On The Edge

Wed, Oct 26, 2011 - 4:44pm

Maybe you've noticed the correlation. Every time The Pig sells off, the conversation here inevitably turns to bacon. I'm not sure why. Maybe it's just one of those subliminal deals.

At any rate, here's a current, graphic image of ole Pigatha Christie:


As you can see, The Pig rests rather precariously on the edge this evening. The area between 76 and 76.50 has alternated between support and resistance for several months. It is currently acting as support again. The next few days should tell the tale. The POSX will either rebound decisively or support will give way, leading to an initial decline to near 75. See below:


Of course, another Calvin "bounce" for The World's Reserve Currency matters little. Where you're headed tomorrow is of little importance when the long-term picture looks like this:


Gold and silver both turned in terrific performances today as they attempt to take out significant resistance and add to their hard-fought gains of late. Gold, by closing today above 1720, looks poised for a quick run to 1765 or so. Silver, if it can just get through 34, should quickly spring toward 37.


Lastly, another site update. No, I am not "trolling for dollars" as some like to claim. In fact, the site is currently on a reasonably sound footing. However, I have received numerous emails asking for:

a) A way to "donate" without using PayPal

b) A way to donate automatically/regularly, on a once-a-month basis

We have accomplished both by adding a revised "Feed The Turd" page. You can find it here:


Note that we've added the ability for generous benefactors to pay The Shimshock Group directly when choosing to help with site management and construction. Anyone that chooses this route can rest comfortably, knowing that their money is being applied directly to the site and not to The Turd's "credit" account at The Bellagio.

Thanks again for all your help in building and maintaining the site. Keep the faith. The rest of this week promises to be pretty interesting. TF

About the Author

turd [at] tfmetalsreport [dot] com ()


Oct 27, 2011 - 7:19am

Now, I really like ScottJ

and we go back quite a long way. But this is just a silly sentence:

"It completely distorts who the most valuable contributors are. (Scott J, Ivars)"


Gold almost to 1720, and silver showing signs of life - and the dollar is losing its toe hold.

Rufanuf tread_w_care
Oct 27, 2011 - 7:21am


Couldnt agree more. I would enjoy reading the main blog so much more, (And I probably wouldn't contribute at all because I am an investor and trader using the blog to gather information) if those that wanted to post useful thoughts and ideas where allowed to without criticism and ridicule, and I didnt have to sift thru so much embedded You Tube and artwork, that being used as just a sort meaningless cyberspace chatter. Ok occassionally everyone wants to lighten up, but when it becomes the majority of the contributions, it gets a but silly.

Oct 27, 2011 - 7:24am


The reason Scott J is such auseful contributor, is becuase he does just that. He doesnt ridicule others for their ideas, in fact he often asks poinient questions that raise even more interesting subjects. Ivars likewise is a polite contributor to the blog yet gets his arse ripped out for his ideas...then theres the other two....we all know who I am talking about.

Oct 27, 2011 - 7:25am

from Reuters - Endless summits take toll on tense EU leaders


Endless summits take a toll on tense EU leaders Wed, Oct 26 13:45 PM EDT

By Luke Baker and Andreas Rinke

BRUSSELS (Reuters) - In a normal year, Europe's heads of state might meet five or six times at most -- at EU or G20 summits or other pow-wows of the powerful. Those that don't get along don't have to worry: they only have to make small talk for a few hours.

But the last two years haven't been normal for the leaders of the European Union. The deepening sovereign debt crisis is threatening to tear their monetary union apart and the stresses and strains of dealing with it are clearly starting to show.

Since the beginning of 2010, when the crisis began, at least 17 summits and countless bilateral meetings have been held as they try to solve spiraling problems that have infected Greece, Ireland and Portugal and threaten Spain, Italy and potentially France, the region's second largest economy.

Some of the gatherings have lasted for 20 hours or more, spread over two days, with the leaders closeted on the upper floors of the brown marble Justus Lipsius building in Brussels, locked in heated and sometimes angry debate....

Oct 27, 2011 - 7:28am

For you Natural Gassers


"One of the most remarkable — perhaps game-changing — developments in the Middle East has been the discovery of massive natural gas deposits in the eastern Mediterranean. Will this transform Israel into a wealthy energy-exporting state? Will it produce more conflicts in the area given conflicting claims by Cyprus, Israel, Lebanon, and Turkey?..."

Oct 27, 2011 - 7:30am

Oct 27, 2011 - 7:33am

Richard Eppstein says inequality adds incentives


Richard Epstein discusses the upside of inequality - great defence.

