From Here, Where?

Sat, Apr 13, 2013 - 3:59pm

I've been thinking since yesterday about what I should write today. My first idea was to overwhelm you with information. Charts, data, links...the usual stuff, only more so. Then it dawned on me...that's probably not what you want to hear right now.

Besides there are all kinds of other websites out there where you can get that stuff. And today, I'm not too concerned about technicals. You see, my obligation is to you and to the other 28,939 unique IPs that hit this site yesterday. What do you need to hear? Or, put this way, if I was in your shoes, what would I want to hear from Turd this weekend?

Therefore I've decided, at least for today, to dispense with the charts and the links. I'm not going to mention the info that Andy shared on KWN or the fact that the GLD incredibly shed another 22.86 metric tonnes of "inventory" yesterday. (That's another 1,840 bars or 10 of my pallets, by the way.) Nope, none of that. If I were you, I'd want to be reassured that this wasn't all just a big crock of shit. All this gold stuff. All of the new reserve currency stuff. All of the Cartel manipulation stuff. All of it. I'd want to know that I hadn't been snookered and taken advantage of. I'd want to know that all of these "internet people" that I follow aren't simply making stuff up as they go along. And I'd want to know that they're sincere and that they're just as frustrated as I am.

So, I guess I'll start with myself. I think everyone knows this but I'll state it again: I'm just a nobody. I live in the American Midwest and my entire life has been spent doing pretty-much normal stuff. About five years ago, I quit the "corporate ladder" and pursued a path of independence. In 2009, I discovered ZeroHedge and the rest, as they say, is history. I now find myself in the middle of a global struggle against elements of the established central and bullion banking order. Suffice it to say: It's a surreal existence and not one that I could ever have envisioned. But I'm here now and waist-deep in the fight. Does this make me infallible or all-knowledgeable? Of course not. But I do my best to share with you, my dear reader, as much information and insight as I can.

The past eight months have been the most challenging. Not only have I lost all remaining faith in the idea that Americans live in a self-governing, representative republic, I've also been privileged(?) to witness first-hand some of the true depth of the corruption. Concurrently, I allowed myself to be totally caught off-guard by the ferocity of the attack on the precious metals after the announcement of QE∞. At this critical time, I should have anticipated that all necessary measures would be taken to discourage the ownership of any form of money other than fiat currency. In failing to recognize this contingency, I failed you, my dear reader. Though I am 100% confident in the accuracy of my predictions of "the end of the Great Keynesian Experiment", I failed to recognize that this current beatdown was both predictable and inevitable. I hope we've both learned something and that we both are able to keep from making the same mistake in the future.

But mistakes will still be made and the point of this post is to assure you that I am on your side and doing everything in my power to help you prepare for what is inevitably coming. I do so with all sincerity of purpose and the cloak of this responsibility wears heavily upon my soldiers every day. Just ask MrsF or the LTs. They'll tell you how they often catch me staring blankly off into the distance, seemingly detached from the moment. "What are you thinking about", they'll ask. "Oh, dear, where do I begin...". But that's OK; I'm not looking for sympathy. I just want you to know that I, and most everyone else I've had the privilege to meet within the metals "community", truly believe in the cause and we are doing our best to help as many as possible.

I've often said that the greatest thing about "being Turd" is the access this grants me and the friendships and contacts that I've been able to make, so, please indulge me this. As stated above, this post is not about me. It's about what I assume must be on your mind this weekend. Namely, is this real and are the people with these websites trustworthy? For what it's worth, here's some of what I know (with apologies to anyone I mistakenly leave out):

