Three Items For The Overnight

212
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). https://www.traderdannorcini.blogspot.com/2012/06/hedge-funds-continue-to-pummel-silver.html

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. https://www.bullionbullscanada.com/intl-commentary/25570-bankers-fraud-now-too-big-to-fail

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.)

https://www.bbc.co.uk/programmes/b01k9qd8

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

TF

About the Author

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  212 Comments

Moderator Washington
Jul 2, 2012 - 6:31pm

And I just approved three

And I just approved three guesses that were made before the deadline, but were not immediately published. So there are at least three guesses not on any list.

¤
Jul 2, 2012 - 6:32pm

BP

Nicely done!

Bollocks
Jul 2, 2012 - 6:39pm

Nice job rl999

You should get a hat

for doing all that!

Bollocks
Jul 2, 2012 - 6:40pm
rl999
Jul 2, 2012 - 6:43pm

Chart

I enjoy the site, for it to be enjoyed by all as a community little things like this need to be done. We self moderate fairly well, and I view the collating as well worth the effort.

I come here because there are contrary opinions and feel that they are necessary to achieve and sustain a balanced mind. I learn something everyday, both from TF and other members.

Regardless of what happens we all have a significant advantage compared to the vast majority that don't have an awareness of alternative views. be it monetary or world.

Admiral Ag Bar
Jul 2, 2012 - 6:46pm

@ OutlookingIn

That was a great link from Kunstler! Our healthcare system is a giant racket...and we all have to join in. We are screwed on so many different levels.

¤
Jul 2, 2012 - 6:49pm

Dyna mo hum

I bought it from Apmex about 1 week ago. It's a cleaned specimen and I got it for under $950.

And it's about to have it's 100th B-day next year

Even though it won't win any beauty contests, it still has .48375 ozs. of Au and lots of history and rarity behind it. When possible, I'm going to try and buy more and some other Liberties. But the rarity of this coin is cool to realize ....and hold.

There are visible stars going all the way around the edge. What an awesome coin!

Here are some 1913 facts I just found.

Designer:
Augustus Saint Gaudens
Weight:
16.70 grams
Edge:
Raised Stars
Mintage:
442,000
Metal Content:
90% Gold, 10% Copper

The 1913 is very similar in overall rarity to the 1910, 1912 and 1915 and it is relatively easy to find in MS-63 or lower grades. Even in MS-64, the issue is available with some regularity. Gems, although certainly rare, show up sufficiently often that obtaining one is not the extraordinarily difficult task that many issues of this series present. A small number of exceptional quality (better than MS-65) examples of this issue are known to exist, including at least two virtually perfect ones.

The 1913 is typical very sharply struck, and the lustre ranks right up there with the very best in the series. Color varies somewhat but light to medium yellow and greenish gold are the colors most often seen. Some examples also have light rose, orange or coppery highlights. The surfaces have virtually none of the granularity of the 1910 to 1912 Philadelphia Mint issues and can be either fully frosty or somewhat satiny. Top grade examples of the 1913 are among the most attractive of the series.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Frank Zappa warning

Frank Zappa 1974 11 17 Dinah Moe Humm
¤
Jul 2, 2012 - 6:52pm

rl999

Nicely said and thanks again!

bam Biochar
Jul 2, 2012 - 6:53pm

@biochar

...and the Republicrats march on. If they don't make you stupid one way, it'll be another.

tmosley
Jul 2, 2012 - 6:57pm

I just had a rather hideous

I just had a rather hideous idea.

What if the "Spec shorts" are actually direct Fed shorting, in much the same way that they have been suspected of buying treasuries under the table in the past, with their purchases being lumped in with "household purchasing"? If I were the Fed, and JPM was starting to get cold feet, or was experiencing major insolvency issues, I would want to move the suppression I had been funding out of their hands before it blew up. In the past, I had thought it would just be dumped on another bank, but at this point, I'm not sure that there are any good options. Maybe GS. But they might be afraid that they will have problems as well.

This may be a little "out there", and it is certainly unproven, but it seems well within their MO. The implications of this are pretty staggering, in that it would mean that the Fed no longer has any faith in ANY of the banks, which probably means a collapse is near.

It could be small fry, but it seems to me that the market is so thin, and everyone is so freaked out, that there just CAN'T BE THAT MANY PEOPLE WILLING TO SHORT. Who are these people?

I would appreciate anyone else's thoughts on the subject.

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