Who Is Guarding The Fort (Knox)?

Tyler Durden's picture

Are all Fed employees currently watching Angelides carefully to see if their name is mentioned (or better yet barricading the doors to keep the FBI out)? Sure seems that way. Either way, great use of tax dollars to keep the Fed's henchmen employed. Since it take only one man to print, and another to refill the ink, aren't all these apparatchiks redundant? Perhaps, just like BBC reports based on witness reports out of Cairo Airport where there apparently is a group of private jets waiting for high-level officials, so the distinguished gentlemen (and ladies) are merely busy transferring whatever is left in the unauditable Fort Knox to their own currently warming up Cessnas?

And yes, at least some Fed creatures have Bloombergs. (unlike the OMO desk).


h/t Maurice

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FOC 1183's picture

90% are not even logged in.  nice

doomandbloom's picture

no guards required for tungsten...

brian0918's picture

Gold and silver are both plunging right now. So much for an short-term advance on yesterday's action.

Arius's picture

yep - its a downtrend now...

Math Man's picture

Gold is done.  You can still buy inexpensive puts on GLD though.

March 120s are less than 20 implied vol.

Seems like some reasonable insurance for 80c.


DosZap's picture

Or, no one is talking to them now.

Oh regional Indian's picture

Why the Fox on the ground and the Squid's in the moat! All 29 million troy ounces.

More like 29 million Troy Ouches.




Spalding_Smailes's picture

Flash Crash in Gold/Silver !!!!!


Turd, Turd ?????? But, but, but ....  So the charts can be used on up days but if its a wipeout its always the EE .... Lol'

Mr Lennon Hendrix's picture

Are you wearing your Dow 12k hat on backwards?

Dow down 6.66 and pauses on it.

You will not have gold crash without equities crashing.  So it is either gold back up, or equities down.  Which will it be?

Spalding_Smailes's picture

But, but, but ..... Gold has been sic as a dog since oct. 20th... Stocks up over that time ???


And now that $1,320 has been snapped Turd's heading back toward square one.

What was his new call $1,600 by when, memorial day .... Tick-tock '''

Hephasteus's picture

You heard the man. Take your pick. Are they going to pull the HFT floor out the market or let gold go back up soon as some unrealistic budgets get "firmed up".

Spalding_Smailes's picture

I told you 3 months ago about Cat's booming numbers, Starbux, everyone is posting better numbers. The doom trade is ooooooooover.


Arius's picture

happy days here again - cheerry onnn...

EscapeKey's picture

Yeah, and as the deficit estimate has been increased by $500bn, this is enormeously bullish in itself.

You're effectively selling out-of-money put options, you do realize that?

Bay of Pigs's picture

Don't you ever get tired of the I, I, I, me, me, me, "told you so" crap? 

You have no idea what you're talking about on the PM's. Most of us have learned the hard way to buy and hold, even through these corrections (orchestrated or not). I've seen top callers like you for over ten years and $1420 was not the top. 

And with all your successful day trading and perfect calls, how do you have so much time to post on every thread here at ZH?  


Mr Lennon Hendrix's picture

Spalding since you want to have a boner contest I have been long Cat since the spring of '09 (NOTE:  I have no and have never had any exposure to CAT).  I have no shame saying that this is a corporate takeover.  After the controlled demolition of the financial system, the corporations set on a course to inherit the economic landscape.  If you wish to tag along like a flea on a dog's back I will not judge you.  But enough with what you do not understand.  Gold is the backbone of the financial system.  Take it down, and your flea ass goes with it.

Spalding_Smailes's picture

Hope your right because this could rip the face off of gold/silver if true .... Tomorrow's GDP report'.....

( 1,319.00 ) Woooooooooooooooooosh, no more chart support ...


Let's get the party started.


