Santa Tried To Warn Us

Thu, Jul 12, 2012 - 10:12am

As we watch the metals get savagely beaten this morning, I'm reminded of the warning that Santa posted last Friday and again yesterday. The Cartel is trying again to take down paper price. Will they succeed? Maybe...

Here are the two main components of his post. Remember, this was first posted last Friday so when he says "next week", he's talking about now:

"Next week is the war between manipulation of gold by the West, and appetite for buying gold in the East, both from friendlies and enemies. Anyone that does not see today’s gold market as a rig is blind or brain dead. There is a full blown crisis in Western world banking today, right here and now. There is a full blown crisis in sovereign debt of some weaker nations as in a very short while certain government will be out of money. The Eurosnobs hate each other which does not make for a fast reconciliation of a crisis."

"Next week will be the time the cartel tries to break the gold price again. They have failed seven times, and will fail on the 8th. Gold is going to $3500 and above. All the lying and conniving only means the price will go higher. Just as Morgan’s whale could not fight the market, the cartel cannot fight gold as we have a flight away from all fiat currencies."

So, there you go. As you know I, too, have been concerned about a short-duration, Cartel-inspired plunge that would attempt to take out the plethora of sell stops below 1525 and 26. Can they pull this off? You know they want to. Can they? That is the question. Global physical demand remains extraordinarily strong ( so driving down paper price will only increase the flow out of the LBMA member vaults. We'll justhave to see how this battle plays out.
For today's trip into the archives I offer you this: Written on 12/19/10, I still look back upon it as one of my favorites. Here's the summary paragraph:

"The end of US hegemony is near and with it, the end of the US dollar as "world reserve currency". This catastrophe and all in entails could have been avoided with responsible leadership and an educated/involved populace. However, selfishly, we in the US decided it was best to pursue a plan where we foolishly thought our recklessness was beneficial. This attitude was best summarized by republocrat and Keynesian legend, John Connally, who, as the coin was dropped in 1973, told the world that "the dollar is our currency but it is your problem". Sadly, we allowed Mr. Connally to be prescient for almost 40 years but the world is about to turn the tables. Soon...very soon...the coin will finally reach the narrow end of the funnel and the bottom will simply drop out. What happens next will not be fun and games."

​OK, that's all for now. I've got a full day of meetings ahead of me but I'll be watching this closely and I'll certainly update the blog if needed. Hang in there and be patient.


About the Author

turd [at] tfmetalsreport [dot] com ()


Big Buffalo
Jul 13, 2012 - 8:26am


18 day average and 45 day average right around 1588-1589, looks like we'll need a close above that number, and a close above 1602 would be even better.

personally, i would love to see a slow steady rise, rather than a straight up move. (as you can see, i'm channeling my inner short term bull)

Jul 13, 2012 - 8:31am

Mohegan Sun

Off to take my 80 year old mom to her favorite pastime, blowing my inheritance. LOL! What else is there to do @ 80 but stick $100 bills into a machine. If anyone is heading to Mohegan Sun in Connecticut, I'll be at the 3 card Poker table. Mention Saratoga and I'll buy you a drink. I'll be the one without a big yellow foam hat, losing at cards as badly as my guesses at Ag & Au prices.

I Run Bartertown
Jul 13, 2012 - 8:34am

"Bring in migrants to cut billions from deficit"

Higher levels of immigration over the next 50 years would spare taxpayers from the need to endure much greater austerity, the Government's fiscal watchdog has said.

Money-grubbing 'conservatives' are no better than vote-smuggling 'liberals' on this issue. Cede your Nation - so that someone will pay your pension...will they? La Raza already brags that they will cut all care for pale, elderly Gringos because 'all you build for us is prisons'.

Human beings are not interchangeable units in an economic machine.

ClinkinKY SaratogaPrepper
Jul 13, 2012 - 8:34am

@ Saratoga Prepper

Just go to the window and buy as many silver dollars as you can. Oh...wait...that's right. They don't use them anymore at casinos.

Groaner SaratogaPrepper
Jul 13, 2012 - 8:40am

Who needs to go to the Casino,, we have it here in any

"investment designed by Crook Street."

Peoples Front of Judea
Jul 13, 2012 - 8:43am


Can someone just answer me one question

WTF...ain't the cops parked in Wall Street at this minute with several crates of handcuffs and about 1000 orange

boiler suites. What will it take to get arrested in that town..OH YEA!!! i remember .You just try stealing a bottle of water or protesting .That should do the trick ( sarc off )

Jul 13, 2012 - 8:44am

Thank you Eric Sprott.....

For placing a floor.

Jul 13, 2012 - 8:45am

Silver taking it on the chin???

Gold holding up much better? who knows what these scum bags are doing..

With the PFG, MFG the futures markets are just a scam and the majority are getting out.

The Cartel is losing its CON... the game is very near over for them..

keep stacking.

