Profanity-Laced Tirade

Thu, Nov 17, 2011 - 11:01am

Oh, how I would like to launch into one. What we have seen recently, and what we are currently witnessing, is the most blatant and disgusting manipulation of the metals I've seen. That it is allowed to stand without question by the CFTC, the SEC and the media sickens me to the point of nausea.

However, for the sake of our none-Fbomb-loving readers and in the spirit of inclusiveness, I will do my best to avoid lacing this post with the profanity it deserves. Let's instead just simply lay it out chronologically:

(Before we start, full disclosure: I do not currently have any positions. Heck, I don't even currently have a broker. I do not have an ax to grind regarding trading losses. I'm simply disgusted by the ongoing corruption.)

1) In the wake of the S&P downgrade of U.S. credit, gold rallies from 1650 to 1920 over a period of six weeks, primarily on the back of Cartel short-covering. New longs also enter the gold market as gold and the Swissie are viewed as the only "safe havens".

2) This absence of sellers panics The Cartel. They petition their friends at the CME to raise margins.

3) Gold trades back to 1750 but then rebounds almost as quickly.

4) The rallying Swissie frightens the Swiss and unbalances the currency trade in Europe.

5) The Swiss decide to devalue their currency by 10% by pegging it to the euro. Knowing this will cause a steep rally in the only remaining "safe haven", a dastardly plan is put into place.

6) The Swiss announce their plan in the overnight (U.S.) following a U.S. bank and government holiday.

7) Five minutes before the announcement is made, the Swiss National Bank sells a massive quantity of paper gold, causing gold to drop over $50.

8) This has the desired, counter-intuitive effect of suppressing what should have been a massive gold rally on the back of the Swissie devaluation.

9) This also "saves" The Cartel from a runaway gold price that would have likely smashed through $2000.

10) The Cartel springs into action, forces the downward momentum, gets some additional margin hikes out of the CME and down goes gold, falling from 1923 to 1525 in 15 trading days. Over the same time period, JPM puts the wood to silver, taking it from 44 to 26.

11) All the while, the world geopolitical and economic landscape continues to deteriorate.

a) U.S. economy in toilet. U.S. government total debt reaches $15T. Blah, blah, blah.

b) Europe in crisis. Dexia, Greece, Italy, France. Blah, blah, blah.

c) The Middle East on the brink of war. New IAEA report shows Iran close to nuke. Blah, blah, blah.

d) Chavez repatriates 100 tonnes and other central banks are massive net buyers of gold. Blah, blah, blah.

e) Rioting, protest and insurrection is seen around the globe. Blah, blah, blah.

f) Blah, blah, blah.

12) Gold and silver rebound. Gold back to 1800 and silver back to 35.

13) MFing Global blows itself up, effectively removing, seizing and/or freezing thousands of futures traders accounts. This destroys confidence in paper markets and removes potential buyers.

14) MFing Global assets seized and stolen by JPM to be liquidated and confiscated for their own use.

15) As we approach the December option expiry, JPM and other Cartel members begin to actively sell and suppress gold and silver. Despite increasingly strong fundamentals, the PMs are pressed lower, perhaps to the point of collapse.

Will they collapse? That is the question, now isn't it. It certainly looks like they might.

I'm on record as looking for a November high in gold between 1780 and 1840. I split the difference and called it 1810. The high, so far is 1805. That may be as close as we get. With all of the uncertainty today...crude over $100, the impending failure of the "super committee", the future of the euro, just to name is down another $30. It is obvious that there is currently a deliberate and intentional manipulative event taking place. Where it stops, nobody knows.

Could paper gold and silver go lower from here? Heck yes they can! The evil C/C/C has:

1) Raised margins to nearly untenable levels.

2) Destroyed trader confidence and trust by closing MF and stealing clients asstes.

This leaves us with way, way more sellers than buyers and.....down she goes, regardless of the fundamentals.

So, what do you do. You definitely DO NOT trade on the LBMA or the Comex. These disgustingly-manipulated playgrounds of The Cartel will continue to be entirely manipulated against regular investors. They will continue in this manner until they finally collapse from the weight of their sins. WHEN they collapse, the value of physical gold and silver will skyrocket. Therefore, take this time to continue to add physical metal. Speed the demise of The Cartel by using their suppression against them. Take delivery. Add to your stack. Hold your metal in your own two hands. Only by physical possession can you be certain that you truly own it. Only by physical possession will we ever be able to crush the evil, soulless banking cartel. And I want to crush them so fucking badly that I can hardly see straight.


