Marking Time

Wed, Oct 24, 2012 - 10:13am

While we await word from The Bernank and his Goons, here's some stuff to help you pass the time.

As you likely know, there's an FOMC Meeting going on. It wraps up later today and The Bernank will then issue his "Fedlines" at 2:15 EDT. What will they say? Will there be something contained therein that initiates a short-covering rally? We'll see...

In the meantime, here's some stuff to keep you amused. First, I was interviewed twice yesterday and both links are below. Though I'm still just a dope with a Macbook, there might be a few nuggets in here worth noting. The first interview was with Jason Burack of It's about a half hour in length.

Turd Ferguson of TF Metals Report- Gold & Silver Correction Almost Over Big Move Coming In 2013

Then, last evening, Rahul at spoke with The Doc and I again.

Video unavailable

Lastly, I've posted a few links from "Trader Garrett" before and here's another. In this post, Garrett sees many of the same things we see here and projects some optimism for the days and weeks ahead.

That's all for now. I'll be back with an update after the Fedlines.


2:30 pm EDT UPDATE:


I could recap the Fed non-news but why bother? Instead, here's something fun. From my pal "Big Red" in Virginia, "Prepper Rock"!!

EXCLUSIVE 'Gettin' Down on the Mountain' by Corb Lund

About the Author

turd [at] tfmetalsreport [dot] com ()


Sheetrocker Magpie
Oct 24, 2012 - 1:17pm


Should be a great show. I looked it up and bookmarked for later. I saw a documentary on this several years ago, I believe on The History Channel.

It was pretty scary, realizing how close we came, and at the time no one had a clue.

Oct 24, 2012 - 1:19pm

Anyone that believes that

China (and others) have stopped buying G & S please HAT TIP ME. OTHERWISE STOP WORRYING.

Oct 24, 2012 - 1:20pm

roswell aliens

there's a well established community of aliens in roswell. they support themselves by printing and selling souvenir tee shirts, coffee mugs, etc. i know! i myself have a tee shirt from the roswell adult club. "totally topless since 1947!" topless? schmopless! who cares? aliens have no external sex differences.

Oct 24, 2012 - 1:23pm

@ Katie Rose

Regarding the merits of silver over gold;

Silver is the more volatile. It might reach great heights in terms of percentage gain, absolute price, and ratio to gold, but the problem is whether such heights will have any permanency, or whether they will be brief spikes that will crash calamitously, leaving silver holders ever after thinking 'could have, should have' (cashed it all in).

Many around here, expect silver to reach its historic ratio to gold of 15:1, and maybe overshoot, possibly to 10:1 or even to 1:1. The strategy is to pick a series of steps, where you will swap some for gold. You have likely bought all your silver at a ratio to gold of over 50:1, and so if that ratio falls to (say) sub 45, you might want to start swapping some, in steps as the ratio falls. The actual price of gold won't matter, because you'd be paying for it in silver, which had appreciated against gold.

You'd never want to get rid of all your silver. Nobody knows how high it might go, so keep your options open. Also, if private ownership of just one of the metals is banned, then it makes sense to have hedged by owning both.

Oct 24, 2012 - 1:30pm

gold down $7.80 and silver .13.

why does it feel like so much more?

Oct 24, 2012 - 1:36pm


I think because of the slow beating over the last 30 days that make no sense.

clueless one
Oct 24, 2012 - 1:39pm

just hit the button...

on some nice philharmonics...

love those coins..

who knows where we go...but the 30min, daily and weekly look pretty darn good...


ps... gold decline, silver increase brings the GSR down.. ? It just tapped under $1700 and silver looks really stout!

Oct 24, 2012 - 1:40pm

FOMC Preview

from zero hedge via goldman Nothing Now, Moar Later, any thoughts?

