Digging The Ditch

Mon, Apr 8, 2013 - 12:12pm

Isn't it great? In the world of leverage, rehypothecation and malfeasance, it's like Friday never happened. That lousy BLSBS, the crappy participation rate, all of it...never happened. Our blissful, fiat utopia chugs forward. For a few more days, at least.

I don't even know where to start on this fine Monday. The Yen? North Korea? 6,000,000 ounces of "silver" withdrawn from the SLV? Heck, let's just dive right in.

Here's a logical starting point. Santa's old pal, Yra Harris, has his own site and has written this insightful piece about the Japanese mega-QE. (Suddenly, I have this image in my head of an old, Japanese Godzilla movie with an horrific English overdub where Godzilla is a big, gansta-looking T-Rex with a big golden QE chain around it's neck, stomping on a senior living center filled with octogenarian Japs. Maybe Pining can cook this up for us?) Anyway, back to Yra's article. Read this now: https://yragharris.com/2013/04/07/billyjoel/

So, if Yra's right and, frankly, why wouldn't he be...Global bond yields are about to plummet and other currencies, particularly the euro, are about to rally. Thus, here are two charts of the euro. Keep in mind that, in general, rising euro = falling dollar = happy metals.

And there sure is plenty of disinformation out there, attempting to get you to sell your metal. One of my favorites is the continued "interest rates are rising" theme. Really? And which rates are those?? Here's a chart of the U.S. Long (30-year) Bond. Uhhh...rates rising? Not so much.

Speaking of disinformation...What's with all of the recent preponderance of worry and articles over confiscation? Why now? The metals bull market is over, right? We're all supposed to be selling our hard assets and safely moving back into paper, right? So, why all of the talk about confiscation? To me, it's just more disinfo, aimed at getting you to sell. Anyone spouting confiscation fear at the present time should be put on your "Disinfo Agent/Paid Troll List" and watched very closely in the future.

One guy who I know IS NOT a disinfo agent is Alasdair Macleod at GoldMoney. Here's his latest. You should read it. https://www.goldmoney.com/gold-research/alasdair-macleod/gold-price-suppression-the-game-goes-on.html

And here's some more Jackass for you, from the Greg Hunter website. It's worth a listen but I've already informed Jim that there's no way I'm going to follow suit and begin referring to him as "Dr. Willie". Maybe "Dr. Jackass" but not "Dr Willie"...unless, of course, I turn this into the TF Urology Report.

Large Widespread Cutoff of Supply Chains Coming-Jim Willie

And I've got this stray crude chart laying around this morning. As you know, we've been following along as it rallied to $98, then fell to $89 and then rallied back to $97. Well, check this out. I've not seen this anywhere before. Maybe it's something we need to keep an eye on going forward.

Finally, you're probably wondering about the title of this thread. Does it have any deeper meaning? Why, yes it does as a matter of fact. I announced in the comments of the Saturday thread that I had a new theme song. It's off of the new CD from the great Bruno Mars. The title is "Natalie" but when I hear it, instead of the three syllables of Nat-a-lie, I think "Blythe Mas-ters". Now, of course I realize that our old nemesis, The Wicked Witch, has moved on to greener pastures within The Morgue. Regardless, she's the one who put her face on CNBS a year ago and proudly proclaimed that JPM is "simply helping their clients" and that their positions are "fully hedged". Oh, really? Hmmm. Well, as President O'Bottom likes to say, the project is "shovel-ready". I hope to break ground by late next week.

Video unavailable

(And please, this is all metaphorical and figurative. I'm not threatening anyone with physical harm. Just like how Bruno isn't out there hunting down some ex-girlfriend named Natalie. It's just a song...and a darn good one, at that!)

OK, that's all for today. Remain calm and keep stacking.


About the Author

turd [at] tfmetalsreport [dot] com ()


Apr 9, 2013 - 12:12pm

A very busy morning

And so I'm just getting started on a new post.

Look for something by 1:00-1:30 EDT

Apr 9, 2013 - 12:17pm

Another Record Netdania volume 5.97 M

Folks, do I hear 6M ... going once ...

Apr 9, 2013 - 12:18pm

Netdania we have 5.98 M

Folks, do I hear 6M ... going twice

Apr 9, 2013 - 12:19pm

Netdania we have 5.99 M

Folks, do I hear 6M ... going three times

Apr 9, 2013 - 12:20pm

GSR anomaly

The EE tightrope act is quite spectacular. I have not heard how the media explains the out of wack GSR. I'm thinking they cannot let it back down to historical levels now, this would create a rush into more gold demand close to 30:1 even starting before that level. So now will gold go higher leaving silver or will silver drop some more, just hang at over 50:1 forever? I think the lumpen proletariat will not be permitted to obtain ze cheap gold in this way. Last weekend I ran into a dealer I know, nice fellow second generation in jewlery biz. He had told me a few months back when most were bullish gold would go to 1400 and silver low 20's. He kinda bragged about that call, but now he was telling me he could easely see 1300 and "gulp" 17 for silver...I stayed stoic and showed him the shark tooth I had just bought! He then added with a smile it would be a good a place to buy again( he's always bying anyway). He had to leave but I will get more from him on why he beleves this. This man has never heard of Santa, not even TF. On NoKo I think Kimmy Un just found out he's the sucker at the table and is about to trow his drink all over the cards. Is silver investment demand 5% of total silver demand, is this right?