(at least I made it all the way to the end before unleashing the Fbomb)

p.s. All that said, I know many of you are looking for charts, nonetheless. So, here you go.


About the Author

turd [at] tfmetalsreport [dot] com ()


Bugzy · Nov 17, 2011 - 1:22pm

5 year gold chart

The trend on the 5 year looks about right. Silver however looks very odd - not natural at all.

cpnscarlet · Nov 17, 2011 - 1:23pm


Couldn't wait any longer, bought about 25k in PSLV and CEF a little while ago. Will go and look at prices on GC to see if it's time for more phyz. I still have some dry powder. Will save it for 1680/30 if it comes.

ReachWest · Nov 17, 2011 - 1:24pm

Hunkering Down

I think this is going to get a bunch worse in the after-market today. We shall see.

yabs · Nov 17, 2011 - 1:25pm

Turd can you tell me if

Turd can you tell me if Bullion vault is safe ie is it as good as physical in your hand

I thjought it is is physical but who k nows

cpnscarlet · Nov 17, 2011 - 1:26pm

Just a moment...Just a moment...

Dow's now down ~145 and the dollar is in the red. That's a little weird for the type of day we're having.

ReachWest · Nov 17, 2011 - 1:27pm


Nothing - I repeat - nothing is as safe as Bullion in your own possession.

Be Prepared · Nov 17, 2011 - 1:31pm

Amen, Brother Turd

You said it clearly and concisely...... I think you should put back the moniker "The end of the Great Keynesian Experiment is upon us. Prepare accordingly." We forget all too clearly that it's not about making money and taking that money to buy the next SUV. We don't live in the world we used to folks.....remember that.....nothing should surprise you. The markets are AGAINST you and will be against you because the underlying system has been and will continue to morph into hell knows what. I wish this wasn't so, but it is and to think that anything will be FAIR and REASONABLE is just setting yourself for disappointment.

This is the time where clear heads will prevail.....make your PLAN and work it every day. Remember that the TPTB don't want you to succeed....they want you to fail......they want you dependent on them, they want you blind and dumb, and they want you to become a true slave. Violence isn't the answer, but an understanding that this game and making your stand by being prepared is the way to go... :-}

Throwing Sliver Hammers · Nov 17, 2011 - 1:32pm


"Never interrupt your enemy when he is making a mistake."
Economical Disaster · Nov 17, 2011 - 1:32pm

Why the world's central banks

Why the world's central banks are gobbling up gold

Michael Babad | Columnist profile | mbabad[at]globeandmail[dot]com (E-mail)
Globe and Mail Update
Published Thursday, Nov. 17, 2011 12:05PM EST
Last updated Thursday, Nov. 17, 2011 12:15PM EST

Follow Michael Babad and Globe top business news on Twitter

Central banks buy gold
The world's central banks are loading up on gold (GC-FT1,718.70-55.60-3.13%) as they diversify their holdings.

Gold (GC-FT) 1,715.50 -58.80 -3.31% As of Nov 17, 2011 1:04

A report released today by the World Gold Council showed central banks acquiring almost 150 tonnes in the third quarter, marking the heftiest purchases in decades.

"Activity among central banks continued to fulfill our expectations of further purchases in [the third quarter]," the group said.

"In fact, net buying accelerated notably during the quarter - totalling 148.4 tonnes - as the issues surrounding the creditworthiness of western governments' debt seeped into the official sector. A number of banks continued their well-publicized programs of buying, while a slew of new entrants emerged wishing to bolster their gold holdings in order to diversify their reserves. We see this trend continuing into 2012."

Central banks are looking for alternatives to the euro and the U.S. dollar in their reserves, according to senior currency strategist Camilla Sutton of Scotia Capital, and the trend has been into bullion over the past six to nine months.

Throwing Sliver Hammers · Nov 17, 2011 - 1:32pm


"Never interrupt your enemy when he is making a mistake."
yabs · Nov 17, 2011 - 1:32pm

reach west not sure if it

reach west

not sure if it is

did you not hear of the guy who had all his stash stolen

I do not own a safe

DayStar · Nov 17, 2011 - 1:33pm

Is Bullion Storage Safe

yabs, you asked if Bullion vault is safe as good as physical in your hand. I think MF Global just answered this question, and the answer is "no". When you have a counterparty, you have counterparty risk. What if TPTB decided Bullion Vault was "in arrears" on taxes, or the govt froze financial transactions? Also, if there is a massive breakdown in society otherwise known as the SHTF, how are you going to get your metal if there is no gas or electricity? As the stackers say, if you don't hold it, you don't own it.


