WOPR in Charge

Fri, Jun 7, 2013 - 10:40am

It's the one, overriding thought I've had since having to endure 30 minutes of CNBS this morning.

First, let's recap. I've been predicting for over a week that today's NFP-BLSBS would be "disappointing". By late yesterday, so many folks had jumped on that bandwagon that, in hindsight, the PMs were set for an opposite reaction. And that's exactly what we've gotten.

Think about it...A little less than 24 hors ago, The POSX was down OVER A FULL POINT. In currency terms, this was a monumental, if not historic, move. Currencies aren't supposed to move that much in a single day. It used to be a big day was 10 or 20 basis points. Now, The Pig can fall over 100 basis points and it's just another day in the market. This is all about WOPRs, too, but more on that in a minute.

Back to The POSX. After today's paltry 175,000 payroll number and UPTICK in the unemployment rate, the POSX is rallying. How much? Is it back UP 100 bps? No. It has barely retraced half of the elevator shaft it fell down yesterday. But that hardly matters. Though the POSX is still 50 bps LOWER than yesterday at this time, gold is $15 lower and silver is 50¢ lower. In our human world, this seems illogical but in the WOPR world, all is well.

And you see this on CNBS, too, if you look closely. Back in the day...actually WAY back in the day...I had the privilege of visiting the floor of the NYSE on two occasions. It was a crazy, bustling place. There were specialists manning their posts like watchmen and traders maniacally criss-crossing the floor with orders. It was a human process. By no means perfect but at least it had some semblance of reality, a connection to fundamentals and actual intelligence.

Today, the floor of the NYSE is a veritable ghost town. A majority of the trading action now takes place on computers based in places as close as Hoboken and as far away as Kansas City. Gone are the days of actual liquidity provided by real human beings with rational intentions, replaced by computers trading for pennies in a rapid fire shell game that would make even the most accomplished 3-card Monte dealer wince.

The same is true for the metals trade. Physical fundamentals are completely trumped by the contract-flipping computers. Oh sure, from a distance, there appears to be a functioning "market", replete with liquidity, but it's all a ruse. Total open interest in gold is now at a multi-year low of 375,000. For perspective, this is down over 40% from a peak above 600,000 back in 2010. Sure, the CME can print daily volume of 150,000 or 180,000 contracts but don't confuse that with liquidity. Most of this volume is simply WOPRs swapping the same contracts back and forth for dimes at a time.

The result is a gold (and silver) market that is completely divorced from fundamentals. Consider just this example: Back in December of last year, when he confirmed QE∞, The Bernank gave two conditions for slowing or ending the $85B/month money-printing plan.

  1. Inflation, as measured by the CPI, would have to exceed 2.5%.
  2. The unemployment rate would have to fall below 6.5%.

The Bernank clearly stated that he did not see either of these events occurring before mid-2015.

And what did we see today? Because of a seasonal adjustment of "people entering the workforce", the participation rate ticked up and the stated unemployment rate actually ROSE from 7.5% to 7.6%. This means that, if you simply go by The Bernank's own words, we are now even farther away from a "taper" of QE than we were yesterday. Try telling that to the WOPRs, though. They create their own momentum and have smashed price by $25 as I type. It's silly. It's nonsense. It has no basis in reality. And it has zero connection to the actual supply/demand fundamentals.

For now, however, paper price as set by The Comex still rules the day. But prices cannot remain permanently disconnected from reality any more than water can run up hill. Eventually, certain laws of nature (and economics) take over and a natural equilibrium is reestablished. This day is coming.

Anecdotal signs of this event are everywhere. Here are just a few:

In the end, the WOPRs trade amongst themselves and the Bullion Banks quietly position themselves against them. Last week's CoT report showed a record low level of Cartel net shorts. Given that today's report will be based upon another 38,000 contract drop in open interest, the level of Cartel shorts will likely fall even more, ensuring not just a turnaround in price but a significant trend change in the weeks ahead.

So, hang in there and understand today's price action for what it is...a simple, computer-algorithm based game of tic-tac-toe. And please, PLEASE, do not try to play along unless you are doing so under the professional guidance of our pal, Andrew. The WOPR itself gave you the only advice you really need:

"A strange game. The only winning move is NOT to play".

Buy the dip and take delivery.


About the Author

turd [at] tfmetalsreport [dot] com ()


Jun 7, 2013 - 3:39pm

Week In Review: Silver Falls To Lowest Since 2010, Gold Safe Fo

Week In Review: Silver Falls To Lowest Since 2010, Gold Safe For Now


Have a great weekend all!

