Thursday, April 14, 2011

Unemployment Up, PPI Up, Gold and Silver Up, Obama's Stock Down

I couldn't bring myself to listen to Obama yesterday evening. Seriously. The guy is so full of shit that he defies belief. He has zero credibility. Even the Wall St. Journal has given up on Obama.

Unemployment claims went up drastically this week- following a mandatory upward revision from last week. Producer prices were higher than anticipated. Gold and silver were up.

Let me state two obvious things. When Obama talks about "future" cuts- this is patent bullshit. Not only is he kicking the can down the road but future politicians are not bound to obey any guidelines or legislation. They find ways around that. The only legitimate way for Obama to gain credibility is to end his rhetorical bullshit and actually CUT deficit spending. Come up with a project for reducing existing debt NOW.

That's why I can't listen to this guy. He is just full of shit and worthless. At a time when this country needed a leader- they sent this guy. What a disaster. Wirecutter pretty much nails it in his own beautiful way.

Erin Burnett called the IMF and world currencies a Ponzi Scheme this morning on CNBC. I heard it.

Gold and silver. Winning.


rawmuse said...

The year is 2016.

The total control by the People's Communist Democratic Party is near completion.

The very last two Republicans are being assembled to be shot by firing squad.

As they are being placed against the wall, one says out loud

"My blindfold is too tight!"

the other says

"SHUT UP, MAN, fer crying out loud, don't make waves!"

Brian said...

ROTFLMAO! Thanks RM. Loved that.

davecydell said...

I went to bed last nite with Thursday circled on my calender to buy silver and woke up to bad news. What to do , FG ?

davecydell said...

"Erin Burnett called the IMF and world currencies a Ponzi Scheme this morning on CNBC. I heard it. "
Yeah , right, can I have a shot?

Brian said...

I did. Mark Haines told her to "check her cynicism at the door." He is such a pussy.

I follow a chartist, last canary, he thinks silver will struggle around 48-48.50. That is close to my double range. I am gonna offload 1/2 of my position there- wait for a stock market collapse- and reload. That's my plan anyway.

Anonymous said...

Brian, give me a crash course in commodities, if you would. When one or more of the major hoarders decides it's time to take their profit, will that trigger panic selling? If so, what will you do? Takes some profit while you can and then hold the rest until the next wave comes? Does that type of thing worry you at all. Forgive my ignorance but I don't understand this game at all.

Brian said...

Jim I only trade equities and options. Silver and gold are indeed commodities but I don't trade paper (futures/options) silver and gold- I own physical silver and gold. I will have doubled my money in silver at 52-54. I am going to sell one half of what I own at that level. I am going to let the other half ride- that is pure profit since I have gotten my original investment back by selling.

Gawd I hate to use this phrase- but this time it is different. Global currency systems are failing and the world is bankrupt. This has never happened- the US and the world- bankrupt. Because of this- silver and gold (PM's) will become the default world currency. That is the only place people can store their wealth and preserve it.

I do not worry about PM prices collapsing. In fact, I don't even think its possible. However- I do see a stock market collapse...that is possible...and if that happens gold and silver will fall with it- maybe. I will be a buyer if PM's fall. If not I will still have 1/2 of my rig purchase.