Weekly Charts

Fri, Jul 29, 2011 - 11:49pm

Presented without further comment. Turd tired. Turd need break. Regardless, Turd can't wait for Sunday 6:00.






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turd [at] tfmetalsreport [dot] com ()


Jul 31, 2011 - 6:08pm

Indices open up big and

Indices open up big and metals open down big....

Shorts on indices = just got stop lossed

Longs on gold/silver = just got stop lossed


Carry on now... this will be gone by the morning most likely, and up up and away... 1608 is staunch support.

Jul 31, 2011 - 6:10pm


Looks like Blythe recived her package over the weekend.

Good for her.

Jul 31, 2011 - 6:10pm


The gold standard did exist and was COMPLETELY manipulated and would be completely manipulated again. DO YOU KNOW WHO OWNS THE GOLD? Then you only have to look at history for your answers. Gold is a store of wealth. This system of money is hundreds/thousands of years old with the same banksters in control. You fight over your ideology while they CONTROL you.......and YOUR MONEY AND always will. You are very predictable. and TOM is correct

Jul 31, 2011 - 6:13pm

Hello Waterfalls

So nice to see you again.

Titus Andronicus
Jul 31, 2011 - 6:15pm

Pretty wild Globex open

Now go and change your armor! (But don't take too long).

We could end lower, or this could be bought back up in short order. Who knows?

I'm still long.

Jul 31, 2011 - 6:15pm
Eric Original
Jul 31, 2011 - 6:22pm

Wow, somebody got Irene's dander up!

I'm not going to pretend to be expert on everything. And I'm not going to just slap my true feelings out there, because OK it's true I'd rather just be best pals with everybody. But I know Irene from way back on the blog and I know she's got enough on her plate right now. She's got more important things to do than argue economics on blogs on a Sunday afternoon.

I don't have to review a bunch of economic theory to say "You Go Girl!!"

Jul 31, 2011 - 6:25pm

"Only the Austrians consider

"Only the Austrians consider 100% Reserve Banking as the solution to our current monetary nightmare. It would be horribly deflationary wrt the current environment."

I will refrain from insults because right now someone might blame it again on the market not going my way :), but that is just not true, and bordering on brainwashed mainstream thinking.

It would not be deflationary, it would simply break almost all, if not all banks. And that is good, because they're criminals, they contribute nothing or almost nothing to society, and just like removing cancer, the therapy will weaken you temporarly, but long term you'll be better off (or dead just the same, but at least you fought).

- Markus

Jul 31, 2011 - 6:26pm

However it is a gold standard

However it is a gold standard which Ron Paul is calling for again.

So as I said, you are getting a false alternative

As was pointed out by the poster above, we have done this before, it's always going to be manipulated

If it's on some kind of price discovery new vehicle, then it stands to reason the supply will massively fluctuate which will cause precisely the very inflation and deflation which no economy wants.

There is no need for a currency to be backed by anything, that is the biggest scam. What there does need to be is a framework so that money supply is kept at a constant level, adjusted for population of course.

Gold is for the kings, the kings being the banksters.

Jul 31, 2011 - 6:33pm


check out freegold concept FOFOA - this is what I believe. https://fofoa.blogspot.com/

You may need a lot of time

Easier version: https://forafistfulofdollars.blogspot.com/2010/07/freegold-1-introduction.html

there are some others. FOFOA is an observer, not a converter, so I will do the same and leave you to your own conclusions.

Jul 31, 2011 - 6:36pm


anyone notice it has jumped to over $4.50 now?

Jul 31, 2011 - 6:38pm

Gentleman, you have come

Gentleman, you have come sixty days too late. The depression is over."

Herbert Hoover, responding to a delegation requesting a public works program to help speed the recovery, June 1930

Jul 31, 2011 - 6:40pm

John Trudell ?

A rambling idiot ! We all know hard times are a comin' ! A broken clock is right twice a day but doesn't have the power of reason.....neither does this idiot ? Monedas 2011 I didn't know they let Charlie Manson out ? surprise

Jul 31, 2011 - 6:42pm

Thanks Irene

I'll go check that piece out now. I love spaghetti anyway.

