Gut Bomb

Thu, Aug 16, 2012 - 12:05pm

Having only just now recovered from an early morning trip to The Waffle House, I'm ready to tackle the day.

First up, it seems like it has been so long since I've:

  1. Made a short-term prediction
  2. Been right

That I feel compelled to tout this one:

Submitted by Turd Ferguson on August 15, 2012 - 7:50pm.
Kinda gotten out of the habit of making short term predictions but here goes.
I think the metals look to move higher overnight/tomorrow. Crude is currently basing above the old double top at 94.25 and the grains are stronger, too. Eventually this will translate onto the short term metals charts that look increasingly positive. A move through the 100-day MA in gold (near 1612) would send price back toward 1620 and beyond.

Let's just see now if gold can get above 1620-25 and if silver can finally get through 28.20. The algos will likely game it back down lower later today but we'll see. I spoke with Winston again this morning and he assured me that demand for physical metal remains "robust" in London and that "every dip below 1600" is being met with increased orders in size. As this physical market continues to create a rising floor in the paper market (see the higher lows on the charts below), eventually this buying pressure will burst the caps at the top of the now 100-day price ranges. WHEN that happens, momentum-chasing algos will flip long and we will accelerate to the upside. This is inevitable and only a matter of time.

Helping things along is crude. Look closely at the chart below and you'll see that we are simply continuing a pattern of breakouts and consolidations that stretches back to late June. As it appears that we have begun another breakout period, the next logical price target appears to be $98-99 before another period of consolidation. IF trend continues, there's no reason not to expect $98 crude at a minimum by late next week.

Just a couple of news items to review. First here's a story on David Walker and the fine work he is doing. I've met David before and he is a very nice gentleman. A true non-partisan, he couldn't care less about who wins the upcoming election, he just wants to see something done regarding the debt and deficits.

And then these two ZH stories regarding gold demand. These stories add credence to what I mentioned above about global, physical demand and the whole "China making a new currency" idea that we discussed yesterday.

And this is a really good, Chris Martenson article that everyone should take the time to read:

Lastly, I feel I must ask you again to keep the comments section of this post as close to on-topic as possible. As we near election season, I know that emotions are high (and getting higher) and it's easy to steer off onto a tangent. Therefore, please try to keep this discussion here focused on the metals and the economy. Discussions about prepping, politics, guns, ammo and insurrection must be taken to the forums. Always keep in mind that this is a public site. While it might be fun for you to type up and post your wildest thoughts regarding the future, you are not the one at risk of seeing black sedans pull up in front of your house. I am. So, again, please try to keep this main page focused on metals and take all other, coincident discussions to the forums. Muchas Grassyass.

It's already noon EDT so I'm going to go ahead and send this now. I hope everyone has a great day. Clearly, this week was not the "explosive, historic" one but next week holds promise. Be right, sit tight and keep stacking.


About the Author

turd [at] tfmetalsreport [dot] com ()


Aug 17, 2012 - 8:55am

Wall Street Insiders Are Rapidly Preparing For Something BIG

Startling Evidence That Central Banks And Wall Street Insiders Are Rapidly Preparing For Something BIG

If you want to figure out what is going to happen next in the financial markets, carefully watch what the insiders are doing. Those that are "connected" have access to far better sources of information than the rest of us have, and if they hear that something big is coming up they will often make very significant moves with their money in anticipation of what is about to happen. Right now, Wall Street insiders and central banks all around the globe are making some very unusual moves. In fact, they appear to be rapidly preparing for something really big. So exactly what are they up to? In a previous article entitled "Are The Government And The Big Banks Quietly Preparing For An Imminent Financial Collapse?", I speculated that they may be preparing for a financial meltdown of some sort. As I noted in that article, more than 600 banking executives have resigned from their positions over the past 12 months, and I have been personally told that a substantial number of Wall Street bankers have been shopping for "prepper properties" this summer. But now even more evidence has emerged that quiet preparations are being made for an imminent financial collapse. That doesn't guarantee that something will happen or won't happen. Like any good detective, we are gathering clues and trying to figure out what the evidence is telling us.

