Timmy Tuesday

It's Tuesday. I'll try to have a full post by later today. For now, here's a new thread to discuss the day's events.

Today should be relatively quiet compared to what the rest of the week may hold. The FOMC concludes tomorrow. The ECB might offer a rate cut. And then, of course, the BLSBS is Friday.

For now, physical demand stories continue to proliferate. I'm unable to post links so, if you have any to share, please include them in the comments.

The GLD continues to evaporate with another 2.5 metric tonnes leaving yesterday.

And here's a fun story for you. I have a friend who used to work for one of the big, national accounting firms. Once a quarter, the firm invites back "alumni" for firmwide conference calls with financial bigshots. Last week, the "bigshot" was Tim Geithner. As my friend described it, these events are off-the-record and frank discussions where questions are taken from the audience and honest answers are given. The topic came up of the Great Financial Collapse of 2008. The questioner asked the Lehman weekend and TARP and then followed up with: "Was any thought given to simply nationalizing the banks?"

And Little Timmah said, quoting directly here: "There wasn't enough time".

Note that he didn't say: "HaHaHa. Of course not. This is America. We don't do those kind of things."

He said: "There wasn't enough time".

So, what happens next time...after they've had these 5 years to think and plan? Ponder that one for a while.

I'll be back later today with an update. Have a great day.

TF

251 Comments

Urban Roman's picture

Get your cheat sheets here

cpnscarlet's picture

CME Boss on Phyzz

F-plus-uckin' amazing...

The most enigmatic (considering the source) statement I think we've heard in some time. He is either admitting the next stage - PMs set loose and get ready for force majuere, or he is getting more suckers to put their money on the table for a pump and dump. One can only go with the odds and say its the latter.

PS - for any of you following the last month's posts...I didn't get the teaching gig. Back to hoping for a PM recovery....ugh.

cheekco's picture

SICK OF KWN

God I am so sick of KWN. I can no longer read all this crap and pumping.

I will from now on just believe in me.

I believe that the only thing to hold in this fucked up world is hard  and hold in my hand assets.

It may be the rich soil on this farm that will ripple through my fingers that God has blessed us with.

It may be the beautiful set of twin lambs I found at 6 am this morning that God blessed us with.

It may be the very rich yogort I made with sheepsmilk and ate yesterday and is now stuck to the back of my ass that God has blessed us with.

Anyway, just ranting here

Just feel so blessed that I have so much in my life that is real , I can hold it and it is life sustaining.

All this other crap is nothing more then corrupt , selfservering  and so not real..............

Thank-you God.

thank-you carma or just thank-you sheer luck

I feel so blessed

I find it very difficult to find anything real and true in this world anymore.

Sorry for the ranting

cheeckco

Gold Dog's picture

Urban, Hey! You are supposed to enjoy the music!

Next question, 7 of 20.

What "was just a run around"?

EDIT- Sebo wins....Watchman second.

DOUBLE EDIT- 1,000 Hat Tips to Zoltan for donating his winnings to the local SPCA!!

Urban Roman's picture

There wasn't enough time to

There wasn't enough time to assemble a word cloud ..

Zoltan's picture

Yeah Baby!!!

Can't remember last time I won a competition (love it!!!)

Gold Dog you are a gentleman and a scholar.

Z

Gold Dog's picture

Question 8 of 20, 3rd of 5 tonight.

What "Could be the only thing that's real"?

Modern Alchemy wins with. Your Honey lips.

EDIT- SEBO, a Turdite can only win once.

Bollocks's picture

@Zoltan

Being such a generous soul, umm, do think about changing your avatar surprise. Maybe not a good fit?

On a different topic, where the hell has turd been today? Very quiet.

Gold Dog's picture

Re:Turd

Yesterday he said he was busy as hell until tomorrow.

Gold Dog's picture

Question 9

Who does that power belong to?

Eyeswideopen takes it with "The Devil".

Zoltan's picture

Zoltan's Avatar

Are you kidding me?  That is a custom made P4TF tribute to the Turd's "chain smoking chupacabra" comments regarding Blythe.

Not going anywhere.

Just hope people realize it isn't me (I'm a guy and much better looking in person).

Z

sebo's picture

Moi?

Sooo coool! cool

That was fun! Thanks for your generosity.

I'd also would like to donate my winnings.

Katie Rose lost her stack in some pretty ugly friendship accident.

It would be my pleasure if she wants them.

EDIT: sorry, Gold Dog. I saw your EDIT too late angel

Gold Dog's picture

Stay tuned....

.....for an important announcement after this last question for tonight.

Gold Dog's picture

sebo

no prob, they are yours to do with as you see fit.
Have her send me her addy and I will blast them her way.

Nice thing to do!

Gold Dog's picture

Question 10, and final for tonight

What's the next line?

"And I'm an honest man"

?

Gold Dog's picture

The Watchman

takes the win by a nose after being in second most of the night!