Jul 31, 2011 - 6:44pm

Eric de Real Original!

I was just taking a couple of breaks this afternoon (yes, I know it's Sunday, but there is no rest for the wicked) and lo! I got myself into an ar-gu-ment on those poor Austrians.

God, Eric, I confess. I did it because I just gotta laugh and let off some steam. On top of everything else, last week we got ___________. I will not fill in the blank. Just another catastrophe - this one also costing us $big money. My husband and I want to kill ourselves.

My new mantra: "There is a silver lining here somewhere. Keep looking." 

Next time there's a sale of HAM at Walgreen's, you must let us know. I'm counting on you Eric!

P.S. Seriously, I've been reading through your forum posts late at night and they are really, really good and unbelievably helpful to all of us. Thank you for spending all that time to benefit us all. And a huge "Well done!" is definitely in order. You are a real expert, so none of that modesty mister. (No expert, my foot!)

Jul 31, 2011 - 6:48pm

America runs on Debt.

America runs on Debt.

The global markets should respond negatively regardless of what happens - when you have to borrow money just to pay the interest on borrowed money, you're done.

Eric Original
Jul 31, 2011 - 6:56pm


I don't know what's going on with you and yours. I just wish you the best. You refer to money in that last post. I just hope and pray that's all it is. I read between the lines over the months and I worry about other things like basic health issues, your Mom, et al. Money will always take care of itself but the other stuff is super tough to deal with. Just know, I'm always pulling for you.

Richard Booze
Jul 31, 2011 - 7:02pm
Jul 31, 2011 - 7:05pm

Sorry Monedas, but it's not that simple

I really wish it was. Steam venting at Pisgah volcano in southern CA has already been confirmed. 2 women shot some video earlier today, check it out. We can expect more of this venting as well as video of it. dutchsinse has millions of switched on viewers acting as eyes in the Field.


Tom L stoneeh
Jul 31, 2011 - 7:08pm


It would too be deflationary, credit money, fiduciary media, is collapsing. Look at the numbers, that's what has Bernanke spooked, he thinks (and given his monetary regime, rightly so) that contracting or even flat credit growth means an unraveling of their monetary system. That system must grow credit to be functional. And, as Mises said a long time ago, it will continue until such point as the pool of savings has been exhausted and the capital applied to too many unsustainable endeavors. At such point, credit will be worthless b/c no one will be willing to lend no matter what the price of money (interest rates). Prices of those things that are financed by debt are dropping like stones. This is deflationary.

We're at that point now. I agree it would bust the banks but it would also cause the money supply figures to drop along with prices. This would be excellent for everyone except the banks, which is why they argue day and night for it to not happen.

We need deflation. Capitalism is inherently price deflationary. 


Tom L daveyboy
Jul 31, 2011 - 7:13pm


Ron Paul has explicitly called for what I talked about earlier. Repeal of Legal Tender Laws and competition between the Fed's money and any other money the market would bring to bear. 

The Austrian school of economics is mostly anarchic, btw. Most of us who identify ourselves that way are also anarcho-capitalists or whatever equivalent term du jour. So, yes, if you believe in government run money, or at least that it is inevitable, then any gold standard created by these banks will be flawed. It will also be 1000x better than what we have now.

Until such time as the link between gold and the money is broken again. If you want to break this cycle, privately minted money is the only solution.

Seriously, people, Bitcoins are very cool in theory for breaking this cycle.


Jul 31, 2011 - 7:14pm


Thanks! Your outlook on life - like my mom's - is always the best medicine. Now I gotta get back to work. We're under the gun until Friday and then - bless my soul - we're going on a week's vacation!

Would someone who is smarter than me copy the dilbert comic featured at instapundit here. Everyone deserves to see this. https://dilbert.com/ Thanks!