Why Is George Soros Selling So Much Stock And Buying So Much Gold?

I am certainly not a fan of George Soros. He has funneled millions upon millions of dollars into organizations that are trying to take America in the exact wrong direction.

However, I do recognize that he is extremely well connected in the financial world. Soros is almost always ahead of the curve on financial matters, and if something big is going to go down George Soros is probably going to know about it ahead of time.

That is why it is very alarming that he has dumped all of his banking stocks and that he is massively hoarding gold. The following is from

Aug 17, 2012 - 8:58am

@ ClinkinKY

Soros has repeatedly called 1944 “the best year of his life.”

During an interview with “Sixty Minute’s” Steve Kroft, Soros was asked about his “best year:”

KROFT: My understanding is that you went out with this protector of yours who
swore that you were his adopted godson.

SOROS: Yes. Yes.

KROFT: Went out, in fact, and helped in the confiscation of property from the Jews.

SOROS: Yes. That’s right. Yes.

KROFT: I mean, that sounds like an experience that would send lots of people to the
psychiatric couch for many, many years. Was it difficult?

SOROS: Not, not at all. Not at all.

KROFT: No feeling of guilt?


Reported May 2011

NEW YORK (CNNMoney) -- Billionaire hedge fund manager George Soros sold nearly $800 million of gold during the first quarter, as the precious metal surged to record highs.

The investments in gold and mining companies made up about 10% of Soros Fund Management's $8.4 billion portfolio.

Now he has re-bought gold, my question is was all this selling and buying done on insider information?

Lamenting Laverne
Aug 17, 2012 - 9:00am

ECB 'to supervise' all eurozone banks

17 AUGUST 2012 - 09H57

ECB 'to supervise' all eurozone banks The European Commission wants the European Central Bank to act as supervisor for all eurozone banks, not just the region's biggest, the business daily Handelsblatt reported on Friday.

AFP - The European Commission wants the European Central Bank to act as supervisor for all eurozone banks, not just the region's biggest, the business daily Handelsblatt reported on Friday.

German Chancellor Angela Merkel had said at the end of June that the new banking supervisory authority, which is to be set up under the umbrella of the ECB, should be responsible for the single currency area's 25 biggest banks.

But Handelsblatt, quoting EU Commission sources, said the EU's executive arm wants it to supervise all eurozone banks, including Germany's local savings and cooperative banks, even though Berlin does not see such a need.

The newspaper quoted German Justice Minister Sabine Leutheusser-Schnarrenberger as saying that plans for a banking supervisor for systemically relevant banks is "on the European agenda, however for savings banks that enjoy a high level of trust and made it through the crisis very well, there is no need for additional controls."


Salami method much?

ClinkinKY Nana
Aug 17, 2012 - 9:03am

@ Nana---That was a rhetorical question, right?:)

Now he has re-bought gold, my question is was all this selling and buying done on insider information?

Aug 17, 2012 - 9:10am

@ ClinkinKY


He sold paper gold in 2011, my thought is he is getting/will be getting physical this time.....

Aug 17, 2012 - 9:16am

Soros - bad and hardly infallable

Soros funds scores of foundations, think tanks and PR companies in the US for a wide assortment of left-wing causes, including climate alarmism and trying to end American Exceptionalism.

And if he sold all his gold in *early* 2011, that may make him a contrary indicator, unfortunately!

Aug 17, 2012 - 9:19am


As others have noted I smell a rat as well, (ok actually 2). Just like when Paulson was the bag man for GS in the MBS and CDS's, he's a player again. We already know that Soros has been the player coach for many years.

As Day Star has said, I believe you need a minimum of 100,000 shares of GLD to demand delivery of phyzz. What happens when the two of them take theirs? Who else are the big holders who could demand delivery? I am guessing the usual suspects. JPM, HSBC, DM. What's left for the rest of the mice on the ship? What happens after the price crashes and no one has any physical left?