Jul 13, 2012 - 8:48am

Old news but I still like

Old news but I still like reading it.

Inflate or die

and this

In 1974, Jim Sinclair said the final price the market will peak at $ 900 mark per ounce. January 21, 1980 at the London gold fixing price reached a maximum at the time of $ 850 per ounce. The same day, Jim immediately sold all his gold at that price, earning a net profit of $ 15 million (now about $ 40 million). The next day the price of gold fell to $ 763 per ounce. It was only November 11, 2007, 27 years later, gold could rise again above $ 800 an ounce.

In the early 2000s, Jim Sinclair has created a website – – where he shares his forecasts and evaluates current events. In 2003, he predicted that gold, then at a price of $ 350 per ounce 0 to reach $1650 in 2011. He made a mistake by only $ 100. Gold reached $ 1570 then.

What did Jim say last week? $3500? So far he's got a pretty good track record.

Coffee is working this morning. See you all at cocktail hour at the Speak.

Btw, congrats to IS7 and all who participate there. Last night marked 500 pages and 15,000 posts.

tpbeta agNau
Jul 13, 2012 - 8:49am


Kid Dynamite is of the opinion that Sprott hasn't (yet) gone through with his purchase.

Jul 13, 2012 - 8:51am


Geithner Tried to Curb Rate Rigging in 2008

When Timothy F. Geithner ran the Federal Reserve Bank of New York, he acknowledged fundamental problems with the process for setting key interest rates in the midst of the 2008 financial crisis, according to documents provided to The New York Times.

Mr. Geithner, who is now the United States Treasury secretary, questioned the integrity of the benchmark as reports surfaced that Barclays and other big banks were misrepresenting the rates. In 2008, Barclays had several conversations with New York Fed officials about the matter.

Mr. Geithner then reached out to top British authorities to discuss issues with the interest rate, which is set in London. In an e-mail to his counterparts, he outlined reforms to the system, suggesting that British authorities “strengthen governance and establish a credible reporting procedure” and “eliminate incentive to misreport,” according to the documents.

But the warnings came too late, and Barclays continued the illegal activity.

This story was posted on The New York Times website late last night... the link is here.

Groaner Peoples Front of Judea
Jul 13, 2012 - 8:53am

To me its beyond insane! Dr Paul Craig Roberts stated

and he should know.. that the US Government is the MOST corrupt government in ALL of human history..

Dont expect any justice... period.

Jul 13, 2012 - 9:01am

Why are they pounding silver? Straight down since 7am?

JPM needs to make up for their CDS trading losses I guess.

Jul 13, 2012 - 9:05am

Re "Bring in migrants to cut billions from deficit"

Typical Mope IMHO. Fact = most migrants send a % of their £ earned back home = it's called exporting inflation, ie migrants put a cap on the earnings in the UK, whilst at the same time by sending the £'s home to either the EU or asia, ensure the money actually spent in the UK is reduced. PLUS most of the jobs created are 16hr/25hr per week contracts thereby negating the National Insurance tax liability to the employer of 12%, whilst at the same time enabling the worker to be eligible for state benefits (ie working tax credits/child tax credits/housing benefits) PLUS taking actual work from the indigenous population = unemployment remains high! Net result = inflation/wages remains controlled in the short term = Keynesian policy continues as savers continue to get nothing so must seek other investments/ sell their homes/cash in their savings to pay for care home provision/ then what ever's left gets taxed at 40% before it passes on to their kids. Pity the sheeple can only look straight ahead!

MsMaryMac Strongsidejedi
Jul 13, 2012 - 9:09am

Don't forget our Top Export

In a first, gas and other fuels are top U.S. export

For the first time, the top export of the United States, the world's biggest gas guzzler, is — wait for it — fuel.

— The volume of fuel exports is rising. The U.S. is using less fuel because of a weak economy and more efficient cars and trucks. That allows refiners to sell more fuel to rapidly growing economies in Latin America, for example. In 2011, U.S. refiners exported 117 million gallons per day of gasoline, diesel, jet fuel and other petroleum products, up from 40 million gallons per day a decade earlier.


Jul 13, 2012 - 9:10am
Jul 13, 2012 - 9:17am

With all the scandals going on committed by the financial

syndicate do you think Americans might finally wake up if our buddy Ron Paul could get inside Fort Empty to see that the FED has sold all of the countries gold to suppress the gold price?

Do you think?

probably not..

Eric Original
Jul 13, 2012 - 9:17am

Same Old, Same Old

We've seen this crap before. A group with an agenda comes on the blog, pushes their version of "truth", tells all us poor uneducated plebes how screwed we are and that we need to do our homework, starts ranting about zionism and the Rothschilds, high fives each other on Main St, hat tips each other up the leaderboard, gets in trouble with the mods and starts whining about censorship, seeks sympathy, oh woe is me, blah, blah, blah. Same old, same old.

With moderation the blog becomes useless for truth discovery? Useless as a tool for your own personal Ministry of Propaganda, you mean.

