Remembrance Day

Wed, Dec 7, 2011 - 9:52am

Today is December 7, 2011. Seventy years ago today, "the United States of America was suddenly and deliberately attacked by naval and air forces of the empire of Japan". That this war of imperial expansion could have been avoided is lost on most people.

Yes, thousands died that day and in the years that followed and their sacrifice must be remembered. However, the seeds of the Pacific War were sown 40 years earlier by the racist, imperialist policies of American leaders such as Teddy Roosevelt and William Howard Taft. If you are interested in learning more about this, I strongly encourage you to read "The Imperial Cruise" by James Bradley. Here's a link if you're interested:

The Imperial Cruise by James Bradley -

OK, three quick items this morning. First up, a gold chart update. You'll recall this chart from Monday morning. Well, I've updated it and you can see how the trend continues but is getting close to resolution. For today, the top of the "pennant" is at about 1750. Tomorrow it will be even lower. The likely breakout direction is UP and, from there, gold will target 1800 and then maybe even 1840-50 before the end of the month.


Next, if you haven't read this yet, I encourage you to do so now. That a major TBTF, sell-side bank would publish "research" such as this is breathtaking. How close to the end must we truly be?

Lastly, as you know, I watch very little television. One program that I have taken a liking to, however, is Judge Napolitano's nightly show on Fox Business. He seems to be a true leader, libertarian and patriot. Last week, the U.S. Senate passed a "defense authorization bill" grants the U.S. president the authority to detain, without trial or counsel, any U.S. citizen he deems a threat to security. That this blatant constitutional travesty has been actually approved by the Senate should send shivers down the spine of every American citizen. As you might imagine, The Judge is all over it and last night he interviewed one of only seven senators to have voted against the bill. I urge you to watch the segment now.

We here at TFMR should be "all over this", too, as yours truly and, frankly all of you reading this, may one day find ourselves subject to this "detention". Soon I hope to publish a special "op-ed", written by a fellow Turdite, that details this clear and present danger to your civil liberties. Until then, please take the time to research this yourself and warn your friends and family.



​Glad to see the PMs holding in there today, albeit in a choppy trade. I am currently listening to a "webinar" of Gonzalo Lira, James Turk and Charles Hugh Smith. Pretty interesting and I'll be sure to share anything that deserves your attention once it's finished. In the meantime, I just received this from Chris Martenson. It's worth your time.

More later. TF

About the Author

turd [at] tfmetalsreport [dot] com ()


Be Prepared
Dec 7, 2011 - 9:57am

War and its Terrible Cost

Pearl Habor...a Date that will live in Infamy. We continue, as a country and nation, to fight on many fronts. Our brother and sisters who have fallen, regardless of the cause or reason, should be remembered and honored for their sacrifice.... I remember and pray that we will, one day, find peace.

Dec 7, 2011 - 9:59am

ZH article

George Washington's blog mentioned that expanding the war zone to include the US would make protesters/political enemies into POWs, and thereby subject to the Geneva Convantion, which means we can't torture them. Since torture is so important to our security, Obama will veto the bill if it has the provisions.

Dec 7, 2011 - 10:04am

Serious Consideration

Looking at the charts, and especially Ag performance over the past 90 days, I am thinking about selling my TBT positions that I've been holding for quite some time (at a large loss right now) and dumping it all into CEF and BNO. CEF has the "best" NAV for this type of move of any of the phyz funds and BNO might be the best "war" play at the moment. I just don't think the Bernank is going to make a big "fanfare" QE move that will be an excuse for the markets to move. But mark me, QE is in effect anyway as seen in the money supply numbers. How the market has allowed long-term UST interest rates to stay as low as they have boggles the mind and it has been my worst call in the last two years.


The growth of Au in $ will be limited so that the money printers and their friends can have their first cut at purchasing power as long as possible. To do this, things must be done on the quiet and Au's price growth must be minimized. All in all, we will see higher PMs, but patience is still a severe requirement. Of all spiritual fruit, patience is the one I have the least.

