TFMR Podcast #11 - Jeff Nielson of BullionBullsCanada

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Back on Thursday, I had the distinct pleasure of visiting with Jeff Nielson of BullionBullsCanada.

I first discovered Jeff on the Seeking Alpha website about three years ago. He had written and published some of the first, substantial missives I'd found on the silver market and bullion bank manipulation. Though written some time ago, these articles still ring true today and are some of the best-written summaries of silver manipulation you are going to find.

https://www.bullionbullscanada.com/index.php?option=com_content&view=article&id=12786:fifty-years-of-suppressing-silver&catid=49:silver-commentary&Itemid=130

https://www.bullionbullscanada.com/index.php?option=com_content&view=article&id=528:silver-market-fundamentals-distorted-by-bullion-etfs&catid=49:silver-commentary&Itemid=130

https://www.bullionbullscanada.com/index.php?option=com_content&view=article&id=11299:the-silver-price-spiral-part-i-today&catid=49:silver-commentary&Itemid=130

https://www.bullionbullscanada.com/index.php?option=com_content&view=article&id=2887:your-etf-silver-is-for-sale&catid=49:silver-commentary&Itemid=130

As you listen to the podcast, you'll hear Jeff and I cover a wide range of subjects. We spend a bit of time discussing this chart:

And toward the end, Jeff references the author Charles Savoie and his book "The Silver Stealers". Here's a link to an interview that Jeff conducted with Mr. Savoie back in November of last year:

https://www.bullionbullscanada.com/index.php?option=com_content&view=article&id=22976:interview-with-charles-savoie&catid=49:silver-commentary&Itemid=130

OK, that should be everything you need to follow along with the podcast. I hope you enjoy it. TF

  106 Comments

Planters
Jan 20, 2012 - 10:36pm

Digitty

Nice and Informative as ever Turd !!

Lets Talk QE3

So much NOISE going on around there regarding QE3 it i shard to deceminate what is credible and what is not, here is what I have compiled so far as interesting items to watch and what to expect from an Overt QE round 3

Indicators

- Euro coming in at or below .137

-10yr and 30 yr note levels

-Actions from the Cartel to limit exposures to gold and silver shorts

-Market Loss

FED Actions

Mortgage back securities - third stimulus effort may be more focused toward the housing market and buying mortgage-backed securities.

A Bloomberg news survey conducted in November found 16 of the 21 primary dealers of U.S. government securities said Fed Chairman Ben Bernanke and his fellow policy makers would start another purchasing program during the first half of 2012. The dealers’ estimated that the Fed may buy about $545 billion in home-loan debt.

So the real question to me is: How does buying Mortgage backed securities / home-loan debt effect PM's ? Is it merely expanding the balance sheet ? How would this benefit the economy if all it does is lessen the TBTF banks , AGAIN. I doubt anyone will receive a goddamn thing from it...again

Be Prepared
Jan 20, 2012 - 10:43pm

Another Winner Interview....

Thanks for all your hard work!

murphy
Jan 20, 2012 - 11:39pm

happy to be a turd

happy to be a turd

exiledbear
Jan 21, 2012 - 12:04am

I respect when a man goes bald

That he doesn't do a combover, or a toupee, he goes stark raving bald. You sir, have my respect.

bernard
Jan 21, 2012 - 12:09am

glad to see some

glad to see some Nielson coverage on here, was also fond of his SA articles back in the day. there is no doubt about it that the existence of the ETFs is very much distorting the markets here, because so many of these contracts can be settled in SLV shares, which can be settled in cash... aka... everything is rehypothecated, who knows how many people have claims to the bullion in the vaults these days.

----------------------

https://comparesilverprices.com

bernard
Jan 21, 2012 - 12:36am

Great point about Bart

Great point about Bart Chilton and demonizing the speculators... he is purposely being vague, they never say the shorts...

Bsong
Jan 21, 2012 - 1:23am

Must read Savoie interview!

Must read Savoie interview! Thanks, great info

Strongsidejedi
Jan 21, 2012 - 2:14am

From Santa's Workshop

From JSMINESET.COM

I believe the horned cow on the left is Blythe

The hatted gentlemen is our TF.

