Three Overnight Items

Mon, Aug 15, 2011 - 10:08pm

Gold and silver performed exactly as expected today. Now that we're moving higher again, where do we go from here? The charts below will help.

I mentioned back on Friday that I was going to be participating in an interview of Clif High, the founder of the WebBot Project. Here's a link to Clif's Wiki page and site:

The full interview has now been posted to YouTube. Yours truly primarily appears in segment number one but I'd encourage you to listen to the entire interview.

Lastly, The Golden Jackass sent me a terrific and detailed email earlier today. He has also given permission to post it here. As you know, Jim is one of the few good guys who isn't afraid to speak his mind. He's also a Turdite. His website and subscription service can be found here:

Jim Willie CB to me

Hey you big Turd-bag
this is the Dirt-bag, aka Jackass Extraordinaire

interesting how Silver is negatively correlated with the USDollar
but so is the US stock market, which grew dependent upon weakness perversely
strange how over the last 18 months the S&P500 stock index became part of the USD Carry Trade
very interesting, almost recognized by the mainstream monkeys too
they failed to realize that the DJIA and S&P indexes merely preserved purchase power, not a bull market
but it means that Silver falls with the S&P500 stocks unfortunately
it will take a couple months to separate the two

the Global QE will in my opinion replace the US QE
it will take the heat off the USFed and the clueless Bernanke
has Ben gotten a single analytic perspective correct in four years ??
I think not
in fact, the Jackass and Big Ben are always on opposite sides, and Ben is wrong every time
with the Bank of Japan buying the USTBond and the Swiss Natl Bank pulling down the Franc currency,
we have the makings of a Global QE
all it needs is a G-7 Meeting with the confused broken central bankers to join hands and sing together

my thinking is that Silver has toyed around and dithered under $40 long enough
it has built a strong base, and shows absolutely zero interest in going below 38
that means the only trade is on the long side, which means over 40
the Weak USDollar trade will be replaced by a Weak Western Major Currency trade
see the USDollar, Euro, and British Pound, all of which all circling the FOREX toilet
the objective of the major central bankers will be to keep the exchange rates calm controlled contained
they can then claim FOREX is stable, mission accomplished, even though the commodity prices will rise again

some money will move from Gold profits to Silver buys, a big new upcoming factor
this is the next important phenomenon along with Large Commercials covering their short positions
I have stated many times that Gold fights the big important political battles
but Silver rides through on a white horse and take triple sized gains
this time is no different and Gold has broken a wide gap in their criminal fortress wall
to be sure, some claim Silver has too much of an industrial component
it does, but it is a staple with stable demand
the big added demand is from investment demand, a powerful new global factor led by the Chinese and Indians
Silver demand is still nearly equal in US$ volume as Gold, an amazing fact

my solid reliable experienced Gold trader contact reports that investment grade Gold bullion comes with a price premium of 25%
and that Silver bullion comes with around a 20% price premium, both versus the COMEX paper prices
he calls the COMEX almost completely irrelevant, but still watched by sheep
translation: Gold is now at $2000 and Silver is almost now at $50

please post this note on your weblog if you wish
any quick thoughts in reply would be appreciated and valued, never depreciated, surely not deprecated
best wishes to you and all the other Turd-lets
greetings from the Land of Jackass Wannabees
/ jim

Have a great overnight/early Tuesday. See you in the U.S. a.m. TF

About the Author

turd [at] tfmetalsreport [dot] com ()


Aug 15, 2011 - 10:22pm

Thanks Turd First

Thanks Turd


Aug 15, 2011 - 10:23pm

I love Jim Willie.. ...Always

I love Jim Willie.. ...Always read him and so glad to know he lurks in this community!

Aug 15, 2011 - 10:29pm

Irene ...Re: last

Irene ...Re: last thread/ginger .......You make it sound fabulous! ...I do like ginger ale. Good and good for tummies.. ...hmmm.. ...don't know why I haven't cooked much with it unless the recipe specifically calls for it. ....I think ever since I had kids I got into the habit of making meals very basic without a lot of dressing them up. My kids were so picky that I found everytime I made something besides basic pot roast ..or basic chicken.. .or basic mac n' cheese.. they'd turn their noses up. ...They are getting a bit more sophisticated now though in their tastes. ......Time for me to start cooking again the good ol days ..before PB&J!

