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 ()


York Rite
Nov 17, 2011 - 2:49pm

@ Stormdancer

It occurred to me recently that I had no idea what the dictionary definition of a shill is. And I still don't.

Mine is someone who makes a statement that they know or believe isn't or won't become true.

I'd say that Sinclair certainly isn't a compliant one. But, dear me, he deserves criticism for those entries 'cause he's been wrong-footed and I would imagine plenty of CIGAs have been too.

Staying with my perception of what a shill is, I became - to use a UK phrase - sucked off with reading $2,000/$2,500 year-end gold predictions by some contributors here.

I thought they were lying and that they kept doing so only to foment frustration. To test their conviction, or complete lack of, I offered them a hefty wager ($50,000) with our host holding the stake. As anticipated, the gutless wonders declined.

Mercifully, having been smoked out, they haven't repeated their bullshit since then.

Economical Disaster
Nov 17, 2011 - 2:49pm

Soooo sick of the continued ALLOWABLE FRAUD

GE Filed 57,000-Page Tax Return, Paid No Taxes on $14 Billion in Profits 1:11 PM, Nov 17, 2011 • By JOHN MCCORMACK Single Page Print Larger Text Smaller Text Alerts

General Electric, one of the largest corporations in America, filed a whopping 57,000-page federal tax return earlier this year but didn't pay taxes on $14 billion in profits. The return, which was filed electronically, would have been 19 feet high if printed out and stacked.

The fact that GE paid no taxes in 2010 was widely reported earlier this year, but the size of its tax return first came to light when House budget committee chairman Paul Ryan (R, Wisc.) made the case for corporate tax reform at a recent townhall meeting. "GE was able to utilize all of these various loopholes, all of these various deductions--it's legal," Ryan said. Nine billion dollars of GE's profits came overseas, outside the jurisdiction of U.S. tax law. GE wasn't taxed on $5 billion in U.S. profits because it utilized numerous deductions and tax credits, including tax breaks for investments in low-income housing, green energy, research and development, as well as depreciation of property.

"I asked the GE tax officer, 'How long was your tax form?'" Ryan said. "He said, 'Well, we file electronically, we don't measure in pages.'" Ryan asked for an estimate, which came back at a stunning 57,000 pages. When Ryan relayed the story at the townhall meeting in Janesville, there were audible gasps from the crowd.

Ken Kies, a tax lawyer who represents GE, confirmed to THE WEEKLY STANDARD the tax return would have been 57,000 pages had it been filed on paper. The size of GE's tax return has more than doubled in the last five years.

Nov 17, 2011 - 2:49pm

Hmmmm,  looks like the end of

Hmmmm, looks like the end of the PM commodity markets to me. And of course, with a lot of screaming and scratching, the end of paper metals. I can't see any other outcome. In the meantime they will be able to drive the price down to nothing, as the EE will be the only players. I wonder how long it will take for them to realize they have destroyed their own game?

Now, for those of us who have been watching and trying to figure out how the paper metal game will end, isn't this interesting? It's happening in a way that I never read about anyone predicting, and that I personally never had a clue about as a possible path. It's all a confidence game, which I guess they truly don't understand. With confidence utterly destroyed, no game.

Nov 17, 2011 - 2:50pm

Thank you

For deleting...I hit save before my common sense kicked in.

Nov 17, 2011 - 2:50pm

Re: E mail address for CFTC Commissioners

BChilton[at]CFTC[dot]gov - you can figure out the rest of their emails from this one


Gary Gensler




Mark Wetjen




Scott O’Malia




Jill E. Sommers




Bart Chilton



Commodity Futures Trading Commission
Three Lafayette Centre
1155 21st Street, NW
Washington, DC 20581

202-418-5521, fax
202-418-5514, TTYquestions[at]cftc[dot]gov" target="_top" rel="nofollow">

Nov 17, 2011 - 2:52pm

I spit

on 'their' manipulation and bs raids...


*Paaaaa - tuiiiii* (spitting sound)



Economical Disaster
Nov 17, 2011 - 2:56pm


commodity markets are not going to end. These charades have been going on for years, as long as the US DOLLAR is around the commodity scam will continue. When a default occurs? Then its the END.

Be Prepared
Nov 17, 2011 - 2:58pm

Ms. Barnhardt Telling it Like It Is.....

