An Encouraging Thursday

Thu, Sep 8, 2011 - 5:10pm

It what can only be construed as encouraging action, gold flew back higher today, nearly to the level it was before the blatant manipulation of Wednesday. I'll be very interested in the OI numbers tomorrow to see if today was primarily due to continued short covering by The Cartel.

I'll find it quite amusing if it was. To think that the SNB deliberately tried to manipulate gold lower only to be thwarted by the greedy, frightened, short-covering Cartel is wonderful to consider. Sort of like having your two worst enemies declare war upon each other. I'll stay happily on the sidelines while I giggle at my good fortune. At the end of days, survival instinct kicks in and everyone turns on each other. Perhaps that's what we're seeing here.

Regardless, The Turd is quite pleased with where we stand at this moment. Absent margin hikes or further intervention, the PMs look certain to trade higher this evening and into the overnight. (President O'bottom discussing the idea spending more money that we don't have should help provide the bids.) IF they can survive the usual 3:00 am LBMA beatdown, they will be poised for a stellar day tomorrow. Perhaps they will even finish with a green candle on the chart.

And if you haven't read this yet, I suggest you do it now. There's no sense in me commenting on it as I would imagine you can easily envision what I would say. (Something like "duh" or "ya think?" comes to mind.)

Have a great evening! TF

About the Author

turd [at] tfmetalsreport [dot] com ()


Sep 9, 2011 - 7:05am

Why no investigations from overseaing agansys?

Manipulating stock market is not allowed why is noone looking into the manipulation of the commodity markets?

ClinkinKY swefred
Sep 9, 2011 - 7:17am


Ever heard of the saying "the fox is guarding the hen house"?

Blue Sky Shill
Sep 9, 2011 - 7:20am

HUI : Trader Dan

Trader Dan's commentary on the HUI posted last night by Shill is a must read by everyone who owns miners. I think it was Tom who first stressed the HUI as an indicator for miners in particular.

Sep 9, 2011 - 7:22am

Nice! ( rolls hands ) what to

Nice! ( rolls hands ) what to buy, what to buy.

Morning TF

Sep 9, 2011 - 7:26am

Top o the mornin folks, I'm

Top o the mornin folks,

I'm thinking the same thing. on sale.

Sep 9, 2011 - 7:27am
Sep 9, 2011 - 7:28am

David Morgan on Youtube

David Morgan on Youtube

Video unavailable
Sep 9, 2011 - 7:28am

One more rumor.....

One reason for this massive spikes is the rumor that massive amounts of hitherto unknown reserves of gold have hit the market. Strange as it may seem, this seems to be happening. More to come next week. If large quantity of gold is sold onto the market it would reduce the value of gold explaining why the reduction was the same both times. This may be happening.

Sep 9, 2011 - 7:32am

Another Perspective...who cares about this week

If you bought gold one year ago you are @47% or @$600. I mean what kind of return do you get that on. Ok maybe some of the junior mining shares outperform..kaminak, Atac..that's if you bought them at .35 cents back in 07 or 08.

A little poo poo drop 2.17%. Let them keep the price here for a little longer, who cares. The gold producers will earn a lot of $$$ and you now what that means in terms of valuation for them.

They are running out of time..they have no where to go...

One year from now we could be up another 47%

Sep 9, 2011 - 7:33am

Does look like a shake down

Does look like a shake down morning though so stay vigilant.

Vigilant not panic, no reason too Ospender already noted last evening, were printing money. So your already winning.

Cool heads prevail.

silver foil hat Silver Monkey
Sep 9, 2011 - 7:37am


wb only said 60 days... by my calculation, that should be Sept. 11 (Sunday).

However, it was not clear if it was calendar days OR market days. Subsequent posts by wb (explained on the wb conspiracy forum thread) indicate that it should be calendar days.

Since the US markets are not open Sunday, then today would be the last day to trade in the US markets... if the assumptions are correct.

Depending on if your local coin store is open tomorrow, today would be the last day before her 60 days reference is up as well to acquire physical IF that is your investment strategy.

