Your Weekend Reading Assignment

Fri, Mar 29, 2013 - 3:20pm

Our friend, Jim Willie, has penned something he calls the "most important article he has ever written". Good thing you have three days to study it. 

So, I ask you to please take the time to read and study this article. Events are unfolding today that seem to fit rather neatly into the narrative that The Golden Jackass has espoused for nearly a decade. Of course, no one can predict future events with 100% accuracy and certainty, but as you know, Jim is far better than most at perceiving and assessing The Big Picture.

In reading this just-released article, you'll see that many of the "dots" he has followed for years are finally connecting and leading to a monumental conclusion. The ultimate restructuring and reordering of the global financial system and power structure may not play out precisely as he has detailed here but, given the accuracy of so many of his other forecasts, you must take the time to consider the ramifications of this latest missive.

Finally, Jim and I plan to record a podcast next week that discusses this article. We will also go into some greater depth and detail regarding these consequential events that are currently taking place, both in the public eye and behind the scenes.

The article begins with this:

An unstoppable sequence of events has been put into motion finally. The pressure has been building for months. Some themes are plainly evident, except to those who wear rose colored glasses in the US Dome of Perception. The USTreasury Bond will be brought home to the US and British banks, where it will choke its bankers, then be devalued for survival reasons, after a painful isolation. The Chinese and Russians will conspire to finance the Eurasian Trade Zone corridor foundation with USTBonds, held in reserve, put to usage. The British will play a very unusual role, selling out the United States in order to be squires to the Eastern Duo. The process has begun; it cannot be stopped. The events are already being grossly misinterpreted and minimized in the US press, where devoted lapdogs, artistic swindlers, and creative writers prevail. The Paradigm Shift eastward is showing its next face, with a truly massive trade zone for cooperation and reduced cost overhead as the giant foundation. The Untied States for all of its past hegemony and devious manipulations and vicious attacks, will be excluded. The British will assist in the exclusion in order to avoid the Third World themselves. The following blueprint is the result of years of planning, with steady information and hints and confirmations by at least two Hat Trick Letter sources. The sunset of the USDollar has a blueprint. As a personal embroidery, let me state that this article is the most important the Jackass has ever written. Let it be taken seriously for its grave somber message.

It continues here:

And of course, all of Jim's musings can be found here:

Have a relaxing holiday weekend and, come Monday, be ready for whatever next week has in store.


About the Author

turd [at] tfmetalsreport [dot] com ()


Mar 29, 2013 - 3:25pm


Learned that the LCS buys sterling tableware for $0.65/gram and sells it to customers at $2.00/gram.

Went to antique mall and got a 2 oz sterling silver spoon for $70 and a simple but old navajo silver bracelet for $65 (about 1.1 oz). I'm hunting for two sterling place settings for the breakfast table, but may have to buy them new. Everything seems to be going to the melting pot.

Mar 29, 2013 - 3:30pm

Plans within plans

It can't happen here?

The Fed and the BoE have a plan for deposits:

Although few depositors realize it, legally the bank owns the depositor’s funds as soon as they are put in the bank. Our money becomes the bank’s, and we become unsecured creditors holding IOUs or promises to pay. (See here and here.) But until now the bank has been obligated to pay the money back on demand in the form of cash. Under the FDIC-BOE plan, our IOUs will be converted into “bank equity.” The bank will get the money and we will get stock in the bank. With any luck we may be able to sell the stock to someone else, but when and at what price? Most people keep a deposit account so they can have ready cash to pay the bills.

The 15-page FDIC-BOE document is called “Resolving Globally Active, Systemically Important, Financial Institutions.” It begins by explaining that the 2008 banking crisis has made it clear that some other way besides taxpayer bailouts is needed to maintain “financial stability.” Evidently anticipating that the next financial collapse will be on a grander scale than either the taxpayers or Congress is willing to underwrite, the authors state:

An efficient path for returning the sound operations of the G-SIFI to the private sector would be provided by exchanging or converting a sufficient amount of the unsecured debt from the original creditors of the failed company [meaning the depositors] into equity [or stock]. In the U.S., the new equity would become capital in one or more newly formed operating entities. In the U.K., the same approach could be used, or the equity could be used to recapitalize the failing financial company itself—thus, the highest layer of surviving bailed-in creditors would become the owners of the resolved firm. In either country, the new equity holders would take on the corresponding risk of being shareholders in a financial institution.

