Three Overnight Items

Mon, Aug 15, 2011 - 10:08pm

Gold and silver performed exactly as expected today. Now that we're moving higher again, where do we go from here? The charts below will help.

I mentioned back on Friday that I was going to be participating in an interview of Clif High, the founder of the WebBot Project. Here's a link to Clif's Wiki page and site:

The full interview has now been posted to YouTube. Yours truly primarily appears in segment number one but I'd encourage you to listen to the entire interview.

Lastly, The Golden Jackass sent me a terrific and detailed email earlier today. He has also given permission to post it here. As you know, Jim is one of the few good guys who isn't afraid to speak his mind. He's also a Turdite. His website and subscription service can be found here:

Jim Willie CB to me

Hey you big Turd-bag
this is the Dirt-bag, aka Jackass Extraordinaire

interesting how Silver is negatively correlated with the USDollar
but so is the US stock market, which grew dependent upon weakness perversely
strange how over the last 18 months the S&P500 stock index became part of the USD Carry Trade
very interesting, almost recognized by the mainstream monkeys too
they failed to realize that the DJIA and S&P indexes merely preserved purchase power, not a bull market
but it means that Silver falls with the S&P500 stocks unfortunately
it will take a couple months to separate the two

the Global QE will in my opinion replace the US QE
it will take the heat off the USFed and the clueless Bernanke
has Ben gotten a single analytic perspective correct in four years ??
I think not
in fact, the Jackass and Big Ben are always on opposite sides, and Ben is wrong every time
with the Bank of Japan buying the USTBond and the Swiss Natl Bank pulling down the Franc currency,
we have the makings of a Global QE
all it needs is a G-7 Meeting with the confused broken central bankers to join hands and sing together

my thinking is that Silver has toyed around and dithered under $40 long enough
it has built a strong base, and shows absolutely zero interest in going below 38
that means the only trade is on the long side, which means over 40
the Weak USDollar trade will be replaced by a Weak Western Major Currency trade
see the USDollar, Euro, and British Pound, all of which all circling the FOREX toilet
the objective of the major central bankers will be to keep the exchange rates calm controlled contained
they can then claim FOREX is stable, mission accomplished, even though the commodity prices will rise again

some money will move from Gold profits to Silver buys, a big new upcoming factor
this is the next important phenomenon along with Large Commercials covering their short positions
I have stated many times that Gold fights the big important political battles
but Silver rides through on a white horse and take triple sized gains
this time is no different and Gold has broken a wide gap in their criminal fortress wall
to be sure, some claim Silver has too much of an industrial component
it does, but it is a staple with stable demand
the big added demand is from investment demand, a powerful new global factor led by the Chinese and Indians
Silver demand is still nearly equal in US$ volume as Gold, an amazing fact

my solid reliable experienced Gold trader contact reports that investment grade Gold bullion comes with a price premium of 25%
and that Silver bullion comes with around a 20% price premium, both versus the COMEX paper prices
he calls the COMEX almost completely irrelevant, but still watched by sheep
translation: Gold is now at $2000 and Silver is almost now at $50

please post this note on your weblog if you wish
any quick thoughts in reply would be appreciated and valued, never depreciated, surely not deprecated
best wishes to you and all the other Turd-lets
greetings from the Land of Jackass Wannabees
/ jim

Have a great overnight/early Tuesday. See you in the U.S. a.m. TF

About the Author

turd [at] tfmetalsreport [dot] com ()


Aug 15, 2011 - 10:22pm

Thanks Turd First

Thanks Turd


Aug 15, 2011 - 10:23pm

I love Jim Willie.. ...Always

I love Jim Willie.. ...Always read him and so glad to know he lurks in this community!

Aug 15, 2011 - 10:29pm

Irene ...Re: last

Irene ...Re: last thread/ginger .......You make it sound fabulous! ...I do like ginger ale. Good and good for tummies.. ...hmmm.. ...don't know why I haven't cooked much with it unless the recipe specifically calls for it. ....I think ever since I had kids I got into the habit of making meals very basic without a lot of dressing them up. My kids were so picky that I found everytime I made something besides basic pot roast ..or basic chicken.. .or basic mac n' cheese.. they'd turn their noses up. ...They are getting a bit more sophisticated now though in their tastes. ......Time for me to start cooking again the good ol days ..before PB&J!

You sound like a pretty fabulous cook.