T · Nov 17, 2011 - 1:34pm

Lots of good posts

I was going to add my two cents to the mix, but most everyone said the things I was going to say.

I'll recap what stuck in my mind.

The game IS just about impossible to play on a daily trading basis.... (but looking at long term charts is less crazymaking)

which means being very very Patient, and waiting for the longer swings in wave structure Ranting Andy's forecast (same as mine) for gold 1575 and silver 28. Thats why I look forward to 'buying the dip' at silver 32/30/28...a little at a time. and gold at 1680/1640/1600/1570/1540 select miners also.....SLW at 29 , EGO at 14 , SVM at 7.50/7.20 is a ballpark guess.

I was anticipating gold and silver hitting those targets around next February or the spring low...but not just yet.

Looking at the S+P in the last week and a half , since the november 1st low...... Volume, if it still means anything , has gotten progressively Lower, and especially low today. If we have seen a breakout to the Low side in the last few days....and folks are anticipating the 'big wave 3 crashing down'....the volume is Not there today. Which suggests to me that any downwave right now might just be a shorter term pullback to test maybe 1200 area(1200-1185) and whipsaw back up from there. IF this plays out, it would suggest my wave count structure is correct...which is that we are in an Uptrending wave 5 and we are experiencing the subwave2 pullback....and would suggest a big wave UP from 1190 support to blast thru 1300....and continue along with subwave 4 and then subwave 5 to complete the wave 5 with a target around 1330-1370 top retest. and the timing would correlate with end of 2011. After that could be a big sell off in January.

The other charts I see posted here, I disagree with .... The idea that we have been in an ongoing wave 4 , now turning into wave 5.... DOWN is Inconclusive. The Wave structure I just described may also be what is happening. Either one is possible, but BOTH need to be seen and anticipated with targets. What I see they currently have in common is price action currently going down to test the 1200 area. (1180-1200)(S+P)

Chart analysis can become blurred by alot of math and when you get a dozen people doing it , all with different vision of the math, ....heads start spinning. so I dont want to make it more convoluted.

All I want to say here is that The Time to Buy was in July......2009

The time to buy was in July of 2009 !!!! Other folks, long timers would say it even worse....They'd say the time to buy was in 2001.

All the experts,like Sprott,Embry, are bullish on the metals and miners.... instinct says ...dont sell now....Hold on, hang on.

If we see a retest of the October 4 lows,look at select miners charts, and buy a little more, maybe....

Never buy the breakout tops...thats how you get screwed..... Fade into the lows. Like SVM around 8 or 7.70,but save some cash to buy more at 7.

That is if youre buying miners at all. The metals have to be mined.... and the miners are swimming in profits. the good companies producing are successful and solid. Find the Lowest targets and then find the next one even Lower. and Wait for it.

If it doesnt retest the october 4 lows, Wait until spring Lows . Wait until next summer ! if you have to.

Pablo diegeiro · Nov 17, 2011 - 1:35pm

Re: Lear Capital

I personally have had nothing but good experiences with them. But then again, I know what I want and I ordered bullion only - online order. The first time I ordered, I got a call a couple days later from one of their sales guys trying to sell me numismatics and I just told them no thanks and they have never bugged me again.

Online ordering is so much easier than calling in anyway, and the price is cheaper online than calling too. You just add the stuff to the cart, put in the coupon, check out, print the confirmation page with the order # and either put that and a check in the mail or go wire them the money. A couple days later you get an email that they got the payment, then another email I think like 10 days later when the check cleared, then a fedex overnight shows up with your stuff. 

(The disclaimer they make you sign is if you buy collectible coins, or graded coins, and polish them up, their buy-back guarantee doesn't apply (because you ruined the coin). But I don't deal with any of that collectible stuff so I never had to sign anything ever.) 

For what it's worth I found them when looking for good prices on Sovreigns, Eric O turned me onto those little gems and LC had the best prices at the time. 

Stratajema yabs · Nov 17, 2011 - 1:35pm

Re: Bullion Vault and Gold Money

Just to mention... you must never forget that your USD cash deposit in their client funds bank account is not insured. Foreign currency deposits are not insured. So if the banks go under and you have not invested in PMs, then you risk losing your cash holdings MF Global style.

