Marking Time

Wed, Oct 24, 2012 - 10:13am

While we await word from The Bernank and his Goons, here's some stuff to help you pass the time.

As you likely know, there's an FOMC Meeting going on. It wraps up later today and The Bernank will then issue his "Fedlines" at 2:15 EDT. What will they say? Will there be something contained therein that initiates a short-covering rally? We'll see...

In the meantime, here's some stuff to keep you amused. First, I was interviewed twice yesterday and both links are below. Though I'm still just a dope with a Macbook, there might be a few nuggets in here worth noting. The first interview was with Jason Burack of It's about a half hour in length.

Turd Ferguson of TF Metals Report- Gold & Silver Correction Almost Over Big Move Coming In 2013

Then, last evening, Rahul at spoke with The Doc and I again.

Video unavailable

Lastly, I've posted a few links from "Trader Garrett" before and here's another. In this post, Garrett sees many of the same things we see here and projects some optimism for the days and weeks ahead.

That's all for now. I'll be back with an update after the Fedlines.


2:30 pm EDT UPDATE:


I could recap the Fed non-news but why bother? Instead, here's something fun. From my pal "Big Red" in Virginia, "Prepper Rock"!!

EXCLUSIVE 'Gettin' Down on the Mountain' by Corb Lund

About the Author

turd [at] tfmetalsreport [dot] com ()


Oct 24, 2012 - 11:43am

silver now at $31.60 for the 4th time..

will they smash it or let it go up now?

Oct 24, 2012 - 11:47am

so exciting, i think i'll take a nap

hard to believe the whole is world sitting on its hands doing next to nothing, waiting for the b.s. from b.s. bernanke? (his initials really are b. s.)

Torpedo Fish
Oct 24, 2012 - 11:47am
Oct 24, 2012 - 11:47am

Silver OI barely changed

While gold OI dropped about 1% after yesterday's weakness, silver OI went down only 180 contracts (0.13%) and remained above 140k. I don't recall seeing this kinda divergence b/t gold and silver before especially considering that silver fell harder than gold yesterday. You wouldn't think silver has corrected 10% if you only look at the OI #s.

Oct 24, 2012 - 11:49am

@ Katie Rose Re:Silver

Everyone agrees that the global gold market is tiny compared with the overall global economic markets.

The global silver market is but a VERY small portion of the size of the gold market!

Silver is in much shorter supply globally than gold.

Its true that the silver market is vastly more volatile than it's big brother gold. Thats because of it's very small size, where relatively small amounts of cash can move this market.

When gold shakes off it's manipulated low price and takes off to find it's fair valuation, you will see silver pass it's big brother like gold is standing still! Those that hold silver will do well.

As confirmation, please watch the new Grant Williams video I posted above. Hope that helps. Cheers.

Oct 24, 2012 - 11:49am

I think I have said this before..

Wednesdays always suck.

Oct 24, 2012 - 11:50am

I wonder ..

if there is a significant rise in anti-depressant sales to those that have been following the exploits of the metals for a prolonged period; nothing but gut-wrenching torture!

Oct 24, 2012 - 11:51am


Completely agree - waiting for the mini flash down to buy this months allotment of 'peace of mind'. I must say, this 31.5x is tempting tho, especially since it has to go back up and fill all those gaps.

It will be a 10z dragon bar for me this time. Anyone know what liberty cpm shipping charge is? never bought from them before.

Oct 24, 2012 - 11:53am

Market watch.. headlines.. gold breaks $1700

every fiat lover is having an orgasm now..

Jan Roos
Oct 24, 2012 - 11:54am


I haven't looked at the video you mentioned but I have been sold on the fundamental's for silver 2 years ago but recently I am wondering what will happen to our grey metal when tshtf. I think if silver doesn't get recognized as a monetary metal it will take a huge dump. If it gets recognized then we will see a moonshot.

So far no central banks or sovereign countries are buying or even talking about silver which makes me uneasy. Maybe they think there is not enough silver around to be used as currency or something like that.


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