Wed, Oct 5, 2011 - 10:30pm

Though the market for paper silver continues to be manipulated and schemed to the advantage of JPM and the other bullion banks, the market for physical silver continues to rapidly increase with each subsequent price decline. The message that the physical market is giving to The Cartel is clear: You may still win the occasional battle but, in the end, you are going to lose the war.

In what may seem a contradiction, The Evil Empire should be grateful for the position limits written into law by the legislation known as The Dodd-Frank Wall Street Reform and Consumer Protection Act. Though the CFTC has continually delayed imposition of the law, time is rapidly approaching where they will be forced to act. And, for the future solvency of the banks, not a moment too soon.

For it has become abundantly clear that global demand for physical silver is rapidly increasing. Demand is now so strong that traditional, seasonal patterns no longer have any impact. The primary driver of physical demand has now become the nonsensical price of paper silver, as determined by the Comex. Silver sales throughout 2011 have remained strong but, in a reversal of previous trends, demand has actually decreased as price rises and increased as price falls.

First, I offer you this from Harvey Organ and the "Silver Doctors":

"The silver metal is on fire with respect to sales. Last month we reported that the USA had sales of 4.4 million oz of silver. Today, the first day of recorded sales, the mint recorded over 3/4 of a million oz. My goodness demand is on fire!!!
The USA must use all silver produced from their mines first to make silver coins. The total supply from USA mining is around 40 million oz or about 3.3 million oz per month. After the mints are satisfied then all remaining supplies will satisfy the Comex, the jewelers, fabricators, and then investors who just wish to hoard silver bricks. If the mint uses up all of domestic supplies it must import silver from Canada and other nations.
But each nation uses its supply to satisfy its own jewelers and investors. No wonder the comex officials heads are spinning as their is a dearth of supplies around the world.

(courtesy silverDoctors)

from SilverDoctors by The Doc
Yesterday 10/3, the US Mint sold a whopping 737,000 Silver Eagle 1 oz coins in a single day!
To put this number in perspective, in Dec of 2010 with silver in the mid $20's, the US Mint sold a total of 1,772,000 Silver Eagles FOR THE ENTIRE MONTH OF DECEMBER! Yesterday, on 10/3, with the spot price of silver approximately $31/oz, the US Mint sold 737k Eagles, or 42% of sales for ALL of December 2010!

Sales totals for September are now in as well, at a massive 4,460,500 ounces for the month, the highest monthly sales total since January 2011 (during a massive take-down...seeing the connection here) by nearly 50%!!
If the yesterday's sales pace is continued throughout the rest of 2011 (not to mention the increase we would see with any further sell-off), the US Mint Silver Eagle sales would be nearly 50 Million ounces for the LAST QUARTER OF 2011!
In 2010, the US Mint sold a record 34.662 Million Silver Eagle 1 oz coins.

The current demand at the U.S. mint is simply a continuation of the strong demand seen in September:



The demand is not just a U.S.-based phenomenon, either:



As The Cartel are forced to decrease and/or eliminate their long-standing short positions, prices on the Comex will be left to rise as they finally begin to reflect physical reality.


Now, don't go getting all carried away and excited...yet. The Cartel still has a significant short position that needs to be covered and there can be no assurance that the CFTC will even meet on October 18, much less impose the Dodd-Frank limits. However, this is all nothing but an eventuality. In the end, exponentially increasing demand for physical silver will drive price well into the triple digits. Anyone utilizing this temporary decline in prices to stack additional physical will be well rewarded and protected against the coming, global economic calamity.

9:35 am EDT UPDATE:

A rather bumpy morning but prices are higher. Let's see how the day goes. Keep in mind the tomorrow is BLSBS day. Here's an interesting article I found this morning. It even discusses the PAGE. Btw, there were some rumors about PAGE that I'm happy to disprove. NO, the PAGE opening is not being postponed. It is still on track for Q4 this year.


Have a great day. TF

About the Author

turd [at] tfmetalsreport [dot] com ()


Oct 5, 2011 - 10:38pm

Apmex inventory

I was just looking at Apmex, and it looks like they still have a lot of silver in stock.

Could someone with Chrome run the numbers on their site so we can get a more complete view?

Northern Border
Oct 5, 2011 - 10:42pm


Ok fellow Turds now that I have your attention.

Right now on the History Channel Brad Meztler Decoded is doing a special on FORT KNOX !!!

Its un f ing real and has put a chill down my spine.