Jun 7, 2013 - 3:41pm

The bankers, pols and elites who run the M-I complex . . .

are not only in jeopardy of losing their wealth and power if the petro-dollar system collapses. When all the BS they've pulled over the years and decades is laid bare, they will fear for their very lives. They will do whatever is necessary. War is not a deterrent, but a needed, desired gambit. They are continually backed tighter and tighter into the corner they created. This makes them very dangerous.

Jun 7, 2013 - 3:41pm

The CoT is so ridiculous

There is no sense in even discussing it.

Perhaps one of the experts can unearth a hidden gem in the disaggregated report.

I'm taking the rest of the week off.

Jun 7, 2013 - 3:42pm

Silver going up, up, up!

rocoach just asked"At what point do we accept that the bull market in PMs is over for the foreseeable future?"

I don't think we can say PMs are in a market. Bull or Bear implies that there is a market and it works. What we have here is is twofold: 1) A COMEX/GLOBEX manipulation scheme that never intended to deliver much metal and are being taken to the woodshed by the BRICS and 2) a manipulated price that is going down--perhaps much lower-- with silver & gold dealers who have not figured out yet that there will be little to no stock to sell at some point. When those dealers realize that they can get no metal, the sham of a market is over.

I talked to a buyer at Silvertowne some months ago and she had never heard of COMEX! They will be out of business one day when all grandma's silver has been sold off by her broke, unemployed decendants and Silvertowne can get none from any other source to cast into their sweet little bars.

Keep stacking.

Jun 7, 2013 - 3:47pm

Bart Chilton...

...might as well take the rest of his life off

H8Fiat Dyna mo hum
Jun 7, 2013 - 3:48pm


Being a dumbass, I have a bunch in my IRA, yea I know. I'm very disappointed in it's performance and tracking to paper silver. At one point it was running almost +20% to NAV, now negative or even at best. Wish I would have cashed out the paper and just bought physical. I do believe in Sprott and prefer it to other vehicles being a closed in fund. I just don't have the balls to sell such an underwater position, and I have a bunch of them and pay the tax hit on top of the loss. Let it ride.

Good luck

Jun 7, 2013 - 3:56pm

The trend is your friend.

The trend is your friend.

For those who only trade stocks: DUST up 161% year to date. It's not a bad idea to hedge with something.

Will we get a bounce on Monday? I don't know. All I know is that we are still in a downtrend and until that changes I am not going long, unless it is intra-day for a quick scalp.

Jun 7, 2013 - 3:57pm

Got a lot of PSLV, PHYS and CEF...

Got a lot of PSLV, PHYS and CEF...

Jun 7, 2013 - 3:59pm

Who would be buying silver

over the next few days/weeks in enough quantities to make it rise? Not many would. That would be crazy.

Now, who over the next few days/weeks would be selling, selling short or not buying? Virtually everyone on the planet. Let's face it, the short trade has been the right trade for many, many months in silver. With this action, regardless of who or why, I see no bottom in sight. The USDX doesn't matter, nor does the COT, nor anything else.

4% daily losses could be the norm now. I can remember not long ago when $.20 move in silver was big. Not looking forward to Sunday night at all.

Mr. Fix
Jun 7, 2013 - 4:00pm

It's been a long day, and I concede.

This morning when I awoke, I had the hat contest on my mind, and thought that I had just enough pessimism to determine a lowball price of $1399. 99 for gold, and $21.99 for silver, would be so lowball as to be unbelievable, and an outside chance at best.

What's been happening all day long, is something that I did not expect, even my most pessimistic assertions have now been put in the optimistic category, as these metals would now need a major rebound before 5:15 to keep me in the running.

Everyone here knows I am quite pessimistic when it comes to the paper spot price, but I have been outdone.

As today comes to a close, it appears that I was in fact being overly optimistic. (I AM NEVER OPTIMISTIC!)

That never happens, there must be some manipulation going on here!

Where is the rebound that we're supposed to be getting? WHERE IS MY DEAD CAT BOUNCE?!

/sarc off.

Cry Me A River
Jun 7, 2013 - 4:02pm

SILVER COT 6-7-2013

Another week has come and gone but the commercials have done something that's a little more than nothing. They've posted a FLAT REPORT for the second time in about 12 weeks. Although this is encouraging in that they have slowed their relentless operation of covering more shorts into the down trend of falling silver prices, I BELIEVE LOWER PRICES ARE STILL AHEAD FOR SILVER.