Aug 15, 2011 - 10:30pm


Paulson cuts B. of A., Citi stakes, ups CapOne

Soros fund cut stakes in Citi, Wells Fargo - MarketWatch


Nice to see Paulson in the GDX Gold Fields Ltd. GFI +2.87% and AngloGold Ashanti Ltd. AU +3.77% .

Aug 15, 2011 - 10:31pm

If you havnt bought SVM calls

If you havnt bought SVM calls yet, I would look into it. This thing is going to squeeze the shorts like lemons. New Years day should be a blast for time frame of POS and the juniors. Keep stackin that phyzz!

Aug 15, 2011 - 10:33pm

Real Estate for Gold/Silver?

repost. Almost the last post and too much effort to leave it behind.


Nice to hear from you Irene. Your right, they could care less.

I'm hoping that gold becomes so integral (finally) that it won't be necessary to sell it to profit from it. And if the Fed. Govt. was smart about it they would let gold be accepted for property exchange or land purchases etc. to help clear the real estate market a bit.

I've been thinking about this a bit and it's a incomplete thought so far but it goes something like this.

1) Lots of available real estate and it's not really moving despite low interest rates. A lack of liquidity or available credit from gun shy banks keeps credit tight.

2) Banks (and the Govt. via Fannie/Freddie) have lots of foreclosed and underwater properties on their books and can't dump them fast enough o provide clear title or documentation to do so.

3) Banks want gold and silver badly and want to offload properties anyway possible. Gold and silver would probably be preferred by them if it were allowed by law as payment for said properties. (pretty sure you all had a light bulb go off there)

4) The Govt. (Central Bank) allows gold and silver to be used for major transactions including real estate and land purchases. Congress passes the law to allow it.

5) Banks are happy with the gold, and the properties and land that the banks (Govt.) hold will start to get sold off at bargain rates in lieu of gold and silver into the banks vaults. The Govt. mandates that titles and documentation on those properties sold for gold/silver get Federal guarantees of a clean final deed and title that is declared valid and enforceable by law.

6) Banks eventually get control of prime tracts of real estate through use of other peoples gold and buy properties from themselves (wtf?) just like our Fed. is buying Treasuries from the US in the form of asset purchases. (someone please explain how that really works and how it makes any sense) They repay themselves with the same gold. (GLD and SLV come to mind?)

Since the Fed. Govt. is essentially run by the Fed. Reserve, all gold and silver that go to a bank is collected from those banks in exchange for fiat or more lax Fed. lending to those banks. The Gold and silver end up in Govt. vaults.

It could work but that would mean that they would have to give us an even break, and they won't. Plus it's too outside of the box for them to even conceive of. Just look at how Ron Paul is treated and has been for many years.

What the Pols. are good at is mocking things that frighten them or they simply don't understand or get. They have successfully done so (so far) with Ron Paul but I think the closer we get to the election the more traction he will pick up.

Vernon Wormer
Aug 15, 2011 - 10:34pm

Turd Rocks

Turd, loved the interview. Nicely done sir. Did anyone glean a timeline for the death of the Euro and $ from the answers provided? I have listened twice now and still can't figure out what he meant.

Also, I am the proud new owner of 6 canned hams from Walgreens. I have no idea why I bought them, but what the hell.

Dr Durden
Aug 15, 2011 - 10:38pm

Wow, the Jackass is here.

Wow, the Jackass is here. Fcuking awesome! Hiya Jimmy.

Loaded up on some shiny this weekend. Sitting tight, being right till Labor Day. You rock, Turdmister.

Aug 15, 2011 - 10:40pm

Silver Thoughts

Dr. Willie is simply the best writer on the web. He predicted a couple of months ago that QE would be a coordinated worldwide phenomenon and now he he reasserted that claim. I think he is exactly right that a coordinated QE would provide cover for Bernanke and the US fiscal and economic problems. Therefore, I still think $50 silver plus or minus $3 by year's end (it may hit $55 or higher, but they will knock it back down to my projected range) and probably somewhere in the $70-$80 range by the end of next year. I would like to see silver base out here a little more, but if last year is any indication, silver should start a decisive move here in 2-3 weeks.

Aug 15, 2011 - 10:40pm
Aug 15, 2011 - 10:43pm



Paul Won Iowa.

Video unavailable

"have you seen what I can do with a corndog Randy?"

