Monday/Tuesday Reading/Watching List (updated with charts)

Mon, Apr 2, 2012 - 7:21pm

As I've gone through the day today, I've collected a list of articles and videos for you. When you have a few moments, dig in.

Let's start with, potentially, the biggest story of the day. It's not the largest headline but it's a development that may have lasting repercussions:

And here is the companion piece to that:

Next, the latest from JS Kim at SmartKnowledgeU

Our pal, Jim Quinn, has written another, very interesting article. Here is Part I:

and here is Part II:

And so has Jeff Nielson:

Lastly, this video I found of Jim Grant. Shot in Washington DC last week, Jim takes about an hour to discuss and dissect the Federal Reserve. It's definitely worth your time to watch. WARNING: Jim is a brilliant, but somewhat dry, speaker. Do not watch while driving or operating heavy machinery as the following video is certain to produce drowsiness.

"What Does the Fed Do?" with James Grant -- Ron Paul Fed Lecture Series, Pt 2/3

And that's all for now. TF

9:55 am EDT UPDATE:

Just thought I might tag some updated charts onto this post and then start a new one later today, after the Comex close. On the charts below, you can clearly see the significance of 1680 in gold and 33 in silver. Now you know why those levels are being defended by The Forces of Darkness. Expect this to continue. It is my hope, however, that Comex buying will emerge again today, particularly after the London afternoon fix. Yesterday saw similar action so I'm hopeful that we'll see it again today.This would kick gold above 1680 again and silver would follow, up through 33. We need to consolidate those gains there and then begin to move away. Silver's next target would be 33.50-33.75 and gold would look to move on 1700. Lastly, note that the "smiles" I've been drawing on the 12-hour charts have just about used up their usefulness. Though I still fervently believe that the metals are forming rounded bottoms for this "correction", it appears unlikely that they will rebound as quickly as they sold off. But, since when is that news? It's always "the elevator down but the stairs up".


One last chart today...the S&P. The daily charts I print from the RJO site only show about 4 months worth of data so I've been waiting for this day as I knew the chart would only show price from the late November low until today. It's, frankly, astonishing. When have you ever seen a chart of anything that simply muddles along at a constant pace higher over four months? That this chart is of the S&P, the most-watched stock index in the world, makes it all the more ludicrous. Can anyone please tell me what, fundamentally, has occurred over the past four months to drive this index UP 25%, and in such a linear manner? Anyone? Anyone??? Nope, the perfectly-angled ascent (particularly the Jan-Feb timeframe where the index rose for 29 out of 41 days) is clear evidence of Fed interference and manipulation, all part of the increasingly desperate, ongoing campaign of MOPE and SPIN.


More later today. TF

About the Author

turd [at] tfmetalsreport [dot] com ()


Strawboss · Apr 2, 2012 - 7:24pm

Let me be the first to say

Let me be the first to say that Jim Grant is definitely someone worth listening to. There is a reason that Ron Paul respects him so much.

Lightning · Apr 2, 2012 - 7:27pm

Two is good

Two works for me.

Larry L · Apr 2, 2012 - 7:32pm


THURD's not bad. Looks like good reading for this evening.

gatortrader · Apr 2, 2012 - 7:32pm


I am Turd today

DaddyO · Apr 2, 2012 - 7:35pm


The Grant piece is excellent!


abguy4 · Apr 2, 2012 - 7:38pm

Anybody else watching this ~!???????

We are quitting!...of course....., we take several millions in my..our...pockets....just in case...we leave the mess like a souvenir.....hopefuly the sheep will not go after us!!

The list is now up to 450~!!!! See face book page for individuals;

¤ · Apr 2, 2012 - 7:50pm

Thanks T-Rex

Nice little bonus thread for today, appreciate it. yes

107 reads, 1 H/T?

¤ · Apr 2, 2012 - 7:51pm

SRS! yes

SRSrocco · Apr 2, 2012 - 7:56pm



This is a COPY FROM THE PAST BLOG . After all that work, Turd posted a new Blog...LOL. I just wanted to make sure many people got to see this. This was a reply from someone who asked why doesn't the UK just give the Falkland Islands back to Argentina.

The British don't take over lands unless there is some benefit to them. I would like to remind the reader just how much the Brits have taken over in the Globe.

1) South Africa & other parts of Africa

2) Canada

3) Australia

4) Control most of the assets in South America

5) Controlled India up until the middle of the 1900's

6) Controlled much of North Africa and the oil fields up until 1970's

There are probably more I have not listed, but we must remember, the Brits took South Africa because of the gold there. Almost 50% of all gold ever mined came from South Africa.

