Profanity-Laced Tirade

Thu, Nov 17, 2011 - 11:01am

Oh, how I would like to launch into one. What we have seen recently, and what we are currently witnessing, is the most blatant and disgusting manipulation of the metals I've seen. That it is allowed to stand without question by the CFTC, the SEC and the media sickens me to the point of nausea.

However, for the sake of our none-Fbomb-loving readers and in the spirit of inclusiveness, I will do my best to avoid lacing this post with the profanity it deserves. Let's instead just simply lay it out chronologically:

(Before we start, full disclosure: I do not currently have any positions. Heck, I don't even currently have a broker. I do not have an ax to grind regarding trading losses. I'm simply disgusted by the ongoing corruption.)

1) In the wake of the S&P downgrade of U.S. credit, gold rallies from 1650 to 1920 over a period of six weeks, primarily on the back of Cartel short-covering. New longs also enter the gold market as gold and the Swissie are viewed as the only "safe havens".

2) This absence of sellers panics The Cartel. They petition their friends at the CME to raise margins.

3) Gold trades back to 1750 but then rebounds almost as quickly.

4) The rallying Swissie frightens the Swiss and unbalances the currency trade in Europe.

5) The Swiss decide to devalue their currency by 10% by pegging it to the euro. Knowing this will cause a steep rally in the only remaining "safe haven", a dastardly plan is put into place.

6) The Swiss announce their plan in the overnight (U.S.) following a U.S. bank and government holiday.

7) Five minutes before the announcement is made, the Swiss National Bank sells a massive quantity of paper gold, causing gold to drop over $50.

8) This has the desired, counter-intuitive effect of suppressing what should have been a massive gold rally on the back of the Swissie devaluation.

9) This also "saves" The Cartel from a runaway gold price that would have likely smashed through $2000.

10) The Cartel springs into action, forces the downward momentum, gets some additional margin hikes out of the CME and down goes gold, falling from 1923 to 1525 in 15 trading days. Over the same time period, JPM puts the wood to silver, taking it from 44 to 26.

11) All the while, the world geopolitical and economic landscape continues to deteriorate.

a) U.S. economy in toilet. U.S. government total debt reaches $15T. Blah, blah, blah.

b) Europe in crisis. Dexia, Greece, Italy, France. Blah, blah, blah.

c) The Middle East on the brink of war. New IAEA report shows Iran close to nuke. Blah, blah, blah.

d) Chavez repatriates 100 tonnes and other central banks are massive net buyers of gold. Blah, blah, blah.

e) Rioting, protest and insurrection is seen around the globe. Blah, blah, blah.

f) Blah, blah, blah.

12) Gold and silver rebound. Gold back to 1800 and silver back to 35.

13) MFing Global blows itself up, effectively removing, seizing and/or freezing thousands of futures traders accounts. This destroys confidence in paper markets and removes potential buyers.

14) MFing Global assets seized and stolen by JPM to be liquidated and confiscated for their own use.

15) As we approach the December option expiry, JPM and other Cartel members begin to actively sell and suppress gold and silver. Despite increasingly strong fundamentals, the PMs are pressed lower, perhaps to the point of collapse.

Will they collapse? That is the question, now isn't it. It certainly looks like they might.

I'm on record as looking for a November high in gold between 1780 and 1840. I split the difference and called it 1810. The high, so far is 1805. That may be as close as we get. With all of the uncertainty today...crude over $100, the impending failure of the "super committee", the future of the euro, just to name is down another $30. It is obvious that there is currently a deliberate and intentional manipulative event taking place. Where it stops, nobody knows.

Could paper gold and silver go lower from here? Heck yes they can! The evil C/C/C has:

1) Raised margins to nearly untenable levels.

2) Destroyed trader confidence and trust by closing MF and stealing clients asstes.

This leaves us with way, way more sellers than buyers and.....down she goes, regardless of the fundamentals.

So, what do you do. You definitely DO NOT trade on the LBMA or the Comex. These disgustingly-manipulated playgrounds of The Cartel will continue to be entirely manipulated against regular investors. They will continue in this manner until they finally collapse from the weight of their sins. WHEN they collapse, the value of physical gold and silver will skyrocket. Therefore, take this time to continue to add physical metal. Speed the demise of The Cartel by using their suppression against them. Take delivery. Add to your stack. Hold your metal in your own two hands. Only by physical possession can you be certain that you truly own it. Only by physical possession will we ever be able to crush the evil, soulless banking cartel. And I want to crush them so fucking badly that I can hardly see straight.


