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 16, 2011 - 4:14am

Had the runs just now after

Had the runs just now after having eaten the soup from our Serbian/Bosnian neighbor. Obviously so does silver.

- Markus

Aug 16, 2011 - 4:21am

Stunning interview. Currently

Stunning interview. Currently rather at the beginning of it (from the couch, just standing up to make this post). But I love 12:45 on this one:

02/13 Clif High ~ TMRN -2011-08-12 Time Monk Radio Interviews Present:
Aug 16, 2011 - 4:38am

Money, Banksters and August 2011 – The Coming Silver Revolution

STOP! WHAT IS MONEY? The money that the world uses today is created by private banks lending non-existent money called credit. This credit has never, does not and will never exist, except in theory on computer screens. People die and they starve all because they do not have enough digits on a computer screen. All of this credit, created by the private banks, is owed back to those same banks, plus interest. By design, there is never enough credit in circulation to pay back all the principal plus interest on the loans outstanding, which is why the concept of bankruptcy is built into the system.

Using the simple system above, banksters are given the ability to manipulate the world’s economies into ‘boom and bust’ cycles. In essence, the only difference between a boom and a bust is the amount of credit in circulation, or rather, the net amount of numbers on people’s computer screens. Initially, banksters create a boom by increasing the supply of credit in the economy. During this boom period, individuals and businesses are encouraged to take on more debt as they are more confident of increasing their income in the future. All this extra credit in the system leads to more activity, which in turn creates more confidence in the system, with many getting into more debt. This boom is akin to a fishing trawler, the bankster throws out a credit line and waits, once the bait has been taken the bankster begins to wind in the credit by taking credit out of circulation, it’s gone. The economy then moves into a slump or recession, simply because there are not enough units of credit in circulation. The banksters are then able to trawl from people the wealth that does exist, in exchange for money that never existed in the first place.

Remember, it’s just a ride…

The monetary revolution will not be televised. You need ¡SilverRevolución!

Help us follow the paradigm shift towards a decentralized monetary system.

Aug 16, 2011 - 4:54am

If Silver and Gold physical deliveries are going through

At 20 to 25% premiums, imagine the windfalls that are occurring in that very quiet space where gold leaves the miners and hits the markets.....cause I know none of my miners never report selling at better than Comex spot rates. No one ever seems to talk or discuss the middleman in the physical supply chain between the miner and supplier.

lazytrader choorles
Aug 16, 2011 - 5:14am

Silver Perth mint

Heard there is a 3 month wait for 1 kg silver at the moment.

Aug 16, 2011 - 6:15am

Perth Mint Supply?

Hi TurdleGG, is @lazytrader correct?

lazytrader donnojackshit
Aug 16, 2011 - 6:28am

@dunnoshit are you asking me

@dunnoshit are you asking me or Turd?

The 3 month wait is correct as of yesterday owing to high demand.

Aug 16, 2011 - 6:31am

Jim Willie

the clueless Bernanke
has Ben gotten a single analytic perspective correct in four years ?

Well, objective analysis is not one of the strenghts of J.W.

Bernanke for example was right to initiate QE. Without QE the debt implosion would have destroyed the world financial system and the western Plutocracies (not that i would be sad about that, but judging from Ben Bernankes aims, he certainly did the right thing).

Or for example let's take his position on inflationary pressures being transitory. He was correct, too.

At the same time crash-prophets like Jim Willie were dreaming of silver prices above 50, 70 or even above 100 USD.

Jim Willie just says, what we precious metal bugs want to hear. But it has never been a good investment strategy to listen to the things you want to hear. Paying attention to things you do NOT want to hear, usually is much better (i.e. listen carefully what Ben, Jean-Claude have to say, instead of ignoring it).

You don't have to believe me. Read past posts of J.W. and you will notice, he is simply a PM-pusher and FIAT-basher. Read wehat he wrote in 2008, when Silver went down to 6$. Did he recommend to get out?

IMO it's not good for TF's and this blog's reputation, if Jim Willie is praised that much.

Endzeit lazytrader
Aug 16, 2011 - 6:37am


Heard there is a 3 month wait for 1 kg silver at the moment.

It's awful to see, how the PM-market is turned into a disinformed and hyped mass market. You sit in front of a computer connected to the net. Why not visiting some PM-dealer-sites instead of believing in primitive propaganda?

kenklave Endzeit
Aug 16, 2011 - 6:49am

Totally agree. All those

Totally agree. All those people that bought at $21 in '08 and didn't sell really got their asses handed to them. Oh wait . . .

Aug 16, 2011 - 7:13am


That is the only thing I can say. That interview blew me away. So much new information I hadn't seen or heard anywhere yet. I'm usually not into these topics but Mr. High basically made sense everywhere. Much of what I had wondered about makes sense now.

Plus I learned that geiger counters do not sound at all like in the movies. Hehe.

Thanks for posting that interview and being in it Turd.

