Three Items For The Overnight
Thanks to all who submitted guesses for the latest hat contest. The contest is now closed. Recognizing you need a new thread for the overnight, here are three things to discuss.
First, Trader Dan doesn't have the time to post every day but, when he does, it's almost always worth your time to read. His post from Friday was fantastic. Below is a chart of his which I lifted from the post. It shows that we currently have a "record" amount of naked spec shorts in silver. Surely, this is a bullish, contrarian indicator and it follows along with the theory I've posited here that The Silver Cartel is methodically shifting the burden of being short from themselves to the specs (sheep). http://www.traderdannorcini.blogspot.com/2012/06/hedge-funds-continue-to-pummel-silver.html

Next, our pal Jeff Nielson has penned a great new article. This time he focuses on the LIEbor scandal. Please take the time to read it. http://www.bullionbullscanada.com/intl-commentary/25570-bankers-fraud-now-too-big-to-fail
Lastly, please take 30 minutes to listen to this program from BBC radio. It is a fair and balanced discussion of the benefits and challenges of a return to "the gold standard". It features two guys with whom many Turdites have become familiar, John Butler and Detlev Schlichter. Well worth your time even though it presupposes that "The West" will have some choice as to whether or not the world returns to sound money. Also, the arrogant AGA at 23:00 almost makes me homicidal. (If an admin can figure out a way to embed this audio, please do.)
http://www.bbc.co.uk/programmes/b01k9qd8
Okey-dokey, that's all for today. See you on Tuesday.
TF
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Comments
Just Missed It...
AU = $1625.40
AG = $28.12
I happened to find myself at the road of many crosses...
You would think that I would know this by now.... that nothing will be what it seems, but I am still amazed how I can turn a corner to find the unexpected both in good and bad ways.
I happen to find myself at crossroads which veer in many unknown directions... the how and when seem to go on endlessly much to my travail. I ponder much this evening, because when nothing seems to be happening... the pause does give a moment to reflect on how much has happened and on what will unfold.
More than Half this Year has been written and the world hasn't fallen apart, yet.... which I must say is a good thing.... but the storm clouds are looming and I see the horseman of the Turning preparing their stampede. I once saw a document, written on vellum, that seemed to contain ideals rarely, if ever, ensconced and forged as the basis for a modern government where the destiny of the one... the many could be written by the labours of their hands... their hearts... their minds. It seems faded now... and trodden under the heels of the wretched and vile who have sought to see the iron of its ink bleached out of the minds entrusted to hold its vigilance.
There are no answers for me in the stars I see and I am left to know that I have been unhinged from the frame which I was placed within.... I stand and the road of many crosses is a question which has no answer...
3rd
Strike 3 I'm out.
Odd - I just went to the previous thread to give a heads-up on the new thread, and I cannot post any comments there - the box to type your message is gone, as are all the posting buttons as well.
If I was being moderated for some odd reason I wouldn't be able to post here - so what gives?
In the for what it's worth column....
Missed my guess deadline by one minute. I just arrived at the beach, and have received my reward!
Just for fun and no hat.
au=1658.21
ag=28.71
RETAIL BUYING PICKING UP....
SILVER EAGLE UPDATE
I previously forecasted that we would have between 2.5-2.8 million oz of silver eagle sales in JUNE. We hit the top end of that figure. The US MINT updated June from the 2,538,000 figure last week to 2,858,000 as of JUNE 30th/ Sat. So, since Sunday, we have added another 269,500 silver eagle sales.
Here is the difference from last year.
SILVER EAGLE SALES
2011 JAN-JUN = 22,303,500
2012 JAN-JUN = 17,392,000 (-20%)
In the first quarter silver eagle sales were down 28%, but in the second quarter sales have picked up and we are only down 20%. This is not as bad as gold eagle sales.
GOLD EAGLE SALES
2011 JAN-JUN = 576,000
2012 JAN-JUN = 343,500 (-40%)
Here we can see that Gold Eagle Sales are down twice in percentage terms compared to silver.
Again, the BIG PLAYERS are buying a great deal of gold at this time. Retail investment demand is only a fraction of the over all buying. I will get into more detail in my US GOLD IMPORT-EXPORT article....
This just showed up....
...at the door.
It's a 1913 in about the same shape except my dates a bit fuller. It's about the size of a quarter and has a nice heft to it relative to it's size. That's my smallest and first piece of Au around 1/2 oz.
It won't be the last
~~~~~~~~~~~~~~~~
Thanks for the update!
and meanwhile...
"Knowledge-Based Education – We oppose the teaching of Higher Order Thinking Skills (HOTS) (values clarification), critical thinking skills and similar programs that are simply a relabeling of Outcome-Based Education (OBE) (mastery learning) which focus on behavior modification and have the purpose of challenging the student’s fixed beliefs and undermining parental authority."
@ SRS Yes. Still Asleep
Thank you for your post. Great info.
Agree the retail 'Johnny on the street' has yet to wake up. It will take another catastrophe to accomplish this.
"The US economic system is about to blow up.
The banking sector has been kept technically alive on the life support of accounting fraud since 2008, but that artful racket is coming to an end because sooner or later the abstraction called "money" must make truthful representations of itself in relation to reality, or else people cease to accept its claim of value."
http://www.kunstler.com/blog/2012/07/hostage-racket.html
Indigo
Thats a fine looking specimen. What company did you acquire that from if you don't mind me asking?????
