Black Friday Thread

Fri, Nov 29, 2013 - 10:56am

In the holiday spirit, here's an open freebie.

Just a couple of things....

  • We're obviously watching the open interest numbers very closely. We'll get the official numbers from Wednesday in a few hours. With The Comex only showing about 591,000 ounces of registered gold, things are about to get very interesting.
  • The GLD was pillaged for another 5.70 mts of "gold" back on Wednesday. That's 7 of the last 8 days for a total of 22.50 metric tonnes or 723,391 troy ounces. This could also be stated as 1,808 of these:

  • And here are two, short-term charts. Vaulters can attest that Ole Turd has had a very solid week as we've moved through the expiration process. The lows of Wednesday led to a rally today. I had predicted that we'd go out on the highs of the week and, as of 11:00 EST, I've got a shot! Note that, once again, silver is leading gold by a few days. Silver broke through its month-long downtrend on Tuesday. "Rode" the line back down, using it as support for two days, and now is drawing clear and higher. Gold has finally broken its same down trendline today. Both bode well for a bounce and rally as we enter December.

I'll have a new vault thread this afternoon, once I get a chance to review the final OI numbers from Wednesday. Keep in mind, too, that The Comex closes one half hour early today, at 1:00 EST.


About the Author

turd [at] tfmetalsreport [dot] com ()


Nov 30, 2013 - 4:16pm

Gold is governments mortal enemy.... Why would Govt allow competition to their system......they have fought gold tooth and nail for decades.....just to allow a simple solution to appear and remove more users of fiat.......don't think so. I believe they welcome this gold & Silver.

Nov 30, 2013 - 4:20pm

Agree with AgNau

Think they are delighted Bitcoin is working out so well as the public's "new store of real wealth". Prolongs the pillaging.

Nov 30, 2013 - 4:25pm


7 characteristics of money, from Hoffman as Miles Franklin:

(1) It must be durable, which is why we don’t use wheat or corn or rice.

(2) It must be divisible, which is why we don’t use art work.

(3) It must be convenient, which is why we don’t use lead or copper.

(4) It must be consistent, which is why we don’t use real estate.

(5) It must possess value in itself, which is why we don’t use paper.

(6) It must be limited in the quantity that is available, which is why we don’t use aluminum or iron.

(7) It should have a long history of acceptance, which is why we don’t use molybdenum or rhodium.


Bitcoins are:

1) no

2) yes

3) yes

4) too young to be consistent

5) Absolutely NOT.

6) yes

7) no


I don't know about you, but perhaps 4-leaf clovers meet more criteria than Bitcoins do....I think we should use those...and oh are they so rare! LOL....


Nov 30, 2013 - 4:28pm

And remember this....

They HATE Gold (publicly) which translated means they secretely love it.

They LOVE Bitcoin (publicly) which translated means they secretely _________ it.

Fill in the blank. C'mon...give it a whirl.

I have to say, its just plain getting comical around here now.


tmosley Kcap
Nov 30, 2013 - 4:58pm

Kcap: I challenge you to find


I challenge you to find a way to destroy so much as 0.001 BTC. I'll give you an army of 100 million soldiers armed with automatic rifles and 50 thermonuclear warheads, in addition to your own resources.

BTC are as durable as computation. You have to kill ever computer on the planet along with all the backups and offline storage devices to destroy a bitcoin--you have to destroy them all to destroy one.

So your number one is wrong.

Number 4 doesn't make any sense that I can see. You need to define "consistent". BTC has been used for transactions since its early days, and in that it has been consistent. Or if you mean consistent in terms of supply, then it is CERTAINLY consistent, even moreso than gold, given that we may soon be mining gold from asteroids.

Number five is also incorrect. If gold has value in itself, then so does bitcoin. It's value comes from trade facilitation. It facilitates trade and creates value in that manner. I would challenge you to find some other feature than its use as money where gold derives value, keeping in mind that jewelry is wearable money.

Number seven is also incorrect. Those metals, along with platinum and palladium are also money. They just don't have a long history of being used as such. Such a factor applies much more toward acceptance of something as CURRENCY. Money is money, regardless of its acceptance as such.

Nov 30, 2013 - 4:58pm

shop 'till you drop

remember, your shopping supports the economic recovery! freedom isn't free! but this weekend only, it's deeply discounted.

