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 - 10:43pm



Paul Won Iowa.

Video unavailable

"have you seen what I can do with a corndog Randy?"

I Am The Unknown Comic
Aug 15, 2011 - 10:48pm

Spam Recipe #2

@Ginger - well, I actually waited to post because I didn't want to be first on this new thread, given the excellent information provided by Turd and Jim. I will digest their info info and check the links and post later on that either in this thread or over on Pailin's Trading Corner (Forum, Silver).

So, based on your posts from today's previous thread, I wanted to use my creative talents to post a canned ham recipe for Ginger:

Ginger's Sweet Summer Canned Ham:

1 canned ham

1/2 can pineapple slices

1/2 jar maraschino cherries (1 cherry per pineapple slice)

1/8 cup cloves

1 tblsp tarragon

1 tblsp mint

1 tblsp GINGER

1/2 tsp nutmeg

1/2 tsp allspice

1/8 cup butter

Preheat oven to 350 degrees as things around here could get a little warm, but we don't let them get too hot.

Remove ham from can thus ensuring no canned ham or associated canned speeches, (just like Ginger does with each well thought out and friendly post!).

Mix Ginger, tarragon, mint, nutmeg, and allspice and sprinkle over entire ham.

Arrange pineapple rings around both long flat sides of ham. Insert toothpick through maraschino cherry and attach to ham through center of pineapple ring, so that cherry rests comfortably in center of pineapple ring, both touching ham.

Insert whole clove pieces directly into ham in remaining spaces between touching pineapple rings.

In baking pan, bake in oven 40 minutes. Remove from oven. Collect gelatinized drippings and sautee in sauce pan with butter on low heat until thickened into a jelly-like sauce.

Best served with green bean casserole or similar green vegetable dish, hominy, fresh rolls, and Gewurstraminer wine.

Aug 15, 2011 - 10:53pm

Good stuff from TF and Jim Willie

Global QE? H'mmmm.......

A "Central" central bank sounds like a nwo to me. It won't be a governing body like a sovereign govt. but a Central NWO Bank that basically dictates life on the planet as defined by available credit and credit worthiness plus commodity price fixing (happening now via EE in the markets) and wage controls. Price controls from inflation look likely at some point. They always get mentioned as a possibility.

I also think the next big G-7 meeting and a series of IMF and/or World Bank meetings are going to start to take place more frequently with MSM urgency thrown in to boot to prep the field.

Last makes sense that the banks and Govts. would want the S&P's and Moodys etc of the world out of the credit rating business altogether so that the Central banks can set the credit worthiness of individuals, companies and banks(how convienient). It also would allow them to set the value of their own assets/collateral regardless of their business practices or fiscal irresponsibility or the true underlying value of any asset they deem to be worthy of whatever they want it to be.

Junk is in the eye of the beholder, right? What if you could arbitrarily value it for your own benefit to leverage even further?

Aug 15, 2011 - 10:58pm

@DarkPurpleHaze - Land for Gold

Your post about land for gold -

This makes just too much good sense, therefore: 1) Will Never Happen unless someone like Ron Paul is President; 2) Anyone who puts forth the idea will be branded a financial terrorist until that time; and 3) Bawney Fwank (thhhhppppt) and probably enough Republocrats probably have a law ready to pass to stop it.

Nice Try.

Aug 15, 2011 - 11:02pm

The Jackass

I have subscribed to Jim Willie's newsletter for the past 5 or 6 years........It is WELL worth the reasonable price. It is by far the most valuable newsletter I have subscribed to in my 30 years of trading in the futures markets.

Aug 15, 2011 - 11:11pm

Yes i am a Jim Willie fan and also a big fan of TFmetals

Gotta love the golden jackass take on the state of precious metals, and particularly because of his incredible record of making great mid to long term calls on them as well as the currencies and housing crisis etc.

I find myself gravitating to this site more and more. Just so mcuh good stuff to read thru, starting with the Turd 's Terrific commentary.

Keep up the great work, awesome site.

