Recalling Last Tuesday

Tue, Jul 26, 2011 - 10:08am

Just a couple of things while we wait for The Wicked Witch...

1) Once again, The Cartel raided the metals in the U.S. overnight. This time, they extracted about $6 in the 5 minutes beginning around 3:25 EDT. This has been their recent pattern. Over the past two weeks, raids have been a frequent occurrence between 3:00am and 5:00am EDT. I do not have the charting capability to print a 15-minute or even an hourly chart that goes back the past 10 days. If anyone does, please post it in the comments below. I'm sure it would be telling.

2) The POSX looks the part today.

The fact that it is close to breaking down through the bottom of its range yet the PMs are NOT rallying leads us to point #3...

3) Be on guard for another Tuesday Globex raid by The Forces of Evil. Recall last Tuesday...They showed their intentions by raiding the PMs in the overnight. They were unable to generate selling traction during the pit session as all commodities were sharply higher. They waited until the pit close (and after the time cutoff for the CoT survey) to raid.

What have we seen today? An early morning raid and a pit gold price that's tough to "assault" because of the extraordinarily weak dollar. Same conditions as last Tuesday.

And with the atmosphere ripe for a headline or even a rumor or some type of "compromise" in D.C., you've got all of the ingredients for an EE beatdown. Oh, and don't forget that today is August gold options expiry.

Be careful out there. A full-scale attack could come at any time. TF

About the Author

turd [at] tfmetalsreport [dot] com ()


Blue Sky
Jul 26, 2011 - 10:11am

Get out those full metal jackets!

Good luck all today. Play safe!

Jul 26, 2011 - 10:13am
Jul 26, 2011 - 10:14am

Nice Update

Thanks for a solid update. I too have noticed the late night raids. Sure like to get this debt ceiling debacle behind us so we're only dealing with one set of bad guys. Have a good one.

Jul 26, 2011 - 10:15am

just keep buying, boys and

just keep buying, boys and girls.

Jul 26, 2011 - 10:16am

Gold to Go?!

Now isn't that telling.....

Carry On and Hunker Down Comrades

Jul 26, 2011 - 10:18am

Cash in hand & ready to buy

I'm waiting for the raid so I can buy some cheap physical gold and silver tomorrow morning here in Europe!

Bring it on!

Jul 26, 2011 - 10:18am

Options expiration hour ?


Thanks again Turd for all the posts.

A newby question: what's the exact hour of Comex option expiration ? today's close certainly, someone can confirm ?

Same question for SLV/GLD options, was it close of the 22nd ?


Larry L
Jul 26, 2011 - 10:21am

Re: Happy Tuesday Begins!

Those guys in the white coveralls with a black halo don't fool me!

Jul 26, 2011 - 10:24am

Some days

You just have to walk away from it all.

This is one of those days.

Jul 26, 2011 - 10:25am
Be Prepared
Jul 26, 2011 - 10:27am

Won't See Much Selling

I agree that there won't be much selling today and I can't imagine them being able to get the price level below 1605. However, once they unleash their made up solution to kick this can down the road, I believe we will see some heavy selling pressure before the next major leg up..... and there will be more movement upwards because QE3 isn't that far away from being announced......Happy Tuesday.

Jul 26, 2011 - 10:27am

Just found this...

...hopefully it hasn't made its way here already... :)

Jul 26, 2011 - 10:29am
JohnG JohnG
Jul 26, 2011 - 10:31am


I can make higher res charts if I can upload a bigger file.

This is 1hr 20 days.

Jul 26, 2011 - 10:35am
Jul 26, 2011 - 10:36am

15 min 5 day

15 min 5 day

Jul 26, 2011 - 10:37am

Still aggravated

getting aggravating

Submitted by DarkPurpleHaze on July 26, 2011 - 10:01am. Hat Tip! 2

The way they keep crushing the prices down right before, during and after the market open.

The PM options and their momentum gets flattened out right away and it's another day of "what if?"

The SEC cracking down on the guy who messed around with the palladium and platinum is small fish compared to what the EE does every single day in the much larger gold and silver markets.

When is this going to stop? We obviously do not live in a free and equal society in many ways and fair and equal treatment and justice used to be a founding principal of our country.

What happened to that?

Did it ever really exist or was it a history class lesson that we have been slowly and steadily taught to believe and accept as fact?

I'm almost not even sure why I even try to play the paper markets at all. Am I hoping and dreaming that a long standing and intrinsic part of our financial system is suddenly going to stop being aided by our Fed., Treasury and our Govt.?