No exception is indicated for “insured deposits” in the U.S., meaning those under $250,000, the deposits we thought were protected by FDIC insurance. This can hardly be an oversight, since it is the FDIC that is issuing the directive. The FDIC is an insurance company funded by premiums paid by private banks. The directive is called a “resolution process,” defined elsewhere as a plan that “would be triggered in the event of the failure of an insurer . . . .” The only mention of “insured deposits” is in connection with existing UK legislation, which the FDIC-BOE directive goes on to say is inadequate, implying that it needs to be modified or overridden.

Was bank stock. Neat trick! Stocks are at an all time high. You have nothing to worry about.

My favorite part is about those pesky "insured deposits". 

Full article here.

Mar 29, 2013 - 3:32pm

top 10

In nascar...they call this a payday

Mar 29, 2013 - 3:35pm


With bells on.

Mar 29, 2013 - 3:45pm


Is there a report today?

Mar 29, 2013 - 3:54pm

The Template Is In Place

As the Dutch FinMin said about Cyprus, "the Eurozone now has a template in place."

Jeroen Dijssbloem, or as ZH refers to him "Diesel-Boom or D-Boom", has given us a catchy and descriptive acronym, D-Boom = meaning;

Lowering the "BOOM" on any and all account holders. Stealing their funds in those personal accounts and giving them to insolvent banks, who then give them to their shareholders, who are the 1% ' ers.

Aaaand.... its gone! The rich get richer.

Mar 29, 2013 - 3:55pm

top 10

sleeping late has its advantages

Mar 29, 2013 - 4:01pm



And on a Golden Jackass post to boot!!! What a day!

Thanks for the site Turd and all you do. Peace to you and Mrs. Turd!

Mar 29, 2013 - 4:08pm


my 90% silver seller used to list .723 as the amount of silver in a face dollar back in 2011. now he has .715 as the amount in a face dollar. is this because of the wear from circulation and how if at all does this affect the change in the premium for 90%?

Mar 29, 2013 - 4:10pm
Mar 29, 2013 - 4:11pm

JPM your time is up??

As the nation’s strongest bank, JPMorgan Chase used to be known for carrying special sway with regulators. Now it increasingly finds itself in the cross hairs of federal authorities.

At least two board members are worried about the mounting problems, and some top executives fear that the bank’s relationships in Washington have frayed as JPMorgan becomes a focus of federal investigations.

In a previously undisclosed case, prosecutors are examining whether JPMorgan failed to fully alert authorities to suspicions about Bernard L. Madoff, according to several people with direct knowledge of the matter. And nearly a year after reporting a multibillion-dollar trading loss, JPMorgan is facing a criminal inquiry over whether it lied to investors and regulators about the risky wagers, a case that could accelerate when the Federal Bureau of Investigation and other authorities interview top JPMorgan executives in coming weeks.

All told, at least eight federal agencies are investigating the bank, including the Federal Deposit Insurance Corporation, the Commodity Futures Trading Commission and the Securities and Exchange Commission. Federal prosecutors and the F.B.I. in New York are also examining potential wrongdoing at JPMorgan.

Read more here:

department of truth
Mar 29, 2013 - 4:13pm

Willie Rules!!!

Jim Willie is great! I love this guy, he tells the truth, a refreshing thing to hear in these days of corporate news and National Propaganda Radio.

 "The US leader crew, led by fascist bankers, can print money and counterfeit bonds all they wish, but the currency will be required to submit to grand devaluation if they wish to purchase supplies for the massively lopsided and imbalanced USEconomy, the greatest travesty in marketplace history.

