Where's The Tylenol?

Sun, Apr 14, 2013 - 11:31pm

So I try to have a "normal" day. The kind I enjoyed pre-Turd. Took MrsF and LT#2 to an amusement park and had a few laughs. After dinner, I spent about 45 minutes talking to MamaFerg, getting caught up.

Then I think to myself..."Self, you should down to your office and get a few things in order before the morning". I open up the creaky, old MacBook and....

This is comical to the point of being absurd. That this has been allowed to happen is breathtaking in its audacity. One day soon I hope to see the bullion bankers and their CFTC accomplices held accountable for their actions. That may seem tonight like the quixotic fantasy of a hopeless dreamer. Perhaps it is. I don't know.

What I do know is this: Right now, right this very instant, bullion bank traders are gleefully lapping up the paper metal being created and sold by the greedy spec shorts and the pathetically-crushed spec longs. As I type, I have no doubt that by sometime later tonight or Monday, the commercial category in silver will move to net long, perhaps even substantially so. The Gold Cartel has likely seen it's net short position fall to the lowest ever recorded. Maybe even to 1.5:1 or further. And how many of you have consistently said: Boyohboy, if/when the time ever comes that The Silver Cartel is net long, THEN THAT'S THE TIME TO BUY!

Well, it's happening right here and right now, in real time. Look, I obviously don't want anyone out there trying to trade this nonsense. I've cautioned everyone against trading for what, 18 months now? How ever long it is back to the MFG collapse & theft. People have asked me why I'm so light-hearted about this. Mainly it's because I don't have any skin in the game. Well, I guess I do...I have 3 July silver calls that cost me a whopping $800 or so. Big whoop. My stack of metal looks just fine (through the underwater camera) and I plan to add to it again tomorrow...should I actually be able to lay my hands on some physical. None of this changes the long-term plan and role of precious metal in the future global currency regime. And none of this causes me to question the role that gold and silver are playing in protecting my personal financial well-being from the destructive powers of the central banks and the central planners.

Soon, this craziness will reverse in breathtaking fashion and price will rebound nearly as quickly as it has collapsed. Of that, I'm 100% certain. Shanghai and London are going to see record physical days on Monday and that real metal will shortly have affect a dramatic turnaround in price. In the meantime, try to keep your wits about you tonight and enjoy the fireworks. If you're not on margin, what's the big deal? Just kick back and enjoy the show.

Time for some sleep. See you Monday. Gee, I wonder what the price of gold and silver will be then???


About the Author

turd [at] tfmetalsreport [dot] com ()


Apr 14, 2013 - 11:35pm


LOL guess not

El Gordo
Apr 14, 2013 - 11:37pm

Buy buy buy

Buy. And a first every first time first. BTW, did mention now is a good time to buy?

Mr. Fix
Apr 14, 2013 - 11:38pm

Somehow, they left manipulation out of their explanation.

Gold, Silver In Asian Liquidation Mode As China Growth Slows More

Submitted by Tyler Durden on 04/14/2013 - 22:02

UPDATE: Spot Gold $1426 (from $1564 highs Friday)

As Asia opens to the bloodbath that occurred in precious metals on Friday in the US, it would appear that more than a few traders got the 'tap on the shoulder'. Shanghai futures are limit-down and spot gold and silver prices are plunging once again as we suspect forced margin-calls and the raising of cash (to cover extreme variation margin - or capital reserves) needed in JGB positions, as we explained here. Liquidation is certainly the theme of the evening - investors are selling JGBs (6th day in a row of multiple-sigma moves in long-dated Japanese bonds 30Y +56bps off its post-BoJ lows at 1.60%!), selling Japanese stocks (Nikkei -128 pts, second biggest down day post-BoJ), selling US Treasuries (futures down), selling gold and silver (gold spot down over $100 from Friday's highs), and despite selling JPY early (retracing 30% of the weakness post-BoJ), JPY is practically unchanged (jerking lower only on the US futures open and Asian equity open) - it seems Mrs.Watanabe is struggling and unwinding some her excessively short JPY and long NKY positions... and post the China data (4-for-4 misses), everything is red - JGBs down, Japanese stocks down, US Stocks down, US Treasuries down, Gold and Silver down, Copper down, Oil down, Rubber futures limit down.

Apr 14, 2013 - 11:39pm


copper = bronze?

@ Mr. Fix - More!

cliff 567
Apr 14, 2013 - 11:39pm

Damn I think this is it

I've got a feeling that Clif High and Mr. Fix's predictions may be writ as gospel hence forth.

Come on funny feeling.

Apr 14, 2013 - 11:39pm

Here's to continued hoping

Here's to continued hoping for the final paper breakdown that leads to the next stage of the game, where we profit from all this nonsense.

pink freud tmosley
Apr 14, 2013 - 11:40pm


positive energy to you TF!

Apr 14, 2013 - 11:43pm

AU 3000

Massive Chinese QE...

Mr. Fix
Apr 14, 2013 - 11:45pm

Thank you for the new thread,

 I share your “ quixotic fantasy of a hopeless dreamer”.