Dr Durden
Dec 7, 2011 - 10:08am

Start'em young

After pounding a whole bowl of oatmeal, a banana, some sausages and a half an avocado for breakfast, I asked my 2.5 year old what else he wanted to eat? And he says, of all things....


That's my boy!

Dec 7, 2011 - 10:15am

Whenever I See an Article On Central Bank Purchases of Gold,

On Korea's gold purchases;

These types of announcements lead me to think of what's discussed here;

"At the hearing held on March 25, 2010, by the U.S. Commodity Futures Trading Commission to inquire into the precious metals market, the managing director of the metals consultancy CPM Group in New York, Jeff Christian, a consultant to central banks, testified to what he had published in an explanatory essay in 2000. Christian testified that the world’s biggest gold market, the London bullion market, is actually part of a fractional-reserve gold banking system where many times more gold is sold than is delivered. Most London gold buyers don’t take delivery, and so most gold in client accounts on the books of the London bullion banks doesn’t exist. It is just an unsecured claim against the bullion banks, which presumably have assurances that, in an emergency like a short squeeze, they can obtain gold from central banks."

**Edit** Woops, what I meant to say is that the further the paper price diverges from physical, and collateral demands of these HUGE amounts in debt around the world, will results in large jumps in price. If banks are starting to repeatedly NOT trust lending, their collateral is going to have to be VERIFIED. Those swap lines, and central bank holdings wont be trusted either. After all, are banks even trustworthy nowadays?

Dec 7, 2011 - 10:16am

On this day....December 7th, 2011 !

Monedas was suddenly and deliberately attacked by his detractors ! If you're Socialist, short the PMs or just short.....Monedas can no longer count on your natural affection ? Monedas 2011 Comedy Jihad Short People Are A Pain....fellow humourist Randy Newman was right ! devil

Dec 7, 2011 - 10:16am

Pearl Harbor wasn't all that

Pearl Harbor wasn't all that sudden, it looks like it was a let it happen.

Dec 7, 2011 - 10:27am

get involved

The pre-WW2 history is essential. Also consider our CIA helped overthrow democratically elected Iran in 1953. Wonder why they are still a little upset?

"... please take the time to research this yourself and warn your friends and family."

Please get involved!

silverparatrooper Dr Durden
Dec 7, 2011 - 10:31am

I hear that

I have a 4 year old, a 1.5 year old and one on the way. I finally convinced my wife about the metals and preservation. I keep pushing on my wife to let me teach him how to shoot. I bought a slingshot and what does he do? He turns it around and aims points it at her accidentally. Now I have to wait another year lol. I remember when my first order of ASE's showed up at the house. My wife says "they look fake", I said in retort "they look like real money to me".

Dec 7, 2011 - 10:31am

@TF - reply from yesterdays post

Please don't respond to this post as I don't want to distract from the current topic. But since I wrote a response I wanted to post it.

Regarding your question from yesterday involving the set up of Main St. involving news. Below is an excellent post from yesterday by Loaded who has been registered for two weeks. I agree with him 100%. There are times when I am working/traveling I can't even keep up with one thread let alone two or three. At other times, I am able to be in the home office and monitor them for hours at a time. We here are all rather like minded. Like a community or a family we fall into sub groups and become closer with some. When a big family gathering occurs, for most of the time the teens/college kids gravitate together and the parents and elders elsewhere. Later on the groups mix for a portion of the evening. 

I think the same is happening within this growing community. There's Main St. for all to gather on and the numerous threads within each forum for specific groups to spend more concentrated time with each other.

TF, I think what you and the designers have created here is really an amazing feat. There is so much more right than wrong that it is not even close to needing fixing. This is shown by the quality of cooperative knowledge shown by the 99% of all who post here.