IF the 60 days refers to something they indicate will happen, and if it is Sunday, (now I hear that Asian markets may be closed Sunday night / Monday for a holiday...) but an announcement of some sort could still be made before Monday US COMEX opens which could be a 'game changer' if wb is to be believed...

That's all I'm saying. wb did not specifically say this Sunday / Monday something WILL happen. But the community consensus seems to agree that 60 days is up this weekend.

Go check the conspiracy forum posts for the wb topic... it's explained in better detail there.

And Sept. 11 would be too 'poetic' of a day to send their regards to Blythe and JPM. That, again, if my calculations are correct.

As far as derivatives, JPM has billions of dollars in derivatives they will have to start paying on as debt which is based on the price of silver being over $36 for 60 days. Their exposure increases exponentially as the price goes up... with silver in the "60's" they are nearly 'insolvent', according to wb.... if I remember those number correctly..

Fred C Dobbs
Sep 9, 2011 - 7:39am

rumor of new gold supply

Any links you can post on that?

Sep 9, 2011 - 7:43am

UK banking via Reuteurs

UK banking via Reuteurs

Video unavailable
Sep 9, 2011 - 7:43am

Umm 2turtledoves, the EE has

Umm 2turtledoves, the EE has never needed massive amount of actual physical gold to smash the price down, they seem to have no problem smashing the price with unbacked paper gold. In the last couple of years, releases of large amounts of gold were bought up quickly by foreign central banks rather quickly, and I can assure you if any large amount of physical gold was out there and the owners intent was just to sell it to the highest bidder and not smash the price down it would be bid upon by many countries. Hardly a week goes by without a story of some nation buying large amounts, why over the last couple of months we had Korea, Thailand, Mexico, Russia, making large purchases and many others talking about buying domestic production.

Sep 9, 2011 - 7:43am

Any links you can post on

Any links you can post on that?

Fred I found the source, it was a Gold Asteroid from the planet What the Fuck. Hurry up and grab some before everyone else does.


Fred C Dobbs Shill
Sep 9, 2011 - 7:47am

Good one

I really did laugh out loud.

Sep 9, 2011 - 7:53am

Sell the Rumor?

No links, No facts. Just a rumor to move the markets. Not my idea. That is what I heard moved the markets last Tuesday and today.

Fred C Dobbs
Sep 9, 2011 - 7:56am

rumor of new gold supply

Thanks, I just had not heard it.

Gold Dog
Sep 9, 2011 - 7:57am

Please be careful

As I pointed out yesterday, my work shows that we MAY be entering a prolonged down draft.

This stacker is taking a break.


Sep 9, 2011 - 7:59am

take downs

So, what if the take downs are to accomodate the shorts to cover - a service from the FED - again and again. May be the shorts want out, because the fat cats have decided on Labour Day in the Hamptons (rumor has it they decide the year on that day over a bbq - with implementation usually starting the next Monday). Everybody inside has this week to clean their books until Friday. What happens on Monday? Well, if everybody inside gets rid of their shorts, the plan may be to let pm's run. To keep it secret, nobody is allowed to buy before Monday. Just a thought...

Anyway, on Monday we can see the new trend, the bbq'ers decided on - what ever that is...

silver foil hat
Sep 9, 2011 - 8:02am

@shill / Fred

and I was about to post that when Elenin broke up, one of the pieces was pure gold and is about to make a controlled landing right in Fort Tungsten.

I guess that's why we're all here... Turdites think alike.... (well, on matters concerning REAL money, anyway..)

But I too got a real chuckle out of that pic. Maybe Sotero thinks that's how he's going to pay for his programs.

Sep 9, 2011 - 8:09am

Morning all

Just normal operating procedure. First let the Swiss devalue and now let's do it to the Chinese. Nothing new here for sure. Just a slow steady burn into devaluation world.

Sep 9, 2011 - 8:18am

FBI Solyndra raid: misuse of

FBI Solyndra raid: misuse of federal loans? -

This is your money at work from the first stimulus.