(at least I made it all the way to the end before unleashing the Fbomb)

p.s. All that said, I know many of you are looking for charts, nonetheless. So, here you go.

About the Author

turd [at] tfmetalsreport [dot] com ()


WYO Silver
Nov 17, 2011 - 12:44pm

Dave in Denver & Ranting Andy

Comments from both:

Dave said:

"Having said that, in studying the Comex open interest and inventories for nearly 10 years, I can say that the outright size of this inventory move by JP Morgan is unusually large and would suggest that JP Morgan is anticipating the probabilty of having to deliver a lot of silver for the December delivery month, of which JP Morgan is likely short at least 17k of the current 34k open interest, or 85 million ounces. Please note that there are still 9 trading days until the "first notice" day, November 30th, for December silver and I expect that the open interest will decline substantially between now and then. However - remember I like to look at the truth behind "however" - in order for the December open interest to get down to a level which represents just the total amount of registered silver - roughly 33 million ounces - the December open interest will have to bleed down to 6600 contracts. This is a big liquidation in just 9 days. I would suggest that JP Morgan's inventory behavior implies that delivery supply could get very tight this month. "

"I would also suggest that JP Morgan is making a very aggressive effort to manipulate the market lower. Make no mistake about it, every unusually large price-spike down in the intra-day trading is irrefutably JP Morgan traders manipulating the market for the purpose of trying to create selling by the funds who are long silver futures and thereby alleviate any delivery stress and accountability on JP Morgan and its CTFC certified illegal market activity. Oh ya, and ultimately accomplishes the ultimate Wall Street goal of taking money from your pocket and putting it in their own pocket."

Ranting Andy said:

"Speaking of take downs… hearing from reliable sources the BANKING CRIMINALS are going to take gold to 1575 and silver to 28 level for expiration on 22nd…just another attack amongst many…and the new COT says it all…"


Nov 17, 2011 - 12:44pm

The EE Desperate?

I'm sitting here thinking about this stuff and this thought pops into my pea brain. We keep hearing about the desperation of the EE and I'm having problems reconciling all the manipulation and the premise that the EE/Illuminati are at their wits end.

If we are to believe that this is all by design, then how can we entertain the notion that TPTB are squirming behind their desks wringing their hands? Am I to picture Blythe and Ruprect sweating in an office somewhere trying to get one up on all us little plebes?

I don't buy the line of thinking that spouts a loss of control. The individuals behind the curtain are indeed in control and are moving us towards their vision of a NWO with them in control and the best way to accomplish this is to reek havoc and cause a breakdown in the system to allow for a new system to be ushered in with the Oligarchs in complete control of the new system.

With this in mind would it not make sense to position oneself to capitalize on the mayhem and madness?

Stack PM's, buy tangibles and build a network of trustworthy, like-minded neighbors, family and friends to help you survive the transition to the coming of the NWO!


Nov 17, 2011 - 12:46pm

For those with short memories...

..the last time PMs went vertically upwards from where they are now, it was as a result of exuberance over the anticipated success of the Brussels European summit. Since that all fell apart, is it really that illogical to find ourselves back here?

Don't worry. The ECB is only a couple of weeks or months away from announcing some serious money printing. Make Bernananke look like an amateur.

Nov 17, 2011 - 12:46pm

Austrian/Keynesian rant

I guess its time for me to let this out, its been building ever since the Austrian/Keynesian debate awhile back.

We were in a Keynesian phase for many years, only the stimulus was for defense, wars, crony capitalism across the globe, and pallets of dollars for Iraq stolen by crony contractors. I could go on and on including bridges to nowhere. In my neighborhood it was bike trails that were shovel ready stimulus. That money is gone forever.

At the same time we still had laissez-faire capitalism, both an Austrian school and Libertarian concept, when many of the conventional banking regulations were basically destroyed. Glass-Steagall allowed the banks to morph into the TBTF position that they are now in. The uptick rule could easily have been adjusted digitally, but was done away with, in part allowing the computer algorithms to more easily take over. What gets me going the most is when they passed the Commodity Futures Modernization Act effectively legalizing credit default swaps. CDS' should never have been allowed to be legal, but they were because after all, these entities are quite able to regulate themselves. Greenspan, what a douche! Rubin too. And while a CDS is touted as a form of insurance, it is not. Default Swaps violate the basic law of insurance in that they are allowed to be purchased without any insurable risk and they do not require the capital set aside that insurance requires. Now we have more craziness with this relaxed law by the CFTC.