42 Million Dead In Bloodiest Black Friday Weekend On Record

NewsNews ISSUE 48•48 • Nov 26, 2012,30517/

Nov 30, 2013 - 5:11pm

What I like about bitcoin is that the government can never ever

What I like about bitcoin is that the government can never ever touch it.

I realize that the government has the world’s biggest compute and they tell me that this computer in Utah uses as much electricity as a small city … but … I tell ya … it’s the encryption that will keep bitcoin safe.

I know, I know, the government can tell how many times each American jacks-off during the week, what the Chancellor of Germany had for lunch, and the medical records of a wheelchair bound Canadian trying to cross the border … but I’m telling you that bitcoin is surrounded by krypton and the government will never be able to crack it. That is why I invest in bitcoin because it is safe; only limited by how much some computer nerd decides to make it. It is also convenient and easy to use.

Nov 30, 2013 - 5:16pm

The internet is down.

The short term credit market has imploded. The Dollar has dropped out of sight in freefall. The shelves are cleaned out, and you don't have enough for your family after three months of chaos and looting which you were fortunate enough to survive. Your neighbor has something you need, but will not take anything (clothing, household goods, detergent/soap, etc.) you have to exchange(barter). 1.) Will he accept your Bitcoin which you cannot produce? 2.) Will he accept your silver that you place in his hand?

Nov 30, 2013 - 5:20pm

Ok dear, Max is out of control...

"bitcoin is solid gold"

5.57 - 6.10

Keiser Report: Drilling for Fraud (E530, ft. Red Pepper of Nonsense)

(apart from that, a good first half).

Nov 30, 2013 - 5:22pm

Here is a great video from

Here is a great video from Brother John F about silver. After watching it from the 6 minute mark onward (especially the conclusions in the 19 to 21 minute mark), I see no reason the paper price of silver can not hit $14 next year with the miners selling physical at that price. The miners will sell silver at almost any rigged price.

It's also the reason why I would never buy shares in a mining company even though they can be traded profitably by some people.

Nov 30, 2013 - 5:31pm


I used to listen to and trust Max Keiser until I finally admitted I was being duped by him. I always assumed the mainstream media was duping me but never imagined the degree of chicanery of people on the opposite side of the fence. People on both sides of the fence want to bamboozle you and take your wealth.

Nov 30, 2013 - 5:54pm

Stratajema:Does that not


Does that not sound like you may have swung from too bullish to a little too bearish? Linear thinking trends going on forever and all that sort of thing ......

... not saying it can't go to 14 bucks but would there not be a big bounce between now and that time if it were about to do that very thing? The market rarely moves continually in the same direction for long.

Nov 30, 2013 - 6:04pm


You, like all bitcoin-pushers, ignore the obvious. And continue to ignore this even when it's been pointed out countless times (well I have, anyway).

TPTB own the means to transact with it. They also have unlimited amounts of created-from-nothing fiat currency, and so can buy (and I'm sure already own - after all it's a competing currency) as many bitcoins as they want and can affect it's price at anytime they want - just as they do with paper silver and gold.

They will NEVER allow bitcoin to threaten their beloved fiat dollar, until it's time to crash the system, and they then announce another crypto-currency as the new currency to replace the dollar - which is what they want, so they have total control. No more anonymous paper currency. Get rid of the paper dollar. All online transactions can then be monitored and controlled.

But before they get to that stage there will be huge losses for those who continue to believe in the dollar and any competing online crypto currency - they will destroy those too. They will make accepting payment for goods and services in any crypto currency illegal. Easy. That's the end of all of them, apart from theirs. What's the use of a currency if no retailer or service-provider will accept it because they will be jailed if they do?

In the transition between the current fiat system we have, and the new online one, gold and silver will become the thing to own. It's real value as true money will re-surface. Because nobody will trust anything else.

TPTB know gold is real money. They always have. Currencies such as the dollar and crypto-currencies are there to control the sheep - they are means of control. What is real money has to be kept out of the awareness of the masses, or they lose control.

TPTB will never allow that to happen for long, but they know it will happen for a period of time as they transition between the current system and the new one.

That's how I see this will play out.

Those who hold gold (and most-likely silver too) will preserve their wealth when the current system inevitably collapses.

Nov 30, 2013 - 6:25pm

@tmosely, re: Destroying Bitcoin

Although not directed at me, I cannot resist responding.

That's funny, and what a cute trick question!

So let me turn that around to you, can you show me even 0.001 Bitcoin?

Isn't that just the funniest quality of things virtual: THEY DON'T ACTUALLY EXIST!!

