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 North Korea? 6,000,000 ounces of "silver" withdrawn from the SLV?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

2x2
Apr 8, 2013 - 2:55pm

hat tip

Yeah - just tried to hat tip Pining, didn't work. On the bright side that gives me the chance to compliment you on the little details. Love Godzilla's t-shirt!

A while back you put together a collage of trolls complete with some an anti-PM quote for each. I remember one comment you stuck to an 'unfortunate' face was something like "You moran gold owners" Something like that, I can't remember the exact works except for the mis-spelt 'moran'. I thought: Typo or intentional? Figured, that is 100% intentional and brilliant! Beautiful details!

HAT TIP!

The Watchman
Apr 8, 2013 - 2:56pm

APMEX Message Regarding ASEs-Limited

Only $3.99 per coin over spot!
Available from the U.S. Mint for now, but they will be sold on a limited basis. Order yours from APMEX today while we still have them!

ancientmoneyTF
Apr 8, 2013 - 2:58pm

@Turd re: chew on this . . .

So what does all this mean? Either:

A. Silver investors are much smarter than gold investors, as they truly do BTFD, or:

B. The APs at SLV are using the self-induced low prices to stock up on that cheap silver they arranged for.

I would go with B.

Road_Scholar
Apr 8, 2013 - 3:05pm

Looks like Turd is going with Michigan tonight...

with the "M" added to the foam hat on the homepage logo. I guess I'll take Louisville and give the points

Apr 8, 2013 - 3:08pm

Thanks folks!

No worries on the HT's, just glad you got a smile from it!

Off topic- On another note, I'm not sure anyone posted this here, but in honor of our esteemed host (who is a huge Nebraska Cornhuskers fan), I thought I would put this up here- careful, it'll make you choke-up if you have a heart. Blythe wouldn't bat an eye, but for the rest of us, this is pretty cool / heartbreaking all at the same time:

Jack Hoffman is a seven year old boy from Nebraska with a rare form of brain cancer. He’s been undergoing chemotherapy, but still has some of the same interests as other young boys, and apparently Jack likes football. Some of the Nebraska Cornhuskers have sort of adopted Jack and wanted to do something nice for him. Now, it would be great for a kid like Jack to get a chance to go see a game with his new friends, but the Cornhuskers had a better idea.

Jack Hoffman is a 7-year-old brain cancer patient, but that didn’t stop him from scoring a touchdown in Nebraska’s spring game Saturday afternoon. Jack, who was diagnosed with cancer in 2011 and is currently on a break from his chemotherapy treatment, came into the game for a fourth-and-1 on the 31 yard line. With the help of some blockers, Jack ran the ball all the way into the end zone in front of more than 60,000 fans.

Jack Hoffman with a 69 yard touchdown in the 2013 Nebraska Spring Game
psi
Apr 8, 2013 - 3:08pm

@now chew on this...

Theoretically, GLD inventory need not rise and fall with the price of gold. It can start with one ounce & stay the same as long as buyers and sellers miraculously keep the price of GLD at lockstep with the price of gold.

Bohemian
Apr 8, 2013 - 3:10pm

North Korea Producing More Silvery Subs

"Over the last three years North Korea has significantly stepped up its production of submersible vessels such as midget submarines, according to an inside source. The sinking of the South Korean corvette ‘Cheonan’ in March 2010 by just such a North Korean midget submarine is said to have caused the authorities to appreciate the potential importance of such vessels to their asymmetrical warfare capabilities.

As such, there are suspicions that the recent North Korean decision to import more than 600kg of silver through China was done to facilitate the production of batteries for submersible production.

A North Korean military source told Daily NK on the 4th, “The [North Korean] Navy has been producing submersibles at every shipyard on their east and west coasts ever since the attack on the Cheonan in 2010.”

https://www.dailynk.com/english/read.php?cataId=nk01500&num=10463

hai
Apr 8, 2013 - 3:13pm
Louie
Apr 8, 2013 - 3:15pm

This is what silver shortage

This is what silver shortage looks like Fellow Turdites, It was just a few short weeks ago that we were debating the silver shortage and the premium on 90% "classic" silver. Just a few short months ago, you could buy "junk" silver for BELOW spot, because nobody wanted it! Just a few short years ago, you could buy Morgans to your hearts content at spot, or just above spot. Stacker gobbled up the Morgans first, then the Peace dollars. Then they turned to the 90% because of the low premium and the divisibility. Now the premium on 90% is $2.70 per ounce. Who knows if dealers are holding back ASE, or if there really is a shortage, BUT Louie's point is there is a growing disconnect between the spot price and the price at which physical holders are willing to deliver silver. The "Premium" will only grow larger in the days ahead.

