The Sunday Evening Post

Sun, Jan 20, 2013 - 9:31pm

Since Monday is a U.S. market holiday, I'm hoping to sleep in. To put my mind at ease, I thought I should take the unusual step of typing up this Sunday evening post.

The challenging part of posts like this is figuring out where to start and how to put it together in some type of logical structure. Hmmmm. Well, I...Uhhhh... Aw, screw it.

Let's start with the two videos. First, here's a short one from CNBC where the "talent" discusses the German Gold Hijinx and actually questions whether or not "the gold is actually there". Holy cow! Talk like this must drive the paper bugs crazy.

A more coherent and helpful video on the topic comes to us from the inimitable Max Keiser. (Gee, I wonder if he'd have me on if I ever make it over to London? That sounds like fun!) In this episode, Max and Stacy discuss The Hijinx as well as a number of other issues near and dear to the hearts of Turdville.

Keiser Report: Welcome Home German Gold (E395)

Our old pal, Trader Dan, has become a regular contributor over at KWN and, in this latest installment, he discusses the silver market and the short term likelihood of this rally extending UP toward $34 and beyond. You'll definitely want to read this:

And here's something that I've been bitching about forever...The Globex. Simply put, it has become nearly criminal that "electronic trading" is permitted during times of non-existent, global liquidity. If I had my way, I'd eliminate this 24-our trading nonsense as it clearly gives an unfair advantage to the manipulators, who care very little about price and execution.

For fun(?), here's a sample of something I wrote over two years ago, on the afternoon of a particularly nasty and unfair Globex raid.

I bring this up now because of what I saw last week. On Tuesday, Thursday and Friday, it was quite clear that some variation of the same HFT algo was running down the price of gold on the Globex. Without this intervention, gold might have been as much as $20 higher at week's end. Little-by-little, drip-by-drip, the "managed ascent" continues. All the while, the little guy who is simply interested in financial protection, gets screwed and robbed.

You may recall that last month Paul Coghlan hosted a free webinar to tout his charting services and the entire Coghlan Capital site. It was so well-attended and well-received hat he has decided to do another. It is scheduled for this coming Wednesday and you can register by clicking this link:

And then there's this article that I found at ZH. The author claims that high margins are killing silver. That's interesting, I suppose, though open interest totals don't necessarily bear that out. I mean, they sort of do. If you go back to the heady days of spring 2011, the total open interest was about what it is now. What's slightly different is the Large Spec category. On 2/22/11 for instance, the Large Specs were long 51,000, short 11,700 and spreading 26,430. As of last week, they were long 38,000, short 9,000 and spreading 29,000. So, I don't know if this article is overly helpful but here it is anyway:

The topic of open interest leads me to last week's CoT. I'll spare you all the usual gory details and simply highlight this: The Silver Commercial gross long position continues to grow, up another 1,360 just last week. As has been the trend, this commercial buying interest is prohibiting JPM from covering at their usual pace and is a clear "civil war" within The Cartel. Looking for a bullish signal? Chew on this: The current Commercial gross long position is 46,337. This is the highest it has been since the 47,797 we saw on....8/14/12...right before price exploded from $28 to $36 over the next 6 weeks.

Lastly, here are some charts for you to consider as we get ready for another week.

OK, I'll think I'll stop there because, if I do, I'll be able to catch the end of the NE-Baltimore game. If you're wondering why I've been typing instead of watching...let's just say that having San Francisco win by 4 instead of 5 sort put my fire out, if you get my drift.

Anyway, have a great Monday and get ready for the rest of the week. It should be pretty wild and crazy.


About the Author

turd [at] tfmetalsreport [dot] com ()


Fr. Bill
Jan 20, 2013 - 9:33pm

Finally a first!

... But I've no time this evening to provide a celebratory limmerick!

Instead I'm watching Baltimore pound on the Patriots in their home stadium.


Jan 20, 2013 - 9:35pm

Top 10?

Why not.


Jan 20, 2013 - 9:35pm



Jan 20, 2013 - 9:43pm


I had ATL by 3!

Jan 20, 2013 - 9:45pm



Mr. Fix
Jan 20, 2013 - 9:47pm

Now that I've managed to say hi to everyone .

It's a quiet Sunday night, while I continue to learn as much as I can,

I am currently listening to James Turk with The Anarchast.