- Markus

Aug 16, 2011 - 7:33am

Turd & Jackass: TY for the fantastic analysis and leadership

Who knew 2 such as these would be a couple of our greatest minds and leaders? FACT, stranger than fiction: the story of today. Jim, if you're reading this, thanks for everything, I've been reading your stuff for years. Love your ongoing interviews with Tekoa DaSilva at Contrary Investors Cafe. Looking forward to the next one.

Suggestion Turd & Jim: get together for a webcast! Maybe have Sean/SGTbull interview the 2 of you. We would LOVE to hear you 2 teamed up, educating, leading, and helping keep us up to speed... Please make it happen!

Ok, here's more on Ron Paul, from ZH this morning:

In A CNN Interview, Ron Paul Discusses The Media's Blackout Of His Presidential Candidacy, And Many Other Things

Submitted by Tyler Durden on 08/15/2011 - 23:53

Yesterday ago presented the mass media' self disclosure that it was ignoring Ron Paul for this reason or that. Today, Paul, whose support base has suddenly become the target of some aggressive lateral grab tactics by fellow GOP presidential candidates, was interviewed by CNN's Piers Morgan, in an Q&A seeking, among others, to find why it is that Paul, who to everyone's great dismay (not ours) may actually be the GOP's top candidate for the presidential position, is being slighted in his own view. Paul's take: "they're afraid of me, they don't want my views out there, they're too dangerous, we want freedom and we're challenging the status quo, we want to end the war, we want a gold standard, and their view is that people just can't handle all this freedom, they want dependency, they want socialism and welfarism, so I think they don't like to hear our views, but I think we'll make the best of it and we'll do very well." Paul proceeds to cover his relationship with Bachmann (disagrees with her views, as she is "not as far from the status quo as he would like her to be"), why Paul's anti-war program is a challenge not just to GOPers but to Obama as well, with his numerous war fronts, how Paul at 75 is finally resonating with the majority of the US population, but most important is Piers Morgan's question on how Paul plans on becoming one of the fold and "making himself more electable", confirming precisely the bias that the idiot media holds against what can easily be the most honorable candidate in not just the GOP's but all party ranks. Paul's response: "why should someone soften their viewpoint on defending the rule of law and defending the constitution: that would be foolish. Extremists have been in charge for the last 4 years since they've been allowed to print money at will, so that's why we have overextended ouselves overseas, that's why we have inflation, depressions, inflations."...etc. When the mainstream media, and when Rick Perry, understands what Paul is talking about, that i when America will be worthy of a good president. Until then, it will have to make do with whoever win the popularity context in any given day, regardless of the amount of lies uttered in process. After all, as Morgan makes it all too clear, it is all just about "being electable" ... the same reason America is currently on the verge of the end.

Aug 16, 2011 - 7:43am

And your point would be???

"he is simply a PM-pusher and FIAT-basher."

Oh right, that's very bad. Gosh I just hate it when guys are right I tell ya...

Aug 16, 2011 - 7:48am
Aug 16, 2011 - 7:48am

No Hams for Me!

Got an email from Walgreens this morning. They are out of hams and won't be making good on my order. :(

Aug 16, 2011 - 7:54am
Aug 16, 2011 - 7:54am

Rickards @CNBC

@RedPill, yes that beyotch was always cutting off James, couldn't let him articulate his thoughts!

Vypuero SilverWealth
Aug 16, 2011 - 7:56am

COT reporting

SW (or anyone) when does the COT report for Tuesday end? Is it the 1:30pm session?

Endzeit kenklave
Aug 16, 2011 - 7:58am


The point is, people like J.W. or Sprott are often presented as being objective analysts only wanting the best for others. IMO they are only talking their own book.

So if a Turd Ferguson, who shares his trading insights, who has to get out, liquidate positions, wait, wait longer, is praising such people like they were in the same league like he is, then IMO he is doing himself no good.

And if you think it is a wise decision to buy PMs and hold them, even if a loss of 60 or more percent happens, because you buy a long term investor, then there is no need to read here and no need to read J. Willie. Because you will notice it anyway, when the system will collapse. I definately would know much better things to do, instead of reading financial articles and you surely, too.

And if someone still listens to someone as if he were a great expert, although his recommendations would have lead to missing the 2008-once-in-a-lifetime-investment opportunity, then this is not very clever. I guarantee you, that those listening to the J.W.s and E. Sprotts, will definately also miss the time to get out of their PM investments!

Something i'm quite convinced will not happen to those, who are listening to T.F., because T.F. is not a pumper.

Aug 16, 2011 - 8:01am

@Vypuero: I am not sure but I


I am not sure but I think I've read the information in Harvey Organ's blog, probably somewhere in the last post:

Aug 16, 2011 - 8:09am

What happens if Italy and Spain start selling their gold?

Just saw a post in the forum titled: What happens if Italy and Spain start selling their gold?