The combination of central bank hyper monetary inflation, big US bank fraud, security agency $100 bill counterfeit, and rampant criminality in the US financial system has motivated the Eastern nations to act. They have acted. The clear outcome is that the Western banking system will topple, since the East will be shoving the USTBonds back to Anglo-American shores for cemetery treatment. Trade should always dictate banking. The major trade partners no longer want US$-based trade settlement. Watch for the crowning blow in the Saudi response soon, since they always follow the winners.

In the process, expect extreme hardball, shoving the toxic USTBonds back into US and British banks, as collateral for huge loans, as funds for repayment of huge loans, as funds to purchase Gold. In the process, the COMEX with LBMA appendage will be drained of its Gold, a future default assured. The Western gold marts will be unmasked as corrupt dens of empty inventory shelves."

I think will celebrate and buy some $28/oz silver.

Mar 29, 2013 - 4:15pm

turd what are your favorites for tonites tourney action?

brackets... smackets.... just go to the turd man.... weeeee

Mar 29, 2013 - 4:21pm

Im am suthsayers

I went to Armstrong econ, and saw

Eliminate the income tax and adopt a consumption tax.

Its not that others have proposed such tax, or other social solutions, before, but its the reasoning behind it and selecting the right mix that exploits the duality of man. My reasons are based upon freeing people, to not penalize productivity, to not reward unproductivity, and with a consumption tax, everyone pitches in, and gives the earth a break. the basic plan is relatively simple, its the reasoning that escape most at this time.

"That is the trick for exploiting to the maximum our devils and angels. I call upon the world, to UNLEASH our devils and angels, to exploit our devils and angels for another HUGE upleg in the ascent of man."

"STOP ENSLAVING US as tax mules or dependents!!!!!!

Abolish the FED Bank
Abolish fiat paper money
Abolish Federal Social programs
Abolish all taxes that penalize Income (income, capital gains, inheritance)
Abolish all taxes that promote dependency (worker compensation, unemployment compensation, social security)

Promote exclusive federal taxes that penalize consumption (a national sales tax, pay and forget like the gasoline tax, and give the earth a freakin break from corporate ruinous exploitation, promoting the most cost effective use of natural resources whilst getting the IRS thugs and Tax Attorneys out of the terrorizing loop, and free the people from government)
Promote exclusive state taxes based upon in rem property.
Promote within the various states safety nets, state university funding, and all social programs, and let the states compete for all those freeloaders, so as to provide the most cost-effective welfare system with little affect on the over all economy,

It seems that the more its all understood, the more the founding fathers had it right.


It seems, the more I read of others, the slowly they come to that comprehensive view, solutions, and reasoning therefore. The question becomes, not if, but when. When, the libertarian-Green Party, not yet formed, gains political power, 2020.

you know you hang out in here, TO LONG, when youre in the TOP 10.


Hey I play bridge at handle Silverhop

If anyone would like to play, Im advanced, and can teach, betwix posts.

let me know.

Mar 29, 2013 - 4:37pm

Jim Willie

Jim Willie (


The Chinese central banks are fully prepared for the currency war in full swing. It is not threatening or looming, but rather in powerful full bore thrusts and volleys with hostility seen and deep damage felt. Put aside the stupid shallow comments by IMF head Christine Lagarde, who claims no currency war is in progress. China is already one step ahead of most nations (except Russia), fully prepared to roll out its own FX army. According to China Times, "China is fully prepared for a looming currency war should it, though avoidable, really happen, said China's central bank deputy governor Yi Gang." The Japanese and Swiss have confirmed a currency war with open comments about currency devaluation as policy by Tokyo, and a full year of currency peg maintained by Swiss alongside some big battle scars on their balance sheet from diversifying into UKGilts and JapGovtBonds. Tyler Durden of Zero Hedge points out the zero sum rule, which causes benefits for the debasing nation on currency policy to take the benefit from competitors in trade. Thus the slogan Beggar Thy Neighbor arose long ago. The global consumer will be granted no incremental income, against stagnant cash flow. The practiced currency debasement has no impact when everyone does it. Worse, it results in systematic decline in global trade, from the opposite of cooperation and bridge building. Actually, each economy suffers from higher costs, since more money goes toward commodity inflation hedges than toward business investment and job creation. Currency war is a plague that destroys capital structures.

