Happy(?) Tuesday

Tue, Jun 12, 2012 - 11:36am

Hmmm. It's Tuesday. Gold and silver both just surged rather nicely. Gee, I wonder why...

For your answer, simply do two things:

  1. Look at the calendar and notice that it's Tuesday
  2. Think about the market action of late last week

Consider. Ponder. Surmise. Reflect. Ruminate. Speculate. Contemplate. Deliberate. And what do you get??? It's Happy Tuesday!

Always remember and never forget that the Commitment of Traders survey is every Tuesday at 1:30 pm NY time. This means that, by the Comex close, The Forces of Darkness must adjust their books to account for/HIDE any clues to their past week of "activity". Lately, as discussed here ( https://www.tfmetalsreport.com/blog/3841/terrible-tuesdays), Tuesdays have been terrible. As you know, The Cartels have been actively buying and covering while the silly specs have been selling. To cover some tracks before the survey, The Cartels have sold on Tuesdays, thus the name "Terrible Tuesdays".

However, you surely recall the action of last week when The Bernank spoke and PM prices were drilled lower. You likely recall the unprecedented Thursday night dumping, too. To "cover tracks", some of these fresh shorts need to be covered. Et, voila!! Zee Cartel buys zee metal today and zee price goez upp!

Along the way, they can't help but trip a few buy stops and, lo and behold, we get a surge of over $20. I don't know about you but I'll take it. We'll likely give back most of it at some point tomorrow or Thursday but whaddayagonnado? Let's take this slowly and rebuild a week at a time. For now, my only goal is an UP/green week and a Friday close above $1610. Silver, too. Let's watch and hope for a Friday close back above $29.

Just a couple of housekeeping items. First, some talk on the previous thread about "bottoms". Let me remind you of this:

  1. I was on the record saying 1625 was the bottom (WRONG)
  2. I was on the record claiming that the long-term trendline, near 1620 at the time, would hold (WRONG)
  3. I've been maintaining for several weeks now that 1525 is The Bottom (MAYBE)
  4. I've drawn why on several, different weekly charts (OBVIOUS)
  5. I've recently referred to this as a "quintuple bottom" (Sept, Dec and 3x in May)
  6. I've even mentioned that the only way 1525 fails is if The Gold Cartel attempts one, last down spike to gun the buy stops below there and suck in one last hunk of spec shorts. IF they did, this would represent an amazingly compelling BUY opportunity.

The latest "Hat Contest" concludes on Thursday. Did anyone make a spreadsheet of all the guesses? If you're looking to review, all of the picks are found in the comments of this thread ( https://www.tfmetalsreport.com/blog/3802/anniversary-hat-contest).

Lastly, The Jackass and I are going to be visiting again tomorrow. I'll record the conversation and post it later this week. One of the features of the new subscription podcast site (when it finally goes live next week) will be member participation in conference calls and webinars with featured guests. To give you a taste of this, let's give something a try. Please use the comments section of this thread to submit your questions for Jim. Obviously, we won't be able to address every single one of them but I'll pick out a handful and ask Jim to answer them.

That's all for now. I've got 1615 and 29 so things are looking good. Have a great day! TF

2:40 pm EDT UPDATE:

​I've you've been reading the comments today, you may have noticed this:

gold weak into the close

Submitted by Turd Ferguson on June 12, 2012 - 12:09pm.
This likely means that "insiders" have rec'd word that a Globex raid is brewing where The Cartel re-establishes some shorts, post-CoT survey.

Watch closely.

Why did I think this? If my rationale behind "Happy Tuesday" is correct, wouldn't you assume that The Cartel would come right back, after the Comex close and the CoT survey, and put some of their shorts right back on? Hmmm. Lo and behold, that is exactly what has happened. See below:

Again, this is nothing unusual. Standard modus operandi. Let's just hope the price hangs in there and regains 1610 by Friday.

About the Author

turd [at] tfmetalsreport [dot] com ()


Jun 12, 2012 - 11:41am

Oh yeah!

osted by Wealth Wire - Tuesday, June 12th, 2012

The fundamentals for silver and gold are very strong, and with all the massive bailouts, which are increasing debt levels, they are just getting stronger. Until a significant portion of these debts is repaid or defaulted on, it would be foolish to talk about a top in precious metals.

The repayment of debt (or default on debt – which is more likely) will result in significantly reduced economic activity. Significantly reduced economic activity will have a negative effect on the stock market, which in this case, will likely result in a huge crash. It is these conditions (a deflating debt bubble) that will drive gold and silver prices significantly higher.

Why? Because this will not just be a normal type of reduced economic activity, but one in which the monetary system as a whole is questioned or collapses (due to the excessive debt levels).

