Cutting Vacation Short

548
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: https://www.zerohedge.com/news/2013-02-20/precious-metals-morning-slam-right-schedule

And here's someone who has noticed some of the same "anomolies" that I have: https://www.zerohedge.com/contributed/2013-02-20/curious-case-falling-gold-and-silver-prices

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.

TF

About the Author

Founder
turd [at] tfmetalsreport [dot] com ()

  548 Comments

  Refresh
maravich44SilverLeaf
Feb 21, 2013 - 5:22am
Erewhon888Puck Smith
Feb 21, 2013 - 4:39am

@ Puck T Smith re Ivar's assertion re credit/debt/barter/gold

You asked for a reference. The answer would be David Graeber's book titled "Debt" which is an anthropologist's take on monetary economics that rejects the usual economist "barter - commodity - gold" transition. Well worth having on your bookshelf.

Just A Regular Guy
Feb 21, 2013 - 4:13am
koan
Feb 21, 2013 - 3:54am

Turd/JustAnotherLurker -

Turd/JustAnotherLurker - where did you get the first chart in https://www.tfmetalsreport.com/blog/4457/surviving-gold-opex ?

Would be interested to see March's, worked as an indicator of the range they were gunning for last time I believe...the eternal optimist in me looking at this maybe being the end, or at least the brunt of, if they've reached down as far as is profitable for them...

That_1_Guy
Feb 21, 2013 - 3:29am

food for thought

I was watching this as I went to bed...... Hope you like it. My girl doesnt.

Stories from the Great Depression

GUY

Chibster
Feb 21, 2013 - 3:23am

Still seeing flat part of graph

I whole heartedly know deep in my heart with 103% certainty that the price of gold, and silver especially, are still in the "flat" part of the graph. The mania phase will make today's volatility insignificant and negligible.

The plan is eventually the coin shops, pawn shops ...cash for gold scavengers etc. will beg and pay *me* the the damn premium of fiat Chuck-E-Cheeze game tokens so I can play the bankster denominated games with all the massive amounts fiat toilet paper it will take to convince me to sell my precious silver dime.

I can even foresee me even paying a Walmart cashier in silver coin and she/ he would scramble to pay it with her own fiat out of her own pocket so she can keep and take the precious silver dime home to her family hyperinflation proof!

Think about it. Why pay hundreds of dollars for,say, a tube of toothpaste or for a hamburger when it only costs one damn silver dime? Now that's what I'm talking 'bout folks!

Horst
Feb 21, 2013 - 3:05am

P.S. Turd's mention of KWN

P.S. Turd's mention of KWN reminded me that I haven't visited that hell-hole of a site in the past 90 days, and it's been the best 90 days of my life. What a waste of time.

Fuck you. Eric King isn't a bandwagon hopper and he does not do this for money. He ran his site a long time for free, never opened his site to ads, and about the sponsoring from mining companies, you can say that you'd wanna buy those anyway because they're companies with great value. KWN doesn't even accept donations from its audience. They say no to your money if you offer it!

That all in great contrast to a site called TFMetals, which is fucking loaded with ads, has a store, asks for donations regularly, and only came into existence in the first place during the metals rally following QE2, fed off the mania that existed for a couple of months back then, made a few lucky calls, and never really had anything to offer besides that.

It has the gold and silver price conveniently displayed on the right frame, which is the main reason why I visit. Some of Turd's interviews are worth listening to, and sometimes there are good links posted. And KWN is a little perma-bullish, which may be annoying to some. But, KWN is the original PM interview site, everyone else copied Eric King, and he deserves the praise for what he started, noone else. And he still has the best guests and the best interviews and that makes the site invaluable and must-read for anyone serious about investing in PMs. Don't crap on KWN, especially not on a (comparatively, and literally) Turd of a website like this. Just don't.

shothat
Feb 21, 2013 - 2:48am

re: Gold fishing in France

Imagin the toilet it would take to flush that bad boy down...

shothat
Feb 21, 2013 - 2:48am

re: Gold fishing in France

Imagin the toilet it would take to flush that bad boy down...

Magpie
Feb 21, 2013 - 2:08am

Subscribe or login to read all comments.

Contribute

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