Saturday, March 5, 2011

The Wicked Witch Is Melting

Turd was left home alone tonight so he took the opportunity to produce a new "movie".
Pay close attention to the Wicked Witch's plans for next week.
Enjoy with an adult beverage. TF

http://www.youtube.com/watch?v=Et02g9OQ-LM

115 comments:

  1. Oooh..... YAY im the 1st poster!

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  2. ^^ Great vid. Good psychology towards end! keke.

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  3. Notice the copper daily chart for Friday? Looks like someone hedging silver with copper had to selloff their copper to cover their silver shorts. Ha!

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  4. ...and in the non-fiction category, the awards for Best Screenwriter and Best Producer go to Turd Ferguson.

    Doo da Doo da

    Well done!

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  5. Speaking of Socrates:

    http://www.youtube.com/watch?v=2EwaFkPMdlY

    its like dust in the wind, turd.

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  6. I too believe that the Comex futures failure to deliver physical will start the unraveling of the ponzi scheme. I think that the gold and silver time-line will be one of the most important indicators of how far along we are to the end of the great keynesian experiment. Technically, as the Federal Reserve Note goes to 0 (my opinion by the end of 2012), gold and silver will go towards infinity. In reality, they will keep going up until we get a new system.

    Mind you this graph of Gold during German Hyperinflation times:

    http://www.usagold.com/papermarksvsgoldmarks.jpeg

    -
    Hold on tight to your physical until we get a new currency. And if that new currency is the SDR created by the IMF, keep holding till we have a real currency system that allows the public to not be cheated by criminal bankers.
    -
    Ron Paul 2012...
    http://thehardrightedge.com
    -
    Scott J

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  7. @ Scott,

    Why can't COMEX and shorters COVER in advance if they knew they were to go into the shet hole?

    Fiat is infinite right? ;)

    More so, I've seen a lot of silver avail at online dealers. Everyone is spooked about crude and price at the pump, everyone is budgeting. I know I am, because this tune has been played before !

    Thanks

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  8. Love the way she says So--Crates

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  9. Loved the new video! So typical of bankers-they love you, they lie to you, and they turn on you. She was right that TF is greater than Plato and Socrates, though.
    More pedal on the metals!

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  10. I really enjoyed reading the posts on your blog. I would like to invite you to come on over to my blog and check it out. God bless, Lloyd

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  11. Tales from the front:

    I made it into my local coinshop today after a couple of weeks, it is small mom and pop type place.

    They were wiped out of any Silver Bullion they had one Eagle available .

    She did say she had some 10 OZ bars that I had requested a few weeks ago and they were Englehards ..so i took them.

    Now get this "we have too much gold, customers have been trading their Gold for Silver..we dont like to have this much in stock we are going to start wholesaling it"

    "We will sell it to you with no premium ,just at spot!"

    Anyone else hearing similar stories ?

    I need to find some funds to get some of that Gold I think.

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  12. QUALITY!!

    My girls (7 & 11) watch this and the bears with me. They tell the kids at school about Bear Nack and Blythe.

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  13. @Scott. I think the dollar will get pegged to gold before going to zero. It would get pegged at much higher gold prices of course.

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  14. Not a re-post but reiterating a point from a prior thread.

    Why would BM pay a 50% premium, i.e. $50/oz, to settle in cash but not be buying hand over fist at $35+/oz?

    My guess is that she's in cover mode big time and as Dan Norcini astutely points out, the COTs are being fudged.

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  15. Hahaha. So many great quotes in this. Seriously. This is an instant classic. I'm rolling.

    Damn right about thousands of sheep waking up. Sing with me. Damn right. The Death Star. The Death Star. The Death Star's on fire. We don't even care let the mother f'er burn. Burn mother f'er BURN!!!

    The "Turd Ferguson is the shit" part made me shoot beer out of my nose.

    Yukon
    http://yukoncorneliusssilverandgold.blogspot.com

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  16. BANKER-WANKER!

    Love the video!

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  17. Nice video, but man a bit self indulgent lol. Anyway, the backwardation has intensified. I'm not so sure about a dip back to 31 right now personally. Things are getting worse overseas. Soon thousands will stand in Riyadh.

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  18. @Scottj88: "In reality, they will keep going up until we get a new system."

    ...and that's why we go long as a preservation of wealth,right ? :)

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  19. "Mr. Andrea Mitchell"?? LMAO. Best line of the video =)

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  20. Bay of Pigs likes this very much. He thinks Turd is onto something special.

    Timing is everything Bitchez. The Flash Point has arrived. So load the boat with gold and silver. You won't be sorry.

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  21. Yeah, I think so too.

    Load the boat.

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  22. Heh, I like the deathstar analogy. For all the EE's doomsday weapons and shorts, they still possess a small vulnerability in the form of the physical PM's.

    Many Bothans died to give us this information.

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  23. I am saving Turd's vid for when I get home and can properly enjoy with a drink in hand. But for those already thus situated, here's a blast from the past - the first minute or so is the funniest:

    http://www.btvp.net/swgrse.html

    A little crude, but a classic.

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  24. new message from WB, and the saga continues:

    http://messages.finance.yahoo.com/Business_%26_Finance/Investments/Stocks_%28A_to_Z%29/Stocks_J/threadview?bn=10073&tid=388528&mid=388528

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  25. trashcan. When will we see the effects of these 6k shorts? This week? Does this mean this week might be a down week?

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  26. A few interesting links...

