Not So Happy Tuesday

Tue, Jun 4, 2013 - 1:57pm

Lots going on today and I'm off to a late start so let's dive right in.

First, let's talk about the price action today. After the surprising rally yesterday, I asked you to watch the Asia and London trade for clues to the Comex action today. What did we see? After a flat Asian session, the London Monkeys did their usual thing from about 2:00 am EDT on. The London Monkeys have now acted on 14 of the past 17 days. Check this chart from Ranting Andy:

The result was a giveback of more than half of yesterday's gains.

Why did we see this? Hard to say for sure but, with volume light ahead of the BLSBS later this week, I suspect that a lot of this was some Bullion Bank selling that was aimed at lessening some longs ahead of the CoT survey. No doubt the action since last Tuesday is a continuation of the trend of last week's report. Therefore, the banks tried today to lighten a few of the longs they had built up over the course of the week. This also serves the dual purpose of defending the 20-day MA and restoring some confidence to some of the shaky spec shorts. At any rate...we're down a modest $13 as I type. Let's see what tomorrow brings.

Speaking of the CoT, there has been some excellent analysis written in the past few days so I thought I would highlight some here. Again, the positioning of the Commericals vs The Specs has gotten so extreme that it has reached historic levels. Ultimately, how you interpret this depends upon just whom you think is really in charge. Is it The Specs or do The Cartel Banks lead The Specs by the nose into whichever position they would like? Let's start with longtime CoT-watcher Gene Arensberg:

Next, read this link over at KWN:$1,000_Spike.html. While we might disagree that this chart alone shows that "gold is set for a massive $1000 spike", the interview is helpful and in contains this excellent chart. (Click on it to enlarge.)

Reading that article inspired the Turdite "WildStyleChef" to create the chart below. This shows graphically how Commercial positioning is inversely correlated to price. (Again, click to enlarge.)

OK, moving on. I found this to be interesting. Recall that when the Dutch bullion bank, ABN AMRO, announced their plan to settle in cash a few months back, many of us called it a default. This article published Friday follows along with that theme. I don't know anything about the author but that's OK. He probably doesn't know anything about me, either.

Still lots of talk out there about Fed QE "tapering". Again, I think is all silly and it may be a non-topic as soon as Friday at 8:31 am. Regardless, as mentioned last week, even if The Bernank was to announce some type of "taper", it would likely come from the $40B/month MBS-purchase side of the QE∞ equation. The Fed could still monetize $45B/month in treasuries directly while cutting the Primary Dealer kickback life support handout welfare bullshit MBS purchases to $20B/month. This would still be $65B/month in QE and silence all the hawks. Not saying that it will happen, just saying that even if it did, it's no big deal! $65B/month is still nearly $800B/year in fresh greenback, created from whole cloth for the purpose of sustaining The Great Ponzi. Read more at ZH: And here's how it looks graphically:

Finally, I don't know if you've noticed but lately there sure have been a lot of big mines that have been taken off-line.

So, now, what to make of all this? Well, if you believe that everything is hunky-dory and that there are no supply issues in gold, then this is no big deal. After all, even though The Grasberg mine is the largest in the world, it still only produces about 30 metric tonnes per year or a little over 1% of all global mine production.

If, on the other hand, you think that the Bullion Banks are living hand-to-mouth and frantically trying to keep their Fractional Reserve Bullion Banking system alive, then it is a big deal. A very big deal.

That's a lot of gold...a lot of currently anticipated and expected supply that isn't coming. How much of this production was already sold forward into the market? And if it was already sold forward, what happens when it fails to materialize on schedule? Hmmmm. Could that lead to those contracts being covered? Could it lead to some new long purchasing as a hedge against supply delays, not only from the suppliers but from the end-users, as well? And with the current CoT structure in gold being akin to an overgrown and dried out California ravine just waiting for a spark...

Let's just leave it there for today. I hope that the rest of your Tuesday goes well and I look forward to seeing what tomorrow brings. Again, if I'm right about the cause of today's drop being Cartel CoT-positioning, then we should see a bit of a bounceback on the Globex and overnight.


About the Author

tfmetalsreport [at] gmail [dot] com ()


Jun 5, 2013 - 2:49pm


Good observation, my skin is so thick, that on one can rattle my cage. I tell the boys always, that girls are special, and no fold words around the girls, not even in houses because girls maybe lurking. Perhaps the jidah comedian did not have good fetching up.

Anyone got a paddle handy?

