Fighting The Criminals

Tue, Jul 19, 2011 - 2:45pm

Let's start with an oldie but a goody. Just a reminder that we've been here several times before:

I hope you were able to check the very important update I posted this morning to the previous blog. If you missed it, here is one of the main points:

"The Evil Empire is trying their hardest to raid today but with copper, crude, stocks and grains all up, they're just not having any success at all. IF everything else can hold onto their gains for another hour or so, the EE will be forced to retreat to another day and the PMS will roll back up toward their overnight highs. Don't get ahead of yourself, however. The Forces of Darkness have accidentally "tipped their hand" this morning with the ineffective raids. This only means they are certain to try again as soon when conditions seem more favorable on their end."

I must admit that I figured they would wait until tomorrow but, of course, conditions are most favorable on The Globex when you have the entire battlefield to yourself. Doesn't matter really. Please understand that this was all coordinated. Obama talks right at 1:30 and the PMs are raided at 1:32, right after the pit closes in New York. This is not coincidence! Trade the PMs long enough and you will learn there are no coincidences. Never forget that these markets are manipulated for a reason.

As stated above, the EE tipped their hand this morning. They didn't anticipate the rallies in copper and crude which made their raids in the early morning futile. So, they just wait around until everyone goes home and they use O'bottom as cover to unload a bunch of metals contracts on the thinly-traded Globex. Same bullshit manipulation, different day.

They've now successfully painted an "Outside Reversal Day" on the daily 24-hour charts, too. This is not as important and significant as having one on the Comex chart but it is certainly a troubling development, nonetheless. From here, we'll need to look for a support level from which a couple of FUBMs can be built.

Silver is back under 39.50 and I have a last of 39.29. It needs to halt the slide here and get back above 39.45...pronto. IF it can, it should be able to rebuild and move back over 40 by later this week. IF not and Blythe is not finished pounding away, it could tumble all the way to 38.25 or so before catching a strong bid.

Gold is much the same. It's taken a beating but it should find stronger and stronger bids the closer it gets to 1580. Only a move down through 1578 and a close below there should give anyone pause to reconsider their longs.

I just want to close by saying "FU to Blythe. FU to JPM. FU to The Bernank. FU to O'bottom. FU to all TPTB". We know your game. You don't frighten us anymore. Your desperation only shows your weakness. You are losing. We are winning. It's only a matter of time.


About the Author

turd [at] tfmetalsreport [dot] com ()


Pale Green Horse
Jul 19, 2011 - 9:40pm

Hat Tips - Eric O

What can you buy, eat or drink with a hat tip. There are people out there who want to steal everything you have, don't worry about hat tips, they have no real value except to an ego. Blow it off, get a good night sleep and take care of your family the best you can because the hat tips from them are priceless. Goodnight my new friend, just found this place today.

Jul 19, 2011 - 9:41pm

HK silver

Probably old news to most here, but this has to be good:

ReachWest Tesla
Jul 19, 2011 - 9:42pm

Oblivious to FUBM Acronym

Have been enjoying Turd's blog for some time - but - I gotta admit some of the acronyms and jargon leave me a bit perplexed. I read in the Turdisms section about a FUBM, but did not understand what it actually stood for.. so I Googled it and the Urban Dictionary had an actual definition and reference to Turd!

I feel better now that I know.

Check out definition number 3 of FUBM

maravich44 Eric Original
Jul 19, 2011 - 9:49pm


Eric Original. Agreed. The Dylan video pushed me to fire up the stereo and Ican not Thank You and Ginger et,all enough for the info on ACV. Your thoughts and insights are invaulable. PS not sure if you are a Jackson Browne fan, but listen to 'The Fuse' Peace Out.

aurum argentum
Jul 19, 2011 - 9:52pm


Seems like a good lawyer would be able to blow a hole through an attempt at confiscation. Reason? The U.S. Government has been selling silver and gold to the public year after year. Then, up to the point where they are selling more, they suddenly stop and now say, give it back? And with no compensation maybe? There surely would be a legal challenge. Maybe entrapment? Anyhow, I can't see it happening. Maybe a high reevaluation then they buy it. Then would there be a point to holding it?... Just thinking out loud.

Jul 19, 2011 - 10:00pm

I am convinced that these

I am convinced that these raids are done for these crooks and assholes to pick up PM's at lower prices in other places and by other methods and even at the Comex.

One must remember their motto is to Privatize the profits and Socialize the losses.

