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 ()


Prize Fighter
Feb 20, 2013 - 3:44pm

Just got back from the LCS. 

Just got back from the LCS. What did I miss? It wasn't $28.40 silver that's for sure. Cha ching.

Feb 20, 2013 - 3:45pm


Here you go:

Feb 20, 2013 - 3:46pm


Whenever I see one of those 100oz bars I always remember failing to pull the trigger multiple times when it was $1250.00. I still don't own one today, but I bought the 100 SAE's at the time for $15 so I am not complaining. I have a friend who bought one for $1200 around that time and I offer to buy it for $1200 every time I see him.

Feb 20, 2013 - 3:47pm
Sad-descent Bollocks
Feb 20, 2013 - 3:49pm


Thanks I needed that.

Feb 20, 2013 - 3:50pm

Somehow people seem to be

Somehow people seem to be confused that other people don't like being spat upon and being told that they have been "wrong for two years", especially when many of us have been right for a long time before that. Also, collectivism gets you blocked by me. There is no-one on this site that is like me, and I am not like anyone else here. That goes for most people. I disagree with Turd quite often, even saying that he is wrong on occassion, but I don't scream and shout at him and the rest of the community like a TROLL.

That is the difference, now GTFO.

Feb 20, 2013 - 3:50pm

This is so goddamn

This is so goddamn depressing.

Feb 20, 2013 - 3:51pm

Bix's $100 dollar bills

are still FRN's

Feb 20, 2013 - 3:54pm

No child left behind

Somehow we are the proud beneficiaries of " The No Child Left Behind" program. @Proton777 is living proof of what a waste of $ that program really was. Since grade school was challenging for you and high-school was spent with a helmet on maybe troll school would be the ticket. Back to the drawing board. Phyzz metals a bad idea ? Really ?

Maybe some day when the light bulb goes off you will graduate and then maybe, just maybe, you will be able to retire your Velcro shoes and move up to something a little more challenging like laces.

Feb 20, 2013 - 3:54pm


Thanks man, I appreciate the response...but unfortunately, I didn't have time today to go home from work and snatch up an oz of gold to trade in.

And WTF? I swear I must have a freakin' Gooberment phyzz-drone following me around whenever I buy silver, because every freakin' time I do the price drops lower! You're all welcome for that! haha

Saturday I picked up 4 ounces for 31/each and this week it gets hammered. So today at lunch I ran over to the LCS and got 4 more oz's for 29.75 real quick, but guess what?? It just happened to be right before 2pm and look what happened at 2pm! LOL Looks like it dropped nearly .50!

Well, that's okay Mr. Gooberment-JPM-phyzz-drone...I don't mind...swing away ya F'ers! I'll just keep on ridin' the wave down dip after dip and will ride it back up again on the flip side as well when the time comes.

I'm going to be carrying that gold Buffalo in my pocket the rest of the week though watching things and that GSR...if they hammer it again anytime before the end of the week I'm going to be ready for it. And if they don't and I don't think it's the right time then I'll just hold on to the little beauty. No biggee either way really. At least I still hold it and that means I own it!

No matter what though, the paper prices don't matter...the actual phyzz value will always end up higher and higher in the long run. I'm not in any hurry. Lotsa stackin' to do still...lotsa stackin'...

Thanks Turd for all you do! Keep kickin' ass man! Nice hat!

Feb 20, 2013 - 3:55pm

Important chart

Daily Sentiment Index on gold back at the all time low as of Friday – 5% bulls left.

foggyroad FriedEggs
Feb 20, 2013 - 3:55pm

Nice to see you Fried

Good comment.

Feb 20, 2013 - 3:56pm

Questions about the FED Minutes

Well I just sort of skimmed through the FED's minutes.

Here are some thoughts:

Other than inferring from the long list of meeting attendees before the even longer spout of blather above, how is the FED helping to keep people employed?

- Are they encouraging a rollback in taxes so that employers can make money?
- Is the FED pressing the EPA to reduce the overbearing regulations which are strangling Manufacturing in the US?
- Can they do anything to improve sales at Wal-Mart?
- Are they indeed enabling price stability…is this what you see every time you fill your gas tank or buy groceries?

Does it explain in the FED minutes just how the FED is helping America?

Feb 20, 2013 - 3:59pm

My view is that proton

My view is that proton, magic cereal, and that lickspital dude are actually all the same person, posting the same tripe under different nicks.

Also, I am pretty sure that person looks like this:

It's just a theory...

Feb 20, 2013 - 4:00pm


Tell us your definition of the truth and what flavor your Kool Aid is, as you put it.

I always find it interesting/annoying on some level when grinning bears seek out this site (or any other) on down days and seek to enlighten us with their version of the truth. What is the truth?