    1. Scotia Bank out of most silver (again):
    http://tinyurl.com/4mvfvx9

    2. Google Trends on "How to Buy Silver"
    http://www.google.com/trends?q=How+to+Buy+Silver

    3. Google Trends on "Turd Furgeson"
    http://www.google.com/trends?q=turd+ferguson

    4. The impact of Blythe Masters on Silver Price
    http://www.youtube.com/watch?v=sR28o5f9aKE


    5. March 5th, King World News Metal Wrap-up
    http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2011/3/5_KWN_Weekly_Metals_Wrap.html

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  27. yeah nice but don't fall for the "blame it on progressives" line. more then anything it is the socialism for the rich and the empire military spending of the republicans that has bankrupted the country. the actual "socialist" countries of the europe which have so many benefits for the people who live in them, better transportation, benefits, health care, education, investment in the community etc...are not in nearly as much trouble as we are, because they don't spend 1 million a year for every soldier in afghanistan, development of robot armies, or billions for homeland security, body scanners, banker bailouts and more more more for wall street firms to give even a bigger bonus. loopholes for interntional corporations to avoid tax. but austerity must fall on the working people only. lol. it's the right as much as or maybe even more then the left which has bankrupted this country. otherwise great video.

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  28. how much do you think we spent on the new iraq embassy?

    some say 500-700 MILLION! for an embassy alone!

    there is where the money is going. things like that.

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  29. George, we really aren't here to talk politics. That's for Zero Hedge boards and a thousand other places on the net.

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  30. WB is a trip.

    Drama queens are like that. They want the attention, so they keep coming back after signing off.

    I'd like to believe...but the # standing for delivery tells me otherwise.

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  31. Ok one more link...just thought I'd share my expert Technical Analysis Chart for silver for March & April....

    http://i54.tinypic.com/2h804m8.jpg

    :-D

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  32. @jack

    yeah you are probably right. it would just end in a lot of bickering. better to keep have this blog for what it is so good for: analyzing the trends of the precious metals market.

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  33. I think she's hot. Especially when she says "f**k". And when she says $37 by the end of the week.

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  34. http://harveyorgan.blogspot.com/2011/03/silver-advances-to-3567silver-shorts-in.html?showComment=1299385713097#c7993011204445496705

    http://mobile.reuters.com/article/article/idUSN1611875220110217

    http://mobile.reuters.com/article/article/idUSLDE71G0E020110217

    http://mobile.reuters.com/article/article/idUSN0316158020101103

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  35. Got here via Trader Dan. Good stuff. TD is the best of course. He just put a chart up showing how gold is now the safe haven over bonds.

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  36. Just a couple of points that wil help to point the way,what prices will Gold and Silver go to ? and how much do people consider large enough amounts to tide you through all this ? Seriously I don,t have the answers,looking for some serious thoughts on where the final destination is ? We have all seen the wild theories on this but its now time for some serious thought and input on what lies ahead. Would enjoy seeing your thoughts on these issues Turd.

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  37. Wrote two long posts and both disappeared. Morn'in everyone. This is a test msg to keep from wasting another hour.

    Love the video.

    Seawolf

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  38. Silvercorp (SVM) and New Pacific Metals (NUX)

    Everybody likes "ground floor" opportunities. Why? Because, in the PM "junior" game, you can make a shitload of money! Here's an idea that links to one of Turd's favorite silver stocks.

    The common thread here is management and the business plan. I've been doing "juniors" since 2002 (scars and all) and I'll vouch for the fact that company management is one of the most important factors when considering a "junior".

    So, what's the common thread here? It's Dr. Rui Feng, CEO of both Silvercorp and New Pacific.

    Dr. Feng has a great track record building SVM. In 2006 SVM had a market cap of $14M and six years later, $2B. SVM is sitting on $223.7M cash, no debt, no hedging and pays a small dividend of .02/share. And, (extremely important),SVM's cash cost per ounce of silver is minus (yes minus!) $7.13/oz as of Dec, 2010.

    Check it out: http://www.silvercorpmetals.com/_resources/presentations/2011_02_22_Corporate_Presentation_Silvertip.pdf

    Now NUX. NUX just bought Tagish Lake Gold (TGL). TGL is a Canadian mining operation with a property called Skukum. The Skukum property has a couple of mines and an operational mill.

    NUX is sitting on $45M cash with a goal of bringing Skukum back into production ASAP using Dr. Feng's business model whereby the mine is brought into profitable production early, using the cash flow to prove-up new resources and production growth (read minimum dilution down the road). If you look closely at the presentation in the link, you'll see that Skukum has the potential to be a monster!

    In my opinion, what we have here is a mini-SVM at 2006 maturity. Shares are a little over 2-bucks and have (more than) doubled since last July. But, NUX is just getting started.

    http://www.newpacificmetals.com/presentation/NUX_11-02-28.pd

    I'm as crazy as the rest of you people when it comes to PM's, especially silver. I've done well, but, have made every mistake in the book. I see this SVM/NUX story as one of the most compelling I've run across in the 10-years I've been in this game. Just my two cents, but, worth a look.

    Best to all,

    Seawolf

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  39. I had the most amazing dream last night. I dream that I went to the bank to do my normal coin roll hunting for silver halves and when I got there all the tellers were giving halves out in transactions. I got nervous at first and then I realized that they purposely not giving the Franklin or Walking liberty halves away. When it was my turn I bought all of the silver halves for face value. Wow what a dream!!!

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  40. @Seawolf

    I feel your pain. Been there. Another reader gave me advice on a way to avoid that, but unfortunately I did not save it. I suggest two things: 1. Don't do really long posts and, 2. If you must, either split it into two posts or compose it in Word and do a copy and paste.

