not supposed to know, for example, that their government bullied and threatened individuals and other governments that might have undermined the Copenhagen climate change summit in 2009. The federal government attempting to squelch anyone who might undermine global-warming dogma? Do WikiLeaks’ conservative critics believe revealing this is a “national security” risk?
Americans are not supposed to know, apparently, that behind the scenes Saudi Arabia has been encouraging the U.S. to take military action against Iran. But if we end up going to war with Iran shouldn’t it be in America’s national interest, and not simply as a subcontractor for another country? Asks Fox News’ Judith Miller: “Why should Americans not know that Arab states, often at the top level, have been urging Washington to take military or other drastic action against Iran, while they publicly oppose such action?”
And when did conservatives become so protective of Hillary Clinton? What happened to the days of the “Stop Hillary Express,” when right-wing talk radio portrayed the former first lady as Satan and theorized about all the devious ways in which, if in power, she might conspire to bring down the country? When WikiLeaks revealed that Secretary of State Clinton tried to obtain DNA, fingerprints, credit-card numbers, and other private information belonging to United Nations officials, we learned that Clinton’s style was every bit as mafia-esque as her conservative critics once warned. Yet conservatives now attack WikiLeaks for revealing what they once feared. It should also be remembered that the same conservatives now calling for Assange’s head either ignored or were sympathetic to Lewis “Scooter” Libby’s outing of CIA operative Valerie Plame allegedly at the Bush administration’s behest — a revelation arguably far riskier to our national security than anything ever released by WikiLeaks.
But the worst hypocrisy throughout this controversy has been in conservatives reflexively defending the government and attacking WikiLeaks. Since when have conservatives believed that Washington should be able to shroud any action it likes in secrecy and that revealing government’s nefarious deeds is tantamount to treason? Isn’t it government officials who might secretly work for corporate, ideological or transnational interests — and against the national interest — who are betraying their country?
Interestingly, Wikileaks’ founder espouses the traditionally conservative, Jeffersonian view that America’s constitutional structure limits and lessens government corruption. Reported Time: “Assange appears to believe that the U.S. has not become ‘a much-worse-behaved superpower’ because its federalism, ‘this strength of the states,’ has been a drag on the combination of the burgeoning power of the central government and a presidency that can expand its influence only by way of foreign affairs.”
Decentralizing government power, limiting it, and challenging it was the Founders’ intent and these have always been core conservative principles. Conservatives should prefer an explosion of whistleblower groups like WikiLeaks to a federal government powerful enough to take them down. Government officials who now attack WikLleaks don’t fear national endangerment, they fear personal embarrassment. And while scores of conservatives have long promised to undermine or challenge the current monstrosity in Washington, D.C., it is now an organization not recognizably conservative that best undermines the political establishment and challenges its very foundations.
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The “Southern Avenger” Jack Hunter is a conservative commentator on WTMA 1250 AM talk radio and columnist for the Charleston City Paper in South Carolina.
Dan does have a point here….:
In the space of 24 hours, Rep. Ron Paul (R., Texas) has voted for tax hikes, against censure for Charlie Rangel, and defended Julian Assange.
via Ron Paul’s Diem Mirabilis – By Daniel Foster – The Corner – National Review Online.
Plus, there is this here.
I mean, I know he is old and all. But, why the inconsistency?
Just wondering. I like him and all. I do not agree with everything he believes in, but I do admire him on fiscal issues.
Any ideas?
Update: Thank you to voters at Reddit! You all are amazing… 😀
Here’s my stats screen as of a few hours ago:
Thanks so much you all. I will try to continue to post stuff like this, that everyone over at Reddit can enjoy. 🙂
I figured someone in the Conservative media would say this sooner or later. I thought about it, but I really do not like the idea myself.
Jeff Kuhner at the Washington Times writes:
Julian Assange poses a clear and present danger to American national security. The WikiLeaks founder is more than a reckless provocateur. He is aiding and abetting terrorists in their war against America. The administration must take care of the problem – effectively and permanently.
The recent WikiLeaks document dump is the latest example of Mr. Assange’s dangerous behavior. His release of more than 250,000 U.S. diplomatic cables, many of them containing classified information, is a major blow to our foreign policy. The essence of diplomacy – especially that of a great power – is the ability to conduct negotiations and hold talks in secret. Foreign leaders will not be willing to engage in sensitive discussions with American emissaries if their words are going to be splashed across the front pages of the world’s newspapers. Officials in autocratic and Islamist states often risk their lives to cooperate with Washington, usually by providing vital information or advice. They now face a further disincentive to help us: The U.S. government can no longer guarantee the privacy and secrecy of their discussions.
American diplomacy has been crippled. So has our ability to conduct the war on terrorism. For example, the cables cache reveals that the United States is working closely with Yemen’s dictator, Ali Abdullah Saleh, in launching drone strikes against local al Qaeda bases. Al Qaeda has spread to Yemen. Its insurgency is growing. Yemen risks becoming what Afghanistan was before Sept. 11, 2001: a vast sanctuary for jihadists. Mr. Saleh insists that Yemeni public opinion – insular, xenophobic and increasingly Islamic – will not support the U.S. military presence on domestic soil. Hence, he says the pretense must be maintained that Yemen is firing the missiles, not America. This pretense has been shattered – and with it, perhaps, a key ally in the struggle against al Qaeda. Mr. Assange is helping chase the American infidel out of Yemen’s desolate deserts.