Aug 15, 2011 - 11:14pm
Aug 15, 2011 - 11:16pm

Turd and Golden Jackass

Thanks to you both for a great post.

Aug 15, 2011 - 11:19pm

Can anyone help me

I am looking to find a resource that gives me ideas on how to introduce silver as a viable payment to businesses I regularly go to. Places like the salon, a local grocery store, etc. Most people are so under educated about what silver really is that they just have no idea and I don't want to overwhelm or confuse them.

I know that everyone says to use your junk fiat but how can we ever educate people if we don't ever practice what we preach.

A zerohedge article today states:

"The construction of silver based barter markets must become a priority. Owning silver is not enough. We must start to use it in place of dollars if we are to have any control over our own economy. Barter efforts like this are becoming much more common, but we are still a far cry from full scale utilization of alternative currencies. With the implosion of the dollar, it will only be a matter of time before metals take primacy as a means of trade, so why not get a head start now?Eventually, the increased circulation of physical will allow the free market to determine the natural value of silver and gold, instead of the subjugated paper market, until finally, the mainstream spot price is completely irrelevant.

Can anyone help with any ideas?

Aug 15, 2011 - 11:19pm

Post Office Bruhaha...hahahaha.

I've been hearing about the Post Office layoffs and how significant it is in regards to the current market conditions.

I've had friends going back into the 80s that worked for the P.O.

As e-mail and on-line information (such as various instructions for 'how to') grew, it was acknowledge back then that the P.O. would become obsolete with time.

Also, the P.O. would raise their rates on a cycle that allowed them to be profitable for awhile, then break even, the into the red until the next postal increase.

While the layoffs do contribute to the unemployment problem, this down sizing is not so much due to the market (although there may be some contribution) but really in large...due to obsolescence.

I worked in third party fulfillment that collated and shipped out all sorts of printed material. That material is now placed on line (to save dollars for the vendors).

In short...people are reading too much into the P.O. layoffs.

Subscribe or login to read all comments.


Donate Shop

Get Your Subscriber Benefits

Private iTunes feed for all TF Metals Report podcasts, and access to Vault member forum discussions!

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.

Key Economic Events Week of 9/3

9/3 9:45 ET Markit Manu PMI
9/3 10:00 ET ISM Manu PMI
9/3 10:00 ET Construction Spending
9/4 8:30 ET Foreign Trade Deficit
9/5 9:45 ET Markit Svc PMI
9/5 10:00 ET ISM Svc PMI
9/5 10:00 ET Factory Orders
9/6 8:30 ET BLSBS

Key Economic Events Week of 8/26

8/26 8:30 ET Durable Goods
8/27 9:00 ET Case-Shiller Home Price Idx
8/27 10:00 ET Consumer Confidence
8/29 8:30 ET Q2 GDP 2nd guess
8/29 8:30 ET Advance Trade in Goods
8/30 8:30 ET Pers. Inc. and Cons. Spend.
8/30 8:30 ET Core Inflation
8/30 9:45 ET Chicago PMI

Key Economic Events Week of 8/19

8/21 10:00 ET Existing home sales
8/21 2:00 ET July FOMC minutes
8/22 9:45 ET Markit Manu and Svc PMIs
8/22 Jackson Holedown begins
8/23 10:00 ET Chief Goon Powell speaks

Key Economic Events Week of 8/12

8/13 8:30 ET Consumer Price Index
8/14 8:30 ET Retail Sales
8/14 8:30 ET Productivity & Labor Costs
8/14 8:30 ET Philly Fed
8/14 9:15 ET Ind Prod and Cap Ute
8/14 10:00 ET Business Inventories
8/15 8:30 ET Housing Starts & Bldg Permits

Recent Comments

by Ozymandias, 27 min 18 sec ago
by Blackwatersailor, 33 min 7 sec ago

Forum Discussion

by sierra skier, 6 hours 40 min ago
by NW VIEW, 6 hours 51 min ago
by sierra skier, 8 hours 32 min ago
by Trail Trekker, 9 hours 56 min ago