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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Nana
Jul 23, 2012 - 10:33am

Somewhere theres is a place for us

Somewhere

Il Divo - Somewhere
IN CONGRESS, JULY 4, 1776 The unanimous Declaration of the thirteen united States of America

When in the Course of human events it becomes necessary for one people to dissolve the political bands which have connected them with another and to assume among the powers of the earth, the separate and equal station to which the Laws of Nature and of Nature's God entitle them, a decent respect to the opinions of mankind requires that they should declare the causes which impel them to the separation.

We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness. — That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed, — That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness. Prudence, indeed, will dictate that Governments long established should not be changed for light and transient causes; and accordingly all experience hath shewn that mankind are more disposed to suffer, while evils are sufferable than to right themselves by abolishing the forms to which they are accustomed. But when a long train of abuses and usurpations, pursuing invariably the same Object evinces a design to reduce them under absolute Despotism, it is their right, it is their duty, to throw off such Government, and to provide new Guards for their future security. — Such has been the patient sufferance of these Colonies; and such is now the necessity which constrains them to alter their former Systems of Government. The history of the present King of Great Britain is a history of repeated injuries and usurpations, all having in direct object the establishment of an absolute Tyranny over these States. To prove this, let Facts be submitted to a candid world.

He has refused his Assent to Laws, the most wholesome and necessary for the public good.

He has forbidden his Governors to pass Laws of immediate and pressing importance, unless suspended in their operation till his Assent should be obtained; and when so suspended, he has utterly neglected to attend to them.

He has refused to pass other Laws for the accommodation of large districts of people, unless those people would relinquish the right of Representation in the Legislature, a right inestimable to them and formidable to tyrants only.

He has called together legislative bodies at places unusual, uncomfortable, and distant from the depository of their Public Records, for the sole purpose of fatiguing them into compliance with his measures.

He has dissolved Representative Houses repeatedly, for opposing with manly firmness his invasions on the rights of the people.

He has refused for a long time, after such dissolutions, to cause others to be elected, whereby the Legislative Powers, incapable of Annihilation, have returned to the People at large for their exercise; the State remaining in the mean time exposed to all the dangers of invasion from without, and convulsions within.

He has endeavoured to prevent the population of these States; for that purpose obstructing the Laws for Naturalization of Foreigners; refusing to pass others to encourage their migrations hither, and raising the conditions of new Appropriations of Lands.

He has obstructed the Administration of Justice by refusing his Assent to Laws for establishing Judiciary Powers.

He has made Judges dependent on his Will alone for the tenure of their offices, and the amount and payment of their salaries.

He has erected a multitude of New Offices, and sent hither swarms of Officers to harass our people and eat out their substance.

He has kept among us, in times of peace, Standing Armies without the Consent of our legislatures.

He has affected to render the Military independent of and superior to the Civil Power.

He has combined with others to subject us to a jurisdiction foreign to our constitution, and unacknowledged by our laws; giving his Assent to their Acts of pretended Legislation:

For quartering large bodies of armed troops among us:

For protecting them, by a mock Trial from punishment for any Murders which they should commit on the Inhabitants of these States:

For cutting off our Trade with all parts of the world:

For imposing Taxes on us without our Consent:

For depriving us in many cases, of the benefit of Trial by Jury:

For transporting us beyond Seas to be tried for pretended offences:

For abolishing the free System of English Laws in a neighbouring Province, establishing therein an Arbitrary government, and enlarging its Boundaries so as to render it at once an example and fit instrument for introducing the same absolute rule into these Colonies

For taking away our Charters, abolishing our most valuable Laws and altering fundamentally the Forms of our Governments:

For suspending our own Legislatures, and declaring themselves invested with power to legislate for us in all cases whatsoever.

He has abdicated Government here, by declaring us out of his Protection and waging War against us.

He has plundered our seas, ravaged our coasts, burnt our towns, and destroyed the lives of our people.

He is at this time transporting large Armies of foreign Mercenaries to compleat the works of death, desolation, and tyranny, already begun with circumstances of Cruelty & Perfidy scarcely paralleled in the most barbarous ages, and totally unworthy the Head of a civilized nation.

He has constrained our fellow Citizens taken Captive on the high Seas to bear Arms against their Country, to become the executioners of their friends and Brethren, or to fall themselves by their Hands.

He has excited domestic insurrections amongst us, and has endeavoured to bring on the inhabitants of our frontiers, the merciless Indian Savages whose known rule of warfare, is an undistinguished destruction of all ages, sexes and conditions.

In every stage of these Oppressions We have Petitioned for Redress in the most humble terms: Our repeated Petitions have been answered only by repeated injury. A Prince, whose character is thus marked by every act which may define a Tyrant, is unfit to be the ruler of a free people.

