Fri, Jul 22, 2011 - 10:21pm

 Just two simple charts for you to chew on over the weekend. I'll be unavailable for a couple of days as I'm headed to where the streets have no name. It'll be a sort of homecoming for me in the city of blinding lights, out there in God's country, where the land is often as white as snow. This time of year, however, it should be a couple of beautiful days.

First up, here's a weekly silver. As you can see, the uptrend from 2010 appears to be firmly intact. This chart confirms for me, however, that silver, above 40, will encounter some resistance around 42 to 42.50. It won't be the end of the world but there may be a period of a few weeks where gold will outperform. Ah...silver and gold. What a pair! Two hearts that beat as one!


Gold, on the other hand, looks magnificent...almost like staring at the sun. Gold may often seem to move in mysterious ways but, in fact, it moves with grace. Once you realize that the goal of The Cartel is to manage its ascent, you can begin to see, and rely upon, repeating patterns. The most grand of patterns is evident on the chart below:


The pattern above is not just the real thing, it's even better than the real thing. Note how, since 2009, gold has followed a six-month pattern of, roughly, 20 weeks UP followed by 6 weeks down. It may appear out of control but it is, in fact, the sweetest thing. Gold is now clearly into its next 20 week UP cycle. Following pattern, we should expect a mid-November high, somewhere in the neighborhood of $1800. Not bad.

That's it for now. I must walk on with or without you. I hope you have a great weekend though of course, some days are better than others. This is my exit but I'll be back in three sunrises. TF

About the Author

turd [at] tfmetalsreport [dot] com ()


Jul 23, 2011 - 4:10pm

To The Ron Paul Naysayers

To The Ron Paul Naysayers

Jul 23, 2011 - 4:16pm

@murphy Need you anymore

@murphy Need you anymore reason for a gold backed monetary system?

"The few who understand the system, will either be so interested from it's profits or so dependant on it's favors, that there will be no opposition from that class." — Rothschild Brothers of London, 1863

"Give me control of a nation's money and I care not who makes it's laws" — Mayer Amschel Bauer Rothschild

Jul 23, 2011 - 4:22pm

breaking news from the onion


Labor Dept. Creates 20,000 New Hobbies For Nation's Jobless 07.20.11

WASHINGTON—The federal government announced Monday that 20,000 new hobbies would be made available to the nation's 14 million unemployed people in an effort to keep them occupied with mildly diverting pastimes.

Jul 23, 2011 - 4:50pm

Oh boy quote of the freaking

Oh boy quote of the freaking day.

Jamie Dimon

"I don't think just because someone's underwater they say I don't have to stay there. But they're supposed to pay the mortgage, and we should teach the American people, you're supposed to meet your obligations, not run from them. Because you have a mortgage doesn't mean you should run away as it goes down."

I guess we will have to remember that next time you need a bailout? And trust me anyone that reads this site knows about the off balance sheet derivatives.

Jul 23, 2011 - 4:57pm

Kid D-bag at it again,

Kid D-bag at it again, bashing Sprott.

Eric Sprott Sells Another 1 Million PSLV Shares At A Huge Premium To NAV


A. If Kid D-bag had any balls he would contact Sprott Asset Management himself and ask for his questions to be answered. Sprott gives interviews.

B. The last time Sprott did this he bought more physical silver and miners after he was criticized for selling he publicly stated that. Both stories are verifiable on ZH.

C. Kid D-bag is long SLV and short PSLV. Enough said.

Jul 23, 2011 - 5:12pm

@ Good Doc

I agree 100%, the gist of the article was don't let the bankers create a imitation gold backed currency.

Jul 23, 2011 - 5:16pm

Seeking Turd Attention: Summer Doldrms vs Current Trend

My Warm Turd, In seeking to understand your thoughts... you said maybe a month or so ago we'd likely see 'summer doldrums', and I expected continued side-ways for silver/gold. Yet today we see the amazing gold graph, clearly showing machine-like EE control, which I both realize does not ensure future movements, but yet also certainly seems a high-confidence estimation of the future.

Today I am simply trying to reconcile the two subjects and want your feedback. Is this a chart bringing something new to your strategy? Confirming what you new already? How do you reconcile the graph with your 'summer doldrums' opinion?

Flushingly Yours,


Jul 23, 2011 - 5:55pm

Asian Market Uh Oh...

You think they are worried? Seems that way, but it's part of the planned and controlled default and crash (they hope).

Sunday night and Monday morning are going to be one to remember. I can't even imagine what the rest of the week and going forward might be like from a market perspective.