You sound like a pretty fabulous cook.

Aug 15, 2011 - 10:30pm


Paulson cuts B. of A., Citi stakes, ups CapOne

Soros fund cut stakes in Citi, Wells Fargo - MarketWatch


Nice to see Paulson in the GDX Gold Fields Ltd. GFI +2.87% and AngloGold Ashanti Ltd. AU +3.77% .

Aug 15, 2011 - 10:31pm

If you havnt bought SVM calls

If you havnt bought SVM calls yet, I would look into it. This thing is going to squeeze the shorts like lemons. New Years day should be a blast for time frame of POS and the juniors. Keep stackin that phyzz!

Aug 15, 2011 - 10:33pm

Real Estate for Gold/Silver?

repost. Almost the last post and too much effort to leave it behind.


Nice to hear from you Irene. Your right, they could care less.

I'm hoping that gold becomes so integral (finally) that it won't be necessary to sell it to profit from it. And if the Fed. Govt. was smart about it they would let gold be accepted for property exchange or land purchases etc. to help clear the real estate market a bit.

I've been thinking about this a bit and it's a incomplete thought so far but it goes something like this.

1) Lots of available real estate and it's not really moving despite low interest rates. A lack of liquidity or available credit from gun shy banks keeps credit tight.

2) Banks (and the Govt. via Fannie/Freddie) have lots of foreclosed and underwater properties on their books and can't dump them fast enough o provide clear title or documentation to do so.

3) Banks want gold and silver badly and want to offload properties anyway possible. Gold and silver would probably be preferred by them if it were allowed by law as payment for said properties. (pretty sure you all had a light bulb go off there)

4) The Govt. (Central Bank) allows gold and silver to be used for major transactions including real estate and land purchases. Congress passes the law to allow it.

5) Banks are happy with the gold, and the properties and land that the banks (Govt.) hold will start to get sold off at bargain rates in lieu of gold and silver into the banks vaults. The Govt. mandates that titles and documentation on those properties sold for gold/silver get Federal guarantees of a clean final deed and title that is declared valid and enforceable by law.

6) Banks eventually get control of prime tracts of real estate through use of other peoples gold and buy properties from themselves (wtf?) just like our Fed. is buying Treasuries from the US in the form of asset purchases. (someone please explain how that really works and how it makes any sense) They repay themselves with the same gold. (GLD and SLV come to mind?)

Since the Fed. Govt. is essentially run by the Fed. Reserve, all gold and silver that go to a bank is collected from those banks in exchange for fiat or more lax Fed. lending to those banks. The Gold and silver end up in Govt. vaults.

It could work but that would mean that they would have to give us an even break, and they won't. Plus it's too outside of the box for them to even conceive of. Just look at how Ron Paul is treated and has been for many years.

What the Pols. are good at is mocking things that frighten them or they simply don't understand or get. They have successfully done so (so far) with Ron Paul but I think the closer we get to the election the more traction he will pick up.

Vernon Wormer
Aug 15, 2011 - 10:34pm

Turd Rocks

Turd, loved the interview. Nicely done sir. Did anyone glean a timeline for the death of the Euro and $ from the answers provided? I have listened twice now and still can't figure out what he meant.

Also, I am the proud new owner of 6 canned hams from Walgreens. I have no idea why I bought them, but what the hell.

Dr Durden
Aug 15, 2011 - 10:38pm

Wow, the Jackass is here.

Wow, the Jackass is here. Fcuking awesome! Hiya Jimmy.

Loaded up on some shiny this weekend. Sitting tight, being right till Labor Day. You rock, Turdmister.

Aug 15, 2011 - 10:40pm

Silver Thoughts

Dr. Willie is simply the best writer on the web. He predicted a couple of months ago that QE would be a coordinated worldwide phenomenon and now he he reasserted that claim. I think he is exactly right that a coordinated QE would provide cover for Bernanke and the US fiscal and economic problems. Therefore, I still think $50 silver plus or minus $3 by year's end (it may hit $55 or higher, but they will knock it back down to my projected range) and probably somewhere in the $70-$80 range by the end of next year. I would like to see silver base out here a little more, but if last year is any indication, silver should start a decisive move here in 2-3 weeks.