No
I simply closed the comments on the thread at 5:00, when the contest closed.
And I just approved three
And I just approved three guesses that were made before the deadline, but were not immediately published. So there are at least three guesses not on any list.
BP
Nicely done!
Final answer
You may notice your guess tweaked by a few cents. If it was a duplicate I flipped a coin (new cougars and moose I received today) heads you went down, tails, up.
Per mod Washington a few "provisional ballots" were added.
We had 153 silver, 158 gold guesses.
Deleted
.
Nice job rl999
You should get a hat
for doing all that!
and meanwhile...
"Knowledge-Based Education – We oppose the teaching of Higher Order Thinking Skills (HOTS) (values clarification), critical thinking skills and similar programs that are simply a relabeling of Outcome-Based Education (OBE) (mastery learning) which focus on behavior modification and have the purpose of challenging the student’s fixed beliefs and undermining parental authority."
Good to see they've adopted a Democratic "platform"
Lie-Bor
More ... http://www.bbc.co.uk/news/business-18684089
Dyna mo hum
I bought it from Apmex about 1 week ago. It's a cleaned specimen and I got it for under $950.
And it's about to have it's 100th B-day next year
Even though it won't win any beauty contests, it still has .48375 ozs. of Au and lots of history and rarity behind it. When possible, I'm going to try and buy more and some other Liberties. But the rarity of this coin is cool to realize ....and hold.
There are visible stars going all the way around the edge. What an awesome coin!
Here are some 1913 facts I just found.
The 1913 is very similar in overall rarity to the 1910, 1912 and 1915 and it is relatively easy to find in MS-63 or lower grades. Even in MS-64, the issue is available with some regularity. Gems, although certainly rare, show up sufficiently often that obtaining one is not the extraordinarily difficult task that many issues of this series present. A small number of exceptional quality (better than MS-65) examples of this issue are known to exist, including at least two virtually perfect ones.
The 1913 is typical very sharply struck, and the lustre ranks right up there with the very best in the series. Color varies somewhat but light to medium yellow and greenish gold are the colors most often seen. Some examples also have light rose, orange or coppery highlights. The surfaces have virtually none of the granularity of the 1910 to 1912 Philadelphia Mint issues and can be either fully frosty or somewhat satiny. Top grade examples of the 1913 are among the most attractive of the series.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Frank Zappa warning
Chart
I enjoy the site, for it to be enjoyed by all as a community little things like this need to be done. We self moderate fairly well, and I view the collating as well worth the effort.
I come here because there are contrary opinions and feel that they are necessary to achieve and sustain a balanced mind. I learn something everyday, both from TF and other members.
Regardless of what happens we all have a significant advantage compared to the vast majority that don't have an awareness of alternative views. be it monetary or world.
@ OutlookingIn
That was a great link from Kunstler! Our healthcare system is a giant racket...and we all have to join in. We are screwed on so many different levels.
rl999
Nicely said and thanks again!
@biochar
...and the Republicrats march on. If they don't make you stupid one way, it'll be another.
I just had a rather hideous
I just had a rather hideous idea.
What if the "Spec shorts" are actually direct Fed shorting, in much the same way that they have been suspected of buying treasuries under the table in the past, with their purchases being lumped in with "household purchasing"? If I were the Fed, and JPM was starting to get cold feet, or was experiencing major insolvency issues, I would want to move the suppression I had been funding out of their hands before it blew up. In the past, I had thought it would just be dumped on another bank, but at this point, I'm not sure that there are any good options. Maybe GS. But they might be afraid that they will have problems as well.
This may be a little "out there", and it is certainly unproven, but it seems well within their MO. The implications of this are pretty staggering, in that it would mean that the Fed no longer has any faith in ANY of the banks, which probably means a collapse is near.
It could be small fry, but it seems to me that the market is so thin, and everyone is so freaked out, that there just CAN'T BE THAT MANY PEOPLE WILLING TO SHORT. Who are these people?
I would appreciate anyone else's thoughts on the subject.
@ Admiral Ag Bar
Yes. "screwed on so many different levels."
LOL
I hear ya. Voting isn't wortha shit either. The game is rigged and we are the suckers (debt slaves)
Medicare
From previous thread - answer me one question. If it is such a good deal, why is it not voluntary?
What's in a Name...
So, bam and biochar - you're in favor of various government education programs with fancy names? Send your kids to the re-education school run by Uncky Sham and all is well???
Yeah most of the time
the name of a program - for instance something that "teaches critical thinking" does the exact opposite. The "economic recovery act"and the "patient protection and cost reduction act" come to mind as doing the exact opposite.
I don't know the details of these so I may be wrong, but it would not shock me that they do not do anything like what they say!
One More
The man we all love to hate was recently interviewed for an in depth discussion on the mechanics of the gold market. Although we despise Jeff Christian, it is a good interview. There are tid bits of where the holes (potential fraud) are but you must listen closely. It seems the only reason for gold to exist is hypothecation of currency via futures (regulated, unregulated, otc, dark pool) in order to provide market liquidity. Trouble is, in trading (todays casino's) there is always a winner and a loser and the losers (invariably taxpayers) pay out on those leveraged and exponential losses. STK!
http://www.financialsensenewshour.com/broadcast/fsn2012-0702-1.mp3
My favorite oxymoron act…
…the "Patriot Act".
Kind of like Reagan calling guided missiles "Peacekeepers".