Here's Deutsche Bank's Joe LaVorgna with a preview:

We expect today’s Q4 real GDP release to show a 3.5% annualized gain, although the underbelly of the report will likely be even stronger with final sales poised to grow at the fastest pace in nearly five years. No doubt, a mix shift away from inventory investment and toward final demand will give the economic expansion added sustenance. This positive momentum will be reinforced by extremely accommodative fiscal and monetary policy, which in turn causes us to question whether our forecast for 2011 real GDP is too conservative. Before the onset of the last recession, the dollar value of real GDP peaked at $13.364 trillion in Q4 2007. Based on our forecast of a 3.5% annualized gain in Q4 real GDP, the economy will surpass that level and rise to $13.394 trillion. This will officially place the economy in expansion mode. Much of the increase in output is coming through greater consumption and business investment. We estimate real consumer spending grew 4.5% last quarter, led by a massive 23% increase in durable goods expenditures—predominantly coming from auto sales.

Given solid gains in consumer and business spending, we estimate that final sales, measured as GDP less inventories, will rise a solid 5.3%. This would be the largest gain since Q1 2006 (5.9%) and would represent the third largest increase in final sales in the last 10 years. To be sure, it is a noticeable improvement from a 0.9% gain in Q3 2010 and an average increase of just 1.1% since the recession ended. Assuming productivity growth slows, which is a critical assumption of ours, then by definition accelerating domestic demand must be met through faster job creation. The risks are certainly tilting toward faster real GDP growth this year than we presently forecast, but we will need to see at least one outsized employment report before we consider altering our projections. This probably did not occur in January, since weather appears to be distorting much of the data.



Crime of the Century's picture

How about an update on the amount of mortgage payments diverted to other spending? BoA now declining to issue NODs in non-judicial states? Oh yeah, we're back baby. America, %#$@ YEAH!!

traderjoe's picture

Did you really just quote Joe LaVorgna on ZH? The 'economist' that has predicted a HUGE jobs print "any report now" - and has been wrong for 2 years now?

So, you've been "right" for 3 months now on some 15% gainers. WOW. It's not a sprint, it's a marathon...

DosZap's picture


We have seen the market numbers, all held up by our tax dollars, and overseas EXPORTS.

Because unless I am one blind SOB, the only ones making money are based overseas.

And NO American jobs.

We about saving America or Corporations doing shit for us??.

They can all go to hades as far as I am concerned.American companies should be taking care of Americans with their jobs.

Big business, married to the DC Bitchezzz, is about gone on long enough.

DosZap's picture

I found it somewhat humorous, that the totals for SS/MC, were nearly the exact same price as Obama has projected for this year.


DosZap's picture


Not that the Head Turd cannot fend very well for himself, but everyone, (him included) are using tradional charts methods,and time lines.

What is DIFFERENT is we are in a Monkey Jerk Mkt, its being manipulated to hell, I mean, FAR more than usual.

From here to the Tora,Tora,Tora dive,(Currency Collapse, coming a lot sooner than we think) I think old, conventional charting, is OUT the window.

Its any mofos game at this point.

Sure you can call tops/bottoms/trendlines, 20/50/200MDA's, but you cannot account for the Ghost in the Machine.


DosZap's picture

Mr. Hendrix,

Do you think the USD dropping below 74, (which could happen anytime), is the catalyst for the Cliff Dive Event?.(Currency)

Esp since China is using UST's to buy Euro Bonds, and converting to Gold and Silver?.

Hephasteus's picture

Turd was reading the charts well. He just picked wrong way. It'll firm up another 40 bucks more loss or so. LBMA and Comex have to go full crook but they don't want toooo much insanity mixed with their crazy.

Spalding_Smailes's picture

I just find it funny how he can use charts for calling bottoms but will not talk about the massive head and shoulders playing out or how every selloff is the Evil Empire.


It must be nice to yell " Evil Empire " every time a trade goes south, a built in excuse ....


How can you chart in a " massive manipulated market " ????