Senseosensei
Jan 21, 2012 - 3:59am

Confiscation

I am listening to the podcast and the exchange of ideas about silver confiscation. Jeff states that 75% of the inventory is held privately in ETF's, bullion accounts and mines, and therefor easy to steal by the governments.

Let's assume for a moment that he is right and this will happen. Of course, there is a lot more silver world wide than just in the US or Canada. As a matter of fact, the top 3 silver producing countries are not those 2. What would that mean for the silver market as a whole ? Wouldn't such an event mean that the prices go through the roof, and that it will be virtually impossible in the future for the US to get their hands on any foreign silver, ever again? Any country will want to keep on to their precious metals when they see the US getting desperate about it.....especially China. And when you skip all industrial uses of silver and focus for a moment on one military application, cruise missiles that contain 500 troy ounce for just one missile, they might shoot themselves in the foot big time in the long term. Unless..unless they don't care about the long term consequences....(what that means, is quite frightening).

Another option is that they can make it a world wide confiscation event (it doesn't seem likely to me that this is viable but who am i), or that they will try to buy everyone out of their silver, making those individuals filthy rich in the process.

That, or confiscation is off the table, and the banks will leave the market be, eventually.

Transformer
Jan 21, 2012 - 4:06am

From ZH "Today’s incredible

From ZH

"Today’s incredible move was the culmination of a comment made by UBS analyst Edel Tully. He stated that hedge fund manager Eric Sprott may be in the market buying spot futures, in a private letter to his clients. With declining open interest in a rallying market, it didn’t seem likely to us, but over the last two days we noted open interest has flat-lined and started to turn upward, a bullish indicator."

https://www.zerohedge.com/news/explaining-todays-silver-surge

Do you think this could mean that Sprott is buying spot silver futures, long, and intends to take delivery? If so, this could be the Big Showdown at the OK Corral. If he goes in with the intention of taking delivery, and he buys a sizeable number of contracts, he could be intending to bust the comex.

If there is one entity that could take on the Comex, it is Sprott. and with some huge amount of money that he is going to buy silver with he could certainly do it. He would be doing something very different than the Hunts did, in that he is not speculating, but trying to buy physical, exactly what the Comex is supposed to facilitate. I would imagine that he could buy on the Comex without putting up any money, just a negotiable letter of credit from his bank should be enough to purchase. Then he pays the full price before delivery. The letter of credit may serve even in that capacity, and his bank transfers the money upon delivery.

Now, hows this for a strategy. Sprott goes out and spends 80-90% of his money with mines across the world buying silver at a negotiated price. He completes that deal, contracts signed, etc. Then, he goes into the Comex and starts buying spot contracts, planning to use the remainder of his money to take delivery there. The price begins to run, as other players figure out what he is doing. The appreciation on his signed mine contracts is considerable, 5% today.

I have heard Sprott express considerable vitriol when he speaks of the Comex. If he is doing this, I'm sure it is an incredibly well thought out and planned move, like in a chess game, with all possible moves and counter-moves examined and figured in. Ooooh, I hope that is what's happening, as it will be so fun to watch.

I think that Harvey is reporting silver on hand and available for delivery at the Comex as 30+ million ounces. If you use the 100:1 rule, that would be 300,000 actual ounces on hand and available. That is only 60 contracts. Suppose Sprott bought twice that. How would that fit into his overall purchase numbers?

When everything starts to blow up, I could just see what his statement might be. "We went to the mines and bought all the silver we could, on contract. That silver is beginning to be delivered now. Try as we might, we could not find all the physical silver we needed. We then decided that, since the Comex has 30+ million ounces available for delivery, we would just go in and buy our last 600,000 ounces there. I really don't see where anyone should have a problem with that."

Scheming as always.

