Fri, Nov 2, 2012 - 11:03am

Well, that all went to shit, didn't it?

Just goes to show ya, The Turd really isn't a soothsayer, a psychic or a witch. The Turd is just a regular dude, trying to do his best to educate and prepare the masses.

For now, all I know is this:

As hard as it is to believe, the metals are poised for a tremendous 2013. Currently, the algos are in charge and they are driving the paper price lower and lower, regardless of the fundamentals. The Bullion Banks openly manipulate price while the inept and corrupted CFTC looks the other way. All the while, Western physical metal is being rapidly depleted and moved into the vaults of dollar-creditor nations such as Russia, China and India.

One day soon, this will all explode in spectacular fashion and the current global financial system, based upon dollar hegemony, will be radically altered. Until then, trade at your own risk. Even I, The Great and Powerful Turd, allowed myself to be sucked back into the casino this one, last time. Turd DumDum...fool me 5 or six times, shame on me!

I'll have a new podcast for you this afternoon so please check back later today or over the weekend. I'll try to have a new, full post tomorrow morning, too. (I'd have one now but I can't print charts. I blew out all my ink trying to print off the Daily Racing Form for the Breeder's Cup. I may be an idiot but at least I have my priorities straight.)

Have a fun day and please utilize this paper nonsense to add to your physical stack.


About the Author

turd [at] tfmetalsreport [dot] com ()


Monedas Orange
Nov 3, 2012 - 11:55am

Orange !

Why can't we have that here ? Products people want ! Products that deliver ! I swear, I would get into futures if we had honest, fair, consumer friendly products .... that would stimulate interest in the under lying commodities ! Look at the manipulated shit we are offered by our friends at the Comex ? Does Comex have 66% of contracts delivered ? Monedas 1929 Comedy Jihad Why Don't We Have Free Enterprise Anymore World Tour PS: This is why I sometimes wonder if Harvey Organ and Daystar are apologists for the Crap That Be !

Nov 3, 2012 - 12:08pm


I'd like to thank the fine folks at Provident Metals for sharing a moment with me and allowing me to trade some computer-generated digits for physical metals.

It's an amazing thing. From data to (solid) dollars in about 3 minutes! And then this cute wavy-haired blonde delivers it in a week or so! The wonder of it all! :)

Nov 3, 2012 - 12:43pm

@SE: Coin shops,

@SE: Coin shops, people!

Best advice I've heard all day.

I'm kind of pitiful, actually.

Speaking of actually, should we actually be saying FUBM? Shouldn't it really be thank you? I mean, gee willikers, we're like the dolphins in Hitchhiker's Guide ​we don't even know it.

"So long and thanks for all the silver."

So, rather than a witch or a crone, isn't she more like...


some website wrote:
staying nonactive
withdrawing from involvement allowing events to proceed without intervention
being receptive to influence
becoming calm
being passive
waiting patiently
accessing the unconscious
using your intuition seeking guidance from within
trusting your inner voice
opening to dreams and the imagination
being aware of a larger reality
seeing the potential
understanding the possibilities opening to what could be
seeing your hidden talents
allowing development
letting what is there flower
sensing the mystery
looking beyond the obvious
approaching a closed off area
opening to the unknown
remembering something important
sensing the secret and hidden
seeking what is concealed
acknowledging the Shadow

And if your wondering how I got from 0 (the Fool) to II (the High Priestess) without going through I (the Magician), that's how I turned paper into silver.

Not only pitiful, bad kind of sad.

Nov 3, 2012 - 1:12pm
Prize Fighter
Nov 3, 2012 - 1:22pm

TomMack, I understand your

TomMack, I understand your point and a good one to consider. IMO income tax is merely to keep the proles in line and loans private credit, credibility. As you say, they don't need our money because they can just print more. Well, yes and no. We know where more printing gets us, so they only way they can convince the nation/world their script is actually good is get a group of people who buy into it no questions asked, enter income tax. This extortion provides just enough reason for cognitive dissonance to take hold. "Of course you have to pay taxes, I pay, my parents paid, my grandparents paid and its patriotic!" Meanwhile nobody dares test it because you will be charged with being a smartass, in so many words.