  • Jim Sinclair (Santa): JSMineset was the first metals website I ever visited. That I've actually gotten to know Jim a little bit is a great honor. I've known a couple of NYSE-listed CEOs is in my life and Jim is no different. He smart and wise. Measured in his words but with a vision. Under no circumstances does he need to publish JSM but he does. Why? Because he cares. Period. He firmly believes that he can clearly see what is coming and he's trying to use his platform to warn as many as possible. You can trust and believe in him because I do.
  • Andrew Maguire: Not sure where to start and I'll try to keep this brief. Andy is a true gentleman and staunch ally of all of us. Sort of like Jim Sinclair, he doesn't need any of this but he's sick of the injustice and the inequity created by the bullion banks...and he's fighting back. Even though we've never met, I've come to trust him implicitly.
  • Ned Naylor-Leyland: I don't think you could find a nicer guy on the face of the planet. Again, just like so many of us, Ned's sort of had this stuff thrust upon him. But he's an eloquent spokesman for our cause and I've come to value him as a friend.
  • Jim Willie: You may think that Jim has some crazy theories. I know I do. But please do not doubt his intellect, his intuition or his sincerity. The guy is a true visionary and I have no doubt that, one day soon, he will be vindicated and treated as such.
  • Bill Murphy and Chris Powell: The veteran soldiers of the movement. Though Bill might seem a bit of a loose cannon from time to time, he's a good man and tireless campaigner against The Cartels. Chris is a solid, upright and honest man whose commitment and integrity benefits all of us.
  • Ted Butler, Ranting Andy, Mike Krieger, Jim Quinn, Kerry Lutz, Dave Janda, David Morgan, Alasdair Macleod, Jeff Nielson, Detlev Schilchter, John Williams: All of these guys either write newsletters or offer paid subscription analysis and I have either met them in person or made their acquaintance via Skype. All of them provide a valuable resource and all of them are doing everything they can to help the cause. I feel I can personally vouch for them and I strongly recommend that you trust them, too.
  • There are many others but, for the sake of your time, I'll stop here.

I could go on but I don't want to turn this into some kind of LoveFest. The point of this is what I stated above. Though you should always question the things you read, do your own research and due diligence, I wanted to pass along what I know to reassure you about the gold community and those involved within it. I hope I've done just that.

Please utilize the rest of this weekend to get some much-needed rest and relaxation. To me, it's quite clear that we have entered the final chapter of bullion bank hegemony and the days ahead are only going to get more volatile. You're going to need information and wisdom to see your way through it so I hope that this post has been a valuable use of your time.

See you Monday.


About the Author

turd [at] tfmetalsreport [dot] com ()


Apr 13, 2013 - 10:43pm

The named it after Count Dooku?

So they named it after Darth Tyranis

القراع عصفور
Apr 13, 2013 - 10:45pm

Kennecott open pit mine

wow SRS. i visited that mine a few years ago, and to this day am awestruck as to the size of that hole in the ground. (it can be seen from space) the monster trucks in the pit looked like matchbox toys from the observation area. there is good news. no one was even hurt. and this may be a lucky break for the longs. price is set at the margin, and this mine provided 13% of the USA's copper. so i believe this will turn copper, which has been in a worrisome decline. this will make it much more difficult for the thieves to keep silver down.

thank you for the news SRS. oh, and how do you pronounce Tooele again

Apr 13, 2013 - 10:48pm


Darn you and your video links...that's hitting below the belt a little too hard....

Fantastic dancer, great music....can't get it out of my head now!!

Apr 13, 2013 - 10:55pm


Love all of you! (mostly ;-)

Go check the tunes at the Speak.


Turkish Belly Dancer


Monedas ¤
Apr 13, 2013 - 11:00pm

That's not fair ! (Wow, that sounds so liberal, yuck !)

If you're gonna be a good sport .... Ill go fuck with easier prey .... where's Katie hiding ? (I was right on about the Famous Moderates In History .... courtesy of Rush !) Monedas 1929 Comedy Jihad If They Admit They Are Middle Of The Road .... You've Got 'Em On The Run World Tour

Apr 13, 2013 - 11:01pm

Kennecott says, "Hey Bart",

Kennecott says, "Hey Bart", "you sabotage price discovery, we sabotage supply".

Apr 13, 2013 - 11:07pm


Thanks for the link. I'm about to go read it in full.

I think you're right about it not going unnoticed. I wonder what the pushback might be?

Or is it already happening by having Korea and China somewhat encircled and being on DEFCON 3?

Time for a cold brew....goodnight crew.

القراع عصفور
Apr 13, 2013 - 11:11pm


according to the Doc at

this pit provided 10% of US silver supply too!!! oh my, the shorts will burn Monday, and quiver lips Bernank is going to crap his! (shorts)

my oh my, the Lord does work in mysterious ways

Operator 14
Apr 13, 2013 - 11:12pm

R man J

4. GPS coordinates to stack.

Apr 13, 2013 - 11:16pm

Comment at Zerohedge - Very very interesting !

Sat, 04/13/2013 - 22:19 | 3445772


If the physical gold market in London was locked on Friday, as per this report, here is the smoking gun of an orchestrated takedown. This needs to be exposed, if verified.