"Work's all I know"

The Watchman's picture

Thanks Gold Dog

travers_2010_photo_finish.jpg

hE0A7BFB3

Bollocks's picture

Cripes Zoltan

I do apologise. I had no idea.

Mind you, where's the proof? LOL.

Gold Dog's picture

Contest update

Petty is great and all but it's time to move on.

Next weekend the album we will be keying off of is "Who's Next" by the Who.

Past winners will be eligable to take home another win.

The questions are going to get harder too! No more printing out the lyrics and reading as fast as you can!

Thanks for playing everyone.

Winners, make sure I have your address.

Dog

EDIT- Here is the link;

Urban Roman's picture

It didn't actually do any good.

Reading the lyrics, against all the Petty fans in Turdville who already know them. By the time I found the lyric you referenced, you were already announcing a winner. 

By the way, does anyone know the answer to my quiz about The Association from last thread?

Nana's picture

I Wanna Be A Pirate

Gold Dog's picture

What a great bunch....

...of Turdites! Bobbejaan also asked me to donate if he won.

No rub on you stackers that are awaiting your shiny. If I won I would sure as hell be keeping an eye peeled for the delivery man!

Your friend,

Dog

SilverTree's picture

Mike Maloney on Eagles

bronsuchecki's picture

Perth Mint demand highest

victori: "I guess Bron Suchecki will make no mention of this in his blog (unless he's got something bearish to say?)"

Do you actually read my blog, this is what i said on April 22, so ZH is 8 days late: "The most interesting thing about this price drop is the reaction of retail clients, who have gone crazy like its 2008. The Perth Mint's bullion website has been having traffic problems and we've had lines at our Perth retail outlet. Depository buying is relatively more subdued, but still the volumes are up."

Purplefrog: "he lumped registered and unregistered together to make his point about how much Comex still has. I guess that is the same as allocated and unallocated. Am I correct in viewing those two categories as totally separate?"

Registered and eligible are both physical real metal, neither are unallocated or paper. While eligible is not "registered" for delivery, I included it because the fact that the owners keep it in COMEX deliverable form and in COMEX warehouses means they have an eventual intent to sell it back into the futures market. If they took it off eligible there would be costs to get it accepted back as eligible. The recent moves in JPM's vault from eligible to registered demonstrate this.

Nick Elway: "If the physical-paper price connect becomes glaringly obvious, will Bron then be able to admit it?"

I am very interested in a physical-paper disconnect. It was the key part of my pesentation at the Gold Standard Institute seminar in 2009 on COMEX, see here http://goldchat.blogspot.com.au/2010/07/degrees-of-distrust.html and it is intimately linked with backwardation in gold. In the blog you linked to the quote from Jim Sinclair tells you what market to watch for the paper physical disconnect, and it ain't 1oz coins. Or do you disagree with Jim Sinclair?

BourgeoisHuckster's picture

@JuggyNil

Hey Smartass, I realize $32/oz for ASE is not the best deal out there but I'd rather buy from my LCS than online for the difference of a few fiat bucks to take physical in hand and walk out the door with my silver. 

Harald's picture

Terry Duffy

BagOfGold's picture

JY896...

You had mentioned watching Neil Macdonald's documentary on CBC about the war on savers ...

& you had also said...

For anyone Photoshop-inclined - -there is a long, lingering frame of large BenB, MarioD and MarkC portraits on a boardroom wall...

So here it is!...

The "Monarchs" Of  Money

The "monarchs"...
 
 
Bag Of Gold
 
 
 
 

 

Fred Hayek's picture

Wow, those JPM customers are an understanding bunch!

According to Harvey Organ, about 2900+ silver contract holders are standing for delivery.  This is fewer of the 9346 who could have than I would have hoped. 

And, according to Harvey, they're setting up to honor the contracts of about half of those 2900 tomorrow.

Okay, fine.  But get this.  Among the various machinations going on in the silver vaults today was this.  JP Morgan officially "adusted"  a massive 8,668,652 ounces of silver out of customer accounts and into the dealer account. 

With JP Morgan's reputation for corruption that now sticks to it like stink on a hobo, one has to wonder about this . . "adjustment".   If you, for some reason, had physical silver being held in JP Morgan's vault wouldn't you be even *more* keen to get it the hell out of there?  Wouldn't you suspect that JP Morgan just took it to pay off contract holders?  One imagines they'd deny it on the phone.  "Your silver, Mr. Gullibucks?  Oh no, sir.  We didn't use your silver.  That would be against the rules."

The Watchman's picture

BIG Gold Production Problem-Reserves Not Replenished

clip_image00225.jpg

Sheetrocker's picture

@ Gold Dog

Just wanted to let you know I think the little contests you run are a real class act. I'm a long-time Petty fan but haven't listened to Mojo much so I was out of this one. Being an old-timer I may fare better with The Who.

One of my all-time favorites from TP.

Syndicate contentComments for "Timmy Tuesday"