For at least 12 weeks, they have not signaled, and again this week, they have not signaled anything that makes me believe they've finished. Thus, they are probably still not ready to give up short-covering into lower silver prices.

This week, their net shorts as measured in oz. of silver have shown an INCREASE IN NET SHORTS AS A PERCENTAGE OF COMEX INVENTORIES where they have now come off of the all-time low of 24.99% set last week, but the difference is so small, it's almost not worth reporting. The new percentage reading is 25.69%. This is a 0.7% rise from 24.99%, last week, of the total comex silver inventory.

Since the rise is so slight, I think the banksters are also still on track for a weekly COT REPORT that might indicate a 1:1 ratio of shorts to longs. We also broke into new territory of ever-lower prices that sent the price below that $22 level.

Here's the current chart on the Commercial Short/Long Ratio. It's now down to 1.13. This is exactly the same as last week.

Commercial Shorts Are Now At 75256 Contracts, Longs 66857 Contracts.

The COT Chart Also Shows A New Low Level Of Net Shorts As A Percentage Of Total Inventory

The above chart continues to confirm that its still in a down trend signaling lower silver prices ahead; and ,of course, we will still need to see the commercials SIGNIFICANTLY ADD shorts for two weeks in a row before I can conclude a bottom might be in.

Also, I believe the COT bottoming pattern will resolve itself with some kind of higher low where there are days to weeks in between the first lowest low and the subsequent higher low. For an explanation of what I mean, please review this post: https://www.tfmetalsreport.com/comment/366124#comment-366124

I also think it's possible that the banksters could let the price rise for a week before signaling what I call, a positive COT where they would increase net shorts as a percentage of comex inventory. In this case, the first bottom could materialize a few days before the first positive COT report. We shall see.

The Registered Category Has Now Come Off Of The New All Time Low Set Last Week At 95.32% It's Now At 99.9%.

COT DATA From: https://www.cftc.gov/dea/futures/deacmxsf.htm

Galearis Galearis
Jun 7, 2013 - 4:05pm

Follow up to @Just a Regular Guy: all

I've been getting whiffs of what is coming and here is another. And FYI I suspect Canada is no safe haven for gold and silver bullion storage...Our government is neo-conservative (one stage removed from embracing fascism) with a history of telling Canadians that "Americans are our friends"...And also a history of harmonizing to the greater extent key policies in a number of areas with the USA.

I do not believe most pundits have really speculated fully on what a mutual Western bail-in policy means to each nation...It means that your government is not your government at all anymore...There has been a coup d'etat and those governments are going to allow the banks to foreclose on us all...Foreclose is an euphemism for "loot".

And to continue with an earlier theme,...

FYI: https://www.stevequayle.com/index.php?s=33&d=406


Hello Steve,

Please share this with your fans.

I have been a broker for 20 years. Recently the major broker dealer I work
for asked me and my clients to leave due to too high of a concentration in
physical metals. After 4 months of trying to find a new home for my
business, and being denied by every major broker dealer in the US, I had
not choice but to become and RIA.

After three months of complete BS getting my RIA approved I am now in the
process of moving my clients and metals to the new custodian. Here is
where things get interesting. Every transfer is being rejected multiple
times for the any reason the old major broker dealer can come up with.

More interesting is all of the metals which have variable weights like
1,000 Silver, 100 oz gold and 50oz platinum, when the old broker dealer
finally does transfer the metals to the new custodian, NONE of the bars are
the same in weight or serial number as my clients statements. The old
broker dealer is having to come to me and my clients with bars of different
serial numbers and weight than the one listed on the statements or from
old trade confirms.

This mis-match on transfers proves to me that the old broker deal NEVER had
the metals and are now having to go acquire them to make good on client
transfers. Coincidentally, I was also a broker at Morgan Stanley in 2006
when MS got busted for excessive storage fees and it turned out MS never
owned the metals that were printed on client statements either.

Moral to the story, if you own metals at a major broker dealer, just
because they are printed on your statement, does not mean they exist. I
highly recommend shipping them home, even if they are in a qualified
account. If there too much to take out of a qualified account, transfer
them to a new custodian, for the new custodian will not accept the transfer
without video taping and verifying the move of metals from the storage
depository to the new storage depository.

