Wrapping Up

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.


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

turd [at] tfmetalsreport [dot] com ()


Jul 23, 2012 - 10:54am

Just another Mantic Monday

Dollar up

Gold and silver down

LIBOR scandal

Real unemployment in double digits

Devastating drought

Escalating food prices


and on and on....it goes.....

But they keep saying everything is fine....

Jul 23, 2012 - 10:50am


...catching a bid just now.

Jul 23, 2012 - 10:47am

Number 47 - What is happening with the banks?

I have been following your posts over the last few weeks with great interest. Have your accounts all returned to normal? Has there been any explanation for what/ how it occured other than " an I.T. " error? It certainly led me to add to my preps. Agree with you that the gun thing is pretty well done now - you, like me, live in a country where commoners are not allowed to own guns so the whole debate is a waste of time. Can we get back to PMs? Typhoon here is really roaring - looks like our incompetent weather bureau have done it again - a much stronger typhoon than forecast coming very, very close. Glad to have my stockpile of food and water just in case the local 7/11 is closed in the morning ;)

Jul 23, 2012 - 10:44am

Craigslist - Huge Coin Lot

Just in case anybody is interested in bidding. Never seen a lot this large and they say it will only be sold as a lot.


ENORMOUS ESTATE LIQUIDATION Hoards of Treasures... Gold Silver Coins Over 100 lbs of Coins Hundreds of US Currency Bills Fine Art Jewelry Diamonds, Rubies, Emeralds, Gold, Silver Rare Antiques Life' Collection of Treasures Nothing like it anywhere for sale Piles of Vintage and Rare items And SO much more…
Jul 23, 2012 - 10:42am

@ Harlan07

If you don't like it then leave, sorry that we care about more things then you care about. To me, its obnoxious that you think everyone will bend over and kiss your ass just because you don't like reading through comments. If you don't like the comments then don't read them and just stick to turds articles. Some people....

Jul 23, 2012 - 10:37am

ivars: XAU @ 26.94

I guess you mean XAG. If you found XAU at 26.94 I would seriously want to know where you are getting it!

Gold Five
Jul 23, 2012 - 10:36am


I read an interesting interview last week that counters some of your points about gun control. Here's a specific quote that's appropriate:

You’re still judging the right’s right to exist by whether or not the right works. The question implies a utilitarian standard. If it isn’t productive of desired or useful results in the present age, it has no raison d’eêtre. The question in this case is, rather, why you think you have a right to deprive a peaceable individual of this liberty because it doesn’t produce any discernible benefits for you or others.

And also from the opening paragraph:

Do people have the right to be free? In that case, do they have the right to protect themselves? Finally, do they have the right to use arms for self-defence? If so, it shouldn’t matter whether, according statistics, guns wither kill or save lives. The fact that one should be allowed to defend himself simply excludes that government disarm him.


Jul 23, 2012 - 10:36am

@ Dagney

I didn't think you were insulting anyone, I understand your point completely.

@ 47: Diddo with Dagney

Short Stack
Jul 23, 2012 - 10:36am

A rebuttal.

"And you would be able to stop attack helicopters, tanks, missiles and drones with your rifles and pistols if the government comes for yours?"

For the record, tanks and missiles, no. Drones and helicopters, that's another story.

In Vietnam the north vietnameze soldiers DID shoot down some of our helicopters as they flew passed them over-head. The idea is simple. One bullet from one gun, not much likely to do damage. Ten, twenty or more guns all firing at once at a helicopter, using a method we call "Kentucky windage" or leading the target when you fire, has brought down helicopters.

I see no reason why we couldn't do the same with the slower moving Drones.

Jul 23, 2012 - 10:34am

Just added 200 Oz XAU at

Just added 200 Oz XAU at 26,94, so now I have 700 Oz with medium price 29,23.

I have money left to stack 3-4 oz of Gold next week.

