Memorial Monday

It's Monday evening. "Memorial Day" here in the U.S. The unofficial beginning of summer but also the one day we Americans set aside each year to remember those who lost their lives in battle. This post is just a couple of items before we start the week.

First of all, the late Friday Globex action had me worried about tonight's open but we seem to have survived. As I type, gold is up almost $10 and pushing $1400. Very nice. And silver is up, too. Let's not get carried away as no doubt the London-based Monkeys will likely try to beat things back once the get in about 6 hours from now. Regardless, a move toward and through $1400 would be very nice so keep your fingers crossed.

I never did type up much on this week's CoT because, frankly, there wasn't much to get excited about. The only item of interest is the continued narrowing of the silver commercial net short position. The everybody-but-JPM crowd added another 1000+ longs last week while covering about 250 shorts. This dropped the commercial net short position to just 11,926 contracts and reduced their net short ratio to a miniscule 1.18:1. WOW!

I posted the Riff-Raffle drawing video on the previous thread but for those who haven't seen it, below is the list of winners. Tomorrow, I'll be contacting all of the winners by email and connecting them with the prize "donators". From there, both parties can work out the easiest way to connect and distribute the prizes. In random order:

$40 money back: Monty M.

VIP Prohillbilly: Occasnltrvlr, Curtis. B, Jon H, Alex C, David N

1 ASE and 3 Buffs: Bob R.

"Pilot" silver coin: Tim T

The one-year supply of ginseng: Stephen W.

Tube of 20 Buffs: CalLawyer

1lb of Held's Jerky: William B.

HatTrick Subscription: Stephanie C and Tyler B

Autographed Ruler and Sharpie: Greg C, Kurt F and Jill G

BrooksBros Shoes: Kim F

Jelly of the Month: Tom D

Legal Help from CALawyer: David B

Silver Panda: Mike

Hillary Nutcracker: Occasnltrvlr

$22 Turd Hat: Dan F

Pining-designed avatar: Stuart G and Dan S

Bollocks' bar: Richard P

Gold Phil: Charles K

Gold Maple: Antonious O

Troy Standard book: Dan S

$10000 gold book: John L

Glenn Beck book: Tim C

Ellis Island coin: Brian L

Bacon of the month: Don B

1/2 ounce Wolf coin: John T

3 SBSS coins: Greg C

16 coins: Scott P

2 Canadian wolf coins: Brian L

Autographed Turd Hat: Tim G and Antonious O

Liberty Walkers: Richard K

Silvertowne Bar: Dave D

Kitco bar: Roger B

Swiss Army Knife: John W

5-ounce First Maj bar: Simo H

Farmer silver coin: Chris K

Cellphone flask: Ron A

Hammock: Stephanie C

Turd/Santa signed hat that started it all: Tyler B

Lighthouse coin: Bob R

11 Ben Franklins: Steve O

Gold chain: jklehe

I think that's everything but I'll double check.

Moving on, my good friend "The Colonel" sent me the newsletter below. It's the "May Intel Update" from USAA, which is the family of mutual funds offered to all U.S. military personnel. It certainly qualifies as surprising and interesting reading. Whoever wrote it is obviously a closet "Turdite".

Finally tonight, just a little bit more on this American holiday called Memorial Day. Most countries set aside a day to celebrate their war dead and, for Americans, it's always set on the final Monday of May. Look, I'm not going to go into war and fascism and banksters and all that jazz. I just want to take time today to consider the ultimate, selfless sacrifice made by so many on behalf of their fellow soldiers.

The most poignant thing I can show you is this: The final scene of Saving Private Ryan. If you don't recall the story of the film, it centered upon the post D-Day search for the sole remaining, surviving member of a family of fighting brothers. A squad, led by the Tom Hanks character, is sent to find this guy and extract him safely from the battlefield. In the process, nearly the entire squad perishes but "Private Ryan" does, in fact, make it out alive. The clip begins with the death of the Tom Hanks character and ends, some forty years later, with "Ryan" back in Normandy. If this clip doesn't leave you sniveling, you need to check your pulse. Powerful stuff.

http://www.godtube.com/watch/?v=0BF1CMNU

Thanks again for making this site possible. I look forward to a very interesting week ahead.