Key Economic Events Week of 11/11

11/12 Three Fed Goon speeches
11/13 8:30 ET CPI
11/13 11:00 ET CGP on Capitol Hill
11/14 8:30 ET PPI
11/14 Four Fed Goon speeches
11/14 10:00 ET CGP on Capitol Hill
11/15 8:30 ET Retail Sales
11/15 8:30 ET Empire State Manu Index
11/15 9:15 ET Cap Ute and Ind Prod
11/15 10:00 ET Business Inventories

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Key Economic Events Week of 11/11

11/12 Three Fed Goon speeches
11/13 8:30 ET CPI
11/13 11:00 ET CGP on Capitol Hill
11/14 8:30 ET PPI
11/14 Four Fed Goon speeches
11/14 10:00 ET CGP on Capitol Hill
11/15 8:30 ET Retail Sales
11/15 8:30 ET Empire State Manu Index
11/15 9:15 ET Cap Ute and Ind Prod
11/15 10:00 ET Business Inventories

Key Economic Events Week of 11/4

11/4 10:00 ET Factory Orders
11/5 9:45 ET Markit Services PMI
11/5 10:00 ET ISM Services PMI
11/6 8:30 ET Productivity & Labor Costs
11/6 Speeches by Goons Williams, Harker and Evans
11/8 10:00 ET Consumer Sentiment
11/8 10:00 ET Wholesale Inventories

Key Economic Events Week of 10/28

10/30 8:30 ET Q3 GDP first guess
10/30 2:00 ET FOMC fedlines
10/30 2:30 ET CGP presser
10/31 8:30 ET Personal Income & Spending
10/31 8:30 ET Core Inflation
10/31 9:45 ET Chicago PMI
11/1 8:30 ET BLSBS
11/1 9:45 ET Markit Manu PMI
1/1 10:00 ET ISM Manu PMI

Key Economic Events Week of 10/21

10/22 10:00 ET Existing home sales
10/24 8:30 ET Durable Goods
10/24 9:45 ET Markit flash PMIs
10/24 10:00 ET New home sales
10/25 10:00 ET Consumer Sentiment

Key Economic Events Week of 10/14

10/15 8:30 ET Empire State Fed MI
10/16 8:30 ET Retail Sales
10/16 10:00 ET Business Inventories
10/17 8:30 ET Housing Starts and Bldg Perms
10/17 8:30 ET Philly Fed MI
10/17 9:15 ET Cap Ute and Ind Prod
10/18 10:00 ET LEIII
10/18 Speeches from Goons Kaplan, George and Chlamydia

Key Economic Events Week of 10/7

10/8 8:30 ET Producer Price Index
10/9 10:00 ET Job Openings
10/9 10:00 ET Wholesale Inventories
10/9 2:00 ET September FOMC minutes
10/10 8:30 ET Consumer Price Index
10/11 10:00 ET Consumer Sentiment

Key Economic Events Week of 9/30

9/30 9:45 ET Chicago PMI
10/1 9:45 ET Markit Manu PMI
10/1 10:00 ET ISM Manu PMI
10/1 10:00 ET Construction Spending
10/2 China Golden Week Begins
10/2 8:15 ET ADP jobs report
10/3 9:45 ET Markit Service PMI
10/3 10:00 ET ISM Service PMI
10/3 10:00 ET Factory Orders
10/4 8:30 ET BLSBS
10/4 8:30 ET US Trade Deficit

Key Economic Events Week of 9/23

9/23 9:45 ET Markit flash PMIs
9/24 10:00 ET Consumer Confidence
9/26 8:30 ET Q2 GDP third guess
9/27 8:30 ET Durable Goods
9/27 8:30 ET Pers Inc and Cons Spend
9/27 8:30 ET Core Inflation

Key Economic Events Week of 9/16

9/17 9:15 ET Cap Ute & Ind Prod
9/18 8:30 ET Housing Starts & Bldg Perm.
9/18 2:00 ET Fedlines
9/18 2:30 ET CGP presser
9/19 8:30 ET Philly Fed
9/19 10:00 ET Existing Home Sales

Key Economic Events Week of 9/9

9/10 10:00 ET Job openings
9/11 8:30 ET PPI
9/11 10:00 ET Wholesale Inv.
9/12 8:30 ET CPI
9/13 8:30 ET Retail Sales
9/13 10:00 ET Consumer Sentiment
9/13 10:00 ET Business Inv.

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