Sep 9, 2011 - 8:20am

Ho hum... another raid

At some point, much sooner than later, the midnight to 4 am (actually 24/7) raids and waterfalls won't mean a thing. Nothing except another buying opportunity. We're mostly there now. The only people that will be effected negatively are those unfortunate or stupid or greedy or corrupt souls who are left in the Comex Castle and in GLD/SLV before the paper walls come tumbling down.

My guess is that it wouldn't even be a big headline news story. Not for more than a day or two anyway. Little page 8 followups on occasion about so and so suing Comex, Blackrock, SEC, JPM, etc. Any settlements will be fiat, printed by the Fed and paid for by you and I. No crashing sound. The screams will only be heard behind closed doors of the aforementioned and those that follow this market from the right side. The 98% population will not hear it. Much like a tree falling in the woods.

In the meantime, many gold and silver investors have already become accustomed to the ways of the wind and the sea, and aren't thrown by the pitch and yaw of the manipulated peaks and troughs of these waters. We have our "sea legs". Not to say that a 30% drop wouldn't still make us throw up and cuss the super tanker that caused it.

My first reaction after seeing the charts this morning was the same as some of you sailors and salty dogs... I wince but appreciate the temporary discount.

Just keep the bow aimed at where you expect the storm to come from.

Sep 9, 2011 - 8:21am

Murph: SVM Calls

Saw your post late, did Tom respond? I think he knows SVM better. For my part I'm looking at 1.21.12 $14,15,16,17 strikes but haven't bought yet.

ClinkinKY Shill
Sep 9, 2011 - 8:21am


Let's see. B.O. "needs" $1 Billion for his reelection coffers. FBI "raids" Solyndra to remove certain records. (Sandy Berger wasn't available:)

alert Mbovane
Sep 9, 2011 - 8:26am
Sep 9, 2011 - 8:27am

Rumor of new BAC solvency too

New gold supply, give me a break. How predictable. Obvious desperation ploy.

Sep 9, 2011 - 8:29am

gold margin hike by 40%

saw the below on my news feed from MNI, haven't seen any confirmation elsewhere as yet.

CME has hiked gold margins by 40%, effective end of business on 12/Sep.

Sep 9, 2011 - 8:31am


Spot on. But there is still a lot of fleecing of the masses left to be done. As we all know, they haven't even started to buy PM's. With JP Morgan's and others call for $2500 gold, there are millions of the masses that need to get in yet.

Once in and they go through a 20 to 30% drop, they won't be back for fear or more likely no funds left. They have no history or experience with the manipulation of the market.

Rinse and repeat a few times and the cake will be baked. Then the metals prices will resume their quest to $5K and up, and ultimately a portion of the reserve currency.


Donate Shop

Get Your Subscriber Benefits

Exclusive discount for silver purchases, and a private iTunes feed for TF Metals Report podcasts!

Key Economic Events Week of 5/20

5/20 7:00 pm ET CGP speech
5/21 10:00 ET Existing Home Sales
5/22 2:00 ET FOMC minutes
5/23 9:45 ET Markit PMIs
5/24 8:30 ET Durable Goods

Key Economic Events Week of 5/13

TWELVE Goon speeches through the week
5/14 8:30 ET Import Price Index
5/15 8:30 ET Retail Sales and Empire State Manu. Idx.
5/15 9:15 ET Cap. Ute. and Ind. Prod.
5/15 10:00 ET Business Inventories
5/16 10:00 ET Housing Starts and Philly Fed
5/17 10:00 ET Consumer Sentiment

Key Economic Events Week of 5/6

5/9 8:30 ET US Trade Deficit
5/9 8:30 ET Producer Price Index (PPI)
5/9 10:00 ET Wholesale Inventories
5/10 8:30 ET Consumer Price Index (CPI)

Recent Comments

by scoremore, 1 hour 22 min ago
by scoremore, 1 hour 45 min ago
by Texas Sandman, 2 hours 38 min ago
by scoremore, 3 hours 10 min ago
by Texas Sandman, 4 hours 52 min ago
by scoremore, May 26, 2019 - 11:52pm