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

tfmetalsreport [at] gmail [dot] com ()


Apr 19, 2013 - 4:37pm

Gold inventory intel

Texas Precious Metals out of stock for most gold products. Talked to owner and he said that this last week has been unbelievable. Interesting to see that if prices continue to be slammed if any metal will be available?

my mothers keeper
Apr 19, 2013 - 4:34pm

my local coin store

i called my local coin store this morning as they had said they were getting ase's today. sure enough, they got a monster box in. i asked what premium they were charging and he said, "we are selling them at $30/each." the curious thing is that they are expecting more ase's in on 3 may and are pre-selling them at $29/each. not sure of the strategy there...

Apr 19, 2013 - 4:32pm


Now I wish I had put more effort into the intro.

I made the videos public now too. Soon, the whole world will be asking, "WhoTF are the Turds?"

Apr 19, 2013 - 4:30pm


Great quote --reminds me.

What did one Craft International guy say to another at Boston:










Apr 19, 2013 - 4:26pm

COTs have become meaningless . . .

The paper charades can continue forever. Physical can only be drained til its all gone. That's really all you need to know, other than the physical seems to be almost gone.

So many still buy into what the dollar price of PMs are--it really does not matter, because that pricing is coming from the old, broken paper paradigm.

We are already in the transition phase. The physical is flowing into Big Money coffers, and they are abandoning the paper markets. They learned from the Cyprus Steal.

With things happening so "fast and furious" lately, I wonder if COMEX silver and gold trading will still exist come Monday. What we are seeing is unsustainable.

Apr 19, 2013 - 4:19pm

Great comments on the COT report Turd.

You have the ability to read into that stuff.. Something has to give soon, and when it does, no one will believe it..

Apr 19, 2013 - 4:15pm

Incredible developments in the CoT


Two main things:

  1. Both the gold and silver LargeSpecs aggressively covered shorts. The gold LargeSpecs added net long 9,500 contracts. Even larger on a % of total OI basis, the silver LargeSpecs added net long 9,700.
  2. But that's not the BIG NEWS. What is truly breathtaking is that the silver commercials who are long...and gross long at a record-breaking 60,000+ contracts...and which suffered incredible losses during the reporting week...and were subjected to Tuesday's margin hike...ACTUALLY ADDED MORE LONGS. THEY WERE NOT DEFEATED OR DISSUADED. THEY ARE STEADFAST.


For the week, the LargeSpecs added 850 longs and covered 8,650 shorts. The SmallSpecs really got burned by the drop and also felt the sting of the margin hikes. They sold 7,150 longs and compounded their future issues by adding 4,250 shorts. Yikes! This allowed the Gold Cartel to not only cover 6,800 shorts, they also added 8,700 longs. (I would imagine that almost all of this Cartel activity took place on Monday.) The updated Cartel net short ratio is a still-bullish 1.98:1.


Just as in gold, the silver Large Specs added 1,200 new longs while covering 8,500 shorts. Their updated net long ratio is 1.8:1. And the silver SmallSpecs were burned just like the gold SmallSpecs. They sold 3,100 longs and added 2,000 new shorts. Double Yikes!

And now check this out. As mentioned above, not only did the everybody-but-JPM crowd NOT sell last week, they actually BOUGHT! They increased their already record breaking gross long position by 581 contracts to 61,641. Incredible mainly because they are subject to the margin hikes, too. Not only did they not bail...they gave JPM the finger and bought more!

This forced JPM and their two pals to issue even more naked paper. For the week, they added 5,155 new shorts, bringing their total back up to 84,139. The new Silver Cartel net short ratio is still extremely bullish at 1.36:1.

Let me state this clearly:










On massive selloffs, whoever is long (be it the specs or some commercials) is supposed to sell. This allows JPM and their friends the ability to cover. This is how it has worked for time immemorial. Period. End of story. NOT THIS TIME! Silver fell over $4 (15+%) in two days and yet JPM had to ADD SHORTS?!?! Are you kidding me???

