Mon, Oct 31, 2011 - 4:16pm

It's Monday afternoon. What a perfect time to do some housekeeping. I've got a few things here I've been meaning to mention so, here we go.

First, some longer-term charts. Take a look at the long-term Pig. Even with today's rally, nothing much ever changes. The POSX has been rangebound for over five years now. This means that, relative to all of the other fiat currencies in the world, Pigatha has held its own.

Ahhhh, relative to all other fiat currencies. However, relative to true money, the ancient money of kings, The Pig has declined considerably. Note that, over the same time period, gold has appreciated about 170%. Priced in dollars, gold has risen from roughly $600 to $1600.

And silver has appreciated about the same percentage amount, in dollar terms, rising from about $13 to $34.

Of course, don't even bother trying to tell CNBS, your stockbroker or your father-in-law this stuff. Until it all comes crashing down, they'll continue to maintain that the only "true safe havens" are the U.S. dollar and dollar-denominated "assets" such as treasury bonds and certificates of deposit.

OK, next up is this terrific piece of work from Jeff Nielson at BullionBullsCanada. It was Jeff's drumbeat that first alerted me to the fraud that is GLD and SLV and he's at it again here. Please take the time to read this carefully and then pass it along to anyone you know who is foolish enough to own shares of these shams.

And then there's this, which I got from turdite "strobe". Obviously, I've disregarding the "Canada-only" part:

"Hi Turd, I have a bit of news on a new gold fund that will soon be launched in Canada. I have a contact who works in this area and they've been keeping me up to date on this product. The press release was for distribution only in Canada so I didn't post it on the forums, but thought you might be interested. Looks like it will target the same market as PHYS.

The latest I've heard is that the Mint will start their roadshow next week and the first tranche will close on Nov 22. One share will be C$20 and represent a fraction of an ounce to be calculated at closing. They wanted to split shares into 1/100th but decided it was too much logistical headache. Mint takes 0.35% annual service fee. Guess we'll see how closely this tracks physical in the next few months."

Lastly, a friendly turdite contacted me last week and offered a free trial in his service to any fellow turdite who would like to give it a try. It's a equity trading site and it can be found here:

Here are his instructions for anyone who wants to give it a spin:

"What we should do is tell anyone who's interested to send a note to contact[at]stockreflex[dot]net saying "Turd Sent Me" and I'll send them back a registration code. I'll keep the opportunity open for 7 days for anyone who wants in."

Oh, and one more thing...about this whole MF Global situation. As you know, I've always had my option account at Lind-Waldock and Lind was recently purchased by MF Global. Now, MF Global is apparently going out of business. For now, MF has assured me that my puny little account is safe. The cash is held separately and my so-far-out-of-the-money-they're-basically-worthless positions will soon be transferred to another broker/dealer. As soon as I settle on a new broker, I'll be sure to let you know.

Have a great evening! TF

About the Author

turd [at] tfmetalsreport [dot] com ()


Vernon Wormer
Oct 31, 2011 - 4:21pm

Great post Turd. Thanks for

Great post Turd. Thanks for all you do.

Oct 31, 2011 - 4:22pm

MF Bankruptcy?

MF bankruptcy...

they are a PD, right?

Is this a Lehmann event? I have been in class all day and missed the news.

Oct 31, 2011 - 4:27pm
Oct 31, 2011 - 4:27pm

Thanks Big T

Another valuable update that's appreciated by all of us. That probably took some time to compile. Be cool with the MF thing.

Personally, I'd be a nervous wreck about it but then agian you know more about how that works out with your background in the business. Good luck.

I hear you on the nearly valueless OTM's.... a common trait many of us have maybe and wish we didn't share.

Bay of Pigs
Oct 31, 2011 - 4:41pm


Thanks, it is much appreciated. Always such a clear and consistent message.

Great stuff Turd. Thumbs up!

Oct 31, 2011 - 4:41pm
Green Lantern
Oct 31, 2011 - 4:42pm

MF Global

Turd, Thanks for passing along all this great list of information. GLD and SLV very timely to send to a friend. And the stockflex is much needed by this trading dummy. And thank you to the Turdite offering the free subscription.