Recently, South African gold production has fallen substantially, but this does not change the fact that the British know how to ROB, LOOT and STEAL from other more worthless savages & natives in the world.

This is also true for modern day Falkland Islands:

You can see in the RED OUTLINED AREA are were the Brits are exploring for oil presently. Currently, the reserves are estimated to be between 5-60 billion barrels of oil. I would imagine it will be closer to the 5 than the 60, but this is still a great deal of oil.

The Brits early on found out where the best places to RAPE, PILLAGE and STEAL before even the Americans woke up from their stupor in the early 1900's. This is why the Brits want to keep Falkland Island..... taking RESOURCES that belong to the more INTELLIGENT and WHITE CLASS of BRITS and away from those lousy south americans who don't deserve it (my sarcasm added)


The OILDRUM did a great reply and post on this issue in which you can find HERE: Rockman, who is a constant poster at the OILDRUM (and a working and paid oil engineer) stated the following:

ROCKMAN on April 1, 2012 - 10:28pm Permalink | Subthread | Comments top

before in any producing area in the world.


I just noticed how the Citi graph was incomplete. Doesn’t show the full history of how US liquid hydrocarbon growth has occurred. The Citi graph predicts an increase of about 6 million bopd in the next 10 years or so. Actually the US has experienced such growth before so why not again? From 1940 to 1970 (30 years) US production also increased 6 million bopd. Granted that growth occurred during the time most of the major oil fields in the country were discovered. And of course both WWII and the post war boom added a tad of incentive to the effort.

So I think if Citi’s opinion is that we’ll develop additional production 3X as fast as has ever been seen in our country we should not be critical of their projection. We should acknowledge their courage to predict a growth rate several times greater than ever seen in the history of US development and greater than ever witnessed

Bravo Citi!

Someone else posted a nice graphic that actually SUMS it up even better than Rockman:

If some of you who don't believe in PEAK OIL, spent a little time on the OILDRUM and read not only the posts, but many of the comments by oil engineers and geologists... you may begin to realize why things are going to get very UGLY....soon.

dropout · Apr 2, 2012 - 8:05pm

What Sayeth the Sum Total?

The fundamentals are changing.

They are inexorably getting worse.

So long as the fundos stay the same (fat chance) or worsen (good chance) the precious metals valuations will rise.

Not that gold and silver are 'worth' more, its that the curencies are worth less.

Since the beginning of the year, despite gold and silver price capping by the cartel, the PM's are up against ALL major fiat currencies. Which proves continuing printing and currency devaluation.

All the above posts by Turd have a common denominator ~ the fundos are getting worse. Keep stacking.

bernard · Apr 2, 2012 - 8:11pm

APMEX banks with JP Morgan

Why, oh why, does APMEX choose to bank with JP Morgan? Perhaps it has something to do with their offices being located in what once the Federal Reserve building in Oklahoma....

Dobocop · Apr 2, 2012 - 8:17pm

Thanks for the new thread

Reading the days posts it seemed like Turd's last thread got hijacked by trolls. Great post SRS informative as always.

Jager06 · Apr 2, 2012 - 8:20pm


I finally hit 5% of total assets in my physical metal holdings. Feels good, but now I want 10%....except every time I try to cross the river to my secret storage area, I tip the damn canoe and lose a bunch. I am going to have to wait for break up next month to try to get any of it back. I know where its at anyway and that counts for something....right?

And for the about Anchorage during Rendezvous??? Plenty to see, plenty to do and lots of raw gold and furs for sale......

Roger Godberd SRSrocco · Apr 2, 2012 - 8:22pm

Get your facts straight

Doesn't take a neurosurgeon to check out some historical facts.

When the Brits landed in the Falklands in 1765 the only oil they could feasibly have been interested in was whale oil. As with the rest of the world it was mainly about exploration for strategic advantage over European competitors, plus a land grab, by force if necessary, when any worthwhile resources were discovered.

Empires throughout history have always utilised superior knowledge of technology to overpower exisiting indigenous civilisations or have you conveniently forgotten about the native Red Indians?

Of course the British took advantage whenever and wherever they could. As greedy western capitalists it would have been un-natural to fail to do so. The US has done exactly the same via the fiat USD.

Homo sapiens are aggressive, intolerant & tribal. Brits have these characteristics in spades.

So stick that in yer pipe an smoke it.

abguy4 · Apr 2, 2012 - 8:25pm

Recovery - getting yur fair share?

"In 2010, as the nation continued to, "recover from the recession", (LMFAO)

a dizzying 93% of the additional income created in the country that year,

went to the top 1% - those with at least $352,000/yr income.

In the Clinton era, 45%of the total income gains went to the top 1%,

In the Bush ,"recovery", the figure was 65%,

now it is 93%.