I call Bullshit on your whole cabal. Get a life.

Jul 13, 2012 - 9:22am
Jul 13, 2012 - 9:24am


gets covered up with criminal activity

Jul 13, 2012 - 9:24am

Good Morning Obama-Nation ! SEG/ON

Looks like the the King Kong silver gorilla is about ready to break his chains and climb the Empire State Bldg. USAF bi-planes at the ready to strafe the beast with hot lead ! Look, he's got Dagney ! Cut !!! Dagney, keep your little legs closer together for the close ups ! Action !!! Monedas 1929 Comedy Jihad Historical Repeats

Beastly Stack
Jul 13, 2012 - 9:29am

Out of The Way....

China not crumbling and of course all is well with Dimon and his gang now we can look forward to the Bernank Tues and Wed.

Getting interesting here with the dollar index,can you say DOUBLE-TOP?

Jul 13, 2012 - 9:32am

Looks like we now know why

Looks like we now know why the Fed took over JPM's silver short position:

If I traded paper, I'd have made a few million bucks off of my July 2nd prediction, I think:

Jul 13, 2012 - 9:34am

JPM is up 3%?? Lol.

JPM is up 3%?? Lol. Seriously crazy..

Groaner recaptureamerica
Jul 13, 2012 - 9:40am

They are experts in using derivatives

So its easy for them to manipulate the stock price

Jul 13, 2012 - 9:45am


Thumbs up

Jul 13, 2012 - 9:48am

What happened? So busy at

What happened 4:44? So busy at work, can not check.

Jul 13, 2012 - 9:49am

@ Dr. J

They don't have any idea how to pay for the deficits. Some of them just don't think it matters. This morning a congresswoman was saying raise taxes on the rich. How much would that bring in she was asked by Joe Kernen. $1 trillion she replied. Where is the rest coming from he asked. We are going to save a trillion with the affordable care act. Kernen then had a great comeback. So, if we save a trillion by providing insurance for 30 million then why don't we cover China?

Another line that is often used is why can't we go back to the tax rates that were in place under Clinton. But they don't want to go back to the spending levels under Clinton.

Jul 13, 2012 - 9:52am

Crude Oil, Gold Rise as Risk Appetite Corrects Higher into

Crude Oil, Gold Rise as Risk Appetite Corrects Higher into Week-End

Commodity prices are on the upswing amid a broad-based recovery in risk appetite after second-quarterChinese GDP figures printed broadly in line with expectations overnight. The result was received as net-neutral for sentiment, offering no additional fodder to drive risk aversion. This opened the door for a recovery in growth-geared assets, sending crude oil and copper higher. Gold and silver likewise found support as risk-on conditions sapped haven demand for the US Dollar.

S&P 500 stock index futures are pointing higher ahead of the opening bell on Wall Street, arguing for more of the same into the week-end.The preliminary estimate of July’s University of Michigan gauge of US Consumer Confidenceheadlines the economic calendar. Expectations call for a shallow uptick from the six-month low recorded in June, an outcome that seems unlikely to generate fireworks from price action. Second-quarter earnings reports from JPMorgan and Wells Fargo may prove market-moving however as traders look for evidence on the impact of Eurozone-linked jitters on market-wide financial conditions.

WTI Crude Oil (NY Close): $86.08 // +0.27 // +0.31%

Prices are consolidating above support at 84.14, the 23.6% Fibonacci retracement. Near-term resistance is at 88.40, the 38.2% level, with a break above that exposing the 90.00 figure. Alternatively, a breach of support targets the 81.19-52 area marked by the June 4 low and the 14.6% retracement.

Daily Chart - Created Using FXCM Marketscope 2.0

Spot Gold (NY Close): $1571.95 // -4.45 // -0.28%

Prices broke support at 1575.81, the 38.2%Fibonacci expansion, after putting in a bearish Evening Star candlestick pattern below falling trend line resistance set from late March. Sellers now stand to challenge the 50% Fib at 1555.61, with a break below that exposing the trend-defining 1522.50-32.45 area. The 1575.81 level has been recast as near-term resistance.

Daily Chart - Created Using FXCM Marketscope 2.0

Spot Silver (NY Close): $27.17 // +0.04 // +0.14%

Prices are testing support is at 26.75, with a break below that exposing the multi-month triple bottom at 26.05. Trend line resistance is now at 27.95, with a breach above that exposing the underside of a previously broken Flag formation (currently at 28.78).

Daily Chart - Created Using FXCM Marketscope 2.0

COMEX E-Mini Copper (NY Close): $3.416 // -0.32 // -0.93%

Prices are testing above resistance at 3.445, the 14.6% Fibonacci expansion, with a break higher exposing upside barriers at 3.535 and 3.618. Near-term support remains at the 23.6% Fib (3.378) for now.

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

Jul 13, 2012 - 9:53am


big pop in Euro for reasons unknown


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