When I am done,

I'll reflect on what I have learned today.

Thank you for this website,

it helps to keep me sane in trying times.

Jan 20, 2013 - 9:48pm

May the Phyz be with you

In Phyz we trust

Jan 20, 2013 - 9:53pm

The Market Is Up

Looks to me like they are going to remove the available retail gold and silver before they crash the system so most folks will be trapped and no place to go.


El Gordo
Jan 20, 2013 - 9:54pm

Carpe Diem

Let's go, it's a new week already.

Jan 20, 2013 - 9:55pm

The Harbaugh Bowl. I'd love

The Harbaugh Bowl. I'd love to be a fly on the wall at that family's dinner tonight. Go Kap!

Jan 20, 2013 - 10:00pm


I'll post it here, because I think it's important.


Eeeeek! Mr Fix.

"I was once again confronted with his disdain for Thatcher and Reagan.

I have a serious mental block when it comes to those two.

I've always viewed them as a couple of the “good guys”."

I can't speak for Reagan, but Thatcher (a puppet, not to point the finger) was the mouthpiece the started the handing-over of the UK's energy-producing companies and put it into private hands.

Oh, it was done because it was said it would promote genuine competition and keep prices competitive.

All bullshit. They've put prices up and up and up ever since the handover, and this has accelerated massively, particularly in the last 10 years.

The Thatcher era was the start. In the UK now the majority are suffering from what the gov't at that time did - by handing over the wealth of the country, by putting it into private hands.

Total privatisation leads to plutocracy. That's where we are now.

Mission accomplished.

Thatcher was never one of the "good guys". She was used, as are all politicians, to further the takeover by those behind the scenes.

Jan 20, 2013 - 10:13pm

Significant Thought Evidently of No Interest Here

Phil Mickelson. It is something he said today.

Jan 20, 2013 - 10:44pm

Figurehead MY ASS!

Queen and Prince Charles had veto over 39 bills: Documents

Last Updated: Tuesday, January 15, 2013, 19:50

London: Queen Elizabeth II and Prince Charles have had numerous opportunities to torpedo bills that could change their powers, including a law that would have given parliament sole authority to sanction strikes on Iraq during the 1999 war, Cabinet documents show.

Queen Elizabeth II and Prince Charles have been asked to consent at least 39 laws, some of which they have vetoed, according to the documents.

Ministers and Whitehall mandarins must ask the senior Royals to approve or veto legislation across most areas of government if it may impact on their interests, like the Crown estate and the Prince's Duchy of Cornwall estate.

The Queen's veto blocked the Military Actions Against Iraq Bill in 1999, a backbench bill making it necessary that Parliament must first give consent before Tony Blair's government could launch air strikes against Saddam Hussein's Iraq.

It was put forward by anti-war Labour MP Tam Dalyell but it failed as it did not receive the Royal Assent.

Dalyell said at the time: "I am not going crawling to the Queen. This has nothing to do with her".

The Palace was also asked to agree bills linked to higher education, paternity pay, identity cards and child maintenance.

The Whitehall legal pamphlet containing the information admits that if they do not give consent: "a major plank of the bill must be removed".

The senior Royals are asked about legislation from Westminster that might have an impact on their own interests or estates.

The Palace said today that Royals only use their veto if they are advised to by cabinet members or civil servants.

But critics say it shows the amount of power in the monarchy's hands. Prince Charles has been criticised in the past for the number of letters he has written to ministers giving his views on policies.

The Queen's Duchy of Lancaster estate, which includes 19,000 hectares of land and 10 castles, pays for running Sandringham and Balmoral.

Prince Charles's Duchy of Cornwall brings in 18 million pounds a year. A Buckingham Palace spokeswoman said: "It is a long established convention that the Queen is asked by parliament to provide consent to those bills which parliament has decided would affect crown interests".

"The sovereign has not refused to consent to any bill affecting crown interests unless advised to do so by ministers" she said.

A spokesman for Prince Charles at Clarence House added: "In modern times, the Prince of Wales has never refused to consent to any bill affecting Duchy of Cornwall interests, unless advised to do so by ministers. Every instance of the Prince's consent having been sought and given to legislation is a matter of public record."


This article allows question of the Royal Families ability to veto Commonwealth nations parliamentary bills as well.