Central bank deputy governor Yi Gang is prepared, with several tools. But he took time to remind the world of the G-20 objectives reached by consensus at the February conference in Moscow. The trend in the war has been for major economies to drive down their own currency through monetary easing policies, so as to gain a trade advantage, keep the export trade brisk, and fortify the domestic economy. The exact opposite results. Yi reminded that a currency war could be avoided, if policymakers in major countries observed the G-20 consensus. It called for nations to use monetary policy as a tool for bolstering the domestic economy. G-20 members promised that they would not wage a currency war, but each reacts defensively to the powerful effects from the USFed monetary policy of QE and ZIRP. They worry that removing the stimulus will plunge their economies into another recession. Actually, their monetary policy assures that plunge. The ongoing bond monetization and zero bound interest rates have undermined the USDollar, seen as a manifested higher currency trend for their exchange rates. No nations have shown signs of scaling back monetary easing that has injected a flood of cash into global markets. Yi Gang concluded, "China is fully prepared. In terms of both monetary policies and other mechanism arrangement, China will take into full account the Quantitative Easing policies implemented by central banks of foreign countries."

The PBOC left it vague what monetary policy response would be. Past history shows their tools clearly. For starters, they will continue to accumulate massive amounts of Gold bullion, multiples more than they admit in official data. The Gold will hedge against their deep US$-based bond exposure, serve to enable the convertibility of the Yuan, and stabilize their banking system. They will link the Yuan currency, already pegged to the USDollar, to the Japanese Yen or the British Pound, or whatever is the worst performing on the FOREX market. They will adjust the CNYuan trading band on a daily basis. China will also continue to use its USTBonds as currency in African energy and mineral deals. The quintessential challenge for the Chinese currency control room, as well as other major central banks, is to prevent rising energy and food prices. It leads to civil disorder. The ugly fact of life for Competing Currency War is that once started, it does not stop until a climax of crisis or wider war. History is a good teacher of this fact. See the Zero Hedge article (CLICK HERE).


Thanks to the Texas Sandman for details. He provided a snapshot two weeks ago. He wrote the following. "Dividing $21,242.65 by 715 oz. per $1000 face Junk Silver yields $29.71 on the silver price paid. This is what APMEX will pay you for $1000 face Junk Silver. This amount is 80 cents above their current silver bid price, (on March 8th). See the APMEX premium paid as compared to silver prices since 2010. As expected, they reduce premiums as prices rise and increase them as prices fall. However, the magnitude of the recent rise is quite dramatic. This is signaling, in my opinion, a definite shortage in Junk Silver that started inside my circle in the chart, on or around 6 December 2012. As prices begin to rise, we will see a reduction in their premiums, now at 80 cents over silver spot, but not to the extent we observed when prices reached $48 seen in 2011. The available Junk Silver to be purchased just is not plentiful enough to satisfy future demand." See the APMEX website (CLICK HERE). Scroll down to their $1000 face Junk Silver buy prices.

buy premium



John Embry from Sprott Asset Mgmt. agrees with Jim Sinclair that the pricing mechanism of the Gold & Silver markets is moving toward the physical market and away from the corrupted paper price discovery method from futures contracts. Embry adds that the metal in inventory is nearly exhausted. Embry disagrees with Sinclair in that Embry expects a much higher Silver price to stick. Rather than reciting a long quote, the following are Embry's sage thoughts from his unique perspective within the Sprott tower.