All of us, all over the world are being pushed into Austrian style austerity. We have to do that right? And here in the US it is in order to pay for our military, military bases and pay our corporate interests around the globe. At the same time we are so generous to give Africa this wonderfully genetically modified corn as USAid by an organization which also doubles as a CIA front to protect American corporate fascist interests. Unfortunately the time for Austrian school style austerity to work has now passed because the debt can never be paid no matter how much austerity is put in place.

So here we are with CDS' and all of their counterparty risk making it impossible for a little country like Greece to default without imploding the whole system. At the same time my understanding is that the legal covenants on these swaps had been weakened as well. I am thinking that this all has been done by design to blow the whole thing up in order to bring about a new world currency.

Additionally we now have a dual legal system in which corporate commercial law is quickly superseding our constitutional and common law. Legal files and precedents are being destroyed as I write, its just too expensive to keep them and archive them. And while this beast has risen out of the sea we haven't seen anything yet as to what this beast will eventually come into power and do.

Some people think that guns and bullion will protect them from what is to come and some of this may help. There are others who thing that some kind of a Maccabean revolt will protect them, but we are so far beyond anything like that. Don't get me wrong, guns may protect you from other roaming citizens trying to rob you when the infrastructure breaks down, but they won't help if an entity of State, or one paid by the State, comes after you.

That is my rant. I am not an expert on this stuff and I am not nearly as educated as most on this board so please feel free to correct anything that may be off a bit and add whatever important aspects I have left off if you want, or not.

Anyhow, I have kinda have lost my sense of humor. I need to get it back somehow. Getting this out may help. Perhaps when I feel better after having been around young children and their snotty noses, my attitude will change. I've been bouncing between anger and its flipside, sadness for awhile now. The world is pretty messed up. (I refrained from the f-word this time, I've used it in the past, but hit my daily F-bomb limit about an hour ago. :-)

Nov 17, 2011 - 12:48pm

counting on the chinese below

counting on the chinese below 1700

Nov 17, 2011 - 12:50pm

I wouldn't count on the Chinese for anything

I'm sure they'll be buyers, when the price is right though. I wouldn't make any assumptions about what price that is.

Heck, I'll be a buyer again when the price is right too.

Nov 17, 2011 - 12:51pm

email Bart

Everyone email bart and ask him if he received any notification of what was about to come. maybe the CTFUKC should make a statement on today's action. 6% drop--crazy

I Run Bartertown
Nov 17, 2011 - 12:51pm


A message that can unify and transcend beyond politics. It kills the Fed that many here want dead, it kills the TBTF banks that the left wants dead.

Default. That should be our demand. Russia is better for it. Iceland is better for it.


Nov 17, 2011 - 12:51pm
Nov 17, 2011 - 12:52pm


For the love of Pete.....NO!!!! This might get far, far worse from here. Yes, gold might bounce at 1705. It might. Chances are much higher that everything with MF Global was done to lead us to exactly this point. A colossal calamitous shakeout may be coming. BE VERY CAREFUL!

Nov 17, 2011 - 12:54pm

Paulson selling GLD two days in advance.

Looks like, smells like...

(by the way first post)

Nov 17, 2011 - 12:55pm

Thanks to everyone here

For my first post I wanted to thank everyone for the mental comfort provided by this site. Days like today are a challenge to one's spirit but it certainly helps to have a community of people like you guys to share with.

Nov 17, 2011 - 12:55pm

just noticed DOW was down 250

just noticed DOW was down 250 guess someone liquidated metals

Nov 17, 2011 - 12:56pm

Look out below...

Man, this is just plain ugly watching the PM charts!!!

Edit: TF, you better amend your earlier call, it's TIMBER today!!!

Nov 17, 2011 - 12:56pm
Nov 17, 2011 - 12:56pm

pslv goodbye zsl hello!

can't believe in my luck in getting out of pslv yesterday and into zsl today. hope to hold zsl until 14.26 we'll see tommorow.stops set ready to load up on phizz. watching pivots doubt my wife will be pissed because i'm watching a computer screen instead of finishing our slate floor . guess i'll have to buy her a silver braclet!

