Disinformation & Deceit

Mon, Aug 6, 2012 - 10:58am

Things are getting curiouser and curiouser...

By now, I would imagine that nearly everyone has seen this: (https://www.zerohedge.com/news/libor-may-be-manipulated-silver-not-cftc-conclude). I was sitting here in the TurdCave yesterday afternoon when I saw the original FT story cross the wires. Note the time stamp was exactly 5:00 pm EDT (NY time). Hmmmm. Isn't that interesting? On the next link, you can see that pre-open, electronic trading begins at exactly 5:00 pm NY time, as well. (https://www.cmegroup.com/trading_hours/). Again, hmmmm. I'm sure that's just a coincidence.

Then, when ZH picked up the story, word quickly spread. What was going on here? Who are the "three sources" who divulged this information? Well, our friend The Doc got right on it and quickly found out that it wasn't Bart Chilton (https://www.silverdoctors.com/bart-chilton-ft-report-that-cftc-to-drop-silver-investigation-is-inaccurate-premature-there-have-been-devious-efforts-to-move-price-of-silver/) and several other, industrious Turdites reported receiving similar responses to their inquiries.

So, what are we to make of all this? It would seem that we are left with these possibilities:

  1. The story is true and accurate and the CFTC silver investigation will soon close with nothing done.
  2. The story is inaccurate and is simply shoddy reporting by the crew at the Financial Times.
  3. The story is inaccurate and was deliberately placed in order to influence a certain outcome. Rationale for this ranges from: a) An attempt to initiate another Sunday Night Massacre, b) An attempt to draw in additional SpecShortSheep in advance of lower margins today, c) An attempt to influence the CFTC to conclude the investigation ahead of "schedule" in September, d) An attempt to influence the civil court into dismissing the class action suits against JPM, e) anything else you can think of.

I look forward to reading what everyone thinks and am open to other ideas/theories.

So far, the report has had little impact on price as both metals are currently UP basis the close on Friday. Imagine that!...Gold UP on two, consecutive days. That must be some kind of record. Regardless, the charts are looking increasingly positive and strongly suggest that The Bottoms are in and that a breakout beginning of a new trend is imminent. Be right, sit tight and you will be rewarded.

OK, I'm going to stop there for now because it's already 11:00 EDT and I need to get this posted. Please stay strong. We are entering a critical phase and now is not the time for weak knees. We are all on the right side of history and vindication will soon be ours. More later today or this evening.


About the Author

turd [at] tfmetalsreport [dot] com ()


Aug 6, 2012 - 11:01am


????? Awesome, I will celebrate again by purchasing a sleeve of silver eagles.

Aug 6, 2012 - 11:04am

FT reporters

If anyone get's their emails I email them and try to get to the bottom of it:) Turds call is consistent with some other folks that have been pretty accurate. So I think we are headed higher. Will make new highs soon:)

Aug 6, 2012 - 11:04am


happy to have silver at least stabilizing hope bounce is about ready to take flight

Aug 6, 2012 - 11:06am

The Red Metal

Turd, Any thoughts on copper?

And in keeping with the theme of this thread, I found this interesting...


Aug 6, 2012 - 11:07am

I can't ...

believe i follow someone named TURD. WTF. If i ever told people this they would have me committed.

Aug 6, 2012 - 11:07am

silver medal for me


edit: nope

Aug 6, 2012 - 11:09am


Moving on up

Mr. Fix
Aug 6, 2012 - 11:13am

Top ten again.

Just can't get enough of this site!

Aug 6, 2012 - 11:14am

it is election year

I feel that the worse is coming next year, but I really don't need to say this now do I. I found it interesting that RDS is taking their money out of European banks. Either it is disinformation to make UST look more like the real deal or TSHTF is about to happen in Europe. I am glad I work the Shell account here for my company, those guys are investing huge amounts of capital in the deepwater market here in the GOM. I think we are all in for the big green weenie treatment.

Aug 6, 2012 - 11:15am

In this case...

...perhaps it would be OK for you to use my real name: Percival Sweetwater.

Aug 6, 2012 - 11:18am

What Happened??

I remember the Friday COT report and we thought that the metals would go up in the A.M. followed by the massive plunge later. But now it seems that that has been forgotten and many are jumping in as miners are up. Is the manipulation over this morning?? (No way). jmo

Mr. Fix
Aug 6, 2012 - 11:19am

In this case...

Too funny!

Aug 6, 2012 - 11:29am


this article was probably accurate (ft got the leak from somebody) but as the Mullet said "premature" and they don't want it out right now for whatever reason. parse the Mullet's words. "premature" reporting and "inaccurate" facts do not negate what was the crux of the article: that it will be closed with nothing done.

i don't think it was a bait and switch ploy for short term pain. probably just a leak that shouldn't have been leaked yet as it will need to wait for better headline cover at another time.

but when the final determination does come out it will probably be just as was leaked here or at best some trivial finding on some even more trivial matter. at that time i think it would be an opportunity for the Mullet to man up and resign. that single act would have a great impact not just on the silver market but would also be a shot across the bow of all government-condoned manipulation everywhere.

(of course this assumes the Mullet is not just playing the 'good cop' role here.)

