Cutting Vacation Short

Wed, Feb 20, 2013 - 10:04am

This is relentless and unforgiving...and I'm not talking about MrsF.

So bad that I'm cutting my mini-vacation short. I still don't have time for a full post so here are two items for you to read this morning.

ZH has been doing an excellent job chronicling the consistent, daily destruction. Here's the latest:

And here's someone who has noticed some of the same "anomolies" that I have:

The charts, of course, look terrible. Having failed at hoped-for support, silver looks like $28 and gold, if $1580 fails, looks headed all the way back to the bottom of the 18-month range, near $1550.

This is all highly unusual and indicative of extreme manipulation and panic-level positioning. At the risk of sounding trite and reading like another KWN pumper, I must say it: THIS WILL PASS. THESE EXTREMES WILL BE RESOLVED SOON AND NEW UPLEGS WILL BEGIN. PLEASE BE PATIENT. THE FUNDAMENTALS ARE STRONGER THAN EVER AND PHYSICAL REALITIES WILL SOON REPLACE PAPER SHENANIGANS AS THE DRIVING FORCE BEHIND PRICE.

More later if possible.


About the Author

turd [at] tfmetalsreport [dot] com ()


Feb 20, 2013 - 10:05pm

Mr Fix

So what did Daystar just post?

Mr. Fix
Feb 20, 2013 - 10:05pm

@ ag1969

If you go to the comments section on Harvey's blog,

he posted this afternoon that he was stuck at work with no Internet.

He would not be able to post untill 11 PM.

Other than that, I think he is fine.

I worry about him too.

Feb 20, 2013 - 10:00pm

@S Roche

Thanks for the response and explanation. Obviously someone with deep pockets would prefer to hold physical rather than the GLD paper.

Feb 20, 2013 - 9:59pm

Andrew Macguired!!!!! LMFAO!


Feb 20, 2013 - 9:55pm

I hope Harvey is OK

I have been reading Harvey a long time, and he is very careful about letting his readers know a day in advance if he is going to have a delay in posting the next day. I went back and read the end of last night and there was no such warning. With all of the takedowns of metals sites of late, it appears TPTB are trying to silence the truth tellers. Anyway, it is probably nothing, but I hope he didn't get Andrew Macguired.

Edit, well Daystar, I guess that answers that question.

WTF? When I got to Harvey's blog it is still saying Tuesday 2/19, I have refreshed it several times to no avail.

Feb 20, 2013 - 9:50pm

recent submissions

Wow. Interesting times. Lots of new posts and rebuttals. Been around for a while but seldom post. I'll try not to offend...

For the new posters that come out during significant downward price movements in paper metals...chill. We are all different. I have no issues with what you type/ask/propose but please understand that this site isn't about trying to convince folks of something, it's about preparing for the end of the keynesian experiment. Remember, there are lots of long term committed folks that aren't just a bunch of sheep blindly following someone's guidance. They are intelligent and truly appreciated for their contributions to this site and I applaud this! You know who you are. This isn't about the last day or week or month, it's about what may/will? be. Some have stronger convictions than others.

At the same time I do appreciate comments that keep me on my toes...and make me think about the big picture. The big picture is what this is about.

For the record...yes I see things going for a shit and once the PTB give up or some other catalyst kicks the big picture into gear prices for PM's will rise. However, nothing is 100% certain and so I am also hedged for that. Just seems like the right thing to do. I don't think I'm alone...I believe ( and maybe I'm wrong) that most are hedged-just in case-as well.

(Disclosure...I work for the gov and have typed WTF at an increasing rate!!) 7 years to go..

I guess my point is..thanks for making us think about what if IT doesn't happen but please allow us to carry on with what is likely to happen.

PS: Don't piss around with leverage. Either you have the $$ or you don't. THAT is huge.

PPS: Will NOT sell physical.