Tom L Irene
Jul 31, 2011 - 7:16pm


Yes, Gold is not money. Precision in all things language. :)

Of course, I would prefer it to be otherwise, but it's not. Unfortunately, I don't miss anything, b/c this is the only monetary system I've ever known. I was 3 and 1/2 when Nixon closed the gold window.


Jul 31, 2011 - 7:18pm

What right does anyone have

What right does anyone have to issue money at interest?

You can't do away with fractional reserve and yet retain that.

Jul 31, 2011 - 7:21pm

What would Clinton say?

Gold is not money? Guess it just depends on what the meaning of "is" is. 


Jul 31, 2011 - 7:23pm

what do you think about....

Hey all--

several here mentioned maybe starting a forum for recipes with ham...

what do you all think if we started a thread or forum (whatever) that had recipes that we could print out that used MREs, "canned ham", ramen noodles, things that we have been canning, meat that we have cured, etc. to create easy meal ideas using what we may have if SHTF... meals that could be stretched using certain ingredients, or maybe meals that our grandparents used during depression times that would stretch to accomodate a family using small amounts of ingredients, etc.?? Thoughts? Could people come up with ONE recipe each that we could add to this thread that could be accessible for all later if the need arises and inflation hits and people are hurting? WHAT DO YOU THINK?

Jul 31, 2011 - 7:23pm

Dem.'s may not support debt bill

Market Pulse Archives

July 31, 2011, 6:55 p.m. EDT

Pelosi: House Democrats may not support debt deal

WASHINGTON (MarketWatch) - House Democrats may not support the budget deal that appears close in the Senate, according to Rep. Nancy Pelosi, the House Minority Leader said Sunday evening. "We all may not be able to support it or none of us may be able to support it," Pelosi told reporters at a brief press conference. Pelosi said she had not decided whether she would support the measure. Pelosi said she will meet with her caucus on Monday "to see how they wish to proceed." The progressive wing of the House Democrats has already sharply criticized the two-step debt-ceiling plan that would set up a trigger to slash spending if Congress cannot agree on a plan.

Jul 31, 2011 - 7:23pm

The government should print

The government should print the money. it's issuance at zero interest, interest means debt, competition with the federal reserve means private organisation issuing money as debt

Congress already has this power, when or if they ever stop being bitches, they should use it

All nations need to follow suit

Tom L daveyboy
Jul 31, 2011 - 7:25pm

There is no need for a

There is no need for a currency to be backed by anything, that is the biggest scam. What there does need to be is a framework so that money supply is kept at a constant level, adjusted for population of course.

This is downright ignorant. The most important concept one can take away from Mises and Hayek is that human beings knowledge of the world is imperfect. That imperfection means that no person knows what should be money or how much money there should be. 

Bill Still's fascination with the quantity of money is moronic and facile.

The money supply will rise and fall with the demand for money as money obeys the same law of supply and demand as any other commodity. If you argue against that you are, in Gary North's words, a Monetary Crank. Just like Milton Friedman.

What is the difference between a set rate of monetary expansion that is known and a constant money supply that rises with population? 

Answer: None.

This is not about gold vs. silver vs. land vs. cowrie shells. This is about choice. Individuals make choices based on their knowledge in the moment. Prices are the information about what a particular thing is valued by that person at the time of the exchange and nothing more. Therefore they should determine what they should exchange value for value for and by doing so make a market for the fruits of their labor. Banking should be free from government interference.

Money isn't some mystical thing. It's just the most liquid commodity. It also happens to be the most important so, therefore, anyone with ambitions to power will want to control it. Decentralize the money supply and you decentralize the power.


Jul 31, 2011 - 7:32pm

It's not downright ignorant

It's not downright ignorant in the slightest, at least that way there is an understood mechanism, at least that way you are not dependent on whatever it is you are backing it with. You will of course have demand and supply, but much of the price consideration comes from the constant fluctuations, the credit expansion, then the contraction. Right now you have a massive contraction mixed in with a mass introduction of credit which the banks have stolen.

Short term, get that fucking money back!

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