The USFed is engaged in rampant currency debasement with the ongoing QE program to monetize bonds. A disaster awaits. The upcoming moves in the Gold price will be shocking, if not spectacular. Most people miss the big picture. The Chinese continue to exploit the artificially low Gold price, buying heavily, accelerating the drainage from the West. Considering the positive long-term fundamentals against extreme negative sentiment, this situation is almost surrealistic. The Silver market is extremely tight, the market in enormously short supply. Demand will overwhelm available mine supply. The JPMorgan silver short position is the primary reason for the low Silver price, nothing more. When the precious metals prices begin their next move higher, Silver will move a lot faster, resulting in a collapsing Gold/Silver ratio. The ratio could plunge to 10:1, which means a skyrocket in the Silver price. Virtually all of the available above ground silver is gone. In addition, the US and Chinese silver stockpiles have been exhausted as well. The market has been outstripping supply for years, certain to intensify in the future. The dynamic forces are present for higher prices, or else widespread shortage problems.

Embry concluded, "The physical market is going to take over and the paper market is headed to the dustbin of history. The paper market has been in charge now for 25 years. But the paper markets for both Gold & Silver are coming to a close, because physical demand for Gold & Silver is outstripping supplies. As that transition takes place, the pricing mechanism will change completely. Once silver clears $35, the sentiment will change. Because the market is so tiny and there is this massive short position in silver, [the Silver price] will move very violently to the upside. The reality is that it will be easy for the industrial and medical fields to absorb a higher price, because it is a sufficiently small portion of the costs in both sectors. I am surprised the manipulators have been able to hold back the price of silver this long. When silver truly surges it will leave market participants speechless." See the King World News article (CLICK HERE). Embry understands market forces of supply versus demand well. Either higher price is seen or widespread shortage appears. Hidden supply had prevented the Silver price from rising much from 2007 to 2010, with a finger of suspicion pointed at India for providing supply.


The loud angry guy on CNBC is Rick Santelli. He is both smart and brave. He understands the deceptive economic reports and the rigged Gold market, refuting them equally and regularly in entertaining fashion. He makes the claim in plain terms, accusing the Paper Gold (the futures contracts) of suppressing the price of physical gold. He had better be careful, or else be labeled as financial terrorist by the bank Nazis. Santelli made great points, one after the other, hard-hitting slams. He claimed buying Paper Gold in securitized form defeats the purpose of investing in gold in the first place, since it would be difficult to tell if there really is any gold behind the paper. He alludes to the vast network of fractional reserve gold banking backstopped by central bank gold sales, gold bullion leases, and gold related derivatives that are collectively responsible for keeping the published Gold price at half the level it should be. The key is mountains of imaginary gold to deceive investors, thus maintaining central bank power. See the CNBC video clip (CLICK HERE).

Cry Me A River
Mar 29, 2013 - 4:40pm

COT 3-29-2013

I'm surprised the COT report from The CME was Released On Good Friday, But Here Is My Analysis:

The commercials have not yet signaled that their trend of covering shorts into falling silver prices is finished.

Today, their net shorts as measured in oz. of silver are still at 73% of the total comex silver inventory. This represents a considerable drop from a high of 211% reached on 11-27-2012, but is still trending lower. This is why I concluded silver prices would probably continue lower this week. We need to see the commercials ADD shorts; as this would signal that they feel they can no longer pull the rug out of prices to manipulate them lower.

I've been looking for a COT that shows an increase in net commercial shorts, but have not seen it yet since highs were reached on Feb 7th. I suspect as I indicated, that we should see a higher low in the commercial net shorts as a percentage of comex inventories over the next few weeks.

As I indicated in my last COT report,, this would require an increase followed by a decrease and an attempt to retest low percentage levels, but result in a higher net short percentage than the previously established low, before signaling a silver price turn and subsequent rally. This pattern shows up on previous lows in my chart where silver price bottoms occurred. (tops occur with lower highs as well).

Additionally, net short totals are calculated by subtracting the longs from shorts, not by the use of ratios where the short are divided by longs.

The commercials have not yet signaled that their trend of covering shorts into falling silver prices pertaining to registered comex silver inventories either.

Their net shorts as measured in oz. of silver are still at 279% of the total comex silver inventory. This represents a considerable drop from a high of 875% reached on 11-27-2012, but is still trending lower. I'm again concluding silver prices will probably continue lower next week. 