[………]
The United States is paying a severe price for Mr. Obama’s negligence. This is the greatest diplomatic crisis since the late 1940s, when communist agents in the U.S. government provided atomic secrets to the Soviet Union. The world is witnessing the absurd, almost surreal spectacle of the American superpower standing helpless in the face of a lone hacker. Her diplomatic secrets are no longer safe; her allies and friends are being betrayed; and her cyber-enemies are free to roam with impunity. America is no longer feared or respected.
Attorney General Eric H. Holder Jr. vows that he is looking into possible criminal charges against Mr. Assange. It is too late for tough talk. At this point, we are beyond indictments and courts. The damage has been done; people have died – and will die because of the actions of this puerile, self-absorbed narcissist. News reports say the WikiLeaks founder is hiding out in England. If that’s true, we should treat Mr. Assange the same way as other high-value terrorist targets: Kill him
Okay, here is the question that I feel the need to ask. Are we going to kill someone every time some whistle blower decides to speak out and expose some corruption in Government? Because if that is where we are headed, that is a slippery slope we can never recover from. Like anyone else, I am for open Government, I am also for seeing elected officials held accountable. However, if the United States Government and more importantly the United States Military is being put at risk, then by all means, arrest this guy and put him away.
I have no idea what Julian Assange‘s motivation is; whether it is conspiracy theory, politics or if he is just a pompous ass. But the idea of KILLING someone, just because decide to release some confidential information is not something, as a Conservative; who believes in rule of law and not Governmental treachery, that I can support. Because once you unleash that monster onto the American and World Wide Community, it cannot be stopped.
I would think that Jeff Kuhner would be a bit smarter than that. However, when you are working for a paper that basically was a cheerleader for the Bush Administration during the lead up to and during the Iraqi Invasion, one can expect only so much.
Others: Reporters Sans Frontières, Hullabaloo, Harry’s Place, Guardian, New York Times, News: News blog and The New Republic
Last week we had typical pre-holiday light volume trading going into US Thanksgiving. The previous week I warned every one to trade with extreme caution because of the light volume and the fact that the market is on the verge of a sizable drop for both stocks and commodities. Any price action could not be taken seriously because of the light volume. We will not know until later this coming week what the big money wants to do… Buy or Sell, also what the manipulators will do… Seems like there are a lot of wild cards out there with Europe issues and both unemployment and payroll numbers out on Friday morning.
Below are a few charts showing my intermediate term outlook for gold and silver.
Gold & Silver Futures – Daily Chart
You can see both metal are showing a possible reversal head and shoulders pattern. While they have yet to confirm and close below the neck line we must be aware of this pattern and the risk/potential it provides us with. Both metals are still in an uptrend but showing signs of weakness.
US Dollar Index – Weekly Chart
This chart is not really that helpful for trading stocks, commodities or options right now but I wanted to post it because it allows me to show you how I analyze the market and my trades.
As you can see, the past 3 weeks have been in a strong uptrend reaching the first resistance level. The point of this chart is to show you that if you step out to the next longer time frame you can get a solid feeling of where an investment will find major support and resistance levels. Any investment not matter if it’s a stock, commodity or currency, if the price is trading in the middle of a large range like this chart you should not be taking large positions because it almost becomes a 50/50 bet on the market which is not a good winning strategy unless you are very experienced at managing your trades and money.
If you are going to trade then you want to focus on the underlying trend and you do that by looking at the next larger time frame. For example: if you focus on trading the daily chart, then you must step back each week and review the weekly chart to be sure you are trading with the underlying trend which is up for the dollar right now.
Weekend Trading Ideas:
Tuesday morning we saw the SP500 gap lower and continue to sell off. Traders started panicking out of their long positions and we could see it using the intraday market internals charts, which I cover each morning in the pre-market trading videos. Me being a contrarian (buying into market fear, selling into market strength) I used that high level of fear in the market along with the expected light volume holiday week ahead as an excuse to book profits near the lows on SP500 using the SDS bear fund allowing us to profit from the falling market. I feel we are going to have some crazy moves on the markets going into year end and it should be a lot of fun if done correctly.
Trading in general is a very difficult task especially if you are doing it for a living and planning on using your monthly income to pay bills, salaries etc… We all know the stress which comes with trading and if do not have a solid trading strategy, rules and cannot properly manage yourself (emotions) then you are most likely running into problems like over-trading, getting shaken out of trades easily, and taking bigger risks than your account can handle. Each of these cause more traders to blow up their accounts and big up on trading.
I am giving away my book on how you can control your trades, money and emotions. This short and to the point guide is full of my trading techniques, tips and thoughts which will help you get a handle of your emotions turning the market noise into music.
