Gold? Silver? The Miners?....All Three?

Tue, Feb 26, 2013 - 9:06am

While kicking around YouTube last night, I found this interesting video.

This video is an interview of Jay Taylor, who is an analyst and a radio host. He discusses the metals, the miners, the economy and even the gold standard and he does so from the point of view of a "Turdite" so I thought you'd find it informative and compelling. It might even be a good one to send along to family and friends who are "on the fence".

Video unavailable


12:40 p.m. EST UPDATE:

I'm extraordinarily busy today so there is no time for a full, new post. However, as you've noticed, The Bernank has thrown us a few bones today in an attempt to talk up the stock market and increase his beloved "wealth effect".

I've noticed several requests for updated charts so I've posted them below. As we discussed yesterday, there are stages and hurdles in every recovery and the action today has boosted us through several. This is good as it greatly increases the pressure on the existing shorts, particularly those that were late to the game and were only sucked in last week. And that is where we will find our "critical levels".

First of all, we need to put today in the books without giving too much back. As I type, I've got gold near $1613 and it simply need to close above $1600 for our recovery purposes. IF we get something above $1615...even better! In silver, I really want to see us close above $29.20 and I've got a last of $29.34. Keep your fingers crossed.

As mentioned above, each metal now has a "critical level" and those can be found by looking at the price action since the beginning of the year. Recall that back on Jan 3 and 4, the metals were shoved lower and gold found a bottom near $1626. As price swooned two weeks ago, it became clear to nearly everyone that the $1626 level was going to be important support and, below there, the shorts would find plenty of sell-stops to harvest. Taking advantage of thin, overnight trading, The Bad Guys were able to swamp $1625 in U.S. wee hours of Friday, the 15th. Once below there, all sorts of tech-trading HFTs and momos were drawn into the short trade and the result was last week's cascade down to a low of $1555.

Almost all of those trades are now under water. If I were a fresh short, I'd be almost panicky here with a very itchy trigger finger. My only hope is that we stay below $1625 and then move back lower. In desperation, I may even double-down in the hopes of rescuing myself.

So there you have it. The "critical level" in this recovery is $1625. In silver, the commensurate point on the chart is near $30.20 so that is the other critical level. Watch them closely the rest of this week. WHEN price finally recovers through those levels, I expect a rapid return toward the levels sustained before the Chinese New Year, when The Forces of Darkness felt compelled to begin this current event...roughly $1670 in gold and $31.50 in silver.

About the Author

turd [at] tfmetalsreport [dot] com ()


Feb 27, 2013 - 2:20pm

OMG! This is why I love my German Shepherd so much!!!!!

Video unavailable

EDIT: And this looks like a gun shop! Who needs a fricking pistol when you own a 100lb shepherd. Too bad we couldn't see the climax as the perp tries to run back out of the door with no ass left!!! Have a nice day.

Joe Dokes
Feb 27, 2013 - 1:50pm
foggyroadGeorge Clooney
Feb 27, 2013 - 1:50pm


Bein Qui estee,

I wondered why I saw spot, after guzzling dat pint, I could hardly light my smoke, dat polaroid flash cube, left purple ting floating in front my eye.

Dropped my Zippo under de HiFi, and de chat batted it away.

Ya da beer can ting, that's Moi cousin Real Rubertire, and is amis , Jean Guy Ruberboot. Doze guy, taberwhit.

Foggyroad - but do you puncture the empty cans on tree branches when you get hammered on your snow-mobile? Why is it always cans of 50 up above the snow line in the woods? And sorry to reveal your identity, but I believe this was you as a young lad?

Feb 27, 2013 - 1:39pm

It looks to be TRUE!

Dave Janda, host of Operation Freedom, had a guest on his show who informed the listeners that based upon information he said came from a high level military officer that there is an Obama Administration’s new “Litmus Test” whereby senior officers are being asked would they be willing to order troops to fire on Americans if they were unwilling to give up their guns and ammunition. That interview went viral over the Internet and some 40 military officers have come forward confirming that information.

Domestic civil unrest military exercises are becoming common. Armed military vehicles are patrolling Wisconsin neighborhoods as part of a civil unrest training exercise on behalf of the United States Army Reserve. It is clear that the government knows what is coming. It only need look at Europe. It will defend itself and it is a crime to call for such an uprising as the Founding Fathers did against the King. The King is dead – long live the President.

Feb 27, 2013 - 1:34pm

"My best life-long pal, is a

"My best life-long pal, is a darkie"

That is so wrong, but funny, but so wrong! Do people really use darkie when referring to people of color?


Im a civil war buff, and that term was commonly used, to refer to blacks.

The truth is, blacks have darker skin that Whites. A simple truth.

Neither one of us are dishonest with each, here is the secret, he is black and Im am white, and he knows me well, and I know him well, we love each other, and he is way way liberal, and Im so conservative, Im reactionary, but we both are so way beyond childish racism, that we can talk to each other anyway we want.

How ya doing white trash, war monger, greedy SOB?, fine thanks, and you, you liberal a$$, nigra? find thanks.

We are not locked into the past, we breath the same air of brotherly love,

so STFU you piece of trash, LOL!!!!!

