Fri, Apr 19, 2013 - 10:24am

I'm just generally tired, so I'm taking the day off. Here's an "open" thread.

If you haven't seen it yet, below is the CBC documentary, graciously supplied by "forwhomthetollbuilds". Very kind of him to take the time to record and upload. All three parts are below. Part III is the only one of real interest.

Obviously, the producers chose to exclude the information which I was hoping would finally begin to see the light of day. Thus the title of this post. I'll try to pick up my armor and rejoin the fight next week but, for now, I can't help but feel a bit dispirited.

Have a good day and try to remember to play nice, keeping in mind, of course, The Golden Rule.


About the Author

turd [at] tfmetalsreport [dot] com ()


Apr 20, 2013 - 10:10pm


The Canadians stormed Juno, nuff said,

Poor max, the mutual exclusion problem, sorry been there, done that.

Its too bad, or is it, max went to trading school, and learned the ropes, he is locked in. But he is very close, to the goal line, when he addresses the political stalemates, conflictions, and answers the big question why, then he will get it. He is very close, very close indeed. Bitcoin for him, is a way for him to get there, now, ah, the impatience of youth, but without answering the big why, and without putting up with the bug inherent problems. But he's close, oh so so so close.

John Galt
Apr 20, 2013 - 9:49pm
Apr 20, 2013 - 9:28pm

Turd Apologies on Canada's Cowardice

I was wondering why the whatever on the DocZone week report and yes they are cowards, I'm sure it came down to lawyers and week willed producers unwilling to take on JPM , BUT the truth will come out sooner than later


So on behalf of being a Canadian and very disappointed


Apr 20, 2013 - 8:20pm


knows gold, must be a freedom lover.

Apr 20, 2013 - 6:34pm

Not sure about this "CIGA Bo P" prediction

When it has such huge sell-off, it creates technical damage and lots overhead resistance. It's unlikely to have a straight shoot up back to 1600. Even in the 2008 recovery it didn't recover that fast.

Apr 20, 2013 - 6:02pm

Direct from the top

This is freaking precious, an appointment, direct from the top, hear hear!!! Here Here!! There is his Excellency, the almighty. Vice Prez, Admin, just working the administration. The secretary of state, the dark one, with many news reports, probably hitting the hay dreaming of ICBMs, globally, totally. (YIKES, did I say that?) The mayor, leasing ND, acres for free outside of Bismark, or are they, and thanks much. And now, the attorney general, was on a witch hunt, resume proudly boasting, in California stacking claims, believing in Stalin-esque outcomes.

Just keeping tabs. Sincerely Yours and Most Respectfully,

Local Battalion Commander. pro tem, as unappointed with no freakin pay.

It is an honor to be our your obedient servant

Key Economic Events Week of 8/10

8/10 10:00 ET Job openings
8/11 8:30 ET Producer Price Idx
8/12 8:30 ET Consumer Price Idx
8/13 8:30 ET Initial jobless claims
8/13 8:30 ET Import Price Idx
8/14 8:30 ET Retail Sales
8/14 8:30 ET Productivity & Unit Labor Costs
8/14 8:30 ET Cap Ute and Ind Prod
8/14 10:00 ET Business Inventories

Apr 20, 2013 - 8:48am

Despite Excel Error, This Time, It’s Still Not Different

The best-selling book, This Time It’s Different (2010), which warned against a high government debt-to-GDP ratio, relied on an Excel spreadsheet. Problem: one of the cells was wrong. An article exposing this error has gotten a lot of coverage in the media. Liberals have cheered. At last, relief! They can still remain in the stands, cheering for increased government debt. Whether this glitch will undermine the book’s overall thesis is problematic. But it will surely force an updated edition. Liberals, who groused before, will from now on say, “Revisions don’t matter.” The fact that it took three years for someone to spot this error is indicative of the power of the computer to mislead people. Once a computer-generated economic thesis gets picked up by the media, no one checks. Reagan was right: “Trust, but verify.” Three scholars finally checked. The numbers did not add up. Here is the more important problem. There are no fixed cause-and-effect statistical ratios in economic theory. Ludwig von Mises warned about this for his entire career. There are historical relationships. There is no way of knowing if they will hold in the future. They are not economic laws. The problem with a rising government-debt-to-GDP ratio is that government is getting bigger proportionally. Free market economists know that this will ratio eventually reverse. Government expansion in relation to the private sector will undermine productivity, i.e., reduce GDP. As to what statistical ratio will prevail when this happens in any nation, no one knows. Excel will not help us to find out. Glitches happen. Keynesianism is a very big glitch. It has excelled. Garbage in, garbage out. This time, it’s still not different. Non-Austrian economists still cling to their historical relationships, as if these were anything other than historical relationships.