Sticky question

Submitted by loaded on December 7, 2011 - 1:45am. Hat Tip! 12

I love the way Main Street works as it is, in a linear stream-of-consciousness sort of way. It works for me very well as it is, and it's a very important source of analysis, commentary and breaking news. However, I struggle very hard to keep up with it because of the volume, but please understand I'm not complaining. Speaking strictly as someone who wants to find and digest the best of said analysis, commentary and news without spending any more time at it than necessary, I could do without all the off-topic music videos and whatnot. But hey, this is a community, and a vibrant one at that, and I can appreciate the banter as signs of a healthy group. I can generally scan past the off-topic stuff pretty quickly. Getting to the forums is not gonna happen for me, as I simply can't spend any more of my day in Turdville than I already do :)

If you do the sticky thing, please don't allow follow-up comments in multiple concurrent "Main Street" threads. Please, let's keep Main Street one lane, so one can read it sequentially and not miss something vital going on somewhere else. I'm not gonna be able to bounce around between multiple threads and try to figure out where I left off, or try to figure out who is replying to what. It's hard enough to keep it all straight already, and adding additional complexity to the system strikes me as a solution looking for a problem. I agree that the breaking news is a vital service of this site, and scattering the information around will only disrupt that flow.

I see nothing wrong with the way it is now and hope you will not add complexity without really good reasons.

Dec 7, 2011 - 10:33am

More on Central Banks' Gold Purchases

Great Minds Think Alike, and I was working on this one when Jack Putter's 10:10 a.m. post appeared…

‘Venezuelan President Hugo Chavez said a second shipment of gold reserves being repatriated from banks in Europe and North America arrived today in Caracas. The central bank received the first shipment of gold on Nov. 25. Venezuela had 211 tons of gold reserves held abroad as of August.

The president said that there is nothing more exposed than keeping that auriferous resource in Europe and the United States. "I have nothing against Europe. I am just telling the truth," reiterated Chavez.
"How long will we keep that gold there? Who knows if a king or NATO (North Atlantic Treaty Organization) comes and issues an insane decree-law? That gold is ours," added the Venezuelan head of State.’

- - - - - - - - -
Isn’t it interesting that Chavez – while made out to be a madman by much of the West – seems to ‘Get It?’ He obviously understands not only the value of gold, but the difference between ‘paper’ vs. physical gold as well.

Dec 7, 2011 - 10:45am

The Judge Rocks!

Thanks for the update and the links etc. 

The UBS thing is so straight forward and from such a big player that it sounds like a warning and a heads up being telegraphed to whomever the audience was intended to be.

Judge Napolitano is awesome and almost makes you want to march through a wall after some of his passion laced comments. That's a leader!

Dec 7, 2011 - 10:49am

Yeah, 4 yrs is a bit young for a projectile.

I've seen a vid on the tribal shooting lessons that would occur. The bows that were given to the youngest were very much like toys. Bent sticks where accuracy wasn't even the goal. The ability to bend it, and gold it for a shot was more on target. (Intended) The line of boys went from the youngest in a row to the oldest of about 12yrs. 

I think they had to make their own as they got older to learn that skill too. The twelve year old boys were to watch after the younger ones safety. The teaching of responsibility for others came with the territory. As a society the teachings of being a proper warrior included providing for those who cannot provide for themselves. That the protection of a village was worth more than one's life.

I do find it a little disturbing that those basics aren't taught or even teachable in video games. A cynical blood thirsty-ness without a regard for life. Christmas cartoon movies that show the "military precision" of the elves. The violence in shopping for a 2 buck waffle iron that probably won't work out of the box.

Keep stacking, keep stacking, keep stacking.

Dec 7, 2011 - 10:51am

Central Banks keep stacking?

Be you own Central Bank and keep stacking...

Brotha Bob
Dec 7, 2011 - 10:52am

Defense Authorization Bill

Defense Authorization Bill is a travesty. Not only that the Senate passed such a thing, but the administration claims those powers already. If this POS is enacted into law, it is the death of liberty. The shinning city on a hill will be crumbling into dust, like the ancient building in Greece. Why, is the press not all over this? Why are the people not all over this. I have been posting on FB for the past week on this topic. I am thoroughly disgusted with Washington. Those pompous ass sit up there, thinking they can do whatever they please. The constitution was written to ensure our liberty from a tyrannical government. Over the years, those liberties have eroded. Now, with this legislation, they have recorded enough to blatantly stripe away our God given rights! After this, what could be next?

survivalwstyle Be Prepared
Dec 7, 2011 - 11:05am

we nEEd to make sure

the pEEps know. get out the info. gOOd work bro.

