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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turd [at] tfmetalsreport [dot] com ()

  212 Comments

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¤
Jul 3, 2012 - 11:06am

BP

Perfect!

Be Prepared
Jul 3, 2012 - 11:01am

@Fortinbras - a moment of silence for your friend...

...may we understand the cost of losing the best and most noble of our brethren...

El Gordo
Jul 3, 2012 - 11:00am

Nigel Farage updates us on the European situation

Euro Crisis Breakthrough Breakdown - Nigel Farage

Truly outstanding.

Zoltan
Jul 3, 2012 - 10:39am

Fortinbras

Sorry for the loss of your friend.

I will think of you both today and tip a beer in his memory (hope he would like that).

z

Mickey
Jul 3, 2012 - 10:36am

1620.02

a couple of truns back are to be expected-no surprise

hui mounting another run up last 5 minutes--if that's sustained gold should break above 1620-notwithstanding that we are getting close to London close. Pig in a poke what happens short term

OrangeAlert
Jul 3, 2012 - 10:19am

$1620.02

Didn't handle that very well. Damn.

Number 47
Jul 3, 2012 - 10:18am

A theory.

This Libor fixing scandal is really gaining ground especially in the UK. Investigations into manipulation are starting to sound like they may have teeth. I think the banks are finally going to get a taste of some justice over this.

I think we all know the banks collude to corrupt markets globally. Banking is endemically corrupt as a system. I believe this is obvious now.

What are the chances that the banks have to get on the straight and narrow before the backlash begins? Could this be the final nail in the coffin for the silver short position of JPM fame?

I see they are being investigated for energy manipulation. Is the cftc going to grow a pair and wade in too?

Is this the start of justice for investors? It is certainly beginning to look like it.

Fingers crossed.

SaratogaPrepper
Jul 3, 2012 - 10:14am

Duplicate

But, loving the nice move up in gold and silver.

Short Stack
Jul 3, 2012 - 10:11am

Condolences and Best Wishes to the Family.

Life is always too short, friends are always too few.

SaratogaPrepper
Jul 3, 2012 - 10:11am

Sorry for the loss

@Fortinbras

Our sincere condolences on the the loss of your friend. After reading the article, it is easy to tell that he was a MAN among men.

We shall remember him and and his family in our prayers this evening.

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