Since we're approaching $26 silver, it's not out of the question in my mind that this price is a goal for our bankster friends. If they do achieve this goal, the demand for physical will just increase. I also expect an increase in junk silver premiums too.

Cry Me A River
Mar 29, 2013 - 4:45pm

Thankyou Texas Sandman For Stealing My Work


Jim Willie Includes My Work Into His Article And Thinks It's Texas Sand Man's Work:


Thanks to the Texas Sandman for details. He provided a snapshot two weeks ago. He wrote the following. <----LOLOLOL! "Dividing $21,242.65 by 715 oz. per $1000 face Junk Silver yields $29.71 on the silver price paid. This is what APMEX will pay you for $1000 face Junk Silver. This amount is 80 cents above their current silver bid price, (on March 8th). See the APMEX premium paid as compared to silver prices since 2010. As expected, they reduce premiums as prices rise and increase them as prices fall. However, the magnitude of the recent rise is quite dramatic. This is signaling, in my opinion, a definite shortage in Junk Silver that started inside my circle in the chart, on or around 6 December 2012. As prices begin to rise, we will see a reduction in their premiums, now at 80 cents over silver spot, but not to the extent we observed when prices reached $48 seen in 2011. The available Junk Silver to be purchased just is not plentiful enough to satisfy future demand." See the APMEX website (CLICK HERE). Scroll down to their $1000 face Junk Silver buy prices.

Mr. Fix
Mar 29, 2013 - 4:49pm

There are very few authors I am committed to.

 Jim Willie has been required reading for the past five years.

 Now more than ever, I pay attention to what he has to say,

 I recognized a long time ago he has an extraordinarily good grasp of the issues.

 Thank you Turd for posting this .yes

Mar 29, 2013 - 4:52pm

COT Ratios

I'm not sure how Turd calculates the Cartel net short ratio, but I do know how he calculates the Large Spec net long. So here are the latest numbers for the Large Spec ratios and Cartel Net short (estimated based on how I think Turd calculates it):


Large Spec Net Long Ratio: 1.44: 1 (last week was 1.64: 1)

Cartel Net Short Ratio: 1.37: 1 (last week was 1.48:1)


Large Spec Net Long Ratio: 2.95: 1 (I don't think Turd listed it last week, but I think it's up from then)

Cartel Net Short Ratio: 2.27: 1 (last week was 2.19:1)

Mar 29, 2013 - 5:00pm

UK Santander Business Customers Beware!

Santander 'Internal Server Error' Business Customers Locked Out? 

The risk of contagion spreading across the euro-zone banks has increasingly been witnessing flight of depositor funds out of their respective big banks as Cyprus has now set the precedent that bank deposits are at real risk of being stolen, which for the likes of Spain means its biggest bank Santander.

Whilst day to day banking may continue for ordinary retail customers of Santander. However the same cannot be said for business customers who tend to have larger balances on account and who when trying to log in since late Friday may have been met with the following message of routine maintenance that has remained in force since late Friday.

Coupled with this:

 Spanish flea in the ear? A bit of odd behaviour from that Unsinkable Bank Santander. This circular was sent out to all its lucky customers during the last 48 hours. Entitled ‘IMPORTANT CHANGES TO TERMS AND CONDITIONS FOR
SANTANDER BUSINESS CURRENT ACCOUNTS AND BUSINESS SAVINGS ACCOUNTS’ (like what people just lost 85% of the value in Cyprus) it notes what the changes are ‘For businesses with a business turnover up £250,000.’ That’s SMEs to you and me.

Especially notable is Para 1(b) which now reads as follows (my emphasis):

’1 b) Your Money
Any money held for you in an account with Santander UK plc will be held in its capacity as a bank and not as a trustee. In accordance with FSA requirements we are obliged to notify you that the client money rules on money do not apply to a Banking Consolidation Directive (BCD) in relation to deposits within the meaning of the BCD held by thatinstitution. As a result, the money will not be held within the client money rules of the FSA.’