Apr 20, 2013 - 7:42am

Weak hands

Bernanke et al were right and people did panic and sell their gold and silver. And they scooped it up. That is why they did it. They need all the phyzz they can gather to keep COMEX open. Lots of folk on the sidelines who were left behind see the crashdown as a blessing and got onboard the bulltrain. Good for them and they're thanking Bernie baby.

The washout is behind us imho and we're headed back to the 1600's for starters.

If the banks went long during the washout, look out above.

Apr 20, 2013 - 6:24am

Wise words from the wise men


MEP Nigel Farage Friday, April 19, 2013

Rick Rule Saturday, April 20, 2013

Rick Rule: “It’s Wartime Right Now”—So Much Money Can Be Made As A Consequence Of This Market

Speaking toward fund “disintermediation” of mining and natural resource shares, Rick stated that, “What’s happening now…[is] the small hedge funds and mutual funds…are experiencing redemptions. When you are experiencing redemptions as a manager, you don’t sell what you want to sell…you sell anything that has a bid, [as] you have to raise cash to fund your investor redemptions…One of the weaknesses of the mutual fund model in a cyclical industry like precious metals or natural resources, is that although the industry itself requires a contrarian technique, you’re at the mercy of the mob, and you’re at the mercy of the market. We’re seeing this in the capitulation sellingthat we’ve been [watching] this week.”

When asked if we’re finally seeing the spasmodic, event-type selling which marks major, historical bottoms, Rick said, “Yes sir. We’re coming right into it now. We’ve been experiencing it, [and] I expect we’ll continue to experience it for a while. I expect the spasmodic sell-off to give way to the summer doldrums, where the market drifts a little bit lower through the summer, albeit on no volume. Then I expect the market to begin to pick up in September, in a stealth bull market thatnobody notices, where the sellers are simply exhausted, [and where] weak buying volume overcomes weaker selling volume.”

With regard to the absolute desperation being seen by weaker hands in the market, Rick explained that, “The type of speculator who got drawn into the precious metals and natural resource markets in 2009-2010, which were blow-off tops, are of course capitulating now. This is all good by the way…given that I want to own these assets, and given that my assets aren’t for sale at any prices like these, I’d love to see it lower…if you’re trying to increase your assets, you want to buy them on sale.”

According to Rick, this is one of the best markets in twenty-years for a contrarian speculator, with the last great one being, “The 1990 bear market [which] was an obliteration. You’d open up Stockwatch, and every week twenty companies got the dot. They got suspended [from trading] because they didn’t make their filing fees, or they couldn’t pay for their audits. So twenty listings a week went to listings heaven, truly brutal…and it was great because it chopped out all the flotsam and jetsam (junk), and when the market began to recover in 1992-1993—the recovery was absolutely vicious to the upside. You make so much money coming out of these cataclysmic sales, if you are selective and aggressive at market bottoms.”

Sharing a story of astounding wealth creation during that 1990 bear market, Rick concluded by saying, “On the floor of the PDAC in 1990-1991…there were three guys writing checks [I was one of them], and I made so much money as a consequence of that in the next 3-4 years. It was insane…so as you can hear in my voice—it’s wartime [right now].”

