Santa Tried To Warn Us

349
Thu, Jul 12, 2012 - 10:12am

As we watch the metals get savagely beaten this morning, I'm reminded of the warning that Santa posted last Friday and again yesterday. The Cartel is trying again to take down paper price. Will they succeed? Maybe...

Here are the two main components of his post. Remember, this was first posted last Friday so when he says "next week", he's talking about now:

"Next week is the war between manipulation of gold by the West, and appetite for buying gold in the East, both from friendlies and enemies. Anyone that does not see today’s gold market as a rig is blind or brain dead. There is a full blown crisis in Western world banking today, right here and now. There is a full blown crisis in sovereign debt of some weaker nations as in a very short while certain government will be out of money. The Eurosnobs hate each other which does not make for a fast reconciliation of a crisis."

"Next week will be the time the cartel tries to break the gold price again. They have failed seven times, and will fail on the 8th. Gold is going to $3500 and above. All the lying and conniving only means the price will go higher. Just as Morgan’s whale could not fight the market, the cartel cannot fight gold as we have a flight away from all fiat currencies."

So, there you go. As you know I, too, have been concerned about a short-duration, Cartel-inspired plunge that would attempt to take out the plethora of sell stops below 1525 and 26. Can they pull this off? You know they want to. Can they? That is the question. Global physical demand remains extraordinarily strong ( https://www.zerohedge.com/news/china-imports-more-gold-hong-kong-five-months-all-uk-combined-gold-holdings) so driving down paper price will only increase the flow out of the LBMA member vaults. We'll justhave to see how this battle plays out.
For today's trip into the archives I offer you this: https://tfmetalsreport.blogspot.com/2010/12/preparing-accordingly.html. Written on 12/19/10, I still look back upon it as one of my favorites. Here's the summary paragraph:

"The end of US hegemony is near and with it, the end of the US dollar as "world reserve currency". This catastrophe and all in entails could have been avoided with responsible leadership and an educated/involved populace. However, selfishly, we in the US decided it was best to pursue a plan where we foolishly thought our recklessness was beneficial. This attitude was best summarized by republocrat and Keynesian legend, John Connally, who, as the coin was dropped in 1973, told the world that "the dollar is our currency but it is your problem". Sadly, we allowed Mr. Connally to be prescient for almost 40 years but the world is about to turn the tables. Soon...very soon...the coin will finally reach the narrow end of the funnel and the bottom will simply drop out. What happens next will not be fun and games."

​OK, that's all for now. I've got a full day of meetings ahead of me but I'll be watching this closely and I'll certainly update the blog if needed. Hang in there and be patient.

TF

About the Author

Founder
turd [at] tfmetalsreport [dot] com ()

  349 Comments

recaptureamerica
Jul 12, 2012 - 4:13pm

60 tons!

GOLD FOR OIL TURKEY SKIRTING IRAN SANCTIONS BY TRADING GOLD FOR CRUDE https://freebeacon.com/gold-for-oil/

I Run Bartertown
Jul 12, 2012 - 4:15pm
recaptureamerica
Jul 12, 2012 - 4:16pm

Gold to Hit $2,000 by

Gold to Hit $2,000 by Year-End on More Fed Easing: Merrill https://www.cnbc.com/id/48156196 Hmmm, I would trust it way more if it came from CEO of Turd Enterprises himself...

recaptureamerica
Jul 12, 2012 - 4:17pm
CaribSurfKing1 recaptureamerica
Jul 12, 2012 - 4:18pm

Bernanke just screamed

I want to know did they ship the Gold to Iran, or is it held in the Fed of NY under a different paper name, hahaha!

Dagney Taggart
Jul 12, 2012 - 4:19pm

@recapture

Isn't Turkey a NATO ally with US nuclear weapons stations? I'm confused why they would do this.

Are the thieves turning on each other?

Physical_only
Jul 12, 2012 - 4:19pm

I think it would be an interesting endeavor............

At one time I HAD well over 2000 ounces of silver. Monthly I have been trying to slowly replace it. Various accidents over the years have reduced my holdings to a few coins.

It would be interesting to know how many physical ounces Turdville as a whole has lost throughout the years?

The premise being I believe a minimum 100-1 leverage through paper has been achieved. Was I at one time tying up over 200,000 ounces of paper leverage?

WHEN the SHTF how much physical has our community at large tied up or lost through various accidents? I'm thinking it's quite a bit; when compared to an annual global supply it could be an eye opener.

recaptureamerica
Jul 12, 2012 - 4:21pm
recaptureamerica
Jul 12, 2012 - 4:23pm

Thars gold in dem dar hills...garbage hills!

Want Precious Metals? Forget Mines, Go to Landfills https://www.cnbc.com/id/48137908

Subscribe or login to read all comments.