Did anyone else notice the photo of Obama, Boehner and Reid taken today for the photo-op?

Boehner raising a Tea Cup when he knew the photo was being taken is pretty symbolic.


By kgibson[at]marketwatch[dot]com (Kate Gibson), sgoldstein[at]marketwatch[dot]com (Steve Goldstein) and grobb[at]marketwatch[dot]com (Greg Robb), MarketWatch

NEW YORK (MarketWatch) — House Speaker John Boehner wants to unveil a plan to increase the U.S. debt limit and curb federal spending by Sunday afternoon to avoid any potential havoc in Asian financial markets, media reports said.

The Ohio Republican told GOP colleagues in a conference call Saturday afternoon that he still wants to cut as much as $4 trillion from the budget during the next decade, according to participants in the call, the reports said.

The afternoon call between Boehner and his fellow House Republicans came after crisis talks convened by President Barack Obama to avert a potential default in just 10 days ended Saturday after just under an hour.

The brief meeting with Obama came a day after negotiations to reach a broader deficit-cutting deal fell apart.

Later in the day, Senate Republican Leader Mitch McConnell (R., Ky.) said congressional leaders were dedicated to the task of keeping a default from happening.

“The president wanted to know that there was a plan for preventing national default,” McConnell said in a statement. “The bipartisan leadership in Congress is committed to working on new legislation that will prevent default while substantially reducing Washington spending,” McConnell added.

Boehner also said during his conference call he wanted to avoid using a proposal from McConnell that would give Obama the authority to hike the debt ceiling, subject to congressional disapproval, GOP sources told Politico.

The Republican leader conceded in the call that he might not be able to get details of a plan to all members by the time he wants to make an announcement on Sunday, but cautioned colleagues their leverage in negotiations could be in jeopardy if something isn’t done by Aug. 2, the Politico report said.

Like McConnell, Boehner also issued a statement Saturday afternoon, saying, “Over this weekend Congress will forge a responsible path forward. House and Senate leaders will be working to find a bipartisan solution to significantly reduce Washington spending and preserve the full faith and credit of the United States.”

The White House, in a statement of its own, said Obama repeated his stance against a short-term extension of the debt limit, saying it would endanger the still-fragile economic recovery.

“It would be irresponsible to put our country and economy at risk again in just a few short months with another battle over raising the debt ceiling,” the White House statement said.

At the White House Saturday, Obama sat next to Boehner, according to pool footage, after the two men Friday night gave separate accounts over how talks to cut spending and hike the $14.3 trillion debt ceiling broke down. The body language from the video taken at the outset of the meeting showed the strains, with the two men barely looking at each other.

Jul 23, 2011 - 6:06pm
Jul 23, 2011 - 6:08pm

@DPH Got a link or want to

@DPH Got a link or want to post that photo? Interesting.

Just remember folks the only reason they want to get this done before Aug. 2nd is so they can go on recess. D-bags!

Jul 23, 2011 - 6:11pm

@DPH Yep. A bunch of ass

@DPH Yep. A bunch of ass clowns. Obama looks like the Metamucil may have kicked in during the meeting! surprise

Jul 23, 2011 - 6:18pm

@DPH You know I wonder if

@DPH You know I wonder if they don't want to roil the markets on Monday? Maybe this political theater can just clear the path for QEIII that much quicker. I don't know man what do you think? Knock out the markets on Monday. Get things back on track by Wednesday? I don't know.

I'm just a political junkie this weekend waiting on any news about this or Europe.

Popcorn ready for tomorrow night!

Jul 23, 2011 - 6:31pm

Contest - NO HAT

How many U2 song titles in this post?

Jul 23, 2011 - 6:41pm


7 wild guess...fave number

Jul 23, 2011 - 6:48pm



MisesFan TF
Jul 23, 2011 - 6:56pm

I found 12...

You in Minny this weekend?

..ot, any miners located in Red Hill?


Jul 23, 2011 - 7:00pm

Peter Schiff interview from KWN

Thought this was interesting...Schiff says he's opening a bank in the Caribbean where customers can store their gold. Then he will issue them a gold-backed Mastercard that they can use against the value of their personal gold holdings in his bank. Not available for U.S. citizens though. He says this would be the first of it's kind in the world, but many will follow after he does it. 


