Fighting The Criminals

Tue, Jul 19, 2011 - 2:45pm

 Let's start with an oldie but a goody. Just a reminder that we've been here several times before:

I hope you were able to check the very important update I posted this morning to the previous blog. If you missed it, here is one of the main points:

"The Evil Empire is trying their hardest to raid today but with copper, crude, stocks and grains all up, they're just not having any success at all. IF everything else can hold onto their gains for another hour or so, the EE will be forced to retreat to another day and the PMS will roll back up toward their overnight highs. Don't get ahead of yourself, however. The Forces of Darkness have accidentally "tipped their hand" this morning with the ineffective raids. This only means they are certain to try again as soon when conditions seem more favorable on their end."

I must admit that I figured they would wait until tomorrow but, of course, conditions are most favorable on The Globex when you have the entire battlefield to yourself. Doesn't matter really. Please understand that this was all coordinated. Obama talks right at 1:30 and the PMs are raided at 1:32, right after the pit closes in New York. This is not coincidence! Trade the PMs long enough and you will learn there are no coincidences. Never forget that these markets are manipulated for a reason.

As stated above, the EE tipped their hand this morning. They didn't anticipate the rallies in copper and crude which made their raids in the early morning futile. So, they just wait around until everyone goes home and they use O'bottom as cover to unload a bunch of metals contracts on the thinly-traded Globex. Same bullshit manipulation, different day.


They've now successfully painted an "Outside Reversal Day" on the daily 24-hour charts, too. This is not as important and significant as having one on the Comex chart but it is certainly a troubling development, nonetheless. From here, we'll need to look for a support level from which a couple of FUBMs can be built.

Silver is back under 39.50 and I have a last of 39.29. It needs to halt the slide here and get back above 39.45...pronto. IF it can, it should be able to rebuild and move back over 40 by later this week. IF not and Blythe is not finished pounding away, it could tumble all the way to 38.25 or so before catching a strong bid.

Gold is much the same. It's taken a beating but it should find stronger and stronger bids the closer it gets to 1580. Only a move down through 1578 and a close below there should give anyone pause to reconsider their longs.

I just want to close by saying "FU to Blythe. FU to JPM. FU to The Bernank. FU to O'bottom. FU to all TPTB". We know your game. You don't frighten us anymore. Your desperation only shows your weakness. You are losing. We are winning. It's only a matter of time.


About the Author

turd [at] tfmetalsreport [dot] com ()


StartThePurple · Jul 19, 2011 - 2:51pm

The End Game

We all know what the end game will be. In the meantime, for those of us stacking physical, I don't mind the EE attacks short term - they provide buying opportunities!

flaunt · Jul 19, 2011 - 2:53pm

Excuse to take profits

This may have just been an excuse to take profits after the strong run recently. Fundamentally, a deal on the debt ceiling is positive for gold and silver due to inflationary pressures. No deal on the debt ceiling is also positive since they are also "safe haven" assets. It doesn't make any sense, but then nothing has made much sense lately.

Spoofy · Jul 19, 2011 - 2:54pm


It's sickening what goes on in the PM markets.

Bunch of shitbags.

Swift Boat Vet · Jul 19, 2011 - 2:54pm

Right On Brother Turd

I second that emotion!

Shill · Jul 19, 2011 - 2:54pm

The market

This market has no depth.

Top Investment Bankers, who control the market are playing it either way (UP or DOWN) to make profits for themselves by playing up or down various news that will have an impact on the market price.

All news are generated to help them play the market the way they want the market to move.

It is a dead market with no realfree-market players and no real VALUE to realize!!

Nigel Black · Jul 19, 2011 - 2:56pm

The way I see it, they just

The way I see it, they just gave us an opportunity to buy more PM's and good quality miners at a discount. Unfortunately, when the financial system blows up, the EE's manipulative actions just ensures it will be incredibly messy and painful.

God help us.

metcoalfan · Jul 19, 2011 - 2:59pm

No worries

Periodic culling is healthy for the herd.

This Gangbang of 6 plan is impressive. "Chained CPI" using upper level substitution almost makes spam look like a T-bone -not that I'm against reigning in the various program it may very well apply to - just impressed that they found such a beautiful name for it. 'A rose by any other name would not smell as sweet'. Likewise, on the revenue side, 'broadening the tax base' while lowering marginal rates and eliminating AMT - I'll take it!!!! - but I still have to snicker at the letters behind those who are praising the plan. And not but last least, kicking all but the token 500 billion 'deposit' of reduced future increases 6 months down the road - bloody brilliant. Well done DC. /sarc off

tmosley · Jul 19, 2011 - 3:00pm

All this manipulation only

All this manipulation only brings us closer to the endgame. Embrace it. BTFD. Physical only. You will be glad you did.

bacala jones · Jul 19, 2011 - 3:03pm


Video unavailable
Eric Original · Jul 19, 2011 - 3:05pm

Forward from the old thread-hat tip discussion

Did another classic thread ending post. Here's a copy:

We already had this discussion once in the forums.

