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 ()


Nov 2, 2012 - 12:44pm

and maybe the selling across the board today

is the start of tax selling before rates go up

I guess holding out on hope that Romney would win.

Obama victory will not be good for blue chip dividend paying stocks.

In fact we could see wholesale selling

Nov 2, 2012 - 12:46pm

Caller on AJ

Just said, gas in NY by him is being sold by people filling their gas cans only, no cars allowed on property, people lined up on foot with their gas cans...... Cash only too.... Said he went to the bank and only one person is allowed in at a time and everyone is limited to $100.00 dollar withdrawal.

Nov 2, 2012 - 12:47pm


Let's have a FUBM into the close, back up to $32 please.

Nov 2, 2012 - 12:49pm

Price Suppression Rationale

The present thought today on TFMR is what is happening on the markets does not make any sense.

It doesn't make sense for the TBTFs to be net megashort when the supply of above ground silver is running out.

It doesn't make sense to spend without restraint and then print money to buy our own debt so we can keep on spending.

It doesn't make sense to destroy the lifeblood of your economy with unlimited money printing.

It doesn't make sense to destroy your means of livelihood unless you have something better lined up.

It doesn't make sense to go all in to support businesses that have recklessly ruined their finances and enable them to double down on more of what got them into the mess in the first place.

It doesn't make sense to rack up 1.25 quadrillion in unregulated derivative bets that cannot be paid with the entire GDP of the world 20 times over.

"Just folks" here in TFMR can see the insanity of the current fiscal policies plain enough. You know that folks that have PhDs in economics know these things. You know these guys know these things, but they do them anyway. Since they are burning their bridges and biting the hand that feeds them, they are incredibly stupid (the usual meme found among almost all antagonists of the present fiscal policies) or these guys are very evil and have a hidden agenda. There is an absolute ton of material available that shows that a multi-decade/multi-century evil plan is proceeding apace. It is dismissed with an airy "that's a conspiracy theory". That seems odd to me when almost everyone on this blog acknowledges that Libor and commodities, particularly PMs, are excruciatingly manipulated with the knowledge and consent of the the regulators and government. That's a conspiracy folks, whether you call it that or not. It is a conspiracy, and most readers of TFMR believe it is fact, not fiction. So most TFMR readers believe there are active conspiracies. How did we learn about these conspiracies? It wasn't from the MSM, was it? We learned about these things by reading non-mainstream sources like TFMR, Harvey, KWN, and others. Why do we believe it? Because we read the articles and evaluated the evidence and concluded that there was merit in the arguments.

I read folks like Andy Hoffman, and he acknowledges there is a PM price suppression conspiracy, but he says there is no proof of an overarching evil conspiracy, but he merely asserts his conclusion. There certainly is evidence of an overarching evil conspiracy, the same kind of evidence that convinced us of a PM price suppression conspiracy. There is testimony of people that were in it and that left it, and some of them (Chip Tatum) died for their testimony. Their testimony should be evaluated as one would evaluate any testimony. Are the witnesses consistent? Are they believeable? What did they have to gain? Are they dis-information agents? Read it and decide, like a jury would, but the evidence is there. It is as good of evidence as you can find for anything. Multiple people who were in it testify to what they themselves saw and heard. Are they liars? They don't look like it to me, and they lost a lot by being whistleblowers. The witnesses agree with each other about the conspiracy. They are certainly not making money off of it, and at least one ended up floating up on a beach in Panama with half his face ripped off. You have the copious documentation of careful historians like Jim Marr and and you have the testimony of men who investigated the tax free foundations and secret societies. Then you have the testimony of people inside who have defected. There is a large body of insider testimony. This is hard evidence, the same kind of evidence we used to conclude there is a conspiracy to suppress interest rates and PM prices. Just apply the same process to evaluating the overall evil agenda that you used to conclude that PMs are manipulated.