Apr 13, 2013 - 11:18pm

I don't think the shorts will

I don't think the shorts will be burning Monday. Maybe Tuesday, but Monday will see the big capitulation driven by weekend margin calls, at least according to this:

Apr 13, 2013 - 11:19pm


Re Cu and Au, Freeport is still having labour problems at Grassberg AND The Indonesian Government is demanding local smelting AND turning majority control over to Indonesian interests. I wouldn't rule out a "Mine accident" there either!

Apr 13, 2013 - 11:21pm

Yes Monday seem very probable

yeah I decided to delay buying until Monday because of the margins and because of Andy's feel there a few more days before it would potentially rebound.

Spartacus Rex
Apr 13, 2013 - 11:23pm

Just a Thought.

Since the Fed / U.S. Treasury / PPT, along with JPM / TBTF’s etc., & the MSM is so hell bent on convincing the sheople that PMs are now a losing alternative versus the fiat denominated Markets, Bonds & Currency, let’s have some Real Fun and swamp the aforementioned emails and editorial depts. (this weekend and taunt them into giving us some bigger dips to take advantage of.

Seriously, who among the faithful stackers herein are already worth their weight in Gold, that would otherwise forego any greater exchange value between PMs / fiat, or otherwise feel they are simply not up to playing the psyche game just as well if not better than the other side?

And since Black Bart’s email has already been given herein, let’s all ask him if he would be willing to persuade JPM to show us what it’s really made of and Pour It On next week because we are all suckers for these bargains!

Let’s All Pray that they actually can walk on water and perhaps even produce PMs out of “thin air” as I for One, would like nothing more than to be able convert fiat into AU @ “$42.22” and / or into AG @ “$1.29”

We’re All either “Stackin” or “Slackin” & I actually enjoyed having the extra fiat left over to buy a bottle of the TOP shelf after adding to my Stack this Weekend!

Maybe next weekend, two bottles, or otherwise simply too good too last?

القراع عصفور
Apr 13, 2013 - 11:25pm

i will be buying silver tomorrow

10 percent of US silver supply gone! this is the game changer. if i were short silver, i would spend tomorrow at church, on my knees, praying for salvation. and i don't even attend church.

Apr 13, 2013 - 11:31pm

Gator lost his mind

Johnny Horton: The Battle of New Orleans
Apr 13, 2013 - 11:34pm

What is interesting about Kennecott

Is that it occurred on the 11th, and the big take down was yesterday the 12th. You would think this would have been news on the business channels. Imagine the people that were aware of the collapse THURSDAY that went long!

Apr 13, 2013 - 11:34pm

Gold Confiscation

This is the modern version of FDR's Gold Confiscation.

Once the confiscation (or as best they can do) is complete, PM's will be re priced, just like in 1933.

Be patient (perhaps VERY patient) and don't do anything silly.


Texas Sandman
Apr 13, 2013 - 11:36pm

Physical supply has nothing to do with it.

Not with a 10% decrease in supply.

They just print up some more naked shorts & away they go.

But if 10 million people each bought 100 ozs of physical (just 100 ozs physical silver), or a million "wealthy" individuals each bought 1,000 ozs the whole thing would go tilt.

Raising margin requirements in the futures would do no good.

We need for all physical silver to simply disappear. I mean, 41 million ozs in the comex vaults is tiny.

That would shut the economy down.

Apr 13, 2013 - 11:38pm

I am pretty sure I can get bars

If I order Monday or Tuesday I feel confident I can get silver bars. Maybe there is some delay but while market is tight its not dead. Yet. Now rounds I am a little iffy on, especially since some say they are out of bars. But sold out is not the same thing as unavailable. Sold out is about inventory getting caught by surprise. The delays are mostly on rounds , but they arrive implying a tight market. Once we see the kinds of delays on 10 or 100 oz bars that we see on ASEs and old monetary silver then you can panic and/or dance a jig.

Apr 13, 2013 - 11:42pm

Want Roosevelt Dimes? APMEX had two $500 bags.

90% Silver Roosevelt Dimes - $500 Face Value Bag Approximately 357.5 oz of pure Silver! This 5,000-coin bag of Roosevelt Dimes contains coins dated between 1946 and 1964 in Av... view more Average Rating Availability: Now Back In Stock Hot Item Volume Pricing: Qty Check or Wire Credit Card 1 - 2 $11,602.10 $11,950.16 3 or more $11,552.10 $11,898.66 That works out to: $6.60 over Spot.