    Keep smilin' !

    @Silversurfer

    Loved your chart! Hilarious!! I want to print it and put it on the wall above my desk!

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  41. maybe i'm oversimplifying this but, i have a dumb question. what is preventing jp morgue from asking uncle ben to turn on his magic dollar machine and cover their losses? it's not like they operate within the bounds of the law anyway.

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  42. BIGEYE10

    If I wuz you, I'd grab some of that gold at spot! Like, right now!

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  43. Seawolf

    NUX looks interesting. If you like checking out juniors, and you like the idea of the imminent restart of an existing mine with the mill & permits pretty much ready to go, then check out the following:

    Bralorne Gold - BPM, BPMSF
    Fire River Gold - FAU, FVGCF
    Avino Silver -ASM, ASGMF

    enjoy!

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  44. Last Friday the topic of conspiracy theory came up. Specifically how we each filter information through our individual prism determines what differentiates conspiracy from reality.

    In the same thread, Larry stated he is a fan of the Daily Bell. Well, I am too. The folks at the Bell do a great job of presenting an alternate view of events and the world in a sane, lucent, cogent manner. I thought I would share this article with y'all.

    http://www.thedailybell.com/1827/Anthony-Wile-Why-Even-the-Best-PR-Is-Failing-the-Elites.html

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  45. @eric#1,

    Ahh, you really did get bitten buy the FAU bug didn't you?!

    BTW - the day FAU was mention on this blog some guy came by and dropped a link to his blog dedicated to FAU. He appears to be a one man crusading hate machine against the CEO and the company. firerivergold.blogspot.com

    Also, thank you and everyone else for sharing so freely your knowledge and picks of the juniors and explorers. It is invaluable help to me as I'm not so good at understand and valuing this segment of the miner space.

    Lag in majors and mid tiers drove me here out of necessity to gain leverage over physical. With your help I'm learning how to look at these critters.

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  46. marcel

    Did I get that FAU from you? I don't remember who brought it up, but thanks to whoever it was. yeah, I bought a little. I own more of the Avino and Bralorne though. Bralorne had a news release out Friday about how they have stockpiled a bunch of ore and should start running it through the mill any time now. Avino is currently doing bulk sampling, tweaking the mill to improve recovery. I like those kind of stories.

    The ones where it's more like "Oh yeah, we got a billion ounces here and now we're trying to figure out how to move forward" leave me kind of cold.

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  47. Hahaha... Loved the video Turd! The quote from "The Princess Bride" was perfect! Hahahaha.

    Turd, neverness touched on something I wanted to ask about. Does the rather extreme backwardation that we are seeing blunt Blythes ability to attack?

    Also to those here trading miners. Doesn't the sharp rise in fuel costs hurt miners pretty bad? I thought they operated on really tight budgets, of course I guess that cost may have been more than offset by the even sharper rise in PM's!

    I'm looking to buy into some miners here in the near future myself so a big thank you to everyone sharing your thoughts!

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  48. Yeah, it was me. I brought it up because I took a LARGE position in it a couple of months ago and was having self doubt over my assessment of what their plan was. I was looking for confirmation from more experienced people that I had done a *good* taking a position in this company. The fact that you have also taken a position is affirmation enough for me.

    I must be doing something right though as Bralorne is already on y radar. I have the report of which you speak open in a different window.

    FAU also had a press release this week updating their progress @ Nixon Fork.
    http://finance.yahoo.com/news/Corporate-Update-Nixon-Fork-cnw-894199221.html?x=0&.v=1

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  49. Anyone one on this blog who is caught singing;
    "Ding Dong the witch is dead,
    Which ole witch?
    The wicked witch...."
    will be dealt with severely.
    There, try getting that one out of yur head.

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  50. Mining Investment Research - Focus on the Juniors 2011 (Dundee Capital Markets)

    http://research.dundeesecurities.com/Research/PDAC2011.pdf

    Check page 136...

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  51. Marcel

    I knew about Bralorne from my last go-round with these little miners 10-15 years ago. If memory serves, back then they were talking about the Peter Zone, the Maddy Zone, etc. Plus I think gold was more like $300-$400. Big difference today. $1400 gold, plus I think that BK3 zone they are going to mine has the highest grades yet.

    The real pump and dump types tend to run their course and disappear. Bralorne has been around 20 something years, through thick and thin with basically the same insider ownership. To me that's a really good sign and that's why I own a lot more of it than Fire River, which is people and a situation I don't know from Adam.

    Avino is run by the same people as Bralorne, and I think they've had that company for 40 years.

    Be wary of having a LARGE position in any or these though. Lightning might strike at any time, but not always in a good way. Or they just wither and die. LARGE positions should be in solid producers. On the silver side I would suggest Silver Wheaton, Pan American, Coeur d'Alene, First Majestic, Endeavour, Great Panther, and Impact. On the gold side I have New Gold, Allied Nevada, Gammon Gold, Kirkland Lake, and Argonaut.

    I have various other "special situations" like start ups, explorations, etc. but the ones listed above are the ones that are truly up and running and making money.

    Good Luck, and be careful out there!

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  52. @Scott RE: Foreign banking

    I'm a US expat in Canada. I have no status here beyond being hitched to a CDN citizen. My experience is that the CDN banks don't want the hassles that the US .gov has placed on them for reporting all my financial transactions to Uncle Sam. It's not illegal to open an account in my name, they just don't want to do it.