With the Fed's money at their command, the regulators in their pockets and the Admin in cahoots, rigging markets is a piece of cake for a while.

When the financial system finally breaks down these guys have their assets in their personal accounts while the losses belong to the people.

People are finally realising that only Gold & Silver are safe havens. All currencies are in the final analysis doomed . We have highs now in virtually all currencies.

These scum of the earth will attempt to destroy all available data. The world needs whistle blowers really bad to put these crooks away permanently.

Won't someone come forth!

Eric Original
Jul 19, 2011 - 10:00pm

Hat Tip to You Eric for that Tally

Seriously, I did. You deserve it.

You perhaps have failed to see the point of the hat tips. It is not JUST the substantive comments that make this site so special. It is the characters who comment, along with the big, brown, smelly, one, the leader, our Turd, that combine to create a truly insightful, sometimes humorous blog. Cheers to you, mate!

That reminds me, Turd has never, once, responded to me directly. I think he HATES lawyers . . . Oh well, that list is a pretty long one . . .

p.s., my ER/CAD short is 41 pips, and is still trending down way below the 200 day ema; my USD/JPY long is trying to get higher, but I am only up 2.1 pips; my EUR/CHF short is killing me right now, down 251 pips (I can't even see the short entry point on the screen, the chart is so far away . . .). My bet is that the EUR plunges on Thursday when there is no deal on the busted Euro. PM's will probably see a nice bump upwards, too. On Friday, there will a US budget deal announced, so that should bump PM's again, but, WTFDIK?

Maybe the platform lets me get in on some of the futures action of the HKMEX? We will see.

Turdle GG
Jul 19, 2011 - 10:04pm

FUTF - an alternative definition?

An alternative for the FUTF acronymn: Fade You, Turd's Followers.

Used by traders who sell when Turd's followers are giddishly bullish, and buy when they are despondently despising Blythe.

(Not having a go at you Turd, but just the emotions that our community displays dependent on recent price action. I'm also not saying I've followed such a strategy very often, but am trying to keep it in mind for future reference.)

Jul 19, 2011 - 10:04pm

@Rui re: Dodd-Frank Requirements/Mess

@ Rui: Dodd-Frank is FULL of language that has coin/bullion brokers (and I mean good ones) crapping their pants. A lot of what you said is true and worse... the biggest problem my local broker has (and he is REALLY good, no storefront, more like a bunker) is that the parts of the law that are written (and a LOT of it is NOT written yet, just like Obamacare) are so poorly written that the brokers cannot get a good legal opinion on how to operate.

In addition to the personal info, my broker's big concern is the interpretation of the "28 day rule" whereby if they cannot close the transaction with you in 28 days, they are breaking the law. So, if you buy today, and they can't deliver in 28 days, there is a legal problem. Now you could say this only applies to "paper" transactions, but that's not what the language says.

For the record, what I stated above is "messy" but you get the idea and it is a real concern of people I respect... our "laws" are increasing being passed as mere "shells" and the regulation gets filled in later and it is a MESS.

Jul 19, 2011 - 10:07pm

FUBM Mugs, T shirts, Mousepads

ReachWest- That link you provided has another link under the Turd definition called "buy FUBM...". I just had to click on it and apparently they will sell you FUBM stickers, mugs with the Turd Ferguson definition of the acronym (crediting Turd), truckers hats, etc... Basically any and all swag you want.

Now if Turd made some cash for himself or this site from that stuff, I would be SORELY tempted to buy 40$ worth of stickers and go on a guerrilla campaign of putting them all over town and in the places I travel to- but probably he won't see a dime, so I won't pay them to rip-off ideas from my main man. Still, the notion of such a campaign is rather tempting... wouldn't it brighten your day to sit down on a subway or enter a stall at the airport and see a Turd Ferguson FUBM sticker? I think it would ;-)

Jul 19, 2011 - 10:12pm

Tips and shits

You actually cared about the hat-tips brutha?

Here's my tally:

Tips for substantive comments - 1

Tips for describing bowel movements and general comment anality - 1989

That silvertree silverbush fella posts a cool picture after a Turd post and gets a gazillion tips.

Makes loads of sense to me.

Here's hoping to me sliding down that board by posting less.

Posting this ain't the right start. LOL

Jul 19, 2011 - 10:21pm

Just Had to Tip the JoeKa!