Jun 5, 2013 - 2:45pm


Lets Rock on the back page. Atta-Boy LOL

Gave G Hunter, the out, if one was needed.

Mr Hunter, if you are having trouble with my posts, as to provocative, put in a disclaimer.


Mr Greg Hunter or USAwatchdog disclaims any truth or veracity in any claim made in and of the postings of Mr Reid in connection with Ms Fitts article posted June 6th at USAwatchdog, and respecting Mr Reid’s postings, USAwatchdog merely provides here Mr Reid’s postings for all interested parties to share, all of which have been previously public postings made elsewhere in a public place and space available to any one, and USAwatchdog thus, and hereby, acts in whole, merely as a replay and as a public forum and a public service for Mr Reid, who now and has claimed sole and exclusive criminal and civil liabilities for any alleged libel or slander extending from the posts of Mr Reid in connection with said Fitt Article.

Follow on post, to buck him up.

Derrick Michael Reid says: Your comment is awaiting moderation.

June 5, 2013 at 1:46 pm

Now is the time for all good men to step up and answer the call of duty to defend the nation when the country is threatened, as it is our duty to the country, if not also an honor to do so, and in so doing, all good men should act as best able.


Talk about a mind screw. If he release it for publication, could be shock waves, so get ready to short you know who.

LOL, there goes the D-man.

i'm going to pick a fight
Jun 5, 2013 - 2:44pm


Derrick Michael Reid says: Your comment is awaiting moderation.

June 5, 2013 at 7:45 am

Mr Hunter, and Freedom Lovers Everywhere, check it out, please.

And I hope Mr Hunter, you got a laugh, dedicated to Mr Hunter.

USA Nova Slang
Posted by Derrick Michael Reid on Monday, June 03, 2013 4:23:25 PM
Just in case you aint hip to the lastest slang sweeping the nation, thought a list, to set your mind straight, might be in order. Enjoy

Crimex: The NY Comex exchange

COT: Commitment of Thieves

Banksters: Wall Street ATMs Paying Out Obscene Bonuses

Greedsters: TBTF TBTJ Bullion Banks Flushing Traders, Crimex Rigging Selling Traitors and Undue Influencers

Holy Spinners: US Corrupt Politicians and Farcical Habitual Campaigners

Black Robe Reapers: US Corrupt Judiciary and Plain Language Interpreters

Double Dutch Bus: The Honorable Legal Profession Seeking Currency At All Costs

Sharks: Self Interested Litigators with Clients Seen Coming

Smear Merchants: Main Stream Media Anchors profiting on Libel and Slander

Gaucha Pundits: Communists profiting off Innocence and Harmless Errors

Ponzi Coupons: Irredeemable Federal Reserve Notes

Mouseketeers: US Governments Agencies, Justice, FED Bank, and CFTC

Totalitarians: USSA Government Administration, DNC and RNC

Bullion Riggers: John Pierpont Manipulator and Hideous Sperpentine Bozo Clowns

Puppeteers: Goldman Socks and Tinananmen Squares

Enslavers: IRS, RICO Thugs, Pick Pocketeers, Privacy Spies, Highway Robbers, USSSA, USDA, Poor Entrappers, Circus Masters, and Bread Throwers

Gold Bugs: Freedom Lovers, Turdites, Le Menu Readers, Austrian Economists, Real Money Believers, Plain Language Constitutionalists, Republic Restorers, Libertarians, and Bonnie Blue Flag Waivers

Paper Pushers: Central Bank Currency Printers, Kenynesian Economists and Debtor Prison Wardens

One Percenters: Greedsters and Banksters and Diamond Backed Snakes and She Head Madusas

Ninety Nine Percenters: Tax Mules and State Dependents

Monsters: Freedom Fighters Locked and Loaded with 500 Rounds Each

Pump Machine: How Now Dow Cows, Paper Printers, and Feel Good Be Happy Crowds

Reality Rates: TARP ZIRP QE Kaplops, Negative Bond Fools, Stagnant Joe Six Packs, and Busted Moms and Pops

MOPEd Dopes: USSA Statistics Believers and Foolish Economists

Extremists: Freedom Lovers, Gold Bugs, Freedom Fighters, Plain Language Constitutionalists, Libertarians, and Old Glory Waivers

Gang of Four: WW and the Printers and Thugs, FDR and the Raw Deal, LBJ and the Corrupt Society, and BHO and the Ponzi Scheme

Hue and Cry: Tax and Spend, Take and Give, Inflate and Rob, Incentivize and Control, and Socialize and Corrupt

Slogan: Vote em Out or Take em Out, for a Free Lunch

Frankie Smith – Double Dutch Bus

This post is dedicated to Mr Greg Hunter of USA Watch Dog dot com.