Womb Service's picture

Turd uses charts to show how they paint the tape. Pay attention, Mr. Bravo.

Spalding_Smailes's picture

Mr. Bravo is gone - With his bad calls.

My calls have been spot on, did you pick up Nvida in early dec. ???? Or RIMM at $44 ? Or US Steel at $44 ??


I'll give you another ....( MPEL ) The train is almost gone .... 

Mr Lennon Hendrix's picture

Anyone can pick stocks.  Monkeys throwing darts can pick stocks.

tmosley's picture

Hilarious.  Mr. Bravo claimed his calls were spot on too, until myself and others nailed his ass to the wall.

I wonder how your steel will do with international trade grinding to a halt?  Your paper is all trash, and only going up in terms of other paper.  

earnyermoney's picture

Johnny Bravo, Master Bates, Bigger Dickus, Pat53, HarryWanger, Spalding Smailes one in the same. Compliant sheeple to their fascist overloards.

DosZap's picture

I take the BM EE to mean the Silver Mkt, not the GLd.

When Turd uses it as a funny war cry.

Which isn't so funny, since they got nailed by the lawsuit by GATA, and Obama did another Reach Around to get them a PASS.

What a evil bastard.

From my Vantage he has called them as good or better than most.

Spalding_Smailes's picture



by Turd Ferguson 
on Wed, 01/26/2011 - 17:30

There you go! How about an "Audit Fort Knox" bill, instead?

At any rate, if anyone is wondering how things are working out in the bottom-calling business, feel free to click here:


SheepDog-One's picture

Dont be idiots people, dont listen to this Spalding or any of the other PM sourpusses...what would you rather have during collapse some pieces of paper or PM coins? Just ask the world leaders escaping their countries what theyre bringing with them- the gold.

Spalding_Smailes's picture

Jim Rogers is out, the charts say run, Nomura is out, Cargill is out.....


Good luck !!!

alien-IQ's picture

so let me see if I got this straight:

you'll buy the fuckin dip on some overvalued piece of shit like NFLX with a PE nearing triple digits but you won't buy the dip in the only currency that has managed to hold it's value for a few centuries?

That makes you either:

a) a genius.


b) a total fuckin moron.

I'll let others decide for themselves which category best suits you.

Spalding_Smailes's picture


I have pimp'd US Steel, AIG, BAC, NVDA, XOM, JOBS, JPM, DB, ARMH, ZEUZ, RIMM ...

All have gone on 15% run's or more ....

I have also been calling a gold top for 3 plus months with all the " housing bubble quotes ".


This gold bashing is nothing new .... But, I have been spot on.

Bay of Pigs's picture

Pimp suits you well. Humility not so much.

Hard to believe you're the only one here picking winners every single time. So why don't you have your own blog or newsletter? If Gartman can do it and have such a shitty trading record, why would people not follow you instead?


alien-IQ's picture

two things:

1) you've been calling a gold top for 3 months...and now that it takes a dip you claim some sort of intellectual victory? as a reminder I'd just like to point out that even a broken clock has the right time twice a day.

2) you been pimping JPM, BAC and AIG...and you say this with pride? LOL!!!!!!!!!!

I rest my case.

PS: regarding my earlier post...given the evidence provided by your reply...I'll have to go with "B" as my answer. Final answer.

SheepDog-One's picture

Good luck to YOU Spalding! Youll obviously need it!

Math Man's picture

The longs are the ones who need luck here.


Either that or some puts.

bruinjoe93's picture

You're a liar.  Jim Rogers said he wasn't going to purchase any gold when it was high but he wouldn't sell it either.  He said he'd buy more if it dropped.

Kristian's picture

Who is selling his PM's then?

pirea's picture

Simple. The guys who do not have PM. Just paper contracts.

hedgeless_horseman's picture

I thought we had sent #6 and her red hair back to Russia?

Confused's picture

Thanks for the chuckle. I needed it.