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  53. gniuz

    Awesome link! It will take a while to digest all that data! It's a bonanza for junior miner fans.

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  54. Eric,

    I should define LARGE. Large # of shares,but abou 2% of my portfolio. PAAS was my first miner back in 2005. Over the years I've also had positions in AUY, SSRI, KGC. . . all of which I cashed out of because they were lagging the physical and or would not come back well after a correction. (I'm more a buy and holder than a trader)

    More recently I've held GBG, ECU, TMM. Currently I hold EXK, FAU and HTM and on the physical side lots Ag and also farmland and farm machinery.

    I plan on rebuilding a miner portfolio on any corrections that may come along. Hopefully during summer doldrums if they come again this year.

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  55. LMAO @Turd living in his parents basement.

    Turd thanks for the miner post. The only thought that isn't bullish is rising oil prices. Wouldn't rising oil make for rising production costs? Will this effect stock prices negatively.

    Just starting to feel like 2008 again to me.

    Have a position waiting to enter so the dip may never happen people. My luck :)

    Now I know where that banker greed comes from. I'm making money and I still feel like I'm missing out. Frigin human greed

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  56. Marcel

    Yes, the really big boyz are in some serious doldrums. I guess folks could debate as to why that is all day long. Aside from SLW, which is a different sort of critter, you'll notice none of mine are more than about $4B market cap, and most are much smaller than that. Seems to be a sweet spot lately where you can get production, growth opportunities, and a decent looking stock chart all in one package.

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  57. @George

    Hey, George. Welcome!

    Aside from it's distractive and distructive effects. another reason I think we don't get into political discussions on this board is that most of already agree that the financial crisis our country finds itself in is not a result of either Republican or Democratic policies, but the result of a half century of Republican AND Democratic policies.

    The things you cited may be good examples of profligate spending, but there are literally thousands more, in virtually every area of the federal budget. And putting aside the debate over whether or not the federal government SHOULD provide social programs such as SS and Medicare, the fact is that we ARE obligated to provide them and they are NOT FUNDED. Everything else pales in comparison to these two unfunded obligations.

    So why are they not funded? Because our brilliant leaders decided it was okay to "borrow" from the trust funds set up to fund them so they could use that money for other "necesary" expenditures and replaced the money taken with US Treasury bonds which were, after all, "as good as gold" ;)

    So, what to do. Well we could (a) Reduce the payouts from these two programs to what we can afford, (b)Come up with some way to fund them or, (c) Default on these promises. Our politicians on both sides of the aisle and both ends of Penn Ave have so far chose option (d)None of the above. Instead they have relied on option (e) Endless monetary inflation by the central bank to pay for everything.

    To paraphrase Albert Einstein: You cannot solve a problem with the same stinkn' thinkin' that created it. So, politics and politicians and bankers be damned. What we need are some leaders with principles and guts, and more than anything, we need voters who will snap out of their denial and habitual thiningcome to grips with the reality we are all facing.

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  58. Sorry, last line: "habitual thinking and come to grips"

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  59. @oldNavy

    <<"we need voters who will snap out of their denial and habitual thinking and come to grips with the reality we are all facing."<<

    And given the american "educational" system the odds of that happening are precisely - no rounding needed - zero.

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  60. oldNavy & George

    I think if TPTB get us equally divided up into factions, where half say "it's all the democrats fault!" and the other half say "it's all the republicans fault!", then I think they've got us right where they want us.

    I think the beauty of this blog is that we can leave the blame game aside and simply agree that there is some serious shit coming down the pike no matter what, and that we are all sincere in our desire to protect our loved ones as best we can. "Prepare Accordingly"

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  61. BE PREPARED!!!

    http://www.youtube.com/watch?v=-nJOY0P84v4&feature=related

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  62. gniuz,
    I'm kind of baffled that report shows GPL with a $2.80 target price and that it is a high-risk stock. Thought maybe the report was old but then realized it was just put out on the 2nd of this month. They really missed that call. I know not everyone can pick every winner exactly, but here in Turd's world we seem to have a better track record than them!

    All the rest of their calls I looked at seem to be reasonably on track, gonna give that report a good look at later. What's up with the stocks listed as "restricted"?

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  63. Justin

    I'm just guessing here, but if they own a bunch themselves, or are market makers in it, or some other sort of conflict of interest, maybe that's "restricted" and they are not supposed to be pushing the stock. That's just a flat out guess though.

    A lot of rules in place now as compared to a while back. They used to be working both sides of the trade all the time, skinning the sheeple but good.

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  64. Justin wrote:
    ...here in Turd's world we seem to have a better track record than them!...

    I'll second that, in general; beginning last September, and prior to discovering this site, I subscribed to about five gold & silver advisories (inexpensive, all less than $100 /year, except Midas Letter, for which I'm testing 'penny stock' picks for just three months @ $49 / month).

    I'll probably not renew any of them.

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  65. Eric#1

    Thanks for the info on BPM, FAU and ASM. It's a big universe out there and hard to keep a handle on all the opportunities.

    Blogs like this can be most helpful, as-long-as we pull together and keep the politics out of the mix. Thanks again.

    oldNavy,

    I too am "old Navy" (emphasis on OLD! :=) My handle "Seawolf" comes from my first squadron flying Huey gunships in Viet Nam supporting Seals and Navy Riverine forces in the Delta. Glad to see there's another "old Navy" person frequenting this excellent blog.

    Best to all . . .

    Seawolf 10 (Numba' Ten)

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  66. Thanks Eric, that sounds pretty logical.