Any more questions?

abreik · Apr 2, 2012 - 8:29pm


That is interesting, and thanks for sharing. That won't affect my decision to purchase from APMEX though (which I might do eventually since they have a few semi-numis that I can't/won't get elsewhere). APMEX is a dealer, I don't think they really have any responsibility/desire to fight the banksters. If they choose to bank with the morgue, let them. They probably turn that into more physical inventory pretty fast anyway. I assume they are massively short SLV too since they make their money on premiums and not speculation (and need to hedge their on hand reserves). I won't fault them for shorting paper metal either (assuming they do that).

Dr G · Apr 2, 2012 - 8:33pm

Asking why APMEX (who I

Asking why APMEX (who I believe to be a terrible bullion company due to their outrageous prices) uses Chase to bank is no different than asking why that individual uses Wells Fargo to do their personal banking. Every bank is full of criminals and they are all terrible. They all prolong and cover the fiat ponzi scheme and continue to abuse bail-out monies that the TAXPAYERS gave to them. No, I'm not offended by APMEX using Chase. I'm offended by banks in general. A wise man once said I should be my own bank, or else I would be the road. Hmmm. Who was that...? EDIT: as the above poster said, I wouldn't be shocked if APMEX hedges by shorting paper. I think most large dealers probably have hedges in place.

Dr G · Apr 2, 2012 - 8:36pm

Let's have the convention in

Let's have the convention in Idaho and we can all work one of our gold claims. Gotta be down for some hard work though. Actually, my vote is for Vegas.

Big Rocks · Apr 2, 2012 - 8:43pm

Beer Recession!

Be prepared, i thought I'd chime in on the beer recession anomaly you. Brought up on the previous thread. It's Medical Marijuana! Both the alcohol and pharmaceutical industries Have seen their sales hurt due to the growth of MM in those states that have it. That is why Obama is cracking down on MM now after promising not to go after those in compliance with state laws. More examples of who your elected officials work for. Oh and btw traffic fatalities, DD arrests are also down in many of those same states.

Dobocop · Apr 2, 2012 - 8:45pm

Head and shoulders everywhere;-)

Every silver chart I look at from 30 days up looks amazing!

sixdollarsilver · Apr 2, 2012 - 8:45pm

great reading

thanks turd!

looking forward to hearing more about your trading area...

SRSrocco · Apr 2, 2012 - 8:47pm


Jewellery strike ends as India defers excise duty on non-branded gold

Author: Shivom Seth
Posted: Monday , 02 Apr 2012


With the Indian government stating that it would delay the implementation of hiking the excise duty on non-branded gold jewellery, the bullion strike in India has been officially called off. Jewellers in Mumbai and several parts of the country were back to their stores Monday afternoon, expecting a revival in demand.

The strike by jewellers and retailers began on March 17, immediately after the Union Budget, to protest the government's decision to impose excise duty on non-branded jewellery and doubling of the import duty on gold to 4%. Market estimates have placed the loss at a staggering $2.1 billion.


Well, the big scare that INDIA's gold buying would drop because of this import duty no longer holds true. Looks like the strike by the big country's Jewellers paid off.


Author: Julie Gordon
Posted: Monday , 02 Apr 2012

TORONTO (Reuters) -

The prospects of a mining boom in Canada's Arctic territory of Nunavut - once as bright as the Northern Lights - are fading fast as costs in the inhospitable region spiral higher, forcing writedowns on two major gold projects there.

.....Agnico-Eagle Mines, which owns the only working mine in Nunavut, recently booked a partial writedown on changes to the mine plan at Meadowbank, while cash costs at the gold mine have risen to more than $1,000 per ounce.

Without access to hydro-electricity, projects in Canada's Far North are dependant on diesel fuel to generate power. Agnico uses up to 60 million liters of diesel gasoline a year at Meadowbank, making energy one of its biggest cost pressures.

.....It's a risk Newmont Mining isn't willing to take. The world's No. 2 gold miner shelved its Hope Bay project in the northern territory and booked a $1.6 billion writedown after the economics of the project failed to meet its investment criteria.


I remember having a email exchange with BOB CHAPMAN. I was asking what he thought about my Peak Silver article. He told me I had made the wrong assumption about oil. He too believes the world has a creamy nugget center of oil. I like Bob a great deal as he is also one of the good guys. On the other hand, Bob only promoted two stocks if you listen to him on his weekly talk show on

He only gave quotes for Agnico Eagle and Silver Standard. Let me tell you.... in 2011, both of them got CRUSHED. Part of Agnico Eagle's stock loss was due to this Meadowbank mine in Nunavut Territory north of Canada. Can you imagine that Agnico Eagle consumes over 20 million gallons of diesel per year at this one mine alone??

