Wed, Mar 20, 2013 - 11:08am

Typing fast to post this while the site is up...
All is (relatively) quiet this morning as the markets await the Fedlines and Bernank presser at 2:00 p.m. EDT.

It's always fun when The Bernank issues statements after the Comex closes and it's going to be a very wild ride again today.

Coincident to that, our pal Santa will be hosting his "chat" in NYC this afternoon. You can bet that, if given the chance, The Gold Cartel will try to jam prices down while Santa is talking, if anything just to remind him that they are still in charge...for now.

So, anyway, expect significant
 volatility this afternoon. On the bright side, though, is this: In between outages, I've posted two separate quotes/interviews from The Brenank's lapdog, Jon Hilsenrath of the WallStJournal. Hilsenrath has twice emphatically stated that the FOMC will not be swayed, that QE will continue ad infinitum and that The Fed will keep "hitting the gas" in order to wring out as much growth as possible from the moribund U.S. economy. With that in mind...maybe, just maybe...we'll actually get some UPside volatility. Maybe. Just be sure you're paying attention at 2:00 p.m. today.
Lastly, about the outages. It's not just my site that has been hit. You likely noticed that Max's and some others have been having trouble, too, and this appears to be related to the attacks on KWN, SD and others last month. The Tech Team is working overtime to try to fix things and we all should be extremely grateful.

I'm hoping that a forensic investigation will yield actionable results because I am fully intent upon pressing charges, if possible. These malicious attacks are designed to disable this site (my business) and they are doing significant financial damage not only through the downtime but by the cost of repairs. If this were to happen to a brick-and-mortar business, authorities would be called and arrests would be made. However, because this is the internet, the hackers feel safe behind their anonymity. Not if I have any say so in the matter, they're not
. I will keep you posted in my efforts to bring them to justice. It may take a while but I'm going to try.

That's all for now. I will be traveling again today so, even with all of the Fedline volatility, I won't be able to make an updated post until this evening. Remember, nothing of significance has taken place until gold moves through $1626 and silver moves through $29.40.


About the Author

turd [at] tfmetalsreport [dot] com ()


Fr. Bill
Mar 20, 2013 - 11:10am



Mar 20, 2013 - 11:11am

Will it work?

First, if I don't get a validation error.

Mar 20, 2013 - 11:38am

Tried to be first, tried to be second

Guess I'll take the bronze instead.

That is IF the site stays up long enough to get this posted. Who knows anymore.

Mar 20, 2013 - 11:43am

Voice of America on Cyber Attacks

Correction made to original post

South Korean financial and communication networks were attacked and taken down.

This is parallel to the problems at JPMC and many websites.

"South Korea's communications commission (KCC) says a distributed denial of services (DDos) attack, a common way to overload computer servers making websites unreachable, was not the reason computers at broadcasters and banks became paralyzed."

"Lee says suspected malware was circulated through a software update application known as the patch management system, destroying the primary sector on hard drives containing the code needed for starting the operating system (the master boot record)."

"South Korea's Financial Services Commission issued a statement saying Shinhan's Internet banking servers went down and that computers at Nonghyup and Jeju banks were hit by a virus that deleted files. The Commission adds that Woori Bank successfully fended off a suspected denial-of-service attack."

Mar 20, 2013 - 11:47am

To my suprise

I was reading an article witch stated "

"Cyrpus Knocks Euro And Stocks Lower, Gold Heads Toward $1639"

Love those Ozies! but lets hope for the best if we get through 1619-22 then 1639 then 1669 which would just make my day.

Great to have the site back up Turd and I hope you can ferret out the scum!

Mar 20, 2013 - 11:49am

When the Site is Down Buy Physical

Every time the site goes down I am going to buy physical.

So someone want to disrupt the Turd's site and other metal sites in an effort to help keep the metals down.

Well I'm emailing my favorite ball bearing company and ordering some more ASEs.

Take that!

Mar 20, 2013 - 11:50am


Lots of

Boats with

Metal to


Mar 20, 2013 - 12:03pm

site support is important, especially now

I agree with Jane. (thanks for the AOL scoop)

Supporting the site anyway possible would probably be very appreciated. All of this hard, dedicated work by the tech crew has to be costly and for good reason.

Do what you can when you can because TF Isn't the hat in hand type, nor should he have to be. I'm confident all of you will do what you're capable of because we have a solid group of people on here who appreciate the site.

