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 ()


NW VIEW Katie Rose
Jul 2, 2012 - 9:08pm


I just talked to my brother-in-law farmer in Western Washington. He is baling hay as fast as possible and there is a huge crop of hay all over this side of the mountains. He has been selling last years and a few bales from two years ago. We have avoided the bad heat that most of the nation is feeling and our gardens are filled with organic peas and strawberries (yum).

The cost of food is going to rocket soon and will add to problems this winter.

So It Goes
Jul 2, 2012 - 9:09pm

The necessity of critical thinking

Hi all,

I thought it important to emphasize the necessity to think critically about all the information that bombards us every day. This filtering is one of the most difficult tasks I face everyday. Between job, family, and trying to continue to be informed I can feel overwhelmed. I am not here to flame - I just think it is good to share when I can. I consider this community as family.

A few days ago a poster put up a video stating that "masonic symbols" are found on the current American Gold Eagle coin. This video states as "fact" that the current AGE has a "compass and G" on the obverse and is thus "Masonic" and is posted without comment.

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).

Here's the lesson for me tonight - it is awfully hard to separate out verifiable data from the noise. We will have to do this to survive - critical thinking applies to information that comes from without and within.

Keep on stacking - I am more and more sure.

Jul 2, 2012 - 9:20pm
bam cpnscarlet
Jul 2, 2012 - 9:45pm


> 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???

Who said that? No need to put words in my mouth. I was objecting to the inclusion of the "critical thinking" bit (which biochar had bolded). And what do you know, Texas lawmakers all of a sudden realize what utter morons they are and backtrack on that position (but they can't change the platform of course):

“[The chairman of the Education Subcommittee] indicated that it was an oversight of the committee, that the plank should not have included ‘critical thinking skills’ after ‘values clarification,’” Elam said. “And it was not the intent of the subcommittee to present a plank that would have indicated that the RPT [Republican Party of Texas] in any way opposed the development of critical thinking skills.” Elam said the members of the subcommittee “regret” the oversight, but because the mistake was part of the platform approved by the convention, “it cannot be corrected until the next state convention in 2014.” TPM asked Elam what the intent of subcommittee had been in including the “Knowledge-Based Education” plank. “I think the intent is that the Republican Party is opposed to the values clarification method that serves the purpose of challenging students beliefs and undermine parental authority,” he said. These are the same geniuses that want to teach creationism as part of the science program in schools. Meanwhile, the Chinese and other Asian cultures continue to wipe the floor with US students in math and science, laughing all the way to the bank at the foolish Americans.
bam So It Goes
Jul 2, 2012 - 9:46pm

@So it Goes

>Here's the lesson for me tonight - it is awfully hard to separate out verifiable data from the noise. We will have to do this to survive - critical thinking applies to information that comes from without and within.

Good post. I'd also add that, in order to do the above, you have to be able to read and think critically on opinions and philosophies that might be wholly different from your own. That is a hard thing for most people to do.

It's so easy to fill your mind with things that back up your pre-formed beliefs. Arch conservative and arch liberals alike are the most guilty of this.

eg. I specifically follow a couple of trading services/sites that have very conflicting opinions on the markets and macro/political events. I can't just accept one guy's views and organize my trading in that fashion. I'm forced to think critically about what is actually going on and how I should best approach it.

The key here is that it is hard to do this. It is work. It takes effort. It's much easier to see the world as you already see it.

cpnscarlet bam
Jul 2, 2012 - 9:53pm

@bam - and if you're the type

@bam - and if you're the type that still believes that mechanistic Darwinism can explain the "accidental" occurrence of complex cellular microbiology, then you're the one who needs some extra math homework - namely probs and stats.

You're beginning to sound more and more like a one-note Somba.

R man J
Jul 2, 2012 - 10:05pm

Hey...So it Goes

Hat tip to you for taking the initiative exposing the tin foil hat on the (non) Masonic symbol on the 1 oz gold eagle.

When I read that, I felt intuitively that it was probably a false suspicion and that it was likely the designers initials.

American Gold Eagles are vindicated again.

Jul 2, 2012 - 10:20pm

It's a "Samba"!

The "One Note S​a​mba" sounds especially cool on a ukulele.

James Hill - One Note Samba

Not ordinarily the spelling police, but all things considered, in this instance…

Personally, I wish more people were like the 'one-note-samba' - it's a cool tune.

Jul 2, 2012 - 10:21pm

Why some feel "critical thinking skills" are "dangerous"

The problem is not that some conservatives are against people actually thinking through things clearly. What we have here is an issue of a language gap.

There are those who feel that the "critical thinking skills" curriculum in public schools was a trojan horse designed NOT to teach kids how to think, but to prepare them to be brainwashed into socialist/communist/globalist thought processes.

See the book "The Deliberate Dumbing Down of America" for more on this:

Ebook available for free:

I'm not sure I agree with the author that all new educational advances are evil or part of an agenda, but it is an interesting read (so far, I haven't finished it yet).

Jul 2, 2012 - 10:37pm

World without Gold

A world without love - Peter and Gordon

Up $ 3.30

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