Oct 5, 2011 - 10:44pm

Fantastic Turd

This is great news from a demand perspective. Also, nice post, that is a lot of very pertinent information condensed into one post, something you a very adept a doing. This forum is really fun Turd. The collective "Turdville" knowledge is something to watch roll through on a daily basis. Really something very unique and special you have here. Iron sharpens iron here at the "ville", and everyday that passes my convictions about PMs grow stronger (although they were never weak to begin with) Thanks Turd! Thanks All!


Oct 5, 2011 - 10:46pm


isn't gensler facing a congressional hearing of some sort on this tomorrow?

not that those weenies will actually make him act or anything...

Oct 5, 2011 - 10:47pm

recent discussions with

recent discussions with Canadian suppliers indicate supplies are low and restocking is a daily/weekly challenge. Physical is going mainstream.

Oct 5, 2011 - 10:49pm

Well earned tribute

Not sure if this fits in this Forum, but when you think about it, it probably fits anywhere. Thank you Mr. Jobs...you will be missed.

Oct 5, 2011 - 10:50pm


Watched the show; Metzger is a bit too uptight. While riding in a van to scout out Ft. Knox, they freak when a Suburban with smoked windows and a large antenna flashed its lights behind them...WHILE THEY WERE IN THE PASSING LANE! The truck then passes without incident.

Nonetheless, it would have been nice to have mingled their show with Pisani's recent "visit".

Oct 5, 2011 - 10:53pm
Economical Disaster
Oct 5, 2011 - 10:53pm
Oct 5, 2011 - 10:56pm


Let me guess, the old vaults are full of canned hams..?

Rich MyGold Northern Border
Oct 5, 2011 - 10:57pm


Is it on youtube yet?

Santa's Elf
Oct 5, 2011 - 11:03pm

Gold vs. Silver

I'm guessing one of the drivers is the simple fact that with its increasing price tag, gold is simply getting out of reach for a large percentage of the population. Individuals waking up to the idea that one needs to protect oneself have to turn somewhere. Who says silver isn't acting as a safe haven?

Dr Durden
Oct 5, 2011 - 11:04pm

Oh no you didn'

They're giving away commemorative gold on ebay lately. I'm picking up 1/4's and 1/2's in the $1500's net.

Just checked ASE monster boxes on APMEX. 22 of the 2011's in stock, the previous years have what they had last week - 1-3 boxes. Plenty of silver out there right now, not too sure what happens when/if we drop to $25 let alone $20. Madness...hide yo kids, hide yo wife!!!

Oct 5, 2011 - 11:07pm

Expecting government spending to lift the economy

Here is what happens to the economy if politicians keep on expecting government spending to stimulate it (rather than addressing debt level, economic competitiveness, and disparity of wealth):

Santa's Elf Dr Durden
Oct 5, 2011 - 11:09pm

@ Dr. Durden

I'll tell you what happens when/if we drop to $25, let alone $20....I burn through what dry powder I have left and seriously consider leverage buying (strictly speaking physical here)!

Oct 5, 2011 - 11:13pm

That's a bull market underpinning


thank you for digging out the statistics. That's what underpins a bull market: strong increase in demand based on fundamentals (negative real interest rates) and undervalued price (compared to monetary base which has increased 3.5x vs. 2008).

We need to have courage to buy Silver at $30. Suppose the final price is $150. If we buy now, it will quintuple. If we wait until it goes back to $40, it will only quadrupled. If we wait until it goes even more to $50, it will only tripled. Be greedy at low prices, and skeptical at high prices.

Oct 5, 2011 - 11:19pm

Excellent TF

Makes me want to order a couple more tubes of ASE's.

A tube of AGE's would be awesome to order. Someday maybe.

Captain Benny
Oct 5, 2011 - 11:23pm

As I posted in the forums...

Tulving announced they are moving 100,000 oz per working day on average since Sept 23! This is a massive amount of silver moving out of Tulving and into customer hands. Remember: Tulving is one of the big dealers, like APMEX and CMI...

Don't forget Tulving is ​still sold out of 90% coins. ​APMEX has a limited supply of 90% after being sold out most (or all?) of last week. Many large dealers are running short on 100 oz bars as well. APMEX was nearly sold out last week and was doing backorders on what they could. Provident metals entirely sold out of 100 oz (just added some more today, it appears). Tulving only lists a few 100 oz bars...

Bill Haynes at CMI said on KWN that premiums on even 90% were going up... looks like he's right as usual...

​Physical is saying something. Pay attention fellas....

Oct 5, 2011 - 11:27pm

Wynter up again...who is listening >?

She / He ? is calling for 45 $ oz by November 30 2011. However not respect going her/his way..

