A Discussion with David Morgan

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Unfortunately, our weekly webinar was canceled today as my internet completely failed just as we were getting started. However, thanks to the great kindness and patience of our guest, David Morgan, we were still able to record some audio this afternoon.

After a massive storm knocked out power overnight, my internet went completely offline about 10 minutes into today's A2A. It just came back up a few minutes ago and David was gracious enough to offer everyone this 20-minute podcast as an alternative.

Over the course of this call, David and I discuss Comex silver, global silver supplies and how one might continue to add ounces and shares, even though prices have already risen quite sharply in 2016.

Again, my apologies for the lack of A2A today. The series will return next week...hopefully with dependable internet service.



murphy's picture

1st on a no A2A

1st on a no A2A.

Just when David was starting to predict a direction for the silver price, the connection went down.  I'm thinking conspiracy. Or shenanigans.

Mauritius's picture


2nd? :)

Royal Flush's picture



AlienEyes's picture

I blame HAARP

I blame HAARP for the storm at Turd's house.

Swineflogger's picture



47 Protons's picture

6 pence


Turd Ferguson's picture

The link David and I mentioned


Currently a 29¢ premium from west to east.


Verus nemo's picture

What I have always found intriguing about that website

http://didthesystemcollapse.com is that the ratio of the difference between gold (east vs. west) and silver (east vs. west) is about 10:1 suggesting that, so far, the arbitrage opportunity presented is fairly constant and favoring silver within some range more closely resembling a historical Au:Ag ratio. It is this ratio, I think, that will first signal momentous events. But what do I know?

Dirt_Reynolds's picture


Exactly what I have been watching. Two of us know nothing now.

Turd Ferguson's picture

Thanks for the heads up


It's only 10% but no doubt there will be more to come...

From yesterday's post:

Putting it all together...

While it's clear that The Banks on The Comex are desperately feeding new paper contracts to The Specs in an effort to contain/restrain the gold price, at least there has been a coincident rise in the physical collateral backing the paper contracts. In silver, where the situation is equally tenuous, The Banks are issuing new paper contracts without conjuring up any additional physical collateral. The Banks are simply adding additional leverage to an already-teetering system and, in doing so, have extended their potential delivery liability to 120% of total global mine supply. (Actually, if you take out China's 150,000,000 ounces of annual production that's NOT for sale, total global silver production falls to 730,000,000 ounces and the liability rises to 145%!)

In 2011, the Comex price of silver shot higher due, in large part, to physical demand. This run culminated in a $10 move during the month of April that was almost entirely driven by near-panic short covering by The Comex Banks. The CFTC-generated data at the time left zero doubt regarding this conclusion. Only The Sunday Night Massacre of May 1, 2011 and the CME's five margin hikes in the nine days that followed saved The Banks from massive further losses and possible collapse.

Could silver be on the verge of another, similar event? Only time will tell and global physical demand will be the key. However, silver investors would be wise to consider the possibilities and act accordingly, knowing full well the extent of the fraud and scam of the current Comex Paper Derivative Pricing Scheme.

canary's picture

GLD lost 4.15 tonnes today

No change in SLV.

Turd Ferguson's picture

This might be a good sign


The last two significant w/ds came right before big price moves. End of May and mid-April.

chocolatechiphorses's picture

Mike Maloney

5  minutes

Brett828's picture

Jobs report...

It's interesting how almost all expectations in the media suggest a jobs report that gives the impression that while the rest of the world is crumbling, the US somehow has it's act together. It's hard to find a talking head that, while concerned, does not see last month's report as an aberration, opening the door for a report that calms the financial markets. In light of these sentiments, another poor jobs report could be the equivalent to lighting the fuse. Hard to say what we'll hear in the morning, but look out if it's another report like last month! I just find it interesting that few are even entertaining the notion that the US could be in as much trouble as the rest of the world. Our egos don't seem allow for that possibility!

Turd Ferguson's picture

My goodness, these are awful


My goodness, these are awful tragedies. Just sickening. And this latest is surely horrific.

But how can this or any other country ever recover when people actually feel this way?

Full link here: http://www.theroot.com/articles/news/2016/07/girlfriend-of-philando-castile-speaks-out-about-his-fatal-police-encounter-they-are-here-to-kill-us

Turd Ferguson's picture

Posted for all of you who have been following along...

Turd Ferguson's picture

Gold hit for $3, silver hit for 12¢


Gold hit for $3, silver hit for 12¢ precisely at the "Asia open". That's 2 days in a row. Guess we can shelve those ideas of a "surging Asian speculative demand as in iron ore, etc".

tyberious's picture


Just curious, what way does she feel?  That police are not here to protect us, they are not! They are not here to serve us, they are not! They have cart blanche to assassinate, without prejudice! They have been trained by ex Mossad agents, to kill first! Well, we can argue the "black" issue but they have disproportional deadly encounters with dudes with guns and badges, just saying. 

The sooner we all face up to the fact that this country has no rule of law and no one is held accountable, the better. The land of our forefathers is long gone. We are a Fascist Police State, from local law enforcement to federal police to world police aka US Military!

tyberious's picture


David and Craig! Brief but informative interview.

Royal Flush's picture


Wouldn't hurt my feelings if there was one last big manufactured dip in silver. I was waiting for the $800.00 bitcoin to buy a mess of 100oz silver bars that never happened. :(

It would be nice if the stars even came close to lining up so I could buy a bunch more but whatever. Crosses fingers but expects the worse. Ill pull the triger over 700 this time but much fewer bars.

tyberious's picture

The Gold Standard: Friend of

tyberious's picture

Abolish the FBI

tyberious's picture

The Supreme Court’s New

The Supreme Court’s New Attack on the Fourth Amendment

"The Greatest Enemy of the Fourth Amendment is the War on Drugs

To read the decisions of the Court regarding the Fourth Amendment, which prohibits the government from conducting unreasonable searches and seizures, is to read of its slow death, with drug prohibition playing a role almost every step of the way.

Consider, for example, one of the most odious developments in modern American policing: the no-knock SWAT raid. There are, on average, over 100 raids per day and the majority of them are to serve low-level drug warrants. Such a dangerous procedure inevitably has led to a huge number of botched raids, resulting in unnecessary property damage and death. It is a common law principle that officers of the law “knock-and-announce” themselves prior to the search of a dwelling in order to give the occupant time to compose himself and answer the door. The Supreme Court has created exceptions to this principle, such as the possibility that suspects could destroy drug evidence, thus providing a necessary condition to the environment that allows a raid-happy style of policing to exist. In consideration of this, it is not hard to imagine how the Strieff decision could lead to widespread pretext stops and ID-checking in order to go on fishing expeditions for evidence."


KeynesianKryptonite's picture

More -- Posted for all of you who have been following along...

Ack! After #BTC goes to $1000 first time, then it drops back to $897 and bounces around a few days. Ag keeps on trucking from $38-> !

clif ‏@clif_high  13m13 minutes ago

tyberious's picture

Putin Explains To Reporters

Putin Explains To Reporters The West Is Pushing For A Nuclear War - Episode 1016b

ReachWest's picture

Sister Christian

I do believe that Sister Christian is the most sour fellow I have ever had occasion to watch on television. His wife (if he has one) deserves a medal for the torture she must endure.

And at the 5:15 mark he says that First Majestic Silver tends to attract a lot of those "Silver Conspiracy people" .. is he referring to Turdites? Hmm.

Here is the link, if you can stomach it. http://www.bnn.ca/Video/player.aspx?vid=905469#

PS: Really enjoyed your discussion with David Morgan, Turd. 

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