    For you Ucore holders, just found an article from the 4th about them joining the USMMA.

    United States Magnet Materials Association

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  67. SilverSurfer @ 11:12 PM:

    I've used Google Trends before — thanks for the reminder. Interesting that, if you filter for USA only at the how to buy silver page, Utah comes out on top, which is the state closest to a gold & silver as legal tender law (passed house, in senate).

    Incidentally (or not ;-) ), the map at 02:50 of this CNBC video clip lists these states considering similar legislation:
    New Hampshire
    Virginia
    Indiana
    Tennessee
    South Carolina
    Georgia
    Iowa
    Missouri
    Oklahoma
    Colorado
    Montana
    Washington

    [if you go to the video, note: the title is incorrect: Utah hasn't passed this yet)

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  68. A long time ago, in a galaxy far, far away, I used to get a newsletter (which shall remain nameless), and I bought a junior mining stock (which shall remain nameless). The stock had already had a pretty good pop, and seemed to be holding around where I bought it. Huge drilling results were supposed to come out any day now, and really goose the stock.

    The news came out, and to a layman sheeple like me they seemed ok, but the stock didn't pop. It kind of went a little soft, actually. Not a horrible dump, but just blah. Each month that newsletter would come and I would scour it for info on my stock. They talked about it in general terms, but no specific recommendations to sell it, or add more.

    Months went by and the stock got worse and worse, down probably 50%, and still the newsletter had said nothing about bailing out of the stock. I read and reread the newsletters just to be sure. I was holding on.

    Finally, maybe three months later the guru says in his newsletter something like "good thing we bailed out of that sucker". !!!???!!! So I go and read them again, nothing. Then a month or two later he has a mea culpa in the letter saying that his sell recommendation was in the first draft of the letter right after those drill results, but somehow didn't make it into the final version. Oops. Went on to basically blame the victim for not knowing when to sell.

    Suffice it to say, I learned a lot from the experience! Tuition at the School of Hard Knocks, so to speak!

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  69. ...I haven't confirmed it, but I also came across a report that some gas stations in Michigan are accepting silver coins at spot value as payment.

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  70. Seawolf,
    There are a couple vet's who post here regularly, most of us Navy I think. I also was in aviation, but on the maintenance side and worked on all of the electronic goodies on Tomcats and Hornets...lost interest after the Tomcats were retired so I figured it was time for me to move on to bigger and better.

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  71. After watching the roller coaster that are the miners, they look interesting for options trading, but not as much for a long-term hold.

    If I had to pick between buying 100 shares of $buck-stock-miner and 1 ounce of gold, I think I'd still rather just go buy the mined gold and pay the US Mint for their nice stamp of approval on that gold.

    Eric King's interview on the KWN Weekly Metals report was hilarious to me.

    There is a report that part of HSBC's trading position was rotated OUT of gold and into international corporate stocks (WalMart and McDonalds). LOL

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  72. Eric #1 @ 8:59 AM:

    FYI, James West of Midas Letter always posts the strategy and exit at the same time as the recommendation; I've only received one monthly issue so far, but also a couple of email alerts. This seems typical:

    DISCLOSURE: We do not own shares at this time.
    OUR STRATEGY: Accumulate to $0.20, until more drill results, then re-evaluate.
    OUR EXIT: 50% at $0.50, let the rest ride with trailing stop-loss if shares lose 25% or more combined in any 5 trading session in a row, or until the company is purchased by a bigger company.


    I'd like to have a reasonable portfolio of junior miners, in the event this happens again:

    7¢ - $430
    $1.25 - $430
    40¢ - $560
    93¢ - $440
    60¢ - $415
    5¢ - $109

    See page 19 of Thunder Road Report - 24 February 2011.

    [note: link is to a 25-page PDF so it will load slower than a typical web page]

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  73. Justin,

    We live close-by: you in Chesapeake and me on the Northern Neck of VA. I get to Chesapeake often to visit friends, as in every couple of weeks. Also, my daughter and family live in VA Beach.

    We should get together for a beer and compare notes. Not sure how to make the connection. Any ideas?

    By the way, I've visited your blog. Good job! You've (obviously) spent a lot of time putting it together.

    Take care,

    Seawolf

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  74. This comment has been removed by the author.

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  75. ...I meant very junior miners above.

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  76. Gold to $57,000, Silver Even More? Interview of Adrian Douglas of GATA.

    Part 1 Part 2

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  77. @ old Navy,

    Very well said!

    +35.61

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  78. There's another good documentary out on oil. If you've seen and liked Crude Awakening, Blood and Oil, Collapse, etc., you'll probably enjoy this:

    http://topdocumentaryfilms.com/blind-spot/

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  79. Stolen from slv yahoo board titled: 13 sovereign states/colonies returning to gold/silver!!
    ......The coins would not replace the current paper currency but would be used and accepted voluntarily as an alternative.
    ....................................
    You'll have to make an intelligent decision to obtain physical gold/silver as I; long before the Utah legislation!! Twelve other states have offered similar proposals: Georgia, Montana, Missouri, Colorado, Indiana, Iowa, New Hampshire, South Carolina, Tennessee, Washington, Vermont and Oklahoma.Read more: http://www.foxnews.com/politics/2011/03/...
    ................................................
    For those living in those wise legislative sovereign states? The sovereign state will wisely make up your mind for you!! The decision to hold physical gold/silver! By then it will cost you so much more!! So why not buy it now!!

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  80. This comment has been removed by the author.

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  81. Here is a question i'm sure you've all pondered.

    How's this system going to end?