—
This comes via GoldSilver.com:
Quote:
Mike Maloney was recently in Europe working on his next top-secret project. While passing through France, Mike got the chance to visit with the one and only Max Keiser.
Intelligent, witty, and never bashful, Max Keiser is pure financial entertainment. With over 25 years of experience with markets and finance, Max often draws from first hand experiences when providing his listeners explicit insights on how the financial markets truly operate.
He has been described as a film producer, a journalist, and as JP Morgan and friends are now finding out, an activist investor with powerful ideas on how the masses can help themselves in taking their financial power back.
The Video:
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A new article by a new author:
Thursday was another example of Mr. Market playing games with traders and investors as equities and precious metals took part in a strong rally. Some market prognosticators noted short-term oversold conditions across the board while others discussed the potential for a strong reversal that could potentially take out recent highs. In addition to the regular banter, to the average retail investor the market sure looks rigged when the government decides to sell a large stake in a massive IPO offering and a shaky tape suddenly becomes stronger than garlic.
There is a lot going on in the news as of late, and the expiration of the Bush tax cuts looms large on the minds of many, particularly small business owners. So the real question becomes, what should traders be watching or paying attention to before the light volume Thanksgiving week? The answer is simple, watch the tape! The market will provide plenty of clues and it will eventually tip its hand, experienced traders will wait for this process to unfold.
At this point in time, it is a bit early to begin making predictions as to which direction the equities market will go. What we do know is that the market was oversold in the short-term, so this could be a pause before prices turn lower. In contrast, this could be the beginning of another bullish move breaking recent highs on its way to a “Santa Claus” rally. My stance is neutral at this point in time; S&P 1200 should offer significant overhead resistance while S&P 1170 / 50 period moving average is near term support. The chart listed below illustrates these key levels:
S&P 500
If price were to break out above S&P 1200 on strong volume, it is likely that we will see a retest of the recent highs around the 1220 area. Consequently, if price tests the S&P 1170 area and fails price will likely be magnetized to the 1140-1150 area. We will have our answers in due time, but until a definite direction is known, patience is warranted.
Treasuries
As discussed in my previous article, the ProShares Ultra Short 20+ year treasury ETF (TBT) bounced off of the 36 level and put on a short lived rally only to settle toward the bottom 1/3 of its recent price range. After the recent breakout, it would be constructive to see TBT consolidate before confirming a direction. The chart below shows the key levels on TBT:
U.S. Dollar
Instead of illustrating a gold chart, let us focus our attention on the U.S. Dollar Index. The chart below shows the dollar has pulled back and is now testing the 50 period moving average. I am anticipating a retest of the recent breakout over double tops and this key level is illustrated below. If support holds firm, higher prices for the U.S. Dollar in the near term will be likely.
The Contrarian Trade
Thursday’s price action in the S&P 500 offers a great example of the power of options, which are traditionally overlooked by most equity traders or investors. While I did not personally enter this trade, I did enter a short position with tight stops around the S&P 1197 level using futures contracts for a short term trade. I was looking for a short term decline which we subsequently received in the aftermarket and my limit orders were triggered.
The option trade that I discussed with one of my trading buddies and mentor, involved getting short Apple (AAPL) when its price was around $309.50/share. While I did not place this trade as I felt I had plenty of short side exposure via my e-mini futures position, the trade would have worked quite well. So the trade listed below is not a recommendation, but an illustration of how options can be a contrarian traders’ best friend.
AAPL has been trading in the $300 – $320 per share range for several weeks having broken out above $320 only to be smacked down into the range. During the recent selloff, AAPL crossed down through the $300 level only to encounter strong buying that pushed it above the key $300 area by the close of trade that day. Thursday’s rally had AAPL trading above $309.50/share and the 20 period moving average was right around the 310 level as can be seen from the chart below.
The 20 period moving average provides an adept option trader with a key level which he/she can define the risk of a short position using options. Through the utilization of a contingent stop based on AAPL’s stock price, a trader using this setup could place a stop around the $311.25 area to define their ultimate risk. As of Thursday, the AAPL weekly options that expire November 26 began trading.
The trade listed below is a put debit spread:
Buy 1 AAPL Nov. 26 310 Weekly Put – $5.00 / contract based on Thursday’s close
Sell 1 AAPL Nov. 26 300 Weekly Put – $1.47 / contract based on Thursday’s close
AAPL stock closed around $308.43 / Share
The profitability chart reflecting this trade is below:
The maximum risk this trade has per leg was around $350, however through the use of the contingent stop around $311.25, the risk per leg is around $150. The maximum gain would be $650 per leg if at expiration in one week AAPL was trading below $300/share. In the first hour of trading, AAPL sold off below $306 per share. If an option trader had more than one contract on, he/she could take partial profits and place a stop at the entry price insuring a winning trade and allowing room for the trade to run.
Obviously the trader may want to adjust his/her stop based on market conditions, but this is simply an example of what can be accomplished with options. Once the trader understands how to determine the risk that an option trade assumes, he/she can build trade constructions to fit nearly any trading style or strategy. For a contrarian trader, options offer an unbelievable opportunity to mitigate risk and maximize profits. Learning how to trade options does take time and effort, but the potential returns options offer when they are used appropriately are unparalleled.
