Gold keeps failing at key bull pivots and this last top was exactly dead center at key resistance. Usually that means a big leg down and clearly the targets would be 1193 and 1060 UNLESS gold goes back above $1345. If you look to the left near the final low, we could be folding back down into that October 2008 area from March / April 2009 and that foldback leg would be the 1062 target precisely. Of course if we are near March 2009 on the foldback it could mean most stocks are now at major TOPs but stocks that went up and back down like X and BAC are there too and folding up BIG, up into 2008. Gold will be a key tell so watch closely.

I got this in my e-mail…..My response below…Food for thought.

Here are the 10,535 pages of obamacare condensed to 4 sentences…

As humorous as this sounds…..every last word of it is absolutely TRUE!

1. In order to insure the uninsured, we first have to uninsure the insured.

2. Next, we require the newly uninsured to be re-insured.

3. To re-insure the newly uninsured, they are required to pay extra charges to be re-insured.

4. The extra charges are required so that the original insured, who became uninsured, and then became re-insured, can pay enough extra so that the original uninsured can be insured, which will be free of charge to them.

This, ladies and gentlemen, is called “redistribution of wealth” … or, by its more common name, SOCIALISM.

Yup. This is it in a nutshell.

===================================================

Mr.Copper Response.
Ree,

Yer right. That’s the way it looks in a nut shell. But lots of things are not just the way it looks. In my view, this all fits with my reversal observations. Briefly. No time for full explanation.

When they started globalization around ’75, and started giving away trillions of dollars worth of manufacturing jobs and production business activity, they HAD to come up with artificial service job creation ways to make up for the losses. The medical SERVICE industry was expanded via free medical insurance expansion after ’75.

At the beginning, (late ’60s) coverage was free at work. Nothing is a coincidence. The reasonable premiums the employer paid, the $10 co-pays and little or no deductibles, encouraged many people to take advantage, and go to the Dr. for any miner little thing. And naturally the “cover my ass” excuse encouraged Drs to run many expensive tests. (more service workers)

Naturally we all know how out of hand the trend evolved between ’75 and summer ’08. We are now in my opinion and observation, a reversal of that trend. Obama care was the “method” or “encouragement” (thru bigger deductibles, bigger co-pays) to STOP people from going to the Dr. for miner things, and unneeded tests. (less service workers)

One medical receptionist told me…”I’m doing this 30 years and never seen it this slow” “Nobody’s coming in for tests like they used to” “Many are going without”. TPTB finally knew in 2008, that artificial service job creation is no longer sustainable. It simply ran its course. Many other artificial gov’t supported service jobs are in trouble too.

They are bringing production and manufacturing back. Starting to produce THINGS here that people actually need to live. We don’t really NEED services to live. We need food, fuel, cars, planes, TV sets, widgets etc. China IMMEDIATLY went into contraction after we imploded in ’08. At the same time we went into expansion. But very few see this. Those who are first, always look wrong at first.

PS: Medicare itself was a make work welfare project as we started to lose jobs to Japan after wwII. Medicare and Medicaid gradually became needed as our wealth was being drained for foreign nation benefit, WWII Korea Vietnam etc.

The tax PAYING people can no longer be taken advantage of. We can’t afford to fight other peoples wars anymore either. “Bernie Madoff” was known and allowed to do that because it helped generate revenue.

The No Doc liar loans were also allowed to keep real estate related home Depot jobs going. Paying Americans to sell foreign made goods. Solar panels another gov’t welfare industry.

I can go on and on. Note the zero interest rates these days. Sub prime loans and 7 year payouts for cars now ya know. Cash for clunkers, more welfare for USA car dealers selling Jap Korean and German made cars.

The central planners are managing the entire planet. They may have waited too long to rotate the production situation back to USA. They keep getting hit with “black swans” lately.

The entire Middle east is in reversal too. Even some European countries want separation. California I heard had some counties that want to separate.

Too many square pegs were forced into round holes, and the “mechanism” is malfunctioning. You will never see these views on Glenn Beck, Rush Limbah, Fox news etc.

Nothing is a coincidence, or natural market force. TPTB have been driving the US dollar higher since June to invert the Euro LOWER since June.

“Europe NEEDS inflation” to stop deflation is their stupid logic. And of course, the USA needed a little break from inflationary $4.25 gasoline or high oil prices from back in June.

I’ve been watching the game a long time. They have been rotating and smoothing things, sharing pain and pleasure from country to country.

