Friday Odds and Ends

A loose collection of things for you to consider on this fine, Friday morning.

We might as well begin with the charts. Look, I know this stinks. It has now been nearly 14 months since silver briefly peaked at $49. Gold has been under attack since early September of last year. It's painful and it's no fun. In the grand scheme of things, it's also irrelevant. In fact, it's beneficial...at least if you've been using this time to increase your physical holdings. There's certainly a lot of angst and nervousness out there regarding future price. Whatever. I, for one, am getting bored with it all. I know (in general) what is going to happen and I know (in general) how this will ultimately play out. The timeline of getting from here to there is the only thing in question. Please remain patient and resolute. You are doing the right thing. Your physical metal is your only financial protection. Don't let the day-to-day machinations of The Bullion Bank Cartels dissuade you.

So, here are two charts. Gold is still simply contained in the same $100 range in which it has traded for the past 6 weeks. Big deal. Sheesh. A couple of downticks and the world is ending. All the AGAs come out and claim that $1300 is next. It's not. Silver is currently below $27 and out of its $27-29 range but, so what. Two weeks ago it was above $29 and out of the range, too. History would suggest that anything below $27 represents a wonderful buying opportunity, not a horrific panic opportunity. Keep your wits about you, please.

One of the themes I'm going to be pounding for the remainder of this year and beyond is the ultimate removal of the U.S. dollar as basis for international trade settlement. I laid out some of the details here: http://www.tfmetalsreport.com/blog/3866/dot-connecting. Well, ZH has posted this morning an excellent summation of all the recent headlines in this area. You should check it out. Again, I'm no genius. I'm simply paying attention. Even the late Jeff Healey could have seen this one coming from a mile away.

"When the US Dollar is ultimately dethroned as the world's reserve currency (and finally gets rid of all those ridiculous three letter post-Keynesian economic "theories") nobody will have seen it coming. Well, nobody except for the following headlines: ""World's Second (China) And Third Largest (Japan) Economies To Bypass Dollar, Engage In Direct Currency Trade", "China, Russia Drop Dollar In Bilateral Trade", "China And Iran To Bypass Dollar, Plan Oil Barter System", "India and Japan sign new $15bn currency swap agreement", "Iran, Russia Replace Dollar With Rial, Ruble in Trade, Fars Says", "India Joins Asian Dollar Exclusion Zone, Will Transact With Iran In Rupees."

http://www.zerohedge.com/news/usd-trap-closing-dollar-exclusion-zone-crosses-pacific-brazil-signs-china-currency-swap

And this is interesting. Our pal, Chris Powell of GATA was on CNBC Asia overnight and he was actually allowed to discuss gold manipulation. In the brief amount of time he was allotted, Chris did his usual fantastic job of laying out the rationale of why gold is manipulated and by whom.

http://video.cnbc.com/gallery/?video=3000097894&play=1

And, lastly, this is fun. Yours truly was interviewed last evening by Rahul at http://www.altinvestors.com/. It's only about 15 minutes long but we covered a number of topics. I hope you find it helpful and interesting.



Well, that's it for now. The CoTs today probably won't be very exciting but I'll update you with my opinions later, regardless. Have a great day and a relaxing weekend.

TF

280 Comments

rocoach's picture

I won't say it

Happy Friday!

thesandbox's picture

Bacon

bacon

Dr G's picture

Thurd.

Thurd.

Like he says, all this is irrelevant in the grand scheme and this is the time to add to the stack. Right he is.

The Chris Powell video is neato.

CNBS: "Is the manipulation in gold getting better or worse?"

Chris: "It's as steady as ever."

Magpie's picture

Ha!

Hi, Adman!  devil

FriendOfTheDevil's picture

2nd

Woop! Great time to buy people : ) ... Stack Stack STACK!!!

EDIT:: doh! I suck ... Hey, at least Im stacking to the roof! (Or until the floor gives out, whatever comes first)

rocoach's picture

Great time to buy people

I thought slavery was abolished some time ago?

my mothers keeper's picture

investing in precious metals

i've found that investing in precious metals means months and years of fruitless boredom and disappointment and self-doubt bookmarked by tremendous weeks of unbelievable excitement and some fear...

dropout's picture

The American Dream

We miss your insight, intellect and wit George.

~ George Carlin May 2, 1937 - June 22, 2008 

ReachWest's picture

Podcast Site

Good stuff - thank-you, Turd.

Can you give us an update as to when the new Turdville pay-to-play podcast site is likely to go-live? Looking forward to it!

Wizard's picture

Thought for the day

Hence, when able to attack, we must seem unable; when using our forces, we must seem
inactive; when we are near, we must make the enemy believe we are far away; when far away, we
must make him believe we are near

my mothers keeper's picture

calm before storm?

are we simply lulled in the calm before the storm?

per "calculated risk," (an excellent blogger, btw) you have until 1 august to do whatever buying of whatever precious metals might be in your future.

http://www.calculatedriskblog.com/2012/06/bernanke-paves-way-for-qe3-on-august.html

¤'s picture

USD being shunned and swapped out

Thanks for all of that TF.  You've been a busy man I see.

Have a great weekend!

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

I just saw that ZH article on Brazil and the currency swap agreement and all I can say is that were clearly in the slow motion day-to-day moment of the USD dominance starting to wither away and the Chinese yuan becoming more and more integrated.

