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A Significant Day For Silver

Just a few things before I take some time away.

Tomorrow is Independence Day here in America. The markets will all be closed. I will be traveling and out of action until mid-day on Thursday. With that, here are a few things to ponder.

Today's move in silver is potentially quite significant. On the surface, it's just a 3% short squeeze. However, take a look at these long-term charts. Silver has been following the downtrend line from the Leap Day highs for over 4 months. Today, it broke out. Do you recall a few days ago when I mentioned that you should beware of "descending triangles"? They are a bit of an optical illusion as the diagonal line always seems to look more powerful than the horizontal line. In this case, though, the horizontal line connects multiple bottoms and goes back over 9 months, or about twice the duration of the diagonal line. The idea that price would break UP and not down should NOT be surprising. Now, before we get excited, it's only one day. Silver needs to confirm the breakout by not only holding its gains but advancing further. A move through $29 would be great and set up a move back toward $29.50. Then, IF we can get a lousy NFP number on Friday, the stage will be set for a run at $30 and the buy stops set above there.

Of course, silver is getting a shove, too, from some powerful action in the grains and in crude. Keep an eye on crude, by the way. Tensions are heating up again in The Gulf and a move through 88 and then 90 would likely signal a run back toward 100.

The gold chart looks solid, too. I expected some Cartel capping above 1620 and we got it today. That's OK. It is what it is. Let's see what we can do tomorrow without Comex interference. Thursday will be a setup day for Friday and Friday, IF THE BLSBS IS LOUSY, could be a tremendously significant day.

A couple more things. First, if you haven't yet done so, take some time over the holiday to listen to this BBC radio piece regarding a return to "the gold standard". A very interesting discussion.

I did an interview yesterday with The Doc at SilverDoctors. He hasn't posted it yet but I suppose he will over the next few hours. You'll be able to find it here: though I imagine someone will also post a link into the comments section of this thread.

Lastly, our good pal "Fortinbras" informed us today of the death of one of his good friends earlier this week in Afghanistan. As you celebrate and relax over the next 2 days, you might send out a prayer for "Dids" and his family. Below is a picture of him, relaxing with a cold one, taken about two years ago. We here at TFMR are always grateful to those willing to make the ultimate sacrifice and, clearly, this one hits pretty close to home.

I hope everyone has a safe and relaxing, mid-week vacation. See you Thursday.



Double Bogey's picture

Why Buy?

Why Buy? There are many many reasons. I like to stack, but I also keep a little box that I’ll throw something in if it catches my eye. Not the most cost effective way to “invest”, but it’s fun to pull out once in awhile and admire how cool silver really is.


5 grain, 1 gram, 1/10th, up to 2, 5 and 10oz bars, the usual favorites and a few generics.

Istack's picture

Going green?

ChiTownHustler's picture

Fourth Right Dreaming

Fourth Right Dreaming By: Lowell Ponte
 Wednesday, July 04, 2001

"GOD FORBID WE SHOULD EVER BE 20 YEARS without such a rebellion," wrote Thomas Jefferson, author of America’s Declaration of Independence, to a friend in 1787 regarding Shay’s Rebellion. "….what country can preserve its liberties if their rulers are not warned from time to time that their people preserve the spirit of resistance? Let them take arms."

Reading Jefferson’s words on a hot, sticky night on the week of the Fourth of July, I felt sleep overtaking me. In what might have been a dream, I found myself watching the Founding Fathers as they prepared and began a revolution against the British rulers. But something had changed. History had frame-shifted by three centuries, and now their revolution was happening not in the year 1776 but in 2076 in a brave, new world full of modern technologies and laws that have emerged.

I watched a small group of the Founders, wearing Tee shirts and track shoes, gathered in an air-conditioned Philadelphia basement. I recognized Washington, despite his healthy teeth, and Jefferson and the others without their powdered wigs. But where was John Adams, whose urging had made Jefferson the Declaration’s drafter, celebrated today in David McCullough’s best-selling biography?