Silver will be above $45 before November 30, 2011 3-Oct-11 02:00 pm

Is that specific enough for everyone?

Our group GUARANTEES that silver will trade above $45 by November 30, 2011. No caveats, no excuses. The charts arent saying so but we are stating that silver will be above $30 by November 30, 2011.

To Blythe and The Morgue, we know what is going on and know with CERTAINTY that you cannot stop us.

For those short on patience we will demonstrate that The Morgue is not the only one who can spike the price of silver!!! We will be spiking silver in the same manner as The Morgue did soon. Don't necessarily assume that the spike will be up, so watch those stop losses.

.............do da, do da.............
Oct 5, 2011 - 11:28pm

Cramer show today

I never watch the show( I swear ). He interviewed Sanders about how ineffectual the CFTC was in regards to the evil oil speculators who are responsible for the high price of gasoline. They said if it wasn't for lax regulation oil would be much lower due to excess supply and lower demand.

Also alluded that the price of other commodities (corn,wheat) would be lower as well, if Gensler and the CFTC would do their job. Cramer said Obama should order Gensler to regulate them. GMAFB!

There's an old saying that whatever a banker says is a lie and the opposite is true. Well this whole interview was exactly back asswards.

No mention of gold/silver/copper margin hikes. No mention of margin decreases on financials. Whatever they say just flip it around and you have the truth. Not news to those in T-Ville, but I had to vent.

BTW, ditto Benroberts accolades for all those posts today.

Bay of Pigs
Oct 5, 2011 - 11:29pm

Bring it on TF...

Great post. Thanks for being a steady, clear and strong voice on this particular issue. Some people don't seem to really understand what it means.

Demand will trump everything else in the end.

Santa's Elf
Oct 5, 2011 - 11:30pm

The Gold Problem - 1976

Former Secretary of Agriculture, Ezra T. Benson made this assessment back in 1976. Forgive the lengthy quote, but it has some citations about the role of silver, hyperinflation, etc. and seems eerily relevant to today's events:

"The pending economic crisis that now faces America is painfully obvious. If even a fraction of potential foreign claims against our gold supply were presented to the Treasury, we would have to renege on our promise. We would be forced to repudiate our own currency on the world market. Foreign investors, who would be left holding the bag with American dollars, would dump them at tremendous discounts in return for more stable currencies, or for gold itself. The American dollar both abroad and at home would suffer the loss of public confidence. If the government can renege on its international monetary promises, what is to prevent it from doing the same on its domestic promises? How really secure would be government guarantees behind Federal Housing Administration loans, Savings and Loan Insurance, government bonds, or even social security?

"Even though American citizens would still be forced by law to honor the same pieces of paper as though they were real money, instinctively they would rush and convert their paper currency into tangible material goods which could be used as barter. As in Germany and other nations that have previously traveled this road, the rush to get rid of dollars and acquire tangibles would rapidly accelerate the visible effects of inflation to where it might cost one hundred dollars or more for a single loaf of bread. Hoarded silver coins would begin to reappear as a separate monetary system which, since they have intrinsic value would remain firm, while printed paper money finally would become worth exactly it's proper value--the paper it is printed on! Everyone's savings would be wiped out totally. No one could escape.

"One can only imagine what such conditions would do to the stock market and to industry. Uncertainty over the future would cause the consumer to halt all spending except for the barest necessities. Market for such items as television sets, automobiles, furniture, new homes, and entertainment would dry up almost overnight. With no one buying, firms would have to close down and lay off their employees. Unemployment would further aggravate the buying freeze, and the nation would plunge into a depression that would make the 1930s look like prosperity. At least the dollar was sound in those days. In fact, since it was a firm currency, its value actually went up as related to the amount of goods, which declined through reduced production. Next time around, however, the problems of unemployment and low production will be compounded by a monetary system that will be utterly worthless. All the government controls and so-called guarantees in the world will not be able to prevent it, because every one of them is based on the assumption that the people will continue to honor printing press money. But once the government itself openly refuses to honor it--as it must if foreign demands for gold continue--it is likely that the American people will soon follow suit. This in a nutshell is the so-called 'gold problem.”

CLOUD BURSTER Economical Disaster
Oct 5, 2011 - 11:30pm


i didn't know it was news that the CIA kills people

Prize Fighter
Oct 5, 2011 - 11:38pm

Thanks Turd, those are eye

Thanks Turd, those are eye opening sales numbers. I checked out Silver Doctors site and according to their chart, as of October 3rd, the US Mint has sold 34.14m ASEs. Just 1/2 million shy of the record 34.662m sold in 2010. That was two days ago. If sales have continued anywhere close to Monday's 3/4 million mark, then I'd say we have a new record with months to spare.

cpnscarlet ¤
Oct 5, 2011 - 11:39pm

@DPH - Little by little, pal.