To answer your question more directly, they don't pay the debt with newly minted fiat because their fiat is debt. How can you extinguish debt with debt? A debt based economy requires growth. Contraction is death. Same as a ponzi. ONLY money extinguishes debt and I think Turdites know what money is :)

Prize Fighter
Nov 3, 2012 - 1:31pm

IslandGuy, interesting

IslandGuy, interesting thought experiment and some good replies. I would also add that oil is a global commodity and housing is domestic. Oil market used to be more domestic than it is now. I don't know how that change in global dependence has skewed your historical ratio constant but I think it has. Plus, as someone else said, gold/silver was held back stagnant and in artificial price for a long time before '71. The build up of debt provided a huge up swing once released. Same as we'll see soon, again!

ancientmoney Island Guy
Nov 3, 2012 - 2:44pm

@Island Guy

In 1959, prices relative to gold were closer to reality than they were by 1971. The costs of the Vietnam war, starting in about 1967, were being met by printing more fiat, so the prices of things relative to gold were rising faster. That is why France started taking gold (redeemed dollars for them) from the U.S. and ultimately why Nixon shut the gold window in 1971. We had lost about half our gold to other countries redeeming dollars they had received as results of trade surplus.

Since then, gold has been deemed as a useless asset by the bankers and politicians, and the people generally believe it so. However, since about 2002 more and more people recognize that the gigantic debt is unsolvable, and that gold is worth much more than its price indicated. So, the bankers keep the prices subdued so that people don't all recognize that it is still the only real money, alongside silver.

SilverWealth Dharibaba
Nov 3, 2012 - 3:08pm


I would be very careful with Morris. He sees what he wants to see and he selectively uses his volume analysis. He can have you averaging down into a collapsing chart and that is disastrous and unconscionable imo.

if I were to follow anyone both Clive Maund and Jack Chann have been on top of this. Hubbart's weakness is that he cannot recognize topping action in his favorite sectors and gets overly excited. Then when 'correction' begins he cannot distinguish between correction and collapse and he is always late to calling correction following 'consolidation'. This is because he is ideologically aligned with metals which compromises his analysis imo. He means well, but if your a subscriber you better have a good shovel because you will spend most of your time digging holes.

SilverWealth California Lawyer
Nov 3, 2012 - 3:15pm

Cal Lawyer

I hope your right and just stacking bullion works but to speak my feelings in a land of widespread criminality and zero accountability I cannot imagine this government not confiscating bullion or taxing its profits into oblivion with very stiff sentences for those in the underground. Judge them by their actions already. These people will stop at nothing and smack the label 'terrorist' on anyone.

Marc Faber has spoken about this repeatedly, I'm not just talking.

Prize Fighter
Nov 3, 2012 - 3:44pm

Potential confiscation for

Potential confiscation for silver/gold VS guaranteed purchasing-power confiscation for FRNs?

Is there an actual choice here? Why worry over doing the mathematically right thing? I'll burn that bridge when they cross it.

SilverWealth TF
Nov 3, 2012 - 3:47pm


from reading your stuff for a while I'll make a simple criticism.

You under estimate the Dollar chart and its ability to rally. When it does metals take enormous smelly dumps. The Dollar for the last 6 weeks had been in a consolidating pattern with 3 bottoms and a bunch of tops. That was the warning imo.

its kind of a large market, the Dollar. I think someone said that Clive Maund was all over this and had anticipated it. On the other hand, the ever ideological Morris Hubbart looked at the dollar chart and saw 'weakness'. He reads the dollar chart poorly on a consistent basis because he does not want it to go up. Sometimes its just that simple.

How did you read the Dollar chart before Friday and did you read the huge long positions in the COT that the Commercials had taken? That was the tell I think.

Road_Scholar dgstage
Nov 3, 2012 - 4:05pm


Who cares- she is probably 22 years old, so another will take her place!

Nov 3, 2012 - 8:25pm

@Be Prepared

I agree with the net conclusion, but disagree with the cause. It wasn't "China" that did that but US Multi-National Corporations, for whom Globalisation has allowed the export of manufacturing jobs to the lowest cost source whilst transfer pricing profits to the lowest cost tax haven (The Caymans, BVI, Ireland, Double Dutch etc.) to avoid US taxes. If it wasn't China, it would be Bangladesh, India, Thailand, Indonesia etc. Welcome to The United Corporatocracy of America.

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