Nov 30, 2013 - 6:35pm

There are two possible

There are two possible reasons I can see for BTC rising so fast.

1 Marketing - Max Keiser did his big interview, and it IS a brand name currency above all.

2 A couple of dealing rooms gave a trader the job find out how much BTC is required to overcome background liquidity, to control volatility both ways, and while doing it to accumulate a controlling interest.

The way I see it neither of those possibilities is good news for anyone who needs to manage their risk. Some rides are too exciting for me to buy my ticket. If silver has terrified in the recent past, BTC could provide even more, err ... thrills. I'll just sip my beverage and watch this dance thanks.

Nov 30, 2013 - 6:56pm

What a great line!

"I'll just sip my beverage and watch this dance thanks."

Thanks Argentus. I'll quote you one day soon.

Nov 30, 2013 - 7:22pm

Rickards Da Man

Did a deep dive in physical #gold
flows this week. My prior conclusion is unchanged. When you really want it, there will be none to be had.
Nov 30, 2013 - 7:57pm
Ferd Torgerson
Nov 30, 2013 - 8:37pm

Do Bookies Accept Bitcoin?

I'd have bet every last .01 byte of my Bitcoin (had I owned any) on the Crimson Tide - but decided to pull for Auburn during that last second.

Must be some subliminal connection with all things Au.


Edit: Glad to see DMH posting again the other day. Hoping you are back with us full time soon.

tmosley Bollocks
Nov 30, 2013 - 8:50pm

Bollocks, you do realize that

Bollocks, you do realize that you are saying to just give up, because the feds control the dollar, right? You say "they could do the same thing to bitcoin that they are doing to gold and silver", so why aren't they? The answer is because they CAN'T! Manipulative moves can be tracked 1000 times easier than they can with gold and silver, because everything is recorded in the blockchain. With gold and silver, they can just dump and dump with no accountability to anyone.

"I'm sure they already own it"

Well if you are SURE, because you are such an EXPERT, and certainly aren't talking out of your ass about something that you don't know about, but feel vaguely threatened by.

Making cryptocurrency transactions illegal does nothing but drive it underground (they can't stop it there), or offshore. What's the use of a currency if no retailer will accept it? How about bypassing currency controls, which is the #1 use of bitcoin, and what caused it to explode in value in the first place as Cyprus and Argentina imposed currency controls?

Bollocks, what are you going to do if you are wrong, and the market selects cryptocurrencies over hard to transport gold and silver? Having 0% of a potentially game changing currency doesn't seem wise. People even keep some dollars around because of counterintuitive moves like the one we are in now. Would you bet your LIFE and the lives of the members of your family against the adoption of something genuinely NEW?

tmosley Occasnltrvlr
Nov 30, 2013 - 9:00pm

Occasnltrvlr: Can you show me


Can you show me the internet? Oh, it must not exist! I guess no-one can make money on it or use it. Might want to call your ISP and tell them you want a refund, since they are selling you a bunch of hokum. Might want to cancel your cable to, since that is a bunch of data, and therefore doesn't exist.

Uh oh, no-one tell him about his bank keeping his dollars as data, or his employers bank, for that matter.

And come to think of it, TURD only offers data too! Let's get rid of this chump and his fake newsletter! Its not even on real paper!

Far and Away (7/9) Movie CLIP - The Oklahoma Land Rush (1992) HD

What a bunch of idiots! Don't they know that all that land is worthless! What kind of fool stakes a claim over a new domain of humanity!?

Nov 30, 2013 - 9:21pm

It's OK guys - I found the

It's OK guys - I found the internet !:)

The IT Crowd - Jen Brings the Internet to the Shareholders meeting - WIDESCREEN
Nov 30, 2013 - 9:22pm



Thats it.

Go for it!!


Nov 30, 2013 - 9:47pm

Fascinating Story in the Main Stream Press

Let's set the story. This is 2013. We are well into a decade of political correctness, that is, persons expressing formerly so-called "intolerant" viewpoints are shunned, ridiculed, and humiliated. No matter that such viewpoints were based on religious or other historically held traditional values.

While I completely agree that some past practices and firmly held beliefs, like bigotry or misogyny are abhorrent and should be abolished, I also firmly believe that the PC pendulum has swung too far to the point that the PC crowd has become intolerant themselves. Another symptom of PC run amok is that extreme, morally bankrupt behavior is not identified as being just that. Morality is therefore, relative.