Get more great articles like this, by going here.
Disclosure: Clicking on this link and signing up for the service results in a small compensation to yours truly at not additional cost to the consumer
This is what happens when a train wreck, reality television star gets involved in politics and endorses political candidates; they lose:
JUNEAU, Alaska (AP) – Sen. Lisa Murkowski has become the first Senate candidate in more than 50 years to win a write-in campaign.
Murkowski emerged victorious after a painstaking, two-week count of write-in ballots showed she has overtaken over tea party rival Joe Miller.
Her victory became clear when Alaska election officials confirmed they had only about 700 votes left to count, putting Murkowski in safe territory to win re-election.
Murkowski has a lead of about 10,000 votes, a total that includes 8,153 ballots in which Miller observers challenged over things like misspellings, extra words or legibility issues.
Murkowski is flying back to Alaska to address supporters, telling them that the campaign “made history.”
Miller surprised Murkowski in the GOP primary, prompting the incumbent to run as a write-in.
I felt good about Joe Miller, until Sarah Palin got involved, then I knew it would never happen, he would not get elected. This is what happens when Palin gets involved, people lose and lose badly. It is what happened when O’Donnell ran and it is now happening with Joe Miller. The truth is, Sarah Palin has zero business endorsing anyone at all. I just wonder, will her kids come to my blog and start swearing at me, like they did over on facebook, when someone started telling the truth about Sarah Palin and her idiotic show? It is to wonder.
The truth is Sarah Palin has never succeeded at anything; including being Governor of Alaska. This little failure here, is just more living proof of that. The Republican party should take notice of that and let this little incident here, be one of many pieces of evidence that Sarah Palin is not fit to the President of the PTA in Wasilla, Alaska; much less the President of the United States. If Sarah Palin wants to do anything to impress me, or anyone else in this movement that we call the Tea Party, she needs to pack up her little tampon box of silly ideas and go back to Alaska and try being a Mother to her children and a Wife to her Husband. That is if she even has any of that left at all.
We need leadership in Washington D.C. — not some shrieking harpy psycho, who is all for having a Christian version of Sharia law in this Country. Count me as one of the many American Paleo-Conservatives, who have taken a great pleasure in seeing one of psycho Sarah Palin’s endorsements doing a very righteous face plant. It could not have happened to better person and may this be the first of many more for this idiotic woman.
This also explains why I did not vote for him and that moronic bimbo Sarah Palin:
Sen. John McCain (R-Ariz.), the ranking member of the Senate Armed Services Committee, expressed concern Monday that some new Republican legislators would be defined by their “protectionism and isolationism,” two views that the Vietnam war veteran feared would result in a butting of heads within the party on Afghanistan and defense spending.
“I think there are going to be some tensions within our party,” McCain said during a conference put on by Foreign Policy Initiative, a DC-based think tank. “I worry a lot about the rise of protectionism and isolationism in the Republican Party.”
A prime example, McCain continued, was Rand Paul, Kentucky’s next U.S. Senator.
“I admire his victory, but … already he has talked about withdrawals [and] cuts in defense,” McCain said.
Indeed, Paul appears to have taken after the more libertarian side of foreign policy issues, much like his father, Texas Rep. Rand Paul (R).
via John McCain Attacks Rand Paul’s ‘Isolationism’ In Willingness To Cut Defense Spending.
They mean Ron Paul. I’ve cracked up watching the media calling Rand, Ron and Ron, Rand. It is quite funny. To review! Ron Paul is from Texas, and Rand Paul is from Kentucky.
The serious point to be made here is that John McCain is trying to follow the foreign policy path that was started by President George W. Bush. That foreign policy, which was Wilsonian in nature, proved to be disastrous for the Republican Party and caused them to lose the 2008 election. The Republican Party, under chairman Steele, has been trying to remake the image of the Republican Party being the party of warmongers. As a Conservative, I believe that protecting and defending the Republic of the United States of America is paramount. However, I believe that forcing our style of Democracy on nations that do not necessarily want it; at the cost of our treasure, that being our Military; is a tragic mistake. This is what happened in Iraq and that will always be a black mark on our record throughout the World.
Someone needs to get the memo to John McCain that the Republican Party has moved on from the Bush era and that the Conservative grassroots has pretty moved on from the Bush era.
Let me also say this; I will avoid taking a swipe at Israel, as I believe that they do have right to exist. However, We Paleo-Conservatives understand why McCain feels like he does. McCain comes from that old Wilsonian school of thought — Protect Israel at any cost. We can see what that idiotic stance has gotten us in the past eight years, can we not? Again, someone needs to get that Memo to McCain; that the Conservative grassroots, being challenged by the Tea Party movement, has moved on from that stance and has totally rethought that whole idea. The idea of going to war now, to appease that Country is not popular any longer, among anyone — and that my friends, is a good thing.
Others: Hit & Run, Raw Story, Outside the Beltway, DoD Buzz and Talk Radio News Service
I believe every American should watch this video….at least once.