Last thing, I am 100% for sure that the most of the metals have been
removed from the United States, and when the stock market and bond market
crashes this fall, all metals in private accounts will either not be there,
or confiscated.

Heed this warning people, then end is HERE.

God Bless Steve... Keep Telling The Truth... We Are Making A Difference

Stephen (20 year financial advisor from four of the largest broker dealers)

Jun 7, 2013 - 4:06pm

hedge with gll and zsl

and that way you keep your long positions for cap gains assuming that does happen.

The problem with zsl and gll--is if/when metals really turn up--you have to get out of gll and zsl fast-

as a result I have been trading in and out of them recently-a tad hefty on trading costs even with discount broker--and have written call son gll and zsl

as soon as this mess is over I add ugl and agq

why? look at chart of agq from summer 2010 to may 2011-was in 50's summer 2010--touched around 360 before the bin laden massacre. When it got up there I was writing calls for darn near close to my buying price. Softened the blow but I stuck with it too long-in and out yada yada.

Jun 7, 2013 - 4:12pm

@silverwood: No-one knows


No-one knows where the price will go exactly, and if they do, they certainly don't know where you will be able to get silver at those prices.

So just price average. Once a month has been good to me in the past, but things seem to be coming to a head, so perhaps once every week or two might be better.

I remain of the opinion that paper is going to go arbitrarily low (ie to zero). @Jake, I don't think they will signal, because this is the endgame. It will be every man for himself. The pilers on are no longer needed, so they need no longer be compensated.

Jun 7, 2013 - 4:12pm


Being a silver bull and a compulsive stacker i have to admit that my wife is starting to look more attractive since she started snorting Colloidal Silver.Win Win.

Jun 7, 2013 - 4:12pm

hat eating

so turd .... since we're sub 22 again in ag anymore hats for dinner?

Jun 7, 2013 - 4:15pm

this wasn't just my shorting

this wasn't just my shorting causing this;) i saw it coming, and couldn't let an opportunity pass.

if my memory serves me correctly there were gaps the last time it blew $22 - even people that don't buy tech analysis (hi!) knew we were going to revisit those areas.

headed out for an early weekend, you all be safe!

Galearis Doctor J
Jun 7, 2013 - 4:15pm

@ Jerome re Silvertown

Bought a bunch of their 10 ozers about ten or so years ago...999 stamped but they tested out for copper...Probably sterling grade. And yes, they may have cleaned up their act since,....

But this is why we have LBMA "good delivery bar lists".

It is important for readers to know that there are substandard bars out there and always have been...All generic silver bars and rounds are potentially impure. I do note that "International" product always tested out fine...Also the weights of generic bars can vary by 1 or 2 tenths of a gram but the good delivery bar products are always right on a troy ounce...



Prize Fighter
Jun 7, 2013 - 4:19pm

Green Lantern and all...thank

Green Lantern and all...thank you very much for your wise words. Much of what you say is true and duly noted. If I may say just a few more words...

My frustration is not a lack of personal acknowledgement, it is the opposite. Simply put, I want to see gap warnings without me involved. Hat tips are easy and have always been readily available to anyone here who posts well reasoned comments, goofy pictures or in my case, gap calls. Many times I wish the hat tips didn't exist because I would rather have a conversation about it than a passive acknowledgement.

We know and recognize fundamentals are disconnected from price. This has nothing to do with fundamentals. This is about price and its manipulated paper mechanism we all use. There is a tell in that mechanism and I'd like to see it called out and made a laughing stock due to its predictability. Turd says he can predict price BECAUSE it is manipulated. I agree and gapping the charts is one way they do it. It is a signal. It does me little good to sit on it and I feel we do ourselves a disservice by ignoring it.

Following gaps for well over two years now has taken a lot of drama out of my life. It's also taken a lot of my need to converse about price. Honestly, I ignore all other charts and methods with respect to price if a gap exists. What's the point if they all get blown out time and again only to retreat back to the gap?

I guess I'm hoping for others to monitor and watch for this and give fair warnings otherwise I feel it is incumbent upon me to mention them. I don't want credit, I want to be released from the responsibility. Do I give it or myself too much credence? If it had failed, even once, I wouldn't mention it. I made mention of that possibility when I felt a gap may not fill but it proved even my hopes wrong. It's not proprietary or even that insightful. I just simple noticed them and how they fill, whether it's 4 minutes or 4 months later. Others like Kcap have confirmed them on their own which is great. But after I've charted and verified it here many times I was hoping it might take life of its own. Perhaps it's just too simple for it to be given weighty consideration. But it's price RISK we need as we have enough price reward to consider.

