Turd Discusses The SNB Peg

Earlier today, I was interviewed by Rory of the SGTReport and The Daily Coin. We discussed a number of pertinent topics, chief among them today's announcement by the Swiss National Bank to remove the Euro currency peg that they initiated back in 2011.

The full link to Rory's post can be found here: http://thedailycoin.org/?p=15929#sthash.sHj2CaRc.dpbs The column contains a summary of the interview plus a few extra nuggets that Rory dug up.

I think you'll enjoy what I recall being a fun and informative discussion.




imach1's picture


Thank you

AlienEyes's picture


I think.

gazzmann's picture

Great discussion gent's

I can't help but get the feeling that the politicians and bankers are coming to the same conclusion as the rest of us. That the last people you can trust, are politicians and bankers. Hence the unraveling. 

ArtL's picture

the way silver is being held back

we can expect an even bigger explosion.

I sure would like to have some words from the Turd why silver is soo important for TPTB to be held down.

-SilverIsMoney-'s picture

5$ spike in 2 min...

Here comes the open!

Mr. Fix's picture

More breaking news:

Largest Retail FX Broker Stock Crashes 90% As Swiss Contagion Spreads

Submitted by Tyler Durden on 01/16/2015 - 08:26

As we first reported last night, FXCM was among the first of many retail FX brokers (and the largest) to see its clients suffer massive losses from yesterday's Swiss Franc surge following the SNB decision to unleash market forces. There are now at least 4 retail FX brokers (FXCM, Excel Markets, OANDA, and Alpari) who have announced "issues" but FXCM, being among the largest and publicly traded is the most transparent example of wjust what can go wrong when average joes are allowed 100:1 leverage. FXCM is now stuck chasing clients for money they do not (and will never) have.. and its stock is down 90%, trading a $2 this morning (down from $17 on Wednesday).


The End Of Fed QE Didn’t Start Market Madness, It Ended It

Submitted by Tyler Durden on 01/16/2015 - 08:16

What we see now is the recovery of price discovery, and therefore the functioning economy, and it shouldn’t be a big surprise that it doesn’t come in a smooth transition. Six years is a long time. Moreover, it was never just QE that distorted the markets, there was – and is – the ultra-low interest rate policy developed nations’ central banks adhere to like it was the gospel, and there’s always been the narrative of economic recovery just around the corner that the politico/media system incessantly drowned the world in. That the QE madness ended with the decapitation of the price of oil seems only fitting.

Turd Ferguson's picture

In the short term...


Just as gold was held tightly below $1240...only to be broken by the SNB announcement...silver is being aggressively  held below $17.25 so as to avoid the appearance of a higher recovery high.

After finding a physical floor at $15.50 in November, silver rallied to near $17.25. A move through that level now would make a bullish "higher high". Thus the cap to keep it below there. See below:

However, as you can see, pressure is building against that level. IF gold can maintain near and above $1260, EXPECT silver to pop higher again, just as it did back on Tuesday when the $16.65 cap gave way and silver rushed to "catch up" to gold technically. A similar pop early next week will take silver UP close to the next red line, near $17.70.

erewenguy's picture

Jim Willie interview part 2

Not sure if this has been posted elsewhere yet, but this is part 2 of a recent interview

usk's picture

Ugly: FXCM

If you want to see blood, check FXCM. Not pretty. This stock was $17 48 hours ago. $1.49 in PM.

s1lverbullet's picture


Is creeping right now.  I'll guess that either today by close or sometime Sunday night silver will bust that cap. 

Turd Ferguson's picture

YouTube trolls


The trolls that follow my every move on YouTube crack me up. Not sure how they do it but they always find and pollute anything posted there. Do they not have anything better to do?

That "Andrew Ryan" character is a trip. He was a member here for three weeks in 2013 before getting banned for being such a douchebag. Still has an ax to grind I see. As if I sit around all day with nothing to do but listen to everyone else's opinion and then recycle it. Give me a break! Oh and by the way, for anyone curious, the site is not "failing". Far from it! Subscriptions and revenue have never been higher. We are on a firm financial footing and very much looking forward to a rebound and resumption of the precious metal bull market in 2015.

CPE's picture


I'm very glad to hear that the site is doing well Turd, you have done a very good job in building something great.  I'm very happy to be able to take part, thank you!