    I'd love to know what you folks think.

    Thanks

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  82. A Turd in a toga as Sock-raat-eez, nice visual.

    For those of you asking about news on Bid Bullion's Silver Keisers, this popped into my inbox earlier:

    "...I am happy to announce the fact that we finally pick up our first shipment of Silver Keisers on Monday from customs... We will be commencing shipping on Tuesday along with publishing Silver Keiser videos. Along with these deliveries will be the Largest Video Contest the web has ever seen and all of you are the first to hear about this. This contest is involving physical silver, the global economy and the Silver Keisers. Quite awesome I must say....we have passed back the rights to the Silver Keiser campaign to the marketing group that we hired to create us a viral marketing campaign which the SK's came from. BidBullion is responsible to get all of the retail orders out over the next 3 weeks as we receive delivery from NWT Mint. Currently all the 1oz and 5oz rounds are going to be sent because that is what is in the first shipment to us with the 1/10th, 1/4 and 1/2 to follow.

    We will be sending requests to everyone for their shipping payment commencing in the morning, as we receive the shipping payments, the SK's will be immediately sent... I don't want to forget to mention that CxM has several marketing campaigns lined up to drive the value of the SK's much higher than that of even the American Eagles and Canadian Maples to really back up your purchases. These guys are truly viral marketing specialists and like all of you, along with Max and Stacey, they want silver to soar! Seeing what these guys have done first hand, I personally believe that what they have coming down the pipeline will truly astonish everyone and make you more than happy for purchasing the SK's....I'm sure, actually pretty positive that you'll be able to Ebay these for PAMP silver prices because of the supply and demand if that is your desire... ...This will also help out by giving the people that missed out on the presale to be able to purchase a piece of silver history that didn't get a chance. There are approx. 52,000 remaining units available now. Those will be posted for sale at the end of this upcoming week... we expect those to sell out at close to the same speed as the initial presales did. We had received over 11,000 emails from interested people that still desire to purchase the SK's and easily over 100 bullion dealers that didn't get the chance to buy and wanted them... I have seen the SK's personally and they are amazing!!! Trust me when I say they were worth the wait....You truly bought a piece of history and will profit greatly from them. We would also like to thank Max, Stacey and everyone on their end for also putting up with us...
    Sincerely,
    Jeremey Hillsdon
    BidBullion.com

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  83. @Justin - hilarious... we began posting on the tapping of the SPR last night and guess what rolls out this morning on the Sunday morning talk shows... LOL
    Those talk shows are filmed earlier in the week and are released by the networks on Sunday morning (that's how they can get the same person on each show at the same time).

    @afrum-
    That decision by the states to accept silver or gold for tax payment is really funny.
    In a hyperinflationary scenario, the USD$ valuation of the bullion moves up aggressively with the hyperinflation.

    Here's some numbers.
    Gold purchase now $1500 per ounce

    If you buy 1 ounce now at $1500.

    Let's say the gold-bulls are right and the fed is printing QE4 in 2012...

    Let's also say that the real estate market has not recovered and U/E is still at 10%+ in that state...

    And, (big assumption) let's say that gold has now hit $10,000 per ounce (I said HYPERINFLATION scenario folks)

    Let's say the guy owns a house bought in 2007 at $500,000 and the mortgage is $450,000.
    County/state prop tax is levelling at $5000 per year and is delinquent for two years ($10K owed).

    Under this scenario, the Utah resident who buys 1 ounce of gold or 40 ounces of silver now, could end up with that 1 ounce of gold worth $10K and/or the 40 ounces of silver worth $500/ounce at $20K.

    So, you can convert the silver to gold and then send the two coins to the state for the entirity of back due taxes (I think this is their play).

    However, what is more funny is that could sell that coin (in this particular scenario) to the open physical market and pay off two years of mortgage payments with two gold coins.

    This

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  84. Justin and all GPL people, did you happen to see my Orko vs. GPL comparison from last night? Well I forgot to add another telling stat: Market Cap p/oz of Ag:

    GPL: 13.74
    OKOFF: 6.35

    Taking it from the top: versus GPL, Orko has twice as much total silver, at an ore grade twice as high, yet has only 1/2 GPL's current MCp/oz value. Eye opener.

    The MCp/oz metric is a very powerful indicator of whether a miner is under or overvalued, whether compared to the industry mean or to its peers to gauge relative value for the money at any given time.

    Is GPL overvalued at this point? I don't know about that, esp. if Ag keeps running. On the other hand, in light of all it's got going (plus a relatively low MCp/oz value), to these eyes, Orko appears to be pretty undervalued relative to GPL, and several others. I think Orko has been flying under most investor's radar, and think that's likely to change in a big way over the next 4 to 8 weeks. I'll be accumulating OKOFF shares on weakness until it pops.

    Ok, just a few more hours left until Asia & the Globex gets cranked up. Being a New York Jets fan, personally I "CAN'T WAIT" for the Au & Ag action this week.

    Good hunting Turdanistas

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  85. gniuz,
    Thank You! Great resource ..much appreciated.

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  86. I cant figure out how to post here!!!!

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  87. Will price be up or down in Asia tonight? Ideas anyone.

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  88. RE: tapping the USA strategic oil reserve

    In just a few words, Zero Hedge illustrates the absurdity of this (over than for declining empire in an era of peak oil government public relations purposes):

    ...What our esteemed politicians fail to realize is that tapping the SPR is analogous to Lehman filing an 8K declaring to the world it is now tapping directly into the Fed's discount window for its liquidity - that didn't end too well.