When I come here and see all kinds of guessing between a gap call and surprise fill, I get frustrated and wonder if everyone forgot. Why must I be the one to remind of it? We've had a few short discussions but they die on the vine never to be mentioned again unless I post another gap or fill. I mention it again and new posters IM me wondering what all this gap talk is about. I don't expect them to see my infrequent posts but I do hope those who recognize them would pick up the torch so to speak. I can't go thru my primer every time.

I start writing sometimes and feel dumber for having written it. Now I've only gone and drug myself into where i don't want to be again. I just want the best for us and I feel we are ignoring an important thing. Granted, the silent majority probably does take note but again, I don't want direct acknowledgement and yet that seems to be the only way for this point or warning to be made. Maybe I only needed to ask.

So I am asking...if you see a gap on the 5-minute silver chart, usually a small .004, please call it out and make noise. My wish is that you never have to hear of a gap from me again. I want it to become a part of everyone's toolbox and think it has earned it's place.

ballyale Mr. Fix
Jun 7, 2013 - 4:21pm

Reply to me Mr. Fix.

You're absolutely right. I should have said that they are deliberately blind to it.

What price point will it take for JP Morgan to get its silver shorts back to even?

A 4% paper cut on what? Nothing. That's what.

Every Silver producer is going to have to tear up whatever contract they have with their smelters based upon a fraudulent spot market price or go out of business.

If the spot market is based upon a 1 to 100 naked short position, then the spot price is a fraud and all contracts based upon that fraud should be declared null and void.

How many hundreds of tons of non existent silver were dumped on the market today again? Same with gold?

Naked shorting is illegal. A very simple inquiry would be for JP Morgan to divulge just how much silver or gold they have to back their shorts!! If they don't have that amount, then they are naked shorting the market. The same goes with any hedge funds. They aren't borrowing silver from someone else, they are selling non existent silver and gold. That, my friends is illegal and it is high time the SEC and CFTC does something about it. It's got to the point of the absurd and investigations into these two non regulatory agencies. They have simply become corrupt and should be shut down and reformed with law abiding people.


Mr. Fix
Jun 7, 2013 - 4:23pm

It's one of those days, where everything is up but us.

Second Best Day For Stocks Leaves Bonds And Bullion Bruised And Battered

Submitted by Tyler Durden on 06/07/2013 - 16:14

Volatility is back - though the averge joe-sixpack would hardly know it as stocks see their second best day of the year. The Dow Jones Industrial Average saw itswidest weekly range in 2013 - 460 points low-to-high; even as it closes green. The Nikkei the same (with another ugly week). The USD saw its worst week in 19 months (as JPY carry unwinds hit) but the commodity complex was very dispersed. Oil prices surged 4.6% on the week (so no tax cut there then!) while Silver prices plunged 3%. US Treasury prices close down for the sixth week in a row (for the first time since May 2009). The ramp in the late day today - which held us nicely green on the week in stocks - was absolutely ignored by credit markets which ended the week notably wider.

Jun 7, 2013 - 4:23pm

@prizefighter - gaps

I just posted about gaps right before you did - I saw them when we hit sub 22 the last time - several of them. I called them out here on main street shortly after I saw them. That is why I knew to short the hell out of silver! My warning went unheeded though... Instead the topic was religion, a summer rally, a raffle, and ad naseum CoT interpretations.. All you can do is point it out - you can't force people to see it. ;)

Mr. Fix
Jun 7, 2013 - 4:30pm

@ ballyale:

There will be no “good guys” coming to the rescue. The lawlessness will just continue to become more outrageous.

Writing to a congress critter, or pointing out the lawlessness and screaming it from the mountain tops will be of no avail, the bad guys are firmly in charge, and are running the entire show now. We all know that these markets will implode, but it is the reaction of the powers that be that has me concerned, I see no way they are going to permit precious metals to remain legal.

On a brighter note, Eastern countries see what's coming, and are loading up.

At least it will be worth something somewhere.

Jun 7, 2013 - 4:31pm

Hey fix,

If we were on The Price is Right, the buzzer would have gone after all our bids.

$1.00 Bob! $1.oo!

ballyale Prize Fighter
Jun 7, 2013 - 4:33pm

Well Good by Silver for Solar and Medical and technical uses.

