Three Items For The Overnight

Mon, Jul 2, 2012 - 6:01pm

Thanks to all who submitted guesses for the latest hat contest. The contest is now closed. Recognizing you need a new thread for the overnight, here are three things to discuss.

First, Trader Dan doesn't have the time to post every day but, when he does, it's almost always worth your time to read. His post from Friday was fantastic. Below is a chart of his which I lifted from the post. It shows that we currently have a "record" amount of naked spec shorts in silver. Surely, this is a bullish, contrarian indicator and it follows along with the theory I've posited here that The Silver Cartel is methodically shifting the burden of being short from themselves to the specs (sheep).

Next, our pal Jeff Nielson has penned a great new article. This time he focuses on the LIEbor scandal. Please take the time to read it.

Lastly, please take 30 minutes to listen to this program from BBC radio. It is a fair and balanced discussion of the benefits and challenges of a return to "the gold standard". It features two guys with whom many Turdites have become familiar, John Butler and Detlev Schlichter. Well worth your time even though it presupposes that "The West" will have some choice as to whether or not the world returns to sound money. Also, the arrogant AGA at 23:00 almost makes me homicidal. (If an admin can figure out a way to embed this audio, please do.)

Okey-dokey, that's all for today. See you on Tuesday.


About the Author

turd [at] tfmetalsreport [dot] com ()


Jul 2, 2012 - 6:06pm

Just Missed It...

AU = $1625.40

AG = $28.12

Jul 2, 2012 - 6:14pm


Strike 3 I'm out.

Odd - I just went to the previous thread to give a heads-up on the new thread, and I cannot post any comments there - the box to type your message is gone, as are all the posting buttons as well.

If I was being moderated for some odd reason I wouldn't be able to post here - so what gives?

Jul 2, 2012 - 6:14pm

In the for what it's worth column....

Missed my guess deadline by one minute. I just arrived at the beach, and have received my reward! Just for fun and no hat. au=1658.21 ag=28.71

Jul 2, 2012 - 6:20pm



I previously forecasted that we would have between 2.5-2.8 million oz of silver eagle sales in JUNE. We hit the top end of that figure. The US MINT updated June from the 2,538,000 figure last week to 2,858,000 as of JUNE 30th/ Sat. So, since Sunday, we have added another 269,500 silver eagle sales.

Here is the difference from last year.


2011 JAN-JUN = 22,303,500

2012 JAN-JUN = 17,392,000 (-20%)

In the first quarter silver eagle sales were down 28%, but in the second quarter sales have picked up and we are only down 20%. This is not as bad as gold eagle sales.


2011 JAN-JUN = 576,000

2012 JAN-JUN = 343,500 (-40%)

Here we can see that Gold Eagle Sales are down twice in percentage terms compared to silver.

Again, the BIG PLAYERS are buying a great deal of gold at this time. Retail investment demand is only a fraction of the over all buying. I will get into more detail in my US GOLD IMPORT-EXPORT article....

Jul 2, 2012 - 6:21pm

and meanwhile...

the dumbing down of America continues: here is actual language from a position statement in the 2012 Texas Republican Party Platform:

"Knowledge-Based Education – We oppose the teaching of Higher Order Thinking Skills (HOTS) (values clarification), critical thinking skills and similar programs that are simply a relabeling of Outcome-Based Education (OBE) (mastery learning) which focus on behavior modification and have the purpose of challenging the student’s fixed beliefs and undermining parental authority."

Must. Feed. System. More. Obedient. Debt-slaves.

Be Prepared
Jul 2, 2012 - 6:22pm

I happened to find myself at the road of many crosses...

You would think that I would know this by now.... that nothing will be what it seems, but I am still amazed how I can turn a corner to find the unexpected both in good and bad ways.

I happen to find myself at crossroads which veer in many unknown directions... the how and when seem to go on endlessly much to my travail. I ponder much this evening, because when nothing seems to be happening... the pause does give a moment to reflect on how much has happened and on what will unfold.

More than Half this Year has been written and the world hasn't fallen apart, yet.... which I must say is a good thing.... but the storm clouds are looming and I see the horseman of the Turning preparing their stampede. I once saw a document, written on vellum, that seemed to contain ideals rarely, if ever, ensconced and forged as the basis for a modern government where the destiny of the one... the many could be written by the labours of their hands... their hearts... their minds. It seems faded now... and trodden under the heels of the wretched and vile who have sought to see the iron of its ink bleached out of the minds entrusted to hold its vigilance.

There are no answers for me in the stars I see and I am left to know that I have been unhinged from the frame which I was placed within.... I stand and the road of many crosses is a question which has no answer...

Jul 2, 2012 - 6:22pm

This just showed up.... the door.

It's a 1913 in about the same shape except my dates a bit fuller. It's about the size of a quarter and has a nice heft to it relative to it's size. That's my smallest and first piece of Au around 1/2 oz.

It won't be the last


Thanks for the update!

Jul 2, 2012 - 6:27pm

@ SRS Yes. Still Asleep

Thank you for your post. Great info.

