ChartDaddy.com

Frequently I'll be at the office and Instead of working, I keep hitting the Refresh button in order to read Turd's Singularly insightful and original Thoughts on gold and silver. Thanks, TF!

(edit: D'oh!)

Nice coast to coast coverage Turd.

Also, enjoy the daily podcasts. I appreciate markets aren't moving much, grains excepted, but it is nice to hear a steady voice in these times where we (at least I) feel like we are in the eye of the storm.

For those worried that the TFMR would be adversely affected, I don't think so.  Seems to still have the intelligent and freewheeling posts.  From men and women with (mostly) good will toward each other.  My non-scientific impression is that more newbies are joining in (not claiming to be an oldbie myself).

For those worried that you are grossly missing out on the daily podcasts, IMHO the paid subscription expands on the TFMR site- perhaps 3-4 times more commentary that what is written.  I think it is a good value for the reasons above, and is a good learning tool for me.

H

Top ten 

TF

Great Chart work - Have a good time tomorrow - thanks for all that you do

Enjoy some wonderful music:

Island Teal......

Yes, agreed, good synopsis. I, too, think he is close to correct. However, there is an anomaly that he doesn't discuss--he said he thinks U.S. still has some dumping-silver. I don't . . . I still wonder why China is allowed to take tons and tons of western gold off the shelf. Why would the U.S. and other western nations allow this? In my view, it must be a quid pro quo wherein China dumps silver into the market in exchange for the right to buy cheap gold. I recall a Fekete or Butler article years ago, wherein the big silver short behind BS/JPM was possibly China as opposed to U.S. government. China was also on a silver standard, and went off it in 1935. Supposedly, it had a huge silver stockpile which may have been surreptitiously used to quell the silver market, by dumping physical whenever needed, after western hordes were gone. Time will tell. The paper world is crashing around us. The big ace has yet to be played.

Repost from previous thread.

I have to say for a number of reasons I bought some also--but not that far OTM. We have the election, geopolitical, Europe, debt ceiling, seasonality,  just to name a few things which could propel metals.

"Why would the U.S. and other western nations allow this?"

I think the gold is being sold, er stolen.  Legally of course.  Why did the BOE sell half their gold under $275?

From Turd's link:

http://www.bullionbullscanada.com/intl-commentary/25687-crime-of-the-millennium

The Code of Hammurabi, more than 3,700 years ago, stipulated that any Mesopatamian who violated the terms of a financial contract – including the futures contracts that were commonly used in commodities trading in Babylon – “shall be put to death as a thief.”

…In medieval Catalonia, a banker who went bust wasn’t merely humiliated by town criers who declaimed his failure in public squares throughout the land; he had to live on nothing but bread and water until he paid off his depositors in full. If, after a year, he was unable to repay, he would be executed…Bankers who lied about their books could also be subject to the death penalty.

In Florence during the Renaissance, the Arte del Cambio…made the cheating of clients punishable by torture…

But financial crimes weren’t merely punished; they were stigmatized…

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This shows how utterly out of control the current bankers and markets have become and how little punishment they receive if any at all.  The contrast is mind blowing!

re: the gold chart.

If I were a true cynic I'd say all the black boxes have be properly prepared for the election and the results are already known by some .  That said, has a bet has been placed in favor of big brown chunks (can't say "turds", can I?  ) hitting the oscillating device shortly thereafter?

Indeed. 

Why would the U.S. Treasury all of a sudden start "auditing" Federal Reserve gold?  Especially when the FR owns no gold--only certificates issued by the Treasury.  No, it's a show--to show the sheeple that yes, by golly, we still own the gold (taken from the people in 1933).

Some commentators say the Chinese want gold to back the yuan, for market supremacy.  I don't think so.  I think the elites worldwide have come to an agreement, that to keep the current financial infrastructure intact and to keep the elite in positions of power, the unpayable debt must be counterbalanced against something, that something being gold.

Once the gold is where the players want it to be, a new wrinkle will be announced worldwide.  Governments will announce they are putting a bid out for gold that will rise to a level needed to easily handle the debt they've created.  Gold could go to FOFOA's $55,000/oz. or to whatever level in fiat currencies they feel will work.

I am not sure where silver fits into this equation.  I do think silver will be repriced much higher, just not sure if governments will bid for it as well, or if marketplace will do it.  Of course, as I've said before, paper gold and silver will be relegated to the trash-heap before this happens.  So, GLD, SLV, futures, etc. will be terminated at or about the same time this big ace is played.

Yet I don't think we have topped in the Pig just yet.......maybe we get a short term drop for a few weeks or so, but rest assured the FUBAR which is the Euro will raise it's ugly head again soon which will IMO be Pig positive higher than the 84 we saw.

So a guy is driving down the road after purchasing a bottle of wine when he spots an Indian hitchhiking.  He pulls over and offers the Indian a ride.  The Indian gets in the car and sees the brown bag on the seat and asks the driver, "What's in the bag?"

The driver says, "It's a bottle of wine I got for my wife."

The Indian says, "Good Trade!"