Silver producers all over the world are about to go BK . Nice going guys. You got out of you shorts at even or even at a profit.

You just wrecked important medical research for silver. You just wrecked silver needed for solar panels. You just wrecked silver for technology purposes.

You fucking sociopathic criminals are destroying the world.


Mr. Fix
Jun 7, 2013 - 4:41pm

@ ag4me

As I read it Mr. Morden guessed $ 21.87


Chi town dead head has $ 21.49

could go either way.

Current spot is $ 21.64.

Jun 7, 2013 - 4:44pm



It seems that they wanted a non-active week reflected which makes some sense. This stalls the "theory" crowds into paralysis until they get moving again in another direction.

Does anyone know if a flat CoT week preceded the April 12-15 beatdown?

I think that given todays action and what it infers for Sunday night/Monday, we will see something big again (down) and then a reversal of sorts....probably not what we would all hope for but I guess it depends on how ready they are to let her rip.

Yeah, it sucks. Yes, its getting old. Yes, there isn't much left to say. I can imagine what it must have been like to be in Nazi Germany and watch humanitarian atrocities happen right before your eyes...and the only people who you could turn to to report them are the ones committing the crimes.

What a sick slice of the world we are living in.


Jun 7, 2013 - 4:44pm

Jesse's Comment on today's action

'When the Music Stops'

07 June 2013

The metals were hit with a fairly determined bear raid today for two reasons:

a) it was a Non-Farm Payrolls day with a weak number (as I suggested last night)
b) it was a Friday.

In the late stages of a system in decay, there is a great deal of formula and ritualization in what were once considered meaningful actions.

That is it. Nothing more, nothing less. It was as expected. Nothing has changed.

People underestimate the depths of greed and uncaring selfishness that predominate in the cultures on Wall Street and, unfortunately, in the government and even universities. And the love of many will grow cold...

They know what they are doing. They do not care.

Have a pleasant weekend.


Katie Rose
Jun 7, 2013 - 4:48pm

My sister sent out an e-mail to her list

stating that by a certain date she would not be sending any e-mails to folks who have addresses from the list of companies who are allowing Gov. access to their e-mail accounts.

Someone wrote her back explaining that the smaller carriers use the larger spied on carriers for hosting, as it reduces their costs and makes them competitive.

This statement followed:

The other option is to only use email to talk about completely innocuous subjects, like goats.

I come here and talk about goats for one reason only -- I truly believe there is coming a time when the dollar will have crashed/declined/become worthless, gasoline will be prohibitively expensive, farmers will be unable to farm due to high diesel prices, and truckers will be unable to bring goods to our local stores. I see a terrible breakdown in the transportation and delivery systems in this country. When that occurs, we shall most likely see Martial Law.

It is then that having a garden, greenhouses, goats, chickens, and other livestock will be anything but innocuous. It may make the difference between having hungry children and content children.

The times were are living in are unprecedented in human history.

I value all of your input, because I simply do not have a crystal ball into the future. I donot have any idea as to the dates of the collapse. But I am certain that those not taking future food shortages seriously are in for a world of hurt....

Jun 7, 2013 - 4:48pm


I can understand you waiting. I, on the other hand, started buying silver when it was seventeen. I bought it all the way up, I've bought it all the way down, and I bought it today. I am just smart enough to know that I am nowhere near smart enough to know where, when, or how this thing is going down, or when it will be completed. I am bewildered by how much I know that I don't know. Three years ago I thought I was wicked smart and was totally wrong. I have learned a bunch from people whom I have a tremendous respect for here at TF, as well as a multitude of other places. But, the more I know, the more I know I don't know. What I do know is it is coming down, I think sooner rather than later, but I don't know. Basic math had it going down years ago. Because of my aforementioned bewilderment, the only thing that makes sense to me in a nonsensical world, is to trade fake money for real money early and often, because it is a gift that we are all still able to do that. I believe the price of paper silver will certainly approach zero. But I don't think you will be able to buy it. Would you rather have a tube that you paid 21 for, or nothing to buy at the true bottom? I think you are probably smart to have waited, and I commend your patience because I know how you love to pull the trigger on the phyzz! But what if it all goes down tomorrow? To me, tomorrow is just as likely as two years from now, so ag1969 is stickin with the gameplan, early and often. Real money or fake money, what's in your wallet?


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4/16 9:15 ET Cap Util and Ind Prod
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