"The British detected Adams’ rebellious traits in kindergarten, using psychological tests for anti-social tendencies," a ghostly spirit at my side explained. "He was given tranquilizers and sensitivity training at age five that cured his politically-incorrect anti-monarchist tendencies, and the same happened with his firebrand cousin Sam Adams. They both now love and support King George III."

"And John’s wife Abigail was arrested at Boston’s Logan Airport. She tried to avoid surveillance by dressing like a man – but since the 1990s, security scanners have allowed government agents to look completely through unsuspecting men’s, women’s, and children’s clothing down to their genitalia, and Abigail did not have male genitalia. She also bought a ticket with cash, something that brings instant government surveillance. She, too, now loves the King."

And where, I asked, is John Hancock, who boasted of penning his name so large on the Declaration of Independence that the king could easily read it? "Surveillance cameras using artificial intelligence programming identified him despite his Indian disguise at the Boston Tea Party – the same kind of surveillance cameras used in parts of London as early as 2001," the spirit said. "Hancock and his Sons of Liberty were convicted of violating the environmental laws by polluting Boston Harbor with tea. Their properties and fortunes were confiscated under asset forfeiture laws, and they too all received appropriate sensitivity training and brain-adjusting medication."

Was Paul Revere among those arrested? "Of course," replied my mysterious companion. "And the British were able to use agents provocateurs and a phony telephone call to trick the farmers of Lexington and Concord into bringing their guns out of hiding to confront the Redcoats sent to seize their gunpowder. But, of course, the colonists had the new legally-required ‘safer’ guns that could be ‘fired only by their owners’ – you know, the type with computer circuitry inside. So when the colonists aimed them at British commandos, the Redcoats merely switched on a jamming device that turned off all the American guns from a distance and made them useless. The farmers were chained and sent to psychiatric hospitals for pain-compliance training and neural re-channeling, but most remain in prison for violating the Universal Peoples Firearms and All Other Weapons Confiscation Act of 2013 signed by President Hillary Clinton."

Where, I asked, is Alexander Hamilton? "The King’s ‘Echelon’ system monitoring of all telephone calls that uses computer pattern-recognition to detect key words identified Hamilton as a dangerous terrorist against the Crown," answered the strangely-ethereal voice. "He tried to flee, but the Global Positioning Satellite transponders in his car with names like LoJack and OnStar, and implanted in infancy under his skin, made Hamilton easy for the government to track."

"And you know the computer circuits built into cars since 1987," my guide continued, "supposedly to improve gas mileage? When Hamilton drove across a control web beneath the roadway – the kind the U.S. has at border crossings like that between San Diego and Tijuana since the 1990s – the Royal police simply activated an electromagnetic pulse from the web that turned off his car’s motor. When Hamilton tried to run, he was stopped with a cloud of soma vapor and a tranquilizer dart. He now serves the King too."

Did the same, I nervously asked, happen to George Mason of Virginia? "He and many others in the subversive ‘Committees of Correspondence’ were identified and monitored by the King’s ‘Carnivore’ system that uses computers to scan all emails," said the spirit.

"And they were easy to track using ‘Fincen,’ the government’s secret system that since the 1990s has recorded all citizen financial transactions and credit purchases, whenever they used any credit card. Those who tried to evade such monitoring by using cash were reported to the drug authorities, as all laws now require. And the cash itself now has those secret electronic tracking strips that let the King know whatever hands it passes through by requiring merchants and banks to scan all bills bigger than $5 into a Fincen-linked device. The royal government is also thus able to block any credit card or declare any currency counterfeit as a way of leaving rebels unable to buy anything such as food or fuel or airline tickets.

Where, I trembled to ask, is Benjamin Franklin. "He published politically incorrect things in his Poor Richard’s Almanack, advising men to take an old or unattractive mistress if they wished to be happy and such," said the ghostly shade. "He was accordingly sued for hate speech under the Sensitivity Laws. A jury of older citizens found him Not Guilty, accepting his argument that the laws protected free speech rights. But when he resumed publication, the government filed billions of dollars in nuisance lawsuits that bankrupted him."