Feb 20, 2013 - 9:47pm

Yup......trolls are everywhere

even VictortheCleaner poked his head in.........if that's not a 'buy" signal........i don't know what is.

i'm one else picked up on that.....

and he's a real slimy know, the kind that's hard to get your hands around.....real slippery sumbitch...

Feb 20, 2013 - 9:47pm

Harvey's Up!

Ranting Andy: I'd rank Tuesday's smashdown the MOST EGREGIOUS CARTEL ATTACK OF MY ENTIRE "TEN YEARS (soon to be eleven) OF HEAVEN AND HELL." Not that it's the worst decline, in terms of scope (NOT EVEN CLOLSE); but by far, the most maniacal. In what I can only describe as the MOST HEINOUS CARTEL OFFENSIVE in the eleven years I have been in this sector. Even as gold backwardization nears; and the silver "basis" (futures minus spot) is nearing ZERO as far as five years into the future the PAPER PM attacks keep coming (I know they are PAPER-only because NO ONE is selling metal to Miles Franklin). Rick Rule: Some pundits are claiming jewelry sales will at as supply for the bullion market. If you think your wife’s ring is supply, ask her. You’ll find out it isn’t. All this and more on...

The Harvey Report!


Feb 20, 2013 - 9:46pm

About AGE and ASE...

I don't post much, just doing the same, as I wrote before... 1/3 in junior oil drillers (doing very well so far), 1/3 in miners (not really something to write home about), some specs, cash, but as for physical, I don't really know. I guess, I am getting older...

I follow prices in the Central Europe, particularly in Prague. I live there, too, some 3-5 months per year. The major dealer is selling AGE and ASE for these prices, updated today, February 20, 2013:

AGE = $1,846.39

ASE = $55.31 (including VAT).

It seems to me that buying AGE and ASE here, right now, is not such a bad idea.

Feb 20, 2013 - 9:46pm

It's time the Gold & Silver

It's time the Gold & Silver markets turn to the East for fair value.

The criminals in the West who are running the trading systems and lying about the actual gold in their vaults need to be confronted.

Only fools will trade in this entirely rigged market, as also on Wall Street.

The gold and silver markets are being rigged to take away your wealth , while Wall Street is slated to make a clean slate of all your investments and your pensions.

It is so funny- QE talk ( of stopping) by the Fed minutes has an effect on PM's and no effect on Wall Street !!!

The end game cannot be far away.

Subscribe or login to read all comments.


Donate Shop

Get Your Subscriber Benefits

Private iTunes feed for all TF Metals Report podcasts, and access to Vault member forum discussions!

Key Economic Events Week of 7/6

7/6 9:45 ET Markit Service PMI
7/6 10:00 ET ISM Service PMI
7/7 10:00 ET Job openings
7/9 8:30 ET Initial jobless claims
7/9 10:00 ET Wholesale inventories
7/10 8:30 ET PPI for June

Key Economic Events Week of 6/29

6/30 9:00 ET Case-Shiller home prices
6/30 9:45 ET Chicago PMI
6/30 10:00 ET Consumer Confidence
6/30 12:30 ET CGP and SSHW to Capitol Hill
7/1 8:15 ET ADP Employment
7/1 9:45 ET Markit Manu PMI
7/1 10:00 ET ISM Manu PMI
7/1 2:00 ET June FOMC minutes
7/2 8:30 ET BLSBS
7/2 10:00 ET Factory Orders

Key Economic Events Week of 6/22

6/22 8:30 ET Chicago Fed
6/22 10:00 ET Existing home sales
6/23 9:45 ET Markit flash PMIs for June
6/23 10:00 ET New home sales
6/25 8:30 ET Q1 GDP final guess
6/25 8:30 ET Durable Goods
6/26 8:30 ET Pers Inc and Spending
6/26 8:30 ET Core inflation