Oct 24, 2012 - 1:41pm

RE NASA video


I worked as a life support systems engineer in the shuttle program down at the Kennedy Space Center (affectionately referred to as "the rocket ranch") back in the early 90's, and can tell you that there we lots of stories about UFO's and aliens coming from flight crew members going back to the early Gemini and Apollo programs. One of the more outspoken astronauts is a guy named Story Musgrave, who has boatloads of mathematics, physics and medical degrees (quite remarkable, actually). He claims to have seen craft following the shuttle around and when asked about aliens said "They're out there - I guarantee it." Google Musgrave and Aliens and a jillion links will come up.

Now, in addition to claims of UFO's from some pretty prestigious astronauts, there is a TON of space junk in low earth orbit and another band of it in geo-synchronous orbit.

Last possibility is some sort of stuff sloughing off of the orbiter or FOD coming out of the payload bay during the video. FOD stands for foreign object debris, and is so exciting a subject that it has it's own news site (seriously).

I'm not passing judgement on any one of the possibilities listed above, and for all I know it might just be the astronauts loosing their stack in a cosmic "canoe" accident.

Oct 24, 2012 - 1:51pm


Interesting... so maybe I should start up my own company to collect space junk and capture all those stacks lost in space from the Astronauts! From there I could move on to pulling asteroids closer and mining them for diamonds and gold! That is a cool picture btw... didn't realize there was so much junk floating around Earth, don't those astronauts pick up their own litter???

Dr G
Oct 24, 2012 - 1:54pm

Hello to the $16 handle!

Hello to the $16 handle in gold! This is a BUY for me.

The Watchman
Oct 24, 2012 - 1:55pm


or CFTC Commissioners.

The Watchman
Oct 24, 2012 - 1:57pm
Oct 24, 2012 - 1:58pm
Dr G
Oct 24, 2012 - 1:58pm

@dgstage, always take what

@dgstage, always take what Goldman says and then understand that the exact opposite is true. They are never right, always wrong.

The Fed is joined at the hip with the political in DC. They will do whatever is needed to ensure their candidate is re-elected.

Oct 24, 2012 - 2:02pm


Boeing tests electronics-killing CHAMP microwave missile

more non visible warfare devices. Can't wait till this comes to roost.

Oct 24, 2012 - 2:05pm

Excellent program on UFOs in Arizona

Key witness, Dr. Lynne Kitei, is featured in the Phoenix Lights segment of NatGEO TV 2012 special "Secret History of UFOs". Well worth watching. Edit: that wasn't the Nat Geo program I wanted to link to. Go to and it may be there somewhere.

Oct 24, 2012 - 2:13pm

Ready and waiting...

I've got my Apmex order filled out and I'm just waiting for 'the word'.

I'll either refresh the order for the waterfall or I'll hit 'verify order' real quick.

Oct 24, 2012 - 2:13pm

CDE taking the crown away from SLW?

... the best performing silver stock? This is an interesting development in recent months.

Beastly Stack
Oct 24, 2012 - 2:14pm


My prediction is for a NON-EVENT!

Oct 24, 2012 - 2:16pm

Iran Oil for Gold

Info sourced from zerohedge here:

My thoughts:

(1) Iran is subject to world sanctions, that is, no transactions settled on SWIFT. These sanctions came at the behest of the USA and the West's crony banksters.

(2) Trading Turkish currency for physical Gold is not, however, currently prohibited. Why would the banksters not prohibit ALL forms of currency trading with Iran if they wanted to strangle Iran economically? Are they not wizardly smart enough to have realized that ANOTHER currency could be used to trade for Iranian goods? Surely they knew this.

(3) Iran swaps oil for Turkish currency;

(4) With Turkish currency, Iran buys gold bullion in Turkey;

(5) Couriers, declaring the bullion, paying taxes, fully compliant with all international law, take the gold bullion from Turkey to Dubai. Gold is funneled back to Iran.

(6) Gold is money. Fuc* You Bernanke.