Dr Durden · Nov 17, 2011 - 1:36pm


I call bull trap until ES 1200 is gone and VIX is over 40. 

Just another way to drive the 30 year under 3.0%.

PPT lives (for the moment).

Pablo · Nov 17, 2011 - 1:39pm

Right before the holidays

I wonder if the EE gets some kind of perverse delight about really sticking it to the common people right before the holidays.

Dr Durden · Nov 17, 2011 - 1:40pm

Oh, look all the bottom callers are back

Surprise surprise.

If you think gold goes under $1600 for more than 9 seconds, you're high on PCP.


York Rite · Nov 17, 2011 - 1:42pm

Are we being played?

And if so, who's in the orchestra?

Gold closed at $1741.90 on October 27.

November 16 - 'Gold is getting ready for a trip into the $2000s.'

November 14 - 'I see gold headed into the $2000, but only as another steep on its way to Alf’s number.'

November 13 - 'Gold is headed to the $2000s and that is for starters.'

November 7 - 'Gold is now headed, with violence, into the $2000s.'

November 3 - 'Gold is headed now into the $2000s with extreme violence.'

November 2 - 'Gold is headed into the $2000s.'

November 1 - 'Gold is headed into the $2000s.'

October 27 - 'QE to infinity in the western financial world is assured. As a result, gold in the $2000s is coming soon.'

survivalwstyle · Nov 17, 2011 - 1:42pm

$1140 now if buy it by the kilo

dang~~ i can only get HUGE pics to load. this coin is swEEt. i lost one not long ago

Captain Silver · Nov 17, 2011 - 1:44pm
tpbeta · Nov 17, 2011 - 1:49pm

Liquidity event

The graph suggests that in a big liquidity event, $24-$25 is the likely destination. I think that's what the Turd is warning of. If that event is not today, it's certainly on the horizon somewhere.

Chicken Little · Nov 17, 2011 - 1:49pm

Sorry Captain

I was typing while you were posting!

Regards, Chicken

cpnscarlet · Nov 17, 2011 - 1:51pm

@York Rite - Not that I would

@York Rite - Not that I would dismiss anything, but it would take some hard evidence for me to put Santa into the EE camp. He's been right too often and only makes long-term predictions. With the fiat condition of the world, how can he be wrong in the long-term unless the world and all its bankers become rapidly sane? Same goes for Embry, Butler, and Turk (despite his lousy short-term calls).

Stormdancer · Nov 17, 2011 - 1:53pm

I wonder why

We always get several posters who wait for a raid to show up with a healthy dose of self-righteous schadenfreude. Two down...where's Stoneeh? A couple left I reckon....wait for it.


You'll never ever be half of what those men you try so hard to tear down already are Yorkie....not even if you could cut them down to quarter size. Which you can't.

I Wazere · Nov 17, 2011 - 1:55pm

quoting uncle Stewie

"I can’t see any benefit to you in buying gold on anything but a $100 price sale, or more. Look at a $100 move now, as you looked at a $10 move a few years ago. I understand that leveraged traders have a hard time letting go of the idea that a $100 price swing is “big”, but it has to be done.


If you can’t view a $100 swing in the gold price as a blip, you should immediately adjust your trading size, until a $100 move is something that makes you yawn."

Eric Original · Nov 17, 2011 - 1:56pm

Ferd, re: the miners

I think you are on to something. GDX bottomed on Oct 4. Since that time, thru just moments ago, I show GDX up 10.4%, Dow up 8.5%, Gold up 5.4%, and silver up 5.0%.

I'm not really sweating todays action at all. Maybe I'm just stooopid...

Senseosensei · Nov 17, 2011 - 1:56pm


Silver - 50 euro/kg, gold fairly steady..large silver buying bids (more than 100 kg).

Looks pretty stable to me on the bullion side.

AlienEyes · Nov 17, 2011 - 1:56pm

Good and Bad Language

There is no real need to use the "F bomb" with the exception of adding some color to your written thoughts. For instance : "The unwashed, maternally incestuous, illegitimate rodents are having sexual relations with the PM markets again." Translation : "The filthy, motherfu*king, bastard-rats are fu*king with the PM markets again." Hell, the "clean" one sounds worse than the "dirty" one. Well, never mind. wink

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