Dyna mo hum
Jun 5, 2013 - 2:41pm

Just for the record

I watched mondayass personally attack Katie Rose for weeks on end. I don't recall Katie ever responding in kind to his attacks which is amazing in itself and that speaks volumes about her. So much for poor taste!

Jun 5, 2013 - 2:26pm


Derrick Michael Reid says: Your comment is awaiting moderation.

June 5, 2013 at 7:55 am

Bill is always great with his take on things. And COT data provides many clues, and am glad that Ferguson and Bill provide us with their take, and that is a great data point to have, a valued input. I have listen to many complain about the naked shorts for many years, and it seems that it wont stop. So, the reset offer all those with bullion in hand to succeed eventually in time. What about poor without bullion getting zero in an economic basket case fall out, or inflation rates on fixed income people, who cant make it, during that greatest transfer of wealth. Is that really a noble thought. Why not take down the evil empire and free all with high economic output and freedom, so everyone wins. I am hoping for a COT flip as the signal that things have changed for destroying the FRN, because it is believed that TPTB use taxes and paper money to control, and maintain a lock on power. So, in my estimation, the FRN is the enemy. I see the JP and others out trying to make a buck, even though if feeds the maintenance of the FRN, so the manipulators, out for a buck, are not the friend of the people. There is a possabily of private hands buying bullion to over run them, but it seems that has played out long enough. And so, trapped are the people in the control of totalitarians, and its getting worst, not better, as more and more laws are constructed, as the IRS and FRN means pervade. It seems as though its an endless struggle, and keeping an eye out on the COT give clues. After so long eye balling, and believe in my heart that a plan has finally been devised to rock the manipulators and shut them down, and let price discovery come back, but feel helpless and impatience. So, that its. As long as the FED can funnel FRN into the manipulators, they can go naked and control. And so the next step is, what if there is no physical, no more to push the price down, they still can control. I was thinking today about how to lock down the manipulator, so they are given no wiggle room in avoiding an injunction, and thought of passing money to 3rd parties, which then come in as supposed clients, and that, I end up where I was years ago, I have to go back to 3 years ago about, proposing the ending of naked shorts in the bullion space, physical or forwards only, because bullion and the FRN are money, but not other commodities. And it seems like creative games can be created, unless they are enjoined, even after they are supposedly over run. I am afraid that first watching the fort, and then the COT, and then demands, that that will not be the end of it, that it could go on as long as they can print, which they can, thinking basically the manipulators have to be shut down, at least in my life time. The coasts, East and West are locked up by money interests, sharks, greedster, and banksters. Only a strike now in a gun toting state offers the people any chance of shutting down these crimes and saving what is left of the country, and that is what is being proposed, but realize it is a novel approach, so stalemate and frustration is what is felt, while a last chance to really do something may be slipping away. They have many looking at COT reports, and that is good information, but I am not so sure that even with supply all gone, that demand prices will be allowed to go up and to have a reset. So, I sit, with an attack plan. I thought it through. Bill and Turd offer valuable insight to COT analysis, and today I questioned myself if another decade of waiting is in the cards for a COT flip, and if it happens, is anything really changed by it, can they maintain price controls. Now many think it will enter a state of absolute totalitarian control, then why bother now with good COT data, if they control all any way? If it will play out in the totalitarian end game, the COT data, while providing a market data point now, dont solve the political questions. So, the end of all this is that COT by bill and turd are value indicators of the state of affairs in term of market action. But if the paper printers can print in perpetuity, and if totalitarianism is the projected outcome, we need to strike, strike now, and strike hard and fast. And we at least have a plan, that no one seems interested in, except one. How is the fort doing, I dont know, but believe its a national secret, but wondering if there any new delevopements on that front. We went through GS lowering position, and JP took over. We went through EU CB selling and then switching to buying, and what, so they reloaded? Now Europe of burning, until starvation takes overs, and the people return to work. When the price got bombed and the mine disaster taking out supply, the COT did not flip, and that was major clue. It did not happen, as it aught to. So, its not COT. Its not the WGA. Its not the supply. Its not the Fort. Its Not the EU burning. Its political, and there are the national RNC and DNC controlling bodies, and its seems that is where the focus should be. And in the USA, there are 3 branches, all three of which are locked up on the coasts, but there is a middle section holding the line, having 1 branch not looking to elections, and in that1 branch in that one area, there maybe an opportunity to strike the Evil Empire. The propose plan can be replicated by anyone, it not really difficult, just novel. But, the consequence of the plan and propose action discredits paper, and the central bank paper pushers start falling, one by one, and hence, the objective is not really the manipulator, per se, but the follow on consequences, and that is FREEDOM from the paper pushers, and that means, FREEDOM from the Evil Empire. The manipulator in the case proposed is simply the weak commercial link, where to strike, to start the dominoes falling one by one.