Jan 20, 2013 - 10:51pm

you're a dgenerate gambler Turd.....

Always chasing the dream.... Lol. We get Harbaugh v Harbaugh. I want to see the parent interview.....

Jan 20, 2013 - 10:52pm

China does indeed hold Aces

And when China is ready, I have no doubt they will make their gold stack verifiable, possibly at 3 or 4 heavily fortified and guarded deep bunker locations. Will any Western power ever be able to do the same without total political and financial reform? Germany, at this point, certainly can't. Their 7 year partial gold repatriation plan is an admission of Western gold insolvency. Add the unknowns of the complex shadow banking system / hundreds of trillions of non-asset backed derivatives, CB printing, mammoth expanding sovereign spending / debts, open lawlessness at the highest levels... that's a massive amount of highly unstable nitroglycerin. The majority of you realize things are out of freaking control. DHS's ordering of 1.6 billion hollow point bullets tells me the Western PTB are scared lunatics. Conversely there's China, what an incredible juggernaut it's been. I've spent quite a bit of time there since 2007, for both business and pleasure. In exploring 7 major cities and quite a few out of the way destinations it amazes me the growth and modernization witnessed in those 5 years alone. Those articles at ZH about ghost cities, etc... ignore that noise. To be sure there are obstacles to overcome, such as air pollution, but China won't be denied. Research the SCO (Shanghai Cooperation Organization - headquartered in Beijing), they have partnered up with Russia, India, and others in that region. While in Shanghai I had a few dates with an investment manager, her father is retired Chinese military, fairly high up. We talked candidly about many subjects, and my impression is China is extremely confident about its future, but not arrogant. Their government makes plans and implements them without fucking around. DHS's 1.6 billion hollow points and a growing percentage of preppers says the US vision is anything but confident. If we eventually rebound I see it more localized, perhaps even a break-up of the US into economic zones. Cycles are unavoidable, the poetry of life is composed of them on both personal and global levels. A word on hospitality, the Chinese are second to none, and if you ever decide to visit, take time to learn and attempt some Mandarin, they truly appreciate it. PS ~ with the Chinese government suggesting their citizens invest in BOTH gold and silver, do you think they would later pull the rug out from underneath those who'd bought silver? Don't think so, the last thing Beijing wants is a pissed off populace. Silverbugz relax.

Jan 20, 2013 - 11:07pm

Bare bones. I think whenever

Bare bones. I think whenever someone talks about the manipulation of silver they are unknowingly talking about the use of the Dollar to perform the manipulation so when they want to end the manipulation of the price of silver what they are actually talking about is the end of the current incarnation of the Dollar and when the current incarnation of the Dollar ends something else will begin. I want to know what the something else is.

foggyroad: "Unfortunately the USD is probably backed by, at least some of the same Gold... and they got a bigger stick! Possession is nine tenths of the law." Really? This is your answer to the question of what backs the Euro? What happens if Germany doesn't get it's gold back? What happens if the Fed doesn't give Germany their gold back? So what. The Bundesbank's overall reserves of 3,400 tons are worth about $100 billion at current market rates. What would happen if Germany just said, 'Ok, here's $100 billion Euro. Who has gold?' Do you think Germany could buy $100 billion of gold on the open market?

Mr. Fix: "Just stopping inflation by itself would go a long way towards solving our current problems. This will require honest money. This doesn't necessarily mean that it has to be a gold standard, but we do need to completely eliminate a politician's ability to print as much as he wants to. This needs to be made physically impossible, since to simply do it in a legal sense, has no meaning whatsoever to a politician that could change the law any sign he so chooses."

philipat: If you have thought about all currencies depreciating against each other, together, then have you thought about what it will do to the Central Bank balance sheets of the world as the dollar devalues since the dollar is the World Reserve Currency of the Central Banks of the world. A lower Dollar sounds great in a closed system but the Treasuries the Dollar represents back the Central Banks so at some point in time the value of the paper in the Central Banks will not be able to support their currencies. Cascade begins. So, it is impossible for all currencies to depreciate together.