Apr 8, 2013 - 3:18pm

More like the tech team is

More like the tech team is going with Big Blue tonight. We're Michigan grads, so we have no choice.

As for Turd, not sure if he's taking the points or not. He'll have to chime in.

Subscribe or login to read all comments.

Contribute

Donate Shop

Get Your Subscriber Benefits

Private iTunes feed for all TF Metals Report podcasts, and access to Vault member forum discussions!

Key Economic Events Week of 10/14

10/15 8:30 ET Empire State Fed MI
10/16 8:30 ET Retail Sales
10/16 10:00 ET Business Inventories
10/17 8:30 ET Housing Starts and Bldg Perms
10/17 8:30 ET Philly Fed MI
10/17 9:15 ET Cap Ute and Ind Prod
10/18 10:00 ET LEIII
10/18 Speeches from Goons Kaplan, George and Chlamydia

Key Economic Events Week of 10/7

10/8 8:30 ET Producer Price Index
10/9 10:00 ET Job Openings
10/9 10:00 ET Wholesale Inventories
10/9 2:00 ET September FOMC minutes
10/10 8:30 ET Consumer Price Index
10/11 10:00 ET Consumer Sentiment

Key Economic Events Week of 9/30

9/30 9:45 ET Chicago PMI
10/1 9:45 ET Markit Manu PMI
10/1 10:00 ET ISM Manu PMI
10/1 10:00 ET Construction Spending
10/2 China Golden Week Begins
10/2 8:15 ET ADP jobs report
10/3 9:45 ET Markit Service PMI
10/3 10:00 ET ISM Service PMI
10/3 10:00 ET Factory Orders
10/4 8:30 ET BLSBS
10/4 8:30 ET US Trade Deficit

Key Economic Events Week of 9/23

9/23 9:45 ET Markit flash PMIs
9/24 10:00 ET Consumer Confidence
9/26 8:30 ET Q2 GDP third guess
9/27 8:30 ET Durable Goods
9/27 8:30 ET Pers Inc and Cons Spend
9/27 8:30 ET Core Inflation

Key Economic Events Week of 9/16

9/17 9:15 ET Cap Ute & Ind Prod
9/18 8:30 ET Housing Starts & Bldg Perm.
9/18 2:00 ET Fedlines
9/18 2:30 ET CGP presser
9/19 8:30 ET Philly Fed
9/19 10:00 ET Existing Home Sales

Key Economic Events Week of 9/9

9/10 10:00 ET Job openings
9/11 8:30 ET PPI
9/11 10:00 ET Wholesale Inv.
9/12 8:30 ET CPI
9/13 8:30 ET Retail Sales
9/13 10:00 ET Consumer Sentiment
9/13 10:00 ET Business Inv.

Key Economic Events Week of 9/3

9/3 9:45 ET Markit Manu PMI
9/3 10:00 ET ISM Manu PMI
9/3 10:00 ET Construction Spending
9/4 8:30 ET Foreign Trade Deficit
9/5 9:45 ET Markit Svc PMI
9/5 10:00 ET ISM Svc PMI
9/5 10:00 ET Factory Orders
9/6 8:30 ET BLSBS

Key Economic Events Week of 8/26

8/26 8:30 ET Durable Goods
8/27 9:00 ET Case-Shiller Home Price Idx
8/27 10:00 ET Consumer Confidence
8/29 8:30 ET Q2 GDP 2nd guess
8/29 8:30 ET Advance Trade in Goods
8/30 8:30 ET Pers. Inc. and Cons. Spend.
8/30 8:30 ET Core Inflation
8/30 9:45 ET Chicago PMI

Key Economic Events Week of 8/19

8/21 10:00 ET Existing home sales
8/21 2:00 ET July FOMC minutes
8/22 9:45 ET Markit Manu and Svc PMIs
8/22 Jackson Holedown begins
8/23 10:00 ET Chief Goon Powell speaks

Key Economic Events Week of 8/12

8/13 8:30 ET Consumer Price Index
8/14 8:30 ET Retail Sales
8/14 8:30 ET Productivity & Labor Costs
8/14 8:30 ET Philly Fed
8/14 9:15 ET Ind Prod and Cap Ute
8/14 10:00 ET Business Inventories
8/15 8:30 ET Housing Starts & Bldg Permits

Forum Discussion

by Solsson, 8 hours 19 min ago
by Pete, 12 hours 11 min ago
by SteveW, 12 hours 54 min ago
by Phoenix79, Oct 17, 2019 - 6:28pm
randomness