I stated on that thread that I had never self tipped, and Stephanie confirmed it. It's still true. That being said, it's been an interesting personal journey. I went from not caring, to sort of caring and trying to drum up tips, to not caring again. At first it wasn't clear if the leaderboard was monthly on a calendar basis, or what. Now that I've seen numbers go down I realize it is a total for the past month running at any given time. Whatever. Like I said, I'm back to not caring and I think that's the place to be. I'll keep doing what I'm doing and if people like it, fine. If they don't, fine.

It's all pretty silly anyway, because I've noticed that you can actually garner a lot more hat tips with jokes, pictures, and videos than with anything substantive. I'll tell you right now that if I really wanted hat tips I could get more with 5 minutes work finding a funny video than I could get with 10 hours work researching stuff for my Gold Miner thread. So be it. If they get rid of it altogether it would be fine with me.

And now that I've posted this one twice, I'll get twice the tips!! Woo Hoo, big F'n deal. It's just that anytime people start complaining about hat tips I take it kind of personal since my friggin name is right there on the board.

silverwood · Jul 19, 2011 - 3:06pm

General stock market up, mining shares bashed!

This is MOPE at its best! DEBT ceiling debate will be solved with the printing press option. So to blow out some smoke and mirrors precious metals and mining stocks will be taken down hard. Watch all the seasonality weakness callers come out to explain the coming weakness in PMs. Physical buy op coming in August.

SilverTree · Jul 19, 2011 - 3:09pm

I always drop a quick "." and

I always drop a quick "." and then edit the comment at my leasure. 

agauinvest · Jul 19, 2011 - 3:09pm

SilverTree's 3:04 pm post

Might be the most intelligent statement I've read all day anywhere! wink For the first few minutes, the picture didn't show up on my screen. 

pailin Eric Original · Jul 19, 2011 - 3:10pm
pforth · Jul 19, 2011 - 3:10pm

Dang, new lows...

Hope we aren't heading into waterfall part 2.....

FFF · Jul 19, 2011 - 3:11pm

Looks like I caught the end of the last topic, so re-posting her

Sir TF has, today, defined my new handle!! I had several ideas in mind, but have been patiently waiting for a defining moment. Today is the defining moment day!!

TF's post "Fuckers. Fraudulent, criminal fuckers." (FFF) now provides definition to my handle!

I have been lurking since the FFF (Former Ferguson Forum). Not knowledgeable enough to speak out and post solo, but I did want to take this opportunity to thank TF and the posters on this blog!!

One more time: Fuckers. Fraudulent, criminal fuckers.(FFF)

I have only been stacking since $33 silver, but without the encouragement of posters to take advantage of the sale prices, I would never have raided my IRA's and bought hand over fiat!! (or is that supposed to be hand over fist?? LOL).

Forwarding certain posts to my wife of 35 years has helped to enlighten her as to why I have raided my IRA's. She still can NOT believe there is so much evil in the world as to bring down the USA!! However, BO has done a lot to convince her that things are not right!

Ginger's posts about learning to shoot have my wife nudging me to take her to the shooting range so she would comfortable if things got as bad as some people indicate. This is a good thing IMO.

Thanks again to ALL!!

Now back to lurking and learning!!

¤ · Jul 19, 2011 - 3:13pm

We would go to jail for that

If any one of us could make big enough trades everyday that effected entire global markets and we were on the other side of all those trades and profiting like crazy, the SEC and TPTB would have us investigated and arrested and put in jail like the shows trials they do now for the smaller bait fish.

Just like TF has been saying and we've been witnessing, the timing of the news conferences and EE attacks are like clockwork. 11:00 a.m. and/or 1:00-1:30pm mostly

duckwomanloulou · Jul 19, 2011 - 3:14pm

This will end

All they have is manipulation and (temporary) control and bullying of us/the market, but as the NewsCorp/Murdoch debacle unraveling here in the UK shows, we will have our day (in the golden sunshine and silver moon). The forces for good always overcome the forces of darkness eventually. We just have to be patient and remember that every dog has its day -there's is now but ours will be soon.


¤ Eric Original · Jul 19, 2011 - 3:17pm

Standing O' Eric O"

Nicely put Eric O'

I put the vids/cartoons up for a smile or laugh and a moment of distraction from the everyday grind for anyone who's interested.

Keep up the good work.

(of course you get a tip for it, why not?)