There is admittedly one big hang up with the idea of a conspiracy that has lasted decades or hundreds of years. It is the fact that men die and with them goes their power and purposes. Other men take their power and the organizations wane and change directions. How could a conspiracy lay plans that require decades or hundreds of years to come to fruition? The answer is there is a satanic power that maintains direction and coherency over generations. Most people reject this fact a priori, and because the very possibility of an overarching satanic directed plan is rejected, the idea instantly loses credibility. But the inconsistency between the obvious intelligence of the perpetrators and the insanity of their actions remains, and their inexplicable behavior remains as an impenetrable enigma. Accepting the eye witness testimony and the evidence of history says there has been a plan, and it is being carried out. Accepting that thesis explains why men would destroy their businesses, countries, livelihood, civilization, and families and condemn billions to an untimely death. They give up all this in order to own the world and all that is in it. And in the main they will succeed. Just like New Jersey, the lights will go out all across America and each of us will face the same chaos and difficulties as we see today in New Jersey. Your best hope is to prepare for the worst and likely inevitable outcome. As Ranting Andy says, "Protect yourself and do it now!"


Nov 2, 2012 - 12:49pm


Great points! This is exactly why I'm not worried about my most recent purchase of silver. It's underwater due to today's raid, but I don't think it will be for long. It's hard to not get upset on days like today. But I just stay focused on the big picture.

Nov 2, 2012 - 12:49pm

Ummm...now the COMEX permashorts won't be destroyed until 2013?

Wow. Ok...

Do you think Turd, that you'll ever admit that what you write on this site is actually hurting your cause?

(Please keep in mind, I LOVE the Community {big "C"} and and fundamental-speak, but HATE and DESPISE the TA)

Why won't you at least entertain that TA is now useless? You TA buffs (of which I used to be) are always JUSTIFYING the movement....IN HINDSIGHT. Your foresight track record is no better than flipping a coin... Why can't you admit that it DOES NOT WORK anymore and that you are playing right into the Cartel's hands? Is it pride? If so, from the Bible, "pride goeth before a fall".....Do you not want to believe it because then in your mind, you can't fight anymore as your ammunition gets stripped from you?

Listen, please here my explanative here as constructive. I am a friend, not a foe. I really am trying to help the greater cause here but through honesty....sometimes, having to look in the mirror about something, although uncomfortable, bears tremendous fruit when a realization that wants to be born, is finally brought into the world.

In my mind, my effort to show this is worth a try. Again, not trying to be your enemy or tear you down in any way.


Nov 2, 2012 - 12:52pm

192 Million Ounces of Paper Silver Dumped on Market in 10 Mins

192 Million Ounces of Paper Silver Dumped on Market in 10 Minutes On NFP Release!

According to NetDania’s volume (which approximates volume from 5 separate sources and is not an exact indicator of volume data) 38,400 contracts, or 191.99 million ounces of paper silver (nearly a quarter of annual global silver production!) were dumped on the market in only 10 minutes between 8:30 and 8:40am EST upon the release of the NFP data.


Nov 2, 2012 - 12:54pm

Silver Dump

According to NetDania’s volume (which approximates volume from 5 separate sources and is not an exact indicator of volume data) 38,400 contracts, or 191.99 million ounces of paper silver (nearly a quarter of annual global silver production!) were dumped on the market in only 10 minutes between 8:30 and 8:40am EST upon the release of the NFP data.


Edit, sorry Bollocks, didn't see your post.

Nov 2, 2012 - 12:55pm


also forgot teh bank insolvency, mark to market and derivative issues as to big obstacles which cannot be overcome.

Not sure anybody understands how the derivatives offsets work--somebody (taxpayer) gets left holding the bag I guess

I bet today really reduced cot short positions

Double Bogey
Nov 2, 2012 - 12:56pm

I just want to live long enough

to be proven I'm not an idiot for stacking. Went to the LCS and picked up another $5 of mercury dimes. Even the owner was scratching his head asking "When are people going to wake up?" I fear the powers that be are too powerful to fail.

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