Very Early Monday

Mon, Dec 24, 2012 - 1:24am

It's going to be a while before I can write up a full new post so, with the current post pushing 40,000 views, I thought I'd better give you a new thread to chew on overnight.

I hope that Uncle Ted doesn't mind. He's the patriarch of our movement and, as you know, I hold him in very high regard. I would strongly encourage you to consider subscribing to his site, especially at this critical moment in our history.

Following along with the previous post here at TFMR, Uncle Ted crafted these two paragraphs in his "Weekly Review" back on Saturday. Concise but with an added level of detail I failed to provide, these two paragraphs provide an essential background to the entire silver manipulation story.

"The danger of a further sharp silver sell-off still exists because JPMorgan’s concentrated short position still exists. Based upon physical market considerations, there is also a danger that JPMorgan could lose control and silver could explode. That’s what’s wrong with a concentrated position and manipulated market in the first place. Through the cut-off date, JPMorgan was still short 34,000 contracts, down 1500 for the reporting week. Remarkably, this is still a third of the entire net short side of COMEX silver (minus spreads) and represents more than 22% of annual world mine production. Here’s another tidbit – the 170 million oz of equivalent silver that JPMorgan is short on the COMEX is more than 20% of the all the visible silver bullion in the world (817 million oz – source

To give you a sense of the dimensions of holding a paper short position of this magnitude in gold, silver’s precious metal sister, please consider that if one entity held 20% of the two billion oz (minimum) of all visible gold bullion in the world short on the COMEX, it would require a short position of 4 million COMEX contracts, nearly ten times the current total open interest. (2 billion oz gold oz X 20% and then converted into 100 oz COMEX contracts). My point here is that the more you compare JPMorgan’s concentrated silver short position to other markets, the more you are amazed at the audacity of their silver manipulation."

I'll have a full, updated post in 12 hours or so. Until then, good luck and btfd.


About the Author

turd [at] tfmetalsreport [dot] com ()


Dec 24, 2012 - 1:31am
Dec 24, 2012 - 1:33am



A merry Christmas Turd and all!

may the dollar drop and gold and silver rocket!

Mr. Fix
Dec 24, 2012 - 1:40am


It's 1:30 AM, time for new thread? Really?!!

Now I have to go back and read it,

it must be very important!

Thanks Turd.

And in case I don't get a chance, a sincere Merry Christmas to all, and best wishes in the new year.

And now for something that I never do after announcing second in a thread, I am going to sleep now.

Good night, sweet dreams.

Dec 24, 2012 - 1:42am

Top Five...

Thought I'd have Thurd, but that outcome was 'Fix'ed and the best I could do was Fourth!! I've been adding to my stack this week and doing so via Provident.

Turd, do you make any money on those Provident purchases of mine? I'm hoping so!

THANK YOU and MERRY CHRISTMAS to all you Turds and Turdlings. I am glad to be a part of this community and (though I rarely...if ever...have anything to contribute) have the highest respect for all of you who try your best to educate us all on the ins and outs of the metals market!

Keep the faith Turd. There'll always be assholes who think it makes them look better when they try to make someone else look bad. Folks with integrity see right through AND past those kind of folks.


Dec 24, 2012 - 2:10am

well heck,

I'll take being in the top ten anytime......for being up so late, I guess!?

The Toronto Minnow
Dec 24, 2012 - 2:15am

Minnow time

Top ten first post! It's Minnow time (2:14am here in Toronto)!

Enjoy the site, enjoy stacking what I can when I can.

(Every little bit helps... I think of it as confiscating the base material from the manipulators.)

Dec 24, 2012 - 2:18am

Five for me

Well, technically, four since the first was a double.

I could use a double for that matter.

A video I doubt any of you have seen. Red McKenzie is playing comb and paper & his buddy, Josh Billings is playing suitcase percussion using two whisk brooms.

Mound City Blue Blowers "St. Louis Blues" 1929
Dec 24, 2012 - 2:31am

Merry Christmas!!!

Merry Christmas to all turdies!!!!

Dec 24, 2012 - 2:40am

seldom comment, because I am here to learn

but, I want to thank everyone here for helping me understand the difference between paper fiat and real money without counterparty risk, for helping me stay the course, and for teaching this little old arthritic granny to be a very small (but very strong) hand.

I have learned so much, have discovered Austrian Economics, figured out who to listen to, and who to ignore.

Now, if I could only convince my grown adult children... (and, yes, one managed to go to Harvard Business School, unfortunately.)

Asked him today if HBS had taught him anything but Keynsian Economics - if they had ever mentioned Austrian. No, he had never heard of it.

I keep sending him links, but he has a truckload of excuses as to why he doesn't have time to study up.

Why? What more can I do to smack some sense into that 45 year old graying head of his, for my grandchildren's sake. Can't even get him to understand the importance of having some dehydrated food in the event of an emergency.