@DPH - Little by little, pal. Then you can buy an empty AGE tube on EBay and pretend you bought them all at once!

Oct 5, 2011 - 11:48pm

Sympathy for Gen-Y

Being a Gen-Xer, I heard a lot of talks looking down at our Gen-Y youth, such as they are too lazy, too easy to use credit cards and get into debts, too embedded in the virtual world and not enough real world, too entitled, etc.

Recently I have grown more symptathetic toward them. Some of the complaints about them are true. But we must also consider that the recent economic hardship falls especially hard on them. Their true unemployment rate is close to 25%, due to recession and also due to competing for jobs with boomers. They are saddled with massive student loans that they have to repay, courtesyof financialization of our economy which they didn't cause.

​Looking at the OWS movement, quite a few of them get what's wrong with our country. I think some of them are bright and well informed. Certainly I didn't know as much when I was their age.

Some of them face enormous challenges to start a career. For example, some want to start farming, but it just takes so much money to be a farmer these days. Take a look at the following piece

"It has gotten more difficult with prices as they are today — even with the good prices for grain, I think it's more difficult for a young person to get started," Rogers says. ... There were nearly 180,000 farmers younger than 35 in 1997. A decade later, that number fell by a third, to fewer than 120,000. " ... The biggest challenge, at least in my position coming out of college with no assets to my name, pretty much, no money, and trying to get a loan for $50,000 or $80,000 or more just to start a business — it's not going to happen unless you have a co-signer," Wildman says. "My parents are willing to co-sign on something right now, but it's got to be something that's going to [have] cash flow itself — it's got to be able to work."


It's not that they do not have idea or are not creative. But things are stacked against them. I saw the following project on Solar Decathlon's competition, and came away impressed with the ingenuity of our youngsters.

Tennessee's Solar Decathlon 2011 Video Walkthrough
Oct 5, 2011 - 11:49pm

There is more about this than

There is more about this than just the financial aspect I feel. Just trying to balance things out when I smell fear turning to greed.

Less stuff, more happiness | Graham Hill
Big Waves and Wipeouts
Oct 5, 2011 - 11:50pm

Maybe this will

Maybe this will resonate.

Anonymous Vows NYSE Attack to Support Wall Street Protests - Bloomberg

Oct 5, 2011

"Anonymous, a group of self-styled hacker-activists behind attacks on corporate and government websites, vowed to support the Occupy Wall Street protests by erasing the New York Stock Exchange “from the Internet” on Oct. 10."

Change may be coming sooner than we expect.

Oct 5, 2011 - 11:50pm

Bulls and Bears

On the other side of the Wynter coin is SC from Cyclical Market Analysis, who was calling for $4 silver next year (revised I believe to $6.50). Interestingly enough if you average both of these outlying predictions you get $25.75, which seems to be about what everyone else is expecting and where we'd likely see massive buying and possibly shortages in coin stores as well as the major websites.


Oct 5, 2011 - 11:52pm

Silver is in complete control

Silver will make it's own way in It's own time. It is not going to be because the world fiat system (black horses) failed in their efforts to control Silver. Silver is in complete control, It's timing is, and will be perfect. Keep watching, and stacking, and 2tim2.15ing in preperation for the zech6.6 horses that go forth after them....


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Key Economic Events Week of 4/15

4/16 9:15 ET Cap Util and Ind Prod
4/17 8:30 ET Trade Deficit (Feb)
4/17 10:00 ET Wholesale Inventories
4/18 8:30 ET Retail Sales (March)
4/18 8:30 ET Philly Fed
4/18 10:00 ET Business Inventories (Feb)
4/19 8:30 ET Housing Starts and Building Permits

Key Economic Events Week of 4/1

4/1 8:30 ET Retail Sales (Feb)
4/1 9:45 ET Markit & ISM Manu PMIs
4/1 10:00 ET Construction Spending (Feb)
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4/5 8:30 ET BLSBS

Key Economic Events Week of 3/25

3/26 8:30 ET Housing Starts (Feb)
3/27 8:30 ET Trade Deficit (Jan)
3/28 8:30 ET Q4 GDP final guess
3/28 10:00 ET Pending Home Sales (Feb)
3/29 8:30 ET Personal Income (Feb)
3/29 8:30 ET Consumer Spending and Core Infl. (Jan)
3/29 9:45 ET Chicago PMI
3/29 10:00 ET New Home Sales (Feb)

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