I Am The Unknown Comic
Aug 15, 2011 - 10:48pm

Spam Recipe #2

@Ginger - well, I actually waited to post because I didn't want to be first on this new thread, given the excellent information provided by Turd and Jim. I will digest their info info and check the links and post later on that either in this thread or over on Pailin's Trading Corner (Forum, Silver).

So, based on your posts from today's previous thread, I wanted to use my creative talents to post a canned ham recipe for Ginger:

Ginger's Sweet Summer Canned Ham:

1 canned ham

1/2 can pineapple slices

1/2 jar maraschino cherries (1 cherry per pineapple slice)

1/8 cup cloves

1 tblsp tarragon

1 tblsp mint

1 tblsp GINGER

1/2 tsp nutmeg

1/2 tsp allspice

1/8 cup butter

Preheat oven to 350 degrees as things around here could get a little warm, but we don't let them get too hot.

Remove ham from can thus ensuring no canned ham or associated canned speeches, (just like Ginger does with each well thought out and friendly post!).

Mix Ginger, tarragon, mint, nutmeg, and allspice and sprinkle over entire ham.

Arrange pineapple rings around both long flat sides of ham. Insert toothpick through maraschino cherry and attach to ham through center of pineapple ring, so that cherry rests comfortably in center of pineapple ring, both touching ham.

Insert whole clove pieces directly into ham in remaining spaces between touching pineapple rings.

In baking pan, bake in oven 40 minutes. Remove from oven. Collect gelatinized drippings and sautee in sauce pan with butter on low heat until thickened into a jelly-like sauce.

Best served with green bean casserole or similar green vegetable dish, hominy, fresh rolls, and Gewurstraminer wine.

Aug 15, 2011 - 10:53pm

Good stuff from TF and Jim Willie

Global QE? H'mmmm.......

A "Central" central bank sounds like a nwo to me. It won't be a governing body like a sovereign govt. but a Central NWO Bank that basically dictates life on the planet as defined by available credit and credit worthiness plus commodity price fixing (happening now via EE in the markets) and wage controls. Price controls from inflation look likely at some point. They always get mentioned as a possibility.

I also think the next big G-7 meeting and a series of IMF and/or World Bank meetings are going to start to take place more frequently with MSM urgency thrown in to boot to prep the field.

Last makes sense that the banks and Govts. would want the S&P's and Moodys etc of the world out of the credit rating business altogether so that the Central banks can set the credit worthiness of individuals, companies and banks(how convienient). It also would allow them to set the value of their own assets/collateral regardless of their business practices or fiscal irresponsibility or the true underlying value of any asset they deem to be worthy of whatever they want it to be.

Junk is in the eye of the beholder, right? What if you could arbitrarily value it for your own benefit to leverage even further?

Aug 15, 2011 - 10:58pm

@DarkPurpleHaze - Land for Gold

Your post about land for gold -

This makes just too much good sense, therefore: 1) Will Never Happen unless someone like Ron Paul is President; 2) Anyone who puts forth the idea will be branded a financial terrorist until that time; and 3) Bawney Fwank (thhhhppppt) and probably enough Republocrats probably have a law ready to pass to stop it.

Nice Try.

Aug 15, 2011 - 11:02pm

The Jackass

I have subscribed to Jim Willie's newsletter for the past 5 or 6 years........It is WELL worth the reasonable price. It is by far the most valuable newsletter I have subscribed to in my 30 years of trading in the futures markets.

Aug 15, 2011 - 11:11pm

Yes i am a Jim Willie fan and also a big fan of TFmetals

Gotta love the golden jackass take on the state of precious metals, and particularly because of his incredible record of making great mid to long term calls on them as well as the currencies and housing crisis etc.

I find myself gravitating to this site more and more. Just so mcuh good stuff to read thru, starting with the Turd 's Terrific commentary.

Keep up the great work, awesome site.

Aug 15, 2011 - 11:14pm
Aug 15, 2011 - 11:16pm

Turd and Golden Jackass

Thanks to you both for a great post.

Aug 15, 2011 - 11:19pm

Can anyone help me

I am looking to find a resource that gives me ideas on how to introduce silver as a viable payment to businesses I regularly go to. Places like the salon, a local grocery store, etc. Most people are so under educated about what silver really is that they just have no idea and I don't want to overwhelm or confuse them.

I know that everyone says to use your junk fiat but how can we ever educate people if we don't ever practice what we preach.