    The problem with the SPR is that as a non-marginal replacement of supply it is largely a puppet: with a capacity 726.7 million barrels, the SPR holds a 34 day reserve at the US daily consumption of 21 million barrels.

    The picture is slightly better when considering that the US only imports 12 MMbd, meaning there is a 58 day supply. But the biggest issue that nobody is considering, is that the maximum total withdrawal capacity is physically limited to just 4.4 million barrels per day...

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  89. I think Asia will trade up HOWEVER i always keep a close eye on the screen prepared for a reversal.

    The spot price seems to peak between 1130 PM - 2 PM. It falls generally around 3A-5A with a peak around 7-730 A (all times are Eastern)

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  90. I meant The spot price seems to peak between 1130 PM - 2 AM

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  91. Spot is up now from Friday's close

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  92. Some good thoughts on metals miners from over at stockhouse from a fabulous poster called 'mineshack'. Thought it was worth reading here:

    "It is often stated that the mining stocks have lagged behind bullion. None of my favorites have performed like I thought they would by now. In my opinion our sector lost a lot of support in the liquidity crisis of 2008. Occasionally we hear a poster tell of their fortunate timing to buy in at that low. But, we never hear from those that sold during the panic and maybe most have yet to come back.

    While driving today I listened a little to radio host Larry Kudlow as he explained all that the Fed needs to do is an interest rate increase and the dollar would jump 15%. I think he’s correct. He also said that the price of Gold would then drop. I think he was correct there too. These low interest rates is what made paper credit easy and cheap. Raising the price of borrowing would certainly put upward pressure on the dollar’s value. But, Mr. Kudlow failed to tell “the rest of the story”.

    And that is what those charts do. They tell us that the USA government has been spending far more that it receives. They tell us that the budgeted debt can only be relieved by default. They teach that consumer spending is now driven by cheap credit instead of Free market innovation and production. They say that there is little hope for future private sector employment. They tell us that the USA government will continue to spend far more that it receives.

    Hind sight is 20/20 if we care to look back. The liquidity crisis was emergency demand for cash resulting from the sudden discovery of extremely leveraged bad debts. As the institutional investors ran for the exits, margin calls demanded the reserve fiat currency of the world; the dollar. The corporations found an immediate need to sell anything and everything of value so as to raise cash. Only Gold remained stable as even our mining shares were deeply discounted……….. only Gold remained stable.

    There is a lot of fear that a general market crash will bring the mining sector misfortune again. Let me say why it will be different next time. The world doesn’t want any more dollars today. The world now knows that the issuer is not credit worthy. And the world now wants authentic money as proven by recent demand. China, Russia, India and Korea are all in the auction barn hoping that better quality will be put on sale.

    Yes, mining shares have lagged. The Golden goose is worth more. That's why shares are a better value now than they were yesterday.

    Mr. Kudlow should know by now that a higher dollar and lower Gold can only be a temporary condition. What might we fear that would make the USA dollar as good as Gold?"

    And the links to the charts he is referring to. Pretty much lays it all out as to why we need to prepare and prepare now imo:

    http://research.stlouisfed.org/fred2/series/FYFSD

    http://research.stlouisfed.org/fred2/series/FYGFD

    http://research.stlouisfed.org/fred2/series/MORTG/

    http://research.stlouisfed.org/fred2/series/FGEXPND

    http://research.stlouisfed.org/fred2/series/UNRATE

    http://research.stlouisfed.org/fred2/series/CPIUFDNS

    http://research.stlouisfed.org/fred2/series/BASE

    http://research.stlouisfed.org/fred2/series/M2NS

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  93. I have tried posting this twice and thanks to paulbain I think I figured out why the posting wasnt acceppted.
    The Adrian Douglas link below should have underscores between the words Published and Articles and between the words Articles06 and assets.

    I've been lurking here ever since I stumbled onto the WB posts am really impressed with the your blog Turd. I love the informed back and forth exchanges by the Turdites here. I didn't feel like I had anything to add so just continued to lurk and listen.

    After seeing all the postings about ECU I got hooked on it and was ready to pounce on it come Monday. So I did some DD and this is what I found. Some of you may be aware of these articles but I haven't seen any links to these posted here yet.

    The first is a 2006 article by Adrian Douglas (I am assuming it is GATA's Adrian Douglas). and the second is a Nov 2009 article by a Christopher Ecclestone. The first is highly complimentary and the second is highly critical. The comments on the second article imply that Ecclestone is a paid hack who is short ECU but it seems that he brings out some really good points. My own impression is that if the 2006 analysis was correct it would seem that the stock should have done much better by now.

    I have no position yet in ECU and offer these only in the hopes of getting a better more informed analysis from the Turdites here.

    I dont recall seeing an opinion of ECU from Turd and am curious if you have seen either of these articles and what your opinion is.

    Adrian Douglas----ECU Silver Mining - An Extraordinary Junior Mining Company
    http://marketforceanalysis.com/PublishedArticles06assets/ECUfinal.pdf

    Christopher Ecclestone--ECU Silver: Short - Empty Vessels Make the Most Sound
    http://seekingalpha.com/author/christopher-ecclestone/instablog

    All opinions will be greatly appreciated

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  94. EWC58

    I have been a buyer of ORKO Silver since listening to a presentation from their president at the S.F. Hard Assets show last November. OKOFF has not performed like GPL, but has rallied up to the top of a now 4 month range. If we pull back, it's a solid buy as a longer term play for production in 2012

    Here are my notes from the conference:

    Orko Silver (OK.V)
    I really like this one. La Preciosa is their Mexican mine. 165M oz as a joint venture with PAAS. Pan American is spending all the money to bring to production, which then entitles them to 55% of the silver. Orko gets 45%. Costs $6 to mine, with production in 2012. With their projected production numbers, they will be the 4th or 5th largest producing mine in the world, producing 12M oz per year. Target $3.50+. Currently $2.20

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  95. Sorry Turd, I have to. (better to ask forgiveness...)