TF

 

 

 

164 Comments

philipat's picture

First

First!! Strike one and dedicated to all Asian members in the +12/13 time zone.

Zoltan's picture

Second

Hate on Haters.

Z

Mr. Fix's picture

Thank God for a new thread! (You too Turd)

I never would've expected one this late on a  Monday night, but heck I'll take it.

Third. smiley

Off to watch TV now, I'll get back to this later.

prius_driver's picture

I dunno, I don't like the action at all

we'll see what happens overnight.

waxybilldupp's picture

Good grief!

Read the Turd-o-gram, had to log in and still came in thurd.  Freakin' awesome!

Eyes open; no fear ... wax off

edit:  All of a sudden, I'm suckin' wind at fifth.  Aw, who the hell cares.  Spent a great weekend with my bride of nearly 30 years, my #1 son, my awesome preggo daughter and her marvelous husband.  Caught the hell out of crappies and northern pike for 3 days.  Had an awesome fish feed last night.  Just vacuum bagged 11 meals of fish.  Everything is cleaned up and put away.  Just waiting for dinner to come out of the oven.  Life is good. 

The only thing lacking was my name on the prize list.  Didn't expect it, so nothing lost.  The Riff-Raffle was amazing.  Gold Dog is an over-achiever.  (Hmmmmm, seems to be many of them here in Turdistan.  I like it here.

wax off again

Dagney Taggart's picture

It's Been A While

(hiccup)

lone's picture

memorial day

"SOME GAVE ALL"
i sometimes wonder how many of us realize this.to all those in the USA who have lost someone in the military u have my prayers with you.

lone

wildstylechef's picture

top 10

ya its a 2006 to present top blue longs bottom reds shorts

Turd , Question on the big hoopla on all time high on hedge funds puts of 74916 and how its going to effect the market. Some saying short squeeze others more downside. Hedge funds are still net long by  35686. As I see it the commercials have been unloading their puts on everyone else including the hedge funds. their shorts are no massively down but their longs are 15% up and 14% up on total market . To me this says they are setting up for an upswing. thoughts?

And a big thanks Turd for the work, dedication a giving and caring what goes on in your and our world

Cry Me A River's picture

Nikkei, Gold, Silver Update

It's Almost Lost All Of It's Gains---BTW---This Chart Updates Automatically On Each Page Refresh Here---So---It Can Be Looked At Later For An Update By Anyone. The Level Isn't updated, but at least the relative level in relation to it's previous close can be measured:

14,156.93     +14.28 ( +0.10%)

Looks Like We Have Some Slight Raiding Going On In Gold And Silver:

waxybilldupp's picture

@lone - Some gave it all

I heard a number today.  Since the Revolutionary War ... 600,000.

That's a lot.  Thank you all.  We would not be here otherwise.  Well, we would, but the landscape would be considerably different.  Would it be better or worse?  By what measure?  Sounds like fodder for a science fiction/future history novel.  Xty, get on that.  You're the Turdite with the writing skills to pull it off.  Being a Canuk might be an advantage ... less jaded by our current situation.

Eyes open; no fear ... wax off

Cry Me A River's picture

Gotta Go-- CYA Tomorrow!

Elwood And I Are Heading To The Mall---There's Two New Stores!

TJeffson's picture

Waxy

More like 1.3 million.  625,000 in the civil war alone.  Another 400k in WWII.  

I think we'd be a lot better off had we not gotten involved in most of those wars.  

The Watchman's picture

SGE Is Still Getting No Gold To Deliver

Shanghai Gold Exchange (SGE)

  • Shanghai Gold Exchange (SGE)" Price - Daily, Au(T+D):

    • 27 May 2013 Close:

      • Au(T+D) Volume: 13.6 tons of gold, a change of -65.1% from previous close.

      • Au(T+D) Open Interest: change of 2.1% from previous close.

      • Au(T+D) Delivery Volume: 0 tons of gold.

      • Au(T+D) Close: $1419, a change of 0.5% from previous close.

    • Peak One Day Au(T+D) Volume: 115.1 tons of gold, 16 April 2013.

    • Peak One Day Au(T+D) Delivery Volume: 35.7 tons of gold, 22 March 2013.

