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 ()


Code The Plumber Moderator Jane
Jul 3, 2012 - 2:09am

@Moderator Jane

I wish. On the segment I work from, that form doesn't even submit. There's bold red lettering at the top saying that cookies need to be enabled to use the page and the page is inoperable. There is no way around this filter software from my place of work. We're not local admins on our boxes, but all sites that aren't blacklisted by DoD work. I can shop, stream video, accidentally bring up non-g-rated material, etc. We're not locked down tight, but that whitelist request page is effectively static content on both firefox and IE8. The captcha image loads, but you can't submit the form. I haven't looked at the source for the page, but I'm almost thinking that there's a script that needs to load... from a DoD blacklisted site. Oh, the irony.

Regardless, you are blocking everything out of at least two major traffic hubs. Even if I successfully requested to be whitelisted, unless doing so simply switches the identification mechanism from IP to cookie, it'd be pointless because I'd be blacklisted again tomorrow. DoublePlusUnGood from within Big Brother's house.

Mariposa de Oro Moderator Jane
Jul 3, 2012 - 2:39am

@Moderator Jane

I've tried the CAPTCHA thing many times. It never works for me. No of the field entrys take. I just have to wait awhile, usually a couple of days before I can get on the site. The PMBull website almost always goes the same way at the same time for me.

Jul 3, 2012 - 3:29am
tranquillity Excalibur
Jul 3, 2012 - 4:32am

Resignation is not success

I am not one too promote violence.
But resignation is definitely not to be considered success, China has the right answer for guys like this.

Jul 3, 2012 - 5:16am


obvious Ag cap at 28 is obvious...

The Green Manalishi
Jul 3, 2012 - 5:25am

Sign-on you Crazy Diamond

Dedicated to Bob Diamond

Video unavailable

Threatened by shadow banking at night, exposed in the light.

Jul 3, 2012 - 5:27am

Jul 3, 2012 - 6:23am

@Code & Mariposa

My network in the office is also blocked. I've been using TOR with relay bridges to tunnel out. You can download a complete bundle with integrated Firefox. Still get the captcha screen all the time, but at least I can usually solve it. BTW, hitting enter after typing captcha code doesn't work - you always have to click the 'Submit request' or Request access ' button with the mouse. Working with TOR is slow, the captchas are impossible to read half the time, videos and all other active content are blocked, but it beats not having access TFMR. Hat tips work :-) Just be careful you don't get in trouble for using TOR itself.

Jul 3, 2012 - 6:50am


Hey, isn't it a little early for you?

Green Lantern So It Goes
Jul 3, 2012 - 7:03am

Re: The necessity of Critical Thinking

An equally valid interpretation (and one that is much more highly likely) is that the design in question is actually the initials of the designer of the original $20 Double Eagle - ASG overlaid - Augustus Saint-Gaudens. The original $20 double eagle minted from 1907-1933 has this also. It is much more likely that the bureaucrats at the US Mint slavishly devoted themselves to copying this great design that has been hailed as "the most beautiful coin" ever designed (Yeoman).

You are correct. The AG appearing on the St. Gaudens Gold coin is according to the following documentation, the initials of the artist, Augustus Saint Gauden. however, it is not ASG, but AG.

In 1909, the US Federal Mint issued the Lincoln penny. On it was the initials of the artist, Victor P Brenner. You can see it clearly on the bottom right.

For whatever reason, "it is reported" that there was public outcry about it and so the then Secretary of the Treasury that new coinage would only bear one initial of the designer.

However, this precedent didn't last very long as it was broken when Augustine Saint Gauden 20 eagle had two initials, not three, and the $5 gold piece by Bela L. Pratt. did bear three.


I'd also agree that posting information from youtube, various websites, where the author makes speculative predictions about the future based upon inside information and doesn't reveal their source becomes gossip, innuendo and breaches the protocol of any journalistic standard. Unless, one takes the few seconds to point out it's speculative nature than we become a community of sidewalk psychics flipping Tarot cards for the individual eager to know his future. This could be considered a higher crime than a media which often intentionally twists information or leaves information out.

