Summarizing Our Predicament

Tue, Apr 17, 2012 - 3:44pm

In the past 24 hours, two terrific pieces of "research" have been published by a couple of prominent Turdites. The presentations do such a fine job of summarizing the monetary part of our current predicament that I decided to create this entire new thread around them and begin a discussion.

Let's start with this brief presentation by Brent Johnson of Santiago Capital in San Francisco. It's concise and to the point, which makes it ideal for you to copy&paste the url into an email that you can send to every single family member or friend whom you are trying to "enlighten".

Hot on the heels of Brent's work comes this great new blog from Chris Martenson. Following along on a similar theme, Chris statistically makes the case you've heard me state around here for ages, namely that "tomorrow is NOT going to be like yesterday".

By the way, if you haven't yet, now would be a good time to listen to last week's podcast with Chris. It's about 25 minutes in length but well worth your time:

And now that you're done with these three assignments, anyone want to buy some gold?? TF

About the Author

turd [at] tfmetalsreport [dot] com ()


Apr 17, 2012 - 3:45pm



Big Buffalo
Apr 17, 2012 - 3:45pm

got it

First. Ba-zinga

Apr 17, 2012 - 3:47pm



Apr 17, 2012 - 3:51pm

Link doesn't work

That Goldmail link does not go where you want it to go . . .

Thanks the day's offerings!

Apr 17, 2012 - 3:52pm


Total silver OI is back to within 1 contract of the high for the year set on 2/24. Hmmm.

Apr 17, 2012 - 3:52pm



Nah, can't be turd 'cos Turd comes before first; guess that makes me Threeth (3th).

*Ahem* Turd, your first link is to this thread, not the one you intended.

Yooper Rick
Apr 17, 2012 - 3:56pm

Thanks Turd

I had to stop cleaning my guns long enough to thank you for all you do for us.

Apr 17, 2012 - 3:59pm

well I don't know about you boys

but I can't wait to feel the excitement of the blood letting of JP Morgue that will come (soon!) when they lose control of this bad boy. I was at my LCS today and some guy came in and bought 100 gold eagles in front of me. There is serious money being dropped into the physical market right now. What a bunch of idiots the C/C/C complex is, with MFGlobal fiasco they really have inevitably set off the chain of events that makes their COMEX darling price fix totally irrelevant. give it time, boys! meanwhile, stack mercury dimes.

Also, in other news, your friend Bernank Shmuelle Rockwell here, just picked up a nice electric furnace... so I will be buying 999+ silver shot, and pouring my own bars. Perhaps I will make some custom Turd bars!

All the best to my stackers.

Cordially the Bernank,

Head Money Printer


FYI turd, links to this blogpost!

Yooper Rick
Apr 17, 2012 - 3:59pm
Apr 17, 2012 - 4:01pm

Silver OI @turd

Turd or anyone,

In your opinion:

Are we looking at retail shorts about to get squeezed? Or, is the EE looking to smack down some longs into the high 20's?

Apr 17, 2012 - 4:03pm


There she is again. coming around to check us out. If i had a girl keep doing this to me i think i would need to nail her. So nail gold. buy gold. wear gold, eat gold, drink gold, lick gold, :) It's seducing us. It's playing head games with us. If gold could bend over it would do that right now and say this is what im doing to all of you. gold is being the nasty girl next store. keeps coming around so you can have some fun with it.

I'm going to buy my gold some flowers tonight

Yooper Rick
Apr 17, 2012 - 4:04pm


Fixed. Not sure why the original link didn't work.

Apr 17, 2012 - 4:05pm

Combining the OI and the CoT

Combining the OI and the CoT structure and I think we are in the verge of short squeeze.

Apr 17, 2012 - 4:07pm

thanks for the quick response

And I hope you're right....

but if you're not, we can just stack more cheaper

Apr 17, 2012 - 4:17pm

Short Squeeze

every little nasty one likes to do a little short squeeze once in a while. but they she comes back and farts on you:)

I Run Bartertown
Apr 17, 2012 - 4:17pm

Thanks TF and all

I consider the vast majority of what I read to be bullshit. And I'm often not given to taking advice. Given these traits, it's remarkable for me when I reflect how much TF and all the people here have really impacted my actions.

There is no doubt. I've increased the pace of my stacking beyond what I would've been doing otherwise. I'm holding more oz right now than I would be without you all.

I am grateful.

Apr 17, 2012 - 4:30pm


YOU donated lately!!!!!!!!!!!!!!

Apr 17, 2012 - 4:36pm

(No subject)

Dinar & Dirham: A Halal Transaction
Apr 17, 2012 - 4:38pm

Is there a freaking neodymium

Is there a freaking neodymium magnet at $1650? WTF?

Apr 17, 2012 - 4:56pm
Apr 17, 2012 - 5:07pm

The World from Berlin

"Both Sides Must Move or there Will Be War"

Amid ongoing tension about Iran's nuclear program, representatives from Tehran and six global powers held talks in Istanbul on Saturday. Despite cautious optimism from diplomats, German commentators warn on Monday that the specter of war still haunts the region.

Relief and cautious optimism followed Saturday's 10-hour dialogue between Tehran and six world powers. Despite the gaping differences, the Istanbul talks broke a 15-month stalemate and were described as positive enough for the sides to schedule another meeting for May 23.