I have my option account with another firm but things like this concern me. How safe are any of these online investment institutions for those investing in the miners like Fidelity, Schwab, ETrade, Vanguard, Ameritrade Etc....? Many of these accounts are not FDIC insured, of course that's little insurance when the people insuring it are already broke.

Has anybody else given this any thought? Or is this just the concern of the paranoid and delusional?

Oct 31, 2011 - 4:45pm

Beautiful Perspective TF

Well done TF. Great comprehensive perspective. Not much more to say other than with every post of yours there is further galvanization that we are on the right side of history.


Oct 31, 2011 - 4:51pm
The Doc
Oct 31, 2011 - 4:55pm

Silver All in Strong Hands Now?

Turd- observed a conversation w/ some extended family members over the weekend regarding silver- several of them boasting about how much they had sold pre-1964 silver coins for that had been collected decades ago and been saved for years nearly 30 years waiting for "high prices". This makes the 3rd similar convo I've had this summer. I think silver's action trading up to $50 over the past months and now consolidating in the $30-$40 range has brought out almost all of the remaining supply from weak hands that had been held for decades.
Personally, I think all remaining phyzz is now in STRONG HANDS- meaning on the next silver rally when demand increases, there will be no coinciding increase in supply from long holding weak hands- meaning silver's shortage may quickly tighten severely- and result in the biggest and fastest move up in the bull market to date.
Interested in whether you agree that most of investment silver has now been flushed from weak hands.

Oct 31, 2011 - 5:03pm

More MF

More MF material. This will not be a bad thing for treasuries in the short run.


MF Global is first big US victim of Europe crisis

MF Global files for bankruptcy protection, becoming first big US victim of Europe debt crisis

WASHINGTON (AP) -- The European debt crisis has claimed its first big casualty on Wall Street, a securities firm run by former New Jersey Governor Jon Corzine.

MF Global Holdings Ltd., which Corzine has headed since early last year, filed for bankruptcy protection Monday. Concerns about the company's holdings of European debt caused business partners to pull back last week, leading to a severe cash crunch, the company said in papers filed in federal bankruptcy court.

Corzine, the former head of investment banking giant Goldman Sachs Group Inc., oversaw MF Global as it amassed $6 billion in debt issued by financially strapped European countries such as Italy, Spain and Portugal. Their bonds paid bigger returns than U.S. Treasury debt because bond investors believed that they were more likely to default.

Swift Boat Vet
Oct 31, 2011 - 5:03pm

Thanks Turdski

Thanks again my friend. My THIRD post today! A personal record!!!!

And now ..... back to my usual position, lurking in the weeds.


Nick Elway
Oct 31, 2011 - 5:04pm

“GLD”, represents a triumph of “bankster engineering”

Thanks TF!

From the BullionBulls article you linked:

'The SPDR Gold Trust, more commonly known by its NYSE ticker symbol “GLD”, represents a triumph of “bankster engineering” in the gold market. While it is supposedly a convenient way for small investors to hold “gold”, what it is actually is an extremely convenient tool for the banksters to dilute the investor dollars flowing into the bullion market, and thus delay the rise in the price of gold.'

At the end of the last thread we discussed that Comex gold can settle with GLD (since 2005), and BullionBulls did a good job of describing the risk of holding GLD

Harvey says of GLD and SLV. "You must be very careful in trading these vehicles as these funds do not have any beneficial gold or silver."

"bankster engineering" thus makes the COMEX a paper exchange too!

I'd think JPM's newly COMEX-approved vault has a role in this as well..

Oct 31, 2011 - 5:06pm
Oct 31, 2011 - 5:11pm

MF Global

I usually get about 8 or 10 videos a day on youtube subscription. I got 1 this morning then nothing.

Eric Original
Oct 31, 2011 - 5:13pm

Great Stuff Turd!!

Great Stuff Turd!!

Long term gold charts are the Holy Grail.

