Three Overnight Items

125
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:

https://en.wikipedia.org/wiki/Web_Bot

https://www.halfpasthuman.com/

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.

https://www.youtube.com/user/webbotforumcom#p/c/B999009A902B0C2A/0/stbU3...

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:

https://www.goldenjackass.com/

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

Founder
turd [at] tfmetalsreport [dot] com ()

  125 Comments

Shill
Aug 15, 2011 - 11:20pm

“The Sequel”: How 2011 Is A Repeat of 2008—Only Bigger, Longer,

https://gonzalolira.blogspot.com/2011/08/sequel-how-2011-is-repeat-of-2008only.html

With that, till morning Turds.

Great post this evening Turd, thank you for your continued efforts.

Be well

treefrog
Aug 15, 2011 - 11:26pm

wallgreens times three

proud possessor of nine (9) celebrity hams. they have a limit of three here in n. florida, but there are lots of wallgreens' stores. while i was there, i noticed they also have honey on sale. thirty two ounce jug regularly $8.99 this week 4.99. that's cheeeeep! honey is :

healthy,

tasty,

imperishable,

and a good prep supply, future barter item. i got six jugs.

i might make another circuit of wallgreens tomorrow. i have plenty of little pieces of paper with green ink on them. i think ham and honey will be more useful soon. probably will pick up some large packs of tp too, but not at walgreens.

TheYeomanFarmer
Aug 15, 2011 - 11:27pm

Investment Grade Bullion?

I'm confused about this part of Willie's note:

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.

Huh? I can still find plenty of excellent, investment grade gold and silver bullion (i.e. Eagles, Maples, Philharmonics, Krugs) at far lower prices than this. What does he mean?

jackinrichmond
Aug 15, 2011 - 11:38pm

perry photo

is that the same sausage that bachman had in her mouth ?

lostinspace
Aug 15, 2011 - 11:42pm

Perry Photo

It is jackinrichmond.

Its a message to the Rotschild banking cartel... "We Swallow!"

Darth Smoker
Aug 15, 2011 - 11:42pm

Yo Yeo

have you been buying 50,000 oz at a time?

wallshot
Aug 15, 2011 - 11:51pm

Interviews

Interesting stuff on the youtube link...if only Time Magazine would put the link to the End of the Internet on the cover, I might have a chance of getting to it one day.

As was stated by others, much thanks for the double post to both of you all to getting this in to one post.

Also, I wonder what the impact on Hamhockalypse was related to this forum. Perhaps some future version of webbot can detect this?

SilverWealth
Aug 15, 2011 - 11:54pm

careful

for trading purposes I will be careful at this juncture. I smell a bulltrap. GDX and GDXJ and the DOW went up on weak volume today. On Tuesday they reset the COT which could well mean more short covering into the registration of the report and then smashdown as they quickly re-add their short positions post reporting. I don't know. I expect another major assault by those in power. Its never easy and over the last week it has been too easy for Granny. I expect the Empire to return on turnaround tuesday in a major way. They can see Silver could break out above 40. I don't think that is what they want.

Hope I am wrong. Best to everyone, SW

Marc Grail ashtoncole
Aug 15, 2011 - 11:59pm

Silver and Gold Payment Calculator

ashtoncole,

Check out the iPhone app "Silver and Payment Calculator" by Solari and The Moneychanger. I think it might be a step toward the solution you're looking for.

Slick
Aug 15, 2011 - 11:59pm

Thanks for sharing

Great to get Jim's input. Thanks Turd and Jim.

"..along with Large Commercials covering their short positions"

we can only hope this would also include the miners. What a serious injustice its been for so long all this time.

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