Keeping The Faith

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A special day requires a special podcast.

I know it's counter-intuitive but days like today are affirmation that you are doing the right thing by acquiring and holding physical precious metal. The world's latest attempt at creating prosperity through money-printing and debt ended in 2008. We are now in its death throes.

Only those with personal storage of physical precious metal will be spared from the coming disaster. Please don't give up now.


p.s. This may finally be the beginning of The End. Maybe it's not. As I've stated before, the main thing I've learned in the past 2.5 years is to never underestimate the power of The Powers That Be to put off the inevitable. However, anyone who reads Jim Sinclair's site can clearly tell that he is quite concerned that The End is nigh. He's practically pleading with CIGAs to come to one of his presentations/meetings and he's begging people to Get Out of The System (GOTS) before it's too late. To that end, Jim asked me if I would help him to promote his next three CIGA meetings. Of course I'm happy to oblige. I just wish that I was able to attend one of them but I can't make any of three. However, you should do everything in your power to make it to one. Every previous session has been met with rave reviews and I'm sure that each of these next three will be equally valuable.

The sessions will be in Chicago on July 8, Vancouver on July 10 and Scottsdale on July 12. You can read all about them and sign up here:


The Watchman's picture

GLD Continues to be DRAINED-4.2 Tonnes Gone



Value US$41,348,020,663.61

Turd Ferguson's picture

Thanks, Watchman


Just wait till tomorrow...surprise

tyberious's picture



tyberious's picture

Interest rates have risen 50%

"And herein lies the problem.  The world runs on credit for everything, everywhere.  If credit slows or God forbid seizes up, everything stops.  Everything as in your employer’s ability to pay you or your grocery store to stock their shelves.  I know this may (shouldn’t) come as a surprise but the food in your grocery store actually comes from farms, ranches and processing plants.  The shelves do seem to “magically” re-stock themselves, but this happens at night while you are sleeping, AND it happens BECAUSE credit is available to move product.  If credit becomes unavailable then so will products and goods.  Please understand this and never forget it."

"To wrap this up I will tell you that when all is said and done, the banking system INCLUDING Central banks and sovereign treasuries themselves will need to recapitalize themselves.  There is only one way to do it.  The price of gold must be marked up to multiples of the current price to make these entities viable again.  We are close to this happening.  I can say that “we are close, very close” because you can see the carry trade beginning to unwind right before your very eyes and the margin calls will only increase from here."

tyberious's picture



SilverTree's picture

The weeeeee-f*k slide


thesandbox's picture

I'll take silver today

I'll take silver today none to be had here as that went quick.

zman's picture

Dow/Gold ratio up to new

Dow/Gold ratio up to new recent high today despite the stock market plunge, today the ratio hit 11.5.

Looks like the ratio is up a solid  +100% since Sept. of 2011.  Stocks have doubled in value relative to real money in less than 2 years.

I am sticking with my prediction of a final top in the ratio at around 14.  Or Dow 17,500 -Gold 1250, or Dow 12,000 -Gold -850, or where ever the numbers finish.

My guess this might be the last counter trend rally in the super cycle which begin in 1999, how much longer the counter trend rally lasts is anyones guess, maybe another year or two.

ancientmoney's picture

GSR at 65:1 now . . .

Given this ratio, you would think silver is a comparative unloved orphan.  Since gold is not money, we are told, then silver is much more important to modern living than gold due to its industrial and medicinal uses.

And, the ratio of all silver ever mined to all gold ever mined is about 9:1 with much more silver disappeared into the landfills than gold.

Silver is the canary in the goldmine.  When the paper shackles are off, my guess is we'll see a GSR of 15:1 or less.

luv2stak's picture

10th? Times Like THESE...

are why it is so wonderful to have somewhere to come to where other people share your pain!

Thank you, Turd.


BTW, loved that The weeeeee-f*k slide   photo.  

So 'On Topic'!  

Plus, gotta toughen-up our young-uns!

Lanikai's picture

BTFD, any which way..

and we celebrated today with a credit card offer for 0% transfer, postposing the bill and buying $10k of Ag.  A year to pay it back. 

Bollocks's picture

@SilverLeaf - from the previous thread...

