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 - 10:41pm

OT But Worth It…

…While finding that ukulele clip above I stumbled upon this gem by the incomparable Bob Brozman, one of the best musicians alive. Whole family gathered around the computer and stared slack-jawed at the screen while Bob did his thing.

Even if you don't think slide guitar music is your cup of tea, check this out anyway. Unbelievable virtuosity. This is what having total mastery over an instrument looks and sounds like.

Bob Brozman Blues
Dyna mo hum
Jul 2, 2012 - 10:45pm

Indigo nice coin!!

Since your coin is dated 1913 note the news from the year 1913. Fed income tax started that year among other things.

SilverFocker Vypuero
Jul 2, 2012 - 10:50pm

@ Vypuero re: Medicare

"From previous thread - answer me one question. If it is such a good deal, why is it not voluntary?"

It is voluntary. part A is free and automatic..........part b is the everyday medical side and is voluntary @ less than 100 bernanke's a month. If later, one decides that they made a mistake by not taking out part B then they will pay an extra premium based on the time lapse of not taking it out when you became eligible.

Medicare is an insurance scam with insurance companies being the beneficiary's of this scam, they reap the cost basis for their coffers at the expense of the taxpayer's via Medicare.

If the government would reverse this monster of a giveaway then Medicare would become solvent almost overnight, yet the insurance companies would throw a shit fit.

clueless one
Jul 2, 2012 - 10:57pm

Silver 1hr chart looking good!

glad I cashed in some paper notes for some shiny..

Exbroker TF
Jul 2, 2012 - 11:04pm


I started stacking silver and gold in 1999. What I am seeing here is the same shit I saw in 99. All you need is patience now. Try telling that to the community. Who did win the race? The turtle? Or the bunny? Keep your chin up Turd. It makes a very large target for your detractors. Just kidding.

Jul 2, 2012 - 11:05pm

Craig Emerson's dance routine

Regarding the carbon tax clip on page 1, I frankly have no idea what caused Emerson to break out into an extremely poor rendition of "Horror Movie" by Skyhooks.

For those that are not familiar with this band, they epitomised the late 1970's populance revolt against authoritanism. Not too dissimilar to punk in the UK.

Not only did his little sing along make him look extraordinarily idiotic, it would also not be out of the ball park to hypothesise that conspiracy theorists the country over will liken his performance to:

a) a statement upon the Machivellian tendencies of the media and opposition spruiking of a deeply unpopular policy, or

b) we all watch too much television and instead should just blindly obey Our Blessed Leader's policy ideas rather like Boxer out of Orwell's Animal Farm.

Either way, I'm embarrassed to be Australian today.

Jul 2, 2012 - 11:09pm

Tin Foil Hat ~ 10 yr UST vs. 10 yr german bund

If you go to this link on the chart of the 10 yr UST and add the symbol BX:TMBMKDE-10Y you'll see a comparison of the 10 yr german bund. I've looked at it off and on for the past several months while all this ZIRP and now NIRP has gone on and especially so since the 10 yr UST zipped quickly below 150 for a short period of time.

Generally speaking, both 10 years have followed each other pretty closely over time but something started happening right after mid June of this year. I started to notice a divergence and it's actually pretty obvious where the 10 UST plummeted but the German 10 yr after that started reacting differently even after the 10 yr UST came back to the range it's stuck/managed in now.

I'm not sure what that implies right now going forward but I think it notes watching if that divergence continues. I recall posting a few months back about how the Fed could eventually directly and adversely impact Germany and the ECB if Germany played hard ball a little too much with the Euro/EU. I'm not saying that's what happened or that was the reason the 10 yr UST dipped hard but from that point on the 10 yr relationship changed. Something took place in the 10 yr bond market at that moment other then our friend Ben not saying anything QE-ish around that time.

Just prior to that some of the talk on here from myself and others was that we noticed something funny going on with the 10 year and how it traded against certain metrics. It seemed off.

I'm sure Germany agree's.

Big Buffalo
Jul 2, 2012 - 11:14pm

@Dyna mo hum

Thanks for the information regarding Smith and Wesson. I haven't done much research nor knew much of their history. I was wondering why there was such a big difference between them and Ruger. The question now is weather or not the stock increase is solely based on increased sales, or if management is getting better and the quality is getting better. Could this be a Harley Davidson story? Once a great American company, turned shit, then back to dominance.

Gold and Silver on the move tonight. Again.

Jul 2, 2012 - 11:19pm

Sorry rl999

I did not see your post of making sure to pick something someone else hasn't. I just saw Turd's post, left, came back a few hours later and made my guess. It wasn't until the new thread that I noticed the guess wasn't on there. No worries, it's just a hat. A frickin awesome ass hat, but just a hat. And I hope 27.12 is way, way off on the low side as well.

bam sprite
Jul 2, 2012 - 11:25pm


Maybe he has Peter Garrett envy?

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