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

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turd [at] tfmetalsreport [dot] com ()

  125 Comments

Tesla
Aug 16, 2011 - 10:18am
Adam Smith
Aug 16, 2011 - 10:25am

@Animal Sacrafice re Canned Hams

Here's what I received today:

We're sorry, but the following products are currently out of stock and will not be shipped.

Quantity

Product Size Price ordered shipped Celebrity 12.0 2.29 12 0

ATLANTA CELEBRITY CANNED HAM12OZ

We apologize for any inconvenience this may have caused you. We make every effort to ensure that we have your ordered items in stock, but unfortunately exceptions do occur. (Items that are out of stock will not be backordered.) We value you as a customer and look forward to having another opportunity to fulfill your drugstore needs online. Thank you for visiting Walgreens.com, and we invite you to visit again soon. If you have any questions, or we can further assist you in any way, please contact Walgreens Customer Service.

Boswell
Aug 16, 2011 - 3:36pm

Ham hits the fan

Don't you guys ever learn?

Apparently your "paper" hams are worthless! ;-)

I'm stacking physical. Went to two local stores and got 6.

Also had the annoying lady in line in front of me and the checker felt sorry and gave me the 15% "Senior" discount! 3 for $1.99ea!!! Try asking if you can pass for 55+.

Eric Original Boswell
Aug 16, 2011 - 5:00pm

"Paper Hams"

Hilarious!! There's a lesson there!

TheGoodDoctor
Aug 16, 2011 - 5:29pm

We need a ham backed

We need a ham backed currency!

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