When you are secure in yourself, in touch with your thought processes, knowing you stand fairly on all fours, you dont care about other's perceptions based upon a time long past. We Americans have matured over the last 30 years to not always couch everything in terms of racism. Sure, many whites hold prejudices unfairly, and many black have the pandered victimization attitude, and from that comes the real harm. However, I AM NOT DRIVEN by others or by the political correctness of the day, but rather, we make fun of others' pathetic political correctness, biases, and racism. Many a whitie have heads up the dark whole as well. They are marginalized by their own weaknesses. And if anyone is really offended by my comment, I think they should do some self reflection. There is nothing inherently bad about being white or black or brown or red or yellow. There is something inherently bad about FINDING racism in everything, the liberal mantra, to lock in the black vote, and you all must agree, its suceeding very well. It is also unfair to not give the poor a helping hand with jobs and a fair shot. Whites and Blacks still in large measure hold prejudices. It is not guys like me that perpetuate racism, but the liberal camp, for political exploitation. BHO just loves the code speak of racism, victimization, for political exploitation. I see it that for the REAL FUEL TO THE FIRE of racism, and the resentment brought in so doing.

The simple truth, our skin colors dont match, but are hearts do.

Caucazoid, or Nigratude, is just a fact, neither one something to be ashamed of, unless you have ax to grid, feel victimized, in an unfair society, buying into BHO's outrageous racism, or you can not judge people by their character.

Hiding behind the original sin, screaming victimization, in the 21st century, is getting old. When BHO stops the victimization game, trying to keep alive resentment, and prejudices, and racism, for sustaining the voting block, we all will breath a fresh air of brotherly love.

All those offended by my use of the term "whitie" for caucasian prejudice, raise your hands.

By the way, if you all notice, I said it would unfair to not provide the poor (all colors included) with jobs. I got no problem with the government funding projects, such as, freeways on gas taxes to improve infrastructure and unemployment. Give the poor a shot at real life dignity, rather than enslaved hand-out dependency, ruinization of hearts and self-reliance, now perpetually enslaved, and that my friend, is the real crime of RACISM of our government.

So old glory should have just one big red star. In the 21 century, we have finally arrived under totalitarian, socialistic, fascist, racist government, that is the elitist cesspool of DC.

Aint that just freakin great.

Feb 27, 2013 - 12:55pm
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

Feb 27, 2013 - 12:44pm

Au 1600, AG 29

Buying here doesn't look strong enough to support. hoping for a quick rebound though

Feb 27, 2013 - 12:25pm

Bernanke and the case against deflation.

"Bernanke says Congress should focus on longer-term budget cuts and not make sharp reductions in spending in next few years when Fed doesn't have scope to offset them. Is anyone listening?"

"Doesn't have scope to offset them."


Tranlation: The Fed is doing all it can ty buying 90% plus of Treas. bonds at near zero interest. It's at the end of it's tether as a barking dog.

The Fed's new/only policy as the Bernanke is to let them mature and roll them over. But as the deficits grow ever larger, dispite "sequestation" they must buy ever more T-Notes to keep interest rates low at artificially Fed marked Ponzi scheme buying.

The one thing that differentiates a normal Ponzi scheme and the current Fed one is that normal Ponzi schemes can't print money to keep it going. The Fed can.

As the Bloomberg video said, the Fed and the Treas. want/need inflation and a weaker Dollar as a way to increase taxes. Just think. What, if everything that is taxed, (what isn't?) went down in price? Given an equal amount of expenditures, every gov't agency would take in less and less amount of revenues. What a nightmare that would be for paying off Gov't employees and pensions. They have to inflate to pay off existing payrolls and pensions or default one way or the other and that's not politically feasible.

What's really importent is the RATIO of pay to purchasing power vs the RATIO of Gov't income to expenditures.


#1 When purchasing power declines and unemployment rises, the country becomes poorer.

#2 Inflationary policies need increasing paychecks to keep up with inflationary purchases such as food, insurance, gas. etc. When it doesn't, then the game is over. Gov't inflationary purchases increase, but Gov't taxes decease either in real terms or in inflationary terms.

#3 Real Gov't outlays are increasing, while real Gov't income is decreasing at an alarming rate all across this nation.

#4 The Gov't has drained all the financial blood it can via taxes of every sort except outright confiscation, which it is endeavoring and conniving to do, now that the legal cash cow is dry.

#5 The Tax code is a financial scam filled with loop holes for the rich. If a corporate entity is considered a legal person with all the rights and privileges thereunto, then why are there two separate TAX CODES? How can a "corporate person" make hundreds of Millions and pay less than a single Burger King employee?

Answer: Fraud and payoffs to this Congress and President.

Feb 27, 2013 - 11:47am

Because all of our "other" problems have been...

... solved. Further proof that Liberalism is a mental disorder.


House Democrats propose Department of Peacebuilding

California Democratic Rep. Barbara Lee has introduced legislation to create a federal Department of Peacebuilding that would cultivate peace and take on the causes of violence and conflict.

Lee’s legislation H.R. 808 “Department of Peacebuilding Act of 2013″ also would create a Cabinet-level Secretary of Peacebuilding focused on creating peace and preventing violence....

...The proposed department carries on an idea initially proposed by former Ohio Democratic Rep. Dennis Kucinich, who attempted to establish a Department of Peace.

Read more:
Read more:
Texas Sandman
Feb 27, 2013 - 11:39am


Basically, I agree, but think we may not make it to the 50% retrace. So, I thought I'd throw that notion out there.

We're past the 24%, so I think it likely we hit the 38% before the bottom falls out.

But basically, this is what happens when SI puts in a bottom.

It's that retrace that really tells you things, not this rally off the bottom.

I know santa has called for a "V" bottom on King World News. I saw that one. But such an outcome is vanishingly rare in markets of any kind, and particularly a very emotional one like SI.

Again, nothing set in stone... Just probabilities.

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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

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