    @Lloyd Really? What exactly have you liked? What is your blog about AU/AG? If not take a hike with your drive-by "show me yours and I'll show you mine" attempt at getting traffic on your blog about Jesus. It is interesting that you "Lloyd" put so much faith in my gardener...kind weird.....almost stalkerish...

    (no offense to any Jesus lovers, it's just that I don't think Jesus cares about gold and silver prices...unless you are talking about the guy that does my lawn)

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  96. (CBS News) NEW ORLEANS - U.S. Coast Guard officials confirm two people were rescued after an oil production platform caught fire in the Gulf of Mexico Sunday.

    The platform is located about 50 miles south of Grand Isle.

    CBS Affiliate WWL reports a Good Samaritan vessel rescued the two workers, according to officials.


    The two were believed to be the only people on board the platform.


    Details on their condition, and on the owner of the platform, were not immediately available.

    http://www.cbsnews.com/stories/2011/03/06/national/main20039815.shtml

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  97. ewc58, thanks for that recommendation, on the watch list now.

    Found another miner today to give me some more homework, Oremex Resources. I've missed that name here if it's been mentioned before. They are about to get heavy into silver and are planning to create Oremex Gold and renaming their current venture, Oremex Silver. Sprott invested in them.

    Up 23% on Friday.

    Oremex

    word verifaction: reapr

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  98. Justin, thanks back, I'll look into Oromex. That Sprott fella has ok taste I guess.
    Also- - I think EA tossed Wildcat out on Friday, they look very interesting from a MCp/oz standpoint. See p.9 of their recent preso to see their standing vs. many names we know. Still in DD on these guys though.

    http://www.wildcatsilver.com/section.asp?pageid=2124

    CanusMortus:

    Based on personal experience, ECU is a big Avoid. I loved the story but I only give Juniors so much time to perform and then it's ciao time. Felt like I was running in grease while I owned it, sold it higher than what it's hit since then. Redeployed the moolah to metals and other juniors whose performance has run rings around ECU since. IMHO, there are many better picks if you're looking to buy now.

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  99. @Mark,

    Good strategy for a nice pick. I'll be right there with you. Thank you for the Orko background, nice quote.

    La Preciosa is a formidable Ag resource on its own. I read the presence of PAAS as a "force multiplier" effect on top of that.

    Buona fortuna

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  100. "Felt like I was running in grease while I owned it..."

    LOL.

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  101. Check out Louise Yamada's price projections over at KWN. With all due apologies to the Turd, Louise is the real deal.


    http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/3/6_Louise_Yamada_-_$80_Silver,_$2,000_Gold_%26_$140_Oil.html

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  102. I was looking at the charts of the major currencies,(EU, GBP, JY, CHF, AUD) and seeing a lot of topping formations, double and in some cases triple tops. The only one that looks like it could go higher is the loonie. Could this mean a $ reversal and a rally is in the works? I'm not the best chart reader and would like to hear other opinions.

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  103. New to posting here but have been lurking for awhile. I love this blog as it addresses what I have known to be true since reading Larry Burket's book, "Economic Earthquake" which he wrote in 1991. Where do I go to buy PM's without big bro having a paper trail? Thanks

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  104. no more fat chicks:
    Go to your neighborhood coin shop and see what your fiat money will buy

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  105. Rassillon @ 11:49:

    ...It is interesting that you "Lloyd" put so much faith in my gardener...

    LOL ;-)

    Also, regarding your comment as a whole, I second it. I don't normally object to someone pitching his or her own blog when it is linking to a particular post in the midst of a relevant discussion (such as Justin, for example, linking to a helpful GPL post on his blog recently during a GPL discussion).

    These come visit my blog posts though, at least for me, are getting old, even when the blog is about precious metals.

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  106. I have an interesting new thread.

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  107. Eric#1: Louise is the ONLY general technician that I respect. She is The Best.

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  108. OldNavy:
    "What we need are some leaders with principles and guts, and more than anything, we need voters who will snap out of their denial and habitual thiningcome to grips with the reality we are all facing."


    I'm afraid the only way we'll get either is by the money becoming worthless first.

    Seawolf!!

    Swifts here, both out of An Thoi and from Cat Lo (to Nha Be for a tad), if you were there '67-'68 THANKS! Coastal Divs 11 & 13 Squadron 1 (Numbah 1 !)

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  109. This comment has been removed by the author.

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  110. Turd, thanks for the blog and the education. I finally gave up on the deflationist after finding your blog. On another note...... The video would have been much better without all of the cursing. Your kids will be watching these one day and I can't share with mine. Just think about it. Thanks again for the blog.

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  111. Turn off the lights, the party is over for the COMEX. $36 silver

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  112. As well as cheap sunglasses the PRI recaptured the governorships from the says with Jalisco as well as Chiapas, both equally of which the idea lost more than a ten years before, the idea seemingly lost discount designer sunglasses, Lopez Obrador's residence say, to be able to Democratic Trend. The leftist gathering in addition earned the governor's competition inside Morelos, just simply south with designer sunglasses sale Location.

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