Once SWIFT starts it might just hasten the process exponentially. Something's got to give somewhere and with Iran currently losing approx. $90 billion a day before SWIFT even starts just imagine what the figure will be afterwards.

China is going to fill in the USD gaps through increased trade  via renimbi whenever possible. I think capital inflows into China will become a torrent in due time and start to mimic the US capital markets in their heyday. Time will bear this out.

Reserve%20Currency_1_0.png

http://www.zerohedge.com/news/usd-trap-closing-dollar-exclusion-zone-cro...

Dagney Taggart's picture

Raid the LCS

This is honestly one of the dumbest things the EE could do in their drive for world government:

Give the people a massive discount on silver on a friday afternoon / saturday.

tpbeta's picture

$26 Silver

It's a quadruple bottom fercrissakes. What more do people want? If you don't buy here, you won't buy anywhere.

latcho's picture

For some reason I CAN SEE !

...where this heads  :)


 

Turd Ferguson's picture

Thanks, RW

MODERATOR

It is finally finished and we will open it on Monday!

Final preps and some PR being done today. Thanks for your support. It's going to be great fun.

Response to: Podcast Site
Dagney Taggart's picture

@rocoach

Depends on whose Constitution you are referring to:

- United States Constitution 1787

- Federal United States Inc. Constitution 1871

This isn't a joke.

S Roche's picture

@lostintheflood

Thank you, I used to read CR every day...he is very thorough and really quite conservative. I am bookmarking that one.

Here is LitF's link: http://www.calculatedriskblog.com/2012/06/bernanke-paves-way-for-qe3-on-august.html

JimmyTheHand's picture

Hey Turd

I hear ya' man.  Bored with it myself.  I just stack on a regular basis, using physical silver/gold instead of putting money in a negative interest savings account.  Looks like this paycheck is going to add a little more to the stack than usual.

If the DJIA keeps dropping 250 a day like it did yesterday it won't be long until people are singing the Happy Silver song again because Benny will swoop in to CTRL+P the day...

Turd Ferguson's picture

Again, let me state this as clearly as possible

MODERATOR

Paper silver is currently $26.70.

It may soon go to $26. It may not.

It may soon break $26 and trade to $23 or even $20 for a brief, few days. It may not.

It doesn't matter.

It is going to be an explosive and crazy summer (June 21 - Sept 21).

Silver is going to be much, much higher by later this year.

Pay no attention to paper price.

You don't have to buy any more if you don't believe me. Just don't sell, for crying out loud.

¤'s picture

Hat Tip TF...

...like crazy today.....just becuz'  angel and to show appreciation that we've come to rely on.

Lots of time and energy is going into what he does here for all of us.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

TF Metals Report is supported by voluntary subscriptions and donations. DONATE TODAY!

Lanikai's picture

Scotia Mocatt: Silver to $18

if $26 fails: http://goldnews.bullionvault.com/gold-prices-062220121

And why not in this climate of twist, swap, and US Treasury blackhole fraud of counterfeiting.

Dagney Taggart's picture

@tpbeta

Although the LCS is MINE later today and tomorrow, I still say the EE guns the stops to $25 and $1500 for a GSR of 60. Doesn't matter in the end though. They are going down and they know it.

When is world going to run out of Nero-type psychopaths?

silver foil hat's picture

I'm sure the author of the last thread's link didn't mean this

"Bitcoin can be thought off as a cryptographic commodity. Individual Bitcoins can be created through a process that is called ‘mining’. It involves considerable computing power, and the complex algorithm at the core of Bitcoin makes the creation of additional Bitcons more difficult (and thus more expensive) the more Bitcoins are already in existence."

If you don't hold it, it doesn't exist.

Especially "One Second After".

Freudian slip? Or a warning?

Turd Ferguson's picture

That's a bold call for a bank

MODERATOR

That's a bold call for a bank with no silver to sell.

Seriously, call them today and tell them you want an order in size. Not a tube of eagles. SIZE. Tell them you need a couple hundred thousand ounces by next week. See what they say.

Bugzy's picture

Good podcast

Enjoyed it.

B

Dagney Taggart's picture

Silver to $18?? Seriously?

Does anyone honestly believe Eric Sprott or Hugo Salinas-Price is going to let silver go to $18?? The comex would be dryer than a $10,000 hooker at 4 AM.

Seriously?

EDIT: Or as Turd said:

That's a bold call for a bank with no silver to sell.

Seriously, call them today and tell them you want an order in size. Not a tube of eagles. SIZE. Tell them you need a couple hundred thousand ounces by next week. See what they say.

Monedas's picture

What America Means To Me !

She is and always will be my Bacon of Freedom !  I lift my lamp beside the smoke house door !  I want to lose my face in her hanging hams and loins and tickle her ribs with my snout !  No canned bacon and ham for this country boy !       Monedas      1929      Comedy Jihad Frivolity Trumps Doldrums      devil

sevin's picture

TITS

Turd, what is the TITS indicator looking like right now? It can't be too good.

So It Goes's picture

Tulving

Last night Monster Box of ASEs sealed sold for $14,765 - $29.53 each.

Not bad at all IMHO.

Get friends to split it up if it is too large - then go for a canoe trip.

Keep stacking.  The light at the end of the tunnel is a train.  :-)

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