"I got into my zen state"

"smokin' hot girl"

"filling my order"

"intermediate bottoms"

"up and down"

"gave me her contact information"

"asked me to stay in touch"

"made it clear that she meant it"

LOOK, just go back in there and plonk it on the counter.


ag1969's picture


Because of the math.

Are you really going to let basic arithmetic get in the way of a perfectly effective propaganda campaign?  Sheesh!

Turd Ferguson's picture

Regarding the CoT


This is the best analogy I can give you.

The public panics and sells at the bottom out of fear.

The Cartel Banks (Mr. Potter) are buying what the public is panic selling. In the end, those that sell at "50¢ on the dollar" get screwed and The Banks win. Don't they always?


foscotanner's picture


I do not like BTFD. This is no dip. It has lasted too long and is a wee bit more than a dip.

So I am using BTFC. The C stands for Canyon.


Smiddywesson's picture

bad dog

Trading gold and silver is like working around two junkyard dogs:  No sudden movements or they will bite you in your private parts.

Investing and stacking is like having a loveable old shepherd as your pet.  Sure, he may bite you from time to time, but he won't maul you,  and he always shows he's sorry later.

Bad dog today, bad dog!

Wallace Hartley's picture

Gold Margin Hike of 25%

Right on cue...CME hikes margin requirements.  Just hike it to 100% already and let's get this shit-storm started.  The sooner we begin, the sooner it'll be over with.

ag1969's picture

So Turd said several times in the podcast......

That this is a special day.  I now find myself wondering if he used "special" in this sense of special:

Howard Roark's picture

Good podcast Turd

It´s a reality check, with humour!

Great stuff!

And goes well in the midst of a great challenge to our convictions. Do the EE run out of napalm?

Time to be brave.

And my sympathy to all with solvency issues.


Lady Gaugau's picture


I .... wait, no ...  I mean my long lost cousin from Timbuktu, needs some advice.

Let's say that he is selling his home that he has no hope of owning outright in the next five years, in the pricey state of California. (Yes, a displaced Timbuktuian.) He will come out of the deal with $400,000 cash.

He will be moving to another state where that kind of money will actually buy something. His goal and that of his uh, wife ... is to pay all cash for a house with some amount of land. It could be 12 to 18 months between the sale and purchase. 

If you were he ... where would you park $400,000 fiat? The choices are 1) Convert it to Ag and Au and hold on tight 2) US fiat in a safe at the bottom of a lake 3) US$ in multiple credit unions or 4) .... fill in the blank.

This uh ... cousin of mine, is a long time member of this site and while not the sharpest knife in the drawer, has a fairly decent knowledge of what's going on. While he has listened to Santa's advice to buy bullion to store in a vault in Singapore, at this moment that would not be a workable option. Neither would the vault in Switzerland. He does need to buy another house. Somewhere.

He's a fun kind of guy, willing to take reasonable risks and certainly not afraid of phyzz. And now that he's reading this (over my shoulder of course), he kinda' sees that all options carry more than a little risk. However, he is so bent on being completely free of all debt, he's willing to shoulder as much risk as necessary to make the move.

Thank you for any thoughts you might want to share. With him.

Lady G

Exbroker's picture


I'm not to sure I agree with you. If they can take your pension....they can take your metals. All they have to do is declare any holders of Silver and Gold , enemy combatants.

Game over. Things are FUBAR.  You can not reason with these zombies.

foggyroad's picture

Awesome Pod * Truth well Told *

Enjoy that frosty, I will toast across Cyberspace!!

Nigel Black's picture

CME Hikes Gold Margins By 25%

CME Hikes Gold Margins By 25%

Tyler Durden's picture

How very unexpected. And how, judging by today's massive selloff, it is almost as if someone knew in advance this would happen. Can JPMorgan just restock its vault with whatever gold it needs to meet its massive delivery demands (at three year low prices) so some normalcy can return to the market?


J.P. Cubish's picture

Best Podcast EVER

I feel like I know you a lot better now.  I really like you site.  Nuff Said.

Bugzy's picture

Margin hike 25%

This is a joke right?

So, physical Gold is that hard to find that they need to stop folk standing for delivery by hammering price - How very very interesting!