Jul 3, 2012 - 7:18am

I didn't submit a guess...

.......But holy GAMOLIE!!!! Turd has to be rolling his eyes at the nonsense surrounding the hows and the whens. Over a cool hat? I'd like one too, but jiminy.

1. Here's the contest...

2. Here's when it ends...

3. Make sure to get it in in time...

4. Have fun watching...

5. Don't act like a whiny baby...

On a better note, how do we at least make some frns from the pending farming crisis later this year so we can pay

the higher prices and not cringe so much...?

Good luck peeps

Jul 3, 2012 - 7:43am

Today's solution....

You are all doesn't matter when you cross the finish line but just the fact that you finished makes you a doesn't matter if you finish but just the fact that you tried makes you a wait...just the fact that you thought about running you should be very very proud of yourself. Good job!

Jul 3, 2012 - 7:57am

Silver @$28

Video unavailable
Jul 3, 2012 - 7:58am


RE: gun video

The student was open-carrying his pistol which is perfectly legal in Maine without a permit.

Open carry is actually legal in many states. Cops like to bust people for doing it, however, under the pretense of "disturbing the peace," which is usually completely bogus. For many cops, the definition of "disturbing the peace" is Mr. or Mrs. Hippy, the local academic, who files a report saying some crazy guy is carrying a gun (oh, the horrors!).

In the video, it is clear that the law student understands the law better than Mr. Copper (not to be confused with the other Mr. Copper). Most of the time the victim of such encounter is at a disadvantage, not fully understanding the law and his rights. Not surprising, really, as one practically needs a law degree to make sense of the oppressive and convoluted gun laws in the various states.

Jul 3, 2012 - 8:00am

Hey kids

I think it's getting close to party time!

Silver getting ready for lift off

Jul 3, 2012 - 8:00am

sitting here trying

to figure out something to bitch about..............

no luck...............oh, well.............

guess i'll have to be happy to be fed and comfortable with beer in the fridge

Eric King
Jul 3, 2012 - 8:11am

Massive pennant

Looks like we are on track for a breakout around the Fed July 31st/Aug 1st meeting, after 15 months of pain its time for a serious rally.

Jul 3, 2012 - 8:11am

Add some SLW to Physical

While we all are long physical, stocks can be a nice way to play short term moves

stock gains are taxed at lower federal tax rates and state tax rates in my state than physical and stock gains can be offset by stock losses (not true with physical)

stocks can be bought and sold easily with lower transaction costs than physical

Turd has said that SLW pretty much tracks silver. It has many companies who sell it silver so it has less risk of a mine failure than most silver miners

and if you want to roll the dice there are lots of options on SLW you can play.

Is this the start of the explosive move? Stack but consider a little SLW on the side.

Short Stack
Jul 3, 2012 - 8:15am

My apologies if I came across as a Shill yesterday...

..but at shortly after 2:30 pm Central yesterday, Fox News DID report something about Iranian Legislation in favor of blocking the Strait of Homuz. I felt the subject warranted attention.

Since then, I've heard nothing more on the subject.

Jul 3, 2012 - 8:16am

Living Wills for five largest banks

  • July 2, 2012NEW YORK - Five of the biggest banks in the United States are putting finishing touches on plans for going out of business as part of government-mandated contingency planning that could push them to untangle their complex operations. The plans, known as living wills, are due to regulators no later than July 1 under provisions of the Dodd-Frank financial reform law designed to end too-big-to-fail bailouts by the government. The living wills could be as long as 4,000 pages. Since the law allows regulators to go so far as to order a bank to divest subsidiaries if it cannot plan an orderly resolution in bankruptcy, the deadline is pushing even healthy institutions to start a multi-year process to untangle their complex global operations, according to industry consultants. “The resolution process is now going to be part of the cost-benefit analysis on where banks will do business,” said Dan Ryan, leader of the financial services regulatory practice at PricewaterhouseCoopers in New York. “The complexity of the organizations will shrink.” JPMorgan Chase & Co, Bank of America Corp , Citigroup Inc , Goldman Sachs & Co and Morgan Stanley are among those submitting the first liquidation scenarios to regulators at the Federal Reserve and the Federal Deposit Insurance Corp, according to people familiar with the matter. The five firms, which declined to discuss their plans for this story, have some of the biggest balance sheets, trading desks and derivatives portfolios of financial institutions in the United States. Great Britain and other major countries are imposing similar requirements for “resolution” plans on their big banks, too. The liquidation plans are coming amid renewed questions about the safety of big banks following JPMorgan’s stunning announcement last month that a trading debacle has cost it more than $2 billion – a sum far too small to endanger the bank, but shocking enough to bring back memories of the financial crisis. –Chicago Tribune

