Wed, Dec 14, 2011 - 9:37pm

...that was interesting, wasn't it? A long and crazy day but I do have a few things to add.

First of all, I thought I should re-post this in case you missed it earlier. Thank you to "Pining" for the fantastic piece of Photoshop art:

My two favorite parts are Atlee giving everyone the finger and the hot chick jumping off the bow.

In case you missed the updated charts I posted at about 4:00, here they are again. I can re-use them because prices haven't changed much in the time since. However, I have a feeling that that's about to change.

You may have seen this earlier at ZH. Its a new technical summary from Citi. In it, they claim that gold should bottom at around 1550 but still trade to around 2300 next year. Gee...where have I heard that before???


ZH also posted the stock market section of the same Citi report. It included this vehwy scawey chawt. Yikes!

Next....Never fear, the CFTC is here! What a Cartoon Corral these morons are...


Ole Eric King was hard at work during the downdraft today. First, he interviewed Santa and then he tracked down Egon von Greyerz. Both will be required listening when they are finally posted in their entirety. Until then, here are links to partial transcripts:



Jeff Nielson has chimed in with a terrific column that discusses negative lease rates and Libyan gold. I find all of the attention today to negative lease rates rather interesting as I'm pretty sure TFMR was this first place to notice them and warn of impending doom last week. Not that that's any great honor. It's kind of like being the first White Star lookout to have seen the iceberg.


Lastly, just a word or two about today's open interest numbers. (Remember, the numbers we got today reflect the changes from yesterday.) Two very important items.

  • The Feb11 OI only fell by about 500 contracts. When added to the 1500 contract decline of Monday, Feb11 OI is only down 2000 contracts while Feb11 gold is down about $53. I would have expected a much greater drop in OI. What this confirms for me is that there are very few human holders of Feb11 contracts. Almost all of the Feb11 contract holders are WOPR on one side and the sub-human EE on the other. If this is true, the likelihood of finding a bottom near 1550-1560 just increased quite a bit. What I'm driving at is: I feared that the MFGRAP would permanently scare away buyers of paper Comex contracts. However, if the spec long position is almost entirely WOPRs, they'll simply flip back over to "buy mode" as soon as the technical picture improves. IF gold bottoms as I hope, we should soon be able to buy paper with confidence and expect a handsome rally.
  • Dec11 gold continues to get new open interest. We added 137 brand new contracts yesterday...all in the face of a selloff? When added to Monday's gains, we've got almost 650 new contracts this week! That's amazing!! There is clearly an effort afoot to jump the queue and get some gold delivered this month and not wait for February. No, I don't think that the gold Comex will collapse from the weight of this. Not this month, at least. However, this potentially speaks volumes about the utter lack of bulk, physical gold available in the world. Very, very interesting and must be watched.

OK, that's all for now. Be on the lookout for some sharp volatility overnight and tomorrow as the metals search for a bottom. Let's see how today's lows hold up and keep our fingers crossed. Regardless, keep the faith and be happy. You have chosen to sock away savings in real, true money. Do not be discouraged by the blatant and shameful price manipulation tactics of The Cartel. The precious metals are going to have extraordinarily strong, fiat-relative performance in 2012. Soon, the pain of today will be long since forgotten.


About the Author

turd [at] tfmetalsreport [dot] com ()


Frankenstein Government
Dec 14, 2011 - 11:32pm

Thanks Turd, Great Smuggling Story

So I woke up this morning to the great slaughter. Hoping to buy more phyzz. I want to say thanks because you predicted it so I didn't jump out the window and twist an ankle.

If you want to read the craziest smuggling story, two Japanese dudes with 135 BILLION dollars, read this. The first time I saw it- I thought it was BS. Last night I saw it again- this time a lawsuit has been filed. Presented and uncorroborated. Wow. I'll just offer it up for bored readers. I am quite frankly, a little bored with gold and silver today.


Dec 14, 2011 - 11:33pm

Here is the roll call: The

Here is the roll call: The ass holes have spoken.