"When Franklin continued to make insensitive remarks in public," the ghostly guide continued, "a mob urged on by Al Sharpton chased him into a building and set it on fire. Ben Franklin died in the blaze, and the government refuses to arrest any who were in the mob. You’ll remember that beginning in the 1990s the government simply killed those it found too distasteful. Tom Paine met the same fate. Like the mythical James Bond, 007, government agents such as Lon Horiuchi have been licensed to kill any approved target without fear of being tried or convicted. Pamphleteer Tom Paine was imprisoned, put into solitary confinement, and died of a mysterious heart attack – exactly like the witness against Bill Clinton named James McDougal."

So the only ones left to fight for America’s freedom, I asked, are the handful in this room? "They will soon be arrested too," said the shade. "Their cell phone calls are routinely recorded by the government, the same imperial government that prohibited the manufacture of encrypted cell phones – and that in 2000 required that future cell phones include a chip so that the secret police can zero in on its exact location using satellite surveillance and other means. Some will be killed by using targeted government radio commands to detonate the transponders implanted in their bodies. Even this room right now has secret royal bugging devices in it. The only question is whether the rebels will be punished under the royal laws or world government laws – not that these two are really different."

So does this mean, I asked, that the American Revolution will be killed in its cradle, that we will never be free? "From the moment Bill Clinton became Governor of all the colonies," my guide replied, "international meetings at the highest levels with his cooperation began making and implementing 33-year plans to systematically remove all weapons, all privacy, and all power, mobility, property, wealth, and rights from individual citizens."

"Leftists support this transfer of power because they love big government and believe they will be the ones controlling it," the shade continued. "And many conservatives have also been tricked into supporting the loss of individual freedom in the name of the War on Drugs or other moral crusades. Let’s face facts, Lowell – as you once explained in a column, some European-style conservatives don’t like individual freedom or free market capitalism any more than socialists do."

So is freedom doomed? "On Planet Earth it is," said the shade grimly, "because too many people have become addicted to government handouts, the same kind they tell tourists not to feed to the bears in Yellowstone lest the creatures become unable to feed themselves. We no longer have many like America’s Founders, many of whom were the richest people in the colonies and could have led lives of ease, willing literally to risk their lives, fortunes, and sacred honors for freedom."

"But the smartest and most noble ones among us, the ones able to run the technology, are Libertarians and individualists," said the apparition. "Many of them are working for freedom so secretly that even the King’s spies are unaware."

"And on the Fourth of July 2176," the ghostly figure continued, "Libertarians and fellow freedom activists on Earth will activate a few concealed programs in Big Brother’s computers to neutralize his space warships. And their brothers and sisters on the red planet at the same moment will declare the Independence of the 13 Mars colonies. They will succeed and give humankind a rebirth of freedom on another New World."

Who are you, I asked my guide, and how do you know all this? "I am the Spirit of ’76," he said, fixing me with his steady, clear-eyed gaze. "And despite how often the tyrants and dictators, the kings and Stalins and Hitlers and Hillary Clintons have tried to kill me, I live forever in the hearts of every authentic human being. Freedom is sometimes eclipsed, and sometimes its children get lulled to sleep, but woe to the tyrants when it reawakens…."

I felt my body floating upwards, as if under water, then burst into a world where I could breathe again. I opened my eyes, surprised by the dawn’s early light shining into them. It was morning again in America, the morning of the Fourth of July.

This Independence Day night, the bombs are again bursting in air, and how symbolic it is that power-hungry politicians want no private citizens – but only the government – to control even the tiniest fireworks that represent America’s revolutionaries fighting against the king who had oppressed them. These politicians, of course, pretend they are taking our freedom to protect our safety – the path, as Franklin said, that leads to neither freedom nor safety – and that they are enslaving us "for the children."

On this sacred night, on the Fourth of July with lights in our eyes and a smell of gunpowder in our nostrils, we will again all be asking – some with more attention than others – the question with which our politically-incorrect National Anthem ends. "Oh, say, does that Star-Spangled Banner yet wave, o’er the Land of the Free and the Home of the Brave?"

Does it? It's a question each generation must ask and answer anew, every 20 years or so. As Jefferson understood, each new generation is its own nation.