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Key Economic Events Week of 7/13

7/13 11:30 ET Goon Williams speech
7/13 1:00 ET Goon Kaplan speech
7/14 8:30 ET CPI for June
7/14 2:30 ET Goon Bullard speech
7/15 8:30 ET Empire State and Import Price Idx
7/15 9:15 ET Cap Ute and Ind Prod
7/16 8:30 ET Retail Sales and Philly Fed
7/16 11:00 ET Goon Williams again
7/17 8:30 ET Housing Starts and Permits

Key Economic Events Week of 7/6

7/6 9:45 ET Markit Service PMI
7/6 10:00 ET ISM Service PMI
7/7 10:00 ET Job openings
7/9 8:30 ET Initial jobless claims
7/9 10:00 ET Wholesale inventories
7/10 8:30 ET PPI for June

Key Economic Events Week of 6/29

6/30 9:00 ET Case-Shiller home prices
6/30 9:45 ET Chicago PMI
6/30 10:00 ET Consumer Confidence
6/30 12:30 ET CGP and SSHW to Capitol Hill
7/1 8:15 ET ADP Employment
7/1 9:45 ET Markit Manu PMI
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7/1 2:00 ET June FOMC minutes
7/2 8:30 ET BLSBS
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Key Economic Events Week of 6/22

6/22 8:30 ET Chicago Fed
6/22 10:00 ET Existing home sales
6/23 9:45 ET Markit flash PMIs for June
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6/25 8:30 ET Q1 GDP final guess
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6/26 8:30 ET Pers Inc and Spending
6/26 8:30 ET Core inflation

Key Economic Events Week of 6/15

6/16 8:30 ET Retail Sales
6/16 8:30 ET Cap Ute and Ind Prod
6/16 10:00 ET Chief Goon Powell US Senate
6/16 4:00 pm ET Goon Chlamydia speech
6/17 8:30 ET Housing Starts
6/17 12:00 ET Chief Goon Powell US House
6/18 8:30 ET Initial Jobless Claims
6/18 8:30 ET Philly Fed
6/19 8:30 ET Current Account Deficit
6/19 1:00 pm ET CGP and Mester conference

Key Economic Events Week of 6/8

6/9 10:00 ET Job openings
6/9 10:00 ET Wholesale inventories
6/10 8:30 ET CPI for May
6/10 2:00 ET FOMC Fedlines
6/10 2:30 ET CGP presser
6/11 8:30 ET Initial jobless claims
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6/12 8:30 ET Import price index
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Key Economic Events Week of 5/25

5/26 8:30 ET Chicago Fed
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5/27 2:00 ET Fed Beige Book
5/28 8:30 ET Q2 GDP 2nd guess
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5/29 8:30 ET Pers Inc and Cons Spend
5/29 8:30 ET Core Inflation
5/29 9:45 ET Chicago PMI

Key Economic Events Week of 5/18

5/18 2:00 ET Goon Bostic speech
5/19 8:30 ET Housing starts
5/19 10:00 ET CGP and Mnuchin US Senate
5/20 10:00 ET Goon Bullard speech
5/20 2:00 ET April FOMC minutes
5/21 8:30 ET Philly Fed
5/21 9:45 ET Markit flash PMIs for May
5/21 10:00 ET Goon Williams speech
5/21 1:00 ET Goon Chlamydia speech
5/21 2:30 ET Chief Goon Powell speech

Key Economic Events Week of 5/11

5/11 12:00 ET Goon Bostic speech
5/11 12:30 ET Goon Evans speech
5/12 8:30 ET CPI
5/12 9:00 ET Goon Kashnkari speech
5/12 10:00 ET Goon Quarles speech
5/12 10:00 ET Goon Harker speech
5/12 5:00 ET Goon Mester speech
5/13 8:30 ET PPI
5/13 9:00 ET Chief Goon Powell speech
5/14 8:30 ET Initial jobless claims and import prices
5/14 1:00 ET Another Goon Kashnkari speech
5/14 6:00 ET Goon Kaplan speech
5/15 8:30 ET Retail Sales and Empire State index
5/15 9:15 ET Cap Ute and Ind Prod
5/15 10:00 ET Business Inventories

Key Economic Events Week of 5/4

5/4 10:00 ET Factory Orders
5/5 8:30 ET US Trade Deficit
5/5 9:45 ET Markit Service PMI
5/5 10:00 ET ISM Sevrice PMI
5/6 8:15 ET ADP jobs report
5/7 8:30 ET Productivity
5/8 8:30 ET BLSBS
5/8 10:00 ET Wholesale Inventories

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