Too bad JoeKa, you deserve 'em all! I like you all up on top. It gives me great pleasure to see you up there. We are, after all sort of a deranged bunch. Think of it: we advocate trading in the riskiest markets; we advocate collecting "barbarous relics" which have only value as per "tradition"; we believe that TEOTWAWKI is right around the corner; we swim like salmon upstream spouting disdain for Keynesian doctrine; and our top poster is a green-haired freak!


Jul 19, 2011 - 10:22pm

Soo.. Eric O my buddy my pal.

Soo.. Eric O my buddy my pal. Let me get this straight. On the ONE hand you are making the point that it's the most trivial of posts that seem to garner the abundance of hat tips and that substantive posts don't get comparatively anywhere near the number of hat tips. Have I got that right?

Well, on the OTHER hand then if that's do you explain being a LEADER on the boards?? *raised eyebrow* ..Are you saying that you posted a bunch of non-substantive stuff to get there?? ....Methinks there is a flaw in your logic .....which might be somewhat partially explained by that cocktail. :D ...'Cause if one follows your logic out.. one has to assume that the leaders on the board (Hello ERIC O & JOE KA!) got where they are by posting alot of non-sense ..since by your own admission it gets more hat tips ??? :D :D .........I'm not buyin' it. Folks hat tip you and others based on what they like ...and if they like it it's substantive for THEM!

lol.. just kidding. Enjoy Your Program!

Shout Out to Irene!!! (waving hand smiley inserted here) ..Glad to see you around here and I hope you can post more often as it's always good to see the 'old crew'. .....................You know what I mean. :]

Catching up on comments from the last few days as I've been out alot. people sure can talk alot!!!

Jul 19, 2011 - 10:22pm

TF Merchandise For Sale?

Unless my Haze eyes have deceived me, I thought I momentarily saw TF merchandise in a small window at the bottom of the page.

Where the APMEX or Scottrade one usually flashes at the bottom.

Should this not be a newsflash to me? I haven't seen it elsewhere on the site and only once briefly today.

Fortinbras California Lawyer
Jul 19, 2011 - 10:25pm
Jul 19, 2011 - 10:25pm

Coin Shop...

Yes, I added to the stack a bit today...

No I.D., Cash sale, No Tax.

Small Town shop, guy is just like talking with anyone here on the site. I like doing local business! A return trip is in the works...

Oh and I took my Tin Foil Hat off earlier, But had the Confiscation conversation w/ the Shop owner today. We agreed that in such a scenario, Coin, and Bullion could be more targeted, (as in '33). So maybe holdings of "junk" PMs Jewelry is another avenue? I have some "junk" 14k that i was going to sell/swap for coin... but why? The value of 14k can be figured out easy enough.

Gold is Gold... and I Like it.

Jul 19, 2011 - 10:27pm

If it makes you feel any

If it makes you feel any better CA Lawyer, I was a paralegal in a former life and worked for and with attorneys and judges for years and so I ..... ......Oh.. wait..

....I don't like attorneys either.

(Ok... ....I'm am absolutely KIDDING.. :D ...I hope you know that.. ........Couldn't resist.. .....I enjoy your posts and have learned from them IMMENSELY!!) ;)

Jul 19, 2011 - 10:29pm
Prize Fighter
Jul 19, 2011 - 10:43pm

Speaking of Turd gear for

Speaking of Turd gear for sale, I had a thought which may help pay the bills at TF world. I used to develop basic informational sites on any and everything and slap a few adsense codes on it. I still have about a dozen of these things churnin' and burnin' over the past 7 years. At some point along the way I discovered affiliate programs. Most major ecommerce sites have them. Basically a bird-dog fee in the form of % of sale or flat fee.

So I looked and Apmex has an affiliate program. Didn't see one at Gainesville but didn't look anywhere else. For your consideration...

I know if I decided to buy from Apmex and Turd had an affiliate link, I'd click thru just to throw some love. Be cool if they paid in silver!

Titus Andronicus
Jul 19, 2011 - 10:44pm

New trading comments from James Turk

James Turk has added new trading comments to his site for today.

"Trading Comments, 20 July 2011 (posted 04h00 CET):

My expectation is that this present correction is a one or two-day event. So I believe that now is a good time to add to our trading positions.

The interesting development to watch is whether Asian demand for physical metal picks up under $1,600. I expect it will, and if I am right, then support under $1,600 now being tested will hold."

There is more at:

You might also want to notice that he nailed the start of the move on July 5th after a too-early-false-start on June 30th.

