Another Parallel

242
Tue, Oct 23, 2012 - 10:40am

Continuing with the current theme, here's another reprint for you. Party like it's 2011!!

Just six, short days after calling "Turd's Bottom" and issuing a guarantee, (https://tfmetalsreport.blogspot.com/2011/01/1600-gold-by-june-10-2011.html) all looked lost. It was January 27, 2011. Prices had peaked three weeks earlier in the post-QE2 euphoria and now nearly every "maven" was dumbfounded by the continuing weakness. Sound familiar?

So, for today, I invite everyone to go back to "The Watchtower" and review this post:

https://tfmetalsreport.blogspot.com/2011/01/sour-grapes.html

You'll find all sorts of parallels to today...even references to the sudden appearance of a shadowy "insider" who had begun posting cryptic messages on the Yahoo Finance boards.

Anyway, keep the faith and hang in there. This, too, shall pass.

TF

About the Author

Founder
turd [at] tfmetalsreport [dot] com ()

  242 Comments

achmachat
Oct 23, 2012 - 12:43pm

@rl999

the main reason why you wouldn't want industrial metals is that only you and a guy with a lab know its purity.

every time you want to use it in a transaction, your silver shots would need to be assayed.

Gold Dog
Oct 23, 2012 - 12:45pm

RE:SRS

Dividends are not an expense. They are a balance sheet item.

Kind of like, you earn $100 and give ten to your child,your income statement still says you still made $100, but your pocket only has $90 in it.

As info.

Dog

Double Bogey TF
Oct 23, 2012 - 12:45pm

I love the analogy

of the almost 300 global easings to the 300 Spartans. 300 global easings in 14 months! Even I can guess how this is going to turn out.

MrGuboci
Oct 23, 2012 - 12:47pm

@Turd

Turd , I was thinking last week when they will implement that . Mb this will be Bens last move ? Don't remember the right amount but about 10 TRILLIONS will flood into the market , gosh I hope so . I don't want to see some stupid consolidation in g&s after a double bottom and dragging at this level for a month or two playing on our nerves like a dog on a piano . I am desperate for some CRAZYNESS in the markets like a huge spectacular spike up to above the 34 level and then some time to process whats happening and then... BOOM 50$ - EASY before 2013 . Or maybe I am just a dreamer ...

MrGuboci
Oct 23, 2012 - 12:52pm

Yep

Again, all of this resembles January 2011. Today is a double bottom in silver and a new low for gold. Tomorrow, The Bernank announces something that spooks the shorts and away we go.

opticsguy
Oct 23, 2012 - 12:56pm

silver shot

I bought a couple of 50 oz bags for $495 each back in 2008. APMEX says that they are not for investment, but I bet they will buy them back if you don't open the bags. The come in elaborate tamper-proof bags.

I figure if it's going to be melted down anyway, why not buy it as shot. This was before the fake silver stories started coming out.

If all else fails, you can reload your 12 ga shells with it and hunt zombies/vampires.

rl999
Oct 23, 2012 - 1:00pm

assay

with a sub gram piece all the testing methods that are foiled by good fakes are relevant.

if someone was bartering with me and said 'that sub-gram size piece is fake' I would cut it in half and let them acid test both pieces.

contrast that to bartering with someone and they say that 1ozt coin is fake, do you really want to cut it up? ditto pre '65 face.

Also the issue with the x-ray scanners (or whatever they are) only penetrating a millimeter or two is solved when all the pieces are that size, and there is no hesitation in defacing them with a knife or hammer prior to testing.

Again, this is more applicable to a meltdown/reset type of scenario than the sit and wait situation we are all in now.

You gain: small size, ease of testing for purity/making 'change'

You lose: spot premium, could be difficult to store

SilverSurfers
Oct 23, 2012 - 1:07pm

May Day

By May Day, Silver COULD be hitting 67$/oz, Gold $2400/oz, and big miner double in price, but the JR miners could go nuts. AUNFF to 4$, for 300% for a silver play, VG to 5$ for 100% gold play. USAC to 7$ for a Silver play. But, when these JR miners get to 5$/share, it opens up Fund participation, and with silver/gold busting out, other asset classes not doing so well, the stage is set for a monster ride on the JR producers, because of not only the bullion price, but because consolidation and price move get them in the cross hairs of the big funds at 5$/share, and a sling shot effect, and I believe 5-10 baggers are doable in producing near-producing JRs by May Day.

