Wrapping Up

364
Sat, Jul 21, 2012 - 12:23pm

The Turd is wrapping up his relaxation extravaganza this weekend and he'll be back at his post bright and early on Monday. Until then, here's some stuff for the weekend.

First of all, some charts. Let's start with the metals. Both have flat-lined, which is interesting because a flat-line usually precedes some type of dramatic move, either up or down. We see this sometimes on the short-term charts. We rarely see this play out over days on the hourly charts but here we are. My personal feeling is that we are very close to a significant break OUT and UP. We'll go into more detail on this on Monday.

And you should probably listen to this:

EXCLUSIVE- Bill Murphy's London Source: "Big Gold & Silver Moves Coming in August"

And the grains are, quite literally, ON FIRE. Though they are susceptible to a sharp pullback here, the forecast isn't getting any better. And it's still July. Yikes. Here's the latest forecast for Kansas City, Missouri. Right in the middle of corn and soybean country.

And here are your weekly charts showing new all-time highs in both corn and beans. The DAG, which we first discussed here a few weeks ago near $9, is closing in on $15, too.

The latest CoT was kind of a bummer. For the reporting week, gold rose $9 and silver rose 44c. In the face of that, The Gold Cartel added over 6000 new net shorts and The Evil Empire added just over 1000 new net short in silver. Not a disaster but not real encouraging, either. The only positive in the report is in the LargeSpecShortSheep category for silver where the LSSS added another 1,123 gross shorts. This brings their total up to over 20,000 at 20,775 and lowers the LargeSpec net long ratio to just 1.37:1. Again, for perspective, on 4/5/11, the LargeSpec net long ratio was 4.04:1 based upon 48,890 longs and just 12,105 shorts.

Three items of reading material for you. First, this interesting piece from John Aziz. It's worth considering. https://azizonomics.com/2012/07/21/why-is-the-fed-not-printing-like-crazy/

Next, Detlev Schlichter has written another excellent article: https://papermoneycollapse.com/2012/07/happy-interventionists-the-economists-attack-on-your-property/

And, finally, some interesting perspective from KWN's "London Trader". Note that there are no price targets or forecasts. Just a simple and concise analysis of demand fundamentals. https://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/7/20_London_Trader_-_The_LBMA_Gold_Price_Fixing_Scheme_Is_Over.html

OK, that's all for now. I hope everyone has a safe and relaxing weekend and I look forward to getting back to "business as usual" on Monday.

TF

p.s. When I return, I expect the "Main St" thread comments to return to "normal", too. Main Street is where we discuss the metals, the economy and issues dealing with the end of The Great Keynesian Experiment. It is not the place for subjects like Zionist conspiracies and Chemtrails. All are certainly welcome to discuss those items here but it needs to be done in the forums. https://www.tfmetalsreport.com/forums/conspiracy-theories. Thank you in advance for your cooperation.

About the Author

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  364 Comments

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lordbyroniv
Jul 23, 2012 - 9:18pm

@47 - I LIKE GUNS

I Like Guns - Steve Lee
Nana
Jul 23, 2012 - 3:48pm

@ Dagney

Sorry, didn't see your question.

Yes after gold was outlawed it was revalued up, imagine that.

ivarsFired
Jul 23, 2012 - 12:37pm

@XAG, of course!

Yes. Details...

BlackHawkopticsguy
Jul 23, 2012 - 12:14pm

So far opticsguy

you have commented about the corn crop based on visual cues well south of the corn belt (Texas) and well north of the corn belt (Wisconsin). Are you intentionally misleading people? What point are you trying to make with the posts about the corn crop you have made here?

Dagney Taggart
Jul 23, 2012 - 11:55am

@47

I'm not American. Jerk on that.

Number 47
Jul 23, 2012 - 11:49am

@dagney

Part of YOUR education is learning that the bigger picture means there is a large portion of the population of this planet who do not subscribe to the American way.

How complicated can it be?

Without dissenting opinion what you are left with is a circle jerk and to be honest, my wrists just aren't up for it.

Dagney Taggart
Jul 23, 2012 - 11:27am

@Nana

Didn't the same thing happen to gold in 1933? 20.xx --->Illegal ---> 35 ---> 1574.50

Dagney Taggart
Jul 23, 2012 - 11:25am

@Harlan

Part of your PM education will require you to understand the big picture. Individual liberty and what sustains it is a large part of that education. Sorry that it is uncomfortable to you at this point or that you're looking for specific answers and having trouble finding them.

The more you immerse yourself in all of these ideas, the easier it will be to isolate the gold from the babble.

Visit the FAQ page to learn how to track your last read comment, add images, embed videos, tweets, and animated gifs, and more.

The Green Manalishi
Jul 23, 2012 - 11:24am

Guns

Can we stop this about guns now.

New people will start feeling alienated from what was/is an excellent site about the metals.

On one hand I find it fascinating that people over the pond love their guns, but coming from a land where I have never seen one, held one, heard one, know anyone that has been shot by one - I'm sure you will appreciate that there are people here from different backgrounds and countries that have no or vastly differing experiences with guns.

With respect - The metals please.

ReachWest
Jul 23, 2012 - 11:19am

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