Jan 20, 2013 - 11:08pm

The American Empire is

The American Empire is nearing its End ~ Chalmers Johnson

Chalmers Johnson argues that the age of the "American Empire" is nearing its end. Author of Blowback, The Sorrows of Empire, and Nemesis: The Last Days of the American Republic, Chalmers Johnson has literally written the book on the concept of American hegemony. A former naval officer and consultant to the C.I.A., he now serves as professor emeritus of UC San Diego. As co-founder and president of the Japan Policy Research Institute, Mr. Johnson also continues to promote public education about Asia's role in the international community. In this exclusive interview, you will find out why the practice of empire building is, by no means, a thing of the past. As the United States continues to expand its military force around the globe, the consequences are being suffered by each and every one of us.Chalmers Johnson, author of Blowback, Sorrows of Empire and Nemesis: The Last Days of the American Republic , talks about the similarities in the decline of the Roman and Soviet empires and the signs that the U.S. empire is exhibiting the same symptoms: overextension, corruption and the inability to reform. Chalmers Johnson is president of the Japan Policy Research Institute, a non-profit research and public affairs organization devoted to public education concerning Japan and international relations in the Pacific

Jan 20, 2013 - 11:09pm

sorry: the above should have

sorry: the above should have said, "the 1500 tons held in the US are worth about $100 billion"

silver66 Biochar
Jan 20, 2013 - 11:11pm

Biochar re: China

Nice post, I had posted an e-mail from a friend about SCO last week

My experience in China was very similar to yours

Keep posting


Jan 20, 2013 - 11:13pm

Obama, Circa 1990s: ‘I Don’t

Obama, Circa 1990s: ‘I Don’t Believe People Should Be Able to Own Guns’

from AmmoLand:

During the 2008 presidential campaign, gun rights author and scholar John Lott recounted meeting Barack Obama for the first time while he was a lecturer at University of Chicago.

When the two met, Lott’s reputation on guns preceded him, and Lott claims Obama said, “I don’t believe people should be able to own guns.”

Read that again, and let it soak in; Barack Obama reportedly said, “I don’t think people should be able to own guns.” In my correspondence with Lott, he stood by his story.

And there’s little reason to doubt Lott’s account, especially when you take Obama’s history of anti-gun legislation into account.

Jan 20, 2013 - 11:13pm
Jan 20, 2013 - 11:15pm

U.N. Agenda 21: The Plan to

U.N. Agenda 21: The Plan to Destroy the Middle Class (pt.1)

from ResistNWOrder:

Scientist and ecologist Dr. Michael Coffman, Tom DeWeese of the American Policy Center, and Karen Schoen of the Save America Foundation. They discuss the background of Agenda 21, how it is being implemented and how it will remove individual property rights and turn people into economic slaves to the state.

To find hear the rest of the interview, click HERE.

57Goldtop lakedweller2
Jan 20, 2013 - 11:15pm


It is interesting that Phil Mickelson is upset about taxes, so I read the story.

It indicates that the PGA Tour players have no limit to the amount of tax-deferred income they can add to their plan each year, which I believe I was able to verify. Assuming that's the case, then I'll file it under Ignore with most of the other things I've heard him say.

The Tour players have a monumental taxation advantage over the rest of America. Phil might be better served by putting that shit eating grin back on his face and playing golf while quietly moving (if that's his wish).

Jan 20, 2013 - 11:16pm

"...All the while, the little

"...All the while, the little guy who is simply interested in financial protection, gets screwed and robbed..."

I used to think that too. While it's partially true, another way to look at is is that the little guy gets more valuable time to buy physical silver and gold at firesale prices before the endgame starts. And day by day, more and more of the sheeple wake up and start to stack, happy that the train hasn't yet left the station.

Pay me now, or pay me later. It doesn't much matter. We all know how this ends, so treat this extra time as a blessing to prepare and to buy even greater amounts of protection for yourselves. Maintain the proper perspective, and don't be troubled by the spot price: I'll happily keep trading my increasingly worthless US dollars for silver at 1/10th of it's true unsuppressed value and gold at 1/6th of it's true unsuppressed value until the cartel knocks this price manipulation shit off.

Jan 20, 2013 - 11:31pm

OK Bollocks, that's it...

