Turd's Blog

turd [at] tfmetalsreport [dot] com ()

Craig Hemke, aka "Turd Ferguson," was a licensed securities "professional" for nearly twenty years. Disgruntled by the fraud known as "financial services", he retired to a career as a serial entrepreneur in 2008. Though otherworldly in his ability to forecast price movements, The Turd is NOT a soothsayer, a psychic or a witch. After all these years, he simply has a decent understanding of the forces at play in the precious metal "markets".

You can reach The Turd by visiting the Contact page and selecting "Speak to The Turd" or you can simply send him an email at turd[at]tfmetalsreport[dot]com. If you are polite and not belligerently arrogant, he will probably answer you in short order. If he does not answer you, do not be offended. He's a busy guy and there are only so many hours in a day.

CPI, CGP, Impeachment & Hong Kong

Wednesday, November 13, 2019 - 10:44am

None of these four are directly related but all of these four are moving the markets today.

Let's start with the latest US inflation data. The headline number came in "hotter" than expected at +0.4%...holy cow, that's almost 5%/year!...but that exaggerates the true picture. More than...

The Real Week Begins

The "banker-adjusted" work week begins today.

Tuesday, November 12, 2019 - 11:02am

We've got real GDP, real wages and real interest rates...which are defined by inflation. In the "markets", we have real work days...which are defined by whether or not it's a Bank holiday.

So, yes, this is certainly a real work day as the Bank prop desks are fully open and going to...

Guest Post: "Stranger In A Strange Land", by Jim Quinn

Tuesday, November 12, 2019 - 9:16am

Our old pal, Jim Quinn, is out with another terrific post at his site, The Burning Platform. You should take time to read it.

Again, I've known Jim for nearly a decade now. He's a good man. And like me, he saw what was happening in 2010 and felt compelled to write about it, if anything...

Another Bank Holiday

Buy a gun, rob a bank. Buy a bank, rob everyone.

Monday, November 11, 2019 - 10:12am

While it's always nice to have The Banks closed for the day, we must be aware of what happened last month when The Banks were closed for Columbus Day...they returned with a vengeance on Tuesday!

So it's Armistice Day! Exactly 101 years ago today, the "war to end all wars" drew to a...

The Bombing Campaign Continues

Stay in your bunker a while longer.

Friday, November 8, 2019 - 11:02am

As we discussed in yesterday's podcast, the Comex metals are unlikely to go straight down quickly given the state of the technical internals. And now today, after an earlier selloff and some contradictory trade war headlines, things seem to be stabilizing.

Again, as was mentioned...

The Endless Trade War

It's also just another day in AlgoHell.

Thursday, November 7, 2019 - 10:31am

Why would Trump ever move to end The Trade War when new headlines can be parroted every day that lead to a surge in the stock market? Keep the alleged negotiations going for another five years or so and the Dow will be near 50,000 at a minimum!

If you missed it overnight, a new round...

Endless Corruption

24/7 and everywhere you look.

Tuesday, November 5, 2019 - 11:03am

We've certainly got our work cut out for us this week if we're going to reverse the early week losses. Again today, the bond market in dumping and this is leading to liquidations of Comex Digital Gold and Silver.

And we were already having a bad morning when the PMIs were announced....

Mid-Week Reversals

Where will we be by Friday?

Monday, November 4, 2019 - 10:49am

The past three weeks have all seen early week selloffs that were reversed into positive weekly closes by Friday. Shall we go for four?

Actually so far, the price damage today has been relatively mild. After that crazy Globex rally back on Friday afternoon took CDG all the way to $1516...

Surviving the BLSBS

A fight to the bell.

Friday, November 1, 2019 - 10:59am

After expectations had been lowered to just 85,000 "jobs", you had to know that today's BLSBS would "beat expectations" and that this excuse would be used to club the precious metals. And it was. But a funny thing happened on the way to the woodshed...

Surprisingly, both CDG and CDS...

Bonds Soar In Reaction To FOMC

Is this a trick or a treat?

Thursday, October 31, 2019 - 10:44am

The global bond market is soaring today following the latest FOMC, the Powell presser and some truly lousy US economic data. As you might expect, this has helped to spark a very nice rally in the Comex precious metals, too.

So where do you start on a day like this? When we left off...