​Posted by Ann Barnhardt - November 17, AD 2011 10:27 AM MST

Finally, I will not, under any circumstance, consider reforming and re-opening Barnhardt Capital Management, or any other iteration of a brokerage business, until Barack Obama has been removed from office AND the government of the United States has been sufficiently reformed and repopulated so as to engender my total and complete confidence in the government, its adherence to and enforcement of the rule of law, and in its competent and just regulatory oversight of any commodities markets that may reform. So long as the government remains criminal, it would serve no purpose whatsoever to attempt to rebuild the futures industry or my firm, because in a lawless environment, the same thievery and fraud would simply happen again, and the criminals would go unpunished, sheltered by the criminal oligarchy. (The Rest of the Story)

Wow, is all I can say. It is a rare person, within their industry, decide to stand tall and say it like it is.......closing their business because their beliefs and morality rule above the almighty buck. Bravo, Ms. Barnhardt. I wish you the best, but I don't think you will ever be re-opening your firm ever again....because the US Government will never be sufficiently reformed to enforce the rule of law.

abhi Dr G
Nov 17, 2011 - 2:59pm

Dr.G - Alf Fields

Actually both Larry Edelson & Alf Field are saying the same thing..

Larry's target is 1450-ish & he said "short term bearish" on gold.. Note the operative word "short term".

Alf Fields said "AFter this correction is finished, wave III of Wave3 will start"... Note the "after this correction is finished".. In a paragraph above that he clearly explains that the bottom at 1535 is not satisfactory.. he expects the wave to retrace to the begining of extension at 1478.. So he says there is a 40% probability that the correction will be finished at 1478...

Look at it as a great opportunity to stack up at 1478... before the blast-off..

Nov 17, 2011 - 3:01pm

No more CFTC emails or

No more CFTC emails or letters or phone calls. The CFTC is only an enabler that keeps honest money in the system hoping for reform. Yeah right...

No more emails to NOBODY. No more phone calls. Just lock and load and stack and pack. Barnhardt is ahead of the herd in her field. The entire system is corrupt and collapsing before our very eyes. The crooks are grabbing everything that's not tied down...and even that's not safe. Protect youself and your one else will....and have faith in God. God is allowing this carnage to show that there is no hope in fallen human beings. Only when God is on the throne will the world work right. Maranatha

Nov 17, 2011 - 3:02pm

Buyers and Sellers

Yes there is blood in the streets today and isn't that what we have been looking for? When all hope looks like it is lost and when they throw their metal stocks in the street, then fill a small basket. Exk was back to $10.90 and many other miners are TANKED. I remember awhile back when Mr. T.F. was talking about EXK as a good one and he is correct. Did we think that gold and silver were going up this week and next or down? Mr. T.F. told us to be careful and he was correct again. I'm wading in a bit and slowly and have a smile on my face because even grandma is taking fiat out of her canning jar and scooping up the sales. jmo

Eric Original
Nov 17, 2011 - 3:06pm

re: Barnhardt

I fail to see why anyone thinks changing presidents would change anything...

Eric Original
Nov 17, 2011 - 3:09pm

Time to go run the dogs.

Time to go run the dogs. Won't be back until after the close.

Nov 17, 2011 - 3:15pm

Keep an eye on the 50 MA

I'm guessing Gold will stay around the 50 MA before shooting back up. No worries. 50MA 1721.

Nov 17, 2011 - 3:17pm

Great day to be alive.

Well, how about "Great Day to be alive and inebriated." Tough to get too down about things when there's great posts like that one at ZH - That's Entertainment! And that's about the level I'm operating at right now. I just hope we don't have to get as low as Fields thinks. Although I'll be ready for it by liquidating anything I have that isn't PM and switching over. Then I'll be ready ... for what?

3 bottles draining fast. Make that 4. Crown, Crown Black, Root Beer Schnapps, Baileys (also dipping into the Godiva as well) ... hoped these B-day gifts would have lasted longer. At least I have them now. I feel sorry for Barnhardt, but I admire her decision. Hope she did the RIGHT thing. Sometimes running away can be right, but definitely not always.

Nov 17, 2011 - 3:20pm

Eric Original re: Barnhardt

indeed, its not like government was ever much better in the USA

I'm doubting myself now though since the MF Global crisis, to go out of CEF at IB and move that money to phys, so that I have 100% phys (presently 66%)

Nov 17, 2011 - 3:20pm

Hysterical Pregnancy !