We sold most of our gold somewhere around 2005 @ $500 because politicians and the governor of Bank of Spain thought that gold couldn't go any higher. Therefore, don't expect gold selling by Central Banks like the SPR dumped oil barrels to hammer the price down, basically because in Spain we don't have anymore! In Italy they do have quite a substantial amount of tonnage, but there's no point in selling. As you can research yourselves, even the Central Bank of Greece (whatever the name is) is buying!!!
Aug 16, 2011 - 8:11am
Animal Sacrifice
Aug 16, 2011 - 8:13am

@Nick Elway re: Stacking Platinum

Because I've made so much money in the past buying platinum I'm a fan. Recently when the ratio went 1:1 (and more precisely because the ratio is not perfect when I could buy either gold or platinum or gold for the exact same price,) I moved $50K out of PHYS and into PPLT. Today looks like it's possible to be a true 1:1 again (or maybe tomorrow? WTFK?) We're driving to the US today so I'll have to keep a close eye on it via my phone. If it hits a true 1:1 I will sell $300,000 and reinvest that into PPLT.

This is just my thing because of major profits previously and there is no guarantee here, but I have a hunch.


Ogúnlaná iré owo

Aug 16, 2011 - 8:28am

Don't put on the Happy Wal-mart party hat just yet
( Cough ) Wal-Mart Dirt.

Sales at Wal-Mart Stores Inc's U.S. discount stores open at least a year fell 0.9 percent during its second quarter, marking the ninth straight quarterly decline as it tries to lure back bargain hunters

Aug 16, 2011 - 8:28am

Thank you Asia/Europe

Video unavailable
Aug 16, 2011 - 8:33am


It's one thing to talk one's book when one's book is an Edsel. It's quite another when one's book is gold and silver.

Any good investor automatically takes the "talk the book" discount when considering expert opinions. If not they don't remain investors very long. Do you really think most anyone here would wait for anyone else to "tell" us when to get out of PM? A) No and B) why are you projecting out 25 years? Isn't the next 3 to 5 more relevent and compelling?

Lastly, no one is right all the time. In the face of massive market rigging, trying to time one's calls requires a lot of bravery. One can easily make the case their prognostications would have been correct but for unprecedented levels of market rigging and manipulation. Undeterred, JW an others still had the cojones to step up and speak their minds, no matter how unpopular their views were at the time.

The fact that JW, GATA, Sprott, Rule, Dines and so many other long time veterans of the Money Wars have been right, and on the right side of history for a decade is what is most important. These people have vision, intelligence, and most of all Integrity, a substance that is becoming more scare than above ground silver stocks.

Aug 16, 2011 - 8:34am


2 things :

If the great experiment is about to end.. why are you guys still playing around in the paper markets. Do you really think your contracts will be honoured if the whole system goes kaboom.. so you are dead wrong there

There is no silver in central banks.. so why buy silver if you can buy gold instead ?

You guys need some vision on these things instead of trading in and out... just buy fysical gold and let it lie very still .. that's all you need to know..

You are no better than the banks shuffling contracts and paper around if you playing in this paper charade.. in fact you contribute to keeping this paper scam afloat

BlackHawk Endzeit
Aug 16, 2011 - 8:35am

Endzeit, someone pi$$ in your cornflakes?

And if you think it is a wise decision to buy PMs and hold them, even if a loss of 60 or more percent happens, because you buy a long term investor, then there is no need to read here and no need to read J. Willie.

Hey End. I'm trying to understand where you are coming from, but it's not easy. You love TF, hate JW and other analysts. I get that. I suppose you lost money trading on their advice at one time or another. So far Turd hasn't "burned" you. That's great.

Since you are a trader, how does somebody lose 60% if they hold long term and then the price goes up? I thought an investor only loses if they sell, and their sell price is lower than their buy price, not counting inflation. That's why I come here even if I like to hold long term, so I can have sophisticated advice from successful traders like you, for FREE!

BTW, I sold silver at under $6/oz in 2001 that I bought at over $8/oz 15 years prior. I guess that makes me a major dumbass. But silver kept me from being homeless when I lost my job and sold my home. Buy and hold is a major dumbass strategy for traders like me. Thanks for your help.

Aug 16, 2011 - 8:36am

Unknown Comic ...I didn't see

Unknown Comic ...I didn't see your post last night before I called it quits for the day. ..THANK YOU! ....That looks too good for words. Fitting for a Sunday Supper any time and probably will be on my Thanksgiving table this year. ...Yum. I have saved to my recipe folder. .....And I'll give you my family's feedback when I make it. (TY!)

Will be listening to your Clif High interview today TF ..Thank You for posting it.

Aug 16, 2011 - 8:36am


Yes according to Pailin its 1:30 Eastern on each Tuesday. This is when the crooks and riggers can pile back into shorts after lifting them from Friday-thru Tuesday morning. Its a tendency but it makes absolute sense.


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