 I think at some point, these people will be held accountable for their crimes, but I fear that many millions will die in the process.

 There is so much more going on than the theft of the world's population's life savings.

 These guys are about to unleash a game changer that is going to come back to bite them.

( But they are going to do what they can to take a bite out of us first.)

Apr 14, 2013 - 11:46pm

It's gonna be perfect timing for the Hampton Set......

sell and short in May..and go away.... yeah! the beach! Where did i park the Bentley?

Be Prepared
Apr 14, 2013 - 11:47pm

The Markets are..... Off!

Of course, when haven't they been...

This is craziness, but it also just like when a boxer has his opponent cornered and he starts pummeling him into oblivion....he will keep throwing his hardest punches because he knows.... if he lets up even for one second.... he will have no energy left to win the fight. We have been backed into the corner and they are throwing everything at us.... and it SUCKS! This too, though, shall pass because this is not a fight they can win. You are going to get rich here, my friends. What you will do have have is the ability to move and make decisions with a higher level of independence than those that suckled at the teat of TPTB. This game is a mental state of being.... the cool heads that understand why they have done what they have done and know where they want to go.... will be able to make through this period and all the way through to the end of the transition period.

Hang tough! Make your plan based upon the core truth you know..... work your plan every day.... one moment... one step at a time... and the measurement of your worth and your progress need only be held in your own eyes. Tomorrow is another day and the fight has and will continue to be bloody! :-)

Apr 14, 2013 - 11:49pm

QUICK TURNAROUND... moar QE please...

As I see it mine production cost for Au is around $1350 and Ag varies but around $22 the spot prices are around production costs and WONT LAST...

Apr 14, 2013 - 11:52pm

Defiant RMB at Odds w/China's Slowing Growth? > Credit Overdose

April 14, 2013, 7:29 p.m. EDT

China’s currency defies downgrade

Commentary: Is credit binge out of control?

By Craig Stephen

HONG KONG (MarketWatch) — Last week, Fitch cut China’s credit rating. A few days later, China pegged the yuan at its highest-ever level against the dollar.

On the face of it this seems odd: A strengthening currency should not accompany a sovereign-credit downgrade. Fitch cited underlying structural weaknesses and worries that companies and local governments had amassed too much debt, as it lowered China’s credit rating from AA- to A+.

ReutersEnlarge Image

But both events look to be part of the same problem. China’s money supply is becoming dangerously extended, all the more so as it is swamped with hot money inflows betting on a stronger yuan.

And this appears to be feeding a new wave of lending, as China’s broad measure of credit more than doubled in March over February.

Arguably what’s pushing the yuan upwards has more to do with the actions of central banks outside China.

In today’s post-financial-crisis era, it is the giant-sized interventions of central banks, from the Federal Reserve to the European Central Bank, which are increasingly driving currency markets.

This time around, the currency waves come from the Bank of Japan. Earlier this month, it ratcheted up its quantitative-easing policy, announcing plans to vastly expand its monetary base.

Japan’s aim is to create inflation at home, but like with the Federal Reserve before it, the worry in Asia is that it will create or reflate asset bubbles abroad.

As the yen USDJPY -0.29% flirts with ¥100 to the dollar, and depreciation expectations become entrenched, the flight of Japanese capital seeking yield and currency strength can be expected to gather pace.

It could also be finding a home in the yuan. Already, it appears, foreign capital is bloating China’s domestic money supply.

In the first quarter, China’s foreign-exchange reserves jumped by $130 billion to $3.44 trillion, suggesting it is once again facing heavy capital inflows.....(cont.)


Silver Alert
Apr 14, 2013 - 11:54pm

Get a load of JPY

Something happened somewhere - it's not just a metals thing at the moment. EUR/USD is taking a plunge and conversely the USDX is doing quite well. But the USD/JPY is also diving so with the dollar up it means the Yen is doing double-extra good.

Texas Sandman
Apr 14, 2013 - 11:55pm
Apr 15, 2013 - 12:01am

China ... etc

With shitty Chinese data a reread of Pettis's latest is worthwhile ... pretty scary https://www.mpettis.com/2013/04/11/the-challenges-for-chinas-new-leadersh...

Zhang Ping, head of the National Development and Reform Commission (NDRC), the top economic planner, said China as a manufacturing powerhouse has a serious overcapacity problem in some sectors.

The industrial sectors suffering most from overcapacity include steel, cement, electrolytic aluminium, plate glass and coal coke sectors, which are operating at 70 to 75 percent of their total capacity. Emerging sectors such as photovoltaic and wind turbine manufacturing have also shown excess capacity, with a 60-percent and 70-percent utilization rate, respectively, Zhang told a press conference held on the sidelines of the annual parliamentary session.

NOTE: Tonight's leg down in PMs preceded the Chinese data by 15 minutes. Since the data we have stabilized but broader markets are lower, but not by enough ... yet. We need the S&P to break lower, then we could see a fast rebound in PMs. Still convinced this is all part of a broader rotation play by DaBoyz before reversal .. out of the broader market into PMs, but they got to finish selling the former and buying the latter first.