Dec 7, 2011 - 11:10am


He's not a tool. So I actually like the guy. One of the few libertarian-ish perspectives available in the mainstream media. __________________________________ ~Unique Quality Bullion~

Dec 7, 2011 - 11:13am

Thanks for the comments

I wanted to thank everyone who responded to my long Monday post about gold going down to 1511-1420 by mid-January. I appreciate the comments and suggestions very much. Unfortunately, I'm up to my eyeballs in work, and won't be able to respond to any of those posts. I just popped in here to thank everyone, and to wish you all the best of luck in your trading. Gotta run.

Dec 7, 2011 - 11:15am
Dec 7, 2011 - 11:18am

prepare accordingly! my brother has a dealership for these. i can get you one for below wholesale! trust me! you're going to need one before next december when the calendar expires! *Please note, some people have reported that they cannot actually see the cloaks depicted in the photos shown. This can happen when one's spiritual vibration hasn't been raised to the level of AWARENESS necessary to see this magical garment. Please don't be alarmed or ashamed... it only means that you NEED THIS CLOAK NOW! Your AWARENESS needs to be raised on a spiritual, etheric level and this cloak is the perfect tool for that!. "It's so soft on my skin!" ~Ignacio Garcia Mayan Shaman "I wish I had one of these, it would have solved a lot of my problems." ~Grigori Rasputin Mystic & Faith Healer

Dec 7, 2011 - 11:21am

Us Drone shot down in Iran or not?

How Iran Acquired A Stealth Drone

By Moon Of Alabama

December 06, 2011 "Moon Of Alabama" -- It seems that Iran has acquired a U.S. stealth drone which was illegally flying within its airspace.

A secret U.S. surveillance drone that went missing last week in western Afghanistan appears to have crashed in Iran, in what may be the first case of such an aircraft ending up in the hands of an adversary.

Iran’s news agencies asserted that the nation’s defense forces brought down the drone, which the Iranian reports said was an RQ-170 stealth aircraft. It is designed to penetrate enemy air defenses that could see and possibly shoot down less-sophisticated Predator and Reaper drones.
U.S. officials acknowledged Sunday that a drone had been lost near the Iranian border, but they declined to say what kind of aircraft was missing.
The first reports of the drone crash came from Iran’s semiofficial Fars News Agency. “Iran’s army has downed an intruding RQ-170 American drone in eastern Iran,” the Arabic-language al-Alam state television network quoted an unnamed source as saying. “The spy drone, which has been downed with little damage, was seized by the armed forces.”

More on the link above.

Dec 7, 2011 - 11:26am


I'm a little shocked that I'm reading this here:

"However, the seeds of the Pacific War were sown 40 years earlier by the racist, imperialist policies of American leaders such as Teddy Roosevelt and William Howard Taft."

Does anybody seriously think that the Japanese weren't racists too? Those "seeds" needn't have been harvested, and all the horror that the Japanese visited upon the Chinese, Phillippinos, and other civilian populations throughout the Pacific had absolutely nothing to do with American actions forty, thirty, twenty or even two years earlier. 

Dec 7, 2011 - 11:28am

Regarding Pearl Harbor

With all due respect, Turd, Bradley's view of the cause of Pearl Harbor is a bit simplistic and distorted. Here are some critique's of his book:

Publisher's Weekly: "Bradley's critique of Rooseveltian imperialism is compelling but unbalanced. He doesn't explain how Roosevelt could have evicted the Japanese from Korea, and insinuates that the Japanese imperial project was the brainstorm of American advisers. Ironically, his view of Asian history, like Roosevelt's, denies agency to the Asians themselves."