A zerohedge article today states:

"The construction of silver based barter markets must become a priority. Owning silver is not enough. We must start to use it in place of dollars if we are to have any control over our own economy. Barter efforts like this are becoming much more common, but we are still a far cry from full scale utilization of alternative currencies. With the implosion of the dollar, it will only be a matter of time before metals take primacy as a means of trade, so why not get a head start now?Eventually, the increased circulation of physical will allow the free market to determine the natural value of silver and gold, instead of the subjugated paper market, until finally, the mainstream spot price is completely irrelevant.

Can anyone help with any ideas?

Aug 15, 2011 - 11:19pm

Post Office Bruhaha...hahahaha.

I've been hearing about the Post Office layoffs and how significant it is in regards to the current market conditions.

I've had friends going back into the 80s that worked for the P.O.

As e-mail and on-line information (such as various instructions for 'how to') grew, it was acknowledge back then that the P.O. would become obsolete with time.

Also, the P.O. would raise their rates on a cycle that allowed them to be profitable for awhile, then break even, the into the red until the next postal increase.

While the layoffs do contribute to the unemployment problem, this down sizing is not so much due to the market (although there may be some contribution) but really in large...due to obsolescence.

I worked in third party fulfillment that collated and shipped out all sorts of printed material. That material is now placed on line (to save dollars for the vendors).

In short...people are reading too much into the P.O. layoffs.

Aug 15, 2011 - 11:20pm

“The Sequel”: How 2011 Is A Repeat of 2008—Only Bigger, Longer,

With that, till morning Turds.

Great post this evening Turd, thank you for your continued efforts.

Be well

Aug 15, 2011 - 11:26pm

wallgreens times three

proud possessor of nine (9) celebrity hams. they have a limit of three here in n. florida, but there are lots of wallgreens' stores. while i was there, i noticed they also have honey on sale. thirty two ounce jug regularly $8.99 this week 4.99. that's cheeeeep! honey is :




and a good prep supply, future barter item. i got six jugs.

i might make another circuit of wallgreens tomorrow. i have plenty of little pieces of paper with green ink on them. i think ham and honey will be more useful soon. probably will pick up some large packs of tp too, but not at walgreens.

Aug 15, 2011 - 11:27pm

Investment Grade Bullion?

I'm confused about this part of Willie's note:

my solid reliable experienced Gold trader contact reports that investment grade Gold bullion comes with a price premium of 25% and that Silver bullion comes with around a 20% price premium, both versus the COMEX paper prices he calls the COMEX almost completely irrelevant, but still watched by sheep
translation: Gold is now at $2000 and Silver is almost now at $50.

Huh? I can still find plenty of excellent, investment grade gold and silver bullion (i.e. Eagles, Maples, Philharmonics, Krugs) at far lower prices than this. What does he mean?

Aug 15, 2011 - 11:38pm

perry photo

is that the same sausage that bachman had in her mouth ?

Aug 15, 2011 - 11:42pm

Perry Photo

It is jackinrichmond.

Its a message to the Rotschild banking cartel... "We Swallow!"

Darth Smoker
Aug 15, 2011 - 11:42pm

Yo Yeo

have you been buying 50,000 oz at a time?

Aug 15, 2011 - 11:51pm


Interesting stuff on the youtube link...if only Time Magazine would put the link to the End of the Internet on the cover, I might have a chance of getting to it one day.

As was stated by others, much thanks for the double post to both of you all to getting this in to one post.

Also, I wonder what the impact on Hamhockalypse was related to this forum. Perhaps some future version of webbot can detect this?

Aug 15, 2011 - 11:54pm


for trading purposes I will be careful at this juncture. I smell a bulltrap. GDX and GDXJ and the DOW went up on weak volume today. On Tuesday they reset the COT which could well mean more short covering into the registration of the report and then smashdown as they quickly re-add their short positions post reporting. I don't know. I expect another major assault by those in power. Its never easy and over the last week it has been too easy for Granny. I expect the Empire to return on turnaround tuesday in a major way. They can see Silver could break out above 40. I don't think that is what they want.

Hope I am wrong. Best to everyone, SW

Marc Grail ashtoncole
Aug 15, 2011 - 11:59pm

Silver and Gold Payment Calculator


Check out the iPhone app "Silver and Payment Calculator" by Solari and The Moneychanger. I think it might be a step toward the solution you're looking for.

Aug 15, 2011 - 11:59pm

Thanks for sharing

Great to get Jim's input. Thanks Turd and Jim.

"..along with Large Commercials covering their short positions"

we can only hope this would also include the miners. What a serious injustice its been for so long all this time.


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