Government is a power-mad weed, and unless its tendency to grow is pruned back with each generation it will soon take over the entire public square and reduce human beings again to slaves and serfs – as it has nearly done at the dawn of the 21st Century, the third millennium.

The revolution each generation must fight need not be violent, Jefferson knew. His own election as America’s third President he called "the Revolution of 1800," as indeed it was. By then the nation was already running up a huge national debt, raising taxes, trading arms for hostages with the Barbary pirates, and jailing journalists and even congressmen under the Alien & Sedition Acts for the crime of criticizing the government of John Adams.

Jefferson reversed all those evils, and thanks to him we retain today at least a few vestiges and memories of liberty.

But many politicians are eager to remove every freedom you now enjoy and turn you into a slave on Big Government’s plantation. Every enlargement of government is paid for with more loss of your liberty, and every politician who seeks the expansion of government is your and your children’s mortal enemy.

"A little rebellion, now and then, is a good thing, and as necessary in the political world as storms in the physical," Thomas Jefferson wrote in a personal letter to his protégé James Madison in 1787. "It is a medicine necessary for the sound health of government."

You were born with an inheritance of freedom purchased with the blood of those who risked and died to win it. Jefferson’s point is that such liberty must be cherished, honored, and asserted anew by each generation – or it will be taken from you, bit by bit, by those who love government more than you love liberty.

What are you prepared to do to shrink a federal government that has grown many times more taxing and oppressive than the government of King George III? As in my dream, the chains of your slavery are being forged right now in hundreds of surveillance and police state laws and activities. If this does not concern you, then sleep well. But get ready for the American Dream to become a nightmare.

Thomas Jefferson had a motto by which he lived his life: "Rebellion to Tyrants is Obedience to God." Think, pray, and act upon what freedom means during this special week, and have a happy Fourth of July.

Dr G's picture

Beautiful squeeze in silver

Beautiful squeeze in silver today. Love the price action and the look of the daily chart, especially in Asian markets.

Hope everybody has a wonderful holiday tomorrow in the US. Spend time doing what you love and create wonderful memories.

I'm in the middle of my vacation and enjoying it immensely. I even found some time yesterday to sneak away and order a couple of tubes of Maples.

Long silver, long gold, long family and loved ones.

SRSrocco's picture


FORTINBRAS.... I don't know you at all except from seeing your posts on this blog.... but I can truly empathize with the passing for your close friend Dids.  I appreciate you sharing his picture with us here at Turd Land.

You know, I have been all over the country and often I will look at someone passing me by in a car, walking on the street or sitting next to me at a restaurant and wondering about their life and family.  I mean we go through our daily life passing by tens or hundreds of people in a day and it is simply amazing that each one has their own story, problems and families.  We simply don't realize that that stranger who just passed us has a whole world onto itself in which we haven't a clue.... and sometimes this world may be full of sorrow and grief.

Hearing about Dids just makes me realize just how precious life is as we take it for grant it.

HAPPY 4th of JULY for all of those who put their life on the line.....

leeson_was_framed's picture

The Pendulum Swings Again

We are in a monthly suppression cycle. With the tape being painted and the numbers massaged so that the algorithms behave as they should. This rise was to be expected on the basis that the end of month washout has done its job.

The metals should enjoy some freedom for another week, and then the whipsaw leading to to another month end takedown. Of course this pattern will break at some point, and I think we can all see which way it will go. (Paper V Metal, no contest)

But the question is when. I am not foolish enough to try to trade this pattern, except that I am dutifully buying  the dips, and taking a pocket money out at the top of the cycle.

Geo-politically I don't think we are at the end of the game yet. My gut tells me that the Olympics will be protected as an international spectacle. So there won't be any real trouble before it is over.

This gets us into September, when the holiday money traditionally comes back into the market. This summer has already given a mainstream insight into what is going on. The bank runs in Europe, and the famous UK computer glitch in the banking system have woken a lot more people up.

If this is correct, the cycle will run through July and August, highs in the first two weeks, then whipsaw and lows at the end.