Apr 13, 2013 - 11:54pm


The London gold market is an OTC market, which is principal-to-principal. Even if the computer system is down, you still have telephones and loudspeakers, through which you can do business. Unlike the Comex, you know the names of the counterparties with whom you do business.

Apr 13, 2013 - 11:57pm

over 25% premiums...

so we are now well over 25% premiums..... about what it was on the dip in '08

Apr 14, 2013 - 12:00am

I've looked around and there is still not much out about Kenneco

This is BIG NEWS!

If SRSrocco hadn't mentioned it here NONE of us would be aware of it.

SRS, I know you live 30 minutes away, but don't you see this as a national coverup?

America is flooded with crap 'information' but serious things like this don't even make the MSM business 'networks'.

I'm beginning to wonder if this information isn't also part of the take down on Friday. News like this could have sent the futures UP. Couldn't have that.

Price controls always create shortages.

Apr 14, 2013 - 12:04am

supply does matter sure, but the impact is not tomorrow

It would take some time for the 10% supply drop to truly hit. Yes it does matter but not on that time of 1 day. 1 month sure. 1 day I doubt it.

Strongsidejedi Texas Sandman
Apr 14, 2013 - 12:04am

@Texas Sandman


The fluctuations in the gold price or silver price on Comex can continue to show great volatility regardless of the status of the Comex inventory. This was the statement made by Jim Sinclair going back to 2005 or earlier.

Sinclair was talking about the decoupling of Comex inventory and true physical markets about ten years ago. I was following Sinclair since about 2003 or so.

Your numbers on silver are clearly correct. The removal of silver and gold to the people (i.e. average citizen) is a great thing for the nation.

If you are the Federal Reserve and need to get liquidity into the population, the sales of gold and silver to the market is a good thing. You are side stepping the bank blockade and shifting a significant part of the economy into the gold and silver market by having artificially suppressed interest rates.

At these current rates, the market has many individuals who would rather shift to "junk silver" in order to hold coinage and to hold silver as a hedge against inflation.

This would not occur if we were getting 7% in a Certificate of Deposit. The drainage of deposits from the banks is the bank's choice. If they want more deposits, they can offer more interest rate on the deposits. Those banks don't offer higher interest rates because the Federal Reserve is willing to inject more billions into the TBTF banks at an essentially negative rate.

Apr 14, 2013 - 12:11am

@ thesandbox on April 13, 2013 - 11:57pm.

Sandbox, while I am amazed at the cleanout of the shelves of the online stores and the premiums placed on the remaining inventory I don't agree that the R dime price should be a representation to compare to 2008. Although, that said, this is starting out the same way and 'might' be developing much quicker.

I don't see this as good or bad news, but just news that the real market now has enough participants to diverge from the fake market.

The metals market is at a great disadvantage to other businesses when it comes to just in time practices, but inventory laws make them play the game so they try.

I doubt there is much excess in the pipeline today, and a 10% hicky on production isn't going to help future deliveries.

القراع عصفور ctob
Apr 14, 2013 - 12:16am


ctob said, "It would take some time for the 10% supply drop to truly hit. Yes it does matter but not on that time of 1 day. 1 month sure. 1 day I doubt it."

i disagree...

what is a futures contract?! what is it's underlying purpose? of course this news can, should, and will have an immediate effect on price! if the markets function at all. and the miners all should get a boost, except for Rio Tinto of course. the stock market is supposedly a discounting mechanism. what that means is that future earnings are discounted to present value. a competitor, and a major one at that, has been taken out.

Apr 14, 2013 - 12:20am

Local info

on the copper mine landslide...

القراع عصفور
Apr 14, 2013 - 12:21am

supply does matter

10 percent of physical is huge in a leveraged paper market. i think it's time for a hat contest. this Kennecott news is the turn!

i wouldn't buy yesterday or today over 29. tomorrow i will buy below 30. APMEX can go get stuffed. they are just way too expensive. i hope NWT has some shiny left tomorrow. most of the local guys will be closed - not that they had much left anyway. i probably should go shopping tonight, but i need some confirmation of this story from other sources - especially the production numbers of that pit. i'm just too tired tonight.

i may regret waiting, i may regret not paying APMEX price too. oh well, i've been all wrong for two years straight, what's one more day.

Karankawa - you are so right. yesterday probably never would have happened. there were at least two rally attempts that were beaten down mercilessly.


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