...we're sending him back. Do what you will with him

And we'll keep this guy

Tiananmen square activist turned American citizen demonstrates for the second amendment
Jan 20, 2013 - 11:45pm

Guest Post:Gregor Macdonald:

Guest Post:Gregor Macdonald: What The End Of Cheap Oil Means

Submitted by Tyler Durden on 01/20/2013 - 21:54

For much of the twentieth century, the developed world saw a steady march upwards in wages and living standards, due primarily to huge quantities of cheap, high-yielding liquid hydrocarbon. As we find ourselves bumping along the plateau of Peak Oil's apex, suddenly we find that "growth" is a lot harder to come by. Of course, if you follow the news today, this is not the story you are hearing. Talk of an energy bonanza and imminent energy independence (in the U.S.) are everywhere, thanks to gas fracking and tight oil production. What is missing from the headlines is the cost side of the equation and a blindness towards future demand. McDonald begins: "I think the main conversation we are not having is that wages are very unlikely to ever return to a relationship to energy costs that would make the United States economy into a happy economic story once again."

Jan 20, 2013 - 11:49pm

An Inside Look at the Rapidly Escalating Physical Silver Shortage Via SDBullion

On Thursday, we alerted SD readers to the fact that the US Mint had sold out of Silver Eagles, selling over 6 million ounces over the first 9 days of sales in 2013, and was shutting down sales and production of Silver Eagles through at least 1/28, and would ration sales of eagles upon resumption of sales.

With a rapidly growing presence in the retail gold and silver market via SDBullion, we have had a unique perspective of the escalating physical silver shortage, and would like to give our readers an inside glimpse of the time-line of events evidencing a growing shortage of physical silver.

Urban Roman Bollocks
Jan 20, 2013 - 11:49pm


You're soaking in it.

Mr. Fix, I'd like to express my appreciation for your thought process. In fact, both the "Red Team" and the "Blue Team" have their mythologies. It is worthwhile to at least attempt to rise above that rather artificial divide.

For example the Red Team believes that "privatization" (or "privatisation" to you, Bollocks) is a superior way to get things done. So choke off public funds for the post office, and railroads, and stop maintaining the highway system, right? Because if they were worth doing they would run at a profit. The Red Team thinks NPR and PBS are evil, because they do not follow proper Red Team orthodoxy, and they do not run gigantic profits. The Red Team blames "environmentalists" for the obvious industrial decline of the USA and believes Global Warming is a Communist plot. (never mind that Reagan really got the offshoring of our industrial base going)

The Blue Team, on the other hand, thinks that everyone should be equal. At its logical conclusion, if you are down to just a brain in a pickle jar, you should have your own bathroom in any public venue. You can save the polar bear by driving a Prius. And so forth; there's an almost endless list of such Blue Team silliness.

Meanwhile, BOTH teams have been increasing the centralization of financial and political power, and revoking local control and individual freedoms. They have been co-operating in this effort. It's like a street magician: "hey, look over here!", while he's stealing your wallet with the other hand.

I do not wish for civilization to crash; but it is 99.9% inevitable at this point. I wish I were better prepared for it, myself.

Jan 20, 2013 - 11:59pm

Thanks for posting

Everyone should read the inside skinny from The Doc. They're honest guys so I trust them as a source.

Jan 21, 2013 - 12:00am


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Key Economic Events Week of 5/13

TWELVE Goon speeches through the week
5/14 8:30 ET Import Price Index
5/15 8:30 ET Retail Sales and Empire State Manu. Idx.
5/15 9:15 ET Cap. Ute. and Ind. Prod.
5/15 10:00 ET Business Inventories
5/16 10:00 ET Housing Starts and Philly Fed
5/17 10:00 ET Consumer Sentiment

Key Economic Events Week of 5/6

5/9 8:30 ET US Trade Deficit
5/9 8:30 ET Producer Price Index (PPI)
5/9 10:00 ET Wholesale Inventories
5/10 8:30 ET Consumer Price Index (CPI)

Key Economic Events Week of 4/29

4/29 8:30 ET Pers Inc, Cons Spend, Core Infl
4/30 8:30 ET Employment Costs
4/30 9:45 ET Chicago PMI
5/1 8:15 ET ADP jobs report
5/1 9:45 & 10:00 ET Markit and ISM Manu PMIs
5/1 10:00 ET Construction Spending
5/1 2:00 ET FOMC Fedlines
5/1 2:30 ET CGP presser
5/2 8:30 ET Productivity and Unit Labor Costs
5/2 10:00 ET Factory Orders
5/3 8:30 ET BLSBS
5/3 9:45 & 10:00 ET Markit and ISMServices PMIs

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