And voila, afterwards the price rockets up and their balance sheets look better. Especially since they can now use it as collateral and in the future as a Tier 1 asset when they change that rule too.

Aug 17, 2012 - 9:26am

Prepare to drool on yourself...

Aug. 17, 2012, 12:02 a.m. EDT

Think twice before jumping on gold’s bandwagon

SAN FRANCISCO (MarketWatch) — Major investors have added to their stakes in physically-backed gold exchange-traded funds and central banks have bought the metal at a record pace — good signs that gold’s about to break out of its recent trading range, but not necessarily indicative of a major rally .

“Too many gold bulls are hanging their hat” on quantitative easing (QE) from either the U.S. Federal Reserve or European Central Bank, said Ed Bugos, director of mining finance at Precious Metals Equity Research.

That mentality is particularly worrisome given the uncertainty surrounding further QE, which helps stimulate the economy, devalue currencies and raise gold’s safe-haven appeal.

Even so, billionaire hedge-fund managers George Soros and John Paulson boosted their gold holdings in the second quarter, implying expectations for higher gold prices despite the metal’s less-than-stellar performance.

Gold futures /quotes/zigman/699338GCZ2+0.06% closed Thursday at $1,619.20 an ounce, up just 0.3% for the month and up 2.6% for the year. They lost 4% in the second quarter.

Paulson & Co. upped its stake in the SPDR Gold Trust /quotes/zigman/41663/quotes/nls/gldGLD+0.60% by 26% for the quarter ended in June, while Soros Fund Management LLC more than doubled its stake in the ETF, according to quarterly Securities and Exchange Commission (SEC) filings released late Tuesday. Read more on Paulson and Soros....

Lamenting Laverne
Aug 17, 2012 - 9:30am

Which forum is used

for the gun control discussion? I have a news link, but it does not belong in the main thread.

Aug 17, 2012 - 9:31am

How surprising, from 18 dead

How surprising, from 18 dead to revised figures below. Did anyone else see the film of them using water cannons? I didn't.

MARIKANA, South Africa—Thirty-four protesters died when they clashed with police near Lonmin LMI.LN -2.24% PLC's platinum mine Thursday, South African police said Friday.

Police said they fired after several unsuccessful attempts to disperse protesters with water cannons, tear gas and stun grenades. When a group of men later charged them with machetes, clubs and firearms, said National Police Commissioner Riah Phiyega, the police used "maximum force" to protect themselves.

The death toll in a deadly clash between police and platinum mine workers of Lonmin climbed Friday, as South African health and union officials said at least 29 people died. WSJ's Devon Maylie reports from the scene of the shooting. Photo: Getty.

In video footage, sustained gunshots can be heard followed by police calling for a cease-fire. Several bodies of miners are later seen on the ground.

Aside from the 34 deaths, 78 protesters were injured and 259 people were arrested, according to the police commissioner.

Aug 17, 2012 - 9:35am

What do they know?

@CA Lawyer: Thank you very much. Actually I have a lot to say, but I'm such a poor writer in English...

This just break in:,,16174023,00.html

Germany’s top court has ruled that, in exceptional circumstances, the country's armed forces may use military fighting equipment on German soil. Though it stressed that the rule only applied in major emergencies.

The Constitutional Court in Karlsruhe ruled on Friday that the German Bundeswehr would be allowed to use military weaponry within the country's own borders.

The decision was reached at a full meeting of all the court judges and permits the use of weapons only in the most extreme circumstances.

It ruled that forces could be deployed under strict conditions, in case of an attack on the country with the potential for scores of casualties.

The judges ruled that troops could be mobilized only in "states of emergency of catastrophic proportions," but never "in reaction to the threat posed by demonstrating crowds."

The ruling would still not allow planes hijacked by terrorists to be shot down, but it would allow warning shots designed to force planes to land.

In the case of the authorized use combat weapons by troops deployed during a national disaster, the court ruled that such decisions would have to be taken by the "government as a whole," rather than the defense minister alone.