Oct 27, 2011 - 7:37am
Oct 27, 2011 - 7:53am



The Private Sector Involvement (PSI) has a vital role in establishing the sustainability of the Greek debt. Therefore we welcome the current discussion between Greece and its private investors to find a solution for a deeper PSI. Together with an ambitious reform programme for the Greek economy, the PSI should secure the decline of the Greek debt to GDP ratio with an objective of reaching 120% by 2020. To this end we invite Greece, private investors and all parties concerned to develop a voluntary bond exchange with a nominal discount of 50% on notional Greek debt held by private investors. The Euro zone Member States would contribute to the PSI package up to 30 bn euro. On that basis, the official sector stands ready to provide additional programme financing of up to 100 bn euro until 2014, including the required recapitalisation of Greek banks. The new programme should be agreed by the end of 2011 and the exchange of bonds should be implemented at the beginning of 2012. We call on the IMF to continue to contribute to the financing of the new Greek programme.

Read more at the link above

Oct 27, 2011 - 7:56am

Now that everything has been

Now that everything has been sorted (sarc on) guess what ? Yep, back we go to the US problems. Bit like a trans atlantic ping pong match.


Oct 27, 2011 - 7:57am


Good morning you hat-tip whore! It has been a little lonely out here - and my videos are perhaps on the esoteric side this a.m.

But gold and silver are taking off as I type - did the deal fall apart? I was only going to give it an hour or so.

Oct 27, 2011 - 7:59am

....and this one is for

....and this one is for ScottJ yes

October 27 is 12 Cauac/Kawoq. Reflect on the path and experience of your life so far, in peace and tranquility. Do not judge, simply reflect and consider, so that you may discern how best to adjust your life path to direct it toward your most desired horizon. Today, you can choose the quality of the Rainstorm you want or need: a hard, driving cyclone to wash away lingering negative thoughts, habits, or patterns; a soft, nurturing rain to grow new seeds you have planted; or perhaps a sensual, tropical storm to stir up your creative juices. Cauac’s energy has infinite power and infinite possibility—use it fully and use it well.

Oct 27, 2011 - 7:59am


I agree - 'they' wanted our attention on Europe, while things fell apart off camera in the States. Now the focus will switch back, while Europe further destructs.

Oct 27, 2011 - 8:01am
Oct 27, 2011 - 8:04am

Good morning you hat-tip

Good morning you hat-tip whore!

( Just so you know I went to hit the reply and hit the alert mod by accident)

Morning XTY, Is my slip showing? :)

Oct 27, 2011 - 8:05am

GSR accoring to Gold and Silver predictions

There has been some requests for GSR 2012-2017 based on my long term Gold and Silver price predictions:

Its posted here:


And here (I have added 10 year chart up till today for better perspective):

Oct 27, 2011 - 8:07am

Tesla - simply an awesome movie

Best fight scene, and the rules should apply here:

Video unavailable
RaRaRasputin T
Oct 27, 2011 - 8:10am


As a European you asked for my impression of the 'peaceful' OWS "protests" happening in the USA cities. TBH there isn't much MSM coverage but that is probably due to the fact that the Euro crisis is taking up all the news space available. There was an interview with Michael Moore on the C4 news two nights ago asking his opinion of the OWS protests. I know that Michael Moore isn't everyone's cup of tea but I personally value his contribution so was interested:

Michael Moore UK Television Interview Occupy London

I guess between Europe and the UK Occupy LSX there isn't much room for more coverage of US OWS. Read the Matt Taibbi article on it and agreed very much with his perspective.

Here's what's happening here for those who are interested:

St Paul's Cathedral canon resigns

Giles Fraser quits over plans to forcibly remove Occupy London Stock Exchange protesters from outside cathedral

In a statement to the Guardian, Fraser, who was appointed canon in May 2009, confirmed his resignation, saying: "I resigned because I believe that the chapter has set on a course of action that could mean there will be violence in the name of the church."



Oct 27, 2011 - 8:13am

Is schadenfreude always bad?

I have to say, the euro always looked like a terrible idea from Canadastan - and I was relieved when England kept the pound. I just hope they can shake free without violence - Europe hasn't been a peaceful place for millenia.

Oct 27, 2011 - 8:25am
Oct 27, 2011 - 8:31am

I dunno, the euro had a good run

Historically speaking, since the Roman Empire - none of these unifying initiatives have really succeeded. Charlemagne tried, Napoleon tried, Hitler tried - nothing but fail. I dunno, even the Roman Empire only had the southern portions of europe - all those northern territories never were unified at all. Something about barbarians.