· Jul 19, 2011 - 3:18pm

Amazing Insight, Mr. Ferguson

I still sit here and read your posts with utter amazement. I am constantly asking myself just how lucky I am to be able to read this site, for free, and get such wonderful, unbiased, politics-free insights. Thank you for what you do Turd.

As for the raid, I felt since last week that a raid was most certainly coming. The EE took full advantage of timing, that is a certainty. Just like all the others, though, over time, physical silver and gold will rise in price in terms of the USD. It has to, and it will. No problem. I just have another viewpoint to add to the mix. I hope this helps. 

I happen to be a glutton for learning at the school of hard knocks. In fact, I have never graduated. I still seem to be forced to do continuing education perpetually. I say this because I have a Forex account with FXCM. I decided that there is no way to learn like having your own skin in the game.

Anyhow, watching all the charts on the Forex, there is another angle I was thinking about relative to the manipulated PM exchanges.

Everyone here knows that currencies trade in pairs. So, it is very insightful to watch the risk-on vs. risk-off pairs. I am just a rank beginner at this, but over the past year, I have come to learn a thing or two.

The EUR/USD is on a distinctive up trend since last year, for certain. But, it sure seems to me that it is now in a sideways trend, and will soon topple over to the downside. As you have said repeatedly, fiat currencies are in a race to the bottom where everything is relative. Since June 2011, the EUR as against commodity economy currencies, like AUD, NZD, and CAD, is getting its ass kicked. The EUR/CHF pair is a proxy for gold, and it is in a solid down trend, with big moves up and down in that trend, though. I am getting clobbered on a short I have, since there is a giant up move going on right now. I have no doubt that it will soon reverse and continue on its down trend, but I have to sit tight. The USD/JPY pair is flat to slightly down, and spikes on bad news and intervention. I can't trade the JPY as I just keep losing money. I wish I could decipher this better, but I just can't.

So, what does all this add to the discussion? It seems to me that a synthesis of currency pairs are more representative of a free market price discovery mechanism, than the PM futures' markets. For example, on the GBP/CHF pair daily chart, since the QE2 announcement of the Bernank back in August 2010, this pair has dropped off considerably, and consistently, without the big swings like other currency pairs. Why does this pair lack the volatility, though? 

I wish I knew, but the GBP/CHF, along with the other currency pairs with the commodity economy currencies confirms for me the basic truth that the western, non-commodity economies have no choice but to print, and print, and print. That means devaluing, and that means PM's rise in price relative to those currencies. It is a fact, and will not change no matter the top calling dolts who say it will.

The EUR is literally a ticking time bomb, subject to wild price swings based on manipulation and obvious insider trading. But we all know that the EUR is doomed, and the trades are obvious on a long enough timeline. That is why the POSX is not such a good forecasting tool in my view.

So, back to the basic premise. Physical gold and silver are true stores of wealth relative to the USD, no matter the manipulation that is so readily discernible in the paper markets.

Thank you again for all you do. I will be stacking, and studying.

TheGoodDoctor · Jul 19, 2011 - 3:20pm

@Eric Original No worries we

@Eric Original No worries we know what you bring to the table. It just shows that the information in the forums maybe isn't as trafficked as Turd's posts. I self tipped a few times as I thought maybe someone might check my other posts in the forums. I've realized that it is has been somewhat futile to try to get on the "list".

So, I will just post and hope it gets noticed if it is of value to the community. There could be some hat tip solutions like making forum has tips worth more or the mods weighing in with extra hat tips on important posts but again it could skew the system. I think the most beneficial would having important or valuable must read threads stickied and we can leave that up to the mods.

Let's face it people like pictures of kitties, humor, and YouTube! clips! What can you do? *shrug* cheeky

Titus Andronicus · Jul 19, 2011 - 3:20pm

The smack down continues

Wow! Some heavy coals being poured onto the sells in silver.

This actually works for me because I'm getting a big invoice paid today.

Hmmm .... what should I do with the cash?

LaMachinna · Jul 19, 2011 - 3:21pm

You know when someone or something....

pulls out the big guns to stop good from happening, its always an affirmation, a confirmation, of my firm fundamental beliefs and resolute. This, too, my comrades shall pass......

You hanging?? 

Thanks EE for the compliment! :) 

Eric Original · Jul 19, 2011 - 3:24pm

Ooh, getting a lot of tips

Ooh, getting a lot of tips for that one! Bwah ha ha ha!!

I'll get you yet, JoeKa!!

Paladex · Jul 19, 2011 - 3:27pm

"Running Out of Gold & Silver"

This jumped out at me from CNN ... (emphasis added)

"Obama came on television and it seemed like there was significant progress on the debt ceiling," said Phil Streible, senior market strategist with Lind-Waldock. "Suddenly there was a lot optimism. With the way they're running out of gold and silver, investors are running out of safety assets."