U.S. Government Shutdown Preparations Begin As Funding Talks Stall Washington Post

Time to hit the sheets, as I am utterly disgusted..

Dec 14, 2011 - 11:34pm
Katie Rose
Dec 14, 2011 - 11:42pm

Thank You Eric!

Thank You Eric! I appreciate your kind words very much!

Today was a big milestone.

An awful looking wood cook stove I purchased for $150 is finally cleaned up, hooked up, and heating up the shop. (Everyone ragged on me for the purchase. Now I am a genius.)

I will need to learn how to bake bread in the newly cleaned and painted oven. This project has taken a long time. It feels great to have that taken off my prep list.

Next month, unless the weather is simply too terrible, I am having the hand pump I bought for the well installed professionally, as none of us knows what to do with the artesian overflow pipe that flows during the winter months. What a gift that will be!!!!!! Water when the power goes down and gas runs out for the generator.

That is where my fiat is going--into preps.

I simply do not want to trust that my PM's will purchase what I need when TSHTF.

Oh, and today I took my first shot with our 22 at a coyote. Dang thing got into my baby goat pasture and the little ones didn't have the sense to go back into the barn...

I missed.

Dec 14, 2011 - 11:43pm

Thanks for the call Shill

My pos congressman not only did he not have the guts to vote against it ( even after my cut and paste from CA. Law) he couldn't even vote for it. I sent him a nice note saying that it's amazing that he gets paid to represent absolutely no one in his district.

Buckets o Plenty
Dec 15, 2011 - 12:06am

Put an order in

with my LCS for some silver (junk) and gold today. Thanks Turd!! I almost bought last week and am grateful that I waited patiently and resisted temptation. The stack got bigger and I will sleep soundly tonight. The hat looks GREAT and brought me out of lurker status. Keep up good work, it's much appreciated!!

Dec 15, 2011 - 12:09am

OH MY goodness


Dec 15, 2011 - 12:13am
Dec 15, 2011 - 12:19am

gold shares

I never mind the drops in the price of gold. What I have a problem with is the gold stocks. They never seem to do anything but drop in price. I would have been much happier just buying more gold!

Dec 15, 2011 - 12:24am

roLL 932

i think everyone should check that caLL...find your HOR....mine voted aye...Fme

sending him an email now...hope i return.


So It Goes
Dec 15, 2011 - 12:28am

US Mint - Silver

US mint is quoting $50.95 for an uncirculated ASE - given that spot is 28.90 - the mint is charging - a 76% premium. LOL - how many do you think they are going to sell?

BTW - for those of you keeping score - The mint has sold more ASE bullion coins in December already than they did in all of November.

They will sell more than 40 million one oz ASEs in 2011 - a new record.


These will never re-enter the market to be sold for scrap - they are for investment. Think about it - that is - 40 million ounces of silver were consumed by the US Mint this year alone!

The US Mint CANNOT continue to set record sales y/o/y much longer - the shortage is coming soon.

Keep stacking.

Dec 15, 2011 - 12:36am

We fought a war

To get the Constitution and now we can vote to wipe out a few of the Top 10?

I mean this is a revolution. Sorry to vent, was out all day.

Wow, we can arrest you and lock you up if we want to. That isn't America anymore at all. I am going to go to the Fed Courthouse the day after it is signed and see about filing a lawsuit. The Constitution will be my atty. I would love to be the suit I would eventually read about in the paper or on the internet.

I mean wow, it passed Congress tonight. I hope the Senate can stop it. Where is everyone on this? No media of course. I called all 3 Federal reps in DC. Didn't work obviously for my Rep. Hopefully the 2 Sens can vote no.


Dec 15, 2011 - 12:55am

hainesville gainesville

This is a revolution - is Orwell correct?