The decision of all the judges was necessary after one group of judges, the Second Senate, had said it wanted to allow the military to be allowed to help individual German states.

The ruling reverses a decision by the court in 2006 and came in response to complaints by the states of Bavaria and Hesse.

The 2006 judgment cited constitutional restrictions on the use of the military in light of abuses and atrocities committed by German troops during the Nazi era.

So they can shoot, but not protesters. Who then? Which terrorists can invade Germany, in such a way that Army, which is usually slow in reaction, to be involved? Usually terrorist threats are dealt with fast reaction forces, not army. On the other hand, Malraux quote Le XXIe siècle sera religieux ou ne sera pas." is buzzing me lately. What will do the millions of muslim immigrants in Europe do when their home countries are attacked by western armies? Could it be related to that?

On the other hand, the rounds bought by Social Security Administration, NOAA, Capitol Police, etc. SO now they will have a ton of ammo, but I did not saw requests to buy new guns. And I really don't see the fat ass lady behind the counter to be able to correctly use a weapon. It will became a real danger to her colleagues, not any attacker.

Cop Shoots himself in the leg

Capitol Police bought 600K rounds. How many Tea Partiers gathered in DC couple years ago? I think they were like 2 million. If only half of then bring a rifle and 200 rounds, do the math.

I am thinking that is something else around the corner. What? I don't know. That's why we have to be prepared for multiple situations, not only gold and silver. Lead too, some gas tanks, some solar panels, long and short wave radio, you know. FOOD. Prepper stuff.

When I was a kid, I was playing with 2 suitcases full of old money. Grandpa had a store, and it wasn't poor. In 1947 communists had changed money overnight, and you were only allowed to change up to a top limit (small) with new money. It was the great equalizer, suddenly all became poor. But precious metals become illegal too. People were left with what they had around house. Then they came and take that too, in the name of greater good. All these was possible because people could not believe that something bad can happen, and will be a day when they will came after you.

Can these happen here? I don't see why not. So if you stack, be also prepared to not be able to use it in your lifetime, maybe you need to pass it down 2 generations, while keep it buried. I wish to get 100 gold coins after 50 years, instead of those money suitcases. But grandpa wasn't that smart...

Aug 17, 2012 - 9:40am

The Dollar waves Goodbye

The Dollar Waves Good-Bye

Morris Hubbartt Weekly Market Update Excerpt
posted Aug 17, 2012

  • Silver is my favorite asset at current price levels. MACD has produced a crossover buy signal, and done so in the same area as when silver was trading at about $9 per ounce.
  • I’d like you to focus on accumulating silver in the $24.22 to $29.11 price zone, which is defined by two key Fibonacci retracement lines.
  • Commercial traders are holding close to 60,000 longs in the futures market. This is an extraordinarily large amount, and it indicates they are very bullish.
  • Note the position of the RSI oscillator. It’s rising nicely from a drastically oversold state, and I expect the silver price to soon start doing the same thing!

Aug 17, 2012 - 9:41am
Aug 17, 2012 - 9:41am

Expecting a surge

I'm anticipating a slow surge in the metals consistently pushing higher throughout the day and into the close.

Sure, we'll have our usual small beat downs at certain times but I think we'll mostly see some investor interest starting to build as we move forward. The big money (of course) knows that the market and the environment is sick and the patient 's prognosis doesn't look good.

Today is a telling moment for myself and it merely needs to 'not' get slammed back and just retain most of what it gained. Do we close above $1650 and $30 today? Idk, anything seems possible right now in this void the market is in. I see the currencies were relatively tame overnight in a fairly tight band. Waiting for the shoe to drop?

I have no clue what today holds but one headline or rumor will do it in a blink. Closing above $30 and $1650 is what I'm looking for on a Friday and then seeing it keep those levels through the next week.

I don't mean today and next week, but you never know. One rumor or news flash is all it'll take.