I believe it is the duty of all liberty and freedom loving Americans to join this wonderful organization, if you are able.
So, Please…:
Because some rights are just not negotiable.
Please note: This was an totally unsolicited post. The NRA does not have a damned clue, who I even am. I do not belong to the organization….yet. I do not make a dime off of your joining this wonderful and American organization. But I highly encourage you to join, because America needs people, like you I to stand up for what is rightly ours.
The financial markets continue to climb the wall of worry on the back of more Fed Quantitative Easing. Those trying to pick a top in this choppy bull market may prove to be correct for a couple hours but over time the shorts continue to get clobbered.
Quantitative easing was enough to turn gold back up and gave oil just enough of a nudge to breakout of its cup and handle pattern explained later.
The past few weeks the number of emails I receive on a daily basis about what individuals should do about short positions they took on their own has growing quickly. Usually when my inbox starts to fill up with traders holding heavy losses trying to pick a top I know something big is about to happen and its not going to be in the favor of the herd (everyone shorting). In the past couple week there have been some great entry points for the broad market whether its to buy the SP500, Dow, NASDAQ or Russell 2K. I focus on trading with the trend and entering on extreme sentiment readings as shown in the chart below.
Below are my main market sentiment indicators for helping to time short term tops and bottoms. That being said I don’t pick short term tops in hopes to profit on the down side. Rather I wait for a extreme sentiment bottom to be put in place, then enter long with the up trend (Buy Low).
Once there is a 1-2% surge in price and sentiment indicators are showing a short term top I like to pull a little money off the table to lock in some profits while still holding a core position (Sell High). This is exactly what I/subscribers have done over the last couple weeks. This is a simple yet highly effective strategy and works just as well in a down trend except I focus on shorting extreme sentiment bounces. Subscribers know what these indicators are as I cover them each week in my daily pre-market trading videos as we prepare for the day ahead. —- Read The Rest Here
With the election over and congress divided, it may be difficult for the president to get much done. None of this will take affect until the near year but traders are asking the big question… Will the government work together as a team or will it be a stalemate?
Today’s whipsaw action after the FOMC statement shook things up as it always does. We saw gold, silver, the dollar, SP500 and bond prices go haywire. It took about 30 minutes for the market to digest this news in that time a lot of people lost money because of the wide price swings. Trading around news, I find, is a net losing trade over the long run and I advise never to do it. Rather wait for a trend to form and trade any low risk setups that come your way.
I truly believe that the market has already priced in most news and events which unfold, and that news tends to agree with the overall trend of the market. Of course there will be short term blips on the charts from the news, but they tend to be minor setbacks in the underlying market trend. That being said, the trend is our friend, and while so many are trying to pick a top in the equities market it makes me cringe because they are fighting the trend and the Fed.
———————-
In my recent forecast updates for my subscribers and also in my free articles online, I have expounded on the virtues of Elliott Wave Theory, which I use as my linchpin for my short and long term views. To wit, back in August 2009 I made it clear that we would enter a five year period of a massive move up in both Gold and Gold Stocks. Gold was $900 an ounce at the time, and is now at $1360 an ounce. I made that forecast based on human behavioral patterns that go back centuries. Crowds love to all act like a swarm of bees flying together. Everyone hates stocks or sectors when they are down, and the crowd loves them when they are up or going up. Investors like to chase stocks and sectors when they are up high and running near parabolic, but they don’t like to buy large dips or consolidations ahead of moves. Once you learn that Elliott Wave patterns and a few other indicators sprinkled in can give you a heads up on when the crowd is about to jump in, you can basically front run the crowds.
I digress and go back to the Gold Bull Market. The reason I knew in August of 2009 that from $900 Gold we would enter a five year “massive” Bull Run is due to crowd patterns. To refresh, I see Gold as being in a Fibonacci 13 year cycle up that started in 2001. The first five years not too many investors participate in the Bull Run because the prior 20 did nothing. By the time everyone realized in 2006 that Gold mutual funds had compounded 30% a year for five years, it was too late to jump in. Of course, that is when everyone started buying Gold mutual funds and stocks. The problem is the first move was over, and we had 3 Fibonacci years of chop with no net gains. The crowd gives up around the summer of 2009, and that is when I forecasted a huge five year move to come. So far Gold is up over 50% in 13 months and Gold Stocks are up well north of that. The junior stocks started expanding in volume and price months ago, and that should have been yet another wake up call to investors.
Get ALL of the gold, silver, oil and ETF trading advice here!
(H/T The Daily Paul)
This is from October 9, 2010.
Just a couple bones of contention with the above:
All of the rest, I pretty much agree with, especially when it comes to fiscal policy and the federal reserve.
(Via HotAir)
He’s also wrong. Gaza is NOT starving. He’s also been known to spin for Iran too.