In a crisis like this, it will be all about preserving value, which will make gold and silver the most wanted goods. The excessive debt levels we have currently, mostly represent artificial value, or value that will never be realised. We now have a great opportunity to convert that soon to be destroyed value into real value, by buying gold and silver, with fiat currency.

In my opinion, silver bullion presents the better opportunity, when compared to gold. Silver bullion is still trading much lower than its 1980 high, and also at relatively historic lows against gold.

Silver Flag

Here, is a follow-up on my previous article about the similar flag formations on the silver chart. Below is a graphic which compares the current pattern on silver (from about the beginning of 2011 to present) to a 2007 pattern:

On both charts, I have suggested how the flag patterns might be similar, by marking similar points, from 1 to 6 (and alternatively from a to f). Based on this comparison, it appears that the silver price might now have found that point 6 or h, and is about to increase significantly.

Kevin C
Jun 12, 2012 - 11:42am

Thanks Turd

Looking forward to the Jackass interview.

Jun 12, 2012 - 11:43am

After some great reset,

what will personal debt be like, like car loans mortgages etc?



Jun 12, 2012 - 11:44am



Omg i really made it ;)

My first question to Jackass: can he be more specific about the new sheriff...wealthy families in the orient, is this the same liason Benjamin (mad) fulford talked about. If so, how reliable would that be...

secondly: what do his contacts tell him about the elections - who does he reckon has the most support from the "old powers" ...Obama or Romney...and does any of that change what the price of gold and silver does in the near future

Jun 12, 2012 - 11:44am



yah happy Tuesday! but doesn't that make tomorrow woeful Wednesday?

Jun 12, 2012 - 11:46am

happy tuesday

was wondering if they would return after the latest added shorts....

Jun 12, 2012 - 11:46am

from the previous post...

everybody should watch this:

Video unavailable
Jun 12, 2012 - 11:48am

Just a feeling

Maybe this rally might stick rather than give back.


Jun 12, 2012 - 11:49am


Prob not.As I just posted on the previous thread, we will prob see the snp go 2% if we hold 1620s, most likely we will come down under 1610, but you know they have to spin it, or highlight other items besides a $20-30 gold move up, not down of course, they would be all over that.

Hoping to learn
Jun 12, 2012 - 11:52am

I am SOOOOOO happy

Just came back from the LCS and excited because I just picked up

3 new 1/10 gold coins...a Panda...Australian Kangaroo and a Philharmonic today is a good day. I stop almost every day to see what's new, today was my lucky day.

Dr G
Jun 12, 2012 - 11:54am

Bugzy, could be. I'm ready

Bugzy, could be. I'm ready for this thing to move. I've bought my share of sub-$30 this go around.

Jun 12, 2012 - 11:55am

Crimex Price Doesn't Matter

Crimex prices doesn't mean squat, they can manipulate it all they want and eventually the true free market prices will show. Go on ebay and search for gold or silver bullion, both barely went down in free market price even though the crimex price went down. I am more into silver and from what I have seen, when silver price was at $33 ebay was selling for $38ish, today at below $29, coins are still selling for $36+ with many still selling for $38+, the people who are aware know that even at $38 an o, this is a steal. You may loose out a couple extra o's if you bargain shop but the silver bugs definately won't be bitching when were look at $60 by years end and $150 by mid to late 2013...keep stackin'!

Jun 12, 2012 - 11:55am


Not First

Jun 12, 2012 - 11:57am

50 day ma @ 1619.2

50 day ma 1619.2

Rico babaganoush2307
Jun 12, 2012 - 12:02pm

I'm not arguing with your

I'm not arguing with your basic premise (much), but don't advise people to use ebay prices as market prices. They are an over-inflated joke! I routinely buy similar coins at LCS, at auctions, etc for close to spot. There is, as yet, no significant divergence between paper and physical--the physical price is set by the paper

Jun 12, 2012 - 12:02pm


With the advent of the new subscription site, does this imply that the tfmetals report podcast will cease to exist in its current form? ie no more interviews?

Apologies if you have answered this somewhere, as I've obviously missed it.

Jun 12, 2012 - 12:04pm

The new sheriff

I just want to know if he's gotten any closer in figuring out if the new sheriff is from Basil or from the East? He seemed to lean toward the east, but wasn't really confident about it or have support for his guess other than gold was going that way.

Also, what makes him think that this new sheriff supports free markets, sound money, liberty, etc in the US and why? What would be the gain for the new sheriff to have the US a more free market in the long run?

Jun 12, 2012 - 12:05pm

Just Not Yet, But Close...

The cartel machinations will carry on until they don't.

That day is close but not here just yet.

Remain cautious and vigilant, but keep stacking at these cheap prices and stay away from paper.