Aug 17, 2012 - 9:44am

Gold Looks to US Data for Fed QE3 Guidance, Oil Outlook Clouded

Commodity prices are treading water in European hours, with all eyes are on the University of Michigan gauge of US Consumer Confidence. Expectations call for the measure to edge slightly lower to 72.2 in August from 72.3 in the prior month. Traders will look to the report to gauge the degree of follow-though on July’s stronger-than-expected employment and retail sales figures.

Traders’ response to the Retail Sales report suggests an upside surprise may be interpreted in terms of reducing Fed stimulus bets, boosting the US Dollar amid receding dilution fears. That threatens to weigh on gold and silver on fading inflation-hedge demand. The likely response from growth-geared crude oil and copper prices is unclear however, with trading patterns somewhat inconsistent of late as the late-summer lull takes a toll on trading volumes. That means finding clear trends in whatever happens over the coming 24 hours will probably prove challenging.

WTI Crude Oil (NY Close): $95.60 // +1.27 // +1.35%

Prices continued higher as expected after taking out resistance at 93.90, the 50% Fibonacci retracement, with buyers now testing the February 2 swing low at 95.41. A breach of this boundary clears the way for a challenge of the 61.8% Fib at 97.82. The 93.90 has been recast support, with a reversal back below that aiming for the July 19 close at 92.51.

Daily Chart - Created Using FXCM Marketscope 2.0

Spot Gold (NY Close): $1615.10 // +12.00 // +0.75%

Prices continue to drift below resistance in the 1620.45-35.70 congestion area. Near-term support remains at a rising trend line support set from late June, now at 1598.30. A break below this boundary exposes a longer-term trend line established from the May 16 bottom, currently at 1577.26. Alternatively, a push above resistance initially targets 1677.79, the May 1 swing high.

Daily Chart - Created Using FXCM Marketscope 2.0

Spot Silver (NY Close): $28.22 // +0.38 // +1.38%

Prices continue to stall above support at 27.68. A break downward initially exposes a rising trend line set from the June 28 low, now at 27.36. Near-term resistance remains at 28.44, with a breach above that opening the door for an advance to challenge 29.42.

Daily Chart - Created Using FXCM Marketscope 2.0

COMEX E-Mini Copper (NY Close): $3.382 // +0.032 // +0.96%

Prices are probing above resistance at a falling trend line set from the April 3 high, a barrier reinforced by a horizontal level at 3.435. A break to the upside initially exposes 3.535. near-term resistance lines up at 3.387, followed by the 3.300-32 area.

Daily Chart - Created Using FXCM Marketscope 2.0

S&P 500 – Prices are resting resistance in the 1415.10-24.90 area marked by the March and May swing tops. A push higher beyond that targets 1440.20, the May 20 2008 high. Initial support remains at 1392.10, with a break below that exposing a minor downside barrier at 1376.10 and a more significant one at 1363.90.

Daily Chart - Created Using FXCM Marketscope 2.0

US DOLLAR – Prices are testing the 10041-75 resistance cluster marked by the range bottom dating from mid-June, the midline of a falling channel set from late May, and a falling trend line established from the July 12 swing high. A break above this boundary would mark the first step toward neutralizing the near-term downside pressure, initially exposing the 100139-69 congestion region. Long-term rising trend line support is now at 10007, with a break below that aiming for the channel bottom at 9975.

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

Aug 17, 2012 - 9:46am

The CME's Daily Delivery Report

The CME's Daily Delivery Report showed that 131 gold and 26 silver contracts were posted for delivery inside the Comex-approved warehouses on Monday. There were only two short/issuers in gold...the Bank of Nova Scotia and Merrill, with 67 and 64 contracts issued. All but one of those contracts went to either HSBC USA [83 contracts] or Deutsche Bank [47 contracts]. The only thing about the deliveries in silver worth noting was the fact that the Bank of Nova Scotia was the long/stopper on all 26 contracts. The link to yesterday's Issuers and Stoppers Report is here.

GLD reported that an authorized participant[s] added 174,569 troy ounces of gold yesterday...and there were no reported changes in SLV.

