Santa Tried To Warn Us

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 ( 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: 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.


About the Author

turd [at] tfmetalsreport [dot] com ()


Jul 13, 2012 - 11:57am

Financial Times on QE3

Gavin Davies is a smart guy, though I'm betting he's wrong on QE3 end of this month

In the June press conference, Mr Bernanke said explicitly that further Fed action would be forthcoming if the improvement in unemployment were to stall. The June minutes show that “some” members of the FOMC would support further action if the economy were to lose momentum or if inflation seemed likely to fall persistently below target. Either of these conditions was sufficient for additional easing, but both have now been met.

Mr Bernanke should therefore be ready for more action. It does not follow that the chosen path will necessarily involve an increase in the balance sheet, but it is likely to do so if the Fed follows the thinking of several of the doves and buys mortgage securities. Another round of forward guidance about rates is also very likely.

With the presidential election certain to be in full swing by September, the chairman may well agree with Macbeth:

“if it were done, when ’tis done, then ’twere well it were done quickly”.

The next FOMC meeting starts on 31 July.

Jul 13, 2012 - 11:56am

Guido Giacomo Preparata

Guido Giacomo Preparata .... has obtained a B.S. in Economics at the Libera Università degli Studi Sociali (LUISS, Rome, Italy), an M-Phil in criminology at the University of Cambridge (UK), a Master’s degree in Economics, and a PhD in Political Economy & Public Policy, both from the University of Southern California (USC, Los Angeles, USA).

From 2000 to 2008 Preparata was an Associate Professor of Political Economy at the University of Washington, USA. Moreover, he worked as a research associate at the Electric Power Research Institute (EPRI, Palo Alto, USA), and subsequently joined the research division of the Department of Supervision and Regulation at the Bank of Italy. In 2005, as a visiting professor of economics and Fulbright Scholar at the University of Jordan, in Amman, he has conducted research on Political Islam, terrorism and Islamic economics. At present he serves as a lecturer in criminology at Kwantlen Polythechnic University in Vancouver, Canada.

GrigeoDagney Taggart
Jul 13, 2012 - 11:52am

"I call Bull on your whole cabal. Get a life."

Eric O calls "bull....." on Guido Giacomo Preparata, author of “Conjuring Hitler: How Britain and America made the Third Reich”

L.S.: At the beginning of your book you are stating that “there is something far worse than Nazism, and that is the hubris of the Anglo-American fraternities, whose routine is to incite indigenous monsters to war.” (1) How did you come to this conclusion that has very little in common with the perception of the general population, particularly in Great Britain and the United States?

G.P.: It’s the old dilemma. What is worse: being a criminal or putting deliberately an arsenal into the hands of a known criminal? I think the latter is worse, hence that statement.

L.S.: If one does accuse you of being a “conspiracy theorist” or a “revisionist,” what do you reply to those critics?

G.P.: It is notorious and beyond dispute that the Anglo-American elite —along with the Soviets— financed and supplied the Nazis before and even during the war. This fact is obviously so disturbing and confusing for all those who have been raised with the complex of Anglo-American moral superiority that the Establishment has been at greatest pains to rationalize it. The only rationale it has been capable of advancing —whenever it cannot avoid the issue altogether, which is what it logically prefers to do— is to assert that a few rotten corporate apples did business with the Devil (i.e. the Germans) behind everybody’s (i.e., the State’s) back. This “explanation” is clearly untenable, yet anyone that dares to challenge it is ultimately bound to face what expresses itself as the wrath of devout believers. Their instinctive repartee is that anyone doubting the vulgate is self-evidently an unreasoning ‘fascist-revisionist-conspiracist’.

The tactic is so inane that it would be risible if the propagandistic stakes of this discursive set-up were not as decisive as they really are. It is their standard inquisitorial trump. Indeed, it is not directly aimed at the critic but at whatever audience might be listening to the debate: it is meant to scare away readers and potential supporters from the critic’s warnings by tarnishing him with the most unsavory label the system has devised for the purpose, that of the truculently stupid crypto-fascist. In the general arena of public opinion, any skeptical attack —carried out outside any conventional party line or schema— on the abuses of the power structure is likewise resisted by its discursive custodians (at all levels and of all political shades), who have been conditioned to brand reflexively the dissenter as an insufferable ‘conspiracy theorist’.

Dagney Taggart
Jul 13, 2012 - 11:51am


How many cartooners here understand that getting the Sound Money/Economy utopia meritocracy most here want requires the destruction of the criminals behind the curtain we are calling out? JPM and Obama are NOBODYs. But it's all they get spoonfed from the idiot box so should I really blame them? Probably not.

PS. The cowards and hypocrites are in their little backroom high-fiving and talking about bacon. How noble.

Dagney Taggart
Jul 13, 2012 - 11:35am

More Honey Badger

Video unavailable
Nick Elway
Jul 13, 2012 - 11:34am

Re: Peak Gold

I think Goldcore has been reading SRSrocco!

(thanks for the zerohedge link)

Dagney Taggart
Jul 13, 2012 - 11:30am


Seen it and heard it before. The normalcy bias is so predictable. YAWN.

Keep wishing everything you see and hear on the idiot box is real.

Video unavailable
rl999Eric Original
Jul 13, 2012 - 11:24am

@ Eric Original

Pray tell, am I one of this "cabal"? By your comments it seems so.

We all need to do our homework, because it is quite possible that we are all screwed (or as Liebor gate, and a myriad of other scandals has illustrated, we are all getting screwed regularly). Isn't the end of the great Keynesian experiment going to screw all of us in some way. Isn't that why your here.

One of the benefits of a blog is that we all gain access to people that know different things. TF knows a lot about the pm and TA, I do not.

I have read parts of the NNPT, while it is certainly the case that others here have not. I think it is safe to say that everyone that contributes to this blog has an area of knowledge that is unique. How we choose to interact with others based on this knowledge is a matter of individual choice.

I would note as well that the vast majority of your hat tips come from posting cartoons, so do not disparage those of us who choose to comment on the preeminent social/political matters of the day. When you have original thoughts about them, verifiable with fact, please share. Specifically the duties of the signatories to the NNPT.

With improper moderation discovery is impossible. There are many current examples of this in the headlines.

Dagney Taggart
Jul 13, 2012 - 11:19am

@Dr Jerome

The last 9 presidents have k*lled (don't want to piss off the Orwellian jihadists) the US with overspending. It's just been more obvious the last 10 or so years since we're talking about numbers that people don't understand how big they really are.

Jul 13, 2012 - 11:16am


Someone calls bullshit on the cabal and gets 21 hat tips and counting.

Of course, not a single discussion why he thinks it is all bullshit. Not needed, nothing is rigged except pm's anyway, right?

Much cooler to discuss bacon, old cars and guns.

Oh i forgot cartoons and music vids, because feeling good is all we need.

From bad to worse, very fast.

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