Nov 17, 2011 - 12:59pm

Pretty much sums up my opinion on it too

The futures and options markets are no longer viable. It is my recommendation that ALL customers withdraw from all of the markets as soon as possible so that they have the best chance of protecting themselves and their equity. The system is no longer functioning with integrity and is suicidally risk-laden. The rule of law is non-existent, instead replaced with godless, criminal political cronyism.


The key thing to keep in mind with this is that what you are seeing is related to CREDIT risk, not MARKET risk. Basically you are seeing the destruction of the MARKET - not the underlying.

This is NOT going to end well. And it's not just gold/silver either! Futures markets act like capacitors, smoothing out the spikes in price of the underlying. And now all those capacitors are being yanked out of the board. This will start showing up in many places, like the grocery store at some point.

When that point is, I do not know. But it will.

Nov 17, 2011 - 12:59pm

even SHORTER memory..

Just peeked at a Silver chart in late September '11 when it dumped a few $. Then on Oct 1, supposedly, a boat-load of Ag was purchased from the US Mint ...ASE's.. biggest one day purchase.. something well into the hundred's of thousands of oz's.. Any turdite have details or can verify this? If verified, looks like we might be setting up a similar scenario where the elite dirtbags BTFD they create!!... Patience and dry powder may pay off this time and I look forward to Turd's bottom announcement!

Remember that old Burl Ives song on the stop motion TV special "Rudolph?" "Silver & Gold, Silver & Gold" hmm.. something to think about.

Nov 17, 2011 - 1:06pm

Puts Puts Puts

If you're paper trading, like many of us are, it doesn't hurt to hedge with puts. They're cheap and can save you in a crash and to me, it looks like we're headed that way.

Nov 17, 2011 - 1:07pm
Prize Fighter
Nov 17, 2011 - 1:09pm

Well I just ordered some.  1

Well I just ordered some. 1 of 6 planned buys for this last big shakeout. Have plans to buy down as far as they'll let me. Waiting for ~$30 for part 2. I was waiting for this yardsale but none of us knows how quickly political/print solutions will be implemented. Fade in/fade out.

Nov 17, 2011 - 1:11pm

mucho garcias turd

for that emphatic answer to my buy now button question

will hold off on the purchase until tomorrow or beyond

man is it tempting though (you do know I meant physical, right?)

Nov 17, 2011 - 1:13pm

I'm considering buying at $30-$31

Might have to consider making a purchase at $30-$31 today (premium included) and front-load the rest of the years regular purchases into today.

Obviously the LCS locks everything up in the back at these prices. But luckily the online vendors are not so quick on the draw!

If I could get 50 oz today from Lear Capital at $30-$31 that would really help average our cost down from this spring. And since I have a "new" phone number and email I could use that free shipping code too (that I found and posted page 1 - 8D44D ).

Maybe write them a nice personal check and figure out the financing while the check's in the post for 3 days.

In a critical collapse scenario (which probably isn't today) I'd sell everything except the wife the kids and the pets if it really came down to it.

(Gainesville premium is a little cheaper today on eagles but not on maples and we like maples. .9999 fine baby ;) Besides I like letting the USPO float a check through the mail for a couple days while we get the money lined up)

Nov 17, 2011 - 1:13pm

Jim Sinclair on MF Global

Jim Sinclair had a comment on MF Global today:

Sinclair's belief is that JPMorgan used its MFG patsy to anchor derivative trades, that just happened to be long sovereign debt in Europe. Nobody in his right mind, even a Corzine of GSax pedigree would place such large wrong trades unless obligated as a syndicate cog in the machinery...JPM was named to the MFG creditor committee despite also having a $300 million secured loan against the MFG brokerage unit, a position pitted against other unsecured creditors in an obvious conflict of interest. JPMorgan slapped a lien on MF Global assets in an audacious maneuver. A formal dance is in progress, where the public is amateur. Lack of cooperation has been given by MF Global so far. Witness a possible hidden derivatives meltdown, as the European implosion has a conduit to the United States.

The derivative angle is very interesting. JPM could have set MFG up to fail leaving JPM as beneficiary to many billions in derivatives coming from Europe. JPM could be using MFG to loot European banks/sovereigns, or it could be payback for a double cross put on MFG regarding the unannounced moves by the European cartel regarding the SNB and Greek default. Since the takedown of MFG essentially marks the beginning of the end of commodities trading, their theft was a one-time, irreversible action amounting to the destruction of confidence in market brokers. Since it was such a big deal, there would have to be enormous pay-off to make it worth while, and it would have to be close to the end of the scheme, because they now likely will not get much more from investors than they have already stolen (one wonders if they got the Wynter Benton group's account money). On the other hand, they will have a free hand with the markets since no one wants to take a chance with them, and may use this opportunity to take silver and gold down to levels where they can unload their mountain of shorts, probably at a nominal profit. If that's the case, this takedown should go to the low 20s, as that is reportedly where JPM picked up most its shorts.