AllahPundit Says:
It’s one thing to say our Iran policy is making things worse, it’s quite another to pretend that regional war, possibly with a nuclear component, in the Middle East wouldn’t much matter to America if we just hurried up and got our troops out. I can’t tell if this guy doesn’t realize or simply doesn’t care that opening up Gaza’s port will mean more arms in the hands of more fanatics, which means more of a chance of war and thus a more precarious position for U.S. interests. But let this serve as yet another reminder that, for all the grief we give The One on foreign policy, we can do much, much worse. And not just on the left either.
Amen to that. For all the grief that I give President Obama, I also know that it could be and would be much worse, if Ron Paul was the President. Also, about “AllahPundit,” before anyone says a damned thing in the comments section; was less than 10 miles from the World Trade Center, when it was hit in 2001. Hence his desire to see something done about the terrorists.
Ron Paul’s problem is, that he is shilling for the terrorists who want to destroy this Country and he is too stupid to know it. Either that or he knows it and really does not care. Gaza starving; what idiotic bullcrap! 🙄 Only thing starving is Ron Paul’s brain.
Just letting the Ron Paul-Bots know….. Your comments on this posting; good or bad, will not be getting past my moderation.
I own this blog and I am entitled to my opinions about Ron Paul — It is wonderful thing about that little thing called the First Amendment. Don’t like it? Go elsewhere. Period. End of story.
That is one of the very strange things about the Ron Paul crowd; they are all for liberty and freedom, that is until someone dares to criticize their “oh so scared leader!” That is when the “Long Knives” come out and it is off to the camps and the ovens for those who dissent against the fuhrer!
Funny how that works, isn’t it? 🙄
He has removed it:
Video of the Loon:
VIA TPMDC:
Near the end of the third day of this year’s Southern Republican Leadership Conference, it was time for Rep. Ron Paul (R-TX) to take the stage. Paul, fresh off his victory in the CPAC straw poll, gave a characteristically fired-up speech that took on the views of the Republican party establishment.
“The question has been raised about whether or not our president is a socialist,” Paul said. “I am sure there are some people here who believe it. But in the technical sense, in the economic definition of a what a socialist is, no, he’s not a socialist.”
“He’s a corporatist,” Paul continued. “And unfortunately we have corporatists inside the Republican party and that means you take care of corporations and corporations take over and run the country.”
Paul said examples of President Obama’s “corporatism” were evident in the heath care reform bill he signed into law last month. He said the mandate in the bill put the power over health care in the hands of corporations rather than private citizens. But he said the bill wasn’t the only place where corporatism is creeping into Washington.
Perfect example of Ron Paul’s idiotic tin-foil hat stupidity. Yes, I know also about his straw poll defeat to Mittens. To be be quite, and brutally honest; I cannot stand Mitt Romney. To me, Mitt Romney is the perfect example of the arrogant, rich-boy attitude that permeates some of the G.O.P. — A perfect example is Mitt Romney’s treatment of John McCain during the 2008 election debates. I thought Romney snickering at McCain was childish and unbecoming of someone of Romney’s background. Not to mention Romney’s Mormonism, which is a BIG ISSUE with me. However, seeing Ron Paul’s background. past and present associations; I will happily take a Mitt Romney victory any day of the damned week.
However, because I am realist; allow me to throw a wet blanket on this little victory. Straw polls are one thing, actual winnability and true Conservative victories in actual elections are another. As the 2008 Primaries proved, Mitt Romney just does not have the winnability in a primary. Heck, the only state that actually gave him any sort of percentage was Utah; and we all know why that is the case. Not to mention, does anyone actually remember, Romney-Care? Barack Obama’s biggest talking point is the fact that Obama-care is, in fact, based upon the Romney-care model.
The point is that Mitt Romney is a Liberal Republican, if he did actually win the primary and I highly doubt he ever would; the Republicans and Independent Conservatives would simply stay home and not vote or would cast votes for a third party.
There are some who believe that Sarah Palin is the perfect solution. Well, allow me to throw a wet blanket on that one too. There are many who believe, including myself, that Palin would never make it out of the Primary. I happen to agree with that. While she might be pretty, most people, with any kind of sense and who are not Palin-bots; believe that Sarah Palin just does not have the proper experience to be President. But, dear God, if you say this to one of her fan-boys, you are accused of being a sexist, a woman hater and so on. Which does sound like the liberal left, does it not? Gender-baiting in the G.O.P.? I thought I had seen it all. 🙄
Be that as it may; the mid-terms are going to be an interesting time, and I can assure you, 2012, is going to be even better. I cannot wait.
I start this entry out with a very funny quote by AllahPundit:
I’m officially confused.