Here is a newspaper article from today, that I cannot stop thinking about, but not for the story. I keep thinking about it because of the complete failure to even ask the proper questions. Instead of asking what possessed the highly educated, brilliant Ivy-leaguer to engage in illegal, risky behavior, the writer just moves past all the normal journalistic questions and instead focuses on the touchy feely emotional impact.

Why did the editor allow this story with not a single hint or suggestion as to the cause of death? Did he kill himself, or was he beaten to death? Why as to either question? Why was there a link to a gay escort site, but no questions as to why the decedent's image was on the site? Was he an escort, or a patron? If he was an escort, who did he service? Is this behavior endemic to Yale? What did Yale do to vet this guy? Why was there no statement from the dead man's husband?

My gut feeling is that the truth is very harmful to those on the extreme left, those that harbor extremely intolerant attitudes towards traditional values. But, since this is the era we live in, what else can we learn from this?

Easy. Journalism is dead, just like the rule of law. One cannot trust anything at face value that emanates from the main stream media. We all know that is true with regard to reporting on the precious metals. Who trusts Jon Christian after his vicious attack upon Andrew Maguire, all of which was false and likely to lead to a lawsuit for defamation?

So, this article just expresses to me the abject failure of current journalism, and for that, the end game scenario just seems all that much closer.

Urban Roman
Nov 30, 2013 - 10:41pm

DT, tmos, et al

I wasn't going to add to the BTC noise today, but just can't help myself.

Bitcoin is an alternative currency. It's better than Monopoly Money. Really, it is the result of a serious, conscious effort to create an online currency. It's approximately what the banks and economists would have done if they had half a brain, and weren't trying to defend an outdated fiat regime.

However, at this stage in the business cycle, and this stage in the civilization cycle, the banks and economists do not have any idea, nor care, what would be best for the people. And I'm pretty sure that if Bitcoin gains much more traction, a lot more effort will be exerted to stamp it out.

Is it worth $1000? Was it worth $100 a while back? What is a $ worth? At this point, I feel safe in saying that this is a mania, because nothing keeps doubling again and again forever. Nothing.

Biggest problem I see with it right now is that not very many people are really keeping their stash in a 'wallet' under their control. They have their bitcoins deposited in Mtgox or Bitstamp or one of the other online exchanges. So here's the problem: as long as its $ price is going up, everybody's happy. But do those online exchanges have enough $$$ reserve to swap everyone out to cash if it declines and a lot of people want out?

Furthermore, these bitcoins on deposit at the exchanges are in digital 'wallets' that belong to the exchanges. There is little guarantee of even getting your bitcoins out if there's a panic.

Oh, and it isn't true that every node on the internet is running bitcoind. It's actually a rather small minority so far. But it is in the tens of thousands, and they are distributed worldwide.

Nov 30, 2013 - 10:56pm

Urban Roman: No doubt that

Urban Roman:

No doubt that BTC has gone parabolic. No doubt that parabolic moves are most often followed by crashes. I wouldn't buy TFATH. I would always wait for at least a 40% fall to add to my position, unless I was opening a fresh one with a minimal initial investment, just so I can be on it in case this is one of those rare cases like the land rush in the American midwest where property values really did just go up for 150 years until they finally reached saturation.

ALWAYS dollar cost average you way into positions like this. I did it with silver, and I am doing it with bitcoin. As of yet, I am only about 1% invested in it, and will be buying now in ~2% increments on major dips unless something changes. Just wish I had started when I first understood what was going on. Silver was 30% higher and BTC was $20 :(

Nov 30, 2013 - 11:00pm


That's why I said to check on what kind of prisoners are there. Is it a maximum-security facility, or minimal security for "political" prisoners?

Nov 30, 2013 - 11:33pm

Nothing new...

Bitcoin is just the digital world mimicking the physical. There is not a limited supply of bitcoins because there are just as many numbers to the right of the decimal place as there are to the left. The only thing that has changed in any of this for any human is the speed in which they do it. Value is never established.

Nov 30, 2013 - 11:39pm

Crony Capitalism

Just saw this:

Michele Obama's black female college pal, who is VP at a big corporation, that donated $47 Million to Obama's campaign, which company disabled security features on the website used to donate money to Obama's campaign that allowed illegal money to flow freely, coincidentally just happened to be awarded the contract to build the huge debacle of a website that is Obummercare. Oh yeah. It was a no bid contract, not one that was done through traditional govt bidding processes.

Why am I not surprised?

Nov 30, 2013 - 11:41pm


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