All my euro positions were closed out weeks ago. What I'm trying to figure out, is should I close out my mostly symbolic yen position. I bought some yen with the theory that the yen carry trade would have to unwind sooner or later, and when it did, the yen would go up relentlessly, gubmint intervention or not.

I'm not sure that carry trade has fully unwound yet.

Looks like the 3am LBMA ram job in gold failed. Looks like we're going up again today.

Oct 27, 2011 - 8:33am
Oct 27, 2011 - 8:37am


Awesome GSR chart! I am off to bed, but eagerly await morning to study. Thanks Ivars, you da man!

enkidu T
Oct 27, 2011 - 8:40am

RE: hey europeans

From UK myself but have family who moved to France. Things on the ground you ask? Here is most sheeple don't even realise what's going on, they all have such belief the government wont allow anything bad to happen. The news has been covered here in UK for a lot of items, inflation, EU, QE etc but it would seem nobody understands and would rather watch X Factor and put head in sand.

I can tell you what though I can see the prices going up in the shops, clothes, food etc have all become very very expensive in both UK and France. An example of this is Primark which are very cheap clothes suddenly seem to have risen their prices especially on childs clothes. But once again nobody is doing anything apart from the few collecting PM's. I believe the pinch will happen soon when more and more people realise they got to make cutbacks if they have not already done so.

Oct 27, 2011 - 8:41am

Shill - re Jobless claims

But people who are no longer eligible for claims because they have been unemployed for too long don't get counted. The jobless number strikes me as particularly silly MOPE - and it always gets revised anyway. Just pablum for the masses.

Oct 27, 2011 - 8:41am

Michael Moore is a big fat idiot

- that is a take on one of his so-called books. I read an article where, in all seriousness, Moore stated that everyone should get a minimum of $50,000 salary, so no one was poor. That is his level of intelligence.

Oct 27, 2011 - 8:43am

LMAO Xty / Looner

@Xty -I forgot about that scene- Ah-haha !!

@Looner - are you saying your not 100% convinced? Really?? REALLY???

[edit] still laughing - Just can't seem to stop, thanks for putting me in such a good mood today guys

Metal Minded
Oct 27, 2011 - 8:44am

OT- Some humor from Monty Python

I first "met" Biggus Dickus in high school latin class in the mid 60's.


Oct 27, 2011 - 8:45am

Scientific studies conclude GMO feed causes organ disruption

If you're on the American diet you're literally eating this stuff all day...


Oct 27, 2011 - 8:48am

But people who are no longer

But people who are no longer eligible for claims because they have been unemployed for too long don't get counted. The jobless number strikes me as particularly silly MOPE - and it always gets revised anyway. Just pablum for the masses.

Let me put it to a chart for you XTY.

Hope this helped.

Become a gold member and subscribe to Turd's Vault


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 2/11

2/12 12:45 ET GCP speaks
2/13 8:30 ET CPI and three Goon speeches
2/14 8:30 ET Retail Sales (December)
2/14 8:30 ET PPI
2/15 8:30 ET Import Price Index
2/15 9:15 ET Cap. Util. & Ind. Prod.

Key Economic Events Week of 2/4

2/5 8:30 ET Trade Balance
2/5 9:45 ET Service PMIs
2/5 9:00 pm ET Trump SOTU
2/6 8:30 ET Productivity and Unit Labor Costs
2/6 7:00 pm ET CGP speech
2/7 9:30 ET Goon Clarida speech
2/8 10:00 ET Wholesale Inventories

Key Economic Events Week of 1/28

1/29 10:00 ET Consumer Confidence
1/30 8:30 ET Q4 GDP first guess
1/30 2:00 ET FOMC fedlines
1/30 2:30 ET CGP presser
1/31 8:30 ET Personal Inc, Cons. Spending and Core Inflation
1/31 9:45 ET Chicago PMI
2/1 8:30 ET BLSBS
2/1 9:45 ET Markit Manu PMI
2/1 10:00 ET ISM Manu Index
2/1 10:00 ET Construction Spending

Recent Comments

by Dr Jerome, 17 sec ago
by RickshawETF, 15 min 25 sec ago
by NW VIEW, 22 min 7 sec ago
by Dorothy, 46 min 33 sec ago
by Marcus, 1 hour 44 min ago