    • Current Month Au(T+D) Delivery Volume (sum of daily figures): 0.3 tons of gold as of 27 May 2013.

    • Peak One Month Au(T+D) Delivery Volume (sum of daily figures): 328 tons of gold, March 2013.

    • Shanghai Gold Exchange Au(T+D) Delivery Volume, past years:

      • 2012: 2,379.6 tons.

      • 2011: 1,897.8 tons.

    • Since the week of 26 April, the Au(T+D) Delivery Volume has dropped off to virtually zero while the long term daily average is more than 8 tons per day. The last time the SGE had a similar period of virtually zero Au(T+D) Delivery Volume was back in January 2011, a month that saw 21 days with less than 1 ton of Au(T+D) Delivery Volume per day. The physical significance/interpretation of the April/May 2013 and January 2011 drop off of Au(T+D) Delivery Volume is unknown but IMO is worth further investigations. With further data and future market developments, the working meaning of "Au(T+D) Delivery Volume" should become clearer.

GuerrillaCapitalist's picture

REPOST A Somewhat Expected Rant

I had to take a break from the festivities, so I snuck my laptop down to the fire for this very reason.

Since Mayor Turd gave us a brand new thread with which to play and one that fits my rant a bit better I'm replaying an old tune.

My fellow Turdites:

As some may have noticed I tend to hold tightly to the reputation of a curmudgeon.

I have to be brief, my son just called from the pig roasting post that the party was heating up and I was under lawful orders to appear post haste. He did tell me if I disobeyed his lawful order he would send a "The Cousins", four beefy ex-military thugs that wouldn't mind hogtying me and dragging me to the fire and the kegs.

Memorial Day this year is more about the untold suffering the American empire has foisted on the entire planet than just the ultimate price paid by our warriors which include women and civilians caught in the jaws of the monster.

Since we're both combat veterans, we hold a rather serious view of what bloodthirsty price was paid for the land and treasure of our victims, especially the non-combatants like the Papa San and his water buffalo that got in the way of our machine gun fire, the elderly, children and women left homeless and or dead as villages were torched. You get the point.

Here's a piece I'd like all to read and it will tell my story for me. It's from Reader Supported News  and quotes one of my honest to god Heroes, H.D. Thoreau. 

http://readersupportednews.org/opinion2/277-75/17629-focus-should-memori...

Now I'm going to have a few drinks and howl at the moon. Be safe and well one and all.

GuerrillaCapitalist, Colonel, US Army (retired)

Occasnltrvlr's picture

Memorial Day Always Makes Me...

...so sad.

I do not know the courage and fortitude required in combat.  I see it, I know of it, and I stand in reverent awe.

But may Almighty God damn to eternal Hell the evil that incites the wars and battles into which the brave charge.

waxybilldupp's picture

@TJ

1.3 million.  That's more than a lot.  I'm thinking the source of the number I heard probably didn't include the Civil War since it was on "home soil".  In any event, war bullshit ends up costing a lot of folks their lives.  I don't approve.  Notice that the Civil War deaths were about equivalent to almost all of the OUS deaths.  That's one reason the DHS makes me nervous.  Hollowpoints for "crowd control".  Really? 

Eyes open; no fear ... wax off

philipat's picture

Memorial Day

I always have mixed feelings.

On the one hand, I abhor the arrogant greed of the Military/Industrial complex and the TPTB, the aggressive US overseas policy and imperialism in general, and for putting so many mainly young kids, mostly from the lower classes, in harms way for no good reason. I lost both of my Grandfathers in WW1 and was lucky not have lost my father who flew Lancaster Bombers in WW2.

Questioning policy is one thing but the  the unquestioning loyalty of these same kids and their willingness to sacrifice all to serve their country is another thing entirely.

They deserve our deepest respect and unreserved gratitude. And I think it speaks very well of any society that can put its differences aside for a day to show respect.

SilverSurfers's picture

Status

Have attack plan, 3rd Edition, looking for 6m$ for 6mo to take down manipulator, and sure there are problems, first offering 2x 18m$ in one year, so, at least it enters the business world, and gold heavies dream time, and news like to stay on top of thinks, and politician want to be re-elected, and have put out notices there, so that is the pool of possible investors and leads. Some have been transmitted, and that is in process, and here, like lighting the light bulb, tfmr is a total info rush, and made it happen, and now the repeat performance, so, presently scanning threads for leads to send teasers to invest in the shoot out of all time. TBTJ is a freakin joke played on us all. That shits stops now.