Apr 9, 2013 - 12:20pm

Netdania 6M is gone

and on it goes

Apr 9, 2013 - 12:25pm

Redeemable Merk Gold ETF Closer To Launch

Redeemable Merk Gold ETF Closer To Launch

"It's designed to allow investors to track the price of gold while being allowed to convert their shares for physical gold upon request. That convertibility is innovative to the extent that it will allow smaller retail investors in the trust to take delivery of physical gold in exchange for their shares."


Apr 9, 2013 - 12:25pm

Embry ....

Social unrest, loss of morals, QE to infinity, but on a global scale.

He is straight shooter, sounding familiar, though Im sure he'll get no tips.


retesting 28 ....

Apr 9, 2013 - 12:34pm

Another interesting chart from Nick Laird

This was posted in yesterdays Ed Steer email. https://d1w116sruyx1mf.cloudfront.net/ee-assets/gsd/yesterday/Total_PMs_... Ed's email also contained this link: How the US herds the ‘sheep’ away from the gold market "The egregious conduct of the giant banking establishments could never have been allowed to occur if they had been subjected to the discipline of gold. Those who consider that gold has use only as adornment suffer from a conspicuous lack of imagination. It cannot be seriously disputed that the US administration intervenes to suppress the price of gold. In this way, investors are to be herded, like sheep, into the investment forms the administration has chosen for them. Sociologist Max Weber observed that the state was in essence a criminal institution with the power of law. His pronouncement appears as apposite now as ever." https://www.bdlive.co.za/opinion/2013/04/08/how-the-us-herds-the-sheep-a...

Apr 9, 2013 - 12:40pm

Stocks seem to be poised to

Stocks seem to be poised to move higher with strong USD and metals moving higher as well. Seems the reason for stocks/bonds is just QE, for metals physical buying. They can run parallel, the relatively strong USD, high stock/bond prices, higher PM's. The strange effects of combination of weak economy, BANK collapses and new ways they are rescued, and QE. CPI not involved yet. If Comex does not want to close, as ABN Amro , the gold trade, as their inventories are run down, they need to raise the gold price.

Apr 9, 2013 - 12:45pm

Silver Volume

Anyone notice how silver shot up and then continued to inch higher even as the volume diminished? Very interesting. I think that is telling us that there is short supply available at the current prices and more purchasing interest (or forced cshort overing) will dive prices higher very fast. And then we will see that short squeeze really ignite. The fuse is there for an explosion of higher prices, now where is that match......?

Just my thoughts. FWIW.


Apr 9, 2013 - 12:46pm
Apr 9, 2013 - 12:46pm

is this a jesus moment?

Is this the Jesus moment?

The CB's are losing their shirts as they print more.

The hedge funds have no choice here.

Soros is a lying SOB.

Apr 9, 2013 - 12:47pm

Netdania Tick Volume

It is running at 2500. I don't think the units are the same as on the minute and daily charts. However, at 2500 it is very high. I recall days when I thought 50 or a 100 was high, and then days when 500 was high. What does this say about the spot market? Is this the result of HFT? Is it the sign of desperation?

Apr 9, 2013 - 12:54pm

Silver buyers

are not buying Comex contracts to obtain physical silver. Those who need silver, know it will not be can't be delivered at expiration on the Comex.

The Vet Nana
Apr 9, 2013 - 12:55pm

Comex Gold Inventories Collapse By Largest Amount Ever On Record

Add in the even greater quantity of metal that has left GLD by redemption over the same period, and it becomes a huge quantity that has left the usual western depositories and disappeared for parts unknown..

Is it adorning Indian brides? Could it be buried in Chinese backyards? Is some other CB secretly buying? The Chinese government don't officially admit to buying it, but then they don't really deny it either...

Apr 9, 2013 - 12:59pm

Georgia Guidestones

Ah, the days when you had to troll in rock...

Apr 9, 2013 - 1:03pm

Bruce Willis a Closet Stacker?

While we await the new TF Post, this is fun. Click all the way through Bruce's closets until you get to Candy Spelling's mansion. Candy's palace makes Bruce's home look like a cottage.

Tour Bruce Willis Idaho Home For Sale - Pics

Apr 9, 2013 - 1:07pm

Canadian Bank Derivative Exposure

@ Monkry Many thanks for posting the link.

Far and away the Gross exposure seems to lay with The Interest rate contracts making up 14.98 Trillion dollars worth of exposure. This certainly gives one pause when LIBOR rigging enters the scene. How anyone can have confidence in the banks when even the big banks were getting ponzied with LIBOR rigging?

The ETP Gold Contracts are very small in comparison to the Forex OTC contracts. 52.8 Billion for the gold ETPs and 3.789 Trillion in exposure to Forex...I am sure that at least 1 Trillion of the Forex exposure is owned by the Canadian government due to the financials I read a few years ago.

