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

Mickey
Jul 12, 2012 - 11:43am

another pop on silver

legit and illlegit longs and shorts, HFT, Cartel/the boyz, hedgies, miners trading in metals

there are so many games and strategies being played it is amazing

we are down to the either or situation I first heard from Richard Russell.

Inflate or die

and unless they cut the deficit they have to inflate-its just a matter of who does the buying of treasuries. Not sure how it will sit with public to force them to put treasuries in 401k's which is why they will not end the 401k. Too much there to buy treasuries.

The Doc
Jul 12, 2012 - 11:45am

Willie: Last Great Scandal Will be ALLOCATED GOLD ACCOUNT RAIDS

Jim Willie's latest:

Many are the signals of extreme dangerin the visible financial system. The widening LIBOR scandal dominates the news, but the USDollar is being pushed off its pedestal.

-The LIBOR lawsuits should make quite the spectacle, with hundreds of class action lawsuit cases
-The damages could reach into the $trillions, since many $trillions in volume are affected with skimmed percentages
-The last great scandal will be the ALLOCATED GOLD ACCOUNT raids
-My excellent source claims that far more than 20,000 metric tons of Gold bullion has been replaced by certificates

-The banks will face this music sooner or later, and the restitution will send the Gold price over $5000/oz

https://www.silverdoctors.com/jim-willie-last-great-scandal-will-be-allo...

The8thHabit
Jul 12, 2012 - 11:45am

Thanks Diamond!

Diamond, do you have your own blog / site? I would love to learn from you how to invest and get rich.

Monedas
Jul 12, 2012 - 11:47am

Unsolicited Grandfatherly Advice !

Son, never take yourself so seriously that you can enjoy good old fashioned "Turd and Piss" humour ! Monedas 1929 Comedy Jihad It's Humbling To Know That Some Of Our Best Work Is Done In The Turdroom !

The8thHabit
Jul 12, 2012 - 11:50am

FUBM

What a FUBM!

Cleburne61
Jul 12, 2012 - 11:53am

Thank you Eric!

Can't help but think that Silver's rise off its dismal lows was largely in part due to a certain Canadian announcing that 7.5 million ounces of the stuff will soon leave the marketplace. The timing of the end of the downturn is almost identical to the announcement.

And if you check gold, it is not having a likewise bounce, this is silver-specific.

Eric helped triple silver from 18 to 50 back last time, let's hope his timing is impeccable this time.

Blow em' to Hell, Eric!

Beastly Stack
Jul 12, 2012 - 11:56am

Nice

Let's get some more follow through here!

DayStar proton777
Jul 12, 2012 - 11:57am

Sprott's Purchase

proton777, yes, the cartel has sold multiples of Sprott's 7.4 million oz in a few keystrokes, but the difference is that Sprott's purchase is physical metal which is at least 100:1 over paper, so that ratio puts Sprott at 740,000,000 oz of paper, which, I believe you could say, is "a lot". Furthermore, there are already small signs that silver is getting tight. Premiums are rising, Apmex reported shortages of 90%, LCS dealers say they have had a run on 90%, PFG is rumored to have been taken out in part to take a lot of pressure off Comex to deliver silver phyizz, and now Sprott has put in this humongous buy order for silver. The first time he did this silver went to nearly $50/oz. This time with phyizz supply already tight and demand already strong, there is no telling what this purchase might do to the psychology of the buyers.

DayStar

G00dfella
Jul 12, 2012 - 11:58am

what a day

I like these roller coaster rides

G00dfella
Jul 12, 2012 - 12:00pm

GSR dropped

57.50 right now

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 9/16

9/17 9:15 ET Cap Ute & Ind Prod
9/18 8:30 ET Housing Starts & Bldg Perm.
9/18 2:00 ET Fedlines
9/18 2:30 ET CGP presser
9/19 8:30 ET Philly Fed
9/19 10:00 ET Existing Home Sales

Key Economic Events Week of 9/9

9/10 10:00 ET Job openings
9/11 8:30 ET PPI
9/11 10:00 ET Wholesale Inv.
9/12 8:30 ET CPI
9/13 8:30 ET Retail Sales
9/13 10:00 ET Consumer Sentiment
9/13 10:00 ET Business Inv.

Key Economic Events Week of 9/3

9/3 9:45 ET Markit Manu PMI
9/3 10:00 ET ISM Manu PMI
9/3 10:00 ET Construction Spending
9/4 8:30 ET Foreign Trade Deficit
9/5 9:45 ET Markit Svc PMI
9/5 10:00 ET ISM Svc PMI
9/5 10:00 ET Factory Orders
9/6 8:30 ET BLSBS

Key Economic Events Week of 8/26

8/26 8:30 ET Durable Goods
8/27 9:00 ET Case-Shiller Home Price Idx
8/27 10:00 ET Consumer Confidence
8/29 8:30 ET Q2 GDP 2nd guess
8/29 8:30 ET Advance Trade in Goods
8/30 8:30 ET Pers. Inc. and Cons. Spend.
8/30 8:30 ET Core Inflation
8/30 9:45 ET Chicago PMI

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

Recent Comments

Forum Discussion

by james r, 1 hour 22 min ago
by Scarecrow, 3 hours 56 min ago
by Scarecrow, 5 hours 55 min ago
by Scarecrow, 6 hours 4 min ago
randomness