The only caveat, is whether the range will move up to a higher level (27-30) in the mean time. The next few days will be revealing, so I will hold my metal and watch closely.

Puck T. Smith's picture

(No subject)

rl999's picture

The new guess chart

There will be a new chart of guesses posted this evening.

It will include all guesses made, including duplicates.

cpnscarlet's picture

@NW VIEW - Let me give you a

@NW VIEW - Let me give you a little different, but similar perspective to ColoradoGold's look at "Fear in the Big Cities". My growing years in NYC during the early 70s were lucky - I wasn't mugged and left for dead by a black gang - I was just mugged - twice. But there was an attempt to come together by cooler heads on both sides and the late 70s and early 80s actually saw, IMHO, some distinct "can we all get along" progress as many worked for a more integrated better city where we all WORKED for a better life. The years in New York City under Ed Koch were a real renaissance for all. But this was quickly short-circuited but the welfare pimps like Sharpton, Jackson, and Dinkins. It was short-lived. The last time I was back in NYC, I had that same "fear making the hairs on the back of my neck stand up" feeling I had as a kid back in '72.

We have come full circle and it ain't good. I could go on, but maybe later.

Puck T. Smith's picture

(No subject)

Istack's picture

ECB Meeting On Thursday

ECB Meeting On Thursday Could Ignite Gold, Silver

feels more and more like we are aproaching a big shift.  Turd might be right about that "very, very" soon thing.  I'm going to enjoy this summer with my family either way.  Let the fireworks begin.

the silver-colored fireworks are especially beautiful

Urban Roman's picture


Istack, LOL!

And Fortinbras, condolences.

ClinkinKY's picture


Do not disturb: Oregon town cancels fireworks to spare sea birds


An Oregon town has reportedly canceled its annual fireworks show out of concern the Fourth of July pyrotechnics will scare sea birds roosting nearby.

Town officials in Depoe Bay have announced the cancellation of the annual pre-Independence Day fireworks show on July 3 following pressure from federal wildlife managers who said the noise disrupts sea birds in the area, the Oregonian reports.

The move has irked local business owners who count on the popular show to bring foot traffic.

"It's a great loss to our community," Peggy Leoni, co-owner of Trollers Lodge, a small motel in Depoe Bay, told the newspaper.

Rebecca Chuck, deputy project leader with the Oregon Coast National Wildlife Refuge Complex, said the move was necessary to protect species such as the Brandt's cormorant that nest at Pirates Cove.

The cove is less than a mile south of Boiler Bay, where the fireworks show is held, and seabird colonies on the north coast face intensifying pressure from bald eagles and other predators. The event at Boiler Bay has been a tradition since 1993.

Read more:

GuerrillaCapitalist's picture

Fortinbras and Dids

The old colonel drops his head in pain felt for a fellow warrior who left the planet via the huge door on the battlefield.

Dids is a good man, an outstanding warrior and loved deeply by many. I'm sorry he died.

As always when we acknowledge a fallen brother, my son and I will knock back a shot of extraordinary hand made bourbon and toast the life that was cut short.

May Peace descend on this earth like a welcome thunderstorm. No more early, grindingly tragic deaths in support of the criminal cabal that owns the governments.


SRSrocco's picture



$2,200 GOLD

by the end of 2012....

Dagney Taggart's picture


Just wait until Rebecca Chuck finds out there are no more "productive" people to be taxed in order to fund her zero-growth utopia wetdream she calls work. Thanks for posting. I needed to throw up.

agrock's picture

contest price end

when was the price close for the contest ... friday crimex close?

Punk-Assets's picture

God bless that man and his

God bless that man and his family. My son is fresh back from Iraq and his last day in the ARMY is the 15th of this month. 

ChiTownHustler's picture

For those looking for a good audio book

For those looking for a good audio book while sitting on the beach this week let me recommend Behold A Pale Horse by William Cooper. You can download it here:

, also check out their audio archives

I would start with No. 1896 also check out some of the old metal reports. In the mid 90s they had to deal with central bank physical selling.

Istack's picture

When silver prices go down you get angry

MisesFan's picture

I second the Behold a Pale Horse recommendation....