It was another day of no sales report from the U.S. Mint.

The Comex-approved depositories reported receiving 599,490 troy ounces of silver on Wednesday...and shipped a smallish 32,813 ounces out the door. The link to that activity is here.

By Ed Steer

Gold & Silved daily

Aug 17, 2012 - 9:47am


WikiLeaks: Ecuador grants Julian Assange asylum despite UK 'threats'

The WikiLeaks founder has been holed up in the South American country’s London embassy for almost two months as he tries to avoid being sent to Sweden, where two women have accused him of sexual assault.

On Thursday the Ecuadorian government finally announced that it had agreed to give the maverick Australian asylum because of his fears of persecution over the secret files his whistle-blowing organisation has revealed, which he believes could see him sent to face an unfair trial in America.

There was applause as the foreign minister, Ricardo Patiño, made the declaration that Mr Assange had been given “diplomatic asylum” at a press conference in the capital, Quito.

“We believe that his fears are legitimate and there are the threats that he could face political persecution.

Posted on the

The link is here.

Aug 17, 2012 - 9:49am

Finland prepares for break-up of eurozone

The Nordic state is battening down the hatches for a full-blown currency crisis as tensions in the eurozone mount and has said it will not tolerate further bail-out creep or fiscal union by stealth.

“We have to face openly the possibility of a euro-break up,” said Erkki Tuomioja, the country’s veteran foreign minister and a member of the Social Democratic Party, one of six that make up the country’s coalition government.

“It is not something that anybody — even the True Finns [eurosceptic party] — are advocating in Finland, let alone the government. But we have to be prepared,” he told The Daily Telegraph.

“Our officials, like everybody else and like every general staff, have some sort of operational plan for any eventuality.”

Mr Tuomioja’s intervention is the bluntest warning to date by a senior eurozone minister. As he discussed the crisis, the minister had a copy of the Economist on his desk. It had a picture of Angela Merkel, the German Chancellor, reading a fictitious report entitled “How to break up the euro”, with a caption: “Tempted, Angela?”

Posted at The Telegraph

The link is here.

Aug 17, 2012 - 9:50am

Wow---"Lean Forward"

MSNBC's Touré Neblett: Romney Using 'Niggerization' Against Obama

MSNBC's Touré Neblett just can't resist tossing out the race card whenever possible.

On Thursday's The Cycle, Touré accused presumptive Republican presidential nominee Mitt Romney of using what he called "niggerization" against Barack Obama (video follows with transcript and commentary):

Ah, now I see where he got it. Last year from the esteemed Cornel West, Princeton professor. Payoff at approximately 3:00 in. Is there no depths to which the Left will go? Another rhetorical question:)

Video unavailable

Aug 17, 2012 - 9:51am


Dr. J,

I'll remind you to stop reading Zero Hedge before Turd in the morning, if you remind me to stop reading the WSJ.

The Treasury Department is preparing to revamp the terms of its nearly four-year-old financial backing of Fannie Mae and Freddie Mac FMCC 0.00% in a bid to allay investor concerns that the companies could one day exhaust their federal lifelines, according to government officials familiar with the plans.

The renegotiated agreements, which could be announced as soon as Friday, would change the way the firms pay the government for its support, these people said.

Currently, the government-controlled mortgage-finance companies make 10% dividend payments to the Treasury every quarter, an arrangement that has forced them to borrow money from the government during periods where they don't turn a large profit.

Under the new arrangement between Treasury and the companies' federal regulator, all the firms' quarterly profits would be turned over to the government as a dividend payment; the government wouldn't require such payments in periods when the firms are unprofitable.

Aug 17, 2012 - 10:05am

Market Emotions

Where are yours at? It's easy to suggest that you try to keep them in check while were in the thick of it.

So here's a guide to where we might find ourselves at times without realizing where were at, and maybe why, and how to 'realize' your way back up or down that emotional roller caoster.