Note 2: Since the Chinese data was released, Gold is flat to up a tad, Brent is down $1.60 (down 5% from friday am), Euro down o.30, yen up 0.70.

Mr. Fix
Apr 15, 2013 - 12:01am

You asked a great question at the end,

" Gee, I wonder what the price of gold and silver will be then???"

 I have given up thinking of what the value of my stack is or will be in dollar terms,

 in that sense, I don't believe it will ever come back to being “above water” although in a strict cost averaging, I suppose that I still am.

 My daughter on the other hand, needs a “deep submersible” to find her precious metals.

 This is a prelude to a currency collapse, since the powers that be fully intend to “kill the dollar”.

 I still believe it is going to take the defeat of the Evil Empire to realize the true value of our stack.

 I really hate to say this, because I really love this site, but if you seriously think that we are at a bottom, in dollar terms, I fear there may be more pain headed your way.

 The Evil Empire is backed into a corner that it cannot get out of without massive carnage.

Equities, and treasuries, can not be allowed to fall, and precious metals cannot be allowed to rise.

 This can only be interrupted by one hell of a diversion, one that will make all of this talk irrelevant.

 Yes, “this means war.”

 Coming soon to a neighborhood near you.

Texas Sandman Mr. Fix
Apr 15, 2013 - 12:05am


Well, they'll certainly need lots of silver in a war, now won't they?

And if the currency is destroyed, the value of silver & gold will be infinite, right?

Apr 15, 2013 - 12:09am

I tell u one thing...

....That Sprott cat is one smart dude...

Dyna mo hum
Apr 15, 2013 - 12:15am

Dammit boys what a night

I can't decide if I need to make a pot of coffee or mix myself a drink.

Apr 15, 2013 - 12:17am

Great Advice, Turd

This feels unlike the April smash, but there are two explanations for the price drops: (1) manipulation by the EE, etc., as they shear the specs and the EE transitions to long positions, or (2) disconnect and panic-driven volatility causing turmoil among the elite as the East drains precious metal from the West.

I do not believe this is simple price smashing for sake of fiat currency accumulation. No way. This is beyond a simple irritant requiring minimal attention. This is full-scale panic. At these prices, physical disappears from the West. It is a no-win scenario for the elite, unless they are down to their last move, MOPE, to keep people from withdrawing from fiat and realizing that the whole corrupt fractionalized banking derivative ponzi is a sham. We are there.

I fear the natural response by the elite is initiation of war and the reptilian response by the sheeple of banding together in tribal alliances.

God help us all.

John Galt
Apr 15, 2013 - 12:18am

@ Mr. Fix

I'm inclined to agree that in dollar terms the mission is not just to burn the PMs but to napalm them back to the stone ages.

Loud Noises
Apr 15, 2013 - 12:21am

Critical time

Reposting my thoughts from the previous thread, because TF touched on exactly this.

We are at a critical juncture here. I don't believe in "either/or" scenarios very often because they usually oversimplify and miss the mark. But I believe that we have arrived at the critical juncture where:

Either TF's and many others' call for a final washout, with ensuing short covering, net long flipping, physical overwhelming paper, etc is here and we work our way out of this hole very quickly in a different PM environment...

OR - We PM longs are going to be in the doghouse for a long, LONG time yet.

I must admit, I stacked at 26.90 last week. But now I am too nervous to pull the trigger. This is some scary shit. Even more so than May 2011. I put my money on the time tested support at 26 holding. It didn't, so this is either the final washout or a real bottom falling out. No dilly dallying between.

Mr. Fix
Apr 15, 2013 - 12:28am

John Galt:

 Have I mentioned that your screen name is also my favorite fictional character?

 Don't get me wrong, I love Hank and Dagny too.wink

Bongo Jim
Apr 15, 2013 - 12:31am

PMs are down

But you can buy Ann Barnhardts wooden spoon for 450 FRowNs.

ForWhomTheTollBuilds Bongo Jim
Apr 15, 2013 - 12:34am

Why doesn't she need the

Why doesn't she need the spoon anymore? Did she die or something?

Apr 15, 2013 - 12:35am

Well tomorrow will be fun for another reason

I'm regarded as a complete nutter by the folks I work with, like many of you I assume.

They don't know any specifics, except for the fact that they specifically have no fucking clue what I'm talking about most days. And they're mostly PhD's/MBA's who were hired on the basis that they're "critical thinkers".

Well, tomorrow we're having a team-building day at an indoor paintball place. 

This gonna be fun. In the entire group, there are three who know what an LGS is.

John Galt
Apr 15, 2013 - 12:36am

@ Mr. Fix re: Screen name

It was a no brainier for me to chose this name, because I truly have 'gone Galt'.

Besides that, I'm not as cute as Dagny - so that was never an option.

Apr 15, 2013 - 12:40am

My fault....

I bought 3/4 of an ounce tonight.

Twenty minutes later it went off the high dive.

I'm going to go into the organic fertilizer business.

Everything I touch turns to shit. sad

Apr 15, 2013 - 12:41am


paintball with Phds???!!! woohoooooo!!!!! can see/hear it now....




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