Jun 5, 2013 - 1:57pm

US Mint - Produce & Ship

*233,378 Ordered Act Now! 1 Last Date of Sale June 6, 2013 5PM EASTERN *Data for cumulative total units ordered is updated daily, Monday through Friday (excluding Federal holidays), at approximately 3 p.m. (ET) and is an approximation of total units ordered from the United States Mint through all of its active sales channels. This data is provided for informational purposes only and should not be construed to represent accepted orders or actual sales figures.

2013 American Eagle West Point Two-Coin Silver Set (S40)
Product will be available for shipping 09/30/2013

Household Order Limit: None ... $139.95 per set
I bought two sets just because it's a limited edition and the chance to order ends tomorrow 6/6/13 but why will they not ship until 9/30/13
Key Economic Events Week of 10/26

10/27 8:30 ET Durable Goods
10/27 10:00 ET Case-Shiller home prices
10/27 10:00 ET Consumer Confidence
10/27 10:00 ET Richmond Fed
10/28 8:30 ET Advance Trade in Goods
10/28 8:30 ET Wholesale Inventories
10/29 8:00 ET ECB monetary policy stmt
10/29 8:30 ET Q3 GDP first guess
10/30 8:30 ET Personal Income and Spending
10/30 8:30 ET Core Inflation
10/30 10:00 ET UMich Consmer Sentiment

Cry Me A River
Jun 5, 2013 - 1:31pm


XTY--My wife and I lost 3 of our four parents recently within a very short time frame. Periodically, I am reminded of empty chairs at out dinner table where they would share and celebrate special occasions here at our home.

We also would visit them. Now their homes are sold, and my mother lives with us. Everything seemed point less for a long time, but I've learned that time doesn't heal.

I've learned to deal with our loss as a kind of "maintenance" where I just let my depressed feelings happen knowing that it's not going away permanently but that it will soon stop at least for a while. The sadness soon fades and I tell myself that I've done a little repair work and I move on.

I can't imagine anyone telling me they wished my parents dead. But I can imagine how you felt when you had to confront your loss because it happens to me often.

I'm very saddened that anyone would attempt to hurt you this way for no reason. Please accept my condolences.

As for this "Monedas" jerk, I responded to him once.

When his reply made no sense, he was placed on immediate ignore. That was months ago.

As for the banning and/or creating threads of banned "prisoners", I'm against it. I don't think an owner of a blog should be wasting his time dealing with idiots.

After reading all of the suggestions on how to deal with idiots and trolls, I'm for eliminating the ability of everyone to view even the title line of an ignored poster if they so choose.

I propose the creation two levels of ignore. Keep the one that's in place now as Level 1. Turd could then create a level 2 ignore that would eliminate the title line/avatar/date/hat tips and all that is associated with that troll/idiot post from appearing.

The "IGNORE USER" button would be replaced with two buttons: "IGNORE USER LEVEL 1" And IGNORE USER LEVEL 2" .

If anyone would like to delete a user from level 2 but keep him on level 1 or restore him to un-ignored status, he could.

Ignore Level 2 would also free up space and reduce the number of pages for that member. This also would not require the owner to creating prisoner threads or to moderate the moron.

Some people would still banter with trolls (to try to make them go away), but members who were using level 2 ignore would not see most of the nonsense. I confess, I've tried, also, to get rid of trolls by engaging them, but have recently been using an effective tool:

This "tool" is The "You're on ignore---You must squeeze all you want to say into the title line, or I will not see it" response. This seems to work and is a derivative of the idea of eliminating the troll from appearing using the proposed level 2 method.

Generally, I'm not bothered by trolls except when they won't go away. A little banter is okay at the expense of the troll, but prolonged exposure is tiresome.