Aug 17, 2012 - 10:07am


CME Europe to Accept Gold as Clearing Collateral

CME Europe has just announced that it will now accept gold as eligible collateral for clearing, stating in a press release that it
has extended the range of eligible collateral types to include gold bullion.

So apparently either Ron Paul was right and gold really is money, or else tradition is now eligible collateral for clearing with CME Europe.

Full release from the CME:

Silver Alert
Aug 17, 2012 - 10:11am

Tyberious re: Soros

Perhaps this accounts for Soros' timing. In the beginning of June, Soros predicted Europe had less than 90 days and Sinclair countered it wouldn't be 3 weeks. We're way past 3 weeks but rapidly coming up on 3 months. I'd have to score this one for Soros:

Jim Sinclair’s Commentary

This is coming to head not in three months as Soros said, but in three weeks, maybe less.

Jim Sinclair’s Commentary

This is all coming to a head faster than anyone anticipates.

Soros’ three months is madness issued for the purpose of MSM/MOPE

Dagney Taggart
Aug 17, 2012 - 10:18am

A much nicer Main Street......

So much more inviting to newbies and nurturing of a paradigm shift, which is what we all need if we want to see honest money and a real future for our children and grandchildren.

On DPH's diagram, we look to be entering the contentment phase (knock on wood). When I showed up, this place felt like the 10-13 range and it was doing nobody any good.

The Green Manalishi
Aug 17, 2012 - 10:21am

Cheap at twice the price?

Biggest coin ever made with a legal value of £1,000

The biggest ever gold coin, in both size and value, made by the Royal Mint is set to be cashed in for £65,000.

The enormous coin measures 4.5 inches in diameter - about the size of a CD - and is made from 1kg of solid gold.

Its value is £1,000 - the largest denomination for a coin ever issued by the Royal Mint.

But it would be a little foolish to use the legal tender coin as payment for an item as the 32ozs of gold used to make it is worth £33,000

Aug 17, 2012 - 10:21am
Aug 17, 2012 - 10:26am

Soros Invests Over $130 Million In Gold

In a harbinger of what may be coming our way in the Fall of 2012, billionaire financier George Soros has sold all of his equity positions in major financial stocks according to a 13-F report filed with the SEC for the quarter ending June 30, 2012.

Soros, who manages funds through various accounts in the US and the Cayman Islands, has reportedly unloaded over one million shares of stock in financial companies and banks that include Citigroup (420,000 shares), JP Morgan (701,400 shares) and Goldman Sachs (120,000 shares). The total value of the stock sales amounts to nearly $50 million.

What’s equally as interesting as his sale of major financials is where Soros has shifted his money. At the same time he was selling bank stocks, he was acquiringsome 884,000 shares (approx. $130 million) of Gold via the SPDR Gold Trust.

When a major global player with direct ties to the White House, Wall Street, and the banking system starts off-loading stocks and starts stacking gold, it suggests a very serious market move is set to happen.
Aug 17, 2012 - 10:29am

Remember this December 1st 2009


China, the largest producer and private consumer of gold in 2009, has announced that it wants to build up its Gold Bullion reserves. And by how much? Ji Xiaonan, who chairs the supervisory board for the Chinese State Council's biggest state-owned companies, said Monday the country should look to add a massive 10,000 tonnes in the next 10 years

Aug 17, 2012 - 10:29am

That bond animation

I found it VERY interesting that several months before 2008 hit, everyone started crowding into the short term bonds. I guess that's the reason for Operation Twist - to try to force all those people back into buying longer term paper by diluting the value of the short term. I guess you could say that they've been trying to subsidize the long term at the expense of the short term.

Doesn't seem to have worked, does it? No matter what they do, they can't quite seem to restore confidence back to what it was pre-2008. They're basically dragging this all out in time, aren't they?

Meanwhile BTC has reached the $14 handle and gold is sitting there.

Aug 17, 2012 - 10:40am


He is the insiders, insiders. Defiantly an Illuminist! Where as Mr. Sinclair is smart, but an outsider.


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TWELVE Goon speeches through the week
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