(1) The banksters are not dumb,

(2) They KNOW Iran can trade its oil for some other currency besides petro USA dollars; they know that superficially, monetary sanctions will have the desired effect of MOPE, showing sanctions working to curb the mullahs, and thus create the illusion that the monetary sanctions are working and that Iran will soon be falling to its knees in a contrite request for relief;

(3) The back story is different, though. They KNOW that no mainstream media will pick up on this story: they KNOW that Iran can trade any currency it has for gold, legally, with no violations of international law whatsoever;

(4) They surely know that gold is money;

(5) Hence, Iran WILL accumulate tremendous stockpiles of PHYSICAL GOLD; and then

(6) Surprise, surprise, Iran is either (1) found to have a nuclear weapon, or is (2) believed to be close enough to have a nuclear weapon; which thens results in the following:

(7) Western hostilities/shooting war/invasion of Iran, whereby the PHYSICAL GOLD ends up with the banksters!

Think it cannot happen?

Ask Libya where its gold went . . .

The Doc
Oct 24, 2012 - 2:17pm

watch them tank the

watch them tank the metals.

Fed Holds Serve, No Increase to QE3

The Watchman
Oct 24, 2012 - 2:17pm
Oct 24, 2012 - 2:20pm

Order verified

I was watching MarketWatch's news ticker and hit the verify button within 30 seconds.

QEternity reaffirmed.

Watch for December and a more verbally aggressive Fed.

Hagarth Hang10-Hawaii
Oct 24, 2012 - 2:21pm

NASA - Happy with the activity....

The commentator messed up a little and quickly tried to change her wording, that's always fun for us to point out. Although none of us can really care too much about what is really happening "out there" it is entertaining like guessing the movement of PMs.

Last month this video popped up, subjectively there is a chance of manipulation of the original data but I haven't the where with all to say it's a hoax. UFOs aren't necessarily alein craft, which has me thinking that this may be our own fleet departing the moons surface, sure hope so!

Hang10-Hawaii TJeffson
Oct 24, 2012 - 2:22pm

@TJeffson re space junk

There is a lot of space junk up there that came by way of mankind's exploration efforts. All those different stages on the Saturn V rockets generated a bunch of debris when they separated. Some of it comes from failures and malfunctions of various earlier rocketry attempts. The paths of the low earth orbiting junk will eventually decay and they'll re-enter the atmosphere and burn up. A lot of it comes from various militaries proving that they have the technology to blow satellites out of the sky. The Chinese did this most recently in 2007, creating a big mess. From a NY Times article in 2007... "Michael Krepon, co-founder of the Henry L. Stimson Center, a group that studies national security, called the Chinese test very un-Chinese. “There’s nothing subtle about this,” he said. “They’ve created a huge debris cloud that will last a quarter century or more. It’s at a higher elevation than the test we did in 1985, and for that one the last trackable debris took 17 years to clear out.” It's a fairly substantial and ongoing effort to keep the International Space Station from getting clobbered by this stuff. They routinely move it around a little, and sometimes get the crew into the escape capsule during close calls. The military tracks something like 5,000+ objects the size of a baseball or larger. There are lots of smaller things up there that they don't track.

Oct 24, 2012 - 2:26pm

Rui, CDE vs SLW

I think it is due to the $CDN strength. I noticed G.TO vs GG was a real loser last month, and seems it was due to gold rising more in $US at that time, than in $CDN.

The only way for me to profit "properly" from this, is to buy SLW on margin, so that I have borrowed $US to be repaid in $CDN. Scary though. I'll take a look to see if $US has any tradeable seasonals vs $CDN.

Oct 24, 2012 - 2:29pm

glen beck

anybody ever watch Glen Beck?? if not, everyone needs to turn him on now!! Benghazi cover up by the President of the United States. Incredible new evidence coming out today that is cause for treason

Oct 24, 2012 - 2:32pm

crazy volatile trading in the futures.

never know which way is right.. changes on a .50 piece.. it used to be a dime, inflation.. ya know.

gold up $2 whoopee!

Oct 24, 2012 - 2:32pm

Seems The Metals Market Likes the News

No waterfall, are am I to Optimistic


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