The approach is a system engineering one, not a typical VC hunt using the menlopark VC boys, been there, done that. Sure the draft is a difficult read, but if someone first gets it, read it, comprehends it, then that one would be considered as a serious player, which to does rules out most of those at TFMR, so far, but you never know, surprises can happen,

If you all can post letters from investment houses, or videos of such, or from gold heavies, that would be much appreciated, as I will pick it up as a lead, regularly scanning threads, as a VC hunt, at least. Investment houses and big gold heavies should have teams qualified to review, and hence the more likely to get it, totally.

Some may ridicule, for whatever reason, I strive undaunted, as best able, using the thinker, as best able, one man's best, under the circumstances, following a dream, to shut down the manipulator, but now at least, there is a real documented attack plan in hand, and that, not to long ago, was in fact only a dream.

Spent 3 weeks since brainwave 4/29/13 getting attack play together, another week getting the VC hunt system down, and so, the VC hunt beings in earnest this month after memorial day.

Occasnltrvlr's picture

About the USAA Update

I work for a very large financial services firm.  I'd be even prouder of it if they had the courage to lay out the facts as bluntly as USAA did.

Utilitarian's picture

Dmitry Orlov's The Five Stages of Collapse: Survivors' Toolkit

He is out with his new book just released.  http://www.amazon.com/gp/product/0865717362/ref=as_li_ss_tl?ie=UTF8&camp=1789&creative=390957&creativeASIN=0865717362&linkCode=as2&tag=chrismartenso-20

Taken from Peak Prosperity’s review of the book:

This new book assumes that global industrial civilization is on a collapse trajectory, and he doesn’t waste any ink on arguments trying to prove that. Rather, Orlov lays out in detail exactly how the process of civilizational collapse may actually happen. For many readers and observers, the prospect is often conceived in narratives of Hollywood-style apocalyptic melodrama with some kind of sudden chaos driving the story. Orlov avoids that tripe and instead presents a clear declension of proceedings that unfold naturally and comprehensibly in a certain order — like the progressive organ failure that doctors encounter in the intensive care unit.

Orlov calls his method “a taxonomy of collapse.” The point of the book, he writes, is “(n)ot whether collapse will occur, but rather what it looks like, what to expect and how we should behave should we wish to survive.”

"Reinventing Collapse," was a great read and maybe a shock to some, but for my current interest this book is a gem.  Then again when I read through the postings on the TF site, many times I feel like you already know it and this slow serf is still attempting to prepare and understand.      

FYI  -  USAA used to have Contra Fund (it was one of there large funds back then, not sure now)   that always held about 15% gold, then by the early 90s they dropped the ratio to 10%.  Then sometime during the early or early/mid 90s they dropped gold from the portfolio. 

Occasnltrvlr's picture

Dear Mad5Hatter

I sincerely wish you the very best in your endeavor.

But please understand that, today, this day, "VC" carries an entirely different meaning.

Igiveup2's picture

Memorial Day

I am a Viet Nam veteran.  I remember the 1st time I visited the Viet Nam Memorial in Washington.  I was not a combat vet so I was probably as humbled as most who visit that memorial.  However, as humbling as that experience was, I had the most humbling experience of my life three weeks ago today.

Three weeks ago today I stood on Omaha Beach in Normandy.  I was in awe.   I tried to imagine what it was like for all those men on that fateful day but to no avail.  No one’s imagination is that good.

Later that day I visited the cemetery at Colleville-sur-Mer right next to Omaha Beach.  I had to have been standing feet away from where that final scene of Saving Private Ryan was shot.  There are no words to explain what it is like to stand amongst the headstones and imagine the fear, the suffering and the carnage that these men witnessed in their final moments. 

War is the greatest plague man inflicts upon himself.  Soldiers are the ultimate victims.  Remember them, every day, not just today.

Spartacus Rex's picture

A Very Blessed Memorial Day...

To All Who Served, Sacrificed, & The Ones They Left Behind!