"The Party seeks power entirely for its own sake. We are not interested in the good of others; we are interested solely in power, pure power. What pure power means you will understand presently. We are different from the oligarchies of the past in that we know what we are doing. All the others, even those who resembled ourselves, were cowards and hypocrites. The German Nazis and the Russian Communists came very close to us in their methods, but they never had the courage to recognize their own motives. They pretended, perhaps they even believed, that they had seized power unwillingly and for a limited time, and that just around the corner there lay a paradise where human beings would be free and equal. We are not like that. We know what no one ever seizes power with the intention of relinquishing it. Power is not a means; it is an end. One does not establish a dictatorship in order to safeguard a revolution; one makes the revolution in order to establish the dictatorship. The object of persecution is persecution. The object of torture is torture. The object of power is power. Now you begin to understand me.”
George Orwell, 1984

RE: https://www.tfmetalsreport.com/comment/60453#comment-60453

Dec 15, 2011 - 1:01am


Rooster, I feel your frustration. The gold shares are killing me. I'm starting to wonder if they are as bad as owning GLD and SLV. Or if they're some kind of scam. I think I would feel happier now by just liquidating all my gold and silver shares and buying physical. I knew something was fishy about Jim Cramer's talking up of gold miners last week. He's part of the scam, isn't he.

Dec 15, 2011 - 1:05am

mine collapse

not a whole lot of info out, but just saw what they said was "breaking news" on fox news that there was a collapse that left miners trapped in idaho. Lucky Friday Silver Mine in Milan (sp?).

6 miners rescued and being treated. not saying if there were more or any deaths. hope not.

Dec 15, 2011 - 1:06am

New lows....here we go again

28.40....how low will we go?

Dec 15, 2011 - 1:08am

need inflation


Correlation of gold and EUR/USD is very tight now. At rate Euro is falling lately, it's looking kind of scary for gold.

Yes, EUR/GOLD correlation, both inverse to USD, but will reverse when revs up the presses to support both

Dec 15, 2011 - 1:09am

Pining Boat Trip Photo Absolutely Rocks

Major thumbs up and Mega Hat Tips to Pining for that awesome Turdville photo taken of the good ship "Turds' Bottom". I keep looking at it and finding subtle messages and insight! Great stuff!

I see there is a substantial amount of bullion being displaced overboard - we really need to do something about these bullion losses at sea.

.. and who is that "fit" young lady in the bikini? Does she hang out on main street?

Dec 15, 2011 - 1:14am

Wanted to get this out here tonight - my dream

Will post this again on tomorrow's thread as well as I would like to get it out to as many Turdites as possible.

I've spent the better half of this year wrestling with the idea of posting this information on the internet. I have been hesitant because the information is incredibly personal to me, and also because I do not like the idea of instigating fear. Due to a series of coincidences in the past few weeks, I think the time to post has come. The final tipping point was this article posted in an earlier thread: https://www.dollarvigilante.com/blog/2011/12/12/its-all-over-but-the-rou...

Before I begin, you should know that this is a sincere and honest post, and I hope you take the time to consider it.

Let's go....

Have you ever seen the movie Inception? Are you familiar with lucid dreams? For the past several years, on and off, I have had life-like lucid dreams that can most easily be described as similar to being in the movie Inception. I typically use these dreams to have conversations with people I encounter. I ask existential questions, but oftentimes ask question pertinent to my life - it seems that these questions are more readily answered. I sometimes have fun and tell the people in my dreams that we are having a dream. Upon being told this fact, some people start crying, some look at me as if I have three heads, and some calmly confirm that yes, we are dreaming.

I could spend quite a bit of time breaking down the details of these adventures, but today I will focus on one particular dream.

I will post the contents of the dream in regular font, and italics will indicate my commentary on the dream.

I am at a party in a dimly lit room in a house. It might as well have been a library room. I do not really know any of the other guests at the party, but we were all drawn to the party by mysterious circumstances. Each person was summoned to the party by either clues and hints, or direct invitation from an unknown host. One girl at the party told me she had received a list of library books she had to read before coming to the party. A few others had been told to show up at an exact time and place. At this time in my life I was feeling a little down on myself. It felt like I was doing everything by myself, without receiving much outside guidance. I thought that when the student is ready the teacher will appear? Well, it didn't seem like a teacher was coming. The circumstances by which I arrived at the party led me to realize that somewhere within me was the need to figure "it" out on my own. I would not allow for the teacher I thought I wanted. I was the teacher.