We must wait until gold breaks through $1,710.00/oz and silver breaks the $34.50/oz barrier before we may consider opening the bubbly.

Jun 12, 2012 - 12:06pm

Question for Jim

Turd, thanks for the opportunity to pose questions! Here's one that occurs to me:

Jim, in one of your previous podcasts, you mentioned that a huge pillar supporting the system may have been knocked out, and if I understood correctly, the pillar has to do with interest rate swaps. Could you please elaborate on this point a bit? I would be very interested in learning more about interest rate swaps and how they are used to depress or manipulate interest rates.

thanks, snick

Nick Elway
Jun 12, 2012 - 12:07pm


Jim Willie's "New Sheriff in Town" reminded me of Fulford's "White Dragon"..

Could Fulford's fantasy actually have a basis in fact? Could we get any independent way to research and verify the existence of this New Sheriff?

babaganoush2307 Rico
Jun 12, 2012 - 12:08pm

Re: I'm not arguing with your

I agree that you can get them much cheaper than they go for on ebay, but what it comes down to is that people are still willing to pay ebay prices, if coin and pawn shops stopped selling coins today, would you go to ebay and pay their prices to be able to keep stacking or would you stop?

Jun 12, 2012 - 12:12pm

Question: Insane Buy Opportunity?

As banking system collapses, does it ever make sense to borrow against your credit cards & lines of credit to take possession of physical?

Sounds crazy, but think about it: If system failure is at hand, will there be anyone looking to be paid back or if so, will it be at highly depreciated fiat versus physical, so that you get to keep a nice piece of the stack you borrowed to buy?

Agree that timing it makes this a highly risky undertaking!


Larry L
Jun 12, 2012 - 12:13pm

Tea Party Silver Lady buying Silver

Yesterday was much happier than today. Monday was the day I took one of the "Silver Ladies" from our local Tea Party to the coin shop and she picked up some very nice looking Morgans, Walking Liberty halves, and some Roosevelt dimes. We wanted sharp detail in the coins and not worn-out ones while we still have the opportunity to pick and choose. Is this a great country or what?!

Remember there are only 2% of the American people buying gold and silver. Just think if only a few more people started buying....the prices will start to escalate quickly.

Silver under $30 is a gift from those that are suppressing the price. BUY BUY BUY!!!

Don't forget, Get out of Debt ASAP and get your Spiritual House in order!

ClinkinKY achmachat
Jun 12, 2012 - 12:15pm

Vote for Silver 2012

So who's the second part of the Silver Party ticket?

Turd/? 2012:)

Jun 12, 2012 - 12:27pm

JW questions

It's been many years since JW related the details of the incident in Germany when the govt agents congratulated him on

putting so many puzzle pieces together, (if my memory is accurate). As I recall this was the stimul-ass for JW getting his

jack out of the US. Turd dwellers might like to hear this one. Thanks for all contributing on the Barrick/SLW issue.

Jun 12, 2012 - 12:28pm

Jim Question

Question for Jim: Is it a good time to sell gold and buy silver? One could even go 1:30 and turn the extra into something else!

Nuclear Rocketman
Jun 12, 2012 - 12:39pm

Question for Jim

Obviously the ongoing transfer of physical metal to new owners and being taken out of the system can't continue forever, so are there indication(s) that the end is approaching?

Jun 12, 2012 - 12:43pm

Timeline question

Question(s) for Jim

We all know the game, the process and the results to date...

WHEN does he see the precious metals complex (metal and shares) taking it's place in the sun?

second part

Does he see the gradual ascendance of Gold via a widening recognition of it as the Tier 1 asset it should be ...or something violent and tumultuous (bond collapse, sovereign default or other black swan event orchestrated or otherwise?)

Jun 12, 2012 - 12:44pm

Question for Jim

I have always wondered since I have been in the PM stacking mode, how and where the leaders of China are in their role with TPTB?

Yes, China has been accumulating gold and silver and may be protecting themselves from a depreciating USD but....at the meantime, how much are they working with the EE manipulating the PM markets to keep their own paper-yuan ponzi going? I see them having the same motivation as the US in stretching this as far as possible. The same goes for most other countries that are running their own paper ponzi.

They may be in bed with these banksters that control this world financially in moving towards a one world currency. That seems like a very likely scenario and if that is so, can they in the future do their part in suppressing the PM markets?

I would love to hear from this forum what their opinion about this is too.

Jun 12, 2012 - 12:47pm

Meet the new boss.....

Here is a question. Are the new players merely the same old players just moving their assets from West to East? In reality never letting go of their physical. Meet the new boss (Rothschild controlled) , same as the old boss (Rothschild controlled.)


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