Pre Fedlines Open Thread

Wed, Sep 18, 2013 - 10:24am

Only about 3.5 hours to go before all the fun starts. Here's a thread to get you ready.

Just two charts so that we're all on the same page. Again, once we broke down last week and then closed below $1320, it became clear that a minimum downside was somewhere near $1270. Might we see that later today? I hope not but it's certainly NOT out of the question.

The main item of interest, though, is the obvious attempt to hammer price last evening. When this type of move is employed by The Forces of Darkness ahead of the news event, it's almost always a fakeout. Why? Because the bullion banks, as agents of the central banks, likely already know the outcome. By crashing price, they are attempting to draw in as many fresh Spec shorts as possible, into which they cover and BUY. We saw this identical pattern back on 9/5, the day before the latest BLSBS release. We'll see how it turns out this time but, I must tell you, last night's action makes me quite optimistic about the ultimate outcome of today's craziness.

One more thing...For subscribers, this weeks Access2Access event has been scheduled. It will be a webinar with Andy Hoffman of Miles Franklin. Just like last week, participants will be able to submit the questions and Andy will answer them live during the presentation. If you want to be a part of it, you can register by clicking here:

Have a fun day!


About the Author

turd [at] tfmetalsreport [dot] com ()


Mr. Fix
Sep 18, 2013 - 6:37pm

This time I agree with Motley Fool.

That entire gold mine looks like a psi ops operation to me, the numbers are too big.

It's been often speculated China was doing everything it could to keep the price of gold down while they continue to loot rest of the world of theirs.

Why not announce that they found the biggest gold mine in history?

Just the fact that China doesn't actually sell any gold, they may be using this as a prerequisite to backing their own currency with gold, and then start playing the same games the US government does, by reporting that they have far more gold than they actually hold, therefore creating the illusion of mass of wealth.

Our government won't even allow an honest audit of above ground bars in vaults,

what you think are the odds of anyone ever doing an accurate audit of Chinese dirt in the ground?

Unfortunately Motley Fool, the whole free gold hypothesis of $55,000 an ounce is probably not going to happen if China can simply claim they just found 250,000 tons.

My stack of silver is starting to look better by the minute! Ha, ha, ha, he, he, he!

Sep 18, 2013 - 6:36pm

If you really think about it....

... this has all just become a big joke. Even the awake are conditioned to accept these ginormous waterfalls in the pig and the metals just because the bearded clam spoke. Think about that! We have all known for days that there would be a waterfall either up or down just because the man in charge of the world's reserve currency is going to announce whether or not his crime in progress is going to continue unabated, or if he is going to decrease his criminality just a little.

And this is all going on while the sheeple are flipped from one useless distraction to another. So the markets are going to go up or down, which we think are opposites, but are really just varying degrees of the same fucking crime. Is Ben going to taper or not taper? Again, varying degrees of the same crime.

To think these markets can be saved is akin to thinking that cutting down your aspartame intake and going to 1 pack of cigs instead of two is going to make you healthy. They would just be varying degrees of a slow and painful death.

The system is irreversibly broken, and the sheep are left with varying degrees of hope to hang on to. The world's reserve currency is in its death throes. The fact that you can see a waterfall in the pig like we did today is a joke and a crime. There are no varying degrees in physical gold and silver. If the pig gapped up as much as it gapped down today it would not have been a sign of strength, but a sign of instability. Gap up or down is just a measure of instability; just varying degrees...