I felt a little better about this party, and it became clear that the purpose of this party was for each of us to figure out why we had been invited. It started out as a fun game. However, as time passed and we had not discovered the answer, the police would burst into the room, handcuff a member of the group, and brutally drag him/her away. Now we were looking more at a murder mystery dinner party, but not the good kind. This continues for several more rounds with members disappearing after each round.

In real life I am very cold as the window is open. In the dream, I realize I am cold and can feel it. I try to half wake-up enough to pull the blanket up. I am half successful as I black out of the current dream and wake up in the back of a gray pickup truck. I am wearing a helmet, and we are driving on the outskirts of a city. I am still paranoid about the cops coming to take me away, so my head is on a swivel. We turn down a road and head into the back country. Eventually we pull into a farm area with a long road. There are several barns nearby. The grass is very long - at least waist high. About 15 of us from the party are gathered in a clearing. Not more than a few seconds pass before black SUVs begin to pull into the driveway. I IMMEDIATELY realize that the government is here with the people they arrested earlier. They are going to blame all of us for some event that we were not responsible for, and then they would CRUCIFY us. These were the exact words that ran through my mind. Yes, I do have a Christian background. More analysis later. I assume our group is on the same page, and I turn around and start sprinting through the grass and back to the street. I can see two or three others running along side me. To my dismay, I turn around and the rest of the group is still standing there, joined by more prisoners. A siren blares and over the loudspeaker I hear, "OKAY, ROUND 'EM UP!" (did you read that article?)

I black out of this dream and wake up back on the city street with two of my escapee companions. One girl says to me, "Wow! What a crazy dream!" I replied, "You know we're still dreaming, right?" She gasped and said she couldn't believe it. She walked away to go figure it out.

At this point, I go into normal dream mode and try to find someone to talk to. I find a hotel on the side of the street and enter. It seems to be a smaller hotel, owned by an Asian family. There is a restaurant area to the right, a reception desk to the left, and ahead a large staircase leading up to the 3rd floor perhaps. It's a pretty big staircase. I approach the reception area and a younger boy is behind the counter. I ask him if he can tell me about my dream. He runs upstairs, comes back down and tells me he can't help. An adult male, also behind the counter, comes over and asks me to wait for a minute. He quickly ascends the steps and returns. He states, "The master will see you. We didn't think he would because he has already spoken once this year - but he will see you." What?!

Obviously, I follow him up the steps. We turn right, and on the right side of the hallway is a bedroom. Upon entering, there is a miniature bed about 2 feet long. Laying on the bed is a miniature man with a long beard. He looks like a sage, but he is hooked up to machine. My impression at that time is that he is just hanging out in this body and the machine is keeping it going. I hand him my dream, which has somehow magically been written down on a green sheet of paper. The master holds the paper on his chest and starts hyperventilating. Ingesting my dream via inhalation. He then stands up out of bed, and turns into a normal sized human being. He motions me to follow him to another room down the hall.

The room is just an empty room. But the master summons holographic images before my eyes as if he is creating a movie. It is a montage of clips - a Samurai-ish warrior in grotesque battle scenes against attacking enemies. Very bloody and realistic. The sword stood out - it seemed to be blessed with magical powers. Somewhat immaturely, I was thinking about whether I would get a sword like that.

The master then halted the images and we were back in the empty room. He turned to me and said...

"You have to fight and protect the people."

And then I woke up. I'm not sure what you're thinking after reading this, but I had the biggest pit in my stomach I may have ever felt. That was not the message I was hoping for. It was 3 AM. I immediately wrote everything down. I could not go back to sleep. For weeks and months after, I thought about the dream. I tried rationalizing it as one does upon waking up - it becomes farther away. Surely there must be some symbolism here! No way should I interpret this literally! The one thing that is certain is that this dream is not going away.

I'm working to find my answer. My only message for right now is that this is something you need to take seriously. As much as we're here to discuss PMs and making money, I think we may need to pull our heads out of our asses and look at the big picture.