4406PACK
Oct 23, 2012 - 1:12pm

2 words to Ron Paul thankyou

Video unavailable

5 % of the vote ends the 2 Party system

its not a wasted vote. vote for your children and grand children

ivars
Oct 23, 2012 - 1:15pm

Tomorrow at around 12:00 NYT

Tomorrow at around 12:00 NYT we may see a short bottom in silver around 31. Then silver price may move up, may be to 32,5-32,7 in following days , but in few days closer to Nov. 1st retest 31 again. TEST again.

Groaner
Oct 23, 2012 - 1:16pm

the PIG hit .80 and is now backing off

will the market close at the lows again? that would be nasty.

OK all the big physical metal buyers can show up anytime now

SRSrocco
Oct 23, 2012 - 1:16pm

REPLY @ SRS INQURY..

Fritz... I may just contact SLW for kicks and giggles... it can't hurt.

Gold Bug... you are correct. I also have questions about Depreciation and Amortization. The mining companies deduct these as a cost... but it seems as if it adds to their Cash Flow.

see... I have a bunch of questions...

Bongo Jim
Oct 23, 2012 - 1:19pm

Arg!

All these tests, I feel like I'm back in school.

Double Bogey
Oct 23, 2012 - 1:22pm

Question on stacking...

Is this what you guys mean when you talk about stacking? My stack of titanium bars are getting a little wobbly. How high do you go before you start another stack? Those Scottsdale stackers help a little for those who are unbalanced, or balance challenged. Advice welcomed. :)

SilverSurfers
Oct 23, 2012 - 1:23pm

Another Parallel

You got that right. Look at NY Crimex, another down gap. that 4 of em, and Silver always closes them thar gaps, never have I seen it like this, 4 gaps from 33.60 to 31.60. When silver bounces off the low, and its zeroing in on 31, I dont think its gonna be some wall of worry stair step up back up, more like a freakin MOON SHOT up up and away and blow through 35 to 37.50 ish .... for a 31-37 moon shot, like over night ... but actually on the CRIMEX, in plan view, in open day light. Election coming, the moon shot coming, the stars align ???

henry
Oct 23, 2012 - 1:23pm

Let the Holidays begin

I just got the last batch underground... before the winter freeze up !

Istack
Oct 23, 2012 - 1:24pm

Turn me loose already

Loverboy - Turn Me Loose (Video)
Groaner Double Bogey
Oct 23, 2012 - 1:27pm

Oct 23, 2012 - 1:28pm

Now read this

For fun, I'll start you with the concluding paragraph:

"And there you have it: a perfectly counterparty free system, in which a transaction is done, and no traces are left behind. More importantly, this is the blueprint for the future, as more and more countries evade the subjugation of the petrodollar regime so ubiquitous for the past century, and which is slowly but surely being shifted to benefit those countries who are not insolvent, and who actually produce things needed by the rest of the world."

https://www.zerohedge.com/news/2012-10-23/how-iran-evades-western-blocakde-turkey-dubai-iran-petrogold-triangle

SilverSurfers
Oct 23, 2012 - 1:28pm

Nice Stack

Yep, that is one nice stack ;) For monster box guys, green just dont cut it, we need these pic's of real stacks, just to remind us what a REAL STACK really looks like. Sweet!!

turn me loose, I hear silver calling, turn me loose ....


Oct 23, 2012 - 1:29pm

More Shenanigans At Citibank


More Shenanigans At Citibank

Do you know why most people in our country distrust financial institutions in general and banks in particular. It’s because often they have good reason to. This past week saw the changing of the guard at Citibank, with Vikram Pandit unceremoniously sacked as CEO. COO, John Havens was given the axe concurrently…..who cares really. Two overpaid executives long receiving entrepreneurial pay for managerial behavior.

On Monday October 16, Citibank announced their third quarter earnings. The numbers were quite good and the stock reacted favorably. All the right things were said….the mortgage portfolio was under control and rumors swirled that Federal Reserve permission was not far off for dividends and share buybacks. On Friday, four days after earnings were announced, Bloomberg reported that Citibank was “carving out” various hedge funds from their Citi Capital Advisors (CCA) division. Citi has $5 billion of its own funds in this division. “Citi has begun transitioning certain CCA businesses from being wholly Citi-owned to being owned primarily by management,” announced spokeswoman Danielle Romero-Apsilos. Presumably the reason for this divestiture is to comply with upcoming Volker Rule restrictions on proprietary trading.
...
Large institutional shareholders need to demand answers to all of these questions. I am also curious to know if Vikram and Havens have any stake in these new arrangements. I hope not because it would constitute a horrible conflict of interest and a breach of fiduciary duty to the company and its shareholders. As an aside why did Vikram and Havens get their heads chopped off? Just a specualtion, but did CCA play any part in the decision?