Your wife is pregnant ! Sensitive, liberal PC man that you are, you feel guilty for what you did to her in your bestial moment of lust, you have a Hysterical Pregnancy to share her pain ? Stupid Communism flails around in it's death throes (I wish I could give it a coup de grace !) so the whole liberal, MSM, support chorus has to punish Capitalism by destroying it for having dared to make Communism look bad ! The Fiat Fuck Masters are ready to implode.......the Hard Money solution must be destroyed ! It cannot be seen as the salvation ! That would be the end ! They are playing for keeps ! They want to demoralize you ! Crush you ! Ridicule you ! Destroy you ! Punish you for being right ! Neutralize your private initiative ! Snip your manhood ! Smother your humanity ! Take you out of the gene pool ! Take your freedom away ! Take your children away ! Take your woman away ! Don't you just hate their fucking, cowardly guts ! Take your neck out of their noose ! Get out of their filthy, rigged, corrupt, lying, thieving, cheating markets ! Turd, you didn't say we had to delete explicatives ? Monedas 2011 Comedy Jihad Benaton Obama Osculate My Anus ! PS: In Spanish it is known as the "Beso Negro"......the "Black Kiss" ! How appropriate ?

Peaches Marie
Nov 17, 2011 - 3:23pm

I love this site, frequent it

I love this site, frequent it daily, rarely post. But with all due respect, I have a problem reconciling in my own mind how someone like say Alf Field, for instance, could know back in 2002 (give or take a year or two) that gold would be manipulated in such a manner as to allow him to correctly predict with such back of the envelope accuracy the major targets (and corrections) gold has made over the years. Those targets are posted here in earlier blogs.

He called for a 21 to 26% correction from the 1913 top. How were we to get to 1511 (actual 1531)? Did he know Blythe would help out? No, I think gold is doing what gold does. The "Manipulators" are just going along for the ride, and happen to have been smart enough to know where that ride was headed.

Next up, Field says "Once this correction has been completed, Intermediate Wave III of Major THREE will be underway. This should be the largest and strongest wave in the entire gold bull market. The target for this wave should be around $4,500 with only two 13% corrections on the way."

During those 13% corrections, I'm sure we'll be reading stories of manipulation again if there is still a COMEX or a paper market, which is not a certainty be any means. Buy physical and wait for the end of Major FIVE!!

Nov 17, 2011 - 3:26pm

@ York Rite

I think I read most of the posts, but I have not seen your name before.

Your underlying argument is flawed. Though the EE might conceivably use a shill to deceive others about future price movements, it does not follow that one who makes predictions is a shill. This is the "false cause" fallacy. Sinclair has made predictions that have not come to pass (at least not today). Others here have also. Wait until Jan 1 to criticize. Even then, that does not mean someone who was bullish a shill, just wrong. Bring us a legitimate argument, preferably with evidence and I'll consider it.

There are many here saying we have further to fall as well.

I maintain that the fundamentals are bullish, that PMs will preserve wealth through a fiat crash as well as anything, and that a crash is near. I want to hear reasons why I should be bearish and sell my physical, not criticism of others who are bullish.

Disclosure: Alas that I lost my PMs while surfing at Malibu last summer, but I am bullish.

Nov 17, 2011 - 3:28pm

A MILLION Hat Tips to Ann Barnhardt

What a kick ass babe! Since Turd posted a letter by her after the MF'ing Global meltdown I immediately started reading her site and watched some of her vids. Then she stated she was done w/ paying taxes to this unlawful regime. I wondered, "well how in the heck is she going to get away with that and run a brokerage?"...well, wonder no further! She just once again showed that she has more honesty, morals, ethics, principles and big-ass ballz than about anybody I've ever heard of! I knew she was a hard-ass chick when she burned a koran and invited any muslim in the world (with complete detailed instructions on how to get to her house) to come to her home so that she could test out her AR-15 on them!!! That was freakin' classic!

I wish her all the life-long happiness and success in whatever she ends up doing...hopefully the gubment doesn't go after her for anything. We need millions upon millions of more people like her in the country to turn the ship around. Does anyone know if she's a follower of the Great and Almighty Turd on here? I hope she is...

also via Zero Hedge:

"The Entire System Has Been Utterly Destroyed By The MF Global Collapse" - Presenting The First MF Global Casualty Submitted by Tyler Durden on 11/17/2011 14:19 -0500

Green Lantern Bay of Pigs
Nov 17, 2011 - 3:33pm

Great post Turd, and more

Great post Turd, and more bravo's on your follow-ups!

It would seem to me that caution ,some trepidation and a lot of patience are the commodities most needed to endure these condition. It's very validating to see that as a group, we are coming to very similar conclusions (for the most part) even if those conclusions are extremely discouraging. It is much better to know that you are in a land mine and carefully navigate it than do not know.