Dec 15, 2011 - 1:20am

Rick Santelli Makes Government Math Easy

Apparently many think that government math is too hard. Thankfully, Rick Santelli is there to simplify things.

Rick Santelli Makes Government Math Easy

Dec 15, 2011 - 1:32am



obama will not veto detention bill. . .

sad days. . . our rights keep slip, slip, slippin away. . .

keep stackin the precious metal with primers on the end...

Dec 15, 2011 - 1:33am


FWIW, I read every word of that. I really dont care who flames me for my answer, I just wanted to give you my first raw thoughts after reading it.

The biggest impression I got was the "sword" that had "magical powers", used to protect people. Ephesians 6 and its accompanying Armour has just one offensive weapon. The rest are defensive. The "sword" of the spirit is the word of God.

I have linked a C.H. Spurgeon article that may or may not help you/us. Maybe collectively some of the pieces may fit together.



Dec 15, 2011 - 1:38am

C'mon Bernanke

print you mutherfuker.......

Dec 15, 2011 - 1:45am

Great waterfall is coming I

Great waterfall is coming I think. Monthly MACD nearly crossing.

Dec 15, 2011 - 1:47am


brace yourselves....this is gonna get ugly.

Dec 15, 2011 - 1:48am

BSD and Katie

Thanks for your responses. Believe me I do think that is one aspect. The pit in my stomach came from the fact of how much the physical was being emphasized. It was chilling.

Dec 15, 2011 - 2:02am

2012 kOOk

https://www.silvercoinstoday.com/wp-content/images/2011/08/2012-Australian-Kookaburra-Silver-Coin.jpg sub 34....pop goes the weasel right down the drain w/ liberty....stG

under 17oo

Dec 15, 2011 - 2:08am

Gold Lease Rates Explained

A long read ... but we should see higher prices in the coming months ..

.....'Meanwhile we suspect that liquidity needs at commercial banks could continue to result in an uptick in gold leasing activity that is short term bearish, but once reversed should become bullish for gold. A few tens of tonnes (perhaps several hundred tonnes at most although the new Central Bank Gold Agreement effective for 2009-2014 contains no limitations on derivatives activities) of leased gold will need to be repurchased in the spot market during the next few months once liquidity is again being provided to European commercial banks using exclusively conventional means.'....

see .. https://www.metalaugmentor.com/analysis/charlatan-exposed-negative-gold-...

Dec 15, 2011 - 2:08am

@ tyler

that is absolutely amazing. . . and thanks for sharing that.

you are very lucky because i rarely remember what i dream, and never have any control or talk.

the 'machine' that kept the 'master' small is symbolic on so many levels.

there is just so much to think about in regards to the dream as a whole.

very cool stuff, but eerie, and can see why it has struck a nerve.

damn, you could start a thread on that and get a whole lotta feedback.

if nothing else it is a big push to be prepaired. (in more than one way)

all the best,


Katie Rose
Dec 15, 2011 - 2:09am


There are layers and layers in your dream/vision.

I believe you are being asked to fight. Your background shows you how to do that--on your knees. The battle is a Spiritual one.

I have concluded that for myself the best way to "fight" the evil I see encroaching all around is to offer up a sincere prayer as often as I remember to that asks:

"Dear LORD,

I ask that you will bring confusion to the camp of the enemy, so that they will turn their wrath on each other, and leave the people alone.

I pray this in the Name of your Son, Jesus.


Another powerful component is fasting. It doesn't have to be a complete fast, but removing items from your life on certain days (sugar on Fridays, coffee on Wednesdays, whatever you are led to do) helps tremendously in your ability to pray.

I believe you are being asked to step into your calling, and one component of that is the prophetic. Another component is that of a warrior. King David, with all his flaws, is a great example.

Dreams like that just don't happen...

As to the sword--Hebrews 4:12 -16 comes to mind.

Thank you for entrusting us with your dream. I am moved by it and what it portends for you and your God given destiny.


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