Harvard Business School isn't worth Harry Truman's bucket of warm spit, if you ask me. I would love to say something stronger, but it did get him a very good job in a relatively safe sector of the economy, so I shouldn't whine too much.

I hope the new year brings us all good news, and that we manage to locate all the "pretties" we lost at the bottom of various lakes and rivers (or sewer grates in my case).

I also pray that we can manage to hang on to some semblance of civilization if the worst happens.

Merry Christmas to all of you, and a Happy New Year.

from a tired old granny, who has a hard time watching what is happening to the country of her youth.

El Gordo
Dec 24, 2012 - 2:48am

Top ten I think

El Gordo says Merry Christmas to all, and if you are offended by that, good.

Key Economic Events Week of 10/14

10/15 8:30 ET Empire State Fed MI
10/16 8:30 ET Retail Sales
10/16 10:00 ET Business Inventories
10/17 8:30 ET Housing Starts and Bldg Perms
10/17 8:30 ET Philly Fed MI
10/17 9:15 ET Cap Ute and Ind Prod
10/18 10:00 ET LEIII
10/18 Speeches from Goons Kaplan, George and Chlamydia

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Key Economic Events Week of 10/14

10/15 8:30 ET Empire State Fed MI
10/16 8:30 ET Retail Sales
10/16 10:00 ET Business Inventories
10/17 8:30 ET Housing Starts and Bldg Perms
10/17 8:30 ET Philly Fed MI
10/17 9:15 ET Cap Ute and Ind Prod
10/18 10:00 ET LEIII
10/18 Speeches from Goons Kaplan, George and Chlamydia

Key Economic Events Week of 10/7

10/8 8:30 ET Producer Price Index
10/9 10:00 ET Job Openings
10/9 10:00 ET Wholesale Inventories
10/9 2:00 ET September FOMC minutes
10/10 8:30 ET Consumer Price Index
10/11 10:00 ET Consumer Sentiment

Key Economic Events Week of 9/30

9/30 9:45 ET Chicago PMI
10/1 9:45 ET Markit Manu PMI
10/1 10:00 ET ISM Manu PMI
10/1 10:00 ET Construction Spending
10/2 China Golden Week Begins
10/2 8:15 ET ADP jobs report
10/3 9:45 ET Markit Service PMI
10/3 10:00 ET ISM Service PMI
10/3 10:00 ET Factory Orders
10/4 8:30 ET BLSBS
10/4 8:30 ET US Trade Deficit

Key Economic Events Week of 9/23

9/23 9:45 ET Markit flash PMIs
9/24 10:00 ET Consumer Confidence
9/26 8:30 ET Q2 GDP third guess
9/27 8:30 ET Durable Goods
9/27 8:30 ET Pers Inc and Cons Spend
9/27 8:30 ET Core Inflation

Key Economic Events Week of 9/16

9/17 9:15 ET Cap Ute & Ind Prod
9/18 8:30 ET Housing Starts & Bldg Perm.
9/18 2:00 ET Fedlines
9/18 2:30 ET CGP presser
9/19 8:30 ET Philly Fed
9/19 10:00 ET Existing Home Sales

Key Economic Events Week of 9/9

9/10 10:00 ET Job openings
9/11 8:30 ET PPI
9/11 10:00 ET Wholesale Inv.
9/12 8:30 ET CPI
9/13 8:30 ET Retail Sales
9/13 10:00 ET Consumer Sentiment
9/13 10:00 ET Business Inv.

Key Economic Events Week of 9/3

9/3 9:45 ET Markit Manu PMI
9/3 10:00 ET ISM Manu PMI
9/3 10:00 ET Construction Spending
9/4 8:30 ET Foreign Trade Deficit
9/5 9:45 ET Markit Svc PMI
9/5 10:00 ET ISM Svc PMI
9/5 10:00 ET Factory Orders
9/6 8:30 ET BLSBS

Key Economic Events Week of 8/26

8/26 8:30 ET Durable Goods
8/27 9:00 ET Case-Shiller Home Price Idx
8/27 10:00 ET Consumer Confidence
8/29 8:30 ET Q2 GDP 2nd guess
8/29 8:30 ET Advance Trade in Goods
8/30 8:30 ET Pers. Inc. and Cons. Spend.
8/30 8:30 ET Core Inflation
8/30 9:45 ET Chicago PMI

Key Economic Events Week of 8/19

8/21 10:00 ET Existing home sales
8/21 2:00 ET July FOMC minutes
8/22 9:45 ET Markit Manu and Svc PMIs
8/22 Jackson Holedown begins
8/23 10:00 ET Chief Goon Powell speaks

Key Economic Events Week of 8/12

8/13 8:30 ET Consumer Price Index
8/14 8:30 ET Retail Sales
8/14 8:30 ET Productivity & Labor Costs
8/14 8:30 ET Philly Fed
8/14 9:15 ET Ind Prod and Cap Ute
8/14 10:00 ET Business Inventories
8/15 8:30 ET Housing Starts & Bldg Permits

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