I think this idea would solve most of the "problems" associated with the nuisance created by trolls and idiots.

Jun 5, 2013 - 1:23pm

I miss Puck too

Now there was a gentleman.

Urban Roman
Jun 5, 2013 - 1:16pm

Sometimes I look back, later

Sometimes I look back, later in the day, at one of my posts, and it looks like it came from Gabby of Blazing Saddles.

I do miss Puck, so frequently he would say what I wanted to say, but so clearly and concisely.

And, when do they stop trading at teh NYSE? Is it when they have a 2% drop?

(carry on, Cracker Crockers!)

Jun 5, 2013 - 1:15pm

New Thread

Seems Like Turd wants us to get off the Monedas discussion

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Key Economic Events Week of 10/26

10/27 8:30 ET Durable Goods
10/27 10:00 ET Case-Shiller home prices
10/27 10:00 ET Consumer Confidence
10/27 10:00 ET Richmond Fed
10/28 8:30 ET Advance Trade in Goods
10/28 8:30 ET Wholesale Inventories
10/29 8:00 ET ECB monetary policy stmt
10/29 8:30 ET Q3 GDP first guess
10/30 8:30 ET Personal Income and Spending
10/30 8:30 ET Core Inflation
10/30 10:00 ET UMich Consmer Sentiment

Key Economic Events Week of 10/19

10/19 11:45 ET Goon Chlamydia
10/20 8:30 ET Housing Starts
10/20 1:00 pm ET Goon Evans
10/21 10:00 ET Goon Mester
10/21 2:00 pm ET Fed Beige Book
10/22 8:30 ET Initial Jobless Claims
10/23 9:45 ET Markit Oct flash PMIs

Key Economic Events Week of 10/12

10/13 8:30 ET CPI and Core CPI
10/14 8:30 ET PPI
10/14 9:00 ET Goon Chlamydia
10/15 8:30 ET Philly Fed
10/15 8:30 ET Empire State Idx
10/15 8:30 ET Import Price Idx
10/16 8:30 ET Retail Sales
10/16 9:15 ET Cap Ute & Ind Prod
10/16 10:00 ET Business Inv

Key Economic Events Week of 10/5

10/5 9:45 ET Markit Svc PMI
10/5 10:00 ET ISM Svc PMI
10/5 10:45 ET Goon Evans
10/6 8:30 ET Trade Deficit
10/6 10:00 ET JOLTS job openings
10/6 10:45 ET Chief Goon Powell
10/7 2:00 ET Sept FOMC minutes
10/7 3:00 ET Goon Williams
10/8 8:30 ET Initial jobless claims
10/9 10:00 ET Wholesale Inventories
10/9 12:10 ET Goon Rosengren

Key Economic Events Week of 9/28

9/29 8:30 ET Advance trade in goods
9/29 9:00 ET Case-Shiller home prices
9/29 10:00 ET Consumer Confidence
9/30 8:15 ET ADP employment report
9/30 9:45 ET Chicago PMI
10/1 8:30 ET Personal Income and Spending
10/1 8:30 ET Core Inflation
10/1 9:45 ET Markit Manu PMI
10/1 10:00 ET ISM Manu PMI
10/2 8:30 ET BLSBS
10/2 10:00 ET Factory Orders

Key Economic Events Week of 9/21

9/21 8:00 ET Goon Kaplan
9/21 10:00 ET Goon Evans
9/21 Noon ET Goon Brainard
9/21 6:00 pm ET Goon Williams & Goon Bostic
9/22 10:30 ET Chief Goon Powell on Capitol Hill
9/22 Noon ET Goon Barkin
9/22 3:00 pm ET Goon Bostic again
9/23 9:00 ET Goon Mester
9/23 9:45 ET Markit flash PMIs for September
9/23 10:00 ET Chief Goon Powell on Capitol Hill
9/23 11:00 ET Goon Evans again
9/23 Noon ET Goon Rosengren
9/24 1:00 pm ET Goon Bostic #3
9/24 2:00 pm ET Goon Quarles
9/24 10:00 ET Chief Goon Powell on Capitol Hill
9/24 Noon ET Goon Bullard
9/24 1:00 pm ET Goon Barkin again & Goon Evans #3
9/24 2:00 pm ET Goon Bostic #4
9/25 8:30 ET Durable Goods
9/25 11:00 ET Goon Evans #4
9/25 3:00 pm ET Goon Williams again

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

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