Contribute

Donate Shop

Get Your Subscriber Benefits

Private iTunes feed for all TF Metals Report podcasts, and access to Vault member forum discussions!

Key Economic Events Week of 8/19

8/21 10:00 ET Existing home sales
8/21 2:00 ET July FOMC minutes
8/22 9:45 ET Markit Manu and Svc PMIs
8/22 Jackson Holedown begins
8/23 10:00 ET Chief Goon Powell speaks

Key Economic Events Week of 8/12

8/13 8:30 ET Consumer Price Index
8/14 8:30 ET Retail Sales
8/14 8:30 ET Productivity & Labor Costs
8/14 8:30 ET Philly Fed
8/14 9:15 ET Ind Prod and Cap Ute
8/14 10:00 ET Business Inventories
8/15 8:30 ET Housing Starts & Bldg Permits

Key Economic Events Week of 8/5

8/5 9:45 ET Markit services PMI
8/5 10:00 ET ISM services PMI
8/6 10:00 ET Job Openings
8/8 10:00 ET Wholesale Inventories
8/9 8:30 ET Producer Price Index

Key Economic Events Week of 7/29

7/30 8:30 ET Personal Inc/Spending & Core Inflation
7/30 10:00 ET Consumer Confidence
7/31 8:15 ET ADP employment
7/31 2:00 pm ET FOMC Fedlines
7/31 2:30 pm ET CGP presser
8/1 9:45 ET Markit Manu PMI
8/1 10:00 ET ISM Manu PMI
8/2 8:30 ET BLSBS
8/2 10:00 ET Factory Orders

Key Economic Events Week of 7/22

7/23 10:00 ET Existing home sales
7/23 10:00 ET Richmond Fed Manu Idx
7/24 9:45 ET flash Markit PMIs
7/25 8:00 ET Count Draghi/ECB policy meeting
7/25 8:30 ET Durable Goods
7/25 8:30 ET Wholesale Inventories
7/26 8:30 ET Q2 GDP first guess

Key Economic Events Week of 7/15

7/15 8:30 ET Empire State Fed Index
7/16 8:30 ET Retail Sales and Import Price Index
7/16 9:15 ET Cap Ute and Ind Prod
7/16 10:00 ET Business Inventories
7/17 8:30 ET Housing Starts and Building Permits
7/18 8:30 ET Philly Fed
7/19 10:00 ET Consumer Sentiment

Key Economic Events Week of 7/8

7/9 8:45 ET Fed Stress Conference, three Goon speeches
7/10 8:30 ET CGP Hump-Hawk prepared remarks
7/10 10:00 ET CGP Hump-Hawk House
7/10 10:00 ET Wholesale Inventories
7/10 2:00 ET June FOMC minutes
7/11 8:30 ET CPI
7/11 10:00 ET CGP Hump-Hawk Senate
7/11 12:30 ET Goon Williams
7/12 8:30 ET PPI

Key Economic Events Week of 7/1

7/1 9:45 ET Markit Manu PMI
7/1 10:00 ET ISM Manu PMI
7/1 10:00 ET Construction Spending
7/2 6:35 ET Goon Williams
7/3 8:15 ET ADP June employment
7/3 8:30 ET Trade Deficit
7/3 9:45 ET Markit Services PMI
7/3 10:00 ET ISM Services PMI
7/3 10:00 ET Factory Orders
7/4 US Market Holiday
7/5 8:30 ET BLSBS

Key Economic Events Week of 6/24

6/25 10:00 ET New Home Sales
6/25 1:00 pm ET Chief Goon Powell
6/25 5:30 pm ET Goon Bullard
6/26 8:30 ET Durable Goods
6/27 8:30 ET Q1 GDP final guess
6/28 8:30 ET Personal Income and Consumer Spending
6/28 8:30 ET Core Inflation
6/28 9:45 ET Chicago PMI

Key Economic Events Week of 6/17

6/18 8:30 ET Housing Starts and Building Permits
6/19 2:00 ET FOMC Fedlines
6/19 2:30 ET CGP presser
6/20 8:30 ET Philly Fed
6/21 9:45 ET Markit flash June PMIs

Recent Comments

by Blackwatersailor, 17 min 37 sec ago
by It'stheBankers, Aug 25, 2019 - 10:53pm
by lakedweller2, Aug 25, 2019 - 10:39pm

Forum Discussion

by Boggs, Aug 25, 2019 - 11:32pm
by Boggs, Aug 25, 2019 - 9:46pm
by SilverSpec, Aug 25, 2019 - 8:59pm
by SilverSpec, Aug 25, 2019 - 8:39pm
by SilverSpec, Aug 25, 2019 - 8:35pm
by Solsson, Aug 25, 2019 - 3:19am
randomness