Nov 17, 2011 - 1:15pm

thanks Pablo

Thanks for the coupon codes. I noticed when I bought from Lear last (which was my first time with them) that they had some kind of disclaimer about polishing the metal that you have to agree to in order to purchase online. Is that normal? Does shining it up effect the value if it is not a collector coin? They also have some bad reviews online, mostly about pushing off collectibles in a bait and switch for more $$, but I think they have tried really hard to correct that. I imagine those of us who know what we want should be OK when ordering there. Just want to put a caution out there for any other newbies not to get on the phone and let them talk you into something that is priced for a collector especially if you don't know the collectible numismatic market well, which I will be first to say I don't.

Nov 17, 2011 - 1:15pm

These people did not advocate

These people did not advocate violence either, it was the only choice they had left.

Nov 17, 2011 - 1:17pm

It sucks

being ruled by a bunch of rooster sucking pieces of f**kin shit. Please don't tell me that the top main leaders in this world are trying to do 'good.' There is no way... 'they' are so on the other end of the spectrum it is disgusting.


And then tomorrow the 'TWILIGHT - Breaking Dawn' comes out for all those obsessed and lover's of Vampires, especially as of late. Its cool (sarc) to be the walking undead and being a killer. You get to live forever - big deal (who wants that, salvation in death) Oh, and I heard the chick gets pregnant in the movie . Ummmm, how is that possible?! Evil can't create - they can only lie and deceive... like with the PMs... they cant create it - just lie and deceive us...

But back to Vamps for one last sec...

Not only that - Vampires don't even have blood circulating in there VEINS - therefore, they can't even get an erection! So when those girls and/or 'whatever's' think about Vampires and how cool they are - they might as well fantasize about a limp d**k... and zero sperm. Yeahhhh - Vampires are really f-kin cool...


Ahhhhhh...rant off



foggyroad mountain.woman
Nov 17, 2011 - 1:18pm

Welcome Airgead and mountain.woman

Greetings and Well Wishes from Turdville, Come on in And Stay Awhile :)

Mr. Hyde
Nov 17, 2011 - 1:18pm


I have to tell you I'm so mad I can't see straight. But as mad as I am, I just got off the phone with Turd, all the years I've known him, I have never heard him even half this worked up and angry. Be careful out there, it's very likely this gets much worse before it gets better.

Torpedo Fish
Nov 17, 2011 - 1:21pm

bull trap

bull trap or the shit just bottomed ?


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 3/18

3/19 10:00 ET Factory Orders (Jan)
3/20 2:00 ET FOMC Fedlines
3/20 2:30 ET CGP presser
3/21 8:30 ET Philly Fed
3/22 9:45 ET Markit PMIs
3/22 10:00 ET Existing Home Sales
3/22 10:00 ET Wholesale Inventories (Jan)

Key Economic Events Week of 3/11

3/11 8:30 ET Retail Sales (Jan)
3/11 10:00 ET Business Inventories (Dec)
3/12 8:30 ET CPI (Feb)
3/13 8:30 ET Durable Goods (Jan)
3/13 8:30 ET PPI (Feb)
3/14 8:30 ET Import Prices (Feb)
3/14 10:00 ET New Home Sales (Jan)
3/15 8:30 ET Empire State Manu Index
3/15 9:15 ET Cap. Util. & Ind. Prod.

Key Economic Events Week of 3/4

3/5 9:45 ET Markit and ISM services PMIs
3/5 10:00 ET New home sales (Dec)
3/6 8:30 ET Trade Balance (Dec)
3/7 8:30 ET Productivity and Unit Labor Costs
3/8 8:30 ET BLSBS
3/8 8:30 ET Housing starts (Jan)

Recent Comments

by NW VIEW, 14 min 12 sec ago
by Turd Ferguson, 46 min 7 sec ago
by boomer sooner, 1 hour 5 min ago
by Trail Trekker, 2 hours 5 min ago
by NW VIEW, 2 hours 17 min ago