Key Economic Events Week of 6/15

6/16 8:30 ET Retail Sales
6/16 8:30 ET Cap Ute and Ind Prod
6/16 10:00 ET Chief Goon Powell US Senate
6/16 4:00 pm ET Goon Chlamydia speech
6/17 8:30 ET Housing Starts
6/17 12:00 ET Chief Goon Powell US House
6/18 8:30 ET Initial Jobless Claims
6/18 8:30 ET Philly Fed
6/19 8:30 ET Current Account Deficit
6/19 1:00 pm ET CGP and Mester conference

Key Economic Events Week of 6/8

6/9 10:00 ET Job openings
6/9 10:00 ET Wholesale inventories
6/10 8:30 ET CPI for May
6/10 2:00 ET FOMC Fedlines
6/10 2:30 ET CGP presser
6/11 8:30 ET Initial jobless claims
6/11 8:30 ET PPI for May
6/12 8:30 ET Import price index
6/12 10:00 ET Consumer sentiment

Key Economic Events Week of 5/25

5/26 8:30 ET Chicago Fed
5/26 10:00 ET Consumer Confidence
5/27 2:00 ET Fed Beige Book
5/28 8:30 ET Q2 GDP 2nd guess
5/28 8:30 ET Durable Goods
5/29 8:30 ET Pers Inc and Cons Spend
5/29 8:30 ET Core Inflation
5/29 9:45 ET Chicago PMI

Key Economic Events Week of 5/18

5/18 2:00 ET Goon Bostic speech
5/19 8:30 ET Housing starts
5/19 10:00 ET CGP and Mnuchin US Senate
5/20 10:00 ET Goon Bullard speech
5/20 2:00 ET April FOMC minutes
5/21 8:30 ET Philly Fed
5/21 9:45 ET Markit flash PMIs for May
5/21 10:00 ET Goon Williams speech
5/21 1:00 ET Goon Chlamydia speech
5/21 2:30 ET Chief Goon Powell speech

Key Economic Events Week of 5/11

5/11 12:00 ET Goon Bostic speech
5/11 12:30 ET Goon Evans speech
5/12 8:30 ET CPI
5/12 9:00 ET Goon Kashnkari speech
5/12 10:00 ET Goon Quarles speech
5/12 10:00 ET Goon Harker speech
5/12 5:00 ET Goon Mester speech
5/13 8:30 ET PPI
5/13 9:00 ET Chief Goon Powell speech
5/14 8:30 ET Initial jobless claims and import prices
5/14 1:00 ET Another Goon Kashnkari speech
5/14 6:00 ET Goon Kaplan speech
5/15 8:30 ET Retail Sales and Empire State index
5/15 9:15 ET Cap Ute and Ind Prod
5/15 10:00 ET Business Inventories

Key Economic Events Week of 5/4

5/4 10:00 ET Factory Orders
5/5 8:30 ET US Trade Deficit
5/5 9:45 ET Markit Service PMI
5/5 10:00 ET ISM Sevrice PMI
5/6 8:15 ET ADP jobs report
5/7 8:30 ET Productivity
5/8 8:30 ET BLSBS
5/8 10:00 ET Wholesale Inventories

Key Economic Events Week of 4/27

4/28 8:30 ET Advance trade in goods
4/28 9:00 ET Case-Shiller home prices
4/29 8:30 ET Q1 GDP first guess
4/29 2:00 ET FOMC Fedlines
4/29 2:30 ET CGP presser
4/30 8:30 ET Pers Inc and Cons Spend
4/30 9:45 ET Chicago PMI
5/1 9:45 ET Markit Manu PMI
5/1 10:00 ET ISM Manu PMI

Forum Discussion

by SteveW, Jul 11, 2020 - 6:36pm
by SteveW, Jul 11, 2020 - 6:25pm
by TexasTonto, Jul 11, 2020 - 5:19pm
by ja1920voo, Jul 11, 2020 - 11:37am
by tork311, Jul 10, 2020 - 3:17pm