Nor have We been wanting in attentions to our British brethren. We have warned them from time to time of attempts by their legislature to extend an unwarrantable jurisdiction over us. We have reminded them of the circumstances of our emigration and settlement here. We have appealed to their native justice and magnanimity, and we have conjured them by the ties of our common kindred to disavow these usurpations, which would inevitably interrupt our connections and correspondence. They too have been deaf to the voice of justice and of consanguinity. We must, therefore, acquiesce in the necessity, which denounces our Separation, and hold them, as we hold the rest of mankind, Enemies in War, in Peace Friends.

We, therefore, the Representatives of the united States of America, in General Congress, Assembled, appealing to the Supreme Judge of the world for the rectitude of our intentions, do, in the Name, and by Authority of the good People of these Colonies, solemnly publish and declare, That these united Colonies are, and of Right ought to be Free and Independent States, that they are Absolved from all Allegiance to the British Crown, and that all political connection between them and the State of Great Britain, is and ought to be totally dissolved; and that as Free and Independent States, they have full Power to levy War, conclude Peace, contract Alliances, establish Commerce, and to do all other Acts and Things which Independent States may of right do. — And for the support of this Declaration, with a firm reliance on the protection of Divine Providence, we mutually pledge to each other our Lives, our Fortunes, and our sacred Honor.

I Run Bartertown
Jul 23, 2012 - 10:32am
harlan07
Jul 23, 2012 - 10:28am

Stop

I've had it with the comments. I'm new to PMs and trying to stack and get educated on the collapse and corruption in the financial system but I have to wade through these ridculous exchanges to mine the relevant posts. You guys are obnoxious

Colonel Angus
Jul 23, 2012 - 10:25am

tmosely

That is just crazy enough...that we really need to consider it.

Dagney Taggart
Jul 23, 2012 - 10:23am

@baba

I didn't mean to insult the memory of the slain students. It's just that bad things happen sometimes yet these are not even close to reason enough to suppress the means that could have helped prevent 10's of millions from being murdered by oppressive rulers and veiled blood cults.

@47: The point was made. And you are in no position to talk about maturity.

tmosley
Jul 23, 2012 - 10:22am

So, I had another hideous

So, I had another hideous thought this morning.

I was thinking about the totally illogical correlation between gold, silver, and the Euro, and how any fall in the Euro pushes down gold and silver. The market is now pricing in a Greek default, and Italian and Spanish restrictions on trade. Why on Earth would such concerns carry over to gold and silver.

Then it struck me--the markets are pricing in a gold and silver default. What if the physical gold and silver that is being supplied to the market now is all coming from the EU? If Spain defaults on its debt, will it stop selling the silver they confiscated from those treasure hunters a while back?

What happens when the Euro breaks up? If these guys are the ones supplying the metals to the physical markets, those markets might well just break, and we get a ticker reading of zero, or very close to it, while there is no physical gold or silver anywhere. This is in line with my previous assertions, but this theory takes paper price moves into account, and as such may tie in with Turd's own ideas. Sort of a grand unified theory of PM manipulation.

Jager06Number 47
Jul 23, 2012 - 10:19am

@ 47

You are awesome sir. I must commend your tenacity.

If you will notice my avatar, you will see a photo shot by an A.P. reporter by happenstance while I and my 22 men were being attacked by a car bomb. One of seven that morning actually.

You sir, incorrectly assume that wars are fought by those of equal armament. Perhaps the Northern Ireland bit has escaped your memory?

I am glad your ideas are working out well for you. Keep them! By all means. Myself, having survived the affects of religious zealotry, empire building, and the human attempt to dominate others thinking and behavior at any cost, I will maintain my arms and be self sufficient to that end.

FWIW outside of my military assignments, I have never voluntarily lived in a place with more than a few thousand other humans. I learned from observing nature as a youngster what right and wrong were. I don't see many city folks who have the same level of understanding, but that is just my observations.

Why are you so afraid of people around being able to defend themselves? Are you harboring some sort of innate desire to harm others and feel that those around you are just like you in those desires? I can understand your need to keep weapons out of the hands of your neighbors if you feel they would live out their violent rampages in the manner with which you have imagined yourself doing so.

Nana
Jul 23, 2012 - 10:18am

@ Fired

Too funny, LOL!

Number 47
Jul 23, 2012 - 10:16am

@dagney

I feel the same way, you bore the shit out of me and I have to paint my bedroom.

Now that your 'argument' is suitably discredited of course.

Dagney Taggart
Jul 23, 2012 - 10:15am

Yawn...

MAS--TER--BAI--TOR! Cha-cha-chachacha!

In other news, it seems SLV 26 (DCA'd) is being painted. Comex Gold expires on the 26th. Tends to mark dips. TP ready.

47: Tanks are not abundant enough to be in the standard arsenal of a criminal. Stop coming up with extremist bedwetting examples to support your position. You've lost the right to defend yourself using any significant means and now you're just pissed because you have perma-d*ck in your a**.

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Key Economic Events Week of 6/29

6/30 9:00 ET Case-Shiller home prices
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Key Economic Events Week of 6/22

6/22 8:30 ET Chicago Fed
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Key Economic Events Week of 6/8

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5/18 2:00 ET Goon Bostic speech
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