Some of you are chomping at the bit to get deeper into the miners. Which I totally understand. My psychology since May has been one of multle personality disorders. Occasional bouts of an angel on one shoulder whispering in my ear, patience, and a little devil with a pitch fork in the other hear saying, buy, buy, buy!! Buy now you greedy bastard!!! What you waiting for an invitation? .Don't you see the shit is on sale. Buy Alot, Buy Big, Buy small, Just do it now!!! (He's a real pain in the ass.) The angel has fortunately won out and been correct. Of course that can change tomorrow.

Anyway, I think Bay of Pigs and Diegeiro got it right. I've copy and pasted because I think it bears repeating OFTEN. Rinse and repeat. If they are right, then patience will pay very rich rewards. If they are wrong, then you'll just hop on the gravy train a little later. I got a sneaky suspicion nothing is going to the moon too fast. Eventually! So I'm running this race like the Turtle. Getting your stuff off prematurely is no fun for anyone.

Gold and silver falling

Submitted by Bay of Pigs on November 17, 2011 - 11:24am. Is a sign of some very bad things on the horizon. This happened in 2008, and this is a far worse situation.

No QE in Europe (massive) and the whole shithouse goes up in flames (EU breakup and ensuing bank contagion).

mining shares

Submitted by diegeiro on November 17, 2011 - 11:26am. I am getting the feeling that TPTB are trying to shake us out of our miners, manipulating whatever news they can, which is a lot; suppressing prices when they want to buy and raising prices when they want to sell. Prices could still drop on miners, but wdik.
Nov 17, 2011 - 3:35pm

Why the takedown?

As of yesterday, the COMEX open interest in December silver is 185,000,000 ounces, of which JPM is short a shitload.

COMEX has 30,000,000 ounces of deliverable silver (or so they say).

Unless they can get longs to dump 155,000,000 ounces in the next week or so, JPM may not be around any longer. Any wonder they are trying to dispose of as many silver longs as legally and illegally possible? December 1st day notice is scaring the bejezuz out of the PTB. The CFTC? They won't do a thing . . . if they tried, they would each accidentally drown in the bathtubs . . .

Stack up silver and gold. On sale now!!!!!!

Nov 17, 2011 - 3:36pm

Another fine Nigel Farage rant!

Hot off the press from ZH. markets sure are not holding my interest this afternoon.

Farage: What gives you the right to dictate to the Greek and Italian people?

I love this man!

I showed a video of him to my public speaking class as an example of eloquence, confidence, passion, and guts.

weedlayer Icarus
Nov 17, 2011 - 3:45pm

100% correct . . .

Also, all stackers in Turdville (and elsewhere): look at your stacks. You have lost NOTHING today, unless you went scared and sold your physical.

Look past these paper shenanigans, use your fiat to pay bills and use the leftover fiats for more stacking (or Jack Daniels).

Last Rebel Eric Original
Nov 17, 2011 - 3:47pm

@Eric O & zilverreiger, AB

@Eric O & zilverreiger,

AB didn't say just Obama out of office, the whole US govt revamped and reformed as well to where trust could again be placed in the system. Read the article.

TakeAway Pizza Stormdancer
Nov 17, 2011 - 3:48pm

I always used to think that

I always used to think that people who are in positions of leadership and authority were honest and had noble intentions. I am more and more understanding that most people in high positions have their own selfish and crooked desires and goals in their heart and not necessarily the best interest of the people.

Nov 17, 2011 - 3:48pm
Nov 17, 2011 - 3:49pm

Mr. Jim Willie

My personal favorite opinion is from Jim Willie. Who doesn't write or talk enough in my opinion. Might have something to do with that nasty little death threat on the beach.

An excerpt from his latest:

Safeguards did not merely fail, they were abused once more in a long list of fraud events. The Commodity Futures Trading Commission has failed on the job for the public, while doing an excellent job for the syndicate in power led by JPM and GSax. The next sham charade will be the big US banks serving on the creditor committees to oversee dispersal of funds that they were not able to steal already. JPMorgan is the agent for a $1.2 billion syndicated line of credit to MFG. It was named to the 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.
Nov 17, 2011 - 3:50pm
Ferd Torgerson
Nov 17, 2011 - 3:51pm

Are You Kidding Me?

CNBS now talking about coming IPOs. Guess that means it's ok to sell my physical and mining shares and borrow even more money on shares that will spike up in the first hour after issuance and then settle back to or below their original issue price?

Maybe that's what's happening today. People got to have those new Angie's List shares. Maybe I should just take the rest of my fiat and throw it out into the street.


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