And maybe JPM has now got out of its short position in Silver? hmmmmm

turdpond's picture

Finally Something Entertaining from the MSM

for what it is worth:

JY896's picture

The machine is eating itself... God help us all

In a post from a week or so ago, I speculated (building on Jon Rappaport's theorizing) that the surveillance juggernaut built out by the government-MIC conglomerate could use this mechanism to make itself completely autonomous and independently funded by using the captured data to do inside trading. SEtting up shell companies, networks of offshore accounts, dummy holding corporations are part and parcel of their work anyway.

Well, it seems we were not that far off -- via George Washington's Blog/zerohead @ZH/Sibel Edmonds'

NSA Whistleblower: NSA Spying On – and Blackmailing – Top Government Officials and Military Officers

Tice: Okay. They went after–and I know this because I had my hands literally on the paperwork for these sort of things–they went after high-ranking military officers; they went after members of Congress, both Senate and the House, especially on the intelligence committees and on the armed services committees and some of the–and judicial. But they went after other ones, too. They went after lawyers and law firms. All kinds of–heaps of lawyers and law firms. They went after judges. One of the judges is now sitting on the Supreme Court that I had his wiretap information in my hand. Two are former FISA court judges. They went after State Department officials. They went after people in the executive service that were part of the White House–their own people. They went after antiwar groups. They went after U.S. international–U.S. companies that that do international business, you know, business around the world. They went after U.S. banking firms and financial firms that do international business. They went after NGOs that–like the Red Cross, people like that that go overseas and do humanitarian work. They went after a few antiwar civil rights groups. So, you know, don’t tell me that there’s no abuse, because I’ve had this stuff in my hand and looked at it. And in some cases, I literally was involved in the technology that was going after this stuff. And you know, when I said to [former MSNBC show host Keith] Olbermann, I said, my particular thing is high tech and you know, what’s going on is the other thing, which is the dragnet. The dragnet is what Mark Klein is talking about, the terrestrial dragnet. Well my specialty is outer space. I deal with satellites, and everything that goes in and out of space. I did my spying via space. So that’s how I found out about this.

Collins: Now Russ, the targeting of the people that you just mentioned, top military leaders, members of Congress, intelligence community leaders and the–oh, I’m sorry, it was intelligence committees, let me correct that–not intelligence community, and then executive branch appointees. This creates the basis, and the potential for massive blackmail.

Tice: Absolutely! And remember we talked about that before, that I was worried that the intelligence community now has sway over what is going on. Now here’s the big one. I haven’t given you any names. This was is summer of 2004. One of the papers that I held in my hand was to wiretap a bunch of numbers associated with, with a 40-something-year-old wannabe senator from Illinois. You wouldn’t happen to know where that guy lives right now, would you? It’s a big white house in Washington, DC. That’s who they went after. And that’s the president of the United States now.

Judge Napolitano on Snowden:

"One of the spies who knew the power he and his fellow spies had and who had access to the innermost thoughts of hundreds of millions of us – and who disbelieved the president – was Edward Snowden. Snowden realized the unconstitutional nature of what the government was doing and concluded that he could not be faithful to both of his oaths. One of those oaths – to retain secrets – is grounded in a federal statute that requires secrecy and punishes the exposure of secrets. The other oath is grounded in the Constitution, which is the supreme law of the land and protects the natural right to be left alone and does not punish the governmental violation of that right.

When confronted with the conflicting oaths, Snowden opted for the higher good: fidelity to the supreme law of the land." h/t Shell Game @ZH

Hello darkness my old friend...

ag4me's picture

When I first broke free

from the world as we know it by being educated by sites like this, silver was in the $19's.  I find it ironic that as we return to this number I have become more convinced than ever that this is the course to financial protection.  40 more oz on the way......

ReachWest's picture

Riding into Town ...

Back in Turdville after a lengthy hiatus. Wow - Sure picked a fun day to return. I'm still accumulating - still staying the course - still watching the wacky, crazy "control" imposed by the Fed and their minion buddies with absolute awe. My-oh-my this Fed action is assuredly not going to end well.

Thanks for the clarity and rock-solid consistency, Turd!! Fantastic podcast!! Long - Strong - OUNCES!!

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