Also, Trolls don't go to heaven:

nadgeskaul's picture

DAX at New All-Time Highs

Flight to quality in Europe...dump Euros, buy German stocks in hopes for repayment of profits in Deutsche Marks.

Wizdum's picture

Emetic Dromedary

Yeah, somebody shot that lame beast...

Fatso's picture

difficulty gaining internet access to Turds site

Turd a heads up, this may affect guests trying to gain access. Perhaps just me but using firefox with apple for the last few weeks it takes me about 20 tries and about 30 to 50 times longer than other sites to get onto this site (i clear my cache often). BUT it is worth it :)

Turd Ferguson's picture

Interesting... thanks


Perhaps admin will see this and get back to you.

Turd Ferguson's picture

Currency volatility


Anyone even remotely tempted to trade FOREX in this environment would be crazy to do so without some assistance. We have a special, short-term advertising promotion with this trading tool. You can see their banner ad in the right sidebar. You can also just click this link if interested in checking it out:


Turd Ferguson's picture

I recall tweeting at that


I recall tweeting at that "barfing camel" moron a few weeks back when it became clear he was dead wrong. Surprisingly, I never heard back from him...

Response to: Emetic Dromedary
Turd Ferguson's picture

Moron "Andrew Ryan"


Longtime readers will also recall a troll that went by the unusual name of "Nonoverlappingmagiccerealman"...something like that. Very likely the same guy as Andrew Ryan as they both had IP addresses from roughly the same area in the US state of Georgia.

Just another trick that trolls like to use. Multiple identities. Again, don't these people have anything better to do?

Response to: @Turd
Turd Ferguson's picture

And so here we go


Silver just shot through and all the way to $17.35. It should accelerate here and move quickly toward $17.60-$17.80 before being capped again.

Dingo's picture

1260 not much of a fight ( so far)

I'm hoping this is the cartel throwing the towel in and going back to managed retreat mode. I guess this happened last January too. Maybe the London monkey's balls freeze off each January and concentrate on copper prices for re-brassing purposes.

nadgeskaul's picture

Is this it? Can we TRUST THIS RALLY?

Tough call...

4 oz's picture



All the more glad my gut told me to stack hard in Nov/Dec.....

Just wish I could remember where I put 'em??


pforth's picture

On the plus side... and the minus side

PM's are finally breaking free of their trading pattern... On the minus side I have about 2 months salary worth of funds parked in cash at FXCM (a leftover from old algo trading days)... if I don't get that back Pm's are going to have to move a lot higher to make up for it.  I guess I'm both scared and excited today.

BarnacleBill's picture

USD just

broke the former high established in 2006.  Better book that European vacation before it all implodes!  Maybe after next Wednesday?  

4 oz's picture

Guy is Always Fun to Listen to....

realitybiter's picture

Subscription renewal

I've been  here since the "Watch Tower" Days...one of my fave riffs of all time, btw...anyway bought a subscription a little over a year ago.  If there were no comments I doubt I would subscribe...the comments are the glue that keep the sanity together.  Sure you get some stuff off base (mine???) but net net it is great and nearly every day a nugget is revealed, never from anywhere expected.....I guess it is a testament to the bigger question of liberty and freedom of speech.  My subscription expired this week and I went one day without it.  I missed it.

As far as the trolling goes, the wall has effectively removed them.  Who cares what they yell outside the wall.  Get some help, Ryan.  And change your underwear.  Don't wait for your Mother to remind you.  John C Reilly's character in StepBrothers is no way to live your life.  Managing a fantasy football team is not a profession.  Nor is commenting on random websites...

Escape velocity is going to be a very large figure for the PMs and the miners.  Just the way it is...Buckle up.  Didn't I mention something about another fitty cents on Ag just 24 hrs ago?  FCXM, but in reverse.

FCXM is experiencing -in a day- what miners and everything else PM related has experienced over the last 3 years.  No tears for you.  CB's are lawless, unrestrained, misunderstood, and a cancerous blight on humanity.....and FX trading!

You should be proud of yourself Craig.  You have built a very good site.  I imagine, I hope and pray, that the PM market gently becomes more mainstream, creating an overwhelming appreciation for the fact that money printing whoring is no way to manage your currency- and that it corrupts everything.......

Those PM appreciating newbies will be looking for info.  Hopefully, they find Turdville.

Now go you SOB.  Print an 18 handle.....

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