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 ()


The man who stole a leopard
Jul 21, 2012 - 4:12pm

Just saw Dark Knight

Some funny lines the movie...

<After bad guy Bane shoots up the stock exchange and takes everyone hostage>

TRADER: There is no money here! There's nothing to steal!

BANE: Then why are you here?

Jul 21, 2012 - 4:16pm


PHYSICAL_ONLY... yes the best thing to do is average in. I starting buying silver back in 2002 at $4.52 an ounce. Even though that price is now almost 6 times higher than what I paid, I see the price of silver north of $100 easy.

CORRECTION... in my previous post it should have been this:

1997-2011 Total World Gold Production = 1,328 million oz

not the 132.8 million ( I was off one decimal point)

Jul 21, 2012 - 4:50pm


I mainly hold physical and a little fiat in some of PHSY and PSLV sort of looking to spread out a little into some miners.... I've looked at a lot of tickers but not sure what miners are better than others.

Can anyone recommend any good strong solid miners to research (not looking to flip trades but to hold long term)?

Disclaimer: Not seeking trading advice but a general direction to research with due diligence

Jul 21, 2012 - 4:52pm
Dagney Taggart
Jul 21, 2012 - 5:03pm


Silver production in Khazaristan is fascinating. So is the use of occult symbolism around the widely unknown capital, A-satan:


FYI: Condi Rice is an expert on Kazakhstan, made known from her time since she was with Exxon Mobil.

All bullish for silver.

Jul 21, 2012 - 5:22pm

Only 10%?

Beez: Since it's hard to find any source that says less than ~45% of Americans own stock, I'll just throw out the rest of that local radio baby with the bathwater.

And Daystar:

I can't find any proven record from GATA's London Trader. Throw me a link please to all of 'his' successful predictions.

And finally, it sure seems like a lot of crap gets hat-tipped around here for reasons I cannot discern. To that reasoning, please do not hat-tip this post. I'm interested how many HT without reading.

Jul 21, 2012 - 5:30pm


Check out Eric and Sheeples mining forums

Jul 21, 2012 - 5:36pm

Hey Man...

Video unavailable
Jul 21, 2012 - 5:39pm

Krugman attacks Estonia, Estonia bites back:

Interesting article, with a mention of Latvia (!), called Krugmenistan vs Estonia. And with a literary segue too:

After college, Ilves went to grad school for psychology until he read Thomas Pynchon’s Gravity’s Rainbow. He wasn’t sure what he wanted to do after finishing the book, but he knew he was done with grad school.


Btw, I have read a Short History of Ukranian Tractors, and Gravity's Rainbow. I cannot pretend to have understood the latter.

I Run Bartertown
Jul 21, 2012 - 6:23pm

Bad Boys (Unless you're a hungry Greek)

"Greece has a corrupt political system. Those political parties elected to parliament can legally use public funds to finance their own operations and campaigns. In 2012, at a time when the country was in deep fiscal distress and people were starving on the streets, the ruling parties allotted around 15 Euros per voter to each party with seats in Parliament, amounting to tens of millions in payouts.... Despite this fact, the two major parties PASOK and ND are together almost 250 million euros in debt. This was one item in a long list of fiscal grievances which led PASOK and ND to lose much of their support in the May and June elections of this year to a number of newer, smaller parties on both the right and the left. One of these parties was the hardline Greek nationalist party Golden Dawn, which received just under 7% of the vote in both elections. The Golden Dawn wants Greece to remain Greek and has called for ethnically-based citizenship and the deportation of all immigrants. They have also vowed to fight governmental corruption, and as part of this have called for the end of state funding for political parties, saying in a party statement, “It is unacceptable for political parties to receive millions of euros when people are destitute.”8 Until that time, the Golden Dawn has announced that it will use its state funds to run programs which directly benefit the Greek people, such as soup kitchens andmedical aid, as a way to “‘return’ the Greek people the money they gave [Golden Dawn] with their vote.”9 These programs are only open to ethnic Greeks; immigrants are excluded. Even a liberal reporter had to admit that, “[the Golden Dawn's] actions should be acknowledged as a slap in the face of the established political world and particularly those claiming to be on the side of the poor and unemployed.”


I know, I know, one of them slapped a commie lady on TV, and you're not supposed to do that. Ted Kennedy drowned one and was able to move on with life.

Good for them. And even better for the sick and hungry they help.

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