Excuse me, did you just say, "RUNNING OUT OF GOLD AND SILVER?" 

I mean, Phil's right (and we all know it, here in Turdland), but I just didn't expect to see it mentioned on CNN. Especially as part of an explanation of why gold prices went down. After all, if investors are "running out of safety assets," shouldn't the price of those assets be going through the f'ing roof?

Here's the story link:

Eric Original · Jul 19, 2011 - 3:28pm


Don't worry about it, buddy. Your contributions to this site have been huge! Keep up the good work. yes

LipstickOnAPig · Jul 19, 2011 - 3:29pm

These raids mean nothing, and

These raids mean nothing, and for 10 years running are never effective for more than brief little chart spikes soon forgotten on a longer term view. This is why all the trading "chart/technical talk" is a bunch of hot air. We long term holders and "understanders" of what's really happening have been kicking the ass of these clowns for a long time. They have tried everything to break the back of this movement and have failed EVERY time, and yes, this includes the serial killer gone crazy knife slashing of May 1st. I've been at this a long time, and I can tell you trading PM's is a difficult game. Honestly, why the hell would ANYONE try to "trade" a market that is perpetually manipulated in the short term anyway? It's like trying to catch bullets with your teeth. Buy. Hold. Accumulate. Cost average in consistently. Wait for the collapse which is inevitable. Inevitable collapse = guaranteed long term upward price trajectory in real money, gold and silver. I laugh at their attempts, but scream in rage at the lawlessness of the whole operation. Don't sweat the short term machinations in the price, it means absolutely ZERO. Get it? Rage against the machine, the machine is the problem, not their silly, vain little attempts at price manipulation. But hey, trade away if you must. Just don't blame real money for your losses, losses that you have incurred trying to trade a rigged market in the short term.

As an aside, these after hour beat downs will be harder to accomplish with any lasting effect, if even at all, once the new China exchanges are up and running completely. (silver begins trade on the Hong Kong Merc this Friday) Maybe then the market will be tradable (MAYBE) and most of you can wallow in a bed of chart and technical analysis ecstasy. I do not mean to insult anyone trying to trade PMs, nor to condemn them. I am simply stating what many, many years of experience have demonstrated, and that is trading PMs is not for the newly enshrined, and has an incredibly expensive learning curve. It loves to leave many a trader burned in the pit....

Guyver · Jul 19, 2011 - 3:30pm

WOW... brutal.....

I have been trading PM's for 4 month now. Reading a lot of comments, conspiracy theories and the lots. Every time I get confident enough to step back in, right at that time the PM's get raided not long afterwards. I agree with Turd, it is criminal. I try to stack as much physical as possible, even though it might not be a whole lot. Some money I use for commodity trading for the leverage. Every time I think we are going the right way, something evil happens again with no special news or special events whatsoever. I wonder where it will go and I am trying to stretch my resources. However more days like this will make it difficult to keep up. I enjoy reading Turds opinion and it is shared by many sites and people. That is what makes these knockdowns so incredible. Stores here are out of physical stock of silver and gold and I have to wait for 2 weeks just to get an order in. Hope I can survive before the EE gets me :-).

Shill · Jul 19, 2011 - 3:30pm

Take note

Dow up 200 points and 10year yield down 4 bps?

Ok sure.

Notice: If you do not see your new comment immediately, do not be alarmed. We are currently refreshing new comments approximately every 2 minutes to better manage performance while working on other issues. Thank you for your patience.

Become a gold member and subscribe to Turd's Vault


Donate  Shop

Get Your Subscriber Benefits

Exclusive discount for silver purchases, and a private iTunes feed for TF Metals Report podcasts!

Key Economic Events week of 11/26

11/27 9:00 ET Case-Schiller home prices
11/27 10:00 ET Consumer Confidence
11/28 8:30 ET Q3 GDP 2nd guess
11/28 10:00 ET New home sales
11/29 8:30 ET Personal Income and Spending
11/29 10:00 ET Pending home sales
11/29 2:00 ET November FOMC minutes

Key Economic Events week of 11/19

11/20 8:30 ET Housing Starts
11/21 8:30 ET Durable Goods
11/21 10:00 ET UMich Sentiment
11/21 10:00 ET LEIII
11/21 10:00 ET Existing Home Sales

Key Economic Events Week of 11/12

11/14 8:30 ET Consumer Price Index
11/15 8:30 ET Retail Sales
11/15 8:30 ET Philly Fed
11/15 8:30 ET Empire State Fed
11/15 10:00 ET Business Inventories
11/16 9:15 ET Industrial Prod and Cap Utilization