Sure hope the "rainy day fund" the Liberals think is so neat is sufficiently large. And WTF do they think I am am retarded?

Seriously they used "rainy day fund" when communicating on an EXTREMELY IMPORTANT topic. Rainy day fund sounds like beer money...and I hope its more than that!

Prize Fighter
Apr 9, 2013 - 1:25pm

AAPL gap story.  A friend of

AAPL gap story. A friend of mine is a small stacker but mostly a paper gambler. Pink sheets, IPOs, AAPL momo, you name it. Over the past year he kept goading me about AAPL's rise, especially when it went over $600 because back in the day I bought it at $80 and sold at $120 thinking I was a genius. (Don't be jealous, that lone win was crushed by my other losers.)

After my conversion to fundamentals and sound money AAPL was, of course, unstoppable. Enter my nitwit friend at $450. I warned him of a large gap at $420. At $600 he was laughing at me. I'm not laughing at him now but just wanted to show my infatuation with gaps doesn't stop with just silver but even AAPL. Is it a coincidence the price has paused around this price point??

I hope this link to the candlestick chart works as the default is a line and I can't figure how to capture Yahoo stuff. The gap is around Jan. 20, 2012 in case it doesn't work. FWIW, it looks like there is another AAPL gap around $390.


Edit: If I want to get brutally honest and nasty....there are gaps ~ $175, $155 and $142. Never looked until just now. If those ever filled, I doubt AAPL would be the sole headline that day.


Apr 9, 2013 - 1:25pm

Saw this quote today

and thought it appropriate for Turdites. What I like about this site is the level of discourse and civility (most days) when discussing topics



Stack till it hurts, then stack some more

Apr 9, 2013 - 1:33pm

Wow. Only 12 cents rigged off the silver

price at the close. Hopefully we go up slowly in electronic trading.

Apr 9, 2013 - 1:56pm


assay this!! just a tid-BIT. You Bet!

Do you want fries with that. Sure, What's the numnut value? Ill look it up.

Running out of junk, at last call 5$ premium, aint that special.

US Mint, thy UNITED STATES MINT, out of supply, shut down, OMG!!!!, now we're all talking.

SteveW Green Lantern
Apr 9, 2013 - 4:22pm

GL is a meson

That explains everything, but is he really neutral or charged?

"He even sends pions like me Christmas Cards."

Apr 9, 2013 - 4:30pm

Re: Planting Outrageous...

Bsong: "planting outrageous suggestions in the public conscious, and then following through and executing said suggestions, is an effective PR-hypnotic technique. Confuses and defies the publics conscious. Leaving the plotter less resistance."

alan2102: This isn't some grand evil conspiracy (maybe it is?), but this article is a good example...

"Chelsea Clinton opens door to run"


​So, Chelsea Clinton gets a cushy job at NBC doing fluff news, one of her NBC colleages asks her the question "they" want to be asked in a set up interview. (Who wants to hear about her?) "The interview was part of an ongoing roll-out of Chelsea Clinton’s public persona." Roll out of her persona??? Then Politico picks it up and makes it look like some credible news? Total PR stunt to make it look like Chelsea could be a viable candidate for something.

Too bad the commentors aren't buying it. ;-)

Now search google and the story is picked up everywhere. Today (NBC) of course, Vanity Fair has her running for president! Instant "credibility"!??? ;-(

monkry Hagarth
Apr 9, 2013 - 4:32pm

Hagarth-Thanks must go to

57Goldtop & surfeitndearth for posting the link.

I simply asked the question.

Apr 9, 2013 - 5:12pm

Okay...commendations to:

57Goldtop and surfeitndearth and monkry for asking the question!

It can be difficult trying to find the right page and who posted the info so I appreciate the heads up.

Bsong George Clooney
Apr 9, 2013 - 6:43pm


You're right it makes no sense. It's like stating the obvious. So yes, it seems they tell you what they're going to do and then do it. Yet many people don't see it. So maybe Mr. Fix is saying pay attention.

hz old tradesman
Apr 9, 2013 - 9:17pm

@old tradesman re Obama in Kenya pic

I know you didn't create that 'Obama in Kenya' image, but it should be "its idiot" (not "it's"). Looks like wherever the creator of that came from is missing an idiot too.

FYI I hate nearly all politicians so not defending Obama with this correction! Just saying people should be extra careful when going to the trouble of creating an image calling someone an idiot.

Apr 11, 2013 - 8:41am

Volume says banksters all in.

Netdania daily on volume spikes, beginning mid Feb and accelerating up, says silver in it's paper death throws. The death rattle is over; rigor setting in, and some twitches left. banksters know the gig is up! Furry pawed clawed, extremely flawed rat bastards are naked short, swaps, & derivatives, as if there's no tomorrow. 99.9% certain the criminal house has no accountability. Current global financial structure to disappear. Pick any date before June 1st with 5/20 a mayan date, as Arch Crawford has pointed out with his '87 crash call. Bow wow dow ok corral, says it huffs, puffs, and bluffs into an epic financial iron curtain extended bankstering holiday. All greater sheeple fools corralled. Time to silence the lambs.


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