I hope TFMR finds out whomever it might be that might be responsible for this and nails them to the wall by alerting the highest authorities possible. This sounds like it would be a federal offense. whomever it might be (if its partially isolated to this site) you better knock it off unless you want some federal law enforcement issues to suddenly burst into your life. indecision

Silver Alert
Mar 20, 2013 - 12:03pm

Just w+8+ing

For the Bernank. A minor beatdown today compared to usual. Hopefully we'll get a nice post-FOMC bounce.

Mar 20, 2013 - 12:08pm

I just downloaded the latest

I just downloaded the latest software security update for OSX mac - recommend it for those who haven't yet :)

Mar 20, 2013 - 12:08pm

You seen these historical Fed minutes?

You seen these historical Fed minutes? I'd seen some, but not all. This rendition includes the minutes Doc just posted in follow up to Sprott's recent piece (, and a whole lot more. One example of minutes I'd not previously seen includes the below excerpt (from July 1995 FOMC).

Interesting times. Lucky to be navigating them with you lot.



CHAIRMAN GREENSPAN. I think I've got it! [Laughter] You are telling me that the SDR certificate comes out of the Treasury and we cancel the Treasury obligation and it is wholly an asset swap so that the debt to the public of the U.S. Treasury goes down by that amount. Is that what happens? That solves President Jordan's problem too! [Laughter]

MR. JORDAN. Can I follow up on that? The same thing happened when we changed the price of an ounce of gold from $35 to $38 and then to $42.22. The Treasury got a windfall of about $1 billion to $1.2 billion in both of those so-called devaluations. So an issue on this is: What was the dollar price of SDRs that we monetized? You say I have an asset on my balance sheet and I don't know what the value of it is.


MR. TRUMAN. It's $42.22; it's equivalent to the official price of gold.

MR. JORDAN. We do this at the official U.S. Treasury price of gold?

CHAIRMAN GREENSPAN. Do you mean that we can lower the debt to the public by moving the price of gold up to the market price? That could cut the debt back by a not insignificant amount!

MR. JORDAN. I have been trying not to mention that publicly for fear that someone might want to do it.

CHAIRMAN GREENSPAN. It's probably too late; we just mentioned it.

MR. JORDAN. It will become known five years from now!

MR. LINDSEY. Five years from now, it will be read in the transcript for this meeting.

MR. BLINDER. By which time it already will have been done.


This exchange is extremely significant because it recognizes that external debt of the USA will eventually have to be balanced with the amount of gold claimed to be held by the Treasury. Interestingly enough the Fed doesn’t want this information to be known as this would essentially devalue the dollar overnight and give instant hyperinflation. But as Greenspan points out it would inflate away the debt. It should also be noted that the five year delay in releasing information to the public is clearly viewed by the Fed as a way to disadvantage the public. When the Fed/Treasury is forced by market conditions to balance its debt with its gold holdings the dollar will be massively devalued and gold will be multiples of its current price. This would certainly make it advantageous to be one of the “crazies”, as Greenspan affectionately refers to gold investors, when that comes to pass!”

Mar 20, 2013 - 12:09pm

The Queen,the Pope and the POTUS are in .....

Hell......this is a joke by the way. They each get to make a telephone call home.The devil charges the Queen and Pope hundreds of dollars per call,and the POTUS only gets charged one dollar......whats up with that they cried. Well,the Devil replies,"from down here to the White House is only a local call!

No i won't quit my day job

Seriously,thanks Turd.You rock! Question....did you see that article by Charles Savoie,he "bitch -slaps" Anatel Fekete .....regarding backwardization. Charles is a brilliant silver historian and Ted Butlers buddy

A request if i visiting cousin from England wants some silver bullion to take home. Does anyone know if there are any problems /hidden taxes,etc . if they buy some silver here,in Canada,and then fly home with it?Thank you

Mar 20, 2013 - 12:14pm

Jerry Lewis Telethon? Put Money Where My Mouth Is it's not a telethon and this is not at the request of the site.

I just donated $50 to TFMR on a one time basis (already a monthly subscriber).

I won't go all Jerry Lewis on you but is there any of you who will match or exceed that or just do what you can do no matter what the amount?

I would love nothing more then to see a bunch of posts that merely state...

Did it! Just contributed to the site!

I know TFMR and myself can count on some if not all of you if possible...unless of course the site/your community being attacked and rendered non-functionable doesn't bother you.

Didn't think so :-) Thanks!

Mar 20, 2013 - 12:15pm

Top ten

Top ten again! Between this site being attacked, threats of Cyprus bank theft (that sure seems like a trial balloon), 20% sequester caused pay cut that's impacting my physical purchases, and the inevitability of mutually assured financial destruction...the only good news is this top ten!