Patriot Family's picture

I used to work for USAA - Their Members Trust Them

I used to work for USAA and saw much of it's inner workings from the customer service side and understand the mindset of some of the executives.  Wish I could go back - they are truly a top-notch company (I just needed a higher paying position for family financial needs).  They do what's in the best interest of their members.  In publishing this piece, they are clearly making a break from the standard financial institution mantra of "everything is fine with the economy, just look at the government data!".  This would have NEVER seen the light of day without General J. Robles' sign off.  If someone from JPM or Citi tried to send out something like this, they would be fired or crucified for doing it before the sheeple were adequately fleeced.

The good news is that a significant number of our country's military and probably many elected leaders hold USAA accounts... and they TRUST USAA.  If that's the case, you should expect the basics of what's laid out in the USAA letter to really hit home and spark a lot of questions.

Maybe I should send my resume in and try to get back in the door :).

Heart's Yours's picture

Great Deals at Provident

Provident has some great deals running right now (even on small orders).  You can get one ounce silver philharmonics in ANY quantity for $2.49 over spot and one ounce silver Canadian Maples in ANY quantity for $2.99 over spot.  You usually have to order at least 100 or 500 to get prices like this.......good on any size order.  They also have Canadian gold maples for $34.95 over spot.  There is a provident link at the top of this page under the store tab and then click the turdmart precious metal store link, and then finally the provident ad link. Click through there to place your order to help this site and add to your stack at lower premiums.

Thanks again to Gold Dog and the other generous prize donors for the raffle and for Turd and LT for the great, entertaining video.  Keep stacking.  If you don't possess your metals, they are not yours.

heart's yours

¤'s picture

margaritatime...continued from 4 threads ago....

...in "Ebb and Flow of Funds"....

I'm not all Mad Max in my beliefs as much as it might sound. Far from it actually.

However...it's a little hard though to ignore all the military pieces moving around or the posturing going on with all the tensions and old animosities in play. I see a greater MENA war with a possibility of some Korean/Japan/ China nexus possible. I wouldn't discount any of that moving forward.

Like yourself, I also believe that it'll take quite a bit to knock off the USD. I see the USD being around and important for quite awhile. My comment more or less implied that it'll be Japan imploding and taking one for "the team", thus insulating the US to some degree. I'm not so sure that Japan isn't teetering right now and unsure how to proceed. 

I also think the new golden $100 USD will eventually imply something as we move forward. We agree on that aspect.

My guess is that it will one day imply a gold backing. I'm not totally convinced about this West to East gold migration to the degree stated. No one really knows for sure. I do not see the US leaving themselves that vulnerable with no plan B.

Time will tell regarding all of the current scenarios out there how this all plays out....including all the evil/ hell & brimstone and almost other worldly intended plots etc. I read about.

Part of me thinks the Fed is merely going to quietly buy up as much long term debt as possible (and over time most of the paper China holds) and then retire most of the outstanding US debt in a massive and quiet (black book) write down all the while they blatantly monetize the continuous short term debt like now.

I'm pretty sure that would work.

If (or when) gold appreciates greatly in value I think it possible the US could go to a gold implied GFRN that they'll insanely leverage relative to the amount of gold they actually hold ( that no one will ever be allowed to accurately audit).

Pretty sure it'll get surreal at some point....moreo then now in our current QE/ (non)debt ceiling environment. 5 years ago no one thought we (or others) would be engaging in the policies that CB's are currently managing.

Just imagine 5-10 years from now? We haven't seen anything yet.

Go long on all "medicinals and necessities".

 
BagOfGold's picture

Oh no!...I heard a rumour that the short squeeze...

has been postponed!...Please say it isn't so!!!...

Oh no!...
 
 
 
Bag Of Gold
 
 
 
 

 

El Gordo's picture

Prize list

I watched the video of the drawing for prizes and just assumed that mine had been edited out, but in reviewing the list, I still don't see my name listed.  What's up with that?

Turd Ferguson's picture

Did I miss one?

MODERATOR

Pls email me

sorry

Response to: Prize list
Occasnltrvlr's picture

I Still, Vaguely, Remember...

...watching the draft lottery on live television.  I was very young, but not too young to feel the tension emanating from the adults around me.  I don't remember ever hearing "Oh, thank God" in my ears, but I could feel it, strongly, inside.

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