If I can just put into English what this means, ‘We hereby abrogate all responsibility for the business funds you keep with us, because we can no longer be trusted. In fact not only can we not be trusted, if those nasty Government people spot we’re up the swannee and order us to restructure, all bets are off, and the chances are you’ll lose the lot because they’ll steal it for the bailout. Ithangyew.’

The interesting thing about the choice of SMEs for such a circular reflects the fact that, by far, their current accounts have far more ‘velocity’ than private Mr Average: that is, at any given time they could have £150,000+ in cash between outflow and inflow…even though their annualised turnover is under £250,000. Also larger (multinational) businesses would kick up a stink, whereas as Stephen Hester has taught us already, SMEs can be easily kicked around. And finally, mopping up 100,000 SME accounts at £100K average a pop is a far easier way to steal than snaffling fifty quid from two million private current accounts.

Mar 29, 2013 - 5:04pm

Texas to repatriate it's gold?

Looks like the great state of Texas is requesting their gold. Will it take seven years?

"We don’t want just the certificates. We want our gold. And if you’re the state of Texas, you should be able to get your gold,” said Capriglione."

Good luck guys..............

Mar 29, 2013 - 5:24pm

Gold vs silver it...scared the shit out of me! My question association will silver move along with gold? I've been primarily a silver type guy but is it time to trade my silver for gold?

Mar 29, 2013 - 5:31pm

Wow! that was an uplifting

Wow! that was an uplifting reading assignment for this holiday weekend. I recommend everyone read it to their children and explain it. Of course, I can't find anything to disagree with. 

Although, he writes.

The British have an historical knack to remain on top of the bank center heap. Earlier this year, when they announced the launch of a Chinese Yuan Swap Facility in London City, they stepped on the New York neck. Never in a million years would South Manhattan serve as the site of a Yuan Swap functionary post, not during a trade war that has a secret hot military war element being played out in Southern African near the horn (see Djibouti).

But he doesn't mention San Francisco which I've published the articles a couple of tiimes.

That may change if it succeeds in a drive to become the West Coast hub for business transactions conducted in Chinese currency.

I'm told the city is working on a proposal to become a center for offshore trading in Chinese yuan, allowing the currency to be used more widely beyond China's borders.

However, if he continues, Mayor Lee might find himself under San Francisco Bay.

BIGNASTY Schwartz9546
Mar 29, 2013 - 5:39pm


I may be biased as I'm heavier silver than gold and would consider swapping some out but not while the ratio seem soo out of whack to me. I personally believe that silver will follow gold and has a real potential to close the gap considerably. Please consider the source as I'm just a dude that does not work in finance or investments in any way. There is lots of information out there about historic GS ratios. Good luck in your quest for what is best for you.

Mar 29, 2013 - 5:46pm

I think Armstrong is right

First USD will rise.

Then it will fall.

Run for safety will be in the US first, and then the crisis will hit again and run to safety will shift to private assets, including gold and silver.

Been outside the US, the question of keeping my (very modest) silver stack is very easy. But if I were living in the US, I'd be a little nervous for the next year.

Mar 29, 2013 - 5:56pm

@ JakeBlues

I usually lurk this site and visit the contents daily (and never really post) but yes, I definitely remember you posting the graph about junk silver premiums (more than once). 

It was NOT Texas Sandman, it was Jake Blues who provided that valuable information on junk silver premiums. Hopefully it was an honest mistake on Jim Willies part (assuming he did not know you were the original poster of that char)... unless Texas Sandman really did steal your work and present it to Jim (which I highly doubt since he is a regular and what seems to be an upstanding individual).


Mar 29, 2013 - 5:57pm

messed up

Dr Paul Craig Roberts, who is being liked more every day, did good, getting old, but you can tell the thinker still works well.

look at that kitco silver chart.

tell me that aint freakin messed up. A big X dead center indicating increasing volatility, with slam bam thank you mam borders.

Did atlas shrug? fireworks are a commin.