Something drastic needs to happen and I hope it happens sooner then later because living in a society with a Govt. that is a nothing but a thinly veiled kleptocracy or whatever it is that is happening to us.

Maybe, just maybe, it's been this way almost forever and I'm just now getting old enough and fed up enough to actually allow myself to accept what I have felt and feared about our country...most of it is an illusion of free markets and justice.

Jul 26, 2011 - 10:39am

ZH nails it, as usual

Indeed, the Founding Fathers' vision of prosperity has been destroyed - and we've gone from the "wealth of nations" to the "debt of nations" - at least in part because our political system has been subverted by non-Constitutional committees and entities.

For example, the country's most powerful "agency" - the Federal Reserve - is actually no more federal than Federal Express. The Fed itself admits (via Bloomberg):

While the Fed’s Washington-based Board of Governors is a federal agency subject to the Freedom of Information Act and other government rules, the New York Fed and other regional banks maintain they are separate institutions, owned by their member banks, and not subject to federal restrictions.

For that reason, the New York Fed alleged in a lawsuit - Bloomberg LP v. Board of Governors of the Federal Reserve System, 08-CV-9595, U.S. District Court, Southern District of New York (Manhattan) - that it was not subject to Federal Freedom of Information Act.

As the long-time Chairman of the House Banking and Currency Committee (Charles McFadden) said on June 10, 1932:

"Some people think that the Federal Reserve Banks are United States Government institutions. They are private monopolies ...."

Jul 26, 2011 - 10:40am

very good

Very good forensic tracking by Turd. Sometimes its much,much more valuable than anything else. Its Turnaround Tuesday. Could all reverse momentum today. If so I will welcome the dips in many issues. Will be watching 10 a.m. Pacific time area closely.

thanks to all, was away at a wedding. It took longer to fly to San Francisco from L.A. then to drive. Thugs and TSA everywhere. 5 checkpoints. What a friggin joke. They should make O'bottom work the naked body scanner 8 hours a day at the International Terminal.

Jul 26, 2011 - 10:42am

letter to elected officials

I must be losing my mind. What's the definition of insanity? Doing the same thing and expecting a different result! Anyway, the letters can't hurt. Then again all the ones to the CFTC have done so much, not!

Dear Elected Official,

After watching the President and the Speaker last night this is my take.

1) All elected officials in the 3 branches work for the multinational corporations and the banking industry.
2) The US government has been purposely slowly devaluing our currency in order to be able to pay back unpayable debt.
3) The debt ceiling is nothing but political theater. Even if Congress could come up with $4 trillion dollars of cuts over 10 years
(which they can't), what does that accomplish? Our yearly deficit is $1.4 trillion. Over 10 years that's $14 trillion. So now you are going to "save" $4 trillion? My math teacher taught me that I just spent an additional $10 trillion that I had to borrow.
4) I have been self employed for 30 years. I pay over 15% in SS and medicare tax. I have paid over $250,000 into the fund. I may never get back the nominal value, let alone the inflation adjusted value.

Cuts need to be made in subsidies to the multinationals. They need to stop being protected from paying taxes from off shore havens. The military needs to be slashed 50%. Homeland Security is a joke and needs to be slashed.

Bottom line is our money system is broken. Nothing can be fixed without sound money. We were sold out in 2008 with Paulson. TBTF, should fail. They should not be to big to prosecute either. Those white collar criminal bankers should go to jail.

Edit: strong letter to follow

Jul 26, 2011 - 10:43am


Great letter, one suggestion. take this comment out

Those white collar criminal bankers should go to jail.

They will label you as an aggressor. I understand your position and the rest of what you stated is fact and warranted.

Remember those that sleep together stick together. Knocks at the door is not something you need.

Jul 26, 2011 - 10:46am


If you read about the causes of the French Revolution in 1793 you will find solace. Nothing new under the sun here and back then it was actually worse. Mass starvation in France the winter before they marched on Versailles to kidnap the King and Queen. I think the first heads taken were banksters in fact. There are general readings of this on youtube and "Tale of Two Cities" remains one of the very best accounts. It will give you support, knowing that this has all happened before.

Jul 26, 2011 - 10:57am


Gridtime! Graceland Juniors subs watched Uranium One blast 50% higher in 3 weeks, from about $2.45 to $3.75. There appears to be a sort of mangled but large head & shoulders pattern on the stock, and the Japan “it’s all over for the yellowcakes because my dog said so” hit was perhaps the last major sale opportunity to get in on the party before it goes astro. The bottom line is that if you are new to juniors stock investing, you need to understand that, by far, the bulk of the stock you buy is going to be in the “surprise, you’re on fire” zone, not the “I’m the great juniors analyst and I just called the turn” zone. Stocks tend to tank “out of the blue”, and only by being prepared to buy all the way to zero can you survive, let alone prosper, in the juniors arena. See you... on the grid!!!