RIP Bill

babaganoush2307's picture

Best quote ever...

Donald Trump

Let me get this straight . . .

We're going to be "gifted" with a health care plan we are forced to purchase and fined if we don't! Which purportedly covers at least ten million more people without adding a single new doctor, but provides for 16,000 new IRS agents, written by a committee whose chairman says he doesn't understand it, passed by a Congress that didn't read it but exempted themselves from it, and signed by a Dumbo President who smokes, with funding administered by a treasury chief who didn't pay his taxes, for which we'll be taxed for four years before any benefits take effect, by a government which has already bankrupted Social Security and Medicare, all to be overseen by a surgeon general who is obese , and financed by a country that's broke!!!!!

'What the hell could possibly go wrong?'

The Green Manalishi's picture

Can't understand the futility of it all

Much respect to anyone who puts themselves in the line of fire.

Thoughts with your friend Dids

Final episode of Blackadder Goes Forth. Bit of a classic here in Blighty.

bam's picture


Thank you!  Good job on dragging your insult over from the old thread to the newer one.   I remember the mods admonishing others about this (you know, because it makes for a crap board), but perhaps you are a slow learner?  

I ignored the first one, but if you are going to repeatedly go for it, in separate threads no less, at some point I'm forced to respond.

tread_w_care's picture

@Chi Town got a link for that piece by Lowell Ponte?

That's quite a piece, would like to properly cite it, got a link? 

ChiTownHustler's picture

link for Fourth Right Dreaming

Beware link to neo-con website, but it was a good piece so I posted it.

Dagney Taggart's picture


Goes along with.....

Ineptocracy (in-ep-toc'-ra-cy) - a system of government where the least capable to lead are elected by the least capable of producing, and where the members of society least likely to sustain themselves or succeed, are rewarded with goods and services paid for by the confiscated wealth of a diminishing number of producers.

When you see that trading is done, not by consent, but by compulsion- When you see that in order to produce, you need to obtain permission from men who produce nothing- when you see that money is flowing to those who deal, not in goods, but in favors- when you see that men get richer by graft and by pull than by work, and your laws don’t protect you against them, but protect them against you- when you see corruption being rewarded and honesty becoming a self-sacrifice- you may know that your society is doomed.

-Francisco d'Anconia

Dagney Taggart's picture


You were born 100 years too early.

Dr G's picture

I would like to know, if this

I would like to know, if this man had freely joined this trip into a country on the other side of the world that did no harm, not even slightly threat his country. I'd also like to know if he was payed for this with a higher salary like a mercenary, or if he was forced and had no chance to choose.

​Just the biggest internet "roll-eyes" I can muster for this comment. Way to take a simple incident and pervert it into something else. I'm almost speechless, but then I remembered that I'm on vacation and so eff it. blush

Dr G's picture

(No subject)

For those wanting some interesting and light reading: a brief article on the development and evolution of money written by New Yorker staff writer James Surowiecki.

An excerpt:

"It's really in the seventh century B.C.E., when the small kingdom of Lydia introduced the world's first standardized metal coins, that you start to see money being used in a recognizable way. Located in what is now Turkey, Lydia sat on the cusp between the Mediterranean and the Near East, and commerce with foreign travelers was common. And that, it turns out, is just the kind of situation in which money is quite useful.

To understand why, imagine doing a trade in the absence of money-that is, through barter. (Let's leave aside the fact that no society has ever relied solely or even largely on barter; it's still an instructive concept.) The chief problem with barter is what economist William Stanley Jevons called the "double coincidence of wants." Say you have a bunch of bananas and would like a pair of shoes; it's not enough to find someone who has some shoes or someone who wants some bananas. To make the trade, you need to find someone who has shoes he's willing to trade and wants bananas. That's a tough task.

With a common currency, though, the task becomes easy: You just sell your bananas to someone in exchange for money, with which you then buy shoes from someone else. And if, as in Lydia, you have foreigners from whom you'd like to buy or to whom you'd like to sell, having a common medium of exchange is obviously valuable. That is, money is especially useful when dealing with people you don't know and may never see again."

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