Aug 15, 2011 - 10:40pm
Key Economic Events Week of 11/11

11/12 Three Fed Goon speeches
11/13 8:30 ET CPI
11/13 11:00 ET CGP on Capitol Hill
11/14 8:30 ET PPI
11/14 Four Fed Goon speeches
11/14 10:00 ET CGP on Capitol Hill
11/15 8:30 ET Retail Sales
11/15 8:30 ET Empire State Manu Index
11/15 9:15 ET Cap Ute and Ind Prod
11/15 10:00 ET Business Inventories

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Key Economic Events Week of 11/11

11/12 Three Fed Goon speeches
11/13 8:30 ET CPI
11/13 11:00 ET CGP on Capitol Hill
11/14 8:30 ET PPI
11/14 Four Fed Goon speeches
11/14 10:00 ET CGP on Capitol Hill
11/15 8:30 ET Retail Sales
11/15 8:30 ET Empire State Manu Index
11/15 9:15 ET Cap Ute and Ind Prod
11/15 10:00 ET Business Inventories

Key Economic Events Week of 11/4

11/4 10:00 ET Factory Orders
11/5 9:45 ET Markit Services PMI
11/5 10:00 ET ISM Services PMI
11/6 8:30 ET Productivity & Labor Costs
11/6 Speeches by Goons Williams, Harker and Evans
11/8 10:00 ET Consumer Sentiment
11/8 10:00 ET Wholesale Inventories

Key Economic Events Week of 10/28

10/30 8:30 ET Q3 GDP first guess
10/30 2:00 ET FOMC fedlines
10/30 2:30 ET CGP presser
10/31 8:30 ET Personal Income & Spending
10/31 8:30 ET Core Inflation
10/31 9:45 ET Chicago PMI
11/1 8:30 ET BLSBS
11/1 9:45 ET Markit Manu PMI
1/1 10:00 ET ISM Manu PMI

Key Economic Events Week of 10/21

10/22 10:00 ET Existing home sales
10/24 8:30 ET Durable Goods
10/24 9:45 ET Markit flash PMIs
10/24 10:00 ET New home sales
10/25 10:00 ET Consumer Sentiment

Key Economic Events Week of 10/14

10/15 8:30 ET Empire State Fed MI
10/16 8:30 ET Retail Sales
10/16 10:00 ET Business Inventories
10/17 8:30 ET Housing Starts and Bldg Perms
10/17 8:30 ET Philly Fed MI
10/17 9:15 ET Cap Ute and Ind Prod
10/18 10:00 ET LEIII
10/18 Speeches from Goons Kaplan, George and Chlamydia

Key Economic Events Week of 10/7

10/8 8:30 ET Producer Price Index
10/9 10:00 ET Job Openings
10/9 10:00 ET Wholesale Inventories
10/9 2:00 ET September FOMC minutes
10/10 8:30 ET Consumer Price Index
10/11 10:00 ET Consumer Sentiment

Key Economic Events Week of 9/30

9/30 9:45 ET Chicago PMI
10/1 9:45 ET Markit Manu PMI
10/1 10:00 ET ISM Manu PMI
10/1 10:00 ET Construction Spending
10/2 China Golden Week Begins
10/2 8:15 ET ADP jobs report
10/3 9:45 ET Markit Service PMI
10/3 10:00 ET ISM Service PMI
10/3 10:00 ET Factory Orders
10/4 8:30 ET BLSBS
10/4 8:30 ET US Trade Deficit

Key Economic Events Week of 9/23

9/23 9:45 ET Markit flash PMIs
9/24 10:00 ET Consumer Confidence
9/26 8:30 ET Q2 GDP third guess
9/27 8:30 ET Durable Goods
9/27 8:30 ET Pers Inc and Cons Spend
9/27 8:30 ET Core Inflation

Key Economic Events Week of 9/16

9/17 9:15 ET Cap Ute & Ind Prod
9/18 8:30 ET Housing Starts & Bldg Perm.
9/18 2:00 ET Fedlines
9/18 2:30 ET CGP presser
9/19 8:30 ET Philly Fed
9/19 10:00 ET Existing Home Sales

Key Economic Events Week of 9/9

9/10 10:00 ET Job openings
9/11 8:30 ET PPI
9/11 10:00 ET Wholesale Inv.
9/12 8:30 ET CPI
9/13 8:30 ET Retail Sales
9/13 10:00 ET Consumer Sentiment
9/13 10:00 ET Business Inv.

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