>>Interview with Rick Rule (MP3)

Apr 20, 2013 - 6:14am

This is not sustainable :

This is not sustainable-it must crash down, and very soon:

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Key Economic Events Week of 8/10

8/10 10:00 ET Job openings
8/11 8:30 ET Producer Price Idx
8/12 8:30 ET Consumer Price Idx
8/13 8:30 ET Initial jobless claims
8/13 8:30 ET Import Price Idx
8/14 8:30 ET Retail Sales
8/14 8:30 ET Productivity & Unit Labor Costs
8/14 8:30 ET Cap Ute and Ind Prod
8/14 10:00 ET Business Inventories

Key Economic Events Week of 8/3

8/3 9:45 ET Markit Manu PMI July
8/3 10:00 ET ISM Manu PMI July
8/3 10:00 ET Construction Spending
8/4 10:00 ET Factory Orders
8/5 8:15 ET ADP employment July
8/5 9:45 ET Markit Service PMI
8/5 10:00 ET ISM Service PMI
8/6 8:30 ET Initial jobless claims
8/7 8:30 ET BLSBS for July
8/7 10:00 ET Wholesale Inventories

Key Economic Events Week of 7/27

7/27 8:30 ET Durable Goods
7/28 9:00 ET Case-Shiller home prices
7/29 8:30 ET Advance trade in goods
7/29 2:00 ET FOMC Fedlines
7/29 2:30 ET CGP presser
7/30 8:30 ET Q2 GDP first guess
7/31 8:30 ET Personal Income and Spending
7/31 8:30 ET Core inflation
7/31 9:45 ET Chicago PMI

Key Economic Events Week of 7/20

7/21 8:30 ET Chicago Fed
7/21 2:00 ET Senate vote on Judy Shelton
7/22 10:00 ET Existing home sales
7/23 8:30 ET Jobless claims
7/23 10:00 ET Leading Economic Indicators
7/24 9:45 ET Markit flash PMIs for July

Key Economic Events Week of 7/13

7/13 11:30 ET Goon Williams speech
7/13 1:00 ET Goon Kaplan speech
7/14 8:30 ET CPI for June
7/14 2:30 ET Goon Bullard speech
7/15 8:30 ET Empire State and Import Price Idx
7/15 9:15 ET Cap Ute and Ind Prod
7/16 8:30 ET Retail Sales and Philly Fed
7/16 11:00 ET Goon Williams again
7/17 8:30 ET Housing Starts and Permits

Key Economic Events Week of 7/6

7/6 9:45 ET Markit Service PMI
7/6 10:00 ET ISM Service PMI
7/7 10:00 ET Job openings
7/9 8:30 ET Initial jobless claims
7/9 10:00 ET Wholesale inventories
7/10 8:30 ET PPI for June

Key Economic Events Week of 6/29

6/30 9:00 ET Case-Shiller home prices
6/30 9:45 ET Chicago PMI
6/30 10:00 ET Consumer Confidence
6/30 12:30 ET CGP and SSHW to Capitol Hill
7/1 8:15 ET ADP Employment
7/1 9:45 ET Markit Manu PMI
7/1 10:00 ET ISM Manu PMI
7/1 2:00 ET June FOMC minutes
7/2 8:30 ET BLSBS
7/2 10:00 ET Factory Orders

Key Economic Events Week of 6/22

6/22 8:30 ET Chicago Fed
6/22 10:00 ET Existing home sales
6/23 9:45 ET Markit flash PMIs for June
6/23 10:00 ET New home sales
6/25 8:30 ET Q1 GDP final guess
6/25 8:30 ET Durable Goods
6/26 8:30 ET Pers Inc and Spending
6/26 8:30 ET Core inflation

Key Economic Events Week of 6/15

6/16 8:30 ET Retail Sales
6/16 8:30 ET Cap Ute and Ind Prod
6/16 10:00 ET Chief Goon Powell US Senate
6/16 4:00 pm ET Goon Chlamydia speech
6/17 8:30 ET Housing Starts
6/17 12:00 ET Chief Goon Powell US House
6/18 8:30 ET Initial Jobless Claims
6/18 8:30 ET Philly Fed
6/19 8:30 ET Current Account Deficit
6/19 1:00 pm ET CGP and Mester conference

Key Economic Events Week of 6/8

6/9 10:00 ET Job openings
6/9 10:00 ET Wholesale inventories
6/10 8:30 ET CPI for May
6/10 2:00 ET FOMC Fedlines
6/10 2:30 ET CGP presser
6/11 8:30 ET Initial jobless claims
6/11 8:30 ET PPI for May
6/12 8:30 ET Import price index
6/12 10:00 ET Consumer sentiment

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