Jul 26, 2011 - 11:00am

@ shill

I wish I would have got your advice before I sent it. Oh well. Now that you mention it, I had never been audited in 28 years until last summer. Must be a coincidence. BTW, they got virtually nothing from the audit. Just another wonderful way to spend tax dollars.

Thanks for all you do here. You are a news gathering machine.

Jul 26, 2011 - 11:00am


@SilverWealth...your right.

Other people in history have had it wayyyyyy worse then us or myself complaining about my PM stock options. Seems petty in that context but nonetheless we are watching market manipulation with aid of the Fed. and a blind eye from our elected officials.

I would only hope at some point a sharp question is directed at a politician about all of the PM manipulation in the market place. Ron Paul touches upon all of the things we are worried about in our Govt. and he literally gets no MSM coverage.

Last week he spoke openly of a secret govt. banking cartel etc. and you heard almost nothing at all except what was on ZH.

How can a presidential candidtae say something like that and no MSM picks up on it at all??? Something is very, very wrong there.

Jul 26, 2011 - 11:02am

More Obama "strategic communication"

I really liked the ZH version of the speech: “My fellow Americans... blah blah blah... stalemate.... blah blah blah... runaway spending... blah blah blah... all Bush's fault.... blah blah blah...” That version says it all. But there were three things from the speech that caught my ear: an absurd statement, a scary statement and some fear mongering. Obama said this: "Understand — raising the debt ceiling does not allow Congress to spend more money. It simply gives our country the ability to pay the bills that Congress has already racked up.” That is like saying to your bank, “No Sir, Mr. Banker, I won’t be irresponsible with my credit limit increase, it lets me pay for stuff I already bought! Pleeeeze?” That’s even more dishonorable than going out and buying more stuff, yet Obama seems proud of it. He also said, “If that happens, and we default, we would not have enough money to pay all of our bills…” You know, I’ve been there, in 1986, sitting at my desk, staring at my stack of bills and weighing it against my bank account. When Obama said this, that sick feeling came back to me. But something was wrong…Here was the president of the US begging for money, hat in hand, whining that we cannot pay the bills! All the euphemisms were missing in this speech—debt reduction, deficit spending, debt ceiling. They were replaced with “pay the bills,” “credit rating,” “skyrocketing interest rates,” –terms from the average person’s vocabulary. The scene was scary. For a moment, the dignity of his office was overshadowed by a broke guy asking to borrow some money. I have never sensed such a loss of dignity in a speech from a US president. Not until now. I am really pissed about this national debt! But I got even more annoyed when Obama continued about not enough money to pay “bills that include monthly Social Security checks, veterans' benefits, and the government contracts we've signed with thousands of businesses.” When you’re broke, you make choices about who to pay and how much. And it’s the not people you depend on that you don’t pay, it’s the unsecured credit accounts you skip. Imagine how much sympathy Obama would get from Americans if he made different choices about who doesn’t get paid: “bills that include interest payment to the Fed, new aircraft carriers, and legal fees for the fine lawyers who work here in Washington…Oh yeah, I almost forgot, bonuses for the bankers that saved us in 2008.”

We shall raise the ceiling. Our credit rating will be lowered and interest rates will begin to rise (unless Bernanke has another trick up his sleeve). QE will continue. Our slippery slope steepens. The debate is really about raising our national credit limit enough to put Obama through the next election.
Jul 26, 2011 - 11:06am

@ Murphy

Any time friend.

Be well

Jul 26, 2011 - 11:08am


Your right about the language and how they can interpret it these days. They need little pretext to investigate and harass and then charge someone as a domestic terrorist for making domestic terror threats.

Now we know why no one with any nationally recognized persona is willing to protest or start any type of real campaign bringing these things to light.

The electronic technology, surveillance and ability of them to track anything through the internet or cell phones etc. is scary and they are on top of it.

Big brother and Orwellian, you bet.

Blue Sky
Jul 26, 2011 - 11:11am

Not much of a raid.

I'll take. I'm off to buy a lottery ticket as the odds of me being first were so slim it must be my lucky day.

Check out Gold Miner Forum for info on my best pick and it's holding up well on these down days. Love the forums.

Lots of entertainment on the main page but it's strictly business in the forums.

Jul 26, 2011 - 11:17am


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