Video unavailable
Swift Boat Vet
Oct 31, 2011 - 5:16pm


Several thoughts and comments.......

Turd and all ..... Does SLV have anything like the 11-11-11 thingy in its prospectus? I doesn't seem to really matter, in that when GLD goes to hell in a handcart, I believe anything that even resembles it (including PSLV etc) will tank. Of course, the true trusts will quickly recover while the crap will go to nil.

Silverdoctor and all ..... I too, believe that silver has migrated into MUCH stronger hands, both in paper COMEX contract and very much so in the physical realm. Lately, I have personally only seen cash-strapped people selling at my LCS. No investor/stacker, that I've witnessed has liquidated.

Beinski .....YES!!! Dragons lurk beyond!


Oct 31, 2011 - 5:18pm

retail gold physical here

I found thanks to redwood a retailer that today offers 20 gram bar for 1868USD/oz.

100 gram bar piece for 1791 USD/troy oz.

Am I using the right measures? Hoe do you see the prices?

The producer is

Maple Leaf coin from Canada 1oz = 1886 USD

Australian Nuggets 1 oz = 1845 USD

USA Eagle 1oz= 1860 USD

They buy about 5% cheaper.

This includes VAT which is 22%-no , investment gold is tax free!

Oct 31, 2011 - 5:19pm

2012 The Beginning of the End Lindsey Williams

After the discussion on the last thread between Ivars & Katie Rose/BSD (apols to anyone else I haven't name checked) I went looking for the answer on the time frame of the Lindsey Williams previous interviews and found one he did a few weeks ago (having been off air for the last 3 months)

The Elite Have A Plan To Collapse The World Economy, Lindsey Williams

It's quite lengthy @1hr 20 mins. Some of this I have heard before but some of it I hadn't, so this is my summary for those who are interested:

NWO Elite have a 2012 plan of collapse (Lindsey would only say end of 2012 for timeline)

Plan Part 1: By end of 2012 Ole Pigatha will be dead (not as in non-existent but as in purchasing power so diminished that it may as well be). TPTB have intentionally postponed crash to create massive debt all over the world. It is they who are buying Greek debt bonds, propping up BofA, Citi, European banks knowing that they will default. Control is the name of the game as in own the paper own the country/state/city/bank. It is a debt trap. The US/Fed will default on its debt. Anything secured with paper will be destroyed, private fortunes, 401K's, IRA's, Mutual Funds, Stocks. Will continue to pay social security, welfare, food stamps as don't want riots but after the NWO collapse these will stop. Deliberate policy over the summer to cap the price of oil to stop riots or people waking up.

Advice: Get out of debt and secure your assets immediately - with gold and silver. Price has been dropped to allow the elite to back up the truck at cheaper prices. Oct 1 US mint sales of 3/4 m ASE's went to the elite. They are buying it by the tonne.

Plan Part 2: Having taken control of all debt based assets now then they will turn their attention to those who have so far escaped. If you cannot pay your taxes they will take your property. NWO currency will be backed by gold and silver as it is 'our' (the elite's) only choice for money. Gold will be allowed to rise to $3000 and silver to $75 to back the new world bank currency by the end of 2012.

Advice: If you own a farm/house/business outright make sure you have enough gold and silver to pay your taxes for the next 3-5 years. He advises to take action right now in buying as much silver and gold as you can afford before the prices are allowed to rise again.

Plan Part 3: A programme of fear has been initiated to keep the masses brain dead (fear shuts the brain down). Scare tactics to keep people compliant. Another event will happen just before their induced 2012 crash.

Advice: Ignore the scare tactics and think logically about the MSM news that you are fed.

Plan Part 4: 'Devil's Messiah' planned programme. The spiritual element of humanity needs to be minimised before the NWO comes into being and they are expecting something new in the spiritual world, or a spiritual manifestation. Peter 3:8 'But do not forget this one thing, dear friends: With the Lord a day is like a thousand years, and a thousand years are like a day.' People were expecting something in 2000 as this would be 6000 years however Jesus began his ministry at the age of 12.