Don’t think, look at the Dollar and Euro:
http://finviz.com/futures_charts.ashx?t=CURRENCIES&p=d1

Now look at the US Oil cost:
http://finviz.com/futures_charts.ashx?t=ENERGY&p=d1

More evidence. Reversals. Push is coming to shove. Countries are starting to watch out for their own asses. In other words, like the Commune they had going in sunny ca. in the 1960s, one by one, the people getting the short end of the stick, dropped out.

MANILA – A Philippine senator has filed a bill urging a halt to exports of unprocessed mineral ores, similar to a ban introduced by Indonesia that led to a sharp spike in nickel prices and cut exports of other ores.

The Philippines, which has vast but largely untapped mineral resources, has been looking at ways to raise the contribution of mining to its economy.

The bill, filed in late August by Senator Paolo Benigno Aquino, a first cousin of President Benigno Aquino, would require domestic processing of all minerals extracted in the country prior to export if passed into law.

This may require nickel miners, for example, to build more smelters to process the ore before shipment. Some ores are shipped directly to China and Japan for processing.

The Philippines currently has two processing plants for nickel both owned by the country’s top producer Nickel Asia Corp , two for gold, and one for copper, according to the Mines and Geosciences Bureau.

Paolo Benigno Aquino is one of 24 members of the upper house Senate, which is dominated by allies of the president.

“This measure seeks to generate more domestic income, attract more investments, and lead to more jobs and livelihood for the Filipino people,” the bill said in its explanatory note.

Mining contributed less than 1% of the Philippines’ gross domestic product from 2003 to 2012, the note said.

more http://www.miningweekly.com/article/philippines-senator-files-bill-to-ban-mineral-ore-exports-2014-09-03

He’s hitting on all cylinders!

Next up … “The Fresno Chapter.”

The Libya of today, is no more the Libya we used to know, it is changing for the worse, at the speed of light.

The Islamists of Tripoli have gone the extra mile and have booted the last ministries of the government entrusted to rule the country by the elected assembly, out of the capital to their exile seat in Tobrouk. Their argument on that is that they did not get rid of the dictator Gadhafi to bring in Western Christian democracy, the Libyan people want the government of Sharia. So after this incident, the forced coexistence with the liberals is definitely a thing of the past.

more http://stratrisks.com/geostrat/20843

tell us he likes gold in Euro and Yen terms.

must be a delayed reaction thing.

“God of Crude Oil Trading” Goes All In On Crude At $150 Bet

Tyler Durden’s pictureSubmitted by Tyler Durden on 09/03/2014 21:10 -0400

Andy Hall – known as the God of Crude Oil Trading to some of his peers – has, according to Bloomberg, built his success on a simple creed: Everyone who disagrees with him is wrong. He was one of the few traders who anticipated both the run-up in and the eventual crash of oil prices in 2008. Hall has made billions for the companies for which he’s traded by placing one aggressive bet after another; and now, he is all-in again. Hall is going all in on a bet that the shale-oil boom will play out far sooner than many analysts expect, resulting in a steady increase in prices to as much as $150 a barrel in five years or less. As one industry CEO warned, “anybody who bets against Andy Hall might be making a poor bet.”

more http://www.zerohedge.com/news/2014-09-03/god-crude-oil-trading-goes-all-crude-150-bet

There was some news about Almaden yesterday …

Almaden Announces Ixtaca Gold-Silver Deposit PEA Update Showing Significant Capital Savings And a Ramp-Up Alternative Case

http://finance.yahoo.com/news/almaden-announces-ixtaca-gold-silver-130000101.html

It’s like Alice in Wonderland. What’s next … pay your employer to be allowed to work?

I see gold just jumped … 🙂

Almaden – AAU is catching  nice bid this am. Didn’t see it on your news list.

PARIS (AP) — Responding to international pressure, France suspended the delivery of a warship to Russia at least until November amid security concerns over Moscow’s role in the Ukraine crisis, officials said Wednesday.

The Vladivostok, the first of two Mistral-class helicopter carriers ordered by Russia, was due to be delivered next month as part of a 1.2 billion euro ($1.6 billion) contract — the biggest-ever sale of NATO weaponry to Moscow.

The second ship, named Sevastopol, ironically, after a port in the Russia-annexed Crimean Peninsula, has been slated for delivery next year.

http://finance.yahoo.com/news/france-suspends-delivery-warship-russia-160825664.html;_ylt=AwrBJR.FSAdUn1oAnHzQtDMD

yeah, such a deal, pay to deposit your cash in a broke bank. Unbelievable.