Prize Fighter
Jul 23, 2011 - 7:10pm

21 U2 songs

21 U2 songs

  1. Ultraviolet
  2. Where the Streets Have No Name
  3. A Sort of Homecoming
  4. City of Blinding Lights
  5. In God's Country
  6. White As Snow
  7. Beautiful Day
  8. End Of The World
  9. Silver and Gold
  10. Two Hearts Beat As One
  11. Staring At The Sun
  12. Mysterious Ways
  13. Grace
  14. Even Better Than The Real Thing
  15. Out Of Control
  16. The Sweetest Thing
  17. Walk On
  18. With or Without You
  19. Some Days Are Better Than Others
  20. Exit
  21. Three Sunrises

edited: overlooked Grace earlier. sneaky.

Jul 23, 2011 - 7:13pm

Yeah it is 20. Missed a

Yeah it is 20. Missed a stupid one word song that I should have got. Damn.

Make that 21 and two one word songs I missed. *rolls eyes*

Jul 23, 2011 - 7:13pm

No Sunday bloody Sunday, hmmm

No Sunday bloody Sunday, hmmm ok maybe 15 songs ?Ok i edit its 22 lol

Jul 23, 2011 - 7:20pm

Sunday Bloody Sunday

What tomorrow nights nickname might be.

TF is saving Sunday Bloody Sunday for tomorrow evening, right TF?

Jul 23, 2011 - 7:23pm

It's worrisome either way you

It's worrisome either way you look at it. Maybe they are trying to gently (not!) steer the Govt. into a strategic default or they are so divided and self centered that they are just unable and inept when it comes to our most important decisions.

I do think the market uproar is unavoidable at this point. I don't think they will come to any quick deal before tomorrow. And even if they did somehow come to a quick half ass deal what the hell kind of way is that to conduct any important business let alone the potential default of your own country.

If they're that screwed up that they just can't do what is necessary then were really screwed. If they are doing this on purpose and it's part of the QE3 plan then were still screwed, but it's a semi-controlled screw job. Glad we have our physical PM's for just this reason.

I agree with you on this part of it...I'm expecting something to be rolled out into the MSM about Europe tomorrow morning to take the edge off of the US situation. Good cop, bad cop situation we've been bouncing back and forth from regarding the POSX and the Euro lately. We are constantly playing off of each other on the news of the other one's worse condition relative to ours. Its worked so far.

I kind of expect both markets and currencies to soon plunge and take a beating at the same time. Sooner or later the music stops and theres no chair (market stomach) for either.

Prize Fighter
Jul 23, 2011 - 7:26pm

Well, I've missed another

Well, I've missed another one. 22 songs now. Just spotted #22 Bad. I should flog myself for missing that one. I give up.

Goofy Prize Fighter
Jul 23, 2011 - 7:27pm

Prize Fighter You forgot One

from Achtung Baby

Prize Fighter
Jul 23, 2011 - 7:30pm

Goofy, are you thinking One? 

Goofy, are you thinking One? I guess that could count twice.

Jul 23, 2011 - 7:32pm

@DPH you know I was thinking

@DPH you know I was thinking about derivatives and the Maiden Lane assets on the Federal Reserves balance sheet. There were some assets IIRC that were geared toward maturing if defaults in Illinois, New York and Florida occurred. It was in an article by ZH when it was announced that these assets were on the balance sheet and what they were. I was astounded.

What if there were derivatives or the Maiden Lane assets that were created to pay out based on the default of the US government? I mean think about that shit! The TBTFs already created those assets based on the states failing. Who's to say the TBTFs wouldn't do that to the US Govt. too. And then knowingly increasing their risk because they know their asses would be bailed out if something happened!!!!! They win both ways. First they get their bailout, then they win upon the default of the US. Hell and maybe win again on another bailout. Is this possible? What if it is tied to the debt ceiling?

Not only that but the assets on the Federal Reserves balance sheet that could mature on a default. Isn't it in the best interest of the Federal Reserve (or maybe conflict of interest is the better statement) to let the states fail? How do they unwind this shit otherwise?

What do you folks think? Something just doesn't smell right about this debt stuff.

Jul 23, 2011 - 7:33pm

@Prize Fighter so 23 then

@Prize Fighter so 23 then with Bad and One? My God the Turd is a cruel man.

Prize Fighter
Jul 23, 2011 - 7:40pm

I count 22, but you could

I count 22, but you could count "one" from "two hearts beat as one" as the 23rd. That's all I've found. So Cruel smiley

Jul 23, 2011 - 7:41pm

Hehe, Yeah Bad and then and

Hehe, Yeah Bad and then and we got 40 from War

Jul 23, 2011 - 7:41pm

@DPH Yep on Turd saving SBS

@DPH Yep on Turd saving SBS for tomorrow. Kudos and a hat tip to U2! cheeky

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