Travel Day

Thu, Jan 3, 2013 - 12:06pm

Between packing and heading to the airport, I thought I'd squeeze in this post.

Not much happening today ahead of the FOMC minutes and the BLSBS tomorrow. The metals are consolidating their recent rebound gains and poised to add another leg higher if we can get the headlines we're looking for.

The FOMC minutes will be interesting in that they will be from the meeting back in December when QE∞ was formalized. They'll be released later today so be sure to check ZH or some other news source for the stories.

For now, the metals are hanging around some moving average levels that need to be watched, particularly in silver. I've got the 200-day MA at 30.85 and, so far, that level has acted as support. Let's hope that it holds above there and begins to move higher after all of the news. The 20-day, 50-day and 100-day are all in the 31.50-32.50 area and that is where the next level of resistance will be found if the rally can extend higher.

Lastly, everyone needs to watch the 10-year and the Long Bond over the next few days. Both are sitting at critical support levels which, if broken, will lead to lower prices (higher rates). As you know, QE is all about providing buying support for the treasury market and, if the bond market begins to break down, it would be a sign that the current $85B/month isn't sufficient for this purpose. I have no doubt that the $85B/month level will need to be increased in 2013 given the current run rate of a $1.7T+ federal deficit. A falling bond market might make this happen sooner rather than later.

Have a great day. Tomorrow it's back to business as usual and there will be a full, new post sometime after the BLSBS at 8:30 EST.


About the Author

turd [at] tfmetalsreport [dot] com ()


ag1969 · Jan 3, 2013 - 7:03pm

FEMA Flood Insurance Fund Running Dry

Without an emergency appropriation from Congress, the National Flood Insurance Program (NFIP)’s cash reserves will run out next week, according to a report in the Huffington Post (“FEMA Says Flood Insurance Program Will Be Broke By Next Week Without New Aid Bill,” by John Rudolf).

Kentucky Congressman Hal Rogers, who chairs the House Appropriations Committee, said Wednesday that FEMA still had “plenty of money” on hand for emergency relief, the Huffington Post report said. But a FEMA spokesman told reporters that while FEMA did have cash reserves for grants to storm victims, the flood insurance program — a separate account — had only a week’s worth of money left.

cliff 567 Mr. Fix · Jan 3, 2013 - 7:09pm

Fix ~ ohm meter reading

Fix, did you put the ohm meter to it?

MUDbone · Jan 3, 2013 - 7:09pm
Stack'em High rckymtn · Jan 3, 2013 - 7:11pm

Yes, rckymtn... GARLIC!!!

Don't waste your silver when you can grow garlic, garlic, garlic... Learn how to use it, always raw, and never pill or powder form.


Big Buffalo · Jan 3, 2013 - 7:12pm


And the party continues into the after hours...

FleetFeet · Jan 3, 2013 - 7:16pm

US Mint sales schedule

It appears that some stackers think the U.S. Mint sells silver bullion coins directly. Not so.

The mint sells numismatic items such as silver Proofs and silver Uncirculated in individual containers or as parts of Mint sets, but the common Silver Eagle goes out only to dealers and registered big buyers. You and I have to go to a dealer to buy a tube of standard ASE's or a Monster Box.

Don't confuse the Uncirculateds with the mass-produced bullion coins. Bullion minting goes on pretty much year-round (except for the holiday break at the end of the year when they switch over to the next year's coinage). American Silver Eagle bullion coins are minted to match demand . . . the more orders they get from dealers and big buyers, the more they will make, and they work to fulfill those orders month-by-month.

· Jan 3, 2013 - 7:17pm

I was just looking at a purchase of AG

Perhaps I should keep watching, but these dips don't last long anymore.

WineGuy · Jan 3, 2013 - 7:19pm

@ Mr. Fix What If Overnight ...

Gold was revalued to $25,000 oz and Silver was revalued to $1,500 oz? The majority of people (99%) would wake up and say WOW, I wished I would have purchased some. Oh well, I missed that boat. Within one to two weeks all 99% will have completely forgotten about said revaluation and would go about their daily lives however difficult it is. Life goes on. We here in Turdland know different. TPTB are in control and will maintain control. Gold & Silver is the next false flag!

Mr. Fix · Jan 3, 2013 - 7:19pm

@cliff 567 RE, ohm meter

I'll check it in a little while, I'm eating my dinner. 

 Thanks for the reminder, I would have forgotten to check that, kind of like to know what a perfect brew reads. 

My initial taste test, determines that it is just a bit stronger than what I bought at the store,

 but it is still crystal clear. That's exactly what I was shooting for. 

Mr. Fix · Jan 3, 2013 - 7:22pm

@ WineGuy

That would truly be like hitting the lotto for me, however, that is not what I expect to happen.

 At least not right away, maybe when it all blows over.

I hope like hell you're right,

 it would be nice to retire.

Bollocks · Jan 3, 2013 - 7:27pm

Monkey Time ...

Agh, relentless PM hammering.

Goddamn monkey time ... kicks in at 1.58. Bash those metals!

tpbeta · Jan 3, 2013 - 7:33pm

Monkeys hunting stops

Look at that reach down to 29.70 to trip stops. Failed - interestingly.

Bollocks · Jan 3, 2013 - 7:34pm

Resistance - huh?

My CS solution measures at 100k when the probes are about an inch apart. 70k when about a cm. Beats me why anyone wants to know that...?

Get a ppm meter to check concentration.

R man J · Jan 3, 2013 - 7:36pm

@kryptonite regarding silver myth video

Now that all the myths about silver shortages are busted and every reason for thinking silver might rise has been convincingly destroyed by this you know if that extremely smart guy on the video will be able to help us poor silver bulls to see the acute paper shortage headed our way? Since like he says abundant silver exists everywhere it probably will be used to instead of trees for money production. /sarc

what a self confident prick. Says he has facts. We should sic SRS Rocco on him. 