Short Stack
Jul 3, 2012 - 8:23am

This was on ZH, too. Not sure

This was on ZH, too. Not sure what ever became of it.

Looks like the original source was out of Azerbaijan.

treefrog cavalier
Jul 3, 2012 - 8:26am


yes to all of the above,,,

...and... one of the "lots of options" is...

slw has warrants! more bang for the buck!

Jul 3, 2012 - 8:29am

I thought that today would be quiet

Glad to be wrong.

Let's see how gold deals with 1620.

Silver above $28 is nice, too.

Beastly Stack
Jul 3, 2012 - 8:29am


It appears the Cartel is at the beach for the holiday!

Jul 3, 2012 - 8:33am

Keep an eye on crude

See if it can get back above $88.

Jul 3, 2012 - 8:34am

Interesting that less than 12

Interesting that less than 12 hours after posting the hideous thought that the Fed was taking over the short positions disguised as spec shorts due to a loss of faith in JPM and the banks in general, we see that JPM is in hot water over regarding energy markets (the next Enron?).

John Galt So It Goes
Jul 3, 2012 - 8:41am

@ So It Goes re: Critical Thinking

I agree with your contention that critical thinking is required when considering any new "evidence" that challenges one's current understandings.

The earlier post about symbols found on AGEs was posted by me at the following link:

I linked this video more to show the image of the rising Sun than to show the initials of Augustus Saint-Gauden, which is coincidentally stylized to look like the Masonic symbol of a compass overlaid onto a "G".

ASG was one of America's most accomplished sculptors. One of his most iconic creations was an image called "Silence", which was commissioned for the Masonic Grand Lodge in New York in 1876.

This image is explained in greater detail in the attached link, which says that the female image is an allegorical figure of the Goddess Angerona, whose name means "she who raises up", as symbolized by the rebirth of the Sun.

Again, that symbol of the rising Sun appears.

While it can certainly be argued that Saint-Gauden's initials on the AGE are merely bearing coincidental similarities to the Masonic symbol, it is the recurring theme of the rising Sun (not only on the AGE, but also shown as a symbol of Illumination from behind the cap of the pyramid shown on the US $1 bill) which really piques my interest.

If you Google a fellow by the name of Jordan Maxwell and type in "rising sun" with his name you will find several videos discussing the significance of that symbol.

When it comes to critical thinking I also make every effort to do my own due diligence. That said, while I have read a great deal of Maxwell's work, and understand that the rising Sun symbol is of critical importance (in his opinion) I have yet to fully understand why, and what this is supposed to mean.

This is one of the reasons why I post links such as I did, to hopefully stimulate discussion and inputs from others as well so that, hopefully, we can all gain a better understanding of what is unfolding.

While the TFMR site is focused primarily on the rise and fall of PM prices such Gold and Silver, I consider the moves of these PMs to be symptomatic of something much bigger taking place in the world.

Jul 3, 2012 - 8:42am

Now I am starting to wait the

Now I am starting to wait the moment silver crosses 32 USD for further actions.

Jul 3, 2012 - 8:44am


Farage is great, but just look at the faces of the other guys - what a--holes

Moderator Washington
Jul 3, 2012 - 8:44am


Please check the Mod Forum. We'd like a ruling from you on some issues with the contest.



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