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 ()


Short Stack
Jul 3, 2012 - 11:59am

Well, I don't know about the Zionist part now...

But I can agree that the radical Islamists would just love to go dancing through a planet filled with the graves of everyone else.

Jul 3, 2012 - 11:59am

a word of advice...

somehow.... well... a little birdie told me that...

the silver philharmonic 500 ounce mint boxes from the Austrian Mint are a bitch to lift! Smooth dark grey hard cardboardish material, no handles, no grip area, combined with a very small volume for those 16 kilos, make them almost impossible to get off the floor!

Jul 3, 2012 - 11:59am


FYI Penson stock is at 14 cents. I just called TD Ameritrade/Thinkorswim--my broker. They say they are now self-clearing, that they do not use Penson anymore.

Jul 3, 2012 - 12:03pm

I have to smile...

every time another banking crime blows up in the money junkies' faces. I wonder if this spike is more related to Lie=bor gate or Hormuz gate? Dag...good call on last post. I sometimes think we are all "whistling past the graveyard" these days... Gonna put a bit more stock in the pantry today...

Eric Original
Jul 3, 2012 - 12:06pm


Man up, my friend. Put your back into it. If not doable, stop f*cking with silver and go to gold. :)

Jul 3, 2012 - 12:13pm


Not only do I have to keep hearing that from the wife, but now also from fellow turdites?

Jul 3, 2012 - 12:13pm


Yes monster boxes do have some weight to them + just think you are getting a workout while working on your stack.

no pain no gain.

Jul 3, 2012 - 12:14pm


Dupe post

Jul 3, 2012 - 12:34pm


Turd and many others have clearly identified and provided evidence of the manipulation that occurs in precious metals paper prices - I'm not questioning that.

What I question is why do the specs continue to come back for more punishment? It's very clear what occurs during each of these raid/short squeeze cycles - so why do they keep playing the game? That makes no sense to me. The fund managers aren't dumb, they can see the manipulation too, right?

Dagney Taggart
Jul 3, 2012 - 12:37pm

@Short Stack

That's OK. It will all play out as it should in the end. Just don't be surprised at the outcome. Many people will be surprised, even suicidally-horrified at who the great satan turns out to be.

Jul 3, 2012 - 12:40pm


Sincere condolences from here as well. Too bad our political leaders only share that kind of sacrifice with their words and not their deeds.

Jul 3, 2012 - 12:43pm

Final answer

Mrs White; in the Laboratory; with a Candlestick.

Final answer.

Happy 4th everyone

Mariposa de Oro J Y
Jul 3, 2012 - 12:45pm


Thanks for the tip. Aside from being on a DoD network, even from home, I'm willfully ignorant of all things computer software (much to my boss's frustration). For me, a computer is just a thingy that's used for shopping, reading email and TMFR. If I can't get TMFR there's still email and shopping. I know, I know, what kind of electronics technician isn't really into computers? One with a life, lol. I sew, garden and snorkel. Those are much more fun than futzing with a computer. ;o)

Dagney Taggart
Jul 3, 2012 - 12:51pm


Gotta keep the sheep more afraid with Hormuzgate than what really hurts them. Hmm... I wonder who has the power to get all the news networks pointing in that direction instead of at the Barclays/BoE inconvenience?

Jul 3, 2012 - 12:56pm
ClinkinKY Dagney Taggart
Jul 3, 2012 - 1:03pm

Good thing you didn't mention...

...Islamoc*#k or you'd have a fatwa issued on your life. Just sayin'.


Romney off to suck zioc*ck

Dagney Taggart
Jul 3, 2012 - 1:27pm


OK. Islamoc*ck. What's another to go with the die-dirty-goyim "award" I already have?

ClinkinKY Dagney Taggart
Jul 3, 2012 - 1:36pm
Dagney Taggart
Jul 3, 2012 - 2:04pm


Thanks. But safety is useless in a gutted economy.

Jul 3, 2012 - 2:15pm

Interesting comparison:

Interesting comparison:

Here are two low-level, garden variety white collar criminals, who embezzled from their employer in a typical scheme involving accounts payable. Eventually, these obvious schemes unravel, and it becomes super easy to trace who are the criminals.