· Jan 3, 2013 - 7:38pm

weak correlation

I was refreshing the price of AG on to see if they followed that price smashdown. They did not offer the lowest possible price. The price dipped a bit, but not that low. They kept it about .20 above the actual spot price all the way though.

Hey, that makes a $20 difference on a 100 oz order...

tpbeta · Jan 3, 2013 - 7:39pm

@R man J

No-one has the facts except JPM unfortunately. Everything else is extrapolation and interpretation, mixed in with shills, trolls, pumpers and liars. I may have to go lie down in a darkened room. angry

WineGuy · Jan 3, 2013 - 7:41pm

@ Mr. Fix ...

If TPTB are as powerful as some believe and they can control all markets and pricing then revaluing gold & silver is simply a balance sheet issue. The illusion continues!

dragonfly5 Bollocks · Jan 3, 2013 - 7:44pm

question re: colloidial silver

Great info on the last 2 threads about CS.

Just a question in regards to filtering afterwards. Is there no concern about filtering through a paper towel? Many on this site are concerned and aware about fluoride and other containments in water - what about all the chlorine and other possible residues in a paper towel? I have even heard concerns about some types of coffee filters for the very same reason.

What needs to be filtered out? Can one just let the CS sit for a while and just decanter the top part?

Bollocks · Jan 3, 2013 - 7:47pm


Yes, garlic has amazing properties Stack'em High. I used to take it for colds until I discovered CS.

Don't go chewing and swallowing a large raw clove of garlic though. I did that once, just for fun. Jeez, I had really painful stomach pains almost immediately. It only lasted a few minutes, but it was absolute hell.

Ooops. Won't be doing that again.

cliff 567 Bollocks · Jan 3, 2013 - 7:49pm

Bollocks ~ resistance

I am only assuming that your ppm meter is an ohm meter with probes fixed at a constant distance from each other.

I have an ohm meter.

I do not have a ppm meter, nor have I ever seen or handled one.

Can you give a link to the one that you use?

I like your stuff here Bollocks, you are a plus.

Mr. Fix · Jan 3, 2013 - 7:51pm

The ohm meter reading. cliff 567

 I suppose this would not be a good way to determine the strength, since the reading changes radically depending on how close the probes are, and how deep they are, but here's what I got,

 with the multimeter set on “2M”, with the probes approximately 1 inch apart, the meter reads 0.033.

 The numbers go much higher as I spread the probes apart, and much lower as I bring them together.

 I had already cleaned my American Eagles off, otherwise I would've tested them with them sitting at the proper level in the water.

 Under advice of my daughter, I deluded my mixture 50/50 with more distilled water.

 She felt it was just a bit too strong for her taste.

 Now she thinks it's perfect.

 I guess that will have to do.

Bollocks · Jan 3, 2013 - 7:57pm


"Can one just let the CS sit for a while and just decanter the top part?"

Sure, why not?

When I first started making it I would check the purity of the solution before filtering and after. I never found any difference. So the paper wasn't adding anything to the solution.

Maybe UK paper towels are different to USA ones. Doubt it though.

R man J · Jan 3, 2013 - 7:58pm


I too felt like going and lying down in a darkened room after watching that video. But I have been studying this market too long and he is just wrong. He has no real facts. Classic troll. A beautiful picture of a silver stack at the beginning of the video and then later you realize--hey, it is not his stack. He is a paper guy I am sure.

You think JPM has the facts, why? Why would they even care about facts?

GoldMania3000 · Jan 3, 2013 - 8:01pm

Is this the big run up

Is this the big run up everyone has been talking about. Man no one so this one. Going broke soon all. This will not be the year silver goes boom. not now...later..time to go back to sleep

Bollocks · Jan 3, 2013 - 8:02pm


Loads here:

The TDS ones are perfect. You don't need to spend the sort of money on one that sellers of CS generators are selling them for wink.

Thanks for the comment smiley.

Right, I'm off. Night all.

Mr. Fix · Jan 3, 2013 - 8:02pm

@ dragonfly5

With regards to the filtering, I poured my concoction through a coffee filter, into a coffee mug, then cleaned out my mason jar which had some black powder stuck to the bottom underneath the coins.

 I could not see anything floating in the liquid, but don't go by that, my eyes are really bad.

the Eagle that was on the negative terminal cleaned up with a scrubby pad and looks like new,

 the one on the positive terminal is still badly tarnished on the side facing the other eagle.

 I found that the negative got slightly browned on both sides, but it practically rinsed off,

 the black that was on one side of the positive Eagle only scrubbed off to the point where it now is still noticeably tarnished.

 Since I intend to just keep reusing these two coins, I am done.

dragonfly5 · Jan 3, 2013 - 8:03pm

Another question re: silver as medicine

Is there any evidence that placing a maple on a wound will help heal it - or perhaps a cold sore before it breaks open? Is it possible that some of the silver goodness makes it's way over on the molecular level in enough quantity to be helpful?

GoldMania3000 · Jan 3, 2013 - 8:04pm

Jeff Christian

Is looking smarter then all right now

cliff 567 · Jan 3, 2013 - 8:05pm

Mr Fix

Thanks Mr Fix

I have read elsewhere that by pouring some of this batch into the clean distilled water of the next batch. It gives the electron flow a kick start on the process.

And as for cleaning the coins, have you tried the aluminum foil boat with boiling water and sprinkled with baking soda?

I am going to get a couple of maples and try this out myself.

I would appreciate if you will keep us updated on what you see.

Nigel Black · Jan 3, 2013 - 8:06pm

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