Anyhow... many of you have heard that Russia and the U.S. are going to drill for oil in the ARTIC...LOLOL...HAHAahaah. If Agnico Eagle's CASH COST for producing gold at the Meadowbank mine in the cold northwest territory is $1,000 an ounce (and this does not include ALL COSTS), then what on earth do you think it will cost to explore, drill and produce oil in the ARTIC OCEAN??

JEEESH....if Newmont took a $1.6 billion writeoff in their mining property in Nunavut, you can just imagine their CASH COSTS would have been.

Maybe one day the people of the world will WAKE UP and smell the LIMITS TO GROWTH and realize that we are just going to have to live within limits.

Igiveup2 · Apr 2, 2012 - 8:49pm


Last week the USS Enterprise passed through the Suez Canal. This is the third US aircraft carrier on station in/around the Arabian Sea. This is in addition to a fourth French carrier on station there as well as a ton of naval support craft. Two or three weeks ago the Israeli Cabinet voted 8 to 6 to allow for a strike against Iran. This was supplemented with an agreement to kick the Iranians out of the SWIFT arrangement. All of this should make all of us itchy.

Today I was at my local Gander Mountain. I was in looking at an AR-15 over the weekend and decided to buy it. I determined which gun I wanted, which scope and then asked the guy about ammo. He said there was two boxes of 40 rounds on the shelf. I asked when they expected more. He said he didn't know. He said their rep was in the store late last week and told them shipments were halted for an indeterminate amount of time. Apparently all manufacturers of 223 ammo (used by the military) produce for both civilian customers and the military. He said for the time being, all production was going to the military.

I came home, went online and bought some. There was no indication from the site I purchased it from that there was a shortage but they had many cases of different brands in inventory.

I don't know if it means a damn thing but the guy at the gun counter treated it like a year or so ago when you couldn't get handgun ammo. However, at that time, it was due to unusually heavy consumer demand.

It's either something or it's not. Prepare accordingly.

Big Rocks Big Rocks · Apr 2, 2012 - 8:51pm

Arctic oil SRS

"Anyhow... many of you have heard that Russia and the U.S. is going to drill for oil in the ARTIC...LOLOL...HAHAahaah. If Agnico Eagle's CASH COST for producing gold at the Meadowbank mine in the cold northwest territory is $1,000 an ounce (and this does not include ALL COSTS), then what on earth do you think it will cost to explore, drill and produce oil in the ARTIC OCEAN??" Well believe it or not the Russians said they were building floating nuclear plants to power their arctic oil drilling. We're freaking doomed I tell you. No one here gets out alive!

Tube · Apr 2, 2012 - 8:55pm

Is it me or does Jim Grant

Is it me or does Jim Grant look like Bill Nye the science guy?

BASEBALL 13 · Apr 2, 2012 - 8:58pm


The REALLY interesting thing about APMEX's new relationship with the morgue is that APMEX is rolling out a new custodial program for the physical PM's you buy there. They are going to offer IRA's and regular accounts in which they will 'hold' your PM's for you! And guess who the custodian is.....

Some words of wisdom from the Good Book - Hosea 4:6-10


SilverRunNW · Apr 2, 2012 - 9:00pm

Thanks Turd: Ron Paul Money Lecture Series

I had noticed the Jim Grant video, just had not taken the time to watch it yet. Thanks for posting it.

I also noticed that this is part of the "Ron Paul Money Lecture Seriers", three parts. I'm hoping that the information contained within the series will be useful to pass around to my friends and family that "don't get it" yet and can be used as an educational tool.

Here is the series:

"What is Money?" with Joseph T. Salerno -- Ron Paul Money Lecture Series, Pt 1/3

"What Does the Fed Do?" with James Grant -- Ron Paul Fed Lecture Series, Pt 2/3

"What About Money Causes Economic Crises?" with Peter Schiff - Ron Paul Money Lecture Series, Pt 3/3

DavidSilverSwe · Apr 2, 2012 - 9:07pm

Jim Quinn and "the fourth turning"

Thoroughly enjoyed the article and the references to the "the fourth turning" and the concepts

presented in the article. best article I have read in a while. thanks for the link Turd!

I_ate_the_crow · Apr 2, 2012 - 9:24pm

The Corporation Nation

Video unavailable
captaj · Apr 2, 2012 - 9:38pm

Well shit on my face! Gold

Well shit on my face! Gold and silver are money!?! But how will our friend Ben print that? Is that what people over the centuries have figured out time and time again. Loved the videos. Thanks turd!

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