Pale Green Horse
Jul 19, 2011 - 10:46pm

When will you cash in your hat tips?

@JoeKa, When will you cash in your hat tips and what will you spend them on? I have tulip bulbs for sale.

Long John
Jul 19, 2011 - 10:46pm

Fun and Life

paper trading it for fun .....physical is for life !

Turdle GG Titus Andronicus
Jul 19, 2011 - 10:50pm

James Turk, Jim Sinclair, Sprott, KWN, Schiff, etc.

Does anyone remember when any of them said now is not a good time to buy?

Jul 19, 2011 - 10:51pm

Hat Tips and Buying silver with ID

Enjoy your hat tips, think of them as pats on the back for a job well done (not as something to be accumulated). I love this site and the variety of characters it attracts. Also love the chat. Sometimes you just need to vent.

All my silver was purchased under the pseudonym "Mike Hunt" (apologies to the easily offended). I told the LCS guy I was Bunkers long lost nephew.


Jul 19, 2011 - 11:01pm

Re: SLV additions

Well, since they lost almost 2000 tonnes during the last 2 months (which I suppose was cashed out by JPM or another EE member bank and put straight into the physical market to suppress spot prices), allow them to finally add a little when things are going up. The 100 or 150 tonnes they added are not really that much in comparison.

- Markus

Jul 19, 2011 - 11:04pm

What a complete buffoon

Krugman has written volumes of incredibly stupid shit but this blog post is right up there with the worst of it. What a complete, fucking moron this guy is. Utterly amazing.

Jul 19, 2011 - 11:05pm

@Rui re: PM purchase reporting requirements

This is half-truth, and thus misinformation. If you buy over $10K in one day, seller must record transaction/ID. But this has been in place and the norm for a long time.

If you SELL PM over $5K, bullion dealer must ALSO record transaction/ID, am not really sure about smaller amount -- for tax purposes.

I just talked about this with my b. dealer a few days ago -- that is why he has customers coming in day after day, buying $10K at a time -- dollar cost averaging plus avoiding paper trail. I may not have ALL of the details exactly right, but the main thrust is definitely true -- but I am not an accountant or tax lawyer, and can't fully reference all of it right now.

The part about requiring ALL businesses to report ALL purchases over $600 was a wonderful part of the Health Care Reform Act, but has been repealed since. It was to go into effect Jan.1, 2012. Thank God for small favors. The reason was not to protect PM buyers, but it would have completely drowned all businesses (not to mention the IRS) in Himalayas of paper.

"Republicans were able to strip out the 1099 reporting requirement, gaining an Obama signature and a big win for the GOP.

Read more:"

Instructions for form 1099B:​

"Sales of precious metals. A sale of a precious metal (gold, silver, platinum, or palladium) in any form for which the Commodity Futures Trading Commission (CFTC) has not approved trading by regulated futures contract (RFC) is not reportable. Further, even if the sale is of a precious metal in a form for which the CFTC has approved trading, the sale is not reportable if the quantity, by weight or by number of items, is less than the minimum required quantity to satisfy a CFTC-approved RFC. For example, a broker selling a single gold coin does not need to file Form 1099-B even if the coin is of such form and that it could be delivered to satisfy a CFTC-approved RFC, if all CFTC-approved contracts for gold coins currently call for delivery of at least 25 coins. Sales of precious metals for a single customer during a 24-hour period must be aggregated and treated as a single sale to determine if this exception applies. This exception does not apply if the broker knows or has reason to know that a customer, either alone or with a related person, is engaging in sales to avoid information reporting."
Jul 19, 2011 - 11:05pm

Hey Cal

Hey Cal! How are you?

You're too kind buddy...too kind.

Henceforth I shall go full returd and only post nonsense with no redeeming value at all. If my theory holds, I shall be on 3000 hat tips by end Summer.

I challenge you stalkers out there to hat-tip this post 10 times to prove my point.

Go ahead. I dare ya.

@Ginger: you're a doll! don't ever change! It's a pity you don't like Indian food. We could have been good together. Good I tell ya.

Jul 19, 2011 - 11:06pm


No. I can also not remember a single point in time during the 11 years when the fundamentals for the PMs weren't bullish. I can also not identify a point in time from 2000-2010 where you wouldn't be in the green today if you had taken their advice.

- Markus

Jul 19, 2011 - 11:09pm

RE: SLV... according to Harvey O

"...our heroes added a whopping 6.14 million oz of silver today"

Let's all stand and give them a round of applause shall we?


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