Digging The Ditch

330
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 North Korea? 6,000,000 ounces of "silver" withdrawn from the SLV?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.

TF

About the Author

Founder
turd [at] tfmetalsreport [dot] com ()

  330 Comments

hai
Apr 8, 2013 - 1:33pm
punchbowl
Apr 8, 2013 - 1:50pm

Dr. Willie

To be clear Jim Willie is a doctor. He has earned a PhD in Statistics. Ergo Dr. Willie.

Apr 8, 2013 - 1:56pm

Why the price of gold in Yen does matter

The major currencies have been tracking each other, in decline against gold, very closely. The Japanese intend to double their monetary base - it won't happen in isolation.

Bugzy
Apr 8, 2013 - 2:03pm

Exactly

What XTY said

SilverSurfers
Apr 8, 2013 - 2:08pm

Santa is a singer

Where the heck is the <sarc> button. I must be getting old ....

Video unavailable

Its a conspirancy, FOR SURES, they use 9/11 truthers to distract away from the bond bubble, those guys, ..., as clear as day, on your nose. THIS JUST STINKS!!!!!!

Billy Joel - We Didn't Start The Fire (with lyrics)
treefrog
Apr 8, 2013 - 2:16pm

punchbowl,

if you lay ten thousand statisticians end to end, you can reach ...any conclusion you want.

knavechild
Apr 8, 2013 - 2:24pm

Whoa.

"Trust in Gold Not Bernanke as U.S. States Promote Bullion"

"Distrust of the Federal Reserve and concern that U.S. dollars may become worthless are fueling a push in more than a dozen states to recognize gold and silver coins as legal tender."

Oh yea baby, bring it.

https://www.bloomberg.com/news/2013-04-08/trust-in-gold-not-bernanke-as-...

-Knavechild

BC6
Apr 8, 2013 - 2:24pm
ancientmoney
Apr 8, 2013 - 2:28pm

Silver COTs . . .

Commercials are net short 92,500,000 oz. Of those in the Commercial category, the Producers/Merchants class (JPM is biggest) is net short 145,215,000 ounces.

The other class of Commercials, the Swap Dealers are net long by 52,700,000 oz.

JPM, et al, are the driving force behind the enforcement of the $26-$32 range silver has been in for two years now. It seems JPM is the only entity that is bearish on silver. The fact that they also have unlimited funds at their disposal helps them maintain that bearish position against all odds.

Apr 8, 2013 - 2:30pm

Godzilla II

"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 Japanese. Maybe Pining can cook this up for us?"

Back after lunch, here is a real attempt at it: Go Godzilla!

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