Looks to me like the Draghi party in Germany is fading.

They’re cutting rates because their economies are doing so well. I’m gonna move my funds there as soon as possible.

Newmont signs MoU with Indonesia govt, to resume copper exports next week

http://finance.yahoo.com/news/newmont-signs-mou-indonesia-govt-040646229.html

Beaufield Resources Inc.: Geologica to Complete a NI 43-101 Report for the Launay Property, Québec

http://finance.yahoo.com/news/beaufield-resources-inc-geologica-complete-123000115.html

In Shocking Move, ECB Cuts By 10 Bps, Sends Deposit Rate Further Into Negative Territory

Submitted by Tyler Durden on 09/04/2014 07:49 -0400

While everyone was expecting Mario Draghi to announce ABS purchases, few if any had expected the ECB to also cut rates. Which it just did whacking its corridor rates across the board by 10 bps, in the process sending the Deposit Facility rate even further into negative territory, now down at -0.2%.

From the ECB’s monetary policy decision:

At today’s meeting the Governing Council of the ECB took the following monetary policy decisions:

• The interest rate on the main refinancing operations of the Eurosystem will be decreased by 10 basis points to 0.05%, starting from the operation to be settled on 10 September 2014.
• The interest rate on the marginal lending facility will be decreased by 10 basis points to 0.30%, with effect from 10 September 2014.
• The interest rate on the deposit facility will be decreased by 10 basis points to -0.20%, with effect from 10 September 2014.

The President of the ECB will comment on the considerations underlying these decisions at a press conference starting at 2.30 p.m. CET today.

To be sure, the EURUSD is down nearly 100 pips on the news, and this is even before Draghi has announced his “Private QE” which announcement is due in 45 minutes.

So now that it will cost Europeans even more to deposit money at the bank, here is a snapshot of how delighted, giddy locals from the Old Continent are reacting to this latest ploy to fix “stuff” by the ECB.

Did you read a little further on down the line?  Something about a razor trim? Well, I have been known to shave a lady’s leg or two in a bubble bath. and a stranger to a toothpick I aint. Course that may be getting outta bounds for the Oasis. Yet, still good to know how those northern folks stay warm in the  winter.

Hope those Gators get it together. Aint gonna be much fun ithis season if you all don’t play in the rain.

Best, Farmboy

Cows can make a man a good steak, and some milk. Here…..think I found what you’re looking for…meet Mr & Mrs American,

 moo

of a North bound mule, while he lets off a little gas. Yet, there are some, that will hang on his every word. 🙂 And those talking heads on Fall St. Funny how we folks pick our Gurus aint it?  Thinking how ‘they’ know whats best for us.

seems gold is putting up a little fight this morning. I wont be happy, get too excited, until gold has some triple digits showing up on the charts. then I will know, the game rigger are loosing the battle, and our Precious is assuming it’s rightful place. Everything else is just bankster noise till then. Course, I guess these markets are a nickel flipper’s joy. Wish I was smart enough to play em. On the other hand, I got real chores to do, like take out the garbage. Sad aint it….how those daily chores are the highlight of a Goldbug day.

Well, at least aint no one shootin at me today. Or standing over me poised to cut my head off. Course, the way things are going….wouldn’t surprise me none. Course, with the President we have, I figure he will get around to it sooner or later if he can. I use the term President loosely. He aint my  President by any stretch of the imagination. And when he gets off Air Force One from some golfing mission, those Marines show more discipline when they salute the clown than I could ever show.

Just call me disenchanted , Farmboy

Well, I appreciate the education in ‘bushwhacking’. Always good to learn something new. Guess us Southern folk don’t talk about such things as much. What happens down by the creek bed, or lakeside, or even in the Hay Barn, pretty much stays there. Getting harder these days to spend a little time with your gal in private. I figure with all these gubberment cameras they are putting up everywhere, and now talk of drones….well, the good ole days of skinny dipping and running nekked in some field is about over.

Guess I was lucky to have grown up in more innocent times. About the only thing I had to look over my shoulder was that Gossip Bench down at the church. What they did not know….it sure seems they could make up stories. (grin)

Well, I raise a cup of coffee in your honor this morning. Cheers, and I hope you get bushwhacked real soon. 🙂 And if a Southern Boy is the bushwhacker, I am sure it will be an experience to remember, and that Gossip Bench, can talk about for years to come.

Best, Farmboy