Aug 6, 2012 - 11:32am


i just might buy 3 ase's this is going to be a big week for the metals. time is running out for the shorts. they will have to cover. we may just pop to $30+. no one is going to wait until the week before labor day to do anything.

Fr. Bill
Aug 6, 2012 - 11:34am

Percival Sweetwater!!

OMG!! That name runs through my geneology back to before the Revolution in '76!! Except, before that, it runs into Prussia as Parsival Süßwasser. We've always speculated that great-great-great-great-grandfather Süßwasser thought it politic to adopt an English name when he sought his fortune in the New World and chose this one to keep some vague phonetic memory of his given name.

Turd, it never dawned on me in my wildest dreams that we might be related!

Aug 6, 2012 - 11:36am

LCS Update

Made a pilgrimage to the LCS (Local Coin Show) yesterday with my son-in-law, a promising, young stacker.

Selections were sketchy. Much of what was there had premiums that were off-putting. Common circulated silver dollars (melt = $21.50) carried a $5 to $10 premium, depending on condition. $31.50 for "AU". ASEs $4 to $5 premium. 10 oz. Englehard or JM bars were $320. AGEs were running about 5% over, so that wasn't too bad, but not much available.

Son-in-law scored a bunch of 90% at 19X face. Best deal in the place with a 20X melt value. No silver for me at those prices. However, I did find several $10 Indians (XF - Au) for $810 (melt = $775). Didn't own any, so I bought a 1909 and a 1932 (33's were sold out). Son-in-law bought a 1911. Also found two 1/4 oz. gold Maples for $410 (2% premium on fractional gold seemed OK).

Gold was definitely easier to find at reasonable premium than silver. Just not that much silver available. Hmmmmmmm?

Aug 6, 2012 - 11:36am

Trader Dan


I sincerely appreciate all of your work, and insights you offer.

I looked at Trader Dan's analysis about the PM markets and manipulation. For the sake of time, I am on your and his side. He makes good points though, do you not think? In the end, only physical ownership really matters anymore,, and I suspect even Eric Sprott would agree.

The part that he wrote, "market manipulation theorists discredit the whole" ( paraphrase) was quite sobering, and causes me to think...

Please do not get me wrong, we are all of the same page, and you have more access than me. Perhaps we all need to tempur our expectations a bit... and keep stacking at a discount because we know that the modern -day, more added debt will fix the debt problem,.... is simply unsustainable


Aug 6, 2012 - 11:41am

The Water is too Sweet

Turd, no offense, but I think I'm gonna wait to see some personal IDs, before I jump on board with Percival Sweetwater. :) Not that it's not a handsome, colorful name...but, so is the name Turd Ferguson.

I think I'll get Sheriff Arpaio on this case immediately. ;)

Aug 6, 2012 - 11:42am
Dagney Taggart
Aug 6, 2012 - 11:43am


What's the "big green weenie treatment"?

Aug 6, 2012 - 11:43am

Aug 6, 2012 - 11:48am
Aug 6, 2012 - 11:56am

Ah, we can always count on Turd

To enrich our cultural horizons. :)

Learn something new every day. Thanks!

Aug 6, 2012 - 12:02pm

Removed comment

Removed comment.

Aug 6, 2012 - 12:03pm

Nail In Their Coffin

I remember reading that JP had to stop their manipulation for a time and that is when silver reached it's high last year. No matter how the investigation turns out, those paying attention know what is going on and how to protect themselves from the forthcoming created percipitous downward spiral.

This is tantamount to financial terrorism by the elites, pure and simple.

Remember the elites 3 C's:




The FR was created by the elites to enslave, break and control everyone and everything. Remember, they created currency from nothing to "buy" the world. The FR is neither federal nor does it have a reserve, it prints currency. The FR is a PRIVATE corporation/company and the US courts have ruled it as a PRIVATE corporation/company too.

Never forget currency and MONEY are NOT the same thing!

The only real money according to the Constitution and used throughout the past centuries has been gold and silver.

Every ounce you take out of circulation is another nail in the elites coffin.

Aug 6, 2012 - 12:03pm

@ Percival Sweetwater

We must say that the new name is a wonderful improvement. Names do change as event unfold in a persons life such as : Saul of Tarsus becoming the Apostle Paul and Abram becoming Abraham. From now on as my grandchildren ask about this site, I will tell them is belongs to Percival Sweetwater.

Aug 6, 2012 - 12:04pm

How about Barry Goldwater?

Or Mike Silverstone

or Rube Goldberg

or Golden Richards (ex Dallas wide receiver)

or, finally Auric Goldfinger

Aug 6, 2012 - 12:05pm

@ Dagney

The big green weenie(old paratrooper lingo) refers to the treatment that constantly comes down from higher ranking officials. It means, in layman term, dick in the ass. In my above post I am referring to the treatment that is going to be coming down from the .gov in the future. Thanks for asking :)

Aug 6, 2012 - 12:08pm

Auric Goldfinger could be like

Jessie Livermore--the website Jessie Crossroads Cafe Cafe American can do it--whey not Turd--and he could even have totally legit music.

Aug 6, 2012 - 12:13pm

"We are entering a critical

"We are entering a critical phase and now is not the time for weak knees."

Indeed... We need to be the bee's knees on this one.


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