Advice: For those who believe there will be divine manifestation or a presence that will give comfort during this difficult year.

So that's it although I may not have got all the detail right. Ivars that may explain the urgency to act now regarding PM purchases. I will be stepping up my buying programme. What use is paper if it will be even more useless in just over a years time?

Look forward to a discussion on it


Oct 31, 2011 - 5:26pm


Does this mean Jim Comiskey is on the street looking for a job?

Golly I hope someone of excellent rep picks him up. Perhaps Ron Paul will bring him under the wing.

DaddyO The Doc
Oct 31, 2011 - 5:27pm


Interesting perspective!

I can't tell you how many friends have sold their broken gold and silver over the last few months. I just keep stacking based on the amount of spending of the Central Banks. Years ago I met a gentlemen, Larry Burkett now deceased, who was fond of saying you cannot solve debt with debt. It is a universal non-commutable law, period.

Let TPTB continue on their merry way to their Luciferian panacea of a NWO and we will see how it all ends. In the meantime, I'll stick with the game plan of watching it all unwind and wading through the mess.


Oct 31, 2011 - 5:28pm

Turd transfer?

"my so-far-out-of-the-money-they're-basically-worthless positions will soon be transferred to another broker/dealer."

Transferred by ambulance, hearse or slow moving meat wagon? ;) Oh, and hope your broker search goes well. What a pain.

Hey, I have a position that is so emaciated it would need heavy IV infusion for any transfer. Maybe DOA. Actually it may be dead already. Hasn't moved or even gurgled in days.

Oct 31, 2011 - 5:39pm

Greece calls referendum on EU bail-out

Greece’s prime minister unexpectedly announced a referendum to approve a second EU bail-out deal for his austerity-hit country, less than a week after it was agreed with international creditors at a European Union summit. Short term Pigatha positive?

Oct 31, 2011 - 5:50pm

Ivars, this is taken from

Ivars, this is taken from Kitco, which may not have the best prices

maple leaf 1 oz.coin - 1783.32 cdn.

gold eagle 1oz. coin - 1810.49 cdn.

Dr G
Oct 31, 2011 - 5:55pm

Agreed about Mr. Comiskey.

Agreed about Mr. Comiskey. Hope he finds a happy home somewhere doing what he loves doing!

Dr G
Oct 31, 2011 - 6:05pm

Maybe already posted, but why

Maybe already posted, but why does MF owe CNBC nearly $1 million? All those that think we will find out, please raise your hands. Uh-huh, I see nobody raising their hands. Shocking.

campagnolo ivars
Oct 31, 2011 - 6:20pm

1 troy oz= 31.11 grams approx.

Ivars, looks the coins are a little bit expensive, you are paying in averange 1863 per coin, that is over 143 USD over spot right now, ouch!, that's too much. You should pay half of that. Is there any other coin-bars shop over there?

Ferd Torgerson
Oct 31, 2011 - 6:22pm

@ Green Lantern

I had a similar concern with my rollover that is with a large investment company. They showed SIPC coverage more than adequate to cover my account total. I called the company and they confirmed that I had more than enough coverage and said they had supplemental coverage over and above SIPC.

Just to hedge myself, I set up a separate rollover account and transferred about a half of my cash to an account with a second company that has strong financials. They also have SIPC coverage.

Not saying this is right for you but if you are concerned, you might consider splitting your money among two or three companies to spread your risk.

Just my own approach. Do what you think is right for you. Probably the first thing you need to do is to talk with your company like I did.

Oct 31, 2011 - 6:30pm
Oct 31, 2011 - 6:33pm

Buying Physical Silver

This newbie ran out of "dry powder" when I purchased a majority of my silver bullion at $40 in September . As a result, I was unable to accumulate very much at the lower $32 price in October.

Based on TF's analysis, the $US Silver price appears range-bound and may offer fellow turdites to accumulate additional bullion following the next dip.

Out of curiosity, at what price-point are you looking to add to your collection? $32, $30, or lower?


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