The Watchman
Mar 20, 2013 - 1:13pm
Mar 20, 2013 - 1:14pm

Have we ever rallied on a FOMC statement day

Can't recall the last time it has happened

Mar 20, 2013 - 1:15pm

I will never order from SBSS again

Their excuses have just gotten ridiculous, and my order placed on 1/30 might, maybe get to me by the end of next week. In the meantime their website says 14-21 days. Sure, how about 60 days. I don't care what anyone says to defend these idiots. I order from a lot of different sources and 60 days is nothing short of ridiculous. I was actually told that the reason it is taking so long for the January orders is because they are simultaneously filling February orders! Really? Well thank you very much for putting me behind all of those February orders that came in AFTER mine. That is the stupidest explanation I have ever received from a customer service rep. BUYER BEWARE!! SBSS sucks!

Mar 20, 2013 - 1:25pm


It's certainly been a while...

2011? (Correct me if I'm wrong.)

I still remember a $50+ spike during a Bernanke speech...

Those were the good old days!

Mar 20, 2013 - 2:33pm

FOMC / Cyprus

This by far the most restrained reaction before and after a FOMC statement I've ever witnessed while I've been with TFMR. 

Also...the new ZH article regarding the EU floating the public idea that they'll cut Cyprus loose is HUGE!

Looks like Russia has won this big time and has secured a country (and military base) in a very sweet spot.
This is big!

Mar 20, 2013 - 2:34pm


comment! One thing for sure......the attacks have added a new level of EXCITEMENT to this site! Not that it needed any. ;)

Mar 20, 2013 - 2:37pm

Speaking Of Cyber Attacks.

Just remember, it won't be Iran doing it...

Cyber False Flag On The Horizon?
Mar 20, 2013 - 2:40pm
Mar 20, 2013 - 2:42pm


about to pop!

Mar 20, 2013 - 2:44pm


The false flag reference is alien to you, try on these sunglasses...

America Is Waking Up!
Mar 20, 2013 - 2:44pm

Here I have overlaid global

Here I have overlaid global public debt from 1999-Q3 2012 from this site (it was at about 50 trillion USD in Q3 2012) :

Global public debt World Bank database

Over the price of gold for the same period.

But global public debt= net world wide savings in fiat currencies ( all). One can see from the chart that initially, the raise in Japanese public debt did not cause movement in the gold prices, but when the USA debt started to grow due to Iraq war in the end of 2003 and decisively exceeded that of Japan by Q3 2005, gold price started to catch up. 

Also, its possible to see that gold price reaction to QE2 was fictitious, as QE2 did not increase global public debt, and gold prices returned to debt line, and now they probably have undershot below ( there are no data yet available for global public debt for Q4 2012 and Q1 2013). Gold prices can over and undershoot pretty much (+30%/-22%) , as I have explained before, and as visible from picture.

There is also no reaction to QE3, as QE3 does not increase USG debt relative to what it would have been without QE3; QE3 only suppresses interest rates.

Question remains is USG debt=net savings in USD driving the gold prices in USD, or is it the global debt=net savings in all fiat that impacts price of gold in USD. Correlation in 2001-2007 is better with USG debt, while after 2007 total fiat savings=global public debt - fits very well and explains the pullback after QE2.

Mar 20, 2013 - 2:44pm

Best of intentions

Tried for the win win; purchase top of the line TF T shirt.

But failed in my quest: Took me to some site beginning with Z; asked me to log in, tried email address and username - nada.

Also seems that paypal and some other strange payment methods only accepted. No Visa/AmEx ?

Perhaps a shoppers info page outlining the buying process?

Can one use visa or amex?

Maybe just give me a phone # and I will call the order in.


Mar 20, 2013 - 2:48pm

SBSS are great!

I got my order earlier than they predicted. About 3 weeks earlier. Fantastic service !


Hey ag1969. Want to buy some Freedom Girls? Like this

Well you CAN'T!


Ah c'mon, cheer up, eh? smiley.

Mar 20, 2013 - 2:48pm

santa meeting

turd are you going to be able to post anything from santa's meeting? great job thank you

Mar 20, 2013 - 2:49pm

santa meeting

turd are you going to be able to post anything from santa's meeting? great job thank you

Mar 20, 2013 - 2:49pm

santa meeting

turd are you going to be able to post anything from santa's meeting? great job thank you

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