Fully consider this:

  • Think about all of the physical demand, the anecdotal supply shortage info, the pace of ASE sales and the wholesale disruptions after Monday's decline.
  • Think about the Pascua Luma and Kennecott mine "issues".
  • Will either of these "situations" be exacerbated or enhanced by another steep drop in price?
  • But yet, what must JPM now consider? They only have two choices and both of them are BAD.
  1. Raid price again in the hopes that you can force the "other commercials" and specs to finally give up and sell. Into this selling you can finally cover your naked position. However, it would appear at the surface that an even-deeper discount will only worsen the already-tenuous physical supply situation.
  2. Start covering your shorts, even if its at a loss. Hope that the other commercials sell into your buying (covering) so that price doesn't go screaming higher, out of control to the upside.

Look, I clearly need to spend some more thinking about this over the weekend. I look forward to reading what Uncle Ted has to say tomorrow. And I'll need to read Andy's Sunday Commentary for Army members. But, at first glance, this might be an historic CoT report in terms of its implications.

More later.

Apr 19, 2013 - 4:13pm

This was All Predicted Mid-week: Found Gun Stash

Someone wrote an email, on Wednesday, I believe and I posted it here at TFMR then. The "authorities" would find and identify the perps by Friday and he/they would be gun nuts. It was already pre-arranged. Much like this. Now we know how that great chief, Red Cloud felt.

"They made us many promises, more than I can remember, but they never kept but one; they promised to take our land, and they took it."

Red Cloud

Apr 19, 2013 - 4:12pm

Turd... any update on "dan" would be appreciated!

I'm sure I'm not alone in hoping that more of this missing "Dan in China" information comes out soon on the alternative media. Are you and Andy cooking something up to relieve our suspense?

Apr 19, 2013 - 4:08pm

COT Report

I thought that the COT report might be useful, but after the last 2 weeks, I have come to agree with Santa that they are fabricated and meaningless. Volume last Friday and this Monday and Tuesday were records and yet you have the large specs covering and the cartel adding shorts???

Subscribe or login to read all comments.


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 9/14

9/15 8:30 ET Empire State and Import Price Idx
9/15 9:15 ET Cap Ute and Ind Prod
9/16 8:30 ET Retail Sales
9/16 10:00 ET Business Inventories
9/16 2:00 ET FOMC Fedlines
9/16 2:30 ET Powell Presser
9/17 8:30 ET Philly Fed
9/18 8:30 ET Current Acct Deficit

Key Economic Events Week of 9/7

9/9 10:00 ET JOLTS job openings
9/10 8:30 ET Initial jobless claims
9/10 8:30 ET PPI
9/10 10:00 ET Wholesale Inventories
9/11 8:30 ET CPI
9/11 9:45 ET Core CPI

Key Economic Events Week of 8/31

9/1 9:45 ET Markit Manu Index
9/1 10:00 ET ISM Manu Index
9/1 10:00 ET Construction Spending
9/2 8:15 ET ADP employment
9/2 10:00 ET Goon Williams
9/2 10:00 ET Factory Orders
9/3 8:30 ET Initial jobless claims
9/3 8:30 ET Trade Deficit
9/3 12:30 ET Goon Evans
9/4 8:30 ET BLSBS

Key Economic Events Week of 8/24

8/24 8:30 ET Chicago Fed Idx
8/25 10:00 ET Consumer Confidence
8/26 8:30 ET Durable Goods
8/27 8:30 ET Q2 GDP 2nd guess
8/27 9:10 ET Chief Goon Powell Jackson Hole
8/28 8:30 ET Pers Inc and Consumer Spend
8/28 8:30 ET Core Inflation
8/28 9:45 ET Chicago PMI

Key Economic Events Week of 8/17

8/17 8:30 ET Empire State Manu Idx
8/17 Noon ET Goon Bostic
8/18 8:30 ET Housing Starts
8/19 2:00 pm ET July FOMC minutes
8/20 8:30 ET Jobless claims
8/20 8:30 ET Philly Fed
8/20 10:00 ET LEIII
8/21 9:45 ET Markit flash PMIs July

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

Recent Comments

by Blackwatersailor, 20 min 52 sec ago
by Winder, 23 min 13 sec ago
by murphy, 31 min 53 sec ago
by Texas Sandman, 1 hour 32 min ago

Forum Discussion