Please inform us what you know with certainty at this moment and where the PM's head from here.

edit: nice to see the bleeding slow down at the close.

Feb 20, 2013 - 4:02pm


Lol...maybe it's me but I see a little Bernanke mixed in there.

Feb 20, 2013 - 4:03pm

useless comment by me

It is real fun reading all the comments that predict gloom and doom for the metals and this whole excitement of what is going on in the markets today and where we go from now on and where is the bottom and who where what . If you guys are in for the short run trying to make a quick buck , well in this case you are bloody mistaken folks . In fact nothing really happened today by my standards - we are still in the tight little range but really close to the bottom . Soon though the direction will reverse and we will touch the top again and one day , nobody knows when we will break this narrow channel and we will go higher . Simple as that .

Feb 20, 2013 - 4:03pm


The poor HUI is just getting destroyed today !

Feb 20, 2013 - 4:04pm

Reason for silver takedown . . .

My thought is it's the Mar13 OI in silver. As of last night, Harvey reported over 50,000 silver contracts still open. Even after smashes everyday for a week, the total OI rose!

If half of the 50,000 stand, that is 125,000,000 ounces. the next 5 business days will be fun to watch.

Feb 20, 2013 - 4:05pm

$Vix bet

Anybody notice the vix today? Wow....

Feb 20, 2013 - 4:06pm

You have now entered the Twilight Zone....

Remember Rod Sterling?

do you think the scum bags covered a few shorts that they were getting buried with?

This too will pass, the nonsense that the Fed will stop QE is just, yes Bernanke entered the Twilight Zone..

You watch how this all turns around very soon.

Feb 20, 2013 - 4:06pm


you go to MSNBC and all you get is those commies patting themselves on their backs.

you go to charles krauthammer on real clear politics and the majority of the comments are commies calling him an idiot.

volatile gold goes down and the paperbugs come out of the woodwork, like they have never seen gold imposed over the DOW chart.

i go to the paperbug sites and there are no goldbugs hammering on the fiatbugs.

the commies that believe in the state controlling everything presciently just can't f'ing stand anyone else with the reverse opinion.

trolls just like to F with people, thats all.

they are just looking for a pissing contest.

ancientmoney Pining 4 the Fjords
Feb 20, 2013 - 4:06pm

@Pining 4 . . .

You must be the same photoshopper who did the work on Adam Lanza . . . just about the same quality result!

Feb 20, 2013 - 4:07pm

I don't get this stock

I don't get this stock holders were right nonsense. I'm buying on sale on the way down and I'll be right later. What's the difference?

Feb 20, 2013 - 4:07pm

I love that Ignore Button

Great feature ,TF

Pivvfftt gone.

Kinda corzinesque.

..aannd its gone, very South Park.

Very cool.

Feb 20, 2013 - 4:08pm

@ivars: credit based preceeded commodity based?

You said:

One thing that i know is that credit based systems came in history long before commodity based , and commodities were used to denominate debt in comparable terms. There was no barter-commodity - gold transition. It was always credit ( and debt) and then transition to ways of measuring and keeping accounts of these debts created all sorts of money including gold and silver.

What is the basis for that statement? Do you have reference for it? I ask because it goes against everything I've ever read on the topic. If you have more information I'd appreciate it.

Feb 20, 2013 - 4:09pm

USDX Correlation

I am still looking for a bottom like most here. Last week I mentioned that I was keeping an eye on the USDX which was at 80.5 at the time. I just checked because these prices are looking mighty tempting to add to the stack. USDX is now at 81.07. So, I will continue to wait and see if there is a correlation between the two before pulling the trigger. This gives me more time to try and decide if I should buy silver, gold, or both. Maybe both.

Feb 20, 2013 - 4:12pm

The Bottom

will be evident a couple of months after its made. Unless an event occurs. which, given whats going on is more than a remote possibility. Nobody talking this time around about bank weakness. In fact, the govt is optimistic!

Green shoots and ham. I do not see them Ben, I am.

Pax Argentum
Feb 20, 2013 - 4:12pm

Pax says: Thanks!

Thanks Paper Tigers!

Those of us with room still under our mattresses and in our canoes give you our most heartfelt appreciation for your market-warping, reality-distorting gamesmanship.

More Ag is on its way to my underground bunker as a tribute to the Morgue and in particular the asshats at the CFTC.

BTW, for those of you that are interested, the latest Canadian wildlife coin, the Wood Bison is available for pre-order. Apmex says shipping Mar 1.

Keep Calm and Stack On.


Feb 20, 2013 - 4:13pm

None of my bids won

Didn't get any silver today, was outbid on all my attempts. Well, there is always tomorrow.

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