Despite early signs of progress, the two sides still remain far apart in their positions. Iran pushed for an end of sanctions and international recognition that its uranium enrichment is for peaceful purposes. Meanwhile, the United States demanded evidence that the Islamic Republic is not creating a potential nuclear arsenal. Both Washington and Israel have threatened to forcefully eliminate any nuclear weapons Iran might seek to develop.

Posted on website

The link is here.

Apr 17, 2012 - 5:09pm

Rising Interest Rates: Spain Slides Further into Crisis

Spain is once again experiencing tremendous pressure from the financial markets. With the economy sliding and Spanish banks no longer able to finance themselves independently, doubts are growing among investors that the country can service its debts without outside help. Some are already speculating that Spain will have to request aid from the European Union's euro rescue fund.

On Monday, the interest rate on 10-year government loans rose for the first time this year to over the 6-percent mark, increasing by 0.13 points to 6.12 percent. Investors are demanding increasingly higher risk premiums in order to buy Spanish bonds.

The cost for credit loss insurance also rose to a record high. For securities with a five-year term and a face value of $10 million, insurers are demanding an annual premium of $520,000.

"We're back in full crisis mode," Rabobank strategist Lyn Graham-Taylor said, according to Reuters. "It is looking more and more likely that Spain is going to have some form of a bailout." For weeks now, markets have been rife with speculation that Spain may have to borrow money from the European Financial Stability Facility (EFSF) in order to shore up its foundering banks. Figures ranging from €50 billion to €100 billion are being bandied about.

Posted on website

Link is here.

Apr 17, 2012 - 5:11pm
Apr 17, 2012 - 5:12pm

JP Morgan Lodges Copper ETF Filing with NYSE

By Melanie Burton and Chris Kelly

Investment bank JPMorgan has lodged a filing to list a copper-backed exchange-traded fund (ETF) with NYSE Euronext in the first sign for nearly a year that a new product, potentially tying up 60,000 tonnes of metal, may list.

JP Morgan Commodity ETF Services lodged a proposal to list and trade shares of JPM XF Physical Copper Trust in a filing dated April 2, 2012.

According to a NYSE spokesperson, the filing has already been submitted to the US Securities and Exchange Commission (SEC) for review and will post to the SEC's web site as well as its Federal Register by April 23, for public review and comment.

Upon completion of a 45-day review process, the product could come to market as early as June of this year, the spokesperson said.

Posted on Reuters website

The link is here.

Apr 17, 2012 - 5:15pm


I have only had two really great pick-up trucks in my life. I bought an old 1962 corn-binder (for you that are under 50, that is a IH) and a 1975 Ford. Both were full sized and the corn binder was bullet proof. I could not over load it and it just kept running until my wife backed it up one day and tore the drivers side door off. It was not worth fixing but the 75 Ford was a great truck also.

My son and I moved into a new construction area to start some spec homes but we could not seem to land any custom construction housing even though we were in a boom. The two of us had old trucks, paid for and loved them. One day a sheetrocker gave me a bid on our house and he said "you will have to pay for the labor and material in advance before I start the work". I said "why, is it the trucks that we drive"? He said "yes, I do not think you will have the funds to pay me on completion". I told him, "Many of the contractors you work for with diamond plated Chev's have big truck payments and my $800 truck is paid for". We learned a big lesson. PERCEPTION ...>>>

We bought two new 4x4 trucks and just paid cash for both. We started obtaining new customs and built in that development for ten years as fast as we could do the work.

MY Point: The metals market will never really take off until the world wide investors, big and small, have their perceptions change as to the value and great need to be stackers. Until then we will just keep having a sine curve.

Dr G
Apr 17, 2012 - 5:26pm

The lease rates for silver

The lease rates for silver have risen today and the rates for gold have fallen. I'm not a fan of the Kitco lease rate chart for accurate current data, but I do like the graph for that that may found at:

Silver 1 month rate held even at -0.2627%.

Silver 2 month rate rose +0.5005 to 0.3471%

Gold 1 month rate fell -0.0025 to -0.1127%

Gold 2 month rate fell -0.0070 to -0.0204%

Those rates are expressed as annual percentage rates and are an indication of bank to bank borrowing charges. The degree to which they are negative would suggest the degree to which there is a lack of demand to borrow the metal.

The graphs for silver show the increase in all lease rates (excluding the 1 month which held even):

Apr 17, 2012 - 5:29pm

see if i got this right

higher lease rates = higher demand to borrow the metal?

why do people borrow metals? to short the market?

Apr 17, 2012 - 5:34pm

The Jim

Video unavailable
Big Rocks
Apr 17, 2012 - 6:11pm

Combining the OI and the CoT structure and I think we are in the

"Combining the OI and the CoT structure and I think we are in the verge of short squeeze." Sir Turdmeister: Can you plug in the multiple year high 140,000,000 ozs ag in the Comex warehouses? Forget the registered vs. eligible categories as they can swap in a heartbeat. Thanks

I Run Bartertown
Apr 17, 2012 - 6:11pm

I miss America

"When asked for advice Tuesday by a WUSA9 reporter, former Discovery astronaut Dr. Anna Fisher told a boy watching the shuttle, “Study Russian.”

"Charles Bolden, NASA chief, says that the President commissioned him with sending the program in a new direction. NASA’s “foremost” mission? Muslim outreach."

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