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 - 7:15pm

1,000 Hat Tips

What's in a Name...

Submitted by cpnscarlet on July 2, 2012 - 7:03pm. Hat Tip! 0

So, bam and biochar - you're in favor of various government education programs with fancy names? Send your kids to the re-education school run by Uncky Sham and all is well???


"we've always been at war with Eastasia."

Jul 2, 2012 - 7:33pm


I like outside of the box thinking and you're good at it. I can't address the mechanics of it and the numbers like you or TF and others can, but at this point I wouldn't be surprised by anything.

It would actually surprise me if the Fed/Treasury weren't doing all sorts of unimaginable things that they have within their means and within their unaudited books. JPM amd GS and other TBTF shadow entities being the facilitators sounds about right.

The onion skin of deceit and influence in the markets and CB's will be known or audited someday and what we find out will be stunning. Will it be 5 or 50 years from now? Sooner? Idk.

Dyna mo hum¤
Jul 2, 2012 - 7:35pm

Indigo nice coin!!

Thanks but what the hell do I know. I thought those coins were too high at $300 apple stock too high at $100 Ruger stock too high at $10 and Google would be another dot com go bust. Wtf is wrong with me?

Jul 2, 2012 - 7:36pm


RL - I appreciate you putting the chart together and all, but just because my silver guess happened to be the same as your guess should not mean I don't get one. Just means we both should win a hat. I would greatly appreciate you adding my guess for silver.


P.S. - There's some self moderating for you.


Submitted by OrangeAlert on July 2, 2012 - 4:16pm. Hat Tip! 1

Silver - 27.12

Gold - 1583.12

Jul 2, 2012 - 7:37pm
Jul 2, 2012 - 7:44pm

Any "Down Under" Turdites want to fill us in on this...

...Aussie Moonbat? Payoff comes at approx. 1:30 for the impatient types. (Carbon taxes)

Video unavailable
Jul 2, 2012 - 7:46pm

More On Barclays

Must read articles IMHO: 1) "Libor scandal: How I manipulated the bank borrowing rate" 2)"Britain's regulators may have fostered Libor rigging" 3) "Why I quit Barclays: Marcus Agius in his own words" Pay attention to the spin! This is a guy who's allegedly responsible for stealing trillions upon trillions of dollars yet he gets to tell his side of the story while none of the victims gets the same. Pay attention to the pic with the Sky and clouds at his background... Doesn't he look like the almighty himself? Do you think that this pic is a mere coincidence? Pics influence the subconscious mind much more than words. 4) And last: The Coverup: "Barclays rate fixing scandal: Parliament to launch inquiry" "He added that he would ask the joint committee to report by the end of this year." By the end of the year it'll all be forgotten off course. Off course, none of these things ever takes place in the Mining shares or in the Precious Metal markets. Manipulations and conspiracies can only take place in other markets. Trust me.

Jul 2, 2012 - 7:59pm

LIBOR - it's not going away ...

From ZH:

"With Europe, the BBA, and virtually everyone shocked, shocked, that the global bank cabal schemed and colluded for years to manipulate interest rates, so far only America appears relatively blase, and totally ignorant, about the issue."* (*my caps)

This is big stuff ladies and gents. Really big. Do check it out.

Jul 2, 2012 - 8:05pm

Watch the cop get put in his place…

…for stopping this guy whose only 'crime' was legally carrying a firearm.

Video unavailable
Jul 2, 2012 - 8:06pm

Faber On Europe: Think GERxit Not GRExit

IndigoStar7 On Europe: Consider a BOExit asap

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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
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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
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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
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9/27 8:30 ET Core Inflation

Key Economic Events Week of 9/16

9/17 9:15 ET Cap Ute & Ind Prod
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9/18 2:00 ET Fedlines
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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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