Heh! What else is new? I kid, I kid! Allah’s a good ol’ fellow, when he’s asleep. 😉 He would be an even BETTER fellow, if he would link to me, once in a stinkin’ while. But alas, I was placed on the blacklist over something that happened eons ago, back when I was on the wrong side of the political fence. All I will say about it is, I thought Catholic Churches taught the doctrine of forgiveness? So much for that, I suppose. 🙄 It amazes me, that those who toot their horns the loudest about being Christians, and decry the immorality of the Liberals; are the ones who act like it the least. Just sayin’ AP, Just saying. (I’m saying all this, because I know damned well he reads the trackback links. I also know he knows what I am referring to, as does Ed…. and besides, traffic’s low around here, I need to start something! 😉 )
Anyhow, Filipino Conservative political hacks aside; ( 😯 ) I am referring to this story in the Dallas Morning News, that has some telling news about the Ron Paul’s chances of getting reelected in light of the Tea Party Movement:
Paul, the Gulf Coast congressman whose 2008 presidential run excited libertarians nationwide, even though he didn’t get much traction overall, is considered by many to be the “father of the Tea Parties.” But he has three opponents in the March Republican primary – more than he has faced in his past six primary campaigns combined…
John Gay, Paul’s third opponent, said he has attended several Tea Parties and related meetings. Both Wall, a machine supervisor, and Graney, a former small-business owner, have helped organize local rallies.
Tea Party associations aside, many of the challengers’ criticisms echo concerns of Paul’s past opponents: that he is too focused on his national ambitions; that his views are too extreme; that he doesn’t support the wars in Iraq and Afghanistan; that he votes “no” on everything, including federal aid for his district after Hurricane Ike.
“The word I keep hearing is ‘ineffective,’ ” said Gay, a school business administrator. “This district is not really being represented as it could be.”
AllahPundit does not understand why they’re targeting him. Well, It could be that Paul voted against Hurricane assistance after Ike hit down there in Taxes.
A couple of other things come to mind as well. First off, I believe people in his district and elsewhere are just sick and tired of his political grandstanding. Ron Paul just tends to say no; for the sake of saying no. Which is not exactly representing the people of his district. Also two, I believe of his district are just not happy with his stance on the war on terror. Paul and his Paleo-Conservative ilk are one’s who side with the left, that mostly believes that America itself is the result of terrorism and that, I am very sorry to say, is an asinine charge of the highest order. Al-Qaeda has a long standing beef with us, because of our support of Israel. Something that the Paleo-Conservative right hates, because a good ninety-nine percent of them are antisemitic. Not to mention racist. This is why the “Taft Wing” of the Republican Party was called out by people like William F. Buckley Jr. and most of them were either sidelined or changed their views.
I said this in the comments section over at R.S. McCain’s Blog and I will write it here. If Tom Tencredo’s screed against Blacks, Jews and other minorities is going to be co-oped by the Tea Parties and also by the G.O.P.; you can count me among the people that will not be voting for any Republicans come 2012. I voted Libertarian in 2008 and I can, and well again, if need be. I would think that seeing there is a Black Man as the chairman of the G.O.P., that the Republican Party would take a hardcore stance against such stuff. But then again, Michael Steel is the chairman. If you know what I mean, and I think you do!
Anyhow, Paul district election should be quite interesting, and it is a sign of things to come here in November! I just cannot wait, because I just know there is going to be some major upsets come November.
Hmmmm, I didn’t know Michael Moore got around that much:
Osama bin Laden, the al-Qaeda leader, has condemned the US and other industrial economies, holding them responsible for the phenomenon of climate change.
In an audio tape obtained by Al Jazeera, bin Laden criticised George Bush, the former US president, for rejecting the Kyoto pact and condemned global corporations.
“This is a message to the whole world about those responsible for climate change and its repercussions – whether intentionally or unintentionally – and about the action we must take,” bin Laden said.
“Speaking about climate change is not a matter of intellectual luxury – the phenomenon is an actual fact.”
via Al Jazeera English – Middle East – Bin Laden deplores climate change.
Wow. Talk about someone’s role being diminished to that of a Barking Moonbat.
The News article goes on to say:
In the new recording, bin Laden says “all the industrial states” are to blame for climate change, “yet the majority of those states have signed the Kyoto Protocol and agreed to curb the emission of harmful gases”.
He continued: “However, George Bush junior, preceded by [the US] congress, dismissed the agreement to placate giant corporations. And they are themselves standing behind speculation, monopoly and soaring living costs.
“They are also behind ‘globalisation and its tragic implications’. And whenever the perpetrators are found guilty, the heads of state rush to rescue them using public money.”
The Kyoto Protocol, a UN treaty aimed at combating global warming, was adopted in December 1997 and has since been ratified by 187 states, but not by the US congress.
Although a signatory to the agreement, the US under Bush refused to ratify the treaty, saying that it should contain binding goals for developing countries to reduce emissions as well as those for industrialized nations.
Sounds like that could been written by say, Keith Olbermann, Rachel Maddow, or Ron Paul or Pat Buchanan. I mean, Liberals, Paleo-Cons and radical Muslims do have quite a bit in common. All of them, believe that the attack on 9/11 was justified. All of them believe that the United States is an imperialistic Nation, so, they could be working together for a unified cause. As they say, great minds think alike, right?