Agree the retail 'Johnny on the street' has yet to wake up. It will take another catastrophe to accomplish this.

"The US economic system is about to blow up.

The banking sector has been kept technically alive on the life support of accounting fraud since 2008, but that artful racket is coming to an end because sooner or later the abstraction called "money" must make truthful representations of itself in relation to reality, or else people cease to accept its claim of value."

Dyna mo hum¤
Jul 2, 2012 - 6:28pm


Thats a fine looking specimen. What company did you acquire that from if you don't mind me asking?????

Jul 2, 2012 - 6:28pm


I simply closed the comments on the thread at 5:00, when the contest closed.

Key Economic Events Week of 11/11

11/12 Three Fed Goon speeches
11/13 8:30 ET CPI
11/13 11:00 ET CGP on Capitol Hill
11/14 8:30 ET PPI
11/14 Four Fed Goon speeches
11/14 10:00 ET CGP on Capitol Hill
11/15 8:30 ET Retail Sales
11/15 8:30 ET Empire State Manu Index
11/15 9:15 ET Cap Ute and Ind Prod
11/15 10:00 ET Business Inventories

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Key Economic Events Week of 11/11

11/12 Three Fed Goon speeches
11/13 8:30 ET CPI
11/13 11:00 ET CGP on Capitol Hill
11/14 8:30 ET PPI
11/14 Four Fed Goon speeches
11/14 10:00 ET CGP on Capitol Hill
11/15 8:30 ET Retail Sales
11/15 8:30 ET Empire State Manu Index
11/15 9:15 ET Cap Ute and Ind Prod
11/15 10:00 ET Business Inventories

Key Economic Events Week of 11/4

11/4 10:00 ET Factory Orders
11/5 9:45 ET Markit Services PMI
11/5 10:00 ET ISM Services PMI
11/6 8:30 ET Productivity & Labor Costs
11/6 Speeches by Goons Williams, Harker and Evans
11/8 10:00 ET Consumer Sentiment
11/8 10:00 ET Wholesale Inventories

Key Economic Events Week of 10/28

10/30 8:30 ET Q3 GDP first guess
10/30 2:00 ET FOMC fedlines
10/30 2:30 ET CGP presser
10/31 8:30 ET Personal Income & Spending
10/31 8:30 ET Core Inflation
10/31 9:45 ET Chicago PMI
11/1 8:30 ET BLSBS
11/1 9:45 ET Markit Manu PMI
1/1 10:00 ET ISM Manu PMI

Key Economic Events Week of 10/21

10/22 10:00 ET Existing home sales
10/24 8:30 ET Durable Goods
10/24 9:45 ET Markit flash PMIs
10/24 10:00 ET New home sales
10/25 10:00 ET Consumer Sentiment

Key Economic Events Week of 10/14

10/15 8:30 ET Empire State Fed MI
10/16 8:30 ET Retail Sales
10/16 10:00 ET Business Inventories
10/17 8:30 ET Housing Starts and Bldg Perms
10/17 8:30 ET Philly Fed MI
10/17 9:15 ET Cap Ute and Ind Prod
10/18 10:00 ET LEIII
10/18 Speeches from Goons Kaplan, George and Chlamydia

Key Economic Events Week of 10/7

10/8 8:30 ET Producer Price Index
10/9 10:00 ET Job Openings
10/9 10:00 ET Wholesale Inventories
10/9 2:00 ET September FOMC minutes
10/10 8:30 ET Consumer Price Index
10/11 10:00 ET Consumer Sentiment

Key Economic Events Week of 9/30

9/30 9:45 ET Chicago PMI
10/1 9:45 ET Markit Manu PMI
10/1 10:00 ET ISM Manu PMI
10/1 10:00 ET Construction Spending
10/2 China Golden Week Begins
10/2 8:15 ET ADP jobs report
10/3 9:45 ET Markit Service PMI
10/3 10:00 ET ISM Service PMI
10/3 10:00 ET Factory Orders
10/4 8:30 ET BLSBS
10/4 8:30 ET US Trade Deficit

Key Economic Events Week of 9/23

9/23 9:45 ET Markit flash PMIs
9/24 10:00 ET Consumer Confidence
9/26 8:30 ET Q2 GDP third guess
9/27 8:30 ET Durable Goods
9/27 8:30 ET Pers Inc and Cons Spend
9/27 8:30 ET Core Inflation

Key Economic Events Week of 9/16

9/17 9:15 ET Cap Ute & Ind Prod
9/18 8:30 ET Housing Starts & Bldg Perm.
9/18 2:00 ET Fedlines
9/18 2:30 ET CGP presser
9/19 8:30 ET Philly Fed
9/19 10:00 ET Existing Home Sales

Key Economic Events Week of 9/9

9/10 10:00 ET Job openings
9/11 8:30 ET PPI
9/11 10:00 ET Wholesale Inv.
9/12 8:30 ET CPI
9/13 8:30 ET Retail Sales
9/13 10:00 ET Consumer Sentiment
9/13 10:00 ET Business Inv.

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