Booklist: "As he recounts the itinerary of Taft’s cruise, Bradley discusses attitudes of social Darwinism and white superiority that were then prevalent and expressed by TR and Taft. They modified their instincts, Bradley argues, in dealing with nonwhite Japan, and secretly conceded it possession of Korea. This is what Bradley asserts was a prerequisite to Pearl Harbor in 1941, a dubious thesis when the tensions of the 1930s stemmed from general Japanese aggressiveness, not its control of Korea per se. Bradley does fine on 1905 but falters when predicting the future."

As for the Defense Authorization Bill, some people here have been screaming about this for nearly a week. Haven't you noticed? Fortunately, Obama has said he would veto the bill, although his motives are suspect.

cpnscarlet RedRover
Dec 7, 2011 - 11:39am

Thanks for the post and link

Thanks for the post and link 41 - continue to row well and live.

Hate to say it though - both BroJF and Turk are becoming the Ag "angels of death" with their short and intermediate-term projections. If they say it, it won't happen. We all wait for the day when they are right. Backwardation was supposed to solve all our problems when it started many months ago. Still no relief to the constant down/sideways action. Just more evidence of the naked short selling that has the paper Ag market locked tight in a universal fraud.

Louie JackPutter
Dec 7, 2011 - 11:40am

@ Jack Putter & Mammoth- Chavez

Does it drive anyone besides me crazy that Hugo Chavez would be a better Sec. of the Treasury than Tim Geithner?

cpnscarlet RedRover
Dec 7, 2011 - 11:41am

Thanks for the post and link


Dec 7, 2011 - 11:42am

Yep...scary stuff


An individual, including a citizen of the United States, determined to be an unprivileged enemy belligerent under section 3(c)(2) in a manner which satisfies Article 5 of the Geneva Convention Relative to the Treatment of Prisoners of War may be detained without criminal charges and without trial for the duration of hostilities against the United States or its coalition partners in which the individual has engaged, or which the individual has purposely and materially supported, consistent with the law of war and any authorization for the use of military force provided by Congress pertaining to such hostilities.

Then read Section 3(d)2(e)


(2) CRITERIA FOR DESIGNATION OF INDIVIDUALS AS HIGH-VALUE DETAINEES- The regulations required by this subsection shall include criteria for designating an individual as a high-value detainee based on the following:

(A) The potential threat the individual poses for an attack on civilians or civilian facilities within the United States or upon United States citizens or United States civilian facilities abroad at the time of capture or when coming under the custody or control of the United States.

(B) The potential threat the individual poses to United States military personnel or United States military facilities at the time of capture or when coming under the custody or control of the United States.

(C) The potential intelligence value of the individual.

(D) Membership in al Qaeda or in a terrorist group affiliated with al Qaeda.

(E) Such other matters as the President considers appropriate.

Almost appears as if they are preparing for something...

Dec 7, 2011 - 11:43am

Turd - Yamato

Turd -

US/Japanese relations, a very interesting subject cloaked in many layers of mystique and disinfo. I would recommend anyone here in Turdville to look up a book called 'The Yamato Dynasty' by Sterling Seagrave (who incidentally also wrote the wonderful 'Gold Warriors'!) - I had to read it twice to take in all the new information.

PS Cheers for the consistently worthwhile thread commentary you provide us with day in day out

cpnscarlet jacey
Dec 7, 2011 - 11:46am

@jacey and all - allow me to

@jacey and all - allow me to get a little "Irwin Schiif-y" here. "citizen of the United States" ain't us. If you were born in one of the 50, then you are a "citizen of one of the several states" and that's why the POTUS can be allowed to do whatever the hell he wants since citizens of US possessions and territories do not have Constitutional rights. They only have privileges defined by Congress. Of course, the key things is to make sure you claim your rights as a Constitutional citizen. BUT, since the Federal courts and the administration are full of crooks anyway, trying to claim and protect your rights is pretty much an impossible battle.

I guess you can ignore this post. Sorry to waste your timeangry.

Dec 7, 2011 - 11:49am

The Judge

is awesome! He has made me think on some issues that I was surprised that he could change my view on. For instance Wikileaks. But his show is the only one I watch consistently. He is a leader. He should be Ron Pauls VP!

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