It is probably a wise course for Citibank to divest hedge fund assets from bank balance sheets. Under Basel III risk weighted asset rules, one must assume that hedge fund assets carry the highest (most onerous) capital requirements of just about anything a bank might hold on its balance sheet. Therefore owning hedge fund assets may detract from Citi’s ability to repurchase shares and pay dividends. That said, shareholders deserve a fair shake here: maximize the value of these assets. Crony capitalism has damaged this company and our country enough already, don’t you think?

https://www.forbes.com/sites/richardfinger/2012/10/22/more-shenanigans-a...

Dr G
Oct 23, 2012 - 1:30pm

SRS, my family started and

SRS, my family started and owned a company for many years that makes top-notch mining equipment. It still is the #1 mining equipment manufacturer in the US. Everything from giant sleuce boxes to trommels to jigs to diamond drill bits for gold miners to enormous wash plants for full scale recovery. Stuff for guys to use on their private claims and stuff that was purchased by the biggest mining companies in the world. Equipment that processes minimal dirt to stuff that can process 1000+ cubic yards/hour.

Our equipment is being used in 32 countries and on 6 continents.

Send me your questions and I'll attempt to get some answers from those at the top of the food chain.

Here are photos of some of the equipment we made:

henry TF
Oct 23, 2012 - 1:36pm

Nice ring to it ...

Nice ring to it ... petrogold.

Colonel Angus
Oct 23, 2012 - 1:40pm

What happens if IOER gets cuts???

All that money that went to the banks no longer is frozen because the arb of making more than it costs to borrow is done. So, the banks start lending. And then achmachat is right...hyperinflation!

SilverSurfers
Oct 23, 2012 - 1:41pm

Turn me loose

All these other PM forums, web cites, posting, debate, debate, yeah yeah, yeah,

BUT TURDVILLE got the greatest tunes!!! JUST TURN ME LOOSE!!!!

Doc G, I got a bus plan, can turn 5m$ into 3B$, say 5 years, interested??? PM me. O.O

ratioarbitrage
Oct 23, 2012 - 1:41pm

A golden scale model - ruined

For those who like matching patterns, February 2009 - April 2010 (14 months) is an astonishing miniature replica of March 2008 to date (53 months), with at least six or seven salient features and miniature shapes. Even April 2010 itself bears similarities to the last month or so. Candle charts are best to see this.

One should not be tempted to peek ahead at what the smaller model does in case it continues to replicate on the larger scale, since doing so - as I just have - always magically cause it to stop. Which means that we are not about to go to $2k in short order, as the scale model would seem to indicate.

Groaner
Oct 23, 2012 - 1:45pm

how many times has the metals dropped right before the

Bernank speaks? I would say everytime. So what else is new.

Istack
Oct 23, 2012 - 1:50pm
Bongo Jim
Oct 23, 2012 - 1:52pm

The SS business plan...

Watch out DocG if SS tells you his plan starts out with a chessboard and Laguna beach.

Big Buffalo
Oct 23, 2012 - 1:53pm

Halo 3

The only thing wrong with Halo 3, is that it's not Halo 2.

Contribute

Donate Shop

Get Your Subscriber Benefits

Exclusive discount for silver purchases, and a private iTunes feed for TF Metals Report podcasts!

Key Economic Events Week of 5/20

5/20 7:00 pm ET CGP speech
5/21 10:00 ET Existing Home Sales
5/22 2:00 ET FOMC minutes
5/23 9:45 ET Markit PMIs
5/24 8:30 ET Durable Goods

Key Economic Events Week of 5/13

TWELVE Goon speeches through the week
5/14 8:30 ET Import Price Index
5/15 8:30 ET Retail Sales and Empire State Manu. Idx.
5/15 9:15 ET Cap. Ute. and Ind. Prod.
5/15 10:00 ET Business Inventories
5/16 10:00 ET Housing Starts and Philly Fed
5/17 10:00 ET Consumer Sentiment

Key Economic Events Week of 5/6

5/9 8:30 ET US Trade Deficit
5/9 8:30 ET Producer Price Index (PPI)
5/9 10:00 ET Wholesale Inventories
5/10 8:30 ET Consumer Price Index (CPI)

Recent Comments

by argentus maximus, 39 min 56 sec ago
by argentus maximus, 5 hours 59 min ago
by Craigo, 8 hours 44 min ago
by scoremore, 10 hours 7 min ago
by scoremore, 10 hours 27 min ago
randomness