But Moonbats, Anti-Semite Racist bigots, and Anti-American Faux Conservatives aside. Is this not like a big step down for this so-called “leader” of the Arabian radicalized Muslim World? It seems so. Maybe MSNBC can use him or something. Can you see it now? “Countdown with Keith Olbermann with Special Guest Star Osama Bin Laden”
Others: Left Coast Rebel, AmSpecBlog, The Long War Journal, Another Black Conservative, Sweetness & Light, JammieWearingFool, YID With LID, Stop The ACLU and RedState
I guess this is what happens, when I try to be civil to people. A few days ago, I wrote about a video that I happened to see over on HotAir.com, it was about Ron Paul and him yowling on about how evil the C.I.A and how they were co-opting the Military. It was, if felt, a very stupid and borderline Alex Jones sounding nonsense.
Not entirely surprising, some of Ronnie Paul’s little sock puppets and mindless stooges came over to make their inane arguments about how wrong I was, and have horribly evil the Government is and so forth. At first, I thought about deleting them, but I figured I would be a little charitable and let them have their say, I also notified a friend of mine, who one of the commenters slandered, my friend said he was not too worried about what this person said, and so, I decided I would try to engage these people.
This proved to be a foolish mistake, because right now, sitting on one a man’s blog, who calls himself, “The Fat Libertarian.” Who’s actually name is Robert Timsah, and who lives at [snipped]-— on his blog, which I will never link to, is a video of him discussing my responses to his idiotic feelings about me, Republicans; of which I am not affiliated with, or Neo-Cons, which I am not — mainly because I am not Jewish. With the Ron Paul people, as with the Liberal Left, Neo-Con is code word for some sort of Jewish cabal. Anyhow, this video was shot without my consent, approval, or even knowledge. Which could be grounds for a major lawsuit, should I desire to pursue this in a court of law.
In any event, I removed the discussion with this man and his libertarian sock puppets, because I was essentially set up. Therefore, here is my message to the Ron Paul-ites who read this blog:
YOU ARE NOT WELCOME HERE ANYMORE…
I am the nicest person you would ever want to meet, rarely am I a “Hard Ass” about anything. However, when I decide to give someone a chance and that person abuses that chance, I stop being a nice person. Since one of the Ron Paul idiots decided that deceiving me and filming contents of my blog, without my authorization would be cute, I have decided stop Ron Paul’s fans from having any say on my blog, ever again. I am all for freedom of speech, but when those who believe in freedom of speech decide to engage in deception, that freedom stops with me.
As for the video, I reported it to youtube, hopefully, they pull it, as my rights were violated here, in a big way. I may also pursue this in a court of law. I do have an attorney friend of mine, who owes me a big favor. I did some web consulting work for him once, and he told me, if I ever had a legal problem to call him. I might check with him on Monday.
So, to the Ron Paul people, consider yourselves persona non gratia around these parts.
Update: This “Fat Libertarian” was kind enough to remove the video, so, I removed his address. But my feelings about these people remain unabated.
AllahPundit Explains the Stupid:
I’ve already written about how his isolationist garbage leads inexorably to nonsense like this, so let me just add two points. First, and most obviously, there is no U.S. occupation of Yemen or Nigeria. The only way the airline plot is a reaction to U.S. “occupation” is if you accept the jihadist premise that there are no Arab/Muslim nation-states but rather only one Islamic caliphate waiting to be born. Only in that way does the U.S. occupation of Iraq warrant a reprisal from, say, a Pakistani or Yemeni. And yet, needless to say, if Britain was attacked tomorrow and Obama pledged U.S. forces to assist in the reprisal, Paul would be the first guy to scream that we should scrupulously observe national boundaries and not go fighting another country’s battles for it.
Second, as usual, his facts are wrong. He uncritically accepts Abdulmutallab’s assertion that the bomb plot was retaliation for the U.S. airstrike on jihadi camps in Yemen. Not so: As Jake Tapper explained yesterday, this turd had already been mobilized and had even bought his Northwest ticket before we struck. Purely and simply, America’s Greatest Patriot is parroting propaganda cooked up by jihadist pieces of shit because it happens to fit his insane foreign policy agenda. Support him and his disciples at your peril.
Amen and Amen. I have written on this blog time and time again; that Ron Paul’s Foreign Policy is rooted in 1940’s Pre-World War II mentality, only to be blasted by Pro-Ron Paul nuts who sometimes like to come here and poke at me for having the audacity to insult their fearless leader. This is why Ron Paul is not, nor will he ever be President. When I do say this, the best these Ron Paul bots can do; is to call me a “Neo-Con”, which in the language of the Ron Paul followers means Jew. Which is pretty funny, considering the parents are both people that were born and raised in southern states — which is a nice way of saying, they’re both Hillbillies. So, I am as much as a Jew, as say, Barack Obama?
In fact, I do not consider Ron Paul to be a true-blue Republican or even a Conservative. I consider him to be an old school, crypto-Leftist — heck, half of his supports who write over at the American Conservative, also write at places like The Nation associates website, and “The Week” which are both far leftist organizations and publications.
Anyhow, this should prove it, that Ron Paul has no place in modern day politics, at all. Period. End of Discussion. Heck, there are now even videos connecting Ron Paul to the… gulp… illuminati.
Please note: An earlier version of this entry had a link to a “Rick Roll” youtube video in the last paragraph. I cut and pasted the wrong link. I have now linked to the right video. Ooopsie. 😛