David Bowie - Suffragette city
Nick Elway TomMack
Mar 29, 2013 - 6:01pm

@TomM Silver dollar has more silver than 10 silver dimes

I visit before I visit my LocalCoinClub, Local Coin Store, or LocalCoinDealer.

At $28.28/oz for silver

the Morgan and Peace Dollars have $21.873 (24.057 grams) of silver

the pre-1965 dimes have $2.0457 (2.25 grams) of silver

The Dollars usually get an extra premium beyond their silver value and I don't know anybody that calls them "junk"

P.S. @Jake Love your posts on 90 per cent

Mar 29, 2013 - 6:16pm

BIGNASTY's Texas gold repatriation story

... has this statement:

However, he concedes transporting $1 billion worth of gold bars would be impractical, so he suggests selling the gold and repurchasing it in Texas.

My math says that it would weigh the same as a couple hundred people, which seems trivial to transport when compared to the cost and effort to sell and buy back that amount.

Can anyone point out the flaw in my thinking or calculations?

Edit: especially as it occurs to me that DT moved over 100,000 oz's of Ag in a Mini.blush

Mar 29, 2013 - 6:23pm


Not much time on the Good Friday so I'm going to skip gold because there is just more of the same/usual there. silver...

For the week, price was down 17¢ and total OI was barely changed. You'd think the CoT would be barely changed. You'd be wrong.

The LargeSpecs continued to plow into the short side. They dumped another 1200 longs and added another 2500 shorts. This brings their total gross short position to an amazing 26,144. Recall that just seven weeks ago, the total LSpec gross short position was 6,588. That is a four-fold increase...a seven weeks! Recall that, historically, the LSpec net long ratio fluctuates between 3:1 and 4:1 on average. As of this report, it has fallen to 1.44:1. The only other time I can ever recall it being this low was on the report of 12/27/11. Back then, sentiment was equally horrible and the LargeSpecs were long 24,026 and short 17,171 for a net long ratio of 1.40:1. What happened next? Silver rallied from $26 to $37 in nine weeks.

The SmallSpecs continue to mirror the banks and move against the LargeSpecs. This past week, their gross short position was unchanged but they added 1,248 new longs.

And, as you might imagine, The Cartel net short ratio improved again, too. The commercials, the Pit Locals, the Raptors, the Everybody-but-JPM crowd added another 550 new longs this week. This brings their total to another record astonishing 55,564 gross long contracts. Also utilizing the LargeSpec selling, The Cartel covered about 1,800 of their naked shorts. This reduction of the commercial net short position drops the Cartel net short ratio down to 1.43:1. Once again, the only other time I've ever seen it this low was on 12/27/11, when they were long 41,224 and short 55,356 for a net short ratio of 1.34:1.

If you want to see the 12/27/11 report for yourself, it's right here in Harvey's archives, along with just about every other CoT report for the past several years.

Additional historical data can be found here:

So, anyway, I'll simply state it again: The silver CoT is about as bullish as it can possibly be. Could price drop a little farther? Yes, of course it can. But we are truly pressing upon a spring here and there can be no doubt that silver is poised for a sharp move higher.

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Key Economic Events Week of 1/21

1/22 10:00 ET Existing Home Sales
1/24 9:45 ET Markit Manu and Svc PMI
1/24 10:00 ET Leading Econ Indicators
1/25 8:30 ET Durable Goods
1/25 10:00 ET New Home Sales

Key Economic Events Week of 1/14

1/15 8:30 am ET Producer Price Index
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1/16 8:30 am ET Retail Sales
1/16 8:30 am ET Import Price Index
1/17 8:30 am ET Housing Starts
1/17 8:30 am ET Philly Fed
1/18 9:15 am ET Capacity Utilization and Ind. Prod.

Key Economic Events Week of 1/7

1/7 10:00 ET ISM Services Index
1/7 10:00 ET Factory Orders
1/9 2:00 ET December FOMC minutes 
1/10 Speeches from CGP, Goons Bullard and Evans
1/11 8:30 ET CPI

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