I mention the comparison angle by bringing up the Barclay's fraud re LIBOR allegations.

Which crime harmed innocent victims? Which crime is more worthy of punishment for the perpetrators? Which crime will be punished? Who will do time?

What is the lesson?


When the lesson is that no harm at all will come to the perpetrators of a huge, systemically rampant fraud, but that immediate and painful harm, criminal incarceration, etc., will come from low-level white collar fraud, then what can we expect to see going forward?

Get any value out of paper, before it is stolen or devalued. There is NO excuse for any further delays in so doing. If one loses their assets to fraud, whether from the FED fiat scam, or from other massive, high-level, systemic fraud such as LIBOR manipulation, I will not have sympathetic ears.

Prepare or else. It sure seems to be accelerating.

(EDIT) From a source:

"Latest reports have CFTC actually commending Barclay's cooperation and advising that "two dozen other banks are under investigation." . . . [T]he mortgage sector impacts are profound. Also, CFTC has noted the anti-trust implications of these actions and suggests that later guilty parties may be facing criminal prosecution,as well as civil (FINALLY!) Barclay's was spared criminal due to its cooperation."

Nico Romanov
Jul 3, 2012 - 2:20pm

Romanov buy

I've been posting on the internet gold buy signals since Aug. 25, 1999, most of them at or close to the lows also won a contest for predicting the exact year end price for gold two years in a row. Someone here posted that no one can predict the lows, well I can.

Bongo Jim
Jul 3, 2012 - 2:22pm


Too bad you couldn't predict the revolution.

bam Nico Romanov
Jul 3, 2012 - 2:30pm


Ok Nico, I'll bite, where is your blog?

And if you don't have one, you should, if your history is as you say it is.

ClinkinKY Dagney Taggart
Jul 3, 2012 - 2:47pm

@ Dagney Taggart

Thanks. But safety is useless in a gutted economy.


I don't know about that. To paraphrase Patrick Henry: "Give me poverty or give me life". Just sayin'.

maravich44 Nico Romanov
Jul 3, 2012 - 2:59pm

@Nico Romanov... $1620.00 Gold,,

..maybe too obvious for me to see; why is this area so heavily defended?

Nico Romanov bam
Jul 3, 2012 - 3:15pm


No blog, no website, no newsletter, sorry. Some quadruple buys in the past have led to $300.+ upmoves. August 2007 was one @ around $660. By year end gold was over $830., $1020. by March 2008.

Jul 3, 2012 - 3:16pm

American Revolution

Thoughts for the 4th of July

In the American Revolution, the cliche slogan was "No taxation without representation," at least according to our gradeschool history books. The French, on the other hand, had a different slogan in their revolution a few decades later: "We'll strangle the last king with the guts of the last priest." I'm afraid any revolution in America's future will be closer to the French than our first one. We may hear things like "We'll strangle the last politician with the guts of the last banker."

Why am I hearing nothing about "Occupy Wall Street" this summer? Are there no protests? Or are they just silenced? Are the few poor protestors who attempted it dragged off and interred?

I have been totally disgusted with the complete media blackout of Ron Paul. My recent drive from Ohio to Arizona and back saw numerous homemade signs along the interstate. He is not dead. My Poly Sci colleague expects Paul to show up at the convention to cut a deal--no trouble out of him in return for some planks in the Republican platform.

Just thinking out loud

Jul 3, 2012 - 3:22pm

George H(ussein) W(Oh, Bama)...

...but the MSM is awfully silent about "reading these lips".

Happy 4th to everyone. Off to work the holiday to pay for this largest tax increase in American history.


Jul 3, 2012 - 7:08pm


only used penson for futures and forex ONLY.

Jul 3, 2012 - 11:24pm


If the BOE dictated the LIBOR rate to Barclays, what did the FED have to say about it? This revelation knows no bounds. This, plus the exposure of the links between the Vatican Bank and Israel, really provide the basis of secrets revealed that will lead to massive strife.


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