Dyna mo hum
Sep 18, 2013 - 6:31pm
Sep 18, 2013 - 6:26pm

Fake 10-Ounce Silver Bars Reported

Last Friday, Sept. 13, a customer came into our store in Lansing, Mich., with some genuine silver dollars plus two specimens of what he claimed were struck Engelhard 10-ounce .999 fine silver ingots of the variety that had the globe on the front (not the eagle as used in later issues). One was wrapped in plastic, while the other was not. The employee assisting this customer immediately knew the pieces were counterfeit as they were too large. Genuine struck Engelhard 10-ounce ingots are about 90 millimeters high and 45mm wide. These two pieces were each about 120mm high (4.8 inches) and 60mm wide. Please see the accompanying photographs showing how these measure against a ruler. The piece with the plastic was put on a scale. Including the plastic, total weight came out to 9.66 troy ounces, far too light to be genuine. In addition, the serial number punched into the front has the appearance of each digit being separately hand-punched, with an irregular look. Genuine ingots have the entire serial number evenly struck in a single stroke. We asked the customer how he came by them. He did not say who had sold them to him, but claimed that he had purchased them a few years ago as an investment. We don’t have any way of knowing if this is an old or a new scam, similar to the fake “replica” 1-ounce brand name silver rounds and ingots that were being sold in internet auctions. In a quick review of eBay auctions, for instance, I was not able to find these obvious counterfeits. Whoever made these pieces, you can expect that they did not stop at just these two specimens. We have never seen them before in our store. Has anyone else encountered them? Can you provide the time and circumstances?
Sep 18, 2013 - 6:23pm


China announces a massive new gold discovery? Just as they've been buying like crazy recently?

That does-not-compute.

Even if they are trying to say to the world that they now potentially have huge new reserves, this can only push down it's value.

I guess the message is "we have the most"?

Very odd. What say you?

Green Lantern
Sep 18, 2013 - 6:14pm

Re: What Is Billionaire Eric Sprott Dumping His Silver To Buy?

He's selling silver to buy silver mines.....because he's smaaht. I'm selling my underwear to buy more shares. I should have tried this a long time ago. Very comfy.

S&P at an all time high. Happy Days are here again.

Motley Fool
Sep 18, 2013 - 6:12pm


That is certainly interesting. Of course, if I wanted to depress gold prices and had the option, I would find such a mine too. Either way, interesting.

Sep 18, 2013 - 6:11pm

On the topic of UK GBP/USD =

On the topic of UK GBP/USD = 1.61219 ▲ wow

I sure picked a crappy time to buy back into silver ($29 silver) lol

Sep 18, 2013 - 6:07pm

Just let this sink in...

Newly discovered Fujian mine could produce 250,000 tonnes of gold

  • Staff Reporter
  • 2013-09-18
  • 12:31 (GMT+8)

Gold ore. (File photo/CFP)

Major gold reserves have been discovered in southeast China's Fujian province, according to local news website Taihainet.

The Fujian Geological Prospecting Bureau has verified the find in Dehua county after over a decade of research and investigation.

The mine is estimated to hold over 10 million tonnes of ores that may produce over 250,000 tonnes of gold. The discovery could also provide important clues for researchers to find other gold mines.

Sep 18, 2013 - 6:04pm

BBC Newsnight tonight

Just watched the live broadcast ... two people were being interviewed about the state of the UK economy, one was Lord Turner - chairman of the FSA - the Financial Services Authority - the regulator of the UK banks (the other was some monkey that I'd never heard of, and who said nothing of note).

At one point they were discussing tonight's speech by Ben Bernanke, and his decision not to taper, and how this could affect the USA debt and further how this could affect the UK economy.

He waffled on about how the UK economy is well on the mend, and finished by saying, in relation to what Bernanke said: "the chances of any bank going bust is now greatly reduced".

Oh my!, the MSM BS is so blatant. They think everyone is an idiot. Just say all is fine and everyone will believe it's the truth.

Maybe everyone is an idiot.

Well, that's what they're relying on, eh?

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 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

Forum Discussion

by argentus maximus, 6 hours 30 min ago
by argentus maximus, 9 hours 47 min ago
by jack3617, Aug 7, 2020 - 5:51pm
by Titus Andronicus, Aug 7, 2020 - 5:13pm
by jack3617, Aug 7, 2020 - 5:06pm
by Steve S, Aug 7, 2020 - 1:59pm